Document:

exv10w3

Exhibit 10.3

EXECUTION VERSION

 

AMENDED AND RESTATED ACCOUNTS AGREEMENT

dated as of June 16, 2010

among

ABE SOUTH DAKOTA, LLC,

as the Borrower,

AMARILLO NATIONAL BANK,

as the Accounts Bank and the Securities Intermediary,

WESTLB AG, NEW YORK BRANCH,

as the Collateral Agent for the Senior Secured Parties,

and

WESTLB AG, NEW YORK BRANCH,

as the Administrative Agent for the Lenders

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I DEFINITIONS AND INTERPRETATION
	 	 	3	 
	Section 1.01 Defined Terms
	 	 	3	 
	Section 1.02 Principles of Interpretation
	 	 	9	 
	Section 1.03 Credit Agreement and UCC Definitions
	 	 	10	 
	Section 1.04 Accounting and Financial Determinations
	 	 	10	 
	 
	 	 	 	 
	ARTICLE II APPOINTMENT; GRANT OF SECURITY INTEREST
	 	 	10	 
	Section 2.01 Appointment by Collateral Agent
	 	 	10	 
	Section 2.02 Limitation of Liability
	 	 	11	 
	Section 2.03 Project Accounts
	 	 	11	 
	Section 2.04 Representations, Warranties and Covenants of Accounts Bank
	 	 	12	 
	Section 2.05 Project Accounts as Deposit Account
	 	 	15	 
	Section 2.06 Grant of First-Priority Security Interest
	 	 	15	 
	Section 2.07 Control and Perfection of Account Collateral
	 	 	16	 
	Section 2.08 Subordination
	 	 	16	 
	Section 2.09 Agreement to Hold In Trust
	 	 	17	 
	 
	 	 	 	 
	ARTICLE III PROJECT ACCOUNTS
	 	 	18	 
	Section 3.01 Establishment of Project Accounts
	 	 	18	 
	Section 3.02 Deposits into and Withdrawals from Project Accounts
	 	 	19	 
	 
	 	 	 	 
	ARTICLE IV REVENUE ACCOUNT
	 	 	21	 
	Section 4.01 Revenue Account
	 	 	21	 
	 
	 	 	 	 
	ARTICLE V OPERATING ACCOUNT
	 	 	26	 
	Section 5.01 Operating Account
	 	 	26	 
	 
	 	 	 	 
	ARTICLE VI MAINTENANCE CAPITAL EXPENSE ACCOUNT
	 	 	27	 
	Section 6.01 Maintenance Capital Expense Account
	 	 	27	 
	 
	 	 	 	 
	ARTICLE VII WORKING CAPITAL RESERVE ACCOUNT
	 	 	27	 
	Section 7.01 Working Capital Reserve Account
	 	 	27	 
	Section 7.02 Huron Rail Project Sub-Account
	 	 	28	 
	 
	 	 	 	 
	ARTICLE VIII DEBT SERVICE RESERVE ACCOUNT
	 	 	29	 
	Section 8.01 Debt Service Reserve Account
	 	 	29	 
	Section 8.02 Debt Service Letter of Credit
	 	 	30	 
	Section 8.03 Excess in Debt Service Reserve Account
	 	 	31	 
	 
	 	 	 	 
	ARTICLE IX INSURANCE AND CONDEMNATION PROCEEDS ACCOUNTS
	 	 	32	 
	Section 9.01 Insurance and Condemnation Proceeds Accounts
	 	 	32	 
	 
	 	 	 	 
	ARTICLE X EXTRAORDINARY PROCEEDS ACCOUNT
	 	 	35	 

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	 	 	Page	 
	Section 10.01 Extraordinary Proceeds Account
	 	 	35	 
	 
	 	 	 	 
	ARTICLE XI GENERAL PROVISIONS RELATING TO THE PROJECT ACCOUNTS
	 	 	37	 
	Section 11.01 No Security Interests
	 	 	37	 
	Section 11.02 Borrower Acknowledgments
	 	 	37	 
	Section 11.03 Further Assurances
	 	 	37	 
	Section 11.04 UCC Termination Statements
	 	 	39	 
	 
	 	 	 	 
	ARTICLE XII INTEREST AND INVESTMENTS
	 	 	39	 
	Section 12.01 Investments
	 	 	39	 
	Section 12.02 Sale and Liquidation
	 	 	40	 
	Section 12.03 Interest and Investment Income
	 	 	40	 
	Section 12.04 Accounts Information
	 	 	41	 
	 
	 	 	 	 
	ARTICLE XIII DEFAULT AND ENFORCEMENT
	 	 	42	 
	Section 13.01 Notices of Suspension of Project Accounts
	 	 	42	 
	Section 13.02 Collateral Agent Appointed Attorney-in-Fact
	 	 	42	 
	Section 13.03 Enforcement
	 	 	44	 
	Section 13.04 Application of Proceeds
	 	 	46	 
	Section 13.05 Collateral Agent’s Discretionary Powers
	 	 	46	 
	Section 13.06 Regarding the Collateral Agent and the Administrative Agent
	 	 	46	 
	 
	 	 	 	 
	ARTICLE XIV THE ACCOUNTS BANK
	 	 	47	 
	Section 14.01 Duties of the Accounts Bank and Securities Intermediary
	 	 	47	 
	Section 14.02 Exculpatory Provisions
	 	 	48	 
	Section 14.03 Reliance by Accounts Bank
	 	 	49	 
	Section 14.04 Written Instructions; Notices
	 	 	50	 
	Section 14.05 Resignation or Removal of Accounts Bank
	 	 	50	 
	Section 14.06 No Amendment to Duties of Accounts Bank Without Consent
	 	 	52	 
	 
	 	 	 	 
	ARTICLE XV REPRESENTATIONS AND WARRANTIES
	 	 	52	 
	Section 15.01 Representations and Warranties
	 	 	52	 
	 
	 	 	 	 
	ARTICLE XVI MISCELLANEOUS
	 	 	53	 
	Section 16.01 Termination
	 	 	53	 
	Section 16.02 Amendments, Etc
	 	 	53	 
	Section 16.03 Applicable Law; Jurisdiction; Etc
	 	 	54	 
	Section 16.04 Assignments
	 	 	56	 
	Section 16.05 Benefits of Accounts Agreement
	 	 	56	 
	Section 16.06 Costs and Expenses
	 	 	56	 
	Section 16.07 Counterparts; Effectiveness
	 	 	57	 
	Section 16.08 Indemnification by the Borrower
	 	 	57	 
	Section 16.09 No Waiver; Cumulative Remedies
	 	 	58	 
	Section 16.10 Conflicting Instructions
	 	 	58	 
	Section 16.11 Notices and Other Communications
	 	 	59	 
	Section 16.12 Patriot Act Notice
	 	 	61	 
	Section 16.13 Severability
	 	 	61	 

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	 	 	Page	 
	Section 16.14 Survival
	 	 	61	 
	Section 16.15 Waiver of Consequential Damages, Etc
	 	 	62	 
	Section 16.16 Waiver of Litigation Payments
	 	 	62	 
	Section 16.17 Bond Trustee
	 	 	62	 

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	EXHIBITS
	 	 
	 
	 	 
	Exhibit A

	 	Form of Revenue Account Withdrawal Certificate
	Exhibit B

	 	Form of Operating Account Withdrawal Certificate
	Exhibit C

	 	Form of Maintenance Capital Expense Transfer Certificate
	Exhibit D

	 	Form of Working Capital Reserve Transfer Certificate
	Exhibit E

	 	Form of Debt Service Reserve Release Certificate
	Exhibit F

	 	Form of Insurance and Condemnation Proceeds Request Certificate
	Exhibit G

	 	Form of Extraordinary Proceeds Release Certificate
	Exhibit H

	 	Form of Restricted Payment Certificate
	Exhibit I

	 	Form of Huron Rail Project Withdrawal Certificate
	Exhibit J

	 	Form of Independent Engineer’s Certificate
	Exhibit K

	 	Form of Lien Waiver Statement

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     THIS AMENDED AND RESTATED ACCOUNTS AGREEMENT, dated as of June 16, 2010, (this “Accounts
Agreement”), is entered into by and among ABE SOUTH DAKOTA, LLC, (f/k/a Heartland Grain Fuels,
L.P.) a Delaware limited liability company (the “Borrower”), AMARILLO NATIONAL BANK, in its
capacity as accounts bank (together with its successors and assigns in such capacity, the
“Accounts Bank”) and in its capacity as securities intermediary (together with its
successors and assigns in such capacity, the “Securities Intermediary”), WESTLB AG, NEW
YORK BRANCH, in its capacity as collateral agent for the Senior Secured Parties (as defined below)
(together with its successors and assigns in such capacity, the “Collateral Agent”), WESTLB
AG, NEW YORK BRANCH, in its capacity as administrative agent for the Lenders (together with its
successors and assigns in such capacity, the “Administrative Agent”).

RECITALS

     WHEREAS, pursuant to a Senior Credit Agreement, dated as of October 1, 2007 (the “Original
Credit Agreement”), among the Borrower, each of the lenders party thereto (the “Original
Lenders”), the Administrative Agent, the Collateral Agent, WestLB AG, New York Branch, as
issuing bank with respect to the letters of credit, and WestLB AG, New York Branch, as lead
arranger, sole bookrunner and syndication agent, the Original Lenders made certain construction,
term and working capital loans (the “Original Loans”) to the Borrower to, among other
things, (a) refinance existing indebtedness of the Borrower with respect to the operating ethanol
plant of the Borrower located in Huron, South Dakota, producing approximately thirty (30) million
gallons-per-year of denatured ethanol, together with distillers grains, and the operating ethanol
plant of the Borrower located in Aberdeen, South Dakota, producing approximately nine (9) million
gallons-per-year of denatured ethanol, together with distillers grains, (b) to finance the
ownership, development, engineering, construction, testing and operation of an expansion ethanol
plant located at the same Site in Aberdeen, South Dakota, which plant has been constructed and is
producing approximately forty (40) million gallons-per-year of denatured ethanol, together with
distillers grains and (c) to provide for the Borrower’s working capital needs;

     WHEREAS, as required under the Original Credit Agreement, the Borrower entered into that
certain Assignment and Security Agreement, dated as of October 1, 2007 (the “Original Security
Agreement”), between the Borrower and the Collateral Agent, and granted to the Collateral
Agent, for the benefit of the Senior Secured Parties (as defined in the Original Credit Agreement),
a security interest in all assets of the Grantor as security for the repayment of the Obligations
(as such term is defined in the Original Credit Agreement) of the Borrower under the Original
Credit Agreement;

 

 

     WHEREAS, as required under the Original Credit Agreement, the Borrower entered into that
certain Accounts Agreement, dated as of October 1, 2007 (the “Original Accounts
Agreement”), by and among the Borrower, the Accounts Bank, the Securities Intermediary, the
Collateral Agent, the Administrative Agent, and the Second Lien Agent for the Second Lien
Claimholders (each as defined therein);

     WHEREAS, certain Events of Default have occurred under the Original Credit Agreement as a
result of the failure of the Borrower to make certain interest and principal payments on the
Original Loans;

     WHEREAS, pursuant to a Forbearance Agreement, dated on or about January 9, 2009 (the
“Forbearance Agreement”), between the Borrower, Dakota Fuels, Inc. and ABE Heartland, LLC,
as the loan parties, and the Original Lenders (as Lenders and, in certain instances, as Interest
Rate Protection Providers (as each such term is defined in the Original Credit Agreement) party
thereto, the Administrative Agent and the Collateral Agent, as the forbearing parties, such
forbearing parties agreed to forbear from exercising certain rights and remedies under the Original
Credit Agreement and the other Financing Documents (as defined in the Original Credit Agreement)
for a period to end no later than March 31, 2009;

     WHEREAS, the Forbearance Agreement has terminated pursuant to its terms, and the Borrower
remains in default under the Original Credit Agreement;

     WHEREAS, the Borrower has converted from a Delaware limited partnership into a Delaware
limited liability company;

     WHEREAS, pursuant to a Restructuring Agreement, dated as of the date hereof (the
“Restructuring Agreement”), among the Borrower, Dakota Fuels, Inc., ABE Heartland, LLC,
Advanced BioEnergy, LLC, Wells Fargo Bank, National Association, in its capacity as trustee of the
Brown County, South Dakota Subordinate Solid Waste Facilities Revenue Bonds (Heartland Grain Fuels,
L.P. Ethanol Plant Project) Series 2007A (such trustee, the “Bond Trustee” and such bonds,
the “Subordinated Bonds”), the holders of the Subordinated Bonds, Brown County, South
Dakota, as issuer of the Subordinated Bonds (the “Issuer”), the Administrative Agent, the
Collateral Agent and the Original Lenders, as of the Effective Date the parties thereto have agreed
to restructure the Original Loans and to fully cancel all outstanding obligations under the
Subordinated Loan Agreement and the other financing documents related thereto in accordance with
the terms of the Restructuring Agreement;

     WHEREAS, in accordance with the terms of the Restructuring Agreement, the Borrower, each of
the Lenders from time to time party thereto, the Administrative Agent and the Collateral Agent have
agreed to enter into the Amended and Restated

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Senior Credit Agreement, dated as of the date hereof (the “Credit Agreement”) to amend
and restate the Original Credit Agreement; and

     WHEREAS, it is a requirement under the Credit Agreement that the Borrower execute and deliver
this Accounts Agreement, which, as of the Effective Date, shall have the effect of amending and
restating the Original Accounts Agreement in its entirety upon and subject to the terms and
conditions hereinafter set forth.

AGREEMENT

     NOW, THEREFORE, in consideration of the promises contained herein, and for other good and
valuable consideration, the receipt and adequacy of which are hereby acknowledged, and intending to
be legally bound, the parties hereto hereby agree as follows:

ARTICLE I

DEFINITIONS AND INTERPRETATION

     Section 1.01 Defined Terms. The following terms when used in this Accounts Agreement,
including its preamble and recitals, shall, except where the context otherwise requires, have the
following meanings or if not provided herein, the meanings provided in the Credit Agreement, or if
not defined herein or therein, the UCC:

     “Aberdeen Insurance and Condemnation Proceeds Account” has the meaning provided in
Section 3.01(a)(vi) (Establishment of Project Accounts).

     “Account Collateral” has the meaning provided in Section 2.06 (Grant of
First-Priority Security Interest).

     “Accounts Bank” has the meaning provided in the preamble.

     “Accounts Bank Action” has the meaning provided in Section 14.04(b) (Written
Instructions; Notices).

     “Accounts Bank Fee Letter” means that certain Accounts Bank Fee Letter, dated as of
October 1, 2007, between the Accounts Bank and the Borrower, as amended and restated by that
certain Amended and Restated Accounts Bank Fee Letter, dated on or about the date hereof, setting
forth certain fees due and payable to the Accounts Bank.

     “Administrative Agent” has the meaning provided in the preamble.

3

 

     “Agents” means, collectively, the Administrative Agent, the Collateral Agent and the
Accounts Bank.

     “Bond Trustee” has the meaning provided in the eighth recital.

     “Borrower” has the meaning provided in the preamble.

     “Cash Equivalents” means:

	 	(a)	 	readily marketable direct obligations of the government of the United
States or any agency or instrumentality thereof, or obligations unconditionally
guaranteed by the full faith and credit of the government of the United States, in
each case maturing within one (1) year from the date of acquisition thereof;
	 
	 	(b)	 	securities issued by any state of the United States of America or any
political subdivision of any such state or any public instrumentality thereof
having maturities of not more than one (1) year from the date of acquisition
thereof and, at the time of acquisition, having a rating of AA- or higher from S&P
or Aa3 or higher from Moody’s (or, if at any time neither S&P nor Moody’s shall be
rating such obligations, an equivalent rating from another nationally recognized
rating service);
	 
	 	(c)	 	investments in commercial paper maturing within one hundred eighty
(180) days from the date of acquisition thereof and having, at such date of
acquisition, a rating of at least A-1 or P-1 from either S&P or Moody’s (or, if at
any time neither S&P nor Moody’s shall be rating such obligations, an equivalent
rating from another nationally recognized rating service);
	 
	 	(d)	 	investments in certificates of deposit, banker’s acceptances and time
deposits maturing within two hundred and seventy (270) days from the date of
acquisition thereof issued or guaranteed by or placed with, and money market
deposit accounts issued or offered by, the Administrative Agent or any domestic
office of any commercial bank organized under the laws of the United States of
America, any State thereof, any country that is a member of the Organisation for
Economic Co-Operation and Development or any political subdivision thereof, that
has a combined capital and surplus and undivided profits of not less than five
hundred million Dollars ($500,000,000);

4

 

	 	(e)	 	fully collateralized repurchase agreements with a term of not more
than 30 days for securities described in clause (a) above and entered into with a
financial institution satisfying the criteria of clause (d) of this definition;
and
	 
	 	(f)	 	investments in “money market funds” within the meaning of Rule 2a-7
of the Investment Company Act of 1940, as amended, substantially all of whose
assets are invested in investments of the type described in clauses (a) through
(e) of this definition.

     “Closing Fee” means an amount equal to ten thousand Dollars ($10,000) times the number
of days that have elapsed from April 1, 2010 to and including the Effective Date.

     “Collateral Agent” has the meaning provided in the preamble.

     “Credit Agreement” has the meaning provided in the ninth recital.

     “Debt Service Reserve Account” has the meaning provided in Section 3.01(a)(iv)
(Establishment of Project Accounts).

     “Debt Service Reserve Release Certificate” means a certificate in substantially the
form of Exhibit D, duly executed by an Authorized Officer of the Borrower directing the
transfer or withdrawal of funds from the Debt Service Reserve Release Certificate.

     “Effective Date” means the date on which all of the conditions set forth in Section
6.01 (Conditions to Effectiveness) of the Credit Agreement have been satisfied or waived.

     “Extraordinary Proceeds Account” has the meaning provided in Section 3.01(a)(viii)
(Establishment of Project Accounts).

     “Extraordinary Proceeds Release Certificate” means a certificate in substantially the
form of Exhibit F, duly executed by an Authorized Officer of the Borrower directing the
transfer or withdrawal of funds from the Extraordinary Proceeds Account.

     “Forbearance Agreement” has the meaning set forth in the third recital.

     “Huron Insurance and Condemnation Proceeds Account” has the meaning provided in
Section 3.01(a)(vii) (Establishment of Project Accounts).

5

 

     “Huron Rail Project” means the project for the construction of the 3 track ladder
system connecting the Huron Plant loading facility to the Canadian Pacific main line on
approximately four acres of land to the west of the Huron Plant that is capable of storing up to
ninety tank or hopper railcars.

     “Huron Rail Project Sub-Account” has the meaning provided in Section 3.01(a)(iv)
(Establishment of Project Accounts).

     “Huron Rail Project Withdrawal Certificate” means a certificate in substantially the
form of Exhibit I, duly executed by an Authorized Officer of the Borrower directing the
transfer or withdrawal of funds from the Huron Rail Project Sub- Account.

     “Indemnitee” has the meaning provided in Section 16.08 (Indemnification by the
Borrower).

     “Independent Engineer’s Certificate” means a certificate of the Independent Engineer
substantially in the form of Exhibit J.

     “Insurance and Condemnation Proceeds Accounts” means, collectively, the Aberdeen
Insurance and Condemnation Proceeds Account and the Huron Insurance and Condemnation Proceeds
Account.

     “Insurance and Condemnation Proceeds Request Certificate” means a certificate, in
substantially the form of Exhibit E, duly executed by an Authorized Officer of the
Borrower, setting forth proposed instructions for the transfer or withdrawal of Insurance Proceeds
and/or Condemnation Proceeds from an Insurance and Condemnation Proceeds Account.

     “Issuer” has the meaning provided in the eighth recital.

     “Lien Waiver Statement” means, in connection with the construction of the Huron Rail
Project, a statement evidencing receipt of payment by a contractor, subcontractor or other Person
providing work for the Huron Rail Project (i) in the form attached as Exhibit K or (ii) in
form and substance satisfactory to each of the Administrative Agent and the Independent Engineer.

     “Maintenance Capital Expense Account” has the meaning provided in Section
3.01(a)(iii) (Establishment of Project Accounts).

     “Maintenance Capital Expense Transfer Certificate” means a certificate in
substantially the form of Exhibit C, duly executed by an Authorized Officer of the

6

 

Borrower directing the transfer or withdrawal of funds from the Maintenance Capital Expense
Account.

     “Monthly Date” means the last Business Day of each calendar month.

     “Notice of Security Discharge Date” has the meaning provided in Section 2.08(a)
(Subordination).

     “Notice of Suspension” has the meaning provided in Section 13.01(a) (Notices of
Suspension of Project Accounts).

     “Operating Account” has the meaning provided in Section 3.01(a)(ii) (Establishment
of Project Accounts).

     “Operating Account Withdrawal Certificate” means a certificate in substantially the
form of Exhibit B, duly executed by an Authorized Officer of the Borrower, directing the
transfer or withdrawal of funds from the Operating Account.

     “Original Accounts Agreement” has the meaning provided in the second recital.

     “Original Credit Agreement” has the meaning provided in the first recital.

     “Original Lenders” has the meaning provided in the first recital.

     “Original Loans” has the meaning provided in the first recital.

     “Original Security Agreement” has the meaning provided in the second recital,

     “Patriot Act” means United States Public Law 107-56, Uniting and Strengthening America
by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) of
2001, and the rules and regulations promulgated thereunder from time to time in effect.

