Document:

Exhibit 10.10

 

PROMISSORY NOTE

 

	$1,250,000 USD	July 4, 2014

 

             FOR
VALUE RECEIVED, the undersigned, Canadian Cannabis Corp., a corporation organized under the laws of the Province of
Ontario, located at 100 Rutherford Road South, Brampton Ontario, L6V 2J2, Canada (the “Maker”), promises to pay to
the order of Wildhaus Capital Schweiz AG., a Canton of Schwyz Registered Corporation, Switzerland, with the mailing address
of In den Gaertlesaecker 44, 70771 Leinfelden/Echterdingen Germany.

 

(hereinafter referred to as “Payee”;
Payee, and any successor holder(s) hereof from time to time, being hereinafter referred to as “Holder”), at such place
as Holder may designate to Maker in writing from time to time, the principal sum of ONE MILLION TWO HUNDRED AND FIFTY THOUSAND
(CAD $1,250,000), together with interest thereon, at the rate hereinafter set forth, in lawful money of the UNITED STATES OF AMERICA,
which shall at the time of payment be legal tender in payment of all debts and dues, public and private, such principal and interest
to be paid in the following manner, to-wit:

 

1.                 
Interest; Payments; Maturity. Interest shall accrue at the rate of 10/100 percent (0.10%) (the “Applicable Rate”)
and shall compound annually. Interest and principal shall be paid upon the occurrence of certain events, as follows:

 

		(a)	One Hundred Eighty (180) days from the date of this Promissory Note.

 

This Note shall mature, if not sooner paid
in full, and all principal and accrued interest shall be due and paid in full in a balloon payment on the date that is one (1)
days after the date set forth above.

 

2.                 
Prepayment. This Note may be prepaid in whole or in part at any time without penalty. Any
partial prepayment shall
be applied first
to interest and
the remaining balance of
such payment, if
any, to principal.

 

3.                 
Usury Laws. If for any circumstances whatsoever fulfillment of any provision of this Note at the time performance of such
provision shall be due, shall involve transcending the limit of validity presently prescribed by any applicable usury statute or
any other applicable law, with regard to obligations of like character and amount, then, ipso facto, the obligation to be fulfilled
shall be reduced to the limit of such validity, so that in no event shall any exaction be possible under this Note or under any
other instrument evidencing or securing the indebtedness evidenced hereby, that is in excess of the current limit of such validity,
but such obligation shall be fulfilled to the limit of such validity.

 

4.                 
Events of Default. Each of the following shall be deemed to constitute an “Event of Default” hereunder:

 

		(a)	Failure to Pay. The nonpayment when due of any interest or principal as provided
in this Note if any such nonpayment shall not be cured within ten (10) days of the date when due;

 

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		(b)	Voluntary Bankruptcy or Insolvency Proceedings. Maker shall (i) apply for or consent
to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a substantial part of its property, or
voluntarily terminate operations, (ii) make a general assignment for the benefit of any of its creditors, (iii) be dissolved or
liquidated in full or in part, (iv) commence a voluntary case or other proceeding seeking liquidation, reorganization or other
relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or
consent to any such relief or to the appointment of or taking possession of its property by any official in an involuntary case
or other proceeding commenced against it, (v) admit in writing its inability to pay debts as the debts become due, or (vi) take
any action for the purpose of effecting any of the foregoing; or

 

		(c)	Involuntary Bankruptcy or Insolvency Proceedings. Proceedings for the appointment
of a receiver, trustee, liquidator or custodian of the Maker of all or a substantial part of the property thereof, or an involuntary
case or other proceedings seeking liquidation, reorganization or other relief with respect to the Maker or the debts thereof under
any bankruptcy, insolvency or other similar law now or hereafter in effect shall be commenced and an order for relief entered,
or such case or proceeding shall not be dismissed or discharged within 20 days of commencement.

 

5.                 
Remedies. Upon the occurrence of an Event of Default, at the option and upon the written declaration of the Holder (or automatically
without such declaration if an Event of Default set forth in Section 4(c) occurs), and
without demand or notice of any kind, the principal indebtedness evidenced hereby, together with all unpaid interest accrued thereon,
shall at once become due and payable and may be collected forthwith, regardless of the stipulated date of maturity. 

