Document:

Exhibit 10.2
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Rigel Pharmaceuticals, Inc.
NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
Each member of the Board of Directors (the “Board”) of Rigel Pharmaceuticals, Inc. (the “Company”) who is not also serving as an employee of the Company or any of its subsidiaries (each such member, an “Eligible Director”) will receive the compensation described in this Non-Employee Director Compensation Policy (this “Policy”). An Eligible Director may decline all or any portion of his or her compensation by giving notice to the Company prior to the date cash is to be paid or equity awards are to be granted, as the case may be. This Policy may be amended at any time in the sole discretion of the Board, or by the Compensation Committee of the Board at the recommendation of the Board.
Annual Cash Compensation
The annual cash compensation amount set forth below is payable to Eligible Directors in equal quarterly installments, payable in arrears on the last day of each fiscal quarter in which the service occurred. If an Eligible Director joins the Board or a committee of the Board at a time other than effective as of the first day of a fiscal quarter, each annual retainer set forth below will be pro-rated based on days served in the applicable fiscal year, with the pro-rated amount paid for the first fiscal quarter in which the Eligible Director provides the service, and regular full quarterly payments to be paid thereafter. All annual cash fees are vested upon payment.

		1.	Annual Board Service Retainer:

		a.	All Eligible Directors: $50,000

		b.	Non-executive chairperson of the Board: $90,000 (inclusive of Annual Board Service Retainer)

		2.	Annual Committee Member Service Retainer:

		a.	Member of the Audit Committee: $12,000

		b.	Member of the Compensation Committee: $10,000

		c.	Member of the Nominating and Corporate Governance Committee: $10,000

		d.	Member of the Finance Committee: $5,000

		e.	Member of the Scientific and Clinical Trial Advisory Committee: $10,000

		3.	Annual Committee Chair Service Retainer (inclusive of Committee Member Service Retainer):

		a.	Chairperson of the Audit Committee: $22,000

		b.	Chairperson of the Compensation Committee: $15,000

		c.	Chairperson of the Nominating and Corporate Governance Committee: $15,000

		d.	Chairperson of the Finance Committee: $10,000

		e.	Chairperson of the Scientific and Clinical Trial Advisory Committee: $15,000

The Company will also reimburse each of the Eligible Directors for his or her travel expenses incurred in connection with his or her attendance at Board and committee meetings. Travel expenses include reasonable air and ground transportation, meals, and hotel. Eligible expenses incurred must be itemized and submitted for payment with receipts attached.
Equity Compensation
The equity compensation set forth below will be granted under the Company’s 2018 Equity Incentive Plan (as amended, the “Plan”), subject to the approval of the Plan by the Company’s stockholders. All stock options granted under this Policy will be non-statutory stock options, with an exercise price per share equal to 100% of the Fair Market Value (as defined in the Plan) of the underlying common stock on the date of grant, and a term of 10 years from the date of grant (subject to earlier termination in connection with a termination of service as provided in the Plan).

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		1.	Initial Grant: Without any further action of the Board, each person who is elected or appointed for the first time to be a Non-Employee Director automatically shall, upon the date of his or her initial election or appointment to be a Non-Employee Director by the Board or stockholders of the Company, be granted an Initial Grant as an Option to purchase eighty thousand (80,000) shares of Common Stock on the terms and conditions set forth herein. Notwithstanding the foregoing, the Initial Grant may be in the form of a Restricted Stock Unit Award that covers a number of shares that has a value equal to an Option to purchase eighty thousand (80,000) shares of Common Stock (calculating the value of each such type of Stock Award based on the grant date fair value of such Stock Award for financial reporting purposes). Each Stock Award that is an option to purchase granted as an Initial Grant shall vest in accordance with the schedule set forth below that results in a shorter period of full vesting: (i) 1/36th of the shares of Common Stock subject to the Initial Grant shall vest each month after the date of grant over a period of three (3) years; or (ii) the Initial Grant shall vest in equal monthly installments after the date of grant over a period commencing on the date that the Non-Employee Director is appointed for the first time to be a Non-Employee Director by the Board and ending on the date of the Annual Meeting at which the Non-Employee Director is first scheduled to be considered for election to be a Non-Employee Director by the stockholders of the Company.  Restricted Stock Unit Awards granted as an Initial Grant shall vest in three equal sums on the date prior to the next three Annual Meetings of the Company, respectively, after appointment to the Board.

