<SEC-DOCUMENT>0000821483-18-000078.txt : 20181220
<SEC-HEADER>0000821483-18-000078.hdr.sgml : 20181220
<ACCEPTANCE-DATETIME>20181219194757
ACCESSION NUMBER:		0000821483-18-000078
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20181219
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20181220
DATE AS OF CHANGE:		20181219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAR PACIFIC HOLDINGS, INC.
		CENTRAL INDEX KEY:			0000821483
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				841060803
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36550
		FILM NUMBER:		181244460

	BUSINESS ADDRESS:	
		STREET 1:		825 TOWN & COUNTRY LANE
		STREET 2:		SUITE 1500
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024
		BUSINESS PHONE:		(281) 899-4800

	MAIL ADDRESS:	
		STREET 1:		825 TOWN & COUNTRY LANE
		STREET 2:		SUITE 1500
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAR PETROLEUM CORP/CO
		DATE OF NAME CHANGE:	20120907

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELTA PETROLEUM CORP/CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8-kxprojecteagleclosing.htm
<DESCRIPTION>8-K
<TEXT>
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<div><a name="s39061F2F5F74C1658A39AE9B744B9A94"></a></div><div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;-sec-extract:summary;"><hr></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:15pt;"><font style="font-family:inherit;font-size:15pt;font-weight:bold;">UNITED STATES </font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:inherit;font-size:15pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WASHINGTON, D.C. 20549 </font></div><div style="line-height:120%;text-align:left;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;</font></div><div style="line-height:120%;-sec-extract:summary;"><hr></div><div style="line-height:120%;padding-top:6px;text-align:center;font-size:15pt;"><font style="font-family:inherit;font-size:15pt;font-weight:bold;">FORM 8-K </font></div><div style="line-height:120%;text-align:left;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;</font></div><div style="line-height:120%;-sec-extract:summary;"><hr></div><div style="line-height:120%;padding-top:6px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CURRENT REPORT </font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 </font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Date of Report (Date of earliest event reported): December 19, 2018</font></div><div style="line-height:120%;text-align:left;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;</font></div><div style="line-height:120%;-sec-extract:summary;"><hr></div><div style="line-height:120%;padding-top:6px;text-align:center;font-size:20pt;"><font style="font-family:inherit;font-size:20pt;font-weight:bold;">Par Pacific Holdings, Inc. </font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">(Exact name of registrant as specified in its charter) </font></div><div style="line-height:120%;text-align:left;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;</font></div><div style="line-height:120%;-sec-extract:summary;"><hr></div><div style="line-height:120%;text-align:left;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:34%;"></td><td style="width:1%;"></td><td style="width:32%;"></td><td style="width:1%;"></td><td style="width:32%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Delaware</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">1-36550</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">84-1060803</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;font-weight:bold;">(State or other jurisdiction</font></div><div style="text-align:center;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;font-weight:bold;">of incorporation)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;font-weight:bold;">(Commission</font></div><div style="padding-bottom:1px;text-align:center;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;font-weight:bold;">File Number)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;font-weight:bold;">(I.R.S. Employer</font></div><div style="padding-bottom:1px;text-align:center;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;font-weight:bold;">Identification No.)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:50%;"></td><td style="width:2%;"></td><td style="width:48%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">825 Town &amp; Country Lane, Suite 1500</font></div><div style="padding-bottom:1px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Houston, Texas</font></div></td><td 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style="font-family:inherit;font-size:7pt;font-weight:bold;">(Former name or former address, if changed since last report) </font></div><div style="line-height:120%;text-align:left;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;</font></div><div style="line-height:100%;padding-bottom:2px;text-align:center;font-size:5pt;"><font style="font-family:Arial;font-size:5pt;">&#160;</font></div><div style="line-height:120%;-sec-extract:summary;"><hr></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:4%;"></td><td style="width:96%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New 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style="width:96%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font></div><div style="-sec-extract:summary;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:9pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2). Emerging growth company  </font><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div><div style="-sec-extract:summary;font-size:9pt;"><font style="font-family:Wingdings;font-size:9pt;"><br></font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:9pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </font><font style="font-family:Wingdings;font-size:10pt;">&#168;</font><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:100%;padding-bottom:2px;text-align:left;font-size:6pt;"><font style="font-family:Arial;font-size:6pt;">&#160;</font></div><div style="line-height:120%;-sec-extract:summary;"><hr></div><div><br></div><div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 1.01.&#160;&#160;&#160;&#160;Entry into a Material Definitive Agreement</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On December 19, 2018 (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Closing Date</font><font style="font-family:inherit;font-size:10pt;">&#8221;), Par Hawaii Refining, LLC (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">PHR</font><font style="font-family:inherit;font-size:10pt;">&#8221;), an indirect subsidiary of Par Pacific Holdings, Inc. (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:10pt;">&#8221;) wholly-owned by Par Petroleum, LLC, completed its previously announced acquisition (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Acquisition</font><font style="font-family:inherit;font-size:10pt;">&#8221;) of all of the limited liability company interests of Eagle Island, LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Eagle</font><font style="font-family:inherit;font-size:10pt;">&#8221;), pursuant to that certain Topping Unit Purchase Agreement dated as of August 29, 2018 (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Purchase Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;), among PHR, IES Downstream, LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">IES</font><font style="font-family:inherit;font-size:10pt;">&#8221;), Eagle, and, solely for certain purposes specified in the Purchase Agreement, the Company. Pursuant to the Purchase Agreement, immediately prior to the Acquisition, IES contributed certain of its refining units and related assets in Hawaii to Eagle (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Topping Units</font><font style="font-family:inherit;font-size:10pt;">&#8221;).  The purchase price for the Acquisition was $45 million, payable with $30 million in cash and 860,502 shares (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Base Shares</font><font style="font-family:inherit;font-size:10pt;">&#8221;) of the Company&#8217;s common stock, par value $0.01 (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Common Stock</font><font style="font-family:inherit;font-size:10pt;">&#8221;). The purchase price will be adjusted by the value of hydrocarbon and certain nonhydrocarbon inventory at the Closing Date, with the initial adjustment for the nonhydrocarbon inventory paid for by the issuance of 247,700 shares (such shares together with the Base Shares, the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Shares</font><font style="font-family:inherit;font-size:10pt;">&#8221;) of Common Stock at the Closing Date, and for certain prorated expenses related to the ownership of the Topping Units.</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font><font style="font-family:inherit;font-size:10pt;">In connection with the closing of the Acquisition, the Company entered into a Registration Rights Agreement (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Registration Rights Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;), dated as of the Closing Date, with IES. The Registration Rights Agreement requires the Company (i)&#160;to file, no later than the third day following the Closing Date, with the Securities and Exchange Commission (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">SEC</font><font style="font-family:inherit;font-size:10pt;">&#8221;) a shelf registration statement covering resales of the Shares, (ii)&#160;to use its commercially reasonable efforts to cause such shelf registration statement to be declared effective by the SEC no later than (A)&#160;90 days after the Closing Date or (B)&#160;if earlier, three business days after the date on which the SEC informs the Company (I) that it will not review such shelf registration statement or (II) that the Company may request acceleration of such shelf registration statement, and (iii)&#160;to use its commercially reasonable efforts to keep such shelf registration statement effective until the earlier of (A)&#160;the date on which all of the Shares have been sold, (B)&#160;the date on which the Shares may be sold pursuant to Rule 144 of the Securities Act of 1933, as amended, without (I) notice or current information requirements, (II) manner of sale restrictions, or (III) volume or other restrictions, or (B)&#160;the fifth anniversary of the Closing Date.  The foregoing description of the Registration Rights Agreement is qualified in its entirety by reference to the Registration Rights Agreement, a copy of which is attached hereto as Exhibit 4.1, and incorporated by reference herein.</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 3.02 &#160;&#160;&#160;&#160;Unregistered Sales of Equity Securities.</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The information provided under Item 1.01 in this Current Report on Form 8-K regarding the issuance of the Shares to IES pursuant to the terms of the Purchase Agreement is incorporated by reference into this Item 3.02. No finders&#8217; fees or commissions were paid to any party in connection with the issuance of the Shares. The Shares were issued by the Company in a private placement transaction in reliance upon an exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;7.01. &#160;&#160;&#160;&#160;Regulation FD Disclosure. </font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On the Closing Date, the Company issued a news release announcing the closing of the Acquisition. The news release is filed as Exhibit&#160;99.1 to this Form 8-K, and is incorporated herein by reference.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with General Instruction B.2 of Form 8-K, the foregoing information, including Exhibit 99.1, shall not be deemed &#8220;filed&#8221; for the purposes of Section&#160;18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information and Exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.</font></div><div style="line-height:120%;text-align:left;text-indent:33px;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Forward-Looking Statements</font></div><div style="line-height:120%;text-align:left;text-indent:33px;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This Current Report on Form 8-K, including Exhibit 99.1, includes certain &#8220;forward-looking statements&#8221; within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to qualify for the &#8220;safe harbor&#8221; from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements with respect to the Acquisition are forward-looking statements. Additionally, forward looking statements are subject to certain risks, trends, and uncertainties. The Company cannot provide assurances that the assumptions upon which these forward-</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">looking statements are based will prove to have been correct.&#160; Should one of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of the date of this Current Report on Form 8-K.&#160; The Company does not intend to update or revise any forward-looking statements made herein or any other forward looking statements as a result of new information, future events or otherwise.