Document:

exv10w28w4

Exhibit 10.28.4

FORM OF

CVR ENERGY, INC.

2007 LONG TERM INCENTIVE PLAN

RESTRICTED STOCK AGREEMENT

     THIS AGREEMENT, made as of the ___ day of                     , 20___ (the “Grant Date”), between CVR
Energy, Inc., a Delaware corporation (the “Company”), and          (the
“Grantee”).

     WHEREAS, the Company has adopted the CVR Energy, Inc. 2007 Long Term Incentive Plan (the
“Plan”) in order to provide an additional incentive to certain employees and directors of the
Company and its Subsidiaries; and

     WHEREAS, the Committee responsible for administration of the Plan has determined to grant an
option to the Grantee as provided herein.

     NOW, THEREFORE, the parties hereto agree as follows:

1. Grant of Restricted Stock.

     1.1 The Company hereby grants to the Grantee, and the Grantee hereby accepts from
the Company,              shares of Restricted Stock on the terms and conditions
set forth in this Agreement.

     1.2 This Agreement shall be construed in accordance with and consistent with, and
subject to, the provisions of the Plan (the provisions of which are incorporated herein by
reference); and except as otherwise expressly set forth herein, the capitalized terms used in this
Agreement shall have the same definitions as set forth in the Plan.

2. Rights of Grantee.

     Except as otherwise provided in this Agreement, the Grantee shall be entitled, at all times on
and after the Grant Date, to exercise all rights of a shareholder with respect to the shares of
Restricted Stock (whether or not the restrictions thereon shall have lapsed), including the right
to vote the shares of Restricted Stock and the right, subject to Section 6 hereof, to receive
dividends thereon. Notwithstanding the foregoing, the Grantee shall not be entitled to transfer,
sell, pledge, hypothecate or assign the shares of Restricted Stock (collectively, the “Transfer
Restrictions”), except as described in Section 3 below.

3. Vesting and Lapse of Restrictions.

     The Restricted Stock is subject to (i) a three-year vesting period, in which thirty-three and
one-third percent (33-1/3%) of the total number of shares of Restricted Stock granted hereunder
will vest on each of the first three annual anniversaries of the Grant Date (each such date, a
“Vesting Date”, and the shares vesting as of such date, the “Vested Shares”), provided the Grantee
continues to serve as an employee of the Company, a Subsidiary or a Division on the applicable
Vesting Date, and (ii) the stock retention guidelines included in the Corporate Governance
Guidelines of the Company, as in effect on the date of the award (the “Retention

 

 

Guidelines”). Except as otherwise provided herein, on each Vesting Date the Transfer
Restrictions shall lapse on that portion of the Vested Shares that are no longer subject to the
Retention Guidelines (such shares, the “Unrestricted Shares”). For the avoidance of doubt,
Unrestricted Shares include those shares of Restricted Stock withheld by the Company for purposes
of satisfying Grantee’s Withholding Tax obligations pursuant to Section 8 of this Agreement.

4. Escrow and Delivery of Shares.

     4.1 Certificates representing the shares of Restricted Stock shall be issued and
held by the Company in escrow and shall remain in the custody of the Company until their delivery
to the Grantee or his or her estate as set forth in Section 4.2 hereof, subject to the Grantee’s
delivery of any documents which the Company in its discretion may require as a condition to the
issuance of shares and the delivery of shares to the Grantee or his or her estate.

     4.2 Certificates representing Unrestricted Shares shall be delivered to the Grantee
as soon as practicable following the applicable Vesting Date.

     4.3 The Grantee may receive, hold, sell or otherwise dispose of those shares
delivered to him or her pursuant to Section 4.2 free and clear of the Transfer Restrictions, but
subject to compliance with all federal, state and other similar securities laws.

