Form 8-K

8-K — FreightCar America, Inc.

Accession: 0001213900-26-109859

Filed: 2026-10-15

Period: 2026-10-14

CIK: 0001320854

SIC: 3743 (RAILROAD EQUIPMENT)

Item: Entry into a Material Definitive Agreement

Item: Termination of a Material Definitive Agreement

Item: Material Modifications to Rights of Security Holders

Item: Financial Statements and Exhibits

Documents

8-K — ea0308698-8k_freightcar.htm (Primary)

EX-4.1 — AMENDMENT AND TERMINATION OF RIGHTS AGREEMENT, DATED AS OF OCTOBER 14, 2026, BY AND BETWEEN FREIGHTCAR AMERICA, INC. AND COMPUTERSHARE TRUST COMPANY, N.A., AS RIGHTS AGENT (ea030869801ex4-1.htm)

EX-10.1 — AGREEMENT, DATED AS OF OCTOBER 14, 2026, BY AND BETWEEN FREIGHTCAR AMERICA, INC., OC III LVS XII LP, OC III LVS XXVIII LP, AND OC III LFE II LP (ea030869801ex10-1.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K — CURRENT REPORT

8-K (Primary)

Filename: ea0308698-8k_freightcar.htm · Sequence: 1

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0001320854

2026-10-14

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

October 14, 2026

FREIGHTCAR AMERICA, INC.

(Exact name of Registrant as specified in its charter)

Delaware

001-42830

25-1837219

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification Number)

125 South Wacker Drive, Suite 1500

Chicago, Illinois

60606

(Address of principal executive offices)

(Zip Code)

(800) 458-2235

(Registrant’s telephone number, including

area code)

N/A

(Former name or former address, if changed since

last report)

Check the appropriate box below if the Form 8-K

filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant

to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to

Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications

pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications

pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b)

of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

RAIL

Nasdaq Global Market

Indicate by check mark whether the registrant

is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the

Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check

mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting

standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01. Entry into a Material Definitive

Agreement.

Stockholder Agreement

On October 14, 2026, FreightCar

America, Inc., a Delaware corporation (the “Company”), entered into an agreement (the “Stockholder Agreement”)

with OC III LVS XII LP, OC III LVS XXVIII LP, and OC III LFE II LP (each on behalf of itself, “Stockholder”). Collectively,

Stockholder beneficially owns approximately 48.8% of the Company’s outstanding common stock, par value $0.01 per share (the “Common

Stock”), including shares issuable upon exercise of warrants, as reported in its Schedule 13D/A filed with the Securities and Exchange

Commission (the “SEC”) on July 2, 2026.

The Stockholder Agreement

includes the following material terms:

Termination of the Rights Agreement. The Company agreed to terminate, upon execution of the Stockholder Agreement, its Rights Agreement, dated as of August 5, 2026 (the “Rights Agreement”), between the Company and Computershare Trust Company, N.A., as rights agent (the “Rights Agent”). The terms of the Rights Agreement are described in the Company’s Current Report on Form 8-K filed with the SEC on August 5, 2026. The termination is described in Item 1.02 below.

Limit on Future Rights Plans. The Company agreed not to adopt any stockholder rights plan in which the definition of “Acquiring Person” (or any similar term) includes an ownership threshold of less than 20% of the Common Stock then outstanding.

Board Review of Certain Transfers. Before Stockholder directly or indirectly sells, transfers or assigns any Subject Shares (as defined in the Stockholder Agreement) to a person who is, or would become as a result of the transfer, a “Material Holder,” Stockholder must give the Board written notice describing the number of shares, the price and general terms of the proposed sale, and the identity of the proposed transferee. A “Material Holder” is generally a person that, together with its affiliates and any “group” (as defined under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) of which it is a member, would beneficially own more than 20% of the Company’s outstanding share capital, calculated on a fully diluted basis. The Board may, in its sole discretion and subject to applicable law, approve or reject the proposed transfer in whole or in part, or set conditions to the transfer. If Stockholder does not receive a written disapproval or conditions from the Board within 10 days after delivering its notice, Stockholder may complete the transfer on the terms described in the notice within the following 60 days.

