Document:

EX-10.1

 Exhibit 10.1 

Certain identified information in this document has been excluded because it is both (i) not material and (ii) would be competitively harmful if
publicly disclosed, and has been marked with “[***]” to indicate where omissions have been made. 
 SECOND AMENDMENT TO
INDUSTRIAL FACILITY LEASE 
 THIS SECOND AMENDMENT TO INDUSTRIAL FACILITY LEASE (this “Second Amendment”) is made and entered into
as of February 26, 2019 by and between TEACHERS’ RETIREMENT SYSTEMS OF ALABAMA, an instrumentality of the State of Alabama, and EMPLOYEES’ RETIREMENT SYSTEM OF ALABAMA, an instrumentality of the State of Alabama (collectively,
“Landlord”), and FREIGHTCAR ALABAMA, LLC, a Delaware limited liability company (“Tenant”), and FREIGHTCAR AMERICA, INC., a Delaware corporation (“Guarantor”). 

WHEREAS, Landlord and Navistar, Inc. (“Original Tenant”) entered into that certain Industrial Facility Lease dated as of
September 29, 2011 (the “Original Lease”) pursuant to which Original Tenant leased from Landlord certain land and improvements located in the City of Cherokee, County of Colbert and State of Alabama, commonly known as 1200 Haley
Drive, Cherokee, Alabama, and more particularly described in the Original Lease as the “Leased Premises”; and 
 WHEREAS, a
memorandum of lease with respect to the Original Lease was recorded in the land records of Colbert County, Alabama on October 25, 2011 in Book 2011, page 22555; and 

WHEREAS, the Original Lease was amended by that certain Amendment to Industrial Facility Lease and Consent to Sublease dated as of
February 19, 2013, by and among Original Tenant, Landlord and Tenant (as a subtenant); and 
 WHEREAS, by Assignment and Assumption of
Lease dated as of February 28, 2018 (the “Assignment”), Original Tenant assigned to Tenant all of its right, title and interest in and under the foregoing lease and Tenant accepted said assignment, said instrument was recorded in the
land records of Colbert County, Alabama on March 6, 2018 in Book 2018, Page 5752 (the Original Lease, as heretofore amended and assigned, is referred to herein as the “Lease”); and 

WHEREAS, by Guaranty dated February 26, 2018 (the “Guaranty”), Guarantor guaranteed the obligations of Tenant under the Lease;
and 
 WHEREAS, Landlord and Tenant have agreed to extend the term of the Lease, provide for two extension terms at Tenant’s option,
provide for the Tenant’s right to reduce the amount of property included in the Leased Premises with a reduction in the amount of rent payable under the Lease, for the extended term of the Lease, all on the terms and conditions set forth in the
Lease, as amended by this Second Amendment (capitalized terms used herein and not otherwise defined herein shall have the meaning given to such terms in the Lease). 

 NOW THEREFORE, in consideration of the respective covenants and agreements herein contained,
and other good and valuable consideration, the receipt and sufficiency of all of which are hereby acknowledged, Landlord and Tenant do hereby agree as follows: 

1.    Estoppel. Landlord hereby represents and warrants that, to Landlord’s knowledge, as of the date hereof,
there are no defaults of Tenant under the Lease, and no circumstance exists which, if left uncured, would result in a default of Tenant under the Lease. Tenant hereby represents and warrants that, to Tenant’s knowledge, as of the date hereof,
there are no defaults of Landlord under the Lease, and no circumstance exists which, if left uncured, would result in a default of Landlord under the Lease. 

2.    Amendment of Lease. The Lease is hereby amended as follows: 

(a)    Extension of Initial Term. Section 1.2 of the Lease is hereby amended by deleting the date
“December 31, 2021” and substituting therefor the date “December 31, 2026”. 
 (b)    Extension
of Extension Term. Section 1.3 of the Lease is hereby amended and restated as follows: 

“Section 1.3 Extension Terms. Tenant shall have the right, upon written notice to Landlord given no
later than June 30, 2025 and provided no Event of Default shall have occurred and be continuing as of the date of such written notice, to elect to extend the term of this Lease for an additional term of sixty (60) months (the
“First Extension Term”) upon all of the terms, covenants and conditions contained in this Lease but at the rental rate specified for the First Extension Term in Section 4.1(d) below. Further, if such right to the First
Extension Term shall have been elected, Tenant shall have the additional right, upon written notice to Landlord given no later than June 30, 2030 and provided no Event of Default shall have occurred and be continuing as of the date of such
written notice, to elect to extend the term of this Lease for a further additional term of sixty (60) months (the “Second Extension Term”) upon all of the terms, covenants and conditions contained in this Lease but at the
rental rate specified for the Second Extension Term in Section 4.1(e) below. Any and all references contained herein to the “Term” shall be deemed to include the Initial Term, if and as extended pursuant hereto, each such
extension, an “Extension Term”.” 
 (c)    Reduction in Leased Premises. Article I of the
Lease is hereby amended by adding the following as new Sections 1.5, 1.6, 1.7, 1.8 and 1.9 at the end thereof: 

“Section 1.5 One Time Reduction in Leased Premises. On or before December 31, 2021 (as such date may be
accelerated pursuant to Sections 1.7, the “One Time Surrender Date”), Tenant shall vacate and surrender to Landlord that portion of the Leased Premises described in Exhibit A-1 attached hereto
(the “Vacated Premises” ), in good order and condition, reasonable wear and tear excepted. Tenant shall have the one-time right to adjust the description of the Vacated Premises attached as
Exhibit A-1 

  
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hereto subject to Tenant’s compliance with the following conditions: (a) Tenant shall give Landlord written notice of the change (which notice shall include the proposed revised Exhibit
A-1 and the amount of the increase or decrease in the square footage of the Vacated Premises located in the Facility as compared to the Exhibit A-1 previously agreed
upon) on or before December 15, 2019; (b) the change to the Vacated Premises described in Exhibit A-1 shall only involve a change to the portion of the Vacated Premises located in the Facility and shall
not involve areas of the Leased Premises located outside the Facility; (c) the Vacated Premises located in the Facility shall not exceed 993,000 square feet and (d) the Vacated Premises located in the Facility shall be contiguously located
and shall not be separated by or interspersed with Retained Premises (except to the extent of the “Vacated Premises/Office Space” currently designated on Exhibit A-2). Thereafter, Tenant shall retain
the balance of the Leased Premises (the “Retained Premises”) which thereafter shall be the “Leased Premises” for the purpose of this Lease, as described in Section 1.9 below. Tenant shall have no right to use
or occupy any of the Vacated Premises after the One Time Surrender Date, and, if vacated by Tenant in compliance with the terms and conditions of this Lease, Tenant shall not be responsible for and shall not have any obligation with respect to the
Vacated Premises, except as set forth in this Second Amendment. If Tenant fails to fully vacate the Vacated Premises in conformity with this Lease by the One Time Surrender Date, then Tenant shall proceed to fully vacate the Vacated Premises as soon
as possible and Tenant shall remain liable for the payment of Rent hereunder at the full unreduced rate provided for in Section 4.1(b) for all of the Leased Premises plus the Delay Fee (as defined below). If Tenant has not fully vacated the
Vacated Premises in conformity with this Lease within 10 days after the One Time Surrender Date, Landlord may, at its option (and in addition to collecting full unreduced Rent under Section 4.1(b) and the Delay Fee as provided herein), declare
an Event of Default hereunder. “Delay Fee” means an amount determined as follows: (i) if Tenant has failed to fully vacate the Vacated Premises in conformity with this Lease by the One Time Surrender Date, an amount equal to
ten percent (10%) of the monthly Rent then due hereunder; (ii) if Tenant has failed to fully vacate the Vacated Premises in conformity with this Lease by the one month anniversary of the One Time Surrender Date, an amount equal to twenty
percent (20%) of the monthly Rent then due hereunder; and (iii) if Tenant has failed to fully vacate the Vacated Premises in conformity with this Lease by the second month anniversary or any subsequent monthly anniversary of the One Time
Surrender Date, an amount equal to fifty percent (50%) of the monthly Rent then due hereunder as of the applicable monthly anniversary. 

Section 1.6 Access to Vacated Premises. It is understood that Landlord will seek to lease the Vacated Premises to
one or more tenants (the “Other Tenants”) for their use and occupation. In connection therewith, Tenant agrees that Tenant shall cooperate with Landlord in permitting access to the 

  
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Leased Premises at any time prior to the Conversion Date (as defined below), subject to reasonable prior arrangements made between Landlord and Tenant from time to time. It is further understood
that any Other Tenant shall, in connection with leasing the Vacated Premises, have the option to (a) purchase from Tenant for its fair market value all equipment (including cranes, power units and the like) located in the Vacated Premises, said
purchase to take place simultaneously with the commencement of said Other Tenant’s lease or (b) request the removal of all equipment (including cranes, power units and the like) located in the Vacated Premises, said removal to take place
prior to the commencement of said Other Tenant’s lease, which such removal and the repair of any damage caused by such removal being at Tenant’s sole cost and expense. Prior to entering into a lease or leases with any Other Tenant that is
a Competitor, Landlord shall obtain the written approval by Tenant of such Other Tenant. For purposes of this Section 1.6 a “Competitor” shall mean an entity that is a builder or rebuilder of the specific kinds of railcars built by
Tenant as more particularly identified on Schedule 1.6 attached hereto. 
 Section 1.7 Acceleration of One Time
Surrender Date Landlord may give Tenant written notice of Landlord’s request that Tenant agree to accelerate the One Time Surrender Date to a date that is at least 270 days from the date of such written notice. Tenant shall endeavor to
accommodate such request and shall provide Landlord with a written response within 10 days either agreeing to the accelerated date proposed by Landlord or proposing an alternative date. Failure to respond shall be deemed acceptance of the proposed
date. Once Landlord and Tenant mutually agree to a new accelerated One Time Surrender Date, the parties shall confirm such date in writing and such date shall then become the One Time Surrender Date for purposes of this Lease. 

