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<B><P ALIGN="left"><font face="Courier New" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SECURITIES AND EXCHANGE COMMISSION<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Washington, D.C.  20549<br>
<br>
<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
FORM 8-K<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CURRENT REPORT<br>
<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PURSUANT TO SECTION 13 OR 15(d) OF THE<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SECURITIES EXCHANGE ACT OF 1934</font></P>
</B>
<P ALIGN="JUSTIFY"><font size="1" face="Courier New">Date of Report (Date of earliest event reported)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>
<b><font size="2" face="Courier New">&nbsp;</font><U><font size="2" face="Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; May
12, 2005&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;
<br>
<br>
</font>
</U><font size="2" face="Courier New">
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u>
</font><U>&nbsp;<font face="Courier New" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; LSB INDUSTRIES, INC.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<br>
</font>
</U>
</b><font face="Courier New" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(Exact name of registrant as specified in its charter)</font></P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=0 WIDTH=637 style="border-collapse: collapse" bordercolor="#111111" height="42">
<TR><TD WIDTH="13" VALIGN="TOP" height="12">
  </TD>
  <TD WIDTH="325" VALIGN="TOP" height="12">
<P ALIGN="left">     <font face="Courier New"><font size="1"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Delaware&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</u>
</font>
<U><font size="1" COLOR="#ffffff">.</font></U></font></TD>
<TD WIDTH="256" VALIGN="TOP" height="12">
<P ALIGN="center">     <font face="Courier New">     <U>       <font size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; 1-7677&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;
</font><font size="1" COLOR="#ffffff">.</font></U></font></TD>
<TD WIDTH="219" VALIGN="TOP" height="12">
<P ALIGN="center">            <U>       <font size="1" face="Courier New">&nbsp;&nbsp; &nbsp;&nbsp; &nbsp; 73-1015226&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; </font></U></TD>
</TR>
<TR><TD WIDTH="13" VALIGN="TOP" height="30">
&nbsp;</TD>
  <TD WIDTH="325" VALIGN="TOP" height="30">
<P align="left"><font size="1" face="Courier New">&nbsp;&nbsp;&nbsp;&nbsp; (State or other jurisdiction<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of incorporation)</font></TD>
<TD WIDTH="256" VALIGN="TOP" height="30">

<P ALIGN="CENTER"><font size="1" face="Courier New">(Commission File <br>
Number)</font></TD>
<TD WIDTH="219" VALIGN="TOP" height="30">

<P ALIGN="CENTER"><font size="1" face="Courier New">(IRS Employer <br>
Identification No.)</font></TD>
</TR>
</TABLE>

<P ALIGN="left"><font face="Courier New" size="1"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
16 South Pennsylvania Avenue, Oklahoma City, Oklahoma&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; </u></font><U>
<font size="1" face="Courier New">&nbsp;73107&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; <br>
</font>
</U><font size="1" face="Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Address of principal
executive offices)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Zip Code)</font></P>
<P ALIGN="left"><font size="1" face="Courier New">Registrant's telephone number, including area code:&nbsp;&nbsp;&nbsp;&nbsp;
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (405) 235-4546&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
<br>
<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Not applicable&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</u>
<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Former name or former address, if changed since last report)<br>
<br>
<br>
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing<br>
obligation of the
registrant under any of the following provisions:</font></P>

<P ALIGN="JUSTIFY"><font face="Courier New" size="1">| __ |&#9;Written communications pursuant to Rule 425 under the Securities Act</font></P>
<P ALIGN="JUSTIFY"><font face="Courier New" size="1">| __ |&#9;Soliciting material pursuant to Rule 14a-12 under the Exchange Act</font></P>
<P ALIGN="JUSTIFY"><font face="Courier New" size="1">| __ |&#9;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act</font></P>
<P ALIGN="JUSTIFY"><font face="Courier New" size="1">| __ |&#9;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act</font></P>

