Document:

AVT-2012.06.30-10K-Exh10.12

Exhibit 10.12

Avnet Restoration Plan

Effective as of January 1, 2012

TABLE OF CONTENTS

	
		
	Article 1. Introduction
	1

	1.01 About the Plan
	1

	1.02 Effective Date
	1

	Article 2. Definitions
	2

	2.01 Definitions
	2

	2.02 Rules of Construction
	4

	Article 3. Eligibility, Participation, and Vesting
	6

	3.01 Eligibility and Participation
	6

	3.02 Vesting
	6

	Article 4. Amount and Payment of Benefits
	7

	4.01 Amount of Benefits
	7

	4.02 Form and Time of Payment
	7

	4.03 Rehired Employees
	8

	4.04 Death Benefits
	8

	Article 5. Plan Administration
	9

	5.01 Plan Administrator
	9

	5.02 Authority, Powers, and Responsibilities of Plan Committee
	9

	5.03 Claims, Appeals, and Litigation
	9

	Article 6. Payment Rules
	12

	6.01 Funding and Obligation to Pay
	12

	6.02 No Assignment or Alienation
	12

	6.03 Withholding
	12

	6.04 Payment Satisfies Claims
	12

	6.05 Payment to Minors and Incompetents
	13

	6.06 Doubt as to Identity or Whereabouts
	13

	6.07 Discretion to Accelerate Payment
	13

	6.08 Overpayments
	13

	Article 7. Amendment and Termination
	14

	7.01 Amendment and Termination
	14

	7.02 Vesting and Payment Upon Termination
	14

	Article 8. Miscellaneous
	15

	8.01 Plan Not a Contract of Employment
	15

	8.02 Governing Law
	15

	8.03 Section 409A of the Internal Revenue Code
	15

	8.04 Severability
	15

	8.05 Successors
	15

	8.06 Complete Statement of Plan

	15

	
			
	Avnet Restoration Plan
	 
	Table of Contents

	January 1, 2012
	 
	 Page i 

Article 1
Introduction
    
About the Plan
		
	(a)
	Avnet, Inc., a New York corporation, wishes to establish the Avnet Restoration Plan effective January 1, 2012, to restore certain retirement benefits that cannot be provided under the Avnet Pension Plan, by reason of the limits required by Sections 401(a)(17) and 415 of the Code.

		
	(b)
	The Plan is unfunded and is maintained primarily for the purpose of providing deferred compensation for a select group of management and highly compensated employees of the Company.  The Plan shall not be subject to the participation and vesting, funding, or fiduciary requirements (Parts 2, 3, and 4 of Title I) of ERISA.

		
	(c)
	Benefits due under the Plan shall be payable from the general assets of the Company or, in the sole discretion of the Plan Committee, from the assets of the Employer or a Trust.  All benefits under the Plan are subject to the claims of the Company's general creditors in the event of the Company's bankruptcy or insolvency.    

    

Effective Date
Except as otherwise expressly provided, the Plan is effective as of January 1, 2012.

	
		
	Avnet Restoration Plan
	 

	January 1, 2012
	Page 1

Article 2
Definitions

Definitions
For purposes of the Plan, unless the context clearly or necessarily indicates the contrary, the following words and phrases shall have the meaning set forth in the definitions below.  Capitalized terms that are not defined herein shall have the same meaning as under the Avnet Pension Plan.
		
	(a)
	“Affiliate” means the Company and any other entity that is, or would be, aggregated and treated as a single employer with the Company under Section 414(b) or (c) of the Code; provided, however, that an ownership threshold of at least 50% shall be used hereunder instead of the 80% minimum ownership threshold that would otherwise apply under such sections of the Code.

		
	(b)
	“Avnet Pension Plan” means the Avnet Pension Plan, as in effect and amended from time to time.

		
	(c)
	“Beneficiary” means the Participant's beneficiary under the Avnet Pension Plan. 

		
	(d)
	“Board” means the Board of Directors of the Company.

		
	(e)
	“Cause” means, for a Participant, the Participant's gross misconduct; breach of any material term of any employment agreement with the Company or an Affiliate; material violation of the Company's or an Affiliate's code of conduct; willful breach, habitual neglect or wanton disregard of his duties; or conviction of any criminal act.

		
	(f)
	“Change of Control” means the occurrence of any of the following events, provided that such event constitutes a change in ownership or control under Section 409A of the Code: 

		
	(1)
	The acquisition by any individual, entity or group (within the meaning of Treas. Reg. § 1.409A-3(i)(5)(v)(B)) of stock of the Company that, together with all other stock held by such individual, entity or group, constitutes more than 50% of either: (A) the then-outstanding shares of common stock of the Company or (B) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally on the election of members of the Board; provided, however, that the following transactions shall not constitute a Change of Control under this paragraph (1): (x) any acquisition directly from the Company (excluding an acquisition by virtue of the exercise of a conversion privilege), (y) any acquisition by the Company, and (z) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or an Affiliate;

		
	(2)
	The individuals who constitute the Board are replaced during any 12-month period by new Board members whose appointment or nomination was not endorsed by a majority of the individuals who were members of the Board immediately before such 12-month period; or

		
	(3)
	The sale or other disposition of substantially all of the assets of the Company.

		
	(g)
	“Code” means the Internal Revenue Code of 1986, as amended.

		
	(h)
	“Company” means Avnet, Inc., a New York corporation, and any successor thereto.

		
	(i)
	“Eligible Employee” means an individual who (1) is an “eligible employee” under the Avnet 

	
		
	Avnet Restoration Plan
	 

	January 1, 2012
	Page 2

Pension Plan and (2) is part of a select group of management and highly compensated employees who are designated by the Plan Committee as eligible to accrue benefits under the Plan.  
		
	(j)
	“Employer” means the Company and any Affiliate that has adopted this Plan with the consent of the Board.

		
	(k)
	“ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

		
	(l)
	“Interest Credit” means the interest credited to a Participant's Restoration Account for a Plan Year, as described in Section 4.01(b).

		
	(m)
	“Interest Crediting Rate” means, for any Plan Year, the annual interest crediting percentage for such Plan Year for Post-2010 Balances under the Avnet Pension Plan.  (As of January 1, 2012, the Interest Crediting Rate is 4% per year.)

		
	(n)
	“Participant” means an individual who has commenced, and not ceased, participation in the Plan in accordance with Section 3.01.

		
	(o)
	“Payment Date” means, for a Participant, the date as of which the Participant's benefit under the Plan is scheduled to be paid, as prescribed by Section 4.02.  For a Participant who is also a participant in the SERP, the Payment Date shall be the “payment calculation date” determined under the SERP. 

		
	(p)
	“Plan” means this Avnet Restoration Plan, as set forth herein and amended from time to time.

		
	(q)
	“Plan Committee” means the committee responsible for administering the Plan, as described in Section 5.01.

		
	(r)
	“Plan Year” means the plan year under the Avnet Pension Plan.

		
	(s)
	“Qualified Plan Limits” means the limits on benefits that may accrue or be paid under a tax-qualified defined benefit plan pursuant to Section 401(a)(17) of the Code and Section 415 of the Code.

		
	(t)
	“Restoration Account” means, for each Participant, the book-entry account described in Section 4.01.  The establishment of a Restoration Account shall not result in assets being set aside for the benefit of any individual.  Immediately after the Participant's Payment Date, the balance of his Restoration Account shall be zero.

		
	(u)
	“Restoration Contribution Credit” means the amount contributed to a Participant's Restoration Account each Plan Year as described in Section 4.01(a).

