Document:

ex102.htm

  

  

  

Exhibit 10.2

MACK-CALI REALTY CORPORATION

RESTRICTED SHARE AWARD AGREEMENT

[Director]

 

 

  

  

  

AGREEMENT EVIDENCING THE GRANT

OF A RESTRICTED SHARE AWARD PURSUANT

TO THE 2004 INCENTIVE STOCK PLAN

OF MACK-CALI REALTY CORPORATION

Agreement ("Agreement") effective as of December 7, 2010 ("Grant Date") by and between Mack-Cali Realty Corporation (the "Company") and [___________] ("Recipient").

 

Whereas, pursuant to the 2004 Incentive Stock Plan of Mack-Cali Realty Corporation (the "Plan"), the Company hereby awards shares of the Company's common stock, par value $.01 per share ("Common Stock") to the Recipient subject to such terms, conditions, and restrictions (hereinafter, "Restricted Share Award") as set forth in the Plan, and this Agreement;

 

Now Therefore, the parties hereto hereby agree as follows:

 

1.           Award of Shares of Restricted Stock.

Pursuant to the Plan, the Committee hereby awards to the Recipient, effective as of the Grant Date, a Restricted Share Award representing the conditional receipt of One Two Thousand Eighty Seven (2,087) shares of Common Stock ("Restricted Shares") at no out-of-pocket cost to the Recipient subject to the terms, conditions and restrictions set forth herein.  Capitalized terms not otherwise defined in this Agreement shall be as defined in the Plan.

 

2.           Award Restrictions.

 

(a)           General Rules.  Ownership of Restricted Shares shall not vest in the Recipient, and shall be subject to forfeiture until the conditions of Section 2(b) or Section 4 are fully satisfied.  For purposes of this Agreement, the following concepts shall be defined as follows: (i) the lapse of restrictions on the Recipient's rights with respect to the Restricted Shares granted hereunder shall be referred to as "Vesting"; (ii) the period between the Grant Date and the date of Vesting shall be referred to as the "Vesting Period"; and (iii) the date Vesting occurs shall be referred to as the "Vesting Date."

 

 

  

  

  

 

 

(b)           Vesting.  All of the Restricted Shares granted hereunder shall Vest and be deemed earned on January 1, 2012.  Vesting of the Restricted Shares granted hereunder is conditioned upon Recipient’s continued service with the Company as a member of the Board of Directors through and including the Vesting Date.

 

(c)           Lapse of Restrictions.  Upon the Vesting of Restricted Shares, the Recipient shall own the Shares free and clear of all restrictions imposed by this Agreement and the Recipient shall be free to hold or dispose of such Shares in his discretion, subject to applicable federal and state law or regulations.

 

(d)           Prohibition Against Assignment.  During the Vesting Period, the Restricted Shares may not be transferred or encumbered by the Recipient by means of sale, assignment, mortgage, transfer, exchange, pledge, or otherwise.  The levy of any execution, attachment, or similar process upon the Restricted Shares shall be null and void.

 

3.           Stock Certificates.

 

(a)           Certificates.  Restricted Shares shall be evidenced by a stock certificate registered in the name of the Recipient or a nominee or nominees therefor.  As soon as practicable following the date hereof, the Company shall prepare and issue such certificate for the Restricted Shares (the "Share Certificate"), which shall be registered in the name of the Recipient or a nominee and which shall bear such restrictive legend or legends (if any) as the Company may deem necessary or desirable under any applicable law.

 

 

  

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(b)           Stock Powers.  The Recipient shall execute and deliver to the designee of the Company (the "Designee") stock powers corresponding to the Share Certificate designating the Company as the transferee of an unspecified number of Restricted Shares, which stock powers may be completed by the Designee as specified herein.  The Recipient and the Company each waive the requirement that the signature of the Recipient on the stock powers be guaranteed.  Upon receipt of a copy of this Agreement and the stock powers, each signed by the Recipient, the Designee shall promptly notify the proper officers of the Company and the Share Certificate and stock powers shall be held by the Company in accordance with the terms of this Agreement.

