Document:

ex10_2.htm

Exhibit 10.2

 

 

 

SECURITY AGREEMENT

 

This Security Agreement (the “Agreement”) is made as of this 6th day of January, 2016 by and between Tofutti Brands Inc., a Delaware corporation, having a place of business at 50 Jackson Drive, Cranford, New Jersey 07016 (“Grantor”) and David Mintz ("Secured Party"), having a place of business at 50 Jackson Drive, Cranford, New Jersey 07016.

 

WHEREAS, the Grantor has executed and delivered to Secured Party a Secured Promissory Note (the “Note”) dated as of the date hereof;

 

WHEREAS, the Grantor has agreed to secure the Note as further set forth herein;

 

NOW, THEREFORE, in consideration of the promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

Section 1.  Definitions.  All capitalized terms used herein or in any certificate, report or other document delivered pursuant hereto shall has the meanings assigned to them below or as defined in the Note or in the Uniform Commercial Code as adopted in the State of New Jersey (the “NJ Code”).

 

       Section 2.  Grant.  To secure the payment and performance of the Note, Grantor hereby assigns and pledges to the Secured Party a continuing security interest in and to the following Collateral (the “Collateral”), and each item thereof, whether now owned or now due, or in which the Grantor has an interest, or hereafter acquired, arising, or to become due, or in which Grantor or either of them obtain an interest:

 

(i) all Accounts;

 

(ii) all Chattel Paper;

 

(iii) all Documents;

 

(iv) all Equipment;

 

(v) all Fixtures;

 

(vi) all General Intangibles;

 

(vii) all Goods and all Accessions thereto, and Goods with which the Goods are commingled;

 

(viii) all Instruments;

 

(ix) all Inventory;

 

 

  

  

  

 

(x) all Investment Property;

 

(xi) all Money, cash or cash equivalents;

 

	
(xii)  

	
all letters of credit, Letter-of-Credit Rights and Supporting Obligations;

 

	
(xiii)  

	
all Deposit Accounts with any bank or other financial institution;

 

	
(xiv)  

	
all Commercial Tort Claims;

 

	
(xv)  

	
all intellectual property;

 

	
(xvi)  

	
all personal property not otherwise described above; and

 

	
(xvii)  

	
all books and records pertaining to the Collateral.

 

together with all proceeds (including but not limited to insurance proceeds), products and accessions, and any cash or property received in exchange therefor, or to which Grantor is or may become entitled to receive on account of the Collateral.

 

Section 3.  Representations, Warranties and Covenants.  Grantor makes the following representations and warranties, and agrees to the following covenants, each of which representations, warranties and covenants shall be continuing and in force as long as this Agreement is in effect:

 

(a)           The name and address of the Grantor set forth on the first page hereof is the true and correct legal name and address of such Grantor as set forth in the Grantor’s organizational documents.

 

(b)           The Grantor is the lawful owner of the Collateral free and clear of all security interests, liens and encumbrances and claims of others.

 

(c)           The execution, delivery and performance of this Agreement has been duly authorized by all necessary action, corporate or otherwise of Grantor.

 

(d)           This Agreement, together with the filing of Uniform Commercial Code financing statements in the appropriate offices or the execution of appropriate account control agreements, as the case may be, creates a valid and continuing first lien on and perfected security interest in the Collateral, prior to all other liens or encumbrances, and is enforceable as such against creditors of the Grantor to the extent provided by the NJ Code and applicable law.

 

(e)           The Grantor will not sell, grant, assign or transfer any interest in, or permit to exist any liens or encumbrances on, any of the Collateral other than in favor of the Secured Party; provided, however, that the Grantor may sell, transfer, or otherwise dispose of any of the Collateral in the ordinary course of its business.  The Grantor shall defend its title to and the Secured Party’s interest in the Collateral against all claims (other than claims that in the judgment of the Grantor are not material to the value of the Collateral taken as a whole) and take any action necessary to remove any liens and defend the right, title and interest of the Secured Party in and to any of the Grantor’s rights in the Collateral.

 

(f)           Upon the written request of the Secured Party, and at the sole expense of the Grantor, the Grantor will promptly execute and deliver such further instruments and documents and take such further actions as the Secured Party may reasonably deem necessary to obtain the full benefits of this Agreement and of the rights and powers herein granted, including, without limitation, filing of any financing statement under the NJ Code covering the Collateral.  The Grantor authorizes the Secured Party to file any such financing statement with regard to the Collateral without the signature of the Grantor to the extent permitted by applicable law, and to file a copy of this Agreement in lieu of a financing statement.  If any amount payable under or in connection with any of the Collateral shall be or become evidenced by any promissory Note or other instrument, such Note or instrument shall be promptly delivered to the Secured Party, duly endorsed in a manner reasonably satisfactory to it.

 

  

  

  

       Section 4.  Notices and Reports Pertaining to Collateral.  The Grantor will, with respect to the Collateral:

 

(a)           promptly furnish to the Secured Party, from time to time upon request, reports in form and detail reasonably satisfactory to the Secured Party; and

 

(b)           promptly notify the Secured Party upon obtaining knowledge of any lien or encumbrance asserted against the Collateral, including any attachment, levy, execution or other legal process levied against any of the Collateral, and of any information received by the Grantor relating to the Collateral that would reasonably be expected to materially adversely affect the value of the Collateral taken as a whole or the rights and remedies of the Secured Party with respect thereto.

       

       Section 5.  Set-off Rights.  Regardless of the adequacy of any Collateral or any other means of obtaining repayment of the Note, the Secured Party may at any time and from time to time during the continuation of an Event of Default, without notice to the Grantor (any such notice being expressly waived by the Grantor) and to the fullest extent permitted by law, set off and apply any and all deposits (general or special, time or demand, provisional or final) and other sums credited by or due from the Secured Party to Grantor or subject to withdrawal by Grantor and any other property and securities at any time in the possession or control of the Secured Party against any sums due to Secured Party by Grantor, whether or not the Secured Party shall has made any demand therefor and although such sums may be contingent or unmatured.

 

        Section 6.  Defaults.  An event of default (“Event of Default”) shall exist hereunder if any of the following shall occur:

 

(a)           any representation or statement made by Grantor in the Note or any other document delivered to the Secured Party in connection with this Agreement or the Indebtedness, or in any financial statement or other information provided to the Secured Party pursuant hereto or thereto proving to have been false or misleading when made;

 

(b)           any default by the Grantor under any provision of the Note;

 

(c)           failure of the Grantor to deliver any financial information regarding the Grantor or any of the Grantor’s properties or operations which is requested at any time by the Secured Party;

 

(d)           any Transfer (as defined in the Note), or any disposition by the Grantor of any material part of the Grantor’s assets, or the suspension, dissolution or liquidation of any material aspect of the business conducted by the Grantor;

 

(e)           the occurrence of any event or circumstance which, under any agreement or evidence of indebtedness relating to any obligation of the Grantor for borrowed money other than this Agreement, assuming that any required notice had been given or lapse of time had occurred, would give the holder thereof or any other person the right to declare such obligation due and payable;

 

  

  

  

 

(f)           the failure of the Grantor, under any agreement relating to any obligation of the Grantor for borrowed money, which obligation is payable on demand, to pay such obligation upon such demand, in accordance with the terms of such agreement;

 

(g)           the failure of the Grantor to pay all taxes, assessments and other governmental charges as the same became due and payable;

 

(h)           the breach or invalidity of any term of this Agreement or the Note or any document or instrument entered into by the Grantor in connection therewith (collectively, the ”Loan Documents”) or the assertion by the Grantor or any other person or entity obligated hereunder or thereunder that any such term or any Loan Document is not binding on such person or entity;

 

(i)           any sale, transfer or assignment by the Grantor of its interest in the land or building (or both) located at 50 Jackson Drive, Cranford, New Jersey 07016 (collectively, the “Property”)  or any part thereof;

 

(j)           the Grantor is made a party to or the Property or any part thereof is made the subject of any action, suit or proceeding which, in the reasonable judgment of Secured Party, could materially adversely affect the value or economic viability of the Property or the ability of the Grantor or any Person to repay timely the Indebtedness, or the filing of a federal tax lien against the Grantor or any Person who controls Grantor or against the Property or any part thereof, unless the same is paid or provided for to the satisfaction of Secured Party or discharged of record within 30 days from the date of filing thereof;

 

(k)           any of the Loan Documents for any reason ceases to be in full force and effect or is declared to be null and void, or the validity or enforceability thereof shall be contested in writing by the Grantor, or the Grantor denies that it has any further liability under any Loan Documents; or

 

(l)           the Secured Party shall not have or shall cease to have a valid and perfected first priority security interest in the Collateral or any other collateral purported to be covered by this Agreement.

 

Section 7.  Secured Party’s Rights and Remedies.

