Document:

EX-10.2

 Exhibit 10.2 

Execution Version 

AMENDED AND RESTATED MASTER TOLLING AGREEMENT 

(Operating Assets) 

Effective as of October 1, 2016 

 TABLE OF CONTENTS 

 

							
	 ARTICLE 1 DEFINITIONS AND INTERPRETATIONS
	  	 	1	  
			
	 1.1
	 	 DEFINITIONS
	  	 	1	  
			
	 1.2
	 	 INTERPRETATION
	  	 	1	  
		
	 ARTICLE 2 AGREEMENT TO PURCHASE SERVICES
	  	 	1	  
			
	 2.1
	 	 INTENT
	  	 	1	  
			
	 2.2
	 	 MINIMUM THROUGHPUT COMMITMENT
	  	 	1	  
			
	 2.3
	 	 MEASUREMENT AND OWNERSHIP OF
DELIVERED VOLUMES
	  	 	3	  
			
	 2.4
	 	 OBLIGATIONS OF HEP OPERATING
	  	 	3	  
			
	 2.5
	 	 NOTIFICATION OF UTILIZATION
	  	 	3	  
			
	 2.6
	 	 SCHEDULING AND ACCEPTING
MOVEMENT
	  	 	3	  
			
	 2.7
	 	 TAXES
	  	 	3	  
			
	 2.8
	 	 TIMING OF PAYMENTS
	  	 	3	  
			
	 2.9
	 	 INCREASES IN TOLLING
FEES
	  	 	4	  
			
	 2.10
	 	 NO GUARANTEED MINIMUM
	  	 	4	  
		
	 ARTICLE 3 FORCE MAJEURE
	  	 	4	  
		
	 ARTICLE 4 EFFECTIVENESS AND APPLICABLE TERM
	  	 	4	  
		
	 ARTICLE 5 NOTICES
	  	 	5	  
		
	 ARTICLE 6 DEFICIENCY PAYMENTS
	  	 	5	  
			
	 6.1
	 	 DEFICIENCY NOTICE; DEFICIENCY
PAYMENTS
	  	 	5	  
			
	 6.2
	 	 DISPUTED DEFICIENCY NOTICES
	  	 	5	  
			
	 6.3
	 	 PAYMENT OF AMOUNTS NO
LONGER DISPUTED
	  	 	6	  
			
	 6.4
	 	 CONTRACT QUARTERS INDEPENDENT
	  	 	6	  
		
	 ARTICLE 7 RIGHT OF FIRST REFUSAL
	  	 	6	  
		
	 ARTICLE 8 INDEMNITY; LIMITATION OF DAMAGES
	  	 	6	  
			
	 8.1
	 	 INDEMNITY; LIMITATION OF
LIABILITY
	  	 	6	  
			
	 8.2
	 	 SURVIVAL
	  	 	6	  

  
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	 ARTICLE 9 MISCELLANEOUS
	  	 	6	  
			
	 9.1
	 	 AMENDMENTS AND
WAIVERS
	  	 	6	  
			
	 9.2
	 	 SUCCESSORS AND
ASSIGNS
	  	 	7	  
			
	 9.3
	 	 SEVERABILITY
	  	 	7	  
			
	 9.4
	 	 CHOICE OF LAW
	  	 	7	  
			
	 9.5
	 	 RIGHTS OF LIMITED
PARTNERS
	  	 	7	  
			
	 9.6
	 	 FURTHER ASSURANCES
	  	 	7	  
			
	 9.7
	 	 HEADINGS
	  	 	8	  
		
	 ARTICLE 10 GUARANTEE BY HOLLYFRONTIER
	  	 	8	  
			
	 10.1
	 	 PAYMENT GUARANTY
	  	 	8	  
			
	 10.2
	 	 GUARANTY ABSOLUTE
	  	 	8	  
			
	 10.3
	 	 WAIVER
	  	 	9	  
			
	 10.4
	 	 SUBROGATION WAIVER
	  	 	9	  
			
	 10.5
	 	 REINSTATEMENT
	  	 	9	  
			
	 10.6
	 	 CONTINUING GUARANTY
	  	 	9	  
			
	 10.7
	 	 NO DUTY TO PURSUE
OTHERS
	  	 	9	  
		
	 ARTICLE 11 GUARANTEE BY THE PARTNERSHIP
	  	 	9	  
			
	 11.1
	 	 PAYMENT AND PERFORMANCE
GUARANTY
	  	 	9	  
			
	 11.2
	 	 GUARANTY ABSOLUTE
	  	 	10	  
			
	 11.3
	 	 WAIVER
	  	 	10	  
			
	 11.4
	 	 SUBROGATION WAIVER
	  	 	10	  
			
	 11.5
	 	 REINSTATEMENT
	  	 	11	  
			
	 11.6
	 	 CONTINUING GUARANTY
	  	 	11	  
			
	 11.7
	 	 NO DUTY TO PURSUE
OTHERS
	  	 	11	  

  
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 EXHIBITS 
  

					
	 Exhibit A
	 	–	 	Parties
	 Exhibit B
	 	–	 	Drop Down Transactions
	 Exhibit C
	 	–	 	Applicable Assets; Minimum Throughput Commitment; Tolling Fees and Adjustments; Applicable Term
	 Exhibit D
	 	–	 	Definitions
	 Exhibit E
	 	-	 	Interpretations
	 Exhibit F
	 	-	 	Measurement of Delivered Volumes
	 Exhibit G
	 	-	 	Increase in Tolling Fees as a Result of Changes in Applicable Law

  
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 AMENDED AND RESTATED MASTER TOLLING AGREEMENT 

(Operating Assets) 
 This
Amended and Restated Master Tolling Agreement (this “Agreement”) is dated as of October 3, 2016, to be effective as of the Effective Time (as defined below) by and between the Persons set forth on Exhibit A (each
hereinafter sometimes referred to as a “Party” and sometimes collectively referred to as the “Parties”). 

RECITALS: 
 A. Pursuant to
certain transactions identified on Exhibit B (the “Drop-Down Transactions”) HEP Operating acquired from each Applicable Refinery Owner the assets identified on Exhibit C (the “Applicable Assets”) which
are located at each Refinery Complex. 
 B. In connection with each transaction between HEP Operating and the Applicable Refinery Owner, HEP
Operating leased from the Applicable Refinery Owner land at the Applicable Refinery Owner’s Refinery Complex on which all or a part of the Applicable Assets are located. 

C. The Parties desire to enter into a master agreement pursuant to which HEP Operating will provide certain services to the Applicable
Refinery Owner with respect to the Applicable Assets from and after the Effective Time. 
 NOW, THEREFORE, in consideration of the covenants
and obligations contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: 

ARTICLE 1 
 DEFINITIONS
AND INTERPRETATIONS 
 1.1 Definitions. Capitalized terms used throughout this Agreement and not otherwise defined herein shall
have the meanings set forth on Exhibit D. 
 1.2 Interpretation. Matters relating to the interpretation of this Agreement are
set forth on Exhibit E. 
 ARTICLE 2 

AGREEMENT TO PURCHASE SERVICES 

2.1 Intent. The Parties intend to be strictly bound by the terms set forth in this Agreement, which sets forth the Tolling Fees to be
paid by the Applicable Refinery Owner to HEP Operating for providing certain processing services to the Applicable Refinery Owner. 
 2.2
Minimum Throughput Commitment. During the Applicable Term and subject to the terms and conditions of this Agreement, each Applicable Refinery Owner agrees as follows: 

(a) Throughput Commitment. Subject to Article 2, the Applicable Refinery Owner commits to deliver to HEP Operating at the
location of each Applicable Asset the Minimum Throughput Commitment of Feedstock for each Contract Quarter, and pay the Tolling Fees in exchange for HEP Operating providing the services necessary to process the Feedstock into the Products. 

  
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 (b) Tolling Fees. The Applicable Refinery Owner shall pay the Tolling Fees for all
quantities of Feedstock processed through the Applicable Asset in each Contract Quarter during the Applicable Term. 
 (c) Adjustment of
Tolling Fees. The Tolling Fees shall be adjusted in the manner set forth on Exhibit C. To evidence the Parties’ agreement to each adjusted Tolling Fee, the Parties shall execute an amended, modified, revised or updated Exhibit
C and attach it to this Agreement. Such amended, modified, revised or updated Exhibit C shall be sequentially numbered (e.g. Exhibit C-1, Exhibit C-2, etc.), dated and appended as an additional exhibit to this
Agreement and shall replace the prior version of Exhibit C in its entirety, after its date of effectiveness. 
 (d) Reduction for
Non-Force Majeure Events. 
 (1) If, as a result of HEP Operating’s operational difficulties or inability to
provide sufficient capacity for the Minimum Throughput Commitment, HEP Operating fails to process and deliver to the Applicable Refinery Owner at least 95% of the volumes of Products expected to be derived from the volume of Feedstock processed with
such Applicable Asset for a particular Contract Quarter based on the applicable Conversion Ratio, then the Tolling Fee applicable to that Contract Quarter will be reduced by a percentage equal to (A) 100% minus (B) the percentage
represented by the ratio of (i) the volume of Products actually produced for the Contract Quarter to (ii) the volume of Products that would be produced from the volume of Feedstock delivered for the Contract Quarter based on the Conversion
Ratio plus (C) 5%. 
 (2) If the Aggregate Capacity of any Applicable Asset for any Contract Quarter is less than the
Minimum Throughput Commitment for such Applicable Asset for such Contract Quarter, including any time period during which HEP Operating is performing a turnaround on the Applicable Asset, then the Minimum Throughput Commitment for such Applicable
Asset for such Contract Quarter will be reduced by a percentage equal to (A) 100% minus (B) the percentage represented by the ratio of (i) the Aggregate Capacity for such Applicable Asset for such Contract Quarter to (ii) the
Minimum Throughput Commitment for such Applicable Asset for such the Contract Quarter. 
 If, as a result of a reduction to the Tolling Fee
or Minimum Throughput Commitment for a Contract Quarter under this Section 2.2(d) the Applicable Refinery Owner shall have overpaid its Tolling Fees for the Contract Quarter, the Applicable Refinery Owner shall receive a credit against
its Tolling Fees or other obligations to HEP Operating as provided in Exhibit C. This Section 2.2(d) shall not apply in the event HEP Operating gives a Force Majeure Notice in accordance with the terms of
Article IX of the Omnibus Agreement, in which case the Minimum Throughput Commitment shall be suspended to the extent contemplated in Article IX of the Omnibus Agreement and Article 3 of this Agreement. 

(e) Pro-Rationing for Partial Periods. Notwithstanding the other provisions of this Section 2.2, in the event that the
Effective Time is any date other than the first day of a Contract Quarter, then the Minimum Throughput Commitment for the initial partial Contract Quarter shall be prorated based upon the number of actual days between the date on which the Effective
Time occurs and the end of such partial Contract Quarter. Similarly, notwithstanding the other provisions of this Section 2.2, if the end of the Applicable Term is on a day other than the last day of a Contract Quarter, then the Minimum
Throughput Commitment shall be prorated based upon the number of actual days between the beginning of such partial Contract Quarter and the last day of the Applicable Term. 

  
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 2.3 Measurement and Ownership of Delivered Volumes. Matters with respect to the
measurement of delivered volumes of Feedstock and Products are set forth on Exhibit F. Applicable Refinery Owner shall at all times retain title to the Feedstock and the Products. 

2.4 Obligations of HEP Operating. During the Applicable Term and subject to the terms and conditions of this Agreement, HEP Operating
agrees to: 
 (a) own or lease, operate and maintain (directly or through a Subsidiary) the Applicable Assets and all related
assets necessary to process the applicable Feedstock and produce and deliver the applicable Products to the Applicable Refinery Owner at the throughput levels required by this Agreement; 

(b) provide the services required under this Agreement and perform all operations relating to the Applicable Assets; and 

(c) maintain adequate property and liability insurance covering the Applicable Assets and any related assets owned by HEP
Operating or its Affiliates and necessary for the operation of the Applicable Assets. 
 Notwithstanding the first sentence of this Section 2.4,
subject to right of first refusal under Article V the Omnibus Agreement, HEP Operating or its Affiliate is free to sell any of its assets, including any Applicable Assets, and the Applicable Refinery Owner is free to merge with another
entity and to sell all of its assets or equity to another entity at any time. 
 2.5 Notification of Utilization of Services. During
the Applicable Term, the Applicable Refinery Owner will provide to HEP Operating written notification of the Applicable Refinery Owner’s reasonable good faith estimate of its anticipated future volumes of Feedstock to be delivered and the
Applicable Refinery Owners’ requirements for Products as soon as reasonably practicable. 
 2.6 Scheduling and Accepting
Movement. HEP Operating will use its reasonable commercial efforts to process, and schedule movement and accept movements of, Feedstocks in a manner that is consistent with the historical dealings between the Parties and their Affiliates, as
such dealings may change from time to time. 
 2.7 Taxes. The Applicable Refinery Owner will pay all taxes, import duties, license
fees and other charges by any Governmental Authority levied on or with respect to the Feedstocks processed and Products delivered to the Applicable Refinery Owner by HEP Operating. HEP Operating will pay all property and ad valorem taxes levied on,
or with respect to, the Applicable Assets. Should either Party be required to pay or collect any taxes, duties, charges and or assessments pursuant to any Applicable Law or authority now in effect or hereafter to become effective which are payable
by the any other Party pursuant to this Section 2.6, the Party subject to such tax shall promptly reimburse the Party collecting or paying the tax on its behalf for the amount of such tax. 

2.8 Timing of Payments. The Applicable Refinery Owner will make payments to HEP Operating by electronic payment with immediately
available funds on a monthly basis during the 

  
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Applicable Term with respect to services rendered or reimbursable costs or expenses incurred by HEP Operating under this Agreement in the prior month. Payments not received by HEP Operating on or
prior to the tenth day following the invoice date will accrue interest at the Prime Rate from the applicable payment due date until the date payment is made. 

2.9 Increases in Tolling Fees. If new Applicable Laws are enacted that require HEP Operating to make capital expenditures with respect
to the Applicable Assets, HEP Operating may amend the Tolling Fees in the manner set forth in Exhibit G in order to recover HEP Operating’s cost of complying with such new Applicable Laws (as determined by HEP Operating in good faith and
assuming that such capital expenditures are financed at a reasonable rate and amortized on a mortgage style basis over a period equal to the then remaining Initial Term (or if such capital expenditures are incurred during any Expansion Term, the
then remaining Expansion Term)). The Applicable Refinery Owner and HEP Operating shall use their reasonable commercial efforts to comply with such new Applicable Laws, and shall negotiate in good faith to mitigate the impact of such new Applicable
Laws and to determine the amount of the new Tolling Fee rates. If the Applicable Refinery Owner and HEP Operating are unable to agree on the amount of the new Tolling Fee rates that HEP Operating will charge, such Tolling Fee rates will be resolved
in the manner provided for in Article VIII of the Omnibus Agreement. Any other applicable exhibit to this Agreement will be updated, amended or revised, as applicable, in accordance with this Agreement to reflect any changes in Tolling Fee
rates established in accordance with this Section 2.9. 
 2.10 No Guaranteed Minimum. Notwithstanding anything to the
contrary set forth in this Agreement, there is no requirement that the Applicable Refinery Owner actually deliver any minimum quantity of Feedstock to the Applicable Assets, it being understood that the Applicable Refinery Owner’s obligation
for failing to deliver sufficient quantities of Feedstock to satisfy the Minimum Throughput Commitment for any Contract Quarter is to make Deficiency Payments as provided in Article 6. 

ARTICLE 3 
 FORCE MAJEURE

 The rights and obligations of the Parties upon the occurrence of an event of Force Majeure will be determined in the manner set forth
in Article IX of the Omnibus Agreement; provided that (a) any suspension of the obligations of the Parties under this Agreement as a result of an event of Force Majeure shall extend the Applicable Term (to the extent so affected) for a
period equivalent to the duration of the inability set forth in the Force Majeure Notice, (b) the Applicable Refinery Owner will be required to pay any amounts accrued and due under this Agreement at the time of the Force Majeure event, and
(c) if a Force Majeure event prevents either Party from performing substantially all of their respective obligations under this Agreement relating to a group of Applicable Assets for a period of more than twelve (12) consecutive months,
this Agreement may be terminated as to such Applicable Assets (but not as to unaffected Applicable Assets) by either Party providing written notice thereof to the other Party. 

ARTICLE 4 
 EFFECTIVENESS
AND APPLICABLE TERM 
 This Agreement shall be effective as to each group of Applicable Assets as of the Effective Time and, unless
terminated earlier in accordance with its terms, shall terminate with respect to each group of Applicable Assets upon the expiration of the initial term set forth on Exhibit C (the “Initial Term”);

  
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provided that, at the end of the Initial Term for each group of Applicable Assets, the Applicable Refinery Owner shall have the option to extend the Applicable Term for such group of Applicable
Assets for an extension term beyond the Initial Term if, and to the extent, provided in Exhibit C (an “Extension Term”). In the event an Extension Term is available for a group of Applicable Assets, the Applicable Refinery
Owner shall give HEP Operating written notice of its exercise of its option to extend the Applicable Term with respect to such group of Applicable Assets at least twelve (12) months prior to the end of the Initial Term for such group of
Applicable Assets. 
 ARTICLE 5 

NOTICES 
 Any notice or
other communication given under this Agreement shall be in writing and shall be provided in the manner set forth in Article X of the Omnibus Agreement. 

ARTICLE 6 
 DEFICIENCY
PAYMENTS 
 6.1 Deficiency Notice; Deficiency Payments. As soon as practicable following the end of each Contract Quarter, HEP
Operating shall deliver to the Applicable Refinery Owner a written notice (the “Deficiency Notice”) detailing any failure of the Applicable Refinery Owner to meet the Minimum Throughput Commitment for such Contract Quarter. The
Deficiency Notice shall specify in reasonable detail the excess of (i) the dollar amount of the Tolling Fee that HEP Operating would have been paid by the Applicable Refinery Owner if the Applicable Refinery Owner had complied with its Minimum
Throughput Commitment obligations for such Contract Quarter pursuant to this Agreement over (ii) the dollar amount of the Tolling Fee payable based on the Feedstock actually processed during such Contract Quarter (the “Deficiency
Payment”). The Applicable Refinery Owner shall pay the Deficiency Payment to HEP Operating upon the later of: (A) ten (10) days after the Applicable Refinery Owner’s receipt of the Deficiency Notice and (B) thirty
(30) days following the end of the related Contract Quarter, unless such day is not a Business Day, in which case the due date for payment shall be the next Business Day. 

6.2 Disputed Deficiency Notices. If the Applicable Refinery Owner disagrees with all or any portion of the Deficiency Notice, then,
prior to the due date of the Deficiency Payment, the Applicable Refinery Owner shall (i) send HEP Operating a written notice with an explanation of the basis for the dispute (a “Dispute Notice”) and (ii) pay HEP Operating
the portion of the Deficiency Payment not disputed in such Dispute Notice. Thereafter, a senior officer of HollyFrontier (on behalf of the Applicable Refinery Owner) and a senior officer of the Partnership (on behalf of HEP Operating) shall meet in
person 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 matters set forth in such Dispute Notice. During the
thirty (30)-day period following the Applicable Refinery Owner’s timely delivery of such Dispute Notice, the Applicable Refinery Owner shall have reasonable access to the working papers of HEP Operating relating to the Deficiency Notice. If the
matters set forth in such Dispute Notice are not resolved within thirty (30) days following the Applicable Refinery Owner’s timely delivery of such Dispute Notice, the Applicable Refinery Owner and HEP Operating shall, within forty-five
(45) days following the Applicable Refinery Owner’s timely delivery of such Dispute Notice, submit any and all matters which remain in dispute to dispute resolution in accordance with the Omnibus Agreement. 

  
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 6.3 Payment of Amounts No Longer Disputed. If it is finally determined pursuant to this
Article 6 that the Applicable Refinery Owner is required to pay any or all of the disputed portion of the Deficiency Payment, the Applicable Refinery Owner shall pay such amount to HEP Operating, together with interest thereon at the Prime
Rate, in immediately available funds within ten (10) days of such final determination. 
 6.4 Contract Quarters Independent. The
fact that the Applicable Refinery Owner has exceeded or fallen short of the Minimum Throughput Commitment with respect to any Contract Quarter shall not be considered in determining whether the Applicable Refinery Owner meets, exceeds or falls short
of the Minimum Throughput 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 Throughput Commitment with respect to any other Contract Quarter.

 ARTICLE 7 
 RIGHT OF
FIRST REFUSAL 
 The Parties acknowledge the right of first refusal of HollyFrontier with respect to the Applicable Assets as provided
in the Omnibus Agreement. 
 ARTICLE 8 

INDEMNITY; LIMITATION OF DAMAGES 

8.1 Indemnity; Limitation of Liability. The Parties acknowledge and agree that the provisions relating to indemnity and limitation of
liability set forth in Article III of the Omnibus Agreement shall apply to this Agreement. Notwithstanding anything in this Agreement or the Omnibus Agreement to the contrary, and solely for the purpose of determining which of the Applicable
Refinery Owner or HEP Operating shall be liable in a particular circumstance, neither the Applicable Refinery Owner nor HEP Operating shall be liable to the other Party for any loss, damage, injury, judgment, claim, cost, expense or other liability
suffered or incurred (collectively, “Damages”) by such Party except to the extent that the Applicable Refinery Owner or HEP Operating causes such Damages or owns or operates the assets or other property in question responsible for
causing such Damages. 
 8.2 Survival. The provisions of this Article 8 shall survive the termination of this Agreement. 

ARTICLE 9 
 MISCELLANEOUS

 9.1 Amendments and Waivers. No amendment or modification of this Agreement shall be valid unless it is in writing and signed
by the Parties. No waiver of any provision of this Agreement shall be valid unless it is in writing and signed by the Party against whom the waiver is sought to be enforced. Any of the exhibits to this Agreement may be amended, modified, revised or
updated by the Parties if each of the Parties executes an amended, modified, revised or updated exhibit, and attaches it to this Agreement. Such amended, modified, revised or updated exhibits shall be sequentially numbered (e.g. Exhibit
A-1, Exhibit A-2, etc.), dated and appended as an additional exhibit to this Agreement and shall replace the prior exhibit, in its entirety, after its date of effectiveness, except as specified therein. No

  
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failure or delay in exercising any right hereunder, and no course of conduct, shall operate as a waiver of any provision of this Agreement. No single or partial exercise of a right hereunder
shall preclude further or complete exercise of that right or any other right hereunder. 
 9.2 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
the Applicable Refinery Owner (in the case of any assignment by HEP Operating) or HEP Operating (in the case of any assignment by an Applicable Refinery Owner), 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 the Applicable Refinery Owner’s consent (but subject to the
provision of written notice to the Applicable Refinery Owner), (ii) an Applicable Refinery Owner may make such an assignment (including a pro rata partial assignment) to an Affiliate of such Applicable Refinery Owner without HEP
Operating’s consent (but subject to the provision of written notice to HEP Operating), (iii) an Applicable Refinery Owner 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 (iv) 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 an Applicable Refinery Owner’s consent, if such
third party lender, debt holder or trustee shall have executed and delivered to such Applicable Refinery Owner a non-disturbance agreement in such form as is reasonably satisfactory to such Applicable Refinery Owner and such third party lender, debt
holder or trustee, and such Applicable Refinery Owner 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. 

