Document:

EX-4.1

 Exhibit 4.1 

[Form of Note] 
 (FACE OF
NOTE) 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR
A NOMINEE OF A DEPOSITORY. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM IN ACCORDANCE WITH THE PROVISIONS OF THE INDENTURE AND THE TERMS OF THE SECURITIES, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT
AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITORY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO AT&T INC., OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 AT&T INC. 

5.625% Global Notes due 2067 
  

			
		  	CUSIP NO. [•]
		  	ISIN NO. [•]
		
	No. R-[•]	  	$500,000,000

 AT&T Inc., a corporation duly organized and existing under the laws of the State of Delaware (herein
called “AT&T”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of Five Hundred Million
Dollars ($500,000,000) on August 1, 2067 (the “Maturity Date”), and to pay interest on said principal sum from August 1, 2018 or from the most recent Interest Payment Date to which interest has been paid or duly provided for,
quarterly in arrears on February 1, May 1, August 1 and November 1 in each year, commencing on November 1, 2018 (each an “Interest Payment Date”) and on the Maturity Date, at the interest rate of 5.625% per annum,
until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Note (or
one or more 

 
predecessor Notes) is registered at the close of business on the Regular Record Date for such interest, which shall be the close of business on the fifteenth day preceding the respective Interest
Payment Date (each, a “Regular Record Date”). Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name
this Note (or one or more predecessor Notes) is registered at the close of business on a special record date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Notes not less than 15
days prior to such special record date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange,
all as more fully provided in said Indenture. 
 Any money that AT&T deposits with the Trustee or its Paying Agent for the payment of
principal or any interest on this Note that remains unclaimed for two years after the date upon which the principal and interest are due and payable, will be repaid to AT&T upon AT&T’s request unless otherwise required by mandatory
provisions of any applicable unclaimed property law. After that time, unless otherwise required by mandatory provisions of any unclaimed property law, the Holder of this Note will be able to seek any payment to which such Holder may be entitled to
collect only from AT&T. 
 If the Notes are issued in definitive form, payment of the principal and interest on this Note due at the
Maturity Date or upon redemption will be made at the Maturity Date or upon redemption, as the case may be, upon presentation of this Note, in immediately available funds, at the office of The Bank of New York Mellon Trust Company, N.A., the Paying
and Transfer Agent and Registrar for the Notes, currently located at 601 Travis Street, 16th Floor, Houston, Texas 77002. 

Payment of interest on this Note due on an Interest Payment Date, other than interest at maturity or upon redemption, may be paid by check
mailed to the address of the Holder entitled thereto as such address shall appear in the Note register. Notwithstanding the foregoing, (1) the Depository as Holder of the Notes or (2) a Holder of more than U.S.$5,000,000 in aggregate
principal amount of Notes in definitive form is entitled to require the Paying Agent to make payments of interest, other than interest due at maturity or upon redemption, by wire transfer of immediately available funds into an account maintained by
the Holder in the United States, by sending appropriate wire transfer instructions as long as the Paying Agent receives the instructions not less than ten days prior to the applicable Interest Payment Date. 

Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 

  
 2 

 Unless the certificate of authentication hereon has been executed by the Trustee referred to
on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 3 

 IN WITNESS WHEREOF, AT&T INC. has caused this instrument to be signed in its corporate
name, manually or by facsimile, by its duly authorized officers and has caused its corporate seal to be imprinted hereon. 
  

							
	Dated: August 1, 2018	 		 	AT&T INC.
	  
 [SEAL]
	 	
				
		 		 	By:	 	 
		 		 		 	George B. Goeke
		 		 		 	 Senior Vice President
 and
Treasurer

				
		 		 	By:	 	 
		 		 		 	Julianne K. Galloway
		 		 		 	Vice President and Assistant Treasurer

 Trustee’s Certificate of Authentication 

This is one of the 5.625% Global Notes due 2067 
 of the series
designated herein referred to 
 in the within-mentioned Indenture. 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., 
 as Trustee

  

									
				
	By:	 	 	 		 	Dated: August 1, 2018
		 	Authorized Signatory	 		 		 	

 REVERSE OF NOTE 

This Note is one of a duly authorized issue of debt securities of AT&T of the series specified on the face hereof, issued under and
pursuant to an Indenture, dated as of May 15, 2013, between AT&T and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee,” which term includes any successor Trustee under the Indenture), to which indenture
and all indentures supplemental thereto (collectively, the “Indenture”) reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, AT&T and the Holders
of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. The Notes will be issued in fully registered form only and in minimum denominations of $25 and integral multiples of $25 thereafter. This Note is one
of the series designated on the face hereof initially limited in aggregate principal amount to $750,000,000. 
 The Indenture permits, with
certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of AT&T and the rights of the Holders of the Notes under the Indenture at any time by AT&T and the Trustee with the consent of
the Holders of a majority in principal amount of the Notes at the time outstanding. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes at the time outstanding to waive compliance
by AT&T with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future
Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of AT&T, which
is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

Registrar and Paying Agent 

AT&T shall maintain in the Borough of Manhattan, The City of New York, an office or agency where Notes may be surrendered for registration
of transfer or exchange (“Registrar”) and an office or agency where Notes may be presented for payment or for exchange (“Paying Agent”). AT&T has initially appointed the Trustee, The Bank of New York Mellon Trust Company,
N.A., as its Registrar and Paying Agent. AT&T may vary or terminate the appointment of any of its paying or transfer agencies, and may appoint additional paying or transfer agencies. 