 

(a)           As long as any Event of Default shall have occurred and is continuing, the Secured Party may, at its option, whether or not any amount under the Note is due, without notice or demand on the Grantor, take the following actions with respect to the Collateral:

 

(i) demand, collect, and receipt for any amounts relating thereto, as the Secured Party may determine;

 

(ii) commence and prosecute any actions in any court for the purposes of collecting any such Collateral and enforcing any other rights in respect thereof;

 

(iii) defend, settle or compromise any action brought and, in connection therewith, give such discharges or releases as the Secured Party may deem appropriate;

 

(iv) endorse checks, notes, drafts, acceptances, money orders, or other instruments or documents evidencing payment, relating or giving rise to the Collateral on behalf of and in the name of the Grantor; and

 

(vi) sell, assign, transfer, make any agreement in respect of, or otherwise deal with or exercise rights in respect of, any such Collateral or services which has given rise thereto, as fully and completely as though the Secured Party were the absolute owner thereof for all purposes.

 

  

  

  

 

(b)           Except as otherwise provided herein, the Secured Party shall have no duty as to the collection or protection of the Collateral or as to the preservation of any rights pertaining thereto, beyond the exercise of any reasonable care with respect to any Collateral in its possession. The Secured Party may sell, lease or otherwise dispose of the Collateral at a public or private sale, with or without having the Collateral at the place of sale, and upon such terms and in such manner as the Secured Party may determine, and the Secured Party may purchase any Collateral at any such public sale and, to the extent permitted by law, any private sale.  Unless the Collateral threatens to decline rapidly in value or is of the type customarily sold on a recognized market, the Secured Party shall send to the Grantor prior written notice (which, if given not less than ten (10) days prior to any sale, shall be deemed to be reasonable) of the time and place of any public sale of the Collateral or of the time after which any private sale or other disposition thereof is to be made.  The Grantor agrees that, upon any such sale, the Collateral shall be held by the purchaser free from all claims or rights of any kind and nature, including any equity of redemption or similar rights, and all such equity of redemption and similar rights are, to the extent permitted by law, hereby expressly waived and released by the Grantor.  In the event any consent, approval or authorization of any governmental agency is necessary to effectuate any such sale, the Grantor shall execute all applications or other instruments as may be required.

 

(c)           The Secured Party shall be entitled to retain and to apply the proceeds of any disposition of the Collateral, first, to its reasonable expenses of retaking, holding, protecting and maintaining, and preparing for disposition and disposing of, the Collateral, including reasonable attorneys’ fees and other legal expenses incurred by it in connection therewith; and second, to the payment of the Obligations in accordance with the Note.  Any surplus remaining after such application shall be paid to the Grantor or to whoever may be legally entitled thereto, provided that in no event shall the Grantor be credited with any part of the proceeds of the disposition of the Collateral until such proceeds shall has been received in cash by the Secured Party.  The Grantor shall remain liable for any deficiency.

 

(d)           The Secured Party shall have all other rights and remedies as provided in the Note.

 

Section 8.  Waivers.  The Grantor waives presentment, demand, notice, protest, notice of acceptance of this Agreement, notice of any Notes made, credit or other extensions granted, collateral received or delivered or any other action taken in reliance hereon and all other demands and notices of any description, except for such demands and notices as are expressly required to be provided to the Grantor under this Agreement or any other document.  The Grantor assents to any substitution, exchange or release of Collateral, to the addition or release of any party or person primarily or secondarily liable, to the acceptance of partial payment thereon and the settlement, compromise or adjustment of any thereof, all in such manner and at such time or times as the Secured Party may deem advisable, pursuant to the exercise of its rights hereunder.  The Secured Party may exercise its rights with respect to the Collateral without resorting, or regard, to other collateral or sources of reimbursement.  The Secured Party shall not be deemed to have waived any of its rights with respect to the Note or the Collateral unless such waiver is in writing and signed by the Secured Party.  No delay or omission on the part of the Secured Party in exercising any right shall operate as a waiver of such right or any other right.  A waiver on any one occasion shall not bar or waive the exercise of any right on any future occasion.  All rights and remedies of the Secured Party in the Note or the Collateral, whether evidenced hereby or by any other instrument or papers, are cumulative and not exclusive of any remedies provided by law or any other agreement, and may be exercised separately or concurrently.

 

Section 9.  Expenses.  In the event of any default by the Grantor, the Grantor shall be liable to the Secured Party, and shall promptly reimburse it on demand, for all expenses incurred by the Secured Party as a result of such default, including reasonable fees and disbursements of counsel and all expenses of collection.

 

  

  

  

       Section 10.  Notices.  Any notice or demand or request shall be in writing and shall be deemed to have been received and shall be effective on the day on which delivered if (a) personally delivered, (b) transmitted by telex, telecopier or telegram, or (c) mailed by certified mail or sent by courier service providing evidence of delivery (in which case such notice shall be deemed to be delivered on the date shown on any receipt or other evidence of delivery or refusal), and notices transmitted as provided in clauses (b) or (c), in the case of (i) the Secured Party, shall be addressed to the Secured Party at 50 Jackson Drive, Cranford, New Jersey 07016, or at any other address designated by the Secured Party for such purpose in a notice given to the Grantor in the manner herein provided, or (ii) the Grantor, shall be addressed to the Grantor at 50 Jackson Drive, Cranford, New Jersey 07016, Attention: Mr. Steven Kass (telecopier: (908) 272-9492), with a copy to Carter Ledyard & Milburn LLP, 2 Wall Street, New York, New York  10005, Attention:  Steven J. Glusband, (telecopier: 212-732-3232), or at any other address designated for such purpose by Grantor in a notice given to the Secured Party in the manner hereinabove provided.

 

Section 11.  Successors and Assigns.  This Agreement shall be binding upon the Grantor, their successors and assigns, and shall inure to the benefit of and be enforceable by the Secured Party and its successors and assigns.

 

Section 12.  Modification, Governing Law and Consent to Jurisdiction.  THIS AGREEMENT MAY NOT BE AMENDED OR MODIFIED EXCEPT BY A WRITING SIGNED BY THE GRANTOR AND THE SECURED PARTY.  THIS AGREEMENT AND THE TERMS, COVENANTS AND CONDITIONS HEREOF SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF THE STATE OF NEW JERSEY (WITHOUT GIVING EFFECT TO ANY CONFLICTS OF LAW PROVISIONS CONTAINED THEREIN).  GRANTOR HEREBY CONSENTS TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED IN THE STATE OF NEW JERSEY AND IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE OTHER NOTE DOCUMENTS  SHALL BE LITIGATED IN SUCH COURTS, PROVIDED THAT NOTHING IN THIS AGREEMENT SHALL BE DEEMED OR OPERATE TO PRECLUDE SECURED PARTY FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO COLLECT THE SECURED OBLIGATIONS, REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY FOR THE SECURED OBLIGATIONS, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER.

 

Section 13.  Section Headings.  Section headings are for convenience of reference only and are not a part of this Agreement.

 

Section 14.  JURY WAIVER.  THE SECURED PARTY (BY ITS ACCEPTANCE HEREOF) AND THE GRANTOR WAIVE (A) TRIAL BY JURY IN ANY LAWSUIT, PROCEEDING, COUNTERCLAIM, OR ANY OTHER ACTION BASED UPON, OR ARISING OUT OF THIS AGREEMENT, ANY RELATED INSTRUMENTS, ANY COLLATERAL OR THE DEALINGS, OR THE RELATIONSHIP, BETWEEN OR AMONG ANY OF THEM, (B) RIGHTS TO CONSOLIDATE ANY SUCH ACTION WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED OR (C) ANY CLAIM FOR CONSEQUENTIAL DAMAGES ARISING FROM ANY BREACH OF CONTRACT, TORT OR OTHER WRONG RELATING TO ANY OF THE OBLIGATIONS.  THE PROVISIONS OF THIS PARAGRAPH HAVE BEEN FULLY DISCUSSED BY THE SECURED PARTY AND THE GRANTOR, AND THESE PROVISIONS SHALL BE SUBJECT TO NO EXCEPTIONS.  NEITHER THE SECURED PARTY NOR THE GRANTOR HAS AGREED WITH OR REPRESENTED TO THE OTHER THAT THE PROVISIONS OF THIS PARAGRAPH WILL NOT BE FULLY ENFORCED IN ALL INSTANCES.

 

Section 15.  Termination.  This Agreement and shall terminate upon satisfaction in full of the Obligations.

 

  

  

  

 

 

IN WITNESS WHEREOF, the Grantor and the Secured Party has caused this Agreement to be duly executed as an instrument under seal as of the date first written above.

 

Tofutti Brands Inc.