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		2.	Annual Grant:  Without any further action of the Board, a Non-Employee Director shall be granted an Annual Grant as follows: On the day following each Annual Meeting commencing with the Annual Meeting in 2021, each person who is then a Non-Employee Director automatically shall be granted an Annual Grant as (i) an Option to purchase thirty thousand (30,000) shares of Common Stock and (ii) twenty-five thousand (25,000) Restricted Stock Unit Awards.  If the person has not been serving as a Non-Employee Director for the entire period since the preceding Annual Meeting, then the number of shares subject to the Annual Grant shall be reduced pro rata for each full quarter prior to the date of grant during which such person did not serve as a Non-Employee Director. Each Annual Grant shall vest such that 1/12th of the shares of Common Stock subject to such Annual Grant shall vest each month after the date of grant over a period of one (1) year and the Restricted Stock Unit Awards shall vest on the date prior to the Company’s next Annual Meeting.

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 Compensation Limits Set in Equity Plan
If, with respect to an Annual Period (as defined in the Plan), the aggregate value of all compensation granted or paid, as applicable, to any individual for service as a Non-Employee Director exceeds the applicable limit on compensation paid to Non-Employee Directors contained in the Plan, then the compensation paid to such individual under this Policy shall be reduced in accordance with an independent compensation advisor.
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Approved by the Compensation Committee of the Board of Directors: March 9, 2021
Ratified by the Board of Directors: April 5, 2021
Effective: March 9, 2021

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2Document

            Exhibit 10.9    

FIRST AMENDMENT
TO
Seventh Amended and Restated 
MASTER THROUGHPUT AGREEMENT

This First Amendment to the Seventh Amended and Restated Master Throughput Agreement (“this “Amendment”) by and between HOLLYFRONTIER REFINING & MARKETING LLC (“HFRM”) and HOLLY ENERGY PARTNERS-OPERATING, L.P. (“HEP Operating”) is dated as of April 30, 2021, to be effective as of April 1, 2021 (the “Effective Date”). Each of HFRM and HEP Operating are referred to collectively herein as the “Parties.”  

WHEREAS, HEP Operating completed a sale of its six inch diameter refined products pipelines from Artesia, New Mexico to El Paso, Texas; and

WHEREAS, the Parties desire to amend certain provisions of the Seventh Amended and Restated Master Throughput Agreement, dated effective as of January 1, 2021, by and between the Parties (the “Agreement”) to reflect the foregoing as set forth herein.

NOW, THEREFORE, in consideration of the covenants and obligations contained herein, the Parties hereby agree as follows:

ARTICLE 1.
AMENDMENTS

a.Amendment to Exhibit N-1.  Exhibit N-1 attached to the Agreement is hereby deleted and replaced in its entirety with Exhibit N-1 attached to this Amendment.

ARTICLE 2.
MISCELLANEOUS 

i.Counterparts.  This Amendment may be executed in counterparts each of which shall be deemed an original. An executed counterpart of this Amendment transmitted by facsimile shall be equally as effective as a manually executed counterpart.

ii.Successors and Assigns. Section 13.2 of the Agreement is hereby incorporated by reference into this Section 2.2, mutatis mutandis.

iii.Entire Agreement. The Agreement, as amended by this Amendment, contains the entire agreement between the Parties as to the subject matter of the Agreement and, except as provided for in this Amendment, the terms and provisions of the Agreement shall remain in full force and effect as originally written.  

[Remainder of page intentionally left blank.  Signature pages follow.]
1

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

HEP OPERATING:    

    Holly Energy Partners-Operating, L.P.

By:      /s/ Richard L. Voliva III
Richard L. Voliva III
President

HFRM:

    HollyFrontier Refining & Marketing LLC

By:      /s/ Tim Go
Tim Go
Executive Vice President and Chief Operating Officer

[Signature Page 1 of 2 to the First Amendment to the Seventh Amended and Restated Master Throughput Agreement]

ACKNOWLEDGED:

HOLLYFRONTIER CORPORATION

By: /s/ Michael C. Jennings
Name: Michael C. Jennings
Title:   President and Chief Executive Officer

HOLLY ENERGY PARTNERS, L.P.

By:    HEP Logistics Holdings, L.P.,
    its General Partner

By:    Holly Logistic Services, L.L.C.,
    its General Partner

By: /s/ John Harrison
Name: John Harrison
Title:   Senior Vice President, Chief Financial Officer and Treasurer

[Signature Page 2 of 2 to the First Amendment to the Seventh Amended and Restated Master Throughput Agreement]

Exhibit N-1
to
Seventh Amended and Restated
Master Throughput Agreement
(as amended)
			
	

Refined Products Pipelines

															
	Pipeline	Origin and Destination	Miles of Pipeline	Diameter
(inches)
	Capacity
(Bpd)

	South System	Artesia, NM to Orla, TX to El Paso, TX	221	12/8	95,000
	Artesia, NM to El Paso, TX
(Magellan El Paso Terminal)
	210	12	100,000
	Artesia Moriarty	Artesia, NM to Moriarty, NM	215	12/8	27,000
	Artesia Bloomfield	Artesia, NM to Bloomfield, NM	406	12/8	Same as above

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