Document:

EX-10.2

 Exhibit 10.2 
 JOINDER AGREEMENT 
 TO THE 

REGISTRATION RIGHTS AGREEMENT 
 OF 
 TCP INTERNATIONAL HOLDINGS LTD. 

June 24, 2014 
 WHEREAS, on June 24, 2014, Solomon Yan transferred (the “Transfer”) 2,034,789 common shares (the “Shares”) of TCP International Holdings Ltd., a Swiss corporation (the
“Company”), to Cherry Plus Limited, BVI, being a company incorporated under the laws of the British Virgin Islands (“Cherry Plus”). 
 WHEREAS, Cherry Plus is the record owner of the Shares on the date hereof. 

WHEREAS, the Transfer constitutes a permitted assignment of Registrable Securities under the terms of the Registration Rights Agreement,
dated March 21, 2012, by and among the Company , Ellis Yan, Solomon Yan and The Lillian Yan Irrevocable Trust, which is attached hereto as Exhibit A (the “Registration Rights Agreement”). 

NOW, THEREFORE, the parties hereto agree as set forth below: 
 1. Cherry Plus hereby agrees to be bound by all applicable provisions of the Registration Rights Agreement. 
 2. Cherry Plus shall hereinafter be treated for all intents and purposes as, and shall be entitled to all of the rights and subject to all of the obligations of, an Investor under the Registration Rights
Agreement. 
 3. This Agreement shall be governed by the laws of the State of New York. 

[Execution Pages Follow] 

 IN WITNESS WHEREOF, the undersigned has executed this Joinder Agreement. 

 

			
	CHERRY PLUS LIMITED
	
	 /s/ Solomon Yan

		
	By:	 	Solomon Yan
		
	Title:	 	Sole Director

  

[Execution Pages] 

			
	Acknowledged, Accepted and Agreed:
	
	ELLIS YAN
	
	 /s/ Ellis Yan

	
	SOLOMON YAN
	
	 /s/ Solomon Yan

	
	THE LILIAN YAN IRREVOCABLE TRUST
	
	  

		
	By:	 	 /s/ Valarie Campbell

		
	Name:	 	 Valarie Campbell

		
	Title:	 	Trustee
	
	  

		
	By:	 	 /s/ Ira Kaplan

		
	Name:	 	 Ira Kaplan

		
	Title:	 	Trustee
	
	TCP INTERNATIONAL HOLDINGS LTD.
	
	  

		
	By:	 	 /s/ Ellis Yan

		
	Name:	 	 Ellis Yan

		
	Title:	 	 Chief Executive Officer

  

[Execution Pages] 

 EXHIBIT A 
 TCP International Holdings Ltd. Registration Rights Agreement 

 REGISTRATION RIGHTS AGREEMENT 

REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of March 21, 2012, by and among: 

(1) TCP International Holdings Ltd., a company incorporated in Switzerland (the “Company”); and 

(2) Ellis Yan, Solomon Yan and The Lillian Yan Irrevocable Stock Trust (each, an “Investor”, and collectively, the
“Investors”). 
 The Investors on the one hand, and the Company on the other hand, are sometimes herein
referred to each as a “Party,” and collectively as the “Parties.” 
 In consideration of the
premises set forth above, the mutual promises and covenants set forth herein and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties agree as follows: 

1. Interpretation. 

1.1 Definitions. The following terms shall have the meanings ascribed to them below: 

“Affiliate” means, with respect to a specified person, a person that directly or indirectly through one or more
intermediaries, controls or is controlled by, or is under common control with, the person specified. 
 “Applicable
Securities Laws” means the securities law of the United States, including the Exchange Act and the Securities Act, and any applicable securities law of any state of the United States. 

“Board” or “Board of Directors” means the board of directors of the Company. 

“Business Day” means any day that is not a Saturday, Sunday, public holiday or other day on which commercial banks are
required or authorized by law to be closed in Switzerland, the PRC, or the City of New York. 
 “Commission”
means the Securities and Exchange Commission of the United States or any other federal agency at the time administering the Securities Act. 
 “Common Shares” means the common shares, CHF $.10 per share, of the Company. 
 “Exchange Act” means the United States Securities Exchange Act of 1934, as amended. 
 “Form F-3” means Form F-3 promulgated by the Commission under the Securities Act or any successor form or
substantially similar form then in effect. 
 “Form S-3” means Form S-3 promulgated by the Commission under the Securities Act or any successor form or substantially similar form then in effect. 

 “Governmental Authority” means any nation or government or any province or
state or any other political subdivision thereof; any entity, authority or body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including any government authority, agency,
department, board, commission or instrumentality of Switzerland, the PRC or any other country, or any court, tribunal or arbitrator, and any self-regulatory organization. 
 “Holder” means the Investors and transferees as permitted by Section 3.6 holding Registrable Securities. 
 “IPO” means the Company’s underwritten registered initial public offering of Common Shares. 
 “Law” means any constitutional provision, statute or other law, rule, regulation, official policy or interpretation of any Governmental Authority and any injunction, judgment, order,
ruling, assessment or writ issued by any Governmental Authority. 
 “Person” means any individual, corporation,
partnership, limited partnership, proprietorship, association, limited liability company, firm, trust, estate or other enterprise or entity. 
 “PRC” means the People’s Republic of China. 

“Registration” means a registration effected by preparing and filing a Registration Statement and the declaration or
ordering of the effectiveness of that Registration Statement; and the terms “Register” and “Registered” have meanings concomitant with the foregoing. 
 “Registrable Securities” means all of the Common Shares owned by the Investors as of the date hereof or hereinafter acquired by the Investors. 

“Registration Statement” means a registration statement prepared on Form F-1, F-3, S-1 or S-3 under the Securities Act (including Rule 415 under the Securities Act). 

“Securities Act” means the United States Securities Act of 1933, as amended. 

“U.S.” means the United States of America. 
 1.2 Interpretation. For all purposes of this Agreement, except as otherwise expressly provided, (i) the terms defined in this Section 1 shall have the meanings assigned to them in this
Section 1 and include the plural as well as the singular, (ii) all references in this Agreement to designated “Sections” and other subdivisions are to the designated Sections and other subdivisions of the body of this Agreement,
(iii) pronouns of either gender or neuter shall include, as appropriate, the other pronoun forms, (iv) the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as
a whole and not to any particular Section or other subdivision, (v) all references in this Agreement to designated schedules, exhibits and annexes are to the schedules, exhibits and annexes attached to this Agreement unless explicitly stated
otherwise, (vi) “or” is not exclusive, (vii) the term “including” will be deemed to be followed by “, but not limited to,” (viii) the terms “shall,” “will,” and “agrees” are
mandatory, and the term “may” is permissive, and (ix) the term “day” means “calendar day.” 

  
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 2.    Registration Rights. 

2.1 
 (a) Request by Holders. If the Company shall at any time beginning 180 days after the date of the closing of the IPO receive a written request from any Holder that the Company file a registration
statement under the Securities Act covering the registration of Registrable Securities pursuant to this Section 2.1, then the Company shall, within five (5) Business Days of the receipt of such written request, give written notice of such
request (“Request Notice”) to all Holders, and use its best efforts to effect the registration under the Securities Act of all Registrable Securities that Holders request to be registered and included in such registration by written
notice given by such Holders to the Company within twenty (20) days after receipt of the Request Notice, subject only to the limitations of this Section 2.1; provided that, in connection with a demand registration requested pursuant to
this Section 2.1, the Company shall use best efforts to cause any registration statement relating thereto to be filed with the Commission within 30 days after such request and the Company shall use best efforts to cause such registration
statement to be declared effective by the Commission within 60 days of such request; provided, that the Company shall not be obligated to effect any such registration: 

 

	 	(i)	if the Company has, within the six (6) month period preceding the date of such request, already effected a registration under the Securities Act pursuant to this
Section 2.1 or Section 2.3 or in which the Holders had an opportunity to participate pursuant to the provisions of Section 2.2, other than a registration from which all or any portion of the Registrable Securities the Holders
requested be included in such registration have been excluded in accordance with Section 2.3(b); 

  

	 	(ii)	if such Holders, together with the holders of any other securities of the Company entitled to inclusion in such Registration, propose to sell Registrable Securities and
such other securities (if any) at an aggregate price to the public (before payment of any underwriters’ discounts or commissions) of less than U.S. $1,000,000; 

 

	 	(iii)	if in any particular jurisdiction in which the Company would be required to execute a general consent to service of process in effecting such Registration,
qualification or compliance unless the Company is already qualified to do business or subject to service in such jurisdiction and except as may be required by the Securities Act; 

 

	 	(iv)	 if the Company shall furnish to the Holder requesting such Registration a certificate signed by the Chairman of the Board of Directors of the Company
stating that in the good faith judgment of the Board of Directors of the Company, it would be materially 

  
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detrimental to the Company and its shareholders for such Registration to be effected at such time, in which event the Company shall have the right to defer the filing of the Registration
Statement no more than once during any twelve (12) month period for a period of not more than ninety (90) days after receipt of the request of the Investor requesting Registration under this Section 2.3, provided that the Company
shall not register any of its other securities during such ninety (90) day period; or 

  

	 	(v)	after the Company has effected two (2) such registrations pursuant to this Section 2.1(a), and each such registration has been declared or ordered effective.

