Document:

EX-10.1

[LOGO]

Exhibit 10.1

GLATFELTER

Restricted Stock Unit Award Certificate

______________________________________________________________________________

	 	 	 	 	 
	Award Number: 2013-DCP

	 	 Award Date:
	 	December 12, 2013
	Number of Restricted Stock Units: 100,000

	 	Vesting Date:
	 	December 12, 2018

THIS CERTIFIES THAT Glatfelter (the “Company”) has on the Award Date specified above granted
to

Dante C. Parrini

(the “Participant”) an award (the “Award”) to receive that number of Restricted Stock Units
(the “RSUs”) indicated above in the box labeled “Number of Restricted Stock Units,” each RSU
representing the right to receive one share of the Company’s common stock, $.01 par value per share
(the “Common Stock”), subject to certain restrictions and on the terms and conditions contained in
this Award Certificate and the Company’s Amended and Restated Long-Term Incentive Plan, as amended
effective May 9, 2013 (the “Plan”). In the event of any conflict between the terms of the Plan and
this Award Certificate, the terms of the Plan shall prevail. Any capitalized terms not defined
herein shall have the meaning set forth in the Plan.

* * * *

	1.	 	Rights of the Participant with Respect to the Restricted Stock Units.

(a) No Shareholder Rights. The RSUs granted pursuant to the Award do not and shall not
entitle the Participant to any rights of a holder of Common Stock. The rights of the Participant
with respect to the RSUs shall remain forfeitable at all times prior to the date on which such
rights become vested, in accordance with Section 2, 5 or 6.

(b) Dividend Equivalents. During the period from the Award Date to the issue of shares
of Common Stock in accordance with Section 1(c), the Participant shall be credited with deemed
dividends (a “Deemed Dividend”) in an amount equal to each cash dividend payable subsequent to the
Award Date, just as though such Participant, on the record date for payment of such dividend, had
been the holder of record of shares of Common Stock equal to the number of RSUs represented by this
Award Certificate. The Deemed Dividends will be converted to additional RSUs, rounded down to the
nearest whole number, by dividing the Deemed Dividends by the Fair Market Value of one share of
Common Stock on the date the cash dividend to which it relates is paid. The Company shall establish
a bookkeeping account to account for the Deemed Dividends and additional RSUs to be credited to the
Participant. The additional RSUs represented by Deemed Dividends are subject to the same vesting
requirements (see Section 2) as the Award, including without limitation the requirement that the
applicable Performance Goals described herein have been achieved.

(c) Conversion of Restricted Stock Units; Issuance of Common Stock. No shares of
Common Stock shall be issued to the Participant prior to the date on which the RSUs vest, in
accordance with Section 2, 5 or 6. Neither this Section 1(c) nor any action taken pursuant to or in
accordance with this Section 1(c) shall be construed to create a trust of any kind. After vesting
takes place pursuant to Section 2, 5 or 6, the Company shall cause to be issued as soon as
practicably possible, but in no event later than thirty (30) days following the date of vesting
(subject to section 8(a)), in book-entry form, registered in the Participant’s name or in the name
of the Participant’s legal representatives, beneficiaries or heirs, as the case may be, in payment
for such RSUs that number of shares of Common Stock equal to the number of vested RSUs.

2. Vesting. 100% of the total amount of RSUs awarded shall vest on the fifth anniversary of
the Award Date, provided the Participant remains continuously employed by the Company as Chief
Executive Officer until the said vesting date, and provided the Company achieves the Company
performance goals set forth below (the “Performance Goals”). Except as provided in Sections 5 or 6
hereof, if the Participant should, prior to the fifth anniversary of the Award Date, have a
Separation from Service or otherwise cease to serve in the position of Chief Executive Officer of
the Company, the RSUs shall, upon the occurrence of such event, be forfeited and no shares of
common stock shall be issued to the Participant.

3. Performance Goals. The Company must earn one dollar of operating income in any of
the fiscal years contained within the vesting period in order for the Award to fully vest and for
the restrictions on the Award to lapse. For purposes of this paragraph, operating income is to be
calculated in the same manner as operating income is calculated in the Company’s consolidated
financial data reported on Form 10-K.

4. Determination of Achievement of Performance Goals. Following the Vesting Date, the
Board shall determine whether the Performance Goals have been achieved and the number of RSUs, if
any, that have fully vested.

5. Early Vesting upon Separation following Change in Control. Notwithstanding the vesting
provision contained in Section 2, but subject to the other terms and conditions set forth herein,
including Section 9 hereof, and provided that the Participant is serving as Chief Executive Officer
of the Company immediately prior to a Change in Control, as hereinafter defined, in the event of
the Participant’s (i) involuntary Separation from Service by the Company other than for Cause or
(ii) voluntary Separation from Service for Good Reason, which occurs during the Participant’s
Employment Period, as hereinafter defined, following a Change in Control, all of the RSUs shall
become immediately and unconditionally vested.