 

(c)           Effect of Vesting.  Upon Vesting, the Company shall cause to be delivered to the Recipient (i) a certificate for the Restricted Shares which have vested free and clear of restrictive legends and (ii) any stock powers signed hereunder by the Recipient remaining in its possession related to the vested Restricted Shares.  In the event that the Recipient dies after Restricted Shares are vested but before delivery of the certificate for the vested Restricted Shares, such certificate shall be delivered to, and registered in the name of, the Recipient's beneficiary or estate, as the case may be.

 

(d)           Rights of Stockholder.  Except as otherwise provided in Section 2 and this Section 3, during the Vesting Period and after the certificates for the Restricted Shares have been issued, the Recipient shall be entitled to all rights of a stockholder of the Company, including the right to vote and the right to receive dividends, with respect to the Restricted Shares subject to this Agreement.  Subject to applicable withholding requirements, if any, dividends on the Restricted Shares shall be paid to the Recipient when earned and payable.

 

 

  

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(e)           Power of Designee.  The Designee is hereby authorized by the Recipient to utilize the stock power delivered by the Recipient to transfer all forfeited Restricted Shares to the Company upon receipt of instructions from a duly authorized representative of the Company.

 

4.           Termination of Service.

 

(a)           Termination Due to Disability, Death or Retirement; Change in Control.  If the Recipient’s service as a member of the Board of Directors terminates due to Disability, death or Retirement, all Restricted Shares subject to this Agreement and held by, or on behalf of, the Recipient shall be deemed earned and vested as of the Recipient's last day of service as a member of the Board of Directors.  In addition, all Restricted Shares subject to this Agreement and held by the Recipient on the date a Change in Control occurs shall be deemed earned and vested as of such date.

 

(b)           Termination for Any Other Reason.  If the Recipient's service as a member of the Board of Directors terminates prior to the Vesting Date and prior to the occurrence of a Change in Control for reasons other than Disability, death or Retirement, any Restricted Shares subject to this Agreement that have not been earned and vested on the last day of the Recipient's service as a member of the Board of Directors shall be immediately forfeited.

 

5.           Withholding.

 

In connection with the delivery of any stock certificates, or the making of any payment in accordance with the provisions of this Agreement, to the extent not otherwise paid by or on behalf of the Recipient, the Company shall withhold Restricted Shares or cash amounts (for fractional Restricted Shares) equal to the taxes, if any, then required by applicable federal, state and local law to be so withheld.

 

 

  

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6.           Adjustments for Capital Changes.

 

In the event of any change in the outstanding shares of Common Stock of the Company by reason of any stock dividend or split, recapitalization, merger, consolidation, spin-off, reorganization, combination or exchange of shares, or other similar corporate change, or other increase or decrease in such shares effected without receipt or payment of consideration by the Company, a duly authorized representative of the Company shall adjust the number of Restricted Shares granted pursuant to the Plan and this Agreement to prevent dilution or enlargement of the rights granted to the Recipient.

 

7.           No Right to Continued Service.

 

Nothing in this Agreement shall confer on the Recipient any right to continue as a member of the Board of Directors.

 

8.           Notice.

 

Any notice to the Company hereunder shall be in writing addressed to:

 

Mack-Cali Realty Corporation

P.O. Box 7817

Edison, New Jersey  08818 -7817

Attn:       Mitchell E. Hersh

President and Chief Executive Officer

 

 

  

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Any notice to the Recipient hereunder shall be in writing addressed to:

or such other address as the Recipient shall notify the Company in writing.

9.           Section 409A.

This Restricted Share Award Agreement is not intended to provide for an elective deferral of compensation that would be subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the Company reserves the right to unilaterally amend or modify this Agreement to ensure that the awards do not become subject to the requirements of Section 409A thereof.

