<SEC-DOCUMENT>0001193125-15-161375.txt : 20150430
<SEC-HEADER>0001193125-15-161375.hdr.sgml : 20150430
<ACCEPTANCE-DATETIME>20150430151500
ACCESSION NUMBER:		0001193125-15-161375
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		10
CONFORMED PERIOD OF REPORT:	20150426
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150430
DATE AS OF CHANGE:		20150430

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:		15817795

	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>d918969d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <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): <U>April&nbsp;26, 2015</U> </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>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<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>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></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</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></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>(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>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<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>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<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>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<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>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<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>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<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>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<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">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>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;1 &#150; Registrant&#146;s Business and Operations </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;1.01. Entry into a Material Definitive Agreement. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Agreement with Starboard Value </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On April&nbsp;26, 2015, LSB Industries, Inc. (the &#147;Company&#148;) entered into an agreement (the &#147;Settlement Agreement&#148;) with
Starboard Value LP and certain of its affiliates (collectively, &#147;Starboard&#148;). Pursuant to the Settlement Agreement, the Company agreed, among other things, to: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) increase the size of the Board of Directors (the &#147;Board&#148;) from 10 to 13 members; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) elect Louis S. Massimo, Andrew K. Mittag, Marran H. Ogilvie, Richard W. Roedel and Lynn F. White (collectively, the &#147;New
Appointees&#148;) to the Board effective as of the close of the meeting of the Board of Directors on April&nbsp;26, 2015, to fill the vacancies and newly created director positions on the Board of Directors, and to accept the Board resignations of
Gail Lapidus and Robert Henry, effective as of the close of the meeting of the Board of Directors April&nbsp;26, 2015; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) nominate and
solicit proxies for the election of the New Appointees to the Board at the 2015 annual meeting to serve in the classes of directors set forth therein; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) appoint Daniel D. Greenwell as Lead Independent Director and Chairman of the Audit Committee, effective as of the close of the meeting of
the Board of Directors on April&nbsp;26, 2015; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) announce the Company&#146;s intention to (i)&nbsp;separate the Company&#146;s Chemical
and Climate Control businesses in 2016 following the completion and opening of the El Dorado facility expansion projects and subject to market conditions and Board approval and (ii)&nbsp;explore a master limited partnership (MLP) structure for the
Company&#146;s Chemical business following the completion and opening of the El Dorado facility expansion projects in 2016; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) form a
special committee to oversee the search for a new executive to lead the Company&#146;s Chemical business, which shall consist of Messrs. Richard S. Sanders, Daniel D. Greenwell, Andrew K. Mittag and Lynn F. White; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) expand the role of the Board&#146;s Strategic Committee to include an evaluation of the Company&#146;s corporate governance and management
structure, related party transactions and any other governance practices deemed appropriate with any recommendations that are approved by the Board to be announced simultaneously with the Company&#146;s public announcement of its financial results
as of and for the six months ended June&nbsp;30, 2015; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) determine the Company&#146;s director nominees for its 2016 annual meeting of
stockholders, based on a majority vote of the independent directors; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) appoint the following to committees of the Board, effective as
of the close of the meeting of the Board of Directors on April&nbsp;26, 2015: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="14%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Ms.&nbsp;Ogilvie to the Nominating and Corporate Governance Committee, </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="14%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Mr.&nbsp;Massimo to the Audit Committee, </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="14%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Mr.&nbsp;Mittag to the Compensation and Stock Option Committee, </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="14%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Mr.&nbsp;Roedel to both the Compensation and Stock Option Committee and the Audit Committee, and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="14%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Mr.&nbsp;White to the Nominating and Corporate Governance Committee; and </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) not increase the
size of the Board to more than 13 directors or seek to change the classes on which the Board members serve. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the terms of the
Settlement Agreement, Starboard agreed, among other things: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) to withdraw its nomination notice which Starboard had confidentially
submitted to the Company; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) not to nominate any person for election at the 2015 annual meeting; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) not to submit any proposal for consideration at, or bring any other business before, the 2015 annual meeting; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) not to initiate, encourage or participate in any &#147;withhold&#148; or similar campaign with respect to the 2015 Annual Meeting; and
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) to appear in person or by proxy at the 2015 Annual Meeting and vote all Company securities beneficially owned by it in favor of the
election of each of the Company&#146;s nominees to the Board, including Barry H. Golsen and Richard S. Sanders, Jr., and in accordance with the Board&#146;s recommendation with respect to the Company&#146;s &#147;say-on-pay&#148; proposal unless
Institutional Shareholder Services, Inc. recommends against such &#147;say-on-pay&#148; proposal. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Settlement Agreement also provides
that if any of the New Appointees is unable to serve as a director, resigns or is removed as a director prior to the end of the Standstill Period (as defined below) and at such time Starboard beneficially owns in the aggregate at least the lesser of
(a)&nbsp;3% of the Company&#146;s then outstanding common stock and (b)&nbsp;679,748 shares of the Company&#146;s common stock, then Starboard and the Company will discuss in good faith the mutual recommendation of a substitute person(s) who meets
certain independence and experience criteria for approval by the Nominating and Corporate Governance Committee and appointment by the Board within five business days after such committee&#146;s approval. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Starboard also agreed to certain customary standstill provisions, effective as of the date of the Settlement Agreement through the earlier of
(a)&nbsp;15 business days prior to the deadline for the submission of stockholder nominations for the 2016 annual meeting of stockholders or (b)&nbsp;135 days prior to the anniversary date of the 2015 annual meeting (the &#147;Standstill
Period&#148;). The standstill provisions generally prohibit Starboard from taking specified actions with respect to the Company and its securities, including, among others: (a)&nbsp;soliciting or participating in the solicitation of proxies;
(b)&nbsp;joining any &#147;group&#148; or becoming party to any voting arrangement or agreement; (c)&nbsp;seeking or encouraging others to submit nominations for election or removal of directors; (d)&nbsp;making stockholder proposals or offers with
respect to mergers, acquisitions and other business combinations; or (e)&nbsp;seeking board representation other than as provided in the Settlement Agreement. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The above summary is qualified in its entirety by reference to the full text of the Settlement
Agreement, a copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference. In addition, the full text of the related press release announcing the Settlement Agreement is attached hereto as Exhibit
99.2 to this report, and both exhibits are hereby incorporated by reference herein </P> <P STYLE="margin-top:18pt; 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; margin-left:8%; font-size:10pt; font-family:Times New Roman"><I>Resignations of Henry and Lapidus and Appointments of New Directors </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Pursuant to the Settlement Agreement, on April&nbsp;26, 2015, Robert Henry and Gail Lapidus each tendered their resignation from the Board of
Directors of the Company and all committees thereof, effective as of the close of the meeting of the Board of Directors on April&nbsp;26, 2015. Mr.&nbsp;Henry&#146;s and Ms.&nbsp;Lapidus&#146; resignations did not involve any disagreement with the
Board of Directors, the Company or its management on any matter relating the Company&#146;s operations, policies, or practices. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Effective
as of the close of the Board meeting on April&nbsp;26, 2015, Louis S. Massimo and Andrew K. Mittag were appointed to the Board of Directors to fill the vacancies created by the resignations of Ms.&nbsp;Lapidus and Mr.&nbsp;Henry. In addition, Marran
H. Ogilvie, Richard W. Roedel and Lynn F. White were appointed to the Board of Directors effective at that time to fill newly created director positions. These appointments were pursuant to the Settlement Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">None of the New Appointees has any family relationships with any of the Company&#146;s directors or executive officers and each is not a party
to any transactions of the type listed in Item&nbsp;404(a) of Regulation S-K. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The information set forth in Item&nbsp;1.01 of this Current
Report with respect to the Company&#146;s directors and the New Appointees, including without limitation, the appointments of the New Appointees to serve as members of various committees of the Board of Directors, is incorporated by reference in
this Item&nbsp;5.02. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><I>Golsen Agreement </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In connection with the Board&#146;s succession planning efforts, on April&nbsp;27, 2015, the Company entered into an employment agreement (the
&#147;Golsen Agreement&#148;) with Barry H. Golsen, our Chief Executive Officer and President. The initial term of the agreement ends April&nbsp;27, 2018, and will automatically be extended for one year, unless terminated by written notice six
months before April&nbsp;27, 2018, either by the Company or Mr.&nbsp;Golsen. Under the Golsen Agreement, Mr.&nbsp;Golsen receives (a)&nbsp;an annual base salary of $800,000, as may be increased from time to time by the Board&#146;s Compensation and
Stock Option Committee (the &#147;Compensation Committee&#148;) and (b)&nbsp;an annual bonus at the discretion of the Compensation Committee, with a target of not less than 100% of annual base salary, but not to exceed 200% of annual base salary.
</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Golsen Agreement also provides that Mr.&nbsp;Golsen will be entitled to participate in any
equity plan adopted by the Company and entitled to participate in all insurance and other employee benefit plans and programs as generally are made available to executive personnel of the Company. In addition, the Agreement provides for certain
benefits payments upon termination of Mr.&nbsp;Golsen&#146;s employment under certain circumstances, including a change in control of the Company, as defined in the Golsen Agreement. The Company&#146;s obligation to pay certain of these benefits is
subject to the execution and delivery of a release of claims against the Company by Mr.&nbsp;Golsen (with certain exceptions). The Golsen Agreement terminates Mr.&nbsp;Golsen&#146;s existing Severance Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The forgoing does not constitute a complete summary of the terms of the Golsen Agreement and reference is made to the complete form of the
Golsen Agreement that is attached as Exhibit 99.3. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><I>Behrman Agreement </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Mark T. Behrman currently serves as our Senior Vice President-Corporate Development, a role he has had since joining the Company on
March&nbsp;3, 2014. Upon his initial employment on March&nbsp;3, 2014, the Company, among other things, 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&#146;s 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. This NQSO vests over a six-year period and expires on
March&nbsp;3, 2024. His current salary is $300,000 per year. In connection with our Board&#146;s succession planning efforts, on December&nbsp;22, 2014, the Board of Directors appointed Mr.&nbsp;Behrman to serve as Executive Vice President and Chief
Financial Officer of the Company, effective as of the 2015 annual meeting. Mr.&nbsp;Behrman will succeed Tony M. Shelby, our current Executive Vice President and Chief Financial Officer, in such roles. As a result of his approaching transition to
Chief Financial Officer and as part of the Board&#146;s succession planning efforts, on April&nbsp;27, 2015, entered into an employment agreement with Mr.&nbsp;Behrman (the &#147;Behrman Agreement&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The initial term of Mr.&nbsp;Behrman&#146;s agreement ends April&nbsp;27, 2018, and will automatically be extended for one year, unless
terminated by written notice six months before April&nbsp;27, 2018, either by the Company or Mr.&nbsp;Behrman. Under the Behrman Agreement, commencing on the date of the 2015 annual meeting (scheduled for June&nbsp;25, 2015), Mr.&nbsp;Behrman will
receive (a)&nbsp;an annual base salary of $400,000, as such may be increased from time to time by the Compensation Committee, (b)&nbsp;a bonus for 2014 of at least $150,000 (in accordance with the signing incentive guaranteed to him in March 2014),
(c)&nbsp;an annual bonus at the discretion of the Compensation Committee, not to exceed 150% of his annual base salary and (d)&nbsp;the grant of a NQSO under the Company&#146;s 2008 Stock Incentive Plan for the purchase of up to 50,000 shares of the
Company&#146;s common stock at a purchase price equal to the fair market value of the Company&#146;s common stock on the grant date, which will vest ratably over a six-year period and expires on the
10<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> anniversary of the grant date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Behrman Agreement also provides that
Mr.&nbsp;Behrman will be entitled to participate in any equity plan adopted by the Company and entitled to participate in all insurance and other </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
employee benefit plans and programs as generally are made available to executive personnel of the Company. In addition, the Agreement provides for certain benefits payments upon termination of
Mr.&nbsp;Behrman&#146;s employment under certain circumstances, including a change in control of the Company, as defined in the Behrman Agreement. The Company&#146;s obligation to pay certain of these benefits is subject to the execution and
delivery of a release of claims against the Company by Mr.&nbsp;Behrman (with certain exceptions). The Behrman Agreement terminates Mr.&nbsp;Behrman&#146;s existing Severance Agreement, and effective as of the 2015 annual meeting, the current terms
of his employment will be superseded by the Behrman Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The forgoing does not constitute a complete summary of the terms of the
Behrman Agreement and Mr.&nbsp;Behrman&#146;s initial employment and reference is made to the complete form of the Behrman Agreement that is attached as Exhibit 99.4 and the Offer Letter that is attached as Exhibit 99.5. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><I>Amendment to Severance Agreements </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On April&nbsp;27, 2015, the Company amended its existing severance agreements with certain executive officers and other officers of the Company
or its subsidiaries, including Tony M. Shelby (Executive Vice President Finance and Chief Financial Officer of the Company), David R. Goss (Executive Vice President of Operations of the Company), and David M. Shear (Senior Vice President and General
Counsel of the Company). As amended, each severance agreement provides that if, within 24 months after the occurrence of a change in control (as defined) of the Company, the officer&#146;s employment is terminated other than for cause (as defined),
or the officer terminates his employment for good reason (as defined), the Company must pay the officer an amount equal to 2.9 times the officer&#146;s base amount (as defined). Further, except in the case of Jack E. Golsen&#146;s severance
agreement, if the Company terminates the officer&#146;s employment within 24 months of a determination by the Board or the Chief Executive Officer that the officer should be terminated without cause (as defined), the Company must pay the officer an
amount equal to two times the officer&#146;s base amount (as defined). The Company&#146;s obligation to pay these amounts is subject to the execution and delivery of a release of claims against the Company by the officer (with certain exceptions).
The term &#147;base amount&#148; means the average annual gross compensation (salary and bonus) paid by the Company to the officer and includable in the officer&#146;s gross income during the most recent five-year period immediately preceding the
change in control. The severance arrangements for Barry Golsen and Mark Behrman are contained in their employment agreements with the Company, which are described above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The existing Severance Agreement with Jack Golsen was amended to (a)&nbsp;conform the definition of change in control to the definition set
forth in the Severance Agreements described above, and (b)&nbsp;include a provision to limit the amount of severance compensation upon certain terminations following a change in control to the amount that would not result in excise tax to the
Company under Section&nbsp;280G of the Internal Revenue Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The forgoing does not constitute a complete summary of the terms of the
Amended and Restated Severance Agreements and reference is made to the form of Amended and Restated Severance Agreement that is attached as Exhibit 99.6, and the 2015 Amendment to Severance Agreement with Jack E. Golsen that is attached as Exhibit
99.7 </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On April&nbsp;26, 2015, the Board of Directors the Company adopted and approved an amendment to the Company&#146;s Amended and Restated Bylaws,
dated August&nbsp;21, 2014. In accordance with the Settlement Agreement, the amendment increases the maximum number of members of the Board from 10 to 13. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Company&#146;s Fifth Amendment to the Amended and Restated Bylaws, dated April&nbsp;26, 2015, is attached hereto as Exhibit 3(ii) and are
incorporated herein by reference. </P> <P STYLE="margin-top:18pt; 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:8%; font-size:10pt; font-family:Times New Roman">On
April&nbsp;27, 2015, the Company issued a press release announcing the execution of the Settlement Agreement and the matters described in Item&nbsp;1.01 of this Current Report. A copy of the press release is furnished as Exhibit 99.2 to this Current
Report on Form 8-K. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;9 &#150; 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="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>(d) Exhibits. </I></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="94%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;3(ii)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Fifth Amendment to Amended and Restated Bylaws of LSB Industries, Inc., dated April&nbsp;26, 2015.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Settlement Agreement, dated April 26, 2015, by and among the Company and Starboard Value LP.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.2</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Press Release, dated April 27, 2015.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.3</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Employment Agreement, dated April 27, 2015, by and among the Company and Barry H. Golsen.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.4</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Employment Agreement, dated April 27, 2015, by and among the Company and Mark T. Behrman.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.5</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Offer Letter, dated February 5, 2014, and Non-Qualified Stock Option Agreement, dated March 3, 2014, by and among the Company to Mark T. Behrman.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.6</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Amended and Restated Severance Agreement, dated April&nbsp;27, 2015, by and among the Company and Tony M. Shelby. Substantially similar Amended and Restated Severance Agreements, each dated April&nbsp;27, 2015, between the Company
and each of David R. Goss, Phil Gough, Greg Withrow, James Murray, III, Michael Tepper, Paul Rydlund, Steven Golsen, Heidi Brown, and David Shear are not attached hereto, but will be provided to the Securities and Exchange Commission upon
request.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.7</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">2015 Amendment to Severance Agreement, dated April&nbsp;27, 2015, by and among the Company and Jack E. Golsen.</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <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:8%; 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: April&nbsp;30, 2015 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">LSB INDUSTRIES, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Tony M. Shelby</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Tony M. Shelby</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Executive Vice President Chief Financial Officer</TD></TR>
</TABLE></DIV>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.(II)
<SEQUENCE>2
<FILENAME>d918969dex3ii.htm
<DESCRIPTION>EX-3.(II)
<TEXT>
<HTML><HEAD>
<TITLE>EX-3.(ii)</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 3(ii) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FIFTH AMENDMENT TO THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDED AND RESTATED BYLAWS </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OF </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LSB INDUSTRIES, INC.
</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; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Fifth Amendment to the Amended and Restated Bylaws of LSB Industries, Inc. (the &#147;Corporation&#148;), dated August&nbsp;20, 2009, as
amended by the First Amendment, dated February&nbsp;18, 2010, the Second Amendment, dated January&nbsp;17, 2014, the Third Amendment, dated February&nbsp;4, 2014, and the Fourth Amendment, dated August&nbsp;21, 2014 (together, the
&#147;Bylaws&#148;), which amends the Bylaws to increase the maximum number of members of the Board of Directors of the Corporation from ten to thirteen directors, was unanimously approved and adopted by the Board of Directors of the Corporation at
their meeting held on April&nbsp;26, 2015: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <U>Amendment to ARTICLE IV, Section&nbsp;1. &#147;Number, Term, Qualifications and Vacancies.</U>&#148; The
second sentence of Section&nbsp;1 of ARTICLE IV of the Bylaws is hereby deleted in its entirety, and the following new sentence is substituted in lieu thereof: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;The number of directors that shall constitute the whole Board of Directors may be fixed from time to time pursuant to a
resolution adopted by a vote of two-thirds of the entire Board of Directors and may consist of no fewer than three nor more than thirteen members.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. The Bylaws, as amended and modified by this Fifth Amendment to the Amended and Restated Bylaws of LSB Industries, Inc., sets forth the entire bylaws of LSB
Industries, Inc. This Fifth Amendment to the Amended and Restated Bylaws of LSB Industries, Inc. is effective April&nbsp;26, 2015, the date the Board of Directors unanimously adopted and approved such amendment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Dated: April&nbsp;26, 2015 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">LSB INDUSTRIES, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <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>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Jack E. Golsen</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Executive Chairman of the Board</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ David M. Shear</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">David M. Shear, Secretary</TD></TR>
</TABLE></DIV>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>d918969dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <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="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXECUTION VERSION </P> <P STYLE="margin-top:12pt; 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:13%; font-size:10pt; font-family:Times New Roman">This Agreement (this &#147;<U>Agreement</U>&#148;) is made and entered into as of April&nbsp;26, 2015, by and among LSB Industries,
Inc. (the &#147;<U>Company</U>&#148;) and the entities and natural persons listed on <U>Exhibit A</U> hereto and their respective Affiliates and Associates (collectively, &#147;<U>Starboard</U>&#148;) (each of the Company and Starboard, a
&#147;<U>Party</U>&#148; to this Agreement, and collectively, the &#147;<U>Parties</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">RECITALS </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company and Starboard have engaged in discussions and communications concerning the Company&#146;s business, financial
performance and strategic plans; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">WHEREAS, Starboard is deemed to beneficially own shares of common stock of the Company (the
&#147;<U>Common Stock</U>&#148;) totaling, in the aggregate, 1,725,000 shares, or approximately 7.6% percent, of the Common Stock of the Company issued and outstanding on the date of this Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">WHEREAS, Starboard submitted a nomination letter to the Company on March&nbsp;10, 2015 (the &#147;<U>Nomination Letter</U>&#148;) nominating
director candidates to be elected to the Company&#146;s board of directors (the &#147;<U>Board</U>&#148;) at the 2015 annual meeting of stockholders of the Company (the &#147;<U>2015 Annual Meeting</U>&#148;); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company and Starboard have determined to come to an agreement with respect to the election of members of the Board at the 2015
Annual Meeting, the election by the Board of five new directors, certain matters related to the 2015 Annual Meeting and certain other matters, as provided in this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants and agreements contained herein, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1. <U>Board Matters; Board Appointments; 2015 Annual Meeting</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(a) The Company agrees that the Board and all applicable committees of the Board shall, effective as of the date of this Agreement, take all
necessary actions to increase the size of the Board to thirteen (13)&nbsp;and elect to the Board the following five individuals: Louis S. Massimo (&#147;<U>Mr. Massimo</U>&#148;), Andrew K. Mittag (&#147;<U>Mr. Mittag</U>&#148;), Marran H. Ogilvie
(&#147;<U>Ms. Ogilvie</U>&#148;), Richard W. Roedel (&#147;<U>Mr. Roedel</U>&#148;) and Lynn F. White (&#147;<U>Mr. White</U>,&#148; and with Ms.&nbsp;Ogilvie and Messrs. Massimo, Mittag and Roedel, the &#147;<U>New Appointees</U>&#148;). Messrs.
Mittag and White shall fill the vacancies created by the resignations of Ms.&nbsp;Gail Lapidus and Robert Henry, who the Company hereby represents have submitted, or shall no later than the date hereof submit, letters of resignation to the Board
that will become effective upon the election of their respective successors to the Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(b) The Company agrees that the Board shall
nominate the following seven individuals for election to the Board at the 2015 Annual Meeting: each New Appointee and </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Messrs. Richard Sanders and Barry Golsen. Ms.&nbsp;Ogilvie and Messrs. Roedel, Sanders, White and Barry Golsen shall be designated as nominees for the class of directors with terms expiring at
the 2018 annual meeting of stockholders (the &#147;<U>2018 Annual Meeting</U>&#148;), and Messrs. Massimo and Mittag shall be designated as nominees for the class of directors with terms expiring at the 2017 annual meeting of stockholders (the
&#147;<U>2017 Annual Meeting</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(c) The Company agrees that the Board and all applicable committees of the Board shall,
effective as of the date of this Agreement, take all necessary actions to appoint Daniel D. Greenwell as lead independent director. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(d)
The Company agrees that the Board and all applicable committees of the Board shall, effective as of the date of this Agreement, take all necessary actions to appoint Mr.&nbsp;Greenwell as Chairman of the Audit Committee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(e) The Company agrees that the Board and all applicable committees of the Board shall, effective as of the date of this Agreement, take all
necessary actions to appoint the New Appointees to the following committees of the Board: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="23%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="25%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="25%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Nominating&nbsp;and</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Corporate&nbsp;Governance</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Compensation&nbsp;and</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Stock Option</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Audit</TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">Ms. Ogilvie</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">x</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">Mr. Massimo</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">x</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">Mr. Mittag</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">x</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">Mr. Roedel</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">x</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">x</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">Mr. White</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">x</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(f) The New Appointees, in addition to all current directors, will be required to: (i)&nbsp;comply with all
policies, procedures, processes, codes, rules, standards and guidelines applicable to members of the Board; (ii)&nbsp;keep confidential all Company confidential information and to not disclose to any third parties (including Starboard) discussions
or matters considered in meetings of the Board or Board committees; and (iii)&nbsp;complete the Company&#146;s standard director&nbsp;&amp; officer questionnaire and other reasonable and customary director onboarding documentation (including a
representation agreement) required by the Company in connection with the election of Board members. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(g) Upon the execution of this
Agreement and the election of the New Appointees, Starboard irrevocably withdraws its Nomination Letter and agrees not to (i)&nbsp;nominate any person for election at the 2015 Annual Meeting, (ii)&nbsp;submit any proposal for consideration at, or
bring any other business before, the 2015 Annual Meeting, directly or indirectly, or (iii)&nbsp;initiate, encourage or participate in any &#147;withhold&#148; or similar campaign with respect to the 2015 Annual Meeting, directly or indirectly, and
shall not permit any of its Affiliates or Associates to do any of the items in this Section&nbsp;1(g). Starboard agrees that it will not publicly or privately encourage or support any other stockholder or person to take any of the actions described
in this Section&nbsp;1(g). </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>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(h) The Company agrees that it will recommend, support and solicit proxies for the election of
the New Appointees at the 2015 Annual Meeting in the same manner as Messrs. Sanders and Barry Golsen. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) The Company agrees that if any
of the New Appointees or any Replacement Director (as defined below) is unable to serve as a director, resigns as a director or is removed as a director prior to the end of the Standstill Period (as defined below), and at such time Starboard
beneficially owns in the aggregate at least the lesser of 3.0% of the Company&#146;s then outstanding Common Stock and 679,748 shares of Common Stock (subject to adjustment for stock splits, reclassifications, combinations and similar adjustments)
(the &#147;<U>Minimum Ownership Level</U>&#148;), the Company and Starboard shall discuss in good faith the mutual recommendation to the Nominating and Corporate Governance Committee of the Board (the &#147;<U>Governance Committee</U>&#148;) of the
appointment of a substitute person to fill the resulting vacancy in the class of directors with terms expiring at the 2018 Annual Meeting (in the case of Ms.&nbsp;Ogilvie or Messrs. Roedel or White) or the 2017 Annual Meeting (in the case of Messrs.
Massimo or Mittag), which person shall (i)&nbsp;be independent of Starboard, (ii)&nbsp;qualify as &#147;independent&#148; pursuant to NYSE listing standards, and (iii)&nbsp;have relevant financial and business experience. The appointment of any such
person to the Board will be subject to the approval of the Governance Committee, in its discretion, after exercising its fiduciary duties in good faith, which approval shall not be unreasonably withheld (any such replacement nominee appointed in
accordance with the terms of this Section&nbsp;1(i) shall be referred to as a &#147;<U>Replacement Director</U>&#148;). In the event the Governance Committee does not accept a substitute person recommended by Starboard, Starboard will have the right
to recommend additional substitute person(s), who will also be independent of Starboard, qualify as &#147;independent&#148; pursuant to NYSE listing standards, and have relevant financial and business experience, and whose appointment shall be
subject to the approval of the Governance Committee, in its discretion, after exercising its fiduciary duties in good faith, which approval shall not be unreasonably withheld. Upon the acceptance of a Replacement Director nominee by the Governance
Committee, the Board will appoint such Replacement Director to the Board no later than five (5)&nbsp;business days after the Governance Committee recommendation of such Replacement Director. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(j) Starboard agrees to appear in person or by proxy at the 2015 Annual Meeting and vote all shares of Common Stock beneficially owned by it
(i)&nbsp;in favor of the election of each of the Company&#146;s nominees for election to the Board and (ii)&nbsp;in accordance with the Board&#146;s recommendation with respect to the Company&#146;s &#147;say-on-pay&#148; proposal unless
Institutional Shareholder Services Inc. recommends against the &#147;say-on-pay&#148; proposal. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(k) Starboard agrees that it will cause
its Affiliates and Associates to comply with the terms of this Agreement. As used in this Agreement, the terms &#147;Affiliate&#148; and &#147;Associate&#148; shall have the respective meanings set forth in Rule 12b-2 promulgated by the Securities
and Exchange Commission under the Securities Exchange Act of 1934, as amended, or the rules or regulations promulgated thereunder (the &#147;<U>Exchange Act</U>&#148;) and shall include all persons or entities that at any time during the term of
this Agreement become Affiliates or Associates of any person or entity referred to in this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(l) The Company shall use its
reasonable best efforts to hold the 2015 Annual Meeting no later than June&nbsp;27, 2015. </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>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(m) The Company agrees that prior to the 2015 Annual Meeting, the Board and all applicable
committees of the Board shall not (i)&nbsp;increase the size of the Board to more than thirteen (13)&nbsp;directors or (ii)&nbsp;seek to change the classes on which the Board members serve. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(n) The Company agrees that the responsibilities of the Strategic Committee of the Board as set forth in its charter shall be expanded to
include an evaluation of the Company&#146;s corporate governance and management structure, related party transactions and any other governance practices of the Company deemed appropriate by the Strategic Committee. The Strategic Committee shall
deliver a report with recommendations regarding such matters no later than July&nbsp;30, 2015 and the Company shall announce any actions the Board approves in response to such recommendations simultaneously with its public announcement of the
Company&#146;s financial results as of and for the six months ended June&nbsp;30, 2015. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(o) The Company shall continue the search for a
new executive to lead the Company&#146;s Chemicals business which the Company publicly announced on March&nbsp;16, 2015. Promptly following the date of this Agreement, the Board shall form a special committee to oversee this executive search and
make a recommendation to the full Board with respect thereto, which committee shall consist of Messrs. Sanders (Chair), Greenwell, Mittag and White. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(p) The Company agrees that the persons whom the Board shall nominate as candidates for election to the Board at the Company&#146;s 2016
annual meeting of stockholders (the &#147;<U>2016 Annual Meeting</U>&#148;) shall be approved by a majority of the members of the Board who are &#147;independent&#148; pursuant to NYSE listing standards (the &#147;<U>Independent
Directors</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2. <U>Standstill Provisions</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(a) Starboard agrees that, from the date of this Agreement until the earlier of (i)&nbsp;the date that is fifteen (15)&nbsp;business days
prior to the deadline for the submission of stockholder nominations for the 2016 Annual Meeting pursuant to the Company&#146;s bylaws or (ii)&nbsp;the date that is one hundred thirty-five (135)&nbsp;days prior to the first anniversary of the 2015
Annual Meeting (the &#147;<U>Standstill Period</U>&#148;), neither it nor any of its Affiliates or Associates will, and it will cause each of its Affiliates and Associates not to, directly or indirectly, in any manner: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(i) engage in any solicitation of proxies or consents or become a &#147;participant&#148; in a &#147;solicitation&#148; as such terms are
defined in Regulation 14A under the Exchange Act of proxies or consents (including, without limitation, any solicitation of consents that seeks to call a special meeting of stockholders), in each case, with respect to securities of the Company; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(ii) form, join or in any way participate in any &#147;group&#148; (within the meaning of Section&nbsp;13(d)(3) of the Exchange Act) with
respect to the Common Stock (other than a &#147;group&#148; that includes all or some of the persons identified on <U>Exhibit&nbsp;A</U>, but does not include any other entities or persons not identified on <U>Exhibit A</U> as of the date hereof);
provided, however, that nothing herein shall limit the ability of an Affiliate of Starboard to join the &#147;group&#148; following the execution of this Agreement, so long as any such Affiliate agrees to be bound by the terms and conditions of this
Agreement; </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">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(iii) deposit any Common Stock in any voting trust or subject any Common Stock to any
arrangement or agreement with respect to the voting of any Common Stock, other than any such voting trust, arrangement or agreement solely among the members of Starboard and otherwise in accordance with this Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(iv) seek or encourage any person to submit nominations in furtherance of a &#147;contested solicitation&#148; for the election or removal of
directors with respect to the Company or seek, encourage or take any other action with respect to the election or removal of any directors; provided, however, that nothing in this Agreement shall prevent Starboard or its Affiliates or Associates
from taking actions in furtherance of identifying director candidates in connection with the 2016 Annual Meeting so long as such actions do not create a public disclosure obligation for Starboard and are undertaken on a basis reasonably designed to
be confidential and in accordance in all material respects with Starboard&#146;s normal practices in the circumstances; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(v)
(A)&nbsp;make any proposal for consideration by stockholders at any annual or special meeting of stockholders of the Company, (B)&nbsp;make any offer or proposal (with or without conditions) with respect to a merger, acquisition, recapitalization,
restructuring, disposition or other business combination involving Starboard and the Company, or (C)&nbsp;publicly comment on any third party proposal regarding any merger, acquisition, recapitalization, restructuring, disposition or other business
combination with respect to the Company by such third party prior to such proposal becoming public; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(vi) seek, alone or in concert with
others, representation on the Board, except as specifically contemplated in Section&nbsp;1; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(vii) seek to advise, encourage, support or
influence any person with respect to the voting or disposition of any securities of the Company at any annual or special meeting of stockholders, except in accordance with Section&nbsp;1; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(viii) make any request or submit any proposal to amend the terms of this Agreement other than through non-public communications with the
Company that would not be reasonably determined to trigger public disclosure obligations for any Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Except as expressly provided
in Section&nbsp;1 or Section&nbsp;2(a), each member of Starboard shall be entitled to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) vote its or his shares on any other proposal
duly brought before the 2015 Annual Meeting, or otherwise vote as each member of Starboard determines in its or his sole discretion; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) disclose, publicly or otherwise, how it intends to vote or act with respect to any securities of the Company, any stockholder proposal or
other matter to be voted on by the stockholders of the Company and the reasons therefor; provided that, as applicable, all such activity is in compliance with the requirements of this Agreement. </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">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Company agrees that it shall provide Starboard written notice of the date set for the
2016 Annual Meeting at least fifteen (15)&nbsp;business days prior to the date that is one hundred twenty (120)&nbsp;days prior to the 2016 Annual Meeting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3. <U>Representations and Warranties of the Company</U>. The Company represents and warrants to Starboard that (a)&nbsp;the
Company has the corporate power and authority to execute this Agreement and to bind it thereto, (b)&nbsp;this Agreement has been duly and validly authorized, executed and delivered by the Company, constitutes a valid and binding obligation and
agreement of the Company, and is enforceable against the Company in accordance with its terms, and (c)&nbsp;the execution, delivery and performance of this Agreement by the Company does not and will not violate or conflict with (i)&nbsp;any law,
rule, regulation, order, judgment or decree applicable to the Company, or (ii)&nbsp;result in any breach or violation of or constitute a default (or an event which with notice or lapse of time or both could constitute such a breach, violation or
default) under or pursuant to, or result in the loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document, agreement, contract, commitment, understanding or
arrangement to which the Company is a party or by which it is bound. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4. <U>Representations and Warranties of Starboard</U>.