	6.	 	Forfeiture or Early Vesting upon Separation from Service.

(a) Separation from Service Generally. If, prior to vesting of the RSUs pursuant to
Section 2 or 5, the Participant has a Separation from Service with of the Company or any of its
subsidiaries for any reason (voluntary or involuntary), other than death or Disability, then such
nonvested RSUs shall be immediately and irrevocably forfeited. If, subsequent to vesting of the
RSUs, the Participant is terminated for Cause, all outstanding RSUs, whether vested or nonvested,
shall be immediately and irrevocably forfeited.

(b) Death or Disability. Provided that the Participant is serving as Chief Executive
Officer of the Company immediately prior to such event, upon the Separation from Service due to
death of the Participant, or the termination of service of the Participant due to Disability
(whether or not a Separation from Service), then all unvested RSUs shall accelerate and become
fully vested, and the restrictions and conditions on such RSUs shall immediately lapse. In
accordance with the payment provisions of Section 7(d) of the Plan (subject to Section 8 hereof),
the Company shall cause to be issued, in book-entry form, registered in the Participant’s name or
in the name of the Participant’s legal representatives, beneficiaries or heirs, as the case may be,
in payment for the vested RSUs that number of shares of Common Stock equal to the number of vested
RSUs.

(c) Vesting upon Early Retirement. In the event of the Participant’s Retirement or
Early Retirement, then an amount of unvested RSUs shall vest equal to a percentage, the numerator
of which equals the number of days that have elapsed as of the date in the applicable restriction
period on which Retirement or Early Retirement commenced, and the denominator of which equals the
total number of days in such applicable restriction period, rounded down to the nearest whole
Share. Restrictions on all vested RSUs will lapse on the Vesting Date and be paid out in
accordance with the payment provisions set forth in Section 7(d) of the Plan.

7. Restriction on Transfer. The RSUs and any rights under the Award may not be sold,
assigned, transferred, pledged, hypothecated or otherwise disposed of by the Participant, and any
such purported sale, assignment, transfer, pledge, hypothecation or other disposition of RSUs or
other rights under the Award shall be void and unenforceable against the Company and shall result
in the immediate forfeiture of such RSUs and rights. Notwithstanding the foregoing, the Participant
may, in the manner established by the Compensation Committee, designate a beneficiary or
beneficiaries to exercise the rights of the Participant and receive any shares of Common Stock
issued or any cash paid with respect to the RSUs upon the death of the Participant.

8. Tax Matters; Compliance with Code section 409A.

(a) Distributions of Common Stock in payment for RSUs as described herein which represent a
“deferral of compensation” within the meaning of Code section 409A shall conform to the applicable
requirements of Code section 409A including, without limitation, the requirement that a
distribution to a Participant who is a “specified employee” within the meaning of Code section
409A(a)(2)(B)(i) which is made on account of the specified employee’s Separation from Service shall
not be made before the date which is six (6) months after the date of Separation from Service.
However, distributions as aforesaid shall not be deemed to be a “deferral of compensation” subject
to Code section 409A to the extent provided in the exception in Treasury Regulation Section
1.409A-1(b)(4) for short-term deferrals.

(b) In order to comply with all applicable federal, state and local tax laws or regulations,
the Company may take such actions as it deems appropriate to ensure that all applicable federal,
state and local payroll, withholding, income or other taxes are withheld or collected from the
Participant.

(c) In accordance with the terms of the Plan, and such rules as may be adopted by the
Compensation Committee under the Plan, the Participant may elect to satisfy the Participant’s
federal, state and local tax withholding obligations arising from the receipt of, the vesting of or
the lapse of restrictions relating to, the RSUs, by (i) delivering cash, check or money order
payable to the Company, or (ii) having the Company withhold a portion of the shares of Common Stock
otherwise to be delivered having a Fair Market Value equal to the amount of such taxes. The Company
will not deliver any fractional share of Common Stock but will instead round down to the next full
number the amount of shares of Common Stock to be delivered. The Participant’s election must be
made on or before the date that any such withholding obligation with respect to the RSUs arises. If
the Participant fails to timely make such an election, the Company shall have the right to withhold
a portion of the shares of Common Stock otherwise to be delivered having a Fair Market Value equal
to the amount of such taxes.

9. Change in Control; Value Restoration Payment. In the event of a Change in Control in
which the Company’s stock is no longer the stock of the surviving entity, the Company shall cause
the surviving entity to issue replacement RSUs (“Replacement RSUs”). The number of Replacement RSUs
to be issued shall be calculated based on the fair market value of the Company’s Common Stock at
the date of the Change in Control divided by the fair market value of the surviving entity’s common
stock on such date. If such replacement RSUs are not issued for any reason, or if the common stock
of the surviving entity is not publicly traded at the date of the Change in Control, then,
notwithstanding the provisions of Section 5, all RSUs shall vest in full upon the occurrence of the
Change in Control.

