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Exhibit 10.2

MUTUAL SEPARATION AGREEMENT AND RELEASE OF CLAIMS

This Mutual Separation Agreement and Release of Claims (“Agreement”) is between HF Sinclair Corporation (“HFS”), HollyFrontier Corporation, Holly Logistic Services, L.L.C., HollyFrontier Payroll Services, Inc. and Holly Energy Partners, L.P. (“HEP”), on behalf of themselves and their respective parents, subsidiaries, and affiliates (collectively the “Company”), and me, Richard L. Voliva III.  By signing this Agreement, I am agreeing to release all claims against the 
Company, and promising not to sue the Company in the future, all as described in more detail below.  In exchange for my agreements and promises, the Company has agreed to pay me Separation Benefits (set forth on Attachment A) which I understand I would not receive unless I sign and do not timely revoke this Agreement.  I acknowledge and agree to the following:

1.Separation.  I understand that my final day of active employment with the Company will be on my Separation Date set forth on Attachment A, which attachment is part of this Agreement.  All salary and other benefits will cease at that time, except as otherwise provided in this Agreement.

2.Separation Benefits.  I understand that I am being separated from the payroll and that I have been offered Separation Benefits (set forth on Attachment A) in exchange for signing and complying with the terms of this Agreement.  This payment is subject to taxes and customary withholdings and will be paid within the time period set forth on Attachment A.  I understand that payment will cease upon my breach of any part of this Agreement. 

3.Waiver of Claims.  I realize that there are various local, state, and federal laws, both statutory and common law, that may apply and/or relate to my employment with the Company.  I understand that, among other things, these laws prohibit employment discrimination on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, marital status, national origin, ancestry, citizenship status, age, disability, protected medical condition as defined by applicable state or local law (cancer or genetic characteristics), pregnancy, childbirth and related medical conditions, genetic information, veteran status or any other characteristic protected by applicable federal, state or local law, and that these laws are enforced through the courts and agencies such as the Equal Employment Opportunity Commission (EEOC), Department of Labor (DOL), and state human rights, wage and hour and fair employment practices agencies.

Such laws include, but are not limited to, federal and state wage and hour laws, including the Fair Labor Standards Act (FLSA), federal and state whistleblower laws, federal and state leave laws, including the Family and Medical Leave Act (FMLA), federal and state anti-discrimination and other laws, including Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967, as amended (ADEA), the Employee Retirement Income Security Act, 29 U.S.C. 100l, et seq. (ERISA) (excluding COBRA), 42 U.S.C. Section 1981, the Worker Adjustment and Retraining Notification (WARN) Act, the Equal Pay Act, the Americans with Disabilities Act (ADA),  the Vietnam Era Veterans Readjustment Assistance Act, the Fair Credit Reporting Act, the Occupational Safety and Health Act (OSHA), the Sarbanes-Oxley Act of 2002 (SOX), the Texas Commission on Human Rights Act (a/k/a Chapter 21 of the Texas Labor Code), the Immigration Reform and Control Act, and any other federal or state employment laws, as each may be amended from time to time.

By signing this Agreement, I, on behalf of myself and anyone who may have the legal right to make claims on my behalf, release the Company, and its respective directors, officers, representatives, agents and employees, and any of the Company’s successors or predecessors, affiliates, or parent, subsidiary and related companies (collectively referred to as “Releasees”) from any and all claims, known or unknown, including claims for attorneys’ fees and costs, 
Separation Agreement and Release of Claims – Voliva

which relate to, or arise out of, my employment or separation from the Company.  I understand that, subject to the limitations set forth in paragraph 4 below, I am giving up all statutory, common law or contract claims and rights, including those that I am not currently aware of and those not mentioned in this Agreement, up to and through the date that I sign and deliver this Agreement to the Company.  If any claim is not subject to release, I waive, to the extent permitted by law, any right or ability to be a class or collective action representative or to opt-in and/or otherwise participate in any putative or certified class, collective or multi-party action or proceeding based on such a claim in which the Company or any other Releasee identified in this Agreement is a party.  

4.Certain Actions Not Prohibited.   I understand that this Agreement does not prohibit or prevent me from filing a charge or participating, testifying, or assisting in investigations, hearings, or other proceedings conducted by the EEOC or the NLRB, or a similar agency enforcing federal, state or local anti-discrimination laws.  However, to the maximum extent provided by law, I agree that if such an administrative claim is made to an anti-discrimination agency, I shall not be entitled to any individual damages, money, or other personal benefits as a result of such charge, investigation or proceeding.  In addition, I understand that nothing in this Agreement, including, but not limited to, the release of claims nor the confidentiality clause, prohibits me from a) reporting possible violations of law (including securities laws) to any government agency or entity, including to the U.S. Congress, the U.S. Department of Justice, the U.S. Securities and Exchange Commission or any agency Inspector General; b) making disclosures protected under federal whistleblower laws; or c) otherwise fully participating in any federal whistleblower programs, including any such programs managed by the U.S. Securities and Exchange Commission and/or the Occupational Safety and Health Administration.  This Agreement does not prohibit or prevent me from receiving individual monetary awards or other individual relief by virtue of participating in such whistleblower programs.  Furthermore, I understand, and the Company hereby acknowledges and agrees, that this Agreement does not prevent me from exercising my rights, if any, to a) vested benefits under any pension or savings plan or deferred compensation plan; b) COBRA benefits under Section 601-608 of ERISA; c) receive pay for accrued but unused vacation; d) any right to my base salary through my Separation Date; and/or (e) enforce the terms of this Agreement.