 (b) Underwriting. If any Holder intends to distribute the Registrable Securities covered
by their request made pursuant to Section 2.1(a) by means of an underwriting, then such Holder shall so advise the Company as a part of its request made pursuant to this Section 2.1 and the Company shall include such information in the
Request Notice referred to in Section 2.1(a). In the event of an underwritten offering, the right of any Holder to include its Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such
underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting (unless otherwise mutually agreed by the Holder that made the request pursuant to Section 2.1(a) and such Holder) to the extent provided herein. All
Holders proposing to distribute their securities through such underwriting shall enter into an underwriting agreement in customary form with the managing underwriter or underwriters selected for such underwriting by the Holders of a majority of the
Registrable Securities being registered and reasonably acceptable to the Company. Notwithstanding any other provision of this Section 2.1, if the underwriter(s) advise(s) the Company and the Holders participating in such offering in writing
that marketing factors require a limitation of the number of securities to be underwritten, then the Company shall so advise all Holders of Registrable Securities which would otherwise be registered and underwritten pursuant hereto, and the number
of Registrable Securities that may be included in the underwriting shall be reduced as required by the underwriter(s) and allocated among the Holders of Registrable Securities on a pro rata basis according to the number of Registrable Securities
then outstanding held by each Holder requesting registration; provided, however, that the number of shares of Registrable Securities to be included in such underwriting and registration shall not be reduced below twenty-five percent
(25%) of the aggregate number of Registrable Securities for which inclusion has been requested, and unless all other securities of the Company (including, without limitation, securities proposed to be offered by the Company) are first entirely
excluded from the underwriting and registration including, without limitation, all shares that are not Registrable Securities and are held by any other person, including, without limitation, any person who is an employee, officer or director of the
Company. If any Holder disapproves of the terms of any such underwriting, such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter(s), delivered at least ten (10) Business Days prior to the effective date
of the Registration Statement. Any Registrable Securities and/or other securities so excluded or withdrawn from such underwriting shall be excluded and withdrawn from the registration. 

  
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 2.2 Piggyback Registrations. 

(a) The Company shall notify each Holder in writing at least thirty (30) days prior to filing any Registration
Statement under the Securities Act for purposes of effecting a public offering of securities of the Company for cash (including any Registration Statement relating to secondary offerings of securities of the Company, but excluding any Registration
Statements filed in connection with the IPO, under Section 2.3 of this Agreement or relating to any employee benefit plan or a corporate reorganization), and shall afford each Holder an opportunity to include in such Registration Statement all
or any part of the Registrable Securities then held by such Holder to the extent provided herein. If a Holder desires to include in any such Registration Statement all or any part of the Registrable Securities held by it, it shall within twenty
(20) days after receipt of the above-described notice from the Company so notify the Company in writing and in such notice shall inform the Company of the number of Registrable Securities such Holder wishes to include in such Registration
Statement. If such Holder decides not to include all of its Registrable Securities in any Registration Statement thereafter filed by the Company, such Holder shall nevertheless continue to have the right to include any Registrable Securities in any
subsequent Registration Statement as may be filed by the Company with respect to offerings of its securities, all upon the terms and conditions set forth herein. 

(b) Underwriting. If a Registration Statement under which the Company gives notice under this Section 2.2 is
for an underwritten offering, then the Company shall so advise each Holder. In such event, the right of any of a Holder’s Registrable Securities to be included in a Registration pursuant to this Section 2.2 shall be conditioned upon such
Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. If a Holder proposes to distribute its Registrable Securities through such
underwriting it shall enter into an underwriting agreement in customary form with the managing underwriter or underwriters selected for such underwriting. If the managing underwriter(s) determine(s) in good faith that marketing factors require a
limitation of the number of Common Shares to be underwritten, then the managing underwriter(s) may exclude any or all Common Shares held by the Holder from the Registration and the underwriting. If a Holder disapproves of the terms of any such
underwriting, such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter(s), delivered at least ten (10) Business Days prior to the effective date of the Registration Statement. Any Registrable Securities
excluded or withdrawn from such underwriting shall be excluded and withdrawn from the Registration. 
 (c) No
Limit on Number of Piggyback Registrations. There shall be no limit on the number of times the Holder may request Registration of Registrable Securities under this Section 2.2. 

  
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 2.3 Form F-3 Registration. 

(a) In case the Company shall receive from a Holder a written request or requests that the Company effect a Registration
on Form F-3 or S-3, as applicable (and any related qualification or compliance) with respect to all or any part of the Registrable Securities owned by such Holder, then
the Company shall promptly give written notice of the proposed Registration and such Holder’s request therefor, and any related qualification or compliance, to all other Holders; and, subject to the provisions of Sections 2.3(b) and (c),
as soon as practicable but in no later than forty-five (45) days after receipt of the request of such Holder, effect such Registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale
and distribution of such Registrable Securities of such Holder as are specified in such request, together with all or such portion of the Registrable Securities of any other Holder joining in such request as are specified in a written request given
within fifteen (15) days after receipt of such written notice from the Company. 
 (b) Notwithstanding
anything to the contrary provided above, the Company shall not be obligated to effect any such Registration, qualification or compliance pursuant to this Section 2.3: 

 

	 	(i)	if Form F-3 or S-3, as applicable, or similar form, is not available for such offering
by the Holders; 

  

	 	(ii)	if such Holders, together with the holders of any other securities of the Company entitled to inclusion in such Registration, propose to sell Registrable Securities and
such other securities (if any) at an aggregate price to the public (before payment of any underwriters’ discounts or commissions) of less than US$1,000,000; 

 

	 	(iii)	if the Company shall furnish to the Holder requesting such Registration a certificate signed by the Chairman of the Board of Directors of the Company stating that in
the good faith judgment of the Board of Directors of the Company, it would be materially detrimental to the Company and its shareholders for such Registration to be effected at such time, in which event the Company shall have the right to defer the
filing of the Registration Statement no more than once during any twelve (12) month period for a period of not more than ninety (90) days after receipt of the request of the Investor requesting Registration under this Section 2.3,
provided that the Company shall not register any of its other securities during such ninety (90) day period; or 

  

	 	(iv)	in any particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to service of process in effecting such
Registration, qualification or compliance unless the Company is already qualified to do business or subject to service of process in that jurisdiction and except as may be required by the Securities Act. 

  
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 (c) Underwriter’s Discretion. If the managing underwriter(s)
determine(s) in good faith that marketing factors require a limitation of the number of Common Shares to be underwritten, then the managing underwriter(s) may exclude any or all Common Shares held by the Holder from the Registration and the
underwriting. If a Holder disapproves of the terms of any such underwriting, such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter(s), delivered at least ten (10) Business Days prior to the effective
date of the Registration Statement. Any Registrable Securities excluded or withdrawn from such underwriting shall be excluded and withdrawn from the Registration. 

(d) No Limit on Number of Form F-3 Registrations. There shall be no limit
on the number of times the Holder may request Registration of Registrable Securities under this Section 2.3. 
 2.4
Expenses. All expenses that are applicable to the sale of Registrable Securities pursuant to this Agreement and incurred in connection with Registrations, filings or qualifications pursuant to this Agreement, including all Registration, filing
and qualification fees, printers’ and accounting fees, fees and disbursements of counsel for the Company, and one counsel for all holders of registration rights relating to any securities of the Company, shall be borne by the Company; provided
that (i) each Holder shall bear its own underwriting discounts and commissions applicable to the sale of its Registrable Securities in such Registration and (ii) if one or more Holders engages its or their own counsel, such Holders shall
bear the legal fees for any other counsel engaged in connection with such Registration. The Company shall not, however, be required to pay for any expenses of any Registration proceeding begun pursuant to this Agreement if the Registration request
is subsequently withdrawn at the request of a majority-in-interest of the Holders requesting such Registration (in which case all participating holders shall bear (or
reimburse the Company to the extent paid by the Company) such expenses pro rata based upon the number of Registrable Securities that were to be thereby Registered in the withdrawn Registration). 

2.5 Obligations of the Company. Whenever required to effect the Registration of any Registrable Securities under this Agreement
the Company shall, as expeditiously as reasonably possible: 
 (a) Registration Statement. Prepare and
file with the SEC a Registration Statement with respect to such Registrable Securities and use its best efforts to cause such Registration Statement to become effective provided, however, that (x) before filing a Registration Statement or
prospectus or any amendments or supplements thereto, the Company shall provide counsel for holders of registration rights relating to securities of the Company with an adequate and appropriate opportunity to review and comment on such Registration
Statement and each prospectus included therein (and each amendment or supplement thereto) to be filled with the SEC, subject to such documents being under the Company’s control, and (y) the Company shall notify the counsel and each seller
of Registrable Securities of any stop order issued or threatened by the SEC and take all action required to prevent the entry of such stop order or to remove it if entered. 

(b) Amendments and Supplements. Prepare and file with the SEC such amendments and supplements to such Registration
Statement and the prospectus used in 

  
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connection with such Registration Statement to keep such Registration Statement effective for up to the shorter of one hundred twenty (120) days or until the distribution contemplated in the
Registration Statement has been completed, provided that if a Holder has requested that a Registration be for an offering on a continuous basis pursuant to Rule 415 under the Securities Act, then the Company shall keep such Registration Statement
effective until the shorter of (i) one hundred and eighty (180) days or (ii) until such time as all Registrable Securities covered by such Registration Statement have been sold, and the Company shall comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by such Registration Statement during such period in accordance with the intended methods of disposition by the sellers thereof set forth in such Registration Statement.

 (c) Prospectuses. Furnish to each Holder such numbers of copies of a prospectus, including a
preliminary prospectus, in conformity with the requirements of the Securities Act, and such other documents as it may reasonably request in order to facilitate the disposition of Registrable Securities owned by it. 

(d) Blue Sky. Use its best efforts to register and qualify the securities covered by such Registration Statement
under such other securities or “blue sky” laws of such jurisdictions as shall be reasonably requested by a Holder, provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business
or to file a general consent to service of process in any such states or jurisdictions unless the Company is already subject to service of process in such jurisdiction and except as may be required by the Securities Act. 

