Document:

FORM OF EMPLOYEE MATTERS AGREEMENT

 EXHIBIT 10.3 
 [FORM OF EMPLOYEE MATTERS AGREEMENT] 
 by and between 

MURPHY OIL CORPORATION 
 and 
 MURPHY USA INC. 

Dated as of [                    ],
2013 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	ARTICLE 1	  			
	DEFINITIONS	  			
		
	 Section 1.01. Definitions
	  	 	1	  
		
	ARTICLE 2	  			
	GENERAL ALLOCATION OF LIABILITIES	  			
		
	 Section 2.01. Allocation of Liabilities Generally
	  	 	5	  
	 Section 2.02. Method of Settlement
	  	 	6	  
	 Section 2.03. Further Assurances
	  	 	6	  
	 Section 2.04. Assignment of Certain Rights; Non-Solicitation
	  	 	7	  
		
	ARTICLE 3	  			
	EMPLOYEES; ASSUMPTION AND/OR ADOPTION OF PLANS;
OPTION ADJUSTMENTS	  			
		
	 Section 3.01. Employees
	  	 	8	  
	 Section 3.02. Assumption by Murphy USA of Certain Plans
	  	 	8	  
	 Section 3.03. Adoption of Plans
	  	 	8	  
	 Section 3.04. Murphy Oil Equity-Based Plan Retention; Option Adjustments; Bonus Payments; Murphy Oil
ESPP
	  	 	8	  
		
	ARTICLE 4	  			
	THRIFT, SUPPLEMENTAL AND RETIREMENT PLANS	  			
		
	 Section 4.01. The Thrift Plan
	  	 	10	  
	 Section 4.02. Supplemental Plan
	  	 	11	  
	 Section 4.03. Retirement Plan Liabilities
	  	 	11	  
		
	ARTICLE 5	  			
	HEALTH AND WELFARE PLANS	  			
		
	 Section 5.01. Assumption of Health and Welfare Plan Liabilities; General Provisions
	  	 	12	  
	 Section 5.02. Post-retirement Health and Retired Life Insurance Benefits
	  	 	13	  
	 Section 5.03. Effect of Change in Rates
	  	 	13	  
	 Section 5.04. COBRA and HIPPA
	  	 	13	  
	 Section 5.05. Leave of Absence Programs and FMLA
	  	 	14	  
	 Section 5.06. Murphy USA Workers’ Compensation Program
	  	 	14	  
	 Section 5.07. Flexible Benefit Plans
	  	 	15	  
	 Section 5.08. Application of Article 5 to the Murphy Oil Group
	  	 	15	  

  

					
	ARTICLE 6	  			
	INDEMNIFICATION	  			
		
	ARTICLE 7	  			
	GENERAL PROVISIONS	  			
		
	 Section 7.01. Notices
	  	 	16	  
	 Section 7.02. Amendments; No Waivers
	  	 	17	  
	 Section 7.03. Successors and Assigns
	  	 	17	  
	 Section 7.04. Governing Law
	  	 	17	  
	 Section 7.05. Counterparts; Effectiveness
	  	 	17	  
	 Section 7.06. Entire Agreement; No Change in Control or Severance Event
	  	 	17	  
	 Section 7.07. Dispute Resolution
	  	 	18	  
	 Section 7.08. No Third Party Beneficiaries
	  	 	18	  
	 Section 7.09. Headings
	  	 	18	  
	 Section 7.10. Severability
	  	 	18	  
	 Section 7.11. Schedules
	  	 	18	  
	 Section 7.12. Cooperation and Coordination
	  	 	18	  
	 Section 7.13. Withholdings
	  	 	18	  

  
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 [FORM OF EMPLOYEE MATTERS AGREEMENT] 

EMPLOYEE MATTERS AGREEMENT (the “Agreement”) dated as of [—], 2013,
between Murphy Oil Corporation, a Delaware corporation (“Murphy Oil”) and Murphy USA Inc., a Delaware corporation (“Murphy USA”). 
 W I T N E S S E T H : 
 WHEREAS, Murphy Oil has decided to distribute the common stock of Murphy USA to the holders of Murphy Oil Common Stock, $1.00 par value, (the “Distribution”); and 

WHEREAS, in furtherance of the foregoing, Murphy Oil and Murphy USA have entered into the Distribution Agreement (as defined below) and
certain other agreements that will govern certain matters relating to the Distribution and the relationship of Murphy Oil and Murphy USA and their respective Subsidiaries following the Distribution; and 

WHEREAS, pursuant to the Distribution Agreement, Murphy Oil and Murphy USA have agreed to enter into this Agreement for the purpose of
allocating between them assets, liabilities, and responsibilities with respect to certain employee compensation and benefit plans and programs; 
 WHEREAS, Murphy Oil and Murphy USA have agreed that, except as otherwise specifically provided herein, the general approach and philosophy underlying this agreement is to allocate assets, liabilities and
responsibilities between Murphy Oil and Murphy USA on the basis of the employment relationships in effect at the time of the Distribution; 
 NOW, THEREFORE, in consideration of the mutual promises contained herein and in the Distribution Agreement, the parties agree as follows: 

ARTICLE 1 

DEFINITIONS 
 Section 1.01. Definitions. (a) The following terms, as used herein, shall have the meanings set forth below, provided, however, that capitalized terms used and not defined herein
shall have the meanings set forth in the Distribution Agreement: 
 “Applicable Law” shall have the meaning set
forth in the Distribution Agreement. 
 “Close of the Distribution Date” means 11:59:59 P.M., Eastern Standard
Time or Eastern Daylight Time (whichever shall then be in effect), on the Distribution Date. 
 “Code” shall
have the meaning set forth in the Distribution Agreement. 

 “COBRA” means the continuation coverage requirements for “group health
plans” under Title X of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, and as codified in Code § 4980B and ERISA §§ 601 through 608. 

“Distribution” has the meaning set forth in the recitals to this Agreement. 

“Distribution Agreement” means the Separation and Distribution Agreement by and between Murphy Oil Corporation and
Murphy USA Inc., dated as of             , 2013, to which this Agreement is Exhibit A. 
 “Distribution Date” shall have the meaning set forth in the Distribution Agreement. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, or any successor federal labor or employment law. Reference to a specific ERISA provision also includes any
proposed, temporary, or final regulation in force under that provision. 
 “FMLA” means the Family Leave and
Medical Act of 1993, as amended. 
 “Immediately after the Distribution Date” means 12:00 A.M., Eastern
Standard Time or Eastern Daylight Time (whichever shall then be in effect), on the day after the Distribution Date. 

“Liabilities” shall have the meaning set forth in the Distribution Agreement. 

“Murphy Oil Business” shall have the meaning set forth in the Distribution Agreement. 

“Murphy Oil Common Stock” shall have the meaning set forth in the Distribution Agreement. 

“Murphy Oil Employee” means each Person who, on the Distribution Date (a) is actively employed in the Murphy Oil
Business who is listed on the payroll records of any member of the Murphy Oil Group, (b) is on short-term disability leave, authorized leave of absence, military service or lay-off with recall rights and who was last actively employed in the
Murphy Oil Business by any member of the Murphy Oil Group, (c) is an inactive or former employee and who was last actively employed in the Murphy Oil Business by any member of the Murphy Oil Group, including any former employee who has been on
long-term disability leave or unauthorized leave of absence or who has terminated his or her employment, retired or died on or before the Distribution Date, and, in each case, their respective beneficiaries and dependents or (d) is an
individual set forth on Exhibit 1.01(a). Murphy Oil Employees shall not include the individuals set forth on Exhibit 1.01(b). 

“Murphy Oil Equity-Based Plans” means the Murphy Oil Corporation 1992 Stock Incentive Plan, 2007 Long-Term Incentive
Plan, 2012 Long-Term Incentive Plan, 2003 Stock Plan for Non-Employee Directors, 2008 Stock Plan for Non-Employee Directors and the 2013 Stock Plan for Non-Employee Directors. 

  
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 “Murphy Oil ERISA Affiliate” means any entity that, together with Murphy
Oil and after giving effect to the Distribution, would be treated as a single employer under Section 414(b) or (c) of the Code without regard to Sections 4069 and 4212(c) of ERISA. 

“Murphy Oil ESPP” means the Murphy Oil Corporation Employee Stock Purchase Plan. 

“Murphy Oil Group” shall have the meaning set forth in the Distribution Agreement. 

“Murphy Oil Plans”: means the Murphy Oil Basic Life and Accidental Death and Dismemberment Plan (excluding retired life
classes), the Murphy Oil Supplemental Life Plan, the Murphy Oil Occupational Life Plan, the Murphy Oil Business Travel Policy, the Murphy Oil Long Term Disability Plan, the Murphy Oil HCSAP, the Murphy Oil DCSAP, the Murphy Oil Medical Plan, the
Murphy Oil Dental Plan, the Murphy Oil Vision Plan, the Thrift Plan, the Supplemental Plan, the Murphy Oil Vacation Policy for Corporate Employees, the Murphy Oil Service Awards Program, the Murphy Oil Employee Assistance Policy, the Murphy Oil
Education Assistance Policy, and the Murphy Oil Occupational and Non-Occupational Illness Policy. 
 “Murphy USA
Business” shall have the meaning set forth in the Distribution Agreement. 
 “Murphy USA
Employee” means each Person who, on the Distribution Date, is or has at any time been employed in the Murphy USA Business who is not a Murphy Oil Employee. 
 “Murphy USA ERISA Affiliate” means any entity that, together with Murphy USA and after giving effect to the Distribution, would be treated as a single employer under Section 414(b)
or (c) of the Code without regard to Sections 4069 and 4212(c) of ERISA. 
 “Murphy USA Group” shall have
the meaning set forth in the Distribution Agreement. 
 “New Murphy USA Plans” means new, duplicate or mirror
plans, policies or programs, as applicable, adopted or to be adopted by Murphy USA that correspond to the Murphy Oil Plans, with such changes therein as are necessary or appropriate to effectuate the terms of this Agreement. 