&#160;The Company further expressly disclaims any written or oral statements made by a third party regarding the subject matter of this Current Report on Form 8-K.</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 8.01&#160;&#160;&#160;&#160;Other Events</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In connection with the closing of the Acquisition, the parties entered into a number of ancillary agreements, including a long-term agreement with IES to utilize IES&#8217; retained logistics assets in Hawaii for the storage and throughput of crude oil and refined products necessary for the operation of the Topping Units.</font></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 9.01&#160;&#160;&#160;&#160;Financial Statements and Exhibits</font></div><div style="line-height:120%;padding-top:6px;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d) &#160;&#160;&#160;&#160;Exhibits</font></div><div style="line-height:120%;padding-top:6px;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">4.1</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="ex41eagle-registrationrigh.htm"><font style="font-family:inherit;font-size:10pt;">Registration Rights Agreement, dated December 19, 2018, between Par Pacific Holdings, Inc. and IES Downstream, LLC.</font></a></div></td></tr></table><div style="line-height:120%;padding-top:6px;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">99.1&#160;&#160;&#160;&#160;</font><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="ex991parriesclosingrelease.htm"><font style="font-family:inherit;font-size:10pt;">News Release, dated December 19, 2018.</font></a></div><div style="line-height:120%;text-align:justify;padding-left:48px;text-indent:-48px;-sec-extract:summary;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SIGNATURES </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:22px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:22px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date: December 19, 2018 </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;text-align:-moz-right;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:44.24603174603175%;border-collapse:collapse;text-align:left;margin-left:auto;margin-right:0;"><tr><td colspan="3"></td></tr><tr><td style="width:13%;"></td><td style="width:3%;"></td><td style="width:84%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="3" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PAR PACIFIC HOLDINGS, INC.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:1px;padding-right:2px;"><div style="padding-bottom:1px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ J. Matthew Vaughn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">J. Matthew Vaughn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Senior Vice President and General Counsel</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:right;-sec-extract:summary;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div><div style="line-height:120%;text-align:left;-sec-extract:summary;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
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<TYPE>EX-4.1
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<DESCRIPTION>EXHIBIT 4.1
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<div><a name="sA4BC8BC5356015B92209AEEEB71B37BC"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">FINAL FORM</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">REGISTRATION RIGHTS AGREEMENT</font></div><div><a name="sC54065AB44EC50C4B7E2AEEEB72FE83E"></a></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">THIS REGISTRATION RIGHTS AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;), dated as of December 19, 2018, is entered into among Par Pacific Holdings, Inc., a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:11pt;">&#8221;), and IES Downstream, LLC, a Delaware limited liability company (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Holder</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:24px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">W I T N E S S E T H</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Company and the Holder entered into that certain Topping Unit Purchase Agreement (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Purchase Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;) dated as of August 29, 2018, by and among the Holder, Eagle Island, LLC, a Delaware limited liability company (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Target Company</font><font style="font-family:inherit;font-size:11pt;">&#8221;), Par Hawaii Refining, LLC, a Hawaii limited liability company ("</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Purchaser</font><font style="font-family:inherit;font-size:11pt;">") and, for the limited purposes set forth therein, the Company, pursuant to which, as partial consideration for the acquisition of the Target Company from the Holder, the Company agreed to issue shares of common stock, par value $0.01 per share (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Common Stock</font><font style="font-family:inherit;font-size:11pt;">&#8221;), of the Company to the Holder, on the terms and subject to the conditions set forth therein; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Company has agreed to provide the Holder with the registration rights specified in this Agreement with respect to all shares of Common Stock acquired by the Holder at the closing of the transactions contemplated by the Purchase Agreement, on the terms and subject to the conditions set forth herein.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">NOW, THEREFORE, in consideration of the premises, and the mutual covenants and agreements set forth below, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:center;text-indent:0px;"><font style="padding-bottom:16px;text-align:center;font-family:inherit;font-size:12pt;font-weight:bold;padding-right:96px;">ARTICLE 1</font><font style="font-family:inherit;font-size:10pt;">&#32;<br> <br></font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">DEFINITIONS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 1.1</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Definitions</font><font style="font-family:inherit;font-size:11pt;">.  Capitalized terms used in this Agreement and not otherwise defined herein shall have the meanings set forth below:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Additional Registration Statement</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning set forth in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.1(b)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Adverse Effect</font><font style="font-family:inherit;font-size:11pt;">&#8221; means an adverse effect on the price, timing or distribution of the Registrable Shares pursuant to any Registration Statement, based on market conditions or otherwise.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Advice</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning set forth in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.5</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Affiliate</font><font style="font-family:inherit;font-size:11pt;">&#8221; means, with respect to any Person, any other Person which directly or indirectly through one or more intermediaries Controls, is controlled by, or is under common Control with, such Person.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning set forth in the Preamble.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Allocated Purchase Price</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the per share value for the shares of the Common Stock issued to the initial Holder pursuant to the Purchase Agreement, as determined pursuant to the Purchase Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Board</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the board of directors of the Company.</font></div><div><br></div><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:6pt;">\\NY - 047961/000001 - 9107327 v8</font><font style="font-family:inherit;font-size:12pt;">&#32;</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Business Day</font><font style="font-family:inherit;font-size:11pt;">&#8221; 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has the meaning set forth in the Preamble and will include any successors pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.12</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Company Covered Persons</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning set forth in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7(b)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Control</font><font style="font-family:inherit;font-size:11pt;">&#8221; 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means any international, supranational or national government, any state, provincial, local or other political subdivision thereof; any entity, authority or body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government; any court, tribunal or arbitrator; any self-regulatory organization; or any securities exchange or quotation system.</font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Holder</font><font style="font-family:inherit;font-size:11pt;">&#8221; 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has the meaning set forth in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 4.8(a)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Party</font><font style="font-family:inherit;font-size:11pt;">&#8221; means any party to this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Person</font><font style="font-family:inherit;font-size:11pt;">&#8221; or &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">person</font><font style="font-family:inherit;font-size:11pt;">&#8221; 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and &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">registration</font><font style="font-family:inherit;font-size:11pt;">&#8221; refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such registration statement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Registrable Shares</font><font style="font-family:inherit;font-size:11pt;">&#8221; means (i) the shares of Common Stock issued by the Company to the Holder pursuant to the Purchase Agreement, and (ii) any and all shares of Common Stock issued or issuable with respect to such shares of Common Stock by way of stock dividend or a stock split or in connection with any combination of shares, recapitalization, merger, consolidation or other reorganization; </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">provided</font><font style="font-family:inherit;font-size:11pt;">, </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">however</font><font style="font-family:inherit;font-size:11pt;">, that such shares of Common Stock set forth in (i) and (ii) above shall cease to be Registrable Shares as set forth in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 3.1</font><font style="font-family:inherit;font-size:11pt;">. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Registration Statement</font><font style="font-family:inherit;font-size:11pt;">&#8221; shall mean each of the Resale Shelf Registration Statement and any Additional Registration Statements.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Resale Shelf Registration Statement</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning set forth in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.1(a)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Rule 144</font><font style="font-family:inherit;font-size:11pt;">&#8221; means Rule 144 promulgated under the Securities Act, as the same may be amended from time to time, and any successor or similar rule or regulation hereafter adopted by the SEC.</font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Rule 415</font><font style="font-family:inherit;font-size:11pt;">&#8221; 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means the Securities Act of 1933, as amended, and the rules and regulations promulgated by the SEC thereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Selling Securityholder Questionnaire</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning set forth in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.14</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Subsidiaries</font><font style="font-family:inherit;font-size:11pt;">&#8221; means any other Person (a) in which the Company owns, directly or indirectly, fifty percent (50%) or more of the securities or other ownership interests of such other Person, or (b) in which the Company owns, directly or indirectly, securities or other ownership interests having ordinary voting power to elect a majority of the board of managers or directors, or other persons performing similar functions, of such other Person.