Permitted Transfers. The Board review requirement does not apply to (1) transfers to Stockholder’s affiliates so long as any such affiliate agrees to be bound by the terms of the Stockholder Agreement; (2) sales in an underwritten public offering or through a broker under Rule 144 under the Securities Act of 1933, as amended, if Stockholder does not know, after due inquiry, that any transferee is or will be a Material Holder; or (3) dispositions in connection with (a) a Board-approved binding definitive agreement under which a person or group will acquire more than 50% of the Company’s voting securities or (b) a tender or exchange offer that, if completed, would result in a person or group beneficially owning more than 50% of the Company’s voting securities, if the Company’s Schedule 14D-9 for that offer does not recommend that stockholders reject the offer or state that the Board is considering its response.

Notice of Transfers. Stockholder must notify the Company of any transfer of Subject Shares no later than the date of the transfer. Transfers to affiliates may be reported up to five business days after they occur, and no notice is required for permitted transfers described in clauses (2) and (3) above.

Term. The Stockholder Agreement will terminate at 11:59 p.m. (Eastern Time) on the earlier of (1) the fourth anniversary of the date of the agreement and (2) the date on which Stockholder, together with its affiliates, no longer beneficially owns more than 20% of the Company’s outstanding share capital, calculated on a fully diluted basis.

The Stockholder Agreement

contains customary representations and warranties, including the Company’s representation that, as of the date of the agreement,

no Acquiring Person and no Distribution Date (each as defined in the Rights Agreement) existed.

The foregoing description

of the Stockholder Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Stockholder

Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Amendment and Termination

of Rights Agreement

On October 14, 2026, in connection

with the Stockholder Agreement, the Company and the Rights Agent entered into an Amendment and Termination of Rights Agreement (the “Amendment”).

The information set forth in Item 1.02 of this Current Report on Form 8-K regarding the Amendment is incorporated herein by reference.

Item 1.02. Termination of a Material Definitive

Agreement.

On October 14, 2026, as required

by the Stockholder Agreement, the Company and the Rights Agent entered into the Amendment. The Amendment amends the Rights Agreement to

accelerate its expiration date from July 5, 2027 to the Close of Business (as defined in the Rights Agreement) on October 14, 2026.

The Board approved the Amendment

under Section 27 of the Rights Agreement, which permits the Company to amend the Rights Agreement without the approval of the holders

of the Rights while the Rights are redeemable. As a result of the Amendment, the Rights expired and the Rights Agreement terminated at

the Close of Business on October 14, 2026.

The foregoing description

of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy

of which is filed as Exhibit 4.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 3.03. Material Modification to Rights

of Security Holders.

The information set forth

in Items 1.01 and 1.02 of this Current Report on Form 8-K is incorporated herein by reference. As a result of the Amendment, effective

as of the Close of Business on October 14, 2026, the Preferred Stock Purchase Rights registered under Section 12(b) of the Exchange Act

expired and are no longer outstanding, and the holders of Common Stock are no longer entitled to any rights or benefits under the Rights

Agreement.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits:

Exhibit Number

Exhibit Description

4.1

Amendment and Termination of Rights Agreement, dated as of October 14, 2026, by and between FreightCar America, Inc. and Computershare Trust Company, N.A., as rights agent.

10.1

Agreement, dated as of October 14, 2026, by and between FreightCar America, Inc., OC III LVS XII LP, OC III LVS XXVIII LP, and OC III LFE II LP.

104

Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities

Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

FreightCar America, Inc.

Date: October 15, 2026

By:

/s/ Nicholas Randall

Name:

Nicholas Randall

Title:

President and Chief Executive Officer

EX-4.1 — AMENDMENT AND TERMINATION OF RIGHTS AGREEMENT, DATED AS OF OCTOBER 14, 2026, BY AND BETWEEN FREIGHTCAR AMERICA, INC. AND COMPUTERSHARE TRUST COMPANY, N.A., AS RIGHTS AGENT

EX-4.1

Filename: ea030869801ex4-1.htm · Sequence: 2

Exhibit 4.1

[Execution Version]

AMENDMENT AND TERMINATION OF

RIGHTS AGREEMENT

This Amendment and Termination

of Rights Agreement (this “Amendment”), dated as of October 14, 2026, by and between FREIGHTCAR AMERICA, INC., a Delaware

corporation (the “Company”), and COMPUTERSHARE TRUST COMPANY, N.A., a federally chartered trust company, as rights

agent (the “Rights Agent”), amends that certain Rights Agreement, dated as of August 5, 2026, by and between the Company

and the Rights Agent (the “Rights Agreement”). All capitalized terms used but not defined herein shall have the meanings

ascribed to such terms in the Rights Agreement.