“Profit Sharing Plan” means the Profit Sharing Plan for Employees of Murphy Oil Corporation. 

“Retirement Plan” means the Retirement Plan for Employees of Murphy Oil Corporation. 

“Specified Murphy Oil Rights” means any and all rights to enjoy, benefit from or enforce any and all restrictive
covenants including, without limitation covenants relating to non-disclosure, non-solicitation, non-competition, confidentiality or trade 

  
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secrets, applicable or related, in whole or in part, to the Murphy Oil Business that are provided for, contained or set forth in the Murphy Oil Equity-Based Plans or any stock option or other
award agreement issued thereunder, or pursuant to any non-competition, consulting, employment, termination, separation or severance agreement or arrangement with any Murphy USA Employee or Murphy Oil Employee and to which any member of the Murphy
USA Group or the Murphy Oil Group is a party. 
 “Specified Murphy USA Rights” means any and all rights to
enjoy, benefit from or enforce any and all restrictive covenants including, without limitation covenants relating to non-disclosure, non-solicitation, non-competition, confidentiality or trade secrets, applicable or related, in whole or in part, to
the Murphy USA Business that are provided for, contained or set forth in the Murphy Oil Equity-Based Plans or any stock option or other award agreement issued thereunder, or pursuant to any non-competition, consulting, employment, termination,
separation or severance agreement or arrangement with any Murphy USA Employee or Murphy Oil Employee and to which any member of the Murphy USA Group or Murphy Oil Group is a party. 

“Supplemental Plan” means the Murphy Oil Corporation Supplemental Executive Retirement Plan. 

“Tax Matters Agreement” shall have the meaning set forth in the Distribution Agreement. 

“Thrift Plan” means the Thrift Plan for Employees of Murphy Oil Corporation. 

(b) Each of the following terms is defined in the Section set forth opposite such term: 

 

					
	 TERMS
	  	SECTION	 
	 Employee Withholding Documents
	  	 	7.13	  
	 Murphy Oil Retained Liabilities
	  	 	2.01	  
	 Murphy Oil Bonus Liabilities
	  	 	3.04	  
	 Murphy Oil DCSAP
	  	 	5.07	  
	 Murphy Oil HCSAP
	  	 	5.07	  
	 Murphy Oil Health and Welfare Liabilities
	  	 	5.01	  
	 Murphy Oil Health and Welfare Plans
	  	 	5.01	  
	 Murphy Oil 2012 AIP
	  	 	3.04	  
	 Murphy Oil Retained Liabilities
	  	 	2.01	  
	 Murphy Oil WCP Liabilities
	  	 	5.06	  
	 Murphy USA Assumed Plans
	  	 	3.02	  
	 Murphy USA Assumed Liabilities
	  	 	2.01	  
	 Murphy USA DC Plan
	  	 	4.01	  
	 Murphy USA DC Plan Liabilities
	  	 	4.01	  
	 Murphy USA Health and Welfare Liabilities
	  	 	5.01	  
	 Murphy USA Assumed Liabilities
	  	 	2.01	  
	 Murphy USA Supplemental Plan Liabilities
	  	 	4.02	  
	 Murphy USA WCP Liabilities
	  	 	5.06	  

  
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	 TERMS
	  	SECTION	 
	 New Murphy USA Health and Welfare Plans
	  	 	5.01	  
	 PUs
	  	 	3.04	  
	 Retained Murphy Oil Retiree Health and Life Liabilities
	  	 	5.02	  
	 Retained Retiree Health and Life Liabilities
	  	 	5.02	  
	 Retained Supplemental Plan Liabilities
	  	 	4.02	  
	 Retained Thrift Plan Liabilities
	  	 	4.01	  
	 RSUs
	  	 	3.04	  
	 RSUCs
	  	 	3.04	  
	 Standard Procedure
	  	 	7.13	  

 ARTICLE 2 
 GENERAL ALLOCATION OF LIABILITIES 
 Section 2.01. Allocation of Liabilities Generally.  
 (a) Subject to
the terms and conditions of this Agreement, effective as of the Close of the Distribution Date, Murphy Oil hereby assumes and agrees to pay when due, honor and discharge, the following Liabilities, whether incurred before, on or after the
Distribution Date (“Murphy Oil Retained Liabilities”): 
 (i) all Liabilities arising under any
employment, separation or retirement agreement or arrangement to the extent applicable to any Murphy Oil Employee; 
 (ii) the Murphy Oil Bonus Liabilities, Murphy Oil Deferred Compensation Liabilities, Murphy Oil WCP Liabilities, Retained Retiree Health and Life Liabilities, Murphy Oil Health and Welfare Liabilities,
Retained Supplemental Plan Liabilities, Retained Thrift Plan Liabilities and all Liabilities arising under the Murphy Oil Equity-Based Plans, the Murphy Oil ESPP and the Retirement Plan; 

(iii) all Liabilities arising under any other employee benefit plan or arrangement maintained at any time after the
Distribution Date by any of the Murphy Oil Companies to the extent applicable to any member of the Murphy Oil Group; 
 (iv) all Liabilities arising under any federal, state, local or foreign law, order or regulation (including, without limitation, ERISA and the Code) to the extent they relate to participation by any
Murphy Oil Employee in any employee benefit plan sponsored or maintained by any member of the Murphy Oil Group, whether relating to events occurring on, prior to or after the Close of the Distribution Date or arising by reason of the transactions
contemplated by this Agreement or otherwise; 

  
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 (v) all statutory Liabilities to any Murphy Oil Employee, which arise,
directly or indirectly, by reason of the transactions contemplated by this Agreement; and 
 (vi) all other
Liabilities attributable to actions specified to be taken by Murphy Oil under this Agreement. 
 (b) Subject to the terms and
conditions of this Agreement, effective as of Immediately after the Distribution Date, Murphy USA hereby assumes and agrees to pay when due, honor and discharge, the following Liabilities, whether incurred before, on or after the Distribution Date
(“Murphy USA Assumed Liabilities”): 
 (i) all Liabilities arising under any employment,
separation or retirement agreement or arrangement to the extent applicable to any Murphy USA Employee; 
 (ii)
the New Murphy USA Plans, the Murphy USA Assumed Plans, Murphy USA Bonus Liabilities, Murphy USA DC Plan Liabilities, Murphy USA Health and Welfare Liabilities, Murphy USA Supplemental Plan Liabilities and the Murphy USA WCP Liabilities; 

(iii) all Liabilities arising under any other employee benefit plan or arrangement maintained at any time after the
Distribution Date by any member of the Murphy USA Group; 
 (iv) all Liabilities arising under any federal,
state, local or foreign law, order or regulation (including, without limitation, ERISA and the Code) to the extent they relate to participation by any Murphy USA Employee in any New Murphy USA Plan, relating to events occurring on or after the time
Immediately after the Distribution Date; 
 (v) all statutory Liabilities to any Murphy USA Employee which
arises, directly or indirectly, by reason of the transactions contemplated by this Agreement; and 
 (vi) all
other Liabilities attributable to actions specified to be taken by Murphy USA under this Agreement. 
 Section 2.02.
Method of Settlement. Notwithstanding anything herein to the contrary but except as set forth in Schedule 2.02, to the extent possible any transfer or assumption of Liabilities pursuant to this Article 2 shall be effected, prior to the
Distribution Date or as soon thereafter as is reasonably practicable, through a corresponding adjustment in the relevant intercompany account balances of the parties hereto. 
 Section 2.03. Further Assurances. 
 (a) On and after the date hereof,
Murphy USA will, at the reasonable request of Murphy Oil, execute, acknowledge and deliver all such endorsements, assurances, 

  
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consents, assignments, transfers, conveyances, powers of attorney and other instruments and documents, and take such other actions necessary (i) to assign, transfer, convey and deliver to
Murphy Oil, acting in its fiduciary capacity, all the assets to be transferred to Murphy Oil pursuant to this Agreement and (ii) to assist Murphy Oil in obtaining the consent and approval of all Governmental Authorities and other Persons
required to be obtained by Murphy Oil to effect the transfer thereof and the assumption of the Murphy Oil Retained Liabilities by Murphy Oil or otherwise appropriate to carry out the transactions contemplated hereby. 

