Document:

EX-10.4

 Exhibit 10.4 

SEPARATION AND CONSULTING AGREEMENT 

This Separation and Consulting Agreement (“Agreement”) is made effective as of February 26, 2016 (“Effective Date”),
by and between The Greenbrier Companies, Inc. (the “Company”) and William G. Glenn (“Glenn”). 
 RECITAL 

The Company and Glenn desire to enter into this Agreement, setting forth the terms and conditions relating to Glenn’s transition from his
current position with the Company and his potential engagement as a consultant to the Company following the cessation of his employment with the Company. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, the Company and Glenn agree as follows: 

ARTICLE 1 
 Employment
and Separation 
 1.1 Employment Status. As of the Effective Date, Glenn shall resign from his current position as an executive
officer and Senior Vice President and Chief Commercial Officer of the Company and shall also resign as all other roles as director, officer, manager, board member and any other position of any and all subsidiaries of the Company, except as provided
in Section 1.3 below. 
 1.2 Employment Term. Glenn shall serve as a non-officer employee of the Company under the terms of this
Agreement for the period beginning on the Effective Date and ending on May 31, 2016, which may be extended for an additional period by mutual consent of the parties (“Employment Term”). Notwithstanding any provision of this Agreement
to the contrary, the Employment Term may be terminated by the Company or Glenn at any time and for any reason. If employment term is terminated, all remaining provisions of this agreement remain in force, subject to the survival provisions set forth
in Section 4.9. For avoidance of doubt, this Agreement does not guarantee or imply any right to continued employment for any period whatsoever. The Company and Glenn acknowledge that Glenn’s employment is and shall continue to be at-will
and no representative of the Company, other than the Company’s Chief Executive Officer (“CEO”), has the authority to alter the at-will employment relationship. 

1.3 Position; Duties. During the Employment Term, Glenn shall serve as the President of the Management Board of WagonySwidnica S.A., a
wholly-owned indirect subsidiary of the Company, reporting to the Company’s CEO, and shall have the duties and responsibilities as may be reasonably assigned from time to time by the CEO, including principally, (i) succession planning by
providing recommendations and any necessary support within the Company’s Commercial organization for Europe and the Middle East; (ii) work to obtain a mutually acceptable comprehensive Term Sheet/Letter of Intent with the counterparty in
Project Star (the Term Sheet/Letter of Intent should identify the material terms of a proposed transaction which would allow Project Star to advance immediately to the formal diligence and documentation stage); (iii) upon the Company’s
request and in coordination with the Company’s 

  
 1 

 
CEO, work with key customers and other key relationships on transition to new management within the Commercial organization; and (iv) work as required with studies and support of GCC market
and SAR. 
 1.4 Performance of Duties. During the Employment Term, Glenn will devote his reasonable full-time energies and efforts
exclusively in furtherance of the business of the Company and its affiliates. Glenn will perform his duties during the Company’s normal business hours and at other reasonably necessary times. Glenn will extend his best efforts on behalf of the
Company and will abide by all policies and decisions made by the Company, as well as all applicable foreign, federal, state and local laws, regulations and ordinances. Glenn will act in the best interest of the Company at all times. Notwithstanding
the foregoing, Glenn will be permitted to serve as an outside director on the board of directors of Columbia Machine, Inc., Vancouver, WA, and of nonprofit or charitable entities, provided such entities do not compete with the Company, and may
participate in other professional, civic, governmental organizations and activities that do not materially affect Glenn’s ability to carry out the duties hereunder. 

1.5 Base Salary. As compensation for Glenn’s performance of the duties during the Employment Term, Glenn shall be paid a base
salary at a rate of $360,000.00 per annum (“Base Salary”), payable in accordance with the Company’s customary payroll practices, less required deductions for state and federal withholding tax, social security and all other employment
taxes and payroll deductions. 
 1.6 Bonus. Although Glenn will not hold an “Eligible Executive Officer Position” during
the Employment Term within the meaning of the Company’s 2016 officer incentive bonus plan, Glenn will receive a cash performance-based bonus for the fiscal year ending August 31, 2016 pursuant to the Company’s 2016 officer incentive
bonus plan as if Glenn had remained an Eligible Executive Officer at the time of the bonus payment, without regard to whether the Employment Term expires before August 31, 2016, provided that and contingent upon Glenn having provided to the
Company a signed, comprehensive release of claims against the Company and its affiliates as of the date of determination of such bonus, in substantially the form attached as Exhibit A to this Agreement. 

1.7 Separation. As a material condition of this Agreement, on or before the Effective Date, Glenn agrees to submit an undated
resignation as President of the Management Board of WagonySwidnica S.A. to be effective upon the expiration or earlier termination of the Employment Term and the Consulting Term, if applicable, or earlier upon appointment of a new President of the
Management Board of WagonySwidnica S.A., as provided in Section 1.2 above. 
 1.8 Indemnification and D&O Insurance. The
Indemnification Agreement, dated December 5, 2008 between Glenn and the Company remains in full force and effect in accordance with its terms. Glenn shall remain as an insured individual for his activities as President of Management Board of
WagonySwidnica S.A. under any Company directors’ and officers’ insurance policy as the Company may have in place from to time. 

