Document:

Registration Rights Agreement, dated August 20, 2004

 Exhibit 10.10 
  
 REGISTRATION RIGHTS AGREEMENT 
  
 THIS REGISTRATION RIGHTS AGREEMENT (the “Agreement”) is entered into as of August 20, 2004 by and among Core-Mark Holding Company, Inc.,
a Delaware corporation (the “Company”) and the parties listed on Schedule I attached hereto (“Investors”). 
  
 RECITALS 
  
 WHEREAS, the Investors have agreed to acquire warrants (the “Warrants”) to purchase shares of Common Stock from the Company pursuant to a
Note and Warrant Purchase Agreement dated as of August 20, 2004 (the “Purchase Agreement”); and 
  
 WHEREAS, the Company and the Investors wish to provide for certain arrangements with respect to the registration of shares of common stock of the Company
under the Securities Act. 
  
 AGREEMENT 
  
 NOW, THEREFORE, in consideration of the mutual promises and obligations
contained herein, the parties agree as follows: 
  
 1. CERTAIN
DEFINITIONS. As used in this Agreement, the following terms will have the following respective meanings: 
  
 “Agreement” is defined in the Preamble. 
  
 “Business Day” means any day that is not a Saturday, a Sunday or a day on which banks in the State of New York are generally closed for
business. 
  
 “Commission” means the Securities
and Exchange Commission, or any other federal agency at the time administering the Securities Act or the Exchange Act. 
  
 “Common Stock” means the common stock, $.001 par value, of the Company. 
  
 “Company” is defined in the Preamble. 
  
 “Covered Person” is defined in Section 5.1 of this Agreement. 
  
 “Exchange Act” means the Securities Exchange Act of 1934,
and any successor to such statute, and the rules and regulations of the Commission issued under such Act, as they each may, from time to time, be amended and in effect. 

 “Holder” means any Person owning Registrable Shares or any Permitted Transferee thereof
in accordance with Section 6.2 hereof. 
  
 “Investors” is defined in the Preamble. 
  
 “Permitted Transferee” is defined in Section 6.2. 
  
 “Person” means any individual, partnership, corporation, company, association, trust, joint venture, limited liability company, unincorporated organization, entity or division, or any government,
governmental department or agency or political subdivision thereof. 
  
 “Public Offering” means a public offering and sale of Common Stock for cash pursuant to an effective Registration Statement. 
  
 “Purchase Agreement” is defined in the Recitals. 
  

“Register,” “registered,” and “registration” refer to a registration effected by preparing and
filing a registration statement or similar document in compliance with the Securities Act and the automatic effectiveness or the declaration or ordering of effectiveness of such Registration Statement or similar document. 
  
 “Registrable Shares” means any Common Stock issued or
issuable upon exercise of the Warrants to an Investor or a Permitted Transferee, including by way of stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation, other reorganization or
otherwise. 
  
 “Registration Expenses” means all
expenses incurred by the Company in complying with Section 2 hereof, including, without limitation, all registration and filing fees, listing fees, all fees and expenses of complying with securities or blue sky laws, all printing expenses, fees and
disbursements of counsel for the Company and its independent public accountants, including the expenses of any special audits required by or incident to such performance and compliance, and legal fees and disbursements of one counsel for the Selling
Holders, but excluding underwriting discounts, selling commissions, applicable transfer taxes, if any. 
  
 “Registration Statement” means a registration statement filed by the Company with the Commission for a Public Offering under the
Securities Act (other than a registration statement on Form S-8 or Form S-4, or their successors, or any other form for a similar limited purpose). 
  
 “Rule 144” means Rule 144 under the Securities Act, and any successor rule or regulation thereto, and in the case of any referenced
section of such rule, any successor section thereto, collectively and as from time to time amended and in effect. 
  

 2 

 “Securities Act” means the Securities Act of 1933, and any successor to such statute,
and the rules and regulations of the Commission issued under such Act, as they each may, from time to time, be amended and in effect. 
  
 “Selling Holder” means any Holder on whose behalf Registrable Shares are registered pursuant to Section 2 hereof. 
  
 “Warrants” is defined in the Recitals. 
  
 2. INCIDENTAL REGISTRATION. 
  
 2.1 Company Registration. If at any time the Company proposes to
register any of its equity securities under the Securities Act, for its own account or for the account of any holder of its securities other than Registrable Shares, on a form that would permit registration of Registrable Shares for sale to the
public under the Securities Act, then prior to such filing the Company will give written notice to all Holders of its intention to do so, and upon the written request of a Holder or Holders given within 20 days after the Company provides such notice
(which request will state the intended method of disposition of such Registrable Shares), the Company will use its reasonable best efforts to cause all Registrable Shares that the Company has been requested to register to be registered under the
Securities Act to the extent necessary to permit their sale or other disposition in accordance with the intended methods of distribution specified in the request of such Holder(s); provided, that, the Company will have the right to
postpone or withdraw any registration initiated by the Company pursuant to this Section 2.1 without obligation to any Holder. 
  
 2.2 Excluded Transactions. The Company will not be obligated to effect any registration of Registrable Shares under this Section 2 incidental to
the registration of any of its securities in connection with: (a) any Public Offering relating to employee benefit plans or dividend reinvestment plans; or (b) any Public Offering relating to the acquisition or merger after the date hereof by the
Company or any of its subsidiaries of or with any other businesses. 
  
 3.
REGISTRATION PROCEDURES. If and whenever the Company is required by the provisions of this Agreement to use its reasonable best efforts to effect the registration of any of the Registrable Shares under the Securities Act, the Company and the
Selling Holders will take the actions described below in this Section 3. 
  
 3.1. Amendments and Supplements. The Company will prepare and file with the Commission such amendments and supplements to such Registration Statement and the prospectus used in connection therewith as may be
necessary to keep such Registration Statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all Registrable Shares and other securities, if any, covered by such Registration Statement until such
time as all of such Registrable Shares 

  

 3 

 
have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such Registration Statement.

  
 3.2 Cooperation. The Company will use its reasonable
best efforts to cooperate with the Selling Holders in the disposition of the Common Stock covered by such Registration Statement. 
  
 3.3 Copies of Prospectus. The Company will furnish to each Selling Holder such reasonable numbers of copies of the prospectus, including a
preliminary prospectus, in conformity with the requirements of the Securities Act, and such other documents as the Selling Holder may reasonably request in order to facilitate the public sale or other disposition of the Registrable Shares owned by
the Selling Holder. 
  
 3.4 Blue Sky Qualification. The
Company will use its reasonable best efforts to register or qualify the Registrable Shares covered by the Registration Statement under the securities or blue sky laws of such states as the Selling Holder reasonably requests, and do any and all other
acts and things that may be necessary or desirable to enable the Selling Holder to consummate the public sale or other disposition in such jurisdictions of the Registrable Shares covered by the Registration Statement; provided,
however, that the Company will not be obligated to file any general consent to service of process or to qualify as a foreign corporation in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing
business in any jurisdiction in which it would not otherwise be so subject. 
  
 3.5 Listing and Transfer Agent. The Company will use its reasonable best efforts to cause all Registrable Shares covered by the Registration Statement to be listed on each securities exchange or automated
quotation system on which similar securities issued by the Company are then listed. The Company will use its reasonable best efforts to provide and cause to be maintained a transfer agent and registrar for all Registrable Shares covered by the
Registration Statement not later than the effective date of such Registration Statement. 
  
 3.6 Notice of Prospectus Defects. The Company will immediately notify the Selling Holders of the happening of any event, as a result of which the prospectus included or to be included in the Registration
Statement includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. In the event the
Company prepares a revised prospectus, the Company will promptly deliver copies of such revised prospectus to the Selling Holders. Following receipt of the revised prospectus, the Selling Holders will be free to resume making offers of the
Registrable Shares. 
  

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 4. CERTAIN OTHER PROVISIONS. 
  
 4.1. Additional Procedures. Selling Holders will take all such actions and execute all such documents and instruments
that are reasonably requested by the Company to effect the sale of their shares in such Public Offering, including, without limitation, being parties to the underwriting agreement entered into by the Company and any other Selling Holders in
connection therewith; provided, however, that the aggregate amount of any liability of any Selling Holder pursuant to such underwriting or other agreement will not exceed such Selling Holder’s net proceeds from such offering. In
addition, each Selling Holder will furnish to the Company such information regarding such Selling Holder and the distribution proposed by such Selling Holder as the Company may reasonably request in writing and as will be required in connection with
any registration, qualification or compliance referred to in Section 3. 
  
 4.2. Underwriter’s Cutback. Notwithstanding any other provision of this Agreement, if the managing underwriter determines that the inclusion of all shares requested to be registered in an underwritten offering would adversely
affect the offering, the Company may limit the number of Registrable Shares to be included in the Registration Statement for such offering. To the extent that the underwritten offering is being made at the request of a stockholder exercising demand
registration rights, the number of shares that are entitled to be included in the Registration Statement for such offering will be allocated in the following manner: (w) first, shares of Company equity securities, other than Registrable Shares and
shares owned by a stockholder or stockholders exercising demand registration rights, will be excluded, (x) second, shares of Company equity securities that the Company desires to include in such registration will be excluded, (y) third, Registrable
Shares requested to be included in such registration by Holders will be excluded and (z) fourth, shares of Company equity securities requested to be included by the stockholder or stockholders exercising demand registration rights will be excluded.
In the case of any other underwritten offering, the number of shares that are entitled to be included in the Registration Statement for such offering will be allocated in the following manner: (x) first, shares of Company equity securities, other
than Registrable Shares, requested to be included in such registration by shareholders will be excluded, (y) second, Registrable Shares requested to be included in such registration by Holders will be excluded and (z) third, shares of Company equity
securities that the Company desires to include in such registration will be excluded. To the extent that the underwriters do not deem it necessary to exclude all of the shares requested to be registered by any category of shareholders contemplated
above, the number of shares that may be included in the registration will be allocated to the members of such category requesting registration in proportion, as nearly as practicable, to the respective number of shares of Common Stock (assuming
conversion of any convertible securities held by such shareholders) that they held at the time the Company gives the notice specified in Section 2. 
  