(b) On and after the date hereof, Murphy Oil will, at the reasonable request of Murphy USA, execute, acknowledge and deliver all such
endorsements, assurances, consents, assignments, transfers, conveyances, powers of attorney and other instruments and documents, and take such other actions necessary (i) to assign, transfer, convey and deliver to Murphy USA, acting in its
fiduciary capacity, all the assets to be transferred to Murphy USA pursuant to this Agreement, and (ii) to assist Murphy USA in obtaining the consent and approval of all Governmental Authorities and other Persons required to be obtained by
Murphy USA to effect the transfer thereof and the assumption of the Murphy USA Assumed Liabilities by Murphy USA or otherwise appropriate to carry out the transactions contemplated hereby. 

Section 2.04. Assignment of Certain Rights; Non-Solicitation. 

(a) To the extent permitted by applicable law, Murphy Oil hereby assigns, to the maximum extent possible, on behalf of itself and the
Murphy Oil Group, the Specified Murphy USA Rights, to Murphy USA and Murphy Oil shall take such actions to effect such assignment pursuant to Section 2.03(b) as Murphy USA may reasonably request. 

(b) To the extent permitted by applicable law, Murphy USA hereby assigns, to the maximum extent possible, on behalf of itself and each of
the Murphy USA Group, the Specified Murphy Oil Rights, to Murphy Oil and Murphy USA shall take such actions to effect such assignment pursuant to Section 2.03(a) as Murphy Oil may reasonably request. 

(c) Murphy Oil and Murphy USA agree that neither party shall, without the prior written approval of the other, directly or indirectly for
12 months after the Distribution Date, solicit any employee of the other party to terminate his or her relationship with any member of the Murphy USA Group or Murphy Oil Group, respectively, provided that the foregoing shall not apply to
(i) the use of an independent employment agency (so long as the agency was not directed to solicit such person) or (ii) as a result of the use of a general solicitation (such as an advertisement) not specifically directed to employees of
the other party. 

  
 7 

 ARTICLE 3 
 EMPLOYEES; ASSUMPTION AND/OR ADOPTION OF PLANS; OPTION ADJUSTMENTS

 Section 3.01. Employees. No provision of this Agreement shall require Murphy Oil or Murphy USA or any of their
respective Subsidiaries to continue the employment of any of their respective employees following the Distribution Date. 

Section 3.02. Assumption by Murphy USA of Certain Plans. Effective as of the Close of the Distribution Date, Murphy USA
hereby assumes responsibility for and becomes the sponsor of, and Murphy Oil or the relevant Murphy Oil Subsidiary hereby ceases, except as otherwise provided herein, to be responsible for, or be the sponsor of, and ceases to be a
“participating employer” in or to otherwise have any Liability in respect of, the Group Insurance Plan for Retail Store Managers of Murphy Oil USA, Inc., Murphy USA Inc., Limited Liability Plan, the Profit Sharing Plan and any vacation
credited under the Vacation Policy for Retail Marketing Assistant Store Managers and Cashiers (Policy 05-01-08A) (collectively, “Murphy USA Assumed Plans”). Murphy Oil and Murphy USA agree to cooperate and take all reasonable
actions necessary or appropriate to cause a change in the sponsor of any Murphy USA Assumed Plan or in the title thereof. 

Section 3.03. Adoption of Plans. 
 (a) Effective as of not later than Immediately after the Distribution Date, Murphy USA or a Murphy USA Affiliate shall adopt, or cause to be adopted, the New Murphy USA Plans, provided that nothing shall
prevent Murphy USA from terminating or amending such plans except to the extent precluded by Applicable Law, as would result in the loss of grandfathered status under the Patient Protection and Affordable Care Act or as otherwise provided herein.

 (b) The New Murphy USA Plans shall be, with respect to all Murphy USA Employees, in all respects the successors in interest
to any corresponding Murphy Oil Plans. With respect to Murphy USA Employees, each New Murphy USA Plan and any other benefit plan, arrangement or policy applicable after the Distribution Date for Murphy USA Employees shall provide that all service,
compensation, and other benefit-affecting determinations, as of the Close of the Distribution Date, that were otherwise recognized under the corresponding Murphy Oil Plan (for periods ending on the Distribution Date) shall, as of Immediately after
the Distribution Date, receive full recognition and credit to the extent the recognition or credit can validly be taken into account under the
 New Murphy USA Plan to the same extent as if those items occurred under the Murphy Oil Plans, except
to the extent that duplication of benefits would result. Murphy Oil shall provide appropriate data to Murphy USA about such past service. 
 Section 3.04. Murphy Oil Equity-Based Plan Retention; Option Adjustments; Bonus Payments; Murphy Oil ESPP. 
 (a) In connection with the Distribution, Murphy Oil shall retain the Murphy Oil Equity-Based Plans and shall cause such actions to be taken under such Plans as are necessary or appropriate to reflect the
Distribution as provided in this Section 3.04 (a) and (b). 

  
 8 

 (i) In connection with the Distribution and effective as of the Distribution
Date, all outstanding vested options to purchase shares of Murphy Oil Common Stock, whether held by a current or a former Murphy Oil Employee, a current or a former Murphy USA Employee or a current or former non-employee director of Murphy Oil will
be adjusted pursuant to the terms of the applicable Murphy Oil Equity-Based Plan and Applicable Law to preserve the intrinsic value of each original option grant and the ratio of the exercise price to the fair market value of Murphy Oil Common Stock
on the Distribution Date. Such adjusted options held by Murphy USA Employees will be exercisable until the earlier of two years from the Distribution Date or the stated expiration date of the grant. 

(ii) In connection with the Distribution and effective as of the Distribution Date, any outstanding unvested options to
purchase Murphy Oil Common Stock which are held by Murphy Oil Employees will be adjusted as described in Section 3.04 (a)(i). Murphy USA will replace any outstanding unvested options to purchase shares of Murphy Oil Common Stock which are held
by Murphy USA Employees Immediately after the Distribution Date with long-term incentive awards of generally equivalent value under one or more long-term incentive plans to be adopted by Murphy USA. 

(iii) In connection with the Distribution and effective as of the Distribution Date, any outstanding unvested stock
appreciation rights related to Murphy Oil Common Stock which are held by Murphy Oil Employees will be adjusted as described in Section 3.04 (a)(i). Murphy USA will replace any outstanding unvested stock appreciation rights related to Murphy Oil
Common Stock which are held by Murphy USA Employees Immediately after the Distribution Date with long-term incentive awards of generally equivalent value under one or more long-term incentive plans to be adopted by Murphy USA. 

(iv) In connection with Distribution and effective as of the Distribution Date, similar adjustments as provided in
Section 3.04(a)(i) will be made to the Murphy Oil non-employee director restricted stock unit awards. 
 (v)
In connection with Distribution and effective as of the Distribution Date, phantom stock units held by Murphy Oil Employees will be adjusted as described in Section 3.04(a)(i). 

(vi) In connection with the Distribution and effective as of the Distribution Date, restricted stock units
(“RSUs”) whether held by a current or a former Murphy Oil Employee or a current or a former Murphy USA Employee will be adjusted pursuant to the terms of the applicable Murphy Oil Equity-Based Plan and Applicable Law to
preserve the intrinsic value of each original grant on the Distribution Date. RSUs that are held by Murphy USA Employees will be prorated based on the extent to which the applicable performance goals are

  
 9 

 
attained as of the Distribution Date, if at all, and will be paid out by Murphy Oil based on the number of months in the performance period ending on the Distribution Date divided by 36. Murphy
USA will replace the balance of the RSUs with long-term incentive awards of generally equivalent value under one or more long-term incentive plans to be adopted by Murphy USA. 

(vii) In connection with the Distribution and effective as of the Distribution Date, cash-based restricted stock units
(“RSUCs”) whether held by a current or a former Murphy Oil Employee or a current or a former Murphy USA Employee will be adjusted pursuant to the terms of the applicable Murphy Oil Equity- Based Plan and Applicable Law to preserve
the intrinsic value of each original grant on the Distribution Date. RSUCs that are held by Murphy USA Employees will be prorated based on the extent to which the applicable performance goals are attained as of Distribution Date, if at all, and will
be paid out by Murphy Oil based on the number of months in the performance period ending on the Distribution Date divided by 36. Murphy USA will replace the balance of the RSUCs with long-term incentive awards of generally equivalent value under one
or more long-term incentive plans to be adopted by Murphy USA. 
 (viii) In connection with the Distribution and
effective as of the Distribution Date, cash based performance units (“PUs”) that are held by Murphy USA Employees will be prorated based on the extent to which the applicable performance goals are attained as of Distribution Date,
if at all, and will be paid out by Murphy Oil based on the number of months in the performance period ending on the Distribution Date divided by 36. Murphy USA agrees to replace the balance of the PUs with a long-term incentive award of equivalent
value under one or more long-term incentive plans to be adopted by Murphy USA. 
 (b) Murphy Oil hereby retains
(i) Liability for all annual bonus payments to Murphy Oil Employees under the Murphy Oil Corporation 2012 Annual Incentive Plan (the “Murphy Oil 2012 AIP”) and (ii) Liability for all bonus payments under the
Murphy Oil 2012 AIP to Murphy USA Employees as determined pursuant to the Murphy 2012 AIP and the applicable award agreement (all such Liabilities, the “Murphy Oil Bonus Liabilities”). 

