Document:

EX-10.9

 Exhibit 10.9

 
 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND
THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 
  
  

 
  
 TERMINAL SERVICES AGREEMENT 
 by and between 

PHILLIPS 66 CARRIER LLC 
 and 
 PHILLIPS 66 COMPANY 

for 

Hartford, Illinois, and Pasadena, Texas 
  

 
  

 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 TABLE OF CONTENTS 

 

							
	 Article I. Defined Terms
	  	 	1	  
			
	 Section 1.01
	 	Defined Terms.	  	 	1	  
	 Section 1.02
	 	Other Defined Terms.	  	 	5	  
	 Section 1.03
	 	Terms Generally.	  	 	5	  
		
	 Article II. Term
	  	 	6	  
			
	 Section 2.01
	 	Term.	  	 	6	  
	 Section 2.02
	 	Termination Following a Force Majeure Event.	  	 	6	  
	 Section 2.03
	 	Special Termination by Company.	  	 	6	  
	 Section 2.04
	 	Special Termination by Carrier.	  	 	6	  
	 Section 2.05
	 	Inventory Settlement.	  	 	6	  
	 Section 2.06
	 	Removal of Commodities.	  	 	7	  
		
	 Article III. Minimum Commitments
	  	 	7	  
			
	 Section 3.01
	 	Quarterly Truck Rack Commitment.	  	 	7	  
	 Section 3.02
	 	Minimum Ethanol Blending Commitment.	  	 	8	  
	 Section 3.03
	 	Minimum Biodiesel Blending Commitment.	  	 	9	  
	 Section 3.04
	 	Minimum Quarterly Pasadena Pumpover Commitment.	  	 	9	  
	 Section 3.05
	 	Loss of Available Capacity.	  	 	10	  
	 Section 3.06
	 	Partial Period Proration.	  	 	10	  
		
	 Article IV. Charges
	  	 	11	  
			
	 Section 4.01
	 	Scheduled Charges.	  	 	11	  
	 Section 4.02
	 	Recovery of Certain Costs.	  	 	11	  
	 Section 4.03
	 	Adjustments.	  	 	11	  
		
	 Article V. Storage of Commodities
	  	 	11	  
			
	 Section 5.01
	 	Commingled Storage.	  	 	11	  
		
	 Article VI. Redelivery of Commodities
	  	 	12	  
			
	 Section 6.01
	 	Redelivery of Commodities.	  	 	12	  
	 Section 6.02
	 	Negative Inventory.	  	 	12	  
		
	 Article VII. Commodity Quality
	  	 	12	  
			
	 Section 7.01
	 	Verification by Carrier.	  	 	12	  
	 Section 7.02
	 	Sampling by Company.	  	 	12	  
	 Section 7.03
	 	Non-Conforming Commodities.	  	 	13	  
		
	 Article VIII. Other Services
	  	 	13	  
			
	 Section 8.01
	 	Additive Injection.	  	 	13	  
	 Section 8.02
	 	Stevedoring.	  	 	13	  
	 Section 8.03
	 	Jet Fuel Handling.	  	 	14	  
	 Section 8.04
	 	Laboratory Fees and Services.	  	 	14	  
	 Section 8.05
	 	Hartford Pumpover.	  	 	15	  
	 Section 8.06
	 	Additional Services.	  	 	15	  

  
 i 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 

							
	 Article IX. Operating Hours; Terminal Access
	  	 	15	  
			
	 Section 9.01
	 	Operating Hours.	  	 	15	  
	 Section 9.02
	 	Terminal Access.	  	 	15	  
		
	 Article X. Storage Variations
	  	 	15	  
			
	 Section 10.01
	 	Storage Variations.	  	 	15	  
	 Section 10.02
	 	Loss Settlement.	  	 	16	  
		
	 Article XI. Monthly Statement; Payment; Liens
	  	 	16	  
			
	 Section 11.01
	 	Monthly Statement.	  	 	16	  
	 Section 11.02
	 	Payment.	  	 	16	  
	 Section 11.03
	 	Liens.	  	 	17	  
		
	 Article XII. Title; Custody
	  	 	17	  
			
	 Section 12.01
	 	Title.	  	 	17	  
	 Section 12.02
	 	Custody.	  	 	17	  
		
	 Article XIII. Volume Determinations
	  	 	18	  
			
	 Section 13.01
	 	Volume Determinations—General.	  	 	18	  
	 Section 13.02
	 	Terminal Receipts and Withdrawals.	  	 	18	  
		
	 Article XIV. Insurance
	  	 	19	  
			
	 Section 14.01
	 	Insurance.	  	 	19	  
		
	 Article XV. Taxes
	  	 	19	  
			
	 Section 15.01
	 	Taxes.	  	 	19	  
		
	 Article XVI. Health, Safety and Environment
	  	 	19	  
			
	 Section 16.01
	 	Spills; Environmental Pollution.	  	 	19	  
	 Section 16.02
	 	Inspection.	  	 	20	  
	 Section 16.03
	 	Marine Terminals Particulars Questionnaire.	  	 	20	  
	 Section 16.04
	 	Incident Notification.	  	 	20	  
	 Section 16.05
	 	Vessel Vetting.	  	 	21	  
		
	 Article XVII. Force Majeure
	  	 	21	  
			
	 Section 17.01
	 	Suspension during Force Majeure Events.	  	 	21	  
	 Section 17.02
	 	Obligation to Remedy Force Majeure Events.	  	 	21	  
	 Section 17.03
	 	Strikes and Lockouts.	  	 	22	  
	 Section 17.04
	 	Action in Emergencies.	  	 	22	  
		
	 Article XVIII. Notices
	  	 	22	  
			
	 Section 18.01
	 	Notices.	  	 	22	  
	 Section 18.02
	 	Effective upon Receipt.	  	 	22	  
		
	 Article XIX. Applicable Law
	  	 	22	  
			
	 Section 19.01
	 	Applicable Law.	  	 	22	  
		
	 Article XX. Limitation of Liability
	  	 	23	  

  
 ii 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 

							
	 Section 20.01
	 	No Liability for Consequential Damages.	  	 	23	  
	 Section 20.02
	 	Limitation of Liability.	  	 	23	  
		
	 Article XXI. Default
	  	 	23	  
			
	 Section 21.01
	 	Default.	  	 	23	  
	 Section 21.02
	 	Non-Exclusive Remedies.	  	 	23	  
	 Section 21.03
	 	Right to Terminate.	  	 	24	  
		
	 Article XXII. Public Use
	  	 	24	  
			
	 Section 22.01
	 	Public Use.	  	 	24	  
		
	 Article XXIII. Confidentiality
	  	 	24	  
			
	 Section 23.01
	 	Confidentiality.	  	 	24	  
		
	 Article XXIV. Miscellaneous
	  	 	24	  
			
	 Section 24.01
	 	Disputes between the Parties.	  	 	24	  
	 Section 24.02
	 	Assignment.	  	 	25	  
	 Section 24.03
	 	Partnership Change in Control.	  	 	25	  
	 Section 24.04
	 	No Third-Party Rights.	  	 	25	  
	 Section 24.05
	 	Compliance with Laws.	  	 	25	  
	 Section 24.06
	 	Severability.	  	 	26	  
	 Section 24.07
	 	Non-Waiver.	  	 	26	  
	 Section 24.08
	 	Entire Agreement.	  	 	26	  
	 Section 24.09
	 	Amendments.	  	 	26	  
	 Section 24.10
	 	Survival.	  	 	26	  
	 Section 24.11
	 	Counterparts; Multiple Originals.	  	 	26	  
	 Section 24.12
	 	Exhibits.	  	 	27	  
	 Section 24.13
	 	Table of Contents; Headings; Subheadings.	  	 	27	  
	 Section 24.14
	 	Construction.	  	 	27	  
	 Section 24.15
	 	Business Practices.	  	 	27	  
	 Section 24.16
	 	Right of First Refusal.	  	 	27	  
	 Section 24.17
	 	Right of First Offer.	  	 	27	  
	 Section 24.18
	 	Effect of Company Restructuring.	  	 	28	  
		
	 Exhibit A—Commodities
	  			
	 Exhibit B—Scheduled Charges
	  			
	 Exhibit C—Dispute Resolution Procedures
	  			

  
 iii

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 TERMINAL SERVICES AGREEMENT 

THIS TERMINAL SERVICES AGREEMENT is made and entered into as of the Effective Date by and between PHILLIPS 66 CARRIER LLC,
a Delaware limited liability company (“Carrier”), and PHILLIPS 66 COMPANY, a Delaware corporation (“Company”). 
 Recitals 
 WHEREAS, Carrier owns a certain terminal facility located
at 2105 South Delmar Avenue, Hartford, Illinois 62048 (the “Hartford Terminal”), which is suitable for receiving refined petroleum products, handling and storing such refined petroleum products, and delivering such refined
petroleum products into pipelines, barges and transport trucks; 
 WHEREAS, Carrier owns a certain terminal facility
located at 233 North Phillips Road, Pasadena, Texas 77506 (the “Pasadena Terminal”), which is suitable for receiving refined petroleum products, handling and storing such refined petroleum products, and delivering such
refined petroleum products into pipelines and transport trucks; and 
 WHEREAS, Company intends to deliver refined
petroleum products to the Hartford Terminal and the Pasadena Terminal and desires to have such refined petroleum products stored, handled and delivered into pipelines, barges or transport trucks, as applicable, and Carrier desires to provide such
services for Company, all upon the terms and conditions set forth in this Agreement. 
 NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, Carrier and Company agree as follows: 
 Article I. Defined Terms 
 Section 1.01 Defined Terms. 

The following definitions shall for all purposes, unless clearly indicated to the contrary, apply to the capitalized terms used in this Agreement:

  

	(a)	“Agreement” means this Terminal Services Agreement, together with all exhibits attached hereto, as the same may be extended, supplemented or restated from
time to time in accordance with the provisions hereof. 

  

	(b)	“Argus” means Argus Media Ltd. or any of its subsidiaries. 

  

	(c)	 “Banked Storage Gains” means, with respect to any Commodity and any Month, an amount equal to (i)(A) the average of the midpoint postings
published by Argus for the relevant Commodity at the nearest benchmark location on each publication day during that Month, multiplied by (B) a volume equal to the net Storage Gain of the relevant Commodity during that Month (taking into account

  
 1 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 

	 	
Storage Losses and Storage Gains at both Terminals and offsetting any Storage Gain of the relevant Commodity at one Terminal against any Storage Loss at the other Terminal), minus (ii) any
such amount previously applied to reduce a Loss Settlement pursuant to Section 10.02(b). 

  

	(d)	“Barrel” means 42 Gallons. 

  

	(e)	“Biodiesel Blending Deficiency Payment” has the meaning set forth in Section 3.03(b). 

 

	(f)	“Business Day” means any Day except for Saturday, Sunday or a legal holiday in Texas. 

 

	(g)	“Calendar Quarter” means a period of three consecutive Months beginning on the first Day of each of January, April, July and October.

  

	(h)	“Carrier” has the meaning set forth in the introductory paragraph. 

 

	(i)	“Carrier Affiliated Parties” means Carrier, Phillips 66 Partners LP and their respective contractors, and the directors, officers, employees and agents of
each of them. 

  

	(j)	“Claims” means any and all judgments, claims, causes of action, demands, lawsuits, suits, proceedings, governmental investigations or audits, losses,
assessments, fines, penalties, administrative orders, obligations, costs, expenses, liabilities and damages, including interest, penalties, reasonable attorneys’ fees, disbursements, costs of investigations, deficiencies, levies, duties and
imposts. 

  

	(k)	“Commitment” means the Minimum Quarterly Truck Rack Commitment, Minimum Quarterly Biodiesel Commitment, Minimum Quarterly Ethanol Commitment and Minimum
Quarterly Pasadena Pumpover Commitment, as applicable. 

  

	(l)	“Commodity” or “Commodities” means any of the commodities identified in Exhibit A. 

 

	(m)	“Company” has the meaning set forth in the introductory paragraph. 

 

	(n)	“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether
through ownership of voting securities, by contract, or otherwise. 

  

	(o)	“Day” means the period of time commencing at 0000 hours on one calendar day and running until, but not including, 0000 hours on the next calendar day,
according to local time at Houston, Texas. 

  

	(p)	“Effective Date” means the date of the closing of the initial public offering of common units representing limited partner interests of Phillips 66 Partners
LP. 

  
 2 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
  

	(q)	“Ethanol Blending Deficiency Payment” has the meaning set forth in Section 3.02(b). 

 

	(r)	“Force Majeure” means: (i) acts of God, fires, floods or storms; (ii) compliance with orders of courts or Governmental Authorities;
(iii) explosions, wars, terrorist acts or riots; (iv) inability to obtain or unavoidable delays in obtaining material or equipment; (v) accidental disruption of service; (vi) events or circumstances similar to the foregoing
(including inability to obtain or unavoidable delays in obtaining material or equipment and disruption of service provided by third parties) that prevent a Party’s ability to perform its obligations under this Agreement, to the extent that such
events or circumstances are beyond the Party’s reasonable control and could not have been prevented by the Party’s due diligence; (vii) strikes, lockouts or other industrial disturbances; and (viii) breakdown of refinery
facilities, machinery, storage tanks or pipelines irrespective of the cause thereof. 