 
5.Legal Action and Legal Fees.  I understand that I must pay the Company’s legal fees if I sue the Company for any claims released under this Agreement or otherwise break my promises in this Agreement.  I understand that I do not have to pay the Company’s legal fees under this paragraph, and that I will not be penalized in any way, if I challenge only my waiver and/or release of age discrimination claims under the Age Discrimination in Employment Act (ADEA).  In the event I bring legal action against the Company seeking to enforce my right to payment of the Separation Benefits, the prevailing party in such legal action will be entitled to recover its reasonable attorneys’ fees and costs from the other party.

6.Cooperation.  I agree, upon the Company’s request, to reasonably cooperate in any Company investigation, arbitration and/or litigation regarding events that occurred during my employment with the Company.  I understand that the Company will compensate me for any reasonable expenses I incur as a result of such cooperation, as long as I request such compensation in advance and in writing.

7.Certain Obligations.  I understand that after my Separation Date, I continue to be bound by my other obligations and promises to the Company, including, but not limited to, the obligations contained in the Company’s Code of Business Conduct and Ethics (the “Code”), any intellectual property agreements signed by me and any confidentiality or non-solicitation agreement contained in any equity-based compensation award, except as specifically modified by this Agreement.  I also understand that this Agreement does not, however, limit me from 
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providing information to the U.S. Securities and Exchange Commission and/or the Occupational Safety and Health Administration as part of a whistleblower action and/or a report of possible violation(s) of any federal securities law.

I affirm my obligation to the Company not to disclose to any third party non-public Company information.  I understand that this paragraph shall not apply to information that is required to be disclosed by law or to information provided to a government agency or entity acting in its official capacity.

8.Return of Property.  In accordance with my existing and continuing obligations to the Company (including those obligations arising under the Code and any confidentiality, intellectual property and/or other agreements that I have previously signed), I agree that, except as otherwise agreed to with the Company, I have returned or will immediately return to the Company, within five days of my execution of this Agreement, all Company property, including building passes, credit cards, keys, telephones, company files, documents, records, computer access codes, computer programs, instruction manuals, business plans, and other property that I received, prepared, or helped to prepare in connection with my employment with the Company.  I also agree that I will not keep and have not kept any copies, duplicates, reproductions, computer disks, or excerpts of any confidential or proprietary Company materials, documents or trade secrets. 

9. Confidential Information.  I will hold in strictest confidence and will not disclose, use, lecture upon or publish any of the Company’s Proprietary Information (defined below), unless an officer of the Company authorizes me to do so in writing.  I will obtain the Company’s written approval before publishing or submitting for publication any material (written, verbal, or otherwise) that relates to my work while at the Company and/or that incorporates any Proprietary Information.  I reaffirm that all Proprietary Information that I may have prepared or acquired during my employment is the sole property of the Company.  The term “Proprietary Information” means and includes all confidential and/or proprietary knowledge, data or information of the Company, including trade secrets, inventions, ideas, processes, formulas, data, programs, know-how, improvements, discoveries, developments and designs and techniques.  It also includes business information regarding plans for research, development, new products, marketing and selling, business plans, budgets and unpublished financial statements, prices and costs, suppliers and customers as well as information regarding the identity, skills and compensation of other employees of the Company. 

10. Statements Concerning the Company.  I agree to refrain from publishing any oral or written statements about the Company or its directors, officers, employees, consultants, agents or representatives that (a) are slanderous, libelous or defamatory, or (b)  place the Company or any of its directors, officers, employees, consultants, agents or representatives in a false light before the public.  The foregoing shall not be violated by truthful statements in response to legal process, required governmental testimony or filings, or administrative or arbitral proceedings (including, without limitation, depositions in connection with such proceedings).  A violation or threatened violation of this prohibition may be enjoined by the courts.  The rights afforded to the Company under this provision are in addition to any and all rights and remedies otherwise afforded by law.

 
11.Update Social Media Sites.  Within five days following my Separation Date, I will update any social networking sites, including, but not limited to, Twitter, Facebook, and LinkedIn, to indicate that I am no longer employed by or affiliated with the Company.  

12.Non-solicitation.  I agree that from and after the date I receive this Agreement and for one (1) year after my Separation Date, I will not, either directly or through others, (a) solicit or 
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attempt to solicit, or assist any other person in soliciting, any employee of the Company to end his or her relationship with the Company; (b) recruit, hire or attempt to recruit or hire, or assist any other person in recruiting or hiring, any employee of the Company for a competing business; or (c) solicit, or assist any other person in soliciting, any consultant, vendor, contractor or customer of the Company, with whom I had contact or whose identity I learned as a result of my employment with the Company, to materially diminish or alter its relationship with the Company. I also will not provide the names or any other information about any employees of the Company to any person, recruiter or competing business. I understand and agree that for purposes of this Agreement, a customer is any person or entity to which the Company has provided goods or services at any time during the two (2) year period before my Separation Date.

