Document:

Exhibit 10.4

 

Agreed Form

 

ASSIGNMENT, ASSUMPTION AND AMENDMENT AGREEMENT

 

among

 

MAGNUM OPUS ACQUISITION LIMITED

 

ASIA INNOVATIONS GROUP LIMITED

 

and

 

CONTINENTAL STOCK TRANSFER & TRUST COMPANY

 

Dated                 ,
20

 

THIS ASSIGNMENT, ASSUMPTION
AND AMENDMENT AGREEMENT (this “Agreement”), dated               , 20 , is made by and among Magnum Opus Acquisition Limited, a Cayman
Islands exempted company (“SPAC”), Asia Innovations Group Limited, a Cayman Islands exempted company (“AIG”),
and Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent (in such capacity, the “Warrant
Agent”) and amends the Warrant Agreement (the “Existing Warrant Agreement”), dated March 23, 2021,
by and between SPAC and the Warrant Agent. Capitalized terms used but not defined herein shall have the meaning ascribed to such terms
in the Existing Warrant Agreement.

 

WHEREAS, as of the date hereof
and pursuant to the Existing Warrant Agreement, (i) SPAC issued (a) 6,000,000 Private Placement Warrants to the Sponsor and
(b) 10,000,000 Public Warrants;

 

WHEREAS, on September
30, 2022, SPAC, AIG, and Connect Merger Sub, an exempted company incorporated with limited liability under the
laws of Cayman Islands and a wholly-owned subsidiary of AIG (“Merger Sub”) entered into an agreement and plan of
merger (as amended, modified or supplemented from time to time, the “Merger Agreement”);

 

WHEREAS, all of the Warrants
are governed by the Existing Warrant Agreement;

 

WHEREAS, pursuant to the
Merger Agreement, Merger Sub will merge with and into SPAC (the “Merger”), with SPAC surviving the Merger as a wholly-owned
subsidiary of AIG, and holders of SPAC ordinary shares shall become holders of Class A ordinary shares of AIG (the “AIG
Class A Ordinary Shares”);

 

WHEREAS, upon consummation
of the Merger, as provided in Section 4.4 of the Existing Warrant Agreement, the Warrants will no longer be exercisable for SPAC
Class A ordinary shares but instead will be exercisable (subject to the terms of the Existing Warrant Agreement as amended hereby)
for AIG Class A Ordinary Shares;

 

WHEREAS, the board of directors
of SPAC has determined that the consummation of the transactions contemplated by the Merger Agreement will constitute a Business Combination;

 

WHEREAS, in connection with
the Merger, SPAC desires to assign all of its rights, titles, interests and obligations in and under the Existing Warrant Agreement to
AIG and AIG wishes to accept such assignment; and

 

WHEREAS, Section 9.8
of the Existing Warrant Agreement provides that SPAC and the Warrant Agent may amend the Existing Warrant Agreement without the consent
of any Registered Holders as the parties may deem necessary or desirable and that the parties deem shall not adversely affect the interests
of the Registered Holders under the Existing Warrant Agreement.

 

    	 	1	 

     

    

 

NOW, THEREFORE, in consideration
of the mutual agreements herein contained, the parties hereto agree as follows:

 

	1.	Assignment and Assumption; Consent.

 

		1.1	Assignment and Assumption.
                                            As of and with effect on and from the Closing (as defined in the Merger Agreement, the “Closing”),
                                            SPAC hereby assigns to AIG all of SPAC’s rights, titles, interests and obligations
                                            in and under the Existing Warrant Agreement (as amended hereby); and AIG hereby assumes,
                                            and agrees to pay, perform, satisfy and discharge in full, as the same become due, all of
                                            SPAC’s liabilities and obligations under the Existing Warrant Agreement (as amended
                                            hereby) arising on, from and after the Closing.

 

		1.2	Consent. The Warrant Agent
                                            hereby consents to (i) the assignment of the Existing Warrant Agreement by SPAC to AIG
                                            pursuant to Section 1.1 and the assumption of the Existing Warrant Agreement by AIG
                                            from SPAC pursuant to Section 1.1, in each case effective as of the Closing, and (ii) the
                                            continuation of the Existing Warrant Agreement (as amended by this Agreement), in full force
                                            and effect from and after the Closing.

