Document:

EX-10.26

 Exhibit 10.26 
 Marathon Petroleum Corporation 
 Amended and Restated 

Executive Change in Control Severance Benefits Plan 
 (Effective October 31, 2012) 
 1. Purpose of the Plan.

 Marathon Petroleum Corporation and its subsidiaries and affiliates recognize that the contributions of its senior
executives to the growth and success of the Corporation (as defined below) are and will continue to be substantial, and the Corporation desires to assure the continued employment of its senior executives. In this connection, the Board of Directors
of the Corporation (the “Board”) recognizes that, as is the case with many publicly-held corporations, the possibility of a change in control may exist and that such possibility, and the uncertainty and questions which it may raise among
management, may result in the departure or distraction of management personnel to the detriment of the Corporation and its stockholders. 
 Accordingly, the Board has determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of the Corporation’s senior executives to their assigned
duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a change in control of the Corporation. 
 In order to induce senior executives to remain in the employ of the Corporation, the Corporation has established this Marathon Petroleum Corporation Amended and Restated Executive Change in Control
Severance Benefits Plan (the “Plan”). 
 2. Definitions. 

As used in the Plan, the following terms shall have the following meanings (and the singular includes the plural, unless the context
clearly indicates otherwise): 
 Administrator: The Compensation Committee of the Board, provided that the Administrator
may delegate its authority under this Plan pursuant to such conditions or limitations as the Administrator may establish. 

Applicable Event: “Applicable Event” shall mean a Change in Control or a Potential Change in Control. 

Cause: “Cause” shall mean a Separation from Service of the Employee by the Corporation upon (i) the willful and
continued failure by the Employee to substantially perform the Employee’s duties with the Corporation (other than any such failure resulting from Separation from Service by the Employee for Good Reason or any such failure resulting from the
Employee’s incapacity due to physical or mental illness), after a demand for substantial performance is delivered to the Employee that specifically identifies the manner in which the Corporation believes that the Employee has not substantially
performed his or her duties, and the Employee has failed to resume substantial performance of his or her duties on a continuous basis within 14 days of receiving such demand, (ii) the willful engaging by the Employee in conduct which is
demonstrably and materially injurious to the Corporation, monetarily or otherwise or (iii) the Employee’s conviction of a felony or conviction of a misdemeanor which impairs the Employee’s ability substantially to perform his or her
duties with the Corporation. For purposes of Cause, no act, or failure to act, on the Employee’s part shall be deemed “willful” unless done, or omitted to be done, by the Employee not in good faith and without reasonable belief that
the action or omission was in the best interest of the Corporation. 

 Change in Control of the Corporation and Change in Control: A change in
control of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), whether or not the
Corporation is then subject to such reporting requirement; provided, that, without limitation, such a change in control shall be deemed to have occurred if: 
 (i) any person (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) (a “Person”) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange
Act), directly or indirectly, of securities of the Corporation (not including in the amount of the securities beneficially owned by such person any such securities acquired directly from the Corporation or its affiliates) representing twenty percent
(20%) or more of the combined voting power of the Corporation’s then outstanding voting securities; provided, however, that for purposes of this Plan the term “Person” shall not include (A) the Corporation or any of its
subsidiaries, (B) a trustee or other fiduciary holding securities under an employee benefit plan of the Corporation or any of its subsidiaries, (C) an underwriter temporarily holding securities pursuant to an offering of such securities,
or (D) a corporation owned, directly or indirectly, by the stockholders of the Corporation in substantially the same proportions as their ownership of stock of the Corporation; and provided, further, however, that for purposes of this paragraph
(i), there shall be excluded any Person who becomes such a beneficial owner in connection with an Excluded Transaction (as defined in paragraph (iii) below); or 

(ii) the following individuals cease for any reason to constitute a majority of the number of directors then serving:
individuals who, on the date hereof, constitute the Board and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest including, but not limited to, a consent
solicitation, relating to the election of directors of the Corporation) whose appointment or election by the Board or nomination for election by the Corporation’s stockholders was approved or recommended by a vote of at least two-thirds
(2/3) of the directors then still in office who either were directors on the date hereof or whose appointment, election or nomination for election was previously so approved or recommended; or 

(iii) there is consummated a merger or consolidation of the Corporation or any direct or indirect subsidiary thereof with
any other corporation, other than a merger or consolidation (an “Excluded Transaction”) which would result in the voting securities of the Corporation outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving corporation or any parent thereof) at least fifty (50%) of the combined voting power of the voting securities of the entity surviving the merger or consolidation (or the
parent of such surviving entity) immediately after such merger or consolidation, or the stockholders of the Corporation approve a plan of complete liquidation of the Corporation, or there is consummated the sale or other disposition of all or
substantially all of the Corporation’s assets. 
 Notwithstanding the foregoing or any provision of the Plan or the
applicable award agreement to the contrary, with respect to any settlement of awards or other distributions under this Plan which would be a payment of deferred compensation within the meaning of Section 409A of the Code with respect to the
Employee and which is a settlement or distribution made upon the Employee’s Separation from Service in connection with a Change in Control, the term “Change in Control” under this Plan shall have the same meaning as a change in
ownership or change in effective control for purposes of Section 409A of the Code. 