 5 

 4.3. Registration Expenses. The Company hereby agrees to pay all Registration Expenses in
connection with all registrations effected pursuant to this Agreement. 
  
 4.4. Termination of Status as Registrable Shares. Registrable Shares will cease to be Registrable Shares and cease to have the rights accorded to such shares under this Agreement upon the earliest to occur of the following events:
(x) such shares shall have been sold pursuant to an effective Registration Statement under the Securities Act or (y) such shares shall have been sold pursuant to a transaction under Rule 144. 
  
 4.5. Limitations on Subsequent Registration Rights. The Company will
not, without the prior written consent of Holders of at least a majority of the Registrable Shares, enter into any agreements with any holder or prospective holder of Company securities that grant such holder or prospective holder piggyback
registration rights to include securities of the Company in any Registration Statement, unless such rights are subordinated to the rights granted to the Holders under this Agreement, including, without limitation, by providing that the holders of
such subordinated rights shall have the number of shares of their Company securities requested to be included in a Registration Statement (in connection with an exercise of such piggyback registration rights) reduced pursuant to any
underwriters’ cut-back provision before the Holders suffer any reduction in the number of Registrable Shares that they are permitted to include in such registration. 
  
 5. INDEMNIFICATION. 
  
 5.1. Company Indemnification. In the event of any registration of any of the Registrable Shares under the Securities Act pursuant to this
Agreement, then to the extent permitted by law, the Company will indemnify and hold harmless each Selling Holder, its partners, directors and officers and each other Person, if any, who controls such Selling Holder within the meaning of the
Securities Act or the Exchange Act (each such Person being a “Covered Person”) against any losses, claims, damages or liabilities, joint or several, to which such Covered Person may become subject under the Securities Act, the
Exchange Act, state securities laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (a) any untrue statement or alleged untrue statement of any material fact
contained in any Registration Statement under which such Registrable Shares were registered under the Securities Act, any preliminary or final prospectus contained in the Registration Statement, or any amendment or supplement to such Registration
Statement or (b) the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and the Company will reimburse such Covered Person for any legal or any other
expenses reasonably incurred by such Covered Person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable to any Covered Person in any
such case (x) to the extent that any such loss, claim, damage or liability arises out of or is based upon any untrue statement or omission made in such Registration Statement 

  

 6 

 
or prospectus, or any such amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by or on behalf
of such Covered Person specifically for use in the preparation thereof or (y) in the case of a sale directly by a Selling Holder (including a sale of such Registrable Shares through any underwriter retained by such Selling Holder engaging in a
distribution solely on behalf of such Selling Holder), such untrue statement or omission was contained in a preliminary prospectus and corrected in a final or amended prospectus, and such Selling Holder failed to deliver a copy of the final or
amended prospectus at or prior to the confirmation of the sale of the Registrable Shares to the person asserting any such loss, claim, damage or liability in any case in which such delivery is required by the Securities Act. 
  
 5.2. Seller Indemnification. In the event of any registration of any
of the Registrable Shares under the Securities Act pursuant to this Agreement, then to the extent permitted by law, each Selling Holder will indemnify and hold harmless the Company, each of its directors and officers and each Person (other than such
Selling Holder), if any, who controls the Company within the meaning of the Securities Act or the Exchange Act, against any losses, claims, damages or liabilities to which the Company, such directors and officers, or controlling person may become
subject under the Securities Act, Exchange Act, state securities laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (a) any untrue statement of a material fact
contained in any Registration Statement under which such Registrable Shares were registered under the Securities Act, any preliminary or final prospectus contained in the Registration Statement, or any amendment or supplement to the Registration
Statement or (b) the omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading, if the statement or omission was made in reliance upon and in conformity with information furnished in
writing to the Company by or on behalf of such Selling Holder, specifically for use in connection with the preparation of such Registration Statement, prospectus, amendment or supplement; provided, however, that the obligations of such
Selling Holder hereunder will be limited to an amount equal to the net proceeds to such Selling Holder (after deducting all underwriter’s discounts and commissions and all other expenses paid by such Holder in connection with the registration
in question) from the disposition of Registrable Shares pursuant to such registration. 
  
 5.3. Notice of Claims, etc. Promptly after receipt by an indemnified party of notice of the commencement of any action or proceeding involving a claim of the type referred to in the foregoing provisions of this
Section 5, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party, give written notice to each such indemnifying party of the commencement of such action; provided, however, that the
failure of any indemnified party to give such notice will not relieve such indemnifying party of its obligations under this Section 5, except to the extent that such indemnifying party is materially prejudiced by such failure. In case any such
action is brought against an indemnified party, each indemnifying party will be entitled to participate in and to assume the defense thereof, jointly with any other indemnifying party similarly notified, to the extent that it may wish, with counsel
reasonably 

  

 7 

 
satisfactory to such indemnified party, and (subject to the following sentence) after notice from an indemnifying party to such indemnified party of its
election so to assume the defense thereof, such indemnifying party will not be liable to such indemnified party for any legal or other expenses subsequently incurred by the latter in connection with the defense thereof. The indemnified party may
participate in such defense at such party’s expense; provided, however, that the indemnifying party will pay such expense if representation of such indemnified party by the counsel retained by the indemnifying party would be
inappropriate due to actual or potential conflict of interests between the indemnified party and any other party represented by such counsel in such proceeding; provided, further, in no event will the indemnifying party be required to
pay the expenses of more than one law firm as counsel for all indemnified parties pursuant to this sentence. If, within 30 days after receipt of the notice, such indemnifying party has not elected to assume the defense of the action, such
indemnifying party will be responsible for any legal or other expenses reasonably incurred by such indemnified party in connection with the defense of the action, suit, investigation, inquiry or proceeding. An indemnifying party may, in the defense
of any such claim or litigation, consent to the entry of a judgment or enter into a settlement without the consent of the indemnified party only if such judgment or settlement contains a general release of the indemnified party in respect of such
claims or litigation. 
  
 5.4. Contribution. If the
indemnification provided for in Sections 5.1 or 5.2 hereof is unavailable to a party that would have been an indemnified party under any such Section in respect of any losses, claims, damages or liabilities (or actions or proceedings in respect
thereof) referred to therein, then each party that would have been an indemnifying party thereunder will, in lieu of indemnifying such indemnified party, contribute to the amount paid or payable by such indemnified party-as a result of such losses,
claims, damages or liabilities (or actions or proceedings in respect thereof) in such proportion as is appropriate to reflect the relative fault of such indemnifying party on the one hand and such indemnified party on the other in connection with
the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions or proceedings in respect thereof). The relative fault will be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by such indemnifying party or such indemnified party and the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission. The parties agree that it would not be just and equitable if contribution pursuant to this Section 5.4 were determined by pro rata allocation or by any other method of allocation that
does not take account of the equitable considerations referred to in the preceding sentence. The amount paid or payable by a contributing party as a result of the losses, claims, damages or liabilities (or actions or proceedings in respect thereof)
referred to in this Section 5.4 will include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. No Person guilty of fraudulent misrepresentation (within
the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 
  

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 6. MISCELLANEOUS. 
  
 6.1. Reports under the Exchange Act. With a view to making available to the Holders the benefits of Rule 144 promulgated under the Securities Act
and any other rule or regulation of the Commission that may at any time permit such Holder to sell securities of the Company to the public without registration, at all times following the earliest to occur of (i) July 1, 2005, (ii) 30 days following
the completion of the Company’s audit for the year ended December 31, 2004, and (iii) the date on which the Company meets the listing standards for a national stock exchange or for quotation on NASDAQ, the Company agrees to use its reasonable
best efforts to: 
  
 (a) make and keep public
information available, as those terms are understood and defined in Rule 144 under the Securities Act; 
  
 (b) file with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the
Exchange Act; 
  
 (c) include in all reports and
other documents filed with the Commission a statement to the effect that the Company (i) has filed all reports required to be filed under the Exchange Act during the prior 12 months (or such shorter period that the Company was required to file such
reports) and (ii) has been subject to the reporting requirements for the past 90 days (or such shorter period that the Company was required to file such reports); and 
  
 (d) furnish to any Holder forthwith upon request (i) a copy of the most recent annual or quarterly report of
the Company and such other reports and documents so filed by the Company and (ii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC which permits the selling of any such securities
without registration or pursuant to such form. 
  