10.           Entire Agreement.

 

This Agreement contains the entire understanding of the parties and shall not be modified or amended except in writing and duly signed by each of the parties hereto.  No waiver by either party of any default under this Agreement shall be deemed a waiver of any later default hereunder.

 

11.           Construction.

 

The various provisions of this Agreement are severable in their entirety.  Any determination of invalidity or unenforceability of any one provision shall have no effect on the continuing force and effect of the remaining provisions.  All capitalized terms used and not otherwise defined herein shall have those meanings ascribed to them in the Plan.

 

 

  

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12.           Governing Law.

 

This Agreement shall be governed by the laws of the State of New Jersey applicable to contracts made, and to be enforced, within the State of New Jersey.

 

13.           Successors.

 

This Agreement shall be binding upon and inure to the benefit of the successors, assigns and heirs of the respective parties.

In Witness Whereof, the parties hereto have executed this Agreement to be effective on the date first above written.

 

Mack-Cali Realty Corporation

By:           _________________________

Mitchell E. Hersh

President and Chief Executive Officer

Recipient

______________________________

[Director]

 

  

-7-Exhibit 4(a)

FOURTH AMENDMENT OF 

CONSTRUCTION LOAN AGREEMENT

          THIS
FOURTH AMENDMENT OF CONSTRUCTION LOAN AGREEMENT (“Amendment”) is made this 1st
day of June, 2010 by and among ONE EARTH ENERGY, LLC, an Illinois limited
liability company (“BORROWER”), FIRST NATIONAL BANK OF OMAHA (“FNBO”), a
national banking association headquartered in Omaha, Nebraska as a BANK and as
administrative agent for the BANKS (in such capacity, the “ADMINISTRATIVE
AGENT”), as accounts bank (in such capacity, the “ACCOUNTS BANK”) and as
collateral agent for the BANKS (in such capacity, the “COLLATERAL AGENT”), and
the BANKS party to the AGREEMENT. This Amendment amends that certain
Construction Loan Agreement dated September 20, 2007 among the AGENT, BANKS and
BORROWER (“AGREEMENT”).

          WHEREAS,
pursuant to the AGREEMENT and the other LOAN DOCUMENTS, BANKS extended the
LOANS and other financial accommodations and extensions of credit described in
the AGREEMENT to BORROWER, all as more fully described in the AGREEMENT;

          WHEREAS,
pursuant to that certain First Amendment of Construction Loan Agreement dated
September 19, 2008, the LOAN TERMINATION DATE of the REVOLVING LOAN was
extended from September 19, 2008 to September 18, 2009, the Maintenance
Building Land, Tucker Land, Wellsite Lease and Scott Lease were added as
collateral for the LOANS and the MORTGAGE was amended accordingly, and the
AGREEMENT was otherwise amended as provided for therein;

          WHEREAS,
pursuant to that certain Second Amendment of Construction Loan Agreement dated
January 30, 2009, the allocation of the TERM LOANS was modified by the addition
of the FIXED RATE II TERM LOAN, provisions relating to the Ameren Agreement
were added and the AGREEMENT was otherwise amended as provided for therein;

          WHEREAS,
pursuant to that certain Third Amendment of Construction Loan Agreement dated
September 18, 2009, the LOAN TERMINATION DATE of the REVOLVING LOAN was
extended to September 17, 2010, the interest rate and non-usage fee applicable
to the REVOLVING LOAN was modified as provided for therein and the AGREEMENT
was otherwise amended as provided for therein;

          WHEREAS,
BORROWER has requested, and under the terms of this Amendment Banks have
agreed, to extend the LOAN TERMINATION DATE of the REVOLVING LOAN from
September 17, 2010 to May 31, 2011, to modify the interest rate definitions and
terms applicable to the LOANS, to modify the restriction on CAPITAL
EXPENDITURES for BORROWER’S 2010 fiscal year, to adjust the amortization schedule
of FIXED RATE LOAN and to otherwise amend the AGREEMENT as provided for in this
Amendment; and

          WHEREAS,
the parties hereto agree to amend the AGREEMENT as provided for in this
Amendment.