WHEREAS, the Board of Directors

of the Company has determined that it is desirable to amend the Rights Agreement as set forth herein;

WHEREAS, subject to certain

limited exceptions not applicable here, Section 27 of the Rights Agreement provides that, for so long as the Rights are then redeemable,

the Company may, and the Rights Agent shall if the Company so directs, supplement or amend the Rights Agreement in any respect without

the approval of any holders of the Rights;

WHEREAS, the Company has

determined that this Amendment is permitted by Section 27 of the Rights Agreement; and

WHEREAS, pursuant to Section

27 of the Rights Agreement, the Company hereby directs that the Rights Agreement shall be amended as set forth in this Amendment.

NOW THEREFORE, in consideration

of the foregoing premises and mutual covenants and agreements set forth herein, and other good and valuable consideration, the receipt

and sufficiency of which are hereby acknowledged, the Company and the Rights Agent hereby agree as follows:

Section 1. Amendment

to Section 7. Clause (i) of Section 7 of the Rights Agreement is hereby amended to read in its entirety as follows:

“(i) the Close of Business on October 14,

2026 (the “Expiration Date”),”.

Section 2. Addition

of New Section 38. The Rights Agreement is amended by adding a new Section 38 thereto, which shall read as follows:

“Section 38. Termination.

Notwithstanding any provision of this Agreement to the contrary, except for those provisions herein that expressly survive the termination

of this Agreement, this Agreement shall terminate and shall have no further force or effect as of the Close of Business on October 14,

2026, and all Rights established hereunder shall automatically expire at such time.”

Section 3. Effective

Date; Certification. This Amendment shall be deemed effective as of the date first written above, as if executed on such date.

The officer of the Company executing this Amendment hereby certifies to the Rights Agent that the amendments to the Rights Agreement set

forth in this Amendment are in compliance with Section 27 of the Rights Agreement and the certification contained in this Section 3 shall

constitute the certification required by Section 27 of the Rights Agreement.

Section 4. Governing

Law. This Amendment shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be

governed by and construed in accordance with the laws of such State applicable to contracts made and to be performed entirely within such

State.

Section 5. Counterparts.

This Amendment may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original,

and all such counterparts shall together constitute but one and the same instrument. A signature to this Amendment transmitted by facsimile

or by e-mail delivery of a “.pdf” format data file shall have the same authority, effect, and enforceability as an original

signature.

Section 6. Descriptive

Headings. Descriptive headings of the several Sections of this Amendment are inserted for convenience only and shall not control

or affect the meaning or construction of any of the provisions hereof.

Section 7. No Other

Modification. Except as expressly set forth herein, the Rights Agreement shall continue in full force and effect in accordance

with the provisions thereof.

[Signature page follows.]

IN WITNESS WHEREOF, the parties hereto have caused

this Amendment to be duly executed, all as of the day and year first above written.

FREIGHTCAR AMERICA, INC.

By:

/s/ Nick Randall

Name:

Nick Randall

Title:

President and Chief Executive Officer

COMPUTERSHARE TRUST COMPANY, N.A., as Rights Agent

By:

/s/ Patrick Hayes

Name:

Patrick Hayes

Title:

Senior Vice President, Client Management

[Signature Page –

Amendment and Termination of Rights Agreement]

EX-10.1 — AGREEMENT, DATED AS OF OCTOBER 14, 2026, BY AND BETWEEN FREIGHTCAR AMERICA, INC., OC III LVS XII LP, OC III LVS XXVIII LP, AND OC III LFE II LP

EX-10.1

Filename: ea030869801ex10-1.htm · Sequence: 3

Exhibit 10.1

Execution Version

AGREEMENT

THIS AGREEMENT (the “Agreement”),

dated as of October 14, 2026, is made by and between FreightCar America, Inc., a Delaware corporation (the “Company”),

and OC III LVS XII LP, OC III LVS XXVIII LP, and OC III LFE II LP, each on behalf of itself (each such holder of Common Stock, “Stockholder”).

In consideration of the mutual

covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby

acknowledged, the parties to this Agreement, intending to be legally bound hereby, agree as follows:

ARTICLE I

Definitions

Section 1.1. Definitions.

