Document:

EX-10.7

 Exhibit 10.7 

EXECUTION VERSION 
  

 
  

TOLEDO TRUCK UNLOADING & 

TERMINALING AGREEMENT 
  

 
  

 TABLE OF CONTENTS 

 

							
	Article 1	 	 Definitions and Construction.
	  	 	1	  
	Article 2	 	 Term.
	  	 	9	  
	 Article 3
	 	 Terminaling; Ancillary Services.
	  	 	9	  
	Article 4	 	 Custody, Title and Risk of Loss.
	  	 	12	  
	Article 5	 	 Specification and Contamination.
	  	 	13	  
	Article 6	 	 Condition and Maintenance of the Terminal.
	  	 	14	  
	Article 7	 	 Inspection, Access and Audit Rights.
	  	 	15	  
	Article 8	 	 Scheduling.
	  	 	16	  
	Article 9	 	 Vapor Recovery.
	  	 	16	  
	Article 10	 	 Additional Covenants.
	  	 	16	  
	Article 11	 	 Representations.
	  	 	18	  
	Article 12	 	 Insurance.
	  	 	19	  
	Article 13	 	 Force Majeure, Damage or Destruction.
	  	 	19	  
	Article 14	 	 Suspension of Refinery Operations.
	  	 	20	  
	Article 15	 	 Right of First Refusal.
	  	 	21	  
	Article 16	 	 Shutdown or Idling of Refinery.
	  	 	24	  
	Article 17	 	 Event of Default: Remedies Upon Event of Default.
	  	 	26	  
	Article 18	 	 Indemnification.
	  	 	27	  
	Article 19	 	 Limitation on Damages.
	  	 	28	  
	Article 20	 	 Confidentiality.
	  	 	29	  
	Article 21	 	 Choice of Law.
	  	 	30	  
	Article 22	 	 Assignment.
	  	 	30	  
	Article 23	 	 Notices.
	  	 	31	  
	Article 24	 	 No Waiver; Cumulative Remedies.
	  	 	32	  
	Article 25	 	 Nature of Transaction and, Relationship of Parties.
	  	 	33	  
	Article 26	 	 Arbitration Provision.
	  	 	33	  
	Article 27	 	 General.
	  	 	34	  

  
 i 

			
	Exhibit A	  	 Ancillary Services Fees

	Exhibit B	  	 Product and Product Quality

	Exhibit C	  	 Nomination and Scheduling

	Exhibit D	  	 Designated Refinery Assets

  
 ii 

 TOLEDO TRUCK UNLOADING & TERMINALING AGREEMENT 

This Toledo Truck Unloading & Terminaling Agreement (this “Agreement”) is made and entered into as of the
Commencement Date, by and between PBF Holding Company LLC, a Delaware limited liability company (the “Company”), and PBF Logistics LP, a Delaware limited partnership (the “Operator”) (each referred to
individually as a “Party” or collectively as the “Parties”). 
 WHEREAS, the Operator
operates a truck unloading facility located in the Company’s north tank farm in Toledo, Ohio (together with existing or future modifications or additions, the “Terminal”); 

WHEREAS, the Parties are entering into this Agreement to provide for the rights and obligations of the Parties with respect to the
Terminal; and 
 WHEREAS, the Parties desire to record the terms and conditions upon which the Operator shall provide terminaling
services to the Company at the Terminal on a non-exclusive basis and the Operator shall serve as operator of the Terminal and bailee of all Products in the custody of the Operator and owned or held by the Company or any of the Company Designees.

 NOW, THEREFORE, in consideration of the premises and the respective promises, conditions, terms and agreements contained herein,
and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties do hereby agree as follows: 
 Article
1 Definitions and Construction. 
 Section 1.1 Definitions. For purposes of this Agreement, including the foregoing
recitals, the following terms shall have the meanings indicated below: 
 “Acquisition Proposal” has the meaning
specified in Section 15.3(a). 
 “Adjustment” has the meaning specified in Section 3.6(a).

 “Affiliate” means, with respect to a specified Person, any other Person controlling, controlled by or under
common control with that first Person. As used in this definition, the term “control” includes (a) with respect to any Person having voting securities or the equivalent and elected directors, managers or Persons performing similar
functions, the ownership of or power to vote, directly or indirectly, voting securities or the equivalent representing 50% or more of the power to vote in the election of directors, managers or Persons performing similar functions,
(b) ownership of 50% or more of the equity or equivalent interest in any Person and (c) the ability to direct the business and affairs of any Person by acting as a general partner, manager or otherwise. Notwithstanding the foregoing, for
purposes of this Agreement, the Company and its subsidiaries (other than the Operator and its subsidiaries), on the one hand, and the Operator and its subsidiaries, on the other hand, shall not be considered Affiliates of each other. 

“Agreement” has the meaning specified in the preamble to this document. 

  
 1 

 “Ancillary Services” means the services to be provided by the Operator to
the Company at the Terminal that are set forth on Exhibit A, as well as any other ancillary services requested in accordance with Section 3.4. 

“Ancillary Services Fees” means, for any month during the Term, the fees set forth on Exhibit A, to be paid by
the Company pursuant to Section 3.4 during that month for Ancillary Services. 
 “Applicable Law”
means any applicable statute, law, regulation, Environmental Law, ordinance, rule, judgment, rule of law, order, decree, permit, approval, concession, grant, franchise, license, agreement, requirement, or other governmental restriction or any
similar form of decision of, or any provision or condition of any permit, license or other operating authorization issued under any of the foregoing by, or any determination by, any Governmental Authority having or asserting jurisdiction over the
matter or matters in question, whether now or hereafter in effect and in each case as amended (including all of the terms and provisions of the applicable common law of such Governmental Authority), as interpreted and enforced at the time in
question. 
 “Arbitrable Dispute” means any and all disputes, controversies and other matters in question
between the Operator, on the one hand, and the Company, on the other hand, arising under or in connection with this Agreement. 

“Barrel” means forty-two (42) net U.S. gallons, measured at 60° F and 1 atmospheric pressure. 

“bpd” means barrels per day. 

“Business Day” means any day that is not a Saturday, Sunday, or other day on which banks are authorized or required to
close in the State of New York, State of New Jersey or the State of Ohio. 
 “Capital Expenditure” means any
expenditure incurred to acquire or upgrade a fixed asset. 
 “Change in Law” has the meaning specified in
Section 3.6(a). 
 “Change of Control” means PBF Energy Company LLC or any of its majority owned direct
or indirect subsidiaries ceases to control the general partner of the Operator. 
 “Claimant” has the meaning
specified in Article 26. 
 “Commencement Date” means May 14, 2014. 

“Company” has the meaning specified in the preamble to this Agreement. 

“Company Designee” means, collectively, each Person designated by the Company, including any Person acting as an
intermediator of all or any portion of the Products or any third party. 

  
 2 

 “Company Indemnitees” has the meaning specified in
Section 18.1. 
 “Company Inspectors” has the meaning specified in Section 7.1. 

“Company’s Share” means a number, expressed as a percentage, equal to the quotient of (a) the greater of
(i) the total Barrels throughput by the Company and any Company Designee at the Terminal, in the aggregate, during the sixth-month period preceding the date of determination or (ii) the Minimum Throughput Commitment during such period, and
(b) the total Barrels throughput by all Persons at the Terminal during such period. 
 “Confidential
Information” means all information, documents, records and data (including this Agreement, except to the extent required to be made public in a filing with the Securities and Exchange Commission or another Governmental Authority or
pursuant to the rules and regulations of any national securities exchange) that a Party furnishes or otherwise discloses to the other Party (including any such items furnished prior to the execution of this Agreement), together with all analyses,
compilations, studies, memoranda, notes or other documents, records or data (in whatever form maintained, whether documentary, computer or other electronic storage or otherwise) prepared by the receiving Party which contain or otherwise reflect or
are generated from such information, documents, records and data; provided, however, that the term “Confidential Information” does not include any information that (a) at the time of disclosure or
thereafter is or becomes generally available to or known by the public (other than as a result of a disclosure by the receiving Party), (b) is developed by the receiving Party without reliance on any Confidential Information or (c) is or
was available to the receiving Party on a nonconfidential basis from a source other than the disclosing Party that, insofar as is known to the receiving Party after reasonable inquiry, is not prohibited from transmitting the information to the
recipient by a contractual, legal or fiduciary obligation to the disclosing Party. 
 “Contract Quarter”
means a three-month period that commences on January 1, April 1, July 1 or October 1, and ends on March 31, June 30, September 30 or December 31, respectively, except that the initial
Contract Quarter shall commence on the Commencement Date and end on June 30, 2014 and the final Contract Quarter shall end on the last day of the Term. 

“Contract Year” means a year that commences on January 1 and ends on the last day of December of such year,
except that the initial Contract Year shall commence on the Commencement Date and the final Contract Year shall end on the last day of the Term. 

“control” (including with correlative meaning, the term “controlled by”) means, as used with
respect to any Person, the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise. 

“Defaulting Party” has the meaning specified in Section 17.2. 

“Designated Refinery Assets” has the meaning specified in Section 16.1. 

“Disposition Notice” has the meaning specified in Section 15.3(a). 

  
 3 

 “Environmental Law” means all federal, state, and local laws, statutes,
rules, regulations, orders, judgments, ordinances, codes, injunctions, decrees, Environmental Permits and other legally enforceable requirements and rules of common law now or hereafter in effect, relating to pollution or protection of human health
and the environment, safety, and occupational health, including the federal Comprehensive Environmental Response, Compensation, and Liability Act, the Superfund Amendments Reauthorization Act, the Resource Conservation and Recovery Act, the Clean
Air Act, the Federal Water Pollution Control Act, the Toxic Substances Control Act, the Oil Pollution Act, the Clean Water Act, the Safe Drinking Water Act, the Hazardous Materials Transportation Act, OSHA, and other similar federal, state or local
health and safety, and environmental conservation and protection laws, each as amended from time to time. 
 “Environmental
Permit” means any permit, approval, identification number, license, registration, consent, exemption, variance or other authorization required under or issued pursuant to any applicable Environmental Law. 

“ET” means the prevailing time in the Eastern time zone. 

“Event of Default” has the meaning specified in Section 17.1. 

“Excess Throughput” has the meaning specified in Section 3.3. 

“First ROFR Acceptance Deadline” has the meaning specified in Section 15.3(a). 

“Force Majeure” means acts of God, strikes, lockouts or other industrial disturbances, acts of a public enemy,
wars, terrorism, blockades, insurrections, riots, storms, floods, interruptions in the ability to have safe passage in navigable waterways or rail lines, washouts, other interruptions caused by acts of nature or the environment, arrests, the order
of any court or Governmental Authority claiming or having jurisdiction while the same is in force and effect, civil disturbances, explosions, fires, leaks, releases, breakage, accident to machinery, vessels, storage tanks or lines of pipe or rail
lines, inability to obtain or unavoidable delay in obtaining material or equipment, inability to obtain or distribute Products, feedstocks, other products or materials necessary for operation because of a failure of third-party pipelines or rail
lines or any other causes whether of the kind herein enumerated or otherwise not reasonably within the control of the Party claiming suspension and which by the exercise of commercially reasonable efforts such Party is unable to prevent or overcome;
provided, however, a Party’s inability to perform its economic obligations hereunder shall not constitute an event of Force Majeure. 

“Force Majeure Notice” has the meaning specified in Section 13.1. 

“Force Majeure Party” has the meaning specified in Section 13.1. 

“Force Majeure Period” has the meaning specified in Section 13.1. 

“Governmental Authority” means any federal, state, local or foreign government or any provincial, departmental or
other political subdivision thereof, or any entity, body or authority exercising executive, legislative, judicial, regulatory, administrative or other governmental functions or any court, department, commission, board, bureau, agency,
instrumentality or administrative body of any of the foregoing. 

  
 4 

 “Hart-Scott-Rodino Act” means the Hart-Scott-Rodino Antitrust
Improvements Act of 1976. 
 “Index Change” means the Producer Price Index is no longer published or the method of
calculating the Producer Price Index is changed so that the Producer Price Index no longer reflects general increases in prices in the broad United States economy. 

“Initial Term” has the meaning specified in Section 2.1. 

“Liabilities” means any losses, liabilities, charges, damages, deficiencies, assessments, interests, fines, penalties,
costs and expenses (collectively, “Costs”) of any kind (including reasonable attorneys’ fees and other fees, court costs and other disbursements), including any Costs directly or indirectly arising out of or related to
any suit, proceeding, judgment, settlement, cause of action, equitable or injunctive relief, or judicial or administrative order and any Costs arising from compliance or non-compliance with Environmental Law. 

“Minimum Throughput Capacity” means, with respect to each Contract Quarter, an aggregate amount of throughput capacity
equal to 4,000 bpd of Products, multiplied by the number of calendar days in such Contract Quarter; provided, however, that for the purposes of this Agreement, the period from the Commencement Date through September 30, 2014 shall
be treated as one Contract Quarter. 
 “Minimum Throughput Commitment” means, with respect to each Contract Quarter,
an aggregate amount of Products received at the Terminal equal to at least 4,000 bpd of Products, multiplied by the number of calendar days in such Contract Quarter; provided, however, that for the purposes of this Agreement, the
period from the Commencement Date through September 30, 2014 shall be treated as one Contract Quarter. 

“Nomination” has the meaning specified in Exhibit C. 

“Non-Defaulting Party” means the Party other than the Defaulting Party. 

“Notice Period” has the meaning specified in Section 14.1. 

“Off-Specification Product” means Product that fails to meet the specifications set forth in Exhibit B. 

“Offer Price” has the meaning specified in Section 15.3(a). 

“Omnibus Agreement” means that Omnibus Agreement, dated as of the date hereof, by and among the Company, PBF Energy
Company LLC, PBF Logistics GP LLC, and the Operator. 
 “Operation and Management Services and Secondment Agreement”
means that Operation and Management Services and Secondment Agreement, dated as of the date hereof, by and among the Company, the Operator, Delaware City Refining Company LLC, Toledo Refining Company LLC, PBF Logistics GP LLC, and Delaware City
Terminaling Company LLC. 
 “Operator” has the meaning specified in the preamble to this Agreement. 

  
 5 

 “Operator Indemnitees” has the meaning specified in
Section 18.2. 
 “OSHA” means Occupational Safety and Health Act of 1970, 29 U.S.C. Section 651 et
seq. 
 “Party” or “Parties” has the meaning specified in the preamble to this Agreement.

 “Permitted Lien” means (a) liens for real estate taxes, assessments, sewer and water charges or other
governmental charges and levies not yet delinquent; (b) liens for taxes, assessments, judgments, governmental charges or levies, or claims not yet delinquent or the non-payment of which is being diligently contested in good faith by appropriate
proceedings and for which adequate reserves have been set aside; (c) liens of mechanics, laborers, suppliers, workers and materialmen incurred in the ordinary course of business for sums not yet due or being diligently contested in good faith;
and (d) liens incurred in the ordinary course of business in connection with worker’s compensation and unemployment insurance or other types of social security benefits. 

“Permanent Refinery Shutdown” has the meaning specified in Section 16.1(a). 

“Person” means any individual, corporation, partnership, limited partnership, limited liability company, joint
venture, trust or unincorporated organization, joint stock company or any other private entity or organization, Governmental Authority, court or any other legal entity, whether acting in an individual, fiduciary or other capacity. 

“Prime Rate” means the rate of interest quoted in The Wall Street Journal, Bonds,
Rates & Yields Section as the Prime Rate. 
 “Producer Price Index” shall have the meaning ascribed
to such term by the United States Bureau of Labor Statistics. 
 “Product” means any of the products listed on
Exhibit B, as from time to time amended by mutual agreement of the Parties. 
 “Proposed Transferee” has the
meaning specified in Section 15.3(a). 
 “Prudent Industry Practice” means, as of the relevant time,
those methods and acts generally engaged in or applied by the refining, pipeline or terminaling industries (as applicable) in the United States that, in the exercise of reasonable judgment in light of the circumstances known at the time of
performance, would have been expected to accomplish the desired result at a reasonable cost consistent with functionality, reliability, safety and expedition with due regard for health, safety, security and environmental considerations. Prudent
Industry Practice is not intended to be limited to the optimum practices, methods or acts to the exclusion of others, but rather is intended to include reasonably acceptable practices, methods and acts generally engaged in or applied by the
refining, pipeline or terminaling industries (as applicable) in the United States. 
 “Receiving Party Personnel”
has the meaning specified in Section 20.4. 

  
 6 

 “Refinery” means the petroleum refinery located in Toledo, Ohio owned and
operated by the Company’s Affiliates. 
 “Refinery Asset Option Notice” has the meaning specified in
Section 16.1(b). 
 “Refinery Asset Option Period” has the meaning specified in
Section 16.1(f). 
 “Refinery Asset Purchase Option” has the meaning specified in
Section 16.1(b). 
 “Renewal Term” has the meaning specified in Section 2.1. 

“Required Permits” has the meaning specified in Section 10.1. 

“Respondent” has the meaning specified in Article 26. 

“Restoration” has the meaning specified in Section 6.2(b). 

“ROFR Acceptance Deadlines” has the meaning specified in Section 15.3(a). 

“ROFR Asset” means the Terminal and each asset that comprises the Terminal and is material to the operation thereof.

 “ROFR Governmental Approval Deadline” has the meaning specified in Section 15.3(c). 

“ROFR Response” has the meaning specified in Section 15.3(a). 

“Sale Assets” has the meaning specified in Section 15.3(a). 

“Second ROFR Acceptance Deadline” has the meaning specified in Section 15.3(a). 

“Services” has the meaning specified in Section 3.1. 

“Shortfall” has the meaning specified in Section 3.7. 

“Shortfall Payment” has the meaning specified in Section 3.7. 

“Special Damages” has the meaning specified in Article 19. 

“Supplier Inspector” means any Person selected by the Company to perform any and all inspections required by the
Company or the Company Designee in a commercially reasonable manner at the Company’s own cost and expense that is acting on behalf of the Company or the Company Designee and that (a) is a Person who performs sampling, quality analysis and
quantity determination or similar services of the Products purchased and sold under any agreement between the Company (or its Affiliates) and the Company Designee, (b) is not an Affiliate of any Party and (c) in the reasonable judgment of
the Company, is qualified and reputed to perform its services in accordance with Applicable Law and Prudent Industry Practice. 

“Suspension Notice” has the meaning specified in Section 14.1. 

  
 7 

 “Term” has the meaning specified in Section 2.1. 

“Terminal” has the meaning specified in the recitals. 

“Terminal Maintenance” has the meaning specified in Section 6.2(a). 

“Terminaling Service Fee” has the meaning set forth in Section 3.1. 

“Termination Notice” has the meaning specified in Section 13.2. 

“Transfer” means to, directly or indirectly, sell, assign, lease, convey, transfer or otherwise dispose of, whether in
one or a series of transactions. 
 Section 1.2 Construction of Agreement. 

(a) Unless otherwise specified, all references herein are to the Articles, Sections and Exhibits of this Agreement and all Exhibits are
incorporated herein. 
 (b) All headings herein are intended solely for convenience of reference and shall not affect the meaning or
interpretation of the provisions of this Agreement. 
 (c) Unless expressly provided otherwise, the word “including” as used herein
does not limit the preceding words or terms and shall be read to be followed by the words “without limitation” or words having similar import. 

