Document:

Exhibit

	
	
	

EIGHTEENTH AMENDED AND RESTATED OMNIBUS AGREEMENT
among
HOLLYFRONTIER CORPORATION,
HOLLY ENERGY PARTNERS, L.P.
and
CERTAIN OF THEIR RESPECTIVE SUBSIDIARIES

January 19, 2018

TABLE OF CONTENTS
Page

ARTICLE I  DEFINITIONS AND INTERPRETATIONS    3
1.1    DEFINITIONS    3
1.2    INTERPRETATION    3
ARTICLE II  BUSINESS OPPORTUNITIES    3
2.1    RESTRICTED BUSINESSES    3
2.2    PERMITTED EXCEPTIONS    3
2.3    RIGHT OF OFFER    4
2.4    PROCEDURE FOR OFFERING ACQUIRED OR CONSTRUCTED ASSETS TO HEP    5
2.5    SCOPE OF PROHIBITION    6
2.6    ENFORCEMENT    6
2.7    LIMITATION ON ACQUISITIONS OF PERMITTED ASSETS BY HEP GROUP MEMBERS    6
2.8    TERMINATION OF ARTICLE II    6
ARTICLE III  INDEMNIFICATION    6
3.1    CONDITIONS OF INDEMNIFICATION BY THE HFC ENTITIES    6
3.2    INDEMNIFICATION BY THE HFC ENTITIES    6
3.3    CONDITIONS OF INDEMNIFICATION BY HEP ENTITIES    9
3.4    INDEMNIFICATION BY HEP ENTITIES    9
3.5    MUTUAL GENERAL INDEMNITY    9
3.6    EXCLUSIONS FROM INDEMNITY FOR POST-CLOSING DATE CLAIMS    10
3.7    INDEMNIFICATION PROCEDURES    10
3.8    LIMITATION ON INDEMNIFICATION OBLIGATIONS    12
3.9    WAIVER OF SUBROGATION    12
ARTICLE IV  GENERAL AND ADMINISTRATIVE EXPENSES    13
4.1    GENERAL    13
ARTICLE V  RIGHT OF FIRST REFUSAL    14
5.1    HFC RIGHT OF FIRST REFUSAL: PROHIBITION ON FURTHER TRANSFER OF TRANSFERRED ASSETS    14
5.2    PROCEDURES    14
ARTICLE VI  HFC PURCHASE OPTION    17
6.1    OPTION TO PURCHASE TULSA TRANSFERRED ASSETS    17
ARTICLE VII  API INSPECTIONS    17
7.1    API INSPECTIONS    17
ARTICLE VIII  DISPUTE RESOLUTION    18
8.1    DISPUTE RESOLUTION    18
8.2    ARBITRATION    18
8.3    CONFLICT    19
ARTICLE IX  FORCE MAJEURE    19
9.1    FORCE MAJEURE    19
ARTICLE X  MISCELLANEOUS    20
10.1    CHOICE OF LAW    20
10.2    NOTICES    20
10.3    ENTIRE AGREEMENT    21
10.4    AMENDMENT OR MODIFICATION    21
10.5    ASSIGNMENT    21
10.6    COUNTERPARTS    21
10.7    SEVERABILITY    21
10.8    FURTHER ASSURANCES    21
10.9    RIGHTS OF LIMITED PARTNERS    21
10.10    HEADINGS    22
10.11    LIMITATION OF DAMAGES    22
10.12    NATURE OF THE RELATIONSHIP    22

EXHIBITS

Exhibit A - Omnibus Agreement Amendments
Exhibit B - Definitions
Exhibit C - Interpretation
Exhibit D - Asset Indemnification Summary
Exhibit E - Administrative Fee

EIGHTEENTH AMENDED AND RESTATED
OMNIBUS AGREEMENT
THIS EIGHTEENTH AMENDED AND RESTATED OMNIBUS AGREEMENT (this “Agreement”) is being entered into on January 19, 2018 and effective as of December 8, 2017 (the “Effective Date”), by and among the following entities (all Delaware limited liability companies unless otherwise noted):  

	
		
	HollyFrontier Corporation, a Delaware corporation (“HFC”), and its Affiliates listed below (singularly, “HFC Entity”; and with HFC collectively, the “HFC Entities”):

	 
	El Paso Operating LLC (“El Paso Operating”)

	 
	HollyFrontier El Dorado Refining LLC (“HollyFrontier El Dorado”)

	 
	HollyFrontier Cheyenne Refining LLC (“HollyFrontier Cheyenne”)

	 
	HollyFrontier Tulsa Refining LLC (“HollyFrontier Tulsa”)

	 
	HollyFrontier Woods Cross Refining LLC (“HollyFrontier Woods Cross”)

	 
	Navajo Pipeline Co., L.P., a Delaware limited partnership (“Navajo Pipeline”)

	 
	HollyFrontier Navajo Refining LLC (“HollyFrontier Navajo”)

	 
	HollyFrontier Refining & Marketing LLC (“HFRM”)

	 
	HollyFrontier Transportation LLC (“HollyFrontier Transportation”)

	AND

	Holly Energy Partners, L.P., a Delaware limited partnership (“HEP”), and its Affiliates listed below (singularly, “HEP Entity”; and with HEP collectively, the “HEP Entities”):

	 
	Cheyenne Logistics LLC (“Cheyenne Logistics”)

	 
	El Dorado Logistics LLC (“El Dorado Logistics”)

	 
	El Dorado Operating LLC (“El Dorado Operating”)

	 
	El Dorado Osage LLC (“El Dorado Osage”)

	 
	Frontier Aspen LLC

	 
	HEP El Dorado LLC (“HEP El Dorado”)

	 
	HEP Logistics GP, L.L.C. (the “OLP GP”)

	 
	HEP Logistics Holdings, L.P., a Delaware limited partnership (the “General Partner”)

	 
	HEP Mountain Home, L.L.C.

	 
	HEP Navajo Southern, L.P., a Delaware limited partnership

	 
	HEP Pipeline Assets, Limited Partnership, a Delaware limited partnership

	 
	HEP Pipeline GP, L.L.C.

	 
	HEP Pipeline, L.L.C. (“HEP Pipeline”)

	 
	HEP Refining Assets, L.P., a Delaware limited partnership (“HEP Refining Assets”)

	 
	HEP Refining GP, L.L.C.

	 
	HEP Refining, L.L.C. (“HEP Refining”)

	 
	HEP Tulsa LLC (“HEP Tulsa”)

	 
	HEP UNEV Holdings LLC (“HEP UNEV”)

	 
	HEP UNEV Pipeline LLC (“HEP UNEV Pipeline”)

	 
	HEP Woods Cross, L.L.C.

	 
	Holly Energy Partners – Operating, L.P., a Delaware limited partnership (the “Operating Partnership”)

	 
	Holly Energy Storage – Lovington LLC

	 
	Holly Logistic Services, L.L.C. (“Holly GP”), 

	 
	Lovington-Artesia, L.L.C.

	 
	NWNAL LLC

	 
	Roadrunner Pipeline, L.L.C. (“Roadrunner”)

	 
	SLC Pipeline LLC

	 
	Woods Cross Operating LLC (“Woods Cross Operating”)

This Agreement amends and restates in its entirety the Seventeenth Amended and Restated Omnibus Agreement which was effective as of January 1, 2017, among certain of the HFC Entities and certain of the HEP Entities which were signatories thereto (the “Previous Amended and Restated Omnibus Agreement”).  
RECITALS:
WHEREAS, the Parties entered into an Omnibus Agreement on July 13, 2004 (as amended, the “Original Omnibus Agreement”) to evidence their agreement with respect to various administrative, indemnity and other obligations, which agreement has been further amended and restated as set forth on Exhibit A, resulting in the Previous Amended and Restated Omnibus Agreement. 
WHEREAS, the Parties desire to amend and restate the Previous Amended and Restated Omnibus Agreement as provided herein in order to, among other things, consolidate terms from various other agreements between the parties and to clarify terms as more particularly set forth herein.
AGREEMENT:
NOW, THEREFORE, in consideration of the premises and the covenants, conditions and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:
Article I 
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 B.
1.2    Interpretation.  Matters relating to the interpretation of this Agreement are set forth on Exhibit C.

ARTICLE II     
BUSINESS OPPORTUNITIES

2.1    Restricted Businesses.  For so long as a HFC Group Member owns a controlling interest in the general partner of HEP, and except as permitted by Section 2.2, Holly GP and each HFC Group Member shall be prohibited from engaging in or acquiring a controlling interest in or operating any business having assets or operations engaged in the Restricted Businesses.
2.2    Permitted Exceptions.  Notwithstanding any provision of Section 2.1 to the contrary, Holly GP and the HFC Group Members may engage in the following activities under the following circumstances:
		
	(a)
	the ownership and/or operation of any of the Retained Assets (including replacements of the Retained Assets);

		
	(b)
	any Restricted Businesses conducted by a HFC Group Member and Holly GP with the approval of the General Partner;

		
	(c)
	the ownership and/or operation of Restricted Businesses by an HFC Entity or Holly GP in its capacity as general partner of HEP or its general partner;

		
	(d)
	the ownership and/or operation of any asset or group of related assets used in the Restricted Business that are acquired or constructed by a HFC Group Member or Holly GP after the Closing Date (the “Permitted Assets”), the fair market value of which (as determined in good faith by the Board of Directors of HFC) is as follows:

		
	(i)
	less than $5 million at the time of such acquisition or good faith estimate of construction costs, as the case may be; or

		
	(ii)
	equal to or greater than $5 million at the time of the acquisition or good faith estimate of construction costs; provided, HEP has been offered the opportunity to purchase the Permitted Assets in accordance with Section 2.3 and HEP has elected not to purchase the Permitted Assets; 

		
	(e)
	the ownership of the UNEV Profits Interest;

		
	(f)
	the ownership of limited or any general partnership interests in HEP; and

		
	(g)
	the ownership and/or operation of the El Paso Hawkins Terminal.

2.3    Right of Offer.   
		
	(a)
	If Holly GP or a HFC Group Member becomes aware of an opportunity to acquire Permitted Assets with a fair market value (as determined in good faith by the Board of Directors of HFC) equal to or greater than $5 million, then, subject to Section 2.3(c), as soon as practicable, Holly GP or such HFC Group Member shall notify HEP of such opportunity and deliver to HEP, or provide HEP access to all information prepared by or on behalf of, or material information submitted or delivered to, Holly GP or such HFC Group Member relating to such potential transaction. As soon as practicable, but in any event within 30 days after receipt of such notification and information, HEP shall notify Holly GP or the HFC Group Member that it has either elected: 

		
	(i)
	not to cause a HEP Group Member to pursue the opportunity to purchase the Permitted Assets, or

		
	(ii)
	to cause a HEP Group Member to pursue the opportunity to purchase the Permitted Assets, in which case the applicable Parties shall follow the procedures in Section 2.4. 

		
	(b)
	If, at any time, HEP abandons such opportunity (as evidenced in writing by HEP to the HFC Group Member), Holly GP or the HFC Group Member may pursue such opportunity. Any Permitted Assets which are permitted to be acquired by Holly GP or a HFC Group Member must be so acquired:

		
	(i)
	within 12 months of the later to occur of (i) the date that Holly GP or the HFC Group Member becomes able to pursue such acquisition in accordance with the provisions of this Section 2.3, and (ii) the date upon which all required governmental approvals to consummate such acquisition have been obtained, and

		
	(ii)
	on terms not materially more favorable to Holly GP or the HFC Group Member than were offered to HEP. 

If either of these conditions are not satisfied, the opportunity must be reoffered to HEP in accordance with Section 2.3(a).  
		
	(c)
	Section 2.3(a) shall not apply if Holly GP or a HFC Group Member: 

		
	(i)
	becomes aware of an opportunity to make an acquisition that includes Permitted Assets and assets that are not Permitted Assets, and the Permitted Assets have a fair market value (as determined in good faith by the Board of Directors of HFC) equal to or greater than $5 million but comprise less than half of the fair market value (as determined in good faith by the Board of Directors of HFC) of the total assets being considered for acquisition, or 

		
	(ii)
	desires to construct Permitted Assets with an estimated construction cost (as determined in good faith by the Board of Directors of HFC) equal to or greater than $5 million;

provided, however, that in each case Holly GP or a HFC Group Member, as the case may be, shall comply with Section 2.4.  
2.4    Procedure for Offering Acquired or Constructed Assets to HEP    .
		
	(a)
	Within 180 days after the consummation of the acquisition or the completion of construction by Holly GP or a HFC Group Member of the Permitted Assets, as the case may be, Holly GP or the HFC Group Member shall notify HEP in writing of such acquisition or construction and offer HEP the opportunity to purchase such Permitted Assets (the “Offer”). The Offer shall set forth the terms relating to the purchase of the Permitted Assets, and, if Holly GP or any HFC Group Member desires to utilize the Permitted Assets, the Offer will also include (i) the commercially reasonable terms on which the HEP Group will provide services to Holly GP or the HFC Group Member to enable Holly GP or the HFC Group Member to utilize the Permitted Assets and (ii) the terms of any service agreements, leases or access agreements to be provided to HEP by Holly GP or the HFC Group relating to such assets. As soon as practicable, but in any event within 30 days after receipt of such written notification, HEP shall notify Holly GP or the HFC Group Member in writing that HEP has elected (i) not to cause a HEP Group Member to purchase the Permitted Assets, in which event Holly GP or the HFC Group Member shall be forever free to continue to own or operate such Permitted Assets, or (ii) to cause a HEP Group Member to purchase the Permitted Assets, in which event Section 2.4(b) and Section 2.4(c)  shall apply.

		
	(b)
	If within 60 days after receipt by HEP of the Offer, Holly GP or the HFC Group Member and HEP are able to agree on the fair market value of the subject Permitted Assets and the other terms of the Offer including, the terms, if any, on which the HEP Group will provide services to Holly GP or the HFC Group Member to enable it to utilize the Permitted Assets, a HEP Group Member shall purchase the Permitted Assets for the agreed upon fair market value as soon as commercially practicable after such agreement has been reached and, if required by the Offer or otherwise agreed, enter into an agreement with Holly GP or the HFC Group Member to provide services in a manner consistent with the Offer.  

		
	(c)
	If Holly GP or the HFC Group Member and HEP are unable to agree within 60 days after receipt by HEP of the Offer on the fair market value of the subject Permitted Assets and/or the other terms of the Offer, Holly GP or the HFC Entity, on the one hand, and HEP, on the other hand, will engage a mutually agreed upon investment banking firm to determine the disputed terms.  Such investment banking firm will determine the disputed terms within 30 days of its engagement and furnish Holly GP or the HFC Group Member, on the one hand, and HEP, on the other hand, its determination. The fees of the investment banking firm will be split equally between Holly GP or the HFC Group Member, on the one hand, and HEP, on the other hand.  Once the investment banking firm has submitted its determination of the disputed terms, HEP will have the right, but not the obligation, to cause a HEP Group Member to purchase the Permitted Assets pursuant to the Offer as modified by the determination of the investment banking firm.  HEP will provide written notice of its decision to Holly GP or the HFC Group Member within 30 days after the investment banking firm has submitted its determination.  Failure to provide such notice within such 30-day period shall be deemed to constitute a decision not to purchase the Permitted Assets.  If HEP elects to cause a HEP Group Member to purchase the Permitted Assets, then the HEP Group Member shall purchase the Permitted Assets pursuant to the Offer as modified by the determination of the investment banking firm as soon as commercially practicable after such determination and, if applicable, enter into an agreement with Holly GP or the HFC Group Member to provide services in a manner consistent with the Offer, as modified by the determination of the investment banking firm, if applicable.

