Kraton Polymers US LLC Benefits Restoration Plan Death Benefit Consent Letter
Kraton Polymers US LLC is informing the recipient about the implementation of its Amended and Restated Benefits Restoration Plan, effective January 1, 2013. The company will purchase corporate-owned life insurance policies on certain employees, including the recipient, to fund plan benefits. In exchange for the employee's consent to be insured, the company agrees to pay a $50,000 death benefit to the employee's estate if the employee is employed or fully retired at the time of death.
Exhibit 10.21
[Kraton Letterhead]
November [ ], 2012
[Name]
[Address]
[Address]
Dear [ ]:
We are implementing the Amended and Restated Kraton Polymers US LLC Benefits Restoration Plan, as amended and restated January 1, 2013.
We intend to fund the benefits payable under the Benefits Restoration Plan through the purchase of corporate-owned life insurance on your life and the lives of some of the other participants. The life insurance policies will be owned by the Company.
In consideration of your consent to be insured, we agree to pay your estate a death benefit of $50,000 if you are employed with us, or fully retired based on our defined benefit definition, on the date of your death.
Kraton Polymers US LLC
Melinda S. Conley,
Vice President, Human Resources