<p class="MsoNormal">
<font size="1" face="Courier New">Section 1 - Registrant's Business and
Operations<br>
<br>
Item 1.01.&nbsp; Entry into a Material Definitive Agreement<br>
<br>
On May 12, 2005, LSB Industries, Inc. (the "Company") entered into a certain
Death Benefit Agreement (the <br>
"Agreement") with Jack E. Golsen, the Chairman and
Chief Executive Officer of the Company. The Agreement <br>
replaces $2.5 million in
death benefits that were payable to Mr. Golsen's family under two insurance
policies <br>
having an aggregate stated death benefit of $5 million that were
purchased by the Company on Mr. Golsen's life <br>
in 1996 and 2002, respectively,
each of which are being cancelled in 2005. The Agreement provides that, upon <br>
Mr. Golsen's death, the Company will pay to Mr. Golsen's family or designated
beneficiary $2.5 million to be <br>
funded upon receipt by the Company of $2.5
million of the net proceeds payable under three whole life insurance <br>
policies
that the Company purchased on Mr. Golsen's life in April 2005.&nbsp; The Company is
the owner and <br>
beneficiary of the three new policies, which provide an aggregate
stated death benefit of $7 million.&nbsp; The <br>
terms of the Agreement require the
Company to keep in existence no less than $2.5 million of the stated death
<br>
benefit.</font></p>
<B>
<U>
<P ALIGN="CENTER"><font face="Courier New" size="1">SIGNATURES</font></P>
</U>
</B>
<P ALIGN="JUSTIFY"><font face="Courier New" size="1">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this
<br>
report to be signed on its behalf by the undersigned hereunto duly authorized.<br>
<br>
Dated: March 18, 2005.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LSB INDUSTRIES, INC.</font></P>
<P ALIGN="JUSTIFY"><font size="1" face="Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:</font><U><font size="1" face="Courier New">
/s/ Tony M. Shelby&nbsp;&nbsp;&nbsp; </font>
</U><font face="Courier New" size="1"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Tony M. Shelby, <br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Executive Vice President and <br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Chief Financial Officer</font></P>
</BODY>
[{"type": "8-K", "sequence": "1", "filename": "lsb8k051805.htm", "description": "LSB 8K DOCUMENT", "secsgml_size_bytes": 11251}]
{"company-data": {"conformed-name": "LSB INDUSTRIES INC", "cik": "0000060714", "assigned-sic": "2810", "irs-number": "731015226", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-07677", "film-number": "05841612"}, "business-address": {"street1": "16 S PENNSYLVANIA", "city": "OKLAHOMA CITY", "state": "OK", "zip": "73101", "phone": "4052354546"}, "mail-address": {"street1": "16 SOUTH PENNSYLVANIA", "city": "OKLAHOMA", "state": "OK", "zip": "73101"}}
SECURITIES AND EXCHANGE COMMISSION
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)
May
12, 2005
LSB INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Delaware
.
1-7677
.
73-1015226
(State or other jurisdiction
of incorporation)
(Commission File
Number)
(IRS Employer
Identification No.)
16 South Pennsylvania Avenue, Oklahoma City, Oklahoma
73107
(Address of principal
executive offices)                                     (Zip Code)
Registrant's telephone number, including area code:
(405) 235-4546
Not applicable
(Former name or former address, if changed since last report)
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:
| __ |	Written communications pursuant to Rule 425 under the Securities Act
| __ |	Soliciting material pursuant to Rule 14a-12 under the Exchange Act
| __ |	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
| __ |	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
Section 1 - Registrant's Business and
Operations
Item 1.01.  Entry into a Material Definitive Agreement
On May 12, 2005, LSB Industries, Inc. (the "Company") entered into a certain
Death Benefit Agreement (the
"Agreement") with Jack E. Golsen, the Chairman and
Chief Executive Officer of the Company. The Agreement
replaces $2.5 million in
death benefits that were payable to Mr. Golsen's family under two insurance
policies
having an aggregate stated death benefit of $5 million that were
purchased by the Company on Mr. Golsen's life
in 1996 and 2002, respectively,
each of which are being cancelled in 2005. The Agreement provides that, upon
Mr. Golsen's death, the Company will pay to Mr. Golsen's family or designated
beneficiary $2.5 million to be
funded upon receipt by the Company of $2.5
million of the net proceeds payable under three whole life insurance
policies
that the Company purchased on Mr. Golsen's life in April 2005.  The Company is
the owner and
beneficiary of the three new policies, which provide an aggregate
stated death benefit of $7 million.  The
terms of the Agreement require the
Company to keep in existence no less than $2.5 million of the stated death
benefit.
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.
Dated: March 18, 2005.
LSB INDUSTRIES, INC.
By:
/s/ Tony M. Shelby
Tony M. Shelby,
Executive Vice President and
Chief Financial Officer