2.5    Scope of Prohibition.  Except as provided in this Article II and the Partnership Agreement, Holly GP and each HFC Group Member shall be free to engage in any business activity, including those that may be in direct competition with any HEP Group Member.
2.6    Enforcement.  Holly GP and the HFC Group Members agree and acknowledge that the HEP Group does not have an adequate remedy at law for the breach by Holly GP and the HFC Group of the covenants and agreements set forth in this Article II, and that any breach by Holly GP and the HFC Group of the covenants and agreements set forth in this Article II would result in irreparable injury to the HEP Group.  Holly GP and the HFC Group Members further agree and acknowledge that any HEP Group Member may, in addition to the other remedies that may be available to the HEP Group, file a suit in equity to enjoin Holly GP and the HFC Group from such breach and hereby consent to the issuance of injunctive relief under this Agreement.  
2.7    Limitation on Acquisitions of Permitted Assets by HEP Group Members.  Notwithstanding anything in this Agreement to the contrary, a HEP Group Member who is not a party to this Agreement is prohibited from acquiring Permitted Assets.  In the event HEP desires a HEP Group Member who is not a party to this Agreement to acquire any Permitted Assets, then the General Partner shall first cause such HEP Group Member to become a party to this Agreement.  
2.8    Termination of Article II.  The provisions of this Article II may be terminated by HFC upon a Change of Control of HFC.  
ARTICLE III     
INDEMNIFICATION
3.1    Conditions of Indemnification by the HFC Entities    .   All indemnities set forth in Section 3.2 are subject to the following conditions:  
		
	(a)
	Except for the indemnity in Sections 3.2(a)(ii), (vii) and (viii), indemnities apply only to the Transferred Assets and only until the applicable expiration date, if any, related to each such Transferred Asset shown on Exhibit D.

		
	(b)
	The aggregate liability of the HFC Entities for all Covered Environmental Losses under Section 3.2(a) shall not exceed the amounts shown in column (b) on Exhibit D.  The liability limits listed in column (b) represent separate individual limits for each location.

		
	(c)
	Indemnities in Section 3.2(a)(i) apply only to the extent that such events or conditions occurred before the applicable Closing Date.

3.2    Indemnification by the HFC Entities.  
		
	(a)
	Subject to Section 3.1, the HFC Entities shall indemnify, defend and hold harmless the HEP Entities from and against any Liability or Claim incurred by the HEP Entities or any Third Party to the extent arising out of:

		
	(i)
	the Covered Environmental Losses relating to the Transferred Assets to the extent caused by the acts or omissions of an HFC Entity;

		
	(ii)
	the ownership or operation by HFC and its Affiliates of any asset not constituting part of the Transferred Assets, except to the extent arising out of the negligent acts or omissions or willful misconduct of HEP or any of its Affiliates;

		
	(iii)
	the failure of the applicable HEP Entity to be the owner of valid and indefeasible easement rights or fee ownership for interests in and to the lands on which any pipeline or related pump station, tank farm or equipment conveyed or contributed or otherwise Transferred (including by way of a Transfer of the ownership interest of a Person or by operation of law) to the applicable HEP Entity on the applicable Closing Date;

		
	(iv)
	the failure of the applicable HEP Entity to have the consents, licenses and permits necessary to allow any such Transferred Assets referred to in Section 3.2(a)(iii) to cross the roads, waterways, railroads and other areas upon which any such Transferred Assets are located as of the Closing Date;

		
	(v)
	the cost of curing any condition set forth in clauses (iii) or (iv) above to the extent such conditions do not allow any Transferred Asset to be operated in accordance with Prudent Industry Practice;

		
	(vi)
	the following:

		
	(A)
	events and conditions associated with the operation of the Transferred Assets before the Closing Date (other than Covered Environmental Losses which are provided for under Section 3.2(a)(i) and events and conditions covered by Section 3.4);

		
	(B)
	all legal actions pending against the HFC Entities on July 13, 2004; 

		
	(C)
	the completion of remediation projects at the respective HEP Entity’s El Paso Hawkins Terminal, Albuquerque terminal and Mountain Home terminal that were ongoing or scheduled as of July 13, 2004; 

		
	(D)
	events and conditions associated with the Retained Assets and whether occurring before or after the Closing Date; 

		
	(E)
	all federal, state and local tax liabilities attributable to the operation or ownership of the Transferred Assets prior to the applicable Closing Date, including any such tax liabilities of the HFC Entities that may result from the consummation of the formation transactions for the HEP Entities and the General Partner; and

		
	(F)
	any breach by HollyFrontier Tulsa of the representations and warranties set forth in Section 3.9 of the Master Lease and Access Agreement.

		
	(vii)
	the operation by HEP and its Affiliates of any assets owned by HFC or any of its Affiliates, except to the extent arising out of the gross negligence or willful misconduct of HEP or any of its Affiliates; 

		
	(viii)
	any failure to perform any covenant or agreement made or undertaken by HFC or its Affiliates in the (A) Master Lease and Access Agreement, or the exercise by HFC or its Affiliates of any rights and obligations under Section 2.2 thereof; or (B) Services and Secondment Agreement; except in either case to the extent arising out of the willful misconduct or negligence (standard negligence or gross negligence) of HEP or any of its Affiliates; and

		
	(ix)
	any failure of HEP or any of its Affiliates to perform its obligations pursuant to the Storage and Handling Agreement to the extent arising after February 22, 2016, except to the extent arising out of gross negligence and willful misconduct of HEP or any of its Affiliates.

		
	(b)
	The indemnities provided for in Section 3.2(a)(i) through (v) shall only apply if the HFC Entities are notified in writing of any of the foregoing prior to the applicable expiration date listed in column (b) on Exhibit D.

		
	(c)
	The indemnities provided for in Section 3.2(a)(vi) shall only apply if to the extent that the HFC Entities are notified in writing of any of the following events and conditions within five years after the applicable Closing Date.

		
	(d)
	Notwithstanding anything in this Agreement to the contrary, because HEP has been involved since the inception with the following Transferred Assets, as used in this Section 3.2, the definition of “Transferred Assets” shall not include the 16” Lovington/Artesia Intermediate Pipeline, the Beeson Pipeline, the Roadrunner Pipeline, the Tulsa Interconnecting Pipelines, and the UNEV Pipeline. 

		
	(e)
	To the extent that a good faith Claim by the HEP Entities for indemnification under Section 3.2(a) arises from events or conditions at the Transferred Tanks or the soil immediately underneath the Transferred Tanks or the Transferred Tanks’ secondary containment, and the HFC Entities refuse to provide such indemnification, then the burden of proof shall be on the HFC Entities to demonstrate that the events or conditions giving rise to the Claim arose after the Closing Date.   

		
	(f)
	As used in this Section 3.2, “Affiliates” of the Indemnifying Party shall not include the HEP Group Members when a HFC Entity is the Indemnifying Party and shall not include the HFC Group Members when the Indemnifying Party is a HEP Entity.

3.3    Conditions of Indemnification by the HEP Entities    .  The indemnities set forth in Section 3.4 apply only to the extent that such events or conditions occurred on or after the applicable Closing Date, if any. 
3.4    Indemnification by the HEP Entities. 
		
	(a)
	Subject to Section 3.3, the HEP Entities shall indemnify, defend and hold harmless the HFC Entities from and against any Liability or Claim suffered or incurred by the HFC Entities or any Third Party to the extent arising from:

		
	(i)
	the Covered Environmental Losses associated with operation of (A) the Other Assets (except as otherwise indicated in Exhibit D, Part 2), and (B) the Transferred Assets by a Person (other than a HFC Entity or ownership and operation of the Transferred Assets by a Person other than a HFC Entity);

		
	(ii)
	operation by HEP and HEP’s Affiliates of any asset owned by HFC or any of HFC’s Affiliates but only to the extent caused by the gross negligence or willful misconduct of any of the HEP Entities; and

		
	(iii)
	any failure to perform any covenant or agreement made or undertaken by any HEP or its Affiliates in the (A) Master Lease and Access Agreement, or the exercise by HEP or its Affiliates of any rights and obligations under Section 2.2 thereof; or (B) Services and Secondment Agreement; except in either case to the extent arising out of the willful misconduct or negligence (standard negligence or gross negligence) of HFC or any of its Affiliates.

		
	(b)
	Nothing set forth in Section 3.4(a) shall make the HEP Entities responsible for any post-Closing Date negligent actions or omissions or willful misconduct by the HFC Entities.  

		
	(c)
	Notwithstanding Section 3.4(a)(i), the indemnity provided for in Section 3.4(a)(i) shall only apply to the El Dorado Repurchased Tanks to the extent the Environmental Losses arise from a violation, correction, event or condition occurring during the period that El Dorado Logistics owned such Repurchased Tanks.

3.5    Mutual General Indemnity.  Following the applicable Closing Dates, the HFC Entities and the HEP Entities, respectively, agree to indemnify, protect, defend and hold harmless each other from and against any and all Liabilities and Claims based upon, in connection with, relating to or arising out of their respective actions or inactions in connection with the operation of the Indemnifying Party’s respective assets or any failure to comply with any Applicable Laws; in any case of or by any Indemnifying Party or its subcontractors, suppliers, materialmen, employees, agents, successors and assigns, or other persons directly or indirectly employed by them, including the following:
		
	(a)
	any injury to or death of any Person or the damage to or theft, destruction, loss or loss of use of, any property; or

		
	(b)
	the failure to perform any covenant or agreement made or undertaken by the applicable Party in agreements with any of the other Parties.

3.6    Exclusions from Indemnity for Post-Closing Date Claims.  NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, FOR ANY LIABILITIES OR CLAIMS ARISING OUT OF EVENTS OCCURRING AFTER AN APPLICABLE CLOSING DATE: 
		
	(a)
	EXCEPT AS EXPRESSLY PROVIDED IN SECTION 3.2(a)(vii), THE INDEMNIFICATION OBLIGATIONS HEREIN SHALL NOT EXTEND TO THE PROPORTIONATE AMOUNT OF ANY SUCH LIABILITY OR CLAIM CAUSED BY THE NEGLIGENCE OR WILLFUL MISCONDUCT OF AN INDEMNITEE OR ITS AGENTS OR EMPLOYEES.

		
	(b)
	No statute, rule or regulation that precludes an injured party from bringing an action against a fellow employee or employer shall preclude a Party from seeking and obtaining a judicial determination of the fault or negligence of such Persons.

		
	(c)
	Each Party shall be responsible for any insurance deductibles or self-insured retention arising out of any Liability or Claim to the extent such Liability or Claim arises out of the negligence or willful misconduct of such Party, except to the extent the subrogation waiver provided for in Section 3.9 applies to such Liability or Claim.

3.7    Indemnification Procedures.  
		
	(a)
	The Indemnified Party agrees that promptly after it becomes aware of facts giving rise to a Claim for indemnification under this Article III, it will provide notice thereof in writing to the Indemnifying Party, specifying the nature of and specific basis for such Claim.

		
	(b)
	The Indemnifying Party shall have the right to control all aspects of the defense of (and any counterclaims with respect to) any claims brought against the Indemnified Party that are covered by the indemnification under this Article III, including, the selection of counsel, determination of whether to appeal any decision of any court and the settling of any such matter or any issues relating thereto; provided, however, that no such settlement shall be entered into without the consent of the Indemnified Party unless it includes a full release of the Indemnified Party from such matter or issues, as the case may be.

		
	(c)
	The Indemnified Party agrees to cooperate fully with the Indemnifying Party, with respect to all aspects of the defense of any Claims covered by the indemnification under this Article III, including, the prompt furnishing to the Indemnifying Party of any correspondence or other notice relating thereto that the Indemnified Party may receive, permitting the name of the Indemnified Party to be utilized in connection with such defense, the making available to the Indemnifying Party of any files, records or other information of the Indemnified Party that the Indemnifying Party considers relevant to such defense and making available to the Indemnifying Party any employees of the Indemnified Party.

		
	(d)
	In no event shall the obligation of the Indemnified Party to cooperate with the Indemnifying Party as set forth in Section 3.7(c) be construed as imposing upon the Indemnified Party an obligation to hire and pay for counsel in connection with the defense of any Claims covered by the indemnification set forth in this Article III; provided, however, that the Indemnified Party may, at its own option, cost and expense, hire and pay for counsel in connection with any such defense.  The Indemnifying Party agrees to keep any such counsel hired by the Indemnified Party informed as to the status of any such defense, but the Indemnifying Party shall have the right to retain sole control over such defense.

		
	(e)
	In connection with the indemnities in this Article III, Indemnifying Party: 

		
	(i)
	agrees to use reasonable efforts to minimize the impact thereof on the operations of the Indemnified Party;

		
	(ii)
	agrees to enter into a joint defense agreement with Indemnifying Party in order to allow communication by counsel if Indemnified Party elects to involve separate counsel; and 

		
	(iii)
	agrees to maintain the confidentiality of all files, records, and other information furnished by the Indemnified Party pursuant to this Section 3.7.  

		
	(f)
	The amounts for which an Indemnified Party is entitled to indemnification under this Article III shall be reduced by the net amounts recovered by the Indemnified Party pursuant to contractual indemnities from any Third Party (other than pursuant to insurance policies that are not required to include a waiver of subrogation pursuant to Section 3.9) after deducting the reasonable unreimbursed out-of-pocket fees and expenses incurred by the Indemnified Party in recovering such amounts (the “Net Recovery”).  If the Indemnified Party receives a Net Recovery subsequent to an indemnification payment by the Indemnifying Party under this Article III, then such Indemnified Party shall promptly reimburse the Indemnifying Party for any payment made or expense incurred by such Indemnifying Party in connection with providing such indemnification payment up to Net Recovery.  An Indemnified Party shall be obligated to pursue all contractual indemnities (including insurance claims) that such Indemnified Party has with any Third Party, provided, however, if the Indemnified Party’s right to such indemnification is assignable, the Indemnified Party may, in its sole discretion and in lieu of pursuing such claim, elect to assign such indemnification claim to the Indemnifying Party to pursue and shall reasonably cooperate with the Indemnifying Party (including, making its relevant books, records, officers, information and testimony reasonably available to the Indemnifying Party) in the Indemnifying Party’s pursuit of such claim.

		
	(g)
	For avoidance of doubt, no Claim may be asserted pursuant to Section 3.2 or Section 3.4 following the applicable expiration of the indemnity related to such Claim; provided that any Claim asserted in writing prior to the expiration date of such indemnity that is the basis for such Claim shall survive until such Claim is finally resolved and satisfied.  The date on which notification of a Claim for indemnification is received by the Indemnifying Party shall determine whether such Claim is timely made. 

3.8    Limitation on Indemnification Obligations. 
		
	(a)
	Notwithstanding anything in this Agreement to the contrary, when referring to the indemnification obligations of the HFC Entities in Article III, the definition of HFC Entities shall be deemed to mean solely (b) the HFC Entity or HFC Entities that own or operate, or owned or operated immediately prior to the transfer to the HEP Entities, the Retained Asset, Transferred Asset or other property in question with respect to which indemnification is sought by reason of such HFC Entity’s or HFC Entities’ ownership or operation of the Retained Asset, Transferred Asset or other property in question or that is responsible for causing such loss, damage, injury, judgment, claim, cost, expense or other liability suffered or incurred by the HEP Entities for which it is entitled to indemnification under Article III and (c) HFC.

		
	(b)
	 Notwithstanding anything in this Agreement to the contrary, when referring to the indemnification obligations of the HEP Entities in Article III, the definition of HEP Entities shall be deemed to mean solely (d) the HEP Entity or HEP Entities that own or operate, or previously owned or operated, the Transferred Asset or other property in question or that is responsible for causing such loss, damage, injury, judgment, claim, cost, expense or other liability suffered or incurred by the HFC Entities for which they are entitled to indemnification under Article III, (e) HEP and (f) Operating Partnership.

		
	(c)
	For the avoidance of doubt, any indemnification obligations of the HFC Entities in Article III with respect to any indemnifiable losses incurred by or attributable to the UNEV Pipeline shall be (i) limited to an amount that is the product of (x) the amount of such losses, multiplied by (y) HEP UNEV’s direct or indirect percentage ownership interest in the UNEV Pipeline at the time such losses were incurred and (ii) payable to, for the benefit of and recoverable solely by HEP UNEV or any HEP Entity designated by HEP UNEV (and not by UNEV Pipeline, LLC).