Starboard represents and warrants to the Company that (a)&nbsp;the authorized signatory of Starboard set forth on the signature page hereto has the power and authority to execute this Agreement and any other documents or agreements to be entered
into in connection with this Agreement and to bind it thereto, (b)&nbsp;this Agreement has been duly authorized, executed and delivered by Starboard, and is a valid and binding obligation of Starboard, enforceable against Starboard in accordance
with its terms, (c)&nbsp;the execution of this Agreement, the consummation of any of the transactions contemplated hereby, and the fulfillment of the terms hereof, in each case in accordance with the terms hereof, will not conflict with, or result
in a breach or violation of the organizational documents of Starboard as currently in effect, (d)&nbsp;the execution, delivery and performance of this Agreement by Starboard does not and will not violate or conflict with (i)&nbsp;any law, rule,
regulation, order, judgment or decree applicable to Starboard, or (ii)&nbsp;result in any breach or violation of or constitute a default (or an event which with notice or lapse of time or both could constitute such a breach, violation or default)
under or pursuant to, or result in the loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document, agreement, contract, commitment, understanding or arrangement to
which such member is a party or by which it is bound, and (e)&nbsp;as of the date of this Agreement, (i)&nbsp;Starboard is deemed to beneficially own in the aggregate 1,725,000 shares of Common Stock and (ii)&nbsp;Starboard does not currently have,
and does not currently have any right to acquire, any interest in any other securities of the Company (or any rights, options or other securities convertible into or exercisable or exchangeable (whether or not convertible, exercisable or
exchangeable immediately or only after the passage of time or the occurrence of a specified event) for such securities or any obligations measured by the price or value of any securities of the Company or any of its Affiliates, including any swaps
or other derivative arrangements designed to produce economic benefits and risks that correspond to the ownership of Common Stock, whether or not any of the foregoing would give rise to beneficial ownership (as determined under Rule 13d-3
promulgated under the Exchange Act), and whether or not to be settled by delivery of Common Stock, payment of cash or by other consideration, and without regard to any short position under any such contract or arrangement). </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">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5. <U>Press Release</U>. Promptly following the execution of this Agreement, the
Company shall issue a mutually agreeable press release (the &#147;<U>Press Release</U>&#148;) announcing certain terms of this Agreement, in the form attached as <U>Exhibit B</U> and including an announcement in a mutually agreeable form regarding
the Company&#146;s intention, to the extent market conditions allow and subject to approval of the Board, to (i)&nbsp;separate the Company&#146;s Chemicals and Climate Control businesses and (ii)&nbsp;explore a master limited partnership structure
for the Company&#146;s Chemicals business, in each case after the El Dorado facility expansion projects have been completed and brought online in 2016. Prior to the issuance of the Press Release, neither the Company nor Starboard shall issue any
press release or public announcement regarding this Agreement without the prior written consent of the other Party. Until the 2015 Annual Meeting, neither the Company nor Starboard nor the New Appointees shall make any public announcement or
statement that is inconsistent with or contrary to the statements made in the Press Release, except as required by law or the rules of any stock exchange or with the prior written consent of the other Party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6. <U>Specific Performance</U>. Each of Starboard, on the one hand, and the Company, on the other hand, acknowledges and agrees
that irreparable injury to the other party hereto would occur in the event any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached and that such injury would not be adequately
compensable by the remedies available at law (including the payment of money damages). It is accordingly agreed that Starboard, on the one hand, and the Company, on the other hand (the &#147;<U>Moving Party</U>&#148;), shall each be entitled to
specific enforcement of, and injunctive relief to prevent any violation of, the terms hereof, and the other party hereto will not take action, directly or indirectly, in opposition to the Moving Party seeking such relief on the grounds that any
other remedy or relief is available at law or in equity. This Section&nbsp;6 is not the exclusive remedy for any violation of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Section&nbsp;7. <U>Expenses</U>. The Company shall reimburse Starboard for its reasonable, documented out-of-pocket fees and expenses
(including legal expenses) incurred in connection with the matters related to the 2015 Annual Meeting and the negotiation and execution of this Agreement, provided that such reimbursement shall not exceed one-hundred fifty thousand dollars
($150,000) in the aggregate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8. <U>Severability</U>. If any term, provision, covenant or restriction of this Agreement is
held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or
invalidated. It is hereby stipulated and declared to be the intention of the Parties that the Parties would have executed the remaining terms, provisions, covenants and restrictions without including any of such which may be hereafter declared
invalid, void or unenforceable. In addition, the Parties agree to use their respective best efforts to agree upon and substitute a valid and enforceable term, provision, covenant or restriction for any of such that is held invalid, void or
enforceable by a court of competent jurisdiction. </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">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9. <U>Notices</U>. Any notices, consents, determinations, waivers or other
communications required or permitted to be given under the terms of this Agreement must be in writing and will be deemed to have been delivered: (i)&nbsp;upon receipt, when delivered personally; (ii)&nbsp;upon receipt, when sent by facsimile
(provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); or (iii)&nbsp;one business day after deposit with a nationally recognized overnight delivery service, in each case properly
addressed to the party to receive the same. The addresses and facsimile numbers for such communications shall be: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">If to the Company: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">LSB Industries, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">16 South
Pennsylvania Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Oklahoma City, Oklahoma 73107 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attention: David M. Shear, Esq. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Telephone: (405)&nbsp;235-4546 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: (405)&nbsp;236-1209 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">with a copy (which shall not constitute notice) to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Conner&nbsp;&amp; Winters, LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">1700 One Leadership Square </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">211
North Robinson </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Oklahoma City, Oklahoma 73102 </P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="74%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attention:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Irwin Steinhorn, Esq.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Mark Bennett, Esq.</TD></TR>
</TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Telephone: (405)&nbsp;272-5750 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: (405)&nbsp;232-2695 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Wachtell, Lipton,
Rosen&nbsp;&amp; Katz </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">51 West 52nd Street </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">New York, New York 10019 </P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="74%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attention:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">David A. Katz, Esq.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Gregory E. Ostling, Esq.</TD></TR>
</TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Telephone: (212)&nbsp;403-1000 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: (212)&nbsp;403-2000 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">If to Starboard or any member thereof: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Starboard Value and Opportunity Master Fund Ltd </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">c/o Starboard Value LP </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">830
Third Avenue, 3rd Floor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">New York, New York 10022 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attention: Jeffrey C. Smith </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Telephone: (212)&nbsp;845-7955 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: (212)&nbsp;845-7988 </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">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">with a copy (which shall not constitute notice) to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Olshan Frome Wolosky LLP </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Park
Avenue Tower </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">65 East 55th Street </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">New York, New York 10022 </P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="74%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attention:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Steve Wolosky, Esq.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Andrew Freedman, Esq.</TD></TR>
</TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Telephone: (212)&nbsp;451-2300 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: (212)&nbsp;451-2222 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Section&nbsp;10. <U>Applicable Law</U>. This Agreement shall be governed by and construed and enforced in accordance with the laws of the
State of Delaware without reference to the conflict of laws principles thereof. Each of the Parties hereto irrevocably agrees that any legal action or proceeding with respect to this Agreement and the rights and obligations arising hereunder, or for
recognition and enforcement of any judgment in respect of this Agreement and the rights and obligations arising hereunder brought by the other party hereto or its successors or assigns, shall be brought and determined exclusively in the Delaware
Court of Chancery and any state appellate court therefrom within the State of Delaware (or, if the Delaware Court of Chancery declines to accept jurisdiction over a particular matter, any state or federal court within the State of Delaware). Each of
the Parties hereto hereby irrevocably submits, with regard to any such action or proceeding for itself and in respect of its property, generally and unconditionally, to the personal jurisdiction of the aforesaid courts and agrees that it will not
bring any action relating to this Agreement in any court other than the aforesaid courts. Each of the Parties hereto hereby irrevocably waives, and agrees not to assert in any action or proceeding with respect to this Agreement, (i)&nbsp;any claim
that it is not personally subject to the jurisdiction of the above-named courts for any reason, (ii)&nbsp;any claim that it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts
(whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (iii)&nbsp;to the fullest extent permitted by applicable legal requirements, any claim that
(A)&nbsp;the suit, action or proceeding in such court is brought in an inconvenient forum, (B)&nbsp;the venue of such suit, action or proceeding is improper or (C)&nbsp;this Agreement, or the subject matter hereof, may not be enforced in or by such
courts. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Section&nbsp;11. <U>Counterparts</U>. This Agreement may be executed in two or more counterparts, each of which shall be
considered one and the same agreement and shall become effective when counterparts have been signed by each of the Parties and delivered to the other Party (including by means of electronic delivery or facsimile). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Section&nbsp;12. <U>Entire Agreement; Amendment and Waiver; Successors and Assigns; Third Party Beneficiaries</U>. This Agreement contains
the entire understanding of the Parties hereto with respect to its subject matter. There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings between the Parties other than those expressly set forth
herein. No modifications of this Agreement can be made except in writing </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">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
signed by an authorized representative of each the Company and Starboard, except that the signature of an authorized representative of the Company will not be required to permit an Affiliate of
Starboard to agree to be listed on <U>Exhibit A</U> and be bound by the terms and conditions of this Agreement. No failure on the part of any party to exercise, and no delay in exercising, any right, power or remedy hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise of such right, power or remedy by such party preclude any other or further exercise thereof or the exercise of any other right, power or remedy. All remedies hereunder are cumulative and are
not exclusive of any other remedies provided by law. The terms and conditions of this Agreement shall be binding upon, inure to the benefit of, and be enforceable by the Parties and their respective successors, heirs, executors, legal
representatives, and permitted assigns. No Party shall assign this Agreement or any rights or obligations hereunder without, with respect to any member of Starboard, the prior written consent of the Company, and with respect to the Company, the
prior written consent of Starboard. This Agreement is solely for the benefit of the Parties and is not enforceable by any other persons. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Section&nbsp;13. <U>Mutual Non-Disparagement</U>. Subject to applicable law, each of the Parties covenants and agrees that, during the
Standstill Period, or if earlier, until such time as the other Party or any of its agents, subsidiaries, affiliates, successors, assigns, officers, key employees or directors shall have breached this Section&nbsp;13, neither it nor any of its
respective agents, subsidiaries, affiliates, successors, assigns, officers, key employees or directors, shall in any way publicly disparage, call into disrepute, or otherwise defame or slander the other Parties or such other Parties&#146;
subsidiaries, affiliates, successors, assigns, officers (including any current officer of a Party or a Parties&#146; subsidiaries who no longer serves in such capacity following the execution of this Agreement), directors (including any current
director of a Party or a Parties&#146; subsidiaries who no longer serves in such capacity following the execution of this Agreement), employees, stockholders, agents, attorneys or representatives, or any of their products or services, in any manner
that would damage the business or reputation of such other Parties, their products or services or their subsidiaries, affiliates, successors, assigns, officers (or former officers), directors (or former directors), employees, stockholders, agents,
attorneys or representatives. For purposes of this Section&nbsp;13, the New Appointees (or, if applicable, the Replacement Director(s)) will not be deemed to be an affiliate of the Company or Starboard and no actions taken by any director, agent or
other representative of a Party in any capacity other than as a representative of, and at the direction of, such Party will be covered by this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[The remainder of this page intentionally left blank] </B></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">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, this Agreement has been duly executed and delivered by the duly authorized
signatories of the Parties as of the date hereof. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="41%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="5">LSB INDUSTRIES, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Barry Golsen</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Barry Golsen</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Chief Executive Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">STARBOARD:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Starboard Value LP, its investment manager</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="6"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">STARBOARD VALUE AND OPPORTUNITY S LLC</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="5">STARBOARD VALUE LP</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Starboard Value LP, its manager</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3">Starboard Value GP LLC, its General Partner</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="6"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">STARBOARD VALUE AND OPPORTUNITY C LP</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="5">STARBOARD VALUE GP LLC</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Starboard Value R LP, its general partner</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3">Starboard Value Principal Co LP, its member</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="6"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">STARBOARD VALUE R LP</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="5">STARBOARD PRINCIPAL CO LP</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Starboard Value R GP LLC, its general partner</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3">Starboard Principal Co GP LLC, its general partner</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="6"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="5">STARBOARD PRINCIPAL CO GP LLC</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="5">STARBOARD VALUE R GP LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeffrey C. Smith</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Jeffrey C. Smith</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Authorized Signatory</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Agreement] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT A </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">STARBOARD </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">STARBOARD VALUE AND
OPPORTUNITY MASTER FUND LTD </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">STARBOARD VALUE AND OPPORTUNITY S LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">STARBOARD VALUE AND OPPORTUNITY C LP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">STARBOARD VALUE R LP </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">STARBOARD
VALUE LP </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">STARBOARD VALUE GP LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">STARBOARD PRINCIPAL CO LP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">STARBOARD PRINCIPAL CO GP LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">STARBOARD VALUE R GP LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">JEFFREY
C. SMITH </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">MARK R. MITCHELL </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">PETER A. FELD </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT B </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">PRESS RELEASE </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[See Attached]
</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LSB INDUSTRIES AND STARBOARD VALUE REACH AGREEMENT REGARDING </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CORPORATE GOVERNANCE AND BOARD COMPOSITION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Company to Add Five New Independent Directors: Louis Massimo, </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Andrew Mittag, Marran Ogilvie, Richard Roedel and Lynn White </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Announces Intention to Separate Chemicals and Climate Control Businesses </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>and to Explore MLP Structure for Chemicals Business Following Completion of El Dorado Facility </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Expansion in 2016, Subject to Market Conditions and Board Approval </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>New Lead Independent Director Appointed and Independent Board Committee </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>to Oversee Search for President of Chemicals Business </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>OKLAHOMA CITY &#150; April&nbsp;27, 2015</B> &#150; LSB Industries, Inc. (NYSE: LXU) (&#147;LSB&#148; or &#147;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 it has elected Louis G. Massimo, Andrew K. Mittag, Richard Roedel, Marran
H. Ogilvie and Lynn F. White to its Board of Directors. These five new independent directors, as well as incumbent directors Richard Sanders and Barry Golsen, will stand for re-election to LSB&#146;s Board of Directors at the Company&#146;s 2015
Annual Meeting of Stockholders. Messrs. Massimo and Mittag will fill the vacancies created by the resignations, effective today, of Gail Lapidus and Robert Henry. <B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If re-elected by LSB&#146;s stockholders at the 2015 Annual Meeting, Ms.&nbsp;Ogilvie and Messrs. Roedel, Sanders, Golsen and White will have terms expiring
at the 2018 Annual Meeting and Messrs. Massimo and Mittag will join the class of directors with terms expiring at the 2017 Annual Meeting. With these appointments, the LSB Board will expand to 13 directors, 11 of whom are independent and 9 of whom
were appointed in the last 24 months. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We are pleased to have reached this agreement with Starboard on the composition of the Board,&#148; said
Barry Golsen, Chief Executive Officer of LSB. &#147;On behalf of the entire Board, I would like to thank Gail Lapidus and Robert Henry for their dedicated service and contributions to the Board and LSB. We look forward to working with the new
independent directors.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Golsen continued, &#147;We remain committed to enhancing stockholder value, and we believe the improvements we are
making to increase capacity and upgrade facilities will position LSB for enhanced growth and profitability. We are therefore pleased to announce our intention, once our El Dorado facility expansion projects have been completed and brought online in
2016, to the extent market conditions allow and subject to Board approval, to separate the Company&#146;s Chemicals business from its Climate Control business and to explore an MLP structure for the Chemicals business.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with today&#146;s announcement, LSB has entered into an agreement with Starboard Value LP (&#147;Starboard&#148;), which beneficially owns
approximately 7.6% of the Company&#146;s outstanding shares. Under the agreement, Starboard has agreed, among other things, not to solicit proxies or participate in any &#147;withhold&#148; campaign in connection with the 2015 Annual Meeting and to
vote its shares in support of all of the Company&#146;s director nominees. Starboard has also agreed to vote all of its shares in accordance with the Board&#146;s recommendation with respect to the Company&#146;s say-on-pay proposal, subject to the
recommendation of Institutional Shareholder Services. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, the responsibilities of the Strategic Committee of the Board, which was formed in June
2014, will be expanded to include an evaluation of Company&#146;s corporate governance and management structure, related party transactions and any other governance practices of the Company deemed appropriate by the
</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Strategic Committee. The Strategic Committee will make recommendations to the Board based on its findings, and the Company intends to announce the Board&#146;s decisions with respect to these
recommendations concurrent with its second quarter 2015 earnings release. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company also agreed to form an independent Board Committee to oversee the
Company&#146;s previously announced executive search for a President of the Chemicals business; this committee will consist of Messrs. Daniel D. Greenwell, Sanders, Mittag and White. As previously announced the company is working with executive
search firm Spencer Stuart to assist in the search. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company also announced that Mr.&nbsp;Greenwell was elected Lead Independent Director. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jeff Smith, CEO of Starboard, stated, &#147;We are pleased that we have been able to continue to work constructively with LSB to reach this agreement, and we
look forward to meaningful value creation. We believe that strengthening the Board with highly experienced and independent directors will support the Company in executing on its plans to drive sales growth and profitability for the benefit of all
shareholders. Louis Massimo, Andrew Mittag, and Lynn White bring substantial experience in the Chemicals and Fertilizer industries, which should help LSB as it continues its progress in turning around and significantly expanding this business. In
addition, Marran Ogilvie and Richard Roedel bring vast corporate governance experience that we believe will be invaluable as the LSB Board reviews its governance practices. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Smith continued, &#147;We believe that a separation of LSB&#146;s two highly valuable businesses will create substantial value for all shareholders,
allowing each business to fully capitalize on the opportunities available and enabling the Chemicals businesses to consider the potential value creation available through an MLP structure following the completion of the El Dorado expansion.&#148;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Credit Suisse is serving as financial advisor to LSB and Wachtell, Lipton, Rosen&nbsp;&amp; Katz and Conner&nbsp;&amp; Winters, LLP are acting as legal
advisors. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Louis S. Massimo </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Louis S. Massimo
is a member of the Board of Directors of Calgon Carbon Corporation (NYSE:CCC), a position he has held since May 2013. Previously, Mr.&nbsp;Massimo served as Executive Vice President and Chief Operating Officer of Arch Chemicals (NYSE: ARJ), where he
was a member of the senior leadership team and played a vital role in the successful execution and integration of all of the Company&#146;s acquisitions since its founding in 1999. Prior to that, Mr.&nbsp;Massimo served as Arch Chemicals&#146;
Executive Vice President and Chief Financial Officer. Prior to joining Arch Chemicals, Mr.&nbsp;Massimo served in various senior roles at Olin Corporation (NYSE: OLN), including Vice President, Controller, and Director of Corporate Accounting. While
at Olin, Mr.&nbsp;Massimo was extensively involved in several major strategic changes, including the spin-off of Olin&#146;s ordnance and aerospace divisions as Primex Technologies, the divestiture of its toluene diisocyanate (TDI) business and the
spin-off of its specialty chemical operations as Arch Chemicals. Mr.&nbsp;Massimo previously served as an audit manager for KPMG Peat Marwick for 15 years. Mr.&nbsp;Massimo earned his Bachelor of Business Administration in accounting from Pace
University and completed Duke University&#146;s Advanced Management Program in 2000. He is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants, the New York and Connecticut Societies of Certified
Public Accountants, and a past member of the Financial Executives Institute CT/Westchester Chapter </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Andrew K. Mittag </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Andrew K. Mittag was a Director and a member of the Management Resources and Compensation Committee and Audit Committee of Interfor Corporation (TSX: IFP), a
publicly traded Canadian lumber producer, from 2012 to 2015. From 2005 to 2014, Mr.&nbsp;Mittag served as Senior Vice President and </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>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
member of the leadership team of Agrium, Inc., a global retail supplier of agricultural products and services and a leading global wholesale producer and marketer of all three major agricultural
nutrients. He led Agrium&#146;s corporate strategy and M&amp;A group from 2005 to 2009 and in 2009 became President, Agrium Advanced Technologies a division of Agrium. From 2007 to 2012, Mr.&nbsp;Mittag served as a Director and a member of the Audit
Committee of Hanfeng Evergreen, Inc., a Chinese fertilizer producer. At the time of Mr.&nbsp;Mittag&#146;s service, Hanfeng Evergreen, Inc. was listed on the Toronto Stock Exchange. From 2009 to 2012 Mr.&nbsp;Mittag served as a director for
Floralla, LLC, a private fertilizer distribution company. From 2009 to 2013, Mr.&nbsp;Mittag was a director of Alida, LLC, a privately held fertilizer distribution company. From 2012 to 2013, Mr.&nbsp;Mittag was a director of Culex Environmental, a
private company focused on mosquito control. Mr.&nbsp;Mittag received a Bachelor of Arts from Hamilton College and was awarded an MBA from Columbia University. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Marran H. Ogilvie </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Marran Ogilvie has 20 years of
executive management experience and a demonstrable track record across a diverse set of business environments, including start-up, rapid growth, turnaround, merging, regulated and international businesses. Mrs.&nbsp;Ogilvie has served as a COO,
General Counsel, Chief of Staff, public company board member, creditors committee member, and top operating executive. Mrs.&nbsp;Ogilvie currently serves on the boards of directors of Seventy Seven Energy Inc. (NYSE: SSE), The Korea Fund, Inc.
(NYSE: KF) and ZAIS Financial Corp. (NYSE: ZFC).&nbsp;Mrs. Ogilvie previously served on the Creditors Committee of Lehman Brothers International and currently serves as an advisor to the committee.&nbsp;Mrs.&nbsp;Ogilvie also previously served on
the board Southwest Bancorp Inc. (NASDAQ: OKSB). Mrs.&nbsp;Ogilvie&#146;s operating roles included Chief Operating Officer of Ramius, LCC, where she executed a merger with Cowen Group, Inc. (NASDAQ: COWN), and served as Chief of Staff of
Cowen.&nbsp;Mrs. Ogilvie received a BA from the University of Oklahoma and a J.D. from St. John&#146;s University School of Law. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Richard W.
Roedel </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Richard W. Roedel is a director of Lorillard, Inc. (NYSE: LO), Chairman of Lorillard&#146;s Audit Committee, a director and member of the Audit
Committee and Chairman of the Risk Committee of IHS, Inc. (NYSE: IHS), a director and member of the Audit Committee of Six Flags Entertainment Corporation (NYSE: SIX), and a director and non-executive chairman of Luna Innovations Incorporated
(NASDAQ: LUNA). From 1985 through 2000, Mr.&nbsp;Roedel was employed by the accounting firm BDO Seidman LLP, the United States member firm of BDO International, as an Audit Partner, being promoted in 1990 to Managing Partner in Chicago, and then to
Managing Partner in New York in 1994, and finally in 1999 to Chairman and Chief Executive. Mr.&nbsp;Roedel joined the Board of Directors of Take-Two Interactive Software, Inc. (NASDAQ: TTWO), a publisher of video games, in November 2002 and served
in various capacities with that company through June 2005 including Chairman and Chief Executive Officer. Mr.&nbsp;Roedel served on the Boards of Directors of Brightpoint, Inc. (NASDAQ: CELL) from 2002 to 2012 and Sealy Corporation (NYSE: ZZ) from
2006 to March 2013. He also served as a director and chairman of the audit committee of Broadview Network Holdings, Inc., a private company, until 2012. Mr.&nbsp;Roedel was appointed to the Public Accounting Oversight Board&#146;s Standing Advisory
Group for a three-year term commencing January&nbsp;1, 2014. He is also a director of the Association of Audit Committee Members, Inc., a non-profit association of audit committee members dedicated to strengthening the audit committee by developing
best practices. Mr.&nbsp;Roedel is a certified public accountant. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Lynn F. White </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Lynn F. White is the founder and Managing Director of Twemlow Group, LLC, a consulting firm established in January 2008. From January 2008 to June 2009 and
January 2013 to present, as Twemlow Group&#146;s Managing Director, Mr.&nbsp;White has provided strategic, organizational, and product development counsel to agriculture-related businesses. Mr.&nbsp;White also currently serves as Vice Chair of the
Dean&#146;s </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>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Advisory Council of the College of Agriculture, Food and Environmental Sciences at California Polytechnic State University, San Luis Obispo. From June 2009 through December 2012, Mr.&nbsp;White
served as Vice President, Corporate Development of CF Industries Holdings, Inc. (NYSE: CF), one of the world&#146;s largest manufacturers and distributors of nitrogen and phosphate fertilizer products. At CF Industries, Mr.&nbsp;White was
responsible for external growth initiatives, including mergers and acquisitions and organic efforts; new product development; leading the integration of the $4.6 billion acquisition of Terra, Inc., and as a member of the senior leadership team,
corporate strategy. He also served as Non-executive Chairman of GrowHow UK Limited, the leading British nitrogen fertilizer producer, and as a director of KEYTRADE AG, a major Switzerland-based fertilizer trading firm. From 2005 to 2007,
Mr.&nbsp;White was the President, John Deere Agri Services of Deere&nbsp;&amp; Co., a global supplier of equipment and services to agriculture, construction, forestry, and landscape markets. From 2000 to 2005, Mr.&nbsp;White served as the Vice
President, Global AgServices of Deere&nbsp;&amp; Co. From 1997 to 1999, Mr.&nbsp;White was Senior Vice President, Corporate Development of IMC Global, Inc. (n/k/a Mosaic, Inc.), and from 1979 to 1996, Mr.&nbsp;White served in a variety of leadership
positions in the US and Europe at FMC Corporation, a producer of chemicals and machinery. Mr.&nbsp;White holds a BA in History with Highest Honors from California Polytechnic State University, San Luis Obispo and an MBA in Finance and Multinational
Enterprise from the Wharton Graduate School of Business at the University of Pennsylvania. </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 geothermal and water source heat pumps, hydronic fan coils and modular geothermal chillers, and large custom
air handlers. </P> <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; font-size:10pt; font-family:Times New Roman">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;, &#147;should&#148; or similar expressions, including, without limitation, statements regarding enhancing stockholder value, enhanced
growth and profitability, expanding the Chemicals business, El Dorado expansion projects completed and brought online in 2016, and matters relating to the 2015 Annual Meeting. 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 Form 10-K for year
ended December&nbsp;31, 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 statements
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. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Company Contact: </B></P> <P STYLE="margin-top:6pt; 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">(405) 235-4546 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Or </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mark Behrman, Senior Vice President </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(405) 235-4546 x11214 </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">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Media Contact: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tim Lynch / Sharon Stern / Joe Berg </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Joele Frank, Wilkinson
Brimmer Katcher </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(212) 355-4449 </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">5 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>4
<FILENAME>d918969dex992.htm
<DESCRIPTION>EX-99.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LSB INDUSTRIES AND STARBOARD VALUE REACH AGREEMENT REGARDING </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CORPORATE GOVERNANCE AND BOARD COMPOSITION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Company to Add Five New Independent Directors: Louis Massimo, </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Andrew Mittag, Marran Ogilvie, Richard Roedel and Lynn White </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Announces Intention to Separate Chemicals and Climate Control Businesses </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>and to Explore MLP Structure for Chemicals Business Following Completion of El Dorado Facility </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Expansion in 2016, Subject to Market Conditions and Board Approval </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>New Lead Independent Director Appointed and Independent Board Committee </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>to Oversee Search for President of Chemicals Business </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>OKLAHOMA CITY &#150; April&nbsp;27, 2015</B> &#150; LSB Industries, Inc. (NYSE: LXU) (&#147;LSB&#148; or &#147;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 it has elected Louis G. Massimo, Andrew K. Mittag, Richard Roedel, Marran
H. Ogilvie and Lynn F. White to its Board of Directors. These five new independent directors, as well as incumbent directors Richard Sanders and Barry Golsen, will stand for re-election to LSB&#146;s Board of Directors at the Company&#146;s 2015
Annual Meeting of Stockholders. Messrs. Massimo and Mittag will fill the vacancies created by the resignations, effective today, of Gail Lapidus and Robert Henry. <B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If re-elected by LSB&#146;s stockholders at the 2015 Annual Meeting, Ms.&nbsp;Ogilvie and Messrs. Roedel, Sanders, Golsen and White will have terms expiring
at the 2018 Annual Meeting and Messrs. Massimo and Mittag will join the class of directors with terms expiring at the 2017 Annual Meeting. With these appointments, the LSB Board will expand to 13 directors, 11 of whom are independent and 9 of whom
were appointed in the last 24 months. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We are pleased to have reached this agreement with Starboard on the composition of the Board,&#148; said
Barry Golsen, Chief Executive Officer of LSB. &#147;On behalf of the entire Board, I would like to thank Gail Lapidus and Robert Henry for their dedicated service and contributions to the Board and LSB. We look forward to working with the new
independent directors.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Golsen continued, &#147;We remain committed to enhancing stockholder value, and we believe the improvements we are
making to increase capacity and upgrade facilities will position LSB for enhanced growth and profitability. We are therefore pleased to announce our intention, once our El Dorado facility expansion projects have been completed and brought online in
2016, to the extent market conditions allow and subject to Board approval, to separate the Company&#146;s Chemicals business from its Climate Control business and to explore an MLP structure for the Chemicals business.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with today&#146;s announcement, LSB has entered into an agreement with Starboard Value LP (&#147;Starboard&#148;), which beneficially owns
approximately 7.6% of the Company&#146;s outstanding shares. Under the agreement, Starboard has agreed, among other things, not to solicit proxies or participate in any &#147;withhold&#148; campaign in connection with the 2015 Annual Meeting and to
vote its shares in support of all of the Company&#146;s director nominees. Starboard has also agreed to vote all of its shares in accordance with the Board&#146;s recommendation with respect to the Company&#146;s say-on-pay proposal, subject to the
recommendation of Institutional Shareholder Services. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, the responsibilities of the Strategic Committee of the Board, which was formed in June
2014, will be expanded to include an evaluation of Company&#146;s corporate governance and management structure, related party transactions and any other governance practices of the Company deemed appropriate by the
</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Strategic Committee. The Strategic Committee will make recommendations to the Board based on its findings, and the Company intends to announce the Board&#146;s decisions with respect to these
recommendations concurrent with its second quarter 2015 earnings release. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company also agreed to form an independent Board Committee to oversee the
Company&#146;s previously announced executive search for a President of the Chemicals business; this committee will consist of Messrs. Daniel D. Greenwell, Sanders, Mittag and White. As previously announced the company is working with executive
search firm Spencer Stuart to assist in the search. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company also announced that Mr.&nbsp;Greenwell was elected Lead Independent Director. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jeff Smith, CEO of Starboard, stated, &#147;We are pleased that we have been able to continue to work constructively with LSB to reach this agreement, and we
look forward to meaningful value creation. We believe that strengthening the Board with highly experienced and independent directors will support the Company in executing on its plans to drive sales growth and profitability for the benefit of all
shareholders. Louis Massimo, Andrew Mittag, and Lynn White bring substantial experience in the Chemicals and Fertilizer industries, which should help LSB as it continues its progress in turning around and significantly expanding this business. In
addition, Marran Ogilvie and Richard Roedel bring vast corporate governance experience that we believe will be invaluable as the LSB Board reviews its governance practices. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Smith continued, &#147;We believe that a separation of LSB&#146;s two highly valuable businesses will create substantial value for all shareholders,
allowing each business to fully capitalize on the opportunities available and enabling the Chemicals businesses to consider the potential value creation available through an MLP structure following the completion of the El Dorado expansion.&#148;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Credit Suisse is serving as financial advisor to LSB and Wachtell, Lipton, Rosen&nbsp;&amp; Katz and Conner&nbsp;&amp; Winters, LLP are acting as legal
advisors. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Louis S. Massimo </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Louis S. Massimo
is a member of the Board of Directors of Calgon Carbon Corporation (NYSE:CCC), a position he has held since May 2013. Previously, Mr.&nbsp;Massimo served as Executive Vice President and Chief Operating Officer of Arch Chemicals (NYSE: ARJ), where he
was a member of the senior leadership team and played a vital role in the successful execution and integration of all of the Company&#146;s acquisitions since its founding in 1999. Prior to that, Mr.&nbsp;Massimo served as Arch Chemicals&#146;
Executive Vice President and Chief Financial Officer. Prior to joining Arch Chemicals, Mr.&nbsp;Massimo served in various senior roles at Olin Corporation (NYSE: OLN), including Vice President, Controller, and Director of Corporate Accounting. While
at Olin, Mr.&nbsp;Massimo was extensively involved in several major strategic changes, including the spin-off of Olin&#146;s ordnance and aerospace divisions as Primex Technologies, the divestiture of its toluene diisocyanate (TDI) business and the
spin-off of its specialty chemical operations as Arch Chemicals. Mr.&nbsp;Massimo previously served as an audit manager for KPMG Peat Marwick for 15 years. Mr.&nbsp;Massimo earned his Bachelor of Business Administration in accounting from Pace
University and completed Duke University&#146;s Advanced Management Program in 2000. He is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants, the New York and Connecticut Societies of Certified
Public Accountants, and a past member of the Financial Executives Institute CT/Westchester Chapter </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Andrew K. Mittag </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Andrew K. Mittag was a Director and a member of the Management Resources and Compensation Committee and Audit Committee of Interfor Corporation (TSX: IFP), a
publicly traded Canadian lumber producer, from 2012 to 2015. From 2005 to 2014, Mr.&nbsp;Mittag served as Senior Vice President and </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>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
member of the leadership team of Agrium, Inc., a global retail supplier of agricultural products and services and a leading global wholesale producer and marketer of all three major agricultural
nutrients. He led Agrium&#146;s corporate strategy and M&amp;A group from 2005 to 2009 and in 2009 became President, Agrium Advanced Technologies a division of Agrium. From 2007 to 2012, Mr.&nbsp;Mittag served as a Director and a member of the Audit
Committee of Hanfeng Evergreen, Inc., a Chinese fertilizer producer. At the time of Mr.&nbsp;Mittag&#146;s service, Hanfeng Evergreen, Inc. was listed on the Toronto Stock Exchange. From 2009 to 2012 Mr.&nbsp;Mittag served as a director for
Floralla, LLC, a private fertilizer distribution company. From 2009 to 2013, Mr.&nbsp;Mittag was a director of Alida, LLC, a privately held fertilizer distribution company. From 2012 to 2013, Mr.&nbsp;Mittag was a director of Culex Environmental, a
private company focused on mosquito control. Mr.&nbsp;Mittag received a Bachelor of Arts from Hamilton College and was awarded an MBA from Columbia University. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Marran H. Ogilvie </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Marran Ogilvie has 20 years of
executive management experience and a demonstrable track record across a diverse set of business environments, including start-up, rapid growth, turnaround, merging, regulated and international businesses. Mrs.&nbsp;Ogilvie has served as a COO,
General Counsel, Chief of Staff, public company board member, creditors committee member, and top operating executive. Mrs.&nbsp;Ogilvie currently serves on the boards of directors of Seventy Seven Energy Inc. (NYSE: SSE), The Korea Fund, Inc.
(NYSE: KF) and ZAIS Financial Corp. (NYSE: ZFC).&nbsp;Mrs. Ogilvie previously served on the Creditors Committee of Lehman Brothers International and currently serves as an advisor to the committee.&nbsp;Mrs.&nbsp;Ogilvie also previously served on
the board Southwest Bancorp Inc. (NASDAQ: OKSB). Mrs.&nbsp;Ogilvie&#146;s operating roles included Chief Operating Officer of Ramius, LCC, where she executed a merger with Cowen Group, Inc. (NASDAQ: COWN), and served as Chief of Staff of
Cowen.&nbsp;Mrs. Ogilvie received a BA from the University of Oklahoma and a J.D. from St. John&#146;s University School of Law. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Richard W.