By: /s/Steven Kass

Name:  Steven Kass

Title:   Chief Financial Officer

    /s/David Mintz

    David MintzEX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (“Agreement”) is entered into as of this 30th day of December, 2015 to be effective
December 31, 2015 (the “Effective Date”), by and between LSB Industries, Inc., a Delaware corporation (together with its successors and assigns, the “Company”), and Daniel D. Greenwell, an individual (the
“Executive”). 
 WHEREAS, the Company and the Executive desire to enter into this Agreement to set out the terms and
conditions for the continuing employment relationship between the Executive and the Company. 
 NOW, THEREFORE, in consideration of the
mutual covenants and agreements set forth herein and for other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto agree as follows: 

1. Term. The Company agrees to employ the Executive pursuant to the terms of this Agreement, and the Executive agrees to be so
employed, for a term of three (3) years (the “Initial Term”) commencing as of the Effective Date. On each anniversary of the Effective Date following the Initial Term, the term of this Agreement shall be automatically extended
for successive one-year periods, provided, however, that either party hereto may elect not to extend this Agreement by giving written notice to the other party at least one hundred and eighty (180) days prior to any such
anniversary date. Notwithstanding the foregoing, the Executive’s employment hereunder may be earlier terminated in accordance with Section 9 hereof, subject to Section 10 hereof. Terms used herein with initial
capitalization not otherwise defined are defined in Section 25. The period of time between the Effective Date and the termination of the Executive’s employment hereunder shall be referred to as the “Employment
Period.” 
 2. Position and Duties. During the Employment Period, the Executive shall serve as President and Chief Executive
Officer of the Company, shall report directly to the Company’s Board of Directors (the “Board”) and shall serve as a member of the Board. In his capacity as President and Chief Executive Officer, the Executive shall have the
duties, responsibilities and authorities customarily associated with the position of President and Chief Executive Officer in a company the size and nature of the Company. The Executive shall devote the Executive’s reasonable best efforts and
substantially all of the Executive’s business time to the performance of the Executive’s duties hereunder and the advancement of the business and affairs of the Company and shall be subject to, and shall comply in all material respects
with, the policies of the Company applicable to the Executive; provided that the Executive shall be entitled (i) to serve as a member of the board of directors of a reasonable number of other companies, subject to the advance approval of
the Board, which approval shall not be unreasonably withheld, (ii) to serve on civic, charitable, educational, religious, public interest or public service boards, and (iii) to manage the Executive’s personal and family investments,
in each case, to the extent such activities do not materially interfere, as determined by the Board in good faith, with the performance of the Executive’s duties and responsibilities hereunder. 

3. Place of Performance. During the Employment Period, the Executive shall be based primarily at the Company’s offices in Oklahoma
City, Oklahoma. The Executive shall not be required to relocate to Oklahoma City, Oklahoma from his primary residence and he shall be permitted to commute from his primary residence in Sioux City, Iowa. 

 4. Compensation and Benefits; Equity Awards. 

(a) Base Salary. During the Employment Period, the Company shall pay to the Executive a base salary (the “Base
Salary”) at the rate of no less than $800,000 per calendar year, less applicable deductions. The Base Salary shall be reviewed for increase by the Board no less frequently than annually and shall be increased in the discretion of the
Board and any such adjusted Base Salary shall constitute the “Base Salary” for purposes of this Agreement. The Base Salary shall be paid in substantially equal installments in accordance with the Company’s regular payroll procedures.

 (b) Annual Bonus. During the Employment Period, the Executive shall be paid an annual cash performance bonus (an “Annual
Bonus”) under the Company’s annual bonus plan (as in effect from time to time for senior executives) in respect of the 2016 fiscal year and each fiscal year that ends during the Employment Period, to the extent earned based on
performance against performance criteria. The performance criteria for any particular fiscal year shall be determined by the Compensation Committee of the Board (the “Committee”), in good faith, after consultation with the
Executive, no later than sixty (60) days after the commencement of the relevant bonus period. The Executive’s annual bonus opportunity shall be no less than 62.5% of the Executive’s Base Salary as of the beginning of the applicable
performance period (the “Target Bonus”), if target levels of performance for that year are achieved, up to a maximum of 125% of the Executive’s Base Salary. The Executive’s Annual Bonus for a bonus period shall be
determined by the Committee after the end of the applicable bonus period and shall be paid to the Executive when annual bonuses for that year are paid to other senior executives of the Company generally, but in no event later than March 15 of
the year following the year to which such Annual Bonus relates. 
 (c) Equity Awards. In each fiscal year during the Employment
Period, the Executive shall be granted a number of shares of restricted stock under the Equity Incentive Plan with a value equal to not less than 337.5% of the Executive’s then current Base Salary, with such number of shares of restricted stock
to be calculated based the Fair Market Value (as defined in the applicable plan) of a share of common stock on the date of grant (the “Annual Equity Award”). For each fiscal year commencing during the Employment Period, the Company shall
grant the Annual Equity Award on the applicable anniversary of the Effective Date (or the closest business day thereafter if such anniversary is a weekend). The terms and conditions applicable to any Annual Equity Award shall be determined by the
Committee in accordance with the Company’s applicable long-term incentive plan to the extent consistent with the terms of this Agreement and shall be no less favorable to the Executive than the terms applicable to any other senior executive of
the Company. Concurrent with the execution of this Agreement the Company shall grant to the Executive an award of restricted stock equal to no less than 337.5% of the Executive’s Base Salary of $800,000 (“Sign-On Grant”), with such
number of shares of restricted stock to be calculated based upon the Fair Market Value (as defined in the Company’s 2008 Incentive Stock Plan) of a share of common stock on the grant date. Upon the execution of this Agreement 15% of the Sign-On
Grant shall immediately vest and the remainder of the award shall vest one-third (1/3) on each anniversary of the Effective Date such that it shall 

  
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be fully vested on the third anniversary of the Effective Date. Vesting of Annual Equity Awards shall occur one-third on each anniversary of the date of grant and any outstanding equity awards
shall fully vest immediately prior to a Change in Control. The Sign-On Grant shall be awarded pursuant to the form of equity grant attached hereto as Exhibit A. 

(d) Vacation; Benefits. During the Employment Period, the Executive shall be entitled to four (4) weeks of paid vacation per
calendar year (as prorated for partial years) in accordance with the applicable policies of the Company, which shall be accrued and used in accordance with such policies. During the Employment Period, the Executive shall be entitled to participate
in any employee benefit plan that the Company has adopted or may adopt, maintain or contribute to for the benefit of its employees generally, subject to satisfying the applicable eligibility requirements, except to the extent such plans are
duplicative of the benefits otherwise provided to the Executive hereunder. The Executive’s participation will be subject to the terms of the applicable plan documents and generally applicable Company policies. The foregoing, however, shall not
be construed to require the Company to establish any such plans or to prevent the modification or termination of such plans once established. 

5. Expenses. The Company shall reimburse the Executive promptly for all expenses reasonably incurred by the Executive in the
performance of his duties in accordance with policies which may be adopted from time to time by the Company following presentation by the Executive of an itemized account, including reasonable substantiation, of such expenses. The Company shall pay
all reasonable commuting costs and temporary living expenses for the Executive while he is working at the Company’s offices in Oklahoma City, Oklahoma. To the extent any of the reimbursements described in Section 5 are includible in
the Executive’s income (and not eligible for a corresponding deduction on the Executive’s federal income taxes), the Company will pay to the Executive an amount, which after reducing such payment by the amount of any Federal, state or
local income or employment taxes payable by the Executive in connection therewith, will be sufficient to reimburse the Executive for his incremental taxes in connection with such reimbursements, such payment to be made to the Executive in a timely
fashion but in no event later than immediately following the filing of his Federal income tax return reflecting such income but in no event no later than the end of the year following the year in which such taxes were paid by the Executive. The
Company shall also reimburse the Executive’s attorney in 2016 directly for the costs associated with the negotiation of this Agreement and related documents, subject to a cap of $10,000. 

6. Confidentiality and Non-Disclosure. The Company and the Executive acknowledge and agree that during the Executive’s employment
with the Company, the Executive will have access to and may assist in developing Confidential Information and will occupy a position of trust and confidence with respect to the affairs and business of the Company and the Company Affiliates. The
Executive agrees that the following obligations are necessary to preserve the confidential and proprietary nature of Confidential Information and to protect the Company and the Company Affiliates against misuse of such information: 

(a) Non-Disclosure. After the Executive’s employment with the Company ends, the Executive will not use, disclose, copy or
transfer any Confidential Information unless authorized in writing by the Company. Anything herein to the contrary notwithstanding, the provisions of this Section 6(a) shall not apply (i) when disclosure is required by law or by any

  
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court, arbitrator, mediator or administrative or legislative body (including any committee thereof) with actual or apparent jurisdiction to order the Executive to disclose or make accessible any
information, provided that prior to any such disclosure the Executive shall provide the Company with reasonable notice of the requirements to disclose and an opportunity to object to such disclosure and the Executive shall cooperate with the
Company in filing such objection; (ii) as to information that becomes well known to the public other than due to the Executive’s violation of this Section 6(a); or (iii) to the extent necessary in connection with any
disputes between the parties with respect to the interpretation and/or enforcement of this Agreement and any other agreements between the parties. 

(b) Materials. The Executive will use Confidential Information only for normal and customary use in the Company’s business, as
determined reasonably and in good faith by the Executive. The Executive will return to the Company all Confidential Information and copies thereof and all other property of the Company or any Company Affiliate at any time upon the request of the
Company and in any event promptly after the Executive’s employment ends. The Executive agrees to identify and return to the Company any copies of any Confidential Information after the Executive ceases to be employed by the Company. Anything to
the contrary notwithstanding, nothing in this Section 6 shall prevent the Executive from retaining a home computer (provided all Confidential Information has been removed), papers and other materials of a personal nature, including
diaries, calendars and Rolodexes, information relating to his compensation or relating to reimbursement of expenses, information that may be needed for tax purposes, and copies of plans, programs and agreements relating to his employment or
termination thereof. 
 7. Non Solicitation/Non-Competition. 

