Document:

EX-4.3

 Exhibit 4.3 

EXECUTION VERSION 

INTERCREDITOR AND COLLATERAL 

TRUST AGREEMENT 
 INTERCREDITOR
AND COLLATERAL TRUST AGREEMENT, dated as of September 9, 2013 (this “Agreement”), among MIDAMERICAN ENERGY COMPANY, an Iowa corporation (together with any successor or assignee, the “Company”); THE BANK OF NEW
YORK MELLON TRUST COMPANY, N.A., a banking association organized and existing under the laws of the United States of America, as Trustee under the Mortgage Bond Indenture referred to below; and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a
banking association organized and existing under the laws of the United States of America, as collateral trustee (in such capacity, together with its successors in such capacity, the “Collateral Trustee”) for the Secured Parties (as
defined below). 
 WHEREAS, the Company is party to (a) an Indenture, dated as of September 9, 2013 (as amended, restated,
supplemented or otherwise modified from time to time, the “Mortgage Bond Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Mortgage Bond Trustee”), pursuant to
which the Company is issuing and may in the future issue bonds in various series (the “Mortgage Bonds” and, collectively with the Mortgage Bond Indenture, the “Mortgage Bond Documents”), (b) an Indenture, dated
as of October 1, 2006 (as supplemented by the First Supplemental Indenture dated as of October 6, 2006, the Second Supplemental Indenture dated as of June 29, 2007, the Third Supplemental Indenture dated as of March 25, 2008 and
as further amended, restated, supplemented or otherwise modified from time to time, the “2006 Notes Indenture”) between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “2006 Indenture
Trustee”), pursuant to which the Company has issued its 5.80% Notes due 2036, 5.95% Notes due 2017 and 5.30% Notes due 2018 in an aggregate principal amount of $950,000,000 Outstanding (as defined in the Mortgage Bond Indenture) as of the
date of this Agreement (the “2006 Indenture Notes” and, collectively with the 2006 Notes Indenture, the “2006 Indenture Notes Documents”), and (c) an Indenture, dated as of February 8, 2002 (as
supplemented by the First Supplemental Indenture dated as of February 8, 2002, the Second Supplemental Indenture dated as of January 14, 2003, the Third Supplemental Indenture dated as of October 1, 2004, the Fourth Supplemental
Indenture dated as of November 1, 2005 and as further amended, restated, supplemented or otherwise modified from time to time, the “2002 Notes Indenture” and together with the 2006 Notes Indenture, the “Equal and
Ratable Notes Indentures”) between the Company and The Bank of New York Mellon Trust Company, N.A. (formerly The Bank of New York), as Trustee (the “2002 Indenture Trustee”), pursuant to which the Company has issued its
6.750% Notes due 2031, 4.650% Notes due 2014 and 5.750% Notes due 2035 in an aggregate principal amount of $1,050,000,000 Outstanding as of the date of this Agreement (the “2002 Indenture Notes” and, collectively with the 2002 Notes
Indenture, the “2002 Indenture Notes Documents”; the 2002 Indenture Notes and 2006 Indenture Notes collectively being the “Equal and Ratable Notes”); 

WHEREAS, pursuant to the provisions of the Equal and Ratable Notes Indentures, the Company may not create or assume any mortgage, pledge or
other lien or encumbrance upon any Principal Facility (as defined below) or any interest it may have therein, without equally and ratably securing the Equal and Ratable Notes Obligations (as defined below); 

 WHEREAS, all or a substantial portion of the Mortgaged Property (as defined in the Mortgage Bond
Indenture; being referred to hereinafter as the “Shared Collateral”), which is intended by the Company to secure the Mortgage Bond Obligations, consists of Principal Facilities and/or interests of the Company therein, and thus is
subject to the requirements of the Equal and Ratable Notes Indentures described in the immediately preceding clause; and 
 WHEREAS, in
order for the Company to grant liens on the Shared Collateral to secure the Mortgage Bond Obligations and the Equal and Ratable Notes Obligations, the Mortgage Bond Trustee and the Company have requested and hereby direct the Collateral Trustee to
enter into this Agreement to enable the Company to comply with the provisions of the Equal and Ratable Notes Indentures. 
 NOW, THEREFORE,
to equally and ratably secure the Equal and Ratable Notes Obligations and the Mortgage Bond Obligations, the parties hereto hereby agree as follows: 

Section 1. Definitions, Etc. 

(a) Defined Terms. As used herein, the following terms shall have the following respective meanings: 

“2002 Indenture Notes” has the meaning assigned to such term in the preamble to this Agreement. 

“2002 Indenture Notes Documents” has the meaning assigned to such term in the preamble to this Agreement. 

“2002 Indenture Notes Obligations” means the obligations of the Company in respect of the due and punctual
payment of the principal of, any premium on, any interest on (including, to the extent legal permitted, all interest accrued thereon after the commencement of any insolvency or liquidation proceeding, including any applicable post-default rate, even
if such interest is not enforceable, allowable or allowed as a claim in such proceeding), and any other amounts payable in respect of the 2002 Indenture Notes in full when due, whether at stated maturity, by required prepayment, declaration,
acceleration, demand or otherwise (including payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a) (and any successor provision thereof);
provided however that “2002 Indenture Notes Obligations” shall not in any event include any obligations in respect of debt securities issued under the 2002 Notes Indenture after the date hereof. 

“2002 Indenture Trustee” has the meaning assigned to such term in the preamble to this Agreement. 

“2002 Notes Indenture” has the meaning assigned to such term in the preamble to this Agreement. 

  
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 “2006 Indenture Notes” has the meaning assigned to such term in
the preamble to this Agreement. 
 “2006 Indenture Notes Documents” has the meaning assigned to such term in
the preamble to this Agreement. 
 “2006 Indenture Notes Obligations” means the obligations of the Company
in respect of the due and punctual payment of the principal of, any premium on, any interest on (including, to the extent legal permitted, all interest accrued thereon after the commencement of any insolvency or liquidation proceeding, including any
applicable post-default rate, even if such interest is not enforceable, allowable or allowed as a claim in such proceeding), and any other amounts payable in respect of the 2006 Indenture Notes in full when due, whether at stated maturity, by
required prepayment, declaration, acceleration, demand or otherwise (including payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a) (and any
successor provision thereof); provided however that “2006 Indenture Notes Obligations” shall not in any event include any obligations in respect of debt securities issued under the 2006 Notes Indenture after the date hereof. 

“2006 Indenture Trustee” has the meaning assigned to such term in the preamble to this Agreement. 

“2006 Notes Indenture” has the meaning assigned to such term in the preamble to this Agreement. 

“Bankruptcy Event” means the occurrence of any one or more of the following events: 

(a) by decree of a court of competent jurisdiction the Company is adjudicated a bankrupt or insolvent, or an order is made by
such court for the winding up or liquidation of the affairs of the Company or approving a petition seeking reorganization or arrangement of the Company under the bankruptcy law or other law or statute of the United States of America or of any State,
or, by order of such court, a trustee or liquidator or receiver is appointed for the Company or for the property of the Company, and such decree or order shall continue in effect for a period of 90 days; or 

(b) the Company files a petition for voluntary bankruptcy, or consents to the filing of any such petition, or makes an
assignment for the benefit of creditors, or consents to the appointment of a trustee or liquidator or receiver of the Company or of all or a substantial part of the Mortgaged Property, or files a petition or answer or consent seeking reorganization
or arrangement under the bankruptcy law or other law or statute of the United States of America or of any State, or consents to the filing of any such petition, or files a petition to take advantage of any debtors’ act. 

“Collateral Trustee” has the meaning assigned to such term in the preamble to this Agreement. 

  
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 “Collateral Trustee’s Fees” means all fees, costs and
expenses of the Collateral Trustee of the type described in Section 4.03. 
 “Company” has the meaning
assigned to such term in the preamble to this Agreement. 
 “Debt Instruments” means, collectively,
(i) the 2002 Indenture Notes of each series and the 2002 Notes Indenture, (ii) the 2006 Indenture Notes of each series and the 2006 Notes Indenture and (iii) the Mortgage Bonds of each series and the Mortgage Bond Indenture. 

“Debt Trustees” means, collectively, the 2002 Indenture Trustee, the 2006 Indenture Trustee and the Mortgage
Bond Trustee. 
 “Distribution Date” means the date on which any funds are distributed by the Collateral
Trustee in accordance with the provisions of Section 3.01. 
 “Dollars” or “$” refers
to lawful money of the United States of America. 
 “Equal and Ratable Notes” has the meaning assigned to
such term in the preamble to this Agreement. 
 “Equal and Ratable Notes Documents” means, collectively, the
2002 Indenture Notes Documents and the 2006 Indenture Notes Documents. 
 “Equal and Ratable Notes
Indentures” has the meaning assigned to such term in the preamble to this Agreement. 
 “Equal and Ratable
Notes Obligations” means, collectively, the 2002 Indenture Notes Obligations and the 2006 Indenture Notes Obligations. 

“Event of Default” means (i) any “Default” under and as defined in the Mortgage Bond Indenture,
(ii) any “Event of Default” under and as defined in the 2002 Notes Indenture and (iii) any “Event of Default” under and as defined in the 2006 Notes Indenture. 

“Governmental Obligations” means securities which are (a) (i) direct obligations of the United
States of America where the payment or payments thereunder are supported by the full faith and credit of the United States of America or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the
United States of America where the timely payment or payments thereunder are unconditionally guaranteed as a full faith and credit obligation by the United States of America or (b) depository receipts issued by a bank (as defined in
Section 3(a)(2) of the Securities Act of 1933, as amended) as custodian with respect to any such Governmental Obligation or a specific payment of interest on or principal of or other amount with respect to any such Governmental Obligation held
by such custodian for the account of the holder of a depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such

  
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depository receipt from any amount received by the custodian in respect of the Governmental Obligation or the specific payment of interest on or principal of or other amount with respect to the
Governmental Obligation evidenced by such depository receipt. 
 “Investment Securities” means any of the
following obligations or securities on which none of the Company, MidAmerican Energy Holdings Company nor any other subsidiary of MidAmerican Energy Holdings Company thereof is the obligor: (i) Governmental Obligations; (ii) interest
bearing deposit accounts (which may be represented by certificates of deposit) in national or state banks (which may include the Collateral Trustee or any Paying Agent) or savings and loan associations having outstanding securities rated by a
nationally recognized rating organization in either of the two (2) highest rating categories (without regard to modifiers) for short term securities or in any of the three (3) highest rating categories (without regard to modifiers) for
long term securities; (iii) bankers’ acceptances drawn on and accepted by commercial banks (which may include the Collateral Trustee or any Paying Agent) having outstanding securities rated by a nationally recognized rating organization in
either of the two (2) highest rating categories (without regard to modifiers) for short term securities or in any of the three (3) highest rating categories (without regard to modifiers) for long term securities; (iv) direct
obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, any State or Territory of the United States of America or the District of Columbia, or any political subdivision of any of the foregoing, which
are rated in any of the three highest rating categories (without regard to modifiers) by a nationally recognized statistical rating organization; (v) bonds or other obligations of any agency or instrumentality of the United States of America;
(vi) corporate debt securities rated in any of the two (2) highest rating categories by a nationally recognized statistical rating organization (without regard to modifiers) for short term securities or in any of the three (3) highest
rating categories (without regard to modifiers) for short term securities; (vii) repurchase agreements with respect to any of the foregoing obligations or securities with banking or financial institutions (which may include the Collateral
Trustee or any Paying Agent) having outstanding securities rated by a nationally recognized rating organization in either of the two (2) highest rating categories (without regard to modifiers) for short term securities or in any of the three
(3) highest rating categories (without regard to modifiers) for long term securities; (viii) securities issued by any regulated investment company (including any investment company for which the Collateral Trustee or any Paying Agent is
the advisor), as defined in Section 851 of the Internal Revenue Code of 1986, as amended, or any successor section of such Code or successor federal statute, provided that the portfolio of such investment company is limited to
obligations that are bonds, notes, certificates of indebtedness, treasury bills or other securities now or hereafter issued, which are guaranteed as to principal and interest by the full faith and credit of the United States of America, which
portfolio may include repurchase agreements which are fully collateralized by any of the foregoing obligations and (ix) any other obligations or securities which may be lawfully purchased by the Collateral Trustee in its capacity as such. 

“Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation,
encumbrance, charge or security interest in, on or of such asset 

  
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and (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic
effect as any of the foregoing) relating to such asset. 
 “Mortgage” means the Mortgage, Security
Agreement, Fixture Filing and Financing Statement, dated as of September 9, 2013, made by the Company in favor of Collateral Trustee, as originally executed and as it may from time to time be supplemented or amended by one or more Supplemental
Mortgages. 
 “Mortgage Bonds” has the meaning assigned to such term in the preamble to this Agreement. 

“Mortgage Bond Documents” has the meaning assigned to such term in the preamble to this Agreement. 

“Mortgage Bond Indenture” has the meaning assigned to such term in the preamble to this Agreement. 

“Mortgage Bond Obligations” means the obligations of the Company in respect of the due and punctual payment of
the principal of, any premium on, any interest on (including, to the extent legal permitted, all interest accrued thereon after the commencement of any insolvency or liquidation proceeding, including any applicable post-default rate, even if such
interest is not enforceable, allowable or allowed as a claim in such proceeding), and any other amounts payable in respect of the Mortgage Bonds (whether now existing or hereinafter issued) in full when due, whether at stated maturity, by required
prepayment, declaration, acceleration, demand or otherwise (including payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a) (and any successor
provision thereof). 
 “Mortgage Bond Trustee” has the meaning assigned to such term in the preamble to this
Agreement. 
 “Mortgaged Property” has the meaning assigned to such term in the Mortgage Bond Indenture.

 “Paying Agent” has the meaning assigned thereto in the Mortgage Bond Indenture. 

“Person” means any individual, corporation, association, company, limited liability company, business trust,
partnership, limited liability partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 

“Principal Facility” has the meaning assigned thereto in the 2002 Notes Indenture and the 2006 Notes
Indenture. 
 “Prior Lien” has the meaning assigned thereto in Mortgage Bond Indenture. 

  
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 “Requisite Secured Parties” means, at any time, Persons holding
at such time a majority in principal amount of the sum of (a) the Mortgage Bonds of all series then Outstanding (as the term “Outstanding” is defined in the Mortgage Bond Indenture), (b) the 2006 Indenture Notes of all series
then Outstanding (as the term “Outstanding” is defined in the 2006 Notes Indenture) and (c) the 2002 Indenture Notes of all series then Outstanding (as the term “Outstanding” is defined in the 2002 Notes Indenture). For
purposes hereof, the Collateral Trustee shall be entitled to conclusively rely and act upon a certification from (i) the Mortgage Bond Trustee as to the aggregate amount of Mortgage Bonds of all series Outstanding at any time, (ii) the
2006 Indenture Trustee as to the aggregate amount of 2006 Indenture Notes of all series Outstanding at any time and (iii) the 2002 Indenture Trustee as to the aggregate amount of 2002 Indenture Notes of all series Outstanding at any time. 

“Responsible Officer” when used with respect to this Agreement means any officer of the Collateral Trustee
assigned by the Collateral Trustee to administer its corporate trust matters and who shall have direct responsibility for the administration of this Agreement. 

“Secured Obligations” means, collectively, (i) the Mortgage Bond Obligations, (ii) the 2006
Indenture Notes Obligations, (iii) the 2002 Indenture Notes Obligations and (iv) the obligations of the Company to the Collateral Trustee hereunder or under each other Shared Security Document. 

“Secured Parties” means, collectively, (i) the Mortgage Bond Trustee, for its benefit and the benefit of
the holders from time to time of the Mortgage Bonds, (ii) the 2002 Indenture Trustee, for its benefit and the benefit of the holders from time to time of the 2002 Indenture Notes, (iii) the 2002 Indenture Trustee, for its benefit and the
benefit of the holders from time to time of the 2002 Indenture Notes and (iv) the Collateral Trustee. 
 “Shared
Collateral” has the meaning assigned to such term in the preamble to this Agreement. 
 “Shared Security
Documents” means, collectively, the Mortgage, each Supplemental Mortgage and any other mortgages, deeds of trust, pledge agreements, security agreements, assignment agreements or other instruments providing for collateral security on Shared
Collateral from time to time executed by the Company in favor of the Collateral Trustee. 
 “Specified Mortgage Bond
Secured Parties” means the holders of Mortgage Bonds constituting the required composition of such holders pursuant to Section 12.15(a) of the Mortgage Bond Indenture. 

“Supplemental Mortgage” means a mortgage supplementing or amending the Mortgage, entered into by the Company
in favor of the Collateral Trustee in accordance with this Agreement, the Mortgage and the Mortgage Bond Indenture. 

  
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 “Triggering Event” means the occurrence of any of the following:
(i) the failure to pay the principal amount of the 2002 Indenture Notes, the 2006 Indenture Notes or Mortgage Bonds of any series, upon final maturity, after expiration of any relevant grace period, (ii) the occurrence of a Bankruptcy
Event, (iii) the acceleration of the principal amount of the Secured Obligations under the terms of any of the 2002 Indenture Notes Documents, the 2006 Indenture Notes Documents or the Mortgage Bond Documents or (iv) the issuance of any
direction by the Mortgage Bond Trustee to the Collateral Trustee, following the occurrence and during the continuance of any Default (as defined in the Mortgage Bond Indenture), to commence exercise of foreclosure or similar remedies under the
Shared Security Documents. 
 “Trust Estate” means the right, title and interest of the Collateral Trustee
in, to and under the Shared Security Documents and the collateral security described therein. 
 “UCC” means
the Uniform Commercial Code as in effect from time to time in the State of New York. 
 (b) Terms Generally. The definitions of terms
herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes”
and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires
otherwise (i) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified
(subject to any restrictions on such amendments, supplements or modifications set forth herein or in the Mortgage Bond Documents), (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns,
(iii) the words “herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (iv) all references
herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (v) the words “asset” and “property” shall be construed to have
the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

Section 2. Declaration and Acceptance of Trust; Remedies. 

2.01 Declaration and Acceptance of Trust. The Collateral Trustee hereby declares, and the Company agrees, that the Collateral Trustee
holds the Trust Estate as trustee in trust under this Agreement for the equal and ratable benefit of the Secured Parties as provided herein. The Collateral Trustee is appointed the Collateral Trustee hereunder by the Mortgage Bond Trustee and by
acceptance of the benefits of this Agreement and the Shared Security Documents, each Secured Party (whether or not a signatory hereto) (i) consents and agrees to the appointment of the Collateral Trustee as trustee hereunder, (ii) confirms
that the Collateral Trustee shall have the authority to act as the exclusive agent of such Secured Party for enforcement of any remedies under or with respect to the Shared Security Documents and the giving or withholding of any consent or approval
relating to any Shared Collateral or the 

  
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Company’s obligations with respect thereto and (iii) agrees that, except as expressly provided in this Agreement, such Secured Party shall not take any action to enforce any of such
remedies or give any such consents or approvals. 
 2.02 Determinations Relating to Shared Collateral. In the event (i) the
Collateral Trustee shall at any time receive any written request from the Company under a Shared Security Document for consent or approval with respect to any matter or thing relating to any Shared Collateral or the Company’s obligations with
respect thereto or (ii) there shall be due to or from the Collateral Trustee under the provisions of any Shared Security Document any performance or the delivery of any instrument or (iii) a Responsible Officer of the Collateral Trustee
shall receive notice of any nonperformance by the Company of any covenant or any breach of any representation or warranty set forth in any Shared Security Document, then, in each such event, the Collateral Trustee shall advise the Mortgage Bond
Trustee of the matter or thing as to which consent has been requested or the performance or instrument or other document required to be delivered or the nonperformance or breach of which the Collateral Trustee has received notice. The Mortgage Bond
Trustee shall at all times have the exclusive authority to direct the Collateral Trustee’s response to any of the events or circumstances contemplated in clauses (i), (ii) or (iii) above. 

2.03 Remedies. 
 (a)
Notice of Triggering Event. If the Collateral Trustee at any time receives notice of a Triggering Event, it shall promptly notify each Debt Trustee and the Company in writing that a Triggering Event has occurred. 

(b) Directions to Collateral Trustee. Except as otherwise expressly provided herein, the Mortgage Bond Trustee shall at all times
(whether before or after the occurrence of a Triggering Event) have the right and authority to direct the time, method and place of conducting any proceeding for the exercise of any right or remedy available to the Collateral Trustee with respect to
the Shared Collateral, or of exercising any trust or power conferred on the Collateral Trustee, or for the taking of any other action authorized by the instruments comprising the Trust Estate (including the making of any determinations to be made by
the Collateral Trustee thereunder); provided however that (i) Specified Mortgage Bond Secured Parties shall have the right at any time, to the extent permitted by Section 12.15(a) and the other provisions of the Mortgage Bond
Indenture, to give such direction to the Collateral Trustee upon prior written notice to the Mortgage Bond Trustee and the Collateral Trustee of the exercise of such rights under Section 12.15(a) of the Mortgage Bond Indenture,
(ii) following the occurrence of a Triggering Event, Requisite Secured Parties shall have the right at any time to give such direction to the Collateral Trustee upon prior written notice to the Mortgage Bond Trustee and the Collateral Trustee
and, thereafter, shall have the exclusive right and authority to direct the Collateral Trustee as to such matters and (iii) nothing in this Section 2.03 shall impair the right of the Collateral Trustee in its discretion to take any action
deemed proper by the Collateral Trustee and which is not inconsistent with such direction by the Mortgage Bond Trustee , Specified Mortgage Bond Secured Parties or Requisite Secured Parties, as applicable. 

2.04 Receipt of Funds. In the event any Secured Party shall receive any funds which, under this Agreement, belong to the Collateral
Trustee or any other Secured Party, such 

  
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Secured Party shall remit such funds promptly to the Collateral Trustee for distribution by the Collateral Trustee or to such other Secured Party, as the case may be, and prior to such remittance
shall hold such funds in trust for the Collateral Trustee or such other Secured Party, as the case may be. 
 2.05 Nature of Secured
Parties’ Rights. All of the Secured Parties shall be bound by any instruction or direction given by the Mortgage Bond Trustee, the Specified Mortgage Bond Secured Parties or the Requisite Secured Parties, as applicable, pursuant to this
Section 2. 
 Section 3. Application of Certain Amounts. 

3.01 Application of Proceeds. (a) Except as otherwise herein expressly provided, the proceeds of any collection, sale or other
realization of all or any part of the Shared Collateral pursuant to any of the Shared Security Documents, and any other cash constituting Shared Collateral at the time held by the Collateral Trustee under this Agreement, shall be held in trust by
the Collateral Trustee and applied as soon as practicable after receipt as follows: 
 First, to the Collateral
Trustee in an amount equal to the Collateral Trustee’s Fees which are unpaid as of the applicable Distribution Date (and to any Secured Party which has theretofore advanced or paid any such Collateral Trustee’s Fees in an amount equal to
the amount thereof so advanced or paid by such Secured Party) and to the payment of all taxes, assessments or Prior Liens (except any taxes, assessments or Prior Liens subject to which such collection, sale or other realization shall have been
made); 
 Second, after and giving effect to the payment in full of the amounts referred to in clause first
above (but subject to Section 3.04), to the Secured Parties equally and ratably, each in proportion to the amount of Secured Obligations then held by them (whether or not then due and payable), until all the Secured Obligations have been paid
in full (or monies set aside for such payment in full as provided in the next paragraph); and 
 Finally, after
payment in full of all Secured Obligations, to the Company or its successors or assigns or as a court of competent jurisdiction may direct, 

If at any time any moneys collected or received by the Collateral Trustee are distributable pursuant to clause second above to the 2002
Indenture Trustee or the 2006 Indenture Trustee, and if either the 2002 Indenture Trustee or the 2006 Indenture Trustee shall notify the Collateral Trustee in writing that no provision is made under the applicable Equal and Ratable Notes Indenture
for the application by the 2002 Indenture Trustee or 2006 Indenture Trustee, as applicable, of such moneys and that the applicable Equal and Ratable Notes Indenture does not effectively provide for the receipt and the holding by the 2002 Indenture
Trustee or 2006 Indenture Trustee of such moneys pending the application thereof, then the Collateral Trustee, after receipt of such moneys pending the application thereof, and after receipt of such notification, shall at the direction of the 2002
Indenture Trustee or 2006 Indenture Trustee acting, respectively, at the direction of the holders of a majority in aggregate principal amount of the 2002 Indenture Notes and the 2006 Indenture Notes, as the case may be, invest such amounts in
investments constituting Investment Securities as directed by the 2002 Indenture Trustee or 2006 

  
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Indenture Trustee, as applicable, maturing within 90 days after they are acquired by the Collateral Trustee or, in the absence of such instruction or in the event of conflicting instructions,
hold such moneys uninvested and shall hold all such amounts so distributable and all such investments and the net proceeds thereof in trust solely for the 2002 Indenture Trustee and/or 2006 Indenture Trustee (each, in its capacity as trustee) and
for no other purpose until such time as the 2002 Indenture Trustee and/or 2006 Indenture Trustee shall request in writing the delivery thereof by the Collateral Trustee for application pursuant to the applicable Equal and Ratable Notes Indenture.
The Collateral Trustee shall not be responsible for selecting particular investments, any diminution in funds resulting from any such investment or any liquidation or any liquidation thereof prior to maturity. 

(b) For the purpose of this Section 3.01, “proceeds” of Shared Collateral includes any and all cash, securities and other
property realized from collection, foreclosure or other enforcement of the Collateral Trustee’s Liens upon the Shared Collateral (including distributions of Shared Collateral in satisfaction of any Secured Obligations) or distributed in any
bankruptcy case or insolvency or liquidation proceeding in respect of any claim upon any Secured Obligation that is allowed or enforceable therein as a claim secured by Shared Collateral pursuant to the Shared Security Documents. If any Secured
Party collects or receives any proceeds from a foreclosure, collection or other enforcement or proceeds of any title or other insurance that should have been applied to the payment of the Secured Obligations in accordance with Section 3.01(a)
above, such Secured Party will forthwith deliver the same to the Collateral Trustee, for the benefit of the Secured Parties, to be applied in accordance with Section 3.01(a). 

3.02 Reliance by Collateral Trustee; Payments. The Collateral Trustee shall be entitled to conclusively rely upon a certificate from:
(i) the Mortgage Bond Trustee as to the aggregate amount of Mortgage Bond Obligations that on any Distribution Date are held by any Secured Party and as to the amount thereof that are due and payable, and shall remit the amount of any cash to
be applied pursuant to clause second of Section 3.01 to the Mortgage Bond Obligations that are then due and payable directly to the Mortgage Bond Trustee; (ii) the 2006 Indenture Trustee as to the aggregate amount of 2006 Note
Obligations that on any Distribution Date are held by any holder of 2006 Indenture Notes and as to the amount thereof that are due and payable, and shall, except to the extent provided in the second paragraph of Section 3.01, remit the amount
of any cash to be applied pursuant to clause second of Section 3.01 to the 2006 Note Obligations that are then due and payable directly to the 2006 Indenture Trustee; and (iii) the 2002 Indenture Trustee as to the aggregate amount
of 2002 Note Obligations that on any Distribution Date are held by any holder of 2002 Indenture Notes and as to the amount thereof that are due and payable, and shall, except to the extent provided in the second paragraph of Section 3.01, remit
the amount of any cash to be applied pursuant to clause second of Section 3.01 to the 2002 Note Obligations that are then due and payable directly to the 2002 Indenture Trustee; provided that nothing in this Section 3.02
shall prevent the Company from contesting any amounts claimed by any Debt Trustee in any such certification. 
 3.03 Payment
Provisions. For the purposes of applying the provisions of Section 3.01, all interest to be paid on any of the Secured Obligations pursuant to the terms of any Debt Instrument shall, as among the Secured Parties and irrespective of whether
such interest is or would be recognized or allowed in any bankruptcy or similar proceeding, be treated as a Secured Obligation for purposes hereof. 

  
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 3.04 Transfer of Certain Amounts Received as Shared Collateral. Anything herein or in any
of the other Shared Security Documents to the contrary notwithstanding, so long as no Triggering Event shall have occurred and be continuing, (a) in the event that the Collateral Trustee receives any proceeds of insurance with respect to any
Shared Collateral as provided in Section 7.11 of the Mortgage Bond Indenture, if directed by the Mortgage Bond Trustee to remit such amounts to the Company pursuant to Section 7.11 of the Mortgage Bond Indenture, the Collateral Trustee
shall promptly remit such amounts to the Company; or (b) in the event the Collateral Trustee is instructed by the Mortgage Bond Trustee to remit any other amounts, or return any securities or instruments, that have been delivered to the
Collateral Trustee from the Company or the Mortgage Bond Trustee to be held as Shared Collateral (for the avoidance of doubt, not including proceeds referred to in Section 3.01), for application pursuant to Section 11.01 of the Mortgage
Bond Indenture or other applicable provisions of the Mortgage Bond Indenture, the Collateral Trustee shall promptly remit or return such amounts or other property to the Mortgage Bond Trustee for application as provided in the Mortgage Bond
Indenture. 
 3.05 Certain Securities and Instruments Held by Collateral Trustee. 

(a) The Collateral Trustee shall use reasonable efforts to collect the principal of and interest on any Governmental Obligations and purchase
money obligations secured by a purchase money mortgage which are delivered to the Collateral Trustee pursuant to the terms of the Mortgage Bond Indenture, as and when such principal and interest become payable. Unless the Company is in default
in the payment of any principal of or interest on any Outstanding Mortgage Bonds or any Event Default shall be continuing, the interest received by the Collateral Trustee on any such obligation shall be paid over to the Company, and any payments
received by the Collateral Trustee on account of the principal of any such obligation in excess (as evidenced by a certificate of an officer of the Company) of the amount of credit used by the Company in respect of such obligation upon the release
of any Mortgaged Property from the Lien of the Mortgage shall also be paid to the Company. 
 (b) With respect to any obligations secured by
a purchase money mortgage which are delivered to the Collateral Trustee pursuant to the terms of the Mortgage Bond Indenture, and all substitutions therefor, the Collateral Trustee shall have and may exercise all the rights and powers of an owner of
such obligations and substitutions and, without limiting the generality of the foregoing, may collect and receive all insurance moneys payable to it under any provision thereof and apply the same in accordance with the provisions thereof, may
consent to extensions thereof at a higher or lower rate of interest, may join in any plan or plans of voluntary or involuntary reorganization or readjustment or rearrangement and may accept and hold under this Agreement new obligations, stocks or
other securities issued in exchange therefor under any such plan, and any discretionary action which the Collateral Trustee may be entitled to take in connection with any such obligations or substitutions therefor shall be taken, so long as no
Default (as defined in the Mortgage Bond Indenture) has occurred and is continuing, in accordance with the written request of the Company, evidenced by a certificate of an officer of the Company, or, while a Default (as defined in the Mortgage Bond
Indenture) is continuing, in the discretion of the Collateral Trustee, provided that the Collateral Trustee shall have no obligation to exercise any such discretion unless it receives instructions satisfactory to it from the Mortgage Bond
Trustee. 

