Document:

EX-10.14

 Exhibit 10.14 

AMENDED AND RESTATED SCHOOL BUS HOLDINGS INC. PHANTOM AWARD PLAN 

1. Purpose. The purpose of the School Bus Holdings Inc. Phantom Award Plan is to motivate and retain certain individuals who are
responsible for the attainment of the primary long term performance goals of the Company and its Affiliates. 
 2. Definitions. When
used herein, the following terms shall have the following meanings. 
 “Administrator” means the Board, or a committee or
other designee of the Board, duly appointed to administer the Plan. 
 “Affiliate” means any Person that controls, is
controlled by, or is under common control with such Person. As used herein, the term “control” (including the terms “controlling,” “controlled by” and “under common control with”) means the possession,
directly or indirectly, of the power to direct or to cause the direction of the management and policies of a Person, whether through ownership of voting securities or other interests, by contract or otherwise. 

“Award Percentage” means, with respect to a Phantom Award, the percentage of the Distributions that the Participant is
entitled to receive. 
 “Board” means the Board of Directors of the Company. 

“Capital Contributions” means capital contributions made by the Investor Holders following the Effective Date. 

“Cause” means, as determined by the Board or its designee, (i) conviction of or plea of nolo contendere to a felony by
Participant; (ii) acts of dishonesty by Participant resulting or intending to result in personal gain or enrichment at the expense of the Company or any of its Subsidiaries; (iii) conduct by Participant in connection with his duties that
is fraudulent, unlawful or grossly negligent, including, but not limited to, acts of discrimination; (iv) engaging in personal conduct by Participant (including but not limited to employee harassment or discrimination, the use or possession at
work of any illegal controlled substance) which seriously discredits or damages the Company or any of its Subsidiaries; (v) contravention of specific lawful direction from the Board or continuing inattention to or continuing failure to
adequately perform the duties to be performed by Participant or; (vi) breach of any restrictive covenants that participate is subject to; provided, that, in the event that the Participant is subject to an any Employment Agreement
with the Company or any of its Subsidiaries that contains a definition of “cause,” “Cause” under this Plan shall have the meaning set forth in such Employment Agreement. 

“Change in Control” shall mean (i) if any Person (other than an Investor Holder) becomes the beneficial owner, directly
or indirectly, of more than 50% of the combined voting power of the then issued and outstanding securities of the Company (or either of its successors) or the Investor Holders no longer have the right by ownership or agreement to designate a
majority of the Board; provided, that any underwriter or Person performing that role who 

 
becomes the beneficial owner of securities of the Company in connection with a public offering shall not constitute a Person described in this clause (i), or (ii) the sale, transfer or other
disposition of all or substantially all of the business and assets of the Company (or either of its successors), whether by sale of assets, merger or otherwise (determined on a consolidated basis) to another Person other than a transaction in which
the survivor or transferee is a Person controlling, controlled by, or under common control with, directly or indirectly, the Investor Holders. 

“Code” means the Internal Revenue Code of 1986, as amended, or any successor statute thereto. 

“Company” means School Bus Holdings Inc. 

“Creditable Distributions” means (x) a Participant’s Award Percentage multiplied by (y) the Distributions. 

“Disability” means a determination by the Company in accordance with applicable law and the Company’s disability
policies, that as a result of a physical or mental injury or illness, the Participant is unable to perform the essential functions of his or her job with or without reasonable accommodation for a period of (i) 90 consecutive days, or (ii) 180 days
in any one (1) year period. 
 “Distributions” means, unless otherwise defined in a Phantom Award Agreement, distributions
made to the Investor Holders on their Initial Investment in the Company after the Investor Holders have received the return of (x) their Initial Investment and (y) any Capital Contributions plus an annually compounded return of fifteen percent (15%)
on any such Capital Contributions. 
 “Effective Date” means the date set forth in Section 17 hereof. 

“Employment Agreement” means an agreement between a Participant and the Company or a Subsidiary of the Company which sets
forth the terms and conditions to employment of the Participant by the Company or a Subsidiary of the Company. 
 “Fair Market
Value” means the fair market value of the Phantom Awards as determined in good faith by the Board or its designee. 