 Optional Redemption by AT&T 

AT&T may, at its option, redeem the Notes, in whole or in part, at any time and from time to time on or after August 1, 2023, on at
least 30 days’, but not more than 60 days’, prior notice mailed (or otherwise transmitted in accordance with DTC procedures) to the registered address of each holder of the Notes to be redeemed. The redemption price will be equal to 100%
of the principal amount of the Notes to be redeemed plus accrued but unpaid interest to, but excluding, the redemption date. 
 On and after
the redemption date, interest will cease to accrue on the Notes or any portion of the Notes called for redemption, unless AT&T defaults in the payment of the redemption price and accrued interest. On or before the redemption date, AT&T will
deposit with its Paying Agent or the Trustee money sufficient to pay the redemption price of and accrued interest on the Notes to be redeemed on that date. 

In the case of any partial redemption, selection of the Notes to be redeemed will be made in accordance with applicable procedures of DTC.

 Payment of Additional Amounts 

AT&T will, subject to the exceptions and limitations set forth below, pay as additional interest on this Note such additional amounts
(“Additional Amounts”) as are necessary so that the net payment by AT&T or its Paying Agent of the principal of and interest on this Note to a person that is a United States Alien, after deduction for any present or future tax,
assessment or governmental charge of the United States or a political subdivision or taxing authority thereof or therein, imposed by withholding with respect to the payment, will not be less than the amount that would have been payable in respect of
this Note had no withholding or deduction been required. As used herein, “United States Alien” means any person who, for United States federal income tax purposes, is a foreign corporation, a
non-resident alien individual, a non-resident alien fiduciary of a foreign estate or trust, or a foreign partnership one or more of the members of which is, for United
States federal income tax purposes, a foreign corporation, a non-resident alien individual or a non-resident alien fiduciary of a foreign estate or trust. 

The foregoing obligation to pay Additional Amounts shall not apply: 

(1) to any tax, assessment or governmental charge that is imposed or withheld solely because the beneficial owner, or a
fiduciary, settlor, beneficiary or member of the beneficial owner if the beneficial owner is an estate, trust or partnership, or a person holding a power over an estate or trust administered by a fiduciary holder: 

(a) is or was present or engaged in a trade or business in the United States, has or had a permanent establishment in the
United States, or has any other present or former connection with the United States or any political subdivision or taxing authority thereof or therein; 

(b) is or was a citizen or resident or is or was treated as a resident of the United States; 

  
 2 

 (c) is or was a foreign or domestic personal holding company, a passive
foreign investment company or a controlled foreign corporation with respect to the United States or is or was a corporation that has accumulated earnings to avoid United States federal income tax; 

(d) is or was a bank receiving interest described in Section 881(c)(3)(A) of the Internal Revenue Code of 1986, as amended
(the “Code”); or 
 (e) is or was an actual or constructive owner of 10% or more of the total combined voting power
of all classes of stock of AT&T entitled to vote; 
 (2) to any Holder that is not the sole beneficial owner of the
Notes, or a portion thereof, or that is a fiduciary or partnership, but only to the extent that the beneficial owner, a beneficiary or settlor with respect to the fiduciary, or a member of the partnership would not have been entitled to the payment
of an Additional Amount had such beneficial owner, beneficiary, settlor or member received directly its beneficial or distributive share of the payment; 

(3) to any tax, assessment or governmental charge that is imposed or withheld solely because the beneficial owner or any other
person failed to comply with certification, identification or information reporting requirements concerning the nationality, residence, identity or connection with the United States of the Holder or beneficial owner of the Notes, if compliance is
required by statute, by regulation of the United States Treasury Department or by an applicable income tax treaty to which the United States is a party as a precondition to exemption from such tax, assessment or other governmental charge; 

(4) to any tax, assessment or governmental charge that is imposed other than by deduction or withholding by AT&T or a
paying agent from the payment; 
 (5) to any tax, assessment or governmental charge that is imposed or withheld solely
because of a change in law, regulation, or administrative or judicial interpretation that is announced or becomes effective after the day on which the payment becomes due or is duly provided for, whichever occurs later; 

(6) to an estate, inheritance, gift, sales, excise, transfer, wealth or personal property tax or any similar tax, assessment or
governmental charge; 
 (7) to any tax, assessment or other governmental charge any paying agent (which term may include
AT&T) must withhold from any payment of principal of or interest on any Note, if such payment can be made without such withholding by any other paying agent; or 

(8) in the case of any combination of the above items. 

  
 3 

 In addition, any amounts to be paid on this Note will be paid net of any deduction or
withholding imposed or required pursuant to Sections 1471 through 1474 of the Code, any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or
regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code, and no Additional Amounts will be required to be paid on account of any
such deduction or withholding. 
 The Notes are subject in all cases to any tax, fiscal or other law or regulation or administrative or
judicial interpretation applicable. Except as specifically provided under this section entitled “Payment of Additional Amounts” and under the heading “Redemption Upon a Tax Event”, AT&T shall not have to make any payment with
respect to any tax, assessment or governmental charge imposed by any government or a political subdivision or taxing authority. 
 Any
reference in the terms of the Notes to any amounts in respect of the Notes shall be deemed also to refer to any Additional Amounts which may be payable under this provision. 

Redemption Upon a Tax Event 

If (a) AT&T becomes or will become obligated to pay Additional Amounts as a result of any change in, or amendment to, the laws (or any
regulations or rulings promulgated thereunder) of the United States (or any political subdivision or taxing authority thereof or therein), or any change in, or amendments to, any official position regarding the application or interpretation of such
laws, regulations or rulings, which change or amendment is announced or becomes effective, on or after July 25, 2018 or (b) a taxing authority of the United States takes an action on or after July 25, 2018, whether or not with respect
to AT&T or any of its affiliates, that results in a substantial probability that AT&T will or may be required to pay such Additional Amounts, then AT&T may, at its option, redeem, as a whole, but not in part, the Notes on any Interest
Payment Date on not less than 30 nor more than 60 calendar days’ prior notice, at a redemption price equal to 100% of their principal amount, together with interest accrued thereon to the date fixed for redemption. No redemption pursuant to
(b) above may be made unless AT&T shall have received an opinion of independent counsel to the effect that an act taken by a taxing authority of the United States results in a substantial probability that AT&T will or may be required to
pay the Additional Amounts and AT&T shall have delivered to the Trustee a certificate, signed by a duly authorized officer, stating that based on such opinion, AT&T is entitled to redeem the Notes pursuant to their terms. 

