Document:

exv10w2

Exhibit 10.2

EXECUTION
VERSION

TANKAGE, LOADING RACK AND CRUDE OIL RECEIVING

THROUGHPUT AGREEMENT

(CHEYENNE)

     This Tankage, Loading Rack and Crude Oil Receiving Throughput Agreement (this
“Agreement”) is dated as of November 9, 2011 to be effective as of the Effective Time (as
defined below), by and between Frontier Refining LLC, a Delaware limited liability company
(“Frontier Cheyenne”), and Cheyenne Logistics LLC, a Delaware limited liability company
(“Cheyenne Logistics”). Each of Frontier Cheyenne and Cheyenne Logistics are individually
referred to herein as a “Party” and collectively as the “Parties.”

RECITALS:

     WHEREAS, pursuant to that certain LLC Interest Purchase Agreement dated effective as of
November 1, 2011 (the “Purchase Agreement”) by and among HollyFrontier Corporation, a
Delaware corporation (“HollyFrontier”), Frontier El Dorado Refining LLC, a Delaware limited
liability company, Frontier Cheyenne, Holly Energy Partners — Operating, L.P., a Delaware limited
partnership (“Purchaser”), and Holly Energy Partners, L.P., a Delaware limited partnership,
Purchaser acquired all of the limited liability company interests in Cheyenne Logistics and became
the sole member thereof (the “Sale”);

     WHEREAS, prior to the Sale, Cheyenne Logistics acquired certain crude oil receiving, storage
tank and loading rack assets located at Frontier Cheyenne’s refinery in Cheyenne, Wyoming (the
“Refinery”); and

     WHEREAS, in connection with the closing of the transactions contemplated under the Purchase
Agreement, Frontier Cheyenne and Cheyenne Logistics desire to enter into this Agreement.

     NOW, THEREFORE, in consideration of the covenants and obligations contained herein, the
Parties hereby agree as follows:

     Section 1. Definitions

     Capitalized terms used throughout this Agreement and not otherwise defined herein shall have
the meanings set forth below.

     “Affiliate” means, with to respect to a specified person, any other person
controlling, controlled by or under common control with that first person. As used in this
definition, the term “control” includes (i) with respect to any person having voting securities or
the equivalent and elected directors, managers or persons performing similar functions, the
ownership of or power to vote, directly or indirectly, voting securities or the equivalent
representing 50% or more of the power to vote in the election of directors, managers or persons
performing similar functions, (ii) ownership of 50% or more of the equity or equivalent interest in
any person and (iii) the ability to direct the business and affairs of any person by acting as a
general partner, manager or otherwise. Notwithstanding the foregoing, no HollyFrontier Entity will
be considered an

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Affiliate of an HEP Entity, and no HEP Entity will be considered an Affiliate of a
HollyFrontier Entity.

     “Agreement” has the meaning set forth in the preamble to this Agreement.

     “Applicable Law” means any applicable statute, law, regulation, ordinance, rule,
judgment, rule of law, order, decree, permit, approval, concession, grant, franchise, license,
agreement, requirement, or other governmental restriction or any similar form of decision of, or
any provision or condition of any permit, license or other operating authorization issued under any
of the foregoing by, or any determination of, any Governmental Authority having or asserting
jurisdiction over the matter or matters in question, whether now or hereafter in effect and in each
case as amended (including, without limitation, all of the terms and provisions of the common law
of such Governmental Authority), as interpreted and enforced at the time in question.

     “Arbitrable Dispute” means any and all disputes, Claims, controversies and other
matters in question between Frontier Cheyenne, on the one hand, and Cheyenne Logistics, on the
other hand, arising out of or relating to this Agreement or the alleged breach hereof, or in any
way relating to the subject matter of this Agreement regardless of whether (a) allegedly
extra-contractual in nature, (b) sounding in contract, tort or otherwise, (c) provided for by
Applicable Law or otherwise or (d) seeking damages or any other relief, whether at law, in equity
or otherwise.

     “Assumed OPEX” means the amount set forth on Schedule IV attached hereto.

     “bpd” means barrels per day.

     “Cheyenne Assets” has the meaning given to such term in the Purchase Agreement.

     “Cheyenne Logistics” has the meaning set forth in the preamble to this Agreement.

     “Cheyenne Logistics Payment Obligations” has the meaning set forth in Section
15(a).

     “Claim” means any existing or threatened future claim, demand, suit, action,
investigation, proceeding, governmental action or cause of action of any kind or character (in each
case, whether civil, criminal, investigative or administrative), known or unknown, under any
theory, including those based on theories of contract, tort, statutory liability, strict liability,
employer liability, premises liability, products liability, breach of warranty or malpractice.

     “Claimant” has the meaning set forth in Section 13(e).

     “Closing Date” has the meaning for such term in the Purchase Agreement.

     “Contract Quarter” means a three-month period that commences on January 1, April 1,
July 1, or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

     “Control” (including with correlative meaning, the term “controlled by”) means, as
used with respect to any Person, the possession, direct or indirect, of the power to direct or
cause the

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direction of the management and policies of such Person, whether through the ownership of
voting securities, by contract or otherwise.

     “Crude Oil” means the direct liquid product of oil wells, oil processing plants, the
indirect liquid petroleum products of oil or gas wells, oil sands or a mixture of such products,
but does not include natural gas liquids or Refined Products.

     “Crude Oil Receiving Assets” means the pipelines set forth on Exhibit B
attached hereto.

     “Crude Oil Receiving Base Tariff” means the amount set forth under such term on
Schedule I attached hereto.

     “Crude Oil Receiving Incentive Tariff” means the amount set forth under such term on
Schedule I attached hereto.

     “Crude Oil Receiving Incentive Tariff Threshold” means 50,600 pbd of Crude Oil, in the
aggregate, on average for each month.

     “Deficiency Notice” has the meaning set forth in Section 9(a).

     “Deficiency Payment” has the meaning set forth in Section 9(a).

     “Disputed Deficiency Notice” has the meaning set forth in Section 9(a).

     “Disputed Deficiency Payment” has the meaning set forth in Section 9(a).

     “DRA” has the meaning set forth in Section 2(f).

     “Effective Time” means 12:01 a.m., Dallas, Texas time, on November 1, 2011.

     “Environmental Law” shall have the meaning given such term in the Omnibus Agreement.

     “Environmental Permits” has the meaning set forth in Section 2(q).

     “Force Majeure” means acts of God, strikes, lockouts or other industrial disturbances,
acts of the public enemy, wars, blockades, insurrections, riots, storms, floods, washouts, arrests,
the order of any Governmental Authority having jurisdiction while the same is in force and effect,
civil disturbances, explosions, breakage, accident to machinery, storage tanks or lines of pipe,
inability to obtain or unavoidable delay in obtaining material or equipment, and any other causes
whether of the kind herein enumerated or otherwise not reasonably within the control of the Party
claiming suspension and which by the exercise of due diligence such Party is unable to prevent or
overcome. Notwithstanding anything in this Agreement to the contrary, inability of a Party to make
payments when due, be profitable or to secure funds, arrange bank loans or other financing, obtain
credit or have adequate capacity or production (other than for reasons of Force Majeure) shall not
be regarded as events of Force Majeure.

     “Force Majeure Notice” has the meaning set forth in Section 4(c).

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     “Frontier Cheyenne” has the meaning set forth in the preamble to this Agreement.

     “Frontier Cheyenne Payment Obligations” has the meaning set forth in Section
14(a).

     “Governmental Authority” means any federal, state, local or foreign government or any
provincial, departmental or other political subdivision thereof, or any entity, body or authority
exercising executive, legislative, judicial, regulatory, administrative or other governmental
functions or any court, department, commission, board, bureau, agency, instrumentality or
administrative body of any of the foregoing.

     “HEP Entities” means Holly Logistic Services, L.L.C., HEP Logistics Holdings, L.P. and
the Partnership and its direct and indirect subsidiaries.

     “HollyFrontier” has the meaning set forth in the recitals.

     “HollyFrontier Entities” means HollyFrontier and its direct and indirect subsidiaries
other than the HEP Entities.

     “Heavy Products” means fuel oil, asphalt, coker feed, vacuum tower bottoms,
atmospheric tower bottoms, pitch, or roofing flux.

     “Intermediate Products” means non-finished intermediate products, including, but not
limited to, high sulfur diesel fuel for DHT feed, jet fuel, naphtha for reformer feed, gas oil or
LEF for FCC feed, reformate, light straight run, hydrogen, fuel gas, and sour fuel gas.

     “Loading Rack” means the refined products truck loading rack and the two (2) propane
loading spots located at the Refinery and more specifically described in Exhibit A attached
hereto.

     “Loading Rack Tariff” means the amount set forth on Schedule III attached
hereto.

     “LPG Products” means propane, refinery grade propylene, normal butane, and isobutane.

     “Minimum Crude Oil Receiving Facility Revenue Commitment” has the meaning set forth in
Section 2(a)(i).

     “Minimum Crude Receiving Throughput” means 46,000 bpd of Crude Oil received by
pipeline, truck and rail in the aggregate, on average for each Contract Quarter.

     “Minimum Loading Rack Revenue Commitment” has the meaning set forth in Section
2(c)(i).

     “Minimum Loading Rack Throughput” means 41,000 bpd of Products, in the aggregate, on
average for each Contract Quarter.

     “Minimum Tankage Revenue Commitment” has the meaning set forth in Section
2(b)(i).

     “Minimum Tankage Throughput” means 41,000 bpd of Products, in the aggregate, on
average for each Contract Quarter.

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     “Omnibus Agreement” means the Sixth Amended and Restated Omnibus Agreement, dated as
of November 9, 2011 to be effective as of November 1, 2011, by and among HollyFrontier, the
Partnership and certain of their respective subsidiaries, as the same may be amended hereafter,
from time-to-time.

     “Operating Partnership” means Holly Energy Partners-Operating, L.P., a Delaware
limited partnership.

     “OPEX Recovery Amount” means an amount equal to (a) the difference between the
percentage increase in PPI for a given year minus seven percent (7%) multiplied by (b) the
then-current Assumed OPEX.

     “Person” means an individual or a corporation, limited liability company, partnership,
joint venture, trust, unincorporated organization, association, government agency or political
subdivision thereof or other entity.

     “Parties” or “Party” has the meaning set forth in the preamble to this
Agreement.

     “Partnership” means Holly Energy Partners, L.P., a Delaware limited partnership.

     “PPI” has the meaning set forth in Section 2(a)(ii).

     “Prime Rate” means the prime rate per annum announced by Union Bank, N.A., or if Union
Bank, N.A. no longer announces a prime rate for any reason, the prime rate per annum announced by
the largest U.S. bank measured by deposits from time to time as its base rate on corporate loans,
automatically fluctuating upward or downward with each announcement of such prime rate.

     “Products” means Refined Products, LPG Products, Intermediate Products and Heavy
Products.

     “Prudent Industry Practice” means such practices, methods, acts, techniques, and
standards as are in effect at the time in question that are consistent with (a) the standards
generally followed by the United States pipeline and terminalling industries or (b) such higher
standards as may be applied or followed by Frontier Cheyenne and its Affiliates in the performance
of similar tasks or projects, or by Cheyenne Logistics and its Affiliates in the performance of
similar tasks or projects.

     “Purchase Agreement” has the meaning set forth in the recitals to this Agreement.

     “RCRA Order” means the administrative order to which the Refinery is subject issued by
the Wyoming Department of Environmental Quality under the Wyoming Environmental Quality Act.

     “Refined Products” means gasoline, kerosene, ethanol and diesel fuel.

     “Refinery” has the meaning set forth in the recitals.

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     “Refund” has the meaning set forth in Section 9(c).

     “Respondent” has the meaning set forth in Section 13(e).

     “Tankage” means the tanks set forth on Exhibit C attached hereto;
provided, however, that such term shall include tank 108 following conveyance of
such tank as provided in Section 9.2 of the Purchase Agreement.

     “Tankage Base Tariff” means the amount set forth on Schedule II attached
hereto.

     “Tankage Incentive Tariff” means the amount set forth on Schedule II attached
hereto.

     “Tankage Incentive Tariff Threshold” means 45,100 bpd of Products, in the aggregate,
on average for each Contract Quarter.

     “Term” has the meaning set forth in Section 6.

     Section 2. Agreement to Use Services Relating to Crude Oil Receiving Assets,
Tankage and Loading Rack.

     The Parties intend to be strictly bound by the terms set forth in this Agreement, which sets
forth revenues to Cheyenne Logistics to be paid by Frontier Cheyenne and requires Cheyenne
Logistics to provide certain transportation, storage, loading and crude oil receiving services to
Frontier Cheyenne. The principal objective of Cheyenne Logistics is for Frontier Cheyenne to meet
or exceed its obligations with respect to the Minimum Crude Oil Receiving Facility Revenue
Commitment, to meet or exceed its obligations with respect to the Minimum Tankage Revenue
Commitment, and to meet or exceed its obligations with respect to the Minimum Loading Rack Revenue
Commitment. The principal objective of Frontier Cheyenne is for Cheyenne Logistics to provide
services to Frontier Cheyenne in a manner that enables Frontier Cheyenne to operate the Refinery.

     (a) Minimum Crude Oil Receiving Facility Revenue Commitment. During the Term and
subject to the terms and conditions of this Agreement, Frontier Cheyenne agrees as follows:

     (i) Subject to Section 4, Frontier Cheyenne shall pay Cheyenne Logistics
throughput fees associated with the Crude Oil Receiving Assets that will satisfy the Minimum
Crude Oil Receiving Facility Revenue Commitment in exchange for Cheyenne Logistics providing
Frontier Cheyenne a minimum of 46,000 barrels per day of aggregate capacity with respect to
Crude Oil received by the Refinery using the Crude Oil Receiving Assets as measured as set
forth in Section 2(a)(ii) below. The “Minimum Crude Oil Receiving Facility
Revenue Commitment” shall be an amount of revenue to Cheyenne Logistics for each
Contract Quarter determined by multiplying the Minimum Crude Receiving Throughput by the
Crude Oil Receiving Base Tariff as such Crude Oil Receiving Base Tariff may be revised
pursuant to Section 2(a)(iii) or Section 2(m). Notwithstanding the
foregoing, in the event that the Closing Date is any date other than the first day of a
Contract Quarter, then the Minimum Crude Oil Receiving Facility Revenue Commitment for the
initial Contract Quarter shall be prorated based upon the number of days actually in such
contract quarter and the initial Contract Quarter.

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     (ii) Crude Oil throughput shall be determined by the total shipments of Crude Oil by
pipeline, truck and rail received by the Refinery. Frontier Cheyenne will pay the Crude Oil
Receiving Base Tariff for each throughput barrel up to and including the Crude Oil Receiving
Incentive Tariff Threshold. If the average throughput for any Contract Quarter exceeds the
Crude Oil Receiving Incentive Tariff Threshold attributable to such Contract Quarter then,
for each throughput barrel in excess of the Crude Oil Receiving Incentive Tariff Threshold,
Frontier Cheyenne shall pay Cheyenne Logistics throughput fees in the amount of the Crude
Oil Receiving Incentive Tariff as such amount may be revised pursuant to Section
2(a)(iii) or Section 2(m).

     (iii) The Crude Oil Receiving Base Tariff and Crude Oil Receiving Incentive Tariff
shall be adjusted on July 1 of each calendar year commencing on July 1, 2012, by an amount
equal to the upper change in the annual change rounded to four decimal places of the
Producers Price Index-Commodities-Finished Goods, (PPI), et al. (“PPI”), produced by
the U.S. Department of Labor, Bureaus of Labor Statistics; provided that neither the Crude
Oil Receiving Base Tariff nor the Crude Oil Receiving Incentive Tariff shall ever be
increased by more than 3% for any such calendar year. The series ID is WPUSOP3000 as of
June 1, 2011 — located at http://www.bls.gov/data/. The change factor shall be calculated
as follows: annual PPI index (most current year) less annual PPI index (most current
year minus 1) divided by annual PPI index (most current year minus 1). An example
for year 2009 change is: [PPI (2008) — PPI (2007)] / PPI (2007) or (177.1 — 166.6) / 166.6
or .063 or 6.3%. If the PPI index change is negative in a given year then there will be no
change in the Crude Oil Receiving Base Tariff or Crude Oil Receiving Incentive Tariff. If
the above index is no longer published, then Frontier Cheyenne and Cheyenne Logistics shall
negotiate in good faith to agree on a new index that gives comparable protection against
inflation, and the same method of adjustment for increases in the new index shall be used to
calculate increases in the Crude Oil Receiving Base Tariff and Crude Oil Receiving Incentive
Tariff. If Frontier Cheyenne and Cheyenne Logistics are unable to agree, a new index will
be determined by binding arbitration in accordance with Section 13(e), and the same
method of adjustment for increases in the new index shall be used to calculate increases in
the Crude Oil Receiving Base Tariff and Crude Oil Receiving Incentive Tariff. To evidence
the Parties’ agreement to each adjusted Crude Oil Receiving Base Tariff and Crude Oil
Receiving Incentive Tariff, the Parties shall execute an amended, modified, revised or
updated Schedule I and attach it to this Agreement. Such amended, modified, revised
or updated Schedule I shall be sequentially numbered (e.g. Schedule I-1,
Schedule I-2, etc.), dated and appended as an additional schedule to this Agreement
and shall replace the prior version of Schedule I in its entirety after its date of
effectiveness.

     (iv) If Frontier Cheyenne is unable to receive using the Crude Oil Receiving Assets the
volumes of Crude Oil required to meet the Minimum Crude Oil Receiving Facility Revenue
Commitment as a result of Cheyenne Logistics’ operational difficulties, prorationing, or the
inability to provide sufficient capacity for the Minimum Crude Receiving Throughput, then
the Minimum Crude Oil Receiving Facility Revenue Commitment applicable to the Contract
Quarter during which Frontier Cheyenne is unable to receive using the Crude Oil Receiving
Assets such volumes of Crude Oil will be reduced by an amount equal to: (A) the volume of
Crude Oil that Frontier Cheyenne

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was unable to receive using the Crude Oil Receiving Assets (but not to exceed the
Minimum Crude Receiving Throughput), as a result of Cheyenne Logistics’ operational
difficulties, prorationing or inability to provide sufficient capacity on the Crude Oil
Receiving Assets to achieve the Minimum Crude Receiving Throughput, multiplied by (B) the
Crude Oil Receiving Base Tariff. This Section 2(a)(iv) shall not apply in the event
Cheyenne Logistics gives notice of a Force Majeure event in accordance with Section
4, in which case the Minimum Crude Oil Receiving Facility Revenue Commitment shall be
suspended in accordance with and as provided in Section 4.

     (b) Minimum Tankage Revenue Commitment; Tankage Tariffs. During the Term and subject
to the terms and conditions of this Agreement, Frontier Cheyenne agrees as follows:

     (i) Subject to Section 4, Frontier Cheyenne shall pay Cheyenne Logistics
throughput fees associated with the Tankage that will satisfy the Minimum Tankage Revenue
Commitment in exchange for Cheyenne Logistics providing Frontier Cheyenne a minimum of
41,000 bpd barrels of aggregate capacity in the Tankage. The “Minimum Tankage Revenue
Commitment” shall be an amount of revenue to Cheyenne Logistics for each Contract
Quarter determined by multiplying the Minimum Tankage Throughput by the Tankage Base Tariff
as such Tankage Base Tariff may be revised pursuant to Section 2(b)(iii),
Section 2(m), and Section 2(n). Notwithstanding the foregoing, in the event
that the Closing Date is any date other than the first day of a Contract Quarter, then the
Minimum Tankage Revenue Commitment for the initial Contract Quarter shall be prorated based
upon the number of days actually in such Contract Quarter and the initial Contract Quarter.
Subject to (i) any Applicable Law and (ii) technical specifications of the Tankage, Frontier
Cheyenne may request that Cheyenne Logistics change the service of any of the Tankage from
storage of one Product to storage of a different Product. If Cheyenne Logistics agrees to
such request, Frontier Cheyenne shall indemnify and hold Cheyenne Logistics harmless from
and against all costs and expenses associated with any such changing of service including
but not limited to costs of complying with any Applicable Law affecting such change of
service.

