Document:

EX-10.2

 Exhibit 10.2 

 
  

 
 SUBSERVICING SUPPLEMENT

 dated as of March 13, 2013 
 between 
 OCWEN LOAN SERVICING, LLC 

and 

HLSS HOLDINGS, LLC 
  

 
  

 CONTENTS 

 

					
	Clause	  	Page	 
	 ARTICLE I. DEFINITIONS
	  	 	1	  
	 1.1 Definitions
	  	 	1	  
	 ARTICLE II. SUBSERVICING
	  	 	3	  
	 2.1 Engagement as Subservicer
	  	 	3	  
	 2.2 Servicing Transfer Procedures
	  	 	3	  
	 2.3 Reference to Master Subservicing Agreement
	  	 	3	  
	 ARTICLE III. SERVICING FEES
	  	 	3	  
	 3.1 Base Subservicing Fee
	  	 	3	  
	 3.2 Performance Fee
	  	 	4	  
	 ARTICLE IV. MISCELLANEOUS
	  	 	4	  
	 4.1 Incorporation
	  	 	4	  
	 4.2 Third Party Beneficiaries
	  	 	4	  

  

			
	 SCHEDULE I     Servicing Agreements
	 	
	 SCHEDULE II     Retained Servicing Fee Percentage
	 	
	 SCHEDULE III   Target Ratio Schedule
	 	

 SUBSERVICING SUPPLEMENT 

This SUBSERVICING SUPPLEMENT, dated as of March 13, 2013 (this “Subservicing Supplement”), is by and between HLSS
HOLDINGS, LLC, a Delaware limited liability company (“Servicer”), and OCWEN LOAN SERVICING, LLC, a Delaware limited liability company (“Ocwen”). 

RECITALS: 

WHEREAS, as of the applicable Servicing Transfer Date (as defined herein), Servicer will become the servicer of certain Mortgage Loans
(as defined in the Master Subservicing Agreement) pursuant to the terms of those certain pooling and servicing agreements or other servicing agreements listed in Schedule I hereto; and 

WHEREAS, Servicer and Ocwen are parties to that certain Master Subservicing Agreement dated as of October 1, 2012 (the
“Master Subservicing Agreement”); and 
 WHEREAS, Servicer desires to engage Ocwen to act as subservicer with
respect to the Mortgage Loans relating to those pooling and servicing agreements or other servicing agreements listed in Schedule I hereto, as of the applicable Servicing Transfer Date (as defined herein), and Ocwen desires to act as
subservicer with respect to the Mortgage Loans relating to those pooling and servicing agreements or other servicing agreements, on the terms set forth in the Master Subservicing Agreement, as supplemented by this Subservicing Supplement.

 NOW, THEREFORE, in consideration of the premises and mutual agreements hereinafter set forth and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, Servicer and Ocwen agree as follows: 
 ARTICLE I. 
 DEFINITIONS. 

1.1 Definitions. (a) For purposes of this Subservicing Supplement, the following capitalized terms shall have the respective
meanings set forth or referenced below. 
 “Base Subservicing Fee” has the meaning set forth in
Section 3.1. 
 “Deferred Servicing Agreement” has the meaning set forth in the Sale Supplement.

 “Excess Servicing Advances” shall mean, for any calendar month, the amount, if any, by which the outstanding
Servicing Advances with respect to the Servicing Agreements as of the last day of such calendar month exceeds an amount equal to (a) the Target Ratio for such calendar month multiplied by (b) the unpaid principal balance of the Mortgage
Loans subject to the Servicing Agreements as of the last day of such calendar month. 

  
 Subservicing
Supplement 
 1 

 “Monthly Servicing Fee” shall mean, for each calendar month, the sum of the
Base Subservicing Fee for such calendar month and the Seller Monthly Servicing Fee (as defined in the Sale Supplement) for such calendar month. 
 “Performance Fee” has the meaning set forth in Section 3.2. 
 “Retained Servicing Fee” shall mean, for any calendar month, an amount equal to the sum of (a) the product of the Retained Servicing Fee Percentage for such calendar month and the
average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing Agreements and the Deferred Servicing Agreements during such calendar month, and (b) the Retained Servicing Fee Shortfall, if any, for the immediately prior
calendar month. 
 “Retained Servicing Fee Percentage” shall mean, for any calendar month, the percentage set
forth on Schedule II to this Subservicing Supplement. 
 “Retained Servicing Fee Shortfall” shall mean,
for any calendar month, beginning in March 2013, an amount equal to the excess, if any, of (a) the Retained Servicing Fee for such calendar month over (b) the excess, if any, of (x) the aggregate Servicing Fees actually received by
Servicer pursuant to the Subject Servicing Agreements and with respect to the Deferred Servicing Agreements during such calendar month (whether directly pursuant to such Subject Servicing Agreement or pursuant to Sale Supplement, as applicable) over
(y) the Monthly Servicing Fee for such calendar month. 
 “Sale Supplement” shall mean that certain Sale
Supplement, dated as of the date hereof, between Servicer and Home Loan Servicing Solutions, Ltd., as Purchasers, and Ocwen, as Seller, as the same may be amended, supplemented or otherwise modified from time to time. 