  
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 3.06 Moneys, Securities and Instruments to be Held in Trust; Investment of Moneys Held in
Trust. 
 (a) All cash, instruments and securities (including Governmental Obligations and purchase money obligations secured by a
purchase money mortgage, as provided in Section 3.05) received by the Collateral Trustee pursuant to the terms hereof, the Mortgage Bond Indenture or the Shared Security Documents shall, until withdrawn, used, invested or applied as provided in
this Agreement, be held in trust for the purposes for which such cash or other property was received, but need not be segregated from other funds except as directed by the Company or as and to the extent required by law. 

(b) After compliance with any applicable legal requirements, the Collateral Trustee may deposit all or any part of cash received by it as
Collateral Trustee in certificates of deposit or demand accounts, to its credit as Collateral Trustee in its own banking department or, with the consent of the Company, in any bank or trust company having a combined capital and surplus of not less
than Fifty Million Dollars ($50,000,000). If such bank or trust company publishes reports of condition at least annually, pursuant to law or the requirement of any federal, state or District of Columbia supervising or examining authority, then for
the purposes of this paragraph the combined capital and surplus of such bank or trust company shall be deemed to be its combined capital and surplus as set forth in the most recent report of condition so published. So long as no Default (as defined
in the Mortgage Bond Indenture) is continuing, the Collateral Trustee shall pay to the Company any interest earned on any such certificate or account. 

(c) When so directed by a certificate of an officer of the Company, the Collateral Trustee shall invest all or any part of such cash received
by it in any Investment Securities; and the Collateral Trustee, when so directed by a certificate of an officer of the Company, shall sell or repurchase all or any part of such Investment Securities. Such Investment Securities shall be held by
the Collateral Trustee as part of the Mortgaged Property; provided, however, that the proceeds of such Investment Securities representing interest shall be paid or credited to the Company and shall not constitute Mortgaged
Property. If any such sale or any payment on the maturity of any such Investment Securities held by the Collateral Trustee, shall produce a net sum less than the cost (including accrued interest and investment expenses) of such Investment
Securities sold or paid, the Company will promptly pay to the Collateral Trustee such amount of cash as will, with the net proceeds of such sale or such payment, equal the cost (including accrued interest and investment expenses) of such Investment
Securities so sold or paid; and if any such sale or any payment at the maturity of any such Investment Securities held by the Collateral Trustee, shall produce a net sum greater than the cost (including accrued interest and investment expenses) of
such Investment Securities so sold or paid the Collateral Trustee shall, if no Event Default is continuing, pay to the Company the amount of such excess. The Company will also pay to the Collateral Trustee all brokers’ fees and other
expenses reasonably incurred by the Collateral Trustee in connection with its investment of such cash and the sale of such Investment Securities. 

(d) The Collateral Trustee shall allow interest on any cash held by it under this Agreement and deposited by it in its banking department, at
the current rate or rates, if any, from time to time paid by it on similar deposits of like size and nature over like periods of time, 

  
 13 

 
unless in a particular instance the Collateral Trustee and the Company shall otherwise agree. Interest so allowed and interest received by the Collateral Trustee from deposits in other banks
and trust companies of cash which is a part of the Mortgaged Property made pursuant to in paragraph (b) above, except as otherwise herein provided in respect of particular cash, shall, if no Default (as defined in the Mortgage Bond Indenture)
is continuing, be paid or credited to the Company by the Collateral Trustee. 
 (e) When so directed by a certificate of an officer of the
Company, the Collateral Trustee shall establish one or more accounts for the deposit and/or investment of monies received by it, including a separate account from which all cash payable by the Collateral Trustee on behalf of the Company shall be
paid and into which cash shall be deposited by the Company, or by the Collateral Trustee on behalf of the Company from other accounts or investments held or managed by the Collateral Trustee, as needed, so that such account shall be operated with a
zero balance. 
 Section 4. Agreements with Collateral Trustee. 

4.01 Delivery of Debt Instruments. On or before the date hereof, the Company shall have delivered to the Collateral Trustee a true and
complete copy of the Mortgage Bond Indenture and each of the Equal and Ratable Notes Indentures, in each case, as in effect on the date hereof. Promptly upon the execution thereof, the Company shall deliver to the Collateral Trustee a true and
complete copy of any and all amendments, modifications or supplements to the Mortgage Bond Indenture or the Equal and Ratable Notes Indentures. 

4.02 Information. With respect to the Mortgage Bonds, the 2006 Indenture Notes and the 2002 Indenture Notes, the Company (or, in the
case of the Mortgage Bonds, the Mortgage Bond Trustee) shall deliver to the Collateral Trustee within 30 days after request by the Collateral Trustee, a list setting forth (as of the date of such request) (i) the aggregate principal amount
outstanding thereunder and (ii) the interest rate or rates then in effect thereunder. In addition, the Company shall furnish to the Collateral Trustee within 30 days of a request therefor a list (as of the date of such request) setting forth
the name and address of each party to whom notices must be sent under the Mortgage Bond Indenture, the 2006 Indenture Notes Documents and the 2002 Indenture Notes Documents. The Company will promptly notify the Collateral Trustee of each change in
the identity of any Debt Trustee. 
 4.03 Expenses; Indemnity; Damage Waiver. 

(a) Costs and Expenses. The Company agrees to pay (i) to the Collateral Trustee, from time to time upon demand, compensation for
its services hereunder and for administering the Trust Estate, as heretofore or from time to time agreed upon in writing between the Collateral Trustee and the Company, (ii) all
out-of-pocket expenses incurred by the Collateral Trustee and its affiliates, including the reasonable fees, charges and disbursements of counsel for the Collateral
Trustee, in connection with the preparation and administration of this Agreement or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated),
(iii) all out-of-pocket expenses incurred or required to be advanced by the Collateral Trustee in connection with the administration of the Trust Estate or the preservation, protection or defense of the Shared

  
 14 

 
Collateral or the Trust Estate or the Collateral Trustee’s rights under this Agreement and in and to the Shared Collateral and the Trust Estate, (iv) all
out-of-pocket expenses incurred by the Collateral Trustee, including the fees, charges and disbursements of any counsel for the Collateral Trustee, in connection with
the enforcement or protection of its rights in connection with this Agreement, including its rights under this Section 4.03, including in connection with any workout, restructuring or negotiations in respect thereof and (v) all costs,
expenses, taxes, assessments and other charges incurred in connection with any filing, registration, recording or perfection of any security interest contemplated by this Agreement or any other document referred to therein. 

(b) Indemnification. The Company agrees to indemnify the Collateral Trustee, the Mortgage Bond Trustee and each Related Party of any of
the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including the reasonable fees, charges and
disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement or any agreement or instrument contemplated
hereby, the performance by the parties hereto of their respective obligations hereunder or the consummation of the transactions contemplated hereby, or (ii) any actual or prospective claim, litigation, investigation or proceeding relating to
any of the foregoing, whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses,
claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee. The benefits of this
Section 4.03 shall survive the termination of this Agreement and resignation or removal of the Collateral Trustee. 
 (c)
Payments. All amounts due under this Section 4.03 shall be payable promptly after written demand therefor. 
 Section 5.
The Collateral Trustee. 
 5.01 Certain Duties. The Collateral Trustee’s duties in respect of the Trust Estate shall
include the taking of action with respect to applications of the Company or others for consents, waivers, releases or other matters relating to the Trust Estate or the Shared Collateral as is explicitly required of the Collateral Trustee pursuant to
the terms hereunder and the prosecution following any Event of Default of any action or proceeding or the taking of any nonjudicial remedial action as shall be determined to be required pursuant to the provisions of Sections 2.02 and 2.03. The
Collateral Trustee’s sole duty with respect to the custody, safekeeping and physical preservation of the Shared Collateral in its possession, under the UCC or otherwise, shall be to deal with such Collateral in the same manner as it customarily
deals with similar collateral of other parties held by it. 
 5.02 Exculpatory Provisions. 

(a) No Representations. The Collateral Trustee shall not be responsible in any manner whatsoever for the correctness of any recitals,
statements, representations or warranties 

  
 15 

 
herein contained. The Collateral Trustee makes no representations as to the value or condition of the Trust Estate or any part thereof, or as to the title of the Company thereto or as to the
security afforded by the Shared Security Documents or this Agreement or as to the validity, execution (except its own execution thereof), enforceability, legality or sufficiency of the Shared Security Documents or this Agreement or of the Secured
Obligations, and the Collateral Trustee shall incur no liability or responsibility with respect to any such matters. The Collateral Trustee shall not be responsible for insuring the Trust Estate or for the payment of taxes, charges, assessments or
Liens upon the Trust Estate or otherwise as to the maintenance of the Trust Estate, including as to the preparation or filing of any UCC financing statements. The Collateral Trustee shall be deemed to have exercised reasonable care in the custody of
the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which it accords its own property and shall not be liable or responsible for any loss or diminution in the value of any of the Collateral, by reason
of the act or omission of any carrier, forwarding agency or other agent or bailee selected by the Collateral Trustee in good faith. 
 (b)
Limitations upon Duties. The Collateral Trustee shall not be required to ascertain or inquire as to the performance by the Company or any other Person of any of the covenants or agreements contained herein, in the Shared Security Documents or
in any Debt Instrument or any other agreement or instrument referred to therein. Whenever it is necessary for the Collateral Trustee to ascertain the amount of Secured Obligations then held by a Secured Party, the Collateral Trustee may conclusively
rely on a certificate of the Company or the relevant Debt Trustee as to such amount. 
 (c) Limitations upon Liability. The
Collateral Trustee shall not be personally liable for any action taken or omitted to be taken by it in accordance with this Agreement, the Shared Security Documents or any Debt Instrument, except for such actions or omissions that are determined by
a court of competent jurisdiction by final and nonappealable judgment to have been caused by the gross negligence or willful misconduct of the Collateral Trustee. The Collateral Trustee and its affiliates may make loans to, accept deposits from and
generally engage in any kind of business with the Company and its Subsidiaries as though the Collateral Trustee were not the collateral trustee hereunder. The Collateral Trustee shall not be liable for any action taken, suffered, or omitted to be
taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement. In no event shall the Collateral Trustee be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Collateral Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The
Collateral Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Collateral Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is
received by the Collateral Trustee at the Corporate Trust Office of the Collateral Trustee, and such notice references this Agreement. 

5.03 Delegation of Duties. The Collateral Trustee may execute any of the trusts or powers hereof and perform any duty hereunder either
directly or by or through agents or attorneys-in-fact and shall not be responsible nor liable for the negligence of any such agent or attorney-in-fact appointed by it with due care hereunder. 

  
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 5.04 Reliance by Collateral Trustee. 

(a) Reliance upon Certificates of Company. Whenever in the administration of the trusts of this Agreement the Collateral Trustee shall
deem it necessary or advisable that a matter be proved or established in connection with the taking of any action hereunder by the Collateral Trustee, such matter (unless other evidence in respect thereof be herein or in the Shared Security
Documents specifically prescribed) may be deemed to be conclusively provided or established by a certificate of an officer of the Company delivered to the Collateral Trustee, and such officers’ certificate shall be full warranty to Collateral
Trustee for any action taken, suffered or omitted in reliance thereon. 
 (b) Consultation with Counsel. The Collateral Trustee may
consult with counsel of its own selection (which may be in-house counsel for the Collateral Trustee) and the advice of such counsel or any opinion of counsel shall be full and complete authorization and protection in respect of any action taken,
suffered or omitted by it hereunder in good faith and in reliance thereon in respect of any action taken or suffered by it hereunder in accordance therewith. The Collateral Trustee shall have the right at any time to seek instructions concerning the
administration of the Trust Estate from any court of competent jurisdiction. 
 (c) Reliance upon Resolutions, Etc. The Collateral
Trustee may conclusively rely, and shall be fully protected in acting, upon any resolution, statement, certificate, instrument, opinion, report, notice, request, consent, order, bond or other paper or document (whether in its original, electronic or
facsimile form) which it has no reason to believe to be other than genuine and to have been signed or presented by the proper party or parties or, in the case of electronic versions, telecopies and telexes, to have been sent by the proper party or
parties. The Collateral Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Collateral Trustee and conforming to the requirements
of this Agreement or the Shared Security Documents. 
 (d) Conflict or Doubt in Actions to be Taken. In the event any disagreement
between or among any of the Debt Trustees and/or the holders of different classes or series of Debt Instruments shall result in a proceeding in a court of competent jurisdiction being instituted with respect to the proper action to be taken by the
Collateral Trustee hereunder, and an order shall be issued enjoining the Collateral Trustee from taking any action hereunder or under any Shared Security Document, the Collateral Trustee shall be entitled to refrain from taking action hereunder and
to retain the Trust Estate until the Collateral Trustee shall have received a replacement or supplemental order of such court with respect to the action to be taken. In addition, in the event that the Collateral Trustee in good faith is in doubt as
to what action it should take hereunder, the Collateral Trustee shall be entitled to refrain from taking action hereunder and to retain the Trust Estate until the Collateral Trustee shall have received a direction from the Mortgage Bond Trustee (or,
as applicable, by the other appropriate instructing parties as provided in Section 2.03(b)) with respect to the action to be taken. 

5.05 Limitations on Duties of Collateral Trustee. The Collateral Trustee shall not be liable with respect to any action taken or
omitted to be taken by it in accordance with the direction of the Mortgage Bond Trustee (or, as applicable, by the other appropriate instructing parties as provided in Section 2.03(b)). Except as herein otherwise expressly provided, the

  
 17 

 
Collateral Trustee shall not be under any obligation to take any action which is discretionary with the Collateral Trustee under the provisions hereof except upon the written request of the
Mortgage Bond Trustee (or except as otherwise provided in Section 2.03(b)). Upon reasonable prior notice, the Collateral Trustee shall make available for inspection and copying during normal business hours by any Secured Party each certificate
or other paper furnished to the Collateral Trustee by the Company or any Debt Trustee under or in respect of this Agreement, the Shared Security Documents or any portion of the Trust Estate. 

5.06 Moneys to be Held in Trust. All moneys received by the Collateral Trustee under or pursuant to any provision of this Agreement
shall be held in trust for the purposes for which they were paid or are held. 
 5.07 Resignation and Replacement of Collateral
Trustee. 
 (a) Resignation. The Collateral Trustee may at any time, by giving 60 days’ prior written notice to the Company
and the Mortgage Bond Trustee, resign and be discharged of the responsibilities hereby created, such resignation to become effective upon the earlier of (i) 60 days from the date of such notice and (ii) the appointment of a successor
collateral trustee or collateral trustees by the Mortgage Bond Trustee (with such successor to be chosen in consultation with, and reasonably satisfactory to, the Company, so long as no Event of Default has occurred and is continuing). If no
successor collateral trustee or collateral trustees shall be appointed and approved within 60 days from the date of the giving of the aforesaid notice of resignation, the Collateral Trustee (notwithstanding the termination of all of its other duties
and obligations hereunder by reason of such resignation), the Mortgage Bond Trustee or the Company may at the expense of the Company, apply to any court of competent jurisdiction to appoint a successor collateral trustee or collateral trustees
(which may be an individual or individuals) to act until such time, if any, as a successor collateral trustee or collateral trustees shall have been appointed as above provided. Any successor collateral trustee or collateral trustees so appointed by
such court shall immediately and without further act be superseded by any successor collateral trustee or collateral trustees approved by the Mortgage Bond Trustee as above provided. In connection with the foregoing, the Company hereby agrees with
the Secured Parties to pay the fees, costs and expenses of any successor Collateral Trustee, and to provide indemnification to any successor Collateral Trustee, to the same extent as it provides the same to the predecessor Collateral Trustee. 

(b) Appointment of Successor Collateral Trustee. If at any time the Collateral Trustee shall resign, fail to qualify to act as
Collateral Trustee or otherwise become incapable of acting, or if at any time a vacancy shall occur in the office of Collateral Trustee for any other cause, a successor collateral trustee or collateral trustees may be appointed by the Mortgage Bond
Trustee (with such successor to be chosen in consultation with, and reasonably satisfactory to, the Company, so long as no Event of Default has occurred and is continuing), and the powers, duties, authority and title of the predecessor collateral
trustee or collateral trustees terminated and canceled without procuring the resignation of such predecessor collateral trustee or collateral trustees, and without any other formality (except as may be required by applicable law) other than
appointment and designation of a successor collateral trustee or collateral trustees in writing, duly acknowledged, delivered to the predecessor collateral trustee or collateral trustees and each of the Debt Trustees, and filed for record in each
public office, if any, in which this Agreement is required to be filed. 

  
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 (c) Rights of Successor Collateral Trustee. The appointment and designation referred to in
Section 5.07(b) shall, after any required filing, be full evidence of the right and authority to make the same and of all the facts therein recited, and this Agreement shall vest in such successor collateral trustee or collateral trustees,
without any further act, deed or conveyance, all of the estate and title of its predecessor or their predecessors, and upon such filing for record the successor collateral trustee or collateral trustees shall become fully vested with all the
estates, properties, rights, powers, trusts, duties, authority and title of its predecessor or their predecessors; but such predecessor or predecessors shall, nevertheless, on the written request of the Mortgage Bond Trustee or any successor
collateral trustee or collateral trustees, execute and deliver an instrument transferring to such successor or successors all the estates, properties, rights, powers, trusts, duties, authority and title of such predecessor or predecessors hereunder,
take all steps reasonably necessary to assign the Liens and security interests in the Shared Collateral to the successor collateral trustee and shall deliver all securities, instruments, moneys and other Shared Collateral held by it or them to such
successor collateral trustee or collateral trustees. 
 (d) Filings at Expense of Company. Any required filing for record of the
instrument appointing a successor collateral trustee as hereinabove provided shall be made by and at the expense of the Company. 
 5.08
Qualifications of Successors to Collateral Trustee. Except as permitted by Section 5.07, any successor to the Collateral Trustee appointed pursuant to Section 5.07 shall be a bank or trust company in good standing and having power
so to act, incorporated under the laws of the United States of America or any State thereof or the District of Columbia, and having its principal corporate trust office within the forty-eight contiguous States, and shall also have capital, surplus
and undivided profits of not less than $500,000,000. 
 5.09 Merger of Collateral Trustee. Any Person into which the Collateral
Trustee may be merged, or with which it may be consolidated, or any Person resulting from any merger or consolidation to which the Collateral Trustee shall be a party, or any Person acquiring all or substantially all of the corporate trust business
of the Collateral Trustee, shall be the Collateral Trustee under this Agreement without the execution or filing of any paper or any further act on the part of the parties hereto. 

5.10 Appointment of Additional and Separate Collateral Trustee. Whenever (i) the Collateral Trustee or the Mortgage Bond Trustee
shall deem it necessary or prudent in order to conform to any law of any jurisdiction in which all or any part of the Shared Collateral shall be situated or to make any claim or bring any suit with respect to or in connection with the Shared
Collateral, or (ii) the Collateral Trustee shall be advised by counsel that it is so necessary or prudent in the interest of the Secured Parties, then in any such case, the Collateral Trustee shall execute and deliver from time to time all
instruments and agreements necessary or proper to constitute another bank or trust company or one or more Persons approved by the Collateral Trustee either to act as additional trustee or trustees of all or any part of the Trust Estate, jointly with
the Collateral Trustee, or to act as separate trustee or trustees of all or any part of the Trust 

  
 19 

 
Estate, in any such case with such powers as may be provided in such instruments or agreements, and to vest in such bank, trust company or Person as such additional trustee or separate trustee,
as the case may be, any property, title, right or power of the Collateral Trustee deemed necessary or advisable by the Collateral Trustee. The fees and expense of any such additional trustee or trustees shall be paid by the Company. 

Section 6. Release of Trust Estate and Shared Collateral; Expiration of Certain Rights. 

6.01 Release of Trust Estate; Expiration of Certain Rights. Notwithstanding any contrary provision herein, the Trust Estate shall be
assigned and released to (i) the Mortgage Bond Trustee for the benefit of the holders of Mortgage Bond Obligations on the earlier of (a) the date on which all the 2002 Indenture Notes Obligations and 2006 Indenture Notes Obligations shall
have been paid in full to the holders thereof, (b) the occurrence of a legal defeasance or covenant defeasance in respect of the Equal and Ratable Notes Indentures which removes or otherwise eliminates any provisions requiring equal and ratable
security for the holders of the 2006 Indenture Notes and 2002 Indenture Notes, (c) the date on which the Equal and Ratable Notes Indentures cease to require that the Shared Collateral must secure any Equal and Ratable Notes Obligations equally
and ratably or (d) the date that the provisions of the Equal and Ratable Notes Indentures that require equal and ratable security shall be held to be invalid, void or unenforceable by the final judgment of a court of competent jurisdiction, no
longer subject to appeal or review, or (ii) the Company on the date on which all the Mortgage Bond Obligations have been paid in full, the Mortgage Bond Trustee has given written notice thereof to the Collateral Trustee and all the Collateral
Trustee’s Fees have been paid in full. 
 6.02 Releases of Shared Collateral. 

(a) The Lien of the Shared Security Documents may, at any time, be released in whole or in part by the Collateral Trustee as provided in
Section 1.07 of the Mortgage or otherwise pursuant to (i) if no Triggering Event has occurred and is continuing, written directions signed by the Mortgage Bond Trustee, or (ii) if a Triggering Event has occurred and is continuing,
written directions from the Requisite Secured Parties, provided, in each case, that no such release shall be effected in such a manner so that fewer than all, but not all, of the Secured Parties continue to be entitled to the benefits of such
Lien (or become entitled to the benefits of a substitute Lien) without each of the Secured Parties hereunder being equally and ratably secured on the respective property subject to such Lien (to the extent such property is Shared Collateral), unless
the terms of the Debt Instruments applicable to such Secured Parties do not require that such Secured Parties be equally and ratably secured by the relevant Lien, as reflected in an opinion of counsel to such effect delivered to the Collateral
Trustee. No such release shall require any consent or approval by any other Secured Party. 
 (b) For the avoidance of doubt, if
(i) the Shared Security Documents provide for a release of the Collateral Trustee’s Lien over all or any part of the Shared Collateral upon a disposition of such Collateral, (ii) such disposition complies with the terms of the
Mortgage Bond Indenture or is directed in connection with the exercise of rights and remedies pursuant to Section 2.03(b) and (iii) upon such disposition, the Collateral Trustee’s Lien over such Shared Collateral would automatically
be released under the Shared Security Documents, then such 

  
 20 

 
release shall be deemed permitted under this Agreement without the consent of the Collateral Trustee or any other Secured Party hereunder and the Collateral Trustee shall be authorized to execute
and deliver any acknowledgment or other document reasonably requested by the Company to evidence such release. In addition, for the avoidance of doubt, Section 6.02(a) shall not apply to releases of the Collateral Trustee’s Lien over any
Shared Collateral upon a disposition of such Shared Collateral directed pursuant to Section 2.03(b) in connection with the exercise of rights and remedies during the continuation of a Triggering Event, which releases may be effected pursuant to
directions given to the Collateral Trustee by the appropriate instructing parties as provided in Section 2.03(b). 
 6.03 Amendments
of Shared Security Documents. The Mortgage Bond Trustee shall have the exclusive authority to direct the Collateral Trustee to amend, supplement or waive, or to permit the Company to amend, supplement or waive, any provision of the Shared
Security Documents without any consent or approval of, or prior notice to, any other Secured Party; provided however that (i) the Collateral Trustee shall not be obligated to execute or permit any such amendment, supplement or waiver
that affects the Collateral Trustee’s own rights, duties or immunities under this Agreement or the Shared Security Documents and (ii) any such amendment, supplement or waiver that would materially and adversely affect the rights of the
holders of the 2002 Indenture Notes or the 2006 Indenture Notes to equally and ratably share in the security provided for herein and in the Shared Security Documents, to the extent such equal and ratable sharing is required by the 2002 Notes
Indenture or 2006 Notes Indenture, as applicable, shall be joined in, or consented to in writing, by the 2002 Indenture Trustee or the 2006 Indenture Trustee, as the case may be. To determine that, under the foregoing clause (ii), it is not
necessary for each of the 2002 Indenture Trustee and 2006 Indenture trustee to join in, or consent in writing to, such amendment, supplement or waiver, the Collateral Trustee and the 2002 Indenture Trustee and/or 2006 Indenture Trustee shall each be
provided with (and shall be entitled to rely upon) an opinion of counsel of the Company to the effect that such amendment would not materially and adversely affect the rights of the holders of the 2002 Indenture Notes and/or 2006 Indenture Notes, as
the case may be, to equally and ratably share in the security provided for herein and in the Shared Security Documents, to the extent such equal and ratable sharing is required by the 2002 Notes Indenture or 2006 Notes Indenture, as applicable.
Notwithstanding the foregoing, it is agreed that any amendment, supplement or waiver with respect to the Shared Security Documents in the nature of, and solely to the extent constituting, a release of the Lien of the Shared Security Documents over
any Shared Collateral, shall be governed by Section 6.02(a) and not this Section 6.03. 
 Section 7. Miscellaneous.

 7.01 Equal and Ratable Security. This Agreement is intended to comply with the provisions of the Equal and Ratable Notes Documents
to secure the Equal and Ratable Notes Obligations equally and ratably with the Mortgage Bond Obligations in respect of the Shared Collateral. It is agreed that this Agreement and the Shared Security Documents are intended to secure, and provide for
security for, the Equal and Ratable Notes Obligations on an equal and ratable basis with the Mortgage Bond Obligations with respect to the Shared Collateral, so long as, and to the extent, required with respect to any series of Equal and Ratable
Notes, and this Agreement and the Shared Security Documents shall be construed and enforced to give effect to such intention. It is agreed that the foregoing shall be given effect notwithstanding (i) the time of

  
 21 

 
incurrence of the Mortgage Bond Obligations or any series of Equal and Ratable Notes Obligations, (ii) the order or method of attachment or perfection of any Liens on any Shared Collateral
securing the Mortgage Bond Obligations or any series of Equal and Ratable Notes Obligations, (iii) the time or order of filing or recording of financing statements or other documents filed or recorded to perfect any Lien upon any Shared
Collateral, (iv) the time of taking of possession or control over any Shared Collateral, (v) that any Lien granted under the Shared Security Documents on any Shared Collateral may not have been perfected or may be or have become
subordinated, by equitable subordination or otherwise, to any other Lien on the Shared Collateral, or (vi) the rules for determining priority under any law governing the relative priorities of Liens. Any and all rights not herein expressly
given to the 2002 Indenture Trustee and/or 2006 Indenture Trustee are expressly reserved to the Mortgage Bond Trustee, it being understood that in the absence of a requirement to provide equal and ratable security set forth in the Equal and Ratable
Notes Documents, this Agreement would not have been accepted by the Mortgage Bond Trustee or the holders of the Mortgage Bonds. 
 7.02
Amendments, Supplements and Waivers. This Agreement may be amended at any time by an instrument in writing signed by the parties hereto; provided however that (i) the 2002 Indenture Trustee or the 2006 Indenture Trustee must join
in any such instrument to the extent that the same would materially and adversely affect the rights of the holders of the 2002 Indenture Notes or 2006 Indenture Notes, as the case may be, to equally and ratably share in the security provided for
herein and in the Shared Security Documents, to the extent such equal and ratable sharing is required by the 2002 Notes Indenture or 2006 Notes Indenture, as applicable, and (ii) the Collateral Trustee shall not be obligated to execute any such
instrument to the extent it would affect the Collateral Trustee’s own rights, duties or immunities under this Agreement or the Shared Security Documents. To determine that, under the foregoing clause (i), it is not necessary for each of the
2002 Indenture Trustee or 2006 Indenture Trustee to join in such amendment, the Collateral Trustee and 2002 Indenture Trustee and/or 2006 Indenture Trustee shall each be provided with (and shall be entitled to rely upon) an opinion of counsel, which
may be counsel of the Company to the effect that such amendment would not materially and adversely affect the rights of the holders of the 2002 Indenture Notes and/or 2006 Indenture Notes, as the case may be, to equally and ratably share in the
security provided for herein and in the Shared Security Documents, to the extent such equal and ratable sharing is required by the 2002 Notes Indenture or 2006 Notes Indenture, as applicable. 

7.03 Notices. All notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight
courier service, mailed by certified or registered mail or sent by telecopy, as follows: 
 (i) if to the Company: 

MidAmerican Energy Company 
 666
Grand Avenue, Suite 500 
 Des Moines, Iowa 50309-2580 

Attention: Corporate Secretary 

Fax: 515-242-4295 

  
 22 

 (ii) if to the Collateral Trustee: 

The Bank of New York Mellon Trust Company, N.A. 

2 North LaSalle Street, Suite 1020 

Chicago, IL 60602 

Attention: Corporate Trust Administration 

Fax: 312-827-8542 
 (iii) if to
any Debt Trustee: 
 The Bank of New York Mellon Trust Company, N.A. 

2 North LaSalle Street, Suite 1020 

Chicago, IL 60602 

Attention: Corporate Trust Administration 

Fax: 312-827-8542 
 or, in the case of any
party, at such other address as shall be designated by it in a written notice to each of the other parties. All such notices and other communications given in accordance with the provisions of this Agreement shall be deemed to have been given on the
date of receipt. 
 7.04 The Collateral Trustee agrees to accept and act upon instructions or directions pursuant to this Agreement sent by
unsecured e-mail, pdf, facsimile transmission or other similar unsecured electronic methods, provided, however, that the Collateral Trustee shall have received an incumbency certificate listing persons designated to give such instructions or
directions and containing specimen signatures of such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is to be added or deleted from the listing. If the Company elects to give the Collateral
Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Collateral Trustee in its discretion elects to act upon such instructions, the Collateral Trustee’s understanding of such instructions shall be
deemed controlling. The Collateral Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Collateral Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions
conflict or are inconsistent with a subsequent written instruction. The Company agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Collateral Trustee, including without
limitation the risk of the Collateral Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties. 

7.05 Captions. The captions and section headings appearing herein are included solely for convenience of reference and are not intended
to affect the interpretation of any provision of this Agreement. 
 7.06 Severability. Any provision of this Agreement held to be
invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining
provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

  
 23 

 7.07 Dealings with the Company. Upon any application or demand by the Company to the
Collateral Trustee to take or permit any action under any of the provisions of this Agreement or under any Shared Security Document, the Company shall furnish to the Collateral Trustee a certificate of an appropriate officer and an opinion of
counsel stating that all conditions precedent, if any, provided for in this Agreement or such Shared Security Document relating to the proposed action have been complied with. 

7.08 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the respective successors and assigns of the
Company, the Secured Parties and each holder of any of the Secured Obligations (provided however that the Company shall not assign or transfer its rights or obligations hereunder without the prior written consent of the Collateral Trustee and
the Mortgage Bond Trustee). 
 7.09 Governing Law; Jurisdiction; Etc. 