     “Permitted Budgeted Operating Expenses Level” means, for any month in any Fiscal Year,
with respect to Operation and Maintenance Expenses (other than Operation and Maintenance Expenses
for the cost of corn and natural gas), one hundred and ten percent (110%) of the amount projected
for such expenses (other than Operation and Maintenance Expenses for the cost of corn and natural
gas) for the period from the start of such Fiscal Year (or, if the Effective Date occurred during
such Fiscal Year, from the Effective Date) through (and including) such month in the then-current
Operating Budget.

7

 

     “Project Accounts” means the Revenue Account, the Operating Account, the Maintenance
Capital Expense Account, the Working Capital Reserve Account, the Debt Service Reserve Account, the
Aberdeen Insurance and Condemnation Proceeds Account, the Huron Insurance and Condemnation Proceeds
Account, the Extraordinary Proceeds Account and the Huron Project Sub-Account.

     “Related Parties” means, with respect to any Person, such Person’s Affiliates and the
partners, directors, officers, employees, agents and advisors of such Person and of such Person’s
Affiliates.

     “Restoration or Replacement Plan” means a plan and time schedule, reasonably
satisfactory to the Required Lenders and the Independent Engineer, for the application of Insurance
Proceeds and Condemnation Proceeds arising from any Casualty Event or Event of Taking,
respectively, and any other funds available to the Borrower with which to restore or replace the
Project, or any portion thereof, affected by such Casualty Event or Event of Taking.

     “Restricted Payment Certificate” means a certificate in substantially the form of
Exhibit H, duly executed by an Authorized Officer of the Borrower, directing the transfer
or withdrawal of funds for Restricted Payments.

     “Restructuring Agreement” has the meaning provided in the eighth recital.

     “Revenue Account” has the meaning provided in Section 3.01(a)(i) (Establishment of
Project Accounts).

     “Revenue Account Withdrawal Certificate” means a certificate in substantially the form
of Exhibit A, duly executed by an Authorized Officer of the Borrower, directing the
transfer or withdrawal of funds from the Revenue Account.

     “Securities Intermediary” has the meaning provided in the preamble.

     “Security Discharge Date” means the date on which all amounts payable in respect of
the Obligations have been irrevocably and indefeasibly paid in full in cash (other than obligations
under the Financing Documents that by their terms survive and with respect to which no claim has
been made by the Senior Secured Parties).

     “Senior Secured Parties” means the Lenders and the Agents.

     “Subordinated Bonds” has the meaning provided in the eighth recital.

     “UCC” means the Uniform Commercial Code as the same may, from time to time, be in
effect in the State of New York; provided, however, in the event that, by

8

 

reason of mandatory provisions of law, any or all of the perfection or priority of the
security in any Account Collateral is governed by the Uniform Commercial Code as in effect in a
jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform
Commercial Code as in effect, from time to time, in such other jurisdiction for purposes of the
provisions hereof relating to such perfection or priority and for purposes of definitions related
to such provisions.

     “Working Capital Reserve Account” has the meaning provided in Section 3.01(a)(iv)
(Establishment of Project Accounts).

     “Working Capital Reserve Required Amount” means as of any date on and after the
Effective Date, four million Dollars ($4,000,000).

     “Working Capital Reserve Transfer Certificate” means a certificate in substantially
the form of Exhibit D, duly executed by an Authorized Officer of the Borrower directing the
transfer or withdrawal of funds from the Working Capital Reserve Account.

     Section 1.02 Principles of Interpretation. (a) Unless otherwise defined or the
context otherwise requires, terms for which meanings are provided in this Accounts Agreement shall
have the same meanings when used in the Credit Agreement.

     (b) Unless the context requires otherwise, any reference in this Accounts Agreement to any
Financing Document shall mean such Financing Document and all schedules, exhibits and attachments
thereto, as amended from time to time.

     (c) All the agreements, contracts or documents defined or referred to herein shall mean such
agreements, contracts or documents as the same may from time to time be supplemented, amended or
replaced or the terms thereof waived or modified to the extent permitted by, and in accordance
with, the terms thereof and this Accounts Agreement, and shall disregard any supplement,
amendment, replacement or waiver made in breach of this Accounts Agreement.

     (d) Defined terms in this Accounts Agreement shall include in the singular number the plural
and in the plural number the singular.

     (e) The words “herein,” “hereof” and “hereunder” and words of similar import when used in
this Accounts Agreement shall, unless otherwise expressly specified, refer to this Accounts
Agreement as a whole and not to any particular provision of this Accounts Agreement and all
references to Articles, Sections, Exhibits and Schedules shall be references to Articles,
Sections, Exhibits and Schedules of this Accounts Agreement, unless otherwise specified.

9

 

     (f) The words “include,” “includes” and “including” are not limiting.

     (g) The word “or” is not exclusive.

     (h) Any reference to any Person shall include its permitted successors and permitted assigns
in the capacity indicated, and in the case of any Governmental Authority, any Person succeeding to
its functions and capacities.

     Section 1.03 Credit Agreement and UCC Definitions. Unless otherwise defined herein or
unless the context otherwise requires, terms used in this Accounts Agreement, including its
preamble and recitals, have the meanings provided in the Credit Agreement or, if not defined
therein, the UCC.

     Section 1.04 Accounting and Financial Determinations. Unless otherwise specified, all
accounting terms used in any Financing Document shall be interpreted, all accounting determinations
and computations hereunder or thereunder shall be made, and all financial statements required to be
delivered hereunder or thereunder shall be prepared, in accordance with GAAP.

ARTICLE II

APPOINTMENT; GRANT OF SECURITY INTEREST

     Section 2.01 Appointment by Collateral Agent. (a) The Collateral Agent, on behalf and
at the direction of the Senior Secured Parties, hereby appoints and authorizes the Accounts Bank to
act as its depository for the benefit of the Senior Secured Parties, and as the securities
intermediary or bank with respect to the Project Accounts for the benefit of the Collateral Agent,
on behalf of the Senior Secured Parties, with such powers as are expressly delegated to the
Accounts Bank by the terms of this Accounts Agreement, together with such other powers as are
reasonably incidental thereto. The Accounts Bank hereby accepts each such appointment and agrees
to act as the depository for the Collateral Agent, on behalf of the Senior Secured Parties, and as
the securities intermediary or bank with respect to the Project Accounts, for the benefit of the
Collateral Agent, on behalf of the Senior Secured Parties, in accordance with the terms of this
Accounts Agreement. The Accounts Bank further agrees to accept and hold, as securities
intermediary or as a bank, in its custody and in accordance with the terms of this Accounts
Agreement, for the Collateral Agent, on behalf of the Senior Secured Parties, the Project Accounts
and the Account Collateral.

     (b) The Collateral Agent also hereby appoints and authorizes the Accounts Bank to act on its
behalf for the purpose of the creation and perfection of a first priority security interest in
favor of the Collateral Agent, for the benefit of the

10

 

Senior Secured Parties, in the Project Accounts to the extent that they are deemed under
applicable Law not to constitute securities accounts or deposit accounts and in any Account
Collateral that is deemed under applicable Law not to constitute a “financial asset” (within the
meaning of Section 8-102(9) of the UCC). The Accounts Bank hereby accepts this appointment and
agrees to act as the Accounts Bank for the Collateral Agent, on behalf of the Senior Secured
Parties, for such purpose and to hold and maintain exclusive dominion and control over the Project
Accounts and any such Account Collateral on behalf of the Collateral Agent, acting for the benefit
of the Senior Secured Parties.

     Section 2.02 Limitation of Liability. Notwithstanding any provision to the contrary
contained elsewhere in any Financing Document, the Accounts Bank shall not have any duties or
responsibilities, except those expressly set forth herein, nor shall the Accounts Bank have or be
deemed to have any fiduciary relationship with any Senior Secured Party and no implied covenants,
functions, responsibilities, duties, obligations or liabilities shall be read into any Financing
Document or otherwise exist against the Accounts Bank. Without limiting the generality of the
foregoing sentence, the use of the term “agent” in any Financing Document with reference to the
Accounts Bank is not intended to connote any fiduciary or other implied (or express) obligations
arising under agency doctrine of any applicable Law. Instead, such term is used merely as a matter
of market custom, and is intended to create or reflect only an administrative relationship between
independent contracting parties.

     Section 2.03 Project Accounts. (a) The Borrower agrees that it will have no legal or
equitable right to withdraw funds from the Project Accounts, except for those rights expressly
granted to the Borrower in this Accounts Agreement. The Account Collateral will not constitute
repayment of any Obligations until so applied as payments in accordance with the terms of this
Accounts Agreement and the other Financing Documents.

     (b) The Accounts Bank shall not have title to the funds on deposit in or credited to the
Project Accounts, and shall credit the Project Accounts with all receipts of interest, dividends
and other income received on the property held in the Project Accounts. The Accounts Bank shall
administer and manage the Project Accounts in strict compliance with its duties with respect to
the Project Accounts pursuant to this Accounts Agreement, and shall be subject to and comply with
all of the obligations that the Accounts Bank owes to the Borrower and the Collateral Agent, for
the benefit of the Senior Secured Parties, with respect to the Project Accounts, including all
subordination obligations set forth in Section 2.08 (Subordination) with respect to the
Accounts Bank’s right of set-off or recoupment or right to obtain a Lien, pursuant to the terms of
this Accounts Agreement. The Accounts Bank hereby agrees to comply with any and all written
instructions originated by the Collateral Agent directing the

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disbursement, deposit and/or transfer of any funds and all other property held in the Project
Accounts without any further consent of the Borrower or any other Person, and to comply with any
and all written instructions originated by the Borrower directing the disbursement, deposit and/or
transfer of any funds and all other property held in the Project Accounts subject to, and in
accordance with, the terms of this Accounts Agreement.

     Section 2.04 Representations, Warranties and Covenants of Accounts Bank. The Accounts
Bank hereby represents, warrants, covenants and agrees as follows:

     (a) it is a securities intermediary on the date hereof and shall act as such in maintaining
the Project Accounts and all of the Account Collateral (including all securities and other
financial assets or security entitlements deposited in or credited to the Project Accounts) from
time to time transferred, deposited in or credited to or maintained in the Project Accounts;

     (b) it is the bank with which each Project Account is maintained and the securities
intermediary with respect to the financial assets held in the Project Accounts. In this regard,
(i) if the Accounts Bank has knowledge that an issuer of any financial asset is required to make a
payment or distribution in respect of such financial asset, the Accounts Bank shall have fulfilled
its duty under applicable Law to take action to obtain such payment or distribution if (A) it
credits such payment or distribution to the Project Accounts in accordance with this Accounts
Agreement if such payment or distribution is made or (B) it notifies the Borrower and the
Collateral Agent that such payment or distribution has not been made, and (ii) if the Accounts
Bank is required by applicable Law or this Accounts Agreement to credit to any Project Account any
financial asset purported to be transferred or credited to the Accounts Bank pursuant to
applicable Law, the Accounts Bank shall have fulfilled its duty to so credit any Project Account
if it credits as a security entitlement to the applicable party whatever rights the Accounts Bank
purportedly has in the financial asset transferred or credited to the Accounts Bank and the
Accounts Bank shall have no duty to ensure that applicable Law has been complied with in respect
of the transfer of the financial asset or to create a security interest in or Lien on any
financial asset purported to be transferred or credited to the Accounts Bank and subsequently
credited to any Project Account;

     (c) it shall promptly perform all duties imposed upon a securities intermediary and a bank
under the UCC, other applicable Law and this Accounts Agreement;

     (d) the Collateral Agent, for the benefit of the Senior Secured Parties, and no other Person,
is the Accounts Bank’s customer with respect to the Project

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Accounts, and the Borrower has consented to the Collateral Agent, on behalf and for the
benefit of the Senior Secured Parties, being deemed the customer hereunder;

     (e) the Securities Intermediary’s jurisdiction, for purposes of this Accounts Agreement and
Article 8 of the UCC, is and shall continue to be the State of New York, and the bank’s
jurisdiction of the Accounts Bank, for purposes of this Accounts Agreement and Section 9-304(b)(1)
of the UCC, is and shall continue to be the State of New York;

     (f) it has established and maintains the Project Accounts as set forth in Section 3.01
(Establishment of Project Accounts);

     (g) each Project Account is and will be maintained as a securities account or, as set forth
in Section 2.05 (Project Accounts as Deposit Account), a deposit account;

     (h) all financial assets acquired by or delivered to the Accounts Bank shall be held by the
Accounts Bank and credited by book entry to the relevant Project Account or otherwise accepted by
the Accounts Bank for credit to the relevant Project Account. Any financial asset so credited or
accepted for credit to the relevant Project Account shall be registered in the name of, payable
to, or to the order of, or indorsed to the Accounts Bank or in blank and in no case will any
financial asset credited to any Project Account or held by the Accounts Bank for credit to any
Project Account be registered in the name of, payable to, to the order of, or indorsed to, the
Borrower, except to the extent that such financial asset has been subsequently indorsed by the
Borrower to the Accounts Bank or in blank;

     (i) each item of property (including any cash, security, general intangible, document,
instrument or obligation, share, participation, interest or other property whatsoever) deposited
in or credited to any Project Account shall be treated as a financial asset under and for the
purposes of Article 8 of the UCC, including Section 8-102(a)(9)(iii) thereof. Notwithstanding any
provision herein to the contrary, any property contained in the Project Accounts that is not
deemed to be a financial asset under applicable Law, to the extent permitted by applicable Law,
will be deemed to be deposited in a deposit account and subject to Section 2.05 (Project
Accounts as Deposit Account);

     (j) the Collateral Agent, for the benefit of the Senior Secured Parties, is the entitlement
holder in any security entitlements with respect to any financial assets deposited in or credited
to the Project Accounts, and the Collateral Agent may issue entitlement orders with respect
thereto;

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     (k) if at any time it receives an entitlement order or any other order from the Collateral
Agent directing the transfer, redemption or liquidation of any financial asset carried in the
Project Accounts or any instruction originated by the Collateral Agent directing the disbursement,
deposit and/or transfer of any funds or other property held in the Project Accounts, the Accounts
Bank shall comply with such entitlement order, instruction or other order without further consent
by the Borrower or any other Person. The Borrower hereby agrees that the Collateral Agent, on
behalf of and for the benefit of the Senior Secured Parties, shall have control of the security
entitlements carried in the Project Accounts and of the financial assets carried in the Project
Accounts, and the Borrower hereby disclaims any entitlement to claim control of such security
entitlements or financial assets;

     (l) all property delivered to the Accounts Bank pursuant to this Accounts Agreement or the
other Financing Documents will be promptly deposited in or credited to a Project Account by an
appropriate entry in its records in accordance with this Accounts Agreement;

     (m) the Accounts Bank shall not change the name or account number of any Project Account
unless it obtains the prior written consent of the Collateral Agent and provides prior written
notice to the Borrower;

     (n) except for the claims and interest of (i) the Collateral Agent, for the benefit of the
Senior Secured Parties, in the Project Accounts, and (ii) the Borrower, in the Project Accounts,
it does not know of and has not received written notice of any right or claim (including any
adverse claim) to or interest in the Project Accounts or any Account Collateral (including,
without limitation, funds and financial assets) deposited in or credited to the Project Accounts
by any Person. If any Person (other than the Collateral Agent, on behalf of the Senior Secured
Parties) asserts any Lien, encumbrance or adverse claim (including any writ, garnishment,
judgment, warrant of attachment, execution or similar process) against any Project Account or in
any financial asset or other property deposited therein or credited thereto, the Accounts Bank
will promptly notify the Collateral Agent and the Borrower thereof; and

     (o) the Accounts Bank has not entered into and will not enter into any agreement with respect
to the Project Accounts or any financial assets or other property deposited in or credited to any
Project Account other than this Accounts Agreement, as may be amended from time to time. The
Accounts Bank has not entered into and will not enter into any agreement with the Borrower or any
other Person purporting to limit or condition the obligation of the Accounts Bank to comply with
entitlement orders or any other order originated by the Collateral Agent in accordance with this
Accounts Agreement.

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     Section 2.05 Project Accounts as Deposit Account. (a) The parties hereto agree that,
to the extent that the Project Accounts are not considered “securities accounts” (within the
meaning of Section 8-501(a) of the UCC), the Project Accounts shall be deemed to be deposit
accounts (as defined in Section 9-102(a)(29) of the UCC) to the extent a security interest can be
granted and perfected under the UCC in the Project Accounts as deposit accounts, which the Borrower
shall maintain with the Accounts Bank acting not as Securities Intermediary but as a “bank” (within
the meaning of Section 9-102(a)(8) of the UCC).

     (b) The Collateral Agent, on behalf of the Senior Secured Parties, shall be deemed the sole
customer of the Accounts Bank for purposes of the Project Accounts and, as such, shall be entitled
to all of the rights that customers of banks have under applicable Law with respect to deposit
accounts, including the right to withdraw funds from, or close, the Project Accounts, and the
Borrower hereby consents to the Collateral Agent being deemed the customer hereunder.

     Section 2.06 Grant of First-Priority Security Interest. (a) As security for the
prompt and complete payment when due (whether at stated maturity, by acceleration or otherwise) of
any and all of the Obligations and the due performance and compliance by the Borrower with all of
the terms, conditions, and agreements to be performed and complied with by it under and pursuant to
the terms of the Credit Agreement and the other Financing Documents, the Borrower (x) collaterally
assigned, granted and pledged pursuant to the Original Security Agreement, and acknowledges and
agrees that the “Account Collateral” pledged pursuant to the Original Accounts Agreement is subject
to, and continues to be subject to, without interruption, the continuing first lien on, and
continuing first priority perfected security interest granted in the Original Security Agreement,
and (y) hereby acknowledges and confirms the pledge, collateral assignment, hypothecation, and
granting of a first-priority security interest to the Collateral Agent, for the benefit of the
Senior Secured Parties, pursuant to the Security Agreement in, all of its right, title and interest
in and to the following, in each case, as to each type of property described below, whether now
owned or hereafter acquired by the Borrower, wherever located, and whether now or hereafter
existing or arising (collectively, the “Account Collateral”):

	 	(i)	 	each of the Project Accounts, including all
funds, Cash Equivalents, securities, financial assets or other
property held in, required to be held in or credited to any of such
Project Accounts or otherwise in possession or control of the
Accounts Bank pursuant to this Accounts Agreement, and all interest,
dividends and other income derived therefrom;

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	 	(ii)	 	all statements, certificates, instruments
and investment property representing or evidencing any property
described in clause (i) above held in, required to be held in
or credited to any of such Project Accounts or otherwise in
possession or control of the Accounts Bank pursuant to this Accounts
Agreement; and
	 
	 	(iii)	 	to the extent not included in the
foregoing, all proceeds, products and accessions of and to any and
all of the foregoing, including whatever is received upon any
collection, exchange, sale or other disposition of any of the
foregoing and any property into which any of the foregoing is
converted, whether cash or non-cash proceeds, and any and all other
amounts paid or payable under or in connection with any of the
foregoing and all security entitlements of the Borrower in any and
all of the foregoing.

     Section 2.07 Control and Perfection of Account Collateral. (a) The Borrower
specifically acknowledges and agrees that (i) (A) each Project Account pledged hereunder shall be
maintained so that the Collateral Agent, on behalf and for the benefit of the Senior Secured
Parties, has control of such Project Account in the manner specified in Section 9-104 of the UCC,
(B) all Cash Equivalents pledged hereunder shall be maintained so that the Collateral Agent, on
behalf and for the benefit of the Senior Secured Parties, has control of such Cash Equivalents in
the manner specified in Section 9-106 of the UCC, and (C) all financial assets held in the Project
Accounts and pledged hereunder shall be maintained so that the Collateral Agent, on behalf and for
the benefit of the Senior Secured Parties, has control of such financial assets in the manner
specified in Section 8-106 of the UCC.

     (b) The Borrower shall give, execute, deliver, file, record, authenticate, authorize or
obtain all such UCC financing statements as may be necessary to perfect and maintain the security
interests granted under this Accounts Agreement.

     (c) Until the Security Discharge Date, the Borrower shall not have any rights against or to
monies held in the Project Accounts, except the right to receive or make requisitions of funds
deposited in or credited to the Project Accounts as permitted by this Accounts Agreement.

     Section 2.08 Subordination. (a) The Accounts Bank hereby acknowledges the
first-priority security interest granted hereby to the Collateral Agent, for the benefit of the
Senior Secured Parties. In the event that the Accounts Bank has or

16

 

subsequently obtains by agreement, operation of Law or otherwise a right of recoupment or
set-off or any Lien in any of the Project Accounts, Account Collateral or any financial asset or
other property deposited therein or credited thereto or any security entitlement related thereto,
the Accounts Bank hereby agrees that such right of recoupment or set-off and/or any such Lien shall
(except to the extent provided in clause (c) of this Section 2.08) be subordinate
to the security interest of the Collateral Agent, on behalf and for the benefit of the Senior
Secured Parties. The Accounts Bank agrees that it shall not (except to the extent provided in
clause (c) of this Section 2.08) assert or enforce any such right of recoupment or
set-off and/or any Lien until the date on which the Administrative Agent notifies the Accounts Bank
in writing that the Security Discharge Date has occurred (the “Notice of Security Discharge
Date”).

     (b) Until the Notice of Security Discharge Date, the financial assets and other items
deposited in or credited to the Project Accounts and all other Account Collateral will not (except
to the extent provided in clause (c) of this Section 2.08) be subject to
deduction, set-off, banker’s lien or any other right in favor of any Person other than the
Collateral Agent, on behalf and for the benefit of the Senior Secured Parties.

