Document:

Exhibit

MANAGEMENT EMPLOYMENT AGREEMENT

This Agreement is entered into between Jimmy C. Crosby ("Manager") and Alon USA GP, LLC, a Delaware limited liability company ("Employer" or "Company"), on March 1, 2013, who, in return for the mutual promises set forth herein, agree as follows:
1.Position/Term. (a) The term of the Manager's employment hereunder shall be deemed to have commenced as of March 1, 2013.
(b)    Throughout the term of this Agreement, Employer shall employ Manager and Manager shall render services to Employer in the capacity and with the title of Senior Vice President - Refining of Alon USA Energy, Inc., or such other title as may be established by Employer from time to time. Manager shall devote his full time and best effort to the successful functioning of the business of Employer and shall faithfully and industriously perform all duties pertaining to his position, including such additional duties as may be assigned from time to time, to the best of Manager's ability, experience and talent. Manager shall be subject at all times during the term hereof to the direction and control of Employer in respect of the work to be done.
(c)    Manager's employment hereunder shall be for an initial term of five years. Thereafter, the term shall renew automatically each year for a term of one year, unless either party provides the other with written notice at least 30 days prior to the expiration of the term.

2.Compensation.    (a)    Manager's salary ("Base Compensation") shall be $275,000 per year, payable bi-weekly (unless the payroll practice of the Company changes to monthly or semi-monthly) in arrears and subject to change only with the mutual written consent of Employer and Manager. The Company maintains guidelines for annual merit increases for salaries of all salaried employees/management, including Manager.
(b)    Manager shall be entitled to participate in the Alon USA Annual Cash Bonus Plan which will be subject to modification in the sole discretion of the Company without advanced notice from time to time as set forth therein. For purposes of determining the Manager's Target Bonus Amount under such plan, the Manager shall participate up to an amount equal to one-hundred percent (100%) of base compensation.
3.Fringe Benefits; Reimbursement of Expenses. Employer shall make available, or cause to be made available to Manager, throughout the period of his employment hereunder, such benefits, including any disability, hospitalization, medical benefits, life insurance, pension plan or other benefits or policy, as may be put into effect from time to time by Employer generally for other management members at the level of Manager. The Company expressly reserves the right to modify such benefits at any time.
Manager will be reimbursed for all reasonable out-of-pocket business, business entertainment and travel expenses paid by the Manager, in accordance with and subject to applicable Company expense incurrence and reimbursement policies. Any expense reimbursements required to be made under this Agreement will be for expenses incurred by Manager during the term of this Agreement, and such reimbursements will be made not later than December 31st  of the year  following the year  in which  Manager  incurs the expense;

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provided, that in no event will the amount of expenses eligible for payment or reimbursement in one calendar year affect the amount of expenses to be paid or reimbursed in any other calendar year. Manager's right to expense reimbursement will not be subject to liquidation or exchange for another benefit.
4.Vacation. The number of vacation days to which Manager shall be entitled each year shall be based on the years of service of the Manager for Employer as follows - 15 days up to 10 years, 20 days after 10 years, 25 days after 20 years, and 30 days after 30 years. Unless otherwise agreed, vacation may not be carried over into a new calendar year. Vacation time shall be taken only after providing reasonable notice to the person to whom the Manager reports.
5.Compliance With Employer Policies. Manager shall comply with and abide by all employment policies and directives of Employer. Employer may, in its sole discretion, change, modify or adopt new policies and directives affecting Manager's employment. In the event of any conflict between the terms of this Agreement and Employer's employment policies and directives, the terms of this Agreement will be controlling.
6.Restrictive Covenant. In consideration of the confidential business information that Employer promises to provide Manager access or exposure to during the term of employment as described in paragraph 7 of the Agreement, Manager agrees to the following restrictive covenants:
(a)Manager agrees that during the term of Manager's employment with Employer and for a period of one year following any termination of Manager's employment, if the Manager terminates employment during the first two years of Manager's employment, or nine months, if the Manager terminates employment after the first two years of employment and before the completion of five years of employment (the "Non-Compete Period"), Manager will not, without the prior written consent of Employer, directly or indirectly, either as an individual or as an employee, officer, director, shareholder, partner, sole proprietor, independent contractor, consultant or in any other capacity conduct any business, or assist any person in conducting any business, that is in competition with the business of Employer  or its Affiliates (as defined below).
(b)In addition to any other covenants or agreements to which Manager may be subject, during the Non-Compete Period, Manager will not, directly or indirectly, either as an individual or as an employee, officer, director, shareholder, partner, sole proprietor, independent contractor, consultant or in any other capacity whatsoever approach or solicit any customer or vendor of Employer with whom the Manager had contact or received information about during the course of employment for the purpose of causing, directly or indirectly, any such customer or vendor to cease doing business with Employer or its Affiliates.
For the purposes of this Agreement, the "business of Employer or its Affiliates" means the business of refining petroleum distillates and the wholesale distribution of such products in the Territory. The term "Affiliates" means all subsidiaries of Employer and each person or entity that controls, is controlled by, or is under common control with Employer. The "Territory" means the states of Texas, New Mexico, Arizona, California, Oregon, Washington and Nevada. It is understood and agreed that the scope of each of the covenants contained in this Section 6 is reasonable as to time, area, and persons and is necessary to protect the legitimate business

