Document:

EX-10.3

 Exhibit 10.3 

PAR PETROLEUM CORPORATION 
 AWARD
OF RESTRICTED STOCK UNITS 
 (Canada) 

In this Award, Par Petroleum Corporation (the “Company”) grants
[            ] (the “Participant”), an Employee, Restricted Stock Units (“RSUs”) which upon becoming
“Vested” (as provided below), on the applicable “Vesting Date” (as defined below), will entitle the Participant to receive the number of shares of Stock equal to the number of RSUs granted hereunder that have become
vested on that date. All terms and conditions of the RSUs and Stock that may be issued are granted under and governed by the terms of the Par Petroleum Corporation 2012 Long Term Incentive Plan (“Plan”) and this
Award. All capitalized terms not defined in this Award shall have the meaning of such terms as provided in the Plan. 
  

	 	1.	The “Date of Grant” is                     . 

 

	 	2.	The total number of RSUs granted is                     . 

 

	 	3.	The Vesting Dates for the RSUs granted in this Award are as follows: 

 Subject to
Item 4 below, Participant shall not become vested in any of the RSUs granted unless he or she is continually employed with Company or an Affiliate from the Date of Grant through the Vesting Date, and Participant may not sell, assign, transfer,
exchange, pledge, encumber, gift, devise, hypothecate or otherwise dispose of any RSUs until such RSUs become Vested as provided herein. The transfer restrictions and substantial risk of forfeiture imposed in the foregoing sentence shall lapse on
the following applicable dates (each a “Vesting Date”): as to one quarter (1/4) of the RSUs on             , 2016 and an additional one quarter (1/4) of
the Restricted Stock on each anniversary of [Date] until the RSUs are 100% Vested. The RSUs as to which such restrictions so lapse are referred to as “Vested.”  

 

	 	4.	Other Vesting Events are as follows: 

 Notwithstanding the foregoing vesting
criteria in item 3, the RSUs that have not been previously forfeited will be Vested upon the date of the occurrence of any one of the following “Vesting Events”, on the date of the Vesting Event: (a) Participant’s
termination of employment with the Company and its Affiliates due to death or Disability, (b) the Participant’s termination of employment by the Company and its Affiliates without Cause, or (c) upon a Change in Control. The date of
the occurrence of one of the Vesting Events shall be the Vesting Date for purposes of this Award so long as the Participant has been continuously employed with the Company or a Company Affiliate from the Date of the Grant through the date of the
Vesting Event. 
  

	 	5.	Other Terms and Conditions: 

 (a) No Fractional Shares. All provisions of this
Award concern whole shares of Stock. If the application of any provision hereunder would yield a fractional share, such fractional share shall be rounded down to the next whole share if it is less than 0.5 and rounded up to the next whole share if
it is 0.5 or more. 

 (b) Not an Employment or Service Agreement. This Award is not an employment
agreement, and this Award shall not be, and no provision of this Award shall be construed or interpreted to create any right of Participant to continue employment with or provide services to the Company or any of its Affiliates. 

(c) Code Section 409A. To the extent that this Award of RSUs is deferred compensation subject to Code Section 409A,
this Award is intended and will be interpreted to comply with the requirements of Code Section 409A, and the Committee shall use the applicable definitions from Code Section 409A in the administration of this Award, such as a more
restrictive definition of Change in Control to comply with Code Section 409A to the extent that it is required and a termination of employment shall mean a Separation from Service (as defined below). To the extent required by Code
Section 409A, if the Participant is Specified Employee (as defined below), a distribution on account of a Separation from Service may not be made before the date which is the first business day that is six months after the date of the
Participant’s Separation from Service (or, if earlier, the date of the Participant’s death). For purposes of the foregoing, the terms “Separation from Service” and “Specified
Employee,” shall be defined in the same manner as those terms are defined for purposes of Section 409A of the Code, and the limitations set forth herein shall be applied in such manner (and only to the extent) as shall be
necessary to comply with any requirements of Section 409A of the Code that are applicable to this Award. To the extent that this Award is subject to Code Section 409A, the Committee shall not have any discretion otherwise provided in this
Plan to the extent such discretion is prohibited under Code Section 409A with respect to deferred compensation including, without limitation, any discretion to accelerate or substitute under Section 25. In addition, if this Award is
subject to Code Section 409A, the Committee may interpret or amend this Award to comply with Code Section 409A without the Participant’s consent even if such amendment would have an adverse effect on this Award. 