  
 2 

 ARTICLE 2 

Consulting Engagement 
 2.1
Consulting Status. Upon the cessation of his employment with Company, Glenn, in his sole discretion, may become a consultant to the Company. Glenn’s status shall be as an independent contractor, and the Company shall have no authority to
supervise the time, manner or place of Glenn’s performance of services as a consultant. Glenn may perform work for other individuals and entities, provided that such work does not interfere with the services he provides to the Company and does
not violate any provision of Article 4 below. 
 2.2 Consulting Term. Glenn’s consulting term under this Agreement, if any,
shall begin immediately following the expiration of the Employment Term, including any extensions thereto, and shall continue until December 31, 2016. If the Employment Term is extended beyond May 31, 2016 under Section 1.2, then the
consulting engagement period shall be extended by the same amount of time the employment period is extended past May 31, 2016 (the “Consulting Term”). Notwithstanding any provision of this Agreement to the contrary, the Consulting
Term may be terminated at any time prior to the expiration of the Consulting Term by mutual agreement of Glenn and the Company. 
 2.3
Consulting Fees. As compensation for Glenn’s performance of the duties during the initial Consulting Term ending December 31, 2016, or as extended under Section 2.2 above, the Company shall pay Glenn a monthly Consulting Fee in
the amount of $30,000.00 per month (the “Consulting Fees”) for full-time work and as pro-rated for less time worked. The Company will not withhold any income or payroll taxes from the Consulting Fees, and Consultant will be responsible for
all applicable federal, state, local and foreign income and/or payroll taxes due as a result of receipt of the Consulting Fees. 
 2.4
Extension of Consulting Term. 
 2.4.1 Prior to commencement of the Consulting Term, Glenn may elect to extend the Consulting Term
beyond the initial scheduled end date by the number of days equal to Glenn’s unused Paid Time Off “(PTO”) days accrued as of the last day of the Employment Term. Glenn must provide the Company with written notice of such election no
less than ten days prior to commencement of the Consulting Term. 
 2.4.2 Prior to the expiration of the Consulting Term, including any
extension as provided in Section 2.4.1, Glenn may elect to extend the Consulting Term beyond its scheduled end date by up to an additional twelve months, to be paid at a mutually agreed rate and scope of work by the parties. Glenn must provide
the Company with written notice of such election no less than ten days prior to expiration of the Consulting Term. 
 2.5 Consulting
Duties. During the Consulting Term, including any extensions as provided in Section 2.4.1 or 2.4.2, Glenn will report to the Company’s CEO, and shall have the duties and responsibilities as may be reasonably assigned from time to time
by the CEO. 

  
 3 

 ARTICLE 3 

Other Compensation and Benefits 

3.1 Restricted Stock Units. 

3.1.1 During the Employment Term, all unvested time-based Restricted Stock Units held by Glenn shall continue to vest, in accordance with the
terms and conditions of the applicable Restricted Stock Unit Agreements (each, an “RSU Agreement”). 
 3.1.2 Upon the expiration
of the Employment Term, the vesting of all unvested time-based Restricted Stock Units as set forth on the RSU vesting schedule attached as Exhibit B shall immediately accelerate, and such RSUs will become fully vested. 

3.1.3 As of the Effective Date, the performance-based Restricted Stock Units held by Glenn as set forth on Exhibit B which pertain to the
performance period ending on August 31, 2017 will expire unvested. The performance-based Restricted Stock Units held by Glenn as set forth in Exhibit B which pertain to the performance period ending on August 31, 2016 shall continue to
vest based on performance in accordance with the terms and conditions of the applicable RSU Agreement, as determined by the Compensation Committee in November 2016, as if Glenn had remained an eligible RSU plan participant at the time of the
vesting. 
 3.1.4 Each RSU Agreement described above is deemed to be amended to provide for modified vesting as described above. 

3.2 Office/Equipment Support. During the Employment Term and the Consulting Term, including any extensions under Section 2.4, the
Company shall provide reasonable access to the Company’s offices and administrative support and support to Glenn as reasonably necessary for Glenn to perform services for the Company. This support includes providing Glenn with a mobile
telephone, iPad, and executive assistance support. 
 3.3 Paid Time Off. During the Employment Term, Glenn shall be entitled to
accrue PTO in accordance with the Company’s standard policies and guidelines. Unless Glenn elects to extend the Consultation Term pursuant to Section 2.4.1, any accrued, unused PTO will be paid out at the expiration of the Employment Term.

 3.4 401(k). During the Employment Term, Glenn is entitled to participate in the Company’s 401(k) program in the same manner
as all other employees and, upon termination of employment, shall have the same options available to all other employees under such program. 

3.5 Life Insurance. During the Employment Term, Glenn is entitled to participate in and benefit from the Company’s group term life
insurance coverage in the same manner of all other employees and, upon termination of employment, shall have the options available to all other employees under such program. During the Employment Term and the Consulting Term, including any extension
as provided in Section 2.4, the Company shall continue Glenn’s executive life insurance, in place as of the Effective Date. In accordance with the Company’s executive life insurance program, the Company shall transfer to Glenn the
ownership of any such Company owned policy, including without limitation the right to the cash surrender value of the policy, upon expiration of employment or, if applicable, consulting engagement. 

  
 4 

 3.6 Medical Insurance. During the Employment Term, Glenn will be eligible to participate
in, subject to Glenn’s continued payment of his portion of such premiums, all employee benefit plans available to full-time, executive employees of the Company, subject to the terms and conditions of the Company’s benefit plans, including
health, dental and vision insurance benefits. During the Consulting Term, including any extensions under Section 2.4, but in any event not to exceed eighteen (18) months following the expiration of the Employment Term, the Company shall
provide for continuation coverage pursuant to COBRA for Glenn and/or his family provided that Glenn pays the Company an amount equal to the applicable premium for employee health benefits that Glenn paid as an employee of the Company.
“COBRA” refers to the Consolidated Omnibus Budget Reconciliation Act of 1985. Company reserves the right to change or eliminate its medical benefits applicable to all employees and to Glenn on a prospective basis without advance notice to
Glenn. 
 3.7 Automobile Allowance. Until December 31, 2016, Glenn shall be entitled to participate in the Company’s
automobile allowance program at the same level as of the Effective Date. 
 3.8 Country Club Dues. Until December 31, 2016, the
Company agrees to continue paying such portion of Glenn’s country club dues as the Company is paying as of the Effective Date. 
 3.9
IRS Section 409A. The parties intend that all compensation and benefits provided for under this Agreement shall either be exempt from IRC §409A, or shall be paid or provided in accordance with the requirements of IRC §409A,
including, without limitation, the imposition of a delay in the payment of cash or transfer of other benefits to Glenn until a date that is six months after the date of Glenn’s separation from service, as that term is defined in Treas. Reg.
§1.409A-1(h), if Glenn is determined to be a “specified employee” as defined under IRC §409A. 
 3.10 SEC
Compliance. During the Employment Term and Consulting Term, including any extensions under Section 2.4, Glenn shall comply, to the extent applicable, with all requirements of Section 16 of the Securities Exchange Act of 1934 and the
Company’s insider trading policies and procedures. 
 3.11 Condition. Glenn expressly acknowledges that all compensation,
bonuses, and benefits provided under this Article 3 are contingent upon and subject to Glenn’s compliance with Article 4 below. 

ARTICLE 4 
 Restrictive
Covenants 
 4.1 Protected Information. 