Roedel </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Richard W. Roedel is a director of Lorillard, Inc. (NYSE: LO), Chairman of Lorillard&#146;s Audit Committee, a director and member of the Audit
Committee and Chairman of the Risk Committee of IHS, Inc. (NYSE: IHS), a director and member of the Audit Committee of Six Flags Entertainment Corporation (NYSE: SIX), and a director and non-executive chairman of Luna Innovations Incorporated
(NASDAQ: LUNA). From 1985 through 2000, Mr.&nbsp;Roedel was employed by the accounting firm BDO Seidman LLP, the United States member firm of BDO International, as an Audit Partner, being promoted in 1990 to Managing Partner in Chicago, and then to
Managing Partner in New York in 1994, and finally in 1999 to Chairman and Chief Executive. Mr.&nbsp;Roedel joined the Board of Directors of Take-Two Interactive Software, Inc. (NASDAQ: TTWO), a publisher of video games, in November 2002 and served
in various capacities with that company through June 2005 including Chairman and Chief Executive Officer. Mr.&nbsp;Roedel served on the Boards of Directors of Brightpoint, Inc. (NASDAQ: CELL) from 2002 to 2012 and Sealy Corporation (NYSE: ZZ) from
2006 to March 2013. He also served as a director and chairman of the audit committee of Broadview Network Holdings, Inc., a private company, until 2012. Mr.&nbsp;Roedel was appointed to the Public Accounting Oversight Board&#146;s Standing Advisory
Group for a three-year term commencing January&nbsp;1, 2014. He is also a director of the Association of Audit Committee Members, Inc., a non-profit association of audit committee members dedicated to strengthening the audit committee by developing
best practices. Mr.&nbsp;Roedel is a certified public accountant. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Lynn F. White </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Lynn F. White is the founder and Managing Director of Twemlow Group, LLC, a consulting firm established in January 2008. From January 2008 to June 2009 and
January 2013 to present, as Twemlow Group&#146;s Managing Director, Mr.&nbsp;White has provided strategic, organizational, and product development counsel to agriculture-related businesses. Mr.&nbsp;White also currently serves as Vice Chair of the
Dean&#146;s </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>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Advisory Council of the College of Agriculture, Food and Environmental Sciences at California Polytechnic State University, San Luis Obispo. From June 2009 through December 2012, Mr.&nbsp;White
served as Vice President, Corporate Development of CF Industries Holdings, Inc. (NYSE: CF), one of the world&#146;s largest manufacturers and distributors of nitrogen and phosphate fertilizer products. At CF Industries, Mr.&nbsp;White was
responsible for external growth initiatives, including mergers and acquisitions and organic efforts; new product development; leading the integration of the $4.6 billion acquisition of Terra, Inc., and as a member of the senior leadership team,
corporate strategy. He also served as Non-executive Chairman of GrowHow UK Limited, the leading British nitrogen fertilizer producer, and as a director of KEYTRADE AG, a major Switzerland-based fertilizer trading firm. From 2005 to 2007,
Mr.&nbsp;White was the President, John Deere Agri Services of Deere&nbsp;&amp; Co., a global supplier of equipment and services to agriculture, construction, forestry, and landscape markets. From 2000 to 2005, Mr.&nbsp;White served as the Vice
President, Global AgServices of Deere&nbsp;&amp; Co. From 1997 to 1999, Mr.&nbsp;White was Senior Vice President, Corporate Development of IMC Global, Inc. (n/k/a Mosaic, Inc.), and from 1979 to 1996, Mr.&nbsp;White served in a variety of leadership
positions in the US and Europe at FMC Corporation, a producer of chemicals and machinery. Mr.&nbsp;White holds a BA in History with Highest Honors from California Polytechnic State University, San Luis Obispo and an MBA in Finance and Multinational
Enterprise from the Wharton Graduate School of Business at the University of Pennsylvania. </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 geothermal and water source heat pumps, hydronic fan coils and modular geothermal chillers, and large custom
air handlers. </P> <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; font-size:10pt; font-family:Times New Roman">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;, &#147;should&#148; or similar expressions, including, without limitation, statements regarding enhancing stockholder value, enhanced
growth and profitability, expanding the Chemicals business, El Dorado expansion projects completed and brought online in 2016, and matters relating to the 2015 Annual Meeting. 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 Form 10-K for year
ended December&nbsp;31, 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 statements
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. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Company Contact: </B></P> <P STYLE="margin-top:6pt; 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">(405) 235-4546 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Or </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mark Behrman, Senior Vice President </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(405) 235-4546 x11214 </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">-4- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <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:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fred Buonocore (212)&nbsp;836-9607 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Linda Latman
(212)&nbsp;836-9609 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Equity Group Inc. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Media
Contact: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tim Lynch / Sharon Stern / Joe Berg </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Joele
Frank, Wilkinson Brimmer Katcher </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(212) 355-4449 </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">-5- </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>5
<FILENAME>d918969dex993.htm
<DESCRIPTION>EX-99.3
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.3</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EMPLOYMENT AGREEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Barry H. Golsen) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS
EMPLOYMENT AGREEMENT (&#147;<B><I>Agreement</I></B>&#148;) is effective the 27<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> day of April 2015 (the &#147;<B><I>Effective Date</I></B>&#148;), by and between LSB INDUSTRIES, INC., a Delaware
corporation (the &#147;<B><I>Company</I></B>&#148;), and BARRY H. GOLSEN (the&nbsp;&#147;<B><I>Executive</I></B>&#148;). In consideration of the mutual promises made in this Agreement, the Company and the Executive agree as follows. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WITNESSETH </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>WHEREAS, the Executive has been employed as President and Chief Operating Officer of the Company since 2004, and was appointed
as the Chief Executive Officer (&#147;<B><I>CEO</I></B>&#148;), in addition to his then current position as President, of the Company effective January&nbsp;1, 2015;<B><I> </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, as a result of the Executive&#146;s promotion, the Company and the Executive desire to modify the terms of the Executives
compensation and employment, pursuant to the terms as provided herein; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I></I></B>WHEREAS, the Company and the Executive entered
into a certain Severance Agreement, dated March&nbsp;3, 2014 (the &#147;<B><I>Severance Agreement</I></B>&#148;), and the Company and the Executive desire to terminate the Severance Agreement as of the Effective Date due to applicable severance
provisions being included in this Agreement;<B><I> </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual covenants and agreements
hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Executive hereby agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <U><B>Employment; Term</B></U>. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.1</TD>
<TD ALIGN="left" VALIGN="top"><U>Employment</U>. The Company shall continue to employ Executive, and Executive accepts continued employment with the Company, as the Company&#146;s CEO and President of the Company upon the terms and conditions set
forth in this Agreement. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Term</U><U><B>.</B></U> Unless earlier terminated as provided in this Agreement, the initial term of this Agreement shall begin on the Effective Date and end on the third anniversary of the Effective Date (the
&#147;<B><I>Initial Term</I></B>&#148;). At the end of the Initial Term this Agreement will automatically be extended for one (1)&nbsp;additional year unless at least six (6)&nbsp;months prior to the expiration of the Initial Term, the Company or
the Executive shall have given written notice to the other not to extend the term of this Agreement. The Initial Term, as may be extended, is hereinafter referred to as the &#147;<B><I>Employment Period</I></B>.&#148; </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. <B><U>Capacities, Duties and Authority</U>.</B> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.1</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Capacities</U>. During the Employment Period, the Executive shall serve as, and the Company shall employ the Executive as, the CEO and President of
the Company, in such capacities, with such duties and authority, for such period, at such level of </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">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
compensation and with such benefits and upon such other terms and subject to such other conditions, as are set forth in this Agreement. Throughout the Employment Period, the Executive shall
report to the Board of Directors of the Company (the &#147;<B><I>Board</I></B>&#148;). </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Duties and Authority</U>. In his capacity as CEO of the Company, the Executive shall participate as head of the Company&#146;s senior leadership team and shall have the authorities, duties and responsibilities as he
currently exercises as CEO and President and such other authorities and duties as are customarily performed by persons acting in such capacity for similarly situated public companies. The Executive shall render his services diligently and faithfully
and devote the Executive&#146;s reasonable efforts and full professional time and attention to the business and affairs of the Company. The Executive shall use reasonable efforts to follow and be bound by the terms of the Company&#146;s Code of
Ethics for CEO and Senior Financial Officers, as may be amended by the Board from time to time, and any other policies applicable to senior management personnel as the Company from time to time may adopt; provided in any such case the Executive has
acknowledged receipt of a copy of any such amended Code or other policy. Notwithstanding the foregoing, the Executive may serve on up to two (2)&nbsp;other boards of directors of publicly-held companies that do not compete with the Company or any
subsidiary of the Company, without the approval of the Board, but which the Executive discloses to the Company, or engage in, or participate on the board of directors of, religious or charitable organizations or participate in other community
activities as long as such services and activities are disclosed to the Board and do not materially interfere with the Executive&#146;s performance of his duties to the Company as provided in this Agreement. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.3</TD>
<TD ALIGN="left" VALIGN="top"><U>Location</U>. The principal place(s) of employment of the Executive shall be the Company&#146;s executive offices in Oklahoma City, Oklahoma, subject to reasonable travel requirements, consistent with the nature of
the Executive&#146;s duties from time to time, for the business of the Company or the Company&#146;s subsidiaries. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3.
<B><U>Compensation</U>.</B> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.1</TD>
<TD ALIGN="left" VALIGN="top"><U>Base Salary</U>. Commencing on the Effective Date, the Executive shall be paid a base salary during the Employment Period at the annual rate of $800,000, payable in accordance with the regular payroll practices of
the Company in effect from time to time. The Board or its Compensation and Stock Option Committee (the &#147;<B><I>Compensation Committee</I></B>&#148;) shall annually review the Executive&#146;s performance and determine, in its sole discretion,
whether or not to increase the Executive&#146;s base salary and, if so, the amount of such increase. The Executive&#146;s base salary shall not be decreased without the written consent of the Executive. The Executive&#146;s base salary, as increased
from time to time, is hereinafter referred to as the &#147;<B><I>Base Salary.</I></B>&#148; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.2</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Annual Bonus.</U> The Executive will be eligible for, and considered by the Compensation Committee for, an annual bonus each calendar year, based
upon </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">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
his performance and the financial performance of the Company for such year and such other Company performance guidelines as may be established by the Compensation Committee or the Board in
connection with the payment of bonuses by the Company to its senior executive officers; provided, however, that the amount of the Annual Bonus to be awarded to the Executive for each calendar year during the Employment Period as determined by the
Compensation Committee or the Board shall be targeted at not less than 100% of the Executive&#146;s Base Salary for the calendar for which the Annual Bonus is related and shall not exceed 200% of the Executive&#146;s Base Salary for the calendar
year for which the Annual Bonus is related (an &#147;<B><I>Annual Bonus</I></B>&#148;). Each such Annual Bonus awarded to the Executive by the Compensation Committee shall be paid no later than March&nbsp;15 of the following year to which the bonus
relates, provided that such times are not prohibited under Section&nbsp;409A of the Internal Revenue Code of 1986, as amended (the &#147;<B><I>Code</I></B>&#148;) and the regulations and guidance promulgated thereunder (&#147;<B><I>Section
409A</I></B>&#148;). </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <B><U>Equity Awards</U></B><B>.</B> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.1</TD>
<TD ALIGN="left" VALIGN="top"><U>Equity Plans and Other Programs</U>. The Executive shall be entitled to participate in the Company&#146;s 2008 Stock Incentive Plan (as may be amended from time to time) and such other equity plans or programs
adopted by the Company (collectively, the &#147;<B><I>Plans</I></B>&#148;) and will receive allotments (grants) under such Plans commensurate with his level of responsibility in relation to other grants thereunder as determined in the sole
discretion of the Board, the Compensation Committee or other committee of the Board designated by the Board for such purpose. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Acceleration</U>. Notwithstanding anything to the contrary contained in the vesting and exercisability schedule in any stock option or other grant agreement between the Company and the Executive, in the event of
(a)&nbsp;the Executive&#146;s employment with the Company is terminated with 24 months following a Change in Control (defined below in <U>Section&nbsp;8.4(f)</U>) as provided in <U>Section&nbsp;8.4(e)</U> or (b)&nbsp;the termination of
Executive&#146;s employment hereunder pursuant to any of <U>Sections 8.1(a)</U>, <U>(b)</U>&nbsp;and <U>(c)</U>&nbsp;below, all of the Executive&#146;s then outstanding stock options and other equity awards, if any, granted by the Company to the
Executive shall, to the extent not already vested, vest in their entirety and, as applicable, become immediately and automatically exercisable commencing on the earlier to occur of (i)&nbsp;the date of such termination of employment after the
Company incurs such Change in Control and (ii)&nbsp;with respect to clause (b)&nbsp;above, the applicable Date of Termination (as defined in <U>Section&nbsp;8.3</U> below) and in the manner (and to the extent) expressly set forth in
<U>Section&nbsp;8.4</U> below with respect to such termination. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. <B><U>Fringe Benefits</U>.</B> During the Employment Period, the
Executive shall be entitled to participate in and have the benefit of all group life, disability, dental, hospital, surgical and major medical insurance plans and programs and other employee benefit plans and programs as generally are made available
to executive personnel of the Company, including any 401(k) or other profit sharing plan, subject to the terms of such plans, as such plans may be adopted, </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>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
amended, and terminated from time to time. The Executive shall also be added or continued, as the case may be, as an insured under the Company&#146;s officers and directors insurance policy and
all other policies which pertain to executive officers of the Company. The Executive shall, at the Executive&#146;s option, receive the use of a Company car or a car allowance of $650 per month, as such amount may be increased from time to time,
during the Employment Period, in the sole discretion of the Compensation Committee or the Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6. <B><U>Reimbursement of Expenses</U>.</B> The Company
shall pay to the Executive the reasonable expenses incurred by him in the performance of his duties in connection with business related travel or entertainment in accordance with the Company&#146;s policies, as may be amended from time to time, or,
if such expenses are paid directly by the Executive, the Company shall promptly reimburse the Executive, subject to presentation of adequate substantiation, including receipts, for the reasonable travel, entertainment, lodging and other business
expenses incurred by the Executive in accordance with the Company&#146;s expense reimbursement policy in effect at the time such expenses are incurred. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7. <B><U>Vacation</U></B><B>.</B> The Executive shall be entitled to four (4)&nbsp;weeks of paid vacation per year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8. <B><U>Termination of Employment</U></B><B>.</B> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.1</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination</U>. Subject to the terms of this Agreement, the Executive&#146;s employment hereunder shall terminate under the following circumstances: </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"><U>Death</U>. The Executive&#146;s employment under this Agreement shall terminate upon his death; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"><U>Disability</U>. If the Executive suffers a Disability (defined below in this <U>Section&nbsp;8.1</U>(b)), the Company may terminate the Executive&#146;s employment under this Agreement upon written Notice of
Termination (defined in <U>Section&nbsp;8.2</U> hereof) with respect to such Disability to the Executive at least 30 days prior to the effective Date of Termination (defined in <U>Section&nbsp;8.3</U> hereof) for such termination. For purposes of
this Agreement, &#147;<B><I>Disability</I></B>&#148; shall mean the Executive&#146;s inability to perform his duties and responsibilities hereunder because of physical or mental illness or incapacity, which condition has continued for a period of
more than 180 consecutive days, as determined by the Board in good faith and supported by competent medical evidence. Notwithstanding the foregoing, if the Executive has recovered from a Disability and returned to full-time service prior to the Date
of Termination set forth in the Notice of Termination relating thereto, the Company may not thereafter terminate the Executive&#146;s employment under this Agreement in respect of such Disability. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Good Reason</U>. The Executive may terminate his employment under this Agreement for Good Reason (defined below in this <U>Section&nbsp;8.1(c)</U>)
at any time on or prior to the 60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> day after the occurrence of any of the Good Reason events set forth in the following sentence; provided, however, that, within 30 days after the occurrence of
any such event, the Executive </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>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
shall have provided the Company with a Notice of Termination with respect to such event and afforded the Company a period of 30 days after its receipt of such Notice of Termination to cure the
default that constitutes the Good Reason event relied upon by the Executive for such termination. For purposes of this Agreement, &#147;<B><I>Good Reason</I></B>&#148; shall mean the occurrence, during the Employment Period, of any of the following
events without the Executive&#146;s prior written consent: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">the failure by the Company to timely comply with its material obligations and agreements contained in this Agreement; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">the removal of the Executive from the position of, or the loss by the Executive of the title of, CEO of the Company; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">a material diminution of the authorities, duties or responsibilities of the Executive set forth in <U>Section&nbsp;2</U> of this Agreement; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top">the relocation of the Executive to an office outside of the Oklahoma City, Oklahoma metropolitan area; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top">the Executive being required to report to someone other than the Board. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">The parties agree
that a termination for Good Reason shall be treated as an involuntary separation under Section&nbsp;409A. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"><U>Without Good Reason.</U> The Executive may voluntarily terminate his employment under this Agreement without Good Reason upon written Notice of Termination to the Company at least 30 days prior to the effective Date
of Termination (which termination the Company may, in its sole discretion, make effective earlier than the date set forth in the Executive&#146;s Notice of Termination). </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"><U>Cause.</U> Subject to the terms of this Agreement, the Company may terminate the Executive&#146;s employment under this Agreement for Cause (defined below in this <U>Section&nbsp;8.1(e)</U>) at any time after the
occurrence of any of the events set forth in the following sentence; provided, however, that the Company shall have provided the Executive with a Notice of Termination with respect to such event. For purposes of this Agreement,
&#147;<B><I>Cause</I></B>&#148; shall mean the occurrence, during the Employment Period, of any of the following events: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt">a material and willful violation by the Executive of the then most recent Code of Business Conduct of the Company acknowledged and signed by the
Executive or the Confidentiality and Assignment Agreement by the Board with the consent of the Executive then in effect between the Company and the Executive (the &#147;<B><I>Confidentiality and Assignment Agreement</I></B>&#148;), which violation
is </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">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
not cured by the Executive within 60 days after receipt by the Executive of written notice from the Company to cure and such violation results in material damage to the Company on a consolidated
basis; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">the ultimate conviction (after all appeals have been decided) of the Executive of a felony involving moral turpitude by a federal or state court of competent jurisdiction; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">if the Executive&#146;s serious willful misconduct or willful gross neglect of duties has resulted in a material damage to the Company and its subsidiaries taken as a whole; provided that (A)&nbsp;no action or failure
to act by Executive will constitute a reason for termination if the Executive believed in good faith that such action or failure to act was in the Company&#146;s or its subsidiaries&#146; best interest and (B)&nbsp;failure of the Executive to
perform his duties hereunder due to a disability shall not be considered willful gross misconduct or willful gross neglect of duties for any purpose. </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">For purposes of this <U>Section&nbsp;8.1</U>, no act, or failure to act, on the part of the Executive shall be considered &#147;willful,&#148;
unless done, or omitted to be done, by him in bad faith and without reasonable belief that his action or omission was in, or not opposed to, the best interests of the Company. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top"><U>Without Cause.</U> Subject to the terms of this Agreement, the Company may terminate the Executive&#146;s employment under this Agreement without Cause upon 30 days prior written Notice of Termination with respect
thereto by the Company to the Executive. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Notice of Termination</U>. Any termination of the Executive&#146;s employment by the Company or by the Executive (other than termination by reason of the Executive&#146;s death) shall be communicated by written
Notice of Termination to the other party to this Agreement. For purposes of this Agreement, a &#147;<B><I>Notice of Termination</I></B>&#148; shall mean a written notice which shall set forth the applicable Date of Termination (defined in
<U>Section&nbsp;8.3</U>, below), indicate the specific termination provision in this Agreement relied upon and set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive&#146;s employment
under the provision so indicated. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.3</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Date of Termination</U>. The &#147;<B><I>Date of Termination</I></B>&#148; shall mean (a)&nbsp;if the Executive&#146;s employment is terminated by
his death, the date of his death, (b)&nbsp;if the Executive&#146;s employment is terminated pursuant to <U>Section&nbsp;8.1(b)</U> above, 30 days after Notice of Termination is given, (c)&nbsp;if the Executive&#146;s employment is terminated
pursuant to <U>Sections 8.1(c)</U> or <U>8.1(e)</U> above, the date specified in the Notice of Termination after the expiration of any applicable cure periods, (d)&nbsp;if the Executive&#146;s employment is terminated pursuant to
<U>Section&nbsp;8.1(d)</U> above, the date specified in the Notice of Termination which shall be at least 45 days after </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">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
Notice of Termination is given, or such earlier date as the Company shall determine, in its sole discretion, and (e)&nbsp;if the Executive&#146;s employment is terminated pursuant to
<U>Section&nbsp;8.1(f)</U> above, the date specified in the Notice of Termination, which shall be at least 30 days after the Notice of Termination is given. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.4</TD>
<TD ALIGN="left" VALIGN="top"><U>Obligations of the Company Upon Termination</U>. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination upon Death</U>. In the event of the Executive&#146;s death during the Employment Period, the Company shall pay or provide to the Executive&#146;s estate in a lump sum cash payment within 10 days following
the Date of Termination (except as otherwise provided in this <U>Section&nbsp;8.4(a)</U>): </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">any earned but unpaid Base Salary through the Date of Termination; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">reimbursement for any unreimbursed expenses properly incurred and paid in accordance with <U>Section&nbsp;6</U>, above, through the Date of Termination; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">payment for any accrued but unused vacation time in accordance with Company policy; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top">such vested accrued benefits and other payments, if any, as to which the Executive (and his eligible dependents) may be entitled under, and in accordance with the terms and conditions of, the employee benefit
arrangements, plans and programs of the Company as of the Date of Termination, other than any severance pay plan ((i) through (iv)&nbsp;of this <U>Section&nbsp;8.4(a)</U>, the &#147;<B><I>Amounts and Benefits</I></B>&#148;); </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top">any bonuses earned by the Executive but remaining unpaid for any year prior to the year in which the Date of Termination occurs (the &#147;<B><I>Prior Year Bonuses</I></B>&#148;); </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(vi)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt">a &#147;<B><I>Pro-Rata Bonus</I></B>&#148;, which for purposes of this Agreement means (A)&nbsp;in the event the Company has established one or more
executive bonus programs with performance goals covering the year in which the Date of Termination occurs, a pro-rata portion of the aggregate bonuses payable under such bonus programs for the year in which the Date of Termination occurs (determined
by multiplying the amount of the Executive&#146;s bonus which would be due for the full year by a fraction, the numerator of which is the number of days that the Executive was employed by the Company in the year in which the Date of Termination
occurs and the denominator of which is 365), provided that the performance goals established with respect to the entire such year are met, and provided, further, that in the event the Date of Termination occurs
</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">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
prior to the determination of performance goals applicable to the performance period for the year of the Executive&#146;s termination of employment, the performance criteria applicable to the
Executive in respect of the Pro-Rata Bonus shall be at least as favorable to the Executive as the most favorable performance criteria applicable for that year to any award to a named executive officer of the Company, within the meaning of
Section&nbsp;402(a)(3) of Regulation S-K promulgated by the Securities and Exchange Commission; or (B)&nbsp;in the event the Company has not established an executive bonus plan with performance goals covering the year in which the Date of
Termination occurs, a pro-rata portion of the bonus earned by the Executive pursuant to <U>Section&nbsp;3.2</U> of this Agreement for the year prior to the year in which the Date of Termination occurs (determined by multiplying the amount of the
bonus earned by the Executive for the year prior to the year in which the Date of Termination occurs by a fraction, the numerator of which is the number of days that the Executive was employed by the Company in the year in which the Date of
Termination occurs and the denominator of which is 365). If payable under (A), the Pro-Rata Bonus shall be payable in due course pursuant to the terms of the applicable bonus programs but in no event later than March&nbsp;15 of the calendar year
following the calendar year to which the bonus relates (B), the Pro-Bonus shall be payable within thirty (30)&nbsp;days following the Date of Termination; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(vii)</TD>
<TD ALIGN="left" VALIGN="top">subject to (A)&nbsp;the Executive&#146;s (or in the event of the Executive&#146;s death, his dependent&#146;s) timely election of continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985,
as amended (&#147;<B><I>COBRA</I></B>&#148;), and (B)&nbsp;the Executive&#146;s (or in the event of the Executive&#146;s death, his dependent&#146;s) continued copayment of premiums at the same level and cost to the Executive as if the Executive
were an employee of the Company (excluding, for purposes of calculating cost, an employee&#146;s ability to pay premiums with pre-tax dollars), continued participation in the Company&#146;s group health plan (to the extent permitted under applicable
law and the terms of such plan) which covers the Executive (and the Executive&#146;s eligible dependents, as the case may be) for a period of eighteen (18)&nbsp;months at the Company&#146;s expense, <U>provided</U> that the Executive (or eligible
dependent) is eligible and remains eligible for COBRA coverage; and <U>provided</U>, <U>further</U>, that in the event that the Executive obtains other employment that offers group health benefits, such continuation of coverage by the Company shall
immediately cease (the benefits and conditions specified in this <U>Section&nbsp;8.4(a)(vii)</U>, &#147;<B><I>Medical Continuation Benefits</I></B>&#148;); and </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">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(viii)</TD>
<TD ALIGN="left" VALIGN="top">notwithstanding anything to the contrary contained herein or in the vesting and exercisability schedule in any stock option or other grant agreement between the Company and the Executive, all of the Executive&#146;s
then outstanding stock options and other equity awards, if any, granted by the Company to the Executive pursuant to any such agreement shall, to the extent not already vested, vest in their entirety and, as applicable, become immediately and
automatically exercisable commencing on the Date of Termination, with such options and awards remaining exercisable for the lesser of the original option term or twelve (12)&nbsp;months from the date of the Executive&#146;s death. </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">In addition to the above, the Company shall, at the Company&#146;s expense, obtain within 60 days after the Effective Date, and shall maintain
during the Employment Period, a life insurance policy on the life of the Executive issued by a highly rated life insurance company reasonably satisfactory to the Executive that will pay the estate of the Executive in a lump sum cash payment in the
amount of $3.0 million upon the death of the Executive, with such life insurance policy containing such terms and conditions as are reasonably satisfactory to the Executive. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination Due to Disability.</U> If the Executive&#146;s employment is terminated by the Company due to his Disability during the Employment Period, the Company shall pay or provide to the Executive on the Date of
Termination (except, and only to the extent that, a later date is expressly provided in this <U>Section&nbsp;8.4(b)</U>): </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">a lump sum, cash payment in the total amount equal to 2.0 times the amount equal to the sum of (A)&nbsp;the Executive&#146;s Base Salary as of the Date of Termination, plus (B)&nbsp;the amount of the Executive&#146;s
Annual Bonus with respect to the calendar year immediately preceding the year in which the Date of Termination occurs (the &#147;<B><I>Severance Payment</I></B>&#148;), subject to receipt by the Company of a release executed by the Executive
pursuant to and in accordance with <U>Section&nbsp;8.5</U> hereof; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">the Amounts and Benefits; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">the Prior Year Bonuses; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top">the Pro-Rata Bonus; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top">the Medical Continuation Benefits; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(vi)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt">notwithstanding anything to the contrary contained herein or in the vesting and exercisability schedule in any stock option or other grant agreement
between the Company and the Executive, all of the Executive&#146;s then outstanding stock options and other equity </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">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
awards, if any, granted by the Company to the Executive pursuant to any such agreement shall, to the extent not already vested, vest in their entirety and, as applicable, become immediately and
automatically exercisable commencing on the Date of Termination. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination for Cause or without Good Reason</U>. If the Executive&#146;s employment is terminated by the Company for Cause or by the Executive without Good Reason during the Employment Period, the Executive shall
receive from the Company the Amounts and Benefits within 30 days of the Date of Termination, the Executive&#146;s non-vested stock options and other non-vested equity awards shall be immediately and automatically forfeited, the Executive shall be
entitled to exercise any of his vested options and other vested equity award within the sixty (60)&nbsp;consecutive day period immediately following the termination of the Executive&#146;s employment (but not after the original option term), and
retain his other vested equity awards, and the Company shall have no further obligation with respect to this Agreement other than as provided in <U>Section&nbsp;10</U> below. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination without Cause or for Good Reason</U>. If the Executive terminates his employment under this Agreement for Good Reason or the Company terminates the Executive&#146;s employment hereunder without Cause
(other than a termination by reason of death or Disability) during the Employment Period, and the Executive has not received and is not entitled to any payment under <U>Sections 8.4(e)</U> hereof, then the Company shall pay or provide the Executive
on the Date of Termination (except, and only to the extent that, a later date is expressly provided in this <U>Section&nbsp;8.4(e)</U>): </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">a lump sum, cash payment in the total amount equal to the Severance Payment, subject to receipt by the Company of a release executed by the Executive pursuant to and in accordance with <U>Section&nbsp;8.5</U> hereof;
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">the Amounts and Benefits; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">the Prior Year Bonuses; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top">the Pro-Rata Bonus; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top">the Medical Continuation Benefits; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(vi)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt">in the event a Change in Control shall not have theretofore occurred, and the Company has terminated the Executive&#146;s employment under this
Agreement without Cause or the Executive has terminated his employment under this Agreement for Good Reason, notwithstanding anything to the contrary contained herein or in the vesting and exercisability schedule in any stock option or other grant
agreement between the Company and the Executive, all </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">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
of the Executive&#146;s then outstanding stock options and other equity awards, if any, granted by the Company to the Executive pursuant to any such agreement shall, to the extent not already
vested, vest in their entirety and, as applicable, become immediately and automatically exercisable commencing on the Date of Termination., and the Executive shall be entitled to exercise such options within the sixty (60)&nbsp;consecutive day
period immediately following the Date of Termination (but not after the original option term). </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination Following a Change in Control</U> If the Executive terminates his employment under this Agreement for Good Reason or the Company terminates the Executive&#146;s employment hereunder without Cause (other
than a termination by reason of death or Disability) within 24 months after a Change in Control (defined below in this <U>Section&nbsp;8.4(e)</U>), then the Company shall pay or provide the Executive on the Date of Termination (except, and only to
the extent that, a later date is expressly provided in this <U>Section&nbsp;8.4(e)</U>): </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">a lump sum cash payment in the total amount equal to 2.9 times the amount equal to the sum of (A)&nbsp;the Executive&#146;s Base Salary as of the Date of Termination plus (B)&nbsp;the amount of Executive&#146;s Annual
Bonus with respect to the calendar year immediately preceding the year in which the Date of Termination occurs (&#147;<B><I>Change in Control Severance Payment</I></B>&#148;), subject to receipt by the Company of a release executed by the Executive
pursuant to and in accordance with Section&nbsp;8.5 hereof; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">the Amounts and Benefits; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">the Prior Year Bonuses; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top">the Pro-Rata Bonus; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top">the Medical Continuation Benefits; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(vi)</TD>
<TD ALIGN="left" VALIGN="top">notwithstanding anything to the contrary contained herein or in the vesting and exercisability schedule in any stock option or other grant agreement between the Company and the Executive, all of the Executive&#146;s
then outstanding stock options and other equity awards, if any, granted by the Company to the Executive pursuant to any such agreement shall, to the extent not already vested, vest in their entirety and, as applicable, become immediately and
automatically exercisable commencing on the Date of Termination. </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">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top"><U>Change in Control</U>. For purposes of this Agreement, a &#147;<B><I>Change in Control</I></B>&#148; means any of the following events occurring during the Employment Period: </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">individuals who, as of April&nbsp;1, 2015, constitute the Board (the &#147;<B><I>Incumbent Board</I></B>&#148;) cease for any reason to constitute at least a majority of the Board; provided, however, that any person
becoming a director subsequent to April&nbsp;1, 2015, whose election, or nomination for election by the Company&#146;s shareholders, was approved by a vote of at least a majority of the directors comprising the Incumbent Board (other than an
election or nomination of an individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the directors of the Company, or other actual or threatened solicitation of proxies
by or on behalf of an individual, entity or group other than the Board relating to the election of the directors of the Company) shall be deemed to be, for purposes of this Agreement, a member of the Incumbent Board; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">the date that any one person, or more than one person acting as a group (as defined in Treas. Regs. Section&nbsp;1.409A-3), acquires ownership of stock of the Company that, together with stock held by such person or
group, constitutes more than fifty percent (50%)&nbsp;of the total fair market value or total voting power of the stock of the Company; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">the date any one person, or more than one person acting as a group (as defined in Treas. Regs. Section&nbsp;1.409A-3), acquires (or has acquired during the 12-month period ending on the date of the most recent
acquisition by such person or persons) ownership of stock of the Company possessing thirty percent (30%)&nbsp;or more of the total voting power of the stock of the Company, other than the acquisition by </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">any Person or group, which as of the date hereof has such ownership; or</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">any of the Golsen Group (as defined below). </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">For the purposes of this Agreement, the term
&#147;<B><I>Golsen Group</I></B>&#148; shall mean:</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Jack E. Golsen; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top">the spouse of Jack E. Golsen; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top">Barry H. Golsen, Steven J. Golsen and Linda Golsen Rappaport, who are the children of Jack E. Golsen, or any spouse of such children; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top">any estate of, or the executor or administrator of any estate of, or any guardian or custodian for, any Person described in subparagraphs (1), (2), or (3), above, so long as such executor, administrator, guardian or
custodian is acting only in his, her or its capacity as such; </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">12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top">any corporation, trust (including any voting trust), general partnership, limited partnership, limited liability company, organization or other entity (whether now existing or hereafter formed) of which at least 80% of
the outstanding beneficial voting or equity interest are beneficially owned, directly or indirectly, either (i)&nbsp;by one or more of the Persons described in subparagraphs (1), (2), (3), or (4), above, or (ii)&nbsp;by any combination of one or
more of the Persons described in subparagraphs (1), (2), (3), or (4), above; and, </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(6)</TD>
<TD ALIGN="left" VALIGN="top">any other Person (i)&nbsp;who or which is or becomes an Affiliate or Associate of any Person described in subparagraph (1), (2), (3), (4), or (5), above, or (ii)&nbsp;of which any Person described in subparagraph (1),
(2), (3), (4), or (5), above, is or becomes an Affiliate or Associate; provided, however, in either case (i)&nbsp;or case (ii)&nbsp;of this subparagraph (6), such other Person is not the Beneficial Owner of 5% or more of the shares of Common Stock
of the Company then outstanding (for purposes of determining the number of shares of Common Stock of the Company of which such other Person is the Beneficial Owner under this subparagraph (6), such other Person shall not be deemed to beneficially
own shares of any Person described in subparagraphs (1), (2), (3), (4), or (5), above, solely by reason of an Affiliate or Associate relationship of the kind described in (i)&nbsp;or (ii)&nbsp;above in this subparagraph (6)). </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">For the purposes of this Agreement, the term &#147;<B><I>Person</I></B>&#148; shall mean any individual, firm, corporation or other entity,
and shall include any successor (by merger or otherwise) of such entity. The terms &#147;<B><I>Affiliate</I></B>&#148; and &#147;<B><I>Associate</I></B>&#148; shall have the respective meanings ascribed to such terms in Rule 12b-2 of the General
Rules and Regulations under the Securities Exchange Act of 1934, as amended (the term &#147;registrant&#148; in the definition of &#147;Associate&#148; meaning, in this case, the Company). </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(g)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Payments of Compensation Upon Termination</U>. For the avoidance of doubt, in the event the Executive shall be entitled to receive payments and
benefits pursuant to any one of <U>Sections 8.4(a)</U>, <U>(b)</U>, <U>(c)</U>, <U>(d)</U>, or <U>(e)</U>&nbsp;above, he shall be entitled to no payments or benefits under any other of such Sections, except as expressly provided in this Agreement.
