SEC Contract Filing

Filing Date: 2015-02-17

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d876075dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECOND AMENDMENT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I></I></B>This Second Amendment Agreement (the <B><I>&#147;Agreement&#148;</I></B>), is entered into as of February&nbsp;16, 2015 (the
<B><I>&#147;Effective Date&#148;</I></B>), by and between Gevo, Inc., a Delaware corporation (the <B><I>&#147;Company&#148;</I></B>), and Pat Gruber, an individual (the <B><I>&#147;Employee&#148;</I></B>). Capitalized terms used but not defined
herein shall have the meaning assigned to them in the Employment Agreement (as defined below). <B><I> </I></B></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>W<SMALL>HEREAS</SMALL></B><SMALL></SMALL>, the Company and the Employee previously entered into an Employment Agreement, dated as of
June&nbsp;4, 2010, (as amended by that certain Amendment Agreement, dated as of December&nbsp;21, 2011, the <B><I>&#147;Employment Agreement&#148;</I></B>), pursuant to which, among other things, the Employee agreed to render certain specified
services to the Company during the Term; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>W<SMALL>HEREAS</SMALL></B><SMALL></SMALL>, the Company desires to amend the Employment
Agreement to align the compensation of the Employee with the strategic objectives of the Company, including, without limitation, by paying 25% of the Employee&#146;s base salary in restricted stock for a period of three months; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>W<SMALL>HEREAS</SMALL></B><SMALL></SMALL>, the Employee has agreed to such amendments, on the terms and subject to the conditions set forth
in this Agreement. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>N<SMALL>OW</SMALL>, T<SMALL>HEREFORE</SMALL></B><SMALL></SMALL>, in consideration of the foregoing recitals, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1</B>. <B>Amendment to Employment Agreement</B>. The Employee and the Company agree </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">that for a three-month period starting on the date of the grant and ending three months from the date of the grant, the Employee will receive 25% of his Base
Pay, which amounts to $31,250.00 for three months, in shares of restricted stock instead of cash. The shares of restricted stock will be issued pursuant to the Company&#146;s Amended and Restated 2010 Stock Incentive Plan, will be priced at the
closing price of the Company&#146;s common stock on the date of the grant and will cliff vest 100% on the one-year anniversary of the date of the grant. In the event of a Change of Control, a termination of the Employee or a resignation by the
Employee, the shares of restricted stock will accelerate on a prorated basis. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2</B>. <B>Withholding</B>. The Company shall have the right to deduct or
withhold from any payments made pursuant to this Agreement any and all amounts it is required to deduct or withhold and any and all amounts the Employee agrees it may deduct or withhold (e.g., for federal income and employee social security taxes
and all state or local income taxes now applicable or that may be enacted and become applicable during the Term). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3. Effective Date</B>. This
Agreement shall become effective as of the Effective Date specified above. Except as modified by this Agreement, the Employment Agreement shall remain in full force and effect in accordance with its terms. In the event of a conflict or inconsistency
between this Agreement and the Employment Agreement, the provisions of this Agreement shall govern. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>4.</B> <B>Amendment</B>. By executing this Agreement below, each of the Company and the Employee certifies
that this Agreement has been executed and delivered in compliance with the terms of Section&nbsp;9.1 of the Employment Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5</B>.
<B>Assignment</B>. This Agreement is binding upon the parties hereto and their respective successors, assigns, heirs and personal representatives. Except as otherwise provided herein, neither of the parties hereto may make any assignment of this
Agreement, or any interest herein, without the prior written consent of the other p