Further Issues 
 AT&T
reserves the right from time to time, without notice to or the consent of the Holders of the Notes, to create and issue further notes ranking equally and ratably with the Notes in all respects, or in all respects except for the payment of interest
accruing prior to the issue date or except for the first payment of interest following the issue date of those further notes. Any further notes will have the same terms as to status, redemption or otherwise as, and will be fungible for United States
federal income tax purposes with, the Notes. Any further notes shall be issued pursuant to a resolution of the board of directors of AT&T, a supplement to the Indenture, or under an officers’ certificate pursuant to the Indenture. 

  
 4 

 Notes in Definitive Form 

If (1) an Event of Default has occurred with regard to the Notes represented by this Note and has not been cured or waived in accordance
with the Indenture, or (2) the Depository is at any time unwilling or unable to continue as depository and a successor depository is not appointed by AT&T within 90 days, AT&T may issue notes in definitive form in exchange for this
Note. In either instance, an owner of a beneficial interest in the Notes will be entitled to the physical delivery in definitive form in exchange for this Note, equal in principal amount to such beneficial interest and to have such Notes registered
in its name. 
 Notes so issued in definitive form will be issued as registered notes in minimum denominations of $25 and integral multiples
of $25, unless otherwise specified by AT&T. 
 Notes so issued in definitive form may be transferred by presentation for registration to
the Registrar at its New York office and must be duly endorsed by the Holder or the Holder’s attorney duly authorized in writing, or accompanied by a written instrument or instruments of transfer in form satisfactory to AT&T or the Trustee
duly executed by the Holder or his attorney duly authorized in writing. 
 AT&T may require payment of a sum sufficient to cover any tax
or other governmental charge that may be imposed in connection with any exchange or registration of transfer of definitive Notes. 

Default 
 In case an Event
of Default, as defined in the Indenture, shall have occurred and be continuing, the principal hereof may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject to the conditions provided in
the Indenture. 
 Miscellaneous 

For purposes of the Notes, a Business Day means a business day in The City of New York. 

No director, officer, employee or stockholder, as such, of AT&T shall have any liability for any obligations of AT&T under this Note,
the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder by accepting this Note waives and releases all such liability. The waiver and release are part of the consideration for the issue
of this Note. 

  
 5 

 The Notes are the unsecured and unsubordinated obligations of AT&T and will rank
pari passu with all other evidences of indebtedness issued in accordance with the Indenture. 
 Notices to Holders of the
Notes will be given only to the depositary, in accordance with its applicable policies as in effect from time to time. 
 Prior to due
presentment of this Note for registration of transfer, AT&T, the Trustee and any agent of AT&T or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be
overdue, and neither AT&T, the Trustee nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Note
which are defined in the Indenture shall have the meanings assigned to them in the Indenture.  
 The Indenture and this Note
shall be governed by and construed in accordance with the laws of the State of New York. 

  
 6Exhibit

Exhibit 10.3

	
				
	3/22/2018
	 
	BKEP Contact:
	Bryan Adcock

	 
	 
	BKEP Contract #:
	2018-00097

	 
	 
	Ergon’s BKEP Contract:
	 

	 
	 
	 
	(Please Supply)

    
CONFIRMATION OF AGREEMENT
	
		
	Company:
	Ergon Oil Purchasing, Inc.

	 
	 

	Marketer:
	Barton Lampton

	 
	 

	 
	P.O. Box 1308

	 
	 

	 
	Jackson, MS 39215

	 
	 

	Email:
	Barton.Lampton@ergon.com

Ergon’s Sale and Delivery to BKEP
This agreement (“Original Agreement”) is made between BKEP Supply and Marketing LLC (“BKEP”) and Ergon Oil Purchasing, Inc.  (“Ergon”) whereby Ergon agrees to sell and deliver and BKEP agrees to purchase and receive crude oil and/or condensate under the terms and conditions set forth herein:
    	
			
	1.
	Quality:
	Oklahoma Sweet Crude Oil

	 
	 
	 

	2.
	Quantity:
	100% of Seller’s owned or controlled production from the leases listed in Exhibit A

	 
	 
	 

	3.
	Price:
	Price as indicated on Exhibit A

	 
	 
	 

	4.
	Term:
	Commencing April 1, 2018 through April 30, 2018, thereafter month to month until either party provides thirty (30) days’ advance written notice of cancellation

	 
	 
	 

	5.
	Payment:
	Commencing April 1, 2018 through April 30, 2018, thereafter month to month until either party provides thirty (30) days’ advance written notice of cancellation

	 
	 
	 

	6.
	Payment:
	Commencing April 1, 2018 through April 30, 2018, thereafter month to month until either party provides thirty (30) days’ advance written notice of cancellation

	 
	 
	 

	7.
	General Terms and Provisions:
	All other terms and conditions not specifically stated shall be governed by COP General Provisions as revised January 1, 2017, and by Exhibit B, both attached hereto and made a part hereof:

The confirmation sets forth BKEP’s and Ergon’s understanding of the terms of our agreement. Please notify our Contract Administrator in writing by email or fax - with specific reference to the BKEP contract number provided above - of your acceptance of the terms and conditions set forth in this confirmation, upon which this confirmation shall be final and binding on all parties. Additional terms other than commercial terms submitted with any such notice will not form a part of our agreement unless otherwise expressly agreed to in writing by the parties
Questions may be directed to the Contract Administrator, Kathryn Stephens, at: phone (405) 278-6441, fax 
(405) 278-6479 or KStephens@bkep.com .
	
					
	BUYER:
	 
	SELLER:

	 
	 
	 
	 
	 

	BKEP Supply and Marketing LLC  
	 
	Ergon Oil Purchasing, Inc.