Notwithstanding any provision to the contrary contained in this <U>Section&nbsp;8.4</U>, if any bonus amount is based in whole or in part on the results of the audit by the Company&#146;s independent public accountants of the Company&#146;s
</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">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
financial statements for a calendar year, and such amount cannot be paid within the applicable 30 day period provided for herein, then such amount shall be paid no later than March&nbsp;15 of the
calendar year immediately following the calendar year to which it relates. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.5</TD>
<TD ALIGN="left" VALIGN="top"><U>Release</U>. The Company&#146;s obligation to pay Executive the Severance Payment (<U>Section 8.4(b)(i)</U> or <U>(d)(i))</U> and the Change in Control Severance Payment (<U>Section 8.4(e)(i)</U>), shall be subject
to the Executive executing a release of claims against the Company before the end of the Release Expiration Date (defined below) and provided further that nothing contained in such release shall constitute a release of the Company from any
obligations it may have to the Executive (a)&nbsp;under this Agreement or any other written agreement between the Executive and the Company in effect as of the Date of Termination; (b)&nbsp;relating to any employee benefit plan, stock option plan,
stock option agreement or ownership of the Company&#146;s stock or debt securities; or (c)&nbsp;relating to any rights of indemnification and/or defense under the Company&#146;s certificate of incorporation, bylaws, or coverage under officers and
directors insurance. The Company will deliver such release to Executive pursuant to and in accordance with the terms of this <U>Section&nbsp;8.5</U> within ten (10)&nbsp;business days following the date on which such termination of employment
constitutes a separation of service under the terms of this Agreement, and the Company&#146;s failure to deliver such release prior to the expiration of such ten (10)&nbsp;business day period shall constitute a waiver of any requirement to execute
such release. Assuming timely delivery of the release by the Company, if the release is pursuant to and in accordance with this Section&nbsp;8.5, and Executive fails to execute such release on or prior to the Release Expiration Date, Executive will
not be entitled to any severance payments or benefits otherwise subject to the release condition. In any case where the date of the separation from service and the Release Expiration Date fall in two separate taxable years, any payments required to
be made to Executive that are subject to the release condition and are treated as nonqualified deferred compensation for purposes of Section&nbsp;409A shall be made in the later taxable year. The term &#147;<B><I>Release Expiration
Date</I></B>&#148; shall mean the date that is twenty-one (21)&nbsp;days following the date upon which the Company timely delivers to Executive the release contemplated above, or in the event that Executive&#146;s separation from service is &#147;in
connection with an exit incentive or other employment termination program&#148; (as such phrase is defined in the Age Discrimination in Employment Act of 1967), the date that is forty-five (45)&nbsp;days following such delivery. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.6</TD>
<TD ALIGN="left" VALIGN="top"><U>No Duty to Mitigate</U>. The Executive shall not be required to mitigate the amount of any payment provided for in this <U>Section&nbsp;8</U> by seeking other employment or otherwise, nor shall the amount of any
payment provided for in this <U>Section&nbsp;8</U> be reduced by any compensation earned by the Executive as the result of the Executive&#146;s employment by another employer or business or by profits earned by the Executive from any other source at
any time before and after the Executive&#146;s date of termination. </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">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9. <U><B>Indemnification</B></U><B>.</B> The Company shall indemnify and hold harmless the Executive against any
and all expenses reasonably incurred by him in connection with or arising out of (a)&nbsp;the defense of any action, suit or proceeding in which he is a party, or (b)&nbsp;any claim asserted or threatened against him, in either case by reason of or
relating to his being or having been an employee, officer or director of the Company or a subsidiary of the Company, whether or not he continues to be such an employee, officer or director at the time of incurring such expenses, except insofar as
such indemnification is prohibited by law. Such expenses shall include, without limitation, the fees and disbursements of attorneys, amounts of judgments and amounts of any settlements, provided that such expenses are agreed to in advance by the
Company. The foregoing indemnification obligation is independent of any similar obligation provided in the Company&#146;s certificate of incorporation or bylaws, and shall apply with respect to any matters attributable to periods prior to the date
of this Agreement, and to matters attributable to the Executive&#146;s employment hereunder, without regard to when asserted. In no event shall the Company be liable for the fees and expenses of more than one counsel (in addition to any local
counsel) separate from its own counsel, and the Company will not indemnify the Executive for the fees or expenses of the Executive&#146;s counsel in connection with any claim which is being defended by counsel appointed by the Company or the
Company&#146;s insurance carrier; provided, however, that if the Executive shall have reasonably concluded (based on the advice of counsel) that there is a conflict of interest between the Company and the Executive for counsel appointed by the
Company or the Company&#146;s insurance carrier that would prohibit the counsel retained by the Company or its insurance carrier from representing the Executive, the Company shall reimburse the Executive for the reasonable fees and expenses of one
(1)&nbsp;separate counsel for the Executive in connection with such claims, subject to the limitations set forth above in this Section&nbsp;9. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.
<U><B>Section&nbsp;409A and Section&nbsp;280G of the Code</B></U><B>.</B> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.1</TD>
<TD ALIGN="left" VALIGN="top"><U>Compliance with Section&nbsp;409A</U>. It is intended that the provisions of this Agreement comply with or be excepted from Section&nbsp;409A, as applicable, and all provisions of this Agreement shall be construed in
a manner consistent with the requirements for avoiding taxes or penalties under Section&nbsp;409A. If any provision of this Agreement (or of any award of compensation, including equity compensation or benefits) would cause the Executive to incur any
additional tax or interest under Section&nbsp;409A, the Company shall, upon the specific request of the Executive, use its reasonable business efforts to in good faith reform such provision to comply with Section&nbsp;409A; <U>provided</U>, that to
the maximum extent practicable, the original intent and economic benefit to the Executive and the Company of the applicable provision shall be maintained, but the Company shall have no obligation to make any changes that could create any additional
economic cost or loss of benefit to the Company. The Company shall timely use its reasonable business efforts to amend any plan or program in which the Executive participates to bring it in compliance with Section&nbsp;409A to the extent such
compliance is required. Notwithstanding the foregoing, the Company shall have no liability with regard to any failure to comply with Section&nbsp;409A so long as it has acted in good faith with regard to compliance therewith. </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">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.2</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Separation From Service</U>. A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement
providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a &#147;<B><I>Separation from Service</I></B>&#148; within the meaning of Section&nbsp;409A and, for purposes of any
such provision of this Agreement, references to a &#147;resignation,&#148; &#147;termination,&#148; &#147;termination of employment&#148; or like terms shall mean Separation from Service. If the Executive is deemed on the date of termination of his
employment to be a &#147;<B><I>specified employee</I></B>&#148;, within the meaning of that term under Section&nbsp;409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default
methodology, then with regard to any payment, the providing of any benefit or any distribution of equity made subject to this Section to the extent required to be delayed in compliance with Section&nbsp;409A(a)(2)(B) of the Code, and any other
payment, the provision of any other benefit or any other distribution of equity that is required to be delayed in compliance with Section&nbsp;409A(a)(2)(B) of the Code, such payment, benefit or distribution shall not be made or provided prior to
the earlier of (i)&nbsp;the expiration of the six-month period measured from the date of the Executive&#146;s Separation from Service or (ii)&nbsp;the date of the Executive&#146;s death. On the first day of the seventh month following the date of
the Executive&#146;s Separation from Service or, if earlier, on the date of his death, (x)&nbsp;all payments delayed pursuant to this Section (whether they would have otherwise been payable in a single sum or in installments in the absence of such
delay) shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein and (y)&nbsp;all
distributions of equity delayed pursuant to this <U>Section&nbsp;10</U> shall be made to the Executive. In addition to the foregoing, to the extent required by Section&nbsp;409A(a)(2)(B) of the Code, prior to the occurrence of a Disability
termination as provided in this Agreement, the payment of any compensation to the Executive under this Agreement shall be suspended for a period of six months commencing at such time that the Executive shall be deemed to have had a Separation from
Service because either (A)&nbsp;a sick leave ceases to be a bona fide sick leave of absence, or (B)&nbsp;the permitted time period for a sick leave of absence expires (an &#147;<B><I>SFS Disability</I></B>&#148;), without regard to whether such SFS
Disability actually results in a Disability termination. Promptly following the expiration of such six-month period, all compensation suspended pursuant to the foregoing sentence (whether it would have otherwise been payable in a single sum or in
installments in the absence of such suspension) shall be paid or reimbursed to the Executive in a lump sum. On any delayed payment date under this Section there shall be paid to the Executive or, if the Executive has died, to his estate, in a single
cash lump sum together with the payment of such delayed payment, interest on the aggregate amount of such delayed payment at the Delayed Payment Interest Rate (defined below in this <U>Section&nbsp;10.2</U>) computed from the date on which such
delayed payment otherwise would have been made to the Executive until the date paid. For purposes of the foregoing, the &#147;<B><I>Delayed Payment Interest Rate</I></B>&#148; shall mean the short term applicable federal rate provided
</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">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
for in Section&nbsp;1274(d) of the Code as of the business day immediately preceding the payment date for the applicable delayed payment. To the extent that this Agreement provides for any
payments of nonqualified deferred compensation (within the meaning of Section&nbsp;409A) to be made in installments (including, without limitation, any severance payments), each such installment shall be deemed to be a separate and distinct payment
for purposes of Section&nbsp;409A. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.3</TD>
<TD ALIGN="left" VALIGN="top"><U>Reimbursement Provisions</U>. With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Section&nbsp;409A, (i)&nbsp;the right to
reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii)&nbsp;the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses
eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, <U>provided</U> that the foregoing clause (ii)&nbsp;shall not be violated with regard to expenses reimbursed under any arrangement covered by
Section&nbsp;105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect and (iii)&nbsp;such payments shall be made on or before the last day of the Executive&#146;s taxable year
following the taxable year in which the expense was incurred. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.4</TD>
<TD ALIGN="left" VALIGN="top"><U>280G Parachute Payments</U>. In the event that any payments or benefits (whether made or provided pursuant to this Agreement or otherwise) provided to Executive constitute &#147;parachute payments&#148;&#146; within
the meaning of Section&nbsp;280G of the Code (&#147;<B><I>Parachute Payments</I></B>&#148;), and will be subject to an excise tax imposed pursuant to Section&nbsp;4999 of the Code, the Executive&#146;s Parachute Payments will be reduced to an amount
determined by the Company in good faith to be the maximum amount that may be provided to the Executive without resulting in any portion of such Parachute Payments being subject to such excise tax (the amount of such reduction, &#147;<B><I>Cutback
Benefits</I></B>&#148;). The Parachute Payment reduction contemplated by the preceding sentence, if applicable, shall be implemented by determining the &#147;Parachute Payment Ratio&#148; (as defined below) for each Parachute Payment and then
reducing the Parachute Payment in order beginning with the Parachute Payment with the highest Parachute Payment Ratio. For Parachute Payments with the same Parachute Payment Ratio, such Parachute Payments shall be reduced based on the time of
payment of such Parachute Payments, with amounts having later payment dates being reduced first. For Parachute Payments with the same Parachute Payment Ratio and the same time of payment, such Parachute Payments shall be reduced on a pro rata basis
(but not below zero) prior to reducing Parachute Payments with a lower Parachute Payment Ratio. For purposes hereof, the term &#147;<B><I>Parachute Payment Ratio</I></B>&#148; shall mean a fraction the numerator of which is the value of the
applicable Parachute Payment for purposes of Section&nbsp;280G of the Code and the denominator of which is the intrinsic value of such Parachute Payment. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.5</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Dodd-Frank Requirement</U>.&nbsp;Notwithstanding any provision of this Agreement to the contrary, Executive acknowledges that any incentive-based
compensation paid to Executive pursuant hereto may be subject to recovery by the Company under </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">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
any generally applicable clawback policy which is adopted, as required under Section&nbsp;954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the rules and regulations of the
United States Securities and Exchange Commission thereunder or the requirements of any national securities exchange on which the Company&#146;s common stock may be traded. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">11. <U><B>Miscellaneous.</B></U> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.1</TD>
<TD ALIGN="left" VALIGN="top"><U>Governing Law</U>. This Agreement shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed by and construed in accordance with those laws, without reference
to principles of conflict of laws. The Company and the Executive unconditionally consent to submit to the exclusive jurisdiction of any state or federal court located in Oklahoma County, State of Oklahoma for any actions, suits or proceedings
arising out of or relating to this Agreement and the transactions contemplated hereby (and agree not to commence any action, suit or proceeding relating thereto except in such courts), and further agree that service of any process, summons, notice
or document by registered mail to the address set forth below shall be effective service of process for any action, suit or proceeding brought against the Company or the Executive, as the case may be, in any such court. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.2</TD>
<TD ALIGN="left" VALIGN="top"><U>No Assignment</U>. The Executive may not delegate his duties or assign his rights hereunder. No rights or obligations of the Company under this Agreement may be assigned or transferred by the Company other than
pursuant to a merger or consolidation in which the Company is not the continuing entity, or a sale, liquidation or other disposition of all or substantially all of the assets of the Company. For the purposes of this Agreement, the term
&#147;<B><I>Company</I></B>&#148; shall include the Company and, subject to the foregoing, any of its successors and assigns. This Agreement shall inure to the benefit of, and be binding upon, the parties hereto and their respective heirs, legal
representatives, successors and permitted assigns. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.3</TD>
<TD ALIGN="left" VALIGN="top"><U>Severable</U>. The invalidity or unenforceability of any provision hereof shall not in any way affect the validity or enforceability of any other provision. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.4</TD>
<TD ALIGN="left" VALIGN="top"><U>Entire Understanding</U>. This Agreement supersedes any and all other agreements, either oral or in writing, between the parties hereto with respect to the employment of the Executive by the Company and contains all
of the covenants and agreements between the parties with respect to such employment in any manner whatsoever, it being acknowledged and agreed by the parties, however, that the Severance Agreement shall terminate and become null and void effective
as of the Effective Date. Any modification or termination of this Agreement will be effective only if it is in writing signed by the party to be charged. This Agreement shall not be deemed to be modified, superceded, or amended, by the terms of the
Company&#146;s Code of Ethics for CEO and Senior Financial Officers or any Confidentiality Agreement as in effect from time to time, and if there is any provision in the Code of Ethics or Confidentiality Agreement that conflicts with this Agreement,
this Agreement shall be controlling. </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">18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.5</TD>
<TD ALIGN="left" VALIGN="top"><U>Counterparts</U>. This Agreement may be executed by the parties in one or more counterparts, each of which shall be deemed to be an original but all of which taken together shall constitute one and the same
agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and delivered to each of the other parties hereto. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.6</TD>
<TD ALIGN="left" VALIGN="top"><U>Mutual Non-Disparagement</U>.&nbsp;Subject to applicable law, the Executive covenants and agrees that the Executive shall not in any way publicly disparage, call into disrepute, or otherwise defame or slander the
Company or any of its subsidiaries, in any manner that would materially damage the business or reputation of the Company or its subsidiaries. The Company covenants and agrees, on behalf of itself and its subsidiaries, that neither the Company, any
of its subsidiaries nor any of the officers or directors of the Company or any of its subsidiaries shall in any way publicly disparage, call into disrepute, or otherwise defame or slander the Executive.&nbsp;Nothing in this paragraph 11.6 shall
preclude or restrict the Executive or the Company or any of the subsidiaries of the Company from making truthful statements, including, without limitation, those that are required by applicable law, regulation or in connection with a legal process
or proceeding, and the making of such statements shall not be a violation of this subsection. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.7</TD>
<TD ALIGN="left" VALIGN="top"><U>Confidential Information and Restrictive Covenants</U> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">11.7.1</TD>
<TD ALIGN="left" VALIGN="top"><U>No Disclosure</U>. Subject to the terms of this <U>Section&nbsp;11.7</U>, during the Restricted Period (as defined below), the Executive agrees to hold in confidence and not disclose any and all proprietary, secret
or confidential information (&#147;Confidential Information&#148;) relating to the Company or the Company&#146;s subsidiaries, which shall have been obtained by the Executive during the Executive&#146;s employment by the Company. Confidential
Information is defined as the proprietary, client or business information of the Company, written or in a physical embodiment, including, but not limited to, customer lists, employee lists, financial information, pricing data, sales data, marketing
data, or business plans or proposals. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">11.7.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Exception</U>. Notwithstanding the provisions of <U>Section&nbsp;11.7.1</U> above, the Executive shall not be held liable for disclosure of information which was in the public domain, or is readily available to the
public at the time of its disclosure by the Executive through means unrelated to the Executive&#146;s disclosure, or is required to be disclosed in, or in connection with, a legal proceeding or process or is required to be disclosed by law, rule or
regulation. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><U>11.7.3</U></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Other Restrictive Covenant</U>. Subject to the terms hereof, the Executive agrees that during the Restricted Period he will not, by or for himself,
or as an agent, representative or employee of another, do or attempt to solicit, </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">19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="14%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
entice, persuade or induce any individual who is employed by the Company or its subsidiaries (or was so employed within 90 days prior to the Executive&#146;s action) to terminate or refrain from
renewing or extending such employment or to become employed by or enter into contractual relations with any other individual or entity other than the Company or its subsidiaries. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><U>11.7.4</U></TD>
<TD ALIGN="left" VALIGN="top"><U>Restricted Period</U>. &#147;Restricted Period&#148; is the 12-month period after the date of termination of the Executive&#146;s employment with the Company. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">11.7.5</TD>
<TD ALIGN="left" VALIGN="top"><U>Confidentiality and Assignment Agreement</U>. If any of the restrictions provided in <U>Section&nbsp;11.7</U> are contrary to the requirements or limitations contained in the Confidentiality and Assignment Agreement,
the terms of this <U>Section&nbsp;11.7</U> of this Agreement shall be controlling. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12. <U><B>Notices</B><B>.</B></U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All notices relating to this Agreement shall be in writing and shall be either personally delivered, sent by telecopy (receipt confirmed) or
mailed by certified mail, return receipt requested, to be delivered at such address as is indicated below, or at such other address or to the attention of such other person as the recipient has specified by prior written notice to the sending party.
Notice shall be effective when so personally delivered, one business day after being sent by telecopy or five days after being mailed. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">To
the Company: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">LSB Industries, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">16 South Pennsylvania Avenue </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Post Office Box 754 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Oklahoma
City, OK 73107 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Attention: General Counsel </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">With copies in the same manner to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Conner&nbsp;&amp; Winters, LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">1700 One Leadership Square </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">211
North Robinson </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Oklahoma City, OK 73102-71012 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Attention: Irwin Steinhorn, Esq. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">To the Executive: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Barry H.
Golsen </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">16 South Pennsylvania </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Post Office Box 754 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Oklahoma
City, OK 73107 </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">20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have executed this agreement as of the 27<SUP
STYLE="font-size:85%; vertical-align:top">th</SUP> day of April 2015. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="45%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>LSB Industries, Inc.:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>Executive:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Tony M. Shelby</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Barry H. Golsen</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Tony M. Shelby</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Barry H. Golsen</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">21 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>6
<FILENAME>d918969dex994.htm
<DESCRIPTION>EX-99.4
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.4</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.4 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EMPLOYMENT AGREEMENT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Mark
T. Behrman) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS EMPLOYMENT AGREEMENT (&#147;<B><I>Agreement</I></B>&#148;) is effective the 27<SUP
STYLE="font-size:85%; vertical-align:top">th</SUP> day of April 2015 (the &#147;<B><I>Effective Date</I></B>&#148;), by and between LSB INDUSTRIES, INC., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), and MARK T. BEHRMAN
(the&nbsp;&#147;<B><I>Executive</I></B>&#148;). In consideration of the mutual promises made in this Agreement, the Company and the Executive agree as follows. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WITNESSETH </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the
Executive is currently, and has been since the commencement of his employment by the Company on March&nbsp;3, 2014 (the &#147;<B><I>Hire Date</I></B>&#148;), employed by the Company as its Senior Vice-President Corporate Development; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company desires to promote the Executive to serve as the Executive Vice President and Chief Financial Officer of the Company
effective as of the 2015 annual meeting of shareholders of the Company (the &#147;<B><I>Promotion Effective Date</I></B>&#148;), and the Executive desires to be employed by the Company in such positions, pursuant to the terms as provided herein;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on the Hire Date, the Company and the Executive entered into a certain Severance Agreement (the &#147;<B><I>Severance
Agreement</I></B>&#148;), the substantive provisions of which are generally included in this Agreement, and the Company and the Executive will terminate the Severance Agreement as of the Effective Date; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on the Hire Date, the Company and the Executive entered into a certain Letter Agreement (the &#147;<B><I>Letter
Agreement</I></B>&#148;), and the Company and the Executive will terminate the Letter Agreement as of the Promotion Effective Date; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, upon the Promotion Effective Date, the Company and the Executive intend that the terms of the Executive&#146;s employment be amended
as set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, and for other good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Executive hereby agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1.
<B><U>Employment; Term</U>.</B> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.1</TD>
<TD ALIGN="left" VALIGN="top"><U>Employment</U>. The Executive is currently employed by the Company as its Senior Vice President, Corporate Development pursuant to the terms and conditions of the Letter Agreement, which terms remain in effect
following the Effective Date, except as otherwise expressly modified or superseded by the terms of this Agreement, and upon the Promotion Effective Date, such Letter Agreement shall terminate and will be null and void in all respects. The Company
shall continue to employ Executive, and Executive accepts continued employment with the Company, upon the terms and conditions set forth in this Agreement. </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">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Term<B>.</B></U> Unless earlier terminated as provided in this Agreement, the initial term of this Agreement shall begin on the Effective Date and end on the third anniversary of the Effective Date (the
&#147;<B><I>Initial Term</I></B>&#148;). At the end of the Initial Term this Agreement will automatically be extended for one additional year, unless at least six (6)&nbsp;months prior to the expiration of the Initial Term the Company or the
Executive shall have given written notice to the other not to extend the term of the Agreement. The Initial Term, as may be extended, is hereinafter referred to as the &#147;<B><I>Employment Period</I></B><I>.</I>&#148; </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. <B><U>Capacities, Duties and Authority</U>.</B> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.1</TD>
<TD ALIGN="left" VALIGN="top"><U>Capacities</U>. Commencing on the Promotion Effective Date, the Executive shall serve as Executive Vice President and Chief Financial Officer of the Company in such capacities, with such duties and authority, for
such period, at such level of compensation and with such benefits and upon such other terms and subject to such other conditions, as are set forth in this Agreement. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Duties and Authority</U>. In his capacity as Executive Vice President and Chief Financial Officer of the Company, the Executive shall participate as a member of the Company&#146;s senior leadership team and shall
have the authorities, duties and responsibilities currently exercised by the Company&#146;s current Chief Financial Officer and as are customarily performed by persons acting in such capacity for similarly situated public companies, along with such
other authorities, duties and responsibilities as may from time to time be delegated to him by the Board of Directors of the Company (the &#147;<B><I>Board</I></B>&#148;) or the Chief Executive Officer of the Company (the
&#147;<B><I>CEO</I></B>&#148;), provided they are consistent with and in the reasonable scope of those customarily exercised by individuals serving in the chief financial officer position. The Executive shall render his services diligently and
faithfully and devote the Executive&#146;s best efforts and full professional time and attention to the business and affairs of the Company and the Company&#146;s subsidiaries. During the Employment Period, the Executive shall not serve as a
director or principal of any other company or charitable or civic organization without the prior written consent of the Board. The Executive shall be expected to follow and be bound by the terms of the Company&#146;s Code of Ethics for CEO and
Senior Financial Officers, as may be amended by the Board from time to time, and any other policies applicable to senior management personnel as the Company from time to time may adopt; provided in any such case the Executive has acknowledged
receipt of a copy of any such amended Code or other policy. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.3</TD>
<TD ALIGN="left" VALIGN="top"><U>Location</U>. The principal place(s) of employment of the Executive shall be the Company&#146;s executive offices in Oklahoma City, Oklahoma, subject to reasonable travel requirements, consistent with the nature of
the Executive&#146;s duties from time to time, for the business of the Company or the Company&#146;s subsidiaries. </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">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. <B><U>Compensation</U>.</B> </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.1</TD>
<TD ALIGN="left" VALIGN="top"><U>Base Salary</U>. Commencing on the Promotion Effective Date, the Executive shall be paid a base salary during the Employment Period at the annual rate of $400,000, payable in accordance with the regular payroll
practices of the Company in effect from time to time. The Board or its Compensation and Stock Option Committee (the &#147;<B><I>Compensation Committee</I></B>&#148;) shall annually review the Executive&#146;s performance and determine, in its sole
discretion, whether or not to increase the Executive&#146;s base salary and, if so, the amount of such increase. The Executive&#146;s base salary may not be decreased without the consent of the Executive. The Executive&#146;s base salary, as
increased from time to time, is hereinafter referred to as the &#147;<B><I>Base Salary</I></B>.&#148; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.2</TD>
<TD ALIGN="left" VALIGN="top"><U>2014 Signing Bonus.</U> If, as of the Promotion Effective Date, the Executive has not already received his previously guaranteed signing bonus of not less than $150,000 for the calendar year ended December&nbsp;31,
2014, as provided in the Letter Agreement, such bonus shall be paid to the Executive on the earlier date to occur of (a)&nbsp;the date that bonuses are first paid to the Company&#146;s other senior management personnel for the 2014 calendar year and
(b)&nbsp;July&nbsp;1, 2015. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.3</TD>
<TD ALIGN="left" VALIGN="top"><U>Annual Bonus.</U> From and after the Promotion Effective Date, the Executive will be eligible for, and considered by the Compensation Committee for, an annual bonus each calendar year, based upon his performance and
the financial performance of the Company for such year and such other Company performance guidelines as may be established by the Compensation Committee or the Board in connection with the payment of bonuses by the Company to its senior executive
officers (each, an &#147;<B><I>Annual Bonus</I></B>&#148;); provided that the amount of the Annual Bonus to be awarded to the Executive for each calendar year during the Employment Period as determined by the Compensation Committee or the Board
shall not exceed 150% of the Executive&#146;s Base Salary for the calendar year for which the Annual Bonus is related. Each such Annual Bonus awarded to the Executive by the Compensation Committee shall be paid no later than the earlier date to
occur of (a)&nbsp;the date that bonuses for such year are first paid to the Company&#146;s other senior management personnel and (b)&nbsp;July&nbsp;1 of the year immediately following the year to which such Annual Bonus relates; provided that such
date is not prohibited under Section&nbsp;409A of the Internal Revenue Code of 1986, as amended (the &#147;<B><I>Code</I></B>&#148;) and the regulations and guidance promulgated thereunder (&#147;<B><I>Section 409A</I></B>&#148;). Notwithstanding
the foregoing provisions of this <U>Section&nbsp;3.3</U>, in order to be eligible to receive an Annual Bonus for any particular year, the Executive must be employed on December&nbsp;31<SUP STYLE="font-size:85%; vertical-align:top">st</SUP> of that
year, except as otherwise expressly provided in this Agreement. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <B><U>Equity Awards</U>.</B> </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.1</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Option Grant</U>. On the Promotion Effective Date, the Executive shall receive a non-qualified stock option awarded under the Company&#146;s 2008
Stock Incentive Plan (as may be amended from time to time, the &#147;<B><I>Plan</I></B>&#148;) to purchase up to 50,000 </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">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
shares of the Company&#146;s common stock, par value $.10 per share (&#147;<B><I>Common Stock</I></B>&#148;), at a price per share equal to the per share closing price of the Common Stock on the
last trading day prior to the Promotion Effective Date, which shall be governed by an option agreement, substantially in the form of <B>Exhibit &#147;A&#148;</B> attached hereto. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Other Equity Plans and Other Programs</U>. The Executive shall be entitled to participate in the Plan and any equity plan or program adopted by the Company and will receive allotments (grants) under such plans and
programs commensurate with his level of responsibility in relation to other grants thereunder as determined in the sole discretion of the Board, the Compensation Committee or other committee of the Board designated by the Board for such purpose.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.3</TD>
<TD ALIGN="left" VALIGN="top"><U>Acceleration</U>. Notwithstanding anything to the contrary contained in the vesting and exercisability schedule in any stock option or other grant agreement between the Company and the Executive, including without
limitation, the Non-Qualified Stock Option Agreement dated March&nbsp;3, 2014, in the event of (a)&nbsp;a Change in Control (defined below in <U>Section&nbsp;8.4(h)</U>) and the Executive&#146;s employment with the Company is terminated for any
reason (other than by the Company for Cause, as defined in Section&nbsp;8.1(e) below) within 24 months after the date of such Change in Control or <U>(b)</U>&nbsp;the termination of Executive&#146;s employment hereunder pursuant to any of
<U>Sections 8.1(a)</U>, <U>(b)</U>, <U>(c)</U>&nbsp;and <U>(f)</U>&nbsp;below, all of the Executive&#146;s then outstanding stock options and other equity awards, if any, granted by the Company to the Executive shall, to the extent not already
vested, vest in their entirety and, as applicable, become immediately and automatically exercisable commencing on the earlier to occur of (i)&nbsp;the date of such termination of employment after the Company incurs such Change in Control with
respect to clause (a)&nbsp;above and (ii)&nbsp;with respect to clause (b)&nbsp;above, the applicable Date of Termination (as defined in <U>Section&nbsp;8.3</U> below) and in the manner (and to the extent) expressly set forth in
<U>Section&nbsp;8.4</U> below with respect to such termination. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. <B><U>Fringe Benefits</U></B><B>.</B> During the Employment Period, the
Executive shall be entitled to participate in and have the benefit of all group life, disability, dental, hospital, surgical and major medical insurance plans and programs and other employee benefit plans and programs as generally are made available
to executive personnel of the Company, including any 401(k) or other profit sharing plan, subject to the terms of such plans, as such plans may be adopted, amended, and terminated from time to time. The Executive shall also be added or continued, as
the case may be, as an insured under the Company&#146;s officers and directors insurance policy and all other policies which pertain to executive officers of the Company. The Executive shall, at the Executive&#146;s option, receive the use of a
Company car or a car allowance of $650 per month, as such amount may be increased from time to time, during the Employment Period, in the sole discretion of the Compensation Committee or the Board. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6. <U><B>Reimbursement of Expenses</B></U><B>.</B> The Company shall pay to the Executive the reasonable expenses incurred by him in the performance of his
duties in connection with business related travel or entertainment in accordance with the Company&#146;s policies, as may be amended from time to time, or, if such expenses are paid directly by the Executive, the Company shall promptly
</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">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
reimburse the Executive, subject to presentation of adequate substantiation, including receipts, for the reasonable travel, entertainment, lodging and other business expenses incurred by the
Executive in accordance with the Company&#146;s expense reimbursement policy in effect at the time such expenses are incurred. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7. <B><U>Vacation</U>.
</B>The Executive shall be entitled to four (4)&nbsp;weeks of paid vacation per year. The Executive shall use his vacation in the calendar year in which it is accrued. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B></B>8. <B><U>Termination of Employment</U>. </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.1</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination</U>. The Executive&#146;s employment hereunder shall terminate under the following circumstances: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"><U>Death</U>. The Executive&#146;s employment under this Agreement shall terminate upon his death; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"><U>Disability</U>. If the Executive suffers a Disability (defined below in this <U>Section&nbsp;8.1(b)</U>), the Company may terminate the Executive&#146;s employment under this Agreement upon written Notice of
Termination (defined in <U>Section&nbsp;8.2</U> hereof) with respect to such Disability to the Executive at least thirty (30)&nbsp;days prior to the effective Date of Termination (defined in <U>Section&nbsp;8.3</U> hereof) for such termination. For
purposes of this Agreement, &#147;<B><I>Disability</I></B>&#148; shall mean the Executive&#146;s inability to perform his duties and responsibilities hereunder because of physical or mental illness or incapacity, which condition has
(i)&nbsp;continued for a period of one hundred twenty (120)&nbsp;consecutive days, or (ii)&nbsp;existed for an aggregate of one hundred twenty (120)&nbsp;days, even though not consecutive, within any one hundred eighty (180)&nbsp;day period, all as
determined by the Board in good faith and supported by medical evidence. Notwithstanding the foregoing, if the Executive has recovered from a Disability and returned to full-time service prior to the Date of Termination set forth in the Notice of
Termination relating thereto, the Company may not thereafter terminate the Executive&#146;s employment under this Agreement in respect of such Disability. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"><U>Good Reason</U>. The Executive may terminate his employment under this Agreement for Good Reason (defined below in this <U>Section&nbsp;8.1(c)</U>) at any time on or prior to the 60<SUP
STYLE="font-size:85%; vertical-align:top">th</SUP> day after the occurrence of any of the Good Reason events set forth in the following sentence; provided, however, that, within thirty (30)&nbsp;days after the occurrence of any such event, the
Executive shall have provided the Company with a Notice of Termination with respect to such event and afforded the Company a period of thirty (30)&nbsp;days after its receipt of such Notice of Termination to cure the default that constitutes the
Good Reason event relied upon by the Executive for such termination. For purposes of this Agreement, &#147;<B><I>Good Reason</I></B>&#148; shall mean the occurrence, during the Employment Period, of any of the following events without the
Executive&#146;s prior written consent: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">the failure by the Company to timely comply with its material obligations and agreements contained in the Letter Agreement prior to the Promotion Effective Date or this Agreement, as the case may be, including without
limitation in respect of the appointment of the Executive to serve as Executive Vice President and Chief Financial Officer of the Company on the Promotion Effective Date; or </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">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">the removal of the Executive from the position of, or the loss by the Executive of the title of, (A)&nbsp;Senior <FONT STYLE="white-space:nowrap">Vice-President</FONT> Corporate Development of the Company prior to the
Promotion Effective Date or (B)&nbsp;Executive Vice President or Chief Financial Officer of the Company on or after the Promotion Effective Date; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">a material diminution of the authorities, duties or responsibilities of the Executive set forth in (A)&nbsp;the Letter Agreement prior to the Promotion Effective Date or (B)&nbsp;<U>Section&nbsp;2</U> of this Agreement
on or after the Promotion Effective Date; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top">the relocation of the Executive to an office outside of the Oklahoma City, Oklahoma metropolitan area. </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">The parties agree that a termination for Good Reason shall be treated as an involuntary separation under Section&nbsp;409A. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"><U>Without Good Reason.</U> The Executive may voluntarily terminate his employment under this Agreement without Good Reason upon written Notice of Termination to the Company at least thirty (30)&nbsp;days prior to the
effective Date of Termination (which termination the Company may, in its sole discretion, make effective earlier than the date set forth in the Executive&#146;s Notice of Termination). </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"><U>Cause.</U> The Company may terminate the Executive&#146;s employment under this Agreement for Cause (defined below in this <U>Section&nbsp;8.1(e)</U>) at any time after the occurrence of any of the events set forth
in the following sentence; provided, however, that the Company shall have provided the Executive with a Notice of Termination with respect to such event and, if such event is set forth in clause (iv)&nbsp;of the following sentence, afforded the
Executive the fifteen (15)&nbsp;day period provided in such clause to cure the failure that constitutes such event. For purposes of this Agreement, &#147;<B><I>Cause</I></B>&#148; shall mean the occurrence, during the Employment Period, of any of
the following events: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">a material and willful violation by the Executive of the then most recent Code of Business Conduct of the Company acknowledged and signed by the Executive or the Confidentiality and Assignment Agreement then in effect
between the Company and the Executive; </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">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">the conviction of the Executive of a felony by a federal or state court of competent jurisdiction; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">an act or acts of embezzlement of the Company&#146;s assets by the Executive; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top">the Executive&#146;s willful and continued failure (other than any such failure resulting from the Executive&#146;s incapacity due to a Disability) to (A)&nbsp;substantially perform his obligations under the Letter
Agreement or this Agreement, as the case may be, or (B)&nbsp;follow a direct lawful written order from the Board that is within the reasonable scope of and consistent with the Executive&#146;s duties outlined in the Letter Agreement (for the period
prior to the Promotion Effective Date) or <U>Section&nbsp;2</U> of this Agreement (on or after the Promotion Effective Date), which failure is not cured by the Executive within fifteen (15)&nbsp;days after receipt by the Executive of written notice
from the Company that such failure is occurring. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top"><U>Without Cause.</U> The Company may terminate the Executive&#146;s employment under this Agreement without Cause immediately upon written Notice of Termination with respect thereto by the Company to the Executive.
</TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">For purposes of this <U>Section&nbsp;8.1</U>, no act, or failure to act, on the part of the Executive shall be considered
&#147;<I>willful</I>,&#148; unless done, or omitted to be done, by him in bad faith and without reasonable belief that his action or omission was in, or not opposed to, the best interests of the Company. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Notice of Termination</U>. Any termination of the Executive&#146;s employment by the Company or by the Executive (other than termination by reason of the Executive&#146;s death) shall be communicated by written
Notice of Termination to the other party to this Agreement. For purposes of this Agreement, a &#147;<B><I>Notice of Termination</I></B>&#148; shall mean a written notice which shall set forth the applicable Date of Termination (defined in
<U>Section&nbsp;8.3</U>, below), indicate the specific termination provision in this Agreement relied upon and set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive&#146;s employment
under the provision so indicated. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.3</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Date of Termination</U>. The &#147;<B><I>Date of Termination</I></B>&#148; shall mean (a)&nbsp;if the Executive&#146;s employment is terminated by
his death, the date of his death, (b)&nbsp;if the Executive&#146;s employment is terminated pursuant to <U>Section&nbsp;8.1(b)</U> above, thirty (30)&nbsp;days after Notice of Termination is given, (c)&nbsp;if the Executive&#146;s employment is
terminated pursuant to <U>Sections 8.1(c)</U> or <U>8.1(e)</U> above, the date specified in the Notice of Termination after the expiration of any applicable cure periods, (d)&nbsp;if the Executive&#146;s employment is terminated pursuant to
<U>Section&nbsp;8.1(d)</U> above, the date specified in the Notice of Termination which shall be at least thirty (30)&nbsp;days after Notice of Termination is given, or such earlier date as the Company shall
</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">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
determine, in its sole discretion, and (e)&nbsp;if the Executive&#146;s employment is terminated pursuant to <U>Section&nbsp;8.1(f)</U> above, the date on which the Notice of Termination is
given. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.4</TD>
<TD ALIGN="left" VALIGN="top"><U>Obligations of the Company Upon Termination</U>. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination upon Death</U>. In the event of the Executive&#146;s death during the Employment Period, the Company shall pay or provide to the Executive&#146;s estate within 30 days following the Date of Termination
(except as otherwise provided in this <U>Section&nbsp;8.4(a)</U>): </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">any earned but unpaid Base Salary through the Date of Termination; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">reimbursement for any unreimbursed expenses properly incurred and paid in accordance with <U>Section&nbsp;6</U>, above, through the Date of Termination; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">payment for any accrued but unused vacation time in accordance with Company policy; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top">such vested accrued benefits and other payments, if any, as to which the Executive (and his eligible dependents) may be entitled under, and in accordance with the terms and conditions of, the employee benefit
arrangements, plans and programs of the Company as of the Date of Termination, other than any severance pay plan ((i) through (iv)&nbsp;of this <U>Section&nbsp;8.4(a)</U>, the &#147;<B><I>Amounts and Benefits</I></B>&#148;); </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top">any bonuses earned by the Executive but remaining unpaid for any year prior to the year in which the Date of Termination occurs (the &#147;<B><I>Prior Year Bonuses</I></B>&#148;); </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(vi)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt">a &#147;<B><I>Pro-Rata Bonus</I></B>&#148;, which for purposes of this Agreement means (A)&nbsp;in the event the Company has established one or more
executive bonus programs with performance goals covering the year in which the Date of Termination occurs, a pro-rata portion of the aggregate bonuses payable under such bonus programs for the year in which the Date of Termination occurs (determined
by multiplying the amount of the Executive&#146;s bonus which would be due for the full year by a fraction, the numerator of which is the number of days that the Executive was employed by the Company in the year in which the Date of Termination
occurs and the denominator of which is 365), provided that the performance goals established with respect to the entire such year are met, and provided, further, that in the event the Date of Termination occurs prior to the determination of
performance goals applicable to the performance period for the year of the Executive&#146;s termination of </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">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
employment, the performance criteria applicable to the Executive in respect of the Pro-Rata Bonus shall be at least as favorable to the Executive as the most favorable performance criteria
applicable for that year to any award to a named executive officer of the Company, within the meaning of Section&nbsp;402(a)(3) of Regulation&nbsp;S-K promulgated by the Securities and Exchange Commission; or (B)&nbsp;in the event the Company has
not established an executive bonus plan with performance goals covering the year in which the Date of Termination occurs, a pro-rata portion of the bonus earned by the Executive (pursuant to <U>Section&nbsp;3.2</U> of this Agreement with respect to
the 2014 calendar year and pursuant to <U>Section&nbsp;3.3</U> of this Agreement with respect to any other calendar year) for the year prior to the year in which the Date of Termination occurs (determined by multiplying the amount of the bonus
earned by the Executive for the year prior to the year in which the Date of Termination occurs by a fraction, the numerator of which is the number of days that the Executive was employed by the Company in the year in which the Date of Termination
occurs and the denominator of which is 365). If payable under (A), the Pro-Rata Bonus shall be payable in due course pursuant to the terms of the applicable bonus programs and if payable under (B), the Pro-Bonus shall be payable within thirty
(30)&nbsp;days following the Date of Termination; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(vii)</TD>
<TD ALIGN="left" VALIGN="top">subject to (A)&nbsp;the Executive&#146;s (or in the event of the Executive&#146;s death, his dependent&#146;s) timely election of continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985,
as amended (&#147;<B><I>COBRA</I></B>&#148;), and (B)&nbsp;the Executive&#146;s (or in the event of the Executive&#146;s death, his dependent&#146;s) continued copayment of premiums at the same level and cost to the Executive as if the Executive
were an employee of the Company (excluding, for purposes of calculating cost, an employee&#146;s ability to pay premiums with pre-tax dollars), continued participation in the Company&#146;s group health plan (to the extent permitted under applicable
law and the terms of such plan) which covers the Executive (and the Executive&#146;s eligible dependents, as the case may be) for a period of eighteen (18)&nbsp;months at the Company&#146;s expense, <U>provided</U> that the Executive (or eligible
dependent) is eligible and remains eligible for COBRA coverage; and <U>provided</U>, <U>further</U>, that in the event that the Executive obtains other employment that offers group health benefits, such continuation of coverage by the Company shall
immediately cease (the benefits and conditions specified in this <U>Section&nbsp;8.4(a)(vii)</U>, &#147;<B><I>Medical Continuation Benefits</I></B>&#148;); and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(viii)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt">in the event a Change in Control shall not have theretofore occurred, notwithstanding anything to the contrary contained
</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">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="17%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
herein or in the vesting and exercisability schedule in any stock option or other grant agreement between the Company and the Executive, all of the Executive&#146;s then outstanding stock options
and other equity awards, if any, granted by the Company to the Executive pursuant to any such agreement shall, to the extent not already vested, vest in their entirety and, as applicable, become immediately and automatically exercisable commencing
on the Date of Termination, with such options and awards remaining exercisable for the lesser of the original option term or twelve (12)&nbsp;months from the date of the Executive&#146;s death. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination Due to Disability.</U> If the Executive&#146;s employment is terminated by the Company due to his Disability during the Employment Period, the Company shall pay or provide to the Executive within 30 days
following the Date of Termination (except as otherwise provided in this <U>Section&nbsp;8.4(b)</U>): </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">the Amounts and Benefits; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">the Prior Year Bonuses; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">the Pro-Rata Bonus; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top">the Medical Continuation Benefits; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top">in the event a Change in Control shall not have theretofore occurred, notwithstanding anything to the contrary contained herein or in the vesting and exercisability schedule in any stock option or other grant agreement
between the Company and the Executive, all of the Executive&#146;s then outstanding stock options and other equity awards, if any, granted by the Company to the Executive pursuant to any such agreement shall, to the extent not already vested, vest
in their entirety and, as applicable, become immediately and automatically exercisable commencing on the Date of Termination. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination for Cause or without Good Reason</U>. If the Executive&#146;s employment is terminated by the Company for Cause or by the Executive without Good Reason during the Employment Period, the Executive shall
receive from the Company the Amounts and Benefits within thirty (30)&nbsp;days of the Date of Termination, the Executive&#146;s <FONT STYLE="white-space:nowrap">non-vested</FONT> stock options and other non-vested equity awards shall be immediately
and automatically forfeited (except as provided otherwise in Section&nbsp;4.3(a) hereof), the Executive shall be entitled to exercise any of his vested options and other vested equity awards within the sixty (60)&nbsp;consecutive day period
immediately following the termination of the Executive&#146;s employment (but not after the original option term), and retain his other vested equity awards, and the Company shall have no further obligation with respect to this Agreement other than
as provided in <U>Section&nbsp;10</U> below. </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">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination without Cause or for Good Reason (Salary Continuation)</U>. If the Executive terminates his employment under this Agreement for Good Reason or the Company terminates the Executive&#146;s employment
hereunder without Cause (other than a termination by reason of death or Disability) during the Employment Period, and the Executive has not received and is not entitled to any payment under <U>Section&nbsp;8.4(f)</U> hereof, then the Company will
continue to pay the Executive&#146;s Base Salary for the remainder of the two year period beginning on the Hire Date (the &#147;<B><I>Salary Continuation Payment</I></B>&#148;), payable based on the Company&#146;s regular payroll, subject to receipt
by the Company of a release executed by the Executive pursuant to and in accordance with <U>Section&nbsp;8.5</U> hereof. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination without Cause or for Good Reason (Additional Severance)</U>. If the Executive terminates his employment under this Agreement for Good Reason or the Company terminates the Executive&#146;s employment
hereunder without Cause (other than a termination by reason of death or Disability) during the Employment Period, and the Executive has not received and is not entitled to any payment under <U>Sections 8.4(f)</U> or <U>(g)</U>&nbsp;hereof, then in
addition to the Company paying to the Executive the Salary Continuation Payments pursuant to <U>Section&nbsp;8.4(d)</U> above, the Company shall pay or provide the Executive within 30 days following the Date of Termination (except as otherwise
provided in this <U>Section&nbsp;8.4(e)</U>): </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">the Amounts and Benefits; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">an amount equal to the sum of all applicable Base Salary for the balance of the Employment Period determined as if such termination had not occurred, less the aggregate amount payable to the Executive, if any, pursuant
to <U>Section&nbsp;8.4(d)</U>; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">the Prior Year Bonuses; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top">the Pro-Rata Bonus; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top">the Medical Continuation Benefits; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(vi)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt">in the event a Change in Control shall not have theretofore occurred, and the Company has terminated the Executive&#146;s employment under this
Agreement without Cause or the Executive has terminated his employment under this Agreement for Good Reason, notwithstanding anything to the contrary contained herein or in the vesting and exercisability schedule in any stock option or other grant
agreement between the Company and the Executive, all of the Executive&#146;s then outstanding stock options and other equity awards, if any, granted by the Company to the Executive pursuant
</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">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
to any such agreement shall, to the extent not already vested, vest in their entirety and, as applicable, become immediately and automatically exercisable commencing on the Date of Termination,
and the Executive shall be entitled to exercise any of his vested options within the sixty (60)&nbsp;consecutive day period immediately following the Date of Termination (but not after the original option term). </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination Following a Change in Control (First 24 Months)</U>. If the Executive terminates his employment under this Agreement for Good Reason or the Company terminates the Executive&#146;s employment hereunder
without Cause (other than a termination by reason of death or Disability) within 24 months after a Change in Control (defined below in this <U>Section&nbsp;8.4(f)</U>), then the Company shall pay to the Executive, in cash, in two equal payments, on
the Payment Dates (defined below in this <U>Section&nbsp;8.4(f)</U>), the total amount of 2.9 times the Executive&#146;s Base Amount (defined below in this <U>Section&nbsp;8.4(f)</U>) (the &#147;<B><I>Change in Control Payment</I></B>&#148;),
subject to receipt by the Company of a release executed by the Executive pursuant to and in accordance with <U>Section&nbsp;8.5</U> hereof. For the purpose of this Agreement, the &#147;<B><I>Executive&#146;s Base Amount</I></B>&#148; shall mean the
average annual gross compensation (salary and bonus) paid by the Company to the Executive and includible in the Executive&#146;s gross income during the period consisting of the most recent five taxable years ending before the Change in Control;
provided, however, that if the Executive has been employed by the Company for less than such five year period immediately preceding the Change in Control, then the &#147;<B><I>Executive&#146;s Base Amount</I></B>&#148; shall be the average annual
gross compensation (salary and bonus) paid by the Company to the Executive and includible in the Executive&#146;s gross income during the most recent number of taxable years ending before the Change in Control that the Executive was employed by the
Company. For purposes of this Agreement, &#147;<B><I>Payment Dates</I></B>&#148; shall be the Date of Termination and the day that is one calendar year following the Date of Termination. In addition to the foregoing and subject to the limitations
set forth in Section&nbsp;11.4 of this Agreement, upon a termination of the Executive&#146;s employment as set forth above, the Executive shall be entitled to receive the payments in the amounts contemplated by, and on the dates specified with
respect to, <U>Sections 8.4(e)(i)</U>, <U>(iii)</U>, <U>(iv)</U>&nbsp;and <U>(v)</U>. Further, in the event of a Change in Control and the Executive&#146;s employment with the Company is terminated for any reason (other than by the Company for
Cause) within 24 months after the date of such Change in Control, all of the Executive&#146;s stock options and other equity awards, if any, granted by the Company to the Executive shall, to the extent not already vested, vest in their entirety and
become immediately exercisable pursuant to <U>Section&nbsp;4.3</U> hereof. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(g)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Termination Following a Change in Control (25-36 Months)</U>. If the Executive terminates his employment under this Agreement for Good
</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">12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
Reason or the Company terminates the Executive&#146;s employment hereunder without Cause (other than a termination by reason of death or Disability) during the period beginning with the 25<SUP
STYLE="font-size:85%; vertical-align:top">th</SUP> month after a Change in Control and ending upon the expiration of the 36<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> month after a Change in Control, then the Company shall pay to the
Executive, in a lump sum cash payment, within 30 days after the Date of Termination, the total amount of the Change in Control Payment, subject to receipt by the Company of a release executed by the Executive pursuant to and in accordance with
<U>Section&nbsp;8.5</U> hereof. In addition to the foregoing and subject to the limitations set forth in Section&nbsp;11.4 of this Agreement, upon a termination of the Executive&#146;s employment as set forth above, the Executive shall be entitled
to receive the payments in the amounts contemplated by, and on the dates specified with respect to, <U>Sections 8.4(e)(i), (iii)</U>, <U>(iv)</U>&nbsp;and <U>(v)</U>. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(h)</TD>
<TD ALIGN="left" VALIGN="top"><U>Change in Control</U>. For purposes of this Agreement, a &#147;<B><I>Change in Control</I></B>&#148; means any of the following events occurring during the Change in Control Period: </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">individuals who, as of April&nbsp;1, 2015, constitute the Board (the &#147;<B><I>Incumbent Board</I></B>&#148;) cease for any reason to constitute at least a majority of the Board; provided, however, that any person
becoming a director subsequent to April&nbsp;1, 2015, whose election, or nomination for election by the Company&#146;s shareholders, was approved by a vote of at least a majority of the directors comprising the Incumbent Board (other than an
election or nomination of an individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the directors of the Company, or other actual or threatened solicitation of proxies
by or on behalf of an individual, entity or group other than the Board relating to the election of the directors of the Company) shall be deemed to be, for purposes of this Agreement, a member of the Incumbent Board; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">the date that any one person, or more than one person acting as a group (as defined in Treas. Regs. Section&nbsp;1.409A-3), acquires ownership of stock of the Company that, together with stock held by such person or
group, constitutes more than fifty percent (50%)&nbsp;of the total fair market value or total voting power of the stock of the Company; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">the date any one person, or more than one person acting as a group (as defined in Treas. Regs. <FONT STYLE="white-space:nowrap">Section&nbsp;1.409A-3),</FONT> acquires (or has acquired during the 12-month period ending
on the date of the most recent acquisition by such person or persons) ownership of stock of the Company possessing thirty percent (30%)&nbsp;or more of the total voting power of the stock of the Company, other than the acquisition by
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">any Person or group, which as of the date hereof has such ownership; or</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="18%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">any of the Golsen Group (as defined below). </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">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">For the purposes of this Agreement, the term &#147;<B><I>Golsen Group</I></B>&#148; shall
mean:</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Jack E. Golsen; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top">the spouse of Jack E. Golsen; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top">Barry H. Golsen, Steven J. Golsen and Linda Golsen Rappaport, who are the children of Jack E. Golsen, or any spouse of such children; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top">any estate of, or the executor or administrator of any estate of, or any guardian or custodian for, any Person described in subparagraphs (1), (2), or (3), above, so long as such executor, administrator, guardian or
custodian is acting only in his, her or its capacity as such; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top">any corporation, trust (including any voting trust), general partnership, limited partnership, limited liability company, organization or other entity (whether now existing or hereafter formed) of which at least 80% of
the outstanding beneficial voting or equity interest are beneficially owned, directly or indirectly, either (i)&nbsp;by one or more of the Persons described in subparagraphs (1), (2), (3), or (4), above, or (ii)&nbsp;by any combination of one or
more of the Persons described in subparagraphs (1), (2), (3), or (4), above; and, </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(6)</TD>
<TD ALIGN="left" VALIGN="top">any other Person (i)&nbsp;who or which is or becomes an Affiliate or Associate of any Person described in subparagraph (1), (2), (3), (4), or (5), above, or (ii)&nbsp;of which any Person described in subparagraph (1),
(2), (3), (4), or (5), above, is or becomes an Affiliate or Associate; provided, however, in either case (i)&nbsp;or case (ii)&nbsp;of this subparagraph (6), such other Person is not the Beneficial Owner of 5% or more of the shares of Common Stock
of the Company then outstanding (for purposes of determining the number of shares of Common Stock of the Company of which such other Person is the Beneficial Owner under this subparagraph (6), such other Person shall not be deemed to beneficially
own shares of any Person described in subparagraphs (1), (2), (3), (4), or (5), above, solely by reason of an Affiliate or Associate relationship of the kind described in (i)&nbsp;or (ii)&nbsp;above in this subparagraph (6)). </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">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:14%; font-size:10pt; font-family:Times New Roman"><B><I></I></B>For the purposes of this Agreement, the term &#147;<B><I>Person</I></B>&#148;
shall mean any individual, firm, corporation or other entity, and shall include any successor (by merger or otherwise) of such entity. The terms &#147;<B><I>Affiliate</I></B>&#148; and &#147;<B><I>Associate</I></B>&#148; shall have the respective
meanings ascribed to such terms in Rule 12b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934, as amended (the term &#147;registrant&#148; in the definition of &#147;Associate&#148; meaning, in this case, the
Company).<B><I> </I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"><U>Payments of Compensation Upon Termination</U>. For the avoidance of doubt, in the event the Executive shall be entitled to receive payments and benefits pursuant to any one of <U>Sections 8.4(a)</U>, <U>(b)</U>,
<U>(c)</U>, <U>(d)</U>, <U>(e)</U>, <U>(f)</U>, or <U>(g)</U>&nbsp;above, he shall be entitled to no payments or benefits under any other of such Sections, except as expressly provided otherwise in this Agreement. Notwithstanding any provision to
the contrary contained in this <U>Section&nbsp;8.4</U>, if any bonus amount is based in whole or in part on the results of the audit by the Company&#146;s independent public accountants of the Company&#146;s financial statements for a calendar year,
and such amount cannot be paid within the applicable thirty (30)&nbsp;day period provided for herein, then such amount shall be paid no later of March&nbsp;15 of the calendar year immediately following the calendar year to which it relates.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.5</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Release</U>. The Company&#146;s obligation to pay Executive the Salary Continuation Payment (Section 8.4(d) and the Change in Control Payment
(<U>Section 8.4(f) or 8.4(g)</U>), shall be subject to the Executive executing a release of claims against the Company before the end of the Release Expiration Date (defined below) and provided further that nothing contained in such release shall
constitute a release of the Company from any obligations it may have to the Executive (a)&nbsp;under this Agreement or any other written agreement between the Executive and the Company in effect as of the Date of Termination; (b)&nbsp;relating to
any employee benefit plan, stock option plan, stock option agreement or ownership of the Company&#146;s stock or debt securities; or (c)&nbsp;relating to any rights of indemnification and/or defense under the Company&#146;s certificate of
incorporation, bylaws, or coverage under officers and directors insurance. The Company will deliver such release to Executive pursuant to and in accordance with the terms of this <U>Section&nbsp;8.5</U> within ten (10)&nbsp;business days following
the date on which such termination of employment constitutes a separation of service under the terms of this Agreement, and the Company&#146;s failure to deliver such release prior to the expiration of such ten (10)&nbsp;business day period shall
constitute a waiver of any requirement to execute such release. Assuming timely delivery of the release by the Company, if the release is pursuant to and in accordance with this Section&nbsp;8.5, and Executive fails to execute such release on or
prior to the Release Expiration Date, Executive will not be entitled to any severance payments or benefits otherwise subject to the release condition. In any case where the date of the separation from service and the Release Expiration Date fall in
two separate taxable years, any payments required to be made to Executive that are subject to the release condition and are treated as nonqualified deferred compensation for purposes of Section&nbsp;409A shall be made in the later taxable year. The
term &#147;<B><I>Release Expiration Date</I></B>&#148; shall </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">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
mean the date that is twenty-one (21)&nbsp;days following the date upon which the Company timely delivers to Executive the release contemplated above, or in the event that Executive&#146;s
separation from service is &#147;in connection with an exit incentive or other employment termination program&#148; (as such phrase is defined in the Age Discrimination in Employment Act of 1967), the date that is forty-five (45)&nbsp;days following
such delivery. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.6</TD>
<TD ALIGN="left" VALIGN="top"><U>No Duty to Mitigate</U>. The Executive shall not be required to mitigate the amount of any payment provided for in this <U>Section&nbsp;8</U> by seeking other employment or otherwise, nor shall the amount of any
payment provided for in this <U>Section&nbsp;8</U> be reduced by any compensation earned by the Executive as the result of the Executive&#146;s employment by another employer or business or by profits earned by the Executive from any other source at
any time before and after the Executive&#146;s date of termination. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I></I></B>9.
<B><I></I></B><B><U>Confidentiality</U>.</B><B><I></I></B> The Executive&#146;s obligations and responsibilities with respect to the confidential information of the Company are set forth in and governed by the Confidentiality and Assignment
Agreement between the Company and the Executive executed by the parties on the Hire Date (&#147;<B><I>2014 Confidentiality and Assignment Agreement</I></B>&#148;), as may be amended, modified, or superseded by the parties thereto from time to
time.<B><I> </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B></B>10. <B><U>Indemnification</U>.</B> The Company shall indemnify and hold harmless the Executive against any and all expenses
reasonably incurred by him in connection with or arising out of (a)&nbsp;the defense of any action, suit or proceeding in which he is a party, or (b)&nbsp;any claim asserted or threatened against him, in either case by reason of or relating to his
being or having been an employee, officer or director of the Company or a subsidiary of the Company, whether or not he continues to be such an employee, officer or director at the time of incurring such expenses, except insofar as such
indemnification is prohibited by law. Such expenses shall include, without limitation, the fees and disbursements of attorneys, amounts of judgments and amounts of any settlements, provided that such expenses are agreed to in advance by the Company.
The foregoing indemnification obligation is independent of any similar obligation provided in the Company&#146;s certificate of incorporation or bylaws, and shall apply with respect to any matters attributable to periods prior to the date of this
Agreement, and to matters attributable to the Executive&#146;s employment hereunder, without regard to when asserted. In no event shall the Company be liable for the fees and expenses of more than one counsel (in addition to any local counsel)
separate from its own counsel, and the Company will not indemnify the Executive for the fees or expenses of the Executive&#146;s counsel in connection with any claim which is being defended by counsel appointed by the Company or the Company&#146;s
insurance carrier; provided, however, that if the Executive shall have reasonably concluded (based on the advice of counsel) that there is a conflict of interest between the Company and the Executive for counsel appointed by the Company or the
Company&#146;s insurance carrier that would prohibit the counsel retained by the Company or its insurance carrier from representing the Executive, the Company shall reimburse the Executive for the reasonable fees and expenses of one
(1)&nbsp;separate counsel for the Executive in connection with such claims, subject to the limitations set forth above in this <U>Section&nbsp;10</U>. <B> </B></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">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B></B>11. <B><U>Section&nbsp;409A and Section&nbsp;280G of the Code</U>. </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.1</TD>
<TD ALIGN="left" VALIGN="top"><U>Compliance with Section&nbsp;409A</U>. It is intended that the provisions of this Agreement comply with or be excepted from Section&nbsp;409A, as applicable, and all provisions of this Agreement shall be construed in
a manner consistent with the requirements for avoiding taxes or penalties under Section&nbsp;409A. If any provision of this Agreement (or of any award of compensation, including equity compensation or benefits) would cause the Executive to incur any
additional tax or interest under Section&nbsp;409A, the Company shall, upon the specific request of the Executive, use its reasonable business efforts to in good faith reform such provision to comply with Section&nbsp;409A; <U>provided</U>, that to
the maximum extent practicable, the original intent and economic benefit to the Executive and the Company of the applicable provision shall be maintained, but the Company shall have no obligation to make any changes that could create any additional
economic cost or loss of benefit to the Company. The Company shall timely use its reasonable business efforts to amend any plan or program in which the Executive participates to bring it in compliance with Section&nbsp;409A to the extent such
compliance is required. Notwithstanding the foregoing, the Company shall have no liability with regard to any failure to comply with Section&nbsp;409A so long as it has acted in good faith with regard to compliance therewith. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B><I></I></B>11.2</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Separation From Service</U>. A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement
providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a &#147;<B><I>Separation from Service</I></B>&#148; within the meaning of Section&nbsp;409A and, for purposes of any
such provision of this Agreement, references to a &#147;resignation,&#148; &#147;termination,&#148; &#147;termination of employment&#148; or like terms shall mean Separation from Service. If the Executive is deemed on the date of termination of his
employment to be a &#147;<B><I>specified employee</I></B>&#148;, within the meaning of that term under Section&nbsp;409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time, or if none, the default
methodology, then with regard to any payment, the providing of any benefit or any distribution of equity made subject to this Section to the extent required to be delayed in compliance with Section&nbsp;409A(a)(2)(B) of the Code, and any other
payment, the provision of any other benefit or any other distribution of equity that is required to be delayed in compliance with Section&nbsp;409A(a)(2)(B) of the Code, such payment, benefit or distribution shall not be made or provided prior to
the earlier of (i)&nbsp;the expiration of the six-month period measured from the date of the Executive&#146;s Separation from Service or (ii)&nbsp;the date of the Executive&#146;s death. On the first day of the seventh month following the date of
the Executive&#146;s Separation from Service or, if earlier, on the date of his death, (x)&nbsp;all payments delayed pursuant to this Section (whether they would have otherwise been payable in a single sum or in installments in the absence of such
delay) shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein and (y)&nbsp;all
distributions of equity delayed pursuant to <B><I> </I></B></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">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I>
</I></B>this <U>Section&nbsp;11</U> shall be made to the Executive. In addition to the foregoing, to the extent required by Section&nbsp;409A(a)(2)(B) of the Code, prior to the occurrence of a
Disability termination as provided in this Agreement, the payment of any compensation to the Executive under this Agreement shall be suspended for a period of six months commencing at such time that the Executive shall be deemed to have had a
Separation from Service because either (A)&nbsp;a sick leave ceases to be a bona fide sick leave of absence, or (B)&nbsp;the permitted time period for a sick leave of absence expires (an &#147;<B><I>SFS Disability</I></B>&#148;), without regard to
whether such SFS Disability actually results in a Disability termination. Promptly following the expiration of such six-month period, all compensation suspended pursuant to the foregoing sentence (whether it would have otherwise been payable in a
single sum or in installments in the absence of such suspension) shall be paid or reimbursed to the Executive in a lump sum. On any delayed payment date under this Section there shall be paid to the Executive or, if the Executive has died, to his
estate, in a single cash lump sum together with the payment of such delayed payment, interest on the aggregate amount of such delayed payment at the Delayed Payment Interest Rate (defined below in this <U>Section&nbsp;11.2</U>) computed from the
date on which such delayed payment otherwise would have been made to the Executive until the date paid. For purposes of the foregoing, the &#147;<B><I>Delayed Payment Interest Rate</I></B>&#148; shall mean the short term applicable federal rate
provided for in Section&nbsp;1274(d) of the Code as of the business day immediately preceding the payment date for the applicable delayed payment. To the extent that th<B><I></I></B><B>is</B><B><I></I></B> Agreement provides for any payments of
nonqualified deferred compensation (within the meaning of Section&nbsp;409A) to be made in installments (including, without limitation, any severance payments), each such installment shall be deemed to be a separate and distinct payment for purposes
of Section&nbsp;409A<B><I></I></B><B>.</B><B><I> </I></B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.3</TD>
<TD ALIGN="left" VALIGN="top"><U>Reimbursement Provisions</U>. With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Section&nbsp;409A, (i)&nbsp;the right to
reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii)&nbsp;the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses
eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, <U>provided</U> that the foregoing clause (ii)&nbsp;shall not be violated with regard to expenses reimbursed under any arrangement covered by
Section&nbsp;105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect and (iii)&nbsp;such payments shall be made on or before the last day of the Executive&#146;s taxable year
following the taxable year in which the expense was incurred. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.4</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>280G Parachute Payments</U>. In the event that any payments or benefits (whether made or provided pursuant to this Agreement or otherwise) provided
to Executive constitute &#147;parachute payments&#148;&#146; within the meaning of Section&nbsp;280G of the Code (&#147;<B><I>Parachute Payments</I></B>&#148;), and will be subject to an excise tax imposed pursuant to Section&nbsp;4999 of the Code,
the Executive&#146;s Parachute Payments will be reduced to an amount determined by the Company in good faith to be the maximum amount that may be provided to the Executive without resulting in any
</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">18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I>
</I></B>portion of such Parachute Payments being subject to such excise tax (the amount of such reduction, &#147;<B><I>Cutback Benefits</I></B>&#148;). The Parachute Payment reduction
contemplated by the preceding sentence, if applicable, shall be implemented by determining the &#147;Parachute Payment Ratio&#148; (as defined below) for each Parachute Payment and then reducing the Parachute Payment in order beginning with the
Parachute Payment with the highest Parachute Payment Ratio. For Parachute Payments with the same Parachute Payment Ratio, such Parachute Payments shall be reduced based on the time of payment of such Parachute Payments, with amounts having later
payment dates being reduced first. For Parachute Payments with the same Parachute Payment Ratio and the same time of payment, such Parachute Payments shall be reduced on a pro rata basis (but not below zero) prior to reducing Parachute Payments with
a lower Parachute Payment Ratio. For purposes hereof, the term &#147;<B><I>Parachute Payment Ratio</I></B>&#148; shall mean a fraction the numerator of which is the value of the applicable Parachute Payment for purposes of Section&nbsp;280G of the
Code and the denominator of which is the intrinsic value of such Parachute Payment.<B><I> </I></B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.5</TD>
<TD ALIGN="left" VALIGN="top"><U>Dodd-Frank Requirement</U>.&nbsp;Notwithstanding any provision of this Agreement to the contrary, Executive acknowledges that any incentive-based compensation paid to Executive pursuant hereto may be subject to
recovery by the Company under any generally applicable clawback policy which is adopted, as required under Section&nbsp;954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the rules and regulations of the United States
Securities and Exchange Commission thereunder or the requirements of any national securities exchange on which the Company&#146;s common stock may be traded. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B></B>12. <B><U>Miscellaneous</U>. </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.1</TD>
<TD ALIGN="left" VALIGN="top"><U>Governing Law</U>. This Agreement shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed by and construed in accordance with those laws, without reference
to principles of conflict of laws. The Company and the Executive unconditionally consent to submit to the exclusive jurisdiction of any state or federal court located in Oklahoma County, State of Oklahoma for any actions, suits or proceedings
arising out of or relating to this Agreement and the transactions contemplated hereby (and agree not to commence any action, suit or proceeding relating thereto except in such courts), and further agree that service of any process, summons, notice
or document by registered mail to the address set forth below shall be effective service of process for any action, suit or proceeding brought against the Company or the Executive, as the case may be, in any such court. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.2</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>No Assignment</U>. The Executive may not delegate his duties or assign his rights hereunder. No rights or obligations of the Company under this
Agreement may be assigned or transferred by the Company other than pursuant to a merger or consolidation in which the Company is not the continuing entity, or a sale, liquidation or other disposition of all or substantially all of the assets of the
Company. For the purposes of this Agreement, the term &#147;<B><I>Company</I></B>&#148; shall include </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">19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
the Company and, subject to the foregoing, any of its successors and assigns. This Agreement shall inure to the benefit of, and be binding upon, the parties hereto and their respective heirs,
legal representatives, successors and permitted assigns. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.3</TD>
<TD ALIGN="left" VALIGN="top"><U>Severable</U>. The invalidity or unenforceability of any provision hereof shall not in any way affect the validity or enforceability of any other provision. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.4</TD>
<TD ALIGN="left" VALIGN="top"><U>Entire Understanding</U>. This Agreement supersedes any and all other agreements, either oral or in writing, between the parties hereto with respect to the employment of the Executive by the Company and contains all
of the covenants and agreements between the parties with respect to such employment in any manner whatsoever, it being acknowledged and agreed by the parties, however, that (a)&nbsp;the Letter Agreement shall, except as superseded by the express
terms of this Agreement, remain in effect until the Promotion Effective Date, at which time it shall terminate and become null and void and (b)&nbsp;the Severance Agreement shall terminate and become null and void effective as of the Effective Date.