     (c) The Project Accounts, Account Collateral or any financial asset or other property
deposited therein or credited thereto shall be subject to deduction, set-off, banker’s lien and
recoupment to the extent of returned items and chargebacks either for uncollected checks or other
items of payment and transfers previously credited to one or more Project Accounts, and each of
the Collateral Agent, on behalf of and for the benefit of the Senior Secured Parties and the
Borrower hereby expressly authorizes the Accounts Bank to debit the relevant Project Account(s)
for such amounts.

     Section 2.09 Agreement to Hold In Trust. All payments received directly by the
Borrower that are required to be deposited into the Project Accounts in accordance with the terms
of this Accounts Agreement, the Credit Agreement, or any other Financing Document (including any
amount received by the Borrower pursuant to, or in connection with, any Project Document or any
sale of Products) shall be held by the Borrower in trust for the Collateral Agent, on behalf and
for the benefit of the Senior Secured Parties, shall be segregated from other funds of the Borrower
and shall, forthwith upon receipt by the Borrower, be turned over to the Collateral Agent or its
designee in the same form as received by the Borrower (duly endorsed by the Borrower to the
Collateral Agent or the Accounts Bank, if requested) for deposit and disbursement in accordance
with this Accounts Agreement.

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ARTICLE III

PROJECT ACCOUNTS

     Section 3.01 Establishment of Project Accounts. (a) On or prior to the Effective
Date, the Accounts Bank has established or shall establish, and shall maintain, in the name of the
Collateral Agent and on the books and records of the Accounts Bank’s offices located in Amarillo,
Texas, the accounts set forth below:

	 	(i)	 	a special, segregated, Dollar-denominated
account entitled “Revenue Account”, Account No. 129615 (the
“Revenue Account”);
	 
	 	(ii)	 	a special, segregated, Dollar-denominated
account entitled “Operating Account”, Account No. 129461 (the
“Operating Account”);
	 
	 	(iii)	 	a special, segregated, Dollar-denominated
account entitled “Maintenance Capital Expense Account”, Account No.
129488 (the “Maintenance Capital Expense Account”);
	 
	 	(iv)	 	a special, segregated, Dollar-denominated
account entitled “Working Capital Reserve Account”, Account No.
128619 (the “Working Capital Reserve Account”); and a
special, segregated, Dollar-denominated sub-account thereof entitled
“Huron Rail Project Sub-Account”, Account No. 147516 (the “Huron
Rail Project Sub-Account”);
	 
	 	(v)	 	a special, segregated, Dollar-denominated
account entitled “Debt Service Reserve Account”, Account No. 129496
(the “Debt Service Reserve Account”);
	 
	 	(vi)	 	a special, segregated, Dollar-denominated
account entitled “Aberdeen Insurance and Condemnation Proceeds
Account”, Account No. 129526 (the “Aberdeen Insurance and
Condemnation Proceeds Account”);
	 
	 	(vii)	 	a special, segregated, Dollar-denominated
account entitled “Huron Insurance and Condemnation Proceeds Account”,
Account No. 129534 (the “Huron Insurance and Condemnation
Proceeds Account”);

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	 	(viii)	 	a special, segregated, Dollar-denominated account entitled
“Extraordinary Proceeds Account”, Account No. 128449 (the
“Extraordinary Proceeds Account”);

     (b) Closure of Certain Project Accounts Under Original Accounts Agreement. On the
Effective Date, the Accounts Bank shall (i) transfer to the Revenue Account any remaining funds on
deposit in or standing to the credit of each of the Construction Account, the Liquidated Damages
Account, the Prepayment Holding Account, the Contingency Reserve Account and the Bond Proceeds
Sub-Account and the LC Cash Collateral Sub-Account (as each such account is defined in the
Original Accounts Agreement), (ii) terminate and close each such account and (iii) provide
evidence reasonably satisfactory to the Collateral Agent that each such account has been
terminated and closed.

     Section 3.02 Deposits into and Withdrawals from Project Accounts. (a) Amounts shall
be deposited into and withdrawn from the Project Accounts in strict accordance with this
Article III.

     (b) The Accounts Bank will only be required to transfer funds hereunder on a “same day” basis
if it has received written notice of such proposed transfer, together with all certificates,
notices, directions and other documents required under this Accounts Agreement to be delivered to
the Accounts Bank relating thereto, not later than 11:00 a.m. Eastern time on the Business Day of
such proposed transfer and, if such notice or any such related document is received by the
Accounts Bank after such time, such transfer will be undertaken on the next Business Day
succeeding the date of receipt by the Accounts Bank of all such documentation.

     (c) If any transfer, withdrawal, deposit, investment or payment of any funds by the Accounts
Bank or any other action to be taken by the Accounts Bank under this Accounts Agreement is to be
made or taken on a day other than a Business Day, such transfer, withdrawal, deposit, investment,
payment or other action will be made or taken on the next succeeding Business Day.

     (d) (i) Any instruction, direction, notice, certificate, request or requisition given to the
Accounts Bank by the Borrower with respect to the transfer, withdrawal, deposit, investment or
payment of any funds under this Accounts Agreement or with respect to any other obligations to be
performed by the Accounts Bank under this Accounts Agreement (A) must be in writing and signed by
an Authorized Officer of the Borrower, (B) in referencing any of the Project Accounts, must refer
to the specific Project Account name and number, (C) shall constitute a representation by the
Borrower that all conditions set forth in this Accounts Agreement for such withdrawal have been
satisfied, whether or not those conditions are explicitly

19

 

stated to be so satisfied and (D) shall be copied to the Administrative Agent and the
Collateral Agent.

          (ii) Any instruction, direction, notice, certificate, request or requisition given to the
Accounts Bank by the Collateral Agent or the Administrative Agent with respect to the transfer,
withdrawal, deposit investment or payment of any funds under this Accounts Agreement or with
respect to any other obligations to be performed by the Accounts Bank under this Accounts Agreement
(A) must be in writing, (B) in referencing any of the Project Accounts, must refer to the specific
Project Account name and number, and (C) shall be copied to the Borrower.

          (iii) Notwithstanding anything contained in this Accounts Agreement or any other Financing
Document to the contrary, the Accounts Bank may rely on, and shall be protected in acting or
refraining from acting upon, any instruction, direction, notice, certificate, request or
requisition of the Borrower, the Administrative Agent or the Collateral Agent.

     (e) None of the Project Accounts shall go into overdraft, and the Accounts Bank shall not
comply with any request or direction to the extent that it would cause any of the Project Accounts
to do so.

     (f) The Borrower hereby acknowledges that it has irrevocably instructed each Project Party,
and agrees that it shall so instruct each future Project Party and each payor in connection with
any sale of Product, to make all payments due and payable to the Borrower under any Project
Document and in connection with any such sale of Product directly to the Accounts Bank for deposit
in, or to be credited in the manner set forth in this Article III. The Borrower further
agrees that it shall irrevocably instruct each other Person from whom the Borrower is entitled to
receive Cash Flow or Insurance Proceeds and Condemnation Proceeds to make all payments due and
payable to the Borrower from such Person directly to the Accounts Bank for deposit, and to be
credited, in the manner set forth in this Article III.

     (g) The Accounts Bank shall not be charged with knowledge of any Notice of Suspension,
Default or Event of Default unless the Accounts Bank has received such Notice of Suspension or
other written notice of such Default or Event of Default from the Administrative Agent, the
Collateral Agent or an Authorized Officer of the Borrower.

     (h) The Accounts Bank shall not be charged with the knowledge that any transfer or withdrawal
from any Project Account would result in the occurrence of a Default or Event of Default, unless
it has received written notice thereof from the Administrative Agent, the Collateral Agent or an
Authorized Officer of the Borrower.

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     (i) Notwithstanding anything contained in this Accounts Agreement or any other
Financing Document to the contrary, the Accounts Bank shall have no obligation to (i) make any
payment, transfer or withdrawal from any Project Account until it has received written direction
to make such payment, transfer or withdrawal from the Collateral Agent, the Administrative Agent,
or the Borrower if this Accounts Agreement explicitly provides that any such direction may be made
by the Borrower, or (ii) determine whether any payment, transfer or withdrawal from any Project
Account made in accordance with any written direction from the Collateral Agent, the
Administrative Agent or the Borrower (if this Accounts Agreement explicitly provides that any such
direction may be made by the Borrower) complies with the terms of this Accounts Agreement. The
Accounts Bank shall have no liability for, nor any responsibility or obligation to confirm, the
use or application by the Borrower, Administrative Agent, the Collateral Agent or any other
recipient of amounts withdrawn or transferred from any Project Account.

     (j) Notwithstanding any other provision of this Accounts Agreement or any other Financing
Document (but without limiting Sections 3.02(g), (h) and (i) (Deposits
into and Withdrawals from Project Accounts)), without the express prior written consent of the
Required Lenders, no amount may be withdrawn from any Project Account if a Default or Event of
Default would occur as a result of such withdrawal.

     (k) On the date of each withdrawal by the Accounts Bank from a Project Account, the Borrower
shall be deemed to represent and warrant that no Notice of Suspension is in effect and that no
Default or Event of Default would occur as a result of such withdrawal, unless the Required
Lenders have previously consented in writing to such withdrawal, notwithstanding that a Notice of
Suspension is in effect or that a Default or Event of Default would occur as a result of such
withdrawal.

ARTICLE IV

REVENUE ACCOUNT

     Section 4.01 Revenue Account. (a) Payments into the Revenue Account. The
Borrower shall cause the following amounts to be paid into the Revenue Account:

	 	(i)	 	all Cash Flow;
	 
	 	(ii)	 	except as set forth in Section 10.01
(Extraordinary Proceeds Account), all proceeds from the sale or
disposition of any assets of the Borrower;

21

 

	 	(iii)	 	any other income received by or on behalf
of the Borrower that is not required to be deposited in or credited
to another Project Account, or applied directly to any Obligations,
in accordance with this Accounts Agreement; and
	 
	 	(iv)	 	amounts transferred to the Revenue Account
pursuant to Section 2.01 (Payments by ABE) or Section 4.01(d)
(Remittance of Disputed Interest by Bond Trustee) of the
Restructuring Agreement or Section 3.01(b) (Closure of Certain
Project Accounts Under Original Accounts Agreement), Section 7.01(b)
(Withdrawals from the Working Capital Reserve Account),
Section 7.01(c) (Excess Amount in Working Capital Reserve
Account), Section 7.02(c) (Huron Rail Project Sub-Account —
Termination), Section 8.03 (Excess in Debt Service Reserve
Account), Section 10.01(b)(i) (Withdrawals from the
Extraordinary Proceeds Account — Asset Disposal) or Section
10.01(c)(i) (Withdrawals from the Extraordinary Proceeds Account —
Project Document Termination Payments).

     (b) Withdrawals from the Revenue Account on the Effective Date. On the Effective
Date, the Accounts Bank shall cause funds on deposit in or standing to the credit of the Revenue
Account to be withdrawn and transferred as follows:

	 	(i)	 	an amount equal to the Closing Fee (if any)
due and payable to be paid to the Administrative Agent for the
account of the Lenders, in accordance with Section 2.02(a) (Payments
by the Borrower) of the Restructuring Agreement;
	 
	 	(ii)	 	an amount equal to ten million Dollars
($10,000,000) to be paid to the Administrative Agent for the account
of the Lenders in accordance with Section 2.02(a) (Payments by the
Borrower) of the Restructuring Agreement;
	 
	 	(iii)	 	an amount equal to five million Dollars
($5,000,000) to be to be paid to the Administrative Agent for the
account of the Lenders in accordance with Section 2.02(a) (Payments
by the Borrower) of the Restructuring Agreement;
	 
	 	(iv)	 	to the Debt Service Reserve Account in an
amount equal to the difference between (A) the Debt Service Reserve

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	 	 	 	Required Amount and (B) the funds on deposit in or standing to the
credit of the Debt Service Reserve Account (including the Stated
Amount of any Debt Service Reserve Letter of Credit);
	 
	 	(v)	 	to the Working Capital Reserve Account, in
the amount equal to the difference between (A) the Working Capital
Reserve Required Amount and (B) the funds on deposit in or standing
to the credit of the Working Capital Reserve Account (other than
amounts standing to the credit of the Huron Rail Project
Sub-Account);
	 
	 	(vi)	 	to the Huron Rail Project Sub-Account, in
an amount equal to two million Dollars ($2,000,000);
	 
	 	(vii)	 	an amount approved by the Required Lenders
owing to the counterparty under any Interest Rate Cap Agreement;
	 
	 	(viii)	 	an amount equal to two million, two hundred and fifty thousand
Dollars ($2,250,000) to be paid to be paid to the Bond Trustee for
the account of the holders of the Subordinated Bonds in accordance
with Section 2.02(b) (Payments by the Borrower) of the Restructuring
Agreement;
	 
	 	(ix)	 	an amount equal to sixteen thousand four
hundred ninety-five Dollars and sixteen cents ($16,495.16) to be paid
to Briggs and Morgan, P.A., counsel to the Issuer, in accordance with
Section 2.02(b) (Payments by the Borrower) of the Restructuring
Agreement.

     (c) Withdrawals from the Revenue Account. Unless a Notice of Suspension is in effect
or a Default or Event of Default would occur as a result of any application of funds contemplated
by this Section 4.01(c), upon receipt of a Revenue Account Withdrawal Certificate duly
executed by an Authorized Officer of the Borrower (with a copy to the Administrative Agent), the
Accounts Bank shall, in accordance with the directions set forth therein, cause funds held in the
Revenue Account to be withdrawn or transferred to pay the following amounts on the dates and at
the priorities indicated below:

	 	(i)	 	first, on the Effective Date and on each
Monthly Date (or, in the case of amounts to pay Operation and
Maintenance

23

 

	 	 	 	Expenses for the cost of corn and natural gas, on any date), to
the Operating Account, in the amount certified by the Borrower in
such Revenue Account Withdrawal Certificate as required to pay
Operation and Maintenance Expenses that, in each such case (other
than Operation and Maintenance Expenses for the cost of corn and
natural gas), are or will become due and payable during the
immediately succeeding calendar month; provided, that the
aggregate amount of withdrawals (other than for amounts to pay
Operation and Maintenance Expenses for the cost of corn and
natural gas) pursuant to this priority first for all
calendar months in such Fiscal Year, including amounts proposed to
be drawn on such Monthly Date for the immediately succeeding
calendar month, does not exceed the Permitted Budgeted Operating
Expenses Level for such immediately succeeding calendar month, as
certified by the Borrower in such Revenue Account Withdrawal
Certificate;
	 
	 	(ii)	 	second, on each Monthly Date, to the
Maintenance Capital Expense Account, in the amount certified by the
Borrower in such Revenue Account Withdrawal Certificate as necessary
to pay Maintenance Capital Expenses that, in each such case, are or
will become due and payable during the immediately succeeding
calendar month; provided that such transfer shall require the
approval of the Independent Engineer if such Maintenance Capital
Expenses together with all previous transfers to the Maintenance
Capital Expense Account during the then current Fiscal Year would
exceed five hundred thousand Dollars ($500,000) in the then current
Fiscal Year;
	 
	 	(iii)	 	third, on any date when due and payable,
to the Administrative Agent, for the account of the Senior Secured
Parties, in the amount certified by the Borrower in such Revenue
Account Withdrawal Certificate or otherwise instructed in writing to
the Accounts Bank by the Administrative Agent as necessary to pay
Fees, costs and expenses then due and payable under the Financing
Documents;

24

 

	 	(iv)	 	fourth, on any date when due and payable,
to the Administrative Agent, for the account of the Senior Secured
Parties, in the amount certified by the Borrower in such Revenue
Account Withdrawal Certificate or otherwise instructed in writing to
the Accounts Bank by the Administrative Agent as necessary to pay any
interest then due and payable under the Financing Documents;
	 
	 	(v)	 	fifth, on each Quarterly Payment Date, to
pay to the Administrative Agent, for the account of the Lenders, on a
pro rata basis, in the amount certified by the
Borrower in such Revenue Account Withdrawal Certificate or otherwise
instructed in writing to the Accounts Bank by the Administrative
Agent as principal amounts due and payable with respect of the Loans;
	 
	 	(vi)	 	sixth, on each Quarterly Payment Date, to
the Debt Service Reserve Account, in the amount certified by the
Borrower in such Revenue Account Withdrawal Certificate or otherwise
instructed in writing to the Accounts Bank by the Administrative
Agent as equal to the difference between (A) the Debt Service Reserve
Required Amount and (B) the funds on deposit in or standing to the
credit of the Debt Service Reserve Account (including the Stated
Amount of any Debt Service Reserve Letter of Credit) on such
Quarterly Payment Date;
	 
	 	(vii)	 	seventh, on each Quarterly Payment Date,
to the Working Capital Reserve Account, in the amount certified by
the Borrower in such Revenue Account Withdrawal Certificate or
otherwise instructed in writing to the Accounts Bank by the
Administrative Agent as equal to the difference between (A) the
Working Capital Reserve Required Amount and (B) the funds on deposit
in or standing to the credit of the Working Capital Reserve Account
(other than amounts standing to the credit of the Huron Rail Project
Sub-Account) on such Quarterly Payment Date;
	 
	 	(viii)	 	eighth, provided that no Default or Event of Default has occurred
and is continuing, on each Quarterly Payment Date, in an amount
certified by the Borrower in such Revenue Account Withdrawal
Certificate to the Persons or

25

 

	 	 	 	accounts specified in such Revenue Account Withdrawal Certificate
(including, if required to be paid directly to any taxing
authority, to such taxing authority) for payment of any Permitted
Tax Distribution;
	 
	 	(ix)	 	ninth, on each Quarterly Payment Date, to
the Administrative Agent (A) if the outstanding principal amount of
the Loans is equal to or greater than twenty five million Dollars
($25,000,000), all of the cash remaining in the Revenue Account after
the transfer required (if any) pursuant to priority eighth,
or (B) if the outstanding principal amount of the Loans is less than
twenty five million Dollars ($25,000,000), in an amount equal to
seventy five percent (75%) of the cash remaining in the Revenue
Account after the transfer required (if any) pursuant to priority
eighth, either as certified by the Borrower in such Revenue
Account Withdrawal Certificate or otherwise instructed in writing to
the Accounts Bank by the Administrative Agent, for application as a
prepayment of the Loans in accordance with Section 3.08(e) (Mandatory
Prepayment) of the Credit Agreement; and
	 
	 	(x)	 	tenth, subject to Section 7.02(r) (Negative
Covenants —Restricted Payments) of the Credit Agreement, on or
within thirty (30) days following each Quarterly Payment Date, as and
in the amount certified by an Authorized Officer of the Borrower in a
Restricted Payment Certificate.

ARTICLE V

OPERATING ACCOUNT

     Section 5.01 Operating Account. (a) Payments into the Operating Account.
Funds shall be deposited into the Operating Account pursuant to priority first of
Section 4.01(c) (Withdrawals from the Revenue Account).

     (b) Withdrawals from the Operating Account. Unless a Notice of Suspension is in
effect or a Default or Event of Default would occur as a result of any application of funds
contemplated hereby, and so long as adequate funds are then available in the Operating Account,
the Borrower may, by delivery of an Operating Account Withdrawal Certificate to the Accounts Bank
(with a copy to the Collateral Agent and the Administrative Agent), withdraw or transfer funds
from the Operating

26

 

Account from time to time as may be necessary to pay directly any amounts owed by the
Borrower for Operation and Maintenance Expenses.

ARTICLE VI

MAINTENANCE CAPITAL EXPENSE ACCOUNT

     Section 6.01 Maintenance Capital Expense Account. (a) Payments into the
Maintenance Capital Expense Account. Funds shall be deposited into the Maintenance Capital
Expense Account pursuant to priority second of Section 4.01(c) (Withdrawals from the
Revenue Account).

     (b) Withdrawals from the Maintenance Capital Expense Account. Unless a Notice of
Suspension is in effect or a Default or Event of Default would occur as a result of any
application of funds contemplated hereby, and so long as adequate funds are then available in the
Maintenance Capital Expense Account, the Borrower may, by delivery of a Maintenance Capital
Expense Transfer Certificate to the Accounts Bank (with a copy to the Administrative Agent),
withdraw or transfer funds from the Maintenance Capital Expense Account from time to time as may
be necessary to pay directly any amounts owed by the Borrower for Maintenance Capital Expenses in
accordance with the most recent Revenue Account Withdrawal Certificate.

ARTICLE VII

WORKING CAPITAL RESERVE ACCOUNT

     Section 7.01 Working Capital Reserve Account.

     (a) Payments into the Working Capital Reserve Account. Funds shall be deposited into
the Working Capital Reserve Account in accordance with Section 4.01(b)(v) (Withdrawals from
the Revenue Account on the Effective Date) and priority seventh of Section 4.01(c)
(Withdrawals from the Revenue Account).

     (b) Withdrawals from the Working Capital Reserve Account. Unless a Notice of
Suspension is in effect or a Default or Event of Default would occur as a result of any
application of funds contemplated hereby, the Borrower may direct, by delivery of a Working
Capital Reserve Transfer Certificate to the Accounts Bank (with a copy to the Administrative
Agent), the transfer or withdrawal of amounts standing to the credit of the Working Capital
Reserve Account to the Revenue Account for:

27

 

	 	(i)	 	amounts due and owing for Operation and
Maintenance Expenses, as certified by the Borrower in such Working
Capital Reserve Transfer Certificate, but only to the extent that
adequate funds are not available for the payment of such Operation
and Maintenance Expenses in the Operating Account.
	 
