<SEC-DOCUMENT>0001193125-14-454901.txt : 20141229
<SEC-HEADER>0001193125-14-454901.hdr.sgml : 20141225
<ACCEPTANCE-DATETIME>20141229115459
ACCESSION NUMBER:		0001193125-14-454901
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20141222
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20141229
DATE AS OF CHANGE:		20141229

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LSB INDUSTRIES INC
		CENTRAL INDEX KEY:			0000060714
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INORGANIC CHEMICALS [2810]
		IRS NUMBER:				731015226
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07677
		FILM NUMBER:		141311386

	BUSINESS ADDRESS:	
		STREET 1:		16 S PENNSYLVANIA
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73101
		BUSINESS PHONE:		4052354546

	MAIL ADDRESS:	
		STREET 1:		16 SOUTH PENNSYLVANIA
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73101
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d843354d8k.htm
<DESCRIPTION>8-K
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<TITLE>8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT TO SECTION 13 OR 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>OF THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of report (Date of earliest event reported): December&nbsp;22, 2014 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>LSB INDUSTRIES, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">1-7677</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">73-1015226</FONT></B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(State or other jurisdiction<BR>of incorporation)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission File</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Number)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>16 South Pennsylvania Avenue, Oklahoma City, Oklahoma</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>73107</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code
<FONT STYLE="white-space:nowrap">(405)&nbsp;235-4546</FONT> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not applicable </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or former address, if changed since last report) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (see General Instruction A.2. below): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;5 &#150; Corporate Governance and Management </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Succession Planning</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On December&nbsp;22, 2014, LSB Industries, Inc. (the &#147;Company&#148;) announced that, in connection with its Board of Directors succession
planning efforts, effective January1, 2015, Jack E. Golsen, the founder of the Company, will transition from Chief Executive Officer of the Company to Executive Chairman of the Board of Directors and Chairman of the Management Executive Committee of
the Company, which transition was approved by the Board of Directors on December&nbsp;22, 2014. The Board of Directors has appointed Barry H. Golsen, currently President and Chief Operating Officer, to serve as President and the new Chief Executive
Officer of the Company, effective on January&nbsp;1, 2015. Barry Golsen will continue to serve as a member of the Company&#146;s Board of Directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As part of the succession planning, the Board of Directors also appointed Mark T. Behrman, currently Senior Vice President of Corporate
Development, to serve as Executive Vice President and Chief Financial Officer (&#147;CFO&#148;), effective as of the Company&#146;s 2015 Annual Meeting of Shareholders. Mr.&nbsp;Behrman will succeed Tony M. Shelby, the Company&#146;s current
Executive Vice President and Chief Financial Officer, who plans to retire in 12 months. Effective as of the Company&#146;s 2015 Annual Meeting of Shareholders, Mr.&nbsp;Shelby will transition from CFO to the role of Executive Vice President to
ensure a methodical and successful transition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Board of Directors has also approved and directed the Company to enter into an
amendment to Jack Golsen&#146;s previously-disclosed existing Employment Agreement to provide that (a)&nbsp;he will serve as an executive officer of the Company in the capacity of Executive Chairman of the Board of Directors; and (b)&nbsp;the term
of his employment agreement will be three years and will be automatically renewed for two additional terms of one year each, unless the Company or Jack Golsen provides notice of termination six months prior to the expiration of the then current
term. The amendment will further provide, among other things, that, upon becoming the Executive Chairman of the Board, Jack Golsen&#146;s responsibilities will generally include assisting the CEO and President in developing overall corporate
strategy and providing leadership, and building consensus, in conjunction with the CEO and President, in the development of the Corporation&#146;s overall strategic plan, capital markets activities and corporate development initiatives within the
context of the corporate strategy. In addition, among other responsibilities, he will chair all Board of Director meetings, serve as the spokesperson for the Board, manage the Board&#146;s functions, coordinate with management to keep the Board
