Document:

Exhibit

Exhibit 10.1

May 5, 2016

Ezra Uzi Yemin, President / CEO
Delek US Holdings, Inc.
7102 Commerce Way
Brentwood, TN 37027

Re:    Temporary Reduction to Base Compensation

Dear Uzi:

This letter confirms your agreement to waive 50% of your Base Compensation (as such term is defined in that certain Executive Employment Agreement dated November 1, 2013 (the “Employment Agreement”), by and between you and Delek US Holdings, Inc. (“Delek”) for a period beginning May 9, 2016 until such time as you determine, in your sole discretion, to revoke this waiver.  Delek agrees that this waiver shall not affect your rights under the Employment Agreement except as specifically set forth in this letter, and those rights shall be determined for all other purposes as if your Base Compensation continued to be paid at its then-approved level, without regard to this waiver, including without limitation, your rights as reflected in Sections 10 and 11 of the Employment Agreement and the definition of “Separation Payment” as set forth in Section 10(h)(viii).  In addition, to the extent that this waiver impacts your participation in, or the level of benefits provided under, any welfare benefit plan provided by Delek, Delek shall provide an equivalent benefit to you at no additional cost to you.  This letter will not impact your right to participate in any long term incentive program maintained by the Company, as described in Section 3(c) of the Employment Agreement.

Please confirm your agreement to these terms by signing below.

Sincerely,

DELEK US HOLDINGS, INC.

By: /s/ Donald N. Holmes            
Name:    Donald N. Holmes
Title:    EVP – Human Resources

By: /s/ Kent B. Thomas            
Name:    Kent B. Thomas
Title:    General Counsel

ACKNOWLEDGED AND AGREED this May 5, 2016.

/s/ Ezra Uzi Yemin                
Ezra Uzi YeminExhibit

Exhibit 10.3

SECOND AMENDMENT TO 
THIRD AMENDED AND RESTATED CREDIT AGREEMENT
This SECOND AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT dated as of December 10, 2015 (this “Amendment”), by and among MAPCO EXPRESS, INC., a Delaware corporation (the “Borrower”), Fifth Third Bank, as Administrative Agent ("Administrative Agent") for certain financial institutions party to the Credit Agreement described below (the “Lenders”), and the Lenders party hereto. 
W I T N E S S E T H:
 WHEREAS, the Borrower, Administrative Agent and the Lenders, are parties to that certain Third Amended and Restated Credit Agreement dated as of May 6, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”);
WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders amend the Credit Agreement in certain respects; and
WHEREAS, in light of such requests, on the terms and subject to the conditions set forth herein, Administrative Agent and the Required Lenders have agreed to amend the Credit Agreement as set forth herein.
NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto agree as follows:
1.Defined Terms.  Unless otherwise noted herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement (as amended hereby).
2.    Amendment to the Credit Agreement.  Effective as of the Second Amendment Effective Date (as defined herein), and in reliance upon the representations and warranties of the Loan Parties set forth in the Loan Documents and in this Amendment, the Credit Agreement is hereby amended as follows:
(a)    Section 1.1 of the Credit Agreement (Definitions).  Section 1.1 of the Credit Agreement is hereby amended by inserting the following new definitions in the appropriate alphabetical order:
“Second Amendment” means that certain Second Amendment to Third Amended and Restated Credit Agreement dated as of the Second Amendment Effective Date by and among the Borrowers, each other Loan Party, the Administrative Agent and the Lenders.
“Second Amendment Effective Date” has the meaning given to such term in the Second Amendment.

(b)    Amendment to Section 7.6(e) of the Credit Agreement (Limitation on Restricted Payments).  Section 7.6(e) of the Credit Agreement hereby is amended by deleting such Section in its entirety and substituting the following in lieu thereof:
“(e)    In addition to Restricted Payments otherwise permitted in this Section 7.6, at any time from and after April 30, 2017, the Borrowers may pay dividends to Holdings in an aggregate amount not to exceed $15,000,000 in any trailing four quarter period, provided, that, (i) such Restricted Payments shall be made quarterly (x) no earlier than five (5) Business Days after the date on which financial statements for the most recent quarter then ended have been timely received by the Administrative Agent (such financial statements, the "Applicable Quarterly Financial Statements"), and (y) no later than forty five (45) days following the date on which such Applicable Quarterly Financial Statements have been timely received by the Administrative Agent, (ii) after giving effect to such Restricted Payment, the Borrowers are in compliance on a pro forma basis with the covenants set forth in Section 7.1, recomputed using the Applicable Quarterly Financial Statements and the Borrowers shall have provided evidence to the Administrative Agent that the Consolidated Leverage Ratio on a pro forma basis after giving effect to the applicable Restricted Payment (and the incurrence of any Indebtedness in connection therewith), is not greater than .50x less than the covenant then in effect pursuant to Section 7.1(a), and (iii) no Default or Event of Default has occurred and is continuing or would arise as a result of such Restricted Payment;” 
(c)    Amendment to Section 7.6 of the Credit Agreement (Limitation on Restricted Payments).  Section 7.6 of the Credit Agreement is hereby amended by (i) deleting the “and” at the end of clause (f) thereof, (ii) deleting the period at the end of clause (g) thereof and substituting “; and” therefor and (iii) adding a new clause (h) thereto immediately following clause (g) thereof as follows:
“(h)    In addition to Restricted Payments otherwise permitted in this Section 7.6, the Borrowers may make, at any one time during the period commencing on the Second Amendment Effective Date and ending on December 31, 2015, a one-time dividend to Holdings in an aggregate amount not to exceed $30,000,000 using the proceeds of Revolving Loans and/or cash on hand, provided, that, (i) after giving effect to such Restricted Payment, the Borrowers are in compliance on a pro forma basis with the covenants set forth in Section 7.1, recomputed on a pro forma basis based on Borrowers’ unaudited financial statements delivered to the Lenders pursuant to Section 6.1(b) with respect of the fiscal quarter ended September 30, 2015 (the “September 2015 Financials”), but taking into account all Consolidated Total Debt and Funded Debt, as applicable, outstanding as of the date of such Restricted Payment, (ii) the Borrowers shall have provided evidence to the Administrative Agent that the Consolidated Leverage Ratio recomputed on a pro forma basis after giving effect to the Restricted Payment and the borrowing of Revolving Loans in connection therewith and based on the September 2015 Financials, but taking into account all Consolidated Total Debt outstanding as of the 