Section 1.8 Staged Vacating of Leased Premises and Multiple Partial Surrender Dates. The parties acknowledge and
agree that in connection with Landlord’s efforts to lease the Vacated Premises to Other Tenants, it may be necessary or advantageous to accelerate the vacation and surrender by Tenant of only some and not all of the Vacated Premises from time
to time prior to the One Time Surrender Date and Tenant agrees that Landlord may stage the Tenant’s vacation and surrender of the Vacated Space so that Tenant will surrender portions of the Vacated Space on various dates as requested by
Landlord pursuant to the terms and conditions of this Section 1.8. Landlord may give Tenant written notice of Landlord’s request that Tenant agree to vacate and surrender a portion of the Vacated Premises (the “Partially Vacated
Premises”) on any date prior to the One Time Surrender Date (a “Partial Surrender Date”), which notice shall describe the Partially Vacated Premises and the Partial Surrender Date. The Partial Surrender Date must be a date
that is at least 270 days from the date of such written notice. Tenant shall endeavor to accommodate such request and shall provide Landlord with a written response within 10 days either 

  
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agreeing to the Partially Vacated Premises and the Partial Surrender Date or proposing an alternative Partial Surrender Date. Failure to respond shall be deemed acceptance of the proposed
Partially Vacated Premises and the Partial Surrender Date. The parties agree that multiple Partial Surrender Dates and the creation of multiple Partially Vacated Premises are allowed hereunder. Tenant shall have no right to use or occupy any of the
Partially Vacated Premises after the associated Partial Surrender Date occurs. If Tenant fails to fully vacate the Partially Vacated Premises in conformity with this Lease by the applicable Partial Surrender Date, then Tenant shall proceed to fully
vacate the Partially Vacated Premises as soon as possible and Tenant shall remain liable for the payment of Rent hereunder at the full unreduced rate provided for in Section 4.1(b) for all of the Leased Premises (except for any previous
reductions in rent pursuant to Section 4.4 for the vacation and surrender of Partially Vacated Premises on a prior Partial Surrender Date) plus the Partial Vacation Delay Fee (as defined below). If Tenant has not fully vacated the Partially
Vacated Premises in conformity with this Lease within 10 days after the Partial Surrender Date, Landlord may, at its option (and in addition to collecting Rent at the rate provided herein and the Partial Vacation Delay Fee as provided herein),
declare an Event of Default hereunder. “Partial Vacation Delay Fee” means an amount determined as follows: (i) if Tenant has failed to fully vacate the Partially Vacated Premises in conformity with this Lease by the Partial
Surrender Date, an amount equal to ten percent (10%) of the monthly Rent then due hereunder; (ii) if Tenant has failed to fully vacate the Partially Vacated Premises in conformity with this Lease by the one month anniversary of the Partial
Surrender Date, an amount equal to twenty percent (20%) of the monthly Rent then due hereunder; and (iii) if Tenant has failed to fully vacate the Partially Vacated Premises in conformity with this Lease by the second month anniversary or any
subsequent monthly anniversary of the Partial Surrender Date, an amount equal to fifty percent (50%) of the monthly Rent then due hereunder as of the applicable monthly anniversary. If Landlord has not previously requested the vacation and surrender
of all of the Vacated Premises pursuant to Partial Surrender Dates under this Section 1.8, any remaining portions of the Vacated Premises shall be deemed to be Partially Vacated Premises with a Partial Surrender Date of December 31, 2021
and the Tenant’s failure to fully vacate and surrender any such portion of the Vacated Premises by such date shall be subject to the provisions of this Section 1.8 above as it relates to Rent payment, Partial Vacation Delay Fees and
Landlord’s right to declare an Event of Default. 
 Section 1.9 Change to Definition of Leased Premises. Each
time the Tenant vacates and surrenders to Landlord all or any portion of the Vacated Premises (including Partially Vacated Premises), the definition of Leased Premises hereunder shall automatically be revised to equal the Leased Premises less the
applicable portion of the Vacated Premises (including all Partially Vacated Premises surrendered and vacated from time to time). 

  
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 (d)    Rent Reduction on Conversion Date(s). Section 4.1 of
the Lease is hereby amended by deleting clauses (b) and (c) thereof and inserting the following as clauses (b), (c), and (d): 

“(b)    [***] per month for each of the subsequent months of the Initial Term until the Conversion Date (as defined
in Section 4.4 below), subject to any reductions provided for pursuant to the terms and conditions of Section 4.4; 

(c)    [***] per month for each month subsequent to the Conversion Date through the end of the Initial Term (based on the
assumption that Tenant is renting 1,157,909 square feet of space in the Facility; provided, however: (i) the parties shall agree by December 15, 2019 on an addition to the foregoing Base Rent amount to add a base rental rate applicable to
the “Front Office” space exclusively used by Tenant in the Facility, which rate shall be discounted to account for improvements to such space previously paid for by Tenant and (ii) if Tenant exercises the option under Section 1.5
to change the amount of Vacated Premises located in the Facility, then the foregoing Base Rent amount shall be adjusted by increasing such amount on the basis of the increase in the amount of square feet of Vacated Premises (and conversely the
Retained Space) located in the Facility based on a rental rate of [***] per square foot; 
 (d)    The CPI Adjusted Base
Rent (as hereinafter defined) for each of the 120 months constituting the First Extension Term and the Second Extension Term. For the first 12 months of the First Extension Term, the CPI Adjusted Base Rent shall be the monthly Base Rent in effect
immediately prior to the First Extension Term adjusted upward by the amount of the percentage increase (if any) in the Consumer Price Index (as hereinafter defined) for the calendar month of December 2011 over December 2021. For each 12 month period
thereafter, the CPI Adjusted Base Rent shall be the monthly Base Rent in effect immediately prior to such 12 month period adjusted upward by the amount of the greater of (i) 2.0% or (ii) the percentage increase (if any) in the Consumer Price
Index for the calendar month immediately preceding such 12 month period over the same month in the immediately preceding year. “Consumer Price Index” shall mean the Consumer Price Index for All Urban Consumers, published by the Bureau of
Labor Statistics of the United States Department of Labor for All Items—New York-Northern New Jersey-Long Island,
NY-NJ-CT-PA (1982-84=100), or any successor index thereto as hereinafter provided. In the
event that the Consumer Price Index is converted to a different standard reference base or otherwise revised in the terms or number or kind of items contained therein or otherwise, the determination to be made shall be made with the use of such
conversion factor, formula or table for converting the Consumer Price Index as may be published by the Bureau of Labor Statistics or, if said Bureau shall not publish the same, then with the use of such conversion factor, formula or table as may be
published by Prentice-Hall, Inc. or any other nationally recognized publisher of similar statistical 

  
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information, or if a conversion factor, formula or table is unavailable, the parties shall, acting reasonably (within ten (10) business days thereof) agree upon in writing to use any other
method to adjust the Consumer Price Index, or any successor thereto, to the figure that would have been arrived at had the manner of computing the Consumer Price Index in effect on the date of this Lease not been altered; if the Consumer Price Index
ceases to be published on a monthly basis, then the shortest period for which the Consumer Price Index is published which includes the relevant months shall be used; if the Consumer Price Index ceases to be published, and there is no successor
thereto, such other index as Landlord and Tenant shall agree upon in writing shall be substituted for the Consumer Price Index.” 

(e)    Rent Reduction on Conversion Date(s). Section 4.4 of the Lease is hereby deleted and the following is
hereby substituted therefor: 
 Section 4.4 Conversion Date; Rent Reduction for Partial Surrender Dates. Once
Tenant has completely and fully surrendered all of the Vacated Premises in full conformity with the terms and conditions of this Lease, the date immediately succeeding such surrender of all of the Vacated Premises shall be the “Conversion
Date” (which shall date shall occur no later than January 1, 2022). If Partial Surrender Dates are created hereunder pursuant to Section 1.8 above, then Base Rent payable under Section 4.1(c) shall be reduced as provided for
herein (but subject to the terms of Section 1.8 for Tenant’s failure to properly vacate). On each Partial Surrender Date where Tenant has completely and fully surrendered the applicable Partially Vacated Premises in full conformity with
the terms and conditions of this Lease, the monthly Base Rent due under Section 4.1(c) shall be reduced by the amount obtained by multiplying the number of square feet in such Partially Vacated Premises by [***] and dividing the product
obtained by 12. If the Conversion Date or any such Partial Surrender Date occurs on a date that is not the first day of a month, then the change in rent occurring on such date shall be prorated on a daily basis for such partial month. 