          NOW,
THEREFORE, in consideration of the amendments of the AGREEMENT set forth below,
the mutual covenants herein and other good and valuable consideration, the
sufficiency and receipt of which is hereby acknowledged, the parties agree to
amend the AGREEMENT as follows:

          1.
Capitalized terms used herein shall have the meaning given to such terms in the
AGREEMENT as amended in this Amendment, unless specifically defined herein.

          2.
The definition of the term “EURODOLLAR BUSINESS DAY” in Section 1.7 of the
AGREEMENT is hereby deleted in its entirety and the following is inserted in
lieu thereof:

“LONDON
BANKING DAY” means any day other than a Saturday or Sunday, on which commercial
banking institutions in London, England are generally open for business.

All references
to the term EURODOLLAR BUSINESS DAY in the AGREEMENT and/or in any other LOAN
DOCUMENT is hereby amended to refer to LONDON BANKING DAY.

          3.
The definition of the term “INTEREST PERIOD” in Section 1.25 of the AGREEMENT
is hereby deleted in its entirety and the following is inserted in lieu
thereof:

	
  

 	
  

 
	
  

 	
 1.25 “INTEREST PERIOD” means for the FIXED RATE NOTES, FIXED RATE II
 NOTES, VARIABLE RATE NOTES, LONG TERM REVOLVING NOTES and REVOLVING NOTES a
 period of three (3) months; provided that no INTEREST PERIOD shall extend
 beyond the LOAN TERMINATION DATE applicable to such NOTE.

 

          4.
The definition of the term “LIBOR RATE” in Section 1.26 of the AGREEMENT is
hereby deleted in its entirety and the following is inserted in lieu thereof:

	
  

 	
  

 
	
  

 	
 1.26 “LIBOR
 RATE” means, an independent index which is the London Interbank Offered Rate
 for U.S. Dollar deposits published in The Wall Street Journal as the Three (3)
 Month LIBOR RATE. The LIBOR RATE will be adjusted and determined without
 notice to BORROWER on the INTEREST RATE CHANGE DATE applicable to each LOAN
 as set forth in this AGREEMENT. If for any reason the LIBOR RATE published by
 The
 Wall Street Journal is no longer available and/or ADMINISTRATIVE
 AGENT is unable to determine the LIBOR RATE for any INTEREST RATE CHANGE
 DATE, ADMINISTRATIVE AGENT may, in its sole discretion, select an alternate
 source to determine the LIBOR RATE and will provide notice to BORROWER and
 each BANK of the source selected. The LIBOR RATE determined as set forth
 above shall be referred to herein as (the “Index”). The Index is not
 necessarily the lowest rate charged by ADMINISTRATIVE AGENT or any BANK on
 its loans. If the Index becomes unavailable during the term of the LOANS,
 ADMINISTRATIVE AGENT may designate a substitute index after notifying
 BORROWER and BANKS. ADMINISTRATIVE AGENT will tell BORROWER the current Index
 rate upon BORROWER’S request. The interest rate change will not occur more
 often than each quarter on the first (1st) calendar day of the applicable
 quarter with respect to the REVOLVING LOAN, the eighth (8th)

 

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 calendar day
 of the applicable quarter with respect to the TERM LOANS other than the FIXED
 RATE II LOAN and the last calendar day of the applicable quarter with respect
 to the FIXED RATE II LOAN. BORROWER understands that BANKS may make loans
 based on other rates as well. The Index currently is .53844% per annum.