(a) Governing Law. This Agreement shall be governed by and construed in accordance with the law of the State of New York. 

(b) SUBMISSION TO JURISDICTION. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE
NONEXCLUSIVE JURISDICTION OF THE SUPREME COURT OF THE STATE OF NEW YORK AND THE FEDERAL DISTRICT COURT, IN EACH CASE, SITTING IN THE BOROUGH OF MANHATTAN AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS AGREEMENT AND EACH SHARED SECURITY DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING
MAY BE HEARD AND DETERMINED IN THE STATE OF NEW YORK OR, TO THE EXTENT PERMITTED BY LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER
JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. 
 (c) WAIVER OF VENUE. EACH PARTY HERETO HEREBY
IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT IT MAY LEGALLY AND EFFECTIVELY DO SO, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS
AGREEMENT OR ANY SHARED SECURITY DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION 8.08. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO
THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 
 (d) Service of Process. Each party to this Agreement irrevocably
consents to service of process in the manner provided for notices in Section 7.03. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

  
 24 

 7.10 Counterparts. This Agreement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page to this Agreement by telecopy
shall be effective as delivery of a manually executed counterpart of this Agreement. 
 7.11 Waiver Of Jury Trial. EACH PARTY HERETO
HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE SHARED SECURITY DOCUMENTS OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO FURTHER WAIVES ANY RIGHT TO CONSOLIDATE ANY ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL
CANNOT BE OR HAS NOT BEEN WAIVED. 
 7.12 No Waiver. No failure on the part of the any Secured Party to exercise, and no course of
dealing with respect to, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise by any Secured Party of any right, power or remedy hereunder preclude any other or
further exercise thereof or the exercise of any other right, power or remedy. The remedies herein are cumulative and are not exclusive of any remedies provided by law. 

7.13 Survival. The provisions of Section 4.03 and Section 5 shall survive and remain in full force and effect regardless of
the consummation of the transactions contemplated hereby, the resignation or removal of the Collateral Trustee and the repayment in full of the Secured Obligations. 

7.14 Force Majeure. In no event shall the Collateral Trustee be responsible or liable for any failure or delay in the performance of
its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Collateral Trustee shall use reasonable efforts which are consistent with
accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 7.15 Incorporation by
Reference. In connection with its execution and acting hereunder, the Mortgage Bond Trustee is entitled to all rights, privileges, protections, benefits, immunities and indemnities provided to it and the Collateral Trustee hereunder and to it
under the Mortgage Bond Indenture. 

  
 25 

 [Remainder of page intentionally left blank] 

  
 26 

 IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be duly executed and
delivered as of the date first above written. 
  

			
	MIDAMERICAN ENERGY COMPANY
		
	By	 	 /s/ William J. Fehrman

	Name:	 	William J. Fehrman
	Title:	 	President and Chief Executive Officer

 Signature Page to Intercreditor and Collateral Trust Agreement 

 
					
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

as Mortgage Bond Trustee

		
	By	 	 /s/ Richard Tarnas

		 	Name:	 	Richard Tarnas
		 	Title:	 	Vice President
	
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

as Collateral Trustee

		
	By	 	 /s/ Richard Tarnas

		 	Name:	 	Richard Tarnas
		 	Title:	 	Vice President

 Signature Page to Intercreditor and Collateral Trust AgreementEX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 COMMON STOCK
PURCHASE AGREEMENT 
 BY AND AMONG 

PAR PETROLEUM CORPORATION 

AND 
 THE PURCHASERS
NAMED HEREIN 

 TABLE OF CONTENTS 

 

							
	 ARTICLE I DEFINITIONS
	  	 	2	  
	 Section 1.1
	 	Definitions	  	 	2	  
	 Section 1.2
	 	Accounting Procedures and Interpretation	  	 	6	  
		
	 ARTICLE II SALE AND PURCHASE
	  	 	6	  
	 Section 2.1
	 	Sale and Purchase	  	 	6	  
	 Section 2.2
	 	Closing	  	 	7	  
	 Section 2.3
	 	Nature of Purchasers’ Obligations and Rights	  	 	7	  
		
	 ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE COMPANY
	  	 	7	  
	 Section 3.1
	 	Corporate Existence	  	 	7	  
	 Section 3.2
	 	Capitalization and Valid Issuance of Purchased Common Stock	  	 	8	  
	 Section 3.3
	 	Company SEC Documents	  	 	9	  
	 Section 3.4
	 	No Material Adverse Change	  	 	10	  
	 Section 3.5
	 	Litigation	  	 	10	  
	 Section 3.6
	 	No Breach	  	 	11	  
	 Section 3.7
	 	Authority and Enforceability	  	 	11	  
	 Section 3.8
	 	Approvals	  	 	12	  
	 Section 3.9
	 	Investment Company Status	  	 	12	  
	 Section 3.10
	 	Offering	  	 	12	  
	 Section 3.11
	 	Certain Fees	  	 	12	  
	 Section 3.12
	 	No Side Agreements	  	 	13	  
	 Section 3.13
	 	Internal Accounting Controls	  	 	13	  
	 Section 3.14
	 	Registration Rights	  	 	13	  
	 Section 3.15
	 	Insurance	  	 	14	  
	 Section 3.16
	 	Transactions with Affiliates	  	 	14	  
	 Section 3.17
	 	Tax Matters	  	 	14	  
	 Section 3.18
	 	Acknowledgment	  	 	14	  
	 Section 3.19
	 	Questionable Payments	  	 	15	  
	 Section 3.20
	 	No Manipulation of Stock	  	 	15	  
	 Section 3.21
	 	Money Laundering Laws	  	 	15	  
	 Section 3.22
	 	OFAC	  	 	15	  
	 Section 3.23
	 	Purchaser Disclosures	  	 	15	  
		
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES OF EACH PURCHASER
	  	 	16	  
	 Section 4.1
	 	Valid Existence	  	 	16	  
	 Section 4.2
	 	Authority and Enforceability	  	 	16	  
	 Section 4.3
	 	No Breach	  	 	16	  
	 Section 4.4
	 	Certain Fees	  	 	16	  
	 Section 4.5
	 	Unregistered Securities	  	 	17	  
	 Section 4.6
	 	No Side Agreements	  	 	18	  
	 Section 4.7
	 	Short Selling	  	 	19	  

							
	 ARTICLE V COVENANTS
	  	 	19	  
	 Section 5.1
	 	Taking of Necessary Action	  	 	19	  
	 Section 5.2
	 	Use of Proceeds	  	 	19	  
	 Section 5.3
	 	Tax Information	  	 	19	  
	 Section 5.4
	 	Short Selling Acknowledgement and Agreement	  	 	19	  
	 Section 5.5
	 	Securities Laws Disclosure; Publicity	  	 	19	  
	 Section 5.6
	 	No Conflicting Agreements	  	 	20	  
	 Section 5.7
	 	Compliance with Laws	  	 	20	  
	 Section 5.8
	 	Listing of Purchased Common Stock and Related Matters	  	 	20	  
	 Section 5.9
	 	Termination of Covenants	  	 	20	  
	 Section 5.10
	 	Subsequent Equity Sales	  	 	21	  
	 Section 5.11
	 	Equal Treatment of Purchasers	  	 	21	  
	 Section 5.12
	 	Form D; Blue Sky	  	 	21	  
	 Section 5.13
	 	Pledges	  	 	22	  
	 Section 5.14
	 	Pre-Closing Covenants	  	 	22	  
	 Section 5.15
	 	Cooperation	  	 	22	  
		
	 ARTICLE VI CLOSING CONDITIONS
	  	 	22	  
	 Section 6.1
	 	Conditions to the Closing	  	 	22	  
	 Section 6.2
	 	Company Deliveries	  	 	25	  
	 Section 6.3
	 	Purchaser Deliveries	  	 	26	  
		
	 ARTICLE VII INDEMNIFICATION, COSTS AND EXPENSES
	  	 	26	  
	 Section 7.1
	 	Indemnification by the Company	  	 	26	  
	 Section 7.2
	 	Indemnification by Purchasers	  	 	27	  
	 Section 7.3
	 	Conduct of Indemnification Proceedings	  	 	27	  
		
	 ARTICLE VIII MISCELLANEOUS
	  	 	28	  
	 Section 8.1
	 	Interpretation	  	 	28	  
	 Section 8.2
	 	Fees and Expenses	  	 	28	  
	 Section 8.3
	 	Survival of Provisions	  	 	28	  
	 Section 8.4
	 	No Waiver; Modifications in Writing	  	 	29	  
	 Section 8.5
	 	Binding Effect; Assignment	  	 	29	  
	 Section 8.6
	 	Confidentiality and Non-Disclosure	  	 	30	  
	 Section 8.7
	 	Communications	  	 	30	  
	 Section 8.8
	 	Removal of Legend	  	 	31	  
	 Section 8.9
	 	Entire Agreement	  	 	31	  
	 Section 8.10
	 	Governing Law and Venue; Waiver of Jury Trial	  	 	31	  
	 Section 8.11
	 	Execution in Counterparts	  	 	32	  
	 Section 8.12
	 	Termination	  	 	33	  
	 Section 8.13
	 	Recapitalization, Exchanges, Etc	  	 	34	  
	 Section 8.14
	 	Obligations Limited to Parties to Agreement	  	 	34	  
	 Section 8.15
	 	Remedies	  	 	35	  

 Schedules and Exhibits: 
  

	
	Schedule 2.1 Purchasers and Commitment Amounts
	
	Exhibit A - Registration Rights Agreement
	Exhibit B - Par Petroleum Corporation Officer’s Certificate
	Exhibit C - Purchasers’ Officer’s Certificate
	Exhibit D - Par Petroleum Corporation Secretary’s Certificate
	Exhibit E - Cross Receipt

 COMMON STOCK PURCHASE AGREEMENT 

This COMMON STOCK PURCHASE AGREEMENT, dated as of September 10, 2013 (this “Agreement”), by and among PAR PETROLEUM
CORPORATION, a Delaware corporation (the “Company”), and each of the purchasers named in Schedule 2.1 to this Agreement (each such purchaser a “Purchaser” and, collectively, the
“Purchasers”). 
 WHEREAS, on June 14, 2013, the Company and each of the Purchasers entered into a commitment letter
(the “Commitment Letter”) whereby each of the Purchasers offered the Company its binding commitment and agreement to purchase in the aggregate $200,000,000 of shares of the Common Stock at a price of $1.39 per share, for the
purposes and upon and subject to the terms and conditions set forth therein; 
 WHEREAS, on June 17, 2013, a wholly owned subsidiary of
the Company entered into the TSO Acquisition Agreement to acquire all of the issued and outstanding units representing the membership interests in TSO Hawaii, and indirectly TSO Hawaii’s wholly owned subsidiary, Smiley’s Super Service,
Inc. (the “TSO Acquisition”); 
 WHEREAS, the Company desires to finance a portion of the TSO Acquisition through the sale
of an aggregate of $200,000,000 of Common Stock, and the Purchasers desire to purchase severally an aggregate of $200,000,000 of Common Stock from the Company, each in accordance with the provisions of this Agreement; 

WHEREAS, the Company and each of the Purchasers are executing and delivering this Agreement in reliance upon the exemption from securities
registration afforded by the provisions of Regulation D, as promulgated by the United States Securities and Exchange Commission under the Securities Act (“Regulation D”); 

WHEREAS, it is a condition to the obligations of the Purchasers and the Company under this Agreement that all closing conditions (other than
the payment of the purchase price) required to consummate the TSO Acquisition have been satisfied or waived, and the parties to the TSO Acquisition Agreement are prepared to consummate the TSO Acquisition substantially on the terms set forth therein
contemporaneously with the consummation of the transactions contemplated under this Agreement; and 
 WHEREAS, contemporaneous with the
consummation of the transactions contemplated under this Agreement, the parties hereto will execute and deliver a Registration Rights Agreement, in the form attached hereto as Exhibit A (the “Registration Rights Agreement”),
pursuant to which the Company will agree to provide certain registration rights under the Securities Act and applicable state securities Laws. 

 NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 

ARTICLE I 

DEFINITIONS 

Section 1.1 Definitions. As used in this Agreement, and unless the context requires a different meaning, the following
terms have the meanings indicated: 
 “2012 Long Term Incentive Plan” means the Par Petroleum Corporation 2012 Long Term
Incentive Plan. 
 “2012 Registration Rights Agreement” shall have the meaning specified in Section 3.14. 

“2012 Registration Rights Amendment” shall have the meaning specified in Section 6.1(a)(v). 

“5% Holders” shall have the meaning specified in Section 6.1(a)(iii). 

“Action” against a Person means any lawsuit, action, proceeding, investigation or complaint before any Governmental
Authority, mediator or arbitrator. 
 “Affiliate” means, with respect to a specified Person, any other Person, whether now
in existence or hereafter created, directly or indirectly controlling, controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings,
“controlling,” “controlled by” and “under common control with”) means the power to direct or cause the direction of the management and policies of such Person, directly or indirectly, whether through the ownership of
voting securities, by contract or otherwise. 
 “Agreement” shall have the meaning specified in the introductory paragraph.

 “Anti-Dilution Amendment” shall have the meaning specified in Section 6.1(a)(iv). 

“Business Day” means any day other than a Saturday, a Sunday, or a legal holiday for commercial banks in Houston, Texas or
New York, New York. 
 “Charter Amendment” shall have the meaning specified in Section 6.1(a)(iii). 

“Closing” shall have the meaning specified in Section 2.2. 

“Closing Date” shall have the meaning specified in Section 2.2. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time. 

“Commission” means the United States Securities and Exchange Commission. 

“Commitment Amount” means the dollar amount set forth opposite each Purchaser’s name on Schedule 2.1 to this
Agreement under the heading “Gross Proceeds to Issuer.” 
 “Commitment Letter” shall have the meaning set forth
in the Recitals. 

  
 2 

 “Common Stock Price” shall have the meaning specified in Section 2.1(b).

 “Common Stockholders” means the holders of the Common Stock of the Company. 

“Common Stock” means the common stock, $0.01 par value, of the Company. 

“Common Stock Equivalents” means any securities of the Company or its Subsidiaries which would entitle the holder thereof to
acquire at any time Common Stock, including without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is at any time convertible into or exchangeable for, or otherwise entitles the holder thereof to receive,
Common Stock. 
 “Company” shall have the meaning specified in the introductory paragraph. 

“Company Financial Statements” shall have the meaning specified in Section 3.3. 

“Company Indemnitee” shall have the meaning specified in Section 7.2. 

“Company Material Adverse Effect” means any material and adverse effect on (i) the assets, liabilities, financial
condition, business or operations of the Company and its Subsidiaries, taken as a whole, other than those occurring as a result of general economic or financial conditions or other developments that are not unique to and do not have a material
disproportionate impact on the Company and its Subsidiaries but also affect other Persons who participate in or are engaged in the lines of business of which the Company and its Subsidiaries participate or are engaged, (ii) the ability of the
Company and its Subsidiaries, taken as a whole, to carry out their businesses as of the date of this Agreement, (iii) the legality, validity or enforceability of any Transaction Document or (iv) the ability of the Company to consummate the
transactions, or perform its obligations, under any Transaction Document on a timely basis. 
 “Company SEC Documents”
shall have the meaning specified in Section 3.3. 
 “Company’s Knowledge” means the actual knowledge of the
executive officers (as defined in Rule 405 under the Securities Act) of the Company, other than Will Monteleone, after due inquiry. 

“Disclosure Deadline” shall have the meaning specified in Section 5.5(a). 

“Evaluation Date” shall have the meaning specified in Section 3.13. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations of the
Commission promulgated thereunder. 
 “GAAP” means generally accepted accounting principles in the United States of
America in effect from time to time; provided, however, that for purposes of the Company Financial Statements prepared as of a certain date, GAAP referenced therein shall be GAAP as of the date of the Company Financial Statements.

  
 3 

 “Governmental Authority” shall include the country, state, county, city and
political subdivisions in which any Person or such Person’s Property is located or that exercises valid jurisdiction over any such Person or such Person’s Property, and any court, agency, department, commission, board, bureau or
instrumentality of any of them and any monetary authorities, stock exchanges and self regulatory organizations that exercise valid jurisdiction over any such Person or such Person’s Property. Unless otherwise specified, all references to
Governmental Authority herein shall mean a Governmental Authority having jurisdiction over, where applicable, the Company, its Subsidiaries or any of their Property or any of the Purchasers. 

“Law” or “Laws” means any federal, state, local or foreign order, writ, injunction, judgment, settlement,
award, decree, statute, law, rule or regulation. 
 “Losses” shall have the meaning specified in Section 7.1. 

“Lien” means any interest in Property securing an obligation owed to, or a claim by, a Person other than the owner of the
Property, whether such interest is based on the common law, statute or contract, and whether such obligation or claim is fixed or contingent, and including the lien or security interest arising from a mortgage, encumbrance, pledge, security
agreement, conditional sale or trust receipt or a lease, consignment or bailment for security purposes. 
 “Money Laundering
Laws” shall have the meaning specified in Section 3.21. 
 “OFAC” shall have the meaning specified in
Section 3.22. 
 “Organizational Documents” means, as the context requires, (i) the Amended and Restated
Certificate of Incorporation and Amended and Restated Bylaws of the Company, as amended to date, and/or (ii) the certificate or incorporation and bylaws or other equivalent documents of the Company’s Subsidiaries, as amended to date. 

“Party” or “Parties” means the Company and the Purchasers, individually or collectively, as the case may be.

 “Person” means any individual, corporation, company, voluntary association, partnership, joint venture, trust, limited
liability company, business trust, joint stock company, sole proprietorship, unincorporated organization, Governmental Authority or any agency, instrumentality or political subdivision thereof, or any other form of entity. 

“Property” means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible.

 “Purchase Price” means the aggregate of each Purchaser’s Commitment Amount set forth opposite the Purchaser’s
name on Schedule 2.1 to this Agreement under the heading “Gross Proceeds to Issuer.” 
 “Purchased Common
Stock” means the Common Stock to be issued and sold to the Purchasers pursuant to this Agreement. 

  
 4 

 “Purchaser” or “Purchasers” shall have the meaning specified in
the introductory paragraph. 
 “Purchaser Designee” means, solely for purposes of Section 5.5(c), ZCOF Par Petroleum
Holdings, L.L.C. 
 “Purchaser Indemnitee” shall have the meaning specified in Section 7.1. 

“Purchaser Material Adverse Effect” means any material and adverse effect on the ability of a Purchaser to consummate the
transactions, or perform its obligations, under any Transaction Document on a timely basis. 
 “Registration Rights
Agreement” shall have the meaning specified in the Recitals. 
 “Regulation D” shall have the meaning specified in
the Recitals. 
 “Representatives” of any Person means the officers, members, managers, directors, employees, agents, legal
counsel, accountants, financial advisors or any other representatives of such Person. 
 “Required Purchasers” means the
Purchasers entitled to purchase a majority of the Purchased Common Stock based on the total Commitment Amounts. 
 “Securities
Act” means the Securities Act of 1933, as amended from time to time, and the rules and regulations of the Commission promulgated thereunder. 

“Short Sales” means, without limitation, all “short sales” as defined in Rule 200 promulgated under Regulation SHO
under the Exchange Act, whether or not against the box, and forward sale contracts, options, puts, calls, short sales, “put equivalent positions” (as defined in Rule 16a-1(h) under the Exchange Act) and similar arrangements, and sales and
other transactions through non-U.S. broker dealers or foreign regulated brokers. 
 “Subsidiary” of any Person means
another Person, an amount of the voting securities, other voting ownership or voting partnership interests sufficient to elect at least a majority of its Board of Directors or other governing body or, if there are no such voting interests, 50% or
more of the equity interests, of which is owned directly or indirectly by such first Person. 
 “Trading Market” means any
of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the NYSE MKT, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange
or the OTC Bulletin Board (or any successors to any of the foregoing). 
 “Transaction Documents” means, collectively, this
Agreement, the Commitment Letter, the Registration Rights Agreement and any and all other material agreements or instruments executed and delivered by the Parties to evidence the execution, delivery and performance of this Agreement, and any
amendments, supplements, continuations or modifications thereto; provided that in the event of any conflict or ambiguity between the terms of the Commitment Letter and the terms of this Agreement, the terms of this Agreement shall control.

  
 5 

 “Transfer Agent” means Corporate Stock Transfer in its capacity as transfer
agent for the Common Stock. 
 “TSO Acquisition” shall have the meaning specified in the recitals. 

“TSO Acquisition Agreement” means that certain Membership Interest Purchase Agreement dated June 17, 2013, by and among
Tesoro Corporation, a Delaware corporation, Hawaii Pacific Energy, LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company, and solely for the limited purposes set forth therein, TSO Hawaii. 

“TSO Hawaii” means Tesoro Hawaii, LLC, a Hawaii limited liability company. 

“TSO Closing Date” means the date on which the TSO Acquisition is consummated. 

“Warrant Agreement” means that certain Warrant Issuance Agreement, dated as of August 31, 2012, by and between the
Company and certain purchasers of warrants, as may be amended or modified from time to time. 
 Section 1.2 Accounting
Procedures and Interpretation. Unless otherwise specified in this Agreement, all accounting terms used herein shall be interpreted, all determinations with respect to accounting matters under this Agreement shall be made, and all financial
statements and certificates and reports as to financial matters required to be furnished to the Purchasers under this Agreement shall be prepared, in conformity with GAAP applied on a consistent basis during the periods involved (except, in the case
of unaudited financial statements, as permitted by Form 10-Q promulgated by the Commission) and in compliance as to form in all material respects with applicable accounting requirements and with the published rules and regulations of the Commission
with respect thereto. 
 ARTICLE II 

SALE AND PURCHASE 

Section 2.1 Sale and Purchase. Contemporaneously with the consummation of the TSO Acquisition and subject to the terms and
conditions of this Agreement, at the Closing, the Company hereby agrees to issue and sell to each Purchaser, and each Purchaser hereby agrees, severally and not jointly, to purchase from the Company, the dollar amount of Purchased Common Stock set
forth opposite its name on Schedule 2.1 of this Agreement. Each Purchaser agrees to pay the Company the Common Stock Price for each share of Purchased Common Stock as set forth in Section 2.1(b). 

(a) Common Stock. The amount of Purchased Common Stock to be issued and sold to each Purchaser shall be equal to the
amount next to such Purchaser’s name under the column entitled “Common Stock” in Schedule 2.1 of this Agreement. The Purchased Common Stock shall have those rights, preferences, privileges and restrictions governing the Common
Stock as set forth in the Organizational Documents. 
 (b) Consideration. The amount per share of Common Stock each
Purchaser will pay to the Company as consideration for the Purchased Common Stock shall be $1.39 (the “Common Stock Price”). 

  
 6 

 Section 2.2 Closing. The execution and delivery of the Transaction Documents
(other than this Agreement), the delivery of certificates representing the Purchased Common Stock, the payment of the Common Stock Price for each share of Purchased Common Stock, and the execution and delivery of all other instruments, agreements
and other documents required by this Agreement (the “Closing”) shall take place on a date (the “Closing Date”) concurrent with the TSO Closing Date, but on or prior to September 30, 2013, provided that the
Company shall have given each Purchaser three (3) Business Days (or such shorter period as shall be agreeable to the Parties) prior notice of such designated Closing Date, at the offices of Porter Hedges LLP, 1000 Main Street, 36th Floor, Houston, Texas 77002. 
 Section 2.3 Nature of Purchasers’
Obligations and Rights. The respective obligations of each Purchaser under the Transaction Documents are several and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance of
the obligations of any other Purchaser under the Transaction Documents. The failure or waiver of performance under this Agreement by any Purchaser, or on its behalf, does not excuse performance by any other Purchaser. Nothing contained herein or in
any other Transaction Document, and no action taken by any Purchaser pursuant thereto, shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the
Purchasers are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by any Transaction Document. Except as otherwise provided in the Transaction Documents, each Purchaser shall be entitled to
independently protect and enforce its rights, including the rights arising out of the Transaction Documents, and it shall not be necessary for any other Purchaser to be joined as an additional party in any proceeding for such purpose. The decision
of each Purchaser to purchase Purchased Common Stock pursuant to the Transaction Documents has been made by such Purchaser independently of any other Purchaser. Each Purchaser acknowledges that no other Purchaser has acted as agent for such
Purchaser in connection with making its investment hereunder and that no Purchaser will be acting as agent of such Purchaser in connection with monitoring its investment in the Purchased Common Stock or enforcing its rights under the Transaction
Documents. Each Purchaser has been represented by its own separate legal counsel in its review and negotiation of the Transaction Documents. For reasons of administrative convenience only, each Purchaser and its respective counsel have chosen to
communicate with the Company through Neal Gerber & Eisenberg LLP. Neal Gerber & Eisenberg LLP does not represent all of the Purchasers and only represents ZCOF Par Petroleum Holdings, L.L.C. The Company acknowledges that each of
the Purchasers has been provided with the same Transaction Documents for the purpose of closing a transaction with multiple Purchasers and not because it was required or requested to do so by any Purchaser. 

ARTICLE III 

REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

The Company represents and warrants to the Purchasers, on and as of the date of this Agreement and on and as of the Closing Date, as follows,
it being understood that each Purchaser is relying on each of the following representations and warranties: 
 Section 3.1
Corporate Existence. The Company is a corporation duly organized, validly existing and in good standing under the Laws of the State of Delaware, and each of the Company’s Subsidiaries is an entity duly formed, validly existing and in
good standing under the Laws of the jurisdiction under which it was formed. The Company and each of its Subsidiaries has all requisite power and authority to conduct its business as currently conducted and to own and lease its Property and other
assets as now owned or leased, and has all material governmental licenses, authorizations, consents and approvals necessary to own its Property and to conduct its business as its business is currently conducted as described in the Company SEC
Documents, except where the failure to obtain such licenses, authorizations, consents and approvals could not reasonably be expected to have a Company Material Adverse Effect. The Company and each of its Subsidiaries is qualified to do business as a
foreign entity and is in good standing in each jurisdiction in which the nature of the business conducted by the Company or such Subsidiary makes such qualification necessary, except where the failure so to qualify could not reasonably be expected
to have a Company Material Adverse Effect. 

  
 7 

 Section 3.2 Capitalization and Valid Issuance of Purchased Common Stock. 

(a) As of the date of this Agreement, the authorized capital stock of the Company consists of 300,000,000 shares of Common
Stock and 3,000,000 shares of preferred stock, and the issued and outstanding shares of Common Stock consists of 152,984,505 shares. As of the date of this Agreement, no shares of preferred stock are issued and outstanding. All of the outstanding
shares of Common Stock have been duly authorized and validly issued in accordance with applicable Law and the Organizational Documents and are fully paid and non-assessable. 

(b) As of the date of this Agreement, there are 12,732,754 shares of Common Stock issuable pursuant to the 2012 Long Term
Incentive Plan, as in effect on the date hereof, and as of June 30, 2013, 9,718,300 shares of Common Stock were issuable and reserved for issuance pursuant to securities exercisable for, or convertible into or exchangeable for any shares of
Common Stock of the Company. As of June 30, 2013, approximately $50.2 million in general unsecured claims of creditors remained outstanding in connection with the Company’s emergence from Chapter 11 bankruptcy proceedings on
August 31, 2012 which may be paid in shares of Common Stock pursuant to the Company’s plan of reorganization. Other than the 2012 Long Term Incentive Plan, the Company has no equity compensation plans that contemplate the issuance of
Common Stock (or securities convertible into or exchangeable for Common Stock). The Company has no outstanding indebtedness having the right to vote (or convertible into or exchangeable for securities having the right to vote) on any matters on
which the Common Stockholders may vote. Except as contemplated by (v) the 2012 Long Term Incentive Plan and the awards issued pursuant thereto, (w) the Organizational Documents, (x) the Stockholders Agreement effective as of
August 31, 2012 and filed with the Commission on September 7, 2012 as Exhibit 4.2 to the Company’s Current Report on Form 8-K, (y) the Warrant Agreement and the warrants issued pursuant thereto, and (z) the shares of Common
Stock to be issued to settle bankruptcy claims as set forth in the Company SEC Documents or the Transaction Documents, there are no outstanding or authorized (i) options, warrants, preemptive rights, subscriptions, calls or other rights,
convertible securities, agreements, claims or commitments of any character obligating the Company or any of its Subsidiaries to issue, transfer or sell any equity interests in the Company or any of its Subsidiaries or securities convertible into or
exchangeable for such equity interests, (ii) obligations of the Company or any of its Subsidiaries to repurchase, redeem or otherwise acquire any equity interests in the Company or any of its Subsidiaries or any such securities or agreements
listed in clause (i) of this sentence or (iii) voting trusts or similar agreements to which the Company or any of its Subsidiaries is a party with respect to the voting of the equity interests of the Company or any of its Subsidiaries.

  
 8 

 (c) (i) All of the issued and outstanding equity interests of each of the
Company’s Subsidiaries are owned, directly or indirectly, by the Company free and clear of any Liens (except for such restrictions as may exist under applicable Law and except for such Liens as may be imposed under the Company’s or the
Company’s Subsidiaries’ credit facilities filed as exhibits to the Company SEC Documents), and all such ownership interests have been duly authorized and validly issued in accordance with applicable Law and the Organizational Documents and
are fully paid (to the extent required by the Organizational Documents of the Company’s Subsidiaries, as applicable) and non-assessable (except as non-assessability may be affected by the Organizational Documents of the Company’s
Subsidiaries), and (ii) except as disclosed in the Company SEC Documents, neither the Company nor any of its Subsidiaries owns any shares of capital stock or other securities of, or interest in, any other Person, or is obligated to make any
capital contribution to or other investment in any other Person. 
 (d) Other than the filing of the Charter Amendment, the
offer and sale of the Purchased Common Stock has been duly authorized by the Company pursuant to the Organizational Documents and when issued and delivered to the Purchasers against payment therefor in accordance with the terms of this Agreement,
will be validly issued in accordance with applicable Law and the Organizational Documents, fully paid and non-assessable and will be free of any and all Liens and restrictions on transfer, other than restrictions on transfer under the Registration
Rights Agreement and applicable state and federal securities Laws and other than such Liens as are created by the Purchasers. 