(e) Underwriting. In the event of any underwritten public offering, enter into and perform its obligations under
an underwriting agreement, in usual and customary form, with the managing underwriter of such offering. The Holders participating in such underwriting shall also enter into and perform its obligations under such an agreement with respect to its
securities included in such underwriting; provided that (i) no Holder will be required to make any representations or warranties to or agreements with the Company or the underwriters other than representations, warranties or agreements
specifically regarding such Holder, its rights, title and interest in the Registrable Securities and its intended method of distribution and (ii) no Holder will be required to provide an indemnity in such underwriting agreement that is broader
than the provisions in Section 2.7(b) of this Agreement. 
 (f) Notification. Notify the Holders of
Registrable Securities covered by such Registration Statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such
Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statement therein not misleading in the light of the circumstances
then existing and the Company shall promptly prepare a supplement or amendment to such prospectus (and, if necessary, a post-effective amendment to the Registration Statement) and furnish to the seller of Registrable Securities a reasonable number
of copies of such supplement to or an amendment of such prospectus as may be necessary so that, after delivery to the purchasers of such Registrable Securities, such 

  
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prospectus shall not contain 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 light of the
circumstances under which they were made, not misleading. 
 (g) Exchange Listing. Cause all such
Registrable Securities registered pursuant hereunder to be listed on each securities exchange on which similar securities issued by the Company are then listed. 

(h) Transfer Agent and CUSIP. Provide a transfer agent and registrar for all Registrable Securities registered
pursuant hereunder and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such Registration. 
 (i) To use its commercially reasonable efforts to furnish, at the request of the Holder requesting registration of Registrable Securities pursuant to this Agreement, on the date that such Registrable
Securities are delivered to the underwriters for sale in connection with a Registration pursuant to this Agreement, if such securities are being sold through underwriters, or, if such securities are not being sold through underwriters, on the date
that the registration statement with respect to such securities becomes effective, a copy of (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily
given to underwriters in an underwritten public offering, addressed to the underwriters, if any and (ii) a letter dated such date, from the independent certified public accountants of the Company, in form and substance as is customarily given
by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters. 
 (j) Make available at reasonable times for inspection by any managing underwriter participating in any disposition of such Registrable Securities pursuant to a registration statement, the counsel selected
by any managing underwriter (each, an “Inspector” and collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company and its subsidiaries (collectively, the
“Records”) as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s and its subsidiaries’ officers, directors and employees, and the independent public accountants of
the Company, to supply at reasonable times all information reasonably requested by any such Inspector in connection with such registration statement. No Records shall be disclosed by the Inspectors (and the Inspectors shall confirm their agreement
in writing in advance to the Company if the Company shall so request) unless (x) the disclosure of such Records is necessary, in the Company’s judgment, to avoid or correct a misstatement or omission in the registration statement,
(y) the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction after exhaustion of all appeals therefrom or (z) the information in such Records was known to the Inspectors on a non-confidential basis prior to its disclosure by the Company or has been made generally available to the public. The Seller of Registrable Securities agrees that it shall, upon learning that disclosure of such
Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at the Company’s expense, to undertake appropriate action to prevent disclosure of the Records deemed confidential. 

  
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 2.6 Furnish Information. It shall be a condition precedent to the obligations of the
Company to take any action pursuant to this Section 2 that the Investors shall furnish to the Company such information regarding themselves, the Registrable Securities held by them and the intended method of disposition of such securities as
shall be required to timely effect the Registration of its Registrable Securities. 
 2.7 Indemnification. In the event
any Registrable Securities are included in a Registration Statement under this Section 2: 
 (a)
Indemnification by the Company. To the extent permitted by law, the Company shall indemnify and hold harmless each Holder, and each of their respective partners, officers, directors, employees, advisors, agents, any underwriter (as defined in
the Securities Act) for such Holder, and each Person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against all losses, claims, damages and liabilities (joint or several; or actions,
proceedings or settlements in respect thereof) to which such Holder, partner, officer, director, employee, advisor, agent, underwriter or controlling Person may become subject under laws which are applicable to the Company and relate to action or
inaction required of the Company in connection with any Registration, qualification or compliance, insofar as such losses, claims, damages or liabilities(or actions, proceedings or settlements in respect thereof) arise out of or are based upon any
of the following statements, omissions or violations (collectively a “Violation”): 
  

	 	(i)	any untrue statement or alleged untrue statement of a material fact contained in such Registration Statement, including any preliminary prospectus or final prospectus
contained therein or any amendments or supplements thereto; 

  

	 	(ii)	the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein, in light of the
circumstances in which they are made, not misleading; or 

  

	 	(iii)	any violation or alleged violation by the Company of the Applicable Securities Law, or any rule or regulation promulgated under the Applicable Securities Law;

 and the Company shall reimburse such Holder, partner, officer, director, employee, advisor, agent, underwriter
and controlling Person for any legal or other expenses reasonably incurred by them, as such expenses are incurred, in connection with investigating or defending any such loss, claim, damage, liability, action or proceeding; provided, however, that
the indemnity agreement contained in this Section 2.7(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability, action or proceeding if such settlement is effected without the consent of the Company (which
consent shall not be unreasonably withheld), nor shall the Company be liable in any such case for any such loss, claim, damage, liability, action or proceeding to the extent that it arises out of or is based upon (A) a Violation which occurs in
reliance upon and in conformity with written information furnished expressly for use in connection with such Registration by a Holder or any of their respective partners, officers, directors, 

  
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employees, advisors, agents, underwriters or controlling Persons or (B) delivery of a prospectus by a Holder who has received notice from the Company that the Registration Statement relating
thereto contains an untrue statement of a material fact or an omission of a material fact. 
 (b)
Indemnification by the Investors. To the extent permitted by law, each Holder shall, if Registrable Securities held by such Holder are included in the securities as to which such Registration, qualifications or compliance is being effected,
indemnify and hold harmless the Company, each of its employees, advisors, agents and directors, each of its officers who has signed the Registration Statement, each Person, if any, who controls the Company within the meaning of the Securities Act
and any underwriter, against any losses, claims, damages or liabilities (joint or several; or actions, proceedings or settlements in respect thereof) to which the Company or any such director, officer, legal counsel, controlling Person underwriter
may become subject under the Securities Act, the Exchange Act or other United States federal or state law, insofar as such losses, claims, damages or liabilities (or actions, proceedings or settlements in respect thereof) arise out of or are based
upon any of the following statements, omissions or Violation, in each case to the extent (and only to the extent) that such statement, omission or Violation occurs in sole reliance upon and in conformity with written information furnished by such
Holder, or its partners, officers, directors, employees, advisors, agents, underwriters or controlling Persons expressly for use in connection with such Registration: 
  

	 	(i)	untrue statement or alleged untrue statement of a material fact contained in such Registration Statement, including any preliminary prospectus or final prospectus
contained therein or any amendments or supplements thereto; or 

  

	 	(ii)	omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein, in light of the circumstances
in which they are made, not misleading, 

 and such Holder shall reimburse any legal or other expenses reasonably
incurred by the Company or any such employee, advisor, agent, director, officer, controlling Person or underwriter in connection with investigating or defending any such loss, claim, damage, liability, action or proceeding; provided, however, that
the indemnity agreement contained in this Section 2.7(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability, action or proceeding if such settlement is effected without the consent of such Holder, which
consent shall not be unreasonably withheld; and provided, further, that except for liability for willful fraud or misrepresentation, in no event shall any indemnity under this Section 2.7(b) exceed the net proceeds received by such Holder in
such Registration. For the avoidance of doubt, the obligations of the Holders under this Section 2.7(b) are several but not joint. 
 (c) Notice. Promptly after receipt by an indemnified party of notice of the commencement of any action (including any governmental action), such indemnified party shall, if a claim in respect
thereof is to be made against any indemnifying party, deliver to the indemnifying party a written notice of the commencement thereof and the 

  
 15 

 
indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense
thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party shall have the right to retain its own counsel, with the fees and expenses to be paid by the indemnifying party, as incurred, if representation
of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential conflict of interests between such indemnified party and any other party represented by such counsel in such proceeding.

 (d) Survival; Consents to Judgments and Settlements. The obligations of the Company and Holders under
this Section 2.7 shall survive the completion of any offering of Registrable Securities in a Registration Statement under this Section 2. No indemnifying party, in the defense of any such claim or litigation, shall, except with the consent
of each indemnified party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in
respect to such claim or litigation. 
 2.8 Rule 144 Reporting. With a view to making available to the Holders the
benefits of certain rules and regulations of the SEC which may at any time permit the sale of the Registrable Securities to the public without Registration or pursuant to a Registration on Form F-3 or S-3, as applicable, after such time as a public market exists for the Common Shares, the Company agrees to: 
 (a) Make and keep public information available, as those terms are understood and defined in Rule 144 under the Securities Act, at all times after the effective date of the first Registration under
the Securities Act filed by the Company for an offering of its securities to the general public; 
 (b) File
with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements); and 

(c) So long as a Holder owns any Registrable Securities, (x) to furnish to such Holder forthwith upon request
(i) a written statement by the Company as to its compliance with the reporting requirements of Rule 144 (at any time after ninety (90) days after the effective date of the Company’s initial public offering), the Securities Act
and the Exchange Act (at any time after it has become subject to such reporting requirements), or its qualification as a registrant whose securities may be resold pursuant to Form F-3 or S-3, as applicable (at any time after it so qualifies), (ii) a copy of the most recent annual or quarterly report of the Company and (iii) such other reports and documents of the Company as such Holder may
reasonably request in availing itself of any rule or regulation of the SEC that permits the selling of any such securities without Registration or pursuant to Form F-3 or
S-3, as applicable; and (y) to procure the removal of the legend on the restricted securities of the Company held by such Holder in connection with the resale by such Holder of such securities under Rule
144. 
 2.9 Termination. The Company shall have no obligations to register any Registrable Securities proposed to be sold
by any Holder after the earlier of (a) five (5) years following the 

  
 16 

 
closing of the IPO and (b) such time as pursuant to Rule 144 or another similar exemption under the Securities Act such Holder is able to sell all of its Registrable Securities without
Registration. In connection with the foregoing, if any Registrable Securities become eligible for sale pursuant to Rule 144(d) or no longer constitute “restricted securities” (as defined under Rule 144(a)), the Company shall,
upon the request of a Holder, promptly remove (or authorize the transfer agent to remove) any restrictive legend set forth in the certificates for such Common Shares. 
  