 

          5.
The definition of the term “LOAN TERMINATION DATE” in Section 1.28 of the
AGREEMENT is hereby amended by deleting the reference to September 17, 2010 as
the LOAN TERMINATION DATE applicable to the REVOLVING NOTES and inserting in
lieu thereof May 31, 2011. Anywhere else in the AGREEMENT which refers to
September 17, 2010 as the LOAN TERMINATION DATE of the REVOLVING NOTES is
hereby amended consistent with the foregoing. To further evidence the extension
of the LOAN TERMINATION DATE of the REVOLVING NOTES, BORROWER shall execute and
deliver to each BANK with a REVOLVING LOAN COMMITMENT AMOUNT a THIRD AMENDED
AND RESTATED REVOLVING PROMISSORY NOTE and all references to the REVOLVING
NOTES in the AGREEMENT and the other LOAN DOCUMENTS are hereby amended to refer
to such THIRD AMENDED AND RESTATED REVOLVING PROMISSORY NOTES. 

          6.
Section 1 of the AGREEMENT is hereby amended to insert the following definition
as new subsection 1.51:

	
  

 	
  

 
	
  

 	
 1.51
 “INTEREST CHANGE DATE” means, with respect to the REVOLVING LOAN, the first
 (1st) calendar day of each quarter on which the Index applicable to the
 REVOLVING LOAN will adjust to the Three (3) Month LIBOR RATE which is
 published in The Wall Street Journal as the reported rate for the date
 that is two LONDON BANKING DAYS prior to each such INTEREST RATE CHANGE DATE;
 with respect to the TERM LOANS other than the FIXED RATE II TERM LOAN, the
 eighth calendar day of each quarter on which the Index applicable to the TERM
 LOANS other than the FIXED RATE II LOAN will adjust to the Three (3) Month
 LIBOR RATE which is published in The Wall Street Journal as the reported
 rate for the date that is two LONDON BANKING DAYS prior to each such INTEREST
 RATE CHANGE DATE and with respect to the FIXED RATE II TERM LOAN, the last
 calendar day of each quarter on which the Index applicable to the FIXED RATE
 II LOAN will adjust to the Three (3) Month LIBOR RATE which is published in The Wall
 Street Journal as the reported rate for the date that is two
 LONDON BANKING DAYS prior to each such INTEREST RATE CHANGE DATE.

 

          7.
Section 2.6(a) of the AGREEMENT is hereby deleted in its entirety and the
following is inserted in lieu thereof:

	
  

 	
  

 
	
  

 	
 (a). FIXED
 RATE NOTES. Interest on the principal balance outstanding on the FIXED RATE
 NOTES shall accrue and be calculated using a rate of Three Percent (3%) over
 the Index resulting in an initial rate of 3.294% per annum based on a year of
 360 days. Interest on the FIXED RATE NOTES is computed on an actual/360
 basis; that is, by applying the ratio of the interest rate over a year of 360
 days, multiplied by the outstanding principal balance, multiplied by the
 actual number of days the principal balance is outstanding. All interest
 payable under the FIXED RATE NOTES is 

 

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 computed
 using this method. NOTICE: Under no circumstances will the interest rate on
 the FIXED RATE NOTES be more than the maximum rate allowed by applicable law.
 The principal balance of the FIXED RATE NOTES will bear interest after
 maturity and after the occurrence and during the continuance of an EVENT OF
 DEFAULT at a variable per annum rate equal to the Index plus nine percent
 (9%), but not to exceed the maximum rate allowed by law. BORROWER will pay
 interest quarterly, in arrears, on the same dates that principal installments
 are due. Accrued and unpaid interest must also be paid on the LOAN
 TERMINATION DATE applicable to the FIXED RATE LOAN, whether by acceleration
 or otherwise. The interest rate change will not occur more often than each
 quarter on the INTEREST RATE CHANGE DATE applicable to the TERM LOANS.

 

To the extent
necessary, the FIXED RATE NOTES are hereby amended consistent with the foregoing.