(f)    Insurance and Casualty After Conversion Date. Due to Tenant no longer leasing the entirety of the Facility
after the Conversion Date, certain obligations and rights related to casualties and insuring of the Facility need to be adjusted as between Tenant and Landlord. Therefore, notwithstanding Section 4.3 of the Lease, commencing on and after the
Conversion Date, the following provisions of the Lease shall be amended as follows: 
 (i)    The
introductory sentence of Section 6.2 of the Lease shall be amended and restated as follows: 
 “Except as otherwise provided in
Section 6.4 below, Tenant, at its sole cost and expense, shall procure and Tenant shall maintain throughout the Term, the following policies of insurance:” 

  
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 (ii)    Section 6.4 of the Lease shall be amended by
addition the following sentence at the end thereof: 
 Notwithstanding the foregoing provisions of this Section 6.4, commencing on and
after the Conversion Date, Tenant shall cause the insurance premium for the property insurance coverage required under the first paragraph of Section 6.2(a) above to be billed separately by the insurance company providing such coverage as
follows: (i) the premium for such coverage related to the Retained Premises shall be billed to and paid by Tenant and (ii) the premium for such coverage related to the Vacated Premises shall be billed to and paid by Landlord. The
determination of the allocation of the premiums for such coverage between the Retained Premises and the Vacated Premises shall be made in a commercially reasonable and good faith manner considering the relative size, use and construction of the
Retained Premises and the Vacated Premises. Either Landlord or Tenant may request an explanation of the basis for such allocation of premiums from the insurance company. If either Landlord or Tenant is dissatisfied with such explanation, they may
request a review by an independent insurance broker or consultant, at the cost and expense of the dissatisfied party. If the independent insurance broker or consultant determines that the allocation of premiums does not reflect a commercially
reasonable and good faith allocation considering the relative size, use and construction of the Retained Premises and the Vacated Premises, Landlord and Tenant shall cause the insurance company to reallocate the premium in conformity with such
finding. 
 (iii)    Section 6.10 of the Lease shall be amended by addition the following sentence at
the end thereof: 
 Notwithstanding the foregoing provisions of this Section 6.10, commencing on and after the Conversion Date, the
deductible related to a casualty insurance claim shall be allocated between the Vacated Premises and the Retained Premises based on the relative percentage of the claim allocated to such portion of the Facility or such other allocation as may be
mutually agreed upon in writing by Landlord and Tenant. For example, if 90% of the claim amount was associated with damage to the Retained Premises and 10% of the claim amount was associated with damage to the Vacated Premises, 90% of any deductible
would be allocated to Tenant and the Retained Premises and 10% of the deductible would be allocated to Landlord and the Vacated Premises. 

(iv)    Section 7.1 of the Lease shall be amended by adding the following sentences at the end thereof:

 Landlord and Tenant acknowledge and agree that commencing on and after the Conversion Date (i) Tenant’s obligations under this
Section 7.1 shall only apply to the Leased Premises (and the portion of any Improvements 

  
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located thereon) as such are reduced by the removal of the Vacated Premises therefrom and (ii) in the event of damage to, or destruction of, any Improvements on the Vacated Premises, by fire
or other casualty, Landlord, at its sole cost and expense and in its sole discretion, may (A) repair, restore or rebuild the same (or such portions thereof as Landlord may determine, in its sole discretion) to the quality and condition existing
immediately prior to such event of damage of destruction or (B) not repair or restore or rebuild the same, in which case, Landlord shall at its cost and expense create a physical barrier between the portions of the Facility that constitute the
Vacated Premises and the Retained Premises using such materials and construction methods as Landlord shall propose, and which Tenant consents to, with such consent not being unreasonably withheld, conditioned, or delayed; provided, that, Landlord
shall not be obligated to repair or replace any Improvements located on the Retained Premises in connection with the creation of such physical barrier. 

(v)    Article VII shall be amended to add the following as Section 7.5 thereto: 

Section 7.5 Administration of Casualty Claims after the Conversion Date. After the Conversion Date, in the event of
damage to, or destruction of, any Improvements on the Vacated Premises or Retained Premises, by fire or other casualty, the following provisions shall apply: 

(a)    Tenant shall be obligated to notify the applicable insurance company and make proof of loss. In the
event the insurance claim related to such damage to, or destruction of, by fire or other casualty, relates solely to the Vacated Premises, then (i) Tenant shall make such proof of loss on behalf of Landlord, and shall settle, adjust and
compromise the claims related thereto only as directed by Landlord in Landlord’s sole discretion, (ii) Tenant shall direct the insurance company to pay all insurance proceeds payable for such claim directly to Landlord, (iii) if
Tenant fails to make any such filings or settle, adjust or compromise the claims as directed by Landlord, then Landlord may, but shall not be obligated to, file any such notices, proof of claims and settle, adjust or compromise such claims. 

(b)    In the event the insurance claim related to such damage to, or destruction of, by fire or other
casualty, relates solely to the Retained Premises, then Tenant shall make such proof of loss, and shall settle, adjust and compromise the claims related thereto as Tenant may determine; provided, that the foregoing does not relieve Tenant of any of
its other obligations hereunder after a casualty, including, but not limited to, Sections 7.1 and 7.3. 

(c)    In the event the insurance claim related to such damage to, or destruction of, by fire or other
casualty, relates to both the Vacated Premises and the Retained Premises, then (i) Tenant and Landlord shall 

  
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mutually agree on the proof of loss; (ii) Tenant and Landlord must mutually agree on the terms of any settlement, adjustment or compromise of the claims related thereto, including, but not
limited to the allocation of any proceeds between the Retained Premises and the Vacated Premises, (iii) Tenant shall direct the insurance company to pay the insurance proceeds allocated to the Vacated Premises directly to Landlord; and
(iv) Landlord shall direct the insurance company to pay the insurance proceeds allocated to the Retained Premises directly to Tenant. The foregoing does not relieve Tenant of any of its other obligations hereunder after a casualty, including,
but not limited to, Sections 7.1 and 7.3. In connection with the allocation of insurance proceeds under this Subsection 7.5(c), the allocation shall be based on the estimate of the cost of repair or reconstruction of the damaged Improvements located
in the Retained Premises and the Vacated Premises (with the allocation of deductibles addressed by Section 6.10). If the parties cannot agree on the relative costs of such repair or reconstruction of the damaged Improvements as between those
located in the Retained Premises and the Vacated Premises, then either party may request a review and a determination by an independent insurance casualty claims adjuster, the cost and expense of which shall be shared equally by each party. Once the
independent insurance casualty claims adjuster determines the relative costs of such repair and reconstruction as between the Retained Premises and the Vacated Premises, the insurance proceeds shall be allocated (with the allocation of deductibles
addressed by Section 6.10) on such basis.         
 (g)    Deletion of
Certain Lease Provisions. Sections 6.9, 9.4 and 11.3 of the Lease are hereby deleted and the following substituted therefor in each case after the Section number designation: “[Intentionally Deleted].” 

(h)    Conversion Alterations. Section 10.1 and the first sentence of Section 10.2 of the Lease are
hereby deleted and the following is substituted for Section 10.1 after the Section number designation: “[Intentionally Deleted].” 

(i)    Alterations. Section 10.4(a) of the Lease is hereby amended by inserting the following sentence therein
as the first sentence thereof: 
 “Subject to Landlord’s prior written consent, Tenant shall be permitted to make all alterations,
additions, build outs and improvements (hereinafter “Alterations”) on the Leased Premises.” 

(j)    Article XIII is hereby amended by adding the following as Section 13.4 at the end thereof: 

“Section 13.4 Shared Utilities. It is acknowledged that the Retained Premises and the Vacated Premises share
certain utilities services. On or before the Conversion Date, Landlord shall (at its sole cost and expense) arrange for all such utilities to be separately metered or to be submetered as between the Retained Premises and the Vacated Premises. To the
extent that 

  
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any such utilities services or the costs related thereto cannot practically be so separately metered or submetered, the costs and charges related thereto shall be reimbursed in part by Landlord
to Tenant as part of Shared Facilities Costs pursuant to clause (b) of Section 25.26 of this Lease.” 

(k)    Purchase Option Application to Vacated Premises. Article XXI is hereby amended by deleting the term
“Leased Premises” wherever it occurs therein and substituting the phrase “Leased Premises and any Vacated Premises” therefor. 

(l)    Purchase Option Title Exceptions. Section 21.5 is hereby amended by (i) deleting the word
“and” before clause (e) in the first sentence thereof and substituting a semicolon therefor and (ii) inserting the following at the end of the first sentence thereof immediately prior to the period “and (f) any leases
entered into by Landlord and Other Tenants”. 
 (m)    Cross Usage Rights. Article XXV is hereby amended by
adding the following as Sections 25.25 and 25.26 at the end thereof: 
 Section 25.25 Creation and Retention of Cross
Usage Rights. Landlord and Tenant acknowledge that after the occurrence of a Partial Surrender Date, the Landlord and Other Tenants shall need rights of ingress and egress to and over the Retained Premises (or the amended Leased Premises) for
the benefit of the Vacated Premises. Tenant hereby agrees with Landlord, for the benefit of Landlord, Other Tenants and each of their invitees, permittees and all others claiming by or through them that such parties shall have, and Landlord as fee
owner of the Land, Leased Premises, Retained Premises and Vacated Premises shall retain, the following rights (along with the right to allow others to use such rights) all without being in breach or violation of the covenant of quiet enjoyment or
the conveyance of the leasehold estate to Tenant in any manner: 
 (a)    a non-exclusive, right, license and privilege for (i) the right of passage and use, both pedestrian and automotive, over, across and upon any and all portions of the Leased Premises upon which roads and/or
driveways are now or hereafter located for the purpose of ingress to and egress from the Vacated Premises (and Tenant shall, at all times, provide reasonable and sufficient access for pedestrian and motor vehicle ingress and egress to and from the
Vacated Premises to Haley Drive), (ii) right to park on any and all portions of the Leased Premises upon which parking lots are now or hereafter located (and Tenant shall, at all times, provide an aggregate number of parking spaces which are
adequate and sufficient to serve the Facility and all other buildings and improvements located thereon from time to time and which comply with the requirements of all applicable building or zoning codes of all governmental authorities with
jurisdiction over the Leased Premises and Vacated Premises; provided that if additional parking lots or spaces are constructed due to an Other Tenant to maintain such compliance, the costs thereof shall be Shared Facilities Costs), (iii) the right
to construct, maintain, operate, use and locate utilities, including, but 