(e) The Purchased Common Stock shall have those rights, preferences, privileges and restrictions governing the Common Stock as
set forth in the Organizational Documents. 
 Section 3.3 Company SEC Documents. The Company has timely filed (giving
effect to permissible extensions in accordance with Rule 12b-25 under the Exchange Act) or furnished with the Commission all reports, schedules, forms, statements and other documents (including exhibits and other information incorporated therein)
that have been filed or were required to be filed or furnished by it under the Exchange Act or the Securities Act since November 26, 2012 (all such documents collectively, the “Company SEC Documents”). The Company SEC
Documents, including any audited or unaudited financial statements and any notes thereto or schedules included therein (the “Company Financial Statements”), at the time filed or furnished (except to the extent corrected by a
subsequently filed Company SEC Document filed prior to the date of this Agreement) (i) did not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the
statements therein, in light of the circumstances under which they were made, not misleading, (ii) complied in all material respects with the applicable requirements of the Exchange Act and the Securities Act, as the case may be,
(iii) complied as to form in all material respects with applicable accounting requirements and with the published rules and regulations of the Commission with respect thereto, (iv) were prepared in conformity with GAAP applied on a
consistent basis during the periods involved (except as may be indicated in the notes thereto or, in the case of unaudited statements, as permitted by Form 10-Q of the Commission) and (v) fairly present (subject in the case of unaudited
statements to normal, recurring and year-end audit adjustments) in all material respects the consolidated financial position of the business of the Company as of the dates thereof and the consolidated results of its operations and cash flows for the
periods then ended. EKS&H LLLP is an independent registered public accounting firm with respect to the Company and has not resigned or been dismissed as independent registered public accountants of the Company as a result of or in connection
with any disagreement with the Company on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures. 

  
 9 

 Section 3.4 No Material Adverse Change. Except as set forth in or contemplated
by the Company SEC Documents filed or furnished with the Commission after August 31, 2012 and prior to the date hereof, since August 31, 2012, the Company and its Subsidiaries have conducted their business in the ordinary course,
consistent with past practice, and there has not been (i) any change in the consolidated assets, liabilities, financial condition or operating results of the Company, including any acquisition or disposition of any material asset by the Company
or any of its Subsidiaries (or any contract or arrangement therefor) or any incurrence of material indebtedness (other than the incurrence of such indebtedness as is contemplated in connection with the TSO Acquisition), from that reflected in the
financial statements included in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, except for changes which have not had and could not reasonably be expected to have a Company Material Adverse Effect,
individually or in the aggregate, (ii) any declaration or payment of any dividend, or any authorization or payment of any distribution, on any of the capital stock of the Company, or any redemption or repurchase of any securities of the
Company, (iii) any material change in the Company’s accounting principles, practices or methods or (iv) any other event, occurrence, development or condition of any character that has had or could reasonably be expected to have a
Company Material Adverse Effect. Except for the transactions contemplated by the Transaction Documents, including, without limitation, the TSO Acquisition, no event, liability, fact, circumstance, occurrence or development has occurred or exists or
is reasonably expected to occur or exist with respect to the Company or its Subsidiaries or their respective businesses, Properties, operations, assets or financial condition, that would be required to be disclosed by the Company under applicable
securities Laws at the time this representation is made or deemed made that has not been publicly disclosed at least one Business Day prior to the date that this representation is made or deemed made. 

Section 3.5 Litigation. Except as set forth in the Company SEC Documents, there is no Action pending or, to the knowledge
of the Company, contemplated or threatened, against the Company or any of its Subsidiaries or any of their respective officers, directors or Properties, which (individually or in the aggregate) reasonably could be expected to have a Company Material
Adverse Effect, or which challenges the validity of the Transaction Documents, or the right of the Company to enter into any of them, or to consummate the transactions contemplated hereby or thereby. The Company is not a party or subject to, and
none of its assets is bound by, the provisions of any order, writ, injunction, judgment or decree of any Governmental Authority which could reasonably be expected to have a Company Material Adverse Effect. Except as disclosed in the Company SEC
Documents, neither the Company nor any of its Subsidiaries, nor any director or officer thereof, is or since August 31, 2012 has been the subject of any action involving a claim of violation of or liability under federal or state securities
Laws or a claim of breach of fiduciary duty. There has not been, and to the Company’s Knowledge, there is not pending or contemplated, any investigation by the Commission involving the Company or any current director or officer of the Company.
The Commission has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company or any of its Subsidiaries under the Securities Act or the Exchange Act. 

  
 10 

 Section 3.6 No Breach. Neither the Company nor any of its Subsidiaries is in
violation or default of any provision of its respective Organizational Documents, each as in effect immediately prior to the Closing. Neither the Company nor any of its Subsidiaries are in violation or default of any provision of any Law of any
Governmental Authority having jurisdiction over the Company, any of its Subsidiaries or any of their respective assets or Properties which could reasonably be expected to have a Company Material Adverse Effect. The execution, delivery and
performance by the Company of each Transaction Document to which it is a party and all other agreements and instruments in connection with the transactions contemplated by the Transaction Documents, and compliance by the Company with the terms and
provisions hereof and thereof, do not and will not (i) violate any provision of any Law, governmental permit, determination or award applicable to the Company or any of its Subsidiaries or any of their respective Properties, (ii) conflict
with or result in a violation of any provision of the Organizational Documents of the Company or any of the Company’s Subsidiaries, (iii) require any consent, approval or notice under or result in a violation or breach of or constitute
(with or without due notice or lapse of time or both) a default (or give rise to any right of termination, cancellation or acceleration) under (A) any note, bond, mortgage, license, or loan or credit agreement to which the Company or any of its
Subsidiaries is a party or by which the Company or any of its Subsidiaries or any of their respective Properties may be bound or (B) any other agreement, instrument or obligation, or (iv) result in or require the creation or imposition of
any Lien upon or with respect to any of the Properties now owned or hereafter acquired by the Company or any of its Subsidiaries, except in the cases of clauses (i) and (iii) where such violation, default, breach, termination,
cancellation, failure to receive consent or approval, or acceleration with respect to the foregoing provisions of this Section 3.6 could not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect.

 Section 3.7 Authority and Enforceability. The Company has all necessary corporate power and authority to execute,
deliver and perform its obligations under each Transaction Document to which it is a party and to consummate the transactions contemplated thereby. The execution, delivery and performance by the Company of each of the Transaction Documents to which
it is a party, and the consummation of the transactions contemplated thereby, have been duly authorized by all necessary action on its part and, when duly executed and delivered by the parties thereto in accordance with their terms, each of the
Transaction Documents will constitute the legal, valid and binding obligations of the Company, enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, fraudulent transfer and similar Laws
affecting creditors’ rights generally or by general principles of equity. Except as contemplated by this Agreement, no approval by the Common Stockholders is required as a result of the Company’s issuance and sale of the Purchased Common
Stock. 

  
 11 

 Section 3.8 Approvals. Except as contemplated by this Agreement or as required
by the Commission in connection with the Company’s obligations under the Registration Rights Agreement, no authorization, consent, approval, waiver, license, qualification or written exemption from, nor any filing, declaration, qualification or
registration with, any Governmental Authority or any other Person is required in connection with the execution, delivery or performance by the Company of each of the Transaction Documents to which it is a party, except (i) for certain
post-closing filings as may be required pursuant to federal securities Laws and under the “blue sky” Laws of any jurisdiction or (ii) where the failure to receive such authorization, consent, approval, waiver, license, qualification
or written exemption or to make such filing, declaration, qualification or registration could not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect. 

Section 3.9 Investment Company Status. The Company is not, and immediately after receipt of payment for the Purchased
Common Stock will not be, an “investment company,” an “affiliated person” of, “promoter” for or “principal underwriter” for, or an entity “controlled” by an “investment company,” within the
meaning of the Investment Company Act of 1940, as amended, or the rules and regulations promulgated thereunder. 
 Section 3.10
Offering. To Company’s Knowledge, neither the Company nor any Person acting on its behalf has conducted any general solicitation or general advertising (as those terms are used in Regulation D) in connection with the offer or sale of any
of the Purchased Common Stock. Assuming the accuracy of the representations and warranties of the Purchasers contained in this Agreement, the sale and issuance of the Purchased Common Stock pursuant to this Agreement are exempt from the registration
requirements of the Securities Act. Neither the Company nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any offers or sales of any Company security or solicited any offers to buy any security
under circumstances that would (i) eliminate the availability of the exemption from registration under Regulation D under the Securities Act in connection with the offer and sale by the Company of the Purchased Common Stock as contemplated
hereby or (ii) cause the offering of the Purchased Common Stock pursuant to this Agreement to be integrated with prior offerings by the Company for purposes of any applicable Law, regulation or stockholder approval provisions. 

Section 3.11 Certain Fees. No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee
or commission with respect to the sale of any of the Purchased Common Stock or the consummation of the transactions contemplated by the Transaction Documents. The Company agrees that it will indemnify and hold harmless each of the Purchasers from
and against any and all claims, demands or liabilities for any fees, commissions or payments of the type contemplated by this Section 3.11 incurred by the Company or alleged to have been incurred by the Company in connection with the sale of
the Purchased Common Stock or the consummation of the transactions contemplated by the Transaction Documents. 

  
 12 

 Section 3.12 No Side Agreements. Except for the confidentiality agreements
entered into by and between each of the Purchasers and the Company and as set forth in the Company SEC Documents, there are no other agreements by, among or between the Purchasers and any of their respective Affiliates, on the one hand, and the
Company or any of its Affiliates, on the other hand, with respect to the transactions contemplated hereby (other than the Transaction Documents), and there are no promises or inducements for future transactions by, among or between the Purchasers
and any of their respective Affiliates, on the one hand, and the Company and any of its Affiliates, on the other hand. 

Section 3.13 Internal Accounting Controls. The Company and its Subsidiaries are in material compliance with the provisions
of the Sarbanes-Oxley Act of 2002 and any and all applicable rules and regulations promulgated by the Commission currently applicable to the Company and its Subsidiaries. Except as disclosed in the Company SEC Documents, the Company and its
Subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions are
recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s general or specific authorization
and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. Except as set forth in or contemplated by the Company SEC Documents,
the Company and its Subsidiaries have established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Company and its Subsidiaries and designed such disclosure controls and procedures to ensure that
information required to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. The
Company’s certifying officers have evaluated the effectiveness of the Company’s controls and procedures as of the end of the period covered by the most recently filed periodic report under the Exchange Act (such date, the
“Evaluation Date”). The Company presented in its most recently filed periodic report under the Exchange Act the conclusions of the certifying officers about the effectiveness of the disclosure controls and procedures based on their
evaluations as of the Evaluation Date. Since the Evaluation Date, there have been no significant changes in the Company’s and its Subsidiaries’ internal control over financial reporting (as such term is defined in the Exchange Act) or, to
the Company’s Knowledge, in other factors that would be reasonably likely to materially affect the Company’s and its Subsidiaries’ internal control over financial reporting. The Company maintains a standard system of accounting
established and administered in conformity with GAAP and the applicable requirements of the Exchange Act. 
 Section 3.14
Registration Rights. Except for the Registration Rights Agreement effective as of August 31, 2012 and filed with the Commission on September 7, 2012 as Exhibit 4.3 to the Company’s Current Report on Form 8-K (“2012
Registration Rights Agreement”), neither the execution of this Agreement nor the issuance of the Purchased Common Stock as contemplated by this Agreement gives rise to any rights for or relating to the registration of any securities of the
Company, other than pursuant to the Registration Rights Agreement. 

  
 13 

 Section 3.15 Insurance. The Company and its Subsidiaries are insured by
insurers of recognized financial responsibility against such losses and risks and in such amounts as the Company believes to be prudent for its businesses. Neither the Company nor any of its Subsidiaries has received any notice of cancellation of
any such insurance. The Company does not have any reason to believe that it or any of its Subsidiaries will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as
may be necessary to continue its business as currently conducted without a significant increase in cost. 
 Section 3.16
Transactions with Affiliates. Except as disclosed in the Company SEC Documents, none of the current officers or directors of the Company or any of its Subsidiaries and, to the Company’s Knowledge, none of the current employees of the
Company or any of its Subsidiaries, is presently a party to any transaction with the Company or any of its Subsidiaries (other than as holders of stock options and/or warrants, and for services as employees, officers and directors) of the type
required to be disclosed in any existing or future Company SEC Document pursuant to Item 404 of the Commission’s Regulation S-K. 

Section 3.17 Tax Matters. The Company and each of its Subsidiaries has accurately and timely prepared in all material
respects and filed all material tax returns required to have been filed by the Company or such Subsidiary with all appropriate governmental agencies and timely paid all material taxes shown thereon or otherwise owed by it, except for taxes which it
reasonably disputes in good faith and for which appropriate reserves have been established on the Company’s books and records. The charges, accruals and reserves on the books of the Company in respect of taxes for all fiscal periods are
adequate in all material respects, and there are no material unpaid assessments against the Company or any of its Subsidiaries nor, to the Company’s Knowledge, any basis for the assessment of any additional taxes, penalties or interest for any
fiscal period or audits by any federal, state or local taxing authority except for any assessment which has not had and could not reasonably be expected to have a Company Material Adverse Effect taken as a whole. Except as would be not be material,
all taxes and other assessments and levies that the Company or any of its Subsidiaries is required to withhold or to collect for payment have been duly withheld and collected and paid to the proper Governmental Authority or third party when due.
There are no tax liens or claims pending or, to the Company’s Knowledge, threatened against the Company or any of its Subsidiaries or any of their respective assets or Properties. Except as described in the Company SEC Documents, there are no
outstanding tax sharing agreements or other such arrangements between the Company and any of its Subsidiaries or other corporation or entity. To the Company’s Knowledge, (i) no limitations under Section 382 or 383 of the Code or
Treasury Regulations Section 1.1502-15 or- 21 apply to the use of the Company’s and any of its Subsidiaries’ net operating loss carryforwards, unrealized built-in losses, tax credits, capital loss carryforwards or other tax attributes
for U.S. federal income tax purposes at the time of the Closing and (ii) the transactions contemplated by this Agreement and the other Transaction Documents (as if such transactions had occurred immediately after the Closing Date) will not
cause an “ownership change” (as defined by Section 382(g) of the Code). 
 Section 3.18 Acknowledgment.
The Company acknowledges that no Purchaser is acting or has acted as an advisor, agent or fiduciary of the Company (or in any similar capacity) with respect to the Transaction Documents and any advice given by any Purchaser or any of its respective
Representatives in connection with the Transaction Documents is merely incidental to the Purchasers’ purchase of Purchased Common Stock. The Company further acknowledges to each Purchaser that the Company’s decision to enter into this
Agreement has been based solely on the independent evaluation of the transactions contemplated by this Agreement by the Company and its Representatives. 

  
 14 

 Section 3.19 Questionable Payments. Since August 31, 2012, neither the
Company nor any of its Subsidiaries nor, to the Company’s Knowledge, any of their respective current directors, officers, employees, agents or other Persons acting on behalf of the Company or any of its Subsidiaries, has on behalf of the
Company or any of its Subsidiaries or in connection with their respective businesses: (a) used any corporate funds for unlawful contributions, gifts, entertainment or other unlawful expenses relating to foreign or domestic political activity;
(b) made any direct or indirect unlawful payments to any foreign or domestic governmental officials or employees or to any foreign or domestic political parties or campaigns from corporate funds; (c) failed to disclose fully any
contribution made by the Company or any of its Subsidiaries (or made by any Person acting on its behalf of which the Company is aware) which is in violation of Law or (d) violated in any material respect any provision of Foreign Corrupt
Practices Act of 1977, as amended. 
 Section 3.20 No Manipulation of Stock. Neither the Company nor any of its
Subsidiaries, nor to the Company’s Knowledge, any of their respective officers, directors, or employees has taken, in violation of applicable Law, any action designed to or that could reasonably be expected to, directly or indirectly, cause or
result in stabilization or manipulation of the price of the Common Stock to facilitate the sale or resale of the Purchased Common Stock. 

Section 3.21 Money Laundering Laws. Since August 31, 2012, the operations of the Company and its Subsidiaries are and
have been conducted in compliance with applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, applicable money laundering statutes and applicable rules and
regulations thereunder (collectively, the “Money Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company any of its Subsidiaries
with respect to the Money Laundering Laws is pending or, to the Company’s knowledge, threatened. 
 Section 3.22
OFAC. Since August 31, 2012, neither the Company nor, to the Company’s Knowledge, any director, officer, agent or employee of the Company is currently subject to any United States sanctions administered by the Office of Foreign
Assets Control of the United States Treasury Department (“OFAC”). 
 Section 3.23 Purchaser Disclosures.
The Company understands and confirms that the Purchasers will rely on the foregoing representations and warranties in effecting transactions in the Purchased Common Stock of the Company. All disclosure provided to the Purchasers in writing regarding
the Company, its business and the transactions contemplated hereby furnished by or on behalf of the Company are true and correct and do not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make
the statements made therein, in light of the circumstances under which they were made, not misleading. 

  
 15 

 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES OF EACH PURCHASER 

Each Purchaser, severally and not jointly, represents and warrants to the Company with respect to itself, on and as of the date of this
Agreement and on and as of the Closing Date, as follows: 
 Section 4.1 Valid Existence. If an entity, such Purchaser is
duly organized, validly existing and in good standing under the Laws of its respective jurisdiction of organization and has all requisite power and authority to own its Properties and carry on its business as currently conducted. 

Section 4.2 Authority and Enforceability. Such Purchaser has all necessary legal power and authority to execute, deliver
and perform its obligations under each of the Transaction Documents to which it is a party and to consummate the transactions contemplated thereby. The execution, delivery and performance by such Purchaser of each of the Transaction Documents to
which it is a party, and the consummation of the transactions contemplated thereby, have been duly authorized by all legal action on its part and, when duly executed and delivered by the parties thereto in accordance with their terms, each of the
Transaction Documents to which such Purchaser is a party will constitute the legal, valid and binding obligations of such Purchaser, enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency,
fraudulent transfer and similar Laws affecting creditors’ rights generally or by general principles of equity. 

Section 4.3 No Breach. The execution, delivery and performance by such Purchaser of each of the Transaction Documents to
which it is a party and the consummation of the transactions contemplated thereby will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, any material agreement to which
such Purchaser is a party or by which such Purchaser is bound or to which any of the Property of such Purchaser are subject, (ii) conflict with or result in any violation of the provisions of the organizational documents of such Purchaser, or
(iii) violate any statute, order, rule or regulation of any Governmental Authority having jurisdiction over such Purchaser or the Property or assets of such Purchaser, except in the case of clauses (i) and (iii), for such conflicts,
breaches, violations or defaults as could not reasonably be expected to have a Purchaser Material Adverse Effect. 
 Section 4.4
Certain Fees. No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or commission payable by such Purchaser with respect to the purchase of any of the Purchased Common Stock or the consummation of
the transactions contemplated by the Transaction Documents. Such Purchaser agrees that it will indemnify and hold harmless the Company from and against any and all claims, demands or liabilities for any fees, commissions or payments of the type
contemplated by this Section 4.4 incurred by such Purchaser or alleged to have been incurred by such Purchaser in connection with the purchase of the Purchased Common Stock or the consummation of the transactions contemplated by the Transaction
Documents. 

  
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 Section 4.5 Unregistered Securities. 

(a) Accredited Investor Status; Sophisticated Purchasers. Such Purchaser is an “accredited investor” within
the meaning of Rule 501(a)(1), (2), (3), (5), (6), (7) and/or (8) under the Securities Act and is able to bear the risk of its investment in the Purchased Common Stock. Such Purchaser has such knowledge, sophistication and experience in
business and financial matters so as to be capable of evaluating the merits and risks of the Purchased Common Stock, and has so evaluated the merits and risks of the Purchased Common Stock. 

(b) Information. Such Purchaser or its Representatives have been given access to and an opportunity to examine such
documents, materials and information concerning the Company and the TSO Acquisition as such Purchaser deems to be necessary or advisable in order to reach an informed decision as to an investment in the Company, to the extent that the Company
possesses such information, has carefully reviewed and understands these materials and has had answered to such Purchaser’s full satisfaction any and all questions regarding such information. Such Purchaser or its Representatives made such
independent investigation of the Company, its management, and related matters as such Purchaser deems to be necessary or advisable in connection with the Purchased Common Stock, and is able to bear the economic and financial risk of the Purchased
Common Stock. Neither such inquiries nor any other due diligence investigations conducted at any time by such Purchaser or its Representatives shall modify, amend or affect such Purchaser’s right (i) to rely on the Company’s
representations and warranties contained in Article III above or (ii) to indemnification or any other remedy based on, or with respect to the accuracy or inaccuracy of, or compliance with, the representations, warranties, covenants and
agreements in any Transaction Document. Such Purchaser understands and acknowledges that its purchase of the Purchased Common Stock involves a high degree of risk and uncertainty. Such Purchaser has sought such accounting, legal and tax advice as it
has considered necessary to make an informed investment decision with respect to its purchase of the Purchased Common Stock. 

(c) Legends. Such Purchaser understands and acknowledges that, until such time as the Purchased Common Stock has been
registered pursuant to the provisions of the Securities Act, or the Purchased Common Stock is eligible for resale pursuant to Rule 144 promulgated under the Securities Act without any restriction as to the number of securities as of a particular
date that can then be immediately sold, the Purchased Common Stock will bear the following restrictive legend: 
 “THESE SECURITIES HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THESE SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR
PURSUANT TO AN EXEMPTION FROM REGISTRATION THEREUNDER AND, IN THE CASE OF A TRANSACTION EXEMPT FROM REGISTRATION, UNLESS SOLD PURSUANT TO RULE 144 UNDER SUCH ACT OR THE ISSUER HAS RECEIVED DOCUMENTATION REASONABLY SATISFACTORY TO IT THAT SUCH
TRANSACTION DOES NOT REQUIRE REGISTRATION UNDER SUCH ACT.” 

  
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 (d) Purchase Representation. Such Purchaser is purchasing the Purchased
Common Stock for its own account and not with a view to distribution in violation of any securities Laws. Nothing contained herein shall be deemed a representation or warranty by such Purchaser to hold the Purchased Common Stock for any period of
time. Such Purchaser understands and acknowledges that the shares of Purchased Common Stock it is purchasing are characterized as “restricted securities” under the federal securities Laws inasmuch as they are being acquired from the
Company in a transaction not involving a public offering. Such Purchaser has been advised and understands and acknowledges that the Purchased Common Stock has not been registered under the Securities Act or under the “blue sky” Laws of any
jurisdiction and may be resold only if registered pursuant to the provisions of the Securities Act (or if eligible, pursuant to the provisions of Rule 144 promulgated under the Securities Act or pursuant to another available exemption from the
registration requirements of the Securities Act). 
 (e) No General Solicitation. Such Purchaser acknowledges and
agrees that neither the Company nor any other Person offered to sell the Purchased Common Stock to it by means of any form of general solicitation or advertising, including but not limited to: any advertisement, article, notice or other
communication published in any newspaper, magazine or similar media or broadcast over television or radio or any seminar or meeting whose attendees were invited by any general solicitation or general advertising. Such Purchaser further acknowledges
and agrees that it was solicited or became aware of the investment in the Purchased Common Stock either through (i) a substantive, pre-existing relationship with the Company, (ii) direct contact with the Company or its agents outside of
any public offering effort, and/or (iii) through contacts by the Company not identified through any public offering. 

(f) Reliance Upon Purchaser’s Representations and Warranties. Such Purchaser understands and acknowledges that the
Purchased Common Stock is being offered and sold in reliance on a transactional exemption from the registration requirements of federal and state securities Laws, and that the Company is relying upon the truth and accuracy of the representations,
warranties, agreements, acknowledgments and understandings of such Purchaser set forth in this Agreement (i) in concluding that the offer and sale of the Purchased Common Stock is a “private offering” and, as such, is exempt from the
registration requirements of the Securities Act, and (ii) to determine the applicability of such exemptions in evaluating the suitability of such Purchaser to purchase the Purchased Common Stock. 

Section 4.6 No Side Agreements. Except for the confidentiality agreements entered into by and between such Purchaser and
the Company and as set forth in the Company SEC Documents, there are no other agreements by, among or between such Purchaser and any of its Affiliates, on the one hand, and the Company or any of its Affiliates, on the other hand, with respect to the
transactions contemplated hereby (other than the Transaction Documents), and there are no promises or inducements for future transactions by, among or between such Purchaser and any of its Affiliates, on the one hand, and the Company and any of its
Affiliates, on the other hand. 

  
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 Section 4.7 Short Selling. Such Purchaser represents and warrants that it has
not entered into any Short Sales of the Common Stock owned by it between the time it first began discussions with the Company about the transactions contemplated by this Agreement and the date hereof. 

ARTICLE V 
 COVENANTS

 Section 5.1 Taking of Necessary Action. Each of the Parties hereto shall use its commercially reasonable
efforts promptly to take or cause to be taken all action and promptly to do or cause to be done all things necessary, proper or advisable under applicable Law and regulations to consummate and make effective the transactions contemplated by this
Agreement. Without limiting the foregoing, the Company and each Purchaser will, and the Company shall cause each of its Subsidiaries to, use its commercially reasonable efforts to make all filings and obtain all consents of Governmental Authorities
that may be necessary or, in the reasonable opinion of the Purchasers or the Company, as the case may be, advisable for the consummation of the transactions contemplated by the Transaction Documents. 

Section 5.2 Use of Proceeds. The Company shall use the collective proceeds from the sale of the Purchased Common Stock
(i) to partially finance the TSO Acquisition, (ii) to repay indebtedness and other obligations of the Company and its Affiliates outstanding under the Company’s Delayed Draw Term Loan Credit Agreement dated as of August 31, 2012,
as amended, amended and restated, modified, supplemented, extended, renewed, restated or replaced from time to time, and (c) for working capital and general corporate purposes of the Company and its Subsidiaries. The Company will not directly
or indirectly use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any of its Subsidiaries, joint venture partner or other Person or entity, for the purpose of financing the activities of any Person
currently subject to any United States sanctions administered by OFAC. 
 Section 5.3 Tax Information. The Company shall
cooperate with the Purchasers and provide the Purchasers with any reasonably requested tax information related to their ownership of the Purchased Common Stock. 

Section 5.4 Short Selling Acknowledgement and Agreement. Each Purchaser understands and acknowledges, severally and not
jointly with any other Purchaser, that the Commission currently takes the position that coverage of Short Sales of securities “against the box” prior to the effective date of a registration statement is a violation of Section 5 of the
Securities Act. Each Purchaser agrees, severally and not jointly, that it will not engage in any Short Sales that result in the disposition of the Common Stock acquired hereunder by the Purchaser until the earlier of (i) the termination of the
Agreement and (ii) such time as the Registration Statement (as defined in the Registration Rights Agreement) is declared or deemed effective by the Commission. 

Section 5.5 Securities Laws Disclosure; Publicity. 

(a) The Company shall, by 8:30 a.m. (New York City time) on the Business Day immediately following the date hereof, file a
Current Report on Form 8-K and press release disclosing the material terms of the transactions contemplated hereby, including the Transaction Documents as exhibits thereto (such date, the “Disclosure Deadline”). 

  
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 (b) The Company shall timely file all required reports under Section 13 or
15(d) of the Exchange Act, as applicable. The Company understands and confirms that the Purchasers will rely on the foregoing representation and covenant and the representation and covenant in Section 5.5(a) above in effecting transactions in
securities of the Company. 
 (c) The Company and the Purchaser Designee, on behalf of the Purchasers solely for purposes of
this Section 5.5(c), shall consult with each other in issuing any press releases with respect to the transactions contemplated hereby, and neither the Company nor any Purchaser shall issue any such press release nor otherwise make any such
public statement without the prior consent of the Company, with respect to any such press release of any Purchaser, or without the prior consent of the Purchaser Designee, on behalf of the Purchasers solely for purposes of this Section 5.5(c),
with respect to any such press release of the Company, which consent shall not unreasonably be withheld or delayed, except if such disclosure is required by Law, in which case the disclosing party shall promptly provide the other party with prior
notice of such public statement or communication. 
 Section 5.6 No Conflicting Agreements. Neither the Company nor any
Purchaser will take any action, enter into any agreement or make any commitment that would conflict or interfere in any material respect with their obligations under the Transaction Documents. 

Section 5.7 Compliance with Laws. The Company and each Purchaser will comply in all material respects with all applicable
Laws of all Governmental Authorities. 
 Section 5.8 Listing of Purchased Common Stock and Related Matters. Promptly
following the execution of this Agreement, the Company shall take all necessary action to cause the Purchased Common Stock to be listed on the OTC Bulletin Board no later than the Closing Date. Further, if the Company applies to have its Common
Stock traded on any other principal stock exchange or market, it shall include in such application the Purchased Common Stock and will take such other action as is necessary to cause such Purchased Common Stock to be so listed. The Company will use
commercially reasonable efforts to continue the listing and trading of its Common Stock on the OTC Bulletin Board and, in accordance therewith, will use commercially reasonable efforts to comply in all respects with the Company’s reporting,
filing and other obligations under the bylaws or rules of such market or exchange, as applicable. 
 Section 5.9 Termination
of Covenants. The provisions of Sections 5.5(a), 5.5(c), 5.6, and 5.7 shall terminate and be of no further force and effect on the date on which the Company’s obligations under the Registration Rights Agreement to register or maintain the
effectiveness of any registration statement covering the Registrable Shares (as such term is defined in the Registration Rights Agreement) shall terminate. 

  
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 Section 5.10 Subsequent Equity Sales. 

(a) From the Closing Date until ninety (90) days after the Closing Date, without the consent of the Required Purchasers,
neither the Company nor any of its Subsidiaries shall issue shares of Common Stock or Common Stock Equivalents. Notwithstanding the foregoing, the provisions of this Section 5.10(a) shall not apply to (i) the issuance of Common Stock or
Common Stock Equivalents upon the conversion, exercise or exchange of any securities of the Company or a Subsidiary outstanding on the Closing Date, provided that the terms of such security are not amended (other than pursuant to the terms thereof)
after the Closing Date to decrease the exercise price or increase the Common Stock or Common Stock Equivalents receivable upon the exercise, conversion or exchange thereof or (ii) the issuance of any Common Stock or Common Stock Equivalents
pursuant to the 2012 Long Term Incentive Plan. 
 (b) The Company shall not, and shall use its commercially reasonable
efforts to ensure that no Affiliate of the Company shall, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any “security” (as defined in Section 2 of the Securities Act) that will be integrated with
the offer or sale of the Purchased Common Stock in a manner that would require the registration under the Securities Act of the sale of the Purchased Common Stock to the Purchasers, or that will be integrated with the offer or sale of the Purchased
Common Stock for purposes of the rules and regulations of any Trading Market such that it would require stockholder approval prior to the closing of such other transaction unless stockholder approval is obtained before the closing of such subsequent
transaction. 
 Section 5.11 Equal Treatment of Purchasers. No consideration shall be offered or paid to any Person to
amend or consent to a waiver or modification of any provision of any of the Transaction Documents unless the same consideration is also offered to all of the parties to the Transaction Documents. For clarification purposes, this provision
constitutes a separate right granted to each Purchaser by the Company and negotiated separately by each Purchaser, and is intended for the Company to treat the Purchasers as a class and shall not in any way be construed as the Purchasers acting in
concert or as a group with respect to the purchase, disposition or voting of Purchased Common Stock or otherwise. 

Section 5.12 Form D; Blue Sky. After the Closing, the Company agrees to timely file a Form D with respect to the Purchased
Common Stock as required under Regulation D and to provide a copy thereof to the Purchasers (provided that the posting of the Form D on the Commission’s EDGAR system shall be deemed delivery of the Form D for purposes of this Agreement). The
Company, on or before the Closing, shall take such action as the Company shall reasonably determine is necessary, if any, in order to qualify the Purchased Common Stock for sale to the Purchasers under applicable securities or “blue sky”
Laws of the states of the United States (or to obtain an exemption from such qualification) and shall provide evidence of such actions to the Purchasers. 