(d) Unless expressly provided otherwise, all references to days, weeks, months and quarters mean calendar days, weeks, months and quarters,
respectively. 
 (e) Unless expressly provided otherwise, references herein to “consent” mean the prior written consent of the
Party at issue. 
 (f) A reference to any Party to this Agreement or another agreement or document includes the Party’s permitted
successors and assigns. 
 (g) Unless the contrary clearly appears from the context, for purposes of this Agreement, the singular number
includes the plural number and vice versa; and each gender includes the other gender. 
 (h) Except where specifically stated otherwise, any
reference to any Applicable Law or agreement shall be a reference to the same as amended, supplemented or reenacted from time to time. 
 (i)
The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. 

Section 1.3 No Presumption. The Parties acknowledge that they and their counsel have reviewed and revised this Agreement
and that no presumption of contract interpretation or construction shall apply to the advantage or disadvantage of the drafter of this Agreement. 

  
 8 

 Article 2 Term. 

Section 2.1 Term. The initial term of this Agreement (the “Initial Term”) shall commence at 12:00
a.m., ET, on the Commencement Date and shall continue until 11:59 p.m., ET, on the first December 31 following the seventh (7th) anniversary of the Commencement Date. Thereafter, subject
to the last sentence of this paragraph, the Company shall have a unilateral option to extend this Agreement for two additional five (5) year periods on the same terms and conditions set forth herein (each, a “Renewal
Term”). The Initial Term and the Renewal Terms are sometimes referred to collectively herein as the “Term.” In order to exercise its option to extend this Agreement for a Renewal Term, the Company shall notify
the Operator in writing not less than twelve (12) months prior to the expiration of the Initial Term or any Renewal Term, as applicable. 

Section 2.2 Termination. The Parties may terminate this Agreement prior to the end of the Term (but are under no obligation
to do so) (a) as they may mutually agree in writing, (b) pursuant to a Termination Notice in accordance with Section 13.2, (c) pursuant to a Suspension Notice in accordance with Section 14.1, (d) pursuant
to a default in accordance with Section 17.2 or (e) pursuant to Section 3.6(c). 
 Article 3 Terminaling; Ancillary
Services. 
 Section 3.1 Services. Subject to the terms of this Agreement, the Operator shall provide the following
services (the “Services”) to the Company hereunder: receipt, unloading, handling, throughput, custody and delivery of the Company’s (and its subsidiaries’ and the Company Designee’s) Product at the Terminal.
During each Contract Quarter during the Term, the Company (on its own behalf and on behalf of its subsidiaries and the Company Designee) shall throughput or, if it does not throughput, pay for in accordance with Section 3.7, in the
aggregate, at least the Minimum Throughput Commitment at the Terminal and the Operator shall make available to the Company throughput capacity at the Terminal (and provide the Services as reasonably requested by the Company in connection therewith
subject to the terms hereof), at all times sufficient to allow the Company to throughput the Minimum Throughput Commitment at the Terminal. 

Section 3.2 Terminaling Service Fee. The Company shall pay a terminaling services fee (the “Terminaling Service
Fee”) for the volumes of Products it actually throughputs at the Terminal of $1.00 per Barrel (which is inclusive of the Company providing the Operator with access to the Terminal) for all throughput up to the Minimum Throughput
Commitment. 
 Section 3.3 Excess Throughput. The Company shall have the right to throughput volumes in excess of its
Minimum Throughput Commitment (“Excess Throughput”), up to the then-available capacity of the Terminal, as reasonably determined by the Operator in good faith at any time (after giving effect to the physical and operational
constraints of the Terminal and the capacity contractually committed to third parties). In accordance with Section 3.1, the Company shall pay the Operator the applicable per-Barrel Terminaling Service Fee for any Excess Throughput. 

  
 9 

 Section 3.4 Ancillary Services. Upon request by the Company, the Operator
shall provide Ancillary Services to the Company at the Terminal. From time-to-time, the Company may request that the Operator provide additional Ancillary Services to the Company at the Terminal upon customary terms in accordance with Prudent
Industry Practice so long as such additional Ancillary Services are reasonably related to the Services or existing Ancillary Services; provided, however, that in the event any requested additional Ancillary Service requires the
Operator to make Capital Expenditures, such Capital Expenditures shall be subject to Section 3.10(b) and the Operator shall not be required to provide such additional Ancillary Service until the Operator is able to do so after using
reasonable efforts in compliance with Section 3.10(b); provided, further, the Operator shall not be required to perform any additional Ancillary Service if it reasonably believes the performance thereof will materially
adversely interfere with, or be detrimental to, the operation of the Terminal. The Company shall pay the Ancillary Services Fees listed on Exhibit A for such services. The Company may, at any time on reasonable prior notice, revoke or
modify any instructions it has previously given, whether such previous instructions relate to a specific Service or Ancillary Service or are instructions relating to an ongoing Service or Ancillary Service. The Operator shall not be required to
perform any requested Service or Ancillary Service if it reasonably believes such Service or Ancillary Service violates Applicable Law. 

Section 3.5 Annual Fee Escalator. All fees set forth in this Agreement, including the Terminaling Service Fee and the
Ancillary Services Fees, shall be adjusted on January 1 of each Contract Year, commencing on January 1, 2015, (a) by an amount equal to the increase or decrease, if any, in the Producer Price Index during the previous Contract Year
and (b) by an amount equal to the increase, if any, in the individual out-of-pocket costs that increase greater than the Producer Price Index reasonably incurred by the Operator in connection with providing the Services and Ancillary Services;
provided, however, that no fee shall be decreased below the initial fee for such service provided in this Agreement; provided, further, that the Operator shall use commercially reasonable efforts to mitigate any such rise
in out-of-pocket costs incurred by the Operator in connection with providing the Services and Ancillary Services. In the event of an Index Change, the Company and the Operator shall negotiate in good faith to agree on a new index that gives
comparable protection against inflation that the Producer Price Index gave as of the date hereof, and, for all periods following the date of such Index Change, such new index shall replace the Producer Price Index for all purposes herein. If the
Company and the Operator are unable to agree, a new index will be determined by arbitration in accordance with Article 26 and, for all periods following the date of such Index Change, such new index shall replace the Producer Price Index for
all purposes herein. 
 Section 3.6 Change in Law. 

(a) In the event that any applicable existing laws, codes, regulations, permit conditions or other authorizations are amended or new laws,
codes, regulations, permit conditions or other authorizations are enacted or promulgated after the Commencement Date that require a material Capital Expenditure in the Terminal, or the acquisition of a permit from a Governmental Authority, in each
case, in order to provide the Services and Ancillary Services (a “Change in Law”), the Operator may, by written notice to the Company, request to negotiate an adjustment (an “Adjustment”) in the
Terminaling Service Fee or other fees and charges paid hereunder to cover the Company’s Share of the reasonable, incremental, out-of-pocket operating and 

  
 10 

 
maintenance costs the Operator would incur to comply with the Change in Law, including a return of capital expended and a return on such capital at a rate of return of 11% per annum,
amortized over the remaining Term. 
 (b) If the Operator requests to negotiate an Adjustment pursuant to Section 3.6(a):
(i) the Operator shall provide the Company with complete access (subject to reasonable confidentiality provisions) to information and documentation regarding such proposed Adjustment, including the nature and cost of the contemplated
improvements or permit, as applicable, the options for financing or otherwise amortizing such cost, the Operator’s assessment that such improvements are the most feasible means of complying with the Change in Law and the manner in which the
Company’s Share of such costs are determined; and (ii) the Parties shall be obligated to negotiate in good faith to agree to an Adjustment as described in Section 3.6(a). 

(c) If, despite good faith negotiations, the Parties are unable to agree to an Adjustment pursuant to Section 3.6(a) in sufficient
time for the Operator to take such action as shall be necessary to comply with the Change in Law, then the amount of such fee increases will be determined by arbitration in accordance with Article 26, and such fee increases will be effective
as of the effective time of such Change in Law; provided, however, that in the event the fees paid hereunder increase in the aggregate as a result of Changes in Law by more than 200%, then the Company may terminate this Agreement. 

Section 3.7 Shortfall Payments. If, during any Contract Quarter, the Company throughputs aggregate volumes less than the
Minimum Throughput Commitment, as adjusted pursuant to Section 6.2, for such Contract Quarter (a “Shortfall”), then (in addition to Terminaling Service Fee) the Company shall pay the Operator an amount (a
“Shortfall Payment”) equal to the Terminaling Service Fee multiplied by the difference between (a) the Minimum Throughput Commitment and (b) the volume of Products actually delivered to the Terminal by the Company
during the applicable Contract Quarter. The Parties acknowledge and agree that there shall be no carry-over of deficiency volumes with respect to the Minimum Throughput Commitment and the payment by the Company of the Shortfall Payment shall relieve
the Company of any obligation to meet such Minimum Throughput Commitment for the relevant Contract Quarter. The Parties further acknowledge and agree that there shall not be any carry-over of volumes in excess of the Minimum Throughput Commitment to
any subsequent Contract Quarter. 
 Section 3.8 Invoices. The Operator shall invoice the Company monthly (or, in the case
of any Shortfall Payments, quarterly) for all fees and payments under this Agreement. The Company will make payments to the Operator on a monthly (or, in the case of any Shortfall Payments, quarterly) basis during the Term with respect to amounts
due to the Operator under this Agreement in the prior month (or, in the case of any Shortfall Payments, Contract Quarter) ten (10) days after its receipt of such invoice. Any past due payments owed to the Operator hereunder shall accrue
interest, payable on demand, at the Prime Rate plus 400 basis points from the due date of the payment through the actual date of payment. Payment of any fee or Shortfall Payment pursuant to this Section 3.8 shall be made by wire transfer
of immediately available funds to an account designated in writing by the Operator. If any such fee shall be due and payable on a day that is not a Business Day, such payment shall be due and payable on the next succeeding Business Day. 

  
 11 

 Section 3.9 Operating Hours. The Operator agrees to keep the Terminal open for
receipt and redelivery of the Company’s and the Company Designee’s Products twenty-four (24) hours a day, seven (7) days a week. 

Section 3.10 Regulatory Costs; Reimbursement. 

(a) Taxes. The Company shall reimburse the Operator for all taxes that the Operator incurs in connection with this Agreement unless prohibited
by Applicable Law. 
 (b) Capital Expenditures. The Company may request that the Operator make certain Capital Expenditures at the Terminal
and the Operator shall make such Capital Expenditures; provided, however, that the Operator shall not be required to make any such Capital Expenditure if such Capital Expenditure would materially adversely affect the operation of the
Terminal, as determined in the reasonable discretion of the Operator. The Company shall reimburse the Operator for the Company’s Share of any such Capital Expenditure. For the avoidance of doubt, except as provided in the Omnibus Agreement or
the Operation and Management Services and Secondment Agreement, any maintenance required for the Operator to continue to provide the services specified hereunder shall be paid for by the Operator. 

(c) Payment Terms. All of the foregoing reimbursements shall be made in accordance with the payment terms set forth in Section 3.8
herein. 
 Section 3.11 Third-Party Arrangements. The Operator may throughput volumes for third parties; provided,
however, that such arrangements do not prevent the Operator from fulfilling its obligations to the Company hereunder, including the obligation to make the Minimum Throughput Capacity available to the Company during the Term. Nothing herein
shall be deemed to provide the Company with exclusive rights to services at the Terminal. 
 Article 4 Custody, Title and Risk of Loss. 

Section 4.1 Title. Subject to Section 22.2, the Company or the Company Designee shall at all times during the
Term retain title to the Products handled or throughput by the Company or the Company Designee at the Terminal, and such Products shall remain the Company’s or the Company Designee’s exclusive property. The Company hereby represents that,
at all times during the Term, the Company or the Company Designee holds exclusive title to the Products throughput or handled by the Company at the Terminal; provided, however, that each of the Company and the Company Designee may at
any time permit liens on the Company’s or the Company Designee’s Products at the Terminal. 
 Section 4.2 Compliance
with Laws. During the time any Products are held or throughput at the Terminal, the Operator, in its capacity as operator of the Terminal shall be solely responsible for compliance with (and the Operator shall comply with) all Applicable
Laws pertaining to the possession, handling, use and processing of such Products at the Terminal. 
 Section 4.3 Volumetric
Losses and Gains. Subject to the other provisions in this Agreement, title and risk of loss to all of the Products handled or throughput by the Company or the Company Designee at the Terminal shall remain at all times with the Company or the
Company Designee, as applicable. Unless the Operator experiences a spill or other release of Product while Product is in the Operator’s custody, all volumetric losses and gains in Product shall be for the Company’s or the Company
Designee’s account, as applicable. 

  
 12 

 Section 4.4 Custody. During the Term, the Operator shall hold all Products at
the Terminal solely as bailee, and agrees that when any such Products are redelivered to the Company or the Company Designee, the Company or the Company Designee shall have good title thereto (to the extent the Company had good title prior to
delivery at the Terminal) free and clear of any liens, security interests, encumbrances and claims of any kind whatsoever created or caused to be created by the Operator, other than Permitted Liens; provided, however, that
notwithstanding anything herein to the contrary the Operator hereby waives, relinquishes and releases any and all liens, including, any and all warehouseman’s liens, custodian’s liens, rights of retention or similar rights under all
applicable laws, which the Operator would or might otherwise have under or with respect to any Products handled hereunder. During the Term, none of the Operator or any of its Affiliates shall (and the Operator shall not permit any of its Affiliates
or any other Person to) use any such Products for any purpose. Solely in its capacity as bailee, the Operator shall have custody of Product throughput under this Agreement from the time such Product passes the delivery point until such time that the
Products pass the outlet flange of the Terminal. 
 Article 5 Specification and Contamination. 

Section 5.1 Delivery Specifications. The Company shall not (and shall cause the Company Designee to not) deliver to the
Terminal any Off-Specification Product; provided, however, that in the event Off-Specification Product is delivered by the Company or the Company Designee to the Terminal, and the Company or the Company Designee fails to instruct the
Operator to return such Off-Specification Product to the Company or the Company Designee, as applicable, the Operator shall provide the Services to the Company or the Company Designee, as applicable, and the Company will receive on its or the
Company Designee’s behalf, such Off-Specification Product at its own expense; provided, further, that in the event Off-Specification Product is delivered by the Company or the Company Designee to the Terminal and the Company or
the Company Designee instructs the Operator to return such Off-Specification Product to the Company or the Company Designee, as applicable, the Operator shall return such Off-Specification Product to the Company (on its or the Company
Designee’s behalf) at the Company’s own expense. In the event Off-Specification Product is delivered by the Company or the Company Designee, and in the reasonable opinion of the Operator, the Services are unable to be provided as a result
of the Off-Specification Product (whether due to a failure to comply with law, safety considerations or otherwise), the Operator shall notify the Company and the Company shall be responsible for taking possession of such Off-Specification Product
without the Services being provided. 
 Section 5.2 Unloading Specifications. If all Product meets the relevant
specifications set forth in Exhibit B when it enters the Terminal, it is the responsibility of the Operator to ensure that all Products leaving the Terminal shall meet the same relevant specifications, and shall not leave the Terminal with
different specifications. 
 Section 5.3 Contamination. The Operator shall use at least Prudent Industry Practice to
ensure that no Products shall be contaminated with scale or other materials, chemicals, water or any other impurities. 

  
 13 

 Article 6 Condition and Maintenance of the Terminal. 

Section 6.1 Interruption of Service. The Operator shall use commercially reasonable efforts to (i) minimize the
interruption of service at the Terminal, (ii) minimize the impact of any such interruption on the Company and the Company Designee and (iii) notwithstanding any such interruption of service, make the Terminal available to the Minimum
Throughput Capacity. The Operator shall inform the Company at least sixty (60) days in advance (or promptly, in the case of an unplanned interruption) of any anticipated partial or complete interruption of service at the Terminal, including
relevant information about the nature, extent, cause and expected duration of the interruption and the actions the Operator is taking to resume full operations; provided, however, that the Operator shall not have any liability for any
failure to notify, or delay in notifying, the Company of any such matters except to the extent the Company has been materially damaged by such failure or delay. 

Section 6.2 Maintenance and Repair Standards. 

(a) Subject to Article 13, during the Term the Operator shall maintain the Terminal with sufficient aggregate capacity to throughput a
volume of the Company’s Products at least equal to the Minimum Throughput Capacity; provided, however, that the Operator’s obligations may be temporarily suspended during the occurrence of, and for the entire duration of,
routine repair and maintenance consistent with Prudent Industry Practice that prevents the Operator from providing the Minimum Throughput Capacity (“Terminal Maintenance”) so long as the Operator has complied with its
obligations set forth in Section 6.1. In the event the Terminal Maintenance is not as a result of Force Majeure, the Parties shall reasonably cooperate with each other so as to (i) ensure that such Terminal Maintenance does not
unnecessarily interfere with any of the Company’s or the Company Designee’s purchase or sale commitments, (ii) ensure that such Terminal Maintenance otherwise accommodates, to the extent reasonably practicable, other commercial or
market considerations that the Company deems relevant and (iii) reasonably minimize the effect of such Terminal Maintenance on the Services and the Ancillary Services. 

(b) To the extent the Company is prevented for seven (7) or more days in any Contract Quarter from throughputting volumes at the Terminal
equal to at least 4,000 bpd for reasons caused by the Operator (or any of its employees, agents or contractors) other than Force Majeure and other than causes due to actions of the Company or the Company Designee (and any of their respective
contractors, employees or representatives excluding the Operator and its employees, agents and representatives), then the Minimum Throughput Commitment shall be proportionately reduced to the extent of the difference between the Minimum Throughput
Capacity and the amount that the Operator can effectively throughput at the Terminal (prorated for the portion of the Contract Quarter during which the Minimum Throughput Capacity was unavailable) regardless of whether actual throughput amounts
prior to the reduction were below the Minimum Throughput Commitment. At such time as the Operator is capable of throughputting volumes equal to at least 4,000 bpd at the Terminal, the Company’s obligation to throughput the full Minimum
Throughput Commitment shall be restored as of such time. To the extent the Company is prevented for seven (7) or more days in any Contract Quarter from throughputting volumes at the Terminal equal to at least 4,000 bpd, other than due to a
Force Majeure event, and the throughput at the Terminal falls below the Minimum Throughput Capacity as described above in this paragraph (b), the Operator shall make all commercially reasonable repairs at the Terminal to restore the capacity of the

  
 14 

 
Terminal to that required for throughput of the Minimum Throughput Capacity (“Restoration”). All of such Restoration shall be at the Operator’s cost and expense,
unless any damage creating the need for such repairs was caused by the negligence or willful misconduct of the Company, the Company Designee or their respective contractors, employees, agents (excluding for the avoidance of doubt, the Operator and
its contractors, employees and agents) or customers, in which case such Restoration shall be at the Company’s cost and expense to the extent caused by the negligence or willful misconduct of the Company, the Company Designee or their respective
employees, agents or customers. 
 Article 7 Inspection, Access and Audit Rights. 