“Scheduled Termination Date” means, with respect to each Subject Servicing Agreement serviced pursuant to this
Subservicing Supplement, the date which is six (6) years after the closing date of the initial acquisition of assets pursuant to the Sale Supplement. 
 “Servicing Agreement” shall mean each of the pooling and servicing agreements or other servicing agreements listed in Schedule I hereto. 

“Servicing Fees” shall mean, with respect to any Servicing Agreement, the servicing fees payable to Servicer and Home
Loan Servicing Solutions, Ltd. under the Sale Supplement and the Subject Servicing Agreements, including each “servicing fee” payable based on a percentage of the outstanding principal balance of the Mortgage Loans serviced pursuant
to such Servicing Agreement, but excluding any Ancillary Income, Prepayment Interest Excess or any amounts earned in connection with the investment of funds in the related Custodial Accounts and Escrow Accounts. 

“Servicing Transfer Date” shall have the meaning specified in the Sale Supplement. 

“Subject Servicing Agreement” shall mean, as of any date of determination, each Servicing Agreement with respect to
which the Servicing Transfer Date has occurred on or prior to such date and with respect to which the Subservicing Termination Date has not occurred on or prior to such date. 

  
 Subservicing
Supplement 
 2 

 “Target Ratio” for each calendar month shall mean the amount specified in
Schedule III with respect to such month. 
 (b) Any capitalized term used but not defined in this Subservicing Supplement
shall have the meaning assigned to such term in the Master Subservicing Agreement. 
 ARTICLE II. 

SUBSERVICING 
 2.1 Engagement as Subservicer. Servicer hereby engages Ocwen to act as subservicer, and Ocwen agrees to act as subservicer, with respect to the Mortgage Loans relating to those certain pooling and
servicing agreements or other servicing agreements listed in Schedule I hereto (the “Subject Servicing Agreements”) pursuant to the terms of the Master Subservicing Agreement, as supplement by this Subservicing Supplement, on
and after the related Servicing Transfer Date for such Subject Servicing Agreement. Except as set forth in this Subservicing Supplement or the Master Subservicing Agreement, Ocwen further agrees to be responsible for performing all of the duties and
obligations of Servicer and its subservicers under each Subject Servicing Agreement, and to meet any standards and fulfill any requirements applicable to Servicer or its subservicer under each Subject Servicing Agreement on and after the related
Servicing Transfer Date. 
 2.2 Servicing Transfer Procedures. Servicer and Ocwen each covenant and agree to following
the Servicing Transfer Procedures agreed pursuant to the Sale Supplement with respect to each Subject Servicing Agreement. 

2.3 Reference to Master Subservicing Agreement. Each of Servicer and Subservicer agrees that (a) this Subservicing Supplement
is a “Subservicing Supplement” executed pursuant to Section 2.1 of the Master Subservicing Agreement, (b) the terms of this Subservicing Supplement are hereby incorporated into the Master Subservicing Agreement with
respect to the Subject Servicing Agreements and the related Mortgage Loans to the extent set forth therein, (c) each of the Subject Servicing Agreements listed in Schedule I is a “Subject Servicing Agreement” as such term is
used in the Master Subservicing Agreement on and after the related Servicing Transfer Date, and (d) the terms of this Subservicing Supplement apply to the Subject Servicing Agreements specified herein and not to any other “Subject
Servicing Agreement” as that term is used in the Master Subservicing Agreement. In the event of any conflict between the provisions of this Subservicing Supplement and the Master Subservicing Agreement, the terms of this Subservicing Supplement
shall prevail. 
 ARTICLE III. 
 SERVICING FEES 
 3.1 Base Subservicing Fee. As compensation for its
services with respect to the Subject Servicing Agreements, Servicer shall pay Ocwen a monthly base subservicing fee for each calendar month during which Ocwen is servicing Mortgage Loans with respect to Subject Servicing Agreements pursuant to this
Subservicing Supplement equal to 12.00% of the aggregate Servicing Fees actually received by Servicer and Home Loan Servicing Solutions, Ltd. pursuant to the Subject Servicing Agreements during such calendar month (the “Base Subservicing
Fee”). 