informed, and assist senior management with employee, customer, and stockholder relations. Prior to such amendment, the term of his Employment Agreement would expire on March&nbsp;21, 2017, but would have been automatically renewed for one
additional three-year period and thereafter automatically renew for additional three-year periods, unless terminated by the Company or Jack Golsen at least one year prior to the expiration of the then current term. The amendment to Jack
Golsen&#146;s Employment Agreement is effective January&nbsp;1, 2015. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Barry Golsen</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Barry Golsen, age 64, joined the Company in 1978 as a product manager at International Environmental Corp. (IEC) where he was responsible for
the development and introduction of the Company&#146;s first water source heat pump product line and the startup of CHP Corp. to manufacture and market those products. He became Executive Vice President of IEC in 1979 and IEC&#146;s President in
1980. He spearheaded the growth of the Company&#146;s Climate Control Business with a number of business startups as well as the acquisition of ClimateMaster, Inc. (and its merger with CHP Corp. and subsequent move to Oklahoma City). Under his
leadership, the Company&#146;s Climate Control Business attained leading shares of the U.S. markets for water source and geothermal heat pumps and hydronic fan coils. He has served on the Company&#146;s Board of Directors since 1981, has been Board
Vice-Chairman since 1993, and became the Company&#146;s President and Chief Operating Officer in 2004. A native of Oklahoma City, Barry Golsen attended Cornell University College of Engineering prior to earning both his B.A. and J.D. degrees from
the University of Oklahoma. He was admitted to the Oklahoma Bar in 1978. He is a past Director of the Oklahoma City Branch of the Federal Reserve Bank of Kansas City. He served on the Board of Directors of Equity Bank for Savings, and on many of the
bank&#146;s committees including the loan committee and investment committee. His professional affiliations have included the Oklahoma Bar Association, the American Bar Association, and the American Society of Heating, Refrigeration and
Air-conditioning Engineers, Young Presidents Organization, and World Presidents Organization. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As previously disclosed, the Company has
entered into a change of control Severance Agreement with Barry Golsen, which generally provides that if Barry Golsen is terminated, other than for cause, within 24 months after the occurrence of a change in control of the Company or
he&nbsp;terminates his employment for good reason within such period following a change in control, the Company must pay him an amount equal to 2.9 times his average annual gross salary for the last five years preceding the change in
control.&nbsp;The severance agreement expires on the earlier of (a)&nbsp;three years after the date of the severance agreement, or (b)&nbsp;the date Barry Golsen retires from the Company; however, each anniversary thereafter, the term automatically
extends for an additional one-year period thereafter, unless the Company gives notice otherwise at least 60 days prior to the expiration of the then current term. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Jack E. Golsen is the father of Barry H. Golsen.&nbsp;Additional discussion regarding the information required by this Item&nbsp;5.02 with
respect to Jack Golsen and Barry Golsen may be found in the sections of the Company&#146;s definitive proxy statement for the 2014 annual meeting of shareholders, filed with the Securities and Exchange Commission on April&nbsp;30, 2014, entitled
&#147;Family Relationships,&#148; &#147;Executive Compensation,&#148; &#147;Related Party Transactions,&#148; &#147;Security Ownership of Management,&#148; and &#147;Security Ownership of Certain&nbsp;Beneficial Owners,&#148; which information is
incorporated herein by reference. The information disclosed in these sections has not materially changed since they were last reported. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">At a later date, the Compensation and Stock Option Committee will determine if any changes are to be made to Jack E. Golsen&#146;s or Barry
Golsen&#146;s compensation in their respective new positions. In the meantime, their respective compensation remains unchanged. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Mark Behrman</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Mark Behrman, age 52, joined the Company as Senior Vice President, Corporate Development in March 2014. Mr.&nbsp;Behrman has over 20 years of
investment banking experience with a primary focus on the industrial and business services sectors, previously serving as a Managing Director at Sterne Agee&nbsp;&amp; Leach, Inc., leading the firm&#146;s industrials, transportation, and energy
practices. During his career, Mr.&nbsp;Behrman has originated and executed numerous merger and acquisition transactions, equity and debt capital market transactions and private capital raises for U.S. corporate clients in these sectors.