	 	(ii)	 	amounts due and owing for Maintenance
Capital Expenses, as certified by the Borrower in such Working
Capital Reserve Transfer Certificate, but only to the extent that
adequate funds are not available for the payment of such Maintenance
Capital Expenses in the Maintenance Capital Expense Account.

     (c) Excess Amount in Working Capital Reserve. If, on any Quarterly Payment Date, the
funds on deposit in or standing to the credit of the Working Capital Reserve Account (other than
amounts standing to the credit of the Huron Rail Project Sub-Account) are in excess of the Working
Capital Reserve Required Amount, unless a Notice of Suspension is in effect or a Default or Event
of Default would occur as a result of such transfer, the Borrower shall direct, by delivery of a
Working Capital Reserve Transfer Certificate to the Accounts Bank (with a copy to the
Administrative Agent), the transfer (or the Administrative Agent may direct the Accounts Bank in
writing to transfer) to the Revenue Account of an amount equal to the difference between (x) the
aggregate amount of all funds on deposit in or standing to the credit of the Working Capital
Reserve Account and (y) the Working Capital Reserve Required Amount, as certified by the Borrower
and confirmed by the Administrative Agent in such Working Capital Reserve Transfer Certificate (or
otherwise directed by the Administrative Agent).

     Section 7.02 Huron Rail Project Sub-Account.

     (a) Deposits into the Huron Rail Project Sub-Account. Funds shall be deposited into
the Huron Rail Project Sub-Account in accordance with Section 4.01(b)(vi) (Withdrawals from
the Revenue Account on the Effective Date).

     (b) Withdrawals from the Huron Rail Project Sub-Account.

	 	(i)	 	Unless a Notice of Suspension is in effect
or a Default or Event of Default would occur as a result of any
application of funds contemplated by this Section 7.02(b),
funds standing to the credit of the Huron Rail Project Sub-Account
shall be disbursed only upon delivery to the

28

 

	 	 	 	Accounts Bank of (A) a Huron Rail Project Withdrawal Certificate
(with a copy to the Administrative Agent and the Independent
Engineer), signed by the Borrower, (B) a Lien Waiver Statement
from each contractor, subcontractor and other Person providing
work for the Huron Rail Project evidencing receipt of payment for
all work performed in connection with the Huron Rail Project and
such Huron Rail Project Withdrawal Certificate, dated on or about
the time of the Huron Rail Project Withdrawal Certificate covering
all payments paid, or that are due and payable on the date of such
Lien Waiver Statement and all work done and sums received by such
contractor or subcontractor (unless covered by a previous Lien
Waiver Statement), (C) all invoices in respect of such work in
connection with the Huron Rail Project proposed to be paid in such
Huron Rail Project Withdrawal Certificate, which invoices shall
have been received in form and substance satisfactory to the
Independent Engineer, and (D) an Independent Engineer’s
Certificate in respect of the above. All payments from the Huron
Rail Project Sub-Account shall be made by the Accounts Bank
pursuant to instructions set forth in the relevant Huron Rail
Project Withdrawal Certificate directly to the payee.

     (c) Termination. Upon the earlier of (x) July 31, 2011 and (y) completion of the
Huron Rail Project and payment of all outstanding amounts for work performed in connection
therewith (as certified by the Independent Engineer), the Borrower shall direct, by delivery of a
Huron Rail Project Withdrawal Certificate to the Accounts Bank (with a copy to the Administrative
Agent), the transfer (or the Administrative Agent may direct the Accounts Bank in writing to
transfer) to the Revenue Account all amounts on deposit in or standing to the credit of the Huron
Rail Project Sub-Account, and the Huron Rail Project Sub-Account shall be terminated and closed.

ARTICLE VIII

DEBT SERVICE RESERVE ACCOUNT

     Section 8.01 Debt Service Reserve Account. (a) Payments into the Debt Service
Reserve Account. Funds shall be deposited into the Debt Service Reserve Account:

29

 

	 	(i)	 	on the Effective Date, pursuant to
Section 4.01(b)(iv) (Withdrawals from the Revenue Account on the
Effective Date); and
	 
	 	(ii)	 	pursuant to priority sixth of
Section 4.01(c) (Withdrawals from the Revenue Account);
provided that, notwithstanding the foregoing, in lieu of
cash, the Borrower may cause to be delivered to the Accounts Bank one
or more Debt Service Reserve Letters of Credit (each of which shall
be accompanied by a Debt Service LC Waiver Letter), the Stated
Amounts of which shall be credited to the Debt Service Reserve
Account.

     (b) Withdrawals from the Debt Service Reserve Account. On any date when the amounts
available at priorities third, fourth and fifth of Section 4.01(c) (Withdrawals from
the Revenue Account) are insufficient to pay Debt Service then due and owing, the Accounts
Bank shall (upon written notification from the Borrower or the Administrative Agent, with a copy
to the Administrative Agent or the Borrower, as applicable, setting forth the amount of such
shortfall) withdraw funds from the Debt Service Reserve Account to pay to the Administrative
Agent, for the account of the Senior Secured Parties, the amount of such shortfall of the Debt
Service then due and payable, which funds shall be applied by the Administrative Agent in the
order of priority set forth in priorities third, fourth and fifth of Section 4.01(c)
(Withdrawals from the Revenue Account). The Accounts Bank shall promptly notify the
Administrative Agent and the Collateral Agent if, at any time, there are insufficient funds
(without taking into account any Debt Service Reserve Letters of Credit) standing to the credit of
the Debt Service Reserve Account to make the payments required under this Section 8.01(b).

     Section 8.02 Debt Service Letter of Credit. Upon the written instruction of the
Administrative Agent (which will promptly thereafter send a copy of such instruction to the
Borrower), the Collateral Agent shall make a demand in accordance with the provisions of each Debt
Service Reserve Letter of Credit, draw all or a portion of the Stated Amount of any Debt Service
Reserve Letter of Credit that has been delivered in accordance with this Accounts Agreement, and
deposit the funds received into the Debt Service Reserve Account. The Administrative Agent shall
instruct the Collateral Agent to make such demand:

     (a) if amounts are required to be withdrawn from the Debt Service Reserve Account pursuant to
Section 8.01(b), and the amounts to be so withdrawn exceed the funds, not including the
aggregate Stated Amounts of the Debt Service

30

 

Reserve Letters of Credit standing to the credit of the Debt Service Reserve Account, in the
amount necessary to make the payments of Debt Service then due and payable;

     (b) in full, if the commercial bank that issued such Debt Service Reserve Letter of Credit is
no longer an Acceptable Bank; or

     (c) in full, if (A) no less than thirty (30) days prior to the expiry date of each such Debt
Service Reserve Letter of Credit, the Collateral Agent has not received notice from the issuing
bank that it will extend such expiry date or renew such Debt Service Reserve Letter of Credit and
no substitute or replacement letter of credit satisfying the requirements of a “Debt Service
Reserve Letter of Credit” has been delivered to the Collateral Agent to replace the Stated Amount
of such expiring Debt Service Reserve Letter of Credit and (B) excluding the Stated Amount of such
Debt Service Reserve Letter of Credit and the Stated Amount of any other Debt Service Reserve
Letter of Credit that similarly could be drawn, an amount equal to the Debt Service Reserve
Required Amount is not on deposit in or standing to the credit of the Debt Service Reserve Account
on the date of such drawing.

     Section 8.03 Excess in Debt Service Reserve Account. If, on any date, the funds on
deposit in or standing to the credit of the Debt Service Reserve Account (taking into account the
Stated Amounts of any Debt Service Reserve Letters of Credit standing to the credit of the Debt
Service Reserve Account) are in excess of the Debt Service Reserve Required Amount, unless a Notice
of Suspension is in effect or a Default or Event of Default would occur as a result of such
transfer, the Borrower may direct, by delivery of a Debt Service Reserve Release Certificate to the
Accounts Bank (with a copy to the Administrative Agent), the transfer to the Revenue Account of an
amount equal to the difference between (x) the aggregate total amount of all funds on deposit in or
standing to the credit of the Debt Service Reserve Account (taking into account the Stated Amounts
of any Debt Service Reserve Letters of Credit standing to the credit of the Debt Service Reserve
Account) and (y) the Debt Service Reserve Required Amount, as certified by the Borrower and
confirmed by the Administrative Agent in such Debt Service Reserve Release Certificate;
provided, that if such difference is positive due to the posting of a Debt Service Reserve
Letter of Credit to the Debt Service Reserve Account to replace or substitute for cash then on
deposit, such amount may be distributed directly to the Pledgor or such other Affiliate of the
Borrower who provided such Debt Service Reserve Letter of Credit (and such distribution shall not
be treated as a Restricted Payment for purposes of this Accounts Agreement)

31

 

ARTICLE IX

INSURANCE AND CONDEMNATION PROCEEDS ACCOUNTS

     Section 9.01 Insurance and Condemnation Proceeds Accounts.

     (a) Payments into the Insurance and Condemnation Proceeds Accounts. Until the
Security Discharge Date, the Borrower shall cause all Insurance Proceeds and all Condemnation
Proceeds with respect to any Aberdeen Plant to be deposited in or credited to the Aberdeen
Insurance and Condemnation Proceeds Account, and with respect to the Huron Plant to be deposited
in or credited to the Huron Insurance and Condemnation Proceeds Account.

     (b) Withdrawals from the Insurance and Condemnation Proceeds Accounts. The Borrower
shall not make, direct, or request the Accounts Bank to make, any withdrawals from any Insurance
and Condemnation Proceeds Account except as permitted by this Article IX and provided that
no Notice of Suspension has been delivered that has not been withdrawn and no Default or Event of
Default would occur as a result of such transfer or withdrawal.

     (c) Amounts of $2,500,000 or Less. The Borrower may apply any Insurance Proceeds and
Condemnation Proceeds deposited into any Insurance and Condemnation Proceeds Account in amounts
less than or equal to two million five hundred thousand Dollars ($2,500,000) arising from any one
claim or any series of claims relating to the same occurrence directly for the replacement or
repair of damaged assets to which such Insurance Proceeds or Condemnation Proceeds, as the case
may be, relate; provided, that the Borrower delivers to the Administrative Agent and the
Accounts Bank, no fewer than five (5) Business Days in advance of any such proposed transfers or
withdrawals from such Insurance and Condemnation Proceeds Account, an Insurance and Condemnation
Proceeds Request Certificate setting forth proposed instructions for such withdrawals or
transfers. An Authorized Officer of the Borrower shall certify that each Insurance and
Condemnation Proceeds Request Certificate is being delivered, and the withdrawals specified
therein are being directed, in accordance with this Accounts Agreement and the other Transaction
Documents, and shall also certify that the directed withdrawals or transfers will be used
exclusively for repair or replacement of damaged assets to which such Insurance Proceeds or
Condemnation Proceeds, as the case may be, relate.

     (d) Amounts in Excess of $2,500,000 but not Exceeding $15,000,000. Any Insurance
Proceeds and Condemnation Proceeds deposited into any Insurance and Condemnation Proceeds Account
in amounts greater than two million five hundred thousand Dollars ($2,500,000) but less than or
equal to fifteen million Dollars

32

 

($15,000,000) arising from any one claim or any series of claims relating to the same
occurrence shall:

	 	(i)	 	be applied for repair or replacement of
damaged assets to which such Insurance Proceeds or Condemnation
Proceeds, as the case may be, relate in accordance with the
Borrower’s direction in an Insurance and Condemnation Proceeds
Request Certificate delivered to the Administrative Agent and the
Accounts Bank if, within sixty (60) days after the occurrence of the
Casualty Event or Event of Taking (or such later date as may be
acceptable to the Administrative Agent) giving rise to such proceeds,
the Borrower delivers a Restoration or Replacement Plan to the
Administrative Agent and the Independent Engineer with respect to
such Casualty Event or Event of Taking that is based upon, and
accompanied by, each of the following:

	 	(A)	 	a description of the nature
and extent of such Casualty Event or Event of Taking, as the
case may be;
	 
	 	(B)	 	a bona fide assessment (from
a contractor chosen by the Borrower and reasonably acceptable
to the Independent Engineer) of the estimated cost and time
needed to restore or replace the Project to substantially the
same value and general performance capability as prior to such
event;
	 
	 	(C)	 	reasonably satisfactory
evidence that such Insurance Proceeds or Condemnation
Proceeds, as the case may be, are sufficient to make the
necessary restorations or replacements;
	 
	 	(D)	 	a certificate of an
Authorized Officer of the Borrower certifying that (1) all
work contemplated to be done under the Restoration or
Replacement Plan is reasonably expected to be done within the
time periods, if any, required under any Project Document; (2)
all Governmental Approvals necessary to perform the work have
been obtained (or are reasonably expected to be obtained
without undue delay); and (3) the Project once
repaired/restored will continue to perform at the annual
levels set forth in the then-

33

 

	 	 	 	current Operating Budget with respect to production volume,
yield and utility consumption (or other levels approved by
the Required Lenders);
	 
	 	(E)	 	the Casualty Event or Event
of Taking, as the case may be (including the non-operation of
the Project during any period of repair or restoration) has
not resulted or would not reasonably be expected to result in
a default giving rise to a termination of, or a materially
adverse modification of, one or more of the Governmental
Approvals or Project Documents (or, in the case of a default
giving rise to a termination of a Project Document, an
agreement replacing such Project Document, in form and
substance, and with a counterparty, reasonably satisfactory to
the Required Lenders, is entered into (together with all
applicable Ancillary Documents) within forty-five (45) days
thereof (or, such termination could not reasonably be expected
to result in a Material Adverse Effect, within sixty (60) days
thereof));
	 
	 	(F)	 	after taking into
consideration the availability of such Insurance Proceeds or
Condemnation Proceeds, as applicable, and Business
Interruption Insurance Proceeds and any additional funded
equity contributions for the purpose of covering such costs,
there will be adequate amounts available to pay all ongoing
expenses including Debt Service during the period of repair or
restoration;
	 
	 	(G)	 	construction contractors and
vendors of recognized skill, reputation and creditworthiness
and reasonably acceptable to the Required Lenders and the
Independent Engineer have executed reconstruction contracts,
purchase orders or similar arrangements for the repair,
rebuilding or restoration on terms and conditions reasonably
acceptable to the Administrative Agent and the Independent
Engineer; and
	 
	 	(H)	 	a confirmation by the
Independent Engineer of its agreement with the matters set
forth in Section 9.01(d)(i)(A)-(G) and its approval of
such Restoration

34

 

	 	 	 	or Replacement Plan, which approval will not be unreasonably
withheld, conditioned or delayed; or

	 	(ii)	 	Mandatory Prepayment. If (A) the
Borrower does not deliver such Restoration or Replacement Plan and
the accompanying deliveries referred to in Section 9.01(d)(i)
within such sixty (60) day period, or (B) after such Restoration or
Replacement Plan is effected, there are excess Insurance Proceeds or
Condemnation Proceeds, as the case may be, on deposit in or standing
to the credit of such Insurance and Condemnation Proceeds Account,
the Accounts Bank shall on the next succeeding Quarterly Payment Date
thereafter, upon the written instruction of the Borrower or the
Administrative Agent, transfer to the Administrative Agent, for the
account of the Lenders, an amount equal to such Insurance Proceeds or
Condemnation Proceeds, as the case may be, for mandatory prepayment
of the Loans in accordance with Section 3.08(a) or (b) (as
applicable) (Mandatory Prepayment) of the Credit Agreement.

     (e) Amounts Exceeding $15,000,000. Any Insurance Proceeds or Condemnation Proceeds
deposited into any Insurance and Condemnation Proceeds Account in amounts greater than fifteen
million Dollars ($15,000,000) arising from any one claim or any series of claims relating to the
same occurrence shall be applied, at the written instruction of the Administrative Agent, to the
Administrative Agent to prepay the Loans or for repair or replacement of damaged assets, as
determined by the Required Lenders in their sole discretion.

ARTICLE X

EXTRAORDINARY PROCEEDS ACCOUNT

     Section 10.01 Extraordinary Proceeds Account.

     (a) Payments into the Extraordinary Proceeds Account. Until the Security Discharge
Date, the Borrower shall cause (i) all proceeds of asset disposals (other than proceeds from the
sale of Products) that will not be used for replacement in accordance with Section 7.02(f)(i)
(Negative Covenants — Asset Dispositions) of the Credit Agreement and (ii) all Project Document
Termination Payments to be deposited into the Extraordinary Proceeds Account.

35

 

     (b) Withdrawals from the Extraordinary Proceeds Account — Asset Disposal. If at any
time proceeds of an asset disposal are deposited into the Extraordinary Proceeds Account, then on
any Quarterly Payment Date:

	 	(i)	 	if such proceeds are in an amount in the
aggregate of less than one million Dollars ($1,000,000) (taken
together with any other proceeds of asset disposals deposited in the
Extraordinary Proceeds Account during the then-current Fiscal Year)
the Borrower may submit an Extraordinary Proceeds Release Certificate
to the Accounts Bank, certified by an Authorized Officer of the
Borrower, directing the transfer of such funds to the Revenue
Account; and
	 
	 	(ii)	 	if such proceeds are in an amount equal to
or greater than one million Dollars ($1,000,000) (taken together with
any other proceeds of asset disposals deposited in the Extraordinary
Proceeds Account during the then-current Fiscal Year), such amounts
in excess of one million Dollars ($1,000,000) shall be transferred,
upon the written instruction of the Borrower or the Administrative
Agent, to the Administrative Agent for application as a prepayment of
the Loans in accordance with Section 3.08(d) (Mandatory Prepayment)
of the Credit Agreement.

	(c)	 	Withdrawals from the Extraordinary Proceeds Account — Project Document Termination
Payments. If at any time Project Document Termination Payments are deposited into the
Extraordinary Proceeds Account, then on any Quarterly Payment Date:

	 	(i)	 	if such Project Document Termination
Payments are in an amount in the aggregate of less than three million
Dollars ($3,000,000) (taken together with any other Project Document
Termination Payments received during the then-current Fiscal Year),
the Borrower may submit an Extraordinary Proceeds Release Certificate
to the Accounts Bank, certified by an Authorized Officer of the
Borrower, directing the transfer of such Project Document Termination
Payments to the Revenue Account; and
	 
	 	(ii)	 	if such Project Document Termination
Payments are in an amount equal to or greater than three million
Dollars

36

 

	 	 	 	($3,000,000) (taken together with any other Project Document
Termination Payments received during the then-current Fiscal
Year), such amounts in excess of three million Dollars
($3,000,000) shall be transferred, upon the written instruction of
the Borrower or the Administrative Agent, to the Administrative
Agent for application as a prepayment of the Loans in accordance
with Section 3.08(c) (Mandatory Prepayment) of the Credit
Agreement.

ARTICLE XI

GENERAL PROVISIONS RELATING TO THE PROJECT ACCOUNTS

     Section 11.01 No Security Interests. The Borrower shall not at any time create or
permit to subsist any Lien (other than (a) until the Security Discharge Date, first-priority Liens
in favor of the Collateral Agent, for the benefit of the Senior Secured Parties, arising under this
Accounts Agreement or the other Security Documents and (b) Permitted Liens) on all or any part of
any of the Project Accounts or the Account Collateral, or assign, transfer or otherwise dispose of
all or any part of its right or title to any of the Project Accounts or the Account Collateral
other than in accordance with, or as permitted by, the terms of this Accounts Agreement or the
other Financing Documents.

     Section 11.02 Borrower Acknowledgments. (a) The Borrower acknowledges that neither
any insufficiency of funds in the Project Accounts (or any of them), nor any inability to apply any
funds in the Project Accounts (or any of them) against any or all amounts owing under the Credit
Agreement or any other Financing Document, shall at any time limit, reduce or otherwise affect the
Borrower’s Obligations under the Credit Agreement or any other Financing Document.

     (b) Each party to this Accounts Agreement acknowledges that none of the Accounts Bank, the
Collateral Agent or any other Senior Secured Party shall incur any obligation or liability in
circumstances where there are insufficient funds deposited in or credited to any Project Account
to make a payment in full that would otherwise have been made pursuant to the terms of this
Accounts Agreement, except (in the case of the Accounts Bank) to the extent that the loss arises
directly from the Accounts Bank’s gross negligence or willful misconduct.

     Section 11.03 Further Assurances. (a) The Borrower shall, at any time and from time
to time at the first demand of the Accounts Bank or the Collateral Agent and at the sole cost and
expense of the Borrower, promptly and duly execute and deliver, or otherwise authenticate, all
further instruments and documents, and take all further action, that may be necessary or required
under applicable Law or that the Accounts

37

 

Bank or the Collateral Agent may reasonably request, in order to perfect and protect any
pledge or security interest granted or purported to be granted hereunder or to enable each of the
Accounts Bank, the Collateral Agent, on behalf of the Senior Secured Parties, to exercise and
enforce its rights and remedies hereunder with respect to any Account Collateral.