	3.	Miscellaneous. 

 3.1
Governing Law. This Agreement shall be governed by and construed under the Laws of the State of New York, without regard to principles of conflicts of law thereunder. 
 3.2 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
Facsimile and e-mailed copies of signatures shall be deemed to be originals for purposes of the effectiveness of this Agreement. 
 3.3 Notices. Any notice required or permitted pursuant to this Agreement shall be given in writing and shall be given either personally or by sending it by
next-day or second-day courier service, fax, electronic mail or similar means to such party. Where a notice is sent by next-day
or second-day courier service, service of the notice shall be deemed to be effected by properly addressing, pre-paying and sending by
next-day or second-day service through an internationally-recognized courier a letter containing the notice, with a confirmation of delivery, and to have been effected
at the expiration of two days after the letter containing the same is sent as aforesaid. Where a notice is sent by fax or electronic mail, service of the notice shall be deemed to be effected by properly addressing, and sending such notice through a
transmitting organization, with a written confirmation of delivery, and to have been effected on the day the same is sent as aforesaid. 
 3.4 Headings and Titles. Headings and titles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 

3.5 Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing
Party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such Party may be entitled. 
 3.6 Successors and Assigns. The registration rights granted to each Investor under this Agreement may be assigned (but only together with the related obligations) by such Investor to a transferee
of Registrable Securities that (i) is an Affiliate of such Investor, (ii) an immediate family member or trust for the benefit of such Investor (or its Affiliate), or (iii) after such transfer, holds at least 30% of the Registrable
Securities owned by such Investor as of the date hereof (subject to appropriate adjustments for stock splits, dividends, combinations or the like); provided, however, that (x) the Company is furnished with written notice of the name and address
of such transferee and the Registrable Securities with respect to which such rights are being transferred, and (y) such transferee agrees in a written instrument delivered to the Company to be bound by the terms and conditions of this
Agreement. 
 3.7 Entire Agreement; Amendments and Waivers. This Agreement (including any Schedules or Exhibits hereto)
constitutes the full and entire understanding and agreement among 

  
 17 

 
the Parties with regard to the subjects hereof and thereof, and supersedes all other agreements between or among any of the Parties with respect to the subject matter hereof. Any term of this
Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of both Parties. 

3.8 Severability. If a provision of this Agreement is held to be unenforceable under applicable Laws, such provision shall be
excluded from this Agreement and the remainder of the Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms. 

3.9 Further Assurances. The Parties agree to execute such further instruments and to take such further action as may be reasonably
necessary to carry out the intent of this Agreement. 
 3.10 Rights Cumulative. Each and all of the various rights,
powers and remedies of a party hereto will be considered to be cumulative with and in addition to any other rights, powers and remedies which such party may have at law or in equity in the event of the breach of any of the terms of this Agreement.
The exercise or partial exercise of any right, power or remedy will neither constitute the exclusive election thereof nor the waiver of any other right, power or remedy available to such party. 

3.11 No Waiver. Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof will not be deemed
a waiver of such term, covenant, or condition, nor will any waiver or relinquishment of, or failure to insist upon strict compliance with, any right, power or remedy power hereunder at any one or more times be deemed a waiver or relinquishment of
such right, power or remedy at any other time or times. 
 3.12 No Presumption. The Parties acknowledge that any
applicable Law that would require interpretation of any claimed ambiguities in this Agreement against the Party that drafted it has no application and is expressly waived. If any claim is made by a Party relating to any conflict, omission or
ambiguity in the provisions of this Agreement, no presumption or burden of proof or persuasion will be implied because this Agreement was prepared by or at the request of any Party or its counsel. 

[The remainder of this page has been intentionally left blank.] 

  
 18 

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

	
	
	/s/ Ellis Yan
	Ellis Yan
	
	/s/ Solomon Yan
	Solomon Yan

 
			
	
	LILLIAN YAN IRREVOCABLE STOCK TRUST
		
	By:	 	/s/ Ira Kaplan
		 	Ira Kaplan, Trustee
		
	By:	 	/s/ Valarie Campbell
		 	Valarie Campbell, Trustee
	
	TCP INTERNATIONAL HOLDINGS LTD.
		
	By:	 	/s/ Ellis Yan
		 	Ellis Yan, Chief Executive Officer

  
 19Exhibit 10.4 - CrudeOilPurchaseAgreementREDACTED

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Exhibit 10.4

CRUDE OIL PURCHASE AGREEMENT
by and between
DAKOTA OIL PROCESSING, LLC,
a North Dakota limited liability company
and
CALUMET LUBRICANTS CO., LIMITED PARTNERSHIP,
an Indiana limited partnership
June 17, 2014

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TABLE OF CONTENTS

Page
	
			
	ARTICLE I DEFINITIONS AND CONSTRUCTION
	1
	

	1.1 Definitions
	1
	

	1.2 Construction
	3
	

	ARTICLE II QUANTITY
	4
	

	2.1 Delivery Amounts
	4
	

	2.2 Disclaimer of Implied Warranties
	4
	

	ARTICLE III PRICING/TAXES
	5
	

	3.1 Delivery Amount Price
	5
	

	3.2 Adjustments
	5
	

	3.3 Taxes
	6
	

	3.4 Transportation
	6
	

	ARTICLE IV PAYMENT
	6
	

	4.1 General
	6
	

	4.2 Interest
	6
	

	4.3 Accounting Address
	7
	

	ARTICLE V TITLE WARRANTIES AND TRANSFER
	7
	

	5.1 Title Warranties and Transfer
	7
	

	ARTICLE VI MEASUREMENT
	7
	

	6.1 Measurement
	7
	

	6.2 Meters and Tests
	8
	

	ARTICLE VII TERM AND TERMINATION
	8
	

	7.1 Term
	8
	

	7.2 Suspension Rights
	8
	

	7.3 Termination Rights
	9
	

	ARTICLE VIII REPRESENTATIONS, WARRANTIES AND OTHER COVENANTS
	10
	

	8.1 Buyer Representations and Warranties
	10
	

	8.2 Supplier Representations and Warranties
	11
	

	8.3 Covenants
	12
	

	ARTICLE IX FINANCIAL COOPERATION
	12
	

	9.1 Financial Cooperation
	12
	

	ARTICLE X INDEMNIFICATION
	14
	

	10.1 Indemnification
	14
	

	10.2 Concurrent and Comparative Negligence
	14
	

	ARTICLE XI CONDITIONS
	14
	

	11.1 Agreements and Completion of Trenton Refinery
	14
	

	11.2 Execution of Sales Agreement
	14
	

	ARTICLE XII MISCELLANEOUS
	15
	

	12.1 Notices
	15
	

	12.2 Confidentiality
	15
	

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	12.3 Assignment
	16
	

	12.4 Force Majeure and Turnaround Events
	16
	

	12.5 Waiver
	17
	

	12.6 Entire Agreement
	17
	

	12.7 Severability
	17
	

	12.8 Audit
	17
	

	12.9 Safety
	18
	

	12.1 Business Practices
	18
	

	12.11 Governing Law; Consent to Jurisdiction
	18
	

	12.12 Entirety of Agreement and Amendments
	19
	

	12.13 Headings
	19
	

	12.14 Further Assurances
	19
	

	12.15 Time and Performance of the Essence
	19
	

	12.16 No Third Party Beneficiaries
	19
	

	12.17 Hazards and Risks
	19
	

	12.18 Specific Performance
	20
	

	12.19 Waiver of Jury Trial
	20
	

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CRUDE OIL PURCHASE AGREEMENT

THIS CRUDE OIL PURCHASE AGREEMENT (this "Agreement") effective as of June 17, 2014 (the "Effective Date"), is entered into between Dakota Oil Processing, LLC ("Buyer") and Calumet Lubricants Co., Limited Partnership ("Supplier"). Buyer and Supplier are sometimes collectively referred to herein as the "Parties" or individually as a "Party."

ARTICLE I 
DEFINITIONS AND CONSTRUCTION
1.1    Definitions. When used in the Agreement, the terms listed below and any grammatical variation thereof have the following meanings:
"Affiliate" means, with respect to any specified Person, any other Person that directly or indirectly through one or more intermediaries controls  or is controlled by, or is under common control with such specified Person. For the purposes of this definition,  "control" (including the correlative meetings, the terms "controlling, "controlled by" and "under the common control with "), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. 

"API" means the American Petroleum Institute.
 
"ASME" means the American Society of Mechanical Engineers.
    
"ASTM" means the American Society of Testing Materials.

"Barrel" means 42 U.S. gallons of 231 cubic inches per gallon corrected to 60 degrees Fahrenheit.

"BS&W" means basic sediment and water.

"Business Day" means any day other than a Saturday, a Sunday or a day on which banks in Trenton, North Dakota are authorized or required by Law to be closed. 

"Commencement Date" means the date on which the Trenton Refinery commences commercial operations.

"Day" means any complete 24-hour period during the term of this Agreement, commencing at 12:00 a.m. Mountain Standard Time on a given calendar day and ending at 11:59 p.m. Mountain Standard Time on the same calendar day.
"Deliver" and "Delivery" means the physical transfer of crude oil from the possession of Supplier to the possession of Buyer at the Delivery Point.

“Delivery Amount” shall have the meaning set forth in Section 2.1.

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"Delivery Amount Price" shall have the meaning set forth in Section 3.1(a).
 
"Delivery Month" means each complete monthly period during the term of this Agreement, commencing at 12:00 a.m. Mountain Standard Time on the first calendar Day of a given calendar month and ending at 11:59 a.m. Mountain Standard Time on the last calendar Day of the same calendar month.

"Delivery Point" means the inlet flange of the meter at the connection to the storage tanks located at the Trenton Refinery crude oil storage facility.