  
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 Corporation: Marathon Petroleum Corporation and each related company or business
which is part of the same controlled group under Code sections 414(b) or 414(c); provided that where specified by Marathon Petroleum Corporation in accordance with Code section 409A, in applying Code section 1563(a)(1) – (a)(3) for purposes of
determining a controlled group of corporations under Code section 414(b) and in applying Treasury Regulation section 1.414(c)-2 for purposes of determining whether trades or businesses are under common control under Code section 414(c), the phrase
“at least 50 percent” is used instead of “at least 80 percent.” 
 Disability or Disabled: The
Employee’s incapacity due to physical or mental illness which in the opinion of a licensed physician renders the Employee incapable of performing his or her assigned duties with the Corporation, and shall be deemed to occur on the earlier of
(i) the date there is no reasonable expectation the Participant will return to service with the Corporation or (ii) the date the Employee has been absent from the full-time performance of his or her duties with the Corporation for six
(6) consecutive months or more. 
 Effective Date: October 31, 2012. 

Employee: Senior executives of the Corporation who are grade 88 or higher. 

Good Reason: Without the Employee’s express written consent, the occurrence within two (2) years after a Change in
Control of the Corporation, or within two (2) years after and at the request of or as a result of actions by a third party who has taken steps reasonably calculated to effect a Change in Control or after the first day of but during a Potential
Change in Control Period, of any one (1) or more of the following: 
 (i) the assignment to the Employee of
duties inconsistent with his or her position immediately prior to the Applicable Event or a reduction or alteration in the nature of the Employee’s position, duties, status or responsibilities from those in effect immediately prior to the
Applicable Event; 
 (ii) a reduction by the Corporation in the Employee’s annualized and monthly or
semi-monthly rate of base salary (as increased to incorporate the Employee’s foreign service premium, if any) (“Base Salary”) as in effect immediately prior to the Applicable Event; 

(iii) the Corporation’s requiring the Employee to be based at a location in excess of fifty miles from the location
where the Employee was based immediately prior to the Applicable Event; 
 (iv) the failure by the Corporation
(a) to continue, substantially as in effect immediately prior to the Applicable Event, all of the Corporation’s employee benefit, incentive compensation, bonus, stock option and stock award plans, programs, policies, practices or
arrangements in which the Employee participates (or substantially equivalent successor plans, programs, policies, practices or arrangements) or (b) to continue the Employee’s participation therein on substantially the same basis, both in
terms of the amount of benefits provided and the level of the Employee’s participation relative to other participants, as existed immediately prior to the Applicable Event; 

(v) the failure of the Corporation to obtain an agreement from any successor to the Corporation to assume and agree to
perform this Plan, as contemplated in Section 6 hereof; and 

  
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 (vi) any purported Separation from Service by the Corporation of the
Employee’s employment that is not effected pursuant to, and satisfying the requirements of, a Notice of Termination, and for purposes of this Plan, no such purported Separation from Service shall be effective. 

The Employee’s right to Separate from Service for Good Reason shall not be affected by his or her incapacity due to physical or
mental illness. The Employee’s continued employment shall not constitute consent to, or a waiver of rights with respect to, any circumstance constituting Good Reason hereunder. The Employee’s determination of the existence of Good Reason
shall be final and conclusive unless such determination is not made in good faith and is made without reasonable belief in the existence of Good Reason. 
 MPC: Marathon Petroleum Corporation. 
 Notice of Termination: A
written notice which indicates the specific reason(s) relied upon by the Corporation for Separation from Service of an Employee and which sets forth in reasonable detail the facts and circumstances claimed to provide a basis for the Employee’s
Separation from Service. Any Separation from Service by the Corporation for Cause or for Disability shall be communicated by Notice of Termination to the Employee, and or any Separation from Service by the Employee for Good Reason shall be
communicated by Notice of Termination to the Corporation. 
 Plan: This plan, effective as of the Effective Date set
forth above, and as amended from time to time. 
 Potential Change in Control of the Corporation and Potential Change
in Control: A Potential Change in Control of the Corporation or Potential Change in Control shall be deemed to have occurred, if: 
 (i) the Corporation enters into an agreement, the consummation of which would result in the occurrence of a Change in Control of the Corporation; 