(a) During the Non-Compete Period, the Executive shall not (A) directly solicit any, person or other entity in soliciting any
established customer for the purpose of a Competitive Enterprise providing and/or selling any products that are provided and/or sold by the Company or its subsidiaries to such established customer, or performing any services that are performed by
the Company or its subsidiaries for such established customer, (B) interfere with or damage (or attempt to interfere with or damage) any relationship and/or agreement between the Company or its subsidiaries and any established customer; or
(C) directly or indirectly solicit any employee of the Company or the Company Affiliates with a view toward inducing any such employee to go to work for another person or third party or to cease or end their employment relationship. 

(b) During the Non-Compete Period, the Executive shall not associate (including, but not limited to, association as a sole proprietor,
owner, employer, partner, principal, investor, joint venturer, shareholder, associate, employee, member, consultant, contractor, director or otherwise) with any Competitive Enterprise; provided, however, that Executive may own, as a
passive investor, securities of any such entity that has outstanding publicly traded securities so long as his direct holdings in any such entity shall not in the aggregate constitute more than one percent (1%) of the voting power of such
entity. The Executive acknowledges that this covenant has a unique, very substantial and immeasurable value to the Company, that the Executive has sufficient assets and skills to provide a livelihood for the Executive while such covenant remains in
force and that, as a result of the foregoing, in the event that the Executive breaches such covenant, monetary damages would be an insufficient remedy for the Company and equitable enforcement of the covenant would be proper. 

  
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 (c) If the restrictions contained in Section 7 shall be determined by any court of
competent jurisdiction to be unenforceable, Section 7 shall be modified in order for it to be enforceable to maximum allowed by law. 

(d) Conflicting Obligations and Rights. The Executive agrees to inform the Company of any apparent conflicts between the
Executive’s work for the Company and any obligations the Executive may have to preserve the confidentiality of another’s proprietary information or related materials before using the same on the Company’s behalf. The Company shall
receive such disclosures in confidence and consistent with the objectives of avoiding any conflict of obligations and rights or the appearance of any conflict of interest. 

(e) Enforcement. The Executive acknowledges that in the event of any breach of this Section 7, the business interests of
the Company and the Company Affiliates will be irreparably injured, the full extent of the damages to the Company and the Company Affiliates will be impossible to ascertain, monetary damages will not be an adequate remedy for the Company and the
Company Affiliates, and the Company will be entitled to enforce this Agreement by a temporary, preliminary and/or permanent injunction or other equitable relief, without the necessity of posting bond or security, which the Executive expressly
waives. The Executive understands that the Company may waive some of the requirements expressed in this Agreement, but that such a waiver to be effective must be made in writing and should not in any way be deemed a waiver of the Company’s
right to enforce any other requirements or provisions of this Agreement. The Executive agrees that each of the Executive’s obligations specified in this Agreement is a separate and independent covenant and that the unenforceability of any of
them shall not preclude the enforcement of any other covenants in this Agreement. 
 (f) No Other Restrictions. Except as otherwise
provide herein or in the Confidentiality and Assignment Agreement the Executive executed on September 1, 2015 (the “Confidentiality Agreement”), there are no other restrictions on the Executive’s employment following
termination of his employment. 
 8. Cooperation. Following any termination of employment, the Executive agrees to reasonably
cooperate (taking into account his other business and personal commitments) with any investigation, suit or claim involving the Company and of which the Executive has knowledge, provided any such cooperation is not adverse to his legal interests.
The Company agrees to reimburse the Executive for any costs incurred by him in connection with such cooperation, including payment of separate counsel for the Executive if he reasonably determines such separate representation is warranted by the
circumstances. 

  
 5 

 9. Termination of Employment. 

(a) Permitted Terminations. The Executive’s employment hereunder may be terminated during the Employment Period under the
following circumstances: 
 (i) Death. The Executive’s employment hereunder shall terminate upon the
Executive’s death. 
 (ii) By the Company. The Company may terminate the Executive’s employment: 

(A) Disability. For Disability; or 

(B) With or Without Cause. For Cause or without Cause. 

(iii) By the Executive. The Executive may terminate his employment for any reason or for no reason by giving thirty
(30) days advance Notice of Termination to the Company. 
 (b) Termination. Any termination of the Executive’s employment
by the Company or the Executive (other than because of the Executive’s death) shall be communicated by written Notice of Termination to the other party hereto in accordance with Section 12 hereof. For purposes of this Agreement, a
“Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon, if any, and shall set forth in reasonable detail the facts and circumstances claimed to provide a
basis for termination of the Executive’s employment under the provision so indicated. Termination of the Executive’s employment shall take effect on the Date of Termination. 

(c) Effect of Termination. Upon any termination of the Executive’s employment with the Company, and its subsidiaries, the
Executive shall resign from, and shall be considered to have simultaneously resigned from, all positions with the Company and all of its subsidiaries. 

10. Compensation Upon Termination. 

(a) Death. If the Executive’s employment is terminated during the Employment Period as a result of the Executive’s death
pursuant to Section 9(a)(i), the Employment Period shall terminate without further notice or any action required by the Company or the Executive’s legal representatives. Upon the Executive’s death, the Company shall pay or
provide to the Executive’s representative or estate (i) all Accrued Benefits, if any, to which the Executive is entitled, (ii) a lump sum payment of an amount equal to a pro rata portion (based upon the number of days the Executive
was employed during the calendar year in which the Date of Termination occurs) of the Annual Bonus based on the achievement of the applicable performance criteria for the year in which Executive’s employment terminates, payable at the time set
forth in Section 4(b) and (iii) the Executive’s outstanding equity awards shall vest pro-rata as of the Date of Termination based on the time the Executive was employed during the applicable three (3)-year vesting period.
Except as set forth herein, the Company shall have no further compensation obligations to the Executive (or the Executive’s legal representatives or estate) under this Agreement. 

(b) Disability. If the Company terminates the Executive’s employment during the Employment Period because of the Executive’s
Disability pursuant to Section 9(a)(ii)(A), the Company shall pay to the Executive (i) all Accrued Benefits, if any, to which the Executive is 

  
 6 

 
entitled, (ii) a lump sum payment of an amount equal to a pro rata portion (based upon the number of days the Executive was employed during the calendar year in which the Date of Termination
occurs) of the Annual Bonus based on the achievement of the applicable performance criteria for the year in which Executive’s employment terminates, payable at the time set forth in Section 4(b), and (iii) the Executive’s
outstanding equity awards shall vest pro-rata as of the Date of Termination based on the time the Executive was employed during the applicable three (3)-year vesting period. Except as set forth herein, the Company shall have no further compensation
obligations to the Executive (or the Executive’s legal representatives) under this Agreement. 
 (c) Termination by the Company for
Cause, or by the Executive without Good Reason. If, during the Employment Period, the Company terminates the Executive’s employment for Cause pursuant to Section 9(a)(ii)(B), or the Executive terminates his employment without
Good Reason, the Company shall pay to the Executive all Accrued Benefits, if any, to which the Executive is entitled. Except as set forth herein, the Company shall have no further compensation obligations to the Executive under this Agreement. 

(d) Certain Terminations Prior to or After a Change in Control. If, prior to the occurrence of a Change in Control, or after the
twenty-four (24) month protection period in Section 10(e) has expired, the Company terminates the Executive’s employment during the Employment Period other than for Cause, death or Disability or if the Executive terminates his
employment hereunder with Good Reason the Employment Period shall terminate upon the Date of Termination, (i) the Company shall pay or provide the Executive (or the Executive’s estate, if the Executive dies after such termination but
before receiving such amount) (A) all Accrued Benefits, if any, to which the Executive is entitled; (B) a lump sum payment of an amount equal to a pro rata portion (based upon the number of days the Executive was employed during the
calendar year in which the Date of Termination occurs) of the Annual Bonus based on the achievement of the applicable performance criteria for the year in which Executive’s employment terminates, payable as set forth in
Section 4(b); and (C) an amount equal to the product of (x) 2 and (y) the sum of the Executive’s (I) Base Salary, and (II) Target Bonus, payable in a lump sum on the first payroll date following the execution
(and non-revocation) of the general release of claims described in Section 10(g), subject to Section 10(h) and Section 24, (ii) all of the Executive’s outstanding equity awards shall fully vest as of the
Date of Termination, and (iii) the Executive and his covered dependents shall be entitled to continued participation on the same terms and conditions as applicable immediately prior to the Executive’s Date of Termination for the eighteen
(18) month period following the Date of Termination in such medical, dental, and hospitalization insurance coverage in which the Executive and his eligible dependents were participating immediately prior to the Date of Termination;
provided the Company agrees to impute as taxable income to the Executive an amount equal to the full actuarial cost of such coverage, for each month during which such coverage is in effect for the Executive and/or his eligible dependents but
only if and to the extent such imputation is required for the Executive to avoid being subject to tax under Section 105(h) of the Internal Revenue Code of 1986, as amended (the “Code”), with respect to any payment or reimbursement of
expenses made to the Executive or for the Executive and/or any of his eligible dependent’s benefit under such health care coverage. 