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Suspension Notice</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning set forth in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.5</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Suspension Period</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning set forth in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.5</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Target Company</font><font style="font-family:inherit;font-size:11pt;">&#8221; has the meaning set forth in the Recitals.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:5px;text-align:justify;text-indent:30px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 1.2</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Headings</font><font style="font-family:inherit;font-size:11pt;">.  Headings shall be ignored in construing this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:5px;text-align:justify;text-indent:30px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 1.3</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Singular, plural, gender</font><font style="font-family:inherit;font-size:11pt;">.  References to one gender include all genders and references to the singular include the plural and vice versa.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:5px;text-align:justify;text-indent:30px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 1.4</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Recitals and Sections</font><font style="font-family:inherit;font-size:11pt;">.  References to this Agreement shall include the Recitals to it and references to Sections are to Sections of this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:5px;text-align:justify;text-indent:30px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 1.5</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Information</font><font style="font-family:inherit;font-size:11pt;">.  References to books, records or other information mean books, records or other information in any form including paper, electronically stored data, magnetic media, film and microfilm.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:5px;text-align:justify;text-indent:30px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 1.6</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Interpretation</font><font style="font-family:inherit;font-size:11pt;">.  Whenever the words &#8220;include,&#8221; &#8220;includes&#8221; or &#8220;including&#8221; are used in this Agreement, they shall be deemed to be followed by the words &#8220;without limitation.&#8221;  This Agreement shall be construed as if it is drafted by all the Parties and no presumption or burden of proof will arise favoring or disfavoring any Party by virtue of authorship of any of the provisions of this Agreement if an ambiguity or question of intent or interpretation arises.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ARTICLE 2</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; <br></font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#32;<br>REGISTRATION RIGHTS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.1</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Registration</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Registration Statement</font><font style="font-family:inherit;font-size:11pt;">.  Subject to the terms and conditions of this Agreement, as soon as reasonably practicable after the Closing Date, but in any event no later than the applicable Filing Deadline, the Company will prepare and file a registration statement (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Resale Shelf Registration Statement</font><font style="font-family:inherit;font-size:11pt;">&#8221;) with the SEC for the resale of the Registrable Shares. The Registration Statement filed with the SEC pursuant to this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.1(a)</font><font style="font-family:inherit;font-size:11pt;">&#32;shall be on Form&#160;S-3 or any successor form thereto or, if such form is not then available to the Company, on Form&#160;S-1 or any successor form thereto or such other form of registration statement as is then available for an offering to be made on a delayed or continuous basis under the provisions of Rule&#160;415.  The Company shall use its commercially reasonable efforts to (a) have the Resale Shelf Registration Statement declared effective on or prior to the applicable Effectiveness Deadline, and (b) cause the Resale Shelf Registration Statement to continue to be effective until the expiration of the applicable Effectiveness Period.  For avoidance of doubt, the Company&#8217;s obligations hereunder shall include the filing of all amendments, post-effective amendments and supplements to the Resale Shelf Registration Statement and the prospectus used therein as may be necessary to keep such Resale Shelf Registration Statement effective throughout the applicable Effectiveness Period and comply with the Securities Act with respect to the disposition of all Registrable Shares during such period, as required pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.4(a)</font><font style="font-family:inherit;font-size:11pt;">. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">SEC Modification of Offering Size</font><font style="font-family:inherit;font-size:11pt;">.  If at any time the SEC takes the position that the offering of some or all of the Registrable Shares on the Resale Shelf Registration Statement is not eligible to be made on a delayed or continuous basis under the provisions of Rule 415 or requires any Holder to be named as an &#8220;underwriter&#8221;, the Company shall use its commercially reasonable efforts to persuade the SEC that the offering contemplated by the Resale Shelf Registration Statement is a valid secondary offering and not an offering &#8220;by or on behalf of the issuer&#8221; as defined in Rule 415 and that none of the Holders is an &#8220;underwriter&#8221;. The Holders shall have the right to participate or have their counsel (which counsel shall be one (1) counsel for all Holders and which counsel shall be selected by the Holders of 85% of the Registrable Shares) participate in any meetings or discussions with the SEC regarding the SEC&#8217;s position and to comment or have their counsel comment on any written submission made to the SEC with respect thereto. No such written submission shall be made to the SEC to which the Holders&#8217; counsel reasonably objects. In the event that, despite the Company&#8217;s commercially reasonable efforts and compliance with the terms of this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.1(c</font><font style="font-family:inherit;font-size:11pt;">), the SEC refuses to alter its position, the Company shall (i) remove from the Resale Shelf Registration Statement such portion of the Registrable Shares objected to by the SEC (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Cut Back Shares</font><font style="font-family:inherit;font-size:11pt;">&#8221;) and/or (ii) agree to such restrictions and limitations on the registration and resale of the Registrable Shares as the SEC may require to assure the Company&#8217;s compliance with the requirements of Rule 415 (collectively, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">SEC Restrictions</font><font style="font-family:inherit;font-size:11pt;">&#8221;); </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">provided</font><font style="font-family:inherit;font-size:11pt;">, </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">however</font><font style="font-family:inherit;font-size:11pt;">, that the Company shall not, and shall not agree to, name any Holder as an &#8220;underwriter&#8221; in such Resale Shelf Registration Statement or otherwise without the prior written consent of such Holder. Any cut-back imposed on the Holders pursuant to this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.1(c)</font><font style="font-family:inherit;font-size:11pt;">&#32;shall be allocated among the Holders on a pro rata basis, unless the SEC Restrictions otherwise require or provide or the Holders otherwise agree. On or prior to the applicable Effectiveness Deadline, the Company shall have one or more registration statements declared effective covering the resale of the Cut Back Shares (each an &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Additional Registration Statement</font><font style="font-family:inherit;font-size:11pt;">&#8221;). The Additional Registration Statement filed with the SEC pursuant to this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.1(c)</font><font style="font-family:inherit;font-size:11pt;">&#32;shall be on Form&#160;S-3 or any successor form thereto or, if such form is not then available to the Company, on Form&#160;S-1 or any successor form thereto or such other form of registration statement as is then available for an offering to be made on a delayed or continuous basis under the provisions of Rule&#160;415.  </font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.2</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Delay Rights</font><font style="font-family:inherit;font-size:11pt;">.  Notwithstanding anything to the contrary contained herein, the Company may, upon written notice to the Holders, delay the filing or effectiveness of a Registration Statement required under </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.1</font><font style="font-family:inherit;font-size:11pt;">&#32;if the Company (x)&#160;is pursuing an acquisition, merger, tender offer, reorganization, disposition or other similar transaction and the Board determines in good faith that (A)&#160;the Company&#8217;s ability to pursue or consummate such a transaction would be materially adversely affected by any required disclosure of such transaction in such Registration Statement or other registration statement or (B)&#160;such transaction renders the Company unable to comply with SEC requirements, in each case under circumstances that would make it impractical or inadvisable to cause the Registration Statement (or such filings) to become effective or to promptly amend or supplement the Registration Statement on a post-effective basis, as applicable, or (y)&#160;has experienced some other material non-public event the disclosure of which at such time, in the good faith judgment of the Board, would materially adversely affect the Company; </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">provided, however</font><font style="font-family:inherit;font-size:11pt;">, that the Company may defer the filing of a Registration Statement pursuant to this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.2</font><font style="font-family:inherit;font-size:11pt;">&#32;only once and in no event shall (A) such filing of such Registration Statement be delayed under this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.2</font><font style="font-family:inherit;font-size:11pt;">&#32;for a period that exceeds 10&#160;calendar days or (B) such effectiveness of such Registration Statement be delayed under this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.2</font><font style="font-family:inherit;font-size:11pt;">&#32;for a period that exceeds 30&#160;calendar days. Upon disclosure of such information or the termination of the condition described above, the Company shall provide prompt notice, but in any event within one Business Day of such disclosure or termination, to the Holders and shall promptly file the Registration Statement. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:30px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.3</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">SEC Registration Statements</font><font style="font-family:inherit;font-size:11pt;">.  All Registration Statements shall comply as to form in all material respects with applicable requirements of the Securities Act, and, together with each prospectus included, filed or otherwise furnished by the Company in connection therewith, shall not contain any untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading (in the case of any prospectus contained in such Registration Statement, in the light of the circumstances under which a statement is made).</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:5px;text-align:justify;text-indent:30px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.4</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Registration Procedures</font><font style="font-family:inherit;font-size:11pt;">.  