		
	(v)
	“Separation from Service” means the date of an individual's “separation from service” (within the meaning of Section 409A(a)(2)(A)(i) of the Code) with the Employer and its Affiliates, as determined by the Company in accordance with Treas. Reg. § 1.409A-1(h)(1).  For purposes of the Plan:

		
	(1)
	An individual who is on a leave of absence (with the expectation that he will return) and does not have a statutory or contractual right to reemployment shall be deemed to have had 

	
		
	Avnet Restoration Plan
	 

	January 1, 2012
	Page 3

a Separation from Service on the first date that is more than six months after the commencement of such leave of absence.  However, if the leave of absence is due to any medically determinable physical or mental impairment that can be expected to last for a continuous period of six months or more, and such impairment causes the individual to be unable to perform the duties of his position of employment or any substantially similar position of employment, the preceding sentence shall be deemed to refer to a 29-month period rather than to a six-month period; and
		
	(2)
	A sale of assets to an unrelated buyer that results in an individual working for the buyer or one of its affiliates shall not, by itself, constitute a Separation from Service for such individual unless the Company, with the buyer's written consent, so provides in writing 60 or fewer days before the closing of such sale.

		
	(w)
	“SERP” means the Avnet Supplemental Executive Officers' Retirement Plan, as in effect and amended from time to time.

		
	(x)
	“Trust” means a grantor trust established pursuant to a trust agreement or other written instrument that (a) states that the assets of such trust are subject to claims of creditors of the Company in the event of its bankruptcy or insolvency, (b) states that such trust shall be irrevocable until all claims for benefits under the plans, programs, agreements, and other arrangements covered by such trust have been satisfied, and (c) complies with the applicable provisions of Section 409A of the Code. 

Rules of Construction
		
	(a)
	Gender and Number.  Words used in the masculine gender shall be deemed to refer to females as well as males.  Unless otherwise expressly provided, words used in the singu-lar form shall include the plural form, where appropriate, and vice versa.

		
	(b)
	Include.  The words “include” and “including” shall mean including, but not limited to.

		
	(c)
	Statutes and Regulations.  Each reference to a statute or regulation or to a statutory or regulatory provision shall refer to that provision (or to a successor provision of similar import) as currently in effect, as amended, or as reenacted, and to any regulations and other formal guidance of general applicability issued thereunder.

		
	(d)
	Laws.  Each reference to a law shall include any statute, regulation, rule, court case, or other requirement established by an exchange or a governmental authority or agency, and applicable law shall include any tax law that imposes requirements in order to avoid adverse tax consequences.

		
	(e)
	Headings.  Headings at the beginning of articles and sections hereof are for convenience of reference, shall not be considered a part of the text of the Plan, and shall not influence its construction.

		
	(f)
	Context.  The provisions of the Plan shall be construed as a whole in such manner as to carry out the provisions and purpose thereof, and shall not be construed separately without relation to the context.

		
	(g)
	Timing of Payments.  

	
		
	Avnet Restoration Plan
	 

	January 1, 2012
	Page 4

		
	(1)
	The phrase “as soon as practicable after” or any similar phrase shall mean the earliest administratively practicable date after the relevant date or event; provided that, in accordance with Treas. Reg. § 1.409A-3(b), such date shall be no later than the later of (i) the last day of the calendar year in which the relevant date or event occurs or (ii) the 90th day following the occurrence of the relevant date or event.

		
	(2)
	To the extent that any payment under the Plan may be made within a specified number of days, or as soon as practicable, on or after any date or the occurrence of any date or event, the date of payment shall be determined by the Company or the Plan Committee in its sole discretion, and not by any Participant, Beneficiary, or other individual.

	
		
	Avnet Restoration Plan
	 

	January 1, 2012
	Page 5

Article 3
Eligibility, Participation, and Vesting
    

Eligibility and Participation
		
	(a)
	Eligibility to participate in the Plan shall be limited to a select group of management and highly compensated employees of the Company who are identified and classified by the Plan Committee as Eligible Employees.

		
	(b)
	An individual who is designated as an Eligible Employee shall enter the Plan as of the date determined by the Plan Committee; provided that such date shall be no earlier than the later of (1) January 1, 2012, or (2) the Participant's most-recent entry date under the Avnet Pension Plan.  The entry date for each Participant shall be as reflected in the Plan's records, unless the Plan Committee or the Board determines that such records reflect an administrative error.

		
	(c)
	If a Participant is entitled to benefits under both this Plan and the SERP, his benefit under the SERP (whether a retirement benefit, disability benefit, or death benefit) shall be offset by his benefit under this Plan.  Such offset shall be determined in accordance with the terms of the SERP.

		
	(d)
	An individual who becomes a Participant shall continue to be a Participant until all benefits payable under the Plan to him and his Beneficiaries have been paid in full.  If a Participant's Separation from Service occurs before his benefit under the Plan has become vested, he shall cease to be a Participant upon such Separation from Service.

Vesting
		
	(a)
	No benefit shall be payable under the Plan unless it has become vested under this Section 3.02 or Section 7.02 (relating to termination of the Plan).  

		
	(b)
	Except as provided in subsection (c), below, or Section 7.02 (relating to termination of the Plan), a Participant shall be vested in his benefit under the Plan only if his Retirement Income under the Avnet Pension Plan is vested.  If the Participant is not vested at the time of his Separation from Service, his Restoration Account shall be forfeited.

		
	(c)
	If a Participant's employment with the Company and Affiliates is terminated involuntarily and without Cause within two years after a Change of Control, his benefit under the Plan shall be vested.

	
		
	Avnet Restoration Plan
	 

	January 1, 2012
	Page 6

Article 4
Amount and Payment of Benefits
    

Amount of Benefits
A Participant's benefit under the Plan is expressed as the balance of his Restoration Account.  Such balance shall equal the sum of the Participant's accumulated Restoration Contribution Credits and Interest Credits, as described in this Section 4.01.
		
	(a)
	Restoration Contribution Credits.  A Restoration Contribution Credit shall be added to each Eligible Employee's Restoration Account for each Plan Year in which the Eligible Employee is both an Eligible Employee and a Participant in the Plan.  Such Restoration Contribution Credit shall be added as of the same time as the Contribution Credit for such Plan Year is added to the Eligible Employee's Cash Balance Account under the Avnet Pension Plan, and shall be equal to the excess, if any, of--

		
	(1)
	The Contribution Credit that would be added to the Eligible Employee's Cash Balance Account under the Avnet Pension Plan for such Plan Year if not for the Qualified Plan Limits, less

		
	(2)
	The actual Contribution Credit added to the Eligible Employee's Cash Balance Account under the Avnet Pension Plan for such Plan Year.

		
	(b)
	Interest Credits.

		
	(1)
	For each Plan Year that ends before a Participant's Payment Date, an Interest Credit shall be added to his Restoration Account as of the last day of such Plan Year.  Such Interest Credit shall be equal to the Interest Crediting Rate for such Plan Year times the balance of the Participant's Restoration Account as of the first day of such Plan Year.

		
	(2)
	For the Plan Year in which the Participant's Payment Date occurs, an Interest Credit shall be added to his Restoration Account immediately before his Payment Date.  Such Interest Credit shall be equal to the amount described in paragraph (1), above, multiplied by a fraction, the numerator of which is the number of full calendar months elapsed during such Plan Year before the Participant's Payment Date and the denominator of which is 12.