The terms and provisions of this Certificate shall continue to apply to the Replacement RSUs upon
issuance, including, without limitation, Section 5. In addition, the Participant shall be entitled
to receive, with respect to Replacement RSUs that vest on each vesting date a value restoration
payment with respect to such Replacement RSUs (a “Value Restoration Payment”). The Value
Restoration Payment shall be equal to the difference between the fair market value of the surviving
entity’s common stock on the date of the Change in Control and, if less, the fair market value of
the surviving entity’s common stock on the date of vesting (including the date of accelerated full
vesting, if applicable, in the event of termination as described in Section 5). For example, if the
surviving entity’s common stock fair market value is $20.00 per share on the date of the Change in
Control and is $15.00 per share on the date of vesting, the Participant shall be entitled to
receive a Value Restoration Payment equal to $5.00 per Replacement RSU with respect to each
Replacement RSU vesting on such vesting date. Any such Value Restoration Payment shall include
interest (at the prime rate of interest of the Company’s principal bank in effect on the vesting
date for the period between the date of the Change in Control and the applicable vesting date), and
shall be paid in cash within thirty (30) days after the applicable vesting date.

10. Miscellaneous.

(a) The Award does not confer on the Participant any right with respect to the continuance of
any relationship with the Company or its subsidiaries, nor will it interfere in any way with the
right of the Company to terminate such relationship at any time.

(b) The Company shall not be required to deliver any shares of Common Stock upon vesting or
lapse of restrictions of any RSUs until the requirements of any federal or state securities laws,
rules or regulations or other laws or rules (including the rules of any securities exchange) as may
be determined by the Company to be applicable are satisfied.

(c) An original record of the Award and all the terms thereof, executed by the Company, shall
be held on file by the Company. To the extent there is any conflict between the terms contained in
the Award Certificate and the terms contained in the original record held by the Company, the terms
of the original record held by the Company shall control.

11. Definitions.

(a) “Board” shall mean the Board of Directors of the Company.

(b) “Cause” shall have the meaning set forth in the Company’s “Guidelines for Executive
Severance,” as they exist in the Participant’s Separation from Service.

(c) “Change in Control.” shall have the meaning set forth in the Participant’s Change in
Control Employment Agreement.

(d) "Code” shall mean the Internal Revenue Code of 1986, as amended.

(e) "Committee” shall mean the Compensation Committee of the Board as defined in the
Compensation Committee Charter.

(f) “Disability” shall have the meaning set forth in the Plan.

(g) “Early Retirement” shall mean the retirement of an employee from employment with the
Company and all affiliates on or after attaining age 55 with ten (10) years of service.

(h) “Employment Period” shall have the meaning set forth in the Participant’s Change in
Control Employment Agreement.

(i) “Fair Market Value” shall have the meaning set forth in the Plan.

(j) “Good Reason” shall have the meaning set forth in the Participant’s Change in Control
Agreement; provided however, that Participant’s resignation from employment shall not be treated as
being for Good Reason unless it otherwise satisfies the requirements for a “safe harbor”
termination for a good reason set forth in Treasury Regulation Section 1.409A-1(n)(2)(ii) or any
successor thereto.

(k) “Retirement” shall mean the retirement of an employee from employment with the Company and
all affiliates on or after attaining age 65, or on or after attaining age 62 with ten (10) years of
service.

(l) “Separation from Service” shall have the meaning set forth in the Plan.

A copy of the Amended and Restated Long-Term Incentive Plan is attached to this Certificate.

P. H. GLATFELTER COMPANY

 /s/ William T Yanavitch II

William T. Yanavitch II

Vice President, Human Resources and Administration

By my signature below, I hereby acknowledge receipt of this Award Certificate on the date shown
above, which has been issued to me under the terms and conditions of the Plan. I further
acknowledge receipt of the copy of the Plan and agree to conform to all of the terms and conditions
of the Award Certificate and the Plan.

	 	 	 	 	 	 	 
	Signature:
	 	/s/ Dante C. Parrini

	 	Date:
	 	December 17, 2013
	 	 	 

	 	 	 	 
	 	 	Dante C. ParriniEX 10.4-DK--WellsABLAmendmentRedactedforEDGAR10QA

Exhibit 10.4
A REQUEST FOR CONFIDENTIAL TREATMENT HAS BEEN MADE WITH RESPECT TO PORTIONS OF THE FOLLOWING DOCUMENT THAT ARE MARKED ‘[*CONFIDENTIAL*]’

[Execution]

AMENDMENT NO. 2 TO CREDIT AGREEMENT AND CONSENT
THIS AMENDMENT NO. 2 TO CREDIT AGREEMENT AND CONSENT (this “Amendment No. 2”), is entered into as of July 16, 2013, by and among the lenders identified on the signature pages hereto (each individually, a “Lender” and collectively, the “Lenders”), WELLS FARGO CAPITAL FINANCE, LLC, a Delaware limited liability company, as administrative agent for the Lenders (in such capacity, “Agent”), DELEK REFINING, LTD., a Texas limited partnership (“Delek Refining” and, together with any other Person that may from time to time become a party to the Credit Agreement as a Borrower, individually each, a “Borrower and collectively, “Borrowers”), DELEK REFINING, INC., a Delaware corporation (“Parent”) and DELEK U.S. REFINING GP, LLC, a Texas limited liability company (“Delek GP” and, together with Parent, individually each, a “Guarantor” and collectively, “Guarantors”).

