Document:

Exhibit 106

		

			Exhibit 10.6

		

		
			INDEPENDENT CONTRACTOR AGREEMENT
		

		
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			This Independent Contractor Agreement (“Agreement”) is entered into as of this 5th day of January 2021, by and among Rogers Luecke Advisory, LLC (“Contractor”),  Terence R. Rogers (the “Interim CFO”) and FreightCar America, Inc. (“Company”).
		

		
			 
		

		
			WHEREAS the Company desires to retain Contractor as an independent contractor to provide the Company with the full-time attention and efforts of the Interim CFO to perform the Services (as defined below) and provide the Interim CFO, through Contractor, with pay commensurate with the performance of the Services; and 
		

		
			WHEREAS Interim CFO is an employee of Contractor and has experience performing the Services described herein.
		

		
			NOW, THEREFORE, in consideration of the promises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt, adequacy, and sufficiency of which are hereby acknowledged by each party hereto, the parties hereby agree as follows:
		

		
			1.    Engagement.  The Company hereby engages Contractor as an independent contractor to provide the full-time attention and efforts of the Interim CFO beginning on January 5, 2021 (the “Engagement Date”) and Contractor agrees to provide the full-time efforts and attention of the Interim CFO to perform the Services described herein.  This Agreement shall automatically terminate in four (4) months from the Engagement Date unless it is terminated earlier (i) by either the Company, on the one hand, or either of the Contractor or the Interim CFO, on the other hand, or (ii)  upon the conversion of the role of the Interim CFO to the full-time, direct role as Chief Financial Officer by mutual consent of the Company and the Interim CFO. 
		

		
			2.    Services of Contractor.  Contractor agrees that the Interim CFO shall perform the services as described in Exhibit A,  or other functionally similar services as requested by the Company during the Term (collectively, the “Services”).  Contractor agrees that the Interim CFO will devote at least 40 to 50 hours per week to performance of the Services. Contractor will provide all Services in compliance with industry standards, Company policies, and all applicable federal, state, and local laws.
		

		
			3.    Contractor’s Fee.  The Company shall pay to Contractor a monthly fee of $40,000.00 (prorated for partial months and as appropriate for any time off taken) in exchange for the Services performed by the Interim CFO.  In turn, Contractor will pay or otherwise transfer the monthly fee promptly to the Interim CFO upon receipt from the Company.  The fee will be paid by the 15th day of each month following the month in which the corresponding Services were rendered, and the Interim CFO will receive no other fee or payment for performance of the Services other than from the Contractor payment to him of such monthly fee.  
		

		
			4.    Terms and Conditions for Maximum Contractor’s Fee.   The Company agrees that if it terminates this Agreement without cause  prior to its initial four (4) month term (other than by converting the Interim CFO’s role to a permanent, direct role as CFO of the Company with the 
		

		 

 

		mutual consent of the Company and the Interim CFO), it will provide Contractor with a  payment equal to the amount of the difference between (i) the four (4) month maximum aggregate payment ($160,000.00)  and (ii) the aggregate monthly fees (including pro rata portions thereof) actually paid to Contractor at the date of such termination;  provided, however,  if Contractor or the Interim CFO terminates this Agreement  prior to the end of the engagement, Contractor  will only be paid, pro rata, for time worked prior to the date of such termination.  
		

		
			5.    Expense Reimbursement. During the Term of this Agreement, the Company will reimburse the Contractor for all business-related expenses incurred by the Interim CFO such as travel, lodging and meals, and Contractor will in turn pay over such reimbursements to the Interim CFO promptly after receipt from the Company. These expenses will be itemized on monthly invoices submitted.
		

		
			6.    Relationship of Parties.  In performing the Services, Contractor shall be an independent contractor and the Interim CFO shall continue to be an employee of Contractor and will not be an employee of the Company. Nothing in this Agreement shall be construed to constitute any party as the agent, employee, or joint venture partner of the other. Contractor acknowledges that the Services rendered under this Agreement by the Interim CFO are for a specified price for a specified result and that Contractor is under the control of the Company as to the result of the services only, and not as to the specific means by which such result is accomplished.  As such, Contractor acknowledges that it is an independent contractor under all applicable law and accepts the legal consequences of such status, and that at all times during the term of this Agreement, the interim CFO will continue to be an employee of Contractor only, and not of the Company, and accepts the legal consequences of such status.  Contractor acknowledges that these consequences include, but are not limited to, the following:
		

		
			(a)    [Reserved] 
		

		
			(b)    Contractor and the Interim CFO is excluded from the benefits of state workers compensation insurance and/or state unemployment benefits.
		

