PROJECT
      DEVELOPMENT AND CONSULTING AGREEMENT

    


    THIS
      PROJECT DEVELOPMENT AND CONSULTING AGREEMENT ("Agreement")
      is entered into as of this 1st day of September 2007 ("Effective Date"), by
      and
between
      Keith Parrish, an individual ("Parrish"), and East Coast Ethanol, LLC (the
      "Company"), a Delaware limited liability company.

    


    WHEREAS,
      the
      Company desires to engage Parrish for the purpose of providing project
development
      and consulting services to the Company relating to the Company's development,
      construction
      and ownership of four (4) 100 million gallon per year dry mill ethanol plants
      to
      be located in
      the
      southeastern United States (the "Project" or "Ethanol Plants"); and

    


    WHEREAS,
      Parrish
      desires to provide such services to the Company in exchange for
      compensation;

    


    WHEREAS,
      the
      Company's Board of Directors (the "Board") desires to memorialize the agreement
      between the Company and Parrish for the purpose of setting forth the manner
      in
      which Parrish shall render services to the Company and the manner in which
      the
      Company shall pay compensation to Parrish for such services.

    


    NOW,
      THEREFORE, in
      consideration of the mutual covenants and agreements set forth herein,
      and for other good and valuable consideration, the receipt of which is hereby
      acknowledged, the
      parties hereby agree as follows:

    


    1.  DEVELOPMENT
      and CONSULTING SERVICES. Company
      hereby retains Parrish for the
      purpose of providing developmental and consulting services with respect to
      the
      Project throughout
      the construction and initial start-up period ("Development and Consulting
      Services"). Development
      and Consulting Services shall include all services performed on behalf of and
      at
      the reasonable
      request of the Company from the Effective Date of this Agreement through its
      termination.
      Parrish's duties shall include, but not be limited to, responsibility for public
      relations relating
      to the Company's communications concerning the Company's activities in North
      Carolina, apprising
      the Board of the status of the Project and in particular of the status of the
      North Carolina facility and of any material events and assisting the Company's
      Board in developing policies regarding development and construction of the
      Project and coordinating any and all development activities
      relating to the Company's development of the North Carolina ethanol plant.
      Development and
      Consulting Services shall not include effecting or attempting to effect
      purchases or sales of the Company's
      securities.

    


    2.  COMPENSATION
      FOR DEVELOPMENT and CONSULTING SERVICES. In
      consideration solely for the Development and Consulting Services to be provided
      to Company. Company
      shall pay Parrish a development and consulting fee equal to $120,000
      ("Development and Consulting Fee"). The Development and Consulting Fee shall
      be
      paid in twelve (12) equal monthly installments
      commencing with the month of the Effective Date and continuing through the
      month
      in which
      this Agreement is terminated or until the total amount of the Development and
      Consulting Fee
      has
      been paid in full, whichever occurs earlier.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    


    3.  EXPENSES.
      Company
      shall reimburse Parrish for all reasonable, ordinary and necessary expenses
      incurred by Parrish in performance of his duties hereunder, including without
      limitation, reimbursement
      for hotel expenses, business meals, travel expenses, educational expenses,
      and
      automobile mileage at a rate per mile as periodically set by the Internal
      Revenue Service. Notwithstanding the above, Company shall reimburse Parrish
      for
      any expenses in excess of $5,000 only
      if
      such expenses were pre-approved in writing by the Company's Board of Directors
      or by the Executive
      Committee of the Board of Directors.

    


    4.  SUPPORT
      SERVICES. Company
      will provide the following support services for the benefit of Parrish, as
      approved by Company: office space, secretarial support, telephone service,
      and
      office supplies.

    


    5.
       TERM
      AND TERMINATION OF AGREEMENT. The
      term
      of this Agreement shall commence
      as of the Effective Date and shall terminate upon the earlier of any of the
      events enumerated below ("Termination Event").