3.9    Subrogation; Waiver of Subrogation.  To the extent that any of the HFC Entities or HEP Entities in fact receive full indemnification payments pursuant to Section 3.2(a)(viii) or Section 3.4(a)(iii) hereof, as the case may be, the HFC Entity or HEP Entity paying such Claim shall be subrogated to the receiving party’s rights with respect to the transaction or event requiring or giving rise to such indemnity.  Notwithstanding the foregoing, each of the HFC Entities and the HEP Entities, hereby waives and releases, and shall cause their respective insurers, to waive and release, all rights against each other and any of their respective contractors, subsidiaries, consultants, agents and employees for loss or damages to any of the Transferred Assets to the extent of fire and other hazards covered by property insurance applicable to the property to which such loss or damage occurs, except such rights as they have to proceeds of such insurance.  For the purposes of this Section 3.9, all deductibles shall be considered insured losses.  Without limiting the foregoing, all of the Parties’ policies of property insurance for the Transferred Assets shall be endorsed to provide a complete waiver for the benefit of the other Parties and their Affiliates of (i) any right of recovery which the insurer may have or acquire against the other Parties or any of its Affiliates, or its or their employees, officers or directors for payments made or to be made under such policies and (ii) any lien or right of subrogation which the insurer may have or acquire for payments made or to be made to any person or entity who asserts a Claim against such other Parties or any of its  Affiliates, or its or their employees, officers or directors.  The releases and waivers of subrogation set forth above in this paragraph shall apply notwithstanding any obligation of a Party to indemnify the other Party for the Claim(s) at issue.
ARTICLE IV     
GENERAL AND ADMINISTRATIVE EXPENSES
4.1    General.
		
	(a)
	The Operating Partnership will pay HFC an administrative fee (the “Administrative Fee”), payable in equal quarterly installments, for the provision by HFC and its Affiliates for the HEP Group’s benefit of all the general and administrative services that HFC and its Affiliates provide, including, the general and administrative services listed on Exhibit E.  As of December 31, 2017, the Administrative Fee is $2,464,000.

		
	(b)
	The Administrative Fee shall be adjusted on July 1, 2018, effective as of January 1, 2018, by an amount equal to the PPI Adjustment.  Thereafter, the Administrative Fee shall be adjusted on July 1 of each calendar year, commencing on July 1, 2019, by an amount equal to the PPI Adjustment.  If the PPI is no longer published, then HFC and HEP shall negotiate in good faith to agree on a new index that gives comparable protection against inflation, and the same method of adjustment for increases in the new index shall be used to calculate increases in the Administrative Fee.  If the Parties are unable to agree, a new index will be determined by the dispute resolution process in Article VIII.

		
	(c)
	At the end of each year, either Party will have the right to submit to the other Party a proposal to change the Administrative Fee for that year and/or the method of adjusting the Administrative Fee if either Party believes in good faith that the general and administrative services performed by HFC and its Affiliates for the benefit of the HEP Group for the year in question are inconsistent with the Administrative Fee for that year.  If either Party submits such a proposal, the Parties agree that they will negotiate in good faith to determine if the Administrative Fee for that year should be changed and, if so, the amount of such change.  If the Parties are unable to agree, the Parties will submit the matter to dispute resolution pursuant to Article VIII.

		
	(d)
	The Administrative Fee shall not include and the HEP Group shall reimburse HFC and its Affiliates for:

		
	(i)
	salaries of employees of HFC or its Affiliates, to the extent, but only to the extent, such employees perform services for the HEP Group; 

		
	(ii)
	the cost of employee benefits relating to employees of HFC or its Affiliates, such as 401(k), pension, and health insurance benefits, to the extent, but only to the extent, such employees perform services for the HEP Group and have not been paid by HEP pursuant to the Master Site Services Agreement and the Services and Secondment Agreement; 

		
	(iii)
	any amounts payable under the Master Site Services Agreement and the Services and Secondment Agreement; 

		
	(iv)
	all sales, use, excise, value added or similar taxes, if any, that may be applicable from time to time in respect of the services provided by the HFC and its Affiliates to HEP pursuant to Section 4.1(a); and

		
	(v)
	all premiums for insurance policies carried for and on behalf of HEP.

		
	(e)
	Either HFC, on the one hand, or HEP, on the other hand, may terminate this Article IV, by providing the other with written notice of its election to do so at least six months prior to the proposed date of termination.    

ARTICLE V     
RIGHT OF FIRST REFUSAL
5.1    HFC Right of First Refusal: Prohibition on Transfer.
		
	(a)
	The HEP Entities hereby grant to HFC a right of first refusal on any proposed Transfer (other than a grant of a security interest to a bona fide third-party lender or a Transfer to another HEP Group Member) of any of the Assets.

		
	(b)
	The HEP Entities are prohibited from Transferring any of the Assets to a HEP Group Member that is not a party to this Agreement.  In the event the HEP Entities desire to Transfer any of the Assets to a HEP Group Member that is not a Party to this Agreement, they shall first cause the proposed transferee HEP Group Member to become a Party to this Agreement.     

		
	(c)
	The Parties acknowledge that all potential Transfers of Sale Assets pursuant to this Article V are subject to obtaining any and all required written consents of governmental authorities and other third parties and to the terms of all existing agreements in respect of the Sale Assets.

		
	(d)
	Notwithstanding anything in this Agreement to the contrary, as used in Article V the definition of “Assets” shall not include the Tulsa Transferred Assets or the UNEV Pipeline, but shall expressly include the equity interests of UNEV Pipeline, LLC, HEP UNEV Pipeline, HEP UNEV, El Dorado Osage and Osage then owned directly or indirectly by the HEP Entities.  

5.2    Procedures.  
		
	(a)
	If a HEP Entity proposes to Transfer any of the Assets to any Person pursuant to a bona fide third-party offer (an “Acquisition Proposal”), then HEP shall promptly give written notice (a “Disposition Notice”) thereof to HFC. The Disposition Notice shall set forth the following information in respect of the proposed Transfer:

		
	(i)
	the name and address of the prospective acquiror (the “Proposed Transferee”);

		
	(ii)
	the Assets subject to the Acquisition Proposal (the “Sale Assets”);

		
	(iii)
	the purchase price offered by such Proposed Transferee (the “Offer Price”); 

		
	(iv)
	reasonable detail concerning any non-cash portion of the proposed consideration, if any, to allow HFC to reasonably determine the fair market value of such non-cash consideration; 

		
	(v)
	the HEP Entities’ estimate of the fair market value of any non-cash consideration; and 

		
	(vi)
	all other material terms and conditions of the Acquisition Proposal that are then known to the HEP Entities. 

		
	(b)
	To the extent the Acquisition Proposal consists of consideration other than cash (or in addition to cash) the Offer Price shall be deemed equal to the amount of any such cash plus the fair market value of such non-cash consideration. In the event HFC and the HEP Entities agree as to the fair market value of any non-cash consideration, HFC will provide written notice of its decision regarding the exercise of its right of first refusal to purchase the Sale Assets within 30 days of its receipt of the Disposition Notice (the “First ROFR Acceptance Deadline”). Failure to provide such notice within such 30-day period shall be deemed to constitute a decision not to purchase the Sale Assets. 

		
	(c)
	In the event (i) HFC’s determination of the fair market value of any non-cash consideration described in the Disposition Notice (to be determined by HFC within 30 days of receipt of such Disposition Notice) is less than the fair market value of such consideration as determined by the HEP Entities in the Disposition Notice and (ii) HFC and the HEP Entities are unable to mutually agree upon the fair market value of such non-cash consideration within 30 days after HFC notifies the HEP Entities of its determination thereof, the HEP Entities and HFC shall engage a mutually-agreed-upon investment banking firm to determine the fair market value of the non-cash consideration. Such investment banking firm shall be instructed to return its decision within 30 days after all material information is submitted thereto, which decision shall be final. The fees of the investment banking firm will be split equally between HFC and the HEP Entities. HFC will provide written notice of its decision regarding the exercise of its right of first refusal to purchase the Sale Assets to the HEP Entities within 30 days after the investment banking firm has submitted its determination (the “Second ROFR Acceptance Deadline”). Failure to provide such notice within such 30-day period shall be deemed to constitute a decision by HFC not to purchase the Sale Assets. 

		
	(d)
	If HFC fails to exercise a right during any applicable period set forth in this Section 5.2, HFC shall be deemed to have waived its rights with respect to such proposed disposition of the Sale Assets, but not with respect to any future offer of such Sale Assets.

		
	(e)
	If HFC chooses to exercise its right of first refusal to purchase the Sale Assets under Sections 5.1(a) and 5.2(c), HFC and the HEP Entities shall enter into a purchase and sale agreement for the Sale Assets which shall include the following terms:

		
	(i)
	HFC will agree to deliver cash for the Offer Price (or any other consideration agreed to by HFC and the HEP Entities (each in their sole discretion));

		
	(ii)
	the HEP Entities will represent that they have good, indefeasible and unencumbered title to the Sale Assets, subject to all recorded and unrecorded matters and all physical conditions and other matters in existence on the closing date for the Sale Assets, plus any other reasonable and customary matters and such matters as HFC may approve, which approval will not be unreasonably withheld. If HFC desires to obtain any title insurance with respect to the Sale Assets, the full cost and expense of obtaining the same (including  the cost of title examination, document duplication and policy premium) shall be borne by HFC; 

		
	(iii)
	the HEP Entities will grant to HFC the right, exercisable at HFC’s risk and expense, to conduct such surveys, tests and inspections of the Sale Assets as HFC may deem desirable, so long as such surveys, tests or inspections do not damage the Sale Assets or interfere with the activities of the HEP Entities thereon and so long as HFC has furnished the HEP Entities with evidence that adequate liability insurance is in full force and effect;

		
	(iv)
	HFC will have the right to terminate its obligation to purchase the Sale Assets under this Article V if the results of any searches, surveys, tests or inspections conducted pursuant to Section 5.2(e)(ii) or Section 5.2(e)(iii) above are, in the reasonable opinion of HFC, unsatisfactory;

		
	(v)
	the closing date for the purchase of the Sale Assets shall, unless otherwise agreed to by HFC and the HEP Entities, occur no later than 90 days following receipt by the HEP Entities of written notice by HFC of its intention to exercise its option to purchase the Sale Assets pursuant to Section 5.2(b) or (c);

		
	(vi)
	the HEP Entities shall execute, have acknowledged and deliver to HFC a special warranty deed, assignment of easement, or comparable document, as appropriate, in the applicable jurisdiction, on the closing date for the purchase of the Sale Assets constituting real property interests conveying the Sale Assets unto HFC free and clear of all encumbrances created by the HEP Entities other than those set forth in Section 5.2(e)(ii) above;

		
	(vii)
	the sale of any Sale Assets shall be made on an “as is,” “where is” and “with all faults” basis, and the instruments conveying such Sale Assets shall contain appropriate disclaimers; and

		
	(viii)
	neither the HEP Entities nor HFC shall have any obligation to sell or buy the Sale Assets if any of the material consents referred to in Section 5.1(c) have not been obtained or such sale or purchase is prohibited by Applicable Law.

		
	(f)
	HFC and the HEP Entities shall cooperate in good faith in obtaining all necessary governmental and other Third Party approvals, waivers and consents required for the closing.  Any such closing shall be delayed, to the extent required, until the third Business Day following the expiration of any required waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended; provided, however, that such delay shall not exceed 120 days and, if governmental approvals and waiting periods shall not have been obtained or expired, as the case may be, by such 120th day, then HFC shall be deemed to have waived its right of first refusal with respect to the Sale Assets described in the Disposition Notice and thereafter neither HFC nor HEP shall have any further obligation under this Article V with respect to such Sale Assets unless such Sale Assets again become subject to this Article V pursuant to Section 5.2(g).  

		
	(g)
	If the Transfer to the Proposed Transferee is not consummated in accordance with the terms of the Acquisition Proposal within the later of (i) 180 days after the later of the applicable ROFR Acceptance Deadline, and (ii) 10 days after the satisfaction of all governmental approval or filing requirements, if any, the Acquisition Proposal shall be deemed to lapse, and the HEP Entities may not Transfer any of the Sale Assets described in the Disposition Notice without complying again with the provisions of this Article V if and to the extent then applicable.

ARTICLE VI     
HFC PURCHASE OPTION
6.1    Option to Purchase Tulsa Transferred Assets.  The Parties acknowledge the purchase options and right of first refusal granted to an Affiliate of HFC with respect to the Tulsa Transferred Assets in the Purchase Option Agreement.
ARTICLE VII     
API INSPECTIONS
7.1    API Inspections.  With respect only to the 2008 Tanks, the applicable HFC Entity that sold the particular tank(s) to the applicable HEP Entity shall, during the period that commences on the applicable Closing Date and ends five (5) years thereafter (the “Initial Tank Inspection Period”) reimburse the applicable HEP Entity for the actual costs associated with the first regularly scheduled API 653 inspection (the “Initial Tank Inspections”) and the costs associated with the replacement of the tank mixers on each of the Transferred Tanks after the Closing Date and any repairs required to be made to the 2008 Tanks as a result of any discovery made during the Initial Tank Inspections; provided, however, that 
		
	(a)
	such HFC Entity shall not reimburse such HEP Entity with respect to the relocated crude oil Tank 437 in the Artesia refinery complex or the new crude oil tank to replace crude oil Tank 439 in the Artesia refinery complex more particularly described in the Purchase and Sale Agreement referenced in the definition of 2008 Crude Pipelines, Tanks and Related Assets, and 

		
	(b)
	upon expiration of the Initial Tank Inspection Period, all of the obligations of the applicable HFC Entity pursuant to this Article VII shall terminate, except that the Initial Tank Inspection Period shall be extended if, and only to the extent that

		
	(i)
	inaccessibility of the 2008 Tanks during the Initial Tank Inspection Period caused the delay of an Initial Tank Inspection originally scheduled to be performed during the Initial Tank Inspection Period, and 

		
	(ii)
	the applicable HFC Entity received notice from the applicable HEP Entity regarding such delay at the time it occurred.

ARTICLE VIII     
DISPUTE RESOLUTION
8.1    Dispute Resolution.  
		
	(a)
	Any Arbitrable Dispute arising out of or in connection with this Agreement, including any question regarding the existence, validity or termination of this Agreement, shall be exclusively resolved in accordance with this Article VIII.

		
	(b)
	In the event of a Arbitrable Dispute between an HFC Entity and an HEP Entity, the HFC Entity and the HEP Entity shall, within ten (10) days of a written request by either of them to the other, meet in good faith to resolve such Arbitrable Dispute in a meeting that includes individuals with authority to resolve the Arbitrable Dispute at such meeting.

		
	(c)
	If the HFC Entity and the HEP Entity are unable to resolve the Arbitrable Dispute within ten (10) days after submission of such Arbitrable Dispute as provided in Section 8.1(b), either the HFC Entity or the HEP Entity may submit the matter to arbitration in accordance with the terms of Section 8.2 below.

		
	(d)
	Pending resolution of any Arbitrable Dispute between the HFC Entity and the HEP Entity, the HFC Entity and the HEP Entity shall continue to perform in good faith their respective obligations under this Agreement based upon the last agreed performance demonstrated prior to the Arbitrable Dispute.

		
	(e)
	Resolution of any Arbitrable Dispute between the HFC Entity and the HEP Entity involving payment of money by either the HFC Entity and the HEP Entity to the other shall include payment of interest at the Prime Rate from the original due date of such amount.

		
	(f)
	Each of the HFC Entity and the HEP Entity shall, in addition to all rights provided herein or provided by Law, be entitled to the remedies of specific performance and injunction to enforce its rights hereunder.

8.2    Arbitration    .  Any and all Arbitrable Disputes must be resolved through the use of binding arbitration using three arbitrators, in accordance with the Commercial Arbitration Rules of the American Arbitration Association, as supplemented to the extent necessary to determine any procedural appeal questions by the Federal Arbitration Act (Title 9 of the United States Code, as amended from time to time).  
		
