Document:

EX-10.1

 Exhibit 10.1 

Par Pacific Holdings, Inc. 

$100,000,000 5.00% Convertible Senior Notes due 2021 

Registration Rights Agreement 
 June 21,
2016 
 Merrill Lynch, Pierce, Fenner & Smith 

                     Incorporated 

One Bryant Park 
 New York, NY 10036 

As representative of the Initial Purchasers 
 Ladies and
Gentlemen: 
 Par Pacific Holdings, Inc., a Delaware corporation (the “Company”), proposes to issue and sell to certain
purchasers (the “Initial Purchasers”), for whom you (the “Representative”) are acting as representative, its 5.00% Convertible Senior Notes due 2021 (the “Notes”), upon the terms set forth in the
Purchase Agreement by and between the Company and the Representative, dated as of June 16, 2016 (the “Purchase Agreement”), relating to the initial placement (the “Initial Placement”) of the Notes. The
“Notes” hereunder will be deemed to include any Notes issued by the Company pursuant to one or more exercises of the Initial Purchasers’ option to purchase additional Notes in accordance with the Purchase Agreement. In certain
circumstances, the Notes will be convertible into shares of common stock, par value $0.01 per share, of the Company (the “Common Stock”) and shares of Common Stock may be issued by the Company in respect of any Make-Whole Premium
(as defined in the Indenture (as defined below)) payable on the Notes, in each case, in accordance with the terms of the Notes and the Indenture (as defined below). To induce the Initial Purchasers to enter into the Purchase Agreement and to satisfy
their obligations thereunder, the holders of the Notes will have the benefit of this registration rights agreement (this “Agreement”) by and among the Company and the Initial Purchasers whereby the Company agrees with you for your benefit
and the benefit of the holders from time to time of the Notes (including the Initial Purchasers) (each a “Holder” and, collectively, the “Holders”), as follows: 

1. Definitions. Capitalized terms used herein without definition shall have their respective meanings set forth in the Purchase
Agreement. As used in this Agreement, the following capitalized defined terms shall have the following meanings: 
 “Act”
shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder. 

“Affiliate” shall have the meaning specified in Rule 405 under the Act and the terms “controlling” and
“controlled” shall have meanings correlative thereto. 
 “Automatic Shelf Registration Statement” shall mean a
Registration Statement filed by a Well-Known Seasoned Issuer which shall become effective upon filing thereof pursuant to General Instruction I.D for Form S-3. 

 “Broker-Dealer” shall mean any broker or dealer registered as such under the Exchange
Act. 
 “Business Day” shall mean each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking
institutions in New York, New York are authorized or obligated by law or executive order to close. 
 “Closing Date” shall mean
June 21, 2016, the first date of original issuance of the Notes. 
 “Commission” shall mean the Securities and Exchange
Commission. 
 “Common Stock” shall have the meaning set forth in the preamble hereto. 

“Company” shall have the meaning set forth in the preamble hereto. 

“Deferral Period” shall have the meaning indicated in Section 3(i) hereof. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission
promulgated thereunder. 
 “Final Memorandum” shall mean the final offering memorandum, dated June 16, 2016, relating to the
Notes, including any and all annexes thereto and any information incorporated by reference therein as of such date. 
 “FINRA”
shall mean the Financial Industry Regulatory Authority or any successor agency thereto. 
 “Holder” shall have the meaning set
forth in the preamble hereto. 
 “Indenture” shall mean the Indenture relating to the Notes, dated the date hereof, by and between
the Company and Wilmington Trust, National Association, as trustee, as the same may be amended from time to time in accordance with the terms thereof. 

“Initial Placement” shall have the meaning set forth in the preamble hereto. 

“Initial Purchasers” shall have the meaning set forth in the preamble hereto. 

“Losses” shall have the meaning set forth in Section 5(d) hereof. 

“Majority Holders” shall mean, on any date, Holders of a majority of the shares of Common Stock registered under the Shelf
Registration Statement and that still constitute Registrable Securities. 
 “Managing Underwriters” shall mean the investment
banker or investment bankers and manager or managers that administer an underwritten offering, if any, conducted pursuant to Section 6 hereof. 

“Note” shall have the meaning set forth in the preamble. 

“Notice and Questionnaire” shall mean a written notice delivered to the Company substantially in the form attached as Annex B to the
Final Memorandum. 

  
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 “Notice Holder” shall mean, on any date, any Holder of Registrable Securities that has
delivered a properly completed Notice and Questionnaire to the Company on or prior to such date. 
 “Prospectus” shall mean a
prospectus included in the Shelf Registration Statement (including, without limitation, a prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A or
Rule 430B under the Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Common Stock covered by the Shelf Registration Statement, and all amendments and supplements thereto,
including any and all exhibits thereto and any information incorporated by reference therein. 
 “Purchase Agreement” shall have
the meaning set forth in the preamble hereto. 
 “Registrable Securities” shall mean shares of Common Stock initially issuable
upon conversion of, or in respect of any Make-Whole Premium (as defined in the Indenture) on, the Notes initially sold to the Initial Purchasers pursuant to the Purchase Agreement other than those that have (i) been registered under a Shelf
Registration Statement and disposed of in accordance therewith, (ii) become eligible to be sold without restriction as contemplated by Rule 144 under the Act or any successor rule or regulation thereto that may be adopted by the Commission, (iii)
ceased to be outstanding, whether as a result of redemption, repurchase, cancellation, exchange or otherwise, or (iv) been sold to the public pursuant to Rule 144 under the Act. 

“Registration Default Damages” shall have the meaning set forth in Section 7 hereof. 

“Shelf Registration Period” shall have the meaning set forth in Section 2(c) hereof. 

“Shelf Registration Statement” shall mean a “shelf” registration statement of the Company pursuant to the provisions of
Section 2 hereof which covers some or all of the Common Stock on an appropriate form under Rule 415 under the Act, or any similar rule that may be adopted by the Commission, amendments and supplements to such registration statement,
including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all material incorporated by reference therein. 

“underwriter” shall mean any underwriter of Common Stock in connection with an offering thereof under the Shelf Registration
Statement. 
 “Well-Known Seasoned Issuer” shall have the meaning set forth in Rule 405 under the Act. 

2. Shelf Registration. (a) The Company shall file with the Commission a Shelf Registration Statement (which shall be an
Automatic Shelf Registration Statement if the Company is then a Well-Known Seasoned Issuer) as soon as practicable following the date hereof and in any event on or prior to the 90th day after the Closing Date, providing for the registration of, and
the sale on a continuous or delayed basis by the Holders of, all of the Registrable Securities, from time to time in accordance with the methods of distribution elected by such Holders, pursuant to Rule 415 under the Act or any similar rule that may
be adopted by the Commission. 
 (b) If the Company is not a Well-Known Seasoned Issuer on such 90th day and such Shelf Registration
Statement is not an Automatic Shelf Registration Statement, the Company shall use its best efforts to cause the Shelf Registration Statement to become or be declared effective under the Act within 180 days after the Closing Date. 

