Amendment No. 1 to Executive Purchase and Vesting Agreements between Coffeyville Group Holdings, LLC and Executives
This amendment updates the vesting schedule for Common Units granted to executives Philip Rinaldi, Abraham Kaplan, George Dorsey, Stanislas Riemann, James Rens, Kevan Vick, and Keith Osborn by Coffeyville Group Holdings, LLC. The new schedule specifies that none of the units are vested as of the amendment date, and sets out a timeline for vesting in equal portions every six months from November 10, 2004, through May 10, 2007. All other terms of the original agreements remain unchanged.
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Exhibit 10.18
AMENDMENT NO. 1
TO EXECUTIVE PURCHASE AND VESTING AGREEMENT
AMENDMENT NO. 1 to each of the Executive Purchase And Vesting Agreements (the "Vesting Agreements"), each dated as of March 3, 2004, executed by Coffeyville Group Holdings, LLC (the "Company") and each of Philip Rinaldi, Abraham Kaplan, George Dorsey, Stanislas Riemann, James Rens, Kevan Vick and Keith Osborn. Except as otherwise provided herein, capitalized terms shall have the meanings ascribed to such terms in the Agreement.
WHEREAS, the Company wishes to change the vesting schedule in connection with the Common Units granted to each of the Executives;
NOW, THEREFORE, the Company and each of the Executives hereby agree to amend each of the Vesting Agreements as follows:
1. Vesting Schedule. Each Section 2.1(a) of the Vesting Agreements shall be replaced in its entirety by the following:
No Executive Common Units granted to Executive hereunder shall be deemed Vested Securities (as defined below) as of the date hereof and all such Executive Common Units shall be deemed Unvested Securities (as defined below). Except as otherwise provided herein, the Unvested Securities shall vest and be held by the Executive in accordance with the following schedule:
| Vesting Date | Percentage of Executive Common Units to be Vested on Vesting Date | |
|---|---|---|
| November 10, 2004 (the "Effective Date") | 16.66% | |
| May 10, 2005 | 16.66% | |
| November 10, 2005 | 16.66% | |
| May 10, 2006 | 16.66% | |
| November 10, 2006 | 16.66% | |
| May 10, 2007 | 16.66% |
IN WITNESS WHEREOF, the undersigned has executed this Amendment as of the date first above written.
EXECUTIVES | ||
/s/ Philip Rinaldi Philip Rinaldi | ||
/s/ Abraham Kaplan Abraham Kaplan | ||
/s/ George Dorsey George Dorsey | ||
Stanley Riemann Stanley Riemann | ||
/s/ James Rens James Rens | ||
/s/ Kevan Vick Kevan Vick | ||
/s/ Keith Osborn Keith Osborn | ||
COFFEYVILLE GROUP HOLDINGS, LLC | ||
By PEGASUS PARTNERS II, L.P., its Managing Member | ||
By: | /s/ Eric Griebetz | |
| Name: | Eric Griebetz | |
| Title: | Vice President | |
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- Exhibit 10.18