 

	2.	Amendment of Existing Warrant Agreement.
                                            Effective as of the Closing, SPAC and the Warrant Agent hereby amend the Existing Warrant
                                            Agreement as provided in this Section 2, and acknowledge and agree that the amendments
                                            to the Existing Warrant Agreement set forth in this Section 2 (i) are necessary
                                            and desirable and do not adversely affect the interests of the Registered Holders under the
                                            Existing Warrant Agreement and (ii) are to provide for the delivery of Alternative Issuance
                                            pursuant to Section 4.4 of the Existing Warrant Agreement (in connection with the Merger
                                            and the transactions contemplated by the Merger Agreement).

 

		2.1	References to the “Company”.
                                            All references to the “Company” in the Existing Warrant Agreement (including
                                            all Exhibits thereto) shall be references to AIG.

 

		2.2	References to “Class A
                                            ordinary shares”. All references to “Class A ordinary shares”
                                            in the Existing Warrant Agreement (including all Exhibits thereto) shall be references to
                                            AIG Class A Ordinary Shares.

 

		2.3	References to Business Combination.
                                            All references to “Business Combination” in the Existing Warrant Agreement (including
                                            all Exhibits thereto) shall be references to the transactions contemplated by the Merger
                                            Agreement, and references to “the completion of the Business Combination” and
                                            all variations thereof in the Existing Warrant Agreement (including all Exhibits thereto)
                                            shall be references to the Closing.

 

		2.4	Notice Clause. Section 9.2
                                            of the Existing Warrant Agreement is hereby deleted and replaced with the following:

 

“Notices. Any notice, statement
or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company
shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service
within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the
Company with the Warrant Agent), as follows:

 

Asia Innovations Group Limited

111 North Bridge Road, #27-01 Peninsula Plaza, Singapore
179098

Attn: Andy Tian

E-mail: andy.tian@asiainnovations.net

 

     

     

    

 

with a copy (which shall not constitute
notice) to:

 

Kirkland & Ellis

26th Floor, Gloucester Tower, The Landmark

15 Queen’s Road Central, Hong Kong

Attention: David Zhang; Jesse Sheley; Joseph Raymond Casey

E-mail: david.zhang@kirkland.com; jesse.sheley@kirkland.com;

joseph.casey@kirkland.com

 

Any notice, statement or demand authorized
by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Warrant Agent shall be sufficiently
given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five (5) days
after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Warrant Agent with the Company),
as follows:

 

Continental Stock Transfer &
Trust Company

One State Street, 30th Floor

New York, NY 10004

Attention: Compliance Department

 

	3.	Miscellaneous Provisions.

 

		3.1	Effectiveness of the Amendment.
                                            Each of the parties hereto acknowledges and agrees that the effectiveness of this Agreement
                                            shall be expressly subject to the occurrence of the Merger and substantially contemporaneous
                                            occurrence of the Closing and shall automatically be terminated and shall be null and void
                                            if the Merger Agreement shall be terminated for any reason.

 

		3.2	Successors. All the covenants
                                            and provisions of this Agreement by or for the benefit of AIG, SPAC or the Warrant Agent
                                            shall bind and inure to the benefit of their respective successors and assigns.

 

		3.3	Applicable Law and Exclusive
                                            Forum. The validity, interpretation, and performance of this Agreement shall be governed
                                            in all respects by the laws of the State of New York, without giving effect to conflicts
                                            of law principals or rules that would result in the application of the substantive laws
                                            of another jurisdiction. Subject to applicable law, each of AIG and SPAC hereby agrees that
                                            any action, proceeding or claim against it arising out of or relating in any way to this
                                            Agreement shall be brought and enforced in the courts of the State of New York or the United
                                            States District Court for the Southern District of New York, and irrevocably submits to such
                                            jurisdiction, which jurisdiction shall be exclusive forum for any such action, proceeding
                                            or claim. Each of AIG and SPAC hereby waives any objection to such exclusive jurisdiction
                                            and that such courts represent an inconvenient forum. Notwithstanding the foregoing, the
                                            provisions of this paragraph will not apply to suits brought to enforce any liability or
                                            duty created by the Exchange Act or any other claim for which the federal district courts
                                            of the United States of America are the sole and exclusive forum.

