<SEC-DOCUMENT>0000950123-11-101799.txt : 20111202
<SEC-HEADER>0000950123-11-101799.hdr.sgml : 20111202
<ACCEPTANCE-DATETIME>20111202160223
ACCESSION NUMBER:		0000950123-11-101799
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20111129
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20111202
DATE AS OF CHANGE:		20111202

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CVR ENERGY INC
		CENTRAL INDEX KEY:			0001376139
		STANDARD INDUSTRIAL CLASSIFICATION:	PETROLEUM REFINING [2911]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33492
		FILM NUMBER:		111240431

	BUSINESS ADDRESS:	
		STREET 1:		2277 PLAZA DRIVE
		STREET 2:		SUITE 500
		CITY:			SUGAR LAND
		STATE:			TX
		ZIP:			77479
		BUSINESS PHONE:		(281) 207-7711

	MAIL ADDRESS:	
		STREET 1:		2277 PLAZA DRIVE
		STREET 2:		SUITE 500
		CITY:			SUGAR LAND
		STATE:			TX
		ZIP:			77479
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>y93706e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<TITLE>e8vk</TITLE>
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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of earliest event reported): November&nbsp;29, 2011</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>CVR ENERGY, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR></TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>001-33492</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>61-1512186</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other <BR>
jurisdiction of <BR>
incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer<BR>
Identification Number)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>2277 Plaza Drive, Suite&nbsp;500<BR>
Sugar Land, Texas 77479</B></DIV>

<DIV align="center" style="font-size: 10pt">(Address of principal executive offices,
including zip code)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Registrant&#146;s telephone number, including area code: (281)&nbsp;207-3200</B></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain Officers.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(e)&nbsp;</B><I>Compensatory Arrangements of Certain Officers</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On November&nbsp;29, 2011, CVR Energy, Inc. (the &#147;<U>Company</U>&#148;) and Edward Morgan, Chief
Financial Officer of the Company entered into an Amendment to Second Amended and Restated
Employment Agreement (the &#147;<U>Amendment</U>&#148;), which amends the Second Amended and Restated
Employment Agreement dated as of January&nbsp;1, 2011 between the Company and Mr.&nbsp;Morgan (as amended by
the Amendment, the &#147;<U>Employment Agreement</U>&#148;). Pursuant to the Amendment, Mr.&nbsp;Morgan has
agreed to continue to serve as Chief Financial Officer of the Company for up to 120&nbsp;days (or such
earlier date as the Company may determine in its discretion) following the date the Company names a
successor chief financial officer (&#147;<U>Successor CFO</U>&#148;). Upon the date selected by the Company
on which the Successor CFO takes over as Chief Financial Officer of the Company (the
&#147;<U>Transition Date</U>&#148;), Mr.&nbsp;Morgan will become Executive Vice President of Investor Relations
of the Company (&#147;<U>EVP of IR</U>&#148;). The term of the Employment Agreement will continue until the
earlier of December&nbsp;31, 2012 or the termination or resignation of Mr.&nbsp;Morgan&#146;s employment in
accordance with the Employment Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective upon the Transition Date and continuing for the remaining term of the Employment
Agreement while Mr.&nbsp;Morgan serves as EVP of IR (such period, the &#147;<U>Post-Transition Period</U>&#148;),
Mr.&nbsp;Morgan will receive a base salary at the annual rate of $275,000 and will be eligible to
receive an annual cash bonus for the portion of the year during the Post-Transition Period at a
target rate of 40% of his annual base salary. Pursuant to the Amendment, Mr.&nbsp;Morgan will receive an award of restricted common stock on the
last payroll date of 2011 with a fair market value on the grant date equal to $165,000, subject to
the terms of the award agreement. The restricted common stock will vest in one-third annual
increments beginning on the first anniversary of the grant date. If, during the Post-Transition Period, Mr.&nbsp;Morgan&#146;s
employment is terminated by the Company without cause and other than for disability (as such terms
are defined in the Employment Agreement) or Mr.&nbsp;Morgan resigns, then Mr.&nbsp;Morgan is entitled to
receive (among other benefits described in the Employment Agreement) accelerated vesting of all
unvested shares of restricted common stock then held by Mr.&nbsp;Morgan, including the December 2011 award.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The description of the Amendment herein is qualified in its entirety by reference to the full
text of the Amendment attached hereto, which is incorporated herein by reference.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>(d)&nbsp;Exhibits</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">10.1 Amendment to Second Amended and Restated Employment Agreement, dated November&nbsp;29, 2011 by and
between CVR Energy, Inc. and Edward Morgan.