  
 Subservicing
Supplement 
 3 

 3.2 Performance Fee. Servicer shall pay to Ocwen for each calendar month during which
Ocwen is servicing Mortgage Loans with respect to Subject Servicing Agreements pursuant to this Subservicing Supplement a performance fee (the “Performance Fee”) equal to the greater of (a) zero and (b) the excess, if any,
of the aggregate of all Servicing Fees actually received by Servicer pursuant to the Subject Servicing Agreements and with respect to the Deferred Servicing Agreements during such calendar month (whether directly pursuant to such Subject Servicing
Agreement or pursuant to the Sale Supplement, as applicable) over the sum of (i) the Monthly Servicing Fee for such calendar month and (ii) the Retained Servicing Fee for such calendar month, multiplied by (y) a fraction, (i) the
numerator of which is the average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing Agreements during such calendar month and (ii) the denominator of which is equal to the sum of the average unpaid principal
balance of all Mortgage Loans subject to the Deferred Servicing Agreements during such calendar month and the average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing Agreements during such calendar month, or such
other allocation percentage which is agreed by Servicer and Ocwen (the “Allocation Percentage”). The Performance Fee, if any, for any calendar month will be reduced by 3.75% per annum (i.e., 0.3125% per month) of the
Excess Servicing Advances, if any, for such calendar month multiplied by the Allocation Percentage, and the amount of any such reduction in the Performance Fee shall be retained by Servicer. If the Closing Date does not occur on the first day of a
calendar month, the Performance Fee for the period from the Closing Date to the last of the calendar month in which the Closing Date occurs shall be calculated in a pro rata manner based on the number of days in such period. 

ARTICLE IV. 
 MISCELLANEOUS 
 4.1 Incorporation. The provisions of Article
10 of the Master Subservicing Agreement are hereby incorporated into this Subservicing Supplement by reference, mutatis mutandis, as if its provisions were fully set forth herein. 

4.2 Third Party Beneficiaries. Ocwen and Servicer each acknowledges and agrees that the indenture trustee, on behalf of the
holders of related notes, with respect to any Servicing Advance Facility pursuant to which Servicer has transferred Servicer Advances made pursuant to a Servicing Agreement is an express third party beneficiary of this Subservicing Supplement and
the Subservicing Agreement solely with respect to the Servicing Agreements related to such Servicing Advance Facility. 

[Signature Page Follows] 

  
 Subservicing
Supplement 
 4 

 IN WITNESS WHEREOF, the parties hereto have caused this Subservicing Supplement to be
executed and delivered as of the date first above written. 
  

					
	HLSS HOLDINGS, LLC
			
		 	By:	 	/s/ James Lauter
		 		 	  

		 	Name:	 	James Lauter
		 	Title:	 	CFO
	
	OCWEN LOAN SERVICING, LLC
		
	By:	 	Ocwen Mortgage Servicing, Inc., as its sole member
			
		 	By:	 	/s/ Nikhil Malik
		 		 	  

		 	Name:	 	Nikhil Malik
		 	Title:	 	Vice President

  
 Subservicing
Supplement 

 SCHEDULE I 

SERVICING AGREEMENTS 
  

			
	 Investor Number
	 	 Deal Name

		
	 250
	 	 OOMC Series 2003-5

		
	 251
	 	 OOMC Series 2003-6

		
	 261
	 	 OOMC Loan Trust 2004-1

		
	 274
	 	 OOMC Loan Trust Series 2004-2

		
	 287
	 	 OOMC Loan Trust Series 2004-3

		
	 292
	 	 OOMLT 2005-1 STEP SERV FEE

		
	 369
	 	 OOMLT 2005-2 STEP SERV FEE

		
	 370
	 	 SOUNDVIEW 2005-OPT1- PMI

		
	 391
	 	 Citigroup CMLTI 2005-OPT4

		
	 423
	 	 Carrington 2006-OPT1

		
	 448
	 	 Merrill Lynch Series 2006-OPT1

		
	 662
	 	 OOMC MESA Trust 2001-5

		
	 664
	 	 OOMC Loan Trust 2002-1

		
	 669
	 	 OOMC Loan Trust 2002-3 -STEP

		
	 671
	 	 First Franklin Series 2002-FF1

		
	 683
	 	 OOMC Loan Trust 2002-6

		
	 687
	 	 OOMC Series 2003-1

		
	 690
	 	 OOMC Loan Trust 2003-2

		
	 691
	 	 OOMC Series 2003-3

		
	 693
	 	 OOMC Series 2003-4 StepSvcFee

		
	 262
	 	 ABFC Series 2004-OPT1

		
	 264
	 	 OOMC Woodbridge Series 2004-1

		
	 269
	 	 SABR Trust 2004-OP1 —STEP SF

  
 Sch I-1

			
		
