Magellan Midstream Holdings GP, LLC Summary of Independent Director Compensation Program

Compensation

Timing of Payment⁽¹⁾

Annual Board Retainer:

Cash

Common Units

$30,000

$50,000

(number of units determined on the semi-annual payment date)

Semi-annual payment of all retainers as of January 1^st and July 1^st

Chairman Retainer Fees:

Audit Committee

Conflicts Committee

$15,000

$10,000

Semi-annual payment of all retainers as of January 1^st and July 1^st

Meeting Fees:

Board Meeting Fees

Committee Meeting Fees

$1,500 per meeting

$1,500 per meeting

Semi-annual payment of all meeting fees as of June 30^th and December 15^th