**Exhibit 10.20****AGASSIZ ENERGY, LLC****CODE OF ETHICS FOR SENIOR FINANCIAL OFFICERS**     At Agassiz Energy, LLC (“Agassiz “ or the “Company”) the honesty, integrity and sound judgmentof Agassiz ’s senior financial officers, which includes Agassiz ’s chief executive officer, chieffinancial officer or controller and other persons performing similar functions (the “SeniorFinancial Officers”), is fundamental to the financial reporting process and the reputation andsuccess of Agassiz . Agassiz ’s Senior Financial Officers hold an important and elevated role incorporate governance in that they are uniquely capable and empowered to ensure that allstakeholders’ interests are appropriately balanced, protected and preserved. Because of thisspecial role, each of the Senior Financial Officers agrees to be bound by this Code of Ethics forSenior Financial Officers and each agrees that he or she will: i. Act with honesty and integrity and ethically handle actual orapparent conflicts of interest in personal and professional relationshipsinvolving Agassiz or its business.  ii. Provide information that is accurate, complete, objective,relevant, timely and understandable to ensure full, fair, accurate, timely andunderstandable disclosure in reports and documents that Agassiz files with, orsubmits to, government agencies, including the Securities and ExchangeCommission (the “SEC”) and in other public communications.  iii. Comply with applicable laws, rules and regulations of federal,state, provincial and local governments, and other appropriate private andpublic regulatory agencies, affecting Agassiz’s business and its conduct inbusiness matters.  iv. In all matters affecting Agassiz’s business and its conduct inbusiness matters, act in good faith, responsibly, with due care, competence anddiligence, without misrepresenting material facts or allowing his/herindependent judgment to be subordinated.  v. Respect the confidentiality of information acquired in thecourse of his/her work for Agassiz except when authorized or otherwise legallyobligated to disclose. Confidential information acquired in the course ofhis/her work for Agassiz shall not be used for personal advantage.  vi. Proactively promote and be an example of ethical behavior as aresponsible partner among peers in Agassiz’s working environment.  vii. Achieve responsible use of and control over all Agassiz assetsand resources employed or entrusted to him/her.     Each of the Senior Financial Officers are expected to adhere to this Code of Ethics for SeniorFinancial Officers at all times. Any violations of either of these Codes shall be promptlyreported. If any Senior Financial Officer is found to be in violation of this Code of Ethics for
 

 
Senior Financial Officers, such person will be subject to disciplinary action, which mayinclude termination of employment. It is against Agassiz policy to retaliate against any employeefor good faith reporting of violations of this Code of Ethics for Senior Financial Officers.     The Board of Governors (or, if permitted under applicable SEC rules), and so appointed by theBoard of Governors, the Audit Committee of the Board of Governors) shall have the solediscretionary authority to approve any amendment to or waiver of this Code of Ethics for SeniorFinancial Officers. Any such amendment to or waiver of this Code of Ethics for Senior FinancialOfficers shall be publicly disclosed in the manner specified by SEC rules.     This Code of Ethics for Senior Financial Officers has been adopted by the Board of Governorsof Agassiz Energy, LLC, effective April 16, 2007.
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