  
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not limited to, electrical lines, gas lines, water lines, sewer lines, cable television lines and telephone lines across and under the Leased Premises for the purpose of providing utility
services, to and from the Vacated Premises as mutually agreed upon by Landlord and Tenant (such mutual approvals not to be unreasonably withheld or delayed), (iv) the right to use all storm and surface drainage pipes, conduits, basins, excavations,
and other improvements now or hereafter located on the Leased Premises for the drainage of water from the Vacated Premises across or through the Leased Premises (and Tenant shall, at all times, provide a commercially reasonable and sufficient
drainage system approved by the appropriate governmental authorities for the drainage of water from the Vacated Premises across or through the Leased Premises to a publicly dedicated storm sewer, a retention pond or other reasonable infrastructure
for the handling of water runoff); (v) the right of passage and use, over, across and upon any and all portions of the Leased Premises upon which railroad tracks and associated infrastructure of the passage of railcars are now or hereafter located
for the purpose of ingress to and egress from the Vacated Premises to Norfolk Southern rail line; (vi) the right of pedestrian passage and use over, across and upon any and all portions of the Leased Premises designated in Exhibit C as
“Pedestrian Easement” for the purpose of ingress to and egress from the Vacated Premises designated as “Open Space” in Exhibit C to the portions of the Leased Premises designated in Exhibit C as “Common Area” and from
any portion of the Vacated Premises to any other portion of the Vacated Premises that is not contiguous; and (vii) the right of usage of restrooms, elevators, data rooms and other amenities located in the portions of the Leased Premises
designated in Exhibit C as “Common Area.” Except as set forth in Section 25.25(c) or Exhibit D, the foregoing rights of Landlord, the Other Tenants and their respective invitees and permittees with respect to the usage of the areas of
the Leased Premises located outside the Facility are anticipated and intended to be limited to the areas described as “Common use areas” in Exhibit D. Tenant, to the extent otherwise permitted by the terms of this Lease and in conformity
with the other terms and conditions imposed by this Lease in connection with such activities, retains the right to, and Landlord, with the prior consent of Tenant (which consent shall not be unreasonably withheld, conditioned or delayed) shall have
the right to, relocate any of the utilities, and the person undertaking such relocation shall pay all the costs thereof; provided; however, that such relocation shall not materially interfere with any existing or planned construction and shall
conform to all applicable governmental requirements. Tenant, to the extent otherwise permitted by the terms of this Lease and in conformity with the other terms and conditions imposed by this Lease in connection with such activities, shall also have
the right to relocate any of the roads, driveways or walkways that are now or may hereafter provide ingress and egress to the Vacated Premises as long as such relocated means of ingress and egress is not a materially less convenient means of ingress
and egress to a publicly dedicated right of way via the 

  
 12 

 
Leased Premises and during such relocation a sufficient means of such ingress and egress is continuously provided. Tenant, to the extent otherwise permitted by the terms of this Lease and in
conformity with the other terms and conditions imposed by this Lease in connection with such activities, shall also have the right to relocate any of the storm and surface drainage pipes, conduits, basins, excavations, and other improvements now or
hereafter located on the Leased Premises for the drainage of water from the Vacated Premises across or through the Leased Premises to a publicly dedicated storm sewer, a retention pond or other reasonable infrastructure for the handling of water
runoff as long as such relocated drainage system is a commercially reasonable and sufficient drainage system approved by the appropriate governmental authorities for the drainage of water from the Vacated Premises across or through the Leased
Premises to a publicly dedicated storm sewer, a retention pond or other reasonable infrastructure for the handling of water runoff and during such relocation suitable drainage is continuously provided. After the Partial Surrender Date, Tenant shall
not use the areas of the Leased Premises located outside the Facility described as “Common use areas” in Exhibit D for storage of materials of Tenant. The intention of the foregoing grants is to place a general right of usage of the
ingress, egress, utility and drainage infrastructure of the Leased Premises for the purposes stated above on the Leased Premises, subject to the limitations that as long as any proposed use of the Leased Premises by Tenant will not interfere with
the enjoyment of the usage rights herein reserved and granted for the benefit of the Landlord, Other Tenants and each of their invitees, permittees and all others claiming by or through them, and subject to all other limitations, restrictions and
other terms and conditions imposed on the use of the Leased Premises by Tenant under this Lease, Tenant has the right to use and enjoy all portions of the Leased Premises. 

(b)    In addition to the Tenant’s other obligations of maintenance provided for in this Lease, the
Tenant shall at all times have a duty to maintain the Leased Premises in a manner that will enable the Landlord, Other Tenants and each of their invitees, permittees and all others claiming by or through them, full use of the rights and access
provided under this Section 25.25, which duty shall include, without limitation, an obligation to (i) repair and maintain the roads, driveways, parking spaces, and parking areas, (ii) remove all debris, (iii) clean and maintain
the Leased Premises and (iv) perform all other acts necessary to enable the Landlord, Other Tenants and each of their invitees, permittees and all others claiming by or through them to have the benefit of the access and usage rights provided
under this Section 25.25. If Tenant fails to perform its obligations to maintain and repair as aforesaid within 30 days after receipt of written notice from Landlord of the condition requiring maintenance and repair, Landlord may perform such
maintenance and repair, and Landlord (in addition to any other rights of access to the Leased Premises provided for in this Lease) is granted the right to enter on, over and across the Leased Premises from time to time as may be reasonably necessary
to effectuate such maintenance and repair. Upon demand, Tenant shall reimburse Landlord all reasonable costs and expenses incurred by Landlord in connection with such maintenance and repair. 

  
 13 

 (c)    Tenant shall coordinate and manage the use of the
railroad tracks and associated infrastructure located upon Leased Premises among Tenant, Landlord and Other Tenants; provided, however, that Tenant shall not act in a manner designed to frustrate the ability of Landlord and Other Tenants from having
access to and use of such railroad tracks and associated infrastructure. All parties shall reasonably cooperate with each other in the scheduling of the use thereof. To the extent that Tenant incurs costs for the movement of railcars for Other
Tenants, Tenant may bill such Other Tenant directly for reimbursement of Tenant’s actual costs, provided, that, Tenant shall provide an estimate of such costs before such costs are incurred. 

(d)    This Section 25.25 is not intended, and shall not be construed, to dedicate any easements to
the general public or to grant to the general public any rights whatsoever. 
 25.26    Shared Facilities.

 (a)    It is acknowledged that the Retained Premises is in part located in buildings and improvements
which also contain the Vacated Premises, and that Tenant has granted to Landlord certain cross-usage rights under Section 25.25 of the Lease (the exterior and structural elements of said buildings and improvements and the railroad tracks,
roadways and other areas affected by said cross-usage rights being herein collectively, the “Shared Facilities”). Notwithstanding any other provisions of this Lease, Tenant shall perform the following obligations for the entirety of the
Shared Facilities as if the entirety thereof were part of the Leased Premises: maintenance pursuant to Article 9 and Section 25.25 of the Lease, all pursuant to the terms and conditions of the Lease as if all of the Shared Facilities were part
of the Leased Premises, but recognizing that Tenant shall have no responsibility or obligation with respect to the interior of any improvements which are part of the Vacated Premises. 

(b)    In consideration of the performance of its obligations under clause (a) of this
Section 25.26, during such time as the Vacated Space (or any part thereof) shall be leased to an Other Tenant or Tenants (but only during such times), Landlord shall reimburse Tenant for Landlord’s Proportionate Share (as hereafter
defined) of all actual costs incurred by Tenant in the performance of said obligations with respect to the Shared Facilities (the “Shared Facilities Costs”). Shared Facilities Costs shall include, without limitation, ordinary and capital
costs for labor and materials, equipment costs, utility charges, costs of security, janitorial services, landscaping and pest control and management and accounting fees and all other costs related thereto. Landlord’s Proportionate Share shall
be 

  
 14 

 
forty percent (40%) times the percentage of the Vacated Premises that is leased to an Other Tenant or Tenants from time to time and shall be equitably adjusted if the square footage of floor
space in the Vacated Premises or Retained Premises shall be increased or decreased from time to time. For example, if fifty percent of the Vacated Premises is leased to an Other Tenant, then the Landlord’s Proportionate Share shall be twenty
percent (20%) (i.e. forty percent (40%) times fifty percent (50%)). 
 (c)    Subject to the terms of
Section 25.26(b), Landlord shall pay to Tenant Landlord’s Proportionate Share of the Shared Facilities Costs as and when billed by Tenant (but no more often than monthly), such payments to be made within thirty (30) days after Tenant
submits to Landlord a statement therefor from time to time. Landlord shall cause Other Tenants to prepay to Landlord three months of Shared Facilities Costs in order to insure prompt payment thereof. 

(d)    Landlord may examine Tenant’s books and records relative to the Shared Facilities Costs from
time to time. Any request for examination must be made by written notice from Landlord to Tenant from time to time, but not more than twice in any calendar year. Tenant’s books and records pertaining to the immediately preceding twelve
(12) full calendar months shall be made available to Landlord for inspection at the Leased Premises within thirty (30) days after Tenant receives Landlord’s written notice. If Landlord fails to take written exception to any item of
Shared Facilities Costs disclosed in such inspection within sixty (60) days after such inspection, or any item of Shared Facilities Costs reflected in a statement submitted by Tenant within twenty-four (24) months after submission of such
statement, Landlord shall be deemed to have accepted such statement and all such items and waived any further audit right with respect thereto. If Landlord takes written exception to an item of Shared Facilities Costs within the applicable period
and such exception is not resolved by Tenant and Landlord within twenty (20) days after Landlord’s notice taking exception, Tenant shall submit the dispute to an independent certified public accounting firm selected by Tenant and Landlord.
If Landlord and Tenant are unable to agree on an independent certified public accounting firm, Landlord may select one of the five (5) largest national certified public accounting firms for such purpose. Within sixty (60) days following
its selection, the selected accounting firm shall prepare and submit to Tenant and Landlord a certificate as to whether the exception is proper and the amount owed by or to Tenant, which determination shall be final and conclusive. If it is found
that Landlord has overpaid any amount required hereunder, Tenant shall refund such overpayment to Landlord within thirty (30) days thereafter. If it is determined that the amount of Shared Facilities Costs or Landlord’s Proportionate Share
thereof, as set forth in any statement, exceeded the amount which Landlord was obligated to pay in respect thereof, (i) by three percent (3%) or more, Tenant shall bear all costs of Landlord’s accountant or other reviewing entity and of
such certification, and (ii) by less than three percent (3%), Landlord shall bear all costs of Landlord’s accountant or other reviewing entity and such certification. 