  
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 (c) The Company shall use its best efforts to keep the Shelf Registration Statement continuously
effective, supplemented and amended as required by the Act, in order to permit the Prospectus forming part thereof to be usable by Holders for a period (the “Shelf Registration Period”) from the date the Shelf Registration Statement is
declared effective by the Commission (or becomes effective in the case of an Automatic Shelf Registration Statement) until the earlier of (i) the 120th calendar day immediately following the maturity date of the Notes or (ii) the date upon which
there are no longer outstanding any Notes or “restricted” (within the meaning of Rule 144 under the Act) shares of Common Stock that have been received upon conversion of the Notes or in respect of any Make-Whole Premium (as defined under
the Indenture). The Company shall be deemed not to have used its best efforts to keep the Shelf Registration Statement effective during the Shelf Registration Period if it voluntarily takes any action that would result in Holders of Registrable
Securities not being able to offer and sell such Common Stock at any time during the Shelf Registration Period, unless such action is (x) required by applicable law or otherwise undertaken by the Company in good faith and for valid business
reasons (not including avoidance of the Company’s obligations hereunder), including the acquisition or divestiture of assets, and (y) permitted by Section 3(i) hereof. Neither the Company nor any of its securityholders (other than Holders
of Registrable Securities) shall have the right to include any securities of the Company in any Shelf Registration Statement other than Registrable Securities. 

(d) The Company shall cause the Shelf Registration Statement and the related Prospectus and any amendment or supplement thereto, as of the
effective date of the Shelf Registration Statement or such amendment or supplement, (i) to comply in all material respects with the applicable requirements of the Act; and (ii) not to contain any untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary in order to make the statements therein (in the case of the Prospectus, in the light of the circumstances under which they were made) not misleading. 

(e) The Company shall notify Holders of the anticipated effective date of the Shelf Registration Statement at least 15 Business Days prior to
the anticipated effective date. Each Holder of Registrable Securities agrees to deliver a Notice and Questionnaire and such other information as the Company may reasonably request in writing, if any, to the Company at least ten Business Days prior
to the anticipated effective date of the Shelf Registration Statement as notified to Holders. If a Holder does not timely complete and deliver a Notice and Questionnaire or provide the other information the Company may reasonably request in
writing, that Holder will not be named as a selling securityholder in the Prospectus and will not be permitted to sell its Registrable Securities under the Shelf Registration Statement. From and after the effective date of the Shelf
Registration Statement, the Company shall, as promptly as is practicable after the date a Notice and Questionnaire is delivered, and in any event within 20 Business Days after such date, (i) if required by applicable law, use its best efforts to
file with the Commission a post-effective amendment to the Shelf Registration Statement or prepare and, if permitted or required by applicable law, file a supplement to the related Prospectus or an amendment or supplement to any document
incorporated therein by reference or file any other required document so that the Holder delivering such Notice and Questionnaire is named as a selling securityholder in the Shelf Registration Statement and the related Prospectus, and so that such
Holder is permitted to deliver such Prospectus to purchasers of the Registrable Securities in accordance with applicable law and, if the Company shall file a post-effective amendment to the Shelf Registration Statement, cause such post-effective
amendment to be declared effective under the Act as promptly as is practicable; provided that the Company shall not be required to file more than one post-effective amendment in any 90-day period in accordance with this Section 2(e)(i); (ii)
provide such Holder, upon request, copies of any documents filed pursuant to Section 2(e)(i) hereof; and (iii) notify such Holder as promptly as practicable after the effectiveness under the Act of any post-effective amendment filed or the filing of
any supplement to the related Prospectus, pursuant to Section 2(e)(i) hereof; provided that if such Notice and Questionnaire is delivered during a Deferral Period, the Company shall so inform the Holder delivering such Notice and
Questionnaire and shall take the actions set forth in clauses (i), (ii) and (iii) above upon expiration of the Deferral Period in accordance 

  
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with Section 3(i) hereof. Notwithstanding anything contained herein to the contrary, the Company shall be under no obligation to name any Holder that is not a Notice Holder as a selling
securityholder in the Shelf Registration Statement or related Prospectus; provided, however, that any Holder that becomes a Notice Holder pursuant to the provisions of this Section 2(e) (whether or not such Holder was a Notice Holder
at the effective date of the Shelf Registration Statement) shall be named as a selling securityholder in the Shelf Registration Statement or related Prospectus in accordance with the requirements of this Section 2(e). Notwithstanding the
foregoing, if (A) all or any portion of the Notes are called for redemption or (B) a Holder converts any Notes pursuant to the terms of the Indenture, the Company shall use its best efforts to file a supplement to the related Prospectus or
post-effective amendment within five Business Days of the relevant Redemption Date (as defined in the Indenture) or the end of the relevant Observation Period (as defined in the Indenture) (if the Company elects to pay and deliver, as the case may
be, a combination of cash and shares of Common Stock in respect of the relevant conversion) or Conversion Date (as defined in the Indenture) (if the Company elects to settle the relevant conversion by delivering solely shares of Common Stock (other
than paying cash in lieu of delivering any fractional share)), as applicable, naming as a selling securityholder therein all Notice Holders that have completed and delivered a Notice and Questionnaire and provided the other information reasonably
requested in writing by the Company, in each case, on or before such Redemption Date, Observation Period end date or Conversion Date, as applicable. 

3. Registration Procedures. The following provisions shall apply in connection with the Shelf Registration Statement. 

(a) The Company shall: 

(i) furnish to each of the Representatives and to counsel for the Notice Holders (as appointed in accordance with Section 4),
not less than five Business Days prior to the filing thereof with the Commission, a copy of the Shelf Registration Statement and each amendment thereto and each amendment or supplement, if any, to the Prospectus included therein (including all
documents incorporated by reference therein after the initial filing) and shall use its best efforts to reflect in each such document, when so filed with the Commission, such comments as the Representatives reasonably propose within three (3)
Business Days of the delivery of such copies to the Representative; and 
 (ii) include information regarding the Notice
Holders and the methods of distribution they have elected for their Registrable Securities provided to the Company in Notices and Questionnaires as necessary to permit such distribution by the methods specified therein. 

(b) The Company shall ensure that: 

(i) the Shelf Registration Statement and any amendment thereto and any Prospectus forming part thereof and any amendment or
supplement thereto complies in all material respects with the Act; and 
 (ii) the Shelf Registration Statement and any
amendment thereto does not, when it becomes effective, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. 

(c) The Company shall advise the Representatives, the Notice Holders and any underwriter that has provided in writing to the Company a
telephone or facsimile number and address for 

  
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notices, and confirm such advice in writing (which notice pursuant to clauses (ii) through (v) hereof shall be accompanied by an instruction to suspend the use of the Prospectus until the Company
shall have remedied the basis for such suspension): 
 (i) when the Shelf Registration Statement and any amendment thereto
has been filed with the Commission and when the Shelf Registration Statement or any post-effective amendment thereto has become effective; 

(ii) of any request by the Commission for any amendment or supplement to the Shelf Registration Statement or the Prospectus or
for additional information; 
 (iii) of the issuance by the Commission of any stop order suspending the effectiveness of the
Shelf Registration Statement or the institution or threatening of any proceeding for that purpose or any other lapse in the effectiveness of the Shelf Registration Statement during the Shelf Registration Period; 

(iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Common Stock
included therein for sale in any jurisdiction or the institution or threatening of any proceeding for such purpose; and 

(v) of the happening of any event that requires any change in the Shelf Registration Statement or the Prospectus so that, as of
such date, they (A) do not contain any untrue statement of a material fact and (B) do not omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in the light of the
circumstances under which they were made) not misleading. 
 (d) The Company shall use its best efforts to prevent the issuance of any order
suspending the effectiveness of the Shelf Registration Statement or the qualification of the securities therein for sale in any jurisdiction and, if issued, to obtain as soon as possible the withdrawal thereof. The Company shall undertake additional
reasonable actions as required to permit unrestricted resales of the Common Stock in accordance with the terms and conditions of this Agreement. 