 

6.                 
Default Interest. Interest shall accrue on the outstanding principal balance of this Note from the date of any Event of
Default hereunder and for so long as such Event of Default continues, regardless of whether or not there has been an acceleration
of the indebtedness evidenced hereby as set forth herein, at the rate which is the lower of the highest applicable rate permitted
by law or sixteen percent (16.0%) per annum in excess of the Applicable Rate at the time of such Event of Default. All such interest
shall be paid at the time of and as a condition precedent to the curing of any such Event of Default should Holder, at its sole
option, allow such Event of Default to be cured. In the event this Note, or any part thereof, is collected by or through an attorney-at-law,
Maker agrees to pay all costs of collection including reasonable attorney's fees. 

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7.                 
Time is of the Essence. Time is of the essence with respect to all of Maker’s obligations and agreements under this
Note.

 

8.                 
Delay; Waiver. Presentment for payment, demand, protest and notice of demand, notice of dishonor and notice of nonpayment
and all other notices not expressly set forth are hereby waived by Maker. No failure to accelerate the debt evidenced hereby by
reason of default hereunder, acceptance of a past due installment, or indulgences granted from time to time shall be construed
(i) as a novation of this Note or as a restatement of the indebtedness evidenced hereby or as a waiver of such right of acceleration
or of the right of Holder thereafter to insist upon strict compliance with the terms of this Note, or (ii) to prevent the exercise
of such right of acceleration or any other right granted hereunder or by applicable law; and Maker hereby expressly waives the
benefit of any statute or rule of law or equity now provided, or which may hereafter be provided, which would produce a result
contrary to or in conflict with the foregoing. No extension of the time for the payment of this Note or any installment due hereunder,
made by agreement with any person now or hereafter liable for the payment of this Note shall operate to release, discharge, modify,
change or affect the original liability of Maker under this Note, either in whole or in part unless Holder agrees otherwise in
writing. This Note may not be changed orally, but only by an agreement in writing signed by the party against whom enforcement
of any waiver, change, modification or discharge is sought.

 

Maker hereby waives and renounces for itself,
its heirs, successors and assigns, all rights to the benefits of any statute of limitations any moratorium, reinstatement, marshaling,
forbearance, valuation, stay, extension, redemption, appraisement and exemption now provided, or which may hereafter be provided,
by the Constitution and laws of the United States of America and of any state thereof, against the enforcement and collection of
the obligations evidenced by this Note. Maker hereby transfers, conveys and assigns to Holder a sufficient amount of such homestead
or exemption as may be set apart in bankruptcy, to pay this Note in full, with all costs of collection, and does hereby direct
any trustee in bankruptcy having possession of such homestead or exemption to deliver to Holder a sufficient amount of property
or money set apart as exempt to pay the indebtedness evidenced hereby, or any renewal thereof, and does hereby appoint Holder the
attorney-in-fact for Maker to claim any and all homestead exemptions allowed by Law.

 

9.                 
Notices. Except as otherwise specified herein, all notices and other communications under this Note shall be in writing
and shall be deemed to have been given if personally delivered or if sent by registered or certified United States mail, return
receipt requested, postage prepaid, addressed to (i) Holder at the address set forth in the preamble of this Note, Attn: Friggi
N.A. Inc., or (ii) Maker at the address set forth in the preamble of this Note, Attn: Benjamin Ward, President & CEO, with
a copy, which shall not constitute notice, to H. Grady Thrasher IV, 5 Concourse Parkway, Suite 2600, Atlanta, Georgia 30328. Either
party may designate any other address to which notices shall be sent by giving notice of the address to the other party in the
same manner as provided therein.

 

10.                Miscellaneous.
This Note is intended as a contract under and shall be construed and enforceable in accordance with the laws of the State of Delaware.
As used herein, the terms “Maker”, “Payee” and “Holder” shall be deemed to include their respective
heirs, successors, legal representatives and assigns, as the case may be, whether by voluntary action of the parties or involuntary
by operation of law.

