13.	GATX Corporation

On January 10, 2008, the Company entered into an agreement with GATX Corporation (“GATX”) whereby GATX acquired 239,523 (approximately 4.99%) newly-issued shares of the Company’s common stock for approximately $5,500 ($23 per share) to be utilized for capital improvements to enhance the Company’s railroad lines. The parties also entered into an Exclusive Railcar Supply Agreement whereby GATX has the exclusive right to supply the Company with railcars for certain rail traffic on market-competitive terms. In addition, the Company exchanged 72 of its mill gondolas for 137 (reduced to 10 during 2014) open-top hoppers owned by GATX, which was accounted for as a purchase. In June, 2014, the Company acquired from GATX 75 open-top hoppers, which were previously leased on a per trip lease/storage arrangement. In 2008, the Company leased 72 mill gondolas from GATX under operating leases for a period of up to 7 years at a minimum annual rental of $248 (adjusted to $163 for 2014) through January 2015. During 2012, the Company and GATX amended the lease with respect to 20 of the mill gondolas which the Company returned to GATX. All other terms and conditions remained the same. In September 2014 the lease for 52 mill gondolas from GATX was extended through December 2019 at annual rate of $183. Rental expense of $163 was incurred under this lease in both 2014 and 2013. In addition to the lease of gondolas, which is a fixed-rent, fixed-term lease, the Company also entered into a 7 year “per-diem” lease of 200 auto carrying railcars, for which the Company is obligated to remit car-hire revenues only. This lease expired December 2014 and was extend to December 2019. Additionally, the Company entered into a lease for 76 automobile carrying railcars, for which the Company is obligated to remit car-hire revenues only. This lease expires December 2025 and automatically renews for one year increments unless either party serves the other with written notice of cancellation. In 2014 and 2013, the car-hire earned from other railroads and remitted to GATX was approximately $3,700 and $3,600, respectively under the leases for automobile carrying railcars.

In March 2014, the Company extended a lease for two (2) six-axle EMD SD-60 locomotives, with an additional EMD SD-60 locomotive being added to the agreement, for approximately $233 per annum through October 2017.

Based upon certain conditions in the lease, the Company extended in 2014 a lease/storage arrangement for 8 hi-sided gondolas in 2014, whereby the Company pays GATX for its sporadic use on a per trip basis only.