Document:

EX-10.2

 Exhibit 10.2 

EXECUTION VERSION 

MASTER THROUGHPUT AGREEMENT 

(including Tankage and Loading Racks) 

by and between 

HOLLYFRONTIER REFINING & MARKETING LLC 

and 
 HOLLY ENERGY
PARTNERS-OPERATING, L.P. 
 Effective as of January 1, 2015 

 TABLE OF CONTENTS 

 

							
	 ARTICLE 1 DEFINITIONS AND INTERPRETATIONS
	  	 	2	  
			
	 1.1
	 	DEFINITIONS	  	 	2	  
	 1.2
	 	INTERPRETATION	  	 	2	  
		
	ARTICLE 2 AGREEMENT TO USE SERVICES	  	 	2	  
			
	 2.1
	 	INTENT	  	 	2	  
	 2.2
	 	MINIMUM REVENUE COMMITMENTS	  	 	2	  
	 2.3
	 	MEASUREMENT OF SHIPPED VOLUMES	  	 	3	  
	 2.4
	 	VOLUMETRIC GAINS AND LOSSES; LINE FILL; HIGH-API OIL SURCHARGE	  	 	3	  
	 2.5
	 	OBLIGATIONS OF HEP OPERATING	  	 	3	  
	 2.6
	 	DRAG REDUCING AGENTS AND ADDITIVES	  	 	4	  
	 2.7
	 	CHANGE IN THE DIRECTION; PRODUCT SERVICE OR ORIGINATION AND DESTINATION
OF THE PIPELINE SYSTEM	  	 	4	  
	 2.8
	 	NOTIFICATION OF UTILIZATION	  	 	5	  
	 2.9
	 	SCHEDULING AND ACCEPTING MOVEMENT	  	 	5	  
	 2.10
	 	TAXES	  	 	5	  
	 2.11
	 	TIMING OF PAYMENTS	  	 	5	  
	 2.12
	 	INCREASES IN TARIFF RATES	  	 	5	  
	 2.13
	 	REMOVAL OF TANK FROM SERVICE	  	 	5	  
	 2.14
	 	NO GUARANTEED MINIMUM	  	 	5	  
		
	ARTICLE 3 AGREEMENT TO REMAIN SHIPPER	  	 	6	  
		
	ARTICLE 4 NOTIFICATION OF REFINERY SHUT-DOWN OR RECONFIGURATION	  	 	6	  
		
	ARTICLE 5 FORCE MAJEURE	  	 	6	  
		
	ARTICLE 6 AGREEMENT NOT TO CHALLENGE PIPELINE TARIFFS	  	 	6	  
		
	ARTICLE 7 EFFECTIVENESS AND TERM	  	 	7	  
		
	ARTICLE 8 RIGHT TO ENTER INTO A NEW AGREEMENT	  	 	7	  
			
	 8.1
	 	NEGOTIATION PURSUANT TO WRITTEN NOTICE	  	 	7	  
	 8.2
	 	NEGOTIATION IN THE ABSENCE OF WRITTEN NOTICE	  	 	8	  
		
	ARTICLE 9 NOTICES	  	 	8	  
		
	ARTICLE 10 DEFICIENCY PAYMENTS	  	 	8	  
			
	 10.1
	 	DEFICIENCY NOTICE; DEFICIENCY PAYMENTS	  	 	8	  
	 10.2
	 	DISPUTED DEFICIENCY NOTICES	  	 	8	  
	 10.3
	 	PAYMENT OF AMOUNTS NO LONGER DISPUTED	  	 	9	  
	 10.4
	 	CONTRACT QUARTERS INDEPENDENT	  	 	9	  
		
	ARTICLE 11 RIGHT OF FIRST REFUSAL	  	 	9	  
		
	ARTICLE 12 INDEMNITY; LIMITATION OF DAMAGES	  	 	9	  
			
	 12.1
	 	INDEMNITY; LIMITATION OF LIABILITY	  	 	9	  
	 12.2
	 	SURVIVAL	  	 	9	  
		
	ARTICLE 13 MISCELLANEOUS	  	 	9	  
			
	 13.1
	 	AMENDMENTS AND WAIVERS	  	 	9	  

  
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	 13.2
	 	SUCCESSORS AND ASSIGNS	  	 	10	  
	 13.3
	 	SEVERABILITY	  	 	10	  
	 13.4
	 	CHOICE OF LAW	  	 	10	  
	 13.5
	 	RIGHTS OF LIMITED PARTNERS	  	 	10	  
	 13.6
	 	FURTHER ASSURANCES	  	 	10	  
	 13.7
	 	HEADINGS	  	 	10	  
		
	 ARTICLE 14 GUARANTEE BY HOLLYFRONTIER
	  	 	11	  
			
	 14.1
	 	PAYMENT GUARANTY	  	 	11	  
	 14.2
	 	GUARANTY ABSOLUTE	  	 	11	  
	 14.3
	 	WAIVER	  	 	11	  
	 14.4
	 	SUBROGATION WAIVER	  	 	11	  
	 14.5
	 	REINSTATEMENT	  	 	12	  
	 14.6
	 	CONTINUING GUARANTY	  	 	12	  
	 14.7
	 	NO DUTY TO PURSUE OTHERS	  	 	12	  
		
	 ARTICLE 15 GUARANTEE BY THE PARTNERSHIP
	  	 	12	  
			
	 15.1
	 	PAYMENT AND PERFORMANCE GUARANTY	  	 	12	  
	 15.2
	 	GUARANTY ABSOLUTE	  	 	12	  
	 15.3
	 	WAIVER	  	 	13	  
	 15.4
	 	SUBROGATION WAIVER	  	 	13	  
	 15.5
	 	REINSTATEMENT	  	 	13	  
	 15.6
	 	CONTINUING GUARANTY	  	 	13	  
	 15.7
	 	NO DUTY TO PURSUE OTHERS	  	 	14	  

 EXHIBITS 
  

					
	Exhibit A	  	–	  	Definitions
	Exhibit B	  	–	  	Interpretation
	Exhibit C	  	–	  	Applicable Assets, Product, Minimum Capacity Commitment, Tariffs, Tariff
		  		  	Adjustments and Applicable Terms
	Exhibit D	  	–	  	Measurement of Shipped Volumes
	Exhibit E	  	-	  	Volumetric Gains and Losses; Line Fill; High-API Oil Surcharge
	Exhibit F	  	-	  	Increases in Tariff Rates as a Result of Changes in Applicable Law
	Exhibit G	  	-	  	Special Provisions: Malaga Pipeline System
	Exhibit G-1	  	-	  	Map of Pipeline System and Pipeline System Capacity by Segment
	Exhibit G-2	  	–	  	Construction Projects
	Exhibit G-3	  	–	  	Devon Lease Connections
	Exhibit H	  	–	  	Special Provisions: El Dorado Assets
	Exhibit H-1	  	-	  	El Dorado Loading Rack
	Exhibit H-2	  	–	  	El Dorado Tankage
	Exhibit H-3	  	–	  	Specifications for New Tank
	Exhibit I	  	-	  	Special Provisions: Cheyenne Assets
	Exhibit I-1	  	-	  	Cheyenne Loading Rack
	Exhibit I-2	  	-	  	Cheyenne Receiving Assets
	Exhibit I-3	  	–	  	Cheyenne Tankage
	Exhibit I-4	  	–	  	Specification for New Tanks
	Exhibit J	  	–	  	Special Provisions: Tulsa East Assets

  
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	Exhibit J-1	  	-	 	Tulsa Group 1 Loading Rack
	Exhibit J-2	  	-	 	Tulsa Group 1 Pipeline
	Exhibit J-3	  	–	 	Tulsa Group 1 Tankage
	Exhibit J-4	  	–	 	Tulsa Group 2 Loading Rack
	Exhibit J-5	  	–	 	Tulsa Group 2 Tankage
	Exhibit K	  	–	 	Special Provisions: El Dorado Crude Tank Farm Assets
	Exhibit K-1	  	–	 	El Dorado Crude Tankage and Jayhawk Tankage
	Exhibit K-2	  	–	 	El Dorado Terminal Quality Specifications

  
 iii 

 MASTER THROUGHPUT AGREEMENT 

This Master Throughput Agreement (this “Agreement”) is dated as of October 16, 2015, to be effective as of the Effective
Time (as defined below) by and between HOLLYFRONTIER REFINING & MARKETING LLC (“HFRM”) and HOLLY ENERGY PARTNERS-OPERATING, L.P. (“HEP Operating”). Each of HFRM and HEP Operating are collectively referred
to herein as the “Parties.” 
 RECITALS: 

A. In connection with that certain Pipeline Throughput Agreement (Roadrunner), dated as of December 1, 2009, between HFRM (as successor
in interest to Navajo Refining Company, L.L.C. (“Navajo”)) and HEP Operating, HEP Operating agreed to provide certain transportation services for Navajo on the Roadrunner Pipeline, as defined below. 

B. In connection with that certain Loading Rack Throughput Agreement (Lovington), dated as of March 31, 2010, between HFRM (as successor
in interest to Navajo) and HEP Operating (as successor in interest to Holly Energy Storage-Lovington LLC), HEP Operating agreed to provide certain loading services for Navajo with respect to the Lovington Loading Rack, as defined below. 

C. In connection with that Second Amended and Restated Pipelines, Tankage and Loading Rack Throughput Agreement (Tulsa East), dated as of
August 31, 2011, between HFRM (as successor in interest to Holly Refining and Marketing-Tulsa LLC) and HEP Operating (as successor in interest to HEP Tulsa LLC and Holly Energy Storage - Tulsa LLC), HEP Operating agreed to provide certain
transportation, storage and loading services to HFRM with respect to the Tulsa Interconnecting Pipelines, as defined below. 
 D. In
connection with that certain First Amended and Restated Tankage, Loading Rack and Crude Oil Receiving Throughput Agreement (Cheyenne), dated as of January 11, 2012 between HFRM (as successor in interest to Frontier Refining LLC) and HEP
Operating (as successor in interest to Cheyenne Logistics LLC), HEP Operating agreed to provide certain storage and loading services to HFRM with respect to the Cheyenne Assets, as defined below. 

E. In connection with that certain Second Amended and Restated Pipeline Delivery, Tankage and Loading Rack Throughput Agreement (El Dorado),
dated as of January 7, 2014 between HFRM (as successor in interest to Frontier El Dorado Refining LLC) and HEP Operating (as successor in interest to El Dorado Logistics LLC), HEP Operating agreed to provide certain transportation, storage and
loading services to HFRM with respect to the El Dorado Assets, as defined below. 
 F. In connection with that certain Amended and Restated
Transportation Services Agreement (Malaga), dated September 26, 2014, between HFRM and HEP Operating, HEP Operating agreed to provide certain transportation services to HFRM with respect to the Malaga Pipeline System, as defined below. 

G. HEP Operating owns certain other pipelines, tankage and other assets which it desires to utilize to provide transportation, storage and
loading services for HFRM. 
 H. The Parties desire to enter into a master agreement pursuant to which HEP Operating will provide certain
transportation, storage and loading services to HFRM with respect to the Applicable Assets, as defined below, from and after the Effective Time, and from and after the Effective Time such services will no longer be provided pursuant to the Prior
Agreements. 

  
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 NOW, THEREFORE, in consideration of the covenants and obligations contained herein, the Parties
hereby agree as follows: 
 ARTICLE 1 

DEFINITIONS AND INTERPRETATIONS 

1.1 Definitions. Capitalized terms used throughout this Agreement and not otherwise defined herein shall have the meanings set forth on
Exhibit A. 
 1.2 Interpretation. Matters relating to the interpretation of this Agreement are set forth on Exhibit B.

 ARTICLE 2 

AGREEMENT TO USE SERVICES 

2.1 Intent. The Parties intend to be strictly bound by the terms set forth in this Agreement, which sets forth revenues to HEP
Operating to be paid by HFRM, and requires HEP Operating to provide certain transportation, storage and loading services to HFRM. The principal objective of HEP Operating is for HFRM to meet or exceed its obligations with respect to the Minimum
Revenue Commitment. The principal objective of HFRM is for HEP Operating to provide services to HFRM in a manner that enables HFRM to transport, store and/or load Products on, in or at the Applicable Assets. It is the Parties’ further intent
that the terms and provisions of this Agreement shall be effective and govern from and after the Effective Time. Any matter first arising prior to the Effective Time shall be governed by the respective agreement relating thereto referenced in the
Recitals. 
 2.2 Minimum Revenue Commitments. During the Applicable Term and subject to the terms and conditions of this Agreement,
HFRM agrees as follows: 
 (a) Capacity and Revenue Commitment. Subject to Article 4, HFRM shall pay HEP Operating Applicable
Tariffs for use of the Applicable Assets and associated services as provided herein that result in the payment of an amount that will satisfy the Minimum Revenue Commitment in exchange for HEP Operating providing HFRM a minimum capacity in each of
the Applicable Assets equal to the Minimum Capacity Commitment. The “Minimum Revenue Commitment” shall be the aggregate sum of the revenue to HEP Operating for each Contract Quarter determined by multiplying the Minimum Throughput
Commitment for each Applicable Asset for such Contract Quarter, by the Base Tariff for such Applicable Asset in effect for such Contract Quarter. The “Minimum Capacity Commitment” means the amount set forth on Exhibit B for
each Applicable Asset. 
 (b) Applicable Tariffs. HFRM will pay the Applicable Base Tariffs for all quantities of Product
transported, stored or loaded at, on or through the Applicable Assets in each Contract Quarter during the Applicable Term up to and including the Applicable Incentive Tariff Threshold for such Applicable Asset set forth on Exhibit C, shall
pay the Applicable Incentive Tariff for quantities in excess of the Incentive Tariff Threshold and, if applicable, shall pay the Excess Tariff for the Applicable Asset for quantities in excess of the Excess Tariff Threshold. 

(c) Adjustment of Applicable Tariffs. The Applicable Tariffs shall be adjusted in the manner set forth on Exhibit C. To evidence
the Parties’ agreement to each adjusted Applicable Tariff, the Parties may, but shall not be required to, execute an amended, modified, revised or updated Exhibit C and attach it to this Agreement. If executed, such amended, modified,
revised or updated Exhibit C shall be sequentially numbered (e.g. Exhibit C-1, Exhibit C-2, etc.), dated and appended as an additional exhibit to this Agreement and shall replace the prior version of Exhibit
C in its entirety, after its date of effectiveness. 

  
 2 

 (d) Reduction for Non-Force Majeure Operational Difficulties. If HFRM is unable to
transport, store and/or load on, in or at any Applicable Asset the volumes of Products required to meet the Minimum Revenue Commitment for such Applicable Asset for a particular Contract Quarter as a result of HEP Operating’s operational
difficulties, prorationing, or the inability to provide sufficient capacity for the Minimum Throughput Commitment, then the Minimum Revenue Commitment applicable to the Contract Quarter during which HFRM is unable to transport, store and/or load
such volumes of Products will be reduced by an amount equal to: (A) the volume of Products that HFRM was unable to transport, store and/or load on, in or at such Applicable Assets (but not to exceed the Minimum Throughput Commitment), as a
result of HEP Operating’s operational difficulties, prorationing or inability to provide sufficient capacity on the Applicable Assets to achieve the Minimum Throughput Commitment, multiplied by (B) the applicable Base Tariff. This
Section 2.2(d) shall not apply in the event HEP Operating gives notice of a Force Majeure event in accordance with the terms of the Omnibus Agreement, in which case the Minimum Revenue Commitment shall be suspended to the extent
contemplated in Article IX of the Omnibus Agreement. 
 (e) Pro-Rationing for Partial Periods. Notwithstanding the other
portions of this Section 2.2, in the event that the Effective Time is any date other than the first day of a Contract Quarter, then the Minimum Revenue Commitment, Minimum Throughput Commitment, and any applicable Incentive Tariffs for
the initial partial Contract Quarter shall be prorated based upon the number of days actually in such partial Contract Quarter. Similarly, notwithstanding the other portions of this Section 2.2 if the end of the Applicable Term is on a
day other than the last day of a Contract Quarter, then the Minimum Revenue Commitment, Minimum Throughput Commitment, and any applicable Incentive Tariff for the final partial Contract Quarter shall be prorated based upon the number of days
actually in such partial Contract Quarter and the initial Contract Quarter. 
 2.3 Measurement of Shipped Volumes. Matters with
respect to the measurement of shipped volumes are set forth on Exhibit D. 
 2.4 Volumetric Gains and Losses; Line Fill; High-API
Oil Surcharge. Matters with respect to volumetric gains and losses, line fill and high-API oil surcharges are set forth on Exhibit E. 

2.5 Obligations of HEP Operating. During the Applicable Term and subject to the terms and conditions of this Agreement, HEP Operating
agrees to: 
 (a) own or lease, operate and maintain (directly or through a Subsidiary) the Applicable Assets and all related
assets necessary to handle the applicable Products from HFRM; 
 (b) make available for HFRM’s use the capacity of the
Applicable Assets of at least the Minimum Capacity Commitment; 
 (c) provide the services required under this Agreement and
perform all operations relating to the Applicable Assets, including tank gauging, tank maintenance, loading trucks, interaction with third party pipelines and customer interface for access agreements (as applicable) and performance of all operations
and maintenance for the Applicable Assets; 

  
 3 

 (d) maintain adequate property and liability insurance covering the Applicable
Assets and any related assets owned by HEP Operating or its affiliates and necessary for the operation of the Applicable Assets; and 

(e) at the request of HFRM, and subject in any case to any applicable common carrier proration duties and commitments to other
third-party shippers, use commercially reasonable efforts to transport, store and/or load on the Applicable Assets for HFRM each month during the Applicable Term the quantity of Products that HFRM designates from time to time, but in no event less
than the Minimum Capacity Commitment. 
 Notwithstanding the first sentence of this Section 2.5, subject to the dispute resolution provisions of
the Omnibus Agreement and with respect to the Tulsa Applicable Assets, the Tulsa Purchase Agreements, HEP Operating or its Affiliate is free to sell any of its assets, including any Applicable Assets, and HFRM is free to merge with another entity
and to sell all of its assets or equity to another entity at any time. 
 2.6 Drag Reducing Agents and Additives. If HEP Operating
determines that adding drag reducing agents (“DRA”) to the Products is reasonably required to move the Products in the quantities necessary to meet HFRM’s schedule or as may be otherwise be required to safely move such
quantities of Products or that additives should be used in the operation of the Applicable Assets, HEP Operating shall provide HFRM with an analysis of the proposed cost and benefits thereof. In the event that HFRM agrees to use such additives as
proposed by HEP Operating, HFRM shall reimburse HEP Operating for the costs of adding any DRA or additives. If HEP Operating reasonably determines that additives or chemicals must be added to any of the pipelines included in the Applicable Assets to
prevent or control internal corrosion of the pipe, then HFRM shall reimburse HEP Operating for the direct cost of the chemical and associated injection equipment. 

2.7 Change in the Direction; Product Service or Origination and Destination of the Pipeline System. Without HFRM’s prior written
consent (which consent shall not be unreasonably withheld, conditioned or delayed), HEP Operating shall not (i) reverse the direction of flow of any Pipeline; (ii) change, alter or modify the Product service of any Pipeline; or
(iii) change, alter or modify the origination or destination of any Pipeline; provided, however, that HEP Operating may take any necessary emergency action to prevent or remedy a release of Products from a Pipeline without
obtaining the consent required by this Section 2.7. HFRM shall have the right to reverse the direction of flow of any segment of a Pipeline where it is the sole shipper of Products if, in each case, HFRM agrees to (1) reimburse HEP
Operating for the additional costs and expenses incurred by HEP Operating as a result of such change in direction (both to reverse and re-reverse); (2) reimburse HEP Operating for all costs arising out of HEP Operating’s inability to
perform under any transportation service contract due to the reversal of the direction of flow of the Pipeline; and (3) pay the Applicable Tariffs in accordance with this Agreement, for any such flow reversal. With respect to the Malaga
Pipeline System, the foregoing shall apply regardless of whether the Product shipped in such manner reaches an injection point for the Centurion Pipeline or Plains Pipeline. HEP Operating shall not acquire any right, title or interest in the
Products, and all title to and ownership of the Products while the same is in the possession of HEP Operating shall be and shall remain exclusively in HFRM. HEP Operating shall not represent itself to any third party as the owner of any of the
Products and shall hold the same in trust for HFRM. HFRM shall advise HEP Operating in writing of any change in Product ownership while in the Applicable Assets. If any of HFRM’s Product is sold, exchanged, or otherwise changes ownership while
in the Applicable Assets, HFRM shall nonetheless be responsible for the terms and conditions of this Agreement the same as if Products had been owned by HFRM. 

  
 4 

 2.8 Notification of Utilization. Upon request by HEP Operating, HFRM will provide to HEP
Operating written notification of HFRM’s reasonable good faith estimate of its anticipated future utilization of the Applicable Assets as soon as reasonably practicable after receiving such request. 

2.9 Scheduling and Accepting Movement. HEP Operating will use its reasonable commercial efforts to schedule movement and accept
movements of Products in a manner that is consistent with the historical dealings between the Parties and their Affiliates, as such dealings may change from time to time. 

2.10 Taxes. HFRM will pay all taxes, import duties, license fees and other charges by any Governmental Authority levied on or with
respect to the Products handled by HFRM for transportation, storage and/or loading by HEP Operating. Should either Party be required to pay or collect any taxes, duties, charges and or assessments pursuant to any Applicable Law or authority now in
effect or hereafter to become effective which are payable by the any other Party pursuant to this Section 2.10 the proper Party shall promptly reimburse the other Party therefor. 