  

[Signatures on next page.] 

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IN WITNESS WHEREOF,
Maker has executed this Note under seal on the date first above written.

 

MAKER:

 

Canadian Cannabis Corp.

 

	 	By:	/S/ Benjamin Ward	 
	 	 	Benjamin Ward, President
& CEO	 
	 	 	 	 
	 	Attest:______________________________

 

Name:_______________________________

 

Title:________________________________

  

 

Page 4 of 4EX-10.1

 Exhibit 10.1 

SEPARATION AND GENERAL RELEASE AGREEMENT 

THIS SEPARATION AND GENERAL RELEASE AGREEMENT (the “Agreement”) is entered into effective as of September 8, 2014, by
and between Par Petroleum Corporation (the “Company”) and Peter Coxon (“Officer”) (together, the “Parties”). 

RECITALS 
 WHEREAS,
Officer is employed by the Company, and 
 WHEREAS, the Officer has decided to resign his employment from the Company and retire after
December 31, 2014, and the Parties desire to resolve, fully and finally, all outstanding matters between them. 
 NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth hereinafter, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties, intending to be legally bound, hereby agree as
follows: 
 AGREEMENT 
 1.
OFFICER’S SEPARATION. Officer’s employment with the Company and any subsidiaries and affiliated entities terminated on September 8, 2014 (the “Separation Date”). As of the Separation Date, Officer shall no
longer be an officer, employee or member of the Board of Directors (the “Board”) of the Company or any subsidiary or affiliated entity of the Company, and Officer agrees he shall execute all documents necessary to effect such
resignations. 
 2. CONSIDERATION. In consideration of the terms, representations, promises, waivers and releases contained in this Agreement,
and Officer’s compliance with the terms of this Agreement, the Company will provide the Officer with the following payments and benefits: 

a. The Company shall cause 109,579 of the unvested shares in the Company granted to Officer as of August 18, 2014 to vest as follows:
(i) 27,395 shares shall vest on December 31, 2014; and (ii) 82,184 shares shall vest upon the earlier to occur of (a) closing of the Company’s proposed acquisition of Koko’oha Investments Inc. by merger (the
“Transaction”), or (b) termination of the merger agreement concerning the Transaction. Immediately after vesting, such shares shall be free of sales or other restrictions and shall be freely transferable by Officer. 

b. The Company shall pay to Officer all Accrued Amounts (as defined below), subject to payroll deductions and required withholdings, in
accordance with the Company’s normal payroll schedule and pursuant to the Company’s policies. “Accrued Amounts” means any accrued but unpaid base salary through the Separation Date paid in accordance with normal payroll
practices, unreimbursed business expenses incurred prior to the Separation Date paid in accordance with Company policies, and accrued but unused vacation time through the Separation Date due in accordance with Company plans and policies. With
respect to reimbursement for business expenses incurred consistent with applicable Company policies prior to the Separation Date, Officer agrees that, within forty-five (45) days following the Separation Date, Officer will

  
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submit his final expense reimbursement statement and required documentation reflecting all business expenses Officer incurred through the Separation Date, if any, for which Officer seeks
reimbursement. 
 c. The Company shall return all of Officer’s personal property. Officer shall be entitled to retain the laptop
provided to him by the Company. 
 d. If Officer timely elects continued group medical and dental coverage pursuant to the Consolidated
Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company will either pay directly or reimburse Officer for the COBRA premium payments for Officer and his eligible dependents under the Company’s group medical
and dental plans to the extent such COBRA premium payments exceed premiums paid by then-current employees of the Company for similar coverage for the period of the Separation Date through December 31, 2014 (or until such earlier time as Officer
ends his participation in such coverage). 
 e. Officer will be entitled to receive vested amounts and accrued but unpaid contributions, if
any, payable to Officer under the Company’s 401(k) plan in accordance with the terms of such plan and applicable law. Except as specifically set forth herein, Officer’s participation in all Company plans, including any and all equity
and/or deferred compensation plans, shall remain subject to the terms and conditions of such plans as in effect from time to time. 
 Officer acknowledges
and agrees that under the terms of this Agreement, he is receiving consideration beyond that which he would otherwise be entitled to and which, but for the mutual covenants set forth in this Agreement, the Company would not otherwise be obligated to
provide. Officer further agrees that the benefits provided hereunder are in addition to any wages and accrued but unused vacation earned through the Separation Date, and he is not entitled to any wages in lieu of notice. Other than the payments
and benefits set forth herein, Officer is not entitled to any other payments or benefits of any kind based on any agreement, plan or practice of the Company. Officer understands and agrees that the Company shall neither make nor cause to be made any
other payments to Officer, Officer’s beneficiaries or dependents, or otherwise on Officer’s behalf, except as specifically referenced herein. 