  
 7 

 (e) Certain Terminations Following a Change in Control. If, upon or within twenty-four
(24) months following the date of consummation of a Change in Control, the Company terminates the Executive’s employment other than for Cause, Death or Disability or if the Executive terminates his employment hereunder with Good Reason the
Employment Period shall terminate upon the Date of Termination, (i) the Company shall pay or provide the Executive (or the Executive’s estate, if the Executive dies after such termination but before receiving such amount) (A) all
Accrued Benefits, if any, to which the Executive is entitled; (B) a lump sum payment of an amount equal to a pro rata portion (based upon the number of days the Executive was employed during the calendar year in which the Date of Termination
occurs) of the Annual Bonus based on the achievement of the applicable performance criteria for the year in which Executive’s employment terminates, payable as set forth in Section 4(b); and (C) an amount equal to the product
of (x) three (3) and (y) the sum of the Executive’s (I) Base Salary, and (II) Target Bonus, payable in a lump sum on the first payroll date following the execution (and non-revocation) of the general release of claims
described in Section 10(g), subject to Section 10(h) and Section 24, (ii) all of the Executive’s outstanding equity awards shall fully vest as of the Date of Termination, and (iii) the Executive and
his covered dependents shall be entitled to continued participation on the same terms and conditions as applicable immediately prior to the Executive’s Date of Termination for the eighteen (18) month period following the Date of
Termination in such medical, dental, and hospitalization insurance coverage in which the Executive and his eligible dependents were participating immediately prior to the Date of Termination; provided the Company agrees to impute as taxable
income to the Executive an amount equal to the full actuarial cost of such coverage, for each month during which such coverage is in effect for the Executive and/or his eligible dependents but only if and to the extent such imputation is required
for the Executive to avoid being subject to tax under Section 105(h) of the Code, with respect to any payment or reimbursement of expenses made to the Executive or for the Executive and/or any of his eligible dependent’s benefit under such
health care coverage. 
 (f) Termination of Employment Upon Expiration of the Term. Upon a notice of non-renewal of the Employment
Period by either the Company or the Executive pursuant to Section 1 hereof, the Executive’s employment shall terminate at the end of the Employment Period. In addition, any notice of non-renewal of the Employment Period by the
Company pursuant to Section 1 (assuming the Executive was willing and able to continue to be employed) shall be treated as a termination without Cause under this Agreement and the Executive shall be entitled to severance under the terms
of either Sections 10(d) or 10(e) as applicable upon the termination of Executive’s employment at the end of the Employment Period. 

(g) Release. As a condition of receiving any and all amounts payable and benefits or additional rights provided pursuant to this
Agreement beyond the Accrued Benefits, the Executive must execute and deliver to the Company and not revoke a general release of claims in favor of the Company in substantially the form attached on Exhibit B hereto. Such release must be
executed and delivered (and no longer subject to revocation, if applicable) within sixty (60) days following the Executive’s Date of Termination. The Company shall deliver to the Executive the appropriate form of release of claims for the
Executive to execute within five (5) business days following the Date of Termination. 
 (h) Certain Payment Delays.
Notwithstanding anything to the contrary set forth herein, to the extent that the payment of any amount described in Sections 10(d) or (e) 

  
 8 

 
constitute “nonqualified deferred compensation” for purposes of Code Section 409A (as defined in Section 24 hereof), any such payment scheduled to occur during the
first sixty (60) days following the termination of employment shall not be paid until the first regularly scheduled pay period following the sixtieth (60th) day following such termination and shall include payment of any amount that was
otherwise scheduled to be paid prior thereto. 
 (i) No Offset. In the event of termination of his employment, the Executive shall
be under no obligation to seek other employment and there shall be no offset against amounts due to him on account of any remuneration or benefits provided by any subsequent employment he may obtain. The Company’s obligation to make any payment
pursuant to, and otherwise to perform its obligations under, this Agreement shall not be affected by any offset, counterclaim or other right that the Company or the Company Affiliates may have against the Executive for any reason. 

(j) 280G Payments. In the event the Company determines in good faith that any payments, entitlements or benefits (whether made or
provided pursuant to this Agreement or otherwise, including by the person or entity affecting a change in control) provided to the Executive constitute “parachute payments” within the meaning of Section 280G of the Code, and may be
subject to an excise tax imposed pursuant to Section 4999 of the Code, then, if the Executive would be placed in a better after-tax position, the Executive’s “parachute payments” will be reduced to an amount determined by the
Company in good faith to be the maximum amount that may be provided to the Executive without resulting in any portion of such “parachute payment” being subject to such excise tax. The payment reduction contemplated by the preceding
sentence shall be implemented as follows: first, by reducing any payments to be made to the Executive under Section 10(d)(i)(B) and (C) or Section 10(e)(i)(B) and (C), as applicable; second, by reducing any other cash payments to be
made to the Executive but only if the value of such cash payments is not greater than the parachute value of such payments; third, by cancelling the acceleration of vesting of any restricted stock or restricted stock unit awards solely with respect
accelerated vesting upon a change in control such that such awards will continue to vest on their original schedules; fourth, by cancelling the acceleration of vesting of any stock options or stock appreciation rights solely with respect accelerated
vesting upon a change in control such that such awards will continue to vest on their original schedules, fifth, by eliminating the Company’s payment of the cost of any post-termination continuation of medical and dental benefits for the
Executive and his eligible dependents and sixth, by reducing any equity awards. In the case of the reductions to be made pursuant to each of the above-mentioned clauses, the payment and/or benefit amounts to be reduced and the acceleration of
vesting to be cancelled shall be reduced or cancelled in the inverse order of their originally scheduled dates of payment or vesting, as applicable, and shall be so reduced (x) only to the extent that the payment and/or benefit otherwise to be
paid or the vesting of the award that otherwise would be accelerated, would be treated as a “parachute payment” within the meaning of Section 280(G)(b)(2)(A) of the Code, (y) only to the extent necessary to achieved the required
reduction hereunder and (z) all amounts that are not subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or (c) shall be reduced before any amounts that are subject to calculation under Treas. Reg. §1.280G-1,
Q&A-24(b) or (c). Any determinations that are made pursuant to this Section 10(j) shall be made by a nationally recognized certified public accounting firm that shall be selected by the Company (and paid by the Company) prior to any
transaction that is subject to Code Section 280G and reasonably acceptable to the Executive (the “Accountant”), 

  
 9 

 
which determination shall be certified by the Accountant and set forth in a certificate delivered to the Executive setting forth in reasonable detail the basis of the Accountant’s
determinations. In connection with this determination the Accountant shall value the non-compete and other restrictions on the Executive’s activities. 

11. Indemnification. The Executive shall be indemnified and held harmless by the Company during the Employment Period and following any
termination of his employment for any reason whatsoever in the same manner as would any other key management employee of the Company with respect to acts or omissions occurring on or prior to the termination of employment of the Executive. In
addition, during the Employment Period and for a period of three (3) years following the termination of Executive’s employment for any reason whatsoever, the Executive shall be covered by a Company-held directors’ and officers’
liability insurance policy covering acts or omissions occurring on or prior to the termination of employment of the Executive. The Executive shall also remain entitled to the protections of the two indemnification agreements he has entered into with
the Company dated as of October 14, 2015 (“Indemnification Agreements”). 
 12. Notices. All notices, demands,
requests, or other communications which may be or are required to be given or made by any party to any other party pursuant to this Agreement shall be in writing and shall be hand delivered, mailed by first-class registered or certified mail, return
receipt requested, postage prepaid, delivered by overnight air courier addressed as follows: 
 If to the Company: 

LSB Industries, Inc. 
 16 S
Pennsylvania Ave. 
 Oklahoma City, OK 73107 

Attention: Chief Executive Officer 

If to the Executive: 
 His
primary address last shown on the Company’s records. 
 Each party may designate by notice in writing a new address to which any notice, demand,
request or communication may thereafter be so given, served or sent. Each notice, demand, request, or communication that shall be given or made in the manner described above shall be deemed sufficiently given or made for all purposes at such time as
it is delivered to the addressee (with the return receipt, the delivery receipt, or the affidavit of messenger being deemed conclusive but not exclusive evidence of such delivery) or at such time as delivery is refused by the addressee upon
presentation. 
 13. Severability. The invalidity or unenforceability of any one or more provisions of this Agreement, including,
without limitation, Sections 6 or 7, shall not affect the validity or enforceability of the other provisions of this Agreement, which shall remain in full force and effect. 

