Document:

EX-10.6

 

Exhibit 10.6

	 	 	 	 	 

Business Consultation Agreement

For Human Resources Consultation

Between

ACF Industries LLC

And

American Railcar Industries, Inc.

Dated

April 1, 2005

     This agreement as of April 1, 2005, is made BETWEEN ACF Industries LLC, whose address is 101
Clark Street, St. Charles, Missouri 63301 (referred to as the “Consultant”), AND American Railcar
Industries, Inc. whose address is 100 Clark Street, St. Charles, Missouri 63301 (referred to as the
“Company”).

     1. Consultation Services. The Company hereby employs the Consultant to perform the following
services
in accordance with the terms and conditions set forth in this agreement:

     The Consultant will consult with and advise the Company, on a non-exclusive basis, regarding
the following matters:

          a. Labor litigation support and labor relations support and consultation, and labor
contract
interpretation and negotiation services.

     Gary Rager shall have primary responsibility for providing the services. He may involve
Consultant’s other staff as necessary.

     2. Term of Agreement. This agreement will begin April 1, 2005 and will end March 31, 2015.
Either party
may cancel this agreement on 30 days prior written notice to the other party in writing, by
certified mail or personal
delivery.

     3. Time Devoted by Consultant. It is anticipated that the Consultant will spend approximately
20 hours
per week in fulfilling its obligations under this contract. The particular amount of time may
vary from day to day or
week to week.

     4. Place Where Services Will Be Rendered. The Consultant will perform most services in
accordance
with this contract at 100 Clark Street, St. Charles, Missouri. In addition, the Consultant
will perform services on the
telephone and at such other places as designated by the Company to perform these services in
accordance with this
agreement.

     5. Payment to Consultant.

     The Company will pay the Consultant the sum of one hundred fifty Dollars ($150.00) per hour
payable monthly on or before the
15th day of each month. The Consultant will also be paid for
extraordinary traveling and living expenses if travel is required by the Company.

     6. Independent Contractor.
Both the Company and the Consultant agree that the Consultant will
act as an
independent contractor in the performance of its duties under this contract. Accordingly, the
Consultant shall be
responsible for payment of all taxes including Federal, State and local taxes arising out of
the Consultant’s activities
in accordance with this contract, including by way of illustration but not limitation, Federal
and State income tax,
Social Security tax, Unemployment Insurance taxes, and any other taxes or business license
fees as required.

     7. Confidential Information. The Consultant agrees that any information received by
the Consultant

 

 

during any furtherance of the Consultant’s obligations in accordance with this contract
which concerns the personal, financial or other affairs of the company will be treated by the
Consultant in full confidence and will not be revealed to any other persons, firms or
organizations.

     8. Employment of Others. The Company may from time to time request that the Consultant arrange
for the services of others. All costs to the Consultant for those services will be paid by the
Company but in no event shall the Consultant employ others without the prior authorization of the
Company.

ACF Industries LLC

	 	 	 	 
	By:

	 	/s/ Mark A. Crinnion
	Title:

	 	Vice President

American Railcar Industries, Inc

	 	 	 	 
	By:

	 	/s/ James J. Unger
	Title:

	 	PresidentEX-10.7

 

Exhibit 10.7

Business Consultation Agreement

For Engineering Services

Between

ACF Industries LLC

And

American Railcar Industries, Inc.

As Of

April 1, 2005

     This agreement as of April 1, 2005, is made BETWEEN ACF Industries LLC, whose address is 101  clark
Street, St. Charles, Missouri 63301 (referred to as the “Company”), AND American Railcar
Industries, Inc. whose address is 100 Clark Street, St. Charles, Missouri 63301 (referred to as the “Consultant”).

     1. Consultation Services. The Company hereby employs the Consultant to perform the following
services in accordance with the terms and conditions set forth in this agreement:

     The Consultant will consult with and advise the company, on a non-exclusive basis, regarding
he following matters:

          a. Engineering consultation and advice.

     Homer Taber shall have primary responsibility for providing the services. He may
involve Consultant’s other staff as necessary.

     2. Term of Agreement. This agreement will begin April 1, 2005 and will end March 31, 2015.
Either party may cancel this agreement on 30 days prior written notice to the other party in writing, by
certified mail or personal delivery.