     (b) Without limiting the generality of the foregoing, the Borrower will promptly, with
respect to the Account Collateral:

	 	(i)	 	execute or authenticate and file such UCC
financing or continuation statements, or amendments thereto, and such
other instruments or notices, as may be necessary, or as the Accounts
Bank, the Collateral Agent or the Administrative Agent may reasonably
request, in order to perfect and preserve the security interests
granted or purported to be granted hereunder;
	 
	 	(ii)	 	take all action necessary to ensure that
the Collateral Agent, for the benefit of the Senior Secured Parties,
has control of the Account Collateral as provided in Sections 8-106,
9-104, 9-106 and any other applicable Section of the UCC;
	 
	 	(iii)	 	take all action necessary to ensure that
the Collateral Agent, for the benefit of the Senior Secured Parties,
has a first-priority perfected security interest in all Account
Collateral described in Section 2.06 (Grant of First-Priority
Security Interest) under the laws of the jurisdiction in which
the Borrower is located (within the meaning of Section 9-307 of the
UCC);
	 
	 	(iv)	 	deliver to the Collateral Agent or the
Administrative Agent evidence that all other action that the Accounts
Bank, the Administrative Agent or the Collateral Agent may deem
reasonably necessary in order to perfect and protect the security
interest created by the Borrower under this Accounts Agreement has
been taken.

     (c) No provision in Section 11.03(b) shall be deemed to limit the provisions in
Section 11.03(a).

     (d) The Borrower hereby authorizes the Administrative Agent and the Collateral Agent to file
one or more UCC financing or continuation statements, and

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amendments thereto, relating to all or any part of the Account Collateral without the
signature of the Borrower where permitted by applicable Law.

     Section 11.04 UCC Termination Statements. At the request of the Borrower, upon the
Notice of Security Discharge Date, the Collateral Agent will, at the sole cost and expense of the
Borrower, file UCC termination statements terminating the existing UCC financing statements filed
by the Collateral Agent pursuant to the Financing Documents.

ARTICLE XII

INTEREST AND INVESTMENTS

     Section 12.01 Investments. (a) Each amount deposited in or credited to a Project
Account from time to time shall, from the time it is so deposited or credited until the time it is
withdrawn from that Project Account (whether for the purpose of making an investment in Cash
Equivalents or otherwise applied in accordance with the terms of this Accounts Agreement), earn
interest at such rates as may be agreed from time to time by the Borrower and the Accounts Bank.

     (b) Prior to the receipt by the Accounts Bank of a Notice of Suspension, any amounts held by
the Accounts Bank in the Project Accounts shall be invested by the Accounts Bank from time to
time, at the risk and expense of the Borrower, solely in such Cash Equivalents as an Authorized
Officer of the Borrower shall direct in writing (which may be in the form of a standing
instruction). The Borrower shall select Cash Equivalents having such maturities as shall cause
the Project Accounts to have a cash balance as of any day sufficient to cover the transfers to be
made from the Project Accounts on such day in accordance with this Accounts Agreement, the Credit
Agreement, the other Financing Documents, the Project Documents and any Additional Project
Documents. Upon delivery by the Collateral Agent to the Accounts Bank of a Notice of Suspension
and until written revocation of such Notice of Suspension is delivered to the Accounts Bank by the
Collateral Agent, any amounts held by the Accounts Bank in the Project Accounts shall be invested
by the Accounts Bank from time to time, solely in such Cash Equivalents as the Collateral Agent or
the Administrative Agent, in its sole discretion, may direct; provided that the Accounts
Bank’s obligation to invest such amounts is conditioned upon receipt by the Accounts Bank of a
valid United States Department of the Treasury Internal Revenue Service tax Form W-9 in accordance
with Section 12.03(b) (Interest and Investment Income). Neither the Collateral Agent, the
Accounts Bank nor the Administrative Agent shall be liable for any loss resulting from any Cash
Equivalents (or any investment or reinvestment therein or liquidation or redemption thereof) from
any Project Account or the sale or redemption thereof except to the extent that such loss results
solely from the

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gross negligence or willful misconduct of the Collateral Agent, the Accounts Bank or the
Administrative Agent, as the case may be, it being understood and agreed that in no event shall
any of the Administrative Agent, the Accounts Bank or the Collateral Agent, as the case may be, be
liable for any loss resulting from any investment made, or any sale or redemption of any
investment made, in accordance with instructions received from the Borrower, the Collateral Agent
or the Administrative Agent, as the case may be, or failure to receive written direction as
required hereunder, or in accordance with Section 12.02 (Sale and Liquidation) hereof.

     Section 12.02 Sale and Liquidation. In the event that the cash balance in any of the
Project Accounts is as of any day insufficient to cover the transfers to be made from such Project
Account on such day (and if advised in writing by the Administrative Agent or the Borrower of such
circumstances), the Collateral Agent may (but shall not be obligated to) direct the Accounts Bank,
without instructions from the Borrower, to sell or liquidate the Cash Equivalents standing to the
credit of such Project Account (without regard to maturity date) in such manner as the Collateral
Agent may direct in order to obtain cash at least sufficient to make such transfers and to pay any
expenses and charges incurred in connection with effecting any such sale or liquidation, which
expenses and charges the Accounts Bank shall be authorized to pay with cash on deposit in such
Project Account. Neither the Accounts Bank, the Collateral Agent nor any other Senior Secured
Party shall be liable to any Person for any loss suffered because of any such sale or liquidation.

     Section 12.03 Interest and Investment Income. (a) All interest and other investment
income earned from investments in Cash Equivalents made from amounts in any Project Account shall
remain in such Project Account until transferred from such Project Account in accordance with the
terms of this Accounts Agreement.

     (b) It is acknowledged by the parties hereto that all investment income earned on amounts on
deposit in or credited to the Project Accounts for all Tax purposes shall be attributed to and be
income of the Borrower. The Borrower shall be responsible for determining any requirements for
paying Taxes or reporting or withholding any payments for Tax purposes hereunder. The Borrower
shall prepare and file all Tax information required with respect to the Project Accounts. The
Borrower agrees to indemnify and hold each Senior Secured Party harmless against all liability for
Tax withholding and/or reporting for any investment income earned on the Project Accounts and
payments in respect thereof. Such indemnities shall survive the termination or discharge of this
Accounts Agreement or resignation of the Accounts Bank. None of the Collateral Agent, the
Accounts Bank or any Senior Secured Party shall have any obligation with respect to the making of
or the reporting of any payments for Tax purposes. From time to time, and as reasonably requested
by the Accounts Bank, the Borrower shall provide to the Accounts Bank a United States Department
of the

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Treasury Internal Revenue Service tax Form W-9 or other appropriate form required with
respect to the withholding or exemption from withholding of income tax on any investment income
earned on the Project Accounts. The Accounts Bank shall be entitled to rely on an opinion of
legal counsel (which may be counsel to the Borrower) in connection with the reporting of any
earnings with respect hereto.

     Section 12.04 Accounts Information. (a) The Accounts Bank will:

	 	(i)	 	within ten (10) Business Days after the end
of the month in which the first deposit is made into any Project
Account and within ten (10) Business Days after the end of each month
thereafter, provide the Borrower, the Collateral Agent and the
Administrative Agent a report with respect to the Project Accounts,
setting forth in reasonable detail all deposits to and disbursements
from each of the Project Accounts during such month, including the
date on which made, and the balances of and any investments in each
of the Project Accounts at the end of such month, including
information regarding categories, amounts, maturities and issuers of
Cash Equivalents; and
	 
	 	(ii)	 	within ten (10) Business Days after receipt
of any written request by the Borrower, the Collateral Agent or the
Administrative Agent, provide to the Borrower, the Collateral Agent
or the Administrative Agent, as the case may be, such other
information as the Borrower, the Collateral Agent or the
Administrative Agent, as the case may be, may reasonably specify
regarding all Cash Equivalents and any other investments made by the
Accounts Bank pursuant hereto and regarding amounts available in the
Project Accounts.

     (b) The Accounts Bank will maintain all of the Project Accounts and all books and records
with respect thereto as may be necessary to record properly all transactions carried out by it
under this Accounts Agreement.

     (c) If any Cash Equivalent ceases to be a Cash Equivalent, the Accounts Bank will, as soon as
reasonably practicable after becoming aware of such cessation, notify the Collateral Agent and the
Borrower in writing of such cessation and, upon the written direction of the Borrower (or, if the
Borrower fails to provide direction within three (3) Business Days of the date of the Accounts
Bank’s notice, upon the written direction of the Collateral Agent), will cause the relevant
investment to be

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replaced by a Cash Equivalent or by cash; provided that this Section 12.04(c)
will not oblige the Accounts Bank to liquidate any investment earlier than its normal maturity
date unless:

	 	(i)	 	directed to do so under Section 12.02
(Sale and Liquidation); or
	 
	 	(ii)	 	the maturity date of the relevant
investment exceeds the maturity date that would enable it to continue
to qualify as a Cash Equivalent.

ARTICLE XIII

DEFAULT AND ENFORCEMENT

     Section 13.01 Notices of Suspension of Project Accounts. (a) The Collateral Agent
may, but shall not be required to, suspend the right of the Accounts Bank and the Borrower to
withdraw or otherwise deal with any funds deposited in or credited to the Project Accounts at any
time during the occurrence and continuance of an Event of Default by delivering a notice to the
Accounts Bank (with a copy to the Borrower and the Administrative Agent) (a “Notice of
Suspension”).

     (b) Notwithstanding any other provision of the Credit Agreement or any other Financing
Document, after the issuance by the Collateral Agent of a Notice of Suspension in accordance with
Section 13.01(a) and until such time as the Collateral Agent advises the Accounts Bank and
the Borrower in writing that it has withdrawn such Notice of Suspension, no amount may be
withdrawn by the Accounts Bank from any Project Account, including for investment in Cash
Equivalents, without the express prior written consent of the Collateral Agent.

     (c) For the avoidance of doubt, the withdrawal of a Notice of Suspension by the Collateral
Agent shall not affect any other Notice of Suspension that it may have issued.

     Section 13.02 Collateral Agent Appointed Attorney-in-Fact. The Borrower hereby
irrevocably constitutes and appoints the Collateral Agent and any officer or agent thereof, with
full power of substitution, as its true and lawful attorney-in-fact (which appointment as
attorney-in-fact shall be coupled with an interest), with full authority, if a Notice of Suspension
has been delivered to the Accounts Bank and until such Notice of Suspension has been withdrawn, to
take any action and to execute any and all documents and instruments in the place and stead of the
Borrower and in the name of the Borrower or otherwise, that the Collateral Agent may deem necessary
or advisable to

42

 

accomplish the purposes of this Accounts Agreement in a commercially reasonable manner to the
extent required by the UCC, without notice to the Borrower, including:

     (a) if an Event of Default has occurred and is continuing, to exercise the rights and
remedies set forth in this Accounts Agreement and the other Financing Documents;

     (b) to take any action that the Collateral Agent may, in its discretion and at the Borrower’s
expense, deem necessary or appropriate (i) to perfect, maintain and enforce any security interest
or other Lien created in favor of the Collateral Agent, for the benefit of the Senior Secured
Parties, (ii) to create, perfect, maintain and enforce any security interest or other Lien granted
or purported to be granted hereby or (iii) to otherwise accomplish the purposes of this Accounts
Agreement;

     (c) to receive, endorse and collect all funds or other property in which the Borrower has an
interest and that would constitute Account Collateral under the terms of this Accounts Agreement,
in each case representing any proceeds, dividends, interest payments or other distributions
constituting Account Collateral or any part thereof and to give full discharge for the same and to
file any claim or to take any other action or proceeding in any court of law or equity or
otherwise deemed necessary or appropriate by the Collateral Agent for the purpose of collecting
any and all of such proceeds, dividends, payments or other distributions;

     (d) to pay or discharge Taxes and Liens levied or placed on the Account Collateral;

     (e) (i) to direct any party liable for any payment under or with respect to any of the
Account Collateral to make payment of any and all moneys due or to become due thereunder or with
respect thereto directly to the Collateral Agent or as the Collateral Agent may direct, (ii) to
ask or make, demand for, collect, receive payment of and receipt for, any and all moneys, claims
and other amounts due or to become due at any time in respect of or arising out of any of the
Account Collateral, (iii) to commence and prosecute any suits, actions or proceedings at law or in
equity in any court of competent jurisdiction to collect the Account Collateral or any part
thereof and to enforce any other right in respect of any of the Account Collateral, (iv) to defend
any suit, action or proceeding brought against the Borrower with respect to any of the Account
Collateral and (v) to settle, compromise or adjust any suit, action or proceeding described in
Section 13.02(e)(iii) and (iv) and, in connection therewith, to give such
discharges or releases as the Collateral Agent may deem appropriate;

     (f) to execute, in connection with any sale, lease, license or other disposition permitted to
be made by the Collateral Agent hereunder, any endorsements,

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assignments, transfer statements or other instruments of conveyance or transfer with respect
to the Account Collateral, and to file or register the same if required by applicable Law; and

     (g) to communicate in its own name with any party to any agreement or instrument included in
the Account Collateral, at any reasonable time, with regard to any matter relating to such
agreement or instrument.

     Section 13.03 Enforcement. (a) Notwithstanding any other provision of the Credit
Agreement or any other Financing Document, the Collateral Agent or its designee may, on behalf of
the Senior Secured Parties, at any time during the occurrence and continuance of an Event of
Default, and following delivery of a Notice of Suspension that has not been withdrawn (provided
that any failure to deliver such notice shall not affect the validity of any actions taken under
this Section 13.03(a)) take enforcement action with respect to the Account Collateral, as
provided in Article VI (Remedies Upon a Security Event of Default) of the Security Agreement.
Without limitation and in addition to any and all rights with respect to the Account Collateral
under the Credit Agreement or any other Financing Document, the Collateral Agent may take
enforcement action by:

	 	(i)	 	personally, or by attorneys, taking
possession of the Account Collateral or any part thereof, from the
Accounts Bank, the Borrower or any other Person that then has
possession of any part thereof with or without notice or process of
law;
	 
	 	(ii)	 	instructing any obligor, guarantor or
counterparty to any agreement, instrument or other obligation in
respect of or relating to the Borrower or the Account Collateral to
make any payment required by the terms of such agreement, instrument
or obligation directly to the Collateral Agent or the Administrative
Agent, for the benefit of the Senior Secured Parties;
	 
	 	(iii)	 	taking possession of the Account
Collateral or any part thereof by directing the Accounts Bank or the
Borrower, as the case may be, to deliver the same to the Collateral
Agent, for the benefit of the Senior Secured Parties, at any place or
places designated by the Collateral Agent, it being understood that
the Accounts Bank’s and the Borrower’s obligations to so deliver the
Account Collateral are of the essence of this Accounts Agreement and
that, accordingly,

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	 	 	 	upon application to a court of equity having jurisdiction, the
Collateral Agent, for the benefit of the Senior Secured Parties,
shall be entitled to a decree requiring specific performance by
the Accounts Bank or the Borrower, as the case may be, of such
obligations;
	 
	 	(iv)	 	foreclosing on the Account Collateral as
herein provided or in any manner permitted by applicable Law
(including through any permitted non-judicial foreclosure) either
concurrently or in such order as the Collateral Agent may determine
without affecting the rights or remedies to which the Collateral
Agent, for the benefit of the Senior Secured Parties, may be entitled
under this Accounts Agreement, the Credit Agreement, or any other
Financing Document. The Borrower hereby waives, to the extent
permitted by applicable Law, notice and judicial hearing in
connection with the Collateral Agent’s taking possession or
commencing any collection, recovery, receipt, appropriation,
repossession, retention, set-off, sale, leasing, licensing,
conveyance, assignment, transfer, liquidation, or other disposition
of or realization upon any or all of the Account Collateral,
including any and all prior notice and hearing for any prejudgment
remedy or remedies and any right to any such notice which the
Borrower would otherwise have under applicable Law;
	 
	 	(v)	 	withdrawing any and all cash and
liquidating any and all Cash Equivalents that are part of the Account
Collateral and applying such cash, the liquidation proceeds of Cash
Equivalents and other cash, if any, then held as Account Collateral
in accordance with Section 13.04 (Application of Proceeds);
	 
	 	(vi)	 	selling, assigning or otherwise liquidating
the Account Collateral, or any part thereof, at a public or private
sale, for cash, upon credit or for future delivery, and at such
prices as the Collateral Agent may deem satisfactory, and taking
possession of the proceeds of any such sale or liquidation.

     (b) Notwithstanding anything to the contrary in this Accounts Agreement, the Credit Agreement
or any other Financing Document, the Borrower

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acknowledges that if an Event of Default has occurred and is continuing, and following
delivery of a Notice of Suspension that has not been withdrawn (provided that any failure to
deliver such notice shall not affect the validity of any actions taken under this Section
13.03(b)), the Collateral Agent, on behalf of the Senior Secured Parties, is entitled to apply
amounts deposited in or credited to any Project Account as contemplated in Section 13.04
(Application of Proceeds).

     (c) The Accounts Bank shall promptly comply with any instruction given by the Collateral
Agent as contemplated by Section 2.01 (Appointment) (without reference to any inconsistent
request or instruction from the Borrower or otherwise).

     (d) The Collateral Agent may, during the continuance of an Event of Default, and at any time
following the delivery of a Notice of Suspension and until such notice has been withdrawn
(provided that any failure to deliver such notice shall not affect the validity of any actions
taken under this Section 13.03), exercise its rights under this Section 13.03 as
frequently, and as many times, as it considers appropriate.

     Section 13.04 Application of Proceeds. Upon the occurrence and during the
continuation of an Event of Default, the proceeds of any sale of, or other realization upon, all or
any part of the Account Collateral shall be applied in accordance with Section 8.04 (Application of
Proceeds) of the Credit Agreement. The Borrower shall remain liable for any deficiency in
accordance with the respective Financing Documents to which it is a party.

     Section 13.05 Collateral Agent’s Discretionary Powers. Nothing in this Article
XIII shall impair the right of the Collateral Agent in its discretion to take or omit to take
any action deemed proper by the Collateral Agent and which action or omission is consistent with
any express written direction of the Administrative Agent or with the express provisions of this
Accounts Agreement. The Collateral Agent shall have the right at any time to seek instructions
from the Administrative Agent concerning the administration of this Accounts Agreement, and to
request, and receive, direction from the Administrative Agent regarding the enforcement actions set
forth in Section 13.03 (Enforcement).

     Section 13.06 Regarding the Collateral Agent and the Administrative Agent. The
Collateral Agent and the Administrative Agent shall be afforded all of the rights, powers,
protections, immunities and indemnities set forth in the Credit Agreement and, in the case of the
Collateral Agent, the Security Agreement as if the same were specifically set forth herein.

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ARTICLE XIV

THE ACCOUNTS BANK

     Section 14.01 Duties of the Accounts Bank and Securities Intermediary. (a) The
Accounts Bank, acting as Securities Intermediary, will have the obligations of a securities
intermediary under Article 8 of the UCC, and acting as a bank with respect to the Project Accounts,
will have the obligations of a bank under Article 9 of the UCC. The Accounts Bank will also have
those duties and responsibilities expressly set forth in this Accounts Agreement, and no additional
duties, responsibilities, obligations or liabilities shall be inferred from the provisions of this
Accounts Agreement or imposed on the Accounts Bank. The Accounts Bank will act at the written
direction of the Collateral Agent, the Administrative Agent and, as expressly provided in this
Accounts Agreement, the Borrower, but will not be required to take any action that is contrary to
this Accounts Agreement or applicable Law or that, in its reasonable judgment, would involve it in
expense or liability, unless it has been furnished with adequate indemnity and/or security against
such expense or liability. The Accounts Bank will have no responsibility to ensure the performance
by any other party of its duties and obligations hereunder. The Accounts Bank will use the same
care with respect to the safekeeping and handling of property held in the Project Accounts as the
Accounts Bank uses in respect of property held for its own sole benefit. The provisions of this
Article XIV are solely for the benefit of the Accounts Bank, the Collateral Agent and the
Senior Secured Parties.

     (b) In performing its functions and duties under this Accounts Agreement, the Accounts Bank
will act solely as the depository of the Collateral Agent, for the benefit of the Senior Secured
Parties, and as Securities Intermediary or as a bank, as the case may be, with respect to the
Project Accounts for the benefit of the Collateral Agent, for the benefit of the Senior Secured
Parties. The Accounts Bank does not assume and will not be deemed to have assumed any obligation
toward or relationship of agency or trust with or for the Borrower or any Person other than the
Collateral Agent. None of the Senior Secured Parties or the Borrower will have any rights against
the Accounts Bank hereunder, other than for the Accounts Bank’s gross negligence or willful
misconduct. Except as otherwise expressly provided in this Accounts Agreement, the Borrower will
not have any right to direct the Accounts Bank to distribute or allocate any funds, instruments,
securities, financial assets or other assets in the Project Accounts or to withdraw or transfer
any funds, instruments, securities, financial assets or other assets from the Project Accounts.
Except as otherwise expressly provided in this Accounts Agreement, the Collateral Agent, on behalf
of the Senior Secured Parties, will have the sole right to issue directions and instructions to
the Accounts Bank, acting as Securities Intermediary or bank, as the case may be, in accordance
with this Accounts Agreement, and to issue entitlement orders with respect

47

 

to the Project Accounts. It is expressly understood and agreed that any investment made with
funds held in the Project Accounts may be made only in accordance with the express provisions of
Section 12.01 (Investments) and, when an investment is so made, it is expressly understood
and agreed that such investment was made with the permission of the Collateral Agent in the
exercise of its exclusive possession of, and dominion and control over, the Project Accounts,
which it maintains through the Accounts Bank. The Accounts Bank shall not in any way whatsoever
be liable for any loss or depreciation in the value of any investments made pursuant to the terms
of this Accounts Agreement.