The Company shall use commercially reasonable efforts to effect the registration and the sale of such Registrable Shares in accordance with the terms hereof, and pursuant thereto the Company shall as expeditiously as possible, but subject to the other provisions of this Agreement:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">prepare and file with the SEC by the applicable Filing Deadline each Registration Statement on the appropriate form under the Securities Act with respect to such Registrable Shares as required or permitted in accordance with the terms of this Agreement and use commercially reasonable efforts to cause such Registration Statement to become effective by the applicable Effectiveness Deadline, and to remain continuously effective throughout the applicable Effectiveness Period, prepare and file with the SEC such amendments, post-effective amendments, and supplements to each Registration Statement and the prospectus used in connection therewith as may be necessary to keep such Registration Statement effective throughout the applicable Effectiveness Period and comply with the provisions of the Securities Act with respect to the disposition of all Registrable Shares during such period in accordance with the intended methods of disposition by the sellers thereof set forth in such Registration Statement;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">&#32;provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that as far in advance as practicable before filing any such Registration Statement or any amendment or supplement to such Registration Statement, the Company shall furnish to the selling Holders copies of reasonably complete drafts of all such documents prepared to be filed (including exhibits and documents that are to be incorporated by reference into the Registration Statement, amendment or supplement), and any such Holder shall have the opportunity to provide comments to any information contained therein pertaining to such Holder and the Company shall make any corrections reasonably requested by </font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">such Holder with respect to such information prior to filing any such Registration Statement, amendment or supplement;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">furnish without charge to each Holder selling Registrable Shares such number of copies of each Registration Statement, each amendment and supplement thereto, the prospectus included in such Registration Statement, any documents incorporated by reference therein and such other documents as such Holder may reasonably request in order to facilitate the disposition of the Registrable Shares owned by such Holder (it being understood that, subject to this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.4</font><font style="font-family:inherit;font-size:11pt;">&#32;and the requirements of the Securities Act and applicable state securities laws, the Company consents to the use of the prospectus and any amendment or supplement thereto by each such Holder in connection with the offering and sale of the Registrable Shares covered by the Registration Statement of which such prospectus, amendment or supplement is a part);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">use commercially reasonable efforts to register or qualify such Registrable Shares under such other securities or &#8220;blue sky&#8221; laws of such jurisdictions as any Holder thereof reasonably requests; use commercially reasonable efforts to keep each such registration or qualification (or exemption therefrom) effective during the applicable Effectiveness Period; and do any and all other acts and things which may be reasonably necessary or advisable to enable each such Holder to consummate the disposition of the Registrable Shares owned by such Holder in such jurisdictions;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">&#32;provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that the Company shall not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this subparagraph, (ii) subject itself to taxation in any such jurisdiction where it is not at such time so subject, or (iii) consent to general service of process in any such jurisdiction where it is not at such time so subject;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">promptly notify each Holder of such Registrable Shares in writing (i) when a prospectus or any prospectus supplement or post-effective amendment has been filed and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective; (ii) of the issuance by any state securities or other regulatory authority of any order suspending the qualification or exemption from qualification of any of the Registrable Shares under state securities or &#8220;blue sky&#8221; laws or the initiation or threat of initiation of any proceedings for that purpose; and (iii) if such Registration Statement or related prospectus, at the time it or any amendment thereto became effective or at any time such prospectus is required to be delivered under the Securities Act, contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading, upon the discovery by the Company of such material misstatement or omission or of the happening of any event as a result of which the Company believes there would be such a material misstatement or omission;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">&#32;provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that, in the case of clause (iii), promptly after delivery of such notice, the Company shall, as the case may be, (x) prepare and file with the SEC a post-effective amendment to such Registration Statement and use commercially reasonable efforts to cause such amendment to become effective so that such Registration Statement, as so amended, shall not contain any untrue statement of a material fact or omit a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading or (y) prepare and furnish a supplement or amendment to such prospectus so that, as thereafter deliverable to the purchasers of such Registrable Shares, such prospectus shall not contain any untrue statement of a material fact or omit a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">permit any selling Holder holding, or representing Holders of, 85% of the Registrable Shares included in such Registration Statement, to participate in the preparation of such </font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Registration Statement or related prospectus and reasonably incorporate any information about such Holder furnished to the Company by such Holder that, in the reasonable judgment of the Company, should be included; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(f)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the SEC, including the Securities Act and the Exchange Act, and make generally available to the Company&#8217;s security holders an earnings statement satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder, as soon as reasonably practicable, but no later than thirty (30) days after the end of the twelve (12)-month period beginning with the first day of the Company&#8217;s first fiscal quarter commencing after the effective date of a Registration Statement, which earnings statement shall cover said twelve (12)-month period; provided that such requirement shall be deemed satisfied if the Company timely files complete and accurate information on Forms 10-Q, 10-K and 8-K under the Exchange Act as required thereby and otherwise complies with Rule 158 under the Securities Act;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(g)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">cooperate with the selling Holders to facilitate the timely preparation and delivery of certificates representing Registrable Shares sold under any Registration Statement, which certificates shall not bear any restrictive legends unless required under applicable law, and enable such Registrable Shares to be in such denominations and registered in such names as such selling Holders may request and keep available and make available to the Company&#8217;s transfer agent prior to the effectiveness of such Registration Statement a supply of such certificates; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(h)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">cause the Registrable Shares included in any Registration Statement to be listed on each securities exchange or quotation system, if any, on which similar securities issued by the Company are then listed or quoted;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">provide a transfer agent and registrar for all Registrable Shares registered hereunder not later than the effective date of the Registration Statement related thereto;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(j)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">use commercially reasonable efforts to cause Registrable Shares covered by such Registration Statement to be registered with or approved by such other Governmental Authorities as may be necessary to enable the sellers thereof to consummate the disposition of such Registrable Shares;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(k)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">notify each selling Holder promptly of any written comments by the SEC or any request by the SEC for the amending or supplementing of such Registration Statement or prospectus or for additional information;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(l)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">make every reasonable effort to prevent the entry of any order suspending the effectiveness of the Registration Statement and, in the event of the issuance of any such stop order, or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any security included in such Registration Statement for sale in any jurisdiction, the Company shall use commercially reasonable efforts promptly to obtain the withdrawal of such order;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(m)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">provide a CUSIP number for all Registrable Shares not later than the effective date of the Registration Statement with respect thereto;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(n)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">advise each selling Holder, promptly after it shall receive notice or obtain knowledge thereof, of the issuance or threat of issuance of any stop order by the SEC suspending the effectiveness </font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">of such Registration Statement or the initiation or threatening of any proceeding for such purpose and promptly use commercially reasonable efforts to prevent the issuance of any stop order or to obtain its withdrawal at the earliest possible moment if such stop order should be issued;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(o)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">upon request and subject to appropriate confidentiality obligations, furnish to each selling Holder copies of any and all transmittal letters or other correspondence with the SEC or any other Governmental Authority relating to such offering of Registrable Shares; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(p)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">during the Effectiveness Period, refrain from bidding for or purchasing any Common Stock or any right to purchase Common Stock or attempting to induce any person to purchase any such security or right if such bid, purchase or attempt would in any way limit the right of the Holders to sell Registrable Shares by reason of the limitations set forth in Regulation M of the Exchange Act.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:5px;text-align:justify;text-indent:30px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.5</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Suspension of Dispositions</font><font style="font-family:inherit;font-size:11pt;">.  Each Holder agrees by acquisition of any Registrable Shares that, upon receipt of any notice (a &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Suspension Notice</font><font style="font-family:inherit;font-size:11pt;">&#8221;) from the Company of the happening of any Material Disclosure Event, such Holder shall promptly discontinue such Holder&#8217;s disposition of Registrable Shares until such Holder&#8217;s receipt of the copies of the supplemented or amended prospectus, or until it is advised in writing by the Company (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Advice</font><font style="font-family:inherit;font-size:11pt;">&#8221;) that the use of the prospectus may be resumed, and has received copies of any additional or supplemental filings that are incorporated by reference in the prospectus, and, if so directed by the Company, such Holder shall deliver to the Company all copies, other than permanent file copies then in such Holder&#8217;s possession, of the prospectus covering such Registrable Shares current at the time of receipt of such notice. In the event the Company shall give any Suspension Notice, the applicable Effectiveness Period relating to the disposition of such Registrable Shares shall be extended by the number of days during the period from and including the date of the giving of the Suspension Notice to and including the date when each seller of Registrable Shares covered by such Registration Statement shall have received the copies of the supplemented or amended prospectus or the Advice (such period, a &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Suspension Period</font><font style="font-family:inherit;font-size:11pt;">&#8221;).  