Amendment No. 1 to the Tripartite Agreement
Exhibit 2
Amendment No. 1 to the Tripartite Agreement
WHEREAS, Kraton Polymers LLC (the “Company”), a Delaware limited liability company, which is a
wholly owned subsidiary of Polymer Holdings LLC, Xxxxxxxx X. Xxxxxx (“Xx. Xxxxxx”), and Kraton
Polymers France SAS (“Kraton Polymers France”) are parties (the “Parties”) to a Tripartite
Agreement dated as of April 9, 2007 (the “Tripartite Agreement”);
WHEREAS, Xx. Xxxxxx and the Company are parties to an employment contract dated as of April 9,
2007 (the “U.S. Contract”);
WHEREAS, Xx. Xxxxxx and the Company have executed Amendment No. 1 to the U.S. Contract as of
the date hereof; and
WHEREAS, in connection with execution of Amendment No. 1 to the U.S. Contract, the Parties
desire to amend the Tripartite Agreement in the manner set forth below.
NOW THEREFORE, for good and valuable consideration the receipt and sufficiency of which is
hereby acknowledged, the Parties agree as follows:
1. Article 4 of the Tripartite Agreement is hereby deleted in its entirety (except to
the extent Article 4 references other Articles of the Tripartite Agreement or Sections of
the U.S. Contract, which shall continue in full force and effect in accordance of their
terms, as may be amended from time to time). The Parties acknowledge and agree that any and
all rights and obligations under Article 4 of the Tripartite Agreement are hereafter
terminated and that such Article shall cease to be of further effect from and after the date
hereof. The Parties further acknowledge and agree that the terms of the U.S. Contract, as
amended, shall govern in all respects Xx. Xxxxxx’x right to severance and the treatment of
Xx. Xxxxxx’x Incentive Awards, as defined in the U.S. contract, as amended, (including by
reference to the original terms of such Incentive Awards), in the event his employment with
the Company terminates for any reason.
IN WITNESS WHEREOF, the Parties have executed this Amendment, effective as of December 19,
2007.
KRATON POLYMERS LLC | ||||
/s/ Xxxxxxx X. Xxx | ||||
By:
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Xxxxxxx X. Xxx | |||
Title:
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Vice President Human Resources | |||
Corporate Communication | ||||
XXXXXXXX X. XXXXXX |
||||
/s/ Xxxxxxxx X. Xxxxxx | ||||
KRATON POLYMERS FRANCE SAS | ||||
/s/ Xxxxxx X. Waiter | ||||
By:
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Xxxxxx X. Waiter | |||
Title:
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Director |