For purposes of this Agreement, the following terms have the respective meanings set forth below:

(a) “Affiliate”

means, with respect to any Person, any Person controlled by, controlling or under common control with, such Person. As used in this definition,

“control” (including, with its correlative meanings, “controlling,” “controlled by”

and “under common control with”) shall mean possession, directly or indirectly, of power to direct or cause the direction

of management or policies (whether through ownership of securities, by contract or otherwise); provided that, for purposes of this

Agreement, the Company and its Subsidiaries shall not be deemed to be Affiliates of Stockholder; provided further, that, other

than as used in the definition of “Material Holder” contained herein, any direct or indirect parent of Pacific Investment

Management Company LLC (“PIMCO”), and any Affiliate of any such parent (other than PIMCO or any Person directly or

indirectly controlled by PIMCO), shall not be deemed an Affiliate of any Stockholder; provided further, that, for purposes of this

Agreement, no Person shall be deemed an Affiliate of Stockholder by virtue of a passive ownership interest in such Person held by any

investment vehicle managed by PIMCO or its Affiliates without the intention to exercise control.

(b) “Applicable Requirements”

means (i) all contractual obligations relating to the business of the Company and its Subsidiaries, and (ii) all Legal Requirements applicable

to the business of the Company and its Subsidiaries.

of Incorporation” shall mean the Certificate of Amendment of Certificate of Ownership and Merger of FreightCar America, Inc.

into FCA Acquisition Corp., dated April 1, 2005, as filed with the Secretary of State of the State of Delaware, as the same may be amended

and/or restated from time to time.

(d) “Beneficial ownership,”

“beneficial owner” and “beneficially own” shall have the meanings ascribed to such terms in Rule

13d-3 under the Exchange Act.

(e) “Board”

shall mean the Board of Directors of the Company.

(f) “Bylaws”

shall mean the Company’s Third Amended and Restated Bylaws, effective as of September 28, 2007.

(g) “Common Stock”

shall mean the Common Stock, par value $0.01 per share, of the Company.

(h) “Contract”

means any written or, subject to the knowledge of the Company, oral contract, agreement, note, bond, indenture, mortgage, guarantee, option,

lease, license, commitment or other written instrument, in each case, that is legally binding on the Company or any of its Subsidiaries.

(i) “Exchange Act”

shall mean the Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and regulations promulgated thereunder.

(j) “Governmental

Entity” means any national, state, local, county, parish or municipal government, domestic or foreign, any agency, board, bureau,

commission, court, tribunal, subdivision, department or other governmental or regulatory authority or instrumentality or quasi-governmental

authority, in each case, that has jurisdiction over the Company or any of its properties, assets or business or any matter relating to

the transactions contemplated by this Agreement.

(k) “Legal Requirement”

means any federal, state, provincial, local, municipal, foreign, international, multinational or other law, statute, regulation, rule,

directive, guidance, convention, ordinance, code, constitution, order, treaty or judgment, or similar provision or Applicable Requirement

of any Governmental Entity, in each case in each case applicable to or binding upon the Company or any of its Subsidiaries, or to which

the Company or any of its Subsidiaries is subject.

(l) “Material Holder”

shall mean any Person who, together with such Person’s Affiliates or other Persons with whom such Person may be acting in concert

in such a way as to constitute or has otherwise formed a “group” as defined in the Exchange Act and the rules and regulations

thereunder, shall, after giving effect to a transfer of Subject Shares contemplated herein and taking into account any Company shares

otherwise held by such Person or its Affiliates or member of such “group,” beneficially own in aggregate of more than 20%

of the Company’s outstanding share capital (calculated on a fully diluted basis).

(m) “Person”

means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint

venture, an unincorporated organization, association or other entity or a Governmental Entity.

(n) “SEC”

means the Securities and Exchange Commission.

(o) “Stockholder

Rights Plan” means the Rights Agreement, dated as of August 5, 2026, between the Company and Computershare Trust Company, N.A.

(p) “Subject Shares”

shall mean any Common Stock or any equity interest of, or shares of any class in the share capital (ordinary, preferred or otherwise)

of, the Company and any convertible securities, options, warrants and any other type of equity or equity-linked securities convertible,

exercisable or exchangeable for any such equity interest or shares of any class in the share capital of the Company beneficially owned

by Stockholder or its Affiliates at the time of this Agreement.

(q) “Subsidiary”

means, with respect to any Person, any corporation, limited liability company, partnership, association or business entity of which (i)

if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency)

to vote in the election of directors thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more

of the other Subsidiaries of that Person or a combination thereof, or (ii) if a limited liability company, partnership, association or

other business entity (other than a corporation), a majority of the profits or losses of such limited liability company, partnership,

association or other business entity (as the case may be) is allocated, directly or indirectly, to that Person or one or more Subsidiaries

of that Person or a combination thereof, or that Person or one or more Subsidiaries of that Person or a combination thereof controls the

general partner, manager, managing member, managing director (or a board comprised of any of the foregoing) of such limited liability

company, partnership, association or other business entity. For purposes hereof, references to a “Subsidiary” of any Person

shall be given effect only at such times such Person has one or more Subsidiaries, and, unless otherwise indicated, the term “Subsidiary”

refers to a Subsidiary of the Company.