W I T N E S S E T H:

WHEREAS, Agent and Lenders have entered into financing arrangements with Borrower and Guarantors pursuant to which Lenders have made loans and advances and provided other financial accommodations to Borrower as set forth in the Credit Agreement, dated February 23, 2010, among Agent, Lenders, Borrowers and Parent, as amended by Amendment No. 1 to Credit Agreement, dated April 29, 2011, among Agent, Lenders, Borrowers and Parent (as the same now exists and may hereafter be  further amended, modified, supplemented, extended, renewed, restated or replaced, the “Credit Agreement”) and the other agreements, documents and instruments referred to therein or any time executed in connection therewith or related thereto, including this Amendment No. 2 (all of the foregoing, together with the Credit Agreement, as the same now exist or may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced, being collectively referred to herein as the “Loan Documents”); and

WHEREAS, Borrowers and Guarantors have requested that Agent and Lenders make certain amendments to the Credit Agreement and provide certain consents thereunder, and Agent and the Required Lenders party hereto are willing to make such amendments and provide such consents, subject to the terms and conditions contained herein.

NOW, THEREFORE, in consideration of the premises and covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1.DEFINITIONS AND CONSTRUCTION.
1.1    Additional Definitions.  As used herein, the following terms shall have the meanings given to them below and the Credit Agreement and the other Loan Documents are hereby amended to include, in addition and not in limitation, the following definitions:
(a)    “Amendment No. 2” means Amendment No. 2 to Credit Agreement and Consent, dated July 16, 2013, by and among Agent, the Required Lenders party thereto, Borrowers and Guarantors, 

as the same now exists or may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced.
(b)    “Amendment No. 2 Effective Date” means the date on which each of the conditions precedent set forth in Section 4 of Amendment No. 2 shall have been satisfied or waived in accordance with the terms of Amendment No. 2.
(c)    “Delek Logistics” means Delek Logistics Partners, LP, a Delaware limited partnership.
(d)    [*CONFIDENTIAL*]
(e)    “Reference Period” means any period of twelve (12) consecutive fiscal months.
(f)    “Special Asset Disposition Capital Expenditures” means in the aggregate, with respect to both the Tyler Tanks Disposition and the Tyler Terminal Disposition, $5,620.77 multiplied by the number of days from and including the first day of the applicable Reference Period through the day prior to the Special Asset Disposition Date with respect to the Tyler Tanks Disposition and the Tyler Terminal Disposition.
(g)    “Special Asset Disposition Date” means the date on which any Special Asset Disposition is consummated.
(h)    “Special Asset Disposition Documents” means, collectively, the Tyler Tanks Disposition Documents , the Tyler Terminal Disposition Documents and the WTG-Tyler Disposition Documents; each sometimes referred to individually as a “Special Asset Disposition Documents”.
(i)    “Special Asset Disposition EBITDA” means, (a) for the Tyler Tanks Disposition, $9,983.36 multiplied by the number of days from and including the first day of the applicable Reference Period through the day prior to its Special Asset Disposition Date, (b) for the Tyler Terminal Disposition, $16,102.60 multiplied by the number of days from and including the first day of the applicable Reference Period through the day prior to its Special Asset Disposition Date and (c) for the WTG-Tyler Disposition, $0.0 with respect to any fiscal period.
(j)    “Special Asset Disposition Dividends” means dividends paid by Parent to its shareholders solely with proceeds of the Special Asset Dispositions.
(k)    “Special Asset Dispositions” means, collectively, the Tyler Tanks Disposition, the Tyler Terminal Disposition and the WTG-Tyler Disposition; each sometimes referred to individually as a “Special Asset Disposition”. 
(l)    “Tyler Tanks Assets” means, generally, certain of Borrowers' storage tanks located at Borrower's refinery in Tyler, Texas, together with certain related assets, as more particularly described in the Tyler Tanks Disposition Documents.
(m)    “Tyler Tanks Disposition” means the sale of the Tyler Tanks Assets pursuant to and in accordance with the terms of the Tyler Tanks Disposition Documents.
(n)    “Tyler Tanks Disposition Documents” means the asset purchase agreement to be entered into by and between one or more of the Borrowers, as seller(s), and Delek Logistics and/or one or 