  
 15 

 (n)    Exhibits. The Lease is hereby amended by adding the
Exhibits and Schedule attached hereto as Exhibits A-1, A-2, C and D and Schedule 1.6 to the end of the Lease and replacing the current such Exhibit, if applicable. 

3.    Notice. Landlord and Tenant hereby confirm that the following addresses for Notice are substituted for the
addresses for Notice set forth in Section 25.3 of the Lease: 
  

	 	If to Landlord:	 The Teachers’ Retirement Systems of Alabama 

	 	    	 201 South Union Street 

	 	    	 Montgomery, Alabama 36130 

	 	    	 Attn: M. Hunter Harrell 

 

	 	and	 Employees’ Retirement System of Alabama 

	 	    	 201 South Union Street 

	 	    	 Montgomery, Alabama 36130 

	 	    	 Attn: M. Hunter Harrell 

 

	 	With a copy to:	 Maynard, Cooper & Gale, P.C. 

	 	    	 1901 Sixth Avenue North 

	 	    	 2400 Regions/Harbert Plaza 

	 	    	 Birmingham, AL 35203-52618 

	 	    	 Attn: Randall H. Morrow 

 

	 	If to Tenant:	 FREIGHTCAR ALABAMA, LLC 

	 	    	 c/o FreightCar America, Inc. 

	 	    	 2 North Riverside Plaza, Suite 1300, Chicago, 

	 	    	 Illinois 60606 

	 	    	 Attn: 

  

	 	and	 FreightCar America, Inc. 

	 	    	 Two North Riverside Plaza 

	 	    	 Suite 1300, Chicago, Illinois 60606 

	 	    	 Attn: 

  

	 	with a copy to:	 Kelley Drye & Warren LLP 

	 	    	 333 West Wacker Drive 

	 	    	 26th Floor 

	 	    	 Chicago, IL 60606 

	 	    	 Attention: Andrew Pillsbury, Esq. 

4.    Landlord’s Right to Sell. Landlord has and will continue to have the right, at any time,
to sell, in whole or in part, its interest in the Leased Premises, the Vacated Premises, the Retained Premises. In the event of the sale or other transfer of Landlord’s interest in the Leased 

  
 16 

 
Premises, upon the assumption by Landlord’s assignee of the obligations of Landlord under this Lease, Landlord shall be released from all liability and obligations hereunder arising out of
any act, occurrence or omission relating to the Leased Premises or the Lease occurring after the consummation of such sale or transfer. Tenant agrees to attorn to any successor, assignee, mortgagee or ground lessor of Landlord. 

5.    Brokerage. Tenant and Landlord each represent and warrant to the other party that they have had no dealings
with any broker or agent in connection with the Lease or this Second Amendment. Tenant covenants to pay, hold harmless, indemnify and defend the Landlord from and against any and all costs, expenses or liability (including, without limitation,
reasonable attorney’s fees incurred by the other party) for any compensation, commissions and charges claimed by any broker or agent with respect to the Lease or this Second Amendment, or the negotiation thereof. 

6.    Full Force and Effect. Except as expressly modified herein, all of the terms, covenants and conditions of the
Lease remain in full force and effect. 
 7    Guarantor Consent and Acknowledgment. Guarantor hereby consents
and agrees to terms of this Second Amendment and the Lease as amended hereby. Guarantor further acknowledges that their obligations as guarantor of the Lease under the Guaranty have not been terminated, and are and shall remain in full force and
effect in accordance with the terms of the Guaranty. 

  
 17 

 IN WITNESS WHEREOF, Owner and Tenant have signed and sealed this Amendment as of the day and
year first above written. 
  

									
	 LANDLORD:
	 		 	 TENANT:

			
	TEACHERS’ RETIREMENT SYSTEMS OF ALABAMA, an instrumentality of the State of Alabama	 		 	FREIGHTCAR ALABAMA, LLC, a Delaware limited liability company
					
	By:	 	/s/ David G. Bronner	 		 	By:	 	/s/ Matthew S. Kohnke
		 	     Name: David G. Bronner	 		 		 	     Name: Matthew S. Kohnke
		 	     Title: CEO	 		 		 	     Title: CEO

  

									
		 		 	GUARANTOR:
			
	EMPLOYEES’ RETIREMENT SYSTEM OF ALABAMA, an instrumentality of the State of Alabama	 		 	FREIGHTCAR AMERICA, INC. a Delaware corporation
					
	By:	 	/s/ David G. Bronner	 		 	By:	 	/s/ Matthew S. Kohnke
		 	     Name: David G. Bronner	 		 		 	     Name: Matthew S. Kohnke
		 	     Title: CEO	 		 		 	     Title: CEO

  
 18 

 State of Alabama        ) 

                          
          )    ss.: 
 County of Montgomery) 

I, Emily Eaton, a notary (name and style of officer) in and for said County in said State, hereby certify that David G. Bronner whose name as
CEO of Teachers’ Retirement System of Alabama, is signed to the foregoing instrument, and who is known to me, acknowledged before me on this day that, being informed of the contents of the instrument, he or she, as such officer and with full
authority, executed the same voluntarily for and as the act of said entity. 
 Given under my hand this 26 day of February, 2019 

 

	
	/s/ Emily Eaton
	 Notary Public, Montgomery County, Alabama
 My
Commission Expires: 10-11-2021

  
 19 

 State of Alabama        ) 

                          
          )    ss.: 
 County of Montgomery) 

I, Emily Eaton, a notary (name and style of officer) in and for said County in said State, hereby certify that David G. Bronner whose name as
CEO of Employees’ Retirement System of Alabama, is signed to the foregoing instrument, and who is known to me, acknowledged before me on this day that, being informed of the contents of the instrument, he or she, as such officer and with full
authority, executed the same voluntarily for and as the act of said entity. 
 Given under my hand this 26 day of February, 2019 

 

	
	/s/ Emily Eaton
	 Notary Public, Montgomery County, Alabama
 My
Commission Expires: 10-11-2021

  
 20 

 State
of                        ) 

                          
          )    ss.: 
 County
of                    ) 
 I, Caroline
Germeraad, a notary public (name and style of officer) in and for said County in said State, hereby certify that Matthew Kohnke whose name as Chief Financial Officer of FreightCar Alabama, LLC, is signed to the foregoing instrument, and who is known
to me, acknowledged before me on this day that, being informed of the contents of the instrument, he or she, as such officer and with full authority, executed the same voluntarily for and as the act of said limited liability company. 

Given under my hand this 26th day of February, 2019 

 

	
	/s/ Caroline Germeraad
	 Notary Public, State of IL County, Cook
 My
Commission Expires: Nov 3, 2021

 State
of                        ) 

                          
          )    ss.: 
 County
of                    ) 
 I, Caroline
Germeraad, a notary public (name and style of officer) in and for said County in said State, hereby certify that Matthew Kohnke whose name as Chief Financial Officer of FreightCar America, Inc., is signed to the foregoing instrument, and who is
known to me, acknowledged before me on this day that, being informed of the contents of the instrument, he or she, as such officer and with full authority, executed the same voluntarily for and as the act of said limited liability company. 

Given under my hand this 26th day of February, 2019 

 

	
	/s/ Caroline Germeraad
	 Notary Public, State of IL County, Cook
 My
Commission Expires: Nov 3, 2021

  
 21Document

Exhibit 10.2

ENPRO INDUSTRIES, INC. MANAGEMENT STOCK PURCHASE DEFERRAL PLAN
(AS AMENDED AND RESTATED EFFECTIVE MARCH 25, 2019)

EnPro Industries, Inc. Management Stock Purchase Deferral Plan 
(AS AMENDED AND RESTATED EFFECTIVE MARCH 25, 2019) 

Table of Contents
	
				
	 
	 
	Page
	

	ARTICLE I DEFINITIONS
	2
	

	1.1
	Account
	2
	

	1.2
	Beneficiary
	2
	

	1.3
	Board
	2
	

	1.4
	Change in Control
	2
	

	1.5
	Code
	3
	

	1.6
	Committee
	4
	

	1.7
	Common Stock
	4
	

	1.8
	Company
	4
	

	1.9
	Covered Incentive Award
	4
	

	1.10
	Effective Date
	4
	

	1.11
	Eligible Employee
	4
	

	1.12
	Employee
	4
	

	1.13
	Exchange Act
	4
	

	1.14
	Fair Market Value
	4
	

	1.15
	Participant
	4
	

	1.16
	Participating Employer
	4
	

	1.17
	Payment Sub-Account
	4
	

	1.18
	Plan
	4
	

	1.19
	Plan Year
	5
	

	1.20
	Potential Change in Control
	5
	

	1.21
	Restatement Effective Date
	5
	

	1.22
	Restricted Share Units
	5
	

	1.23
	Separation from Service
	5
	

	1.24
	Stock Plan
	5
	

	1.25
	Stock Unit
	5
	

	 
	 
	 

	ARTICLE II PLAN ADMINISTRATION
	6
	

	2.1
	Committee
	6
	

	 
	 