4.1.1 Covenant. During and after expiration of Glenn’s Employment Term and Consulting Term, including extensions under
Section 2.4, Glenn shall not, directly or indirectly, use, divulge, furnish or make accessible to any person, firm, corporation, association or other entity, or use in any manner, any Protected Information (as defined below), or cause any
Protected Information to enter the public domain, except as may be required in the regular course of Glenn’s engagement by the Company. 

  
 5 

 4.1.2 Access to Protected Information. The Company has advised Glenn and Glenn has
acknowledged that it is the policy of the Company to maintain as secret and confidential all Protected Information, and that Protected Information has been and will be developed at substantial cost and effort to the Company. Glenn acknowledges that
Glenn will acquire Protected Information with respect to the Company, which information is a valuable, special, and unique asset of the Company’s business and operations, and that disclosure of such Protected Information would cause irreparable
damage to the Company. 
 4.1.3 Glenn-Created Protected Information. Glenn agrees to promptly disclose to the Company all Protected
Information developed in whole or in part by Glenn during employment and/or consulting engagement with the Company and which relates to the Company’s business. Such Protected Information is, and shall remain, the exclusive property of the
Company. All Protected Information created during Glenn’s employment and/or consulting engagement with the Company (excluding writings unrelated to the Company’s business) are considered to be “works-for-hire” for the benefit of
the Company, and the Company shall own all rights in such Protected Information. 
 4.1.4 Return of Confidential Records. All forms
of information and all physical property made or compiled by Glenn prior to or during the Employment Term and the Consulting Term, including extensions under Section 2.4, containing or relating in any way to Protected Information shall be the
Company’s exclusive property. All such materials and any copies thereof shall be held by Glenn in trust solely for the benefit of the Company and shall be delivered to the Company upon expiration of Glenn’s employment and/or consulting
engagement, or at any other time upon the Company’s request. 
 4.1.5 Protected Information. “Protected Information”
means trade secrets, confidential and propriety business information of the Company, any information of the Company other than information which has entered the public domain (unless Employee caused such information to enter the public domain), and
all valuable and unique information and techniques acquired, developed or used by the Company relating to its business, operations, employees, customers and suppliers, which give the Company a competitive advantage over those who do not know the
information and techniques, and which are protected by the Company from unauthorized disclosure, including but not limited to, financial information and conditions, customer and customer lists (including potential customers identified by the
Company), sources of supply, processes, patented or proprietary technologies, plans, materials, pricing information, internal memoranda, marketing plans, internal policies, and products and services which may be developed from time to time by the
Company and its agents or employees. 
 4.2 Non-Solicitation. Glenn agrees that, during his Employment Term and Consulting Term,
including extensions under Section 2.4, and for a period of two (2) years after the expiration of the employment and/or consulting engagement, including extensions thereto, or the earlier termination of this Agreement, Glenn will not
directly or indirectly, in any capacity (a) solicit any customer or vendors of the Company or its affiliates; or (b) persuade or seek to persuade any customer or vendors of the Company or its affiliates to cease to do business or reduce
the amount of business that customer or vendor is then doing with the Company or its affiliates, in each case other than in the normal course of business relating to Glenn’s employment with a company not covered by the restrictions defined in
Section 4.5. 

  
 6 

 4.3 Non-Interference with Employment Relationships. Glenn agrees that during his
Employment Term and Consulting Term, including extensions under Section 2.4, and for a period of two (2) years after the expiration of Glenn’s employment and/or consulting engagement, including extensions thereto, or the earlier
termination of this Agreement, Glenn will not (a) directly or indirectly solicit, induce, or encourage any employee of the Company to leave his or her employment with the Company or interfere with any employment relationship between the Company
and any of its employees, or (b) hire or encourage or assist any other person to hire any person who has been an employee of the Company within the previous twelve (12) months. 

4.4 Disclosure of Business Opportunities. During the Employment Term and the Consulting Term, including extensions under
Section 2.4, Glenn agrees to promptly and fully disclose to the Company, and not to divert to his own use or benefit or the use or benefit of others, any business opportunities involving any existing or prospective line of business, customer,
product or activity of the Company or any business opportunities that otherwise should be afforded to the Company. 
 4.5
Non-Competition. As a condition of Glenn’s consulting engagement under Article 2 of this Agreement, Glenn agrees that, during the Consulting Term, including extensions under Section 2.4, and for a period of two (2) years after
the expiration of the Consulting Term, including any extensions thereto, or the earlier termination of this Agreement, Glenn will not directly or indirectly, own (as an asset or equity owner), be employed by, or consult for any individual or entity,
or participate in the start-up of, any business that (i) manufactures railcars, railcar components or barges in North America, Europe, Brazil or the GCC countries; (ii) maintains, services or repairs railcars or railcar parts and
components in North America, Europe, Brazil, or the GCC countries; (iii) leases railcars, provided that this subjection 4.5(iii) will only apply to leasing businesses located and/or doing business in Europe and to GATX, Trinity Leasing,
Union Tank Car, American Railcar Leasing, and any affiliate or captive leasing company of any of the foregoing or any other freight railcar manufacturer; (iv) manages railcars in North America, Europe, Brazil or the GCC countries, subject to
the exceptions set forth immediately following. This Section does not prevent Glenn from working for agreed upon railcar management companies and suppliers for either employment or consulting engagements, provided that the CEO consents to such a
relationship after consultation with Glenn and based on the CEO’s determination in his reasonable discretion that such a relationship does not create a conflict of interest or harm to the Company. Ownership of one percent (1%) or less of
the outstanding stock of a publicly traded corporation will not be deemed a violation of this provision. Glenn acknowledges that the geographic scope of this restriction is reasonably necessary to protect the Company’s legitimate interests,
particularly in light of Glenn’s position with the Company, Glenn’s corresponding duties, responsibilities and authority, and the Company’s current business plans and expansion efforts. Notwithstanding the foregoing, Company will, on
request of Glenn, give reasonable good faith consideration to waiving all or a portion of the covenant to enable Glenn to obtain new employment, provided Glenn furnishes the Company with the name of the employer, a description of the employer’s
business and the job description. The Company will consider waiving all or a portion of the covenants if the Company determines, in its good faith judgment, that the new employment does not pose a substantial threat to the Company’s competitive
or economic interest. 