5. Ceasing to Serve as Employee.

     In the event the Grantee ceases to serve as an employee of the Company, a Subsidiary or a
Division for any reason other than as a result of his or her death, Disability or Retirement, the
Grantee shall (i) forfeit the shares of Restricted Stock that are not vested and shall have no
rights with respect thereto, and (ii) retain all shares of Restricted Stock that are vested, free
and clear of the Transfer Restrictions. In the event the Grantee ceases to serve as an employee of
the Company, a Subsidiary or a Division by reason of the Grantee’s death, Disability or Retirement,
any shares of Restricted Stock that have not vested shall become immediately vested and free and
clear of the Transfer Restrictions. Notwithstanding the foregoing, (x) if the Grantee’s employment
is terminated by the Company, a Subsidiary or a Division other than for Cause within the one (1)
year period following a Change in Control, (y) the Grantee resigns from employment with the
Company, a Subsidiary or a Division for Good Reason within the one (1) year period following a
Change in Control or (z) the Grantee’s termination is a Change in Control Related Termination, any
shares of Restricted Stock that have not vested shall become immediately vested and free and clear
of the Transfer Restrictions.

6. Dividend Rights.

     All dividends declared and paid by the Company on shares of Restricted Stock shall be deferred
until such shares vest pursuant to Section 3 hereof. The deferred dividends shall be held by the
Company for the account of the Grantee. Upon each Vesting Date, a pro rata share of dividends on
all Vested Shares, with no interest thereon, shall be paid to the Grantee.

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7. No Right to Continued Employment.

     Nothing in this Agreement or the Plan shall be interpreted or construed to confer upon the
Grantee any right with respect to continuance of employment by the Company, any Subsidiary or any
Division, nor shall this Agreement or the Plan interfere in any way with the right of the Company,
any Subsidiary or any Division to terminate the Grantee’s employment therewith at any time.

8. Withholding of Taxes.

     The Grantee shall pay to the Company, or the Company and the Grantee shall agree on such other
arrangements necessary for the Grantee to pay, the applicable federal, state and local income taxes
required by law to be withheld (the “Withholding Taxes”), if any, upon the vesting and delivery of
the shares. The Company shall have the right to deduct from any payment of cash to the Grantee any
amount equal to the Withholding Taxes in satisfaction of the Grantee’s obligation to pay
Withholding Taxes. Notwithstanding the foregoing, at the Grantee’s election, the Company shall
withhold delivery of a number of shares with a Fair Market Value as of the vesting date equal to
the Withholding Taxes in satisfaction of the Grantee’s obligations hereunder.

9. Grantee Bound by the Plan.

     The Grantee hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all
the terms and provisions thereof.

10. Modification of Agreement.

     This Agreement may be modified, amended, suspended or terminated, and any terms or conditions
may be waived, but only by a written instrument executed by the parties hereto. No waiver by either
party hereto of any breach by the other party hereto of any provision of this Agreement to be
performed by such other party shall be deemed a waiver of similar or dissimilar provisions at the
time or at any prior or subsequent time.

11. Severability.

     Should any provision of this Agreement be held by a court of competent jurisdiction to be
unenforceable or invalid for any reason, the remaining provisions of this Agreement shall not be
affected by such holding and shall continue in full force in accordance with their terms.

12. Governing Law.

     The validity, interpretation, construction and performance of this Agreement shall be governed
by the laws of the State of Delaware without giving effect to the conflicts of laws principles
thereof.

13. Successors in Interest.

     This Agreement shall inure to the benefit of and be binding upon any successor to the Company.
This Agreement shall inure to the benefit of the Grantee’s legal representatives. All obligations
imposed upon the Grantee and all rights granted to the Company under this

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Agreement shall be final, binding and conclusive upon the Grantee’s beneficiaries, heirs,
executors, administrators and successors.

14. Resolution of Disputes.

     Any dispute or disagreement which may arise under, or as a result of, or in any way relate to,
the interpretation, construction or application of this Agreement shall be determined by the
Committee. Any determination made hereunder shall be final, binding and conclusive on the Grantee
and the Company for all purposes.

