UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported):  February 14, 2013
 
Intrepid Potash, Inc.
(Exact name of registrant as specified in its charter)
 
Delaware
 
001-34025
 
26-1501877
(State or other jurisdiction
 of incorporation)
 
(Commission
 file number)
 
(IRS employer
 identification no.)
 
707 17 th  Street, Suite 4200
Denver, Colorado 80202
(Address of principal executive offices, including zip code)
 
(303) 296-3006
(Registrant's telephone number, including area code)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
 
o             Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o             Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o             Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 210.14d-2(b))
 
o             Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 





Item 5.02(e)
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
 
On February 14, 2013, Intrepid Potash, Inc. (“ Intrepid ,” “ we ,” “ us ,” or “ our ”) and Robert P. Jornayvaz III, our Executive Chairman of the Board, entered into a Second Amendment to Employment Agreement (the “ Amendment ”). The Amendment amends the Amended and Restated Employment Agreement, dated as of May 19, 2010, and amended as of February 23, 2011, between us and Mr. Jornayvaz (the “ Employment Agreement ”). The Amendment extends the fixed term of the Employment Agreement by three years to April 18, 2016. All terms and provisions of the Employment Agreement other than those relating to its term remain as described under Item 1.01 of our Current Report on Form 8-K that was filed with the U.S. Securities and Exchange Commission on May 19, 2010.
    
A copy of the Amendment is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
    
Item 9.01
Financial Statements and Exhibits
 
(d)       Exhibits
 
Exhibit No.
 
Description
10.1
 
Second Amendment to Employment Agreement, dated as of February 14, 2013, by and between Intrepid Potash, Inc. and Robert P. Jornayvaz III






SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
INTREPID POTASH, INC.
 
 
 
 
 
Dated: February 19, 2013
By:
/s/ Martin D. Litt
 
 
Martin D. Litt
 
 
Executive Vice President, General Counsel
 and Secretary





EXHIBIT INDEX
Exhibit No.
 
Description
10.1
 
Second Amendment to Employment Agreement, dated as of February 14, 2013, by and between Intrepid Potash, Inc. and Robert P. Jornayvaz III


Exhibit 10.1

    
SECOND AMENDMENT TO EMPLOYMENT AGREEMENT


This SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (this “ Amendment ”) dated February 14, 2013, is entered into between Intrepid Potash, Inc., a Delaware corporation, having its principal executive offices in Denver, Colorado, (the “ Company ”) and Robert P. Jornayvaz III (“ Executive ”).

RECITALS

A.      Executive is the current Executive Chairman of the Board and is serving in such capacity on terms and conditions set forth in an employment agreement with the Company that was amended and restated on May 19, 2010, and further amended on February 23, 2011 (collectively, the “ 2010 Employment Agreement ”).

B.      The current term of the 2010 Employment Agreement expires on April 18, 2013.

C.      Executive and the Company wish to amend the 2010 Employment Agreement to extend the term of the agreement.

AGREEMENT
    
In consideration of the mutual promises and agreements set forth below, the Company and Executive agree as follows:

1.      Paragraph 1 of the 2010 Employment Agreement, regarding the contractual term of employment, is hereby amended and restated, effective April 18, 2013, in its entirety to read as follows:

“      1.      TERM OF AGREEMENT : Subject to the terms of this Amended Agreement, the Company agrees to continue to employ Executive pursuant to this Amended Agreement, and Executive hereby accepts such continued employment pursuant to this Amended Agreement, effective as of May 19, 2010 (the “ Effective Date ”). Executive's employment pursuant to this Amended Agreement shall be extended for a term of 36 months commencing on April 19, 2013, subject to earlier termination as provided in paragraph 4, herein (the “ Term ”).”

2.      Except as expressly modified herein, the terms and conditions of the 2010 Employment Agreement are unchanged and remain in full force and effect.

IN WITNESS WHEREOF, the Company and Executive, intending to be legally bound, have executed this Amendment on the day and year first above written.


INTREPID POTASH, INC.


By: /s/ James N. Whyte     
Name: James N. Whyte
Title: Executive Vice President of     


Human Resources and Risk
Management


ROBERT P. JORNAYVAZ III


/s/ Robert R. Jornayvaz III