  

	(s)	“Gallon” means a United States gallon of two hundred thirty-one cubic inches of liquid at 60o Fahrenheit, and at the equivalent vapor pressure of the
liquid. 

  

	(t)	“Governmental Authority” means any government, any governmental administration, agency, instrumentality or other instrumentality or other political
subdivision thereof or any court, commission or other governmental authority of competent jurisdiction. 

  

	(u)	“Hartford Dock” means that certain marine dock facility owned by Carrier and located at Mile 197.4 to 197.7 (left descending bank) of the Upper Mississippi
River in Madison County, Illinois. 

  

	(v)	“Hartford Terminal” has the meaning set forth in the Recitals. 

  

	(w)	“IIC” means a mutually acceptable independent inspection company. 

 

	(x)	“Initial Term” has the meaning set forth in Section 2.01. 

  

	(y)	“Kinder Morgan Terminal” means the terminal operated by Kinder Morgan, Inc., or an affiliate of Kinder Morgan, Inc., at 1420 North Witter Street, Pasadena,
Texas 77502. 

  

	(z)	“Law” means all constitutions, laws (including common law), treaties, statutes, orders, decrees, rules, injunctions, licenses, permits, approvals, agreements,
regulations, codes, ordinances issued by any Governmental Authority, including judicial or administrative orders, consents, decrees, and judgments, published directives, guidelines, governmental authorizations, requirements or other governmental
restrictions which have the force of law, and determinations by, or interpretations of any of the foregoing by any Governmental Authority having jurisdiction over the matter in question and binding on a given Person, whether in effect as of the date
hereof or thereafter and, in each case, as amended. 

  
 3 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
  

	(aa)	“Loss Settlement” has the meaning set forth in Section 10.02. 

 

	(bb)	“Minimum Quarterly Biodiesel Commitment” has the meaning set forth in Section 3.03(a). 

 

	(cc)	“Minimum Quarterly Ethanol Commitment” has the meaning set forth in Section 3.02(a). 

 

	(dd)	“Minimum Quarterly Pasadena Pumpover Commitment” has the meaning set forth in Section 3.04(a). 

 

	(ee)	“Minimum Quarterly Truck Rack Commitment” has the meaning set forth in Section 3.01(a). 

 

	(ff)	“Month” or “Monthly” means a calendar month commencing at 0000 hours on the first Day thereof and running until, but not including, 0000 hours on
the first Day of the following calendar month, according to local time at Houston, Texas. 

  

	(gg)	“Non-Conforming Commodity” means any Commodity that fails to meet specifications established by Carrier for pipeline transportation of that Commodity (or in
the absence of Carrier specifications, specifications established by Phillips 66 Pipeline LLC for such Commodity). 

  

	(hh)	“Normal Business Hours” means the period of time commencing at 0800 hours on one Day and running until 1700 hours on the same Day, according to local time at
Houston, Texas. 

  

	(ii)	“Notice” means any notice, request, instruction, correspondence or other communication permitted or required to be given under this Agreement.

  

	(jj)	“Parties” means Carrier and Company, collectively. 

  

	(kk)	“Partnership Change in Control” means Phillips 66 ceases to Control the general partner of Phillips 66 Partners LP. 

 

	(ll)	“Party” means Carrier or Company, individually. 

  

	(mm)	“Pasadena Pumpover Deficiency Payment” has the meaning set forth in Section 3.04. 

 

	(nn)	“Pasadena Terminal” has the meaning set forth in the Recitals. 

  

	(oo)	“Person” means, without limitation, an individual, corporation (including a non-profit corporation), general or limited partnership, limited liability
company, joint venture, estate, trust, association, organization, labor union, or other entity or Governmental Authority, and shall include any successor (by merger or otherwise) of such entity. 

  
 4 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
  

	(pp)	“PPI-FG” has the meaning set forth in Section 4.03. 

  

	(qq)	“Proportionate Share” has the meaning set forth in Section 10.01. 

 

	(rr)	“Renewal Term” has the meaning set forth in Section 2.01. 

  

	(ss)	“Regular Terminal Operating Hours” means 24 hours per Day, 7 Days per week. 

 

	(tt)	“Scheduled Charges” means those charges payable by Company for the services provided by Carrier hereunder, as set forth in Exhibit B.

  

	(uu)	“Storage Gain” has the meaning set forth in Section 10.01. 

  

	(vv)	“Storage Loss” has the meaning set forth in Section 10.01. 

  

	(ww)	“Storage Variation” has the meaning set forth in Section 10.01. 

 

	(xx)	“Sweeny Refinery” means the refinery owned and operated by Company at Old Ocean, Texas. 

 

	(yy)	“Tanks” means the storage tanks and all appurtenant and associated pipelines and pumps used in connection with the storage and handling of Company’s
Commodities at a Terminal. 

  

	(zz)	“Taxes” means any income, sales, use, excise, transfer, and similar taxes, fees and charges (including ad valorem taxes), including any interest or penalties
attributable thereto, imposed by any Governmental Authority. 

  

	(aaa)	“Terminal” or “Terminals” means the Hartford Terminal and/or the Pasadena Terminal, as applicable. 

 

	(bbb)	“Truck Rack Deficiency Payment” has the meaning set forth in Section 3.01. 

 

	(ccc)	“Wood River Refinery” means the refinery owned by WRB Refining LP and operated by Company at Roxana, Illinois. 

Section 1.02 Other Defined Terms. 

Other terms may be defined elsewhere in this Agreement, and, unless otherwise indicated, shall have such meanings throughout this Agreement. 

Section 1.03 Terms Generally. 
 The
definitions in this Agreement shall apply equally to both singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The word
“include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” All references to Articles, Sections and Exhibits shall be deemed to be references to Articles and
Sections of, and Exhibits to, this Agreement unless the context requires otherwise. 

  
 5 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Article II. Term 

Section 2.01 Term. 
 This Agreement
shall have a primary term commencing on the Effective Date and ending June 30, 2018 (the “Initial Term”), and may be renewed by Company, at Company’s sole option, for up to three successive renewal terms, each with
a duration of five years (each, a “Renewal Term”), upon 180 Days’ written Notice from Company to Carrier prior to the end of the Initial Term or any Renewal Term. The Initial Term and Renewal Terms, if any, shall be
referred to in this Agreement as the “Term.” 
 Section 2.02 Termination Following a Force Majeure Event. 

If a Force Majeure event prevents Carrier or Company from performing its respective obligations under this Agreement for a period of more than 12
consecutive Months, this Agreement may be terminated by either Party at any time after the expiration of such 12-Month period on 30 Days’ Notice to the other Party. 
 Section 2.03 Special Termination by Company. 
 If (a) Company determines to
suspend refinery operations at the Sweeny Refinery or (b) WRB Refining LP determines to suspend refinery operations at the Wood River Refinery, in either case, for a period of at least 12 consecutive Months, the Parties will negotiate in good
faith to agree upon a reduction of the applicable Commitment(s) to reflect such suspension of operations. If the Parties are unable to agree to an appropriate reduction of the applicable Commitments(s), then after Company or WRB Refining LP (as the
case may be) has made a public announcement of such suspension, Company may provide written Notice to Carrier of its intent to terminate this Agreement and this Agreement will terminate 12 Months following the date such Notice is received by
Carrier. 
 Section 2.04 Special Termination by Carrier. 
 If Carrier’s use of all or part of a Terminal for the storage and handling of any Commodity shall be restrained or enjoined by judicial process, or restricted or terminated by any Governmental
Authority, by right of eminent domain or by the owner of leased land, Carrier, upon being notified of such restraint, enjoinder, restriction or termination, shall notify Company and the applicable Commitment(s) shall be reduced to the extent that
Carrier’s use of the applicable Terminal is so restrained, enjoined, restricted or terminated. 
 Section 2.05 Inventory
Settlement. 
 Upon expiration or termination of this Agreement, any outstanding inventory imbalance on Company’s account must be
eliminated within 60 Days of termination and will be settled, for each Commodity, at Argus’s Monthly average price for that Commodity for the Month prior to the effective date of such expiration or termination. 

  
 6 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Section 2.06 Removal of Commodities. 

 

	(a)	Company shall remove all of its Commodities from both Terminals no later than the later of (i) the effective date of the termination or expiration of this
Agreement, or (ii) ten Days after receipt of Notice to terminate this Agreement in accordance with its terms, provided that Carrier may, in its sole discretion, agree in writing to extend the time for such removal. If, at the end of such
period, Company has not removed all of its Commodities, then in addition to any other rights it may have under this Agreement, Carrier shall have the right to take possession of such Commodities and sell them at public or private sale. In the event
of such a sale, Carrier shall withhold from the proceeds therefrom all amounts owed to it hereunder and all expenses of sale (including but not limited to reasonable attorneys’ fees and any amounts necessary to discharge any and all liens
against the Commodities). The balance of the proceeds, if any, shall be remitted to Company. 

  

	(b)	Should any Commodity remain in any Tank(s) beyond the expiration or termination of this Agreement, Company shall remain obligated to perform all of the terms and
conditions set forth in this Agreement and, in addition, shall pay an additional Holdover Fee per Barrel per Month or partial Month, as applicable, determined in accordance with Exhibit B, until all Commodities are removed. 

 

	(c)	Company shall indemnify and hold the Carrier Affiliated Parties harmless from and against all Claims arising from or related to Company’s failure to remove any
Commodities in accordance with this Section 2.06 or Carrier’s exercise of its right to take possession of Company’s Commodities and sell the same in accordance with this Section 2.06. 

Article III. Minimum Commitments 
 Section 3.01 Quarterly Truck Rack Commitment. 
  

	(a)	During each Calendar Quarter, Company shall tender a combined average of at least 55,000 Barrels per Day of Commodities for delivery at the Hartford Terminal truck rack
and the Pasadena Terminal truck rack, in approximately ratable quantities (such combined average, the “Minimum Quarterly Truck Rack Commitment”) at the “Base Throughput Fee” determined in accordance with Exhibit B,
and Carrier shall accept, store and redeliver such Commodities in accordance with the terms of this Agreement. 

  

	(b)	If Company fails to meet its Minimum Quarterly Truck Rack Commitment during any Calendar Quarter, then Company will pay Carrier a deficiency payment (each, a
“Truck Rack Deficiency Payment”) equal to the volume of the deficiency multiplied by the “Base Throughput Fee” determined in accordance with Exhibit B. 

 

	(c)	 The dollar amount of any Truck Rack Deficiency Payment paid by Company may be applied as a credit against any amounts incurred by Company and owed to

  
 7 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 

	 	
Carrier with respect to volumes of Commodities delivered through the Hartford Terminal truck rack and the Pasadena Terminal truck rack in excess of Company’s Minimum Quarterly Truck Rack
Commitment (or, if this Agreement expires or is terminated, to volumes that would have been in excess of Company’s Minimum Quarterly Truck Rack Commitment if this Agreement were still in effect) during any of the succeeding four Calendar
Quarters, after which time any unused credits will expire. This Section 3.01(c) shall survive the expiration or termination of this Agreement. 

  

	(d)	Carrier shall provide truck rack capacity in addition to Company’s Minimum Quarterly Truck Rack Commitment on an “as available” basis, at the “Base
Throughput Fee” determined in accordance with Exhibit B. 

 Section 3.02 Minimum Ethanol Blending Commitment.

  

	(a)	During each Calendar Quarter, Company shall tender for blending with gasoline, and Carrier shall blend, a volume of ethanol equal to 10% of the total volume of
Company’s blended gasoline delivered at the Pasadena Terminal truck rack during such Calendar Quarter, in approximately ratable quantities (such volume, the “Minimum Quarterly Ethanol Commitment”), and for each Barrel of
ethanol blended into gasoline, Company shall pay the “Ethanol Blending” fee determined in accordance with Exhibit B. Company shall provide any ethanol required for Carrier to discharge its obligations under this Section 3.02.

  

	(b)	If Company fails to meet its Minimum Quarterly Ethanol Commitment during any Calendar Quarter, then Company will pay Carrier a deficiency payment (each, an
“Ethanol Blending Deficiency Payment”) in an amount equal to the volume of the deficiency multiplied by the “Ethanol Blending” fee determined in accordance with Exhibit B. 

 

	(c)	The dollar amount of any Ethanol Blending Deficiency Payment paid by Company may be applied as a credit against any amounts incurred by Company and owed to Carrier with
respect to volumes of ethanol blended in excess of Company’s Minimum Quarterly Ethanol Commitment (or, if this Agreement expires or is terminated, to volumes that would have been in excess of Company’s Minimum Quarterly Ethanol Commitment
if this Agreement were still in effect) during any of the succeeding four Calendar Quarters, after which time any unused credits will expire. This Section 3.02(c) shall survive the expiration or termination of this Agreement.

