SEC Contract Filing

Filing Date: 2015-02-20

Document Content:
<DOCUMENT>
<TYPE>EX-10.21.1
<SEQUENCE>4
<FILENAME>uan201410-kexhibit10211.htm
<DESCRIPTION>EX-10.21.1
<TEXT>
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 <title>UAN 2014 10-K Exhibit 10.21.1</title>
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<a name="s4EF8C83ACAEE236B5A85896D8D2E2217"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.21.1</font></div></div><br><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">AMENDMENT TO </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This AMENDMENT TO EMPLOYMENT AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is made and entered into as of December 19, 2014, by and between </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CVR GP, LLC</font><font style="font-family:inherit;font-size:12pt;">, a Delaware limited liability company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and Mark A. Pytosh (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Executive</font><font style="font-family:inherit;font-size:12pt;">&#8221;). </font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Company and the Executive are parties to an Employment Agreement dated as of April 16, 2014 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Employment Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;). The parties hereto desire to amend the Employment Agreement as provided herein. </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:24px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Annual Bonus</font><font style="font-family:inherit;font-size:12pt;">. Section 2.2 of the Employment Agreement is hereby deleted in its entirety and replaced with the following:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;For each completed fiscal year occurring during the Term, the Executive shall be eligible to receive an annual cash bonus (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Annual Bonus</font><font style="font-family:inherit;font-size:12pt;">&#8221;) with a target award equal to 125% of the Executive&#8217;s Base Salary. The Annual Bonus will be subject to all of the terms and conditions of the applicable bonus plan. For fiscal year 2014, the target Annual Bonus shall be pro-rated for the portion of the year that the Executive served as the Company&#8217;s Chief Executive Officer. The actual Annual Bonus payouts will be based on achievement of the individual, Partnership and beginning in 2015, CVR Energy, Inc. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">CVI</font><font style="font-family:inherit;font-size:12pt;">&#8221;) (to the extent the Executive receives a portion of his bonus based on shared services performed for CVI or its subsidiaries) performance criteria established for the applicable fiscal year by the Compensation Committee of the Board (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Compensation Committee</font><font style="font-family:inherit;font-size:12pt;">&#8221;) with respect to the Partnership, or the Compensation Committee of the board of directors of CVI with respect to CVI, in each case, in such committee&#8217;s sole and absolute discretion. The Annual Bonus (or any pro-rated portion thereof), if any, payable to Executive for a fiscal year will be paid to the Executive in the immediately succeeding fiscal year only after the completion of the audit of the Partnership&#8217;s or CVI&#8217;s consolidated financial statements and filing of the Partnership&#8217;s or CVI&#8217;s Annual Report on Form 10-K with respect to such fiscal year and, only after the respective Compensation Committee, in its sole and absolute discretion, has approved the final achievement level and payout; provided, however, that if the Annual Bonus is payable pursuant to a plan that is intended to provide for the payment of bonuses that constitute &#8220;performance-based compensation&#8221; within the meaning of Section 162(m) of the Code, the Annual Bonus shall be paid at such time as is provided in the applicable plan. The Executive must be actively employed on the day of payo