     (ii) Tankage throughput shall be determined by the sum of Products shipped by the
Refinery but not including shipments of coke and sulfur. For the avoidance of doubt, no
Tankage throughput fees shall be paid for movements of Products within the Refinery.
Frontier Cheyenne shall pay the Tankage Base Tariff for each throughput barrel up to and
including the Tankage Incentive Tariff Threshold. If the average throughput for any
Contract Quarter exceeds the Tankage Incentive Tariff Threshold attributable to such
Contract Quarter then, for each throughput barrel in excess of the Tankage Incentive Tariff
Threshold, Frontier Cheyenne shall pay Cheyenne Logistics throughput fees in the amount of
the Tankage Incentive Tariff as such amount may be revised pursuant to Section
2(b)(iii) or Section 2(m).

     (iii) The Tankage Base Tariff and Tankage Incentive Tariff shall each be adjusted on
July 1 of each calendar year commencing on July 1, 2012, by an amount equal to the upper
change in the annual change rounded to four decimal places of the PPI following the same
procedure as set forth in Section 2(a)(iii) above (including the provisions
regarding binding arbitration); provided that the Tankage Base Tariff and

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Tankage Incentive Tariff shall never be increased by more than 3% for any such calendar
year. To evidence the Parties’ agreement to each adjusted Tankage Base Tariff and Tankage
Incentive Tariff, the Parties shall execute an amended, modified, revised or updated
Schedule II and attach it to this Agreement. Such amended, modified, revised or
updated Schedule II shall be sequentially numbered (e.g. Schedule II-1,
Schedule II-2, etc.), dated and appended as an additional schedule to this Agreement
and shall replace the prior version of Schedule II in its entirety after its date of
effectiveness.

     (iv) If Frontier Cheyenne is unable to deliver to the Tankage the volumes of Refined
Products required to meet the Minimum Tankage Revenue Commitment as a result of Cheyenne
Logistics’ operational difficulties, prorationing or the inability to provide sufficient
capacity, then the Minimum Tankage Revenue Commitment applicable to the Contract Quarter
during which Frontier Cheyenne is unable to deliver such volumes of Refined Products will be
reduced by an amount equal to: (A) the volume of Refined Products that Frontier Cheyenne was
unable to deliver to the Tankage (but not to exceed the Minimum Tankage Throughput), as a
result of Cheyenne Logistics’ operational difficulties, prorationing or inability to provide
sufficient capacity to achieve the Minimum Tankage Throughput, multiplied by (B) the Tankage
Base Tariff. This Section 2(b)(iv) shall not apply in the event Cheyenne Logistics
gives notice of a Force Majeure event in accordance with Section 4, in which case
the Minimum Tankage Revenue Commitment shall be suspended in accordance with and as provided
in Section 4.

     (c) Minimum Loading Rack Revenue Commitment.

     (i) Subject to Section 4, Frontier Cheyenne shall pay Cheyenne Logistics
throughput fees associated with the Loading Racks that will satisfy the Minimum Loading Rack
Revenue Commitment in exchange for Cheyenne Logistics providing Frontier Cheyenne a minimum
of 41,000 barrels per day of aggregate capacity at the Loading Racks. The “Minimum
Loading Rack Revenue Commitment” shall be an amount of revenue to Cheyenne Logistics for
each Contract Quarter determined by multiplying the Minimum Loading Rack Throughput by the
Loading Rack Tariff as such Loading Rack Tariff may be revised pursuant to Section
2(c)(ii) or Section 2(m). Frontier Cheyenne will pay Cheyenne Logistics the
Loading Rack Tariff for all quantities of Products or other materials loaded at the Loading
Rack and any Products or other materials shipped using the weight scales associated with the
Loading Racks. Notwithstanding the foregoing, in the event that the Closing Date is any
date other than the first day of a Contract Quarter, then the Minimum Loading Rack Revenue
Commitment for the initial Contract Quarter shall be prorated based upon the number of days
actually in such contract quarter and the initial Contract Quarter.

     (ii) The Loading Rack Tariff shall be adjusted on July 1 of each calendar year
commencing on July 1, 2012, by an amount equal to the upper change in the annual change
rounded to four decimal places of the PPI following the same procedure as set forth in
Section 2(a)(iii) above (including the provisions regarding binding arbitration);
provided that the Loading Rack Tariff shall never be increased by more than 3% for any such
calendar year. To evidence the Parties’ agreement to each adjusted Loading Rack

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Tariff, the Parties shall execute an amended, modified, revised or updated Schedule
III and attach it to this Agreement. Such amended, modified, revised or updated
Schedule III shall be sequentially numbered (e.g. Schedule III-1,
Schedule III-2, etc.), dated and appended as an additional schedule to this
Agreement and shall replace the prior version of Schedule III in its entirety after
its date of effectiveness.

     (iii) If Frontier Cheyenne is unable to load at the Loading Rack the volumes of
Products, in the aggregate, required to meet the Minimum Loading Rack Revenue Commitment as
a result of Cheyenne Logistics’ operational difficulties, prorationing or the inability to
provide sufficient capacity, then the Minimum Loading Rack Revenue Commitment applicable to
the Contract Quarter during which Frontier Cheyenne is unable to load such volumes of
Products will be reduced for such period of time by an amount equal to: (A) the volume of
Products, in the aggregate, that Frontier Cheyenne was unable to load at the Loading Rack
(but not to exceed the Minimum Loading Rack Throughput), as a result of Cheyenne Logistics’
operational difficulties, prorationing or inability to provide sufficient capacity to
achieve the Minimum Loading Rack Throughput, multiplied by (B) the Loading Rack Tariff.
This Section 2(c)(iii) shall not apply in the event Cheyenne Logistics gives notice
of a Force Majeure event in accordance with Section 4, in which case the Minimum
Loading Rack Revenue Commitment shall be suspended in accordance with and as provided in
Section 4.

     (d) Volumetric Gains and Losses. Frontier Cheyenne shall, during the Term, (i) absorb
all volumetric gains in the Crude Oil Receiving Assets, and (ii) be responsible for all volumetric
losses in the Crude Oil Receiving Assets up to a maximum of 0.5%. Cheyenne Logistics shall be
responsible for all volumetric losses in excess of 0.5% in the Crude Oil Receiving Assets during
the Term.

     (e) Obligations of Cheyenne Logistics. During the Term and subject to the terms and
conditions of this Agreement, including Section 13(b), Cheyenne Logistics agrees to: (A)
own or lease, operate and maintain the Tankage, Loading Racks and Crude Oil Receiving Assets and
all related assets necessary to handle the Crude Oil and Products from Frontier Cheyenne; (B)
provide the services required under this Agreement and perform all operations relating the Tankage,
Loading Racks and Crude Oil Receiving Assets including, but not limited to, tank gauging, tank
maintenance, tank dike maintenance, loading trucks, interaction with third party pipelines, and
customer interface for access agreements; and (C) maintain adequate property and liability
insurance covering the Tankage, Loading Racks and Crude Oil Receiving Assets and any related assets
owned by Cheyenne Logistics and necessary for the operation of the Tankage, Loading Racks and Crude
Oil Receiving Assets. Notwithstanding the foregoing, subject to Section 13(b) of this
Agreement and applicable provisions of the Omnibus Agreement, Cheyenne Logistics is free to sell
any of its assets, including assets that provide services under this Agreement, and Frontier
Cheyenne is free to merge with another entity and to sell all of its assets or equity to another
entity at any time.

     (f) Drag Reducing Agents and Additives. If Cheyenne Logistics determines that adding
drag reducing agents (“DRA”) to the Products is reasonably required to move Refined
Products in the quantities necessary to meet Frontier Cheyenne’s schedule or as may be
otherwise be required to safely move such quantities of Products or that additives should be used

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in the operation of the Crude Oil Receiving Assets, Cheyenne Logistics shall provide Frontier
Cheyenne with an analysis of the proposed cost and benefits thereof. In the event that Frontier
Cheyenne agrees to use such additives as proposed by Cheyenne Logistics, Frontier Cheyenne shall
reimburse Cheyenne Logistics for the costs of adding any additives.

     (g) Chemical Treatments. If Cheyenne Logistics reasonably determines that additives
or chemicals must be added to any of the Crude Oil Receiving Assets to prevent or control internal
corrosion, then Frontier Cheyenne shall reimburse Cheyenne Logistics for the direct cost of the
chemical and associated injection equipment.

     (h) Change in Pipeline Direction; Product Service or Origination and Destination.
Without Frontier Cheyenne’s prior written consent (which consent shall not be unreasonably
withheld, conditioned or delayed), Cheyenne Logistics shall not (i) reverse the direction of any of
the pipelines that constitute part of the Crude Oil Receiving Assets; (ii) change, alter or modify
the product service of any of the pipelines that constitute part of the Crude Oil Receiving Assets;
or (iii) change, alter or modify the origination or destination of any of the pipelines that
constitute part of the Crude Oil Receiving Assets; provided, however, that Cheyenne
Logistics may take any necessary emergency action to prevent or remedy a release of Products
from any of the pipelines that constitute part of the Crude Oil Receiving Assets without
obtaining the consent required by this Section 2(l). Frontier Cheyenne may request that
Cheyenne Logistics reverse the direction of any of the pipelines that constitute part of the Crude
Oil Receiving Assets and upon granting such request, Frontier Cheyenne agrees to (i) reimburse
Cheyenne Logistics for the additional costs and expenses incurred by Cheyenne Logistics as a result
of such change in direction (both to reverse and re-reverse); (ii) reimburse Cheyenne Logistics for
all costs arising out of Cheyenne Logistics’ inability to perform under any transportation service
contract due to the reversal of the direction of the pipelines that constitute part of the Crude
Oil Receiving Assets; and (iii) pay the Crude Oil Receiving Base Tariff set forth on Schedule
I, as it may be amended from time-to-time in accordance with this Agreement, for any such flow
reversal.

     (i) Notification of Utilization. Upon request by Cheyenne Logistics, Frontier
Cheyenne will provide to Cheyenne Logistics written notification of Frontier Cheyenne’s reasonable
good faith estimate of their anticipated future utilization of Tankage, Loading Racks and Crude Oil
Receiving Assets as soon as reasonably practicable after receiving such request.

     (j) Scheduling and Accepting Movement. Cheyenne Logistics will use its reasonable
commercial efforts to schedule movement and accept movements of Crude Oil and Products in a manner
that is consistent with the historical dealings between the Parties, as such dealings may change
from time to time.

     (k) Taxes. Frontier Cheyenne will pay all taxes, import duties, license fees and
other charges by any Governmental Authority levied on or with respect to the Crude Oil and Products
handled by Frontier Cheyenne for transportation, storage or loading by Cheyenne Logistics. Should
any Party be required to pay or collect any taxes, duties, charges and or assessments pursuant to
any Applicable Law or authority now in effect or hereafter to become effective which are payable by
the any other Party pursuant to this Section 2(k) the proper Party shall promptly reimburse
the other Party therefor.

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     (l) Timing of Payments. Frontier Cheyenne will make payments to Cheyenne Logistics by
electronic payment with immediately available funds on a monthly basis during the Term with respect
to services rendered or reimbursable costs or expenses incurred by Cheyenne Logistics under this
Agreement in the prior month. Payments not received by Cheyenne Logistics on or prior to the
applicable payment date will accrue interest at the Prime Rate from the applicable payment date
until paid.

     (m) Increases in Tariff Rates as a Result of Changes in Applicable Law.

     (i) If new Applicable Laws are enacted that require Cheyenne Logistics to make capital
expenditures with respect to the Tankage, Loading Racks or Crude Oil Receiving Assets,
Cheyenne Logistics may amend the Crude Oil Receiving Base Tariff, Tankage Base Tariff, and
Loading Rack Tariff, as applicable, in order to recover Cheyenne Logistics’ cost of
complying with these Applicable Laws (as determined in good faith and including a reasonable
return); provided, however, that Cheyenne Logistics may not amend the Crude
Oil Receiving Base Tariff, Tankage Base Tariff, or Loading Rack Tariff pursuant to this
Section 2(m) unless and until Cheyenne Logistics has made capital expenditures of
$1,000,000.00 in the aggregate with respect to the Tankage, Loading Rack and Crude Oil
Receiving Assets in order to comply with such new Applicable Laws. For the avoidance of
doubt, once such capital expenditures made by Cheyenne Logistics exceed $1,000,000.00,
Cheyenne Logistics may amend the Crude Oil Receiving Base Tariff, Tankage Base Tariff, or
Loading Rack Tariff to recover its full cost of complying with such Applicable Laws and such
recovery shall not be limited to amounts in excess of $1,000,000.

     (ii) Frontier Cheyenne, on one hand and Cheyenne Logistics, on the other hand, shall
use their reasonable commercial efforts to comply with new Applicable Laws, and shall
negotiate in good faith to mitigate the impact of new Applicable Laws and to determine the
amount of the new tariff rates. If Frontier Cheyenne and Cheyenne Logistics are unable to
agree on the amount of the new tariff rates that Cheyenne Logistics will charge, such tariff
rates will be determined by binding arbitration in accordance with Section 13(e).
Any applicable exhibit or schedule to this Agreement will be updated, amended or revised, as
applicable, in accordance with this Agreement to reflect any changes in tariff rates agreed
to in accordance with this Section 2(m).

     (n) Reimbursement of Operating Expenses.

     (i) At the end of the first four complete (4) Contract Quarters following the Closing
Date, Cheyenne Logistics shall calculate the aggregate operating expenses incurred in the
operation of the Cheyenne Assets during that twelve-month period (but such calculation shall
not include extraordinary and non-recurring items of expense that are not reasonably
expected to recur in future periods during the Term). In the event that such aggregate
operating expenses exceed the Assumed OPEX, (A) Frontier Cheyenne shall reimburse Cheyenne
Logistics for such operating expenses incurred in excess of the Assumed OPEX, and (B)
Cheyenne Logistics shall increase the Tankage Base Tariff by the amount necessary to
increase the Minimum Tankage Revenue Commitment by an amount equal to the unreimbursed
portion of such aggregate operating expenses in excess

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of the Assumed OPEX for the remainder of the Term, and the Parties shall execute an
amended, modified, revised or updated Schedule II reflecting such aggregate
operating expenses as the new Assumed OPEX. In the event that such aggregate operating
expenses are less than the Assumed OPEX, Cheyenne Logistics shall decrease the Tankage Base
Tariff by the amount necessary to decrease the Minimum Tankage Revenue Commitment by an
amount equal to the difference between the Assumed OPEX and such actual operating expenses
for the remainder of the Term, and the Parties shall execute an amended, modified, revised
or updated Schedule II reflecting such aggregate operating expenses as the new
Assumed OPEX. In the event that the PPI increase for any given year is greater than seven
percent (7%), then, in addition to any other applicable increases during such year, Cheyenne
Logistics shall increase the Tankage Base Tariff by an additional amount necessary to
increase the Minimum Tankage Revenue Commitment by the OPEX Recovery Amount. Such OPEX
Recovery Amount shall be added to the then-current Assumed OPEX, and the Parties shall
execute an amended, modified, revised or updated Schedule IV reflecting the addition
of such OPEX Recovery Amount to the Assumed OPEX.

     (o) Tank Inspection and Repairs. Frontier Cheyenne will reimburse Cheyenne Logistics
for the cost of performing the first API 653 inspection on each of the respective tanks included in
the Tankage and any repairs or tests or consequential remediation that may be required to be made
to such assets as a result of any discovery made during such inspection; provided, however,
that if a tank is two (2) years old or less or has been inspected and repaired during the last
twelve months prior to the Closing Date, then Cheyenne Logistics will bear the cost of any API 653
inspection and any required repair, testing or consequential remediation of such tank. In
addition, Cheyenne Logistics will be responsible for the costs of painting any tanks included in
the Tankage that require it.

     (p) Removal of Tank from Service. The Parties agree that if they mutually determine
to remove a tank included in the Tankage from service, then Cheyenne Logistics will not be required
to utilize, operate or maintain such tank or provide the services required under this Agreement
with respect to such tank (and there will be no adjustment to the Minimum Tankage Revenue
Commitment).

     (q) Notice of Violation under Environmental Permits; RCRA Order. The Parties agree
that, because Cheyenne Logistics or its Affiliates is operating certain assets at the Refinery
pursuant to permits, licenses, registrations or other operating authorizations (collectively,
“Environmental Permits”) issued to HollyFrontier or one of its Affiliates under
Environmental Laws, in the event that HollyFrontier or one of such Affiliates receives a notice of
violation or enforcement action from the U.S. Environmental Protection Agency or a state agency
alleging non-compliance with such Environmental Permits, and such non-compliance relates to the
Cheyenne Assets, then Cheyenne Logistics (and not HollyFrontier or its Affiliates), will be
responsible for responding to any such notice of violation or enforcement action. The applicable
HollyFrontier Entity shall have the right, but not the duty, to be fully informed and to
participate in the prosecution and/or settlement of any notice of violation or enforcement action
relating to the Cheyenne Assets. Additionally, the Parties Agree that Frontier Cheyenne will
retain responsibility for complying with the terms of the RCRA Order, including all obligations
that apply or relate to the Cheyenne Assets. The Parties acknowledge that any costs, penalties,
fines

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or losses associated with responses to any notices of violation or enforcement action under
any Environmental Permits or the RCRA Order may be the subject of indemnification under the Omnibus
Agreement (and nothing in this Section 2(q) shall be deemed to change, amend or expand the
Parties’ obligations under such Omnibus Agreement provisions other than with regard to the
obligation to respond to such notice of violation or enforcement). Cheyenne Logistics will and
will cause its Affiliates to cooperate with and support Frontier Cheyenne and its Affiliates in
satisfying any applicable compliance and reporting obligations under the RCRA Order or
Environmental Permits as they relate to the Cheyenne Assets and does hereby authorize Frontier
Cheyenne to submit all reports, certifications and other compliance related submissions in
satisfaction of such compliance and reporting obligations. Cheyenne Logistics confirms that it has
received a copy of the RCRA Order. The Parties agree that, if, as a result of future circumstances
or construction, it becomes necessary for the Parties to obtain additional Environmental Permits
that relate to assets that will be located at the Refinery but owned by an HEP Entity, and the
Parties agree that such Environmental Permit shall be held by or in the name of a HollyFrontier
Entity, then such Environmental Permit shall be subject to the provisions of this Section
2(q) to the same extent as if the assets to which such Environmental Permits relate are
Cheyenne Assets.

     (r) Tank Inspection and Maintenance Plan. At least annually, Cheyenne Logistics shall
prepare and submit to Frontier Cheyenne a tank inspection and maintenance plan (which shall include
an inspection plan, a cleaning plan, a waste disposal plan, details regarding scheduling and a
budget) for the Tankage. If Frontier Cheyenne consents to the submitted plan (which consent shall
not be unreasonably withheld or delayed), then Cheyenne Logistics shall conduct tank maintenance in
conformity with such approved tank maintenance plan (other than any deviations or changes from such
plan to which Frontier Cheyenne consents which consent shall not be unreasonably withheld,
conditioned or delayed). Cheyenne Logistics will use its commercially reasonable efforts to
schedule the activities under such maintenance plan to minimize disruptions to the operations of
Frontier Cheyenne at the Refinery.

     Section 3. Agreement to Remain Shipper

     With respect to any Crude Oil or Products that are transported, stored or handled in
connection with any of the Cheyenne Assets, Frontier Cheyenne agrees that Frontier Cheyenne or
another HollyFrontier Entity will continue acting in the capacity of the shipper of any such Crude
Oil or Products for its own account at all times that such Crude Oil or Products are being
transported, stored or handled in such Cheyenne Assets.

     Section 4. Notification of Shut-down or Reconfiguration; Force Majeure

     (a) Frontier Cheyenne must deliver to Cheyenne Logistics at least six months advance written
notice of any planned shut down or reconfiguration (excluding planned maintenance turnarounds) of
the Refinery or any portion of the Refinery that would reduce the Refinery’s output. Frontier
Cheyenne will use its commercially reasonable efforts to mitigate any reduction in revenues or
throughput obligations under this Agreement that would result from such a shut down or
reconfiguration.