 

	 	 	Any person or entity purchasing or otherwise acquiring any interest in the Warrants shall be deemed
    to have notice of and to have consented to the forum provisions in this Section 3.3. If any action, the subject matter
    of which is within the scope the forum provisions above, is filed in a court other than a court located within the State of New York
    or the United States District Court for the Southern District of New York (a “foreign action”) in the name of
    any warrant holder, such warrant holder shall be deemed to have consented to: (x) the personal jurisdiction of the state and
    federal courts located within the State of New York or the United States District Court for the Southern District of New York in
    connection with any action brought in any such court to enforce the forum provisions (an “enforcement action”),
    and (y) having service of process made upon such warrant holder in any such enforcement action by service upon such warrant
    holder’s counsel in the foreign action as agent for such warrant holder.

 

     

     

    

 

		3.4	Counterparts. This Agreement
                                            may be executed in any number of original or facsimile counterparts and each of such counterparts
                                            shall for all purposes be deemed to be an original, and all such counterparts shall together
                                            constitute but one and the same instrument. A signed copy of this Agreement delivered by
                                            facsimile, e-mail or other means of electronic transmission shall be deemed to have the same
                                            legal effect as delivery of an original signed copy of this Agreement.

 

		3.5	Effect of Headings. The
                                            section headings herein are for convenience only and are not part of this Agreement and shall
                                            not affect the interpretation thereof.

 

		3.6	Severability. This Agreement
                                            shall be deemed severable, and the invalidity or unenforceability of any term or provision
                                            hereof shall not affect the validity or enforceability of this Agreement or of any other
                                            term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term
                                            or provision, the parties hereto intend that there shall be added as a part of this Agreement
                                            a provision as similar in terms to such invalid or unenforceable provision as may be possible
                                            and be valid and enforceable.

 

[Signature Pages Follow]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be duly executed as of the date first above written.

 

	 	MAGNUM OPUS ACQUISITION LIMITED,
    as SPAC
	 	 
	 	By:	            
	 	Name:
	 	Title:

 

[Signature Page to
Assignment, Assumption and Amendment Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be duly executed as of the date first above written.

 

	 	ASIA INNOVATIONS GROUP LIMITED,
    as AIG
	 	 
	 	By:	            
	 	Name:
	 	Title:

 

[Signature Page to
Assignment, Assumption and Amendment Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be duly executed as of the date first above written.

  

	 	CONTINENTAL STOCK
    TRANSFER & TRUST COMPANY, as Warrant Agent
	 	 
	 	By:	            
	 	Name:
	 	Title:

 

[Signature Page to Assignment, Assumption
and Amendment Agreement]EX-10.1

 Exhibit 10.1 

STOCK PURCHASE AGREEMENT 

THIS STOCK PURCHASE AGREEMENT (this “Agreement”) is entered into as of September 28, 2022, by and among HF
Sinclair Corporation, a Delaware corporation (the “Company”), on the one hand, and REH Company (the “Selling Stockholder”), on the other hand. 

Recitals 
 WHEREAS,
the Selling Stockholder beneficially owns an aggregate of 50,268,451 shares of the Company’s outstanding common stock, par value $0.01 per share (the “Common Stock”), constituting approximately 24.70% of the outstanding
Common Stock; and 
 WHEREAS, the Selling Stockholder desires to sell to the Company, and the Company desires to repurchase from the Selling
Stockholder, an aggregate of 1,881,113 shares of Common Stock (the “Shares”) at a price of $53.16 per Share, for an aggregate price of $99,999,967 for the Shares (such aggregate purchase price, the “Purchase
Price”), upon the terms and subject to the conditions set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the
mutual covenants herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agree as follows: 

Agreement 
 1.
Repurchase. 
 (a) Purchase and Sale. Upon the terms and subject to the conditions of this Agreement, the Company
hereby agrees to purchase from the Selling Stockholder, and the Selling Stockholder hereby agrees to sell, convey, assign, transfer and deliver, or cause to be delivered, to the Company, the Shares for an aggregate purchase price equal to the
Purchase Price, free and clear of any and all mortgages, pledges, encumbrances, liens, security interests, options, charges, claims, deeds of trust, deeds to secure debt, title retention agreements, rights of first refusal or offer, limitations on
voting rights, proxies, voting agreements, limitations on transfer or other agreements or claims of any kind or nature whatsoever, other than restrictions on transfer under applicable securities laws (collectively, “Liens”).