		
			(c)    The Company will not deduct from the monthly fees paid to Contractor any amount for (1) federal or state income tax withholding, or (2) the “employee's portion” under the Federal Insurance Contribution Act (FICA); nor is the Company required to make payments on Contractor's behalf for any federal and/or state tax withholding.  Contractor and the Interim CFO are responsible for any required tax or benefit-related payments attributable to or owing by Contractor or the interim CFO on account of the monthly fees paid to Contractor hereunder or the payment or other transfer of such amounts by Contractor to the Interim CFO.
		

		
			(d)    Contractor and the Interim CFO are excluded from coverage of state and federal labor laws that regulate the payment of wages, including but not limited to, minimum wage and overtime provisions promulgated by state agencies and/or the regulations promulgated by the Department of Labor pursuant to the Fair Labor Standards Act.
		

		
			(e)    Contractor and the Interim CFO are not eligible for any employment related benefits, including, without limitation, health and other insurance benefits, disability, retirement, bonus, equity participation, or any other employment related benefits. 
		

		

		

		 

		

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		(f)    Contractor and the Interim CFO are not entitled to any paid time off or vacation, and any time off will be subtracted from Contractor’s fees.
		

		
			7.    Confidential and Proprietary Information.  Contractor and the Interim CFO shall not disclose the Company’s Confidential Business Information (as defined herein) to third parties, except as reasonably necessary in the furtherance of his performance of the Services, or as otherwise approved by the Company.  The Company’s “Confidential Business Information” includes, without limitation, financial information, personnel information, strategic plans, marketing plans, information about past, current, or prospective clients, research and development, and any proprietary processes.
		

		
			8.    Defend Trade Secrets Act of 2016.  Notwithstanding any provision in this Agreement to the contrary, Contractor understands and acknowledges that, in accordance with the Defend Trade Secrets Act of 2016, the Interim CFO  will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (i) is made (A) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding.  Contractor and the Interim CFO each further understands and acknowledges that if the Interim CFO files a lawsuit about retaliation by the Company for reporting a suspected violation of law, he may disclose the Company’s trade secrets to his attorney and use the trade secret information in the court proceeding if he: (i) files any document containing the trade secret under seal; and (ii) does not disclose the trade secret, except pursuant to court order.
		

		
			9.    Non-Solicitation. In order to protect the Company’s Confidential Business Information, Contractor, and the Interim CFO each agrees that during the Term or for any period of time that Contractor is engaged with the Company and for a period of three (3) years after Contractor’s engagement ends, Contractor and the Interim CFO, or either of them, will not engage in the following activities without the Company’s express written permission:
		

		
			(a) directly or indirectly solicit, induce, hire, engage, or attempt to hire or engage any employee or independent contractor of the Company who was employed or engaged by the Company during the Term of this Agreement; or 
		

		
			(b) directly or indirectly contact, call upon or solicit, on behalf of any third party, any existing or prospective client or customer of the Company for the purposes of attempting to divert or take away from the Company the business of any such client or customer. 
		

		
			10.    Termination of Engagement.    Except in the case of a termination by the Company for cause either the Company or the Interim CFO may terminate this Agreement for any reason before the expiration of the Term and/or by mutual consent in the event of the conversion of the Interim CFO’s role to the full-time role of Chief Financial Officer (general terms of conversion outlined in Exhibit B). The compensation considerations are covered in Section 4. This Agreement may also be terminated for cause by the Company without prior notice.  
		

		
			11.    Indemnification/Insurance. Contractor will indemnify and hold the Company harmless from all claims, damages, judgments, penalties, fines, interest, costs, expenses, and 
		

		 

		

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		attorney’s fees that the Company incurs as a result of Contractor’s breach of this Agreement, negligent or intentional acts or omissions in the performance of the Services, or violations of federal, state, or local laws.  The Company agrees to obtain business insurance coverage to protect the Interim CFO to the substantially the same extent that it currently provides to cover the good faith acts or omissions of its current CFO and other executive officers; provided, if such insurance cannot be obtained or cannot be obtained on a financially practical basis, the Company will modify the Services such that the Interim CFO will not be called upon to certify its financial statements or its SEC reports.  
		

