Amendment to Crude Oil Supply and Terminalling Agreement between EOTT Energy Operating Limited Partnership and Koch Supply & Trading, LP (January 9, 2002)

Summary

EOTT Energy Operating Limited Partnership and Koch Supply & Trading, LP have agreed to amend their existing Crude Oil Supply and Terminalling Agreement, effective December 1, 2001. The amendment changes the supply volume price formula for at least six months, continuing month-to-month unless either party gives 30 days' notice to cancel. During this period, both parties suspend certain rights to renegotiate or terminate the agreement based on the price formula. If the amendment is canceled, original terms and rights are reinstated. All other terms of the original agreement remain unchanged.

EX-10.27 6 d97278exv10w27.txt LETTER AGREEMENT DATED JANUARY 9, 2002 EXHIBIT 10.27 * Certain portions of this exhibit have been omitted pursuant to a request for confidential treatment which has been filed separately with the SEC. January 9, 2002 EOTT Energy Operating Limited Partnership P. O. Box 4666 Houston, Texas ###-###-#### Re: Crude Oil Supply and Terminalling Agreement ("Agreement") dated December 1, 1998 by and between EOTT Energy Operating Limited Partnership ("EOTT") and Koch Supply & Trading, LP (assignee of Koch Petroleum Group, L.P.) ("Koch"), EOTT Contract No. 37562 Gentlemen: Effective December 1, 2001, for a period of six months, and continuing month to month thereafter on an evergreen basis subject to cancellation by either party with 30-day notice, each party agrees to amend Section 3.1 of the Agreement, Supply Volume Price Formula, in its entirety, to provide: - -------------------------------------------------------------------------------- ARTICLE 3 - SUPPLY VOLUME PRICE 3.1 [*] - -------------------------------------------------------------------------------- In recognition of this amendment, both parties agree to suspend the right to make any claims regarding any renegotiation of the Supply Volume Price pursuant to Section 8 and termination of the aforementioned Agreement pursuant to Section 8.3 through 8.6 for the period of time this amendment is in effect, starting December 1, 2001. If either party issues a 30-day notice of cancellation for this amendment, the claims previously suspended shall be reinstated and each party shall be allowed to exercise any and all rights they may have under the Agreement. Additionally, Section 3.1 shall revert to the language in the original Agreement at the end of the 30-day cancellation notice period. Should any party claim Uneconomic Market Conditions, as defined in the Agreement, the prices used to calculate such conditions shall be the Supply Volume Price Formula in effect for each month in question. Any claim for Uneconomic Market Conditions shall be made pursuant to the terms of the original Agreement and the suspension period shall not affect how such calculation is performed. Koch Petroleum Group January 9, 2002 Page 2 Except as hereby modified, all other terms and conditions of the Agreement, and any amendments hereto, shall remain in full force and effect. EOTT ENERGY OPERATING LIMITED PARTNERSHIP KOCH SUPPLY & TRADING, L.P. BY: EOTT ENERGY CORP., ON BEHALF OF EOTT ENERGY GENERAL PARTNER, L.L.C., ITS GENERAL PARTNER By: /s/ Dana R. Gibbs mms By: /s/ James B. Urban ----------------------------------- ------------------------------ Printed Name: Dana R. Gibbs Printed Name: James B. Urban Title: President and CEO Title: Vice President