As previously disclosed in LSB Industries Inc.'s definitive proxy statement filed April 30, 2015, Tony M. Shelby, the Company's Executive Vice President, retired at the end of 2015. In connection with Mr. Shelby's retirement, on February 22, 2016 the Company and Mr. Shelby entered into a Separation and Release Agreement (the Separation Agreement), effective as of December 31, 2015.