		
			    12.    Miscellaneous.
		

		
			        a.    Amendments.  This Agreement may not be amended, supplemented, canceled, or discharged, except by written instrument executed by all parties.
		

		
			        b.    Binding Effect; Assignment. This Agreement will be binding on the parties’ heirs and successors. The Company may assign its rights and obligations under this Agreement without the consent of Contractor or the Interim CFO provided that the Company will require any such purchaser, successor, or assignee to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such purchase, succession or assignment had taken place. Contractor's rights or obligations under this Agreement may not be assigned by Contractor.
		

		
			        c.    Applicable Law; Forum.  This Agreement shall be construed and enforced according to the laws of the State of Illinois. Any proceeding arising out of or relating to this Agreement shall be brought in the state courts or federal courts in the State of Illinois and the parties each hereby expressly submit to the personal jurisdiction and venue of such courts.  Contractor hereby expressly waives his right to a jury trial in any court proceeding arising out of or relating to this Agreement.
		

		
			        d.    No Presumption Created.  The parties acknowledge that they have independently negotiated the provisions of this Agreement, that they have had the opportunity to rely upon their own counsel as to matters of law and application, and that neither party has relied on the other party with regard to such matters. The parties expressly agree that there shall be no presumption created as a result of either party having prepared in whole or in part any provision of this Agreement.
		

		
			        e.    Counterparts.  This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original instrument, but all of which taken together shall constitute but one instrument.
		

		
			f.    Severability. The parties have carefully reviewed the provisions of this Agreement and agree that they are fair and equitable. The parties agree that if any one or more of the provisions of this Agreement shall be determined by a court of competent jurisdiction to be invalid, void, or unenforceable, the remainder of the provisions of this Agreement shall, to the extent permitted by law, remain in full force and effect and shall in no way be affected, impaired, or invalidated. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid and enforceable, then such court shall 
		

		 

		

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		have the authority under this Agreement to rewrite (or “blue pencil”) the restriction(s) at issue to achieve this intent, and such provision(s) shall be deemed to be written, construed, and enforced as so limited.
		

		
			g.    Injunctive Relief.  It is agreed that if Contractor violates the terms of Sections 7 or 9 of this Agreement, irreparable harm will occur, and money damages will be insufficient to compensate the Company. Therefore, the Company will be entitled to seek injunctive relief without posting bond (including, without limitation, temporary and permanent injunctions, a decree for specific performance, and an equitable accounting of earnings, profits, and other benefits arising from such violation), in any court having jurisdiction over such claim, to enforce the terms of this Agreement.  Any request for such injunctive relief by the Company shall be in addition to, and without prejudice to, any claim for monetary damages that the Company may elect to assert.
		

		
			h.    Entire Agreement.  This Agreement is the entire contract between the parties regarding the subject matter addressed herein and supersedes all prior contracts, whether written or verbal.
		

		
			i.    Survival.  Sections 7, 8, 9, 11, 12 of this Agreement will survive its termination.
		

		
			j.          Contractor Representations.  Contractor is a limited liability company validly existing and in good standing under the laws of its formation, and has full limited liability company power and authority to enter this Agreement and to perform its obligations hereunder.  The Interim CFO is an employee of Contractor.                       
		

		

		

		 

		

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			AGREED TO AND ACCEPTED:
		

		
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						/s/ Terence R. Rogers            

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						        

					
						 

					
						 

					
					
						 

					
						, CEO            

					
						 

					
						 

					
						 

					
						12/30/2020    __________________

					
						 

					
						 

				
	
					
						/s/ Terence R. Rogers

					
						Contractor’s Signature

					
					
						/s/ James R. Meyer, CEO

					
						Company Representative’s Signature 

				
	
					
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						Rogers Luecke Advisory, LLC

					
						Contractor’s Printed Name

					
					
						12/30/2020

					
						Date

				
	
					
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						/s/ Terence R. Rogers

					
						Interim CFO’s Signature

					
					
						 

				

		
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			Terence R. Rogers
		

		
			Interim CFO’s Printed Name
		

		
			12/30/2020
		

		
			Date 
		

		

		

		 

		

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			EXHIBIT A
		

		
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			Scope of the Role:
		

		
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			Interim CFO for a four (4) month engagement that can be onsite starting Jan 5, sooner virtually if possible, and have the following particulars:
		

		
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			    Transition with current Chief Financial Officer (“CFO”) through the end of January 2021 including all current responsibilities including Accounting, FP&A, Investor Relations, Treasury, Tax and Cash Management.  
		

