Document:

EX-4.2

 Exhibit 4.2 

EXECUTION VERSION 
 BURLINGTON
NORTHERN SANTA FE, LLC 
 Certificate of Determination 

Dated as of April 6, 2021 

The undersigned, Beth A. Miller, Treasurer, and Julie A. Piggott, Executive Vice President and Chief Financial Officer, each of Burlington
Northern Santa Fe, LLC (successor-in-interest to Burlington Northern Santa Fe Corporation), a Delaware limited liability company (the “Company”), do hereby
certify that pursuant to the authority granted in the resolutions (collectively, the “Resolutions”) of the Board of Managers of the Company adopted on May 6, 2019 and pursuant to Sections 201, 301 and 303 of the Indenture, dated
as of December 1, 1995, between the Company and The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A.), as
successor-in-interest to J.P. Morgan Trust Company, National Association, as
successor-in-interest to Bank One Trust Company, N.A., as successor-in-interest to The
First National Bank of Chicago, as Trustee (the “Trustee”), as supplemented by the Fifth Supplemental Indenture, dated as of February 11, 2010, among Burlington Northern Santa Fe Corporation, R Acquisition Company, LLC and the
Trustee, and further supplemented by the Twenty-Fourth Supplemental Indenture, dated as of April 6, 2021 (the “Twenty-Fourth Supplemental Indenture”), between the Company and the Trustee (together with the Twenty-Fourth Supplemental
Indenture, the “Indenture”), there was established as of April 6, 2021 one series of securities under the Indenture with the following terms: 
  

	 	1.	 The securities of the series are entitled “3.300% Debentures due September 15, 2051” (the
“Debentures”). 

  

	 	2.	 The Debentures are initially being offered in the aggregate principal amount of $925,000,000 (except for
Debentures authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Debentures pursuant to Section 304, 305, 306, 906 or 1107 of the Indenture and any Debentures which pursuant to Section 303
are deemed never to have been authenticated and delivered thereunder). The Company may, without the consent of the Holders of the Debentures of a series, issue additional Debentures of such series and thereby increase such principal amount, on the
same terms and conditions and with the same CUSIP number as the Debentures of such series. 

  

	 	3.	 The principal amount of the Debentures will mature on September 15, 2051, subject to the provisions of the
Indenture relating to acceleration. 

  

	 	4.	 The Debentures will bear interest from April 6, 2021 or from the most recent Interest Payment Date (as
defined below) to which interest has been paid or provided for, at the rate of 3.300% per annum, payable semi-annually in arrears on March 15 and September 15 of each year (each, an “Interest Payment Date”), commencing
September 15, 2021 to the persons in whose names the Debentures are registered on the close of business on the immediately preceding March 1 and September 1, respectively, whether or not such day is a Business Day (each, a
“Regular Record Date”). 

	 	5.	 Subject to paragraph 11 below, the principal of and premium (if any) and interest on the Debentures will be
payable at the office or agency of the Company maintained for that purpose, pursuant to the Indenture, in The City of New York, which shall be initially the corporate trust office of the Trustee; provided, however, that at the option
of the Company, such payment of interest may be made by check mailed to the person entitled thereto as provided in the Indenture. 

  

	 	6.	 The Debentures will be redeemable as a whole or in part at the option of the Company, at any time, as set forth
in the Twenty-Fourth Supplemental Indenture. 

  

	 	7.	 Holders of the Debentures shall have the right to require the Company to repurchase all or any part (in
integral multiples of $1,000) of such holder’s Debentures upon the occurrence of a Change of Control Repurchase Event (as defined in the Twenty-Fourth Supplemental Indenture), as set forth in the Twenty-Fourth Supplemental Indenture.

  

	 	8.	 The Debentures shall not be entitled to the benefit of any sinking fund, nor shall the Debentures be repayable
at the option of the registered Holders thereof. 

  

	 	9.	 Subject to paragraph 11 below, the Debentures shall be issued in denominations of $2,000 and integral multiples
of $1,000 in excess thereof. 