The Company shall use commercially reasonable efforts and take such actions as are reasonably necessary to render the Advice as promptly as practicable and shall as promptly as practicable after the expiration of the Suspension Period prepare a post-effective amendment or supplement to the Registration Statement or the prospectus or any document incorporated therein by reference, or file any required document so that, as thereafter delivered to purchasers of the Registrable Shares included therein, the prospectus will not include an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. Notwithstanding anything herein to the contrary, the Company shall not be entitled to more than two (2) Suspension Periods during any consecutive twelve (12)-month period, which Suspension Periods shall have durations of not more than one hundred twenty (120) days in the aggregate; provided that a Suspension Period shall automatically expire upon the public disclosure of the information to which the Material Disclosure Event relates.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.6</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Registration Expenses</font><font style="font-family:inherit;font-size:11pt;">.  Except as specifically set forth elsewhere in this Agreement, the Company shall pay all reasonable, out-of-pocket fees and expenses incident to any registration of the Registrable Shares hereunder, including all expenses incident to the Company&#8217;s performance of or compliance with this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Article 2</font><font style="font-family:inherit;font-size:11pt;">, all registration and filing fees, all internal fees and expenses of the Company (including any allocation of salaries of employees of the Company or any of its Subsidiaries or other general overhead expenses of the Company and its Subsidiaries or other expenses related to the preparation of financial statements or other data normally prepared by the Company and its Subsidiaries in the ordinary course of business and expenses of its officers and employees performing legal or accounting duties), all fees and expenses associated with filings required to be made with any applicable Governmental Authority, as may be required by the rules and regulations of such Governmental Authority, fees and expenses of </font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">compliance with securities or &#8220;blue sky&#8221; laws (including reasonable fees and disbursements of counsel in connection with &#8220;blue sky&#8221; qualifications of the Registrable Shares), rating agency fees, printing expenses (including expenses of printing certificates for the Registrable Shares in a form eligible for deposit with Depository Trust Company and of printing prospectuses if the printing of prospectuses is requested by a Holder of Registrable Shares), messenger, duplicating, distribution and delivery expenses, the expense of any annual audit or quarterly review, the expense of any liability insurance, the fees and expenses incurred in connection with any listing or quotation of the Registrable Shares, fees and expenses of counsel for the Company and fees and expenses of its independent certified public accountants (including the expenses of any special audit or &#8220;cold comfort&#8221; letters required by or incident to such performance) and the fees and expenses of any special experts retained by the Company in connection with such registration. Any discounts, commissions, fees or stock transfer taxes attributable to the sale of the Registrable Shares shall be borne by the Holders pro rata on the basis of the number of shares so registered whether or not any Registration Statement becomes effective, and the fees and expenses of any counsel, accountants, or other persons retained or employed by any Holder (other than as set forth in the preceding sentence) shall be borne by such Holder.</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt"> </sup>&#160;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.7</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Indemnification</font><font style="font-family:inherit;font-size:11pt;">.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The Company agrees to indemnify and hold harmless, to the fullest extent permitted by applicable law, each seller of Registrable Shares, its Affiliates and their respective employees, advisors, agents, representatives, successors, stockholders, partners, members, officers, and directors, each other Person who participates as a broker or dealer in any offering or sale of securities and each other Person who controls such seller or any such participating Person (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and any agent or investment advisor thereof (collectively, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Holder Covered Persons</font><font style="font-family:inherit;font-size:11pt;">&#8221;) against, and reimburse, (i) any and all losses, claims, damages, liabilities and expenses, joint or several (including reasonable attorneys&#8217; fees and disbursements, other than to the extent limited by </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7(c)</font><font style="font-family:inherit;font-size:11pt;">&#32;and </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(d)</font><font style="font-family:inherit;font-size:11pt;">), (x) based upon, arising out of, related to or resulting from any untrue or alleged untrue statement of a material fact contained in any Registration Statement or any amendment thereto, or any document incorporated by reference therein, or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, and (y) based upon, arising out of, related to or resulting from any untrue or alleged untrue statement of a material fact contained in any prospectus, preliminary prospectus or Issuer Free Writing Prospectus or any amendment or supplement thereto, or any document incorporated by reference therein, or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading; (ii) any and all losses, claims, damages, liabilities and expenses whatsoever, as incurred, to the extent of the aggregate amount paid in settlement of any litigation or investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon, arising out of, related to or resulting from any such untrue statement or omission or alleged untrue statement or omission; and (iii) any and all costs and expenses (including reasonable fees and disbursements of counsel) as may be reasonably incurred in investigating, preparing, or defending against any litigation, or investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon, arising out of, related to or resulting from any such untrue statement or omission or alleged untrue statement or omission, or such violation of the Securities Act or the Exchange Act, to the extent that any such expense or cost is not paid under clauses (i) or (ii) above; except (A) insofar as any such statements or omissions are caused by or contained in written information furnished to the Company by such seller or any Holder Covered Person specifically for inclusion in such Registration Statement, prospectus, preliminary prospectus Issuer Free Writing Prospectus, amendment or supplement thereto or (B) to the extent that any loss, claim, damage, </font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">liability or expense is incurred by a seller of Registrable Shares as a result of selling such Registrable Shares during a Suspension Period.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">In connection with any Registration Statement or prospectus in which a seller of Registrable Shares is participating pursuant to this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Article 2</font><font style="font-family:inherit;font-size:11pt;">, each such seller shall furnish to the Company such written information and affidavits regarding such seller, the Registrable Shares and the intended distribution thereof as the Company reasonably requests for use in connection with any such Registration Statement or prospectus and as shall be reasonably required in connection with any registration, qualification or compliance required in connection with this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Article 2</font><font style="font-family:inherit;font-size:11pt;">&#32;and, to the fullest extent permitted by applicable law, each such seller shall indemnify the Company, and its officers and directors and each other Person who controls the Company (within the meaning of the Securities Act or the Exchange Act) and any of its or their respective officers, directors, employees, agents, representatives, successors, members, stockholders and partners (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Company Covered Persons</font><font style="font-family:inherit;font-size:11pt;">&#8221;) against any and all losses, claims, damages, liabilities and expenses, joint or several (including reasonable attorneys&#8217; fees and disbursements, other than to the extent limited by </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7(c)</font><font style="font-family:inherit;font-size:11pt;">&#32;and </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(d)</font><font style="font-family:inherit;font-size:11pt;">), (x) based upon, arising out of, related to or resulting from any untrue or alleged untrue statement of a material fact contained in any Registration Statement or any amendment thereto, or any document incorporated by reference therein, or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, and (y) based upon, arising out of, related to or resulting from any untrue or alleged untrue statement of a material fact contained in any prospectus, preliminary prospectus or Issuer Free Writing Prospectus or any amendment or supplement thereto, or any document incorporated by reference therein, or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading, but, in the case of either (x) or (y), only to the extent that such untrue statement or alleged untrue statement or omission or alleged omission is contained in any written information furnished by such seller or any Holder Covered Person specifically stating that it has been provided for inclusion in such Registration Statement, prospectus, preliminary prospectus or Issuer Free Writing Prospectus or amendment or supplement thereto, or document incorporated by reference therein;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">&#32;provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that the obligation to indemnify shall be several, not joint and several, among such sellers of Registrable Shares, and the liability of each such seller of Registrable Shares shall be in proportion to, and shall be limited to, the net amount of proceeds received by such seller from the sale of Registrable Shares pursuant to such Registration Statement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Any Person entitled to indemnification hereunder shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">&#32;provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that the failure to give such notice shall not limit the rights of such Person or relieve the indemnifying party from any liability that it may have under subsection (a) and (b) above unless and only to the extent that failure to give such notice materially prejudices the indemnifying party; and (ii) unless in such indemnified party&#8217;s reasonable judgment a conflict of interest between such indemnified and any indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">&#32;provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that any Person entitled to indemnification hereunder shall have the right to employ separate counsel and to participate in the defense of such claim at the expense of such indemnified person, unless (x) the indemnifying party has agreed to pay such fees or expenses or (y) the indemnifying party shall have failed to assume the defense of such claim and employ counsel reasonably satisfactory to such person. If such defense is not assumed by the indemnifying party when permitted hereunder, the indemnified party shall be entitled to assume and control such defense and to settle and agree to pay in full such claim without the consent of the indemnifying party without prejudice </font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">to the ability of the indemnified party to enforce its claim for indemnification against the indemnifying party hereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Except as otherwise provided in the preceding paragraph, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent, which consent shall not be unreasonably withheld or delayed. If such defense is assumed by the indemnifying party pursuant to the provisions hereof, such indemnifying party shall not settle or otherwise compromise the applicable claim (i) unless (A) such settlement or compromise contains a full and unconditional release of the indemnified party and (B) such settlement or compromise does not include any statement as to, or any admission of, fault, culpability or a failure to act by or on behalf of the indemnified party or (ii) if such settlement or compromise provides for injunctive or other non-monetary relief, in each case, unless the indemnified party otherwise consents in writing. An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one (1) counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party, a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim, in which event the indemnifying party shall be obligated to pay the reasonable fees and disbursements of such additional counsel or counsels.