	(a)
	Arbitration must be initiated within the time limits set forth in this Agreement, or if no such limits apply, then within the time period allowed by the applicable statute of limitations.  Arbitration may be initiated by either party (“Claimant”) by delivering written notice to the other (“Respondent”) that the Claimant elects to refer the Arbitrable Dispute to binding arbitration.  Claimant’s notice initiating binding arbitration must identify the arbitrator Claimant has appointed.  The Respondent shall respond to Claimant within thirty (30) days after receipt of Claimant’s notice, identifying the arbitrator Respondent has appointed.  If the Respondent fails for any reason to name an arbitrator within the 30-day period, Claimant shall petition the American Arbitration Association for appointment of an arbitrator for Respondent’s account.  The two arbitrators so chosen shall select a third arbitrator within thirty (30) days after the second arbitrator has been appointed.  

		
	(b)
	The hearing will be conducted in Dallas, Texas and commence within thirty (30) days after the selection of the third arbitrator.  The parties and the arbitrators shall proceed diligently and in good faith in order that the award may be made as promptly as possible.  Except as provided in the Federal Arbitration Act, the decision of the arbitrators will be binding on, and non-appealable by, the Claimant and Respondent.    

		
	(c)
	The Claimant will pay the compensation and expenses of the arbitrator named by it, and the Respondent will pay the compensation and expenses of the arbitrator named by or for it.  The Claimant and Respondent will each pay one-half of the compensation and expenses of the third arbitrator.  

		
	(d)
	All arbitrators must (i) be neutral parties who have never been officers, directors or employees of any of the Parties or any of their Affiliates and who have not provided consulting services (directly or indirectly) for at least three (3) years prior to their appointment and (ii) have at least seven (7) years’ experience in the petroleum transportation industry.  

		
	(e)
	The arbitrators shall have no right to grant or award indirect, consequential, punitive or exemplary damages of any kind.  

		
	(f)
	The Arbitrable Disputes may be arbitrated in a common proceeding along with disputes under other agreements between the Claimant and Respondent to the extent that the issues raised in such disputes are related.  Without the written consent of the Claimant and Respondent, no unrelated disputes (including those with Affiliates of either Claimant or Respondent) or Third Party disputes may be joined to an arbitration pursuant to this Agreement.

8.3    Conflict    .  If there is any inconsistency between this Article VIII and the Commercial Arbitration Rules or the Federal Arbitration Act, the terms of this Article VIII will control the rights and obligations of the parties seeking arbitration.  
ARTICLE IX     
FORCE MAJEURE
9.1    Force Majeure.  In the event of any Party being rendered unable, wholly or in part, by a Force Majeure event from performing its obligations under any of the Master Agreements, Services and Secondment Agreement or this Agreement for a period of more than thirty (30) consecutive days, then, upon the delivery of notice and full particulars of the Force Majeure event relied on (“Force Majeure Notice”) to the other affected Party(ies), the obligations of the Parties, so far are they are affected by the Force Majeure event, shall be suspended during the continuance of any inability so caused.  The cause of the Force Majeure event shall, as far as possible, be remedied with all reasonable dispatch, except that no Party shall be compelled to resolve any strikes, lockouts or other industrial disputes other than as it shall determine to be in its best interests.  
ARTICLE X     
MISCELLANEOUS
10.1    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.  
10.2    Notices.  
		
	(a)
	Any notice or other communication given under this Agreement shall be in writing and shall be (1) delivered personally, (2) sent by documented overnight delivery service, (3) sent by email transmission, or (4) 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 the HFC Entities:
HollyFrontier Corporation 
2828 N. Harwood, Suite 1300 
Dallas, Texas 75201 
Attention: 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, Suite 1300 
Dallas, Texas 75201 
Attention:  General Counsel 
Email address: general.counsel@hollyfrontier.com 
Notices to the HEP Entities:
Holly Energy Partners, L.P. 
c/o Holly Logistic Services, L.L.C. 
2828 N. Harwood, Suite 1300 
Dallas, Texas 75201 
Attention: 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:
Holly Energy Partners, L.P. 
c/o Holly Logistic Services, L.L.C.  
2828 N. Harwood, Suite 1300 
Dallas, Texas 75201 
Attention:  General Counsel  
Email address: general.counsel@hollyenergy.com 
		
	(b)
	Any Party may at any time change its address for service from time to time by giving notice to the other Parties in accordance with this Section 10.2.  

10.3    Entire Agreement.  This Agreement, together with the other agreements and instruments referred to herein, constitutes the entire agreement of the Parties relating to the matters contained herein, superseding as of the Effective Date all prior contracts or agreements (including the Original Omnibus Agreement), whether oral or written, relating to the matters contained herein.  For avoidance of doubt the Eleventh Amended and Restated Omnibus Agreement, effective as of January 1, 2015, shall remain in full force and effect with respect to any event, act or omission occurring before January 1, 2015.

10.4    Amendment or Modification.  No amendment or modification of this Agreement shall be valid unless it is in writing and signed by the parties hereto.  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 hereto if each of HFC (on behalf of the HFC Entities) and HEP (on behalf of the HEP Entities) execute an amended, modified, revised or updated exhibit or schedule, as applicable, and attach it to this Agreement.  Such amended, modified, revised or updated exhibits shall be sequentially numbered (e.g. Exhibit A‐1, Exhibit A‐2, etc.), dated and appended as an additional exhibit or schedule to this Agreement and shall replace the prior exhibit or schedule, as applicable, in its entirety, 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.

10.5    Assignment.  No Party shall have the right to assign any of its rights or obligations under this Agreement without the consent of the other Parties hereto.  
10.6    Counterparts.  This Agreement may be executed in any number of paper or electronic counterparts with the same effect as if all signatory parties had signed the same document.  All such counterparts shall be construed together and shall constitute one and the same agreement.
10.7    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.
10.8    Further Assurances.  In connection with this Agreement and all transactions contemplated by this Agreement, each 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.
10.9    Rights of Limited Partners.  The provisions of this Agreement are enforceable solely by the Parties to this Agreement, and no Limited Partner (as defined in the Partnership Agreement) of HEP shall have the right, separate and apart from HEP, to enforce any provision of this Agreement or to compel any Party to this Agreement to comply with the terms of this Agreement.  There are no Third Party beneficiaries to this Agreement.
10.10    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.  
10.11    Limitation of Damages.  NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN ANY OTHER PROVISION OF THIS AGREEMENT AND EXCEPT FOR CLAIMS MADE BY THIRD PARTIES WHICH SHALL NOT BE LIMITED BY THIS SECTION, THE PARTIES AGREE THAT THE RECOVERY BY ANY PARTY, INCLUDING, PURSUANT TO ARTICLE III, OF ANY LIABILITIES, DAMAGES, COSTS OR OTHER EXPENSES (i) AS A RESULT OF ANY BREACH OR NONFULFILLMENT BY A PARTY OF ANY OF ITS COVENANTS, AGREEMENTS OR OTHER OBLIGATIONS UNDER THIS AGREEMENT OR (ii) BY REASON OF OR ARISING OUT OF ANY OF THE EVENTS, CONDITIONS OR OTHER MATTERS LISTED IN SECTIONS 3.2 OR 3.4 WHICH THE PARTIES HAVE AGREED TO INDEMNIFY THE OTHER PARTY AGAINST, SHALL BE LIMITED TO ACTUAL DAMAGES AND SHALL NOT INCLUDE OR APPLY TO, NOR SHALL ANY PARTY BE ENTITLED TO RECOVER, ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES (INCLUDING, ANY DAMAGES ON ACCOUNT OF LOST PROFITS OR OPPORTUNITIES OR BUSINESS INTERRUPTION OR DIMINUTION IN VALUE) SUFFERED OR INCURRED BY ANY PARTY; PROVIDED, HOWEVER, THAT SUCH RESTRICTION AND LIMITATION SHALL NOT APPLY TO A PARTY’S OBLIGATION TO INDEMNIFY THE OTHER PARTY: 

(X) AS A RESULT OF A THIRD PARTY CLAIM FOR SUCH INDIRECT, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES, 

(Y) FOR CLAIMS THAT ARE COVERED BY INSURANCE AND ANY RELATED DEDUCTIBLES, OR

 (Z) FOR INDIRECT, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES (INCLUDING LIABILITIES ON ACCOUNT OF LOST PROFITS OR OPPORTUNITIES OR BUSINESS INTERRUPTION OR DIMINUTION IN VALUE) THAT ARE A RESULT OF SUCH INDEMNIFYING PARTY’S OR ITS AFFILIATES’ GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.  

As used in this Section 10.11, “Affiliates” of the Indemnifying Party shall not include the HEP Group Members when a HFC Entity is the Indemnifying Party and shall not include the HFC Group Members when the Indemnifying Party is a HEP Entity.

10.12    Nature of the Relationship.  Notwithstanding the foregoing, nothing in this Agreement and no actions taken by the Parties shall constitute a partnership, joint venture, association or other co-operative entity among the Parties or authorize either Party to represent or contract on behalf of the other Party.  

[Remainder of Page Intentionally Left Blank]
IN WITNESS WHEREOF, the Parties have executed this Agreement to be effective as of the Effective Date.
HFC ENTITIES:
HOLLYFRONTIER CORPORATION
HOLLYFRONTIER EL DORADO REFINING LLC
HOLLYFRONTIER CHEYENNE REFINING LLC
HOLLYFRONTIER WOODS CROSS REFINING LLC 
HOLLYFRONTIER TULSA REFINING LLC
NAVAJO PIPELINE CO., L.P.
HOLLYFRONTIER NAVAJO REFINING LLC
EL PASO OPERATING LLC
HOLLYFRONTIER TRANSPORTATION LLC

 
By:  /s/ George J. Damiris             
Name:    George J. Damiris
Title:     Chief Executive Officer and President

    
HEP ENTITIES:
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/ Richard L. Voliva III    
Name:     Richard L. Voliva III
Title:     Executive Vice President and Chief Financial Officer
    
HEP LOGISTICS HOLDINGS, L.P.

By:    Holly Logistic Services, L.L.C,
Its General Partner

    
By:    /s/ Richard L. Voliva III        
Name:     Richard L. Voliva III
		
	Title: 
	Executive Vice President and Chief Financial Officer

CHEYENNE LOGISTICS LLC
EL DORADO LOGISTICS LLC
EL DORADO OPERATING LLC
EL DORADO OSAGE LLC
FRONTIER ASPEN LLC
HEP EL DORADO LLC
HEP LOGISTICS GP, L.L.C.
HEP MOUNTAIN HOME, L.L.C.
HEP PIPELINE ASSETS, LIMITED PARTNERSHIP
HEP PIPELINE GP, L.L.C.
HEP PIPELINE, L.L.C.
HEP REFINING ASSETS, L.P.
HEP REFINING GP, L.L.C.
HEP REFINING, L.L.C.
HEP TULSA LLC
HEP UNEV HOLDINGS LLC
HEP UNEV PIPELINE LLC
HEP WOODS CROSS, L.L.C.
HOLLY ENERGY PARTNERS – OPERATING, L.P.
HOLLY ENERGY STORAGE – LOVINGTON LLC 
HOLLY LOGISTIC SERVICES, L.L.C.
LOVINGTON-ARTESIA, L.L.C.
NWNAL LLC
ROADRUNNER PIPELINE, L.L.C.
SLC PIPELINE LLC
WOODS CROSS OPERATING LLC

By:    /s/ Richard L. Voliva III    
Name:     Richard L. Voliva III
		
	Title: 
	Executive Vice President and Chief Financial Officer

HEP NAVAJO SOUTHERN, L.P.

By:    HEP Pipeline GP, L.L.C.
Its General Partner

By:    /s/ Richard L. Voliva III    
Name:     Richard L. Voliva III
Title:     Executive Vice President and Chief Financial Officer

    
Exhibit A
to
Eighteenth Amended and Restated Omnibus Agreement

Omnibus Agreement Amendments

	
			
	Agreement
	Effective Date
	Reason for Amendment

	Original Omnibus Agreement
	July 13, 2004
	n/a

	First Amended and Restated Omnibus Agreement
	June 1, 2009
	16” Lovington/Artesia Intermediate Pipeline Purchase Agreement

	Second Amended and Restated Omnibus Agreement
	August 1, 2009
	Tulsa West (Sunoco) Asset Purchase Agreement

	Third Amended and Restated Omnibus Agreement
	October 19, 2009
	(i) Tulsa East (Sinclair) Purchase Agreement
(ii) Beeson Pipeline Purchase Agreement, and 
(iii) Roadrunner Pipeline Purchase Agreement

	Fourth Amended and Restated Omnibus Agreement
	March 31, 2010
	LLC Interest Purchase Agreement for certain Tulsa East Assets

	Fifth Amended and Restated Omnibus Agreement
	August 31, 2011
	Tulsa Throughput Agreement

	Sixth Amended and Restated Omnibus Agreement
	November 1, 2011
	LLC Interest Purchase Agreement for Cheyenne Assets and El Dorado Assets

	Seventh Amended and Restated Omnibus Agreement
	July 12, 2012
	UNEV LLC Interest Purchase Agreement

	Eighth Amended and Restated Omnibus Agreement
	June 1, 2013
	Malaga Throughput Agreement

	Ninth Amended and Restated Omnibus Agreement
	January 7, 2014
	Amended and Restated El Dorado Throughput Agreement for the El Dorado New Tank No. 647

	Tenth Amended and Restated Omnibus Agreement
	September 26, 2014
	Amended and Restated Malaga Throughput Agreement

	Eleventh Amended and Restated Omnibus Agreement
	January 1, 2015
	Unloading and Blending Services Agreement (Artesia) and Third Amended and Restated Crude Pipelines and Tankage Agreement (Beeson to Lovington System Expansion)

	Twelfth Amended and Restated Omnibus Agreement
	January 1, 2015
	Artesia Rail Yard Facility, El Dorado Terminal and Cheyenne New Tank No. 117

	Thirteenth Amended and Restated Omnibus Agreement
	November 2, 2015
	LLC Interest Purchase Agreement for the membership interest of El Dorado Operating

	Fourteenth Amended and Restated Omnibus Agreement
	February 22, 2016
	LLC Interest Purchase Agreement for the Osage Membership Interest

	Fifteenth Amended and Restated Omnibus Agreement
	March 31, 2016
	Tulsa West Crude Tank Assets and Tulsa New Tanks

	Sixteenth Amended and Restated Omnibus Agreement
	October 1, 2016
	LLC Interest Purchase Agreement for the membership interest of Woods Cross Operating

	Seventeenth Amended and Restated Omnibus Agreement
	January 1, 2017
	El Dorado Repurchased Tanks

Exhibit B
to
Eighteenth Amended and Restated Omnibus Agreement

Definitions

“8” and 10” Lovington/Artesia Intermediate Pipelines” means the 8-inch pipeline and the 10-inch pipeline, each running from Lovington, New Mexico to Artesia, New Mexico and owned by HEP Pipeline.
“16” Lovington/Artesia Intermediate Pipeline” means the 16-inch pipeline running from Lovington, New Mexico to Artesia, New Mexico, owned by Lovington-Artesia, L.L.C.
“16” Lovington/Artesia Intermediate Pipeline Purchase Agreement” means that certain LLC Interest Purchase Agreement dated as of June 1, 2009, by and among HFC, Navajo Pipeline and the Operating Partnership, pursuant to which Navajo Pipeline transferred and conveyed to the Operating Partnership, and the Operating Partnership acquired, all of the limited liability company interests of Lovington-Artesia, L.L.C., the entity that owns the 16” Lovington/Artesia Intermediate Pipeline.
“2004 Product Pipelines, Terminal and Related Assets” means the assets transferred under the July 13, 2004 Contribution, Conveyance and Assumption Agreement at the time of HEP’s initial public offering.
“2008 Crude Pipelines, Tanks and Related Assets” means the Drop-Down Assets as defined in the Purchase and Sale Agreement, dated February 25, 2008, by and among HFC, Navajo Pipeline, Woods Cross Refining Company, L.L.C., a Delaware limited liability company, and HollyFrontier Navajo, as the seller parties, and HEP, the Operating Partnership, HEP Woods Cross, L.L.C., a Delaware limited liability company, and HEP Pipeline, as the buyer parties.
“2008 Tanks” means the Transferred Tanks included in the 2008 Crude Pipelines, Tanks and Related Assets.
“Acquisition Proposal” is defined in Section 5.2(a).
“Additional Lovington Assets” means the Transferred Lovington Assets as defined in the March 2010 Drop Down LLC Interest Purchase Agreement.
“Additional Tulsa East Assets” means the Transferred Tulsa East Assets as defined in the March 2010 Drop Down LLC Interest Purchase Agreement.
“Administrative Fee” is defined in Section 4.1(a).
“Affiliate” means, with respect to any Person, any other Person that directly or indirectly through one or more intermediaries controls, is controlled by or is under common control with, the Person in question. As used herein, the term “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise.
“Agreement” is defined in the introduction to this Agreement.
“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 by 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, all of the terms and provisions of the common law of such Governmental Authority), as interpreted and enforced at the time in question.
“Arbitrable Dispute” means any and all disputes, Claims, controversies and other matters in question between any of the HEP Entities, on the one hand, and any of the HFC Entities, on the other hand, arising out of or relating to this Agreement, the Master Agreements, or the Services and Secondment Agreement, or the alleged breach hereof and thereof, or in any way relating to the subject matter of this Agreement, the Master Agreements, or the Services and Secondment Agreement, regardless of whether (a) allegedly extra-contractual in nature, (b) sounding in contract, tort or otherwise, (c) provided for by Applicable Law or otherwise or (d) seeking damages or any other relief, whether at law, in equity or otherwise.
“Artesia Blending Facility” means the two tanks and related equipment for the unloading and blending of ethanol and biodiesel at the refined product truck rack located at the refinery owned by HollyFrontier Navajo in Artesia, New Mexico.
“Artesia Rail Yard Facility” means (a) the railroad track siding consisting of approximately 8,300 track feet of siding (rail storage) and two mainline switches and three industry switches located on certain land leased by HFRM from the Operating Partnership pursuant to that certain Track Lease Agreement effective as of November 1, 2014 by and between HEP Refining and HFRM, pursuant to which HEP Refining agreed to lease to HFRM, and HFRM agreed to lease from HEP Refining, the Artesia Rail Yard Facility, and (b) HEP Refining’s leasehold interest, as tenant, under the BNSF Lease (New Mexico), and (c) HEP Refining’s leasehold interest, as landlord, under that certain Sublease Agreement effective as of November 1, 2014 by and between HEP Refining and HFRM, pursuant to which HEP Refining agreed to sublease to HFRM, and HFRM agreed to sublease from HEP Refining, the BNSF Land (New Mexico).

