Amendment to Tulsa Refinery Interconnects Term Sheet between Holly Refining & Marketing-Tulsa, LLC and HEP Tulsa LLC

Summary

This amendment updates the original Tulsa Refinery Interconnects Term Sheet between Holly Refining & Marketing-Tulsa, LLC and HEP Tulsa LLC. The main change is extending the reimbursement deadline from December 31, 2010, to March 31, 2011, for the construction of interconnecting facilities and pipelines at the Tulsa Refinery. All other terms of the original agreement remain unchanged. Both parties have agreed to this amendment as of December 31, 2010.

EX-10.1 2 d78731exv10w1.htm EX-10.1 exv10w1

Exhibit 10.1

AMENDMENT TO TULSA REFINERY INTERCONNECTS TERM SHEET

This Amendment to Tulsa Refinery Interconnects Term Sheet (this “Amendment”) amends that certain Tulsa Refinery Interconnects Term Sheet, dated as of August 9, 2010 (the “Term Sheet”), between Holly Refining & Marketing-Tulsa, LLC (“Holly Tulsa”) and HEP Tulsa LLC (“HEP Tulsa”) regarding the construction of facilities by HEP Tulsa at Holly Tulsa’s refinery in Tulsa, Oklahoma (the “Tulsa Refinery”), including facilities and pipelines to interconnect the Western and Eastern complexes of the Tulsa Refinery.

The terms of our understanding in principle as set forth in the Term Sheet are hereby modified and amended as follows:

1. The date “December 31, 2010” in the last sentence under the heading “Reimbursement” of the Term Sheet is hereby deleted in its entirety and replaced with “March 31, 2011”.

This Amendment is hereby intended to amend the Term Sheet.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

Acknowledged and Agreed this 31st day of December, 2010.


HOLLY REFINING & MARKETING — TULSA LLC
By:	Holly Refining & Marketing Company, its sole member

By:	/s/ David L. Lamp
	David L. Lamp
	President

HEP TULSA LLC
By:	/s/ David G. Blair
	David G. Blair
	President

[Signature Page to Amendment To Tulsa Refinery Interconnects Term Sheet]