Section 7.1 Inspection. At any reasonable times during normal business hours and upon reasonable prior notice, the Company,
the Company Designee and their respective representatives (including one or more Supplier Inspector, collectively, the “Company Inspectors”) shall have the right to enter and exit the Operator’s premises in order to have
access to the Terminal, to observe the operations of the Terminal and to conduct such inspections as the Company or the Company Designee may wish to have performed in connection with this Agreement, including to enforce its rights and interests
under this Agreement; provided, however, that (a) each of the Company Inspectors shall follow routes and paths to be reasonably designated by the Operator or security personnel retained by the Operator, (b) each of the
Company Inspectors shall observe all security, fire and safety regulations while in, around or about the Terminal, (c) when accessing the facilities of the Operator, the Company Inspectors shall at all times comply with Applicable Law and such
safety directives and guidelines as may be furnished to the Company or the Company Designee by the Operator by any means (including in writing, orally, electronically or through the posting of signs) from time to time, and (d) the Company or
the Company Designee shall be liable for any personal injury to its representatives or any damage caused by such Company Inspectors in connection with such access to the Terminal. Without limiting the generality of the foregoing, the Operator shall
regularly grant the Company Inspectors such access from the last day of each month until the third (3rd) Business Day of the ensuing month. Notwithstanding any of the foregoing, if an Event
of Default with respect to the Operator has occurred and is continuing, the Company Inspectors shall have unlimited and unrestricted access to the Terminal, for so long as such Event of Default continues. 

Section 7.2 Access. The Company, the Company Designee and their respective representatives, upon reasonable notice and
during normal working hours, shall have access to the accounting records and other documents maintained by the Operator, or any of its contractors and agents, which relate to this Agreement, and shall have the right to audit such records at any
reasonable time or times during the Term and for a period of up to two (2) years after termination of this Agreement. The Company or the Company Designee shall have the right to conduct such audit no more than once per calendar quarter and each
audit shall be limited in time to no more than the present and prior two (2) calendar years. Claims as to defects in quality shall be made by written notice within ninety (90) days after the delivery in question or shall be deemed to have
been waived. The right to inspect or audit such records shall survive termination of this Agreement for a period of two (2) years following the end of the Term. The Operator shall preserve, and shall cause all contractors or agents to preserve,
all of the aforesaid documents for a period of at least two (2) years from the end of the Term. Additionally, the Operator shall make available a copy of any meter calibration report, to be available for inspection upon reasonable

  
 15 

 
request by the Company or the Company Designee at the Terminal following any calibration. Notwithstanding any of the foregoing, if an Event of Default with respect to the Operator has occurred
and is continuing, the Company Inspectors shall have unlimited and unrestricted access to the accounting records and other documents maintained by the Operator with respect to the Terminal, for so long as such Event of Default continues. 

Article 8 Scheduling. 
 The Operator shall
provide the Company and the Company Designee non-discriminatory, priority access rights at the Terminal to throughput the Company’s and the Company Designee’s Products up to the Minimum Throughput Capacity. All deliveries, receipts,
handling and throughput of Product hereunder shall be made in strict accordance with the Operator’s current reasonable operating, scheduling and nomination procedures for the Terminal, which (a) the Operator shall provide to the Company on
the date hereof, (b) the Operator shall not materially modify without the prior written consent of the Company, not to be unreasonably withheld, modified or delayed; provided, however, that the Operator may make any modifications
it reasonably deems necessary to comply with or observe any Applicable Law or for health, safety, environmental, security or other similar concerns consistent with Prudent Industry Practice, and (c) shall allow the throughput of the grades and
qualities of Product specified in Exhibit B. 
 Article 9 Vapor Recovery. 

During the Term, the Company’s Share of any liquids recovered through the vapor recovery at the Terminal will be returned to the Company.

 Article 10 Additional Covenants. 

Section 10.1 Required Permits. During the Term, unless the Company has agreed to maintain such for the benefit of the
Operator, the Operator shall, at its sole cost and expense (directly or through one of its or the Company’s Affiliates), obtain, apply for, maintain, monitor, renew, and modify, as appropriate, any license, authorization, certification, filing,
recording, permit, waiver, exception, variance, franchise, order or other approval with or of any Governmental Authority pertaining or relating to the operation of the Terminal (the “Required Permits”) as currently operated;
provided, however, that if any Required Permits require the signature of, or any action by, the Company or the Company Designee, the Company shall reasonably cooperate with the Operator (at the Operator’s expense) so that the
Operator may obtain and maintain such Required Permits. The Operator shall not do anything in connection with the performance of its obligations under this Agreement that causes a termination or suspension of the Required Permits. 

Section 10.2 Additional Operator Covenants. The Operator hereby: 

(a) (i) confirms that it will post at the Terminal such reasonable placards as the Company or the Company Designee, as applicable, requests
stating that the Company or the Company Designee is the owner of specific Products held at the Terminal; (ii) agrees that it will take all actions necessary to maintain such placards in place for the Term; and (iii) agrees to furnish
documents reasonably acceptable to the Company, the Company Designee and their respective lenders and intermediators and to cooperate with the Company in ensuring and demonstrating that Product titled in the Company’s or the Company
Designee’s name shall not be subject to any lien on the Terminal; 

  
 16 

 (b) acknowledges and agrees that the Company or the Company Designee may file a UCC-1 or other
financing statement with respect to the Products handled or throughput at the Terminal, and the Operator shall cooperate with the Company in executing such financing statements as the Company or the Company Designee deems necessary or appropriate;

 (c) agrees that, subject to Section 4.3, no loss allowances shall be applied to the Products handled or throughput at the
Terminal; 
 (d) agrees to maintain all necessary leases, easements, licenses and rights-of-way necessary for the operation and maintenance
of the Terminal; and 
 (e) agrees that, in the event of any Product spill, leak or discharge or any other environmental pollution caused by
or in connection with the use of the Terminal, the Operator shall promptly commence containment or clean-up operations as required by any Governmental Authorities or Applicable Law or as the Operator deems appropriate or necessary and shall notify
or arrange to notify the Company or the Company Designee immediately of any such spill, leak or discharge and of any such operations. 
 The Company and the
Company Designee shall take all reasonable steps to cooperate with the Operator in connection with the Operator’s performance of each of the covenants in this Section 10.2, in each case, at the Operator’s sole expense. 

Section 10.3 Additional Company Covenants. The Company hereby agrees: 

(a) to replace or repair, at its own expense, any part of the Terminal that is destroyed or damaged through any negligence or willful
misconduct of the Company, the Company Designee (acting in such capacity), or any of their agents or employees (acting in such capacity), or any Company Inspector; and 

(b) to not make any alteration, additions or improvements to the Terminal or remove any part thereof, without the prior written consent of the
Operator, such consent to be at the Operator’s sole discretion. 
 Section 10.4 Existing Obligations. The execution
of this Agreement by the Parties does not reduce any existing obligations of such Parties and does not confer any additional obligation or responsibility on the Company in connection with: (a) any existing or future environmental condition at
the Terminal, including, the presence of a regulated or hazardous substance on or in environmental media at the Terminal (including the presence in surface water, groundwater, soils or subsurface strata, or air), including the subsequent migration
of any such substance; (b) any Environmental Law; (c) the Required Permits; or (d) any requirements arising under or relating to any Applicable Law pertaining or relating to the ownership and operation of the Terminal. 

  
 17 

 Section 10.5 Records. 

(a) Each Party shall (i) maintain the records required to be maintained by Applicable Law and shall make such records available to the
other Party upon reasonable request and (ii) immediately notify the other Party of any violation or alleged violation of any Applicable Law relating to any Products throughput and handled under this Agreement and, upon request, shall provide to
the other Party all evidence of environmental inspections or audits by any Governmental Authority with respect to such Products. 
 (b) All
records or documents provided by any Party to any other Party shall, to the reasonable knowledge of the providing Party, accurately and completely reflect the facts about the activities and transactions to which they relate. Notwithstanding anything
herein to the contrary, no Party shall be required to provide to the other Party any document that is determined by the disclosing Party’s legal counsel to be protected by an attorney-client privilege or attorney work product doctrine. Each
Party shall promptly notify the other Party if at any time such Party has reason to believe that any records or documents previously provided to the other Party are no longer accurate or complete. 

Article 11 Representations. 

Section 11.1 Representations of the Operator. The Operator represents and warrants to the Company that (a) this
Agreement, the rights obtained and the duties and obligations assumed by the Operator hereunder, and the execution and performance of this Agreement by the Operator, do not directly or indirectly violate any Applicable Law with respect to the
Operator or any of its properties or assets, the terms and provisions of the Operator’s organizational documents or any agreement or instrument to which the Operator or any of its properties or assets are bound or subject; (b) the
execution and delivery of this Agreement by the Operator has been authorized by all necessary action; (c) the Operator has the full and complete authority and power to enter into this Agreement and to provide the services hereunder; (d) no
further action on behalf of the Operator, or consents of any other party, are necessary for the provision of services hereunder; and (e) upon execution and delivery by the Operator, this Agreement shall be a valid and binding agreement of the
Operator enforceable in accordance with its terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of
general application regardless of whether enforcement is sought in a proceeding in equity or at law). 
 Section 11.2
Representations of the Company. The Company represents and warrants to the Operator that (a) this Agreement, the rights obtained and the duties and obligations assumed by the Company hereunder, and the execution and performance of
this Agreement by the Company, do not directly or indirectly violate any Applicable Law with respect to the Company or any of its property or assets, the terms and provisions of the Company’s organizational documents or any agreement or
instrument to which the Company or any of its property or assets are bound or subject; (b) the execution and delivery of this Agreement by the Company has been authorized by all necessary action; (c) the Company has the full and complete
authority and power to enter into this Agreement; and (d) upon execution and delivery by the Company, this Agreement shall be a valid and binding agreement of the Company enforceable in accordance with its terms (subject to applicable
bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of general application regardless of whether enforcement is sought in a
proceeding in equity or at law). 

  
 18 

 Article 12 Insurance. 

The Operator, directly or through one of its or the Company’s Affiliates, shall procure and maintain in full force and effect throughout
the Term insurance in sufficient amounts and coverage to be in accordance with Prudent Industry Practice. Such policies shall be endorsed to name the Company and any Company Designee as a loss payee with respect to any of the Company’s or the
Company Designee’s Products in the care, custody or control of the Operator. 
 Article 13 Force Majeure, Damage or Destruction. 

Section 13.1 Force Majeure. In the event that a Party (the “Force Majeure Party”) is rendered
unable, wholly or in part, by a Force Majeure event to perform its obligations under this Agreement, then such Party shall within a reasonable time after the occurrence of such event of Force Majeure deliver to the other Party written notice (a
“Force Majeure Notice”) including full particulars of the Force Majeure event, and the obligations of the Parties, to the extent they are affected by the Force Majeure event, shall be suspended for the duration of any
inability so caused; provided, however, that (a) prior to the second (2nd) anniversary of the Commencement Date, the Company shall be required to continue to make payments
(i) for the Terminaling Service Fees for volumes actually throughput under this Agreement, (ii) for the Ancillary Services Fees, if any, for Ancillary Services performed, and (iii) for any Shortfall Payments unless, in the case of
(iii), the Force Majeure event is an event that adversely affects the Operator’s ability to perform the Services (including making the Minimum Throughput Capacity available to the Company), in which case Shortfall Payments shall not be paid to
the extent of the Force Majeure event’s effect on the Operator’s ability to perform the Services and the Terminaling Service Fees shall only be paid as provided under (a)(i) above, and (b) from and after the second (2nd) anniversary of the Commencement Date, the Company shall be required to continue to make payments (x) for the Terminaling Service Fees for volumes actually throughput under this Agreement
and (y) for the Ancillary Services Fees, if any, for the Ancillary Services actually performed under this Agreement. The Force Majeure Party shall identify in such Force Majeure Notice the approximate length of time that it believes in good
faith such Force Majeure event shall continue (the “Force Majeure Period”). The Company shall be required to pay any amounts accrued and due under this Agreement at the time of the start of the Force Majeure event. The cause
of the Force Majeure event shall so far as possible be remedied with all reasonable efforts, except that no Party shall be compelled to resolve any strikes, lockouts or other industrial or labor disputes other than as it shall determine to be in its
best interests. Prior to the second (2nd) anniversary of the Commencement Date, any suspension of the obligations of the Parties under this Section 13.1 as a result of a Force
Majeure event that adversely affects the Operator’s ability to perform the services it is required to perform under this Agreement shall extend the Term for the same period of time as such Force Majeure event continues (up to a maximum of one
year) unless this Agreement is terminated under Section 13.2. 
 Section 13.2 Termination due to Force
Majeure. If the Force Majeure Party advises in any Force Majeure Notice that it reasonably believes in good faith that the Force Majeure Period shall continue for more than twelve (12) consecutive months beyond the second (2nd) anniversary 

  
 19 

 
of the Commencement Date, then at any time after the delivery of such Force Majeure Notice, either Party may deliver to the other Party a notice of termination (a “Termination
Notice”), which Termination Notice shall become effective not earlier than twelve (12) months after the later to occur of (a) delivery of the Termination Notice and (b) the second (2nd) anniversary of the Commencement Date; provided, however, that such Termination Notice shall be deemed cancelled and of no effect if the Force Majeure Period ends before the
Termination Notice becomes effective, and, upon the cancellation of any Termination Notice, the Parties’ respective obligations hereunder shall resume as soon as reasonably practicable thereafter, and the Term shall be extended by the same
period of time as is required for the Parties to resume such obligations. After the second (2nd) anniversary of the Commencement Date and following delivery of a Termination Notice, the
Operator may terminate this Agreement, to the extent affected by the Force Majeure event, upon sixty (60) days prior written notice to the Company in order to enter into an agreement to provide any third party the services provided to the
Company under this Agreement; provided, however, that the Operator shall not have the right to terminate this Agreement for so long as the Company continues to make Shortfall Payments. 

Article 14 Suspension of Refinery Operations. 

Section 14.1 Suspension of Refinery Operations. From and after the second
(2nd) anniversary of the Commencement Date, in the event that the Company decides to permanently or indefinitely suspend all or substantially all crude oil refining operations at the Refinery
for a period that shall continue for at least twelve (12) consecutive months, the Company may provide written notice to the Operator of the Company’s intent to terminate this Agreement (the “Suspension Notice”).
Such Suspension Notice shall be sent at any time (but not prior to the second (2nd) anniversary of the Commencement Date) after the Company has notified the Operator of such suspension and,
upon the expiration of the period of twelve (12) months (which may run concurrently with the twelve (12) month period described in the immediately preceding sentence) following the date such notice is sent (the “Notice
Period”), this Agreement shall terminate. If the Company notifies the Operator more than two (2) months prior to the expiration of the Notice Period of its intent to resume operations at the Refinery, then the Suspension Notice
shall be deemed revoked and this Agreement shall continue in full force and effect as if such Suspension Notice had never been delivered. During the Notice Period, the Company shall remain liable for Shortfall Payments and all payments per
Section 3.6 and Section 3.10 with respect of Capital Expenditures hereunder. Subject to Section 14.1 and after the fifth (5th) anniversary of the
Commencement Date, during the Notice Period, the Operator may terminate this Agreement upon sixty (60) days prior written notice to the Company in order to enter into an agreement to provide any third party the services provided to the Company
under this Agreement. 
 Section 14.2 Notice of Suspension. If all or substantially all refining operations at the
Refinery are suspended for any reason (including refinery turnaround operations and other scheduled maintenance), then the Company shall remain liable for Shortfall Payments under this Agreement for the duration of the suspension, unless and until
this Agreement is terminated as provided in Section 14.1. The Company shall provide at least ninety (90) days’ prior written notice whenever practical of any suspension of operations at the Refinery due to a planned turnaround
or scheduled maintenance that affects or will affect the Services or the Ancillary Services; provided, however, that the Company shall not have any liability for any failure to notify, or delay in notifying, the Operator of any such
suspension except to the extent the Operator has been materially damaged by such failure or delay. 

  
 20 

 Article 15 Right of First Refusal. 

Section 15.1 Grant of ROFR. The Operator hereby grants to the Company a right of first refusal on any proposed Transfer
(other than a grant of a security interest to a bona fide third-party lender or a Transfer to an Affiliate of the Operator) of any ROFR Asset; provided, however, that the Parties acknowledge and agree that nothing in this Article
15 shall prevent or restrict the Transfer of partnership interests, limited liability interests, equity or ownership interests or other securities of the Operator or create a right of first refusal as a result thereof; provided,
further, that the Company may, without consent or approval from the Operator, assign its rights under this Article 15 to any Affiliate of the Company. 

Section 15.2 Acknowledgement regarding Consents. The Parties acknowledge that all potential Transfers of ROFR Assets
pursuant to this Article 15 are subject to obtaining any and all required written consents of Governmental Authorities and other third parties and to the terms of all existing agreements in respect of the ROFR Assets, as applicable;
provided, however, that the Operator represents and warrants that, to its knowledge after reasonable investigation, there are no terms in such agreements that would materially impair the rights granted to the Company pursuant to this
Article 15 with respect to any ROFR Asset. 
 Section 15.3 Procedures for Transfer of ROFR Asset. 

(a) In the event the Operator proposes to Transfer any of the ROFR Assets (other than a grant of a security interest to a bona fide third-party
lender or a Transfer to an Affiliate of the Operator) pursuant to a bona fide third-party offer (an “Acquisition Proposal”), then the Operator shall, prior to entering into any such Acquisition Proposal, first give notice in
writing to the Company (a “Disposition Notice”) of its intention to enter into such Acquisition Proposal. The Disposition Notice shall include any material terms, conditions and details as would be necessary for the Company
to determine whether to exercise its right of first refusal with respect to the Acquisition Proposal, which terms, conditions and details shall at a minimum include: the name and address of the prospective acquirer (the “Proposed
Transferee”), the ROFR Assets subject to the Acquisition Proposal (the “Sale Assets”), the purchase price offered by such Proposed Transferee (the “Offer Price”), reasonable detail
concerning any non-cash portion of the proposed consideration, if any, to allow the Company to reasonably determine the fair market value of such non-cash consideration, the Operator’s estimate of the fair market value of any non-cash
consideration and all other material terms and conditions of the Acquisition Proposal that are then known to the Operator. To the extent the Proposed Transferee’s offer consists of consideration other than cash (or in addition to cash), the
Offer Price shall be deemed equal to the amount of any such cash plus the fair market value of such non-cash consideration. In the event the Company and the Operator are able to agree on the fair market value of any non-cash consideration or if the
consideration consists solely of cash, the Company will provide written notice of its decision regarding the exercise of its right of first refusal to purchase the Sale Assets (the “ROFR Response”) to the Operator within
sixty (60) days of its receipt of the Disposition Notice (the “First ROFR Acceptance Deadline”). In the event the Company and the Operator are unable to agree on the fair market value of any non-cash consideration prior
to the First ROFR Acceptance 