“Assets” means the Transferred Assets and the Other Assets, collectively.

“Beeson Pipeline” means the 8” crude oil pipeline extending from Beeson station to Lovington, New Mexico, owned by HEP Pipeline.
“Beeson Pipeline Purchase Agreement” means that certain Asset Purchase Agreement dated as of December 1, 2009, by and among HFC, Navajo Pipeline and HEP Pipeline, pursuant to which Navajo Pipeline agreed to transfer and convey to HEP Pipeline, and HEP Pipeline agreed to acquire, the Beeson Pipeline.
“Beeson to Lovington System Expansion” means the following project undertaken by HEP Pipeline: the installation of a larger pump at the Beeson station and the replacement of five miles of existing 8-inch pipeline with 10-inch pipeline beginning at the Beeson station end of the Beeson Pipeline.
“BNSF Land (New Mexico)” means the land located in Eddy County, New Mexico leased to HEP Refining pursuant to the BNSF Lease (New Mexico).

“BNSF Lease (New Mexico)” means that certain Lease of Land Including New Track Construction dated to be effective as of February 14, 2014, pursuant to which HEP Reining agreed to lease from BNSF Railway Company the BNSF Land (New Mexico).
“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.
“Change of Control” means, with respect to any Person (the “Applicable Person”), any of the following events: 
(a)     any sale, lease, exchange, or other transfer (in one transaction or a series of related transactions) of all or substantially all of the Applicable Person’s assets to any other Person unless immediately following such sale, lease, exchange, or other transfer such assets are owned, directly or indirectly, by the Applicable Person;
 (b)     the consolidation or merger of the Applicable Person with or into another Person pursuant to a transaction in which the outstanding Voting Securities of the Applicable Person are changed into or exchanged for cash, securities, or other property, other than any such transaction where 
(i)     the outstanding Voting Securities of the Applicable Person are changed into or exchanged for Voting Securities of a surviving Person or its parent and 
(ii)     the holders of the Voting Securities of the Applicable Person immediately prior to such transaction own, directly or indirectly, not less than a majority of the Voting Securities of the surviving Person or its parent immediately after such transaction; and 
(c)     a “person” or “group” (within the meaning of Sections 13(d) or 14(d)(2) of the Securities Exchange Act of 1934, as amended) (in the case of HFC, other than a group consisting of some of all of the current control persons of HFC), being or becoming the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, as amended) of more than 50% of all of the then outstanding Voting Securities of the Applicable Person, except in a merger or consolidation that would not constitute a Change of Control under clause (b) above.
“Cheyenne Assets” is defined in the November 2011 Frontier Drop Down LLC Interest Purchase Agreement.
 “Cheyenne Logistics” is defined in the introduction to this Agreement.
“Cheyenne New Tank” means petroleum storage tank no. 117 located at the Cheyenne Refinery Complex.

“Claim” means any existing or threatened future claim, demand, suit, judgment, settlement, action, investigation, proceeding, governmental action, cause of action, claims, demands, causes of action, suits, judgments, settlements, fines, penalties, costs, and expenses (including court costs and reasonable attorneys’ and experts’ fees) 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 of any and every kind or character, known or unknown, fixed, contingent or suffered. 

“Claimant” is defined in Section 8.2(a).
“Closing Date” means 
(a)     for all sections other than Articles III and VII, July 13, 2004, the date of the closing of HEP’s initial public offering, and 
(b)     for purposes of Articles III and VII, Closing Date means, with respect to a group of assets, the effective date of the purchase of such assets or the stock, partnership interests or membership interests of the entity that directly or indirectly owns such assets, by a HEP Entity (such Closing Date being shown in Exhibit D, column (a)).
“Contribution Agreement” means that certain Contribution, Conveyance and Assumption Agreement, dated as of July 13, 2004, among HFC, Navajo Pipeline, the General Partner, HEP, the OLP GP, the Operating Partnership and certain other parties, together with the additional conveyance documents and instruments contemplated or referenced thereunder.
“control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract, or otherwise.
“Covered Environmental Losses” means Environmental Claims to the extent arising from: 
		
	(a)
	any violation or correction of violation of Environmental Laws associated with the ownership or operation of the Assets, or

		
	(b)
	any event or condition associated with ownership or operation of the Assets (including, the presence of Hazardous Substances on, under, about or migrating from the Assets or the disposal or release of Hazardous Substances generated by operation of the Assets at any non-Asset locations), including:

		
	(i)  
	the cost and expense of any investigation, assessment, evaluation, monitoring, containment, cleanup, repair, restoration, remediation, or other corrective action required or necessary under Environmental Laws; 

		
	(ii)
	the cost or expense of the preparation and implementation of any closure, remedial, corrective action, or other plans required or necessary under Environmental Laws; and

		
	(iii)
	the cost and expense for any environmental or Toxic Tort pre-trial, trial, or appellate legal or litigation support work.

“Disposition Notice” is defined in Section 5.2(a).
“Effective Date” is defined in the introduction to this Agreement.
“El Dorado Assets” is defined in the November 2011 Frontier Drop Down LLC Interest Purchase Agreement.
“El Dorado Logistics” is defined in the introduction to this Agreement.
 “El Dorado New Tank” means petroleum products storage tanks no. 647 and no. 651 located at the El Dorado Refinery Complex. 
“El Dorado Operating” is defined in the introduction to this Agreement.
“El Dorado Osage” is defined in the introduction to this Agreement.
“El Dorado Refinery Assets” means “Assets” as defined in that certain LLC Interest Purchase Agreement dated as of October 30, 2015 and effective as of November 1, 2015 by and among HollyFrontier El Dorado, HFC and the Operating Partnership, pursuant to which HollyFrontier El Dorado agreed sell to the Operating Partnership all of the issued and outstanding limited liability company interests in El Dorado Operating.
“El Dorado Repurchased Tanks” means tank 243 and tank 244 located at the El Dorado Terminal that were repurchased by HollyFrontier El Dorado from El Dorado Logistics effective January 1, 2017.
“El Dorado Terminal” means that certain petroleum products tank farm located in El Dorado Kansas, and more particularly described in that certain Membership Interest Purchase Agreement dated as of March 6, 2015 by and between El Dorado Logistics and Rimrock Midstream, LLC, as such terminal may be modified, expanded or upgraded from time to time.
“El Paso Hawkins Terminal” means the El Paso Hawkins Terminal as defined in that certain Refined Products Terminal Transfer Agreement effective as of February 22, 2016 between HEP Refining Assets and El Paso Operating, pursuant to which El Paso Operating acquired the El Paso Hawkins Terminal.
“El Paso Operating” is defined in the introduction to this Agreement.
“Environmental Claims” means environmental and Toxic Tort Liabilities and Claims of any and every kind or character, known or unknown, fixed or contingent.
“Environmental Costs” means (i) the cost and expense of any investigation, assessment, evaluation, monitoring, containment, cleanup, repair, restoration, remediation, or other corrective action required or necessary under Environmental Laws, (ii) the cost or expense of the preparation and implementation of any closure, remedial, corrective action, or other plans required or necessary under Environmental Laws, and (iii) the cost and expense for any Environmental Claim, including pre-trial, trial, or appellate legal or litigation support work.
“Environmental Laws” means all federal, state and local laws, statutes, rules, regulations, orders and ordinances, now or hereafter in effect, relating to protection of the environment, including the federal Comprehensive Environmental Response, Compensation, and Liability Act, the Superfund Amendments Reauthorization Act, the Resource Conservation and Recovery Act, the Clean Air Act, the Federal Water Pollution Control Act, the Toxic Substances Control Act, the Oil Pollution Act, the Safe Drinking Water Act, the Hazardous Materials Transportation Act, and other environmental conservation and protection laws, each as amended from time to time.
“First ROFR Acceptance Deadline” is defined in Section 5.2(b). 
“Force Majeure” means acts of God, strikes, lockouts or other industrial disturbances, acts of the public enemy, wars (whether or not an official declaration is made thereof), terrorist attacks, blockades, insurrections, riots, epidemics, landslides, lightening, earthquakes, fires, hurricanes, storms, floods, washouts, freezeoffs, arrests, the order of any Governmental Authority having jurisdiction while the same is in force and effect, civil disturbances, explosions, breakage, accident to machinery, equipment, storage tanks or lines of pipe, repairs, maintenance, inability to obtain or unavoidable delay in obtaining permits, material or equipment, and any other causes whether of the kind herein enumerated or otherwise not reasonably within the control of the Party claiming suspension and which by the exercise of due diligence such Party is unable to prevent or overcome. Notwithstanding anything in this Agreement to the contrary, inability of a Party to make payments when due, be profitable or to secure funds, arrange bank loans or other financing, obtain credit or have adequate capacity or production (other than for reasons of Force Majeure) shall not be regarded as events of Force Majeure.
“Frontier Aspen Pipeline” means the Frontier Aspen Pipeline as defined in the Frontier Aspen Membership Purchase Agreement.
“Frontier Aspen Membership Purchase Agreement” means that certain Membership Interest Purchase Agreement dated effective August 7, 2017 between Plains Pipeline, L.P. and HEP Casper SLC, LLC.
“General Partner” is defined in the introduction to this Agreement.
“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.
“Hazardous Substance” means (a) any substance that is designated, defined or classified as a hazardous waste, hazardous material, pollutant, contaminant, or toxic or hazardous substance, or that is otherwise regulated under any Environmental Law, including, any hazardous substance as defined under the Comprehensive Environmental Response, Compensation, and Liability Act, and (b) petroleum, crude oil, gasoline, natural gas, fuel oil, motor oil, waste oil, diesel fuel, jet fuel and other refined petroleum hydrocarbons.
“HEP” is defined in the introduction to this Agreement. 
“HEP El Dorado” is defined in the introduction to this Agreement.
“HEP Entities” is defined in the introduction to this Agreement.
“HEP Entity” means any of the HEP Entities.
“HEP Group” means the HEP Entities and any Subsidiary of any such Person, all of which are treated as a single consolidated entity for purposes of this Agreement.
“HEP Group Member” means any member of the HEP Group.
“HEP Pipeline” is defined in the introduction to this Agreement.
“HEP Refining” is defined in the introduction to this Agreement.
“HEP Refining Assets” is defined in the introduction to this Agreement.
“HEP Tulsa” is defined in the introduction to this Agreement.
“HEP UNEV” is defined in the introduction to this Agreement.
“HEP UNEV Pipeline” is defined in the introduction to this Agreement.
“HFC” is defined in the introduction to this Agreement.
“HFC Group” means the HFC Entities and any Person controlled, directly or indirectly, by HFC other than the HEP Entities. 
“HFC Group Member” means any member of the HFC Group.
“HFRM” is defined in the introduction to this Agreement.  
“HollyFrontier Cheyenne” is defined in the introduction to this Agreement.
“HollyFrontier El Dorado” is defined in the introduction to this Agreement.
“HollyFrontier Navajo” is defined in the introduction to this Agreement.
“HollyFrontier Transportation” is defined in the introduction of this Agreement.
“HollyFrontier Tulsa” is defined in the introduction to this Agreement.
“HollyFrontier Woods Cross” is defined in the introduction to this Agreement.
“Holly GP” is defined in the introduction to this Agreement.
“Indemnified Claims” means losses, damages, liabilities, Claims, demands, causes of action, judgments, settlements, fines, penalties, costs, and expenses (including, court costs and reasonable attorney's and expert's fees) of any and every kind or character.
“Indemnified Party” means all or part of either the HEP Entities or the HFC Entities, as the case may be, in their capacity as the parties entitled to indemnification in accordance with Article III.
“Indemnifying Party” means all or part of either the HEP Entities or the HFC Entities, as the case may be, in their capacity as the parties from whom indemnification may be required in accordance with Article III.
“Initial Tank Inspections” is defined in Section 7.1.
“Initial Tank Inspection Period” is defined in Section 7.1
“Liability” means with respect to any Person, any economic losses (including, diminution in value and lost profits suffered by third parties to the extent an Indemnified Party is required to pay for such damages), damages, injuries (including, personal injury and death), liabilities, of any and every kind or character, known or unknown, fixed, contingent or suffered.
“Limited Partner” is defined in the Partnership Agreement.  
“Malaga Pipeline System” means the Pipeline System, as such term is defined in the Malaga TSA.
“Malaga TSA” means that certain Amended and Restated Transportation Services Agreement (Malaga) dated as of September 26, 2014 by and between HFRM and Operating Partnership, pursuant to which Operating Partnership provides certain transportation services for HFRM on the Malaga Pipeline System, as such agreement may be amended, modified or replaced from time to time. 
“March 2010 Drop Down LLC Interest Purchase Agreement” means that certain LLC Interest Purchase Agreement dated as of March 31, 2010, by and among HFC, Lea Refining Company, HollyFrontier Tulsa, HEP Refining and HEP Tulsa, pursuant to which HFC, Lea Refining Company and HollyFrontier Tulsa agreed to transfer and convey to HEP Refining and HEP Tulsa the Additional Tulsa East Assets and the Additional Lovington Assets.
“Master Agreements” means the Master Lease and Access Agreement, Master Site Services Agreement, Master Systems Operating Agreement, Master Throughput Agreement and Master Tolling Agreements.
“Master Lease and Access Agreement” means that certain Fourth Amended and Restated Master Lease and Access Agreement dated effective as of January 1, 2017 among certain of the HEP Entities and the Refinery Owners.
“Master Site Services Agreement” means that certain Third Amended and Restated Master Site Services Agreement dated effective as of October 1, 2016, as amended, among certain of the HEP Entities and the Refinery Owners.
“Master Systems Operating Agreement” means that certain Amended and Restated Master Systems Operating Agreement dated as of February 22, 2016 among certain of the HEP Entities and the Refinery Owners.
“Master Throughput Agreement” means that certain Third Amended and Restated Master Throughput Agreement effective as of January 1, 2017 between the Operating Partnership and HFRM.
“Master Tolling Agreements” means that certain Master Tolling Agreement (Refinery Assets) dated effective as of November 1, 2015, as amended dated effective as of January 1, 2017, between HollyFrontier El Dorado and the Operating Partnership, and that certain Amended and Restated Master Tolling Agreement (Operating Assets) dated effective as of October 1, 2016, as amended dated effective as of January 18, 2017, between HollyFrontier El Dorado, HollyFrontier Woods Cross and the Operating Partnership.
“Navajo Pipeline” is defined in the introduction to this Agreement.
“Net Recovery” is defined in Section 3.7(f).
“NWNAL Assets” means those assets described in Section 8(a)(i)(2) of the SLC Pipeline Membership Purchase Agreement.
“North Loco Tanks” means the Facilities as defined in that certain Conveyance, Assignment and Bill of Sale (Tanks 1075, 1076 and 1077) effective as of December 8, 2017 by and between HollyFrontier Transportation and HEP Pipeline.
“November 2011 Frontier Drop Down LLC Interest Purchase Agreement” means that certain LLC Interest Purchase Agreement effective as of November 1, 2011, by and among HFC, HollyFrontier Cheyenne, HollyFrontier El Dorado, the Operating Partnership and HEP, pursuant to which HollyFrontier Cheyenne and HollyFrontier El Dorado agreed sell to the Operating Partnership the entities that own the Cheyenne Assets and the El Dorado Assets.
“Offer” is defined in Section 2.4(a)
“Offer Price” is defined in Section 5.2(a)(iii).
“OLP GP” is defined in the introduction to this Agreement.
“Operating Partnership” is defined in the introduction to this Agreement.
“Original Omnibus Agreement” is defined in the recitals to this Agreement.
“Osage” means Osage Pipe Line Company, LLC, a Delaware limited liability company.
“Osage Membership Interest” means a fifty percent (50%) limited liability company membership interest in Osage.
“Other Assets” means those assets owned by a HEP Entity that serve the Refineries and were not conveyed, contributed, or otherwise transferred, directly or indirectly by the HFC Entities to the HEP Entities, as indicated in column (a) of Exhibit D, Part 2; provided, that for the purposes of Section 3.2, Other Assets shall not include that certain 8” pipeline extending 50 miles from the White City Station that was formerly used as a refined products pipeline and that was conveyed to the HEP Entities as part of the 2004 Product Pipelines, Terminal and Related Assets.  
“Partnership Agreement” means the Second Amended and Restated Agreement of Limited Partnership of Holly Energy Partners, L.P. dated as of October 31, 2017.  No amendment or modification to the Partnership Agreement subsequent to the date of this Agreement shall be given effect for the purposes of this Agreement unless consented to by each of the Parties.
“Party” means any one of the entities listed on the signature page to this Agreement, collectively the “Parties”.
“Permitted Assets” is defined in Section 2.2(d).
“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.
“Post-Closing Covered Environmental Losses” means, to the extent such violation, event or condition occurred after the Closing Date: 
		