9.3 Severability. If any provision of this Agreement shall be held invalid or unenforceable by a court or regulatory body of competent
jurisdiction, the remainder of this Agreement shall remain in full force and effect. 
 9.4 Choice of Law. This Agreement shall be
subject to and governed by the laws of the State of Delaware, excluding any conflicts-of-law rule or principle that might refer the construction or interpretation of this Agreement to the laws of another state. 

9.5 Rights of Limited Partners. The provisions of this Agreement are enforceable solely by the Parties, and no limited partner of the
Partnership shall have the right, separate and apart from the Partnership, to enforce any provision of this Agreement or to compel any Party to comply with the terms of this Agreement. 

9.6 Further Assurances. In connection with this Agreement and all transactions contemplated by this Agreement, each signatory Party
hereto agrees to execute and deliver such additional documents and instruments and to perform such additional acts as may be necessary or appropriate to effectuate, carry out and perform all of the terms, provisions and conditions of this Agreement
and all such transactions. 

  
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 9.7 Headings. Headings of the Sections of this Agreement are for convenience of the
Parties only and shall be given no substantive or interpretative effect whatsoever. All references in this Agreement to Sections are to Sections of this Agreement unless otherwise stated. 

ARTICLE 10 
 GUARANTEE BY
HOLLYFRONTIER 
 10.1 Payment Guaranty. HollyFrontier unconditionally, absolutely, continually and irrevocably guarantees, as
principal and not as surety, to HEP Operating the punctual and complete payment in full when due of all amounts due from each Applicable Refinery Owner under this Agreement (collectively, the “Applicable Refinery Owner Payment
Obligations”). HollyFrontier agrees that HEP Operating shall be entitled to enforce directly against HollyFrontier any of the Applicable Refinery Owner Payment Obligations. 

10.2 Guaranty Absolute. HollyFrontier hereby guarantees that the Applicable Refinery Owner Payment Obligations will be paid strictly in
accordance with the terms of the Agreement. The obligations of HollyFrontier under this Agreement constitute a present and continuing guaranty of payment, and not of collection or collectability. The liability of HollyFrontier under this Agreement
shall be absolute, unconditional, present, continuing and irrevocable irrespective of: 
 (a) any assignment or other
transfer of this Agreement or any of the rights thereunder of HEP Operating; 
 (b) any amendment, waiver, renewal, extension
or release of or any consent to or departure from or other action or inaction related to this Agreement; 
 (c) any
acceptance by HEP Operating of partial payment or performance from the Applicable Refinery Owner; 
 (d) any bankruptcy,
insolvency, reorganization, arrangement, composition, adjustment, dissolution, liquidation or other like proceeding relating to the Applicable Refinery Owner or any action taken with respect to this Agreement by any trustee or receiver, or by any
court, in any such proceeding; 
 (e) any absence of any notice to, or knowledge of, HollyFrontier, of the existence or
occurrence of any of the matters or events set forth in the foregoing subsections (i) through (iv); or 
 (f) any other
circumstance which might otherwise constitute a defense available to, or a discharge of, a guarantor. 
 The obligations of HollyFrontier
hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or setoff, counterclaim,
recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of the Applicable Refinery Owner Payment Obligations or otherwise. 

  
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 10.3 Waiver. HollyFrontier hereby waives promptness, diligence, all setoffs, presentments,
protests and notice of acceptance and any other notice relating to any of the Applicable Refinery Owner Payment Obligations and any requirement for HEP Operating to protect, secure, perfect or insure any security interest or lien or any property
subject thereto or exhaust any right or take any action against the Applicable Refinery Owner, any other entity or any collateral. 
 10.4
Subrogation Waiver. HollyFrontier agrees that for so long as there is a current or ongoing default or breach of this Agreement by the Applicable Refinery Owner, HollyFrontier shall not have any rights (direct or indirect) of subrogation,
contribution, reimbursement, indemnification or other rights of payment or recovery from the Applicable Refinery Owner for any payments made by HollyFrontier under this Article 10, and HollyFrontier hereby irrevocably waives and releases,
absolutely and unconditionally, any such rights of subrogation, contribution, reimbursement, indemnification and other rights of payment or recovery it may now have or hereafter acquire against the Applicable Refinery Owner during any period of
default or breach of this Agreement by the Applicable Refinery Owner until such time as there is no current or ongoing default or breach of this Agreement by the Applicable Refinery Owner. 

10.5 Reinstatement. The obligations of HollyFrontier under this Article 10 shall continue to be effective or shall be
reinstated, as the case may be, if at any time any payment of any of the Applicable Refinery Owner Payment Obligations is rescinded or must otherwise be returned to the Applicable Refinery Owner or any other entity, upon the insolvency, bankruptcy,
arrangement, adjustment, composition, liquidation or reorganization of the Applicable Refinery Owner or such other entity, or for any other reason, all as though such payment had not been made. 

10.6 Continuing Guaranty. This Article 10 is a continuing guaranty and shall (i) remain in full force and effect until the
first to occur of the indefeasible payment in full of all of the Applicable Refinery Owner Payment Obligations, (ii) be binding upon HollyFrontier, its successors and assigns and (iii) inure to the benefit of and be enforceable by HEP
Operating and its respective successors, transferees and assigns. 
 10.7 No Duty to Pursue Others. It shall not be necessary for HEP
Operating (and HollyFrontier hereby waives any rights which HollyFrontier may have to require HEP Operating), in order to enforce such payment by HollyFrontier, first to (i) institute suit or exhaust its remedies against the Applicable Refinery
Owner or others liable on the Applicable Refinery Owner Payment Obligations or any other Person, (ii) enforce HEP Operating’s rights against any other guarantors of the Applicable Refinery Owner Payment Obligations, (iii) join the
Applicable Refinery Owner or any others liable on the Applicable Refinery Owner Payment Obligations in any action seeking to enforce this Article 10, (iv) exhaust any remedies available to HEP Operating against any security which shall
ever have been given to secure the Applicable Refinery Owner Payment Obligations, or (v) resort to any other means of obtaining payment of the Applicable Refinery Owner Payment Obligations. 

ARTICLE 11 
 GUARANTEE BY
THE PARTNERSHIP 
 11.1 Payment and Performance Guaranty. The Partnership unconditionally, absolutely, continually and
irrevocably guarantees, as principal and not as surety, to the Applicable Refinery Owner the punctual and complete payment in full when due of all amounts due from HEP Operating under this Agreement (collectively, the “HEP Operating Payment
Obligations”) and the punctual and complete 

  
 9 

 
performance of all other obligations of HEP Operating under this Agreement (collectively, the “HEP Operating Performance Obligations”, together with the HEP Operating Payment
Obligations, the “HEP Operating Obligations”). The Partnership agrees that the Applicable Refinery Owner shall be entitled to enforce directly against the Partnership any of the HEP Operating Obligations. 

11.2 Guaranty Absolute. The Partnership hereby guarantees that the HEP Operating Payment Obligations will be paid, and the HEP
Performance Obligations will be performed, strictly in accordance with the terms of this Agreement. The obligations of the Partnership under this Agreement constitute a present and continuing guaranty of payment and performance, and not of
collection or collectability. The liability of the Partnership under this Agreement shall be absolute, unconditional, present, continuing and irrevocable irrespective of: 

(a) any assignment or other transfer of this Agreement or any of the rights thereunder of the Applicable Refinery Owner; 

(b) any amendment, waiver, renewal, extension or release of or any consent to or departure from or other action or inaction
related to this Agreement; 
 (c) any acceptance by the Applicable Refinery Owner of partial payment or performance from HEP
Operating; 
 (d) any bankruptcy, insolvency, reorganization, arrangement, composition, adjustment, dissolution, liquidation
or other like proceeding relating to HEP Operating or any action taken with respect to this Agreement by any trustee or receiver, or by any court, in any such proceeding; 

(e) any absence of any notice to, or knowledge of, the Partnership, of the existence or occurrence of any of the matters or
events set forth in the foregoing subsections (i) through (iv); or 
 (f) any other circumstance which might otherwise
constitute a defense available to, or a discharge of, a guarantor. 
 The obligations of the Partnership hereunder shall not be subject to
any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever
by reason of the invalidity, illegality or unenforceability of the HEP Operating Obligations or otherwise. 
 11.3 Waiver. The
Partnership hereby waives promptness, diligence, all setoffs, presentments, protests and notice of acceptance and any other notice relating to any of the HEP Operating Payment Obligations and any requirement for the Applicable Refinery Owner to
protect, secure, perfect or insure any security interest or lien or any property subject thereto or exhaust any right or take any action against HEP Operating, any other entity or any collateral. 

11.4 Subrogation Waiver. The Partnership agrees that for so long as there is a current or ongoing default or breach of this Agreement
by HEP Operating, the Partnership shall not have any rights (direct or indirect) of subrogation, contribution, reimbursement, indemnification or other rights of 

  
 10 

 
payment or recovery from HEP Operating for any payments made by the Partnership under this Article 11, and each of the Partnership hereby irrevocably waives and releases, absolutely and
unconditionally, any such rights of subrogation, contribution, reimbursement, indemnification and other rights of payment or recovery it may now have or hereafter acquire against HEP Operating during any period of default or breach of this Agreement
by HEP Operating until such time as there is no current or ongoing default or breach of this Agreement by HEP Operating. 
 11.5
Reinstatement. The obligations of the Partnership under this Article 11 shall continue to be effective or shall be reinstated, as the case may be, if at any time any payment of any of the HEP Operating Payment Obligations is rescinded
or must otherwise be returned to HEP Operating or any other entity, upon the insolvency, bankruptcy, arrangement, adjustment, composition, liquidation or reorganization of HEP Operating or such other entity, or for any other reason, all as though
such payment had not been made. 
 11.6 Continuing Guaranty. This Article 11 is a continuing guaranty and shall
(i) remain in full force and effect until the first to occur of the indefeasible payment and/or performance in full of all of the HEP Operating Payment Obligations, (ii) be binding upon the Partnership and each of its respective successors
and assigns and (iii) inure to the benefit of and be enforceable by the Applicable Refinery Owner and their respective successors, transferees and assigns. 

11.7 No Duty to Pursue Others. It shall not be necessary for the Applicable Refinery Owner (and the Partnership hereby waives any
rights which the Partnership may have to require the Applicable Refinery Owner), in order to enforce such payment by the Partnership, first to (i) institute suit or exhaust its remedies against HEP Operating or others liable on the HEP
Operating Obligations or any other Person, (ii) enforce the Applicable Refinery Owner’s rights against any other guarantors of the HEP Operating Obligations, (iii) join HEP Operating or any others liable on the HEP Operating
Obligations in any action seeking to enforce this Article 11, (iv) exhaust any remedies available to the Applicable Refinery Owner against any security which shall ever have been given to secure the HEP Operating Obligations, or
(v) resort to any other means of obtaining payment of the HEP Operating Obligations. 
 [Remainder of page intentionally left
blank. Signature pages follow.] 

  
 11 

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

			
	HEP OPERATING:
	
	Holly Energy Partners-Operating, L.P.
		
	By:	 	 /s/ Michael C. Jennings

		 	Michael C. Jennings
		 	Chief Executive Officer
	
	APPLICABLE REFINERY OWNER:
	
	HollyFrontier El Dorado Refining LLC
	HollyFrontier Woods Cross Refining LLC
		
	By:	 	 /s/ George J. Damiris

		 	George J. Damiris
		 	Chief Executive Officer and President

  
 [Signature Page 1
of 2 to the Master Tolling Agreement] 

			
	ACKNOWLEDGED AND AGREED
	FOR PURPOSES OF Article 10:
	
	HOLLYFRONTIER CORPORATION
		
	By:	 	 /s/ George J. Damiris

		 	George J. Damiris
		 	Chief Executive Officer and President
	
	ACKNOWLEDGED AND AGREED
	FOR PURPOSES OF Article 11:
	
	HOLLY ENERGY PARTNERS, L.P.
		
	By:	 	HEP Logistics Holdings, L.P.,
		 	its General Partner
		
	By:	 	Holly Logistic Services, L.L.C.,
		 	its General Partner
		
	By:	 	 /s/ Michael C. Jennings

		 	Michael C. Jennings
		 	Chief Executive Officer

  
 [Signature Page 2
of 2 to the Master Tolling Agreement] 

 Exhibit A 

to 
 Amended and Restated
Master Tolling Agreement 
  
  

Parties 
 HollyFrontier El Dorado and HEP Operating, as to the
El Dorado Assets. 
 HollyFrontier Woods Cross and HEP Operating, as to the Woods Cross Assets. 

  
 Exhibit A-1 

 Exhibit B 

to 
 Amended and Restated
Master Tolling Agreement 
  
  

Drop Down Transactions 
  

	1.	Sale of all the outstanding membership interests in El Dorado Operating LLC from HollyFrontier El Dorado to HEP Operating, effective November 1, 2015. El Dorado Operating LLC owns a Naphtha Fractionation Unit at
the El Dorado Refinery Complex. 

  

	2.	Sale of all the outstanding membership interests in Woods Cross Operating LLC from HollyFrontier Woods Cross to HEP Operating, effective October 1, 2016. Woods Cross Operating LLC owns the Crude Unit 2, the FCC
Unit 2 and the Polymerization Unit at the Woods Cross Refinery Complex. 

  
 Exhibit B-1 

 Exhibit C 

to 
 Amended and Restated
Master Tolling Agreement 
  
  

Applicable Assets; Minimum Throughput Commitment; Tolling Fees and Adjustments; Applicable Term 

 

																											
	Applicable
Assets	 	
Type of
 Applicable

Asset
	 	Products	 	
Minimum
 Throughput

Commitment
 (on a BPD

basis)
	 	
Tolling
 Fee
	 	
Tolling
 Fee

Adjustment
	 	
PPI
 Adjustment

Minimum/
Cap
	 	
Fee
 Adjustment

Commencement
 Date
	 	
Assumed
 OPEX
	 	
Purchase
 Price
	 	
Accrued
 Turn-
around

Cost
	 	
Assumed
 Fuel Gas

Cost
	 	
Initial
 Term (all

times are
 Dallas,

TX time)
	 	
Extension
 Term (all

times are
 Dallas, TX

time)

	El Dorado Assets	 	Naphtha Fractionation Unit	 	 Isopentane1

 
 ISOM Feed
  

Int. Naphtha
  

Reformer
	 	48,750 BPD	 	$.36/BBL2	 	 PPI/HFC Merit Comp Adjustment3
  
 OPEX Adjustment4
  
 CAPEX Adjustment5
  
 Turnaround Surcharge6
  
 Fuel Gas Surcharge7
	 	Subject to 1% Minimum/ 3% Cap3	 	July 1, 2017	 	$3.3M4	 	$25,851,371	 	$1.6M6	 	$73,6107	 	12:01 a.m. on Novem-ber 1, 2015 (the “Effec-tive Time”) to 12:00 midnight on October 31, 2030	 	The Applicable Refinery Owner shall have the option to extend the Applicable Term beyond the Initial Term for one additional five (5) year
period beginning at 12:01 am on November 1, 2030 and ending at 12:00 midnight on October 31, 2035 on the same terms and conditions as in existence for the Initial Term.

  
 Exhibit C-1 

																											
	Applicable
Assets	 	
Type of
 Applicable

Asset
	 	Products	 	
Minimum
 Throughput

Commitment
 (on a BPD

basis)
	 	
Tolling
 Fee
	 	
Tolling
 Fee

Adjustment
	 	
PPI
 Adjustment

Minimum/
Cap
	 	
Fee
 Adjustment

Commencement
 Date
	 	
Assumed
 OPEX
	 	
Purchase
 Price
	 	
Accrued
 Turn-
around

Cost
	 	
Assumed
 Fuel Gas

Cost
	 	
Initial
 Term (all

times are
 Dallas,

TX time)
	 	
Extension
 Term (all

times are
 Dallas, TX

time)

	Woods Cross Assets	 	Crude Unit 2	 	Naphtha Diesel tower bottoms	 	14,625 BPD8	 	$2.56/BBL10	 	PPI/WX Union Annual Increase9	 	None	 	July 1, 2017	 	$4.0M4	 	$64.75M	 	$8.7M6	 	$11,871	 	 12:01 a.m. on October 1, 2016 (the

“Effective Time”) to 12:00
 midnight on September 30,
2031
	 	 The Applicable Refinery Owner shall
have
 the option to extend the Applicable
 Term beyond the
Initial Term for one additional five (5) year period beginning at 12:01 am on October 1, 2031 and ending at 12:00 midnight on September 30, 2036 on the same terms and conditions as in existence for the Initial Term.

	 	 	FCC Unit 2	 	Gasoline Light Cycle Oil Olefins Slurry	 	7,600 BPD8	 	$12.39 /BBL10	 	OPEX Adjustment4	 	 	 	 	 	$11.8M4	 	$176.25M	 	$7.8M6	 	$11,566	 	 
	 	 	Polymeriza-tion Unit	 	Gasoline Butane Propane	 	2,438 BPD8	 	$9.72/BBL10	 	 CAPEX
Adjustment5
  
 Turn- around
Surcharge 6
  
 Fuel Gas
Surcharge (excluding Polymeri-zation Unit)7
	 	 	 	 	 	$3.6M4	 	$37.0M	 	$3.2M6	 	-	 	 

  

	1.	The “Feedstock” for the El Dorado Assets is light naphtha and heavy naphtha. The “Feedstock” for the Woods Cross Assets is as follows: Crude Unit 2 – crude oil; FCC Unit 2 – crude tower
bottoms and outside gas oil; Poly Unit – olefins. 

  
 Exhibit C-2 

	2.	El Dorado Only: The Tolling Fee shall never be less than $.36 per BBL of Feedstock, subject to a one-time potential reduction in the Tolling Fee for the adjustment in paragraph 4 below. If as a result of a reduction to
the Tolling Fee or Minimum Throughput Commitment for a Contract Quarter pursuant to Section 2.2(d) of the Agreement, the Applicable Refinery Owner has overpaid its Tolling Fees for a Contract Quarter, the Applicable Refinery Owner shall
receive a credit against its Tolling Fees due for the following Contract Quarter in the amount of such overpayment. 

	3.	El Dorado Only: The Tolling Fee, as previously adjusted on a cumulative basis, shall be adjusted on July 1 of each calendar year, commencing July 1, 2017, by an amount equal to a percentage calculated as
follows: (A) 0.75 x the change in the PPI as described below, plus (B) 0.25 x the annual HollyFrontier Merit Compensation Adjustment (positive or negative) for 

	
	 

  
 Exhibit C-3 

	 	
such calendar year. The change in the PPI is the upper change in the annual change rounded to four decimal places of the Producers Price Index-Commodities-Finished Goods, (PPI), et al.
(“PPI”), produced by the U.S. Department of Labor, Bureaus of Labor Statistics. The series ID is WPUFD49207– located at http://www.bls.gov/data/. The change in PPI for each year shall be calculated as follows: annual PPI index (most
current year) less annual PPI index (most current year minus 1) divided by annual PPI index (most current year minus 1); provided that the change in PPI in any year shall not be less than one percent (1%) or more than three percent (3%). For
the avoidance of doubt, if the change in PPI in any year is less than one percent (1%) (including if the change in the PPI is negative) it will be rounded up to one percent (1%) and if the change in PPI in any year is greater than three
percent (3%) it will be rounded down to three percent (3%). If either index is no longer published, the Parties shall negotiate in good faith to agree on a new index (as applicable) that gives comparable protection against inflation or
deflation, and the same method of adjustment for increases or decreases in the new index shall be used to calculate increases or decreases in the Tolling Fee. If the Parties are unable to agree on a new index, a new index will be determined in
accordance with the dispute resolution provisions set forth in the Article VIII of Omnibus Agreement, and the same method of adjustment for increases or decreases in the new index shall be used to calculate increases or decreases in the Tolling
Fee. The annual HollyFrontier Merit Compensation Adjustment is the company-wide increase (or decrease) in salary for the year in which the adjustment occurs as determined by the HollyFrontier Chief Executive Officer and Vice President, Human
Resources (excluding merit compensation adjustments for executive officers that are determined by the HollyFrontier Board of Directors (or a committee thereof) and excluding any annual increases for union employees). Examples of the annual Tolling
Fee adjustment under various scenarios are as follows: 

  

	 	(1)	if the change in PPI is 0% and the HFC Merit Compensation Adjustment is 3.5%, the Tolling Fee adjustment would be (0.75 x 1%) + (0.25 x 3.5%) = 1.625% 

	 	(2)	if the change in PPI is 2% and the HFC Merit Compensation Adjustment is 2%, the Tolling Fee adjustment would be (0.75 x 2%) + (0.25 x 2%) = 2% 

	 	(3)	if the change in PPI is 5% and the HFC Merit Compensation Adjustment is 2%, the Tolling Fee adjustment would be (0.75 x 3%) + (0.25 x 2%) = 2.75% 

	 	(4)	if the change in PPI is 0% and the HFC Merit Compensation Adjustment is -2%, the Tolling Fee adjustment would be (0.75 x 1%) + (0.25 x (-2%)) = 0.25% 

 

	4.	At the end of the first four (4) Contract Quarters during the Applicable Term, HEP Operating shall calculate the aggregate operating expenses incurred in the operation of the Applicable Asset (but such calculation
shall not include turnaround accruals, capitalized catalyst costs, fuel gas costs and extraordinary and non-recurring items of expense that are not reasonably expected to recur in future periods during the Applicable Term) (“OPEX”). In the
event that such aggregate OPEX exceed the Assumed OPEX set forth above, (A) the Applicable Refinery Owner shall, within ten (10) days of receiving an invoice from HEP Operating, reimburse HEP Operating for such OPEX incurred during such
initial four (4) Contract Quarters in excess of the Assumed OPEX, and (B) from and after the first four (4) Contract Quarters during the Applicable Term, HEP Operating shall increase the Tolling Fee for processing with the Applicable
Asset by the amount necessary to recover such aggregate OPEX in excess of the Assumed OPEX for the remainder of the Applicable Term, and the Parties shall execute an amended, modified, revised or updated Exhibit C reflecting such aggregate OPEX as
the new Assumed OPEX. In the event that such aggregate OPEX is less than the Assumed OPEX, HEP Operating shall decrease the Tolling Fee by the amount necessary to account for the difference between the Assumed OPEX and such actual OPEX for the
remainder of the Applicable Term, and the Parties shall execute an amended, modified, revised or updated Exhibit C reflecting such aggregate OPEX as the new Assumed OPEX. 