  
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 Section 5.13 Pledges. The Company acknowledges and agrees that any Purchaser
may from time to time pledge, and/or grant a security interest in, some or all of the Purchased Common Stock in connection with applicable securities Laws, pursuant to a bona fide margin agreement in compliance with a bona fide margin loan. Such a
pledge would not be subject to approval or consent of the Company and no legal opinion of legal counsel to the pledgee, secured party or pledgor shall be required in connection with the pledge, but such legal opinion shall be required in connection
with a subsequent transfer or foreclosure following default by the Purchaser transferee of the pledge. No notice shall be required of such pledge, but any Purchaser’s transferee shall promptly notify the Company of any such subsequent transfer
or foreclosure. Each Purchaser acknowledges that the Company shall not be responsible for any pledges relating to, or the grant of any security interest in, any of the Purchased Common Stock or for any agreement, understanding or arrangement between
such Purchaser and its pledgee or secured party. At the Purchaser’s expense, the Company will execute and deliver such reasonable documentation as a pledgee or secured party of Purchased Common Stock may reasonably request in connection with a
pledge or transfer of the Purchased Common Stock, including the preparation and filing of any required prospectus supplement to any registration statement filed pursuant to the Registration Rights Agreement under Rule 424(b)(3) of the Securities Act
or other applicable provision of the Securities Act to appropriately amend the list of selling stockholders thereunder. 

Section 5.14 Pre-Closing Covenants. The Company covenants and agrees to take all actions necessary to effect the Charter
Amendment, the Anti-Dilution Rights Waiver and the 2012 Registration Rights Amendment prior to the Closing, including but not limited to obtaining stockholder approval of each action, as necessary. 

Section 5.15 Cooperation. In order to effectuate the intents and purposes of this Agreement, each Purchaser, severally and
not jointly, covenants and agrees that such Purchaser will vote all Common Stock of the Company owned by it prior to the date of this Agreement, if any, in favor of, or otherwise consent to, the Charter Amendment, the Anti-Dilution Rights Waiver and
the 2012 Registration Rights Amendment. Notwithstanding the foregoing, nothing contained herein and no action taken by any Purchaser pursuant hereto, shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or
any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction Documents. 

ARTICLE VI 
 CLOSING
CONDITIONS 
 Section 6.1 Conditions to the Closing. 

(a) Mutual Conditions. The respective obligation of each Party to consummate the purchase and issuance and sale of the
Purchased Common Stock shall be subject to the satisfaction on or prior to the Closing Date of each of the following conditions (any or all of which may be waived by a particular Party on behalf of itself in writing, in whole or in part, to the
extent permitted by applicable Law): 
 (i) no Law shall have been enacted or promulgated, and no action shall have been
taken, by any Governmental Authority of competent jurisdiction which temporarily, preliminarily or permanently restrains, precludes, enjoins or otherwise prohibits the consummation of the transactions contemplated by this Agreement or the
Transaction Documents or makes the transactions contemplated by this Agreement or the Transaction Documents illegal; 

  
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 (ii) there shall not be pending any Action by any Governmental Authority seeking
to restrain, preclude, enjoin or prohibit the transactions contemplated by this Agreement or the Transaction Documents; 

(iii) the Amended and Restated Certificate of Incorporation of the Company shall have been amended (the “Charter
Amendment”) to (i) increase the number of authorized shares of Common Stock to permit the transactions contemplated hereby, and (ii) delete or revise portions of Article 11 thereof to enable the Board of Directors of the Company
to approve certain transfers of Common Stock by holders of five percent or more of the outstanding amount of Common Stock (“5% Holders”), including without limitation, the pre-approval of certain transfers on a prospective basis;

 (iv) all actions as are necessary to amend or obtain waivers under the Warrant Agreement in order to waive the application
of the anti-dilution rights set forth in Section 4.5 of the Warrant Agreement with respect to the Purchased Common Stock (the “Anti-Dilution Amendment”) shall be completed; 

(v) all actions as are necessary to amend or obtain waivers under the 2012 Registration Rights Agreement in order to waive the
application of piggyback registration rights under Section 2.2 of the 2012 Registration Rights Agreement with respect to the registration statement covering the Purchased Common Stock contemplated by the Registration Rights Agreement (the
“2012 Registration Rights Amendment”) shall be completed; and 
 (vi) all closing conditions (other than
payment of the purchase price) required to consummate the TSO Acquisition have been satisfied or waived, and the parties to the TSO Acquisition Agreement are prepared to consummate the TSO Acquisition substantially on the terms set forth therein.

 (b) Each Purchaser’s Conditions. The respective obligation of each Purchaser to consummate the purchase of its
Purchased Common Stock shall be subject to the satisfaction on or prior to the Closing Date of each of the following conditions (any or all of which may be waived by a particular Purchaser on behalf of itself in writing, in whole or in part, to the
extent permitted by applicable Law): 
 (i) the Company shall have performed and complied with the covenants and agreements
contained in this Agreement in all material respects that are required to be performed and complied with by the Company on or prior to the Closing Date; 

(ii) the representations and warranties of the Company contained in this Agreement that are qualified by materiality or Company
Material Adverse Effect shall be true and correct when made and as of the Closing Date and all other representations and warranties shall be true and correct in all material respects when made and as of the Closing Date, in each case as though made
at and as of the Closing Date (except that representations made as of a specific date shall be required to be true and correct as of such date only); 

  
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 (iii) since the date of this Agreement, no Company Material Adverse Effect shall
have occurred and be continuing; from the date hereof to the Closing Date, trading in the Common Stock shall not have been suspended by the Commission or the Company’s principal Trading Market and, at any time prior to the Closing Date, trading
in securities generally as reported by Bloomberg L.P. shall not have been suspended or limited, or minimum prices shall not have been established on securities whose trades are reported by such service, or on any Trading Market, nor shall a banking
moratorium have been declared either by the United States or New York State authorities nor shall there have occurred any material outbreak or escalation of hostilities or other national or international calamity of such magnitude in its effect on,
or any material adverse change in, any financial market which, in each case, in the reasonable judgment of such Purchaser, makes it impracticable or inadvisable to purchase the Purchased Common Stock at the Closing; 

(iv) the Company shall have obtained any and all consents, permits, approvals, registrations and waivers necessary or
appropriate for consummation of the purchase and sale of the Purchased Common Stock and the consummation of the other transactions contemplated by the Transaction Documents, all of which shall be in full force and effect; and 

(v) the Purchasers shall have received an opinion from Porter Hedges LLP, the Company’s counsel, dated as of the Closing
Date, in form and substance reasonably acceptable to the Purchasers and addressing the enforceability of this Agreement and the exempt status of the sale of the Purchased Common Stock hereunder from the registration requirements of the Securities
Act; 
 (vi) the Company shall have taken such action as the Company shall reasonably determine is necessary, if any, in
order to qualify the Purchased Common Stock for sale to the Purchasers under applicable securities or “Blue Sky” Laws of the states of the United States (or to obtain an exemption from such qualification) and shall have provided evidence
reasonably satisfactory to the Purchasers of such actions; and 
 (vii) the Company shall have delivered, or caused to be
delivered, to the Purchasers at the Closing, the Company’s closing deliveries described in Section 6.2 of this Agreement. 

  
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 (c) Company’s Conditions. The obligation of the Company to consummate
the sale of the Purchased Common Stock to each of the Purchasers shall be subject to the satisfaction on or prior to the Closing Date of the following conditions with respect to each Purchaser individually and not the Purchasers jointly (which may
be waived by the Company in writing, in whole or in part, to the extent permitted by applicable Law): 
 (i) such Purchaser
shall have performed and complied with the covenants and agreements contained in this Agreement in all material respects that are required to be performed and complied with by that Purchaser on or prior to the Closing Date; 

(ii) the representations and warranties of such Purchaser contained in this Agreement that are qualified by materiality or
Purchaser Material Adverse Effect shall be true and correct when made and as of the Closing Date and all other representations and warranties shall be true and correct in all material respects when made and as of the Closing Date, in each case as
though made at and as of the Closing Date (except that representations made as of a specific date shall be required to be true and correct as of such date only); 

(iii) since the date of this Agreement, no Purchaser Material Adverse Effect with respect to such Purchaser shall have occurred
and be continuing; and 
 (iv) such Purchaser shall have delivered, or caused to be delivered, to the Company at the Closing,
its closing deliveries described in Section 6.3 of this Agreement. 
 Section 6.2 Company Deliveries. At the
Closing, subject to the terms and conditions of this Agreement, the Company will deliver, or cause to be delivered, to each Purchaser: 

(a) the Purchased Common Stock by delivering certificates (bearing the legend set forth in Section 4.5(c)) evidencing such
Purchased Common Stock at the Closing, all free and clear of any Liens, encumbrances or interests of any other party; 
 (b)
the Registration Rights Agreement in substantially the form attached to this Agreement as Exhibit A, which shall have been duly executed by the Company; 

(c) the Officer’s Certificate substantially in the form attached to this Agreement as Exhibit B; 

(d) a certificate of the Secretary of the Company dated as of the Closing Date substantially in the form attached to this
Agreement as Exhibit D; 
 (e) a certificate dated as of a recent date of the Secretary of State of the State of
Delaware with respect to the due organization and good standing in the State of Delaware of the Company; and 
 (f) a cross
receipt, dated the Closing Date, executed by the Company and delivered to each Purchaser, certifying that the Company has received the Purchase Price with respect to the Purchased Common Stock issued and sold to all Purchasers, substantially in the
form attached to this Agreement as Exhibit E. 

  
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 (g) an opinion from Porter Hedges LLP, the Company’s counsel, dated as of
the Closing Date, in form and substance reasonably acceptable to the Purchasers and addressing the enforceability of this Agreement and the exempt status of the sale of the Purchased Common Stock hereunder from the registration requirements of the
Securities Act; 
 (h) the executed Charter Amendment; 

(i) the executed Registration Rights Amendment; 

(j) the executed Anti-Dilution Amendment; 

(k) evidence satisfactory to the Purchasers that the Company has taken the actions set forth in Section 6.1(b)(vi) with
respect to securities or “Blue Sky” laws of the states of the United States; 
 Section 6.3 Purchaser
Deliveries. At the Closing, subject to the terms and conditions of this Agreement, each Purchaser will deliver, or cause to be delivered, to the Company: 

(a) the Registration Rights Agreement in substantially the form attached to this Agreement as Exhibit A, which shall
have been duly executed by such Purchaser; 
 (b) an Officer’s Certificate substantially in the form attached to this
Agreement as Exhibit C; 
 (c) payment of the Common Stock Price for each share of Purchased Common Stock being
purchased by such Purchaser by wire transfer of immediately available funds to an account designated by the Company at least twenty four (24) hours prior to 9:30 a.m., New York time, on the Closing Date; and 

(d) a cross receipt, dated the Closing Date, executed by such Purchaser and delivered to the Company, certifying that such
Purchaser has received its Purchased Common Stock, substantially in the form attached to this Agreement as Exhibit E. 
 ARTICLE
VII 
 INDEMNIFICATION, COSTS AND EXPENSES 

Section 7.1 Indemnification by the Company. The Company agrees to indemnify and hold the Purchasers, their Affiliates, and
any of their respective officers, directors, employees, agents, representatives, successors, members, stockholders and partners (each, a “Purchaser Indemnitee”) harmless from and against any and all losses, claims, damages and
liabilities, joint or several (including any investigation, legal and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any claim asserted) (collectively,
“Losses”), to which any Purchaser Indemnitee may become subject to the extent resulting from, due to or based upon Purchasers having entered into this Agreement or agreeing to purchase securities of the Company under the Securities
Act, the Exchange Act, or other federal or state statutory Law or regulation, at common law or otherwise, insofar as such Losses arise out of or are based upon any inaccuracy in, breach of or failure to comply with, any representation, warranty, or
covenant made by the Company in this Agreement. 

  
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 Section 7.2 Indemnification by Purchasers. Each Purchaser severally and not
jointly agrees to indemnify and hold the Company, its Affiliates, any of its or their Affiliates, and any of its or their respective officers, directors, employees, agents, representatives, successors, members, stockholders and partners (each, a
“Company Indemnitee”) harmless from and against any and all Losses to which any Company Indemnitee may become subject insofar as such Losses arise out of or are based upon any inaccuracy in, breach of or failure to comply with, any
representation, warranty, or covenant made to the Company in this Agreement or any Transaction Document by such Purchaser; provided that the liability of each Purchaser shall be in proportion to, and shall be limited to, such Purchaser’s
Commitment Amount. 
 Section 7.3 Conduct of Indemnification Proceedings. 

(a) Any Person entitled to indemnification hereunder shall (i) give prompt written notice to the indemnifying party of any
claim with respect to which it seeks indemnification; provided that the failure to give such notice shall not limit the rights of such Person or relieve the indemnifying party from any liability that it may have under Sections 7.1 and 7.2
above unless and only to the extent that failure to give such notice materially prejudices the indemnifying party; and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and any
indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided that any Person entitled to indemnification
hereunder shall have the right to employ separate counsel and to participate in the defense of such claim at the expense of such indemnified person, unless (x) the indemnifying party has agreed to pay such fees or expenses or (y) the
indemnifying party shall have failed to assume the defense of such claim and employ counsel reasonably satisfactory to such Person. If such defense is not assumed by the indemnifying party when permitted hereunder, the indemnified party shall be
entitled to assume and control such defense and to settle and agree to pay in full such claim without the consent of the indemnifying party without prejudice to the ability of the indemnified party to enforce its claim for indemnification against
the indemnifying party hereunder. 
 (b) Except as otherwise provided in the preceding paragraph, the indemnifying party
shall not be subject to any liability for any settlement made by the indemnified party without its consent, which consent shall not be unreasonably withheld or delayed. If such defense is assumed by the indemnifying party pursuant to the provisions
hereof, such indemnifying party shall not settle or otherwise compromise the applicable claim (i) unless (A) such settlement or compromise contains a full and unconditional release of the indemnified party and (B) such settlement or
compromise does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of the indemnified party or (ii) if such settlement or compromise provides for injunctive or other non-monetary relief,
in each case, unless the indemnified party otherwise consents in writing. An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one
(1) counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party, a conflict of interest may exist between such indemnified party and any other of such
indemnified parties with respect to such claim, in which event the indemnifying party shall be obligated to pay the reasonable fees and disbursements of such additional counsel or counsels. 

  
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 ARTICLE VIII 

MISCELLANEOUS 

Section 8.1 Interpretation. Article, Section, Schedule and Exhibit references are to this Agreement, unless otherwise
specified. All references to instruments, documents, contracts and agreements are references to such instruments, documents, contracts and agreements as the same may be amended, supplemented and otherwise modified from time to time, unless otherwise
specified. The word “including” shall mean “including but not limited to.” Whenever the Company has an obligation under the Transaction Documents, the expense of complying with such obligation shall be an expense of the Company
unless otherwise specified. Whenever any determination, consent or approval is to be made or given by a Purchaser under this Agreement, such action shall be in such Purchaser’s sole discretion unless otherwise specified. If any provision in the
Transaction Documents is held to be illegal, invalid, not binding or unenforceable, such provision shall be fully severable, and the Transaction Documents shall be construed and enforced as if such illegal, invalid, not binding or unenforceable
provision had never comprised a part of the Transaction Documents, and the remaining provisions shall remain in full force and effect. The Transaction Documents have been reviewed and negotiated by sophisticated parties with access to legal counsel
and shall not be construed against the drafter. 
 Section 8.2 Fees and Expenses. The Company shall be responsible for
and shall pay all Transfer Agent fees and any transfer, documentation, sales, use, stamp, registration, or similar taxes in connection with this Agreement or the issuance of the Purchased Common Stock to the Purchasers. The Company shall pay, on or
prior to the Closing Date, by wire transfer of immediately available funds to an account designated by the Purchasers, all reasonable out-of-pocket expenses incurred by the Purchasers, including without limitation reimbursement of attorneys’
fees and disbursements in connection with the preparation, negotiation, execution and delivery of the Commitment Letter, this Agreement and the Registration Rights Agreement, the consummation of the transactions contemplated hereby and thereby and
any amendment, modification or waiver hereof or thereof. The Company shall be responsible for all costs and fees in connection with any review of the transactions contemplated by the Transaction Documents under the Hart-Scott-Rodino Act, if any.

 Section 8.3 Survival of Provisions. The representations and warranties set forth in this Agreement shall survive the
execution and delivery of this Agreement indefinitely. Except as provided in Section 5.9, the covenants made in this Agreement or any other Transaction Document shall survive the closing of the transactions contemplated herein and remain
operative and in full force and effect regardless of acceptance of any of the Purchased Common Stock and payment therefor and repayment, conversion, exercise or repurchase thereof. All indemnification obligations of the Company and the Purchasers
pursuant to Section 3.11, Section 4.4 and Article VII of this Agreement shall remain operative and in full force and effect unless such obligations are expressly terminated in a writing by the Parties referencing the particular Article or
Section, regardless of any purported general termination of this Agreement. 

  
 28 

 Section 8.4 No Waiver; Modifications in Writing. 

(a) Delay. No failure or delay on the part of any Party in exercising any right, power or remedy hereunder shall operate
as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any right, power or remedy. The remedies provided for herein are cumulative and are
not exclusive of any remedies that may be available to a Party at Law or in equity or otherwise. 
 (b) Specific
Waiver. Except as otherwise provided in this Agreement or the Registration Rights Agreement, no amendment, waiver, consent, modification or termination of any provision of this Agreement or any other Transaction Document shall be effective
unless signed by each of the Parties or each of the original signatories thereto affected by such amendment, waiver, consent, modification or termination. Any amendment, supplement or modification of or to any provision of this Agreement or any
other Transaction Document, any waiver of any provision of this Agreement or any other Transaction Document and any consent to any departure by the Company from the terms of any provision of this Agreement or any other Transaction Document shall be
effective only in the specific instance and for the specific purpose for which made or given. Except where notice is specifically required by this Agreement, no notice to or demand on any Party in any case shall entitle any Party to any other or
further notice or demand in similar or other circumstances. 
 Section 8.5 Binding Effect; Assignment. 

(a) Binding Effect. This Agreement shall be binding upon the Company, each Purchaser, and their respective successors
and permitted assigns. Except as expressly provided in this Agreement, this Agreement shall not be construed so as to confer any right or benefit upon any Person other than the Parties to this Agreement and as provided in Article VII, and their
respective successors and permitted assigns. 
 (b) Assignment of Purchased Common Stock. All or any portion of a
Purchaser’s Purchased Common Stock purchased pursuant to this Agreement may be sold, assigned or pledged by such Purchaser, subject to compliance with applicable securities Laws and the Registration Rights Agreement. 

(c) Assignment of Rights. Each Purchaser may assign all or any portion of its rights and obligations under this
Agreement without the consent of the Company to any Affiliate of such Purchaser, and the assignee shall be deemed to be a Purchaser hereunder with respect to such assigned rights or obligations and shall agree to be bound by the provisions of this
Agreement. Except as expressly permitted by this Section 8.5(c), such rights and obligations may not otherwise be transferred except with the prior written consent of the Company (which consent shall not be unreasonably withheld), in which case
the assignee shall be deemed to be a Purchaser hereunder with respect to such assigned rights or obligations and shall agree to be bound by the provisions of this Agreement. 

  
 29 

 Section 8.6 Confidentiality and Non-Disclosure. Notwithstanding anything
herein to the contrary, each Purchaser that has executed a confidentiality agreement in favor of the Company shall continue to be bound by such confidentiality agreement in accordance with the terms thereof. 

Section 8.7 Communications. All notices and demands provided for hereunder shall be in writing and shall be given by
regular mail, registered or certified mail, return receipt requested, facsimile, air courier guaranteeing overnight delivery or personal delivery to the following addresses: 
  

	 	(a)	If to any Purchaser, at its address as it appears on its signature page hereto, 

 with a copy
to: 
 Neal, Gerber & Eisenberg LLP 

2 N. LaSalle Street, Suite 1700 

Chicago, Illinois 60602 

Attention: David S. Stone 

Facsimile: (312) 578-1796 
  

	 	(b)	If to the Company: 

 Par Petroleum Corporation 

One Memorial City Plaza 
 800
Gessner Road, Suite 875 
 Houston, Texas 77024 

Attention: Brice Tarzwell, General Counsel 

Facsimile: (832) 565-1207 

with a copy to: 
 Porter Hedges
LLP 
 1000 Main Street, 36th Floor 

Houston, Texas 77002 

Attention: E. James Cowen 

Facsimile: (713) 228-1331 
 or to such
other address as the Company or such Purchaser may designate in writing. All notices and communications shall be deemed to have been duly given: (i) at the time delivered by hand, if personally delivered; (ii) upon actual receipt, if sent
by registered or certified mail, return receipt requested, or regular mail, if mailed; (iii) when receipt acknowledged, if sent via facsimile; and (iv) upon actual receipt when delivered to an air courier guaranteeing overnight delivery.

  
 30 

 Section 8.8 Removal of Legend. The Company shall remove the legend described
in Section 4.5(c) from the certificates evidencing the Purchased Common Stock at any time following (x) the six-month anniversary of the Closing Date, upon request of a Purchaser who is not an “affiliate” (as defined under Rule
144 of the Securities Act) of the Company at the time of such request or during the three months prior to such request, provided that the Company is in compliance with its disclosure requirements under applicable federal securities Laws as of such
date and (y) after the twelve-month anniversary of the Closing Date upon request of a Purchaser who is not an “affiliate” (as defined under Rule 144 of the Securities Act) of the Company at the time of such request or during the three
months prior to such request. The Company shall cooperate with such Purchaser to effect removal of such legend and shall deliver to the Transfer Agent irrevocable instructions that the Transfer Agent shall reissue a certificate representing shares
of Purchased Common Stock without legends upon receipt by such Transfer Agent of the legended certificates for such shares, together with (1) either a customary representation by the Purchaser that Rule 144 applies to the shares of Common Stock
represented thereby or (2) a statement by the Purchaser that such Purchaser has sold the shares of Common Stock represented thereby in accordance with the plan of distribution contained in the registration statement filed pursuant to the
Registration Rights Agreement, and (B) the Company shall use its reasonable best efforts to cause its counsel to deliver to the Transfer Agent one or more blanket opinions to the effect that the removal of such legends in such circumstances may
be effected under the Securities Act. 
 Section 8.9 Entire Agreement. The Transaction Documents, including all exhibits
and schedules thereto, are intended by the Parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the Parties hereto and thereto in respect of the subject matter
contained herein and therein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein or therein with respect to the rights granted by the Company or a Purchaser set forth herein or therein.
The Transaction Documents supersede all prior agreements and understandings between the Parties with respect to such subject matter (other than nondisclosure and confidentiality agreements between the Company and the Purchasers signed in
anticipation of an equity financing in the Company). 
 Section 8.10 Governing Law and Venue; Waiver of Jury Trial. 

(a) THIS AGREEMENT AND ALL DISPUTES BETWEEN THE PARTIES UNDER OR RELATING TO THIS AGREEMENT OR THE FACTS AND CIRCUMSTANCES
LEADING TO ITS EXECUTION AND DELIVERY, WHETHER IN CONTRACT, TORT OR OTHERWISE, WILL BE GOVERNED BY AND INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT GIVING EFFECT TO CONFLICTS OF LAWS PRINCIPLES THAT WOULD
RESULT IN THE APPLICATION OF THE LAW OF ANY OTHER STATE. 

  
 31 

 (b) ANY ACTION, SUIT OR PROCEEDING SEEKING TO ENFORCE ANY PROVISION OF, OR BASED
ON ANY MATTER ARISING OUT OF OR IN CONNECTION WITH, THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY SHALL ONLY BE BROUGHT IN ANY FEDERAL COURT LOCATED IN THE STATE OF DELAWARE OR ANY DELAWARE STATE COURT, AND EACH PARTY CONSENTS TO THE
EXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS (AND OF THE APPROPRIATE APPELLATE COURTS THEREFROM) IN ANY SUCH ACTION, SUIT OR PROCEEDING AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER
HAVE TO THE LAYING OF THE VENUE OF ANY SUCH, ACTION, SUIT OR PROCEEDING IN ANY SUCH COURT OR THAT ANY SUCH ACTION, SUIT OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM; PROVIDED, HOWEVER, THAT ANY ACTION, SUIT OR
PROCEEDING, SEEKING TO ENFORCE A FINAL JUDGMENT RENDERED IN SUCH COURT MAY BE BROUGHT IN ANY COURT OF COMPETENT JURISDICTION. PROCESS IN ANY SUCH ACTION, SUIT OR PROCEEDING MAY BE SERVED ON ANY PARTY ANYWHERE IN THE WORLD, WHETHER WITHIN OR WITHOUT
THE JURISDICTION OF ANY SUCH COURT. WITHOUT LIMITING THE FOREGOING, SERVICE OF PROCESS ON SUCH PARTY AS PROVIDED IN SECTION 8.7 SHALL BE DEEMED EFFECTIVE SERVICE OF PROCESS ON SUCH PARTY. 

(c) EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE OUT OF OR RELATING TO THIS AGREEMENT IS LIKELY TO
INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY EXPRESSLY, IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION OR DISPUTE DIRECTLY OR INDIRECTLY BASED
UPON OR ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER AGREEMENTS RELATING HERETO OR ANY DEALINGS AMONG THEM RELATING TO THE TRANSACTIONS CONTEMPLATED HEREBY. THE SCOPE OF THIS WAIVER IS INTENDED TO ENCOMPASS ANY AND ALL ACTIONS, SUITS
AND PROCEEDINGS THAT RELATE TO THE SUBJECT MATTER OF THE TRANSACTIONS CONTEMPLATED HEREBY, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY REPRESENTS AND ACKNOWLEDGES THAT
(i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ACTION, SUIT OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) SUCH PARTY
UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY AND (iv) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND REPRESENTATIONS
IN THIS SECTION 8.10. IN THE EVENT OF LITIGATION THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 

Section 8.11 Execution in Counterparts. This Agreement may be executed in any number of counterparts (including by
facsimile, .pdf or other electronic transmission) and by different Parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together,
shall constitute the same Agreement. 

  
 32 

 Section 8.12 Termination. 

(a) This Agreement may be terminated: 

(i) by mutual written consent of the Company and the Required Purchasers at any time prior to the Closing; 

(ii) by either the Company or any Purchaser (with respect to itself only) if the Closing has not been consummated on or before
September 30, 2013; provided, that no Party may terminate this Agreement pursuant to this Section 8.12(a)(ii) if such Party’s failure to fulfill any of its obligations under this Agreement shall have been the reason that the Closing
shall not have occurred on or before such date; 
 (iii) by either the Company or any Purchaser (with respect to itself only)
if any court of competent jurisdiction in the United States or any other Governmental Authority shall have issued a final order, decree or ruling or taken any other financial action restraining, enjoining or otherwise prohibiting the transactions
contemplated hereby and such order, decree, ruling or other action is or shall have become final and nonappealable; 
 (iv)
by the Company if there shall have been a breach of any representation, warranty or covenant on the part of any Purchaser set forth in this Agreement, or if any such representation or warranty of a Purchaser shall have become untrue, in either case,
such that the conditions set forth in Section 6.1(c) would be incapable of being satisfied by September 30, 2013 and such Purchaser has not cured such breach or inaccuracy within five (5) Business Days after receipt of written notice
thereof from the Company; provided, that the Company is not then in breach of any of its obligations under this Agreement; and 

(v) by any Purchaser (with respect to itself only) if there shall have been a breach of any representation, warranty or
covenant on the part of the Company set forth in this Agreement, or if any such representation or warranty of the Company shall have become untrue, in either case, such that the conditions set forth in Section 6.1(b) would be incapable of being
satisfied by September 30, 2013 and the Company has not cured such breach or inaccuracy within five (5) Business Days after receipt of written notice thereof from the Purchasers; provided, that such Purchaser is not then in breach
of any of its obligations under this Agreement. 
 (b) Notwithstanding anything herein to the contrary, this Agreement shall
automatically terminate if the TSO Acquisition Agreement shall have been terminated pursuant to its terms. 
 (c) In the
event of termination by the Company or any Purchaser of its obligations to effect the Closing pursuant to this Section 8.12, written notice thereof shall be given to the other Purchasers by the Company and, in the event of termination by any
Purchaser, the other Purchasers shall have the right to terminate their obligations to effect the Closing upon written notice to the Company and the other Purchasers. 

  
 33 

 (d) In the event of the termination of this Agreement by either the Company or
the Purchasers as provided in Section 8.12(a) or in accordance with Section 8.12(b): 
 (i) except as set forth in
Section 8.3, this Agreement shall become null and void and have no further force or effect, but the Parties shall not be released from any liability arising from or in connection with any breach of any Transaction Document occurring prior to
such termination and such termination shall not impair the right of any Party to compel specific performance by any other Party of its obligations under any Transaction Document; and 

(ii) the confidentiality agreements entered into by and between each of the Purchasers and the Company shall remain in effect.

 Section 8.13 Recapitalization, Exchanges, Etc. Affecting the Purchased Common Stock. The provisions of this Agreement
shall apply to the full extent set forth herein with respect to any and all Common Stock or any successor or assign of the Company (whether by merger, consolidation, sale of assets or otherwise) which may be issued in respect of, in exchange for or
in substitution of the Purchased Common Stock, and shall be appropriately adjusted for combinations, stock splits, recapitalizations and the like occurring after the date of this Agreement. 

Section 8.14 Obligations Limited to Parties to Agreement. Each of the Parties covenants, agrees and acknowledges that no
Person other than the Purchasers (and their permitted assignees) and the Company shall have any obligation hereunder and that, notwithstanding that one or more of the Purchasers may be a corporation, partnership or limited liability company, no
recourse under the Transaction Documents or under any documents or instruments delivered in connection therewith shall be had against any former, current or future director, officer, employee, agent, general or limited partner, manager, member,
stockholder or Affiliate of any of the Purchasers or the Company or any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of any of the foregoing, whether by the
enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any applicable Law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by
any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of any of the Purchasers or the Company or any former, current or future director, officer, employee, agent,
general or limited partner, manager, member, stockholder or Affiliate of any of the foregoing, as such, for any obligations of the Purchasers and the Company under the Transaction Documents or any documents or instruments delivered in connection
therewith or for any claim based on, in respect of or by reason of such obligation or its creation. 

  
 34 

 Section 8.15 Remedies. The Parties agree that money damages or another remedy
at law would not be a sufficient or adequate remedy for any breach or violation of, or a default under, this Agreement by them and that, in addition to all other remedies available to them, each of them shall be entitled to an injunction restraining
such breach, violation or default or threatened breach, violation or default and to any other equitable relief including, without limitation, specific performance without bond or other security being required. 