  
 7 

 4.6 Publicity. Except as otherwise required by law, the parties agree to work together
regarding any public announcement related to this Agreement and the covenants herein. The parties will cooperate and coordinate messaging and issuance of any press release, including internal communication regarding Glenn’s ongoing role and
transition within the Company. 
 4.7 Non-Disparagement. Glenn agrees not to disparage the Company or its officers, directors,
employees, shareholders or agents, in any manner likely to be harmful to them or their business, business relationships or personal reputations. Glenn shall respond accurately and fully to any questions, inquiry or request for information when
required by legal process, notwithstanding the foregoing. Glenn will report to the CEO any defamatory comments made about him by any individual Company employee or agent, and the Company will take reasonable measures to cease such communications.

 4.8 Cooperation. Glenn agrees that during his Employment Term and Consulting Term, including any extensions under
Section 2.4, and for a period of twelve (12) months after the expiration of Glenn’s employment and/or consulting engagement, including extensions thereto, or the earlier termination of this Agreement, Glenn will cooperate with the
Company in responding to the reasonable requests of the Board, the Company’s or its General Counsel, in connection with outstanding projects and any and all existing or future litigation, arbitrations, mediations or investigations brought by or
against the Company, or its affiliates, agents, officers, directors or employees, whether administrative, civil or criminal in nature, in which the Company reasonably deems Glenn’s cooperation necessary or desirable. In such matters, Glenn
agrees to provide the Company with reasonable advice, assistance, and information, including offering and explaining evidence, providing sworn statements, and participating in discovery and trial preparation and testimony. Glenn also agrees to
promptly send the Company copies of all correspondence (for example, but not limited to, subpoenas) received by Glenn in connection with any such legal proceedings, unless Glenn is expressly prohibited by law from so doing. The Company will
reimburse Glenn for reasonable out-of-pocket expenses incurred by Glenn as a result of his cooperation with the obligations described in this Section, within 30 day of the presentation of appropriate documentation thereof, in accordance with the
Company’s standard reimbursement policies and procedures. 
 4.9 Survival of Undertakings and Injunctive Relief. 

4.9.1 Survival. The provisions of Sections 4.1, 4.2, 4.3, 4.4, 4.5, 4.6, 4.7 and 4.8 shall survive the expiration of Glenn’s
employment and/or consulting engagement, or the earlier termination of this Agreement (irrespective of the reasons therefore). In the event of any violation of Sections 4.1, 4.2, 4.3, 4.4, and 4.5 Glenn further agrees that the time periods set forth
in such sections shall be extended by the period of such violation. 
 4.9.2 Injunctive Relief. Glenn acknowledges and agrees that
the restrictions imposed upon him by this Article 4 and the purpose of such restrictions are reasonable and are designed to protect the Protected Information and the continued success of the Company without unduly restricting Glenn’s future
employment by himself or others. Furthermore, Glenn acknowledges that, in view of the Protected Information which Glenn has or will acquire or has or will have access to, and in view of the necessity of the restrictions contained in this Article 4
any violation of any provision of this Article 4 hereof would cause irreparable injury to the Company with respect to the resulting disruption in its operations. By reason of the foregoing, 

  
 8 

 
Glenn consents and agrees that if he violates any of the provisions of this Article 4, the Company shall be entitled, in addition to any other remedies that it may have, including money damages,
to an injunction to be issued by a court of competent jurisdiction, restraining Glenn from committing or continuing any violation of such sections of this Agreement. 

4.10 References to the Company. All references to the Company in this Article 4 shall be deemed to include any subsidiary, parent,
successor in interest, or other affiliate of the Company. 
 ARTICLE 5 

Release of Claims 
 5.1
Release. In exchange for and in consideration of the payments, benefits, and other commitments described herein, including but not limited to Glenn’s continued employment by the Company, as provided by Article 1, and consulting
engagement with the Company, as provided by Article 2, Glenn, for him and for each of his heirs, executors, administrators and assigns, hereby fully releases, acquits and forever discharges the Company and its subsidiaries, divisions, affiliates,
successors, assigns, beneficiaries, insurers, representatives, agents, and all of the Company’s past and present directors, officers and employees, from any and all, both past and present, claims, liabilities, causes of action, demands to any
rights, damages, costs, attorneys’ fees, expenses and compensation whatsoever, of whatever kind or nature, in law, equity or otherwise, whether known or unknown, vested or contingent, suspected or unsuspected, that Glenn may now have, has ever
had, or hereafter may have, relating directly or indirectly to his employment with the Company or its subsidiaries and/or his termination of employment. Glenn also releases any and all claims Glenn may have that arose prior to the date of this
Agreement and hereby specifically waives and releases all claims, including, but not limited to, those arising under Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Equal Pay Act; the Americans With Disabilities Act of
1990; the Rehabilitation Act of 1973; Sections 1981 through 1988 of Title 42 of the United States Code; the Immigration Reform and Control Act; the Workers Adjustment and Retraining Notification Act; the Occupational Safety and Health Act; the
Sarbanes-Oxley Act of 2002; the Consolidated Omnibus Budget Reconciliation Act (COBRA); the Family and Medical Leave Act; the Employee Retirement Income Security Act of 1971; the National Labor Relations Act; the Fair Labor Standards Act; the
Genetic Information Nondiscrimination Act (GINA); all as amended, and any and all similar state or local statutes, ordinances, or regulations, as well as all claims arising under federal, state, or local law involving any tort, an express or implied
employment contract, covenant of good faith and fair dealing or other statute, contract, breach of fiduciary duty, fraud, misrepresentation, defamation or other theory. Notwithstanding the foregoing, Glenn is not waiving any right that cannot be
waived under law, including the right to file an administrative charge or participate in an administrative investigation or proceeding; however, Glenn hereby disclaims and waives any right to share or participate in any monetary award resulting from
the prosecution of such charge or investigation or proceeding. 
 ARTICLE 6 

Miscellaneous 
 6.1
Assignment and Transfer. Glenn’s rights and obligations under this Agreement shall not be transferable by assignment or otherwise, and any purported assignment, transfer or 