  

	 	10.	 Each Holder by its acceptance of a Debenture shall be deemed to have consented to the elimination of the
Replacement Capital Covenant (“Replacement Capital Covenant”), dated as of December 15, 2005, by the Company in favor of and for the benefit of each Covered Debtholder (as defined therein) and all obligations of the Company pursuant
to the Replacement Capital Covenant. This consent shall be deemed to have been made on the date of issuance of the Debentures and on each day that the Debentures remain outstanding, although the elimination of the Replacement Capital Covenant will
become operative only if the Debentures are designated to be the Covered Debt (as defined in the Replacement Capital Covenant) for purposes of the Replacement Capital Covenant. The Trustee is authorized to take any action requested by the Company to
evidence such consent without further notice to or approval of the Holders of the Debentures. 

	 	11.	 Upon issuance, the Debentures will be represented by one or more Global Securities deposited with, or on behalf
of, The Depository Trust Company (the “Depositary”). Settlement for the Debentures will be made by the Underwriters (as hereinafter defined) in immediately available funds. All payments of principal and interest shall be made by the
Company in immediately available funds as long as the Debentures are represented by Global Securities. As long as the Debentures are represented by Global Securities registered in the name of the Depositary or its nominee, the Debentures will trade
in the Depositary’s Same-Day Funds Settlement System, and secondary market trading activity in the Debentures will therefore settle in immediately available funds. Except as set forth in the Indenture or
in the Prospectus Supplement relating to the Debentures, the Debentures will not be issuable in definitive form. 

Furthermore, we hereby (i) approve the forms of and authorize the execution and delivery of the Debentures (copies of which are attached
as Exhibit A-1 and Exhibit A-2), and the Underwriting Agreement, dated March 29, 2021, among the Company and
BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as representatives of the several underwriters listed therein (a copy of which is attached as
Exhibit B), and (ii) ratify the execution and delivery of the Twenty-Fourth Supplemental Indenture (a copy of which is attached as Exhibit C). 

All capitalized terms used herein and not otherwise defined shall have the meanings given such terms in the Indenture. 

[Remainder of page intentionally left blank. Signature page follows.] 

 IN WITNESS WHEREOF, we have set our hands as of the date above first written. 

 

			
	 By
	 	/s/ Beth A. Miller
		 	 Name:   Beth A. Miller

Title:     Treasurer

  

			
	 By
	 	/s/ Julie A. Piggott
		 	 Name:   Julie A. Piggott
 Title:
    Executive Vice President and Chief
               Financial
Officer

 [Signature Page to Officers’ Certificate to the Trustee (Certificate of Determination)]gbx-ex102_94.htm

Exhibit 10.2

THE GREENBRIER COMPANIES, INC.

STOCK INCENTIVE GRANT PROGRAM FOR NON-EMPLOYEE DIRECTORS UNDER THE 2021 STOCK INCENTIVE PLAN

The following provisions set forth the terms of the Stock Incentive Grant Program (the "Program") for non-employee directors of The Greenbrier Companies, Inc. (the "Company") under the Company's 2021 Stock Incentive Plan (the "Plan").  In the event of any inconsistency between the terms contained in the Program and in the Plan, the Plan shall govern.  All capitalized terms that are not defined in the Program have the meanings set forth in the Plan.  

Section 1.Eligibility.  Each member of the Board elected to the Board who is not otherwise an employee or officer of the Company or any Related Company (an "Eligible Director") shall be eligible to receive Awards as set forth in the Program, subject to the terms of the Program. 

Section 2.Stock Incentive Grants

2.1Initial Awards.  Upon an Eligible Director's initial election to the Board as an Eligible Director, the Eligible Director shall automatically receive an award of Restricted Stock Units (the "Initial Award").  The Grant Date for an Initial Award to an Eligible Director is the date of that director’s first election to the Board.  If such initial election occurs at an annual meeting of shareholders, the Initial Award shall be for a number of shares of Common Stock calculated by dividing $145,000 by the average closing price for the 30 trading days immediately preceding the Grant Date and rounding up to the nearest whole share.  If such initial election occurs on another date, the Initial Award shall be for a number of shares of Common Stock calculated by dividing $145,000 by the average closing price for the 30 trading days immediately preceding the Grant Date and multiplying the resulting quotient by a fraction, the numerator of which is the difference obtained by subtracting from twelve the number of whole calendar months that elapse from the date such person first becomes an Eligible Director through the date of the first Annual Award (as defined below) immediately following the date he or she first becomes an Eligible Director and the denominator of which is twelve, and rounding up to the nearest whole share.  A director who is also an employee of the Company or a Related Company but who subsequently ceases such employment status but remains a director shall not be eligible for an Initial Award.  