     (b) If Frontier Cheyenne shuts down or reconfigures the Refinery or any portion of the
Refinery (excluding planned maintenance turnarounds) and reasonably believes in good faith

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that such shut down or reconfiguration will jeopardize its ability to satisfy its Minimum
Crude Oil Receiving Facility Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum
Loading Rack Revenue Commitment under this Agreement, then within 90 days of the delivery of the
written notice of the planned shut down or reconfiguration, Frontier Cheyenne shall (A) propose a
new Minimum Crude Oil Receiving Facility Revenue Commitment, Minimum Tankage Revenue Commitment, or
Minimum Loading Rack Revenue Commitment under this Agreement, as applicable, such that the ratio of
the new Minimum Crude Oil Receiving Facility Revenue Commitment, Minimum Tankage Revenue
Commitment, or Minimum Loading Rack Revenue Commitment, as the case may be, under this Agreement
over the anticipated production level following the shut down or reconfiguration will be
approximately equal to the ratio of the original Minimum Crude Oil Receiving Facility Revenue
Commitment, Minimum Tankage Revenue Commitment, or Minimum Loading Rack Revenue Commitment under
this Agreement over the original production level and (B) propose the date on which the new Minimum
Crude Oil Receiving Facility Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum
Loading Rack Revenue Commitment under this Agreement shall take effect. Unless objected to by
Cheyenne Logistics within 60 days of receipt by Cheyenne Logistics of such proposal, such new
Minimum Crude Oil Receiving Facility Revenue Commitment, Minimum Tankage Revenue Commitment, or
Minimum Loading Rack Revenue Commitment under this Agreement shall become effective as of the date
proposed by Frontier Cheyenne. To the extent that Cheyenne Logistics does not agree with Frontier
Cheyenne’s proposal, any changes in Frontier Cheyenne’s obligations under this Agreement, or the
date on which such changes will take effect, will be determined by binding arbitration in
accordance with Section 13(e). Any applicable exhibit or schedule to this Agreement will
be updated, amended or revised, as applicable, in accordance with this Agreement to reflect any
change in the Minimum Crude Oil Receiving Facility Revenue Commitment, Minimum Tankage Revenue
Commitment, or Minimum Loading Rack Revenue Commitment under this Agreement agreed to in accordance
with this Section 4(b).

     (c) In the event that any Party is rendered unable, wholly or in part, by a Force Majeure
event from performing its obligations under this Agreement for a period of more than thirty (30)
consecutive days, then, upon the delivery of notice and full particulars of the Force Majeure event
in writing within a reasonable time after the occurrence of the Force Majeure event relied on
(“Force Majeure Notice”), the obligations of the Parties, so far as they are affected by
the Force Majeure event, shall be suspended for the duration of any inability so caused. Any
suspension of the obligations of the Parties as a result of this Section 4(c) shall extend
the Term (to the extent so affected) for a period equivalent to the duration of the inability set
forth in the Force Majeure Notice. Frontier Cheyenne will be required to pay any amounts accrued
and due under this Agreement at the time of the Force Majeure event. The cause of the Force
Majeure event shall so far as possible be remedied with all reasonable dispatch, except that no
Party shall be compelled to resolve any strikes, lockouts or other industrial disputes other than
as it shall determine to be in its best interests. In the event a Force Majeure event prevents
Cheyenne Logistics or Frontier Cheyenne from performing substantially all of their respective
obligations under this Agreement for a period of more than one (1) year, this Agreement may be
terminated by Cheyenne Logistics or Frontier Cheyenne, by providing written notice thereof to the
other Parties.

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     Section 5. Agreement Not to Challenge Tariffs

     Frontier Cheyenne agrees to any tariff rate changes for the pipelines that constitute part of
the Crude Oil Receiving Assets in accordance with this Agreement. Frontier Cheyenne agrees (a) not
to challenge, nor to cause their Affiliates to challenge, nor to encourage or recommend to any
other Person that it challenge, or voluntarily assist in any way any other Person in challenging,
in any forum, tariffs (including joint tariffs) of Cheyenne Logistics that Cheyenne Logistics has
filed or may file containing rates, rules or regulations that are in effect at any time during the
Term and regulate the transportation of the Products, and (b) not to protest or file a complaint,
nor cause their Affiliates to protest or file a complaint, nor encourage or recommend to any other
Person that it protest or file a complaint, or voluntarily assist in any way any other Person in
protesting or filing a complaint, with respect to regulatory filings that the Cheyenne Logistics
has made or may make at any time during the Term to change tariffs (including joint tariffs) for
transportation of Products in each case so long as such tariffs, regulatory filings or rates
changed do not conflict with the terms of this Agreement.

     Section 6. Effectiveness and Term

     This Agreement shall be effective as of the Effective Time, and shall terminate at 12:01 a.m.
Dallas, Texas, time on October 31, 2026, unless extended by written mutual agreement of the Parties
or as set forth in Section 7 (the “Term). The Party(ies) desiring to extend this
Agreement pursuant to this Section 6 shall provide prior written notice to the other
Parties of its desire to so extend this Agreement; such written notice shall be provided not more
than twenty-four (24) months and not less than the later of twelve (12) months prior to the date of
termination or ten (10) days after receipt of a written request from another Party (which request
may be delivered no earlier than twelve (12) months prior to the date of termination) to provide
any such notice or lose such right.

     Section 7. Right to Enter into a New Agreement

     (a) In the event that Frontier Cheyenne provides prior written notice to Cheyenne Logistics of
the desire of Frontier Cheyenne to extend this Agreement by written mutual agreement of the
Parties, the Parties shall negotiate in good faith to extend this Agreement by written mutual
agreement, but, if such negotiations fail to produce a written mutual agreement for extension by a
date six months prior to the termination date, then Cheyenne Logistics shall have the right to
negotiate to enter into one or more crude oil receiving, tankage and loading agreements with one or
more third parties to begin after the date of termination; provided, however, that until
the end of one year following termination without renewal of this Agreement, Frontier Cheyenne will
have the right to enter into a new crude oil receiving, tankage and loading agreement with Cheyenne
Logistics on commercial terms that substantially match the terms upon which Cheyenne Logistics
proposes to enter into an agreement with a third party for similar services with respect to all or
a material portion of the Cheyenne Assets. In such circumstances, Cheyenne Logistics shall give
Frontier Cheyenne forty-five (45) days prior written notice of any proposed new crude oil
receiving, tankage and loading agreement with a third party, and such notice shall inform Frontier
Cheyenne of the fee schedules, tariffs, duration and any other terms of the proposed third party
agreement and Frontier Cheyenne shall have forty-five (45) days following receipt of such notice to
agree to the terms specified in the notice

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or Frontier Cheyenne shall lose the rights specified by this Section 7(a) with respect
to the assets that are the subject of such notice.

     (b) In the event that Frontier Cheyenne fails to provide prior written notice to Cheyenne
Logistics of the desire of Frontier Cheyenne to extend this Agreement by written mutual agreement
of the Parties pursuant to Section 6, Cheyenne Logistics shall have the right, during the
period from the date of Frontier Cheyenne’s failure to provide written notice pursuant to
Section 6 to the date of termination of this Agreement, to negotiate to enter into a new
crude oil receiving, tankage and loading agreement with a third party; provided, however,
that at any time during the twelve (12) months prior to the expiration of the Term, Frontier
Cheyenne will have the right to enter into a new crude oil receiving, tankage and loading agreement
with Cheyenne Logistics on commercial terms that substantially match the terms upon which Cheyenne
Logistics proposes to enter into an agreement with a third party for similar services with respect
to all or a material portion of the Cheyenne Assets. In such circumstances, Cheyenne Logistics
shall give Frontier Cheyenne forty-five (45) days prior written notice of any proposed new crude
oil receiving, tankage and loading agreement with a third party, and such notice shall inform
Frontier Cheyenne of the fee schedules, tariffs, duration and any other terms of the proposed third
party agreement and Frontier Cheyenne shall have forty-five (45) days following receipt of such
notice to agree to the terms specified in the notice or Frontier Cheyenne shall lose the rights
specified by this Section 7(b) with respect to the assets that are the subject of such
notice.

     Section 8. Notices

     (a) Any notice or other communication given under this Agreement shall be in writing and shall
be (i) delivered personally, (ii) sent by documented overnight delivery service, (iii) sent by
email transmission, or (iv) sent by first class mail, postage prepaid (certified or registered
mail, return receipt requested). Such notice shall be deemed to have been duly given (x) if
received, on the date of the delivery, with a receipt for delivery, (y) if refused, on the date of
the refused delivery, with a receipt for refusal, or (z) with respect to email transmissions, on
the date the recipient confirms receipt. Notices or other communications shall be directed to the
following addresses:

          Notices to Frontier Cheyenne:

c/o HollyFrontier Corporation

2828 N. Harwood, Suite 1300

Dallas, Texas 75201

Attn: David L. Lamp

Email address: president@hollyfrontier.com

with a copy, which shall not constitute notice, but is required in order to
giver proper notice, to:

c/o HollyFrontier Corporation

2828 N. Harwood, Suite 1300

Dallas, Texas 75201

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Attn: General Counsel

Email address: generalcounsel@hollyfrontier.com

          Notices to Cheyenne Logistics:

c/o Holly Energy Partners, L.P.

2828 N. Harwood, Suite 1300

Dallas, TX 75201

Attn: Matthew P. Clifton

Email address: president@hollyenergy.com

with a copy, which shall not constitute notice, but is required in order to
give proper notice, to:

c/o Holly Energy Partners, L.P.

2828 N. Harwood, Suite 1300

Dallas, Texas 75201

Attn: General Counsel

Email address: generalcounsel@hollyenergy.com

     (b) Any Party may at any time change its address for service from time to time by giving
notice to the other Parties in accordance with this Section 8.

     Section 9. Deficiency Payments

     (a) As soon as practicable following the end of each Contract Quarter under this Agreement,
Cheyenne Logistics shall deliver to Frontier Cheyenne a written notice (the “Deficiency
Notice”) detailing any failure of Frontier Cheyenne to meet its minimum revenue commitment
obligations under Section 2(a)(i), Section 2(b)(i), or Section 2(c)(i);
provided, however, that Frontier Cheyenne’s obligations pursuant to the Minimum
Crude Oil Receiving Facility Revenue Commitment, Minimum Tankage Revenue Commitment, and the
Minimum Loading Rack Revenue Commitment shall, in each case, be assessed on a quarterly basis for
the purposes of this Section 9. Notwithstanding the previous sentence, any deficiency owed
by Frontier Cheyenne due to its failure to satisfy the Minimum Crude Oil Receiving Facility Revenue
Commitment, Minimum Tankage Revenue Commitment, or Minimum Loading Rack Revenue Commitment in any
Contract Quarter shall be offset by any revenue owed to Cheyenne Logistics in excess of the Minimum
Crude Oil Receiving Facility Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum
Loading Rack Revenue Commitment for such Contract Quarter. The Deficiency Notice shall (A) specify
in reasonable detail the nature of any deficiency and (B) specify the approximate dollar amount
that Cheyenne Logistics believes would have been paid by Frontier Cheyenne to Cheyenne Logistics if
Frontier Cheyenne had complied with its minimum revenue commitment obligations pursuant to
Section 2(a)(i), Section 2(b)(i), or Section 2(c)(i), as applicable (the
“Deficiency Payment”). Frontier Cheyenne shall pay the Deficiency Payment to Cheyenne
Logistics upon the later of: (1) ten (10) days after their receipt of the Deficiency Notice and (2)
thirty (30) days following the end of the related Contract Quarter.

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     (b) If Frontier Cheyenne disagrees with any Deficiency Notice (the “Disputed Deficiency
Notice”), then, following the payment of the undisputed portion of the deficiency payment
related to the Disputed Deficiency Notice (the “Disputed Deficiency Payment”) to Cheyenne
Logistics, if any, Frontier Cheyenne shall send written notice thereof regarding the disputed
portion of the Disputed Deficiency Notice to Cheyenne Logistics, and a senior officer of
HollyFrontier (on behalf of Frontier Cheyenne) and a senior officer of the Partnership (on behalf
of Cheyenne Logistics) shall meet or communicate by telephone at a mutually acceptable time and
place, and thereafter as often as they reasonably deem necessary and shall negotiate in good faith
to attempt to resolve any differences that they may have with respect to matters specified in the
Disputed Deficiency Notice. During the 30-day period following the receipt of the Disputed
Deficiency Notice, Frontier Cheyenne shall have access to the working papers of Cheyenne Logistics
relating to the Disputed Deficiency Notice. If such differences are not resolved within thirty
(30) days following Frontier Cheyenne’s receipt of the Disputed Deficiency Notice, Frontier
Cheyenne, on the one hand, and Cheyenne Logistics, on the other hand, shall, within forty-five
(45) days following Frontier Cheyenne’s receipt of the Disputed Deficiency Notice, submit any and
all matters which remain in dispute and which were properly included in the Disputed Deficiency
Notice to arbitration in accordance with Section 13(e).

     (c) If it is finally determined pursuant to this Section 9 that Frontier Cheyenne is
required to pay any or all of the disputed portion of the Disputed Deficiency Payment, Frontier
Cheyenne shall promptly pay such amount to Cheyenne Logistics, as applicable, together with
interest thereon at the Prime Rate, in immediately available funds.

     (d) The Parties acknowledge and agree that there shall be no carry-over of deficiency payments
beyond each Contract Quarter provided for in Section 9(a) with respect to the Minimum Crude
Oil Receiving Facility Revenue Commitment, the Minimum Tankage Revenue Commitment or the Minimum
Loading Rack Revenue Commitment.

     Section 10. Indemnification. The Parties acknowledge the indemnification
obligations between the Parties and their Affiliates with respect to the Cheyenne Assets provided
in the Omnibus Agreement.

     Section 11. Right of First Refusal. The Parties acknowledge the right of
first refusal of Frontier Cheyenne with respect to the Cheyenne Assets provided in the Omnibus
Agreement.

     Section 12. Limitation of Damages.

     (a) NOTWITHSTANDING ANYTHING CONTAINED TO THE CONTRARY IN ANY OTHER PROVISION OF THIS
AGREEMENT AND EXCEPT FOR CLAIMS MADE BY THIRD PARTIES WHICH SHALL NOT BE LIMITED BY THIS PARAGRAPH,
THE PARTIES AGREE THAT THE RECOVERY BY ANY PARTY OF ANY LIABILITIES, DAMAGES, COSTS OR OTHER
EXPENSES SUFFERED OR INCURRED BY IT AS A RESULT OF ANY BREACH OR NONFULFILLMENT BY A PARTY OF ANY
OF ITS REPRESENTATIONS, WARRANTIES, COVENANTS, AGREEMENTS OR OTHER OBLIGATIONS UNDER THIS
AGREEMENT, SHALL BE LIMITED TO ACTUAL DAMAGES AND SHALL NOT INCLUDE OR APPLY TO, NOR SHALL ANY
PARTY BE ENTITLED TO RECOVER, ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY OR

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PUNITIVE DAMAGES (INCLUDING, WITHOUT LIMITATION, ANY DAMAGES ON ACCOUNT OF LOST PROFITS OR
OPPORTUNITIES OR BUSINESS INTERRUPTION OR DIMINUTION IN VALUE) SUFFERED OR INCURRED BY ANY PARTY;
PROVIDED, HOWEVER, THAT SUCH RESTRICTION AND LIMITATION SHALL NOT APPLY (x) AS A
RESULT OF A THIRD PARTY CLAIM FOR SUCH INDIRECT, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES OR
(y) TO INDIRECT, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES (INCLUDING, WITHOUT LIMITATION, ANY
DAMAGES ON ACCOUNT OF LOST PROFITS OR OPPORTUNITIES OR BUSINESS INTERRUPTION OR DIMINUTION IN
VALUE) THAT ARE A RESULT OF THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF THE BREACHING OR
NONFULFILLING PARTY OR ITS AFFILIATES.

     Section 13. Miscellaneous

     (a) Amendments and Waivers. No amendment or modification of this Agreement shall be
valid unless it is in writing and signed by the Parties. No waiver of any provision of this
Agreement shall be valid unless it is in writing and signed by the Party against whom the waiver is
sought to be enforced. Any of the exhibits or schedules to this Agreement may be amended,
modified, revised or updated by the Parties if each of the Parties executes an amended, modified,
revised or updated exhibit or schedule, as applicable, and attaches it to this Agreement. Such
amended, modified, revised or updated exhibits or schedules shall be sequentially numbered (e.g.
Schedule I-1, Schedule I-2, etc.), dated and appended as an additional exhibit or schedule to this
Agreement and shall replace the prior exhibit or schedule, as applicable, in its entirety after its
date of effectiveness, except as specified therein. No failure or delay in exercising any right
hereunder, and no course of conduct, shall operate as a waiver of any provision of this Agreement.
No single or partial exercise of a right hereunder shall preclude further or complete exercise of
that right or any other right hereunder.

     (b) Successors and Assigns. This Agreement shall inure to the benefit of, and shall
be binding upon, Frontier Cheyenne, Cheyenne Logistics, and their respective successors and
permitted assigns. Neither this Agreement nor any of the rights or obligations hereunder shall be
assigned without the prior written consent of Frontier Cheyenne (in the case of any assignment by
Cheyenne Logistics) or Cheyenne Logistics (in the case of any assignment by Frontier Cheyenne), in
each case, such consent is not to be unreasonably withheld or delayed; provided, however,
that (i) Cheyenne Logistics may make such an assignment (including a partial pro rata assignment)
to an Affiliate of Cheyenne Logistics without Frontier Cheyenne’s consent, (ii) Frontier Cheyenne
may make such an assignment (including a pro rata partial assignment) to an Affiliate of Frontier
Cheyenne without Cheyenne Logistics’ consent, (iii) Frontier Cheyenne may make a collateral
assignment of its rights and obligations hereunder, and (iv) Cheyenne Logistics may make a
collateral assignment of its rights hereunder and/or grant a security interest in all or a portion
of the Cheyenne Assets to a bona fide third party lender or debt holder, or trustee or
representative for any of them, without Frontier Cheyenne’s consent, if such third party lender,
debt holder or trustee shall have executed and delivered to Frontier Cheyenne a non-disturbance
agreement in such form as is reasonably satisfactory to Frontier Cheyenne and such third party
lender, debt holder or trustee and Frontier Cheyenne executes an acknowledgement of such collateral
assignment in such form as may from time to time be reasonably requested. Any attempt to make an
assignment otherwise than as permitted by the foregoing shall be null and

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void. The Parties agree to require their respective successors, if any, to expressly assume,
in a form of agreement reasonably acceptable to the other Parties, their obligations under this
Agreement.

     (c) Severability. If any provision of this Agreement shall be held invalid or
unenforceable by a court or regulatory body of competent jurisdiction, the remainder of this
Agreement shall remain in full force and effect.

     (d) Choice of Law. This Agreement shall be subject to and governed by the laws of the
State of Delaware, excluding any conflicts-of-law rule or principle that might refer the
construction or interpretation of this Agreement to the laws of another state.