3. REPRESENTATIONS. Officer and the Company make the following representations, each of which is an important consideration to the other
party’s willingness to enter into this Agreement: 
 a. Officer understands and agrees that he has been advised to consult with an
attorney of his choice concerning the legal consequences of this Agreement. Officer hereby acknowledges that prior to signing this Agreement, he had the opportunity to consult, and did consult, with an attorney of his choosing regarding the
effect of each and every provision of this Agreement. 
 b. Officer acknowledges and agrees that he knowingly and voluntarily entered into
this Agreement with complete understanding of all relevant facts, and that he was neither fraudulently induced nor coerced to enter into this Agreement. 

c. Each of the Parties represent and warrant to the other that they have the capacity and authority to enter into this Agreement and be bound
by its terms and that, when executed, this Agreement will constitute a valid and binding agreement of such Party enforceable against such Party in accordance with its terms. 

  
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 4. OFFICER RELEASE OF CLAIMS. 

a. Officer hereby forever releases and discharges the Company and its parents, subsidiaries, affiliates, successors, and assigns, as well as
each of their respective officers, directors, partners, principals, members, trustees, employees, agents, attorneys, and all predecessors, successors, heirs and assigns thereof (collectively, the “Company Released Parties”), from
any and all claims, charges, complaints, liens, demands, causes of action, obligations, damages, and liabilities, of any nature whatsoever, known or unknown, suspected or unsuspected, that Officer had, now has, or may hereafter claim to have against
the Company Released Parties for any alleged act or omission which occurred on or at any time before the Separation Date that (i) relate in any way to the Company, its parents, subsidiaries, affiliates, successors, or assigns or (ii) arise out of or
relate in any way to Officer’s employment with, or resignation or retirement from, the Company or its parents, subsidiaries, or affiliates or that arise out of or relate to Officer’s purchase or ownership of stock in the Company or its
parents, subsidiaries, or affiliates (the “Officer’s Release”). Officer is not aware of any factual basis for any claims against any of the Company Released Parties under the Fair Labor Standards Act, as amended. 

b. Officer’s Release specifically extends to, without limitation, any and all claims or causes of action for wrongful termination, breach
of an express or implied contract, including, without limitation, breach of the covenant of good faith and fair dealing, breach of fiduciary duty, employment discrimination, including harassment, fraud, misrepresentation, defamation, slander,
infliction of emotional distress, disability, loss of future earnings, and any claims under any applicable state, federal, or local statutes and regulations, including, but not limited to, the laws of Texas and Hawaii, the Civil Rights Act of 1964,
as amended, the Equal Pay Act of 1963, as amended, the Fair Labor Standards Act, as amended, the Americans with Disabilities Act of 1990, as amended (the “ADA”), the Rehabilitation Act of 1973, as amended, the Age Discrimination in
Employment Act, as amended (“ADEA”), as amended, the Older Workers Benefit Protection Act, as amended, the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the Worker Adjustment and Retraining
Notification Act, as amended (the “WARN Act”), Section 806 of the Sarbanes-Oxley Act, and the Family and Medical Leave Act, as amended, or any other federal or state laws relating to employment or employment discrimination, and
any claims for attorneys’ fees and costs (other than any claims arising under the Agreement for attorneys’ fees or costs); provided, however, that Officer’s Release does not waive, release or otherwise discharge
(i) any claim or cause of action to enforce any of Officer’s rights under this Agreement, (ii) COBRA rights, (iii) unsubmitted or unpaid medical and dental insurance benefits accrued prior to the Separation Date, subject to the terms of
the relevant insurance plans, (iv) coverage, if any, under the Company’s insurance policies in effect as of the Separation Date, subject to the terms thereof, or (v) any rights Officer may possess as a shareholder of the Company to own or
vote Officer’s shares or to receive dividends, if any. In addition, Officer’s Release will not release, waive or discharge any rights or claims Officer may have that arise from actions or omissions after the Separation Date. 

