THIS AGREEMENT (the Agreement) is entered into effective as of January 1, 2001 between RENTECH,
INC., a Colorado corporation (the Company), and Dennis L. Yakobson (the Employee) in consideration of the
a) The Employee is presently employed by the Company as President and Chief Executive Officer.
b) The Board of Directors of the Company recognizes that the Employee has made a substantial contribution to
the growth and success of the Company. The Board believes that it is in the best interests of the Company and its
shareholders for the Company to continue its employment of the Employee. The Board has determined that the
Company should enter into this Agreement to encourage and secure the Employee's continued dedication to the
Company as a member of its management and to retain the experience, abilities and services of the Employee.
C. The Employee is willing to continue to be employed by the Company on the terms and conditions of the
NOW, THEREFORE, in consideration of the background circumstances and the following agreements, the
parties hereto agree as follows:
1. Employment. The Company agrees to employ the Employee and the Employee agrees to perform services for
and continue in the employment of the Company on the terms and conditions set forth in this Agreement.
2. Term. The term of employment will begin on the date of this Agreement and end three years later on
December 31, 2003; provided, however, that beginning on December 31, 2001 and each December 31
thereafter, the term of employment shall automatically be extended each such time, on the same terms and
conditions, for one additional year beyond the end of the then-current term, unless not later than January 15 of
each year starting January 15, 2001 and continuing on each succeeding year, either party has given written notice
to the other party that it elects not to extend the term. For example, unless either the Company or the Employee