 6.2.
Transfer of Rights. The rights to cause the Company to register Registrable Shares pursuant to Section 2 may be assigned by any Holder to a Permitted Transferee (as defined below), and by such Permitted Transferee to a subsequent Permitted
Transferee, but only if such rights are transferred (a) to an affiliate, partner or stockholder of such Holder or (b) in connection with the sale or other transfer of not less than an aggregate of 10,000 Registrable Shares or some lesser number, if
such lesser number represents all the Registrable Shares then held by such Holder. Any transferee to whom rights under this Agreement are transferred will (x) as a condition to such transfer, deliver to the Company a written instrument by which such
transferee agrees to be bound by the obligations imposed upon Holders under this Agreement to the same extent as if such transferee were a Holder under this Agreement and (y) be deemed to be a Holder hereunder. Any Person to whom rights under this
Agreement are transferred in accordance with this Section 6.2 shall be a “Permitted Transferee.” 
  

 9 

 6.3. Governing Law. This Agreement, the rights of the parties and all claims, actions, causes of
action, suits, litigation, controversies, hearings, charges, complaints or proceedings arising in whole or in part under or in connection herewith, will be governed by and construed in accordance with the domestic substantive laws of the State of
New York, without giving effect to any choice or conflict of law provision or rule that would cause the application of the laws of any other jurisdiction. 
  
 6.4. Entire Agreement: Amendment and Waiver. This Agreement, together with any documents, instruments and certificates explicitly referred to
herein, constitutes the entire agreement among the parties hereto with respect to the subject matter hereof and supersedes any and all prior discussions, negotiations, proposals, undertakings, understandings and agreements, whether written or oral,
with respect thereto. Any term of this Agreement may be amended or terminated and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) with the written
consent of the Company and the holders of at least a majority of the Registrable Shares; provided, however, that any such amendment or waiver treats all holders the same (without regard •to any differences in effect that such
amendment or waiver may have on the Holders due to the differing amounts of Registrable Shares held by such Holders). Any such amendment, termination or waiver will be binding on all Holders. 
  
 6.5. Determination of Number or Percentage of Registrable Shares.
Wherever reference is made in this Agreement to a request or consent of holders of a certain number or percentage of Registrable Shares, the determination of such number or percentage will include the number of shares of Common Stock outstanding
that are, and the maximum number of shares of Common Stock issuable pursuant to then convertible or exercisable securities that upon issuance would be, Registrable Shares. 
  
 6.6. Notices. All notices, requests, demands, claims and other communications required or permitted to be delivered,
given or otherwise provided under this Agreement must be in writing and must be delivered, given or otherwise provided: 
  
 (a) by hand (in which case, it will be effective upon delivery); 
  
 (b) by facsimile (in which case, it will be effective upon receipt of confirmation of good transmission); or

  
 (c) by overnight delivery by a nationally
recognized courier service (in which case, it will be effective on the Business Day after being deposited with such courier service; 
  

 10 

 in each case, to the address (or facsimile number) listed below: 
  
 If to the Company, to it at: 
  
 c/o Core-Mark International, Inc. 
 395 Oyster Point Boulevard 
 Suite 415 
 South San Francisco, California 94080-1932 
 Telephone number: (650) 589-9445 
 Facsimile number: (650) 589-4010 
 Attention: 
  
 with a copy to: 
  
 Kirkland
& Ellis LLP 
 777 South Figueroa Street, Suite 3400 
 Los Angeles, California 90017 
 Telephone number: (213) 680-8508 
 Facsimile number: (213) 808-8229 
 Attention:        Eva H. Davis 
  
 If to an Investor, to it at the address set forth on Exhibit A hereto with a copy to: 
  
 Ropes & Gray LLP 
 One International Place

 Boston, Massachusetts 02110 
 Telephone number: (617) 951-7000 
 Facsimile number: (617) 951-7050 
 Attention:        Alyson E.G. Allen 
  
 Each of the parties to this Agreement may specify different address or facsimile number by giving notice in accordance with this Section 6.6
to each of the other parties hereto. 
  
 6.7. Binding Effect;
Assignment. This Agreement will be binding upon and inure to the benefit of the personal representatives, successors and assigns of the respective parties hereto. 
  
 6.8. Severability. If any provision of this Agreement is found by any court of competent jurisdiction to be invalid
or unenforceable, the parties hereby waive such provision to the extent that it is found to be invalid or unenforceable. Such provision will, to the maximum extent allowable by law, be modified by such court so that it becomes enforceable, and, as
modified, will be enforced as any other provision hereof, all the other provisions hereof continuing in full force and effect. 
  
 6.9. Headings. The headings contained in this Agreement are for convenience purposes only and will not in any way affect the meaning or
interpretation hereof. 
  

 11 

 6.10. Counterparts. This Agreement may be executed in any number of counterparts, each of which
will be deemed an original, but all of which together will constitute but one and the same instrument. 
  

 12 

 IN WITNESS WHEREOF, the parties have executed this Agreement under seal as of the date first above
written. 
  

	
	 CORE-MARK HOLDING
 COMPANY, INC.

	
	/S/    J. MICHAEL
WALSH        .
	 J. Michael Walsh
 Officer

  

	
	 PROSPECT HARBOR CREDIT
 PARTNERS, L.P.

	
	 
	 Name:
 Title:

  

	
	 SANKATY CREDIT
 OPPORTUNITIES, L.P.

	
	 
	 Name:
 Title:

  

	
	 SANKATY HIGH YIELD
 ASSET PARTNERS, L.P.

	
	 
	 Name:
 Title:

  

	
	 SANKATY HIGH YIELD
 PARTNERS II, L.P.

	
	 
	 Name:
 Title:

  

 (Registration Rights Agreement Signature Page) 

			
	 PROSPECT HARBOR CREDIT PARTNERS L.P.

	
	/S/    JONATHAN
LAVINE        
	 Name:
	 	Jonathan Lavine
	 Title:
	 	Managing Director

  

			
	 SANKATY CREDIT
 OPPORTUNITIES, L.P.

	
	/S/    JONATHAN LAVINE
        
	 Name:
	 	Jonathan Lavine
	 Title:
	 	Managing Director

  

			
	 SANKATY HIGH YIELD
 AS SET PARTNERS, L.P.

	
	/S/    JONATHAN LAVINE
        
	 Name:
	 	Jonathan Lavine
	 Title:
	 	Managing Director

  

			
	 SANKATY HIGH YIELD
 PARTNERS II, L.P.

	
	/S/    JONATHAN LAVINE
        
	 Name:
	 	Jonathan Lavine
	 Title:
	 	Managing Director

  

			
	 SANKATY HIGH YIELD
 PARTNERS III, .L.P.

	
	/S/    JONATHAN LAVINE
        
	 Name:
	 	Jonathan Lavine
	 Title:
	 	Managing Director

  

 (Registration Rights Agreement Signature Page) 

	
	 WELLS FARGO BANK, N.A.

	
	/S/    PETA
SWIDLER        
	 Peta Swidler
 Senior Vice-President

  

 (Registration Rights Agreement Signature Page) 

			
	 CANPARTNERS
 INVESTMENTS IV, LLC

	
	    /S/    JOSHUA S.
FRIEDMAN
	 Name:
	 	Joshua S. Friedman
	 Title:
	 	Managing Partner

  

 (Registration Rights Agreement Signature Page) 

			
	 RGIP LLC

	
	    /S/    R. BRADFORD
MALT
	 Name:
	 	R. Bradford Malt
	 Title:
	 	Managing Member

  

 (Registration Rights Agreement Signature Page) 

	
	 GOLDMAN, SACHS & CO.

	
	/S/    RICHARD
KATZ        
	 Richard Katz
 Managing Director

  

 (Registration Rights Agreement Signature Page) 

 Schedule 1 
  
 NAMES AND ADDRESSES OF INVESTORS 
  
 Sankaty High Yield Asset Partners, L.P. 
 Sankaty High Yield Partners II, L.P.

 Sankaty High Yield Partners III, L.P. 
 Sankaty Credit
Opportunities, L.P. 
 Prospect Harbor Credit Partners, L.P. 
 c/o
Sankaty Advisors, LLC 
 111 Huntington Avenue 
 Boston, MA 02199

	Attn:  	Tim Barns and Nathan Gilliland 

  
 RGIP, LLC 
 c/o Ropes & Gray LLP 
 One International Place 
 Boston, MA 02110 

	Attn:  	R. Bradford Malt 

  
 Goldman, Sachs & Co. 
 85 Broad Street, 29th Floor 
 New York, NY 10004 

	Attn:  	Richard Katz 

  
 Canpartners Investments IV, LLC 
 c/o Canyon Capital Advisors LLC 
 9665 Wilshire Blvd, Suite 200 
 Beverly Hills, CA 90212 
  
 Wells Fargo Bank, N.A. 
 201 3rd Street, 8th Floor 
 San Francisco, CA 94103 

	Attn:  	Jeffrey GeeForm of Common Stock Purchase Warrant

 Exhibit 10.12 
  
 THE WARRANT REPRESENTED BY THIS CERTIFICATE WAS ISSUED IN A PRIVATE PLACEMENT, WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “ACT”), AND MAY NOT BE SOLD, ASSIGNED, PLEDGED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT COVERING THE TRANSFER OR IN A TRANSFER EXEMPT FROM THE REGISTRATION REQUIREMENTS OF
THE ACT. 
  

					
	 	  	 	  	 Right to Purchase
                     shares of
 common stock of
Core-Mark Holding
 Company, Inc.

  
 COMMON STOCK
PURCHASE WARRANT 
  
 CORE-MARK HOLDING COMPANY, INC.