(d) Independent Tax Advice and Acknowledgments. The Participant acknowledges he or she has been advised to consult his or her
tax advisor with respect to this Award and the tax consequences of this Award and any payments hereunder. None of the Company, any Company Affiliate nor any officer, director, employee, shareholder or any agent of any of them guarantees or is
responsible for the tax consequences to a Participant with respect to this Award under the Plan and the administration of this Award and Plan, including without limitation, any excise or penalty tax or interest under Code Section 409A.
Participant acknowledges receipt of a copy of the Plan and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts this Award subject to all the terms and provisions of the Plan and this Award. 

(e) This Award supersedes and replaces all prior agreements and understandings, oral or written, between the Company, Texadian
Energy Canada Limited, or any of their Affiliates and the Participant regarding this Award and the RSUs and by his or her signature below the Participant acknowledges the same. 

  
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 (f) The Committee has determined in connection with this Award that the
Participant may elect to have the Company withhold that number of shares of Stock otherwise deliverable to the Participant when the RSUs become Vested or to deliver to the Company a number of shares of Stock, in each case, having a Fair Market Value
on the date of Vesting equal to the minimum amount required to be withheld for taxes as a result of such exercise. The election must be made in writing and must be delivered to the Company prior to the date of Vesting. If the number of shares so
determined shall include a fractional share, the Participant shall deliver cash in lieu of such fractional share. All elections shall be made in a form approved by the Committee and shall be subject to disapproval, in whole or in part by the
Committee. 
 The RSUs granted hereunder and the issuance of the Stock will be subject to all applicable federal, state and local taxes
domestic and foreign and withholding requirements (including, without limitation, any withholding required under any other employee benefit plan maintained by the Company or a Company Affiliate). The Participant hereby agrees to accept as binding,
conclusive, and final all decisions or interpretations of the Committee or the Board, as appropriate, upon any questions arising under the Plan or this Award. 

 

			
	PARTICIPANT:
		
	Signature:		  

 
			
	Date:		  

	
	PAR PETROLEUM CORPORATION
		
	By:		  

			  

	Date:		  

  
 3EX-10.4

 Exhibit 10.4 

[Name] 
 PAR PETROLEUM
CORPORATION 
 NONSTATUTORY STOCK OPTION AGREEMENT 

(Eight Year) 
 1. Grant of
Stock Option. As of                     , (“the Grant Date”), Par Petroleum Corporation, a Delaware corporation (the
“Company”), hereby grants a Nonstatutory Stock Option (the “Option”) to                      (the
“Optionee”), an Employee or Director of the Company, to purchase the number of shares of the Company’s common stock (the “Stock”) identified below, subject to the terms and conditions of this agreement
(the “Agreement”) and the Par Petroleum Corporation 2012 Long Term Incentive Plan (the “Plan”) which is hereby incorporated herein in its entirety by reference. The Option is not an “incentive stock
option” as defined in Section 422 of the Internal Revenue Code. 
 2. Definitions. All capitalized terms used herein
shall have the meanings set forth in the Plan unless otherwise specifically provided herein.  
 3. Option Term. The
Option shall commence on the Grant Date and terminate on the date immediately prior to the eighth (8th) anniversary of the Grant Date. The period during which the Option is in effect and may
be exercised is referred to herein as the “Option Period.” 
 4. Number of Shares of Stock and Option Price.
The number of shares of Stock subject to this Option is                     . The “Option Price” per share of Stock is
$        , which is the “Fair Market Value,” as defined in the Plan, per share of Stock on the Grant Date. 

5. Vesting. This Option may be exercised for the total number of shares of Stock subject to this Option in accordance with the
“Vesting Dates” as follows: 25% on the first anniversary of the Grant Date, and 25% on each succeeding anniversary of the Grant Date until all options have been vested, provided that the Optionee is continuously providing Services
to the Company or a Company Affiliate through the applicable Vesting Date. The shares of Stock may be purchased at any time after they become vested, in whole or in part, during the Option Period; provided, however, the Option may only be
exercisable to acquire whole shares of Stock. The right of exercise provided herein shall be cumulative so that if the Option is not exercised to the maximum extent permissible after vesting, the vested portion of the Option shall be exercisable, in
whole or in part, at any time during the Option Period. 
 6. Method of Exercise. The Option is exercisable by delivery of a
written notice to the Secretary of the Company, at the address for notices to the Company provided below, signed by the Optionee, specifying the number of shares of Stock to be acquired on, and the effective date of, such exercise. The Optionee may
withdraw notice of exercise of this Option, in writing, at any time prior to the close of business on the business day preceding the proposed exercise date.  

7. Restrictions on Exercise. The Option may not be exercised if the issuance of such Stock or the method of payment of the
consideration for such Stock would constitute a violation of any applicable federal or state securities or other laws or regulations, including any laws or regulations or Company policies respecting blackout periods, or any rules or regulations of
any stock exchange on which the Stock may be listed. 

