Document:

EX-10.2

 Exhibit 10.2 

PAR PETROLEUM CORPORATION 
 AWARD
OF RESTRICTED STOCK 
 (Special Award) 

In this Award, Par Petroleum Corporation (the “Company”) grants to
[name] (the “Participant”), a Director or an Employee, Restricted Stock under the Par Petroleum Corporation 2012 Long Term Incentive Plan (“Plan”). This Award of
Restricted Stock is governed by the terms of this Award document and the Plan. All capitalized terms not defined in this Award shall have the meaning of such terms as provided in the Plan.  

1. The “Date of Grant” is [            ]. 

2. The total number of shares of Restricted Stock granted is [            ].

 3. The Restricted Stock granted in this Award shall vest as follows: 

Subject to item 4 below, Participant shall not become vested in any of the Restricted Stock granted unless he or she is
continuously a Director of the Company or employed with the Company or a Company Affiliate from the Date of Grant through the Vesting Date, and Participant may not sell, assign, transfer, exchange, pledge, encumber, gift, devise, hypothecate or
otherwise dispose of any Restricted Stock until such Restricted Stock become Vested as provided herein. The transfer restrictions and substantial risk of forfeiture imposed in the foregoing sentence shall lapse on the following “Vesting
Dates” as to 50% of the Restricted Stock on the first anniversary of the Date of Grant and the remaining 50% on the second anniversary of the Date of Grant. The Restricted Stock as to which such restrictions so lapse are referred to as
“Vested.” 
 4. Other Vesting Events are as follows: 

Notwithstanding the foregoing vesting schedule in item 3, the Restricted Stock will be 100% Vested upon any one of the following
“Vesting Events”: (a) Participant’s termination as Director and Service due to death or Disability or termination of employment with the Company and its Affiliates due to death or Disability, (b) the
Participant’s termination of employment by the Company and its Affiliates without Cause or (c) upon a Change in Control. The date of the Participant’s termination of directorship and Service or termination of employment with the
Company and its Affiliates on account of one of the Vesting Events shall be the Vesting Date for purposes of this Award. The date of the Change in Control shall be the Vesting Date for purposes of this Award. 

5. Other Terms and Conditions: 

(a) No Fractional Shares. All provisions of this Award concern whole shares of Stock. If the application of any provision
hereunder would yield a fractional share, such fractional share shall be rounded down to the next whole share if it is less than 0.5 and rounded up to the next whole share if it is 0.5 or more. 

 (b) Not an Employment or Service Agreement. This Award is not an employment
agreement, and this Award shall not be, and no provision of this Award shall be construed or interpreted to create any right of Participant to continue as a Director or continue employment with or provide services to the Company or any of its
Affiliates. 
 (c) Independent Tax Advice and Acknowledgments. Participant has been advised and Participant hereby
acknowledges that he or she has been advised to obtain independent legal and tax advice regarding this Award, the grant of the Restricted Stock and the disposition of such shares, including, without limitation, the election available under
Section 83(b) of the Internal Revenue Code. Participant acknowledges receipt of a copy of the Plan and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts this Award subject to all the terms and
provisions of the Plan and this Award. 
 (d) The Committee has determined in connection with this Award that in the event
that a Section 83(b) election is not made, the Participant who is an Employee may elect to have the Company withhold that number of shares of Restricted Stock otherwise deliverable to the Participant when such shares become Vested or to deliver
to the Company a number of shares of Stock, in each case, having a Fair Market Value on the date of Vesting equal to the minimum amount required to be withheld for taxes as a result of such exercise. The election must be made in writing and must be
delivered to the Company prior to the date of Vesting. If the number of shares so determined shall include a fractional share, the Participant shall deliver cash in lieu of such fractional share. All elections shall be made in a form approved by the
Committee and shall be subject to disapproval, in whole or in part by the Committee. 
 The Restricted Stock granted hereunder will be
subject to all applicable federal, state and local taxes domestic and foreign and withholding requirements (including, without limitation, any withholding required under any other employee benefit plan maintained by the Company or a Company
Affiliate). The Participant hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Committee or the Board, as appropriate, upon any questions arising under the Plan or this Award. 