	 271
	 	 UBS MASTR Series 2004-OPT1

		
	 272
	 	 BofA ABFC Series 2004-OPT2

		
	 276
	 	 BofA ABFC 2004-OPT3

		
	 279
	 	 ABSC Series 2004-HE3

		
	 284
	 	 ABFC 2004-OPT4

		
	 288
	 	 UBS MASTR Series 2004-OPT2

		
	 289
	 	 ABFC 2004-OPT5

		
	 294
	 	 Citigroup CMLTI 2005-OPT1

		
	 297
	 	 MASTR 2005-OPT1 STEP SERV FEE

		
	 299
	 	 CMLT 2005-OPT2 STEP SERV FEE

		
	 333
	 	 Citigroup Mort Loan Trust 2004-OPT1 step

		
	 334
	 	 Barclays SABR Series 2004-OP2

		
	 360
	 	 Barclays SABR Series 2005-OP1

		
	 377
	 	 Citigroup CMLTI 2005-OPT3

		
	 381
	 	 ABSC 2005-HE6

		
	 384
	 	 JPMAC 2005-OPT1

		
	 386
	 	 Soundview 2005-OPT2

		
	 400
	 	 ABFC 2005-OPT1

		
	 413
	 	 SABR 2005-OP2

		
	 414
	 	 JPMAC 2005-OPT2

		
	 417
	 	 Barclays SABR Series 2006-OP1

		
	 422
	 	 Soundview 2006-OPT1

		
	 428
	 	 ABSC 2006-HE3

		
	 437
	 	 Soundview 2006-OPT4

		
	 442
	 	 ABSC 2006-HE5

		
	 670
	 	 Option One Woodbridge 2002-1

  
 Sch I-2

			
		
	 685
	 	 MASTR 2002-OPT1 (UBS Security)

		
	 688
	 	 UBS—MASTR 2003-OPT1

		
	 689
	 	 OOMC Woodbridge 2003-1

		
	 692
	 	 MASTR Series 2003-OPT2

		
	 695
	 	 OOMC Woodbridge Series 2003-2

		
	 258
	 	 ACE Series2003-OP1

		
	 267
	 	 ACE 2004-OP1 STEP SERV FEE

		
	 380
	 	 OOMLT 2005-3

		
	 387
	 	 Lehman SASCO 2005-S5

		
	 397
	 	 OOMLT 2005-4

		
	 399
	 	 NHELI 2005-HE1

		
	 401
	 	 OOMLT 2005-5

		
	 402
	 	 SGMS 2005-OPT1

		
	 405
	 	 Lehman SASCO 2005-OPT1

		
	 412
	 	 OOMLT 2006-1

		
	 416
	 	 HSBC HASCO 2006-OPT1

		
	 420
	 	 HSBC HASCO 2006-OPT2

		
	 425
	 	 HSBC HASCO 2006-OPT3

		
	 430
	 	 Lehman SASCO 2006-OPT1

		
	 432
	 	 HSBC HASCO 2006-OPT4

		
	 434
	 	 ACE 2006-OP1

		
	 441
	 	 OOMC Loan Trust Series 2006-2

		
	 446
	 	 Lehman SASCO 2006-BC2

		
	 450
	 	 OOMLT 2006-3

		
	 551
	 	 ACE 2006-OP2

		
	 558
	 	 ABFC 2006-HE1

  
 Sch I-3

			
		