     3. Time Devoted by Consultant. It is anticipated that the Consultant will spend approximately
20 hours per week in fulfilling.its obligations under this contract. The particular amount of time may
vary from day to day or week to week.

     4. Place Where Services Will Be Rendered. The Consultant will perform most services in
accordance with this contract at 100 Clark Street, St, Charles, Missouri. In addition, the Consultant
will perform services on the telephone and at such other places as designated by the Company to perform these services in
accordance with this agreement.

     5. Payment to Consultant.

     The Company will pay the Consultant the sum of one hundred fifty Dollars ($ 150.00) per
hour payable monthly on or before the 15th day of each month. The Consultant will also be paid for
extraordinary traveling and living expenses if travel is required by the Company.

     6. Independent Contractor. Both the Company and the Consultant agree that the
Consultant will act as an independent contractor in the performance of its duties under this contract. Accordingly, the
Consultant shall be responsible for payment of all taxes including Federal, State and local taxes arising out of
the Consultant’s, activities in accordance with this contract, including by way of illustration but not limitation, Federal
and State income tax, Social Security tax, Unemployment Insurance taxes, and any other taxes or business license
fees as required.

     7. Confidential Information. The Consultant agrees that any information received by the
Consultant during any furtherance of the Consultant’s obligations in accordance with this contract which
concerns the personal,

 

financial or other affairs of the Company will be treated by the Consultant in full confidence and
will not be revealed

to any other persons, firms or organizations.

     8. Employment of Others. The Company may from time to time request that the consultant
arrange for the services of others. All costs to the Consultant for those services will be paid by the Company
but in no event shall the Consultant employ others without the prior authorization of the Company.

ACF Industries LLC

By: /s/ Mark
A. Crinnion

Title: Vice President/Treasurer

American Railcar Industries, Inc.

By: /s/
James J. Unger

Title: PresidentEX-10.8

 

Exhibit 10.8

Guaranty

To The CIT Group/Equipment Financing Inc.

900 Ashwood Parkway, 6th Floor

 

Address

Atlanta                                                            GA                    30338

 

City                                                                State                Zip
Code

Each of us severally requests you to extend credit to or to
purchase security agreements, leases, notes, accounts and/or
other obligations (herein generally termed “paper”) of
or from or otherwise to do business with

American Railcar Industries,
Inc.                                                            St.
Charles                    MO

 

Company                                                                                                          City                          State

hereinafter called the “Company,” and to induce you so
to do and in consideration thereof and of benefits to accrue to
each of us therefrom, each of us, as a primary obligor, jointly
and severally and unconditionally guarantees to you that the
Company will fully and promptly pay and perform all its present
and future obligations to you, whether direct or indirect, joint
or several, absolute or contingent, secured or unsecured,
matured or unmatured and whether originally contracted with you
or otherwise acquired by you, irrespective of any invalidity or
unenforceability of any such obligation or the insufficiency,
invalidity or unenforceability of any security therefor; and
agrees, without your first having to proceed against the Company
or to liquidate paper or any security therefor, to pay on demand
all sums due and to become due to you from the Company and all
losses, costs, attorneys’ fees or expenses which may be
suffered by you by reason of the Company’s default or
default of any of the undersigned hereunder; and agrees to be
bound by and on demand to pay any deficiency established by a
sale of paper and/or security held, with or without notice to
us. This guaranty is an unconditional guarantee of payment and
performance. No guarantor shall be released or discharged,
either in whole or in part, by your failure or delay to perfect
or continue the perfection of any security interest in any
property which secures the obligations of the Company or any of
us to you, or to protect the property covered by such security
interest.

No termination hereof shall be effected by the death of any or
all of us. No termination shall be effective except by notice
sent to you by certified mail return receipt requested naming a
termination date effective not less than 90 days after the
receipt of such notice by you; or effective as to any of us who
has not given such notice; or affect any transaction effected
prior to the effective date of termination.