2.11 Timing of Payments. HFRM will make payments to HEP Operating by electronic payment with immediately available funds on a monthly
basis during the Applicable Term with respect to services rendered or reimbursable costs or expenses incurred by HEP Operating under this Agreement in the prior month. Payments not received by HEP Operating on or prior to the tenth day following the
invoice date will accrue interest at the Prime Rate from the applicable payment date until paid. 
 2.12 Increases in Tariff Rates.
If new Applicable Laws are enacted that require HEP Operating to make capital expenditures with respect to the Applicable Assets, HEP Operating may amend the Applicable Tariffs in the manner set forth in Exhibit F, in order to recover HEP
Operating’s cost of complying with such new Applicable Laws (as determined in good faith and including a reasonable return). HFRM and HEP Operating shall use their reasonable commercial efforts to comply with such new Applicable Laws, and shall
negotiate in good faith to mitigate the impact of such new Applicable Laws and to determine the amount of the new Applicable Tariff rates. If HFRM and HEP Operating are unable to agree on the amount of the new Applicable Tariff rates that HEP
Operating will charge, such Applicable Tariff rates will be resolved in the manner provided for in the Omnibus Agreement. Any other applicable exhibit to this Agreement will be updated, amended or revised, as applicable, in accordance with this
Agreement to reflect any changes in Applicable Tariff rates established in accordance with this Section 2.12. 
 2.13
Removal of Tank from Service. The Parties agree that if a tank included in the Applicable Assets is removed from service, then HEP Operating will not be required to utilize, operate or maintain such tank or provide the services
required under this Agreement with respect to such tank (and there will be no adjustment to the applicable Minimum Revenue Commitment). The Parties acknowledge that provisions relating to the inspection, repair and maintenance of tanks included in
the Applicable Assets are set forth in the Master Lease and Access Agreement, and such provisions are in addition to, and not in substitution of, the terms set forth in this Section 2.13. 

2.14 No Guaranteed Minimum. Notwithstanding anything to the contrary set forth in this Agreement, there is no requirement that HFRM
deliver any minimum quantity of Product for transport, storage, handling or loading on, over or in the Applicable Assets, it being understood that HFRM’s obligation for failing to ship, store or load sufficient quantities of Product to satisfy
the Minimum Revenue Commitment is to make Deficiency Payments as provided in Article 10. 

  
 5 

 ARTICLE 3 

AGREEMENT TO REMAIN SHIPPER 

With respect to any Product that is transported, stored or loaded in connection with any of the Applicable Assets by HFRM, HFRM agrees that it
will continue acting in the capacity of the shipper of any such Product for its own account at all times that such Product is being transported, stored, handled or loaded in the Applicable Assets. 

ARTICLE 4 
 NOTIFICATION
OF REFINERY SHUT-DOWN OR RECONFIGURATION 
 If a Refinery shuts down or the Refinery owner reconfigures the Refinery or any portion of
the Refinery (excluding planned maintenance turnarounds) and HFRM reasonably believes in good faith that such shut down or reconfiguration will jeopardize its ability to satisfy its applicable Minimum Revenue Commitments under this Agreement, then
within 90 days of the delivery of the written notice of the planned shut down or reconfiguration, HFRM shall (A) propose a new Minimum Revenue Commitment under this Agreement, as applicable, such that the ratio of the new applicable Minimum
Revenue Commitment under this Agreement over the anticipated production level following the shut down or reconfiguration will be approximately equal to the ratio of the original applicable Minimum Revenue Commitment under this Agreement over the
original production level and (B) propose the date on which the new Minimum Revenue Commitment under this Agreement shall take effect. Unless objected to by HEP Operating within 60 days of receipt by HEP Operating of such proposal, such new
Minimum Revenue Commitment under this Agreement shall become effective as of the date proposed by HFRM. To the extent that HEP Operating does not agree with HFRM’s proposal, any changes in HFRM’s obligations under this Agreement, or the
date on which such changes will take effect, will be determined pursuant to the dispute resolution provisions of the Omnibus Agreement. Any applicable exhibit to this Agreement will be updated, amended or revised, as applicable, in accordance with
this Agreement to reflect any change in the applicable Minimum Revenue Commitment under this Agreement agreed to in accordance with this Section 4.1. 

ARTICLE 5 
 FORCE MAJEURE

 The rights and obligations of the Parties upon the occurrence of an event of Force Majeure will be determined in the manner set forth
in the Omnibus Agreement; provided that (a) any suspension of the obligations of the Parties under this Agreement as a result of an event of Force Majeure shall extend the Applicable Term (to the extent so affected) for a period equivalent to
the duration of the inability set forth in the Force Majeure Notice, (b) HFRM will be required to pay any amounts accrued and due under this Agreement at the time of the Force Majeure event, and (c) if a Force Majeure event prevents either
Party from performing substantially all of their respective obligations under this Agreement relating to a group of Applicable Assets for a period of more than one (1) year, this Agreement may be terminated as to such Applicable Assets (but not
as to unaffected Applicable Assets) by either Party providing written notice thereof to the other Party. 
 ARTICLE 6 

AGREEMENT NOT TO CHALLENGE PIPELINE TARIFFS 

HFRM agrees to any tariff rate changes for Pipelines in accordance with this Agreement. HFRM agrees (a) not to challenge, nor to cause
their Affiliates to challenge, nor to encourage or recommend to any other Person that it challenge, or voluntarily assist in any way any other Person in challenging, in any 

  
 6 

 
forum, tariffs (including joint tariffs) of HEP Operating (or its Affiliates) that HEP Operating (or its Affiliate) has filed or may file containing rates, rules or regulations that are in effect
at any time during the Applicable Term and regulate the transportation of the Products on any Pipelines, and (b) not to protest or file a complaint, nor cause their Affiliates to protest or file a complaint, nor encourage or recommend to any
other Person that it protest or file a complaint, or voluntarily assist in any way any other Person in protesting or filing a complaint, with respect to regulatory filings that HEP Operating or its Affiliate has made or may make at any time during
the Applicable Term to change tariffs (including joint tariffs) for transportation of Products on any Pipelines, in each case so long as such tariffs, regulatory filings or rates changed do not conflict with the terms of this Agreement. 

ARTICLE 7 
 EFFECTIVENESS
AND APPLICABLE TERM 
 This Agreement shall be effective as to each group of Applicable Assets as of the Effective Time as set forth on
Exhibit C and shall terminate with respect to each group of Applicable Assets as set forth on Exhibit C, unless extended by written mutual agreement of the Parties or as set forth in Article 8 (each, the “Applicable
Term”). The Party desiring to extend this Agreement with respect to any group of Applicable Assets pursuant to this Article 7 shall provide prior written notice to the other Party of its desire to so extend this Agreement; such
written notice shall be provided not more than twenty-four (24) months and not less than the later of twelve (12) months prior to the date of termination of the Applicable Term or ten (10) days after receipt of a written request from
the other Party (which request may be delivered no earlier than twelve (12) months prior to the date of termination of the Applicable Term) to provide any such notice or lose such right. 

ARTICLE 8 
 RIGHT TO
ENTER INTO A NEW AGREEMENT 
 8.1. Negotiation Pursuant to Written Notice. In the event that HFRM provides prior written notice
to HEP Operating of the desire of HFRM to extend this Agreement for a specific group of Applicable Assets by written mutual agreement of the Parties pursuant to Article 7, the Parties shall negotiate in good faith to extend this Agreement by
written mutual agreement with respect to such specific group of Applicable Assets, but, if such negotiations fail to produce a written mutual agreement for extension by a date six months prior to the termination date for such group of Applicable
Assets, then HEP Operating shall have the right to negotiate to enter into one or more throughput, tankage or transportation services agreements for HFRM’s Minimum Capacity Commitment for such Applicable Assets with one or more third parties to
begin after the date of termination, provided, however, that until the end of one year following termination without renewal of this Agreement for such group of Applicable Assets, HFRM will have the right to enter into a new
throughput, tankage or transportation services or transportation services agreement with HEP Operating with respect to its Minimum Capacity Commitment on the date of termination on commercial terms that substantially match the terms upon which HEP
Operating proposes to enter into an agreement with a third party for similar services with respect to all or a material portion of such capacity of such group of Applicable Assets. In such circumstances, HEP Operating shall give HFRM at least
forty-five (45) days prior written notice of any proposed new throughput agreement with a third party, and such notice shall inform HFRM of the fee schedules, tariffs, duration and any other material terms of the proposed third party agreement.
HFRM shall have forty-five (45) days following receipt of such notice to agree to the terms specified in the notice or HFRM shall lose the rights specified by this Section 8.1 with respect to the capacity that is the subject of such
notice. 

  
 7 

 8.2. Negotiation in the Absence of Written Notice. In the event that HFRM fails to provide
prior written notice to HEP Operating of the desire of HFRM to extend this Agreement for a specific group of Applicable Assets by written mutual agreement of the Parties pursuant to Article 7, HEP Operating shall have the right, during the
period from the date of HFRM’s failure to provide written notice pursuant to Article 7 to the date of termination of this Agreement, to negotiate to enter into one or more throughput, tankage or transportation services agreements for
HFRM’s Minimum Capacity Commitment for the such group of Applicable Assets with one or more third parties to begin after the date of termination; provided, however, that at any time during the twelve (12) months prior to the
expiration of the Applicable Term, HFRM will have the right to enter into a new throughput, tankage agreement with HEP Operating with respect to its existing Minimum Capacity Commitment at such time on commercial terms that substantially match the
terms upon which HEP Operating proposes to enter into an agreement with a third party for similar services with respect to all or a material portion of such capacity on such group of Applicable Assets. In such circumstances, HEP Operating shall give
HFRM forty-five (45) days prior written notice of any proposed new agreement with a third party, and such notice shall inform HFRM of the fee schedules, tariffs, duration and any other material terms of the proposed third party agreement and
HFRM shall have forty-five (45) days following receipt of such notice to agree to the terms specified in the notice or HFRM shall lose the rights specified by this Section 8.2 with respect to the capacity that is the subject of such
notice. 
 ARTICLE 9 

NOTICES 
 Any notice or
other communication given under this Agreement shall be in writing and shall be provided in the manner set forth in the Omnibus Agreement. 

ARTICLE 10 
 DEFICIENCY
PAYMENTS 
 10.1 Deficiency Notice; Deficiency Payments. As soon as practicable following the end of each Contract Quarter under
this Agreement, HEP Operating shall deliver to HFRM a written notice (the “Deficiency Notice”) detailing any failure of HFRM to meet any of the Minimum Revenue Commitments set forth on Exhibit C; provided, however,
that HFRM’s obligations pursuant to the Minimum Revenue Commitment shall be assessed on a quarterly basis for the purposes of this Article 10. Notwithstanding the previous sentence, any deficiency owed by HFRM due to its failure to
satisfy any Minimum Revenue Commitment, if any, set forth on Exhibit C, as to any Applicable Asset for a Contract Quarter shall be offset by any revenue owed to HEP Operating in excess of any Minimum Revenue Commitment for such Contract
Quarter set forth on Exhibit C from any other Applicable Asset at the same location. The Deficiency Notice shall (i) specify in reasonable detail the nature of any deficiency and (ii) specify the approximate dollar amount that HEP
Operating believes would have been paid by HFRM to HEP Operating if HFRM had complied with its Minimum Revenue Commitment obligations pursuant to this Agreement (the “Deficiency Payment”). HFRM shall pay the Deficiency Payment to
HEP Operating upon the later of: (A) ten (10) days after their receipt of the Deficiency Notice and (B) thirty (30) days following the end of the related Contract Quarter. 

10.2 Disputed Deficiency Notices. If HFRM disagrees with the Deficiency Notice, then, following the payment of the undisputed portion
of the Deficiency Payment to HEP Operating, if any, HFRM shall send written notice thereof regarding the disputed portion of the Deficiency Payment to HEP Operating. Thereafter, a senior officer of HollyFrontier (on behalf of HFRM) and a senior
officer of the Partnership (on behalf of HEP Operating) shall meet or communicate by telephone at a mutually acceptable time and place, and thereafter as often as they reasonably deem necessary and shall negotiate in good faith to attempt to resolve
any differences that they may have with respect to matters specified in 

  
 8 

 
the Deficiency Notice. During the 30-day period following the payment of the Deficiency Payment, HFRM shall have access to the working papers of HEP Operating relating to the Deficiency Notice.
If such differences are not resolved within thirty (30) days following HFRM’s receipt of the Deficiency Notice, HFRM and HEP Operating shall, within forty-five (45) days following HFRM’s receipt of the Deficiency Notice, submit
any and all matters which remain in dispute and which were properly included in the Deficiency Notice to dispute resolution in accordance with the Omnibus Agreement. 

10.3 Payment of Amounts No Longer Disputed. If it is finally determined pursuant to this Article 10 that HFRM is required to pay
any or all of the disputed portion of the Deficiency Payment, HFRM shall promptly pay such amount to HEP Operating, together with interest thereon at the Prime Rate, in immediately available funds. 

10.4 Contract Quarters Independent. The fact that HFRM has exceeded or fallen short of the Minimum Revenue Commitment with respect to
any Contract Quarter shall not be considered in determining whether HFRM meets, exceeds or falls short of the Minimum Revenue Commitment with respect to any other Contract Quarter, and the amount of any such excess or shortfall shall not be counted
towards or against the Minimum Revenue Commitment with respect to any other Contract Quarter. 
 ARTICLE 11 

RIGHT OF FIRST REFUSAL 

The Parties acknowledge the right of first refusal of HollyFrontier with respect to the Applicable Assets other than the Tulsa Assets as
provided in the Omnibus Agreement, and the right of first refusal of HollyFrontier with respect to the Tulsa Assets as provided in the Tulsa Purchase Agreements. 

ARTICLE 12 
 INDEMNITY;
LIMITATION OF DAMAGES 
 12.1 Indemnity; Limitation of Liability. The Parties acknowledge and agree that the provisions relating
to indemnity and limitation of liability are set forth in the Omnibus Agreement. Notwithstanding anything in this Agreement or the Omnibus Agreement to the contrary and solely for the purpose of determining which of HFRM or HEP Operating shall be
liable in a particular circumstance, neither HFRM or HEP Operating shall be liable to the other Party for any loss, damage, injury, judgment, claim, cost, expense or other liability suffered or incurred (collectively, “Damages”) by
such Party except to the extent set forth in the Omnibus Agreement and to the extent that HFRM or HEP Operating causes such Damages or owns or operates the assets or other property in question responsible for causing such Damages. 

12.2 Survival. The provisions of this Article 12 shall survive the termination of this Agreement. 

ARTICLE 13 

MISCELLANEOUS 
 13.1
Amendments and Waivers. No amendment or modification of this Agreement shall be valid unless it is in writing and signed by the Parties. No waiver of any provision of this Agreement shall be valid unless it is in writing and signed by the
Party against whom the waiver is sought to be enforced. Any of the exhibits to this Agreement may be amended, modified, revised or updated by the Parties if each of the Parties executes an amended, modified, revised or updated exhibit, and attaches
it to this Agreement. Such amended, modified, revised or updated exhibits shall be sequentially numbered (e.g.  

  
 9 

 
Exhibit A-1, Exhibit A-2, etc.), dated and appended as an additional exhibit to this Agreement and shall replace the prior exhibit, in its entirety, after its date of
effectiveness, except as specified therein. No failure or delay in exercising any right hereunder, and no course of conduct, shall operate as a waiver of any provision of this Agreement. No single or partial exercise of a right hereunder shall
preclude further or complete exercise of that right or any other right hereunder. 
 13.2 Successors and Assigns. This Agreement
shall inure to the benefit of, and shall be binding upon, the Parties and their respective successors and permitted assigns. Neither this Agreement nor any of the rights or obligations hereunder shall be assigned without the prior written consent of
HFRM (in the case of any assignment by HEP Operating) or HEP Operating (in the case of any assignment by HFRM), in each case, such consent is not to be unreasonably withheld or delayed; provided, however, that (i) HEP Operating
may make such an assignment (including a partial pro rata assignment) to an Affiliate of HEP Operating without HFRM’s consent, (ii) HFRM may make such an assignment (including a pro rata partial assignment) to an Affiliate of
HFRM without HEP Operating’s consent, (iii) HFRM may make a collateral assignment of its rights and obligations hereunder and/or grant a security interest in its rights and obligations hereunder, and HEP Operating shall execute an
acknowledgement of such collateral assignment in such form as may from time-to-time be reasonably requested, and (iv) HEP Operating may make a collateral assignment of its rights hereunder and/or grant a security interest in its rights and
obligations hereunder to a bona fide third party lender or debt holder, or trustee or representative for any of them, without HFRM’s consent, if such third party lender, debt holder or trustee shall have executed and delivered to HFRM a
non-disturbance agreement in such form as is reasonably satisfactory to HFRM and such third party lender, debt holder or trustee, and HFRM executes an acknowledgement of such collateral assignment in such form as may from time to time be reasonably
requested. Any attempt to make an assignment otherwise than as permitted by the foregoing shall be null and void. The Parties agree to require their respective successors, if any, to expressly assume, in a form of agreement reasonably acceptable to
the other Parties, their obligations under this Agreement. 
 13.3 Severability. If any provision of this Agreement shall be held
invalid or unenforceable by a court or regulatory body of competent jurisdiction, the remainder of this Agreement shall remain in full force and effect. 

13.4 Choice of Law. This Agreement shall be subject to and governed by the laws of the State of Delaware, excluding any
conflicts-of-law rule or principle that might refer the construction or interpretation of this Agreement to the laws of another state. 

13.5 Rights of Limited Partners. The provisions of this Agreement are enforceable solely by the Parties, and no limited partner of the
Partnership shall have the right, separate and apart from the Partnership, to enforce any provision of this Agreement or to compel any Party to comply with the terms of this Agreement. 

13.6 Further Assurances. In connection with this Agreement and all transactions contemplated by this Agreement, each signatory Party
hereto agrees to execute and deliver such additional documents and instruments and to perform such additional acts as may be necessary or appropriate to effectuate, carry out and perform all of the terms, provisions and conditions of this Agreement
and all such transactions. 
 13.7 Headings. Headings of the Sections of this Agreement are for convenience of the Parties only and
shall be given no substantive or interpretative effect whatsoever. All references in this Agreement to Sections are to Sections of this Agreement unless otherwise stated. 

  
 10 

 ARTICLE 14 

GUARANTEE BY HOLLYFRONTIER 

14.1 Payment Guaranty. HollyFrontier unconditionally, absolutely, continually and irrevocably guarantees, as principal and not as
surety, to HEP Operating the punctual and complete payment in full when due of all amounts due from HFRM under this Agreement (collectively, the “HFRM Payment Obligations”). HollyFrontier agrees that HEP Operating shall be entitled
to enforce directly against HollyFrontier any of the HFRM Payment Obligations. 
 14.2 Guaranty Absolute. HollyFrontier hereby
guarantees that the HFRM Payment Obligations will be paid strictly in accordance with the terms of the Agreement. The obligations of HollyFrontier under this Agreement constitute a present and continuing guaranty of payment, and not of collection or
collectability. The liability of HollyFrontier under this Agreement shall be absolute, unconditional, present, continuing and irrevocable irrespective of: 

(a) any assignment or other transfer of this Agreement or any of the rights thereunder of HEP Operating; 

(b) any amendment, waiver, renewal, extension or release of or any consent to or departure from or other action or inaction
related to this Agreement; 
 (c) any acceptance by HEP Operating of partial payment or performance from HFRM; 

(d) any bankruptcy, insolvency, reorganization, arrangement, composition, adjustment, dissolution, liquidation or other like
proceeding relating to HFRM or any action taken with respect to this Agreement by any trustee or receiver, or by any court, in any such proceeding; 

(e) any absence of any notice to, or knowledge of, HollyFrontier, of the existence or occurrence of any of the matters or
events set forth in the foregoing subsections (i) through (iv); or 
 (f) any other circumstance which might otherwise
constitute a defense available to, or a discharge of, a guarantor. 
 The obligations of HollyFrontier hereunder shall not be subject to any
reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by
reason of the invalidity, illegality or unenforceability of the HFRM Payment Obligations or otherwise. 
 14.3 Waiver. HollyFrontier
hereby waives promptness, diligence, all setoffs, presentments, protests and notice of acceptance and any other notice relating to any of the HFRM Payment Obligations and any requirement for HEP Operating to protect, secure, perfect or insure any
security interest or lien or any property subject thereto or exhaust any right or take any action against HFRM, any other entity or any collateral. 

14.4 Subrogation Waiver. HollyFrontier agrees that for so long as there is a current or ongoing default or breach of this Agreement by
HFRM, HollyFrontier shall not have any rights (direct or 

  
 11 

 
indirect) of subrogation, contribution, reimbursement, indemnification or other rights of payment or recovery from HFRM for any payments made by HollyFrontier under this Article 14, and
HollyFrontier hereby irrevocably waives and releases, absolutely and unconditionally, any such rights of subrogation, contribution, reimbursement, indemnification and other rights of payment or recovery it may now have or hereafter acquire against
HFRM during any period of default or breach of this Agreement by HFRM until such time as there is no current or ongoing default or breach of this Agreement by HFRM. 

14.5 Reinstatement. The obligations of HollyFrontier under this Article 14 shall continue to be effective or shall be
reinstated, as the case may be, if at any time any payment of any of the HFRM Payment Obligations is rescinded or must otherwise be returned to HFRM or any other entity, upon the insolvency, bankruptcy, arrangement, adjustment, composition,
liquidation or reorganization of HFRM or such other entity, or for any other reason, all as though such payment had not been made. 
 14.6
Continuing Guaranty. This Article 14 is a continuing guaranty and shall (i) remain in full force and effect until the first to occur of the indefeasible payment in full of all of the HFRM Payment Obligations, (ii) be binding
upon HollyFrontier, its successors and assigns and (iii) inure to the benefit of and be enforceable by HEP Operating and its respective successors, transferees and assigns. 

14.7 No Duty to Pursue Others. It shall not be necessary for HEP Operating (and HollyFrontier hereby waives any rights which
HollyFrontier may have to require HEP Operating), in order to enforce such payment by HollyFrontier, first to (i) institute suit or exhaust its remedies against HFRM or others liable on the HFRM Payment Obligations or any other person,
(ii) enforce HEP Operating’s rights against any other guarantors of the HFRM Payment Obligations, (iii) join HFRM or any others liable on the HFRM Payment Obligations in any action seeking to enforce this Article 14,
(iv) exhaust any remedies available to HEP Operating against any security which shall ever have been given to secure the HFRM Payment Obligations, or (v) resort to any other means of obtaining payment of the HFRM Payment Obligations. 

ARTICLE 15 
 GUARANTEE BY
THE PARTNERSHIP 
 15.1 Payment and Performance Guaranty. The Partnership unconditionally, absolutely, continually and
irrevocably guarantees, as principal and not as surety, to HFRM the punctual and complete payment in full when due of all amounts due from HEP Operating under this Agreement (collectively, the “HEP Operating Payment Obligations”)
and the punctual and complete performance of all other obligations of HEP Operating under this Agreement (collectively, the “HEP Operating Performance Obligations”, together with the HEP Operating Payment Obligations, the
“HEP Operating Obligations”). The Partnership agrees that HFRM shall be entitled to enforce directly against the Partnership any of the HEP Operating Obligations. 