“Grant Date” means the date on which a Phantom Award under the Plan is granted to a Participant. 

“Initial Investment” means Forty Million Dollars ($40,000,000). 

“Investor Holders” means, collectively, Bus America Holding BV, Homerica Investment BV, Cerberus International, Ltd.,
Cerberus Partners L.P., Cerberus Institutional Series Three Holdings LLC, Cerberus Institutional America 2, and any other Affiliate under the control of Cerberus Capital Management, L.P. or Homerica Investment BV, and any subsequent transferee or
purchaser of any capital stock or other form of equity interests in any such entity. 

  
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 “Participant” means any employee, director, officer or any consultant of the
Company or any Subsidiary of the Company who is selected to participate in the Plan in accordance with Section 4 hereof. 

“Person” means any individual, partnership, firm, trust, corporation, limited liability company or other similar entity. When
two or more Persons act as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of shares or similar equity interests of the Company, such partnership, limited partnership, syndicate or
group shall be deemed a “Person.” 
 “Phantom Award” means a right to receive an Award Percentage of the
Distributions. 
 “Phantom Award Agreement” means the agreement between the Company and each Participant setting forth the
terms and conditions applicable to a Phantom Award. 
 “Plan” means this Amended and Restated School Bus Holdings Inc.
Phantom Award Plan. 
 “Subsidiary” means, with respect to any Person, any corporations, partnerships, business trusts,
joint stock companies, associations, limited liability companies or other business entities of which (a) if a corporation, a majority of the total voting power of stock entitled (without regard to the occurrence of any contingency) to vote in the
election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (b) if a partnership, limited
liability company, business trust, joint stock company, association or other business entity other than a corporation, a majority of the partnership, membership or other similar ownership interests thereof is at the time owned or controlled,
directly or indirectly, by that Person or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a partnership, limited liability company,
business trust, joint stock company, association or other business entity other than a corporation if such Person or Persons shall be allocated a majority of the partnership, association or other business entity gains or losses or shall be or
control the managing director, manager, a general partner or the trustee of such partnership, limited liability company, business trust, joint stock company, association or other business entity. 

“Unvested Distributions” shall mean Creditable Distributions with respect to Unvested Phantom Awards. 

“Unvested Phantom Awards” shall mean any Phantom Awards that are not Vested Phantom Awards. 

“Vested Distributions” shall mean Creditable Distributions with respect to Vested Phantom Awards. 

“Vested Phantom Awards” means any Phantom Award that have vested pursuant to a Phantom Award Agreement. 

  
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 3. Administration. The Plan shall be administered by the Administrator. Subject to the
provisions of the Plan, the Administrator shall have the authority to: 
 (a) select the Participants; 

(b) determine the Award Percentage covered by any Phantom Award; and 

(c) establish from time to time regulations for the administration of the Plan, interpret the Plan, delegate in writing administrative matters
to committees of the Board or to other persons, and make such other determinations and take such other action as it deems necessary or advisable for the administration of the Plan. 

All decisions, actions and interpretations of the Administrator shall be final, conclusive and binding upon all parties. With respect to
Phantom Awards granted to a Participant who is a nonemployee director, the Plan shall be administered by the full Board and any references to the Administrator shall be deemed to be references to the Board. 

4. Participation. Participants in the Plan shall be limited to those employees, directors and consultants of the Company or any of its
Subsidiaries who have been notified in writing by the Administrator that they have been selected to participate in the Plan. 
 5.
Phantom Awards Subject to the Plan. 
 (a) The maximum aggregate Award Percentage attributable to the Phantom Awards available under
the Plan shall not exceed fifteen percent (15%). 
 (b) If any Phantom Award granted under the Plan shall be canceled, shall expire, or
shall be repurchased, new Phantom Awards may thereafter be granted or purchased covering such Award Percentage. 
 6. Terms and
Conditions of Phantom Awards. 
 (a) Grant of Phantom Awards. The Administrator may grant to a Participant the Award Percentage
set forth in the Phantom Award Agreement. In connection with such grant, the Participant may be required to purchase the Phantom Award at a price set forth in the Phantom Award Agreement for such Participant. 