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date of such Restricted Payment, is not greater than .50x less than the covenant then in effect pursuant to Section 7.1(a), and (iii) no Default or Event of Default has occurred and is continuing or would arise as a result of such Restricted Payment.” 
3.    Conditions to Effectiveness.  The effectiveness of this Amendment is subject to the satisfaction of the following conditions precedent:
(a)    Amendment.  The Required Lenders shall have received this Amendment, executed and delivered by a duly authorized officer of the Borrower.
(b)    Amendment Fee.  The Borrower shall have delivered (and the Borrower hereby covenants and agrees to pay) to each Lender who has delivered an executed signature page to this Amendment on or prior to 5:00 P.M., New York City time, on the date hereof (collectively, the “Signing Lenders”) in immediately available funds, for the benefit of such Signing Lender, a non-refundable fee in an aggregate amount equal to .10% of such Signing Lender’s pro rata share of the aggregate amount of the Revolving Credit Commitments held by the Signing Lenders as of the date hereof, which fee shall be fully earned and payable as of the date hereof. 
(c)    Financial Reporting.  The receipt by the Administrative Agent and the Lenders of (x) the financial statements of the Borrower required to be delivered pursuant to Sections 6.1 (b) of the Credit Agreement with respect to the fiscal quarter ended September 30, 2015, and (y) the Compliance Certificate required pursuant to Section 6.2(b) of the Credit Agreement for the fiscal quarter ended September 30, 2015;
(d)    Additional Closing Deliveries.  The receipt by Administrative Agent of each of the documents, agreements, instruments and other deliveries set forth in the closing agenda attached hereto as Exhibit A, in each case, duly executed and delivered, as applicable, and in form and substance satisfactory to Administrative Agent, except for such deliveries that Administrative Agent has otherwise acknowledged may be delivered after the Second Amendment Effective Date pursuant to a written agreement; 
(e)    Representations and Warranties.  Each of the representations and warranties set forth in Section 4 hereof shall be true, accurate and complete in all respects; and
(f)    No Default.  No Default or Event of Default shall have occurred and be continuing or arise as a direct result of this Amendment or any of the transactions contemplated hereby.
The “Second Amendment Effective Date” shall mean the first date on which each of the conditions set forth in this Section 3 have been satisfied.
4.    Representations and Warranties.      To induce the Administrative Agent and the Lenders to enter into this Amendment, each Loan Party hereby represents and warrants to the Administrative Agent and Lenders that as of the date hereof:

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(a)    each of the representations and warranties made by such Loan Party contained in the Loan Documents are true and correct in all material respects (without duplication of any materiality qualifiers contained therein) as of such date, except to the extent such representation or warranty expressly relates to an earlier date (in which case, such representations and warranties were true and correct in all material respects (without duplication of any materiality qualifiers contained therein) as of such earlier date);
(b)    such Loan Party has all requisite corporate or limited liability company, as applicable, power and authority to execute, deliver and perform its obligations under this Amendment;
(c)    the execution, delivery and performance by such Loan Party of this Amendment have been duly authorized by all necessary action by such Loan Party;
(d)    this Amendment constitutes the legal, valid and binding obligation of such Loan Party, enforceable against such Person in accordance with its terms, except as may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability (regardless of whether the application of such principles is considered in a proceeding in equity or at law); and
(e)    no Default or Event of Default presently exists.
5.    Payment of Expenses.  The Borrowers agree to pay or reimburse the Administrative Agent for all of its reasonable out-of-pocket costs and expenses incurred in connection with this Amendment, any other documents prepared in connection herewith and the transactions contemplated hereby, including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent.
6.    GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
7.    No Modification.  Except as expressly set forth herein, the execution of this Amendment shall not (i) operate as a waiver of any right, power or remedy of Administrative Agent or any Lender or other Secured Party, (ii) constitute a waiver of compliance with any term or condition contained in the Credit Agreement or any of the other Loan Documents or (iii) constitute a course of conduct or dealing among the parties.  Except as expressly stated herein, Administrative Agent and the Lenders reserve all rights, privileges and remedies under the Loan Documents.  Except as expressly amended hereby the Credit Agreement remains unmodified and in full force and effect.  All references in the Loan Documents to the Credit Agreement shall be deemed to be references to the Credit Agreement as amended hereby.