  
 August 23, 2004 
  
 Core-Mark Holding Company, Inc., a Delaware corporation (the
“Company”), HEREBY CERTIFIES that, for value received,                      (together with its assigns, the “Holder”), is
entitled, subject to the terms set forth below, to purchase from the Company at any time or from time to time during the Exercise Period, up to
                     shares (the “Warrant Shares”) of Common Stock of the Company, at a purchase price per share of
                     (such purchase price per share as adjusted from time to time as herein provided is referred to herein as the
“Exercise Price”). The Warrant Shares have been duly authorized and, when issued in accordance with the terms of the Warrant, shall be validly issued, and upon receipt by the Company of the Exercise Price, fully paid and nonassessable.

  
 This Warrant is one of the warrants (the
“Warrants”) evidencing the right to purchase shares of Common Stock of the Company issued pursuant to the Note and Warrant Purchase Agreement dated August 20, 2004 (as amended and in effect from time to time, the
“Agreement”) between the Company and the other Issuers party thereto, Wells Fargo Bank, N.A., as Agent and LC Backstop Provider and the Purchasers listed therein. (A copy of the Agreement is available upon request to the Company). The
Holder shall be entitled to all of the benefits and subject to the restrictions reflected in the Agreement. 
  

	1.	Definitions. 

  
 Capitalized terms used herein but not otherwise defined herein shall have the meanings provided for them in the Agreement. As used herein, the following
terms, unless the context otherwise requires, have the following respective meanings: 
  

	 	(a)	“Company” means Core-Mark Holding Company, Inc. and any entity which shall succeed to, or assume the obligations of the Company hereunder.

  

 1 

	 	(b)	“Common Stock” means (i) the Company’s Common Stock, par value $0.01 per share, as authorized on the date of the Note and Warrant Purchase Agreement,
(ii) any other capital stock of any class or classes (however designated) of the Company, authorized on or after the date hereof, the holders of which shall have the right, without limitation as to amount per share, either to all or to a share of
the balance of current dividends and liquidating distributions after the payment of dividends and distributions on any shares entitled to preference in the payment thereof, and (iii) any other securities into which or for which any of the securities
described in (i) or (ii) above may be converted or exchanged pursuant to a plan of recapitalization, reorganization, merger, sale of assets or otherwise. 

  

	 	(c)	“Common Stock Equivalents” means any warrant, option, subscription or purchase right with respect to shares of Common Stock, any security convertible into,
exchangeable for, or otherwise entitling the holder thereof to acquire, shares of Common Stock or any warrant, option, subscription or purchase right with respect to any such convertible, exchangeable or other security. 

  

	 	(d)	“Excluded Securities” means (i) warrants or options that are outstanding as of the date hereof and warrants and options that may be granted in the future pursuant
to (A) the 2004 Core-Mark Holding Company, Inc. Long Term Incentive Plan or (B) the 2004 Core-Mark Holding Company, Inc. Directors Incentive Plan, (ii) warrants issued on the date hereof to the holders of Class 6(b) claims pursuant to the
Debtors’ and Official Committee of Unsecured Creditors’ Third Amended Revised Joint Plan of Reorganization of Fleming Companies, Inc. and its Filing Subsidiaries under Chapter 11 of the United States Bankruptcy Code in the bankruptcy cases
of Fleming Companies, Inc. and its filing subsidiaries filed in the United States Bankruptcy Court for the District of Delaware, Case No, 03-10945 (MFW), (iii) any securities issued pursuant to any agreement entered into by the Company or any of its
subsidiaries for the acquisition of another business (whether by stock purchase or assets purchase, merger or otherwise), and (iv) any securities issued pursuant to an underwritten public offering. 

  

	 	(e)	“Exercise Period” has the meaning specified in Section 18 hereof. 

  

	 	(f)	“fair market value” per share of the Company’s Common Stock means: 

  

	 	(i)	 If the Common Stock is traded on a national securities exchange, the Toronto Stock Exchange or admitted to unlisted trading privileges on such an exchange, or is
listed on the NASDAQ National Market, the fair market value shall be the weighted average intraday trading price of the Common Stock on such exchange or on the NASDAQ during the 20 trading days ending two trading days immediately preceding the
effective date of exercise or deemed exercise (including by net issue election) as 

  

 2 

	 	 
reported by Bloomberg; however, if the weighted average intraday trading price is not available, then the fair market value shall be the average closing
price (or if no sale is made, the mean of the closing bid and asked prices) of the Common Stock on such exchange or on the NASDAQ for the 20 trading days ending two trading days immediately preceding the date of exercise or deemed exercise
(including by net issue election); 

  

	 	(ii)	If the Common Stock is not so listed or admitted to unlisted trading privileges, the fair market value shall be the average of the last bid and asked prices reported by the NASDAQ
(or if such reports are unavailable, by the National Quotation Bureau Incorporated or, if such reports are unavailable, the reports of the Over-the-Counter “pink sheets” or the Over-the-Counter Bulletin Board) for the 20 trading days
ending two trading days immediately preceding the effective date of exercise or deemed exercise (including by net issue election); and 

  

	 	(iii)	If the Common Stock is not so listed or admitted to unlisted trading privileges described in the foregoing clauses (i) and (ii) and bid and ask prices described in the foregoing
clauses (i) and (ii) are not reported, the fair market value shall be as determined as of a date not more than 90 days before the effective date of exercise or deemed exercise (including by net issue election) and shall be determined by:

  

	 	(A)	a reputable independent appraisal service selected by the Company for this purpose in the event that (x) fair market value is being calculated for any reason under this Agreement
(other than pursuant to Section 2.4), (y) fair market value is being calculated pursuant to Section 2.4 and a reputable independent appraisal service selected by the Company has not determined the fair market value of Common Stock during the
one-year prior to the effective date of exercise or deemed exercise (including any net issue election) or (z) fair market value is being calculated pursuant to Section 2.4 and the net issue election of Warrants involves underlying Common Stock that
represents one percent (1 %) or more of the Common Stock then outstanding, or 

  

	 	(B)	by the Company’s Board of Directors for all other events not described in the foregoing clauses (x), (y) and (z) of the foregoing clause (A). 

  

	 	(g)	“Issue Date” means August 23, 2004. 

  

 3 

	 	(h)	“Majority Warrantholders” means the Holders of Warrants representing 50.1% of the shares of Common Stock obtainable upon exercise of such Warrants then outstanding.

  

	 	(i)	“Officer” means the Chairman of the Board, the President, any Vice President, the Chief Financial Officer or the Treasurer of the Company. 

 

	 	(j)	“Other Securities” means any stock other than Common Stock and other securities of the Company or any other Person which the Holders of the Warrants at any time
shall be entitled to receive, or shall have received, on the exercise of the Warrants, in lieu of or in addition to Common Stock, or which at any time shall be issuable or shall have been issued in exchange for or in replacement of Common Stock or
other securities pursuant to Section 4 or otherwise. 

  

	 	(k)	“Person” means any individual, corporation, partnership, joint venture, limited liability company, association, joint-stock company, trust, unincorporated
organization, government or any agency or political subdivision thereof or any other entity. 

  

	 	(l)	“Securities Act” means the Securities Act of 1933, as amended, or any successor federal statute, and the rules and regulations thereunder which shall be in effect
at the time. 

  

	 	(m)	“Warrant Agent” has the meaning set forth in Section 13. 

  

	 	(n)	“Warrant Shares” has the meaning specified in the first introductory paragraph hereof. 

  

	2.	Exercise of Warrant, 

  

	 	2.1	Full Exercise. This Warrant may be exercised at any time during the Exercise Period in fill by the Holder by surrender of this Warrant, with the form of subscription at the
end hereof duly executed by such Holder, to the Company at its principal office, or the Warrant Agent, as applicable, accompanied by payment, in cash or by certified or official bank check payable to the order of the Company, in the amount obtained
by multiplying the number of shares of Common Stock for which this Warrant is then exercisable by the Exercise Price then in effect. 

  

	 	2.2	 Partial Exercise. This Warrant may be exercised at any time before its expiration in part by surrender of this Warrant and payment of the Exercise Price then
in effect in the manner and at the place provided in subsection 2,1, except that the amount payable by such Holder on such partial exercise shall be the amount obtained by multiplying (a) the number of shares of Common Stock designated by the Holder
in the subscription at the end hereof by (b) the Exercise Price then in effect. On any such partial exercise the Company, at the Holder’s expense, will forthwith issue and deliver to, or upon the order of, such Holder a new Warrant or Warrants
of like tenor, in the name of such Holder or as such 

  

 4 

	 	 
Holder (upon payment by such Holder of any applicable transfer taxes) may request, calling in the aggregate on the face or faces thereof for the number of
shares of Common Stock for which such Warrant or Warrants may still be exercised. 

  

	 	2.3	Company Acknowledgment. The Company or the Warrant Agent, as applicable, will, at the time of the exercise of this Warrant, upon the request of the Holder hereof acknowledge
in writing its continuing obligation to afford to such Holder any rights to which such Holder shall continue to be entitled after such exercise in accordance with the provisions of this Warrant If the Holder shall fall to make any such request, such
failure shall not affect the continuing obligation of the Company to afford to such Holder any such rights. 

