August 27, 2010 Joseph E. McNeely 2409 Rivendell Drive New Lenox, Illinois 60451 Re: Terms of Employment Dear Joe:Letter Agreement • August 27th, 2010 • FreightCar America, Inc. • Railroad equipment • Illinois
This letter agreement (“letter”) sets forth the terms of your employment with FreightCar America, Inc. (the “Company”). Commencing September 13, 2010, you will be employed as the Company’s Vice President, Finance, Chief Financial Officer and Treasurer, based at the Company’s offices in Chicago, Illinois, and reporting to the Company’s President and Chief Executive Officer. You will have all of the duties and responsibilities commensurate with such position under the Company’s by-laws and consistent with the duties and responsibilities of chief financial officers of similar businesses as the Company. During your employment, you will devote your full-time business attention to the Company and will use your best efforts to discharge your responsibilities. You may, however, engage in civic and charitable activities, provided that these activities do not interfere with your duties to the Company.