(ii) any Person (including the Corporation) publicly announces an intention to take or to consider taking actions which if
consummated would constitute a Change in Control of the Corporation; 
 (iii) any Person becomes the beneficial
owner, directly or indirectly, of securities of the Corporation representing 15% or more of the combined voting power of the Corporation’s then outstanding securities (not including in the amount of the securities beneficially owned by such
Person any such securities acquired directly from the Corporation or its affiliates); or 
 (iv) the Board adopts
a resolution to the effect that, for purposes of this Plan, a Potential Change in Control of the Corporation has occurred. 

Potential Change in Control Period: The period beginning on the date a Potential Change in Control occurs and ending on the
earlier of (i) the date on which a Change in Control occurs or (ii) the date the Board makes a good faith determination that the risk of a Change in Control has terminated. 

Qualified Termination: An Employee has a Qualified Termination if he or she Separates from Service within two (2) years after
the date of a Change in Control unless such Separation from Service is (i) due to death or Disability, (ii) by the Corporation for Cause, (iii) by the Employee other than for Good Reason or (iv) on or after the date that the
Employee attains age 65. If an Employee Separates from Service prior to a Change in Control and such Separation from Service is other than (w) due to death or Disability, (x) by the Corporation for Cause, (y) by the Employee other
than for Good Reason or (z) on or 

  
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after the date that the Employee attains age 65, the Employee will be deemed to have a Qualified Termination prior to a Change in Control so long as the Employee reasonably demonstrates that such
Separation from Service (I) was at the request of or as a result of actions by a third party who has taken steps reasonably calculated to effect a Change in Control or (II) occurs during a Potential Change in Control Period. 

Separation Date: The date that an Employee has a Separation from Service. 

Separation from Service or Separate from Service: Separation from Service shall have the same meaning as set forth under
Code section 409A with respect to the Corporation. 
 Severance Benefits: The benefits specified in Section 3(d)
hereof that are due to an Employee who has a Qualified Termination. 
 Speedway: Speedway LLC and its subsidiaries, or,
as applicable, any successor(s) to Speedway LLC and its subsidiaries. 
 3. Compensation Upon Separation from Service or
During Disability 
 a. Disability 
 During any period following an Applicable Event during which an Employee fails to perform his or her full-time duties with the Corporation as a result of incapacity due to physical or mental illness, such
Employee’s total compensation, including Base Salary, bonus and any benefits, will continue unaffected until either such Employee’s Separation Date or such Employee returns to the full-time performance of his or her duties. In the event
the Employee returns to the full-time performance of his or her duties prior to a Separation from Service, such Employee shall continue to receive his or her full Base Salary and bonus plus all other amounts to which such Employee is entitled under
any compensation or other employee benefit plan of the Corporation without interruption. If an Employee is determined to be Disabled, the Corporation shall promptly cause the Employee to have a Separation from Service due to Disability. In the event
of an Employee’s Separation from Service due to Disability, such Employee shall not be entitled to Severance Benefits under this Plan and such Employee’s benefits shall be determined in accordance with the Corporation’s retirement,
insurance and other applicable programs and plans then in effect. 
 b. Separation from Service for Cause or Voluntary
Separation from Service for Other Than Good Reason 
 If an Employee has a Separation from Service by the Corporation for
Cause or by the Employee other than for Good Reason, the Corporation shall pay such Employee his or her full Base Salary through the Separation Date at the rate in effect at the time Notice of Termination is given, plus all other amounts to which
such Employee is entitled under any compensation or benefit plan of the Corporation at the time such payments are due, and the Corporation shall have no further obligations to such Employee under this Plan. 

c. Death 

If an Employee has a Separation from Service by reason of his or her death, such Employee’s benefits shall be determined in
accordance with the Corporation’s retirement, survivor’s benefits, insurance and other applicable programs and plans then in effect, and such Employee shall not be entitled to Severance Benefits hereunder. 