13.Non-Competition.  Throughout my employment, the Company provided me with access to its Proprietary Information.  I acknowledge and agree that I will know the Competitors as of the Separation Date.  Further, I acknowledge and agree that I have voluntarily agreed to the covenants set forth in this Paragraph 13.  I further agree and acknowledge that the limitations and restrictions set forth herein, including geographical and temporal restrictions on certain competitive activities, are reasonable in all respects and not oppressive, shall not cause me undue hardship, and are material and substantial parts of this Agreement intended and necessary to prevent unfair competition and to protect the Company’s Proprietary Information, goodwill and substantial and legitimate business interests.

a.I agree that for a twelve (12) month period following my Separation Date, I will not, without the prior written approval of the Chief Executive Officer of the Company, directly or indirectly, for myself or on behalf of or in conjunction with any other person or entity of any nature:

 
     i. Directly or indirectly own, manage, operate, join, become an officer, director, employee or consultant of, or otherwise be affiliated with any Competitor in the Market Area; or

   ii. Appropriate any Business Opportunity of, or relating to, the Company located in the Market Area.

b.The covenants in this Paragraph 13, and each provision and portion hereof, are severable and separate, and the unenforceability of any specific covenant (or portion thereof) shall not affect the provisions of any other covenant (or portion thereof).  Moreover, in the event any arbitrator or court of competent jurisdiction shall determine that the scope, time or territorial restrictions set forth are unreasonable, then it is the intention of the parties that such restrictions be enforced to the fullest extent which such arbitrator or court deems reasonable, and this Agreement shall thereby be reformed.

c.For purposes of this Paragraph 13, the following terms shall have the following meanings:

i.“Business Opportunity” shall mean any commercial, investment or other business opportunity relating to the Company.

ii.“Competitor” shall mean any direct competitor to the Company’s refinery business, which shall include the refining of petroleum regardless of the end product (whether gasoline, diesel fuel, jet fuel, specialty lubricant products, specialty and modified asphalt or other refined products) as of the Separation Date.  
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iii.“Market Area” shall mean the United States and Canada.

14.Applicable Law.  The laws of the State of Texas apply to this Agreement.

15.Enforceability.  This Agreement is valid, even if any section or term is not enforceable.  In the event that any one or more of the provisions contained in this Agreement shall for any reason be held to be unenforceable under the governing law, the rest of the Agreement shall continue to apply.  

16.Waiver of Right to a Trial by Jury.  I understand that pursuant to this Agreement, I am giving up my right to a trial by jury.  The Company also waives its right to a trial by jury.  However, I recognize and agree that the Company may seek to enforce the provisions contained in Paragraphs 9, 10, 12 and 13 through injunctive relief and/or damages, in a court of competent jurisdiction. 

17.Successors and Assigns. This Agreement is binding upon my heirs, executors, administrators and other legal representatives and will be for the benefit of the Company and their successors and assigns.   

18.Entire Agreement.  This Agreement contains the entire agreement between the Company and me concerning the separation of my employment, except as set forth in Paragraph 7 above.  In deciding to sign this Agreement, I am not relying on any statements or promises except those found in this Agreement.  Except as set forth in Paragraph 7 above, this Agreement replaces any prior agreements between the Company and me dealing with the same subjects. 

19.Consultation with an Attorney.  The Company has advised me to consult with an attorney, at my own expense, before signing this Agreement, and I have had the opportunity to do so. 

20.Reaffirmation.  If asked by the Company to re-execute and reaffirm my obligations under this Agreement (including the release of claims) on or after my Separation Date, I agree to do so as one of my obligations under this Agreement and as a condition of receiving the Separation Benefits set forth on Attachment A. 

21.Consideration and Cancellation of this Agreement.  I understand that, pursuant to the Older Workers Benefit Protection Act of 1990 (OWBPA), I have the right to consult an attorney at my own expense before signing this Agreement, and the Company has advised me to consult an attorney; I have at least twenty-one (21) calendar days from the date I receive this Agreement to consider the Agreement before signing it; I may change my mind and cancel the Agreement within seven (7) calendar days after signing it; and that the Agreement shall not go into effect until then.  If I decide to cancel this Agreement, I understand that the Company must receive written notice of my decision before the seven (7) calendar day period expires.  I must provide that notice to the HR Contact identified on Attachment A before the time period expires. 

22.MMSEA.  I have not, as of today, incurred any medical expenses as a Medicare beneficiary, and am not aware of any medical expenses that Medicare has paid on my behalf and for which the Company may be liable.

23.Mediation and Arbitration.  With the exception of any alleged violation of Paragraph 9, 10, 12 or 13 of this Agreement, any other controversy, dispute or claim arising out of or relating to this Agreement or its breach will first be settled through good faith negotiation.  If the dispute cannot be settled through negotiation, we agree to attempt in good faith to settle the dispute by mediation administered by JAMS.  If we are 
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unsuccessful at resolving the dispute through mediation, we agree to binding arbitration administered by JAMS pursuant to its Employment Arbitration Rules & Procedures and subject to JAMS Policy on Employment Arbitration Minimum Standards of Procedural Fairness.  Judgment on the award may be entered in any court having jurisdiction.

24.Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which shall constitute one or same instrument.  Electronic copies of signatures shall be deemed to be original.