(b) Vesting. Phantom Awards granted under the Plan shall vest at such time and upon such terms and conditions as may be determined by
the Administrator, as set forth in a Phantom Award Agreement. 
 (c) Transferability of Phantom Awards. No Phantom Award granted
under the Plan and no right arising under such Phantom Award shall be transferable other than by will or by the laws of descent and distribution except in accordance with the Plan or a Phantom Award Agreement. 

(d) Distributions. 

  
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 (i) After the grant of Phantom Awards, a Participant shall be entitled to receive, as soon as
practicable following the payment of Distributions to the Investor Holders, the Vested Distributions. 
 (ii) After the grant of Phantom
Awards, a Participant shall be credited into a bookkeeping account (a “Deferred Distribution Account”) an amount equal to the Unvested Distributions. To the extent that the Unvested Phantom Awards underlying the Unvested
Distributions become Vested Phantom Awards, the Participant shall be entitled to receive a payment with respect to such Unvested Distributions within thirty (30) days following the date such Unvested Phantom Awards become Vested Phantom Awards. 

7. Termination of Employment/Service. Unless otherwise provided in a Phantom Award Agreement: 

(a) Phantom Interests. 

(i) Upon a termination of employment or service of a Participant for any reason, the Unvested Phantom Awards shall be forfeited without
consideration. 
 (ii) In the event of a termination of employment or service of a Participant for any reason, except as otherwise provided
in a Phantom Award Agreement, the Vested Phantom Awards shall immediately terminate without the payment of consideration; provided, however, that, if the Participant’s employment is terminated (i) due to the Participant’s death or
Disability or (ii) by the Company without Cause, the Vested Phantom Awards shall immediately terminate in consideration for an aggregate amount equal to the Fair Market Value of such Vested Phantom Award as of the date of such termination of
employment or service; provided further that the Company may, in its sole discretion, deliver a promissory note to the Participant to pay the consideration for the cancellation of any Vested Phantom Award, with interest calculated at
the prime rate (as defined in the Wall Street Journal), over a period not to exceed three (3) years. 
 (iii) Notwithstanding the
foregoing, except as otherwise provided in a Phantom Award Agreement, upon a Change in Control prior to the Participant’s termination of employment, the Vested Phantom Award shall immediately terminate in consideration for an amount equal to
the Fair Market Value of such Vested Phantom Award as of the time of such Change in Control and the Unvested Phantom Award shall terminate (if applicable pursuant to the vesting provisions of the Participant’s Phantom Award Agreement) without
cosideration. 
 (b) Distributions. Upon a termination of employment or service of a Participant for any reason, the Unvested
Distributions credited to such Participant’s Deferred Distribution Account shall be forfeited without consideration. Upon a Change in Control prior to the Participant’s termination of employment or service, the Unvested Distributions
credited to the Participant’s Deferred Distribution Account shall be forfeited (if applicable pursuant to the vesting provisions of the Participant’s Phantom Award Agreement) without consideration. Following a termination of employment or
service of a Participant for any reason or a Change in Control, the Participant shall not be entitled to receive any further Distributions. 

  
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 8. Adjustments. In the event that the Investor Holders make, or a third party makes, an
investment relating to the Company or any of its Affiliates following the Effective Date, the Administrator may, in its sole discretion and without liability to any person, make an adjustment, if any, as it deems to be equitable to the Plan or any
outstanding Phantom Award, including, without limitation, adjusting the performance vesting criteria of any outstanding Phantom Award. 
 9.
Plan and Awards Not to Confer Rights with Respect to Continuance of Employment or Relationship. Neither the Plan nor any action taken thereunder shall be construed as giving any participant any right to continue such Participant’s
relationship with the Company or any of its Subsidiaries, nor shall it give any employee the right to be retained in the employ of the Company or any of its Subsidiaries, or interfere in any way with the right of the Company or any of its
Subsidiaries to terminate any Participant’s employment or relationship, as the case may be, at any time with or without Cause. 
 10.
No Claim or Right Under the Plan for Phantom Awards. No employee, director or consultant of the Company or any of its Subsidiaries shall at any time have the right to be selected as a Participant in the Plan nor, having been selected as a
Participant and granted a Phantom Award, to be granted any additional Phantom Award. 
 11. Taxes. The Company may make such
provisions and take such steps as it may deem necessary or appropriate with respect to all federal, state, local and other taxes applicable to the grant, payment and holdings of Phantom Awards or the payment of the Deferred Distribution Account.