  

	(d)	Carrier shall provide ethanol blending services in addition to Company’s Minimum Quarterly Ethanol Commitment on an “as available” basis, at the
“Ethanol Blending” fee determined in accordance with Exhibit B. 

  

	(e)	Carrier’s and Company’s obligations under this Section 3.02 shall terminate immediately upon any change of Law that results in Company no longer being
required to blend renewable fuel into gasoline offered for sale in the United States. 

  
 8 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Section 3.03 Minimum Biodiesel Blending Commitment. 

 

	(a)	During each Calendar Quarter, Company shall tender for blending with diesel fuel, and Carrier shall blend, a volume of biodiesel equal to 5% of the total volume of
Company’s blended diesel fuel delivered at the Hartford Terminal truck rack and the Pasadena Terminal truck rack during such Calendar Quarter, in approximately ratable quantities (such volume, the “Minimum Quarterly Biodiesel
Commitment”), and for each Barrel of biodiesel blended into diesel fuel, Company shall pay the “Biodiesel Blending” fee determined in accordance with Exhibit B. Company shall provide any biodiesel required for Carrier to
discharge its obligations under this Section 3.03. 

  

	(b)	If Company fails to meet its Minimum Biodiesel Commitment during any Calendar Quarter, then Company will pay Carrier a deficiency payment (each, a “Biodiesel
Blending Deficiency Payment”) in an amount equal to the volume of the deficiency multiplied by the “Biodiesel Blending” fee determined in accordance with Exhibit B. 

 

	(c)	The dollar amount of any Biodiesel Blending Deficiency Payment paid by Company may be applied as a credit against any amounts incurred by Company and owed to Carrier
with respect to volumes of biodiesel blended in excess of Company’s Minimum Quarterly Biodiesel Commitment (or, if this Agreement expires or is terminated, to volumes that would have been in excess of Company’s Minimum Quarterly Biodiesel
Commitment if this Agreement were still in effect) during any of the succeeding four Calendar Quarters, after which time any unused credits will expire. This Section 3.03(c) shall survive the expiration or termination of this Agreement.

  

	(d)	Carrier shall provide biodiesel blending capacity in addition to Company’s Minimum Quarterly Biodiesel Commitment on an “as available” basis, at the
“Biodiesel Blending” fee determined in accordance with Exhibit B. 

  

	(e)	Carrier’s and Company’s obligations under this Section 3.03 shall terminate immediately upon any change of Law that results in Company no longer being
required to blend renewable fuel into diesel fuel offered for sale in the United States. 

 Section 3.04 Minimum Quarterly
Pasadena Pumpover Commitment. 
  

	(a)	During each Calendar Quarter, Company shall tender at the Pasadena Terminal for onward transportation via pipeline to the Kinder Morgan Terminal or any other
destination at least a combined average of 135,000 Barrels per Day of Commodities, in approximately ratable quantities (such average, the “Minimum Quarterly Pasadena Pumpover Commitment”). For pumpover services to any
pipeline other than the pipeline to the Kinder Morgan Terminal (which service is governed by one of Carrier’s tariffs), Company shall pay Carrier at a rate equal to the “Pasadena Pumpover Fee” determined in accordance with Exhibit B.

  
 9 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
  

	(b)	If Company fails to meet its Minimum Quarterly Pasadena Pumpover Commitment during any Calendar Quarter, then Company will pay Carrier a deficiency payment (each, a
“Pasadena Pumpover Deficiency Payment”) equal to the volume of the deficiency multiplied by the “Pasadena Pumpover Fee” determined in accordance with Exhibit B. 

 

	(c)	The dollar amount of any Pasadena Pumpover Deficiency Payment paid by Company may be applied as a credit against any amounts incurred by Company and owed to Carrier
with respect to volumes of Commodities delivered through the Pasadena Terminal in excess of Company’s Minimum Quarterly Pasadena Pumpover Commitment (or, if this Agreement expires or is terminated, to volumes that would have been in excess of
Company’s Minimum Quarterly Pasadena Pumpover Commitment if this Agreement were still in effect) during any of the succeeding four Calendar Quarters, after which time any unused credits will expire. This Section 3.04(c) shall survive the
expiration or termination of this Agreement. 

  

	(d)	Carrier shall provide pumpover services to any pipeline other than the pipeline to the Kinder Morgan Terminal (which service is governed by one of Carrier’s
tariffs) in addition to Company’s Minimum Quarterly Pasadena Pumpover Commitment on an “as available” basis, at the “Pasadena Pumpover Fee” determined in accordance with Exhibit B. 

Section 3.05 Loss of Available Capacity. 
 If the capacity of a Terminal or blending facility falls below the level of Company’s Minimum Quarterly Truck Rack Commitment, Minimum Quarterly Ethanol Commitment, Minimum Quarterly Biodiesel
Commitment or Minimum Quarterly Pasadena Pumpover Commitment at any time and for any reason (other than outages caused by Carrier’s planned maintenance), such Commitment shall be proportionately reduced for such time that capacity of such
Terminal or such blending facility is less than such Commitment. 
 Section 3.06 Partial Period Proration. 

 

	(a)	If the Effective Date is any Day other than the first Day of a Calendar Quarter, or if this Agreement is terminated on any Day other than the last Day of a Calendar
Quarter, then any calculation determined with respect to a Calendar Quarter will be prorated by a fraction, the numerator of which is the number of Days in that part of the Calendar Quarter beginning on the Effective Date or ending on the Day of
such termination, as the case may be, and the denominator of which is the number of Days in the Calendar Quarter. 

  

	(a)	 If the Effective Date is any Day other than the first Day of a Month, or if this Agreement is terminated on any Day other than the last Day of a Month,
then any 

  
 10 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 

	 	
quantity based on a Monthly determination will be prorated by a fraction, the numerator of which is the number of Days in that part of the Month beginning on the Effective Date or ending on the
Day of such termination, as the case may be, and the denominator of which is the number of Days in the Month. 

Article IV. Charges 

Section 4.01 Scheduled Charges. 

As compensation to Carrier for the services provided by it hereunder, Company shall pay to Carrier the Scheduled Charges determined in accordance with
Exhibit B. 
 Section 4.02 Recovery of Certain Costs. 

 

	(a)	If Carrier agrees to make any capital expenditures at Company’s request, Company will reimburse Carrier for the actual amount paid by Carrier for such capital
expenditures or, at Carrier’s option and if the Parties agree, any applicable fees set forth on Exhibit B will be increased, or additional fees shall be added to Exhibit B, or an alternate mechanism shall be adopted to allow Carrier to recover
the amount paid by Carrier for such capital expenditures over time. 

  

	(b)	If new Laws require Carrier to make substantial and unanticipated expenditures in connection with the services Carrier provides to Company under this Agreement, Company
will reimburse Carrier for Company’s proportionate share of the costs of complying with such Laws, or at Carrier’s option and if the Parties agree, relevant periodic or unit charges will be increased or an alternate mechanism shall be
adopted to allow Carrier to recover such costs over time. 

 Section 4.03 Adjustments. 

As of January 1, 2014, and as of January 1 of each year thereafter while this Agreement is in effect, Carrier may adjust each of the fees set
forth on Exhibit B annually, by a percentage equal to the greater of zero or the positive change in the Producer Price Index for Finished Goods (Series ID WPUSOP3000) (such Index, the “PPI-FG”) as reported during the Month of
October immediately before the effective date of the adjustment and with respect to the 12-Month period ending at the Month of September immediately preceding such publication, provided that if, with respect to any such 12-Month period or
periods, the PPI-FG has decreased, Carrier may adjust such fees only to the extent that the percentage change in the PPI-FG since the most recent previous upward adjustment in such fees is greater than the aggregate amount of the cumulative
decreases in the PPI-FG during the intervening period or periods. 
 Article V. Storage of Commodities 

Section 5.01 Commingled Storage. 

Carrier is not required to store Company’s Commodities in dedicated storage. Each Commodity may be stored in commingled storage in a Tank at a
Terminal with a Commodity belonging to another Person, provided that any Commodity belonging to 

  
 11 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 
another Person and commingled with a Commodity belonging to Company shall meet or exceed specifications established by Carrier for pipeline transportation of that Commodity (or in the absence of
Carrier specifications, specifications established by Phillips 66 Pipeline LLC for such Commodity) in effect on the date of receipt of Company’s Commodity. Carrier shall not commingle Company’s Commodity with any other Commodity that does
not meet such minimum Commodity specifications. 
 Article VI. Redelivery of Commodities 

Section 6.01 Redelivery of Commodities. 
 Company shall provide any documentation reasonably required by Carrier to authorize withdrawals by or on behalf of Company from a Terminal. Upon redelivery of Commodities to Company or its designated
carrier or customer, Carrier shall have no further responsibility for any Claims arising out of possession or use of such Commodities. 

Section 6.02 Negative Inventory. 

Company shall not withdraw from either Terminal a greater volume of any Commodity than it has in inventory at that Terminal on the Day of withdrawal.

 Article VII. Commodity Quality 
 Section 7.01 Verification by Carrier. 
 At Carrier’s request from time to time,
the quality of any Commodity tendered into commingled storage for Company’s account hereunder shall be verified by an IIC analysis indicating that such Commodity so tendered meets Carrier’s minimum Commodity specifications. Company shall
provide Carrier with a copy of each such analysis. All costs for each such analysis shall be borne by Company. Carrier shall have the right to sample any Commodity tendered to Carrier for Company’s account hereunder for the purpose of
confirming the accuracy of the analysis. The costs of such confirmation shall be borne by Carrier. 
 Section 7.02 Sampling by
Company. 
 Company may, at its sole cost and expense, sample its Commodities in storage at a Terminal to satisfy itself that the minimum
Commodity specifications are maintained. If any such Company sample indicates the presence of any Commodity that does not meet or exceed Carrier’s minimum specifications for such Commodity in effect on the date of such sample, Company shall
immediately notify Carrier by telephone and Company shall confirm such notification in writing by telecopy Notice. If Company does not so notify Carrier, Carrier’s Commodity sample analysis shall be deemed to be conclusive and binding upon both
Parties. 

  
 12 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Section 7.03 Non-Conforming Commodities. 

 

	(a)	Company agrees not to deliver, or cause to be delivered, any Non-Conforming Commodity, into storage in Tanks. 

 

	(b)	Company shall be liable for all reasonable costs and losses in curing, removing, or recovering any Non-Conforming Commodities except to the extent that such
non-conformity is due to the negligence or willful misconduct of Carrier. Carrier, at its sole discretion, may attempt to blend the Non-Conforming Commodities, remove and dispose of the Non-Conforming Commodities, or, if necessary, recover any
Non-Conforming Commodities from field locations and, except to the extent that such non-conformity is due to the negligence or willful misconduct of Carrier, Company shall reimburse Carrier for all reasonable costs associated therewith. Except to
the extent that a non-conformity is due to the negligence or willful misconduct of Carrier, if Company’s Non-Conforming Commodities cause any contamination, dilution or other damages to the Commodities of other customers of Carrier, Company
agrees to indemnify, defend and hold the Carrier Affiliated Parties harmless from and against any Claims incurred by, or charged against any of the Carrier Affiliated Parties, as a result of such event and shall be responsible for all costs and
liabilities associated with or incurred as a result of such event. 

 Article VIII. Other Services

 Section 8.01 Additive Injection. 
 Company shall provide additives (including red dye for injection into Company’s untaxed distillate Commodities) and skid-based storage for additives that Company desires to be blended into its
Commodities at the Terminals. Carrier shall provide an additive injection system and shall blend additives into Company’s Commodities as instructed by Company, and for each Barrel of a Commodity into which one or more additives are blended,
Company shall pay to Carrier the “Other Additive Blending” fee determined in accordance with Exhibit B. Company shall provide Carrier with target additization rates (“TARs”) which must be at least as high as the
lowest additive concentration (“LAC”) as registered with the United States Environmental Protection Agency. Carrier may increase the TAR as it deems necessary to maintain the LAC. Carrier shall calibrate, monitor and maintain
the red dye system and ensure the dyed Commodities meet requirements for untaxed distillates under applicable Law. 
 Section 8.02
Stevedoring. 
  

	(a)	Carrier shall perform stevedoring services for Company’s Commodities at the Hartford Dock, including loading and unloading barges designated by Company and calling
at the Hartford Dock and receiving or delivering Commodities at the Hartford Dock, and Company shall pay the applicable “Hartford Dock Fee” for such services determined in accordance with Exhibit B. If Company wishes Carrier to provide
stevedoring services for a Commodity not identified on Exhibit B, the Parties shall agree upon the applicable fee before Carrier will be required to provide such services. 