  
 9 

 
delegation thereof shall be void. This Agreement shall inure to the benefit of, and be binding upon and enforceable by, any purchaser of substantially all of the Company’s assets, any
corporate successor to the Company or any assignee thereof. 
 6.2 Governing Law. This Agreement shall be governed by and construed
in accordance with the laws of the State of Oregon without regard to conflict of law principles. 
 6.3 Entire Agreement. This
Agreement, together with the amendment to the Restricted Stock Agreements, contains the entire agreement and understanding between the parties hereto and supersedes any prior or contemporaneous written or oral agreements, representations and
warranties between them respecting the subject matter hereof. 
 6.4 Amendment. This Agreement may be amended only in writing signed
by Glenn and by a duly authorized executive officer of the Company. 
 6.5 Severability. If any term, provision, covenant or
condition of this Agreement, or the application thereof to any person, place or circumstance, shall be held to be invalid, unenforceable or void, the remainder of this Agreement and such term, provision, covenant or condition as applied to other
persons, places and circumstances shall remain in full force and effect. 
 6.6 Notices. Any notice, request, consent or approval
required or permitted to be given under this Agreement or pursuant to law shall be sufficient if in writing, and if and when sent by certified or registered mail, with postage prepaid, to Glenn’s residence (as noted in the Company’s
records), or to the Company’s principal office, as the case may be. 
 6.7 Disputes. Any controversy, claim or dispute arising
out of or relating to this Agreement or the employment and/or consulting relationship, either during the existence of the employment and/or consulting relationship or afterwards, between the parties hereto, their assignees, their affiliates, their
attorneys, or agents, shall be litigated solely in state or federal court in Multnomah County, Oregon. Each party (a) submits to the jurisdiction of such court, (b) waives the defense of an inconvenient forum, (c) agrees that valid
consent to service may be made by mailing or delivery of such service to the Oregon Secretary of State (the “Agent”) or to the party at the party’s last known address, if personal service delivery cannot be easily effected, and
(d) authorizes and directs the Agent to accept such service in the event that personal service delivery cannot easily be effected. 

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date set forth below. 

 

									
	THE GREENBRIER COMPANIES, INC.
				
	By:	 	 /s/ Martin R. Baker
	 		 	 /s/ William G. Glenn

	  
 Title:
	 	  
 Senior Vice President
	 		 	WILLIAM G. GLENN
					
	Dated:	 	 February 26, 2016
	 		 	Dated:	 	 February 26, 2016

  
 10 

 EXHIBIT A 

RELEASE OF CLAIMS 

William G. Glenn, together with his heirs, family members, executors, administrators, agents and assigns (“Glenn”) hereby fully
releases, acquits and forever discharges The Greenbrier Companies, Inc., (“Greenbrier”) its subsidiaries, affiliates, officers, directors, shareholders, employees, agents and attorneys, both past and present (collectively, the
“Released Parties” and individually, a “Released Party”) from any and all claims, liabilities, causes of action, demands to any rights, costs, attorneys’ fees, expenses and compensation whatsoever, of whatever kind or
nature, in law, equity or otherwise, whether known or unknown, vested or contingent, suspected or unsuspected, that Glenn may now have, has ever had, or hereafter may have, relating directly or indirectly to his employment with Greenbrier and/or his
termination of employment. 
 Glenn also releases any and all claims Glenn may have that arose prior to the date of this Release and hereby
specifically waives and releases all claims against any Released Party, including without limitation those arising under Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Equal Pay Act; the Americans With Disabilities Act
of 1990; the Rehabilitation Act of 1973; the Age Discrimination in Employment Act; Sections 1981 through 1988 of Title 42 of the United States Code; the Immigration Reform and Control Act; the Workers Adjustment and Retraining Notification Act; the
Occupational Safety and Health Act; the Sarbanes-Oxley Act of 2002; the Consolidated Omnibus Budget Reconciliation Act (COBRA); the Family and Medical Leave Act; the Employee Retirement Income Security Act of 1971; the National Labor Relations Act;
the Fair Labor Standards Act; all as amended, and any and all similar state or local statutes, ordinances, or regulations, as well as all claims arising under federal, state, or local law involving any tort, an express or implied employment
contract, covenant of good faith and fair dealing or other statute, contract, breach of fiduciary duty, fraud, misrepresentation, defamation or other theory. 

This release includes a release of all claims under the Age Discrimination in Employment Act (“ADEA”), and, therefore, pursuant to
the requirement of the ADEA, Glenn acknowledges that he has been advised in writing that: (a) this release includes, but is not limited to, all rights or claims arising under the ADEA up to and including the date of execution of this release;
(b) Glenn should consult with an attorney before executing this release; (c) Glenn has up to twenty-one (21) days within which to consider this release; (d) Glenn has seven (7) days following execution of this release to
revoke this release; and (e) this release of claims under the ADEA shall become effective and enforceable on the eighth day after Glenn signs and delivers this Agreement to the Company’s Chief Human Resources Officer. Nothing in this
release prevents or precludes Glenn from challenging, or seeking a determination in good faith of, the validity of this waiver under the ADEA or the Older Workers’ Benefit Protection Act (nor does it impose

  
 11 

 
any condition precedent, penalties or cost for doing so, unless specifically authorized by federal law), or from participating in any investigation or proceeding conducted by the Equal Employment
Opportunity Commission. 
  

			
	  

William G. Glenn

		
	Date signed:	 	  

  
 12 

 EXHIBIT B 

RSU VESTING SCHEDULE 
  

																																							
	 Status of Unvested RSUs
	  	Date of
Grant	  	# of
Remaining
Units	 	  	Vesting Date	 
	 William Glenn
	  		  				  	 	5/5/16	  	  	 	5/22/16	  	  	 	5/28/16	  	  	 	8/31/16	* 	 	 	5/5/17	  	  	 	5/22/17	  	  	 	8/31/17	* 	 	 	5/22/18	  
											
	 Time Based Units
	  	5/28/13	  	 	2,539	  	  				  				  	 	2,539	  	  				 				  				  				 			
		  	5/5/14	  	 	2,691	  	  	 	1,346	  	  				  				  				 	 	1,345	  	  				  				 			
		  	5/22/15	  	 	6,250	  	  				  	 	2,084	  	  				  				 				  	 	2,083	  	  				 	 	2,083	  
		  		  	  
	  
	 	  				  				  				  				 				  				  				 			
	 Total Time Based Units
	  		  	 	11,480	  	  				  				  				  				 				  				  				 			
		  		  	  
	  
	 	  				  				  				  				 				  				  				 			
											
	 Performance Based Units
	  	5/5/14	  	 	4,037	  	  				  				  				  	 	4,037	  	 				  				  				 			
		  	5/22/15	  	 	6,250	  	  				  				  				  				 				  				  	 	6,250	  	 			
		  		  	  
	  
	 	  				  				  				  				 				  				  				 			