Each of us waives: notice of acceptance hereof; presentment,
demand, protest and notice of nonpayment or protest as to any
note or obligation signed, accepted, endorsed or assigned to you
by the Company; any and all rights of subrogation,
reimbursement, indemnity, exoneration, contribution or any other
claim which any of us may now or hereafter have against the
Company or any other person directly or contingently liable for
the obligations guaranteed hereunder, or against or with respect
to the Company’s property (including, without limitation,
property collateralizing its obligations to you), arising from
the existence or performance of this guaranty; all exemptions
and homestead laws and any other demands and notices required by
law; all setoffs and counterclaims; any and all defenses based
on suretyship or any other applicable law, including without
limitation all rights and defenses arising out of (i) an
election of remedies by you even though that election of
remedies may have destroyed rights of subrogation and
reimbursement against the Company by operation of law or
otherwise, (ii) protections afforded to the Company
pursuant to antideficiency or similar laws limiting or
discharging the Company’s obligations to you,
(iii) the invalidity or unenforceability of this guaranty,
(iv) the failure to notify any of us of the disposition of any
property securing the obligations of the Company, (v) the
commercial reasonableness of such disposition or the impairment,
however caused, of the value of such property, and (vi) any
duty on your part (should such duty exist) to disclose to any of
us any matter, fact or thing related to the business operations
or condition (financial or otherwise) of the Company or its
affiliates or property, whether now or hereafter known by you.

You may at any time and from time to time, without our consent,
without notice to us and without affecting or impairing the
obligation of any of us hereunder, do any of the following:

		
	(a) 	
    renew, extend (including extensions beyond the original term of
    the respective item of paper), modify (including changes in
    interest rates), release or discharge any obligations of the
    Company, of its customers, of co-guarantors (whether hereunder
    or under a separate instrument) or of any other party at any
    time directly or contingently liable for the payment of any said
    obligations;

		
	(b) 	accept partial payments of said obligations;

		
	(c) 	
    accept new or additional documents, instruments or agreements
    relating to or in substitution of said obligations;

		
	5-SA-477 (10/96) Guaranty - Continuing (excluding Kentucky and Louisiana)	Page 1 of 3

 

 

 

d) settle, release (by operation of law or otherwise),
compound, compromise, collect or liquidate any of said
obligations and the security therefor in any manner.

e) consent to the transfer or return of the security, take
and hold additional security or guaranties for said obligations;

f) amend, exchange, release or waive any security or
guaranty; or

g) bid and purchase at any sale of paper or security and
apply any proceeds or security, and direct the order and manner
of sale.

If a claim is made upon you at any time for repayment or
recovery of any amounts(s) or other value received by you, from
any source, in payment of or on account of any of the
obligations of the Company guaranteed hereunder and you repay or
otherwise become liable for all or any part of such claim by
reason of:

a) any judgment, decree or order of any court or
administrative body having competent jurisdiction; or

b) any settlement or compromise of any such claim,

We shall remain jointly and severally liable to you hereunder
for the amount so repaid or for which you are otherwise liable
to the same extent as if such amount(s) had never been received
by you, notwithstanding any termination hereof or the
cancellation of any note or other agreement evidencing any of
the obligations of the Company. This guaranty shall bind our
respective heirs, administrators, representatives, successors,
and assigns, and shall inure to your successors and assigns,
including, but not limited to, any party to whom you may assign
any item or items of paper, we hereby waiving notice of any such
assignment. All of your rights are cumulative and not
alternative.

By execution of this guaranty each guarantor hereunder agrees to
waive all rights to trial by jury in any action, proceeding, or
counterclaim on any matter whatsoever arising out of, in
connection with, or related to this guaranty.

Executed ____________________________________________________

 

	 	 	 
	
    
    Individual

    	 	
    NOTE: Individual guarantors must sign without titles. Sign
    “John Smith,” not “John Smith, President.”
	
    
    Guarantors

    	 	
    Use street addresses, not P.O. Boxes.

	 	 	 
	 	 	
    Individually
	 	 	 
	 	 	
    Home Address
	 	 	 
	 	 	
    Individually
	 	 	 
	 	 	
    Home Address
	 	 	 
	 	 	
    Individually
	 	 	 
	 	 	
    Home Address
	 	 	 
	 	 	
    Individually
	 	 	 
	 	 	
    Home Address
	 	 	 

	Witness	 	 
	 	 	 

	Home Address	 	 
	 	 	 

5-SA-477 (10/96) Guaranty - Continuing (excluding
Kentucky and Louisiana)

page 2 of 3

 

 

Corporate

Guarantors

NOTE: Enter exact name of corporation on first blank line,
followed by city, state and zip code.