		
			    Office is in downtown Chicago, currently closed due to COVID, but will be used for the some of the transition work.
		

		
			    Very talented, but relatively new Finance/Accounting team (e.g., Controller/CAO only 1 month with company).
		

		
			    Microcap public company that just completed a complex lending package with PIMCO- Still have a dozen post-closing items to complete - all of which should be done by the end of January.
		

		
			    Year-end closing must complete by end of January.
		

		
			    2021 budget must be completed by January 15th at the latest.
		

		
			    Largest factory (Shoals) in shutdown phase that must complete by the end of February, with a final inventory scheduled for mid-January.
		

		
			    New factory in Mexico (Castanos) up and running, but Oracle (MRP) implementation still in process - inventory flow from Shoals to Castanos complicated with workarounds by lack of cross border trade licenses which are still in various approval stages.
		

		
			    Controlling costs remains a top priority for this position and balance of Senior Staff.
		

		
			    Year-end earnings call in March must be scripted and will be the first profit reported in three (3)  years.
		

		

		

		 

		

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			EXHIBIT B
		

		
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			The following represents a general overview of the basic economic terms of employment in the event both parties agree that a conversion to permanent status is agreeable:
		

		
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			    Base Salary - $325,000/ year
		

		
			    Annual Cash Bonus Target Incentive of 50% of base salary with a range from 0-100%
		

		
			    Annual Equity Award approved by BOD and consistent with NEO peers
		

		
			    An Equity Award at the time of hire (one-time Sign on Award)
		

		
			    All basic benefits offered to other full-time employees including 4-weeks’ vacation
		

		
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			The above reflects an understanding between both parties but is not binding.
		

		
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			8Exhibit 107

			

					

						 

					

					

						 

					

					

						 

				
	

					

						 

					

					

						 

					

					

						Exhibit 10.7

				
	

					

						 

					

					

						 

					

					

						

				

		

			 

		

		
			February 11, 2021
		

		
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			Mr. Terence R. Rogers
		

		
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			Email Delivery: trogers@freightcar.net
		

		
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			Re:  Offer Letter 
		

		
			Dear Terry:
		

		
			We are extremely pleased to offer you the position of Chief Financial Officer and Corporate Secretary at FreightCar America, Inc. The role will be based at our Corporate Headquarters in Chicago and will include duties and responsibilities customarily performed and held by persons holding equivalent positions in public companies that are of similar industries and size. In this position you will be reporting directly to me and be a part of the Senior Management Team.
		

		
			This letter ("letter") sets forth the terms of your employment. If accepted, your date of employment will be effective on February 15, 2021, or another date acceptable to both of us. 
		

		
			This letter and your employment is for no specific term. Your employment may be terminated at any time for any reason (or no reason), subject to the terms of this letter below, by the Company or you upon notice to the Company.
		

		
			1.    Salary.  Your annual base salary will be  $350,000 (“Salary”) and paid in accordance with payroll practices applicable to all salaried employees in Illinois.  Your base salary will be reviewed by the Company annually.
		

		
			2.    Incentive. You will be entitled to participate in the  company's annual cash incentive plan as approved by the Board of Directors (the “Annual Incentive Plan” or "AIP") and are eligible to earn a cash award for each fiscal year in accordance with the terms of this plan and provided that approved performance criteria are achieved.  The measurement period for the AIP runs concurrent with the Company's fiscal calendar which concludes on December 31st of each year.  Your annual target award will be 50% of base salary with a maximum equal to 200% of the target (100% total), and a threshold of 20%.  Given that you started with the Company in early January under a contracting arrangement, your target opportunity for 2021 will not be pro-rated based on the start date of your employment. In consideration for your employment and eligibility to participate in the AIP, you will be required to agree to and comply with the restrictive covenants set forth below in Section 7. Any payout under this plan is approved at the sole discretion of the Compensation Committee of the Board or the Board and subject to change.
		