     (e) Arbitration Provision. Any and all Arbitrable Disputes must be resolved through
the use of binding arbitration using three arbitrators, in accordance with the Commercial
Arbitration Rules of the American Arbitration Association, as supplemented to the extent necessary
to determine any procedural appeal questions by the Federal Arbitration Act (Title 9 of the United
States Code). If there is any inconsistency between this Section 13(e) and the Commercial
Arbitration Rules or the Federal Arbitration Act, the terms of this Section 13(e) will
control the rights and obligations of the Parties. Arbitration must be initiated within the time
limits set forth in this Agreement, or if no such limits apply, then within a reasonable time or
the time period allowed by the applicable statute of limitations. Arbitration may be initiated by
a Party (“Claimant”) serving written notice on the other Party (“Respondent”) that
the Claimant elects to refer the Arbitrable Dispute to binding arbitration. Claimant’s notice
initiating binding arbitration must identify the arbitrator Claimant has appointed. The Respondent
shall respond to Claimant within thirty (30) days after receipt of Claimant’s notice, identifying
the arbitrator Respondent has appointed. If the Respondent fails for any reason to name an
arbitrator within the 30-day period, Claimant shall petition the American Arbitration Association
for appointment of an arbitrator for Respondent’s account. The two arbitrators so chosen shall
select a third arbitrator within thirty (30) days after the second arbitrator has been appointed.
The Claimant will pay the compensation and expenses of the arbitrator named by it, and the
Respondent will pay the compensation and expenses of the arbitrator named by or for it. The costs
of petitioning for the appointment of an arbitrator, if any, shall be paid by Respondent. The
Claimant and Respondent will each pay one-half of the compensation and expenses of the third
arbitrator. All arbitrators must (i) be neutral parties who have never been officers, directors or
employees of any of Frontier Cheyenne, Cheyenne Logistics, or any of their Affiliates and (ii) have
not less than seven (7) years experience in the petroleum transportation industry. The hearing
will be conducted in Dallas, Texas and commence within thirty (30) days after the selection of the
third arbitrator. Frontier Cheyenne, Cheyenne Logistics, and the arbitrators shall proceed
diligently and in good faith in order that the award may be made as promptly as possible. Except
as provided in the Federal Arbitration Act, the decision of the arbitrators will be binding on and
non-appealable by the Parties hereto. The arbitrators shall have no right to grant or award
indirect, consequential, punitive or exemplary damages of any kind. The Arbitrable Disputes may be
arbitrated in a common proceeding along with disputes under other agreements between Frontier
Cheyenne, Cheyenne Logistics, or their Affiliates to the extent that the issues raised in such
disputes are related. Without the written consent of the Parties, no unrelated disputes or third
party disputes may be joined to an arbitration pursuant to this Agreement.

Tankage, Loading Rack and Crude Oil Receiving Throughput Agreement (Cheyenne)

21

 

     (f) Rights of Limited Partners. The provisions of this Agreement are enforceable
solely by the Parties, and no limited partner of the Partnership shall have the right, separate and
apart from the Partnership, to enforce any provision of this Agreement or to compel any Party to
comply with the terms of this Agreement.

     (g) Further Assurances. In connection with this Agreement and all transactions
contemplated by this Agreement, each signatory Party hereto agrees to execute and deliver such
additional documents and instruments and to perform such additional acts as may be necessary or
appropriate to effectuate, carry out and perform all of the terms, provisions and conditions of
this Agreement and all such transactions.

     (h) Headings. Headings of the Sections of this Agreement are for convenience of the
Parties only and shall be given no substantive or interpretative effect whatsoever. All references
in this Agreement to Sections are to Sections of this Agreement unless otherwise stated.

     Section 14. Guarantee by HollyFrontier

     (a) Payment and Performance Guaranty. HollyFrontier unconditionally, absolutely,
continually and irrevocably guarantees, as principal and not as surety, to Cheyenne Logistics the
punctual and complete payment in full when due of all amounts due from Frontier Cheyenne under the
Agreement (collectively, the “Frontier Cheyenne Payment Obligations”). HollyFrontier
agrees that Cheyenne Logistics shall be entitled to enforce directly against HollyFrontier any of
the Frontier Cheyenne Payment Obligations.

     (b) Guaranty Absolute. HollyFrontier hereby guarantees that the Frontier Cheyenne
Payment Obligations will be paid strictly in accordance with the terms of the Agreement. The
obligations of HollyFrontier under this Agreement constitute a present and continuing guaranty of
payment, and not of collection or collectability. The liability of HollyFrontier under this
Agreement shall be absolute, unconditional, present, continuing and irrevocable irrespective of:

     (i) any assignment or other transfer of the Agreement or any of the rights thereunder
of Cheyenne Logistics;

     (ii) any amendment, waiver, renewal, extension or release of or any consent to or
departure from or other action or inaction related to the Agreement;

     (iii) any acceptance by Cheyenne Logistics of partial payment or performance from
Frontier Cheyenne;

     (iv) any bankruptcy, insolvency, reorganization, arrangement, composition, adjustment,
dissolution, liquidation or other like proceeding relating to Cheyenne Logistics or any
action taken with respect to the Agreement by any trustee or receiver, or by any court, in
any such proceeding;

     (v) any absence of any notice to, or knowledge of, HollyFrontier, of the existence or
occurrence of any of the matters or events set forth in the foregoing subsections (i)
through (iv); or

Tankage, Loading Rack and Crude Oil Receiving Throughput Agreement (Cheyenne)

22

 

     (vi) any other circumstance which might otherwise constitute a defense available to, or
a discharge of, a guarantor.

     The obligations of HollyFrontier hereunder shall not be subject to any reduction, limitation,
impairment or termination for any reason, including any claim of waiver, release, surrender,
alteration or compromise, and shall not be subject to any defense or setoff, counterclaim,
recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of
the Frontier Cheyenne Payment Obligations or otherwise.

     (c) Waiver. HollyFrontier hereby waives promptness, diligence, all setoffs,
presentments, protests and notice of acceptance and any other notice relating to any of the
Frontier Cheyenne Payment Obligations and any requirement for Cheyenne Logistics to protect,
secure, perfect or insure any security interest or lien or any property subject thereto or exhaust
any right or take any action against Frontier Cheyenne, any other entity or any collateral.

     (d) Subrogation Waiver. HollyFrontier agrees that for so long as there is a current
or ongoing default or breach of this Agreement by Frontier Cheyenne, HollyFrontier shall not have
any rights (direct or indirect) of subrogation, contribution, reimbursement, indemnification or
other rights of payment or recovery from Frontier Cheyenne for any payments made by HollyFrontier
under this Section 14, and HollyFrontier hereby irrevocably waives and releases, absolutely
and unconditionally, any such rights of subrogation, contribution, reimbursement, indemnification
and other rights of payment or recovery it may now have or hereafter acquire against Frontier
Cheyenne during any period of default or breach of this Agreement by Frontier Cheyenne until such
time as there is no current or ongoing default or breach of this Agreement by Frontier Cheyenne.

     (e) Reinstatement. The obligations of HollyFrontier under this Section 14
shall continue to be effective or shall be reinstated, as the case may be, if at any time any
payment of any of the Frontier Cheyenne Payment Obligations is rescinded or must otherwise be
returned to Frontier Cheyenne or any other entity, upon the insolvency, bankruptcy, arrangement,
adjustment, composition, liquidation or reorganization of Frontier Cheyenne or such other entity,
or for any other reason, all as though such payment had not been made.

     (f) Continuing Guaranty. This Section 14 is a continuing guaranty and shall
(i) remain in full force and effect until the first to occur of the indefeasible payment in full of
all of the Frontier Cheyenne Payment Obligations, (ii) be binding upon HollyFrontier, its
successors, transferees and assigns and (iii) inure to the benefit of and be enforceable by
Cheyenne Logistics and its successors, transferees and assigns.

     (g) No Duty to Pursue Others. It shall not be necessary for Cheyenne Logistics (and
HollyFrontier hereby waives any rights which HollyFrontier may have to require Cheyenne Logistics),
in order to enforce such payment by HollyFrontier, first to (i) institute suit or exhaust its
remedies against Frontier Cheyenne or others liable on the Frontier Cheyenne Payment Obligations or
any other person, (ii) enforce Cheyenne Logistics’ rights against any other guarantors of the
Frontier Cheyenne Payment Obligations, (iii) join Frontier Cheyenne or any others liable on the
Frontier Cheyenne Payment Obligations in any action seeking to enforce this Section 14,
(iv) exhaust any remedies available to Cheyenne Logistics against any security which

Tankage, Loading Rack and Crude Oil Receiving Throughput Agreement (Cheyenne)

23

 

shall ever have been given to secure the Frontier Cheyenne Payment Obligations, or (v) resort
to any other means of obtaining payment of the Frontier Cheyenne Payment Obligations.

     Section 15. Guarantee by the Partnership and Operating Partnership.

     (a) Payment and Performance Guaranty. Each of the Partnership and the Operating
Partnership unconditionally, absolutely, continually and irrevocably guarantees, as principal and
not as surety, to Frontier Cheyenne the punctual and complete payment in full when due of all
amounts due from Cheyenne Logistics under the Agreement (collectively, the “Cheyenne Logistics
Payment Obligations”). Each of the Partnership and the Operating Partnership agrees that
Frontier Cheyenne shall be entitled to enforce directly against the Partnership and the Operating
Partnership any of the Cheyenne Logistics Payment Obligations.

     (b) Guaranty Absolute. Each of the Partnership and the Operating Partnership hereby
guarantees that the Cheyenne Logistics Payment Obligations will be paid strictly in accordance with
the terms of the Agreement. The obligations of each of the Partnership and the Operating
Partnership under this Agreement constitute a present and continuing guaranty of payment, and not
of collection or collectability. The liability of each of the Partnership and the Operating
Partnership under this Agreement shall be absolute, unconditional, present, continuing and
irrevocable irrespective of:

     (i) any assignment or other transfer of the Agreement or any of the rights thereunder
of Frontier Cheyenne;

     (ii) any amendment, waiver, renewal, extension or release of or any consent to or
departure from or other action or inaction related to the Agreement;

     (iii) any acceptance by Frontier Cheyenne of partial payment or performance from
Cheyenne Logistics;

     (iv) any bankruptcy, insolvency, reorganization, arrangement, composition, adjustment,
dissolution, liquidation or other like proceeding relating to Frontier Cheyenne or any
action taken with respect to the Agreement by any trustee or receiver, or by any court, in
any such proceeding;

     (v) any absence of any notice to, or knowledge of, the Partnership or the Operating
Partnership, of the existence or occurrence of any of the matters or events set forth in the
foregoing subsections (i) through (iv); or

     (vi) any other circumstance which might otherwise constitute a defense available to, or
a discharge of, a guarantor.

     The obligations of each of the Partnership and the Operating Partnership hereunder shall not
be subject to any reduction, limitation, impairment or termination for any reason, including any
claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any
defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity,
illegality or unenforceability of the Cheyenne Logistics Payment Obligations or otherwise.

Tankage, Loading Rack and Crude Oil Receiving Throughput Agreement (Cheyenne)

24

 

     (c) Waiver. Each of the Partnership and the Operating Partnership hereby waives
promptness, diligence, all setoffs, presentments, protests and notice of acceptance and any other
notice relating to any of the Cheyenne Logistics Payment Obligations and any requirement for
Frontier Cheyenne to protect, secure, perfect or insure any security interest or lien or any
property subject thereto or exhaust any right or take any action against Cheyenne Logistics, any
other entity or any collateral.

     (d) Subrogation Waiver. Each of the Partnership and the Operating Partnership agrees
that for so long as there is a current or ongoing default or breach of this Agreement by Cheyenne
Logistics, the Partnership and the Operating Partnership shall not have any rights (direct or
indirect) of subrogation, contribution, reimbursement, indemnification or other rights of payment
or recovery from Cheyenne Logistics for any payments made by the Partnership or the Operating
Partnership under this Section 15, and each of the Partnership and the Operating
Partnership hereby irrevocably waives and releases, absolutely and unconditionally, any such rights
of subrogation, contribution, reimbursement, indemnification and other rights of payment or
recovery it may now have or hereafter acquire against Cheyenne Logistics during any period of
default or breach of this Agreement by Cheyenne Logistics until such time as there is no current or
ongoing default or breach of this Agreement by Cheyenne Logistics.

     (e) Reinstatement. The obligations of the Partnership and the Operating Partnership
under this Section 15 shall continue to be effective or shall be reinstated, as the case
may be, if at any time any payment of any of the Cheyenne Logistics Payment Obligations is
rescinded or must otherwise be returned to Cheyenne Logistics or any other entity, upon the
insolvency, bankruptcy, arrangement, adjustment, composition, liquidation or reorganization of
Cheyenne Logistics or such other entity, or for any other reason, all as though such payment had
not been made.

     (f) Continuing Guaranty. This Section 15 is a continuing guaranty and shall
(i) remain in full force and effect until the first to occur of the indefeasible payment in full of
all of the Cheyenne Logistics Payment Obligations, (ii) be binding upon the Partnership, the
Operating Partnership, and each of their respective successors and assigns and (iii) inure to the
benefit of and be enforceable by Frontier Cheyenne and its successors, transferees and assigns.

     (g) No Duty to Pursue Others. It shall not be necessary for Frontier Cheyenne (and
each of the Partnership and the Operating Partnership hereby waives any rights which the
Partnership or the Operating Partnership, as applicable, may have to require Frontier Cheyenne), in
order to enforce such payment by the Partnership or the Operating Partnership, first to (i)
institute suit or exhaust its remedies against Cheyenne Logistics or others liable on the Cheyenne
Logistics Payment Obligations or any other person, (ii) enforce Frontier Cheyenne’ rights against
any other guarantors of the Cheyenne Logistics Payment Obligations, (iii) join Cheyenne Logistics
or any others liable on the Cheyenne Logistics Payment Obligations in any action seeking to enforce
this Section 15, (iv) exhaust any remedies available to Frontier Cheyenne against any
security which shall ever have been given to secure the Cheyenne Logistics Payment Obligations, or
(v) resort to any other means of obtaining payment of the Cheyenne Logistics Payment Obligations.

[Remainder of page intentionally left blank. Signature pages follow.]

Tankage, Loading Rack and Crude Oil Receiving Throughput Agreement (Cheyenne)

25

 

     IN WITNESS WHEREOF, the undersigned Parties have executed this Agreement to be Effective as of
the Effective Time.

	 	 	 	 	 	 	 

	 	 	CHEYENNE LOGISTICS:	 	 
	 
	 	 	 	 	 	 
	 	 	CHEYENNE LOGISTICS LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Mark T. Cunningham	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Mark T. Cunningham	 	 
	 

	 	Title:
	 	Vice President, Operations	 	 
	 
	 	 	 	 	 	 
	 	 	FRONTIER CHEYENNE:	 	 
	 
	 	 	 	 	 	 
	 	 	FRONTIER REFINING LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ James M. Stump	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	James M. Stump	 	 
	 

	 	Title:
	 	Senior Vice President, Refinery Operations	 	 

	 	 	 	 	 

	ACKNOWLEDGED AND AGREED
FOR PURPOSES OF Section 9(b)
AND Section 14:	 	 
	 
	 	 	 	 
	HOLLYFRONTIER CORPORATION	 	 
	 
	 	 	 	 
	By:

	 	/s/ Douglas S. Aron	 	 
	 

	 	 	 	 
	Name:

	 	Douglas S. Aron	 	 
	Title:

	 	Executive Vice President
and Chief Financial Officer	 	 

Signature Page 1 of 2

Tankage, Loading Rack And Crude Oil Receiving Throughput Agreement (Cheyenne)

 

 

	 	 	 	 	 

	ACKNOWLEDGED AND AGREED
FOR PURPOSES OF Section 9(b)
AND Section 15:	 	 
	 
	 	 	 	 
	HOLLY ENERGY PARTNERS, L.P.	 	 
	 
	 	 	 	 
	By:

	 	HEP Logistics Holdings, L.P.,

its General Partner	 	 
	 
	 	 	 	 
	By:

	 	Holly Logistic Services, L.L.C.,

its General Partner	 	 
	 
	 	 	 	 
	By:

	 	/s/ Mark T. Cunningham	 	 
	 

	 	 	 	 
	Name:

	 	Mark T. Cunningham	 	 
	Title:

	 	Vice President, Operations	 	 
	 
	 	 	 	 
	ACKNOWLEDGED AND AGREED
FOR PURPOSES OF Section 15:	 	 
	 
	 	 	 	 
	HOLLY ENERGY PARTNERS-OPERATING, L.P.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Mark T. Cunningham	 	 
	 

	 	 	 	 
	Name:

	 	Mark T. Cunningham	 	 
	Title:

	 	Vice President, Operations	 	 

Signature Page 2 of 2

Tankage, Loading Rack And Crude Oil Receiving Throughput Agreement (Cheyenne)

 

 

SCHEDULE I

CRUDE OIL RECEIVING TARIFF

	Crude Oil Receiving

Base Tariff

	$0.3000 per barrel
 

	
Crude Oil Receiving

Incentive Tariff

	$0.1400 per barrel
 

Schedule I

 

 

SCHEDULE II

TANKAGE TARIFFS

	Tankage
Base Tariff

	$0.4500 per barrel
 

	
Tankage Incentive Tariff

	$0.2000 per barrel
 

Schedule II

 

 

SCHEDULE III

LOADING RACK TARIFF

	
Loading Rack Tariff

	$0.2500 per barrel
 

SCHEDULE III

 

 

SCHEDULE IV

ASSUMED OPEX

	
Assumed OPEX

	$2,200,000.00
 

SCHEDULE IV

 

 

EXHIBIT A

LOADING RACKS

The Refined Products Truck Loading Rack, including the Vapor Recovery Unit and the two (2)
Propane Loading Spots transferred to Cheyenne Logistics pursuant to that certain Conveyance,
Assignment and Bill of Sale (Cheyenne), dated effective as of October 25, 2011, by and between
Frontier Cheyenne and Cheyenne Logistics.

Exhibit A

 

 

EXHIBIT B

CRUDE OIL RECEIVING ASSETS

The four (4) Crude Oil LACTS Units, the Crude Oil Receiving Pipeline, and the petroleum
storage tanks listed below under “Petroleum Storage Tanks” transferred to Cheyenne Logistics
pursuant to that certain Conveyance, Assignment and Bill of Sale (Cheyenne), dated effective as of
October 25, 2011, by and between Frontier Cheyenne and Cheyenne Logistics.