</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date: December&nbsp;2, 2011
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">CVR Energy, Inc.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Edmund S. Gross
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Edmund S. Gross,&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Senior Vice President, General Counsel and Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>y93706exv10w1.htm
<DESCRIPTION>EX-10.1
<TEXT>
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<TITLE>exv10w1</TITLE>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>AMENDMENT TO </B></U><BR>
<U><B>SECOND AMENDED AND RESTATED </B></U><BR>
<U><B>EMPLOYMENT AGREEMENT</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This AMENDMENT (this &#147;<U>Amendment</U>&#148;) is made and entered into as of November&nbsp;29, 2011, by
and between CVR Energy, Inc., a Delaware corporation (the &#147;<U>Company</U>&#148;) and Edward Morgan (the
&#147;<U>Executive</U>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the Company and the Executive are parties to a Second Amended and Restated Employment
Agreement dated as of January&nbsp;1, 2011 (the &#147;<U>Employment Agreement</U>&#148;);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, Section&nbsp;8.1 of the Employment Agreement permits the Employment Agreement to be
amended by written agreement of the parties thereto;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the parties hereto desire to amend the Employment Agreement as provided herein; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, capitalized terms used and not defined herein shall have the meaning ascribed to them
in the Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>NOW, THEREFORE</B>, in consideration of the foregoing, it is mutually agreed that the Employment
Agreement is amended as of the date set forth above, in the following particulars:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;1.1 of the Employment Agreement is hereby deleted in its entirety and replaced
with the following:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<U>Term</U>. The Company agrees to employ the Executive, and the Executive agrees to be
employed by the Company, in each case pursuant to this Employment Agreement, for a period
commencing on January&nbsp;1, 2011 (the &#147;<U>Commencement Date</U>&#148;) and ending on the earlier of
(i)&nbsp;December&nbsp;31, 2012 and (ii)&nbsp;the termination or resignation of the Executive&#146;s employment
in accordance with Section&nbsp;3 hereof (the &#147;<U>Term</U>&#148;). Upon written agreement between
the Company and the Executive made no later than December&nbsp;1, 2012, the Term shall be
extended on such terms and conditions as the Company and the Executive mutually agree.&#148;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;1.2 of the Employment Agreement is hereby deleted in its entirety and replaced
with the following:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;During the Term, the Executive shall serve as Chief Financial Officer and Treasurer of
the Company (&#147;<U>CFO</U>&#148;) until the date (the &#147;<U>Transition Date</U>&#148;) that is 120&nbsp;days
(or such earlier date as the Company in its discretion may determine) after the date that
the Company has named a successor to the Executive as Chief Financial Officer and Treasurer
(the &#147;<U>Successor CFO</U>&#148;), at which time the Executive shall serve as Executive Vice
President of Investor Relations of the Company (&#147;<U>EVP of IR</U>&#148;). The Executive shall
also serve in such other or additional positions as an officer or director of the Company,
and of such direct or indirect affiliates of the Company (&#147;<U>Affiliates</U>&#148;), as the
Executive and the board of directors of the Company (the &#147;<U>Board</U>&#148;) or its designee
shall mutually
</TD>
</TR>
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>agree from time to time. In such positions, the Executive shall perform such duties,
functions and responsibilities during the Term commensurate with the Executive&#146;s positions
as reasonably directed by the Chief Executive Officer of the Company or the Board or, during
the period in which he serves as the EVP of IR, the Successor CFO.&#148;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;2.1 of the Employment Agreement is hereby deleted in its entirety and replaced
with the following:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;As compensation for the performance of the Executive&#146;s services hereunder, during the Term,
the Company shall pay to the Executive a salary at an annual rate of (i)&nbsp;during the period
that the Executive is serving as CFO, $335,000 and (ii)&nbsp;during the period that the Executive
is serving as EVP of IR, $275,000, which shall be prorated for any partial year at the end
of the Term and shall accrue and be payable in accordance with the Company&#146;s standard
payroll policies, as such salary may be adjusted upward by the Compensation Committee of the
Board in its discretion (as adjusted, the &#147;<U>Base Salary</U>&#148;).&#148;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;2.2 of the Employment Agreement is hereby deleted in its entirety and replaced
with the following:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<U>Annual Bonus</U>. For each completed fiscal year occurring during the Term, the
Executive shall be eligible to receive an annual cash bonus (the &#147;<U>Annual Bonus</U>&#148;).