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interest of Employer. It is further agreed that such covenants will be regarded as divisible and will be operative as to time, area and persons to the extent that they may be so operative. The terms of this Section 6 shall not apply to the ownership by Manager of less than 5% of a class of equity securities of an entity, which securities are publicly traded on the New York Stock Exchange, the American Stock Exchange, or the National Market System of the National Association of Securities Dealers Automated Quotation System. The provisions of this Section 6 will survive any termination or expiration of this Agreement.
7.Confidentiality. (a) During the course of employment, Employer promises to provide Manager with access or exposure to information or ideas of a confidential or proprietary nature which pertain to an area of Employer's business, financial, legal, marketing, administrative, personnel, technical or other functions or which constitute trade secrets (including, but not limited to, as examples specifications, designs, plans, drawings, software, data, prototypes, the identity of sources and markets, marketing information  and strategies; business and financial plans and strategies, methods of doing business; data processing and management information and technical systems, programs and practices; customers and users and their needs, sales history; and financial strength), and such information of third parties which has been provided to Employer in confidence ("Confidential Information"). All such information is deemed "confidential" or "proprietary" whether or not it is so marked, provided that it is maintained as confidential by the Company. Information will not be considered to be Confidential Information to the extent that it is generally available to the public. Nothing in this Section 7 will prohibit the use or disclosure by Manager of knowledge that is in general use in the industry or general business knowledge.
(b)Manager shall hold Confidential Information in confidence, use it only in connection with the performance of duties on behalf of Employer, and restrict its disclosure to those directors, employees or independent contractors of Employer having a need to know.
(c)Manager shall not disclose, copy or use Confidential Information for the benefit of anyone other than Employer without Employer's prior written consent.
(d)Manager shall, upon Employer's request or Manager's termination of employment, return to Employer any and all written documents containing Confidential Information in Manager's possession, custody or control.
8.Non-Interference with Employment Relationships. In consideration of the confidential business information that Employer promises to provide Manager access or exposure to during the term of employment as described in paragraph 7 of this Agreement, Manager promises that during the term of his/her employment with Employer, and for a period of one (1) year thereafter, Manager shall not, without Employer's prior written consent, directly or indirectly:  (a) induce or attempt to induce any employee to leave the Employer's employ; or (b) interfere with or disrupt the Employer's relationship with any of its employees or independent  contractors.
9.Copyright, Inventions, Patents. Employer shall have all right, title and interest to all features (including, but not limited to, graphic designs, copyrights, trademarks and patents) created during the course of or resulting from Manager's employment with Employer. Manager hereby assigns to Employer  all copyright  ownership and rights to any work developed by

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Manager and reduced to practice for or on behalf of Employer or which relate to Employer's business during the course of the employment relationship. At Employer's expense, Manager shall do all other things including, but not limited to, the giving of evidence in suits and proceedings, and the furnishing and/or assigning of all documentation and  other  materials relative to Employer's intellectual property rights, necessary or appropriate for  Employer  to obtain, maintain, and assert its rights in such work.

10.Termination of Employment.     (a)  Employer may terminate Manager's employment hereunder at any time for Cause. For  purposes hereof, Cause shall mean: (i) conviction of a felony or a misdemeanor where imprisonment is imposed for more than 30 days;(ii) commission of  any act  of theft, fraud, dishonesty, or falsification of any employment or Employer records; (iii) improper disclosure of Confidential Information;  (iv)  any  intentional action by the Manager having a material detrimental effect on the Company's reputation or business; (v) any material breach of this Agreement, which breach is not cured within ten (10) business days following receipt by Manager of written notice of such breach; (vi) unlawful appropriation of a corporate opportunity; or (vii) intentional misconduct in connection with the performance of any of Manager's duties, including, without limitation, misappropriation of funds or property of the Company, securing or attempting to secure to the detriment of the Company any profit in connection with any transaction entered into on behalf of  the  Company,  any material misrepresentation to the Company,  or any knowing violation of law or regulations  to which the Company is subject. Upon termination of Manager's employment with the Company for Cause, the Company shall be under no further obligation to Manager, except to pay all earned but unpaid Base Compensation and all accrued benefits and vacation to the date of termination (and to the extent required by law).

