FREIGHTCAR AMERICA, INC. : Change in Directors or Principal Officers (form 8-K)

Published: 2022-01-21 16:17:04 ET RAIL

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 17, 2022, the board of directors (the "Board") of FreightCar America, Inc. (the "Company"), acting on the recommendation of the compensation committee of the Board, approved the amendment and restatement of the FreightCar America, Inc. Executive Severance Plan (the "A&R Plan"), effective as of January 17, 2022, in which James R. Meyer, the Company's Chief Executive Officer, Terence R. Rogers, the Company's Chief Financial Officer and W. Matthew Tonn, the Company's Chief Commercial Officer (each, an "Executive") participate. The A&R Plan includes the following material changes from the Company's previous Executive Severance Plan:

· Adds a new condition to an Executive's ability to receive his or her severance

· Adds a new Qualifying Retirement benefit, under which following an Executive's

· Revises the definition of "Change in Control" to remove the prior exclusion of

The foregoing description of the A&R Plan is qualified in its entirety by the full text of the A&R Plan, a copy of which will be filed as an exhibit to the Company's quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2022. Unless otherwise specified, capitalized terms used above without definition have the meanings set forth in the A&R Plan.