[The remainder of this page is intentionally left blank.] 

  
 35 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	PAR PETROLEUM CORPORATION
		
	By:	 	 /s/ R. Seth Bullock

	Name:	 	R. Seth Bullock
	Title:	 	Chief Financial Officer

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	PURCHASER:
	
	 ZCOF PAR PETROLEUM HOLDINGS, L.L.C.

		
	By:	 	 /s/ Philip G. Tinkler

	Name:	 	Philip G. Tinkler
	Title:	 	Vice President
	
	Address:
	 Two North Riverside Plaza, Suite 600

	 Chicago IL 60606

	 Facsimile: 312-454-0335

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

									
		 	PURCHASER:
		
		 	WHITEBOX CONCENTRATED CONVERTIBLE ARBITRAGE PARTNERS, LP
			
		 	By:	 	Whitebox Concentrated Convertible Arbitrage Advisors, LLC; its General Partner
				
		 		 	By:	 	Whitebox Advisors, LLC; its Managing Member
					
		 		 		 	By:	 	 /s/ Mark Strefling

		 		 		 	Name:	 	Mark Strefling
		 		 		 	Title:	 	Chief Operating Officer
		
		 	WHITEBOX SPECIAL OPPORTUNITIES FUND, LP – SERIES O
			
		 	By:	 	Whitebox Special Opportunities Advisors, LLC; its General Partner
				
		 		 	By:	 	Whitebox Advisors, LLC; its Managing Member
					
		 		 		 	By:	 	 /s/ Mark Strefling

		 		 		 	Name:	 	Mark Strefling
		 		 		 	Title:	 	Chief Operating Officer
		
		 	WHITEBOX ASYMMETRIC PARTNERS, LP
			
		 	By:	 	Whitebox Symmetric Advisors, LLC; its General Partner
				
		 		 	By:	 	Whitebox Advisors, LLC; its Managing Member
					
		 		 		 	By:	 	 /s/ Mark Strefling

		 		 		 	Name:	 	Mark Strefling
		 		 		 	Title:	 	Chief Operating Officer

  
 [Signature Page to Common
Stock Purchase Agreement] 

									
		 	WHITEBOX CREDIT ARBITRAGE PARTNERS, LP
			
		 	By:	 	Whitebox Credit Arbitrage Advisors, LLC; its General Partner
				
		 		 	By:	 	Whitebox Advisors, LLC; its Managing Member
					
		 		 		 	By:	 	 /s/ Mark Strefling

		 		 		 	Name:	 	Mark Strefling
		 		 		 	Title:	 	Chief Operating Officer
		
		 	PANDORA SELECT PARTNERS, LP
			
		 	By:	 	Pandora Select Advisors, LLC; its General Partner
				
		 		 	By:	 	Whitebox Advisors, LLC; its Managing Member
					
		 		 		 	By:	 	 /s/ Mark Strefling

		 		 		 	Name:	 	Mark Strefling
		 		 		 	Title:	 	Chief Operating Officer
		
		 	WHITEBOX MULTI-STRATEGY PARTNERS, LP
			
		 	By:	 	Whitebox Multi-Strategy Partners, LLC; its General Partner
				
		 		 	By:	 	Whitebox Advisors, LLC; its Managing Member
					
		 		 		 	By:	 	 /s/ Mark Strefling

		 		 		 	Name:	 	Mark Strefling
		 		 		 	Title:	 	Chief Operating Officer

  
 [Signature Page to Common
Stock Purchase Agreement] 

 
					
	WHITEBOX INSTITUTIONAL PARTNERS, LP
		
	By:	 	Whitebox Advisors, LLC; its Managing Member
			
		 	By:	 	 /s/ Mark Strefling

		 	Name:	 	Mark Strefling
		 	Title:	 	Chief Operating Officer
	
	WHITEBOX TACTICAL OPPORTUNITIES FUND, a series of Whitebox Mutual Funds, a Delaware Statutory Trust
			
		 	By:	 	 /s/ Mark Strefling

		 	Name:	 	Mark Strefling
		 	Title:	 	Chief Operating Officer
	
	Address:
	3033 Excelsior Blvd., Suite 300
	Minneapolis, MN 55416
	Facsimile: 612-253-6149

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

					
	PURCHASER:
	
	ICQ INVESTMENTS, LP, SERIES 10
		
	By:	 	ICONIQ Management, LLC
	Its:	 	General Partner
			
		 	By:	 	 /s/ Kevin Foster

		 	Name:	 	Kevin Foster
		 	Title:	 	Authorized Signatory

  

			
	Address:	 	394 Pacific Ave, 2nd Floor
		 	San Francisco, CA 94111
	
	Facsimile: (415) 321-3960

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	PURCHASER:
	
	ICQ INVESTMENTS, LP, SERIES 12
		
	By:	 	ICONIQ Management, LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Kevin Foster

	Name:	 	Kevin Foster
	Title:	 	Authorized Signatory

  

			
	Address:	 	394 Pacific Ave, 2nd Floor
		 	San Francisco, CA 94111
	
	Facsimile: (415) 321-3960

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	PURCHASER:
	
	MC PAR, LLC
		
	By:	 	 /s/ Wendy V. Kane

	Name:	 	Wendy V. Kane
	Title:	 	Designated Person

  

			
	Address:	 	5251 DTC Parkway, Suite 995
		 	Greenwood Village, CO 80111
	
	Facsimile: 303.397.8889

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	PURCHASER:
	
	BAMBOULA PARTNERS LP
		
	By:	 	Bamboula GP LLC, its General Partner
		
	By:	 	 /s/ Lewis M. Linn

	Name:	 	Lewis M. Linn
	Title:	 	President
	
	Address:
	3555 Timmons Lane, Suite 800
	Houston, TX 77027
	Facsimile: (713) 623-2317

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	PURCHASER:
	
	HIGHBRIDGE INTERNATIONAL LLC
		
	By:	 	Highbridge Capital Management, LLC, as
	Trading Manager
		
	By:	 	/s/ Jason Hempel
	Name:	 	Jason Hempel
	Title:	 	Managing Director

  

			
	Address:	 	40 West 57th Street
		 	New York, NY 10019
	
	 
	Facsimile: 	 	 

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	 PURCHASER:

	
	 LEON COOPERMAN

		
	 By:
	 	 /s/ Leon Cooperman

		 	(By: David Bloom, authorized signatory)
	
	 Address:

	 17024 Brookwood Drive

	 Boca Raton, FL 33496

	
	 Facsimile: (561) 883-0607

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	 PURCHASER:

	
	 CHATHAM EUREKA FUND L.P.

		
	 By:
	 	 Chatham Asset Management, LLC
 Investment
Adviser

		
	 By:
	 	 /s/ Anthony Melchiorre

	 Name: Anthony Melchiorre

	 Title: Managing Member

	
	 Address:

	 c/o Chatham Asset Management, LLC

	 26 Main Street, Suite 204

	 Chatham, NJ 07928

	
	 Facsimile: 973-701-2424

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	 PURCHASER:

	
	BERNARD OSHER TRUST DTD 3/8/88
		
	 By:
	 	 /s/ Bernard Osher

	 Name:
	 	Bernard Osher
	 Title:
	 	Trustee
	
	 Address:

	 One Ferry Building, Suite 255

	 San Francisco, CA 94111

	
Facsimile:                       
                                         
                   

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	 PURCHASER:

	
	 THIRD AVENUE SPECIAL SITUATIONS

	 (MASTER) FUND, L.P.

		
	 By:
	 	 /s/ W. James Hall

	 Name: W. James Hall

	 Title: General Counsel

	
	 Address:

	 622 Third Avenue

	 New York, New York 10017

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

					
		 	PURCHASER:
		
		 	THE JERALD AND MELODY HOWE
		 	WEINTRAUB REVEOCABLE TRUST
			
		 	By:	 	 /s/ Jerald M. Weintraub

		 	Name: Jerald M. Weintraub
		 	Title: Trustee
		
		 	Address: c/o Weintraub Capital Management, LP.
		 	3527 Mt. Diablo Blvd. #322
		 	Lafayette CA 94549
		 	Facsimile:                                  
                                     
		 	jweintraub@wcapital.com
	 AND
	 	ndeschane@wcapital.com

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	PURCHASER:
	
	JACOBY ENTERPRISES INC.
		
	By:	 	 /s/ Jon E. M. Jacoby

	Name: Jon E. M. Jacoby
	Title: President
	
	Address:
	100 Morgan Keegan Dr Ste. 500
	Little Rock, AR 72202
	Facsimile: 501-978-2883

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	PURCHASER:
	
	HOWARD BERKOWITZ
		
	By:	 	 /s/ Howard Berkowitz

	
	Address:
	15 Purchase Hills Drive
	Purchase, NY 10577
	Facsimile: 212-754-8746

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	 PURCHASER:

	
	 GROUNDLAYER CAPITAL INC.

		
	 By:
	 	 /s/ Robert Grundleger

	 Name: Robert Grundleger

	 Title: President

	
	 Address:

	 150 King St. West, Suite 2600

	 Toronto, ON M5H 1J9

	 Facsimile: 416-365-2313

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	 PURCHASER:

	
	 DIANE B. WILSEY REVOCABLE TRUST DTD

5/14/02

		
	 By:
	 	 /s/ Diane B. Wilsey

	 Name: Diane B. Wilsey

	 Title: Trustee

	
	 Address:

	 2352 Pine Street

	 San Francisco CA 94115

	 Facsimile: 415-563-2838

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	 PURCHASER:

	
	 JBAB HOLDINGS LLLP

		
	 By:
	 	 /s/ Andrew Blank

	 Name: Andrew Blank

	 Title: General Partner

	
	 Address:

	 3455 NW 54th Street

	 Miami, FL 33142-3309

	 Facsimile: (305) 760-6944

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	 PURCHASER:

	
	 COUGAR CAPITAL LLC

		
	 By:
	 	 /s/ Emanuel E. Geduld

	 Name: Emanuel E. Geduld

	 Title: Sr. Managing Member

	
	 Address:

	 1370 Avenue of the Americas, 30th Fl

	 New York, NY 10017 Attn Carl J. Bennett

	 Facsimile: 212-702-0672

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	PURCHASER:
	
	FRIED INVESTMENT CORPORATION
		
	By:	 	 /s/ L. Richard Fried, Jr.

	Name:	 	L. Richard Fried, Jr.
	Title:	 	President
	
	Address:
	841 Bishop St. Ste 600
	Honolulu, HI 96813
	Facsimile: 808-536-2073

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	PURCHASER:
	
	BLACK SWAN ALTERNATIVES, LLC
		
	By:	 	 /s/ Harvey Heller

	Name:	 	Harvey Heller
	Title:	 	Managing Partner
	
	Address:
	288 Ninth Street
	Winter Garden, FL 34787
	Facsimile: 407-905-9826

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	PURCHASER:
	
	WILL K. WEINSTEIN REVOCABLE TRUST
	UTA dtd 2/27/90
		
	By:	 	 /s/ Will K. Weinstein

	Name:	 	Will K. Weinstein
	Title:	 	Trustee
	
	Address:
	1 Ferry Building Suite 255
	SF, CA 94111
	Facsimile: 415-956-4126

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	PURCHASER:
	
	JWLP INVESTMENTS, LTD.
		
	By:	 	 /s/ James A. Haywood

	Name:	 	James A. Haywood
	Title:	 	President
	
	Address:
	345 Augusta
	Boerne, TX 78006
	Facsimile: 830-336-4493

  
 [Signature Page to Common
Stock Purchase Agreement] 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date first
above written. 
  

			
	PURCHASER:
	
	FILBERT PARTNERSHIP, LP – Fund 2
		
	By:	 	 /s/ David E. Park III

	Name:	 	David E. Park III
	Title:	 	Authorized Signatory
	
	Address:
	2754 Vallejo St
	San Francisco, CA 94123
	Facsimile:                                  
                                         
        

  
 [Signature Page to Common
Stock Purchase Agreement] 

 Schedule 2.1 

PURCHASERS AND COMMITMENT AMOUNTS 
  

									
	 Purchaser
	  	Common Stock	 	  	Gross Proceeds to
Issuer	 
	 ZCOF Par Petroleum Holdings, L.L.C.
	  	 	44,829,206	  	  	$	62,312,596.34	  
	 Whitebox Asymmetric Partners LP
	  	 	5,029,616	  	  	$	6,991,166.24	  
	 Whitebox Multi-Strategy Partners, LP
	  	 	9,659,528	  	  	$	13,426,743.92	  
	 Whitebox Concentrated Convertible Arbitrage Partners, LP
	  	 	4,896,381	  	  	$	6,805,969.59	  
	 Whitebox Credit Arbitrage Partners, LP
	  	 	3,364,181	  	  	$	4,676,211.59	  
	 Pandora Select Partners, LP
	  	 	3,530,724	  	  	$	4,907,706.36	  
	 Whitebox Institutional Partners, LP
	  	 	4,863,073	  	  	$	6,759,671.47	  
	 Whitebox Special Opportunities Fund, LP—Series O
	  	 	1,432,275	  	  	$	1,990,862.25	  
	 Whitebox Tactical Opportunities Fund
	  	 	532,939	  	  	$	740,785.21	  
	 ICQ Investments, LP, Series 10
	  	 	14,575,540	  	  	$	20,260,000.60	  
	 ICQ Investments, LP, Series 12
	  	 	3,410,072	  	  	$	4,740,000.08	  
	 MC Par LLC
	  	 	14,028,777	  	  	$	19,500,000.00	  
	 Bamboula Partners LP
	  	 	12,949,640	  	  	$	17,999,999.60	  
	 Highbridge International LLC
	  	 	6,538,339	  	  	$	9,088,291.21	  
	 Leon Cooperman
	  	 	3,597,122	  	  	$	4,999,999.58	  
	 Chatham Eureka Fund L.P.
	  	 	3,597,122	  	  	$	4,999,999.58	  
	 Bernard Osher Trust dtd 3/8/88
	  	 	2,158,273	  	  	$	2,999,999.47	  
	 Third Avenue Special Situations (Master) Fund, L.P.
	  	 	719,424	  	  	$	999,999.36	  
	 The Jerald and Melody Howe Weintraub Revocable Trust
	  	 	719,424	  	  	$	999,999.36	  
	 Jacoby Enterprises Inc.
	  	 	719,424	  	  	$	999,999.36	  
	 Howard Berkowitz
	  	 	539,568	  	  	$	749,999.52	  
	 Groundlayer Capital Inc.
	  	 	359,712	  	  	$	499,999.68	  
	 Diane B. Wilsey Revocable Trust DTD 5/14/02
	  	 	359,712	  	  	$	499,999.68	  
	 JBAB Holdings LLLP
	  	 	251,799	  	  	$	350,000.61	  
	 Cougar Capital LLC
	  	 	215,827	  	  	$	299,999.53	  
	 Fried Investment Corporation
	  	 	179,856	  	  	$	249,999.84	  
	 Black Swan Alternatives, LLC
	  	 	179,856	  	  	$	249,999.84	  
	 Will K. Weinstein Revocable Trust
	  	 	179,856	  	  	$	249,999.84	  
	 JWLP Investments Ltd.
	  	 	359,712	  	  	$	499,999.68	  
	 Filbert Partnership LP – Fund 2
	  	 	107,914	  	  	$	150,000.46	  
	 Total
	  	 	143,884,892	  	  	$	199,999,999.85	  
		  	  
	  
	 	  	  
	  
	 

 Exhibit A 

REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of
            , 2013, is entered into among Par Petroleum Corporation, a Delaware corporation (the “Company”), and each of the other parties executing a counterpart signature
page hereof whether on or after the date hereof. 
 W I T N E S S E T H 

WHEREAS, the Company and certain stockholders of the Company (the “Investors”) are parties to that certain Common Stock
Purchase Agreement (the “Common Stock Purchase Agreement”), with respect to the purchase by the Investors of an aggregate of 143,884,892 shares of common stock, par value $0.01 per share (the “Common Stock”), of the
Company for an aggregate purchase price of $200,000,000 in a private placement under Regulation D of the Securities Act (the “Offering”); and 

WHEREAS, the Company has agreed to provide such Investors who execute this Agreement with the registration rights specified in this Agreement
with respect to any shares of Common Stock purchased by each such Investor in the Offering, on the terms and subject to the conditions set forth herein. 

NOW, THEREFORE, in consideration of the premises, and the mutual covenants and agreements set forth below, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

ARTICLE I 

DEFINITIONS 

Section 1.1 Definitions. Capitalized terms used in this Agreement and not otherwise defined herein shall have the meanings
set forth below: 
 “Additional Registration Statement” has the meaning set forth in Section 2.1(d). 

“Adverse Effect” means an adverse effect on the price, timing or distribution of the Registrable Shares pursuant to any
Registration Statement, based on market conditions or otherwise. 
 “Advice” has the meaning set forth in
Section 2.6. 
 “Affiliate” means, with respect to any Person, any other Person which directly or indirectly
through one or more intermediaries Controls, is controlled by, or is under common Control with, such Person. 
 “Agreement”
has the meaning set forth in the Preamble. 

 “Allocated Purchase Price” means, with respect to each Holder, the amount paid
by such Holder for the Common Stock purchased by such Holder under the Common Stock Purchase Agreement. 
 “Board” means
the board of directors of the Company. 
 “Business Day” means a day other than a Saturday, Sunday or other day on which
commercial banks in Houston, Texas or New York City, New York are authorized or required by law to close. 
 “Closing Date”
means the date that the Offering closes pursuant to the Common Stock Purchase Agreement. 
 “Commitment Letter”
means that certain commitment letter dated June 14, 2013 entered into by the Company and the Purchasers whereby each of the Purchasers offered the Company its binding commitment and agreement to purchase in the aggregate $200,000,000 of shares
of the Common Stock at a price of $1.39 per share, for the purposes and upon and subject to the terms and conditions set forth therein. 

“Common Stock” has the meaning set forth in the Recitals. 

“Common Stock Purchase Agreement” has the meaning set forth in the Recitals. 

“Company” has the meaning set forth in the Preamble and will include any successors pursuant to Section 2.12.

 “Company Covered Persons” has the meaning set forth in Section 2.8(b). 

“Control” (including the terms “controlling”, “controlled by” or “under common control with”)
means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. 

“Cut Back Shares” has the meaning set forth in Section 2.1(d). 

“Demand Request” has the meaning set forth in Section 2.2(a). 

“Demanding Stockholder” has the meaning set forth in Section 2.2(a). 

“Disclosure Package” means, with respect to any offering of securities, (i) the preliminary prospectus and
(ii) each Issuer Free Writing Prospectus. 
 “Effectiveness Deadline” means, (i) with respect to the Initial
Registration Statement, as promptly as practicable after filing thereof, but in no event later than (x) 180 days after the Closing Date, or (y) if earlier, 5 Business Days after the date on which the SEC informs the Company (I) that
the SEC will not review the Initial Registration Statement or (II) that the Company may request the acceleration of the effectiveness of the Initial Registration Statement and the Company makes such request; (ii) with respect to any Additional
Registration Statement, as promptly as practicable after the filing thereof, but in no event later than one year after the Closing Date and (iii) with respect to any Registration Statement in connection with an Underwritten Registration, as
promptly as practicable after the filing thereof; provided, that if in any case the Effectiveness Deadline falls on a Saturday, Sunday or any other day which shall be a legal holiday or a day on which the SEC is authorized or required by law or
other government actions to close, the Effectiveness Deadline shall be the following Business Day. 

 “Effectiveness Period” means, (i) with respect to the Initial Registration
Statement and any Additional Registration Statements, the period from the date of first effectiveness until the earlier to occur of the following: (a) the Holders have sold all of the Registrable Shares, (b) all of the Registrable Shares
may be sold by the Holders without volume restrictions pursuant to Rule 144 or (c) the third anniversary of the effective date of such Registration Statement; (ii) with respect to an Underwritten Registration that is not a Shelf
Registration, a period of not less than one hundred and eighty (180) days (or such lesser period as is necessary for the underwriters in an underwritten offering to sell unsold allotments) from the date of first effectiveness; and
(iii) with respect to a Shelf Registration, from the date of first effectiveness until the earlier of (x) the third anniversary of the effective date of such Registration Statement and (y) the date on which all the Registrable Shares
subject thereto have been sold pursuant to such Registration Statement. 
 “Event” has the meaning set forth in
Section 2.1(b). 
 “Event Date” has the meaning set forth in Section 2.1(b). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated by the SEC
thereunder. 
 “Excluded Registration” means a registration under the Securities Act of (i) securities on Form S-8 or
any similar successor form or (ii) securities to effect the acquisition of, or combination with, another Person registered on Form S-4 or any similar successor form. 

“Filing Deadline” means (i) with respect to the Initial Registration Statement, the 60th day following the Closing Date
and (ii) with respect to any Additional Registration Statement, the 30th day after the date that the Company is allowed to file such Additional Registration Statement by the SEC; provided, that if in any case the Filing Deadline falls on a
Saturday, Sunday or any other day which shall be a legal holiday or a day on which the SEC is authorized or required by law or other government actions to close, the Filing Deadline shall be the following Business Day. 

“Governmental Authority” means any international, supranational or national government, any state, provincial, local or other
political subdivision thereof; any entity, authority or body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government; any court, tribunal or arbitrator; any self-regulatory organization; or
any securities exchange or quotation system. 
 “Holder” means (i) each Person executing a counterpart signature
hereto and (ii) any other Person who shall have become a party to this Agreement in accordance with Section 2.9. 

“Holder Covered Persons” has the meaning set forth in Section 2.8(a). 

 “Initial Registration Statement” has the meaning set forth in
Section 2.1(a). 
 “Inspectors” has the meaning set forth in Section 2.5(j). 

“Investors” has the meaning set forth in the Recitals. 

“Issuer Free Writing Prospectus” means any “issuer free writing prospectus” as defined in Rule 433 promulgated
under the Securities Act. 
 “Joinder Agreement” has the meaning set forth in Section 2.9. 

“Liquidated Damages” has the meaning set forth in Section 2.1(b). 

“Material Disclosure Event” means, as of any date of determination, any event relating to the Company or any of its
Subsidiaries that the Board reasonably determines in good faith, after consultation with outside counsel to the Company, (i) would require disclosure of material, non-public information in any Registration Statement or related prospectus
including Registrable Shares (including documents incorporated by reference therein) so that such Registration Statement would not be materially misleading or otherwise not in compliance with applicable securities laws, (ii) would not otherwise
be required to be publicly disclosed by the Company at that time in a periodic report to be filed with or furnished to the SEC under the Exchange Act but for the filing of such Registration Statement or related prospectus and (iii) if publicly
disclosed at the time of such event, could reasonably be expected to have a material adverse effect on the business, financial condition, prospects or results of operations of the Company and its Subsidiaries or would materially adversely affect a
pending or proposed material acquisition, merger, recapitalization, consolidation, reorganization, financing or similar transaction, or negotiations with respect thereto. 

“Notice” has the meaning set forth in Section 4.8(a). 

“Offering” has the meaning set forth in the Recitals. 

“Party” means any party to this Agreement. 

“Person” or “person” means any natural person, firm, limited liability company, general or limited
partnership, association, corporation, company, joint venture, trust, Governmental Authority or other entity. 
 “Qualified Public
Offering” means (i) a public offering of Common Stock under the United States securities laws or (ii) any merger, consolidation, business combination, amalgamation, transfer of all or substantially all of the assets of the
Company, or similar transaction to a third party as a result of which the shareholders of the Company receive, as the consideration in such merger, consolidation, business combination, amalgamation, transfer or similar transaction, equity securities
of a class that (A) has been registered as part of a public offering under the United States securities laws and (B) is publicly traded on a national securities exchange or the London Stock Exchange or quoted on an automated interdealer
quotation system in or outside the United States, which raises a minimum of $30 million of gross proceeds to the Company and/or the shareholders of the Company. 

 “Records” has the meaning set forth in Section 2.5(j). 

“register,” “registered” and “registration” refer to a registration effected by preparing
and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such registration statement. 

“Registrable Shares” means (i) the shares of Common Stock purchased by the Investors pursuant to the Common Stock
Purchase Agreement, and (ii) any and all shares of Common Stock issued or issuable with respect to such shares of Common Stock by way of stock dividend or a stock split or in connection with any combination of shares, recapitalization, merger,
consolidation or other reorganization. 
 “Registration Statement” shall mean each of the Initial Registration Statement,
any Additional Registration Statements and any registration statement in connection with an Underwritten Registration. 

“Requesting Holders” has the meaning set forth in Section 2.2(e). 

“Required Filing Date” has the meaning set forth in Section 2.2(b). 

“Rule 144” means Rule 144 promulgated under the Securities Act, as the same may be amended from time to time, and any
successor or similar rule or regulation hereafter adopted by the SEC. 
 “SEC” means the Securities and Exchange Commission
or any other federal agency at the time administering the Securities Act. 
 “SEC Restrictions” has the meaning set forth
in Section 2.1(d). 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations promulgated by the SEC thereunder. 
 “Selling Securityholder Questionnaire” has the meaning set forth in
Section 2.14. 
 “Shelf Registration” has the meaning set forth in Section 2.2(c). 

“Subsidiaries” means any other Person (a) in which the Company owns, directly or indirectly, fifty percent (50%) or
more of the securities or other ownership interests of such other Person, or (b) in which the Company owns, directly or indirectly, securities or other ownership interests having ordinary voting power to elect a majority of the board of
managers or directors, or other persons performing similar functions, of such other Person. 
 “Suspension Notice” has the
meaning set forth in Section 2.6. 
 “Suspension Period” has the meaning set forth in Section 2.6.

 “Underwritten Registration” has the meaning set forth in Section 2.2(a). 

 Section 1.2 Headings. Headings shall be ignored in construing this
Agreement. 
 Section 1.3 Singular, plural, gender. References to one gender include all genders and references to the
singular include the plural and vice versa. 
 Section 1.4 Recitals and Sections. References to this Agreement shall
include the Recitals to it and references to Sections are to Sections of this Agreement. 
 Section 1.5 Information.
References to books, records or other information mean books, records or other information in any form including paper, electronically stored data, magnetic media, film and microfilm. 

Section 1.6 Interpretation. Whenever the words “include,” “includes” or “including” are used
in this Agreement, they shall be deemed to be followed by the words “without limitation.” This Agreement shall be construed as if it is drafted by all the parties hereto and no presumption or burden of proof will arise favoring or
disfavoring any party by virtue of authorship of any of the provisions of this Agreement if an ambiguity or question of intent or interpretation arises. 

ARTICLE II 

REGISTRATION RIGHTS 

Section 2.1 Registration. 

(a) Registration Statement. Subject to the terms and conditions of this Agreement, as soon as reasonably practicable
after the Closing Date, but in any event no later than the applicable Filing Deadline, the Company will prepare and file a registration statement on Form S-1 or Form S-3 if the Company is eligible to use such form prior to effectiveness (the
“Initial Registration Statement”) with the SEC for the resale of the Registrable Shares. The Company shall use its commercially reasonable efforts to (a) have the Initial Registration Statement declared effective on or prior to
the applicable Effectiveness Deadline, and (b) cause the Initial Registration Statement to continue to be effective until the expiration of the applicable Effectiveness Period. For avoidance of doubt, the Company’s obligations hereunder
shall include the filing of all amendments, post-effective amendments and supplements to the Initial Registration Statement and the prospectus used therein as may be necessary to keep such Initial Registration Statement effective throughout the
applicable Effectiveness Period and comply with the Securities Act with respect to the disposition of all Registrable Shares during such period, as required pursuant to Section 2.5(a). 

(b) Liquidated Damages. If any Registration Statement (other than any Registration Statement with respect to an
Underwritten Registration) (i) is not filed with the SEC on or prior to the applicable Filing Deadline, (ii) is not declared effective by the SEC (or otherwise does not become effective) for any reason on or prior to the applicable
Effectiveness Deadline, or (iii) does not remain effective for the applicable Effectiveness Period for any reason, (any such failure or breach in clauses (i) through (iii) above being referred to as an “Event,” and,
the date on which such Event occurs being referred to as an “Event Date”) then in addition to any other rights the Holders may have hereunder or under applicable law, from the Event Date, for each day that the Event continues, the
Company shall pay the Holders with respect to such Event, as liquidated damages and not as a penalty, an amount in cash equal to 0.25% of the Holder’s Allocated Purchase Price per calendar month or portion thereof prior to the cure of an Event
(the “Liquidated Damages”). Notwithstanding the foregoing, the maximum payment of Liquidated Damages to any Holder associated with all Events in the aggregate shall not exceed 0.75% of the Holder’s Allocated Purchase Price.

 (c) Waiver of Liquidated Damages. The Company may request a waiver of its
obligation to pay any Liquidated Damages pursuant to Section 2.1(b), which may be granted or withheld by the consent of the Holders of a majority of the Registrable Shares, taken as a whole, in their sole discretion. The Company’s
obligation to pay Liquidated Damages under Section 2.1(b) other than partial Liquidated Damages owing but not yet paid shall terminate at such time as the registration rights granted by this Agreement terminate in accordance with
Section 3.1. 
 (d) SEC Modification of Offering Size. If at any time the SEC takes the position that the
offering of some or all of the Registrable Shares on the Initial Registration Statement is not eligible to be made on a delayed or continuous basis under the provisions of Rule 415 under the Securities Act or requires any Holder to be named as an
“underwriter”, the Company shall use its commercially reasonable efforts to persuade the SEC that the offering contemplated by the Initial Registration Statement is a valid secondary offering and not an offering “by or on behalf of
the issuer” as defined in Rule 415 and that none of the Holders is an “underwriter”. The Holders shall have the right to participate or have their counsel participate in any meetings or discussions with the SEC regarding the
SEC’s position and to comment or have their counsel comment on any written submission made to the SEC with respect thereto. No such written submission shall be made to the SEC to which the Holders’ counsel reasonably objects. In the event
that, despite the Company’s commercially reasonable efforts and compliance with the terms of this Section 2.1(d), the SEC refuses to alter its position, the Company shall (i) remove from the Initial Registration Statement such
portion of the Registrable Shares objected to by the SEC (the “Cut Back Shares”) and/or (ii) agree to such restrictions and limitations on the registration and resale of the Registrable Shares as the SEC may require to assure
the Company’s compliance with the requirements of Rule 415 (collectively, the “SEC Restrictions”); provided, however, that the Company shall not agree to name any Holder as an “underwriter” in such Initial
Registration Statement without the prior written consent of such Holder. Any cut-back imposed on the Holders pursuant to this Section 2.1(d) shall be allocated among the Holders on a pro rata basis, unless the SEC Restrictions otherwise
require or provide or the Holders otherwise agree. On or prior to the applicable Effectiveness Deadline, the Company shall have one or more registration statements on Form S-1 or Form S-3, as applicable, declared effective covering the resale of the
Cut Back Shares (each an “Additional Registration Statement”). For the avoidance of doubt, the Liquidated Damages described above shall not begin to accrue with respect to such Cut Back Shares until after the applicable
Effectiveness Deadline. 