[signature page follows]

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IN WITNESS WHEREOF, this Agreement has been executed as of the date first written above.

	 	 	 	 	 	 	 
	CVR ENERGY, INC.	 	GRANTEE	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	John J. Lipinski
	 	Print Name:	 	 
	Title:

	 	Chief Executive Officer and President	 	 	 	 

[Signature Page to Restricted Stock Agreement]exv10w29

Exhibit 10.29

AMENDED AND RESTATED

COFFEYVILLE RESOURCES, LLC

PHANTOM UNIT APPRECIATION PLAN (PLAN I)

Dated as of November 9, 2009

	1.	 	Purpose; Operation. The purpose of the Amended and Restated Coffeyville Resources,
LLC Phantom Unit Appreciation Plan (Plan I) (the “Plan”) is to provide an incentive to
employees of the Company and its Affiliates who contribute to the Company’s success to
increase their efforts on behalf of the Company and to promote the success of the Company’s
business. Participants in the Plan have the opportunity to receive cash payments in respect of
Phantom Points they hold in the event of certain distributions pursuant to the Parent LLC
Agreement to “Members” (as defined in the Parent LLC Agreement) in Coffeyville Acquisition
LLC, an indirect equity owner of the Company. Whether payments will be made will depend on the
amount of net proceeds realized in connection with the event that gives rise to such
distributions. Defined terms are defined in Exhibit A hereto.
	 
	2.	 	Administration. The Plan shall be administered by the Committee. The Committee shall
have the authority in its discretion, subject to and not inconsistent with the express
provisions of the Plan, to administer the Plan and to exercise all the powers and authorities
either specifically granted to it under the Plan or necessary or advisable in the
administration of the Plan, including, without limitation:

	 	•	 	the authority to grant Phantom Points;
	 
	 	•	 	to determine the persons to whom and the time or times at which Phantom
Points shall be granted;
	 
	 	•	 	to determine the number and type of Phantom Points to be granted and the
terms, conditions and restrictions relating thereto;
	 
	 	•	 	to determine whether, to what extent, and under what circumstances Phantom
Points may be settled, cancelled, forfeited, exchanged, or surrendered;
	 
	 	•	 	to make adjustments in the terms and conditions applicable to Phantom
Points;
	 
	 	•	 	to construe and interpret the Plan and Award Agreements;
	 
	 	•	 	to prescribe, amend and rescind rules and regulations relating to the Plan;
	 
	 	•	 	to determine the terms and provisions of the Award Agreements;
	 
	 	•	 	to determine the Baseline Primary Phantom Percentage, the Total Phantom
Percentages and the Final Phantom Percentages;
	 
	 	•	 	to determine the amounts allocable for payment pursuant to this Plan;

 

 

	 	•	 	to assign Phantom Benchmark Amounts; and
	 
	 	•	 	to make all other determinations deemed necessary or advisable for the
administration of the Plan.

	 	 	All determinations made by the Committee in respect of the Plan shall be final and binding
on all Participants and their beneficiaries. No manager or member of the Company or member
of the Committee shall be liable for any action taken or determination made in good faith
with respect to the Plan or any Phantom Points granted hereunder. The Committee, with the
consent of Parent LLC, shall make determinations with respect to percentages (including the
Total Phantom Percentages and the Final Phantom Percentages) and cash amounts allocated, if
any, to the Plan with reference to the applicable definitions set forth in Exhibit
A; provided that any and all determinations with respect to applicable
percentages and cash amounts allocated to the Plan shall be made in the Committee’s
discretion and may vary from such definitions. The Committee may make adjustments in the
operation of provisions of the Plan if the Committee determines in its sole discretion that
such adjustments will further the intent of such provisions.
	 
	3.	 	Eligibility. Phantom Points may be granted at any time to directors, employees
(including officers) and service providers of an Employer, in the discretion of the Committee.
	 