	 

	ARTICLE III ELIGIBILITY AND PARTICIPATION
	7
	

	3.1
	Eligibility
	7
	

	3.2
	Deferral Elections
	7
	

	3.3
	Matching Awards of Restricted Share Units
	8
	

	3.4
	Account Adjustments
	9
	

	3.5
	Account Payments
	10
	

	3.6
	Withdrawals on Account of an Unforeseeable Emergency
	12
	

i

	
				
	 
	 
	Page
	

	ARTICLE IV AMENDMENT AND TERMINATION
	13
	

	4.1
	Amendment or Termination of Plan
	13
	

	 
	 
	 

	ARTICLE V MISCELLANEOUS PROVISIONS
	14
	

	5.1
	Nature of Plan and Rights
	14
	

	5.2
	Change in Control Set Aside
	14
	

	5.3
	Spendthrift Provision
	14
	

	5.4
	Successors
	15
	

	5.5
	Employment Noncontractual
	15
	

	5.6
	Applicable Law
	15
	

	5.7
	Compliance with Code Section 409A
	15
	

	5.8
	Employees Based Outside the United States
	15
	

	5.9
	Claims Procedure
	16
	

ii

ENPRO INDUSTRIES, INC. MANAGEMENT STOCK PURCHASE DEFERRAL PLAN

Statement of Purpose

EnPro Industries, Inc. (the “Company”) has established the EnPro Industries, Inc. Management Stock Purchase Deferral Plan to provide Eligible Employees an opportunity to defer a portion of their Covered Incentive Awards to be credited as Stock Units and to receive from the Company a matching award of Restricted Share Units under the Stock Plan.  The Plan was originally adopted on October 29, 2012, and was subsequently amended to end future deferrals under the Plan for Covered Incentive Awards earned for periods from and after January 1, 2017.  This amendment and restatement of the Plan provides for the payment of Stock Units (after all tax withholdings) in the form of shares of Common Stock issued under the Stock Plan.  To the extent Stock Units are to be settled by payment in shares of Common Stock, the Stock Units shall be considered an “Other Award” under the Stock Plan.  It is the intent of the Company that amounts deferred under the Plan by a Participant shall not be taxable to the Participant for income tax purposes until the time they are actually received by the Participant.  The provisions of the Plan shall be construed and interpreted to give effect to this intent.
NOW, THEREFORE, for the purposes aforesaid, the Company hereby amends and restates the Plan effective as of March 25, 2019 (the “Restatement Effective Date”) as follows:

ARTICLE 1
DEFINITIONS
Unless the context clearly indicates otherwise, when used in the Plan:
		
	1.1
	Account means the account maintained in Stock Units on the books of the Company to record a Participant’s interest under the Plan attributable to any amounts deferred by the Participant pursuant to Section 3.2, as adjusted from time to time pursuant to the terms of the Plan.  The Account shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her Beneficiary, pursuant to the Plan.  Each Account shall be divided into one or more Payment Sub-Accounts to facilitate the administration of payment elections made under Section 3.5. 

		
	1.2
	Beneficiary means any person or trust designated by a Participant in accordance with procedures adopted by the Committee to receive the Participant’s Account in the event of the Participant’s death. If the Participant does not designate a Beneficiary, the Participant’s Beneficiary is his or her spouse, or if not then living, his or her estate.

		
	1.3
	Board means the Board of Directors of the Company.

		
	1.4
	Change in Control means any of the following events:

(a)     The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act), of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (1) the then outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (2) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that the following acquisitions shall not constitute a Change in Control:  (A) any acquisition directly from the Company (other than by exercise of a conversion privilege), (B) any acquisition by the Company or any of its subsidiaries, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any of its subsidiaries or (D) any acquisition by any company with respect to which, following such acquisition, more than 70% of, respectively, the then outstanding shares of common stock of such company and the combined voting power of the then outstanding voting securities of such company entitled to vote generally in the election of directors is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such acquisition in substantially the same proportions as their ownership, solely in their capacity as shareholders of the Company, immediately prior to such acquisition, of 

2

the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be; or
(b)     individuals who, as of the Effective Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest; or
(c)     consummation of a reorganization, merger or consolidation, in each case, with respect to which all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such reorganization, merger or consolidation, do not, following such reorganization, merger or consolidation, beneficially own, directly or indirectly, solely in their capacity as shareholders of the Company, more than 70% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the company resulting from such reorganization, merger or consolidation in substantially the same proportions as their ownership, immediately prior to such reorganization, merger or consolidation of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be; or
(d)     consummation of (1) a complete liquidation or dissolution of the Company or (2) a sale or other disposition of all or substantially all of the assets of the Company, other than to a company, with respect to which following such sale or other disposition, more than 70% of, respectively, the then outstanding shares of common stock of such company and the combined voting power of the then outstanding voting securities of such company entitled to vote generally in the election of directors is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities, solely in their capacity as shareholders of the Company, who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such sale or other disposition in substantially the same proportion as their ownership, immediately prior to such sale or other disposition, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be.  
		
	1.5
	Code means the Internal Revenue Code of 1986, as amended. References to the Code shall include the valid and binding governmental regulations, court decisions and other regulatory and judicial authority issued or rendered thereunder.

3

		
	1.6
	Committee means the Compensation and Human Resources Committee of the Board. 

		
	1.7
	Common Stock means the common stock of the Company.

		
	1.8
	Company means EnPro Industries, Inc. and includes any successor thereto.

		
	1.9
	Covered Incentive Award means, with respect to a Participant, any incentive award payable to such Participant pursuant to any incentive compensation plan of the Company or any Participating Employer approved for purposes of the Plan by the Committee from time to time. Covered Incentive Awards may be payable annually, quarterly, or on such other basis as provided by the applicable incentive plan. 

		
	1.10
	Effective Date means October 29, 2012, the date the Plan was originally adopted.  

		
	1.11
	Eligible Employee means an Employee designated as an Eligible Employee in accordance with Section 3.1. Eligible Employees are eligible to defer Covered Incentive Awards in accordance with Section 3.2. 

		
	1.12
	Employee means an individual employed by a Participating Employer.

		
	1.13
	Exchange Act means the Securities Exchange Act of 1934. 

		
	1.14
	Fair Market Value of a share of Common Stock means the closing price of the Common Stock on the relevant date (as of 4:00 P.M.  Eastern Standard Time) as reported on the New York Stock Exchange — Composite Transactions listing (or similar report), or, if no sale was made on such date, then on the next preceding day on which such a sale was made.

		
	1.15
	Participant means any Eligible Employee who makes an election to participate in accordance with Section 3.2. Participant shall also include any former Eligible Employee who continues to have an Account maintained under the Plan.

		
	1.16
	Participating Employer means (a) the Company and (b) any other entity affiliated with the Company and designated as a participating employer under this Plan from time to time by the Committee, and their respective successors and assigns.  As of the effective date of the Plan, the Participating Employers are as set forth on Exhibit A attached to the Plan.  Exhibit A may be updated from time to time by the Committee. 

		
	1.17
	Payment Sub-Account means a portion of a Participant’s Account established by the Committee to facilitate the administration of distributions under the Plan.  A separate Payment Sub-Account shall be established for a Participant for each separate Plan Year that deferrals are made under Section 3.2, as adjusted from time to time pursuant to the terms of the Plan.

		
	1.18
	Plan means the EnPro Industries, Inc. Management Stock Purchase Deferral Plan, as the same may be amended from time to time.

4

		
	1.19
	Plan Year means the twelve‐month period commencing January 1 and ending the following December 31. 

		
	1.20
	Potential Change in Control means any of the following events:

(a)     the Company entering into an agreement, the consummation of which would result in the occurrence of a Change in Control;
(b)     the Company or any individual, entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) publicly announcing an intention to take actions, which if consummated, would constitute a Change in Control; or
(c)     the Board in its sole and exclusive discretion determining, based on facts and circumstances, that there is a possible Change in Control. 
		
	1.21
	Restatement Effective Date has the meaning set forth in the preamble to the Plan. 

		
	1.22
	Restricted Share Units means an award of restricted share units under the Stock Plan as described in Section 3.3. 

		
	1.23
	Separation from Service means a Participant’s “separation from service” with the Participating Employers within the meaning of Section 409A of the Code and any related administrative policies of the Participating Employers.

		
	1.24
	Stock Plan means the EnPro Industries, Inc. 2002 Equity Compensation Plan, as the same may be amended from time to time, or any successor plan thereto. 

		
	1.25
	Stock Unit means a unit having a value as of a given date equal to the Fair Market Value of one (1) share of Common Stock on such date.

5

ARTICLE II

PLAN ADMINISTRATION

		
	2.1
	Committee

The Plan shall be administered by the Committee. The Committee shall be empowered to interpret the provisions of the Plan and to perform and exercise all of the duties and powers granted to it under the terms of the Plan by action of a majority of its members in office from time to time. The Committee may adopt such rules and regulations for the administration of the Plan as are consistent with the terms hereof and shall keep adequate records of its proceedings and acts. All interpretations and decisions made (both as to law and fact) and other action taken by the Committee with respect to the Plan shall be conclusive and binding upon all parties having or claiming to have an interest under the Plan. Not in limitation of the foregoing, the Committee shall have the discretion to decide any factual or interpretative issues that may arise in connection with its administration of the Plan (including without limitation any determination as to claims for benefits hereunder), and the Committee’s exercise of such discretion shall be conclusive and binding on all affected parties as long as it is not arbitrary or capricious. The Committee may delegate any of its duties and powers hereunder to the extent permitted by applicable law.