(c) The rights of, and continued participation in, if any, of Murphy Oil Employees and Murphy USA Employees under the Murphy Oil ESPP will
be determined pursuant to the terms thereof. For the avoidance of doubt, Murphy USA will not be under any obligation to replicate the Murphy Oil ESPP or to provide a similar benefit. 

ARTICLE 4 

THRIFT, SUPPLEMENTAL AND RETIREMENT PLANS 

Section 4.01. The Thrift Plan. 
 (a) Murphy Oil shall retain all Liabilities and obligations in respect of benefits accrued by each Murphy Oil Employee under the Thrift Plan. 

  
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 (b) Effective as of not later than Immediately after the Distribution Date, Murphy USA or a
Murphy USA ERISA Affiliate shall adopt a savings plan for the benefit of Murphy USA Employees that is substantially similar to the Thrift Plan and is intended to qualify under Section 401(a) of the Code (the “Murphy USA DC
Plan”). Not later than the end of the calendar year in which the Distribution Date occurs or as soon thereafter as is reasonably practicable, (1) Murphy Oil shall cause the Thrift Plan accounts of all Murphy USA Employees which are
held by the Thrift Plan’s related trust to be transferred to the Murphy USA DC Plan and its related trust, and Murphy USA shall cause those transferred accounts, all of which shall be 100% vested as of the Distribution Date, to be accepted by
the Murphy USA DC Plan and its related trust and (2) the Murphy USA DC Plan shall assume and be solely responsible for Liabilities only with respect to transferred accounts of such Murphy USA Employees (all such assumed liabilities
“Murphy USA DC Plan Liabilities”). Such transfer shall be in-kind, including loans, to the maximum extent practicable and shall not favor participants who are Murphy Oil Employees over participants who are Murphy USA Employees. Any
Murphy USA DC Plan fund relating to Murphy Oil Common Stock shall be administered so as to permit transfers out of, but not additions to, such fund. 
 (c) After the Distribution Date, Murphy Oil shall retain all assets and Liabilities under the Thrift Plan except as otherwise provided in Section 4.01(a) (“Retained Thrift Plan
Liabilities”). 
 Section 4.02. Supplemental Plan.  

(a)(i) Effective Immediately after the Distribution Date, all Liabilities accrued on the books and records of any member of the Murphy Oil
Group or any member of the Murphy USA Group with respect to the Supplemental Plan to the extent applicable to any Murphy USA Employee, and assets allocable to such Liabilities, if any, shall be transferred to and assumed by Murphy USA, or retained
by Murphy USA as the case may be, effective as of Immediately after the Distribution Date (“Murphy USA Supplemental Plan Liabilities”) under the New Murphy USA Plan that corresponds to the Supplemental Plan. 

(ii) All other Liabilities under the Supplemental Plan, and all related assets, are hereby transferred to and assumed or
otherwise retained by Murphy Oil (“Retained Supplemental Plan Liabilities”). 
 (b) Murphy USA and Murphy Oil
shall cooperate to ensure that no deferred compensation amount is distributed prematurely in respect of any Murphy Oil Employee or Murphy USA Employee. 
 Section 4.03. Retirement Plan Liabilities. Murphy Oil shall retain and remain responsible for all assets and Liabilities under the Retirement Plan accrued in respect of Murphy Oil Employees
and Murphy USA Employees pursuant to the terms of the applicable plan. For the avoidance of doubt, no Murphy USA Employee shall accrue any benefit after the Distribution Date under the Retirement Plan. 

  
 11 

 ARTICLE 5 
 Health and Welfare Plans 
 Section 5.01. Assumption of Health and Welfare
Plan Liabilities; General Provisions.  
 (a) Effective as of Immediately after the Distribution Date and except to the
extent provided in this Article 5, all Liabilities relating to claims incurred prior to, on or after the Distribution Date by each Murphy USA Employee under the “Murphy Oil Health and Welfare Plans” (designated as such on Schedule 3
hereto) shall cease to be Liabilities of the Murphy Oil Health and Welfare Plans and shall be transferred to and assumed by Murphy USA as of Immediately after the Distribution Date (“Murphy USA Health and Welfare Liabilities”) under
the New Murphy USA Plans that correspond to the Murphy Oil Health and Welfare Plans (the “New Murphy USA Health and Welfare Plans”). Murphy Oil shall retain all other Liabilities under the Murphy Oil Health and Welfare Plans
(“Murphy Oil Health and Welfare Liabilities”). 
 (b) Murphy USA shall cause the New Murphy USA Health and
Welfare Plans to recognize and maintain all coverage and contribution elections made by Murphy USA Employees under the Murphy Oil Health and Welfare Plans as of the Distribution Date and apply such elections under the New Murphy USA Health and
Welfare Plans for the remainder of the period or periods for which such elections are by their terms applicable. The transfer or other movement of employment from Murphy Oil to Murphy USA at any time before the Close of the Distribution Date shall
neither constitute nor be treated as a “status change” under the New Murphy USA Health and Welfare Plans or the Murphy Oil Health and Welfare Plans. 
 (c) Murphy USA shall cause the New Murphy USA Health and Welfare Plans to recognize and give credit for all amounts applied to deductibles, out-of-pocket maximums, and other applicable benefit coverage
limits with respect to which such expenses have been incurred by Murphy USA Employees under the Murphy Oil Health and Welfare Plans for the remainder of the year in which the Distribution Date occurs to the extent recognized under the comparable
Murphy Oil Health and Welfare Plans. 
 (d) Murphy USA shall provide coverage to Murphy USA Employees under the New Murphy USA
Health and Welfare Plans without the need to undergo a physical examination or otherwise provide evidence of insurability to the extent provided under the comparable Murphy Oil Health and Welfare Plans. 

(e) Murphy USA shall cause the New Murphy USA Health and Welfare Plans to recognize and credit all service of each Murphy USA Employee
recognized by the corresponding Murphy Oil Health and Welfare Plans before the Close of the Distribution Date for all purposes, including, but not limited to, severance, disability, vacation and paid time off purposes. On or as soon as reasonably
practicable after the Distribution Date, Murphy Oil shall deliver to Murphy USA a schedule setting forth the accrued and unused vacation and paid time off for each Murphy USA Employee as of the Distribution Date, and Murphy USA shall assume and be
responsible for all Liabilities therefor which, for the avoidance of doubt, shall be included in Murphy USA Health and Welfare Liabilities. 

  
 12 

 (f) Education or tuition reimbursement liabilities shall be the responsibility of the
employer of the tuition reimbursement program participant at the time the education or tuition reimbursement request is formally submitted by the program participant in accordance with the terms and conditions of such program. 

Section 5.02. Post-retirement Health and Retired Life Insurance Benefits. Murphy Oil shall be responsible for providing to
Murphy USA Employees who are eligible to receive post-retirement medical or retired life insurance coverages under the Murphy Oil Health and Welfare Plans and retire prior to the Close of the Distribution Date and to all Murphy Oil Employees such
coverage under the Murphy Oil Health and Welfare Plans (“Retained Retiree Health and Life Liabilities”), in each case pursuant to the terms of the applicable Murphy Oil Health and Welfare Plans. Nothing shall prevent (i) Murphy
Oil from amending or terminating such plans or (ii) notwithstanding Section 2.04(c) hereof, Murphy USA from actively employing any retired Murphy Oil Employees. 
 Section 5.03. Effect of Change in Rates. Murphy USA and Murphy Oil shall use their reasonable efforts to cause each of the insurance companies, HMOs, point-of-service vendors and third-party
administrators providing services and benefits under the New Murphy USA Health and Welfare Plans and the Murphy Oil Health and Welfare Plans to maintain the premium and/or administrative rates based on the aggregate number of participants in both
the New Murphy USA Health and Welfare Plans and the Murphy Oil Health and Welfare Plans through the expiration of the financial fee or rate guarantees in effect as of the Close of the Distribution Date under the respective contracts, policies, and
agreements separately rated or adjusted for the demographics, experience or other relevant factors related to the covered participants of Murphy USA and Murphy Oil, respectively. To the extent they are not successful in such efforts, Murphy USA and
Murphy Oil shall each bear the revised premium or administrative rates attributable to the individuals covered by their respective health and welfare plans. 
 Section 5.04. COBRA and HIPPA. 
 (a) Murphy Oil shall be responsible
for administering compliance with the health care continuation coverage requirements of COBRA and the Murphy Oil Health and Welfare Plans (i) with respect to Murphy Oil Employees and, (ii) with respect to Murphy USA Employees and their
dependents who incur a COBRA qualifying event other than under a Murphy USA Assumed Plan prior to the Distribution Date. 
 (b)
Effective as of Immediately after the Distribution Date, Murphy USA shall solely be responsible for administering compliance with the health care continuation coverage requirements of COBRA and the New Murphy USA Health and Welfare plans with
respect to Murphy USA Employees and their dependents who incur a COBRA qualifying event (i) under a Murphy USA Assumed Plan prior to the Distribution Date, and (ii) in all cases on or after the Distribution Date. 