For fiscal year 2011, the target Annual Bonus shall be 120% of the Executive&#146;s Base Salary
as in effect at the beginning of fiscal year 2011. For fiscal year 2012, the target Annual
Bonus shall be equal to (i)&nbsp;120% of the Executive&#146;s Base Salary of $335,000, prorated for
the portion of the year that the Executive served as CFO and (ii)&nbsp;40% of the Executive&#146;s
Base Salary of $275,000, prorated for the portion of the year that the Executive served as
EVP of IR, in each case such proration based on the number of days that the Executive served
in each position. The actual Annual Bonus paid for any fiscal year shall be paid pursuant
to the Company&#146;s Performance Incentive Plan.&#148;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;3.2(a) of the Employment Agreement is hereby deleted in its entirety and
replaced with the following:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;(a)(1) <U>Termination by the Company Other than For Cause or Disability; Resignation by
the Executive for Good Reason</U>. If during the Term (except during the Window Period (as
defined in Section&nbsp;3.2(a)(2) below)) (i)&nbsp;the Executive&#146;s employment is terminated by the
Company other than for Cause or Disability or (ii)&nbsp;the Executive resigns for Good Reason,
then in addition to the Accrued Amounts the Executive shall be entitled to the following
payments and benefits: (x)&nbsp;the continuation of Executive&#146;s Base Salary at the rate in
effect immediately prior to the date of termination or resignation (or, in the case of a
resignation for Good Reason, at the rate in effect immediately prior to the occurrence of
the event constituting Good Reason, if greater) for a period of twelve (12)&nbsp;months (or, if
earlier, until and including the month in which the Executive attains age 70) (the
&#147;<U>Severance Period</U>&#148;) and (y)&nbsp;a Pro-Rata Bonus and (z)&nbsp;to the extent permitted
pursuant to the applicable plans, the continuation on the same terms as an active employee
(including, where applicable, coverage for the Executive and the Executive&#146;s dependents)</TD>
</TR>

</TABLE>
</DIV>
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<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>of medical, dental, vision and life insurance benefits (&#147;<U>Welfare Benefits</U>&#148;) the
Executive would otherwise be eligible to receive as an active employee of the Company for
twelve (12)&nbsp;months or, if earlier, until such time as the Executive becomes eligible for
Welfare Benefits from a subsequent employer (the &#147;<U>Welfare Benefit Continuation
Period</U>&#148;) (such payments, collectively, the &#147;<U>Severance Payments</U>&#148;). If the
Executive is not permitted to continue participation in the Company&#146;s Welfare Benefit plans
pursuant to the terms of such plans or pursuant to a determination by the Company&#146;s
insurance providers or such continued participation in the plan would result in the
imposition of an excise tax to the Company pursuant to Section&nbsp;4980D of the Code, the
Company shall use reasonable efforts to obtain individual insurance policies providing the
Welfare Benefits to the Executive during the Welfare Benefit Continuation Period and, if
applicable, the Additional Welfare Benefit Continuation Period (as defined below), but shall
only be required to pay for such policies an amount equal to the amount the Company would
have paid had the Executive continued participation in the Company&#146;s Welfare Benefits plans;
<U>provided</U>, <U>that</U>, if such coverage cannot be obtained, the Company shall pay
to the Executive monthly during the Welfare Benefit Continuation Period and, if applicable,
the Additional Welfare Benefit Continuation Period, an amount equal to the amount the
Company would have paid had the Executive continued participation in the Company&#146;s Welfare
Benefits plans. The Company&#146;s obligations to make the Severance Payments shall be
conditioned upon: (i)&nbsp;the Executive&#146;s continued compliance with Executive&#146;s obligations
under Section&nbsp;4 of this Employment Agreement and (ii)&nbsp;the Executive&#146;s execution, delivery
and non-revocation of a valid and enforceable release of claims arising in connection with
the Executive&#146;s employment and termination or resignation of employment with the Company
(the &#147;<U>Release</U>&#148;) in a form reasonably acceptable to the Company and the Executive
that becomes effective not later than forty-five (45)&nbsp;days after the date of such
