Document:

EX-10.1

 Exhibit 10.1 

Execution Copy 
 THIRD
AMENDMENT TO SUBLEASE 
 AND CONSENT TO SUBLEASE 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR THE REDACTED PORTIONS OF THIS AGREEMENT, WHICH ARE DENOTED BY ***. A COMPLETE COPY OF THIS
AGREEMENT, INCLUDING THE REDACTED PORTIONS, HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 
 THIS THIRD
AMENDMENT TO SUBLEASE AND CONSENT TO SUBLEASE (this “Amendment”) is made effective as of February 1, 2016, by and among TEACHERS’ RETIREMENT SYSTEMS OF ALABAMA, an instrumentality of the State of Alabama, and
EMPLOYEES’ RETIREMENT SYSTEM OF ALABAMA, an instrumentality of the State of Alabama (collectively, the “Landlord”), NAVISTAR, INC., a Delaware corporation (“Tenant” or “Sublandlord”), and
FREIGHTCAR ALABAMA, LLC, a Delaware limited liability company (“Subtenant”). Landlord, Tenant/Sublandlord, and Subtenant are sometimes referred to herein collectively as the “Parties” and individually as a
“Party.” 
 Recitals 

A. Landlord entered into that certain Industrial Facility Lease (the “Lease”), dated as of September 29, 2011, with
Tenant, whereby Landlord leased to Tenant the Leased Premises (as defined in the Lease). 
 B. A short form or memorandum of the Lease has
been recorded in the land records of Colbert County, Alabama on October 25, 2011 in Book 2011, Page 22555. 
 C. Pursuant to that
certain Sublease (as amended by that certain Amendment to Sublease ***, dated as of March 11, 2013, and that certain Second Amendment to Sublease and Consent to Sublease, dated effective as of October 1, 2014, collectively, the
“Sublease”), dated as of February 19, 2013, Tenant has subleased to Subtenant a portion of the Facility referred to therein as the “Subleased Premises,” and granted to Subtenant the exclusive use of certain
areas of the Leased Premises referred to as the “Exclusive Use Areas,” all as more particularly described in the Sublease. A true and complete copy of the Sublease has been delivered to Landlord. Capitalized terms used herein, but
not defined herein, shall have the meanings ascribed to them in the Sublease. 
 D. Simultaneously with the execution of this Amendment,
Subtenant has executed and entered into that certain Standard Form of Agreement Between Owner and Design-Builder with JESCO, Inc. (together with any amendments and/or exhibits thereto, the “JESCO Agreement”) for the improvement of a
portion of the Land and Facility (the “Work”), a portion of which will benefit Sublandlord. Subtenant shall keep Sublandlord reasonably informed and updated regarding the progress and status of the Work. 

E. Sublandlord has agreed to reimburse Subtenant for a portion of the cost of the Work in an amount equal to $*** (the “Sublandlord
Costs”) by means of a credit against Subtenant’s monthly obligation for Additional Sublease Rent commencing on the date on which Subtenant commences its occupation of the improvements which constitute the Work (the “Occupancy
Date”) on the terms and conditions set forth herein. 
 F. During the period beginning on February 1, 2016, and ending on the
Occupancy Date (the “Construction Period”), Subtenant shall pay Sublandlord in addition to any other amounts 

 
owed hereunder the sum of $*** per month (prorated for partial periods) in supplemental rent applicable to the unimproved areas within the Facility in which the Work will be performed
(the “Construction Period Rent”). In addition to such Construction Period Rent Subtenant shall pay to Sublandlord during the Construction Period an allocation of applicable overhead costs in the amount of $*** (prorated for partial
periods). For the avoidance of doubt, during the Construction Period, Subtenant shall have access to, responsibility for, and control of the unimproved areas within the Facility in which the Work will be performed (the “New Space”,
as more particularly set forth on the supplemental floor plan for such New Space attached hereto as Exhibit F). 
 G. Sublandlord and
Subtenant mutually desire that the Sublease be amended subject to the following terms and conditions. 
 Agreement 

For and in consideration of the respective covenants and agreements of the Parties herein set forth, and other good and valuable
consideration, the receipt and sufficiency of all of which are hereby acknowledged by the Parties, the Parties do hereby agree as follows: 

ARTICLE 1 
 AMENDMENTS
TO SUBLEASE 
 Section 1.1 Recitals Incorporated. The recitals set forth above, including but not limited to the defined
terms “Sublandlord Costs”, “Occupancy Date”, “Construction Period”, “Construction Period Rent”, and “New Space” set forth therein are incorporated herein by reference and shall be
deemed terms and provisions hereof with the same force and effect as if fully set forth in this Section 1.1. 
 Section 1.2
Amendment of “Background” Recitals. The Sublease is hereby amended by substituting the following new Section C. of the “Background” recitals on the initial page of the Sublease: 