 (b) Closing. Subject to the terms and conditions of this Agreement and the delivery of the deliverables contemplated by
Section 1(c) of this Agreement, the closing of the purchase and sale of the Shares contemplated hereby (the “Closing”) will take place on or around the third business day following the date hereof,
at a time and place mutually agreed by the parties. 
 (c) Closing Deliveries and Actions. 

(i) At the Closing, the Selling Stockholder shall (A) provide an instruction letter to the Company’s transfer agent directing the
transfer agent to transfer the Shares to one or more accounts designated by the Company, sufficient to convey to the Company good, valid and marketable title in and to the Shares, free and clear of any and all Liens and (B) deliver to the
Company a properly completed and duly executed IRS Form W-9 (or other applicable IRS tax form). 

 (ii) At the Closing, the Company shall (A) deliver to the Selling Stockholder by wire
transfer to the account to be designated by the Selling Stockholder (such account to be designated by the Selling Stockholder in writing concurrently with or promptly after the execution and delivery of this Agreement) immediately available funds in
U.S. dollars in an amount equal to the Purchase Price and (B) provide an instruction letter to the Company’s transfer agent directing the transfer agent to transfer the Shares to one or more accounts designated by the Company. 

(d) Conditions of the Selling Stockholder’s Obligations at Closing. The obligation of the Selling Stockholder to sell the Shares
is subject to the fulfillment, on or before the Closing, of each of the following conditions, unless otherwise waived: 
  

	 	(i)	 The representations and warranties contained in Section 3 shall be true and correct
in all respects as of the Closing. 

  

	 	(ii)	 The Company shall have performed and complied with all covenants, agreements, obligations and conditions
contained in this Agreement that are required to be performed or complied with by the Company on or before the Closing. 

  

	 	(iii)	 There shall be no pending suit, action or proceeding by any federal, state, local or foreign court,
administrative agency or governmental or regulatory authority or body (each, an “Authority”) to which the Company or any of its properties is subject, seeking to challenge, restrain, preclude, enjoin or prohibit the
transactions contemplated by this Agreement. 

 (e) Conditions of the Company’s Obligations at Closing. The
obligation of the Company to purchase the Shares is subject to the fulfillment, on or before the Closing, of each of the following conditions, unless otherwise waived: 
  

	 	(i)	 The representations and warranties contained in Section 2 shall be true and correct
in all respects as of the Closing. 

  

	 	(ii)	 The Selling Stockholder shall have performed and complied with all covenants, agreements, obligations and
conditions contained in this Agreement that are required to be performed or complied with by the Selling Stockholder on or before the Closing. 

  

	 	(iii)	 There shall be no pending suit, action or proceeding by any Authority to which the Company or any of its
properties is subject, seeking to challenge, restrain, preclude, enjoin or prohibit the transactions contemplated by this Agreement. 

  
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 (f) Withholding Rights. The Company shall be entitled to deduct and withhold from the
Purchase Price such amounts as it may be required to deduct and withhold with respect to the making of such payment under the U.S. Internal Revenue Code of 1986, as amended, or any provision of foreign, state or local tax law; provided that, so long
as the Selling Stockholder delivers a IRS Form W-9 pursuant to Section 1(c)(i) confirming the Selling Stockholder is exempt from backup withholding, the parties agree that no
deduction or withholding is required with respect to any amounts payable to the Selling Stockholder pursuant to this Agreement. To the extent that amounts are so withheld by the Company and paid over to the applicable Authority, such withheld
amounts shall be treated for all purposes of this Agreement as having been paid to the Selling Stockholder. 
 2. Representations of
the Company. The Company represents and warrants to the Selling Stockholder that, as of the date hereof and at the Closing: 
 (a)
The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. 
 (b) The
Company has the full power and authority to execute, deliver and carry out the terms and provisions of this Agreement and to consummate the transactions contemplated hereby, and has taken all necessary action to authorize the execution, delivery and
performance of this Agreement. 
 (c) This Agreement has been duly and validly authorized, executed and delivered by the Company and
constitutes a legal, valid and binding obligation of the Company, enforceable in accordance with its terms, except to the extent that (i) such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar
laws relating to or affecting creditors’ rights generally and (ii) the remedy of specific performance and injunctive and other forms of equitable relief may be subject to certain equitable defenses and to the discretion of the court before
which any proceedings may be brought. Inasmuch as the transactions contemplated by this Agreement would be an Interested Transaction with a Related Person as such terms are defined in the Company’s Related Party Transaction Policy, the Audit
Committee of the Company has approved this Agreement and the transactions contemplated hereby and the Company has otherwise taken all other actions necessary to approve and effect this Agreement that are necessitated as a result of this Agreement
involving an Interested Transaction. 
 (d) The execution and delivery of this Agreement and the consummation of the transactions
contemplated hereby will not conflict with, result in the breach of any of the terms or conditions of, constitute a default under or violate, accelerate or permit the acceleration of any other similar right of any other party under the Amended and
Restated Certificate of Incorporation or Amended and Restated By-Laws of the Company, any law, rule or regulation or any agreement, lease, mortgage, note, bond, indenture, license or other document or
undertaking to which the Company is a party or by which the Company or its properties may be bound, nor will such execution, delivery and consummation violate any order, writ, injunction or decree of any Authority to which the Company or any of its
properties is subject, the effect of any of which, either individually or in the aggregate, would have, or reasonably be expected to have, a material adverse effect on the consolidated financial position, stockholders’ equity or results of
operations of the Company and its subsidiaries, taken as a whole, or materially impact the Company’s ability 