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BY SIGNING THIS AGREEMENT, I STATE THAT: (A) THE COMPANY ADVISED ME TO CONSULT AN ATTORNEY, AT MY OWN EXPENSE, AND THAT I HAVE HAD AN OPPORTUNITY TO CONSIDER THIS, BEFORE SIGNING THIS AGREEMENT; (B) I UNDERSTAND THAT IN ORDER TO RECEIVE THE SEPARATION BENEFITS UNDER THIS AGREEMENT, I MUST SIGN AND RETURN THIS AGREEMENT NO LATER THAN TWENTY-ONE (21) DAYS AFTER I RECEIVE IT; (C) I UNDERSTAND THAT I HAVE SEVEN (7)  DAYS TO REVOKE THIS AGREEMENT AFTER SIGNING IT, PURSUANT TO PARAGRAPH 21 ABOVE; AND (D) THIS AGREEMENT IS WRITTEN IN A CLEAR AND STRAIGHT-FORWARD MANNER, THAT I UNDERSTAND ITS TERMS, AND THAT I HAVE MADE A VOLUNTARY DECISION TO SIGN IT.

Agreed to and accepted by, on this 15th     day of     September    , 2022.

    EMPLOYEE:

    /s/Richard L. Voliva III
    Richard L. Voliva III

Agreed to and accepted by, on this 15th     day of    September    , 2022.

    HF Sinclair Corporation 
    HollyFrontier Corporation 
    HollyFrontier Payroll Services, Inc.
    Holly Logistic Services, L.L.C.
            

    /s/Michael C. Jennings
    Michael C. Jennings
    Chief Executive Officer

    Holly Energy Partners, L.P.
    By: HEP Logistics Holdings, L.P.
    By: Holly Logistic Services, L.L.C.

    /s/Michael C. Jennings
    Michael C. Jennings
    Chief Executive Officer

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ATTACHMENT A

Employee Name:             Richard L. Voliva III

Job Title:     Executive Vice President and Chief Financial Officer of HF Sinclair Corporation
                    President of Holly Logistic Services, L.L.C.  

Separation Date:     September 15, 2022

Local HR Contact:    Dale Kunneman

Separation Benefits

The payment (and continued payment) of the benefits described in this section are conditioned upon your execution, and non-revocation of this Separation Agreement and Release of Claims, and upholding the covenants of the Agreement.  

Separation Pay:    $715,000

The Separation Pay will be paid by HFS in monthly installments of $59,583.33 per month and paid over a twelve (12) month period beginning on the eighth day following the date of your execution of this Agreement (and only if you have not revoked this Agreement within the seven-day period described in Paragraph 21 of this Agreement) and then each month thereafter.  The Separation Pay will be reported on a Form W-2 and is subject to taxes and other withholdings.  Breach of this Agreement will forfeit any continued payment of the Separation Pay.  

Additional Separation Pay:        $100,000

The Additional Separation Pay will be paid within 30 days of the execution of this Agreement (and only if you have not revoked this Agreement within the seven-day period described in Paragraph 21 of this Agreement).  The Additional Separation Pay will be reported on a Form W-2 and is subject to taxes and other withholdings.  

Bonus:     

You will receive a bonus from each of HFS and HEP based on your service during the current performance period for your position at each company.  The bonus for both HFS and HEP will be 150% of your target resulting in a bonus of $965,250 to be paid by HFS and a bonus of $600,000 to be paid by HEP.  The bonuses will be payable to you within 30 days of the execution of this Agreement and reported on a Form W-2 and are subject to taxes and other withholdings.  

Vesting of Long-Term Incentive Awards:

Restricted Stock Units
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On the eighth day following the date of your execution of this Agreement (and only if you do not revoke this Agreement within the seven-day period described in Paragraph 21 of this Agreement), you will become fully vested in, and the restrictions will lapse on, the following awards of restricted stock units granted to you by HFS and shall be payable in shares of common stock of HFS:

Grant Date        Restricted Stock Units that Vest
November 13 2019        4,257
November 10, 2020        11,538
November 9, 2021        8,158                                    
Performance Share Units

On the eighth day following the date of your execution of this Agreement (and only if you do not revoke this Agreement within the seven-day period described in Paragraph 21 of this Agreement), you will become fully vested in, and the restrictions will lapse on, the following performance share units granted to you by HFS and shall be payable in shares of common stock of HFS:

Grant Date        Performance Stock Units that Vest
November 13 2019        15,033
November 10, 2020        25,780
November 9, 2021        8,158                            

You acknowledge that the performance share units are being settled at 100% target (in the amounts set forth above), and you will not be entitled to any additional shares based on certification of the performance goals set forth in the applicable award agreement by the Compensation Committee at a later date.  

Phantom Units

On the eighth day following the date of your execution of this Agreement (and only if you do not revoke this Agreement within the seven-day period described in Paragraph 21 of this Agreement), you will become fully vested in, and the restrictions will lapse on, the following awards of phantom units granted to you by HEP and shall be payable in common units of HEP:

Grant Date        Phantom Units that Vest
October 29, 2020        14,956    

General

Settlement of these restricted stock units, phantom units and performance units set forth above will be subject to tax withholdings and reported as income on a Form W-2.  All remaining unvested restricted stock units, phantom units and performance share units will be forfeited.
  