	4.	 	Phantom Service Points; Payment.

	 	(a)	 	Phantom Service Point Pool. A pool of points shall exist consisting of
“Phantom Service Points”. Phantom Service Points shall represent the right to receive
a cash payment from the Employer within thirty (30) days following the date on which a
distribution is made pursuant to the Parent LLC Agreement. The pool of Phantom Service
Points shall initially be 10,000,000 but may be increased in the discretion of the
Committee at any time. The total number of Phantom Service Points outstanding (after
taking into account any adjustments made pursuant to Section 7) shall be referred to as
the “Total Phantom Service Point Pool”.
	 
	 	(b)	 	Phantom Service Percentage. The “Phantom Plan Service Percentage” for
each Participant shall be the Final Phantom Service Percentage multiplied by the
quotient obtained by dividing (x) the number of Phantom Service Points allocated to
such Participant by (y) 10,000,000, or, if the Total Phantom Service Point Pool is
greater than 10,000,000, the Total Phantom Service Point Pool.
	 
	 	(c)	 	Phantom Service Point Payments. The cash amount payable to a
Participant in respect of his or her Phantom Service Points at any time that a
distribution is made pursuant to the Parent LLC Agreement in respect of Operating Units
shall be determined by multiplying (x) such Participant’s Phantom Plan Service
Percentage and (y) the amount of Exit Proceeds. For the avoidance of doubt, the
foregoing is simply a calculation of amount of the cash payment payable to a
Participant holding Phantom Service Points, and in no event shall such

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	 	 	 	Participant, in its capacity as such, have any rights to receive a payment or
distribution from Parent LLC.1

	5.	 	Phantom Performance Points; Payment.

	 	(a)	 	Phantom Performance Point Pool. A pool of points shall exist consisting
of “Phantom Performance Points”. Phantom Performance Points shall represent the right
to receive a cash payment within thirty (30) days following the date on which a
distribution is made pursuant to the Parent LLC Agreement in respect of Value Units.
The pool of Phantom Performance Points shall initially be 10,000,000, but may be
increased in the discretion of the Committee at any time. The total number of Phantom
Performance Points outstanding (after taking into account any adjustment made pursuant
to Section 7) shall be referred to as the “Total Phantom Performance Point Pool”.
	 
	 	(b)	 	Phantom Performance Percentage. The “Phantom Plan Performance
Percentage” for each Participant shall initially be the Final Phantom Performance
Percentage multiplied by the quotient obtained by dividing (x) the number of Phantom
Performance Points allocated to such Participant by (y) 10,000,000, or, if the Total
Phantom Performance Point Pool is greater than 10,000,000, the Total Phantom
Performance Point Pool, and shall be further subject to reduction pursuant to Section
5(c) below.
	 
	 	(c)	 	Performance Factor; Investment Multiple. As provided in the definition
of Final Phantom Performance Percentage, each Participant’s Phantom Plan Performance
Percentage reflects the Performance Factor, which operates to adjust Participants’
performance percentages based on the performance of the investment in the Parent LLC by
the Investor Members. For purposes of this Plan:

	 	(1)	 	The “Performance Factor” equals a number
(between zero and one) equal to the quotient obtained by dividing (i)
the excess, if positive, of the Final Investment Multiple (as defined
below) over the Minimum Investment Multiple by (ii) two (2);
provided that if such quotient is greater than one, the
Performance Factor will equal one.
	 
	 	(2)	 	The Final Investment Multiple is computed,
after giving effect to any payments to be made pursuant to this Plan,
by dividing (x) the total fair market value of all net distributions
received, or to be received upon the applicable distribution, by the
Investor Members from the Company in respect of their aggregate
investment in the Company divided by (y) the aggregate of such
investment of the

 

			
	1	 	Schedule A provides an illustration of
how a calculation of a Phantom Service Point payment would be made under the
Plan. It is not intended to be an indication of actual payments under the Plan.

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	 	 	 	Investor Members in the Company (it being understood that all such
amounts are themselves simultaneously being calculated by reference
to amounts that may be payable pursuant to the Plan).