(e) Upon request, the Company shall furnish to each Notice Holder, without charge, at least one copy of the Shelf Registration Statement and
any post-effective amendment thereto, including all material incorporated therein by reference, and, if a Notice Holder so requests in writing, all exhibits thereto (including exhibits incorporated by reference therein). 

(f) During the Shelf Registration Period, the Company shall promptly deliver to each Initial Purchaser, each Notice Holder, and any sales or
placement agents or underwriters acting on their behalf, without charge, as many copies of the Prospectus (including the preliminary Prospectus, if any) included in the Shelf Registration Statement and any amendment or supplement thereto as any such
person may reasonably request. Subject to the restrictions in this Agreement, the Company consents to the use of the Prospectus or any amendment or supplement thereto by each of the foregoing in connection with the offering and sale of the Common
Stock. 
 (g) Prior to any offering of Common Stock pursuant to the Shelf Registration Statement, the Company shall (i) arrange for the
qualification of the Common Stock for sale under the laws of such jurisdictions as any Notice Holder shall reasonably request and shall maintain such qualification in effect so long as required, and (ii) cooperate with the Holders in connection
with any filings required to be made with FINRA; provided that in no event shall the Company be obligated to qualify to do business or as a 

  
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dealer of securities in any jurisdiction where it is not then so qualified or to take any action that would subject it to taxation or service of process in suits, other than those arising out of
the Initial Placement or any offering pursuant to the Shelf Registration Statement, in any jurisdiction where it is not then so subject. 

(h) Upon the occurrence of any event contemplated by subsections (c)(ii) through (v) above, the Company shall promptly (or within the
time period provided for by Section 3(i) hereof, if applicable) prepare a post-effective amendment to the Shelf Registration Statement or an amendment or supplement to the related Prospectus or file any other required document to remedy the basis
for any suspension of the Shelf Registration Statement and so that, as thereafter delivered to Initial Purchasers and Holders of Common Stock registered thereunder, the Prospectus will not include an untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

(i) Upon the occurrence or existence of any pending corporate development, public filing with the Commission or any other material event that,
in the reasonable judgment of the Company, makes it appropriate to suspend the availability of the Shelf Registration Statement and the related Prospectus, the Company shall give notice (without notice of the nature or details of such events) to the
Notice Holders that the availability of the Shelf Registration Statement is suspended and, upon receipt of any such notice, each Notice Holder agrees to hold such notice in confidence and not to sell any Registrable Securities pursuant to the Shelf
Registration Statement until such Notice Holder’s receipt of copies of the supplemented or amended Prospectus provided for in Section 3(h) hereof, or until it is advised in writing by the Company that the Prospectus may be used, and has
received copies of any additional or supplemental filings that are incorporated or deemed incorporated by reference in such Prospectus. The period during which the availability of the Shelf Registration Statement and any Prospectus is suspended
pursuant to this Section 3(i) (the “Deferral Period”) shall not exceed 30 days in any 90-day period or 60 days in any 360-day period; provided that, if the event triggering the Deferral Period relates to a proposed or pending
material business transaction, the disclosure of which the board of directors of the Company determines in good faith would be reasonably likely to impede the ability to consummate the transaction, or would otherwise be seriously detrimental to the
Company and its subsidiaries taken a whole, the Company may extend the Deferral Period from 30 days to 45 days in any 90-day period or from 60 days to 90 days in any 360-day period. 

(j) The Company shall comply with all applicable rules and regulations of the Commission and shall make generally available to its
securityholders an earnings statement satisfying the provisions of Section 11(a) of, and Rule 158 under, the Act as soon as practicable after the effective date of the Shelf Registration Statement and in any event no later than 45 days after
the end of a 12-month period (or 90 days, if such period is a fiscal year) beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of the Shelf Registration Statement. 

(k) The Company may require each Holder of Registrable Securities to be sold pursuant to the Shelf Registration Statement to furnish to the
Company such information regarding the Holder and the distribution of such Registrable Securities as the Company may from time to time reasonably require for inclusion in the Shelf Registration Statement. The Company may exclude from the Shelf
Registration Statement the Registrable Securities of any Holder that unreasonably fails to furnish such information within ten Business Days after receiving such request. 

(l) Subject to Section 6 hereof, the Company shall enter into customary agreements (including, if requested by the Majority Holders, an
underwriting agreement in customary form) and take all other appropriate actions in order to expedite or facilitate the registration or the disposition of the Registrable Securities, and in connection therewith, if an underwriting agreement is
entered into, cause the same to contain customary indemnification provisions and procedures. 

  
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 (m) Subject to Section 6 hereof, the Company shall: 

(i) make reasonably available during business hours for inspection by the Holders of Common Stock to be registered thereunder,
any underwriter participating in any disposition pursuant to the Shelf Registration Statement, and any attorney, accountant or other agent retained by the Holders or any such underwriter all relevant financial and other records and pertinent
corporate documents of the Company and its subsidiaries; 
 (ii) cause the Company’s officers, directors, employees,
accountants and auditors to supply all relevant information reasonably requested by the Holders or any such underwriter, attorney, accountant or agent in connection with the Shelf Registration Statement as is customary for similar due diligence
examinations; 
 (iii) make such representations and warranties to the Holders of Common Stock registered thereunder and the
underwriters, if any, in form, substance and scope as are customarily made by issuers to underwriters in primary underwritten offerings and covering matters including, but not limited to, those set forth in the Purchase Agreement; 

(iv) obtain opinions of counsel to the Company and updates thereof (which counsel and opinions (in form, scope and substance)
shall be reasonably satisfactory to the Managing Underwriters, if any) addressed to each selling Holder and the underwriters, if any, covering such matters as are customarily covered in opinions requested in underwritten offerings and such other
matters as may be reasonably requested by such Holders and underwriters; 
 (v) obtain “comfort” letters and
updates thereof from the independent certified public accountants of the Company (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any business acquired by the Company for which financial
statements and financial data are, or are required to be, included in the Shelf Registration Statement), addressed to each selling Holder of Common Stock registered thereunder and the underwriters, if any, in customary form and covering matters of
the type customarily covered in “comfort” letters in connection with primary underwritten offerings; and 
 (vi)
deliver such documents and certificates as may be reasonably requested by the Majority Holders or the Managing Underwriters, if any, including those to evidence compliance with Section 3(i) hereof and with any customary conditions contained in the
underwriting agreement or other agreement entered into by the Company. 
 The actions set forth in clauses (iii) through (vi) of this paragraph (m) shall be
performed in connection with any underwriting or similar agreement as and to the extent required thereunder. 
 (n) In the event that any
Broker-Dealer shall underwrite any Common Stock or participate in a public offering (within the meaning of the rules of FINRA) as a member of an underwriting syndicate or selling group, whether as a Holder of such Common Stock or as an underwriter,
a placement or sales agent or a broker or dealer in respect thereof, or otherwise, the Company shall assist such Broker-Dealer in complying with the applicable rules and regulations of FINRA. 