ARTICLE II

Representations and Warranties

Section 2.1. Representations

and Warranties of Stockholder. Stockholder hereby represents and warrants to the Company as follows:

(a) Organization. Stockholder

is duly organized and is validly existing and in good standing as a limited liability company or limited partnership under the laws of

the State of Delaware and has all the requisite power and authority to carry on its business as it is now being conducted, except as would

not, individually or in the aggregate, have or reasonably be expected to have a material adverse effect on Stockholder.

(b) Authorization; Enforceability.

Stockholder has the full right, power, authority and capacity to enter into this Agreement and any other agreements contemplated hereby,

and to perform its obligations hereunder and thereunder. The execution, delivery and performance by Stockholder of this Agreement and

any other agreements contemplated hereby, and the consummation of the transactions contemplated hereby and thereby, have been duly authorized

by all necessary and proper actions on the part of Stockholder. This Agreement and any other agreements contemplated hereby have been

(or will be) duly executed and delivered by Stockholder and, assuming due authorization, execution and delivery of this Agreement and

any other agreements contemplated hereby by the other parties thereto, do constitute valid and binding obligations of Stockholder, enforceable

against Stockholder in accordance with their respective terms, except as such may be limited by bankruptcy, insolvency, fraudulent conveyance,

reorganization or other similar laws affecting creditors’ rights generally and by general equitable principles.

The execution, delivery and performance by Stockholder of this Agreement and any other agreements contemplated hereby and the consummation

of the other transactions contemplated hereby and thereby: (a) will not conflict with or violate any provision of its limited liability

company agreement or limited partnership agreement, as the case may be; (b) will not conflict with or result in any breach of, or constitute

a default (or an event which with notice or lapse of time or both would become a default) under, or give rise to any right of termination,

acceleration or cancellation under, any lease, mortgage, license, indenture or any other material agreement to which Stockholder is a

party or by which its properties may be bound or affected or result in the creation of any lien or encumbrance upon any property or assets

of Stockholder or the suspension, revocation, impairment or forfeiture of any material permit, license, authorization, or approval applicable

to Stockholder, its business or operations, or any of its assets or properties, respectively; and (c) will not conflict with or violate

any law or regulation applicable to Stockholder.

(d) Agreements, Arrangements

or Understandings. Except for any agreements, arrangements or understandings with the Company, neither Stockholder nor any of its

Affiliates has an agreement, arrangement or understanding with any Person with respect to the nomination or election of directors by the

stockholders of the Company.

Section 2.2. Representations

and Warranties of the Company. The Company represents and warrants to Stockholder as follows:

(a) Organization. The

Company is duly organized and is validly existing and in good standing as a corporation under the laws of the State of Delaware and has

all the requisite power and authority to carry on its business as it is now being conducted, except as would not, individually or in the

aggregate, have or reasonably be expected to have a material adverse effect on the Company and its Subsidiaries, taken as a whole (a “Material

Adverse Effect”).

(b) Authorization; Enforceability.

The Company has the full right, power, authority and capacity to enter into this Agreement and any other agreements contemplated hereby,

and to perform its obligations hereunder and thereunder. The execution, delivery and performance by the Company of this Agreement and

any other agreements contemplated hereby, and the consummation of the transactions contemplated hereby and thereby, have been duly authorized

by all necessary and proper actions on the part of the Company. This Agreement and any other agreements contemplated hereby have been

(or will be) duly executed and delivered by the Company and, assuming due authorization, execution and delivery of this Agreement and

any other agreements contemplated hereby by the other parties thereto, do constitute valid and binding obligations of the Company, enforceable

against the Company in accordance with their respective terms, except as such may be limited by bankruptcy, insolvency, fraudulent conveyance,

reorganization or other similar laws affecting creditors’ rights generally and by general equitable principles.