14. Survival. It is the express intention and agreement of the parties hereto that the provisions of Sections 6, 7, 8, 10, 11, 12,
13, 15, 16, 17, 19, 20, 21, 23, 24 and 25 hereof and 

  
 10 

 
this Section 14 shall survive the termination of employment of the Executive or the termination or expiration of the Employment Period. In addition, all obligations of the Company to
make payments hereunder shall survive any expiration of the Employment Period on the terms and conditions set forth herein. 
 15.
Assignment. The rights and obligations of the parties to this Agreement shall not be assignable or delegable, except that (i) in the event of the Executive’s death, the personal representative or legatees or distributees of the
Executive’s estate, as the case may be, shall have the right to receive any amount owing and unpaid to the Executive hereunder and (ii) the rights and obligations of the Company hereunder shall be assignable and delegable in connection
with any subsequent merger, consolidation, sale of all or substantially all of the assets or equity interests of the Company or similar transaction involving the Company or a successor corporation. Unless provided by applicable law, the Company
shall require any successor to the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. 

16. Binding Effect. Subject to any provisions hereof restricting assignment, this Agreement shall be binding upon the parties hereto
and shall inure to the benefit of the parties and their respective heirs, devisees, executors, administrators, legal representatives, successors and assigns. 

17. Amendment; Waiver. This Agreement shall not be amended, altered or modified except by an instrument in writing duly executed by the
party against whom enforcement is sought. Neither the waiver by either of the parties hereto of a breach of or a default under any of the provisions of this Agreement, nor the failure of either of the parties, on one or more occasions, to enforce
any of the provisions of this Agreement or to exercise any right or privilege hereunder, shall thereafter be construed as a waiver of any subsequent breach or default of a similar nature, or as a waiver of any such provisions, rights or privileges
hereunder. 
 18. Headings. Section and subsection headings contained in this Agreement are inserted for convenience of reference
only, shall not be deemed to be a part of this Agreement for any purpose, and shall not in any way define or affect the meaning, construction or scope of any of the provisions hereof. 

19. Governing Law. This Agreement, the rights and obligations of the parties hereto, and any claims or disputes relating thereto, shall
be governed by and construed in accordance with the laws of the State of Oklahoma (but not including any choice of law rule thereof that would cause the laws of another jurisdiction to apply). 

20. Dispute Resolution/Waiver of Jury Trial. Each of the parties agrees that any dispute between the parties shall be resolved only in
the courts of the State of Oklahoma or the United States District Court for the Western District of Oklahoma and the appellate courts having jurisdiction of appeals in such courts. In that context, and without limiting the generality of the
foregoing, each of the parties hereto irrevocably and unconditionally (a) submits in any proceeding relating to this Agreement or the Executive’s employment by the Company or any Company Affiliate, or the termination of such employment, or
for the recognition and 

  
 11 

 
enforcement of any judgment in respect thereof (a “Proceeding”), to the exclusive jurisdiction of the courts of the State of Oklahoma, located in Oklahoma County, the United
States District Court for the Western District of Oklahoma, and appellate courts having jurisdiction of appeals from any of the foregoing and agrees that all claims in respect of any such Proceeding shall be heard and determined in such Oklahoma
State court or, to the extent permitted by law, in such federal court, (b) consents that any such Proceeding may and shall be brought in such courts and waives any objection that the Executive or the Company may now or thereafter have to the
venue or jurisdiction of any such Proceeding in any such court or that such Proceeding was brought in an inconvenient court and agrees not to plead or claim the same, (c) waives all right to trial by jury in any Proceeding (whether based on
contract, tort or otherwise) arising out of or relating to this Agreement or the Executive’s employment by the Company or any Company Affiliate, or the termination of such employment, or the Executive’s or the Company’s performance
under, or the enforcement of, this Agreement, (d) agrees that service of process in any such Proceeding may be effected by mailing a copy of such process by registered or certified mail (or any substantially similar form of mail), postage
prepaid, to such party at the Executive’s or the Company’s address as provided in Section 12 hereof, and (e) agrees that nothing in this Agreement shall affect the right to effect service of process in any other manner
permitted by the laws of the State of Oklahoma. In addition, if the Executive substantially prevails on any claim that is the matter of such dispute, the Company shall promptly reimburse the Executive for his legal fees. 

21. Entire Agreement. This Agreement constitutes the entire agreement between the parties respecting the employment of the Executive,
there being no representations, warranties or commitments except as set forth herein and supersedes and replaces all other agreements related to the subject matter hereof, provided that any outstanding equity awards, the Indemnification Agreements
and the Confidentiality Agreement shall continue to be in full force and effect. In addition, the Company shall pay to the Executive all amounts owed to the Executive under the employment agreement between the Company and the Executive dated as of
September 1, 2015 up through the Effective Date and the Executive’s rights under Section 8 of such agreement shall continue in full force and effect. In the event there is a conflict between any provision of this Agreement and any
other agreement, plan, policy or arrangement of the Company or any Company Affiliate, the provision most favorable to the Executive shall govern. 

22. Counterparts. This Agreement may be executed in two counterparts, each of which shall be an original and all of which shall be
deemed to constitute one and the same instrument. 
 23. Withholding. The Company may withhold from any benefit payment under this
Agreement all federal, state, city or other taxes as shall be required pursuant to any law or governmental regulation or ruling. 
 24.
Section 409A. 
 (a) The intent of the parties is that payments and benefits under this Agreement comply with Section 409A
of the Code and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) or an exemption therefrom and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in

  
 12 

 
compliance therewith. If the Executive notifies the Company (with specificity as to the reason therefor) that the Executive believes that any provision of this Agreement (or of any award of
compensation, including equity compensation or benefits) would cause the Executive to incur any additional tax or interest under Code Section 409A and the Company concurs with such belief or the Company (without any obligation whatsoever to do
so) independently makes such determination, the Company shall, after consulting with the Executive, reform such provision to attempt to comply with Code Section 409A through good faith modifications to the minimum extent reasonably appropriate
to conform with Code Section 409A. To the extent that any provision hereof is modified in order to comply with Code Section 409A such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain
the original intent and economic benefit to the Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. 

(b) A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the
payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of this
Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” If the Executive is deemed on the date of termination to be a “specified employee”
within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered deferred compensation under Code Section 409A payable on account of a “separation
from service,” such payment or benefit shall be made or provided at the date which is the earlier of (A) the expiration of the six (6)-month period measured from the date of such “separation from service” of the Executive, and
(B) the date of the Executive’s death, to the extent required under Code Section 409A. Upon the expiration of the foregoing delay period, all payments and benefits delayed pursuant to this Section 24(b) (whether they would
have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in
accordance with the normal payment dates specified for them herein. 
 (c) To the extent that reimbursements or other in-kind benefits
under this Agreement constitute “nonqualified deferred compensation” for purposes of Code Section 409A, (A) all expenses or other reimbursements hereunder shall be made on or prior to the last day of the taxable year following
the taxable year in which such expenses were incurred by the Executive, (B) any right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (C) no such reimbursement, expenses
eligible for reimbursement, or in-kind benefits provided in any taxable year shall in any way affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year. 

(d) For purposes of Code Section 409A, the Executive’s right to receive any installment payments pursuant to this Agreement shall
be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days, (i) the actual date of payment within the specified period shall
be within the sole discretion of the Company and, (ii) if such payment qualifies as non-qualified deferred compensation under Section 409A and it can be paid in one of two calendar years, it shall be paid in the second calendar year. 

(e) Notwithstanding any other provision of this Agreement to the contrary, in no event shall any payment under this Agreement that
constitutes “nonqualified deferred compensation” for purposes of Code Section 409A be subject to offset by any other amount unless otherwise permitted by Code Section 409A. 

  
 13 

 25. Definitions. 

(a) “Accrued Benefits” means (i) any unpaid Base Salary through the Date of Termination; (ii) any earned but
unpaid Annual Bonus for a performance year that has ended on or prior to the Date of Termination; (iii) any accrued and unpaid vacation and/or sick days; (iv) any amounts or benefits owing to the Executive or to the Executive’s
beneficiaries under the then applicable benefit plans of the Company (excluding any severance plan, program, agreement or arrangement); (v) any rights or entitlements under any other agreements between the Executive and the Company, including,
without limitation, the Indemnification Agreements and any outstanding equity award agreements; and (vi) any amounts owing to the Executive for reimbursement of expenses properly incurred by the Executive prior to the Date of Termination and
which are reimbursable in accordance with Section 5 (including any gross-up payment required thereunder). Amounts payable under (A) clauses (i), (ii) and (iii) shall be paid promptly after the Date of Termination,
(B) clause (iv) shall be paid in accordance with the terms and conditions of the applicable plan, program or arrangement; (C) clause (v) shall be treated in accordance with the applicable agreement; and (D) clause
(vi) shall be paid in accordance with the terms of the applicable expense policy or Section 5, as applicable. 
 (b)
“Cause” means (i) the Executive’s conviction of, or plea of nolo contendere to, a felony (other than for a traffic violation); (ii) the Executive’s continued failure to substantially perform the Executive’s
material duties hereunder (other than due to a mental or physical impairment) after receipt of written notice from the Company that specifically identifies the manner in which the Executive has substantially failed to perform the Executive’s
material duties and specifies the manner in which the Executive may substantially perform his material duties in the future; (iii) an act of fraud or gross or willful material misconduct by the Executive; or (iv) the Executive’s
material breach of Sections 7(a) and 7(b). Anything herein to the contrary notwithstanding, the Executive shall not be terminated for “Cause” hereunder unless (A) written notice stating the basis for the termination is
provided to the Executive, (B) as to clauses (ii) or (iv) of this paragraph, he fails to cure such neglect or conduct within thirty (30) days following receipt of such notice, (C) he has an opportunity (represented by
counsel) to address a meeting of the Board, and (D) after such meeting (or if the Executive declines to meet), there is a 75% vote of the Board (not counting the Executive) to terminate his employment for Cause. 