  
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 c. This release extends to any claims that may be brought on Officer’s behalf by any person
or agency, as well as any class or representative action under which Officer may have any rights or benefits; Officer agrees not to accept any recovery or benefits under any such claim or action, and Officer assigns any such recovery or benefits to
the Company. For the purpose of implementing a full and complete release, Officer understands and agrees that this Agreement is intended to include all claims, if any, which Officer may have and which Officer does not now know or suspect to exist in
his favor against the Company Released Parties and this Agreement extinguishes those claims. Accordingly, Officer expressly waives all rights afforded by any state statute or regulation in any other applicable jurisdiction that limits the
enforceability or effectiveness of releases of such claims. 
 5. SPECIAL AGE DISCRIMINATION AND ADEA WAIVER AND RELEASE NOTICE. Officer
acknowledges that the terms of this Agreement fully comply with the Older Workers’ Benefit Protection Act of 1990. Officer understands and agrees that he is irrevocably waiving his rights under the ADEA and thus: 

a. Officer has been informed and understands and agrees that he has been given adequate time, up to a period of at least twenty-one
(21) calendar days, to consider this Agreement and whether to sign it. Officer further understands that he may use as much or all of this 21-day period as he wishes before signing, and represents that he has done so. 

b. Officer has been informed and understands and agrees that he may revoke this Agreement at any time during the seven (7) calendar days
after it is signed and returned to the Company, in which case none of the provisions of this Agreement will have any effect. Officer acknowledges and agrees that if he wishes to revoke this Agreement, he must do so in writing, and that such
revocation must be signed by Officer and received by the General Counsel of the Company no later than the seventh (7th) day after Officer has signed this Agreement. Officer acknowledges and agrees that any payments hereunder shall not be
made before the expiration of this seven-day revocation period. 
 c. Officer agrees that prior to signing this Agreement, he read
and understood each and every provision of the document. 
 d. Officer understands and agrees that he has been advised in this writing to
consult with an attorney of his choice concerning the legal consequences of this Agreement, and Officer hereby acknowledges that prior to signing this Agreement he had the opportunity to consult, and did consult, with an attorney of his
choosing regarding the effect of each and every provision hereof. 
 e. Officer acknowledges and agrees that he knowingly and voluntarily
entered into this Agreement with complete understanding of all relevant facts, and that he was neither fraudulently induced nor coerced to enter into this Agreement. 

f. Officer understands that he is not waiving, releasing or otherwise discharging any claims under the ADEA that may arise after the date he
signs this Agreement. 
 6. COMPANY RELEASE OF CLAIMS. The Company hereby forever releases and discharges the Officer and his affiliates, successors,
and assigns, as well as each of their 