  
 3 

 
to consummate the transactions contemplated by this Agreement (a “Material Adverse Effect”); and no consent, approval, authorization, order, registration or qualification
of or with any such Authority is required for the consummation by the Company of the transactions contemplated by this Agreement, except such consents, approvals, authorizations and orders as would not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect. 
 (e) The Company acknowledges that it has not relied upon any express or implied
representations or warranties of any nature made by or on behalf of the Selling Stockholder, whether or not any such representations, warranties or statements were made in writing or orally, except as expressly set forth for the benefit of the
Company in this Agreement. 
 (f) No agent, broker, financial advisor, or other intermediary acting on behalf of the Company is, or will be,
entitled to, any broker’s commission, finder’s fees, or similar payment from any of the parties, or from any affiliate of any of the parties, in connection with the transactions contemplated by this Agreement. 

3. Representations of the Selling Stockholder . The Selling Stockholder represents and warrants to the Company that, as of the
date hereof and at the Closing: 
 (a) The Selling Stockholder is duly organized, validly existing and in good standing under the laws of the
jurisdiction of its organization. 
 (b) The Selling Stockholder has the full power and authority to execute, deliver and carry out the
terms and provisions of this Agreement and consummate the transactions contemplated hereby, and has taken all necessary action to authorize the execution, delivery and performance of this Agreement. 

(c) This Agreement has been duly and validly authorized, executed and delivered by the Selling Stockholder, and constitutes a legal, valid and
binding obligation of the Selling Stockholder, enforceable in accordance with its terms, except to the extent that (i) such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or
affecting creditors’ rights generally and (ii) the remedy of specific performance and injunctive and other forms of equitable relief may be subject to certain equitable defenses and to the discretion of the court before which any
proceedings may be brought. 
 (d) The sale of the Shares to be sold by the Selling Stockholder hereunder and the execution and delivery of
this Agreement and the consummation of the transactions contemplated hereby will not conflict with, result in the breach of any of the terms or conditions of, constitute a default under or violate, accelerate or permit the acceleration of any other
similar right of any other party under the governing organizational documents of the Selling Stockholder, any law, rule or regulation, or any agreement, lease, mortgage, note, bond, indenture, license or other document or undertaking, to which the
Selling Stockholder is a party or by which the Selling Stockholder or its properties may be bound, nor will such execution, delivery and consummation violate any order, writ, injunction or decree of any Authority to which the Selling Stockholder or
any of its properties is subject, the effect of any of which, either individually or in the aggregate, would affect the validity of the Shares to be sold by the Selling Stockholder or reasonably be expected to materially impact the Selling
Stockholder’s ability to perform its obligations under 

  
 4 

 
this Agreement; and no consent, approval, authorization, order, registration or qualification of or with any such Authority is required for the performance by the Selling Stockholder of its
obligations under this Agreement and the consummation by the Selling Stockholder of the transactions contemplated by this Agreement in connection with the Shares to be sold by the Selling Stockholder hereunder, except such consents, approvals,
authorizations and orders as would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the Selling Stockholder’s ability to consummate the transactions contemplated by this Agreement. 