(b)    Employer may terminate Manager’s employment hereunder without Cause, or Manager may terminate his employment hereunder for Good Reason, upon not less than thirty (30) days prior written notice. In the event of any such termination, Manager shall be entitled to receive his Base Compensation through the termination date and any annual bonus entitlement, prorated for the number of months of employment for the fiscal year in question, all accrued benefits and vacation to the date of termination (and to the extent required by law), plus, during the first two years of Manager's employment hereunder, an amount of severance payment equal to one year's Base Compensation as in effect immediately before  any  notice  of termination, or, after the first two years of Manager's employment hereunder, an amount of severance payment equal to nine months' Base Compensation as in effect immediately before any notice of termination. "Good Reason" means (i) without  the  Manager's  prior  written consent, the Employer reduces Manager's Base Compensation or the percentage  of Manager's Base Compensation established as Manager's maximum target bonus percentage for purposes of Employer's annual cash bonus plan, (ii) any material breach of this Agreement, which breach is not cured within ten (10) business days following receipt by Employer of written notice of such breach; and (iii) the delivery by Employer of notice pursuant to Section 1 (c) of this Agreement that it does not wish this Agreement to automatically renew for any subsequent year.

(c)    Manager may terminate the employment relationship hereunder with not less than thirty (30) days prior written notice. Upon any such termination of Manager's employment, other than for Good Reason, the Company shall be under no further obligation to Manager, except to pay all earned but unpaid Base Compensation and all accrued benefits and vacation to the date of termination (and to the extent required by law).

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(d)    To the extent that a payment becomes due to Manager under this Section 10 by reason of Manager's termination of employment, (i) the term "termination of employment" will have the same meaning as "separation from service" under Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"), and (ii) except as provided in Section l 0(e) below, all such payments will be made in a single lump sum no later than 60 days after the date on which Manager terminates employment.

(e)    If the Company makes a good faith determination that a payment under this Agreement  (i) constitutes a deferral of compensation for purposes of Section 409A of the Code, (ii) is made to Manager by reason of his separation from service and (iii) at the time  such payment would otherwise be made Manager is a "specified employee" as hereinafter defined, the payment will be delayed until the first day of the seventh month following the date of such termination of employment and will bear interest at the prime rate of interest as published in the Wall Street Journal on the first business day following the date of Manager's termination of employment. For purposes of this Section 10, a specified employee is an officer of Alon USA Energy, Inc. with annual compensation in excess of $150,000 (as adjusted for years after 2008), provided that only the 50 highest paid officers of Alon USA Energy, Inc. may constitute "specified employees" for any 12-month period. An individual who is identified as a one of the 50 highest paid officers during any portion of a calendar year will be a specified employee for purposes of the Agreement during the 12-month period beginning on April 1 of the following calendar year.

(f)    The provisions of Sections 6, 7, 8 and 9 of this Agreement will continue in effect notwithstanding any termination of Manager's employment.

11.Mediation and Arbitration. (a) Employer and Manager hereby  state their mutual desire for any dispute concerning a legally cognizable claim arising out of this Agreement or in connection with the employment of Manager by Employer, including, but not limited to, claims of breach of contract, fraud, unlawful termination, discrimination, harassment, workers' compensation retaliation, defamation, tortious infliction of emotional distress, unfair competition, and conversion ("Legal Dispute"), to be resolved amicably, if possible, and without the need for litigation.
(b)    Based on this mutual desire, in the event a Legal Dispute arises, the parties shall utilize the following protocol:
(i)    The parties shall first submit the Legal Dispute to mediation under the auspices of the American Arbitration Association ("AAA") and pursuant to the mediation rules and procedures promulgated by the AAA.
(ii)    In the event mediation is unsuccessful in fully resolving the Legal Dispute, binding arbitration shall be the method of final resolution of the Legal Dispute. The parties expressly waive their rights to bring action against one another in a court of law, except as expressly provided in subsection (d). The parties hereto acknowledge that failure to comply with this provision shall entitle the non-breaching party not only to damages, but also to injunctive relief to enjoin the actions of the breaching party. Any Legal Dispute submitted to Arbitration  shall be under the auspices of the AAA and pursuant to the "National Rules for the