	 Total Performance Based
	  		  	 	10,287	  	  				  				  				  				 				  				  				 			
		  		  	  
	  
	 	  				  				  				  				 				  				  				 			
											
	 Total RSUs
	  		  	 	21,767	  	  				  				  				  				 				  				  				 			
		  		  	  
	  
	 	  				  				  				  				 				  				  				 			

  

	*	Performance RSUs at Target Level 

  
 13EX-10.5

 Exhibit 10.5 

FIRST AMENDMENT TO CREDIT AGREEMENT 

THIS FIRST AMENDMENT TO CREDIT AGREEMENT, dated as of February 19, 2016 (this “Amendment”), is entered into among
GREENBRIER LEASING COMPANY LLC, an Oregon limited liability company (the “Borrower”), the Lenders party hereto, and BANK OF AMERICA, N.A., as Administrative Agent for the Lenders (in such capacity, the “Administrative
Agent”). Capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Credit Agreement (as defined below). 

RECITALS 
 WHEREAS, the
Borrower, the Lenders and the Administrative Agent are parties to that certain Credit Agreement, dated as of March 20, 2014 (as amended or modified from time to time, the “Credit Agreement”); and 

WHEREAS, the parties hereto have agreed to amend the Credit Agreement as provided herein. 

NOW, THEREFORE, in consideration of the agreements contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
 AGREEMENT 

1. Amendments. 
  

	 	(a)	The following definitions are hereby added to Section 1.01 of the Credit Agreement in the appropriate alphabetical order to read as follows: 

“Notice of Loan Prepayment” means a notice of prepayment with respect to a Loan, which shall be substantially
in the form of Exhibit 2.06 or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately
completed and signed by a Responsible Officer. 

  
 1 

	 	(b)	The following definitions in Section 1.01 of the Credit Agreement are hereby amended to read as follows: 

“Loan Notice” means a notice of (a) a Borrowing, (b) a conversion of Term Loans from one Type to the
other, or (c) a continuation of Eurocurrency Rate Loans, pursuant to Section 2.02(a), which shall be substantially in the form of Exhibit 2.02 or such other form as may be approved by the Administrative Agent (including
any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower. 

“Parent Credit Facility” means that certain Third Amended and Restated Credit Agreement, dated as of
October 29, 2015 among the Parent, the guarantors from time to time party thereto, the lenders from time to time party thereto and Bank of America as administrative agent (including, without limitation, any guarantee agreements and security
documents and other documentation entered into in connection therewith), as any such agreement or facility may be amended (including any amendment and restatement thereof), restated, supplemented, refinanced, replaced (in whole or in part), or
otherwise modified in writing from time to time, including any agreement (including any subsequent agreement or agreements) exchanging, extending the maturity of, refinancing, renewing, replacing, substituting or otherwise restructuring, whether in
the bank or debt capital markets or otherwise (or combination thereof) (including increasing the amount of available borrowings thereunder or adding or removing borrowers or guarantors thereunder) and whether in whole or in part, all or any portion
of the Indebtedness under such agreement or facility or any successor or replacement agreement or facility (including, without limitation, any guarantee agreements and security documents and other documentation entered into in connection therewith).

  
 2 

 “Responsible Officer” means the chief executive officer,
president, vice president, chief financial officer, controller, secretary or assistant secretary, treasurer or assistant treasurer of the Borrower and, solely for purposes of notices given pursuant to Article II, any other officer or employee
of the Borrower so designated by any of the foregoing officers in a notice to the Administrative Agent or any other officer or employee of the Borrower designated in or pursuant to an agreement between the Borrower and the Administrative Agent. Any
document delivered hereunder that is signed by a Responsible Officer of the Borrower shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of the Borrower and such Responsible
Officer shall be conclusively presumed to have acted on behalf of the Borrower. 
  

	 	(c)	Subclause (b) of the definition of “Change of Control” is hereby amended to read as follows: 

(b) during any period of 24 consecutive months, a majority of the members of the board of directors or other equivalent
governing body of the Parent cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent governing body
was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination to that board or other
equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body. 

 

	 	(d)	The definition of “Eurocurrency Rate” in Section 1.01 of the Credit Agreement is hereby amended to add the following sentence at the end thereof: 

Notwithstanding the foregoing, if the Eurocurrency Rate shall be less than zero, such rate shall be deemed zero for purposes of this
Agreement. 

  
 3 

	 	(e)	The definition of “Consolidated Funded Indebtedness” is hereby amended to add the following sentence at the end thereof: 

Notwithstanding the foregoing, for so long as neither the Borrower nor any of its Subsidiaries is designated as a “borrower” or an
“issuer” under the Parent Credit Facility, all Indebtedness and other obligations (whether consisting of guarantees or otherwise) in respect of the Parent Credit Facility shall be excluded from the definition of Consolidated Funded
Indebtedness. 
  

	 	(f)	Section 2.02(a) of the Credit Agreement is hereby amended to read as follows: 

(a) Each Borrowing, each conversion of Term Loans from one Type to the other, and each continuation of Eurocurrency Rate Loans
shall be made upon the Borrower’s irrevocable notice to the Administrative Agent which may be given by: (A) telephone or (B) a Loan Notice; provided that any telephonic notice must be confirmed promptly by delivery to the
Administrative Agent of a Loan Notice. Each Loan Notice must be received by the Administrative Agent not later than 11:00 a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Term Loans
that are Eurocurrency Rate Loans or of any conversion of any such Eurocurrency Rate Loans to Base Rate Loans, and (ii) on the Closing Date for the Borrowing of Term Loans that are Base Rate Loans. Notwithstanding the foregoing, if the Borrower
wishes to request Eurocurrency Rate Loans having an Interest Period other than seven (7) days, one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the
Administrative Agent not later than 11:00 a.m. (i) four Business Days prior to the requested date of such Borrowing, conversion or continuation of Eurocurrency Rate Loans, whereupon the Administrative Agent shall give prompt notice to the
Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m., on the applicable Business Day specified in the immediately preceding sentence for which a request for such a
Borrowing, conversion or continuation must be received, the Administrative Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each conversion to
or continuation of Eurocurrency Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole
multiple of $100,000 in excess thereof. Each Loan Notice shall specify (i) whether the Borrower is requesting a Borrowing, a conversion of Term Loans from one Type to the other, or a continuation of Eurocurrency Rate Loans, (ii) the
requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Term Loans to be borrowed, converted or continued, (iv) the Type of Term Loans to be borrowed or
to which existing Term Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Term Loan in a Loan Notice or if the Borrower fails to give a

  
 4 

 
timely notice requesting a conversion or continuation, then the applicable Term Loans shall be made as, or converted to, Base Rate Loans. Any automatic conversion to Base Rate Loans shall be
effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If the Borrower requests a conversion to, or continuation of Eurocurrency Rate Loans in any such Loan Notice, but fails to
specify an Interest Period, it will be deemed to have specified an Interest Period of one month. 
  