The Company’s execution, delivery and performance of and compliance with this Agreement and any other agreements contemplated hereby

to which it is a party, and the consummation of the other transactions contemplated hereby and thereby: (a) will not result in any violation

of the provisions of its Certificate of Incorporation or Bylaws; (b) will not conflict with or constitute a breach of or a default (or

constitute an event which with notice or lapse of time or both would become a default) under or give rise to any right of termination,

recapture, acceleration or cancellation under any material Contract of the Company, or result in the creation or imposition of any lien

or encumbrance upon any property or assets of the Company or any of its Subsidiaries, or, to the Company’s knowledge, the suspension,

revocation, impairment or forfeiture of any material permit, license, authorization, or approval applicable to the Company, its business

or operations, or any of its assets or properties; (c) to the Company’s knowledge, will not result in any violation of any Legal

Requirement or any judgment, order or decree of any Governmental Entity applicable to the Company or any of its Subsidiaries; and (d)

to the Company’s knowledge, will not require the consent, approval, order, or authorization of, or registration, qualification,

declaration, or filing with, any Governmental Entity on the part of the Company or any of its Subsidiaries, in the case of each of clauses

(b), (c) and (d), other than as would not reasonably be expected to have a Material Adverse Effect.

(d) Stockholder Rights

Plan. As of the date hereof, there has been no Acquiring Person (as defined in the Stockholder Rights Plan) and there is no Distribution

Date (as defined in the Stockholder Rights Plan).

ARTICLE III

Stockholder Rights Plans

Section 3.1. Termination

of Stockholder Rights Plan. Upon execution of this Agreement, the Company shall terminate the Stockholder Rights Plan.

Section 3.2. Future Stockholder

Rights Plans. The Company shall not adopt any stockholder rights plan that contains a definition of “Acquiring Person”

(or analogous definition) with a share ownership threshold that is less than 20% of the Common Stock of the Company then outstanding.

ARTICLE IV

Restrictions on Transfer by Stockholder

Section 4.1. Transfer

Restrictions. Stockholder covenants and agrees that if, at any time prior to the Termination Date, Stockholder (or any Affiliate

of Stockholder) proposes to, directly or indirectly, sell, transfer or assign any Subject Shares (the “Sale

Shares”), whether in one or in a series of transactions, to any Person who is or by virtue of such sale, transfer or

assignment would become a Material Holder (and/or any Affiliate of any such Person), then prior to entering into such proposed

transaction, Stockholder shall give to the Board written notice (the “Written Notice”) of its or any such

Affiliate’s intention to sell, describing the amount of Sale Shares, the price and the general terms upon which Stockholder or

such Affiliate proposes to sell the Sale Shares, and the identity of the transferee or transferees to whom Stockholder or such

Affiliate proposes to sell. In such instance, the Board shall be entitled, in its sole and absolute discretion, subject to

applicable law, to approve or reject the proposed transaction, in whole or in part, or set conditions to the consummation of the

proposed transaction, which conditions may only be waived in the Board’s sole discretion. If, within ten (10) days after the

provision of the Written Notice, Stockholder shall not have received a written disapproval from the Board or other communication

from the Board setting forth conditions to the consummation of the proposed transaction, Stockholder or such Affiliate shall have

sixty (60) days thereafter to complete such transaction upon the terms set forth in the Written Notice.

Section 4.2. Permitted

Transfers. The restrictions set forth in Section 4.1 shall not apply to: (1) a sale, transfer or assignment to any of Stockholder’s

Affiliates, so long as any such Affiliate agrees to be bound by the terms of this Agreement; (2) any transaction pursuant an underwritten

public offering or through a broker pursuant to Rule 144 under the Securities Act of 1933, as amended, in which Stockholder does not know

(after due inquiry (it being understood that such knowledge shall be deemed to exist with respect to any publicly available information,

including, but not limited to, information in documents filed with the SEC)), that any transferee is or will be a Material Holder; or

(3) a disposition by Stockholder in connection with a transaction in which: (a) any Person or group shall have acquired or entered into

a binding definitive agreement that has been approved by the Board (or any duly constituted committee thereof) to acquire more than 50%

of the voting securities of the Company; or (b) any Person or group shall have commenced a tender or exchange offer which, if consummated,

would result in such Person’s acquisition of beneficial ownership of more than 50% of the voting securities of the Company, and

in connection therewith, the Company files with the SEC a Schedule 14D-9 with respect to such offer that does not either (i) recommend

that the Company’s stockholders reject such offer or (ii) advise the Company’s stockholders that the Board is considering

its response to the offer (each of (1), (2), and (3), a “Permitted Transfer”).

ARTICLE V

Further Assurances

Each party shall execute and

deliver such additional instruments and other documents and shall take such further actions as may be necessary or appropriate to effectuate,

carry out and comply with all of its respective obligations under this Agreement. If reasonably requested by the Company at any time during

the term of this Agreement, Stockholder agrees to confirm in writing to the Company the number of Subject Shares as of the latest practicable

date.