 8. Termination of Employment. Voluntary or involuntary termination of the Optionee
as an Employee of the Company and its Affiliates or any successor thereto shall affect Optionee’s rights under the Option as provided in Section 9 of the Plan. 

9. Independent Legal and Tax Advice. Optionee acknowledges that the Company has advised Optionee to obtain independent legal and
tax advice regarding the grant and exercise of the Option and the disposition of any Stock acquired thereby. 
 10. No Rights
in Stock. Subject to the terms of the Plan, Optionee shall have no rights as a stockholder until the Optionee becomes the record holder of such Stock. 

11. Investment Representation. Optionee will enter into such written representations, warranties and agreements as Company may
reasonably request in order to comply with any federal or state securities law. Moreover, any stock certificate for any Stock issued to Optionee hereunder may contain a legend restricting their transferability as determined by the Company in its
discretion. Optionee agrees that Company shall not be obligated to take any affirmative action in order to cause the issuance or transfer of Stock hereunder to comply with any law, rule or regulation that applies to the Stock subject to the Option.

 12. No Guarantee of Employment or Services. The Option shall not confer upon Optionee any right to continued employment or
Services with the Company or any Company Affiliate. 
 13. Withholding of Taxes. The Option is subject to and the Company
shall have the right to take any action as may be necessary or appropriate to satisfy any federal, state, or local (foreign and domestic) tax and withholding obligations upon exercise of the Option. The Committee has determined in connection with
this Award that the Company may withhold that number of shares of Stock otherwise deliverable to the Participant upon the exercise of the Option, having a Fair Market Value on the date of exercise equal to the minimum amount required to be withheld
for taxes as a result of such exercise. If the number of shares so determined shall include a fractional share, the Participant shall deliver cash in lieu of such fractional share. Any election to satisfy withholding for taxes in some other manner
shall be made in a form approved by the Committee and shall be subject to disapproval, in whole or in part by the Committee. 
 14.
General. 
 (a) Notices. All notices under this Agreement shall be mailed or delivered by
hand to the parties at their respective addresses set forth beneath their signatures below or at such other address as may be designated in writing by either of the parties to one another. Notices shall be effective upon receipt. 

(b) Nontransferability of Option. The Option granted pursuant to this Agreement is not transferable other than by
will or by the laws of descent and distribution or by a qualified domestic relations order (as defined in Section 4l4(p) of the Internal Revenue Code). The Option will be exercisable during Optionee’s lifetime only by Optionee or by
Optionee’s legal representative in the event of Optionee’s Disability. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, obligations or torts of Optionee. 

  
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Par/Incentive Compensation/Nonstatutory Stock Option Agreement/Template/Eight Year 

 (c) Amendment and Termination. No amendment, modification or
termination of the Option or this Agreement shall be made at any time without the written consent of Optionee and Company. 

(d) No Guarantee of Tax Consequences, Legal Consult. The Company and the Committee make no commitment or
guarantee that any federal or state tax treatment will apply or be available to any person eligible for benefits under the Option. The Optionee has been advised and been provided the opportunity to obtain independent legal and tax advice regarding
this Award including, without limitation, with respect to the grant and exercise of the Option and the disposition of any Stock acquired thereby. 

(e) Severability. In the event that any provision of this Agreement shall be held illegal, invalid, or
unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of the Agreement, and the Agreement shall be construed and enforced as if the illegal, invalid, or unenforceable provision had not
been included herein. 
 (f) Supersedes Prior Agreements. This Agreement shall supersede and replace all prior
agreements and understandings, oral or written, between the Company and the Optionee regarding the grant of the Options covered hereby. 

(g) Governing Law. The Option shall be construed in accordance with the laws of the State of Delaware without
regard to its conflict of law provisions, to the extent federal law does not supersede and preempt Delaware law and venue shall be in Harris County, Texas. 

15. Counterparts: This Agreement may be executed in multiple original counterparts, each of which shall be deemed an original,
but all of which together shall constitute but one and the same instrument. 
 [SIGNATURE PAGE FOLLOWS] 

  
 3 

Par/Incentive Compensation/Nonstatutory Stock Option Agreement/Template/Eight Year 

 IN WITNESS WHEREOF, the Company, as of the Grant Date has caused this Agreement to be executed on
its behalf by its duly authorized officer and Optionee has hereunto executed this Agreement as of the same date. 
  

			
	PAR PETROLEUM CORPORATION
		
	By:		  

	Name:		Brice Tarzwell
	Title:		Senior Vice President and Chief Legal Officer
	
	OPTIONEE:
	
	  

	Signature
	
	  

	Printed Name
	Address:

  
 4 

Par/Incentive Compensation/Nonstatutory Stock Option Agreement/Template/Eight Year

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