Mr.&nbsp;Behrman was previously a Founder and Senior Managing Director of BlueStone Capital Partners, LP, where he was part of a team that created Trade.com Global Markets, Inc., and Founder and Director of the BlueStone/AFA Private Equity Fund. He
began his investment banking career at PaineWebber, Incorporated and at Drexel Burnham Lambert, Inc. Additionally, he has been a director of three public companies including Noble International, Ltd. where he served as a Director for over eight
years and as Chairman of its Audit Committee for three years. Mr.&nbsp;Behrman holds a Masters of Business Administration from Hofstra University and a Bachelor of Science in Accounting from Binghamton University. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The terms of Mr.&nbsp;Behrman&#146;s employment are set forth in an offer letter, dated February&nbsp;3, 2014, which outlines, among other
things, Mr.&nbsp;Behrman&#146;s compensation and benefits, which currently remain unchanged as a result of his appointment as CFO. The Company entered into a Severance Agreement with Mr.&nbsp;Behrman. The Severance Agreement provides generally that
if Mr.&nbsp;Behrman is terminated, other than for cause, within 24 months after the occurrence of a change-in-control of the Company or Mr.&nbsp;Behrman terminates his employment for good reason during such period following a change in control, the
Company must pay Mr.&nbsp;Behrman executive an amount equal to 2.9 times his average annual gross salary for the last five years preceding the change in control. The Severance Agreement also provides that the Company will continue to pay his salary
until March&nbsp;3, 2016, if the Company terminated him other than for Cause or if Mr.&nbsp;Behrman terminates his employment for good reason.&nbsp;If Mr.&nbsp;Behrman qualifies for both the change in control payment and the salary continuation
payments, he will be entitled to receive only the change in control payment. Also on March&nbsp;3, 2014, the Company granted to Mr.&nbsp;Behrman a non-qualified stock option (the &#147;NQSO&#148;) under the Company&#146;s 2008 Stock Incentive Plan
for the purchase of up to 150,000 shares of the Company common stock at a purchase price of $32.69 per share, which was the fair market value of the Company&#146;s common stock on the grant date. The NQSO vests ratably over a six-year period and
expires on March&nbsp;3, 2024. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">There are no family relationships between Mr.&nbsp;Behrman and any director or executive officer of the
Company. There are no relationships or related party transactions between Mr.&nbsp;Behrman and the Company that would be required to be reported under Item&nbsp;404(a) of Regulation S-K. There are no arrangements or understandings between
Mr.&nbsp;Behrman and any other person pursuant to which Mr.&nbsp;Behrman was selected as Chief Financial Officer. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;8 &#150; Other Events </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;8.01. Other Events </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On
December&nbsp;23, 2014, the Company issued a press release announcing Jack Golsen&#146;s transition to Executive Chairman of the Board of Directors; Barry Golsen&#146;s appointment as President and Chief Executive Officer; Mark T. Behrman&#146;s
appointment as Executive Vice President and Chief Financial Officer; and Tony M. Shelby&#146;s continuation as an Executive Vice President.&nbsp;A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference
in its entirety. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;9&#151;Financial Statements and Exhibits </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01. Financial Statements and Exhibits. </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Press Release, dated December&nbsp;23, 2014</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Current Report and the attached Press Release include certain forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements generally are identified by use of the words &#147;believes&#148;, &#147;expects&#148;, &#147;intends&#148;, &#147;anticipates&#148;, &#147;plans to&#148;, &#147;estimates&#148;,
&#147;projects&#148;, or similar expressions, including, without limitation changes in position for certain referenced executives of the Company, and ability to excel in the new executive position, the Company executes on its strategic growth
initiatives, prospects for growing and increasing and creating value for our shareholders, sales and profit growth, a successful transition, and strengthens our financial organization over the next 12 months. Actual results may differ materially
from the forward-looking statements as a result of various future events, including without limitation, the various factors described in the &#147;Special Note Regarding Forward-Looking Statements,&#148; and the &#147;Risk Factors&#148; contained in