  

	 	2.4	Net Issue Election. The Holder may elect to receive, without the payment by the Holder of any additional consideration, shares equal to the value of this Warrant or
any portion hereof by the surrender of this Warrant or such portion to the Company, at the office of the Company, with the net issue election notice annexed hereto duly executed. Thereupon, the Company shall issue to the Holder such number of fully
paid and nonassessable shares of Common Stock as is computed using the following formula: 

  
 X=Y x (A - B) 
             A 
  
 where 
  

			
	 X =
	  	the total number of shares of Common Stock to be issued to the Holder pursuant to this Section 2.4.
	 Y =
	  	the number of shares of Common Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 2.4.
	 A =
	  	the fair market value of one share of Common Stock.
	 B =
	  	the Exercise Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 2.4.

  

	3.	Delivery of Stock Certificates, etc. on Exercise. As soon as practicable after the exercise of this Warrant in full or in part, and in any event within five (5) business days
thereafter, the Company at its expense (including the payment by it of any applicable issue taxes) will cause to be issued in the name of and delivered to the Holder hereof, or as such Holder (upon payment by such Holder of any applicable transfer
taxes) may direct, a certificate or certificates for the number of filly paid and nonassessable shares of Common Stock (or Other Securities) to which such Holder shall be entitled on such exercise, plus, in lieu of any fractional share to which such
Holder would otherwise be entitled, cash equal to such fraction multiplied by the then current fair market value of one full share, together with any other stock or other securities and property (including cash, where applicable) to which such
Holder is entitled upon such exercise pursuant to Section 2 or otherwise. 

  

 5 

	4.	Adjustment for Dividends in Other Stock. Property. etc. Reclassification. etc. If, at any time or from time to time, the holders of Common Stock (or Other Securities)
in their capacity as such shall have received, or (on or after the record date fixed for the determination of shareholders eligible to receive) shall have become entitled to receive, without payment therefor, other or additional stock or Other
Securities or property (excluding cash) by way of dividend, spin-off, reclassification, recapitalization, combination of shares, similar corporate rearrangement or otherwise, then and in each such case the Holder of this Warrant, shall be entitled
to receive, upon the exercise hereof, the amount of stock and Other Securities and property (excluding cash) which such Holder would have been entitled to receive had the Holder been the holder of record of the number of shares of Common Stock
called for on the face of this Warrant and had thereafter, during the period from the date hereof to and including the date of such exercise, retained such shares and all such other or additional stock and Other Securities and property (excluding
cash) receivable by it as aforesaid during such period, giving effect to all adjustments called for during such period by Sections 5 and 6. 

  

	5.	Adjustment for Reorganization. Consolidation. Merger, etc. 

  

	 	5.1	Reorganization, Consolidation, Merger, etc. If, at any time or from time to time, the Company shall (a) effect a reorganization or reclassification of the Common Stock or
Other Securities (other than a reorganization or reclassification to the extent that such reorganization or reclassification results in an adjustment in the Warrant Price pursuant to Section 6 hereof), (b) consolidate with or merge into any other
Person, or (c) transfer all or substantially all of its properties or assets to any other Person under any plan or arrangement contemplating the dissolution of the Company, then, in each such case, the Holder of this Warrant, on the exercise hereof
as provided in Section 2 at any time after the consummation of such reorganization, consolidation or merger or the effective date of such dissolution, as the case may be, shall receive, in lieu of the Common Stock (or Other Securities) issuable on
such exercise prior to such consummation or such effective date, the stock and Other Securities and property (including cash) to which such Holder would have been entitled upon such consummation or in connection with such dissolution, as the case
may be, if such Holder had so exercised this Warrant, immediately prior thereto, all subject to further adjustment thereafter as provided in Sections 4 and 6. 

  

	 	5.2	Dissolution. In the event of any dissolution of the Company following the transfer of all or substantially all of its properties or assets, the Company, prior to such
dissolution, shall at its expense deliver or cause to be delivered the stock and Other Securities and property (including cash, where applicable) receivable by the Holders of the Warrants (net of the Exercise Price) after the effective date of such
dissolution pursuant to this Section 5 to a bank or trust company having its principal office in Boston, Massachusetts, as trustee for the Holders of the Warrants. 

  

	 	5.3	 Continuation of Terms. Upon any reorganization, consolidation, merger or transfer (and any dissolution following any transfer) referred to in this Section 5,
this Warrant shall continue in full force and effect, subject to expiration in 

  

 6 

	 	 
accordance with Section 18 hereof, and the terms hereof shall be applicable to the shares of stock and Other Securities and property receivable on the
exercise of this Warrant after the consummation of such reorganization, consolidation or merger or the effective date of dissolution following any such transfer, as the case may be, and shall be binding upon the issuer of any such stock or Other
Securities, including, in the case of any such transfer, the Person acquiring all or substantially all of the properties or assets of the Company, whether or not such Person shall have expressly assumed the terms of this Warrant as provided in
Section 7. 

  

	6.	Anti-Dilution Adjustment. 

  

	 	6.1	General. The Exercise Price shall be subject to adjustment from time to time as hereinafter provided. Upon each adjustment of the Exercise Price, the Holder of this Warrant
shall thereafter be entitled to purchase, at the Exercise Price resulting from such adjustment, the number of shares obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the number of shares purchasable
pursuant hereto immediately prior to such adjustment and dividing the product thereof by the Exercise Price resulting from such adjustment. 

  

	 	6.2	Exercise Price Adjustments. If and whenever after the date hereof the Company shall issue or sell any shares of its Common Stock (except for any issuance upon exercise of any
Excluded Security in accordance with the terms thereof or shares issued in transactions to which subsection 6.7 of this Warrant apply) for a consideration per share less than the fair market value of such Common Stock on the date of such issue or
sale, or shall be deemed under the provisions of this Section 6 to have effected any such issuance or sale, then, forthwith upon such issue or sale, the Exercise Price shall be reduced to the price (calculated to the nearest $0.00000l) obtained by
multiplying the Exercise Price in effect immediately prior to the time of such issue or sale by a fraction, (x) the numerator of which shall be the sum of (i) the number of shares of Common Stock and Common Stock issuable upon the exercise of any
Common Stock Equivalents, in each case, outstanding immediately prior to such issue or sale multiplied by the fair market value of such Common Stock immediately prior to such issue or sale, plus (ii) the consideration received by the Company upon
such issue or sale or, as applicable, to be received by the Company upon the exercise of any Common Stock Equivalents, and (y) the denominator of which shall be the product of (i) the total number of shares of Common Stock and Common Stock issuable
upon the exercise of any Other Securities, in each case, outstanding immediately after such issue or sale, multiplied by (ii) the fair market value of such Common Stock immediately prior to such issue or sale. 

  

	 	6.3	 Option Grants. In the event that at any time, the Company shall in any manner want any rights to subscribe for or to purchase, or any options for the
purchase of, Common Stock or any stock or securities convertible into or exchangeable for Common Stock, except for any Excluded Security (such rights or options being herein called “Options” and such convertible or exchangeable stock or
securities being herein called “Convertible Securities”), whether or not such Options or the 

  

 7 

	 	 
right to convert or exchange any such Convertible Securities are immediately exercisable, and the price per share for which Common Stock is issuable upon the
exercise of such Options or upon conversion or exchange of such Convertible Securities (determined by dividing (i) the total amount, if any, received or receivable by the Company as consideration for the granting of such Options, plus the minimum
aggregate amount of additional consideration payable to the Company upon the exercise of all such Options, plus, in the case of any such Options which relate to Convertible Securities, the minimum aggregate amount of additional consideration, if
any, payable upon the issue or sale of such Convertible Securities and upon the conversion or exchange thereof, by (ii) the maximum total number of shares of Common Stock issuable upon the exercise of such Options or upon the conversion or exchange
of such Convertible Securities issuable upon the exercise of such Options) shall be less than the fair market value of such Options, determined as of the date of granting such Options, then the total number of shares of Common Stock issuable upon
the exercise of such Options or upon conversion or exchange of the total amount of such Convertible Securities issuable upon the exercise of such Options shall (as of the date of granting such Options) be deemed to be outstanding and to have been
issued for such price per share. Except as otherwise provided in subsection 6.5, no further adjustment of the Exercise Price shall be made upon the actual issue of such Common Stock or of such Convertible Securities upon exercise of such Options or
upon the actual issue of such Common Stock upon conversion or exchange of such Convertible Securities. 

  

	 	6.4	Convertible Security Grants. In the event that the Company shall in any manner issue or sell any Convertible Securities (other than pursuant to the exercise of Options to
purchase such Convertible Securities covered by subsection 6.3 and other than Excluded Securities), whether or not the rights to exchange or convert thereunder are immediately exercisable, and the price per share for which Common Stock is issuable
upon such conversion or exchange (determined by dividing (i) the total amount received or receivable by the Company as consideration for the issue or sale of such Convertible Securities, plus the minimum aggregate amount of additional consideration,
if any, payable to the Company upon the, conversion or exchange thereof, by (ii) the total maximum number of shares of Common Stock issuable upon the conversion or exchange of all such Convertible Securities) shall be less than the fair market value
of such Common Stock on the date of such issue or sale of such Convertible Securities, then the total maximum number of shares of Common Stock issuable upon conversion or exchange of all such Convertible Securities shall (as of the date of the issue
or sale of such Convertible Securities) be deemed to be outstanding and to have been issued for such price per share, provided that, except as otherwise provided in subsection 6.5, no further adjustment of the Exercise Price shall be made upon the
actual issue of such Common Stock upon conversion or exchange of such Convertible Securities. 