	5.	At the end of the first four (4) Contract Quarters during the Applicable Term, HEP Operating shall determine its aggregate capital expenditures relating to the construction and start-up of the Applicable Asset
(“CAPEX”). HEP Operating shall amend and increase the Tolling Fee for the remainder of the Initial Term by the following formulae: For the El Dorado Assets: (aggregate CAPEX/9.0) ÷ (Minimum Throughput Commitment (on a BPD basis) x
365.25); and for the Woods Cross Assets: (aggregate CAPEX/8.5) ÷ (Minimum Throughput (on a BPD basis) x 365.25). 

	6.	After the first turnaround on the Applicable Asset during the Applicable Term, HEP Operating will calculate its aggregate Turnaround Costs incurred in connection therewith. In the event such aggregate Turnaround Costs
for the Applicable Asset exceeds the Accrued Turnaround Cost set forth above then (A) a turnaround surcharge (the “Turnaround Surcharge”) will be added to the Tolling Fee based on each BBL of Feedstock (using the Minimum Throughput
Commitment) in order to allow HEP Operating to recover (i) such Turnaround Costs in excess of the Accrued Turnaround Cost plus (ii) a ten percent (10%) return on such excess (the aggregate amount specified in clauses (i) and
(ii), the “Turnaround Payment”). Such Turnaround Surcharge shall be paid by the Applicable Refinery Owner to HEP Operating on each BBL of Feedstock processed through the Applicable Asset until the earlier to occur of (i) the
expiration of the Applicable Term or (ii) the recovery by HEP Operating of the Turnaround Payment. In addition, the Tolling Fee will be adjusted by the amount necessary to recover the new estimated turnaround expense for the remainder of the
Applicable Term (based on the Minimum Throughput Commitment). 

	7.	If at the end of any calendar month during the Applicable Term the aggregate cost of gas incurred by HEP Operating in connection with the operation of the Applicable Assets exceeds the Assumed Fuel Gas Cost, the
Applicable Refinery Owner shall promptly pay to HEP Operating an amount equal to the positive difference, if any, of (i) the aggregate cost of fuel gas incurred by HEP Operating in connection with the operation of the Applicable Assets during
such calendar month less (ii) the Assumed Fuel Gas Cost. 

	
	 

  
 Exhibit C-4 

	8.	Determined on a Contract Quarter basis. 

	9.	Woods Cross Only: The Tolling Fee, as previously adjusted on a cumulative basis, shall be adjusted on July 1 of each calendar year, commencing July 1, 2017, by an amount equal to a percentage calculated as
follows: (A) 0. 5 x the change in the PPI as described below, plus (B) 0.5 x the annual increase under the then current Woods Cross union contract. The change in the PPI is the upper change in the annual change rounded to four
decimal places of the Producers Price Index-Commodities-Finished Goods, (PPI), et al. (“PPI”), produced by the U.S. Department of Labor, Bureaus of Labor Statistics. The series ID is WPUFD49207– located at http://www.bls.gov/data/.
The change in PPI for each year shall be calculated as follows: annual PPI index (most current year) less annual PPI index (most current year minus 1) divided by annual PPI index (most current year minus 1). If either index is no longer published,
the Parties shall negotiate in good faith to agree on a new index (as applicable) that gives comparable protection against inflation or deflation, and the same method of adjustment for increases or decreases in the new index shall be used to
calculate increases or decreases in the Tolling Fee. If the Parties are unable to agree on a new index, a new index will be determined in accordance with the dispute resolution provisions set forth in the Article VIII of Omnibus Agreement, and the
same method of adjustment for increases or decreases in the new index shall be used to calculate increases or decreases in the Tolling Fee. The annual increase under the then current Woods Cross union contract is the annual base pay increase given
to union employees at Woods Cross, currently on or about February 1 of each year. Examples of the annual Tolling Fee adjustment under various scenarios are as follows: 

(1) if the change in PPI is 0% and the annual increase under the then current Woods Cross union contract is 3.5%, the Tolling Fee adjustment would be (0.5 x
0%) + (0.5 x 3.5%) = 1.75% 
 (2) if the change in PPI is 2% and the annual increase under the then current Woods Cross union contract is 2%, the Tolling
Fee adjustment would be (0.5 x 2%) + (0.5 x 2%) = 2% 
 (3) if the change in PPI is 5% and the annual increase under the then current Woods Cross union
contract is 2%, the Tolling Fee adjustment would be (0.5 x 5%) + (0.5 x 2%) = 3.5%10. 
 (4) if the change in PPI is -1% and the annual increase under the
then current Woods Cross union contract is 2%, the Tolling Fee adjustment would be (0.5 x -1%) + (0.5 x 2%) = 0.5%. 
  

	10.	Woods Cross Only: If the Applicable Refinery Owner has overpaid its monthly Tolling Fees after adjustments to Tolling Fees or Minimum Throughput Commitments for a Contract Quarter pursuant to Section 2.2(d) of the
Agreement, the Applicable Refinery Owner shall be entitled to apply any such overpayment as a credit against Tolling Fees within the succeeding twelve months for volumes of Feedstock delivered to HEP Operating in excess of the Minimum Throughput
Commitment for any of the Applicable Assets. If any such overpayment has not been credited within twelve months of the overpayment, such overpayment shall be credited against Tolling Fees due with respect to any Minimum Throughput Commitment for any
of the Applicable Assets, or if there are no such Tolling Fees due, such overpayment shall be credited against any other obligations owed by the Applicable Refinery Owner, or its Affiliates, to HEP Operating. 

	
	 

  
 Exhibit C-5 

 Exhibit D 

to 
 Amended and Restated
Master Tolling Agreement 
  
 Definitions 

“Accrued Turnaround Cost” has the meaning set forth in Exhibit C. 

“Affiliate” means, with to respect to a specified Person, any other Person controlling, controlled by or under common control
with that first Person. As used in this definition, the term “control” includes (i) with respect to any Person having voting securities or the equivalent and elected directors, managers or persons performing similar functions, the
ownership of or power to vote, directly or indirectly, voting securities or the equivalent representing 50% or more of the power to vote in the election of directors, managers or Persons performing similar functions, (ii) ownership of 50% or
more of the equity or equivalent interest in any person and (iii) the ability to direct the business and affairs of any Person by acting as a general partner, manager or otherwise. Notwithstanding the foregoing, for purposes of this Agreement,
the Applicable Refinery Owner, on the one hand, and HEP Operating, on the other hand, shall not be considered affiliates of each other. 

“Aggregate Capacity” means, with respect to each Contract Quarter and each Applicable Asset, the product of (i) the
volume of Feedstock (expressed in BPD) that HEP Operating was available to receive on average on a daily basis from the Applicable Refinery Owner at the location of such Applicable Asset for the Contract Quarter and (ii) the number of days in
such Contract Quarter. 
 “Agreement” has the meaning set forth in the preamble to this Agreement. 

“Applicable Asset” means each of the Applicable Assets, individually. 

“Applicable Assets” has the meaning set forth in the Recitals. 

“Applicable Law” means any applicable statute, law, regulation, ordinance, rule, judgment, rule of law, order, decree,
permit, approval, concession, grant, franchise, license, agreement, requirement, or other governmental restriction or any similar form of decision of, or any provision or condition of any permit, license or other operating authorization issued under
any of the foregoing by, or any determination of, any Governmental Authority having or asserting jurisdiction over the matter or matters in question, whether now or hereafter in effect and in each case as amended (including, without limitation, all
of the terms and provisions of the common law of such Governmental Authority), as interpreted and enforced at the time in question. 

“Applicable Refinery Owner” means, with respect to the El Dorado Refinery, HollyFrontier El Dorado, and with respect to the
Woods Cross Refinery, HollyFrontier Woods Cross. 
 “Applicable Refinery Owner Payment Obligations” has the meaning set
forth in Section 10.1. 
 “Applicable Term” means the Initial Term, together with any Extension Term, if
applicable. 
 “Assumed Fuel Gas Cost” has the meaning set forth in Exhibit C. 

  
 Exhibit D-1 

 “Assumed OPEX” means the amount set forth in Exhibit C for the Applicable
Assets. 
 “BBL” means barrel. 

“BPD” means barrels per day. 

“Business Day” means any day other than Saturday, Sunday or other day upon which commercial banks in Dallas, Texas are
authorized by law to close. 
 “CAPEX” has the meaning set forth in Exhibit C. 

“Contract Quarter” means a three-month period that commences on January 1, April 1, July 1 or
October 1 and ends on March 31, June 30, September 30, or December 31, respectively. 

“Control” (including with correlative meaning, the term “controlled by”) means, as used with respect to any Person,
the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise. 

“Conversion Ratio” has the meaning set forth in Exhibit F. 

“Crude Unit 2” has the meaning set forth in the Master Lease and Access Agreement. 

“Damages” has the meaning set forth in Section 8.1. 

“Deficiency Notice” has the meaning set forth in Section 6.1. 

“Deficiency Payment” has the meaning set forth in Section 6.1. 

“Dispute Notice” has the meaning set forth in Section 6.2. 

“Drop Down Transactions” has the meaning set forth in the Recitals. 

“Effective Time” has the meaning set forth in Exhibit C. 

“El Dorado Assets” means those assets identified as the “El Dorado Assets” in Exhibit C. 

“El Dorado Refinery Complex” means the refinery complex owned by HollyFrontier El Dorado, commonly known as the El Dorado
Refinery, and located in the City of El Dorado, Butler County, Kansas. 
 “Extension Term” has the meaning set forth in
Section 4. 
 “FCC Unit 2” has the meaning set forth in the Master Lease and Access Agreement. 

“Feedstock” has the meaning set forth in Exhibit C. 

“Force Majeure” has the meaning set forth in the Omnibus Agreement. 

“Force Majeure Notice” has the meaning set forth in the Omnibus Agreement. 

  
 Exhibit D-2 

 “Fuel Gas Cost” has the meaning set forth in Exhibit C. 

“Governmental Authority” means any federal, state, local or foreign government or any provincial, departmental or other
political subdivision thereof, or any entity, body or authority exercising executive, legislative, judicial, regulatory, administrative or other governmental functions or any court, department, commission, board, bureau, agency, instrumentality or
administrative body of any of the foregoing. 
 “HEP Operating” means Holly Energy Partners – Operating, L.P., a
Delaware limited partnership. 
 HEP Operating Obligations” has the meaning set forth in Section 11.1. 

“HEP Operating Payment Obligations” has the meaning set forth in Section 11.1. 

“HEP Operating Performance Obligations” has the meaning set forth in Section 11.1. 

“HollyFrontier El Dorado” means HollyFrontier El Dorado Refining LLC, a Delaware limited liability company. 

“HollyFrontier Woods Cross” means HollyFrontier Woods Cross Refining LLC, a Delaware limited liability company. 

“HollyFrontier” means HollyFrontier Corporation, a Delaware corporation. 

“Initial Term” has the meaning set forth in Article 4. 

“Master Lease and Access Agreement” means that certain Third Amended and Restated Master Lease and Access Agreement dated
effective as of the Effective Date hereof among the Parties and certain of their Affiliates. 
 “Minimum Throughput
Commitment” means, with respect to each Contract Quarter and each Applicable Asset, the product of (i) the quantity of Feedstock to be delivered by the Applicable Refinery Owner to HEP Operating at the location of the Applicable Asset
on a daily basis, as set forth on Exhibit C and (ii) the number of days in such Contract Quarter, as such amount may be adjusted pursuant to the terms of this Agreement. 

“Naphtha Fractionation Unit” has the meaning set forth in the Master Lease and Access Agreement. 

“NFC Products” has the meaning set forth in Exhibit F. 

“Omnibus Agreement” means the Sixteenth Amended and Restated Omnibus Agreement, effective as of October 1, 2016. 

“OPEX” has the meaning set forth in Exhibit C. 

“Parties” has the meaning set forth in the Preamble. 

“Partnership” means Holly Energy Partners, L.P., a Delaware limited partnership. 

  
 Exhibit D-3 

 “Party” has the meaning set forth in the Preamble. 

“Person” means an individual or a corporation, limited liability company, partnership, joint venture, trust, unincorporated
organization, association, government agency or political subdivision thereof or other entity. 
 “Polymerization Unit” has
the meaning set forth in the Master Lease and Access Agreement. 
 “PPI” has the meaning set forth in Exhibit C.

 “Prime Rate” means the lesser of (i) the prime rate per annum announced by Union Bank, N.A., or if Union Bank, N.A.
no longer announces a prime rate for any reason, the prime rate per annum announced by the largest U.S. bank measured by deposits from time to time as its base rate on corporate loans, automatically fluctuating upward or downward with each
announcement of such prime rate and (ii) the maximum lawful rate permitted by Applicable Law. 
 “Products” has the
meaning set forth in Exhibit C. 
 “Purchase Price” means the amount set forth in Exhibit C for the
Applicable Assets. 
 “Subsidiary” means with respect to any Person (the “Owner”), any corporation or
other Person of which securities or other interests having the power to elect a majority of that corporation’s or other Person’s board of directors or similar governing body, or otherwise having the power to direct the business and
policies of that corporation or other Person (other than securities or other interest having such power only upon the happening of a contingency that has not occurred), are held by the Owner or one or more of its Subsidiaries. 

“Tolling Fee” has the meaning set forth in Exhibit C. 

“Turnaround Costs” means costs and expenses, including catalysts, reasonably incurred by HEP Operating in the first
turnaround of the Applicable Asset occurring during the Applicable Term. 
 “Turnaround Payment” has the meaning set forth
in paragraph 6 of Exhibit C. 
 “Turnaround Surcharge” has the meaning set forth in paragraph 6 of Exhibit C.

 “Woods Cross Assets” means those assets identified as the “Woods Cross Assets” in Exhibit C. 

“Woods Cross Refinery Complex” means the refinery complex owned by HollyFrontier Woods Cross, commonly known as the Woods
Cross Refinery, and located in the City of West Bountiful, Davis County, Utah. 

  
 Exhibit D-4 

 Exhibit E 

to 
 Amended and Restated
Master Tolling Agreement 
  
  

Interpretations 
 As used in this
Agreement, unless a clear contrary intention appears: 
 (a) any reference to the singular includes the plural and vice versa, any reference
to natural persons includes legal persons and vice versa, and any reference to a gender includes the other gender; 
 (b) the words
“hereof”, “herein”, and “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement; 

(c) any reference to Articles, Sections and Exhibits are, unless otherwise stated, references to Articles, Sections and Exhibits of or to this
Agreement and references in any Section or definition to any clause means such clause of such Section or definition. The headings in this Agreement have been inserted for convenience only and shall not be taken into account in its interpretation;

 (d) reference to any agreement (including this Agreement), document or instrument means such agreement, document, or instrument as
amended, modified or supplemented and in effect from time to time in accordance with the terms thereof and, if applicable, the terms of this Agreement; 

(e) the Exhibits hereto form an integral part of this Agreement and are equally binding therewith. Any reference to “this Agreement”
shall include such Exhibits; 
 (f) references to a Person shall include any permitted assignee or successor to such Party in accordance
with this Agreement and reference to a Person in a particular capacity excludes such Person in any other capacity; 
 (g) if any period is
referred to in this Agreement by way of reference to a number of days, the days shall be calculated exclusively of the first and inclusively of the last day unless the last day falls on a day that is not a Business Day in which case the last day
shall be the next succeeding Business Day; 
 (h) the use of “or” is not intended to be exclusive unless explicitly indicated
otherwise; 
 (i) references to “$” or to “dollars” shall mean the lawful currency of the United States of America; and

 (j) the words “includes,” “including,” or any derivation thereof shall mean “including without limitation”
or “including, but not limited to.” 

  
 Exhibit E-1 

 Exhibit F 

to 
 Amended and Restated
Master Tolling Agreement 
  
  

Measurement of Delivered Volumes 
  

					
	Applicable Asset	  	Type of Applicable Asset	  	Measurement of Volumes
	 El
Dorado
 Assets
	  	Naphtha Fractionation Unit	  	 Delivery volumes of light naphtha and heavy
naphtha feedstock shall be determined by the BBL unit of measure with the metered data stored at PI Tag FI14381.daca.pv for light naphtha and FI14382.daca.pv for heavy naphtha.
  

Delivery volumes of isopentane, ISOM feed, intermediate naphtha and reformer feed shall be determined by the BBL unit of measure with the metered data stored
at tags FC14578.pida.pv, FC14592.pida.pv, FC14612.pida.pv and reformer feed at tag FY14467.daca.pv.1

	 	 	 
	Woods Cross Assets	  	 Crude Unit 2

FCC Unit 2
 Poly Unit
	  	 Delivery volumes of feedstock shall be determined
for each BBL unit of measure with the metered data stored at
  
 (a) tags 24FC4010,
24FC4025, 24FC4021a, 24FC4022A, 24FC4031, 24FC4028a or 24FC4029a for the Crude Unit 2
  

(b) tags 25FC4106, 25Fl4144 (MSCFD), 25FC4153, 25FC4156, 25FC4131 and 25FC4126 for the FCC Unit 2, and

 
 (c) tags 26Fl4040, 26FC4105, 26Fl4106 and 26Fl4009 for the Polymerization Unit. 2

  

	1.	For the Naphtha Fractionation Unit, the expected conversion ratio of light naphtha and heavy naphtha to isopentane, ISOM feed, intermediate naphtha and reformer feed is 1 BBL to 1 BBL. 

Examples of the reduction in Tolling Fees and the Minimum Throughput Commitment for non-Force Majeure Events that may occur under
Section 2.2(d)(1) and (2) of the Agreement are as follows: 
 Section 2.2(d)(1) – The Minimum Throughput Commitment of
48,750 BPD of light naphtha and heavy naphtha converts to 48,750 BPD of isopentane, ISOM feed, intermediate naphtha and reformer feed (the “NFC Products”) based on a Conversion Ratio of 1 to 1. If the NFC Products produced are
46,312.5 BPD (95%) or more, then there would be no adjustment to the Tolling Fee. 
 Example A: If the Minimum Throughput Commitment of Feedstock is
delivered by the Applicable Refinery Owner to HEP Operating at the Applicable Asset for a particular Contract Quarter and the NFC Products produced by HEP Operating for such Contract Quarter is on average 43,875 BPD (90% of the Conversion Ratio for
the Minimum Throughput Commitment), the Tolling Fee for such Contract Quarter would be reduced by 5% from $.36 per BBL (100%) to $.342 per BBL (95%). 

Example B: If the Minimum Throughput Commitment of Feedstock is delivered by the Applicable Refinery Owner to HEP Operating at the Applicable Asset for a
particular Contract Quarter and the NFC Products produced by HEP Operating for such Contract Quarter is on average 41,437.5 BPD (85% of the Conversion Ratio for the Minimum Throughput Commitment), the Tolling Fee for such Contract Quarter would be
reduced by 10% from $.36 BBL (100%) to $.324 per BBL (90%). 

  
 Exhibit F-1 

 Section 2.2(d)(2) – If the Aggregate Capacity of any Applicable Asset for any Contract Quarter is
less than the Minimum Throughput Commitment for such Applicable Asset for such Contract Quarter, then the Minimum Throughput Commitment for such Applicable Asset for such Contract Quarter will be reduced by a percentage equal to (A) 100% minus
(B) the percentage represented by the ratio of (i) the Aggregate Capacity for such Applicable Asset for such Contract Quarter to (ii) the Minimum Throughput Commitment for such Applicable Asset for such Contract Quarter. 

Example A: If the Aggregate Capacity of any Applicable Asset for a Contract Quarter is on average 46,312.5 BPD (95% of the Minimum Throughput Commitment for
such Contract Quarter), then the Minimum Throughput Commitment for such Contract Quarter would be reduced to 46,312.5 BPD of light naphtha and heavy naphtha (95% of the Minimum Throughput Commitment for such Contract Quarter). 

Example B: If the Aggregate Capacity of any Applicable Asset for a Contract Quarter is on average 43,875 BPD (90% of the Minimum Throughput Commitment for
such Contract Quarter), then the Minimum Throughput Commitment for such Contract Quarter would be reduced to 43,875 BPD of light naphtha and heavy naphtha (90% of the Minimum Throughput Commitment for such Contract Quarter). 

 

	2.	For the Crude Unit 2, the expected conversion ratio of Feedstock to Products is 1 BBL to 1 BBL. For the FCC Unit 2, the expected conversion ratio is 1 BBL to 1.03 BBL. For the Polymerization Unit, the expected
conversion ratio is 1 BBL to 0.90 BBL. The examples in footnote 1 above demonstrate the reduction in Tolling Fees and Minimum Throughput Commitments for non-Force Majeure Events that may occur under Section 2.2(d)(1) and (2) of the
Agreement for the Woods Cross Assets. 

  
 Exhibit F-2 

 Exhibit G 

to 
 Amended and Restated
Master Tolling Agreement 
  
  

Increase in Tolling Fees as a Result of Changes in Applicable Law 

 

					
	
Applicable
 Assets
	  	Types of Tolling Fees that may be increased (as 
applicable)	  	Threshold
	El Dorado Assets	  	Naphtha Fractionation Unit Tolling Fee	  	 No Tolling Fees may be amended until HEP Operating
has made capital expenditures of $2,000,000 in the aggregate with respect to the El Dorado Assets in order to comply with new Applicable Laws.
  

Thereafter, HEP Operating may amend the applicable Tolling Fee to recover its full cost of complying with the new Applicable Laws and such recovery shall not
be limited to amounts in excess of $2,000,000.

	 	 	 
	Woods Cross Assets	  	 Crude Unit 2 Tolling Fee

FCC Unit 2 Tolling Fee
 Poly Unit Tolling Fee
	  	 No Tolling Fees may be amended until HEP Operating
has made capital expenditures of $5,000,000 in the aggregate with respect to the Woods Cross Assets in order to comply with new Applicable Laws.
  