	 559
	 	 SGMS 2006-OPT2- Dual Cutoff

		
	 564
	 	 Lehman SASCO 2006-BC6

		
	 565
	 	 OOMLT 2007-01- Dual Cutoff

		
	 567
	 	 HSBC HASCO 2007-OPT1

		
	 568
	 	 Lehman SASCO 2007-BC1

		
	 569
	 	 OOMC Loan Trust Series 2007-CP1

		
	 571
	 	 OOMC Loan Trust Series 2007-2

		
	 573
	 	 Merrill Lynch Series 2007-HE2

		
	 574
	 	 OOMC Loan Trust Series 2007-FXD2

		
	 575
	 	 OOMC Loan Trust Series 2007-3

		
	 577
	 	 OOMC Loan Trust Series 2007-4

		
	 578
	 	 OOMC Loan Trust Series 2007-5

		
	 582
	 	 OOMC Loan Trust Series 2007-6

		
	 682
	 	 Morgan Stanley 2002-OP1

		
	 254
	 	 ABSC Series 2003-HE6

		
	 257
	 	 Merrill Lynch Series 2003-OPT1

		
	 396
	 	 Soundview 2005-OPT3

		
	 406
	 	 Soundview 2005-OPT4

  
 Sch I-4

 SCHEDULE II 

RETAINED SERVICING FEE PERCENTAGE 
  

							
	From	  	To	  	 	 
	 Month1
	  	Month	  	Retained Fee	 
	 1
	  	3	  	 	26.50 bps	  
	 4
	  	6	  	 	25.75 bps	  
	 7
	  	9	  	 	25.25 bps	  
	 10
	  	12	  	 	25.00 bps	  
	 13
	  	15	  	 	24.00 bps	  
	 16
	  	18	  	 	23.50 bps	  
	 19
	  	21	  	 	23.25 bps	  
	 22
	  	24	  	 	22.50 bps	  
	 25
	  	27	  	 	21.75 bps	  
	 28
	  	30	  	 	21.50 bps	  
	 31
	  	33	  	 	21.50 bps	  
	 34
	  	36	  	 	21.50 bps	  
	 37
	  	39	  	 	21.25 bps	  
	 40
	  	42	  	 	21.25 bps	  
	 43
	  	72	  	 	21.25 bps	  

  

	1 	 Starting with March 2013 

  
 Sch II-1

 SCHEDULE III 

TARGET RATIO SCHEDULE 
  

					
	Month2	  	Target Advance Ratio	 
	 1
	  	 	4.57	% 
	 2
	  	 	4.47	% 
	 3
	  	 	4.37	% 
	 4
	  	 	4.27	% 
	 5
	  	 	4.18	% 
	 6
	  	 	4.08	% 
	 7
	  	 	3.99	% 
	 8
	  	 	3.90	% 
	 9
	  	 	3.81	% 
	 10
	  	 	3.73	% 
	 11
	  	 	3.64	% 
	 12
	  	 	3.56	% 
	 13
	  	 	3.48	% 
	 14
	  	 	3.40	% 
	 15
	  	 	3.33	% 
	 16
	  	 	3.25	% 
	 17
	  	 	3.18	% 
	 18
	  	 	3.11	% 
	 19
	  	 	3.04	% 
	 20
	  	 	2.97	% 
	 21
	  	 	2.90	% 
	 22
	  	 	2.84	% 
	 23
	  	 	2.77	% 
	 24
	  	 	2.71	% 
	 25
	  	 	2.65	% 
	 26
	  	 	2.59	% 
	 27
	  	 	2.53	% 
	 28
	  	 	2.47	% 
	 29
	  	 	2.42	% 
	 30
	  	 	2.36	% 
	 31
	  	 	2.31	% 
	 32
	  	 	2.26	% 
	 33
	  	 	2.21	% 
	 34
	  	 	2.16	% 
	 35
	  	 	2.11	% 

  

	2	 Starting with
March 2013. 

  
 Sch III-1

					
	Month2	  	Target Advance Ratio	 
	 36
	  	 	2.06	% 
	 37
	  	 	2.02	% 
	 38
	  	 	1.97	% 
	 39
	  	 	1.93	% 
	 40
	  	 	1.88	% 
	 41
	  	 	1.84	% 
	 42
	  	 	1.80	% 
	 43
	  	 	1.76	% 
	 44
	  	 	1.75	% 
	 45
	  	 	1.75	% 
	 46
	  	 	1.75	% 
	 47
	  	 	1.75	% 
	 48
	  	 	1.75	% 
	 49
	  	 	1.75	% 
	 50
	  	 	1.75	% 
	 51
	  	 	1.75	% 
	 52
	  	 	1.75	% 
	 53
	  	 	1.75	% 
	 54
	  	 	1.75	% 
	 55
	  	 	1.75	% 
	 56
	  	 	1.75	% 
	 57
	  	 	1.75	% 
	 58
	  	 	1.75	% 
	 59
	  	 	1.75	% 
	 60
	  	 	1.75	% 
	 61
	  	 	1.75	% 
	 62
	  	 	1.75	% 
	 63
	  	 	1.75	% 
	 64
	  	 	1.75	% 
	 65
	  	 	1.75	% 
	 66
	  	 	1.75	% 
	 67
	  	 	1.75	% 
	 68
	  	 	1.75	% 
	 69
	  	 	1.75	% 
	 70
	  	 	1.75	% 
	 71
	  	 	1.75	% 
	 72
	  	 	1.75	% 

  
 Sch III-2EX-10.1

 Exhibit 10.1 
 EXECUTION COPY 
 STOCK REPURCHASE AGREEMENT 

THIS STOCK REPURCHASE AGREEMENT (this “Agreement”) is entered into as of March 12, 2013 by and between Delek US
Holdings, Inc., a Delaware corporation (the “Company”), and Delek Hungary Holding Limited Liability Company, a Hungarian limited liability company (the “Seller”). 