Form and Time of Payment
A Participant's vested benefit under the Plan (if any) shall be paid as follows:
		
	(a)
	Except as required by subsection (b), below (relating to participants in the SERP), such Participant's vested benefit shall be paid in a lump sum on the later of--

		
	(1)
	The first business day of the seventh calendar month that begins after the Participant's Separation from Service, or 

		
	(2)
	The first business day of the first calendar month that starts after the Participant's 55th birthday.

	
		
	Avnet Restoration Plan
	 

	January 1, 2012
	Page 7

		
	(b)
	If the Participant is also a participant in the SERP, his vested benefit under the Plan shall be paid at the time and in the form prescribed by the SERP.  Except as otherwise provided by the SERP in the case of disability (and subject to Section 4.04 (Death Benefits)), such vested benefit shall be paid as follows:

		
	(1)
	The balance of the Participant's Restoration Account shall be converted to an actuarially equivalent series of 120 equal monthly installments, payable over 10 years, commencing as of the Participant's “payment calculation date” under the SERP.  The amount of such monthly installments shall be calculated using the “present value interest factor” prescribed by the SERP as of the “payment calculation date” under the SERP.

		
	(2)
	The Participant shall receive 24 monthly payments, each equal to the monthly amount calculated under paragraph (1), above, commencing at the time prescribed by the SERP.  The six-month delay rule required by Section 409A of the Code shall be administered in the same manner as prescribed by the SERP: each monthly installment that is required to be delayed shall be paid at the time prescribed by the SERP, with interest to the extent prescribed by the SERP.

		
	(3)
	On the date prescribed by the SERP, the present value of the remaining 96 payments shall be paid in a lump sum.  Such present value shall be calculated in the manner prescribed by the SERP, using the same interest factor as is used for the calculation described in paragraph (1), above.  (To the extent that the SERP requires payment in the form of 120 monthly installments, the benefit under this Plan shall also be paid in 120 monthly installments, and each installment shall be equal to the amount required by paragraph (1), above.)

Rehired Employees
The time of payment of benefits to any Participant who has had a Separation from Service shall not be affected in any way by a subsequent rehire by the Company.  For example, if a Participant has a bona fide Separation from Service and is subsequently rehired, the vested benefit (if any) that accrued before such rehire shall be paid at the time and in the form prescribed by Section 4.02, above, without regard to the Participant's rehire.

Death Benefits
		
	(a)
	If a Participant dies before his Payment Date, the only benefit payable under the Plan shall be a lump-sum payment to the Participant's Beneficiary.  Such payment shall be equal to the vested balance, if any, of the Participant's Restoration Account and shall be made within 90 days after the Participant's death. 

		
	(b)
	If a Participant is also a participant in the SERP, and such Participant dies after his Separation from Service and before the last payment required by Section 4.02(b) is made, the payments required by Section 4.02(b) (or, if such payments have already started, any remaining payments) shall be paid to his Beneficiary at the time and in the form prescribed by the SERP.

	
			
	Avnet Restoration Plan
	 
	Table of Contents

	January 1, 2012
	 
	 Page 8 

Article 5
Plan Administration
    

Plan Administrator
The Plan shall be administered by the Plan Committee, which shall be the Committee that is responsible for administering the Avnet Pension Plan (as prescribed by the Avnet Pension Plan) or its designee.  

Authority, Powers, and Responsibilities of Plan Committee
		
	(a)
	The Plan Committee shall have the same authority, powers, and responsibilities with respect to the Plan as the Committee responsible for administering the Avnet Pension Plan has with respect to the Avnet Pension Plan; provided, however, that obligations imposed by Parts 2, 3, and 4 of Title I of ERISA (including ERISA's fiduciary responsibilities) shall not apply with respect to the Plan.  For the avoidance of doubt, such authority, powers, and responsibility include the power to construe and interpret the terms and provisions of the Plan and to remedy or correct any ambiguities, omissions, or inconsistencies contained therein.  Any interpretation of the Plan and any decision on any matter within the discretion of the Plan Committee that is made by the Plan Committee in good faith shall be binding on all persons.

		
	(b)
	Any question with regard to the Plan Committee's authority, power, or responsibilities shall be resolved in a manner consistent with the provisions of the Avnet Pension Plan that set forth the authority and responsibilities of the Committee responsible for administering the Avnet Pension Plan (subject to this Plan's exemption from the requirements of Parts 2, 3, and 4 of Title I of ERISA).  Such provisions are incorporated into the Plan by reference.

		
	(c)
	The Company and Affiliates shall indemnify the Plan Committee against any and all liabilities, settlements, judgments, losses, costs, and expenses (including reasonable legal fees and expenses) of whatever kind and nature that may be imposed on, incurred by, or asserted against the Plan Committee by reason of the performance or nonperformance of the Plan administration function if such action or inaction did not constitute gross negligence or willful misconduct.  The foregoing right of indemnification shall be in addition to other rights of the Plan Committee by law or by reason of insurance coverage of any kind, but shall not provide for duplication.  The Company may, at its own expense, settle any claim asserted or proceeding brought against the Plan Committee or any of its members when the Company determines that settlement appears to be in the best interests of the Company.

Claims, Appeals, and Litigation
		
	(a)
	Claims and Appeals Procedures.

Claims and appeals related to participation or benefits under the Plan shall be filed and resolved in accordance with the procedures that apply for claims and appeals under the Avnet Pension Plan.  Such procedures are referred to herein collectively as the “claims procedure.”
		
	(b)
	Litigation.

		
	(1)
	No Applicable Claim (as defined in subsection (2), below) may be filed in any court or in 

	
		
	Avnet Restoration Plan
	 

	January 1, 2012
	Page 9

any other forum until the claimant has exhausted the claims procedure referenced in Section 5.03(a).  Any Applicable Claim shall be filed in a court described in subsection (3), below, within the Applicable Limitations Period prescribed by subsections (4) and (5), below.  No Applicable Claim may be filed after such Applicable Limitations Period.
		
	(2)
	An “Applicable Claim” is:

		
	(A)
	A claim or action to recover benefits allegedly due under the provisions of the Plan or by reason of any law;

		
	(B)
	A claim or action to clarify rights to future benefits under the terms of the Plan;

		
	(C)
	A claim or action to enforce rights under the Plan; or

		
	(D)
	Any other claim or action brought by a person who is, seeks to be, or is a successor to a current or former (I) employee (within the meaning of Section 3(6) of ERISA) of an Employer or an Affiliate, (II) participant (within the meaning of Section 3(7) of ERISA), or (III) beneficiary (within the meaning of Section 3(8) of ERISA) that-

		
	(i)
	Relates to the Plan; and

		
	(ii)
	Seeks a remedy, ruling, or judgment of any kind against an Employer, the Plan Committee, the Plan, the trustee, or any other individual or entity involved with administering or providing services to the Plan.

		
	(3)
	A court described in this subsection (3) shall be one of the following courts:

		
	(A)
	The United States District Court for the district in which the Plan is principally administered;

		
	(B)
	In the case of an action brought by an individual plaintiff, the United States District Court for the district in which such plaintiff resides; or

		
	(C)
	In the case of an action brought by more than one plaintiff, the United States District Court for the district in which the largest number of plaintiffs (or in the case of a putative class action, the United States District Court for the district in which the largest number of putative class members) resides or is reasonably believed to reside. 

If any Applicable Claim is filed in a court other than a court described in this subsection (3), the Plan, any Plan affiliates, and all alleged Plan Participants and Beneficiaries shall take all necessary steps to have the action removed to, transferred to, or refiled in a court described in this subsection (3).
		