Petroleum Storage Tanks:

	 	 	 	 	 	 	 
	 	 	CURRENT	 	NOMINAL
	TANK ID NUMBER	 	SERVICE/PRODUCT	 	CAPACITY, BBLS
	2-036
	 	Recovered Oil / Crude slop	 	 	5,056	 
	2-063
	 	Crude HSR	 	 	10,096	 
	2-067
	 	Crude LSR	 	 	10,093	 
	2-072
	 	Crude	 	 	80,581	 
	2-073
	 	Crude	 	 	80,551	 
	2-074
	 	Crude	 	 	79,766	 

Exhibit B

 

 

EXHIBIT C

TANKAGE

	 	 	 	 	 	 	 
	 	 	CURRENT	 	NOMINAL CAPACITY,
	TANK ID NUMBER	 	SERVICE/PRODUCT	 	BBLS
	1-107
	 	Intermediate Distillate	 	 	69,867	 
	1-013
	 	Coker Distillate	 	 	1,914	 
	1-014
	 	Low Sul. Diesel	 	 	24,677	 
	1-015
	 	No Lead Gas	 	 	24,677	 
	1-016
	 	Ethanol	 	 	2,564	 
	1-017
	 	Prem. No Lead Gas	 	 	5,034	 
	1-020
	 	FCC Slurry Oil	 	 	5,018	 
	1-021
	 	Sweet Naphtha / VRU	 	 	9,867	 
	1-027
	 	Biodiesel	 	 	4,000	 
	1-028
	 	Diesel	 	 	5,179	 
	1-029
	 	Slop Oil	 	 	10,709	 
	1-032
	 	Diesel	 	 	10,124	 
	1-033
	 	Coker Distillate	 	 	10,342	 
	1-040
	 	FCC Slurry Oil	 	 	10,121	 
	1-048
	 	Coker Distillate	 	 	1,341	 
	1-049
	 	Coker Distillate	 	 	1,341	 
	1-050
	 	Vacuum Bottoms	 	 	67,428	 
	1-051
	 	Asphalt	 	 	22,000	 
	1-052
	 	PG 58-28 (Asphalt)	 	 	72,017	 
	1-053
	 	FCCU Slurry	 	 	13,506	 

Exhibit C

 

 

	 	 	 	 	 	 	 
	 	 	CURRENT	 	NOMINAL CAPACITY,
	TANK ID NUMBER	 	SERVICE/PRODUCT	 	BBLS
	1-054
	 	Asphalt	 	 	22,000	 
	1-055
	 	PG 58-28 (Asphalt)	 	 	54,499	 
	1-056
	 	Coker feed tank	 	 	55,000	 
	1-058
	 	Slop Oil	 	 	10,493	 
	1-090
	 	PG 64-22 (Asphalt)	 	 	55,954	 
	1-091
	 	PG 58-28 (Asphalt)	 	 	55,954	 
	1-093
	 	PG 64-22 (Asphalt)	 	 	2,602	 
	1-094
	 	PG 64-22 (Asphalt)	 	 	2,602	 
	1-095
	 	PG 64-22 (Asphalt)	 	 	2,602	 
	1-106
	 	No Lead Gas	 	 	120,000	 
	2-015
	 	Diesel	 	 	28,870	 
	2-016
	 	Diesel	 	 	28,046	 
	2-017
	 	UC Crack (LCO / Coker Distillate)	 	 	28,562	 
	2-020
	 	Gas Oil	 	 	10,746	 
	2-021
	 	Gas Oil	 	 	10,746	 
	2-022
	 	UC Crack (LCO / Coker Distillate)	 	 	9,731	 
	2-023
	 	Coker Gas Oil	 	 	10,583	 
	2-028
	 	Cat Gas Oil	 	 	80,153	 
	2-034
	 	Reformate	 	 	23,234	 
	2-035
	 	Alkylate	 	 	24,190	 
	2-036
	 	Recovered Oil / Crude slop	 	 	5,056	 

Exhibit C

 

 

	 	 	 	 	 	 	 
	 	 	CURRENT	 	NOMINAL CAPACITY,
	TANK ID NUMBER	 	SERVICE/PRODUCT	 	BBLS
	2-060
	 	Toluene	 	 	9,846	 
	2-061
	 	Sweet Naphtha	 	 	10,096	 
	2-062
	 	Unifiner Charge Straight Run (Burner / Distillate)	 	 	9,970	 
	2-063
	 	Crude HSR	 	 	10,096	 
	2-067
	 	Crude LSR	 	 	10,093	 
	2-070
	 	Sub Grade No Lead Gas	 	 	32,608	 
	2-071
	 	Premium No Lead Gas	 	 	32,612	 
	2-072
	 	Crude	 	 	80,581	 
	2-073
	 	Crude	 	 	80,551	 
	2-074
	 	Crude	 	 	79,766	 
	2-075
	 	CokNap	 	 	80,278	 
	2-100
	 	LSR/LSG	 	 	41,978	 
	2-101
	 	Diesel	 	 	42,051	 
	2-102
	 	No Lead Gas	 	 	80,278	 
	2-104
	 	HSR (Sweet Naphtha)	 	 	54,749	 
	2-105
	 	Cat Gas Oil	 	 	54,954	 
	TOTAL CAPACITY
(58 TANKS)
	 	 	 	 	1,723,856	 

Exhibit Cexv10w3

Exhibit 10.3

EXECUTION VERSION

PIPELINE DELIVERY, TANKAGE AND LOADING RACK THROUGHPUT

AGREEMENT

(EL DORADO)

     This Pipeline Delivery, Tankage and Loading Rack Throughput Agreement (this
“Agreement”) is dated as of November 9, 2011 to be effective as of the Effective Time (as
defined below), by and between Frontier El Dorado Refining LLC, a Delaware limited liability
company (“Frontier El Dorado”), and El Dorado Logistics LLC, a Delaware limited liability
company (“El Dorado Logistics”). Each of Frontier El Dorado and El Dorado Logistics are
individually referred to herein as a “Party” and collectively as the “Parties.”

RECITALS:

     WHEREAS, pursuant to that certain LLC Interest Purchase Agreement dated effective as of
November 1, 2011 (the “Purchase Agreement”) by and among HollyFrontier Corporation, a
Delaware corporation (“HollyFrontier”), Frontier Refining LLC, a Delaware limited liability
company, Frontier El Dorado, Holly Energy Partners — Operating, L.P., a Delaware limited
partnership (“Purchaser”), and Holly Energy Partners, L.P., a Delaware limited partnership,
Purchaser acquired all of the limited liability company interests in El Dorado Logistics and became
the sole member thereof (the “Sale”);

     WHEREAS, prior to the Sale, El Dorado Logistics acquired certain pipeline delivery, storage
tank and loading rack assets located at Frontier El Dorado’s refinery in El Dorado, Kansas (the
“Refinery”); and

     WHEREAS, in connection with the closing of the transactions contemplated under the Purchase
Agreement, Frontier El Dorado and El Dorado Logistics desire to enter into this Agreement.

     NOW, THEREFORE, in consideration of the covenants and obligations contained herein, the
Parties hereby agree as follows:

     Section 1. Definitions

     Capitalized terms used throughout this Agreement and not otherwise defined herein shall have
the meanings set forth below.

     “Affiliate” means, with to respect to a specified person, any other person
controlling, controlled by or under common control with that first person. As used in this
definition, the term “control” includes (i) with respect to any person having voting securities or
the equivalent and elected directors, managers or persons performing similar functions, the
ownership of or power to vote, directly or indirectly, voting securities or the equivalent
representing 50% or more of the power to vote in the election of directors, managers or persons
performing similar functions, (ii) ownership of 50% or more of the equity or equivalent interest in
any person and (iii) the ability to direct the business and affairs of any person by acting as a
general partner, manager or otherwise. Notwithstanding the foregoing, no HollyFrontier Entity will
be considered an

Pipeline Delivery, Tankage and Loading Rack Throughput Agreement (El Dorado)

 

 

Affiliate of an HEP Entity, and no HEP Entity will be considered an Affiliate of a
HollyFrontier Entity.

     “Agreement” has the meaning set forth in the preamble to this Agreement.

     “Applicable Law” means any applicable statute, law, regulation, ordinance, rule,
judgment, rule of law, order, decree, permit, approval, concession, grant, franchise, license,
agreement, requirement, or other governmental restriction or any similar form of decision of, or
any provision or condition of any permit, license or other operating authorization issued under any
of the foregoing by, or any determination of, any Governmental Authority having or asserting
jurisdiction over the matter or matters in question, whether now or hereafter in effect and in each
case as amended (including, without limitation, all of the terms and provisions of the common law
of such Governmental Authority), as interpreted and enforced at the time in question.

     “Arbitrable Dispute” means any and all disputes, Claims, controversies and other
matters in question between Frontier El Dorado, on the one hand, and El Dorado Logistics, on the
other hand, arising out of or relating to this Agreement or the alleged breach hereof, or in any
way relating to the subject matter of this Agreement regardless of whether (a) allegedly
extra-contractual in nature, (b) sounding in contract, tort or otherwise, (c) provided for by
Applicable Law or otherwise or (d) seeking damages or any other relief, whether at law, in equity
or otherwise.

     “Assumed OPEX” means the amount set forth on Schedule IV attached hereto.

     “bpd” means barrels per day.

     “Claim” means any existing or threatened future claim, demand, suit, action,
investigation, proceeding, governmental action or cause of action of any kind or character (in each
case, whether civil, criminal, investigative or administrative), known or unknown, under any
theory, including those based on theories of contract, tort, statutory liability, strict liability,
employer liability, premises liability, products liability, breach of warranty or malpractice.

     “Claimant” has the meaning set forth in Section 13(e).

     “Closing Date” has the meaning for such term in the Purchase Agreement.

     “Contract Quarter” means a three-month period that commences on January 1, April 1,
July 1, or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

     “Control” (including with correlative meaning, the term “controlled by”) means, as
used with respect to any Person, the possession, direct or indirect, of the power to direct or
cause the direction of the management and policies of such Person, whether through the ownership of
voting securities, by contract or otherwise.

     “Crude Oil” means the direct liquid product of oil wells, oil processing plants, the
indirect liquid petroleum products of oil or gas wells, oil sands or a mixture of such products,
but does not include natural gas liquids or Refined Products.

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     “Deficiency Notice” has the meaning set forth in Section 9(a).

     “Deficiency Payment” has the meaning set forth in Section 9(a).

     “Disputed Deficiency Notice” has the meaning set forth in Section 9(a).

     “Disputed Deficiency Payment” has the meaning set forth in Section 9(a).

     “DRA” has the meaning set forth in Section 2(f).

     “Effective Time” means 12:01 a.m., Dallas, Texas time, on November 1, 2011.

     “El Dorado Assets” has the meaning given to such term in the Purchase Agreement.

     “El Dorado Logistics” has the meaning set forth in the preamble to this Agreement.

     “El Dorado Logistics Payment Obligations” has the meaning set forth in Section
15(a).

     “Environmental Law” shall have the meaning given such term in the Omnibus Agreement.

     “Environmental Permits” has the meaning set forth in Section 2(q).

     “Force Majeure” means acts of God, strikes, lockouts or other industrial disturbances,
acts of the public enemy, wars, blockades, insurrections, riots, storms, floods, washouts, arrests,
the order of any Governmental Authority having jurisdiction while the same is in force and effect,
civil disturbances, explosions, breakage, accident to machinery, storage tanks or lines of pipe,
inability to obtain or unavoidable delay in obtaining material or equipment, and any other causes
whether of the kind herein enumerated or otherwise not reasonably within the control of the Party
claiming suspension and which by the exercise of due diligence such Party is unable to prevent or
overcome. Notwithstanding anything in this Agreement to the contrary, inability of a Party to make
payments when due, be profitable or to secure funds, arrange bank loans or other financing, obtain
credit or have adequate capacity or production (other than for reasons of Force Majeure) shall not
be regarded as events of Force Majeure.

     “Force Majeure Notice” has the meaning set forth in Section 4(c).

     “Frontier El Dorado” has the meaning set forth in the preamble to this Agreement.

     “Frontier El Dorado Payment Obligations” has the meaning set forth in Section
14(a).

     “Governmental Authority” means any federal, state, local or foreign government or any
provincial, departmental or other political subdivision thereof, or any entity, body or authority
exercising executive, legislative, judicial, regulatory, administrative or other governmental
functions or any court, department, commission, board, bureau, agency, instrumentality or
administrative body of any of the foregoing.

     “HEP Entities” means Holly Logistic Services, L.L.C., HEP Logistics Holdings, L.P. and
the Partnership and its direct and indirect subsidiaries.

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     “HollyFrontier” has the meaning set forth in the recitals.

     “HollyFrontier Entities” means HollyFrontier and its direct and indirect subsidiaries
other than the HEP Entities.

     “Heavy Products” means fuel oil, asphalt, coker feed, vacuum tower bottoms,
atmospheric tower bottoms, pitch, or roofing flux.

     “Intermediate Products” means non-finished intermediate products, including, but not
limited to, high sulfur diesel fuel for DHT feed, jet fuel, naphtha for reformer feed, gas oil or
LEF for FCC feed, reformate, light straight run, hydrogen, fuel gas, and sour fuel gas.

     “Loading Rack” means the refined products truck loading rack and the propane truck
loading rack located at the Refinery and more specifically described in Exhibit A attached
hereto.

     “Loading Rack Tariff” means the amount set forth on Schedule III attached
hereto.

     “LPG Products” means propane, refinery grade propylene, normal butane, and isobutane.

     “Minimum Loading Rack Revenue Commitment” has the meaning set forth in Section
2(c)(i).

     “Minimum Loading Rack Throughput” means 20,000 bpd of Products, in the aggregate, on
average for each Contract Quarter.

     “Minimum Pipeline Delivery Revenue Commitment” has the meaning set forth in
Section 2(a)(i).

     “Minimum Pipeline Delivery Throughput” means 120,000 bpd of Intermediate and Refined
Products, in the aggregate, on average for each Contract Quarter.

     “Minimum Tankage Revenue Commitment” has the meaning set forth in Section
2(b)(i).

     “Minimum Tankage Throughput” means 140,000 bpd of Products, in the aggregate, on
average for each Contract Quarter.

     “Omnibus Agreement” means the Sixth Amended and Restated Omnibus Agreement, dated as
of November 9, 2011 to be effective as of November 1, 2011, by and among HollyFrontier, the
Partnership and certain of their respective subsidiaries, as the same may be amended hereafter,
from time-to-time.

     “Operating Partnership” means Holly Energy Partners-Operating, L.P., a Delaware
limited partnership.

     “OPEX Recovery Amount” means an amount equal to (a) the difference between the
percentage increase in PPI for a given year minus seven percent (7%) multiplied by (b) the
then-current Assumed OPEX.

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     “Person” means an individual or a corporation, limited liability company, partnership,
joint venture, trust, unincorporated organization, association, government agency or political
subdivision thereof or other entity.

     “Parties” or “Party” has the meaning set forth in the preamble to this
Agreement.

     “Partnership” means Holly Energy Partners, L.P., a Delaware limited partnership.

     “Pipeline Delivery Base Tariff” means the amount set forth under such term on
Schedule I attached hereto.

     “Pipeline Delivery Incentive Tariff” means the amount set forth under such term on
Schedule I attached hereto.

     “Pipeline Delivery Incentive Tariff Threshold” means 132,000 pbd of Intermediate and
Refined Products, in the aggregate, on average for each Contract Quarter.

     “PPI” has the meaning set forth in Section 2(a)(ii).

     “Prime Rate” means the prime rate per annum announced by Union Bank, N.A., or if Union
Bank, N.A. no longer announces a prime rate for any reason, the prime rate per annum announced by
the largest U.S. bank measured by deposits from time to time as its base rate on corporate loans,
automatically fluctuating upward or downward with each announcement of such prime rate.

     “Products” means Refined Products, LPG Products, Intermediate Products and Heavy
Products.

     “Prudent Industry Practice” means such practices, methods, acts, techniques, and
standards as are in effect at the time in question that are consistent with (a) the standards
generally followed by the United States pipeline and terminalling industries or (b) such higher
standards as may be applied or followed by Frontier El Dorado and its Affiliates in the performance
of similar tasks or projects, or by El Dorado Logistics and its Affiliates in the performance of
similar tasks or projects.

     “Purchase Agreement” has the meaning set forth in the recitals to this Agreement.

     “RCRA Order” means the administrative order to which the Refinery is or soon will be
subject issued by the U.S. Environmental Protection Agency under Section 3008(h) of the Resource
Conservation and Recovery Act.

     “Refined Products” means gasoline, kerosene, ethanol and diesel fuel.

     “Refinery” has the meaning set forth in the recitals.

     “Refund” has the meaning set forth in Section 9(c).

     “Respondent” has the meaning set forth in Section 13(e).

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     “Tankage” means the tanks set forth on Exhibit B attached hereto;
provided, however, that such term shall include Tanks 640 and 641 following
conveyance of such tanks as provided in Section 9.2 of the Purchase Agreement.

     “Tankage Base Tariff” means the amount set forth on Schedule II attached
hereto.

     “Tankage Incentive Tariff” means the amount set forth on Schedule II attached
hereto.

     “Tankage Incentive Tariff Threshold” means 154,000 bpd of Products, in the aggregate,
on average for each Contract Quarter.

     “Term” has the meaning set forth in Section 6.

     Section 2. Agreement to Use Services Relating to Pipeline Delivery, Tankage and
Loading Rack.

     The Parties intend to be strictly bound by the terms set forth in this Agreement, which sets
forth revenues to El Dorado Logistics to be paid by Frontier El Dorado and requires El Dorado
Logistics to provide certain transportation, storage and loading services to Frontier El Dorado.
The principal objective of El Dorado Logistics is for Frontier El Dorado to meet or exceed its
obligations with respect to the Minimum Pipeline Delivery Revenue Commitment, to meet or exceed its
obligations with respect to the Minimum Tankage Revenue Commitment, and to meet or exceed its
obligations with respect to the Minimum Loading Rack Revenue Commitment. The principal objective
of Frontier El Dorado is for El Dorado Logistics to provide services to Frontier El Dorado in a
manner that enables Frontier El Dorado to operate the Refinery.

     (a) Minimum Pipeline Delivery Revenue Commitment. During the Term and subject to the
terms and conditions of this Agreement, Frontier El Dorado agrees as follows:

     (i) Subject to Section 4, Frontier El Dorado shall pay El Dorado Logistics
throughput fees for pipeline delivery services that will satisfy the Minimum Pipeline
Delivery Revenue Commitment in exchange for El Dorado Logistics providing Frontier El Dorado
a minimum of 120,000 barrels per day of aggregate delivery capacity from the Tankage. The
“Minimum Pipeline Delivery Revenue Commitment” shall be an amount of revenue to El
Dorado Logistics for each Contract Quarter determined by multiplying the Minimum Pipeline
Delivery Throughput by the Pipeline Delivery Base Tariff as such Pipeline Delivery Base
Tariff may be revised pursuant to Section 2(a)(iii) or Section 2(m).
Notwithstanding the foregoing, in the event that the Closing Date is any date other than the
first day of a Contract Quarter, then the Minimum Pipeline Delivery Revenue Commitment for
the initial Contract Quarter shall be prorated based upon the number of days actually in
such contract quarter and the initial Contract Quarter.

     (ii) Pipeline delivery throughput shall be determined by the shipments of Products by
pipeline (and not over the Loading Racks) by the Refinery. Frontier El Dorado will pay the
Pipeline Delivery Base Tariff for each throughput barrel up to and including the Pipeline
Delivery Incentive Tariff Threshold. If the average throughput for any Contract Quarter
exceeds the Pipeline Delivery Incentive Tariff Threshold

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attributable to such Contract Quarter then, for each throughput barrel in excess of the
Pipeline Delivery Incentive Tariff Threshold, Frontier El Dorado shall pay El Dorado
Logistics throughput fees in the amount of the Pipeline Delivery Incentive Tariff as such
amount may be revised pursuant to Section 2(a)(iii) or Section 2(m).

     (iii) The Pipeline Delivery Base Tariff and Pipeline Delivery Incentive Tariff shall be
adjusted on July 1 of each calendar year commencing on July 1, 2012, by an amount equal to
the upper change in the annual change rounded to four decimal places of the Producers Price
Index-Commodities-Finished Goods, (PPI), et al. (“PPI”), produced by the U.S.
Department of Labor, Bureaus of Labor Statistics; provided that neither the Pipeline
Delivery Base Tariff nor the Pipeline Delivery Incentive Tariff shall ever be increased by
more than 3% for any such calendar year. The series ID is WPUSOP3000 as of June 1, 2011 —
located at http://www.bls.gov/data/. The change factor shall be calculated as follows:
annual PPI index (most current year) less annual PPI index (most current year minus
1) divided by annual PPI index (most current year minus 1). An example for year
2009 change is: [PPI (2008) — PPI (2007)] / PPI (2007) or (177.1 — 166.6) / 166.6 or .063
or 6.3%. If the PPI index change is negative in a given year then there will be no change
in the Pipeline Delivery Base Tariff or Pipeline Delivery Incentive Tariff. If the above
index is no longer published, then Frontier El Dorado and El Dorado Logistics shall
negotiate in good faith to agree on a new index that gives comparable protection against
inflation, and the same method of adjustment for increases in the new index shall be used to
calculate increases in the Pipeline Delivery Base Tariff and Pipeline Delivery Incentive
Tariff. If Frontier El Dorado and El Dorado Logistics are unable to agree, a new index will
be determined by binding arbitration in accordance with Section 13(e), and the same
method of adjustment for increases in the new index shall be used to calculate increases in
the Pipeline Delivery Base Tariff and Pipeline Delivery Incentive Tariff. To evidence the
Parties’ agreement to each adjusted Pipeline Delivery Base Tariff and Pipeline Delivery
Incentive Tariff, the Parties shall execute an amended, modified, revised or updated
Schedule I and attach it to this Agreement. Such amended, modified, revised or
updated Schedule I shall be sequentially numbered (e.g. Schedule I-1,
Schedule I-2, etc.), dated and appended as an additional schedule to this Agreement
and shall replace the prior version of Schedule I in its entirety after its date of
effectiveness.