(o) The Company shall use its best efforts to take all other steps necessary to effect the registration of the offer and sale of the
Registrable Securities covered by the Shelf Registration Statement. 

  
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 4. Registration Expenses. The Company shall bear all expenses incurred in connection
with the performance of its obligations under Sections 2 and 3 hereof and shall reimburse the Holders for the reasonable fees and disbursements of one firm or counsel per jurisdiction designated by the Majority Holders (which shall initially be
Brown Rudnick LLP) to act as counsel for the Holders in connection therewith; provided, however, that such expenses shall not include, and the Company shall not have any obligation to pay, any underwriting fees, discounts or
commissions attributable to the sale of such Registrable Securities, or any fees and expenses of any Broker-Dealer or other financial intermediary engaged by any Holder. 

5. Indemnification and Contribution. (a) The Company agrees to indemnify and hold harmless each Holder of Common Stock
covered by the Shelf Registration Statement, each Initial Purchaser, the directors, officers, employees, Affiliates and agents of each such Holder or Initial Purchaser and each person who controls any such Holder or Initial Purchaser within the
meaning of either the Act or the Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject under the Act, the Exchange Act or other federal or state statutory law or
regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Shelf
Registration Statement as originally filed or in any amendment thereof, or in any preliminary Prospectus or the Prospectus, or in any amendment thereof or supplement thereto, or arise out of or are based upon the omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of any preliminary Prospectus or the Prospectus, in the light of the circumstances under which they were made) not misleading, and
agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by it in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however,
that the Company will not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in
reliance upon and in conformity with written information furnished to the Company by or on behalf of the party claiming indemnification specifically for inclusion therein. This indemnity agreement shall be in addition to any liability that the
Company may otherwise have to the indemnified party. 
 The Company also agrees to indemnify as provided in this Section 5(a) or contribute
as provided in Section 5(d) hereof to Losses of each underwriter, if any, of Common Stock registered under the Shelf Registration Statement, its directors, officers, employees, Affiliates or agents and each person who controls such underwriter on
substantially the same basis as that of the indemnification of the Initial Purchasers and the selling Holders provided in this paragraph (a) and shall, if requested by any Holder, enter into an underwriting agreement reflecting such agreement, as
provided in Section 3(l) hereof. 
 (b) Each Holder of securities covered by the Shelf Registration Statement (including each Initial
Purchaser that is a Holder, in such capacity) severally and not jointly agrees to indemnify and hold harmless the Company, each of its directors, each of its officers who signs the Shelf Registration Statement and each person who controls the
Company within the meaning of either the Act or the Exchange Act, to the same extent as the foregoing indemnity from the Company to each such Holder, but only with reference to written information relating to such Holder furnished to the Company by
or on 

  
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behalf of such Holder specifically for inclusion in the documents referred to in the foregoing indemnity. This indemnity agreement shall be acknowledged by each Notice Holder that is not an
Initial Purchaser in such Notice Holder’s Notice and Questionnaire and shall be in addition to any liability that any such Notice Holder may otherwise have to the Company. 

(c) Promptly after receipt by an indemnified party under this Section 5 or notice of the commencement of any action, such indemnified party
will, if a claim in respect thereof is to be made against the indemnifying party under this Section 5, notify the indemnifying party in writing of the commencement thereof; but the failure so to notify the indemnifying party (i) will not
relieve it from liability under paragraph (a) or (b) above unless and to the extent it did not otherwise learn of such action and such failure results in the forfeiture by the indemnifying party of substantial rights and defenses; and
(ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraph (a) or (b) above. The indemnifying party shall be entitled to appoint
counsel (including local counsel) of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which indemnification is sought (in which case the indemnifying party shall not
thereafter be responsible for the fees and expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party, retained by the indemnified party or parties except as set forth below); provided,
however, that such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel (including local counsel) to represent the indemnified party in an action, the
indemnified party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel chosen by the
indemnifying party to represent the indemnified party would present such counsel with a conflict of interest; (ii) the actual or potential defendants in, or targets of, any such action include both the indemnified party and the indemnifying
party and the indemnified party shall have reasonably concluded that there may be legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party; (iii) the
indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of the institution of such action; or (iv) the indemnifying party shall
authorize the indemnified party to employ separate counsel at the expense of the indemnifying party. The indemnifying party will not be responsible for the fees and expenses of more than one firm or counsel per jurisdiction for all indemnified
persons. An indemnifying party will not, without the prior written consent of the indemnified party, settle or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in
respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an actual or potential parties to such claim or action) unless such settlement, compromise or consent includes an unconditional release
of such indemnified party from all liability arising out of such claim, action, suit or proceeding. 
 (d) In the event that the indemnity
provided in paragraph (a) or (b) of this Section 5 is unavailable to or insufficient to hold harmless an indemnified party for any reason, then each applicable indemnifying party shall have a joint and several obligation to contribute to the
aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably incurred in connection with investigating or defending loss, claim, liability, damage or action) (collectively “Losses”) to which such
indemnified party may be subject in such proportion as is appropriate to reflect the relative benefits received by such indemnifying party, on the one hand, and such indemnified party, on the other hand, from the Initial Placement and the Shelf
Registration Statement which resulted in such Losses; provided, however, that in no case shall any Initial Purchaser be responsible, in the aggregate, for any amount in excess of the commission applicable to the Notes, as set forth in
the Final Memorandum, nor shall any underwriter be responsible for any amount in excess of the underwriting discount or commission applicable to the securities purchased by such underwriter under the Shelf Registration Statement which

  
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resulted in such Losses. If the allocation provided by the immediately preceding sentence is unavailable for any reason, the indemnifying party and the indemnified party shall contribute in
such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of such indemnifying party, on the one hand, and such indemnified party, on the other hand, in connection with the statements or omissions which
resulted in such Losses as well as any other relevant equitable considerations. Benefits received by the Company shall be deemed to be equal to the total net proceeds from the Initial Placement (before deducting expenses) as set forth in the
Final Memorandum. Benefits received by the Initial Purchasers shall be deemed to be equal to the total commissions as set forth in the Final Memorandum, and benefits received by any other Holders shall be deemed to be equal to the value of
receiving Common Stock registered under the Act. Benefits received by any underwriter shall be deemed to be equal to the total underwriting discounts and commissions, as set forth on the cover page of the Prospectus forming a part of the Shelf
Registration Statement which resulted in such Losses. Relative fault shall be determined by reference to, among other things, whether any untrue or any alleged untrue statement of a material fact or omission or alleged omission to state a
material fact relates to information provided by the indemnifying party, on the one hand, or by the indemnified party, on the other hand, the intent of the parties and their relative knowledge, access to information and opportunity to correct or
prevent such untrue statement or omission. The parties agree that it would not be just and equitable if contribution were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or any other method of
allocation which does not take account of the equitable considerations referred to above. Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 5, each person who controls a Holder within the meaning of either the Act or the Exchange Act and
each director, officer, employee and agent of such Holder shall have the same rights to contribution as such Holder, and each person who controls the Company within the meaning of either the Act or the Exchange Act, each officer of the Company who
shall have signed the Shelf Registration Statement and each director of the Company shall have the same rights to contribution as the Company, subject in each case to the applicable terms and conditions of this paragraph (d). 