	 
	 
	 
	 
	 

	By
	/s/ Brian L Melton
	 
	Signed
	/s/ Leslie Barton Lampton, IV

	 
	 
	 
	 
	 

	Title
	Chief Commercial Officer
	 
	Printed Name
	Vice President-General Manager

	 
	 
	 
	 
	 

	Date
	3/28/2018
	 
	Date
	3/22/2018

Sincerely,

BKEP Supply and Marketing LLC

GENERAL PROVISIONS

DOMESTIC CRUDE OIL AND CONDENSATE AGREEMENTS

A.     Measurement and Tests:     All measurements hereunder shall be made in accordance with the ConocoPhillips Company Crude Oil and Condensate Quantity and Quality Determination Guidelines attached as Appendix 1. The Product delivered hereunder shall be marketable and acceptable in the applicable common or segregated stream of the carriers involved but not to exceed 1% S&W. 

B.     Warranty:     The Seller warrants good title to all Product delivered hereunder and warrants that such Product shall be free from all royalties, liens, and encumbrances (except for any statutory lien applicable where Buyer is the first purchaser of the Product). 

Seller further warrants that the Product delivered shall not be contaminated by chemicals foreign to virgin Product and its production including, but not limited to chlorinated and/or oxygenated hydrocarbons and lead. Buyer shall have the right, without prejudice to any other remedy available to Buyer, to reject and return to Seller any quantities of Product which are found to be so contaminated, even after delivery to Buyer. 

Except as expressly set forth in Section B, Seller makes no other warranties, express or implied, including without limitation any implied warranty of merchantability or fitness for any particular purpose. 

C.     Rules and Regulations:    The terms, provisions and activities undertaken pursuant to this Agreement shall be subject to, and each party shall comply with, all applicable laws, orders and regulations of all governmental authorities. If at any time a provision hereof violates any such applicable laws, orders or regulations, such provision shall be voided and the remainder of the Agreement shall continue in full force and effect unless terminated by either party upon giving written notice to the other party hereto. 

D.     Hazard Communication:    Seller shall provide or make available its Safety Data Sheet ("SDS") to Buyer. Buyer acknowledges that it is familiar with the Product and is sophisticated and knowledgeable of the hazards and risks associated with the Product. Buyer shall read the SDS and advise its employees, its affiliates, and third parties, who may purchase or come into contact with such Product, about the hazards of the Product, as well as the precautionary procedures for handling said Product, which are set forth in such SDS and any supplementary SDS or written warning(s) which Seller may provide to Buyer from time to time. Each party acknowledges that it will comply with all safety and health related governmental requirements concerning the Product, including its handling, transportation, storage and use. The Parties acknowledge that the SDS for any Product sold by COP hereunder is made available by COP at: 

 http://www.conocophillips.com/sustainable-development/safety-health/Pages/safety-data-sheets.aspx. 

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Rev. Jan. 1, 2017
ConocoPhillips Company 

E.     Force Majeure:    Except for payment due hereunder, either party hereto shall be relieved from liability for failure to perform hereunder for the duration and to the extent its performance is prevented by war, riots, insurrections, fire, explosions, sabotage, strikes, and other labor or industrial disturbances, acts of God or the elements, governmental laws, regulations, sanctions, or requests, acts in furtherance of a program of the International Energy Agency, disruption or breakdown of production or transportation facilities, delays of pipeline carrier in receiving and delivering Product tendered, or by any other cause, whether similar or not, reasonably beyond the control of such party (Force Majeure). Neither party shall be required to supply substitute quantities from other sources of supply. Failure to perform due to events of Force Majeure shall not extend the term of this Agreement except to the extent necessary to comply with the provisions of Section J (Buy/Sell and Exchange Balancing). The party declaring a Force Majeure situation (the Declaring Party) shall take commercially reasonable steps to ameliorate the cause of such Force Majeure event to enable it to resume performance during the term of this Agreement. 

In addition to the above, and in the event substantially similar volumes are intended to be bought and sold or exchanged under this Agreement, the parties shall have the rights and obligations set forth in the circumstances described below: 

(1)    If, because of Force Majeure, the Declaring Party is unable to deliver part or all of the quantity of Product which it is obligated to deliver under this Agreement, the other party shall have the right, but not the obligation, to reduce its deliveries of Product under this Agreement to match the volume actually delivered by the Declaring Party. 

(2)    If, because of Force Majeure, the Declaring Party is unable to take part or all of the quantity of Product which it is obligated to take under this Agreement, the other party shall have the right, but not the obligation, to reduce its receipts of Product under this Agreement to match the volume actually taken by the Declaring Party. 

The Declaring Party must provide prompt notice to the other party. Initial notice may be given orally, but written notice with reasonably full particulars of the event or occurrence is required as soon as reasonably possible. Upon providing written notice of Force Majeure to the other party, the Declaring Party will be relieved of its obligation, from the onset of the Force Majeure event, to make or accept delivery, as applicable, to the extent and for the duration of the Force Majeure, and neither party shall be deemed to have failed in such obligations to the other during such occurrence or event. 

F.    Payment:    Unless otherwise specified in the Special Provisions of this Agreement, Buyer agrees to make payment against Seller's invoice for the Product purchased hereunder to a bank designated by Seller in U.S. dollars by wire transfer in immediately available funds. Unless otherwise specified in the Special Provisions of this Agreement, payment will be due on or before the 20th of the month following the month of delivery or within 10 business days after receipt of the invoice, whichever is later. If payment due date is on a Saturday or New York bank holiday other than Monday, payment shall be due on the preceding New York banking day. If payment due date is on a Sunday or a 

Page 2 of 9

Rev. Jan. 1, 2017
ConocoPhillips Company 

Monday New York bank holiday, payment shall be due on the succeeding New York banking day. 