15.2 Guaranty Absolute. The Partnership hereby guarantees that the HEP Operating Payment Obligations will be paid, and the HEP
Performance Obligations will be performed, strictly in accordance with the terms of this Agreement. The obligations of the Partnership under this Agreement constitute a present and continuing guaranty of payment and performance, and not of
collection or collectability. The liability of the Partnership under this Agreement shall be absolute, unconditional, present, continuing and irrevocable irrespective of: 

(a) any assignment or other transfer of this Agreement or any of the rights thereunder of HFRM; 

  
 12 

 (b) any amendment, waiver, renewal, extension or release of or any consent to or
departure from or other action or inaction related to this Agreement; 
 (c) any acceptance by HFRM of partial payment or
performance from HEP Operating; 
 (d) any bankruptcy, insolvency, reorganization, arrangement, composition, adjustment,
dissolution, liquidation or other like proceeding relating to HEP Operating or any action taken with respect to this Agreement by any trustee or receiver, or by any court, in any such proceeding; 

(e) any absence of any notice to, or knowledge of, the Partnership, of the existence or occurrence of any of the matters or
events set forth in the foregoing subsections (i) through (iv); or 
 (f) any other circumstance which might otherwise
constitute a defense available to, or a discharge of, a guarantor. 
 The obligations of the Partnership hereunder shall not be subject to
any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever
by reason of the invalidity, illegality or unenforceability of the HEP Operating Obligations or otherwise. 
 15.3 Waiver. The
Partnership hereby waives promptness, diligence, all setoffs, presentments, protests and notice of acceptance and any other notice relating to any of the HEP Operating Payment Obligations and any requirement for HFRM to protect, secure, perfect or
insure any security interest or lien or any property subject thereto or exhaust any right or take any action against HEP Operating, any other entity or any collateral. 

15.4 Subrogation Waiver. The Partnership agrees that for so long as there is a current or ongoing default or breach of this Agreement
by HEP Operating, the Partnership shall not have any rights (direct or indirect) of subrogation, contribution, reimbursement, indemnification or other rights of payment or recovery from HEP Operating for any payments made by the Partnership under
this Article 15, and each of the Partnership hereby irrevocably waives and releases, absolutely and unconditionally, any such rights of subrogation, contribution, reimbursement, indemnification and other rights of payment or recovery it may
now have or hereafter acquire against HEP Operating during any period of default or breach of this Agreement by HEP Operating until such time as there is no current or ongoing default or breach of this Agreement by HEP Operating. 

15.5 Reinstatement. The obligations of the Partnership under this Article 15 shall continue to be effective or shall be
reinstated, as the case may be, if at any time any payment of any of the HEP Operating Payment Obligations is rescinded or must otherwise be returned to HEP Operating or any other entity, upon the insolvency, bankruptcy, arrangement, adjustment,
composition, liquidation or reorganization of HEP Operating or such other entity, or for any other reason, all as though such payment had not been made. 

15.6 Continuing Guaranty. This Article 15 is a continuing guaranty and shall (i) remain in full force and effect until the
first to occur of the indefeasible payment and/or performance in full of all of the HEP Operating Payment Obligations, (ii) be binding upon the Partnership and each of its respective successors and assigns and (iii) inure to the benefit of
and be enforceable by HFRM and their respective successors, transferees and assigns. 

  
 13 

 15.7 No Duty to Pursue Others. It shall not be necessary for HFRM (and the Partnership
hereby waives any rights which the Partnership may have to require HFRM), in order to enforce such payment by the Partnership, first to (i) institute suit or exhaust its remedies against HEP Operating or others liable on the HEP Operating
Obligations or any other person, (ii) enforce HFRM’s rights against any other guarantors of the HEP Operating Obligations, (iii) join HEP Operating or any others liable on the HEP Operating Obligations in any action seeking to enforce
this Article 15, (iv) exhaust any remedies available to HFRM against any security which shall ever have been given to secure the HEP Operating Obligations, or (v) resort to any other means of obtaining payment of the HEP Operating
Obligations. 
 [Remainder of page intentionally left blank. Signature pages follow.] 

  
 14 

 IN WITNESS WHEREOF, the undersigned Parties have executed this Agreement as of the date first
written above to be effective as of the Effective Time. 
  

			
	HEP OPERATING:
	
	Holly Energy Partners-Operating, L.P.
		
	By:	 	 /s/ Bruce R. Shaw

		 	Bruce R. Shaw
		 	President
	
	HFRM:
	
	HollyFrontier Refining & Marketing LLC
		
	By:	 	 /s/ Michael C. Jennings

		 	Michael C. Jennings
		 	Chief Executive Officer and President

 [Signature Page 1 of 2 to the Master Throughput Agreement] 

			
	ACKNOWLEDGED AND AGREED
	FOR PURPOSES OF Section 10.2
	AND Article 14:
	
	HOLLYFRONTIER CORPORATION
		
	By:	 	 /s/ Michael C. Jennings

		 	Michael C. Jennings
		 	Chief Executive Officer and President
	
	ACKNOWLEDGED AND AGREED
	FOR PURPOSES OF Section 10.2
	AND Article 15:
	
	HOLLY ENERGY PARTNERS, L.P.
		
	By:	 	HEP Logistics Holdings, L.P.,
		 	its General Partner
		
	By:	 	Holly Logistic Services, L.L.C.,
		 	its General Partner
		
	By:	 	 /s/ Bruce R. Shaw

		 	Bruce R. Shaw
		 	President

 [Signature Page 2 of 2 to the Master Throughput Agreement] 

 Exhibit A 

to 
 Master Throughput
Agreement 
  
  

Definitions 

“Actual Construction Costs” has the meaning set forth in Exhibit C. 

“Affiliate” means, with to respect to a specified person, any other person controlling, controlled by or under common control
with that first person. As used in this definition, the term “control” includes (i) with respect to any person having voting securities or the equivalent and elected directors, managers or persons performing similar functions, the
ownership of or power to vote, directly or indirectly, voting securities or the equivalent representing 50% or more of the power to vote in the election of directors, managers or persons performing similar functions, (ii) ownership of 50% or
more of the equity or equivalent interest in any person and (iii) the ability to direct the business and affairs of any person by acting as a general partner, manager or otherwise. Notwithstanding the foregoing, for purposes of this Agreement,
HFRM, on the one hand, and HEP Operating, on the other hand, shall not be considered affiliates of each other. 

“Agreement” has the meaning set forth in the preamble to this Agreement. 

“API” means the American Petroleum Institute. 

“API 653” means the Above Ground Storage Tank Inspector Program issued by the API as API Standard 653, as amended and
supplemented from time to time. 
 “API Gravity” means the API index of specific gravity of a liquid petroleum expressed as
degrees, as such index would be calculated on the date hereof. 
 “Applicable Asset” means each of the Cheyenne Assets, El
Dorado Assets, Lovington Loading Rack, Malaga Pipeline System, Roadrunner Pipeline, Tulsa Assets and El Dorado Crude Tank Farm Assets individually; and “Applicable Assets” means all of the foregoing assets, collectively. 

“Applicable Law” means any applicable statute, law, regulation, ordinance, rule, judgment, rule of law, order, decree,
permit, approval, concession, grant, franchise, license, agreement, requirement, or other governmental restriction or any similar form of decision of, or any provision or condition of any permit, license or other operating authorization issued under
any of the foregoing by, or any determination of, any Governmental Authority having or asserting jurisdiction over the matter or matters in question, whether now or hereafter in effect and in each case as amended (including, without limitation, all
of the terms and provisions of the common law of such Governmental Authority), as interpreted and enforced at the time in question. 

“Applicable Tariff” means the Base Tariff and, to the extent applicable, the Incentive Tariff. 

“Applicable Term” has the meaning set forth in Article 7. 

“ASTM” means ASTM International. 

“Barrel” means 42 Gallons. 

  
 Exhibit A-1 

 “Base Tariff” means the Base Tariff applicable to the quantity of Product
transported, stored or loaded in connection with an Applicable Asset as set forth on Exhibit C, as such Base Tariff may be adjusted pursuant to the terms of this Agreement. 

“bpd” means Barrels per day. 

“Business Day” means any day other than Saturday, Sunday or other day upon which commercial banks
in Dallas, Texas are authorized by law to close. 
 “Centurion Pipeline” means that certain 10” pipeline system
operated by Centurion Pipeline L.P. and originating from Centurion’s Artesia Station located within Township 18S and Range 27E, approximately 1 mile south of HEP Operating’s Abo Station. 

“Cheyenne Assets” means the Cheyenne Receiving Assets, Cheyenne Loading Rack and the Cheyenne Tankage. 

“Cheyenne Loading Rack” means the refined products truck loading rack and the two (2) propane loading spots located at
the Refinery and more specifically described in Exhibit I-1 attached hereto. 
 “Cheyenne Receiving Assets” means
the pipelines set forth on Exhibit I-2. 
 “Cheyenne RCRA Order” means the administrative order set forth in
Exhibit I. 
 “Cheyenne Tankage” means the tanks set forth on Exhibit I-3. 

“Claim” means any existing or threatened future claim, demand, suit, action, investigation, proceeding, governmental action
or cause of action of any kind or character (in each case, whether civil, criminal, investigative or administrative), known or unknown, under any theory, including those based on theories of contract, tort, statutory liability, strict liability,
employer liability, premises liability, products liability, breach of warranty or malpractice. 
 “Closing Date” has the
meaning for each Applicable Asset set forth in the Omnibus Agreement. 
 “Construction Projects” has the meaning set forth
in Article 2. 
 “Contract Quarter” means a three-month period that commences on
January 1, April 1, July 1 or October 1 and ends on March 31, June 30, September 30, or December 31, respectively. 

“Control” (including with correlative meaning, the term “controlled by”) means, as used with respect to any Person,
the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise. 

“Crude Agreement” means the Third Amended and Restated Crude Pipelines and Tankage Agreement, dated as of March 12,
2015, by and among HFRM, HEP Operating and certain other Affiliates of HFRM and HEP Operating. 
 “Crude Oil” means the
direct liquid product of oil wells, oil processing plants, the indirect liquid petroleum products of oil or gas wells, oil sands or a mixture of such products, but does not include natural gas liquids, Refined Products, naphtha, gas oil, LEF (lube
extraction feedstocks) or any other refined products. 
 “Deficiency Notice” has the meaning set forth in
Section 10.1. 

  
 Exhibit A-2 

 “Deficiency Payment” has the meaning set forth in Section 10.1. 

“Devon” means Devon Energy Production Company, L.P., and its Affiliates. 

“Devon Lease Connections” has the meaning set forth in Exhibit G-3. 

“DRA” has the meaning set forth in Section 2.6. 

“Effective Time” means 12:01 a.m., Dallas, Texas time, on January 1, 2015. 

“El Dorado Assets” means the El Dorado Loading Rack and the El Dorado Tankage. 

“El Dorado Crude Tank Farm Assets” means the El Dorado Delivery Lines and the El Dorado Crude Tankage. 

“El Dorado Crude Tank Farm Consideration Period” has the meaning set forth in Exhibit K. 

“El Dorado Crude Tank Farm Quality Specifications” has the meaning set forth in Exhibit K. 

“El Dorado Crude Tankage” means the tankage identified on Exhibit K-1. 

“El Dorado Delivery Lines” has the meaning set forth in Exhibit K. 

“El Dorado Minimum Working Capacity” has the meaning set forth in Exhibit K. 

“El Dorado Quality Specifications” means those specifications set forth in Exhibit K-2. 

“El Dorado Terminal” means the tank farm owned by HEP Operating and located in El Dorado, Kansas. 

“El Dorado Loading Rack” means the Refined Products truck loading rack and the propane loading rack located at the El Dorado
Refinery and more specifically described on Exhibit H-1. 
 “El Dorado Tankage” means the tanks set forth on Exhibit
H-2. 
 “Environmental Law” has the meaning set forth in the Omnibus Agreement. 

“Excess Tariff Threshold” has the meaning set forth in Exhibit C. 

“Exercise Notice” has the meaning set forth in Exhibit F. 

“FERC Oil Pipeline Index” has the meaning set forth in Section 3(a)(iii)(B). 

“Final Construction Cost” has the meaning set forth in Exhibit I. 

“Force Majeure” has the meaning set forth in the Omnibus Agreement. 

“Force Majeure Notice” has the meaning set forth in the Omnibus Agreement. 

“Gallon” means a United States gallon of two hundred thirty-one (231) cubic inches of liquid at sixty degrees
(60°) Fahrenheit, and at the equivalent vapor pressure of the liquid. 

  
 Exhibit A-3 

 “Governmental Authority” means any federal, state, local or foreign government
or any provincial, departmental or other political subdivision thereof, or any entity, body or authority exercising executive, legislative, judicial, regulatory, administrative or other governmental functions or any court, department, commission,
board, bureau, agency, instrumentality or administrative body of any of the foregoing. 
 “Heavy Products” means fuel oil,
asphalt, coker feed, vacuum tower bottoms, atmospheric tower bottoms, pitch or roofing flux. 
 “HEP Operating” has the
meaning set forth in the Preamble. 
 “HEP Operating Payment Obligations” has the meaning set forth in
Section 15.1. 
 “HFRM” has the meaning set forth in the Preamble. 

“HFRM Payment Obligations” has the meaning set forth in Section 14.1. 

“High-API Surcharge” has the meaning set forth in Section 2.4. 

“HollyFrontier” means HollyFrontier Corporation, a Delaware corporation. 

“Holly Tulsa” means Holly Refining & Marketing – Tulsa LLC. 

“Incentive Tariff” means the Incentive Tariff applicable to the quantity of Product transported, stored or loaded in
connection with an Applicable Asset as set forth on Exhibit C, as such Incentive Tariff may be adjusted pursuant to the terms of this Agreement. 

“Intermediate Products” means non-finished intermediate products, including high sulfur diesel fuel for DHT feed, jet fuel,
naphtha for reformer feed, gas oil or LEF for FCC feed, reformate, light straight run, hydrogen, fuel gas and sour fuel gas. 

“Jayhawk” means Jayhawk Pipeline, L.L.C. (or its successors to the Jayhawk Tankage). 

“Jayhawk Lease” means the lease between HEP-Operating and Jayhawk for the Jayhawk Tankage in existence as of the commencement
of the Applicable Term. 
 “Jayhawk Tankage” means the tankage identified in Exhibit K-1. 

“Lovington Loading Rack” means that certain asphalt loading rack located at the Lovington, New Mexico refinery. 

“LPG Products” means propane, refinery grade propylene, normal butane and isobutane. 

“Malaga Capacity Estimate” has the meaning set forth in Exhibit G. 

“Malaga Commencement Date” means the date on which, in the reasonable opinion of HEP Operating, the Malaga Pipeline System is
available for service and operating as expected in delivering Crude Oil, which date has been specified in written notice from HEP Operating to HFRM at least 60 days prior to the Malaga Commencement Date; provided, however, that if the Malaga
Pipeline System is, in the discretion of HEP Operating, substantially complete, then the parties may agree in writing to a commencement date prior to the Malaga Pipeline System being fully completed. 

  
 Exhibit A-4 

 “Malaga Construction Projects” has the meaning set forth in Exhibit G.

 “Malaga Exercise Notice” has the meaning set forth in Exhibit G. 

“Malaga Initial Period” means the period beginning on the Malaga Commencement Date through and including final day of the 20th full Contract Quarter following the Malaga Commencement Date. 
 “Malaga Pipeline
System” means the pipeline systems (a) extending from the (i) Whites City Road Station to the HEP Operating Artesia Station, from (ii) Devon Parkway field to the Millman Station and the HEP Operating Artesia Station,
(iii) HEP Operating Artesia Station to the Beeson Station, (iv) the Beeson Station to the Anderson Ranch Pipeline, (v) Devon Hackberry field to the Beeson Station, and (v) Beeson Station to the Plains Pipeline, including in each
case all related lease connection pipelines, storage facilities, crude oil gathering tanks, and truck off-loading facilities, as depicted on Exhibit G-1 (Map of Pipeline System and Pipeline System Capacity by Segment), and (b) with the
volume capacities as set forth on Exhibit G-1, described on Exhibit G-2 (Construction Projects) and described on Exhibit G-3 (Devon Lease Connections). 

“Master Lease and Access Agreement” means that certain Master Lease and Access Agreement dated as of the date hereof among
certain of the Affiliates of HEP Operating and the owners of the Refineries. 
 “Minimum Capacity Commitment” has the
meaning set forth in Section 2.2(a). 
 “Minimum Revenue Commitment” has the meaning set forth in
Section 2.2(a). 
 “Minimum Throughput Commitment” means the quantity of Product to be transported, stored or
loaded in connection with an Applicable Asset, as set forth on Exhibit C, as such amount may be adjusted pursuant to the terms of this Agreement. 

“MSCFD” means thousands of cubic feet per day. 

“MVP Pipeline” has the meaning set forth in Exhibit K. 

“Navajo” has the meaning set forth in the Preamble. 

“New Tank” means the new petroleum products storage tankage to be added to the Applicable Assets as identified on
Exhibits H and I. 
 “New Tank Commencement Date” means, with respect to each New Tank, the first day of
the calendar month after the date on which, in the reasonable opinion of HEP Operating, such New Tank is mechanically complete, available for service and operating as expected in storing the Product for which such New Tank was designed, which date
has been specified in written notice from HEP Operating to HFRM at least 30 days prior to such date. 
 “Omnibus Agreement”
means the Twelfth Amended and Restated Omnibus Agreement, dated as of the date hereof. 
 “Osage Pipeline” has the meaning
set forth in Exhibit K. 
 “Parties” has the meaning set forth in the Preamble. 

“Partnership” means Holly Energy Partners, L.P., a Delaware limited partnership. 

  
 Exhibit A-5 

 “Party” has the meaning set forth in the Preamble. 

“Person” means an individual or a corporation, limited liability company, partnership, joint venture, trust, unincorporated
organization, association, government agency or political subdivision thereof or other entity. 
 “Pipelines” means the
Malaga Pipeline System, Roadrunner Pipeline, the Tulsa Pipelines, the Tulsa Interconnecting Pipelines, and the El Dorado Delivery Lines, and any other pipeline included in the Applicable Assets. 

“Plains Pipeline” means that certain 16” diameter pipeline operated by Plains All American Pipeline, L. P. and located
in Lea County, New Mexico and which crosses the HEP Anderson Ranch gathering system in Township 18 South, Range 32 East. 
 “Prime
Rate” means the prime rate per annum announced by Union Bank, N.A., or if Union Bank, N.A. no longer announces a prime rate for any reason, the prime rate per annum announced by the largest U.S. bank measured by deposits from time to time
as its base rate on corporate loans, automatically fluctuating upward or downward with each announcement of such prime rate. 

“Prior Agreements” means those agreements set forth in Recitals A through F. For the avoidance of doubt, “Prior
Agreements” do not include the following agreements (as amended, modified or supplemented and in effect from time to time): (a) Amended and Restated Intermediate Pipelines Agreement dated June 1, 2009, (b) Tulsa Equipment and
Throughput Agreement dated August 1, 2009, (c) Amended and Restated Refined Product Pipelines and Terminals Agreement effective February 1, 2009, (d) Second Amended and Restated Throughput Agreement effective June 1, 2013,
(e) Third Amended and Restated Crude Pipelines and Tankage Agreement dated March 12, 2015, and (f) Unloading and Blending Services Agreement (Artesia) dated March 12, 2015. 

“Products” has the meaning set forth in Exhibit C. 

“Qualified Third-Party Throughput” has the meaning set forth in Exhibit C. 

“Red Rock Pipeline” has the meaning set forth in Exhibit K. 

“Refined Products” means gasoline, kerosene, ethanol and diesel fuel. 

“Refinery” means the Lovington, New Mexico refinery owned by Navajo; the El Dorado, Kansas refinery owned by Frontier El
Dorado; the Cheyenne, Wyoming refinery owned by Frontier Refining; and the Tulsa, Oklahoma refinery owned by Holly Tulsa. 

“Roadrunner Pipeline” means that certain 16” crude oil pipeline extending approximately 65 miles from the Slaughter
station to Lovington, New Mexico. 
 “Subsequent Year” has the meaning set forth in Exhibit G. 

“Subsidiary” means with respect to any Person (the “Owner”), any corporation or other Person of which
securities or other interests having the power to elect a majority of that corporation’s or other Person’s board of directors or similar governing body, or otherwise having the power to direct the business and policies of that corporation
or other Person (other than securities or other interest having such power only upon the happening of a contingency that has not occurred), are held by the Owner or one or more of its Subsidiaries. 

  
 Exhibit A-6 

 “Surcharge Tariff” has the meaning set forth in Exhibit C. 

“SUS” means Saybolt Universal Seconds as specified by ASTM Standard D2161-10, as amended, supplemented or replaced from time
to time. 
 “Tulsa Assets” means the Tulsa Group 1 Tankage, Tulsa Group 1 Loading Rack, Tulsa Group 1 Pipeline, Tulsa Group
2 Tankage, Tulsa Group 2 Loading Rack and the Tulsa Interconnecting Pipelines. 
 “Tulsa East Refinery” means the refinery
owned by Holly Tulsa and located at 905 West 25th Street, Tulsa, Oklahoma 74107. 

“Tulsa Group 1 Purchase Agreement” means that certain Asset Sale and Purchase Agreement dated as of October 1, 2009 by
and among Holly Tulsa, HEP Tulsa LLC and Holly Energy Storage – Tulsa. 
 “Tulsa Group 1 Loading Rack” means the gas
oil, asphalt and propane truck loading racks located at the Tulsa West Refinery and more specifically described in Exhibit J-1 attached hereto. 

“Tulsa Group 1 Tankage” means the tankage identified in Exhibit J-3 attached hereto. 