	 	 	 	 	 	 	 
	
    ACF Industries, Incorporated
	 
	
    
    Name of Corporation

    	 	 	 	 	 	 
	 
	
    
    St. Charles

    	 	 	 	
    MO	 	
    63301
	 
	
    
    City

    	 	 	 	
    State	 	
    Zip Code
	 
	By /s/ Umesh
Choksi

    	 	Title       Treasurer
	Have signed by President, Vice President or Treasurer.	 	 
	 
	By 
	 	Title 
	 
	 	 	
     
	 
	
    
    CORPORATE SEAL

    	 	 	 	 	 	 
	 
	
    /s/ Nancy Collins
	 
	
    Attest	 	 	 	
    Asst. Secretary
	 
	 
	
    Name of Corporation	 	 	 	 	 	 
	 
	 
	
    
    City

    	 	 	 	
    State	 	
    Zip Code
	 
	By 
	 	Title
	Have signed by President, Vice President or Treasurer.	 	 
	 
	By 
	 	Title 
	 	 	
     
	 
	
    
    CORPORATE SEAL

    	 	 	 	 	 	 
	 
	 
	 
	 
	 
	
    Attest	 	 	 	Secretary
	 
	5-SA-477 (10/96)
Guaranty - Continuing (excluding Kentucky and Louisiana)
	 
	Page 3 of 3

 

 

RIDER TO GUARANTY BY ACE INDUSTRIES, INCORPORATED, AS GUARANTOR
(“GUARANTOR”) TO THE CIT GROUP/EQUIPMENT FINANCING,
INC., AS LESSOR (“CIT OR LESSOR”) FOR THE BENEFIT OF
AMERICAN RAILCAR INDUSTRIES, INC., AS LESSEE (“LESSEE”)

[ILLEGIBLE]

			
	 	(i)	within 120 days after the end of each fiscal year of the
    Guarantor, consolidated balance sheets of the Guarantor and its
    Consolidated Subsidiaries as at the end of such fiscal year and
    Consolidated Statements and Statements of profit and loss and
    surplus of the Guarantor’s Railcar Operations, all prepared
    in accordance with generally accepted principles and practices
    of accounting consistently applied, and certified by KPMG or
    such other independent certified public accountants as are
    selected by the Guarantor and are satisfactory to CIT;
	 	 	 
	 	(ii)	within 60 days after the end of each of the first three
    quarters of each fiscal year of the Guarantor, a consolidated
    balance sheet of the Guarantor and its Consolidated Subsidiaries
    as at the end of such quarter and Consolidated Statements and
    Statements of profit and loss and surplus of the Guarantor’s
    Railcar Operations for such period, all prepared in accordance
    with generally accepted principles and practices of accounting
    consistently applied and
	 	 	 
	 	(iii)	from time to time, such further information regarding the
    business affairs and financial condition of the railcar
    manufacturing and leasing business activities of Guarantor and
    its Consolidated Subsidiaries as CIT may reasonable require;
    provided, however, that Guarantor shall not be required to
    furnish copies of any filings with the Securities and Exchange
    Commission as to which confidential treatment has been granted.
	 	 	 
	(b)	As used herein:
	 	 	 
	 	(iii)	“Consolidated Statement and Consolidating Statements”
    means financial statements of the Guarantor and its Consolidated
    Subsidiaries on a consolidated basis

 

 

 (ii)
      “Consolidated Subsidiary” means any Subsidiary
(whether now existing or hereafter organized or acquired) which shall
at any time be consolidated with the Guarantor.

(iii)
      “Subsidiary” means any corporation at least the
majority of whose securities having ordinary voting power for the
election of directors are at the time owned by the Guarantor and/or
one or more of its other Subsidiaries.

GUARANTOR:

ACF Industries, Incorporated

LESSOR:

The CIT Group/Equipment Financing, Inc.

	BY:  	/s/ Umesh Choksi
	 	 
	 

	TITLE:  	Treasurer
	 	 

	BY:  	/s/ Mike Hampton
	 	 
	 

	TITLE:  	MIKE HAMPTON
	 	 
	 	ASSISTANT VICE PRESIDENT

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