    


    (a)  Payment
      in full of the Development and Consulting Fee;

    


    (b)  Dissolution,
      bankruptcy or insolvency of the Company, or the inability or failure of the
      Company generally to pay debts as they become due, or an assignment by the
      Company for
      the
      benefit of creditors, or the commencement of any case or proceeding in respect
      of the Company
      under any bankruptcy, insolvency or similar laws;

    


    (c)  Parrish's
      voluntary resignation as a member of the Board or his removal from the
Board;

    


    (d)  Mutual
      written agreement of the parties;

    


    (e)  Completion
      of one calendar year from the Effective Date; or

    


    (f)  Parrish's
      death or disability such that he is unable to perform the Development and
Consulting
      Services hereunder as determined in good faith by the Company's Board
of
      Directors.

    


    6.
       INDEMNIFICATION.
      The
      Company shall indemnify, defend against and advance to Parrish
      all expenses actually and reasonably incurred in connection with the defense
      of
      any threatened,
      pending or completed action, suit or proceeding, whether civil, criminal,
      administrative, arbitrative
      or investigative (a "Proceeding"), in which Parrish is made a party by reason
      of
performing
      services for Company or acting in any manner pursuant to this Agreement, except
      that Company shall have no obligation to indemnify and defend Parrish or his
      agents for their act or omission that involves gross negligence, intentional
      misconduct or a known violation of the law. Parrish
      shall indemnify and defend Company and its employees, members, directors,
      officers and agents
      against expenses actually and reasonably incurred in connection with the defense
      of any Proceeding
      in which Company and/or its employees, members, directors, officers or agents
      are made
      a
      party by reason of Parrish committing an act or omission that involves gross
      negligence, intentional misconduct or a known violation of the law.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    


    7. DEFAULT.
      In
      the
      event of the failure of either of the parties to comply with any of the
terms
      and
      provisions of this Agreement, or in the event either party has violated any
      of
      the warranties
      and representations made herein by that party, then such party shall be deemed
      to be in default
      hereunder and the other party shall be given written notice of such
      noncompliance and shall give
      the
      defaulting party thirty (30) days from the date of such notice within which
      to
      correct such noncompliance.
      If such default has not been corrected, or an arrangement satisfactory to the
      complaining party has not been made by the end of the notice period, then the
      complaining party may take whatever action is necessary, and exercise all
      remedies available in order to protect the complaining
      party's rights under the terms and conditions of this Agreement. The parties
      agree that the
      remedies set forth in this Section 7 shall not be exclusive, but they shall
      be
      cumulative with all other
      rights and remedies available, at law or in equity, to the parties. In the
      event
      of any dispute between the parties resulting from this Agreement or any
      provisions hereunder, the prevailing party in
      any
      such dispute shall be entitled to recover reasonable attorneys' fees and related
      costs and such other
      costs incurred therewith.

    


    8.  VENTURES/CORPORATE
      OPPORTUNITY. If
      during
      the term of this Agreement, Parrish
      is engaged in or associated with the planning or implementing of any project,
      program or venture involving the Company and a third party or parties, all
      rights in such project, program or venture shall belong to the Company. Except
      as approved in writing by the Board of Directors, Parrish shall not be entitled
      to any interest in any such project, program, or venture or to any commission,
      finder's fee or other compensation in connection therewith, other than the
      compensation
      to be paid to Parrish by the Company as provided herein. Parrish shall nave
      no
interest,
      direct or indirect, in any customer or supplier that conducts business with
      the
      Company, unless
      such interest has been disclosed in writing to and approved by the Board of
      Directors before such
      customer or supplier seeks to do business with the Company.

    


    9.  SUCCESSORS
      AND ASSIGNS BOUND. This
      Agreement shall be binding upon the Company,
      Parrish. their respective heirs, executors, administrators, successors in
      interest or permitted
      assigns, including without limitation, any partnership, corporation or other
      entity into which
      the
      Company may be merged or by which it may be acquired (whether directly,
      indirectly or by operation of law), or to which it may assign its rights under
      this Agreement.