          8.
Section 2.6(d) of the AGREEMENT is hereby deleted in its entirety and the
following is inserted in lieu thereof:

	
  

 	
  

 
	
  

 	
 (a). FIXED
 RATE II NOTES. Interest on the principal balance outstanding on the FIXED
 RATE II NOTES shall accrue and be calculated using a rate of Three Percent
 (3%) over the Index resulting in an initial rate of 3.294% per annum based on
 a year of 360 days. Interest on the FIXED RATE II NOTES is computed on an
 actual/360 basis; that is, by applying the ratio of the interest rate over a
 year of 360 days, multiplied by the outstanding principal balance, multiplied
 by the actual number of days the principal balance is outstanding. All
 interest payable under the FIXED RATE II NOTES is computed using this method.
 NOTICE: Under no circumstances will the interest rate on the FIXED RATE II
 NOTES be more than the maximum rate allowed by applicable law. The principal
 balance of the FIXED RATE II NOTES will bear interest after maturity and
 after the occurrence and during the continuance of an EVENT OF DEFAULT at a
 variable per annum rate equal to the Index plus nine percent (9%), but not to
 exceed the maximum rate allowed by law. BORROWER will pay interest quarterly,
 in arrears, on the same dates that principal installments are due. Accrued
 and unpaid interest must also be paid on the LOAN TERMINATION DATE applicable
 to the FIXED RATE II LOAN, whether by acceleration or otherwise. The interest
 rate change will not occur more often than each quarter on the INTEREST RATE
 CHANGE DATE applicable to the FIXED RATE II TERM LOAN.

 

To the extent
necessary, the FIXED RATE II NOTES are hereby amended consistent with the
foregoing.

          9.
Section 2.10 of the AGREEMENT is hereby deleted in its entirety and the
following is inserted in lieu thereof:

	
  

 	
  

 
	
  

 	
 2.10 INTEREST ON THE REVOLVING NOTES. Prior to maturity and
 subject to the incentive pricing provisions contained in Section 2.15 of this
 AGREEMENT, interest on the REVOLVING NOTES shall accrue and be calculated
 using a rate of 3.1% over the 

 

- 4 -

	
  

 	
  

 
	
  

 	
 Index, adjusted if necessary for any minimum and
     maximum rate limitations described below, resulting in an initial rate of
     5.10% per annum based on a year of 360 days. Interest on the REVOLVING NOTES
     is computed on an actual/360 basis; that is, by applying the ratio of the
     interest rate over a year of 360 days, multiplied by the outstanding principal
     balance, multiplied by the actual number of days the principal balance is
     outstanding. All interest payable under the REVOLVING NOTES is computed
     using this method. NOTICE: With respect to the REVOLVING NOTES, under no
     circumstances will the Index be less than two percent (2%) per annum. The
     principal balance of the REVOLVING NOTES will bear interest after maturity
     and after the occurrence and during the continuance of an EVENT OF DEFAULT
     at a variable per annum rate equal to the Index plus six percent (6%), but
     not to exceed the maximum rate allowed by law. Borrower will pay interest
     quarterly, in arrears, on the first calendar day of each quarter. Accrued
     and unpaid interest must also be paid on the LOAN TERMINATION DATE applicable
     to the REVOLVING LOAN, whether by acceleration or otherwise. The interest
     rate change will not occur more often than each quarter on the INTEREST
     RATE CHANGE DATE applicable to the REVOLVING LOAN.

 

          10.
The third paragraph of Section 2.5 of the AGREEMENT is hereby deleted in its
entirety and the following is inserted in lieu thereof:

	
  

 	
  

 
	
  

 	
 On the last calendar day of each quarter, commencing with the quarter
 ending after the CONSTRUCTION LOAN TERMINATION DATE, BORROWER will pay to
 ADMINISTRATIVE AGENT on the FIXED RATE II NOTES, for the account of BANKS in
 accordance with their respective COMMITMENTS in the FIXED RATE II LOAN, the
 scheduled principal payment shown in Schedule II, attached to this AGREEMENT
 and by this reference made a part hereof, plus accrued interest on the FIXED
 RATE II NOTES.