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Each Party agrees that, if for any reason the indemnification provisions contemplated by </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7(a)</font><font style="font-family:inherit;font-size:11pt;">&#32;or </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7(b)</font><font style="font-family:inherit;font-size:11pt;">&#32;are unavailable or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities or expenses (or actions in respect thereof) referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities or expenses (or actions in respect thereof) (i) in such proportion as is appropriate to reflect the relative benefits received by the indemnifying party and the indemnified party from the offering of Registrable Shares (taking into account the portion of the proceeds of the offering realized by each such party), or (ii) if the allocation provided by clause (i) is not permitted by applicable law, or provides a lesser sum to the indemnified party than the amount hereinafter calculated in this clause (ii), in such proportion as is appropriate not only to reflect the relative benefits referred to in clause (i), but also the relative fault of the indemnifying party and the indemnified party, respectively, in connection with the actions or omissions that resulted in the losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by such indemnifying party or indemnified party, and the parties&#8217; relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Parties agree that it would not be just and equitable if contribution pursuant to this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7(e)</font><font style="font-family:inherit;font-size:11pt;">&#32;were determined by pro rata allocation (even if the Holders were treated as one (1) entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7(e)</font><font style="font-family:inherit;font-size:11pt;">. The amount paid or payable by an indemnified party as a result of the losses, claims, damages, liabilities or expenses (or actions in respect thereof) referred to above shall be deemed to include (subject to any limitation set forth thereon) any legal or other fees or expenses reasonably incurred by such indemnified party in connection with investigating or, except as provided in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7(c)</font><font style="font-family:inherit;font-size:11pt;">&#32;and </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">(d)</font><font style="font-family:inherit;font-size:11pt;">, defending any such action, proceeding or claim. Notwithstanding the provisions of this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7(e)</font><font style="font-family:inherit;font-size:11pt;">, no Holder shall be required to contribute an amount greater than the dollar amount by which the net proceeds received by such Holder with respect to the sale of any Registrable Shares exceeds the amount of damages that such Holder has otherwise been required to pay by reason of any and all untrue or alleged untrue statements of material </font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">fact or omissions or alleged omissions of material fact made in any Registration Statement, prospectus or preliminary prospectus or any amendment or supplement thereto, or any document incorporated by reference therein, related to such sale of Registrable Shares. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Holders&#8217; obligations in this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7(e)</font><font style="font-family:inherit;font-size:11pt;">&#32;to contribute shall be several in proportion to the amount of Registrable Shares registered by them and not joint and several. If indemnification is available under this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7</font><font style="font-family:inherit;font-size:11pt;">, the indemnifying parties shall indemnify each indemnified party to the fullest extent provided in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7(a)</font><font style="font-family:inherit;font-size:11pt;">&#32;and </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7(b)</font><font style="font-family:inherit;font-size:11pt;">&#32;without regard to the relative fault of said indemnifying party or indemnified party or any other equitable consideration provided for in this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7(e)</font><font style="font-family:inherit;font-size:11pt;">&#32;subject, in the case of the Holders, to the limits set forth in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7(b)</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(f)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The indemnification and contribution provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director, or controlling Person of such indemnified party and shall survive the transfer of securities and the termination of this Agreement.  The provisions of this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7</font><font style="font-family:inherit;font-size:11pt;">&#32;shall be in addition to any other rights to indemnification or contribution which an indemnified party may have pursuant to law, equity, contract or otherwise</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(g)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">As used in this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7</font><font style="font-family:inherit;font-size:11pt;">, the terms &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">officers</font><font style="font-family:inherit;font-size:11pt;">&#8221; and &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">directors</font><font style="font-family:inherit;font-size:11pt;">&#8221; shall include the direct or indirect partners, members or managers of Holders of Registrable Shares that are partnerships or limited liability companies, as the case may be.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.8</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Transfer of Registration Rights</font><font style="font-family:inherit;font-size:11pt;">.  Provided that the Company is given prompt written notice by the Holder of Registrable Shares of any transfer of Registrable Shares by such Holder of Registrable Shares stating the name and address of the transferee of such Registrable Shares and identifying the securities with respect to which the rights under this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Article 2</font><font style="font-family:inherit;font-size:11pt;">&#32;are being assigned, the rights of such Holder of Registrable Shares under this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Article 2</font><font style="font-family:inherit;font-size:11pt;">&#32;may be transferred in whole or in part at any time to any such transferee, so long as such transfer of securities is in accordance with all applicable state and federal securities laws and regulations, with the Company&#8217;s Restated Certificate of Incorporation (as the same may be amended from time to time), with this Agreement and the provisions of any other instruments executed by and among each of the Parties (including the Purchase Agreement), and such transferee agrees in writing to be bound by the terms of this Agreement by executing and delivering a Joinder Agreement in the form of </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Exhibit A</font><font style="font-family:inherit;font-size:11pt;">&#32;hereto (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Joinder Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;).  The Company shall be responsible for the expenses of registration in accordance with </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section&#160;2.6</font><font style="font-family:inherit;font-size:11pt;">&#32;of any transferee or assignee pursuant to this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section&#160;2.8</font><font style="font-family:inherit;font-size:11pt;">&#32;to the same extent as the original transferor.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:5px;text-align:justify;text-indent:30px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.9</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Rule 144</font><font style="font-family:inherit;font-size:11pt;">.  The Company shall timely file (taking into account all valid extensions) the reports required to be filed by it under the Securities Act and the Exchange Act (or, if the Company is not required to file such reports, shall, upon the request of the Holders, make publicly available information substantially similar to the type of information that would be required if the Company was subject to rules under the Securities Act and the Exchange Act) and shall use commercially reasonable efforts to take such further action as the Holders may reasonably request, in each case to the extent required from time to time to enable the Holders to sell Common Stock without registration under the Securities Act within the limitation of the exemptions provided by Rule 144. Upon the reasonable request of any Holder, the Company shall deliver to such parties a written statement as to whether it has complied with such requirements, a copy of the most recent annual or quarterly report of the Company, and such other reports and documents so filed by the Company as may be reasonably requested by any Holder in availing itself of any rule or regulation of the SEC permitting the selling of any of the securities without registration and shall, at its expense, </font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;padding-top:5px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">forthwith upon the request of any such Holder, deliver to such Holder a certificate, signed by the Company&#8217;s principal financial officer, stating (a) the Company&#8217;s name, address and telephone number (including area code), (b) the Company&#8217;s Internal Revenue Service identification number, (c) the Company&#8217;s SEC file number, (d) the number of shares of each class of capital stock outstanding as shown by the most recent report or statement published by the Company, and (e) whether the Company has filed the reports required to be filed under the Exchange Act for a period of at least ninety (90) days prior to the date of such certificate and has filed the most recent annual report required to be filed thereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.10</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Listing</font><font style="font-family:inherit;font-size:11pt;">.  So long as any Registrable Securities are outstanding, the Company shall use commercially reasonable efforts to maintain the approval of the Common Stock for listing on the New York Stock Exchange LLC or such other exchange or trading market as the Common Stock is then listed.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.11</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Preservation of Rights</font><font style="font-family:inherit;font-size:11pt;">. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Notwithstanding anything herein to the contrary, the registration rights contemplated hereby are not more favorable in any material respect than or otherwise inconsistent with the respective registration rights granted to the respective &#8220;Holders&#8221; under the Company&#8217;s Registration Rights Agreements dated August 31, 2012 and July 14, 2016 (collectively, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Existing Registration Rights Agreements</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">During the Effectiveness Period, the Company shall not (a) enter into any agreement with any Holder or prospective holder of any securities of the Company providing for the granting to such Holder or prospective holder of registration rights that are otherwise inconsistent with, or adversely effect, the rights granted hereunder or (b) with respect to its securities, enter into any agreement or arrangement, take any action, or permit any change to occur that violates or subordinates the rights expressly granted to the Holders in this Agreement.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.12</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Applicability of Rights to Holders in the Event of an Acquisition</font><font style="font-family:inherit;font-size:11pt;">.  