		
			3.    Long-Term Incentive (“LTI”) and Other Executive Compensation Plans. You will be eligible to participate in all of the Company’s equity-based and cash-based long-term incentive and other executive compensation plans on a basis no less favorable than the other similarly situated executives. Your target LTI is 70% of your base salary of which 50% are Restricted Shares and 50% are Stock Options. The restricted shares have a three (3) year cliff vest and the stock options vest 1/3 per year for three consecutive years. The term of 
		

		 

		

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		stock options is ten (10) years as per the 2018 Long Term Incentive Plan. Any award under this plan  is approved at the sole discretion of the Compensation Committee of the Board or the Board and subject to change. You will be eligible to participate in this plan with the next annual grant, scheduled for January 2022.
		

		
			4.    Sign On Award.  Upon the effective date of this Agreement, you will be granted: (a) 50,000 restricted shares of Company stock under the Company’s 2018 Long Term Incentive Plan, which shares will vest on the third anniversary date of the Grant Date as defined in the Restricted Share Award Agreement (EXHIBIT A); and (b) 300,000 stock options under the Company’s 2018 Long Term Incentive Plan which vest over a 1/3 per year for three (3) consecutive years and are available to exercise over a ten (10) year period as defined in the Stock Option Agreement (EXHIBIT B). You acknowledge and agree that these Awards are being offered as additional consideration in return for your agreement to the covenants set forth in the Section 7.  
		

		
			5.    Termination.    Upon a termination of your employment for any reason, you will be entitled to (i) your accrued Salary and accrued and unused vacation through the date of termination, (ii) your prior fiscal year bonus, to the extent earned and unpaid, and (iii) any accrued and vested benefits and unreimbursed expenses incurred and unpaid on the date of termination.  Upon your written acknowledgement and acceptance of the terms and conditions of the Executive Severance Plan, you will participate in and be entitled to benefits under the Executive Severance Plan as then in effect, except in the following respects:
		

		
			(a)    In the event of (i) your termination by the Company without “Cause” (as defined in the Executive Severance Plan) within twelve (12) months following the consummation of a “Change in Control” or (ii) your resignation for “Good Reason” (as defined below), modifications will apply as follows:  Article 3.3(b), (x) base salary will continue for twelve (12) months following the date of termination; (y) you will be entitled to two equal payments to be made based on the calculation as described in Article 3.3(c), with the first payment being made on the first March 15 following the year of termination and the second payment being made on the second March 15 following the year of termination; and (z) Article 3.3(d), participation in the Company’s group health plan will continue for twelve (12) months.  A copy of the Executive Severance Plan as currently in effect is attached as EXHIBIT C to this Letter.
		

		
			(b)    With respect to the definition of “Good Reason” both parties hereto agree that such term shall be defined as provided the Executive Severance Plan, except that clause (iii) of Article 2.16(b) is hereby deleted and replaced with the following: “requires the Executive to relocate to a location that is more than 50 miles from the Company’s principal business office located in the Chicago, Illinois metropolitan area.” This modified definition of Good Reason shall apply with respect to any and all compensation agreements or arrangements between yourself and the Company that reference or rely on the definition provided in the Executive Severance Plan and/or this Letter.
		

		
			6.    Group Insurance, Retirement Benefits and Vacation.  You will also be eligible to participate in all Company benefit plans, as outlined in the 2021 Salaried Employee Benefit Summary. Specifically, it covers all group insurance and retirement plans such as medical, dental, life, accidental death and dismemberment, short term and long- term disability and vision. The retirement plan provides for a 4% company match, which is currently suspended but approved for reinstatement on April 1, which is fully vested after one year of employment. In addition, you remain eligible for ten (10) company paid holidays and four (4) weeks of vacation, prorated based on the date of your acceptance. 
		

		
			7.    Restrictive Covenants
		

		
			(a)     Covenant Not to Compete.  You agree that, during employment with the Company and for a period of twelve (12) months after termination, you shall not, without the prior written consent of the Company, accept employment with, join or become affiliated with any business entity anywhere in North 
		

		 

		

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		America that is engaged in direct competition with any business of the Company on the date of your employment termination for which you worked or had responsibility during your employment.
		

		
			 (b)     Covenant Not to Solicit Customers.  You agree that, during employment with the Company and for a period of twelve (12) months after termination of employment with the Company, you shall not, without the prior written consent of the Company, directly or indirectly solicit any current customer or prospective customer of the Company or any of its subsidiaries, with which you contact or knowledge of Confidential Information regarding during the last twelve (12) months of your employment.  
		