 Section 2.2 Underwritten Registration. 

(a) Request for Underwritten Registration. At any time after the date of this Agreement, any Holder or group of Holders
that, together with its or their Affiliates, holds more than $50 million of the Registrable Shares (collectively, a “Demanding Stockholder”) shall have the right to require the Company to file a registration statement on Form S-1 or
S-3, as applicable, or any similar form or successor to such forms under the Securities Act, or any other appropriate form under the Securities Act or the Exchange Act for an underwritten public offering of all or part of its Registrable Shares (an
“Underwritten Registration”), by delivering to the Company written notice stating that such right is being exercised, naming the Demanding Stockholder(s) whose Registrable Shares are to be included in such registration, specifying
the aggregate number of the Demanding Stockholder’s Registrable Shares to be included in such registration and, subject to Section 2.2(d) hereof, describing the intended method of distribution thereof to the extent then known (a
“Demand Request”). The Demanding Stockholders hereunder shall collectively have the right to require up to three (3) Underwritten Registrations under this Section 2.2(a) and the Demanding Stockholders shall be
limited to one Demand Request in any 365 day period. 
 (b) Required Filing Date. Subject to
Section 2.2(g), the Company shall file the Registration Statement in respect of an Underwritten Registration as soon as practicable and, in any event, within ninety (90) days after receiving a Demand Request (the “Required
Filing Date”) on any form for which the Company then qualifies, and which form shall be available for the sale of the Registrable Shares in accordance with the intended methods of distribution thereof, and shall use commercially reasonable
efforts to cause the same to be declared effective by the SEC on or before the applicable Effectiveness Deadline. 
 (c)
Shelf Registration. With respect to any Underwritten Registration, subject to the availability of a registration statement on Form S-3 (or any successor form), the Company shall, upon written request from a Demanding Stockholder, agree to
effect a registration of the Registrable Shares in a continuous offering pursuant to Rule 415 under the Securities Act (or any successor rule) (a “Shelf Registration”), and, thereafter, shall use commercially reasonable efforts to
cause such Registration Statement to be declared effective under the Securities Act on or before the applicable Effectiveness Deadline. 

(d) Selection of Underwriters. The offering of Registrable Shares pursuant to such Underwritten Registration, including
pursuant to a Shelf Registration, shall be in the form of a “firm commitment” underwritten offering. The Demanding Stockholders making such Demand Request shall select (i) the investment banking firm or firms to manage the
underwritten offering and (ii) counsel to the Requesting Holders; provided that, in the case of clause (i), such selection shall be subject to the consent of the Company, which consent shall not be unreasonably withheld or delayed. No Holder
may participate in any underwritten registration pursuant to Section 2.2(a) unless such Holder (x) agrees to sell such Holder’s Registrable Shares on the basis provided in any underwriting agreement agreed upon by the Company
and accepts the underwriters selected in accordance with the procedures described in this Section 2.2(d), and (y) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other
documents reasonably required under the terms of such underwriting agreement; provided that no such Holder shall be required to make any representations or warranties in connection with any such registration other than representations and warranties
as to (i) such Holder’s ownership of his, her or its Registrable Shares to be transferred free and clear of all liens, claims, and encumbrances created by such Holder, (ii) such Holder’s power and authority to effect such
transfer, and (iii) such matters pertaining to such Holder’s compliance with securities laws with respect to the Registrable Shares as may be reasonably requested; provided, further that any obligation of such Holder to indemnify any
Person pursuant to any such underwriting agreement shall be several, not joint and several, among such Holders selling Registrable Shares, and such liability shall be limited to the net amount received by such Holder from the sale of his, her or its
Registrable Shares pursuant to such Underwritten Registration (which amounts shall include the amount of cash or the fair market value of any assets, including Common Stock, received in exchange for the sale or exchange of such Registrable Shares or
that are the subject of a distribution), and the relative liability of each such Holder shall be in proportion to such net amounts; provided, further that this Section 2.2(d) shall not require any Holder of Registrable Shares to agree to
any lock up agreement, market standoff agreement or holdback agreement other than those permitted by Section 2.4 hereof. 

 (e) Rights of Nonrequesting Holders. Upon receipt of any Demand Request,
the Company shall promptly (but in any event within ten (10) days) give written notice of such proposed Underwritten Registration to all other Holders of Registrable Shares, who shall have the right, exercisable by written notice to the Company
within fifteen (15) days of their receipt of the Company’s notice, to elect to include in such Underwritten Registration such portion of their Registrable Shares as they may request, so long as such Registrable Shares are proposed to be
disposed of in accordance with the method or methods of disposition requested pursuant to this Section 2.2. All Holders requesting to have their Registrable Shares included in an Underwritten Registration in accordance with the preceding
sentence together with all Demanding Stockholders shall be deemed to be “Requesting Holders” for purposes herein. 

(f) Priority on Underwritten Registrations. No securities to be sold for the account of any Person (including the
Company), other than a Requesting Holder, shall be included in an Underwritten Registration if the managing underwriters shall advise the Company and the Requesting Holders in writing that the aggregate amount of such securities requested to be
included in any such Underwritten Registration would have an Adverse Effect. Furthermore, if the managing underwriters shall advise the Company and the Requesting Holders that, even after exclusion of all securities of other Persons pursuant to the
immediately preceding sentence, the amount of Registrable Shares proposed to be included in such Underwritten Registration by Requesting Holders is sufficiently large to cause an Adverse Effect, the Registrable Shares of the Requesting Holders to be
included in such Underwritten Registration shall equal the number of shares which the Requesting Holders are so advised can be sold in such offering without an Adverse Effect and such shares shall be allocated pro rata among the Requesting Holders
on the basis of the number of Registrable Shares requested to be included in such registration by each such Requesting Holder; provided, that if the number of Registrable Shares owned by the Demanding Stockholder to be included in the Underwritten
Registration is less than 80% of the number requested to be so included by such Demanding Stockholder, the Demanding Stockholder may withdraw such Demand Request by giving notice to the Company; if withdrawn, the Demand Request shall be deemed not
to have been made for all purposes of this Agreement and the Company shall pay all expenses of such withdrawn Underwritten Registration in accordance with Section 2.7 hereof. An Underwritten Registration shall not count as an
Underwritten Registration until the Registration Statement in connection with such offering has become effective, and any Underwritten Registration shall not count as an Underwritten Registration unless the Demanding Stockholder is able to register
and sell at least 80% of the Registrable Shares requested to be included by such Demanding Stockholder in such Underwritten Registration. 

 (g) Deferral of Filing. The Company may defer the filing (but not the
preparation) of a Registration Statement required by this Section 2.2 until after the Required Filing Date (i) for a period not to exceed one hundred eighty (180) days, if, at the time the Company receives the Demand Request,
there exists a Material Disclosure Event, or (ii) for a period not to exceed one hundred eighty (180) days, if at the time the Company receives the Demand Request, the Board determines in its reasonable judgment that such Underwritten
Registration would (A) materially interfere with a significant acquisition, corporate organization or other similar transaction involving the Company or (B) render the Company unable to comply with requirements under the Securities Act or
Exchange Act. A deferral of the filing of a Registration Statement pursuant to this Section 2.2(g) shall be lifted, and the requested Registration Statement shall be filed forthwith, if, in the case of a deferral pursuant to clause
(i) of the preceding sentence, the Material Disclosure Event is disclosed or terminated, or, in the case of a deferral pursuant to clause (ii)(A) of the preceding sentence, the acquisition, corporate organization or similar transaction is
abandoned, or, in the cause of a deferral pursuant to clause (ii)(B) of the preceding sentence, such Underwritten Registration would no longer render the Company unable to comply with the requirements under the Securities Act or the Exchange Act. In
order to defer the filing of a Registration Statement pursuant to this Section 2.2(g), the Company shall promptly (but in any event within ten (10) days), upon determining to seek such deferral, deliver to each Requesting Holder a
certificate signed by an executive officer of the Company stating that the Company is deferring such filing pursuant to this Section 2.2(g), a general statement of the reason for such deferral and an approximation of the anticipated
delay. Within twenty (20) days after receiving such certificate, the Demanding Stockholder may withdraw such Demand Request by giving notice to the Company; if withdrawn, the Demand Request shall be deemed not to have been made for all purposes
of this Agreement and the Company shall pay all expenses of such withdrawn Underwritten Registration in accordance with Section 2.7 hereof. The Company may defer the filing of a particular Registration Statement pursuant to this
Section 2.2(g) only once in any consecutive twelve (12)-month period; provided that any deferral pursuant to this Section 2.2(g) shall be deemed to be a “Suspension Period” for purposes of Section 2.6
and shall be subject to the limitations and obligations during Suspension Periods set forth in Section 2.6. Each Holder agrees to keep confidential the fact that the Company has exercised its rights under this Section 2.2(g)
and all facts and circumstances relating to such exercise until such information is made public by the Company. 

 (h) Withdrawal and Cancellation. Any Requesting Holder may withdraw its
Registrable Shares from an Underwritten Registration at any time prior to effectiveness of the related Registration Statement and any Demanding Stockholder shall have the right to cancel a proposed Underwritten Registration of Registrable Shares
pursuant to this Section 2.2(h). Upon such cancellation, the Company shall cease all efforts to secure registration and such Underwritten Registration shall not be counted as an Underwritten Registration under this Agreement for any
purpose so long as the Demanding Stockholder pays all expenses (including the expenses of the Company) of such cancelled Underwritten Registration. 

(i) Inclusion of Other Securities. In any Underwritten Registration requested pursuant to this Section 2.2,
the Company shall not be permitted to register securities other than Registrable Shares for sale for the account of any Person (including the Company), unless permitted to do so by the written consent of the Holders of a majority of the Registrable
Shares to be sold in such Underwritten Registration. 
 Section 2.3 SEC Registration Statements. 

In the event that the Company becomes eligible to use Form S-3 (or any successor form) after any Registration Statement has
become effective, the Company may, or at the request of the Holders of at least a majority of the Registrable Shares, shall convert all such Registration Statements on Form S-1 into Registration Statements on Form S-3 pursuant to Rule 429 under the
Securities Act. The Company shall use commercially reasonable efforts to become and remain eligible to use Form S-3. 
 All
Registration Statements shall comply with applicable requirements of the Securities Act, and, together with each prospectus included, filed or otherwise furnished by the Company in connection therewith, shall not contain any untrue statement of
material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. 

Section 2.4 Holdback Agreements. 

(a) The Company agrees (i) not to effect any public sale or distribution of its equity securities, or any securities
convertible into or exchangeable or exercisable for such securities, except pursuant to Excluded Registrations, during the seven (7) days prior to the effective date of any Registration Statement and thereafter until the date on which all of
the Registrable Shares subject to such Registration Statement have been sold (not to exceed ninety (90) days, as required by the underwriters managing the offering, subject to one extension of no more than seventeen (17) days if required
by the underwriters managing the offering in connection with NASD Rule 2711(f) or any similar or successor provision) and (ii) if requested by the managing underwriters, to use reasonable efforts to cause each director and executive officer to
agree not to effect any public sale or distribution (including sales pursuant to Rule 144) of any such securities during such period (except as part of an Underwritten Registration, if otherwise permitted); provided that the foregoing described
holdback shall not apply to the extent that the managing underwriters of such offering otherwise agree or, in the event a Registration Statement does not relate to an Underwritten Registration with respect to clause (i), if the holders of a majority
of such Registrable Shares consent thereto. 

 (b) If any Holders of Registrable Shares notify the Company in writing that they
intend to effect an Underwritten Registration registered pursuant to a Shelf Registration, the Company agrees (i) not to effect any public sale or distribution of its equity securities, or any securities convertible into or exchangeable or
exercisable for its equity securities, except pursuant to Excluded Registrations, during the seven (7) days prior to and during the ninety (90)-day period beginning on the filing of the prospectus supplement with respect to such offering (not
to exceed ninety (90) days, as required by the underwriters managing the offering, subject to one extension of no more than seventeen (17) days if required by the underwriters managing the offering in connection with NASD Rule 2711(f) or
any similar or successor provision); and (ii) if requested by the managing underwriters, to use reasonable efforts to cause each director and executive officer to agree not to effect any public sale or distribution (including sales pursuant to
Rule 144) of any such securities during such period (except as part of such Underwritten Registration, if otherwise permitted); provided that the foregoing described holdback shall not apply to the extent that the managing underwriters of such
offering otherwise agree. 
 (c) Each Holder of Registrable Shares agrees, in the event of an underwritten offering by the
Company (whether for the account of the Company or otherwise), not to effect any public sale or distribution of any Registrable Shares, or any securities convertible into or exchangeable or exercisable for Registrable Shares, including any sale
pursuant to Rule 144 (except as part of such underwritten offering), during the seven (7) days prior to and ending up to ninety (90) days after the date of the final prospectus; provided that the duration of the foregoing
restriction shall be no longer than the duration of the shortest restriction generally imposed by the underwriters on the officers or directors or any other holder of Common Stock of the Company on whom a restriction is imposed in connection with
such public sale and distribution; provided however, that the restrictions set forth in this Section 2.4(c) shall not apply with respect to a Holder that owns less than $10 million of Registrable Shares based on the Allocated
Purchase Price of such Holder; and provided, further, that after a Qualified Public Offering, any Holder, upon notice to the Company that such Holder wishes to surrender such Holder’s rights under the Agreement, shall, upon such notice,
no longer be subject to the obligations imposed by this Agreement, including this Section 2.4(c). 

 Section 2.5 Registration Procedures. The Company shall use commercially
reasonable efforts to effect the registration and the sale of such Registrable Shares in accordance with the terms hereof, and pursuant thereto the Company shall as expeditiously as possible, but subject to the other provisions of this Agreement:

 (a) prepare and file with the SEC by the applicable Filing Deadline or the Required Filing Date, as applicable, each
Registration Statement on the appropriate form under the Securities Act with respect to such Registrable Shares as required or permitted in accordance with the terms of this Agreement and use commercially reasonable efforts to cause such
Registration Statement to become effective by the applicable Effectiveness Deadline, and to remain continuously effective throughout the applicable Effectiveness Period, prepare and file with the SEC such amendments, post-effective amendments, and
supplements to each Registration Statement and the prospectus used in connection therewith as may be necessary to keep such Registration Statement effective throughout the applicable Effectiveness Period and comply with the provisions of the
Securities Act with respect to the disposition of all Registrable Shares during such period in accordance with the intended methods of disposition by the sellers thereof set forth in such Registration Statement; provided that as far in
advance as practicable before filing any such Registration Statement or any amendment or supplement to such Registration Statement, the Company shall furnish to the selling Holders copies of reasonably complete drafts of all such documents prepared
to be filed (including exhibits and documents that are to be incorporated by reference into the Registration Statement, amendment or supplement), and any such Holder shall have the opportunity to provide comments to any information contained therein
and the Company shall make any corrections or other amendments reasonably requested by such Holder with respect to such information prior to filing any such Registration Statement, amendment or supplement; 

(b) furnish without charge to each Holder selling Registrable Shares and the underwriters, if any, of the securities being
registered such number of copies of each Registration Statement, each amendment and supplement thereto, the prospectus included in such Registration Statement (including each preliminary prospectus and any summary prospectus), any documents
incorporated by reference therein and such other documents as such Holder or underwriters may reasonably request in order to facilitate the disposition of the Registrable Shares owned by such Holder or the sale of such securities by such
underwriters (it being understood that, subject to this Section 2.5 and the requirements of the Securities Act and applicable state securities laws, the Company consents to the use of the prospectus and any amendment or supplement
thereto by each such Holder and the underwriters in connection with the offering and sale of the Registrable Shares covered by the Registration Statement of which such prospectus, amendment or supplement is a part); 

(c) use commercially reasonable efforts to register or qualify such Registrable Shares under such other securities or
“blue sky” laws of such jurisdictions as any Holder thereof or any managing underwriters reasonably request; use commercially reasonable efforts to keep each such registration or qualification (or exemption therefrom) effective during the
applicable Effectiveness Period; and do any and all other acts and things which may be reasonably necessary or advisable to enable each such Holder to consummate the disposition of the Registrable Shares owned by such Holder in such jurisdictions;
provided that the Company shall not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this subparagraph, (ii) subject itself to taxation in any such
jurisdiction where it is not at such time so subject, or (iii) consent to general service of process in any such jurisdiction where it is not at such time so subject; 

 (d) promptly notify each Holder of such Registrable Shares and each underwriter,
if any, in writing (i) when a prospectus or any prospectus supplement or post-effective amendment has been filed and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective; (ii) of the
issuance by any state securities or other regulatory authority of any order suspending the qualification or exemption from qualification of any of the Registrable Shares under state securities or “blue sky” laws or the initiation or threat
of initiation of any proceedings for that purpose; and (iii) if such Registration Statement or related prospectus, at the time it or any amendment thereto became effective or at any time such prospectus is required to be delivered under the
Securities Act, contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading, upon the discovery by the Company of such material
misstatement or omission or of the happening of any event as a result of which the Company believes there would be such a material misstatement or omission; provided that, in the case of clause (iii), promptly after delivery of such notice,
the Company shall, as the case may be, (x) prepare and file with the SEC a post-effective amendment to such Registration Statement and use commercially reasonable efforts to cause such amendment to become effective so that such Registration
Statement, as so amended, shall not contain any untrue statement of a material fact or omit a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading or (y) prepare and
furnish a supplement or amendment to such prospectus so that, as thereafter deliverable to the purchasers of such Registrable Shares, such prospectus shall not contain any untrue statement of a material fact or omit a material fact necessary to make
the statements therein, in light of the circumstances under which they were made, not misleading; 
 (e) permit (i) any
selling Holder that, in such Holder’s reasonable judgment, may be deemed to be an underwriter or a controlling person of the Company (in each case, within the meaning of the Securities Act) and (ii) any selling Holder holding, or
representing Holders of, a majority of the Registrable Shares included in such Registration Statement, to participate in the preparation of such Registration Statement or related prospectus and reasonably incorporate any information about such
Holder furnished to the Company by such Holder that, in the reasonable judgment of the Company, should be included; 
 (f)
make reasonably available senior management of the Company, as selected by the Holders of a majority of the Registrable Shares included in such registration, to assist in the marketing of the Registrable Shares covered by such registration,
including the participation of such members of the Company’s senior management in road show presentations and other customary marketing activities, including “one on one” meetings with prospective purchasers of the Registrable Shares
to be sold in an Underwritten Registration and otherwise to facilitate, cooperate with, and participate in each proposed offering contemplated herein and customary selling efforts related thereto, in each case to the same extent as if the Company
were engaged in a primary registered offering of its capital stock; provided that such assistance does not unduly interfere with the normal operations of the Company in the ordinary course of business, consistent with past practice; 

 (g) otherwise use commercially reasonable efforts to comply with all applicable
rules and regulations of the SEC, including the Securities Act and the Exchange Act, and make generally available to the Company’s security holders an earnings statement satisfying the provisions of Section 11(a) of the Securities Act and
Rule 158 thereunder, as soon as reasonably practicable, but no later than thirty (30) days after the end of the twelve (12)-month period beginning with the first day of the Company’s first fiscal quarter commencing after the effective date
of a Registration Statement, which earnings statement shall cover said twelve (12)-month period; provided that such requirement shall be deemed satisfied if the Company timely files complete and accurate information on Forms 10-Q, 10-K and 8-K under
the Exchange Act as required thereby and otherwise complies with Rule 158 under the Securities Act; 
 (h) in the case of an
Underwritten Registration, if requested by the managing underwriters or any selling Holder, promptly incorporate in a prospectus supplement or post-effective amendment such information as the managing underwriters or such selling Holder reasonably
requests to be included therein, including with respect to the Registrable Shares being sold by such selling Holder, the purchase price being paid therefor by the underwriters and with respect to any other terms of the underwritten offering of the
Registrable Shares to be sold in such offering, and promptly make all required filings of such prospectus supplement or post-effective amendment; 

(i) cooperate with the selling Holders and the managing underwriters to facilitate the timely preparation and delivery of
certificates representing Registrable Shares sold under any Registration Statement, which certificates shall not bear any restrictive legends unless required under applicable law, and enable such Registrable Shares to be in such denominations and
registered in such names as the managing underwriters or such selling Holders may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such Registration Statement a supply of such
certificates; 
 (j) promptly make available for inspection by any selling Holder and any underwriter participating in any
disposition pursuant to any Registration Statement, and any attorney, accountant or other agent or representative retained by any such selling Holder or underwriter (collectively, the “Inspectors”), all financial and other records,
pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers,
directors, employees and independent accountants to supply all information reasonably requested by any such Inspector in connection with such Registration Statement; provided that, unless the disclosure of such Records is necessary to avoid
or correct a misstatement or omission in the Registration Statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be required to provide any information
under this subparagraph (j) if (i) the Company reasonably determines in good faith, after consultation with outside counsel, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such
information or (ii) if either (A) the Company has requested and been granted from the SEC confidential treatment of such information contained in any filing with the SEC or documents provided supplementally or otherwise or (B) the
Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing, unless prior to furnishing any such information with respect to clause (ii) such selling Holder requesting such
information agrees to enter into a confidentiality agreement in customary form and subject to customary exceptions; and provided, further that each selling Holder agrees that it shall, upon learning that disclosure of such Records is
sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential; 

 (k) furnish to each selling Holder and underwriter, if any, copies of (i) an
opinion or opinions of counsel to the Company and updates thereof covering the matters customarily covered in opinions requested in underwritten offerings and (ii) a comfort letter or comfort letters and updates thereof from the Company’s
independent public accountants, each in customary form and covering such matters of the type customarily covered by comfort letters to underwriters in connection with underwritten offerings; 

(l) cause the Registrable Shares included in any Registration Statement to be listed on each securities exchange or quotation
system, if any, on which similar securities issued by the Company are then listed or quoted; 
 (m) provide a transfer agent
and registrar for all Registrable Shares registered hereunder not later than the effective date of the Registration Statement related thereto; 

(n) use commercially reasonable efforts to cause Registrable Shares covered by such Registration Statement to be registered
with or approved by such other Governmental Authorities as may be necessary to enable the sellers thereof to consummate the disposition of such Registrable Shares; 

(o) notify each selling Holder promptly of any written comments by the SEC or any request by the SEC for the amending or
supplementing of such Registration Statement or prospectus or for additional information; 
 (p) if applicable, enter into an
underwriting agreement for such offering, such agreement to contain such representations and warranties by the Company and such other terms and provisions as are customarily contained in underwriting agreements with respect to that offering,
including indemnities and contribution to the effect and to the extent provided in Section 2.8 and the provision of opinion of counsel and accountants’ letters to the effect and to the extent provided in Section 2.5(k)
and enter into any other such customary agreements and take all such other actions as the Holders of a majority of the Registrable Shares covered by the Registration Statement or the underwriters, if any, reasonably request in order to expedite or
facilitate the disposition of such Registrable Shares. The selling Holders shall be parties to any such underwriting agreement, and the representations and warranties by, and the other agreements on the part of, the Company to and for the benefit of
such underwriters shall also be made to and for the benefit of such selling Holders; 

 (q) make every reasonable effort to prevent the entry of any order suspending the
effectiveness of the Registration Statement and, in the event of the issuance of any such stop order, or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any security included in such
Registration Statement for sale in any jurisdiction, the Company shall use commercially reasonable efforts promptly to obtain the withdrawal of such order; 

(r) provide a CUSIP number for all Registrable Shares not later than the effective date of the Registration Statement with
respect thereto; 
 (s) in connection with an Underwritten Registration, make such representations and warranties to the
selling Holders of such Registrable Shares and the underwriters with respect to the Registrable Shares and the Registration Statement as are customarily made by issuers to underwriters in primary underwritten offerings and deliver such documents and
certificates as may be reasonably requested by each seller of Registrable Shares covered by the Registration Statement and by the underwriters to evidence compliance with such representations and warranties and with any customary conditions
contained in the underwriting agreement or other agreement entered into by the Company; 
 (t) advise each selling Holder,
promptly after it shall receive notice or obtain knowledge thereof, of the issuance or threat of issuance of any stop order by the SEC suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceeding for
such purpose and promptly use commercially reasonable efforts to prevent the issuance of any stop order or to obtain its withdrawal at the earliest possible moment if such stop order should be issued; 

(u) upon request and subject to appropriate confidentiality obligations, furnish to each selling Holder copies of any and all
transmittal letters or other correspondence with the SEC or any other Governmental Authority relating to such offering of Registrable Shares; and 

(v) during the Effectiveness Period, refrain from bidding for or purchasing any Common Stock or any right to purchase Common
Stock or attempting to induce any person to purchase any such security or right if such bid, purchase or attempt would in any way limit the right of the Holders to sell Registrable Shares by reason of the limitations set forth in Regulation M of the
Exchange Act. 

 Section 2.6 Suspension of Dispositions. Each Holder agrees by acquisition of
any Registrable Shares that, upon receipt of any notice (a “Suspension Notice”) from the Company of the happening of any Material Disclosure Event, such Holder shall promptly discontinue such Holder’s disposition of Registrable
Shares until such Holder’s receipt of the copies of the supplemented or amended prospectus, or until it is advised in writing by the Company (the “Advice”) that the use of the prospectus may be resumed, and has received copies
of any additional or supplemental filings that are incorporated by reference in the prospectus, and, if so directed by the Company, such Holder shall deliver to the Company all copies, other than permanent file copies then in such Holder’s
possession, of the prospectus covering such Registrable Shares current at the time of receipt of such notice. In the event the Company shall give any Suspension Notice, the applicable Effectiveness Period relating to the disposition of such
Registrable Shares shall be extended by the number of days during the period from and including the date of the giving of the Suspension Notice to and including the date when each seller of Registrable Shares covered by such Registration Statement
shall have received the copies of the supplemented or amended prospectus or the Advice (such period, a “Suspension Period”). The Company shall use commercially reasonable efforts and take such actions as are reasonably necessary to
render the Advice as promptly as practicable and shall as promptly as practicable after the expiration of the Suspension Period prepare a post-effective amendment or supplement to the Registration Statement or the prospectus or any document
incorporated therein by reference, or file any required document so that, as thereafter delivered to purchasers of the Registrable Shares included therein, the prospectus will not include an untrue statement of a material fact or omit to state any
material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. Notwithstanding anything herein to the contrary, the Company shall not be entitled to more than two (2) Suspension
Periods during any consecutive twelve (12)-month period, which Suspension Periods shall have durations of not more than one hundred twenty (120) days in the aggregate; provided that a Suspension Period shall automatically expire upon the public
disclosure of the information to which the Material Disclosure Event relates. 
 Section 2.7 Registration Expenses.
Except as specifically set forth elsewhere in this Agreement, the Company shall pay all reasonable, out-of-pocket fees and expenses incident to any registration of the Registrable Shares hereunder, including all expenses incident to the
Company’s performance of or compliance with this Article 2, all registration and filing fees, all internal fees and expenses of the Company (including any allocation of salaries of employees of the Company or any of its Subsidiaries or other
general overhead expenses of the Company and its Subsidiaries or other expenses related to the preparation of financial statements or other data normally prepared by the Company and its Subsidiaries in the ordinary course of business and expenses of
its officers and employees performing legal or accounting duties), all fees and expenses associated with filings required to be made with any applicable Governmental Authority, as may be required by the rules and regulations of such Governmental
Authority, fees and expenses of compliance with securities or “blue sky” laws (including reasonable fees and disbursements of counsel in connection with “blue sky” qualifications of the Registrable Shares), rating agency fees,
printing expenses (including expenses of printing certificates for the Registrable Shares in a form eligible for deposit with Depository Trust Company and of printing prospectuses if the printing of prospectuses is requested by a Holder of
Registrable Shares), messenger, duplicating, distribution and delivery expenses, the expense of any annual audit or quarterly review, the expense of any liability insurance, the fees and expenses incurred in connection with any listing or quotation
of the Registrable Shares, fees and expenses of counsel for the Company and fees and expenses of its independent certified public accountants (including the expenses of any special audit or “cold comfort” letters required by or incident to
such performance), the fees and expenses of any special experts retained by the Company in connection with such registration and the reasonable fees and expenses of any one (1) counsel for all Holders participating in such registration shall be
paid for by the Company, which counsel shall be selected by the Holders of a majority of the Registrable Shares. Any underwriting discounts, commissions, fees or stock transfer taxes attributable to the sale of the Registrable Shares shall be borne
by the Holders pro rata on the basis of the number of shares so registered whether or not any Registration Statement becomes effective, and the fees and expenses of any counsel, accountants, or other persons retained or employed by any Holder
(other than as set forth in the preceding sentence) shall be borne by such Holder. 

 Section 2.8 Indemnification. 

(a) The Company agrees to indemnify and hold harmless, to the fullest extent permitted by applicable law, each seller of
Registrable Shares, its Affiliates and their respective employees, advisors, agents, representatives, successors, stockholders, partners, members, officers, and directors, each other Person who participates as an underwriter, broker or dealer in any
offering or sale of securities and each other Person who controls such seller or any such participating Person (within the meaning of the Securities Act or the Exchange Act) and any agent or investment advisor thereof (collectively, the
“Holder Covered Persons”) against, and reimburse, (i) any and all losses, claims, damages, liabilities and expenses, joint or several (including reasonable attorneys’ fees and disbursements, other than to the extent
limited by Section 2.8(c) and (d)), (x) based upon, arising out of, related to or resulting from any untrue or alleged untrue statement of a material fact contained in any Registration Statement or any amendment thereto, or
any document incorporated by reference therein, or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, and (y) based upon, arising out of, related to or
resulting from any untrue or alleged untrue statement of a material fact contained in any prospectus, preliminary prospectus, Disclosure Package or Issuer Free Writing Prospectus or any amendment or supplement thereto, or any document incorporated
by reference therein, or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading; (ii) any and all
losses, claims, damages, liabilities and expenses whatsoever, as incurred, to the extent of the aggregate amount paid in settlement of any litigation or investigation or proceeding by any governmental agency or body, commenced or threatened, or of
any claim whatsoever based upon, arising out of, related to or resulting from any such untrue statement or omission or alleged untrue statement or omission; and (iii) any and all costs and expenses (including reasonable fees and disbursements
of counsel) as may be reasonably incurred in investigating, preparing, or defending against any litigation, or investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon, arising out
of, related to or resulting from any such untrue statement or omission or alleged untrue statement or omission, or such violation of the Securities Act or the Exchange Act, to the extent that any such expense or cost is not paid under clauses
(i) or (ii) above; except (A) insofar as any such statements or omissions are caused by or contained in written information furnished to the Company by such seller or any Holder Covered Person specifically for inclusion in such
Registration Statement, prospectus, preliminary prospectus, Disclosure Package, Issuer Free Writing Prospectus, amendment or supplement thereto or (B) to the extent that any loss, claim, damage, liability or expense is incurred by a seller of
Registrable Shares as a result of selling such Registrable Shares during a Suspension Period. 