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more of Delek Logistics' subsidiaries, as purchaser(s) of the Tyler Tanks Assets, together with all agreements, documents and instruments executed and/or delivered in connection therewith or in furtherance thereof, each of which shall, in form and substance reasonably satisfactory to Agent, contain economic terms substantially consistent with or better than those described in the financial due diligence, projections, and other materials with respect thereto provided by Borrower to Agent.
(o)    “Tyler Terminal Assets” means, generally, the refined products terminal located at Borrower's refinery in Tyler, Texas, consisting of a truck loading rack with multiple loading bays supplied by pipeline from storage tanks located at Borrowers' refinery located in Tyler, Texas, together with certain related assets, as ultimately and more particularly described in the Tyler Terminal Disposition Documents.
(p)    “Tyler Terminal Disposition” means the sale of the Tyler Terminal Assets pursuant to and in accordance with the terms of the Tyler Terminal Disposition Documents.
(q)    “Tyler Terminal Disposition Documents” means the asset purchase agreement to be entered into by and between one or more of the Borrowers, as seller(s), and Delek Logistics and/or one or more of Delek Logistics' subsidiaries, as purchaser(s) of the Tyler Terminal Assets, together with all agreements, documents and instruments executed and/or delivered in connection therewith or in furtherance thereof, each of which shall, in form and substance reasonably satisfactory to Agent, contain economic terms substantially consistent with or better than those described in the financial due diligence, projections, and other materials with respect thereto provided by Borrower to Agent.
(r)    “WTG-Tyler Assets” means that storage tank presently anticipated to be constructed in the general vicinity of Borrower's refinery located in Tyler, Texas, together with certain related assets, as ultimately and more particularly described in the WTG-Tyler Disposition Documents.
(s)    “WTG-Tyler Disposition” means the sale of the WTG-Tyler Assets pursuant to and in accordance with the terms of the WTG-Tyler Disposition Documents.
(t)    “WTG-Tyler Disposition Documents” means the asset purchase agreement to be entered into by and between one or more of the Borrowers, as seller(s), and Delek Logistics and/or one or more of Delek Logistics' subsidiaries, as purchaser(s) of the WTG-Tyler Assets, together with all agreements, documents and instruments executed and/or delivered in connection therewith or in furtherance thereof, each of which shall, in form and substance reasonably satisfactory to Agent, contain economic terms substantially consistent with or better than those described in the financial due diligence, projections, and other materials with respect thereto provided by Borrower to Agent.
1.2    Amendment to Definitions. 
(a)    The definition of “Capital Expenditures” set forth in Schedule 1.1 to the Credit Agreement is hereby amended by deleting such definition in its entirety and replacing it with the following:  
“ ‘Capital Expenditures’ means, with respect to any period, the additions to property, plant and equipment and other expenditures of Parent, Borrowers or any of their respective Subsidiaries that are (or would be) set forth on a consolidated statement of cash flows of the Borrowers or Parent for such period prepared in accordance with GAAP as capital expenditures; provided, however, that (a) expenditures for or in respect of a 

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Permitted Acquisition shall not constitute Capital Expenditures, and (b) Capital Expenditures shall not include Special Asset Disposition Capital Expenditures.”
(b)    The definition of “EBITDA” set forth in Schedule 1.1 to the Credit Agreement is hereby amended by deleting such definition in its entirety and replacing it with the following:  
“ ‘EBITDA’ means, with respect to any fiscal period, Parent’s consolidated net earnings (or loss), minus extraordinary gains (including gains resulting from the Special Asset Disposition), the positive amount, if any, of Special Asset Disposition EBITDA, other non-cash gains and interest income, plus non-cash extraordinary losses (including losses resulting from the Special Asset Disposition), other non-cash expenses or losses, Interest Expense, income taxes, and depreciation and amortization for such period, in each case, determined on a consolidated basis in accordance with GAAP.  For the purposes of calculating EBITDA for any Reference Period, if at any time during such Reference Period (and after the Closing Date), Parent or any of its Subsidiaries shall have made a Permitted Acquisition, EBITDA for such Reference Period shall be calculated after giving pro forma effect thereto (including pro forma adjustments arising out of events which are directly attributable to such Permitted Acquisition, are factually supportable, and are expected to have a continuing impact, in each case determined on a basis consistent with Article 11 of Regulation S-X promulgated under the Securities Act and as interpreted by the staff of the SEC) or in such other manner acceptable to Agent as if any such Permitted Acquisition or adjustment occurred on the first (1st) day of such Reference Period.”
(c)    The definition of “Fixed Charges” set forth in Schedule 1.1 to the Credit Agreement is hereby amended by deleting such definition in its entirety and replacing it with the following:  
“ ‘Fixed Charges’ means, with respect to any fiscal period and with respect to Parent determined on a consolidated basis in accordance with GAAP, the sum, without duplication, of (a) Interest Expense paid in cash during such period (other than Interest Expense paid in cash with respect to Permitted Subordinated Indebtedness), (b) principal payments in respect of Indebtedness (other than Permitted Subordinated Indebtedness and Hedge Agreements) that are required to be paid during such period to the extent accompanied by a permanent reduction of commitments thereunder, other than any prepayments of obligations under the Existing Credit Facility in connection with the closing and funding of Obligations under the Agreement, (c) all Restricted Junior Payments paid in cash during such period (other than the Special Asset Disposition Dividends), and (d) the amount, if any, by which the obligations owing from Lion to Loan Parties in connection with intercompany loans permitted under clause (e) of the definition of “Permitted Intercompany Advances” and Letters of Credit issued for the benefit of creditors of Lion and/or in support of certain insurance and workers compensation or other obligations in respect of its business exceeds the then aggregate amount of Loans available to be made and Letters of Credit available to be issued under the following components of the Borrowing Base (without giving effect to the Maximum Credit): (i) clauses (a) and (c) of the definition of Borrowing Base, (ii) the portion of clause (d) of the definition of Borrowing Base attributable to Purchased Lion Accounts and (iii) the portion of clause (h) of the definition of Borrowing Base attributable to Standby Letters of Credit issued to support the purchase of Petroleum Inventory of Lion.”