	(4)
	The “Applicable Limitations Period” for any Applicable Claim shall begin on the following date (the “Limitations Start Date”):

		
	(A)
	In the case of an Applicable Claim to recover benefits allegedly due to the claimant from the Plan or to clarify the claimant's rights to future benefits from the Plan, the 

	
			
	Avnet Restoration Plan
	 
	Table of Contents

	January 1, 2012
	 
	 Page 10 

earliest of (i) the date the first benefit payment was actually made, (ii) the date the first benefit payment was allegedly due, or (iii) the date an Employer, the Plan Committee, or the Plan first repudiated the alleged obligation to provide such benefits.  A repudiation described in clause (iii) may be made in the form of a direct communication to the Participant or claimant (e.g., denial of a claim under the administrative review referenced in Section 5.03(a)) or a more general oral or written communication related to benefits payable under the Plan (for example, summary of the Plan or provisions thereof, a benefit statement, or an agreement or offer letter); or
		
	(B)
	In the case of any other Applicable Claim, the earliest date on which the claimant knew or should have known of the material facts on which such claim or action is based, regardless of whether the claimant was aware of the legal theory underlying the Applicable Claim.

		
	(5)
	The Applicable Limitations Period for any Applicable Claim shall end on the second anniversary of the Limitations Start Date for such Applicable Claim; provided, however, that-

		
	(A)
	If a request for administrative review pursuant to Section 5.03(a) is pending when the Applicable Limitations Period expires, the deadline for filing such Applicable Claim shall be extended to the date that is 60 calendar days after the final denial (including a deemed denial) of such claim on administrative review; and

		
	(B)
	If paragraph (4)(B), above, applies, the Applicable Limitations Period shall end no later than six years after (i) the date of the last action on which such claim or action is based or (ii) in the case of an omission, the latest date on which such omission could have been cured, without regard to whether the claimant knew or should have known the material facts on which the claim or action is based.

		
	(6)
	The Applicable Limitations Period described in this Section 5.03(b) replaces and supersedes any limitations period that otherwise might be deemed applicable under state or federal law in the absence of this Section 5.03(b).  A claim or action filed after the expiration of the Applicable Limitations Period shall be deemed time-barred; provided, however, that the Plan Committee shall have discretion to extend the Applicable Limitations Period upon a showing of exceptional circumstances that, in the opinion of the Plan Committee, provide good cause for an extension.  The exercise of this discretion is committed solely to the Plan Committee, and is not subject to review.

		
	(7)
	In the event of any Applicable Claim brought by or on behalf of two or more claimants, the requirements of this Section 5.03(b) shall apply separately with respect to each claimant.

	
			
	Avnet Restoration Plan
	 
	Table of Contents

	January 1, 2012
	 
	 Page 11 

Article 6
Payment Rules
    

Funding and Obligation to Pay
		
	(a)
	All benefits under the Plan shall be paid by the Company; provided that the Company may, by action of the Plan Committee, cause benefits to be paid by an Employer or a Trust.  If a Participant also participates in the SERP and the offset required by the SERP for benefits payable under this Plan results in the net benefit payable under the SERP being less than the proceeds of any insurance policy under the SERP that are payable to the Participant or his beneficiary, the excess of such insurance proceeds over the net benefit payable under the SERP shall be applied toward payment of the Participant's benefit (or, if applicable, the death benefit payable on behalf of the Participant) under this Plan.

		
	(b)
	In the event that a Change of Control occurs or is imminent, the Company shall contribute, or cause to be contributed, to a Trust, cash, marketable securities, or insurance policies in an amount equal to the sum of the balances of all Restoration Accounts under the Plan as of the date of the Change of Control (whether or not vested).

No Assignment or Alienation
		
	(a)
	No benefit payable under this Plan shall be voluntarily or involuntarily assigned or alienated; provided, however, that the Company and each Employer may reduce benefits under the Plan to the extent that they determine is necessary or appropriate to recover a debt owed by the Participant or Beneficiary to the Company or an Affiliate, or to remedy any injury caused by the Participant or Beneficiary to the Company or an Affiliate.  Any offset shall be applied in accordance with the applicable requirements of Section 409A of the Code.

		
	(b)
	A Beneficiary who is entitled to receive a benefit under the Plan may disclaim his right to such benefit by filing a disclaimer that satisfies the requirements to be a “qualified disclaimer” under Section 2518 of the Code no later than nine months after the death of the Participant.  If the Plan Committee receives a qualified disclaimer (as defined in Section 2518 of the Code) from any Beneficiary, the Participant's Beneficiary under the Plan shall be determined as if the disclaiming Beneficiary had predeceased the Participant. 

Withholding
All amounts payable under this Plan are subject to withholding for all federal, state, and local taxes, and all other amounts relating to tax or other payroll deductions, as the Company may reasonably determine should be withheld.  Regardless of the amount withheld, the Participant shall be solely responsible for paying all required taxes (other than the employer's share of employment taxes) on all payments and other compensation (including imputed compensation) and benefits provided under this Plan.

Payment Satisfies Claims
Any payment to a Participant or the Participant's Beneficiary in accordance with the provisions of the Plan 

	
		
	Avnet Restoration Plan
	 

	January 1, 2012
	Page 12

shall be, to the extent thereof, in full satisfaction of all claims against the Plan Committee and the Company (including claims unrelated to this Plan).  As a condition precedent to any payment, the Plan Committee may require the recipient to execute a receipt and release to such effect.

Payment to Minors and Incompetents
If any person is a minor or unable to care for his affairs because of illness or accident, unless a duly qualified guardian or other legal repre-sentative has been appointed, any pay-ment due under the Plan to that person may be paid, for the bene-fit of such person, to his spouse, parent, brother, sister, or other person deemed by the Plan Committee to have incurred expenses for such pers-on.  Such payment, to the extent thereof, shall discharge all liability for such payment under the Plan.

Doubt as to Identity or Whereabouts
		
	(a)
	If, after reasonable efforts, the Plan Committee is unable to determine the whereabouts of any person entitled to payment hereunder, the required payment to such person shall be deemed made at the Payment Date, and the Plan Committee shall take (or cause to be taken) all steps that it determines to be reasonably appropriate to avoid a violation of Section 409A of the Code (e.g., withholding income taxes at the time of each deemed payment, and depositing the amount withheld with the Internal Revenue Service).  For purposes of the preceding sentence, notice by registered mail sent to such person's most recent address (as reflected in the Plan records) shall be deemed to constitute reasonable efforts to locate such person.  Subject to the requirements of Section 409A of the Code, if such person subsequently makes a proper claim to the Company for such sum, the Company may in its discretion pay to such person the net amount (after withholding) of the deemed payment described in this Section 6.06.

		
	(b)
	If a payment is made to a Participant or Beneficiary as provided under the Plan, the payment is not returned as being undeliverable, and the check on which the payment is made is not presented for payment before the check expires, then the amount of the check may be forfeited.  However, if such Participant or Beneficiary subsequently makes a proper claim for the amount of the uncashed benefit check, the Company may in its discretion issue a replacement check (net of withholding).

Discretion to Accelerate Payment
The Plan Committee shall have discretion to accelerate payments of benefits under the Plan to the extent (and only to the extent) permitted by Treas. Reg. § 1.409A-3(j)(4).