(e) The provisions of this Section 5 shall remain in full force and effect, regardless of any investigation made by or on behalf of any Holder
or the Company or any of the indemnified persons referred to in this Section 5, and shall survive the sale by a Holder of securities covered by the Shelf Registration Statement. 

6. Underwritten Registrations. (a) In no event will the method of distribution of Registrable Securities take the form of an
underwritten offering without the prior written consent of the Company. 
 (b) If any shares of Common Stock covered by the Shelf
Registration Statement are to be sold in an underwritten offering, the Managing Underwriters shall be selected by the Company, subject to the prior written consent of the Majority Holders, which consent shall not be unreasonably withheld. 

(c) No person may participate in any underwritten offering pursuant to the Shelf Registration Statement unless such person (i) agrees to sell
such person’s shares of Common Stock on the basis reasonably provided in any underwriting arrangements approved by the persons entitled hereunder to approve such arrangements; and (ii) completes and executes all questionnaires, powers of
attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements. 

  
 11 

 7. Registration Defaults. If any of the following events shall occur, then the Company
shall pay liquidated damages (the “Registration Default Damages”) to the Holders as follows: 
 (a) if the Shelf
Registration Statement (which shall be, if the Company is then a Well-Known Seasoned Issuer, an Automatic Shelf Registration Statement) is not filed with the Commission on or prior to the 90th day following the Closing Date, then commencing on the
91st day after the Closing Date, Registration Default Damages shall accrue on the aggregate outstanding principal amount of the Notes, at a rate of 0.25% per annum for the first 90 days from, and including, such 91st day and 0.50% per annum
thereafter; or 
 (b) if the Shelf Registration Statement is not declared effective by the Commission (or has not become effective in the
case of an Automatic Shelf Registration Statement) on or prior to the 180th day following the Closing Date, then commencing on the 181st day after the Closing Date, Registration Default Damages shall accrue on the aggregate outstanding principal
amount of the Notes, at a rate of 0.25% per annum for the first 90 days from, and including, such 181st day and 0.50% per annum thereafter; or 

(c) if the Shelf Registration Statement has been declared or becomes effective but ceases to be effective or usable for the offer and sale of
the Registrable Securities, other than in connection with (A) a Deferral Period or (B) as a result of a requirement to file a post-effective amendment solely to add additional selling securityholders, at any time during the Shelf Registration Period
and the Company does not cure the lapse of effectiveness or usability within ten Business Days (or, if a Deferral Period is then in effect and subject to the 20 Business Day filing requirement and the proviso regarding the filing of post-effective
amendments in Section 2(e) with respect to any Notice and Questionnaire received during such period, within ten Business Days following the expiration of such Deferral Period or period permitted pursuant to Section 2(e)) then Registration Default
Damages shall accrue on the aggregate outstanding principal amount of the Notes at a rate of 0.25% per annum for the first 90 days from, and including, the day following such tenth Business Day and 0.50% per annum thereafter; or 

(d) if the Company through its omission fails to name as a selling securityholder any Holder that had complied timely with its obligations
hereunder in a manner to entitle such Holder to be so named in (i) the Shelf Registration Statement at the time it first became effective or (ii) any Prospectus at the later of time of filing thereof or the time the Shelf Registration Statement of
which the Prospectus forms a part becomes effective then Registration Default Damages shall accrue, on the aggregate outstanding principal amount of the Notes held by such Holder, at a rate of 0.25% per annum for the first 90 days from, and
including, the day following the effective date of such Shelf Registration Statement or the time of filing of such Prospectus, as the case may be, and 0.50% per annum thereafter; or 

(e) if the aggregate duration of Deferral Periods in any period exceeds the number of days permitted in respect of such period pursuant to
Section 3(i) hereof, then commencing on the day the aggregate duration of Deferral Periods in any period exceeds the number of days permitted in respect of such period, Registration Default Damages shall accrue on the aggregate outstanding principal
amount of the Notes at a rate of 0.25% per annum for the first 90 days from, and including, such date, and 0.50% per annum thereafter; 
 provided,
however, that (1) upon the filing of the Shelf Registration Statement (in the case of paragraph (a) above), (2) upon the effectiveness of the Shelf Registration Statement (in the case of paragraph (b) above), (3) upon such time as the Shelf
Registration Statement which had ceased to remain effective or usable for resales again becomes effective and usable for resales (in the case of paragraph (c) above), (4) upon the time such Holder is permitted to sell its Registrable Securities
pursuant to any Shelf Registration Statement and Prospectus in accordance with applicable law (in the case of paragraph (d) above) or (5) upon the termination of the Deferral Period that caused the limit on the aggregate duration of Deferral Periods
in a period set forth in Section 3(i) to be exceeded (in the case of paragraph (e) above), the Registration Default Damages shall cease to accrue. 

  
 12 

 Any amounts of Registration Default Damages due pursuant to this Section 7 will be payable in
cash on the next succeeding Interest Payment Date (as defined under the Indenture) to Holders entitled to receive such Registration Default Damages on the relevant Regular Record Dates (as defined under the Indenture) for the payment of
interest. If any Note ceases to be outstanding during any period for which Registration Default Damages are accruing, the Company will prorate the Registration Default Damages payable with respect to such Note. 