(c) “Change in Control” means: 

(i) A “change in the ownership of the Company” which shall occur on the date that any one person, or more than one person acting as
a group, acquires ownership of stock in the Company that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Company as of the Effective Date; however,
if any one person or more than one person acting as a group is 

  
 14 

 
considered to own more than 50% of the total fair market value or total voting power of the stock of the Company, the acquisition of additional stock by the same person or persons will not be
considered a “change in the ownership of the Company” (or to cause a “change in the effective control of the Company” within the meaning of paragraph (ii) below) and an increase of the effective percentage of stock owned by
any one person, or persons acting as a group, as a result of a transaction in which the Company acquires its stock in exchange for property will be treated as an acquisition of stock for purposes of this paragraph; provided, further, however, that
for purposes of this paragraph (i), any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the Company shall not constitute a Change in Control. This paragraph
(i) applies only when there is a transfer of the stock of the Company (or issuance of stock) and stock in the Company remains outstanding after the transaction; 

(ii) A “change in the effective control of the Company” which shall occur on the date that either (A) any one person, or more
than one person acting as a group, acquires (or has acquired during the twelve month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of the Company possessing 30% or more of the total voting
power of the stock of the Company, except for any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the Company; or (B) a majority of the members of the Board are
replaced during any twelve-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of a “change in the effective control of
the Company,” if any one person, or more than one person acting as a group, is considered to effectively control the Company within the meaning of this paragraph (ii) after the Effective Date, the acquisition of additional control of the
Company by the same person or persons is not considered a “change in the effective control of the Company,” or to cause a “change in the ownership of the Company” within the meaning of paragraph (i) above; or 

(iii) A “change in the ownership of a substantial portion of the Company’s assets” which shall occur on the date that any one
person, or more than one person acting as a group, acquires (or has acquired during the twelve month period ending on the date of the most recent acquisition by such person or persons) assets of the Company that have a total gross fair market value
equal to or more than 40% of the total gross fair market value of all the assets of the Company immediately prior to such acquisition or acquisitions. For this purpose, gross fair market value means the value of the assets of the Company, or the
value of the assets being disposed of, determined without regard to any liabilities associated with such assets. Any transfer of assets to an entity that is controlled by the stockholders of the Company immediately after the transfer, as provided in
guidance issued pursuant to Code Section 409A, shall not constitute a Change in Control. 
 For purposes of the definition of Change in Control, the
provisions of Section 318(a) of the Code regarding the constructive ownership of stock will apply to determine stock ownership; provided, that, stock underlying unvested options (including options exercisable for stock that is not substantially
vested) will not be treated as owned by the individual who holds the option. 

  
 15 

 (d) “Company Affiliate” means any entity controlled by, in control of, or under
common control with, the Company. 
 (e) “Competitive Enterprise” means (i) a business enterprise that engages in
nitrogen and climate control in competition with the Company or its subsidiaries (the “Company’s Business”) (a) in the United States of America, or (b) in any other country where the Company or its subsidiaries
operates facilities or sells such products. Notwithstanding the foregoing, in the event a business enterprise (including, without limitation, any entity, or private equity or hedge fund) has one or more lines of business that do not involve the
Company’s Business, the Executive shall be permitted to associate with such business enterprise if, and only if, the Executive does not participate in, or have supervisory authority with respect to, any line of business involving the
Company’s Business. 
 (f) “Confidential Information” means all non-public information concerning trade secrets,
know-how, software, developments, inventions, processes, technology, designs, financial data, strategic business plans or any proprietary or confidential information, documents or materials in any form or media, including any of the foregoing
relating to research, operations, finances, current and proposed products and services, vendors, customers, advertising and marketing, and other non-public, proprietary, and confidential information of the Company or the Company Affiliates.
Notwithstanding anything to the contrary contained herein, the general skills, knowledge and experience gained during the Executive’s employment with the Company, information publicly available or generally known within the industry or trade in
which the Company competes and information or knowledge possessed by the Executive prior to his employment by the Company, shall not be considered Confidential Information. 

(g) “Date of Termination” means (i) if the Executive’s employment is terminated by the Executive’s death, the
date of the Executive’s death; (ii) if the Executive’s employment is terminated because of the Executive’s Disability pursuant to Section 9(a)(ii)(A), thirty (30) days after Notice of Termination, provided
that the Executive shall not have returned to the performance of the Executive’s duties on a full-time basis during such thirty (30)-day period; (iii) if the Executive’s employment is terminated during the Employment Period by the
Company pursuant to Section 9(a)(ii)(B) or by the Executive pursuant to Section 9(a)(iii), the date specified in the Notice of Termination consistent with this Agreement; or (v) if the Executive’s employment is
terminated upon the expiration of the Employment Period pursuant to Section 1, the last day of the Employment Period. 
 (h)
“Disability” means the inability of the Executive to perform the Executive’s material duties hereunder due to a physical or mental injury, infirmity or incapacity, which is expected to exceed one hundred eighty (180) days
(including weekends and holidays) in any three hundred sixty-five (365)-day period, as determined by the Executive’s treating physician in his or her reasonable discretion. 

(i) “Good Reason” means (i) any material diminution in the Executive’s job duties, authorities or responsibilities
(including, without limitation, the removal of the Executive as Chief Executive Officer or as President or as a member of the Board, the Executive failing to be the senior-most executive officer in the Company, the Executive failing to be the Chief
Executive Officer and a member of the Board, of any successor entity, including the ultimate 

  
 16 

 
parent, or the Company’s stock no longer being publicly traded); (ii) a reduction in the Executive’s Base Salary or Target Bonus as a percentage of Base Salary or the failure to
grant any Annual Equity Award as required in Section 4(c); (iii) the failure of the Executive to report solely and directly to the Board (including any successor board of directors); (iv) the assignment of duties substantially
inconsistent with the Executive’s status as Chief Executive Officer and President of the Company; (v) a relocation of the Executive’s primary place of employment to a location more than fifty (50) miles further from the
Executive’s primary residence than the current location of the Company’s offices in Oklahoma City, Oklahoma; (vi) any other material breach of this Agreement by the Company; or (vii) the failure of the Company to obtain the
assumption in writing of its obligations under the Agreement by any successor to all or substantially all of the assets of the Company after a merger, consolidation, sale or similar transaction in which such Agreement is not assumed by operation of
law. In order to invoke a termination for Good Reason, (A) the Executive must provide written notice within ninety (90) days of the later of the occurrence, or the Executive’s knowledge, of any event of “Good Reason,”
(B) the Company must fail to cure such event within thirty (30) days of the giving of such notice and (C) the Executive must provide a Notice of Termination within thirty (30) days following the expiration of the Company’s
cure period. 
 (j) “Non-Compete Period” means the period commencing on the Effective Date and ending twenty four
(24) months after the Executive’s Date of Termination 
 [Remainder of Page Intentionally Left Blank] 

IN WITNESS WHEREOF, the undersigned have duly executed and delivered this Agreement, or have caused this Agreement to be duly executed and
delivered on their behalf. 
  

			
	LSB INDUSTRIES, INC.
		
	By:	 	 /s/ Mark T. Behrman

	Name:	 	 Mark T. Behrman

	Title:	 	 Chief Financial Officer

 

					
	EXECUTIVE
		
	/s/ Daniel D. Greenwell	 	12-31-15
	Daniel D. Greenwell	 	

  
 17 

 Exhibit A 

(Restricted Stock Award Agreement) 

 Exhibit B 

(Form of Release) 

 EXHIBIT B 

GENERAL RELEASE 

I, Daniel D. Greenwell, in consideration of and subject to the performance by LSB Industries, Inc. (together with its affiliated
companies and subsidiaries and its successors and assigns, the “Company”), of its obligations under Section 9 of the Employment Agreement, dated as of December 30, 2015 (the “Agreement”), do hereby release
and forever discharge as of the date hereof the Company and its respective affiliates and subsidiaries and all present, former and future directors, officers, agents, representatives, employees, successors and assigns of the Company and/or its
respective affiliates and subsidiaries and direct or indirect owners (collectively, the “Released Parties”) to the extent provided herein (this “General Release”). Terms used herein but not otherwise defined shall
have the meanings given to them in the Agreement. 
 1. I understand that, other than the Accrued Benefits, the payments or benefits paid or
granted to me under Section 9 of the Agreement represent, in part, consideration for signing this General Release and are not salary, wages or benefits to which I was already entitled. I understand and agree that I will not receive the payments
and benefits specified in Section 9 of the Agreement, other than the Accrued Benefits, unless I execute this General Release and do not revoke this General Release within the time period permitted hereafter. Such payments and benefits will not
be considered compensation for purposes of any employee benefit plan, program, policy or arrangement maintained or hereafter established by the Company or its affiliates. 