ARTICLE VI

Termination

Unless earlier terminated

by written agreement of the parties, this Agreement shall terminate at 11:59 p.m. (Eastern Time) on the earlier of (i) the four-year anniversary

of the date hereof and (ii) the date on which Stockholder (together with its Affiliates) no longer beneficially owns greater than 20%

of the outstanding share capital (calculated on a fully diluted basis) of the Company (such date, the “Termination Date”).

Any termination of this Agreement as provided herein shall be without prejudice to the rights of any party arising out of the breach by

any other party of any provisions of this Agreement that occurred prior to the termination.

ARTICLE VII

Miscellaneous

Section 7.1. Notice of

Transfer. Concurrently with, and in no event later than, the date on which Stockholder or any Affiliate sells, assigns, transfers,

pledges or otherwise disposes of any Subject Shares (a “Transfer”), Stockholder shall deliver written notice of such

Transfer to the Company pursuant to the provisions of this Section 7.1; provided, however, that this Section 7.1 shall not

apply to any Permitted Transfer described in clause (2) or (3) of Section 4.2; provided further, however, that with respect

to any Permitted Transfer described in clause (1) of Section 4.2, the written notice required by this Section 7.1 may be delivered up

to five (5) business days following the date on which such Permitted Transfer occurs. Such notice shall include (i) the name and contact

information of the transferee; (ii) the amount of Subject Shares transferred; (iii) the date of the Transfer; (iv) for any Transfer other

than a Permitted Transfer, the price per Subject Share and aggregate consideration paid, if any; and (v) a representation that such Transfer

complies in all respects with all applicable transfer restrictions set forth in this Agreement. Compliance with this Section 7.1 does

not relieve Stockholder of any other obligation under this Agreement.

Section 7.2. Notices.

Any notices or other communications required or permitted hereunder shall be sufficiently given if in writing, addressed as follows:

If to the Company: FreightCar

America, Inc.

125 South Wacker

Drive

Suite 1500

Chicago, Illinois

60606

Email: [***]

Attention: Michael

A. Riordan

With a copy to (which shall

not constitute notice):

Winston Taylor LLP

300 N. LaSalle Drive

Chicago, IL 60654

Email: oscar.david@winstontaylor.com

david.sakowitz@winstontaylor.com

Attention: Oscar

David, Esq. and David A. Sakowitz, Esq.

If to Stockholder: c/o

Pacific Investment Management Company LLC

650 Newport Center

Drive

Newport Beach, CA

92660

Email: [***]

[***]

Attention: Chris

Neumeyer and Lisa Joseph

With a copy to (which shall

not constitute notice):

McDermott Will &

Schulte LLP

919 Third Ave.

New York, NY 10022

Email: dcurtiss@mcdermottlaw.com

Attention: David

Curtiss

Unless otherwise specified herein, such

notices or other communications shall be deemed received (a) in the case of any notice or communication sent other than by mail, on

the date actually delivered to such address (evidenced, in the case of delivery by overnight courier, by confirmation of delivery

from the overnight courier service making such delivery, and in the case of a telecopy, by receipt of a transmission confirmation

form or the addressee’s confirmation of receipt), or (b) in the case of any notice or communication sent by mail, three (3)

business days after being sent, if sent by registered or certified mail, with first-class postage prepaid. Each of the parties

hereto shall be entitled to specify a different address by giving notice as aforesaid to each of the other parties hereto.

Section 7.3. Amendments,

Waivers, Etc. This Agreement may not be amended, changed, supplemented, waived or otherwise modified or terminated except by an instrument

in writing signed by the parties hereto.

Section 7.4. Successors

and Assigns. Except as otherwise provided herein, this Agreement shall be binding upon and shall inure to the benefit of and be enforceable

by the parties and their respective successors and assigns, including without limitation in the case of any corporate party hereto any

corporate successor by merger or otherwise; provided that no party may assign this Agreement without the other parties’ prior

written consent.

Section 7.5. Entire Agreement.

This Agreement constitutes the entire agreement and understanding among the parties relating to the subject matter hereof and supersedes

all prior agreements and understandings relating to such subject matter. There are no covenants by the parties hereto relating to such

subject matter other than those expressly set forth in this Agreement.

Section 7.6. Specific Performance.

The parties acknowledge that money damages are not an adequate remedy for violations of this Agreement and that any party may, in its

sole discretion, apply to a court of competent jurisdiction for specific performance or injunctive or such other relief as such court

may deem just and proper in order to enforce this Agreement or prevent any violation hereof and, to the extent permitted by applicable

law, each party waives any objection to the imposition of such relief.