our most recent 10-K for the year ended December&nbsp;31, 2013, and Form 10-Qs for quarters ended March&nbsp;31,&nbsp;June&nbsp;30 and September&nbsp;30, 2014. These forward looking statements speak only as of the date of this Current Report, and
the Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company&#146;s expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is based.</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>SIGNATURES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: December&nbsp;29, 2014 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3">LSB INDUSTRIES, INC.</TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jack E. Golsen</P></TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Jack E. Golsen, Chief Executive Officer</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<IMG SRC="g843354g08y29.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>FOR IMMEDIATE RELEASE </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LSB INDUSTRIES, INC. ANNOUNCES LEADERSHIP TRANSITION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Jack E. Golsen Appointed Executive Chairman Effective January&nbsp;1, 2015 </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Barry H. Golsen Appointed President and CEO Effective January&nbsp;1, 2015 </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Tony M. Shelby Plans to Retire in Twelve Months and Will Transition from CFO to Executive VP Effective as of the 2015 Annual Meeting of
Shareholders </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Mark T. Behrman Appointed Executive VP and CFO Effective as of the 2015 Annual Meeting of Shareholders
</I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">OKLAHOMA CITY, Oklahoma &#151; December&nbsp;23, 2014 &#151; LSB Industries, Inc. (NYSE:LXU) (&#147;LSB or the Company&#148;), a manufacturer of
chemical products for the agricultural, mining and industrial markets and a leading manufacturer of commercial and residential climate control products, today announced that its Board of Directors has approved a leadership transition plan that
capitalizes on the strength and depth of management. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jack E. Golsen, currently Chairman of the Board and Chief Executive Officer and the founder of LSB,
will step down as CEO and assume the role of Executive Chairman of the Board of Directors, effective January&nbsp;1, 2015. At that time, Barry H. Golsen, currently President and Chief Operating Officer, will assume the role of President and Chief
Executive Officer. Barry Golsen will remain a Director of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LSB also announced that Mark T. Behrman, Senior Vice President of Corporate
Development, has been appointed Executive Vice President and Chief Financial Officer, effective as of the 2015 Annual Meeting of Shareholders. Mr.&nbsp;Behrman will succeed Tony M. Shelby, LSB&#146;s Executive Vice President and Chief Financial
Officer, who plans to retire in twelve months. Effective as of the 2015 Annual Meeting of Shareholders, Tony Shelby will transition from CFO to the role of Executive Vice President to ensure a methodical and successful transition. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;The Board regularly discusses succession planning to ensure that LSB has the leadership it needs to succeed, and these appointments are a testament to
the strength of our management team,&#148; said Robert H. Henry, Chairman of the Nominating and Corporate Governance Committee of the Board. &#147;Jack has been an exceptional CEO in guiding the company since its founding in 1969. With Jack at the
helm, LSB has grown into a leading climate control and chemicals business, with deep customer relationships. We look forward to continuing to benefit from his significant business and industry expertise as LSB executes on its strategic growth
initiatives. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Furthermore, we believe that Barry will excel as LSB&#146;s next CEO given his depth of knowledge and understanding of the
Company&#146;s businesses and his demonstrated leadership abilities throughout his 36 years with the Company.&#148; </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jack E. Golsen, Chairman and CEO of LSB said, &#147;It has been an honor and a privilege to serve as LSB&#146;s
CEO for the past 45 years and I look forward to continuing to work with the Board and management team as LSB enters its next chapter of growth and success. We are fortunate to have a strong executive team in place with a deep bench of leadership
talent to aid in a seamless transition. On behalf of the Board of Directors and management team, I want to thank Tony for his leadership and significant contributions to the growth of LSB as CFO, and prior to that as a director. He is an integral
part of our executive leadership team and we look forward to continuing to benefit from his skills and experience during the next year.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barry H.