Thereafter, HEP Operating may amend the applicable Tolling Fee to recover its full cost of complying with the new Applicable Laws and such recovery shall not
be limited to amounts in excess of $5,000,000.

  
 Exhibit G-1EX-10.3

 Exhibit 10.3 

Execution Version 
  

 
  

SIXTEENTH AMENDED AND RESTATED OMNIBUS AGREEMENT 

among 
 HOLLYFRONTIER
CORPORATION, 
 HOLLY ENERGY PARTNERS, L.P. 

and 
 CERTAIN OF THEIR
RESPECTIVE SUBSIDIARIES 
 October 1, 2016 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS AND INTERPRETATIONS
	  	 	2	  
			
	 1.1
	 	DEFINITIONS	  	 	2	  
	 1.2
	 	INTERPRETATION	  	 	2	  
		
	 ARTICLE II BUSINESS OPPORTUNITIES
	  	 	3	  
			
	 2.1
	 	RESTRICTED BUSINESSES	  	 	3	  
	 2.2
	 	PERMITTED EXCEPTIONS	  	 	3	  
	 2.3
	 	RIGHT OF OFFER	  	 	3	  
	 2.4
	 	PROCEDURE FOR OFFERING ACQUIRED OR CONSTRUCTED ASSETS TO HEP	  	 	4	  
	 2.5
	 	SCOPE OF PROHIBITION	  	 	6	  
	 2.6
	 	ENFORCEMENT	  	 	6	  
	 2.7
	 	LIMITATION ON ACQUISITIONS OF PERMITTED ASSETS BY HEP GROUP MEMBERS	  	 	6	  
	 2.8
	 	TERMINATION OF ARTICLE II	  	 	6	  
		
	 ARTICLE III INDEMNIFICATION
	  	 	6	  
			
	 3.1
	 	CONDITIONS OF INDEMNIFICATION BY THE HFC ENTITIES	  	 	6	  
	 3.2
	 	INDEMNIFICATION BY THE HFC ENTITIES	  	 	6	  
	 3.3
	 	CONDITIONS OF INDEMNIFICATION BY HEP ENTITIES	  	 	8	  
	 3.4
	 	INDEMNIFICATION BY HEP ENTITIES	  	 	9	  
	 3.5
	 	MUTUAL GENERAL INDEMNITY	  	 	9	  
	 3.6
	 	EXCLUSIONS FROM INDEMNITY FOR POST-CLOSING DATE CLAIMS	  	 	9	  
	 3.7
	 	INDEMNIFICATION PROCEDURES	  	 	10	  
	 3.8
	 	LIMITATION ON INDEMNIFICATION OBLIGATIONS	  	 	11	  
	 3.9
	 	WAIVER OF SUBROGATION	  	 	12	  
		
	 ARTICLE IV GENERAL AND ADMINISTRATIVE EXPENSES
	  	 	12	  
			
	 4.1
	 	GENERAL	  	 	12	  
		
	 ARTICLE V RIGHT OF FIRST REFUSAL
	  	 	13	  
			
	 5.1
	 	HFC RIGHT OF FIRST REFUSAL: PROHIBITION ON FURTHER TRANSFER OF TRANSFERRED
ASSETS	  	 	13	  
	 5.2
	 	PROCEDURES	  	 	14	  
		
	 ARTICLE VI HFC PURCHASE OPTION
	  	 	17	  
			
	 6.1
	 	OPTION TO PURCHASE TULSA TRANSFERRED ASSETS	  	 	17	  
		
	 ARTICLE VII API INSPECTIONS
	  	 	17	  
			
	 7.1
	 	API INSPECTIONS	  	 	17	  
		
	 ARTICLE VIII DISPUTE RESOLUTION
	  	 	17	  
			
	 8.1
	 	DISPUTE RESOLUTION	  	 	17	  
	 8.2
	 	ARBITRATION	  	 	18	  
	 8.3
	 	CONFLICT	  	 	19	  
		
	 ARTICLE IX FORCE MAJEURE
	  	 	19	  
			
	 9.1
	 	FORCE MAJEURE	  	 	19	  
		
	 ARTICLE X MISCELLANEOUS
	  	 	19	  
			
	 10.1
	 	CHOICE OF LAW	  	 	19	  
	 10.2
	 	NOTICES	  	 	19	  
	 10.3
	 	ENTIRE AGREEMENT	  	 	20	  

  
 i 

							
	 10.4
	 	AMENDMENT OR MODIFICATION	  	 	20	  
	 10.5
	 	ASSIGNMENT	  	 	21	  
	 10.6
	 	COUNTERPARTS	  	 	21	  
	 10.7
	 	SEVERABILITY	  	 	21	  
	 10.8
	 	FURTHER ASSURANCES	  	 	21	  
	 10.9
	 	RIGHTS OF LIMITED PARTNERS	  	 	21	  
	 10.10
	 	HEADINGS	  	 	21	  
	 10.11
	 	LIMITATION OF DAMAGES	  	 	21	  
	 10.12
	 	NATURE OF THE RELATIONSHIP	  	 	22	  

 EXHIBITS 
  

	
	 Exhibit A - Omnibus Agreement Amendments

	 Exhibit B - Definitions

	 Exhibit C - Interpretation

	 Exhibit D - Asset Indemnification Summary

	 Exhibit E - Administrative Fee

  
 ii 

 SIXTEENTH AMENDED AND RESTATED 

OMNIBUS AGREEMENT 
 THIS
SIXTEENTH AMENDED AND RESTATED OMNIBUS AGREEMENT (this “Agreement”) is being entered into on October 3, 2016 and effective as of October 1, 2016 (the “Effective Date”), by and among the following entities
(all Delaware limited liability companies unless otherwise noted): 
  

	
	 HollyFrontier Corporation, a Delaware corporation (“HFC”), and its Affiliates listed below
(singularly, “HFC Entity”; and with HFC collectively, the “HFC Entities”):

	
	 El Paso Logistics LLC (“El Paso Logistics”)

	
	 HollyFrontier El Dorado Refining LLC (“HollyFrontier El Dorado”)

	
	 HollyFrontier Cheyenne Refining LLC (“HollyFrontier Cheyenne”)

	
	 HollyFrontier Tulsa Refining LLC (“HollyFrontier Tulsa”)

	
	 HollyFrontier Woods Cross Refining LLC (“HollyFrontier Woods Cross”)

	
	 Navajo Pipeline Co., L.P., a Delaware limited partnership (“Navajo Pipeline”)

	
	 HollyFrontier Navajo Refining LLC (“HollyFrontier Navajo”)

	
	 HollyFrontier Refining & Marketing LLC (“HFRM”)

	
	 Frontier Pipeline LLC (“Frontier Pipeline”)

	
	AND
	
	 Holly Energy Partners, L.P., a Delaware limited partnership (“HEP”), and its Affiliates listed below
(singularly, “HEP Entity”; and with HEP collectively, the “HEP Entities”):

	
	 Cheyenne Logistics LLC (“Cheyenne Logistics”)

	
	 El Dorado Logistics LLC (“El Dorado Logistics”)

	
	 El Dorado Operating LLC (“El Dorado Operating”)

	
	 El Dorado Osage LLC (“El Dorado Osage”)

	
	 HEP El Dorado LLC (“HEP El Dorado”)

	
	 HEP Logistics GP, L.L.C. (the “OLP GP”)

	
	 HEP Logistics Holdings, L.P., a Delaware limited partnership (the “General Partner”)

	
	 HEP Mountain Home, L.L.C.

	
	 HEP Navajo Southern, L.P., a Delaware limited partnership

	
	 HEP Pipeline Assets, Limited Partnership, a Delaware limited partnership

	
	 HEP Pipeline GP, L.L.C.

	
	 HEP Pipeline, L.L.C. (“HEP Pipeline”)

	
	 HEP Refining Assets, L.P., a Delaware limited partnership (“HEP Refining Assets”)

	
	 HEP Refining GP, L.L.C.

  
 1 

	
	 HEP Refining, L.L.C. (“HEP Refining”)

	
	 HEP Tulsa LLC (“HEP Tulsa”)

	
	 HEP UNEV Holdings LLC (“HEP UNEV”)

	
	 HEP UNEV Pipeline LLC (“HEP UNEV Pipeline”)

	
	 HEP Woods Cross, L.L.C.

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

	
	 Holly Energy Storage – Lovington LLC

	
	 Holly Logistic Services, L.L.C. (“Holly GP”),

	
	 Lovington-Artesia, L.L.C.

	
	 Roadrunner Pipeline, L.L.C. (“Roadrunner”)

	
	 Woods Cross Operating LLC (“Woods Cross Operating”)

 This Agreement amends and restates in its entirety the Fifteenth Amended and Restated Omnibus Agreement,
effective as of March 31, 2016, among certain of the HFC Entities and certain of the HEP Entities which were signatories thereto (the “Fifteenth Amended and Restated Omnibus Agreement”). 

RECITALS: 
 WHEREAS, the
Parties entered into an Omnibus Agreement on July 13, 2004 (as amended, the “Original Omnibus Agreement”) to evidence their agreement with respect to various administrative, indemnity and other obligations, which agreement has
been further amended and restated as set forth on Exhibit A, resulting in the Fifteenth Amended and Restated Omnibus Agreement. 

WHEREAS, the Parties desire to amend and restate the Fifteenth Amended and Restated Omnibus Agreement as provided herein in order to, among
other things, consolidate terms from various other agreements between the parties and to clarify terms as more particularly set forth herein. 

AGREEMENT: 
 NOW,
THEREFORE, in consideration of the premises and the covenants, conditions and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as
follows: 
 ARTICLE I 

DEFINITIONS AND INTERPRETATIONS 

1.1 Definitions. Capitalized terms used throughout this Agreement and not otherwise defined herein shall have the meanings set
forth on Exhibit B. 
 1.2 Interpretation. Matters relating to the interpretation of this Agreement are set forth on
Exhibit C. 

  
 2 

 ARTICLE II 

BUSINESS OPPORTUNITIES 

2.1 Restricted Businesses. For so long as a HFC Group Member owns a controlling interest in the general partner of HEP, and except as
permitted by Section 2.2, Holly GP and each HFC Group Member shall be prohibited from engaging in or acquiring a controlling interest in or operating any business having assets or operations engaged in the Restricted Businesses. 

2.2 Permitted Exceptions. Notwithstanding any provision of Section 2.1 to the contrary, Holly GP and the HFC Group Members
may engage in the following activities under the following circumstances: 
  

	 	(a)	the ownership and/or operation of any of the Retained Assets (including replacements of the Retained Assets); 

  

	 	(b)	any Restricted Businesses conducted by a HFC Group Member and Holly GP with the approval of the General Partner; 

  

	 	(c)	the ownership and/or operation of Restricted Businesses by an HFC Entity or Holly GP in its capacity as general partner of HEP or its general partner; 

 

	 	(d)	the ownership and/or operation of any asset or group of related assets used in the Restricted Business that are acquired or constructed by a HFC Group Member or Holly GP after the Closing Date (the “Permitted
Assets”), the fair market value of which (as determined in good faith by the Board of Directors of HFC) is as follows: 

  

	 	(i)	less than $5 million at the time of such acquisition or good faith estimate of construction costs, as the case may be; or 

  

	 	(ii)	equal to or greater than $5 million at the time of the acquisition or good faith estimate of construction costs; provided, HEP has been offered the opportunity to purchase the Permitted Assets in accordance with
Section 2.3 and HEP has elected not to purchase the Permitted Assets; 

  

	 	(e)	the ownership of the UNEV Profits Interest; 

  

	 	(f)	the ownership of limited or any general partnership interests in HEP; and 

  

	 	(g)	the ownership and/or operation of the El Paso Hawkins Terminal. 

 2.3 Right of Offer.

  

	 	(a)	If Holly GP or a HFC Group Member becomes aware of an opportunity to acquire Permitted Assets with a fair market value (as determined in good faith by the Board of Directors of HFC) equal to or greater than $5 million,
then, subject to Section 2.3(c), as soon as practicable, Holly GP or such HFC Group Member shall notify HEP of such opportunity and deliver to HEP, or provide HEP access to all information prepared by or on behalf of, or material
information submitted or delivered to, Holly GP or such HFC Group Member relating to such potential transaction. As soon as practicable, but in any event within 30 days after receipt of such notification and information, HEP shall notify Holly GP or
the HFC Group Member that it has either elected: 

  

	 	(i)	not to cause a HEP Group Member to pursue the opportunity to purchase the Permitted Assets, or 

  
 3 

	 	(ii)	to cause a HEP Group Member to pursue the opportunity to purchase the Permitted Assets, in which case the applicable Parties shall follow the procedures in Section 2.4. 

 

	 	(b)	If, at any time, HEP abandons such opportunity (as evidenced in writing by HEP to the HFC Group Member), Holly GP or the HFC Group Member may pursue such opportunity. Any Permitted Assets which are permitted to be
acquired by Holly GP or a HFC Group Member must be so acquired: 

  

	 	(i)	within 12 months of the later to occur of (A) the date that Holly GP or the HFC Group Member becomes able to pursue such acquisition in accordance with the provisions of this Section 2.3, and
(B) the date upon which all required governmental approvals to consummate such acquisition have been obtained, and 

  

	 	(ii)	on terms not materially more favorable to Holly GP or the HFC Group Member than were offered to HEP. 

If either of these conditions are not satisfied, the opportunity must be reoffered to HEP in accordance with Section 2.3(a). 

 

	 	(c)	Section 2.3(a) shall not apply if Holly GP or a HFC Group Member: 

  

	 	(i)	becomes aware of an opportunity to make an acquisition that includes Permitted Assets and assets that are not Permitted Assets, and the Permitted Assets have a fair market value (as determined in good faith by the Board
of Directors of HFC) equal to or greater than $5 million but comprise less than half of the fair market value (as determined in good faith by the Board of Directors of HFC) of the total assets being considered for acquisition, or 

 

	 	(ii)	desires to construct Permitted Assets with an estimated construction cost (as determined in good faith by the Board of Directors of HFC) equal to or greater than $5 million; 

provided, however, that in each case Holly GP or a HFC Group Member, as the case may be, shall comply with Section 2.4. 

2.4 Procedure for Offering Acquired or Constructed Assets to HEP. 

 

	 	(a)	 Within 180 days after the consummation of the acquisition or the completion of construction by Holly GP or a HFC
Group Member of the Permitted Assets, as the case may be, Holly GP or the HFC Group Member shall notify HEP in writing of such acquisition or construction and offer HEP the opportunity to purchase such Permitted Assets (the
“Offer”). The Offer shall set forth the terms 

  
 4 

	 	
relating to the purchase of the Permitted Assets, and, if Holly GP or any HFC Group Member desires to utilize the Permitted Assets, the Offer will also include (i) the commercially
reasonable terms on which the HEP Group will provide services to Holly GP or the HFC Group Member to enable Holly GP or the HFC Group Member to utilize the Permitted Assets and (ii) the terms of any service agreements, leases or access
agreements to be provided to HEP by Holly GP or the HFC Group relating to such assets. As soon as practicable, but in any event within 30 days after receipt of such written notification, HEP shall notify Holly GP or the HFC Group Member in writing
that HEP has elected (i) not to cause a HEP Group Member to purchase the Permitted Assets, in which event Holly GP or the HFC Group Member shall be forever free to continue to own or operate such Permitted Assets, or (ii) to cause a HEP
Group Member to purchase the Permitted Assets, in which event Section 2.4(b) and Section 2.4(c) shall apply. 

  

	 	(b)	If within 60 days after receipt by HEP of the Offer, Holly GP or the HFC Group Member and HEP are able to agree on the fair market value of the subject Permitted Assets and the other terms of the Offer including, the
terms, if any, on which the HEP Group will provide services to Holly GP or the HFC Group Member to enable it to utilize the Permitted Assets, a HEP Group Member shall purchase the Permitted Assets for the agreed upon fair market value as soon as
commercially practicable after such agreement has been reached and, if required by the Offer or otherwise agreed, enter into an agreement with Holly GP or the HFC Group Member to provide services in a manner consistent with the Offer.

  

	 	(c)	If Holly GP or the HFC Group Member and HEP are unable to agree within 60 days after receipt by HEP of the Offer on the fair market value of the subject Permitted Assets and/or the other terms of the Offer, Holly GP or
the HFC Entity, on the one hand, and HEP, on the other hand, will engage a mutually agreed upon investment banking firm to determine the disputed terms. Such investment banking firm will determine the disputed terms within 30 days of its engagement
and furnish Holly GP or the HFC Group Member, on the one hand, and HEP, on the other hand, its determination. The fees of the investment banking firm will be split equally between Holly GP or the HFC Group Member, on the one hand, and HEP, on the
other hand. Once the investment banking firm has submitted its determination of the disputed terms, HEP will have the right, but not the obligation, to cause a HEP Group Member to purchase the Permitted Assets pursuant to the Offer as modified by
the determination of the investment banking firm. HEP will provide written notice of its decision to Holly GP or the HFC Group Member within 30 days after the investment banking firm has submitted its determination. Failure to provide such notice
within such 30-day period shall be deemed to constitute a decision not to purchase the Permitted Assets. If HEP elects to cause a HEP Group Member to purchase the Permitted Assets, then the HEP Group Member shall purchase the Permitted Assets
pursuant to the Offer as modified by the determination of the investment banking firm as soon as commercially practicable after such determination and, if applicable, enter into an agreement with Holly GP or the HFC Group Member to provide services
in a manner consistent with the Offer, as modified by the determination of the investment banking firm, if applicable. 

  
 5 

 2.5 Scope of Prohibition. Except as provided in this Article II and the Partnership
Agreement, Holly GP and each HFC Group Member shall be free to engage in any business activity, including those that may be in direct competition with any HEP Group Member. 

2.6 Enforcement. Holly GP and the HFC Group Members agree and acknowledge that the HEP Group does not have an adequate remedy at law
for the breach by Holly GP and the HFC Group of the covenants and agreements set forth in this Article II, and that any breach by Holly GP and the HFC Group of the covenants and agreements set forth in this Article II would result in
irreparable injury to the HEP Group. Holly GP and the HFC Group Members further agree and acknowledge that any HEP Group Member may, in addition to the other remedies that may be available to the HEP Group, file a suit in equity to enjoin Holly GP
and the HFC Group from such breach and hereby consent to the issuance of injunctive relief under this Agreement. 
 2.7 Limitation on
Acquisitions of Permitted Assets by HEP Group Members. Notwithstanding anything in this Agreement to the contrary, a HEP Group Member who is not a party to this Agreement is prohibited from acquiring Permitted Assets. In the event HEP desires a
HEP Group Member who is not a party to this Agreement to acquire any Permitted Assets, then the General Partner shall first cause such HEP Group Member to become a party to this Agreement. 

2.8 Termination of Article II. The provisions of this Article II may be terminated by HFC upon a Change of Control of HFC. 

ARTICLE III 

INDEMNIFICATION 
 3.1
Conditions of Indemnification by the HFC Entities. All indemnities set forth in Section 3.2 are subject to the following conditions: 
  

	 	(a)	Except for the indemnity in Sections 3.2(a)(ii), (vii) and (viii), indemnities apply only to the Transferred Assets and only until the applicable expiration date, if any, related to each such
Transferred Asset shown on Exhibit D. 

  

	 	(b)	The aggregate liability of the HFC Entities for all Covered Environmental Losses under Section 3.2(a) shall not exceed the amounts shown in column (b) on Exhibit D. The liability limits listed in
column (b) represent separate individual limits for each location. 

  

	 	(c)	Indemnities in Section 3.2(a)(i) apply only to the extent that such events or conditions occurred before the applicable Closing Date. 

3.2 Indemnification by the HFC Entities. 
  

	 	(a)	Subject to Section 3.1, the HFC Entities shall indemnify, defend and hold harmless the HEP Entities from and against any Liability or Claim incurred by the HEP Entities or any Third Party to the extent
arising out of: 

  

	 	(i)	the Covered Environmental Losses relating to the Transferred Assets to the extent caused by the acts or omissions of an HFC Entity; 

  

	 	(ii)	the ownership or operation by HFC and its Affiliates of any asset not constituting part of the Transferred Assets, except to the extent arising out of the negligent acts or omissions or willful misconduct of HEP or any
of its Affiliates; 

  
 6 

	 	(iii)	the failure of the applicable HEP Entity to be the owner of valid and indefeasible easement rights or fee ownership for interests in and to the lands on which any pipeline or related pump station, tank farm or equipment
conveyed or contributed or otherwise Transferred (including by way of a Transfer of the ownership interest of a Person or by operation of law) to the applicable HEP Entity on the applicable Closing Date; 

 

	 	(iv)	the failure of the applicable HEP Entity to have the consents, licenses and permits necessary to allow any such Transferred Assets referred to in Section 3.2(a)(iii) to cross the roads, waterways, railroads
and other areas upon which any such Transferred Assets are located as of the Closing Date; 

  

	 	(v)	the cost of curing any condition set forth in clauses (iii) or (iv) above to the extent such conditions do not allow any Transferred Asset to be operated in accordance with Prudent Industry Practice;

  

	 	(vi)	the following: 

  

	 	(A)	events and conditions associated with the operation of the Transferred Assets before the Closing Date (other than Covered Environmental Losses which are provided for under Section 3.2(a)(i) and events and
conditions covered by Section 3.4); 

  

	 	(B)	all legal actions pending against the HFC Entities on July 13, 2004; 

  

	 	(C)	the completion of remediation projects at the respective HEP Entity’s El Paso Hawkins Terminal, Albuquerque terminal and Mountain Home terminal that were ongoing or scheduled as of July 13, 2004;

  

	 	(D)	events and conditions associated with the Retained Assets and whether occurring before or after the Closing Date; 

  

	 	(E)	all federal, state and local tax liabilities attributable to the operation or ownership of the Transferred Assets prior to the applicable Closing Date, including any such tax liabilities of the HFC Entities that may
result from the consummation of the formation transactions for the HEP Entities and the General Partner; and 

  

	 	(F)	any breach by HollyFrontier Tulsa of the representations and warranties set forth in Section 3.9 of the Master Lease and Access Agreement. 

  
 7 

	 	(vii)	the operation by HEP and its Affiliates of any assets owned by HFC or any of its Affiliates, except to the extent arising out of the gross negligence or willful misconduct of HEP or any of its Affiliates;

  

	 	(viii)	any failure to perform any covenant or agreement made or undertaken by HFC or its Affiliates in the (A) Master Lease and Access Agreement, or the exercise by HFC or its Affiliates of any rights and obligations
under Section 2.2 thereof; or (B) Services and Secondment Agreement; except in either case to the extent arising out of the willful misconduct or negligence (standard negligence or gross negligence) of HEP or any of its Affiliates; and

  

	 	(ix)	any failure of HEP or any of its Affiliates to perform its obligations pursuant to the Storage and Handling Agreement to the extent arising after February 22, 2016, except to the extent arising out of gross
negligence and willful misconduct of HEP or any of its Affiliates. 