  
 21 

 
Deadline, the Company shall indicate its desire to determine the fair market value of such non-cash consideration pursuant to the procedures outlined in the remainder of this
Section 15.3 in a ROFR Response delivered prior to the First ROFR Acceptance Deadline. If no ROFR Response is delivered by the Company prior to the First ROFR Acceptance Deadline, then the Company shall be deemed to have waived its right
of first refusal with respect to such Sale Asset. In the event (i) the Company’s determination of the fair market value of any non-cash consideration described in the Disposition Notice is less than the fair market value of such
consideration as determined by the Operator in the Disposition Notice and (ii) the Company and the Operator are unable to mutually agree upon the fair market value of such non-cash consideration within sixty (60) days after the Company
notifies the Operator of its determination thereof, the Operator and the Company will engage a mutually agreed upon, nationally recognized investment banking firm that is not currently engaged in business with either of the Parties to determine the
fair market value of the non-cash consideration. In the event the Parties are unable to agree upon an investment banking firm, each Party will select a nationally recognized investment banking firm, and the two investment banking firms so chosen
will select a third investment banking firm to serve as the investment banking firm for purposes of this Article 15. The investment banking firm will determine the fair market value of the non-cash consideration within thirty (30) days
of its engagement and furnish the Company and the Operator its determination. The fees of the investment banking firm will be split equally between Parties. Once the investment banking firm has submitted its determination of the fair market value of
the non-cash consideration, the Company will provide a ROFR Response to the Operator within thirty (30) days after the investment banking firm has submitted its determination (the “Second ROFR Acceptance Deadline” and
together with the First ROFR Acceptance Deadline, the “ROFR Acceptance Deadlines”). If no ROFR Response is delivered by the Company prior to the Second ROFR Acceptance Deadline, then the Company shall be deemed to have waived
its right of first refusal with respect to such Sale Asset. 
 (b) If the Company elects in a ROFR Response delivered prior to the First ROFR
Acceptance Deadline or Second ROFR Acceptance Deadline, as applicable, to exercise its right of first refusal with respect to a Sale Asset, within sixty (60) days of the delivery of the ROFR Response, such ROFR Response shall be deemed to have
been accepted by the Operator and the Operator shall thereafter enter into a purchase and sale agreement with the Company providing for the consummation of the Acquisition Proposal upon the terms set forth in the ROFR Response. Unless otherwise
agreed between the Company and the Operator, the terms of the purchase and sale agreement will include the following: 
 (i)
the Company will agree to deliver the Offer Price in cash (unless the Company and the Operator agree that such consideration will be paid, in whole or in part, in equity securities of the Company or of an Affiliate of the Company, an
interest-bearing promissory note or similar instrument, or any combination thereof); 
 (ii) the Operator will represent that
it has valid fee or leasehold title, as applicable, to the Sale Asset that is sufficient to operate the Sale Assets in accordance with their historical use, subject to all recorded matters and all physical conditions in existence on the closing date
for the purchase of the applicable Sale Asset, plus any other such matters as the Company may approve (and if the Company desires to obtain any title insurance with respect to the Sale Asset, the full cost and expense of obtaining the same
(including the cost of title examination, document duplication and policy premium) shall be borne by the Company); 

  
 22 

 (iii) the Operator will grant to the Company the right, exercisable at the
Company’s risk and expense prior to the delivery of the ROFR Response, to make such surveys, tests and inspections of the Sale Asset as the Company may deem desirable, so long as such surveys, tests or inspections are neither destructive nor
invasive and do not damage the Sale Asset or interfere with the activities of the Operator; 
 (iv) the Company will have the
right to terminate its obligation to purchase the Sale Asset under this Article 15 if the results of any searches under Section 15.3(b)(ii) or (iii) above are, in the reasonable opinion of the Company, unsatisfactory; 

(v) the closing date for the purchase of the Sale Asset shall occur no later than one hundred eighty (180) days following
receipt by the Operator of the ROFR Response pursuant to Section 15.3(a); 
 (vi) the Operator and the Company
shall use commercially reasonable efforts to do or cause to be done all things that may be reasonably necessary or advisable to effectuate the consummation of any transactions contemplated by this Section 15.3(b), including causing its
respective Affiliates to execute, deliver and perform all documents, notices, amendments, certificates, instruments and consents required in connection therewith; 

(vii) except to the extent modified in the Acquisition Proposal, the sale of any Sale Assets shall be made on an “as
is,” “where is” and “with all faults” basis, and the instruments conveying such Sale Assets shall contain appropriate disclaimers; and 

(viii) neither the Operator nor the Company shall have any obligation to sell or buy the Sale Assets if any of the consents
referred to in Section 15.2 has not been obtained. 
 (c) The Company and the Operator shall cooperate in good faith in obtaining
all necessary governmental and other third-party approvals, waivers and consents required for the closing of the purchase and sale agreement described in Section 16.1(b). Any such closing shall be delayed, to the extent required, until
the third (3rd) Business Day following the expiration of any required waiting periods under the Hart-Scott-Rodino Act; provided, however, that such delay shall not exceed
sixty (60) days following the one hundred eighty (180) days referred to in Section 15.3(b)(v) (the “ROFR Governmental Approval Deadline”) and, if governmental approvals and waiting periods shall not have
been obtained or expired, as the case may be, by such ROFR Governmental Approval Deadline, then the Company shall be deemed to have waived its right of first refusal with respect to the Sale Assets described in the Disposition Notice and thereafter
the Operator shall be free to consummate the Transfer to the Proposed Transferee, subject to Section 15.3(d)(ii). 
 (d) If the
Transfer to the Proposed Transferee (i) in the case of a Transfer other than a Transfer permitted under Section 15.3(c), is not consummated in accordance with the terms of the Acquisition Proposal within the later of (A) one
hundred eighty (180) days after the applicable ROFR Acceptance Deadline and (B) three (3) Business Days after the satisfaction of all governmental approval or filing requirements, if any, or (ii) in the case of a Transfer
permitted under Section 15.3(c), is not consummated within the later of (A) sixty (60) days after the ROFR Governmental Approval Deadline and (B) three (3) Business Days after the satisfaction of all

  
 23 

 
governmental approval or filing requirements, if any, then in each case the Acquisition Proposal shall be deemed to lapse, and the Operator may not Transfer any of the Sale Assets described in
the Disposition Notice without complying again with the provisions of this Article 15 if and to the extent then applicable. 
 Article 16 Shutdown
or Idling of Refinery. 
 Section 16.1 Shutdown or Idling of Refinery. In the event of a Permanent Refinery Shutdown,
the Operator shall have the right to purchase the assets identified in Exhibit D (the “Designated Refinery Assets”) at their fair market value at the time of sale in accordance with this Section 16.1. 

(a) A “Permanent Refinery Shutdown” shall be deemed to have occurred upon the earlier of (i) the cessation of all
or substantially all commercial operation of the Refinery with no current intent on the part of the Company to resume all or substantially all commercial operation thereof or (ii) a change to the Refinery’s current SIC code (i.e., 4610)
applicable to crude oil refining. The Company shall exercise commercially reasonable efforts to provide the Operator with at least sixty (60) days advance notice of a Permanent Refinery Shutdown. 

(b) The Operator may at any time during the two-year period following notice of a Permanent Refinery Shutdown exercise its purchase option
pursuant to this Article 16 (the “Refinery Asset Purchase Option”) by providing written notice (a “Refinery Asset Option Notice”) to the Company. Promptly upon receipt of such Refinery Asset
Option Notice, the Company shall provide the Operator and its designees with access to such information regarding the Designated Refinery Assets as shall be reasonable and customary for the Operator to conduct diligence in accordance with Prudent
Industry Practice on assets such as the Designated Refinery Assets. The Operator shall have a period of not less than ninety (90) days to evaluate such information. 

(c) The Operator and the Company shall, for a period of thirty (30) days following completion of Operator’s diligence in accordance
with Prudent Industry Practice, negotiate in good faith to reach agreement on the terms for a purchase of the Designated Refinery Assets by the Operator; provided, however, that the Parties agree that: (i) the terms (including
price) of any such purchase and sale will be on terms customary for the sale of assets of this nature and otherwise agreeable to both the Operator and the Company; (ii) the purchase price shall be paid at closing in cash; (iii) the Company
shall not be obligated to make any representations as to the condition of the Designated Refinery Assets or any portion thereof; (iv) the Operator shall not be required to purchase the real property on which the Designated Refinery Assets are
located (in which case the Operator shall be entitled to lease or be granted easements to all or a portion of such real property); (v) the Company shall convey all operating and maintenance records reasonably necessary for the operation of the
Designated Refinery Assets; and (vi) the Company shall convey the Designated Refinery Assets free and clear of any charge, claim, covenant, equitable interest, equitable servitude, lien, option, pledge security interest, right of first refusal,
or other restriction of any kind, including any restriction on use, transfer, receipt of income, or exercise of any other attribute 

  
 24 

 
of ownership; provided, however, that the Company shall receive a reasonable easement with respect to the Designated Refinery Assets in order to access such Designated Refinery
Assets in connection with the Company or its Affiliates potential refining operations. 
 (d) If the Operator and the Company are unable to
agree on the terms (including price) for a sale of the Designated Refinery Assets, the Operator and the Company shall engage a mutually agreed upon, nationally recognized investment banking firm to determine any terms (including price) as to which
the Parties are unable to agree with respect to the sale of the Designated Refinery Assets. In the event the Parties are unable to agree upon an investment banking firm, each Party will select a nationally recognized investment banking firm, and the
two investment banking firms so chosen will select a third investment banking firm to serve as the investment banking firm for purposes of this Section 16.1. The investment banking firm shall: (i) base the terms of purchase and sale
on those that are reasonable and customary for the sale of industrial assets such as the Designated Refinery Assets, subject to the provisions of this Section 16.1; (ii) determine the fair market value of the Designated Refinery
Assets based on their then-current operations; and (iii) consider the age, condition, maintenance history, replacement cost, ongoing operating costs, regulatory enforcement actions or fines in effect and other factors the investment banking
firm considers relevant to fair market value. 
 (e) All fees of the investment banking firm incurred in connection with the Refinery Asset
Purchase Option will be split equally between the Operator and the Company. 
 (f) Once the investment banking firm resolves all terms of the
sale regarding the Refinery Asset Purchase Option that the Parties are unable to agree upon, the Operator will have the right, but not the obligation, for a period of ninety (90) days from the investment banking firm’s resolution (such
period, the “Refinery Asset Option Period”) to purchase the Designated Refinery Assets on terms (including price) agreed to by the Parties (as supplemented by any terms determined by the investment banking firm). The Operator
shall notify the Company, in writing delivered during the Refinery Asset Option Period, of its intention to purchase the Designated Refinery Assets. Failure to provide such notice within the Refinery Asset Option Period shall be deemed to constitute
a decision by the Operator not to exercise its Refinery Asset Purchase Option. 
 (g) If the Operator notifies the Company in writing during
the Refinery Asset Option Period of its intention to exercise its Refinery Asset Purchase Option, both Parties shall be obligated to enter into an agreement incorporating the terms (including price) either agreed to by the Parties or determined by
the investment banking firm. If the Operator fails to execute and deliver such an agreement within sixty (60) days of expiration of the Refinery Asset Option Period, the Operator’s Refinery Asset Purchase Option shall be deemed to have
lapsed. 

  
 25 

 Article 17 Event of Default: Remedies Upon Event of Default. 

Section 17.1 Event of Default. Notwithstanding any other provision of this Agreement, but subject to Article 26, the
occurrence of any of the following shall constitute an “Event of Default”: 
 (a) any Party fails to make payment
when due (i) under Article 3 within five (5) Business Days after a written demand therefor or (ii) under any other provision hereof within seven (7) Business Days; 

(b) other than a default described in Sections 17.1(a) or 17.1(c), if the Company or the Operator fails to perform any material
obligation or covenant to the other under this Agreement, which is not cured to the reasonable satisfaction of any other Party within fifteen (15) Business Days after the date that such Party receives written notice that such obligation or
covenant has not been performed; 
 (c) any Party breaches any representation or warranty made by such Party hereunder, or such warranty or
representation proves to have been incorrect or misleading in any material respect when made; provided, however, that if such breach is curable, such breach is not cured to the reasonable satisfaction of the other Party within fifteen
(15) Business Days after the date that such Party receives notice that corrective action is needed; 
 (d) any Party files a petition or
otherwise commences or authorizes the commencement of a proceeding or case under any bankruptcy, reorganization or similar law for the protection of creditors, or have any such petition filed or proceeding commenced against it and such proceeding is
not dismissed for sixty (60) days; and 
 (e) the Operator sells or permits the creation of, or suffers to exist any security interest,
lien, encumbrance, charge or other claim of any nature (other than Permitted Liens or liens or liens that existed with respect to such Product prior to the throughput by the Company or the Company Designee hereunder) with respect to any of the
Products. 
 Section 17.2 Termination in the Event of Default. Except as set forth in Section 17.1(d),
without limiting any other provision of this Agreement, if an Event of Default with respect to the Company or the Operator (such defaulting Party, the “Defaulting Party”) has occurred and is continuing, the Non-Defaulting
Party shall have the right, immediately and at any time(s) thereafter, to terminate this Agreement upon written notice to the Defaulting Party. 

Section 17.3 Other Remedies. Without limiting any other rights or remedies hereunder, if an Event of Default occurs and the
Company is the Non-Defaulting Party, the Company may, in its discretion, (a) withhold or suspend its obligations, including any of its delivery or payment obligations, under this Agreement, (b) reclaim and repossess any and all of its
Products held at the Terminal or elsewhere on the Operator’s premises, and (c) otherwise arrange for the disposition of any of its Products in such manner as it elects. 

Section 17.4 Set Off. If an Event of Default occurs, the Non-Defaulting Party may, without limitation on its rights under
this Article 17, set off amounts which the Defaulting Party owes to it against any amounts which it owes to the Defaulting Party (whether hereunder, under any other agreement or contract or otherwise and whether or not then due). Any net
amount due hereunder shall be payable by the Party owing such amount within one (1) Business Day of termination. 

  
 26 

 Section 17.5 No Preclusion of Rights. The Non-Defaulting Party’s rights
under this Section 17.5 shall be in addition to, and not in limitation of, any other rights which the Non-Defaulting Party may have (whether by agreement, operation of law or otherwise), including any rights of recoupment, setoff,
combination of accounts, as a secured party or under any other credit support. The Defaulting Party shall indemnify and hold the Non-Defaulting Party harmless from all costs and expenses, including reasonable attorney fees, incurred in the exercise
of any remedies hereunder. 
 Article 18 Indemnification. 

Section 18.1 Indemnification by Operator. The Operator shall defend, indemnify and hold harmless the Company, the Company
Designee, their respective Affiliates, and their respective directors, officers, employees, representatives, agents, contractors, successors and permitted assigns (collectively, the “Company Indemnitees”) from and against any
Liabilities directly or indirectly arising out of (a) any breach by the Operator of any covenant or agreement contained herein or made in connection herewith or any representation or warranty of the Operator made herein or in connection
herewith proving to be false or misleading, (b) any failure by the Operator, its Affiliates or any of their respective employees, representatives, agents or contractors to comply with or observe any Applicable Law, or (c) injury, disease,
or death of any Person or damage to or loss of any property, fine or penalty, any of which is caused by the Operator, its Affiliates or any of their respective employees, representatives, agents or contractors in the exercise of any of the rights
granted hereunder or the handling or transportation of any Products hereunder, except to the extent of the Company’s obligations under Section 18.2 below, and except to the extent that such injury, disease, death, or damage to or
loss of property, fine or penalty was caused by the gross or sole negligence or willful misconduct on the part of the Company Indemnitees, their Affiliates or any of their respective employees, representatives, agents or contractors. Notwithstanding
the foregoing, the Operator’s liability to the Company Indemnitees pursuant to this Section 18.1 shall be net of any insurance proceeds actually received by the Company Indemnitees or any of their respective Affiliates from any
third party with respect to or on account of the damage or injury which is the subject of the indemnification claim. The Company agrees that it shall, and shall cause the other Company Indemnitees to, (i) use all commercially reasonable efforts
to pursue the collection of all insurance proceeds to which any of the Company Indemnitees are entitled with respect to or on account of any such damage or injury, (ii) notify the Operator of all potential claims against any third party for any
such insurance proceeds, and (iii) keep the Operator fully informed of the efforts of the Company Indemnitees in pursuing collection of such insurance proceeds. 

Section 18.2 Indemnification by Company. The Company shall defend, indemnify and hold harmless the Operator, its
Affiliates, and their respective directors, officers, employees, representatives, agents, contractors, successors and permitted assigns (collectively, the “Operator Indemnitees”) from and against any Liabilities directly or
indirectly arising out of (a) any breach by the Company of any covenant or agreement contained herein or made in connection herewith or any representation or warranty of the Company made herein or in connection herewith proving to

  
 27 

 
be false or misleading, (b) any personal injury incurred by any representative of the Company or the Company Designee (including any Supplier Inspector or Company Inspector) while on the
Operator’s property, (c) any failure by the Company, the Company Designee, their respective Affiliates or any of their respective employees, representatives (including any Supplier Inspector or Company Inspector), agents or contractors to
comply with or observe any Applicable Law, or (d) injury, disease, or death of any Person or damage to or loss of any property, fine or penalty, any of which is caused by the Company, the Company Designee, their respective Affiliates or any of
their respective employees, representatives (including any Supplier Inspector or Company Inspector), agents or contractors in the exercise of any of the rights granted hereunder or the refining or storage of any Products hereunder, except to the
extent of the Operator’s obligations under Section 18.1 above, and except to the extent that such injury, disease, death, or damage to or loss of property, fine or penalty was caused by the gross or sole negligence or willful
misconduct on the part of the Operator Indemnitees, their Affiliates or any of their respective employees, representatives, agents or contractors. Notwithstanding the foregoing, the Company’s liability to the Operator Indemnitees pursuant to
this Section 18.2 shall be net of any insurance proceeds actually received by the Operator Indemnitees or any of their respective Affiliates from any third party with respect to or on account of the damage or injury which is the subject
of the indemnification claim. The Operator agrees that it shall, and shall cause the other Operator Indemnitees to, (i) use all commercially reasonable efforts to pursue the collection of all insurance proceeds to which any of the Operator
Indemnitees are entitled with respect to or on account of any such damage or injury, (ii) notify the Company of all potential claims against any third party for any such insurance proceeds, and (iii) keep the Company fully informed of the
efforts of the Operator Indemnitees in pursuing collection of such insurance proceeds. 
 Section 18.3 EXPRESS REMEDY.
THE FOREGOING INDEMNITIES ARE INTENDED TO BE ENFORCEABLE AGAINST THE PARTIES IN ACCORDANCE WITH THE EXPRESS TERMS AND SCOPE THEREOF NOTWITHSTANDING ANY EXPRESS NEGLIGENCE RULE OR ANY SIMILAR DIRECTIVE THAT WOULD PROHIBIT OR OTHERWISE LIMIT
INDEMNITIES BECAUSE OF THE SOLE, CONCURRENT, ACTIVE OR PASSIVE NEGLIGENCE, STRICT LIABILITY OR FAULT OF ANY OF THE INDEMNIFIED PARTIES. 
 Article 19
Limitation on Damages. 
 Notwithstanding anything to the contrary contained herein, neither Party shall be liable or responsible to the
other Party or such other Party’s affiliated Persons for any consequential, punitive, special, incidental or exemplary damages, or for loss of profits or revenues (collectively referred to as “Special Damages”) incurred
by such Party or its affiliated Persons that arise out of or relate to this Agreement, regardless of whether any such claim arises under or results from contract, tort, or strict liability; provided, however, that the foregoing
limitation is not intended and shall not affect Special Damages in connection with any third-party claim or imposed in favor of unaffiliated Persons that are not Parties to this Agreement; provided, further, that to the extent an
indemnitor hereunder receives insurance proceeds with respect to Special Damages that would be indemnified hereunder if not for this Article 19, such indemnitor shall be liable up to the amount of such insurance proceeds (net any deductible
and premiums paid with respect thereto). 

  
 28 

 Article 20 Confidentiality. 

