AMENDMENT TO THE BOARD REPRESENTATION AND STANDSTILL AGREEMENTRepresentation and Standstill Agreement • October 30th, 2017 • LSB Industries Inc • Industrial inorganic chemicals • Delaware
This Amendment to the Board Representation and Standstill Agreement (this “Amendment”) is made as of October 26, 2017, by and among LSB Industries, Inc. (the “Company”), LSB Funding LLC (the “Purchaser”), Security Benefit Corporation (“Security Benefit”), Todd Boehly (“Boehly”), Jack E. Golsen (“J. Golsen”), Steven J. Golsen (“S. Golsen”), Barry H. Golsen (“B. Golsen”), Linda Golsen Rappaport (“L. Rappaport”), Golsen Family LLC (“Family LLC”), SBL LLC (“SBL LLC”), and Golsen Petroleum Corp. (“GPC”, and together with J. Golsen, S. Golsen, B. Golsen, L. Rappaport, Family LLC, SBL LLC, each a “Golsen Holder” and, collectively, the “Golsen Holders”). Capitalized terms used but not otherwise defined in this Amendment shall have the meanings given them in the Agreement.
October 26, 2017 By Electronic Mail Mr. William F. Murdy Dear Bill:Letter Agreement • October 30th, 2017 • LSB Industries Inc • Industrial inorganic chemicals • Oklahoma
This letter agreement (this “Agreement”) confirms our mutual understanding regarding your retirement from the board of directors (the “Board”) of LSB Industries, Inc. (the “Company”) effective as of October [26], 2017 (the “Retirement Date”). The Company wishes to acknowledge your role as a member of the Board and thank you for your significant contribution to the Company.