  

	 	(b)	The indemnities provided for in Section 3.2(a)(i) through (v) shall only apply if the HFC Entities are notified in writing of any of the foregoing prior to the applicable expiration date listed
in column (b) on Exhibit D. 

  

	 	(c)	The indemnities provided for in Section 3.2(a)(vi) shall only apply if to the extent that the HFC Entities are notified in writing of any of the following events and conditions within five years after the
applicable Closing Date. 

  

	 	(d)	Notwithstanding anything in this Agreement to the contrary, because HEP has been involved since the inception with the following Transferred Assets, as used in this Section 3.2, the definition of
“Transferred Assets” shall not include the 16” Lovington/Artesia Intermediate Pipeline, the Beeson Pipeline, the Roadrunner Pipeline, the Tulsa Interconnecting Pipelines, and the UNEV Pipeline. 

 

	 	(e)	To the extent that a good faith Claim by the HEP Entities for indemnification under Section 3.2(a) arises from events or conditions at the Transferred Tanks or the soil immediately underneath the Transferred
Tanks or the Transferred Tanks’ secondary containment, and the HFC Entities refuse to provide such indemnification, then the burden of proof shall be on the HFC Entities to demonstrate that the events or conditions giving rise to the Claim
arose after the Closing Date. 

  

	 	(f)	As used in this Section 3.2, “Affiliates” of the Indemnifying Party shall not include the HEP Group Members when a HFC Entity is the Indemnifying Party and shall not include the HFC Group Members
when the Indemnifying Party is a HEP Entity. 

 3.3 Conditions of Indemnification by the HEP Entities.
The indemnities set forth in Section 3.4 apply only to the extent that such events or conditions occurred on or after the applicable Closing Date, if any. 

  
 8 

 3.4 Indemnification by the HEP Entities.  

 

	 	(a)	Subject to Section 3.3, the HEP Entities shall indemnify, defend and hold harmless the HFC Entities from and against any Liability or Claim suffered or incurred by the HFC Entities or any Third Party to the
extent arising from: 

  

	 	(i)	the Covered Environmental Losses associated with operation of (A) the Other Assets, and (B) the Transferred Assets by a Person (other than a HFC Entity or ownership and operation of the Transferred Assets by a
Person other than a HFC Entity); 

  

	 	(ii)	operation by HEP and HEP’s Affiliates of any asset owned by HFC or any of HFC’s Affiliates but only to the extent caused by the gross negligence or willful misconduct of any of the HEP Entities; and

  

	 	(iii)	any failure to perform any covenant or agreement made or undertaken by any HEP or its Affiliates in the (A) Master Lease and Access Agreement, or the exercise by HEP or its Affiliates of any rights and obligations
under Section 2.2 thereof; or (B) Services and Secondment Agreement; except in either case to the extent arising out of the willful misconduct or negligence (standard negligence or gross negligence) of HFC or any of its Affiliates.

  

	 	(b)	Nothing set forth in Section 3.4(a) shall make the HEP Entities responsible for any post-Closing Date negligent actions or omissions or willful misconduct by the HFC Entities. 

3.5 Mutual General Indemnity. Following the applicable Closing Dates, the HFC Entities and the HEP Entities, respectively, agree to
indemnify, protect, defend and hold harmless each other from and against any and all Liabilities and Claims based upon, in connection with, relating to or arising out of their respective actions or inactions in connection with the operation of the
Indemnifying Party’s respective assets or any failure to comply with any Applicable Laws; in any case of or by any Indemnifying Party or its subcontractors, suppliers, materialmen, employees, agents, successors and assigns, or other persons
directly or indirectly employed by them, including the following: 
  

	 	(a)	any injury to or death of any Person or the damage to or theft, destruction, loss or loss of use of, any property; or 

  

	 	(b)	the failure to perform any covenant or agreement made or undertaken by the applicable Party in agreements with any of the other Parties. 

3.6 Exclusions from Indemnity for Post-Closing Date Claims. NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY,
FOR ANY LIABILITIES OR CLAIMS ARISING OUT OF EVENTS OCCURRING AFTER AN APPLICABLE CLOSING DATE:  
  

	 	(a)	EXCEPT AS EXPRESSLY PROVIDED IN SECTION 3.2(a)(vii), THE INDEMNIFICATION OBLIGATIONS HEREIN SHALL NOT EXTEND TO THE PROPORTIONATE AMOUNT OF ANY SUCH LIABILITY OR CLAIM CAUSED BY THE NEGLIGENCE OR WILLFUL
MISCONDUCT OF AN INDEMNITEE OR ITS AGENTS OR EMPLOYEES. 

  
 9 

	 	(b)	No statute, rule or regulation that precludes an injured party from bringing an action against a fellow employee or employer shall preclude a Party from seeking and obtaining a judicial determination of the fault or
negligence of such Persons. 

  

	 	(c)	Each Party shall be responsible for any insurance deductibles or self-insured retention arising out of any Liability or Claim to the extent such Liability or Claim arises out of the negligence or willful misconduct of
such Party, except to the extent the subrogation waiver provided for in Section 3.9 applies to such Liability or Claim. 

3.7 Indemnification Procedures. 
  

	 	(a)	The Indemnified Party agrees that promptly after it becomes aware of facts giving rise to a Claim for indemnification under this Article III, it will provide notice thereof in writing to the Indemnifying Party,
specifying the nature of and specific basis for such Claim. 

  

	 	(b)	The Indemnifying Party shall have the right to control all aspects of the defense of (and any counterclaims with respect to) any claims brought against the Indemnified Party that are covered by the indemnification under
this Article III, including, the selection of counsel, determination of whether to appeal any decision of any court and the settling of any such matter or any issues relating thereto; provided, however, that no such settlement shall be
entered into without the consent of the Indemnified Party unless it includes a full release of the Indemnified Party from such matter or issues, as the case may be. 

 

	 	(c)	The Indemnified Party agrees to cooperate fully with the Indemnifying Party, with respect to all aspects of the defense of any Claims covered by the indemnification under this Article III, including, the prompt
furnishing to the Indemnifying Party of any correspondence or other notice relating thereto that the Indemnified Party may receive, permitting the name of the Indemnified Party to be utilized in connection with such defense, the making available to
the Indemnifying Party of any files, records or other information of the Indemnified Party that the Indemnifying Party considers relevant to such defense and making available to the Indemnifying Party any employees of the Indemnified Party.

  

	 	(d)	In no event shall the obligation of the Indemnified Party to cooperate with the Indemnifying Party as set forth in Section 3.7(c) be construed as imposing upon the Indemnified Party an obligation to hire and
pay for counsel in connection with the defense of any Claims covered by the indemnification set forth in this Article III; provided, however, that the Indemnified Party may, at its own option, cost and expense, hire and pay for counsel in
connection with any such defense. The Indemnifying Party agrees to keep any such counsel hired by the Indemnified Party informed as to the status of any such defense, but the Indemnifying Party shall have the right to retain sole control over such
defense. 

  

	 	(e)	In connection with the indemnities in this Article III, Indemnifying Party: 

  

	 	(i)	agrees to use reasonable efforts to minimize the impact thereof on the operations of the Indemnified Party; 

  
 10 

	 	(ii)	agrees to enter into a joint defense agreement with Indemnifying Party in order to allow communication by counsel if Indemnified Party elects to involve separate counsel; and 

 

	 	(iii)	agrees to maintain the confidentiality of all files, records, and other information furnished by the Indemnified Party pursuant to this Section 3.7. 

 

	 	(f)	The amounts for which an Indemnified Party is entitled to indemnification under this Article III shall be reduced by the net amounts recovered by the Indemnified Party pursuant to contractual indemnities from any
Third Party (other than pursuant to insurance policies that are not required to include a waiver of subrogation pursuant to Section 3.9) after deducting the reasonable unreimbursed out-of-pocket fees and expenses incurred by the
Indemnified Party in recovering such amounts (the “Net Recovery”). If the Indemnified Party receives a Net Recovery subsequent to an indemnification payment by the Indemnifying Party under this Article III, then such
Indemnified Party shall promptly reimburse the Indemnifying Party for any payment made or expense incurred by such Indemnifying Party in connection with providing such indemnification payment up to Net Recovery. An Indemnified Party shall be
obligated to pursue all contractual indemnities (including insurance claims) that such Indemnified Party has with any Third Party, provided, however, if the Indemnified Party’s right to such indemnification is assignable, the Indemnified Party
may, in its sole discretion and in lieu of pursuing such claim, elect to assign such indemnification claim to the Indemnifying Party to pursue and shall reasonably cooperate with the Indemnifying Party (including, making its relevant books, records,
officers, information and testimony reasonably available to the Indemnifying Party) in the Indemnifying Party’s pursuit of such claim. 

  

	 	(g)	For avoidance of doubt, no Claim may be asserted pursuant to Section 3.2 or Section 3.4 following the applicable expiration of the indemnity related to such Claim; provided that any Claim
asserted in writing prior to the expiration date of such indemnity that is the basis for such Claim shall survive until such Claim is finally resolved and satisfied. The date on which notification of a Claim for indemnification is received by the
Indemnifying Party shall determine whether such Claim is timely made. 

 3.8 Limitation on Indemnification Obligations.

  

	 	(a)	Notwithstanding anything in this Agreement to the contrary, when referring to the indemnification obligations of the HFC Entities in Article III, the definition of HFC Entities shall be deemed to mean solely
(i) the HFC Entity or HFC Entities that own or operate, or owned or operated immediately prior to the transfer to the HEP Entities, the Retained Asset, Transferred Asset or other property in question with respect to which indemnification is
sought by reason of such HFC Entity’s or HFC Entities’ ownership or operation of the Retained Asset, Transferred Asset or other property in question or that is responsible for causing such loss, damage, injury, judgment, claim, cost,
expense or other liability suffered or incurred by the HEP Entities for which it is entitled to indemnification under Article III and (ii) HFC. 

  
 11 

	 	(b)	Notwithstanding anything in this Agreement to the contrary, when referring to the indemnification obligations of the HEP Entities in Article III, the definition of HEP Entities shall be deemed to mean solely
(i) the HEP Entity or HEP Entities that own or operate, or previously owned or operated, the Transferred Asset or other property in question or that is responsible for causing such loss, damage, injury, judgment, claim, cost, expense or other
liability suffered or incurred by the HFC Entities for which they are entitled to indemnification under Article III, (ii) HEP and (iii) Operating Partnership. 

 

	 	(c)	For the avoidance of doubt, any indemnification obligations of the HFC Entities in Article III with respect to any indemnifiable losses incurred by or attributable to the UNEV Pipeline shall be (i) limited
to an amount that is the product of (x) the amount of such losses, multiplied by (y) HEP UNEV’s direct or indirect percentage ownership interest in the UNEV Pipeline at the time such losses were incurred and (ii) payable to, for
the benefit of and recoverable solely by HEP UNEV or any HEP Entity designated by HEP UNEV (and not by UNEV Pipeline, LLC). 

3.9 Subrogation; Waiver of Subrogation. To the extent that any of the HFC Entities or HEP Entities in fact receive full indemnification
payments pursuant to Section 3.2(a)(viii) or Section 3.4(a)(iii) hereof, as the case may be, the HFC Entity or HEP Entity paying such Claim shall be subrogated to the receiving party’s rights with respect to the
transaction or event requiring or giving rise to such indemnity. Notwithstanding the foregoing, each of the HFC Entities and the HEP Entities, hereby waives and releases, and shall cause their respective insurers, to waive and release, all rights
against each other and any of their respective contractors, subsidiaries, consultants, agents and employees for loss or damages to any of the Transferred Assets to the extent of fire and other hazards covered by property insurance applicable to the
property to which such loss or damage occurs, except such rights as they have to proceeds of such insurance. For the purposes of this Section 3.9, all deductibles shall be considered insured losses. Without limiting the foregoing, all of
the Parties’ policies of property insurance for the Transferred Assets shall be endorsed to provide a complete waiver for the benefit of the other Parties and their Affiliates of (i) any right of recovery which the insurer may have or
acquire against the other Parties or any of its Affiliates, or its or their employees, officers or directors for payments made or to be made under such policies and (ii) any lien or right of subrogation which the insurer may have or acquire for
payments made or to be made to any person or entity who asserts a Claim against such other Parties or any of its Affiliates, or its or their employees, officers or directors. The releases and waivers of subrogation set forth above in this paragraph
shall apply notwithstanding any obligation of a Party to indemnify the other Party for the Claim(s) at issue. 
 ARTICLE IV 

GENERAL AND ADMINISTRATIVE EXPENSES 

4.1 General. 
  

	 	(a)	The Operating Partnership will pay HFC an administrative fee (the “Administrative Fee”) in the amount set forth on Exhibit E, payable in equal quarterly installments, for the provision by HFC and
its Affiliates for the HEP Group’s benefit of all the general and administrative services that HFC and its Affiliates provide, including, the general and administrative services listed on Exhibit E. 

  
 12 

	 	(b)	HEP and HFC shall also periodically assess and increase the Administrative Fee in connection with expansions of the operations of the HEP Group through the acquisition or construction of new assets or businesses.

  

	 	(c)	At the end of each year, HEP will have the right to submit to HFC a proposal to reduce the amount of the Administrative Fee for that year if HEP believes in good faith that the general and administrative services
performed by HFC and its Affiliates for the benefit of the HEP Group for the year in question do not justify payment of the full Administrative Fee for that year. If HEP submits such a proposal to HFC, HFC agrees that it will negotiate in good faith
with HEP to determine if the Administrative Fee for that year should be reduced and, if so, the amount of such reduction. 

  

	 	(d)	The Administrative Fee shall not include and the HEP Group shall reimburse HFC and its Affiliates for: 

  

	 	(i)	salaries of employees of HFC or its Affiliates, to the extent, but only to the extent, such employees perform services for the HEP Group; 

 

	 	(ii)	the cost of employee benefits relating to employees of HFC or its Affiliates, such as 401(k), pension, and health insurance benefits, to the extent, but only to the extent, such employees perform services for the HEP
Group and have not been paid by HEP pursuant to the Master Site Services Agreement and the Services and Secondment Agreement; 

  

	 	(iii)	any amounts payable under the Master Site Services Agreement and the Services and Secondment Agreement; 

  

	 	(iv)	all sales, use, excise, value added or similar taxes, if any, that may be applicable from time to time in respect of the services provided by the HFC and its Affiliates to HEP pursuant to Section 4.1(a); and

  

	 	(v)	all premiums for insurance policies carried for and on behalf of HEP. 

  

	 	(e)	Either HFC, on the one hand, or HEP, on the other hand, may terminate this Article IV, by providing the other with written notice of its election to do so at least six months prior to the proposed date of
termination.  

 ARTICLE V 

RIGHT OF FIRST REFUSAL 

5.1 HFC Right of First Refusal: Prohibition on Transfer. 
  

	 	(a)	The HEP Entities hereby grant to HFC a right of first refusal on any proposed Transfer (other than a grant of a security interest to a bona fide third-party lender or a Transfer to another HEP Group Member) of any of
the Assets. 

  

	 	(b)	The HEP Entities are prohibited from Transferring any of the Assets to a HEP Group Member that is not a party to this Agreement. In the event the HEP Entities desire to Transfer any of the Assets to a HEP Group Member
that is not a Party to this Agreement, they shall first cause the proposed transferee HEP Group Member to become a Party to this Agreement. 

  
 13 

	 	(c)	The Parties acknowledge that all potential Transfers of Sale Assets pursuant to this Article V are subject to obtaining any and all required written consents of governmental authorities and other third parties
and to the terms of all existing agreements in respect of the Sale Assets. 

  

	 	(d)	Notwithstanding anything in this Agreement to the contrary, as used in Article V the definition of “Assets” shall not include the Tulsa Transferred Assets or the UNEV Pipeline, but shall expressly
include the equity interests of UNEV Pipeline, LLC, HEP UNEV Pipeline, HEP UNEV, El Dorado Osage and Osage then owned directly or indirectly by the HEP Entities. 

5.2 Procedures. 
  

	 	(a)	If a HEP Entity proposes to Transfer any of the Assets to any Person pursuant to a bona fide third-party offer (an “Acquisition Proposal”), then HEP shall promptly give written notice (a
“Disposition Notice”) thereof to HFC. The Disposition Notice shall set forth the following information in respect of the proposed Transfer: 

  

	 	(i)	the name and address of the prospective acquiror (the “Proposed Transferee”); 

  

	 	(ii)	the Assets subject to the Acquisition Proposal (the “Sale Assets”); 

  

	 	(iii)	the purchase price offered by such Proposed Transferee (the “Offer Price”); 

  

	 	(iv)	reasonable detail concerning any non-cash portion of the proposed consideration, if any, to allow HFC to reasonably determine the fair market value of such non-cash consideration; 

 

	 	(v)	the HEP Entities’ estimate of the fair market value of any non-cash consideration; and 

  

	 	(vi)	all other material terms and conditions of the Acquisition Proposal that are then known to the HEP Entities. 

  

	 	(b)	To the extent the Acquisition Proposal consists of consideration other than cash (or in addition to cash) the Offer Price shall be deemed equal to the amount of any such cash plus the fair market value of such non-cash
consideration. In the event HFC and the HEP Entities agree as to the fair market value of any non-cash consideration, HFC will provide written notice of its decision regarding the exercise of its right of first refusal to purchase the Sale Assets
within 30 days of its receipt of the Disposition Notice (the “First ROFR Acceptance Deadline”). Failure to provide such notice within such 30-day period shall be deemed to constitute a decision not to purchase the Sale Assets.

  
 14 

	 	(c)	In the event (i) HFC’s determination of the fair market value of any non-cash consideration described in the Disposition Notice (to be determined by HFC within 30 days of receipt of such Disposition Notice) is
less than the fair market value of such consideration as determined by the HEP Entities in the Disposition Notice and (ii) HFC and the HEP Entities are unable to mutually agree upon the fair market value of such non-cash consideration within 30
days after HFC notifies the HEP Entities of its determination thereof, the HEP Entities and HFC shall engage a mutually-agreed-upon investment banking firm to determine the fair market value of the non-cash consideration. Such investment banking
firm shall be instructed to return its decision within 30 days after all material information is submitted thereto, which decision shall be final. The fees of the investment banking firm will be split equally between HFC and the HEP Entities. HFC
will provide written notice of its decision regarding the exercise of its right of first refusal to purchase the Sale Assets to the HEP Entities within 30 days after the investment banking firm has submitted its determination (the “Second
ROFR Acceptance Deadline”). Failure to provide such notice within such 30-day period shall be deemed to constitute a decision by HFC not to purchase the Sale Assets. 

 

	 	(d)	If HFC fails to exercise a right during any applicable period set forth in this Section 5.2, HFC shall be deemed to have waived its rights with respect to such proposed disposition of the Sale Assets, but
not with respect to any future offer of such Sale Assets. 

  

	 	(e)	If HFC chooses to exercise its right of first refusal to purchase the Sale Assets under Sections 5.1(a) and 5.2(c), HFC and the HEP Entities shall enter into a purchase and sale agreement for the Sale
Assets which shall include the following terms: 

  

	 	(i)	HFC will agree to deliver cash for the Offer Price (or any other consideration agreed to by HFC and the HEP Entities (each in their sole discretion)); 

 

	 	(ii)	the HEP Entities will represent that they have good, indefeasible and unencumbered title to the Sale Assets, subject to all recorded and unrecorded matters and all physical conditions and other matters in existence on
the closing date for the Sale Assets, plus any other reasonable and customary matters and such matters as HFC may approve, which approval will not be unreasonably withheld. If HFC desires to obtain any title insurance with respect to the Sale
Assets, the full cost and expense of obtaining the same (including the cost of title examination, document duplication and policy premium) shall be borne by HFC; 

  

	 	(iii)	the HEP Entities will grant to HFC the right, exercisable at HFC’s risk and expense, to conduct such surveys, tests and inspections of the Sale Assets as HFC may deem desirable, so long as such surveys, tests or
inspections do not damage the Sale Assets or interfere with the activities of the HEP Entities thereon and so long as HFC has furnished the HEP Entities with evidence that adequate liability insurance is in full force and effect; 

  
 15 

	 	(iv)	HFC will have the right to terminate its obligation to purchase the Sale Assets under this Article V if the results of any searches, surveys, tests or inspections conducted pursuant to
Section 5.2(e)(ii) or Section 5.2(e)(iii) above are, in the reasonable opinion of HFC, unsatisfactory; 

  

	 	(v)	the closing date for the purchase of the Sale Assets shall, unless otherwise agreed to by HFC and the HEP Entities, occur no later than 90 days following receipt by the HEP Entities of written notice by HFC of its
intention to exercise its option to purchase the Sale Assets pursuant to Section 5.2(b) or (c); 

  

	 	(vi)	the HEP Entities shall execute, have acknowledged and deliver to HFC a special warranty deed, assignment of easement, or comparable document, as appropriate, in the applicable jurisdiction, on the closing date for the
purchase of the Sale Assets constituting real property interests conveying the Sale Assets unto HFC free and clear of all encumbrances created by the HEP Entities other than those set forth in Section 5.2(e)(ii) above; 

 

	 	(vii)	the sale of any Sale Assets shall be made on an “as is,” “where is” and “with all faults” basis, and the instruments conveying such Sale Assets shall contain appropriate disclaimers; and

  

	 	(viii)	neither the HEP Entities nor HFC shall have any obligation to sell or buy the Sale Assets if any of the material consents referred to in Section 5.1(c) have not been obtained or such sale or purchase is
prohibited by Applicable Law. 

  

	 	(f)	HFC and the HEP Entities shall cooperate in good faith in obtaining all necessary governmental and other Third Party approvals, waivers and consents required for the closing. Any such closing shall be delayed, to the
extent required, until the third Business Day following the expiration of any required waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended; provided, however, that such delay shall not exceed 120 days and, if
governmental approvals and waiting periods shall not have been obtained or expired, as the case may be, by such 120th day, then HFC shall be deemed to have waived its right of first refusal with respect to the Sale Assets described in the
Disposition Notice and thereafter neither HFC nor HEP shall have any further obligation under this Article V with respect to such Sale Assets unless such Sale Assets again become subject to this Article V pursuant to
Section 5.2(g). 