     Section 14.02 Exculpatory Provisions. (a) Neither the Accounts Bank nor any of its
directors, officers, employees or agents will have any duties or obligations except those expressly
set forth herein or required by applicable law. Without limiting the generality of the foregoing,
the Accounts Bank shall not:

	 	(i)	 	be subject to any fiduciary or other
implied duties, regardless of whether a Default or Event of Default
has occurred and is continuing;
	 
	 	(ii)	 	have any duty to take any discretionary
action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated hereby that the Accounts
Bank is required to exercise as directed in writing by the Collateral
Agent, the Administrative Agent or the Required Lenders;
provided that the Accounts Bank shall not be required to take
any action that, in its opinion or the opinion of its counsel, may
expose the Accounts Bank to liability or that is contrary to any
Financing Document or applicable Law; and provided
further that no such direction given to the Accounts Bank
that in the sole judgment of the Accounts Bank imposes, or purports
to impose, or might reasonably be expected to impose upon the
Accounts Bank any obligation or liability not set forth herein or
arising hereunder shall be binding upon the Accounts Bank unless the
Accounts Bank, in its sole discretion, accepts such direction;
	 
	 	(iii)	 	except as expressly set forth herein, have
any duty to disclose, nor shall the Accounts Bank be liable for any
failure to disclose, any information relating to the Borrower or any
of its Affiliates that is communicated to or obtained

48

 

	 	 	 	by the Accounts Bank or any of its Affiliates in any capacity; or
	 
	 	(iv)	 	be required to institute any legal
proceedings arising out of or in connection with, or otherwise take
steps to enforce, this Accounts Agreement other than on the
instructions of the Required Lenders or the Administrative Agent;

     (b) Neither the Accounts Bank nor any of its directors, officers, employees or agents shall
be liable for any action taken or not taken by it (i) with the prior written consent or at the
request of the Collateral Agent, the Administrative Agent or the Required Lenders, (ii) as may be
reasonably necessary, or as the Accounts Bank may believe in good faith to be necessary, under the
circumstances as provided in Section 2.01 (Appointment by Collateral Agent) and
Section 2.02 (Limitation of Liability) or (iii) in the absence of its own gross negligence
or willful misconduct.

     (c) Neither the Accounts Bank nor any of its directors, officers, employees or agents shall
be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with this Accounts Agreement, the Credit Agreement or any
other Financing Document, (ii) the contents of any certificate, report, opinion or other document
delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or
observance of any of the covenants, agreements or other terms or conditions set forth herein or
therein (including the use of proceeds) or the occurrence or continuance of any Default or Event
of Default, (iv) the validity, enforceability, effectiveness, genuineness or admissibility in
evidence of this Accounts Agreement, the Credit Agreement, any other Financing Document, or any
other agreement, instrument or document, or the perfection or priority of any Lien or security
interest created or purported to be created by any Security Document (or title to or rights in any
collateral under any Security Document), or (v) the satisfaction of any condition set forth in
ARTICLE VI (Conditions Precedent) of the Credit Agreement or elsewhere herein or therein, other
than to confirm receipt of items expressly required to be delivered to the Accounts Bank.

     (d) The Accounts Bank may, unless and until it shall have received directions from the
Required Lenders or the Administrative Agent, take such action or refrain from taking such action
in respect of a Default or Event of Default of which the Accounts Bank has been advised in writing
by the Required Lenders or the Administrative Agent as it shall reasonably deem advisable in the
best interests of the Lenders (but shall not be obligated to do so).

     Section 14.03 Reliance by Accounts Bank. The Accounts Bank shall be entitled to rely
upon, and shall not (nor shall any of its directors, officers, employees or

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agents) incur any liability for relying upon, any notice, request, certificate, consent,
statement, instrument, document or other writing (including any electronic message, internet or
intranet website posting or other distribution) believed by it to be genuine and to have been
signed, sent or otherwise authenticated by the proper Person. The Accounts Bank also may rely upon
any statement made to it orally or by telephone and believed by it to have been made by the proper
Person, and shall not incur any liability for relying thereon. The Accounts Bank may consult with
legal counsel (who may be counsel for the Borrower), independent accountants and other experts
selected by it, and shall not be liable for any action taken or not taken by it in accordance with
the advice of any such counsel, accountants or experts. The Accounts Bank may at any time and from
time to time solicit written instructions in the form of directions from the Administrative Agent,
the Collateral Agent or the Required Lenders or an order of a court of competent jurisdiction, as
to any action that it may be requested or required to take, or that it may propose to take, in the
performance of any of its obligations under this Accounts Agreement.

     Section 14.04 Written Instructions; Notices. (a) Notwithstanding anything in this
Accounts Agreement, the Credit Agreement, any other Financing Document to the contrary, the
Accounts Bank shall have no obligation to (i) make any payment, transfer or withdrawal from any
Project Account until it has received written direction to make such payment, transfer or
withdrawal from the Administrative Agent, the Collateral Agent or the Borrower as set forth herein
or (ii) determine whether any payment, transfer or withdrawal from any Project Account made in
accordance with any written direction from the Administrative Agent, the Collateral Agent or the
Borrower complies with the terms of this Accounts Agreement. The Accounts Bank shall have no
liability for, nor any responsibility or obligation to confirm, the use or application by the
Borrower, the Collateral Agent or the Administrative Agent or any other recipient of amounts
withdrawn or transferred from any Project Account.

     (b) Except as otherwise provided in this Accounts Agreement, the Accounts Bank shall take
action under this Accounts Agreement only as it shall be directed in writing by the Collateral
Agent or the Administrative Agent. In each case that the Accounts Bank may or is required under
the other Financing Documents to take any action (an “Accounts Bank Action”), including
without limitation to make any determination or judgment, to give consents, to exercise rights,
powers or remedies or otherwise to act hereunder, under any other Financing Document, the Accounts
Bank may seek direction from the Collateral Agent or the Administrative Agent and shall be
entitled to refrain from such Accounts Bank Action unless and until it has received such direction
and shall not incur any liability to any Person by reason of so refraining.

     Section 14.05 Resignation or Removal of Accounts Bank. (a) The Accounts Bank may
resign from the performance of all its functions and duties hereunder

50

 

at any time by giving thirty (30) days’ prior notice to the Borrower and the Collateral Agent.
The Accounts Bank may be removed (i) at any time by the Administrative Agent or the Required
Lenders, or (ii) in the event of a material breach by the Accounts Bank of its duties hereunder,
by the Borrower in consultation with the Administrative Agent. Such resignation or removal shall
take effect upon the appointment of a successor Accounts Bank, in accordance with this Section
14.05.

     (b) Upon the notice of resignation by the Accounts Bank or upon the removal of the Accounts
Bank pursuant to Section 14.05(a), the Administrative Agent shall appoint a successor
Accounts Bank hereunder, who shall be a commercial bank having a combined capital and surplus of
at least two hundred fifty million Dollars ($250,000,000). So long as no Event of Default has
occurred and is continuing, such appointment shall be subject to the Borrower’s approval (such
approval not to be unreasonably withheld or delayed).

     (c) If no successor Accounts Bank has been appointed by the Administrative Agent within
thirty (30) days after the date such notice of resignation was given by the Accounts Bank or the
date on which the Administrative Agent, the Required Lenders or the Borrower elected to remove the
Accounts Bank, pursuant to Section 14.05(a), any Senior Secured Party may petition any
court of competent jurisdiction for the appointment of a successor Accounts Bank. Such court may
thereupon, after such notice, if any, as it may deem proper, appoint a successor Accounts Bank who
shall serve as Accounts Bank hereunder until such time, if any, as the Administrative Agent
appoints a successor Accounts Bank, as provided above.

     (d) Upon the acceptance of a successor’s appointment as Accounts Bank hereunder, such
successor shall succeed to and become vested with all of the rights, powers, privileges and duties
of the retiring (or removed) Accounts Bank, and the retiring (or removed) Accounts Bank shall be
discharged from all of its duties and obligations hereunder. After the retirement or removal of
the Accounts Bank hereunder, the provisions of this Article XIV shall continue in effect
for the benefit of the retiring (or removed) Accounts Bank in respect of any actions taken or
omitted to be taken by it while the retiring or removed Accounts Bank was acting as Accounts Bank.

     (e) The retiring or removed Accounts Bank will promptly transfer all of the Project Accounts
and the Account Collateral to the possession or control of the successor Accounts Bank and will,
at the sole cost and expense of the Borrower, execute and deliver such notices, instructions and
assignments as may be reasonably necessary or desirable to transfer the rights of the Accounts
Bank, together with all records and reports, with respect to the Project Accounts and the Account
Collateral to the successor Accounts Bank.

51

 

     Section 14.06 No Amendment to Duties of Accounts Bank Without Consent. The Accounts
Bank shall not be bound by any waiver, amendment, supplement or modification of this Accounts
Agreement that affects its rights or duties hereunder or thereunder unless the Accounts Bank shall
have given its prior written consent, in its capacity as Accounts Bank, thereto.

ARTICLE XV

REPRESENTATIONS AND WARRANTIES

     Section 15.01 Representations and Warranties. The Borrower represents and warrants as
of the date of this Accounts Agreement that:

     (a) it is the legal and beneficial owner of the Account Collateral free and clear of any
Lien, claim, encumbrance, option or right of others, except for the first-priority security
interest and other rights created under or provided for in this Accounts Agreement and the other
Financing Documents and other Permitted Liens, and has the power and authority to pledge the
Account Collateral pledged by it hereunder. It has not authorized the filing of any effective
financing statement or other instrument similar in effect covering all or any part of the Account
Collateral, except as filed in favor of the Collateral Agent, for the benefit of the Senior
Secured Parties, pursuant to this Accounts Agreement or the other Financing Documents. To the
best of its knowledge, no effective financing statement or other instrument similar in effect
covering all or any part of the Account Collateral or listing the Borrower or any trade name of
the Borrower as debtor is on file in the applicable recording office, except as filed in favor of
the Collateral Agent, for the benefit of the Senior Secured Parties, relating to the Financing
Documents, and it has not entered into, and shall not enter into, any security control agreement
or other agreement similar in effect, in each case covering all or any part of the Account
Collateral, except as may have been entered into in favor of the Collateral Agent, for the benefit
of the Senior Secured Parties, relating to this Accounts Agreement or the other Financing
Documents;

     (b) on or prior to the Effective Date, all filings, registrations, notifications and
recordings, if any, necessary or appropriate to create, preserve, protect and perfect the
first-priority security interest granted by the Borrower to the Collateral Agent, for the benefit
of the Senior Secured Parties, hereby in respect of the Account Collateral will have been made,
and such first-priority security interest granted to the Collateral Agent, for the benefit of the
Senior Secured Parties, pursuant to this Accounts Agreement in and to the Account Collateral will
constitute a valid and enforceable security interest therein that, to the extent such security
interest may be perfected under the UCC, will be perfected and that will be subject to no prior
security interest that can be perfected under the UCC;

52

 

     (c) until the Security Discharge Date, the Borrower will not execute or authorize to be filed
in any public office any UCC financing statement (or similar statement or instrument of
registration under the law of any jurisdiction) or statements relating to the Account Collateral,
except for the filings or registrations made in respect of the Financing Documents.

     (d) except for the filings, registrations, notifications and recordings referred to in
Section 15.01(b), no authorization, approval or other action by, and no notice to or
filing with, any Governmental Authority or any other third party is required for (i) the grant by
the Borrower of the pledge and security interest granted hereunder or for the execution, delivery
or performance of this Accounts Agreement by the Borrower, (ii) the perfection or maintenance of
the pledge and security interest created hereunder (including the first-priority nature of such
pledge and security interest in favor of the Collateral Agent for the benefit of the Senior
Secured Parties), or (iii) the exercise by the Collateral Agent, on behalf of the Senior Secured
Parties, and the Accounts Bank of their respective rights provided for in this Accounts Agreement
or the remedies in respect of the Account Collateral pursuant to this Accounts Agreement;

     (e) except for the rights of the Collateral Agent, for the benefit of the Senior Secured
Parties, granted hereunder or pursuant hereto, it does not know of and has not received written
notice of any right or claim to or interest in (including any adverse claim) any Account
Collateral by any Person other than the Borrower; and

     (f) its exact legal name is ABE South Dakota, LLC, it is duly organized and validly existing
as a limited liability company under the laws of the State of Delaware and except as set forth in
Schedule 5.28 (Prior Legal Names of Borrower) of the Credit Agreement, it has not had any other
names in the previous five (5) years, and its chief executive office is located at the address
provided for the Borrower in Section 16.11(Notices and Other Communications).

ARTICLE XVI

MISCELLANEOUS

     Section 16.01 Termination. This Accounts Agreement shall terminate if the Security
Discharge Date has occurred. Upon termination of this Accounts Agreement, all Funds in the Project
Accounts shall be released to the Borrower.

     Section 16.02 Amendments, Etc. No amendment or waiver of any provision of this
Accounts Agreement and no consent to any departure by the Borrower shall be effective unless in
writing signed by the Collateral Agent and, in the case of an amendment, the Borrower, the
Collateral Agent, the Administrative Agent and the

53

 

Accounts Bank, and each such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given; provided, that no amendment, waiver
or consent shall, unless in writing and signed by the Accounts Bank in addition to the Collateral
Agent, affect the rights or duties of, or any fees or other amounts payable to, the Accounts Bank
under this Accounts Agreement.

     Section 16.03 Applicable Law; Jurisdiction; Etc. (a) GOVERNING LAW. THIS
ACCOUNTS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK, UNITED STATES OF AMERICA, WITHOUT REFERENCE TO CONFLICTS OF LAWS (OTHER THAN SECTION
5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

     (b) SUBMISSION TO JURISDICTION. EACH OF THE PARTIES HERETO IRREVOCABLY AND
UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THE
COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT
FOR THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS ACCOUNTS AGREEMENT, OR ANY OTHER FINANCING DOCUMENT,
OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND
UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD
AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION
OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE
JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS ACCOUNTS AGREEMENT OR IN ANY
OTHER FINANCING DOCUMENT SHALL AFFECT ANY RIGHT THAT ANY SENIOR SECURED PARTY MAY OTHERWISE HAVE
TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS ACCOUNTS AGREEMENT, ANY OTHER FINANCING
DOCUMENT AGAINST THE BORROWER, THE ACCOUNTS BANK OR ITS PROPERTIES IN THE COURTS OF ANY
JURISDICTION.

     (c) WAIVER OF VENUE. EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR
HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION

54

 

OR PROCEEDING ARISING OUT OF OR RELATING TO THIS ACCOUNTS AGREEMENT OR ANY OTHER FINANCING
DOCUMENT IN ANY COURT REFERRED TO IN SECTION 16.03(b). EACH OF THE PARTIES HERETO HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN
INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

     (d) Appointment of Process Agent and Service of Process. The Borrower hereby
irrevocably appoints C T Corporation System with an office on the date hereof at 111 Eighth
Avenue, New York, New York 10011, as its agent to receive on behalf of itself and its property
services of copies of the summons and complaint and any other process that may be served in any
such action or proceeding in the State of New York. If for any reason the Process Agent shall
cease to act as such for the Borrower, the Borrower hereby agrees to designate a new agent in New
York City on the terms and for the purposes of this Section 16.03(d) reasonably
satisfactory to the Collateral Agent, on behalf of the Senior Secured Parties. Such service may
be made by mailing or delivering a copy of such process to the Borrower in care of the Process
Agent at the Process Agent’s above address, and the Borrower hereby irrevocably authorizes and
directs the Process Agent to accept such service on its behalf. As an alternative method of
service, the Borrower also irrevocably consents to the service of any and all process in any such
action or proceeding by the air mailing of copies of such process to the Borrower at its then
effective notice addresses pursuant to Section 16.11(Notices and Other Communications).

     (e) Immunity. To the extent that the Borrower has or hereafter may acquire any
immunity from jurisdiction of any court or from any legal process (whether through service or
notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) with
respect to itself or its property, the Borrower hereby irrevocably and unconditionally waives such
immunity in respect of its obligations under this Accounts Agreement, the other Financing
Documents and, without limiting the generality of the foregoing, agrees that the waivers set forth
in this Section 16.03(d) shall have the fullest scope permitted under the Foreign
Sovereign Immunities Act of 1976 of the United States and are intended to be irrevocable for
purposes of such Act.

     (f) WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS ACCOUNTS AGREEMENT, ANY OTHER
FINANCING DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT,
TORT OR ANY OTHER

55

 

THEORY). EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY
OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (ii) ACKNOWLEDGES THAT IT AND THE
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS ACCOUNTS AGREEMENT, THE OTHER FINANCING
DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION
16.03.

     Section 16.04 Assignments. The provisions of this Accounts Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective successors and assigns
permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights
or obligations hereunder without the prior written consent of the Collateral Agent and the
Administrative Agent, and the Accounts Bank may not assign or delegate any of its rights or
obligations under this Accounts Agreement except pursuant to Section 14.05 (Resignation or
Removal of Accounts Bank).

     Section 16.05 Benefits of Accounts Agreement. Nothing in this Accounts Agreement or
any other Financing Document, express or implied, shall give to any Person, other than the parties
hereto, the Senior Secured Parties and their respective successors and assigns permitted under this
Accounts Agreement or any other Financing Document, Participants to the extent provided in Section
10.03 (Assignments) of the Credit Agreement, and Related Parties of the Administrative Agent, the
Collateral Agent and the Accounts Bank any benefit or any legal or equitable right or remedy under
or by reason of this Accounts Agreement.

     Section 16.06 Costs and Expenses. The Borrower shall pay (i) all reasonable and
documented out-of-pocket expenses incurred by the Accounts Bank, the Administrative Agent and the
Collateral Agent (including all reasonable fees, costs and expenses of counsel and financial
advisors for the Accounts Bank, the Administrative Agent and the Collateral Agent), in connection
with the preparation, negotiation, execution and delivery of this Accounts Agreement and the
administration and maintenance of the Project Accounts (whether or not the transactions
contemplated hereby are consummated); (ii) all reasonable and documented out-of-pocket expenses
incurred by the Collateral Agent, the Administrative Agent and the Accounts Bank (including all
reasonable fees, costs and expenses of counsel and financial advisors for Collateral Agent, the
Administrative Agent and the Accounts Bank), in connection with any amendments, modifications or
waivers of the provisions of this Accounts Agreement (whether or not the transactions contemplated
hereby are consummated); (iii) all reasonable and documented out-of-pocket expenses incurred by the
Accounts Bank, the Administrative Agent and the Collateral Agent (including all reasonable fees,
costs and

56

 

expenses of counsel and financial advisors for Accounts Bank, the Administrative Agent and the
Collateral Agent), in connection with the administration of this Accounts Agreement (whether or not
the transactions contemplated hereby are consummated); and (iv) all out-of-pocket expenses incurred
by the Accounts Bank, the Administrative Agent and the Collateral Agent (including all fees, costs
and expenses of counsel and financial advisors for any of the Accounts Bank, the Administrative
Agent and the Collateral Agent), in connection with the enforcement or protection of their rights
in connection with this Accounts Agreement, including their rights under this Section
16.06, including in connection with any workout, restructuring or negotiations in respect of
any of the Obligations.

     Section 16.07 Counterparts; Effectiveness. This Accounts Agreement may be executed in
counterparts (and by different parties hereto in different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract.
This Accounts Agreement shall become effective when it has been executed by the Collateral Agent
and when the Collateral Agent has received counterparts hereof that, when taken together, bear the
signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature
page of this Accounts Agreement by telecopy or portable document format (“pdf”) shall be effective
as delivery of a manually executed counterpart of this Accounts Agreement. With effect on and from
the Effective Date, the Original Accounts Agreement shall be amended and restated in its entirety
by this Accounts Agreement and the rights and obligations of the parties under the Original
Accounts Agreement shall be governed by and construed in accordance with this Accounts Agreement.
The performance of the parties’ obligations under this Accounts Agreement prior to the date hereof
shall be deemed to be governed by and construed in accordance with the Original Accounts Agreement.

     Section 16.08 Indemnification by the Borrower. In addition to the indemnity by
Borrower set forth in Section 16.11(f) (Notices and Other Communications), the Borrower
hereby agrees to indemnify the Collateral Agent (and any sub-agent thereof), the Administrative
Agent (and any sub-agent thereof), the Accounts Bank and each Related Party of any of the foregoing
Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee
harmless from, any and all losses, claims, damages, liabilities and related expenses (including all
reasonable fees, costs and expenses of counsel for any Indemnitee), incurred by any Indemnitee or
asserted against any Indemnitee by any third party or by the Borrower arising out of, in connection
with, or as a result of:

     (a) the execution or delivery of the Original Accounts Agreement, this Accounts Agreement,
the Restructuring Agreement or any agreement or instrument contemplated hereby or thereby, the
performance by the parties hereto or thereto of their

57

 

respective obligations hereunder or thereunder or the consummation of the transactions
contemplated hereby or thereby;

     (b) any funds deposited in or credited to any Project Account (as defined hereunder or under
the Original Accounts Agreement) or the use or proposed use of the proceeds therefrom; and

     (c) any actual or prospective claim, litigation, investigation or proceeding relating to any
of the foregoing, whether based on contract, tort or any other theory, whether brought by a third
party, the Pledgor or any of its members, managers or creditors, the Borrower or any of its
members, managers or creditors, or any other Person, and in each case regardless of whether any
Indemnitee is a party thereto and whether or not any of the transactions contemplated hereunder,
in all cases, whether or not caused by or arising, in whole or in part, out of the comparative,
contributory or sole negligence of the Indemnitee;

     provided that such indemnity shall not, as to any Indemnitee, be available to the extent
that such losses, claims, damages, liabilities or related expenses are determined by a court of
competent jurisdiction by final and non-appealable judgment to have resulted from the gross
negligence or willful misconduct of such Indemnitee.