	(a)
	any violation or correction of violation of Environmental Laws associated with the operation of the Transferred Assets by a Person other than a HFC Entity or ownership and operation of the Transferred Assets by a Person other than a HFC Entity, or

		
	(b)
	any event or condition associated with the ownership and/or operation of the Transferred Assets by a Person other than a HFC Entity (including the presence of Hazardous Substances on, under, about or migrating to or from the Transferred Assets or the disposal or release of Hazardous Substances generated by operation of the Transferred Assets) including, the Environmental Costs; 

provided, however, that nothing stated above shall make the HEP Entities responsible for any post-Closing Date negligent actions or omissions or willful misconduct by any of the HFC Entities.  
“PPI” means the Producers Price Index-Commodities-Finished Goods, (PPI), et al.
“PPI Adjustment” means the upper change in the annual change rounded to four decimal places of the PPI, produced by the U.S. Department of Labor, Bureaus of Labor Statistics.  The series ID is WPUFD49207 – 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 2014 change is: PPI (2013) – PPI (2012)] / PPI (2012) or (197.3 – 193.3) / 193.3 or .021 or 2.1%.  If the PPI change is negative in a given year then there will be no change in the Administrative Fee.
“Pre-Closing Covered Environmental Losses” means, to the extent such violation, event or condition occurred before the Closing Date: 
		
	(a)
	any violation or correction of violation of Environmental Laws associated with the ownership or operation of the Transferred Assets by a Person other than a HEP Entity or ownership and operation of the Transferred Assets by a Person other than a HEP Entity, or

		
	(b)
	any event or condition associated with ownership and/or operation of the Transferred Assets by a Person other than a HEP Entity (including, the presence of Hazardous Substances on, under, about or migrating to or from the Transferred Assets or the disposal or release of Hazardous Substances generated by operation of the Transferred Assets), including, the Environmental Costs.

provided, however, that nothing stated above shall make the HFC Entities responsible for any pre-Closing Date negligent actions omissions or willful misconduct by any of the HEP Entities.  
“Previous Amended and Restated Omnibus Agreement” is defined in the introduction to this Agreement.
“Proposed Transferee” is defined in Section 5.2(a)(i).
“Prudent Industry Practice” means such practices, methods, acts, techniques, and standards as are in effect at the time in question that are consistent with (a) the standards generally followed by the United States pipeline and terminalling industries or (b) such higher standards as may be applied or followed by the HFC Entities in the performance of similar tasks or projects, or by the HEP Entities in the performance of similar tasks or projects.
“Purchase Option Agreement” has the meaning set forth in the Asset Purchase Agreement, dated August 1, 2009, between HollyFrontier Tulsa, as the seller, and HEP Tulsa, as the buyer.  
“Refinery” or “Refineries” means each of the Refinery Complexes identified in the Master Lease and Access Agreement.
“Refinery Owners” means each of the HFC Entities that own one or more of the Refineries.
 “Respondent” is defined in Section 8.2(a).
“Restricted Business” or “Restricted Businesses” means the ownership or operation of crude oil pipelines or terminals, intermediate petroleum product pipelines or terminals, refined petroleum products pipelines, terminals, truck racks or crude oil gathering systems in the continental United States.  
“Retained Assets” means the pipelines, terminals and other assets and investments owned by any HFC Group Member on the date of the Contribution Agreement that were not conveyed, contributed or otherwise transferred to the HEP Entities pursuant to the Contribution Agreement or otherwise.  
“Roadrunner” is defined in the introduction to this Agreement.
“Roadrunner Pipeline” means 16” crude oil pipeline extending from Slaughter station in Texas to Lovington, New Mexico owned by Roadrunner.
“Roadrunner Pipeline Purchase Agreement” means that certain LLC Interest Purchase Agreement dated as of December 1, 2009 by and among Navajo Pipeline and the Operating Partnership, pursuant to which the Operating Partnership acquired, all of the outstanding limited liability company interests of Roadrunner, the entity that owns the Roadrunner Pipeline.
“ROFR Acceptance Deadline” means the First ROFR Acceptance Deadline or the Second ROFR Acceptance Deadline, as applicable, both as defined in Section 5.2(b) and (c).
“Sale Assets” is defined in Section 5.2(a)(ii).
“Second ROFR Acceptance Deadline” is defined in Section 5.2(c).
“Services and Secondment Agreement” means that certain Third Amended and Restated Services and Secondment Agreement dated effective as of October 1, 2016, by and among Holly GP, the Operating Partnership, Cheyenne Logistics, El Dorado Logistics, El Dorado Operating, HEP Tulsa, Woods Cross Operating, HollyFrontier Payroll Services, Inc., a Delaware corporation, HollyFrontier Cheyenne, HollyFrontier El Dorado, HollyFrontier Tulsa and HollyFrontier Woods Cross.
“Sinclair” means Sinclair Tulsa Refining Company.
“Sinclair Purchase Agreement” means that certain Asset Sale and Purchase Agreement dated as of October 19, 2009, by and among HollyFrontier Tulsa, HEP Tulsa and Sinclair, pursuant to which HEP Tulsa acquired the Sinclair Transferred Assets.
“Sinclair Transferred Assets” means the HEP Tulsa Assets as defined in the Sinclair Purchase Agreement.
“SLC Pipeline” means the SLC Pipeline as defined in the SLC Pipeline Membership Interest Purchase Agreement.
“SLC Pipeline Membership Purchase Agreement” means that certain Membership Interest Purchase Agreement dated effective August 7, 2017, between Rocky Mountain Pipeline System LLC and HEP SLC, LLC.
“Storage and Handling Agreement” means that certain Storage and Handling Agreement dated February 21, 1997, between the Operating Partnership and Alon U.S.A., L.P., as amended effective January 1, 2004, September 1, 2008 and March 1, 2011.
“Third Party” means a Person which is not (a) HEP or an Affiliate of HEP, (b) HFC or an affiliate of HFC, (c) a Person that, after the signing of this Agreement becomes a successor entity of HEP, HFC or any of their respective Affiliates.  An employee of HFC or HEP shall not be deemed an Affiliate.
“Toxic Tort” means a Claim or cause of action arising from personal injury or property damage incurred by the plaintiff that is alleged to have been caused by exposure to, or contamination by, Hazardous Substances that have been released into the environment by or as a result of the actions or omissions of the defendant.
“Transfer” including the correlative terms “Transferring” or “Transferred” means any direct or indirect transfer, assignment, sale, gift, pledge, hypothecation or other encumbrance, or any other disposition (whether voluntary, involuntary or by operation of law) of the Assets.
“Transferred Assets” means all of the assets conveyed, contributed, or otherwise transferred, directly or indirectly (including by transfer or sale of the entity that owns such assets or the entity that owns the interests in the entity that owns such assets) that serve the Refineries, by the HFC Entities to the HEP Entities, as indicated in column (a) of Exhibit D, Part 1; provided that for the purposes of Section 3.2, the term “Transferred Assets” shall include (a) that certain 8” pipeline extending 50 miles from the White City Station that was formerly used as a refined products pipeline and that was conveyed to the HEP Entities as part of the 2004 Product Pipelines, Terminal and Related Assets, and (b) the Tulsa West Crude Tank Assets.  
“Transferred Tanks” means the tanks included in the Assets, as indicated in column (h) of Exhibit D, provided however that from and after January 1, 2017, such tanks shall not include the El Dorado Repurchased Tanks.
“Tulsa Interconnecting Pipelines” means the Interconnecting Pipelines as defined in the Tulsa Throughput Agreement.
“Tulsa New Tanks” means petroleum products storage tank nos. 45 and 444A located at the Tulsa Refinery Complex.
“Tulsa Purchase Agreement” means that certain Asset Purchase Agreement dated as of August 1, 2009, by and between HollyFrontier Tulsa and HEP Tulsa, pursuant to which HollyFrontier Tulsa transferred and conveyed to HEP Tulsa, and HEP Tulsa acquired, the Tulsa Transferred Assets.  
“Tulsa Throughput Agreement” means that certain Second Amended and Restated Pipelines, Tankage and Loading Rack Throughput Agreement (Tulsa East), dated as of August 31, 2011, pursuant to which HEP Tulsa agreed to provide transportation services to HollyFrontier Tulsa with respect to the Tulsa Interconnecting Pipelines.
“Tulsa Transferred Assets” means the Transferred Assets as defined in the Tulsa Purchase Agreement.
“Tulsa West Crude Tank Assets” means the Leased Property as defined in the Bill of Sale, Assignment and Assumption Agreement dated as of March 31, 2016 between Plains Marketing, L.P. and HEP Tulsa.
“UNEV LLC Interest Purchase Agreement” means that certain LLC Interest Purchase Agreement dated as of July 12, 2012, by and among HFC, HEP UNEV and HEP, pursuant to which HFC agreed to sell to HEP UNEV the entity that owns 75% of all of the issued and outstanding membership interests of UNEV Pipeline, LLC, the entity that owns the UNEV Pipeline.
“UNEV Pipeline” means, collectively, an approximately 400 mile, 12-inch refined products pipeline currently running from Woods Cross, Utah to Las Vegas, Nevada, related products terminals in or near Cedar City, Utah and Las Vegas, Nevada and other related assets owned by UNEV Pipeline, LLC.  
“UNEV Profits Interest” means the membership interest in HEP UNEV held directly or indirectly by HFC.  
“Voting Securities” means securities of any class of a Person entitling the holders thereof to vote on a regular basis in the election of members of the board of directors or other governing body of such Person.

“Wood Cross Operating” is defined in the introduction to this Agreement.

“Woods Cross Refinery Assets” has the meaning ascribed to the term “Assets” in that certain LLC Interest Purchase Agreement dated as of October 3, 2016 and effective as of October 1, 2016 by and among HollyFrontier Woods Cross, HFC and the Operating Partnership, pursuant to which HollyFrontier Woods Cross agreed to sell to the Operating Partnership all of the issued and outstanding limited liability company interests in Woods Cross Operating.

    

Exhibit C
to
Eighteenth Amended and Restated Omnibus 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”, “hereby”, “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 D
to
Eighteenth Amended and Restated Omnibus Agreement

Asset Indemnification Summary

Part 1: Transferred Assets:

	
								
	(a)
	(b)
	(c)
	(d)
	(e)
	(f)
	(g)
	(h)

	TRANSFERRED ASSET AND CLOSING DATE
	HFC ENVIRONMENTAL
(Expiration Date)
	HEP ENVIRONMENTAL
	RIGHT-OF-WAY
	ADDITIONAL INDEMNITIES
	OPERATIONAL
INDEMNITY
	RIGHT OF 
FIRST REFUSAL
	INCLUDES TRANSFERRED TANKS

	 
	Indemnity from HFC to HEP for Pre-Closing Covered Environmental Losses under Section 3.2(a) / Aggregate cap on HFC environmental indemnity in Section 3.1(b)
(expiration date of indemnity)
	Indemnity from HEP to HFC for Post-Closing Covered Environmental Losses under Section 3.4(a)
	Right-of-Way Indemnity under Sections 3.2(a)(iii) and 3.2(a)(iv)
(expiration date of indemnity)
	Additional Indemnities under Section 3.2(a)(vi)   
(expiration date of indemnity)
	Additional Indemnities under Section 3.5
	Right of First Refusal under Article V
	 

	2004 Product Pipelines, Terminal and Related Assets
(July 13, 2004)

	$15,000,000
(July 13, 2014)
	ü
	ü
(July 13, 2014)
	ü
(July 13, 2009)
	ü
	ü
	No

	8” and 10” Lovington/Artesia Intermediate Pipelines
(June 1, 2009)

	$2,500,000 
(June 1, 2019)
	ü
	ü
(June 1, 2019)
	ü
(June 1, 2014)
	ü
	ü
	No

	
								
	(a)
	(b)
	(c)
	(d)
	(e)
	(f)
	(g)
	(h)

	TRANSFERRED ASSET AND CLOSING DATE
	HFC ENVIRONMENTAL
(Expiration Date)
	HEP ENVIRONMENTAL
	RIGHT-OF-WAY
	ADDITIONAL INDEMNITIES
	OPERATIONAL
INDEMNITY
	RIGHT OF 
FIRST REFUSAL
	INCLUDES TRANSFERRED TANKS

	2008 Crude Pipelines, Tanks and Related Assets
(March 1, 2008)

	$7,500,000
(March 1, 2023)
	ü
	ü
(March 1, 2023)
	ü
(March 1, 2013)
	ü
	ü
	Yes

	16” Lovington/Artesia Intermediate Pipeline
(June 1, 2009)

	None
	ü
	ü
(June 1, 2019)

	ü
(June 1, 2014)
	ü
	ü
	No

	Tulsa Transferred Assets 
(August 1, 2009)

	None
	None
	None
	None
	None
	None
	No

	Beeson Pipeline
(December 1, 2009)

	None
	ü
	ü
(December 1, 2019)

	ü
(December 1, 2014)
	ü
	ü
	No

	Roadrunner Pipeline
(December 1, 2009)
	None
	ü
	ü
(December 1, 2019)

	ü
(December 1, 2014)
	ü
	ü
	No

	Additional Lovington Assets
(March 31, 2010)

