Document:

Exhibit

Exhibit 10.82
Green River Processing, February 19, 2016

Effective Date: February 19, 2016                
	
		
	GREEN RIVER PROCESSING, LLC
	GREEN RIVER PROCESSING, LLC

	Contract No: [________________]
	19100 RIDGEWOOD PKWY

	 
	SAN ANTONIO, TX 78259

	TESORO REFINING & MARKETING COMPANY LLC
	210.828.8484

	Contract No: ________  
	210.579.4578 Fax

Attn:  Contract Administration

This Confirmation (“Confirmation”) confirms the transaction discussed and agreed upon on February 19, 2016, between TESORO REFINING & MARKETING COMPANY LLC, a Delaware limited liability company (hereinafter referred to as "Buyer"), and GREEN RIVER PROCESSING, LLC, a Delaware limited liability company (hereinafter referred to as "Seller").  Buyer agrees to purchase, and Seller agrees to sell, Crude Oil under the terms and conditions set forth in this Confirmation and the Conoco General Provisions – Domestic Crude Oil Agreements effective January 1, 1993 (the “GTC’s”), as amended herein, and hereby incorporated by this reference.  This Confirmation and the GTCs are collectively referred to as the “Contract”. 

IDENTIFICATION OF CRUDE OIL:    The crude oil being purchased hereunder is crude petroleum oil, in its natural produced state after normal oilfield separation, as specified and identified in the Quality section below.

CONTRACT TERM:    This Contract shall extend for an initial term beginning February 19, 2016 and ending January 31, 2017 and shall automatically, on an evergreen basis, beginning February 1, 2017, renew for one (1) month terms thereafter.  After the initial term, either Party may cancel this Contract upon at-least thirty (30) days’ prior written notice before the end of any term.

TOTAL MAXIMUM CONTRACT VOLUME:    Up to 3,300 Barrels per day

DEAL DETAIL 1)

QUALITY:    Southwest Wyoming Sweet Crude (U-Crude)

DELIVERY:    Free-Into-Pipe Granger, WY via Plains All American Pipeline (PL)

TITLE/ROL:    Except as otherwise specified in this Contract, title and risk of loss or damage shall pass from Seller to Buyer Free-Into-Pipe (after the crude oil passes through the inlet flange of metering facilities) at Granger, WY immediately after Seller has title from its supplier.

PRICE:    Buyer agrees to pay Seller based on: the pricing set forth in Seller’s agreement with its supplier.

	
			
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Green River Processing, February 19, 2016

DEAL DETAIL 2)

QUALITY:    Southwest Wyoming Sweet Crude (U-Crude)

DELIVERY:    Free-Into-Pipe at Salt Lake City, UT via Plains All American Pipeline (PL)

TITLE/ROL:    Except as otherwise specified in this Contract, title and risk of loss or damage shall pass from Seller to Buyer Free-Into-Pipe (after the crude oil passes through the inlet flange of metering facilities) at Salt Lake City, UT immediately after Seller has title from its supplier.

PRICE:    Buyer agrees to pay Seller based on: the pricing set forth in Seller’s agreement with its supplier.

Applicable to all Details:

SPECIAL DELIVERY PROVISIONS:    N/A

PAYMENT:    Payment due the 20th of the month following delivery month.  Payment shall be made by electronic funds transfer in United States dollars.

Payments due on Saturday shall be paid the preceding Friday, and payments due on Sunday shall be paid on the following Monday.  Similarly, payments due on a federal bank holiday shall be paid the preceding business day except when a federal bank holiday falls on a Monday, when payment shall be due the following day.

All payments made under this Contract shall be made without offset, deduction or counter-claim except as provided herein, by separate written agreement between the parties, or within the GTCs.  If applicable, net-out invoices shall be according to the established netting agreement between Buyer and Seller.

All stated payment terms herein are subject to approval by the Buyer’s Credit Department.  Buyer reserves the right to change such terms in accordance with the financial responsibility provision of the GTCs.

Send Invoices to:    TESORO REFINING & MARKETING COMPANY LLC
19100 RIDGEWOOD PKWY
SAN ANTONIO, TX 78259

Attn: Crude Accounting, Fax (210) 881-6435
Email: TSOCrudeinvoices@tsocorp.com
and
Attn: Crude Accounts Payable, Fax (210) 569-5160  
Email: APCommodities@tsocorp.com

PAYMENT NETTING:    Seller and Buyer may enter into contracts to buy and sell crude oil within the same delivery month with payment due each other on the same payment date.  In such event, upon agreement by both parties, on such payment date, the parties' current payment obligations to each 

	
			
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other shall be netted out, and each party's obligation to make payment of any such netted amount to the other party automatically will be deemed satisfied and discharged to the extent of the obligation owed to such party by the other party, and, if the aggregate amount that would otherwise have been payable by one party exceeds the aggregate amount that would otherwise have been payable by the other party, the net payment obligations shall be replaced by an obligation upon the party by whom the larger aggregate amount would have been payable to pay the other party a net balance equal to the excess of the larger aggregate amount over the smaller aggregate amount.