  
 13 

 (c) For periods before the Distribution Date, Murphy Oil shall be responsible for
administering compliance with the portability requirements under the Health Insurance Portability and Accountability Act of 1996 with respect to Murphy USA Employees and beginning not later than Immediately after the Distribution Date Murphy USA
shall be responsible for filing all necessary employee change notices with respect to in accordance with applicable Murphy Oil policies and procedures. Effective Immediately after the Distribution Date, Murphy Oil shall be solely responsible for
administering compliance with such health care continuation coverage and portability requirements with respect to Murphy Oil Employees, and Murphy USA shall be solely responsible for administering compliance with such requirements with respect to
Murphy USA Employees. 
 Section 5.05. Leave of Absence Programs and FMLA. 

(a) Murphy USA shall be responsible for administering compliance with the Murphy USA leave of absence programs and FMLA with respect to
Murphy USA Employees. 
 (b) Effective as of Immediately after the Distribution Date: (i) Murphy USA shall adopt, and shall
cause each member of the Murphy USA Group to adopt, leave of absence programs; (ii) Murphy USA shall honor, and shall cause each member of the Murphy USA Group to honor, all terms and conditions of leaves of absence which have been granted to
any Murphy USA Employee under a Murphy Oil leave of absence program or FMLA before the Distribution Date, including such leaves that are to commence after the Distribution Date; (iii) Murphy Oil and each member of the Murphy Oil Group shall be
solely responsible for administering leaves of absence and compliance with FMLA with respect to their employees; and (iv) Murphy USA and each member of the Murphy USA Group shall recognize all periods of service of each Murphy USA Employee with
the Murphy Oil Group to the extent such service is recognized by Murphy Oil for the purpose of eligibility for leave entitlement under the Murphy Oil leave of absence programs and FMLA. 

(c) As soon as administratively possible and not later than the Close of the Distribution Date, Murphy Oil shall provide to Murphy USA
copies of all records pertaining to the Murphy Oil leave of absence programs and FMLA with respect to all Murphy USA Employees to the extent such records have not been provided previously to Murphy USA or a member of the Murphy USA Group.

 Section 5.06. Murphy USA Workers’ Compensation Program.  

(a)(i) Effective Immediately after the Distribution Date, Murphy USA shall assume, retain and be responsible for all workers’
compensation Liabilities relating to Murphy USA Employees (the “Murphy USA WCP Liabilities”). 

(ii) Effective Immediately after the Distribution Date, Murphy Oil shall assume, retain and be responsible for all
workers compensation Liabilities relating to Murphy Oil Employees (“Murphy Oil WCP Liabilities”). 

  
 14 

 (iii) For the avoidance of doubt, workers’ compensation Liabilities in
respect of any current or former employee shall be the responsibility of such employee’s employer on the Distribution Date or, in the case of former employees, any such former employee’s last employer prior to the Distribution Date.

 (b) Murphy Oil and Murphy USA shall cooperate with respect to the issuance of new, or transfer of, existing workers’
compensation policies and licenses. 
 Section 5.07. Flexible Benefit Plans.  

(a) To the extent any Murphy USA Employee contributed to an account under the Murphy Oil Health Care Spending Account Plan
(“Murphy Oil HCSAP”) during the calendar year that includes the Distribution Date, effective as of Immediately after the Distribution Date Murphy Oil shall transfer to the corresponding New Murphy USA Health and Welfare Plan the
account balances of such Murphy USA Employees for such calendar year under the Murphy Oil HCSAP, regardless of whether the account balance is positive or negative. 
 (b) To the extent any Murphy USA Employee contributed to the Murphy Oil Dependent Care Spending Account Plan (“Murphy Oil DCSAP”) during the calendar year that includes the Distribution
Date, effective as of Immediately after the Distribution Date, Murphy Oil shall transfer to the corresponding New Murphy USA Health and Welfare Plan the account balances of such Murphy USA Employees for such calendar year in the Murphy Oil DCSAP
Plan, regardless of whether the account balance is positive or negative. 
 Section 5.08. Application of Article 5 to
the Murphy Oil Group. Any reference in this Article 5 to “Murphy USA” shall include a reference to the Murphy USA Group when and to the extent Murphy USA has caused a member of the Murphy USA Group to (a) become a party to a
vendor contract, group insurance contract, or HMO letter agreement associated with a New Murphy USA Health and Welfare Plan, (b) become a self-insured entity for the purposes of one or more New Murphy USA Health and Welfare Plans,
(c) assume all or a portion of the liabilities or administrative responsibilities for benefits which arose before the Distribution Date under a Murphy Oil Health and Welfare Plan and which were expressly assumed by Murphy USA pursuant to the
terms of this Agreement, or (d) take any other action, extend any coverage, assume any other liability or fulfill any other responsibility that Murphy USA would otherwise be required to take under the terms of this Article 5, unless it is clear
from the context that the particular reference is not intended to include a member of the Murphy USA Group. In all such instances in which a reference in this Article 5 to “Murphy USA” includes a reference to a member of the Murphy USA
Group, Murphy USA shall be responsible to Murphy Oil for ensuring that the member of the Murphy USA Group complies with the applicable terms of this Agreement. 

  
 15 

 ARTICLE 6  
 INDEMNIFICATION 
 With respect to indemnification, the parties
hereto agree as set forth in the Distribution Agreement. 
 ARTICLE 7 

GENERAL PROVISIONS 
 Section 7.01. Notices. Any notice, instruction, direction or demand under the terms of this Agreement required to be in writing shall be duly given upon delivery, if delivered by hand,
facsimile transmission, or mail, to the following addresses: 
 If to Murphy Oil, to: 

Murphy Oil Corporation 
 200 Peach Street 
 P.O. Box 7000 

El Dorado, Arkansas 71731-7000 
  Attn: 
 Facsimile: 

With a copy to: 

Davis Polk & Wardwell LLP 
 450 Lexington Avenue 
 New York, New York 10017 

Attn: 

Facsimile: 

If to Murphy USA, to: 
 Murphy USA Inc. 
 200 Peach Street 

P.O. Box 7300 

El Dorado, Arkansas 71730 
 Attn: 
 Facsimile: 
  or to such other addresses or telecopy numbers as may be specified by like notice to the other party. All such notices, requests and other communications shall be deemed given, (a) when delivered in
person or by courier or a courier services, (b) if sent by facsimile transmission (receipt confirmed) on a business day prior to 5 p.m. in the place of receipt, on the date of transmission (or, if sent after 5 p.m. or on a day other than a
business day, on the following business day) or (c) if mailed by certified mail (return receipt requested), on the date specified on the return receipt. 

  
 16 

 Section 7.02. Amendments; No Waivers. (a) Any provision of this Agreement
may be amended or waived if, and only if, such amendment or waiver is in writing and signed, in the case of an amendment, by Murphy Oil and Murphy USA, or in the case of a waiver, by the party against whom the waiver is to be effective. 

(b) No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall
any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies
provided by law. 
 Section 7.03. Successors and Assigns. The provisions of this Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and assigns; provided that neither party may assign, delegate or otherwise transfer any of its rights or obligations under this Agreement without the consent of the
other parties hereto. 
 Section 7.04. Governing Law. This Agreement shall be construed in accordance with and
governed by the law of the State of New York, without regard to the conflicts of laws rules thereof. 
 Section 7.05.
Counterparts; Effectiveness. This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become
effective when each party hereto shall have received a counterpart hereof signed by the other party hereto. Until and unless each party has received a counterpart hereof signed by the other party hereto, this Agreement shall have no effect and no
party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication). 
 Section 7.06. Entire Agreement; No Change in Control or Severance Event. (a) This Agreement constitutes the entire understanding of the parties with respect to the subject matter hereof
and thereof and supersedes all prior agreements, understandings and negotiations, both written and oral, between the parties with respect to the subject matter hereof and thereof. No representation, inducement, promise, understanding, condition or
warranty not set forth herein has been made or relied upon by any party hereto or any member of their Group with respect to the transactions contemplated by this Agreement. To the extent that the provisions of this Agreement are inconsistent with
the provisions of the Tax Matters Agreement, the provisions of the Tax Matters Agreement shall prevail. 
 (b) Neither the
Distribution nor the consummation of the transactions contemplated herein or under the Distribution Agreement shall constitute a change in control for purposes of, or trigger or otherwise give rise to any severance obligations or entitlements under,
any Murphy Oil or Murphy USA plan, program, agreement or arrangement. 

  
 17 

 Section 7.07. Dispute Resolution. Any dispute hereunder or with respect to the
rights, duties and Liabilities of the parties hereto shall be resolved pursuant to the applicable provisions, including Article 8, of the Distribution Agreement. 
 Section 7.08. No Third Party Beneficiaries. Nothing contained in this Agreement is intended to constitute an amendment to any plan or arrangement governed by ERISA, or to confer upon any
person or entity other than the parties hereto and their respective successors and permitted assigns, any benefit, right or remedies under or by reason of this Agreement. 
 Section 7.09. Headings. The section and other headings contained in this Agreement are for reference purposes only and shall not in any way affect the meaning or interpretation of this
Agreement. 
 Section 7.10. Severability. If any one or more of the provisions contained in this Agreement should be
declared invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained in this Agreement shall not in any way be affected or impaired thereby so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such a declaration, the parties shall modify this Agreement so as to effect the original intent of the parties as closely as
possible in an acceptable manner so that the transactions contemplated hereby are consummated as originally contemplated to the fullest extent possible. 
 Section 7.11. Schedules. Murphy Oil and Murphy USA shall cooperate and mutually agree on each of the schedules to this Agreement. Murphy Oil and Murphy USA shall have the right to amend or
supplement the information set forth in any schedule hereto from time to time until two business days prior to the Distribution Date. 
 Section 7.12. Cooperation and Coordination. The parties agree to share, and furnish each other with, such information concerning employees and employee benefit plans, and to take all such
other action, as is necessary and appropriate to effect the transactions contemplated hereby, and to coordinate, in advance, the time, form and content of communications to current and former employees of the parties relating to such transactions.

