Exhibit 10.2
November 11, 2009
Randy Schrick
100 Commercial St.
Atchison, KS 66002
Dear Randy:
Please accept this letter as our mutual understanding of your status with MGP Ingredients, Inc. during our joint venture at the Pekin, IL facility.
· The minimum term of your employment would be through June 30, 2012.
· If your position at Pekin does not work to the joint venture’s satisfaction prior to the above date or a permanent replacement is hired, you would be reinstated to your October 2009 salary and corporate position of VP Engineering.
· You will continue to participate in the MGPI executive stock incentive plan, participate in the MEP bonus plan, ESOP and 401k plans, the Health & Dental program, long term care plan, long term disability plan, and existing base salary.
· Moving expenses to the Pekin area will be provided by MGP Ingredients.
· You will have use of the company vehicle while in Pekin.
We look forward to making this joint venture a tremendous success for all parties involved.
Sincerely, |
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/s/ Tim Newkirk |
| /s/ John Speirs | |
Tim Newkirk |
| John Speirs | |
CEO and President |
| Chairman | |
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Accepted: | /s/ Randy Schrick |
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| Randy Schrick |
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