    


    10.  RELATIONSHIP
      OF THE PARTIES. The
      parties understand that Parrish is an independent contractor
      with respect to Company, and not an employee of the Company. Company will not
      provide
      fringe benefits, including health insurance benefits, paid vacation, or any
      other employee benefits
      for the benefit of Parrish. Notwithstanding the above, should the Company's
      Board establish
      a board of directors' compensation policy, Parrish, as a director of the
      Company, may receive
      reasonable compensation for his services as a director and may be reimbursed
      for
      his expenses
      in attending Board meetings.

    


    11.  AUTHORITY.
      Each
      of
      the signatories hereto certifies that such party has all necessary authority
      to execute this Agreement.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    


    12.  AMENDMENTS.
      This
      Agreement sets forth the entire understanding of the parties and supersedes
      any
      prior agreements, oral or written, as to the subject matter hereof. This
      Agreement may
      be
      amended or modified by, and only by, a written instrument executed by the
      parties hereto.

    


    13.  ASSIGNMENT.
      This
      Agreement shall not be assigned by any party hereto except as permitted
by
      its
      express terms or upon the written consent of the other party. Nothing in this
      Agreement, express or implied, its intended to confer upon any other person
      any
      rights or remedies under or by reason of this Agreement.

    


    14.  SEVERABILITY.
      Any
      term
      or provision of this Agreement which is invalid or unenforceable in
      any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such invalidity or unenforceability
      without rendering invalid or unenforceable the remaining terms and provisions
      of
this
      Agreement, or affecting the validity or enforceability of any of the terms
      or
      provisions of this Agreement
      in any other jurisdiction.

    


    15.  WAIVER.
      The
      failure of any party hereto to insist in any one of more instances upon
performance
      of any term or condition of this Agreement shall not be construed as a waiver
      of
future
      performance of any such term, covenant or condition, but the obligation of
      such
      party with respect thereto shall continue in full force and effect.

    


    16.  CAPTIONS.
      The
      captions herein are inserted for convenience of reference only and shall be
      ignored
      in the construction or interpretation hereof.

    


    17.  NOTICES.
      Any
      notice required to be given hereunder shall be in writing and shall be deemed
      to
      be sufficiently served by either party on the other party if such notice is
      delivered personally or is
      sent
      by certified or first class mail addressed as follows:

    


    
      	
              To
                Parrish:

            	 	Keith Parrish
	 	 	 
	
              To
                Company:

            	 	East Coast Ethanol, LLC
              c/o
                Brown Winick PLC

              Attention:
                Valerie D. Bandstra

              666
                Grand Avenue, Suite 2000

              Des
                Moines, Iowa 50309

            


    

     

    18.  GOVERNING
      LAW. This
      Agreement shall be governed and construed in accordance with the law
      of
      the State of Georgia without reference to its conflict of law rules. Each of
      the
      parties hereto irrevocably
      submits to the jurisdiction of any state or federal court sitting in the State
      of Georgia in any
      action or proceeding brought to enforce or otherwise arising out of or relating
      to this Agreement.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    


    19.  INTERPRETATION.
      The
      parties agree that each has had an opportunity to negotiate fully the
terms
      of
      this Agreement and that this Agreement shall not be interpreted in favor of
      or
      against the party drafting the Agreement.

    


    IN
      WITNESS WHEREOF, the parties have duly executed this Agreement as of the date
      first above
      written.

     

    
      	 	 	 	EAST
              COAST
              ETHANOL, LLC
	 	 	 	 
	/s/ Keith
              Parrish	 	
               By:
                 

            	/s/ Randy
              D.
              Hudson   
	
              
Keith
              Parrish, Individually	 	 	
              
Dr.
              Randy Hudson, Chairman