“Tulsa Group 2 Purchase Agreement” means that certain LLC Interest Purchase Agreement dated as of March 31, 2010 by and
between HEP Tulsa LLC, Lea Refining Company, and Holly Tulsa. 
 “Tulsa Group 2 Tankage” means the tankage identified in
Exhibit J-5. 
 “Tulsa Group 2 Loading Rack” means the rail loading rack located at the Tulsa West Refinery and more
specifically described in Exhibit J-4. 
 “Tulsa Interconnecting Pipelines” means the following pipelines between
the Tulsa East Refinery and the Tulsa West Refinery: 1) the 12 inch raw gas oil/diesel line (the “Distillate Interconnecting Pipeline”), 2) the 12 inch naphtha/gasoline component line (the “Gasoline Interconnecting
Pipeline”), 3) the 12 inch refinery fuel gas line (the “Refinery Fuel Gas Interconnecting Pipeline”), 4) the 8 inch hydrogen line (the “Hydrogen Interconnecting Pipeline”), and 5) the 10 inch refinery
sour fuel gas line (the “Refinery Sour Fuel Gas Interconnecting Pipeline”) including delivery facilities from the Tulsa West Refinery and receipt facilities at the Tulsa East Refinery for the Distillate and Gasoline Interconnecting
Pipelines, but not for the Refinery Fuel Gas, Hydrogen, and Refinery Sour Fuel Gas Interconnecting Pipelines. 
 “Tulsa Group 1
Pipeline” means those two (2) product delivery lines extending from the Group 1 Tankage to interconnection points with the Magellan pipeline as more specifically described in Exhibit J-2 attached hereto. 

“Tulsa Purchase Agreements” means the Tulsa Group 1 Purchase Agreement and the Tulsa Group 2 Purchase Agreement. 

“Tulsa West Refinery” means the refinery owned by Holly Tulsa located at 1700 S. Union, Tulsa, Oklahoma. 

“Working Capacity” has the meaning set forth in Exhibit K. 

  
 Exhibit A-7 

 Exhibit B 

to 
 Master Throughput
Agreement 
  
  

Interpretation 
 As used
in this Agreement, unless a clear contrary intention appears: 
 (a) any reference to the singular includes the plural and
vice versa, any reference to natural persons includes legal persons and vice versa, and any reference to a gender includes the other gender; 

(b) the words “hereof”, “herein”, and “hereunder” and words of similar import, when used in this
Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement; 
 (c) any
reference to Articles, Sections and Exhibits are, unless otherwise stated, references to Articles, Sections and Exhibits of or to this Agreement and references in any Section or definition to any clause means such clause of such Section or
definition. The headings in this Agreement have been inserted for convenience only and shall not be taken into account in its interpretation; 

(d) reference to any agreement (including this Agreement), document or instrument means such agreement, document, or instrument
as amended, modified or supplemented and in effect from time to time in accordance with the terms thereof and, if applicable, the terms of this Agreement; 

(e) the Exhibits hereto form an integral part of this Agreement and are equally binding therewith. Any reference to “this
Agreement” shall include such Exhibits; 
 (f) references to a Person shall include any permitted assignee or successor
to such Party in accordance with this Agreement and reference to a Person in a particular capacity excludes such Person in any other capacity; 

(g) if any period is referred to in this Agreement by way of reference to a number of days, the days shall be calculated
exclusively of the first and inclusively of the last day unless the last day falls on a day that is not a Business Day in which case the last day shall be the next succeeding Business Day; 

(h) the use of “or” is not intended to be exclusive unless explicitly indicated otherwise; 

(i) references to “$” or to “dollars” shall mean the lawful currency of the United States of America; and

 (j) the words “includes,” “including,” or any derivation thereof shall mean “including without
limitation” or “including, but not limited to.” 

  
 Exhibit B-1 

 Exhibit C 

to 
 Master Throughput
Agreement 
  
  

Applicable Assets, Product, Minimum Capacity Commitment, Tariffs, Tariff Adjustments and Applicable Terms 

 

																									
	 Applicable
Assets
	  	 Type of

Applicable
 Asset
	  	 Product
	  	 Minimum

Capacity
 Commitment

(aggregate
 capacity

unless
 otherwise

noted)
	  	 Minimum

Throughput
 Commitment

(in the
 aggregate, on

average, for

each Contract
 Quarter)
	  	 Base Tariff

(applicable
 to all

movements
 below the

Incentive
 Tariff

Threshold)
	  	 Incentive

Tariff
 Threshold (in

the aggregate,

on average,
 for each

Contract
 Quarter)
	  	 Incentive
Tariff

(applicable
 to all

movements
 at or above

the
Incentive
Rate
Threshold)
	  	 Excess
Tariff
(applicable
to
all
movements
above the
Excess
Tariff
Thresholds
set forth
below, if
any)
	  	 Tariff
Adjustment
	  	 Tariff
Adjustment
Minimum/Cap
	  	 Tariff
Adjustment
Commencement
Date
	  	 Applicable Term

(all times are Dallas, TX time)

	 Malaga Pipeline System
	  	Pipelines	  	Crude Oil	  	40,000 bpd1	  	40,000 bpd2	  	$0.5334/bbl2	  	40,000 bpd2	  	$0.3137/bbl	  	—  	  	FERC Adjustment	  	—  	  	July 1, 2015	  	12:01 a.m. on June 1, 2013 to Sept. 1, 2024 (the “Malaga Commencement Date”)

  

	1 	As may be adjusted pursuant to Exhibit G. 

	2 	During the first five years of the Applicable Term, following the Malaga Commencement Date, HFRM shall pay HEP Operating an extra surcharge per barrel (the “Surcharge Tariff”). The Surcharge Tariff for
each Contract Quarter is equal to: 

 Actual Construction Costs – $38,500,000 

Minimum Pipeline Throughput × 365 × 5 

where “Actual Construction Costs” means the actual, reasonable and necessary costs, or as otherwise approved in writing by HFRM,
incurred by HEP Operating to construct the Malaga Construction Projects and the Devon Lease Connections; provided, however, that the numerator of the formula for calculating the Surcharge Tariff (Actual Construction Costs – $38,500,000) shall
not exceed $13,500,000 such that the maximum value for such numerator shall be $13,500,000. At the end of each Contract Quarter during the first five years of the Applicable Term, following the Malaga Commencement Date, HFRM shall pay HEP Operating
an amount for each Contract Quarter determined by multiplying the Minimum Throughput Commitment for the Malaga Pipeline System for such Contract Quarter, by the Surcharge Tariff. The Surcharge Tariff is in addition to the Applicable Tariff to be
paid by HFRM. 

  
 Exhibit C-1 

																									
	 Applicable
Assets
	  	 Type of

Applicable
 Asset
	  	 Product
	  	 Minimum

Capacity
 Commitment

(aggregate
 capacity

unless
 otherwise

noted)
	  	 Minimum

Throughput
 Commitment

(in the
 aggregate, on

average, for

each Contract
 Quarter)
	  	 Base Tariff

(applicable
 to all

movements
 below the

Incentive
 Tariff

Threshold)
	  	 Incentive

Tariff
 Threshold (in

the aggregate,

on average,
 for each

Contract
 Quarter)
	  	 Incentive
Tariff

(applicable
 to all

movements
 at or above

the
Incentive
Rate
Threshold)
	  	 Excess
Tariff
(applicable
to
all
movements
above the
Excess
Tariff
Thresholds
set forth
below, if
any)
	  	 Tariff
Adjustment
	  	 Tariff
Adjustment
Minimum/Cap
	  	 Tariff
Adjustment
Commencement
Date
	  	 Applicable Term

(all times are Dallas,

TX time)

	 El Dorado Assets
	  	Pipelines	  	 Refined Products
  

LPG Products,
  

Intermediate Products
  

Heavy Products
	  	120,000 bpd of aggregate delivery capacity from the Tankage	  	120,000 bpd of Intermediate and Refined Product	  	$0.1625/bbl	  	132,000 bpd of Intermediate and Refined Product	  	$0.0758/bbl	  	—  	  	PPI Adjustment	  	3% in any calendar year (applicable to each individual tariff)	  	July 1, 2012	  	12:01 a.m. on Nov. 1, 2011 to 12:01 a.m. on Oct. 31, 2026; provided that with respect to (a) El Dorado Tank No. 643, the Applicable Term is 12:01 a.m. on February 4, 2014 to 12:01 a.m. on February 4, 2029, and (b) the New
Tanks at the El Dorado Refinery, the Applicable Term shall be from 12:01 a.m. on the New Tank Commencement Date for such New Tank to the date occurring fifteen (15) years thereafter.
													
		  	Tankage	  		  	140,000 bpd of aggregate capacity in the Tankage	  	140,000 bpd of Products	  	$0.4742/bbl3,4	  	154,000 bpd of Products	  	$0.2167/bbl	  	—  	  		  		  		  	
													
		  	Loading Rack	  		  	20,000 bpd	  	20,000 bpd	  	$0.2708/bbl	  	—  	  	—  	  	—  	  		  		  		  	

  

	3 	From and after the New Tank Commencement Date established pursuant to Exhibit H, if any, the Tankage Base Tariff shall be increased by an amount per barrel equal to: 

                       
 Final Construction Cost                     

0.9 × 8.1928 × Minimum Tankage Throughput × 365 

For example, if the Final Construction Costs = $1,500,000, the per barrel increase in the Tankage Base Tariff would be calculated as follows:

 $1,500,000/(0.9 × 8.1928 × 140,000 × 365) = $0.0040. 

 

	4 	Reflects reduction in throughput fee effective January 1, 2015 as a result of the secondment arrangement at the El Dorado refinery. 

  
 Exhibit C-2 

																									
													
	 Applicable
Assets
	  	 Type of

Applicable
 Asset
	  	 Product
	  	 Minimum

Capacity
 Commitment

(aggregate
 capacity

unless
 otherwise

noted)
	  	 Minimum

Throughput
 Commitment

(in the
 aggregate, on

average, for

each Contract
 Quarter)
	  	 Base Tariff

(applicable
 to all

movements
 below the

Incentive
 Tariff

Threshold)
	  	 Incentive

Tariff
 Threshold (in

the aggregate,

on average,
 for each

Contract
 Quarter)
	  	 Incentive
Tariff

(applicable
 to all

movements
 at or above

the
Incentive
Rate
Threshold)
	  	 Excess
Tariff
(applicable
to
all
movements
above the
Excess
Tariff
Thresholds
set forth
below, if
any)
	  	 Tariff
Adjustment
	  	 Tariff
Adjustment
Minimum/Cap
	  	 Tariff
Adjustment
Commencement
Date
	  	 Applicable Term

(all times are Dallas,

TX time)

	 Cheyenne Assets
	  	Cheyenne Receiving Assets	  	Crude Oil	  	41,000 bpd	  	46,000 bpd	  	$0.3251/bbl	  	50,600 bpd	  	$0.1517/bbl	  	—  	  	PPI Adjustment	  	3% in any calendar year (applicable to each individual tariff)4	  	July 1, 2012	  	12:01 a.m. on Nov. 1, 2011 to 12:01 a.m. on Oct. 31, 2026; provided that with respect to (a) Cheyenne New Tank Nos. 117, the Applicable Term shall be from 12:01 a.m. on December 4, 2014 to 12:01 a.m. on
December 4, 2029, and (b) any New Tanks at the Cheyenne Refinery, the Applicable Term is 12:01 a.m. on the New Tank Commencement Date for each such New Tank to the date occurring fifteen (15) years thereafter.
	  	Cheyenne Tankage	  		  	46,000 bpd	  	41,000 bpd	  	$0.4142 /bbl5	  	45,100 bpd	  	$0.2167/bbl	  	—  	  	  	  	  
	  	Cheyenne Loading Rack	  		  		  	41,000 bpd	  	$0.2708/bbl	  	None	  	—  	  	—  	  	  	  	  

  

	5 	Reflects reduction in throughput fee effective January 1, 2015 as a result of the secondment arrangement at the Cheyenne refinery. 

  
 Exhibit C-3 

																									
													
	 Applicable
Assets
	  	 Type of

Applicable
 Asset
	  	 Product
	  	 Minimum

Capacity
 Commitment

(aggregate
 capacity

unless
 otherwise

noted)
	  	 Minimum

Throughput
 Commitment

(in the
 aggregate, on

average, for

each Contract
 Quarter)
	  	 Base Tariff

(applicable
 to all

movements
 below the

Incentive
 Tariff

Threshold)
	  	 Incentive

Tariff
 Threshold (in

the aggregate,

on average,
 for each

Contract
 Quarter)
	  	 Incentive
Tariff

(applicable
 to all

movements
 at or above

the
Incentive
Rate
Threshold)
	  	 Excess
Tariff
(applicable
to
all
movements
above the
Excess
Tariff
Thresholds
set forth
below, if
any)
	  	 Tariff
Adjustment
	  	 Tariff
Adjustment
Minimum/Cap
	  	 Tariff
Adjustment
Commencement
Date
	  	 Applicable Term

(all times are Dallas,

TX time)

	 Tulsa East Assets
	  	 Tulsa Pipelines
  
	  	 Refined Products
  
	  	 60,000 bpd
  
	  	 60,000 bpd
  
	  	 $0.1116/bbl
  
	  		  	 —  
  
	  	 —  
  
	  	PPI Adjustment	  	3% in any calendar year (applicable to each individual tariff)	  	July 1, 2011	  	11:59 p.m. on Mar. 31, 2010 to 12:01 a.m. on Dec. 1, 2024
	  	 Tulsa Group 1

Tankage
	  	Various	  	1,362,550 bbls	  	80,000 bpd	  	$0.3839/bbl	  	Each throughput barrel over the Minimum Throughput Commitment but less than or equal to the Excess Tariff Threshold	  	$0.1116/bbl	  	$0.2455/bbl (over 120,000 bpd of Refined Products, in the aggregate on average for each Contract Quarter)	  	  	  	  
	  	 Tulsa Group 1
  

Loading Rack
	  	 Various
  
	  	 26,000 bpd
  
	  	 26,000 bpd
  
	  	 $0.3348/bbl
  
	  	 —  
  
	  	 —  
  
	  	 —  
  
	  	  	  	  
	  	 Tulsa Group 2

Tankage
  
	  	 Various
  
	  	 2,122,644 bbl
  
	  	 90,000 bpd
  
	  	 $0.4605/bbl
  
	  	 Each throughput barrel over the Minimum Throughput Commitment but less than or equal to the Excess Tariff Thresshold

 
	  	 $0.1116/bbl
  
	  	 $0.2455/bbl (over 120,000 bpd of Refined Products, in the aggregate on average for each Contract Quarter)

 
	  	  	  	  
	  	 Tulsa Group 2

Loading Rack
	  		  	1,800 bpd	  	1,800 bpd	  	$0.3906/bbl	  	—  	  	—  	  	—  	  	  	  	  
													
		  		  		  		  		  		  		  		  		  		  		  		  	

  
 Exhibit C-4 

																									
													
	 Applicable Assets
	  	 Type of

Applicable
 Asset
	  	 Product
	  	 Minimum

Capacity
 Commitment

(aggregate
 capacity

unless
 otherwise

noted)
	  	 Minimum

Throughput
 Commitment

(in the
 aggregate, on

average, for

each Contract
 Quarter)
	  	 Base Tariff

(applicable
 to all

movements
 below the

Incentive
 Tariff

Threshold)
	  	 Incentive

Tariff
 Threshold (in

the aggregate,

on average,
 for each

Contract
 Quarter)
	  	 Incentive
Tariff

(applicable
 to all

movements
 at or above

the
Incentive
Rate
Threshold)
	  	 Excess
Tariff
(applicable
to
all
movements
above the
Excess
Tariff
Thresholds
set forth
below, if
any)
	  	 Tariff
Adjustment
	  	 Tariff
Adjustment
Minimum/Cap
	  	 Tariff
Adjustment
Commencement
Date
	  	 Applicable Term

(all times are Dallas,
TX time)

		  	 Tulsa Interconnect-ing
Pipelines6
	  		  	 Distillate Interconnect-ing Pipeline – 45,000 bpd (maximum)

 
	  	45,000 bpd	  	$0.2267/bbl (to 45,000 bpd in the aggregate, on average for each Contract Quarter)	  	Over 45,000 bpd and less than or equal to 65,000 bpd	  	$0.0758/bbl	  	$0.0541/bbl (over 65,000 bpd of Refined Products, in the aggregate on average for each Contract Quarter)	  		  		  		  	
	  	  	  	Gasoline Interconnect-ing Pipeline – 45,000 bpd (maximum)	  	45,000 bpd of Intermediate Products shipped between the Tulsa East Refinery and the Tulsa West Refinery via the Interconnecting Pipelines (excluding the Distillate Interconnecting Pipeline and the Tulsa Pipelines	  	  	  	  	  	  	  	  
													
		  		  		  	 Hydrogen Interconnect-ing Pipeline –10,000 MSCFD of

hydrogen (maximum)
	  	64,000 MSCFD	  	 $0.3906/

MSCF/day
	  	—  	  	—  	  	—  	  		  		  		  	

  

	6 	The Minimum Interconnecting Pipeline Revenue Commitment shall be an amount of revenue to HEP Operating for each Contract Quarter determined by adding: 1) the Minimum Interconnecting Pipeline Liquid Throughput multiplied
by the Interconnecting Pipeline Liquid Tariff, and 2) the Minimum Interconnecting Pipeline Gas Throughput multiplied by the Interconnecting Pipeline Gas Tariff. 

  
 Exhibit C-5 

																									
													
	 Applicable
Assets
	  	 Type of

Applicable
 Asset
	  	 Product
	  	 Minimum

Capacity
 Commitment

(aggregate
 capacity

unless
 otherwise

noted)
	  	 Minimum

Throughput
 Commitment

(in the
 aggregate, on

average, for

each Contract
 Quarter)
	  	 Base Tariff

(applicable
 to all

movements
 below the

Incentive
 Tariff

Threshold)
	  	 Incentive

Tariff
 Threshold (in

the aggregate,

on average,
 for each

Contract
 Quarter)
	  	 Incentive
Tariff

(applicable
 to all

movements
 at or above

the
Incentive
Rate
Threshold)
	  	 Excess
Tariff
(applicable
to
all
movements
above the
Excess
Tariff
Thresholds
set forth
below, if
any)
	  	 Tariff
Adjustment
	  	 Tariff
Adjustment
Minimum/Cap
	  	 Tariff
Adjustment
Commencement
Date
	  	 Applicable Term

(all times are Dallas,
TX time)

		  		  		  	10,000 MSCFD of hydrogen (maximum)	  		  		  		  		  		  		  		  		  	
													
		  		  		  	 Refinery Fuel Gas

Interconnect-ing Pipeline – 32,000 MSCFD of refinery fuel gas (maximum)
	  		  		  		  		  		  		  		  		  	
													
		  		  		  	Refinery Sour Fuel Gas Interconnecting Pipeline – 22,000 MSCFD of refinery sour fuel gas (maximum)	  		  		  		  		  		  		  		  		  	
													
	 Lovington Assets
	  	Lovington Loading Rack	  	Asphalt and any other petroleum or petroleum based or derived products	  	4,000 bpd	  	4,000 bpd	  	$0.3906/bbl	  		  	—  	  	—  	  	PPI Adjustment4	  	3% in any calendar year	  	July 1, 2011	  	11:59 p.m. on Mar. 31, 2010 to 12:01 a.m. on Mar. 31, 2025

  
 Exhibit C-6 

																									
													
	 Applicable
Assets
	  	 Type of

Applicable
 Asset
	  	 Product
	  	 Minimum

Capacity
 Commitment

(aggregate
 capacity

unless
 otherwise

noted)
	  	 Minimum

Throughput
 Commitment

(in the
 aggregate, on

average, for

each Contract
 Quarter)
	  	 Base Tariff

(applicable
 to all

movements
 below the

Incentive
 Tariff

Threshold)
	  	 Incentive

Tariff
 Threshold (in

the aggregate,

on average,
 for each

Contract
 Quarter)
	  	 Incentive
Tariff

(applicable
 to all

movements
 at or above

the
Incentive
Rate
Threshold)
	  	 Excess
Tariff
(applicable
to
all
movements
above the
Excess
Tariff
Thresholds
set forth
below, if
any)
	  	 Tariff
Adjustment
	  	 Tariff
Adjustment
Minimum/Cap
	  	 Tariff
Adjustment
Commencement
Date
	  	 Applicable Term

(all times are Dallas,

TX time)

	 Roadrunner Assets
	  	Pipelines	  	Crude Oil	  	40,000 bpd	  	40,000 bpd7	  	$0.7174/bbl	  	Each throughput barrel over the Minimum Throughput Commitment	  	$0.3757/bbl8	  	—  	  	PPI Adjustment	  	3% plus  1⁄2 of the PPI increase in excess of 3% for such calendar year.	  	July 1, 2011	  	12:01 a.m. on Dec. 1, 2009 to 12:01 a.m. on Dec. 1, 2024
													
	 El Dorado Crude Tankage
	  	Tankage	  	Crude Oil; Intermediate Products	  	140,000 bpd	  	140,000 bpd	  	$0.091/bbl	  	Each throughput barrel over the Minimum Throughput Commitment	  	$0.01/bbl	  	—  	  	PPI Adjustment	  	Subject to 1% minimum / 3% cap9	  	July 1, 2016	  	12:01 a.m. on March 6, 2015 to 12:01 a.m. on March 6, 2025

  

	7 	In the event that any third party transports Crude Oil on the Roadrunner Pipeline for ultimate delivery to HollyFrontier or any of its Subsidiaries and such third party pays throughput fees equal to or greater than the
then-current base tariff for each such barrel of Crude Oil transported on the Roadrunner Pipeline for ultimate delivery to HollyFrontier or any of its Subsidiaries (“Qualified Third-Party Throughput”), then revenues paid to HEP
Operating by such third party for such Qualified Third-Party Throughput shall be credited towards the Minimum Revenue Commitment hereunder for the Roadrunner Pipeline. 

	8 	If the average throughput for any Contract Quarter (including Qualified Third-Party Throughput) exceeds the Minimum Pipeline Throughput attributable to such Contract Quarter, then for each throughput barrel in excess of
the Minimum Pipeline Throughput, HFRM shall pay HEP Operating throughput fees in the amount of the Pipeline Incentive Tariff. 

	9 	For the avoidance of doubt, if the change in PPI in any year is less than one percent (1%) it will be rounded up to one percent (1%) and if the change in PPI in any year is greater than three percent
(3%) it will be rounded down to three percent (3%). 