		
			(c)     Covenant Not to Solicit Employees.  You agree that, during employment with the Company and for a period of twenty-four (24) months after termination of employment with the Company, you shall not, without the prior written consent of the Company, directly or indirectly solicit any current employee of the Company or any of its subsidiaries, or any individual who becomes an employee on or before the date of your termination of employment from the Company, to leave such employment.
		

		
			(d)     Covenant Not to Disclose or Use of Confidential Information.  You recognize that you will have access to confidential information, trade secrets, proprietary methods and other data which are the property of and integral to the operations and success of the Company ("Confidential Information") and therefore agrees to be bound by the provisions of this Section, which both the Company and you agree and acknowledge to be reasonable and to be necessary to the Company. In recognition of this fact, you agree that you will not disclose any Confidential Information (except (i) information which becomes publicly available without violation of this Agreement, (ii) information which you did not know and should not have known was disclosed to you in violation of any other person's confidentiality obligation and (iii) disclosure required in connection with any legal process (after giving the Company the opportunity to dispute such requirement)) to any person, firm, corporation, association or other entity, for any reason or purpose whatsoever, nor shall you make use of any such information for the benefit of any person, firm, corporation or other entity except the Company. Your obligation to keep all such information confidential shall be in effect during and for a period of twenty-four (24) months after the termination of your employment with the Company; provided, however, that you will keep confidential and will not disclose any trade secret or similar information protected under law as intangible property (subject to the same exceptions set forth in the parenthetical clause above) for so long as such protection under law is extended.
		

		
			(e)    Forfeiture of Bonus. In the event that you breach any of the covenants contained in this Section, in addition to any other penalties or remedies provided under this Letter or that may apply under any agreement or law, you agree to forfeit and repay the most recent Bonus payment made to you under the Bonus Plan.  Repayment must be reimbursed within 60 days of the Company notifying you of the breach.  You acknowledge that the Company shall have the right to recapture and seek repayment of any such Bonus payment made under this Letter.  If you do not make the required payment and the Company is required to institute a cause of action to obtain the payment, you agree that the Company will be entitled to an award of its costs of litigation, including reasonable attorneys’ fees, and you further agree to reimburse the Company for all such costs and attorneys’ fees. 
		

		
			(f)    Intellectual Property. "Inventions" includes all improvements, inventions, designs, formulas, works of authorship, trade secrets, technology, computer programs, compositions, ideas, processes, techniques, know-how and data, whether or not patentable, made or conceived or reduced to practice or developed by you, either alone or jointly with others, during the term of your employment, including during any period prior to the date of this letter. Except as defined in this letter all Inventions that you make, conceive, reduce to practice or develop (in whole or in part, either alone or jointly with others) during your employment will be the sole property of the Company to the maximum extent permitted by law. You agree to assign such Inventions and all Rights in them to the Company. Exemptions from this 
		

		 

		

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		agreement to assign may be authorized in those circumstances where the mission of the Company is better served by such action, provided that overriding obligations to other parties are met and such exemptions are not inconsistent with other Company policies. Further, you may petition the Company for license to make, market or sell an Invention.
		

		
			(g)    Remedies.    You acknowledge that monetary damages will not be an adequate remedy for the Company in the event of a breach of this Section, and that it would be impossible for the Company to measure damages in the event of such a breach. Therefore, you agree that, in addition to other rights and remedies that the Company may have, the Company is entitled to injunctive and other equitable relief preventing you from any breach or threatened breach of this Section, and you hereby waive any requirement that the Company post any bond in connection with any such injunction. You further agree that injunctive relief is reasonable and necessary to protect a legitimate, protectible interest of the Company.  You acknowledge that in the event the Company is required to institute a cause of action to enforce any provision of this Letter, in addition to any injunctive or other relief awarded by the court, the Company will be entitled to an award of its costs of litigation, including reasonable attorneys’ fees. In addition to any other penalties or restrictions that may apply under any employment agreement, state law, or otherwise, you will also forfeit all of the equity grated under this Agreement, including Restricted Shares or Stock Options that have fully vested, and if you previously sold any of such vested equity, the Company shall also have the right to recover from you the economic value of such equity as of the date that they vested. 
		

		
			(h)    Blue Pencil. If any court determines that the covenants contained in this Section, or any part hereof, are unenforceable because of the duration or geographic scope of such provision, such court shall have the power to reduce the duration or scope of such provision, as the case may be, to as close to the terms hereof as shall be enforceable and, in its reduced form, such provision shall then be enforceable.
		

