Document:

EX-10.1

 Exhibit 10.1 

FIRST AMENDMENT TO 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

This First Amendment amends the terms of the Amended and Restated Employment Agreement (the (“Agreement”) dated as of
August 28, 2012 by and between The Greenbrier Companies, Inc. (the “Company”) and
                                 (“Executive”). 

1. Timing of Payment of Pro-Rated Bonus. Section 7.1(a) of the Agreement is amended as set forth below, such that the pro-rated
annual bonus payable in respect of the year in which Executive’s employment terminates shall be calculated solely based on achievement of performance measures and shall be paid at the time bonuses are otherwise payable under the Company’s
annual bonus program. 
 “(a) The Company shall pay Executive a lump sum severance payment equal to the sum of: (i) an amount equal
to two times Executive’s Base Salary as in effect immediately preceding the date of Executive’s termination of employment, plus (ii) an amount equal to two times the Average Bonus. Such severance payment shall be paid within 60
days following the date of termination, provided Executive signs the release of claims as required under this Section 7.1, and further provided that if the 60-day post-termination period spans two taxable years of Executive (i.e., two calendar
years), the severance payments shall be paid in the second taxable year. In addition, the Company shall pay Executive a pro-rated bonus for the fiscal year in which such termination occurs, in an amount equal to the annual bonus Executive would have
earned based on achievement of applicable performance measures, if he had remained employed by the Company through the date bonuses are normally paid to employees under the Company’s annual bonus program (the “Payment Date”),
multiplied by a fraction, the numerator of which is the number of days during such fiscal year (which begins September 1) that Executive is employed and the denominator of which is 365 (the “Pro-Rated Bonus”). The Pro-Rated Bonus
shall be paid on the Payment Date. “Average Bonus” shall mean the average of the two most recent annual bonuses received by the Executive prior to the year in which his termination of employment occurs. The Company may condition the
receipt of the severance payments provided for in this Section 7.1 on Executive having provided to the Company a signed, comprehensive release of claims against the Company and its affiliates as of the date of termination within 30 days
of the date of termination, in substantially the form attached as Exhibit A to this Agreement.” 
 2. Acceleration of Vesting.
Section 7.1(c) of the Agreement is amended as set forth below, such that vesting of performance-based restricted stock units will not accelerate upon termination of Executive’s employment. 

“(c) As of the Date of Termination, all unvested stock options held by Executive shall become fully vested and exercisable, all
restricted stock awards held by Executive shall become fully vested and no longer subject to repurchase or forfeiture, and all restricted stock units subject to time-based vesting shall become fully vested. Any performance-based restricted stock
awards shall vest at the target performance level. Any performance-based restricted stock units shall continue to vest based on performance during the applicable performance measurement period. Notwithstanding any provision to the contrary in the
applicable restricted stock unit award agreement, upon vesting of the performance-based restricted stock units, Executive will be entitled to receive the number of shares issuable under the terms of the applicable restricted stock unit award
agreement based upon the level of performance achieved during the entire performance measurement period.” 

  
 First Amendment to Amended
and Restated Employment Agreement 
 Page 1 

 Except as amended by this First Amendment, the Agreement shall remain in full force and effect. 

 

					
	THE GREENBRIER COMPANIES, INC.	 		  	EXECUTIVE
			
	
By:                        
                                         
                                 
	 		  	                                     
                                         
                      
			
	 Dated
Signed:                                        
                                     
	 		  	Dated
Signed:                                        
                                

  
 First Amendment to Amended
and Restated Employment Agreement 
 Page 2EX-10.2

 Exhibit 10.2 

THE GREENBRIER COMPANIES, INC. 

Amendment No. 2 

to 
 2010 Amended and
Restated Stock Incentive Plan 
 Pursuant to Section 15.2 of the 2010 Amended and Restated Stock Incentive Plan (the
“Plan”) of The Greenbrier Companies, Inc. (the “Company”), the Board of Directors of the Company has amended the Plan as set forth below. Capitalized terms have the meanings as defined in the Plan. 