2. Except as provided in paragraph 4 below and except for the provisions of the Agreement which expressly survive the termination of my
employment with the Company, I knowingly and voluntarily (for myself, my heirs, executors, administrators and assigns) release and forever discharge the Company and the other Released Parties from any and all claims, suits, controversies, actions,
causes of action, cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages, other damages, claims for costs and attorneys’ fees, or liabilities of any nature whatsoever in law and in
equity, both past and present (through the date that this General Release becomes effective and enforceable) and whether known or unknown, suspected, or claimed against the Company and/or any of the Released Parties which I, my spouse, or any of my
heirs, executors, administrators or assigns, ever had, now have, or hereafter may have, by reason of any matter, cause, or thing whatsoever, from the beginning of my initial dealings with the Company to the date of this General Release, and
particularly, but without limitation of the foregoing general terms, any claims arising from or relating in any way to my employment relationship with Company, the terms and conditions of that employment relationship, and the termination of that
employment relationship (including, but not limited to, any allegation, claim or violation, arising under: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967, as
amended (including the Older Workers Benefit Protection Act), the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the
Employee Retirement Income Security Act of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; or their state or local counterparts; or 

 
under any other federal, state or local civil or human rights law, or under any other local, state, or federal law, regulation or ordinance; or under any public policy, contract or tort, or under
common law; or arising under any policies, practices or procedures of the Company; or any claim for wrongful discharge, breach of contract, infliction of emotional distress, defamation, or any claim for costs, fees, or other expenses, including
attorneys’ fees incurred in these matters) (all of the foregoing collectively referred to herein as the “Claims”). I understand and intend that this General Release constitutes a general release of all claims and that no
reference herein to a specific form of claim, statute or type of relief is intended to limit the scope of this General Release. 
 3. I
represent that I have made no assignment or transfer of any right, claim, demand, cause of action, or other matter covered by paragraph 2 above. 

4. I agree that this General Release does not waive or release any rights or claims that I may have under the Age Discrimination in Employment
Act of 1967 which arise after the date I execute this General Release. I acknowledge and agree that my separation from employment with the Company in compliance with the terms of the Agreement shall not serve as the basis for any claim or action
(including, without limitation, any claim under the Age Discrimination in Employment Act of 1967). Notwithstanding anything herein to the contrary, I am not waiving any of the following (and definition of “Claims” shall not include these
claims or rights): (i) any claim or right to enforce the Agreement or this General Release; (ii) any claims which arise after the date of this General Release; (iii) my rights as a shareholder of the Company; and (iv) my rights
to be indemnified and/or advanced expenses, including pursuant to the Company’s corporate governance documents or the Indemnification Agreements (as defined in the Agreement) or, if greater, applicable law and my rights to be covered under any
applicable directors’ and officers’ insurance liability policies. 
 5. I agree that I hereby waive all rights to sue or obtain
equitable, remedial or punitive relief from any or all Released Parties of any kind whatsoever with respect to claims released by me herein, including, without limitation, reinstatement, back pay, front pay, and any form of injunctive relief.
Notwithstanding the foregoing, I acknowledge that I am not waiving and am not being required to waive any right that cannot be waived under law, including the right to file an administrative charge or participate in an administrative investigation
or proceeding; provided, however, that I disclaim and waive any right to share or participate in any monetary award resulting from the prosecution of such charge or investigation or proceeding. 

6. In signing this General Release, I acknowledge and intend that it shall be effective as a bar to each and every one of the Claims
hereinabove mentioned or implied. I expressly consent that this General Release shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected Claims
(notwithstanding any state or local statute that expressly limits the effectiveness of a general release of unknown, unsuspected and unanticipated Claims), if any, as well as those relating to any other Claims hereinabove mentioned or implied. I
acknowledge and agree that this waiver is an essential and material term of this General Release and that without such waiver the Company would not have agreed to the terms of the Agreement. I further agree that in the event that I should bring a
Claim seeking damages against the Company, or in the event that I should seek to recover against the Company in any Claim brought by a governmental agency on my behalf, this General Release shall serve as a complete defense to such Claims to the
maximum extent permitted by law. I further agree that I am not aware of any pending Claim, or of any facts that could give rise to a Claim, of the type described in paragraph 2 as of the execution of this General Release. 

  
 2 

 7. I agree that neither this General Release, nor the furnishing of the consideration for this
General Release, shall be deemed or construed at any time to be an admission by the Company, any Released Party or myself of any improper or unlawful conduct. 

8. I agree that I will forfeit all amounts payable by the Company pursuant to the Agreement if I challenge the validity of this General
Release. I also agree that if I violate this General Release by suing the Company or the other Released Parties with respect to Claims released by me herein, I will pay all costs and expenses of defending against the suit incurred by the Released
Parties, including reasonable attorneys’ fees, and return all payments received by me pursuant to the Agreement on or after the termination of my employment. I further agree that if I materially violate any of my post-employment obligations
under Sections 6 or 7 of the Agreement, I will also forfeit any cash severance amounts payable by the Company pursuant to either Section 10(d) or Section 10(e) of the Agreement, as applicable, other than the Accrued Benefits, and
will return any such sums already paid, on an after-tax basis, to the Company; provided that no such payments shall be subject to forfeiture and/or repayment unless the Company has provided me with written notice of the events giving rise to such
forfeiture and/or repayment and I have not ceased to engage in such activities within fifteen (15) days of my receipt of such written notice. 

9. I agree that this General Release is confidential and agree not to disclose any information regarding the terms of this General Release,
except to my immediate family and any tax, legal or other counsel that I have consulted regarding the meaning or effect hereof (and I will instruct each of the foregoing not to disclose the same to anyone) or as required by law or to the extent
reasonably necessary in connection with any dispute between me and the Company regarding this General Release. 
 10. Any non-disclosure
provision in this General Release does not prohibit or restrict me (or my attorney) from responding to any inquiry about this General Release or its underlying facts and circumstances by the Securities and Exchange Commission (SEC), the Financial
Industry Regulatory Authority (FINRA), or any other self-regulatory organization or governmental entity. 
 11. I hereby acknowledge that
Sections 6, 7, 8, 10, 11, 12, 13, 15, 16, 17, 19, 20, 21, 23, 24 and 25 of the Agreement shall survive my execution of this General Release. (need to make sure these match up pursuant to new numbering). 

12. I represent that I am not aware of any Claim by me, and I acknowledge that I may hereafter discover Claims or facts in addition to or
different than those which I now know or believe to exist with respect to the subject matter of the release set forth in paragraph 2 above and which, if known or suspected at the time of entering into this General Release, may have materially
affected this General Release and my decision to enter into it. 
 13. Notwithstanding anything in this General Release to the contrary,
this General Release shall not relinquish, diminish, or in any way affect any rights or claims arising out of any breach by the Company or by any Released Party of the Agreement after the date hereof. 

14. Whenever possible, each provision of this General Release shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this 

  
 3 

 
General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not
affect any other provision or any other jurisdiction, but this General Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. This General
Release constitutes the complete and entire agreement and understanding among the parties, and supersedes any and all prior or contemporaneous agreements, commitments, understandings or arrangements, whether written or oral, between or among any of
the parties, in each case concerning the subject matter hereof. 
 BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT: 

 

	 	(i)	I HAVE READ IT CAREFULLY; 

  

	 	(ii)	I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED, TITLE VII OF THE CIVIL RIGHTS ACT OF
1964, AS AMENDED, THE EQUAL PAY ACT OF 1963, THE AMERICANS WITH DISABILITIES ACT OF 1990. AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED; 

  

	 	(iii)	I VOLUNTARILY CONSENT TO EVERYTHING IN IT; 

  

	 	(iv)	I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND I HAVE DONE SO OR AFTER CAREFUL READING AND CONSIDERATION, I HAVE CHOSEN NOT TO DO SO OF MY OWN VOLITION, 

 

	 	(v)	I HAVE HAD AT LEAST [21][45] DAYS FROM THE DATE OF MY RECEIPT OF THIS RELEASE TO CONSIDER IT AND THE CHANGES MADE SINCE MY RECEIPT OF THIS RELEASE ARE NOT MATERIAL OR WERE MADE AT MY REQUEST AND WILL NOT RESTART THE
REQUIRED [21][45]-DAY PERIOD; 

  

	 	(vi)	I UNDERSTAND THAT I HAVE SEVEN (7) DAYS AFTER THE EXECUTION OF THIS RELEASE TO REVOKE IT AND THAT THIS RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED; AND

  

	 	(vii)	I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT. 

 

									
	SIGNED:	 	  
	 		 	DATE:	 	  

  
 4

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