  
 13 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
  

	(b)	Customer shall inform Carrier of the estimated time of arrival of each barge from which Commodities are to be loaded or unloaded at the Hartford Dock as soon as
practicable and, to the extent practicable, at each of 72, 48 and 24 hours before such barge’s arrival. If so informed, Carrier will make commercially reasonable efforts to provide such barge with berthing space within 24 hours after the
master, agent or representative of such barge tenders “notice of readiness” to Carrier, stating that the barge is ready in all respects to berth at the Hartford Dock to discharge Commodities. Absent such information, Carrier shall make
commercially reasonable efforts to provide such barge with berthing space to the extent that doing so would not be reasonably likely to impede a barge that has provided such information. 

 

	(c)	Carrier does not guarantee any particular rate at which a Commodity will be offloaded from a barge. 

 

	(d)	Carrier shall not be liable for any demurrage charges for any barge except to the extent caused by Carrier’s negligence, willful misconduct or breach of this
Agreement. 

  

	(e)	In no event shall Carrier be responsible for any port expenses (including pilotage, towage, linemen, etc.). 

Section 8.03 Jet Fuel Handling. 

Carrier shall provide jet fuel handling services at the Pasadena Terminal, and Company shall pay the Monthly “Pasadena Terminal Jet Fuel Handling
Fee” determined in accordance with Exhibit B. 
 Section 8.04 Laboratory Fees and Services. 

 

	(a)	If Carrier provides sampling and testing services requested by Company for Commodities at Hartford Terminal or the Pasadena Terminal, Carrier shall charge for each
sampling and testing procedure performed as set forth in Carrier’s “Schedule of Rates for Laboratory Services” then in effect. If Carrier contracts with another Person to perform laboratory services, all fees for such services shall
be billed to Company at Carrier’s cost. 

  

	(b)	Carrier’s liability for sampling and testing services is limited to the charge for the service provided. Carrier shall in no event be liable for special or
consequential damages no matter how loss or damages shall have occurred, including but not limited to loss or damage caused by Carrier’s negligence. There are no guarantees or warranties of any kind, express or implied, including but not
limited to any warranties of merchantability or fitness for a particular purpose whether arising by operation of law or otherwise as a result of services provided. 

  
 14 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Section 8.05 Hartford Pumpover.  

Carrier shall provide pumpover services from the Hartford Terminal to connecting pipelines. For pumpover services to any pipeline other than the Explorer
Pipeline at Wood River, Illinois (which service is governed by one of Carrier’s tariffs), Company shall pay Carrier at the “Hartford Pumpover Fee” determined in accordance with Exhibit B. 

Section 8.06 Additional Services. 
 For
any service or function not specifically provided for in this Agreement, requested by Company and agreed to by Carrier, there may be a charge or fee in an amount as agreed upon by the Parties in writing. 

Article IX. Operating Hours; Terminal Access 
 Section 9.01 Operating Hours. 
 Subject to mechanical breakdowns, Commodity quality
issues and/or other operational issues, each Terminal and the Hartford Dock shall be operated by Carrier during Regular Terminal Operating Hours. 
 Section 9.02 Terminal Access. 
 As a condition to being granted access to either
Terminal or the Hartford Dock, Company shall require all contractors, carriers and customers designated by it to deliver, receive, sample or inspect Company’s Commodities at such Terminal or the Hartford Dock or to provide any other service for
Company, to sign and comply with a terminal access agreement in such form as Carrier may reasonably specify from time to time. Further, Company shall cause all such designated contractors, carriers and customers to comply with all applicable
Terminal rules and regulations and Carrier shall make copies of such rules and regulations available to Company and its designated carriers and customers at both Terminals. 
 Article X. Storage Variations 
 Section 10.01 Storage Variations. 

Each Month, Carrier shall determine the physical inventory of each Commodity in storage and calculate the losses (“Storage
Losses”) or gains (“Storage Gains”) of a type normally incurred in connection with handling Commodities while in storage (Storage Losses and Storage Gains together, “Storage Variations”)
for each Commodity and for each Terminal, provided that for purposes of this Agreement, Storage Gains do not include gains that result from vapor recovery or butane blending. Monthly Storage Variations for each Commodity shall be prorated to all
Persons using the storage for that Commodity based upon their respective percentages of Terminal receipts of that Commodity for that Month (such proration being such Person’s “Proportionate Share”). Company’s
inventory of each such individual Commodity in storage at a Terminal shall then be adjusted each Month (increased or decreased) to reflect its Proportionate Share of the Storage Variation. For clarity, this Article X relates only to the losses or
gains of a type normally incurred in connection with handling Commodities while in storage and is an exception to and not a modification of the general provisions of Section 20.02. 

  
 15 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Section 10.02 Loss Settlement. 

Separately for each Commodity and with respect to each Month, Carrier shall pay Company an amount (a “Loss Settlement”) equal to:

  

	(a)	(i) the average of the midpoint postings published by Argus for the relevant Commodity at the nearest benchmark location on each publication day during the relevant
Month, multiplied by (ii) a volume equal to the net Storage Loss of the relevant Commodity during that Month (taking into account Storage Losses and Storage Gains at both Terminals and offsetting any Storage Gain of the relevant Commodity at
one Terminal against any Storage Loss at the other Terminal) in excess of (A) 0.5% for ethanol and biodiesel, or (B) 0.25% for any other Commodity; minus 

 

	(b)	Banked Storage Gains with respect to the relevant Commodity during any previous Month during the same calendar year, to the extent necessary to offset the amount
calculated under Section 10.02(a) and applying the oldest available Banked Storage Gain before any more recent available Banked Storage Gain. 

 Article XI. Monthly Statement; Payment; Liens 
 Section 11.01 Monthly
Statement. 
  

	(a)	Promptly after the end of each Month, Carrier shall provide Company with a statement showing the previous Month’s beginning inventory, receipts, withdrawals,
ending inventory, Storage Variation adjustment, number of Barrels of Commodities additized (if any), and the Scheduled Charges due to Carrier (after application of any credit to which Company may be entitled pursuant to Section 3.01(c),
Section 3.02(c), Section 3.03(c) or Section 3.04(c) and the settlement of any obligation under Section 10.02. If requested by Company, Carrier shall provide Company with copies of individual tank gauge reports, pipeline meter
tickets, and truck loading rack meter tickets for receipts and withdrawals at each Terminal for such Month, if available. 

  

	(b)	The Monthly statement for the last Month in each Calendar Quarter shall include any deficiency payment that may be due under Section 3.01(b), Section 3.02(b),
Section 3.03(b) or Section 3.04(b). 

  

	Section	11.02 Payment. 

  

	(a)	Company shall pay each Monthly statement without discount no later than the 21st Day of the Month in which such Monthly statement is received, provided that if such Day
is not a Business Day, then Company shall pay such Monthly statement without discount on the next Business Day. 

  
 16 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
  

	(b)	As long as Carrier is an affiliate of Company, Carrier and Company may settle Company’s financial obligations to Carrier through Company’s normal
interaffiliate settlement processes. 

  

	(c)	The amount of any Monthly statement, if not paid by the due date, shall bear interest at the rate of the lesser of 1.5% per Month or the maximum rate allowed by
Law for each Month or portion of a Month thereafter during which such amount remains unpaid. All payments shall be made to Carrier via wire transfer to an account specified by Carrier from time to time. Any bank charges incurred by Company in
remitting funds via wire transfer shall be for Company’s account. Company shall identify by number the Carrier Monthly statements being paid in the wire transfer comments. Acceptance by Carrier of any payment from Company for any charge or
service after termination or expiration of this Agreement shall not be deemed a renewal of this Agreement or a waiver by Carrier of any default by Company hereunder. 

 

	(d)	If Company reasonably disputes any Monthly statement, in whole or in part, Company shall promptly notify Carrier in writing of the dispute and shall pay the undisputed
portion according to the terms of this Section 11.02, and shall promptly seek to resolve the dispute including, if necessary, by arbitration as provided in Section 24.01. An arbitral panel may award reasonable interest on any unpaid amount
determined to have been due to Carrier but withheld in good faith. 

 Section 11.03 Liens. 

Company hereby grants to Carrier an irrevocable lien on all of Company’s Commodities in storage at both Terminals and power of attorney to dispose
of such Commodities at fair market value to the extent of all amounts owed to Carrier by Company hereunder. 
 Article XII.
Title; Custody 
 Section 12.01 Title. 
 Title to all of Company’s Commodities received, stored, handled and loaded out by Carrier at a Terminal and at the Hartford Dock shall remain at all times in Company’s name. 

Section 12.02 Custody. 
 Custody of
all Commodities received by Carrier hereunder from a connecting third party pipeline shall pass from such pipeline to Carrier when such Commodities pass the flange connection between such delivering pipeline and the relevant Terminal. Custody of all
Commodities withdrawn and delivered to Company hereunder shall pass from Carrier to Company when such Commodities pass through the flange connection (a) between the delivery hose at the relevant Terminal’s truck loading rack and a
receiving transport truck, (b) between the delivery hose at the Hartford Dock and a receiving barge, or (c) between the relevant Terminal and a receiving pipeline, as the case may be. 

  
 17 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Article XIII. Volume Determinations 

Section 13.01 Volume Determinations—General. 
  

	(a)	All measurements, volume corrections and calibrations will be made in accordance with the most recent edition of the American Petroleum Institute’s Manual of
Petroleum Measurement Standards. 

  

	(b)	All volume determinations shall be adjusted to a temperature of 60° Fahrenheit and a pressure of one standard atmosphere (14.7 PSIA) per the most recent edition of
the American Petroleum Institute’s Manual of Petroleum Measurement Standards, Chapter 11 (viz., Table 6B, 6C, etc., whichever table is relevant to the Commodity being measured). 

Section 13.02 Terminal Receipts and Withdrawals. 
  

	(a)	All Commodities (except ethanol and biodiesel) delivered to trucks at racks will be determined by calibrated custody transfer grade meters. Carrier will provide bills
of lading indicating the net volume delivered into each truck including language required by the appropriate Governmental Authority to Company. 

  

	(b)	All Commodities (except ethanol and biodiesel) received from or delivered to pipeline will be determined by calibrated custody transfer grade meters.

  

	(c)	All Commodities (except ethanol and biodiesel) received from or delivered to barges will be determined by an IIC using the measurement methods below and will be the
basis for preparing relevant shipping documents except in cases of fraud or manifest error. In the absence of an IIC, Carrier’s measurements will be final and binding except in cases of fraud or manifest error. The volumes received from or
delivered to barges shall be determined by one of the following measurement methods in the following order of preference: 

  

	 	(i)	Custody transfer grade meter(s). 

  

	 	(ii)	Shore tank(s) measurements (static tank), as determined by the IIC. 

  

	 	(iii)	In the event of an active (versus static) shore tank during any part of the transfer, or if IIC determines shore quantities to be inaccurate or not representative of
the cargo transferred, quantity shall be based on the volumes as determined from measurements of the vessel before and after the transfer with application of a vessel experience factor, if determined valid and applicable by the IIC.

  

	 	(iv)	In the event the IIC determines that the above custody transfer measurement points are inaccurate or not representative of the volume(s) of cargo transferred, the
Parties agree to negotiate in good faith to agree upon a new basis for custody transfer volumes. 

  
 18 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
  

	(d)	All ethanol received from pipeline or trucks will be determined by calibrated custody transfer grade meters. If meters are not available for offloading, alternate
measurement methods may be acceptable subject to review and approval by Carrier and Company. 

  

	(e)	All biodiesel received from trucks into a Terminal will be determined by calibrated custody transfer grade meters. If meters are not available for offloading, volume
shown on truck bills of lading and measured in Gallons or Barrels shall be deemed to be the volume delivered into a Terminal. 

  

	(f)	A Company representative may witness testing, calibration of equipment, meter reading, and gauging of Commodities at either Terminal, at Company’s expense. In the
absence of a Company representative, Carrier’s measurements shall be deemed to be accurate. 

 Article XIV.
Insurance 
 Section 14.01 Insurance. 
 Insurance for Company’s Commodities, if any, that may be desired by Company, shall be carried by Company at Company’s expense. Should Company elect to carry Commodity insurance, then each policy
of insurance shall be endorsed to provide a waiver of subrogation rights in favor of the Carrier Affiliated Parties. Carrier shall not be liable to Company for Commodity losses and/or shortages for which Company is compensated by its insurer.

 Article XV. Taxes 
 Section 15.01 Taxes. 
 Company shall be responsible for and shall pay all sales Taxes
and similar Taxes on goods and services provided hereunder and any other Taxes now or hereafter imposed by any Governmental Authority in respect of or measured by Commodities handled or stored hereunder or the manufacture, storage, delivery,
receipt, exchange or inspection thereof, and Company agrees to promptly reimburse Carrier for any such Taxes Carrier is legally required to pay, upon receipt of invoice therefor. Each Party is responsible for all Taxes in respect of its own real and
personal property. 
 Article XVI. Health, Safety and Environment 

Section 16.01 Spills; Environmental Pollution. 
  

	(a)	In the event of any Commodity spill or other environmentally polluting discharge caused by Carrier’s operation of a Terminal or the Hartford Dock, any clean-up
associated with such spill or discharge and any liability resulting from such spill or discharge, shall be the responsibility of Carrier, except to the extent such spill or discharge is caused by Company. 