		
			(i)    Survival. The restrictive covenants contained in this Section shall survive the termination of your employment.
		

		
			8.    Section 409A. Anything in this Agreement to the contrary notwithstanding, if any payment(s) or benefit(s) under this Agreement would be subject to the provisions of Section 409A of the Internal Revenue Code of 1986 (the "Code") at the time they become payable or benefits due you, to the extent required to comply with Section 409A of the Code any such payments or benefits will be delayed for six (6) months or such other earliest day on which such payments could be made or benefits provided in compliance with Section 409A of the Code and the regulations thereunder (at which point all payments so delayed will be provided or reimbursed to you in one lump sum, without interest, within two and one half months after the date they then become so payable or due to you).
		

		
			9.    Miscellaneous.
		

		
			(a)    Entire Agreement. Except as otherwise contemplated herein, this letter contains the entire agreement between you and the Company with respect to the subject matter hereof. No amendment, modification or termination of this letter may be made orally but must be made in writing and signed by you and the Company.
		

		
			(b)    Successors; Assignment. Neither party hereto may assign any rights or delegate any duties under this letter without the prior written consent of the other party; provided, however, that (a) this letter will inure to the benefit of and be binding upon the successors and assigns of the Company upon any sale of all or substantially all of the Company's stock and/or assets, or upon any merger, consolidation or reorganization of the Company with or into any other corporation, all as though such successors and assigns of the Company and their respective successors and assigns were the Company; and (b) this letter 
		

		 

		

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		will inure to the benefit of and be binding upon your heirs, assigns or designees to the extent of any payments due to them hereunder.
		

		
			(c)    Governing Law and Jurisdiction. This letter will be governed by and construed in accordance with the law of the State of Illinis and not its choice of law rules, applicable to contracts made and to be performed entirely within that State.  You agree that the jurisdiction and venue for any disputes arising under, or any action brought to enforce, or otherwise relating to, this Letter shall be exclusively in the courts in the State of Illinois,  Cook County including the Federal Courts located therein (should Federal jurisdiction exist), and you hereby submit and consent to said jurisdiction and venue.
		

		
			(d)    No Set-off or Mitigation. Your rights to payments under this letter will not be affected by any set off, counterclaim, recoupment or other right the Company may have against you or anyone else.  You do not need to seek other employment or take any other action to mitigate any amounts owed to you under this letter, and those amounts will not be reduced if you do obtain other employment.
		

		
			(e)    Notices. All notices, requests, demands and other communications under this letter must be in writing and will be deemed given (i) when hand delivered, (ii) on the first business day after the business day sent from within the United States, if delivered by a nationally recognized overnight courier or (iii) on the third business day after the business day sent if delivered by registered or certified mail, return receipt requested, in each case to the following address (or to such other address as may be specified by notice that conforms to this section:
		

		
			 The Company, to:
		

		
			    FreightCar America, Inc.
		

		
			    125 South Wacker Drive 
		

		
			    Suite 1500
		

		
			    Chicago, Illinois 60606
		

		
			    Attention: General Counsel
		

		
			﻿
		

		
			If to you, to your last address shown on the payroll records of the Company.
		

		
			(f)    Counterparts. This letter may be executed in counterparts, each of which will constitute an original and all of which, taken together, will constitute one and the same instrument.
		

		

		

		 

		

			5

		

		

			 

		

 

		
		

		
			Terry,  on behalf of FreightCar America, we are very excited by the prospect of you joining our company. I look forward to answering any questions you may have. 
		

		
			﻿
		

		
			Sincerely,
		

		
			﻿
		

		
			FreightCar America, Inc.
		

		
			﻿
		

			
					
						﻿

					
					
						 

					
					
						 

				
	
					
						By:    /s/ James R. Meyer

					
					
						 

					
					
						2/11/2021 

				
	
					
						James R. Meyer

					
					
						 

					
					
						Date

				

		
			I have read, understand, and agree to the terms of this letter. 
		

		
			 
		

			
					
						/s/ Terence R. Rogers

					
					
						 

					
					
						2/11/2021 

				
	
					
						Employee (signature)

					
					
						 

					
					
						Date

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						Terence R. Rogers

					
					
						 

					
					
						 

				
	
					
						Employee (printed name)

					
					
						 

					
					
						 

				

		
			﻿
		

		 

		

			6

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