Document:

prdo-ex102_50.htm

Exhibit 10.2

FIRST AMENDMENT AND
SUMMARY OF MATERIAL MODIFICATIONS TO THE
CAREER EDUCATION CORPORATION
EXECUTIVE SEVERANCE PLAN &
SUMMARY PLAN DESCRIPTION
(As Amended and Restated Effective November 1, 2015)

WHEREAS, Career Education Corporation (the “Company”) maintains the Career Education Corporation Executive Severance Plan, effective as of November 1, 2015 (the “Plan”); and WHEREAS, Article V, Section D of the Plan authorizes the Company to amend and modify the Plan at any time and from time to time; and

WHEREAS, the Company has changed its name from Career Education Corporation to Perdoceo Education Corporation; and

 

WHEREAS, the Company resolved to amend the Plan to reflect this name change. 

 

NOW, THEREFORE, BE IT RESOLVED, the Plan is hereby amended, effective as of February 1, 2020:

	
1.
	
The Plan sponsor’s name is changed from Career Education Corporation to Perdoceo Education Corporation and all applicable references to Career Education Corporation (including where used in the Career Education Corporation Employee Benefits Committee name) and CEC are amended accordingly.

	
2.
	
The Plan name is changed from the Career Education Corporation Executive Severance Plan to the Perdoceo Education Corporation Executive Severance Plan and all applicable references to the Career Education Corporation Executive Severance Plan are amended accordingly

*      *      *      *

IN WITNESS WHEREOF, the Company has caused this First Amendment to be executed this _9th__ day of __July________, 2020, effective as of the date set forth herein.

PERDOCEO EDUCATION CORPORATION

By: __/s/ Jeffrey D. Ayers _______

 

Title:_SVP & General Counsel__

 

 

 

This Amendment and Summary of Material Modifications (“SMM”) describes changes to the Career Education Corporation Executive Severance Plan & Summary Plan Description, effective as of November 1, 2015 (referred to in this Amendment and SMM as the “Plan”) and updates information currently contained in the applicable Plan Document and Summary Plan Description.  Please keep this SMM with your other Plan materials.

If you have questions regarding this Amendment and SMM, please contact the Plan Administrator at (847) 781-3600.

 

2 of 2Exhibit

Exhibit 10.1

 SECOND AMENDMENT

TO THIRD AMENDED AND RESTATED 
CRUDE PIPELINES AND TANKAGE AGREEMENT
 

This Second Amendment to Third Amended and Restated Crude Pipelines and Tankage Agreement (this “Amendment”) is entered into on May 26, 2020, to be effective as of May 26, 2020 (the “Second Amendment Effective Date”) by and among:

1.HollyFrontier Navajo Refining LLC, a Delaware limited liability company (“Navajo Refining”),

2.HollyFrontier Woods Cross Refining LLC, a Delaware limited liability company (“Holly Refining – Woods Cross”), 

3.HollyFrontier Refining & Marketing LLC, a Delaware limited liability company (“HFRM”, together with Navajo Refining and Holly Refining – Woods Cross, the “HollyFrontier Entities”),

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

5.HEP Pipeline, L.L.C., a Delaware limited liability company (“HEP Pipeline”), and

6.HEP Woods Cross, L.L.C., a Delaware limited liability company (“HEP Woods Cross”, together with the Operating Partnership and HEP Pipeline, the “Partnership Entities”).

Each of the HollyFrontier Entities and the Partnership Entities are individually referred to herein as a “Party” and collectively as the “Parties.” 

WHEREAS, the Parties desire to amend certain provisions of the Third Amended and Restated Crude Pipelines and Tankage Agreement, effective as of March 12, 2015, (as amended to date, the “Agreement”) by and among the HollyFrontier Entities and the Partnership Entities as set forth herein; and

WHEREAS, HEP Pipeline has constructed and installed the system upgrades and HFRM has agreed to reimburse HEP Pipeline for the cost of such upgrades all as provided herein; 

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

ARTICLE 1 
AMENDMENTS

1.1    Amendment to Section 2.  Section 2 of the Agreement is hereby amended by adding subsection (w) as follows:

“(w)    Hobbs System Expansion.