Unconditional Benefits

COBRA Coverage:
If you wish to participate in COBRA, and to the extent you are otherwise eligible, you have 60 days from the termination of your current health benefits to make your election.  You will be solely responsible for making a timely COBRA election and for paying all COBRA premiums in a timely manner.  Please note that COBRA rates may change, and that the Company reserves the right to modify or replace benefit plans.  
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You will receive in the mail from TaxSaver after your Separation Date, documents describing the COBRA health benefits available to you.  You will need to review the documents and elect COBRA during your eligible enrollment period if desired.  If you elect to continue health benefits through COBRA, it will be your responsibility to pay the required premiums in a timely manner.  
Life Insurance and Accidental Death and Dismemberment Coverage:
The Prudential Life and AD&D products/coverage may be converted from group to individual coverage.  To do so, you must apply directly to the insurance provider within thirty days after you lose coverage.  Forms to convert to an individual policy will be mailed to you by Prudential.

Accrued and Unused Vacation Time:
You will receive from HFS the cash value of any accrued and remaining unused vacation as of your Separation Date, which will be payable to you and reported on a Form W-2, subject to taxes and other withholding, within thirty days after your Separation Date.

401(k) Plan:
If you are a participant in the 401(k) Retirement Plan, the applicable plan rules will govern your options with respect to managing your account balance and/or receiving distributions, as applicable, under the plan.  You may also contact Principal at 1-800-547-7754 if you have any general questions concerning options after retirement.

Non-Qualified Deferred Compensation Plan:
As a participant in the Non-Qualified Deferred Compensation Plan, the irrevocable election you have previously made regarding the treatment of your account balance at the time of retirement will govern the treatment of your account balance.  You may also contact Principal at 1-800-999-4031 if you have any general questions concerning options after retirement. 

Taxes:
All amounts payable will be subject to all applicable tax withholdings.  

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Exhibit 10.4

FIRST AMENDMENT 
TO EIGHTH AMENDED AND RESTATED 
MASTER THROUGHPUT AGREEMENT

    This First Amendment to Eighth Amended and Restated Master Throughput Agreement (this “Amendment”) is entered into on October 28, 2022, to be effective as of November 1, 2022 (the “First Amendment Effective Date”) by and among:

1.HollyFrontier Refining & Marketing LLC, a Delaware limited liability company (“HFRM”),

2.Sinclair Oil LLC, a Wyoming limited liability company (“Sinclair”), and

3.Holly Energy Partners – Operating, L.P., a Delaware limited partnership (“HEP Operating”).

Each of HFRM, Sinclair and HEP Operating are individually referred to herein as a “Party” and collectively as the “Parties.”

WHEREAS, HFRM, Sinclair and HEP Operating are parties to that certain Eighth Amended and Restated Master Throughput Agreement, effective as of March 14, 2022 (the “Agreement”); and

WHEREAS, the Parties desire to amend the Agreement to, among other things, remove Sinclair as a party thereto with respect to the Sinclair Assets (as defined therein). 

NOW, THEREFORE, in consideration of the covenants and obligations contained herein, the Parties hereby agree as follows: 

ARTICLE 1
AMENDMENTS

1.1.Amendment to Preamble. The reference to “HOLLYFRONTIER REFINING & MARKETING LLC (“HFRM”)” in the preamble to the Agreement is hereby replaced with “HF SINCLAIR REFINING & MARKETING LLC (“HFRM”)”.

1.2.Amendments to Article 2.
 
a.Section 2.1, the first sentence of Section 2.2 and Section 2.2(a) of the Agreement are hereby amended by removing all references to Sinclair therein. 

b.Section 2.2(b) of the Agreement is hereby amended and restated in its entirety as follows:

“(b)    Applicable Tariffs.  HFRM shall pay (i) the applicable Base Tariffs for all quantities of its Product transported, stored or loaded at, on or through the Applicable Assets in each Contract Quarter during the Applicable Term up to and including the applicable Incentive Tariff Threshold for such Applicable Asset set forth on Exhibit C, (ii) the applicable Incentive Tariff for quantities in excess of the Incentive Tariff Threshold and, (iii) if applicable, the Excess Tariff for the Applicable Asset for quantities in excess of the Excess Tariff Threshold.  HFRM shall pay the applicable fees for all quantities of its Product transported, stored or loaded at, on or through the HFRM Refined Products Terminals and the Sinclair Refined Products Terminals in each 
			
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Contract Quarter during the Applicable Term set forth on Exhibit N-2 and Exhibit R-2.”   

c.Sections 2.2(d), 2.5, 2.6, 2.7, 2.8, 2.10, 2.11, 2.12, 2.14 and 2.15 of the Agreement are hereby amended by removing all references to Sinclair therein. 

1.3.Amendments to Articles 3-6 and Article 8.
a.Article 3 of the Agreement is hereby amended by removing all references to Sinclair therein. 

b.Article 4 of the Agreement is hereby amended by (1) removing all references to Sinclair therein and (2) removing the reference to the Sinclair Refinery and replacing it with “Parco Refinery”.

c.Article 5 of the Agreement is hereby amended by removing all references to Sinclair therein.

d.Article 6 of the Agreement is hereby amended by removing all references to Sinclair therein.

e.Sections 8.1 and 8.2 of the Agreement are hereby amended by removing all references to Sinclair therein.