 (b) In connection with any Registration Statement or prospectus in which a seller
of Registrable Shares is participating pursuant to this Article 2, each such seller shall furnish to the Company such written information and affidavits regarding such seller, the Registrable Shares and the intended distribution thereof as
the Company reasonably requests for use in connection with any such Registration Statement or prospectus and as shall be reasonably required in connection with any registration, qualification or compliance required in connection with this Article
2 and, to the fullest extent permitted by applicable law, each such seller shall indemnify the Company, and its officers and directors and each other Person who controls the Company (within the meaning of the Securities Act or the Exchange Act)
and any of its or their respective officers, directors, employees, agents, representatives, successors, members, stockholders and partners (the “Company Covered Persons”) against any and all losses, claims, damages, liabilities and
expenses, joint or several (including reasonable attorneys’ fees and disbursements, other than to the extent limited by Section 2.8(c) and (d)), (x) based upon, arising out of, related to or resulting from any untrue or
alleged untrue statement of a material fact contained in any Registration Statement or any amendment thereto, or any document incorporated by reference therein, or any omission or alleged omission of a material fact required to be stated therein or
necessary to make the statements therein not misleading, and (y) based upon, arising out of, related to or resulting from any untrue or alleged untrue statement of a material fact contained in any prospectus, preliminary prospectus, Disclosure
Package or Issuer Free Writing Prospectus or any amendment or supplement thereto, or any document incorporated by reference therein, or any omission or alleged omission of a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances in which they were made, not misleading, but, in the case of either (x) or (y), only to the extent that such untrue statement or alleged untrue statement or omission or alleged omission is
contained in any written information furnished by such seller or any Holder Covered Person specifically stating that it has been provided for inclusion in such Registration Statement, prospectus, preliminary prospectus, Disclosure Package or Issuer
Free Writing Prospectus or amendment or supplement thereto, or document incorporated by reference therein; provided that the obligation to indemnify shall be several, not joint and several, among such sellers of Registrable Shares, and the
liability of each such seller of Registrable Shares shall be in proportion to, and shall be limited to, the net amount of proceeds received by such seller from the sale of Registrable Shares pursuant to such Registration Statement. 

(c) Any Person entitled to indemnification hereunder shall (i) give prompt written notice to the indemnifying party of any
claim with respect to which it seeks indemnification; provided that the failure to give such notice shall not limit the rights of such Person or relieve the indemnifying party from any liability that it may have under subsection (a) and
(b) above unless and only to the extent that failure to give such notice materially prejudices the indemnifying party; and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and
any indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided that any person entitled to
indemnification hereunder shall have the right to employ separate counsel and to participate in the defense of such claim at the expense of such indemnified person, unless (x) the indemnifying party has agreed to pay such fees or expenses or
(y) the indemnifying party shall have failed to assume the defense of such claim and employ counsel reasonably satisfactory to such person. If such defense is not assumed by the indemnifying party when permitted hereunder, the indemnified party
shall be entitled to assume and control such defense and to settle and agree to pay in full such claim without the consent of the indemnifying party without prejudice to the ability of the indemnified party to enforce its claim for indemnification
against the indemnifying party hereunder. 

 (d) Except as otherwise provided in the preceding paragraph, the indemnifying
party shall not be subject to any liability for any settlement made by the indemnified party without its consent, which consent shall not be unreasonably withheld or delayed. If such defense is assumed by the indemnifying party pursuant to the
provisions hereof, such indemnifying party shall not settle or otherwise compromise the applicable claim (i) unless (A) such settlement or compromise contains a full and unconditional release of the indemnified party and (B) such
settlement or compromise does not include any statement as to, or any admission of, fault, culpability or a failure to act by or on behalf of the indemnified party or (ii) if such settlement or compromise provides for injunctive or other
non-monetary relief, in each case, unless the indemnified party otherwise consents in writing. An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more
than one (1) counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party, a conflict of interest may exist between such indemnified party and any other of
such indemnified parties with respect to such claim, in which event the indemnifying party shall be obligated to pay the reasonable fees and disbursements of such additional counsel or counsels. 

(e) Each party hereto agrees that, if for any reason the indemnification provisions contemplated by Section 2.8(a)
or Section 2.8(b) are unavailable or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities or expenses (or actions in respect thereof) referred to therein, then each indemnifying party
shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities or expenses (or actions in respect thereof) (i) in such proportion as is appropriate to reflect the relative
benefits received by the indemnifying party and the indemnified party from the offering of Registrable Shares (taking into account the portion of the proceeds of the offering realized by each such party, or (ii) if the allocation provided by
clause (i) is not permitted by applicable law, or provides a lesser sum to the indemnified party than the amount hereinafter calculated in this clause (ii), in such proportion as is appropriate not only to reflect the relative benefits referred
to in clause (i), but also the relative fault of the indemnifying party and the indemnified party, respectively, in connection with the actions or omissions that resulted in the losses, claims, damages, liabilities or expenses, as well as any other
relevant equitable considerations. The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged
omission to state a material fact relates to information supplied by such indemnifying 

 
party or indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that
it would not be just and equitable if contribution pursuant to this Section 2.8(e) were determined by pro rata allocation (even if the Holders or any underwriters or all of them were treated as one (1) entity for such
purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in this Section 2.8(e). The amount paid or payable by an indemnified party as a result of the losses, claims, damages,
liabilities or expenses (or actions in respect thereof) referred to above shall be deemed to include (subject to any limitation set forth thereon) any legal or other fees or expenses reasonably incurred by such indemnified party in connection with
investigating or, except as provided in Section 2.8(c) and (d), defending any such action, proceeding or claim. Notwithstanding the provisions of this Section 2.8(e), no Holder shall be required to contribute an amount
greater than the dollar amount by which the net proceeds received by such Holder with respect to the sale of any Registrable Shares exceeds the amount of damages that such Holder has otherwise been required to pay by reason of any and all untrue or
alleged untrue statements of material fact or omissions or alleged omissions of material fact made in any Registration Statement, prospectus or preliminary prospectus or any amendment or supplement thereto, or any document incorporated by reference
therein, related to such sale of Registrable Shares. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. The Holders’ obligations in this Section 2.8(e) to contribute shall be several in proportion to the amount of Registrable Shares registered by them and not joint and several. If indemnification is
available under this Section 2.8, the indemnifying parties shall indemnify each indemnified party to the fullest extent provided in Section 2.8(a) and Section 2.8(b) without regard to the relative fault of said
indemnifying party or indemnified party or any other equitable consideration provided for in this Section 2.8(e) subject, in the case of the Holders, to the limits set forth in Section 2.8(b). 

(f) The indemnification and contribution provided for under this Agreement shall remain in full force and effect regardless of
any investigation made by or on behalf of the indemnified party or any officer, director, or controlling Person of such indemnified party and shall survive the transfer of securities and the termination of this Agreement. The provisions of this
Section 2.8 shall be in addition to any other rights to indemnification or contribution which an indemnified party may have pursuant to law, equity, contract or otherwise. 

(g) As used in this Section 2.8, the terms “officers” and “directors” shall
include the direct or indirect partners, members or managers of Holders of Registrable Shares that are partnerships or limited liability companies, as the case may be. 

 Section 2.9 Transfer of Registration Rights. Provided that the Company is
given prompt written notice by the Holder of Registrable Shares of any transfer of Registrable Shares by such Holder of Registrable Shares stating the name and address of the transferee of such Registrable Shares and identifying the securities with
respect to which the rights under this Article 2 are being assigned, the rights of such Holder of Registrable Shares under this Article 2 may be transferred in whole or in part at any time to any such transferee, so long as such transfer of
securities is in accordance with all applicable state and federal securities laws and regulations, with the Company’s Amended and Restated Certificate of Incorporation (as the same may be amended from time to time), with this Agreement and the
provisions of any other instruments executed by and among each of the parties hereto (including the Common Stock Purchase Agreement), and such transferee agrees in writing to be bound by the terms of this Agreement by executing and delivering a
Joinder Agreement in the form of Exhibit A hereto (the “Joinder Agreement”). The Company shall be responsible for the expenses of registration in accordance with Section 2.7 of any transferee or assignee pursuant to this
Section 2.9 to the same extent as the original transferor. 
 Section 2.10 Rule 144. The Company shall timely file
(taking into account all valid extensions) the reports required to be filed by it under the Securities Act and the Exchange Act (or, if the Company is not required to file such reports, shall, upon the request of the Holders, make publicly available
information substantially similar to the type of information that would be required if the Company was subject to rules under the Securities Act and the Exchange Act) and shall use commercially reasonable efforts to take such further action as the
Holders may reasonably request, in each case to the extent required from time to time to enable the Holders to sell Common Stock without registration under the Securities Act within the limitation of the exemptions provided by Rule 144. Upon the
reasonable request of any Holder, the Company shall deliver to such parties a written statement as to whether it has complied with such requirements, a copy of the most recent annual or quarterly report of the Company, and such other reports and
documents so filed by the Company as may be reasonably requested by any Holder in availing itself of any rule or regulation of the SEC permitting the selling of any the securities without registration and shall, at its expense, forthwith upon the
request of any such Holder, deliver to such Holder a certificate, signed by the Company’s principal financial officer, stating (a) the Company’s name, address and telephone number (including area code), (b) the Company’s
Internal Revenue Service identification number, (c) the Company’s SEC file number, (d) the number of shares of each class of capital stock outstanding as shown by the most recent report or statement published by the Company, and
(e) whether the Company has filed the reports required to be filed under the Exchange Act for a period of at least ninety (90) days prior to the date of such certificate and has filed the most recent annual report required to be filed
thereunder. 
 Section 2.11 Preservation of Rights. 

(a) Notwithstanding anything herein to the contrary, the registration rights contemplated hereby will not be more favorable in
any material respect than or otherwise inconsistent with the registration rights granted to the “Holders” under the Company’s Registration Rights Agreement dated August 31, 2012 and such “Holders” shall be treated
pari passu or with priority with respect to the Holders hereunder and have priority over the Holders hereunder. 
 (b)
From and after the date of this Agreement, the Company shall not (a) enter into any agreement with any Holder or prospective holder of any securities of the Company providing for the granting to the holder of registration rights that are more
favorable in any material respect than or are otherwise inconsistent with the rights granted hereunder and which does not expressly provide that the Holders in this Agreement shall be treated pari passu or with priority with respect to such
other holders have priority over such new holders of securities of the Company in any subsequent registration statement or (b) with respect to its securities, enter into any agreement or arrangement, take any action, or permit any change to
occur that violates or subordinates the rights expressly granted to the Holders in this Agreement. 

 Section 2.12 Applicability of Rights to Holders in the Event of an
Acquisition. In the event the Company merges into, consolidates with, sells substantially all of its assets to or otherwise becomes an Affiliate of a Person pursuant to a transaction or series of related transactions in which Holders or the
respective members, partners or shareholders, as applicable, of the Holders receive equity securities of such Person (or of any Affiliate of such Person) in exchange for shares of Common Stock held by such Holders, all of the rights of the Holders
set forth in this Agreement shall continue in full force and effect and shall apply to the Person the equity securities of which are received by such Holders pursuant to such transaction or series of related transactions. The Company agrees that the
Company shall not enter into any agreement that has the effect set forth in the first clause of the preceding sentence unless such Person agrees to be bound by the foregoing provision. 

Section 2.13 Deemed Underwriters. To the extent that, in connection with a registration of any of the Registrable Shares
under the Securities Act pursuant to Section 2.1, any selling Holder is deemed to be an underwriter of Registrable Shares pursuant to any SEC comments or policies, the Company agrees that (1) the indemnification and contribution provisions
contained in Section 2.8 shall be applicable to the benefit of such selling Holder in its role as deemed underwriter in addition to its capacity as Holder and (2) such selling Holder shall be entitled to conduct the due diligence which it
would normally conduct in connection with an offering of securities registered under the Securities Act, including receipt of customary opinions and comfort letters. 

Section 2.14 Cooperation by Holders. Each selling Holder agrees to furnish to the Company a completed questionnaire
(a “Selling Securityholder Questionnaire”) not later than five (5) Business Days following the date on which such Holder receives the form of Selling Securityholder Questionnaire with respect to any Registration Statement. A
Holder shall provide to the Company all such information, including information regarding such Holder and the distribution proposed by such Holder, and all such materials, including a Selling Securityholder Questionnaire and updates thereto, as may
be requested, and take all such action, in each case as may be required or reasonably requested in order to permit the Company to comply with all applicable requirements of the Securities Act, the Exchange Act and any applicable regulatory or
self-regulatory authority and the obligations and requirements of this Agreement, such provision of information and materials to be a condition precedent to the obligations of the Company pursuant to this Agreement to register the Registrable Shares
held by such Holder. 

 ARTICLE III  

TERMINATION 

Section 3.1 Termination. The registration rights granted by this Agreement shall terminate upon the earlier to occur of the
following (a) the Holders have sold all of the Registrable Shares, (b) all of the Registrable Shares covered by a Registration Statement may be sold by the Holders without volume restrictions pursuant to Rule 144 of the Securities Act or
(c) the third anniversary of the effective date of the Registration Statement. This Agreement may be terminated at any time by the written agreement of holders of at least 75% of all Registrable Shares then outstanding. 

ARTICLE IV  

MISCELLANEOUS 

Section 4.1 Whole Agreement. This Agreement, together with the Commitment Letter and the Common Stock Purchase
Agreement, constitute the entire agreement among the parties hereto and thereto with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, both oral and written, between the parties with respect to
the subject matter hereof and thereof (other than the non-disclosure and confidentiality agreements, if any, between the Company and the Holders signed in anticipation of an equity financing in the Company); provided, that in the event of any
conflict or ambiguity between the terms of the Commitment Letter and the terms of this Agreement, the terms of this Agreement shall control. 

Section 4.2 Successors and Assigns. Except as otherwise provided herein, no party hereto may assign, directly or
indirectly, by operation of law or otherwise, any of its respective rights or delegate any of its responsibilities, liabilities or obligations under this Agreement, without the prior written consent of each other party hereto. 

Section 4.3 Amendment and Waiver. Except as otherwise provided herein and other than as a result of the execution and
delivery of a Joinder Agreement, no amendment, alteration or modification of this Agreement or waiver of any provision of this Agreement shall be effective against the Company or the Holders unless such amendment, alteration, modification or waiver
is approved in writing by the Company and the Holders of a majority of the Registrable Shares; provided, however, that no amendment, alteration, modification or waiver of the rights of any Holder may be made without such Holder’s prior written
consent if such amendment, alteration, modification or waiver would have an Adverse Effect on such Holder’s rights under this Agreement. The failure of any party to enforce any provision of this Agreement shall not be construed as a waiver of
such provision and shall not affect the right of such party thereafter to enforce each provision of this Agreement in accordance with its terms. 

 Section 4.4 Severability. If any provision of this Agreement, including any
phrase, sentence, clause, Section or subsection, is inoperative or unenforceable for any reason, such circumstances shall not have the effect of rendering the provision in question inoperative or unenforceable in any other case or circumstance, or
of rendering any other provision or provisions herein contained invalid, inoperative, or unenforceable to any extent whatsoever. If any provision of this Agreement shall be adjudged to be excessively broad as to duration, geographical scope,
activity or subject, the parties hereto intend that such provision shall be deemed modified to the minimum degree necessary to make such provision valid and enforceable under applicable law and that such modified provision shall thereafter be
enforced to the fullest extent possible. 
 Section 4.5 Remedies. The Parties agree that money damages or another remedy
at law would not be a sufficient or adequate remedy for any breach or violation of, or a default under, this Agreement by them and that, in addition to all other remedies available to them, each of them shall be entitled to an injunction restraining
such breach, violation or default or threatened breach, violation or default and to any other equitable relief including specific performance without bond or other security being required. 

Section 4.6 No Third Party Beneficiaries. Nothing in this Agreement, express or implied, is intended or shall be construed
to give any person other than the Parties (including any permitted transferees that hereafter become Parties in accordance with Section 2.9) to this Agreement, or any of their respective successors and permitted assigns any legal or equitable
right, remedy or claim under or in respect of any agreement or provision contained herein. 
 Section 4.7 Counterparts.
This Agreement may be executed in several counterparts (including by facsimile, .pdf or other electronic transmission), each of which shall be deemed an original and all of which shall together constitute one and the same instrument. 

Section 4.8 Notices 

(a) Any notice or other communication in connection with this Agreement (each, a “Notice”) shall be: 

 

	 	(i)	in writing in English; and 

  

	 	(ii)	delivered by hand, fax, email or other electronic transmission, registered post or by courier using a nationally recognized overnight delivery or courier company. 

(b) Notices to the Company shall be sent to at the following address, or such other person or address as the Company may notify to the
stockholders from time to time: 
  

	 	•	 	Par Petroleum Corporation 

  

	 	•	 	800 Gessner Road, Suite 875 

  

	 	•	 	Houston, Texas 77024 

  

	 	•	 	Facsimile: (832) 565-1207 

  

	 	•	 	Attention: Brice Tarzwell 

  

	 	•	 	Email: btarzwell@txnenergy.com 

  

	 	•	 	                     

	 	•	 	with copies to: 

  

	 	•	 	                     

  

	 	•	 	Porter Hedges LLP 

  

	 	•	 	1000 Main Street, 36th Floor 

  

	 	•	 	Houston, Texas 77002 

  

	 	•	 	Facsimile: (713) 228-1331 

  

	 	•	 	Attention: E. James Cowen 

  

	 	•	 	E-mail: jcowen@porterhedges.com 

  

	 	•	 	                     

  

	 	•	 	Neal, Gerber & Eisenberg LLP 

  

	 	•	 	2 N. LaSalle Street, Suite 1700 

  

	 	•	 	Chicago, Illinois 60602 

  

	 	•	 	Facsimile: (312) 578-1796 

  

	 	•	 	Attention: David S. Stone 

  

	 	•	 	E-mail: dstone@ngelaw.com 

 (c) Notices to the Holders shall be sent to such Holders at the
addresses set forth on each Holder’s signature page hereto or as provided on any Joinder Signature Page, as applicable, or such other addresses as the applicable Holder may notify the Company in writing from time to time in accordance with this
Section 4.8. 
 (d) A Notice shall be effective upon receipt and shall be deemed to have been received: 

(i) at the time of delivery, if delivered by hand, registered post or courier; and 

(ii) at the expiration of two (2) hours after completion of the transmission, if sent by electronic transmission; 

provided that if a Notice would become effective under the above provisions after 5:30 p.m. on any Business Day, then it shall be deemed instead to
become effective at 9:30 a.m. on the next Business Day. References in this Agreement to time are to local time at the location of the addressee as set out in the Notice. 

(e) Subject to the foregoing provisions of this Section 4.8, in proving service of a Notice, it shall be sufficient to prove that
the envelope containing such Notice was properly addressed and delivered by hand, registered post, overnight delivery service or courier to the relevant address pursuant to the above provisions or that the electronic transmission report (call back
verification) states that the communication was properly sent or an e-mail was timely and properly sent attaching a copy of the subject notice as a .pdf. 

Section 4.9 Governing Law and Venue; Waiver of Jury Trial 

THIS AGREEMENT AND ALL DISPUTES BETWEEN THE PARTIES UNDER OR RELATING TO THIS AGREEMENT OR THE FACTS AND CIRCUMSTANCES LEADING TO ITS EXECUTION
AND DELIVERY, WHETHER IN CONTRACT, TORT OR OTHERWISE, WILL BE GOVERNED BY AND INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT GIVING EFFECT TO CONFLICTS OF LAWS PRINCIPLES THAT WOULD RESULT IN THE APPLICATION
OF THE LAW OF ANY OTHER STATE. 

 ANY ACTION, SUIT OR PROCEEDING SEEKING TO ENFORCE ANY PROVISION OF, OR BASED ON
ANY MATTER ARISING OUT OF OR IN CONNECTION WITH, THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY SHALL ONLY BE BROUGHT IN ANY FEDERAL COURT LOCATED IN THE STATE OF DELAWARE OR ANY DELAWARE STATE COURT, AND EACH PARTY CONSENTS TO THE EXCLUSIVE
JURISDICTION AND VENUE OF SUCH COURTS (AND OF THE APPROPRIATE APPELLATE COURTS THEREFROM) IN ANY SUCH ACTION, SUIT OR PROCEEDING AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE
LAYING OF THE VENUE OF ANY SUCH, ACTION, SUIT OR PROCEEDING IN ANY SUCH COURT OR THAT ANY SUCH ACTION, SUIT OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM; PROVIDED, HOWEVER, THAT ANY ACTION, SUIT OR PROCEEDING,
SEEKING TO ENFORCE A FINAL JUDGMENT RENDERED IN SUCH COURT MAY BE BROUGHT IN ANY COURT OF COMPETENT JURISDICTION. PROCESS IN ANY SUCH ACTION, SUIT OR PROCEEDING MAY BE SERVED ON ANY PARTY ANYWHERE IN THE WORLD, WHETHER WITHIN OR WITHOUT THE
JURISDICTION OF ANY SUCH COURT. WITHOUT LIMITING THE FOREGOING, SERVICE OF PROCESS ON SUCH PARTY AS PROVIDED IN SECTION 4.8 SHALL BE DEEMED EFFECTIVE SERVICE OF PROCESS ON SUCH PARTY. 

EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE OUT OF OR RELATING TO THIS AGREEMENT IS LIKELY TO
INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY EXPRESSLY, IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION OR DISPUTE DIRECTLY OR INDIRECTLY BASED
UPON OR ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER AGREEMENTS RELATING HERETO OR ANY DEALINGS AMONG THEM RELATING TO THE TRANSACTIONS CONTEMPLATED HEREBY. THE SCOPE OF THIS WAIVER IS INTENDED TO ENCOMPASS ANY AND ALL ACTIONS, SUITS
AND PROCEEDINGS THAT RELATE TO THE SUBJECT MATTER OF THE TRANSACTIONS CONTEMPLATED HEREBY, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY REPRESENTS AND ACKNOWLEDGES THAT
(i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ACTION, SUIT OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) SUCH PARTY
UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY AND (iv) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND REPRESENTATIONS
IN THIS SECTION 4.9. IN THE EVENT OF LITIGATION THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 

 Section 4.10 Independent Nature of Each Holder’s Obligations and Rights.
The obligations of each Holder under this Agreement are several and not joint with the obligations of any other Holder, and each Holder shall not be responsible in any way for the performance of the obligations of any other Holder under this
Agreement. Nothing contained herein and no action taken by any Holder pursuant hereto, shall be deemed to constitute such Holders as a partnership, an association, a joint venture, or any other kind of entity, or create a presumption that the
Holders are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement. Each Holder shall be entitled to independently protect and enforce its rights, including the rights arising
out of this Agreement, and it shall not be necessary for any other Holder to be joined as an additional party in any proceeding for such purpose. 

(This space intentionally left blank) 

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

			
	PAR PETROLEUM CORPORATION
		
	By:	 	  

	Name:	 	R. Seth Bullock
	Title:	 	Chief Financial Officer

  
 [Signature Page to
Registration Rights Agreement] 

 Counterpart Signature Page 

 

									
	FOR ENTITY INVESTORS:	 		 	FOR INDIVIDUAL INVESTORS:
				
	  
	 		 	Signature:	 	  

	[Name of Entity]	 		 	Name:	 	  

	By:	 	  
	 		 		 	
	Name:	 	  
	 		 		 	
	Title:	 	  
	 		 		 	
	Taxpayer ID #:	 	  
	 		 		 	

  

									
	ADDRESS FOR NOTICE:	 		 	
				
	  
	 		 		 	
	  
	 		 		 	
	Attention: 	 	  
	 		 		 	
	Tel:	 	  
	 		 		 	
	Fax:	 	  
	 		 		 	
	E-mail	 	  
	 		 		 	
				
	With a copy to:	 		 		 	
				
	  
	 		 		 	
	  
	 		 		 	
	  
	 		 		 	
	Attention:	 	  
	 		 		 	
	Tel:	 	  
	 		 		 	
	Fax:	 	  
	 		 		 	
	E-mail:	 	  
	 		 		 	

  
 [Signature Page to
Registration Rights Agreement] 

 EXHIBIT A 

JOINDER SIGNATURE PAGE 

The undersigned hereby (i) joins as a “Holder” in the Registration Rights Agreement, dated as of
            , 2013 (as the same shall be amended from time to time), by and among the parties set forth on the signature page thereto and any other signatories added thereafter (the
“Registration Rights Agreement”), (ii) authorizes this signature page to be attached as a counterpart of such Registration Rights Agreement, and (iii) agrees to be bound by, and shall be entitled to the benefits of, such
Registration Rights Agreement. 
  

			
	Dated:	 	  

	Name	 	  

	Address	 	  

	  

 Signature 

  
 Exhibit A 

 Exhibit B 

PAR PETROLEUM CORPORATION 

Officer’s Certificate 
 Pursuant to
Section 6.2(c) of the Common Stock Purchase Agreement, dated as of September 10, 2013 (the “Purchase Agreement”) by and among Par Petroleum Corporation, a Delaware corporation (the “Company”), and each of
the Purchasers named in Schedule 2.1 to the Purchase Agreement relating to the issuance and sale by the Company to the Purchasers of an aggregate of 143,884,892 shares of Common Stock, the undersigned hereby certifies on behalf of the Company
as follows: 
 (A) The Company has performed and complied in all material respects with the covenants and agreements contained in the Purchase Agreement that
are required to be performed and complied with by the Company on or prior to the date hereof. 
 (B) The representations and warranties of the Company
contained in the Purchase Agreement that are qualified by materiality or Company Material Adverse Effect (as defined in the Purchase Agreement) are true and correct in all respects as written as of the date of the Purchase Agreement and as of the
date hereof, and all other representations and warranties are true and correct in all material respects as of the date of the Purchase Agreement and as of the date hereof, except that representations and warranties made as of a specific date are
true and correct in all material respects as of such date only. 
 (C) Since the date of the Purchase Agreement, no Company Material Adverse Effect has
occurred and is continuing. 
 Dated: [•], 2013 
  

			
	 PAR PETROLEUM CORPORATION

		
	 By:
	 	  

	 Name: 
	 	 
	 Title:
	 	 

  
 Exhibit B 

 Exhibit C 

PURCHASERS’ 

Officer’s Certificate 
 Pursuant to
Section 6.3(b) of the Common Stock Purchase Agreement, dated as of September 10, 2013 (the “Purchase Agreement”), by and among Par Petroleum Corporation, a Delaware corporation (the “Company”), and each of
the Purchasers named in Schedule 2.1 to the Purchase Agreement relating to the issuance and sale by the Company to the Purchasers of an aggregate of 143,884,892 shares of Common Stock, each of the undersigned hereby certifies solely on behalf
of itself as follows: 
 (A) Such Purchaser has performed and complied in all material respects with the covenants and agreements contained in the Purchase
Agreement that are required to be performed and complied with by such Purchaser on or prior to the date hereof. 
 (B) The representations and warranties of
such Purchaser contained in the Purchase Agreement that are qualified by materiality or Purchaser Material Adverse Effect (as defined in the Purchase Agreement) are true and correct in all respects as written as of the date of the Purchase Agreement
and as of the date hereof, and all other representations and warranties are true and correct in all material respects as of the date of the Purchase Agreement and as of the date hereof, except that representations and warranties made as of a
specific date are true and correct in all material respects as of such date only. 
 (C) Since the date of the Purchase Agreement, no Purchaser Material
Adverse Effect has occurred and is continuing. 
 Dated: [•], 2013 

 

			
	 [PURCHASER]

		
	 By:
	 	  

	 Name: 
	 	 
	 Title:
	 	 

  
 Exhibit C 

 Exhibit D 

PAR PETROLEUM CORPORATION 

SECRETARY’S CERTIFICATE 

[•], 2013 
 Reference is made to that
certain Common Stock Purchase Agreement, dated as of September 10, 2013, by and among Par Petroleum Corporation, a Delaware corporation (the “Company”) and the Purchasers party thereto (the “Purchase
Agreement”). Terms that are defined in the Purchase Agreement and that are used but not defined herein have the respective meanings given to them in the Purchase Agreement. I,
            , hereby certify that I am the duly elected, qualified and acting             of the Company; and that as such I am
familiar with the facts herein certified and am authorized to certify the same and do further certify, in such capacity, that: 
 1. Attached hereto as
Exhibit 1 is a true, correct and complete copy of the Amended and Restated Certificate of Incorporation of the Company (including all amendments, if any, thereto), certified by the Secretary of State of the State of Delaware, as in effect on
[•], 2013 and at all times thereafter to and including the date hereof (the “Certification of Incorporation”). No other amendments to such Certificate of Incorporation have been authorized by the members or Board of Directors of the
Company and such Certificate of Incorporation is in full force and effect as of the date hereof. 
 2. No proceedings have been instituted or are pending,
or, to the best of my knowledge, are contemplated, for the dissolution or liquidation of the Company or that would threaten its corporate existence or forfeit its limited corporate rights or franchises. 

3. Attached hereto as Exhibit 2 is a true, correct and complete copy of resolutions duly and validly adopted by the Board of Directors of the Company at
a meeting on [•], 2013, a copy of which has been duly filed with the minutes of the proceedings of such Board of Directors. Such resolutions have not been modified, amended, rescinded or revoked, and the same are in full force and effect on the
date hereof and are within the power of the Board of Directors to pass as provided in the Certification of Incorporation. 
 IN WITNESS WHEREOF, the
undersigned has executed this certificate as of the date first set forth above. 
  

			
	 PAR PETROLEUM CORPORATION

		
	 By:
	 	 
	 Name: 
	 	 
	 Title:
	 	 

  
 Exhibit D 

 Exhibit E 

PAR PETROLEUM CORPORATION 

Cross Receipt 
 Par Petroleum Corporation
(the “Company”) hereby acknowledges receipt from the Purchasers (as defined in the Purchase Agreement) of a wire transfer to the Company’s account (Account No. [•]) with [•] (Routing No. [•])
in the amount of $[•] as full payment for the [•] shares of the Company’s Common Stock purchased by the Purchasers pursuant to that certain Common Stock Purchase Agreement, dated as of September 10, 2013 (the
“Purchase Agreement”), by and among the Company and the Purchasers. 
  

							
	 Dated: [•], 2013
	 		 	PAR PETROLEUM CORPORATION
				
		 		 	By:	 	 
		 		 	Name: 	 	 
		 		 	Title:	 	 

  
 Exhibit E 

 [PURCHASER] 

CROSS RECEIPT 
 The undersigned, pursuant
to that certain Common Stock Purchase Agreement, dated as of September 10, 2013 (the “Purchase Agreement”), by and among Par Petroleum Corporation (the “Company”) and the purchasers named therein, hereby
acknowledges receipt of [•] shares of the Company’s Common Stock purchased by it pursuant to the Purchase Agreement. 
  

							
	Dated: [•], 2013	 		 	[PURCHASER]
				
		 		 	By:	 	 
		 		 	Name: 	 	 
		 		 	Title:	 	 

  
 Exhibit E

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