  
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 d. Qualified Termination 

If an Employee has a Qualified Termination, he or she shall be entitled to the following Severance Benefits: 

(i) Accrued Compensation and Benefits. The Corporation shall provide to the Employee: 

(A) the Employee’s Base Salary accrued through the Separation Date to the extent not theretofore provided;

 (B) a lump sum cash amount equal to the value of the Employee’s unused vacation days accrued through the
Separation Date; and 
 (C) the Employee’s normal post-termination compensation and benefits under the
Corporation’s retirement, insurance and other compensation and benefit plans as in effect immediately prior to the Separation Date, or if more favorable to the Employee, immediately prior to the Applicable Event, which shall be paid at the time
or times indicated pursuant to the terms of the plans or arrangements providing for such benefits. 
 (ii) Lump Sum Severance Payment. The Corporation shall provide to the Employee a severance payment in the form of a cash lump sum distribution equal to the Employee’s Current Annual
Compensation (as defined below) multiplied times three (3); provided, however, that if the Employee attains age 65 within three (3) years of the Separation Date, the Employee’s benefit will be limited to a pro rata portion of such benefit
based on a fraction equal to the number of full and partial months existing between the Separation Date and the Employee’s sixty-fifth (65th) birthday divided by thirty-six (36) months. For purposes of this paragraph, the term “Current Annual
Compensation” shall mean the sum of: 
 (A) the Employee’s Base Salary in effect immediately prior to
the occurrence of the circumstances giving rise to such Separation from Service or, if higher, immediately prior to the Applicable Event; and 
 (B) an amount equal to the highest annual bonus awarded to the Employee, if any, under any annual bonus plan of the Corporation or its predecessor in the three (3) years immediately preceding the
Separation Date or, if higher, in the three (3) years immediately preceding the Applicable Event. 
 (iii)
Continuation of Welfare Benefits. Subject to the benefits offset described below, the Corporation will arrange to make available to the Employee life and health insurance benefits during the Welfare Continuation Period (as defined below) that
are substantially similar to those which the Employee was receiving under a Corporation-sponsored welfare benefit plan immediately prior to the Separation Date or, if more favorable to the Employee, immediately prior to the Applicable Event. These
benefits will be provided at a cost to the Employee that is no greater than the amount paid for such benefits by active employees who participate in such Corporation-sponsored welfare benefit plan or, if less, the amount paid for such benefits by
the Employee immediately prior to the Applicable Event. The Welfare Continuation Period extends from the Separation Date for a period of thirty-six (36) months, or, if earlier, until the Employee attains age sixty-five (65). 

The benefits otherwise receivable by the Employee pursuant to this paragraph (iii) shall be reduced to the extent comparable
benefits are actually received by the Employee during the Welfare Continuation Period. For purposes of complying with the terms of this offset, the Employee is obligated to report to the Corporation the amount of any such benefits actually received.

  
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 (iv) Retiree Medical and Life Benefits. The Corporation will arrange
to make available to the Employee retiree life and health insurance benefits determined as if under the Corporation’s welfare benefit plans the Employee’s actual participation credit (or continuous service) and actual age as of the
Separation Date were increased by the additional three (3) years of service and age provided in paragraph 3(d)(v)(A)(3) below. If eligible for such coverage, the Employee may elect to commence participation in retiree medical benefits coverage
at any time following the expiration of the Welfare Continuation Period (or immediately after the Separation Date, if the Employee satisfies the eligibility requirements without taking into consideration the additional three (3) years of
service and age). 
 Such retiree medical and life insurance coverage, if any, will be provided by the entity that is the
Employee’s employer as of the Separation Date. 
 (v) Supplemental Retirement Benefit. In addition to
the pension benefits to which the Employee is entitled under the Corporation’s defined benefit pension plans, the Corporation shall provide to the Employee, in the form of a cash lump sum distribution, a benefit (the “Supplemental
Retirement Benefit”) equal to the difference between: (A) the lump sum value of the Employee’s Enhanced Pension Benefit (as defined in paragraph (A) below), and (B) the lump sum value of the Employee’s Actual Pension
Benefit (as defined in paragraph (B) below). The methods and assumptions that existed under the applicable Corporation pension plan (or plans) immediately prior to the Applicable Event for purposes of determining a lump sum distribution shall
be used for purposes of determining the lump sum values in (A) and (B). In determining the Enhanced Pension Benefit and the Actual Pension Benefit, amendments to the MPC Pension Plans, and the Speedway Pension Plans (as each is defined in
paragraph 3(d)(v)(B) below) made subsequent to the Applicable Event and on or prior to the Separation Date, if any, shall be disregarded if they adversely affect in any manner the computation of retirement benefits thereunder. 

(A) Enhanced Pension Benefit. The amount of the Employee’s Enhanced Pension Benefit shall be equal to the
Actual Pension Benefit for which the Employee is eligible under the MPC Pension Plans, and the Speedway Pension Plans as of the Separation Date, as adjusted to incorporate the enhancements outlined in paragraphs (1) through (6) below. The
enhancements outlined in this paragraph (A) shall be applied only to the Employee’s benefits under the MPC Pension Plans, or the Speedway Pension Plans in which the Employee was an active participant as of the Separation Date. 