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Resolution of Employment Disputes," or any similar identified rules promulgated at such time the Legal Dispute is submitted for resolution. All mediation and arbitration hearings shall take place in Dallas, Texas.
(c)    Notice of submission of any Legal Dispute to mediation shall be provided no later than three hundred sixty-five (365) calendar days following the date the submitting party became aware of the conduct constituting the alleged claims. Failure to do so shall result in the irrevocable waiver of the claim made in the Legal Dispute.
(d)Notwithstanding that mediation and arbitration are established as the exclusive procedures for resolution of any Legal Dispute, (i) either party may apply to an appropriate judicial or administrative forum for injunctive relief and (ii) claims by Employer arising in connection with paragraphs 6, 7, 8 or 9 may be brought in any court of competent jurisdiction.
(e)Each party acknowledges that a remedy at law for any breach or attempted breach of paragraphs 6, 7, 8 or 9 of this Agreement will be inadequate, agrees that Employer will be entitled to specific performance and injunctive and other equitable relief in case of any breach or attempted breach, and agrees not to use as a defense that any party has an adequate remedy at law. This Agreement shall be enforceable in a court of equity, or other tribunal with jurisdiction, by a decree of specific performance, and appropriate injunctive relief may be applied for and granted in connection herewith. Such remedy shall not be exclusive and shall be in addition to any other remedies now or hereafter existing at law or in equity, by statute or otherwise. Except as provided in subsection (c) no delay or omission in exercising any right or remedy set forth in this Agreement shall operate as a waiver thereof or of any other right or remedy and no single or partial exercise thereof shall preclude any other or further exercise thereof or the exercise of any other right or remedy.

12.Assignment. This Agreement shall not be assignable by either party except that upon any sale or transfer of all or substantially all of its business by Employer, Employer may assign this Agreement to its successor; any failure to make such an assignment will be considered to constitute the termination of Manager's employment without cause effective upon the closing of the referenced transaction.

13.No Inducement, Agreement Voluntary. Manager represents that (a) he has not been pressured, misled, or induced to enter into this Agreement based upon any representation by Employer or its agents not contained herein, (b) he has entered into this Agreement voluntarily, after having the opportunity to consult with representatives of his own choosing and that (c) his agreement is freely given.

14.Interpretation and Severability. Any paragraph, phrase or other provision of this Agreement that is determined by a court, arbitrator or arbitration panel of competent jurisdiction to be unreasonable or in conflict with any applicable statute or rule, shall be deemed, if possible, to be modified or altered so that it is not unreasonable or in conflict or, if that is not possible, then it shall be deemed omitted from this Agreement. The invalidity of any portion of this Agreement shall not affect the validity of the remaining portions. Further, should any clause, sentence, provision, paragraph, or part of this Agreement be adjudged by any court of competent jurisdiction,  or be held  by any other  competent  governmental  authority having

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jurisdiction, to be illegal, invalid, or unenforceable, such judgment or holding shall not affect, impair, or invalidate the remainder of the Agreement, but shall be confined to the greatest extent possible in its operation to the particular clause, sentence, provision, paragraph, or part of the agreement directly involved, and the remainder of the Agreement shall remain in full force and effect.
15.Prior Agreements Superseded; Amendments. This Agreement revokes and supersedes all prior agreements, written and oral, and represents the entire agreement between the parties in relation to the employment of the Manager by the Company after the Commencement Date and, except as provided in Section 17 below, shall not be subject to modification or amendment by any oral representation, or any written statement by either party, except for a dated writing signed by the Manager and the Employer.
16.Section 409A of the Code. To the extent that any payment made under this Agreement constitutes a deferral of compensation subject to Section 409A of the Code, the time of such payment may not be accelerated except to the extent permitted by Section 409A of the Code. Where Section 409A of the Code permits a payment or benefit that constitutes a deferral of compensation to be accelerated, the payment or benefit may be accelerated in the sole discretion of the Company. Notwithstanding any provision of this Agreement to the contrary, in light of the uncertainty with respect to the proper application of Section 409A of the Code, the Company reserves the right to make amendments to this Agreement as the Company deems necessary or desirable solely to avoid the imposition of taxes or penalties under Section 409A of the Code.
17.Notices. All notices, demands and requests of any kind to be delivered in connection with this Agreement shall be in writing and shall be deemed to have been duly given if personally delivered or if sent by nationally-recognized overnight courier or by registered or certified mail, return receipt requested and postage prepaid, addressed as follows:
		
	(a)
	if to the Company,to: 

Alon USA GP, LLC
Attention: Human Resources
12700 Park Central Dr., Suite 1600
Dallas, TX 75251
Telecopy number: (972) 367-3724

		
	(b)
	if to Manager, to the address of Manager set forth on the signature page hereto;

or to such other address as the party to whom notice is to be given may have furnished to the other in writing in accordance with the provisions of this Section 17. Any such notice or communication shall be deemed to have been received: (i) in the case of personal delivery, on the date of such delivery; (ii) in the case of nationally-recognized overnight courier, on the next business day after the date sent; and (iii) if by registered or certified mail, on the third business day following the date postmarked.