	 	(d)	 	Phantom Performance Point Payments. The cash amount payable to a
Participant in respect of his or her Phantom Performance Points at any time that a
distribution is made pursuant to the Parent LLC Agreement in respect of Value Units
shall be determined by adding (x) the product of (i) such Participant’s Phantom Plan
Performance Percentage and (ii) the amount of Exit Proceeds plus (y) an additional
amount to provide a ‘catch-up’ similar to that provided in respect of Value Units
pursuant to Section 9.1(d) of the Parent LLC Agreement. For the avoidance of doubt, the
foregoing is simply a calculation of the amount of the cash payment payable to a
Participant holding Phantom Performance Points, and in no event shall such Participant,
in its capacity as such, have any rights to receive a payment or distribution from
Parent LLC.

	6.	 	Additional Awards; Adjustments.

	 	(a)	 	Additional Awards. An Employer may determine that a Participant’s
performance warrants an award of additional Phantom Points, in which case the Employer
may recommend to the Committee that an additional award be made.
	 
	 	(b)	 	Prior Appreciation Adjustments. Each Participant will be assigned a
“Phantom Benchmark Amount”, which shall be an amount determined by the Committee with
respect to the Participant each time the Committee awards any Phantom Points to the
Participant and relates to the valuation of Parent LLC at such time, provided that with
respect to Phantom Points that are forfeited and reallocated pursuant to Section 7, the
Committee, in its discretion, may instead assign the Phantom Benchmark Amount that was
in effect for such forfeited Phantom Points immediately prior to such forfeiture or
such other Phantom Benchmark Amount as it may determine in its discretion.
Notwithstanding anything to the contrary set forth in the Plan, for purposes of the
calculations under Section 4(c) and Section 5(d), the Committee shall make such
adjustments to the amounts otherwise determined thereunder to account for the Phantom
Benchmark Amount assigned in respect of a Participant’s Phantom Points.
	 
	 	(c)	 	In the event of any material acquisition, disposition, merger,
recapitalization, capital contribution or other similar event, the Committee may make
such adjustment(s) to the terms of the Plan or any awards granted under the Plan as the
Committee shall determine appropriate in its sole discretion.

	7.	 	Termination of Employment. If a Participant ceases to be employed by an Employer
(other than in connection with a transfer to another Employer) prior to an Exit Event, such
Participant shall forfeit all Phantom Points granted to the Participant. For avoidance of
doubt, any forfeited Phantom Service Points and Phantom Performance Points shall be returned
to the Phantom Service Point Pool and Phantom Performance Point Pool, respectively, and the
Committee, in its discretion, may reallocate, by one or more separate grants, such forfeited
Phantom Points to one or more employees who are eligible
to participate in the Plan.

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	8.	 	General Provisions.

	 	(a)	 	Nontransferability. Unless otherwise provided in an Award Agreement,
Phantom Points shall not be transferable by a Participant under any circumstances,
except by will or the laws of descent and distribution.
	 
	 	(b)	 	No Right to Continued Employment, etc. Nothing in the Plan or in any
Award Agreement entered into pursuant the Plan shall confer upon any Participant the
right to continue in the employ of or to be entitled to any remuneration or benefits
not set forth in the Plan or such Award Agreement, or to interfere with or limit in any
way the right of an Employer to terminate such Participant’s employment.
	 
	 	(c)	 	Taxes. The Company or any Affiliate is authorized to withhold from any
payment relating to Phantom Points under the Plan amounts of withholding and other
taxes due to enable the Company and Participants to satisfy obligations for the payment
of withholding taxes and other tax obligations.
	 