  
 19 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
  

	(b)	In the event and to the extent of any Commodity spill or other environmentally polluting discharge caused by Company or in connection with the operation of
Company’s or a third party’s pipeline, barge, tank truck or transport trailer receiving Commodities on Company’s behalf, at its request or for its benefit, Carrier is authorized to commence containment or clean-up operations as deemed
appropriate or necessary by Carrier or as required by any Governmental Authority, and Carrier shall notify Company of such operations as soon as practicable. All liability and reasonable costs of containment or clean-up shall be borne by Company
except that, in the event a spill or discharge is caused by the joint negligence of both Carrier and Company or a third party’s pipeline, barge, tank truck or transport trailer receiving Commodities on Company’s behalf, at its request or
for its benefit, liability and costs of containment or clean-up shall be borne jointly by Carrier and Company in proportion to each Party’s respective negligence. 

 

	(c)	For purposes of this Section 16.01, the negligence of a third party pipeline, barge, tank truck or transport trailer receiving Commodities on Company’s
behalf, at its request or for its benefit, shall be attributed to Company. 

  

	(d)	The Parties shall cooperate for the purpose of obtaining reimbursement if a third party is legally responsible for costs or expenses initially borne by Carrier or
Company. 

 Section 16.02 Inspection. 
 Company may: (a) inspect either Terminal and the Hartford Dock, including health, safety, and environmental audits by inspector(s) chosen by Company; (b) make physical checks of Commodities in
storage at either Terminal, (c) audit Carrier’s health, safety, environmental, and operational records relating to the performance of this Agreement and otherwise observe such performance, and (d) subject to the provisions of
Section 9.02, enter upon any Terminal or Hartford Dock property for any of the foregoing purposes. For clarity, none of the rights identified in this Section 16.02 shall be exercised by Company in such manner as to substantially interfere
with or diminish Carrier’s complete control and responsibility for the operation of the Terminals and the Hartford Dock. 

Section 16.03 Marine Terminals Particulars Questionnaire. 
 Carrier shall complete and submit relevant portions of the Marine Terminals Particulars Questionnaire promulgated by the Oil Companies International Marine Forum as part of its Marine Terminal Information
System, and available online at www.ocimf-mtis.org. 
 Section 16.04 Incident Notification. 

Both Parties undertake to notify the other as soon as reasonably practical, but in no event more than 24 hours, after becoming aware of any accident,
spill or incident involving the other’s employees, agents, contractors, sub-contractors or their equipment, or Company’s Commodities at a Terminal or at the Hartford Dock and to provide reasonable assistance

  
 20 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 
in investigating the circumstances of the accident, spill or incident. Notices required by this Section 16.04 shall be delivered in person, by telephone or by email: 

 

			
	 If to Carrier:
	 	If to Company:
		
	 Phillips 66 Carrier LLC
	 	[Address]
	 c/o Phillips 66 Pipeline LLC
	 	[Attention]
	 [Address]
	 	[Telephone]
	 [Attention]
	 	[Email]
	 [Telephone]
	 	
	 [Email]
	 	

 When an accident, spill or incident involving Company’s Commodities requires a report to be submitted to a
Governmental Authority, this notification shall be made as soon as reasonably practical in compliance with applicable Law, and a copy of the required report shall be delivered to Company at IncidentFollowup@P66.com. Either Party may change
its contact information upon Notice to the other in accordance with this Section 16.04 and Section 18.01. 
 Section 16.05
Vessel Vetting. 
 Company shall have procedures in place to ensure that all vessels accepted to call at the Hartford Dock meet minimum
standards of safe operation as established by Carrier. Carrier shall advise Company of specific requirements applicable to the Hartford Dock. 
 Article XVII. Force Majeure 
 Section 17.01 Suspension during Force Majeure
Events. 
 As soon as possible upon the occurrence of a Force Majeure, a Party affected by a Force Majeure event shall provide the other
Party with written notice of the occurrence of such Force Majeure. Each Party’s obligations (other than an obligation to pay any amounts due to the other Party) shall be temporarily suspended during the occurrence of, and for the entire
duration of, a Force Majeure event to the extent that such an event prevents Carrier from performing its obligations under this Agreement. Each Party’s obligations (other than an obligation to pay any amounts due to the other Party) shall be
temporarily suspended beginning 20 Days after the commencement of, and for the entire remaining duration of, a Force Majeure event to the extent that such event prevents Company from performing its obligations under this Agreement. The Minimum
Quarterly Truck Rack Commitment, Minimum Quarterly Ethanol Commitment, Minimum Quarterly Biodiesel Commitment or Minimum Quarterly Pasadena Pumpover Commitment shall be ratably reduced to reflect such suspension. 

Section 17.02 Obligation to Remedy Force Majeure Events. 
 A Party affected by a Force Majeure event shall take commercially reasonable steps to remedy such situation so that it may resume its performance within a reasonable period of time. 

  
 21 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Section 17.03 Strikes and Lockouts. 

The settlement of strikes, lockouts and other labor disturbances shall be entirely within the discretion of the affected Party and the requirement to
remedy a Force Majeure event within a reasonable period of time shall not require the settlement of strikes or lockouts by acceding to the demands of an opposing Person when such course is inadvisable in the discretion of the Party having the
difficulty. 
 Section 17.04 Action in Emergencies. 
 Carrier may temporarily suspend performance of the services to prevent injuries to persons, damage to property or harm to the environment. 

Article XVIII. Notices 

Section 18.01 Notices. 
 Unless
otherwise specifically provided in this Agreement, all Notices between the Parties given under or in relation to this Agreement shall be made in writing and shall be deemed to have been properly given if: (i) personally delivered (with written
confirmation of receipt); or (ii) delivered by a recognized overnight delivery service (delivery fees prepaid), in either case to the appropriate address set forth below: 

 

			
	 If to Carrier:
	  	If to Company:
		
	 Phillips 66 Carrier LLC
	  	Phillips 66 Company
	 c/o Phillips 66 Pipeline LLC
	  	3010 Briarpark Dr.
	 3010 Briarpark Dr.
	  	Houston, TX 77042
	 Houston, TX 77042
	  	Attn: General Counsel
	 Attn: President
	  	

 Either Party may change its address for Notice upon Notice to the other in accordance with this Section 18.01.

 Section 18.02 Effective upon Receipt. 
 Any Notice given in the manner set forth in Section 18.01 shall be effective upon actual receipt if received during Normal Business Hours, or at the beginning of the recipient’s next Business
Day if not received during Normal Business Hours. 
 Article XIX. Applicable Law 

Section 19.01 Applicable Law. 

Regardless of the place of contracting, place(s) of performance or otherwise, this Agreement and all amendments, modifications, alterations or
supplements to it, shall be governed and interpreted in accordance with the laws of the state of Texas, without regard to the principles of conflicts of law or any other principle that might apply the law of another jurisdiction. 

  
 22 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Article XX. Limitation of Liability 

Section 20.01 No Liability for Consequential Damages. 
 In no event shall either Party be liable to the other Party for, and no arbitral panel is authorized to award, any punitive, special, indirect or consequential damages of any kind or character resulting
from or arising out of this Agreement, including, without limitation, loss of profits or business interruptions, however they may be caused. 

Section 20.02 Limitation of Liability. 
 Notwithstanding anything to the contrary in this Agreement, and except for Storage Variations, Carrier shall in no event be liable for loss of, or damage to, any Commodities of Company except when caused
by Carrier’s negligence, or the negligence of Carrier’s employees, agents, contractors or subcontractors, in the safekeeping and handling of any Commodity of Company. In no event shall Carrier be liable for more than the replacement of
lost or damaged Commodities or, at its option, payment of the replacement cost of any lost or damaged Commodities. Each Party shall be discharged from any and all liability with respect to services performed and any loss or damage Claims arising out
of this Agreement unless suit or action is commenced within two years after the cause of action arises. 
 Article XXI.
Default 
 Section 21.01 Default. 
 Should either Party default in the prompt performance and observance of any of the terms and conditions of this Agreement, and should such default continue for 30 Days or more after Notice thereof by the
non-defaulting Party to the defaulting Party, or should either Party become insolvent, commence a case for liquidation or reorganization under the United States Bankruptcy Code (or become the involuntary subject of a case for liquidation or
reorganization under the United States Bankruptcy Code, if such case is not dismissed within 30 Days), be placed in the hands of a state or federal receiver or make an assignment for the benefit of its creditors, then the other Party shall have the
right, at its option, to terminate this Agreement immediately upon Notice to the other Party. 
 Section 21.02 Non-Exclusive
Remedies. 
 Except as otherwise provided, the remedies of Carrier and Company provided in this Agreement shall not be exclusive, but shall
be cumulative and shall be in addition to all other remedies in favor of Carrier or Company, at Law or equity. 

  
 23 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Section 21.03 Right to Terminate. 

In the event of a default by Company, the Scheduled Charges theretofore accrued shall, at the option of Carrier, become immediately due and payable and
Carrier shall also have the right, at its option, to terminate this Agreement. In the event of a default by Carrier, Company shall also have the right, at its option, to terminate this Agreement and withdraw its Commodities from both
Terminals, provided Company has paid Carrier for any Scheduled Charges that have accrued to the date of such withdrawal. 

Article XXII. Public Use 

Section 22.01 Public Use. 
 This
Agreement is made as an accommodation to Company. In no event shall Carrier’s services hereunder be deemed to be those of a public utility or a common carrier. If any action is taken or threatened by any Governmental Authority to declare
Carrier’s services hereunder to be those of a public utility or a common carrier, then, in that event, at the option of Carrier and upon Company’s receipt of Carrier’s Notice, Carrier may restructure and restate this Agreement or
terminate this Agreement on the effective date of such action as to the affected Tank(s) or services. 
 Article XXIII.
Confidentiality 
 Section 23.01 Confidentiality. 
 The Parties understand and agree that the Scheduled Charges are confidential as between the Parties. Each Party agrees not to disclose such confidential information to any third Person. Each Party may
disclose confidential information to its advisors, consultants or representatives (provided that such Persons agree to maintain the confidentiality thereof) or when compelled to do so by Law (but the disclosing Party must notify the other
Party promptly of any such request for confidential information before disclosing it, if practicable, so that the other Party may seek a protective order or other appropriate remedy and/or waive compliance with this Section 24.01). In the event
that the other Party does not obtain a protective order or other remedy and/or does not waive compliance with this Section 24.01, the disclosing Party shall disclose only that portion of the confidential information to which the compelling
Person is legally entitled. 
 Article XXIV. Miscellaneous 
 Section 24.01 Disputes between the Parties. 
 Any dispute between the Parties in
connection with this Agreement shall be resolved by arbitration in accordance with the procedures set forth in Exhibit C, provided that either Party may seek a restraining order, temporary injunction, or other provisional relief in any court
with jurisdiction over the subject matter of the dispute and sitting in Houston, Texas, if such Party in its sole judgment believes that such action is necessary to avoid irreparable injury or to preserve the status quo ante. 

  
 24 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Section 24.02 Assignment. 

 

	(a)	Neither Party may assign its rights or delegate its duties under this Agreement without prior written consent of the other Party except: 

 

	 	(i)	if WRB Refining LP transfers the Wood River Refinery or if Company transfers the Sweeny Refinery, Company may assign this Agreement to the transferee of such asset
subject to the provisions of Section 24.02(b), and 

  

	 	(ii)	Carrier may make collateral assignments of this Agreement to secure working capital financing, 

provided that in no event shall Company be required to consent to Carrier’s assignment of this Agreement to any Person that is
engaged in the business of refining and marketing petroleum products (or that directly or indirectly Controls or is Controlled by a Person that is engaged in the business of refining and marketing petroleum products) in the states of Illinois,
Louisiana, Missouri or Texas. 
  

	(b)	If Company assigns this Agreement relating to a single Terminal, then (i) Company’s Minimum Quarterly Truck Rack Commitment, Minimum Quarterly Ethanol
Commitment, Minimum Quarterly Biodiesel Commitment and Minimum Pasadena Pumpover Commitment shall be allocated between the two Terminals consistent with Company’s historic use of such Terminals. 

 

	(c)	Upon an assignment or partial assignment of this Agreement by either Party, the assigned rights and obligations shall be novated into a new agreement with the assignee,
and such assignee shall be responsible for the performance of the assigned obligations unless the non-assigning Party has reasonably determined that the assignee is not financially or operationally capable of performing such, in which case the
assignor shall remain responsible for the performance of the assigned obligations. 

 Section 24.03 Partnership Change in
Control. 
 Company’s obligations hereunder shall not terminate in connection with a Partnership Change in Control. Carrier shall
provide Company with Notice of any Partnership Change in Control at least 60 Days prior to the effective date thereof. 
 Section 24.04
No Third-Party Rights. 
 Except as expressly provided, nothing in this Agreement is intended to confer upon any Person other than the
Parties, and their respective successors and assigns, any rights, benefits or obligations. 
 Section 24.05 Compliance with Laws.