"Event of Default" shall mean any of the following:

(i)    failure of Buyer to make any payment within five (5) Business Days of when due under this Agreement;
(ii)    failure of Buyer to receive Delivery, where such failure is not due to Force Majeure;
(iii)    failure by Supplier to deliver the Nominated Volumes, up to the Delivery Amounts, for [ten (10)] consecutive calendar days beyond the time that such performance is due where such failure is not due to Force Majeure;
(iv)    failure by Supplier to provide financial cooperation pursuant to Section 9.1 of this Agreement;
(v)    a material breach by a Party of any other covenant or provision of this Agreement by such Party;
(vi)    initiation of proceedings (voluntarily or involuntarily) by or with respect to a Party under the bankruptcy or insolvency laws of any jurisdiction, which proceedings are not dismissed within sixty (60) calendar days after filing; written admission of inability to pay debts generally as they come due; the making of an assignment for the benefit of creditors; an application of reappointment of a receiver, custodian or trustee; or the passing of a resolution for winding up or liquidation by or on behalf of a Party; or
(vii)    any representation or warranty made in this Agreement by a Party being false or misleading in any material respect at the time it was made.
"Feedstock Fee" shall have the meaning set forth in Section 3.1(b).

"Force Majeure Event" means the occurrence of war, fire, flood, strike, lockout, or other labor trouble, interruption in supply of any raw material, accident, breakdown of equipment or machinery, failure of, interruptions to or contingences of transportation, unavailability of tank storage capacity, riot, act of Governmental Authority, act of God, or any contingency beyond the reasonable control of the affected Party; provided, (i) the event or circumstance is not within the reasonable control of the affected Party, is not the result of the fault or negligence of the affected Party and/or could not, by the exercise of due diligence, have been overcome or avoided by the affected Party and (ii) no economic event or 

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circumstance generally affecting the refining and marketing industry shall be considered a Force Majeure Event, except the imposition of any Taxes or other requirement(s) by a Governmental Authority. 

"Market Price" means, for a given Delivery Month, the actual amount which Supplier paid to a third party on an arms-length basis for the crude oil Delivered to Buyer during the calendar month for which such Delivery Month is referenced. Non-arm’s length deliveries shall not be permitted. 

"Notification of Commencement Date" means the written notification to be provided by Buyer to Supplier at least sixty (60) days prior to the date that Buyer anticipates, to the best of Buyer's knowledge and abilities, the Trenton Refinery will be capable of commencing to take the Initial Delivery Amount as set forth herein.

“Rail Lease Agreement” shall have the meaning provided in the Refined Products Agreement.

“Railcar Sublease Agreement” shall have the meaning provided in the Refined Products Agreement.

"Refined Products Purchase Agreement" means the Refined Products Purchase Agreement, dated the date hereof, between Buyer and Supplier.

"Rules" shall have the meaning set forth in Section 10.1(a).

"Shortfall Fees" shall have the meaning set forth in Section 3.1(c).

"Turnaround Event" means any significant planned outage at the Trenton Refinery.

"Year" means a period of 12 consecutive calendar months according to the Gregorian calendar, beginning on the first calendar day of the first such calendar month and ending on the last calendar day of the twelfth such calendar month.

1.2    Construction. This Agreement has been prepared jointly by the Parties with the advice and participation of counsel, and shall not be interpreted against one Party in favor of the other solely or partially on the basis of either Party being the drafter of this Agreement.
ARTICLE II      
QUANTITY
2.1    Delivery Amounts.
(a)    Delivery Amount and Nominations. Subject to the terms and conditions hereof, Buyer agrees to receive and purchase from Supplier, and Supplier agrees to sell and Deliver to Buyer at the Delivery Point, 20,000 Barrels of crude oil per Day (the " Delivery Amount") commencing on the specific Day identified by Buyer in Buyer's Notification of Commencement Date, which shall be a Day prior to the Commencement Date. Provided, however, notwithstanding the Delivery Amount, commencing on such Day identified by Buyer in the Notification of Commencement Date, and continuing each Day thereafter, Supplier shall Deliver to the Delivery Point, and Buyer shall take Delivery of and 

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pay the Delivery Amount Price for, the daily volume which will result in a total monthly volume equivalent to the Nominated Volume under Subsection 2.1(c), below.  
(b)    Monthly Average; Substantial Compliance.  Notwithstanding anything to the contrary in this Agreement, if Supplier delivers a volume which is up to 10% less than or up to 10% greater than the Nominated Volume divided by the number of days in the month applicable to said Nominated Volume, for any given day or days, and if Supplier timely delivers the total “Nominated Volume” (as defined below) for the month, such daily deliveries and such delivery of the Nominated Volume shall be deemed substantial compliance by Supplier, and shall not be a breach of this Agreement.
(c)    Nominations. The specific quantity of crude oil to be Delivered each month shall be determined as follows: 
(i)    For each month during the term of this Agreement, Buyer shall provide a preliminary nomination in writing by the 10th Day of the prior month and confirm Buyer's final nomination to Buyer in writing by the 15th day of the prior month of all volumes of crude oil to be purchased by Buyer during such month (the "Nominated Volume").
(ii)    Except as set forth in Section 12.4 or unless otherwise agreed in writing by the Parties, Supplier shall sell and Deliver, and Buyer shall purchase and receive, the Nominated Volume on a monthly basis. For the avoidance of doubt, in the event that the total monthly Nominated Volume is equivalent to less than the daily Initial Delivery Amount or the daily Subsequent Delivery Amount, as the case may be, and Supplier timely delivers such Nominated Volume in accordance with this Agreement, Supplier shall not be in breach of Section 2.1(a) or Section 2.1(b) of this Agreement for failure to supply either the Initial Delivery Amount or the Subsequent Delivery Amount.
(iii)    The schedulers for each of DOP and Calumet shall serve as the primary point of contact for communications between the Parties relating to the day-to-day performance of the Parties under this    Section 2.1(c). 
(d)    Delivery Point. Supplier shall deliver the Delivery Amounts to Buyer at the Delivery Point.
(e)    Quality Requirements. The Delivery Amounts shall meet the specifications set forth on Exhibit A.
2.2    Disclaimer of Implied Warranties. BUYER AND SUPPLIER EACH ACKNOWLEDGES THAT IT HAS ENTERED INTO THIS AGREEMENT BASED SOLELY ON THE EXPRESS REPRESENTATIONS, WARRANTIES, COVENANTS AND AGREEMENTS SET FORTH HEREIN AND, SUBJECT TO THE EXPRESS REPRESENTATIONS, WARRANTIES, COVENANTS AND
AGREEMENTS SET FORTH HEREIN, BUYER ACCEPTS ALL VOLUMES OF CRUDE OIL DELIVERED HEREUNDER "AS IS." EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT, SUPPLIER EXPRESSLY NEGATES AND DISCLAIMS, AS TO THE CRUDE OIL DELIVERED HEREUNDER, ANY OTHER REPRESENTATION, WARRANTY, COVENANT OR AGREEMENT, WRITTEN OR ORAL, EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE, INCLUDING WITHOUT LIMITATION, ANY REPRESENTATION OR WARRANTY WITH RESPECT TO 

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(A) CONDITION, QUALITY OR CONFORMITY TO MODELS OR SAMPLES, (B) MERCHANTABILITY, OR (C) FITNESS FOR A PARTICULAR PURPOSE.

ARTICLE III      
PRICING/TAXES
3.1    Delivery Amount Price.
(a)    Basic Calculation. The price to be paid by Buyer for each Barrel of the Delivery Amounts delivered to Buyer during a given Delivery Month shall be the Market Price during the Delivery Month (each month being, a "Delivery Amount Price").
(b)    Feedstock Fee. In addition, Buyer shall pay to Supplier $0.50 (fifty cents) per Barrel for each Barrel delivered during a Delivery Month. The Feedstock Fee shall be increased to $1.00 (one dollar) per Barrel delivered during a Delivery Month if Buyer exercises its option to adjust the Profit Split (as defined in the Refined Products Purchase Agreement) pursuant to and in accordance with the terms of Section 3.2 of the Refined Products Purchase Agreement.
(c)    Shortfall Fees. If Supplier fails to deliver to Buyer the Nominated Volume  for any given Delivery Month, Buyer shall be entitled to damages from Supplier in the form of a payment by Supplier or a credit for the benefit of Buyer of the amount which is equal to the difference between the Delivery Amount Price which Buyer would have paid if the Supplier had delivered the shortfall volume and the price Buyer actually paid a third party in an arms-length transaction for substitute Barrel, multiplied times the number of shortfall Barrels purchased by Buyer from the third party.   If Buyer fails to accept the Nominated Volume for any given Delivery Month, Supplier shall have the right, but not the obligation, to sell any unaccepted volumes to third parties and shall be entitled to damages from Buyer equal to the amount Supplier would have received under the terms of this Agreement for such unaccepted volumes, less the amount received from other purchasers of the unaccepted volumes in arms-length transactions, or third party storage fees incurred by Supplier, plus any reasonable actual costs and expenses incurred by Supplier in arranging sales to other purchasers or storage, as applicable.  In either case (non-performance by Supplier or Buyer), the Parties’ intent is that the non-breaching Party shall me made whole, but shall also take reasonable steps to mitigate the damages incurred.
3.2    Adjustments. The Delivery Amount Price for crude supplied shall be adjusted in accordance with Exhibit A.
3.3    Taxes. Buyer shall reimburse Supplier for all taxes imposed by federal, state or local governments, other than taxes on income, assessed on Supplier, directly or indirectly in connection with and occasioned by the transfer of title of Delivery Amounts delivered under this Agreement. If Buyer is entitled to purchase any such Delivery Amounts free of any tax (state or federal), Supplier shall furnish Buyer the proper exemption certificate.
3.4    Transportation. Buyer shall assume all cost and obligation to cause the Trenton Refinery to be connected to existing pipelines.