Payment shall be deemed to be made on the date good funds are credited to Seller's account at Seller's designated bank. 

In the event that Buyer fails to make any payment when due, Seller shall have the right to charge interest on the amount of the overdue payment at a per annum rate which shall be two percentage points higher than the then-effective prime rate of interest published under Money Rates by the Wall Street Journal on the date payment was due, but not to exceed the maximum rate permitted by law. 

G.     Financial Responsibility:    Notwithstanding anything to the contrary in this Agreement, should Seller reasonably believe it necessary to assure payment, Seller may at any time require, by written notice to Buyer, advance cash payment or satisfactory security in the form of a Letter or Letters of Credit at Buyer's expense in a form and from a bank acceptable to Seller (Payment Assurance), to cover any or all deliveries of Product. If Buyer does not provide Payment Assurance on or before the date specified in Seller's notice under this section (which date shall be no less than two Business Days after such notice is received), or if Payment Assurance is required under the Special Provisions of this Agreement and Buyer does not provide same, then Seller may terminate this Agreement forthwith. In no event shall Seller be obligated to schedule or complete delivery of the Product until said Payment Assurance is received by and found acceptable to Seller. 

If a party to this Agreement should (1) become the subject of bankruptcy or other insolvency proceedings, or proceedings for the appointment of a receiver, trustee, or similar official, (2) become generally unable to pay its debts as they become due, or (3) make a general assignment for the benefit of creditors, such an event shall be an Insolvency Event and the other party to this Agreement may withhold shipments without notice. 

H.     Default and Remedies: 

(1)     Rights of Parties.     At any time after the occurrence of an Event of Default, the other party to the Agreement (the "Non-Defaulting Party") shall have the right, at its sole discretion, to suspend performance, and/or to terminate and liquidate this Agreement upon giving written notice to the Defaulting Party. Upon termination, the parties shall have no further rights or obligations with respect to this Agreement, except for the payment of the amount(s) (the "Settlement Amount" or "Settlement Amounts") determined as provided in Paragraph (2) of this section and any unpaid amounts. 

(2)     Settlement Amount.     The Settlement Amount under this Agreement shall be equal to the aggregate of (i) the portion(s) of the contract quantity(ies) of Product not yet delivered, multiplied by the difference between the applicable contract price per Barrel specified in this Agreement (the "Contract Price") and the applicable market price per Barrel of Product on the date the Non-Defaulting Party terminates this Agreement (the 

Page 3 of 9

Rev. Jan. 1, 2017
ConocoPhillips Company 

"Market Price") and (ii) any Unpaid Amounts, with amounts under clause (i) expressed as owed to the Seller, if the Market Price is less than the Contract Price, or expressed as owed to the Buyer, if the Market Price is greater than the Contract Price. 

(3)     Market Price.         Unless otherwise provided in this Agreement, the Market Price of Product sold or exchanged under this Agreement shall be the market price for a similar sale of Product at the same delivery location, as determined by the Non-Defaulting Party in a commercially reasonable manner. 

(4)     Payment of Settlement Amount.     The Settlement Amount due upon termination of this Agreement shall be aggregated and the Non-Defaulting Party may elect to set off any amount that would be payable to the Defaulting Party against any amounts payable by the Defaulting Party or its affiliates to the Non-Defaulting Party or its affiliates under any other agreement or arrangement. The party owing the net amount after such aggregation and set off shall pay such net amount to the other party in immediately available funds within two Business Days after the date on which the Non-Defaulting Party gives notice of the amount owed. 

(5)     Forward Contract.     The parties hereby acknowledge that each party is a forward contract merchant and this Agreement constitutes a forward contract for purposes of Section 556 of the U.S. Bankruptcy Code. 

(6)     Miscellaneous.     This section shall not limit the rights and remedies available to the Non-Defaulting Party (whether by law or under other provisions of this Agreement or otherwise). 

I.     Equal Daily Deliveries:    For pricing purposes only, unless otherwise specified in the Special Provisions, all Product delivered hereunder during any calendar month shall be considered to have been delivered in equal daily quantities during such month. 

J     Buy/Sell and Exchange Balancing:     The terms of this Section J shall only apply to this Agreement if substantially similar volumes are intended to be bought and sold or exchanged under this Agreement: 

(1)    Each party shall be responsible for maintaining the volumes bought and sold or exchanged in balance on a month-to-month basis, as near as reasonably possible. 

(2)    If, for any reason (including events of Force Majeure), a party complies with the requirements of Section J(1) but fails to deliver or accept delivery of the contractually specified volume during any month (an Imbalance Month), then the party that delivered the lesser volume during the Imbalance Month (the Underdelivering Party) shall deliver to the other party a volume of Product equal to the difference between (a) the volume delivered by the Underdelivering Party during the Imbalance Month, and (b) the volume delivered by the other party during the Imbalance Month (such difference being the Imbalance Volume). The Imbalance Volume shall be delivered as soon after the Imbalance Month as is reasonably practicable it being understood that the parties shall endeavor to cause the Imbalance Volumes confirmed by the 20th day of the Imbalance 
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Month to be delivered during the immediately following calendar month, and the Imbalance Volumes confirmed after the 20th day of the Imbalance month to be delivered during the second calendar month after the Imbalance Month, except to the extent prevented by a new or continued event of Force Majeure. 

(3)    When a party fails to deliver or accept delivery of the contractually specified volume during an Imbalance Month due to an event of Force Majeure, if the Imbalance Volume has not been delivered before the end of the second calendar month after the Imbalance Month, and if no other resolution of the Imbalance Volumes has been agreed between the Parties, during the third month after the Imbalance Month, the Underdelivering Party shall deliver, and the other party shall take, an amount of Product equal to the Imbalance Volume, and such delivery shall be of the same type of Product, at the same location and (except as provided in Section J(4) below) at the same price as the Product received by the Underdelivering Party during the Imbalance Month. 

