Re: Amendment Number 1 to the Change in Control AgreementConstar International Inc • November 14th, 2007 • Miscellaneous plastics products
Please refer to that certain Change in Control Agreement between Constar International Inc. (the “Company”) and you (the “Agreement”). In order to comply with Section 409A of the Internal Revenue Code (the “Code”) and to avoid the additional taxes that you would be subject to under Code Section 409A, the Company has agreed to amend the Agreement as set forth below. Accordingly, this letter agreement (“Amendment Number 1”) will amend the Agreement, effective as of January 1, 2008, as follows (any capitalized terms which are not defined herein shall have the meaning provided in the Agreement):
AGREEMENTAgreement • November 14th, 2007 • Constar International Inc • Miscellaneous plastics products • England and Wales
THIS AGREEMENT, dated as of August 1, 2007 (this “Agreement”), is made by and between Constar International Inc., having its principal offices at One Crown Way, Philadelphia, Pennsylvania 19154 (the “Company”), and Mr. Chris Phelan (the “Executive”).