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ARTICLE IV      
PAYMENT
4.1    General.
(a)    Buyer Obligation. Except as expressly provided otherwise in this Agreement, Buyer shall pay Supplier, by wire transfer in immediately available funds no later than twenty (20) calendar days after the end of each Delivery Month, the Delivery Amount Price for each such Delivery Month, plus the applicable Feedstock Fees associated with the Delivery Amounts for said Delivery Month, less any applicable Shortfall Fees and any adjustments as provided for in Section 3.2. Buyer shall wire amounts due to Supplier’s bank account.
(b)    Weekends/Holidays. Notwithstanding Section 4.1(a), if the deadline for payment under such provisions falls on a Saturday or Sunday, or on a Day that is neither a Business Day nor a Saturday or Sunday, such deadline shall be deemed to have instead fallen on the immediately succeeding Business Day.
(c)    Notwithstanding the foregoing and except as expressly provided otherwise in this Agreement, during the first six (6) months from the Commencement date, Buyer shall pay Supplier, by wire transfer in immediately available funds no later than thirty (30) calendar days after the end of each Delivery Month, the Delivery Amount Price for each such Delivery Month, plus the applicable Feedstock Fees associated with the Delivery Amounts for said Delivery Month, less any applicable Shortfall Fees and any adjustments as provided for in Section 3.2.
4.2    Interest. Any payments that are more than thirty days past due under this Agreement shall bear interest at the rate of three percent (3%) per annum above the Prime Rate calculated daily from and including the date such amount is due pursuant to the Agreement, but excluding the date it is actually paid.
4.3    Accounting Address. All accounting documentation delivered pursuant to or in connection with this Agreement shall be delivered to the following addresses:
To Buyer:

Dakota Oil Processing, LLC  
2435 Highway 34, Suite 204  
Manasquan, NJ 08736
Attn: Steven Schneider or Tristram Collins

To Supplier:
Calumet Lubricants Co., Limited Partnership
2780 Waterfront Parkway East Drive, Suite 200
Indianapolis, Indiana 46214
Attn:  Accounts Receivable

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ARTICLE V     
TITLE WARRANTIES AND TRANSFER
5.1    Title Warranties and Transfer. Supplier warrants good title to the Delivery Amount delivered by it hereunder and agrees to indemnify and hold harmless Buyer from and against any and all loss, claim or demand by reason of any failure of such title to such Delivery Amount or failure or breach of this warranty. Prior to Delivery, Supplier shall be deemed to be in control and possession of and shall have title to and bear the risk of loss of and all shipping responsibility for, the Delivery Amount. From and after Delivery, Buyer shall be deemed to be in control and possession of, and shall have title to and bear the risk of loss of, the Delivery Amount.
ARTICLE VI     
MEASUREMENT
6.1    Measurement Method. Deliveries of the Delivery Amounts shall be measured by means of automatic custody transfer units as and when the Delivery Amounts are delivered to the Delivery Point. All tankage, trucking equipment and/or pipelines shall have certified gauge tables available to the receiving Party.
6.2    Meters and Tests.
(a)    Measurements in connection with this Agreement will be obtained using existing meters or such other meters as the Parties may mutually agree. All measurements hereunder shall be made from static tank gauges on 100% tank table basis or by positive displacement meters. All measurements and tests shall be made in accordance with the latest ASTM or ASME-API (petroleum PD Meter Code) published methods then in effect, whichever apply. Volume and gravity shall be adjusted to 60 degrees Fahrenheit by the use of the Petroleum Measurement Tables API 5A and 6A in its latest revision. Full deduction for all free water and BS&W content shall be made according to the API/ASTM Standard Method then in effect. The delivering Party shall be responsible for all pipeline carrier charges due to failure to meet the specifications required of such Party under this Agreement.
(b)    Either Party shall have the right to have a representative witness all meter provings, gaugings, samplings, tests and measurements. Each Party will provide not less than 48 hours notification (unless otherwise mutually agreed) to the other Party prior to conducting such activities. In the absence of the other Party's representative, such meter provings, gaugings, samplings, tests and measurements shall be deemed to be correct by the attendant representative.
ARTICLE VII     
TERM AND TERMINATION
7.1     Term. This Agreement shall commence as of 7:00 a.m. Mountain Standard Time on the Effective Date, and shall continue for five (5) years (the "Initial Term"). After the expiration of the Initial Term, the Agreement shall automatically renew for successive two year periods (the "Renewal Term"), unless either Party advises the other Party of its intent to terminate this Agreement in writing not less than one hundred twenty (120) days prior to the end of the Initial Term or the then current Renewal Term or unless otherwise terminated earlier in accordance with this Agreement. Termination of this Agreement shall not relieve any Party from any liability arising hereunder prior to such termination.

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7.2    Suspension Rights.
(a)    If an Event of Default occurs and is continuing, the non-defaulting Party may, by giving fifteen (15) calendar days' written notice, suspend its obligation to deliver Delivery Amounts hereunder or its obligation to purchase Delivery Amounts hereunder, as applicable. While deliveries of Delivery Amounts hereunder are suspended pursuant to this Section 7.2, Supplier shall have the right, but not the obligation, to sell any undelivered volumes to third parties and shall, if Supplier is the non-defaulting Party, be entitled to damages from Buyer equal to the amount it would have received under the terms of this Agreement for such undelivered volumes, less the amount received from other purchasers of the undelivered volumes in arms-length transactions, plus any reasonable actual costs and expenses incurred by Supplier in arranging sales to other purchasers. While any purchases of Delivery Amounts hereunder are suspended pursuant to this Section 7.2, Buyer may purchase Delivery Amounts from third parties and shall, if Buyer is the non-defaulting Party, be entitled to damages from Supplier equal to the amount paid to purchase the Delivery Amounts from other sellers in arms-length transactions, less the amount it would have paid for the Delivery Amounts under the terms of this Agreement, plus reasonable actual costs and expenses incurred by Buyer in arranging purchases from other sellers.
(b)    The right of the non-defaulting party to suspend performance under this Section 7.2 shall continue until the earlier of (i) the Event of Default is cured or (ii) this Agreement is terminated pursuant to Section 7.3.
(c)    An election by a Party to suspend performance under this Section 7.2 shall not preclude that Party from later electing to terminate this Agreement under Section 7.3.
7.3    Termination Rights.
(a)    If an Event of Default occurs and is continuing, the non-defaulting Party may give the defaulting Party written notice of such Event of Default. If the Event of Default is not cured within ten (10) calendar days after receipt of such notice, the non-defaulting Party, in addition to all other rights and remedies available to the non-defaulting Party and notwithstanding Section 7.1, shall be entitled to terminate this Agreement.
(b)    If this Agreement is terminated pursuant to this Section 7.3 the non-defaulting Party may provide the defaulting Party with a statement setting forth in reasonable detail the computation of (A) all amounts due and payable under this Agreement, including interest on any later payments, and (B) the amount of actual damages, losses or other directly related costs and expenses (including, but not limited to, reasonable attorney's fees and court costs) incurred by the non-defaulting Party arising out of or related to the Event of Default or the termination of this Agreement, excluding any punitive, consequential or indirect damages. In calculating such amounts, the non-defaulting Party may offset any sums due to the defaulting Party, whether hereunder or by reason of any other agreements or arrangements, against any amounts owed by the defaulting Party hereunder.
(c)    No later than five Business Days after receiving the statement from the non-defaulting Party pursuant to Section 7.3(b), the defaulting Party shall pay the non-defaulting Party the sum of the amount set forth in such statement.

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(d)    Neither Party shall be liable under this Agreement to the other Party for any punitive, consequential, special or indirect damages, in tort or contract or otherwise, as a result of or related to, any breach of or default under this Agreement.
(e)    Either Party may unilaterally terminate this Agreement at any time if such termination is required by any Governmental Authority.  Such termination shall be effective on the 30th day following the giving of written notice by a Party of its intent to terminate this Agreement pursuant to this Section 7.3(e).
(f)    This Agreement shall immediately terminate upon the termination of the Refined Products Purchase Agreement.
(g)    The rights and obligations created by this Section 7.3 shall survive the termination of this Agreement.
ARTICLE VIII     
REPRESENTATIONS, WARRANTIES AND OTHER COVENANTS
8.1    Buyer Representations and Warranties. Buyer represents and warrants to Supplier that as of the date of execution of this Agreement:
(d)    Buyer is a limited liability company duly organized, validly existing and in good standing under the laws of the State of North Dakota;
(e)    Buyer has all requisite power and authority to enter into and perform this Agreement;
(f)    the execution, delivery and performance of this Agreement and the transactions contemplated hereby have been duly authorized by Buyer;
(g)    this Agreement has been duly executed and delivered by Buyer and constitutes the legal, valid and binding obligation of Buyer, enforceable against Buyer in accordance with its terms, subject, however, to applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting creditors' rights generally and except as the enforceability thereof may be limited by general principles of equity (regardless of whether considered in a proceeding in equity or at law);
(h)    the execution, delivery, and performance by Buyer of this Agreement and the transactions contemplated hereby will not:
(i)    violate or conflict with any provision of Buyer's organizational documents (including articles of incorporation and bylaws),
(ii)    violate or constitute a default under any agreement or instrument to which Buyer is a party or by which Buyer is bound, which violation will have a material and adverse effect on Buyer's ability to perform its obligations hereunder,