(4)     To the extent that an Imbalance Volume is delivered after the Imbalance Month, and except as provided in the Special Provisions of this Agreement: (1) if the price specified in this Agreement is a fixed price or a formula price based on the price of a commodity on a date or during a specified range of dates (e.g., April 12, 2009, or April 12-19, 2009), the price of the Imbalance Volumes shall be equal to such price without regard to the month of actual delivery; and (2) if the price specified in this Agreement is a formula price based on the price of a commodity on a date or during a range of dates that is not tied to a specific date or range of dates (e.g., bill of lading date, month of delivery, NYMEX trade month, Argus trade month, or calendar month average), the price for the Imbalance Volumes will be calculated according to such formula for the actual month the Imbalance Volume is delivered. 

(5)    The foregoing notwithstanding, the obligation of either party to deliver or take an Imbalance Volume less than 1000 Barrels at the end of this Agreement shall be excused.

K.     Delivery, Title, and Risk of Loss:     Title to, responsibility for and risk of loss of the Product shall pass from the Seller to the Buyer upon delivery. Delivery shall be effected as follows:

(1)    For lease delivery locations, delivery of the Product to the Buyer shall be effected as the Product passes the last permanent delivery flange and/or meter connecting the Seller's lease/unit storage tanks or processing facilities to the Buyer's carrier. 
(2)    For delivery locations other than lease/unit delivery locations, delivery of the Product to the Buyer shall be effected as the Product passes the last permanent delivery flange and/or meter connecting the Seller’s carrier (or other storage or delivery facility designated by the Seller, as applicable) to the Buyer's carrier. 

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(3)    If delivery is by in-line or in-tank transfer, delivery of the Product to the Buyer shall be effected at the particular pipeline point or storage tank facility designated in this Agreement as specified in the pipeline or storage tank facility documentation authorizing the transfer of title for the specified quantity at such location or, in the absence of such documentation, upon the date of transfer shown in the title transfer documentation provided to such pipeline or storage facility operator. 

Where ConocoPhillips Company is Seller, (a) ConocoPhillips shall be responsible for performance of the pre-transportation functions as defined in 49 CFR 171.1(b) and 171.8 and shall certify in compliance with the requirements of 49 CFR 172.204, with respect to non-pipeline transportation of the Product to the delivery location and (b) Buyer shall be responsible for performance of the pre-transportation functions as defined in 49 CFR 171.1(b) and 171.8 and shall certify in compliance with the requirements of 49 CFR 172.204, with respect to non-pipeline transportation of the Product from the delivery location.

L.     Term:     Unless otherwise specified in the Special Provisions, delivery months begin at 7:00 a.m. at the delivery location on the first day of the calendar month and end at 7:00 a.m. at the delivery location on the first day of the following calendar month. The term of the Agreement specified in the Special Provisions shall be extended as necessary to enable the parties to comply with their obligations under Section J (Buy/Sell and Exchange Balancing). 

M.     Governing Law:     This Agreement and any disputes arising hereunder shall be governed by the laws of the State of Texas, without regard to principles of conflicts of law. 

N.     Limitation of Liability:     IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR LOSS OF PROFITS OR INDIRECT, SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES, EXCEPT (IF APPLICABLE) FOR THIRD PARTY CLAIMS FOR WHICH A PARTY IS OBLIGATED TO INDEMNIFY THE OTHER PARTY UNDER THIS AGREEMENT.. 

O.     Indemnity:     TO THE FULLEST EXTENT PERMITTED BY LAW, (A) SELLER SHALL INDEMNIFY, DEFEND AND HOLD HARMLESS BUYER FROM AND AGAINST ALL LOSSES, LIABILITIES, COSTS, EXPENSES, DEMANDS, ACTIONS, SUITS, DAMAGES, SETTLEMENTS, JUDGMENTS, AND CLAIMS, INCLUDING REASONABLE ATTORNEYS’ FEES AND COSTS OF COURT (CLAIMS), FROM ANY AND ALL PERSONS, ARISING FROM OR OUT OF ANY INCIDENT RELATED TO THE PRODUCT THAT OCCURS BEFORE ITS DELIVERY TO BUYER UNDER THIS AGREEMENT; AND (B) BUYER SHALL INDEMNIFY, DEFEND AND HOLD HARMLESS SELLER FROM ALL CLAIMS, FROM ANY AND ALL PERSONS, ARISING FROM OR OUT OF ANY INCIDENT RELATED TO THE PRODUCT WHICH OCCURS UPON OR AFTER ITS DELIVERY TO BUYER UNDER THIS AGREEMENT. INCIDENT SHALL REFER TO THE OCCURRENCE OF BODILY INJURY, PROPERTY DAMAGE, OR ECONOMIC LOSS. EACH PARTY’S INDEMNITY OBLIGATIONS HEREUNDER SHALL BE 

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WITHOUT REGARD TO THE FAULT OR CAUSES THEREOF, INCLUDING ANY BREACH OF DUTY (STATUTORY, COMMON LAW, OR OTHERWISE), CONTRACT OR WARRANTY, TORT OR STRICT LIABILITY, OR THE NEGLIGENCE OF ANY PARTY, WHETHER SUCH NEGLIGENCE BE SOLE, JOINT OR CONCURRENT, OR ACTIVE OR PASSIVE, AND INCLUDING CLAIMS FOR PERSONAL INJURY, PROPERTY DAMAGE, OR ECONOMIC LOSS 

P.     Taxes:     Seller shall be responsible for and shall pay any applicable Taxes that are imposed on or with respect to the Product prior to the transfer of title to the Product to Buyer. The Price does not include, and Buyer shall be responsible for and shall pay, any applicable Taxes that are imposed on or with respect to the Product upon or after the transfer of title to the Product to Buyer. If a party is required by applicable law to collect and remit applicable Taxes that are the other party’s responsibility hereunder, the party so required will comply with such collection and remission requirements, and the party responsible for such Taxes will promptly reimburse the other party for such Taxes. If there are any applicable exemptions, the party entitled to such exemption will furnish to the other party a fully executed exemption certificate or other like documentation prior to claiming such exemption. As used herein, Taxes means any applicable federal, state and local sales, use, gross receipts, excise and other similar taxes, levies, duties, fees and charges in the nature of a tax, other than any income, franchise, license privilege, net worth, gross margin, gross profit, payroll, ad valorem or other similar taxes imposed on a party in connection with the operation of its business or the ownership of its assets. 

