EXHIBIT 10.26.1
AMENDMENT TO EXECUTIVE/MANAGEMENT EMPLOYMENT AGREEMENT
This Amendment is made as of October 1, 2003 by and among Alon USA GP, LLC
("Employer") and Xxxxxx X. Xxxx ("Executive").
Whereas, the Employer and Executive entered into that certain
Executive/Management Employment Agreement dated as of October 1, 2002 (the
"Employment Agreement"); and
Whereas, it is necessary to amend the Employment Agreement to revise the base
salary and target bonus amount of the Executive to compensate for additional
provisions related to the title and capacity of the Executive.
Now therefore, the parties agree as follows:
1. Base Compensation as set forth in Section 2(a) of the Employment
Agreement, shall be $245,000 per year.
2. Target Bonus Amount as set forth in Section 2(b) of the Employment
Agreement, shall be sixty five percent (65%) of base compensation.
3. Except as set forth in this Amendment, nothing contained herein is
intended to modify or otherwise affect the terms and conditions of the
Employment Agreement which shall remain in full force and effect.
In witness whereof, the parties have caused this Amendment to be executed and
delivered as of the date first written above.
Alon USA GP, LLC
By: /s/ Xxxx X. Xxxxxx
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Name:
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Executive: /s/ Xxxxxx X. Xxxx
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