	$15,000,000
(March 31, 2020)

	ü
	ü
(March 31, 2020)

	ü
(March 31, 2015)
	ü
	ü
	No

	Additional Tulsa East Assets
(March 31, 2010)

	unlimited 
(no expiration)
	None
	None
	None
	None
	ü
	No

	Sinclair Transferred Assets
(October 19, 2009)

	None
	None
	None
	None
	None
	ü
	Yes

	Tulsa Interconnecting Pipelines 
(August 31, 2011)
	None
	ü
	(August 31, 2021)
	(August 31, 2016)
	ü
	ü
	No

	
								
	(a)
	(b)
	(c)
	(d)
	(e)
	(f)
	(g)
	(h)

	TRANSFERRED ASSET AND CLOSING DATE
	HFC ENVIRONMENTAL
(Expiration Date)
	HEP ENVIRONMENTAL
	RIGHT-OF-WAY
	ADDITIONAL INDEMNITIES
	OPERATIONAL
INDEMNITY
	RIGHT OF 
FIRST REFUSAL
	INCLUDES TRANSFERRED TANKS

	Cheyenne Assets
(November 1, 2011)

	$15,000,000
(November 1, 2021)

	ü
	ü
(November 1, 2021)
	ü
(November 1, 2016)
	ü
	ü
	Yes

	El Dorado Assets
(November 1, 2011)
	$15,000,000 
(November 1, 2021)

	ü
	ü
(November 1, 2021)

	ü
(November 1, 2016)
	ü
	ü
	Yes

	UNEV Pipeline
(July 12, 2012)
	None
	ü
	ü
(July 12, 2022)

	ü
(July 12, 2017)
	ü
	None
	No

	El Dorado Refinery Assets
(November 1, 2015)

	$15,000,000
(November 1, 2025)
	ü

	ü
(November 1, 2025)
	ü
(November 1, 2020)
	ü
	ü
	No

	Osage  
(February 22, 2016)

	None
	None
	None
	None
	None

	None
	No

	Tulsa West Crude Tank Assets
(11:59 p.m., March 31, 2016)
	$5,000,000
(11:59 p.m., March 31, 2026)
	ü

	None
	ü
(11:59 p.m., March 31, 2021)
	ü

	ü
	No

	Woods Cross Refinery Assets
October 1, 2016
	$15,000,000
October 1, 2026
	ü
	ü
October 1, 2026
	ü
October 1, 2026
	ü

	ü

	No

	North Loco Tanks
(December 8, 2017)
	None
	None
	None
	None
	None

	ü

	No

Part 2: Other Assets:
	
								
	(a)
	(b)
	(c)
	(d)
	(e)
	(f)
	(g)
	(h)

	OTHER ASSET AND CLOSING DATE
	HFC ENVIRONMENTAL
(Expiration Date)
	HEP ENVIRONMENTAL
	RIGHT-OF-WAY
	ADDITIONAL INDEMNITIES
	OPERATIONAL
INDEMNITY
	RIGHT OF
FIRST REFUSAL
	INCLUDES TRANSFERRED TANKS

	 
	Indemnity from HFC to HEP for Pre-Closing Covered Environmental Losses under Section 3.2(a) / Aggregate cap on HFC environmental indemnity in Section 3.1(b)
(expiration date of indemnity)
	Indemnity from HEP to HFC for Post-Closing Covered Environmental Losses under Section 3.4(a)
	Right-of-Way Indemnity under Sections 3.2(a)(iii) and 3.2(a)(iv)
(expiration date of indemnity)
	Additional Indemnities under Section 3.2(a)(vi)(A)  
(expiration date of indemnity)1
	Additional Indemnities under Section 3.5
	Right of First Refusal under Article V
	 

	Malaga Pipeline System
(July 16, 2013, as amended by that certain Amended and Restated Transportation Services Agreement dated September 26, 2014)

	None
	ü
	None
	None
	ü
	ü
	No

	El Dorado New Tank (Tank 647)
(January 7, 2014)  
	None
	ü
	ü
(January 7, 2024)

	None
	ü
	ü
	No

	Artesia Rail Yard Facility 
(November 1, 2014)
	None
	ü
	None
	None
	ü
	ü
	No

	El Dorado Terminal
(March 6, 2015)
	None
	ü
	None
	None
	ü
	ü
	No

	
								
	(a)
	(b)
	(c)
	(d)
	(e)
	(f)
	(g)
	(h)

	OTHER ASSET AND CLOSING DATE
	HFC ENVIRONMENTAL
(Expiration Date)
	HEP ENVIRONMENTAL
	RIGHT-OF-WAY
	ADDITIONAL INDEMNITIES
	OPERATIONAL
INDEMNITY
	RIGHT OF
FIRST REFUSAL
	INCLUDES TRANSFERRED TANKS

	Beeson to Lovington System Expansion (March 12, 2015)
	None
	ü
	None
	None
	ü
	ü
	No

	Artesia Blending Facility 
(March 12, 2015)
	None
	ü
	ü
(March 12, 2025)
	None
	ü
	ü
	No

	Cheyenne New Tank (Tank 117)
(December 4, 2014)
	None
	ü
	ü
(December 4, 2029)

	None
	ü
	ü
	No

	Tulsa New Tanks 
(Tanks 45 and 444A)
(May 1, 2016)
	None
	ü
	ü
(May 1, 2026)
	None
	ü
	ü
	No

	El Dorado New Tank (Tank 651)
(September 12, 2016)
	None
	ü
	ü
(September 12, 2026)

	None
	ü
	ü
	No

	SLC Pipeline
(October 31, 2017)
	None
	None
	None
	None
	None
	ü
	No

	Frontier Aspen Pipeline
(October 31, 2017)
	None
	None
	None
	None
	None
	ü
	No

	NWNAL Assets
(October 31, 2017)
	None
	None
	None
	None
	None
	ü
	No

Exhibit E
to
Eighteenth Amended and Restated Omnibus Agreement

General and Administrative Services
(1)Executive services
(2)    Finance, including treasury, and administration services
(3)    Information technology services
(4)    Legal services
(5)    Corporate health, safety and environmental services
(6)    Human resources services
(7)    Procurement
(8)    Corporate operations team services
 

E-1Exhibit

                                                
Exhibit 10.52

HOLLYFRONTIER CORPORATION 
 
PERFORMANCE SHARE UNIT AGREEMENT
(Section 162(m) Compliant)
This Performance Share Unit Agreement (the “Agreement”) is made and entered into by and between HollyFrontier Corporation, a Delaware corporation (the “Company”), and you. This Agreement is entered into as of the ___ day of [●], 2017 (the “Date of Grant”).
WITNESSETH:
WHEREAS, the Company has adopted the Plan (as defined below) to attract, retain and motivate employees, directors and consultants; 
WHEREAS, the Compensation Committee (the “Committee”) believes that entering into this Agreement with you is consistent with the stated purposes for which the Plan was adopted; and
WHEREAS, a copy of the Plan has been furnished to you and shall be deemed a part of this Agreement (“Agreement”) as if fully set forth herein and the terms capitalized but not defined herein or on Appendix A attached hereto shall have the meanings set forth in the Plan.
NOW, THEREFORE, in consideration of the services rendered by you, the parties agree as follows:
1.Grant. The Company hereby grants to you as of the Date of Grant a Performance Award of _________ shares of Phantom Stock consisting of performance share units (the “Performance Share Units”), subject to the terms and conditions set forth in this Agreement. Depending on the Company’s performance, you may earn from zero percent (0%) to two hundred percent (200%) of the Performance Share Units, based on the Company’s performance on two measures set forth in Section 3 over a designated performance period compared to the performance of a group of peer companies selected by the Committee.
2.    The Plan.  The Performance Share Units granted to you by this Agreement shall be granted under the HollyFrontier Corporation Long-Term Incentive Compensation Plan (the “Plan”).
3.    Performance Period and Measures. This Section 3 sets forth the details of the Performance Award for the “Performance Period,” which begins on October 1 of the calendar year of the Date of Grant (“Year One”) and ends on September 30 of the third calendar year following Year One (“Year Three”). If you are employed by the Company or one of its Subsidiaries on December 15 of Year Three you will be entitled to a payment in Shares in the amount determined under Section 3(b) or pursuant to Section 4 or 5, as applicable, and payable at the time indicated in Section 6.  The period of time beginning on the Date of Grant and ending on December 15 of Year Three is referred to herein as the “Service Period.”  
(a)    Performance Measures. The number of Performance Share Units earned for the Performance Period is determined by comparing the Company’s performance on the two measures 

1

                                                
Exhibit 10.52

listed below over the Performance Period to the performance of the Peer Group over the Performance Period on the same two measures. The two performance measures are Return on Capital Employed and Total Shareholder Return.
(b)    Shares Payable. The number of Shares payable is equal to the result of multiplying the total number of Performance Share Units awarded by the Performance Unit Payout Percentage. The number of Shares of Common Stock payable will be rounded down to the nearest Share.  No fractional Shares of Common Stock will be issued pursuant to this Agreement.
4.    Termination of Employment.
(a)    In the event that your employment with the Company and its Subsidiaries terminates prior to December 15 of Year Three (i) due to your death, (ii) on account of your total and permanent disability, as determined by the Committee in its sole discretion or (iii) by action of the Company or its Subsidiary other than for Cause, you (or your beneficiary, if applicable) shall forfeit a number of the Performance Share Units equal to the number of Performance Share Units specified in Section 1 hereof times the percentage that (A) the number of days beginning on the day on which the date of such termination occurs and ending on the last day of the Service Period, (B) bears to the total number of days in the Service Period.  In the event of such forfeiture, the number of Shares payable hereunder shall be equal to the result of multiplying the number of remaining Performance Share Units by the Performance Unit Payout Percentage determined as of the end of the Performance Period in accordance with Section 3.  Shares payable pursuant to this Section 4(a) will be paid to you at the time specified in Section 6. Notwithstanding the foregoing, in the event your employment is terminated on account of death or disability, the Committee, in its sole discretion, may elect to make a payment to you pursuant to this Section 4(a) assuming a Performance Unit Payout Percentage of up to two hundred percent (200%) instead of the Performance Unit Payout Percentage that would otherwise be determined at the end of the Performance Period in accordance with Section 3; provided, that if the Committee elects to make such a payment, the amount will be paid to you no later than thirty (30) days following such election.
(b)    If, prior to December 15 of Year Three you voluntarily separate from employment (other than due to your Retirement) or are terminated by the Company or a Subsidiary for Cause, all Performance Share Units awarded hereunder will be forfeited. 
(c)    With respect to the Performance Share Units, the Company or a Subsidiary may, in its sole discretion, determine that if you are on leave of absence for any reason you will be considered to still be in the employ of, or providing services to, the Company and its Subsidiaries, provided that your rights to the Performance Share Units, if any, during a Performance Period in which such a leave of absence occurs will be prorated to reflect the period of time during the Performance Period that you provided actual services to the Company and its Subsidiaries.
5.    Special Involuntary Termination.  In the event your employment with the Company and its Subsidiaries terminates due to a Special Involuntary Termination or your Retirement before December 15 of Year Three you will remain eligible to receive full payment hereunder (i.e., you will be treated as remaining continuously employed through December 15 of Year Three), and the number of Shares payable to you shall be that number determined pursuant to Section 3(b) hereof.

2

                                                
Exhibit 10.52

6.    Payment of Performance Share Units. Except as otherwise provided in Section 4(a), the number of Shares payable hereunder shall be paid as soon as reasonably practicable after December 15 of Year Three but in no event later than two and one-half months following the end of Year Three, in the amount determined in accordance with Section 3, as adjusted by Section 4(a), if applicable. Such payment will be subject to withholding for taxes and other applicable payroll adjustments. The Committee’s determination of the amount payable shall be binding upon you and your beneficiary or estate.  The value of such Shares shall not bear any interest owing to the passage of time.  The number of Shares of Common Stock payable will be rounded down to the nearest Share.  No fractional Shares of Common Stock will be issued pursuant to this Agreement.  
7.    Limited Stockholder Rights.  The Performance Share Units granted pursuant to this Agreement do not and shall not entitle you to any rights of a holder of Shares, including the right to vote, prior to the date Shares are issued to you in settlement of the Performance Share Units pursuant to Section 6; provided, however, that in the event the Company declares and pays a dividend in respect of its outstanding Shares and, on the record date of that dividend, you hold Performance Share Units granted pursuant to this Agreement that have not been paid, the Company shall pay to you an amount in cash equal to the cash dividends you would have received if you were the holder of record as of such record date, of the number of Shares equal to the number of Performance Share Units specified in Section 1 hereof, such payment shall be made promptly following the date that the Company pays such dividend to its shareholders generally (however, in no event shall the payment be paid later than thirty (30) days following the date on which the Company pays such dividend to its shareholders generally).  Your rights with respect to the Performance Share Units shall remain forfeitable at all times prior to the date on which the rights become vested and earned as set forth in Section 3, as adjusted by Section 4(a) or in accordance with Section 5, as applicable.
8.    Adjustment in Number of Performance Share Units.  The number of Performance Share Units subject to this Agreement shall be adjusted to reflect stock splits or other changes in the capital structure of the Company, all in accordance with the Plan. In the event that the outstanding Shares of the Company are exchanged for a different number or kind of shares or other securities, or if additional, new or different shares are distributed with respect to the Shares through merger, consolidation, or sale of all or substantially all of the assets of the Company, there shall be substituted for the Shares under the Performance Share Units subject to this Agreement the appropriate number and kind of shares of new or replacement securities as determined in the sole discretion of the Committee, subject to the terms and provisions of the Plan.

3

                                                
Exhibit 10.52

9.    Compliance with Securities Law.  Notwithstanding any provision of this Agreement to the contrary, the issuance of Shares will be subject to compliance with all applicable requirements of federal, state, or foreign law with respect to such securities and with the requirements of any stock exchange or market system upon which the Shares may then be listed.  No Shares will be issued hereunder if such issuance would constitute a violation of any applicable federal, state, or foreign securities laws or other law or regulations or the requirements of any stock exchange or market system upon which the Shares may then be listed.  In addition, Shares will not be issued hereunder unless %2) a registration statement under the Securities Act, is at the time of issuance in effect with respect to the Shares issued or %2) in the opinion of legal counsel to the Company, the Shares issued may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities Act.  The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary to the lawful issuance and sale of any Shares subject to the Award will relieve the Company of any liability in respect of the failure to issue such Shares as to which such requisite authority has not been obtained.  As a condition to any issuance hereunder, the Company may require you to satisfy any qualifications that may be necessary or appropriate to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect to such compliance as may be requested by the Company.  From time to time, the Board and appropriate officers of the Company are authorized to take the actions necessary and appropriate to file required documents with governmental authorities, stock exchanges, and other appropriate Persons to make Shares available for issuance.
10.    Payment of Taxes.  The Company may require you to pay to the Company (or the Company’s Subsidiary if you are an employee of a Subsidiary of the Company), an amount the Company deems necessary to satisfy its (or its Subsidiary’s) current or future withholding with respect to federal, state or local income or other taxes that you incur as a result of the Award.  With respect to any tax withholding and to the extent permissible pursuant to Rule 16b-3 under the Exchange Act, you may (a) direct the Company to withhold from the Shares to be issued to you under this Agreement the number of Shares necessary to satisfy the Company’s (or its Subsidiary’s) withholding of such taxes, which determination will be based on the Shares’ Fair Market Value at the time such determination is made; (b) deliver to the Company Shares sufficient to satisfy the Company’s (or its Subsidiary’s) tax withholding, based on the Shares’ Fair Market Value at the time such determination is made; or (c) deliver cash to the Company (or its Subsidiary) sufficient to satisfy its tax withholding obligations.  If you desire to elect to use the stock withholding option described in subparagraph (a), you must make the election at the time and in the manner the Company prescribes and the maximum number of Shares that may be so withheld or surrendered shall be a number of Shares that have an aggregate Fair Market Value on the date of withholding or surrender of up to the aggregate amount of such tax liabilities determined based on the greatest withholding rates for federal, state, foreign and/or local tax purposes, including payroll taxes, that may be utilized without creating adverse accounting treatment with respect to the Award.  The Company, in its discretion, may deny your request to satisfy its tax withholding obligations using a method described under subparagraph (a) or (b).  In the event the Company determines that the aggregate Fair Market Value of the Shares withheld as payment of any tax withholding obligation is insufficient to discharge that tax withholding obligation, then you must pay to the Company (or its Subsidiary), in cash, the amount of that deficiency immediately upon the Company’s (or its Subsidiary’s) request.