  

	 	6.5	 Effect of Alteration to Option or Convertible Security Terms. In connection with any change in, or the expiration or termination of, the purchase rights
under 

  

 8 

	 	 
any Option or the conversion or exchange rights under any Convertible Securities, the following provisions shall apply: 

  

	 	(a)	If the exercise price provided for in any Option referred to in subsection 6.3, the additional consideration, if any, payable upon the conversion or exchange of any Convertible
Securities referred to in subsection 6.3 or 6.4, or the rate at which any Convertible Securities referred to in subsection 6.3 or 6.4 are convertible into or exchangeable for Common Stock shall change at any time (other than under or by reason of
provisions designed to protect against dilution), then the Exercise Price in effect at the time of such change shall forthwith be increased or decreased to the Exercise Price which would be in effect immediately after such change if (a) the
adjustments which were made upon the issuance of such Options or Convertible Securities had been made upon the basis of (and taking into account the total consideration received for) (i) the issuance at that time of the Common Stock, if any,
delivered upon the exercise of any such Options or upon the conversion or exchange of any such Convertible Securities before such change, and (ii) the issuance at that time of all such Options or Convertible Securities, with terms and provisions
reflecting such change, which are still outstanding after such change, and (b) the Exercise Price as adjusted pursuant to clause (a) preceding bad been used as the basis for the adjustments required hereunder in connection with all other issues or
sales of Common Stock, Options or Convertible Securities, by the Company subsequent to the issuance of such Options or Convertible Securities. 

  

	 	(b)	On the partial or complete expiration of any Options or termination of any right to convert or exchange Convertible Securities, the Exercise Price then in effect hereunder shall
forthwith be increased or decreased to the Exercise Price which would be in effect at the time of such expiration or termination if (a) ‘the adjustments which were made upon the issuance of such Options or Convertible Securities had been made
upon the basis of (and taking into account the total consideration received for) (i) the issuance at that time of the Common Stock, if any, delivered upon the exercise of such Options or upon the conversion or exchange of such Convertible Securities
before such expiration or termination, and (ii) the issuance at that time of only those such Options or Convertible Securities which remain outstanding after such expiration or termination, and (b) the Exercise Price as adjusted pursuant to clause
(a) preceding had been used as the basis for adjustments required hereunder in connection with all other issues or sales of Common Stock, Options or Convertible Securities by the Company subsequent to the issuance of such Options or Convertible
Securities. 

  

 9 

	 	(c)	If the exercise price provided for in any Option referred to in subsection 6.3 or the rate at, which any Convertible Securities referred to in subsection 6.3 or 6.4 are convertible
into or exchangeable for Common Stock shall be reduced at any time under or by reason or provisions with respect thereto designed to protect against dilution, and the event causing such reduction is one that did not also require an adjustment in the
Exercise Price under other provisions of this Section 6, then in case of the delivery of shares of Common Stock upon the exercise of any such Option or upon conversion or exchange of any such Convertible Securities, the Exercise Price then in effect
hereunder shall forthwith be adjusted to such amount as would have been obtained if such Option or Convertible Securities had never been issued and if the adjustments made upon the issuance of such Option or Convertible Securities had been made upon
the basis of the issuance of (and taking into account the total consideration received for) the shares of Common Stock delivered as aforesaid (provided that the fair market value of such Common Stock shall be the fair market value on the date of
issue of such shares); provided that no such adjustment shall be made unless the Exercise Price then in effect would be reduced thereby. 

  

	 	6.6	Stock Splits and Reverse Splits. In the event that the Company shall at any time subdivide its outstanding shares of Common Stock into a greater number of shares, the
Exercise Price in effect immediately prior to such subdivision shall be proportionately reduced and the number of Warrant Shares purchasable pursuant to this Warrant immediately prior to such subdivision shall be proportionately increased, and
conversely, in the event that the outstanding shares of Common Stock of the Company shall at any time be combined into a smaller number of shares, the Exercise Price in effect immediately prior to such combination shall be proportionately increased
and the number of Warrant Shares purchasable upon the exercise of this Warrant immediately prior to such combination shall be proportionately reduced. Except as provided in this subsection 6.6, no adjustment in the Exercise Price and no change in
the number of Warrant Shares purchasable shall be made under this Section 6 as a result of or by reason of any such subdivision or combination. 

  

	 	6.7	Determination of Consideration Received. For purposes of this Section 6, the amount of consideration received by the Company in connection with the issuance or sale of Common
Stock, Options or Convertible Securities shall be determined in accordance with the following: 

  

	 	(a)	In the event that shares of Common Stock, Options or Convertible Securities shall be issued or sold for cash, the consideration received therefor shall be deemed to be the amount
payable to the Company therefor, without deduction therefrom of any expenses incurred or any underwriting commissions or concessions or discounts paid or allowed by the Company in connection therewith. 

  

 10 

	 	(b)	In the event that any shares of Common Stock, Options or Convertible Securities shall be issued or sold for a consideration other than cash, the amount of the consideration other
than cash payable to the Company shall’ be deemed to be the fair value of such consideration as reasonably determined by the Board of Directors of the Company, without deduction of any expenses incurred or any underwriting commissions or
concessions or discounts paid or allowed by the Company in connection therewith. 

  

	 	(c)	In the event that any shares of Common Stock, Options or Convertible Securities shall be issued in connection with any merger in which the Company is the surviving corporation, the
amount of consideration therefor shall be deemed to be the fair value as reasonably determined by the Board of Directors of the Company of such portion of the assets and business of the non-surviving corporation as such Board shall determine to be
attributable to such Common Stock, Options or Convertible Securities, as the case may be. 

  

	 	(d)	In the event that any Common Stock, Options and/or Convertible Securities shall be issued in connection with the issue and sale of Other Securities or property of the Company,
together comprising one integral transaction in which no specific consideration is allocated to such~ Common Stock, Options or Convertible Securities by the parties thereto, such Common Stock, Options and/or Convertible Securities shall be deemed to
have been issued without consideration. 

  

	 	6.8	Record Date as Date of Issue or Sale. In the event that at any time the Company shall take a record of the holders of its Common Stock for the purpose of entitling
them (i) to receive a dividend or other distribution payable in Common Stock, Options or Convertible Securities, or (ii) to subscribe for or purchase Common Stock, Options or Convertible Securities, then such record date shall be deemed to be the
date of the issue or sale of the shares of Common Stock deemed to have been issued or sold upon the declaration of such dividend or the making of such other distribution or the date of the granting of such right of subscription or purchase, as the
case may be. 

  

	 	6.9	Treasury Stock. The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or for the account of the Company, and the
disposition of any such shares (other than their cancellation without reissuance) shall be considered an issue or sale of Common Stock for the purposes of this Section 6. 

  

	 	6.10	 De Minimis Adjustments. Notwithstanding the foregoing in this Section 6, no adjustment of the Exercise Price shall be made in an amount less than $0.000001
per share, but any such lesser adjustment shall be carried forward and shall be made at the time of and together with the next subsequent adjustment which 

  

 11 

	 	 
together with any adjustments so carried forward- shall amount to $0.00000l per share or more. 

  

	 	6.11	Other Events. If any event occurs that would adversely affect each Holder’s rights but is not expressly provided for by this Section 6 (including, without limitation,
the granting of stock appreciation rights, phantom stock rights or other rights with equity features), then the Company’s Board of Directors will make an appropriate adjustment in the Exercise Price so as to protect each Holder’s rights;
provided, however, that no such adjustment will increase the Exercise Price or decrease the number of shares of Common Stock obtainable as otherwise determined pursuant to this Section 6.11. 

  

	 	6.12	No Change in Warrants Terms on Adjustment. Irrespective of any adjustments in the Exercise Price or the number of shares of Common Stock (or any inclusion of Other
Securities) issuable upon exercise, Warrants theretofore or thereafter issued may continue to express the same prices and number of shares as are stated in the similar Warrants issuable initially, or at some subsequent time, pursuant to this
Warrant, and the Exercise Price and such number of shares issuable upon exercise specified thereon shall be deemed to have been so adjusted. 

  

	 	6.13	Multiple Issuances. If additional shares of Common Stock, Convertible Securities, ‘Common Stock Equivalents, Other Securities or rights or options are issued or sold
together with other stock or securities or other assets of the Company for a consideration which covers both, the consideration received shall be computed as the portion of the consideration so received that may be reasonably determined in good
faith by the Board of Directors to be allocable to such additional shares of Common Stock, Convertible Securities, Common Stock Equivalents, Other Securities or rights or Options. 

  

	7.	No Dilution or Impairment. The Company will not, by amendment of its Certificate of Incorporation or through any reorganization, transfer of assets, consolidation, merger,
dissolution, issue or sale of securities or any other voluntary action, avoid or seek to ‘avoid the observance or performance of any of the terms of the Warrants, but will at all times in good faith assist in the carrying out of all such terms
and in the taking of all such action as may be necessary or appropriate in order to’ protect the rights of the Holders of the Warrants against dilution or other impairment. Without limiting the generality of the foregoing, the Company (a) will
take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable shares of stock on the exercise of all Warrants from time to time outstanding, (b) will not issue any
capital stock of any class which is preferred as to dividends or as to the distribution of assets upon voluntary or involuntary dissolution, liquidation or winding up, unless the rights of the holders thereof shall be limited to a fixed liquidation
preference, which may included dividends that accrue at a fixed rate through the date of such dissolution, liquidation or winding up and (c) will not transfer all or substantially all of its properties and assets to any other Person (corporate or
otherwise), or consolidate with or merge into any other Person or permit any such Person to consolidate with or merge into the Company (if the Company is not the surviving Person), unless such other Person shall expressly assume in writing and
become bound by all the terms of the Warrants. 