GENERAL PROVISIONS:    The GTCs (defined above) govern this Contract and are hereby incorporated by reference.  If you do not have a copy of those provisions, a copy will be provided to you upon request.  Where the provisions of the GTCs are inconsistent with the specific provisions contained in this Confirmation, the terms and conditions of this Confirmation shall govern.

The following amendment is made to the GTCs:  Except as expressly set forth herein, neither party shall ever be liable for any special, consequential, or indirect losses or damages resulting from the sale, purchase, exchange, transportation or delivery of products under this Contract or for any punitive, exemplary, lost profits, statutory or multiple damages, all of which damages are expressly excluded and limited under this Contract. 

ADDRESSES:        The following address shall be used for notices under this Contract.

To SELLER                        To BUYER
	
		
	GREEN RIVER PROCESSING, LLC
19100 RIDGEWOOD PKWY
San Antonio, Texas 78259-1828

Attn: Commercial Contract Administration
Phone # 1-210-626-4459
Fax # 1-210-579-4578

	Tesoro Refining & Marketing Company LLC
19100 RIDGEWOOD PKWY
San Antonio, Texas 78259-1828

Attn: Commercial Contract Administration
Phone # 1-210-626-6529   
Fax # 1-210-579-4578

ADDITIONAL BUYER CONTACTS:

	
			
	OPERATIONS
	Crude Scheduling
	Phone: (303) 454-6600 Fax: (210) 745-4565
Email: Denverops@tsocorp.com and
sat-crudescheduling@tsocorp.com

	CREDIT
	Customer Service
	Phone: (877) 876-7297 Fax: (210) 626-4048
Email: CREDSAT@tsocorp.com

	ACCOUNTING
	Mid-Office Accounting
	Phone: (210) 881-6435
Email: sat-tsocrudeinvoices@tsocorp.com

INTERNATIONAL TRADE COMPLIANCE: 
Direct questions for international shipments to appropriate person below:

Pipeline Imports    Kevin Wilder        Phone: (210) 626-4843    Cell: (210) 823-5220
Marine Imports    Suzanne Saenz    Phone: (210) 626-6127    Cell: (210) 979-1104
Exports        Kevin Wilder        Phone: (210) 626-4843    Cell: (210) 823-5220

[Signature Page Follows]

	
			
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COUNTERPARTS:  This Contract may be executed in one or more counterparts, each of which will be deemed an original, but all of which taken together will constitute one and the same instrument.  Delivery of an executed signature page of this Contract by facsimile or electronic transmission (.pdf) shall be effective as delivery of a manually executed counterpart hereof.

		
	GREEN RIVER PROCESSING, LLC
	TESORO REFINING & MARKETING COMPANY LLC

BY:_____________________________        BY:______________________________
NAME: ________________________        NAME:____________________________
TITLE:  ________________________        TITLE:____________________________

	
			
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	February 19, 2016Exhibit

Exhibit 10.7 
SUMMARY SHEET OF EXECUTIVE CASH COMPENSATION
The following table sets forth annual base salaries provided to the Company’s principal executive officer, principal financial officer and other named executive officers in 2014, and the 2015 base salaries approved by the Compensation Committee of the Board of Directors (the “Committee”) on March 24, 2015, and the 2016 annual base salary approved in connection with the appointment of our new Chief Executive Officer.
 
	
										
	Named Executive Officers1,2
	 
	2014 Base 
Salaries
	 
	2015 Base 
Salaries
	 
	2016 Base Salaries3

	Karl G. Glassman, President and Chief Executive Officer
	 
	$
	810,000
	 
	$
	840,000
	 
	$
	1,100,000

	Matthew C. Flanigan, EVP and Chief Financial Officer
	 
	$
	490,000
	 
	$
	507,000
	 
	TBD4

	Perry E. Davis, SVP, President – Residential Furnishings
	 
	$
	352,000
	 
	$
	370,000
	 
	TBD4

 
	
		
	1 
	David S. Haffner served as the Company’s Board Chair and Chief Executive Officer through December 31, 2015.  Mr. Haffner’s 2014 and 2015 base salaries were $1,090,000 and $1,130,000, respectively.  Pursuant to Mr. Haffner's former employment agreement with the Company, he is entitled to continue to receive his annual base salary (at the rate of $1,130,000) through the 2017 Annual Shareholders Meeting, which is expected to be held in May.

	 
	 

	2 
	Joseph D. Downes, Jr., the Company’s former SVP, President – Industrial Materials retired from the Company on December 31, 2015.  From April 6, 2015 through December 31, 2015, he served in a lesser position with the Company and received remuneration based on an annual salary of $140,000.  In 2014 and through April 5, 2015, he received remuneration based on an annual salary of $347,300.