Section 20.1 Obligations. Each Party shall use commercially reasonable efforts to retain the other Party’s Confidential
Information in confidence and not disclose the same to any third party (other than a Company Designee, provided the Company Designee has agreed to adhere to this Article 20, or any Receiving Party Personnel) nor use the same, except as
authorized by the disclosing Party in writing or as expressly permitted in this Section 20.1. Each Party further agrees to take the same care with the other Party’s Confidential Information as it does with its own, but in no event
less than a reasonable degree of care. 
 Section 20.2 Required Disclosure. Notwithstanding Section 20.1
above, if the receiving Party becomes legally compelled to disclose the Confidential Information by a court, Governmental Authority or Applicable Law, including the rules and regulations of the Securities and Exchange Commission, or is required to
disclose pursuant to the rules and regulations of any national securities exchange upon which the receiving Party or its parent entity is listed, any of the disclosing Party’s Confidential Information, the receiving Party shall promptly advise
the disclosing Party of such requirement to disclose Confidential Information as soon as the receiving Party becomes aware that such a requirement to disclose might become effective, in order that, where possible, the disclosing Party may seek a
protective order or such other remedy as the disclosing Party may consider appropriate in the circumstances. The receiving Party shall disclose only that portion of the disclosing Party’s Confidential Information that it is required to disclose
and shall reasonably cooperate with the disclosing Party (at the disclosing Party’s cost) in allowing the disclosing Party to obtain such protective order or other relief. 

Section 20.3 Return and Destruction of Information. Upon written request by the disclosing Party, all of the disclosing
Party’s Confidential Information in whatever form shall be returned to the disclosing Party upon termination of this Agreement or destroyed with destruction certified by the receiving Party, without the receiving Party retaining copies thereof
except that one copy of all such Confidential Information may be retained by a Party’s legal department solely to the extent that such Party is required to keep a copy of such Confidential Information pursuant to Applicable Law, and the
receiving Party shall be entitled to retain any Confidential Information in the electronic form or stored on automatic computer back-up archiving systems during the period such backup or archived materials are retained under such Party’s
customary procedures and policies; provided, however, that notwithstanding any termination or expiration of this Agreement, any Confidential Information retained by the receiving Party shall be maintained subject to confidentiality
pursuant to the terms of this Section 20.3, and such archived or back-up Confidential Information shall not be accessed except as required by Applicable Law for so long as such Confidential Information is retained. 

Section 20.4 Receiving Party Personnel. The receiving Party will limit access to the Confidential Information of the
disclosing Party to those of its employees, attorneys and contractors that have a need to know such information in order for the receiving Party to exercise or perform its rights and obligations under this Agreement (the “Receiving Party
Personnel”). The Receiving Party Personnel who have access to any Confidential Information of the disclosing Party will be made aware of the confidentiality provisions of this Agreement, and will be required to abide by the terms
thereof. Any third-party contractors that are given access to Confidential Information of a disclosing Party pursuant to the terms hereof shall be required to sign a written 

  
 29 

 
agreement pursuant to which such Receiving Party Personnel agree to be bound by the provisions of this Agreement, which written agreement will expressly state that it is enforceable against such
Receiving Party Personnel by the disclosing Party. 
 Section 20.5 Survival. The obligation of confidentiality under this
Article 20 shall survive the termination of this Agreement for a period of two (2) years. 
 Article 21 Choice of Law. 

This Agreement shall be subject to and governed by the laws of the State of Delaware, excluding any conflicts-of-law rule or principle that
might refer the construction or interpretation of this Agreement to the laws of another state. Subject to Article 26, the Parties agree to the venue and jurisdiction of the federal or state courts located in the State of Delaware for the
adjudication of all disputes arising out of this Agreement. 
 Article 22 Assignment. 

Section 22.1 Assignment by the Company. Except as set forth in this Article 22, the Company shall not assign its
rights or obligations hereunder without the Operator’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed; provided, however, that (a) the Company may assign this Agreement without
the Operator’s consent in connection with a sale by the Company of its inventory of Products, or all or substantially all of the Refinery, including by merger, equity sale, asset sale or otherwise, so long as the transferee: (i) agrees to
assume all of the Company’s obligations under this Agreement; and (ii) is financially and operationally capable of fulfilling the terms of this Agreement, which determination shall be made by the Company in its reasonable judgment; and
(b) the Company shall be permitted to make a collateral assignment of this Agreement solely to secure financing for itself or any of its Affiliates. 

Section 22.2 Company Designee. 

(a) Without the Operator’s consent, the Company shall be permitted to assign the Company’s rights to use, hold the Products in, and
transport the Products through, the Terminal pursuant to this Agreement, to the Company Designee. 
 (b) The Company shall act as the Company
Designee’s counterparty for all purposes of this Agreement, and the Operator shall be entitled to follow the Company’s instructions with respect to all of the Company Designee’s Products that are transported or handled by the Operator
pursuant to this Agreement unless and until the Operator is notified by the Company Designee in writing that the Company is no longer authorized to act as the Company Designee’s counterparty, in which case the Operator shall thereafter follow
the instructions of the Company Designee (or such other agent as the Company Designee may appoint) with respect to all the Company Designee’s Products that are transported or handled by the Operator pursuant to this Agreement. The Company shall
be responsible for all the Company Designee’s payments to the Operator hereunder; provided, however, that the Operator shall accept payment in connection with this Agreement directly from any Company Designee and apply such
payments against amounts owed by the Company hereunder. All volumes throughput by the Company Designee will be taken into account in the determination of whether the Company has satisfied its Minimum Throughput Commitment. During any time that this
Agreement is assigned to the Company Designee, all 

  
 30 

 
provisions of this Agreement, as amended or adjusted by this Article 22, shall be in full force and effect with respect to the Company Designee and the Company Designee’s Products as
if the Company Designee were Party hereto in place of the Company. 
 Section 22.3 Assignment by the Operator. The
Operator shall not assign its rights or obligations under this Agreement without the prior written consent of the Company, which consent shall not be unreasonably withheld, conditioned or delayed; provided, however, that
(a) subject to Article 15 hereof and Article VI of the Omnibus Agreement, the Operator may assign this Agreement without such consent in connection with a sale by the Operator of all or substantially all of the Terminal, including by
merger, equity sale, asset sale or otherwise, so long as the transferee: (i) agrees to assume all of the Operator’s obligations under this Agreement; (ii) is financially and operationally capable of fulfilling the terms of this
Agreement, which determination shall be made by the Operator in its reasonable judgment; and (iii) is not a competitor of the Company, as determined by the Company in good faith; and (b) the Operator shall be permitted to make a collateral
assignment of this Agreement solely to secure financing for the Operator and its Affiliates. 
 Section 22.4 Terms of
Assignment. Any assignment that is not undertaken in accordance with the provisions set forth above shall be null and void ab initio. A Party making any assignment shall promptly notify the other Party of such assignment, regardless
of whether consent is required. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and permitted assigns. 

Section 22.5 Change of Control. The Parties’ obligations hereunder shall not terminate in connection with a Change of
Control; provided, however, that in the case of a Change of Control, the Company shall have the option to extend the Term as provided in Section 2.1, without regard to the notice period provided in the fourth sentence of
Section 2.1. 
 Article 23 Notices. 

All notices, requests, demands, and other communications hereunder will be in writing and will be deemed to have been duly given: (a) if
by transmission by facsimile or hand delivery, when delivered; (b) if mailed via the official governmental mail system, five (5) Business Days after mailing, provided said notice is sent first class, postage pre-paid, via certified or
registered mail, with a return receipt requested; (c) if mailed by an internationally recognized overnight express mail service such as Federal Express or UPS, one (1) Business Day after deposit therewith prepaid; or (d) if by email,
one (1) Business Day after delivery with receipt confirmed. All notices will be addressed to the Parties at the respective addresses as follows: 
 If
to the Company: 
 PBF Holding Company LLC 

One Sylvan Way, Second Floor 

Parsippany, NJ 07054 
 Attn:
Jeffrey Dill, General Counsel 
 Telecopy No: (973) 455-7500 

Email: jeffrey.dill@pbfenergy.com 

  
 31 

 with a copy, which shall not constitute notice, to: 

PBF Energy Company LLC 
 One
Sylvan Way, Second Floor 
 Parsippany, NJ 07054 

Attn: Jeffrey Dill, General Counsel 

Telecopy No: (973) 455-7500 

Email: jeffrey.dill@pbfenergy.com 
 If to the
Operator: 
 PBF Logisitics LP 

c/o PBF Logistics GP LLC 
 One
Sylvan Way, Second Floor 
 Parsippany, NJ 07054 

Attn: Jim Fedena, Senior VP, Logistics 

Telecopy No: (973) 455-7500 

Email: jim.fedena@pbfenergy.com 
 with a copy,
which shall not constitute notice, to: 
 PBF Logistics GP LLC 

One Sylvan Way, Second Floor 

Parsippany, NJ 07054 
 Attn: Matt
Lucey, Executive VP 
 Telecopy No: (973) 455-7500 

Email: matt.lucey@pbfenergy.com 
 or to such
other address or to such other person as either Party will have last designated by notice to the other Party. 
 Article 24 No Waiver; Cumulative
Remedies. 
 Section 24.1 No Waivers. The failure of a Party hereunder to assert a right or enforce an obligation of
the other Party shall not be deemed a waiver of such right or obligation. The waiver by any Party of a breach of any provision of, or Event of Default under, this Agreement shall not operate or be construed as a waiver of any other breach of that
provision or as a waiver of any breach of another provision of, Event of Default or potential Event of Default under, this Agreement, whether of a like kind or different nature. 

Section 24.2 Cumulative Remedies. Each and every right granted to the Parties under this Agreement or allowed it by law or
equity, shall be cumulative and may be exercised from time to time in accordance with the terms thereof and Applicable Law. 

  
 32 

 Article 25 Nature of Transaction and, Relationship of Parties. 

Section 25.1 Independent Contractor. This Agreement shall not be construed as creating a partnership, association or joint
venture among the Parties. It is understood that the Operator is an independent contractor with complete charge of its employees and agents in the performance of its duties hereunder, and nothing herein shall be construed to make the Operator, or
any employee or agent of the Operator, an agent or employee of the Company. 
 Section 25.2 No Agency. No Party shall
have the right or authority to negotiate, conclude or execute any contract or legal document with any third person in the name of the other Party; to assume, create, or incur any liability of any kind, express or implied, against or in the name of
any of the other Party; or to otherwise act as the representative of the other Party, unless expressly authorized in writing by the other Party. 

Article 26 Arbitration Provision. 
 Any
and all Arbitrable Disputes (except to the extent injunctive relief is sought) shall be resolved through the use of binding arbitration using, in the case of an Arbitrable Dispute involving a dispute of an amount equal to or greater than $1,000,000
or non-monetary relief, three arbitrators, and in the case of an Arbitrable Dispute involving a dispute of an amount less than $1,000,000, one arbitrator, in each case in accordance with the Commercial Arbitration Rules of the American Arbitration
Association, as supplemented to the extent necessary to determine any procedural appeal questions by the Federal Arbitration Act (Title 9 of the United States Code). If there is any inconsistency between this Article 26 and the
Commercial Arbitration Rules or the Federal Arbitration Act, the terms of this Article 26 will control the rights and obligations of the Parties. Arbitration must be initiated within the time limits set forth in this Agreement, or if no
such limits apply, then within a reasonable time or the time period allowed by the applicable statute of limitations. Arbitration may be initiated by a Party (“Claimant”) serving written notice on the other Party
(“Respondent”) that Claimant elects to refer the Arbitrable Dispute to binding arbitration. Claimant’s notice initiating binding arbitration must identify the arbitrator Claimant has appointed. Respondent shall respond
to Claimant within thirty (30) days after receipt of Claimant’s notice, identifying the arbitrator Respondent has appointed. If Respondent fails for any reason to name an arbitrator within the 30-day period, Claimant shall petition the
American Arbitration Association for appointment of an arbitrator for Respondent’s account. The two arbitrators so chosen shall select a third arbitrator within thirty (30) days after the second arbitrator has been appointed, and, in the
of an Arbitrable Dispute involving a dispute of an amount less than $1,000,000, such third arbitrator shall act as the sole arbitrator, and the sole role of the first two arbitrators shall be to appoint such third arbitrator. Claimant will pay the
compensation and expenses of the arbitrator named by or for it, and Respondent will pay the compensation and expenses of the arbitrator named by or for it. The costs of petitioning for the appointment of an arbitrator, if any, shall be paid by
Respondent. Claimant and Respondent will each pay one-half of the compensation and expenses of the third arbitrator. All arbitrators must (a) be neutral parties who have never been officers, directors or employees of the Operator, the Company
or any of their Affiliates and (b) have not less than seven (7) years’ experience in the energy industry. The hearing will be conducted in the State of Delaware or the Philadelphia Metropolitan area and commence within thirty
(30) days after the selection of the third arbitrator. The Company, the Operator and the arbitrators shall proceed diligently and in good faith in order that the award may 

  
 33 

 
be made as promptly as possible. Except as provided in the Federal Arbitration Act, the decision of the arbitrators will be binding on and non-appealable by the Parties hereto. The arbitrators
shall have no right to grant or award Special Damages. Notwithstanding anything herein the contrary, the Company may not dispute any amounts with respect to an invoice delivered in accordance with Section 3.8 that the Company has not
objected to within one hundred twenty (120) days of receipt thereof. No Event of Default shall occur if the subject matter underlying such potential Event of Default is the subject matter of any dispute that is pending resolution or arbitration
under this Article 26 until such time that such dispute is resolved in accordance with this Article 26. 
 Article 27 General. 

Section 27.1 Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be
valid and effective under Applicable Law, but if any provision of this Agreement or the application of any such provision to any person or circumstance will be held invalid, illegal or unenforceable in any respect by a court of competent
jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision hereof, and the Parties will negotiate in good faith with a view to substitute for such provision a suitable and equitable solution in order to carry
out, so far as may be valid and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision. 

Section 27.2 Entire Agreement. This Agreement, the Operation and Management Services and Secondment Agreement and the
Omnibus Agreement together constitute the entire agreement among the Parties pertaining to the subject matter hereof and supersede all prior agreements and understandings of the Parties in connection therewith. No promise, representation or
inducement has been made by any of the Parties concerning the subject matter of this Agreement and none of the Parties shall be bound by or liable for any alleged representation, promise or inducement not so set forth. 

Section 27.3 Time is of the Essence. Time is of the essence with respect to all aspects of each Party’s performance of
any obligations under this Agreement. 
 Section 27.4 No Third-Party Beneficiaries. It is expressly understood that the
provisions of this Agreement do not impart enforceable rights in anyone who is not a Party or successor or permitted assignee of a Party; provided, however, that upon written request from the Company, this Agreement will be amended by
the Parties to make any Company Designee or lender or intermediator of the Company or any Company Designee a third-party beneficiary hereof. 

Section 27.5 Further Assurances. In connection with this Agreement and all transactions contemplated by this Agreement,
each signatory Party hereto agrees to execute and deliver such additional documents and instruments and to perform such additional acts as may be necessary or appropriate to effectuate, carry out and perform all of the terms, provisions and
conditions of this Agreement and all such transactions. 
 Section 27.6 Survival. All audit rights, payment,
confidentiality and indemnification obligations and obligations under this Agreement shall survive the expiration or termination of this Agreement in accordance with their terms. 

  
 34 

 Section 27.7 Counterparts. This Agreement may be executed in one or more
counterparts (including by facsimile or portable document format (pdf)) for the convenience of the Parties hereto, each of which counterparts will be deemed an original, but all of which counterparts together will constitute one and the same
agreement. 
 [Remainder of Page Intentionally Left Blank] 

  
 35 

 IN WITNESS WHEREOF, the Parties have duly executed this Agreement on the date first set forth
above. 
  

			
	COMPANY:
	
	PBF HOLDING COMPANY LLC
		
	By:	 	/s/ Jeffrey Dill
	Name:	 	Jeffrey Dill
	Title:	 	Secretary

  

			
	OPERATOR:
	
	PBF LOGISTICS LP
	By: PBF Logistics GP LLC, its general partner
		
	By:	 	/s/ Jeffrey Dill
	Name:	 	Jeffrey Dill
	Title:	 	Secretary

  
 36 

 Exhibit A 

Ancillary Services Fees 
  

					
	 	  	Service	  	 Fee or Specification

	1.	  	Metering	  	To be agreed upon, if applicable during the Term.
	2.	  	TruckManagement	  	To be agreed upon, if applicable during the Term.

 If any additional ancillary services are requested by the Company in accordance with the Agreement, the Parties shall
reasonably negotiate to determine the appropriate rates to be charged for such services. 
 EXHIBIT A 

  
 A-1 

 Exhibit B  

Product 
 Product: Crude Oil 

Product Specifications: 
 API 30 – 45 

H2S < 10 ppm in breathing zone 
 TVP < 11.1 psi 

Pour Point < 0 degf 

EXHIBIT B 

  
 B-1 

 Exhibit C 

Nomination and Scheduling 
 Nominations
and Scheduling. 
 The Company will provide to the Operator, by email or facsimile, or by other means mutually agreed by the Operator and the Company
from time to time, no later than the twenty-fifth (25th) day of each calendar month throughout the Term, a good faith monthly nomination (a “Nomination”) of the volume of Crude Oil that the Company projects it will
deliver to the Terminal by truck during the following calendar month (to be delivered to the Terminal on a ratable basis throughout such month). The volume will be broken down per grade per supplier. 

The Company will provide the Operator with intra-month revisions with respect to the Company’s then-current Nomination when information becomes
available. 
 EXHIBIT C 

  
 C-1 

 Exhibit D 

Designated Refinery Assets 
 Designated
Refinery Assets 

	 	•	 	LACT Units piping (16-746, 16-738, 16-740, 16-736) 

	 	•	 	LACT common header (16-729) 

	 	•	 	TK405 fill from LACTs & Transmix (16-730) 

	 	•	 	Crude tank (TK405) and associated fire suppression system 

	 	•	 	LPG building 

	 	•	 	Security Shack on Wheeling St. 

	 	•	 	Emergency Response Equipment (specifically?) 