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(iii)    violate any statute or law or any judgment, decree, order, regulation or rule of any court or governmental authority applicable to Buyer, which violation will have a material and adverse effect on Buyer's ability to perform its obligations hereunder, or
(iv)    except as otherwise provided for herein, require any consent, approval or authorization of, or designation, declaration or filing with, any governmental authority on the part of Buyer (except such governmental authorizations and filings as Buyer's performance of this Agreement from and after the date hereof may then require in the ordinary course of business), under any law or any agreements to which Buyer is a party or by which it is bound; and
(i)    there are no suits, judicial or administrative actions, proceedings or investigations (including, without limitation, bankruptcy, reorganization or insolvency actions, proceedings or investigations) pending against Buyer or its affiliates or, to Buyer's knowledge, threatened, that:
(i)    challenge the validity of this Agreement or the transactions contemplated hereby,
(ii)    seek to restrain or prevent any action taken or to be taken by Buyer in connection with this Agreement, or
(iii)    if adversely determined, would have a material and adverse effect upon Buyer's ability to perform its obligations hereunder.
8.2    Supplier Representations and Warranties. Supplier represents and warrants to Buyer that as of the date of execution of this Agreement:
(h)    Supplier is a limited partnership duly organized, validly existing and in good standing under the laws of the State of Indiana;
(i)    Supplier has all requisite power and authority to enter into and perform this Agreement;
(j)    the execution, delivery and performance of this Agreement and the transactions contemplated hereby have been duly authorized by Supplier;
(k)    this Agreement has been duly executed and delivered by Supplier and constitutes the legal, valid and binding obligation of Supplier, enforceable against Supplier in accordance with its terms, subject, however, to applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting creditors' rights generally and except as the enforceability thereof may be limited by general principles of equity (regardless of whether considered in a proceeding in equity or at law);
(l)    the execution, delivery, and performance by Supplier of this Agreement and the transactions contemplated hereby will not:
(i)    violate or conflict with any provision of Supplier' organizational documents (including certificate of formation and partnership agreement),

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(ii)    violate or constitute a default under any agreement or instrument to which Supplier is a party or by which Supplier is bound, which violation will have a material and adverse effect on Supplier's ability to perform its obligations hereunder,
(iii)    violate any statute or law or any judgment, decree, order, regulation or rule of any court or governmental authority applicable to Supplier, which violation will have a material and adverse effect on Supplier's ability to perform its obligations hereunder, or
(iv)    require any consent, approval or authorization of, or designation, declaration or filing with, any governmental authority on the part of Supplier (except such governmental authorizations and filings as Supplier's performance of this Agreement from and after the date hereof may then require in the ordinary course of business), under any law or any agreements to which Supplier is a party or by which it is bound; and
(m)    there are no suits, judicial or administrative actions, proceedings or investigations (including, without limitation, bankruptcy, reorganization or insolvency actions, proceedings or investigations) pending against Supplier or its affiliates or, to Supplier's knowledge, threatened that:
(i)    challenge the validity of this Agreement or the transactions contemplated hereby,
(ii)    seek to restrain or prevent any action taken or to be taken by Supplier in connection with this Agreement, or
(iii)    if adversely determined, would have a material and adverse effect upon Supplier's ability to perform its obligations hereunder.
8.3    Covenants. Each Party shall through the term of this Agreement:
(a)    preserve its corporate existence and good standing as necessary to perform its obligations hereunder;
(b)    comply in all material respects with all statutes and laws applicable to performance of this Agreement and with all judgments, decrees, orders, regulations and rules of any court or governmental authority applicable to performance of this Agreement;
(c)    give the other Party prompt written notice of the existence of any agreement or instrument to which the Party is a party or by which the Party is bound that may have a material and adverse effect in the Party's ability to perform its obligations hereunder; and
(d)    give the other Party prompt written notice of any pending or threatened suits, judicial or administrative actions, proceedings or investigations that may have a material and adverse effect on the Party's ability to perform its obligations hereunder.
ARTICLE IX     
FINANCIAL COOPERATION

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9.1    Financial Cooperation. Supplier shall provide such reasonable assistance and cooperation to Buyer as may be reasonably requested by Buyer to secure financing and permitting for the Trenton Refinery, provided that in no event shall Supplier or any of its affiliates be required to provide a guarantee or any other form of credit support for such financing or permitting. Supplier hereby consents to the collateral assignment of the Agreement to the providers of capital to construct the Trenton Refinery (the "Financing Parties"), as may be required. Supplier also agrees to enter into a consent to collateral assignment with the Financing Parties regarding the Agreement, containing obligations no more onerous on Supplier than this Agreement, in customary form and substance, including giving Supplier copies of certain notices delivered to Buyer in connection with the financing, and affording the Financing Parties an independent right to cure any Buyer default under the Agreement within specified time periods. Supplier shall furnish such certifications and representations, estoppel certificates, and legal opinions as may be reasonably requested by Financing Parties.
 
INDEMNIFICATION
9.2    Indemnification. Each Party (as such, the "Indemnitor") will indemnify, defend and hold harmless the other Party and its officers, directors, employees and agents from any against any and all claims, demands, causes of action, damages, liabilities, fines, penalties and expenses (including, without limitation, expenses of investigation, settlement, litigation and attorney's fees and costs incurred in connection therewith) arising out of or resulting from: (a) the negligence or willful misconduct of Indemnitor, its employees, agents, contractors or representatives; or (b) the Indemnitor's failure to comply with any applicable federal, state or local law, ordinance, permit, order, rule or regulation. If the event giving rise to the indemnification obligation of the Parties arises from the concurrent negligence or fault of both Parties (or their respective employees, agents, contractors or representatives), each Party's indemnification obligations shall be in proportion to the percentage of that Party's negligence or fault. The indemnity obligations described herein shall survive the expiration or termination of the Agreement.
9.3    Concurrent and Comparative Negligence.  THE INDEMNITY PROVIDED IN SECTION 10.1 SHALL REQUIRE INDEMNIFICATION FOR THE FULL AMOUNT OF CLAIMS, ACTIONS, LIABILITIES, LOSSES, COSTS AND EXPENSES, AS PROVIDED ABOVE, EVEN IN THE EVENT OF CONCURRENT NEGLIGENCE WITH A THIRD PARTY, EXCEPT IN THE EVENT THAT BOTH PARTIES’ OWN NEGLIGENCE OR WILLFUL ACT OR OMISSION (INCLUDING THAT OF THEIR AGENTS, EMPLOYEES OR CONTRACTORS) IS A CONCURRING CAUSE OF INJURY, DEATH OR DAMAGES, IN WHICH CASE THE OBLIGATION TO INDEMNIFY SHALL BE COMPARATIVE, AND EACH PARTY SHALL INDEMNIFY THE OTHER BASED UPON THE PERCENTAGE OF COMPARATIVE FAULT ATTRIBUTED TO EACH AS A CAUSE OF SUCH INJURY, DAMAGE OR DEATH.  
ARTICLE X      
CONDITIONS
All rights and obligations of the Parties hereto are expressly contingent upon the following:

10.1    Agreements and Completion of Trenton Refinery. Execution of final agreements required to close the financing for the Trenton Refinery, Buyer's successful permitting of the Trenton 

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Refinery, the completion of construction of the Trenton Refinery, and the completion of the infrastructure, equipment and other facilities reasonably necessary for the proper operation of the Trenton Refinery.
10.2    Execution of Sales Agreement.  All obligations of the Parties hereto are expressly contingent upon the execution of the Refined Products Purchase Agreement, the Railcar Sublease Agreement and the Rail Lease, and the Reserve Agreement.  
10.3    
10.4    Notices. Other than accounting documentation provided pursuant to this Agreement, Notices shall be in writing and may be given by delivering same by hand at, or by sending the same by facsimile, express delivery service or first class mail to, the relevant address set forth below or such other address as each Party may notify the other Party in writing from time to time. Such notice or communication shall be deemed to have been given when delivered, if by hand; when actually received, if by first class mail or express delivery service; and upon receipt by the sender of electronic confirmation of transmission, if by facsimile.
		
	To Buyer:
	Dakota Oil Processing, LLC  
2435 Highway 34, Suite 204  
Manasquan, NJ 08736

Attn: Steven Schneider or Tristram Collins

To Supplier:     Calumet Lubricants Co., Limited Partnership
2780 Waterfront Parkway East Drive, Suite 200
Indianapolis, Indiana 46214
Attn:  Vice President Business Development
m  

With a copy to:     Calumet Lubricants Co., Limited Partnership
 2780 Waterfront Parkway East Drive, Suite 200
             Indianapolis, Indiana 46214
                         Attn:  Legal Department
 

10.5    Confidentiality. Each Party agrees that it will maintain this Agreement, all parts and contents hereof, and any information or data received hereunder, in strict confidence, and that it will not cause or permit disclosure of same to any third party without the express written consent of the other Party. Notwithstanding the foregoing, disclosure by a Party is permitted in the event and to the extent that:
(a)    such Party is required by a court or agency exercising jurisdiction over the subject matter hereof, by order or by regulation, to make such a disclosure (provided, however, that in the event either Party becomes aware of judicial or administrative proceeding that has resulted or may result in such an order requiring disclosure, it shall

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(i)    so notify the other Party immediately,
(ii)    utilize all reasonably available means to limit the scope of the order or regulation requiring disclosure, and
(iii)    take all actions reasonably necessary to prevent disclosure to the public as a result of disclosure to the court or administrative body),
(b)    disclosure is required by law or regulation or order of governmental authority or by the rules of any stock exchange applicable to such Party or its affiliates, or as part of such Party's good faith attempt to comply with disclosure obligations under any of the same,
(c)    disclosure is to such Party's affiliates, attorneys, financial or lending institutions, outside auditors and insurers, provided that the person or entity to which such information is disclosed executes an agreement to hold it confidential, and
(d)    disclosure (other than with respect to 13.9) is to entities involved in the negotiation or bidding for the acquisition of a Party, its stock or assets, provided that the person or entity to which such information is disclosed executes an agreement to hold it confidential.
This Section 12.2 shall survive the termination of this Agreement.