18.Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Texas without  giving effect to principles of conflicts of law.

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	MANAGER:
	 
	 
	EMPLOYER:

	 
	 
	 
	 

	Jimmy C. Crosby
	 
	 
	ALON USA GP, LLC

	 
	 
	 
	 

	 
	 
	 
	 

	/s/ Jimmy C. Crosby
	 
	By:
	/s/ Paul Eisman

	 
	 
	Name:
	Paul Eisman

	 
	 
	Title:
	Chief Executive Officer

	 
	 
	 
	 

	Address for notices:
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

8Exhibit

ALON USA ENERGY, INC.
RESTRICTED STOCK AWARD AGREEMENT

WHEREAS, James A. Ranspot (the "Participant") is an employee of Alon USA Energy, Inc., a Delaware corporation (the "Company") or one of its Subsidiaries, and a Participant within the meaning of the Alon USA Energy, Inc. Amended and Restated 2005 Incentive Compensation Plan (the "Plan");
WHEREAS, the grant of restricted shares evidenced by this agreement (the "Agreement") was authorized by a resolution of the Board of Directors of the Company (the "Board").
NOW, THEREFORE, subject to and upon the terms, conditions, and restrictions set forth in this Agreement and in the Plan, a copy of which is attached hereto and incorporated herein by reference, the Company hereby agrees, provided the Participant remains continuously employed by the Company and its Subsidiaries until such date, to grant to the Participant restricted shares  of Common Stock (upon the effectiveness of each such grant, the "Restricted Shares") in accordance with the following schedule on the respective dates of grant (each a "Date of Grant"):
	
			
	Number of Restricted
Shares Granted
	 
	Date of Grant

	31,640
	 
	August 6, 2014

	31,640
	 
	August 6, 2015

	31,640
	 
	August 5, 2016

	31,640
	 
	August 7, 2017

	31,640
	 
	August 6, 2018

Terms not defined in this Agreement have the meanings set forth in the Plan.
1.Rights of Grantee.

(a)    The Restricted Shares will be fully paid and nonassessable and will be represented by a certificate or certificates registered in the name of the Participant and bearing a legend referring to the restrictions hereinafter set forth. Except as otherwise provided herein, the Participant will have all of the rights of a stockholder with respect to the Restricted Shares; provided, however, that any additional shares of Common Stock or other securities that the Participant may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of the Company will be subject to the same restrictions as the Restricted Shares. In order to reflect the effect of any such event. appropriate adjustments will be made to the number and/or class of shares which Participant is eligible to receive pursuant to this Agreement.
(b)    The Participant will not be entitled to vote the Restricted Shares or to receive dividends with respect to the Restricted Shares.  For purposes of this Agreement, the

continuous employment of the Participant with the Company and its Subsidiaries will not be deemed to have been interrupted, and the Participant will not be deemed to have ceased to be an employee of the Company and its Subsidiaries, by reason of the transfer of the Participant's employment among the Company and its Subsidiaries or a leave of absence approved by the Company's Executive Chairman of the Board.
2.Restrictions on Transfer. The Restricted Shares and the right to receive future grants of Restricted Shares may not be transferred, sold, pledged, exchanged, assigned or otherwise encumbered or disposed of by the Participant, except to the Company, until the Restricted Shares become vested in accordance with Section 3 below; provided, however, that (i) the Participant's interest in the Restricted Shares may be transferred by will or the laws of descent and distribution and (ii) upon the Vesting Date, the Company shall have the option to repurchase the Restricted Shares in accordance with Section 3(d) below. Any purported transfer, encumbrance or other disposition of the Restricted Shares before they become vested will be null and void, and the other party to any such purported transaction will not obtain any rights to or interest in the Restricted Shares.
3.Vesting of Restricted Shares.

(a)    Vesting. The Participant will acquire a vested interest in, and the restrictions on voting and the right to receive dividends set forth in Section l(b) and the restrictions on transfer set forth in Section 2 will lapse with respect to, Restricted Shares in accordance with the schedule set forth below (each date being referred to as a "Vesting Date"), subject to the Participant' s remaining in the continuous employ of the Company and its Subsidiaries during the period from the Date of Grant to the Vesting Date. Notwithstanding the foregoing, if the Participant is subject to the Alon USA Energy, Inc. Securities Trading Policy (the "Policy'') on the Vesting Date and the Vesting Date is not a trading date under the Policy, the Restricted Shares will vest on the first day following the Vesting Date that is a trading date under the Policy, provided the Participant remains continuously employed by the Company and its Subsidiaries until such date.
	