Section 7.7. Remedies Cumulative.

All rights, powers and remedies provided under this Agreement or otherwise available in respect hereof at law or in equity shall be cumulative

and not alternative, and the exercise or beginning of the exercise of any thereof by any party shall not preclude the simultaneous or

later exercise of any other such right, power or remedy by such party.

Section 7.8. No Waiver.

The failure of any party hereto to exercise any right, power or remedy provided under this Agreement or otherwise available in respect

hereof at law or in equity, or to insist upon compliance by any other party hereto with its obligations hereunder, and any custom or practice

of the parties at variance with the terms hereof, shall not constitute a waiver by such party of its right to exercise any such or other

right, power or remedy or to demand such compliance.

Section 7.9. No Third-Party

Beneficiaries. This Agreement is not intended to be for the benefit of and shall not be enforceable by any Person who or which is

not a party hereto, except for Affiliates of Stockholder that own or hold Subject Shares.

Section 7.10. Governing

Law. This Agreement shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed

by and construed in accordance with the laws of such State applicable to contracts to be made and performed entirely within such State,

without giving effect to the choice of law or conflict of law principles thereof or of any other jurisdiction.

Section 7.11. Consent

to Jurisdiction. Each party to this Agreement, by its execution hereof, hereby (i) irrevocably submits, and agrees to cause each

of its Affiliates to submit, to the jurisdiction of the Court of Chancery of the State of Delaware, and in the event that such court

shall not have subject matter jurisdiction over the relevant proceeding, then of the United States District Court for the District

of Delaware, for the purpose of any action arising out of or based upon this Agreement or relating to the subject matter hereof or

the transactions contemplated hereby, (ii) waives, and agrees to cause each of its Affiliates to waive, to the extent not prohibited

by applicable law, and agrees not to assert, and agrees not to allow any of its Affiliates to assert, by way of motion, as a defense

or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that

its property is exempt or immune from attachment or execution, that any such proceeding brought in one of the above-named courts is

improper, or that this Agreement or the subject matter hereof may not be enforced in or by such court and (iii) hereby agrees not to

commence or to permit any of its Affiliates to commence any action arising out of or based upon this Agreement or relating to the

subject matter hereof other than before one of the above-named courts nor to make any motion or take any other action seeking or

intending to cause the transfer or removal of any such action to any court other than one of the above-named courts whether on the

grounds of inconvenient forum or otherwise. Each party hereby consents to service of process in any such proceeding in any manner

permitted by Delaware law, as the case may be, and agrees that service of process by registered or certified mail, return receipt

requested, at its address specified pursuant to Section 7.2 above is reasonably calculated to give actual notice.

Section 7.12. Name, Captions.

The name assigned to this Agreement and the section captions used herein are for convenience of reference only and shall not affect the

interpretation or construction hereof.

Section 7.13. Counterparts.

This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together

shall constitute one instrument. A signature to this Agreement executed and/or transmitted electronically shall have the same authority,

effect and enforceability as an original signature.

Section 7.14. Expenses.

Each of the parties hereto shall bear its own expenses (including, without limitation, attorney’s fees) incurred in connection with

the negotiation and execution of this Agreement.

Section 7.15. Severability.

In the event that any provision hereof would, under applicable law, be invalid or unenforceable in any respect, such provision shall (to

the extent permitted under applicable law) be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent

compatible with, and possible under, applicable law. The provisions hereof are severable, and in the event any provision hereof should

be held invalid or unenforceable in any respect, it shall not invalidate, render unenforceable or otherwise affect any other provision

hereof.

[REMAINDER OF PAGE INTENTIONALLY BLANK; SIGNATURES

ON NEXT PAGE]

IN WITNESS WHEREOF,

the parties hereto, intending to be legally bound hereby, have caused this Agreement to be executed as of the date first above written.

FREIGHTCAR AMERICA, INC.

By:

/s/ Nick Randall

Name:

Nick Randall

Title:

President and Chief Executive Officer

OC III LVS XII LP

By: OC III GP II LLC, its general partner

By:

/s/ Adam L. Gubner

Name:

Adam L. Gubner

Title:

Authorized Person

OC III LVS XXVIII LP

By: OC III GP LLC, its general partner

By:

/s/ Adam L. Gubner

Name:

Adam L. Gubner

Title:

Authorized Person

OC III LFE II LP

By: OC III GP LLC, its general partner

By:

/s/ Adam L. Gubner

Name:

Adam L. Gubner

Title:

Authorized Person

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