  

	 	(g)	If the Transfer to the Proposed Transferee is not consummated in accordance with the terms of the Acquisition Proposal within the later of (i) 180 days after the later of the applicable ROFR Acceptance Deadline,
and (ii) 10 days after the satisfaction of all governmental approval or filing requirements, if any, the Acquisition Proposal shall be deemed to lapse, and the HEP Entities may not Transfer any of the Sale Assets described in the Disposition
Notice without complying again with the provisions of this Article V if and to the extent then applicable. 

  
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 ARTICLE VI 

HFC PURCHASE OPTION 
 6.1
Option to Purchase Tulsa Transferred Assets. The Parties acknowledge the purchase options and right of first refusal granted to an Affiliate of HFC with respect to the Tulsa Transferred Assets in the Purchase Option Agreement. 

ARTICLE VII 
 API
INSPECTIONS 
 7.1 API Inspections. With respect only to the 2008 Tanks, the applicable HFC Entity that sold the particular
tank(s) to the applicable HEP Entity shall, during the period that commences on the applicable Closing Date and ends five (5) years thereafter (the “Initial Tank Inspection Period”) reimburse the applicable HEP Entity for the
actual costs associated with the first regularly scheduled API 653 inspection (the “Initial Tank Inspections”) and the costs associated with the replacement of the tank mixers on each of the Transferred Tanks after the Closing Date
and any repairs required to be made to the 2008 Tanks as a result of any discovery made during the Initial Tank Inspections; provided, however, that 
  

	 	(a)	such HFC Entity shall not reimburse such HEP Entity with respect to the relocated crude oil Tank 437 in the Artesia refinery complex or the new crude oil tank to replace crude oil Tank 439 in the Artesia refinery
complex more particularly described in the Purchase and Sale Agreement referenced in the definition of 2008 Crude Pipelines, Tanks and Related Assets, and 

  

	 	(b)	upon expiration of the Initial Tank Inspection Period, all of the obligations of the applicable HFC Entity pursuant to this Article VII shall terminate, except that the Initial Tank Inspection Period shall be
extended if, and only to the extent that 

  

	 	(i)	inaccessibility of the 2008 Tanks during the Initial Tank Inspection Period caused the delay of an Initial Tank Inspection originally scheduled to be performed during the Initial Tank Inspection Period, and

  

	 	(ii)	the applicable HFC Entity received notice from the applicable HEP Entity regarding such delay at the time it occurred. 

ARTICLE VIII 
 DISPUTE
RESOLUTION 
 8.1 Dispute Resolution. 
  

	 	(a)	Any Arbitrable Dispute arising out of or in connection with this Agreement, including any question regarding the existence, validity or termination of this Agreement, shall be exclusively resolved in accordance with
this Article VIII. 

  

	 	(b)	In the event of a Arbitrable Dispute between an HFC Entity and an HEP Entity, the HFC Entity and the HEP Entity shall, within ten (10) days of a written request by either of them to the other, meet in good faith to
resolve such Arbitrable Dispute in a meeting that includes individuals with authority to resolve the Arbitrable Dispute at such meeting. 

  
 17 

	 	(c)	If the HFC Entity and the HEP Entity are unable to resolve the Arbitrable Dispute within ten (10) days after submission of such Arbitrable Dispute as provided in Section 8.1(b), either the HFC Entity or the
HEP Entity may submit the matter to arbitration in accordance with the terms of Section 8.2 below. 

  

	 	(d)	Pending resolution of any Arbitrable Dispute between the HFC Entity and the HEP Entity, the HFC Entity and the HEP Entity shall continue to perform in good faith their respective obligations under this Agreement based
upon the last agreed performance demonstrated prior to the Arbitrable Dispute. 

  

	 	(e)	Resolution of any Arbitrable Dispute between the HFC Entity and the HEP Entity involving payment of money by either the HFC Entity and the HEP Entity to the other shall include payment of interest at the Prime Rate from
the original due date of such amount. 

  

	 	(f)	Each of the HFC Entity and the HEP Entity shall, in addition to all rights provided herein or provided by Law, be entitled to the remedies of specific performance and injunction to enforce its rights hereunder.

 8.2 Arbitration. Any and all Arbitrable Disputes must be resolved through the use of binding arbitration using three
arbitrators, in accordance with the Commercial Arbitration Rules of the American Arbitration Association, as supplemented to the extent necessary to determine any procedural appeal questions by the Federal Arbitration Act (Title 9 of the United
States Code, as amended from time to time). 
  

	 	(a)	Arbitration must be initiated within the time limits set forth in this Agreement, or if no such limits apply, then within the time period allowed by the applicable statute of limitations. Arbitration may be initiated by
either party (“Claimant”) by delivering written notice to the other (“Respondent”) that the Claimant elects to refer the Arbitrable Dispute to binding arbitration. Claimant’s notice initiating binding
arbitration must identify the arbitrator Claimant has appointed. The Respondent shall respond to Claimant within thirty (30) days after receipt of Claimant’s notice, identifying the arbitrator Respondent has appointed. If the Respondent
fails for any reason to name an arbitrator within the 30-day period, Claimant shall petition the American Arbitration Association for appointment of an arbitrator for Respondent’s account. The two arbitrators so chosen shall select a third
arbitrator within thirty (30) days after the second arbitrator has been appointed. 

  

	 	(b)	The hearing will be conducted in Dallas, Texas and commence within thirty (30) days after the selection of the third arbitrator. The parties and the arbitrators shall proceed diligently and in good faith in order
that the award may be made as promptly as possible. Except as provided in the Federal Arbitration Act, the decision of the arbitrators will be binding on, and non-appealable by, the Claimant and Respondent. 

 

	 	(c)	The Claimant will pay the compensation and expenses of the arbitrator named by it, and the Respondent will pay the compensation and expenses of the arbitrator named by or for it. The Claimant and Respondent will each
pay one-half of the compensation and expenses of the third arbitrator. 

  
 18 

	 	(d)	All arbitrators must (i) be neutral parties who have never been officers, directors or employees of any of the Parties or any of their Affiliates and who have not provided consulting services (directly or
indirectly) for at least three (3) years prior to their appointment and (ii) have at least seven (7) years’ experience in the petroleum transportation industry. 

 

	 	(e)	The arbitrators shall have no right to grant or award indirect, consequential, punitive or exemplary damages of any kind. 

  

	 	(f)	The Arbitrable Disputes may be arbitrated in a common proceeding along with disputes under other agreements between the Claimant and Respondent to the extent that the issues raised in such disputes are related. Without
the written consent of the Claimant and Respondent, no unrelated disputes (including those with Affiliates of either Claimant or Respondent) or Third Party disputes may be joined to an arbitration pursuant to this Agreement. 

8.3 Conflict. If there is any inconsistency between this Article VIII and the Commercial Arbitration Rules or the Federal
Arbitration Act, the terms of this Article VIII will control the rights and obligations of the parties seeking arbitration. 

ARTICLE IX 
 FORCE
MAJEURE 
 9.1 Force Majeure. In the event of any Party being rendered unable, wholly or in part, by a Force Majeure event from
performing its obligations under any of the Master Agreements, Services and Secondment Agreement or this Agreement for a period of more than thirty (30) consecutive days, then, upon the delivery of notice and full particulars of the Force
Majeure event relied on (“Force Majeure Notice”) to the other affected Party(ies), the obligations of the Parties, so far are they are affected by the Force Majeure event, shall be suspended during the continuance of any inability
so caused. The cause of the Force Majeure event shall, as far as possible, be remedied with all reasonable dispatch, except that no Party shall be compelled to resolve any strikes, lockouts or other industrial disputes other than as it shall
determine to be in its best interests. 
 ARTICLE X 

MISCELLANEOUS 
 10.1
Choice of Law. This Agreement shall be subject to and governed by the laws of the State of Delaware, excluding any conflicts-of-law rule or principle that might refer the construction or interpretation of this Agreement to the laws of another
state. 

  
 19 

 10.2 Notices. 
  

	 	(a)	Any notice or other communication given under this Agreement shall be in writing and shall be (i) delivered personally, (ii) sent by documented overnight delivery service, (iii) sent by email
transmission, or (iv) sent by first class mail, postage prepaid (certified or registered mail, return receipt requested). Such notice shall be deemed to have been duly given (x) if received, on the date of the delivery, with a receipt for
delivery, (y) if refused, on the date of the refused delivery, with a receipt for refusal, or (z) with respect to email transmissions, on the date the recipient confirms receipt. Notices or other communications shall be directed to
the following addresses: 

 Notices to the HFC Entities: 

HollyFrontier Corporation 

2828 N. Harwood, Suite 1300 

Dallas, Texas 75201 
 Attention:
President 
 Email address: president@hollyfrontier.com 

with a copy, which shall not constitute notice, but is required in order to give proper notice, to: 

HollyFrontier Corporation 

2828 N. Harwood, Suite 1300 

Dallas, Texas 75201 
 Attention:
General Counsel 
 Email address: general.counsel@hollyfrontier.com 

Notices to the HEP Entities: 

Holly Energy Partners, L.P. 

c/o Holly Logistic Services, L.L.C. 

2828 N. Harwood, Suite 1300 

Dallas, Texas 75201 
 Attention:
President 
 Email address: president-HEP@hollyenergy.com 

with a copy, which shall not constitute notice, but is required in order to give proper notice, to: 

Holly Energy Partners, L.P. 

c/o Holly Logistic Services, L.L.C. 

2828 N. Harwood, Suite 1300 

Dallas, Texas 75201 
 Attention:
General Counsel 
 Email address: general.counsel@hollyenergy.com 

 

	 	(b)	Any Party may at any time change its address for service from time to time by giving notice to the other Parties in accordance with this Section 10.2. 

10.3 Entire Agreement. This Agreement, together with the other agreements and instruments referred to herein, constitutes the entire
agreement of the Parties relating to the matters contained herein, superseding as of the Effective Date all prior contracts or agreements (including the Original Omnibus Agreement), whether oral or written, relating to the matters contained herein.
For avoidance of doubt the Eleventh Amended and Restated Omnibus Agreement, effective as of January 1, 2015, shall remain in full force and effect with respect to any event, act or omission occurring before January 1, 2015. 

10.4 Amendment or Modification. No amendment or modification of this Agreement shall be valid unless it is in writing and signed by the
parties hereto. No waiver of any provision of this Agreement shall be valid unless it is in writing and signed by the Party against whom the waiver is sought to be enforced. Any of the exhibits to this Agreement may be amended, modified,
revised or updated by the Parties hereto if each of HFC (on behalf of the HFC Entities) and HEP (on behalf of the HEP Entities) 

  
 20 

 
execute an amended, modified, revised or updated exhibit or schedule, as applicable, and attach it to this Agreement. Such amended, modified, revised or updated exhibits shall be sequentially
numbered (e.g. Exhibit A-1, Exhibit A-2, etc.), dated and appended as an additional exhibit or schedule to this Agreement and shall replace the prior
exhibit or schedule, as applicable, in its entirety, except as specified therein. No failure or delay in exercising any right hereunder, and no course of conduct, shall operate as a waiver of any provision of this Agreement. No single or partial
exercise of a right hereunder shall preclude further or complete exercise of that right or any other right hereunder. 
 10.5
Assignment. No Party shall have the right to assign any of its rights or obligations under this Agreement without the consent of the other Parties hereto. 

10.6 Counterparts. This Agreement may be executed in any number of paper or electronic counterparts with the same effect as if all
signatory parties had signed the same document. All such counterparts shall be construed together and shall constitute one and the same agreement. 

10.7 Severability. If any provision of this Agreement shall be held invalid or unenforceable by a court or regulatory body of competent
jurisdiction, the remainder of this Agreement shall remain in full force and effect. 
 10.8 Further Assurances. In connection with
this Agreement and all transactions contemplated by this Agreement, each Party hereto agrees to execute and deliver such additional documents and instruments and to perform such additional acts as may be necessary or appropriate to effectuate, carry
out and perform all of the terms, provisions and conditions of this Agreement and all such transactions. 
 10.9 Rights of Limited
Partners. The provisions of this Agreement are enforceable solely by the Parties to this Agreement, and no Limited Partner (as defined in the Partnership Agreement) of HEP shall have the right, separate and apart from HEP, to enforce any
provision of this Agreement or to compel any Party to this Agreement to comply with the terms of this Agreement. There are no Third Party beneficiaries to this Agreement. 

10.10 Headings. Headings of the Sections of this Agreement are for convenience of the parties only and shall be given no substantive or
interpretative effect whatsoever. 
 10.11 Limitation of Damages. NOTWITHSTANDING ANYTHING
TO THE CONTRARY CONTAINED IN ANY OTHER PROVISION OF THIS AGREEMENT
AND EXCEPT FOR CLAIMS MADE BY THIRD PARTIES WHICH SHALL NOT BE
LIMITED BY THIS SECTION, THE PARTIES AGREE THAT THE RECOVERY BY ANY
PARTY, INCLUDING, PURSUANT TO ARTICLE III, OF ANY LIABILITIES, DAMAGES, COSTS
OR OTHER EXPENSES (i) AS A RESULT OF ANY BREACH OR
NONFULFILLMENT BY A PARTY OF ANY OF ITS COVENANTS, AGREEMENTS OR
OTHER OBLIGATIONS UNDER THIS AGREEMENT OR (ii) BY REASON OF OR
ARISING OUT OF ANY OF THE EVENTS, CONDITIONS OR OTHER MATTERS LISTED
IN SECTIONS 3.2 OR 3.4 WHICH THE PARTIES HAVE AGREED TO INDEMNIFY THE
OTHER PARTY AGAINST, SHALL BE LIMITED TO ACTUAL DAMAGES AND SHALL NOT
INCLUDE OR APPLY TO, NOR SHALL ANY PARTY BE ENTITLED TO RECOVER,
ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES (INCLUDING, ANY DAMAGES
ON ACCOUNT OF LOST PROFITS OR OPPORTUNITIES OR BUSINESS INTERRUPTION OR
DIMINUTION IN VALUE) SUFFERED OR INCURRED BY ANY PARTY; PROVIDED, HOWEVER,
THAT SUCH RESTRICTION AND LIMITATION SHALL NOT APPLY TO A
PARTY’S OBLIGATION TO INDEMNIFY THE OTHER PARTY: 

(X) AS A RESULT OF A THIRD
PARTY CLAIM FOR SUCH INDIRECT, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES, 

  
 21 

 (Y) FOR CLAIMS THAT
ARE COVERED BY INSURANCE AND ANY RELATED DEDUCTIBLES, OR 

(Z) FOR INDIRECT, CONSEQUENTIAL, EXEMPLARY OR
PUNITIVE DAMAGES (INCLUDING LIABILITIES ON ACCOUNT OF LOST PROFITS OR OPPORTUNITIES
OR BUSINESS INTERRUPTION OR DIMINUTION IN VALUE) THAT ARE A RESULT OF
SUCH INDEMNIFYING PARTY’S OR ITS AFFILIATES’ GROSS NEGLIGENCE OR WILLFUL
MISCONDUCT. 
 As used in this Section 10.11, “Affiliates” of the Indemnifying Party shall not include the HEP
Group Members when a HFC Entity is the Indemnifying Party and shall not include the HFC Group Members when the Indemnifying Party is a HEP Entity. 

10.12 Nature of the Relationship. Notwithstanding the foregoing, nothing in this Agreement and no actions taken by the
Parties shall constitute a partnership, joint venture, association or other co-operative entity among the Parties or authorize either Party to represent or contract on behalf of the other Party.  

[Remainder of Page Intentionally Left Blank] 

  
 22 

 IN WITNESS WHEREOF, the Parties have executed this Agreement to be effective as of the Effective
Date. 
  

					
	HFC ENTITIES:
	
	HOLLYFRONTIER CORPORATION
	EL DORADO LOGISTICS LLC
	HOLLYFRONTIER EL DORADO REFINING LLC
	HOLLYFRONTIER CHEYENNE REFINING LLC
	HOLLYFRONTIER WOODS CROSS REFINING LLC
	HOLLYFRONTIER TULSA REFINING LLC
	NAVAJO PIPELINE CO., L.P.
	HOLLYFRONTIER NAVAJO REFINING LLC
	FRONTIER PIPELINE LLC
		
	By:	 	 /s/ George J. Damiris

	Name:	 	George J. Damiris
	Title:	 	Chief Executive Officer and President
	
	HEP ENTITIES:
	
	HOLLY ENERGY PARTNERS, L.P.
		
	By:	 	HEP Logistics Holdings, L.P.
		 	Its General Partner
			
		 	By:	 	Holly Logistic Services, L.L.C.
		 		 	Its General Partner
			
		 	By:	 	 /s/ Michael C. Jennings

		 	Name:	 	Michael C. Jennings
		 	Title:	 	Chief Executive Officer

 [Signature Page 1 of 3 to Sixteenth Amended and Restated Omnibus Agreement] 

					
	CHEYENNE LOGISTICS LLC
	HEP LOGISTICS GP, L.L.C.
	HEP TULSA LLC
	EL DORADO LOGISTICS LLC
	EL DORADO OPERATING LLC
	HEP UNEV HOLDINGS LLC
	HEP UNEV PIPELINE LLC
	HOLLY ENERGY STORAGE – LOVINGTON LLC
	HOLLY ENERGY PARTNERS – OPERATING, L.P.
	HOLLY LOGISTIC SERVICES, L.L.C.
	ROADRUNNER PIPELINE, L.L.C.
	HEP EL DORADO LLC
	EL DORADO OSAGE LLC
	WOODS CROSS OPERATING LLC
		
	By:	 	 /s/ Michael C. Jennings

	Name:	 	Michael C. Jennings
	Title:	 	Chief Executive Officer
	
	HEP LOGISTICS HOLDINGS, L.P.
		
	By:	 	Holly Logistic Services, L.L.C,
		 	Its General Partner
		
	By:	 	 /s/ Michael C. Jennings

		 	Name:	 	Michael C. Jennings
		 	Title:	 	Chief Executive Officer
	
	HEP MOUNTAIN HOME, L.L.C.
	HEP PIPELINE GP, L.L.C.
	HEP PIPELINE, L.L.C.
	HEP REFINING GP, L.L.C.
	HEP REFINING, L.L.C.
	HEP WOODS CROSS, L.L.C.
	LOVINGTON-ARTESIA, L.L.C.
		
	By:	 	HOLLY ENERGY PARTNERS – OPERATING, L.P.
		 	Sole Member
			
		 	By:	 	 /s/ Michael C. Jennings

		 	Name:	 	Michael C. Jennings
		 	Title:	 	Chief Executive Officer

 [Signature Page 2 of 3 to Sixteenth Amended and Restated Omnibus Agreement] 

					
	HEP NAVAJO SOUTHERN, L.P.
	HEP PIPELINE ASSETS, LIMITED PARTNERSHIP
		
	By:	 	HEP Pipeline GP, L.L.C.
		 	Its General Partner
			
		 	By:	 	 /s/ Michael C. Jennings

		 	Name:	 	Michael C. Jennings
		 	Title:	 	Chief Executive Officer
	
	HEP REFINING ASSETS, L.P.
		
	By:	 	HEP Refining GP, L.L.C.
		 	Its General Partner
			
		 	By:	 	 /s/ Michael C. Jennings

		 	Name:	 	Michael C. Jennings
		 	Title:	 	Chief Executive Officer

 [Signature Page 3 of 3 to Sixteenth Amended and Restated Omnibus Agreement] 

  
 25 

 Exhibit A 

to 
 Sixteenth Amended and
Restated Omnibus Agreement 
  
  

Omnibus Agreement Amendments 
  

					
	Agreement	  	Effective Date	  	Reason for Amendment
	Original Omnibus Agreement	  	July 13, 2004	  	n/a
	First Amended and Restated Omnibus Agreement	  	June 1, 2009	  	16” Lovington/Artesia Intermediate Pipeline Purchase Agreement
	Second Amended and Restated Omnibus Agreement	  	August 1, 2009	  	Tulsa West (Sunoco) Asset Purchase Agreement
	Third Amended and Restated Omnibus Agreement	  	October 19, 2009	  	 (i) Tulsa East (Sinclair) Purchase Agreement

(ii) Beeson Pipeline Purchase Agreement, and
 (iii) Roadrunner
Pipeline Purchase Agreement

	Fourth Amended and Restated Omnibus Agreement	  	March 31, 2010	  	LLC Interest Purchase Agreement for certain Tulsa East Assets
	Fifth Amended and Restated Omnibus Agreement	  	August 31, 2011	  	Tulsa Throughput Agreement
	Sixth Amended and Restated Omnibus Agreement	  	November 1, 2011	  	LLC Interest Purchase Agreement for Cheyenne Assets and El Dorado Assets
	Seventh Amended and Restated Omnibus Agreement	  	July 12, 2012	  	UNEV LLC Interest Purchase Agreement
	Eighth Amended and Restated Omnibus Agreement	  	June 1, 2013	  	Malaga Throughput Agreement
	Ninth Amended and Restated Omnibus Agreement	  	January 7, 2014	  	Amended and Restated El Dorado Throughput Agreement for the El Dorado New Tank No. 647
	Tenth Amended and Restated Omnibus Agreement	  	September 26, 2014	  	Amended and Restated Malaga Throughput Agreement
	Eleventh Amended and Restated Omnibus Agreement	  	January 1, 2015	  	Unloading and Blending Services Agreement (Artesia) and Third Amended and Restated Crude Pipelines and Tankage Agreement (Beeson to Lovington
System Expansion)
	Twelfth Amended and Restated Omnibus Agreement	  	January 1, 2015	  	Artesia Railyard Facility, El Dorado Terminal and Cheyenne New Tank No. 117
	Thirteenth Amended and Restated Omnibus Agreement	  	November 2, 2015	  	LLC Interest Purchase Agreement for certain El Dorado Refinery Assets
	Fourteenth Amended and Restated Omnibus Agreement	  	February 22, 2016	  	LLC Interest Purchase Agreement for Osage Membership Interest
	Fifteenth Amended and Restated Omnibus Agreement	  	March 31, 2016	  	Tulsa West Crude Tank Assets and Tulsa New Tanks

  
 A-1 

 Exhibit B 

to 
 Sixteenth Amended and
Restated Omnibus Agreement 
  
  

Definitions 

“8” and 10” Lovington/Artesia Intermediate Pipelines” means the 8-inch pipeline and the 10-inch pipeline,
each running from Lovington, New Mexico to Artesia, New Mexico and owned by HEP Pipeline. 
 “16”
Lovington/Artesia Intermediate Pipeline” means the 16-inch pipeline running from Lovington, New Mexico to Artesia, New Mexico, owned by Lovington-Artesia, L.L.C. 