The Registration Default Damages rate on the Notes shall not exceed in the aggregate 0.50% per annum and shall not be payable under more than
one clause above for any given period of time, except that if Registration Default Damages would be payable because of more than one Registration Default, but at a rate of 0.25% per annum under one Registration Default and at a rate of 0.50% per
annum under the other, then the Registration Default Damages rate shall be the higher rate of 0.50% per annum. Other than the Company’s obligation to pay Registration Default Damages in accordance with this Section 7, the Company will not
have any liability for damages with respect to a Registration Default. 
 Notwithstanding any provision in this Agreement, in no event shall
Registration Default Damages accrue to holders of Common Stock issued upon conversion of Notes or in respect of any Make-Whole Premium (as defined under the Indenture). In lieu thereof, the Conversion Rate (as defined in the Indenture) or the
amount of such Make-Whole Premium (as defined in the Indenture), as the case may be, shall be increased by 3.00% for each $1,000 principal amount of Notes converted or redeemed (as applicable) at a time when such Registration Default has occurred
and is continuing in accordance with Section 14.01 of the Indenture; provided, however, that (i) the foregoing adjustment shall not be applied more than once to the same $1,000 principal amount of Notes and (ii) if a Registration
Default occurs after a Holder has converted its Notes into Common Stock or after delivery of any Common Stock in respect of any Make-Whole Premium (as defined in the Indenture), such Holder shall not be entitled to any compensation with respect to
such Common Stock. 
 8. No Inconsistent Agreements. The Company has not entered into, and agrees not to enter into, any
agreement with respect to its securities that is inconsistent with the registration rights granted to the Holders herein. 
 9. Rule 144A
and Rule 144. So long as any Registrable Securities remain outstanding, the Company shall use its commercially reasonable efforts to file the reports required to be filed by it under Rule 144(c) and Rule 144A(d)(4) under the Act in a timely
manner and, if at any time the Company is not required to file such reports, it will, upon the written request of any Holder of Registrable Securities, make publicly available other information so long as necessary to permit sales of such
Holder’s Registrable Securities pursuant to Rules 144 and 144A of the Act. The Company covenants that it will take such further action as any Holder of Registrable Securities may reasonably request, all to the extent required from time to
time to enable such Holder to sell Registrable Securities without registration under the Act within the limitation of the exemptions provided by Rules 144 and 144A under the Act (including, without limitation, the requirements of Rule 144(c) and
Rule 144A(d)(4) under the Act). Upon the written request of any Holder of Registrable Securities, the Company shall deliver to such Holder a written statement as to whether it has complied with such requirements. Notwithstanding the
foregoing, nothing in this Section 9 shall be deemed to require the Company to register any of its securities pursuant to the Exchange Act. 

10. Listing. So long as any Registrable Securities are outstanding, the Company shall use its best efforts to maintain the
approval of the Common Stock for listing on the NYSE MKT or such other exchange or trading market as the Common Stock is then listed. 

  
 13 

 11. Amendments and Waivers. The provisions of this Agreement may not be amended,
qualified, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the Company has obtained the written consent of the Majority Holders; provided, that, with respect to any matter
that directly or indirectly affects the rights of any Initial Purchaser hereunder, the Company shall obtain the written consent of each such Initial Purchaser against which such amendment, qualification, supplement, waiver or consent is to be
effective; provided, further, that no amendment, qualification, supplement, waiver or consent with respect to Section 7 hereof shall be effective as against any Holder of Registrable Securities unless consented to in writing by such
Holder; and provided, further, that the provisions of this Section 11 may not be amended, qualified, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the Company has
obtained the written consent of the Initial Purchasers and each Holder. 
 12. Notices. All notices and other communications
provided for or permitted hereunder shall be made in writing by hand-delivery, first-class mail, telex, telecopier or air courier guaranteeing overnight delivery: 

(a) if to a Holder, at the most current address given by such holder to the Company in accordance with the provisions of the Notice and
Questionnaire; 
 (b) if to the Initial Purchasers or the Representatives, initially at the address or addresses set forth in the Purchase
Agreement; and 
 (c) if to the Company, initially at its address set forth in the Purchase Agreement. 

All such notices and communications shall be deemed to have been duly given when received. 

The Initial Purchasers or the Company by notice to the other parties may designate additional or different addresses for subsequent notices or
communications. 
 Notwithstanding the foregoing, notices given to Holders (i) holding Notes in book-entry form may be given through the
facilities of DTC or any successor depository and (ii) may be given by e-mail at the e-mail address provided by such Holder in accordance with the provisions of the Notice and Questionnaire. 

13. Remedies. Each Holder, in addition to being entitled to exercise all rights provided to it herein or in the Purchase Agreement
or granted by law, including recovery of liquidated or other damages, will be entitled to specific performance of its rights under this Agreement. The Company agrees that monetary damages would not be adequate compensation for any loss incurred
by reason of a breach by them of the provisions of this Agreement and hereby agree to waive in any action for specific performance the defense that a remedy at law would be adequate. 

14. Successors. This Agreement shall inure to the benefit of and be binding upon the parties hereto, their respective successors
and assigns, including, without the need for an express assignment or any consent by the Company thereto, subsequent Holders of Registrable Securities, and the indemnified persons referred to in Section 5 hereof. The Company hereby agrees to
extend the benefits of this Agreement to any Holder of Registrable Securities, and any such Holder may specifically enforce the provisions of this Agreement as if an original party hereto. 

15. Counterparts. This Agreement may be signed in one or more counterparts, each of which shall constitute an original and all of
which together shall constitute one and the same agreement. 

  
 14 

 16. Headings. The section headings used herein are for convenience only and shall not
affect the construction hereof. 
 17. Applicable Law. This Agreement shall be governed by and construed in accordance with the
laws of the State of New York applicable to contracts made and to be performed in the State of New York. The parties hereto each hereby waive any right to trial by jury in any action, proceeding or counterclaim arising out of or relating to
this Agreement. 
 18. Severability. In the event that any one of more of the provisions contained herein, or the application
thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions hereof shall not be in any
way impaired or affected thereby, it being intended that all of the rights and privileges of the parties shall be enforceable to the fullest extent permitted by law. 

19. Common Stock Held by the Company. Whenever the consent or approval of Holders of a specified percentage of Common Stock is
required hereunder, Common Stock held by the Company shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage. 

[remainder of page intentionally left blank; signature pages follow] 

  
 15 

 If the foregoing is in accordance with your understanding of our agreement, please sign and
return to us the enclosed duplicate hereof, whereupon this letter and your acceptance shall represent a binding agreement by and among the Company and the several Initial Purchasers. 

 

					
	Very truly yours,
	
	PAR PACIFIC HOLDINGS, INC.
		
	By:	 	 /s/ Christopher Micklas

		 	Name:	 	Christopher Micklas
		 	Title:	 	CFO

  

					
	 The foregoing Agreement is hereby confirmed and accepted as of the date first above written.

 
 Merrill Lynch, Pierce, Fenner & Smith

                    Incorporated

 
 For itself and as representative of the 
Initial Purchasers

	
	MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
		
	By:	 	 /s/ Mark Sooby

		 	Name:	 	Mark Sooby
		 	Title:	 	Managing Director

 [Signature Page to Registration Rights Agreement]EXCLUSIVE
MANUFACTURE AND SUPPLY AGREEMENT

 

 

THIS
EXCLUSIVE MANUFACTURE AND SUPPLY AGREEMENT (this “Agreement”) is made and entered into this ___ day of June, 2015
(the “Effective Date”), by and among Totally Hemp Crazy, Inc., located at 9101 LBJ Freeway, Suite 200, Dallas, TX
75243 (“Supplier”) and Rodney Peterson or designee (“Company”), in connection with the supply of hemp
infused beverages and other products, as more particularly described in Exhibit A hereto (the “Product”).

 

W
I T N E S S E T H:

 

WHEREAS,
the Supplier holds certain property rights, including, but not limited to, rights to trade names, trademarks, service marks, logos,
formulas, patents and copyrights (hereafter referred to collectively as the “Trademarks”), and is in the business
of producing, supplying, marketing and/or selling the hemp infused beverages, and

 

WHEREAS,
the Company desires to be in the business of marketing and/or selling various hemp-infused beverages of Supplier in Canada; and

 

WHEREAS,
the Company and Supplier desire to enter into an agreement for the manufacture, supply and purchase of certain hemp-infused beverages.