Overpayments
If any overpayment of benefits is made under the Plan, the recipient of the overpayment shall be required to return the overpaid amount plus reasonable interest.  To the extent that the Company is unable to recover the overpayment, any future benefit payments shall be reduced until the overpayment and reasonable interest are recovered; provided that any offset shall be applied in accordance with the applicable requirements of Section 409A of the Code.  The foregoing remedy is not intended to be exclusive.

	
			
	Avnet Restoration Plan
	 
	Table of Contents

	January 1, 2012
	 
	 Page 13 

Article 7
Amendment and Termination
    

Amendment and Termination
		
	(a)
	The Company may amend, modify, suspend, or terminate the Plan in whole or in part by resolution of the Board.  Any such resolution may designate authority to the Plan Committee or an officer of the Company to adopt amendments that are consistent with the Board's resolution.  Except to the extent required by law or to effectuate the intent that this Plan not provide benefits other than as required to restore amounts that cannot accrue under the Avnet Pension Plan by reason of the Qualified Plan Limits, no amendment, modification, suspension, or termination shall have any retroactive effect to reduce the balance of a Participant's Restoration Account.  

		
	(b)
	The Plan Committee is authorized to adopt any amendment that it determines is necessary or appropriate to comply with an applicable law or to improve administration of the Plan; provided that no such amendment shall cause a material increase in the Company's cost of providing benefits under the Plan.  

Vesting and Payment Upon Termination
If the Plan is terminated, the Plan benefit of each Participant who is employed by the Company or an Affiliate on the termination date shall be fully vested.  The Plan Committee shall have discretion to liquidate all remaining benefits in accordance with the applicable provisions of Treas. Reg. § 1.409A-3(j)(4)(ix).

	
		
	Avnet Restoration Plan
	 

	January 1, 2012
	Page 14

Article 8
Miscellaneous
    

Plan Not a Contract of Employment
The Plan does not constitute a contract of employment and participation in the Plan does not give any Participant the right to be retained in the employ of, or in a particular position with, an Employer or Affiliate or a right or claim to any benefit under the Plan, except to the extent such right or claim has accrued and is nonforfeitable under the terms of the Plan.

Governing Law
This Plan shall be construed, governed, and administered in accordance with the laws of the State of Arizona, without regard to its conflict of law provisions and except to the extent that its laws are preempted by the laws of the United States of America.
    
Section 409A of the Internal Revenue Code
		
	(a)
	Intent to Comply With Section 409A. This Plan shall be construed and interpreted consistent with the intent to comply with the requirements of Section 409A of the Code such that there are no adverse tax consequences, interest, or penalties as a result of any amount paid or payable under this Plan.  Any ambiguity or inconsistency in the provisions of this Plan shall be resolved consistent with such intent.

		
	(b)
	No Liability.  The Company makes no representation or warranty regarding the Plan's compliance with the requirements of Section 409A of the Code, either in form or in operation.  None of the Company, its Affiliates, or any of its representatives, agents, or advisers shall be responsible for any tax imposed on any individual under Section 409A of the Code or any other tax law in connection with benefits accrued or payable under the Plan.

Severability
If any provision of this Plan is held to be invalid or unenforceable by a court of competent jurisdiction, such holding shall not impact the validity or enforceability of the remaining provisions of the Plan; provided, however, that if the Plan's status as an unfunded plan maintained for a select group of management or highly compensated employees is invalidated, the entire Plan shall be invalidated.

Successors
The terms and conditions of the Plan and any Trust shall be binding on the Employers and their successors and assigns.

Complete Statement of Plan
This instrument contains a document is a complete statement of the terms of the Plan and may be modified, suspended, revoked, or terminated only as provided in Article 7.  An individual's right to any benefit under the Plan shall be determined in accordance with the terms of this instrument, as amended (and not any other document, arrangement, or understanding); provided, however, that this instrument 

	
		
	Avnet Restoration Plan
	 

	January 1, 2012
	Page 15

shall be applied and interpreted without regard to any scrivener's error (as described in the next following sentence) in this instrument or any other document of the Plan.  The determination of whether a scrivener's error has occurred shall be made by the General Counsel of the Company in the exercise of his best judgment and sole discretion, based on his understanding of the intent of the Company as the settlor of the Plan, and taking into account such evidence, written or oral, as he deems appropriate or helpful.  The General Counsel of the Company is authorized to correct any scrivener's error that he discovers in this instrument or in any other document of the Plan.  No person other than the Board, the Plan Committee, or a person to whom the Plan Committee has delegated interpretive authority shall have any authority to interpret this instrument or any other document of the Plan.

	
		
	Avnet Restoration Plan
	 

	January 1, 2012
	Page 16Exhibit 10.1 Amendment No. 2 Credit Agreement

Exhibit 10.1

EXECUTION COPY

AMENDMENT NO. 2
TO

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

This AMENDMENT NO. 2 to FIFTH AMENDED AND RESTATED CREDIT AGREEMENT (the “Amendment”), dated as of August 7, 2012, is entered into by and among Tesoro Corporation (the “Borrower”), the financial institutions listed on the signature pages hereof (the “Lenders”), and JPMorgan Chase Bank, National Association, as Administrative Agent (the “Agent”), under the below-defined Credit Agreement.  Each capitalized term used herein and not otherwise defined herein shall have the meaning given to it in the below-defined Credit Agreement.
WITNESSETH
WHEREAS, the Borrower, the Lenders, and the Agent are parties to a Fifth Amended and Restated Credit Agreement dated as of March 16, 2011 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); 
WHEREAS, the Borrower wishes to amend the Credit Agreement in certain respects and the Lenders party hereto and the Agent are willing to amend the Credit Agreement on the terms and conditions set forth herein; and
NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Agent and the Lenders party hereto hereby agree as follows:
1.    Amendments to Credit Agreement.  Effective as of the date first above written, and subject to the satisfaction of the conditions to effectiveness set forth in Section 3(a) below, the Credit Agreement is hereby amended as follows: 
(a)    Section 1.1 of the Credit Agreement is amended as follows:
(i) the definitions of “Excluded Subsidiary”, “Rate Management Transaction” and “Subsidiary Guarantors” set forth therein are amended and restated in their entirety as follows: 
“ “Excluded Subsidiary” means each of Interior Fuels Company, Tesoro Petroleum (Singapore) Pte. Ltd., Tesoro Canada Supply & Distribution Ltd., RW Land Company (f/k/a Philosopher's Stone Land Company), Redland Vision, LLC (f/k/a Philosopher's Stone Land Partners, L.P.), RidgeWood Association, the MLP, the Drop Down Subsidiaries, Tesoro Logistics GP, LLC and Tesoro Logistics Operations LLC, the Pipeline Subsidiaries, and such other Subsidiaries that the Borrower, with the Agent's prior written consent, may identify to the Agent and the Lenders from time to time; provided, however, that as of the Tesoro Canada Effective Date, Tesoro Canada Supply & Distribution Ltd. shall no longer be an Excluded Subsidiary hereunder.”