  
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respective officers, directors, partners, principals, members, trustees, employees, agents, attorneys, and shareholders, and all predecessors, successors, heirs and assigns thereof (collectively,
the “Officer Released Parties”), from any and all claims, charges, complaints, liens, demands, causes of action, obligations, damages, and liabilities, of any nature whatsoever, known or unknown, suspected or unsuspected, that the
Company had, now has, or may hereafter claim to have against the Officer Released Parties for any alleged act or omission which occurred on or at any time before the Separation Date that arise out of or relate in any way to Officer’s employment
with, or resignation or retirement from, the Company or its parents, subsidiaries, or affiliates or that arise out of or relate to Officer’s purchase or ownership of stock in the Company or its parents, subsidiaries, or affiliates (the
“Company’s Release”); provided, however, that Company’s Release does not waive, release or otherwise discharge any claim or cause of action to enforce any of the Company’s rights under this Agreement.
For the purpose of implementing a full and complete release, the Company understands and agrees that this Agreement is intended to include all claims, if any, which the Company may have and which the Company does not now know or suspect to exist in
its favor against the Officer Released Parties and this Agreement extinguishes those claims. Accordingly, the Company expressly waives all rights afforded by any state statute or regulation in any other applicable jurisdiction that limits the
enforceability or effectiveness of releases of such claims. 
 7. COVENANTS BY OFFICER. In consideration, and as a condition, of the performance
by the Company of its obligations described in this Agreement, Officer agrees as follows: 
 a. All information relating to or used in the
business and operations of the Company and its subsidiaries and corporate affiliates (including, without limitation, marketing methods and procedures, customer lists, lists of professionals referring customers to the Company and its subsidiaries and
corporate affiliates, sources of supplies and materials and business systems and procedures), whether prepared, compiled, developed or obtained by Officer or by the Company or any of its subsidiaries or corporate affiliates before or during
Officer’s employment with the Company or any of its subsidiaries or corporate affiliates, are and shall be confidential information and trade secrets (“Confidential Information”) and the exclusive property of the Company, its
subsidiaries and corporate affiliates. Confidential Information does not include information which (i) is or was already in Officer’s possession before commencement of his employment with the Company or any of its subsidiaries or corporate
affiliates, (ii) is or becomes generally available to the public other than as a result of a disclosure by Officer or (iii) becomes available to Officer on a non-confidential basis from a source other than the Company or any of its
subsidiaries or corporate affiliates, provided that such source is not known by Officer to be bound by a confidentiality agreement or other obligation of secrecy with respect to such information. 

b. All records of and materials relating to Confidential Information, whether in written form or in a form produced or stored by any
electrical or mechanical means or process and whether prepared, compiled or obtained by Officer or by the Company or any of its subsidiaries or corporate affiliates before or during Officer’s employment with the Company or any of its
subsidiaries or corporate affiliates, are and shall be the exclusive property of the Company or its subsidiaries or corporate affiliates, as the case may be. Notwithstanding the foregoing, Officer may retain the contacts information and email in
electronic form in use by him as of the Separation Date. 

  
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 c. Except as the Company may expressly authorize or direct in writing, Officer shall not copy,
reproduce, disclose or divulge to others, use or permit others to see any Confidential Information or any records of or materials relating to any Confidential Information. Officer further agrees that he shall not remove from the custody or control
of the Company or its subsidiaries or corporate affiliates any records of or any materials relating to Confidential Information and that, to the extent he has any such records or materials in his possession, he shall deliver the same to the Company
promptly following the Separation Date. 
 d. Other than the Company laptop used by Officer, and as the Company may expressly authorize or
direct in writing, Officer shall return to the Company all hard copy and electronic documents (and all copies thereof) and other property belonging to the Company, its subsidiaries and/or affiliates that Officer has in his possession at any time,
including, but not limited to, files, notes, notebooks, correspondence, memoranda, agreements, drawings, records, business plans, forecasts, financial information, specifications, computer-recorded information, tangible property, credit cards, entry
cards, identification badges, keys, and any materials of any kind that contain or embody any Confidential Information of the Company, its subsidiaries or affiliates (and all reproductions thereof in whole or in part). If Officer discovers after the
Separation Date that he has retained any Confidential Information (including, but not limited to, Confidential Information contained in any electronic documents, unless retention has been permitted, in Officer’s possession or control), Officer
agrees to immediately inform the Company of the nature and location of the Confidential Information that he has retained so that the Company may arrange to remove, recover, and/or collect such information. 

