Attached files
| file | filename |
|---|---|
| EX-10.24 - EX-10.24 - Calumet Specialty Products Partners, L.P. | h75920exv10w24.htm |
| 8-K - FORM 8-K - Calumet Specialty Products Partners, L.P. | h75920e8vk.htm |
Exhibit 10.25
AMENDMENT NO. 4 TO CRUDE OIL SUPPLY AGREEMENT
THIS AMENDMENT NO. 4 TO CRUDE OIL SUPPLY AGREEMENT (the “Amendment”), dated as of August 30,
2010 but effective as of September 1, 2010 (the “Amendment Effective Date”), is made by and between
CALUMET LUBRICANTS CO., LIMITED PARTNERSHIP, an Indiana limited partnership (“Customer”), and
LEGACY RESOURCES CO., L.P., an Indiana limited partnership (“Supplier”). Each of Customer and
Supplier is sometimes referred to hereinafter individually as a “Party” and they are collectively
referred to as the “Parties.”
RECITALS
WHEREAS, Customer owns and operates a refinery in Princeton, Louisiana (the “Refinery”) for
the processing and refining of crude oil into specialty lubricating oils and other refined
products;
WHEREAS, Supplier is able to obtain certain commodities, including crude oil, from various
supply sources;
WHEREAS, the Parties entered into that certain Crude Oil Supply Agreement (the “Agreement”)
dated as of April 30, 2008 and as subsequently amended, whereby Customer agreed to purchase from
Supplier, and Supplier agreed to sell and supply to Customer, crude oil on a just in time basis in
order to meet the inventory requirements of the Refinery; and
WHEREAS, pursuant to Section 5 of the Agreement, the Parties desire to amend certain
provisions of the Agreement as of the Amendment Effective Date.
AMENDMENT TO AGREEMENT
NOW, THEREFORE, in consideration of the foregoing recitals and the agreements contained
herein, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties, intending to be legally bound, do hereby agree to amend the
Agreement as of the Amendment Effective Date as follows:
| 1. | Defined Terms. The definitions of the following capitalized terms used in the Agreement are deleted and replaced in their entirety with the following definitions: |
“Average Purchase Price” means the sum of (i) the monthly average per barrel price
quoted for the first nearby month for West Texas Intermediate crude oil on the New York
Mercantile Exchange and (ii) $3.30 per barrel, or such other price as may be agreed by the
Parties in accordance with Section 5.
“Premium” means the amount calculated in accordance with the table set forth on
Amendment No. 4 Exhibit A attached hereto.
| 2. | All other terms and conditions of the Agreement are unchanged and remain in full force and effect as of the Amendment Effective Date. |
[Signature Page Follows]
IN WITNESS WHEREOF, the Parties have executed this Amendment as of the date first above
written, but effective as of September 1, 2010.
| CALUMET LUBRICANTS CO., LIMITED PARTNERSHIP |
||||
| By: | Calumet LP GP, LLC, its general partner | |||
| By: | Calumet Operating, LLC, its sole member | |||
| By: | Calumet Specialty Products Partners, L.P., its sole member |
|||
| By: | Calumet GP, LLC, its general partner | |||
| By: | /s/ R. Patrick Murray, II | |||
| Name: | R. Patrick Murray, II | |||
| Title: | Vice President & CFO | |||
| LEGACY RESOURCES CO., L.P. |
||||
| By: | Legacy Acquisitions, Inc., its general partner | |||
| By: | /s/ Mark F. Smith | |||
| Name: | Mark F. Smith | |||
| Title: | President | |||
AMENDMENT NO. 4 EXHIBIT A
| Average Purchase Price | Premium per Barrel | |
| (as defined) | for Month of Delivery | |
| $30.00 — $39.99 | $0.87 | |
| $40.00 — $49.99 | $1.00 | |
| $50.00 — $59.99 | $1.12 | |
| $60.00 — $69.99 | $1.25 | |
| $70.00 — $79.99 | $1.37 | |
| $80.00 — $89.99 | $1.49 | |
| $90.00 — $99.99 | $1.62 | |
| $100.00 — $109.99 | $1.74 | |
| $110.00 — $119.99 | $1.86 | |
| $120.00 — $129.99 | $1.99 | |
| $130.00 — $139.99 | $2.11 | |
| $140.00 — $149.99 | $2.23 | |
| $150.00 — $159.99 | $2.36 | |
| $160.00 — $169.99 | $2.48 |