     (iv) If Frontier El Dorado is unable to transport the volumes of Products required to
meet the Minimum Pipeline Delivery Revenue Commitment as a result of El Dorado Logistics’
operational difficulties, prorationing, or the inability to provide sufficient capacity for
the Minimum Pipeline Delivery Throughput, then the Minimum Pipeline Delivery Revenue
Commitment applicable to the Contract Quarter during which Frontier El Dorado is unable to
transport such volumes of Products will be reduced by an amount equal to: (A) the volume of
Products that Frontier El Dorado was unable to transport (but not to exceed the Minimum
Pipeline Delivery Throughput), as a result of El Dorado Logistics’ operational difficulties,
prorationing or inability to provide sufficient capacity to achieve the Minimum Pipeline
Delivery Throughput, multiplied by (B) the Pipeline Delivery Base Tariff. This Section
2(a)(iv) shall not apply in the event El Dorado Logistics gives notice of a Force
Majeure event in accordance with Section 4,

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in which case the Minimum Pipeline Delivery Revenue Commitment shall be suspended in
accordance with and as provided in Section 4.

     (b) Minimum Tankage Revenue Commitment; Tankage Tariffs. During the Term and subject
to the terms and conditions of this Agreement, Frontier El Dorado agrees as follows:

     (i) Subject to Section 4, Frontier El Dorado shall pay El Dorado Logistics
throughput fees associated with the Tankage that will satisfy the Minimum Tankage Revenue
Commitment in exchange for El Dorado Logistics providing Frontier El Dorado a minimum of
140,000 bpd barrels of aggregate capacity in the Tankage. The “Minimum Tankage Revenue
Commitment” shall be an amount of revenue to El Dorado Logistics for each Contract
Quarter determined by multiplying the Minimum Tankage Throughput by the Tankage Base Tariff
as such Tankage Base Tariff may be revised pursuant to Section 2(b)(iii),
Section 2(m), and Section 2(n). Notwithstanding the foregoing, in the event
that the Closing Date is any date other than the first day of a Contract Quarter, then the
Minimum Tankage Revenue Commitment for the initial Contract Quarter shall be prorated based
upon the number of days actually in such contract quarter and the initial Contract Quarter.
Subject to (i) any Applicable Law and (ii) technical specifications of the Tankage, Frontier
El Dorado may request that El Dorado Logistics change the service of any of the Tankage from
storage of one Product to storage of a different Product. If El Dorado Logistics agrees to
such request, Frontier El Dorado shall indemnify and hold El Dorado Logistics harmless from
and against all costs and expenses associated with any such changing of service including
but not limited to costs of complying with any Applicable Law affecting such change of
service.

     (ii) Tankage throughput shall be determined by the sum of Products shipped by the
Refinery but not including shipments of coke and sulfur. For the avoidance of doubt, no
Tankage throughput fees shall be paid for movements of Products within the Refinery.
Frontier El Dorado shall pay the Tankage Base Tariff for each throughput barrel up to and
including the Tankage Incentive Tariff Threshold. If the average throughput for any
Contract Quarter exceeds the Tankage Incentive Tariff Threshold attributable to such
Contract Quarter then, for each throughput barrel in excess of the Tankage Incentive Tariff
Threshold, Frontier El Dorado shall pay El Dorado Logistics throughput fees in the amount of
the Tankage Incentive Tariff as such amount may be revised pursuant to Section
2(b)(iii) or Section 2(m).

     (iii) The Tankage Base Tariff and Tankage Incentive Tariff shall each be adjusted on
July 1 of each calendar year commencing on July 1, 2012, by an amount equal to the upper
change in the annual change rounded to four decimal places of the PPI following the same
procedure as set forth in Section 2(a)(iii) above (including the provisions
regarding binding arbitration); provided that the Tankage Base Tariff and Tankage Incentive
Tariff shall never be increased by more than 3% for any such calendar year. To evidence the
Parties’ agreement to each adjusted Tankage Base Tariff and Tankage Incentive Tariff, the
Parties shall execute an amended, modified, revised or updated Schedule II and
attach it to this Agreement. Such amended, modified, revised or updated Schedule II
shall be sequentially numbered (e.g. Schedule II-1, Schedule II-2,

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etc.), dated and appended as an additional schedule to this Agreement and shall replace
the prior version of Schedule II in its entirety after its date of effectiveness.

     (iv) If Frontier El Dorado is unable to deliver to the Tankage the volumes of Refined
Products required to meet the Minimum Tankage Revenue Commitment as a result of El Dorado
Logistics’ operational difficulties, prorationing or the inability to provide sufficient
capacity, then the Minimum Tankage Revenue Commitment applicable to the Contract Quarter
during which Frontier El Dorado is unable to deliver such volumes of Refined Products will
be reduced by an amount equal to: (A) the volume of Refined Products that Frontier El Dorado
was unable to deliver to the Tankage (but not to exceed the Minimum Tankage Throughput), as
a result of El Dorado Logistics’ operational difficulties, prorationing or inability to
provide sufficient capacity to achieve the Minimum Tankage Throughput, multiplied by (B) the
Tankage Base Tariff. This Section 2(b)(iv) shall not apply in the event El Dorado
Logistics gives notice of a Force Majeure event in accordance with Section 4, in
which case the Minimum Tankage Revenue Commitment shall be suspended in accordance with and
as provided in Section 4.

     (c) Minimum Loading Rack Revenue Commitment.

     (i) Subject to Section 4, Frontier El Dorado shall pay El Dorado Logistics
throughput fees associated with the Loading Racks that will satisfy the Minimum Loading Rack
Revenue Commitment in exchange for El Dorado Logistics providing Frontier El Dorado a
minimum of 20,000 barrels per day of aggregate capacity at the Loading Racks. The
“Minimum Loading Rack Revenue Commitment” shall be an amount of revenue to El Dorado
Logistics for each Contract Quarter determined by multiplying the Minimum Loading Rack
Throughput by the Loading Rack Tariff as such Loading Rack Tariff may be revised pursuant to
Section 2(c)(ii) or Section 2(m). Frontier El Dorado will pay El Dorado
Logistics the Loading Rack Tariff for all quantities of Products or other materials loaded
at the Loading Rack and any Products or other materials shipped using the weight scales
associated with the Loading Racks. Notwithstanding the foregoing, in the event that the
Closing Date is any date other than the first day of a Contract Quarter, then the Minimum
Loading Rack Revenue Commitment for the initial Contract Quarter shall be prorated based
upon the number of days actually in such contract quarter and the initial Contract Quarter.

     (ii) The Loading Rack Tariff shall be adjusted on July 1 of each calendar year
commencing on July 1, 2012, by an amount equal to the upper change in the annual change
rounded to four decimal places of the PPI following the same procedure as set forth in
Section 2(a)(iii) above (including the provisions regarding binding arbitration);
provided that the Loading Rack Tariff shall never be increased by more than 3% for any such
calendar year. To evidence the Parties’ agreement to each adjusted Loading Rack Tariff, the
Parties shall execute an amended, modified, revised or updated Schedule III and
attach it to this Agreement. Such amended, modified, revised or updated Schedule
III shall be sequentially numbered (e.g. Schedule III-1, Schedule III-2,
etc.), dated and appended as an additional schedule to this Agreement and shall replace the
prior version of Schedule III in its entirety after its date of effectiveness.

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     (iii) If Frontier El Dorado is unable to load at the Loading Rack the volumes of
Products, in the aggregate, required to meet the Minimum Loading Rack Revenue Commitment as
a result of El Dorado Logistics’ operational difficulties, prorationing or the inability to
provide sufficient capacity, then the Minimum Loading Rack Revenue Commitment applicable to
the Contract Quarter during which Frontier El Dorado is unable to load such volumes of
Products will be reduced for such period of time by an amount equal to: (A) the volume of
Products, in the aggregate, that Frontier El Dorado was unable to load at the Loading Rack
(but not to exceed the Minimum Loading Rack Throughput), as a result of El Dorado Logistics’
operational difficulties, prorationing or inability to provide sufficient capacity to
achieve the Minimum Loading Rack Throughput, multiplied by (B) the Loading Rack Tariff.
This Section 2(c)(iii) shall not apply in the event El Dorado Logistics gives notice
of a Force Majeure event in accordance with Section 4, in which case the Minimum
Loading Rack Revenue Commitment shall be suspended in accordance with and as provided in
Section 4.

     (d) [Reserved.]

     (e) Obligations of El Dorado Logistics. During the Term and subject to the terms and
conditions of this Agreement, including Section 13(b), El Dorado Logistics agrees to: (A)
own or lease, operate and maintain the El Dorado Assets and all related assets necessary to handle
the Crude Oil and Products from Frontier El Dorado; (B) provide the services required under this
Agreement and perform all operations relating to the El Dorado Assets including, but not limited
to, tank gauging, tank maintenance, tank dike maintenance, loading trucks, interaction with third
party pipelines, and customer interface for access agreements; and (C) maintain adequate property
and liability insurance covering the El Dorado Assets and any related assets owned by El Dorado
Logistics and necessary for the operation of the El Dorado Assets. Notwithstanding the foregoing,
subject to Section 13(b) of this Agreement and applicable provisions of the Omnibus
Agreement, El Dorado Logistics is free to sell any of its assets, including assets that provide
services under this Agreement, and Frontier El Dorado is free to merge with another entity and to
sell all of its assets or equity to another entity at any time.

     (f) Drag Reducing Agents and Additives. If El Dorado Logistics determines that adding
drag reducing agents (“DRA”) to the Products is reasonably required to move Refined
Products in the quantities necessary to meet Frontier El Dorado’s schedule or as may
otherwise be required to safely move such quantities of Products, El Dorado Logistics shall provide
Frontier El Dorado with an analysis of the proposed cost and benefits thereof. In the event that
Frontier El Dorado agrees to use such additives as proposed by El Dorado Logistics, Frontier El
Dorado shall reimburse El Dorado Logistics for the costs of adding any additives.

     (g) [Reserved.]

     (h) [Reserved.]

     (i) Notification of Utilization. Upon request by El Dorado Logistics, Frontier El
Dorado will provide to El Dorado Logistics written notification of Frontier El Dorado’s reasonable
good faith estimate of their anticipated future utilization of the El Dorado Assets as soon as
reasonably practicable after receiving such request.

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     (j) Scheduling and Accepting Movement. El Dorado Logistics will use its reasonable
commercial efforts to schedule movement and accept movements of Crude Oil and Products in a manner
that is consistent with the historical dealings between the Parties, as such dealings may change
from time to time.

     (k) Taxes. Frontier El Dorado will pay all taxes, import duties, license fees and
other charges by any Governmental Authority levied on or with respect to the Crude Oil and Products
handled by Frontier El Dorado for transportation, storage or loading by El Dorado Logistics.
Should any Party be required to pay or collect any taxes, duties, charges and or assessments
pursuant to any Applicable Law or authority now in effect or hereafter to become effective which
are payable by the any other Party pursuant to this Section 2(k) the proper Party shall
promptly reimburse the other Party therefor.

     (l) Timing of Payments. Frontier El Dorado will make payments to El Dorado Logistics
by electronic payment with immediately available funds on a monthly basis during the Term with
respect to services rendered or reimbursable costs or expenses incurred by El Dorado Logistics
under this Agreement in the prior month. Payments not received by El Dorado Logistics on or prior
to the applicable payment date will accrue interest at the Prime Rate from the applicable payment
date until paid.

     (m) Increases in Tariff Rates as a Result of Changes in Applicable Law.

     (i) If new Applicable Laws are enacted that require El Dorado Logistics to make capital
expenditures with respect to the El Dorado Assets, El Dorado Logistics may amend the
Pipeline Delivery Base Tariff, Tankage Base Tariff, and Loading Rack Tariff, as applicable,
in order to recover El Dorado Logistics’ cost of complying with these Applicable Laws (as
determined in good faith and including a reasonable return); provided,
however, that El Dorado Logistics may not amend the Pipeline Delivery Base Tariff,
Tankage Base Tariff, or Loading Rack Tariff pursuant to this Section 2(m) unless and
until El Dorado Logistics has made capital expenditures of $1,000,000.00 in the aggregate
with respect to the El Dorado Assets in order to comply with such new Applicable Laws. For
the avoidance of doubt, once such capital expenditures made by El Dorado Logistics exceed
$1,000,000.00, El Dorado Logistics may amend the Pipeline Delivery Base Tariff, Tankage Base
Tariff, or Loading Rack Tariff to recover its full cost of complying with such Applicable
Laws and such recovery shall not be limited to amounts in excess of $1,000,000.

     (ii) Frontier El Dorado, on one hand and El Dorado Logistics, on the other hand, shall
use their reasonable commercial efforts to comply with new Applicable Laws, and shall
negotiate in good faith to mitigate the impact of new Applicable Laws and to determine the
amount of the new tariff rates. If Frontier El Dorado and El Dorado Logistics are unable to
agree on the amount of the new tariff rates that El Dorado Logistics will charge, such
tariff rates will be determined by binding arbitration in accordance with Section
13(e). Any applicable exhibit or schedule to this Agreement will be updated, amended or
revised, as applicable, in accordance with this Agreement to reflect any changes in tariff
rates agreed to in accordance with this Section 2(m).

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     (n) Reimbursement of Operating Expenses.

     (i) At the end of the first four (4) complete Contract Quarters following the Closing
Date, El Dorado Logistics shall calculate the aggregate operating expenses incurred in the
operation of the El Dorado Assets during that twelve-month period (but such calculation
shall not include extraordinary and non-recurring items of expense that are not reasonably
expected to recur in future periods during the Term). In the event that such aggregate
operating expenses exceed the Assumed OPEX, (A) Frontier El Dorado shall reimburse El Dorado
Logistics for such operating expenses incurred in excess of the Assumed OPEX, and (B) El
Dorado Logistics shall increase the Tankage Base Tariff by the amount necessary to increase
the Minimum Tankage Revenue Commitment by an amount equal to the unreimbursed portion of
such aggregate operating expenses in excess of the Assumed OPEX for the remainder of the
Term, and the Parties shall execute an amended, modified, revised or updated Schedule
II reflecting such aggregate operating expenses as the new Assumed OPEX. In the event
that such aggregate operating expenses are less than the Assumed OPEX, El Dorado Logistics
shall decrease the Tankage Base Tariff by the amount necessary to decrease the Minimum
Tankage Revenue Commitment by an amount equal to the difference between the Assumed OPEX and
such actual operating expenses for the remainder of the Term, and the Parties shall execute
an amended, modified, revised or updated Schedule II reflecting such aggregate
operating expenses as the new Assumed OPEX. In the event that the PPI increase for any
given year is greater than seven percent (7%), then, in addition to any other applicable
increases during such year, El Dorado Logistics shall increase the Tankage Base Tariff by an
additional amount necessary to increase the Minimum Tankage Revenue Commitment by the OPEX
Recovery Amount. Such OPEX Recovery Amount shall be added to the then-current Assumed OPEX,
and the Parties shall execute an amended, modified, revised or updated Schedule IV
reflecting the addition of such OPEX Recovery Amount to the Assumed OPEX.

     (o) Tank Inspection and Repairs. Frontier El Dorado will reimburse El Dorado
Logistics for the cost of performing the first API 653 inspection on each of the respective tanks
included in the Tankage and any repairs or tests or consequential remediation that may be required
to be made to such assets as a result of any discovery made during such inspection; provided,
however, that if a tank is two (2) years old or less or has been inspected and repaired during
the last twelve months prior to the Closing Date, then El Dorado Logistics will bear the cost of
any API 653 inspection and any required repair, testing or consequential remediation of such tank.
In addition, El Dorado Logistics will be responsible for the costs of painting any tanks included
in the Tankage that require it.

     (p) Removal of Tank from Service. The Parties agree that if they mutually determine
to remove a tank included in the Tankage from service, then El Dorado Logistics will not be
required to utilize, operate or maintain such tank or provide the services required under this
Agreement with respect to such tank (and there will be no adjustment to the Minimum Tankage Revenue
Commitment).

     (q) Notice of Violation under Environmental Permits; RCRA Order. The Parties agree
that, because El Dorado Logistics or one of its Affiliates is operating certain assets at the

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Refinery pursuant to permits, licenses, registrations or other operating authorizations
(collectively, “Environmental Permits”) issued to HollyFrontier or one of its Affiliates
under Environmental Laws, in the event that HollyFrontier or one of such Affiliates receives a
notice of violation or enforcement action from the U.S. Environmental Protection Agency or a state
agency alleging non-compliance with such Environmental Permits, and such non-compliance relates to
the El Dorado Assets, then El Dorado Logistics (and not HollyFrontier or its Affiliates), will be
responsible for responding to any such notice of violation or enforcement action. The applicable
HollyFrontier Entity shall have the right, but not the duty, to be fully informed and to
participate in the prosecution and/or settlement of any notice of violation or enforcement action
relating to the El Dorado Assets. Additionally, the Parties Agree that Frontier El Dorado will
retain responsibility for complying with the terms of the RCRA Order, including all obligations
that apply or relate to the El Dorado Assets. The Parties acknowledge that any costs, penalties,
fines or losses associated with responses to any notices of violation or enforcement action under
any such Environmental Permits or the RCRA Order may be the subject of indemnification under the
Omnibus Agreement (and nothing in this Section 2(q) shall be deemed to change, amend or
expand the Parties’ obligations under such Omnibus Agreement provisions other than with regard to
the obligation to respond to such notice of violation or enforcement). El Dorado Logistics will
and will cause its Affiliates to cooperate with and support Frontier El Dorado and its Affiliates
in satisfying any applicable compliance and reporting obligations under the RCRA Order or
Environmental Permits as they relate to the El Dorado Assets and does hereby authorize Frontier El
Dorado to submit all reports, certifications and other compliance related submissions on its behalf
in satisfaction of such compliance and reporting obligations. El Dorado Logistics confirms that it
has received a copy of the RCRA Order. The Parties agree that, if, as a result of future
circumstances or construction, it becomes necessary for the Parties to obtain additional
Environmental Permits that relate to assets that will be located at the Refinery but owned by an
HEP Entity, and the Parties agree that such Environmental Permit shall be held by or in the name of
a HollyFrontier Entity, then such Environmental Permit shall be subject to the provisions of this
Section 2(q) to the same extent as if the assets to which such Environmental Permits relate
were El Dorado Assets.

     (r) Tank Inspection and Maintenance Plan. At least annually, El Dorado Logistics
shall prepare and submit to Frontier El Dorado a tank inspection and maintenance plan (which shall
include an inspection plan, a cleaning plan, a waste disposal plan, details regarding scheduling
and a budget) for the Tankage. If Frontier El Dorado consents to the submitted plan (which consent
shall not be unreasonably withheld or delayed), then El Dorado Logistics shall conduct tank
maintenance in conformity with such approved tank maintenance plan (other than any deviations or
changes from such plan to which Frontier El Dorado consents (which consent shall not be
unreasonably withheld, conditioned or delayed)). El Dorado Logistics will use its commercially
reasonable efforts to schedule the activities under such maintenance plan to minimize disruptions
to the operations of Frontier El Dorado at the Refinery.

     Section 3. Agreement to Remain Shipper

     With respect to any Crude Oil or Products that are transported, stored or handled in
connection with any of the El Dorado Assets, Frontier El Dorado agrees that Frontier El Dorado or
another HollyFrontier Entity will continue acting in the capacity of the shipper of any such

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Crude Oil or Products for its own account at all times that such Crude Oil or Products are
being transported, stored or handled in such El Dorado Assets.

     Section 4. Notification of Shut-down or Reconfiguration; Force Majeure

     (a) Frontier El Dorado must deliver to El Dorado Logistics at least six months advance written
notice of any planned shut down or reconfiguration (excluding planned maintenance turnarounds) of
the Refinery or any portion of the Refinery that would reduce the Refinery’s output. Frontier El
Dorado will use its commercially reasonable efforts to mitigate any reduction in revenues or
throughput obligations under this Agreement that would result from such a shut down or
reconfiguration.