 

NOW
THEREFORE, for and in consideration of the mutual agreements, covenants and obligations contained herein, and the performance
thereof, the parties, intending to be legally bound, agree as follows:

 

I.

PRODUCTS

 

1.1
Exclusivity. Supplier hereby agrees to manufacture, sell and supply hemp-infused beverages products to the
Company for sale in Canada, those products set forth on Exhibit A attached hereto and incorporated herein by reference
(the "Products"), in accordance with the terms and conditions of the Agreement. Supplier agrees that during the term
of this Agreement, Supplier shall not manufacture or supply nor direct or otherwise authorize another supplier to manufacture
or supply hemp-infused Products in Canada, to or for any person or company other than the Company or its express designees without
Company’s express written consent. Company agrees that Supplier is and shall be the exclusive manufacturer of the Products
and that it shall only purchase the Products from Supplier. Company further agrees it will not market, promote, sell or otherwise
distribute in any manner whatsoever, any hemp infused beverages or other products related thereto, other than those of the Supplier.

 

Supplier
further agrees that it will not solicit or accept any contracts from any of the Company’s customers without the express
written consent of Company during the term of this Agreement. Supplier shall promptly refer to Company any customer inquiry regarding
the possible purchase of the Products.

  

 

    	 		 

    	 

    

 

II.

TRADEMARKS

 

2.1
Ownership of Trademarks and Use Thereof by Distributor. Company acknowledges the Supplier’s exclusive
right, title and interest in and to the Trademarks. Company is only authorized to use point of sale (POS) items, banners, artwork,
and any other materials of any nature whatsoever containing, displaying or utilizing any of the Supplier’s Trademarks, images
or graphic artwork which are delivered by the Company. The Supplier grants to Company a revocable, exclusive to Canada only, transferable
to designee only, right and license during the term of this Agreement to use the Trademarks in the Territory in connection with
the sale of the Products. This right and license may be revoked or restricted by the Supplier if at any time the Supplier reasonably
determines in its reasonable discretion that it is necessary or appropriate to do so to protect the Trademarks.

 

III.

PRICING
AND DELIVERY OF THE PRODUCTS

 

3.1
Supply of Products; Pricing. The Supplier will supply Company with, and Company agrees to purchase, the Products
at the prices and on the payment terms mutually agreed between the Company and Supplier in writing (see Exhibit B). Supplier
will use its commercially reasonable, good faith efforts to supply the Products in the quantities requested by Company and as
promptly as commercially and reasonably practicable after an order is received from Company.

 

3.2               
Ordering Procedures. Company shall submit to the Supplier firm purchase orders in advance of the delivery dates
specified. A purchase order may be submitted and accepted in writing, by fax or by e-mail. All purchase orders shall specify the
quantity and type of Product, graphic design, estimated delivery date, the delivery point(s), and any other special instructions
with regard to shipping or delivery. All purchase orders shall be subject to the terms of this Agreement.

 

3.3               
Delivery. Company may obtain delivery of Products at the Supplier's warehouse or the delivery point(s) specified
in the purchase order.

 

3.4
Inspection of Products. Subject to the inspection conditions of this Section 3.4, Company will only be required
to pay for the Products that are provided to Company free of defects at the time of delivery. Company shall promptly and immediately
inspect all containers and shall not accept any containers that do not pass that inspection. The Supplier will either not charge
Company for, or shall provide a credit to Company for, any damaged containers Company receives from the Supplier. The Products
will be deemed received free of defects unless the Supplier is notified in writing or in any manner acceptable to the Supplier
within thirty (30) days after delivery of any of the Products containing latent defects.

 

IV.

INSURANCE
AND INDEMNIFICATION

 

4.1
Duty to Defend, Indemnify and Hold Harmless. Company agrees to indemnify, defend and hold harmless the Supplier,
its officers, employees, agents and representatives from and against any

 

    	 	2	 

    	 

    

 

and
all claims, causes of action, damages, claims for damages, liability, loss, cost or expense, including reasonable attorneys' fees
and expenses of litigation, arising out of or in any way related to performance of this Agreement, except claims arising from
the sole gross negligence of the Company.

 

 

The
foregoing indemnity, defense and hold harmless obligations shall apply to all such claims, losses or liabilities, whether such
claims arise from Products acquired by Company from the Supplier prior to the execution of this Agreement or subsequent thereto.

 

Supplier
shall indemnify the Company on all Products purchased from the Supplier provided that any product defect was not caused by negligence
on behalf of the Company or its accounts and/or customers.

 

V.

DEFAULT

 

5.1
Events of Default. A party shall be deemed to be in default of the terms of this Agreement if any one of the
following events ("Events of Default") occur:

 

(a)               
Such party materially violates any of the terms and conditions of this Agreement;

(b)              
Such party shall file a voluntary petition in bankruptcy or take the benefit of any insolvency act or be dissolved or adjudicated
bankrupt or if a receiver shall be appointed for Company's business or its assets and the appointment of such receiver is not
vacated within thirty (30) days after such appointment, or if such party shall make an assignment for the benefit of its creditors,
or if the interest of such party passes by operation of law to any person or entity other than such party; or

(c)               
Such party becomes insolvent, regardless of how said insolvency may be evidenced.

 

5.2
Remedies. Upon the occurrence of an Event of Default, the non-defaulting party may give written notice to the
defaulting party demanding that the condition of default be cured within thirty (30) calendar days and, if not so cured, the non-defaulting
party, in addition to any other rights or remedies it may have, may do any one or more of the following:

(a)               
Commence a collection action to recover all sums of money due, reserving the right to recover for such other sums of money which
may become due under this Agreement or otherwise;

(b)              
Commence an action to specifically enforce its rights under this Agreement; or

(c)               
To rescind the relevant purchase order and any future orders;

		(d)	Terminate
                                         this Agreement.

 

5.3
Effect of Termination. Upon the termination of this Agreement as provided herein, the obligations of the parties
will terminate, except as may be provided in this Section 5.3 or elsewhere in this Agreement.

 

(a)               
Upon the termination of this Agreement, Supplier will manufacture and deliver to Company, and Company will purchase on the terms
and conditions specified herein, all Products that are the subject of open purchase orders as of the termination of this Agreement;

(b)              
Company shall pay invoices properly delivered to it in accordance with the terms hereof; and

 

    	 	3	 

    	 

    

 

(c)               
The provisions of the following sections of this Agreement shall continue to be in full force and effect after the termination
of this Agreement: (i) Section 4.1, Indemnification and (ii) Section 8.8, Confidentiality.

 

5.4
Remedies Cumulative. All rights and remedies granted under this Agreement shall be cumulative, and resort by
the Supplier to any one remedy provided for hereunder shall not exclude or prevent the Supplier from pursuing any other rights
and remedies provided under this Agreement or by law.

 

5.5
 Attorneys' Fees. If the Company or Supplier brings an action to enforce or assert any right granted pursuant
to this Agreement and is successful in such action, the unsuccessful party shall pay all reasonable costs and expenses, including
reasonable attorneys’ fees, incurred by the successful party in exercising its rights and remedies hereunder.

 

 

VI.