 

					
	PARTICIPANT: Name
		
	Signature:	 	  

	Date:	 	  

	
	PAR PETROLEUM CORPORATION
		
	By:	 	  

	Date:EX-10.3

 Exhibit 10.3 

PAR PETROLEUM CORPORATION 

NONSTATUTORY STOCK OPTION AGREEMENT 

(Special Award) 
 1. Grant
of Stock Option. As of             , (“the Grant Date”), Par Petroleum Corporation, a Delaware corporation (the “Company”), hereby grants a
Nonstatutory Stock Option (the “Option”) to [ Name ] (the “Optionee”), an Employee or Director of the Company, to purchase the number of shares of the Company’s common stock (the
“Stock”) identified below, subject to the terms and conditions of this agreement (the “Agreement”) and the Par Petroleum Corporation 2012 Long Term Incentive Plan (the “Plan”) which is hereby
incorporated herein in its entirety by reference and is attached as Exhibit A. The Option is not an “incentive stock option” as defined in Section 422 of the Internal Revenue Code. 

2. Definitions. All capitalized terms used herein shall have the meanings set forth in the Plan unless otherwise specifically
provided herein. 
 3. Option Term. The Option shall commence on the Grant Date and terminate on the date immediately prior to
the fifth (5th) anniversary of the Grant Date. The period during which the Option is in effect and may be exercised is referred to herein as the “Option Period.” 

4. Number of Shares of Stock and Option Price. The number of shares of Stock subject to this Option is
            . The “Option Price” per share of Stock is $            , which is the “Fair Market
Value,” as defined in the Plan, per share of Stock on the Grant Date. 
 5. Vesting. This Option may be exercised for the
total number of shares of Stock subject to this Option in accordance with the “Vesting Dates” as follows: 33.3% on the first anniversary of the Grant Date, and 33.3% on the second anniversary of the Grant Date and 33.4% on the third
anniversary of the Grant Date provided that the Optionee is continuously providing Services to the Company or a Company Affiliate through the applicable Vesting Date. The shares of Stock may be purchased at any time after they become vested, in
whole or in part, during the Option Period; provided, however, the Option may only be exercisable to acquire whole shares of Stock. The right of exercise provided herein shall be cumulative so that if the Option is not exercised to the maximum
extent permissible after vesting, the vested portion of the Option shall be exercisable, in whole or in part, at any time during the Option Period. 

6. Method of Exercise. The Option is exercisable by delivery of a written notice to the Secretary of the Company, at the address
for notices to the Company provided below, signed by the Optionee, specifying the number of shares of Stock to be acquired on, and the effective date of, such exercise. The Optionee may withdraw notice of exercise of this Option, in writing, at any
time prior to the close of business on the business day preceding the proposed exercise date. In this Award, the Committee has determined that the Optionee may elect to have withheld from the number of shares of Stock to be issued in connection with
the exercise the number of shares equal to the Option Price (a cashless exercise), provided that election shall be on a form as determined by the Committee and the Committee may in its sole discretion may disapprove of such election.  

 7. Restrictions on Exercise. The Option may not be exercised if the issuance of
such Stock or the method of payment of the consideration for such Stock would constitute a violation of any applicable federal or state securities or other laws or regulations, including any laws or regulations or Company policies respecting
blackout periods, or any rules or regulations of any stock exchange on which the Stock may be listed. 
 8. Termination of
Employment. Voluntary or involuntary termination of the Optionee as an Employee of the Company and its Affiliates or any successor thereto shall affect Optionee’s rights under the Option as provided in Section 9 of the Plan. 

9. Independent Legal and Tax Advice. Optionee acknowledges that the Company has advised Optionee to obtain independent legal and
tax advice regarding the grant and exercise of the Option and the disposition of any Stock acquired thereby. 
 10. No Rights in
Stock. Subject to the terms of the Plan, Optionee shall have no rights as a stockholder until the Optionee becomes the record holder of such Stock. 