Q.     Notices:     Notices, requests or other communications to be given to the other party in connection with this Agreement shall be in writing, shall be addressed as provided in the Special Provisions (or to such other address as a party has designated by at least 10 days prior written notice), and shall be delivered in person, sent by telecopy or sent by a recognized overnight delivery service. Notices so delivered shall be deemed properly given when received; provided, however, any notice received on a day that is not a Business Day and any notice received after 5:00 pm local time on any day will be deemed received on the following Business Day.

R.     Necessary Documents:    Upon request, each party agrees to furnish all substantiating documents incident to the transaction, including a Delivery Ticket for each volume delivered and an invoice for any month in which the sums are due. 

S.     Waiver:     No waiver by either party regarding the performance of the other party under any of the provisions of this Agreement shall be construed as a waiver of any subsequent performance under the same or any other provisions. 

T.     Assignment:         Neither party shall assign this Agreement or any rights hereunder without the written consent of the other party unless such assignment is made to a person controlling, controlled by or under common control with assignor, in which event assignor shall remain responsible for proper performance of the Agreement. 

U.     Status of Parties; Entirety of Agreement:     Neither party is acting as a fiduciary for or an advisor to the other party in respect of this Agreement or any transaction hereunder. 

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The Special Provisions and these General Provisions contain the entire Agreement of the parties; there are no other promises, representations or warranties. Any modification of this Agreement shall be by written instrument. Any conflict between the Special Provisions and these General Provisions shall be resolved in favor of the Special Provisions. The section headings are for convenience only and shall not limit or change the subject matter of this Agreement. 

V. Trade Controls and Boycotts, Export Compliance, and Anti-Corruption: 

(1)    Trade Controls and Boycotts. Each Party shall comply with all U.S. laws, regulations, rules and requirements that relate to foreign trade controls, export and re-export controls, embargoes or international boycotts of any type (Trade Control Laws). Nothing shall be shipped to, transshipped through, or otherwise transferred to, directly or indirectly, any country, entity or individual, or for any end use, that is prohibited under Trade Control Laws, or that is prohibited by sanctions imposed by the United States or the United Nations (including Trade Control Laws or sanctions imposed after this Agreement is entered into but before Product is delivered). At any time, the Seller may require the Buyer to provide any relevant documents for the purpose of verifying the final destination of the Product, and the Buyer shall provide such documents upon request. Notwithstanding anything to the contrary herein, nothing in the Agreement is intended, and nothing herein should be interpreted or construed, to induce or require either party hereto to act in any manner (including failing to take any actions in connection with a transaction) which is inconsistent with, penalized or prohibited under Trade Control Laws. 
(2)     Export Compliance. If Product sold by ConocoPhillips Company to Buyer under this Agreement is to be exported by Buyer from the United States, then unless otherwise provided in the Special Provisions: (1) Buyer and its authorized US agent, if applicable, shall obtain all licenses, permits or approvals and comply with all applicable laws, regulations, governmental rules and requirements for export of the Product from the United States and shall prepare and file any export related filings and pay any export-related duties, taxes or other fees; (2) if Buyer is a U.S. entity, then Buyer shall be the U.S. Principle Party in Interest; and (3) Upon request from Seller, Buyer shall promptly provide Seller a copy of any export documentation or filing submitted. 
(3)     Anti-Corruption. Each Party warrants to the other, that in connection with the Agreement, it will comply with all applicable laws, rules, regulations, decrees and/or official government orders of the United States, and any other jurisdiction applicable to it, relating to anti-bribery and anti-money laundering, including but not limited to the U.S. Foreign Corrupt Practices Act. Neither Party nor its employees or representatives shall, directly or indirectly: (i) pay salaries, commissions or fees, or make payments or rebates to any of the other Party’s employees or representatives, or their designees; (ii) favor any of the other Party’s employees or representatives or their designees with gifts or entertainment of significant cost or value, or with services or goods sold at less than full market value; or (iii) enter into business arrangements with any of the other Party’s employees or representatives unless such individual is acting in his official capacity as a representative of such Party. 
(4)    Violations and Remedies. Either Party may terminate the Agreement upon written notice to the other at any time if in its reasonable judgment the other is in breach of 

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any representation, warranty, undertaking or obligation under the above clauses for Trade Controls and Boycotts, Export Compliance, and Anti-Corruption. Further, each Party shall indemnify and hold harmless the other Party from and against any claims, liabilities, losses, costs, damages, fines and/or penalties arising from the indemnifying Party’s breach of the above clauses for Trade Controls and Boycotts, Export Compliance, and Anti-Corruption. 

W.     Definitions:     When used in this Agreement, the terms listed below have the following meanings: 

"API" means the American Petroleum Institute. 

"ASME" means the American Society of Mechanical Engineers. 

"ASTM" means the American Society for Testing Materials.
 
"Barrel" means 42 U.S. gallons of 231 cubic inches per gallon corrected to 60 degrees Fahrenheit. 

"Business Day" means a day other than a Saturday or Sunday when federal banks are open for business in New York, New York. 

"Carrier" means a pipeline, barge, truck, or other suitable transporter of Product.
 
"Day," "month," and "year" mean, respectively, calendar day, calendar month, and calendar year, unless otherwise specified. 

"Delivery Ticket" means a shipping/loading document or documents stating the type and quality of Product delivered, the volume delivered and method of measurement, the corrected specific gravity, temperature, and S&W content. 