  

 12 

	8.	Certificate as to Adjustments. In each case of any adjustment or readjustment in the Exercise Price or in the number of shares of Common Stock (or Other Securities) issuable
on the exercise of the Warrants, the Company will promptly compute such adjustment or readjustment in accordance with the terms of the Warrants and prepare a certificate setting forth such adjustment or readjustment and showing in detail the facts
upon which such adjustment or readjustment is based, including a statement of (a) the consideration received or receivable by the Company for any additional shares of Common Stock (or Other Securities) issued or sold or deemed to have been issued or
sold, (b) the number of shares of Common Stock (or Other Securities) outstanding or deemed to be outstanding, and (c) the Exercise Price and the number of shares of Common Stock to be received upon exercise of this Warrant, in effect immediately
prior to such issue or sale and as adjusted and readjusted as provided in this Warrant. The Company will forthwith mail a copy of each such certificate to each Holder of a Warrant,, and will, on the written request at any time of any Holder of a
Warrant, furnish to such Holder a like certificate setting forth the Exercise Price at the time in effect and showing how it was calculated. 

  

	9.	Notices of Record Date. etc. In the event of: 

  

	 	(a)	any taking by the Company of a record of the Holders of any class of securities for the purpose of determining the Holders thereof who are entitled to receive any dividend or other
distribution or any right to subscribe for, purchase or otherwise acquire any shares of stock of any class or any Other Securities or property, or to receive any other right, or 

  

	 	(b)	any capital reorganization of the Company, any reclassification or recapitalization of the capital stock of the Company or any transfer of all or substantially all the assets of the
Company ‘to or consolidation or merger of the Company with or into any other Person, or 

  

	 	(c)	any voluntary or involuntary dissolution, liquidation or winding-up of the Company, or 

  

	 	(d)	any proposed issue or grant by the Company of any shares of stock of any class or any Other Securities, or any right or option to subscribe for, purchase or otherwise acquire any
shares of stock of any class or any Other Securities (other than the issue of Common Stock on the exercise of the Warrants), 

  
 then and in each such event the Company will mail or cause to be mailed to each Holder of a Warrant a notice specifying (i) the date on
which any such record is to be taken for the purpose of such dividend, distribution or right, and stating the amount and character of such dividend, distribution or right, (ii) the date on which any such reorganization, reclassification,
recapitalization, transfer, consolidation, merger, dissolution, liquidation or winding-up is to take place, and the time, if any is to be fixed, as of which the holders of record of Common Stock (or Other Securities) shall be entitled to exchange
their shares of Common Stock (or Other Securities) for securities or other property deliverable on such reorganization, reclassification, recapitalization, transfer, consolidation, merger, dissolution, liquidation or winding-up, and 

  

 13 

 
(iii) the amount and character of any stock or Other Securities, or rights or options with respect thereto, proposed to be issued or granted, the date of
such proposed issue or grant and the Persons or class of Persons to whom such proposed issue or grant is to be offered or made, Such notice shall be mailed at least ten (10) business days prior to the date specified in such notice on which any such
action is to be taken pursuant to (a) or (d) above and five (5) business days prior to the date specified in such notice on which any such action is to be taken in any other case. 
  

	10.	Certain Covenants. 

  

	 	10.1	Reservation of Stock, etc. Issuable on Exercise of Warrants. The Company will at all times reserve and keep available, solely for issuance and delivery on the exercise of the
Warrants, all shares of Common Stock (or Other Securities) from time to time issuable on the exercise of the Warrants. The Company will not increase or permit to be increased the par value per share or stated capital of the shares of the Common
Stock (or Other Securities) issuable on the exercise of the Warrants, and in the event that the exercise of the Warrants would require the payment by the Holder of consideration for the Common Stock (or Other Securities) receivable upon such
exercise of less than the par or stated value of such shares, the Company will promptly take such action as may be necessary to change the par or stated value of such shares to an amount less than or equal -to such consideration.

  

	 	10.2	Registration Rights. The Holder of this Warrant shall be entitled to the benefits of that certain Registration Rights Agreement dated as of August 20, 2004 between the
Company and the Purchasers listed therein. 

  

	 	10.3	 Representations of Holder. The Holder of this Warrant, by the acceptance hereof, represents that it is acquiring this Warrant and the Warrant Shares for its
own account for investment only and not with a view towards, or for resale in connection with, the public sale or distribution of this Warrant or the Warrant Shares, except pursuant to sales registered or exempted under the Securities Act;
provided, however, that by making the representations herein, the Holder does not agree to hold this Warrant or any of the Warrant, Shares for any minimum or other specific term and reserves the right to dispose of this Warrant and the
Warrant Shares at any time in accordance with or pursuant to a registration statement (if available) or an exemption under the Securities Act. The Holder of this Warrant further represents, by acceptance hereof, that, as of this date, such Holder is
an “accredited investor” as such term is defined in Rule 50l(a)(l) of Regulation D promulgated by the Securities and Exchange Commission under the Securities Act (an “Accredited Investor”). Upon exercise of this Warrant
the Holder shall, if requested by the Company, confirm in writing, in a form satisfactory to the Company, that the Warrant Shares so purchased are being acquired solely for the Holder’s own account and not as a nominee for any other party, for
investment, and not with a view toward distribution or resale and that such Holder is an Accredited investor, if such Holder cannot make such representations because they would be factually incorrect, it shall be a condition to such Holder’s
exercise of this Warrant that the Company receive such other representations as the Company considers reasonably necessary to assure the 

  

 14 

	 	 
Company, that the issuance of its securities upon exercise of this Warrant shall not violate any United States or state securities laws.

  

	 	10.4	Regulatory Requirements and Restrictions. In the event of any reasonable determination by the Holder of this Warrant that, by reason of any change in, or enactment, creation
or imposition of, any federal or state law, statute, rule, regulation, guideline, order, court or administrative ruling, request or directive (whether or not having the force of law and whether or not failure to comply therewith would be unlawful)
(collectively, a “Regulatory Requirement”), the Holder of this Warrant is effectively restricted or prohibited from holding this Warrant or shares of Common Stock (or Other Securities) issuable upon exercise of this Warrant, or
otherwise realizing upon or receiving the benefits intended under this Warrant, the Company shall take such action as the Holder of this Warrant and the Company shall jointly agree in good faith to be reasonably necessary to permit the Holder of
this Warrant to comply with such Regulatory Requirement. The reasonable costs of taking such action, whether by the Company, the Holder of this Warrant or otherwise, shall be borne by the Holder. 

  

	 	10.5	Limitation on Certain Restrictions. The Company will not, directly or indirectly, create or otherwise cause or suffer to exist or become effective any prohibition on the
ability of the Company to perform and comply with its obligations under this Warrant. 

  

	11.	Exchange of Warrants. On surrender for exchange of any Warrant, properly endorsed, to the Company, the Company at its expense will issue and deliver to or on the order of the
Holder thereof a new Warrant or Warrants of like tenor, in the name of such Holder or as such Holder (on payment by such Holder of any applicable transfer taxes) may direct, calling in the aggregate on the face or faces thereof for the number of
shares of Common Stock called for on the face or faces of the Warrant or Warrants so surrendered (as such number may be adjusted in accordance with the terms hereof). No service charge will be imposed in connection with any transfer or exchange of
any Warrant, but the Company or the Warrant Agent, as applicable, may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith. 

  

	12.	Replacement of Warrants. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of any Warrant and, in the case of
any such loss, theft or destruction of any Warrant, on delivery of an indemnity agreement or security reasonably satisfactory in form and amount to the Company or, in the case of any such mutilation, on surrender and cancellation of such Warrant,
the Company at the Holder’s expense will execute and deliver, in lieu thereof, a new Warrant of like tenor. 

  

	13.	 Warrant Agent. The Company may elect to appoint an agent (the “Warrant Agent”) having an office in the United States of America for the purpose of
issuing. Common Stock (or Other Securities) on the exercise of the Warrants pursuant to Section 2, exchanging Warrants pursuant to Section 11, and replacing Warrants pursuant to Section 12. If the Company elects to appoint such a Warrant Agent, the
Company shall notify the Holder of the name, address and other contact information for the Warrant Agent at 

  

 15 

	 	 
least ten days prior to the effective date of the appointment. Upon such appointment, any such issuance, exchange or replacement, as the case may be, shall
be’ made at such office of and by the Warrant Agent. The Warrant Agent shall accept, in its own name for the account of the Company or such successor Person as may be entitled thereto, all amounts otherwise payable to the Company or such
successor, as the case may be, on exercise of this Warrant pursuant to this Section 13. The appointment of the Warrant Agent shall not relieve the Company of its obligations set forth in this Warrant, The Company may replace the Warrant Agent or
terminate its services upon not less than ten days prior notice to the Holder. 

  
 The Company intends to select Wells Fargo Bank, N.A. as the Warrant Agent. So long as the appointment of Wells Fargo Bank, N.A. is effected prior to
November 1, 2004, no notice of the actual appointment of Wells Fargo Bank, N.A. shall be required under this Agreement. 
  

	14.	Remedies. The Company stipulates that the remedies at law of the Holder of this Warrant in the event of any, default or threatened default by the Company in the performance
of or compliance with any of the terms, of this Warrant are not and will not be adequate, and that such terms may be specifically enforced by a decree for the specific performance of any agreement contained herein or by an injunction against a
violation of any of the terms hereof or otherwise. 