Background 
 A. The Seller owns 31,536,432 shares of the Company’s common stock, $0.01 par value per share (the “Common Stock”), and has agreed to transfer, assign, sell, convey and deliver a
portion of those shares to the Company on the terms and conditions set forth in this Agreement; 
 B. The Company has agreed to
repurchase a portion of the shares of Common Stock held by the Seller at the price and upon the terms and conditions provided in this Agreement (the “Repurchase”); 

C. Promptly after the date hereof, the Seller and the Company intend to commence an underwritten public offering (the “Public
Offering”) of shares of Common Stock held by the Seller (the “Underwritten Shares”); 
 D. The board
of directors of the Company (the “Board”) has authorized, contingent upon the consummation of the Public Offering, a program to repurchase through December 31, 2013 shares of Common Stock having an aggregate purchase price of
up to $75 million, from time to time in the open market, in privately negotiated transactions or through a combination thereof (the “Repurchase Program”); 
 E. The Board has delegated to the Audit Committee of the Board (the “Audit Committee”), comprised solely of directors who have been determined to be “independent” under
applicable standards of the Securities and Exchange Commission and the New York Stock Exchange, to determine whether to authorize and to negotiate the terms of the Repurchase pursuant to the Board’s authorization of the Repurchase Program; and

 F. The Audit Committee has approved the Repurchase and related transactions that may be required in connection with the
Repurchase. 

 NOW, THEREFORE, in consideration of the mutual covenants herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agree as follows: 

Agreement 
 1.
Repurchase. 
 (a) At the Closing (as defined below), subject to the satisfaction of the conditions and to the terms set
forth in paragraph 1(b), the Seller agrees to transfer, assign, sell, convey and deliver one million (1,000,000) shares of Common Stock (the “Repurchase Shares”). The per share purchase price for each Repurchase Share shall be
equal to the per share price at which the Seller sells the Underwritten Shares to the underwriters in the Public Offering (the “Per Share Purchase Price”). The Company hereby agrees to purchase such Repurchase Shares from the Seller
at the Per Share Purchase Price. 
 (b) The obligations of the Company to purchase the Repurchase Shares shall be subject to the
closing of the Public Offering pursuant to an underwriting agreement by and among the Company, the Seller and the underwriters named therein (the “Underwriting Agreement”) to be dated no later than three business days from the date
hereof. 
 (c) The closing of the sale of the Repurchase Shares (the “Closing”) shall take place on the same
day as the closing of the Public Offering at the offices of Bass, Berry & Sims PLC, 150 Third Avenue South, Suite 2800, Nashville, Tennessee 37201, or at such other time and place as may be agreed upon by the Company and the Seller. At the
Closing, the Seller shall deliver to the Company, or as otherwise instructed by the Company, a duly executed stock power relating to the Repurchase Shares, and the Company agrees to deliver to the Seller, by wire transfer of immediately available
funds, an amount equal to the product of the Per Share Purchase Price multiplied by the aggregate number of Repurchase Shares. 
 2. Company
Representations. In connection with the transactions contemplated hereby, the Company represents and warrants to the Seller that: 
 (a) The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. The Company has the requisite power and authority to execute, deliver and
perform its obligations under this Agreement and to consummate the transactions contemplated hereby. All consents, approvals, authorizations and orders necessary for the execution and delivery by the Company of this Agreement, and for the purchase
of the Repurchase Shares by the Company hereunder, have been obtained. 
 (b) This Agreement has been duly authorized, executed
and delivered by the Company and constitutes a valid and binding agreement of the Company enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization or other laws
affecting enforcement of creditors’ rights or by general equitable principles. 
 (c) The execution, delivery and
performance by the Company of this Agreement and the consummation by the Company of the transactions contemplated by this Agreement 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, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other
agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject,
(ii) result in any violation of the provisions of the charter or by-laws or similar organizational documents of the Company or (iii) result in the violation of any law or 