"Event of Default" means, with respect to a party hereto (the Defaulting Party), (a) the failure to make, when due, any payment required hereunder, if such failure is not cured within 2 Business Days of written notice; (b) the failure to timely provide Payment Assurance; or (c) the occurrence of an Insolvency Event. 

"Invoice" means a statement setting forth at least the following information: The date(s) of delivery under the transaction; the location(s) of delivery; the volume(s); price(s); the specific gravity and gravity adjustments to the price(s) (where applicable); and the of payment instructions. 

"Product" means the crude oil, condensate or other product to be delivered by Seller per the Special Provisions. 

"S&W" means sediment and water. 

"Unpaid Amounts" means any amounts owed but not yet paid to Seller for Product already delivered under this Agreement. 

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APPENDIX 1 

CONOCOPHILLIPS COMPANY 
CRUDE OIL AND CONDENSATE 
QUANTITY AND QUALITY DETERMINATION GUIDELINES 

The procedures, equipment, calculations, and tests for determining the quantity and quality of crude oil or condensate (Product) received or delivered shall be those as specified in the latest revision of the American Petroleum Institute - Manual of Petroleum Measurement (API MPMS), and test methods as specified in the American Society for Testing and Materials (ASTM). The specific procedures, guidelines and tests as applicable are given below. 

1.     Pipeline, Truck, or Rail Car Measurement. 

		
	1.1
	The quantity of Product received or delivered by pipeline shall be determined by one of the following methods in the following order of preference: 

	
		
	1.1.1
	Calibrated custody transfer meters, or

	 
	 

	1.1.1
	Tank gauge with appropriate application of certified tank strapping tables before and after transfer.

		
	1.2
	The quantity of Product received or delivered by truck or rail car shall be determined by one of the following methods in order of preference:

 	
		
	1.2.1
	Calibrated custody transfer meters, 

	 
	 

	1.2.2
	Tank gauge of static tanks with the appropriate application of certified tank strapping tables before and after transfer,

	 
	 

	1.2.3
	Certified Scales, or

	 
	 

	1.2.4
	Truck or railcar gauge with appropriate application of certified truck/ railcar strapping tables.

2. Marine Measurement. 
		
	2.1
	The quantity and quality of marine cargo received or delivered shall be determined by a mutually appointed Independent Inspection Company (IIC). 

		
	2.2
	The quantity of Product received or delivered shall be determined by one of the following methods in order of preference

	
		
	2.2.1
	Calibrated custody transfer meters,

	 
	 

	2.2.2
	Shore tank gauge of static shore tanks with the appropriate application of certified tank strapping tables before and after transfer,

	 
	 

	2.2.3
	Vessel gauge before and after transfer, with application of a valid Vessel Experience Factor (VEF) as determined from API MPMS Chapter 17.9, or

	 
	 

	2.2.4
	By agreement between the Buyer and Seller.

 

ConocoPhillips Company - Crude Oil and Condensate Quantity and Quality Determination Guidelines 
Effective January 1, 2017     Page 1 of 2 

		
	2.3 
	Gauged quantities shall not be made through unslotted standpipes. Tanks shall be static, and measurements shall not be taken in critical zones, or when tanks or vessels contain insufficient Product to allow for an accurate measurement. 

		
	2.4
	A line fullness verification shall be performed prior to custody transfer of the Product using any of the approved methods in API MPMS Chapter 17.6. Adjustments to the quantities received or delivered shall be consistent with the methodologies in API MPMS Chapter 17.6. When the line displacement method of line fullness verification is employed, it will be performed by the delivering vessel pumping to the furthermost receiving shore tank to be utilized during each marine vessel transfer. 

		
	2.5 
	Quantity as determined by the IIC shall be final and binding on all parties and will be the basis for preparing relevant shipping documents and invoices save fraud and/or manifest error. If, for any reason an IIC is not in attendance or if terminal operating procedures prevail, then quantity as determined by terminal personnel shall be final and binding on all parties and will be the basis for preparing relevant shipping documents and invoices save fraud and/or manifest error. 

3.     Calculations, Sampling, and Testing. 

		
	3.1 
	Volume measurements shall be corrected to 60 degrees Fahrenheit and one atmosphere (14.696 psia) in accordance with the latest revision of API MPMS Chapter 11 Table 6A. Gravity measurements shall be corrected to 60 degrees Fahrenheit and one atmosphere (14.696 psia). 

		
	3.2
	Product shall be sampled for quality analysis based on one of the following methods in order of preference: 

	
		
	3.2.1
	In-line sampler, obtained by a flow-proportional in-line sampler that performs in accordance with API MPMS Chapter 8.2,

	 
	 

	3.2.2
	Spot samples by manually sampling tanks, vessels, trucks/ cars, or pipelines in accordance with API MPMS Chapter 8.1, or

	 
	 

	3.2.3
	As mutually agreed by Buyer and Seller.

		
	3.3 
	S&W shall be determined from samples of Product using one of the following methods in order of preference: 

	
		
	3.3.1
	Membrane Filtration (ASTM D4807) and Karl Fischer (ASTM D4928),

	 
	 

	3.3.2
	Extraction (ASTM D473) and Distillation (D4006), or

	 
	 

	3.3.3
	Centrifuge (ASTM D4007),

		
	3.4 
	A full deduction for all free water and S&W shall be made in accordance with the API MPMS methods and standards. 

		
	3.5 
	Seller and Buyer shall have the right to have a representative witness all measurements and tests. Measurements and tests conducted in the absence of a party’s representative shall be presumed to be correct and binding on both parties and will be the basis for the preparation of relevant shipping documents and invoices except in the case of fraud or manifest error. 

ConocoPhillips Company - Crude Oil and Condensate Quantity and Quality Determination Guidelines 
Effective January 1, 2017     Page 2 of 2

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