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ARTICLE III
ELIGIBILITY AND PARTICIPATION
		
	3.1
	Eligibility

The Committee shall designate which Employees shall be Eligible Employees for a given Plan Year. An Employee designated as an Eligible Employee with respect to one Plan Year need not be designated as an Eligible Employee for any subsequent Plan Year. The Plan is intended to limit eligibility to a “select group of management or highly compensated employees” within the meaning of the Employee Retirement Income Security Act of 1974, as amended.  Notwithstanding any provision of the Plan to the contrary, no Employee shall become a Participant for any Plan Year beginning on or after January 1, 2017, and no deferral elections shall be permitted under the Plan for any Plan Year beginning on or after January 1, 2017.  Each Employee who had become a Participant for any Plan Year beginning before January 1, 2017 shall continue to participate in the Plan to the extent provided herein.
		
	3.2
	Deferral Elections

(a)    Time and Form of Elections:  Elections to defer an Eligible Employee's Covered Incentive Awards for a Plan Year must be made on such form and pursuant to such procedures as the Committee may establish from time to time and shall be irrevocable for the Plan Year as of December 31 of the preceding year.  The first Plan Year for which deferral elections may be made is 2013.  The election must be made prior to the start of the applicable Plan Year; provided, however, that an individual who (i) is not otherwise eligible to participate in a nonqualified deferred compensation plan that is required to be aggregated with the Plan pursuant to Treasury Regulation section 1.409A-1(c)(2) and (ii) first becomes an Eligible Employee after the start of a Plan Year may, to the extent permitted by the Committee, make such deferral election within 30 days after first becoming an Eligible Employee solely with regard to the portion of any Covered Incentive Awards for such Plan Year earned for services performed after such deferral election in accordance with the requirements of Section 409A of the Code.  An election to defer for a Plan Year shall continue in effect for each subsequent Plan Year unless revoked or modified by the Participant in accordance with procedures established by the Committee; provided, however, that with respect to any Covered Incentive Awards for any subsequent Plan Year, the election to defer becomes irrevocable no later than December 31 of the Plan Year preceding the Plan Year for which the Covered Incentive Award is earned.  Notwithstanding any provision herein to the contrary, the Committee, in its discretion, may proportionately reduce the deferral rates for all Participants who have made deferral elections for a Plan Year, provided such reduction is made no later than December 31 of the preceding Plan Year.
(b)    Deferral Elections: An Eligible Employee may elect to defer up to 50% of the Eligible Employee's Covered Incentive Awards for the Plan Year. 

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(c)    Accounts:  A Participating Employer shall establish and maintain on its books an Account for each Eligible Employee employed by such Participating Employer who elects to defer the receipt of any amount pursuant to this Section 3.2(c).  Such Account shall be designated by the name of the Eligible Employee for whom it is established. The amount to be deferred under this Section 3.2(c) for a given Plan Year shall be credited to a separate Payment Sub-Account within the Eligible Employee’s Account, designated by the applicable Plan Year.  Such credit to the Payment Sub-Account shall be made as of the date such amount would have otherwise been paid to the Participant but for the Participant’s deferral election.  The amount credited to each Payment Sub-Account shall be in the form of Stock Units, with the number of Stock Units (whole and fractional) equal to the applicable dollar amount that is being deferred divided by the Fair Market Value of a share of Common Stock on the applicable deferral date.
		
	3.3
	Matching Awards of Restricted Share Units

(a)    Matching Awards: If a Participant makes a deferral election for a Plan Year, the Company shall make a matching award of Restricted Share Units to the Participant under the Stock Plan with the following terms, subject to the prior approval of the Committee:
		
	(i)
	The grant date shall be the applicable deferral date on which Stock Units are determined and credited to the Participant’s Payment Sub-Account, or such later date as determined by the Committee;

		
	(ii)
	The number of Restricted Share Units awarded shall equal the number of whole Stock Units credited to the Participant’s applicable Payment Sub-Account as of the applicable deferral date, divided by four, and rounded up to the next whole share; provided, however, that the Committee may, in its discretion, determine to proportionately reduce the number of Restricted Share Units being awarded to all Participants receiving such awards as of a given grant date or to make no such awards at all;

		
	(iii)
	The Restricted Share Units shall become earned and vested on the third anniversary of the grant date;

		
	(iv)
	Any unvested Restricted Share Units shall be canceled and forfeited if the Participant has a Separation from Service prior to the applicable vesting date; provided, however, that the Restricted Share Units shall become immediately vested in the event of the Participant’s Separation from Service as a result of: (i) the Participant’s death or (ii) the Participant’s becoming totally disabled under the Company’s Long-Term Disability Plan, and provided further that in the event of the Participant’s Separation from Service as a result of the 

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Participant’s retirement under the Company’s Salaried Pension Plan (or a similar pension plan maintained by a subsidiary that is the Participant’s employer) the Restricted Share Units shall become immediately vested upon such retirement in the following amounts: one-third of the Restricted Share Units will become vested if the Participant’s retirement occurs on or after the first anniversary of the grant date but before the second anniversary of the grant date, and two-thirds of the Restricted Share Units will become vested if the Participant’s retirement occurs on or after the second anniversary of the grant date but before the third anniversary of the grant date;

		
	(v)
	Any vested Restricted Share Units for a Participant shall be payable on the same date that the related Payment Sub-Account is payable to the Participant in accordance with the provisions of Section 3.5.  Payment of vested Restricted Share Units shall be made by delivery of one share of Common Stock for each vested Restricted Share Unit being paid, plus a cash payment equal to the aggregate amount of cash dividends paid with respect to one share of Common Stock for each vested Restricted Share Unit being paid from the grant date to and including the applicable payment date.

(b)    Award Agreements Control: Each Restricted Share Unit award under this Section 3.3 shall be made in accordance with the terms of the Stock Plan and shall be evidenced by an award agreement, which in all events shall be the governing instrument for such award, and in that regard, in case of any conflict between the terms of this Plan and the award agreement, the award agreement shall control.  
		
	3.4
	Account Adjustments

For periods prior to July 26, 2016, each Payment Sub-Account shall be credited with additional whole or fractional Stock Units for cash dividends paid on the Common Stock based on the number of Stock Units in the Payment Sub-Account on the applicable dividend record date and calculated based on the Fair Market Value of the Common Stock on the applicable dividend payment date.  Notwithstanding any provision of the Plan to the contrary, effective July 26, 2016 and thereafter, each Payment Sub-Account shall be credited with additional cash for the cash dividends paid on the Common Stock based on the number of Stock Units in the Payment Sub-Account on the applicable dividend record date. This additional cash credited to the Payment Sub-Account will accrue interest at the annual rate of 2%, compounded annually. Each Payment Sub-Account shall also be equitably adjusted as determined by the Committee in the event of any stock dividend, stock split or similar change in the capitalization of the Company.

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	3.5
	Account Payments

(a)    Payment Options: A Participant for a Plan Year shall elect from among the available payment options set forth in this Section 3.5(a) that shall apply to the Payment Sub-Account for such Plan Year.  A separate payment election shall be made with respect to each Payment Sub-Account.  The payment election shall be made coincident with the deferral elections under Section 3.2 for such Plan Year:
(i)    Lump Sum Payment Following Separation from Service.  The Participant’s Payment Sub-Account shall be payable following the Participant’s Separation from Service in a single payment.  Payment shall be made as soon as administratively practicable, but in no event more than 75 days, after Separation from Service.  
(ii)    Lump Sum Payment in Specified Year.  The Participant’s Account shall be payable at the earlier of (A) the calendar year elected by the Participant, to be no earlier than the fifth calendar year following the calendar year in which the Covered Incentive Award being deferred is otherwise payable (e.g., for a Covered Incentive Award earned for services in 2013 and payable in early 2014, the earliest calendar year for payment that could be elected would be 2019), or (B) the Participant’s Separation from Service, in either case in a single payment. Payment shall be made as soon as administratively practicable, but in no event more than 75 days, after the earlier of the first business day of the applicable calendar year or Separation from Service, as applicable.
Any election made under this Section 3.5(a) shall be made on such form, at such time and pursuant to such procedures as determined by the Committee in its sole discretion from time to time, provided that such election must become irrevocable no later than the date the related deferral election becomes irrevocable under Section 3.2.  For a Participant who does not yet have an election in effect under this Section 3.5(a) or for a Participant who fails to elect a payment option under this Section 3.5(a), the method of payment shall be a lump sum payment following Separation from Service under Section 3.5(a)(i).  
(b)    Amount of Payment: The amount of the single payment of a Participant’s Payment Sub-Account per the applicable payment method elected under Section 3.5(a) shall be determined as of a business day preceding payment under administrative procedures established by the Company equal to the aggregate Fair Market Value of the Stock Units then payable determined as of such business day. 
(c)    Subsequent Changes to Payment Elections: A Participant who previously elected payment of a Payment Sub-Account under Section 3.5(a)(ii) (i.e., Lump Sum Payment in a Specified Year) may change the specified year of payment with respect to such Payment Sub-Account only if (i) such election is made at least 12 months before the first day of the applicable calendar year of payment previously elected 