	 	•	 	69Kv electrical feed along Railroad ROW from Toledo Edision 

	 	•	 	Firewater piping, pumps and firewater reserve capacity (pond) in tank farm 2 

	 	•	 	Local fire extinguishers at LACT units 

	 	•	 	Mutual Aid contract with Oregon Fire Department 

	 	•	 	Land occupied by the Truck Unloading Terminal 

	 	•	 	Land or ROW for areas additional assets identified above 

	 	•	 	Equipment to enable future tie into crude pipelines: 

	 	¡ 	 	Common lines 

	 	•	 	TK405 booster (P-16019) 

	 	•	 	P-16019 discharge line (16-137) 

	 	¡ 	 	SXL crude line 

	 	•	 	Crude charge pumps suction line (16-8) 

	 	•	 	Crude charge pumps (P-1655A & B) 

	 	•	 	Crude charge pumps discharge line (16-5) 

	 	•	 	New spool to tie in line 16-5 to SXL crude delivery line (16-65) 

	 	¡ 	 	BPL 

	 	•	 	New spool to tie in line 16-137 to existing intermediate feed transfer line (16-327) 

	 	•	 	Intermediate feed transfer line (16-15) 

	 	•	 	Intermediate feed transfer line (16-312) 

	 	•	 	Buckeye pump suction manifold (16-202) 

	 	•	 	Buckeye pump suction manifold (16-725) 

	 	•	 	Buckeye pump (P-16132) 

	 	•	 	Buckeye pump discharge manifold (16-726) 

	 	•	 	Buckeye line (Line 417) 

 EXHIBIT D 

  
 D-1 

	 	¡ 	 	Mid Valley 

	 	•	 	New spool to tie in line 16-137 to existing intermediate feed transfer line (16-327) 

	 	•	 	Intermediate feed transfer line (16-15) 

	 	•	 	Intermediate feed transfer line (16-312) 

	 	•	 	Buckeye pump suction manifold (16-202) 

	 	•	 	Buckeye pump suction manifold (16-725) 

	 	•	 	Buckeye pump (P-16132) 

	 	•	 	Buckeye pump discharge manifold (16-726) 

	 	•	 	New spool to tie in pump discharge manifold (16-726) to Mid Valley crude deliver line 

EXHIBIT D 

  
 D-2EX-10.8

 Exhibit 10.8 

PBF LOGISTICS LP 
 2014
LONG-TERM INCENTIVE PLAN 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	Section 1.	 	 Purpose of the Plan
	  	 	1	  
	Section 2.	 	 Definitions
	  	 	1	  
	Section 3.	 	 Administration
	  	 	5	  
	(a)	 	 Authority of the Committee
	  	 	5	  
	(b)	 	 Manner and Exercise of Committee Authority
	  	 	5	  
	(c)	 	 Limitation of Liability; Outside Advisors
	  	 	6	  
	(d)	 	 Exemptions from Section 16(b) Liability
	  	 	6	  
	Section 4.	 	 Units
	  	 	6	  
	(a)	 	 Limits on Units Deliverable
	  	 	6	  
	(b)	 	 Units Available Under the Plan
	  	 	7	  
	(c)	 	 Sources of Units Deliverable Under Awards
	  	 	7	  
	(d)	 	 Anti-Dilution Adjustments
	  	 	7	  
	(e)	 	 Additional Issuances
	  	 	8	  
	Section 5.	 	 Eligibility
	  	 	8	  
	Section 6.	 	 Awards
	  	 	8	  
	(a)	 	 General
	  	 	8	  
	(b)	 	 Options and Unit Appreciation Rights
	  	 	8	  
	(c)	 	 Restricted Units and Phantom Units
	  	 	9	  
	(d)	 	 Unit Awards
	  	 	10	  
	(e)	 	 Other Unit Based Awards
	  	 	10	  
	(f)	 	 DERs
	  	 	11	  
	(g)	 	 Substitute Awards
	  	 	11	  
	(h)	 	 Performance Awards
	  	 	11	  
	(i)	 	 Certain Provisions Applicable to Awards
	  	 	12	  
	Section 7.	 	 Amendment and Termination
	  	 	15	  
	(a)	 	 Amendments to the Plan and Awards
	  	 	15	  
	(b)	 	 Subdivision or Consolidation of Units
	  	 	15	  
	(c)	 	 Recapitalizations
	  	 	16	  
	(d)	 	 Additional Issuances
	  	 	16	  
	(e)	 	 Change of Control
	  	 	17	  
	(f)	 	 Change of Control Price
	  	 	17	  

							
	(g)	  	 Impact of Corporate Events on Awards Generally
	  	 	18	  
	Section 8.	  	 General Provisions
	  	 	18	  
	(a)	  	 No Rights to Award
	  	 	18	  
	(b)	  	 Tax Withholding
	  	 	18	  
	(c)	  	 No Right to Employment or Services
	  	 	18	  
	(d)	  	 Governing Law
	  	 	19	  
	(e)	  	 Severability
	  	 	19	  
	(f)	  	 Other Laws
	  	 	19	  
	(g)	  	 No Fractional Units
	  	 	19	  
	(h)	  	 Headings; Construction
	  	 	19	  
	(i)	  	 Facility of Payment
	  	 	19	  
	(j)	  	 Allocation of Costs
	  	 	20	  
	(k)	  	 Gender and Number
	  	 	20	  
	(l)	  	 Compliance with Section 409A
	  	 	20	  
	(m)	  	 No Guarantee of Tax Consequences
	  	 	20	  
	(n)	  	 Certificates
	  	 	20	  
	(o)	  	 Funding
	  	 	21	  
	(p)	  	 Non-Uniform Determinations
	  	 	21	  
	(q)	  	 Survival of Terms; Conflicts
	  	 	21	  
	(r)	  	 Arbitration
	  	 	21	  
	Section 9.	  	 Term of the Plan
	  	 	21	  

  
 ii 

 PBF LOGISTICS LP 

2014 LONG TERM INCENTIVE PLAN 

Section 1. Purpose of the Plan. The PBF Logistics LP 2014 Long-Term Incentive Plan (the
“Plan”) has been adopted by PBF Logistics GP LLC, a Delaware limited liability company, the general partner (the “General Partner”) of PBF Logistics LP, a
Delaware limited partnership (the “Partnership”). The Plan is intended to promote the interests of the General Partner, the Partnership and their Affiliates by providing to Employees, Directors and certain other
service providers incentive compensation awards to encourage superior performance. The Plan is also contemplated to enhance the ability of the General Partner, the Partnership and their respective Affiliates (collectively, the
“Partnership Entities”) to attract and retain the services of individuals who are essential for the growth and profitability of the Partnership and to encourage them to devote their best efforts to advancing the
business of the Partnership. 
 Section 2. Definitions. As used in the Plan, the following terms shall have the
meanings set forth below: 
 (a) “Affiliate” means with respect to any Person, (i) any other Person directly or
indirectly through one or more intermediaries controlling, controlled by or under common control with such Person; or (ii) any entity in which the Person has a significant equity interest, as determined by the Committee. 

(b) “Award” means an Option, Unit Appreciation Right, Restricted Unit, Phantom Unit, Unit Award,
Performance Award, Substitute Award, Other Unit Based Award, or Cash Award granted under the Plan and DERs granted alone or in tandem with an Award (other than a Restricted Unit or Unit Award) as determined by the Committee in its sole discretion,
consistent with the terms of the Plan. 
 (c) “Award Agreement” means a written or
electronic agreement or documents between the General Partner and the Participant of an Award that sets forth the terms, conditions and limitations applicable to such Award. 

(d) “Board” means the Board of Directors of the General Partner. 

(e) “Cash Award” means an award denominated in cash. 

(f) “Cause” with respect to any Participant means “Cause” as defined in the Participant’s employment
agreement or other service-related agreement with any of the Partnership Entities that is in effect on the date of the Participant’s separation from service, or, if the Participant does not have an employment agreement or other service-related
agreement with any of the Partnership Entities, or if such term is not defined therein, then Cause shall mean: (A) the commission of an act of gross negligence, willful misconduct, breach of fiduciary duty, fraud, theft or embezzlement on the
part of the Participant, in any case that adversely affects or may reasonably be expected to adversely affect the business or reputation of the Partnership Entities; (B) the conviction or indictment of the Participant, or a plea of nolo
contendere by the Participant, to any felony or any crime involving moral turpitude; or (C) the continued failure or refusal to perform the duties of the Participant’s position for which they are employed if such failure to perform is not
cured by the Participant within thirty (30) days after notice. 

 (g) “Change of Control” means, and shall be deemed to have occurred upon,
one or more of the following events: 
 (i) any “person” or “group” within the meaning of those terms as
used in Sections 13(d) and 14(d)(2) of the Exchange Act, other than PBF Energy Inc. or any of its controlled Affiliates, is or becomes the beneficial owner, by way of merger, consolidation, recapitalization, reorganization, or otherwise, of 50% or
more of the voting power of the equity securities of the General Partner or the Partnership; 
 (ii) the limited partners of
the Partnership approve, in one transaction or a series of transactions, a plan of complete liquidation of the Partnership; 

(iii) the sale or other disposition by either the General Partner or the Partnership of all or substantially all of its assets
in one or more transactions to any Person other than PBF Energy Inc. or any of its controlled Affiliates; 
 (iv) (A) the
General Partner or an Affiliate of the General Partner ceases to be the general partner of the Partnership or (B) the general partner of the Partnership ceases to be PBF Energy Inc. or one of its controlled Affiliates; 

(v) a “Change in Control” as defined in the PBF Energy Inc. 2012 Equity Incentive Plan, as such plan may be amended,
supplemented, restated or succeeded; or 
 (vi) any other event specified as a “Change of Control” in an applicable
Award Agreement. 
 Notwithstanding the above, with respect to payment or delivery of any Award or portion of an Award that constitutes nonqualified
deferred compensation under Section 409A, a “Change of Control” shall not occur unless that Change of Control also constitutes a “change in the ownership of a corporation,” a “change in the effective control of a
corporation,” or a “change in the ownership of a substantial portion of a corporation’s assets,” in each case, within the meaning of Treasury Regulation Section 1.409A-3(i)(5) promulgated under Section 409A, as applied
to non-corporate entities. 
 (h) “Code” means the Internal Revenue Code of 1986, as amended from time to time. 

(i) “Committee” means the Board or such other committee as may be appointed by the Board to administer
the Plan, which alternative committee may be the board of directors or managers of any Affiliate or a committee thereof, or such other persons as necessary to comply with applicable legal requirements or listing standards. 

(j) “Director” means a member of the Board or the board of directors of an Affiliate of the General
Partner who is not an Employee (other than in that individual’s capacity as a Director). 

  
 2 

 (k) “Distribution Equivalent Right” or
“DER” means a contingent right, granted alone or in tandem with a specific Award (other than a Restricted Unit or Unit Award), to receive with respect to each Unit subject to the Award cash, Units and/or Phantom Units, as
determined by the Committee in its sole discretion, equal in value to the distributions made by the Partnership with respect to a Unit as provided in the Award Agreement. 

(l) “Effective Date” has the meaning set forth in Section 9. 

(m) “Employee” means an employee of any of the Partnership Entities. 

(n) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(o) “Fair Market Value” means, with respect to a Unit, on any relevant date, the closing sales price of
a Unit on the principal national securities exchange or other market in which trading in Units occurs, on the last market trading day prior to the applicable day (or, if there is no trading in the Units on such date, on the next preceding day on
which there was trading) as reported in The Wall Street Journal (or other reporting service approved by the Committee). If Units are not traded on a national securities exchange or other market at the time a determination of Fair Market Value is
required to be made hereunder, the determination of Fair Market Value shall be made by the Committee in good faith using a “reasonable application of a reasonable valuation method” within the meaning of Section 409A (specifically,
Treasury Regulation Section 1.409A-l(b)(5)(iv)(B)). 
 (p) “General Partner” has the meaning set
forth in Section 1. 
 (q) “Good Reason” means, with respect to any Participant, “Good Reason” as defined
under any employment agreement or agreement for services entered into with any of the Partnership Entities that is in effect on the date of the Participant’s separation from service, or, if the Participant does not have an employment agreement
or other service-related agreement with any of the Partnership Entities, or if such term is not defined therein, then Good Reason shall exist in the event of, without the Participant’s consent: (i) an adverse, material and sustained
diminution of the Participant’s duties, (ii) any of the Partnership Entities requiring a change in the location for performance of Participant’s employment responsibilities hereunder to a location more than 50 miles from the
Participant’s current employment location (not including ordinary travel during the regular course of employment), or (iii) the failure of any of the Partnership Entities to pay or cause to be paid the Participant’s base salary or
other compensation or fees when due; provided, that prior to the Participant’s termination of employment or other separation from service for Good Reason, the Participant must give written notice to the Partnership Entity which employs him or
to which he renders services) of any such event that constitutes Good Reason within twenty (20) days of the occurrence of such event and such event must remain uncorrected for thirty (30) days following receipt of such written notice; and
provided further that any termination due to Good Reason must occur no later than sixty (60) days after the occurrence of the event giving rise to Good Reason. 

(r) “Option” means an option to purchase Units granted under the Plan. 

(s) “Other Unit Based Award” means an Award granted to an Employee, Director, or Consultant pursuant to Section 6(e).

  
 3 

 (t) “Participant” means an Employee, Director or other
service provider granted an Award under the Plan and any authorized transferee of such individual. 
 (u)
“Partnership” has the meaning set forth in Section 1. 
 (v) “Partnership Entities” has the
meaning set forth in Section 1. 
 (w) “Partnership Agreement” means the Agreement of Limited
Partnership of the Partnership, as it may be amended and restated from time to time. 
 (x)
“Performance Award” means a right granted to an Employee, Director or other service provider pursuant to Section 6 to receive an Award based upon performance criteria specified by the Committee. 

(y) “Person” means an individual, corporation, limited liability company, partnership, joint venture,
trust, unincorporated organization, association, governmental agency or political subdivision thereof, or other entity.  

(z) “Phantom Unit” means a notional Unit granted under the Plan which to the extent then vested and
outstanding entitles the Participant to receive a Unit or an amount of cash equal to the Fair Market Value of a Unit (or a combination of the foregoing), subject to terms and conditions as determined by the Committee in its sole discretion.

 (aa) “Plan” has the meaning set forth in Section 1. 

(bb) “Qualified Member” means a member of the Committee who is a “nonemployee director” within the meaning
of paragraph (b)(3) of Rule 16b-3. 
 (cc) “Restricted Period” means the period established by the
Committee with respect to an Award during which the Award remains subject to vesting or forfeiture (as applicable) and is either not exercisable by or payable to the Participant, as the case may be. 

(dd) “Restricted Unit” means a Unit granted under the Plan that is subject to a Restricted Period. 

(ee) “Rule 16b-3” means Rule 16b-3 promulgated by the SEC under the Exchange Act or any successor rule
or regulation thereto as in effect from time to time. 
 (ff) “SEC” means the Securities and Exchange
Commission, or any successor thereto. 
 (gg) “Section 409A” means Section 409A of the Code, as
amended, and the regulations, rulings, notices or other guidance promulgated thereunder. 
 (hh) “Substitute
Award” means an award granted pursuant to Section 6(g) of the Plan. 
 (ii) “Unit Distribution
Right” or “UDR” means a distribution made by the Partnership with respect to a Restricted Unit. 
 (jj)
“Unit” means a common unit of the Partnership. 

  
 4 

 (kk) “Unit Appreciation Right” means a contingent right
granted under the Plan that entitles the holder to receive, in cash or Units (or a combination of the foregoing), as determined by the Committee in its sole discretion, an amount equal to the excess of the Fair Market Value of a Unit on the exercise
date of the Unit Appreciation Right (or another specified date) over the exercise price of the Unit Appreciation Right. 

(ll) “Unit Award” means a grant of a Unit that is not subject to a Restricted Period. 

Section 3. Administration. 

(a) Authority of the Committee. The Plan shall be administered by the Committee. Subject to the terms of the Plan and applicable law,
and in addition to other express powers and authorizations conferred on the Committee by the Plan, the Committee shall have full power and authority to: (i) designate Participants; (ii) determine the type or types of Awards to be granted
to a Participant; (iii) determine the number of Units to be covered by Awards; (iv) determine the terms and conditions of any Award, consistent with the terms of the Plan, which terms may include any provision regarding the acceleration of
vesting or waiver of forfeiture restrictions or any other condition or limitation regarding an Award, based on such factors as the Committee shall determine, in its sole discretion; (v) determine whether, to what extent, and under what
circumstances Awards may be vested, settled, exercised, canceled, or forfeited; (vi) interpret and administer the Plan and any instrument or agreement relating to an Award made under the Plan; (vii) establish, amend, suspend, or waive such
rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan; (viii) waive, in whole or part, any forfeiture or vesting conditions of any Award; and (ix) make any other determination
and take any other action that the Committee deems necessary or desirable for the administration of the Plan. The Committee may correct any defect or supply any omission or reconcile any inconsistency in the Plan or an Award Agreement in such manner
and to such extent as the Committee deems necessary or appropriate. The determinations of the Committee on the matters referred to in this Section 3(a) shall be final and conclusive. 

(b) Manner and Exercise of Committee Authority. At any time that a member of the Committee is not a Qualified Member, any action of the
Committee relating to an Award granted or to be granted to a Participant who is then subject to Section 16 of the Exchange Act in respect of the Partnership may be taken either (i) by a subcommittee, designated by the Committee, composed
solely of two or more Qualified Members, (ii) by the Committee but with each such member who is not a Qualified Member abstaining or recusing himself or herself from such action; provided, however, that upon such abstention or
recusal the Committee remains composed solely of two or more Qualified Members, or (iii) if the Committee is the Board, by the full Board. Such action, authorized by such a subcommittee, by the Committee upon the abstention or recusal of such
non-Qualified Member(s), or by the full Board, as applicable, shall be the action of the Committee for all purposes of the Plan. Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other decisions
under (or with respect to) the Plan or any Award shall be within the sole discretion of the Committee, may be made at any time, and shall be final, conclusive, and binding upon all Persons, including any of the Partnership Entities, any Participant,
and any beneficiary of a Participant. The express grant of any specific power to the Committee, and the taking of any action by the Committee, shall not be construed as limiting the power or authority of the Committee. Subject to the Plan and any

  
 5 

 
applicable law, the Committee, in its sole discretion, may delegate any or all of its powers and duties under the Plan, including the power to grant Awards under the Plan, to the Chief Executive
Officer of the General Partner, subject to such limitations on such delegated powers and duties as the Committee may impose, if any, and provided that the Committee may not delegate its duties where such delegation would violate state corporate law,
or with respect to making Awards to, or otherwise with respect to Awards granted to, Participants who are subject to Section 16(b) of the Exchange Act. Upon any such delegation, all references in the Plan to the “Committee,” other
than in Section 7, shall be deemed to include the Chief Executive Officer. Any such delegation shall not limit the Chief Executive Officer’s right to receive Awards under the Plan; provided, however, the Chief Executive
Officer may not grant Awards to himself, a Director, or any executive officer of the General Partner or an Affiliate, or take any action with respect to any Award previously granted to himself, an individual who is an executive officer, or a
Director. Under no circumstances shall any such delegation result in the loss of an exemption under paragraph (d)(1) of Rule 16b-3 for Awards granted to Participants subject to Section 16 of the Exchange Act in respect of the Partnership. 

(c) Limitation of Liability; Outside Advisors. The Committee may employ counsel, consultants, accountants, appraisers, brokers or other
persons at the expense of the Partnership. The Committee and each member thereof shall be entitled to, in good faith, rely or act upon any report or other information furnished to him or her by any officer or employee of a Partnership Entity, or the
General Partner’s or the Partnership’s legal counsel, independent auditors, consultants, or any other agents assisting in the administration of the Plan. Members of the Committee and any officer or employee of the General Partner, the
Partnership, or any of their Affiliates acting at the direction or on behalf of the Committee shall not be personally liable for any action or determination taken or made in good faith with respect to this Plan and shall, to the fullest extent
permitted by law, the Partnership Agreement and any indemnification agreement applicable to such Person, be indemnified and held harmless by the General Partner with respect to any such action or determination. 

(d) Exemptions from Section 16(b) Liability. It is the intent of the General Partner that the grant of any Awards to, or other
transaction by, a Participant who is subject to Section 16 of the Exchange Act shall be exempt from Section 16(b) of the Exchange Act pursuant to Rule 16b-3 or another applicable exemption (except for transactions acknowledged by the
Participant in writing to be non-exempt). Accordingly, if any provision of the Plan or any Award Agreement does not comply with the requirements of Rule 16b-3 or such other exemption as then applicable to any such transaction, such provision shall
be construed or deemed amended to the extent necessary to conform to the applicable requirements of Rule 16b-3 so that such Participant shall avoid liability under Section 16(b) of the Exchange Act. 

Section 4. Units. 

(a) Limits on Units Deliverable. Subject to adjustment as provided in Section 4(d) and Section 7, the number of Units that
may be delivered with respect to Awards under the Plan is [                    ]. Units withheld from an Award or surrendered by a Participant to
satisfy tax withholding obligations of any of the Partnership Entities (including the withholding of Units with respect to Restricted Units) or to satisfy the payment of any exercise price with respect to the Award shall not be considered to be
Units delivered under the Plan for this purpose. If any 

  
 6 

 
Award is forfeited, cancelled, exercised, settled in cash, or otherwise terminates or expires without the actual delivery of Units pursuant to such Award (for the avoidance of doubt, the grant of
Restricted Units is not a delivery of Units for this purpose, unless and until such Restricted Units vest and any restrictions placed on them under the Plan or applicable Award Agreement lapse), the Units subject to such Award shall again be
available for Awards under the Plan (including Units not delivered in connection with the exercise of an Option or Unit Appreciation Right). There shall not be any limitation on the number of Awards that may be granted and paid in cash. 