     (b) If Frontier El Dorado shuts down or reconfigures the Refinery or any portion of the
Refinery (excluding planned maintenance turnarounds) and reasonably believes in good faith that
such shut down or reconfiguration will jeopardize its ability to satisfy its Minimum Pipeline
Delivery Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum Loading Rack Revenue
Commitment under this Agreement, then within 90 days of the delivery of the written notice of the
planned shut down or reconfiguration, Frontier El Dorado shall (A) propose a new Minimum Pipeline
Delivery Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum Loading Rack Revenue
Commitment under this Agreement, as applicable, such that the ratio of the new Minimum Pipeline
Delivery Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum Loading Rack Revenue
Commitment, as the case may be, under this Agreement over the anticipated production level
following the shut down or reconfiguration will be approximately equal to the ratio of the original
Minimum Pipeline Delivery Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum
Loading Rack Revenue Commitment under this Agreement over the original production level and (B)
propose the date on which the new Minimum Pipeline Delivery Revenue Commitment, Minimum Tankage
Revenue Commitment, or Minimum Loading Rack Revenue Commitment under this Agreement shall take
effect. Unless objected to by El Dorado Logistics within 60 days of receipt by El Dorado Logistics
of such proposal, such new Minimum Pipeline Delivery Revenue Commitment, Minimum Tankage Revenue
Commitment, or Minimum Loading Rack Revenue Commitment under this Agreement shall become effective
as of the date proposed by Frontier El Dorado. To the extent that El Dorado Logistics does not
agree with Frontier El Dorado’s proposal, any changes in Frontier El Dorado’s obligations under
this Agreement, or the date on which such changes will take effect, will be determined by binding
arbitration in accordance with Section 13(e). Any applicable exhibit or schedule to this
Agreement will be updated, amended or revised, as applicable, in accordance with this Agreement to
reflect any change in the Minimum Pipeline Delivery Revenue Commitment, Minimum Tankage Revenue
Commitment, or Minimum Loading Rack Revenue Commitment under this Agreement agreed to in accordance
with this Section 4(b).

     (c) In the event that any Party is rendered unable, wholly or in part, by a Force Majeure
event from performing its obligations under this Agreement for a period of more than thirty (30)
consecutive days, then, upon the delivery of notice and full particulars of the Force Majeure event
in writing within a reasonable time after the occurrence of the Force Majeure event relied on
(“Force Majeure Notice”), the obligations of the Parties, so far as they are affected by
the Force Majeure event, shall be suspended for the duration of any inability so

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caused. Any suspension of the obligations of the Parties as a result of this Section
4(c) shall extend the Term (to the extent so affected) for a period equivalent to the duration
of the inability set forth in the Force Majeure Notice. Frontier El Dorado will be required to pay
any amounts accrued and due under this Agreement at the time of the Force Majeure event. The cause
of the Force Majeure event shall so far as possible be remedied with all reasonable dispatch,
except that no Party shall be compelled to resolve any strikes, lockouts or other industrial
disputes other than as it shall determine to be in its best interests. In the event a Force
Majeure event prevents El Dorado Logistics or Frontier El Dorado from performing substantially all
of their respective obligations under this Agreement for a period of more than one (1) year, this
Agreement may be terminated by El Dorado Logistics or Frontier El Dorado, by providing written
notice thereof to the other Parties.

     Section 5. [Reserved.]

     Section 6. Effectiveness and Term

     This Agreement shall be effective as of the Effective Time, and shall terminate at 12:01 a.m.
Dallas, Texas, time on October 31, 2026, unless extended by written mutual agreement of the Parties
or as set forth in Section 7 (the “Term). The Party(ies) desiring to extend this
Agreement pursuant to this Section 6 shall provide prior written notice to the other
Parties of its desire to so extend this Agreement; such written notice shall be provided not more
than twenty-four (24) months and not less than the later of twelve (12) months prior to the date of
termination or ten (10) days after receipt of a written request from another Party (which request
may be delivered no earlier than twelve (12) months prior to the date of termination) to provide
any such notice or lose such right.

     Section 7. Right to Enter into a New Agreement

     (a) In the event that Frontier El Dorado provides prior written notice to El Dorado Logistics
of the desire of Frontier El Dorado to extend this Agreement by written mutual agreement of the
Parties, the Parties shall negotiate in good faith to extend this Agreement by written mutual
agreement, but, if such negotiations fail to produce a written mutual agreement for extension by a
date six months prior to the termination date, then El Dorado Logistics shall have the right to
negotiate to enter into one or more pipeline delivery, tankage and loading agreements with one or
more third parties to begin after the date of termination; provided, however, that until
the end of one year following termination without renewal of this Agreement, Frontier El Dorado
will have the right to enter into a new pipeline delivery, tankage and loading agreement with El
Dorado Logistics on commercial terms that substantially match the terms upon which El Dorado
Logistics proposes to enter into an agreement with a third party for similar services with respect
to all or a material portion of the El Dorado Assets. In such circumstances, El Dorado Logistics
shall give Frontier El Dorado forty-five (45) days prior written notice of any proposed new
pipeline delivery, tankage and loading agreement with a third party, and such notice shall inform
Frontier El Dorado of the fee schedules, tariffs, duration and any other terms of the proposed
third party agreement and Frontier El Dorado shall have forty-five (45) days following receipt of
such notice to agree to the terms specified in the notice or

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Frontier El Dorado shall lose the rights specified by this Section 7(a) with respect
to the assets that are the subject of such notice.

     (b) In the event that Frontier El Dorado fails to provide prior written notice to El Dorado
Logistics of the desire of Frontier El Dorado to extend this Agreement by written mutual agreement
of the Parties pursuant to Section 6, El Dorado Logistics shall have the right, during the
period from the date of Frontier El Dorado’s failure to provide written notice pursuant to
Section 6 to the date of termination of this Agreement, to negotiate to enter into a new
pipeline delivery, tankage and loading agreement with a third party; provided, however,
that at any time during the twelve (12) months prior to the expiration of the Term, Frontier El
Dorado will have the right to enter into a new pipeline delivery, tankage and loading agreement
with El Dorado Logistics on commercial terms that substantially match the terms upon which El
Dorado Logistics proposes to enter into an agreement with a third party for similar services with
respect to all or a material portion of the El Dorado Assets. In such circumstances, El Dorado
Logistics shall give Frontier El Dorado forty-five (45) days prior written notice of any proposed
new pipeline delivery, tankage and loading agreement with a third party, and such notice shall
inform Frontier El Dorado of the fee schedules, tariffs, duration and any other terms of the
proposed third party agreement and Frontier El Dorado shall have forty-five (45) days following
receipt of such notice to agree to the terms specified in the notice or Frontier El Dorado shall
lose the rights specified by this Section 7(b) with respect to the assets that are the
subject of such notice.

     Section 8. Notices

     (a) Any notice or other communication given under this Agreement shall be in writing and shall
be (i) delivered personally, (ii) sent by documented overnight delivery service, (iii) sent by
email transmission, or (iv) sent by first class mail, postage prepaid (certified or registered
mail, return receipt requested). Such notice shall be deemed to have been duly given (x) if
received, on the date of the delivery, with a receipt for delivery, (y) if refused, on the date of
the refused delivery, with a receipt for refusal, or (z) with respect to email transmissions, on
the date the recipient confirms receipt. Notices or other communications shall be directed to the
following addresses:

          Notices to Frontier El Dorado:

c/o HollyFrontier Corporation

2828 N. Harwood, Suite 1300

Dallas, Texas 75201

Attn: David L. Lamp

Email address: president@hollyfrontier.com

with a copy, which shall not constitute notice, but is required in order to

giver proper notice, to:

c/o HollyFrontier Corporation

2828 N. Harwood, Suite 1300

Dallas, Texas 75201

Attn: General Counsel

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Email
address: generalcounsel@hollyfrontier.com

          Notices to El Dorado Logistics:

c/o Holly Energy Partners, L.P.

2828 N. Harwood, Suite 1300

Dallas, TX 75201

Attn: Matthew P. Clifton

Email address: president@hollyenergy.com

with a copy, which shall not constitute notice, but is required in order to

give proper notice, to:

c/o Holly Energy Partners, L.P.

2828 N. Harwood, Suite 1300

Dallas, Texas 75201

Attn: General Counsel

Email address: generalcounsel@hollyenergy.com

     (b) Any Party may at any time change its address for service from time to time by giving
notice to the other Parties in accordance with this Section 8.

     Section 9. Deficiency Payments

     (a) As soon as practicable following the end of each Contract Quarter under this Agreement, El
Dorado Logistics shall deliver to Frontier El Dorado a written notice (the “Deficiency
Notice”) detailing any failure of Frontier El Dorado to meet its minimum revenue commitment
obligations under Section 2(a)(i), Section 2(b)(i), or Section 2(c)(i);
provided, however, that Frontier El Dorado’s obligations pursuant to the Minimum
Pipeline Delivery Revenue Commitment, Minimum Tankage Revenue Commitment, and the Minimum Loading
Rack Revenue Commitment shall, in each case, be assessed on a quarterly basis for the purposes of
this Section 9. Notwithstanding the previous sentence, any deficiency owed by Frontier El
Dorado due to its failure to satisfy the Minimum Pipeline Delivery Revenue Commitment, Minimum
Tankage Revenue Commitment, or Minimum Loading Rack Revenue Commitment in any Contract Quarter
shall be offset by any revenue owed to El Dorado Logistics in excess of the Minimum Pipeline
Delivery Revenue Commitment, Minimum Tankage Revenue Commitment, or Minimum Loading Rack Revenue
Commitment for such Contract Quarter. The Deficiency Notice shall (A) specify in reasonable detail
the nature of any deficiency and (B) specify the approximate dollar amount that El Dorado Logistics
believes would have been paid by Frontier El Dorado to El Dorado Logistics if Frontier El Dorado
had complied with its minimum revenue commitment obligations pursuant to Section 2(a)(i),
Section 2(b)(i), or Section 2(c)(i), as applicable (the “Deficiency
Payment”). Frontier El Dorado shall pay the Deficiency Payment to El Dorado Logistics upon the
later of: (1) ten (10) days after their receipt of the Deficiency Notice and (2) thirty (30) days
following the end of the related Contract Quarter.

     (b) If Frontier El Dorado disagrees with any Deficiency Notice (the “Disputed Deficiency
Notice”), then, following the payment of the undisputed portion of the deficiency

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payment related to the Disputed Deficiency Notice (the “Disputed Deficiency Payment”)
to El Dorado Logistics, if any, Frontier El Dorado shall send written notice thereof regarding the
disputed portion of the Disputed Deficiency Notice to El Dorado Logistics, and a senior officer of
HollyFrontier (on behalf of Frontier El Dorado) and a senior officer of the Partnership (on behalf
of El Dorado Logistics) shall meet or communicate by telephone at a mutually acceptable time and
place, and thereafter as often as they reasonably deem necessary and shall negotiate in good faith
to attempt to resolve any differences that they may have with respect to matters specified in the
Disputed Deficiency Notice. During the 30-day period following the receipt of the Disputed
Deficiency Notice, Frontier El Dorado shall have access to the working papers of El Dorado
Logistics relating to the Disputed Deficiency Notice. If such differences are not resolved within
thirty (30) days following Frontier El Dorado’s receipt of the Disputed Deficiency Notice, Frontier
El Dorado, on the one hand, and El Dorado Logistics, on the other hand, shall, within forty-five
(45) days following Frontier El Dorado’s receipt of the Disputed Deficiency Notice, submit any and
all matters which remain in dispute and which were properly included in the Disputed Deficiency
Notice to arbitration in accordance with Section 13(e).

     (c) If it is finally determined pursuant to this Section 9 that Frontier El Dorado is
required to pay any or all of the disputed portion of the Disputed Deficiency Payment, Frontier El
Dorado shall promptly pay such amount to El Dorado Logistics, as applicable, together with interest
thereon at the Prime Rate, in immediately available funds.

     (d) The Parties acknowledge and agree that there shall be no carry-over of deficiency payments
beyond each Contract Quarter provided for in Section 9(a) with respect to the Minimum
Pipeline Delivery Revenue Commitment, the Minimum Tankage Revenue Commitment or the Minimum Loading
Rack Revenue Commitment.

     Section 10. Indemnification. The Parties acknowledge the indemnification
obligations between the Parties and their Affiliates with respect to the El Dorado Assets provided
in the Omnibus Agreement.

     Section 11. Right of First Refusal. The Parties acknowledge the right of
first refusal of Frontier El Dorado with respect to the El Dorado Assets provided in the Omnibus
Agreement.

     Section 12. Limitation of Damages.

     (a) NOTWITHSTANDING ANYTHING CONTAINED TO THE CONTRARY IN ANY OTHER PROVISION OF THIS
AGREEMENT AND EXCEPT FOR CLAIMS MADE BY THIRD PARTIES WHICH SHALL NOT BE LIMITED BY THIS PARAGRAPH,
THE PARTIES AGREE THAT THE RECOVERY BY ANY PARTY OF ANY LIABILITIES, DAMAGES, COSTS OR OTHER
EXPENSES SUFFERED OR INCURRED BY IT AS A RESULT OF ANY BREACH OR NONFULFILLMENT BY A PARTY OF ANY
OF ITS REPRESENTATIONS, WARRANTIES, COVENANTS, AGREEMENTS OR OTHER OBLIGATIONS UNDER THIS
AGREEMENT, SHALL BE LIMITED TO ACTUAL DAMAGES AND SHALL NOT INCLUDE OR APPLY TO, NOR SHALL ANY
PARTY BE ENTITLED TO RECOVER, ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES
(INCLUDING, WITHOUT LIMITATION, ANY DAMAGES ON ACCOUNT OF LOST PROFITS OR OPPORTUNITIES OR BUSINESS
INTERRUPTION OR

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DIMINUTION IN VALUE) SUFFERED OR INCURRED BY ANY PARTY; PROVIDED, HOWEVER,
THAT SUCH RESTRICTION AND LIMITATION SHALL NOT APPLY (x) AS A RESULT OF A THIRD PARTY CLAIM FOR
SUCH INDIRECT, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES OR (y) TO INDIRECT, CONSEQUENTIAL,
EXEMPLARY OR PUNITIVE DAMAGES (INCLUDING, WITHOUT LIMITATION, ANY DAMAGES ON ACCOUNT OF LOST
PROFITS OR OPPORTUNITIES OR BUSINESS INTERRUPTION OR DIMINUTION IN VALUE) THAT ARE A RESULT OF THE
GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF THE BREACHING OR NONFULFILLING PARTY OR ITS AFFILIATES.

     Section 13. Miscellaneous

     (a) Amendments and Waivers. No amendment or modification of this Agreement shall be
valid unless it is in writing and signed by the Parties. No waiver of any provision of this
Agreement shall be valid unless it is in writing and signed by the Party against whom the waiver is
sought to be enforced. Any of the exhibits or schedules to this Agreement may be amended,
modified, revised or updated by the Parties if each of the Parties executes an amended, modified,
revised or updated exhibit or schedule, as applicable, and attaches it to this Agreement. Such
amended, modified, revised or updated exhibits or schedules shall be sequentially numbered (e.g.
Schedule I-1, Schedule I-2, etc.), dated and appended as an additional exhibit or schedule to this
Agreement and shall replace the prior exhibit or schedule, as applicable, in its entirety after its
date of effectiveness, except as specified therein. No failure or delay in exercising any right
hereunder, and no course of conduct, shall operate as a waiver of any provision of this Agreement.
No single or partial exercise of a right hereunder shall preclude further or complete exercise of
that right or any other right hereunder.

     (b) Successors and Assigns. This Agreement shall inure to the benefit of, and shall
be binding upon, Frontier El Dorado, El Dorado Logistics, and their respective successors and
permitted assigns. Neither this Agreement nor any of the rights or obligations hereunder shall be
assigned without the prior written consent of Frontier El Dorado (in the case of any assignment by
El Dorado Logistics) or El Dorado Logistics (in the case of any assignment by Frontier El Dorado),
in each case, such consent is not to be unreasonably withheld or delayed; provided,
however, that (i) El Dorado Logistics may make such an assignment (including a partial pro rata
assignment) to an Affiliate of El Dorado Logistics without Frontier El Dorado’s consent, (ii)
Frontier El Dorado may make such an assignment (including a pro rata partial assignment) to an
Affiliate of Frontier El Dorado without El Dorado Logistics’ consent, (iii) Frontier El Dorado may
make a collateral assignment of its rights and obligations hereunder, and (iv) El Dorado Logistics
may make a collateral assignment of its rights hereunder and/or grant a security interest in all or
a portion of the El Dorado Assets to a bona fide third party lender or debt holder, or trustee or
representative for any of them, without Frontier El Dorado’s consent, if such third party lender,
debt holder or trustee shall have executed and delivered to Frontier El Dorado a non-disturbance
agreement in such form as is reasonably satisfactory to Frontier El Dorado and such third party
lender, debt holder or trustee and Frontier El Dorado executes an acknowledgement of such
collateral assignment in such form as may from time to time be reasonably requested. Any attempt
to make an assignment otherwise than as permitted by the foregoing shall be null and void. The
Parties agree to require their respective successors, if any,

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to expressly assume, in a form of agreement reasonably acceptable to the other Parties, their
obligations under this Agreement.

     (c) Severability. If any provision of this Agreement shall be held invalid or
unenforceable by a court or regulatory body of competent jurisdiction, the remainder of this
Agreement shall remain in full force and effect.

     (d) Choice of Law. This Agreement shall be subject to and governed by the laws of the
State of Delaware, excluding any conflicts-of-law rule or principle that might refer the
construction or interpretation of this Agreement to the laws of another state.

     (e) Arbitration Provision. Any and all Arbitrable Disputes must be resolved through
the use of binding arbitration using three arbitrators, in accordance with the Commercial
Arbitration Rules of the American Arbitration Association, as supplemented to the extent necessary
to determine any procedural appeal questions by the Federal Arbitration Act (Title 9 of the United
States Code). If there is any inconsistency between this Section 13(e) and the Commercial
Arbitration Rules or the Federal Arbitration Act, the terms of this Section 13(e) will
control the rights and obligations of the Parties. Arbitration must be initiated within the time
limits set forth in this Agreement, or if no such limits apply, then within a reasonable time or
the time period allowed by the applicable statute of limitations. Arbitration may be initiated by
a Party (“Claimant”) serving written notice on the other Party (“Respondent”) that
the Claimant elects to refer the Arbitrable Dispute to binding arbitration. Claimant’s notice
initiating binding arbitration must identify the arbitrator Claimant has appointed. The Respondent
shall respond to Claimant within thirty (30) days after receipt of Claimant’s notice, identifying
the arbitrator Respondent has appointed. If the Respondent fails for any reason to name an
arbitrator within the 30-day period, Claimant shall petition the American Arbitration Association
for appointment of an arbitrator for Respondent’s account. The two arbitrators so chosen shall
select a third arbitrator within thirty (30) days after the second arbitrator has been appointed.
The Claimant will pay the compensation and expenses of the arbitrator named by it, and the
Respondent will pay the compensation and expenses of the arbitrator named by or for it. The costs
of petitioning for the appointment of an arbitrator, if any, shall be paid by Respondent. The
Claimant and Respondent will each pay one-half of the compensation and expenses of the third
arbitrator. All arbitrators must (i) be neutral parties who have never been officers, directors or
employees of any of Frontier El Dorado, El Dorado Logistics, or any of their Affiliates and (ii)
have not less than seven (7) years experience in the petroleum transportation industry. The
hearing will be conducted in Dallas, Texas and commence within thirty (30) days after the selection
of the third arbitrator. Frontier El Dorado, El Dorado Logistics, and the arbitrators shall
proceed diligently and in good faith in order that the award may be made as promptly as possible.
Except as provided in the Federal Arbitration Act, the decision of the arbitrators will be binding
on and non-appealable by the Parties hereto. The arbitrators shall have no right to grant or award
indirect, consequential, punitive or exemplary damages of any kind. The Arbitrable Disputes may be
arbitrated in a common proceeding along with disputes under other agreements between Frontier El
Dorado, El Dorado Logistics, or their Affiliates to the extent that the issues raised in such
disputes are related. Without the written consent of the Parties, no unrelated disputes or third
party disputes may be joined to an arbitration pursuant to this Agreement.