8. CONSULTING AGREEMENT. Officer and Company agree to execute and deliver a Consulting Agreement in form and substance attached as Exhibit
“A.” 
 9. MUTUAL NON-DISPARAGEMENT. Following the Separation Date, (i) Officer will not knowingly disparage or make any
derogatory statements regarding the Company, its directors, or its officers, and will not participate in the making of or encourage or facilitate any other person to make any such derogatory statements and (ii) the Company will not knowingly
disparage or make any derogatory statements regarding Officer or encourage or facilitate any other person to make any such derogatory statements; provided, however, that the Company’s obligations shall be limited to communications
by its senior corporate executives having the rank of Vice President or above and members of the Board; provided, further, that the foregoing restrictions shall not apply to any statements by Officer or the Company that are made
truthfully in response to a subpoena or as otherwise required by applicable law or other compulsory legal process. 
 10. NON-SOLICITATION. For a
period of twelve (12) months following the Separation Date, Officer will not, directly or indirectly, and will not assist anyone else to, (a) solicit any person employed by the Company or its affiliates to voluntarily leave the employ of
the Company or its affiliates, or any agent of the Company or any of its affiliates to cease being an agent of any such entity, nor will Officer in any manner seek to engage or employ any such Company employee (whether or not for compensation) as an
officer, employee, consultant, agent, adviser or independent contractor for any other person or (b) solicit, encourage or induce any independent contractor providing services to the Company or its affiliates to terminate or diminish in any
substantial respect its relationship with the Company or its affiliates The foregoing restrictions shall not apply to general solicitation or advertising, including through search firms, that is not specifically targeted at any such persons. 

  
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 11. COOPERATION. Following the Separation Date, Officer shall reasonably and in good faith cooperate
with the Company in connection with the following (the “Cooperative Services”): (i) the Federal Trade Commission’s and the State of Hawaii’s review of the Transaction, including but not limited to any litigation,
appeals or further administrative review; (ii) the Company’s recruitment and hiring of Jim Yates; and (iii) any investigation or review by the Company, its subsidiaries or corporate affiliates, or any federal, state or local
regulatory, quasi-regulatory or self-governing authority as any such investigation or review relates to events or occurrences that transpired while Officer was employed by the Company and in respect of which Officer has knowledge. 

12. INDEMNIFICATION. Subject to applicable law, the Company will provide indemnification to the Officer to the maximum extent permitted by the
General Corporation Law of Delaware, the Company’s Bylaws and Certificate of Incorporation, including coverage, if applicable, under Officer’s Indemnification Agreement with the Company dated September 13, 2013 (the
“Indemnification Agreement”), and any directors and officers insurance policies, with such indemnification determined by the Board or any of its committees in good faith based on principles consistently applied (subject to such limited
exceptions as the Board may approve in cases of hardship) and on terms no less favorable than those provided to any other Company executive officer or director. 

13. TAX MATTERS; SECTION 409A. The amounts and benefits payable hereunder are intended to qualify for an exemption from, or alternatively to
comply with, the provisions of Section 409A of the Internal Revenue Code of 1986 (the “Code”), as amended, and this Agreement shall be interpreted and construed consistently with such intent. In the event that the terms of this
Term Sheet would subject Officer to taxes or penalties under Section 409A of the Code (“409A Penalties”), the Company and Officer shall cooperate to amend the terms hereof to avoid such 409A Penalties, to the extent possible;
provided, however, that in no event shall the Company be responsible for any 409A Penalties. 
 14. ARBITRATION. The Parties agree
that any and all disputes arising out of the terms of this Agreement, Officer’s employment by the Company, Officer’s service as an officer of the Company, or Officer’s compensation and benefits, their interpretation, and any of the
matters herein released, will be subject to binding arbitration in Houston, Texas under the American Arbitration Association’s National Rules for the Resolution of Employment Disputes, before an arbitrator who is licensed to practice
law. The Parties agree that the prevailing party in any arbitration will be entitled to have a judgment entered on such arbitration award by any court of competent jurisdiction, including any injunctive relief necessary to enforce the
arbitration award. The Parties agree to waive their right to have any dispute between them resolved in a court of law by a judge or jury. This paragraph will not prevent either party from seeking injunctive relief (or any other provisional
remedy) from any court having jurisdiction over the Parties. Notwithstanding the above provision, nothing herein shall preclude (i) the Company from seeking immediate relief, whether equitable or otherwise, from a court of competent
jurisdiction, for the purpose of enforcing Sections 7, 9 or 10 of this Agreement, or for raising related claims or (ii) the Officer from seeking immediate relief, whether equitable or otherwise, from a court of competent jurisdiction, for the
purpose of enforcing Section 9 or for raising related claims. 