Any modification or termination of this Agreement will be effective only if it is in writing signed by the party to be charged. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.5</TD>
<TD ALIGN="left" VALIGN="top"><U>Amendment to 2014 Confidentiality and Assignment Agreement</U>. Section&nbsp;15 of the 2014 Confidentiality and Assignment Agreement, between the Company and the Executive is hereby deleted in its entirety and
replaced with the following: </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#147;15. Termination of Employment. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I></I></B>I understand and agree that I or the Company may terminate my employment pursuant to the terms of the Employment
Agreement, dated April&nbsp;27, 2015, between me and the Company (&#147;<B><I>Employment Agreement</I></B>&#148;) and that this Confidentiality Agreement shall in no way be construed or operate to change or modify the Employment Agreement or to
prevent the Company or me from dispensing with my services pursuant to the terms of the Employment Agreement.&#148;<B><I> </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">All of
the terms and conditions of the Confidentiality Agreement, as amended by this Section&nbsp;12.5, shall remain in full force and effect. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.6</TD>
<TD ALIGN="left" VALIGN="top"><U>Amendment to 2014 NQSO</U>. The Non-Qualified Stock Option Agreement, effective March&nbsp;3, 2014, by and between the Company and the Executive, for the purchase of up to 150,000 shares of the Company&#146;s common
stock (the &#147;2014 NQSO&#148;) is hereby amended by (a)&nbsp;changing the heading of Section&nbsp;4.3(d) thereof from &#147;<U>Change of Control</U>&#148; to &#147;<U>Change in Control</U>&#148; and (b)&nbsp;deleting from Section&nbsp;4.3(d)
thereof the phrase &#147;a Change of Control (as defined in the Severance Agreement, dated as of the Grant Date, between the Company and Participant (the &#147;Severance Agreement&#148;))&#148; and inserting the following phrase in lieu thereof:
</TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#147;a Change in Control (as defined in the Employment Agreement, dated April&nbsp;27, 2015, between the Company and
Participant)&#148; </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">20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">All of the terms and conditions of the 2014 NQSO, as amended by this Section&nbsp;12.6, shall
remain in full force and effect. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.7</TD>
<TD ALIGN="left" VALIGN="top"><U>Counterparts</U>. This Agreement may be executed by the parties in one or more counterparts, each of which shall be deemed to be an original but all of which taken together shall constitute one and the same
agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and delivered to each of the other parties hereto. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.8</TD>
<TD ALIGN="left" VALIGN="top"><U>Mutual Non-Disparagement</U>.&nbsp;Subject to applicable law, the Executive covenants and agrees that the Executive shall not in any way publicly disparage, call into disrepute, or otherwise defame or slander the
Company or any of its subsidiaries, in any manner that would materially damage the business or reputation of the Company or its subsidiaries. The Company covenants and agrees, on behalf of itself and its subsidiaries, that neither the Company, any
of its subsidiaries nor any of the officers or directors of the Company or any of its subsidiaries shall in any way publicly disparage, call into disrepute, or otherwise defame or slander the Executive.&nbsp;Nothing in this <U>Section&nbsp;12.8</U>
shall preclude or restrict the Executive or the Company or any of the subsidiaries of the Company from making truthful statements, including, without limitation, those that are required by applicable law, regulation or in connection with a legal
process or proceeding, and the making of such statements shall not be a violation of this subsection. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.9</TD>
<TD ALIGN="left" VALIGN="top"><U>Confidential Information and Certain Restrictive Covenants</U> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">12.9.1</TD>
<TD ALIGN="left" VALIGN="top"><U>No Disclosure</U>. Subject to the terms of this <U>Section&nbsp;12.9</U>, during the Restricted Period (as defined below), the Executive agrees to hold in confidence and not disclose any and all proprietary, secret
or confidential information (&#147;Confidential Information&#148;) relating to the Company or the Company&#146;s subsidiaries, which shall have been obtained by the Executive during the Executive&#146;s employment by the Company. Confidential
Information is defined as the proprietary, client or business information of the Company, written or in a physical embodiment, including, but not limited to, customer lists, employee lists, financial information, pricing data, sales data, marketing
data, or business plans or proposals. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">12.9.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Exception</U>. Notwithstanding the provisions of <U>Section&nbsp;12.9.1</U> above, the Executive shall not be held liable for disclosure of information which was in the public domain, or is readily available to the
public at the time of its disclosure by the Executive through means unrelated to Executive&#146;s disclosure, or is required to be disclosed in, or in connection with, a legal proceeding or process or is required to be disclosed by law, rule or
regulation. </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">21 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><U>12.9.3</U></TD>
<TD ALIGN="left" VALIGN="top"><U>Other Restrictive Covenant</U>. Subject to the terms hereof, the Executive agrees that during the Restricted Period he will not, by or for himself, or as an agent, representative or employee of another, do or attempt
to solicit, entice, persuade or induce any individual who is employed by the Company or its subsidiaries (or was so employed within 90 days prior to the Executive&#146;s action) to terminate or refrain from renewing or extending such employment or
to become employed by or enter into contractual relations with any other individual or entity other than the Company or its subsidiaries. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><U>12.9.4</U></TD>
<TD ALIGN="left" VALIGN="top"><U>Restricted Period</U>. &#147;Restricted Period&#148; is the 12-month period after the date of termination of the Executive&#146;s employment with the Company. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">12.9.5</TD>
<TD ALIGN="left" VALIGN="top"><U>Confidentiality and Assignment Agreement</U>. If any of the restrictions provided in this <U>Section&nbsp;12.9</U> are contrary to the requirements or limitations contained in the 2014 Confidentiality and Assignment
Agreement, the terms of this <U>Section&nbsp;12.9</U> shall be controlling. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B></B>13. <B><U>Notices</U>. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All notices relating to this Agreement shall be in writing and shall be either personally delivered, sent by telecopy (receipt confirmed) or
mailed by certified mail, return receipt requested, to be delivered at such address as is indicated below, or at such other address or to the attention of such other person as the recipient has specified by prior written notice to the sending party.
Notice shall be effective when so personally delivered, one business day after being sent by telecopy or five days after being mailed. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">To
the Company: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">LSB Industries, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">16 South Pennsylvania Avenue </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Post Office Box 754 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Oklahoma
City, OK 73107 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Attention: General Counsel </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">With copies in the same manner to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Conner&nbsp;&amp; Winters, LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">1700 One Leadership Square </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">211
North Robinson </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Oklahoma City, OK 73102-71012 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Attention: Irwin Steinhorn, Esq. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">To the Executive: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Mark T.
Behrman </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6208 Waterford Blvd, Unit 113 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Oklahoma City, OK 73118 </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">22 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">With a copy in the same manner to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Blank Rome LLP </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Chrysler
Building </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">405 Lexington Avenue </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">New York, New York 10174 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Attention: Robert Mittman, Esq. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have executed this agreement as of the 27<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> day of
April 2015. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>LSB Industries, Inc.:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>Executive:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Barry H. Golsen</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Mark T. Behrman</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Barry H. Golsen,</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Mark T. Behrman</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Chief Executive Officer</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></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">23 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXHIBIT &#147;A&#148; </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>MARK T. BEHRMAN </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EMPLOYMENT
AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">LSB INDUSTRIES, INC. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(2008 Stock Incentive Plan) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">NON-QUALIFIED </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>STOCK OPTION
AGREEMENT </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS NON-QUALIFIED STOCK OPTION AGREEMENT (this &#147;Agreement&#148;) is effective as of the Grant Date set forth in
paragraph 2 below, by and between LSB INDUSTRIES, INC., a Delaware corporation (the &#147;Company&#148;), and Participant named in paragraph 2 below and a signatory hereto. For valuable consideration, the Company and Participant agree as follows.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <U>Background</U>. Participant is an employee, officer or director of the Company or an Affiliate, whom the Compensation and Stock Option Committee of
the Board of Directors of the Company (the &#147;Committee&#148;) has selected to receive an award under the Company&#146;s 2008 Stock Incentive Plan (as may be amended from time to time, the &#147;Plan&#148;). The purpose of the award is to retain
and motivate Participant by providing Participant the opportunity to acquire a proprietary interest in the Company and to link Participant&#146;s interests and efforts to the long-term interests of the Company&#146;s shareholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. <U>Certain Defined Terms</U>. The following terms will have the meanings ascribed below: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="82%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Participant:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Mark T. Behrman</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Option&nbsp;Shares:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>50,000</B> shares of the Company&#146;s common</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">stock, par value $.10 per share</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exercise&nbsp;Price:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">[CLOSING PRICE ON LAST TRADING DAY BEFORE THE GRANT DATE] per share</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Grant&nbsp;Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">[June] [&nbsp;&nbsp;&nbsp;&nbsp;], 2015</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Expiration&nbsp;Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">[June] [&nbsp;&nbsp;&nbsp;&nbsp;], 2025</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. <U>Option Grant</U>. Subject to the terms of the Plan and of this Agreement, the Company hereby grants to Participant
the right and option (the &#147;Option&#148;) to purchase all or any portion of the Option Shares on or before the Expiration Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <U>Terms and
Conditions of the Option</U>. The Option will be subject to the terms and conditions of this Plan and the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.1</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Exercise of Option</U>. The Exercise Price is the price per share of common stock acquired upon exercise of the Option. The Option will be
exercisable as specified herein and in the Plan by written notice directed to the Company at its principal </P></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
place of business setting forth the exact number of Option Shares that Participant is purchasing. The Option will not be deemed to be exercised until the Exercise Price for the number of Option
Shares to be purchased is collected by the Company, and Participant has complied with such other reasonable requirements as the Committee may establish. Payment of the Exercise Price for the number of Option Shares to be acquired upon exercise of
the Option will be by (a)&nbsp;check or wire transfer, or (b)&nbsp;only if the date of notice of exercise is not within a &#147;blackout&#148; period or other period during which the Participant is prohibited under law or policies adopted by the
Company from trading in the Company&#146;s securities, by tendering by attestation shares of Common Stock already owned by the Participant that on the day prior to the exercise date have a Fair Market Value equal to the aggregate exercise price of
the shares being purchased under the Option, provided that the Participant must have held for at least six months any such tendered shares that were acquired by the Participant under a Company-sponsored stock compensation program. The Option may not
be exercised after the Expiration Date. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Vesting</U>. The Option will vest and be exercisable in six installments, based upon Participant&#146;s years of continuous employment with the Company or an Affiliate from the Grant Date, as follows:
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">the Option will vest as to, and be exercisable for the purchase of, 16.5% of the Option Shares after one year; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">the Option will vest as to, and be exercisable for the purchase of, an additional 16.5% of the Option Shares after two years; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">the Option will vest as to, and be exercisable for the purchase of, an additional 16.5% of the Option Shares after three years; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">the Option will vest as to, and be exercisable for the purchase of, an additional 16.5% of the Option Shares after four years; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top">the Option will vest as to, and be exercisable for the purchase of, an additional 16.5% of the Option Shares after five years; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top">the Option will vest as to, and be exercisable for the purchase of, 100% of the Option Shares after six years. </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Except as provided in paragraph 4.3 or 4.4 of this Agreement, the Committee will have the sole and absolute discretion to accelerate the time
when Participant will become entitled to exercise the Option. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.3</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Acceleration</U>. Notwithstanding anything to the contrary contained herein, in the event of (a)&nbsp;a Change in Control (as defined in the
Employment Agreement between the Participant and the Company dated as of April&nbsp;27, 2015 (the </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">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
&#147;Employment Agreement&#148;)) and the Participant&#146;s employment with the Company is terminated for any reason (other than by the Company for Cause) within 24 months after the date of
such Change in Control or (b)&nbsp;the Participant&#146;s Termination of Service (as defined in the Plan) pursuant to any of Sections 4.4 (a), (b)&nbsp;and (c)&nbsp;below, the Option shall vest in its entirety and become immediately and
automatically exercisable for the purchase of all of the Option Shares (to the extent not already exercised) commencing on the earlier to occur of (i)&nbsp;with respect to clause (a)&nbsp;above, the date of such termination of employment with the
Company after the date the Company incurs such Change in Control and (ii)&nbsp;with respect to clause (b)&nbsp;above, the applicable date of Termination of Service and in the manner (and to the extent) expressly set forth in Section&nbsp;4.4 with
respect to such Termination of Service. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.4</TD>
<TD ALIGN="left" VALIGN="top"><U>Exercise after Termination of Service</U>. The Option may not be exercised after a Termination of Service (as defined in the Plan), except as follows: </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"><U>Death</U>. If Participant dies prior to the termination of the Option, then, notwithstanding anything to the contrary contained herein, the Option shall vest in its entirety and become immediately and automatically
exercisable for the purchase of all of the Option Shares (to the extent not already exercised), commencing on the date of Participant&#146;s death, and may be exercised by the personal representative of Participant&#146;s estate, or by a person who
acquired the right to exercise the Option by bequest, inheritance, or by reason of the death of Participant, from time to time and in whole or in part, until the earlier of the Expiration Date and the first anniversary of the death of Participant;
provided that Participant died while an employee of the Company or an Affiliate. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"><U>Disability</U>. If the Termination of Service is on account of a Disability (as defined in the Plan), then, notwithstanding anything to the contrary contained herein, to the extent not already vested, the Option
shall vest in its entirety and become immediately and automatically exercisable for the purchase of all of the Option Shares (to the extent not already exercised), commencing on the date of Termination of Service, and may be exercised by the
Participant, from time to time and in whole or in part, until the earlier of the Expiration Date and the first anniversary of the date of Termination of Service. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Termination Without Cause or With Good Reason.</U> If the Termination of Service is a termination by the Company of the Participant&#146;s
employment without Cause (other than a Termination of Service by reason of Participant&#146;s death or Disability) or it is a result of Participant&#146;s resignation as a result of Good Reason (each of &#147;Cause&#148; and &#147;Good Reason&#148;
as defined in the Employment Agreement), then, notwithstanding anything to the contrary contained herein, to the extent not already vested, the Option shall vest in its entirety and become immediately and automatically exercisable for the purchase
of all of the Option Shares (to </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">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
the extent not already exercised), commencing on the date of Termination of Service, and may be exercised by the Participant, from time to time and in whole or in part, until the earlier of the
Expiration Date and the 60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> day following the date of Termination of Service. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination With Cause or Without Good Reason</U>. If the Termination of Service is a termination by the Company of the Participant&#146;s employment for &#147;Cause&#148; or by the Participant without Good Reason,
the Participant may exercise the Option for a period of sixty (60)&nbsp;days after the date of Termination of Service, but only as to the number of Option Shares that were vested as of the date of Participant&#146;s Termination of Service, except as
otherwise expressly provided in Section&nbsp;4.3(a). </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding any provision of this paragraph 4.4, the Option may not
be exercised after the Expiration Date. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.5</TD>
<TD ALIGN="left" VALIGN="top"><U>Investment Representation</U>. If Option Shares issued pursuant to the exercise of the Option are not subject to an effective registration statement under the Securities Act of 1933, as amended (the &#147;Securities
Act&#148;), Participant agrees to represent and warrant in writing at the time of any exercise of the Option or any portion thereof that the Option Shares are being purchased only for investment and without any present intention to sell or
distribute such shares, and further agrees that the certificate representing Option Shares so acquired may bear an appropriate legend and will be sold or transferred only in accordance with the rules and regulations of the Securities and Exchange
Commission (the &#147;SEC&#148;) or any applicable law, regulation, or rule of any governmental agency. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.6</TD>
<TD ALIGN="left" VALIGN="top"><U>Taxes</U>. Participant shall pay all original issue or transfer taxes and all other fees and expenses incident to the issue, transfer, or delivery of Option Shares. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.7</TD>
<TD ALIGN="left" VALIGN="top"><U>Not Assignable</U>. The Option or any interest in the Option may not be sold, assigned, pledged (as collateral for a loan or as security for the performance of an obligation or for any other purpose) or transferred
by Participant or made subject to attachment or similar proceedings otherwise than by will or by the applicable laws of descent and distribution, except that to the extent permitted by the Committee, in its sole discretion, a Participant may
designate on a Company-approved form one or more beneficiaries who may purchase Option Shares under the Option after Participant&#146;s death. During a Participant&#146;s lifetime, the Option may be exercised only by Participant. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.8</TD>
<TD ALIGN="left" VALIGN="top"><U>No Rights until Issue</U>. No right to vote or receive dividends or any other rights as a stockholder of the Company will exist with respect to the Option Shares, notwithstanding the exercise of the Option, until the
issuance to Participant of a stock certificate or certificates representing such shares. </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>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.9</TD>
<TD ALIGN="left" VALIGN="top"><U>Anti-dilution</U>. In the event of a stock dividend, stock split, spin-off, combination or exchange of shares, recapitalization, merger, consolidation, distribution to shareholders other than a normal cash dividend
or other change in the Company&#146;s corporate or capital structure, then the Committee shall make proportional adjustments in the Option and/or the Plan as described in the Plan. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.10</TD>
<TD ALIGN="left" VALIGN="top"><U>Delivery of Option Shares</U>. The Company will deliver the Option Shares to be acquired upon the exercise of the Option within a reasonable period following (a)&nbsp;the receipt of the written notice of exercise,
(b)&nbsp;collection of payment in full of the Exercise Price for such shares, and (c)&nbsp;Participant&#146;s payment of any tax withholding obligations in accordance with paragraph 6 of this Agreement. If any law, regulation or stock exchange
requires the Company to take any action with respect to such shares before the issuance thereof, then the date of delivery of such shares shall be extended for the period necessary to take such action. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. <U>The Plan</U>. Participant acknowledges receipt of a copy of the Plan and represents that Participant is familiar with the terms and provisions of the
Plan and hereby accepts the Option subject to all such terms and provisions. In addition to the definitions contained in this Agreement, certain words and phrases used in this Agreement may be defined in the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6. <U>Withholding</U>. Upon the exercise of an Option requiring tax withholding, Participant will be required to pay to the Company for remittance to the
appropriate taxing authorities an amount necessary to satisfy the employee&#146;s portion of federal, state and local taxes, if any, incurred by reason of the exercise of an Option. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7. <U>Employment</U>. Nothing in the Plan or in this Agreement shall confer upon Participant any right to continued employment as an employee of the Company
or interfere in any way with the right of the Company to terminate Participant&#146;s employment at any time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8. <U>Transferability of Shares</U>. If a
registration statement with respect to the issuance of Option Shares to Participant upon the exercise of the Option or any portion thereof is not in effect at the time of such issuance of Option Shares by the Company, at the time of the proposed
transfer of Option Shares, Participant shall not offer, sell, hypothecate, transfer or otherwise dispose of any of the Option Shares issued pursuant to the exercise of the Option or any portion thereof unless either (a)&nbsp;a registration statement
with respect to such Option Shares is then in effect under the Securities Act, and any applicable state securities laws, and such offer, sale, transfer or other disposition is accompanied by a prospectus relating to such registration statement and
meeting the requirements of the Securities Act; or (b)&nbsp;counsel satisfactory to the Company renders an opinion in writing, addressed to the Company and acceptable to the Company and its counsel, to the effect that, in the opinion of such
counsel, such proposed offer, sale, transfer or other disposition of such Option Shares is exempt from the provisions of Section&nbsp;5 of the Securities Act and the applicable state securities laws in view of the circumstances of such proposed
offer, sale, transfer or other disposition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9. <U>Binding Agreement</U>. This Agreement shall be binding upon and shall inure to the benefit of the
parties hereto and their respective heirs, executors, administrators, trustees, successors and assigns. </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">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[SIGNATURES APPEAR ON NEXT PAGE] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">EXECUTED as of the day and year first above written. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">LSB INDUSTRIES, INC., a Delaware corporation</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR></TABLE></DIV> <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="27%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="72%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">(the &#147;Company&#148;)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center"><I>Signature</I></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">Mark T. Behrman</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center"><I>Please print name</I></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">(&#147;Participant&#148;)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
</TABLE></DIV>
 <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">6 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.5
<SEQUENCE>7
<FILENAME>d918969dex995.htm
<DESCRIPTION>EX-99.5
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.5</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit&nbsp;99.5 </B></P> <P STYLE="margin-top:0pt;margin-bottom:0pt; text-indent:13%">


<IMG SRC="g918969ex99_5logo.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">16 SOUTH PENNSYLVANIA&nbsp;&nbsp;&#149;&nbsp;&nbsp;POST OFFICE BOX 754&nbsp;&nbsp;&#149;&nbsp;&nbsp;OKLAHOMA CITY, OK U.S.A.
73101&nbsp;&nbsp;&#149;&nbsp;&nbsp;PHONE 405-235-4546&nbsp;&nbsp;&#149;&nbsp;&nbsp;FAX 405-236-1209 </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February&nbsp;5, 2014 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mark T. Behrman </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">444 East 84<SUP
STYLE="font-size:85%; vertical-align:top">th</SUP> Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10028 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mark: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I am pleased to offer you employment at LSB
Industries, Inc. (&#147;LSB&#148; or &#147;the Company&#148;). The position offered is that of Senior Vice-President Business Development, reporting to me. This letter, the terms and issuance of which have been approved by the LSB Board of Directors
and all required committees of the Board, outlines the proposal to you of your employment with the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Your responsibilities will include, but not
be limited to, those duties outlined below. These responsibilities may be adjusted from time to time according to the needs of the Company and the duties assigned to you by the Board of Directors and with the CEO and President of the Company,
provided that they remain consistent with and in the reasonable scope of those outlined below and there is no material diminution in your duties or responsibilities from those outlined below. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Mergers and acquisitions &#150; in conjunction with guidance from other LSB management and LSB subsidiary management, the development and qualification of potential strategic acquisitions. Where appropriate, the due
diligence efforts required to complete acquisitions deemed appropriate by the Company. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">New business concept identification and development. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Investor relations and investment banking industry relations. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Participation in the LSB senior leadership team. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The start date for this position will be March&nbsp;3, 2014.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Base Salary: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The annualized rate of salary
offered, paid biweekly, is $300,000.00, less all amounts required to be withheld or deducted under applicable federal, state and local laws and regulations, and any amounts you elect to have deducted for benefits offered by the Company. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mark Behrman </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February&nbsp;5, 2014 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 2 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Incentive Compensation: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Calendar Year 2014 -
Unless (a)&nbsp;you are terminated by the Company for your violation of the Company&#146;s Code of Business Conduct or the Company&#146;s Confidentiality and Assignment Agreement (copies of each of which are attached hereto as Exhibits A and B,
respectively), your embezzlement of the Company&#146;s assets, or your conviction of a felony by a court of competent jurisdiction or (b)&nbsp;you voluntarily leave the Company for any reason other than because you are required to be based at an
office outside of Oklahoma City, Oklahoma, you are required to report to someone other than the Company&#146;s President or CEO, or there is a material diminution in either your authority, duties or responsibilities or the authority, duties or
responsibilities of the corporate officer to whom you are required to report, you will receive a minimum bonus of $150,000 for the calendar year 2014, which will be paid on the earlier date to occur of (i)&nbsp;the date in 2015 that bonuses are paid
to the Company&#146;s other management personnel for the 2014 calendar year and (ii)&nbsp;July&nbsp;1, 2015. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Calendar Year 2015 and beyond
&#150; Commencing with calendar year 2015, you will be considered by the Compensation and Stock Option Committee of the Board of Directors for an annual bonus each calendar year based upon your performance and the financial performance of the
Company using criteria consistent with the criteria used in determining bonuses for that particular calendar year for other members of the Company&#146;s senior leadership team. There is no guarantee, however, that in any such subsequent years a
bonus will be awarded. Further, in any such subsequent years, in order to be eligible for a bonus for any particular year, you must be employed on December&nbsp;31<SUP STYLE="font-size:85%; vertical-align:top">st</SUP> of that year and at the time
bonuses are distributed, generally in the middle of the following year but always prior to the last day of the following year (e.g. in order to be considered to receive a bonus for the 2015 calendar year you must be employed on December&nbsp;31,
2015 and when bonuses are paid, approximately mid-year 2016, but no later than December&nbsp;31, 2016). Once you are awarded a bonus, it will be paid to you at the time other management bonuses are paid for that bonus year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Stock Options: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Upon your employment with the
Company, you will be granted an option to purchase up to 150,000 shares of LSB common stock which will be governed by an option agreement, substantially in the form attached to this letter as Exhibit C. The option agreement will govern all terms of
the option. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Severance Agreement: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Effective
upon your hire date, the Company will enter into a Severance Agreement with you in the form attached to this letter as Exhibit D. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mark Behrman </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February 5, 2014 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 3
 </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">Dodd-Frank Requirement: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding any provision of this letter to the contrary, you acknowledge that any incentive-based compensation paid to you pursuant hereto
may be subject to recovery by the Company under any clawback policy which is adopted, as required under Section&nbsp;954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the rules and regulations of the United States Securities
and Exchange Commission thereunder or the requirements of any national securities exchange on which the Company&#146;s common stock may be listed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Authorized business expenses, such as travel and entertainment, will be reimbursed by the Company at its sole discretion. For reimbursement, you will need to
prepare and submit a detailed expense report that includes bona fide receipts. You will also receive the use of a company car, or a car allowance of $550.00 per month, to be determined and agreed to at a later time. All of the foregoing is subject
to regular LSB policies as amended from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Your employment is contingent upon your successful completion of our employment process, including
but not limited to, a pre-employment drug and alcohol test and physical, as well as a background check. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You will be also required to sign the
Company&#146;s Confidentiality and Assignment Agreement protecting the Company&#146;s rights to proprietary information and the Company&#146;s Code of Business Conduct agreeing to sustain ethical business practices. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You will be eligible for four weeks paid vacation per calendar year. This vacation should be taken by December of the applicable year. If vacation is not used
during a calendar year, you will not be able to carry unused vacation days over to the following year. Other benefits are outlined in the employee handbook and specific benefit summaries and booklets and are generally available following a 90-day
waiting period. These benefits include: comprehensive health, dental and vision plans administered by BlueCross, basic and voluntary life insurance, short and long term disability insurance with supplemental options, an employee contribution 401(k)
plan, a Section&nbsp;125 medical and dependent care reimbursement plan, and an employee assistance program. The Company has reserved the right to amend, modify or terminate any of its employee benefits at any time, without advance notice, except as
required by applicable law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company will pay for approved relocation costs as follow: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Selling costs for the sale of your existing Long Island residence. These costs include: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Real estate agent&#146;s fee &#150; The Company will pay for the cost of the real estate sales commission (6% maximum) on your Long Island
residence. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Closing costs on Long Island residence &#150; The Company will pay closing costs on your Long Island residence (maximum 1.5% of
value) to include the following items: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Mortgage release fees </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mark Behrman </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February 5, 2014 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 4
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Abstract update or title insurance </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Loan survey </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Title company closing fee </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Deed transfer tax or revenue stamps </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Both the real estate agent&#146;s fee and closing costs on
your new house will be reimbursed on or immediately prior to such costs being incurred, subject to presentation of an advance copy of the closing costs from the title company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Cost of buying a house in Oklahoma City: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">The Company will pay for the following costs, limited to 2.5% of the value of the new house: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Normal market level points (not including buy-down points) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Survey </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Recording fee </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Title company fee </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Title insurance </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Credit Bureau check </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Appraisal fee </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">All approved expenses will be reimbursed on or prior to closing of a new
residence in Oklahoma City, Oklahoma. An advance copy of the closing costs from the title company must be presented with the expense request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Packing, moving and valuation coverage of your household effects: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">A nationally recognized moving company will be specified and approved for use. If storage is necessary, the Company will pay up to sixty
(60)&nbsp;days. If in route to the new location by car, the Company will reimburse reasonable lodging costs. Items the Company does not cover are: frozen foods, houseplants, animals and pets, boats and trailers, etc. In addition, the Company
normally does not cover items such as laying or taking up carpets, draperies, home workshops, television antennas, exclusive use or expedited use of moving vehicles, etc. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Any IRS regulations about reporting moving and related moving expenses as a gross income on the employee&#146;s W-2 form will be followed as
the rules apply. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In the event permanent housing is not immediately available and your permanent presence is required in Oklahoma City, we
will pay for out-of-pocket costs associated with duplicate living expenses for a period of four (4)&nbsp;months. After four (4)&nbsp;months, this will be evaluated month to month. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mark Behrman </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February 5, 2014 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 5
 </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">To the extent that any right to reimbursement of expenses under this letter agreement constitutes
nonqualified deferred compensation (within the meaning of Section&nbsp;409A of the Internal Revenue Code of 1986, as amended (the &#147;Code&#148;)), (i)&nbsp;any such expense reimbursement shall be made by or the Company no later than the last day
of the taxable year following the taxable year in which such expense was incurred by you, (ii)&nbsp;the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit and (iii)&nbsp;the amount of
expenses eligible for reimbursement or in-kind benefits provided during any taxable year shall not affect the expenses eligible for reimbursement or in-kind benefits to be provided in any other taxable year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Remember that in the event you accept employment with the Company, you will be an at will employee of the Company. While this offer outlines some of the
details of your employment with the Company, the Company reserves the right to change its policies and benefits program at any time. All payments will be subject to compliance with Section&nbsp;409A of the Internal Revenue Code. This letter does not
constitute an employment contract but is instead intended to outline certain commitments by the Company, your assignment and certain benefits available to you at this time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We look forward to having you join the LSB team. Please show your acceptance of this offer by signing below and returning one copy to me no later than
February&nbsp;12, 2014. This offer will expire after that date. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Sincerely,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Barry H. Golsen</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Barry H. Golsen</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">President and Chief Operating Officer</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The undersigned has read, understood, agrees to and accepts the terms of the foregoing letter this 5th day of February,
2014. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Mark Behrman</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Mark Behrman</TD></TR>
</TABLE></DIV>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">LSB INDUSTRIES, INC. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(2008 Stock Incentive Plan) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">NON-QUALIFIED </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>STOCK OPTION
AGREEMENT </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS NON-QUALIFIED STOCK OPTION AGREEMENT (this &#147;Agreement&#148;) is effective as of the Grant Date set forth in
paragraph 2 below, by and between LSB INDUSTRIES, INC., a Delaware corporation (the &#147;Company&#148;), and Participant named in paragraph 2 below and a signatory hereto. For valuable consideration, the Company and Participant agree as follows.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <U>Background</U>. Participant is an employee, officer or director of the Company or an Affiliate, whom the Compensation and Stock Option Committee of
the Board of Directors of the Company (the &#147;Committee&#148;) has selected to receive an award under the Company&#146;s 2008 Stock Incentive Plan (as may be amended from time to time, the &#147;Plan&#148;). The purpose of the award is to retain
and motivate Participant by providing Participant the opportunity to acquire a proprietary interest in the Company and to link Participant&#146;s interests and efforts to the long-term interests of the Company&#146;s shareholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. <U>Certain Defined Terms</U>. The following terms will have the meanings ascribed below: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="42%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="text-indent:4.00em; font-size:10pt; font-family:Times New Roman">Participant:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Mark T. Behrman</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="text-indent:4.00em; font-size:10pt; font-family:Times New Roman">Option&nbsp;Shares:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman"><B>150,000</B>&nbsp;shares&nbsp;of&nbsp;the&nbsp;Company&#146;s&nbsp;common stock, par value $.10 per
share</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="text-indent:4.00em; font-size:10pt; font-family:Times New Roman">Exercise&nbsp;Price:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">$32.69 per share</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="text-indent:4.00em; font-size:10pt; font-family:Times New Roman">Grant Date:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">March 3, 2014</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="text-indent:4.00em; font-size:10pt; font-family:Times New Roman">Expiration&nbsp;Date:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">March 3, 2024</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. <U>Option Grant</U>. Subject to the terms of the Plan and of this Agreement, the Company hereby grants to Participant the
right and option (the &#147;Option&#148;) to purchase all or any portion of the Option Shares on or before the Expiration Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <U>Terms and
Conditions of the Option</U>. The Option will be subject to the terms and conditions of this Plan and the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.1</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Exercise of Option</U>. The Exercise Price is the price per share of common stock acquired upon exercise of the Option. The Option will be
exercisable as specified herein and in the Plan by written notice directed to the Company at its principal place of business setting forth the exact number of Option Shares that Participant is purchasing. The Option will not be deemed to be
exercised until the Exercise Price for the number of Option Shares to be purchased is collected by the Company, and Participant has complied with such other reasonable requirements </P></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
as the Committee may establish. Payment of the Exercise Price for the number of Option Shares to be acquired upon exercise of the Option will be by (a)&nbsp;check or wire transfer, or
(b)&nbsp;only if the date of notice of exercise is not within a &#147;blackout&#148; period or other period during which the Participant is prohibited under law or policies adopted by the Company from trading in the Company&#146;s securities, by
tendering by attestation shares of Common Stock already owned by the Participant that on the day prior to the exercise date have a Fair Market Value equal to the aggregate exercise price of the shares being purchased under the Option, provided that
the Participant must have held for at least six months any such tendered shares that were acquired by the Participant under a Company-sponsored stock compensation program. The Option may not be exercised after the Expiration Date. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Vesting</U>. The Option will vest and be exercisable in six installments, based upon Participant&#146;s years of continuous employment with the Company or an Affiliate from the Grant Date, as follows:
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">16.5% of the Option Shares will vest and be exercisable after one year; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">an additional 16.5% of the Option Shares will vest and be exercisable after two years; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">an additional 16.5% of the Option Shares will vest and be exercisable after three years; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">an additional 16.5% of the Option Shares will vest and be exercisable after four years; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top">an additional 16.5% of the Option Shares will vest and be exercisable after five years; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top">100% of the Option Shares will vest and be exercisable after six years. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Except as provided in
paragraph 4.3 of this Agreement, the Committee will have the sole and absolute discretion to accelerate the time when Participant will become entitled to exercise the Option. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.3</TD>
<TD ALIGN="left" VALIGN="top"><U>Exercise after Termination of Service</U>. The Option may not be exercised after a Termination of Service (as defined in the Plan), except as follows: </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Termination Other Than For Cause</U>. Unless the Termination of Service is a result the of (i)&nbsp;a violation by Participant of the
Company&#146;s Code of Business Conduct or the Company&#146;s Confidentiality and Assignment Agreement (copies of each of which Participant acknowledges receiving), (ii)&nbsp;embezzlement by Participant of the Company&#146;s assets, or
(iii)&nbsp;Participant&#146;s conviction of a felony by a court of competent jurisdiction (each being a termination &#147;For Cause&#148;), Participant may exercise the Option for a period of 30 days after the date of Termination of Service, but
</P></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
only as to the number of Option Shares that were vested as of the date of Participant&#146;s Termination of Service. Participant may not exercise the Option following a Termination of Service by
the Company For Cause. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"><U>Disability</U>. If the Termination of Service is on account of a Disability (as defined in the Plan), Participant may exercise the Option within 12 months after the date of Termination of Service, but only as to the
number of Option Shares that were vested as of the date of Participant&#146;s Termination of Service. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"><U>Death</U>. If Participant dies prior to the termination of the Option, the Option may be exercised within one year after the death of Participant by the personal representative of Participant&#146;s estate, or by a
person who acquired the right to exercise the Option by bequest, inheritance, or by reason of the death of Participant; provided that (i)&nbsp;Participant died while an employee of the Company or an Affiliate or (ii)&nbsp;Participant ceased to be an
employee of the Company or an Affiliate on account of a Disability and died within three months after the date of Termination of Service. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"><U>Change of Control</U>. If the Termination of Service occurs within two years following a Change of Control (as defined in the Severance Agreement, dated as of the Grant Date, between the Company and Participant (the
&#147;Severance Agreement&#148;)), and (i)&nbsp;the Termination of Service is not a termination For Cause, or (ii)&nbsp;the termination is a result of Participant&#146;s resignation as a result of (A)&nbsp;Participant being required by the Company
to be based at an office located outside of the Oklahoma City, Oklahoma metropolitan area or (B)&nbsp;Participant being required by the Company to report to someone other than the Company&#146;s President or Chief Executive Officer, or (C)&nbsp;a
material diminution in either Participant&#146;s authority, duties or responsibilities or the authority, duties or responsibilities of the corporate officer to whom Participant is required to report, then Participant&#146;s unvested Option Shares
will immediately vest and be deemed vested as of the date of Termination of Service for purposes of (a), (b)&nbsp;and (c)&nbsp;of this paragraph 4.3. </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding any provision of this paragraph 4.3, the Option may not be exercised after the expiration of 10 years from the Grant Date. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.4</TD>
<TD ALIGN="left" VALIGN="top"><U>Investment Representation</U>. If Option Shares issued pursuant to the exercise of the Option are not subject to an effective registration statement under the Securities Act of 1933, as amended (the &#147;Securities
Act&#148;), Participant agrees to represent and warrant in writing at the time of any exercise of the Option or any portion thereof that the Option Shares are being purchased only for investment and without any present intention to sell or
distribute such shares, and further agrees that the certificate representing Option Shares so acquired may bear an appropriate legend and will be sold or transferred only in accordance with the rules and regulations of the Securities and Exchange
Commission (the &#147;SEC&#148;) or any applicable law, regulation, or rule of any governmental agency. </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.5</TD>
<TD ALIGN="left" VALIGN="top"><U>Taxes</U>. Participant shall pay all original issue or transfer taxes and all other fees and expenses incident to the issue, transfer, or delivery of Option Shares. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.6</TD>
<TD ALIGN="left" VALIGN="top"><U>Not Assignable</U>. The Option or any interest on the Option may not be sold, assigned, pledged (as collateral for a loan or as security for the performance of an obligation or for any other purpose) or transferred
by Participant or made subject to attachment or similar proceedings otherwise than by will or by the applicable laws of descent and distribution, except that to the extent permitted by the Committee, in its sole discretion, a Participant may
designate on a Company-approved form one or more beneficiaries who may receive Option Shares under the Option after Participant&#146;s death. During a Participant&#146;s lifetime, the Option may be exercised only by Participant. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.7</TD>
<TD ALIGN="left" VALIGN="top"><U>No Rights until Issue</U>. No right to vote or receive dividends or any other rights as a stockholder of the Company will exist with respect to the Option Shares, notwithstanding the exercise of the Option, until the
issuance to Participant of a stock certificate or certificates representing such shares. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.8</TD>
<TD ALIGN="left" VALIGN="top"><U>Anti-dilution</U>. In the event of a stock dividend, stock split, spin-off, combination or exchange of shares, recapitalization, merger, consolidation, distribution to shareholders other than a normal cash dividend
or other change in the Company&#146;s corporate or capital structure, then the Committee shall make proportional adjustments in the Option and/or the Plan as described in the Plan. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.9</TD>
<TD ALIGN="left" VALIGN="top"><U>Delivery of Option Shares</U>. The Company will deliver the shares of common stock to be acquired upon the exercise of the Option within a reasonable period following (a)&nbsp;the receipt of the written notice of
exercise, (b)&nbsp;collection of payment in full of the Exercise Price for such shares, and (c)&nbsp;Participant&#146;s payment of any tax withholding obligations in accordance with paragraph 6 of this Agreement. If any law, regulation or stock
exchange requires the Company to take any action with respect to such shares before the issuance thereof, then the date of delivery of such shares shall be extended for the period necessary to take such action. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. <U>The Plan</U>. Participant acknowledges receipt of a copy of the Plan and represents that Participant is familiar with the terms and provisions of the
Plan and hereby accepts the Option subject to all such terms and provisions. In addition to the definitions contained in this Agreement, certain words and phrases used in this Agreement may be defined in the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6. <U>Withholding</U>. Upon the exercise of an Option requiring tax withholding, Participant will be required to pay to the Company for remittance to the
appropriate taxing authorities an amount necessary to satisfy the employee&#146;s portion of federal, state and local taxes, if any, incurred by reason of the exercise of an Option. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7. <U>Employment</U>. Nothing in the Plan or in this Agreement shall confer upon Participant any right to continued employment as an employee of the Company
or interfere in any way with the right of the Company to terminate Participant&#146;s employment at any time. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8. <U>Transferability of Shares</U>. If a registration statement with respect to the issuance of Option Shares to
Participant upon the exercise of the Option or any portion thereof is not in effect at the time of such issuance of Option Shares by the Company, at the time of the proposed transfer of Option Shares, Participant shall not offer, sell, hypothecate,
transfer or otherwise dispose of any of the Option Shares issued pursuant to the exercise of the Option or any portion thereof unless either (a)&nbsp;a registration statement with respect to such Option Shares is then in effect under the Securities
Act, and any applicable state securities laws, and such offer, sale, transfer or other disposition is accompanied by a prospectus relating to such registration statement and meeting the requirements of the Securities Act; or (b)&nbsp;counsel
satisfactory to the Company renders an opinion in writing, addressed to the Company and acceptable to the Company and its counsel, to the effect that, in the opinion of such counsel, such proposed offer, sale, transfer or other disposition of such
Option Shares is exempt from the provisions of Section&nbsp;5 of the Securities Act and the applicable state securities laws in view of the circumstances of such proposed offer, sale, transfer or other disposition. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9. <U>Binding Agreement</U>. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, executors,
administrators, trustees, successors and assigns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">EXECUTED as of the day and year first above written. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">LSB INDUSTRIES, INC., a Delaware corporation</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <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>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Jack E. Golsen</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Chairman</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">(the &#147;Company&#148;)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Mark T. Behrman</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center"><I>Signature</I></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">Mark T. Behrman</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center"><I>Please print name</I></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">(&#147;Participant&#148;)</TD></TR>
</TABLE></DIV>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.6
<SEQUENCE>8
<FILENAME>d918969dex996.htm
<DESCRIPTION>EX-99.6
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.6</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.6 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDED&nbsp;&amp; RESTATED </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>SEVERANCE AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS AMENDED AND RESTATED SEVERANCE AGREEMENT (&#147;Agreement&#148;) between LSB Industries, Inc., a Delaware corporation (the
&#147;Company&#148;), and TONY M. SHELBY (the &#147;Executive&#148;), dated this 27<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> day of April, 2015. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company deems the services of the Executive to be of great and unique value to the business of the Company, and the Company
desires to assure itself of continuity of management and to provide certain benefits to the Executive in the event of termination under certain limited conditions of Executive&#146;s employment with the Company; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company and the Executive have previously entered into a Severance Agreement, dated January&nbsp;17, 1989, as amended by the
Amendment to Severance Agreement, dated December&nbsp;17, 2008 (collectively, the &#147;Original Severance Agreement&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS,
this Agreement replaces in all respects the Original Severance Agreement, and the parties hereto desire that the Original Severance Agreement shall become null and void upon the execution by the parties hereto of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IT IS, THEREFORE, AGREED: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <U>Operation of
Agreement</U>. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.1</TD>
<TD ALIGN="left" VALIGN="top">The &#147;Control Date&#148; shall be the date during the &#147;Change of Control Period&#148; (as defined in Section&nbsp;1.2) on which a Change of Control (as defined in Section&nbsp;2) of the Company occurs.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.2</TD>
<TD ALIGN="left" VALIGN="top">The &#147;Change of Control Period&#148; is the period commencing on the date hereof and ending on the earlier to occur of (i)&nbsp;the third anniversary of such date, or (ii)&nbsp;the first day of the month coinciding
with or next following the Executive&#146;s retirement date (&#147;Normal Retirement Date&#148;) from the Company; provided, however, that commencing on the date one year after the date hereof, and on each annual anniversary of such date (the date
one year after the date hereof and each annual anniversary of such date, is hereinafter referred to as the &#147;Renewal Date&#148;), the Change of Control Period shall be automatically extended so as to terminate on the earlier of (x)&nbsp;three
years from such Renewal Date or (y)&nbsp;the first day of the month coinciding with or next following the Executive&#146;s Retirement Date from the Company, unless at least sixty (60)&nbsp;days prior to the Renewal Date the Company shall give notice
that the Change of Control Period shall not be so extended. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.3</TD>
<TD ALIGN="left" VALIGN="top">For the purposes of this Agreement, the terms: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">1.3.1</TD>
<TD ALIGN="left" VALIGN="top">&#147;Person&#148; shall mean any individual, firm, corporation or other entity, and shall include any successor (by merger or otherwise) of such entity; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">1.3.2</TD>
<TD ALIGN="left" VALIGN="top">&#147;Affiliate&#148; and &#147;Associate&#148; shall have the respective meanings ascribed to such terms in Rule 12b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934, as amended, as in
effect on the date of this Agreement. </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. <U>Change of Control</U>. For purposes of this Agreement, a &#147;Change of Control&#148; means any of the
following events occurring during the Change of Control Period: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">individuals who, as of April&nbsp;1, 2015, constitute the Board of Directors of the Company (the &#147;Board&#148; generally and as of the date hereof the &#147;Incumbent Board&#148;) cease for any reason to constitute
at least a majority of the Board; provided, however, that any person becoming a director subsequent to April&nbsp;1, 2015, whose election, or nomination for election by the Company&#146;s shareholders, was approved by a vote of at least a majority
of the directors comprising the Incumbent Board (other than an election or nomination of an individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the directors of the
Company, or other actual or threatened solicitation of proxies by or on behalf of an individual, entity or group other than the Board) shall be deemed to be, for purposes of this Agreement, a member of the Incumbent Board; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">the date that any one person, or more than one person acting as a group (as defined in Treas. Regs. Section&nbsp;1.409A-3), acquires ownership of stock of the Company that, together with stock held by such person or
group, constitutes more than fifty percent (50%)&nbsp;of the total fair market value or total voting power of the stock of the Company (other than acquisition by the Golsen Group (as defined below); or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">the date any one person, or more than one person acting as a group (as defined in Treas. Regs. Section&nbsp;1.409A-3), acquires (or has acquired during the 12-month period ending on the date of the most recent
acquisition by such person or persons) ownership of stock of the Company possessing thirty percent (30%)&nbsp;or more of the total voting power of the stock of the Company, other than the acquisition by </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">any Person or group, which as of the date hereof has such ownership; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">any of the Golsen Group (as defined below). </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">For the purposes of this Agreement, the term
&#147;Golsen Group&#148; shall mean: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Jack E. Golsen; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">the spouse of Jack E. Golsen; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(C)</TD>
<TD ALIGN="left" VALIGN="top">Barry H. Golsen, Steven J. Golsen and Linda Golsen Rappaport, who are the children of Jack E. Golsen, or any spouse of such children; </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">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(D)</TD>
<TD ALIGN="left" VALIGN="top">any estate of, or the executor or administrator of any estate of, or any guardian or custodian for, any Person described in subparagraphs (A), (B), or (C), above, so long as such executor, administrator, guardian or
custodian is acting only in his, her or its capacity as such; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(E)</TD>
<TD ALIGN="left" VALIGN="top">any corporation, trust (including any voting trust), general partnership, limited partnership, limited liability company, organization or other entity (whether now existing or hereafter formed) of which at least 80% of
the outstanding beneficial voting or equity interest are beneficially owned, directly or indirectly, either (i)&nbsp;by one or more of the Persons described in subparagraphs (A), (B), (C), and (D), above, or (ii)&nbsp;by any combination of one or
more of the Persons described in subparagraphs (A), (B), (C), and (D), above; and, </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(F)</TD>
<TD ALIGN="left" VALIGN="top">any other Person (i)&nbsp;who or which is or becomes an Affiliate or Associate of any Person described in subparagraph (A), (B), (C), (D), or (E), above, or (ii)&nbsp;of which any Person described in subparagraph (A),
(B), (C), (D), or (E), above, is or becomes an Affiliate or Associate; provided, however, in either case (i)&nbsp;or case (ii)&nbsp;of this subparagraph (F), such other Person is not the Beneficial Owner of 5% or more of the shares of Common Stock
of the Company then outstanding (for purposes of determining the number of shares of Common Stock of the Company of which such other Person is the Beneficial Owner under this subparagraph (vii), such other Person shall not be deemed to beneficially
own shares of any Person described in subparagraphs (A), (B), (C), (D), or (E), above, solely by reason of an Affiliate or Associate relationship of the kind described in (i)&nbsp;or (ii)&nbsp;above in this subparagraph (F)). </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. <U>Termination</U>. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.1</TD>
<TD ALIGN="left" VALIGN="top"><U>Death</U>. This Agreement shall terminate automatically upon the Executive&#146;s death. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Cause</U>. The Company may terminate the Executive&#146;s employment for &#147;Cause.&#148; For purposes of this Agreement, termination of Executive&#146;s employment by the Company for &#147;Cause&#148; shall mean
termination for one of the following reasons: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.2.1</TD>
<TD ALIGN="left" VALIGN="top">the Executive shall be mentally or physically disabled from properly and fully performing his duties and responsibilities hereunder for a period of one hundred twenty (120)&nbsp;consecutive days, or one hundred eighty
(180)&nbsp;days even though not consecutive, within any three hundred sixty (360)&nbsp;day period, all as determined by the Board in good faith and supported by medical evidence; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.2.2</TD>
<TD ALIGN="left" VALIGN="top">the conviction of the Executive of a felony by a federal or state court of competent jurisdiction; or </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">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.2.3</TD>
<TD ALIGN="left" VALIGN="top">an act or acts of embezzlement of the Company&#146;s assets taken by the Executive that resulted in substantial personal enrichment of the Executive at the expense of the Company; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.2.4</TD>
<TD ALIGN="left" VALIGN="top">the Executive&#146;s willful failure during the period in which he is not mentally or physically disabled to follow a direct lawful written order from the Board that is within the reasonable scope of and consistent with
the Executive&#146;s duties that the Executive has performed during the sixty (60)&nbsp;days period immediately preceding the Control Date (or, if after the Control Date, the Executive and the Company have agreed in writing to a change in his
duties, then such written order must be within the reasonable scope of and consistent with the new duties so agreed by the Executive), which failure is not cured by the Executive within thirty (30)&nbsp;days after receipt by the Executive of written
notice from the Company to cure such failure. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.3</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination of Employment for Good Reason</U>. The Executive&#146;s employment may be terminated by the Executive for Good Reason. For purposes of this Agreement, &#147;Good Reason&#148; means: </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.3.1</TD>
<TD ALIGN="left" VALIGN="top">(A) the assignment to the Executive of any duties inconsistent with the Executive&#146;s position (including status, offices, titles and reporting requirements), authority, duties or responsibilities that he has had
during the sixty (60)&nbsp;day period immediately preceding the Control Date (or, if after the Control Date, the Executive and the Company have agreed in writing to a change in such position, authority, duties or responsibilities, then such
assignment shall not be consistent with the Executive&#146;s new position, authority, duties or responsibilities), or (B)&nbsp;any other action by the Company which results in a diminishment by such position, authority, duties or responsibilities,
other than an insubstantial and inadvertent action which is remedied by the Company promptly after receipt of notice thereof given by the Executive; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.3.2</TD>
<TD ALIGN="left" VALIGN="top">the Company&#146;s requiring the Executive to be based at any office or location other than that at which the Executive is based at the Control Date, except for travel reasonably required in the performance of the
Executive&#146;s responsibilities; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.3.3</TD>
<TD ALIGN="left" VALIGN="top">any purported termination by the Company of the Executive&#146;s employment with the Company otherwise than as permitted by this Agreement, it being understood that any such purported termination shall not be effective
for any purpose of this Agreement; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.3.4</TD>
<TD ALIGN="left" VALIGN="top">any failure by the Company to comply with and satisfy Section&nbsp;8.3 of this Agreement; or </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>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.3.5</TD>
<TD ALIGN="left" VALIGN="top">a determination by the Board of Directors of the Company, or a committee thereof, or the Chief Executive Officer of the Company that the Executive&#146;s employment with the Company should be terminated without
&#147;Cause,&#148; and, as a result of, or in connection with, such determination, the Executive&#146;s employment with the Company is terminated without &#147;Cause,&#148; it being understood that any such termination by the Company shall not be
effective for any purpose of this Agreement except as otherwise provided in Section&nbsp;4.1. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">For purposes of this
Section&nbsp;3.3, any good faith determination of &#147;Good Reason&#148; made by the Executive shall be conclusive. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.4</TD>
<TD ALIGN="left" VALIGN="top"><U>Notice of Termination</U>. Any termination by the Company for Cause or by the Executive for Good Reason shall be communicated by Notice of Termination to the other party hereto given in accordance with
Section&nbsp;9.2 of this Agreement. For purposes of this Agreement, a &#147;Notice of Termination&#148; means a written notice which </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.4.1</TD>
<TD ALIGN="left" VALIGN="top">indicates the specific termination provision in this Agreement relied upon, </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.4.2</TD>
<TD ALIGN="left" VALIGN="top">sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive&#146;s employment under the provision so indicated, and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">3.4.3</TD>
<TD ALIGN="left" VALIGN="top">if the termination date is other than the date of receipt of such notice, specifies the termination date (which date shall be not more than fifteen (15)&nbsp;days after the giving of such notice). </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.5</TD>
<TD ALIGN="left" VALIGN="top"><U>Date of Termination</U>. &#147;Date of Termination&#148; means, (a)&nbsp;if the termination is for Cause, the date of receipt of the Notice of Termination or any later date specified therein, (which date shall not be
more than fifteen (15)&nbsp;days after the giving of such notice), as the case may be, and (b)&nbsp;if the termination is for Good Reason and the Company has not cured the default prior to the expiration of the applicable Cure Period, if any, the
day immediately following the expiration date of the Cure Period. If the Executive&#146;s employment is terminated by the Company in breach of this Agreement, the Date of Termination shall be the date on which the Company notifies the Executive of
such termination.&#148; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.6</TD>
<TD ALIGN="left" VALIGN="top"><U>Notice Upon Termination for Good Reason</U>. Notwithstanding any other provision of this Agreement, if the Executive intends to terminate the Executive&#146;s employment with the Company for Good Reason, the
Executive must provide a Notice of Termination within ninety (90)&nbsp;days after the initial existence of the event that constitutes Good Reason. The Company will have thirty-five (35)&nbsp;days after receipt of such written notice to cure the
default that constitutes Good Reason (the &#147;Cure Period&#148;).&#148; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.7</TD>
<TD ALIGN="left" VALIGN="top"><U>Resignation</U>. Termination of employment by voluntary resignation of the Executive. </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">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <U>Obligations of the Company upon Termination</U>. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.1</TD>
<TD ALIGN="left" VALIGN="top"><U>Amount of Payment</U>. If </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">4.1.1</TD>
<TD ALIGN="left" VALIGN="top">within twenty-four (24)&nbsp;months after the Control Date, the Company shall terminate the Executive&#146;s employment other than for Cause; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">4.1.2</TD>
<TD ALIGN="left" VALIGN="top">within twenty-four (24)&nbsp;months after the Control Date, the employment of the Executive shall be terminated by the Executive for Good Reason; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">4.1.3</TD>
<TD ALIGN="left" VALIGN="top">within twenty-four (24)&nbsp;months after the determination by the Board of Directors of the Company, or a committee thereof, or the Chief Executive Officer of the Company that the Executive&#146;s employment with the
Company should be terminated without &#147;Cause,&#148; the employment of the Executive with the Company is terminated by the Company without &#147;Cause&#148; as a result of, or in connection with, such determination, then such termination shall be
a termination by the Executive for Good Reason for the purposes of this Agreement; </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, in the event of such termination of
the Executive pursuant to either 4.1.1 or 4.1.2, above, the Company shall pay to the Executive in a lump sum in cash on the &#147;Payment Date&#148; (as defined below) an amount equal to 2.9 times the &#147;Executive&#146;s Base Amount&#148; (as
defined below), and in the event of such termination of the Executive pursuant to 4.1.3, above, the Company shall pay to the Executive in a lump sum in cash on the Payment Date an amount equal to 2.0 times the Executive&#146;s Base Amount, in each
case, subject to receipt by the Company of a release executed by the Executive pursuant to and in accordance with Section&nbsp;4.3 hereof. For the purpose of this Agreement, the &#147;Executive&#146;s Base Amount&#148; shall mean the average annual
gross compensation (salary and bonus) paid by the Company to the Executive and includible in the Executive&#146;s gross income during the period consisting of the most recent five taxable years ending before the Control Date; provided, however, that
if the Executive has been employed by the Company for less than such five year period immediately preceding the Control Date, then the &#147;Executive&#146;s Base Amount&#148; shall be the average annual gross compensation (salary and bonus) paid by
the Company to the Executive and includible in the Executive&#146;s gross income during the most recent number of taxable years ending before the Control Date that the Executive was employed by the Company. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Payment Date</U>. For purposes of Section&nbsp;4.1 of this Agreement, the &#147;Payment Date&#148; is the Date of Termination. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.3</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>Release</U>. The Company&#146;s obligation to pay Executive the amounts described in Section&nbsp;4.1 shall be subject to the Executive executing a
release of claims against the Company before the end of the Release Expiration Date (defined below) and provided further that nothing contained in such release shall constitute a release of the Company from any obligations it may have to the
Executive (a)&nbsp;under this Agreement or any other written agreement between the Executive and the Company in effect as of the Date of Termination; (b)&nbsp;relating to any employee
</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">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
benefit plan, stock option plan, stock option agreement or ownership of the Company&#146;s stock or debt securities; or (c)&nbsp;relating to any rights of indemnification and/or defense under the
Company&#146;s certificate of incorporation, bylaws, or coverage under officers and directors insurance. The Company will deliver such release to Executive pursuant to and in accordance with this Section&nbsp;4.3 within ten (10)&nbsp;business days
following the date on which such termination of employment constitutes a separation of service under the terms of this Agreement, and the Company&#146;s failure to deliver such release prior to the expiration of such ten (10)&nbsp;business day
period shall constitute a waiver of any requirement to execute such release. Assuming timely delivery of the release by the Company, if the release is pursuant to and in accordance with this Section&nbsp;4.3, and Executive fails to execute such
release on or prior to the Release Expiration Date, Executive will not be entitled to any severance payments or benefits otherwise subject to the release condition. In any case where the date of the separation from service and the Release Expiration
Date fall in two separate taxable years, any payments required to be made to Executive that are subject to the release condition and are treated as nonqualified deferred compensation for purposes of Section&nbsp;409A shall be made in the later
taxable year. The term &#147;<B><I>Release Expiration Date</I></B>&#148; shall mean the date that is twenty-one (21)&nbsp;days following the date upon which the Company timely delivers to Executive the release contemplated above, or in the event
that Executive&#146;s separation from service is &#147;in connection with an exit incentive or other employment termination program&#148; (as such phrase is defined in the Age Discrimination in Employment Act of 1967), the date that is forty-five
(45)&nbsp;days following such delivery. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. <U>Non-Exclusivity of Rights</U>. Nothing in this Agreement shall prevent or limit the
Executive&#146;s continuing or future participation in any benefit, bonus, incentive or other plan or program provided by the Company or any of its affiliated companies and for which the Executive may qualify, nor shall anything herein limit or
otherwise affect such rights as the Executive may have under any stock option or other agreement with the Company or any of its affiliated companies at or subsequent to the Date of Termination shall be payable in accordance with such plan or
program. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6. <U>Full Settlement</U>. The Company&#146;s obligation to make the payments provided for in this Agreement and otherwise to perform its
obligations hereunder shall not be affected by any circumstances, including, without limitation, any set-off, counterclaim, recoupment, defense or other right which the Company may have against the Executive or others. In no event shall the
Executive be obligated to seek other employment by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement. The Company agrees to pay, to the full extent permitted by law, all legal fees and expenses
for one (1)&nbsp;law firm which the Executive may reasonably incur as a result of any contest (regardless of the outcome thereof) by the Company or others of the validity or enforceability of, or liability under, any provision of this Agreement. In
order to comply with Section&nbsp;409A of the Code, in no event shall the payments by the Company under this Section&nbsp;6 be made later than the end of the calendar year next following the calendar year in which such fees and expenses were
incurred, <I>provided</I>, that the Executive shall have submitted an invoice for such fees and expenses at least 10 days before the end of the calendar year next following the calendar year in which such fees and expenses were incurred.&nbsp;The
</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">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
amount of such legal fees and expenses that the Company is obligated to pay in any given calendar year shall not affect the legal fees and expenses that the Company is obligated to pay in any
other calendar year, and the Executive&#146;s right to have the Company pay such legal fees and expenses may not be liquidated or exchanged for any other benefit. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7. <U>Confidential Information</U>. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.1</TD>
<TD ALIGN="left" VALIGN="top">The Executive shall hold in a fiduciary capacity for the benefit of the Company all secret or confidential information, knowledge or data relating to the Company or any of its affiliated companies, and their respective
businesses, which shall have been obtained by the Executive during the Executive&#146;s employment by the Company or any of its affiliated companies and which shall not be public knowledge (other than by acts by the Executive or his representatives
in violation of this Agreement). After termination of the Executive&#146;s employment with the Company, the Executive shall not, without the prior written consent of the Company, communicate or divulge any such information, knowledge or data to
anyone other than the Company and those designated by it. In no event shall an asserted violation of the provisions of this Section&nbsp;7 constitute a basis for deferring or withholding any amounts otherwise payable to the Executive under this
Agreement. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.2</TD>
<TD ALIGN="left" VALIGN="top">The Executive agrees that the remedy at law for any breach or threatened breach of any covenant contained in this Section&nbsp;7 will be inadequate, and that the Company, in addition to such other remedies as may be
available to it, in law or in equity, shall be entitled to injunctive relief without bond or other security. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8. <U>Successors</U>. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.1</TD>
<TD ALIGN="left" VALIGN="top">This Agreement is personal to the Executive and without the prior written consent of the Company shall not be assignable by the Executive otherwise than by will or the laws of descent and distribution. This Agreement
shall inure to the benefit of and be enforceable by the Executive and the Executive&#146;s legal representatives. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.2</TD>
<TD ALIGN="left" VALIGN="top">This Agreement shall inure to the benefit of and be binding upon the Company and its successors. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.3</TD>
<TD ALIGN="left" VALIGN="top">In the event of a Change of Control of the Company, any parent company or successor shall, in the case of a successor, by an agreement in form and substance satisfactory to the Executive, expressly assume and agree to
perform this Agreement and, in the case of a parent company, by an agreement in form and substance satisfactory to the Executive, guarantee and agree to cause the performance of this Agreement, in each case, in the same manner and to the same extent
as the Company would be required to perform if no Change of Control had taken place. </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">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9. <U>Miscellaneous</U>. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.1</TD>
<TD ALIGN="left" VALIGN="top">This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws. The captions of this Agreement are not part of the provisions
hereof and shall have no force or effect. This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.2</TD>
<TD ALIGN="left" VALIGN="top">All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as
follows: </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><U>If to the Executive</U>: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Tony M. Shelby </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">1516 Two Bridge
Dr </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Oklahoma City, OK 73133 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><U>If to the Company</U>: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">LSB
Industries, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">16 South Pennsylvania </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Post Office Box 754 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Oklahoma
City, Oklahoma 73101 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: President </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">with a copy to: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">LSB Industries,
Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">16 South Pennsylvania </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Post Office Box 754 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Oklahoma
City, Oklahoma 73101 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: General Counsel </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">or to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and communications shall
be effective when actually received by the addressee. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.3</TD>
<TD ALIGN="left" VALIGN="top">The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.4</TD>
<TD ALIGN="left" VALIGN="top">The Company may withhold from any amounts payable under this Agreement such Federal, state or local taxes as shall be required to be withheld pursuant to any applicable law or regulation. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.5</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt">This Agreement constitutes the entire agreement among the parties with respect to the subject matter hereof and supersedes any and all prior or
contemporaneous </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">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
oral and prior written agreements and understandings. There are no oral promises, conditions, representations, understandings, interpretations or terms of any kind as conditions or inducements to
the executive hereof or in effect among the parties. This Agreement may not be amended, and no provision hereof shall be waived, except by a writing signed by all the parties to this Agreement, or, in the case of a waiver, by the party waiving
compliance therewith, which states that it is intended to amend or waive a provision of this Agreement. Any waiver of any rights or failure to act in a specific instance shall relate only to such instance and shall not be construed as an agreement
to waive any rights or failure to act in any other instance, whether or not similar. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.6</TD>
<TD ALIGN="left" VALIGN="top">Should any provision of this Agreement be unenforceable or prohibited by an applicable law, this Agreement shall be considered divisible as to such provision which shall be inoperative, and the remainder of this
Agreement shall be valid and binding as though such provision were not included herein. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.7</TD>
<TD ALIGN="left" VALIGN="top">This Agreement may be executed in two or more counterparts with the same effect as if the signatures to all such counterparts were upon the same instrument, and all such counterparts shall constitute but one instrument.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.8</TD>
<TD ALIGN="left" VALIGN="top">Upon execution of this Agreement, the parties hereto agree that the Original Severance Agreement is no longer in effect and is null and void in all respects. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.9</TD>
<TD ALIGN="left" VALIGN="top">All headings in this Agreement are for convenience only and are not intended to affect the meaning of any provision hereof. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10. <U>Section&nbsp;409A and Section&nbsp;280G of the Internal Revenue Code</U>. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.1</TD>
<TD ALIGN="left" VALIGN="top"><U>6-Month Delay</U>. If any amounts that become due under this Agreement constitute &#147;nonqualified deferred compensation&#148; within the meaning of Section&nbsp;409A of the Internal Revenue Code of 1986, as
amended, and the treasury regulations promulgated thereunder (&#147;Section 409A&#148;), payment of such amounts shall not commence until the Executive incurs a &#147;separation from service.&#148; Notwithstanding anything herein to the contrary, if
the Executive is a &#147;specified employee,&#148; for purposes of Section&nbsp;409A of the Code, on the date on which he incurs a separation from service, any payment hereunder that provides for the &#147;deferral of compensation&#148; within the
meaning of Section&nbsp;409A of the Code shall not be paid prior to the first business day after the date that is six months following the Executive&#146;s &#147;separation from service;&#148; provided, however, that a payment delayed pursuant to
the preceding clause shall commence earlier in the event of the Executive&#146;s death prior to the end of the six-month period. Within 10 business days after the end of such six months, the Executive shall be paid a lump sum payment in cash equal
to any payments delayed because of the preceding sentence. Thereafter, the Executive shall receive any remaining benefits as if there had not been an earlier delay. </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">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.2</TD>
<TD ALIGN="left" VALIGN="top"><U>Certain Definitions</U>. For purposes of this Agreement, the term &#147;separation from service&#148; shall have the meaning set forth in Section&nbsp;409A(a)(2)(i)(A) of the Code and determined in accordance with
the default rules under Section&nbsp;409A. The term &#147;specified employee&#148; shall have the meaning set forth in Section&nbsp;409A(a)(2)(B)(1) of the Code, as determined in accordance with the uniform methodology and procedures adopted by the
Employer and then in effect. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.3</TD>
<TD ALIGN="left" VALIGN="top"><U>Dodd-Frank Requirement</U>. Notwithstanding any provision of this Agreement to the contrary, Executive acknowledges that any incentive-based compensation paid to Executive pursuant hereto may be subject to recovery
by the Company under any clawback policy which is adopted, as required under Section&nbsp;954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the rules and regulations of the United States Securities and Exchange Commission
thereunder or the requirements of any national securities exchange on which the Company&#146;s common stock may be traded. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.4</TD>
<TD ALIGN="left" VALIGN="top"><U>Intent</U>. The provisions of this Agreement are intended to satisfy the applicable requirements of Section&nbsp;409A of the Code with respect to amounts subject thereto and shall be performed, interpreted and
construed consistent with such intent. If any provision of this Agreement does not satisfy such requirements or could otherwise cause the Executive to recognize income under Section&nbsp;409A of the Code, the Executive and the Company agree to
negotiate in good faith an appropriate modification to maintain, to the maximum extent practicable, the original intent of the applicable provision without violating the requirements of Section&nbsp;409A of the Code or otherwise causing the
recognition of income thereunder.&#148; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.5</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>280G Parachute Payments</U>. In the event that any payments or benefits (whether made or provided pursuant to this Agreement or otherwise) provided
to Executive constitute &#147;parachute payments&#148;&#146; within the meaning of Section&nbsp;280G of the Code (&#147;<B><I>Parachute Payments</I></B>&#148;), and will be subject to an excise tax imposed pursuant to Section&nbsp;4999 of the Code,
the Executive&#146;s Parachute Payments will be reduced to an amount determined by the Company in good faith to be the maximum amount that may be provided to the Executive without resulting in any portion of such Parachute Payments being subject to
such excise tax (the amount of such reduction, &#147;<B><I>Cutback Benefits</I></B>&#148;). The Parachute Payment reduction contemplated by the preceding sentence, if applicable, shall be implemented by determining the &#147;Parachute Payment
Ratio&#148; (as defined below) for each Parachute Payment and then reducing the Parachute Payment in order beginning with the Parachute Payment with the highest Parachute Payment Ratio. For Parachute Payments with the same Parachute Payment Ratio,
such Parachute Payments shall be reduced based on the time of payment of such Parachute Payments, with amounts having later payment dates being reduced first. For Parachute Payments with the same Parachute Payment Ratio and the same time of payment,
such Parachute Payments shall be reduced on a pro rata basis (but not below zero) prior to reducing Parachute Payments with a lower Parachute Payment Ratio. For purposes hereof, the term &#147;<B><I>Parachute Payment Ratio</I></B>&#148; shall mean a
fraction the </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">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
numerator of which is the value of the applicable Parachute Payment for purposes of Section&nbsp;280G of the Code and the denominator of which is the intrinsic value of such Parachute Payment.