(1) Normal Retirement Benefit - Service. For purposes of determining the Employee’s monthly normal retirement
benefit payable at normal retirement age, service used in the formula(s) shall be deemed to be equal to the sum of the Employee’s actual service for benefit accrual purposes plus three (3) years. For this purpose, the Employee’s
actual service shall be determined as of the Separation Date. 
 (2) Normal Retirement Benefit - Final
Average Pay. For purposes of determining the Employee’s monthly normal retirement benefit payable at normal retirement age, final average pay shall be calculated using the sum of: 

 

	 	I.	the Employee’s Base Salary in effect immediately prior to the occurrence of the circumstances giving rise to such Separation from Service or, if higher,
immediately prior to the Applicable Event; and 

  

	 	II.	 if bonus is considered covered compensation under the applicable pension plan, an amount equal to the highest annual bonus awarded to the Employee, if
any, under 

  
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any annual bonus plan of the Corporation or its predecessor with respect to the three (3) years immediately preceding the Separation Date or, if higher, the three (3) years immediately
preceding the Applicable Event (but not less than the amount of bonus taken into account in the Employee’s Actual Pension Benefit). 

 Final average pay taken into account for this paragraph shall not be less than the amount of final average pay taken into account in the determination of the Employee’s Actual Pension Benefit.

 (3) Early Commencement Factors—Enhanced Service and Age. For purposes of determining the
early commencement factors that apply to the Employee’s monthly normal retirement benefit, the Employee’s service and age shall be deemed equal to the Employee’s actual service and age plus three (3) years of service and three
(3) years of age, respectively. For this purpose, the Employee’s actual service and actual age shall be determined as of the Separation Date. 
 (4) Full Vesting. The Employee’s accrued benefits under the MPC Pension Plans and the Speedway Pension Plans shall be deemed to be fully vested or, to the extent not so vested, paid as an
additional benefit under this Plan. 
 (5) Special Speedway Provisions. If the Employee is employed by
Speedway on the Separation Date: 
  

	 	I.	the additional service credit under paragraph (1) above shall be disregarded for purposes of calculating the accrued benefit under the prior traditional defined
benefit plan formula under the Speedway Retirement Plan which is otherwise applicable in determining the Enhanced Pension Benefit, but shall be counted for early retirement eligibility and other purposes; and 

 

	 	II.	in calculating the Enhanced Pension Benefit related to the pension equity formula under the Speedway Retirement Plan, the additional service credit under paragraph
(1) above shall be disregarded and instead the Employee shall be deemed to have Speedway Retirement Plan benefit accruals for three (3) additional years following the Separation Date. The age and participation service points for each
deemed year of accrual shall be calculated based on what the Employee’s actual age and service would have been at the end of each calendar year had the Employee remained employed with Speedway. 

(6) Determination of Age—All other purposes. Except as specifically provided otherwise in this
paragraph (A), the Employee’s age, as well as the age of the Employee’s spouse, survivor, and/or co-pensioner, used in the determination of the amount of benefits payable under the applicable pension plan shall be determined using the
Employee’s age and their actual ages as of the Separation Date. 
 (B) Actual Pension Benefit. The
amount of the Employee’s Actual Pension Benefit is determined as the sum of the monthly pension benefits payable to the Employee as of the Separation Date under the tax-qualified defined benefit pension plans, non-qualified defined benefit
excess benefit plans, and non-qualified top-hat or supplemental defined benefit plans sponsored or maintained by the Corporation or Speedway (or any successor plans or similar plans) (the “MPC Pension Plans,” and the “Speedway Pension
Plans,” as applicable). 