  
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 15. GOVERNING LAW AND INTERPRETATION. This Agreement, and all rights, duties, and remedies hereunder,
shall be governed by, and construed and enforced in accordance with, the laws of the State of Texas, without reference to its choice of law rules, except as preempted by federal law. The language of this Agreement shall be construed as a whole,
according to its fair meaning, and shall not be construed strictly for or against either of the Parties. If this Agreement is submitted to arbitration, the arbitrator shall be bound by the governing law. 

16. SUCCESSORS AND ASSIGNS. This Agreement will be binding upon and inure to the benefit of (a) the heirs, executors, and legal
representatives of Officer upon Officer’s death, and (b) any successor of the Company. Any such successor of the Company will be deemed substituted for the Company under the terms of this Agreement for all purposes. For this
purpose, “successor” means any person, firm, corporation, or other business entity which at any time, whether by purchase, merger, or otherwise, directly or indirectly acquires all or substantially all of the assets or business of the
Company. None of the rights of Officer to receive any benefit or any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of descent and distribution. Any other attempted
assignment, transfer, conveyance, or other disposition of Officer’s right to compensation or other benefits will be null and void. 
 17.
AMENDMENTS. This Agreement may not be amended or modified other than by a written instrument signed by an authorized representative of the Company and Officer. 

18. DESCRIPTIVE HEADINGS. The section headings contained herein are for reference purposes only and shall not in any way affect the meaning or
interpretation of this Agreement. 
 19. COUNTERPARTS. This Agreement may be executed in two or more counterparts, each of which shall be deemed
an original, but all of which shall constitute one and the same instrument. Facsimile and .pdf signatures will suffice as original signatures. 
 20.
NOTICES. All notices hereunder shall be in writing and delivered personally or sent by United States registered or certified mail, postage prepaid and return receipt requested: 

If to the Company: 
 Attn: General
Counsel 
 Par Petroleum Corporation 

800 Gessner Road, Suite 875 

Houston, TX 77024 
 If to the
Officer: 
 Peter Coxon 
 6823
Prairie Dunes Drive 
 Houston, TX 77069. 

  
 8 

 Either Party may designate such other address for notice purposes by providing written notice of
such new address to the other Party. 
 21. ENTIRE AGREEMENT. This Agreement, the Consulting Agreement, and the Indemnity Agreement set forth
the entire agreement and understanding of the Parties relating to the subject matter hereof and merges and supersedes all prior discussions, agreements, and understandings of every kind and nature between the Parties hereto, and neither Party shall
be bound by any term or condition other than as expressly set forth or provided for in this Agreement. 
 22. WAIVER OF BREACH. The waiver of a
breach of any term or provision of this Agreement, which must be in writing, will not operate as or be construed to be a waiver of any other previous or subsequent breach of this Agreement. 

23. SEVERABILITY. If any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable, or void, this
Agreement will continue in full force and effect without said provision; provided, however, that if the Officer’s Release becomes or is so declared to be illegal, unenforceable, or void, the Company shall be relieved of its obligation to
provide any of the consideration set forth in Section 2 of this Agreement. 
 IN WITNESS WHEREOF, the Parties have executed this
Agreement as of the Separation Date. 
  

			
	COMPANY:
	
	PAR PETROLEUM CORPORATION
		
	By:	 	 /s/ William Monteleone

	Name:	 	William Monteleone
	Title:	 	Chief Executive Officer
	
	OFFICER:
	
	PETER COXON
		
	By:	 	 /s/ Peter Coxon

	Name:	 	Peter Coxon

  
 9

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