1

(i)    Effective as of the Hobbs Expansion Commencement Date, the HollyFrontier Entities shall pay to the Partnership Entities a pump-over fee of $0.22 per barrel for all barrels received at the Hobbs Station terminal in Hobbs, New Mexico from Plains Pipeline, L.P. (the “Hobbs Pump-Over Fee”). The Hobbs Pump-Over Fee shall (A) remain in effect until the Partnership Entities have received aggregate Hobbs Pump-Over Fees in respect of the Hobbs System Expansion equal to $600,000, and (B) be in addition to the Minimum Trunk Pipeline Revenue Commitment.
(ii)    From the Hobbs Expansion Commencement Date until the last day of the month following the month in which the Partnership Entities have received the full amount to which they are entitled with respect to the Hobbs System Expansion, the Partnership Entities shall provide the HollyFrontier Entities with written notice of their calculation of the Hobbs Pump-Over Fee by no later than 30 days following the end of each calendar month. The notice will include an aggregate balance of the Hobbs Pump-Over Fees paid by the HollyFrontier Entities since the Hobbs Expansion Commencement Date.
(iii)    If the HollyFrontier Entities disagree with the Partnership Entities’ calculations in respect of the Hobbs Pump-Over Fee, then HollyFrontier Entities will notify the Partnership Entities and a senior officer of HollyFrontier and a senior officer of the Partnership will negotiate in good faith to resolve any differences with respect to such calculations. If such differences are not resolved within 30 days following the Partnership Entities’ delivery to the HollyFrontier Entities of the Hobbs Pump-Over Fee calculations, the HollyFrontier Entities and the Partnership Entities shall submit any and all matters which remain in dispute to arbitration in accordance with Section 12(e).”
1.2    Amendment to Section 6.  Section 6 of the Agreement is hereby amended by adding the following to the end thereof:
“If the amount contemplated in Section 2(w)(i) has not been paid to the Partnership Entities at the time this Agreement is terminated in accordance with its terms, then, notwithstanding anything in this Agreement to the contrary, any amounts then owing in respect of Section 2(w)(i) shall be paid to the Partnership Entities not later than the third business day following such termination.”
1.3    Amendment to Annex A. 
 (i)    Annex A to the Agreement is hereby amended to add the following definition in the proper alphabetical sequence:
“Hobbs Expansion Commencement Date” means June 1, 2020.
“Hobbs System Expansion” means the following construction in 2020: (A) connection facilities at the Hobbs Station terminal in New Mexico allowing for additional third party crude deliveries to such terminal and (B) additional pumps and pumping capacity to the Hobbs to Lovington 8-inch pipeline enabling an additional 10,000 barrels per day of Crude Oil to be transported between the Hobbs Station terminal in Hobbs, New Mexico and the Lovington Refinery.
(ii)    Annex A to the Agreement is hereby amended to add the following definitions to the defined term table in proper alphabetical sequence:

2

	
		
	Term
	Section

	“Hobbs Pump-Over Fee”
	Section 2(w)(i)

ARTICLE 2

MISCELLANEOUS
2.1    Counterparts.  This Amendment may be executed in counterparts each of which shall be deemed an original. An executed counterpart of this Amendment transmitted by facsimile shall be equally as effective as a manually executed counterpart.

2.2    Successors and Assigns. Section 12(b) of the Agreement is hereby incorporated by reference into this Section 2.2, mutatis mutandis.

2.3    Entire Agreement. The Agreement, as amended by this Amendment, contains the entire agreement between the Parties as to the subject matter of the Agreement and, except as provided for in this Amendment, the terms and provisions of the Agreement shall remain in full force and effect as originally written.  

[Remainder of page intentionally left blank.  Signature pages follow.]

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

PARTNERSHIP ENTITIES:

HOLLY ENERGY PARTNERS - OPERATING, L.P.
HEP WOODS CROSS, L.L.C.
HEP PIPELINE, L.L.C.

By:      /s/ Richard L. Voliva III    
Name: Richard L. Voliva III
Title:     President

HOLLYFRONTIER ENTITIES:

HOLLYFRONTIER NAVAJO REFINING LLC
HOLLYFRONTIER WOODS CROSS REFINING LLC 
        
    
By:      /s/ Thomas G. Creery    
Name: Thomas G. Creery
Title:     Senior Vice President, Commercial

        
HOLLYFRONTIER REFINING & MARKETING LLC

By:      /s/ Thomas G. Creery    
Thomas G. Creery
President

3Exhibit

FIRST AMENDMENT TO
FIFTH AMENDED AND RESTATED MASTER
 LEASE AND ACCESS AGREEMENT

This First Amendment to Fifth Amended and Restated Master Lease and Access Agreement (this “Amendment”) is entered into as of August 4, 2020 to be effective 12:01 a.m. Central Time (the “Effective Time”) on January 23, 2020 (the “Effective Date”) by and between the Parties whose signatures are set forth below.

WHEREAS, on October 29, 2018, the Parties entered into that certain Fifth Amended and Restated Master Lease and Access Agreement (the “Agreement”).  Capitalized terms used but not otherwise defined in this Amendment have the meanings ascribed to such terms in the Agreement.

WHEREAS, the Parties now desire to amend certain provisions of the Agreement as set forth herein.  

NOW, THEREFORE, in consideration of the premises and the covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, as of the Effective Date, the Parties hereby amend the Agreement as follows:

1.Incorporation of Recitals.  The recitals for this Amendment are fully incorporated herein by the reference thereto with the same force and effect as though recited herein.