     Section 16.09 No Waiver; Cumulative Remedies. No failure by any Senior Secured Party,
the Accounts Bank, the Administrative Agent or the Collateral Agent to exercise, and no delay by
any such Person in exercising, any right, remedy, power or privilege hereunder, or under any other
Financing Document, shall operate as a waiver thereof; nor shall any single or partial exercise of
any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or
the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and
privileges herein provided, and provided under each other Financing Document, are cumulative and
not exclusive of any rights, remedies, powers and privileges provided by law.

     Section 16.10 Conflicting Instructions. If pursuant to any provision of this Accounts
Agreement that provides for any of the Collateral Agent or the Administrative Agent or the Borrower
to give instructions, directions, notices, certificates, requests or requisitions to the Accounts
Bank, the Accounts Bank receives conflicting instructions, directions, notices, certificates,
requests or requisitions from the Collateral Agent or the Administrative Agent, as applicable, and
the Borrower, the instruction, direction, notice, certificate, request or requisition provided by
the Collateral Agent or the Administrative Agent, as applicable, shall control and the Accounts
Bank shall comply with any and all such instructions originated by the Collateral Agent or the
Administrative Agent, as applicable.

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     Section 16.11 Notices and Other Communications. (a) Except in the case of
notices and other communications expressly permitted to be given by telephone (and except as
provided in Section 16.11(b)), all notices and other communications provided for herein
shall be in writing and shall be delivered by hand or overnight courier service, mailed by
certified or registered mail or sent by telecopier or electronic mail as follows:

     If to the Borrower:

ABE South Dakota, LLC

10201 Wayzata Blvd., Suite 250

Minneapolis, Minnesota 55305

Attention:       Chief Executive Officer

Telephone:     763-226-2707

Facsimile:      763-226-2725

E-mail:           rpeterson@advancedbioenergy.com

     If to the Accounts Bank:

Amarillo National Bank

P.O. Box 1

Amarillo, Texas 79105

(or, for delivery by overnight courier, to:

410 S. Taylor

Amarillo, Texas 79101)

Attention:       Craig Sanders, Executive Vice President

Telephone:     806- 378-8244

Facsimile:      806-345-1663

E-mail:           craig.sanders@anb.com

     If to the Collateral Agent:

WestLB AG, New York Branch

7 World Trade Center

250 Greenwich Street

New York, NY 10007

Attention:       Thomas Brensic

Telephone:      212 597-1153

Facsimile:       212 597-1490

Email:             Thomas_Brensic@westlb.com

Group e-mail: NYC_Documents_Groups@WestLB.com

59

 

     If to the Administrative Agent:

WestLB AG, New York Branch

7 World Trade Center

250 Greenwich Street

New York, NY 10007

Attention:      Andrea Bailey

Telephone:    (212) 597-1158

Facsimile:     (212) 302-7946

E-mail:          NYC_Agency_Services@WestLB.com

     (b) Notices sent by hand or overnight courier service, or mailed by certified or registered
mail, shall be deemed to have been given when received; notices sent by telecopier shall be deemed
to have been given when sent (except that, if not given during normal business hours for the
recipient, such notices shall be deemed to have been given at the opening of business on the next
Business Day for the recipient). Notices delivered through electronic communications to the
extent provided in Section 16.11(d)) shall be effective as provided in Section
16.11(d).

     (c) Notices and other communications to the Borrower, the Collateral Agent, the
Administrative Agent or the Accounts Bank hereunder may be delivered or furnished by electronic
communication (including e-mail and internet or intranet websites). Each of the Collateral Agent,
the Administrative Agent, the Accounts Bank and the Borrower may, in its discretion, agree to
accept notices and other communications to it hereunder by electronic communications pursuant to
procedures approved by it; provided that approval of such procedures may be limited to
particular notices or communications.

     (d) Unless otherwise prescribed, (i) notices and other communications sent to an e-mail
address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended
recipient (such as by the “return receipt requested” function, as available, return e-mail or
other written acknowledgement); provided that if such notice or other communication is not
received during the normal business hours of the recipient, such notice or communication shall be
deemed to have been received at the opening of business on the next Business Day for the
recipient, and (ii) notices or communications posted to an internet or intranet website shall be
deemed received upon the deemed receipt by the intended recipient at its e-mail address as
described in Section 16.11(a) of notification that such notice or communication is
available and identifying the website address therefor.

60

 

     (e) Each of the Borrower, the Collateral Agent, the Administrative Agent and the Accounts
Bank may change its address, telecopier or telephone number for notices and other communications
hereunder by notice to the other parties hereto.

     (f) The Collateral Agent, the Administrative Agent and the Accounts Bank shall be entitled to
rely and act upon any written notices purportedly given by or on behalf of the Borrower even if
(i) such notices were not made in a manner specified herein, were incomplete or were not preceded
or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood
by the recipient, varied from any confirmation thereof. The Borrower shall indemnify the
Collateral Agent, the Administrative Agent, the Accounts Bank and the Related Parties of each of
them from all losses, costs, expenses and liabilities resulting from the reliance by such Person
on each notice purportedly given by or on behalf of the Borrower. All telephonic notices to and
other telephonic communications with the Collateral Agent, the Administrative Agent or the
Accounts Bank may be recorded by the Collateral Agent, the Administrative Agent or the Accounts
Bank, and each of the parties hereto hereby consents to such recording.

     Section 16.12 Patriot Act Notice. The Accounts Bank hereby notifies the Borrower that
pursuant to the requirements of the Patriot Act, it is required to obtain, verify and record
information that identifies the Borrower, which information includes the name and address of the
Borrower and other information that will allow the Accounts Bank to identify the Borrower in
accordance with the Patriot Act.

     Section 16.13 Severability. If any provision of this Accounts Agreement or any other
Financing Document is held to be illegal, invalid or unenforceable, (a) the legality, validity and
enforceability of the remaining provisions of this Accounts Agreement or such other Financing
Document shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith
negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the
economic effect of which comes as close as possible to that of the illegal, invalid or
unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction.

     Section 16.14 Survival. Notwithstanding anything in this Accounts Agreement to the
contrary, Article XV (Representations and Warranties) and Section 16.06 (Costs and
Expenses) and Section 16.08 (Indemnification by the Borrower) shall survive any
termination of this Accounts Agreement. In addition, each representation and warranty made
hereunder, in any other Financing Document or other document delivered pursuant hereto or thereto
or in connection herewith or therewith shall survive the execution and delivery hereof and thereof.
Such representations and warranties have been or will be relied upon by the Accounts Bank, the
Collateral Agent, the

61

 

Administrative Agent and each other Senior Secured Party, regardless of any investigation made
by the Accounts Bank, the Collateral Agent, the Administrative Agent or any other Senior Secured
Party, or on their behalf and notwithstanding that the Accounts Bank, the Collateral Agent, the
Administrative Agent or any other Senior Secured Party may have had notice or knowledge of any
Default or Event of Default at the time of the Funding, and shall continue in full force and effect
as long as any Loan, any other Obligation hereunder or under any other Financing Document shall
remain unpaid or unsatisfied.

     Section 16.15 Waiver of Consequential Damages, Etc. To the fullest extent permitted
by applicable Law, the Borrower shall not assert, and hereby waives, any claim against any
Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages
(as opposed to direct or actual damages) arising out of, in connection with, or as a result of,
this Accounts Agreement, any other Financing Document or any agreement or instrument contemplated
hereby, the transactions contemplated hereby or thereby, any Loan or the use of the proceeds
thereof. No Indemnitee shall be liable for any damages arising from the use by unintended
recipients of any information or other materials distributed by it through telecommunications,
electronic or other information transmission systems in connection with this Accounts Agreement,
the other Financing Documents or the transactions contemplated hereby or thereby.

     Section 16.16 Waiver of Litigation Payments. To the extent that the Borrower may, in
any action, suit or proceeding brought in any of the courts referred to in Section 16.03(b)
(Applicable Law; Jurisdiction; Etc.) or elsewhere arising out of or in connection with this
Accounts Agreement or any other Financing Document to which it is a party, be entitled to the
benefit of any provision of law requiring any Lender or any Agent in such action, suit or
proceeding to post security for the costs of such Person or to post a bond or to take similar
action, each such Person hereby irrevocably waives such benefit, in each case to the fullest extent
now or in the future permitted under the laws of New York or, as the case may be, the jurisdiction
in which such court is located.

     Section 16.17 Bond Trustee. The Bond Trustee is a signatory to this agreement for the
sole purpose of acknowledging and giving its prior written consent to the amendment and restatement
of the Original Accounts Agreement contemplated hereby, and, unless the context otherwise requires,
the words “party” and “parties” when used in this Accounts Agreement (except for Section 16.07
(Counterparts; Effectiveness)) shall not be references to the Bond Trustee.

(Remainder of page intentionally blank. Next page is signature page.)

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     IN WITNESS WHEREOF, the parties hereto have caused this Accounts Agreement to be executed by
their respective officers as of the day and year first above written.

	 	 	 	 	 
	 	ABE SOUTH DAKOTA, LLC,

as the Borrower

 	 
	 	By:  	/s/ Richard R. Peterson
 	 
	 	 	Name:  	Richard R. Peterson 	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 

Signature Page to Amended and Restated Accounts Agreement

 

 

	 	 	 	 	 
	 	AMARILLO NATIONAL BANK,

as the Securities Intermediary

 	 
	 	By:  	/s/ Craig L. Sanders
 	 
	 	 	Name:  	Craig L. Sanders 	 
	 	 	Title:  	Executive Vice President 	 
	 
	 	AMARILLO NATIONAL BANK,

as the Accounts Bank

 	 
	 	By:  	/s/ Craig L. Sanders
 	 
	 	 	Name:  	Craig L. Sanders 	 
	 	 	Title:  	Executive Vice President 	 
	 

Signature Page to Amended and Restated Accounts Agreement

 

 

	 	 	 	 	 
	 	WESTLB AG, NEW YORK BRANCH, 

as the Collateral Agent

 	 
	 	By:  	/s/ E. Keith Min
 	 
	 	 	Name:  	E. Keith Min 	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	/s/ Dominick D’Ascoli
 	 
	 	 	Name:  	Dominick D’Ascoli 	 
	 	 	Title:  	Director 	 
	 

	 	 	 	 	 
	 	WESTLB, AG, NEW YORK BRANCH,

as the Administrative Agent

 	 
	 	By:  	/s/ E. Keith Min
 	 
	 	 	Name:  	E. Keith Min 	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	/s/ Dominick D’Ascoli
 	 
	 	 	Name:  	Dominick D’Ascoli 	 
	 	 	Title:  	Director 	 
	 

Signature Page to Amended and Restated Accounts Agreement

 

 

      IN WITNESS WHEREOF, the party below acknowledges and accepts this Accounts Agreement by its
officer as of the day and year first above written.

	 	 	 	 	 
	 	THE PARTY BELOW IS EXECUTING THIS

AGREEMENT SOLELY FOR PURPOSES OF SECTION

16.07 (Counterparts; Effectiveness) and 16.17 

(Bond Trustee):

WELLS FARGO BANK, NATIONAL ASSOCIATION,

AS TRUSTEE OF THE BROWN COUNTY, SOUTH

DAKOTA SUBORDINATE SOLID WASTE FACILITIES

REVENUE BONDS (HEARTLAND GRAIN FUELS,

L.P. ETHANOL PLANT PROJECT) SERIES 2007A,

as the Bond Trustee

 	 
	 	By:  	/s/ Michael G. Slade
 	 
	 	 	Name:  	Michael G. Slade 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amended and Restated Accounts Agreementexv4w4

Exhibit 4.4

WRIGHT MEDICAL GROUP, INC.

Inducement Stock Option Grant Agreement

	 	 	 	 	 
	Award Granted to (“Grantee”):

	 	Raymond C. Kolls

	Grant Date:

	 	May 31, 2010

	Number of Shares (“Shares”):

	 	65,000	 	 
	Option Price:

	 	$16.43	 	 

     THIS INDUCEMENT STOCK OPTION GRANT AGREEMENT (the “Agreement”) is made as of the Grant Date by
and between Wright Medical Group, Inc., a Delaware corporation with its principal place of business
at 5677 Airline Road, Arlington, Tennessee 38002 (the “Company”) and Grantee pursuant to the terms
of this Agreement.

     WHEREAS, the Compensation Committee of the Board of Directors of the Company (the “Board”) has
decided to grant the option and right to purchase the Company’s Common Stock (the “Stock”) to
induce Grantee to commence employment with the Company and/or a Related Entity (as defined in this
Agreement), to strengthen Grantee’s commitment to the welfare of the Company, and to promote an
identity of interest between the Company’s stockholders and Grantee; and

     WHEREAS, pursuant to this Agreement the Compensation Committee of the Board has authorized
that Grantee be granted the right and option to purchase from the Company the Shares of Stock
subject to the terms and restrictions stated below.

     NOW, THEREFORE, the parties agree as follows:

	1.	 	Definitions. Terms defined in this Agreement, including the introduction and recitals, shall
have the meaning set forth herein. The following definitions shall be applicable to this
Agreement:

	 	1.1.	 	“Cause” shall mean the Company or a Related Entity having cause to terminate Grantee’s
employment or service in accordance with the provisions of any existing employment,
consulting or any other agreement between Grantee and the Company or a Related Entity or,
in the absence of such an employment, consulting or other agreement, upon (i) the
determination by the Committee that Grantee has ceased to perform Grantee’s duties to the
Company or a Related Entity (other than as a result of Grantee’s incapacity due to physical
or mental illness or injury), which failure amounts to intentional and extended neglect of
Grantee’s duties, (ii) the Committee’s determination that Grantee has engaged or is about
to engage in conduct injurious to the Company or a Related Entity, or (iii) Grantee having
plead no contest to a charge of a felony or having been convicted of a felony.
	 
	 	1.2.	 	“Committee” shall mean the full Board, the Compensation Committee of the Board, or such
other committee that the Board may appoint to administer this Agreement.
	 
	 	1.3.	 	“Change of Control” shall mean the first to occur on or after the Grant Date of any of
the following:
	 
	 	 	 	(a) The acquisition by any individual, entity or group (within the meaning of Section
13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3
promulgated under the Exchange Act) of 50% or more (on a fully diluted basis) of either
(A) the then outstanding shares of Stock, taking into account as outstanding for this
purpose such Stock issuable upon the exercise of options or warrants, the conversion of
convertible stock or debt, and the exercise of any similar right to acquire such Stock
(the “Outstanding Company Common Stock”) or (B) the combined voting power of the then
outstanding voting securities of the Company entitled to vote generally in the election
of directors (the “Outstanding 

 

 

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	 	 	 	Company Voting Securities”); provided, however, that for
purposes of this subsection (a), the following
acquisitions shall not constitute a Change of Control: (x) any acquisition by the
Company or any “affiliate” of the Company, within the meaning of 17 C.F.R. § 230.405 (an
“Affiliate”), (y) any acquisition by any employee benefit plan (or related trust)
sponsored or maintained by the Company or any Affiliate, or (z) any acquisition by any
corporation or business entity pursuant to a transaction which complies with clauses (A)
and (B) of subsection (a) of this Section 1.3 (persons and entities described in clauses
(x), (y), and (z) being referred to herein as “Permitted Holders”);
	 
	 	 	 	(b) The consummation of a reorganization, merger or consolidation or sale or other
disposition of all or substantially all of the assets of the Company (a “Business
Combination”), in each case, unless, following such Business Combination, (A) all or
substantially all of the individuals and entities who were the beneficial owners,
respectively, of the Outstanding Company Common Stock and Outstanding Company Voting
Securities immediately prior to such Business Combination beneficially own, directly or
indirectly, more than 60% of, respectively, the then outstanding shares of common stock
and the combined voting power of the then outstanding voting securities entitled to vote
generally in the election of directors, as the case may be, of the corporation resulting
from such Business Combination (including, without limitation, a corporation which as a
result of such transaction owns the Company or all or substantially all of the Company’s
assets either directly or through one or more subsidiaries) in substantially the same
proportions as their ownership, immediately prior to such Business Combination, of the
Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case
may be, (B) no Person (excluding any Permitted Holder) beneficially owns, directly or
indirectly, 50% or more (on a fully diluted basis) of, respectively, the then
outstanding shares of common stock of the corporation resulting from such Business
Combination, taking into account as outstanding for this purpose such common stock
issuable upon the exercise of options or warrants, the conversion of convertible stock
or debt, and the exercise of any similar right to acquire such common stock, or the
combined voting power of the then outstanding voting securities of such corporation
except to the extent that such ownership existed prior to the Business Combination, and
(C) at least a majority of the members of the board of directors of the corporation
resulting from such Business Combination were members of the incumbent Board at the time
of the execution of the initial agreement providing for such Business Combination;
	 
	 	 	 	(c) The approval by the stockholders of the Company of a complete liquidation or
dissolution of the Company;
	 
	 	 	 	(d) The sale of at least 80% of the assets of the Company to an unrelated party, or
completion of a transaction having a similar effect; or
	 
	 	 	 	(e) The individuals who on the date of this Agreement constitute the Board thereafter
cease to constitute at least a majority thereof; provided that any person becoming a
member of the Board subsequent to the date of this Agreement and whose election or
nomination was approved by a vote of at least two-thirds of the directors who then
comprised the Board immediately prior to such vote shall be considered a member of the
Board on the date of this Agreement.
	 
	 	1.4.	 	“Code” means the Internal Revenue Code of 1986, as amended. Reference in this Agreement
to any section of the Code shall be deemed to include any amendments or successor
provisions to such section and any regulations under such section.
	 
	 	1.5.	 	“Disability” shall mean the complete and permanent inability by reason of illness or
accident to perform the duties of the occupation at which Grantee was employed or served
when such 

 

 

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	 	 	 	disability commenced or, if Grantee was retired when such disability commenced,
the inability
to engage in any substantial gainful activity, in either case as determined by the
Committee based upon medical evidence acceptable to it.
	 
	 	1.6.	 	“Eligible Person” shall mean (i) a person regularly employed by the Company or any
Related Entity; provided, however, that no such employee covered by a collective bargaining
agreement shall be an Eligible Person unless and to the extent that such eligibility is set
forth in such collective bargaining agreement or in an agreement or instrument related
thereto, (ii) director of the Company or any Related Entity; or (iii) consultant to the
Company or any Related Entity.
	 
	 	1.7.	 	“Fair Market Value” on a given date shall mean (i) if the Stock is listed on a national
securities exchange, the closing price of a share of Stock reported as having occurred on
the primary exchange with which the Stock is listed and traded on the date prior to such
date, or, if there is no such sale on that date, then on the last preceding date on which
such a sale was reported; (ii) if the Stock is not listed on any national securities
exchange but is quoted on an automated quotation system, the closing price of a share of
Stock reported on the date prior to such date, or, if there is no such sale on that date,
then on the last preceding date on which a sale was reported; or (iii) if the Stock is not
listed on a national securities exchange nor quoted on an automated quotation system, the
amount determined pursuant to one of the methods set forth in Treas. Reg. §
1.409A-1(b)(5)(iv)(B)(2), as elected by the Committee.
	 
	 	1.8.	 	“Related Entity” shall mean means, when referring to a subsidiary, any business entity
(other than the Company) which, at the Grant Date, is in an unbroken chain of entities
ending with the Company, if stock or voting interests possessing 50% or more of the total
combined voting power of all classes of stock or other ownership interests of each of the
entities other than the Company is owned by one of the other entities in such chain and,
when referring to a parent entity, the term “Related Entity” shall mean any entity in an
unbroken chain of entities ending with the Company if, at the Grant Date, each of the
entities other than the Company owns stock or other ownership interests possessing 50% or
more of the total combined voting power of all classes of stock (or other ownership
interests) in one of the other entities in such chain.

	2.	 	Grant of Options. Subject to the terms and conditions of this Agreement, the Company hereby
grants to Grantee the right and option (the right to purchase any one share of Stock under
this Agreement being an “Option”) during the period commencing on the Grant Date and, subject
to Section 4 of this Agreement, ending on the 10th anniversary of the Grant Date (the
“Expiration Date”) to purchase from the Company the Shares. Each Option shall have an
exercise price per share equal to the Option Price indicated above. The Options are not
designated as incentive stock options within the meaning of Section 422 of the Code.

	3.	 	Vesting Schedule. The Options shall vest as to one-fourth (1/4) of the Shares on the first
anniversary of the Grant Date, and as to an additional one-fourth (1/4) on each succeeding
anniversary date, so as to be 100% vested on the fourth anniversary of the Grant Date,
conditioned upon Grantee maintaining status as an Eligible Person as of each vesting date.
Notwithstanding the foregoing, (A) the interest of Grantee to the Options shall vest as to
100% of the then unvested Options upon a Change of Control, and (B) the Committee may in its
sole discretion accelerate the exercisability of the Options, provided that such acceleration
shall not affect the terms and conditions of any such Options other than with respect to
exercisability.

	4.	 	Expiration of Options. The Option shall expire and cease to be exercisable at the earlier to
occur, as to any share of Stock, when Grantee purchases the share or the Expiration Date.
Notwithstanding the foregoing, if prior to the Expiration Date Grantee ceases to be an
Eligible Person, unless otherwise 

 

 

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	 	 	determined by the Compensation Committee, the Options shall
expire on the earlier of the Expiration Date or the date that is ninety days after the date
upon which Grantee ceased to be an Eligible
Person. In such event, the Options shall remain exercisable by Grantee until expiration only to
the extent the Options were exercisable at the time that Grantee ceased to be an Eligible
Person.