			
	Number of Restricted
Shares Vested
	 
	Vesting Date

	15,820 Restricted Shares originally granted on August 6, 2014
	 
	August 6, 2015

	15,820 Restricted Shares originally granted on August 6, 2015
	 
	August 5, 2016

	15,820 Restricted Shares originally granted on August 5, 2016
	 
	August 7, 2017

	15,820 Restricted Shares originally granted on August 7, 2017
	 
	August 6, 2018

	94,920 (all remaining Restricted Shares)
	 
	August 6, 2019

(b)    Full Vesting Upon Certain Events. Notwithstanding the provisions of Section 3(a), the Participant will acquire a vested interest in, and the restrictions on voting and the right to receive dividends set forth in Section 1(b) and the restrictions on transfer set forth in Section 2 will lapse with respect to, all of the granted but nonvested Restricted Shares in the event of (i) the involuntary termination (including disability or death) of the Participant’s employment with the Company and its Subsidiaries for a reason other than Cause or (ii) the Participant's termination of employment with the Company and its Subsidiaries by the Participant for Good Reason, in each case within the 24-month period following the occurrence of a Change in Control.
(c)    Forfeiture. In the event the Participant terminates employment with the Company and its Subsidiaries for any reason other than disability, death, involuntary termination by the Company other than for Cause or termination by the Participant for Good Reason, the unvested Restricted Shares will be forfeited immediately and the certificate(s) representing the unvested Restricted Shares will be canceled as well as any right to grants that are not yet effective.
(d)    Repurchase. Upon the Vesting Date, the Company shall have the option, with four (4) days' prior notice to Participant, to repurchase the Restricted Shares with a cash payment to Participant on the Vesting Date calculated using the closing price of the Company's Common Stock on the trading day immediately preceding the Vesting Date, less any amount withheld for taxes in accordance with Section 6 below.
4.Participant's Put Right. If at any time there is no longer a regular public trading market for the Common Stock, the Participant will have the right to require the Company to purchase any or all of the vested Restricted Shares in accordance with this Section 4, provided the Participant has held such shares for at least six months. The Participant's right to require the Company to purchase vested Restricted Shares may be exercised by delivering a written notice (the "Put Notice") to the Company that sets forth the Participant's irrevocable undertaking to sell to the Company the number of vested Restricted Shares stated in such Put Notice. The purchase price per share to be paid for the Participant's vested Restricted Shares will be the Market Value per Share on the closing date of the purchase and sale contemplated by this Section 4, which will occur on the 30th day following delivery of the Put Notice or such earlier date as may be agreed  to by the parties. At such closing, the Company will deliver the aggregate purchase price to the Participant in cash, against delivery by the Participant of certificates representing the vested Restricted Shares being purchased, free and clear of all liens, claims and encumbrances and endorsed in good form for transfer.
5.Retention of Stock Certificates by the Company. The certificates representing the Restricted Shares will be held in custody by the Secretary of the Company, together with a stock power endorsed in blank by the Participant, until the Restricted Shares vest in accordance with this Agreement. In order for this Agreement to be effective, the Participant must sign and return such stock power to the attention of the Secretary of the Company.
6.Taxes and Withholding. To the extent that the Company is required to withhold any federal, state, local or foreign taxes in connection with the issuance or vesting of any restricted or nonrestricted Common Shares or other securities pursuant to this Agreement, and