C. Sublandlord desires to (i) sublease to Subtenant a portion of the Facility consisting of approximately 751,276 square
feet of space to be occupied by Subtenant (the “FCA Controlled Subleased Space”), as more particularly set forth on the floor plans attached hereto as Exhibit B and Exhibit F, (ii) grant to Subtenant the non-exclusive
right to use a shared area in the Facility comprised of approximately *** square feet of space (the “Shared Use Area”) as more particularly set forth on the floor plans attached hereto as Exhibit B and Exhibit F, for which
Subtenant shall be obligated to pay Sublease Base Rent and its share of costs and expenses on 21,552 square feet of such Shared Use Area, as more particularly set forth herein (the “FCA Shared Use Area”) (the 772,828 square feet of
space comprising the FCA Controlled Subleased Space and the FCA Shared Use Area shall be collectively referred 

  
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to herein as the “FCA Space”), (iii) sublease to Subtenant a portion of the Facility consisting of approximately *** square feet of space to be occupied by
Sublandlord (the “Navistar Controlled Subleased Space”) (the FCA Controlled Subleased Space and the Navistar Controlled Subleased Space shall be collectively referred to herein as the “Subleased Premises”), as more
particularly set forth on the floor plans attached hereto as Exhibit B and Exhibit F, and (iv) grant to Subtenant the exclusive use of those areas of the Premises identified as being for the exclusive use of Subtenant (the
“Exclusive Use Areas”), as more particularly set forth on the site plan attached hereto as Exhibit C. 
 Exhibit B and
Exhibit C referenced in the substituted paragraph above shall be replaced in the Sublease with Exhibit B and Exhibit C attached to this Amendment. 

Section 1.3 Amendment of Section 3.1 of Sublease. From and after the Occupancy Date, the Sublease is amended by substituting
the following new Section 3.1: 
 3.1 Sublease Base Rent. Subtenant shall pay to Sublandlord base rent for the
Subleased Premises (“Sublease Base Rent”), in the amount of $*** per year (calculated by multiplying $*** per square foot per year by *** square feet, which is the sum of the square footage comprising the FCA Space and the Navistar
Controlled Subleased Space (other than the New Space)), payable in equal monthly installments of $*** each, plus additional rent for the New Space (“New Space Rent”), in the amount of $*** per year (calculated by multiplying $***
per square foot per year by *** square feet, which is the total square footage of the New Space) payable in equal monthly installments of $***; provided, however, that the Sublandlord shall provide Subtenant with an annual credit in the amount of
$*** (calculated by multiplying $*** per square foot per year by *** square feet, which represents the portion of the New Space to be utilized by Sublandlord) to be applied in equal monthly credits of $*** (“NAV Controlled New Space
Credit”). If Subtenant timely exercises its option to extend the Term of this Sublease for any Sublease Extension Term in accordance with Section 2.2 hereof (pursuant solely to the scenarios described in sub-Sections 2.3(a) and 2.3(b)
herein; an extension of the Sublease pursuant to Section 2.3(c) will be governed by the terms of Section 2.3(c)), Subtenant shall pay to Sublandlord Sublease Base Rent for the Subleased Premises during any such Sublease Extension Term in
the amount of $*** per year (calculated by multiplying $*** per square foot per year by *** square feet, which is the sum of the square footage comprising the FCA Space and the Navistar Controlled 

  
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Subleased Space (other than the New Space)), payable in equal monthly installments of $*** each, plus additional rent for the New Space (“New Space Rent”), in the amount of
$*** per year (calculated by multiplying $*** per square foot per year by *** square feet, which is the total square footage of the New Space) payable in equal monthly installments of $***; provided, however, that the Sublandlord shall provide
Subtenant with an annual credit in the amount of $*** (calculated by multiplying $*** per square foot per year by *** square feet, which represents the portion of the New Space to be utilized by Sublandlord) to be applied in equal monthly credits of
$*** (“NAV Controlled New Space Credit”). 
 Section 1.4 Amendment of Section 3.3(d) of Sublease. From and
after the Occupancy Date, the Sublease is amended by substituting the following new Section 3.3(d): 
 (d)
“Subtenant’s Proportionate Share” shall mean 35.95%, which has been determined by dividing the number of square feet in the FCA Space (772,828 square feet), by the number of square feet in the Facility (2,150,000 square feet);
provided, further, that the monthly Additional Sublease Rent attributable to Subtenant’s Proportionate Share shall be reduced by the Sublandlord Costs divided by the remaining months in the Sublease Initial Term following the Occupancy
Date. 
 Section 1.5 Other Provisions of Sublease. Sublandlord and Subtenant hereby agree that notwithstanding the foregoing
specified amendments of the Sublease, all other terms and conditions of the Sublease shall remain in full force and effect. In the case of any inconsistency between the provisions of the Sublease and this Amendment, the provisions of this Amendment
shall govern and control. 
 ARTICLE 2 