“ “Rate Management Transaction” means any transaction (including an agreement with respect thereto) now existing or hereafter entered by the Borrower or a Subsidiary which is (i) a rate swap, basis swap, credit derivative transaction, forward rate transaction, commodity swap, commodity option, forward contracts, future contracts, equity or equity index swap, equity or equity index option, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate option, foreign exchange transaction, cap transaction, floor transaction, collar transaction, forward transaction, currency swap transaction, cross-currency rate swap transaction, currency option swap option, credit protection transaction, credit swap, credit default swap, credit default option, total return swap, credit spread transaction, repurchase transaction, reverse repurchase transaction, buy/sell back transaction, securities lending transaction, prime brokerage margin or other cash loan, short sale, weather index transaction or forward purchase or sale of a security, commodity or other financial instrument or interest (including any option with respect to any of these transactions) or any combination thereof, whether linked to one or more interest rates, foreign currencies, or equity prices or (ii)  a type of transaction that is similar to any transaction referred to in clause (i) above or any combination thereof that is currently, or in the future becomes, recurrently entered into in the financial markets (including terms and conditions incorporated by reference in such agreement) and which is a forward, swap, future, option or other derivative on one or more rates, currencies, commodities, equity securities or other equity instruments, debt securities or other debt instruments, economic indices or measures of economic risk or value, or other benchmarks against which payments or deliveries are to be made.”
“ “Subsidiary Guarantors” means (i) those Subsidiaries of the Borrower subject to the Guaranty as of the Closing Date, (ii) as of the Tesoro Panama Effective Date, Tesoro Panama, (iii) as of the Tesoro Canada Effective Date, Tesoro Canada, (iv) those other Persons organized under the laws of the United States or a political subdivision thereof that become subject to the Guaranty in accordance with Section 6.23 after the Closing Date and (v) any other Person that is required to enter into or has entered into the Guaranty, in each case together with its permitted successors and assigns (including, without limitation, a debtor in possession on its behalf).”
(ii)    the following definitions are added in their appropriate alphabetical order therein:
“ “Tesoro Canada” means Tesoro Canada Supply & Distribution Ltd.”
“ “Tesoro Canada Effective Date” means the date on which the Agent shall have received from Tesoro Canada: (a) a Guaranty in substantially the form executed on March 16, 2011 or a supplement thereto pursuant to which Tesoro Canada shall become a party thereto, (b) a restated Schedule 5.8 identifying  Tesoro Canada as a Subsidiary Guarantor, (c) all appropriate corporate resolutions and other documentation (including opinions of counsel), as shall be reasonably requested by the Agent,  including any related documents governed by Canadian law), in each case under this clause (c), in form and substance reasonably satisfactory to the Agent, and (d) an acknowledgment by Tesoro Canada that its entry into the Guaranty is a condition to and is given as an inducement for and in consideration of credit accommodations extended to the Borrower under this Agreement and the other Loan Documents and not for any credit accommodation extended to Tesoro Canada.”

2

 “ “Tesoro Panama Effective Date” means the date on which the Agent shall have received from Tesoro Panama: (a) a Guaranty in substantially the form executed on March 16, 2011 or a supplement thereto pursuant to which Tesoro Panama shall become a party thereto, (b) a restated Schedule 5.8 identifying  Tesoro Panama as a Subsidiary Guarantor, (c) all appropriate corporate resolutions and other documentation (including opinions of counsel), as shall be reasonably requested by the Agent,  including any related documents governed by Panama law), in each case under this clause (c), in form and substance reasonably satisfactory to the Agent, and (d) an acknowledgment by Tesoro Panama that its entry into the Guaranty is a condition to and is given as an inducement for and in consideration of credit accommodations extended to the Borrower under this Agreement and the other Loan Documents and not for any credit accommodation extended to Tesoro Panama.”
(iii)    the definition of “Eligible Petroleum Inventory” is amended to amend and restate the final sentence thereof in its entirety as follows:
“Notwithstanding anything to the contrary set forth in this Agreement or any other Loan Document, no Petroleum Inventory (i) located, stored or maintained at any retail service station or in a railroad car, or otherwise in transit upon a railway system, or (ii) owned by Tesoro Canada or Tesoro Panama, shall constitute Eligible Petroleum Inventory.”; and
(iv)    The definition of “Eligible Receivable” is hereby amended by (i) deleting the word “and” at the end of clause (v), (ii) replacing the period at the end of clause (w) with “; and” and (iii) adding a new clause (x) as follows:
“(x)    any Receivable owing to Tesoro Canada or Tesoro Panama.”
(b)    Section 6.4 of the Credit Agreement is hereby amended to delete the phrase “in its jurisdiction of incorporation or organization” set forth therein and to substitute “in each of its jurisdictions of incorporation or organization” therefor.
 (c)    Section 6.14.12 of the Credit Agreement is hereby amended to delete the reference to “Lender” set forth therein and  to substitute “lender” therefor.
(d)    Section 6.17 of the Credit Agreement is hereby amended and restated in its entirety as follows:
 “6.17.    Financial Contracts.  The Borrower will not, nor will it permit any Subsidiary to, enter into or remain liable upon any Rate Management Transactions except for those that  (i) are entered into by the Borrower or such Subsidiary in the ordinary course of business, including for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets, or property held or reasonably anticipated by the Borrower or such Subsidiary, or changes in the value of securities issued by the Borrower or such Subsidiary, and not for purposes of speculation, (ii) are permitted under the risk management policies approved by the Borrower's or such Subsidiary's board of directors from time to time; and (iii) do not contain any provision exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party.”
2.    Tesoro Panama Amendments. Effective as of the Tesoro Panama Effective Date, and subject to the satisfaction of the conditions set forth in Section 3(b) below, the Credit Agreement shall be further amended as follows:

3

(a)    Section 6.13.4(iv) of the Credit Agreement, which governs investments and acquisitions, shall be amended to delete the final sentence thereof.
(b)    Section 6.14.6 of the Credit Agreement shall be amended and restated in its entirety as follows: 
“6.14.6 Unsecured Indebtedness of Tesoro Panama (so long as the lender in respect of such Indebtedness is not an Affiliate of the Borrower or any Subsidiary or Excluded Subsidiary) that does not at any time exceed an aggregate amount equal to $50,000,000.”
3.    Conditions of Effectiveness.  
(a)    Section 1 of this Amendment shall become effective and be deemed effective as of the date hereof, if, and only if:
(i) the Agent shall have received executed copies of (A) this Amendment from the Borrower and the Required Lenders and (B) the Reaffirmation attached hereto from each Subsidiary Guarantor; and
(ii) the Borrower shall have paid all fees and expenses of the Agent (including (A) an amendment fee for the account of each Approving Lender  (as defined below) in an amount equal to .05% of the Revolving Loan Commitment of such Approving Lender and (B) to the extent invoiced, attorneys' fees and expenses) in connection with this Amendment. For purposes of this Section 3(a)(ii), “Approving Lender” shall mean each Lender that delivers an executed signature page to this Amendment to the Agent no later than 5:00 p.m. Chicago time on Monday, August 6, 2012, or by such other time as deemed appropriate by the Agent.
(b)    Section 2 of this Amendment shall become effective and be deemed effective as of the date Tesoro Panama Effective Date.
4.    Representations and Warranties of the Borrower. The Borrower  hereby represents and warrants as follows:
(a)    The Credit Agreement as previously executed and amended and as amended hereby constitute the legal, valid and binding obligation of the Borrower and is enforceable against the Borrower in accordance with its terms, except as enforceability may be limited by (i) bankruptcy, insolvency, fraudulent conveyances, reorganization or similar laws relating to or affecting the enforcement of creditors' rights generally; (ii) general equitable principles (whether considered in a proceeding in equity or at law); and (iii) requirements of reasonableness, good faith and fair dealing.
(b)    (i) The representations and warranties contained in Article V of the Credit Agreement are true and correct as of the date hereof except (x) with respect to Sections 5.5 and 5.7 of the Credit Agreement, the representations and warranties set forth in such Sections shall have been true and correct on and as of the date of the most recent Form 10-K or Form 10-Q filing, as applicable, made by the Borrower with the U.S. Securities and Exchange Commission, and (y) with respect to any other representation and warranty set forth in Article V of the Credit Agreement, to the extent such representation or warranty is stated to relate solely to an earlier date, such representation or warranty shall have been true and correct on and as of such earlier date and (ii) no event shall have occurred and then be continuing which constitutes a Default or an Unmatured Default.