  
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 (vi) Supplemental Savings Benefit. In addition to the benefits the
Employee is entitled to under the Marathon Petroleum Thrift Plan and the related non-qualified supplemental savings plans (“Savings Plans”), the Corporation shall provide to the Employee, in the form of a cash lump sum distribution, a
benefit equal to the excess, if any, of: 
 (A) the amount the Employee would have been entitled to under the
Savings Plans determined as if the Employee was fully vested thereunder on the Separation Date, over 
 (B) the
amount the Employee is entitled to under the Savings Plans on the Separation Date. 
 (vii) Timing. To the
extent that payments under this paragraph (d) are not deferred compensation within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and except as otherwise specifically stated herein, the
payments provided for in this paragraph (d) shall be made not later than thirty days following the Separation Date. Notwithstanding any provision of the Plan to the contrary, if the Employee is a “specified employee” as determined by
the Corporation in accordance with its established policy, any payments of deferred compensation within the meaning of Section 409A of the Code payable to the Employee as a result of the Employee’s Separation from Service (other than as a
result of death) which would otherwise be paid within six (6) months of his or her Separation from Service shall be payable on the date that is one (1) day after the earlier of (i) the date that is six (6) months after the
Employee’s Separation Date or (ii) the date that otherwise complies with the requirements of Section 409A of the Code. Each payment described herein is hereby designated as a “separate payment” for purposes of
Section 409A of the Code. 
 (e) The Corporation shall also pay to the Employee all legal fees and expenses incurred by the
Employee, as such legal fees and expenses are incurred but no later than the end of the calendar year after such fees and expenses were incurred, as a result of Separation from Service (including all such fees and expenses, if any, incurred in
contesting or disputing any such Separation from Service or in seeking to obtain or enforce any right or benefit provided by this Plan or in connection with any tax audit or proceeding to the extent attributable to the application of
Section 4999 of the Code to any payment or benefit provided hereunder) or otherwise. 
 (f) Other than as provided in
Section 3(d)(iii), the Employee shall not be required to mitigate the amount of any payment provided for in this Section 3 by seeking other employment or otherwise, nor shall the amount of any payment provided for in this Section 3 be
reduced by any compensation earned by the Employee as the result of employment by another employer, including self-employment, after the Separation Date, or otherwise. 
 4. Incentive Awards. 
 a. General. 

This Section 4 shall not delay the vesting of any outstanding options, stock appreciation rights, stock awards and
restricted stock awards or cash awards granted to the Employee under any option or incentive plan of the Corporation past the date when such awards would, by their terms have become vested. However, this Section 4 provides for accelerated
vesting of awards which, by their terms, would not become vested upon a Qualified Termination. In addition, to the extent required for compliance with the requirements of Code Section 409A, this Section 4 shall delay the settlement of such
awards, as set forth in Section 4(e) below, if such awards would have been settled upon a Qualified Termination. Also, notwithstanding anything in this Plan or this Section 4 to the 

  
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contrary, the provisions of this Section 4 shall not amend or modify any award described herein which was granted prior to the Effective Date of this Plan. With respect to any awards
described herein that are granted on and after the Effective Date of this Plan, the terms of this Section 4 regarding vesting and settlement of awards upon a Qualified Termination shall be considered an integral term of such awards but shall
not prevent such awards from being distributed upon any earlier distribution event which is provided for under the applicable award agreement or plan. 
 b. Options, Stock Appreciation Rights, Stock Awards and Cash Awards. 
 Upon a Qualified Termination all outstanding options, stock appreciation rights, stock awards, and restricted stock awards or cash awards granted to the Employee under any option or incentive plan of the
Corporation shall be immediately fully vested and immediately exercisable and shall remain so exercisable throughout their entire original terms, and all stock awards, restricted stock awards, and cash awards shall be immediately vested and, subject
to Section 4(e) shall be settled upon vesting. 
 c. Restricted Stock Units. 

Upon a Qualified Termination all outstanding restricted stock unit awards shall be immediately vested. To the extent that
immediate settlement of vested outstanding restricted stock units would result in an adverse tax consequence to an Employee under Section 409A of the Code, then outstanding restricted stock units will (subject to Section 4(e)) be settled
upon the earliest to occur of (i) the date on which a change in ownership or change in effective control for purposes of Section 409A of the Code occurs and the Employee has a Separation from Service in connection with such change of
control, or (ii) the date on which the restricted stock units would have been settled absent a Change in Control. 
 d.
Separation Date Following Potential Change in Control. 
 If the Employee has a Separation from Service prior
to a Change in Control which also constitutes a Qualified Termination, and the Employee is entitled to benefits under Section 3(d), as of the Separation Date all outstanding options and stock appreciation rights shall be immediately fully
vested and immediately exercisable and shall remain so exercisable throughout their entire original terms, and all stock awards, restricted stock awards, restricted stock unit awards and cash awards shall be immediately vested and, subject to
Section 4(e), shall be settled upon vesting. 
 e. Settlement of Deferred Compensation Awards. 