  
 Exhibit C-7 

 Applicable Tariff Adjustments 

FERC Adjustment: 
 Each Applicable Tariff shall be adjusted
on July 1 of each index year during the Applicable Term by an amount equal to the percentage change, if any, between the two (2) immediately preceding index years, in the Federal Energy Regulation Commission Oil Pipeline Index (the
“FERC Oil Pipeline Index”); provided, however, that if the percentage change, if any, between the two (2) immediately preceding index years in the FERC Oil Pipeline Index is negative, then there will be no change
to the Applicable Tariffs. 
 PPI Adjustment: 
 Each
Applicable Tariff shall be adjusted on July 1 of each calendar year by an amount equal to the upper change in the annual change rounded to four decimal places of the Producers Price Index-Commodities-Finished Goods, (PPI), et al.
(“PPI”), produced by the U.S. Department of Labor, Bureaus of Labor Statistics. The series ID is WPUSOP3000 as June 1, 2011 – located at http://www.bls.gov/data/. The change factor shall be calculated as follows:
annual PPI index (most current year) less annual PPI index (most current year minus 1) divided by annual PPI index (most current year minus 1). An example for year 2009 change is: [PPI (2008) – PPI (2007)] / PPI (2007) or
(177.1 – 166.6) / 166.6 or .063 or 6.3%. If the PPI index change is negative in a given year then there will be no change in the tariff. 
 Index no
longer Published 
 If the either index is no longer published, the Parties shall negotiate in good faith to agree on a new index (as applicable) that
gives comparable protection against inflation or deflation, and the same method of adjustment for increases or decreases in the new index shall be used to calculate increases or decreases in the tariffs. If the Parties are unable to agree, a new
index will be determined in accordance with the dispute resolution provisions set forth in the Omnibus Agreement, and the same method of adjustment for increases or decreases in the new index shall be used to calculate increases or decreases in the
tariffs. 

  
 Exhibit C-8 

 Exhibit D 

to 
 Master Throughput
Agreement 
  
  

Measurement of Shipped Volumes 
  

					
			
	 Applicable Asset
	  	 Type of Applicable Asset
	  	 Measurement of Volumes

	Malaga Pipeline System	  	Pipelines	  	 Quantities shipped on the Malaga Pipeline System shall be determined by measuring unique barrels of Crude Oil (either by counting barrels or
calculating barrels based on available meter data) shipped on the following origin and destination pairings:

        Whites City Road Station to HEP Artesia Station

        Whites City Road Station to Beeson Station

        Whites City Road Station to Plains Pipeline Bisti Connection

        HEP Artesia Station to Beeson Station

        HEP Artesia Station to Plains Pipeline Bisti Connection

        Beeson Station to Plains Pipeline Bisti Connection

 
 The origin and destination pairings listed above utilize the following segments of the
Pipeline System:
         Whites City Road Station to HEP Artesia Station (8-inch)

        HEP Artesia Station to Beeson Station (8-inch)

        Beeson Station to Plains Pipeline Bisti Connection (12-inch)

 
 Shipments on any other segments of the Malaga Pipeline System will be charged the
then-current tariff and fees under the Crude Agreement.
  
 For the avoidance of doubt, a
barrel shipped on multiple segments of the Malaga Pipeline System shall only be counted as one barrel in satisfaction of the Minimum Throughput Commitment and shall not count as a separate barrel on each such segment. For example, a barrel shipped
from Whites City Road Station to the Plains Pipeline Bisti Connection shall count as one barrel in satisfaction of the Minimum Throughput Commitment, and not as three barrels since it flows on three segments of the Malaga Pipeline
System.

			
	El Dorado Assets	  	Pipelines	  	 Pipeline delivery throughput shall be determined by the shipments of Products by pipeline (and not over the Loading Racks) from the El Dorado
Refinery.
  

	  	Tankage	  	 Tankage throughput shall be determined by the sum of Products shipped from the El Dorado Refinery but not including shipments of coke and
sulfur. For the avoidance of doubt, no Tankage throughput fees shall be paid for movements of Products within the El Dorado Refinery.
  

	  	Loading Rack	  	 The Loading Rack Tariff will be paid for all quantities of Products or other materials loaded at the Loading Racks or the asphalt loading
rack and any Products or other materials shipped using the weight scales.
  

			
	Cheyenne Assets	  	Cheyenne Receiving Assets	  	 Crude Oil throughput shall be determined by the total shipments of Crude Oil by pipeline, truck and rail received at the Cheyenne
Refinery.
  

	  	Cheyenne Tankage	  	 Tankage throughput shall be determined by the sum of Products shipped by the Refinery but not including shipments of coke and sulfur. For the
avoidance of doubt, no Tankage throughput fees shall be paid for movements of Products within the Cheyenne Refinery.
  

	  	Cheyenne Loading Rack	  	 The Applicable Tariff for the Loading Rack will be paid for (A) all quantities of Products shipped out of the Cheyenne Refinery by pipeline
or asphalt loading racks, and (B) all quantities of Products, Crude Oil and any other materials (such as coke and sulfur) loaded at the Loading Racks or the weight scales.

 

			
	Tulsa East Assets	  	Pipelines	  	Pipeline throughput will be determined by the quantities of Refined Product shipped on the Tulsa Pipelines.

  
 Exhibit D-1 

					
		  	 Group 1 Tankage
  
	  	 Group 1 Tankage throughput shall be determined by the sum of Refined Products shipped on the Pipelines and loaded at the Group 1 Loading
Rack. Any streams moved internally within the Tulsa East Refinery will not be included in determining the volumes for any Minimum Revenue Commitment for the Group 1 Tankage.1

 

	  	 Group 1 Loading Rack
  
	  	 The Group 1 Loading Rack Tariff will be paid for all quantities of Products loaded at the Group 1 Loading Rack.

 

	  	 Group 2 Tankage
  
	  	 Group 2 Tankage throughput shall be determined by the sum of pipeline quantities of Crude Oil and Intermediate Products received at the Tulsa
East Refinery, including Crude Oil and Intermediate Products received at the Tulsa East Refinery from the Tulsa West Refinery. Any streams moved internally within the Tulsa East Refinery will not be included in determining the volumes for any
Minimum Revenue Commitment for the Group 2 Tankage. Any Refined Products received from the Tulsa West Refinery or moved out of the Tulsa East Refinery will not be included in determining the volumes for the Minimum Revenue Commitment for the Group 2
Tankage.1
  

	  	 Group 2 Loading Rack
  
	  	 The Group 2 Loading Rack Tariff will be paid for all quantities of Products loaded at the Group 2 Loading Rack.

 

	  	 Interconnecting Pipelines
  
	  	 The Interconnecting Pipeline Gas Throughput shall be determined by the sum of pipeline quantities of Intermediate Products shipped between
the Tulsa East Refinery and the Tulsa West Refinery via the Hydrogen Interconnecting Pipeline, Refinery Fuel Gas Interconnecting Pipeline, and Refinery Sour Fuel Gas Interconnecting Pipeline.

The Interconnecting Pipeline Liquid Throughput shall be determined by the sum of pipeline quantities of Intermediate Products shipped between the Tulsa East
Refinery and the Tulsa West Refinery via the Gasoline Interconnecting Pipeline and Distillate Interconnecting Pipeline.
  

			
	Lovington Assets	  	 Loading Rack
  
	  	 The Loading Rack Tariff will be paid for all quantities of Products loaded at the Lovington Loading Rack.

 

			
	Roadrunner Assets	  	 N/A
  
	  	N/A
			
	El Dorado Crude Tank Farm Assets	  	El Dorado Crude Tankage	  	 El Dorado Tankage throughput shall be determined by the sum of the pipeline quantities of Product received at the El Dorado Crude Tankage,
based on custody transfer meters. For avoidance of doubt, no throughput fees shall be paid for movements of Products among the El Dorado Crude Tankage.
  

  

	1 	For the avoidance of doubt, any high sulfur diesel fuel that HFRM may transport from the Tulsa West Refinery through the Group 1 Tankage or Group 2 Tankage for processing in the Tulsa East Refinery’s distillate
hydrotreater shall be subject to the Group 2 Tankage Applicable Tariffs, and the resulting ultra low sulfur diesel fuel produced from the high sulfur diesel fuel and then shipped from the Tulsa East Refinery via either the Tulsa Pipelines or the
loading rack located at the Tulsa East Refinery shall be subject to the applicable Group 1 Tankage Applicable Tariffs. 

  
 Exhibit D-2 

 Exhibit E 

to 
 Master Throughput
Agreement 
  
  

Volumetric Gains; Losses; Line Fill; High-API Oil Surcharge 
  

							
	 Applicable Assets
	  	 Volumetric Gains and Losses
	  	 Line Fill
	  	 High-API Oil Surcharge

	Malaga Pipeline System	  	HFRM shall, during the Applicable Term, (i) absorb all volumetric gains in the Malaga Pipeline System, and (ii) be responsible for all volumetric losses in the Malaga Pipeline System up to a maximum of 0.5%. HEP Operating shall be
responsible for all volumetric losses in excess of 0.5% in the Malaga Pipeline System during the Applicable Term. Volumetric gains and losses shall be calculated and measured in a manner consistent with how and when gains and losses are calculated
in the Crude Agreement.	  	HFRM shall be responsible for line fill by pipeline segment in accordance with HEP Operating’s policies for each segment as published on the Partnership’s website from time to time.	  	In the event HFRM desires to ship Crude Oil on the Malaga Pipeline System with an API Gravity in excess of 50 degrees, HEP Operating may, in its sole discretion, (i) refuse to ship such Crude Oil, or (ii) ship such Crude Oil and
charge HFRM a surcharge (the “High-API Surcharge”) equal to the increased expenses (or lower revenues) or capital costs, as a direct result thereof, as agreed upon by the Parties. If the Parties are unable to agree upon the High-API
Surcharge, the High-API Surcharge will be determined pursuant to the dispute resolution provisions of the Omnibus Agreement. Any amounts paid by HFRM as a High-API Surcharge shall not count toward satisfaction of any Minimum Revenue
Commitment.
				
	El Dorado Assets	  	—  	  	—  	  	—  
				
	Cheyenne Assets	  	HFRM shall, during the Applicable Term, (i) absorb all volumetric gains in the Cheyenne Receiving Assets, and (ii) be responsible for all volumetric losses in the Cheyenne Receiving Assets up to a maximum of 0.5%. HEP Operating
shall, during the Applicable Term, be responsible for all volumetric losses in excess of 0.5% in the Cheyenne Receiving Assets. Gains and losses will be calculated for each Contract Quarter and offset against each other.	  	—  	  	 —  

  
 Exhibit E-1 

							
	 Applicable Assets
	  	 Volumetric Gains and Losses
	  	 Line Fill
	  	 High-API Oil Surcharge

	Tulsa East Assets	  	HFRM shall, during the Applicable Term, (i) absorb all volumetric gains in the Tulsa Pipelines, and (ii) be responsible for all volumetric losses in the Tulsa Pipelines up to a maximum of 0.5%. HEP Tulsa shall, during the Applicable
Term, be responsible for all volumetric losses in excess of 0.5% in the Tulsa Pipelines. Gains and losses will be calculated for each Contract Quarter and offset against each other.	  	—  	  	—  
				
	Lovington Assets	  	—  	  	—  	  	—  
				
	Roadrunner Assets	  	HFRM shall, during the Applicable Term, (i) absorb all volumetric gains in the Roadrunner Pipeline, and (ii) be responsible for all volumetric losses in the Roadrunner Pipeline up to a maximum of 0.5%. HEP Operating shall, during
the Applicable Term, be responsible for all volumetric losses in excess of 0.5% in the Roadrunner Pipeline. Gains and losses will be calculated for each Contract Quarter and offset against each other.	  	—  	  	—  
				
	El Dorado Crude Tank Farm Assets	  	—  	  	—  	  	—  

  
 Exhibit E-2 

 Exhibit F 

to 
 Master Throughput
Agreement 
  
  

Increases in Tariff Rates as a Result of Changes in Applicable Law 

 

					
	 Applicable Assets
	  	 Types of Tariffs that may be increased (as applicable)
	  	 Threshold

	Malaga Pipeline System	  	 Pipeline Base Tariff
 Pipeline Incentive
Tariff
	  	None
			
	El Dorado Assets	  	 Pipeline Base Tariff
 Tankage Base Tariff

Loading Rack Base Tariff
	  	 No Base Tariff may be amended until HEP Operating has made capital expenditures of $1,000,000 in the aggregate with respect to the El Dorado
Assets in order to comply with new Applicable Laws.
  
 Thereafter, HEP Operating may
amend the applicable Base Tariff to recover its full cost of complying with the new Applicable Laws and such recovery shall not be limited to amounts in excess of $1,000,000.

			
	Cheyenne Assets	  	 Cheyenne Receiving Assets Base Tariff
 Cheyenne
Tankage Base Tariff
 Cheyenne Loading Rack Base Tariff
	  	 No Base Tariff may be amended until HEP Operating has made capital expenditures of $1,000,000 in the aggregate with respect to the Cheyenne
Assets in order to comply with new Applicable Laws.
  
 Thereafter, HEP Operating may
amend the applicable Base Tariff to recover its full cost of complying with such new Applicable Laws and such recovery shall not be limited to amounts in excess of $1,000,000.

			
	Tulsa East Assets	  	 Tulsa Pipelines Base Tariff
 Tulsa Group 1
Tankage Base Tariff
 Tulsa Group 1 Loading Rack Tariff
 Tulsa
Group 2 Tankage Base Tariff
 Tulsa Group 2 Loading Rack Tariff
	  	 Base Tariff may not be amended until HEP Operating has made capital expenditures of $2,000,000 in the aggregate with respect to the
Applicable Assets (excluding the Interconnecting Pipelines) in order to comply with new Applicable Laws.
  

	  	Tulsa Interconnecting Pipeline Base Tariff	  	Base Tariff may not be amended until HEP Operating has made capital expenditures of $1,000,000 in the aggregate with respect to the Interconnecting Pipelines in order to comply with new Applicable Laws.
			
	Lovington Assets	  	Base Tariff	  	Base Tariff may not be amended until HEP Operating has made capital expenditures of $500,000 in the aggregate with respect to the Lovington Loading Rack in order to comply with new Applicable Laws.

  
 Exhibit F-1 

					
	 Applicable Assets
	  	 
	 Roadrunner Assets
	  	Pipeline Base Tariff	  	Base Tariff may not be amended until HEP Operating has made capital expenditures of $1,000,000 in the aggregate with respect to the Roadrunner Pipeline in order to comply with new Applicable Laws.
			
	 El Dorado Crude Tank Farm Assets
	  	Base Tariff	  	 No Base Tariff may be amended until HEP Operating has made capital expenditures of $1,000,000 in the aggregate with respect to the El Dorado
Crude Tank Farm Assets in order to comply with new Applicable Laws.
  
 Thereafter, HEP
Operating may amend the applicable Base Tariff to recover its full cost of complying with the new Applicable Laws and such recovery shall not be limited to amounts in excess of $1,000,000.

  
 Exhibit F-2 

 Exhibit G 

to 
 Master Throughput
Agreement 
  
  

Special Provisions: Malaga Pipeline System 

1. Construction Projects. HEP Operating agrees to use commercially reasonable efforts to (i) complete the construction projects
set forth on Exhibit G-2 and (ii) build the 25 lease connections listed on Exhibit G-3 (the “Devon Lease Connections” and, together with the construction projects set forth on Exhibit G-2, the
“Malaga Construction Projects”). With respect to Item 4 listed on Exhibit G-2, HFRM shall reimburse HEP Operating 100% of the actual costs and expenses of those Malaga Construction Projects. HEP Operating shall bear
the costs of constructing all of the other Malaga Construction Projects listed on Exhibit G-2 and Exhibit G-3, other than Item 4 on Exhibit G-3. 

2. Option to Increase Minimum Capacity Commitment Following the Malaga Initial Period. At the end of the Malaga Initial Period and
once-a-year thereafter during the Applicable Term, HFRM shall have the option to increase (but not decrease) the Minimum Capacity Commitment for the Malaga Pipeline System applicable to the remainder of the Applicable Term, which option may be
exercised as follows: 
 2.1 Malaga Capacity Estimate. HFRM may initiate the process by which it will exercise its
option by delivering to HEP Operating a written request for a statement of HEP Operating’s good faith estimate of the total uncommitted pipeline capacity for the Malaga Pipeline System that will be available for the remaining Applicable Term (a
“Malaga Capacity Estimate”), which request must be made, (i) in the case of the election available at the end of the Malaga Initial Applicable Period, no later than the one hundred twentieth (120th) day before the end of the Malaga Initial Period, and (ii) in the case of the election available at the end of each twelve (12) month period following the end of the Malaga Initial
Period (each a “Subsequent Year”), the one-hundred twentieth (120) day before the end of such Subsequent Year. 

2.2 Response to Request for Malaga Capacity Estimate. HEP Operating must respond to each request with a written Malaga
Capacity Estimate within ten (10) days of HEP Operating’s receipt of such request. 
 2.3 Malaga Exercise
Notice. To exercise its option, HFRM must provide HEP Operating a written notice of exercise (an “Malaga Exercise Notice”) no later than ninety (90) days prior to the end of the Malaga Initial Period or Subsequent Year (as
applicable), which Malaga Exercise Notice must contain the amount (stated in bpd) by which HFRM desires to increase the Minimum Capacity Commitment for the Malaga Pipeline System for the next occurring Subsequent Year and the remainder of the
Applicable Term. The amount of increase for which HFRM may exercise this option may not exceed the available uncommitted pipeline capacity for the Malaga Pipeline System as stated in the Malaga Capacity Estimate. If no written Malaga Exercise Notice
is received by such ninetieth (90th) day, then HFRM will be deemed to have waived its option, though such waiver shall not preclude HFRM from exercising its option in Subsequent Years
according the process set forth in this Section 2. 
 2.4 Increase in Minimum Capacity Commitment and Minimum
Throughput Commitment. If HFRM timely exercises its option at the end of the Malaga Initial Period or a Subsequent Year in accordance with this Section 2, then, with respect to the next Subsequent Year and the remainder of the
Applicable Term thereafter: 
 (a) the Minimum Capacity Commitment for the Malaga Pipeline System shall be increased by the
amount specified in the Malaga Exercise Notice; and 

  
 Exhibit G 

 (b) the Minimum Throughput Commitment shall be increased by an amount equal to
the increase in the Minimum Capacity Commitment for the Malaga Pipeline System. 
 For example, if HFRM exercises its option at the end of
the Malaga Initial Period to increase the Minimum Capacity Commitment for the Malaga Pipeline System from 40,000 bpd to 50,000 bpd (a 25% increase), then the Minimum Throughput Commitment shall be increased to equal 50,000 bpd (a 25% increase). This
will have the effect of increasing the Minimum Pipeline Revenue Commitment by the operation of Section 2.2(a) of the Agreement. 

3. Third Party Shipping. During the Malaga Initial Period, HFRM shall have the exclusive right to utilize the entire capacity of the
Malaga Pipeline System. After the end of the Malaga Initial Period, if HEP Operating contracts with third parties to ship Crude Oil on the Malaga Pipeline System thereafter during the Applicable Term, subject to the terms of this Agreement, then HEP
Operating may not charge any such third party transportation services fees, throughput fees, or other fees that are equal to or less on a per barrel basis (taking into account all applicable incentive tariffs and surcharges) than those charged to
HFRM under this Agreement unless such third party agrees to minimum volume and revenue commitments equal to or in excess of those to which HFRM is subject hereunder. In the event that a third party with whom HEP has contracted agrees to minimum
volume and revenue commitments that are equal to those to which HFRM is subject hereunder, and the transportation services fees, throughput fees, or other fees are less on a per barrel basis (taking into account all applicable incentive tariffs and
surcharges) than those charged to HFRM under this Agreement, then the tariff rates charged to HFRM under this Agreement shall be automatically reduced to be equal to such third party tariff rates. 

4. Storage. In addition, following the Malaga Commencement Date, HEP Operating agrees, for no additional fees, to provide storage
services of up to 70,000 barrels with regard to Crude Oil shipped using the Malaga Pipeline System (30,000 barrels at the Whites City Road Station and 40,000 barrels at the Beeson Station) and provide limited in-tank Crude Oil blending services when
operationally feasible at the HEP Operating Artesia Station to the specifications of HFRM, as such specifications may be adjusted from time to time. 

5. Additional Applicable Tariff. The Parties hereby acknowledge that the Applicable Tariffs are in addition to tariffs applicable to
volumes shipped on the Devon Lease Connections pursuant to the Crude Agreement. 

  
 Exhibit G 

 Exhibit G-1 

to 
 Master Throughput
Agreement 
  
  

Map of Pipeline System and Pipeline System Capacity by Segment 

See attached 

  
 Exhibit G-1 

 

 

  
 Exhibit G-1 

 Exhibit G-2 

to 
 Master Throughput
Agreement 
  
  

Construction Projects 
  

	1.	Whites City Road Station 

  

	 	a.	Build station at the intersection of the idle 8” pipe and Whites City County Road (coordinates _32.064421 Lat _104.135759_ Long). This station should include 30,000 barrels of tankage for crude to be injected
into the 8” headed north. The amount of property to be leased or purchased will be sufficient to install up to 5 crude truck off-loading LACTS and their associated tanks. 

 

	2.	HEP Artesia Station 

  

	 	a.	Reactivate 8” Malaga Pipeline from the Whites City Road Station to the existing 30,000 barrel tank at HEP Artesia Station. 

  

	 	b.	Build connecting 8” line between the reactivated 8” Malaga Pipeline and HEP Artesia Station for receipts of sweet crude originating from the Whites City Road Station. 

 

	 	c.	Tie-in Millman Station and Devon Parkway sweet crude deliveries into the HEP Artesia Station 30,000 barrel tank, i.e., Devon Parkway barrels will be connected into and delivered to the Artesia Station tank.

  

	 	d.	Sweet crude oil deliveries out of HEP Artesia Station tank will be connected for delivery to Abo station. 

  

	 	e.	Build 6” connecting pipeline approximately 6 miles to receive sweet barrels from the Devon Parkway into existing Millman System. 

 

	 	f.	Build additional truck off loading facility at HEP Artesia Station. 

  

	 	g.	Build 8” 11-mile pipeline from HEP Artesia Station to Beeson Station. 

  

	3.	HEP Beeson Station and Bisti Delivery 

  

	 	a.	Build approximately 40,000 barrels of tankage at Beeson Station to receive sweet crude. 

  

	 	b.	Build 6” pipeline (approximately 12 miles) to receive sweet barrels from the Devon Hackberry field. 

  

	 	c.	Build connection from Anderson Ranch gathering system to the Devon Hackberry to Beeson Station connecting pipeline. This connection will be made to deliver sweet barrels through the Anderson Ranch pipe and deliver into
the tank at the Beeson Station. 

  

	 	d.	Install pumping capacity necessary for delivery into Plains Pipeline at Bisti (to deliver at a rate of up to 80,000 bpd). 

  
 Exhibit G-1 

	 	e.	Build 12” 12-mile pipeline from Beeson Station to Plains Pipeline System connection at Bisti. 