CONSENT TO SUBLEASE AMENDMENT 

Section 2.1 Landlord Consent. Landlord hereby consents to the foregoing and to the sublease of the Subleased Premises by Tenant to
Subtenant pursuant to the Sublease, as amended by this Amendment. 
 Section 2.2. Sublandlord Consent. Sublandlord hereby
consents to the Work and each of the Work’s alterations, additions and improvements in accordance with Section 5.2 of the Sublease. 

Section 2.3 Non-Disturbance. So long as there is no Sublease Event of Default which remains uncured, Landlord covenants and agrees
that Subtenant’s possession and use of the Subleased Premises and Exclusive Use Areas and Subtenant’s rights and privileges under the Sublease, including any extensions or renewals thereof which may be effected in accordance

  
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 with any option or right granted therein, shall not be diminished or interfered with by Landlord, and
Subtenant’s occupancy of the Subleased Premises and Exclusive Use Areas shall not be disturbed during the term of the Sublease or any renewal or extension thereof. Notwithstanding anything contained herein to the contrary,
in the event Landlord terminates the Lease or terminates Tenant’s right to possession pursuant to Section 22.3 of the Lease, Subtenant shall not in any event hold Landlord responsible for any unreimbursed or
uncredited Sublandlord Costs or NAV Controlled New Space Credit or otherwise deduct such amounts from rent which may be then payable or payable in the future to Landlord pursuant to the Sublease or otherwise.

ARTICLE 3 
 GENERAL
PROVISIONS 
 Section 3.1 Notices. Any notice, request, demand, instruction or other document to be given or served
hereunder or under any document or instrument executed pursuant hereto shall be in writing and shall be delivered personally, sent by nationally recognized overnight courier service, delivery fee prepaid, or sent by United States registered or
certified mail, return receipt requested, postage prepaid, in each case addressed to the parties at their respective addresses set forth below. Any such notice shall be effective (a) upon receipt if delivered personally, (b) on the next
business day after confirmed deposit with a nationally recognized overnight courier service, and (c) three (3) business days after deposit in the United States registered or certified mail. A party may change its address for receipt of
notices by service of a notice of such change in accordance herewith. 
  

			
	If to Landlord:	  	The Retirement Systems of Alabama
		  	201 South Union Street
		  	Montgomery, AL 36130
		  	Attn: Hunter Harrell
		
	 with a copy to:
	  	Maynard Cooper Gale
		  	1901 Sixth Avenue North
		  	Regions Harbert Plaza
		  	Suite 2400
		  	Birmingham, AL 35203
		  	Attn: Robert R. Sexton
		
	If to Tenant:	  	Navistar, Inc.
		  	2701 Navistar Drive
		  	Lisle, IL 60532
		  	Attention: Director, Corporate Real Estate
		
	 with a copy to:
	  	Navistar, Inc.
		  	2701 Navistar Drive
		  	Lisle, IL 60532
		  	Attention: General Counsel

  
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	If to Subtenant:	  	FreightCar America, Inc.
		  	Two North Riverside Plaza
		  	Suite 1300
		  	Chicago, IL 60606
		  	Telecopy: 312-928-0890
		  	Attention: Chief Executive Officer
		
	 with a copy to:
	  	FreightCar America, Inc.
		  	Two North Riverside Plaza
		  	Suite 1300
		  	Chicago, IL 60606
		  	Telecopy: 312-928-0890
		  	Attention: General Counsel

 [The remainder of this page intentionally left blank.] 

  
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 IN WITNESS WHEREOF, this Agreement has been executed by the Parties as of the date first stated
above. 
  

							
	Landlord:	 		 	Teachers’ Retirement Systems of Alabama
				
		 		 	By:	 	 /s/ David G. Bronner

		 		 	Name:	 	David G. Bronner
		 		 	Title:	 	CEO
			
		 		 	Employees’ Retirement System of Alabama
				
		 		 	By:	 	 /s/ David G. Bronner

		 		 	Name:	 	David G. Bronner
		 		 	Title:	 	CEO
			
	Tenant:	 		 	Navistar, Inc.
				