In the event the Company merges into, consolidates with, sells substantially all of its assets to or otherwise becomes an Affiliate of a Person pursuant to a transaction or series of related transactions in which Holders or the respective members, partners or stockholders, as applicable, of the Holders receive equity securities of such Person (or of any Affiliate of such Person) in exchange for shares of Common Stock held by such Holders, all of the rights of the Holders set forth in this Agreement shall continue in full force and effect and shall apply to the Person the equity securities of which are received by such Holders pursuant to such transaction or series of related transactions. The Company agrees that the Company shall not enter into any agreement that has the effect set forth in the first clause of the preceding sentence unless such Person agrees to be bound by the foregoing provision.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.13</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Deemed Underwriters</font><font style="font-family:inherit;font-size:11pt;">.  To the extent that, in connection with a registration of any of the Registrable Shares under the Securities Act pursuant to </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.1</font><font style="font-family:inherit;font-size:11pt;">, any selling Holder is deemed to be an underwriter of Registrable Shares pursuant to any SEC comments or policies, the Company agrees that (1) the indemnification and contribution provisions contained in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.7</font><font style="font-family:inherit;font-size:11pt;">&#32;shall be applicable to the benefit of such selling Holder in its role as deemed underwriter in addition to its capacity as a Holder and (2) such selling Holder shall be entitled to conduct the due diligence which it would normally conduct in connection with an offering of securities registered under the Securities Act, including receipt of customary opinions and comfort letters. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.14</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Cooperation by Holders</font><font style="font-family:inherit;font-size:11pt;">.  Each selling Holder agrees to furnish to the Company a completed questionnaire in the form attached hereto as </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Exhibit B</font><font style="font-family:inherit;font-size:11pt;">&#32;(a &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Selling Securityholder </font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Questionnaire</font><font style="font-family:inherit;font-size:11pt;">&#8221;) on the date hereof (or, if not furnished by such time, then furnished prior to the filing of the registration statement contemplated hereby).  A Holder shall provide to the Company all such information, including information regarding such Holder and the distribution proposed by such Holder, and all such materials, including a Selling Securityholder Questionnaire and updates thereto, as may be reasonably requested, and take all such reasonable action, in each case as may be required or reasonably requested in order to permit the Company to comply with all applicable requirements of the Securities Act, the Exchange Act and any applicable regulatory or self-regulatory authority and the obligations and requirements of this Agreement, such provision of information and materials to be a condition precedent to the obligations of the Company pursuant to this Agreement to register the Registrable Shares held by such Holder. The Company shall have no obligation to file a Registration Statement if a Holder has failed to timely furnish, after receipt of a written request from the Company such information that the Company determines, after consultation with its counsel, is reasonably required in order for the registration statement to comply with the Securities Act until such information has been furnished.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ARTICLE 3</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; <br> <br></font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">TERMINATION</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 3.1</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Termination</font><font style="font-family:inherit;font-size:11pt;">.  A particular Registrable Share shall cease to be a Registrable Share when: (a) a registration statement covering such Registrable Share has been declared effective under the Securities Act by the SEC and such Registrable Share has been disposed of pursuant to such effective registration statement; (b) such Registrable Share is sold to the public pursuant to Rule 144; (c) such Registrable Share becomes eligible for sale pursuant to Rule 144 without (i) notice or current information requirements, (ii) manner of sale restrictions, or (iii) volume restrictions; (d) such Registrable Share is otherwise freely tradable without any limitations or restrictions under the Securities Act; or (e) such Registrable Share ceases to be outstanding. This Agreement may be terminated at any time by the written agreement of Holders of at least 85% of all Registrable Shares then outstanding.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ARTICLE 4</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; <br></font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#32;<br>MISCELLANEOUS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 4.1</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Whole Agreement</font><font style="font-family:inherit;font-size:11pt;">.  This Agreement, together with the Purchase Agreement, constitutes the entire agreement among the parties hereto and thereto with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, both oral and written, between the parties hereto with respect to the subject matter hereof and thereof (other than the non-disclosure and confidentiality agreements, if any, between the Company and the Holder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 4.2</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Successors and Assigns</font><font style="font-family:inherit;font-size:11pt;">.  Except as otherwise provided herein, no Party may assign, directly or indirectly, by operation of law or otherwise, any of its respective rights or delegate any of its responsibilities, liabilities or obligations under this Agreement, without the prior written consent of each other Party.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 4.3</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Amendment and Waiver</font><font style="font-family:inherit;font-size:11pt;">.  Except as otherwise provided herein and other than as a result of the execution and delivery of a Joinder Agreement, no amendment, alteration or modification of this Agreement or waiver of any provision of this Agreement shall be effective against the Company or the Holders unless such amendment, alteration, modification or waiver is approved in writing by the Company and the Holders of 85% of the Registrable Shares; provided, however, that no amendment, alteration, modification or waiver of the rights of any Holder may be made without such Holder&#8217;s prior written consent </font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">if such amendment, alteration, modification or waiver would have an Adverse Effect on such Holder&#8217;s rights under this Agreement.  The failure of any Party to enforce any provision of this Agreement shall not be construed as a waiver of such provision and shall not affect the right of such Party thereafter to enforce each provision of this Agreement in accordance with its terms.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 4.4</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Severability</font><font style="font-family:inherit;font-size:11pt;">.  If any provision of this Agreement, including any phrase, sentence, clause, Section or subsection, is inoperative or unenforceable for any reason, such circumstances shall not have the effect of rendering the provision in question inoperative or unenforceable in any other case or circumstance, or of rendering any other provision or provisions herein contained invalid, inoperative, or unenforceable to any extent whatsoever. If any provision of this Agreement shall be adjudged to be excessively broad as to duration, geographical scope, activity or subject, the Parties intend that such provision shall be deemed modified to the minimum degree necessary to make such provision valid and enforceable under applicable law and that such modified provision shall thereafter be enforced to the fullest extent possible.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 4.5</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Remedies</font><font style="font-family:inherit;font-size:11pt;">.  The Parties agree that money damages or another remedy at law would not be a sufficient or adequate remedy for any breach or violation of, or a default under, this Agreement by them and that, in addition to all other remedies available to them, each of them shall be entitled to an injunction restraining such breach, violation or default or threatened breach, violation or default and to any other equitable relief including specific performance without bond or other security being required.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 4.6</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">No Third Party Beneficiaries</font><font style="font-family:inherit;font-size:11pt;">.  Nothing in this Agreement, express or implied, is intended or shall be construed to give any person other than the Parties (including any permitted transferees that hereafter become Parties in accordance with </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 2.8</font><font style="font-family:inherit;font-size:11pt;">) to this Agreement, or any of their respective successors and permitted assigns any legal or equitable right, remedy or claim under or in respect of any agreement or provision contained herein.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 4.7</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Counterparts</font><font style="font-family:inherit;font-size:11pt;">.  This Agreement may be executed in several counterparts (including by facsimile, .pdf or other electronic transmission), each of which shall be deemed an original and all of which shall together constitute one and the same instrument.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 4.8</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Notices</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Any notice or other communication in connection with this Agreement (each, a &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Notice</font><font style="font-family:inherit;font-size:11pt;">&#8221;) shall be:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">in writing in English; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">delivered by hand, fax, email or other electronic transmission, registered post or by courier using a nationally recognized overnight delivery or courier company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Notices to the Company shall be sent to at the following address, or such other person or address as the Company may notify to the stockholders from time to time:</font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Par Pacific Holdings, Inc.</font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">825 Town and Country Lane, Suite 1500</font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Houston, Texas 77024</font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Facsimile:  (832) 518-5203</font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Attention:  James Matthew Vaughn</font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Email: mvaughn@parpacific.com</font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">with a copy to:</font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Porter Hedges LLP</font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1000 Main Street, 36</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">th</sup></font><font style="font-family:inherit;font-size:11pt;">&#32;Floor</font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Houston, Texas 77002</font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Facsimile: (713) 228-1331</font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Attention: E. James Cowen</font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">E-mail: jcowen@porterhedges.com</font></div><div style="line-height:120%;text-align:justify;padding-left:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Notices to the Holders shall be sent to such Holders at the addresses set forth on each Holder&#8217;s signature page hereto or as provided on any Joinder Signature Page, as applicable, or such other addresses as the applicable Holder may notify the Company in writing from time to time in accordance with this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 4.8</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">A Notice shall be effective upon receipt and shall be deemed to have been received:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">at the time of delivery, if delivered by hand, registered post or courier; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">at the expiration of two (2) hours after completion of the transmission, if sent by electronic transmission;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that if a Notice would become effective under the above provisions after 5:30 p.m. on any Business Day, then it shall be deemed instead to become effective at 9:30 a.m. on the next Business Day. References in this Agreement to time are to local time at the location of the addressee as set out in the Notice.