2.2Annual Awards.  Immediately following each annual meeting of shareholders, each Eligible Director shall automatically receive an award of Restricted Stock Units for a number of shares of Common Stock calculated by dividing $145,000 by the average closing price for the 30 trading days immediately preceding the Grant Date and rounding up to the nearest whole share (the "Annual Award").  The Grant Date of an Annual Award will be the date of such annual meeting.

2.3Vesting and Payment.  Each Initial Award and Annual Award shall vest and become payable with respect to 100% of the shares of Common Stock subject to such Award on the earlier of (a) the one-year anniversary of the Grant Date and (b) the next annual meeting of shareholders that occurs prior to such one-year anniversary, but at least 50 weeks after the prior year’s annual meeting of shareholders.  One share of Common Stock will be issuable for each 

1

 

Exhibit 10.2

Restricted Stock Unit that vests and becomes payable.  As soon as practicable after vesting of an Award, the Company will settle the vested Restricted Stock Units by issuing to the Eligible Director one share of Common Stock for each vested Restricted Stock Unit.  The Company will issue the shares of Common Stock by registering the shares of Common Stock in book entry form with the Company's transfer agent in the name of the Eligible Director and any applicable restrictions will be noted in the records of the Company's transfer agent and in the book entry system.  

2.4Termination of Service.  In the event of an Eligible Director’s Termination of Service due to death, Disability or Retirement, or because such Eligible Director is not nominated or re-elected to serve an additional term as a director, any unvested portion of the Eligible Director’s Initial Award or Annual Award will become fully vested and no longer subject to forfeiture effective immediately prior to such Termination of Service.  In the event of an Eligible Director’s Termination of Service due to such Eligible Director’s removal or resignation, any unvested portion of the Eligible Director’s Initial Award or Annual Award will automatically be forfeited.

2.5Dividend Equivalent Rights.  In the event that the Company pays an ordinary cash dividend on its Common Stock and the dividend record date occurs before all of the Restricted Stock Units subject to an Award held by an Eligible Director have either been settled or terminated, the Company will credit the Award with a dollar amount equal to (a) the per share cash dividend paid by the Company on its Common Stock on the dividend payment date, multiplied by (b) the total number of outstanding and unsettled Restricted Stock Units subject to the Award (including unvested Units) as of the dividend record date (the "Dividend Equivalent Rights").  Any Dividend Equivalent Rights credited shall be subject to the same vesting, payment and other terms, conditions and restrictions as the Restricted Stock Units to which they relate.  The Dividend Equivalent Rights will be paid in the form of shares of the Common Stock calculated by dividing (a) the amount of the Dividend Equivalent Rights, without interest, by (b) the Fair Market Value of the Common Stock on the dividend payment date (rounded down to the nearest whole number of shares).

Section 3.Amendment, Suspension or Termination of Program.  The Board may amend, suspend or terminate the Program or any portion of it at any time and in such respects as it deems advisable.  Except as provided in the Plan, any such amendment, suspension or termination shall not, without the consent of the Participant, impair or diminish any rights of a Participant under an outstanding Award.

Section 4.Effective Date.  The Program shall become effective on the Effective Date of the Plan and, unless sooner terminated by the Board, shall remain effective during the term of the Plan.

Section 5.Change of Control. Upon a Change in Control, all Awards outstanding and held by an Eligible Director as of the date of the Change of Control, and which are not then vested or no longer subject to forfeiture, will immediately become fully vested and no longer subject to forfeiture.

2

 

Exhibit 10.2

Section 6.General.  Provisions of the Plan that are not discussed above, to the extent applicable to Eligible Directors, shall continue to govern the terms and conditions of Awards granted to Eligible Directors.

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}]]