the amounts available to the Company for such withholding are insufficient, it will be a condition to the issuance or vesting of the Common Shares, as the case may be, that the Participant will pay such taxes or make provisions that are satisfactory to the Company for the payment thereof. The Participant may elect to satisfy all or any part of any such withholding obligation by retention by the Company of a portion of the nonforfeitable Common Shares that are issued or transferred to the Participant hereunder, and the Common Shares so retained will be credited against any such withholding obligation at the Market Value per Share on the date of such issuance or transfer. However, in no event may the Participant elect to have a number of Common Shares withheld in excess of the number of Common Shares required to satisfy the Company's minimum statutory tax withholding obligation.
7.Compliance with Law. The Company will make reasonable efforts to comply with all applicable federal and state securities laws; provided, however, notwithstanding any other provision of this Agreement, the Company will not be obligated to issue any restricted or nonrestricted Common Shares or other securities pursuant to this Agreement if the issuance thereof would result in a violation of any such law.
8.Definitions. For purposes of this Agreement, the terms set forth below will have the following meanings:
(a)    "Cause" means (i) the Participant's conviction of a felony or a misdemeanor where imprisonment is imposed for more than 30 days; (ii) the Participant' s commission of any act of theft, fraud, dishonesty, or falsification of any employment or Company records; (iii) the Participant's improper disclosure of confidential information of the Company; (iv) any intentional action by the Participant having a material detrimental effect on the Company's reputation or business;(v) any material breach by the Participant of this Agreement or the Participant's employment agreement with the Company or one of its Subsidiaries, which breach is not cured within ten (I0) business days following receipt by the Participant of written notice of such breach; (vi) the Participant's unlawful appropriation of a corporate opportunity; or (vii) the Participant's intentional misconduct in connection with the performance of any of the Participant' s duties, including, without limitation, misappropriation of funds or property of the Company, securing or attempting to secure to the detriment of the Company any profit in connection with any transaction entered into on behalf of the Company, any material misrepresentation to the Company, or any knowing violation of law or regulations to which the Company is subject.
(b)"Change in Control" means the occurrence after the date of this Agreement of any of the following events:
(i)    any "person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act), other than one or more Permitted Holders, is or becomes the beneficial  owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that for purposes of this clause (i) such person will be deemed to have ''beneficial ownership" of all shares that any such person has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than 50% of the total voting power of the Voting Stock of the Company; or

(ii)    individuals who on the date hereof constituted the Board (together with any new directors whose election by the Board or whose nomination for election by the shareholders of the Company was approved by a vote of a majority of the directors of the Company then still in office who were either directors on the date hereof or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board then in office; or
(iii)    the merger or consolidation of the Company with or into another person or the merger of another person with or into the Company, or the sale of all or substantially all the assets of the Company (determined on a consolidated basis) to another person (other than, in all such cases, a person that is controlled by the Permitted Holders), other than a transaction following which (A) in the case of a merger or consolidation transaction, (1) holders of securities that represented 100% of the Voting Stock of the Company immediately prior to such transaction own directly or indirectly at least a majority of the voting power of the Voting Stock of the surviving person in such merger or consolidation transaction immediately after such transaction and in substantially the same proportion to each other as before the transaction or (2) immediately after such transaction the Permitted Holders beneficially own, directly or indirectly, at least a majority of the voting power of the Voting Stock of the surviving person in such merger or consolidation transaction immediately after such transaction and (B) in the case of a sale of assets transaction, the transferee assumes the obligations of the Company under this Agreement-and either (1) is or becomes a Subsidiary of the transferor of such assets or (2) is or becomes a person a majority of the total voting power of the Voting Stock of which is beneficially owned, directly or indirectly, by the Permitted Holders; or
(iv)     the adoption of a plan relating to the liquidation or dissolution of the Company.
(c)"Good Reason" means (i) without the Participant's prior written consent, the Company reduces Participant's base compensation or the percentage of the Participant's base compensation established as the Participant' s maximum target bonus percentage for purposes of the Company's annual cash bonus plan, (ii) any material breach by the Company or its Subsidiaries of this Agreement or the Participant' s employment agreement with the Company or one of its Subsidiaries, which breach is not cured within ten (10) business days following receipt by the Company of written notice of such breach; and (iii) without the Participant' s prior written consent, the Company requires the Participant to be based at an office or location that is more than 35 miles from the location at which the Participant was based on the date hereof, other than in connection with reasonable travel requirements of the Company's business.
(d)"Market Value per Share" means, at any date, the closing sale price of the Common Stock on that date (or, if there are no sales on the date, the last preceding date on which there was a sale) on the principal national securities exchange or in the principal market on or in which the Common Stock is traded. If there is no regular public trading market for the Common Stock, the Market Value per Share will be the fair market value of a share of Common Stock , without discount for minority interest, illiquidity or restrictions on transfer, as determined in  good faith by agreement of the Participant and the Board; provided that if no agreement is reached within 30 days, the fair market value of a share of Common Stock shall be determined by an independent, recognized investment bank, accounting firm or business valuation company