	 	(g)	The first sentence in Section 2.06(a) of the Credit Agreement is hereby amended to read as follows: 

The Borrower may, upon delivery of a Notice of Loan Prepayment from the Borrower to the Administrative Agent, at any time or
from time to time voluntarily prepay the Loans in whole or in part without premium or penalty; provided that such notice must be received by the Administrative Agent not later than 10:00 a.m. (i) three Business Days prior to the
requested date of prepayment of Eurocurrency Rate Loans and (ii) on the requested date of prepayment of Base Rate Loans. 
  

	 	(h)	The following sentence is hereby added to the end of Section 5.18 of the Credit Agreement to read as follows: 

The Borrower and its Subsidiaries have conducted their businesses in compliance in all material respects with the United States
Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other similar anti-corruption legislation in other jurisdictions and have instituted and maintained policies and procedures designed to promote compliance in all material respects
with such laws. 
  

	 	(i)	The following clause is hereby added to the end of Section 7.11 of the Credit Agreement to read as follows: 

Directly or indirectly use the proceeds of any Credit Extension for any purpose which would breach the United States Foreign
Corrupt Practices Act of 1977, the UK Bribery Act 2010 or other similar anti-corruption legislation in other jurisdictions. 

  
 5 

	 	(j)	The first paragraph of Section 10.02(b) of the Credit Agreement is hereby amended to read as follows: 

(b) Electronic Communications. Notices and other communications to the Lenders hereunder may be delivered or furnished
by electronic communication (including e mail, FpML messaging, and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Lender pursuant to
Article II if such Lender has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Borrower may each, in its discretion, agree to accept
notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. 

 

	 	(k)	The phrase “arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower Materials through the Internet, telecommunications, electronic or other information systems” appearing
in Section 10.02(c) of the Credit Agreement is hereby amended to read as follows: 

 “arising out of
the Borrower’s or the Administrative Agent’s transmission of Borrower Materials or notices through the Platform, any other electronic platform or electronic messaging service or through the Internet” 

 

	 	(l)	Section 10.06(f) of the Credit Agreement is hereby deleted. 

  

	 	(m)	A new Section 10.19 is hereby added to the Credit Agreement to read as follows: 

10.19      Electronic Execution of Assignments and Certain Other Documents. 

The words “delivery,” “execute,” “execution,” “signed,” “signature,” and
words of like import in any Loan Document or any other document executed in connection herewith shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by
the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or 

  
 6 

 
enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any
applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act;
provided that notwithstanding anything contained herein to the contrary neither the Administrative Agent nor any Lender is under any obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to
by the Administrative Agent or such Lender pursuant to procedures approved by it and provided further without limiting the foregoing, upon the request of any party, any electronic signature shall be promptly followed by such manually executed
counterpart. 
  

	 	(n)	A new Exhibit 2.06 to the Credit Agreement is hereby added in the form of Exhibit 2.06 attached hereto. 

2. Effectiveness; Conditions Precedent. This Amendment shall be effective upon receipt by the Administrative Agent of copies of this
Amendment duly executed by the Borrower and the Required Lenders. 
 3. Expenses. To the extent required by Section 10.04 of the
Credit Agreement, the Borrower agrees to reimburse the Administrative Agent for all reasonable out-of-pocket costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Amendment, including
without limitation the reasonable fees and expenses of Moore & Van Allen, PLLC. 
 4. Ratification of Credit Agreement. The
Borrower acknowledges and consents to the terms set forth herein and agrees that this Amendment does not impair, reduce or limit any of its obligations under the Loan Documents, as amended hereby. This Amendment is a Loan Document. 

5. Authority/Enforceability. The Borrower represents and warrants as follows: 

(a) It has taken all necessary action to authorize the execution, delivery and performance of this Amendment. 

  
 7 

 (b) This Amendment has been duly executed and delivered by the Borrower and
constitutes its legal, valid and binding obligations, enforceable in accordance with its terms, subject to applicable Debtor Relief Laws and to general principles of equity. 

(c) No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental
Authority or any other Person is necessary or required in connection with the execution, delivery or performance by the Borrower of this Amendment except (a) as have been obtained or made and are in full force and effect, (b) for the
authorizations, approvals, actions, notices and filings listed on Schedule 5.03 to the Credit Agreement, (c) filings and recordings with respect to the Collateral to be made, or otherwise delivered to the Administrative Agent for filing
or recordation and (d) notices and filings required by law in connection with the exercise of remedies pursuant to the Loan Documents. 

(d) The execution and delivery of this Amendment does not (i) contravene the terms of its Organization Documents or
(ii) violate any material Law. 
 6. Representations and Warranties. The Borrower represents and warrants to the Lenders that
after giving effect to this Amendment (a) the representations and warranties set forth in Article V of the Credit Agreement are true and correct in all material respects (or, if such representation or warranty is qualified by materiality
or Material Adverse Effect, it is true and correct in all respects as drafted) as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all
material respects (or, if such representation or warranty is qualified by materiality or Material Adverse Effect, it is true and correct in all respects as drafted) as of such earlier date, and (b) no event has occurred and is continuing which
constitutes a Default. 
 7. Counterparts/Telecopy. This Amendment may be executed in any number of counterparts, each of which when
so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. Delivery of executed counterparts of this Amendment by telecopy or other secure electronic format (.pdf) shall be effective as an
original. 
 8. FATCA Certification. For purposes of determining withholding Taxes imposed under FATCA, from and after the date of
this Amendment, the Borrower and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) the Credit Agreement as not qualifying as a “grandfathered obligation” within the meaning of
Treasury Regulation Section 1.1471-2(b)(2)(i). 