	 	(d)	 	Excise Tax. To the extent that, (i) in the Committee’s determination,
payment to a Participant in respect of his or her Phantom Points would constitute
“parachute payments” (within the meaning of Section 280G of the Code), and if (ii) such
payment would (together with any other payment to which the Participant is or may be
entitled that would constitute a “parachute payment”), if reduced by all federal,
state, and local taxes applicable thereto, including the excise tax imposed under
Section 4999 of the Code, be less than the amount the Participant would receive, after
all taxes, if the Participant received aggregate payments in respect of his or her
Phantom Points (and such other payments) equal (as valued under Section 280G of the
Code) to only three times the Participant’s “base amount” (within the meaning of
Section 280G of the Code), less $1.00, then (iii) such payments hereunder shall be
reduced to such extent to avoid the application of such excise tax; provided that the
Company shall use its reasonable best efforts to obtain shareholder approval of the
payments in a manner intended to satisfy requirements of the “shareholder approval”
exception to Section 280G of the Code and the regulations promulgated thereunder, such
that payments may be made to the Participant in respect of his or her Phantom Points
without the application of the excise tax.
	 
	 	(e)	 	Amendment and Termination. The Plan shall take effect on the date of
its adoption by the manager of the Company (the “Manager”). The Manager may at any
time and from time to time alter, amend, suspend, or terminate the Plan in whole or in
part, including, but not limited to, amending the Plan and awards to alter the
structure of the Plan if the Manager determines the Plan is not meeting its objectives.
	 
	 	(f)	 	No Rights to Awards; No Stockholder or Member Rights. No Participant
shall have any claim to be granted any Phantom Points under the Plan, and there is no
obligation for uniformity of treatment of Participants. A Participant or a

5

 

	 	 	 	transferee of Phantom Points shall have no rights as a stockholder or member of the
Company or any Affiliate.
	 
	 	(g)	 	Unfunded Status of Awards. The Plan is intended to constitute an
“unfunded” plan for incentive compensation. With respect to any payments not yet made
to a Participant pursuant to an Award, nothing contained in the Plan or any Phantom
Points shall give any such Participant any rights that are greater than those of a
general creditor of the Company.
	 
	 	(h)	 	Governing Law. The Plan and all determinations made and actions taken
pursuant hereto shall be governed by the laws of the State of Delaware without giving
effect to the conflict of laws principles thereof.
	 
	 	(i)	 	Beneficiary. Upon the death of a Participant, all of his of her rights
under the Plan shall inure to his or her designated beneficiary or, if no beneficiary
has been designated, to his or her estate.
	 
	 	(j)	 	No Guarantee or Assurances. There can be no guarantee that any
distributions in respect of Operating Units or Value Units will occur under the Parent
LLC Agreement or that any payment to any Participant will result under the Plan.
	 
	 	(k)	 	Expiration of Plan. Unless otherwise determined by the Manager, the
Plan shall expire on July 25, 2015 and all outstanding Phantom Points shall then expire
and be forfeited with no consideration paid in respect of such forfeiture.

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EXHIBIT A

Plan Definitions

For purposes of the Plan, the following terms shall be defined as set forth below.

“Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated under Section 12 of
the Securities Exchange Act of 1934.

“Award Agreement” means any written agreement, contract, or other instrument or document
evidencing a grant of Phantom Points.

“Baseline Primary Phantom Percentage” means a notional profits interest percentage in Parent
LLC, determined by the Committee with the consent of Parent LLC in its sole discretion,
attributable to all Phantom Points available for award under the Plan; provided that
in no event shall the Baseline Primary Phantom Percentage plus the percentage interest
represented by all profits interests in the Parent LLC be greater than 15% of the combined
notional and aggregate equity interests of the Parent LLC, assuming all profits interests
are outstanding and entitled to share in distributions. Such deemed profits interest
percentage, as adjusted pursuant to the terms of the Plan, is generally intended to provide,
as a function of Exit Proceeds, the maximum attainable cash payment payable to holders of
Phantom Points under the Plan. The Committee shall have the discretion (with the consent of
Parent LLC) to change the Baseline Primary Phantom Percentage at any time and from time to
time (including upon the occurrence of any distribution pursuant to the Parent LLC Agreement
or an Exit Event). Schedule 1, as amended from time to time, shall set forth the
Baseline Primary Phantom Percentage.