 Each Party shall at all times comply with all Laws as are applicable to its performance of this Agreement. 

  
 25 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Section 24.06 Severability. 

If any provision of this Agreement or the application thereof shall be found by any arbitral panel or court of competent jurisdiction to be invalid,
illegal or unenforceable to any extent and for any reason, it shall be adjusted rather than voided, if possible, in order to achieve the intent of the Parties. In any event, the remainder of this Agreement and the application of such remainder shall
not be affected thereby and shall be enforced to the greatest extent permitted by Law. 
 Section 24.07 Non-Waiver. 

The failure of either Party to enforce any provision, condition, covenant or requirement of this Agreement at any time shall not be construed to be a
waiver of such provision, condition, covenant or requirement unless so notified by such Party in writing. No waiver by either Party of any default by the other Party in the performance of any provision, condition, covenant or requirement contained
in this Agreement shall be deemed to be a waiver of, or in any manner release, such other Party from performance of any other provision, condition, covenant or requirement, nor be deemed to be a waiver of the same provision, condition, covenant or
requirement. 
 Section 24.08 Entire Agreement. 
 This Agreement, together with all exhibits attached hereto, constitutes the entire Agreement between the Parties relating to its subject matter and it supersedes all prior and contemporaneous agreements,
understandings, negotiations and discussions, whether oral or written, between the Parties relating to the subject matter hereof, and there are no warranties, representations or other agreements between the Parties in connection with the subject
matter hereof except as specifically set forth in, or contemplated by, this Agreement. 
 Section 24.09 Amendments. 

This Agreement shall not be modified or amended, in whole or in part, except by a written amendment signed by both Parties. 

Section 24.10 Survival. 
 Any
indemnification granted hereunder by one Party to the other Party shall survive the termination of all or any part of this Agreement. 

Section 24.11 Counterparts; Multiple Originals. 
 This Agreement may be executed in any number of counterparts, all of which together shall constitute one agreement binding on each of the Parties. Each of the Parties may sign any number of copies of this
Agreement. Each signed copy shall be an original, but all of them together shall represent one and the same agreement. 

  
 26 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Section 24.12 Exhibits. 

The exhibits identified in this Agreement are incorporated in it and part of it. If there is any conflict between this Agreement and any exhibit, the
provisions of the exhibit shall control. 
 Section 24.13 Table of Contents; Headings; Subheadings. 

The Table of Contents and the headings and subheadings of this Agreement have been inserted only for convenience to facilitate reference and are not
intended to describe, interpret, define or limit the scope, extent or intent of this Agreement or any provision hereof. 
 Section 24.14
Construction. 
 The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or
question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or disfavoring either Party by virtue of the authorship of any of the
provisions of this Agreement. 
 Section 24.15 Business Practices. 
 Carrier shall use its best efforts to make certain that all billings, reports, and financial settlements rendered to or made with Company pursuant to this Agreement, or any revision of or amendments to
this Agreement, will properly reflect the facts about all activities and transactions handled by authority of this Agreement and that the information shown on such billings, reports and settlement documents may be relied upon by Company as being
complete and accurate in any further recording and reporting made by Company for whatever purposes. Carrier shall notify Company if Carrier discovers any errors in such billings, reports, or settlement documents. 

Section 24.16 Right of First Refusal. 
 Carrier may not enter into any agreement with any Person other than Company with respect to terminaling services at the Hartford Terminal or Pasadena Terminal during the Term of this Agreement or upon the
termination of this Agreement without first disclosing to Company all of the material terms and conditions of such an agreement and allowing Company not less than 60 Days within which to enter into an agreement upon the same terms and conditions.

 Section 24.17 Right of First Offer. 
 Company may not enter into any agreement with any Person other than Carrier with respect to terminaling services in connection with refined petroleum product distribution from the Sweeny Refinery or the
Wood River Refinery without allowing Carrier an opportunity to offer to provide such services. 

  
 27 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Section 24.18 Effect of Company Restructuring. 

If Company decides to restructure its supply, refining or sales operations at the Sweeny Refinery, or if WRB Refining LP decides to restructure its
supply, refining or sales operations at the Wood River Refinery, in such a way as to materially and adversely affect the economics of Company’s performance under this Agreement, then the Parties will negotiate in good faith concerning a
reduction in Company’s commitment and/or an exchange of the Hartford Terminal or the Pasadena Terminal (whichever is adversely affected) for other assets not so affected. 
 IN WITNESS WHEREOF, Carrier and Company have signed this Agreement as of the Effective Date. 
  

 

									
	PHILLIPS 66 CARRIER LLC	  		  	PHILLIPS 66 COMPANY
					
	 By:
	  	  
	  		  	By:	  	  

					
	 Name:
	  	  
	  		  	Name:	  	  

					
	 Title:
	  	  
	  		  	Title:	  	  

  
 28 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Exhibit A 

Commodities 
  

	 	•	 	 Ultra Low Sulfur Diesel 

  

	 	•	 	 Aviation Gasoline 

  

	 	•	 	 Biodiesel 

  

	 	•	 	 Jet Fuel 

  

	 	•	 	 Slurry 

  

	 	•	 	 Natural Gasoline 

  

	 	•	 	 Reformate 

  

	 	•	 	 Fuel Oil 

  

	 	•	 	 Ethanol 

  

	 	•	 	 Butane 

  

	 	•	 	 Liquid Petroleum Gas 

  

	 	•	 	 Non-Premium Gasoline 

  

	 	•	 	 Non-Premium RBOB Gasoline 

  

	 	•	 	 Premium Gasoline 

  

	 	•	 	 Premium RBOB Gasoline 

  

	 	•	 	 Transmix 

  
 Exhibit A/Page
1 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Exhibit B 

Scheduled Charges 
  

							
	 1.
	  	Base Throughput Fee:	  	$**/Barrel	  	
				
	 2.
	  	Blending Fees:	  		  	
				
		  	 Ethanol Blending:
	  	$**/Barrel	  	
		  		  	(applied to volume of neat ethanol blended)	  	
				
		  	 Biodiesel Blending:
	  	$**/Barrel	  	
		  		  	(applied to volume of neat biodiesel blended)	  	
				
		  	 Other Additive Blending:
	  	$**/Barrel	  	
		  		  	(applied to total volume blended)	  	
				
	 3.
	  	Pasadena Terminal Jet Fuel Handling:	  	$**/Month1	  	
				
	 4.
	  	Hartford Dock Fees:	  		  	
				
		  	 Dyed diesel across barge dock:
	  	$**/Barrel	  	
		  	 via Carrier pipeline
	  		  	
				
		  	 Naphtha across barge dock:
	  	$**/Barrel	  	
		  	 via Carrier pipeline]
	  		  	
				
	 5.
	  	Pumpover Fees:	  		  	
				
		  	 Pasadena Pumpover Fee:
	  	$**/Barrel	  	
				
		  	 Hartford Pumpover Fee:
	  	$**/Barrel	  	
				
	 6.
	  	 Holdover Fee:
	  	$**/Barrel/Month	  	
		  		  	(or partial Month)	  	
		
	 7.
	  	Adjustment. Carrier may adjust all charges set forth in Paragraphs 1, 2, 3, 4, 5 and 6 above annually beginning January 1, 2014, in accordance with
Section 4.03.

  

	1 	If the Effective Date is any day other than the first Day of a Month, or if this Agreement is terminated on any Day other than the last Day of a Month, then this Fee
shall be prorated accordingly. 

  
 Exhibit B/Page
1 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
 Exhibit C 

Arbitration Procedure 

Either Party may initiate dispute resolution procedures by sending a Notice to the other Party specifically stating the complaining Party’s
Claim and by initiating binding arbitration in accordance with the Center for Public Resources Rules for Non-Administered Arbitration of Business Disputes, by three arbitrators who shall be neutral, independent, and generally knowledgeable about the
type of transaction which gave rise to the dispute. The arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. §§ 1-16, provided that the arbitrators shall include in their report/award a list of
findings, with supporting evidentiary references, upon which they have relied in making their decision. Judgment upon the award rendered by the arbitrators may be entered by any court having jurisdiction thereof. The place of arbitration shall be
Houston, Texas. 
 Notwithstanding anything herein and regardless of any procedures or rules of the Center for Public Resources, it is
expressly agreed that the following shall apply and control over any other provision in this Agreement: 
  

	(a)	All offers, conduct, views, opinions and statements made in the course of negotiation or mediation by any of the Parties, their employees, agents, experts, attorneys
and representatives, and by any mediator, are confidential, made for compromise and settlement, protected from disclosure under Federal and State Rules of Evidence and Procedure, and inadmissible and not discoverable for any purpose, including
impeachment, in litigation or legal proceedings between the Parties, and shall not be disclosed to any Person who is not an agent, employee, expert or representative of the Parties, provided that evidence otherwise discoverable or admissible
is not excluded from discovery or admission as a result of presentation or use in mediation. 

  

	(b)	Except to the extent that the Parties may agree upon selection of one or more arbitrators, the Center for Public Resources shall select arbitrators from a panel
reviewed by the Parties. The Parties shall be entitled to exercise peremptory strikes against one-third of the panel and may challenge other candidates for lack of neutrality or lack of qualifications. Challenges shall be resolved in accordance with
Center for Public Resource rules. 

  

	(c)	The Parties shall have at least 20 Days following the close of hearing within which to submit a brief (not to exceed 18 pages in length) and ten Days from date of
receipt of the opponent’s brief within which to respond thereto. 

  

	(d)	The Parties expressly agree that the arbitrators shall not award punitive damages, consequential damages, or attorneys’ fees (except attorneys’ fees
specifically authorized by the Agreement). 

  
 Exhibit C/Page
1 

 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.
THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). 

 
  

	(e)	The fees and expenses of any mediator or arbitrator shall be shared equally by the Parties. 

 

	(f)	The Parties may, by written agreement (signed by both Parties), alter any time deadline or location(s) for meetings. 

Time is of the essence for purposes of the provisions of this Exhibit. 

  
 Exhibit C/Page
2EX-10.1

 Exhibit 10.1 
 RESIGNATION AND RELEASE 
 THIS RESIGNATION AND
RELEASE (“Agreement”) is made and entered into as of the 27th day of March, 2013 (the “Execution Date”), by and between WYNN RESORTS, LIMITED (“Company”) and MARC D. SCHORR (“Employee”). 

WITNESSETH: 
 WHEREAS, Company is a corporation duly organized and existing under the laws of the State of Nevada, maintains its principal place of business at 3131 Las Vegas Blvd. South, Las Vegas, Nevada
89109, and is engaged in the business of developing, constructing and operating a casino resorts; and, 
 WHEREAS,
Employee is an adult individual residing at ********************; and, 
 WHEREAS, Employee has been in the employ of
Company in the position of Chief Operating Officer pursuant to that certain Employment Agreement dated as of March 4, 2008 (the “2008 Agreement”), as amended by that certain First Amendment to Employment Agreement dated as of
December 31, 2008 (the “First Amendment”), and as further amended by that certain Second Amendment to Employment Agreement effective as of October 31, 2012 (the “Second Amendment”), the 2008 Agreement, the
First Amendment and the Second Amendment are collectively referred to herein as the “Employment Agreement”); and, 
 WHEREAS, Employee also serves as an officer, employee, director, member and/or agent for the Company and the Company subsidiaries and affiliates; and 

WHEREAS, Employee has advised the Company that he desires to reach a mutual agreement regarding his retirement from the Company
and from his position as Chief Operating Officer of the Company as well as all other positions he holds as an officer, employee, director, member and/or agent of the Company and the Company’s subsidiaries and affiliates; and 

WHEREAS, Employee has agreed to tender and Company has agreed to accept Employee’s retirement request and the relinquishment
of all his positions at the Company and the Company’s subsidiaries and affiliates; and 
 WHEREAS, Employee and
Company have agreed that Employee’s effective date of retirement shall be June 1, 2013 in order for Company and Employee to plan for an orderly transition of responsibilities; and 

WHEREAS, Company and Employee desire to address and resolve any and all dealings, rights and claims between them, including by way
of example and not limitation, any such matters arising out of the Employment Agreement, Employee’s employment with Company, and his retirement therefrom. 
 NOW, THEREFORE, for and in consideration of the foregoing recitals and the mutual promises, representations, and warranties herein contained and intending to be legally bound thereby, Employee and
Company do hereby promise and agree as follows: 
 1.      RESIGNATION OF EMPLOYMENT.
 
 (a)    Resignation as COO. Employee hereby resigns his position of Chief Operating
Officer of the Company and Company hereby accepts Employee’s resignation from such employment effective 5 p.m. Pacific Standard Time on June 1, 2013 (the “Effective Date”). 

(b)    Resignation of Other Positions. Employee hereby agrees that between the Execution Date and the
Effective Date, Employee shall resign all other officer, employee, member, director and/or agent positions that the Employee holds with the Company in the manner and time determined by the Company; provided however, that as of the Effective Date,
Employee does hereby resign all positions that Employee holds with the Company and or its subsidiaries and affiliates. 