mutually agreed to by the parties (the "Appraiser") and whose determination of Market Value per Share shall be conclusive and binding. The costs of the Appraiser will be borne equally by the Participant and the Company.
(e)"Permitted Holders" means Alon Israel Oil Company, Ltd., Bielsol Investments (1987) Ltd., and Tabris Investments Inc.
9.General Provisions.
(a)    The Company may assign any of its rights and obligations under this Agreement. Any assignment of rights and obligations by the Participant requires the Company's prior written consent. This Agreement, and the rights and obligations of the parties hereunder, will be binding upon and inure to the benefit of their respective successors, assigns, heirs, executors, administrators and legal representatives.
(b)    Any and all notices required or permitted to be given to a party pursuant to the provisions of this Agreement will be in writing and will be effective and deemed to provide such party sufficient notice under this Agreement on the earliest of the following: (i)at the time of personal delivery, if delivery is in person; (ii) at the time of transmission by facsimile, addressed to the other party at its facsimile number specified herein (or hereafter modified by subsequent notice to the parties hereto), with confirmation of receipt made by both telephone and printed confirmation sheet verifying successful transmission of the facsimile; (iii) one business day after deposit with an express overnight courier for United States deliveries, or two business days after such deposit for deliveries outside of the United States; or (iv) three business days after deposit in the United States mail by certified mail (return receipt requested) for United States deliveries. All notices for delivery outside the United States will be sent by facsimile or by express courier. All notices not delivered personally or by facsimile will be sent with postage. and/or other charges prepaid and properly addressed to the party to be notified at the address or facsimile number set forth below the signature lines of this Agreement or at such other address or facsimile number as such other party may designate by one of the indicated means of notice herein to the other party hereto. Notices by facsimile will be machine verified as received.
(c)The parties agree to execute such further documents and instruments and to take such further actions as may be reasonably necessary to carry out the purposes and intent of this Agreement.
(d)The titles, captions and headings of this Agreement are included for ease of reference only and will be disregarded in interpreting or construing this Agreement. Unless otherwise specifically stated, all references herein to "sections" and "exhibits" will mean "sections" and "exhibits to this Agreement.
(e)This Agreement may be executed in any number of counterparts, each of which when so executed and delivered will be deemed an original, and all of which together will constitute one and the same agreement.
(f)Whenever possible, each provision or portion of any provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision or portion of any provision of this Agreement is held to be invalid, illegal or

unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect the validity, legality or enforceability of any other provision or portion of any provision in such jurisdiction, and this Agreement will be reformed, construed and enforced in such jurisdiction in such manner as will effect as nearly as lawfully possible the purposes and intent of such invalid, illegal or unenforceable provision.
(g)This Agreement may be executed and delivered by facsimile and upon such delivery the facsimile signature will be deemed to have the same effect as if the original signature had been delivered to the other party.
(h)Any amendment to the Plan will be deemed to be an amendment to this Agreement to the extent that the Plan amendment is applicable hereto; provided, however, that no amendment will adversely affect the rights of the Participant under this Agreement without the Participant's consent. No amendment of or waiver of, or modification of any obligation under this Agreement will be enforceable unless set forth in a writing signed by the party against which enforcement is sought. Any amendment effected in accordance with this section will be binding upon all parties hereto and each of their respective successors and assigns. No delay or failure to require performance of any provision of this Agreement will constitute a waiver of that provision as to that or any other instance. No waiver granted under this Agreement as to any one provision herein will constitute a subsequent waiver of such provision or of any other provision herein, nor will it constitute the waiver of any performance other than the actual performance specifically waived.
(i)It is intended that that any amounts payable under this Agreement and the Board's, or the Compensation Committee's, as applicable, exercise of authority or discretion hereunder comply with the provisions of Code Section 409A and the Treasury regulations relating thereto so as not to subject the Participant to the payment of the additional tax, interest and any tax penalty which may be imposed under Code Section 409A. Reference to Code Section 409A will also include any proposed, temporary or final regulations, or any other guidance promulgated with respect to such Section by the U.S. Department of the Treasury or the Internal Revenue Service. Notwithstanding the foregoing, no particular tax result for the Participant with respect to any income recognized by the Participant in connection with this Agreement is guaranteed, and the Participant will be responsible for any taxes, penalties and interest imposed on the Participant in connection with this Agreement.
10.Entire Agreement. This Agreement and the documents referred to herein constitute the entire agreement and understanding of the parties with respect to the subject matter of this Agreement, and supersede all prior understandings and agreements, whether oral or written, between or among the parties hereto with respect to the specific subject matter hereof.

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The Participant hereby accepts and agrees to be bound by all the terms and conditions of the Plan and this Agreement. The Board or the Compensation Committee, as constituted from time to time, will, except as expressly provided otherwise herein, have the right to determine any questions that arise in connection with this Agreement.
	
				
	 
	 
	 
	 

	 
	 
	 
	ALON USA ENERGY, INC.

	 
	 
	 
	 

	 
	 
	 
	 

	ACCEPTED:
	 
	 
	 

	 
	 
	 
	 

	/s/ James A. Ranspot
	 
	By:
	/s/ Paul Eisman

	Signature of Participant
	 
	Name:
	Paul Eisman

	 
	 
	Title:
	Chief Executive Officer

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