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(d)    The definition of “Permitted Dispositions” set forth in Schedule 1.1 to the Credit Agreement is hereby amended by deleting clause (o) thereof in its entirety and replacing it with the following:
“(o) dispositions of (i) assets (other than Accounts, intellectual property, licenses, Equity Interests of Subsidiaries of Borrowers, or Material Contracts) not otherwise permitted in clauses (a) through (m) above so long as made at fair market value and the aggregate fair market value of all assets disposed of in all such dispositions since the Closing Date (including the proposed disposition) would not exceed $1,000,000 in any fiscal year of Parent and its Subsidiaries and (ii) the Special Asset Dispositions.”
(e)    The definition of “Permitted Liens” set forth in Schedule 1.1 to the Credit Agreement is hereby amended by deleting “and” at the end of clause (n) thereof, deleting the period at the end of clause (n) thereof and replacing the same with “,and” and adding the following clause (o):
“(o) any Liens in the form of easements, leases, rights of way, or similar access or use rights related to the transactions under the Special Asset Disposition Documents, to the extent expressly contemplated thereby.”
1.3    Amendment to Section 6.13 (Transactions with Affiliates).  Subsection 6.13(d) is hereby deleted in its entirety and replacing it with the following:
“transactions permitted by Section 6.3, Section 6.7, Section 6.9, Section 6.10, any Permitted Intercompany Advance, any Special Asset Disposition, and any unsecured guarantees of the Term Loan Financing,”
1.4    Construction.  Capitalized terms used in this Amendment No. 2 and not specifically defined herein shall have the meanings specified in the Credit Agreement.
2.    CONSENT TO PAYMENT OF SPECIAL ASSET DISPOSITION DIVIDENDS.  Notwithstanding anything to the contrary set forth in the Credit Agreement or any of the other Loan Documents, Agent and the Lenders party hereto hereby consent to the payment by Parent to its shareholders of the Special Asset Disposition Dividends; provided, that, (a) the aggregate amount of all Special Asset Disposition Dividends shall not exceed the net cash proceeds of the Special Asset Dispositions, (b) on or before the date of the payment of any Special Asset Disposition Dividends, Agent shall have received financial due diligence in form and substance satisfactory to Agent, which shall include a true, correct and complete copy of a fairness opinion with respect to the Special Asset Dispositions, as provided to Borrowers or its Affiliates; (c) on or before the date of the payment of any Special Asset Disposition Dividends, Agent shall have received, in form and substance satisfactory to Agent, true, correct and complete copies of the Special Asset Disposition Documents, (d) on or before the date of the payment of any Special Asset Disposition Dividends, Agent shall have received, in form and substance satisfactory to Agent, the calculation of the Fixed Charge Coverage Ratio on a pro forma basis for the twelve (12) consecutive month period ended as of the most recently available financial statements delivered by Borrowers to the Agent, (e) as of the payment of any Special Asset Disposition Dividends and after giving effect thereto, no Default or Event of Default shall exist or have occurred and be continuing or result therefrom, (f) as of the payment of any Special Asset Disposition Dividends with respect to the Tyler Tanks Disposition of the Tyler Terminal Disposition, and after giving effect thereto, the conditions set forth in Section 6.9(d) of the Credit Agreement shall be satisfied, and (g) all Special Asset Disposition Dividends shall be paid on or before thirty(30) days following the applicable Special Asset Disposition Date.