  

	4.	Build NM sweet truck off-loading station at Whites City Road Station.* 

  

	*	HEP Operating will manage and construct (4) above and be reimbursed by HFRM for the costs of managing and constructing (4). HEP Operating will at all times be the owner of (4), including during the period of
construction. 

  
 Exhibit G-2 

 Exhibit G-3 

to 
 Master Throughput
Agreement 
  
  

Devon Lease Connections 
  

							
	 Battery Name
	  	 Field Name
	  	 Location
	  	 Status

	Diamond	  	Parkway	  	32.6519528 N 104.0701295 W	  	Producing
	Emerald	  	Parkway	  	32.6525348 N 104.1045269 W	  	Producing
	Beryl	  	Parkway	  	32.6109502 N 104.0829194 W	  	Producing
	Onyx	  	Parkway	  	32.638176 N 104.093915 W	  	Producing
	Coral	  	Parkway	  	32.6253952 N 104.0745216 W	  	Producing
	Turquoise	  	Parkway	  	32.6365513 N 104.0701851 W	  	Producing
	Agate	  	Parkway	  	32.6520074 N 104.0873003 W	  	Producing
	Jasper	  	Parkway	  	32.623619 N 104.090791 W	  	Producing
	Beetle Juice 19 Fed #1H	  	Hackberry	  	32° 39’ 7.41” N 103° 54’ 4.05” W	  	Producing
	Beetle Juice 19 Fed #3H	  	Hackberry	  	32° 39’ 9.054” N 103° 54’ 43.471” W	  	Producing
	Capella 14 Fed #1H	  	Hackberry	  	32° 40’ 0.638” N 103° 50’ 4.152” W	  	Producing
	Strawberry 7 Fed #2	  	Hackberry	  	32° 40’ 43” N 103° 54’ 20.8” W	  	Producing
	Strawberry 7 Fed #4	  	Hackberry	  	32° 40’ 6.93” N 103° 54’ 4.28” W	  	Producing
	Sirius 17 Fed #1H	  	Hackberry	  	32° 39’ 59.165” N 103° 54’ 2.605” W	  	Producing
	Sirius 17 Fed #2H	  	Hackberry	  	32° 39’ 47.98” N 103° 53’ 2.44” W	  	Producing
	Sirius 17 Fed #3H	  	Hackberry	  	32° 39’ 30.98” N 103° 53’ 56.18” W	  	Producing
	Arcturus 18 Fed #1H	  	Hackberry	  	32° 39’ 59.66” N 103° 54’ 2.607” W	  	Producing
	Arcturus 18 Fed #3H	  	Hackberry	  	32° 39’ 23.058” 103° 54’ 57.028” W	  	Producing
	Rigel 20 Fed Com #1H	  	Hackberry	  	32° 39’ 7.185” N 103° 53’ 56.214” W	  	Producing
	Rigel 20 Fed Com #3H	  	Hackberry	  	32° 38’ 36.881” N 103° 53’ 56.099” W	  	Producing
	Regulus 26 Fed #1	  	Hackberry	  	32° 63’ 76.832” N 103° 83’ 24.245” W	  	Producing
	Spica 25 Fed #1	  	Hackberry	  	32° 63’ 76.834” N 103° 83’ 22.620” W	  	Producing
	Vega 29 Fed Com #1	  	Hackberry	  	32° 63’ 77.726” N 103° 88’ 57.377” W	  	Producing
	Serene Sisters 25 Fed #1H	  	Hackberry	  	32° 43’ 31.099” N 103° 49’ 3.506” W	  	Producing
	Serene Sisters 25 Fed #3H	  	Hackberry	  	32° 42’ 42.721” N 103° 49’ 32.488” W	  	Producing

  
 Exhibit G-3 

 Exhibit H 

to 
 Master Throughput
Agreement 
  
  

Special Provisions: El Dorado Assets 

1. Change of Service. Subject to (i) any Applicable Law and (ii) technical specifications of the El Dorado Tankage, HFRM may
request that HEP Operating change the service of any of the El Dorado Tankage from storage of one Product to storage of a different Product. If HEP Operating agrees to such request, HFRM shall indemnify and hold HEP Operating harmless from and
against all costs and expenses associated with any such changing of service including costs of complying with any Applicable Law affecting such change of service. 

2. Construction of New Tank. HEP Operating shall, or shall cause its Affiliate to, use its commercially reasonable efforts to construct
a New Tank at the El Dorado Refinery in accordance with the specifications set forth on Exhibit H-3. If HEP Operating or its Affiliate should fail to complete the New Tank is not completed or if the New Tank Commencement Date does not occur
for the New Tank for a reason related to the fault of HEP Operating or its Affiliate or a matter that is within or under the control of HEP Operating or its Affiliate, HEP Operating shall bear all costs, liabilities and expenses with respect to such
incomplete New Tank, and if HEP Operating or its Affiliate should fail to complete the New Tank or if the New Tank Commencement Date does not occur for the New Tank for any other reason, HFRM shall reimburse HEP Operating or its Affiliate for all
costs, liabilities and expenses incurred by HEP Operating or its Affiliate with respect to such incomplete New Tank. Promptly following the New Tank Commencement Date, HEP Operating will deliver a written certification to HFRM certifying the final
aggregate construction costs for the New Tank (the “Final Construction Cost”). Additionally, promptly following the New Tank Commencement Date, the Parties shall execute an amended Exhibit H-2 reflecting the addition of the
New Tank and attach it to this Agreement. Such amended Exhibit H-2 shall be numbered Exhibit H-2.1, dated and appended as an additional schedule to this Agreement and shall replace the prior version of Exhibit H-2 in its
entirety after its date of effectiveness. 

  
 Exhibit H 

 Exhibit H-1 

to 
 Master Throughput
Agreement 
  
  

El Dorado Loading Rack 

The Refined Products Truck Loading Rack and the Propane Truck Loading Rack transferred to El Dorado Logistics pursuant to that certain
Conveyance, Assignment and Bill of Sale (El Dorado), dated effective as of October 25, 2011, by and between Frontier El Dorado and El Dorado Logistics. 

  
 Exhibit H-1 

 Exhibit H-2 

to 
 Master Throughput
Agreement 
  
  

El Dorado Tankage 
  

					
	 TANK ID NUMBER
	  	 CURRENT

SERVICE/PRODUCT
	  	 NOMINAL CAPACITY, BBLS

	 1
	  	Naptha	  	2,885
	 2
	  	Naptha	  	2,885
	 3
	  	ULSD	  	40,425
	 15
	  	ULSD	  	12,422
	 16
	  	Light Slop	  	28,880
	 17
	  	Gasoline	  	92,740
	 18
	  	Gasoline	  	88,600
	 19
	  	Gasoline	  	90,733
	 20
	  	Finish Gasoline	  	17,961
	 21
	  	ULSD	  	120,639
	 23
	  	ULSD	  	113,182
	 24
	  	ULSD	  	119,269
	 25
	  	Av Jet	  	65,117
	 29
	  	CRU1 Feed	  	33,723
	 30
	  	CRU2 Feed	  	39,417
	 31
	  	ULSD	  	23,792
	 32
	  	Finish Gasoline	  	74,847
	 64
	  	Gasoline	  	17,961
	 65
	  	Gasoline	  	17,941
	 66
	  	Naptha	  	22,582
	 75
	  	ULS k	  	24,938
	 78
	  	ULS k	  	9,226
	 127
	  	Heavy Slop	  	20,504
	 652
	  	Sour Distilate	  	90,000
	 642
	  	HTU2 Chg.	  	78,511
	 134
	  	HTU2 Chg.	  	76,492
	 649
	  	HTU4 CHg.	  	100,000
	 137
	  	Gas Oil/Sour diesel	  	191,899
	 138
	  	Gas Oil	  	194,091
	 139
	  	Gas Oil	  	74,792
	 142
	  	Gas Oil	  	191,563
	 143
	  	Gas Oil	  	191,570
	 159
	  	Slurry	  	9,778
	 167
	  	Slurry	  	8,908
	 650
	  	ULSD Dock	  	36,000
	 178
	  	Coke Charge/Swing Tank	  	80,000
	 192
	  	Idled	  	8,908

  
 Exhibit H-2 

					
	 TANK ID NUMBER
	  	 CURRENT

SERVICE/PRODUCT
	  	 NOMINAL CAPACITY, BBLS

	212	  	Coker Chg.	  	76,524
	213	  	Asphalt	  	77,675
	215	  	AV Jet	  	67,529
	216	  	Alkylate	  	72,618
	218	  	Gas Oil	  	77,675
	219	  	Reformate	  	71,466
	220	  	Swing Tank	  	71,495
	221	  	Gasoline Swing	  	71,508
	222	  	Gasoline Swing	  	71,509
	223	  	Reformate	  	72,893
	224	  	Jet Fuel	  	71,534
	225	  	HTU1 Chg, kerosene	  	28,882
	226	  	Finish Gasoline	  	27,679
	227	  	Natural Gasoline	  	27,701
	230	  	Diesel (RAM)	  	4,780
	231	  	Light Cycle (RAM)	  	1,923
	243	  	Toluene	  	11,300
	244	  	Toluene	  	10,175
	250	  	FCCU Gasoline	  	75,354
	251	  	FCCU Gasoline	  	75,968
	252	  	FCCU Gasoline	  	75,968
	253	  	Natural Gasoline	  	74,653
	254	  	Isomerate	  	19,318
	255	  	Isomerate	  	19,318
	256	  	TEL Wash	  	950
	447	  	Finish Gasoline	  	17,730
	448	  	Gasoline	  	16,109
	453	  	Ethanol	  	5,121
	457	  	HTU3 Chg, LSR	  	32,690
	458	  	Isomerate	  	32,690
	490	  	ULSD	  	116,094
	600	  	Propane	  	625
	601	  	Propane	  	625
	602	  	Propane	  	625
	603	  	Propane	  	625
	604	  	Propane	  	625
	605	  	Propane	  	625
	606	  	Propane	  	625
	607	  	Propane	  	625
	608	  	Propane	  	625
	609	  	Propane	  	625
	610	  	Propane	  	625
	611	  	Propane	  	625

  
 Exhibit H-2 

					
	 TANK ID NUMBER
	  	 CURRENT

SERVICE/PRODUCT
	  	 NOMINAL CAPACITY, BBLS

	612	  	Propane	  	625
	613	  	Propane	  	625
	614	  	Propane	  	625
	615	  	Propane	  	625
	616	  	Propane	  	625
	617	  	Propane	  	625
	618	  	Propane	  	625
	619	  	Propane	  	625
	620	  	Propane	  	575
	621	  	Propane	  	100
	640	  	Asphalt	  	66,859
	641	  	Biodiesel	  	6,813
	643	  	Sour distillate	  	90,600
	647	  	Asphalt	  	76,600

  
 Exhibit H-2 

 Exhibit H-3 

to 
 Master Throughput
Agreement 
  
  

Specifications for New Tank 
  

					
	 TANK ID NUMBER
	  	 CURRENT SERVICE/PRODUCT
	  	NOMINAL CAPACITY, BBLS
	651	  	Heavy Atmospheric Gas Oil (GASO)	  	32,000

  
 Exhibit H-3 

 Exhibit I 

to 
 Master Throughput
Agreement 
  
  

Special Provisions: Cheyenne Assets 

1. Change of Service. Subject to (i) any Applicable Law and (ii) technical specifications of the Cheyenne Tankage, HFRM may
request that HEP Operating change the service of any of the Cheyenne Tankage from storage of one Product to storage of a different Product. If HEP Operating agrees to such request, HFRM shall indemnify and hold HEP Operating harmless from and
against all costs and expenses associated with any such changing of service including costs of complying with any Applicable Law affecting such change of service. 

2. Construction of New Tank. HEP Operating shall, or shall cause its Affiliate to, use its commercially reasonable efforts to construct
a New Tank at the Cheyenne Refinery in accordance with the specifications set forth on Exhibit I-3. If HEP Operating or its Affiliate should fail to complete the New Tank is not completed or if the New Tank Commencement Date does not occur
for the New Tank for a reason related to the fault of HEP Operating or its Affiliate or a matter that is within or under the control of HEP Operating or its Affiliate, HEP Operating shall bear all costs, liabilities and expenses with respect to such
incomplete New Tank, and if HEP Operating or its Affiliate should fail to complete the New Tank or if the New Tank Commencement Date does not occur for the New Tank for any other reason, HFRM shall reimburse HEP Operating or its Affiliate for all
costs, liabilities and expenses incurred by HEP Operating or its Affiliate with respect to such incomplete New Tank. Promptly following the New Tank Commencement Date, HEP Operating will deliver a written certification to HFRM certifying the final
aggregate construction costs for the New Tank (the “Final Construction Cost”). Additionally, promptly following the New Tank Commencement Date, the Parties shall execute an amended Exhibit I-2 reflecting the addition of the
New Tank and attach it to this Agreement. Such amended Exhibit I-2 shall be numbered Exhibit I-2.1, dated and appended as an additional schedule to this Agreement and shall replace the prior version of Exhibit I-2 in its
entirety after its date of effectiveness. 

  
 Exhibit I 

 Exhibit I-1 

to 
 Master Throughput
Agreement 
  
  

Cheyenne Loading Rack 

The Refined Products Truck Loading Rack, including the Vapor Recovery Unit and the two (2) Propane Loading Spots transferred to Cheyenne
Logistics pursuant to that certain Conveyance, Assignment and Bill of Sale (Cheyenne), dated effective as of October 25, 2011, by and between Frontier Cheyenne and Cheyenne Logistics. 

  
 Exhibit I-1 

 Exhibit I-2 

to 
 Master Throughput
Agreement 
  
  

Cheyenne Receiving Assets 

The four (4) Crude Oil LACTS Units, the Crude Oil Receiving Pipeline, and the petroleum storage tanks listed below under “Petroleum
Storage Tanks” transferred to Cheyenne Logistics pursuant to that certain Conveyance, Assignment and Bill of Sale (Cheyenne), dated effective as of October 25, 2011, by and between Frontier Cheyenne and Cheyenne Logistics. 

Petroleum Storage Tanks: 
  

					
	 TANK ID NUMBER
	  	 CURRENT SERVICE/PRODUCT
	  	 NOMINAL
CAPACITY, BBLS

	2-036	  	Recovered Oil / Crude slop	  	5,056
	2-063	  	Crude HSR	  	10,096
	2-067	  	Crude LSR	  	10,093
	2-072	  	Crude	  	80,581
	2-073	  	Crude	  	80,551
	2-074	  	Crude	  	79,766

  
 Exhibit I-2 

 Exhibit I-3 

to 
 Master Throughput
Agreement 
  
  

Cheyenne Tankage 
  

					
	 TANK ID NUMBER
	  	 CURRENT

SERVICE/PRODUCT
	  	 NOMINAL CAPACITY, BBLS

	1-107	  	Intermediate Distillate	  	69,942
	1-013	  	Coker Distillate	  	1,914
	1-014	  	Low Sul. Diesel	  	24,677
	1-015	  	No Lead Gas	  	24,677
	1-016	  	Ethanol	  	2,564
	1-017	  	Prem. No Lead Gas	  	5,034
	1-020	  	FCC Slurry Oil	  	5,018
	1-021	  	Sweet Naphtha / VRU	  	9,867
	1-027	  	Slop Oil	  	4,000
	1-028	  	BioDiesel	  	5,179
	1-029	  	Coker Gas Oil	  	10,709
	1-032	  	Diesel	  	10,124
	1-033	  	Coker Distillate	  	10,342
	1-040	  	FCC Slurry Oil	  	10,121
	1-048	  	Coker Distillate	  	1,341
	1-049	  	Coker Distillate	  	1,341
	1-050	  	Vacuum Bottoms	  	67,428
	1-051	  	Slurry	  	24,938
	1-052	  	PG 58-28 (Asphalt)	  	72,017
	1-053	  	FCCU Slurry	  	13,506
	1-054	  	FCCU Slurry	  	24,938
	1-055	  	PG 58-28 (Asphalt)	  	54,499
	1-056	  	Coker feed tank	  	61,709
	1-058	  	Coker Gas Oil	  	10,493
	1-090	  	PG 64-22 (Asphalt)	  	55,954
	1-091	  	PG 58-28 (Asphalt)	  	55,954
	1-093	  	PG 64-22 (Asphalt)	  	2,602
	1-094	  	PG 64-22 (Asphalt)	  	2,602
	1-095	  	PG 64-22 (Asphalt)	  	2,602
	1-106	  	Naptha	  	120,000
	1-108	  	Distillate	  	107,000
	1-117	  	Vacuum Bottoms	  	69,942
	2-015	  	Diesel	  	28,870
	2-016	  	Diesel	  	28,046
	2-017	  	UC Crack (LCO / Coker Distillate)	  	28,562
	2-020	  	Gas Oil	  	10,746

  
 Exhibit I-3 

					
	 TANK ID NUMBER
	  	 CURRENT

SERVICE/PRODUCT
	  	 NOMINAL CAPACITY, BBLS

	2-021	  	Gas Oil	  	10,746
	2-022	  	UC Crack (LCO / Coker Distillate)	  	9,731
	2-023	  	Coker Gas Oil	  	10,583
	2-028	  	Cat Gas Oil	  	80,153
	2-034	  	Reformate	  	23,234
	2-035	  	Alkylate	  	24,190
	2-060	  	Burner/Distillate	  	9,846
	2-061	  	Sweet Naphtha	  	10,096
	2-062	  	Naptha	  	9,970
	2-070	  	Sub Grade No Lead Gas	  	32,608
	2-071	  	Premium No Lead Gas	  	32,612
	2-075	  	Finished NL gasoline	  	80,278
	2-100	  	LSR/LSG	  	41,978
	2-101	  	Diesel	  	42,051
	2-102	  	No Lead Gas	  	80,278
	2-104	  	Reformate	  	54,749
	2-105	  	Cat Gas Oil	  	54,954

  
 Exhibit I-3 

 Exhibit I-4 

to 
 Master Throughput
Agreement 
  
  

Specifications for New Tank 
  

					
	 TANK ID NUMBER
	  	 CURRENT
SERVICE/PRODUCT
	  	NOMINAL CAPACITY, BBLS
	 2-118
	  	Light Straight Run	  	40,609
	 2-119
	  	FCCU Cat Gas	  	40,609
	 2-161
	  	Finished Diesel	  	40,485

  
 Exhibit I-4 

 Exhibit J 

to 
 Master Throughput
Agreement 
  
  

Special Provisions: Tulsa East Assets 

1. Change of Tankage Service. Subject to (i) any Applicable Law and (ii) technical specifications of the Tulsa Group 1
Tankage or the Tulsa Group 2 Tankage, HFRM may request that HEP Operating change the service of any of the Tulsa Group 1 Tankage or the Tulsa Group 2 Tankage from storage of one Product to storage of a different Product; provided, however,
that HFRM shall indemnify and hold HEP Operating harmless from and against all costs and expenses associated with any such changing of service including costs of complying with any Applicable Law affecting such change of service. 

2. Change of Interconnecting Pipeline Service. Subject to (i) any Applicable Law, (ii) technical specifications of the Tulsa
Interconnecting Pipelines, and (iii) right-of-way and license agreements, HFRM may request that HEP Operating change the service of any of the Interconnecting Pipelines; provided, however, that HFRM shall indemnify and hold HEP Operating
harmless from and against all costs and expenses associated with any such changing of service including costs of complying with any Applicable Law affecting such change of service. 

  
 Exhibit J 

 Exhibit J-1 

to 
 Master Throughput
Agreement 
  
  

Tulsa Group 1 Loading Rack 

The Propane Truck Loading Rack, Asphalt Truck Loading Rack and Gas Oil Truck Loading Rack transferred to HEP Tulsa LLC pursuant to that
certain Bill of Sale, Assignment and Assumption Agreement, dated December 1, 2009, by and between Sinclair Tulsa Refining Company and HEP Tulsa LLC. 

  
 Exhibit J-1 

 Exhibit J-2 

to 
 Master Throughput
Agreement 
  
  

Tulsa Group 1 Pipeline 

The two Product Delivery Pipelines transferred to HEP Tulsa LLC pursuant to that certain Bill of Sale, Assignment and Assumption Agreement,
dated December 1, 2009, by and between Sinclair Tulsa Refining Company and HEP Tulsa LLC. 

  
 Exhibit J-2 

 Exhibit J-3 

to 
 Master Throughput
Agreement 
  
  

Tulsa Group 1 Tankage 
  

					
	 TANK ID
	  	 REFINED PRODUCT
	  	 CAPACITY (BBLS)

	10	  	ULSD #2 (XT)	  	37,500
	11	  	ULSD #2 (XT)	  	37,500
	102	  	Kerosene	  	37,500
	103	  	Kerosene	  	37,500
	104A	  	ULSD #2 (XT)	  	37,500
	110	  	ULSD #1	  	37,500
	111	  	Kerosene	  	37,500
	115	  	ULSD #2 (XT)	  	150,421
	215	  	ULSD #2 (XT)	  	150,421
	116	  	Kerosene	  	37,500
	117	  	ULSD #2 (XT)	  	63,300
	450A	  	Premium Unleaded	  	12,574
	451	  	USLD #2 (XT)	  	11,700
	452A	  	USLD #2 (XT)	  	12,000
	464A	  	Unleaded Regular	  	73,000
	465	  	Unleaded Regular	  	79,320
	466	  	Unleaded Regular	  	79,320
	467A	  	Unleaded Regular	  	73,000
	470A	  	Unleaded Regular	  	151,020
	472	  	Unleaded Regular	  	151,000
	473A	  	Premium Unleaded (ST)	  	151,020
	601	  	Unleaded Regular	  	18,634
	602	  	Premium Unleaded (ST)	  	10,743
	603	  	USLD #2 (XT)	  	2,000
	605	  	Ethanol	  	3,528
	606	  	Empty	  	500

  
 Exhibit J-3 

 Exhibit J-4 

to 
 Master Throughput
Agreement 
  
  

Tulsa Group 2 Loading Rack 

The Rail Loading Rack transferred to HEP Tulsa LLC pursuant to that certain Conveyance, Assignment and Bill of Sale, dated March 31,
2010, by and between Holly Refining & Marketing – Tulsa LLC and HEP Tulsa LLC. 