(b) Units Available Under the Plan. The following additional parameters shall apply: 

(i) Awards that are valued by reference to Units that may be settled in cash will reduce the number of Units available for
issuance pursuant to the Plan, provided that to the extent the Award is ultimately settled or paid in cash, Units subject to such Award will not be considered to have been issued and will not be applied against the maximum number of Units available
under the Plan. 
 (ii) If an Award may be settled in Units or cash, such Units shall be deemed issued only when and
to the extent that settlement or payment is actually made in Units. To the extent an Award is settled or paid in cash, and not in Units, any Units previously reserved for issuance or transfer pursuant to such Award will again be deemed available for
issuance or transfer under the Plan, and the maximum number of Units that may be issued or transferred under the Plan shall be reduced only by the number of Units actually issued and transferred to the Participant. 

(iii) Notwithstanding the foregoing, the full number of Units subject to an Option or Unit Appreciation Right granted that are
settled by the issuance of Units shall be counted against the Units authorized for issuance under this Plan, regardless of the number of Units actually issued upon the settlement of such Option or Unit Appreciation Right. 

(iv) Any Units repurchased by the Partnership or the Partnership on the open market using the proceeds from the exercise of an
Award shall not increase the number of Units available for the future grant of Awards. 
 (c) Sources of Units Deliverable Under
Awards. Any Units that may be delivered pursuant to an Award shall consist, in whole or in part, of authorized but unissued Units, authorized and issued Units held in the Partnership’s treasury, Units acquired from any Affiliate, the
Partnership or any other Person, in the open market or otherwise, and any other Units available for any reason for purposes of the Plan, or any combination of the foregoing, as determined by the Committee in its discretion. 

(d) Anti-Dilution Adjustments. Notwithstanding anything contained in Section 7, with respect to any “equity
restructuring” event that could result in an additional compensation expense to the General Partner or the Partnership pursuant to the provisions of FASB Accounting Standards Codification, Topic 718 if adjustments to Awards with respect to such
event were discretionary, the Committee shall equitably adjust the number and type of Units covered by 

  
 7 

 
each outstanding Award and the terms and conditions, including the exercise price and performance criteria (if any), of such Award to equitably reflect such restructuring event and shall adjust
the number and type of Units (or other securities or property) with respect to which Awards may be granted after such event. With respect to any other similar event that would not result in an accounting charge under FASB Accounting Standards
Codification, Topic 718 if the adjustment to Awards with respect to such event were subject to discretionary action, the Committee shall have complete discretion to adjust Awards in such manner as it deems appropriate with respect to such other
event. In the event the Committee makes any adjustment pursuant to the foregoing provisions of this Section 4(d), the Committee shall make a corresponding and proportionate adjustment with respect to the maximum number of Units that may be
delivered with respect to Awards under the Plan as provided in Section 4(a) and the kind of Units or other securities available for grant under the Plan. 

(e) Additional Issuances. Except as hereinbefore expressly provided, the issuance by the General Partner or the Partnership of Units
for cash, property, labor or services, upon direct sale, or upon the conversion of Units or obligations of the General Partner or the Partnership convertible into such Units, and in any case whether or not for fair value, shall not affect, and no
adjustment by reason thereof shall be made with respect to, the number of Units subject to Awards theretofore granted pursuant to the Plan. 

Section 5. Eligibility. Any Employee, Director or other service provider shall be eligible to be designated a Participant
and receive an Award under the Plan. If the Units issuable pursuant to an Award are intended to be registered with the SEC on Form S-8, then only Employees, Directors or other service provider of the Partnership or a parent or subsidiary of the
Partnership (within the meaning of General Instruction A.1(a) to Form S-8) will be eligible to receive such an Award. 

Section 6. Awards. 

(a) General. Awards may be granted on the terms and conditions set forth in this Section 6. In addition, the Committee may impose
on any Award or the exercise thereof, at the date of grant or thereafter (subject to Section 7(a)), such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee shall determine, including terms
requiring forfeiture of Awards in the event of termination of employment by the Participant, or termination of the Participant’s service relationship with the General Partner, the Partnership, or their Affiliates, and terms permitting a
Participant to make elections relating to his or her Award. The Committee shall retain full power and discretion to accelerate, waive or modify, at any time, any term or condition of an Award that is not mandatory under the Plan. 

(b) Options and Unit Appreciation Rights. The Committee shall have the authority to determine to whom Options and/or Unit Appreciation
Rights shall be granted, the number of Units to be covered by each Option or Unit Appreciation Right, the exercise price therefor, the Restricted Period and other conditions and limitations applicable to the exercise of the Option or Unit
Appreciation Right, including the following terms and conditions and such additional terms and conditions, as the Committee shall determine, that are not inconsistent with the provisions of the Plan. Options which are intended to comply with
Treasury Regulation Section 1.409A-1(b)(5)(i)(A) and Unit Appreciation Rights which are intended to comply with Treasury 

  
 8 

 
Regulation Section 1.409A-1(b)(5)(i)(B) or, in each case, any successor regulation, may be granted only if the requirements of Treasury Regulation Section 1.409A-1(b)(5)(iii), or any
successor regulation, are satisfied. Options and Unit Appreciation Rights that are otherwise exempt from or compliant with Section 409A may be granted to any eligible Employee, Director or other service provider. 

(i) Exercise Price. The exercise price per Unit purchasable under an Option or subject to a Unit Appreciation Right
shall be determined by the Committee at the time the Option or Unit Appreciation Right is granted but may not be less than the Fair Market Value of a Unit as of the date of grant of the Option or Unit Appreciation Right. 

(ii) Time and Method of Exercise. The Committee shall determine the exercise terms and any applicable Restricted Period
with respect to an Option or Unit Appreciation Right, which may include provisions for accelerated vesting (if any) upon the achievement of specified performance goals and/or other events, and the method or methods by which payment of the exercise
price with respect to an Option or Unit Appreciation Right may be made or deemed to have been made, which may include cash, check acceptable to the Partnership, withholding Units having a Fair Market Value on the exercise date equal to the relevant
exercise price from the Award, a “cashless” exercise or a “net exercise” through procedures approved by the Partnership, or any combination of the foregoing methods. 

(iii) Forfeitures. Except as otherwise provided in the terms of the Award Agreement, upon termination of a
Participant’s employment with or service to the Partnership, General Partner and any of their Affiliates or membership on the Board or the board of directors of an Affiliate, whichever is applicable, for any reason during any applicable
Restricted Period, all unvested Options shall be forfeited by the Participant. The Committee may, in its sole discretion, waive in whole or in part such forfeiture with respect to a Participant’s Options. 

(iv) Term of Options and Unit Appreciation Rights. The term of each Option and Unit Appreciation Right shall be stated
in the Award Agreement, provided that the term shall be no more than 10 years from the date of grant thereof. 
 (c) Restricted Units and
Phantom Units. The Committee shall have the authority to determine the Employees, Directors and other service providers to whom Restricted Units or Phantom Units shall be granted, the number of Restricted Units or Phantom Units to be granted to
each such Participant, the Restricted Period, the conditions under which the Restricted Units or Phantom Units may become vested, delivered or forfeited, and such other terms and conditions as the Committee may establish with respect to such Awards.

 (i) UDRs. To the extent provided by the Committee, in its discretion, a grant of Restricted Units may provide that
the distributions made by the Partnership with respect to the Restricted Units shall be subject to the same forfeiture and other restrictions as the Restricted Unit and, if restricted, such distributions shall be held, without interest, until the
Restricted Unit vests or is forfeited with the UDR being paid or forfeited at the same time, as the case may be. In addition, the Committee may provide that such 

  
 9 

 
distributions be used to acquire additional Restricted Units for the Participant. Such additional Restricted Units may be subject to such vesting and other terms as the Committee may prescribe.
Absent such a restriction on the UDRs in the Award Agreement, UDRs shall be paid to the holder of the Restricted Unit without restriction at the same time as cash distributions are paid by the Partnership to its unitholders. 

(ii) Forfeitures. Except as otherwise provided in the terms of the applicable Award Agreement, upon termination of a
Participant’s employment with or service to the General Partner, the Partnership and any of their Affiliates or membership on the Board or the board of directors of an Affiliate, whichever is applicable, for any reason during the applicable
Restricted Period, all outstanding, unvested Restricted Units and Phantom Units awarded to the Participant shall be automatically forfeited on such termination. The Committee may, in its discretion, waive in whole or in part such forfeiture with
respect to a Participant’s Restricted Units and/or Phantom Units. 
 (iii) Lapse of Vesting Restrictions. 

(A) Phantom Units. Except as otherwise provided in the terms of the applicable Award Agreement, as soon as practicable
but in no case later than the 70th calendar day following the vesting of each Phantom Unit or such other date or dates provided for in the Award Agreement, and subject to the provisions of
Sections 8(b) and 8(l), the Participant shall be entitled to settlement of such Phantom Unit and shall receive one Unit (or if determined by the Committee in its discretion, an amount in cash equal to the Fair Market Value of a Unit as calculated on
the last day of the Restricted Period, or a combination of Units and cash), as determined by the Committee in its discretion. 

(B) Restricted Units. Upon the vesting of each Restricted Unit, subject to the provisions of Section 8(b), the
Participant shall be entitled to have the restrictions removed from his or her Award so that the Participant then holds an unrestricted Unit. 

(d) Unit Awards. The Committee shall have the authority to grant a Unit Award under the Plan to any Employee, Director or other service
provider in a number determined by the Committee in its discretion, as a bonus or additional compensation or in lieu of cash compensation the individual is otherwise entitled to receive, in such amounts as the Committee determines to be appropriate.

 (e) Other Unit Based Awards. The Committee is authorized, subject to limitations under applicable law, to grant to Participants
such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to Units, as deemed by the Committee to be consistent with the purposes of this Plan, including convertible or
exchangeable debt securities, other rights convertible or exchangeable into Units, purchase rights for Units, Awards with value and payment contingent upon performance of the Partnership or any other factors designated by the Committee, and Awards
valued by reference to the book value of Units or the value of securities of or the performance of specified Affiliates of the General Partner or the Partnership. The Committee shall determine the terms and

  
 10 

 
conditions of such Awards. Units delivered pursuant to an Award in the nature of a purchase right granted under this Section 6(e) shall be purchased for such consideration, paid for at such
times, by such methods, and in such forms, including cash, Units, other Awards, or other property, as the Committee shall determine. Cash awards, as an element of or supplement to, or independent of any other Award under this Plan, may also be
granted pursuant to this Section 6(e). 
 (f) DERs. To the extent provided by the Committee, in its discretion, an Award (other
than a Restricted Unit or Unit Award) may include a tandem DER grant, which may provide that such DERs shall be paid directly to the Participant, be reinvested into additional Awards, be credited to a bookkeeping account (with or without interest in
the discretion of the Committee) subject to the vesting restrictions provided in the Award Agreement, or be subject to such other provisions or restrictions as determined by the Committee in its discretion. Absent a contrary provision in the Award
Agreement, DERs shall be paid to the Participant without restriction at the same time and in the same form as distributions are paid by the Partnership to its unitholders. 

(g) Substitute Awards. Awards may be granted under the Plan in substitution for similar awards held by individuals who become
Employees, Directors or other service providers as a result of a merger, consolidation, or acquisition by the Partnership or an Affiliate of another entity or the assets of another entity. Such Substitute Awards that are Options or Unit Appreciation
Rights may have exercise prices less than the Fair Market Value of a Unit on the date of the substitution if such substitution complies with Section 409A and other applicable laws and exchange rules. 

(h) Performance Awards. The right of a Participant to receive a grant, and the right of a Participant to exercise or receive a grant or
settlement of any Award, and the timing thereof, may be subject to such performance conditions as may be specified by the Committee. The Committee may use such business criteria and other measures of performance as it may deem appropriate in
establishing any performance conditions and may exercise its discretion to reduce or increase the amounts payable under any Award subject to performance conditions. 

(i) Performance Goals Generally. The performance goals for such Performance Awards shall consist of one or more business
criteria or individual performance criteria and a targeted level or levels of performance with respect to each of such criteria, as specified by the Committee consistent with this Section 6(h). The Committee may determine that such Performance
Awards shall be granted, exercised, and/or settled upon achievement of any one performance goal or that two or more of the performance goals must be achieved as a condition to the grant, exercise, and/or settlement of such Performance Awards. The
Committee shall establish any such performance conditions and goals based on one or more business criteria for the General Partner and/or the Partnership, on a consolidated basis, and/or for specified Affiliates or business or geographical units of
the Partnership (and such performance conditions or goals may be applied in total or on a per Unit, per barrel, or percentage basis, if applicable), all as determined by the Committee in its discretion, which may include (but are not limited to) one
or more of the following: (A) earnings per Unit, (B) revenues, (C) cash flow, (D) cash flow from operations, (E) cash flow return, (F) return on assets or on net assets, (G) return on investment, (H) return on
capital, (I) return on equity, 

  
 11 

 
(J) economic value added, (K) operating margin, contribution margin, gross margin, or other margin capture, (L) net income, (M) pretax earnings, (N) pretax earnings before
interest or before interest, depreciation and amortization, (O) pretax operating earnings after interest expense and before incentives, service fees, and extraordinary or special items, (P) total unitholder return, (Q) debt reduction,
(R) increase in market share, (S) change in the Fair Market Value of the Units, (T) operating income (before or after tax), (U) expenses, (V) assets or capital employed, (W) working capital, (X) operating capacity
utilized, (Y) production or sales volumes, (Z) cost of processing, (AA) completion or acquisition of a new plant; (BB) environmental and/or safety metrics, (CC) cash distributions or (DD) any of the above goals determined on an absolute or
relative basis or as compared to the performance of a published or special index deemed applicable by the Committee including, but not limited to, the Standard & Poor’s 500 Stock Index or a group of comparable companies. Performance
goals may differ for Performance Awards granted to any one Participant or to different Participants. 
 (ii) Performance
Periods. Achievement of performance goals in respect of such Performance Awards shall be measured over a performance period of up to ten years, as specified by the Committee. Performance goals shall be established by the Committee not later than
90 days after the beginning of any performance period applicable to such Performance Awards. 
 (iii) Settlement. At
the end of each performance period, the Committee shall determine the amount, if any, of the potential Performance Award otherwise payable to each Participant. The amount determined by the Committee, if any, shall be paid to the Participant no later
than March 15 of the year following the year that included the last day of the performance period. Settlement of such Performance Awards shall be in cash, Units, other Awards, or other property, in the discretion of the Committee. The Committee
may, in its discretion, reduce or increase the amount of a settlement otherwise to be made in connection with such Performance Awards. The Committee shall specify the circumstances in which such Performance Awards shall be paid or forfeited in the
event of termination of employment by the Participant prior to the end of a performance period or settlement of Performance Awards. 
 (i)
Certain Provisions Applicable to Awards. 
 (i) Stand-Alone, Additional, Tandem, and Substitute Awards. Awards
may, in the discretion of the Committee, be granted either alone or in addition to, in tandem with, or in substitution for any other Award granted under the Plan or any award granted under any other plan of any of the Partnership Entities. Awards
granted in addition to, in substitution for, or in tandem with other Awards or awards granted under any other plan of any of the Partnership Entities may be granted either at the same time as or at a different time from the grant of such other
Awards or awards. If an Award is granted in substitution or exchange for another Award, the Committee shall require the surrender of such other Award in consideration for the grant of the new Award. Awards under the Plan may be granted in lieu of
cash compensation, including in lieu of cash amounts payable under other plans of the General Partner, the Partnership, or any Affiliate, in which the value of Units subject to the Award is equivalent in value to the cash

  
 12 

 
compensation, or in which the exercise price, grant price, or purchase price of the Award in the nature of a right that may be exercised is equal to the Fair Market Value of the underlying Units
minus the value of the cash compensation surrendered. Awards granted pursuant to the preceding sentence shall be designed, awarded, and settled in a manner that does not result in additional taxes under Section 409A. 

(ii) Limits on Transfer of Awards. 

(A) Except as provided in paragraph (B) below, each Option and Unit Appreciation Right shall be exercisable only by the
Participant during the Participant’s lifetime, or by the Person to whom the Participant’s rights shall pass by will or the laws of descent and distribution and no Award and no right under any such Award may be assigned, alienated, pledged,
attached, sold or otherwise transferred or encumbered by a Participant other than by will or the laws of descent and distribution and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and
unenforceable against any of the Partnership Entities. 
 (B) The Committee may provide in an Award Agreement or in its
discretion that an Award may, on such terms and conditions as the Committee may from time to time establish, be transferred by a Participant without consideration to any “family member” of the Participant, as defined in the instructions to
use of the Form S-8 Registration Statement under the Securities Act, as applicable, or any other transferee specifically approved by the Committee after taking into account any state, federal, local or foreign tax and securities laws applicable to
transferable Awards. In addition, vested Units may be transferred to the extent permitted by the Partnership Agreement and not otherwise prohibited by the Award Agreement or any other agreement or policy restricting the transfer of such Units. 

(iii) Term of Awards. The term of each Award shall be for such period as may be determined by the Committee but may not
exceed ten (10) years. 
 (iv) Form and Timing of Payment under Awards; Deferrals. Subject to the terms of the
Plan and any applicable Award agreement, payments to be made by any of the Partnership Entities upon the exercise of an Option or other Award or upon settlement of an Award may be made in such forms as the Committee shall determine, including cash,
Units, other Awards, or other property, and may be made in a single payment or transfer, in installments, or on a deferred basis; provided, however, that any such deferred payment will be set forth in the agreement evidencing such
Award and/or otherwise made in a manner that will not result in additional taxes under Section 409A. Except as otherwise provided herein, the settlement of any Award may be accelerated, and cash paid in lieu of Units in connection with such
settlement, in the discretion of the Committee. Installment or deferred payments may be required by the Committee (subject to Section 7(a) of the Plan, including the consent provisions thereof in the case of any deferral of an outstanding Award
not provided for in the original Award Agreement) or permitted at the election of the Participant on terms and conditions established by the 

  
 13 

 
Committee and in compliance with Section 409A. Payments may include provisions for the payment or crediting of reasonable interest on installment or deferred payments or the grant or
crediting of DERs or other amounts in respect of installment or deferred payments denominated in Units. 
 (v) Issuance of
Units. The Units or other securities of the Partnership delivered pursuant to an Award may be evidenced in any manner deemed appropriate by the Committee in its sole discretion, including, but not limited to, in the form of a certificate issued
in the name of the Participant or by book entry, electronic or otherwise, and shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or under the rules, regulations, and other
requirements of the SEC, any stock exchange upon which such Units or other securities are then listed, and any applicable federal or state laws. The Committee may cause a legend or legends to be inscribed on any such certificates to make appropriate
reference to such restrictions. 
 (vi) Consideration for Grants. Awards may be granted for such consideration,
including services, as the Committee shall determine. 
 (vii) Exemptions from Section 16(b) Liability. It is the
intent of the General Partner that the grant of any Awards to, or other transaction by, a Participant who is subject to Section 16 of the Exchange Act shall be exempt from such section pursuant to an applicable exemption (except for
transactions acknowledged in writing to be non-exempt by such Participant). Accordingly, if any provision of this Plan or any Award Agreement does not comply with the requirements of Rule 16b-3 as then applicable to any such transaction, such
provision shall be construed or deemed amended to the extent necessary to conform to the applicable requirements of Rule 16b-3 so that such Participant shall avoid liability under Section 16(b) of the Exchange Act. 