Notwithstanding any provision of the Plan or the applicable award agreement to the contrary, if the Employee is a
“specified employee” as determined by the Corporation in accordance with its established policy, any settlement of awards described in this Section 4 which would be a payment of deferred compensation within the meaning of
Section 409A of the Code with respect to the Employee as a result of the Employee’s Separation from Service (other than as a result of death) and which would otherwise be paid within six (6) months of the Employee’s Separation
Date shall be payable on the date that is one (1) day after the earlier of (i) the date that is six (6) months after the Employee’s Separation Date or (ii) the date that otherwise complies with the requirements of
Section 409A of the Code. In addition, notwithstanding any provision of the Plan or the applicable award agreement to the contrary, any settlement of awards described in this Section 4 which would be a payment of deferred compensation
within the meaning of Section 409A of the Code with respect to the Employee and is a settlement as a result of the Employee’s Separation from Service in connection with a Change in Control, the term “Change in Control” under this
Plan shall mean a 

  
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change in ownership or change in effective control for purposes of Section 409A of the Code. Each payment described herein is hereby designated as a “separate payment” for purposes
of Section 409A of the Code. 
 5. Successors; Binding Plan. 

a. Successors to the Corporation 
 The Corporation will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Corporation or of
any division or subsidiary thereof employing the Employee to expressly assume and agree to perform this Plan in the same manner and to the same extent that the Corporation would be required to perform it if no such succession had taken place.
Failure of the Corporation to obtain such assumption and agreement prior to the effectiveness of any such succession shall be a breach of this Plan and shall entitle the Employee to compensation from the Corporation in the same amount and on the
same terms as the Employee would be entitled hereunder if the Employee had a Separation from Service for Good Reason following an Applicable Event, except that for purposes of implementing the foregoing, the date on which any such succession becomes
effective shall be deemed the Separation Date. 
 b. Representatives or Heirs of Employee 

This Plan shall inure to the benefit of and be enforceable by the Employee’s personal or legal representatives,
executors, administrators, successors, heirs, distributees, devisees and legatees. If the Employee should die while any amount would still be payable to the Employee hereunder if the Employee had continued to live, all such amounts, unless otherwise
provided herein, shall be paid in accordance with the terms of this Plan to the Employee’s devisee, legatee or other designee or, if there is no such designee, to the Employee’s estate. 

6. Notice 

For the purpose of this Plan, notices and all other communications provided for in the Plan shall be in writing and shall be deemed to
have been duly given when delivered or mailed by United States registered mail, return receipt requested, postage prepaid, addressed to the respective addresses set forth on the first page of this Plan. 

7. Miscellaneous 
 No provision of this Plan may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Employee and such officer as may be specifically
designated by the Board. The validity, interpretation, construction and performance of this Plan shall be governed by the laws of the State of Delaware. 
 8. Validity 
 The invalidity or unenforceability of any provision of this
Plan shall not affect the validity or enforceability of any other provision of this Plan, which shall remain in full force and effect. 
 9. Counterparts 
 This Plan may be executed in several counterparts, each of
which shall be deemed to be an original but all of which together will constitute one (1) and the same instrument. 

  
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 10. Claims and Arbitration 

Any dispute or controversy arising under or in connection with this Plan shall be settled exclusively by arbitration in accordance with
the rules of the American Arbitration Association then in effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction; provided, however, that the Employee shall be entitled to seek specific performance of his or
her right to be paid until the Separation Date during the pendency of any dispute or controversy arising under or in connection with this Plan. Any such arbitration shall be held in Findlay, Ohio. 

11. Plan Amendment and Termination 
 The Corporation may at any time amend or terminate this Plan, provided that for a period of two (2) years following a Change in Control, the Plan may not be amended in a manner adverse to an Employee
with respect to that Change in Control. Any amendment or termination shall be set out in an instrument in writing and executed by an appropriate officer of the Corporation. 
 12. Entire Plan 
 Except as specifically modified, waived or discharged in
an individual agreement between an Employee and the Corporation which meets the requirements of Section 8 of this Plan, this Plan supersedes any other agreement or understanding between the parties hereto with respect to the issues that are the
subject matter of this Plan. 
 IN WITNESS WHEREOF, Marathon Petroleum Corporation has caused its name to be hereunto
subscribed by its Senior Vice President, Human Resources and Administrative Services . 
  

			
	MARATHON PETROLEUM
CORPORATION
		
		 	 /s/ Rodney P. Nichols

	 By:
	 	Rodney P. Nichols
	 Its:
	 	Senior Vice President, Human
Resources and Administrative
Services

  
 12EX-10.32

 Exhibit 10.32 
 MPLX LP 
 2012 INCENTIVE COMPENSATION PLAN 

MPC NON-EMPLOYEE DIRECTOR PHANTOM UNIT AWARD POLICY 
 (Adopted effective December 3, 2012) 
 Pursuant to this Award Policy
and the MPLX LP 2012 Incentive Compensation Plan (the “Plan”), MPLX GP LLC, a Delaware limited liability company (the “Company”), the general partner of MPLX LP, a Delaware limited partnership (the “Partnership”),
hereby grants to each of the non-employee directors of Marathon Petroleum Corporation (“MPC”), the parent corporation of the Company, serving on the Board of Directors of MPC (each a “Participant”), on the first trading day of
each calendar quarter (each a “Grant Date”), that number of Phantom Units determined by dividing ten percent of the total value of the equity component of such Participant’s quarterly MPC non-employee director compensation by the
closing market price of a Common Unit of the Partnership as reported on the Consolidated Tape System on the Grant Date. The number of Phantom Units awarded is subject to proration in the event an MPC non-employee director commences service on the
MPC Board of Directors other than at the commencement of a calendar quarter and adjustment as provided in the Plan, and the Phantom Units hereby granted are also subject to the following terms and conditions: 