“Code” means the Internal Revenue Code of 1986, as amended from time to time.

“Committee” means the Compensation Committee of CVR Energy, Inc.

“Company” means Coffeyville Resources, LLC, a Delaware limited liability company, or any
successor corporation.

“Employer” means the Company or any Affiliate of the Company.

“Exit Event” has the meaning given in the Parent LLC Agreement.

“Exit Proceeds” means the net proceeds available for distribution to the Members of Parent
LLC at any time that a distribution is made pursuant to the Parent LLC Agreement in respect
of Operating Units or Value Units, as the case may be, following the return of all
unreturned “Capital Contributions” (as defined in the Parent LLC Agreement).

“Final Phantom Percentages” means, collectively, the Final Phantom Performance Percentage,
the Final Phantom Service Percentage and the Final Aggregate Phantom Percentage.

“Final Phantom Performance Percentage” means the product of (x) the Performance

7

 

Factor and (y) the Total Performance Phantom Percentage.

“Final Phantom Service Percentage” means the Total Phantom Service Percentage.

“Investor Member” has the meaning given in the Parent LLC Agreement.

“Maximum Investment Multiple” means four (4).

“Minimum Investment Multiple” means two (2).

“Operating Unit” has the meaning given in the Parent LLC Agreement.

“Parent LLC” means Coffeyville Acquisition LLC.

“Parent LLC Agreement” means the Fourth Amended and Restated Limited Liability Company
Agreement of Parent LLC, dated as of November 9, 2009, as such may be amended.

“Participant” means an individual who has been granted Phantom Performance Points and/or
Phantom Service Points pursuant to the Plan and who continues to hold Phantom Points.

“Performance Factor” shall have the meaning set forth in Section 5(c)(1).

“Phantom Performance Points” shall have the meaning set forth in Section 5.

“Phantom Points” means, collectively, or individually as the context requires, Phantom
Performance Points and Phantom Service Points.

“Phantom Service Points” shall have the meaning set forth in Section 4.

“Plan” means this Coffeyville Resources, LLC Phantom Unit Appreciation Plan (Plan I), as
amended from time to time.

“Total Performance Phantom Percentage” means the product of (x) .667 and (y) the Baseline
Primary Phantom Percentage.

“Total Phantom Percentages” means, collectively, the Total Performance Phantom Percentage
and the Total Service Phantom Percentage.

“Total Phantom Service Percentage” means the product of (x) .333 and (y) the Baseline
Primary Phantom Percentage.

“Value Unit” has the meaning given in the Parent LLC Agreement.

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SCHEDULE 1

Baseline Primary Phantom Percentage

Baseline Primary Phantom Percentage = 3.91%

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SCHEDULE A

Example

Example Calculation of Phantom Service Payout

(This is a hypothetical case for illustrative purposes only)

Formula: Phantom Plan Service Percentage * Exit Proceeds

Variables:

Phantom Plan Service Percentage: Final Phantom Service Percentage * (Phantom Service Points Issued
to Participant / Total Phantom Service Point Pool)

Final Phantom Service Percentage: Total Phantom Service Percentage

Total Phantom Service Percentage: the product of (x) .333 and (y) the Baseline Primary Phantom
Percentage

Baseline Primary Phantom Percentage: 3.91%

Phantom Service Points Issued to Participant: 500,000

Total Phantom Service Point Pool: 10,000,000 (Determined by Committee, currently 10,000,000 for
each Service and Performance Points)

Exit Proceeds: $750,000,000 (The hypothetical amount of money eligible to distribute after paid in
capital has been returned)

Calculation:

			
	Phantom Plan Service Percentage:	 	(0.333 * 0.0391) * (500,000 / 10,000,000)

0.0130203 * 0.05 = 0.000651015

Exit Proceeds: 750,000,000

Example Calculation of Phantom Service Payout: 0.000651015 * 750,000,000 = $488,261.25

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