(viii) Delivery of Units or other Securities and Payment by Participant of Consideration. Notwithstanding anything in
the Plan or any Award Agreement to the contrary, delivery of Units pursuant to the exercise, vesting, and/or settlement of an Award may be deferred for any period during which, in the good faith determination of the Committee, the General Partner is
not reasonably able to obtain Units to deliver pursuant to such Award without violating applicable law or the applicable rules or regulations of any governmental agency or authority or securities exchange. No Units or other securities shall be
delivered pursuant to any Award until payment in full of any amount required to be paid pursuant to the Plan or the applicable Award Agreement (including any exercise price or tax withholding) is received by the General Partner. 

(ix) Additional Agreements. Each Employee, Director or other service provider to whom an Award is granted under this
Plan may be required to agree in writing, as a condition to the grant of such Award or otherwise, to subject an Award that is exercised or settled following such Person’s termination of services to, or employment with, the General Partner, the
Partnership, or any of their Affiliates to a general release of claims and/or a noncompetition agreement in favor of the General Partner, the Partnership, and their Affiliates, with the terms and conditions of such agreement(s) to be determined in
good faith by the Committee. 

  
 14 

 (x) Termination of Employment. Except as provided herein, the treatment of
an Award upon a termination of employment or any other service relationship by and between a Participant and any of the Partnership Entities shall be specified in the Award Agreement controlling such Award. 

(xi) Clawback. Any Award under the Plan may as determined by the Committee in its sole discretion if it deems advisable
be subject to a clawback or recovery provision requiring a portion of the payments and benefits provided under an Agreement or the sale of the Units granted thereunder to be subject to a clawback or other recovery to the extent necessary to comply
with applicable law including the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 or any SEC rule. 

Section 7. Amendment and Termination. Except to the extent prohibited by applicable law: 

(a) Amendments to the Plan and Awards. Except as required by applicable law or the rules of the principal securities exchange, if any,
on which the Units are traded, the Board or the Committee may amend, alter, suspend, discontinue, or terminate the Plan in any manner, including increasing the number of Units available for Awards under the Plan, without the consent of any partner,
Participant, other holder or beneficiary of an Award, or any other Person. Notwithstanding the foregoing, the Committee may waive any conditions or rights under, amend any terms of, or alter any Award theretofore granted, provided that no change,
other than pursuant to Section 7(b), 7(c), 7(d), 7(e), or 7(g) below, in any Award shall materially reduce the rights or benefits of a Participant with respect to an Award without the consent of such Participant. 

(b) Subdivision or Consolidation of Units. The terms of an Award and the number of Units authorized pursuant to Section 4 for
issuance under the Plan shall be subject to adjustment from time to time, in accordance with the following provisions: 
 (i)
If at any time, or from time to time, the Partnership shall subdivide as a whole (by reclassification, by a Unit split, by the issuance of a distribution on Units payable in Units, or otherwise) the number of Units then outstanding into a greater
number of Units, or in the event the Partnership distributes an extraordinary cash dividend, then, as appropriate, (A) the maximum number of Units available for the Plan as provided in Section 4 shall be increased proportionately, and the
kind of other securities available for the Plan shall be appropriately adjusted, (B) the number of Units (or other kind of securities) that may be acquired under any then outstanding Award shall be increased proportionately, and (C) the
price (including the exercise price) for each Unit (or other kind of securities) subject to then outstanding Awards shall be reduced proportionately, all without changing the aggregate purchase price or value as to which outstanding Awards remain
exercisable or subject to restrictions. 

  
 15 

 (ii) If at any time, or from time to time, the Partnership shall consolidate as a
whole (by reclassification, by reverse Unit split, or otherwise) the number of Units then outstanding into a lesser number of Units, (A) the maximum number of Units available for the Plan as provided in Section 4 shall be decreased
proportionately, and the kind of other securities available for the Plan shall be appropriately adjusted, (B) the number of Units (or other kind of securities) that may be acquired under any then outstanding Award shall be decreased
proportionately, and (C) the price (including the exercise price) for each Unit (or other kind of securities) subject to then outstanding Awards shall be increased proportionately, without changing the aggregate purchase price or value as to
which outstanding Awards remain exercisable or subject to restrictions. 
 (iii) Whenever the number of Units subject to
outstanding Awards and the price for each Unit subject to outstanding Awards are required to be adjusted as provided in this Section 7(b), the Committee shall promptly prepare a notice setting forth, in reasonable detail, the event requiring
adjustment, the amount of the adjustment, the method by which such adjustment was calculated, and the change in price and the number of Units, other securities, cash, or property purchasable subject to each Award after giving effect to the
adjustments. The Committee shall promptly provide each affected Participant with such notice. 
 (iv) Adjustments under
Sections 7(b)(i) and (ii) shall be made by the Committee, and its determination as to what adjustments shall be made and the extent thereof shall be final, binding, and conclusive, and, in the discretion of the Committee, an adjustment may be
in accordance with Section 409A, to the extent applicable, so as not to cause a modification or deemed new grant of award. No fractional interest shall be issued under the Plan on account of any such adjustments. 

(c) Recapitalizations. If the Partnership recapitalizes, reclassifies its equity securities, or otherwise changes its capital structure
(a “recapitalization”) without a Change of Control, the number and class of Units covered by an Award theretofore granted shall be adjusted so that such Award shall thereafter cover the number and class of Units and
securities to which the holder would have been entitled pursuant to the terms of the recapitalization if, immediately prior to the recapitalization, the holder had been the holder of record of the number of Units then covered by such Award, and the
Unit limitations provided in Section 4 shall be adjusted in a manner consistent with the recapitalization. 
 (d) Additional
Issuances. Except as expressly provided herein, the issuance by the Partnership of units of any class or securities convertible into units of any class, for cash, property, labor or services, upon direct sale, upon the exercise of rights or
warrants to subscribe therefor, or upon conversion of units or obligations of the Partnership convertible into such units or other securities, and in any case whether or not for fair value, shall not affect, and no adjustment by reason thereof shall
be made with respect to, the number of Units subject to Awards theretofore granted or the purchase price per Unit, if applicable. 

  
 16 

 (e) Change of Control 

(i) Discretion of Committee. In the event of a Change in Control after the Effective Date of the Plan, the Committee may
(subject to Section 8(l)), in its sole discretion, either (alone or in combination): (A) cancel such Awards for fair consideration (as determined in the sole discretion of the Committee) which, in the case of Options and Unit Appreciation
Rights shall equal the excess, if any, of the Change in Control Price (as defined in Section 7(f) below) to be paid in the Change in Control transaction to holders of the same number of Units subject to such Options or Unit Appreciation Rights
(or, if no consideration is paid in any such transaction, the Fair Market Value of the Units subject to such Options or Unit Appreciation Rights) over the aggregate exercise price of such Options or Unit Appreciation Rights; (B) provide for the
assumption of such Awards or the issuance of substitute Awards that will substantially preserve the otherwise applicable terms of any affected Awards previously granted hereunder, including any applicable vesting conditions or (C) provide that
for a period of at least 15 days prior to the Change in Control, such Awards shall be exercisable as to all Units subject thereto, and that upon the occurrence of the Change in Control, such Awards shall terminate and be of no further force and
effect. For the avoidance of doubt, pursuant to clause (A) above, the Committee may cancel Options and Unit Appreciation Rights for no consideration if the aggregate Fair Market Value of the Units subject to such Options or Unit Appreciation
Rights is less than or equal to the aggregate exercise price of such Options or exercise price of such Unit Appreciation Rights. 

(ii) Unless otherwise provided for by the Committee in the applicable Award Agreement or otherwise determined at any time by
the Committee in its sole discretion, upon a termination of employment or service of a Participant within twenty four (24) months of the occurrence of a Change in Control that occurs while the Participant was still employed by, or in the
service of, any of the Partnership Entities (A) by any of the Partnership Entities other than for Cause or (B) by the Participant for Good Reason, all of the Participant’s Awards which have not at such time become vested, delivered,
or exercisable, or otherwise remain subject to lapse restrictions, shall immediately become vested, delivered and exercisable or no longer subject to lapse restrictions, as may be applicable. 

(f) Change of Control Price. The “Change of Control Price” shall equal the amount determined in clause (i),
(ii), (iii), (iv), or (v), whichever is applicable, as follows: (i) the per Unit price offered to Unit holders in any merger or consolidation, (ii) the per Unit value of the Units immediately before the Change of Control without regard to
assets sold in the Change of Control and assuming the General Partner or the Partnership, as applicable, has received the consideration paid for the assets in the case of a sale of the assets, (iii) the amount distributed per Unit in a
dissolution transaction, (iv) the price per Unit offered to Unit holders in any tender offer or exchange offer whereby a Change of Control takes place, or (v) if such Change of Control occurs other than pursuant to a transaction described
in clauses (i), (ii), (iii), or (iv) of this Section 7(f), the Fair Market Value per Unit of the Units that may otherwise be obtained with respect to such Awards or to which such Awards track, as determined by the Committee as of the date
determined by the Committee to be the date of cancellation and surrender of such Awards. In the event that the consideration offered to unitholders of the Partnership in any Change of Control transaction consists of anything other than cash, the
Committee shall determine the fair cash equivalent of the portion of the consideration offered which is other than cash. 

  
 17 

 (g) Impact of Corporate Events on Awards Generally. In the event of changes in the
outstanding Units by reason of a recapitalization, reorganization, merger, consolidation, combination, exchange or other relevant change in capitalization occurring after the date of the grant of any Award and not otherwise provided for by this
Section 7, any outstanding Awards and any Award Agreements evidencing such Awards shall be subject to adjustment by the Committee at its discretion, which adjustment may, in the Committee’s discretion, be described in the Award Agreement
and may include, but not be limited to, adjustments as to the number and price of Units or other consideration subject to such Awards, accelerated vesting (in full or in part) of such Awards, conversion of such Awards into awards denominated in the
securities or other interests of any successor Person, or the cash settlement of such Awards in exchange for the cancellation thereof. In the event of any such change in the outstanding Units, the aggregate number of Units available under this Plan
may be appropriately adjusted by the Committee, whose determination shall be conclusive. 
 Section 8. General Provisions.

 (a) No Rights to Award. No Person shall have any claim to be granted any Award under the Plan, and there is no obligation for
uniformity of treatment of Participants. The terms and conditions of Awards need not be the same with respect to each recipient. 
 (b)
Tax Withholding. If the General Partner, the Partnership or any of their Affiliates shall be required to withhold any amounts by reason of any Federal, State, local or foreign tax rules or regulations in respect of any Award, any of the
Partnership Entities shall be entitled to take such action as it deems appropriate in order to ensure compliance with such withholding requirements. Any of the Partnership Entities shall have the right, at its option, to (i) require the
Participant (or the Participant’s permitted transferee under Section 6(i)(ii), as applicable) to pay or provide for payment of the amount of any taxes which any of the Partnership Entities may be required to withhold with respect to such
Award, (ii) deduct or withhold (or cause to be deducted or withheld) from any amount otherwise payable (whether related to the Award or otherwise) to the Participant (or the Participant’s transferee, as applicable and where otherwise
permitted under the Plan) the amount of any taxes which any of the Partnership Entities may be required to withhold with respect to such Award, or (iii) if the Committee determines, to withhold Units with a Fair Market Value of the minimum
amount of any taxes which any of the Partnership Entities may be required to withhold with respect to such Award, or (iv) enter into with the Participant any such other suitable arrangements approved by the Committee. In no event will Units be
withheld at Fair Market Value in excess of the minimum statutory withholding rate. Notwithstanding anything contained herein to the contrary, Fair Market Value for this purpose shall be determined as of the date on which the amount of tax to be
withheld is determined (and the Partnership may cause any fractional Unit to be settled in cash). 
 (c) No Right to Employment or
Services. The grant of an Award shall not be construed as giving a Participant the right to be retained in the employ of any of the Partnership Entities, to continue providing services, or to remain on the Board, as applicable. Furthermore,

  
 18 

 
any of the Partnership Entities may at any time dismiss a Participant from employment or his or her service relationship free from any liability or any claim under the Plan, unless otherwise
expressly provided in the Plan, any Award Agreement or other agreement. 
 (d) Governing Law. The validity, construction, and effect
of the Plan and any rules and regulations relating to the Plan shall be determined in accordance with the laws of the State of Delaware without regard to its conflicts of laws principles. 

(e) Severability. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal, or unenforceable in any
jurisdiction or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable law or, if it cannot be construed
or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, Person or Award, and the remainder of the Plan and any such Award
shall remain in full force and effect. If any of the terms or provisions of the Plan or any Award Agreement conflict with the requirements of Rule 16b-3 (as those terms or provisions are applied to Participants who are subject to Section 16(b)
of the Exchange Act), then those conflicting terms or provisions shall be deemed inoperative to the extent they so conflict with the requirements of Rule 16b-3 (unless the Board or the Committee, as appropriate, has expressly determined that the
Plan or such Award should not comply with Rule 16b-3). 
 (f) Other Laws. The Committee may refuse to issue or transfer any Units or
other consideration under an Award if, in its sole discretion, it determines that the issuance or transfer of such Units or such other consideration might violate any applicable law or regulation, the rules of the principal securities exchange on
which the Units are then traded, or entitle the Partnership or an Affiliate to recover the same under Section 16(b) of the Exchange Act, and any payment tendered to the General Partner by a Participant, other holder, or beneficiary in
connection with the exercise of such Award shall be promptly refunded to the relevant Participant, holder, or beneficiary. 
 (g) No
Fractional Units. No fractional Units shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine in its sole discretion whether cash, other securities, or other property shall be paid or transferred in lieu
of any fractional Units or whether such fractional Units or any rights thereto shall be canceled, terminated, or otherwise eliminated with or without consideration. 

(h) Headings; Construction. Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate
reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof. All words used in this Plan shall be construed to be of such gender or number, as the
circumstances require. Unless otherwise expressly provided, the word “including” does not limit the preceding words or terms. 

(i) Facility of Payment. Any amounts payable hereunder to any individual under legal disability or who, in the judgment of the
Committee, is unable to manage properly his financial affairs may be paid to the legal representative of such individual or may be applied for 

  
 19 

 
the benefit of such individual in any manner that the Committee may select, and the General Partner, the Partnership and all of their Affiliates shall be relieved of any further liability for
payment of such amounts. 
 (j) Allocation of Costs. Nothing herein shall be deemed to override, amend, or modify any cost sharing
arrangement, omnibus agreement, or other arrangement between the General Partner, the Partnership, and any Affiliate regarding the sharing of costs between those entities. 

(k) Gender and Number. Words in the masculine gender shall include the feminine gender, the plural shall include the singular, and the
singular shall include the plural. 
 (l) Compliance with Section 409A. It is intended that all Awards under this Plan and any
Award Agreement either be exempt from or avoid taxation under Section 409A. All Options or other similar Awards that are granted with an exercise Price shall be granted with an exercise price such that the Award would not constitute deferred
compensation under Section 409A or shall otherwise be structured to avoid taxation under Section 409A. Any ambiguity in this Plan and any Award Agreement shall be interpreted to comply with Section 409A. To the extent applicable
(a) each amount or benefit payable pursuant to this Plan and any Award Agreement shall be deemed a separate payment for purposes of Section 409A and (b) in the event the equity interests of the Partnership are publicly traded on an
established securities market or otherwise, any payments under this Plan or any Award Agreement that are deemed to be deferred compensation subject to Section 409A shall not be paid or begin payment until the earlier of the Participant’s
death and the first day following the six (6) month anniversary of the Participant’s date of termination of employment. For all purposes under this Plan, with respect to any Award or any portion of an Award that is nonqualified deferred
compensation subject to Section 409A, any iteration of the word “termination” (e.g., “terminated”) in respect of a Participant’s service to any of the Partnership Entities shall mean a separation from service within the
meaning of Section 409A. The Committee shall use commercially reasonable efforts to implement the provisions of this Section 8(1) in good faith; provided that neither the Partnership, the General Partner, the Board, the Committee
nor any of the employees, Directors or representatives of the Affiliates of the Partnership shall have any liability to Participants with respect to this Section 8(l). 

(m) No Guarantee of Tax Consequences. None of the Board, the Committee, the Partnership, nor the General Partner makes any commitment
or guarantee that any federal, state, or local tax treatment will (or will not) apply or be available to any Participant. 
 (n)
Certificates. All certificates, if any, evidencing Units or other securities of the Partnership delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the
Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the SEC or other applicable governmental authority, any stock exchange or market upon which such securities are then listed, admitted or quoted, as
applicable, and any applicable Federal, state or any other applicable laws, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 

  
 20 

 (o) Funding. Unless the Committee determines otherwise, no benefit or promise under the
Plan shall be secured by any specific assets of the General Partners, the Partnership or any of their Affiliates, nor shall any assets of any of the Partnership Entities be designated as attributable or allocated to the satisfaction of the General
Partner’s or Partnership’s obligations under the Plan. 
 (p) Non-Uniform Determinations. The Committee’s
determinations under the Plan need not be uniform and may be made by it selectively among persons who receive or are eligible to receive Awards (whether or not such persons are similarly situated). Without limiting the generality of the foregoing,
the Committee shall be entitled, among other things, to make non-uniform and selective determinations, and to enter into non-uniform and selective Award Agreements, as to the persons to receive Awards under the Plan and the terms and provisions of
Awards under the Plan. 
 (q) Survival of Terms; Conflicts. The provisions of the Plan shall survive the termination of the Plan to
the extent consistent with, or necessary to carry out, the purposes thereof. Each Award Agreement remains subject to the terms of the Plan, however, in the event of any conflict between specific provisions of the Plan and an Award Agreement, the
Plan shall control, except where the terms of the Award Agreement are more restrictive than the terms of the Plan. 
 (r)
Arbitration. Any dispute with regard to the enforcement of this Plan and any Award Agreement hereunder shall be exclusively resolved by a single experienced arbitrator selected in accordance with the American Arbitration Association
(“AAA”) rules and procedures, at an arbitration to be conducted in the State of New York pursuant to the National Rules for the Resolution of Employment Disputes rules of the AAA with the arbitrator applying the substantive
law of the State of Delaware as provided for under Section 8(d) hereof. The AAA shall provide the parties hereto with lists for the selection of arbitrators composed entirely of arbitrators who are members of the National Academy of Arbitrators
and who have prior experience in the arbitration of disputes between employers and senior executives. The determination of the arbitrator shall be final and binding on the parties hereto and judgment therein may be entered in any court of competent
jurisdiction. Each party shall pay its own attorneys’ fees and disbursements and other costs of the arbitration. 
 Section 9.
Term of the Plan. The Plan shall be effective on the date on which it is adopted by the Board (the “Effective Date”) and shall continue until the earliest of (i) the date terminated by the Board, (ii) all
Units available under the Plan have been delivered to Participants, or (iii) the 10th anniversary of the Effective Date. However, any Award granted prior to such termination, and the authority of the Board or Committee to amend, alter, adjust,
suspend, discontinue, or terminate any such Award or to waive any conditions or rights under such Award, shall extend beyond such termination date. 

  
 21

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}]]