Golsen, President and COO of LSB said, &#147;LSB has a range of exciting initiatives underway and great prospects for growing and creating value for our shareholders. I am looking forward to continuing to work with LSB&#146;s team, our customers,
shareholders, and other stakeholders as we continue to execute our strategy to develop world class operations. I want to thank Tony for his leadership over the past 45 years which has been instrumental in building LSB and strengthening our finance
organization. I also want to congratulate Mark. Since joining LSB earlier this year, he has quickly become an important member of the management team. He has strong relationships and is well respected by the financial community for his extensive
industry and financial experience. I look forward to working closely with the talented LSB team as we remain focused on driving sales and profit growth and increased long-term value for our shareholders.&#148; </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Jack Golsen </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jack Golsen founded LSB Industries in
1969 and has served as Chairman of the Board of Directors and Chief Executive Officer since the Company&#146;s inception. Mr.&nbsp;Golsen previously served as the Company&#146;s President from 1969 until 2004. Mr.&nbsp;Golsen was inducted into the
Oklahoma Commerce and Industry Hall of Honor as one of Oklahoma&#146;s leading industrialists in 1996. Mr.&nbsp;Golsen is a Trustee of Oklahoma City University and has served on its Finance Committee for many years. Mr.&nbsp;Golsen previously served
on the boards of insurance companies, several banks and was Board Chairman of Equity Bank for Savings N.A., which was formerly owned by the Company. In 1972, he was nationally recognized as the person who prevented a widespread collapse of the Wall
Street investment banking industry, as referenced in &#147;The Second Crash&#148; by Charles Ellis, and six additional books about the Wall Street crisis. Mr.&nbsp;Golsen has a Bachelor of Science degree from the University of New Mexico. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Barry Golsen </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barry Golsen is Board Vice-Chairman,
President and Chief Operating Officer of LSB Industries. Mr.&nbsp;Golsen joined LSB Industries in 1978 as a product manager at International Environmental Corp. (IEC) where he was responsible for the development and introduction of LSB&#146;s first
water source heat pump product line and the startup of CHP Corp. to manufacture and market those products. He became Executive Vice President of IEC in 1979 and IEC&#146;s President in 1980. Mr.&nbsp;Golsen spearheaded the growth of LSB&#146;s
Climate Control Business with a number of business startups as well as the acquisition of Climate Master, Inc. (and its merger with CHP Corp. and subsequent move to Oklahoma City). Under his leadership, LSB&#146;s Climate Control Business attained
leading shares of the U.S. markets for water source and geothermal heat pumps and hydronic fan coils. Mr.&nbsp;Golsen has served on the LSB Board of Directors since 1981, has been Board Vice-Chairman of LSB since 1993, and became LSB&#146;s
President and Chief Operating Officer in 2004. A native of Oklahoma City, Mr.&nbsp;Golsen attended Cornell University College of Engineering prior to earning both his B.A. and J.D. degrees from the University of Oklahoma. He was admitted to the
Oklahoma Bar in 1978. Mr.&nbsp;Golsen is a past Director of the Oklahoma City Branch of the Federal Reserve Bank of Kansas City. Mr.&nbsp;Golsen served on the Board of Directors of Equity Bank for Savings, and on many of the bank&#146;s committees
including the loan committee and investment committee. His professional affiliations have included the Oklahoma Bar Association, the American Bar Association, and the American Society of Heating, Refrigeration and Air-conditioning Engineers, Young
Presidents Organization, and World Presidents Organization. </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">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Mark Behrman </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mark Behrman joined LSB as Senior Vice President, Corporate Development in March 2014. Mr.&nbsp;Behrman has over 20 years of investment banking experience with
a primary focus on the industrial and business services sectors, previously serving as a Managing Director at Sterne Agee&nbsp;&amp; Leach, Inc., leading the firm&#146;s industrials, transportation, and energy practices. During his career,
Mr.&nbsp;Behrman has originated and executed numerous merger and acquisition transactions, equity and debt capital market transactions and private capital raises for U.S. corporate clients in these sectors. Mr.&nbsp;Behrman was previously a Founder