4

(c)    The modifications contemplated by this Amendment are permitted under the terms of indentures and other agreements referenced in Section 9.17 of the Credit Agreement that remain in effect as of the date hereof.
5.    Effect on the Credit Agreement.
(a)    Upon the effectiveness of this Amendment, on and after the date hereof, each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean and be a reference to the Credit Agreement as amended and modified hereby.
(b)    Except as specifically amended and modified above, the Credit Agreement and all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect, and are hereby ratified and confirmed.
(c)    The execution, delivery and effectiveness of this Amendment shall neither, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Lenders or the Agent, nor constitute a waiver of any provision of the Credit Agreement or any other documents, instruments and agreements executed and/or delivered in connection therewith.
(d)     For the avoidance of doubt, the parties hereto acknowledge and agree that this Amendment constitutes a Loan Document as defined under the Credit Agreement.
6.    Costs and Expenses.  The Borrower agrees to pay all reasonable costs, fees and out‐of‐pocket expenses (including attorneys' fees and expenses charged to the Agent) incurred by the Agent and the Lenders in connection with the preparation, arrangement, execution and enforcement of this Amendment.
7.    Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW BUT OTHERWISE WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS) OF THE STATE OF NEW YORK, BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS.  IF ANY COURT, TRIBUNAL OR OTHER ENTITY WITH JURISDICTION OVER THIS AMENDMENT AND THE TRANSACTIONS EVIDENCED HEREBY REJECTS THE FOREGOING CHOICE OF NEW YORK LAW, THEN THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (INCLUDING 735 ILCS SECTION 105/5-1 ET SEQ. BUT OTHERWISE WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS) OF THE STATE OF ILLINOIS, BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS.
8.    Headings.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.
9.    Counterparts.  This Amendment may be executed by one or more of the parties to the Amendment on any number of separate counterparts and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile shall be effective as delivery of a manually executed counterpart of this Amendment.

5

10.    No Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Amendment.  In the event an ambiguity or question of intent or interpretation arises, this Amendment shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Amendment.
The remainder of this page is intentionally blank.

6

IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written.

	
		
	 
	TESORO CORPORATION,

	 
	as the Borrower

	
				
	 
	By:  
	/s/ TRACY D. JACKSON

	 
	Name:
	Tracy D. Jackson

	 
	Title:
	Vice President and Treasurer

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	JPMORGAN CHASE BANK, NATIONAL 

	 
	ASSOCIATION, as a Lender and as Administrative

	 
	Agent

	
				
	 
	By:  
	/s/ J. DEVIN MOCK

	 
	Name:
	J. Devin Mock

	 
	Title:
	Authorized Officer

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	WELLS FARGO CAPITAL FINANCE, LLC,

	 
	as a Lender

	
				
	 
	By:  
	/s/ PETER AZIZ

	 
	Name:
	Peter Aziz

	 
	Title:
	Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	WELLS FARGO BANK, NA,

	 
	as a Lender

	
				
	 
	By:  
	/s/ PETER AZIZ

	 
	Name:
	Peter Aziz

	 
	Title:
	Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	THE ROYAL BANK OF SCOTLAND PLC,

	 
	as a Lender

	
				
	 
	By:  
	/s/ TODD VAUBEL

	 
	Name:
	Todd Vaubel

	 
	Title:
	Authorised Signatory

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	BANK OF AMERICA, N.A.,

	 
	as a Lender

	
				
	

	By:  
	/s/ JAMES B. ALLIN

	

	Name:
	James B. Allin

	

	Title:
	Senior Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	CITIBANK, N.A.,

	 
	as a Lender

	
				
	

	By:
	/s/ K. KELLY GUNNESS

	

	Name:
	K. Kelly Gunness

	

	Title:
	Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	MIZUHO CORPORATE BANK, LTD.,

	 
	as a Lender

	
				
	 
	By:  
	/s/ LEON MO

	 
	Name:
	Leon Mo

	 
	Title:
	Authorized Signatory

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	NATIXIS,

	 
	as a Lender

	
				
	 
	By:  
	/s/ DANIEL PAYER

	 
	Name:
	Daniel Payer

	 
	Title:
	Managing Director

	
				
	 
	By:  
	/s/ LOUIS P. LAVILLE, III

	 
	Name:
	Louis P. Laville, III

	 
	Title:
	Managing Director

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	THE BANK OF NOVA SCOTIA,

	 
	as a Lender

	
				
	 
	By:  
	/s/ J. FRAZELL

	 
	Name:
	J. Frazell

	 
	Title:
	Director

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	LLOYDS TSB BANK PLC,

	 
	as a Lender

	
				
	 
	By:  
	/s/ DENNIS MCCLELLAN

	 
	Name:
	Dennis McClellan

	 
	Title:
	Assistant Vice President (M040)

	
				
	 
	By:  
	/s/ CANDI OBRENTZ

	 
	Name:
	Candi Obrentz

	 
	Title:
	Vice President (O013)

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	BANCO BILBAO VIZCAYA ARGENTARIA S.A.,

	 
	NEW YORK BRANCH, as a Lender

	
				
	 
	By:  
	/s/ ALEJANDRO LUNA

	 
	Name:
	Alejandro Luna

	 
	Title:
	Head of Structured Trade Finance North America

	
				
	 
	By:  
	/s/ ANNE MAUREEN SARFATI

	 
	Name:
	Anne Maureen Sarfati

	 
	Title:
	Vice President-Structured Finance North America

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	CREDIT AGRICOLE CORPORATE & INVESTMENT

	 
	BANK, as a Lender

	
				
	 
	By:  
	/s/ DAVID GURGHIGIAN

	 
	Name:
	David Gurghigian

	 
	Title:
	Managing Director

	
				
	 
	By:  
	/s/ MICHAEL WILLIS

	 
	Name:
	Michael Willis

	 
	Title:
	Managing Director

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	PNC BANK, NATIONAL ASSOCIATION,

	 
	as a Lender

	
				
	 
	By:  
	/s/ JONATHAN PARKER

	 
	Name:
	Jonathan Parker

	 
	Title:
	Assistant Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	RB INTERNATIONAL FINANCE (USA), LLC,

	 
	as a Lender

	
				
	 
	By:  
	/s/ PETER ARMIERI

	 
	Name:
	Peter Armieri

	 
	Title:
	Vice President

	
				
	 
	By:  
	/s/ RANDALL ABRAMS

	 
	Name:
	Randall Abrams

	 
	Title:
	Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	ROYAL BANK OF CANADA,

	 
	as a Lender

	
				
	 
	By:  
	/s/ JASON S. YORK

	 
	Name:
	Jason S. York

	 
	Title:
	Authorized Signatory

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	UBS LOAN FINANCE LLC,

	 
	as a Lender

	
				
	 
	By:  
	/s/ MARY E. EVANS

	 
	Name:
	Mary E. Evans

	 
	Title:
	Associate Director

	
				