4

                                                
Exhibit 10.52

11.    Right of the Company and Subsidiaries to Terminate Services.  Nothing in this Agreement confers upon you the right to continue in the employ of or performing services for the Company or any Subsidiary, or interfere in any way with the rights of the Company or any Subsidiary to terminate your employment or service relationship at any time.
12.    Furnish Information.  You agree to furnish to the Company all information requested by the Company to enable it to comply with any reporting or other requirements imposed upon the Company by or under any applicable statute or regulation.
13.    Remedies.  The Company shall be entitled to recover from you reasonable attorneys’ fees incurred in connection with the successful enforcement of the terms and provisions of this Agreement whether by an action to enforce specific performance or for damages for its breach or otherwise.
14.    No Liability for Good Faith Determinations.  The Company and the members of the Board shall not be liable for any act, omission or determination taken or made in good faith with respect to this Agreement or the Performance Share Units granted hereunder.
15.    Execution of Receipts and Releases.  Any payment of cash or any issuance or transfer of Shares or other property to you, or to your legal representative, heir, legatee or distributee, in accordance with the provisions hereof, will, to the extent thereof, be in full satisfaction of all claims of such Persons hereunder. In addition, the Company may require you or your legal representative, heir, legatee or distributee, as a condition precedent to such payment or issuance, to execute a general release of all claims in favor of the Company, any Affiliate and the employees, officers, stockholders or board members of the foregoing in such form as the Company may determine.
16.    Clawback.  This Agreement is subject to any written clawback policies that the Company, with the approval of the Board or the Committee, may adopt.  Any such policy may subject your Performance Share Units and amounts paid or realized with respect to the Performance Share Units under this Agreement to reduction, cancelation, forfeiture or recoupment if certain specified events or wrongful conduct occur, including but not limited to an accounting restatement due to the Company’s material noncompliance with financial reporting regulations or other events or wrongful conduct specified in any such clawback policy adopted to conform to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and rules promulgated thereunder by the Securities and Exchange Commission and that the Company determines should apply to this Agreement.
17.    No Guarantee of Interests.  The Board and the Company do not guarantee the Shares from loss or depreciation.
18.    Company Records.  Records of the Company or its Subsidiaries regarding your period of service, termination of service and the reason(s) therefor, leaves of absence, re-employment, and other matters shall be conclusive for all purposes hereunder, unless determined by the Company to be incorrect.

5

                                                
Exhibit 10.52

19.    Notice.  All notices required or permitted under this Agreement must be in writing and personally delivered or sent by mail and shall be deemed to be delivered on the date on which it is actually received by the person to whom it is properly addressed or if earlier the date it is sent via certified United States mail. 
20.    Waiver of Notice.  Any person entitled to notice hereunder may waive such notice in writing.
21.    Information Confidential.  As partial consideration for the granting of the Award hereunder, you hereby agree to keep confidential all information and knowledge, except that which has been disclosed in any public filings required by law, that you have relating to the terms and conditions of this Agreement; provided, however, that such information may be disclosed as required by law and may be given in confidence to your spouse and tax and financial advisors.  In the event any breach of this promise comes to the attention of the Company, it shall take into consideration that breach in determining whether to recommend the grant of any future similar award to you, as a factor weighing against the advisability of granting any such future award to you.  Nothing in this Agreement will prevent you from: (a) making a good faith report of possible violations of applicable law to any governmental agency or entity or (b) making disclosures that are protected under the whistleblower provisions of applicable law. For the avoidance of doubt, nothing herein shall prevent you from making a disclosure that: (i) is made (A) in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney; and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Further, an individual who files a lawsuit for retaliation by an employer of reporting a suspected violation of law may make disclosures without violating this Section 21 to the attorney of the individual and use such information in the court proceeding.
22.    Successors.  This Agreement shall be binding upon you, your legal representatives, heirs, legatees and distributees, and upon the Company, its successors and assigns.
23.    Severability.  If any provision of this Agreement is held to be illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining provisions hereof, but such provision shall be fully severable and this Agreement shall be construed and enforced as if the illegal or invalid provision had never been included herein.
24.    Company Action.  Any action required of the Company shall be by resolution of the Board or by a person or entity authorized to act by resolution of the Board.
25.    Headings.  The titles and headings of Sections are included for convenience of reference only and are not to be considered in construction of the provisions hereof.
26.    Governing Law.  All questions arising with respect to the provisions of this Agreement shall be determined by application of the laws of Texas, without giving any effect to any conflict of law provisions thereof, except to the extent Texas state law is preempted by federal law.  The obligation of the Company to sell and deliver Shares hereunder is subject to applicable 

6

                                                
Exhibit 10.52

laws and to the approval of any governmental authority required in connection with the authorization, issuance, sale, or delivery of such Shares.
27.    Consent to Texas Jurisdiction and Venue.  You hereby consent and agree that state courts located in Dallas, Texas and the United States District Court for the Northern District of Texas each shall have personal jurisdiction and proper venue with respect to any dispute between you and the Company arising in connection with the Performance Share Units or this Agreement.  In any dispute with the Company, you will not raise, and you hereby expressly waive, any objection or defense to any such jurisdiction as an inconvenient forum.  
28.    Amendment.  This Agreement may be amended the Board or by the Committee at any time (a) if the Board or the Committee determines, in its sole discretion, that amendment is necessary or advisable in light of any addition to or change in any federal or state, tax or securities law or other law or regulation, which change occurs after the Date of Grant and by its terms applies to the Award; or (b) other than in the circumstances described in clause (a) or provided in the Plan, with your consent.  
29.    The Plan.  This Agreement is subject to all the terms, conditions, limitations and restrictions contained in the Plan.
30.    Conflict.  In the event the terms of this Agreement contradict the terms of any change in control agreement between you and the Company, the terms of this Agreement shall govern, subject to compliance with Section 409A of the Code.
31.    Section 409A.  It is intended that the Performance Share Units awarded hereunder shall comply with the requirements of Section 409A of the Code (and any regulations and guidelines issued thereunder), and this Agreement shall be interpreted on a basis consistent with such intent.  Payments shall only be made on an event and in a manner permitted by Section 409A of the Code.  Each payment under this Agreement is considered a separate payment for purposes of Section 409A of the Code.  This Agreement may be amended without your consent in any respect deemed by the Committee to be necessary in order to preserve compliance with Section 409A of the Code. All payments to be made upon a termination of employment under this Agreement may only be made upon a “separation from service” under Section 409A of the Code.   In no event may you, directly or indirectly, designate the calendar year of a payment. Notwithstanding anything in this Agreement to the contrary, if you are a “specified employee” under Section 409A of the Code at the time of separation from service and if payment of any amount under this Agreement is required to be delayed for a period of six months after the separation from service pursuant to Section 409A of the Code, payment of such amount shall be delayed as required by Section 409A of the Code, and the accumulated postponed amount shall be paid in a lump sum payment within 10 days after the end of the six-month period.  If you die during the postponement period prior to the payment of postponed amount, the accumulated postponed amount shall be paid to the personal representative of your estate within 60 days after the date of your death.  
32.    Nontransferability of Agreement. This Agreement and all rights under this Agreement shall not be transferable by you during your life other than by will or pursuant to applicable laws of descent and distribution. Any of your rights and privileges in connection herewith 

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Exhibit 10.52

shall not be transferred, assigned, pledged or hypothecated by you or by any other person or persons, in any way, whether by operation of law, or otherwise, and shall not be subject to execution, attachment, garnishment or similar process. In the event of any such occurrence, this Agreement shall automatically be terminated and shall thereafter be null and void. Notwithstanding the foregoing, all or some of the Performance Share Units or rights under this Agreement may be transferred to a spouse pursuant to a domestic relations order issued by a court of competent jurisdiction.
HollyFrontier Corporation

    
George J. Damiris, Chief Executive Officer and President

8

                                                
Exhibit 10.52

Appendix A
Defined Terms
For purposes of the Agreement, the following terms shall have the meanings assigned below: 
“Adverse Change” means (i) a change in the city in which you are required to work regularly, (ii) a substantial increase in travel requirements of employment, (iii) a substantial reduction in duties of the type previously performed by you, or (iv) a significant reduction in your compensation or benefits (other than bonuses and other discretionary items of compensation) that does not apply generally to employees of the Company or its successor. 
“Affiliate” has the meaning provided in Rule 12b-2 under the Exchange Act.
“Beneficial Owner” has the meaning provided in Rule 13d-3 under the Exchange Act.
“Cause” means:
(i)    An act or acts of dishonesty on your part constituting a felony or serious misdemeanor and resulting or intended to result directly in gain or personal enrichment at the expense of the Company or any of its Subsidiaries;
(ii)    Gross or willful and wanton negligence in the performance of your material and substantial duties of employment with the Company or any of its Subsidiaries; or
(iii)    Your conviction of a felony involving moral turpitude.
The existence of Cause shall be determined by the Committee, in its sole and absolute discretion.
“Change in Control” means the occurrence of any of the following after the Date of Grant:
(i)    Any Person, other than (A) the Company or any of its Subsidiaries, (B) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its Affiliates, (C) an underwriter temporarily holding securities pursuant to an offering of such securities, or (D) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such Person any securities acquired directly from the Company or its Affiliates) representing more than 40% of the combined voting power of the Company’s then outstanding securities, or more than 40% of the then outstanding common stock of the Company, excluding any Person who becomes such a Beneficial Owner in connection with a transaction described in clause (iii)(A) below.
(ii)    The individuals who as of the Date of Grant constitute the Board and any New Director cease for any reason to constitute a majority of the Board.

9

                                                
Exhibit 10.52

(iii)    There is consummated a merger or consolidation of the Company or any direct or indirect Subsidiary of the Company with any other corporation, except if:
(A)    the merger or consolidation results in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or any parent thereof) at least 60% of the combined voting power of the voting securities of the Company or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation; or
(B)    the merger or consolidation is effected to implement a recapitalization of the Company (or similar transaction) in which no Person is or becomes the Beneficial Owner, directly, or indirectly, of securities of the Company (not including in the securities beneficially owned by such Person any securities acquired directly from the Company or its Affiliates other than in connection with the acquisition by the Company or its Affiliates of a business) representing more than 40% of the combined voting power of the Company’s then outstanding securities.
(iv)    The stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale or disposition by the Company of all or substantially all of the Company’s assets to an entity at least 60% of the combined voting power of the voting securities of which is owned by the stockholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such sale.
“New Director” means an individual whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the Date of Grant or whose election or nomination for election was previously so approved or recommended. However, “New Director” shall not include a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation relating to the election of directors of the Company. 
“Peer Group” means Andeavor, CVR Energy, Inc., Delek U.S. Holdings, Inc., Marathon Petroleum Corporation, PBF Energy Corporation, Phillips 66, and Valero Energy Corporation. If a member of the Peer Group ceases to be a public company during the Performance Period (whether by merger, consolidation, liquidation or otherwise) or it fails to file financial statements with the SEC in a timely manner, it shall be treated as if it had not been a Peer Group member for the entire Performance Period.
“Performance Unit Payout Percentage” means the percentile obtained by dividing the sum of (1) the ROCE Performance Percentage and (2) the TSR Performance Percentage, by two.
“Person” has the meaning given in section 3(a)(9) of the Exchange Act as modified and used in sections 13(d) and 14(d) of the Exchange Act. 

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Exhibit 10.52

“Retirement” means your termination of employment other than for Cause on or after the date on which you: (i) have achieved ten years of continuous service with the Company and its Subsidiaries, and (ii) are age sixty (60).
“Return on Capital Employed,” or ROCE, is defined as (i) operating income before depreciation and amortization divided by (ii) the sum of shareholders’ equity, plus minority interest, plus debt, less goodwill and intangible assets, less cash and marketable securities at the beginning of the Performance Period; provided, that such metric will be calculated to exclude (a) any gains or losses attributable to FIFO inventory valuation (including lower of cost or market adjustments), (b) the effects of impairment expense related to intangible assets, including goodwill, and (c) non-cash asset writedowns; provided, further, the Committee may exclude the impact of any of the following events or occurrences (with respect to the Company or any member of the Peer Group) which the Committee determines should appropriately be excluded: (A) asset write-downs; (B) litigation, claims, judgments or settlements; (C) the effect of changes in tax law or other such laws or regulations affecting reported results; (D) accruals for reorganization and restructuring programs; (E) any extraordinary, unusual or nonrecurring items as described in the Accounting Standards Codification Topic 225, as the same may be amended or superseded from time to time; (F) any change in accounting principles as defined in the Accounting Standards Codification Topic 250, as the same may be amended or superseded from time to time; (G) any loss from a discontinued operation as described in the Accounting Standards Codification Topic 360, as the same may be amended or superseded from time to time; (H) adjustments to ROCE of the Company or any member (or multiple members) of the Peer Group to reflect mergers, acquisitions, purchases or similar transactions as necessary to prevent the increase or decrease of the ROCE of the Company or member of the Peer Group related to the merger, acquisition, purchase or similar transaction; (I) third party expenses associated with acquisitions; and (J) to the extent set forth with reasonable particularity in connection with the establishment of performance goals, any other extraordinary events or occurrences identified by the Committee.
“ROCE Performance Percentage” means the percentage set forth in the table below determined in accordance with the ordinal ranking of the Return on Capital Employed of the Company compared to the ROCE of each entity in the Peer Group achieved during the Performance Period:  
	
		
	

Ranking of the Company within Peer Group
	

ROCE Performance Percentage

	First
	Maximum (200% of Target)

	Second
	167% of Target

	Between Second and Target
	Interpolate between 100% and 167%

	Average of Fourth and Fifth
	Target (100%)

	Between Seventh and Target
	Interpolate between 50% and 100%

	Seventh
	50% of Target (Minimum)

	Eighth (last)
	Zero

In the event the Peer Group contains fewer than seven companies at the end of the Performance Period, the table above will be adjusted by the Committee in a manner consistent with the table above to reflect the change in the number of companies within the Peer Group.

11

                                                
Exhibit 10.52

“SEC” means the Securities and Exchange Commission.
“Special Involuntary Termination” means the occurrence of (1) or (2) below within 60 days prior to, or at any time after, a Change in Control, where (1) is termination of your employment with the Company (including Subsidiaries of the Company) by the Company for any reason other than Cause and (2) is your resignation from employment with the Company (including Subsidiaries of the Company) within 90 days after an Adverse Change by the Company (including Subsidiaries of the Company) in the terms of your employment.
“Total Shareholder Return” or TSR, means (A) the sum of (1) share price appreciation (calculated as the closing share price of the Common Stock for the last business day of the Performance Period less the closing share price of the Common Stock for the first business day of the Performance Period), plus (2) cumulative dividends during the Performance Period, plus (3) any additional value or compensation received by shareholders such as stock received from spinoffs, divided by (B) the closing share price of the Common Stock on the first business day of the Performance Period.
“TSR Performance Percentage” means the percentage set forth in the table below determined in accordance with the ordinal ranking of the Total Shareholder Return of the Company compared to the TSR of each entity in the Peer Group achieved during the Performance Period:
	
		
	

Ranking of the Company within Peer Group
	

TSR Performance Percentage

	First
	Maximum (200% of Target)

	Second
	167% of Target

	Between Second and Target
	Interpolate between 100% and 167%

	Average of Fourth and Fifth
	Target (100%)

	Between Seventh and Target
	Interpolate between 50% and 100%

	Seventh
	50% of Target (Minimum)

	Eighth (last)
	Zero

In the event the Peer Group contains fewer than seven companies at the end of the Performance Period, the table above will be adjusted by the Committee in a manner consistent with the table above to reflect the change in the number of companies within the Peer Group.

12

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