	 
	 

	3 
	Karl G. Glassman became the Company’s President and Chief Executive Officer, effective January 1, 2016, and, as previously reported, the Committee increased his annual base salary from $840,000 to $1,100,000 at its January 4, 2016 meeting.

	 
	 

	4 
	To be determined.  The 2016 annual base salaries for Matthew C. Flanigan and Perry E. Davis are expected to be set by the Committee at its March 2016 meeting.

Except as noted below,  the named executive officers are expected to be eligible to receive a cash bonus under the Company’s 2014 Key Officers Incentive Plan (filed March 25, 2014 as Appendix A to the Company’s Proxy Statement) (the “Plan”) in accordance with the 2016 award formula (which is expected to be adopted at the Committee’s March 2016 meeting and, consistent with past years, is expected to include performance targets related to the achievement of Return on Capital Employed (60% relative weight), Cash Flow for Corporate Participants and Free Cash Flow for Profit Center Participants (20% relative weight) and certain Individual Performance Goals (20% relative weight)).  Each executive’s award is expected to be calculated by multiplying his annual salary at the end of the Plan year by his Target Percentage, then applying the award formula adopted by the Committee for that Plan year.  We will disclose the 2016 award formula in a subsequent Form 8-K filing once it is adopted.  The Target Percentages in 2014, 2015 and 2016 for Karl G. Glassman, and the Target Percentages in 2014 and 2015 for our principal financial officer and the other named executive officers are shown in the following table. 
 
	
							
	Named Executive Officers,1,2
	 
	2014 
Target 
Percentages
	 
	2015 
Target 
Percentages
	 
	2016 
Target 
Percentages3

	Karl G. Glassman, President and Chief Executive Officer
	 
	90%
	 
	90%
	 
	115%

	Matthew C. Flanigan, EVP and Chief Financial Officer
	 
	80%
	 
	80%
	 
	TBD4

	Perry E. Davis, SVP, President – Residential Furnishings
	 
	60%
	 
	60%
	 
	TBD4

 
	
		
	1 
	Davis S. Haffner served as the Company’s Board Chair and Chief Executive Officer through December 31, 2015. His Target Percentage was 115% in each of 2014 and 2015.  Pursuant to Mr. Haffner's former employment agreement with the Company, he will continue to receive a cash bonus payment with a Target percentage of 115% for all of 2016 and through the 2017 Annual Shareholders Meeting, which is expected to be held in May.  Mr. Haffner’s award formula is expected to be adopted at the March Committee meeting, and is expected to measure the achievement of Return on Capital Employed (70% relative weight) and Cash Flow (30% relative weight).

	 
	 

	2 
	Joseph D. Downes, Jr., the Company’s former SVP, President – Industrial Materials retired from the Company on December 31, 2015.  He served in a lesser position with the Company from April 6, 2015 through December 31, 2015, and, as a result, in 2015, he participated in the Company’s Key Management Incentive Compensation Plan, which is a cash bonus plan for non-executive officers. The award payout under this plan was determined in substantially the same manner as the 2014 Key Officers Incentive Plan and the 2015 award formula. The performance objectives were Return on Capital Employed (70% relative weight) and Free Cash Flow (30% relative weight) increased by as much as 5% for exceptional safety performance or decreased by as much as 20% for critical compliance failures.

	 
	 

	3 
	Karl G. Glassman became the Company’s President and Chief Executive Officer, effective January 1, 2016, and as previously reported, the Committee increased his Target Percentage from 90% to 115% at its January 4, 2016 meeting.

	 
	 

	4 
	To be determined.  The 2016 target percentages for Matthew C. Flanigan and Perry E. Davis are expected to be set by the Committee at its March 2016 meeting.

Individual Performance Goals. Each executive’s cash award under the award formula is based, in part, on individual performance goals established outside the Plan (20% relative weight). The 2016 goals for our named executive officers1 are: 
Karl G. Glassman: Strategic planning, growth initiatives and succession planning.
Matthew C. Flanigan: Strategic planning, credit facility renewal, information technology and internal audit improvements. 
Perry E. Davis: Growth of targeted businesses and supply chain initiatives.

	
		
	1 
	Neither Mr. Haffner nor Mr. Downes were employed by the Company as of January 1, 2016.  As such, neither have individual performance goals for 2016.

The achievement of the individual performance goals is measured by the following schedule. 

Individual Performance Goals Payout Schedule (1-5 scale)
 	
				
	Achievement
	 
	Payout

	1 – Did not achieve goal
	 
	0
	%

	2 – Partially achieved goal
	 
	50
	%

	3 – Substantially achieved goal
	 
	75
	%

	4 – Fully achieved goal
	 
	100
	%

	5 – Significantly exceeded goal
	 
	up to 150
	%

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