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">Subject to the foregoing provisions of this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 4.8</font><font style="font-family:inherit;font-size:11pt;">, in proving service of a Notice, it shall be sufficient to prove that the envelope containing such Notice was properly addressed and delivered by hand, registered post, overnight delivery service or courier to the relevant address pursuant to the above provisions or that the electronic transmission report (call back verification) states that the communication was properly sent or an e-mail was timely and properly sent attaching a copy of the subject notice as a .pdf.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 4.9</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Governing Law and Venue; Waiver of Jury Trial</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">THIS AGREEMENT AND ANY ACTIONS, CAUSE OF ACTION, CLAIM, CONTROVERSY OR DISPUTE OF ANY KIND (WHETHER AT LAW, IN EQUITY, IN CONTRACT, IN TORT OR OTHERWISE) THAT MAY BE BASED UPON, ARISE OUT OF, OR RELATE TO THIS AGREEMENT, OR THE NEGOTIATION, EXECUTION, OR PERFORMANCE OF THIS AGREEMENT OR THE RIGHTS, DUTIES AND RELATIONSHIP OF THE PARTIES, SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, EXCLUDING ANY CONFLICTS OF LAW, RULE OR PRINCIPLE THAT MIGHT REFER CONSTRUCTION OF PROVISIONS TO THE LAWS OF ANOTHER JURISDICTION. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">ANY ACTION, SUIT OR PROCEEDING SEEKING TO ENFORCE ANY PROVISION OF, OR BASED ON ANY MATTER ARISING OUT OF OR IN CONNECTION WITH, THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY SHALL </font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">ONLY BE BROUGHT IN ANY FEDERAL COURT LOCATED IN THE STATE OF DELAWARE OR ANY DELAWARE STATE COURT, AND EACH PARTY CONSENTS TO THE EXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS (AND OF THE APPROPRIATE APPELLATE COURTS THEREFROM) IN ANY SUCH ACTION, SUIT OR PROCEEDING AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH, ACTION, SUIT OR PROCEEDING IN ANY SUCH COURT OR THAT ANY SUCH ACTION, SUIT OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM; PROVIDED, HOWEVER, THAT ANY ACTION, SUIT OR PROCEEDING, SEEKING TO ENFORCE A FINAL JUDGMENT RENDERED IN SUCH COURT MAY BE BROUGHT IN ANY COURT OF COMPETENT JURISDICTION. PROCESS IN ANY SUCH ACTION, SUIT OR PROCEEDING MAY BE SERVED ON ANY PARTY ANYWHERE IN THE WORLD, WHETHER WITHIN OR WITHOUT THE JURISDICTION OF ANY SUCH COURT. WITHOUT LIMITING THE FOREGOING, SERVICE OF PROCESS ON SUCH PARTY AS PROVIDED IN </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">SECTION 4.8</font><font style="font-family:inherit;font-size:11pt;">&#32;SHALL BE DEEMED EFFECTIVE SERVICE OF PROCESS ON SUCH PARTY.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY DISPUTE, CONTROVERSY OR CLAIM THAT MAY ARISE OUT OF OR RELATING TO THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY EXPRESSLY, IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION OR DISPUTE DIRECTLY OR INDIRECTLY BASED UPON OR ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER AGREEMENTS RELATING HERETO OR ANY DEALINGS AMONG THEM RELATING TO THE TRANSACTIONS CONTEMPLATED HEREBY. THE SCOPE OF THIS WAIVER IS INTENDED TO ENCOMPASS ANY AND ALL ACTIONS, SUITS AND PROCEEDINGS THAT RELATE TO THE SUBJECT MATTER OF THE TRANSACTIONS CONTEMPLATED HEREBY, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY REPRESENTS AND ACKNOWLEDGES THAT (i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ACTION, SUIT OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY AND (iv) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND REPRESENTATIONS IN THIS </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">SECTION 4.9</font><font style="font-family:inherit;font-size:11pt;">.  IN THE EVENT OF LITIGATION THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 4.10</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Independent Nature of Each Holder&#8217;s Obligations and Rights</font><font style="font-family:inherit;font-size:11pt;">. The obligations of each Holder under this Agreement are several and not joint with the obligations of any other Holder, and each Holder shall not be responsible in any way for the performance of the obligations of any other Holder under this Agreement. Nothing contained herein and no action taken by any Holder pursuant hereto, shall be deemed to constitute such Holders as a partnership, an association, a joint venture, or any other kind of entity, or create a presumption that the Holders are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement. Each Holder shall be entitled to independently protect and enforce its rights, including the rights arising out of this Agreement, and it shall not be necessary for any other Holder to be joined as an additional party in any proceeding for such purpose.</font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">18</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">(This space intentionally left blank)</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><br></div><div><div style="line-height:100%;text-align:left;text-indent:312px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><a name="sCA8FC9700F4CB1E2DA2BAEEEB7A9A2A5"></a></div><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font 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style="font-family:inherit;font-size:12pt;">Title: Chief Financial Officer</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">[Signature Page to Registration Rights Agreement]</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:6pt;">\\NY - 047961/000001 - 9107327 v8</font><font style="font-family:inherit;font-size:12pt;">&#32;</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6787899v2</font></div></div><hr style="page-break-after:always"><div><a name="s8539A3C4C732BC00E88FAEEEB7B12F76"></a></div><div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style='display:inline-block; width:100%;'><div style='float:left; width:48%;'><div style="line-height:120%;text-align:center;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:18%;"></td><td style="width:30%;"></td><td style="width:9%;"></td><td style="width:11%;"></td><td style="width:32%;"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:11pt;"><font 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style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By:</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/ Tony W. Lee</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Attention:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Name:</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Tony W. 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<div><a name="s5B5DB9234F8DC1AAF438AF01A30CCEB4"></a></div><div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:144%;text-align:left;"><img src="ex991parriesclosingre_image1.gif" alt="ex991parriesclosingre_image1.gif" style="height:73px;width:240px;"></div><div style="line-height:144%;text-align:right;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-style:italic;font-weight:bold;">NEWS RELEASE</font></div><div style="line-height:138%;text-align:left;padding-left:48px;font-size:16pt;"><font style="font-family:inherit;font-size:16pt;font-weight:bold;">FOR IMMEDIATE RELEASE</font></div><div style="line-height:138%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:16pt;"><font style="font-family:Calibri,sans-serif;font-size:16pt;font-weight:bold;">Par Pacific Successfully Closes Transaction with Island Energy Services </font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:138%;text-align:justify;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;font-weight:bold;">HOUSTON &#8211; December 19, 2018 &#8211; Par Pacific Holdings, Inc. (NYSE: PARR) (&#8220;Par Pacific&#8221;) </font><font style="font-family:Calibri,sans-serif;font-size:11pt;">today announced that it has successfully closed its acquisition of certain refining assets from an affiliate of Island Energy Services (&#8220;IES&#8221;), a privately-held energy company located in Oahu, Hawaii.  On August 29, 2018, IES announced it would cease its refining operations, shifting its focus to logistics and retail operations.  Par Pacific paid $45 million for the refining assets plus additional amounts for certain hydrocarbon and non-hydrocarbon inventory. </font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:138%;text-align:justify;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;">&#8220;We are pleased to welcome approximately 80 IES employees to the Par Pacific family and look forward to working with them on a successful integration,&#8221; said William Pate, President and CEO, Par Pacific. &#8220;As the owner and operator of Hawaii&#8217;s largest refinery, we recognize our important role in meeting the island demand for essential petroleum products. Par Pacific is proud to assist in supplying Hawaii&#8217;s energy needs and supporting the state&#8217;s transition to its clean energy goals.&#8221; </font></div><div style="line-height:138%;text-align:justify;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:138%;text-align:justify;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;">The acquired refining assets are located near Par Pacific&#8217;s current Kapolei refinery and will be utilized by Par Pacific to supplement its existing operations as well as to supply product to IES so that IES may fulfill its contractual obligations with Hawaiian Electric Company and its affiliates and the Kauai Island Utility Cooperative. As part of the transaction, Par Pacific has entered into a long-term agreement with IES to utilize IES&#8217; retained logistics assets for the storage and throughput of crude oil and refined products necessary for the operation of the acquired refining assets.</font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;font-weight:bold;text-decoration:underline;">About Par Pacific </font></div><div style="line-height:138%;text-align:justify;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;">Par Pacific Holdings, Inc. (NYSE: PARR), headquartered in Houston, Texas, owns and operates market-leading energy and infrastructure businesses.  Par Pacific&#8217;s strategy is to acquire and develop energy and infrastructure businesses in logistically complex markets.  Par Pacific owns and operates one of the largest energy networks in Hawaii with 148,000-bpd of combined refining capacity, a logistics system supplying the major islands of the state and 91 retail locations.  In the Pacific Northwest and the Rockies, Par Pacific owns and operates an 18,000-bpd refinery, a logistics system and 33 retail locations.  Par Pacific also owns 46% of Laramie Energy, LLC, a natural gas production company with operations and assets concentrated in Western Colorado.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;font-weight:bold;text-decoration:underline;">Forward-Looking Statements</font></div><div><br></div><div><div style="line-height:138%;text-align:center;font-size:10pt;"><font style="font-family:Calibri,sans-serif;font-size:10pt;">- more -</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:138%;text-align:justify;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;">This press release includes certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements related to the IES acquisition are forward-looking statements. Additionally, forward looking statements are subject to certain risks, trends, and uncertainties. Par Pacific cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct.  Should one of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date.  Par Pacific does not intend to update or revise any forward-looking statements made herein or any other forward-looking statements as a result of new information, future events or otherwise. Par Pacific further expressly disclaims any written or oral statements made by a third party regarding the subject matter of this news release. </font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;"><br></font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;font-weight:bold;">Investor Relations Contact</font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;">Suneel Mandava</font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><a style="font-family:Arial;font-size:11pt;color:#0000ff;text-decoration:underline;" href="#"><font style="font-family:Arial;font-size:11pt;color:#0000ff;text-decoration:underline;">smandava@parpacific.com</font></a></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:Calibri,sans-serif;font-size:11pt;">Tel: 713.969.2136</font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;"><br></font></div></div>	</body>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