  
 8 

 9. GOVERNING LAW. THIS AMENDMENT 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. 
 10. Successors and
Assigns. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 

11. Headings. The headings of the sections hereof are provided for convenience only and shall not in any way affect the meaning or
construction of any provision of this Amendment. 
 12. Severability. If any provision of this Amendment is held to be illegal,
invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Amendment shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the
illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall
not invalidate or render unenforceable such provision in any other jurisdiction. 
 13. No Waiver. The execution, delivery and
effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor, except as expressly provided herein,
constitute a waiver or amendment of any provision of any of the Loan Documents.
 [remainder of page intentionally left blank] 

  
 9 

 Each of the parties hereto has caused a counterpart of this Amendment to be duly executed and
delivered as of the date first above written. 
  

							
	BORROWER:	 		 	GREENBRIER LEASING COMPANY, LLC,
			
		 		 	an Oregon limited liability company
				
		 		 	By:	 	 /s/ Lorie L.Tekorius

				
		 		 	Name:	 	Lorie L. Tekorius
				
		 		 	Title:	 	Senior Vice President and Treasurer

  
 GREENBRIER LEASING COMPANY
LLC 
 FIRST AMENDMENT TO CREDIT AGREEMENT 

							
	ADMINISTRATIVE AGENT:	 		 	BANK OF AMERICA, N.A., as Administrative
		 		 	Agent
				
		 		 	By:	 	 /s/ Joan Mok

				
		 		 	Name:	 	 Joan Mok

				
		 		 	Title:	 	 Vice President

  
 GREENBRIER LEASING COMPANY
LLC 
 FIRST AMENDMENT TO CREDIT AGREEMENT 

 ACCEPTED AND AGREED AS OF THE DATE FIRST ABOVE WRITTEN: 

 

							
	LENDERS:	 		 	BANK OF AMERICA, N.A., as a Lender
				
		 		 	By:	 	 /s/ Michael Snook

				
		 		 	Name:	 	 Michael Snook

				
		 		 	Title:	 	 Senior Vice President

			
		 		 	UNION BANK, N.A., as a Lender
				
		 		 	By:	 	 /s/ Stephen A. Sloan

				
		 		 	Name:	 	 Stephen A. Sloan

				
		 		 	Title:	 	 Director

			
		 		 	DVB BANK SE, as a Lender
				
		 		 	By:	 	 /s/ Joachim Steck

				
		 		 	Name:	 	 Joachim Steck

				
		 		 	Title:	 	 Vice President

				
		 		 	By:	 	 /s/ Jann Gertjegerdes

				
		 		 	Name:	 	 Jann Gertjegerdes

				
		 		 	Title:	 	 Senior Vice President

			
		 		 	FIFTH THIRD BANK, as a Lender
				
		 		 	By:	 	 /s/ Andrew J. Valko

				
		 		 	Name:	 	 Andrew J. Valko

				
		 		 	Title:	 	 AVP

  
 GREENBRIER LEASING COMPANY
LLC 
 FIRST AMENDMENT TO CREDIT AGREEMENT 

							
		 		 	BANK OF THE WEST, as a Lender
				
		 		 	By:	 	 /s/ Dale Parshall

				
		 		 	Name:	 	 Dale Parshall

				
		 		 	Title:	 	 Vice President

			
		 		 	COMERICA BANK, as a Lender
				
		 		 	By:	 	 /s/ Brian T. Fitzgerald

				
		 		 	Name:	 	 Brian T. Fitzgerald

				
		 		 	Title:	 	 Vice President

			
		 		 	BRANCH BANKING AND TRUST COMPANY, as a Lender
				
		 		 	By:	 	 /s/ Robert M. Searson

				
		 		 	Name:	 	 Robert M. Searson

				
		 		 	Title:	 	 Senior Vice President

			
		 		 	CAPITAL ONE EQUIPMENT FINANCE CORP., as a Lender
				
		 		 	By	 	  

				
		 		 	Name:	 	  

				
		 		 	Title:	 	  

  
 GREENBRIER LEASING COMPANY
LLC 
 FIRST AMENDMENT TO CREDIT AGREEMENT 

							
		 		 	CREDIT INDUSTRIEL ET COMMERCIAL, NEW YORK BRANCH, as a Lender
				
	                    	 		 	By:	 	 /s/ Adrienne Molloy

				
		 		 	Name:	 	 Adrienne Molloy

				
		 		 	Title:	 	 Managing Director

				
		 		 	By:	 	 /s/ Marcus Edward

				
		 		 	Name:	 	 Marcus Edward

				
		 		 	Title:	 	 Managing Director

			
		 		 	COLUMBIA BANK, as a Lender
				
		 		 	By:	 	 /s/ Kevin N. Meabon

				
		 		 	Name:	 	 Kevin N. Meabon

				
		 		 	Title:	 	 Senior Vice President

			
		 		 	UMPQUA BANK, as a Lender
				
		 		 	By:	 	 /s/ Jeffrey Seiler

				
		 		 	Name:	 	 Jeffrey Seiler

				
		 		 	Title:	 	 Vice President

  
 GREENBRIER LEASING COMPANY
LLC 
 FIRST AMENDMENT TO CREDIT AGREEMENT 

 Exhibit 2.06 

FORM OF NOTICE OF LOAN PREPAYMENT 
  

			
	TO:	  	Bank of America, N.A., as Administrative Agent
		
	RE:	  	Credit Agreement dated as of March 20, 2014 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement;” the terms defined therein being used herein as
therein defined), among GREENBRIER LEASING COMPANY LLC, an Oregon limited liability company (the “Borrower”), the Lenders party thereto and Bank of America, N.A., in its capacity as administrative agent (in such capacity, the
“Administrative Agent”) for the lenders from time to time party to the Credit Agreement.
		
	DATE:	  	[Date]

 The Borrower hereby notifies the Administrative Agent that on
                     pursuant to the terms of Section 2.06 of the Credit Agreement, the Borrower intends to prepay the following Loans as
more specifically set forth below: 
  

	 	 ̈	Voluntary prepayment in the following amount(s): 

  

			
	 ̈	  	Eurocurrency Rate Loans: $            
		
		  	Applicable Interest Period:                    
		
	 ̈	  	Base Rate Loans: $            

 Delivery of an executed counterpart of a signature page of this notice by fax transmission or other electronic
mail transmission (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this notice. 
  

			
	GREENBRIER LEASING COMPANY LLC,
		
	By:	 	  

		
	Name:	 	  

		
	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}]]