</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the Executive has hereunto set his hand and, pursuant to the authorization from its Board of Directors,
the Company has caused these presents to be executed in its name on its behalf, all as of the day and year first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">&#147;EXECUTIVE&#148;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Tony M. Shelby</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">TONY M. SHELBY</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">&#147;COMPANY&#148;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">LSB INDUSTRIES, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Barry Golsen</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Barry Golsen, Chief Executive Officer</TD></TR>
</TABLE></DIV>
 <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">12 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.7
<SEQUENCE>9
<FILENAME>d918969dex997.htm
<DESCRIPTION>EX-99.7
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.7</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.7 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2015 AMENDMENT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TO
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>SEVERANCE AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This 2015 AMENDMENT TO SEVERANCE AGREEMENT (the &#147;Amendment&#148;) is entered into this
27<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> day of April, 2015, by and between LSB INDUSTRIES, INC., a Delaware corporation (the &#147;Company&#148;), and JACK E. GOLSEN, an individual (the &#147;Executive&#148;), and amends that
certain Severance Agreement, dated January&nbsp;17, 1989, as amended (the &#147;Agreement&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company and the Executive
desire to amend Subsection 2.2(a) of the Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, the Company and the Executive hereby agree to amend the Agreement as
follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <U>Amendment to Subsection 2.2(a)</U>. Subsection 2.2(a) of the Agreement is hereby amended in its entirety to read as follows: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#147;(a)</TD>
<TD ALIGN="left" VALIGN="top">individuals who, as of April&nbsp;1, 2015, constitute the Board of Directors of the Company (the &#147;Board&#148; generally and as of the date hereof the &#147;Incumbent Board&#148;) cease for any reason to constitute
at least a majority of the Board; provided, however, that any person becoming a director subsequent to April&nbsp;1, 2015, whose election, or nomination for election by the Company&#146;s shareholders, was approved by a vote of at least a majority
of the directors comprising the Incumbent Board (other than an election or nomination of an individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the directors of the
Company, or other actual or threatened solicitation of proxies by or on behalf of individual, entity or group other than the Board) shall be deemed to be, for purposes of this Agreement, a member of the Incumbent Board; or&#148; </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. <U>Amendment to Section&nbsp;10</U>. Section&nbsp;10 of the Agreement is hereby amended by adding at the end thereof a new Subsection 10.6 which reads as
follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#147;10.6</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><U>280G Parachute Payments</U>. In the event that any payments or benefits (whether made or provided pursuant to this Agreement or otherwise) provided
to Executive constitute &#147;parachute payments&#148;&#146; within the meaning of Section&nbsp;280G of the Code (&#147;<B><I>Parachute Payments</I></B>&#148;), and will be subject to an excise tax imposed pursuant to Section&nbsp;4999 of the Code,
the Executive&#146;s Parachute Payments will be reduced to an amount determined by the Company in good faith to be the maximum amount that may be provided to the Executive without resulting in any portion of such Parachute Payments being subject to
such excise tax (the amount of such reduction, &#147;<B><I>Cutback Benefits</I></B>&#148;). The Parachute Payment reduction contemplated by the preceding sentence, if applicable, shall be
</P></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
implemented by determining the &#147;Parachute Payment Ratio&#148; (as defined below) for each Parachute Payment and then reducing the Parachute Payment in order beginning with the Parachute
Payment with the highest Parachute Payment Ratio. For Parachute Payments with the same Parachute Payment Ratio, such Parachute Payments shall be reduced based on the time of payment of such Parachute Payments, with amounts having later payment dates
being reduced first. For Parachute Payments with the same Parachute Payment Ratio and the same time of payment, such Parachute Payments shall be reduced on a pro rata basis (but not below zero) prior to reducing Parachute Payments with a lower
Parachute Payment Ratio. For purposes hereof, the term &#147;<B><I>Parachute Payment Ratio</I></B>&#148; shall mean a fraction the numerator of which is the value of the applicable Parachute Payment for purposes of Section&nbsp;280G of the Code and
the denominator of which is the intrinsic value of such Parachute Payment.&#148; </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. <U>Continuing Effect</U>. The Agreement is amended and
modified only to the extent specifically amended or modified by this Amendment and none of the other terms or provisions of the Agreement are amended or modified by this Amendment. The Agreement, as amended and modified by this Amendment, shall
remain in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, this Agreement is executed effective as of the 27<SUP
STYLE="font-size:85%; vertical-align:top">th</SUP> day of April, 2015. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">LSB INDUSTRIES, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Tony M. Shelby</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Tony M. Shelby, Executive Vice President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">(the &#147;Company&#148;)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <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>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">JACK E. GOLSEN, an individual</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">(the &#147;Executive&#148;)</TD></TR>
</TABLE></DIV>
 <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>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>g918969ex99_5logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g918969ex99_5logo.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`1@!H`P$1``(1`0,1`?_$`*L```,!``(#````````
M``````@)"@<%!@,$"P$``00"`P$`````````````!@(#!PD$!0`!"`H0``$$
M`@$#`P(%!`("`P$```(!`P0%!@<(`!$2(1,)%`HQ02(C%5$R%A@D%S-#87%"
M*1$``0(#!00&!P8%`@<``````0(#`!$$(3$2!09!41,'87&!(@@)D:'!,D(4
M%?"QT5(C).%B,U,6<B5C<U0U)A<G_]H`#`,!``(1`Q$`/P![ORP?*CR%X?;R
MQO3>G\<P:NKG<&8S.RR[*([F06%T=I)*$Q65M,)QHM6U3N1'#<>><(G_`'$0
M01!4EV^24+&8U:J>H*PD()!3*\;Y@QZN\)7([2//765=IW6#]=3TC%$76S2K
M;0LK2I.+&7&G04X56`)!GMV0IQ_Y\>?3DCQ8DZN1A5;0G(NOHSR,*0]P)U7Y
MZ"D=Y%3Q<4D15]$3HH_Q;+Y2"WL724>KNWQ[_3Y<G),A0.9:C#@-QJ*43ZI4
ME\4%_$%S*W1S0U!M'--UR*&3=8GL9O&*DJ"A;H(PUJT[,PA=8:4D?>^H-5\^
MZ]D].A7.*%N@J@RUBP%(/>E/U`17AXK>2^F>1O,-C2>E':U[+7<O;?*JI:%K
MQ+*@0%-MM)PB5G=GTP?/*7;]EQ]XV;YWI444+)[74&I,_P!D5N.6,Z15U][-
MP[&;&^C54ZQBQILF!%GO04;<>;9=-L24D%53MUJ29"<>8VT%QQ+8O4H#TF41
MM6?SX?(%(E/C"O\`7=6DZ0<YJ%&P?'+%:6+.E/2854W.EP02>S#B(C/O.MHZ
M8HCA]B\DZ-V-.9>_3H?"W<*@-J;#M^&<MQBY/2'EZ\E-1:7R[/ZC,M0H7643
M+J@'V,(6MM)7A_:DX0HG""9R%YCI4OY[?D2<]E/^S<)K#1'P/V]8X)["?K1`
ME2RG4SIM,`*_B*H"=^Y+VZRW-*9:@<3&]PMIQ('7>G9!)4>7#R#H&%UM=FVH
M$9>V`5.+JZ5M*=\U&F"4CI41Z8\D7YW?D91QF)+VEBHR'Q4T?75FO2;04/\`
M;]MIF@(G&7P_$^Z>*+W1%Z1_BV6O(+M*ZXMH;0I!MV@R3&)2^7?X?,S9^?R3
M.,\K,NG:MJLIEIZL2:8B<<A9_-]\B#RQSKMZ5C$N`^,FQJF-3:C)J4PA@Z[$
M23+Q)]Y!^G_/LT:#W)%[]DZ0K2U$BF4Z5N%00HBT7B[9#=?Y??)#)\AKZYUS
M.W%MT;KC:U5204J0E2DJ(0RE)F0`001T"^&[?,-\DG*#BPSQ0H]#Y338/*V?
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MT_'`?!D4XK9Q'2?"3X.59TK3+.<E>I&U*;53',5AT.@VI(LD0/AE,F/8'YO/
MDFDHZ3.],7!4L9$5`;U?JM13Z9D%(")_$G#`34"4554[DJHG=$1$SAIK+P23
MQ"F5TXD!7E\^'MIH!3.<*5@!G\VX+S>0`/1NAO'PX_(?RPY<\E<QP3>>R:[+
ML/J]%W>9UM1#PS"<>-K(8.;8'2,61S,;I*R>@C!N)(>PX:MJKOEX]Q'MH,ZR
MNFH$(6P534H@SZH\8>,WPY<M.26G<GS70C56W55M:XRZ'GUNC"AI2QA"KB2!
M,P`7W`/E_N_5$PR".CHG&@1TR)%.0MO;$T0IV5'$::[HHIV3U[K^77-+*0,V
M[WY#Z(<\N=2$\V*_B>Y].4)]:V_5"(A=EBH>V<975\F75-/-8;Y@"MON"/C[
MKK*HJAW[@/?T3J05A*E"8DF=G5%U9;;XF,CNCIOBP+[<,7V^.F_`D*1&FZ(Y
M=S5%,O/&HRJZ2I^*NKZ_@G0'J@?OT_\`+'MBD;S%U)7SOIBF83]'8[+50UKY
M($:+X_\`FF+Z>32\7]VHZ/=450+7M^BIW145%)/P_P#GH858#'@ND/[MJ_\`
MJINO]X7=.Z/G"VX-UO@IQQ\6HD=@R<)&VY79OWOU(V2HTBK(3Q[>I)^/4LY4
MD.43<_=*1=?]O;'T]\IF?_G>2(624?3:<],^$G[KH<W\!6!8CL3FWD]'GV*X
M[F^-3>.6;*E3DE5$N*T6W\DQ2$Z/T-@U(8\CBNFR:DGDHJO]>M;J=PC*L`)M
M<2#Z#,'U61Y2\Q;,JRD\/[%/2.NM-O:@80X$J*<:."\K"N1$TS"3*Z8&Z`K^
M0#4^(:BYI<G->:]@QZ/",4V59M8UC$$`9J\=K9T=B6%15@:DZU%@FX2""+[8
M@J(B=:K2"RA#[8GAF+-EOMB/O+9S:L?T)G=!4N+73-U;>`$E0`(Z9R@2J9U6
MK$2KV934B+(@2'%=%AP`EJ8-EY$V0$XV,9/[O)"]53\.C&I`%&L+O#:Y`3NE
M%@NLRC_$\Q2X9GZ?4A(%Y'"5LB@G[@]%+)^$D@/$'AXQYQYLM")>3)VNJ5\6
M!_<<\F7O'P05_4GIW7J.M+@*SIN?]M4NN44O^7I(<]UI49#Y%\=MFW99.>^)
MW::;-!)[**X?UC,BPE1)4EYN*0QXGM$;R$G@+YJ:-HG]R(G;\NI)?PXD@[`+
M0+;_`+3B\JH8:-0R.[)*DI"@!,`J%D]UDS%5'(C36H9OP,:^VW*P'";'9F+Z
MYU[=46Q8^/Q8640+:1D,6O>F)=-MI9/&<.03+R..&#H?W(O9.T1U82<S4I0.
M+YCM]Z/G/U6XMOQ8YFI*EH<.KU@DDSL?%YLLW1+J3$1Z6%;)-U^7)L12.]"(
M68L57'`)Q]Q%[(VJH/87"["A=E5>W4ML*DGB&4@C;?'T2,.NAA-38&^"G%.T
M^[TWSW10E]N\#+G+O9$OQ8"2O'?+(;W@][A.E'V+JTE,1#]E!`3$2[?BJ=_S
MZ"=38N&T![F(G\(K!\RD+&DM/6?I?5'"#UL+LGV7?A'$_<(QXW^Y&&%%GBS*
MD:*K#LHSH**.#&R&T2,##W9>QD!=U[?U[+^'6OTP"<UP[T>V(.\ND)5S5S`2
MFX,N,MYFMOTW&R$'-0_HS&.3;8RI+#:^9]Q<<$4]&@$B7S=>%?+O^/4@.C]2
M7P@^B+J%DKF4W)59]NB+`OMR&P3CKOMUMM1;<W/';0R=%PG#9QJ,+BKV5?!!
M5>R)T":H/^X#\W#'\(I,\Q@$<[Z4*O\`HS'WJAU/*_5%KO7C'R!TQ0R8T.[V
MKIS8FOZB7,3O$8LLKQ6TIH+LGU3]@),P?+^B=#2@2)"^/`K2@VZEP_"H'IL,
M_3'S=]GZBV/J?*Y^![3P6_P/,Z(6XUIB^7PCKY#;L=QQIN9%,T]B;"D&UV9?
M9)QM?'R15`DZD+),Z9J&$TXPHJ4"12=O5OLMCZ`O#)XA-$<P]#Y=D-+5,4FK
M*.D;:<IUKDI8:[F)&*0,P,1EO@E?C\YFV'!'?A;UI\'#9,>7C$[7^2XF]/<I
M)@8W/MJ^QL[7'9"-.,/6T/\`B@]E'T%EU")"5%5%ZSLVHE5]'P)A"L8*9[;-
MO7!CXD^2[G/KEU_A2*QO+J]JK354[J@5H4ZEM:`V](]U*\?O)GALW2AH+7!W
M`?ESW3NGD9QSY<X)CK^Q+QK(LITUF6'V\'9NMED0VHSE9>52$H6+238Y>$^*
M1Q70[(A]^@RF?S'3SBT*:22M5ZB;=MA`W&[9%9FD-?<X/`LNLTMJ;32'6LPJ
M,354IT_+/!`F"PZA)"[#,I,E)V@1M6)_;>9U%R&@_P`KY(X>YB7U4'_+1QO$
M[=C(Y,-MQ2FK2/SB*`S8$*(K3CR*(JG8A5.LAW55<\DH6VU:"+S<=O7&]SKS
M(-;YMEU11#3V6I<?86UB+SIP!8*<0&$3(!N,@=\9W]Q?CE=2;%X@TJW8QFZ#
M16S**')EJ3+KX5]YKJ''E2WF0["4A8H(@A_[B_HG6/ID_P"]-JO.$_?`IY>[
MSJ^>+KX3B6<O>)D-Y%P]-FP1-Y]*4=9L(G:V>4N.1,ND^4EQEUZ0@("F)",=
MYU`540^ZHT?<D[JG4E\=*2%K$USE*ZR+S$52.(U5.(6G"JU,I3ENG?[3#H=D
M?*!@.5_%OB?`VFUKFT;8$3&,8Q2XS"TDU3&-0?X2X;M"G5C2NK.LTD*TC0AX
M)[:*I%Z=N@9W3M34URWUK0EGBXI@VWSNV15AF?@9YBZEY^5_,;-LSRNGTI49
MTNM;+:U./J0'`M*'&P)-J4!*TWV0GLD6#-B.HV^T8A[,Y7([;<1UR8\B`GB1
M*4DD%54O_62)T8X<8E8!8!V"+0DH0JG+(/Z0`PB=O=$B9;!,"6V*1_MW-:Y?
M8<@-S;HCU(LZZI=33=:O6YDVT4C+,@S+$LD@P8\=%0GR8J,<D$^X(H((K2*O
MZDZ#-3.)DTP%36"HD>H155YDFHLI&4:;T@FH"L^34NU:V09E+);+:7%="EDI
M3U*W1G_W#4=QKF#J]U4<!J9HCS%50A&0[#RFQ`0;,S5LQ`WA0Q`5)?+U_+K%
MTL99MTE$HB;RZU8>:U?A("SERI3M^)![#*=L3\E%<9;8G/`H@"OU;`!',8ST
MP21]16;[GM^\V!HG@"H:#^/;\.I$3WTE*9XMMOLW1=>W4)<)I6Q-9$U'H/9.
M*_OMOD`..6_0031T=TL>\)*B^)EC,8NP$BDI-]E]%5>Z_GU'VJ`17IG?PQ%(
M_F,XASOI9VCZ,Q([[511FJ]D55_#MT-QX`-T`7RCPK@-RDQ.7A'(3)-*WH0W
MYE?`NI6;XI4YCB=M!<L8#Z4F0#/&QK9E;,.0AQC4X_OB2.LFHJB+^7?L7@7.
M\&T=H,'V5:/YF4+C.:9-E><M.22XVZW3U`F+%)6E24VB1!!!D0=QB3;D[\0^
M;:[MLNN^)>WL&Y5Z\B-VMW&P;!LEIKO>.(8PR3*_R-UC5/*D6&:LL))^G<=J
M@(D\!=-EL2\!W]'GN842,-:A3U."+38I,KI3LEVQ[TY5>,SFCRTRMO+N<F19
MGF&FTK2E-4MHLO(5\*2MT(:6;"0"0J0-IE.%#85GV>Z?S-K--;9WDNN-@XY+
M1NLML>LYU+D=2]$>\9E?.:5&@E-QY#2B]"FM.-%V43!>BQBKR_4-$4X<:1[R
M2)*2=DMHZQ%B>F]3<G_%GR[<8?HV\UT^9<>FJ$87*9T@X5-K3WFG1_<:5+89
MB*@N%OW"IQHF.8'S8Q-PY,E8=;%W=K^*RK#RN"$89.=X2C@R*Q\W4$G95>3S
M2^XIDRR`^2C-=IAU.)RC5B9`G(^\/81^$5[<X/+HSG*4U^H^4F8MUF3-(+J*
M"JFFK`!)6VV\!P7@E,RC$4.*"<,BHQF?W)#\&UVIQ6LH,N',8EZ=VC/@NA_R
MHLFN<R3`IC=BB]_I#AFRH$*JJJ?DB#^:]:_39*,\9G^57LB-_+T4XQSVP+&%
MT4+PD01(V3!'81+?$VDYB)";%&8T9A^&QX27O<.,!>2@\#\B#)!M62DM&(&B
M$:I[?GW1%1.I$4OBGOSPS(`V^F+PDK55NA3F(I+A`&T3,K#;<;1UPQK8/QO[
M7P+AMAO.P,SP:XU#DE137$^HDS)M?EU-$NY+-;6+*:DPUAVLMZU<]OVX[WHU
MV)5Z$ZC48I:A3"F1PT+E,&V^5T5X:G\>V4:2YFUW+>LTY4EJBS)5(JI0\V<2
M@K"5!LE)D3OMZ(`(@KGITP)3!N.1HS@M1I/[3S4R0XV`-LG^ZIQR-/(4+Q3Q
M7NI(G18V'#3XT"^1F=TI[8]_4-87LI;K&;6'T(6%FTE"TA6'LG*8VQ1G]O?.
M?3E-LFO:^N9A2N/%Q8R&6ICS=2_*9V'@46&^_`8D?Q\J>RPZZ++JM"ZPT1BB
MJCA=P_4:1PFUD`*Q$=-TXK,\QW*LO&C<AS8M-'-D9LXSQ<(XH:53N+*"OWL!
M4D*"22F8F)&<<9]Q8T`\IM&.-J^!.:#OO>)?=:!3:S9Y&TBF")[Q.@7BXB*O
M;Q'_`.NL'3'_`'>R\I^QZQ$'>7:$_P#MRL_,<O6.L`H^Z<3KJK<?Z@79#S4Q
MUXG/"48"R$1!\%8D12#QC$XJ]P>\E=54[*G4B@*X@'PR[9Q=H@**THD.&+C*
MV?7NWBZ+`/MNVA;XY;^-M'/9=W3&5DS!P`(1QB,*^UY@(D(KW3N*DBKT!:L)
M.9`F7])/MBD[S'3CYVT;AEB.2L3ET*6.H>N*",]]U,'S(F#=;?'%K\F7&'#9
MD-N?Q,KP-AYDVW6G1/U$A)"1?5%3H7&ZR*_FP"XD&T8A?'RVK!;)T($^5-E2
M7);`W%M*ENR)\Z19V+CMA:O27ISARYMK*L7B=>=)P_=<-54S4NI3R;`O+*<$
M`N%L3)VCV1],?():'^36FDN]][Z4T)FTR`*0+;9)2`F1G(`2L$/-^WS>FN<_
MK%](SOL2]&9GYS)#AO3"$;.B_:E%_P#@??!2`.R"**B=U[(O6-J5"$Y:M-F(
M%-W7]A'G7S#VF1X>4I!&)&=TI````.%P>F1(G>19`"_*17M2?D)YBL+'-70W
M/:O,M1C1L2=?C121T%44+NY^+J#W3OUK-%80FH4N[$+8`O+*<"-!Y\E:@$&N
M;GNL3VVGU[H!F$LVL*`$IYAQ5E0BCNBR\^4;VY39!'?1&T%/(Q'N))Z=D[^G
M1>5)4"I(DHV'=U@>V+(W7&GTN*9!"L*DFVP]U4\(W[)Q2)]P`3CF2<'41?:%
M[CKE2=FF_==,CGZT)QEICLG@I-I_>7Z11%3T[]1GDZPC/T';W[.V*0?!"L,^
M).M(V?.B4Y?&N_JB<@9?UCTAZ=]2\,5MQMZ&\TJDKA=D)MY%%.S1`B=W"4U4
M53LOHG4D%L)0DBPSLWD;XN\;:0DM*;(&)8[1.?VNBK/D1-\?MOM>N/RTAMRL
M2U;'-Y882&R9<S=H?8$'O8`!=$?`7>R]E[=NZ]11FBC\Z\;/ZIOZX^;[G44M
M^)?/9@'_`,H79,W\4666]D2R6S=G<RY\^2KTZ(;+(L$DEQV0TU&(6F&P??:(
M?,?%`,4[?I]/7MWZE:@"4TR$DD'"+[I2W1]$VF"RSI^A86,"TTC4\5HM:292
MOEUQ17]O%&>8Y;[0;<=%WVN.-JI^:M(ZCDK8&N'S;::9,FVVF2[]T[EV[HB=
MNWJ)ZG`+#:Q_<(]1_A%</F0*9<Y<9$XE`#OUU0GO`IGA?M$<_P#<5*Y)Y+:$
MBM,$3K6C+SVW$?<5%1[.9!^@"Z+,4P<9%?,A\B1/3TZU.F52S:0OX1CSKY>+
MJ4\W:QL@%7TU9&^]-WVD)1.8%?+.<\'U+;4AP'''8KRDU'FB"HGBLI?(7"\W
M/+VU7N:]U3\.I&<;(6%$'9OLZ_M9%V2EX4#$%SE;(&8_#K@E=+<U.7'%N@R+
M$N/NWK_7&-WEV-SD4.II<=N8<K(DC!&61#DW]+9/`J100"`#%M/15153OUKJ
MS*:&O<#M2E9?E(2,A(=`B!>97AFY1<X\]9U1KREJ7\X33!E*FWW&1PT$E.)*
M2+1.4]L.W^)#G/S#Y'[SV;@^^=[9%LC$V./.Q+]G'+*CQ*L98N88P&8=A%?H
MJ2LFG)9:DN`J*9-HI>J=^R]#.H<GH\OHDKITJ#A7(DJ)LD;Y].Z/!'C&\-'*
M#DYRSI=2:$HJMG-UYHTRI;C[CH+:D.*4,*R1,E(D1(]D3)B#,F+3/N,NDV.-
MTZ_^4E1R6K8+].ID((;D4C'R3T0%_'\^Y%DH6,E9(L7A&S9T=D6,<@%U0Y)Z
M<F#Q/IS77*V7JW1K?'/D#N7C%M:HW9I/)YF-Y;1.S4!M]L)E1;44TS;GT%[5
M*BLV=%.=`/=CD7<7``VR%4%>MA6T;&8-EBH)X9E:+[+0/;]\%7-'EGI3F]I%
MW0NM&5.9:^I*P4$H<9<0/TW4'8M$R0;0I*B%`QX-N[6V/OO;&<[MSP8HYGL&
MYD9)E<JK@K!IBERT;:$(<7R<_CX4=MI`!I"4T]5)55>_6OHLMI<N;6U38N\9
MG%>2-NZ!+E%R4T+R,TZ[IO1XJBT\]C=<?65/.N"XF0"<.X)2$@62C.7H<U#!
M#:>D(RD-YUQ]AV.,8OJT<-L4<!$3Q14(5[=_%?5>LQE+DPI5B"KV1+*4.(4%
MKFA2L0D+?A-MF_;%"_S[MS'K_@\S%]]')7&C*6?=CMD\@DECK!Q/$@\U(E1%
M[>BHB>OY]1]E6$:@2N4P"YU6[_9%*O@J#8\2M<M:5**37D6?S."WI.R5IB>5
MRL,?+S.5(E3&%5]&``D)]TD%'7#`254]EY11$3\^R?UZ/U.+*TE1PD&RRR7L
MBZM#CV))]R2AAFDV=$O;&MR=L;KOL%35]MLO9EWJ.&S%@0]566:Y,>!`S")#
M@@WA+U@YCON5LOLXV(1T\2_4GBO6$O+:!+Q=<;2I9,R2)WVQ$-;R$Y,.ZG5J
MZIT[ESNJ'7R\X^MH.*4X3-2U8I@*)N,K[HZ`Q$F?65D1)9RWH<*1&?AOB9,B
MZ:N(ZU+16TCL*TA^:HG9._955>L\3DJ20$WCJV1*B5,H:6I#00@@2-ONB0`M
MN``E9U10C]O+'^DY<;2C/.,./M<=+=&2#V@=)M-A:\1XE;[HZ;:*H(AHGBJ=
MO7H3U$9T[>SOW=ABN+S&9+Y99$ZE,F_KDA9=^VJ+-_3#)^?>7?%]L;FUJWCM
MRIUGMO,>0][!P+!L-ML7Q[*%P^%`V99W#^/,661U-K#@1F4EP7RENDT:QQ4?
M+OWZ$4OJ87-M2DN$2F+#Z8JJT=K+5^AJIW.=&UCU#7J1PUN-$)64FV4Y&R!S
MP7C;\).P>7V3<(:C3NTXV[,4L<S@S)&0GFE7A$VXPP8IW4.ES!^[*)8V+L>0
MCD5L&T)]MMQ11/!>LLYI7%6`U#N*7YC$EN>)3Q`H;#QU3FI2O_BW"7^F,8M\
M5^!.#@&Y<YFZ6WT&-:"V52ZRS]ABKS];)K)[NVD5T*54UX7WNVU,,V*2NRA4
M4`.RJBHO2/JU:027W;.DPA7B-Y_%UL'5&:8U-E0_6V=/=OC0.*W.3X0N.&5J
MQJ76N[]76.\6H&(N;`V!K++V:B/BMW92L:?L8^77%G,&FPI)QN+828OD`$RA
M.)Y-BG3+E>Z^D-NN+6@G:28$M7<S^9^MJ$Y=J[.Z[,<N;<2YP77<2`L`X589
M`8@"1U1[VON-/P@;`Y<7G!W%]-[B_P"Z<&N,XQ>TA3W,YA83'FZTI*NSOD;R
M9ZZ*+)CO5MHRL=Q`_P"4?=/11[]*1F%2G]NAUP)%DIF0C947._G1E&5M4F7:
MAS-C*VQA;:;>(0@"S"E,K`!<(Q5K&/M][G3^9;Z9U'O*-@F`[CQK2ETH0-A0
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MDMU82,?MHD=,6;L,=:-);@^+;`+^`]^FA4$+)25<2V9%G69P"Y%GVJM,U0SC
M(JU^CS%P$<1ITI6<5]HMOMMZYP'N5A\%6*Z"J>1'^O.YI6$Y!N;(M,1(5?DV
M2,6Y9+BV#0-AOS1C.78BM46/V31-$)>2.$HJGITOY]]2.*7'9"RU1@N7S8YQ
M+>##FI,X*RDD?NUREM^^/=R_7'PW56?ZWUGC7"SD/L?.=HZAP#<N(XWAN67\
MJSFXYL/'URBNB,Q#R%LG+:!"7M*$5[`2^BJG7?SCP78MPK(L[QAM'-GFRI)?
M&H\U2$&_YE=\=WS+5?Q?:]VGI_0\3X_^1%SNK=>L,>V90ZR7,95;E-.ES,MH
MS6+9"U:9`#5?<Q6J8WI/=PFT9-%55]4Z[-4\%!!6[,_S&$#FQS6J&ENJU#FA
M0+YU+DS#</BDM.+EG3;ZJN.W'?)]!66N]C#@^QZG.)<*WR+_`"V!!2OMJIFT
M:DSGV(57*HO;=9%WV77P]U$55[]<%0MZ845$).TP-:CU/JS4"FDZFS*LKPE`
M4@/.K<"!;*049`VFV4Y;90HWY'&R'YQ^+;JMN&#N9\6FQ)IU1)#;M<L+]9.(
M@M"*%W4054<'OW]>F'1^HDSE;&MHI_*/#X?X"Z%X\S9.W]-?(=R%Y?ZTBSFJ
M717-MF+9W4:8U'BQLPLY7\Q$QFT4VIAL5.;XD]*BJY[2BX[[C0J)(JHA7==*
M]T,)"U,AA4Y*$QU'='2Z[)6M@\1_D;S^/&?A5N9<F-)YG"KI#2LRHPWV2R;(
MX4YMLG4&-$<DDT"(I(8`/=>ZKTE)!0HW6PI?$;JF!>$M$#J!V]<9CR!J_K^%
MWQ-0S5OW7,5Y817TD"!DM;_M11=_*6R)(;(*Y^VTJE[;:DB"G=>NE6,HZX2A
M*A55&V=XW"4-:XLLL-?<;[U<?[C(=V+RA5A'63;5P1U]AQ>VQXN$)_LGY>XO
M]R>B(BITX"?F>S\(XK$<N`/NA9]<X'?A1QSQ/DKP*YOZURK<6`<?49YB:KS'
M!,_V)-8J<1MLHJ=,0FX>'W4J9+:DLLR*V4^K;C0OR&D8\T:-$7LE*4E"@3(8
MKX4^LLO-/WJ"-EI.^Z#IXZ2M:?[X\0\$Y\Z_R?7G.+5F!X9CG'3.]39+%SC0
M>ZL$C0;%G#I\F13,V+M79+3(3DB0;RU[JJB>\#W[72TGOI0OWA=TPR4N<!3[
M1[BB`H'?LG^,=`X[5U2Y]QYMQMB-^Q%V9N5ER.\W%.`AL<:ZDV6(,4&Q9C!$
M<1'!$10_-2-5555>D)`%497RC(4DC+@1[N.!FB9=NG%-^?-'7ZVU+#V#B>8:
MZY+4^X;K_L"GPIW6&N)-GE"66PZJNG^<S.9T9EY6DJH:J^[W1$14-45*9XU2
M&PPV3BI&<2NZ""+/5V0#.Q:+_P#EAJD5><!(GR#[F>GN&#*!&.1Q8QN.V+0H
MZ;CS++?9'$(6R$^Z>/9$)4^[3J3MQ1FA*E5Z%B[ADS@^<2RK:&!_(%P$N=)Z
MTKMQ;)I>!W'6-B^O)V55>M6+^9/U(3:,3<NMG9%=`9!I%<3WP%.R^`H?XJI=
MCR2!W\,8K"1\HYB.%D*`,K3?NA@_,3`]K9+RZXE<GL.R_1.N?D:A8)CL=_@9
MM#9%//;M7HSM_(^GP+8=2<.KR"8[`=F`XKI-,."VALDKH^T3ZQ-84)<0"Z&6
M'0EM3:TG@J(FJ4Y;CNA@'Q1;"XNYW!Y$6>A\/V3KC9>0;+<S3D?KW84F;:-8
MQLZ_GY#_`"D?&+LV1K+&D*U8FBU].X1"T#?N@T2^'7;/#D<`D9V]<<J^,E:$
M.&:<'=/\HN@8^:>H^)62?*%H3.=C<NG-:[KJ,IT*]CFC/^AMB9BQE]A6662'
MB,-=DT<MC&*![)WGG@]U\2"$+**\*H8]<6$XQ,C%LA^D6M-*\E#>(&4U$RPV
M;C?9'#;-U/P,+'_EH3;_`"PC?XUL7<>*/[9_DM*YG&>XZ;81U_\`PB#BKLIB
MR<VQD_UONJR>.M"^<;WQ%0%7'!X0GO3-FWHAM2E\1F2>^$"4R+1;;LEVPO[6
M'&[X]H/$[D[05'R3/7V$7V7Z,>R[8!<0MN5G^!WE7?$]C41<4ESBN,GCY3+[
MM>3)HU!3]3I*G3`2UPSWNY,3L,//..&K;46Y.!)D,0,QUW"..VMQM^/Z?QXX
M'U&4?)97T6O\6HM\,:0RRMX9[DES=G0++>-/9[&EW-7'R2<_C<_'LU:"M9^I
MCPO>9=]X6WFQ5SI92,"1B[L[+#;'25K#CQ#<U$6C$.Z=]@MZH/36VE>-#'S`
M[9V!JKF[5O\`*FPRW;DFPT'D/%_:%CCF./S<.QN/F58_L!,MQ3%+R92U+,:0
MDAB:RCQ.J`@1"2(K"./,*[VZ7MAI:G/DDI4G]/%[T_5*^`%=XW_&JG!/9^,6
M/R2,+J2QYQ:VR>;L^ZXB[71W'-H0M+65;4ZP'#[67_-W!W>,F[9!<MH,2*V'
MTY(1+WZ1A;X1!5W<6XW_`'PZ%K-8TMIN1"+$XA:-IGL[8/AO2/'*-\B'`G*\
M]YR55QO?%-.ZW@Z@U5C_`!:V9CL#:NO(E%,:Q>YE9A_EV38UA\ZTB'[IC+=;
M5OP\28!53LL!.)'>V667PSB5P'`$]TK$R3=T=/7':=,:>XF5WS1[(V5CG,1S
M).1,S/=G2[OC2N@-A5`4]E.T?`J[>I'<,Z66'3_X+'!&T^H9;1J5Y?3`B.HJ
M]<`3\Q/%WI72]L.N+=^GH0I'Z6*Q4Q;T2OC/,$TGPY:V'\N,G'>;OU=[L/3?
M(*KW?6GQNV4PQQVJ+>WLG,IRGZRQL5K-M-8A+,P&#5HT<]01623NG72$HXBC
MBF9;KH;>4HTS"2@B2K%3F5'I&SM@)<TXW?'A*X$X)BEA\DYUFKXG+3:5_!VP
M'#S=LP[;/9O'VFJ;[`)F#,7/\]!?H\5:"W.UD%]+*-WZ4!1\556REK@24KNX
MKY'[KXRPZ[\ZVM+0QALR3B%HVF=P@G\=X\:`G<N>*%GH3Y&:/&^2-3Q+T=CV
MD,?R+AILG+JG*,2J-<_24^Q+$IV=X?500R^A_P"6E/+L8DRO_P#$;A'TX4@K
M3)4E2LLC%0LBG<!02R5B9Q2D=@N,XWS>^B<0G_(UQ.OMC\^L/HN;F.:UQ"IQ
MG##X>9Y/PS9.009F2N2LP@_2[0?QS"V;Z&^XT%4]?OR(CD?W$DFC@MIVM(+P
M(5)<KI1VTI0HUIP$M$BV8$MUDK8W;XC-6Z+UQE/*YW4G*?\`V1R2ZS>J/:C#
M6C\PTW#PS,HUMF163<(,KL+0+J+:6DB6C:0WW8\=N.B(9H8DO&`@8L!F9VWB
7WMA%6I:N%C3A`;`3:#,66F6WKD8__]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