1.4.Amendments to Article 10. 
a.Article 10 of the Agreement is hereby amended and restated in its entirety to read as follows: 

“10.1     Deficiency Notice; Deficiency Payments.  As soon as practicable following the end of each Contract Quarter under this Agreement, HEP Operating shall deliver to HFRM a written notice (the “Deficiency Notice”) detailing any failure of HFRM to meet any of its Minimum Revenue Commitments set forth on Exhibit C; provided, however, that HFRM’s obligations pursuant to the Minimum Revenue Commitment shall be assessed on a quarterly basis for the purposes of this Article 10.  Notwithstanding the previous sentence, any deficiency owed by HFRM due to its failure to satisfy any Minimum Revenue Commitment, if any, set forth on Exhibit C, as to any Applicable Asset for a Contract Quarter shall be offset by any revenue owed to HEP Operating in excess of any Minimum Revenue Commitment for such Contract Quarter set forth on Exhibit C from any other Applicable Asset at the same location.  The Deficiency Notice shall (i) specify in reasonable detail the nature of any deficiency and (ii) specify the approximate dollar amount that HEP Operating believes would have been paid by HFRM to HEP Operating if HFRM had complied with its Minimum Revenue Commitment obligations pursuant to this Agreement (the “Deficiency Payment”).  HFRM shall pay its Deficiency Payment to HEP Operating upon the later of: (A) ten (10) days after its receipt of the Deficiency Notice and (B) thirty (30) days following the end of the related Contract Quarter.

10.2    Disputed Deficiency Notices.  If HFRM disagrees with the Deficiency Notice, then, following the payment of the undisputed portion of the Deficiency Payment to HEP Operating, if any, HFRM shall send written notice thereof regarding the disputed portion of the Deficiency Payment to HEP Operating.  Thereafter, a senior officer of HF Sinclair (on behalf of HFRM) and a senior officer of the Partnership (on behalf of HEP Operating) 
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shall meet or communicate by telephone at a mutually acceptable time and place, and thereafter as often as they reasonably deem necessary and shall negotiate in good faith to attempt to resolve any differences that they may have with respect to matters specified in the Deficiency Notice.  During the 30-day period following the payment of the Deficiency Payment, HFRM shall have access to the working papers of HEP Operating relating to its Deficiency Notice.  If such differences are not resolved within thirty (30) days following HFRM’s receipt of its Deficiency Notice, HFRM and HEP Operating shall, within forty-five (45) days following HFRM’s receipt of the Deficiency Notice, submit any and all matters which remain in dispute and which were properly included in the Deficiency Notice to dispute resolution in accordance with the Omnibus Agreement.

10.3    Payment of Amounts No Longer Disputed.  If it is finally determined pursuant to this Article 10 that HFRM is required to pay any or all of the disputed portion of the Deficiency Payment, HFRM shall promptly pay such amount to HEP Operating, together with interest thereon at the Prime Rate, in immediately available funds.

10.4    Contract Quarters Independent.  The fact that HFRM has exceeded or fallen short of the Minimum Revenue Commitment with respect to any Contract Quarter shall not be considered in determining whether HFRM meets, exceeds or falls short of the Minimum Revenue Commitment with respect to any other Contract Quarter, and the amount of any such excess or shortfall shall not be counted towards or against the Minimum Revenue Commitment with respect to any other Contract Quarter.”

1.5.Amendments to Articles 12 and 13. 
a.Section 12.1 of the Agreement is hereby amended by removing all references to Sinclair therein.

b.Section 13.2(b) of the Agreement is hereby amended and restated in its entirety to read as follows: 
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“13.2    Successors and Assigns.  This Agreement shall inure to the benefit of, and shall be binding upon, the Parties and their respective successors and permitted assigns.  Neither this Agreement nor any of the rights or obligations hereunder shall be assigned without the prior written consent of HFRM (in the case of any assignment by HEP Operating) or HEP Operating (in the case of any assignment by HFRM), in each case, such consent is not to be unreasonably withheld or delayed; provided, however, that (i) HEP Operating may make such an assignment (including a partial pro rata assignment) to an Affiliate of HEP Operating without HFRM’s consent, (ii) HFRM may make such an assignment (including a pro rata partial assignment) to an Affiliate of HFRM without HEP Operating’s consent, (iii) HFRM may, without HEP Operating’s prior written consent, make a partial assignment to any third party that acquires assets of HF Sinclair that rely on the services provided by HEP Operating on the HFRM Refined Products Pipelines, the HFRM Refined Products Terminals, the Sinclair Refined Products Pipelines or the Sinclair Refined Products Terminals if such Person (1) is reasonably capable of performing HFRM’s obligations (or its pro rata portion of such obligations) under this Agreement assigned to such Person, which determination shall be made by HFRM in its reasonable judgment and (2) has agreed in writing to assume the obligations of HFRM assigned to such Person, (iv) HEP Operating may, without HFRM’s prior written consent, make a partial assignment to any third party that acquires any of the HFRM Refined Products Pipelines, HFRM Refined Products Terminals, Sinclair Refined Products Pipelines or Sinclair Refined Products Terminals if such Person (1) is reasonably capable of performing HEP Operating’s obligations (or its pro rata portion of such obligations) under this Agreement assigned to such Person, which determination shall be made by HEP Operating in its reasonable judgment and (2) has agreed in writing to assume the obligations of HEP Operating assigned to such Person, (v) HFRM may make a collateral assignment of its rights and obligations hereunder and/or grant a security interest in its rights and obligations hereunder, and HEP Operating shall execute an acknowledgement of such collateral assignment in such form as may from time-to-time be reasonably requested, and (vi) HEP Operating may make a collateral assignment of its rights hereunder and/or grant a security interest in its rights and obligations hereunder to a bona fide third party lender or debt holder, or trustee or representative for any of them, without HFRM’s consent, if such third party lender, debt holder or trustee shall have executed and delivered to HFRM a non-disturbance agreement in such form as is reasonably satisfactory to HFRM and such third party lender, debt holder or trustee, and HFRM executes an acknowledgement of such collateral assignment in such form as may from time to time be reasonably requested.  Any attempt to make an assignment otherwise than as permitted by the foregoing shall be null and void.  The Parties agree to require their respective successors, if any, to expressly assume, in a form of agreement reasonably acceptable to the other Parties, their obligations under this Agreement.”