 12. No Liability of Administrator. No member of the Administrator shall be personally liable by reason of any contract or other
instrument executed by such member or on his or her behalf in his or her capacity as a member of the Administrator or for any mistake of judgment made in good faith, and the Company shall be indemnify and hold harmless each such member and each
employee, officer or director of the Company to whom any duty or power relating to the administration or interpretation of the Plan may be allocated or delegated against any cost or expense (including counsel fees) or liability (including any sum
paid in settlement of a claim with the approval of the Board) arising out of any act or omission to act in connection with the Plan unless such act arises out of such person’s own fraud or willful misconduct. 

13. Amendment or Termination. The Administrator may, with prospective or retroactive effect, amend, suspend or terminate the Plan or
any portion thereof at any time and for any reason; provided, however, that (i) no amendment, suspension, or termination, without the consent of the Participants, shall affect adversely any then outstanding Phantom Awards, and (ii) no
amendment or other action that requires shareholder approval in order for the Plan to continue to comply with applicable law, rule or regulation shall be effective unless such amendment or other action shall be approved by the requisite vote of
shareholders of the Company entitled to vote thereon. Notwithstanding any terms of the Plan to the contrary, the Plan may be amended or modified by the Administrator at any time to the extent necessary to prevent non-compliance with Section 409A of
the Code. 

  
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 14. Captions. The captions preceding the sections of the Plan have been inserted solely as
a matter of convenience and shall not in any manner define or limit the scope or intent of any provision of the Plan. 
 15. Governing
Law. The Plan and all rights thereunder shall be governed by and construed in accordance with the laws of the State of New York applicable to contracts made and to be performed entirely within such State, without reference to conflict of laws
principles. 
 16. Severability. In the event that any provision of the Plan shall be held illegal or invalid for any reason, such
illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 

17. Effective Date. The Plan shall become effective as of
[                    ], 2009. 

  
 -7-EX-10.15

 Exhibit 10.15 

AMENDMENT NO. 1 TO THE AMENDED AND RESTATED SCHOOL BUS 

HOLDINGS INC. PHANTOM AWARD PLAN 

Dated as of September 21, 2014 

Amendment made as of September 21, 2014 to the Amended and Restated Schools Bus Holdings Inc. Phantom Award Plan (the
“Plan”). 
 WHEREAS, School Bus Holdings Inc. (“School Bus”) has maintained the Plan to motivate and
retain certain individuals who are responsible for the attainment of the primary long-term performance goals of Traxis and its affiliates; 

WHEREAS, pursuant to the Purchase Agreement by and between The Traxis Group B.V. (“Traxis”) and Hennessy Capital Acquisition
Corp. (the “Purchaser”) relating to the purchase of capital stock of School Bus dated as of the date hereof (the “Purchase Agreement”), the Purchaser acquired from the Traxis all of the outstanding shares of capital
stock of School Bus effective as of the Closing (as defined in the Purchase Agreement); 
 WHEREAS, in connection with the transactions
contemplated by the Purchase Agreement, effective as of the Closing, School Bus assigned to Traxis and Traxis assumed the Plan, the award agreements and all liabilities which are related to the Plan or may arise thereunder; and 

WHEREAS, Traxis and School Bus each desire that Traxis will maintain the Plan on terms substantially similar to those currently in effect.

 NOW, THEREFORE, pursuant to Section 13 of the Plan, the Plan is hereby amended, effective as of the Closing, to provide as follows:

 1. The name of the Plan shall be changed to “Amended and Restated The Traxis Group B.V. Phantom Award Plan.” The phrase “the School Bus
Holdings Inc. Phantom Award Plan” in Section 1 of the Plan and “this Amended and Restated School Bus Holdings Inc. Phantom Award Plan” in Section 2 shall each be deleted and replaced with the phrase “The Traxis Group
B.V. Phantom Award Plan”. 
 2. The definition of “Board” set forth in Section 2 of the Plan shall be amended to read in its
entirety as follows: 
 ““Board” shall mean the Board of Directors of The Traxis Group B.V.” 