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by the Participant (e.g., if the applicable calendar year of payment previously elected by the Participant is 2019, the election under this Section 3.5(c) must be made by no later than December 31, 2017) and (ii) the new calendar year elected is at least 5 years after the applicable calendar year of payment previously elected by the Participant (e.g., if the applicable calendar year of payment previously elected by the Participant is 2019, the new calendar of payment elected under this Section 3.5(c) must be no earlier than 2024).  The Payment Sub-Account shall continue to be subject to the requirement under Section 3.5(a)(ii) that it be paid upon an earlier Separation from Service.
(d)    Special Provisions for “Specified Employees”: Notwithstanding any provision herein to the contrary, to the extent applicable, in no event shall any payment hereunder payable on account of a Separation from Service be made to a “specified employee” within the meaning of Section 409A of the Code and the Company’s administrative policies, if any, earlier than six months after the date of the Participant’s Separation from Service, except in connection with the Participant’s death.  In the event such delayed payment is required, the amount of the payment shall be based on the aggregate Fair Market Value of the Stock Units then payable determined as of a business day preceding the delayed payment date under administrative procedures established by the Company. 
(e)    Death: Notwithstanding any provision herein to the contrary, if a Participant dies before having been paid the entire balance of the Participant’s Account, the remaining unpaid balance of the Account shall be payable to the Participant’s Beneficiary in a single payment as soon as administratively practicable, but in no event more than 75 days, after the date of death.  The amount payable to the Beneficiary shall equal the aggregate Fair Market Value of the Stock Units then payable determined as of a business day preceding the payment date under administrative procedures established by the Company. 
(f)    : Notwithstanding any provisions herein to the contrary, from and after the Restatement Effective Date, payments of Stock Units shall be made, after all applicable tax withholdings, by issuance of one share of Common Stock for each whole Stock Unit then payable, or, if the Company so elects, by a cash payment in amount equal to the Fair Market Value of one share of Common Stock for each whole Stock Unit then payable, in either case with cash paid for any fractional share (plus any dividend equivalents accrued as cash, with interest, as provided in Section 3.4).  The shares of Common Stock so paid shall be issued from the Stock Plan.  In addition, in case of a withdrawal under Section 3.6 for an unforeseeable emergency, the Committee may determine that the form of payment shall be in cash rather than shares based on the need giving rise to the emergency.
(g)    Other Payment Provisions:  Any deferral or payment hereunder shall be subject to applicable payroll and withholding taxes. In the event any amount becomes payable under the provisions of the Plan to a Participant, Beneficiary or other person 

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who is a minor or an incompetent, whether or not declared incompetent by a court, such amount may be paid directly to the minor or incompetent person or to such person’s fiduciary (or attorney-in-fact in the case of an incompetent) as the Committee, in its sole discretion, may decide, and the Committee shall not be liable to any person for any such decision or any payment pursuant thereto.
		
	3.6
	Withdrawals on Account of an Unforeseeable Emergency

A Participant who is in active service of a Participating Employer may, in the Committee’s sole discretion, receive a refund of all or any part of the amounts previously credited to the Participant’s Account in the case of an “unforeseeable emergency.” A Participant requesting a payment pursuant to this Section 3.6 shall have the burden of proof of establishing, to the Committee’s satisfaction, the existence of such “unforeseeable emergency,” and the amount of the payment needed to satisfy the same. In that regard, the Participant shall provide the Committee with such financial data and information as the Committee may request. If the Committee determines that a payment should be made to a Participant under this Section 3.6 such payment shall be made within a reasonable time after the Committee’s determination of the existence of such “unforeseeable emergency” and the amount of payment so needed. The Committee may in its discretion establish the order in which amounts shall be withdrawn under this Section 3.6 from a Participant’s Payment Sub-Accounts. As used herein, the term “unforeseeable emergency” means a severe financial hardship to a Participant resulting from a sudden and unexpected illness or accident of the Participant or of a dependent of the Participant (as defined in Code Section 152, without regard to Sections 152(b)(1), (b)(2), and (d)(1)(B)), or loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. The circumstances that shall constitute an “unforeseeable emergency” shall depend upon the facts of each case, but, in any case, payment may not be made to the extent that such hardship is or may be relieved (i) through reimbursement or compensation by insurance or otherwise, or (ii) by liquidation of the Participant’s assets, to the extent the liquidation of such assets would not itself cause severe financial hardship. Examples of what are not considered to be “unforeseeable emergencies” include, without limitation, the need to send a Participant’s child to college or the purchase of a home. Withdrawals of amounts because of an “unforeseeable emergency” shall not exceed an amount reasonably needed to satisfy the emergency need.

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ARTICLE IV
AMENDMENT AND TERMINATION
		
	4.1
	Amendment or Termination of Plan

The Participating Employers reserve the right at any time, by action of the Committee, to amend in whole or in part any or all of the provisions of the Plan or to terminate the Plan; provided, however, that no amendment or termination may reduce the amount actually credited to a Participant’s Account on the date of the amendment or termination, or further defer the due dates for the payment of the amounts, without the consent of the affected Participant.  Notwithstanding any provision of the Plan to the contrary but only to the extent permitted by Section 409A of the Code, in connection with any termination of the Plan the Committee shall have the authority to cause the Accounts of all Participants (and Beneficiaries of any deceased Participants) to be paid in a single payment as of a date determined by the Committee or to otherwise accelerate the payment of all Accounts in such manner as the Committee determines in its discretion.

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ARTICLE V

MISCELLANEOUS PROVISIONS
		
	5.1
	Nature of Plan and Rights

The Plan is unfunded and intended to constitute an incentive and deferred compensation plan for a select group of officers and key management employees of the Participating Employers. If necessary to preserve the above intended plan status, the Committee, in its sole discretion, reserves the right to limit or reduce the number of actual Participants and otherwise to take any remedial or curative action that the Committee deems necessary or advisable. The Accounts established and maintained under the Plan by a Participating Employer are for accounting purposes only and shall not be deemed or construed to create a trust fund of any kind or to grant a property interest of any kind to any Participant, designated beneficiary or estate. The amounts credited by a Participating Employer to such Accounts are and for all purposes shall continue to be a part of the general assets of such Participating Employer, and to the extent that a Participant or Beneficiary acquires a right to receive payments from such Participating Employer pursuant to the Plan, such right shall be no greater than the right of any unsecured general creditor of such Participating Employer.
		
	5.2
	Change in Control Set Aside

To the extent that the Committee determines in its good faith that it will not result in income inclusion under Section 409A(b) of the Code, upon or following the occurrence of a Potential Change in Control, if so directed by the Board in its sole and exclusive discretion, the Company shall set aside in a grantor trust, either existing or to be established, such amount as may be determined by the Board not to exceed the projected benefit obligations under the Plan as of the anticipated date of the possible Change in Control, less any amounts previously set aside in a grantor trust to provide benefits under the Plan.
If a Change in Control does not occur within a reasonable time from the date such funds are set aside, the funds, adjusted for any gains or losses, shall revert to the Company.
		
	5.3
	Spendthrift Provision

No Account balance or other right or interest under the Plan of a Participant or Beneficiary may be assigned, transferred or alienated, in whole or in part, by the Participant or Beneficiary, either directly or by operation of law, and no such balance, right or interest shall be liable for or subject to any debt, obligation or liability of the Participant or Beneficiary. 

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	5.4
	Successors

The Plan shall be binding on each Participating Employer and their respective successors and assigns.
		
	5.5
	Employment Noncontractual

The establishment of the Plan shall not enlarge or otherwise affect the terms of any Employee’s employment with his or her Participating Employer, and such Participating Employer may terminate the employment of the Employee as freely and with the same effect as if the Plan had not been established.
		
	5.6
	Applicable Law

The Plan shall be governed and construed in accordance with the laws of the State of North Carolina, except to the extent such laws are preempted by the laws of the United States of America. 
		
	5.7
	Compliance with Code Section 409A

The Plan is intended to comply with Section 409A of the Code.  Notwithstanding any provision of the Plan to the contrary, the Plan shall be interpreted, operated and administered consistent with its intent.  Notwithstanding any provision of this Plan to the contrary, in the event that the Committee determines in good faith that any amounts payable under this Plan may not be either exempt from or compliant with Section 409A of the Code, the Committee shall adopt such amendments to this Plan or adopt other policies or procedures (including amendments, policies and procedures with retroactive effective), or take any other commercially reasonable actions necessary or appropriate (a) to preserve the intended tax treatment of the amounts payable hereunder, to preserve the economic benefits of such amounts, and/or to avoid less favorable accounting or tax consequences for the Participating Employers and/or (b) to exempt the amounts payable hereunder from Section 409A of the Code or to comply with the requirements of Section 409A of the Code and thereby avoid the application of penalty taxes thereunder; provided, however, that this Section 5.7 does not, and shall not be construed so as to, create any obligation on the part of any Participating Employer to adopt any such amendments, policies or procedures or to take any other such actions or to indemnify any Participant for any failure to do so. 
		
	5.8
	Employees Based Outside the United Stated

Notwithstanding any provision of the Plan to the contrary, in order to foster and promote achievement of the purposes of the Plan or to comply with the provisions of laws in other countries in which the Participating Employers operate or have Employees, the Committee, in its sole discretion, shall have the power and authority to: (i) modify the terms and conditions of participation in the Plan for any Eligible Employees who are employed outside the United States, and (ii) establish sub-plans, modified deferral or payment procedures and other terms and procedures to the extent such actions may be necessary or advisable in such foreign jurisdictions.

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	5.9
	Claims Procedures

Claims for benefits under the Plan shall be addressed pursuant to the claims procedures applicable under the Company’s tax-qualified 401(k) plan.  Any decision pursuant to such claims procedures shall be final and conclusive upon all persons interested therein, except to the extent otherwise provided by applicable law.
[Signature on next page]

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IN WITNESS WHEREOF, this instrument has been executed by the Company on March 25, 2019.

	
		
	ENPRO INDUSTRIES, INC.

	 
	 

	By:
	/s/ Robert S. McLean

	Name:
	Robert S. McLean

	Title:
	Executive Vice President, General Counsel and Secretary

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ENPRO INDUSTRIES, INC. MANAGEMENT STOCK PURCHASE DEFERRAL PLAN

Exhibit A
Participating Employers
(As of the Effective Date)
	
	
	Participating Employers

	1. EnPro Industries, Inc. (Effective Date)

	2.

	3.

	4.

	5.

	6.

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