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3.    [*CONFIDENTIAL*] 
4.    REPRESENTATIONS, WARRANTIES AND COVENANTS.  
Each Borrower and Guarantor, jointly and severally, represents, warrants and covenants with and to Agent and Lenders as follows, which representations, warranties and covenants are continuing and shall survive the execution and delivery hereof, and the truth and accuracy of, or compliance with each, together with the representations, warranties and covenants in the other Loan Documents, being a continuing condition of the making of Loans by Lenders to Borrowers:
4.1    this Amendment No. 2 has been duly authorized, executed and delivered by all necessary action on the part of each Borrower and Guarantor and, if necessary, their respective stockholders or members and is in full force and effect as of the date hereof, and the agreements and obligations of each Borrower and Guarantor contained herein constitute legal, valid and binding obligations of each Borrower and Guarantor, enforceable in accordance with their respective terms;
4.2    all of the representations and warranties set forth in the Credit Agreement and the other Loan Documents, each as amended hereby, are true and correct in all material respects on and as of the date hereof as if made on the date hereof, except to the extent any such representation or warranty is made as of a specified date, in which case such representation or warranty shall have been true and correct in all material respects as of such date;
4.3    all necessary actions and proceedings required by the Loan Documents in connection with this Amendment No. 2 and the transactions contemplated hereby have been duly and validly taken in accordance with the terms hereof, and all required consents hereto under any agreement, document or instrument to which each Borrower and Guarantor is a party, and all applicable consents or approvals of Governmental Authorities, have been obtained; 
4.4    neither the execution and delivery of this Amendment No. 2, nor the consummation of the transactions contemplated hereby (including, without limitation, the execution and delivery by the parties thereto of the Special Asset Disposition Documents and the consummation of the transactions contemplated herby and thereby), nor compliance with the provisions hereof or thereof: (i) shall result in the creation or imposition of any lien, claim, charge or encumbrance upon any of the Collateral, except in favor of Agent; (ii) has violated or shall violate any law or regulation or any order or decree of any court or Governmental Authority in any material respect; (iii) does, or shall conflict with or result in the breach of, or constitute a default in any respect under any material mortgage, deed of trust, security agreement, agreement or instrument to which any Borrower or Guarantor is a party or may be bound; (iv) shall violate any provision of the Certificate of Incorporation or Certificate of Formation, as applicable, or By-Laws or Limited Liability Company Agreement, as applicable, of any Borrower or Guarantor; and
4.5    as of the date of this Amendment No. 2, and after giving effect hereto, no Default or Event of Default exists or has occurred and is continuing.
5.    CONDITIONS PRECEDENT.
This Amendment No. 2 shall be effective as of the date hereof, but only upon the satisfaction of each of the following conditions precedent, in a manner satisfactory to Agent: 
5.1    Agent shall have received this Amendment No. 2, duly authorized, executed and delivered by Borrowers, Guarantors and Required Lenders not later than July 31, 2013;

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5.2    Other than with respect to the acknowledgment set forth in Section 3 hereof, Agent shall have received all financial information, projections, budgets, business plans, cash flows and such other information as Agent shall request from time to time, including (a) projected monthly balance sheets, income statements, statements of cash flows and availability of Borrowers (giving effect to the receipt of the proceeds of the Special Asset Dispositions and the payment of the Special Asset Disposition Dividends) for the period through first anniversary of date hereof, (b) projected annual balance sheets, income statements, statements of cash flows and availability of Borrowers (giving effect to the receipt of the proceeds of the Special Asset Dispositions and the payment of the Special Asset Disposition Dividends) through the end of the 2014 fiscal year, in each case as to the projections described in clauses (a) and (b), with the results and assumptions set forth in all of such projections in form and substance satisfactory to Agent, and (c) the calculation of the Fixed Charge Coverage Ratio for the twelve (12) consecutive month period ended as of May 31, 2013, on a pro forma basis;
5.3    Agent shall have received, in form and substance satisfactory to Agent, a true and correct copy of any consent, waiver or approval to or of this Amendment No. 2, which any Borrower or Guarantor is required to obtain from any other Person; 
5.4    as of the date of this Amendment No. 2, after giving effect hereto, no Default or Event of Default shall exist or shall have occurred and be continuing; and
5.5    [*CONFIDENTIAL*]
6.    RELEASE OF AGENT/LENDERS.  By execution of this Amendment No. 2, each Borrower, each Guarantor and Holdings (herein, “Obligors”), for itself and its successors, assigns, parents, subsidiaries, affiliates, predecessors, employees and agents jointly and severally hereby acknowledges and confirms that they do not have any offsets, defenses, rights of recoupment or claims of any kind or nature against any Agent-Related Persons or any Lender-Related Persons, whether asserted or unasserted arising from or in any way relating to the Credit Agreement, as amended by this Amendment No. 2, or the Obligations.  To the extent that Obligors may have such offsets, defenses, rights of recoupment or claims, each of Obligors, for itself and its successors, assigns, parents, subsidiaries, affiliates, predecessors, employees and agents, as applicable, jointly and severally, release and forever discharge the Agent-Related Persons and the Lender-Related Persons and any of their predecessors in interest, subsidiaries, shareholders, successors and assigns, both present and former (collectively the “Released Persons”), of and from any and all manner of action and actions, cause and causes of action, suits, debts, controversies, damages, judgments, executions, claims and demands whatsoever, asserted or unasserted, in law or in equity which Obligors ever had, now have or which any of Obligors’ successors, assigns, parents, subsidiaries, affiliates, predecessors, employees or agents, as applicable, both present and former, ever had or now has, upon or by reason of any manner, cause, causes or thing whatsoever, including, without limitation, any presently existing claim or defense whether or not presently suspected, contemplated or anticipated against any of the Released Persons arising from or in any way connected to the Loan Documents, as amended, if applicable, or the Obligations.
7.    GENERAL PROVISIONS.
7.1    Section Headings.  Headings and numbers have been set forth herein for convenience only.  Unless the contrary is compelled by the context, everything contained in each Section applies equally to this entire Agreement.
7.2    Effect of this Amendment No. 2; Entire Agreement.  Except as modified pursuant hereto, no other changes or modifications to the Credit Agreement and the other Loan Documents are intended or 