3. The definitions of “Cause”, “Employment Agreement” and “Participant”, each as set forth in
Section 2 of the Plan and Sections 4, 9 and 10 of the Plan shall be amended by deleting each instance of the phrase “the Company or any of its Subsidiaries” and replacing each such instance with “The Traxis Group B.V., the
Company or any of their Subsidiaries”. 
 4. The definition of “Change in Control” set forth in Section 2 of the Plan shall be
amended by deleting the following: 

 “or the Investor Holders no longer have the right by ownership or agreement to designate a
majority of the Board” 
 5. The definition of “Disability” set forth in Section 2 of the Plan shall be amended to replace the
first reference to “Company” with “Administrator”. 
 6. The definition of “Investor Holders” set forth in
Section 2 of the Plan shall be amended to replace “Bus America Holding BV” with “The Traxis Group B.V.” 
 7. Section 4 of the
Plan shall be amended to insert the following sentence at the end thereof: 
 “No new Participants will be permitted after the Closing
Date (as such term is defined in the Purchase Agreement).” 
 8. Section 6(d)(i) of the Plan shall be amended to read in its entirety as follows:

 “(i) After the grant of Phantom Awards, a Participant shall be entitled to receive, as soon as practicable following the payment of
Distributions to the Investor Holders, but in no event later than March 15 in the year following the year in which such Distributions were made, the Vested Distributions.” 

9. Section 7(a)(ii) of the Plan shall be amended by deleting the phrase “Company may, in its sole discretion” and replacing it with the phrase
“Administrator may, in the Administrator’s sole discretion”. 
 10. A new Section 7(c) shall be added to read in its entirety as
follows: 
 “(c) Payments. All payments due hereunder shall be paid in accordance with the terms of the Plan and applicable
Phantom Award Agreement, provided that in no event shall such payments be paid following March 15 in the year following the year in which such vested payments otherwise become due to the Participant.” 

11. Section 11 of the Plan shall be amended by deleting the word “Company” and replacing it with the word “Administrator”. 

12. Section 12 of the Plan shall be amended by replacing references to “the Company” with “The Traxis Group B.V.” 

13. Section 13 of the Plan shall be amended by adding the following to the end of Section 13: 

“It is the intention of the Administer that this Plan at all times be operated in accordance with the requirements of Section 409A
of the Code, as amended, and any Treasury Regulations or other Treasury guidance issued thereunder (collectively, “Section 409A”), if applicable, and any provision contained herein shall be construed in a manner that is in compliance with
Section 409A, if applicable. Payments provided herein are intended to be exempt from Section 409A to the maximum extent possible under the short-term deferrals exception described in Treasury regulation § 1.409A-1(b)(4). Each payment
hereunder shall constitute a “separately identified” amount within the meaning of Treasury regulation § 1.409A-2(b)(2).” 

 14. Sections 14 through 17, and all references thereto, shall be renumbered as Sections 15 through 18, and a new
Section 14 shall be added immediately after Section 13 as follows: 
 “14. Plan Obligations. Following the effective
date of Amendment No. 1 to the Plan, The Traxis Group B.V. shall be responsible for all payments which shall be made under the Plan; provided that, in order to ease The Traxis Group B.V.’s administrative burdens under the Plan, the
Company, upon reasonable request from The Traxis Group B.V. and to the extent permitted by applicable law, shall distribute cash from The Traxis Group B.V. to the Participants through the Company’s payroll, in accordance with the terms of the
Plan, provided that prior to such payments being due, the Company receives from The Traxis Group B.V. (i) all amounts to be distributed to the Participants and (ii) all amounts attributable to the employment taxes related to such
distributions (including the employer portion of all payroll taxes). For the avoidance of doubt, Participants are creditors of The Traxis Group B.V. and not of the Company.” 

The Plan, except as otherwise set forth herein, shall remain in full force and effect in all other respects.

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