1. Relationship to the Plan. The grants of Phantom Units under this Award Policy are subject to all of the terms, conditions and
provisions of the Plan and administrative interpretations, if any, that have been adopted by the “Committee,” as such term is defined in the Plan. Except as defined in this Award Policy, capitalized terms shall have the same meanings given
to them under the Plan. To the extent any provision of this Award Policy conflicts with the express terms of the Plan, the terms of the Plan shall control and, if necessary, the applicable provisions of this Award Policy shall be hereby deemed
amended so as to carry out the purpose and intent of the Plan. 
 2. Settlement of Phantom Units. The Phantom Units
granted under this Award Policy shall be settled in full in the form of a Common Unit of the Partnership for each Phantom Unit subject to this Award Policy upon the earlier of the Participant’s departure from the MPC Board of Directors or the
Participant’s death. 
 3. Dividends and Cash Distributions. During the period of time between the Grant Date and
the date the Phantom Units are settled, for any dividends and/or cash distributions paid by the Partnership on outstanding Common Units of the Partnership, the Participant shall be credited with additional Phantom Units, including any fractional
Phantom Units, based on the Fair Market Value of a Common Unit of the Partnership on the date such dividend and/or cash distribution is made. Any additional Phantom Units granted pursuant to this Section shall be subject to the same terms and
conditions applicable to the Phantom Units to which these dividend and/or cash distributions relate, including, without limitation, the restrictions on transfer, forfeiture, settlement and distribution provisions contained in this Award Policy or
the Plan. 
 4. Issuance of Common Units. During the period of time between the Grant Date and the date the Phantom Units
settle, the Phantom Units will be evidenced by a credit to a bookkeeping account evidencing the unfunded and unsecured right of the Participant to receive shares of Common Units, subject to the terms and

  
 1 

 
conditions applicable to the Phantom Units. Upon the settlement date as described in Paragraph 2 above, the Participant’s shall be entitled to receive a number of Common Units of the
Partnership equal to the total of the number of Phantom Units granted and any additional Phantom Units credited pursuant to Paragraph 3 above with any fractional Phantom Units remaining settled in cash. Such Common Units shall be issued and
registered in the name of the Participant. Subject to the terms of the Plan, all amounts payable to the Participant in respect of the Phantom Units, including the issuance of Common Units of the Partnership pursuant to this Paragraph 4, shall be
paid as of the first day of the calendar month following the expiration of 45 days following the settlement date or as soon as reasonably practicable following the settlement date for such Phantom Units, but, in no event, later than
March 15th of the year following the year in which
the settlement date for the Phantom Units occurs. The Participant shall not have the right or be entitled to exercise any voting rights, receive cash distributions or dividends or have or be entitled to any rights as a partnership unit holder in
respect of the Phantom Units until such time as the Phantom Units have been settled and corresponding Common Units of the Partnership have been issued. 
 5. Nonassignability. Upon the Participant’s death, the Phantom Units credited to the Participant under this Award shall be transferred to the Participant’s beneficiary as designated under
the Marathon Petroleum Deferred Compensation Plan for Non-Employee Directors, or if no such beneficiary designation has been executed by Participant, to the Participant’s estate and upon such transfer settled in Common Units of the Partnership.
Otherwise, the Participant may not sell, transfer, assign, pledge or otherwise encumber any portion of the Phantom Units, and any attempt to sell, transfer, assign, pledge, or encumber any portion of the Phantom Units shall have no effect.

 6. Nature of the Grant. Under this Award Policy, the Participant is not an employee of the Company, the Partnership or
MPC, and this Award of Phantom Units is granted in connection with service as a Non-Employee Director on the MPC Board to the benefit of the Company and the Partnership and should not be considered in any way as compensation for, or relating in any
way to, past services for the Company, the Partnership or MPC, or any affiliates or predecessors of any of the foregoing as an employee. 
 7. Modification of Policy. Any modification of this Award Policy shall be binding only if evidenced by resolution of the Board of the Company, provided that no modification may, without the consent
of the Participant, adversely affect the rights of the Participant. 

  
 2

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