		 		 	By:	 	 /s/ Bill McMenamin

		 		 	Name:	 	Bill McMenamin
		 		 	Title:	 	President, Financial Services and Treasurer
			
	Subtenant:	 		 	FreightCar Alabama, LLC
				
		 		 	By:	 	 /s/ Joseph E. McNeely

		 		 	Name:	 	Joseph E. McNeely
		 		 	Title:	 	President and Chief Executive Officer

  
 7 

 EXHIBIT B 

*** 

 EXHIBIT C 

*** 

 EXHIBIT F 

***EX-10.4

 Exhibit 10.4 

SCHOOL SPECIALTY, INC. 

2014 INCENTIVE PLAN 

2016 INCENTIVE BONUS AGREEMENT 

School Specialty, Inc. (the “Company”) hereby grants you an Incentive Bonus Award (the “2016 Incentive Bonus
Award”) under the 2014 Incentive Plan of School Specialty, Inc. (the “Plan”). This 2016 Incentive Bonus Award confers upon you the opportunity to earn a future payment tied to the achievement of the performance criteria
(the “Performance Criteria”) identified in Schedule I for fiscal 2016, as identified in Schedule I (the “Performance Period”). 

Schedule I to this Agreement provides the details of your 2016 Incentive Bonus Award. It specifies the Performance Period, Performance
Criteria upon which your 2016 Incentive Bonus Award is based including the level of achievement versus the criteria that shall determine the amount of your 2016 Incentive Bonus Award, the amount you will receive if the target level of the
Performance Criteria for the Performance Period is achieved (the “2016 Target Bonus”), and the percentage of the 2016 Target Bonus you will receive if the threshold or maximum level of the Performance Criteria for the Performance
Period is achieved. 
 The 2016 Incentive Bonus Award is subject in all respects to the applicable provisions of the Plan. This Agreement
does not cover all of the rules that apply to the 2016 Incentive Bonus Award under the Plan, and the Plan defines any terms in this Agreement that the Agreement does not define. 

In addition to the terms and restrictions in the Plan, the following terms and restrictions apply to the 2016 Incentive Bonus Award: 

 

			
	Vesting	  	Except as otherwise provided in an employment agreement between us, if any, if your employment is terminated (a) for any reason prior to the last day of the Performance Period or (b) for any reason prior to the date on which the
2016 Incentive Bonus Award is paid, other than a termination of your employment in the event of your death or Disability or the termination of your employment by the Company without Cause, you shall forfeit the right to earn and be paid any amount
pursuant to this 2016 Incentive Bonus Award.
		
	Payment	  	As soon as administratively practicable following the conclusion of the Performance Period and prior to payment, the Administrator shall certify the extent to which the Performance Criteria has been satisfied and the amount payable
as a result thereof, if any. Following such certification, the Company shall you pay you the amount of your 2016 Incentive Bonus Award, if any, in cash no later than March 15, 2017.
		
	Taxes	  	The Company may withhold any income or employment tax which it believes is payable as a result of payment of your 2016 Incentive Bonus Award, if any.
		
	 No Effect on
 Employment

Or Other
 Relationship
	  	 Nothing in this Agreement restricts the Company’s rights or those of any

of its affiliates to terminate your employment or other relationship at any

time, with or without cause. Except as otherwise provided in an employment agreement, if any, between us, the termination of employment or other relationship,
whether by the Company or any of its affiliates or otherwise, and regardless of the reason for such termination, has the consequences provided for under this Agreement.

			
		
	Governing Law	  	The laws of the State of Delaware will govern all matters relating to this Agreement, without regard to the principles of conflict of laws, except to the extent superseded by the laws of the United States of America.
		
	Notices	  	Any notice you give to the Company must follow the procedures then in effect under the Plan and this Agreement. If no other procedures apply, you must deliver your notice in writing by hand or by mail to the office of the Assistant
Secretary. If mailed, you should address it to the Company’s Assistant Secretary at the Company’s then corporate headquarters, unless the Company directs Participants to send notices to another corporate department or to a third party
administrator or specifies another method of transmitting notice. The Company will address any notices to you at your office or home address as reflected on the Company’s personnel or other business records. You and the Company may change the
address for notice by like notice to the other, and the Company can also change the address for notice by general announcements to Participants.
		
	Plan Governs	  	Wherever a conflict may arise between the terms of this Agreement and the terms of the Plan, the terms of the Plan will control; provided, however that this Agreement may impose greater restrictions on, or grant lesser rights, than
the Plan. The Administrator may adjust the amount of the 2016 Incentive Bonus Award payable as the Plan provides.