11. Investment Representation. Optionee will enter into such written representations, warranties and agreements as Company may
reasonably request in order to comply with any federal or state securities law. Moreover, any stock certificate for any Stock issued to Optionee hereunder may contain a legend restricting their transferability as determined by the Company in its
discretion. Optionee agrees that Company shall not be obligated to take any affirmative action in order to cause the issuance or transfer of Stock hereunder to comply with any law, rule or regulation that applies to the Stock subject to the Option.

 12. No Guarantee of Employment or Services. The Option shall not confer upon Optionee any right to continued employment or
Services with the Company or any Company Affiliate. 
 13. Withholding of Taxes. The Option is subject to and the Company
shall have the right to take any action as may be necessary or appropriate to satisfy any federal, state, or local (foreign and domestic) tax and withholding obligations upon exercise of the Option. The Committee has determined in connection with
this Award, the Participant who is an Employee may elect to have the Company withhold that number of shares of Stock otherwise deliverable to the Participant upon the exercise of the Option or to deliver to the Company a number of shares of Stock,
in each case, having a Fair Market Value on the date of exercise equal to the minimum amount required to be withheld for taxes as a result of such exercise. The election must be made in writing and must be delivered to the Company prior to the date
of exercise. If the number of shares so determined shall include a fractional share, the Participant shall deliver cash in lieu of such fractional share. All elections shall be made in a form approved by the Committee and shall be subject to
disapproval, in whole or in part by the Committee. 
 14. General. 

(a) Notices. All notices under this Agreement shall be mailed or delivered by hand to the parties at their
respective addresses set forth beneath their signatures below or at such other address as may be designated in writing by either of the parties to one another. Notices shall be effective upon receipt. 

  
 2 

 (b) Nontransferability of Option. The Option granted pursuant to
this Agreement is not transferable other than by will or by the laws of descent and distribution or by a qualified domestic relations order (as defined in Section 4l4(p) of the Internal Revenue Code). The Option will be exercisable during
Optionee’s lifetime only by Optionee or by Optionee’s legal representative in the event of Optionee’s Disability. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities,
obligations or torts of Optionee. 
 (c) Amendment and Termination. No amendment, modification or termination
of the Option or this Agreement shall be made at any time without the written consent of Optionee and Company. 
 (d)
No Guarantee of Tax Consequences, Legal Consult. The Company and the Committee make no commitment or guarantee that any federal or state tax treatment will apply or be available to any person eligible for benefits under the Option. The
Optionee has been advised and been provided the opportunity to obtain independent legal and tax advice regarding this Award including, without limitation, with respect to the grant and exercise of the Option and the disposition of any Stock acquired
thereby. 
 (e) Severability. In the event that any provision of this Agreement shall be held illegal, invalid,
or unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of the Agreement, and the Agreement shall be construed and enforced as if the illegal, invalid, or unenforceable provision had
not been included herein. 
 (f) Supersedes Prior Agreements. This Agreement shall supersede and replace all
prior agreements and understandings, oral or written, between the Company and the Optionee regarding the grant of the Options covered hereby. 

(g) Governing Law. The Option shall be construed in accordance with the laws of the State of Delaware without
regard to its conflict of law provisions, to the extent federal law does not supersede and preempt Delaware law and venue shall be in Harris County, Texas. 

15. Counterparts: This Agreement may be executed in multiple original counterparts, each of which shall be deemed an original,
but all of which together shall constitute but one and the same instrument. 
 [SIGNATURE PAGE FOLLOWS] 

  
 3 

 IN WITNESS WHEREOF, the Company, as of the Grant Date has caused this Agreement to be executed on
its behalf by its duly authorized officer and Optionee has hereunto executed this Agreement as of the same date. 
  

					
	PAR PETROLEUM CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	OPTIONEE:
	
	  

	Signature
	
	  

	Printed Name
	Address:	 	  

		 		 	  

		 		 	  

  
 4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00233-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00233-of-00352.parquet"}]]