8.    Counterparts.  This Amendment may be executed in any number of counterparts and by different parties in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same 

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agreement.  Signature pages may be detached from multiple separate counterparts and attached to a single counterpart.  
9.    Successors and Assigns.  The provisions of this Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns; provided that the Borrower may not assign or transfer any of its rights or obligations under this Amendment without the prior written consent of Administrative Agent. 
10.    Further Assurance.  The Borrowers hereby agree from time to time, as and when requested by Administrative Agent or Lenders, to execute and deliver or cause to be executed and delivered, all such documents, instruments and agreements and to take or cause to be taken such further or other action as Administrative Agent or Lenders may reasonably deem necessary or desirable in order to carry out the intent and purposes of this Amendment, the Credit Agreement and the Loan Documents.  
11.    Severability; Facsimile Signature.  The illegality or unenforceability of any provision of this Amendment or any document, instrument or agreement required hereunder or delivered in connection herewith shall not in any way affect or impair the legality or enforceability of the remaining provisions of this Amendment or any document, instrument or agreement required hereunder.  This Amendment, or any document, instrument or agreement required hereunder or delivered in connection herewith, delivered by facsimile transmission shall have the same force and effect as if the original thereof had been delivered.  

12.    Continued Effectiveness; No Novation.  Anything contained herein to the contrary notwithstanding, neither this Amendment nor any of the Loan Documents executed in connection herewith is intended to or shall serve to effect a novation of the Obligations under the Credit Agreement and the other Loan Documents.  Instead, it is the express intention of the parties hereto to reaffirm the indebtedness created under the Credit Agreement which is evidenced by the Credit Agreement, as amended hereby, the notes, if any, provided for therein and secured by the Collateral.  

13.    Release of Claims.     In consideration of the Lenders’ and Administrative Agent’s agreements contained in this Amendment, the Borrower hereby irrevocably releases and forever discharge the Lenders and the Administrative Agent and their affiliates, subsidiaries, successors, assigns, directors, officers, employees, agents, consultants and attorneys (each, a “Released Person”) of and from any and all claims, suits, actions, investigations, proceedings or demands, whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which the Borrower ever had or now has against Administrative Agent, any Lender or any other Released Person which relates, directly or indirectly, to any acts or omissions of Administrative Agent, any Lender or any other Released Person relating to the Credit Agreement or any other Loan Document on or prior to the date hereof. 

[SIGNATURE PAGES FOLLOW]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.
MAPCO EXPRESS, INC., as a Borrower

By:     /S/ Gregory A. Intemann        
Name:     Gregory A. Intemann            
Title:    Treasurer/Vice President        
 
By:     /S/ Assaf Ginzburg            
Name:     Assaf Ginzburg            
Title:    Executive Vice President/CFO    

Second Amendment to Third Amended and Restated Credit Agreement    

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.
 

FIFTH THIRD BANK, as Administrative Agent and a Lender
By:     /S/ Lisa R. Cook            
Name:     Lisa R. Cook                
Title:    Vice President                

 

Second Amendment to Third Amended and Restated Credit Agreement    

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.
 

REGIONS BANK, as a Lender 
 
 
By:     /S/ Stuart A. Hall            
Name:     Stuart A. Hall                
Title:    Senior Vice President            

Second Amendment to Third Amended and Restated Credit Agreement    

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.
 

Bank of America, NA., as a Lender 
 
 
By:     /S/ Thomas C. Kilcrease, Jr.        
Name:     Thomas C. Kilcrease, Jr.        
Title:    Senior Vice President            

Second Amendment to Third Amended and Restated Credit Agreement    

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.
 

Bank Hapoalim B.M., as a Lender 
 
 
By:     /S/ David Fishler            
Name:     David Fishler                
Title:    Senior Vice President             
Commercial Real Estate        
                        
By:     /S/ Tal Shpaizer            
Name:     Tal Shpaizer                
Title:    Vice President                
Israeli Business Group        

Second Amendment to Third Amended and Restated Credit Agreement    

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.
 

Bank of Montreal, as a Lender 
 
 
By:     /S/ C. Scott Place            
Name:     C. Scott Place                
Title:    Director                

Second Amendment to Third Amended and Restated Credit Agreement    

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.
 

First Tennessee Bank National Association, as a Lender 
 
 
By:     /S/ Sharon Shipley            
Name:     Sharon Shipley            
Title:    Vice President                

Second Amendment to Third Amended and Restated Credit Agreement    

EXHIBIT A

1.    Fee Letter by and between the Administrative Agent and the Borrower.

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