  
 Exhibit J-4 

 Exhibit J-5 

to 
 Master Throughput
Agreement 
  
  

Tulsa Group 2 Tankage 
  

					
	 TANK ID
	  	 CURRENT SERVICE
	  	CAPACITY (BBLS)
	 1
	  	Crude	  	130,450
	 2
	  	Crude	  	130,000
	 3
	  	Crude	  	116,579
	 8
	  	Crude	  	130,233
	 123
	  	CSO	  	37,500
	 471
	  	Unleaded Gasoline	  	71,371
	 107A
	  	Flux/Asphalt	  	55,954
	 108A
	  	Flux/Asphalt	  	37,500
	 109
	  	Flux/Asphalt	  	37,500
	 125
	  	Flux/Asphalt	  	37,500
	 131
	  	Flux/Asphalt	  	37,500
	 442
	  	Gasoline blendstock	  	11,700
	 445A
	  	Gasoline blendstock	  	32,787
	 446
	  	Gasoline blendstock	  	11,700
	 444A
	  	Gasoline blendstock	  	32,832
	 460
	  	LSR	  	80,000
	 461A
	  	LSR	  	80,000
	 17
	  	FCCU LCO	  	37,500
	 114
	  	Raw Diesel	  	131,000
	 9
	  	Raw gas oil	  	150,260
	 15
	  	Raw gas oil	  	130,000
	 16
	  	Raw gas oil-Sour	  	151,078
	 6A
	  	Raw naphtha	  	69,082
	 4
	  	Scanfiner feed	  	120,566
	 40
	  	Raw gas oil	  	5,734
	 41
	  	CSO	  	4,032
	 34
	  	Truck loading-64/22 asphalt	  	11,798
	 36A
	  	Truck loading-58/28 asphalt	  	11,500
	 124A
	  	Flux/Asphalt	  	37,500
	 18A
	  	Slop	  	37,500
	 31
	  	Slop	  	15,000
	 7A
	  	Naptha	  	69,082
	 14
	  	Naptha	  	55,000

  
 Exhibit J-5 

 Exhibit K 

to 
 Master Throughput
Agreement 
  
  

Special Provisions: El Dorado Crude Tank Farm Assets 
  

	1.	El Dorado Terminal Operation. HEP Operating will use commercially reasonable efforts to maintain the El Dorado Terminal’s current connections to the pipelines owned and operated by (a) Osage Pipe Line
Company, LLC (the “Osage Pipeline”), (b) Rose Rock Midstream, L.P. (the “Rose Rock Pipeline”), and (c) MV Purchasing, LLC (the “MVP Pipeline”), but shall not be required to expend
additional monies in connection therewith unless agreed separately in writing with HFRM. HFRM may request HEP Operating to connect the El Dorado Crude Tankage to new pipelines, whether owned by third parties or by HFRM, subject to HEP
Operating’s approval of such connections and the engineering standards related to such; HEP Operating will not unreasonably withhold such approval. If HEP Operating approves any new connection requested by HFRM, HFRM will reimburse HEP
Operating the actual expenses incurred by HEP Operating that are associated with such connection, plus an administrative charge of fifteen percent (15%). In addition, the Minimum Throughput Commitment will be increased to account for any additional
expense HEP Operating bears in connection with ongoing operating expenses associated with such requested pipeline connection. Any HEP Operating expenditures requested by HFRM beyond pipeline connections will be negotiated separately.

  

	2.	Tank Use. HEP Operating shall make available to HFRM on an exclusive basis the shell capacity, minimum and maximum capacities, and working capacity for the El Dorado Crude Tankage. HEP Operating will make at
least two (2) of such tanks available for blending services at all times during the Applicable Term. HEP Operating and HFRM will work together to assign minimum and maximum capacities of each tank within sixty (60) days following the
commencement of the Applicable Term. These minimum and maximum capacities will be set to allow the most working capacity available to HFRM within reasonable industry practices. The minimum and maximum capacity for each tank will be used to determine
the working capacity of each tank (calculated by subtracting the minimum capacity from the maximum capacity for each Tank) (the “Working Capacity”). Once the Working Capacity is agreed upon, HEP may assign, in its sole discretion,
new maximum and minimum capacities to each tank if required to allow for safe operation. If HEP determines it is necessary to reduce the aggregate Working Capacity to less than 650,000 Barrels (as such volume may be adjusted pursuant to
Section 4 of this Exhibit K (the “El Dorado Minimum Working Capacity”), the Minimum Throughput Commitment will be reduced proportionately. HFRM may deliver or have delivered Product into the El Dorado Crude
Tankage from the El Dorado Refinery, the Osage Pipeline, the Rose Rock Pipeline or the MVP Pipeline. HFRM agrees not to deliver to the Terminal any Products which fail to meet the El Dorado Quality Specifications, or which would in any way be
injurious to the El Dorado Crude Tankage, or that may not lawfully be handled in the Tankage. HFRM shall be responsible for and pay for all damages resulting from handling of any Products by HFRM, its designee, or its consignee; provided, however,
so long as the Products meet the El Dorado Quality Specifications, HFRM shall not be responsible for damages arising from the negligence or willful misconduct of HEP, its agents, employees or contractors or from ordinary wear and tear.

  

	3.	 Terminal Maintenance, Changes, or Installations. HEP Operating shall make the El Dorado Crude Tankage available for HFRM’s exclusive use
except for times at which a tank must be taken out of service for routine maintenance, in which event HEP Operating will use commercially reasonable efforts to minimize the duration of the outage. HEP Operating may take

  
 Exhibit K 

	 	
more than one tank out of service due to unplanned maintenance, environmental, or operational occurrences and may schedule more than one tank out of service if the duration is minimal (i.e. less
than 1 week for seal inspection or mixer repair on top of an API 653 of another tank), but HEP Operating will not schedule more than one tank out of service for extended overlapping periods (e.g., two API 653s at the same time overlapping 1+ weeks).
HEP Operating will provide HFRM written notice at least forty-five (45) days prior to any scheduled maintenance, changes or installations affecting the El Dorado Crude Tankage. In the event HEP Operating cannot provide any or all of the
services during any maintenance, changes or installations within the El Dorado Terminal, or if such maintenance, changes or installations causes HEP Operating to take any tank out of service and HEP Operating does not provide a substitute tank in
the place of such tank, the Minimum Throughput Commitment shall be reduced by the Working Capacity of such out-of-service tank for the duration of such outage. 

  

	4.	Right of First Refusal. HEP Operating may not lease or pledge or commit to provide any storage services with respect to the El Dorado Crude Tankage or the Jayhawk Tankage (after the expiration of the Jayhawk
Lease) at the El Dorado Terminal to a third party unless HEP Operating first offers to HFRM the exclusive right to use the Working Capacity of such tanks on substantially the same terms as HEP Operating has previously negotiated with a third party
in arms-length negotiations. HFRM will have thirty (30) days (the “El Dorado Crude Tank Farm Consideration Period”) to consider the option to utilize such Working Capacity and to provide notice to HEP Operating of its election
to accept or decline such Working Capacity. If HFRM has not notified HEP Operating within 30 days, then HEP Operating may proceed to enter into an agreement with the third party for such Working Capacity; provided, however, that if HEP Operating
does not enter into an agreement with the third party within sixty (60) days following HFRM’s notice to decline or the expiration of the El Dorado Crude Tank Farm Consideration Period, then HFRM’s rights under this
Section 4 will apply to any subsequent bona fide third party offer to HEP Operating regarding such Working Capacity. 

  

	5.	Jayhawk Tankage. In the event that the Jayhawk Lease expires or is otherwise terminated or cancelled for any reason and the Jayhawk Tankage are not leased within a reasonable time (not to exceed sixty 60)
days) to a third party as contemplated by Section 4 of this Exhibit K, HEP Operating agrees to make the Working Capacity of the Jayhawk Tankage available for HFRM’s exclusive use, and HFRM agrees to increase the Minimum
Throughput Commitment by an amount equal to (a) the monthly storage fee that Jayhawk paid to HEP Operating during the last 12 months of the Jayhawk Lease, divided by the Working Capacity of the Jayhawk Tankage, and the El Dorado Minimum
Working Capacity shall be increased by an amount equal to two-thirds (2/3) of the Working Capacity of such Jayhawk Tankage. HFRM’s use of the Jayhawk Tankage will be added to this Agreement as an amendment with all terms and conditions
being consistent with this Agreement, and thereafter the term “El Dorado Crude Tankage” as used herein shall include the Jayhawk Tankage. 

  

	6.	Right to Refuse. HEP Operating reserves the right to refuse receipt of any Product into the El Dorado Terminal, alternatively route such Product to another location, or take other appropriate action in regards to
such Product if Product does not meet the El Dorado Quality Specifications. HFRM, if requested in writing, will provide HEP Operating with notice setting forth the quantity, quality, and specifications of Product to be delivered a minimum of four
(4) hours prior to any delivery to the El Dorado Terminal. Any reasonable costs incurred by HEP Operating in connection with addressing or handling HFRM’s Product that does not meet the El Dorado Quality Specifications shall be borne by
HFRM. 

  
 Exhibit K 

	7.	Terminal Damage or Destruction. If any part of the El Dorado Terminal or the El Dorado Crude Tankage are damaged or destroyed by fire or other casualty, HEP Operating shall have the discretion to reduce receipts
into and deliveries out of the El Dorado Terminal and to allocate any remaining El Dorado Terminal capacity and throughput fairly and reasonably among various customers utilizing terminalling services at the El Dorado Terminal. HEP Operating may,
but shall not be obligated to, repair or replace such damaged or destroyed terminal facilities or Tanks. 

  

	8.	Delivery Lines. The El Dorado Crude Tankage is connected to the El Dorado Refinery by two 16” delivery lines, together with associated piping necessary for Product movements into and out of the El Dorado
Crude Tankage (the “El Dorado Delivery Lines”). HEP Operating will operate the El Dorado Delivery Lines for HFRM’s exclusive use. HEP Operating will operate one of the 16” El Dorado Delivery Lines for Product movements
from the El Dorado Crude Tankage to the El Dorado Refinery with a capacity to deliver (a) 130,000 bpd based on a maximum viscosity of 350 SUS at 60 degrees Fahrenheit when operating only one El Dorado Delivery Line, and (b) 165,000 bpd
based on a maximum viscosity of 350 SUS at 60 degrees Fahrenheit when operating both El Dorado Delivery Lines. HEP Operating will operate the other 16” El Dorado Delivery Line for bidirectional use. HEP Operating will maintain the El Dorado
Delivery Lines to gravity feed Product to the El Dorado Refinery or, upon request of HFRM, to pump Product to the El Dorado Refinery at a pressure of at least 25 psig (when operating one El Dorado Delivery Line) and 50 psig (when operating both El
Dorado Delivery Lines), as measured at the El Dorado Refinery receipt point. HEP Operating will maintain at least two (2) full-sized pumps for this service and will operate the pumps at HFRM’s request. 

 

	9.	Products Testing. At HFRM’s request and upon HEP Operating’s approval, such approval not to be unreasonably withheld, delayed or conditioned, HEP Operating shall provide sampling and testing services
for HFRM’s Products at the El Dorado Terminal. All fees for Product testing shall be billed to HFRM at HEP Operating’s actual cost. 

  
 Exhibit K 

 Exhibit K-1 

to 
 Master Throughput
Agreement 
  
  

El Dorado Crude Tankage and Jayhawk Tankage 
  

	1.	El Dorado Crude Tankage: 

  

					
	 Tank ID Number
	  	 Current Service/Product
	  	Nominal Capacity, BBLs
	4150	  	Crude	  	80,000
	4153	  	Crude	  	80,000
	4154	  	Crude	  	80,000
	4155	  	Crude	  	125,000
	4156	  	Crude	  	125,000
	4157	  	Crude	  	125,000
	4158	  	Crude	  	125,000
	4159	  	Crude	  	125,000
	4160	  	Crude	  	125,000

  

	2.	Jayhawk Tankage: 

  

					
	 Tank ID Number
	  	 Current Service/Product
	  	Nominal Capacity, BBLs
	4151	  	Crude	  	80,000
	4152	  	Crude	  	80,000

  
 Exhibit K-1 

 Exhibit K-2 

to 
 Master Throughput
Agreement 
  
  

El Dorado Terminal Quality Specifications 

Petroleum liquid that has a true vapor pressure equal to or greater than 1.5 psia but not greater than 11.1 psia. 

  
 Exhibit K-2EX-10.3

 Exhibit 10.3 
  

 
  

EXECUTION VERSION 

CONSTRUCTION PAYMENT AGREEMENT 

(Artesia Rail Yard) 

BETWEEN 
 HEP REFINING,
L.L.C. 
 AND 

HOLLYFRONTIER REFINING AND MARKETING LLC 

with an Effective Date of 

November 1, 2014 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page No.	 
	 ARTICLE I DEFINITIONS AND CONSTRUCTION
	  	 	1	  
			
	 1.1
	 	 Certain Defined Terms
	  	 	1	  
	 1.2
	 	 Interpretation
	  	 	1	  
		
	 ARTICLE II CONSTRUCTION OF TRACK; REIMBURSEMENT FOR TRACK CONSTRUCTION
	  	 	1	  
			
	 2.1
	 	 Construction of Track
	  	 	1	  
	 2.2
	 	 Reimbursement for Track Construction
	  	 	2	  
	 2.3
	 	 Adjustment for Annual Payment Amount
	  	 	2	  
	 2.4
	 	 Place of Payment
	  	 	2	  
	 2.5
	 	 Early Termination
	  	 	2	  
		
	 ARTICLE III DEFAULTS; REMEDIES; TERMINATION
	  	 	2	  
			
	 3.1
	 	 Default by HFRM
	  	 	2	  
	 3.2
	 	 HEP’s Remedies
	  	 	3	  
	 3.3
	 	 Default by HEP
	  	 	3	  
	 3.4
	 	 HFRM’s Remedies
	  	 	3	  
		
	 ARTICLE IV GUARANTEE
	  	 	4	  
			
	 4.1
	 	 Guarantee by HollyFrontier
	  	 	4	  
	 4.2
	 	 Guaranty Absolute
	  	 	4	  
	 4.3
	 	 Waiver
	  	 	4	  
	 4.4
	 	 Subrogation Waiver
	  	 	4	  
	 4.5
	 	 Reinstatement
	  	 	5	  
	 4.6
	 	 Continuing Guaranty
	  	 	5	  
	 4.7
	 	 No Duty to Pursue Others
	  	 	5	  
		
	 ARTICLE V GENERAL PROVISIONS
	  	 	5	  
			
	 5.1
	 	 Assignment Prohibition
	  	 	5	  
	 5.2
	 	 Severability
	  	 	5	  
	 5.3
	 	 Time of Essence
	  	 	5	  
	 5.4
	 	 Captions
	  	 	5	  
	 5.5
	 	 Entire Agreement; Amendment
	  	 	5	  
	 5.6
	 	 Schedules and Exhibits
	  	 	5	  
	 5.7
	 	 Notices
	  	 	6	  
	 5.8
	 	 Waivers
	  	 	7	  
	 5.9
	 	 No Partnership
	  	 	7	  
	 5.10
	 	 No Third Party Beneficiaries
	  	 	7	  
	 5.11
	 	 Mutual Cooperation; Further Assurances
	  	 	7	  
	 5.12
	 	 Binding Effect
	  	 	7	  
	 5.13
	 	 Choice of Law
	  	 	7	  
	 5.14
	 	 Survival
	  	 	8	  

 SCHEDULES 
  

					
	Schedules	    		 	
	 Schedule 2.2
	    	—	 	Calculation of Annual Payment Amount
	 Schedule 2.5
	    	—	 	Calculation of Early Termination Payment Amount

  
 ii 

 CONSTRUCTION PAYMENT AGREEMENT 

(Artesia Rail Yard) 
 THIS
CONSTRUCTION PAYMENT AGREEMENT (this “Agreement”) is made and entered as of October 16, 2015 into to be effective as of the 1st day of November, 2014 (the
“Effective Date”), between HEP REFINING, L.L.C., a Delaware limited liability company (herein called “HEP”), and HOLLYFRONTIER REFINING & MARKETING LLC, a Delaware limited
liability company (herein called “HFRM”). HEP and HFRM are referred to individually as a “Party” and collectively as the “Parties.” 

RECITALS: 
 A. HFRM
has subleased from HEP certain land situated at or near the railway station of Artesia, County of Eddy, New Mexico (the “Land”) pursuant to a certain Sublease Agreement dated to be effective as of November 1, 2014 (the
“Ground Sublease”). 
 B. Pursuant to Section 7.1 of the Ground Sublease, HEP has constructed on the
Land a railroad track siding consisting of approximately 8,300 track feet of siding (rail storage), two mainline switches and three industry switches (the “Track”), which is owned by HEP. As used herein, the term Track does
not include (i) the Land and (ii) the Additional Improvements. 
 C. HEP has agreed to lease the Track to HFRM pursuant to a
certain Track Lease Agreement dated to be effective as of November 1, 2014 (the “Track Lease”). 
 D. HFRM has
agreed to reimburse HEP in the amount of $4,194,014 (the “Track Construction Cost”) for costs incurred by HEP in constructing the Track, subject to the terms and conditions set forth in this Agreement. 

AGREEMENT: 

NOW, THEREFORE, for and in consideration of covenants, obligations and undertakings of the Parties set forth herein, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, HEP and HFRM covenant and agree as follows: 

ARTICLE I 

DEFINITIONS AND CONSTRUCTION 

1.1 Certain Defined Terms. Unless the context otherwise requires, capitalized terms used in this Agreement shall have the
respective meanings set forth in Appendix A hereto. 
 1.2 Interpretation. Interpretation matters are set forth in
Appendix B hereto. 
 ARTICLE II 

CONSTRUCTION OF TRACK; REIMBURSEMENT FOR TRACK CONSTRUCTION 

2.1 Construction of Track. HEP represents and warrants that HEP designed, fabricated, constructed, installed and tested the
Track in accordance with applicable law, all applicable requirements of the Ground Sublease, and current and generally accepted industry practices, and pursuant to drawings and specifications previously approved by HFRM. 

 2.2 Reimbursement for Track Construction. As payment to HEP for the Track
Construction Cost, during each Contract Year during the Term HFRM shall pay to HEP the Track Construction Cost divided by 9.2, as such amount may be adjusted pursuant to Section 2.2 (the “Annual Payment
Amount”). The Annual Payment Amount shall be paid in equal quarterly payments (each, a “Quarterly Payment”) on or before the last day of each Contract Quarter during the Term, with the first such payment being
due ten (10) business days after the date this Agreement is signed by both Parties. 
 2.3 Adjustment of Annual Payment
Amount. The Annual Payment Amount shall be adjusted on the first day of each Contract Year, commencing in 2015, by an amount equal to the annual change in the PPI rounded to four decimal places; provided, however, that (a) the
cumulative annual percentage increase in the Annual Payment Amount during the term of this Agreement shall not exceed three percent (3%), and (b) Annual Payment Amount, as adjusted, shall not be decreased below the Annual Payment Amount
applicable as of the Commencement Date. The change factor shall be calculated as follows: annual PPI index (most current year) less annual PPI index (most current year minus 1) divided by annual PPI index (most current year minus 1).
The formula for determining adjustments in the Annual Payment Amount is set forth on Schedule 2.3. 
 2.4 Place of
Payment. The Quarterly Payments shall be payable in lawful money of the United States of America at HEP’s address set forth in Section 5.7. The Annual Payment Amount shall be paid without any claim on the part of HFRM for
diminution, setoff or abatement and nothing shall suspend, abate or reduce any Annual Payment Amount to be paid hereunder, except as expressly provided herein. 

2.5 Early Termination. In the event the Track Lease is terminated prior to its Expiration Date (as defined therein) for reasons
other than the fault or breach of HEP pursuant to the Track Lease or Railroad Lease (as defined in the Track Lease), then, as HEP’s exclusive remedy hereunder, HFRM shall pay to HEP and HEP shall accept, an amount sufficient to reimburse HEP
for the remaining unamortized amount of the Track Construction Cost (the “Early Termination Amount”), such amount to be calculated as provided in Schedule 2.5 and paid to HEP within thirty (30) days of the
date of such early termination. The Early Termination Amount shall not be payable to HEP in the event the Track Lease is terminated prior to its Expiration Date due to the fault or breach of HEP under the Track Lease or the Railroad Lease (as
defined in the Track Lease). The rights and obligations set forth in this Section 2.5 shall survive any termination of the Track Lease or this Agreement. 

ARTICLE III 

DEFAULTS; REMEDIES; TERMINATION 

3.1 Default by HFRM. The occurrence of any one or more of the following events shall constitute a material default and breach of
this Agreement by HFRM: 
 (a) The failure by HFRM to make when due any payment of a Quarterly Payment or any other payment required to be
made by HFRM hereunder, if such failure continues for a period of 90 days following written notice from HEP; 
 (b) The failure by HFRM to
observe or perform any of the other covenants, conditions or provisions of this Agreement to be observed or performed by HFRM, if such failure continues for a period of thirty (30) days following written notice from HEP of such failure;
provided, however, if a reasonable time to cure such default would exceed thirty (30) days, HFRM shall not be in default so long as HFRM begins to cure such default within thirty (30) days of receiving written notice from HEP and
thereafter completes the curing of such default within reasonable period of time (under the circumstances) following the receipt of such written notice from HEP; or 

  
 2 

 (c) The occurrence of any Bankruptcy Event. 

3.2 HEP’s Remedies. 

(a) In the event of any such material default under or material breach of the terms of this Agreement by HFRM, HEP may, at HEP’s option,
at any time thereafter that such default or breach remains uncured, without further notice or demand, terminate this Agreement and pursue all of its rights and remedies available under law or in equity, including, but not limited to, the remedies
provided for in Section 2.5. 
 (b) If, by the terms of this Agreement, HFRM is required to do or perform any act or to pay any
sum to a Third Party, and fails or refuses to do so, HEP, after thirty (30) days written notice to HFRM, without waiving any other right or remedy hereunder for such default, may do or perform such act, at HFRM’s expense, or pay such sum
for and on behalf of HFRM, and the amounts so expended by HEP shall be repayable on demand, and bear interest from the date expended by HEP until paid at a rate equal to an interest rate equal to the “Prime Rate” as published in The
Wall Street Journal, Southwest Edition, in its listing of “Money Rates” plus two percent (2%) (the “Default Rate”). Past due payments required hereunder shall bear interest from maturity until paid at the Default
Rate. 
 3.3 Default by HEP. The occurrence of any one or more of the following events shall constitute a material default and
breach of this Agreement by HEP: 
 (a) The failure by HEP to observe or perform any of the other covenants, conditions or provisions of
this Agreement to be observed or performed by HEP, if such failure continues for a period of 30 days following written notice from HFRM; provided, however, if a reasonable time to cure such default would exceed thirty (30) days, HEP shall not
be in default so long as HEP begins to cure such default within thirty (30) days of receiving written notice from HFRM and thereafter completes the curing of such default within a reasonable period of time following the receipt of such written
notice from HFRM; or 
 (b) The occurrence of a Bankruptcy Event. 