termination or resignation of employment. In the event that the Executive breaches any of
the covenants set forth in Section&nbsp;4 of this Employment Agreement, the Executive will
immediately return to the Company any portion of the Severance Payments that have been paid
to the Executive pursuant to this Section&nbsp;3.2(a)(1). Subject to the foregoing and Section
3.2(e), the Severance Payments will commence to be paid to the Executive on the forty-fifth
(45<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP>) day following the Executive&#146;s termination of employment, except that the
Pro-Rata Bonus shall be paid at the time when annual bonuses are paid generally to the
Company&#146;s senior executives for the year in which the Executive&#146;s termination of employment
occurs.&#148;</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(2) &#147;<U>Window Period Severance</U>. If, during the period commencing on the Transition
Date and ending on December&nbsp;31, 2012 (the &#147;<U>Window Period</U>&#148;), (i)&nbsp;the Executive
resigns for any reason or (ii)&nbsp;the Executive&#146;s employment is terminated by the Company other
than for Cause or Disability, in addition to the Accrued Amounts and in lieu of any payments
and benefits to which the Executive may have otherwise become entitled pursuant to Section
3.2(a)(1) of this Agreement, the Executive shall be entitled to (A)&nbsp;the accelerated vesting
of any unvested shares of restricted common stock of the Company held by the Executive at
such time, including, but not limited to any restricted stock awards made in December&nbsp;2011
(the &#147;<U>Accelerated Vesting</U>&#148;), (B)&nbsp;a Pro-Rata Bonus and (C)&nbsp;solely if such termination
is pursuant to clause (ii)&nbsp;of this Section&nbsp;3.2(a)(2), the continuation of Executive&#146;s Base
Salary at the rate in effect immediately prior to the date of termination</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>until December&nbsp;31, 2012 (the &#147;<U>Base Salary Continuation</U>&#148;). If, during the Window
Period, (I)&nbsp;the Executive&#146;s employment is terminated by the Company other than for Cause or
Disability, or the Executive resigns for Good Reason, in either case within the one (1)&nbsp;year
period following a Change in Control, or (II)&nbsp;the Executive&#146;s termination or resignation is
a Change in Control Related Termination, then, in addition to the payments described above,
the Executive shall be entitled to a payment in an amount equal to $9,167 for each month
during the twelve (12)&nbsp;month period following such termination (pro-rated for any partial
months) (the &#147;<U>Target Bonus Continuation</U>&#148;). The Executive&#146;s entitlement to each of
the payments and benefits set forth in this Section&nbsp;3.2(a)(2) shall be conditioned upon: (x)
the Executive&#146;s continued compliance with Executive&#146;s obligations under Section&nbsp;4 of this
Employment Agreement and (y)&nbsp;the Executive&#146;s execution, delivery and non-revocation of a
valid and enforceable Release in a form reasonably acceptable to the Company and the
Executive that becomes effective not later than forty-five (45)&nbsp;days after the date of such
termination or resignation of employment. Subject to Section&nbsp;3.2(e) hereof, (i)&nbsp;if
applicable, the Base Salary Continuation and the Target Bonus Continuation shall commence to
be paid to the Executive on the forty-fifth (45<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP>) day following the Executive&#146;s
termination of employment, <U>provided</U>, <U>that</U>, the first such payment shall
include payment in respect of all periods subsequent to the Executive&#146;s termination until
the payroll period in respect of which such payment is being made; (ii)&nbsp;the Accelerated
Vesting shall occur on the date that the Release has become effective and irrevocable and
(iii)&nbsp;the Pro-Rata Bonus shall be paid at the time when annual bonuses are paid generally to
the Company&#146;s senior executives for the year 2012. The parties agree that income and
employment taxes will be due and owing with respect to restricted common stock of the
Company held by the Executive as of the earlier of the date that the restricted stock vests
pursuant to this Section&nbsp;3.2(a)(2) or the date that the restricted stock vests pursuant to
the terms of the applicable restricted stock agreement. The parties further agree that
unless the Executive shall satisfy income and employment tax withholding obligations by a