 (c)    Employment Status. Employee agrees that his
employment status with the Company shall be “Retired” from the Effective Date through June 1, 2018. On June 1, 2018. Employee status will be change to “Terminated.” 

(d)    Availability. Employee agrees, that for a period of five (5) years from the Effective Date,
to cooperate and make himself reasonably available to Company, Company’s affiliates and their respective attorneys to discuss, consult and assist on matters in which the Employee was involved prior to the Execution Date. Employee agrees to
cooperate with the Company and to execute all such necessary and appropriate documents to orderly transfer Employee’s responsibilities. 
 2.      SEVERANCE COMPENSATION. For and in consideration of this Agreement, Company agrees to provide to Employee, and Employee hereby agrees to accept from
Company, the following severance compensation: 
 (a)    Base Salary. Employee shall be
entitled to receive all unpaid Base Salary through the Effective Date, less all applicable taxes and withholdings. 

(b)    Vacation. Employee shall also be paid for all accrued vacation through the Effective Date in
accordance with the policies of the Company. 
 (c)    Medical Benefits. From and after the
Effective Date through June 1, 2018, Employee will continue to receive health benefits coverage for Employee and Employee’s dependents under the same plans under which they were covered immediately before the Effective Date, subject to the
changes and modification that the Company may make to such plans. All cost of such health coverage shall be paid by the Company until the earlier of Employee’s death or June 1, 2018. Nothing herein shall be interpreted as to prohibit the
Company from making any changes or modification to the Company’s health insurance programs. 

(d)    Restricted Stock. Employee and Company have entered into that certain Restricted Stock Agreement
dated as of October 16, 2008, as amended by that First Amendment to Restricted Stock Agreement dated as of February 22, 2013 (collectively the “Restricted Stock Agreement”) concerning the grant of 250,000 shares of
Wynn Resorts Limited common stock (the “WRL Common Stock”). As of the Execution Date, Employee acknowledges that 50,000 shares of the WRL Common Stock subject to that Restricted Stock Agreement have vested. Company agrees to
accelerate the vesting of the remaining 200,000 shares of WRL Common Stock subject to the Restricted Stock Agreement and that such 200,000 remaining shares of WRL Common Stock shall vest in the entirety as of May 31, 2013. 

(e)    2009 Stock Option. Company acknowledges that Employee was granted an option on May 6, 2009
(the “2009 Stock Option”) to purchase 500,000 shares of WRL Commons Stock and that as of the Effective Date, Employee’s right to exercise the 2009 Stock Option for 200,000 shares of WRL Common Stock will have vested. Employee
shall be eligible to exercise the 2009 Stock Option for such 200,000 vested shares (less any vested shares that Employee may have previously exercised) in accordance with the terms of the Wynn Resorts, Limited 2002 Stock Incentive Plan and the 2009
Stock Option. Employee acknowledges and agrees that after the Effective Date, none of the remaining 300,000 shares of WRL Common Stock subject to the 2009 Stock Option shall vest and Employee’s right to exercise the 2009 Stock Option for such
remaining 300,000 shares shall terminate as of the Effective Date. 
 3.      WAIVER AND
RELEASE. Except for the specific covenants elsewhere in this Agreement, and to the extent consistent with law, Employee, for Employee, Employee’s spouse, children, heirs, executors, administrators, successors and assigns (hereinafter
“Releasors”), to the extent consistent with law, hereby fully and forever releases, acquits, discharges and promises not to sue Wynn Resorts, Limited and its past, present and future parent and/or subsidiary entities, divisions,
affiliates and any past, present or future partners, owners, joint venturers, stockholders, predecessors, successors, officers, directors, administrators, employees, agents, 

  
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representatives, attorneys, heirs, executors, assigns, retirement plans and/or their trustees and any other person, firm or corporation with whom any of them is now or may hereafter be affiliated
(hereinafter “Releasees”), over any and all claims, demands, obligations, losses, causes of action, costs, expenses, attorney’s fees, liabilities and indemnities of any nature whatsoever, whether negligent or intentional,
whether now known or unknown, discovered now or in the future, whether based on race, age, disability, national origin, gender, sexual orientation, marital status, veteran status, protected activity, compensation and benefits from employment,
including stock, stock options, stock option agreements and retirement plans, whether based on contract (including but not limited to the Employment Agreement), tort, defamation, statute or other legal or equitable theory of recovery, whether mature
or to mature in the future, which from the beginning of time of the world to the Effective Date Employee had, now has or claims to have against Wynn Resorts, Limited or any other person or entity described above. 

Without limiting the foregoing, this Agreement applies to any and all matters that have been or which could have been asserted in a
lawsuit or in any state or federal court, up to the date of this Agreement, specifically including, but not by way of limitation, claims under the Equal Pay Act, the National Labor Relations Act, as amended, Title VII of the Civil Rights Act of
1964, as amended, the Post-Civil War Reconstruction Acts, as amended (42 U.S.C. §§ 1981-1988), the Age Discrimination in Employment Act of 1967, as amended, the Americans with Disabilities Act of 1990, the Rehabilitation Act of 1973, as
amended, the Employee Retirement Income Security Act of 1974, as amended, the Civil Rights Act of 1991, the Pregnancy Discrimination Act, any other federal statute, any state civil rights act, any state statutory wage claim such as those contained
in Chapter 608 of the Nevada Revised Statutes, any other statutory claim, any claim of wrongful discharge, any claim in tort or contract, any claim seeking declaratory, injunctive, or equitable relief, or any other claim of any type whatsoever
arising out of the common law of any state. Notwithstanding the above, this release does not apply to any rights, obligations or claims governed by Chapter 612 of the Nevada Revised Statutes. 

This release also does not limit either party’s right, where applicable, to file an administrative charge or participate in an
investigative proceeding of any federal, state or local governmental agency, but does operate as a waiver of any personal recovery if related to the claims released herein 
 4.      RESTRICTIVE COVENANT/NO SOLICITATION. Employee and Company agree that during the Employee’s tenure with the Company, Employee had the opportunity
to receive highly confidential and proprietary information of the Company and its affiliates. Further, Company’s decision to enter into this Agreement and to grant Employee the compensation described in Section 2 is directly related to
Employee agreement to not participate into any business that is competitive with the Company without the expressed written permission of the Company. Accordingly, Employee agrees to the following: 

(a)    Employee hereby covenants and agrees that until June 1, 2018, Employee shall not, directly or indirectly,
either as a principal, agent, employee, employer, consultant, partner, member of a limited liability company, shareholder of a closely held corporation, or shareholder in excess of two percent (2%) of a publicly traded corporation, corporate
officer or director, manager, or in any other individual or representative capacity, engage or otherwise participate in any manner or fashion in any business that is in competition in any manner whatsoever with the principal business activity of
Company or its affiliates (including but not limited to internet gaming except as may be conducted by Seth Schorr under Longshot/Aspect Interactive or Fifth Street Interactive), in the United States of America, Macau, SAR, Monaco or any other market
in which Company or its affiliates currently operate or have announced, publicly or otherwise, a plan to have hotel or gaming operations. 
 (b)    Employee hereby further covenants and agrees that, for a period of two (2) years following the Effective Date, Employee shall not, directly or indirectly, solicit or
attempt to solicit for employment any management level employee of Company or its affiliates on behalf of any business that is in competition in any manner whatsoever with the principal business activity of Company or its affiliates, in or about any
market in which Company or its affiliates currently operate or have announced, publicly or otherwise, a plan to have hotel or gaming operations. 

  
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 (d)    Employee hereby further covenants and agrees that the restrictive
covenants contained in this Section 4 are reasonable as to duration, terms and geographical area and that they protect the legitimate interests of Company, impose no undue hardship on Employee, and are not injurious to the public. In the event
that any of the restrictions and limitations contained in this Section 4 are deemed to exceed the time, geographic or other limitations permitted by Nevada law, the parties agree that a court of competent jurisdiction shall revise any offending
provisions so as to bring this Section 4 within the maximum time, geographical or other limitations permitted by Nevada law. 
 (e)    Company gives Employee specific permission to provide consulting services to hotel and casino operations that are under the continued management of Employee’s son, Seth
Schorr, which currently include Fifth Street Gaming (including Fifth Street Interactive and Longshot/Aspect Interactive), Downtown Third, Downtown Grand, Lucky Club, Silver Nugget, Opera house, Little Macau Bar and Grill and the Gold Spike, at any
time following the Effective Date. 
 5.      CONFIDENTIALITY. Company and Employee
promises and agrees as follows: 
 (a)    Employee shall immediately return to Company all original and
copies of files, memoranda, records, customer lists and all other documents or physical items which are the property of Company (collectively “Company Property”) and Employee shall not retain any copies of the Company Property.
Electronically stored information (“ESI”) on the Employees personal computers that could be described as Company Property shall be deleted by Company personnel at the Company’s expense. Otherwise, such ESI shall not be considered
Company Property. 
 (b)    Employee shall keep confidential and not disclose to anyone any information
concerning Company business (including but not limited to any non-public information relating to the Company’s officers, directors or employees), customers, suppliers, marketing methods, trade secrets and other “know how”, and any
other information not of a public nature, regardless of how such information came to Employee’s knowledge, custody or control. Notwithstanding the foregoing Employee shall not be required to keep confidential (a) information known to
Employee prior to the commencement of his employment with the Company (or its affiliates) or (b) information that is or becomes generally publicly known through authorized disclosure. 

(c)    Employee acknowledges that Company and its affiliates have a reputation for offering high-quality destination
resort accommodations and services to the public, and are subject to regulation and licensing, and therefore desire to maintain their reputation and receive positive publicity. Employee therefore agrees to act in a manner that is not adverse,
detrimental or contrary to the best interests of Company and its affiliates, and specifically Employee will not knowingly directly or indirectly make or publish any oral, written or recorded statement or comment that is negative, disparaging,
defamatory or critical of Company, its affiliates, or their respective officers, directors or employees. 

(d)    Consistent with the amicable termination of Employee’s employment with Company as set forth in this
Agreement, neither Company nor any of its affiliates shall, nor shall they suffer anyone else to, make or publish, directly or indirectly, any oral, written or recorded statement or comment that is negative, disparaging, defamatory or critical of
Employee or Employee’s professional performance during Employee’s employ with the Company. The Employee’s personnel file shall reflect that Employee voluntarily resigned his employment with the Company. 

6.      EFFECTIVENESS. Subject to Section 20, this Agreement is effective as of the
Execution Date, provided however, in the event Employee notifies the Company that Employee is revoking Employee’s waiver of any potential age discrimination claim, Company shall have the right within seven days of such notice of revocation to
terminate this Agreement and cease making all payments and providing all benefits described herein. 

  
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 7.      NOTICES. Any and all notices required by
this Agreement shall be either hand-delivered or mailed, via certified mail, return receipt requested, addressed to: 
  

			
	 TO COMPANY:
	  	 Attn: Legal Department

Wynn Resorts, Limited
 3131 Las Vegas Blvd.
So.
 Las Vegas, Nevada 89109

		
	 TO EMPLOYEE:
	  	 Marc D. Schorr

*****************

*****************

 All notices hand-delivered shall be deemed delivered as of the date actually delivered to the
addressee. All notices mailed shall be deemed delivered as of three (3) business days after the date postmarked. Any changes in any of the addresses listed herein shall be made by notice as provided in this Section 7. 

8.      ASSIGNMENT. Neither Company nor Employee shall have the right to assign this
Agreement or in any manner or fashion sell, assign or transfer its respective rights and/or interests hereunder without the prior written consent of the non-assigning party. Any purported assignment or transfer in violation of this Section 8
shall be null and void. 
 9.      GOVERNING LAW. This Agreement shall be governed
by and construed in accordance with the laws of the State of Nevada, without regard to conflict of laws principles. 

10.    BEST EVIDENCE. This Agreement shall be executed in original or “Xerox” photo-static
copies and each copy bearing original signatures of the parties hereto in ink shall be deemed an original. 

11.    AMENDMENT OR MODIFICATION. This Agreement may not be amended or modified except by a writing
signed by all parties hereto. 
 12.    INTERPRETATION. The preamble recitals of the Agreement
are incorporated into and made a part of this Agreement; titles of Sections are for convenience only and are not to be considered a part of this Agreement. All references to the singular shall include the plural and all references to gender shall,
as appropriate, include other genders. 
 13.    SEVERABILITY. In the event any one or more
provisions of this Agreement is declared null and void or otherwise unenforceable as provided in this Agreement, the remainder of this Agreement shall survive, unless such survival vitiates the intent of the parties hereto. 

14.    WAIVER. None of the terms in this Agreement, including this Section 14, or any term, right
or remedy hereunder, shall be deemed waived unless such waiver is in writing and signed by the party to be charged therewith, and in no event by reason of any failure to assert or delay in asserting any such term, right or remedy or similar term,
right or remedy hereunder. 
 15.    GENERAL WARRANTIES. Each party hereto warrants and
represents to the other that each party has the full right, power, title and authority to enter into this Agreement. 