3.4 HFRM’s Remedies. In the event of any such material default under or material breach of the terms of this Agreement by
HEP, HFRM may, at HFRM’s option, at any time thereafter that such default or breach remains uncured, after ten days prior written notice to HFRM, perform any act that HEP is required to do or perform any act or to pay any sum to a Third Party,
at HEP’s expense (to the extent the terms of this Agreement require such performance at HEP’s expense) or pay such sum for and on behalf of HEP, and the amounts so expended by HFRM shall be repayable on demand, and bear interest from the
date expended by HFRM until paid at the Default Rate. HFRM may, at HFRM’s option, deduct any such amounts so expended by HFRM from the Quarterly Payment(s) and any other amounts owed hereunder and any such action on the part of HFRM shall be in
addition to any other remedy that may be available to HFRM for default or breach of contract, or otherwise, including the right of setoff 

  
 3 

 ARTICLE IV 

GUARANTEES 
 4.1
Guarantee by HollyFrontier. HollyFrontier Corporation, a Delaware corporation (“HollyFrontier”) unconditionally, absolutely, continually and irrevocably guarantees, as principal and not as surety, to HEP the punctual
and complete payment in full when due of all amounts due from HFRM under this Agreement (collectively, the “HFRM Payment Obligations”). HollyFrontier agrees that HEP shall be entitled to enforce directly against HollyFrontier any of
the HFRM Payment Obligations. 
 4.2 Guaranty Absolute. HollyFrontier hereby guarantees that the HFRM Payment Obligations will
be paid strictly in accordance with the terms of the Agreement. The obligations of HollyFrontier under this Agreement constitute a present and continuing guaranty of payment, and not of collection or collectability. The liability of HollyFrontier
under this Agreement shall be absolute, unconditional, present, continuing and irrevocable irrespective of: 
 (a) any
assignment or other transfer of this Agreement or any of the rights thereunder of HEP; 
 (b) any amendment, waiver, renewal,
extension or release of or any consent to or departure from or other action or inaction related to this Agreement; 
 (c) any
acceptance by HEP of partial payment or performance from HFRM; 
 (d) any bankruptcy, insolvency, reorganization,
arrangement, composition, adjustment, dissolution, liquidation or other like proceeding relating to HFRM or any action taken with respect to this Agreement by any trustee or receiver, or by any court, in any such proceeding; 

(e) any absence of any notice to, or knowledge of, HollyFrontier, of the existence or occurrence of any of the matters or
events set forth in the foregoing subsections (a) through (d); or 
 (f) any other circumstance which might otherwise
constitute a defense available to, or a discharge of, a guarantor. 
 The obligations of HollyFrontier hereunder shall not be subject to any
reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by
reason of the invalidity, illegality or unenforceability of the HFRM Payment Obligations or otherwise. 
 4.3 Waiver.
HollyFrontier hereby waives promptness, diligence, all setoffs, presentments, protests and notice of acceptance and any other notice relating to any of the HFRM Payment Obligations and any requirement for HEP to protect, secure, perfect or insure
any security interest or lien or any property subject thereto or exhaust any right or take any action against HFRM, any other entity or any collateral. 

4.4 Subrogation Waiver. HollyFrontier agrees that for so long as there is a current or ongoing default or breach of this
Agreement by HFRM, HollyFrontier shall not have any rights (direct or indirect) of subrogation, contribution, reimbursement, indemnification or other rights of payment or recovery from HFRM for any payments made by HollyFrontier under this
Article IV, and HollyFrontier 

  
 4 

 
hereby irrevocably waives and releases, absolutely and unconditionally, any such rights of subrogation, contribution, reimbursement, indemnification and other rights of payment or recovery it may
now have or hereafter acquire against HFRM during any period of default or breach of this Agreement by HFRM until such time as there is no current or ongoing default or breach of this Agreement by HFRM. 

4.5 Reinstatement. The obligations of HollyFrontier under this Article IV shall continue to be effective or shall be
reinstated, as the case may be, if at any time any payment of any of the HFRM Payment Obligations is rescinded or must otherwise be returned to HFRM or any other entity, upon the insolvency, bankruptcy, arrangement, adjustment, composition,
liquidation or reorganization of HFRM or such other entity, or for any other reason, all as though such payment had not been made. 
 4.6
Continuing Guaranty. This Article IV is a continuing guaranty and shall (i) remain in full force and effect until the first to occur of the indefeasible payment in full of all of the HFRM Payment Obligations, (ii) be
binding upon HollyFrontier, its successors and assigns and (iii) inure to the benefit of and be enforceable by HEP and its respective successors, transferees and assigns. 

4.7 No Duty to Pursue Others. It shall not be necessary for HEP (and HollyFrontier hereby waives any rights which HollyFrontier
may have to require HEP), in order to enforce such payment by HollyFrontier, first to (i) institute suit or exhaust its remedies against HFRM or others liable on the HFRM Payment Obligations or any other person, (ii) enforce HEP’s
rights against any other guarantors of the HFRM Payment Obligations, (iii) join HFRM or any others liable on the HFRM Payment Obligations in any action seeking to enforce this Article IV, (iv) exhaust any remedies available to HEP
against any security which shall ever have been given to secure the HFRM Payment Obligations, or (v) resort to any other means of obtaining payment of the HFRM Payment Obligations. 

ARTICLE V 
 GENERAL
PROVISIONS 
 5.1 Assignment Prohibition. HFRM shall not, either voluntarily or by operation of law, assign, transfer,
mortgage, encumber, pledge or hypothecate this Agreement or HFRM’s interest in this Agreement, in whole or in part, without the prior written consent of HEP, which shall not be unreasonably withheld. 

5.2 Severability. The invalidity or unenforceability of any provision of this Agreement, as determined by a court of competent
jurisdiction, shall in no way affect the validity or enforceability of any other provision hereof. 
 5.3 Time of Essence.
Time is of the essence in the performance of all obligations hereunder. 
 5.4 Captions. The headings to Articles, Sections
and other subdivisions of this Agreement are inserted for convenience of reference only and will not affect the meaning or interpretation of this Agreement. 

5.5 Entire Agreement; Amendment. This Agreement, including the exhibits and schedules attached hereto, constitutes the entire
agreement and understanding between the parties hereto with respect to the reimbursement of HEP by HFRM for the Track Construction Cost, and supersedes all prior and contemporaneous agreements and undertakings of the parties, in connection herewith.
This Agreement may be modified in writing only, signed by the parties in interest at the time of modification. 
 5.6 Schedules and
Exhibits. All schedules and exhibits hereto which are referred to herein are hereby made a part hereof and incorporated herein by such reference. 

  
 5 

 5.7 Notices. Any notice or other communication given under this Agreement shall be
in writing and shall be (i) delivered personally, (ii) sent by documented overnight delivery service, (iii) sent by email transmission, or (iv) sent by first class mail, postage prepaid (certified or registered mail, return
receipt requested). Such notice shall be deemed to have been duly given (x) if received, on the date of the delivery, with a receipt for delivery, (y) if refused, on the date of the refused delivery, with a receipt for refusal, or
(z) with respect to email transmissions, on the date the recipient confirms receipt. Notices or other communications shall be directed to the following addresses: 

Notices to HEP: 
 HEP Refining,
L.L.C. 
 2828 N. Harwood Street, Suite 1300 

Dallas, Texas 75201 
 Attn:
President 
 Email address: president-hep@hollyenergy.com 

with a copy, which shall not constitute notice, but is required in order to give proper notice, to: 

HEP Refining, L.L.C. 
 2828 N.
Harwood Street, Suite 1300 
 Dallas, Texas 75201 

Attn: General Counsel 
 Email
address: general.counsel@hollyenergy.com 
 Notices to HFRM: 

HollyFrontier Refining & Marketing LLC 

2828 N. Harwood Street, Suite 1300 

Dallas, Texas 75201 
 Attn:
President 
 Email address: president@hollyfrontier.com 

with a copy, which shall not constitute notice, but is required in order to give proper notice, to: 

HollyFrontier Refining & Marketing LLC 

2828 N. Harwood Street, Suite 1300 

Dallas, Texas 75201 
 Attn:
General Counsel 
 Email address: generalcounsel@hollyfrontier.com 

  
 6 

 Notices to HollyFrontier: 

HollyFrontier Corporation 

2828 N. Harwood Street, Suite 1300 

Dallas, Texas 75201 
 Attn:
President 
 Email address: president@hollyfrontier.com 

with a copy, which shall not constitute notice, but is required in order to give proper notice, to: 

HollyFrontier Corporation 

2828 N. Harwood Street, Suite 1300 

Dallas, Texas 75201 
 Attn:
General Counsel 
 Email address: generalcounsel@hollyfrontier.com 

Any Party or HollyFrontier may at any time change its address for service from time to time by giving notice to the other Parties and
HollyFrontier in accordance with this Section 5.7. 
 5.8 Waivers. No waiver or waivers of any breach or default
or any breaches or defaults by either Party of any term, condition or liability of or performance by the other party of any duty or obligation hereunder shall be deemed or construed to be a waiver or waivers of subsequent breaches or defaults of any
kind, character or description under any circumstance. The acceptance of a Quarterly Payment hereunder by HEP shall not be a waiver of any preceding breach by HFRM of any provision hereof, other than the failure of HFRM to pay the particular
Quarterly Payment so accepted, regardless of HEP’s knowledge of such preceding breach at the time of acceptance of such Quarterly Payment. 

5.9 No Partnership. The relationship between HEP and HFRM at all times shall remain solely that of landlord and tenant and shall
not be deemed a partnership or joint venture. 
 5.10 No Third Party Beneficiaries. Subject to the provisions of
Section 5.12 hereof, this Agreement inures to the sole and exclusive benefit of HEP and HFRM, their respective Affiliates, successors, legal representatives and assigns, and confers no benefit on any Third Party. 

5.11 Mutual Cooperation; Further Assurances. Upon request by either Party from time to time during the Term, each Party hereto
agrees to execute and deliver all such other and additional instruments, notices and other documents and do all such other acts and things as may be reasonably necessary to carry out the purposes of this Agreement and to more fully assure the
Parties’ rights and interests provided for hereunder. 
 5.12 Binding Effect. Subject to the provisions of Article
IV, and except as herein otherwise expressly provided, this Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns. 

5.13 Choice of Law. The provisions of this Agreement shall be governed by and construed in accordance with the laws of the State
of Texas, excluding any conflicts-of-law rule or principle that might require the application of laws of another jurisdiction. 

  
 7 

 5.14 Survival. All obligations of HEP and HFRM that shall have accrued under this
Agreement prior to the expiration or earlier termination hereof shall survive such expiration or termination to the extent the same remain unsatisfied as of the expiration or earlier termination of this Agreement. HEP and HFRM further expressly
agree that all provisions of this Agreement which contemplate performance after the expiration or earlier termination hereof shall survive such expiration or earlier termination of this Agreement. 

[Remainder of Page Intentionally Left Blank] 

  
 8 

 The parties hereto have executed this Agreement to be effective as of the Effective Date. 

 

							
		 	HEP:
			
		 		 	 HEP REFINING, L.L.C.,
 a Delaware
limited liability company

				
		 		 	By:	 	 /s/ Bruce R. Shaw

		 		 	Name:	 	Bruce R. Shaw
		 		 	Title:	 	President
		
		 	HFRM:
			
		 		 	HOLLYFRONTIER REFINING & MARKETING LLC, a Delaware limited liability company
				
		 		 	By:	 	 /s/ Michael C. Jennings

		 		 	Name:	 	Michael C. Jennings
		 		 	Title:	 	CEO and President

 ACKNOWLEDGEMENT AND AGREEMENT 

HollyFrontier Corporation hereby agrees solely to the provisions of Article IV of the foregoing Agreement. 

 

							
		 		 	HOLLYFRONTIER CORPORATION,
		 		 	a Delaware corporation
				
		 		 	By:	  	 /s/ Michael C. Jennings

		 		 	Name:	  	Michael C. Jennings
		 		 	Title:	  	CEO and President

  
 9 

 APPENDIX A 

TO 
 CONSTRUCTION
PAYMENT AGREEMENT 
  
  

Defined Terms 

“Affiliates” means, with to respect to a specified person, any other person controlling, controlled by or under common
control with that first person. As used in this definition, the term “control” includes (i) with respect to any person having voting securities or the equivalent and elected directors, managers or persons performing similar functions,
the ownership of or power to vote, directly or indirectly, voting securities or the equivalent representing 50% or more of the power to vote in the election of directors, managers or persons performing similar functions, (ii) ownership of 50%
or more of the equity or equivalent interest in any person and (iii) the ability to direct the business and affairs of any person by acting as a general partner, manager or otherwise. Notwithstanding the foregoing, for purposes of this
Agreement, the Holly Entities, on the one hand, and the HEP Entities, on the other hand, shall not be considered affiliates of each other. 

“Bankruptcy Event” means, in relation to any Party, (i) the making of a general assignment for the benefit of
creditors by such Party; (ii) the entering into of any arrangement or composition with creditors as a result of insolvency (other than for the purposes of a solvent reconstruction or amalgamation); (iii) the institution by such Party of
proceedings (a) seeking to adjudicate such Party as bankrupt or insolvent or seeking protection or relief from creditors, or (b) seeking liquidation, winding up, or rearrangement, reorganization or adjustment of such Party or its debts
(other than for purposes of a solvent reconstruction or amalgamation), or (c) seeking the entry of an order for the appointment of a receiver, trustee or other similar official for such Party or for all or a substantial part of such
Party’s assets; or (iv) the institution of any proceeding of the type described in (iii) above against such Party, which proceeding shall not have been dismissed within ninety (90) days following its institution. 

“Contract Quarter” means a three-month period that commences on July 1, October 1, January 1,
or April 1, and ends on September 30, December 31, March 31 or June 30, respectively, except that the initial Contract Quarter shall commence on the Effective Date and end on December 31, 2014. 

“Contract Year” means a year that commences on July 1 and ends on the last day of June, except that the initial
Contract Year shall commence on the Effective Date. 
 “Expiration Date” means October 31, 2039. 

“Governmental Authority” means any federal, state, local or foreign government or any provincial, departmental or
other political subdivision thereof, or any entity, body or authority exercising executive, legislative, judicial, regulatory, administrative or other governmental functions or any court, department, commission, board, bureau, agency,
instrumentality or administrative body of any of the foregoing. 
 “Person” means any individual or entity,
including any partnership, corporation, association, joint stock company, trust, joint venture, limited liability company, unincorporated organization or Governmental Authority (or any department, agency or political subdivision thereof). 

“PPI” means the Producers Price Index Finished Good Index. 

  
 Appendix A 

 “Railroad” means BNSF Railway Company, a Delaware corporation. 

“Substantial Completion” means the stage in the construction of the Track when the Track is sufficiently complete in
accordance with the drawings and specifications so that HFRM can occupy and utilize the Track for its intended purpose pursuant to the Track Lease. 

“Term” means the period commencing on 12:01 a.m. of the Commencement Date and expiring at midnight on the Expiration
Date. 
 “Third Party” shall mean a Person which is not (a) HEP or an Affiliate of HEP, (b) HFRM or an
Affiliate of HFRM or (c) a Person that, after the signing of this Agreement becomes a successor entity of HEP, HFRM or any of their respective Affiliates. An employee of HEP or HFRM shall not be deemed an Affiliate. 

In addition, the following terms have the meanings given to them in the Sections indicated in the following table: 

 

			
	 Term
	  	 Section

	 Agreement
	  	Recitals
	 Annual Payment Amount
	  	Section 2.2
	 Default Rate
	  	Section 3.2(b)
	 Early Termination Amount
	  	Section 2.5
	 Effective Date
	  	Preface
	 HEP
	  	Preface
	 HFRM
	  	Preface
	 HFRM Payment Obligations
	  	Section 6.1
	 HollyFrontier
	  	Section 6.1
	 Party and Parties
	  	Preface
	 Quarterly Payment
	  	Section 2.2
	 Track
	  	Recitals
	 Track Construction Cost
	  	Recitals
	 Track Lease
	  	Recitals

  
 Appendix A 

 APPENDIX B 

TO 
 CONSTRUCTION
PAYMENT AGREEMENT 
  
  

Interpretation 
 As used
in this Agreement, unless a clear contrary intention appears: 
 (a) the singular includes the plural and vice versa; 

(b) reference to any Person includes such Person’s successors and assigns but, in the case of a Party, only if such successors and
assigns are permitted by this Agreement, and reference to a Person in a particular capacity excludes such Person in any other capacity; 

(c) reference to any agreement (including this Agreement), document or instrument means such agreement, document, or instrument as amended or
modified and in effect from time to time in accordance with the terms thereof and, if applicable, the terms of this Agreement; 
 (d)
reference to any Section means such Section of this Agreement, and references in any Section or definition to any clause means such clause of such Section or definition; 

(e) “hereunder”, “hereof”, “hereto” and words of similar import will be deemed references to this Agreement as a
whole and not to any particular Section or other provision hereof or thereof; 
 (f) “including” (and with correlative meaning
“include”) means including without limiting the generality of any description preceding such term; and 
 (g) relative to the
determination of any period of time, “from” means “from and including,” “to” means “to but excluding” and ‘through” means “through and including.” 

  
 Appendix B 

 SCHEDULE 2.3 

CALCULATION OF ADJUSTMENTS TO ANNUAL PAYMENT AMOUNT 

ARTESIA RAIL SIDING PPI FORMULA TABLE 
 Example

  

													
	 Beginning

of Year [x]
	 	 APA

($)
	 	 PPI

Data point
	 	 PPI

change
	 	 APA w/

cumulative
PPI change
	 	 PPI

3% max
	 	 APA w/

cumulative
 3%
max

	 1
	 	455,871	 	100.0	 	n/a	 		 	n/a	 	
	 2
	 	469,547	 	104.0	 	4.00%	 	474,106	 	103.0	 	469,547
	 3
	 	478,665	 	105.0	 	0.96%	 	478,665	 	106.1	 	483,634
	 4
	 	494,620	 	108.5	 	3.33%	 	494,620	 	109.3	 	498,143
	 5
	 	513,087	 	113.0	 	4.15%	 	515,134	 	112.6	 	513,087
	 6
	 	524,252	 	115.0	 	1.77%	 	524,252	 	115.9	 	528,480
	 7
	 	544,334	 	120.0	 	4.35%	 	547,045	 	119.4	 	544,334
	 8
	 	549,325	 	120.5	 	0.42%	 	549,325	 	123.0	 	560,664
	 9
	 	565,280	 	124.0	 	2.90%	 	565,280	 	126.7	 	577,484
	 10
	 	594,808	 	135.0	 	8.87%	 	615,426	 	130.5	 	594,808
	 11
	 	612,653	 	136.0	 	0.74%	 	619,985	 	134.4	 	612,653
	 12
	 	624,543	 	137.0	 	0.74%	 	624,543	 	138.4	 	631,032
	 13
	 	629,102	 	138.0	 	0.73%	 	629,102	 	142.6	 	649,963
	 14
	 	633,661	 	139.0	 	0.72%	 	633,661	 	146.9	 	669,462
	 15
	 	642,778	 	141.0	 	1.44%	 	642,778	 	151.3	 	689,546
	 16
	 	661,013	 	145.0	 	2.84%	 	661,013	 	155.8	 	710,232
	 17
	 	683,807	 	150.0	 	3.45%	 	683,807	 	160.5	 	731,539
	 18
	 	729,394	 	160.0	 	6.67%	 	729,394	 	165.3	 	753,485
	 19
	 	776,090	 	175.0	 	9.38%	 	797,774	 	170.2	 	776,090
	 20
	 	799,373	 	176.0	 	0.57%	 	802,333	 	175.4	 	799,373
	 21
	 	797,774	 	175.0	 	-0.57%	 	797,774	 	180.6	 	823,354
	22	 	829,685	 	182.0	 	4.00%	 	829,685	 	186.0	 	848,055
	 23
	 	857,038	 	188.0	 	3.30%	 	857,038	 	191.6	 	873,496
	 24
	 	888,949	 	195.0	 	3.72%	 	888,949	 	197.4	 	899,701
	 25
	 	911,742	 	200.0	 	2.56%	 	911,742	 	203.3	 	926,692

 APA in Year 1 = $4,194,014 divided by 9.2 

 SCHEDULE 2.5 

CALCULATION OF EARLY TERMINATION AMOUNT 

The Early Termination Amount equals the number of years left in the Term of this Agreement multiplied by the adjusted Annual Payment Amount (the
“APA”) (as calculated pursuant to Section 2.3 and Schedule 2.3 of this Agreement) for the year that the early termination occurs. 

Example of the calculation of the Early Termination Amount: 

If the APA in Year 8 is $560,664 and early termination occurs in Year 8, then the Early Termination Amount equals: 

(25-8) x Annual Payment Amount in Year 8 = 17 x $560,664 = $9,531,288 

ARTESIA RAIL SIDING PPI FORMULA TABLE 
 Early
Termination Example 
  

													
	 Beginning

of Year [x]
	 	 APA

($)
	 	 PPI

Data point
	 	 PPI

change
	 	 APA w/

cumulative
 PPI
change
	 	 PPI

3% max
	 	 APA w/

cumulative
 3%
max

	 1
	 	455,871	 	100.0	 	n/a	 		 	n/a	 	
	 2
	 	469,547	 	104.0	 	4.00%	 	474,106	 	103.0	 	469,547
	 3
	 	478,665	 	105.0	 	0.96%	 	478,665	 	106.1	 	483,634
	 4
	 	494,620	 	108.5	 	3.33%	 	494,620	 	109.3	 	498,143
	 5
	 	513,087	 	113.0	 	4.15%	 	515,134	 	112.6	 	513,087
	 6
	 	524,252	 	115.0	 	1.77%	 	524,252	 	115.9	 	528,480
	 7
	 	544,334	 	120.0	 	4.35%	 	547,045	 	119.4	 	544,334
	 8
	 	549,325	 	120.5	 	0.42%	 	549,325	 	123.0	 	560,664
	 9
	 	565,280	 	124.0	 	2.90%	 	565,280	 	126.7	 	577,484
	 10
	 	3,255,450

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