10.6    Assignment. This Agreement shall extend to and be binding upon the Parties, their successors and assigns; provided, neither Party shall assign this Agreement without the written consent of the other Party, not to be unreasonably withheld, conditioned or delayed; provided that (a) Calumet may assign this Agreement to any of its Affiliates and (b) DOP may collaterally assign this Agreement to the lenders providing financing for the construction of the Trenton Refinery. Except for an assignment pursuant to subpart (a) or subpart (b) immediately above, each Party shall have the right to review and approve the creditworthiness of a proposed assignee as a condition to its consent.
10.7    Force Majeure and Turnaround Events. 
(a)    Force Majeure. If either Party is rendered unable, wholly or in part, by Force Majeure to perform its obligations hereunder, other than to make payments due hereunder, the affected Party shall give written notice to the other Party of such Force Majeure within forty-eight (48) hours after such failure to perform, and the obligations of the affected Party shall be suspended during the continuance and to the extent of the inability so caused, but for no longer period. In the event that any such period of suspension shall continue for a period of 60 continuous days in any Year, the Initial Term or Renewal Term, as applicable, shall be extended on a day-for-day basis for each day in excess of such 60 days. Notwithstanding the foregoing, in the event that any such period of suspension shall continue for a period of 90 consecutive days in any Year, then the non-affected Party may terminate this Agreement upon written notice to the other Party.  The Party suffering a Force Majeure Event shall use commercially reasonable efforts to (i) resolve such Force Majeure Event promptly and (ii) limit the impact of such Force Majeure Event on the transactions contemplated by this Agreement; provided, however, that neither Party shall be required to settle any strikes, lockouts, or other industrial disturbances in order to resolve or limit the impact of such Force Majeure Event.  The party claiming a Force Majeure Event shall provide regular updates regarding the Force Majeure Event to the other Party.  

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(b)    Turnaround Events. Prior to November 1 of each year, Buyer shall provide Supplier an estimate of all Turnaround Events expected to impact the Trenton Refinery during the following calendar year. Buyer shall periodically provide updates to Supplier regarding any anticipated Turnaround Events and, in any event, shall provide written notice to Supplier of any Turnaround Event at least 30 days in advance, including the volume impact in connection with such Turnaround Event. The Parties  obligations under Section 2.1(a), (b) and (c) shall be excused during any Turnaround Event if Buyer  has provided notice of such Turnaround Event pursuant to the immediately preceding sentence of this  Section 12.4(b). 
10.8    Waiver.   Failure of a Party to require performance of any provision of this Agreement shall not affect either Party’s right to full performance thereof at any time thereafter, and the waiver by any such Parties of a breach of any provision hereof shall not constitute a waiver of a similar breach in the future or of any other breach or nullify the effectiveness of such provision.
10.9    Entire Agreement. This Agreement contains the entire agreement of the parties for the purchase and sale of the Delivery Amounts and supersedes and replaces in its entirety all prior agreements regarding crude oil purchases and sales. No statement or agreement, oral or written, made before or at the signing hereof, shall be offered or used to vary or modify the written terms of this Agreement.
10.10    Severability. If and for so long as any provision of this Agreement shall be deemed or judged to be invalid for any reason whatsoever, such invalidity shall not affect the validity or operation of any other provisions of this Agreement except only so far as shall be necessary to give effect to the construction of such invalidity, and any such invalid provision shall be deemed severed from this Agreement without affecting the validity of the balance of this Agreement.
10.11    Audit. Each Party and its duly authorized representatives shall have access to the accounting records and other documents maintained by the other Party that relate to the Delivery Amounts sold under this Agreement, and shall have the right to audit such records at any reasonable time and from time-to-time prior to the third anniversary of the termination of this Agreement subject to the following conditions or restrictions:
(a)    the auditing Party shall furnish the other Party written notice at least thirty (30) Business Days prior to the date of the audit; 
(b)    the notice shall specify what accounting period, records and other documents the auditing Party desires to review and/or photocopy;
(c)    the audit shall be conducted at the offices of the Party being audited during the hours between 8:00 am and 5:00 pm on a Business Day;
(d)    a Party may not initiate an audit hereunder more often than once every two Years unless such additional audits are justified on the grounds of fraud or the occurrence of a catastrophic event;
(e)    the duration of an audit shall not exceed seven (7) Business Days unless matters revealed during such audit reasonably justify an extension of such time period;

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(f)    the documents, reports and records prepared in the audited Party's ordinary course of business shall be furnished in sufficient form to substantiate the volumes, deliveries and pricing of the transactions contemplated hereunder;
(g)    to the extent, if any, that the Party being audited must use internal or external accounting or electronic information systems person(s) to retrieve, produce or explain the documents and records requested, the auditing Party shall reimburse the other Party the full cost thereof;
(h)    photocopying shall be done at the expense of the auditing Party (but photocopying in violation of copyrights shall not be required);
(i)    the auditing Party shall be responsible for its own costs and expenses incurred in connection with the audit;
(j)    the audit shall be limited to no more than the three (3) Years immediately preceding the date of the request to audit; and
(k)    the auditing Party shall designate a single contact person from among the auditing personnel to be the person with whom the audited Party may limit its contacts.
10.12    Safety. Each Party agrees that its agents and employees will comply with all safety regulations of the other when such agents or employees are upon the premises of the other in connection with the performance of this Agreement.
10.13    Business Practices.
(a)    In the performance of this Agreement, each Party shall comply with all applicable governmental laws and regulations.
(b)    Each Party agrees that all financial settlements, billings, and reports rendered to the other Party as provided for in this Agreement and/or any amendments to it will, to the best of its knowledge and belief, reflect properly the facts about all activities and transactions related to this Agreement, which data may be relied upon as being complete and accurate in any further recording and reporting made by such other Party for whatever purpose.
(c)    Each Party agrees to notify the other Party promptly upon discovery of any instance where the notifying Party fails to comply with Section 12.10(a) above,
10.14    Governing Law; Consent to Jurisdiction.  The validity, performance, and enforcement of this Agreement and the transactions contemplated hereby, unless expressly provided to the contrary, shall be governed by the laws of the State of Texas without giving effect to the conflicts of law provision or rule (whether of the State of Texas or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Texas.  The Parties hereby irrevocably submit to the exclusive jurisdiction of the state and federal courts located in Denver, Colorado over any dispute arising out of or relating to this Agreement or any of the transactions contemplated hereby, and each Party irrevocably agrees that all claims in respect of such dispute or proceeding shall be heard and determined in such courts.  The Parties hereby irrevocably waive, to the fullest extent permitted by applicable Law, any objection which they may now or hereafter have to the venue of any dispute arising out of or relating 

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to this Agreement or any of the transactions contemplated hereby brought in such court or any defense of inconvenient forum for the maintenance of such dispute.  Each Party agrees that a judgment in any such dispute may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable Law.
10.15     Amendments.  Except as expressly provided otherwise in this Agreement, this Agreement may only be amended by a written instrument executed by authorized officers of the Parties specifically referencing this Agreement.
10.16    Headings. The Section headings used in this Agreement are for convenience only and shall not be construed as having any substantive significance or as indicating that all of the provisions of this Agreement relating to any topic are to be found in any particular Section.
10.17    Further Assurances. Each Party shall execute, acknowledge and deliver such other instruments or documents and shall take such other actions as may be necessary to carry out their respective obligations under this Agreement or to consummate or substantiate transactions contemplated by this Agreement.
10.18    Time and Performance of the Essence. Time and full performance hereunder by the Parties are of the essence of this Agreement.
10.19    No Third Party Beneficiaries. Other than with respect to permitted successors and assigns, nothing in this Agreement is intended to inure to the benefit of any third party and this Agreement shall not create any third party beneficiaries.
10.20    Hazards and Risks. Each Party acknowledges the hazards and risks in handling and using crude oil. Each Party shall advise its affiliates and its and their employees and third parties, who may purchase or come into contact with crude oil delivered under this Agreement, about the reasonable hazards and risks of crude oil, as well as precautionary procedures for handling such crude oil.
10.21    Specific Performance.  The Parties acknowledge and agree that either Party may be damaged irreparably in the event any of the provisions of this Agreement are not performed in accordance with their specific terms or otherwise are breached.  Accordingly, the Parties hereto agree that each Party shall be entitled to an injunction or injunctions to prevent breaches of the provisions of this Agreement and to enforce specifically this Agreement and the terms and provisions hereof in any action instituted in any state or federal court located within the State of Delaware, in addition to any other remedy to which they may be entitled, at law or in equity.
10.22    Waiver of Jury Trial.  EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT IT MAY LEGALLY AND EFFECTIVELY DO SO, TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING ARISING HEREUNDER.

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IN WITNESS WHEREOF, this Agreement has been executed by the Parties, effective as of the Effective Date.

	
		
	DAKOTA OIL PROCESSING, LLC
	CALUMET LUBRICANTS CO., LIMITED PARTNERSHIP

	 
	 

	By:   /s/ Tristram E. Collins
	By: Calumet LP GP, LLC, its general partner

	 
	 

	Name:   Tristram E. Collins
	By:   /s/ Jennifer Straumins   

	Title:   Chief Financial Officer
	 

	 
	Name:   Jennifer Straumins

	 
	Title:   President & COO

 

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Exhibit A
Specifications

NORTH DAKOTA - Williston Basin Sweet 

		
	•
	API gravity of between thirty nine (39°) 830 kg/m3 and forty-four and 9/10 degrees (44.9°) 800 kg/m3 at sixty degrees (60°) Fahrenheit;

		
	•
	Sulfur content  does not exceed .5% by weight;

		
	•
	Reid vapor pressure does not exceed 90 kilopascals;

		
	•
	basic sediment, water and other impurities does not exceed 0.5%, with a maximum of 0.3% free water;

		
	•
	iron in the Crude Petroleum  does not exceed seventy-five  parts per million (75 ppm) in whole crude as tested by EPA method  3040;

		
	•
	lead in the Crude Petroleum  does not exceed one-twentieth of one part per million (0.05 ppm) in naphtha  fraction as tested by EPA method  3040;

		
	•
	the Crude Petroleum  contains no organic chlorides; and

		
	•
	Hydrogen sulfide (H2S) vapor phase content of 5 parts per million or less. The method used to test H2S levels will be the Primary ASTM Test (method 05705).

Price Adjustment:

Less $(***) per barrel for each full degree API below 39.0°; less $(***) per barrel for each 0.1 degree API above 44.9°.

19

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