“16” Lovington/Artesia Intermediate Pipeline Purchase Agreement” means that certain LLC Interest Purchase
Agreement dated as of June 1, 2009, by and among HFC, Navajo Pipeline and the Operating Partnership, pursuant to which Navajo Pipeline transferred and conveyed to the Operating Partnership, and the Operating Partnership acquired, all of the
limited liability company interests of Lovington-Artesia, L.L.C., the entity that owns the 16” Lovington/Artesia Intermediate Pipeline. 

“2004 Product Pipelines, Terminal and Related Assets” means the assets transferred under the July 13, 2004
Contribution, Conveyance and Assumption Agreement at the time of HEP’s initial public offering. 
 “2008 Crude Pipelines,
Tanks and Related Assets” means the Drop-Down Assets as defined in the Purchase and Sale Agreement, dated February 25, 2008, by and among HFC, Navajo Pipeline, Woods Cross Refining Company, L.L.C., a Delaware limited liability
company, and HollyFrontier Navajo, as the seller parties, and HEP, the Operating Partnership, HEP Woods Cross, L.L.C., a Delaware limited liability company, and HEP Pipeline, as the buyer parties. 

“2008 Tanks” means the Transferred Tanks included in the 2008 Crude Pipelines, Tanks and Related Assets. 

“Acquisition Proposal” is defined in Section 5.2(a). 

“Additional Lovington Assets” means the Transferred Lovington Assets as defined in the March 2010 Drop Down LLC
Interest Purchase Agreement. 
 “Additional Tulsa East Assets” means the Transferred Tulsa East Assets as defined in
the March 2010 Drop Down LLC Interest Purchase Agreement. 
 “Administrative Fee” is defined in
Section 4.1(a). 
 “Affiliate” means, with respect to any Person, any other Person that directly or
indirectly through one or more intermediaries controls, is controlled by or is under common control with, the Person in question. As used herein, the term “control” means the possession, direct or indirect, of the power to direct or cause
the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 

“Agreement” is defined in the introduction to this Agreement. 

  
 B-1 

 “Applicable Law” means any applicable statute, law, regulation,
ordinance, rule, judgment, rule of law, order, decree, permit, approval, concession, grant, franchise, license, agreement, requirement, or other governmental restriction or any similar form of decision of, or any provision or condition of any
permit, license or other operating authorization issued under any of the foregoing by, or any determination by any Governmental Authority having or asserting jurisdiction over the matter or matters in question, whether now or hereafter in effect and
in each case as amended (including, all of the terms and provisions of the common law of such Governmental Authority), as interpreted and enforced at the time in question. 

“Arbitrable Dispute” means any and all disputes, Claims, controversies and other matters in question between any of
the HEP Entities, on the one hand, and any of the HFC Entities, on the other hand, arising out of or relating to this Agreement, the Master Agreements, or the Services and Secondment Agreement, or the alleged breach hereof and thereof, or in any way
relating to the subject matter of this Agreement, the Master Agreements, or the Services and Secondment Agreement, regardless of whether (a) allegedly extra-contractual in nature, (b) sounding in contract, tort or otherwise,
(c) provided for by Applicable Law or otherwise or (d) seeking damages or any other relief, whether at law, in equity or otherwise. 

“Artesia Blending Facility” means the two tanks and related equipment for the unloading and blending of ethanol and
biodiesel at the refined product truck rack located at the refinery owned by HollyFrontier Navajo in Artesia, New Mexico. 

“Artesia Rail Yard Facility” means (a) the railroad track siding consisting of approximately 8,300 track feet of
siding (rail storage) and two mainline switches and three industry switches located on certain land leased by HFRM from the Operating Partnership pursuant to that certain Track Lease Agreement effective as of November 1, 2014 by and between HEP
Refining and HFRM, pursuant to which HEP Refining agreed to lease to HFRM, and HFRM agreed to lease from HEP Refining, the Artesia Rail Yard Facility, and (b) HEP Refining’s leasehold interest, as tenant, under the BNSF Lease, and
(c) HEP Refining’s leasehold interest, as landlord, under that certain Sublease Agreement effective as of November 1, 2014 by and between HEP Refining and HFRM, pursuant to which HEP Refining agreed to sublease to HFRM, and HFRM
agreed to sublease from HEP Refining, the BNSF Land. 
 “Assets” means the Transferred Assets and the Other Assets,
collectively. 
 “Beeson Pipeline” means the 8” crude oil pipeline extending from Beeson station to Lovington,
New Mexico, owned by HEP Pipeline. 
 “Beeson Pipeline Purchase Agreement” means that certain Asset Purchase
Agreement dated as of December 1, 2009, by and among HFC, Navajo Pipeline and HEP Pipeline, pursuant to which Navajo Pipeline agreed to transfer and convey to HEP Pipeline, and HEP Pipeline agreed to acquire, the Beeson Pipeline. 

“Beeson to Lovington System Expansion” means the following project undertaken by HEP Pipeline: the installation of a
larger pump at the Beeson station and the replacement of five miles of existing 8-inch pipeline with 10-inch pipeline beginning at the Beeson station end of the Beeson Pipeline. 

“BNSF Land” means the land located in Eddy County, New Mexico leased to HEP Refining pursuant to the BNSF Lease. 

  
 B-2 

 “BNSF Lease” means that certain Lease of Land Including New Track
Construction dated to be effective as of February 14, 2014, pursuant to which HEP Reining agreed to lease from BNSF Railway Company the BNSF Land. 

“Business Day” means any day other than Saturday, Sunday or other day upon which
commercial banks in Dallas, Texas are authorized by law to close. 
 “Change of Control” means, with respect to any
Person (the “Applicable Person”), any of the following events: 
 (a) any sale, lease, exchange, or other
transfer (in one transaction or a series of related transactions) of all or substantially all of the Applicable Person’s assets to any other Person unless immediately following such sale, lease, exchange, or other transfer such assets are
owned, directly or indirectly, by the Applicable Person; 
 (b) the consolidation or merger of the Applicable Person with or
into another Person pursuant to a transaction in which the outstanding Voting Securities of the Applicable Person are changed into or exchanged for cash, securities, or other property, other than any such transaction where 

(i) the outstanding Voting Securities of the Applicable Person are changed into or exchanged for Voting Securities of a
surviving Person or its parent and 
 (ii) the holders of the Voting Securities of the Applicable Person immediately prior to
such transaction own, directly or indirectly, not less than a majority of the Voting Securities of the surviving Person or its parent immediately after such transaction; and 

(c) a “person” or “group” (within the meaning of Sections 13(d) or 14(d)(2) of the Securities
Exchange Act of 1934, as amended) (in the case of HFC, other than a group consisting of some of all of the current control persons of HFC), being or becoming the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities
Exchange Act of 1934, as amended) of more than 50% of all of the then outstanding Voting Securities of the Applicable Person, except in a merger or consolidation that would not constitute a Change of Control under clause (b) above. 

“Cheyenne Assets” is defined in the November 2011 Frontier Drop Down LLC Interest Purchase Agreement. 

“Cheyenne Logistics” is defined in the introduction to this Agreement. 

“Cheyenne New Tank” means petroleum storage tank no. 117 located at the Cheyenne Refinery Complex. 

“Claim” means any existing or threatened future claim, demand, suit, judgment, settlement, action, investigation,
proceeding, governmental action, cause of action, claims, demands, causes of action, suits, judgments, settlements, fines, penalties, costs, and expenses (including court costs and reasonable attorneys’ and experts’ fees) of any kind or
character (in each case, whether civil, criminal, investigative or administrative), known or unknown, under any theory, including those based on theories of contract, tort, statutory liability, strict liability, employer liability, premises
liability, products liability, breach of warranty or malpractice of any and every kind or character, known or unknown, fixed, contingent or suffered. 

  
 B-3 

 “Claimant” is defined in Section 8.2(a). 

“Closing Date” means 

(a) for all sections other than Articles III and VII, July 13, 2004, the date of the closing of HEP’s
initial public offering, and 
 (b) for purposes of Articles III and VII, Closing Date means, with respect to a
group of assets, the effective date of the purchase of such assets or the stock, partnership interests or membership interests of the entity that directly or indirectly owns such assets, by a HEP Entity (such Closing Date being shown in Exhibit
D, column (a)). 
 “Contribution Agreement” means that certain Contribution, Conveyance and Assumption
Agreement, dated as of July 13, 2004, among HFC, Navajo Pipeline, the General Partner, HEP, the OLP GP, the Operating Partnership and certain other parties, together with the additional conveyance documents and instruments contemplated or
referenced thereunder. 
 “control” means the possession, directly or indirectly, of the power to direct or cause
the direction of the management and policies of a Person, whether through ownership of voting securities, by contract, or otherwise. 

“Covered Environmental Losses” means Environmental Claims to the extent arising from: 

 

	 	(a)	any violation or correction of violation of Environmental Laws associated with the ownership or operation of the Assets, or 

  

	 	(b)	any event or condition associated with ownership or operation of the Assets (including, the presence of Hazardous Substances on, under, about or migrating from the Assets or the disposal or release of Hazardous
Substances generated by operation of the Assets at any non-Asset locations), including: 

  

	 	(i)	the cost and expense of any investigation, assessment, evaluation, monitoring, containment, cleanup, repair, restoration, remediation, or other corrective action required or necessary under Environmental Laws;

  

	 	(ii)	the cost or expense of the preparation and implementation of any closure, remedial, corrective action, or other plans required or necessary under Environmental Laws; and 

 

	 	(iii)	the cost and expense for any environmental or Toxic Tort pre-trial, trial, or appellate legal or litigation support work. 

“Disposition Notice” is defined in Section 5.2(a). 

“Effective Date” is defined in the introduction to this Agreement. 

“El Dorado Assets” is defined in the November 2011 Frontier Drop Down LLC Interest Purchase Agreement. 

  
 B-4 

 “El Dorado Logistics” is defined in the introduction to this Agreement.

 “El Dorado New Tank” means petroleum products storage tanks no. 647 and no. 651 located at the El Dorado Refinery
Complex. 
 “El Dorado Operating” is defined in the introduction to this Agreement. 

“El Dorado Osage” is defined in the introduction to this Agreement. 

“El Dorado Refinery Assets” means “Assets” as defined in that certain LLC Interest Purchase Agreement dated
as of October 30, 2015 and effective as of November 1, 2015 by and among HollyFrontier El Dorado, HFC and the Operating Partnership, pursuant to which HollyFrontier El Dorado agreed sell to the Operating Partnership all of the issued and
outstanding limited liability company interests in El Dorado Operating. 
 “El Dorado Terminal” means that certain
petroleum products tank farm located in El Dorado Kansas, and more particularly described in that certain Membership Interest Purchase Agreement dated as of March 6, 2015 by and between El Dorado Logistics and Rimrock Midstream, LLC, as such
terminal may be modified, expanded or upgraded from time to time. 
 “El Paso Logistics” is defined in the
introduction to this Agreement. 
 “El Paso Hawkins Terminal” means the El Paso Hawkins Terminal as defined in that
certain Refined Products Terminal Transfer Agreement effective as of February 22, 2016 between HEP Refining Assets and El Paso Logistics, pursuant to which El Paso Logistics acquired the El Paso Hawkins Terminal. 

“Environmental Claims” means environmental and Toxic Tort Liabilities and Claims of any and every kind or character,
known or unknown, fixed or contingent. 
 “Environmental Costs” means (i) the cost and expense of any
investigation, assessment, evaluation, monitoring, containment, cleanup, repair, restoration, remediation, or other corrective action required or necessary under Environmental Laws, (ii) the cost or expense of the preparation and implementation
of any closure, remedial, corrective action, or other plans required or necessary under Environmental Laws, and (iii) the cost and expense for any Environmental Claim, including pre-trial, trial, or appellate legal or litigation support work.

 “Environmental Laws” means all federal, state and local laws, statutes, rules, regulations, orders and
ordinances, now or hereafter in effect, relating to protection of the environment, including the federal Comprehensive Environmental Response, Compensation, and Liability Act, the Superfund Amendments Reauthorization Act, the Resource Conservation
and Recovery Act, the Clean Air Act, the Federal Water Pollution Control Act, the Toxic Substances Control Act, the Oil Pollution Act, the Safe Drinking Water Act, the Hazardous Materials Transportation Act, and other environmental conservation and
protection laws, each as amended from time to time. 
 “Fifteenth Amended and Restated Omnibus Agreement” is defined
in the introduction to this Agreement. 
 “First ROFR Acceptance Deadline” is defined in Section 5.2(b).

  
 B-5 

 “Force Majeure” means acts of God, strikes, lockouts or other industrial
disturbances, acts of the public enemy, wars (whether or not an official declaration is made thereof), terrorist attacks, blockades, insurrections, riots, epidemics, landslides, lightening, earthquakes, fires, hurricanes, storms, floods, washouts,
freezeoffs, arrests, the order of any Governmental Authority having jurisdiction while the same is in force and effect, civil disturbances, explosions, breakage, accident to machinery, equipment, storage tanks or lines of pipe, repairs, maintenance,
inability to obtain or unavoidable delay in obtaining permits, material or equipment, and any other causes whether of the kind herein enumerated or otherwise not reasonably within the control of the Party claiming suspension and which by the
exercise of due diligence such Party is unable to prevent or overcome. Notwithstanding anything in this Agreement to the contrary, inability of a Party to make payments when due, be profitable or to secure funds, arrange bank loans or other
financing, obtain credit or have adequate capacity or production (other than for reasons of Force Majeure) shall not be regarded as events of Force Majeure. 

“Frontier Pipeline” is defined in the introduction to this Agreement. 

“General Partner” is defined in the introduction to this Agreement. 

“Governmental Authority” means any federal, state, local or foreign government or any provincial, departmental or
other political subdivision thereof, or any entity, body or authority exercising executive, legislative, judicial, regulatory, administrative or other governmental functions or any court, department, commission, board, bureau, agency,
instrumentality or administrative body of any of the foregoing. 
 “Hazardous Substance” means (a) any
substance that is designated, defined or classified as a hazardous waste, hazardous material, pollutant, contaminant, or toxic or hazardous substance, or that is otherwise regulated under any Environmental Law, including, any hazardous substance as
defined under the Comprehensive Environmental Response, Compensation, and Liability Act, and (b) petroleum, crude oil, gasoline, natural gas, fuel oil, motor oil, waste oil, diesel fuel, jet fuel and other refined petroleum hydrocarbons. 

“HEP” is defined in the introduction to this Agreement. 

“HEP El Dorado” is defined in the introduction to this Agreement. 

“HEP Entities” is defined in the introduction to this Agreement. 

“HEP Entity” means any of the HEP Entities. 

“HEP Group” means the HEP Entities and any Subsidiary of any such Person, all of which are treated as a single
consolidated entity for purposes of this Agreement. 
 “HEP Group Member” means any member of the HEP Group. 

“HEP Pipeline” is defined in the introduction to this Agreement. 

“HEP Refining” is defined in the introduction to this Agreement. 

“HEP Refinery Assets” is defined in the introduction to this Agreement. 

“HEP Tulsa” is defined in the introduction to this Agreement. 

  
 B-6 

 “HEP UNEV” is defined in the introduction to this Agreement. 

“HEP UNEV Pipeline” is defined in the introduction to this Agreement. 

“HFC” is defined in the introduction to this Agreement. 

“HFC Group” means the HFC Entities and any Person controlled, directly or indirectly, by HFC other than the HEP
Entities. 
 “HFC Group Member” means any member of the HFC Group. 

“HFRM” is defined in the introduction to this Agreement. 

“HollyFrontier Cheyenne” is defined in the introduction to this Agreement. 

“HollyFrontier El Dorado” is defined in the introduction to this Agreement. 

“HollyFrontier Navajo” is defined in the introduction to this Agreement. 

“HollyFrontier Tulsa” is defined in the introduction to this Agreement. 

“HollyFrontier Woods Cross” is defined in the introduction to this Agreement. 

“Holly GP” is defined in the introduction to this Agreement. 

“Indemnified Claims” means losses, damages, liabilities, Claims, demands, causes of action, judgments, settlements,
fines, penalties, costs, and expenses (including, court costs and reasonable attorney’s and expert’s fees) of any and every kind or character. 

“Indemnified Party” means all or part of either the HEP Entities or the HFC Entities, as the case may be, in their
capacity as the parties entitled to indemnification in accordance with Article III. 
 “Indemnifying
Party”means all or part of either the HEP Entities or the HFC Entities, as the case may be, in their capacity as the parties from whom indemnification may be required in accordance with Article III. 

“Initial Tank Inspections” is defined in Section 7.1. 

“Initial Tank Inspection Period” is defined in Section 7.1 

“Liability” means with respect to any Person, any economic losses (including, diminution in value and lost profits
suffered by third parties to the extent an Indemnified Party is required to pay for such damages), damages, injuries (including, personal injury and death), liabilities, of any and every kind or character, known or unknown, fixed, contingent or
suffered. 
 “Limited Partner” is defined in the Partnership Agreement. 

“Malaga Pipeline System” means the Pipeline System, as such term is defined in the Malaga TSA. 

“Malaga TSA” means that certain Amended and Restated Transportation Services Agreement (Malaga) dated as of
September 26, 2014 by and between HFRM and Operating Partnership, pursuant to which Operating Partnership provides certain transportation services for HFRM on the Malaga Pipeline System, as such agreement may be amended, modified or replaced
from time to time. 

  
 B-7 

 “March 2010 Drop Down LLC Interest Purchase Agreement” means that certain
LLC Interest Purchase Agreement dated as of March 31, 2010, by and among HFC, Lea Refining Company, HollyFrontier Tulsa, HEP Refining and HEP Tulsa, pursuant to which HFC, Lea Refining Company and HollyFrontier Tulsa agreed to transfer and
convey to HEP Refining and HEP Tulsa the Additional Tulsa East Assets and the Additional Lovington Assets. 
 “Master
Agreements” means the Master Lease and Access Agreement, Master Site Services Agreement, Master Systems Operating Agreement, Master Throughput Agreement and Master Tolling Agreements. 

“Master Lease and Access Agreement” means that certain Third Amended and Restated Master Lease and Access Agreement
dated effective as of the Effective Date among certain of the HEP Entities and the Refinery Owners. 
 “Master Site Services
Agreement” means that certain Third Amended and Restated Master Site Services Agreement dated effective as of the Effective Date among certain of the HEP Entities and the Refinery Owners. 

“Master Systems Operating Agreement” means that certain Second Amended and Restated Master Systems Operating Agreement
dated as of the Effective Date among certain of the HEP Entities and the Refinery Owners. 
 “Master Throughput
Agreement” means that certain Third Amended and Restated Master Throughput Agreement effective as of the Effective Date between the Operating Partnership and HFRM. 

“Master Tolling Agreements” means that certain Master Tolling Agreement (Refinery Assets) dated effective as of
November 1, 2015 between HollyFrontier El Dorado and the Operating Partnership, and that certain Amended and Restated Master Tolling Agreement (Operating Assets) dated effective as of the Effective Date between HollyFrontier El Dorado,
HollyFrontier Woods Cross and the Operating Partnership. 
 “Navajo Pipeline” is defined in the introduction to this
Agreement. 
 “Net Recovery” is defined in Section 3.7(f). 

“November 2011 Frontier Drop Down LLC Interest Purchase Agreement” means that certain LLC Interest Purchase Agreement
effective as of November 1, 2011, by and among HFC, HollyFrontier Cheyenne, HollyFrontier El Dorado, the Operating Partnership and HEP, pursuant to which HollyFrontier Cheyenne and HollyFrontier El Dorado agreed sell to the Operating
Partnership the entities that own the Cheyenne Assets and the El Dorado Assets. 
 “Offer” is defined in Section
2.4(a) 
 “Offer Price” is defined in Section 5.2(a)(iii). 

“OLP GP” is defined in the introduction to this Agreement. 

“Operating Partnership” is defined in the introduction to this Agreement. 

  
 B-8 

 “Original Omnibus Agreement” is defined in the recitals to this
Agreement. 
 “Osage” means Osage Pipe Line Company, LLC, a Delaware limited liability company. 

“Osage Membership Interest” means a fifty percent (50%) limited liability company membership interest in Osage.

 “Other Assets” means those assets owned by a HEP Entity that serve the Refineries and were not conveyed,
contributed, or otherwise transferred, directly or indirectly by the HFC Entities to the HEP Entities, as indicated in column (a) of Exhibit D, Part 2; provided, that for the purposes of Section 3.2, Other Assets shall
not include that certain 8” pipeline extending 50 miles from the White City Station that was formerly used as a refined products pipeline and that was conveyed to the HEP Entities as part of the 2004 Product Pipelines, Terminal and Related
Assets. 
 “Partnership Agreement” means the First Amended and Restated Agreement of Limited Partnership of Holly
Energy Partners, L.P. dated as of July 13, 2004 as amended or supplemented by the following: 
  

			
	Agreement	  	Effective Date
	Amendment No. 1 to the First Amended and Restated Agreement of Limited Partnership of Holly Energy
Partners, L.P.	  	February 28, 2005
	Amendment No. 2 to the First Amended and Restated Agreement of Limited Partnership of Holly Energy
Partners, L.P.	  	July 6, 2005
	Amendment No. 3 to the First Amended and Restated Agreement of Limited Partnership of Holly Energy
Partners, L.P.	  	April 11, 2008
	Limited Partial Waiver of Incentive Distribution Rights	  	July 12, 2012
	Amendment No. 4 to the First Amended and Restated Agreement of Limited Partnership of Holly Energy
Partners, L.P.	  	January 16, 2013
	Amendment No. 5 to the First Amended and Restated Agreement of Limited Partnership of Holly Energy
Partners, L.P.	  	June 13, 2016

 No amendment or modification to the Partnership Agreement subsequent to the date of this Agreement shall be given effect for
the purposes of this Agreement unless consented to by each of the Parties. 
 “Party” means any one of the entities
listed on the signature page to this Agreement, collectively the “Parties”. 
 “Permitted Assets”
is defined in Section 2.2(d). 
 “Person” means an individual or a corporation, limited liability company,
partnership, joint venture, trust, unincorporated organization association, government agency or political subdivision thereof or other entity. 