 Section 7.13. Withholdings. (a) To the extent consistent with the terms of the Tax Matters Agreement, the
party that is responsible for making a payment hereunder shall be responsible for making the appropriate withholdings, if any, attributable to such payments. 
 (b) Murphy Oil and Murphy USA agree to comply with the Standard Procedure described in Section 4 of Revenue Procedure 2004-53, 2004-2 C.B. 320 (the “Standard Procedure”). With
respect to each Murphy USA Employee, Murphy Oil shall, in accordance with Revenue Procedure 2004-53, assume all responsibility for preparing and filing Form W-2, Wage and Tax Statements; Form W-3, Transmittal of Income and Tax Statements; Form 941,
Employer’s Quarterly Federal Tax Returns; Form W-4, Employee’s Withholding Allowance Certificates; and Form W-5, Earned Income Credit 

  
 18 

 
Advance Payment Certificates (collectively, the “Employee Withholding Documents”) with regard to wages paid during the period through the Close of the Distribution Date. Murphy
USA shall assume all responsibility for preparing and filing the Employee Withholding Documents with regard to wages paid to each Murphy USA Employee after the Close of the Distribution Date. Murphy USA and Murphy Oil shall cooperate in good faith
to the extent necessary to permit each of them to comply with the Standard Procedure. 
 [Signature Page Follows] 

  
 19 

 IN WITNESS WHEREOF the parties hereto have caused this Agreement to be duly executed by their respective
authorized officers as of the date first above written. 
  

			
	MURPHY OIL CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	MURPHY USA INC.
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Employee Matters Agreement] 

  
 20 

 SCHEDULE I 
 Murphy Oil Health and Welfare Plans: 
  

	 	•	 	 Murphy Oil Basic Life and Accidental Death and Dismemberment Plan (excluding retired life classes); 

 

	 	•	 	 Murphy Oil Supplemental Life Plan; 

  

	 	•	 	 Murphy Oil Occupational Life Plan; 

  

	 	•	 	 Murphy Oil Business Travel Policy; 

  

	 	•	 	 Murphy Oil Long Term Disability Plan; 

  

	 	•	 	 Murphy Oil HCSAP; 

  

	 	•	 	 Murphy Oil DCSAP; 

  

	 	•	 	 Murphy Oil Medical Plan; 

  

	 	•	 	 Murphy Oil Dental Plan; 

  

	 	•	 	 Murphy Oil Vision Plan; 

  

	 	•	 	 Murphy Oil Vacation Policy for Corporate Employees; 

  

	 	•	 	 Murphy Oil Service Awards Program; 

  

	 	•	 	 Murphy Oil Employee Assistance Policy; 

  

	 	•	 	 Murphy Oil Education Assistance Policy; and 

  

	 	•	 	 Murphy Oil Occupational and Non-Occupational Illness Policy.FORM OF TRADEMARK LICENSE AGREEMENT

 EXHIBIT 10.4 
 [FORM OF TRADEMARK LICENSE AGREEMENT] 
 This TRADEMARK LICENSE AGREEMENT
(this “Agreement”) dated as of [ ], 2013 (the “Effective Date”) between Murphy Oil Corporation, a Delaware corporation (“Licensor”), and Murphy USA Inc., a Delaware corporation
(“Licensee”, and each of Licensor and Licensee, a “Party”). 
 WITNESSETH: 

WHEREAS, Licensor has contributed to Licensee, its wholly-owned Subsidiary at the time of such contribution, all of Licensor’s
shares in Murphy Oil USA, Inc. (“Murphy Oil USA”) and consummated the spin-off of Licensee into an independent and separately traded company (the “Spin-Off”) that is engaged, indirectly through Murphy Oil USA, in
the business of retail marketing of petroleum products and convenience merchandise through a chain of retail gasoline stations (the “Retail Business”) and operating production distribution terminals and ethanol production facilities
(together with the Retail Business, the “Business”); 
 WHEREAS, in connection with the Spin-Off, Murphy Oil
USA has assigned to Licensor all of its right, title and interest in and to certain trademarks, including the Licensed Marks (as defined below); and 
 WHEREAS, subject to the terms and conditions set forth herein, Licensee desires to obtain, and Licensor is willing to grant to Licensee, a license to use the Licensed Marks in the conduct of the Business.

 NOW, THEREFORE, for the mutual covenants contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties agree as follows: 
 ARTICLE 1 

DEFINITIONS 
 Section 1.01. Definitions. (a) The following terms, as used herein, have the following meanings: 
 “Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with such Person. For purposes of this
definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise,
and the terms “controlling” and “controlled” have correlative meanings. 

 “Applicable Law” means, with respect to any Person, any transnational,
domestic or foreign federal, state or local law (statutory, common or otherwise), constitution, treaty, convention, ordinance, code, rule, permit, approval, regulation, order, injunction, judgment, decree, ruling or other similar requirement
enacted, adopted or promulgated or applied by a Governmental Authority that is binding upon or applicable to such Person. 

“Business Day” means a day, other than Saturday, Sunday or any other day on which commercial banks in New York, New York
are authorized or required by Applicable Law to close. 
 “Change of Control” means, with respect to Licensee
or Murphy Oil USA, the occurrence of any of the following: (i) a “Person” (as such term is used in Sections 13(d) and 14(d)(2) of the Exchange Act) becomes a beneficial owner, directly or indirectly, of equity representing fifty
percent (50%) or more of the total voting power of Licensee’s or Murphy Oil USA’s, as applicable, then outstanding equity capital; (ii) such entity merges into, is consolidated with or effects an amalgamation with another Person,
or merges another Person into such entity, on a basis whereby less than fifty percent (50%) of the total voting power of the surviving Person immediately after such merger, consolidation or amalgamation is represented by equity held directly or
indirectly by former equityholders of (and in respect of their former equity holdings in) such entity immediately prior to such merger, consolidation or amalgamation; and (iii) such entity directly or indirectly sells, transfers or exchanges
all, or substantially all, of its assets to another Person unless at least fifty percent (50%) of the total voting power of the transferee is directly or indirectly owned by the equityholders of Licensee or Murphy Oil USA, as applicable, in
respect of their former equity holdings in Licensee or Murphy Oil USA immediately prior to transfer; provided that in no event shall the consummation, execution or closing of the Spin-Off constitute a Change of Control with respect to
Licensee or Murphy Oil USA. 
 “Excluded Marks” means the trademark “MURPHY” and the Rowel Design, in
each case whether used on a standalone basis or in connection with any other trademark, design, company name, trade name, domain name or other source identifier (other than as specifically used in the trademarks set forth in Exhibit B). For the
avoidance of doubt, the Excluded Marks shall include the trademarks set forth in Exhibit A. 
 “Governmental
Authority” means any transnational, domestic or foreign federal, state or local governmental authority, instrumentality, court, legislative body, government organization, commission, tribunal or regulatory or administrative agency, or any
political or other subdivision, department or branch of any of the foregoing. 

  
 2 

 “Licensed Marks” means the trademarks set forth (and only as set forth) in
Exhibit B, including the registrations and applications for registration set forth in Exhibit B. For the avoidance of doubt, the Licensed Marks shall not include any trademark that is derivative of the trademarks set forth in
Exhibit B or any Excluded Mark. 
 “Person” means an individual, corporation, partnership, limited
liability company, association, trust or other entity or organization, including a governmental authority. 
 “Rowel
Design” means the design set forth in Exhibit C. 
 “Subsidiary” means, with respect to any Person,
any entity of which such Person owns, directly or indirectly, securities or other ownership interests having ordinary voting power to elect a majority of the board of directors or other persons performing similar functions. 