16.    NO ADMISSION OF LIABILITY/LATER REPRESENTATIONS. Neither this Agreement nor anything contained
in this Agreement shall be construed as an admission by Company that it has acted wrongfully with respect to Employee or other person, or that Employee has any rights whatsoever against Company. 

  
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 17.    DISPUTE RESOLUTION. Except for a claim by either
Employee or Company for injunctive relief where such would be otherwise authorized by law to enforce Sections 4 or 5 of this Agreement, any controversy or claim arising out of or relating to this Agreement, the breach hereof, by Company, including
without limitation any claim involving the interpretation or application of this Agreement, or claims for wrongful termination, discrimination, or other claims based upon statutory or common law, shall be submitted to binding arbitration in
accordance with the commercial arbitration rules then in effect of the Judicial Arbitration and Mediation Services (“JAMS”), to the extent not inconsistent with this Section as set forth below. The claim for arbitration will be made
to the office of the JAMS with authority to administer claims in Nevada. This Section 17 applies to any claim Employee might have against any officer, director, employee, or agent of Company or its Affiliate, and all successors and assigns of
any of them. These arbitration provisions shall survive the termination of Employee’s employment with Company and the expiration of the Agreement. 
 (a)    Coverage of Arbitration Agreement: The promises by Company and Employee to arbitrate differences, rather than litigate them before courts or other bodies, provide consideration
for each other, in addition to the other consideration provided under the Agreement. The parties contemplate by this Section 17 arbitration of all claims against each of them to the fullest extent permitted by law except as specifically
excluded by this Agreement. Only claims that are justiciable or arguably justiciable under applicable federal, state or local law are covered by this Section, and include, without limitation, any and all alleged violations of any federal, state or
local law whether common law, statutory, arising under regulation or ordinance, or any other law, brought by any current or former employee. Such claims may include, but are not limited to, claims for: wages or other compensation; breach of
contract; torts; work-related injury claims not covered under workers’ compensation laws; wrongful discharge; and any and all unlawful employment discrimination and/or harassment claims. This Section 17 excludes claims under state
workers’ compensation or unemployment compensation statutes; claims pertaining to any of Company’s employee welfare, insurance, benefit, and pension plans, with respect to which are applicable the filing and appeal procedures of such plans
shall apply to any denial of benefits; and claims for injunctive or equitable relief for violations of non-competition and/or confidentiality agreements in Sections 4 and 5. 
 (b)    Waiver of Rights to Pursue Claims in Court and to Jury Trial: This Section 17 does not in any manner waive any rights or remedies available under applicable statutes or
common law, but does waive Company’s and Employee’s rights to pursue those rights and remedies in a judicial forum and waive any right to trial by jury of any claims covered by this Section 17(a). By signing this Agreement, the
parties voluntarily agree to arbitrate any covered claims against each other. In the event of any administrative or judicial action by any agency or third party to adjudicate, on behalf of Employee, a claim subject to arbitration, Employee hereby
waives the right to participate in any monetary or other recovery obtained by such agency or third party in any such action, and Employee’s sole remedy with respect to any such claim will be any award decreed by an arbitrator pursuant to the
provisions of this Agreement. 
 (c)    Initiation of Arbitration: To commence arbitration of a claim
subject to this Section 17, the aggrieved party must, within the time frame provided in Section 17(d) below, make written demand for arbitration and provide written notice of that demand to the other party. If a claim is brought by
Employee against Company, such notice shall be given to Company’s Legal Department. Such written notice must identify and describe the nature of the claim, the supporting facts, and the relief or remedy sought. In the event that either party
files an action in any court to pursue any of the claims covered by this Section 17, the complaint, petition or other initial pleading commencing such court action shall be considered the demand for arbitration. In such event, the other party
may move that court to compel arbitration. In the event a claim is filed in a court of law, which claim should have been filed in arbitration and the court so rules, the non -court filing prevailing party shall be awarded all costs and attorney fees
expended to have the matter properly heard in arbitration. 
 (d)    Time Limit to Initiate Arbitration: To
ensure timely resolution of disputes, Employee and Company must initiate arbitration within the statute of limitations (deadline for filing) provided by applicable law pertaining to the claim, or one year, whichever is shorter, except that the
statute of limitations imposed by 

  
 - 6 -

 
relevant law will solely apply in circumstances where such statute of limitations cannot legally be shortened by private agreement. The failure to initiate arbitration within this time limit will
bar any such claim. The parties understand that Company and Employee are waiving any longer statutes of limitations that would otherwise apply, and any aggrieved party is encouraged to give written notice of any claim as soon as possible after the
event(s) in dispute so that arbitration of any differences may take place promptly. 
 (e)    Arbitrator
Selection: The parties contemplate that, except as specifically set forth in this Section 17, selection of one (1) arbitrator shall take place in the following manner. The arbitrator must have been admitted to and been a member in good
standing of such State Bar, for a minimum of 15 years or the arbitrator may have been a general jurisdiction trial judge with commercial dispute experience who retired as a judge in good standing after a minimum of 10 years of service.as a judge. If
the arbitrator is not a retired judge, the arbitrator must have at least 15 years’ experience on the JAMS arbitration panel and must have demonstrated experience in employment law. The arbitrators must reside in California or Nevada. The
parties will select one arbitrator from among a list of 15 qualified neutral arbitrators provided by JAMS. If the parties are unable to agree on the arbitrator from the panel provided, the parties will select an arbitrator by alternatively striking
names from the list of qualified arbitrators provided by JAMS. JAMS will flip a coin to determine which party has the final strike (that is, when the list has been narrowed by striking to two arbitrators). The remaining named arbitrator will be
selected. In the event that the selected arbitrator cannot serve, then the arbitrator who remained on the panel immediately before the final selection will be designated as the Arbitrator to hear the dispute. This procedure will repeat itself in the
event of subsequent recusals to serve by the arbitrators. 
 (f)    Arbitration Rights and Procedures:
Employee may be represented by an attorney of his/her choice at his/her own expense. Any arbitration hearing or proceeding will take place in private, not open to the public, in Clark County, Nevada. The arbitrator shall apply the substantive law
(and the law of remedies, if applicable) of Nevada (without regard to its choice of law provisions) and/or federal law when applicable. The arbitrator is without power or jurisdiction to apply any different substantive law or law of remedies or to
modify any term or condition of this Agreement. The arbitrator will have no power or authority to award non-economic damages or punitive damages except where such relief is specifically authorized by an applicable federal, state or local statute or
ordinance, or common law. In such a situation, the arbitrator shall specify in the award the specific statute or other basis under which such relief is granted. The applicable law with respect to privilege, including attorney-client privilege, work
product, and offers to compromise must be followed. The parties will have the right to conduct reasonable discovery, including written and oral (deposition) discovery and to subpoena and/or request copies of records, documents and other relevant
discoverable information consistent with the procedural rules of JAMS. The arbitrator will decide disputes regarding the scope of discovery and will have authority to regulate the conduct of any hearing. The arbitrator will have the right to
entertain a motion or request to dismiss, for summary judgment, or for other summary disposition. The parties will exchange witness lists at least 30 days prior to the hearing. The arbitrator will have subpoena power so that either Employee or
Company may summon witnesses. The arbitrator will use the Federal Rules of Evidence in connection with the admission of all evidence at the hearing. Both parties shall have the right to file post-hearing briefs. Any party, at its own expense, may
arrange for and pay the cost of a court reporter to provide a stenographic record of the proceedings. 

(g)    Arbitrator’s Award: The arbitrator will issue a written decision containing the specific issues raised by
the parties, the specific findings of fact, and the specific conclusions of law. The award will be rendered promptly, typically within 30 days after conclusion of the arbitration hearing, or after the submission of post-hearing briefs if requested.
The arbitrator shall have no power or authority to award any relief or remedy in excess of what a court could grant under applicable law. The arbitrator’s decision shall be final and binding on both parties. Judgment upon an award rendered by
the arbitrator may be entered in any court having competent jurisdiction. 
 (h)    Fees and Expenses:
Unless the law requires otherwise for a particular claim or claims, the party demanding arbitration bears the responsibility for payment of the fee to file with JAMS and the fees and expenses of the arbitrator shall be allocated by the JAMS under
its rules and procedures. Employee and Company 

  
 - 7 -

 
shall each pay his/her/its own expenses for presentation of their cases, including but not limited to attorney’s fees, costs, and fees for witnesses, photocopying and other preparation
expenses. If any party prevails on a statutory claim that affords the prevailing party attorney’s fees and costs, the arbitrator may award reasonable attorney’s fees and/or costs to the prevailing party, applying the same standards a court
would apply under the law applicable to the claim. 
 18.    FINAL INTEGRATED AGREEMENT. This
Agreement and other written agreements or sections thereof which are expressly referred to in this Agreement constitute the entire agreement and understanding of the parties hereto and supersedes any prior oral or written understandings, agreements
and undertakings with respect to its subject matter including but not limited to all provisions contained in the Employment Agreement that do not expressly survive under this Agreement. 

19.    TERMINATION OF AGREEMENTS. Employee and Company agree that, as of the Effective Date, the
Employment Agreement shall terminate and be of no further force or effect, except with respect to such provisions in the Employment Agreement which specifically provide that the such provisions shall survive the termination of the Employment
Agreement. Employee and Company agree that, as of the Effective Date, that certain Aircraft Time Sharing Agreement, dated as of November 26, 2002, as amended, between Company and Employee shall terminate and be of no further force or effect.

 20.    AGE DISCRIMINATION CLAIMS. 

a.    EMPLOYEE HEREBY ACKNOWLEDGES THAT BY EXECUTING THIS AGREEMENT EMPLOYEE IS AGREEING TO WAIVE ANY AND ALL RIGHTS
OR CLAIMS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967 (29 U.S.C. § 626 et. seq.). EMPLOYEE IS ADVISED TO CONSULT WITH AN ATTORNEY PRIOR TO EXECUTING THE AGREEMENT. IN ADDITION, EMPLOYEE ACKNOWLEDGES THAT UPON RECEIPT OF THIS
AGREEMENT, EMPLOYEE HAS A PERIOD OF TWENTY-ONE (21) DAYS WITHIN WHICH TO CONSIDER THE AGREEMENT BEFORE SIGNING IT. 

b.    EMPLOYEE FURTHER UNDERSTANDS THAT FOR A PERIOD OF SEVEN (7) DAYS FOLLOWING EMPLOYEE’S EXECUTION OF
THIS AGREEMENT, EMPLOYEE MAY REVOKE EMPLOYEE’S WAIVER OF ANY POTENTIAL AGE DISCRIMINATION CLAIM AND THIS AGREEMENT SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE AS TO ANY SUCH WAIVER OF AN AGE DISCRIMINATION CLAIM UNTIL THE REVOCATION PERIOD HAS
EXPIRED. HOWEVER, ALL OTHER ASPECTS OF THIS AGREEMENT, EXCEPT FOR EMPLOYEE WAIVER OF ANY POTENTIAL AGE DISCRIMINATION CLAIM, BECOMES EFFECTIVE AT THE TIME EMPLOYEE EXECUTES THIS AGREEMENT. 

c    The parties agree that the twenty-one (21) day consideration period shall start on the date upon which this
Agreement is presented to Employee or Employee’s counsel, and shall expire at midnight twenty-one (21) calendar days later. The parties further agree that the seven (7) day revocation period shall start on the date upon which the
Employee executes this Agreement, and shall expire at midnight seven (7) calendar days later. If Employee elects to sign this Agreement prior to the end of the twenty-one (21) day consideration period, the mandatory seven (7) day
revocation period will commence immediately the day after the date of execution. 
 d.    The parties hereby
agree that any modifications to the proposed Agreement originally forwarded to Employee or Employee’s counsel, whether considered or deemed to be material or nonmaterial, shall not restart the twenty-one (21) day consideration period.

 e.    Employee may sign this Agreement prior to the end of the twenty-one (21) day consideration
period, thereby commencing the mandatory seven (7) day revocation period. If the Employee does sign this Agreement before the end of the twenty-one (21) day consideration period, Employee affirms that the waiver of

  
 - 8 -

 
the twenty-one (21) day consideration period is knowing, voluntary, and not induced by Company through fraud, misrepresentation, a threat to withdraw or alter the offer prior to the
expiration of the time period, or by providing different terms to those persons who sign the release prior to the expiration of the time period. 
 IN WITNESS WHEREOF AND INTENDING TO BE LEGALLY BOUND THEREBY, the parties hereto have duly executed and delivered this Agreement as of the day and year first above written. 

 

							
	 EMPLOYEE
	 		 	WYNN RESORTS, LIMITED
				
	 /s/ Marc D. Schorr
	 		 		 	 /s/ Matt Maddox

	Marc D. Schorr	 		 	By:	 	 Matt Maddox

		 		 	Its:	 	 CFO

  
 - 9 -

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