Exhibit 10.1
September 11, 2019
W. Matthew Tonn
845 Roberts Lane
Batavia, IL 60510
Email Delivery: vtage0 l@gmail.com
Re: Offer Letter
Dear Matt:
We are extremely pleased to offer you the position of Chief Commercial Officer at FreightCar America, Inc. The role will be based at our Corporate Headquarters in Chicago and will include duties and responsibilities customarily performed and held by persons holding equivalent positions in public companies that are of similar industries and size. In this position you will be reporting directly to Jim Meyer and be a part of the Senior Management Team.
This letter ("Letter") sets forth the terms of your employment. If accepted, your date of employment will be effective on September 30, 2019, or another date acceptable to both of us. Employment is contingent upon successfully passing a background check and pre employment drug screen.
This Letter and your employment is for no specific term. Your employment may be terminated at any time for any reason (or no reason), subject to the terms of this Letter below, by the Company or you upon notice to the Company.
In the event of a "Change in Control" while you are employed with the Company, your equity vesting will be accelerated, and you will also be paid a Transaction Payment equivalent to 75% of your annual base salary.
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. The Company, to:
FreightCar America, Inc.
Two North Riverside Plaza
Suite 1300
Chicago, Illinois 60606
Attention: General Counsel
If to you, to your last address shown on the payroll records of the Company.
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Matt, on behalf of FreightCar America, we are very excited by the prospect of you joining our company. I look forward to answering any questions you may have.
Sincerely,
FreightCar America, Inc.
By: | /s/ Georgia L. Vlamis | September 11, 2019 |
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| Georgia L. Vlamis | Date |
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I have read, understand, and agree to the terms of this letter.
/s/ W. Matthew Tonn |
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| September 11, 2019 |
Employee (signature) |
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| Date |
W. Matthew Tonn |
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Employee (printed name) |
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