Exhibit 10.1
 FREIGHTCAR AMERICA, INC.
EXECUTIVE SEVERANCE PLAN
(and Summary Plan Description)
 Article 1. Establishment and Term of the Plan
 Establishment of the Plan
  Plan Term
 Plan Year
 Administration
 1




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Article 2. Definitions
  Base Salary
 Beneficial Owner
 Board
 Bonus
 Cause
   nolo contendere
   2




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Change in Control
    COBRA
 Code
 3




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Company
 Company Materials
 Confidential Information
 Disability
 ERISA
 Exchange Act
 Executive
 Good Reason
   4




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Inventions
 Notice of Termination
 Person
 Plan
 Plan Administrator
 Qualifying Termination
 Severance Benefits
 Article 3. Severance Benefits
 Eligibility for Severance Benefits
 5




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Qualifying Termination
    Description of Severance Benefits.
   divided by
  6




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Death or Disability
 Termination for Cause or by the Executive Other Than for Good Reason.
 Notice of Termination.
 Article 4. Restrictive Covenants
  Confidential Information and Company Materials
 7




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8




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Noncompetition and Nonsolicitation
    Non-disparagement.
 Forfeitures
   Intellectual Property
 9




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Remedies
  Blue Pencil
 Article 5. Code Section 409A
     10




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Article 6. Claims Procedure
 Claims Procedure
 6.2 Review Procedure
 11




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Article 7. Successors
 Successors to the Company.
 Assignment by the Executive.
 Article 8. Miscellaneous
 Employment Status.
 Effect of Receiving Severance Benefits.
 Interests Not Transferable.
 12




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Entire Plan.
 Conflicting Plans.
 Notices.
 Tax Withholding.
 Severability.
  13




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Gender and Number.
 Applicable Law.
 Action by Company.
 Plan Funding.
 Indemnification.
 14




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Article 9. Amendment and Termination
 Amendment and Termination.
 Notice of Amendment or Termination.
 15




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Appendix A
 Executives Eligible to Participate in the  FreightCar America, Inc. Executive Severance Plan




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Appendix B
 Additional Information for Summary Plan Description
  Your Rights Under ERISA
  
    
    Receive information about the Plan and benefits offered under the Plan.
    
    Examine, without charge, at the Companys office and at other specified locations,
all documents governing the Plan, and a copy of the latest annual report filed by the Plan
with the U.S. Department of Labor and available at the Public Disclosure Room of the
Employee Benefit Security Administration.
    
    Obtain, upon written request to the Company, copies of documents governing the
operation of the Plan, and copies of the latest annual report and updated summary plan
description. The Company may make a reasonable charge for the copies.
    
    Obtain a statement telling you whether you have a right to receive a benefit and, if
so, what your benefit would be if you stop working under the Plan now. If you do not have
a right to a benefit, the statement will tell you how many more years you have to work to
get a right to a benefit. This statement must be requested in writing and is not required
to be given more than once every 12 months. The Plan must provide the statement free of
charge.
 Prudent Action by Plan Fiduciaries
  Enforce Your Rights




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Assistance With Your Questions
  General Plan Information
 Plan Sponsor
    
    FreightCar America, Inc.Two North Riverside Plaza, Suite 1250Chicago, Illinois 60606Plan Name
    
    FreightCar America, Inc. Executive Severance PlanType of Plan
    
    Welfare planSource of Funds
    
    The Company will pay all benefits due and owing under the
Plan directly out of its general assets. To the extent
that an Executive acquires a right to receive benefits
under the Plan, such right shall be no greater than the
right of an unsecured general creditor of the Company.Plan Number
    
    [     ]




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Companys Employer 
Identification Number
    
    25-1837219Plan Administrator
    
    FreightCar America, Inc.Two North Riverside Plaza, Suite 1250Chicago, Illinois 60606(312) 928-0850Agent for Service
of Legal Process
    
    Plan AdministratorPlan Year
    
    Calendar Year
(January 1  December 31)Controlling Law
    
    Illinois, to the extent not preempted by Federal law




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FREIGHTCAR AMERICA, INC.
EXECUTIVE SEVERANCE PLAN
 ACKNOWLEDGMENT AND ACCEPTANCE OF  THE TERMS AND CONDITIONS OF THE PLAN
 Company Plan
  «FirstName» «LastName»
 «Date_2»
 At Will Employment
  EXECUTIVE:
    
    FREIGHTCAR AMERICA, INC.By:[Signature]Title:
 Attachment