1. Elimination of Stock Option and SAR Share Recycling. Section 3.2 of the Plan is hereby deleted in its entirety and replaced
with new Section 3.2 as set forth below, in order to eliminate share recycling with respect to Option and SAR awards (but not with respect to Restricted Shares or Stock Units): 

“3.2 Shares Available. If Stock Units are settled, then only the number of Common Shares (if any) actually issued in settlement of
such Stock Units shall reduce the number available under Section 3.1 and the balance shall again become available for Awards under the Plan. If Stock Units are forfeited or terminate for any other reason before being settled, then the
corresponding Common Shares shall again become available for Awards under the Plan. If Restricted Shares are forfeited, the corresponding Common Shares shall again become available for Awards under the Plan. The foregoing notwithstanding, the
aggregate number of Common Shares that may be issued under the Plan upon exercise of ISOs shall not be increased when Restricted Shares or Stock Units are forfeited or terminate. If Options or SARs, or Restricted Shares or Common Shares issued upon
the exercise of Options or SARs, are forfeited the number of underlying or corresponding Shares forfeited shall reduce the number available under Section 3.1, and shall not again become available for Awards under the Plan.” 

2. Prohibition of Re-Load Stock Options. The final sentence of Section 5.1 of the Plan is hereby deleted, in order to remove
authority to grant re-load stock options, the grant of which shall not be permitted under the Plan: 
 3. Prohibition on Cash-Out of
Underwater Options. A new Section 5.6 is added to the Plan as set forth below, in order to prohibit the cash-out of underwater stock options: 

“Notwithstanding any other provision of the Plan to the contrary, the Company shall not make any cash payment to the holder of an Option
that has an exercise price that is higher than the current Fair Market Value of the underlying Shares, in exchange for cancellation or termination of the Option.” 

4. Calculation of Automatic Director Grants. Section 6.1 of the Plan is deleted in its entirety and replaced with new
Section 6.1 as set forth below, in order to revise the manner in which the number of shares awarded is calculated for automatic awards to non-employee directors: 

  
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 “6.1 Automatic Awards. Immediately after the close of each annual stockholder
meeting, the Committee shall automatically grant to each person then serving as an Eligible Director, including any such person who is elected at such meeting, a Director Restricted Share award of such number of Common Shares as have an aggregate
per-share value, as determined pursuant to this Section 6.1, of $80,000, rounded to the nearest whole Share. Notwithstanding the foregoing, no grant shall be made to an Eligible Director if such grant would cause that Eligible Director to
become an “Acquiring Person” (as defined in the Stockholder Rights Agreement between The Greenbrier Companies, Inc. and Equiserve Trust Company, N.A. dated as of July 13, 2004, or successor agreement, if any). For purposes of
calculating the number of shares under each Director Restricted Share award, the per-share value shall equal the average of the most recent 30 days’ closing market prices of the Company’s common stock as of the date of grant, including the
date of grant.” 
 5. Elimination of Promissory Note Payment of Option Exercise Price. Section 7.5 of the Plan is
deleted in its entirety, in order to remove authority for the Company to permit the Exercise Price of Options to be paid by promissory note issued to the Company. Section 7.6 shall be renumbered as Section 7.5. 

6. Treatment of Stock Options in Change of Control. Section 11.3 is amended as set forth in subsections 6.1 through 6.3 below, in
order to provide that vesting of stock options will not automatically accelerate in the event of a Change of Control of the Company, absent action by the Compensation Committee: 

 

	 	6.1	Section 11.3(a) of the Plan is deleted in its entirety and replaced with new Section 11.3(a) as set forth below 

“(a) The Committee may determine, at the time of granting an Option or thereafter, that all or part of such Option shall become vested in
the event that a Change of Control occurs with respect to the Company or in the event that the Participant is subject to an Involuntary Termination after a Change in Control. Notwithstanding the foregoing, any Optionee shall be entitled to decline
the acceleration of all or any of his or her Options, if he or she determines that such acceleration may result in adverse tax consequences to him or her.” 
  

	 	6.2	Section 11.3(b)(i) is amended by deleting the final sentence of that subsection. 

  

	 	6.3	Section 11.3(b)(ii) is amended by deleting the words “without any limitation on exercisability” from the first sentence of that subsection. 

  
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 7. Effective Date. Except as otherwise provided herein, this Amendment No. 2 shall be
effective as of the date of approval by the Board of Directors. Except as hereby amended, the Plan shall remain in full force and effect. 

Approved by the Board of Directors October 28, 2013. 

  
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