and Senior Managing Director of BlueStone Capital Partners, LP, where he was part of a team that created Trade.com Global Markets, Inc., and Founder and Director of the BlueStone/AFA Private Equity Fund. He began his investment banking career at
PaineWebber, Incorporated and at Drexel Burnham Lambert, Inc. Additionally, he has been a director of three public companies including Noble International, Ltd. where he served as a Director for over 8 years and as Chairman of its Audit Committee
for three years. Mr.&nbsp;Behrman holds a Masters of Business Administration from Hofstra University and a Bachelor of Science in Accounting from Binghamton University. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Tony Shelby </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tony Shelby is Executive Vice
President of Finance and Chief Financial Officer of LSB Industries, a position he has held since 1971. Mr.&nbsp;Shelby has served as a member of the LSB executive management team since inception in 1969 and served as a Director from 1971 until 2014.
Mr.&nbsp;Shelby, along with Jack Golsen, guided the formation of and the growth of LSB&#146;s Chemical Business through a number of acquisitions and construction projects beginning with the acquisition of the El Dorado Facility in 1984.
Mr.&nbsp;Shelby served on the Board of Directors and the Executive Committee of Equity Bank for Savings. N.A. Prior to joining LSB, Mr.&nbsp;Shelby was with the accounting firm of Arthur Young&nbsp;&amp; Co., a predecessor to Ernst&nbsp;&amp; Young
LLP. Mr.&nbsp;Shelby has a Bachelor of Science in Business degree from Oklahoma City University, is a certified public accountant, a member of the Oklahoma Society of CPAs, and the American Institute of CPAs. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About LSB Industries, Inc. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LSB is a manufacturing and
marketing company. LSB&#146;s principal business activities consist of the manufacture and sale of chemical products for the agricultural, mining, and industrial markets, and the manufacture and sale of commercial and residential climate control
products, such as water source and geothermal heat pumps, hydronic fan coils, modular chillers, large custom air handlers and make-up air units. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>This
press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by use of the words &#147;believes&#148;,
&#147;expects&#148;, &#147;intends&#148;, &#147;anticipates&#148;, &#147;plans to&#148;, &#147;estimates&#148;, &#147;projects&#148;, or similar expressions, including, without limitation changes in position for certain referenced executives of the
Company, and ability to excel in the new executive position, LSB executes on its strategic growth initiatives, prospects for growing and increasing and creating value for our shareholders, sales and profit growth, a successful transition, and
strengthens our financial organization over the next 12 months. Actual results may differ materially from the forward-looking statements as a result of various future events, including without limitation, the various factors described in the
&#147;Special Note Regarding Forward-Looking Statements,&#148; and the &#147;Risk Factors&#148; contained in our most recent 10-K for the year ended December&nbsp;31, 2013, and Form 10-Qs for quarters ended&nbsp;March 31,&nbsp;June
30&nbsp;and&nbsp;September 30, 2014. These forward looking statements speak only as of the date of this press release, and LSB expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement
contained herein to reflect any change in LSB&#146;s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. </I></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">3 </P>


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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Company Contact:</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tony M. Shelby, Chief
Financial Officer</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mark Behrman, Senior Vice President, Corporate Development</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">(405) 235-4546</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investor Relations Contact:</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fred
Buonocore (212) 836-9607</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Linda Latman (212) 836-9609</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">The
Equity Group Inc.</P></TD></TR>
</TABLE>
 <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">4 </P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