  
 B-9 

 “Post-Closing Covered Environmental
Losses” means, to the extent such violation, event or condition occurred after the Closing Date:  
  

	 	(a)	any violation or correction of violation of Environmental Laws associated with the operation of the Transferred Assets by a Person other than a HFC Entity or ownership and operation of the Transferred Assets by a Person
other than a HFC Entity, or 

  

	 	(b)	any event or condition associated with the ownership and/or operation of the Transferred Assets by a Person other than a HFC Entity (including the presence of Hazardous Substances on, under, about or migrating to or
from the Transferred Assets or the disposal or release of Hazardous Substances generated by operation of the Transferred Assets) including, the Environmental Costs; 

provided, however, that nothing stated above shall make the HEP Entities responsible for any post-Closing Date negligent actions or omissions or willful
misconduct by any of the HFC Entities. 
 “Pre-Closing Covered Environmental Losses” means, to the extent such
violation, event or condition occurred before the Closing Date: 
  

	 	(a)	any violation or correction of violation of Environmental Laws associated with the ownership or operation of the Transferred Assets by a Person other than a HEP Entity or ownership and operation of the Transferred
Assets by a Person other than a HEP Entity, or 

  

	 	(b)	any event or condition associated with ownership and/or operation of the Transferred Assets by a Person other than a HEP Entity (including, the presence of Hazardous Substances on, under, about or migrating to or from
the Transferred Assets or the disposal or release of Hazardous Substances generated by operation of the Transferred Assets), including, the Environmental Costs. 

provided, however, that nothing stated above shall make the HFC Entities responsible for any pre-Closing Date negligent actions omissions or willful
misconduct by any of the HEP Entities. 
 “Proposed Transferee” is defined in Section 5.2(a)(i). 

“Prudent Industry Practice” means such practices, methods, acts, techniques, and standards as are in effect at the
time in question that are consistent with (a) the standards generally followed by the United States pipeline and terminalling industries or (b) such higher standards as may be applied or followed by the HFC Entities in the performance of
similar tasks or projects, or by the HEP Entities in the performance of similar tasks or projects. 
 “Purchase Option
Agreement” has the meaning set forth in the Asset Purchase Agreement, dated August 1, 2009, between HollyFrontier Tulsa, as the seller, and HEP Tulsa, as the buyer. 

“Refinery” or “Refineries” means each of the Refinery Complexes identified in the Master Lease
and Access Agreement. 
 “Refinery Owners” means each of the HFC Entities that own one or more of the Refineries.

 “Respondent” is defined in Section 8.2(a). 

  
 B-10 

 “Restricted Business” or “Restricted Businesses”
means the ownership or operation of crude oil pipelines or terminals, intermediate petroleum product pipelines or terminals, refined petroleum products pipelines, terminals, truck racks or crude oil gathering systems in the continental United
States. 
 “Retained Assets” means the pipelines, terminals and other assets and investments owned by any HFC Group
Member on the date of the Contribution Agreement that were not conveyed, contributed or otherwise transferred to the HEP Entities pursuant to the Contribution Agreement or otherwise. 

“Roadrunner” is defined in the introduction to this Agreement. 

“Roadrunner Pipeline” means 16” crude oil pipeline extending from Slaughter station in Texas to Lovington, New
Mexico owned by Roadrunner. 
 “Roadrunner Pipeline Purchase Agreement” means that certain LLC Interest Purchase
Agreement dated as of December 1, 2009 by and among Navajo Pipeline and the Operating Partnership, pursuant to which the Operating Partnership acquired, all of the outstanding limited liability company interests of Roadrunner, the entity that
owns the Roadrunner Pipeline. 
 “ROFR Acceptance Deadline” means the First ROFR Acceptance Deadline or the Second
ROFR Acceptance Deadline, as applicable, both as defined in Section 5.2(b) and (c). 
 “Sale
Assets” is defined in Section 5.2(a)(ii). 
 “Second ROFR Acceptance Deadline” is defined
in Section 5.2(c). 
 “Services and Secondment Agreement”means that certain Third Amended and Restated
Services and Secondment Agreement dated effective as of the Effective Date, by and among Holly GP, the Operating Partnership, Cheyenne Logistics, El Dorado Logistics, El Dorado Operating, HEP Tulsa, Woods Cross Operating, HollyFrontier Payroll
Services, Inc., a Delaware corporation, HollyFrontier Cheyenne, HollyFrontier El Dorado HollyFrontier Tulsa and HollyFrontier Woods Cross. 

“Sinclair” means Sinclair Tulsa Refining Company. 

“Sinclair Purchase Agreement” means that certain Asset Sale and Purchase Agreement dated as of October 19, 2009,
by and among HollyFrontier Tulsa, HEP Tulsa and Sinclair, pursuant to which HEP Tulsa acquired the Sinclair Transferred Assets. 

“Sinclair Transferred Assets” means the HEP Tulsa Assets as defined in the Sinclair Purchase Agreement. 

“Storage and Handling Agreement” means that certain Storage and Handling Agreement dated February 21, 1997,
between the Operating Partnership and Alon U.S.A., L.P., as amended effective January 1, 2004, September 1, 2008 and March 1, 2011. 

“Third Party” means a Person which is not (a) HEP or an Affiliate of HEP, (b) HFC or an affiliate of HFC,
(c) a Person that, after the signing of this Agreement becomes a successor entity of HEP, HFC or any of their respective Affiliates. An employee of HFC or HEP shall not be deemed an Affiliate. 

“Toxic Tort” means a Claim or cause of action arising from personal injury or property damage incurred by the
plaintiff that is alleged to have been caused by exposure to, or contamination by, Hazardous Substances that have been released into the environment by or as a result of the actions or omissions of the defendant. 

  
 B-11 

 “Transfer” including the correlative terms
“Transferring” or “Transferred” means any direct or indirect transfer, assignment, sale, gift, pledge, hypothecation or other encumbrance, or any other disposition (whether voluntary, involuntary or by operation of
law) of the Assets. 
 “Transferred Assets” means all of the assets conveyed, contributed, or otherwise transferred,
directly or indirectly (including by transfer or sale of the entity that owns such assets or the entity that owns the interests in the entity that owns such assets) that serve the Refineries, by the HFC Entities to the HEP Entities, as indicated in
column (a) of Exhibit D, Part 1; provided that for the purposes of Section 3.2, the term “Transferred Assets” shall include (a) that certain 8” pipeline extending 50 miles from the White City
Station that was formerly used as a refined products pipeline and that was conveyed to the HEP Entities as part of the 2004 Product Pipelines, Terminal and Related Assets, and (b) the Tulsa West Crude Tank Assets. 

“Transferred Tanks” means the tanks included in the Assets, as indicated in column (h) of Exhibit D. 

“Tulsa Interconnecting Pipelines” means the Interconnecting Pipelines as defined in the Tulsa Throughput Agreement.

 “Tulsa New Tanks” means petroleum products storage tank nos. 45 and 444A located at the Tulsa Refinery Complex.

 “Tulsa Purchase Agreement” means that certain Asset Purchase Agreement dated as of August 1, 2009, by and
between HollyFrontier Tulsa and HEP Tulsa, pursuant to which HollyFrontier Tulsa transferred and conveyed to HEP Tulsa, and HEP Tulsa acquired, the Tulsa Transferred Assets. 

“Tulsa Throughput Agreement” means that certain Second Amended and Restated Pipelines, Tankage and Loading Rack
Throughput Agreement (Tulsa East), dated as of August 31, 2011, pursuant to which HEP Tulsa agreed to provide transportation services to HollyFrontier Tulsa with respect to the Tulsa Interconnecting Pipelines. 

“Tulsa Transferred Assets” means the Transferred Assets as defined in the Tulsa Purchase Agreement. 

“Tulsa West Crude Tank Assets” means the Leased Property as defined in the Bill of Sale, Assignment and Assumption
Agreement dated as of March 31, 2016 between Plains Marketing, L.P. and HEP Tulsa. 
 “UNEV LLC Interest Purchase
Agreement” means that certain LLC Interest Purchase Agreement dated as of July 12, 2012, by and among HFC, HEP UNEV and HEP, pursuant to which HFC agreed to sell to HEP UNEV the entity that owns 75% of all of the issued and
outstanding membership interests of UNEV Pipeline, LLC, the entity that owns the UNEV Pipeline. 
 “UNEV
Pipeline” means, collectively, an approximately 400 mile, 12-inch refined products pipeline currently running from Woods Cross, Utah to Las Vegas, Nevada, related products terminals in or near Cedar City, Utah and Las Vegas, Nevada and
other related assets owned by UNEV Pipeline, LLC.  

  
 B-12 

 “UNEV Profits Interest” means the membership interest in HEP UNEV held
directly or indirectly by HFC. 
 “Voting Securities” means securities of any class of a Person entitling the
holders thereof to vote on a regular basis in the election of members of the board of directors or other governing body of such Person. 

“Wood Cross Operating” is defined in the introduction to this Agreement. 

“Woods Cross Refinery Assets” has the meaning ascribed to the term “Assets” in that certain LLC Interest
Purchase Agreement dated as of October 3, 2016 and effective as of October 1, 2016 by and among HollyFrontier Woods Cross, HFC and the Operating Partnership, pursuant to which HollyFrontier Woods Cross agreed to sell to the Operating
Partnership all of the issued and outstanding limited liability company interests in Woods Cross Operating. 

  
 B-13 

 Exhibit C 

to 
 Sixteenth Amended and
Restated Omnibus Agreement 
  
  

Interpretation 
 As used in this
Agreement, unless a clear contrary intention appears: 
 (a) any reference to the singular includes the plural and vice
versa, any reference to natural persons includes legal persons and vice versa, and any reference to a gender includes the other gender; 

(b) the words “hereof”, “hereby”, “herein” and “hereunder” and words of similar import,
when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement; 

(c) any reference to Articles, Sections and Exhibits are, unless otherwise stated, references to Articles, Sections and
Exhibits of or to this Agreement and references in any Section or definition to any clause means such clause of such Section or definition. The headings in this Agreement have been inserted for convenience only and shall not be taken into account in
its interpretation; 
 (d) reference to any agreement (including this Agreement), document or instrument means such
agreement, document, or instrument as amended, modified or supplemented and in effect from time to time in accordance with the terms thereof and, if applicable, the terms of this Agreement; 

(e) the Exhibits hereto form an integral part of this Agreement and are equally binding therewith. Any reference to “this
Agreement” shall include such Exhibits; 
 (f) references to a Person shall include any permitted assignee or successor
to such Party in accordance with this Agreement and reference to a Person in a particular capacity excludes such Person in any other capacity; 

(g) if any period is referred to in this Agreement by way of reference to a number of days, the days shall be calculated
exclusively of the first and inclusively of the last day unless the last day falls on a day that is not a Business Day in which case the last day shall be the next succeeding Business Day; 

(h) the use of “or” is not intended to be exclusive unless explicitly indicated otherwise; 

(i) references to “$” or to “dollars” shall mean the lawful currency of the United States of America; and

 (j) the words “includes,” “including,” or any derivation thereof shall mean “including without
limitation” or “including, but not limited to.” 

  
 C-1 

 Exhibit D 

to 
 Sixteenth Amended and
Restated Omnibus Agreement 
  
  

Asset Indemnification Summary 
 Part 1:
Transferred Assets: 
  

															
	(a)	  	(b)	  	(c)	  	(d)	  	(e)	  	(f)	  	(g)	  	(h)
	
TRANSFERRED
 ASSET AND

CLOSING DATE
	  	 HFC

ENVIRONMENTAL

(Expiration Date)
	  	 HEP

ENVIRONMENTAL1
	  	RIGHT-OF-WAY	  	 ADDITIONAL

INDEMNITIES
	  	 OPERATIONAL

INDEMNITY
	  	 RIGHT OF

FIRST
 REFUSAL
	  	 INCLUDES

TRANSFERRED
 TANKS

	 	  	 Indemnity from HFC to
HEP for Pre-Closing Covered Environmental Losses under Section 3.2(a) / Aggregate cap on HFC environmental indemnity in Section 3.1(b)

(expiration date of indemnity)
	  	Indemnity from HEP to HFC for Post-Closing Covered Environmental Losses under Section 3.4(a)	  	 Right-of-Way Indemnity under
Sections 3.2(a)(iii) and 3.2(a)(iv)
 (expiration date of indemnity)
	  	 Additional Indemnities under
Section 3.2(a)(vi)
 (expiration date of indemnity)2
	  	Additional Indemnities under Section 3.5	  	Right of First Refusal under Article V	  	 
	 2004 Product
Pipelines, Terminal and Related Assets
 (July 13, 2004)
	  	 $15,000,000

(July 13, 2014)
	  	✓	  	 ✓

(July 13, 2014)
	  	 ✓

(July 13, 2009)
	  	✓	  	✓	  	No
	 8” and 10”
Lovington/Artesia Intermediate Pipelines
 (June 1, 2009)
	  	 $2,500,000

(June 1, 2019)
	  	✓	  	 ✓

(June 1, 2019)
	  	 ✓

(June 1, 2014)
	  	✓	  	✓	  	No

 

	1 	Where subsurface rights are not transferred to the HEP Entities, the HEP Entities have no liabilities for subsurface contamination unless caused by an HEP Entity. 

	2 	Notification of Claim must be provided prior to date noted. 

  
 D-1 

															
	(a)	  	(b)	  	(c)	  	(d)	  	(e)	  	(f)	  	(g)	  	(h)
	
TRANSFERRED
 ASSET AND

CLOSING DATE
	  	 HFC

ENVIRONMENTAL

(Expiration Date)
	  	 HEP

ENVIRONMENTAL
	  	RIGHT-OF-WAY	  	 ADDITIONAL

INDEMNITIES
	  	 OPERATIONAL

INDEMNITY
	  	 RIGHT OF

FIRST
 REFUSAL
	  	 INCLUDES

TRANSFERRED
 TANKS

	 2008 Crude
Pipelines, Tanks and Related Assets
 (March 1, 2008)
	  	 $7,500,000

(March 1, 2023)
	  	✓	  	 ✓

(March 1, 2023)
	  	 ✓

(March 1, 2013)
	  	✓	  	✓	  	Yes
	 16”
Lovington/Artesia Intermediate Pipeline
 (June 1, 2009)
	  	None	  	✓	  	 ✓

(June 1, 2019)
	  	 ✓

(June 1, 2014)
	  	✓	  	✓	  	No
	 Tulsa Transferred
Assets
 (August 1, 2009)
	  	None	  	None	  	None	  	None	  	None	  	None 3	  	No
	 Beeson Pipeline

(December 1, 2009)
	  	None	  	✓	  	 ✓

(December 1, 2019)
	  	 ✓

(December 1, 2014)
	  	✓	  	✓	  	No
	 Roadrunner
Pipeline
 (December 1, 2009)
	  	None	  	✓	  	 ✓

(December 1, 2019)
	  	 ✓

(December 1, 2014)
	  	✓	  	✓	  	No
	 Additional Lovington
Assets
 (March 31, 2010)
	  	 $15,000,000

(March 31, 2020)
	  	✓	  	 ✓

(March 31, 2020)
	  	 ✓

(March 31, 2015)
	  	✓	  	✓	  	No
	 Additional Tulsa
East Assets
 (March 31, 2010)
	  	 unlimited

(no expiration)
	  	None	  	None	  	None	  	None	  	✓	  	No
	 Sinclair Transferred
Assets
 (October 19, 2009)
	  	None	  	None	  	None	  	None	  	None	  	✓	  	Yes
	 Tulsa
Interconnecting Pipelines
 (August 31, 2011)
	  	None	  	✓	  	(August 31, 2021)	  	(August 31, 2016)	  	✓	  	✓	  	No

 

	3 	Right of first refusal granted to an Affiliate of HFC with respect to the Tulsa Transferred Assets is contained in the Purchase Option Agreement. 

  
 D-2 

															
	(a)	  	(b)	  	(c)	  	(d)	  	(e)	  	(f)	  	(g)	  	(h)
	
TRANSFERRED
 ASSET AND

CLOSING DATE
	  	 HFC

ENVIRONMENTAL

(Expiration Date)
	  	 HEP

ENVIRONMENTAL
	  	RIGHT-OF-WAY	  	 ADDITIONAL

INDEMNITIES
	  	 OPERATIONAL

INDEMNITY
	  	 RIGHT OF

FIRST
 REFUSAL
	  	 INCLUDES

TRANSFERRED
 TANKS

	 Cheyenne Assets

(November 1, 2011)
	  	 $15,000,000

(November 1, 2021)
	  	✓	  	 ✓

(November 1, 2021)
	  	 ✓

(November 1, 2016)
	  	✓	  	✓	  	Yes
	 El Dorado Assets

(November 1, 2011)
	  	 $15,000,000

(November 1, 2021)
	  	✓	  	 ✓

(November 1, 2021)
	  	 ✓

(November 1, 2016)
	  	✓	  	✓	  	Yes
	 UNEV Pipeline

(July 12, 2012)
	  	None	  	✓	  	 ✓

(July 12, 2022)
	  	 ✓

(July 12, 2017)
	  	✓	  	None 4	  	No
	 El Dorado Refinery
Assets
 (November 1, 2015)
	  	 $15,000,000

(November 1, 2025)
	  	✓	  	 ✓

(November 1, 2025)
	  	 ✓

(November 1, 2020)
	  	✓	  	✓	  	No
	 Osage

(February 22, 2016)
	  	None	  	None	  	None	  	None	  	None	  	None 5	  	No
	 Tulsa West Crude
Tank Assets
 (11:59 p.m., March 31, 2016)
	  	 $5,000,000

(11:59 p.m., March 31, 2026)
	  	✓	  	None	  	 ✓

(11:59 p.m., March 31, 2021)6
	  	✓	  	✓	  	No
	 Woods Cross Refinery
Assets
 October 1, 2016
	  	 $15,000,000

October 1, 2026
	  	✓	  	 ✓

October 1, 2026
	  	 ✓

October 1, 2026
	  	✓	  	✓	  	No

  

	4 	However, the right of first refusal includes the equity interests of HEP UNEV Holdings LLC, HEP UNEV Pipeline LLC and UNEV Pipeline, LLC then owned directly or indirectly by the HEP Entities; provided, however, the
right of first refusal on the equity interests of UNEV Pipeline, LLC is subject to any rights of the other member(s) of UNEV Pipeline, LLC. 

	5 	However, the right of first refusal includes the equity interests of El Dorado Osage and Osage then owned directly or indirectly by the HEP Entities; provided, however, the right of first refusal on the equity interests
of Osage is subject to any rights of the other member(s) of Osage. 

	6 	Notwithstanding such expiration date, the indemnity provided for in Section 3.2(a)(vi)(F) applies only to the Tulsa West Crude Tank Assets and expires at 11:59 p.m. on March 31, 2017. 

  
 D-3 

 Part 2: Other Assets: 
  

															
	(a)	  	(b)	  	(c)	  	(d)	  	(e)	  	(f)	  	(g)	  	(h)
	
OTHER ASSET AND
 CLOSING
DATE
	  	 HFC ENVIRONMENTAL

(Expiration Date)
	  	 HEP

ENVIRONMENTAL
	  	RIGHT-OF-WAY	  	 ADDITIONAL

INDEMNITIES
	  	 OPERATIONAL

INDEMNITY
	  	 RIGHT OF

FIRST
 REFUSAL
	  	 INCLUDES

TRANSFERRED
 TANKS

	 	  	 Indemnity from HFC to
HEP for Pre-Closing Covered Environmental Losses under Section 3.2(a) / Aggregate cap on HFC environmental indemnity in Section 3.1(b)

(expiration date of indemnity)
	  	Indemnity from HEP to HFC for Post-Closing Covered Environmental Losses under Section 3.4(a)	  	 Right-of-Way Indemnity under Sections
3.2(a)(iii) and 3.2(a)(iv)
 (expiration date of indemnity)
	  	 Additional Indemnities under Section
3.2(a)(vi)(A)
 (expiration date of indemnity)1
	  	Additional Indemnities under Section 3.5	  	Right of First Refusal under Article V	  	 
	 Malaga Pipeline
System
 (July 16, 2013, as amended by that certain Amended and Restated Transportation Services Agreement dated September 26, 2014)
	  	None 7	  	✓	  	None	  	None	  	✓	  	✓	  	No
	 El Dorado New Tank
(Tank 647)
 (January 7, 2014)
	  	None	  	✓	  	 ✓

(January 7, 2024)
	  	None	  	✓	  	✓	  	No
	 Artesia Railyard
Facility
 (November 1, 2014)
	  	None	  	✓	  	None	  	None	  	✓	  	✓	  	No
	 El Dorado
Terminal
 (March 6, 2015)
	  	None	  	✓	  	None	  	None	  	✓	  	✓	  	No

  

	7 	However, Section 3.1(a) covers the 8” pipeline extending 50 miles from White City Station that was formerly used as a refined products pipeline that was conveyed to HEP as part of the 2004 Product
Pipelines, Terminal and Related Assets. 

  
 D-4 

															
	Beeson to Lovington System Expansion (March 12, 2015)	  	None	  	✓	  	None	  	None	  	✓	  	✓	  	No
	 Artesia Blending
Facility
 (March 12, 2015)
	  	None	  	✓	  	 ✓

(March 12, 2025)
	  	None	  	✓	  	✓	  	No
	 Cheyenne New Tank
(Tank 117)
 (December 4, 2014)
	  	None	  	✓	  	 ✓

(December 4, 2029)
	  	None	  	✓	  	✓	  	No
	 Tulsa New Tanks

(Tanks 45 and 444A)
 (May 1, 2016)
	  	None	  	✓	  	 ✓

(May 1, 2026)
	  	None	  	✓	  	✓	  	No
	 El Dorado New Tank
(Tank 651)
 (September 12, 2016)
	  	None	  	✓	  	 ✓

(September 12, 2026)
	  	None	  	✓	  	✓	  	No

  
 D-5 

 Exhibit E 

to 
 Sixteenth Amended and
Restated Omnibus Agreement 
  
  

Administrative Fee 
  

						
	  	  	
Amount of Annual Administrative Fee

 

	
Years beginning July 13, 2004 through June 30, 2007
	  	 	 	$2,000,000	 
	
Years beginning July 1, 2007 through February 29, 2008
	  	 	 	$2,100,000	 
	
Years beginning from and after March 1, 2008 through December 31, 2014
	  	 	 	$2,300,000	 
	
Years beginning January 1, 2015 through December 31, 2015
	  	 	 	$2,380,500	 
	
Years beginning January 1, 2016
	  	 	 	$2,464,000	 

 General and Administrative Services 
  

	 	(1)	executive services 

  

	 	(2)	finance, including treasury, and administration services 

  

	 	(3)	information technology services 

  

	 	(4)	legal services 

  

	 	(5)	corporate health, safety and environmental services 

  

	 	(6)	human resources services 

  

	 	(7)	procurement 

  

	 	(8)	corporate operations team services 

  
 E-1

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