TERM

 

6.1
Term. This Agreement shall commence on the date of its execution and shall continue in full force and effect
for a period of 3 years thereafter, (the "Primary Term"), unless sooner canceled or terminated as provided in this Agreement.
At the end of the Primary Term, and at the end of each year thereafter (each such year being a "Renewal Term"), this
Agreement shall be automatically renewed for successive three-year periods.

 

6.2
Termination. In the event that this Agreement is terminated as provided for herein, neither the Company nor
Supplier shall have any claim or right against the other as a result thereof, and neither shall have any further responsibility
for the performance of any term, provision, or condition of the Agreement except as provided in Section 5.3 (c), or except as
resulting from action or inaction during the term of this Agreement or relating to the payment of outstanding monies owned to
the Company or Supplier, as the case may be.

 

VII.

ASSIGNMENT

 

This
Agreement is personal as to the Company and Supplier. The rights, duties and obligations pursuant to this Agreement cannot be
transferred, assigned, pledged, made subject to a security interest, or otherwise disposed of by either the Company or Supplier
in whole or in part without the express written consent of both parties.

 

  

VIII.

MISCELLANEOUS

 

8.1
 Payments. Payment Terms will be as described in Exhibit B.

 

8.2
Notice. All notices, consents, waivers, and other communications under this Agreement must be in writing
and will be deemed to have been duly given (a) when delivered by hand (with written

 

    	 	4	 

    	 

    

 

confirmation
of receipt), (b) three (3) days after being deposited in the mails, if sent by certified mail, with return receipt requested,
(c) upon confirmed receipt, if sent by facsimile transmission during normal business hours of the receiving party on a business
day, or (d) one (1) day after sending, if sent by a nationally recognized overnight delivery service (receipt requested) specifying
next day delivery, in each case to the appropriate addresses or telecopy numbers set forth on the signature page hereto (or to
such other addresses or telecopy number as a party may designate by notice to the other parties).

 

8.3
 No Partnership, Joint Venture, Franchise, Employer / Employee Relationship. It is understood and agreed
that Company is an independent contractor, and this Agreement and the relationship created hereby shall not be considered to be
a partnership, joint venture, franchise, or an employer/employee relationship, and neither the Company nor Supplier shall have
the right or authority to represent the other in any capacity or to transact any business or incur any obligations, contractual
or otherwise for, in the name of, or on behalf of the other, unless otherwise authorized to do so in writing. The relationship
between the Company and Supplier shall be that of purchaser and supplier.

 

8.4
Authority to Enter into Agreement. The Company and Supplier affirm that they are validly constituted corporate
entities with full right, power and authority to enter into this Agreement and to perform their respective obligations hereunder.

 

8.5
Waivers. No failure or delay on the part of the Company or Purchaser to exercise any right, power
or remedy shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude
any other or further exercise thereof or the exercise of any other right, power or remedy under this Agreement. No amendment,
modification or waiver of any provision of this Agreement shall be effective unless the same shall be in writing signed by the
Company and Purchaser.

 

8.6
Governing Law and Jurisdiction. This Agreement shall be governed by and interpreted in accordance with the
laws of Texas, with sole and exclusive jurisdiction for all disputes arising from this Agreement to be with the Courts of the
State of Texas, and sole and exclusive venue shall be in Dallas County, Texas.

 

8.8
Confidentiality. During the Primary and any Renewal Term hereunder, and for the three (3) year period thereafter,
the parties hereto shall keep the terms and conditions of this Agreement, and any prior Confidentiality and/or Non-Disclosure
Agreements signed by the parties, the transactions contemplated hereby, and either party's records, books, data and other confidential
information concerning the Products, either party's accounts, employees, client development (including customer and prospect lists),
sales activities and procedures, promotional and marketing techniques, pricing, marketing or business plans and strategies, financing,
development and expansion plans and credit and financial data concerning customers and suppliers and all other business information
involving either party (all collectively, the "Confidential Information") strictly confidential, and neither the Company
nor Supplier will make, or cause or permit to be made, any disclosure of any such Confidential Information to any person (it being
understood, however, that in any event such Confidential Information may be disclosed on a confidential basis to the parties'
respective employees and professional advisers who have a need to know such information).

 

8.9
Entire Agreement. This Agreement, which incorporates herein by reference EXHIBITS "A" and
“B”, constitutes the entire, complete and exclusive statement of the terms of the agreement between the parties
with respect to the subject matter hereof and supersedes and cancels any prior agreements, term sheets, understandings, covenants,
promises, assurances, course of dealing or

 

    	 	5	 

    	 

    

 

performance,
representations, warranties, or communications, whether oral or written, between the parties hereto. No covenant, term, provision,
representation or agreement not expressly contained herein shall be implied as a matter of law, interpretation, course of performance
or conduct of the parties. Neither this Agreement nor any provision hereof may be amended, waived or modified except by written
instrument signed after the date hereof by all parties hereto and expressly stating therein that such instrument is intended as
an amendment, modification or waiver hereof.

 

8.10
 Severability. If any terms or provisions of this Agreement are deemed to be invalid or unenforceable, such
determination shall not affect the validity or enforceability of the remaining terms and provisions hereof.

 

8.11
Benefited Parties. This Agreement shall be binding upon and inure to the benefit of any permitted purchasers,
successors or assigns of the Company or Supplier.

 

 

IN
WITNESS WHEREOF, this Agreement has been executed on this ____ day of___________, 2015.

 

 

THE
COMPANY

 

Rodney
Peterson 

Signature:
/s/ Rodney Peterson 

Print
Name: Rodney Peterson

Title:

 

 

SUPPLIER

 

Totally
Hemp Crazy, Inc.

Signature:
/s/ Jerry Grisaffi

Print
Name: Jerry Grisaffi

Title:

 

    	 	6	 

    	 

    

 

EXHIBIT
A 

 

 

PRODUCTS:

 

ROCKY
MOUNTAIN HIGH HEMP ENERGY DRINK

ROCKY
MOUNTAIN HIGH HEMP ICED TEA

ROCKY
MOUNTAIN HIGH HEMP LEMONADE

ROCKY
MOUNTAIN HIGH HEMP COCONUT LIME

ROCKY
MOUNTAIN HIGH HEMP MANGO

ANY
OTHER PRODUCT INTRODUCED BY SUPPLIER

 

 

PACKAGE
SIZE:

 

24
- PACK / 12 oz. SLIM-LINE CANS PER CASE

  

 

EXHIBIT
B

 

 

Company
will pay to supplier the sum of $650,000.00 United States Dollars (USD). For such sum, Supplier will produce the above five products/SKUs
of products, 200,000cans of each, for a total of 1,000,000 cans of products, packaged in cases of 24, for approximately 41,600
cases.

 

Company
will use its best efforts to pay to Supplier the immediate sum of $500,000.00 USD on or before June 29, 2015.

 

Company
is responsible for all freight charges, FOB Memphis, Tennessee. Supplier is responsible for the first 30 days of warehousing,
and the parties will share equally warehousing costs thereafter. 

 

The
Parties will seek to make the next production run in Canada. Company has the right to manufacture in Canada, and if it does so,
it will deliver to Supplier twenty cents (0.20) per can (Canadian Dollar) as a royalty. 

 

    	 	7

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