	 
	By:  
	/s/ IRJA R. OTSA

	 
	Name:
	Irja R. Otsa

	 
	Title:
	Associate Director

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	BARCLAYS BANK PLC,

	 
	as a Lender

	
				
	 
	By:  
	/s/ MICHAEL J. MOZER

	 
	Name:
	Michael J. Mozer

	 
	Title:
	Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	CREDIT SUISSE AG, CAYMAN ISLANDS

	 
	BRANCH, as a Lender

	
				
	 
	By:  
	/s/ MIKHAIL FAYBUSOVICH

	 
	Name:
	Mikhail Faybusovich

	 
	Title:
	Director

	
				
	 
	By:  
	/s/ VIPUL DHADDA

	 
	Name:
	Vipul Dhadda

	 
	Title:
	Associate

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	DEUTSCHE BANK TRUST COMPANY AMERICAS,

	 
	as a Lender

	
				
	 
	By:  
	/s/ MICHAEL GETZ

	 
	Name:
	Michael Getz

	 
	Title:
	Vice President

	
				
	 
	By:  
	/s/ MARCUS M. TARKINGTON

	 
	Name:
	Marcus M. Tarkington

	 
	Title:
	Director

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	REGIONS BANK,

	 
	as a Lender

	
				
	 
	By:  
	/s/ DAN CLUBB

	 
	Name:
	Dan Clubb

	 
	Title:
	Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	SUMITOMO MITSUI BANKING CORPORATION,

	 
	as a Lender

	
				
	 
	By:  
	/s/ KAZUHISA MATSUDA

	 
	Name:
	Kazuhisa Matsuda

	 
	Title:
	Managing Director

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	SUNTRUST BANK,

	 
	as a Lender

	
				
	 
	By:  
	/s/ LYNN TRAPANESE

	 
	Name:
	Lynn Trapanese

	 
	Title:
	Sr. Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	THE BANK OF TOKYO MITSUBISHI UFJ, LTD.,

	 
	as a Lender

	
				
	 
	By:  
	/s/ ANDREW ORAM

	 
	Name:
	Andrew Oram

	 
	Title:
	Managing Director

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	SOCIETE GENERALE,

	 
	as a Lender

	
				
	 
	By:  
	/s/ CHUNG-TAEK OH

	 
	Name:
	Chung-Taek Oh

	 
	Title:
	Director

	
				
	 
	By:  
	/s/ EMMANUEL CHESNEAU

	 
	Name:
	Emmanuel Chesneau

	 
	Title:
	Managing Director

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	CAPITAL ONE, N.A.,

	 
	as a Lender

	
				
	 
	By:  
	/s/ NANCY M. MAK

	 
	Name:
	Nancy M. Mak

	 
	Title:
	Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	CIBC INC.,

	 
	as a Lender

	
				
	 
	By:  
	/s/ TRUDY NELSON

	 
	Name:
	Trudy Nelson

	 
	Title:
	Authorized Signatory

	
				
	 
	By:  
	/s/ RICHARD ANTL

	 
	Name:
	Richard Antl

	 
	Title:
	Authorized Signatory

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	COMERICA BANK,

	 
	as a Lender

	
				
	 
	By:  
	/s/ JOEY POWELL

	 
	Name:
	Joey Powell

	 
	Title:
	Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	U.S. BANK NATIONAL ASSOCIATION,

	 
	as a Lender

	
				
	 
	By:  
	/s/ CAROL ANDERSON

	 
	Name:
	Carol Anderson

	 
	Title:
	Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	SIEMENS FINANCIAL SERVICES, INC.,

	 
	as a Lender

	
				
	 
	By:  
	/s/ JEFFREY B. IERVESE

	 
	Name:
	Jeffrey B. Iervese

	 
	Title:
	Vice President

	
				
	 
	By:  
	/s/ JOHN FINORE

	 
	Name:
	John Finore

	 
	Title:
	Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	AMEGY BANK NATIONAL ASSOCIATION,

	 
	as a Lender

	
				
	 
	By:  
	/s/ MARK A. SERICE

	 
	Name:
	Mark A. Serice

	 
	Title:
	Senior Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	FROST BANK, formerly The Frost National Bank,

	 
	as a Lender

	
				
	 
	By:  
	/s/ SARAH CERNOSEK

	 
	Name:
	Sarah Cernosek

	 
	Title:
	Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

	
		
	 
	BANK HAPOALIM

	 
	as a Lender

	
				
	 
	By:  
	/s/ JAMES P. SURLESS

	 
	Name:
	James P. Surless

	 
	Title:
	Vice President

	
				
	 
	By:  
	/s/ FREDERIC S. BECKER

	 
	Name:
	Frederic S. Becker

	 
	Title:
	Senior Vice President

SIGNATURE PAGE TO AMENDMENT NO. 2
TO FIFTH AMENDED AND RESTATED CREDIT AGREEMENT

EXHIBIT A
TO
AMENDMENT NO. 2

FORM OF REAFFIRMATION

Attached

AFFIRMATION OF LOAN DOCUMENTS
Reference is hereby made to (i) the Fifth Amended and Restated Credit Agreement, dated as of March 16, 2011 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among Tesoro Corporation (the “Borrower”), the financial institutions from time to time party thereto as Lenders (the “Lenders”) and JPMorgan Chase Bank, National Association, as Administrative Agent (the “Agent”) and (ii) the Amended and Restated Security Agreement, dated as of March 16, 2011 (as the same may be amended, restated supplemented or otherwise modified from time to time, the “Security Agreement”), by and among the Borrower, the Subsidiaries of the Borrower party thereto as Grantors, and the Agent.  Capitalized terms used in this Affirmation of Loan Documents and not defined herein shall have the meanings given to them in the Credit Agreement.
Each of the undersigned hereby acknowledges receipt of a copy of Amendment No. 2 to Fifth Amended and Restated Credit Agreement, which amends the Credit Agreement, and affirms the terms and conditions of each Loan Document executed by it, including, without limitation, the Security Agreement and the Guaranty, and acknowledges and agrees that each such Loan Document executed by it in connection with the Credit Agreement remains in full force and effect and is hereby reaffirmed, ratified and confirmed.  
Each reference to the “Credit Agreement” contained in the above‐referenced documents shall be a reference to the Credit Agreement as the same may from time to time hereafter be amended, modified, supplemented or restated.

Dated:  August 7,  2012

*******

	
	
	TESORO WASATCH, LLC

	TESORO COMPANIES, INC.

	TESORO ALASKA COMPANY

	TESORO REFINING AND MARKETING COMPANY

	TESORO HAWAII, LLC

	TESORO WEST COAST COMPANY, LLC

	TESORO SIERRA PROPERTIES, LLC

	TESORO NORTHSTORE COMPANY

	TESORO SOUTH COAST COMPANY, LLC

	TESORO TRADING COMPANY

	TESORO ENVIRONMENTAL RESOURCES COMPANY

	TESORO AVIATION COMPANY

	TESORO MARITIME COMPANY

	TESORO FAR EAST MARITIME COMPANY

	GOLD STAR MARITIME COMPANY

	
			
	By:  
	/s/ TRACY D. JACKSON

	Name:
	Tracy D. Jackson

	Title:
	Vice President and Treasurer

	
	
	SMILEY'S SUPER SERVICE, INC.

	
			
	By:  
	/s/ ARLEN O. GLENEWINKEL

	Name:
	Arlen O. Glenewinkel

	Title:
	Vice President and Controller

SIGNATURE PAGE TO AFFIRMATION OF LOAN DOCUMENTS

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00207-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00207-of-00352.parquet"}]]