2.Amendments. Exhibit E attached to the Agreement is hereby deleted and replaced in its entirety with Exhibit E attached to this Amendment. In addition, Exhibits E-8 and F-8 attached to this Amendment are hereby added to the Agreement.
 
3.     Counterparts.  This Amendment may be executed in counterparts each of which shall be deemed an original.  An executed counterpart of this Amendment transmitted by email shall be equally as effective as a manually executed counterpart.

4.    Successors and Assigns.  This Amendment shall inure for the benefit of and shall be binding on each of the Parties and their respective successors and/or assigns.

5.    Entire Agreement.  This Amendment contains the entire agreement between the Parties as to the subject matter hereof and, except as provided for in this Amendment, the terms and provisions of the Agreement shall remain in full force and effect.

[Remainder of Page Intentionally Left Blank]

IN WITNESS WHEREOF, the Parties have executed this First Amendment to Fifth Amended and Restated Master Lease and Access Agreement to be effective as of the Effective Date.

Related Refinery Owners:

HOLLYFRONTIER EL DORADO REFINING LLC
HOLLYFRONTIER CHEYENNE REFINING LLC
HOLLYFRONTIER TULSA REFINING LLC
HOLLYFRONTIER WOODS CROSS REFINING LLC
HOLLYFRONTIER NAVAJO REFINING LLC

By: /s/ Thomas G. Creery            
Name: Thomas G. Creery
Title: Senior Vice President, Commercial

Relevant Asset Owners:

EL DORADO LOGISTICS LLC
EL DORADO OPERATING LLC
CHEYENNE LOGISTICS LLC
HEP TULSA LLC
WOODS CROSS OPERATING LLC
HEP WOODS CROSS, L.L.C.
HEP PIPELINE, L.L.C.

By: /s/ Richard L. Voliva III            
Name:  Richard L. Voliva III
Title:    President 

Exhibit E
to
Fifth Amended and Restated Master Lease and Access Agreement

Applicable Term and Applicable Assets

	
			
	Location
	

Applicable Term
	

Applicable Assets

	El Dorado Refinery Complex

	For El Dorado Logistics
	Commencement Date:  November 1, 2011
End Date:  November 1, 2061 (midnight)
	See Exhibit E-1

	For El Dorado Operating
	Commencement Date:  November 1, 2015
End Date:  November 1, 2065 (midnight)
	See Exhibit E-8

	Cheyenne Refinery Complex

	For Cheyenne Logistics
	Commencement Date:  November 1, 2011
End Date:  November 1, 2061 (midnight)
	See Exhibit E-2

	Tulsa Refinery Complex

	Group 1 Assets and Group 2 Assets
	Commencement Date:  March 31, 2010
End Date:  March 31, 2060 (midnight)

	See Exhibit E-3

	Tulsa West Tankage Assets and Receiving Pipelines

	Commencement Date:  March 31, 2016
End Date:  March 31, 2066 (midnight)

	See Exhibit E-3

	Woods Cross Refinery Complex

	For HEP Woods Cross
	Commencement Date:  February 29, 2008
End Date:  February 28, 2058 (midnight)
	Applicable Assets at Woods Cross Refinery Complex (excluding the Woods Cross Pipeline Pad)

See Exhibit E-4

	Commencement Date:  September 10, 2010
End Date:  February 28, 2058 (midnight)
	Woods Cross Pipeline Pad

See Exhibit E-5

	For Woods Cross Operating
	Commencement Date:  October 1, 2016
End Date:  October 1, 2066 (midnight)
	See Exhibit E-9

	Navajo Refinery Complex

	 
	Commencement Date:  February 29, 2008
End Date:  February 28, 2058 (midnight)
	Applicable Assets at Navajo Refinery Complex (excluding the Truck Rack, the Artesia Blending Station and the Artesia Pump and Receiving Stations)

See Exhibit E-6

	Commencement Date:  September 10, 2010
End Date:  February 28, 2058 (midnight)

	Artesia Pump and Receiving Stations

See Exhibit E-7

	Commencement Date: January 23, 2020
End Date:  February 28, 2058 (midnight)
	LACT Units #6007102, #6007103, and the easternmost LACT Unit located in Lane 3 on the land described on Exhibit F-8  and all related equipment

See Exhibit E-8

Exhibit E-8
to
Fifth Amended and Restated Master Lease and Access Agreement

Applicable Assets:  Navajo Refinery Complex
LACT Units #6007102, #6007102, and the easternmost LACT Unit located in Lane 3 on the land described on Exhibit F-8  and all related equipment

		
	1.
	LACT Units #6007102, #6007103, and the easternmost LACT Unit located in Lane 3 on the land described on Exhibit F-8 and all related equipment

Exhibit F-8
to
Fifth Amended and Restated Master Lease and Access Agreement

Legal Description for Navajo Refinery Complex (LACT Units #6007102, 6007103, and the easternmost LACT Unit located in Lane 3 and related equipment)

Page 1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00312-of-00352.parquet"}]]