0000950134-04-016446 Sample Contracts

TWO-YEAR TERM AND PERFORMANCE VESTING FORM] HOLLY CORPORATION EXECUTIVE RESTRICTED STOCK AGREEMENT
Restricted Stock Agreement • November 5th, 2004 • Holly Corp • Petroleum refining • Texas

This Restricted Stock Agreement (the “Agreement”) is made and entered into by and between HOLLY CORPORATION, a Delaware corporation (the “Company”), and (the “Executive”). If the Executive presently is or subsequently becomes employed by a subsidiary of the Company, the term “Company” shall be deemed to refer collectively to the Company and the subsidiary or subsidiaries which employ the Executive. This Agreement is entered into as of the day of , (the “Date of Grant”).

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THREE-YEAR FORM] HOLLY CORPORATION PERFORMANCE SHARE UNIT AGREEMENT
Performance Share Unit Agreement • November 5th, 2004 • Holly Corp • Petroleum refining • Texas

This Performance Share Unit Agreement (the “Agreement”) is made and entered into by and between HOLLY CORPORATION, a Delaware corporation (the “Company”), and (the “Employee”). If the Employee presently is or subsequently becomes employed by a subsidiary of the Company, the term “Company” shall be deemed to refer collectively to the Company and the subsidiary or subsidiaries which employ the Employee. This Agreement is entered into as of the day of , (the “Date of Grant”).

FORM] HOLLY CORPORATION DIRECTOR RESTRICTED STOCK AGREEMENT
Restricted Stock Agreement • November 5th, 2004 • Holly Corp • Petroleum refining • Texas

This Restricted Stock Agreement (the “Agreement”) is made and entered into by and between HOLLY CORPORATION, a Delaware corporation (the “Company”), and (the “Director”). This Agreement is entered into as of the day of , (the “Date of Grant”).

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