  

	15.	Negotiability, etc. This Warrant is issued upon the following terms, to all of which each Holder consents and agrees by accepting this Warrant: 

  

	 	(a)	title to this Warrant may be transferred by endorsement (by the Holder hereof executing the form of assignment at the end hereof) and delivery in the same manner as in the case of a
negotiable instrument transferable by endorsement and delivery and 

  

	 	(b)	any Person in possession of this Warrant properly endorsed for transfer to such Person (including endorsed in blank) is authorized to represent himself as absolute owner hereof and
is empowered to transfer absolute title hereto by endorsement and delivery hereof to a bona fide purchaser hereof for value; each prior taker or owner waives and renounces all of his equities or rights in this Warrant in favor of each such bona fide
purchaser, and each such bona fide purchaser shall acquire absolute title hereto and to all rights represented hereby, Nothing in this paragraph (b) shall create any liability on the part of the Company beyond any liability or responsibility it has
under law. 

  

	16.	Notices. etc. All notices and other communications from the Company to the Holder of this Warrant shall be sent by first class mail, postage prepaid, by hand delivery or by
overnight mail or courier service, at such address as may have been furnished to the Company in writing by such Holder or, until any such Holder furnishes to the Company an address, then to, and at the address of, the last Holder of this Warrant who
has so furnished an address to the Company. 

  

 16 

	17.	Miscellaneous. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which
enforcement of such change, waiver, discharge or termination is sought, This Warrant shall be construed and enforced in accordance with and governed by the laws of the State of Delaware, without regard to the principles of conflicts of laws. The
headings in this Warrant are for purposes of reference only, and shall not limit or otherwise affect any of the terms hereof. This Warrant is being executed as an instrument under seal. The invalidity or unenforceability of any provision hereof
shall in no way affect the validity or enforceability of any other provision. 

  

	18.	Exercise Period. This Warrant may be exercised from time to time during the period (the “Exercise Period”) commencing on the Issue Date and expiring on
August 23, 2011. Notwithstanding the foregoing, this Warrant shall automatically be deemed to be exercised in full pursuant to the provisions of Section 2.5 hereof, without any further action on behalf of the Holder, immediately prior to the
time this Warrant would otherwise expire pursuant to the preceding sentence. 

  

	19.	Holder Not Deemed Stockholder. Until the exercise of this Warrant, the Holder shall not have or exercise any rights by virtue hereof as a stockholder of the Company.

  

	20.	Amendment. This Warrant may be amended by the parties hereto without the consent of any Holder for the purpose of curing any ambiguity, or of curing, correcting or
supplementing any defective provision contained herein or making any other provisions with respect to matters or questions arising under this Warrant as the Company and the Warrant Agent (as applicable) may deem necessary or desirable. Except as
otherwise provided herein, the provisions of the Warrants may be amended and the Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained the written consent of
the Majority Warrantholders (excluding the vote of any Warrants held by the Company or any parent, subsidiary or sister company) and provided that all Warrants issued pursuant to the Agreement are equally treated. 

  

	21.	CUSIP and CINS Numbers. The Company in issuing the Warrants may use “CUSIP” and “CINS” numbers. 

  

	22.	Expenses. The preparation, issuance and delivery of the new Warrant certificates shall be at the Company’s expense (other than transfer taxes). The Company shall not be
required, however, to pay any tax or other charge imposed in connection with any transfer of any Warrants, including, but not limited to, any transfer involved in the exchange of any Warrant certificates, and in such case the Company shall not be
required to issue or deliver any Warrant certificates until such tax or other charge has been paid or it has been established to the satisfaction of the Company that no such tax or other charge is due. If such tax or other charge is due, the Company
or Warrant Agent (if applicable) shall have no duty or obligation or any other similar provision of this Warrant Agreement unless and until it is satisfied that all such, taxes and/or governmental charges have been paid in full.

  

	23.	 Consent to Jurisdiction. Notwithstanding anything to the contrary contained in Section 17 hereof, (a) the parties hereby expressly acknowledge and agree
that, to the extent 

  

 17 

	 	 
permitted by applicable law, the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) shall have exclusive
jurisdiction to hear and determine any and all disputes concerning the distribution of Warrants hereunder, and (b) if appointed, the Warrant Agent will consent to the jurisdiction of the Bankruptcy Court with respect to any such disputes and waives
any argument of lack of such jurisdiction. 

  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 18 

 IN WITNESS WHEREOF, the Company has executed this Warrant under seal as of the date first written above.

  

	
	 CORE-MARK HOLDING
 COMPANY, INC.

	
	 
	J. Michael Walsh
	Officer

  

			
	 [Corporate Seal]

	
	 Attest:

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 

 FORM OF ELECTION FOR CASHLESS EXERCISE PURSUANT TO SECTION 2.4 
  
 The undersigned hereby irrevocably elects to purchase
                     shares of Common Stock of Core-Mark Holding Company, Inc. on the terms and conditions specified in the within Warrant
Certificate and tenders payment of the exercise price for these shares by electing pursuant to Section 2.4 of the within Warrant Certificate to surrender the right to purchase
                     shares of Common Stock; and directs that the shares of Common Stock deliverable upon the exercise of such Warrants be
registered or placed in the name and at the address specified below and delivered thereto. 
  
 Date:                     ,          
  

	
	
	 
	 (Signature of Owner)

	
	 
	 (Street Address)

	
	 
	 (City)        (State)        (Zip
Code)

	
	 Signature Guaranteed by:

	
	 

  
 Securities and/or check to be
issued to: 
  
 Please insert social security or identifying number: 
  
 Name: 
 Street Address: 
 City, State and Zip Code:

  
 Any unexercised Warrants evidenced by the within Warrant certificate to be
issued to: 
  
 Please insert social security or identifying
number: 
 Name: 
 Street Address:

 City, State and Zip Code: 

	1	The signature must correspond with the name as written upon the face of the within
Warrant Certificate in every particular, without alteration or enlargement or any change whatsoever, and must be guaranteed by a national bank or trust company or by a member firm of any national securities exchange 

  
  

 FORM OF ELECTION TO PURCHASE WARRANT SHARES FOR CASH 
  
 (to be executed only upon exercise of Warrants) 
  
 The undersigned hereby irrevocably elects to purchase
                     shares of Common Stock of Core-Mark Holding Company, Inc. on the terms and conditions specified in the within Warrant
Certificate and tenders herewith payment of $                    , the Exercise Price for shares; and directs that the shares of Common Stock
deliverable upon the exercise of such Warrants be registered or placed in the name and at the address specified below and delivered thereto, 
  
 Date:                     ,
         
  

	
	
	 
	 (Signature of Owner)

	
	 
	 (Street Address)

	
	 
	 (City)        (State)        (Zip
Code)

	
	 Signature Guaranteed by:

	
	 

  
 Securities and/or check to be
issued to: 
  
 Please insert social security or identifying number: 
  
 Name: 
 Street Address: 
 City, State and Zip Code:

  
 Any unexercised Warrants evidenced by the within Warrant certificate to be
issued to: 
  
 Please insert social security or identifying number: 
  
 Name: 
 Street Address: 
 City, State and Zip Code:

	2	The signature must correspond with the name as written upon the face of the within Warrant
Certificate in every particular, without alteration or enlargement or any change whatsoever, and must be guaranteed by a national bank or trust company or by a member firm of any national securities exchange. 

 FORM OF ASSIGNMENT 
  
 (To be signed only upon transfer of Warrant) 
  
 For value received, the undersigned hereby sells, assigns and transfers unto
                    
                     the right represented by the within Warrant to purchase
                     shares of Common Stock of Core-Mark Holding Company, Inc. to which the within Warrant relates, and appoints
                                        
                     Attorney to transfer such right on the books of Core-Mark Holding Company, Inc. with full power of substitution in the
premises. 
  
 Alternative 1: The undersigned is not
currently an affiliate of the Company or an underwriter engaged in the distribution of such Warrant as those terms are defined in the rules of the Securities and Exchange Commission, 
  
 Or 
  
 Alternative 2: If the undersigned is an affiliate or an underwriter, (a) the undersigned has sold the securities represented by the within Warrant
pursuant to a registration statement filed and made effective in accordance with the Securities Act and in a manner described under the caption “Plan of Distribution” in the prospectus included in such registration statement and that such
sale complies with all applicable securities laws applicable to the undersigned, including without limitation, the prospectus delivery requirements, or (b), only in the case of an affiliate, has transferred such securities pursuant to an exemption
from registration under the Securities Act and provided reasonable evidence of such exemption. 
  
 The Warrant being transferred hereby is one of the Warrants issued by Core-Mark Holding Company, Inc. as of August 23, 2004 to purchase an aggregate
of                     shares of Common Stock. 

 Date:
                    ,          
  

	
	
	 
	 (Signature of Owner)

	
	 
	 (Street Address)

	
	 
	 (City)        (State)        (Zip
Code)

	
	 Signature Guaranteed by:

	
	 

  
 Securities to be issued to:

  
 Please insert social security or identifying number: 
  
 Name: 
 Street Address: 
 City, State and Zip Code:

	3	The signature must correspond with the name as written upon the face of the within Warrant
certificate in every particular, without alteration or enlargement or any change whatsoever, and must be guaranteed by a national bank or trust company or by a member firm of any national securities exchange.

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