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1.6.Amendments to Articles 14 and 15.

a.Sections 14.1, 14.2, 14.2(c), 14.2(d), 14.3, 14.4, 14.5, 14.6, 14.7 and 14.8 of the Agreement are hereby amended by removing all references to Sinclair therein.

b.Sections 15.1, 15.2(a), 15.2(c), 15.3, 15.6 and 15.7 of the Agreement are hereby amended by removing all references to Sinclair therein.

1.7.Amendments to Exhibit A.
a.Exhibit A of the Agreement is hereby amended by removing the reference to Sinclair contained within the definition of “Affiliates”.

b.Exhibit A of the Agreement is hereby amended by removing the definition of “Casper Refinery” and replacing it as follows:

““Casper Refinery” means the refinery owned by HF Sinclair Casper Refining LLC (f/k/a Sinclair Casper Refining Company LLC) and located in Casper, Wyoming.”

c.Exhibit A of the Agreement is hereby amended by removing the definition of “El Dorado Refinery” and replacing it as follows:

““El Dorado Refinery” means the refinery owned by HF Sinclair El Dorado Refining LLC (f/k/a HollyFrontier El Dorado Refining LLC) and located in El Dorado, Kansas.”

d.Exhibit A of the Agreement is hereby amended by removing the definition of “HFRM and Sinclair Payment Obligations” and replacing it as follows:

““HFRM Payment Obligations” has the meaning set forth in Section 14.1.”

e.Exhibit A of the Agreement is hereby amended by removing the definition of “HollyFrontier Navajo” and replacing it as follows:

““HollyFrontier Navajo” means HF Sinclair Navajo Refining LLC (f/k/a HollyFrontier Navajo Refining LLC).”

f.Exhibit A of the Agreement is hereby amended by removing the definition of “HollyFrontier Tulsa” and replacing it as follows:

““HollyFrontier Tulsa” means HF Sinclair Tulsa Refining LLC (f/k/a HollyFrontier Tulsa Refining LLC.”

g.Exhibit A of the Agreement is hereby amended by adding the definition of “Parco Refinery” as follows: 

““Parco Refinery” means the refinery owned by HF Sinclair Parco Refining LLC (f/k/a Sinclair Wyoming Refining Company LLC) and located in Sinclair, Wyoming.” 

h.Exhibit A of the Agreement is hereby amended by removing the definition of “Refineries” and replacing it as follows:

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““Refineries” means the Navajo Refinery; the El Dorado Refinery; the Tulsa East Refinery, the Tulsa West Refinery, the Casper Refinery and the Parco Refinery.”

i.Exhibit A of the Agreement is hereby amended by removing the definition of “Sinclair Crude Offloading Racks” and replacing it as follows:

““Sinclair Crude Offloading Racks” means those certain truck offloading racks, located at each of the at Casper Refinery, Parco Refinery and Guernsey Terminal.”

j.Exhibit A of the Agreement is hereby amended by removing the definition of “Sinclair Crude Oil Pipelines” and replacing it as follows:

““Sinclair Crude Oil Pipelines” means collectively, (a) the Sinclair Pathfinder and 10” Pipeline, (b) the Sinclair Pathfinder Pumpover Pipeline, (c) the Sinclair Guernsey to Casper Pipeline and (d) the Sinclair Guernsey to Parco Refinery Pipeline.” 

k.Exhibit A of the Agreement is hereby amended by removing the definition of “Sinclair Guernsey to Sinclair Refinery Pipeline” and replacing it as follows:
““Sinclair Guernsey to Parco Refinery Pipeline” has the meaning set forth in Exhibit R-1.”
l.Exhibit A of the Agreement is hereby amended by removing the definition of “Sinclair Refinery”. 

m.Exhibit A of the Agreement is hereby amended by removing the definition of “Sinclair Refined Products Terminals” and replacing it as follows:

““Sinclair Refined Products Terminals” means the terminals described on Exhibit R-2 attached hereto, as such Exhibit may be amended or revised from time-to-time by mutual agreement of HFRM and HEP Operating.”

n.Exhibit A of the Agreement is hereby amended by removing the definition of “Woods Cross Refinery” and replacing it as follows:

““Woods Cross Refinery” means the refinery owned and operated by HF Sinclair Woods Cross Refining LLC (f/k/a HollyFrontier Woods Cross Refining LLC) located at 1070 W. 500 South, West Bountiful, Utah.” 

1.8.Amendments to Exhibit C. 
a.Footnote 4 contained in Exhibit C-3 of the Agreement is hereby amended and restated in its entirety to read as follows:

“Reflects reduction in throughput fee effective January 1, 2015 as a result of the secondment arrangement at the El Dorado refinery.  Also reflects reduction in throughput fee effective January 1, 2017 as a result of the sale of tanks 243 and 244 from El Dorado Logistics LLC to HF Sinclair El Dorado Refining LLC (f/k/a HollyFrontier El Dorado Refining LLC).”