(b) Each of the following terms is defined in the Section set forth opposite such term: 

 

			
	 Term
	  	Section
	Agreement	  	Preamble
	Business	  	Recitals
	Effective Date	  	Preamble
	Insolvency Proceedings	  	5.03
	License	  	2.01
	Licensee	  	Preamble
	Licensor	  	Preamble
	Murphy Oil USA	  	Recitals
	Party	  	Preamble
	Retail Business	  	Recitals
	Spin-Off	  	Recitals
	Term	  	5.01
	Trademark Claims	  	4.03

 Section 1.02. Other Definitional and Interpretative Provisions. The words “hereof”,
“herein” and “hereunder” and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The captions herein are included for convenience of
reference only and shall be ignored in the construction or interpretation hereof. References to Articles, Sections and Exhibits are to Articles, Sections and Exhibits of this Agreement unless otherwise specified. All Exhibits annexed hereto or
referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein. Any capitalized terms used in any Exhibit but not otherwise defined therein shall have the respective meanings given to them in this
Agreement. Any singular term in this Agreement shall be deemed to 

  
 3 

 
include the plural, and any plural term the singular. Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed to be
followed by the words “without limitation”, whether or not they are in fact followed by those words or words of like import. “Writing”, “written” and comparable terms refer to printing, typing and other means of
reproducing words (including electronic media) in a visible form. 
 ARTICLE 2 

LICENSE 
 Section 2.01. Grant of License. Subject to the terms and conditions set forth herein, Licensor hereby grants to Licensee a worldwide, exclusive (subject to Section 2.03), non-transferable
(except as otherwise set forth in Section 6.01), non-sublicensable (except as otherwise set forth in Section 2.02), royalty-free, fully paid-up license to use the Licensed Marks solely in connection with the conduct of the Business during
the Term (the “License”). For the avoidance of doubt, subject to the terms and conditions contained herein, the License shall include (i) Licensee’s right to use “Murphy USA Inc.”, (ii) Murphy Oil USA’s
right to use “Murphy Oil USA, Inc.” and (iii) Murphy Oil Trading Company (Eastern)’s right to use “Murphy Oil Trading Company (Eastern)”, in each case, as their respective corporate names during the Term. 

Section 2.02. Sublicense Rights. The License shall include the right of Licensee to grant sublicenses to its Subsidiaries;
provided that any such sublicense shall terminate immediately upon the applicable sublicensee ceasing to be a Subsidiary of Licensee. Any such sublicense shall be evidenced in writing, contain terms and conditions that are no less restrictive
on the applicable sublicensee’s use of the Licensed Marks than the terms and conditions in this Agreement and be provided in written form to Licensor as soon as is reasonably practicable following the grant of such sublicense. 

Section 2.03. U.K. Downstream Business. The Parties hereby acknowledge that Licensor will engage, directly or indirectly, in
the conduct of the Business in the United Kingdom following the Spin-Off. Notwithstanding anything in this Agreement to the contrary, Licensor shall be permitted to use, and license or otherwise allow others (including acquirers of or successors to
the Business as conducted by Licensor in the United Kingdom) to use, “Murco” and any derivative thereof that does not include the term “USA” in connection with the conduct of the Business in the United Kingdom. 

ARTICLE 3 

OWNERSHIP AND USE OF LICENSED MARKS 

Section 3.01. Ownership of Licensed Marks; Reservation of Rights. (a) Licensee hereby acknowledges that (i) the
License is the only license granted to Licensee or any of its Affiliates with respect to the Licensed Marks and (ii) no other licenses whatsoever have been granted, expressly or by implication or

  
 4 

 
estoppel, to Licensee or any of its Affiliates by the provisions of this Agreement. Neither this Agreement nor its performance shall confer on Licensee or any of its Affiliates any right with
respect to the Licensed Marks other than those rights expressly granted herein, and any and all rights in and to the Licensed Marks not expressly granted to Licensee herein are reserved and retained by Licensor, as is the right to use any Excluded
Mark or any trademark that contains the term “Murphy” or the Rowel Design other than the Licensed Marks in any manner (subject to Section 3.05). Any use of the Licensed Marks by Licensee or any of its Affiliates pursuant to the
License shall inure to the benefit of Licensor. 
 (b) Licensee shall not, and shall cause its Affiliates to not,
(i) challenge the validity or ownership of the Licensed Marks, the Excluded Marks or any other marks of Licensor or its Affiliates or claim adversely or assist in any claim adverse to Licensor concerning any right, title or interest in or to
the Licensed Marks or the Excluded Marks, (ii) do or permit any act which may directly or indirectly impair or prejudice Licensor’s title to the Licensed Marks or Excluded Marks or be detrimental to the reputation and goodwill of Licensor,
(iii) register or attempt to register any trademark, design, company name, trade name, domain name or other source identifier that is derivative of, confusingly similar to or contains any Licensed Mark or Excluded Mark or (iv) use or
attempt to use any trademark, design, company name, trade name, domain name or other source identifier (other than the Licensed Marks) that is derivative of, confusingly similar to or contains any Excluded Mark. 

Section 3.02. Appearance of the Licensed Marks; Quality Control. Licensee shall use the Licensed Marks only in the form
stipulated by Licensor and shall conform to and observe such standards as Licensor from time to time prescribes, including standards relative to the quality, design, identity, size, position, appearance, marking and color of the Licensed Marks and
the manner, disposition and use of the Licensed Marks. All goods and services provided by Licensee under the Licensed Marks shall at all times be provided in compliance with Applicable Law and in a manner consistent with the quality of goods and
services provided by Licensor and its Affiliates under the Licensed Marks as of immediately prior to the Effective Date. Licensor shall have the right to inspect any written or electronic materials bearing any Licensed Mark. 

Section 3.03. Prosecution and Maintenance. Licensor shall, reasonably promptly following Licensee’s request and at
Licensee’s sole cost and expense, take all such actions as Licensee may reasonably request to prosecute and maintain any registration or application for registration of any Licensed Mark. 

Section 3.04. Third Party Notices. If requested in writing by Licensor, Licensee shall ensure that any written or electronic
materials bearing a Licensed Mark includes a written statement to the effect that such Licensed Mark is used by Licensee under license from Licensor. 

  
 5 

 Section 3.05. Licensor’s Use of Marks. Subject to Section 2.03,
Licensor shall not, and shall cause its Affiliates to not, use the Licensed Marks, the Excluded Marks or any trademark containing the term “Murphy” or the Rowel Design within the field of the Retail Business during the Term. 

Section 3.06. Fair Use. For the avoidance of doubt, nothing in this Agreement shall restrict or limit either Party’s
right to make any use of any term or trademark that constitutes fair use under Applicable Law or factual use for historical or reference purposes. 
 ARTICLE 4 
 CLAIMS AND LIABILITY

 Section 4.01. Disclaimers; Limitation of Liability. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT TO THE CONTRARY,
THE LICENSE IS GRANTED ON AN “AS IS” BASIS WITH NO REPRESENTATIONS OR WARRANTIES, AND EACH PARTY, ON BEHALF OF ITSELF AND ITS AFFILIATES, HEREBY EXCLUDES AND DISCLAIMS ANY EXPRESS OR IMPLIED REPRESENTATIONS OR WARRANTIES OF ANY KIND WITH
RESPECT TO THE LICENSE, INCLUDING THOSE REGARDING MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT AND ANY WARRANTIES IMPLIED BY ANY COURSE OF DEALING OR TRADE USAGE. NEITHER PARTY NOR ANY OF ITS AFFILIATES SHALL BE LIABLE
UNDER ANY LEGAL OR EQUITABLE THEORY FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES OF ANY KIND IN CONNECTION WITH THIS AGREEMENT EVEN IF THE OTHER PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
DAMAGES. 
 Section 4.02. Infringement of Licensed Marks by Third Party. Licensee shall promptly notify Licensor of
any unauthorized or improper use by any Person of any Licensed Marks, including in such notice the particulars of such use and any other information that Licensee and its Affiliates may have relating to such use, and reasonably cooperate with
Licensor, at Licensee’s sole cost and expense, in connection with any action Licensor may take to prevent or halt such use. In the event that Licensor does not take reasonable action to halt any such use related to the Business within a
reasonable period of time following such notice, Licensee may take reasonable action to prevent or halt such use, and Licensor shall reasonably cooperate with Licensee, at Licensee’s sole cost and expense, in connection with any such action of
Licensee. 
 Section 4.03. Third Party Actions. Licensee shall promptly notify Licensor of any allegations, claims
or demands (actual or threatened) against Licensee or any of its Affiliates for infringement of any intellectual property rights of third parties by reason of Licensee’s or its Affiliates’ use of the Licensed Marks (collectively,
“Trademark Claims”) and provide all related particulars 

  
 6 

 
requested by Licensor. Licensor shall retain exclusive control over the resolution of any Trademark Claim, including the right to agree to an injunction against further use of any Licensed Mark
at issue or to otherwise settle such Trademark Claim; provided that such settlement shall not require any payment by Licensee without Licensee’s prior written consent. In the event that Licensor does not take reasonable action to resolve
a Trademark Claim within a reasonable period of time following such notice, Licensee may assume exclusive control over such Trademark Claim (but solely to the extent such Trademark Claim relates to allegations, claims or demands (actual or
threatened) against Licensee or any of its Affiliates), including the right to agree to an injunction against further use of any Licensed Mark at issue by Licensee or any of its Affiliates or to otherwise settle such Trademark Claim with respect to
Licensee and its Affiliates; provided that such settlement shall not bind or apply to Licensor in any manner without Licensor’s prior written consent. Subject to the foregoing and at Licensee’s sole cost and expense, each Party
shall provide to the other Party such assistance as such other Party may reasonably request in connection with the defense or settlement of any Trademark Claim. 
 Section 4.04. Indemnification. Licensee shall indemnify, defend and hold harmless Licensor, its Affiliates and their respective directors, officers, employees and agents from and against any
damages, losses, liabilities, fines, penalties and expenses (including reasonable costs of investigation and reasonable attorneys’ fees in connection with any action, suit or proceeding) related to or arising out of the use of the Licensed
Marks by Licensee or any of its Affiliates or the exercise of Licensee’s rights and obligations under this Agreement. 