	5.	 	Restrictions.

	 	5.1.	 	Except as specifically authorized by the Committee, Grantee may not sell, assign,
donate, or transfer or otherwise dispose of, mortgage, pledge or encumber Grantee’s rights
and interest in the Options, except, in the event of Grantee’s death, to a designated
beneficiary, or in the absence of such designation, by will or the laws of descent and
distribution or, in the event of Grantee’s incapacity, Grantee’s guardian or legal
representative. Except as so authorized, no purported assignment or transfer of the
Options, or of the rights represented thereby, whether voluntary or involuntary, by
operation of law or otherwise (except by will or the laws of descent and distribution),
shall vest in the assignee or transferee any interest or right herein whatsoever.
	 
	 	5.2.	 	By accepting the Options, Grantee represents and agrees for Grantee and Grantee’s
transferees (whether by will or the laws of descent and distribution) that:
	 
	 	 	 	(a) For the period commencing on the Grant Date and ending on the first anniversary of
the date upon which Grantee loses status as an Eligible Person (such period is
hereinafter referred to as the “Covenant Period”), with respect to any state in which
the Company is engaged in business during Grantee’s employment with the Company, Grantee
shall not participate or engage, directly or indirectly, for Grantee or on behalf of or
in conjunction with any person, partnership, corporation or other entity, whether as an
employee, agent, officer, director, stockholder, partner, joint venturer, investor or
otherwise, in any business activities if such activity consists of any activity
undertaken or expressly planned to be undertaken by the Company or any of its
subsidiaries or by Grantee at any time during which Grantee maintained status as an
Eligible Person.
	 
	 	 	 	(b) Except with the Company’s prior written approval or as may otherwise be required by
law or legal process, Grantee shall not disclose any material or information which is
confidential to the Company or its subsidiaries and not in the public domain or
generally known in the industry, whether tangible or intangible, made available,
disclosed or otherwise known to Grantee as a result of Grantee’s status as an Eligible
Person.
	 
	 	 	 	(c) During the Covenant Period, Grantee shall not attempt to influence, persuade or
induce, or assist any other person in so persuading or inducing, any employee of the
Company or its subsidiaries to give up, or to not commence, employment or a business
relationship with the Company.
	 
	 	5.3.	 	The Company shall have the right, but not the obligation, to purchase and acquire from
Grantee any or all of the Shares previously acquired by Grantee upon exercise of an Option
(the “Repurchased Shares”) if the Committee reasonably determines that Grantee has violated
the covenants set forth in this Agreement or Grantee’s loss of status as an Eligible Person
is a result of termination of employment for Cause or Grantee’s loss of status as an
Eligible Person could have resulted from termination of employment for Cause. The Company
may exercise the right granted to it under this Section 5.3 by delivering written notice to
Grantee stating that the Company is exercising the repurchase right granted to it under
this Section 5.3. The delivery of such notice by the Company to Grantee shall constitute a
binding commitment of the Company to purchase and acquire all of the Repurchased Shares.
The total purchase price for the Repurchased Shares shall be 

 

 

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	 	 	 	delivered to the Grantee
against delivery by Grantee of certificates evidencing the Repurchased Shares no later than
thirty days after the delivery of the election notice by the
Company. The price per share of the Repurchased Shares shall be the lesser of 1) the
Fair Market Value of each of the Repurchased Shares on the date of the Company’s
delivery of its written notice to Grantee or 2) the Option Price.
	 	 	 	 
	 
	 	5.4.	 	The Company shall have the right, and not the obligation, to cancel any or all of the
Options if the Committee reasonably determines that Grantee has violated the covenants set
forth in this Agreement. The Company may exercise the right granted to it under this
Section 5.4 by delivering a written notice to Grantee stating that the Company is
exercising the cancellation right granted to it under this Section 5.4.
	 
	 	5.5.	 	Notwithstanding anything in this Section 5 to the contrary, the Company shall not be
obligated to purchase any Stock at any time to the extent that the purchase would result in
a violation of any law, statute, rule, regulation, order, writ, injunction, decree or
judgment promulgated or entered by any Federal, state, local or foreign court or
governmental authority applicable to the Company or any of its property.
	 
	 	5.6.	 	The parties intend the restrictions in Section 5.2 to be completely severable and
independent, and any invalidity or unenforceability of any one or more such restrictions
shall not render invalid or unenforceable any one or more restrictions.

	6.	 	Exercise; Payment for and Delivery of Shares. The Options or any portion thereof that is
exercisable shall be exercisable for the full amount or for any part thereof. Options which
have become exercisable may be exercised by delivery of written notice of exercise to the
Committee accompanied by payment of the Option Price. The Option Price shall be payable in
cash and/or shares of Stock valued at the Fair Market Value on the date the Option is
exercised or, in the discretion of the Committee, either (i) in other property having a fair
market value on the date of exercise equal to the Option Price, or (ii) by delivering to the
Committee a copy of irrevocable instructions to a stockbroker to deliver promptly to the
Company an amount of sale or loan proceeds sufficient to pay the Option Price. Payment in
currency or by certified or cashier’s check shall be considered payment in cash. Each share of
Stock purchased through the exercise of an Option shall be paid for in full at the time of the
exercise.

	7.	 	Stockholder Rights. Grantee or a transferee of the Options shall have no rights as a
stockholder with respect to any Shares covered by the Options until Grantee shall have become
the holder of record of such shares (and the Company shall use its reasonable best efforts to
cause Grantee to become the holder of record of such shares), and, except as provided in
Section 8 of this Agreement, no adjustment shall be made for dividends or distributions or
other rights in respect of such Shares for which the record date is prior to the date upon
which he or she shall become the holder of record thereof.

	8.	 	Changes in Capital Structure. The Options shall be subject to adjustment or substitution, as
determined by the Committee, as to the number, price or kind of Stock or other consideration
subject to such Options or as otherwise determined by the Committee to be equitable (i) in the
event of changes in the outstanding Stock or in the capital structure of the Company by reason
of stock dividends, stock splits, reverse stock splits, recapitalizations, reorganizations,
mergers, consolidations, combinations, exchanges, or other relevant changes in capitalization
occurring after the date hereof or (ii) in the event of any change in applicable laws or any
change in circumstances which results in or would result in any substantial dilution or
enlargement of the rights granted to, or available for, Grantee. No such adjustment shall be
made which would result in an increase in the amount of gain or a decrease in the amount of
loss inherent in the Options. The Company shall give 

 

 

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	 	 	Grantee written notice of an adjustment
hereunder. Notwithstanding anything herein to the contrary, in the event of any of the
following:

	 	 	 	(a) The Company is merged or consolidated with another corporation or entity and, in
connection therewith, consideration is received by stockholders of the Company in a form
other than stock or other equity interests of the surviving entity;
	 
	 	 	 	(b) All or substantially all of the assets of the Company are acquired by another
person; or
	 
	 	 	 	(c) The Company’s reorganization or liquidation;

then the Committee may, in its discretion and upon at least ten days advance notice to the affected
persons, cancel any outstanding Options and pay to Grantee, in cash, the value of such Options
based upon the price per share of Stock received or to be received by other stockholders of the
Company in such event and the per share exercise price of the Options.

	9.	 	Requirements of Law.

	 	9.1.	 	By accepting the Options, Grantee represents and agrees for Grantee and any transferees
(whether by will or the laws of descent and distribution) that, unless a registration
statement under the Securities Act of 1933, as amended (the “Securities Act”), is in effect
as to the shares purchased upon any exercise of the Options, (i) any and all Shares so
purchased shall be acquired for his personal account and not with a view to or for sale in
connection with any distribution, and (ii) each notice of the exercise of any portion of
this Option shall be accompanied by a representation and warranty in writing, signed by the
person entitled to exercise the same, that the shares are being so acquired in good faith
for his personal account and not with a view to or for sale in connection with any
distribution.
	 
	 	9.2.	 	No certificate or certificates for Shares may be purchased, issued or transferred if
the exercise hereof or the issuance or transfer of such Shares shall constitute a violation
by the Company or Grantee of any (i) provision of any Federal, state or other securities
law, (ii) requirement of any securities exchange listing agreement to which the Company may
be a party, or (iii) other requirement of law or of any regulatory body having jurisdiction
over the Company. Any reasonable determination in this connection by the Company, upon
notice given to Grantee, shall be final, binding and conclusive. Notwithstanding any terms
or conditions of this Agreement to the contrary, the Company shall be under no obligation
to offer to sell or to sell and shall be prohibited from offering to sell or selling any shares of Stock pursuant to the Options unless such shares have been properly registered
for sale pursuant to the Securities Act with the Securities and Exchange Commission or
unless the Company has received an opinion of counsel, satisfactory to the Company, that
such shares may be offered or sold without such registration pursuant to an available
exemption therefrom and the terms and conditions of such exemption have been fully complied
with. The Company shall be under no obligation to register for sale under the Securities
Act any of the shares of Stock to be offered or sold under this Agreement.
	 
	 	9.3.	 	The certificates representing shares of Stock acquired pursuant to the exercise of
Options shall carry such appropriate legend, and such written instructions shall be given
to the Company’s transfer agent, as may be deemed necessary or advisable by counsel to the
Company in order to comply with the requirements of the Securities Act or any state
securities laws.

 

 

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	 	9.4.	 	The obligation of the Company to make payment upon the exercise of Options shall be
subject to all applicable laws, rules, and regulations, and to such approvals by
governmental agencies as may be required.
	 
	 	9.5.	 	 

	10.	 	Taxes. Grantee understands that Grantee may recognize income for federal and, if applicable,
state income tax purposes upon exercise of Options. Grantee shall be liable for any and all
taxes, including withholding taxes, arising out of the grant of the Options or their exercise
hereunder. By accepting the Options, Grantee covenants to report such income in accordance
with applicable federal and state laws. To the extent that the exercise of Options results in
income to Grantee and withholding obligations of the Company, including federal or state
withholding obligations, Grantee agrees that the obligation shall be satisfied in the manner
Grantee has chosen by checking one of the following boxes:

	 	o	 	At least one working day prior to the exercise date Grantee may deliver to the Company
an amount of cash determined by the Company to be adequate to satisfy the Company’s
withholding obligation. If Grantee does not deliver such amount of cash, the Company
shall withhold an amount of the Grantee’s current or future remuneration in an amount
that satisfies the Company’s withholding obligation. Notwithstanding the foregoing, the
Company may in its sole discretion withhold from the Shares to be issued the specific
number of Shares having a fair market value on the vesting date equal to the amount
required to satisfy the Company’s withholding obligation.
	 
	 	x	 	The Company shall retain and instruct a registered broker(s) to sell such number of
Shares issued upon exercise of Options necessary to satisfy the Company’s withholding
obligations, after deduction of the broker’s commission, and the broker shall remit to
the Company the cash necessary in order for the Company to satisfy its withholding
obligations. Grantee covenants to execute any such documents as are requested by the
broker of the Company in order to effectuate the sale of the Shares and payment of the
tax obligations to the Company. The Grantee represents to the Company that, as of the
date hereof, he or she is not aware of any material nonpublic information about the
Company or the Shares. The Grantee and the Company have structured this Agreement to
constitute a “binding contract” relating to the sale of Shares pursuant to this Section,
consistent with the affirmative defense to liability under Section 10(b) of the Exchange
Act under Rule 10b5-1(c) promulgated under the Exchange Act.*

	11.	 	Governing Law; Venue.

	 	11.1.	 	The grant of Options and the provisions of this Agreement are governed by, and subject
to, the laws of the State of Delaware, without regard to the conflict of law provisions
thereof.
	 
	 	11.2.	 	For purposes of litigating any dispute that arises under this grant or the Agreement,
the parties hereby submit to and consent to the jurisdiction of the State of Tennessee,
agree that such litigation shall be conducted in the courts of Shelby County, Tennessee, or
the federal courts for the United States for the Western District of Tennessee, where this
grant is made and/or to be performed.

 

			
	*   By selecting the second option, Grantee understands
that the sale of Shares to satisfy the Company’s withholding obligations will
be considered a sale for purposes of short-swing liability under Section 16(b)
of the Exchange Act. Any profit realized in a purchase of shares of the
Company’s stock within six months of the sale may be recovered by the Company
or by a stockholder of the Company on behalf of the Company.

 

 

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	12.	 	Electronic Delivery. The Company may, in its sole discretion, decide to deliver any
documents related to the Options by electronic means and/or administer the Options through
electronic means. Grantee hereby consents to receive such documents by electronic delivery and
agrees to the administration of
the Options through an on-line or electronic system established and maintained by the Company or
a third party designated by the Company.
	 
	13.	 	Prohibition on Repricing. Without the prior approval of the Company’s stockholders, the
Company shall not, and the Committee shall not authorize the Company to, (i) amend this Option
to reduce its Option Price or (ii) cancel this Option and replace it with the grant of any new
equity award with a higher intrinsic value. This prohibition on Option repricing shall not be
construed to prohibit the adjustments for extraordinary changes in the Company’s capital
structure that are otherwise permitted under Section 8 of this Agreement.
	 
	14.	 	Designation and Change of Beneficiary. Grantee may file with the Committee a written
designation of one or more persons as the beneficiary who shall be entitled to receive the
rights or amounts payable with respect to the Options upon Grantee’s death. Grantee may, from
time to time, revoke or change Grantee’s beneficiary designation without the consent of any
prior beneficiary by filing a new designation with the Committee. The last such designation
received by the Committee shall be controlling; provided, however, that no designation, or
change or revocation thereof, shall be effective unless received by the Committee prior to
Grantee’s death, and in no event shall it be effective as of a date prior to such receipt. If
no beneficiary designation is filed by Grantee, the beneficiary shall be deemed to be
Grantee’s spouse, if Grantee is unmarried at the time of death, Grantee’s estate.
	 
	15.	 	Payments to Persons other than Grantee. If the Committee shall find that any person to whom
any amount is payable under this Agreement is unable to care for such person’s affairs because
of illness or accident, or is a minor, or has died, then any payment due to such person or
such person’s estate (unless a prior claim therefor has been made by a duly appointed legal
representative) may, if the Committee so directs, be paid to such person’s spouse, child,
relative, an institution maintaining or having custody of such person, or any other person
deemed by the Committee to be a proper recipient on behalf of such person otherwise entitled
to payment. Any such payment shall be a complete discharge of the liability of the Committee
and the Company therefor.
	 
	16.	 	Administration; No Liability of Committee Members. This Agreement shall be administered by
the full Board or the Committee. The majority of the members of the Committee shall constitute
a quorum. The acts of a majority of the members of the Committee present at any meeting at
which a quorum is present or acts approved in writing by a majority of the Committee shall be
deemed to be the acts of the Committee. No member of the Committee shall be personally liable
by reason of any contract or other instrument executed by such member or on such member’s
behalf in such member’s capacity as a member of the Committee nor for any mistake of judgment
made in good faith, and the Company shall indemnify and hold harmless each member of the
Committee and each other employee, officer or director of the Company to whom any duty or
power relating to the administration or interpretation of this Agreement may be allocated or
delegated, against any cost or expense (including counsel fees) or liability (including any
sum paid in settlement of a claim) arising out of any act or omission to act in connection
with this Agreement unless arising out of such person’s own fraud or willful bad faith;
provided, however, that approval of the Board shall be required for the payment of any amount
in settlement of a claim against any such person. The foregoing right of indemnification shall
not be exclusive of any other rights of indemnification to which such persons may be entitled
under the Company’s certificate of incorporation or bylaws, as a matter of law, or otherwise,
or any power that the Company may have to indemnify them or hold them harmless.
	 
	17.	 	Funding. No provision of this Agreement shall require the Company, for the purpose of
satisfying any obligations under this Agreement, to purchase assets or place any assets in a
trust or other entity to which contributions are made or otherwise to segregate any assets,
nor shall the Company maintain 

 

 

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	 	 	separate bank accounts, books, records or other evidence of the
existence of a segregated or separately maintained or administered fund for such purposes.
Grantee shall have no rights under this Agreement other than as an unsecured general creditor
of the Company, except that insofar as he
may have become entitled to payment of additional compensation by performance of services, he
shall have the same rights as other employees under general law.
	 	 	 
	 
	18.	 	Reliance on Reports. Each member of the Committee and each member of the Board shall be fully
justified in relying, acting or failing to act, and shall not be liable for having so relied,
acted or failed to act in good faith, upon any report made by the independent public
accountant of the Company and any Related Entity and upon any other information furnished in
connection with this Agreement by any person or persons other than himself.
	 
	19.	 	Relationship to Other Benefits. No payment under this Agreement shall be taken into account
in determining any benefits under any pension, retirement, profit sharing, group insurance or
other benefit plan of the Company except as otherwise specifically provided in such other
plan.
	 
	20.	 	Compliance with Section 409A of the Code.

	 	20.1.	 	This Agreement shall at all times be administered and the provisions of this Agreement
shall be interpreted consistent with the requirements of Section 409A of the Code and any
and all regulations thereunder, including such regulations as may be promulgated after the
Grant Date. Without limiting the foregoing, for purposes of Section 409A of the Code,

	 	 	 	(a) each “payment” (as defined by Section 409A of the Code) made under this Agreement or
the options shall be considered a “separate payment;”
	 
	 	 	 	(b) payments shall be deemed exempt from the definition of deferred compensation under
Section 409A of the Code to the fullest extent possible under (i) the “short-term
deferral” exemption of Treasury Regulation § 1.409A-1(b)(4), and (ii) with respect to
amounts paid as separation pay no later than the second calendar year following the
calendar year containing Grantee’s “separation from service” (as defined for purposes of
Section 409A of the Code) the “two years/two-times” separation pay exemption of Treasury
Regulation § 1.409A-1(b)(9)(iii), which are hereby incorporated by reference, and
	 
	 	 	 	(c) if Grantee is a “specified employee” as defined in Section 409A of the Code (and as
applied according to procedures of the Company and its affiliates) as of Grantee’s
separation from service, to the extent any payment under this Agreement or the Options
constitutes deferred compensation (after taking into account any applicable exemptions
from Section 409A of the Code) and to the extent required by Section 409A of the Code,
no payments due under this Agreement or the Options may be made until the earlier of:
(i) the first day of the seventh month following Grantee’s separation from service, or
(ii) Grantee’s date of death; provided, however, that any payments delayed during this
six-month period shall be paid in the aggregate in a lump sum, without interest, on the
first day of the seventh month following Grantee’s separation from service. To the
extent that the payment terms for the Options are otherwise set forth in a written
employment agreement or change in control agreement with a specified employee (or other
Company plan applicable to the specified employee) and such payment terms otherwise meet
the requirements of Section 409A of the Code and the application of such terms does not
result in a violation of Section 409A of the Code, the foregoing payment terms shall be
disregarded and the payment terms set forth in the applicable agreement or plan shall
apply.

	 	20.2.	 	If this Agreement or the Options fail to meet the requirements of Section 409A of the
Code, neither the Company nor any of its Affiliates shall have any liability for any tax,
penalty or 

 

 

Stock Option Grant Agreement

Page 10

______________________________

	 	 	 	interest imposed on Grantee by Section 409A of the Code, and Grantee shall have
no recourse against the Company or any of its Affiliates for payment of any such tax,
penalty or interest imposed by Section 409A of the Code.

	21.	 	Miscellaneous.

	 	21.1.	 	The Company shall not be required (i) to transfer on its books any shares of Stock of
the Company which have been sold or transferred in violation of any provisions set forth in
this Agreement, or (ii) to treat as owner of such shares or to accord the right to vote as
such owner or to pay dividends to any transferee to whom such shares shall have been so
transferred.
	 
	 	21.2.	 	The parties agree to execute such further instruments and to take such action as may
be reasonably necessary to carry out the intent of this Agreement.
	 
	 	21.3.	 	Any notice required or permitted hereunder shall be given in writing and shall be
deemed effectively given upon delivery to Grantee at the address of Grantee then on file
with the Company.
	 
	 	21.4.	 	This Agreement shall not, nor shall any provision hereunder, be construed so as to
grant Grantee any right to remain associated with the Company or any of its affiliates.
	 
	 	21.5.	 	The expenses of administering the Agreement shall be borne by the Company.
	 
	 	21.6.	 	The titles and headings of the sections in the Agreement are for convenience of
reference only, and in the event of any conflict, the text of the Agreement, rather than
such titles or headings shall control.
	 
	 	21.7.	 	This Agreement constitutes the entire agreement of the parties with respect to the
subject matter hereof.

 

 

Stock Option Grant Agreement

Page 11

______________________________

     This Agreement and the Options evidenced by this Agreement will not be effective until an
original signed Agreement is received by the Wright Medical Group, Inc. Legal Department. Please
print and sign this Agreement immediately, then send the signed Agreement to the Wright Medical
Group, Inc. Legal Department as soon as possible.

     AGREED AND ACCEPTED:

	 	 	 	 	 	 	 
	GRANTEE:	 	WRIGHT MEDICAL GROUP, INC.
	 
	 	 	 	 	 	 
	By:

	 	/s/ Raymond C. Kolls
	 	By:
	 	/s/ Edward A. Steiger
	 

	 	 
	 	 	 	 
	 

	 	Raymond C. Kolls
	 	 	 	Edward A. Steiger,
	 

	 	 	 	 	 	Senior Vice President, Human Resources

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