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b.Exhibit C-10 of the Agreement is hereby amended by removing the reference to “Sinclair Guernsey to Sinclair Refinery Pipeline” contained therein and replacing it with “Sinclair Guernsey to Parco Refinery Pipeline”.

c.Exhibit C-11 of the Agreement is hereby amended by removing the reference to “Sinclair Refinery Refined Product Truck Rack” contained therein and replacing it with “Parco Refinery Refined Product Truck Rack”.

1.9.Amendment to Exhibit E-3. 
a.The entry in the “Volumetric Gains and Losses” column with respect to the Sinclair Pipelines contained in Exhibit E-3 of the Agreement is hereby amended and restated in its entirety to read as follows:

“With respect to the Sinclair Pipelines (A) with a published tariff, all product gains and losses will be addressed as provided in such tariff Pipelines or (B) without a published tariff, (1) HFRM or its applicable Affiliate will absorb all volumetric gains and is responsible for all volumetric losses up to a maximum of 0.5% (on a pipeline by pipeline basis), in each case, determined quarterly and (2) HEP Operating or its applicable Affiliate is responsible for all volumetric losses in excess of 0.5% (on a pipeline by pipeline basis), determined quarterly; provided, that gains and losses pursuant to foregoing clause (B) will be calculated for each calendar quarter and offset against each other (on a pipeline by pipeline basis).”

1.10.Amendment to Exhibit F-4. 
a.The entry in the “Threshold” column with respect to the Sinclair Refined Products Terminals contained in Exhibit F-4 of the Agreement is hereby amended and restated in its entirety to read as follows:

“No fees on Exhibit R-2 may be amended until HEP Operating has made capital expenditures of $5,000,000 in the aggregate with respect to the Refined Products Terminals in order to comply with new Applicable Laws.

Thereafter, HEP Operating may amend the applicable fees to recover HFRM’s pro rata share of the cost of complying with the new Applicable Laws and such recovery shall not be limited to amounts in excess of $5,000,000.”

1.11.Amendments to Exhibit R. 
a.Exhibit R-1 of the Agreement is hereby amended by removing the reference to “Sinclair Guernsey to Sinclair Refinery Pipeline” contained therein and replacing it with “Sinclair Guernsey to Parco Refinery Pipeline”.

b.Exhibit R-2 of the Agreement is hereby amended by removing the reference to “Sinclair Refinery Refined Product Truck Rack” contained therein and replacing it with “Parco Refinery Refined Product Truck Rack”.

c.Exhibit R-3 of the Agreement is hereby amended and restated in its entirety to read as follows:

“1.    Deficiency Payments.

    Notwithstanding anything to the contrary in Article 10 of the Agreement, HFRM and HEP Operating agree that deficiency payments with respect to the Sinclair Assets will be credited against any payments owed by 
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HFRM in the following four Contract Quarters in excess of the Minimum Commitment for such Calendar Quarters; provided, however, that HFRM will not receive credit for any deficiency payment in any of the following four Contract Quarters until it has met the Minimum Commitment in the succeeding Contract Quarter.

2.    Tariffs.

If a base tariff or incentive tariff cannot be achieved as set forth in Exhibit C with respect to the Sinclair Assets as a result of federal or state regulatory limitations on ratemaking, HFRM and HEP Operating shall implement alternative tariff structures and/or minimum throughput commitments that produce the same overall commercial result.”

1.12.Withdrawal. For the avoidance of doubt, as of the First Amendment Effective Date, Sinclair will no longer be a party to the Agreement and shall have only those rights, obligations or liabilities that survive termination of the Agreement in accordance with the terms thereof.

ARTICLE 2
MISCELLANEOUS
    
2.1.Counterparts.  This Amendment may be executed in counterparts each of which shall be deemed an original. An executed counterpart of this Amendment transmitted by facsimile shall be equally as effective as a manually executed counterpart. 

2.2.Successors and Assigns. Section 13.2 of the Agreement is hereby incorporated by reference into this Section 2.2, mutatis mutandis.

2.3.Entire Agreement.  The Agreement, as amended by this Amendment, contains the entire agreement between the Parties as to the subject matter of the Agreement and, except as provided for in this Amendment, the terms and provisions of the Agreement shall remain in full force and effect as originally written. 

[Remainder of page intentionally left blank. Signature pages follow.]

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IN WITNESS WHEREOF, the undersigned Parties have executed this Amendment as of the date first written above to be effective as of the First Amendment Effective Date. 

HEP OPERATING:

Holly Energy Partners - Operating, L.P.

By:        /s/ Michael C. Jennings                                           
Name:  Michael C. Jennings
Title:    President and Chief Executive Officer
         

HFRM:

HollyFrontier Refining & Marketing LLC

By:        /s/ Timothy Go                                               
Name:  Timothy Go
Title:    President and Chief Operating Officer

SINCLAIR:

Sinclair Oil LLC

By:        /s/ Timothy Go                                                 
Name:  Timothy Go
Title:    President and Chief Operating Officer

[Signature Page to First Amendment to Eighth Amended and Restated Master Throughput Agreement]
			
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