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     (f) Rights of Limited Partners. The provisions of this Agreement are enforceable
solely by the Parties, and no limited partner of the Partnership shall have the right, separate and
apart from the Partnership, to enforce any provision of this Agreement or to compel any Party to
comply with the terms of this Agreement.

     (g) Further Assurances. In connection with this Agreement and all transactions
contemplated by this Agreement, each signatory Party hereto agrees to execute and deliver such
additional documents and instruments and to perform such additional acts as may be necessary or
appropriate to effectuate, carry out and perform all of the terms, provisions and conditions of
this Agreement and all such transactions.

     (h) Headings. Headings of the Sections of this Agreement are for convenience of the
Parties only and shall be given no substantive or interpretative effect whatsoever. All references
in this Agreement to Sections are to Sections of this Agreement unless otherwise stated.

     Section 14. Guarantee by HollyFrontier

     (a) Payment and Performance Guaranty. HollyFrontier unconditionally, absolutely,
continually and irrevocably guarantees, as principal and not as surety, to El Dorado Logistics the
punctual and complete payment in full when due of all amounts due from Frontier El Dorado under the
Agreement (collectively, the “Frontier El Dorado Payment Obligations”). HollyFrontier
agrees that El Dorado Logistics shall be entitled to enforce directly against HollyFrontier any of
the Frontier El Dorado Payment Obligations.

     (b) Guaranty Absolute. HollyFrontier hereby guarantees that the Frontier El Dorado
Payment Obligations will be paid strictly in accordance with the terms of the Agreement. The
obligations of HollyFrontier under this Agreement constitute a present and continuing guaranty of
payment, and not of collection or collectability. The liability of HollyFrontier under this
Agreement shall be absolute, unconditional, present, continuing and irrevocable irrespective of:

     (i) any assignment or other transfer of the Agreement or any of the rights thereunder
of El Dorado Logistics;

     (ii) any amendment, waiver, renewal, extension or release of or any consent to or
departure from or other action or inaction related to the Agreement;

     (iii) any acceptance by El Dorado Logistics of partial payment or performance from
Frontier El Dorado;

     (iv) any bankruptcy, insolvency, reorganization, arrangement, composition, adjustment,
dissolution, liquidation or other like proceeding relating to El Dorado Logistics or any
action taken with respect to the Agreement by any trustee or receiver, or by any court, in
any such proceeding;

     (v) any absence of any notice to, or knowledge of, HollyFrontier, of the existence or
occurrence of any of the matters or events set forth in the foregoing subsections (i)
through (iv); or

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     (vi) any other circumstance which might otherwise constitute a defense available to, or
a discharge of, a guarantor.

     The obligations of HollyFrontier hereunder shall not be subject to any reduction, limitation,
impairment or termination for any reason, including any claim of waiver, release, surrender,
alteration or compromise, and shall not be subject to any defense or setoff, counterclaim,
recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of
the Frontier El Dorado Payment Obligations or otherwise.

     (c) Waiver. HollyFrontier hereby waives promptness, diligence, all setoffs,
presentments, protests and notice of acceptance and any other notice relating to any of the
Frontier El Dorado Payment Obligations and any requirement for El Dorado Logistics to protect,
secure, perfect or insure any security interest or lien or any property subject thereto or exhaust
any right or take any action against Frontier El Dorado, any other entity or any collateral.

     (d) Subrogation Waiver. HollyFrontier agrees that for so long as there is a current
or ongoing default or breach of this Agreement by Frontier El Dorado, HollyFrontier shall not have
any rights (direct or indirect) of subrogation, contribution, reimbursement, indemnification or
other rights of payment or recovery from Frontier El Dorado for any payments made by HollyFrontier
under this Section 14, and HollyFrontier hereby irrevocably waives and releases, absolutely
and unconditionally, any such rights of subrogation, contribution, reimbursement, indemnification
and other rights of payment or recovery it may now have or hereafter acquire against Frontier El
Dorado during any period of default or breach of this Agreement by Frontier El Dorado until such
time as there is no current or ongoing default or breach of this Agreement by Frontier El Dorado.

     (e) Reinstatement. The obligations of HollyFrontier under this Section 14
shall continue to be effective or shall be reinstated, as the case may be, if at any time any
payment of any of the Frontier El Dorado Payment Obligations is rescinded or must otherwise be
returned to Frontier El Dorado or any other entity, upon the insolvency, bankruptcy, arrangement,
adjustment, composition, liquidation or reorganization of Frontier El Dorado or such other entity,
or for any other reason, all as though such payment had not been made.

     (f) Continuing Guaranty. This Section 14 is a continuing guaranty and shall
(i) remain in full force and effect until the first to occur of the indefeasible payment in full of
all of the Frontier El Dorado Payment Obligations, (ii) be binding upon HollyFrontier, its
successors, transferees and assigns and (iii) inure to the benefit of and be enforceable by El
Dorado Logistics and its successors, transferees and assigns.

     (g) No Duty to Pursue Others. It shall not be necessary for El Dorado Logistics (and
HollyFrontier hereby waives any rights which HollyFrontier may have to require El Dorado
Logistics), in order to enforce such payment by HollyFrontier, first to (i) institute suit or
exhaust its remedies against Frontier El Dorado or others liable on the Frontier El Dorado Payment
Obligations or any other person, (ii) enforce El Dorado Logistics’ rights against any other
guarantors of the Frontier El Dorado Payment Obligations, (iii) join Frontier El Dorado or any
others liable on the Frontier El Dorado Payment Obligations in any action seeking to enforce this
Section 14, (iv) exhaust any remedies available to El Dorado Logistics against any security

Pipeline Delivery, Tankage and Loading Rack Throughput Agreement (El Dorado)

22

 

which shall ever have been given to secure the Frontier El Dorado Payment Obligations, or (v)
resort to any other means of obtaining payment of the Frontier El Dorado Payment Obligations.

     Section 15. Guarantee by the Partnership and Operating Partnership.

     (a) Payment and Performance Guaranty. Each of the Partnership and the Operating
Partnership unconditionally, absolutely, continually and irrevocably guarantees, as principal and
not as surety, to Frontier El Dorado the punctual and complete payment in full when due of all
amounts due from El Dorado Logistics under the Agreement (collectively, the “El Dorado
Logistics Payment Obligations”). Each of the Partnership and the Operating Partnership agrees
that Frontier El Dorado shall be entitled to enforce directly against the Partnership and the
Operating Partnership any of the El Dorado Logistics Payment Obligations.

     (b) Guaranty Absolute. Each of the Partnership and the Operating Partnership hereby
guarantees that the El Dorado Logistics Payment Obligations will be paid strictly in accordance
with the terms of the Agreement. The obligations of each of the Partnership and the Operating
Partnership under this Agreement constitute a present and continuing guaranty of payment, and not
of collection or collectability. The liability of each of the Partnership and the Operating
Partnership under this Agreement shall be absolute, unconditional, present, continuing and
irrevocable irrespective of:

     (i) any assignment or other transfer of the Agreement or any of the rights thereunder
of Frontier El Dorado;

     (ii) any amendment, waiver, renewal, extension or release of or any consent to or
departure from or other action or inaction related to the Agreement;

     (iii) any acceptance by Frontier El Dorado of partial payment or performance from El
Dorado Logistics;

     (iv) any bankruptcy, insolvency, reorganization, arrangement, composition, adjustment,
dissolution, liquidation or other like proceeding relating to Frontier El Dorado or any
action taken with respect to the Agreement by any trustee or receiver, or by any court, in
any such proceeding;

     (v) any absence of any notice to, or knowledge of, the Partnership or the Operating
Partnership, of the existence or occurrence of any of the matters or events set forth in the
foregoing subsections (i) through (iv); or

     (vi) any other circumstance which might otherwise constitute a defense available to, or
a discharge of, a guarantor.

     The obligations of each of the Partnership and the Operating Partnership hereunder shall not
be subject to any reduction, limitation, impairment or termination for any reason, including any
claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any
defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity,
illegality or unenforceability of the El Dorado Logistics Payment Obligations or otherwise.

Pipeline Delivery, Tankage and Loading Rack Throughput Agreement (El Dorado)

23

 

     (c) Waiver. Each of the Partnership and the Operating Partnership hereby waives
promptness, diligence, all setoffs, presentments, protests and notice of acceptance and any other
notice relating to any of the El Dorado Logistics Payment Obligations and any requirement for
Frontier El Dorado to protect, secure, perfect or insure any security interest or lien or any
property subject thereto or exhaust any right or take any action against El Dorado Logistics, any
other entity or any collateral.

     (d) Subrogation Waiver. Each of the Partnership and the Operating Partnership agrees
that for so long as there is a current or ongoing default or breach of this Agreement by El Dorado
Logistics, the Partnership and the Operating Partnership shall not have any rights (direct or
indirect) of subrogation, contribution, reimbursement, indemnification or other rights of payment
or recovery from El Dorado Logistics for any payments made by the Partnership or the Operating
Partnership under this Section 15, and each of the Partnership and the Operating
Partnership hereby irrevocably waives and releases, absolutely and unconditionally, any such rights
of subrogation, contribution, reimbursement, indemnification and other rights of payment or
recovery it may now have or hereafter acquire against El Dorado Logistics during any period of
default or breach of this Agreement by El Dorado Logistics until such time as there is no current
or ongoing default or breach of this Agreement by El Dorado Logistics.

     (e) Reinstatement. The obligations of the Partnership and the Operating Partnership
under this Section 15 shall continue to be effective or shall be reinstated, as the case
may be, if at any time any payment of any of the El Dorado Logistics Payment Obligations is
rescinded or must otherwise be returned to El Dorado Logistics or any other entity, upon the
insolvency, bankruptcy, arrangement, adjustment, composition, liquidation or reorganization of El
Dorado Logistics or such other entity, or for any other reason, all as though such payment had not
been made.

     (f) Continuing Guaranty. This Section 15 is a continuing guaranty and shall
(i) remain in full force and effect until the first to occur of the indefeasible payment in full of
all of the El Dorado Logistics Payment Obligations, (ii) be binding upon the Partnership, the
Operating Partnership, and each of their respective successors and assigns and (iii) inure to the
benefit of and be enforceable by Frontier El Dorado and its successors, transferees and assigns.

     (g) No Duty to Pursue Others. It shall not be necessary for Frontier El Dorado (and
each of the Partnership and the Operating Partnership hereby waives any rights which the
Partnership or the Operating Partnership, as applicable, may have to require Frontier El Dorado),
in order to enforce such payment by the Partnership or the Operating Partnership, first to (i)
institute suit or exhaust its remedies against El Dorado Logistics or others liable on the El
Dorado Logistics Payment Obligations or any other person, (ii) enforce Frontier El Dorado’ rights
against any other guarantors of the El Dorado Logistics Payment Obligations, (iii) join El Dorado
Logistics or any others liable on the El Dorado Logistics Payment Obligations in any action seeking
to enforce this Section 15, (iv) exhaust any remedies available to Frontier El Dorado
against any security which shall ever have been given to secure the El Dorado Logistics Payment
Obligations, or (v) resort to any other means of obtaining payment of the El Dorado Logistics
Payment Obligations.

[Remainder of page intentionally left blank. Signature pages follow.]

Pipeline Delivery, Tankage and Loading Rack Throughput Agreement (El Dorado)

24

 

     IN WITNESS WHEREOF, the undersigned Parties have executed this Agreement to be effective as of
the Effective Time.

	 	 	 	 	 	 	 

	 	 	EL DORADO LOGISTICS:	 	 
	 
	 	 	 	 	 	 
	 	 	EL DORADO LOGISTICS LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Mark T. Cunningham
 

	 	 
	 	 	Name: Mark T. Cunningham	 	 
	 	 	Title: Vice President, Operations	 	 
	 
	 	 	 	 	 	 
	 	 	FRONTIER EL DORADO:	 	 
	 
	 	 	 	 	 	 
	 	 	FRONTIER EL DORADO REFINING LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ James M. Stump
 

	 	 
	 	 	Name: James M. Stump	 	 
	 	 	Title: Senior Vice President, Refinery Operations	 	 

	 	 	 	 	 

	ACKNOWLEDGED AND AGREED

FOR PURPOSES OF Section 9(b)

AND Section 14:	 	 
	 
	 	 	 	 
	HOLLYFRONTIER CORPORATION	 	 
	 
	 	 	 	 
	By:

	 	/s/ Douglas S. Aron
 

	 	 
	Name: Douglas S. Aron	 	 
	Title: Executive Vice President
and Chief 

          Financial Officer	 	 

Signature Page 1 of 2

Pipelines, Tankage and Loading Rack Throughput Agreement (El Dorado)

 

 

	 	 	 	 	 

	ACKNOWLEDGED AND AGREED

FOR PURPOSES OF Section 9(b)

AND Section 15:	 	 
	 
	 	 	 	 
	HOLLY ENERGY PARTNERS, L.P.	 	 
	 
	 	 	 	 
	By:

	 	HEP Logistics Holdings, L.P.,

its General Partner	 	 
	 
	 	 	 	 
	By:

	 	Holly Logistic Services, L.L.C.,

its General Partner	 	 
	 
	 	 	 	 
	By:

	 	/s/ Mark T. Cunningham
 

	 	 
	Name: Mark T. Cunningham	 	 
	Title: Vice President, Operations	 	 
	 
	 	 	 	 
	ACKNOWLEDGED AND AGREED

FOR PURPOSES OF Section 15:	 	 
	 
	 	 	 	 
	HOLLY ENERGY PARTNERS-OPERATING, L.P.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Mark T. Cunningham
 

	 	 
	Name: Mark T. Cunningham	 	 
	Title: Vice President, Operations	 	 

Signature Page 2 of 2

Pipelines, Tankage and Loading Rack Throughput Agreement (El Dorado)

 

 

SCHEDULE I

PIPELINE DELIVERY TARIFF

	
Pipeline Delivery

Base Tariff

	$0.1500 per barrel

 

	
Pipeline Delivery

Incentive Tariff

	$0.0700 per barrel

 

Schedule I

 

 

SCHEDULE II

TANKAGE TARIFFS

 
	
Tankage Base Tariff

	$0.4500 per barrel
 

	
Tankage Incentive Tariff

	$0.2000 per barrel

 

Schedule II

 

 

SCHEDULE III

LOADING RACK TARIFF

	
Loading Rack Tariff

	$0.2500 per barrel
 

Schedule III

 

 

SCHEDULE IV

ASSUMED OPEX

 
	
Assumed OPEX

	$3,200,000.00
 

Schedule IV

 

 

EXHIBIT A

LOADING RACKS

The Refined Products Truck Loading Rack and the Propane Truck Loading Rack transferred to El
Dorado Logistics pursuant to that certain Conveyance, Assignment and Bill of Sale (El Dorado),
dated effective as of October 25, 2011, by and between Frontier El Dorado and El Dorado Logistics.

Exhibit A

 

 

EXHIBIT B

TANKAGE

	 	 	 	 	 
	 	 	CURRENT	 	NOMINAL CAPACITY,
	TANK ID NUMBER	 	SERVICE/PRODUCT	 	BBLS
	1
	 	Naptha
	 	2,885
	2
	 	Naptha
	 	2,885
	3
	 	ULSD
	 	38,406
	15
	 	ULSD
	 	12,422
	16
	 	Light Slop
	 	28,880
	17
	 	Gasoline
	 	92,740
	18
	 	Gasoline
	 	88,600
	19
	 	Gasoline
	 	90,733
	20
	 	Finish Gasoline
	 	17,961
	21
	 	ULSD
	 	120,639
	23
	 	ULSD
	 	113,182
	24
	 	ULSD
	 	119,269
	25
	 	Av Jet
	 	65,117
	29
	 	CRU1 Feed
	 	33,723
	30
	 	CRU2 Feed
	 	39,417
	31
	 	ULSD
	 	23,792
	32
	 	Finish Gasoline
	 	74,847
	64
	 	Gasoline
	 	17,961
	65
	 	Gasoline
	 	17,941

Exhibit B

 

 

	 	 	 	 	 
	 	 	CURRENT	 	NOMINAL CAPACITY,
	TANK ID NUMBER	 	SERVICE/PRODUCT	 	BBLS
	66
	 	Naptha
	 	22,582
	75
	 	ULS k
	 	24,938
	78
	 	ULS k
	 	9,226
	127
	 	Heavy Slop
	 	20,504
	132
	 	Sour Distilate
	 	63,672
	133
	 	HTU2 Chg.
	 	24,438
	134
	 	HTU2 Chg.
	 	76,492
	136
	 	HTU4 CHg.
	 	74,689
	137
	 	Gas Oil/Sour diesel
	 	191,599
	138
	 	Gas Oil
	 	193,742
	139
	 	Gas Oil
	 	74,792
	142
	 	Gas Oil
	 	191,563
	143
	 	Gas Oil
	 	191,570
	159
	 	Slurry
	 	9,778
	167
	 	Slurry
	 	8,908
	168
	 	ULSD Dock
	 	22,408
	178
	 	Coke Charge/Swing Tank
	 	80,000
	192
	 	Idled
	 	8,908
	212
	 	Coker Chg.
	 	76,524
	213
	 	Asphalt
	 	77,675
	215
	 	AV Jet
	 	67,529
	216
	 	Alkylate
	 	72,618

Exhibit B

 

 

	 	 	 	 	 
	 	 	CURRENT	 	NOMINAL CAPACITY,
	TANK ID NUMBER	 	SERVICE/PRODUCT	 	BBLS
	218
	 	Gas Oil
	 	77,675
	219
	 	Reformate
	 	71,466
	220
	 	Swing Tank
	 	71,495
	221
	 	Gasoline Swing
	 	71,508
	222
	 	Gasoline Swing
	 	71,509
	223
	 	Reformate
	 	72,893
	224
	 	Jet Fuel
	 	71,534
	225
	 	HTU1 Chg, kerosene
	 	28,882
	226
	 	Finish Gasoline
	 	27,679
	227
	 	Natural Gasoline
	 	27,701
	230
	 	Diesel (RAM)
	 	4,780
	231
	 	Light Cycle (RAM)
	 	1,923
	243
	 	Toluene
	 	11,300
	244
	 	Toluene
	 	10,175
	250
	 	FCCU Gasoline
	 	75,354
	251
	 	FCCU Gasoline
	 	75,968
	252
	 	FCCU Gasoline
	 	75,968
	253
	 	Natural Gasoline
	 	74,653
	254
	 	Isomerate
	 	19,318
	255
	 	Isomerate
	 	19,318
	256
	 	TEL Wash
	 	950
	447
	 	Finish Gasoline
	 	17,730

Exhibit B

 

 

	 	 	 	 	 
	 	 	CURRENT	 	NOMINAL CAPACITY,
	TANK ID NUMBER	 	SERVICE/PRODUCT	 	BBLS
	448
	 	Idled
	 	17,746
	453
	 	Ethanol
	 	5,121
	457
	 	HTU3 Chg, LSR
	 	32,690
	458
	 	Isomerate
	 	32,690
	490
	 	ULSD
	 	116,094
	600
	 	Propane
	 	625
	601
	 	Propane
	 	625
	602
	 	Propane
	 	625
	603
	 	Propane
	 	625
	604
	 	Propane
	 	625
	605
	 	Propane
	 	625
	606
	 	Propane
	 	625
	607
	 	Propane
	 	625
	608
	 	Propane
	 	625
	609
	 	Propane
	 	625
	610
	 	Propane
	 	625
	611
	 	Propane
	 	625
	612
	 	Propane
	 	625
	613
	 	Propane
	 	625
	614
	 	Propane
	 	625
	615
	 	Propane
	 	625
	616
	 	Propane
	 	625

Exhibit B

 

 

	 	 	 	 	 
	 	 	CURRENT	 	NOMINAL CAPACITY,
	TANK ID NUMBER	 	SERVICE/PRODUCT	 	BBLS
	617
	 	Propane
	 	625
	618
	 	Propane
	 	625
	619
	 	Propane
	 	625
	620
	 	Propane
	 	575
	621
	 	Propane
	 	100
	TOTAL CAPACITY	 	 	 	 
	(90 TANKS)
	 	 	 	3,782,850

Exhibit B

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