FREIGHTCAR AMERICA, INC. (NASDAQ:RAIL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On June 5, 2017, FreightCar America, Inc. (the Company) announced
that it has expanded the role of Georgia L. Vlamis, the Companys
Vice President, General Counsel and Corporate Secretary, to
include corporate responsibility for human resources effective
June 5, 2017 (the Effective Date). In connection with the
assumption of her expanded responsibilities, Ms. Vlamis title was
changed to Vice President, General Counsel, Corporate Secretary
and Human Resources.
Ms. Vlamis, 56, was appointed as the Companys Vice President,
General Counsel and Corporate Secretary effective December 1,
2015. Ms. Vlamis joined the Company from Motorola Solutions, Inc.
(Motorola), a data communications and telecommunications
equipment provider, where she served since October 2011 as Vice
President and Head of Litigation and, in December 2013, assumed
additional responsibilities for Antitrust, Regulatory Product
Safety. Earlier in her tenure, Ms. Vlamis served as Vice
President and Lead Counsel for Motorolas government and
enterprise business sector (January 2008 October 2011) and as
Senior Counsel and Director for two of Motorolas business units
(June 1995 January 2008). Prior to joining Motorola, Ms. Vlamis
was a Partner with the law firm of Wildman, Harrold, Allen Dixon
and an Associate at Sidley Austin in Chicago.
In connection with Ms. Vlamis expanded responsibilities, the
Company and Ms. Vlamis entered into a letter agreement amending
the terms of her employment (the Amendment) dated June 1, 2017
and effective the Effective Date. A description of the material
terms of the Amendment is set forth below, which description is
qualified in its entirety by reference to the Amendment attached
hereto as Exhibit 10.1.
(1) Base Salary: The Company increased Ms. Vlamis base salary to
$267,750 per year, effective the Effective Date, which is subject
to annual review by the Company.
(2) Termination Payments: Upon a termination of Ms. Vlamis
employment by the Company, for any reason other than for cause,
she will be entitled to (i) accrued base salary and accrued and
unused vacation through the date of termination, (ii) any accrued
and vested benefits and unreimbursed expenses incurred and unpaid
on the date of termination and (iii) 26 weeks of pay.
All other terms of Ms. Vlamis employment as set forth in the
letter agreement regarding terms of employment dated November 17,
2015 by and between the Company and Ms. Vlamis will continue to
Section 9 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
Letter agreement dated June 1, 2017 by and between FreightCar
America, Inc. and Georgia L. Vlamis
About FREIGHTCAR AMERICA, INC. (NASDAQ:RAIL)
FreightCar America, Inc. is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars. The Company manufactures aluminum-bodied railcars, including coal cars. The Manufacturing segment includes new railcar manufacturing, used railcar sales, railcar leasing and major railcar rebuilds. The Company refurbishes and rebuilds railcars, and sells forged, cast and fabricated parts for all of the railcars. The Company also leases freight cars through its JAIX Leasing Company subsidiary. The Company’s railcar manufacturing facilities are located in Cherokee, Alabama (Shoals), Danville, Illinois and Roanoke, Virginia.