(e) The transfer of Shares made by the Selling Stockholder at the Closing will be valid and binding obligations of the Selling Stockholder,
enforceable in accordance with their respective terms, except to the extent that (i) such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ rights
generally and (ii) the remedy of specific performance and injunctive and other forms of equitable relief may be subject to certain equitable defenses and to the discretion of the court before which any proceedings may be brought, and will vest
in the Company good, valid and marketable title to all Shares purchased by the Company, free and clear of any and all Liens. 
 (f) The
Selling Stockholder (either alone or together with its advisors) has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the sale of the Shares and it has made an independent
decision to sell the Shares to the Company based on the Selling Stockholder’s knowledge about the Company and its business and other information available to the Selling Stockholder. The Selling Stockholder has received all of the information
concerning the business and financial condition of the Company that the Selling Stockholder considers necessary or appropriate for making an informed decision whether to enter into, execute and deliver this Agreement and perform the obligations set
forth herein. The Selling Stockholder hereby represents and warrants that it has had an opportunity to ask questions and receive answers from the Company as the Selling Stockholder has requested. The Selling Stockholder acknowledges that it has not
relied upon any express or implied representations or warranties of any nature made by or on behalf of the Company, whether or not any such representations, warranties or statements were made in writing or orally, except as expressly set forth for
the benefit of the Selling Stockholder in this Agreement. The Selling Stockholder acknowledges that the Company and its affiliates, officers and directors may possess material non-public information not known
to such Seller regarding or relating to the Company, including information concerning the business, financial condition, results of operations or prospects of the Company. The Selling Stockholder has carefully reviewed the Company’s filings
with U.S. Securities and Exchange Commission, and hereby confirms that the Selling Stockholder is relying on no other information, whether delivered by the Company or any other person, in making its decision to sell the Shares. 

(g) With respect to legal, tax, accounting, financial and other considerations involved in the transactions contemplated by this Agreement,
including the sale of the Shares, the Selling Stockholder is not relying on the Company (or any agent or representative thereof). The Selling Stockholder has carefully considered and, to the extent it believes such discussion is necessary, discussed
with professional legal, tax, accounting, financial and other advisors the suitability of the transactions contemplated by this Agreement, including the sale of the Shares. 

  
 5 

 (h) No agent, broker, financial advisor, or other intermediary acting on behalf of the
Selling Stockholder is, or will be, entitled to, any broker’s commission, finder’s fees, or similar payment from any of the parties, or from any affiliate of any of the parties, in connection with the transactions contemplated by this
Agreement. 
 4. Stock Transfer or Similar Taxes. The Selling Stockholder shall be responsible for the payment of any stock
transfer or similar taxes in connection with the transaction contemplated by this Agreement. 
 5. Publicity. Prior to the six-month anniversary of the Closing, the Selling Stockholder agrees that it shall not, and that it shall cause its affiliates and representatives not to, publish, release or file any press release or other public
statement or announcement relating to the transactions contemplated by this Agreement without prior written consent of the Company; provided, however, that nothing in this Section 5 shall restrict the ability
of the Selling Stockholder (i) to file a Form 4 or an amendment to its Schedule 13D, in each case relating to the transactions contemplated by this Agreement, without further review or consent from the Company, (ii) to take any other
action required by law, or (iii) to make any public statement or announcement if the Company has publicly disclosed the transactions contemplated hereby, including, without limitation, in any document filed or furnished to the Securities and
Exchange Commission (the “SEC”) in accordance with the Securities Exchange Act of 1934, as amended, or the rules and regulations of the SEC promulgated thereunder; provided, further, that the Selling Stockholder
and its affiliates and representatives shall provide the Company and its counsel a meaningful opportunity to review and comment on any such press release or other public statement or announcement relating to the transactions contemplated by this
Agreement. 
 6. Notices. All notices, requests, claims, demands or other communications to be given or delivered under or by
reason of the provisions of this Agreement will be in writing and will be deemed to have been given when delivered personally, mailed by certified or registered mail (return receipt requested and postage prepaid), sent via a nationally recognized
overnight courier, or sent via email (receipt of which is confirmed) to the recipient. Such notices, demands and other communications shall be sent as follows: 

If to the Selling Stockholder: 

REH Company 
 550 East South
Temple 
 Salt Lake City, Utah 84102 

Attention: General Counsel 

Email:
[                            ] 

If to the Company: 
 HF Sinclair
Corp. 
 2828 N. Harwood, Suite 1300 

Dallas, Texas 75201 
 Attention:
Chief Executive Officer 
 Email:
[                            ] 

  
 6 

 with a copy (which shall not constitute notice): 

HF Sinclair Corp. 
 2828 N.
Harwood, Suite 1300 
 Dallas, Texas 75201 

Attention: General Counsel 

Email:
[                            ] 

or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. 

