FORM OF AMERICAN RAILCAR INDUSTRIES, INC. 2005 EQUITY INCENTIVE PLAN STOCK APPRECIATION RIGHTS AGREEMENTAppreciation Rights Agreement • May 13th, 2011 • American Railcar Industries, Inc. • Railroad equipment • Delaware
Contract Type FiledMay 13th, 2011 Company Industry JurisdictionPursuant to and in accordance with the American Railcar Industries, Inc. 2005 Equity Incentive Plan, as amended from time to time (the “Plan”), this Stock Appreciation Rights Agreement (the “Award Agreement” or “Agreement”) evidences the issuance to the person named above (the “SARs Holder”) by American Railcar Industries, Inc. (the “Company”), effective as of the date set forth above, of stock appreciation rights (the “SARs”). Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Plan.