payment to the Company in cash, the Company shall withhold delivery of a number of shares of
restricted stock with a fair market value as of the vesting date equal to the income and
employment taxes owing in satisfaction of the Executive&#146;s income and employment tax
obligations thereon.&#148;</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Section&nbsp;3.2(b) of the Employment Agreement is hereby deleted in its entirety and
replaced with the following:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;&#091;Reserved&#093;.&#148;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The reference to Section&nbsp;3.2(b) in Section&nbsp;3.2(c) of the Employment Agreement is hereby
replaced with a reference to Section&nbsp;3.2(c).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The clause in the proviso to Section&nbsp;3.2(d)(2) of the Employment Agreement that reads
&#147;the payments and benefits set forth in Section&nbsp;3.2(a) and, to the extent either or both
are applicable, Section&nbsp;3.2(b) and Section&nbsp;3.2(c)&#148; shall be replaced with &#147;the payments and
benefits set forth in Section&nbsp;3.2(a) and, to the extent applicable, Section&nbsp;3.2(c)&#148;.</TD>
</TR>




</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Solely for purposes of Section&nbsp;4.2 of the Employment Agreement, the &#147;Restriction
Period&#148; shall be revised to mean the period &#147;during the Term and for a period of thirty
(30)&nbsp;days thereafter.&#148; The length of the Restriction Period for purposes of any other
Section or subsection of the Employment Agreement shall not be changed.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Employment Agreement is amended by adding a new Section&nbsp;4.8 to provide as follows,
and renumbering the remaining subsections of Section&nbsp;4 accordingly:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Non-Disparagement</U>. From and after the date hereof, the Executive shall not make or
publish any untruthful, derogatory or disparaging statements (whether written or oral)
regarding the Company or any of its Affiliates, employees officers or directors, or
otherwise malign the business or reputation of any of them.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The reference to Section&nbsp;3.2(b) in Section&nbsp;8.13 of the Employment Agreement is hereby
replaced with a reference to Section&nbsp;3.2(c).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Executive acknowledges and agrees that Good Reason shall not exist at any time by
reason of the Executive&#146;s ceasing to serve as CFO, the reduction of the Executive&#146;s Base
Salary from $335,000 to $275,000, the reduction of the Executive&#146;s target Annual Bonus from
120% of Base Salary to 40% of Base Salary or any of the other changes to the Employment
Agreement set forth in this Amendment.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Effective as of the last payroll date of the year 2011, the Company shall grant the
Executive a number of shares of restricted common stock of the Company with a fair market
value on the grant date equal to $165,000, subject to the terms of a restricted stock
agreement between the Executive and the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>With the exception of the modifications set forth in this Amendment, all other
provisions of the Employment Agreement shall remain unchanged, and shall continue in full
force and effect.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&#091;signature page follows&#093;
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties have executed this Amendment as of the date set forth below.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">CVR ENERGY, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ John J. Lipinski
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">John J. Lipinski&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">CEO and President
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>

    <TD colspan="2" align="left">Date: November 29, 2011&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">EXECUTIVE:<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Edward Morgan
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">Edward Morgan&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Date: November 29, 2011&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&#091;Signature Page for Amendment to Edward Morgan Second Amended and Restated Employment Agreement&#093;
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



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