  
 2 

 
statute applicable to the Company or any of its subsidiaries or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority having jurisdiction over
the Company or any of its subsidiaries; except, in the case of clauses (i) and (iii) above, for any such conflict, breach, violation or default that would not reasonably be expected to have a material adverse effect on the business,
properties, financial position, stockholders’ equity or results of operations of the Company and its subsidiaries, taken as a whole (a “Material Adverse Effect”), or impair in any material respect the Company’s ability to
fulfill its obligations under this Agreement. 
 3. Representations of the Seller. In connection with the transactions contemplated
hereby, the Seller represents and warrants to the Company that: 
 (a) The Seller is duly organized and validly existing under
the laws of Hungary. The Seller has full right, power and authority to enter into this Agreement, and to consummate the transactions contemplated hereby, including the sale, assignment, transfer and delivery of the Repurchase Shares to be sold by
the Seller hereunder. All consents, approvals, authorizations and orders necessary for the execution and delivery by the Seller of this Agreement, and for the sale and delivery of the Repurchase Shares to be sold by the Seller hereunder, have been
obtained. 
 (b) This Agreement has been duly authorized, executed and delivered by the Seller and constitutes a valid and
binding agreement of the Seller, enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization or other laws affecting enforcement of creditors’ rights or by
general equitable principles. 
 (c) The execution, delivery and performance by the Seller of this Agreement and the
consummation by the Seller of the transactions contemplated herein 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, or result in the creation or imposition of any
lien, charge or encumbrance upon any property or assets of the Seller pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Seller is a party or by which the Seller is bound or to which any
of the property or assets of the Seller, including any of the Repurchase Shares, is subject, (ii) result in any violation of the provisions of the charter or by-laws or similar organizational documents of the Seller or (iii) result in the
violation of any law or statute applicable to the Seller or any judgment, writ, injunction, decree, order, rule or regulation of any court or arbitrator or governmental or regulatory agency having jurisdiction over the Seller; except, in the case of
clauses (i) and (iii) above, for any such conflict, breach, violation or default that would not reasonably be expected to have a Material Adverse Effect on the Seller, or impair in any material respect the Seller’s ability to fulfill
its obligations under this Agreement. 
 (d) As of the date hereof, the Seller has, and immediately prior to the delivery of the
Repurchase Shares to the Company at the Closing will have, valid title to the Repurchase Shares free and clear of all liens, encumbrances, equities or adverse claims. 
 (e) The Seller (either alone or together with its advisors) has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of

  
 3 

 
the Repurchase. The Seller has had the opportunity to ask questions and receive answers concerning the terms and conditions of the Repurchase and the Repurchase Shares and has had full access to
such other information concerning the Repurchase Shares and the Company as it has requested. The Seller has received all information that it believes is necessary or appropriate in connection with the Repurchase. The Seller is an informed and
sophisticated party and has engaged, to the extent the Seller deems appropriate, expert advisors experienced in the evaluation of transactions of the type contemplated hereby. The Seller acknowledges that the Seller has not relied upon any express
or implied representations or warranties of any nature made by or on behalf of the Company, whether or not any such representations, warranties or statements were made in writing or orally, except as expressly set forth for the benefit of the Seller
in this Agreement. 
 4. Termination. This Agreement may be terminated at any time by the mutual written consent of the Company and the
Seller. Furthermore, this Agreement shall automatically terminate and be of no further force and effect, in the event that (a) the commencement of the Public Offering has not been publicly announced within three business days after the date
hereof or (b) the conditions in paragraph 1(b) of this Agreement have not been satisfied within 10 business days after the date hereof. 

5. Notices. All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement will be
in writing and will be deemed to have been given when delivered personally, mailed by certified or registered mail, return receipt requested and postage prepaid, or sent via a nationally recognized overnight courier, or sent via facsimile to the
recipient. Such notices, demands and other communications will be sent to the address indicated below: 
 To the Seller:

 Delek Hungary Limited Liability Company 
 7, Giborey Israel Street, P.O.B. 8464 
 Industrial Zone South, Netanya 42504

 Israel 
 Tel: (+972 9) 8638400 
 Fax: (+972 9) 8638577 

Attention: General Counsel 
 With required copies (which shall not constitute notice) to: 
 Shearman &
Sterling LLP 
 599 Lexington Avenue 
 New York, New York 10022-6069 
 United States of America

Facsimile: +1 (646) 848-8830 
 Attn: Robert Evans III 

  
 4 

 To the Company: 
 Delek US Holdings, Inc. 
 7102 Commerce Way 

Brentwood, Tennessee 37027 
 United States of America 
 Facsimile: +1 (615) 435-1271 

Attn: General Counsel 
 With a required copy (which shall not constitute notice) to: 
 Bass,
Berry & Sims PLC 
 150 Third Avenue South, Suite 2800 

Nashville, TN 37201 
 United States of America 
 Facsimile: +1 (615) 742-0458 

Attention: Scott W. Bell 
 or
such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. 
 6. Miscellaneous. 
 (a) Survival of Representations and Warranties.
All representations and warranties contained herein or made in writing by any party in connection herewith shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby. 

(b) Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and
valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal, or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality, or unenforceability will not affect
any other provision or any other jurisdiction, but this Agreement will be reformed, construed, and enforced in such jurisdiction as if such invalid, illegal, or unenforceable provision had never been contained herein. 