  
 2 

 SCHOOL SPECIALTY, INC. 

2014 INCENTIVE PLAN 

2016 INCENTIVE BONUS AGREEMENT 

PARTICIPANT ACKNOWLEDGEMENT 

I acknowledge I received a copy of the Plan and this Agreement (including Schedule I). I represent that I have read and am familiar with the
terms of the Plan and this Agreement (including Schedule I). By signing where indicated below, I accept the 2016 Incentive Bonus Award subject to all of the terms and provisions of this Agreement (including Schedule I) and the Plan, as may be
amended in accordance with its terms. I agree to accept as binding, conclusive, and final all decisions or interpretations of the Administrator concerning any questions arising under the Plan and this Agreement with respect to the 2016 Incentive
Bonus Award. 
  

							
	EMPLOYEE	 	SCHOOL SPECIALTY, INC.
				
	By:	 	  
	 	By:	 	  

		 		 	Title:	 	
				
	Date:	 		 	Date:	 	

 SCHOOL SPECIALTY, INC. 

2014 INCENTIVE PLAN 

2016 INCENTIVE BONUS AGREEMENT 

SCHEDULE I 
  

	1.	Participant Information: 

Name:                         
                                    

 

	2.	2016 Incentive Bonus Information: 

  

			
	Performance Period:	  	2016 Fiscal Year (December 27, 2015 to December 31, 2016)
		
	Date of Grant: 	  	March 6, 2016
		
	Performance Criteria:	  	“EBITDA After Bonus Accrual” which is defined as the Company’s Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), after accrual of bonuses to be paid under this and all
other Company annual incentive compensation plans for the 2016 Fiscal Year and adjusted to exclude non-cash stock-based compensation charges for the 2016 Fiscal Year, determined by the Committee in accordance with generally accepted accounting
principles in effect in the United States, applied on a consistent basis (“GAAP”). Consistent with the Plan, the Committee shall adjust the EBITDA After Bonus Accrual to exclude any of the following events during the Performance
Period: (i) asset write downs; (ii) litigation or claim judgments or settlements; (iii) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results; (iv) accruals for reorganization and
restructuring programs and (v) any non-recurring items as described in the audited financial statements of the Company for the 2016 Fiscal Year.
		
	Free Cash Flow:	  	“Free Cash Flow” is defined as the Company’s net cash provided by (used in) operating activities less net cash used in investing activities, determined by the Committee in accordance with GAAP.
		
	2016 Target Bonus:	  	    % of your base salary

 Performance Levels and Eligible Bonus Amounts: 

 

							
	 	  	Threshold	  	Target	  	Maximum
	 Performance Criteria - EBITDA- “After Bonus Accrual”*
	  	$[●]	  	$[●]	  	$[●]
	 Free Cash Flow
	  	$[●]	  	$[●]	  	N/A
	 Percentage of Target Bonus Eligibility
	  	20%	  	100%	  	200%

  

	*-	$ in millions 

  

	3.	 Amount of 2016 Incentive Bonus Award. The Administrator shall certify the level of achievement for the
Performance Period with respect to the Performance Criteria. If the achievement of the Performance Criteria for 2016 equals the threshold, target or maximum performance levels for the

	 	
Performance Criteria identified in the chart above, then the Participant’s 2016 Incentive Bonus Award shall equal the product obtained by multiplying 20%, 100%, and 200% by the 2016 Target
Bonus, respectively. Achievement of the Performance Criteria for the Performance Period between the threshold, target and maximum levels identified above shall result in an Incentive Bonus Award determined on a linear basis between such levels.
Achievement of the Performance Criteria for the Performance Period above the maximum level identified above shall result in the maximum Incentive Bonus Award, which is equal to 200% of the 2016 Target Bonus. The Participant will not receive any 2016
Incentive Bonus Award unless the performance level of the Performance Criteria equals the threshold level identified in the chart above. 

Notwithstanding the foregoing, if the Company’s Free Cash Flow for the Performance Period is less than the threshold level for such
measure specified above, no Incentive Bonus Award shall be earned and if the Company’s Free Cash Flow for the Performance Period is above the threshold level for such measure but less than the target level for such measure as specified above,
the maximum Incentive Bonus Award payable to Participant shall be limited to the Target Bonus. 
  

	4.	Vesting and Forfeiture. Except as otherwise set forth in an employment agreement, if any, between us, if your employment is terminated for any reason prior to the last day of the Performance Period, you shall
forfeit the right to earn and be paid any amount pursuant to the 2016 Incentive Bonus Award.

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