ARTICLE 5 

TERM AND TERMINATION 
 Section 5.01. Term. This Agreement is effective as of the Effective Date and shall continue in full force and effect in perpetuity unless terminated in accordance with Section 5.02 or
Section 5.03 (the “Term”). 
 Section 5.02. Termination by Licensee. Licensee may terminate
this Agreement at any time immediately upon written notice to Licensor. 
 Section 5.03. Termination by Licensor.
Licensor may terminate this Agreement immediately upon written notice to Licensee upon the occurrence of any of the following: 
 (a) a material breach of any provision of this Agreement by Licensee or any of its Affiliates and failure to fully cure such breach within 30 days after Licensor’s provision of written notice to
Licensee of such breach; 
 (b) a Change of Control of Licensee or Murphy Oil USA; and 

  
 7 

 (c) with respect to Licensee or any of its Affiliates, (i) the voluntary commencement
of any proceeding (all of which proceedings are hereinafter collectively referred to as “Insolvency Proceedings”) under the United States Bankruptcy Code or any other law of any jurisdiction for the relief, liquidation or
rehabilitation of debtors, (ii) the involuntary commencement of an Insolvency Proceeding that is not dismissed within ninety (90) days after the filing thereof, or (iii) the appointment of or taking of possession by a receiver,
custodian, trustee, liquidator or similar official. 
 Section 5.04. Effect of Termination; Survival. Upon
expiration or termination of this Agreement, the License shall immediately terminate without any further action by Licensor, and Licensee shall, and shall cause each of its Affiliates to, cease using the Licensed Marks in any form. Notwithstanding
anything in this Agreement to the contrary, Sections 3.01(a), 4.01, 4.04 and 5.04 and Article 6 shall survive any expiration or termination of this Agreement. 
 ARTICLE 6 
 GENERAL 

Section 6.01. Successors and Assigns. The provisions of this Agreement shall be binding upon and inure to the benefit of the
Parties and their respective successors and permitted assigns; provided that, except as expressly set forth in Section 2.02, Licensee may not assign, delegate or otherwise transfer this Agreement or any of its rights or obligations
hereunder without the express prior written consent of Licensor. 
 Section 6.02. Notices. All notices, requests and
other communications to any Party shall be in writing (including facsimile and email transmission) and shall be given, 
 if to
Licensee, to: 
 Murphy USA Inc. 

200 Peach Street 
 P.O. Box 7300 
 El Dorado, Arkansas 71731 

Attn: 
 Facsimile: 
 with a copy to: 

Davis Polk & Wardwell LLP 

450 Lexington Avenue 
 New York, New York 10017 
 Attn: 

Facsimile: 

  
 8 

 if to Licensor, to: 

Murphy Oil Corporation 
 200 Peach Street 
 P.O. Box 7000 

El Dorado, Arkansas 71731 
 Attn: 
 Facsimile: 

with a copy to: 
 Davis Polk & Wardwell LLP 
 450 Lexington Avenue

 New York, New York 10017 

Attn: 
 Facsimile: 
 or such other address, facsimile number or email address as such Party may hereafter
specify for the purpose by notice to the other Party. All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. in the place of receipt and such day is
a Business Day. Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding Business Day. 
 Section 6.03. Specific Performance. The Parties acknowledge that money damages are not an adequate remedy for any violation of this Agreement and that either Party may, in its sole discretion,
apply to the courts set forth in Section 6.05 for specific performance, or injunctive or such other relief as such courts may deem just and proper, in order to enforce this Agreement or prevent any violation hereof, and to the extent permitted
by Applicable Law, each Party waives the posting of bond and any objection to the imposition of such relief. 

Section 6.04. Amendments and Waivers. (a) Any provision of this Agreement may be amended or waived if, and only if, such
amendment or waiver is in writing and signed, in the case of an amendment, by each of the Parties or, in the case of a waiver, by the Party against whom the waiver is to be effective. 

(b) No failure or delay by any Party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any
single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies
provided by Applicable Law. 

  
 9 

 Section 6.05. Governing Law and Jurisdiction. This Agreement shall be subject to
and governed by the laws of the State of New York without regard to the conflict of law rules of such state. Each Party hereby submits and consents to the jurisdiction of the state and federal courts in the State of New York and to venue in New
York, New York. 
 Section 6.06. Counterparts. This Agreement may be signed in any number of counterparts, each of
which shall be deemed an original and all of which, when taken together, shall constitute one agreement. 

Section 6.07. No Third Party Beneficiaries. No provision of this Agreement is intended to confer any rights, benefits,
remedies, obligations or liabilities hereunder upon any Person other than the Parties and their respective successors and permitted assigns. 
 Section 6.08. Entire Agreement. This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior agreements,
understandings and negotiations, both oral and written, among the Parties with respect to the subject matter hereof. For the avoidance of doubt, the Parties acknowledge and agree that the transactions contemplated in connection with the Spin-Off,
together with the transactions contemplated by this Agreement, collectively constitute a single and integrated transaction. 

Section 6.09. Severability. If any provision of this Agreement or any part thereof shall be determined to be invalid or
unenforceable, such invalidity or unenforceability shall not render the entire Agreement invalid. Rather, the Agreement shall be construed as if not containing the particular invalid or unenforceable provision, and the rights and obligations of each
Party shall be construed and enforced accordingly. 
 [remainder of page intentionally left blank] 

  
 10 

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

			
	MURPHY OIL CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:
	
	MURPHY USA INC.
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Trademark License Agreement] 

  

 Exhibit A 
 Excluded Marks 
 Murphy Oil Corporation 

Murphy Gas Gathering Inc. 
 Arkansas Oil Company

 Murphy Crude Oil Marketing 

Caledonia Land Company 
 El Dorado Engineering
Inc. 
 El Dorado Contractors Inc. 

Marine Land Company 
 Murphy Eastern Oil Company

 Murphy Exploration & Production Company 
 Mentor Holding Corporation 
 Mentor Excess and Surplus Lines Insurance Company 

MIRC Corporation 
 Murphy Building Corporation

 Murphy Exploration & Production Company – International 
 Canam Offshore Limited 
 Canam Brunei Oil Ltd. 

Murphy Peninsular Malaysia Oil Co., Ltd. 
 Murphy
Sabah Oil Co., Ltd. 
 Murphy Sarawak Oil Co., Ltd. 
 El Dorado Exploration, S.A. 
 Murphy Australia Holdings Pty. Ltd. 

Murphy Australia NT/P80 Oil Pty. Ltd. 
 Murphy
Australia Oil Pty. Ltd. 
 Murphy Australia AC/P 36 Oil Pty. Limited 
 Murphy Australia WA-408-P Oil Pty. Ltd. 
 Murphy Australia WA-423-P Oil Pty. Ltd. 

Murphy Australia WA-476-P Oil Pty. Ltd. 
 Murphy
Australia WA-481-P Oil Pty. Ltd. 
 Murphy Baranan Oil Co., Ltd. 
 Murphy Brazil Exploracao e Producao de Petroleo e Gas Ltda. 
 Murphy Cameroon Elombo Oil Co., Ltd.

 Murphy Cameroon Ntem Oil Co., Ltd. 

Murphy Central Dohuk Oil Co. Ltd. 
 Murphy
Equatorial Guinea Oil Co., Ltd. 
 Murphy Exploration (Alaska), Inc. 
 Murphy Global, Inc. 
 Murphy International Marketing & Trading Company 

Murphy Italy Oil Company (see company F. below) 

Murphy Kurdistan Oil Co., Ltd. 
 Murphy Nha Trang
Oil Co., Ltd. 
 Murphy Overseas Ventures Inc. 

  
 A-1

 Murphy Brazil Exploracao e Producao de Petroleo e Gas Ltda. 

Murphy Phuong Nam Oil Co., Ltd. 
 Murphy SE Asia
Oil Pte. Ltd. 
 Murphy Semai IV Ltd. 

Murphy Semai Oil Co., Ltd. 
 Murphy Somali Oil
Company 
 Murphy South Barito, Ltd. 

Murphy-Spain Oil Company 
 Murphy Suriname
Company Ltd. 
 Murphy Suriname Oil Company, Ltd. 
 Murphy West Africa, Ltd. 
  
 

 
  
 

 

  
 A-2

 Exhibit B 
 Licensed Marks 
 Murphy USA 
 Murphy USA Inc. 
 Murphy Oil USA, Inc. 
 Murphy Oil USA 
 Murphy Oil Trading Company (Eastern) 

Murphy Express 
 Murpay 

Dr. Murphy’s Crazy Concoction 

Registrations 
  

									
	 Country
	  	 Mark
	  	 Status
	  	 Application
No.
	  	 Registration
No.

	U.S.	  	MURPHY USA and two-star design	  	Registered	  	77/844,528	  	3,938,678
	U.S.	  	MURPHY USA and design	  	Registered	  	75/300,843	  	2,180,353
	U.S.	  	MURPAY	  	Registered	  	77/844,494	  	3,938,676
	U.S.	  	DR. MURPHY’S CRAZY CONCOCTION	  	Registered	  	85/444,396	  	4,269,358

 Exhibit C 
 Rowel Design

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