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implied, and except as set forth in Section 2 hereof, no consents are intended or implied, and in all other respects the Credit Agreement and the other Loan Documents are hereby specifically ratified, restated and confirmed by all parties hereto as of the date hereto.  This Amendment No. 2 represents the entire agreement and understanding concerning the subject matter hereof between the parties hereto and supersedes all other prior agreements, understandings, negotiations and discussions, representations, warranties, commitments, proposals, offers and contracts concerning the subject matter hereof, whether oral or written.  To the extent of any conflict between the terms of this Amendment No. 2 and the other Loan Documents, the terms of this Amendment No. 2 shall control.  The Credit Agreement and this Amendment No. 2 shall be read and construed as one agreement.
7.3    Governing Law.  The validity, interpretation and enforcement of this Amendment No. 2 whether in contract, tort, equity or otherwise, shall be governed by the internal laws of the State of New York, but excluding any principles of conflicts of law or other rule of law that would cause the application of the law of any jurisdiction other than the laws of the State of New York.
7.4    Binding Effect.  This Amendment No. 2 shall be binding upon and inure to the benefit of each of the parties hereto and their respective successors and assigns.
7.5    Counterparts; Electronic Execution.  This Amendment No. 2 may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Agreement.  Delivery of an executed counterpart of this Amendment No. 2 by telefacsimile or other electronic method of transmission shall be equally as effective as delivery of an original executed counterpart of this Amendment No. 2.  Any party delivering an executed counterpart of this Amendment No. 2 by telefacsimile or other electronic method of transmission also shall deliver an original executed counterpart of this Amendment No. 2 but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment No. 2.  The foregoing shall apply to each other Loan Document mutatis mutandis.
[SIGNATURE PAGES FOLLOW]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to be executed and delivered as of the date first above written.

BORROWER:

DELEK REFINING, LTD.,
a Texas limited partnership

By: DELEK U.S. REFINING GP, LLC, its General Partner

By:      /s/ Danny Norris            

Title:    Vice President, Finance            
 
 
By:      /s/ Andrew L. Schwarcz        

Title:    Vice President                

GUARANTORS:

DELEK REFINING, INC.,
a Delaware corporation

By:      /s/ Danny Norris            

Title:    Vice President, Finance            
 
 
By:      /s/ Andrew L. Schwarcz        

Title:    Vice President                

DELEK U.S. REFINING GP, LLC,
a Texas limited liability company

By:      /s/ Danny Norris            

Title:    Vice President, Finance            
 
 
By:      /s/ Andrew L. Schwarcz        

Title:    Vice President                

[SIGNATURES CONTINUED ON NEXT PAGE]

[SIGNATURES CONTINUED FROM PREVIOUS PAGE]

ACKNOWLEDGED:

DELEK US HOLDINGS, INC., 
a Delaware corporation

By:      /s/ Danny Norris            

Title:    Vice President, Finance            
 
 
By:      /s/ Andrew L. Schwarcz        

Title:    Vice President                

LION OIL COMPANY, 
an Arkansas corporation

By:      /s/ Danny Norris            

Title:    Vice President, Finance            
 
 
By:      /s/ Andrew L. Schwarcz        

Title:    Vice President                

[SIGNATURES CONTINUED ON NEXT PAGE]

[SIGNATURES CONTINUED FROM PREVIOUS PAGE]

WELLS FARGO CAPITAL FINANCE, LLC,
a Delaware limited liability company, as Agent, Co-Collateral Agent and as a Lender

By:      /s/ William M. Plough            

Title:    Vice President                

[SIGNATURES CONTINUED FROM PREVIOUS PAGE]

BANK OF AMERICA, N.A., 
as Co-Collateral Agent, Co-Syndication Agent and a Lender

By:      /s/ Mark Porter            

Title:    Senior Vice President            

[SIGNATURES CONTINUED FROM PREVIOUS PAGE]

REGIONS BANK, 
as Documentation Agent and a Lender

By:      /s/ John Thomas            

Title:    Vice President                

[SIGNATURES CONTINUED FROM PREVIOUS PAGE]

SUNTRUST BANK, 
as Co-Syndication Agent and a Lender

By:      /s/ Christopher M. Waterstreet        

Title:    Vice President

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