Employment Agreement [Amendment No. 2] - MAPCO Express Inc., Delek US Holdings Inc. and Uzi Yemin
AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 2 (this "Amendment") to the Employment Agreement, by
and among MAPCO Express, Inc., ("Employer"), Delek US Holdings, Inc. ("Delek
US") and Uzi Yemin ("Employee), entered into and effective as of May 1, 2004,
and amended effective as of September 15, 2005 (as amended, the "Employment
Agreement"), is dated as of February 1, 2006.
WHEREAS, Employee, Employer and Delek US are parties to the Employment
Agreement; and
WHEREAS, Employee, Employer and Delek US desire to amend certain terms of
the Employment Agreement as described below.
NOW THEREFORE, in consideration of the mutual promises set forth in this
Amendment and intending to be legally bound, Employee, Employer and Delek US
agree as follows:
1. Section 3(b) of the Employment Agreement is hereby amended by deleting
the text of the section in its entirety and replacing it with:
"Termination. Notwithstanding Section 3(a) of this Agreement,
either party may terminate this Agreement for any reason upon twelve (12) full
months advance notice to the other party. In the event the employment
relationship terminates at any time during the Term or at the end of the Term,
Employee will be provided with salary continuation for a period of one
(1) full month following the twelve (12)-month notice period; and in the event
that Employee voluntarily resigns prior to the end of the Term, Employee will
be entitled to salary continuation for a period of one (1) full month following
the twelve (12)-month notice period. During any such salary continuation
period, Employee will be entitled to receive salary continuation based on the
salary set forth in Section 2(a). Furthermore, during such period, if Employee
resides in the United States, Employee will be entitled to receive the fringe
benefits as described in Section 2(b) and Ancillary Benefits as described in
Section 2(c); however, during such period, if Employee resides in Israel,
Employee will be entitled to receive the company-provided vehicle as described
in Section 2(c)(1) and the use of the telephones described in Section 2(c)(4).
Salary continuation paid during such period shall not be taken into
consideration in determining any Bonus Payments and/or Bonus Shares (as defined
below)."
2. This Amendment to the Employment Agreement shall have effect as of the
date hereof.
3. Except as otherwise provided herein, the Employment Agreement shall
continue unchanged and in full force and effect.
4. This Amendment may be executed in counterparts, each of which will be
deemed an original but all of which together shall constitute one and the same
agreement.
<PAGE>
IN WITNESS WHEREOF, the parties have executed this Amendment No. 2 to
Employment Agreement as of the date first above written.
MAPCO EXPRESS, INC.
By: /s/ Gabriel Last
-----------------------------
Name: Gabriel Last
Title: Director
By: /s/ Ronel Ben-Dov
-----------------------------
Name: Ronel Ben-Dov
Title: Director
DELEK US HOLDINGS, INC.
By: /s/ Ronel Ben-Dov
-----------------------------
Name: Ronel Ben-Dov
Title: Director
By: /s/ Gabriel Last
-----------------------------
Name: Gabriel Last
Title: Director
/s/ Uzi Yemin
----------------------------------------
Uzi Yemin
-2-