(c) Complete Agreement. This Agreement and any other agreements ancillary thereto and executed and delivered on the date hereof
embody the complete agreement and understanding between the parties and supersede and preempt any prior understandings, agreements, or representations by or among the parties, written or oral, which may have related to the subject matter hereof in
any way. 
 (d) Counterparts. This Agreement may be executed in separate counterparts, each of which is deemed to be an
original and all of which taken together constitute one and the same agreement. 
 (e) Assignment; Successors and
Assigns. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in whole or in part, by any of the parties without the prior written consent of the other parties. Subject to the preceding sentence,

  
 5 

 
this Agreement shall bind and inure to the benefit of and be enforceable by the Seller and the Company and their respective successors and permitted assigns. Any purported assignment not
permitted under this paragraph shall be null and void. 
 (f) No Third Party Beneficiaries or Other Rights. This
Agreement is for the sole benefit of the parties and their successors and permitted assigns and nothing herein express or implied shall give or shall be construed to confer any legal or equitable rights or remedies to any person other than the
parties to this Agreement and such successors and permitted assigns. 
 (g) Governing Law; Jurisdiction. This Agreement
and all disputes arising out of or related to this Agreement (whether in contract, tort or otherwise) will be governed by and construed in accordance with the laws of the State of Delaware. EACH OF THE PARTIES TO THIS AGREEMENT IRREVOCABLY WAIVES
ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT. Each of the parties (i) irrevocably submits to the personal jurisdiction of any state or federal court sitting in Wilmington, Delaware, as
well as to the jurisdiction of all courts to which an appeal may be taken from such courts, in any suit, action or proceeding relating to or arising out of, under or in connection with this Agreement, (ii) agrees that all claims in respect of
such suit, action or proceeding, whether arising under contract, tort or otherwise, shall be brought, heard and determined exclusively in the Delaware Court of Chancery (provided that, in the event that subject matter jurisdiction is unavailable in
that court, then all such claims shall be brought, heard and determined exclusively in any other state or federal court sitting in Wilmington, Delaware), (iii) agrees that it shall not attempt to deny or defeat such personal jurisdiction by
motion or other request for leave from such court, and (iv) agrees not to bring any action or proceeding relating to or arising out of, under or in connection with this Agreement or the Company’s business or affairs in any other court,
tribunal, forum or proceeding. Each of the parties waives any defense of inconvenient forum to the maintenance of any action or proceeding brought in accordance with this paragraph. Each of the parties agrees that service of any process, summons,
notice or document by U.S. registered mail to its address set forth herein shall be effective service of process for any action, suit or proceeding brought against it in accordance with this paragraph, provided that nothing in the foregoing sentence
shall affect the right of any party to serve legal process in any other manner permitted by law. 
 (h) Mutuality of
Drafting. The parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties, and
no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement. 
 (i) Remedies. The parties hereto agree and acknowledge that money damages will not be an adequate remedy for any breach of the provisions of this Agreement, that any breach of the provisions of
this Agreement shall cause the other parties irreparable harm, and that any party may in its sole discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or deposit) for specific performance or other
injunctive relief in order to enforce, or prevent any violations of, the provisions of this Agreement. 

  
 6 

 (j) Amendment and Waiver. The provisions of this Agreement may be amended, modified
or waived only with the prior written consent of the Seller and the Company. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement, nor shall any waiver constitute
a continuing waiver. Moreover, no failure by any party to insist upon strict performance of any of the provisions of this Agreement or to exercise any right or remedy arising out of a breach thereof shall constitute a waiver of any other provisions
or any other breaches of this Agreement. 
 (k) Further Assurances. Each of the Company and the Seller shall execute and
deliver such additional documents and instruments and shall take such further action as may be necessary or appropriate to effectuate fully the provisions of this Agreement. 
 (l) Expenses. Each of the Company and the Seller acknowledges and agrees that expenses in connection with the drafting, negotiation, execution and delivery of this Agreement and the consummation of
the transactions contemplated hereby (including the reasonable fees and disbursements of counsel to the Seller in connection herewith) shall comprise “Registration Expenses,” as such term is defined in that certain Registration Rights
Agreement dated as of April 17, 2006, by and between the Company and Delek Group Ltd. 
 [Signatures appear on
following page.] 

  
 7 

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

			
	Company:
	
	DELEK US HOLDINGS, INC.
		
	By:	 	 /s/ Donald N. Holmes

	Name:	 	Donald N. Holmes
	Title:	 	EVP – Human Resources
		
		 	 /s/ Kent B. Thomas

		 	Kent B. Thomas
		 	EVP – General Counsel
		
	Seller:	 	
	
	DELEK HUNGARY HOLDING
	LIMITED LIABILITY COMPANY
		
	By:	 	 /s/ Barak Mashraki

	Name:	 	Barak Mashraki
	Title:	 	Managing Director

 [Signature Page to Stock Repurchase Agreement]

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