7. Miscellaneous. 

(a) Survival of Representations and Warranties. All representations and warranties contained herein or made in writing by any party in
connection herewith shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby until the expiration of the applicable statute of limitations. 

(b) Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be invalid, illegal, or unenforceable in any respect under any applicable law or rule in any jurisdiction, the remainder of the terms, provisions, covenants and restrictions of
this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated. 
 (c) Complete
Agreement. This Agreement supersedes all prior agreements and understandings (whether written or oral) between the Company and the Selling Stockholder with respect to the subject matter hereof. 

(d) Counterparts. This Agreement may be executed by any one or more of the parties hereto in counterparts, each of which shall be
deemed to be an original, but all such counterparts shall together constitute one and the same instrument. This Agreement, and any and all agreements and instruments executed and delivered in accordance herewith, to the extent signed and delivered
by means of facsimile or other electronic format or signature (including email, “pdf,” “tif,” “jpg,” DocuSign and Adobe Sign), shall be treated in all manner and respects and for all purposes as an original signature
and an original agreement or instrument and shall be considered to have the same legal effect, validity and enforceability as if it were the original signed version thereof delivered in person. 

(e) Further Assurances. Subject to the other terms of this Agreement, the parties hereto agree to execute and deliver such other
instruments and perform such acts, in addition to the matters herein specified, as may be reasonably appropriate or necessary, from time to time, to effectuate the transactions contemplated by this Agreement. 

(f) Successors and Assigns. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in
whole or in part, by either party without the prior written consent of the other party. Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by the Selling Stockholder and the Company and
their respective successors and assigns. 

  
 7 

 (g) No Third Party Beneficiaries or Other Rights. This Agreement is for the sole
benefit of the parties and their successors and permitted assigns and nothing herein express or implied shall give or shall be construed to confer any legal or equitable rights or remedies to any person other than the parties to this Agreement and
such successors and permitted assigns. 
 (h) Governing Law. THIS AGREEMENT AND ANY MATTERS RELATED TO THIS TRANSACTION SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF. The Company and the Selling Stockholder each agrees that any suit or proceeding arising in respect of this
Agreement will be tried exclusively in the Delaware Court of Chancery in and for New Castle County, but in the event that such court does not have subject matter jurisdiction, the United States District Court for the District of Delaware, and
the Company and the Selling Stockholder each agrees to submit to the jurisdiction of, and to venue in, such courts. 
 (i) Waiver of Jury
Trial. The Company and the Selling Stockholder each hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the
transactions contemplated hereby. 
 (j) Mutuality of Drafting. The parties have participated jointly in the negotiation and drafting
of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by
virtue of the authorship of any provision of the Agreement. 
 (k) Remedies. Each of the parties hereto agree and acknowledge that
money damages may not be an adequate remedy for any breach of the provisions of this Agreement and that any party may in its sole discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or deposit) for
specific performance or other injunctive relief in order to enforce, or prevent any violations of, the provisions of this Agreement. 
 (l)
Amendment and Waiver. No modification of or amendment to this Agreement shall be effective unless in a writing signed by the parties to this Agreement, and no waiver of any rights under this Agreement shall be effective unless in a writing
signed by the waiving party. 
 (m) Expenses. Each of the Company and the Selling Stockholder shall bear its own costs and expenses
in connection with the drafting, negotiation, execution and delivery of this Agreement and the consummation of the transactions contemplated hereby. 

[Signatures appear on the following page.] 

  
 8 

 IN WITNESS WHEREOF, the parties hereto have executed this Stock Purchase Agreement as of the
date first written above. 
  

			
	COMPANY:
	
	HF SINCLAIR CORPORATION
		
	By:	 	/s/ Michael C. Jennings
	Name:	 	Michael C. Jennings
	Title:	 	Chief Executive Officer
	
	SELLING STOCKHOLDER:
	
	REH COMPANY
		
	By:	 	/s/ Ross B. Matthews
	Name:	 	Ross B. Matthews
	Title:	 	Chief Operating Officer

  

  
 [Signature Page to
Stock Purchase Agreement]

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