 

          11.
Schedule “I” and Schedule “II” to the AGREEMENT are each hereby deleted in
their entirety and the Schedule “I” and Schedule “II” attached to this
Amendment are inserted in lieu thereof. 

          12.
The first paragraph of Section 2.12 of the AGREEMENT is deleted in its entirety
and the following is inserted in lieu thereof:

	
  

 	
  

 
	
  

 	
 2.12 Payments and Prepayments. All principal, interest and
 fees due under the OBLIGATIONS and the LOAN DOCUMENTS shall be paid in
 immediately available funds as contracted in this AGREEMENT and no later than
 the applicable payment due dates set forth in this AGREEMENT (and with
 regards to fees, the due dates set forth in the periodic statements mailed to
 BORROWER by ADMINISTRATIVE AGENT). Should a payment come due on a day other
 than a BANKING DAY, then the payment shall be made no later than the next
 BANKING DAY and interest shall continue to accrue during the extended period.

 

- 5 -

          13.
Section 6.1.9 of the AGREEMENT is hereby deleted in its entirety and the
following is inserted in lieu thereof:

	
  

 	
  

 
	
  

 	
 6.1.9 BORROWER provide BANK with a BORROWING BASE certificate in form
 reasonably acceptable to BANK, calculating the amount available for borrowing
 under the BORROWING BASE at the time of the initial request for an advance on
 the REVOLVING LOAN and monthly thereafter while a balance is outstanding on
 the REVOLVING LOAN or as requested by BANK; provided, however, that any time
 the outstanding balance of the REVOLVING LOAN exceeds 50% of the available
 borrowings on the REVOLVING LOAN, then BORROWER will provide BANK with
 BORROWING BASE certificates twice per month, on the 15th and last
 day of the month and any time the outstanding balance of the REVOLVING LOAN
 exceeds 75% of the available borrowings on the REVOLVING LOAN, then BORROWER
 will provide BANK with weekly BORROWING BASE certificates.

 

          14.
Effective for BORROWER’S 2010 fiscal year only, Section 6.4.11 is hereby
amended by deleting the reference to $1,000,000.00 as the maximum amount of
BORROWER’S capital expenditures in BORROWER’S 2010 fiscal year and inserting in
lieu thereof $5,000,000.00. Such increase will be used by BORROWER for the sole
purpose of construction and equipping of 2 additional grain bins at the
PROJECT. Commencing with BORROWER’S 2011 fiscal year, and for each fiscal year
thereafter, BORROWER’S capital expenditures in any such fiscal year may not
exceed $1,000,000.00 without the prior written consent of ADMINISTRATIVE AGENT
as provided for in Section 6.4.11. BANKS acknowledge that on May 10, 2010
BORROWER prepaid $1,000,000.00 of BORROWER’S obligation to pay EXCESS CASH FLOW
for BORROWER’S 2010 fiscal year under Section 6.2.3 of the AGREEMENT. 

          15..
This Amendment shall not be effective until the ADMINISTRATIVE AGENT shall have
received each of the following (each in form and substance acceptable to the
ADMINISTRATIVE AGENT) or the following conditions have been satisfied:

	
  

 	
  

 	
  

 
	
  

 	
 (a).

 	
 This
 Amendment, duly executed by BORROWER and each BANK.

 
	
  

 	
  

 	
  

 
	
  

 	
 (b).

 	
 The THIRD
 AMENDED AND RESTATED REVOLVING PROMISSORY NOTES, duly executed by BORROWER.

 
	
  

 	
  

 	
  

 
	
  

 	
 (c).

 	
 Such other
 matters as the ADMINISTRATIVE AGENT may reasonably require.

 

          16.
Except as modified and amended herein, all other terms, provisions, conditions
and obligations imposed under the terms of the AGREEMENT and the other LOAN
DOCUMENTS shall remain in full force and effect and are hereby ratified and
affirmed by BORROWER. To the extent necessary, the other LOAN DOCUMENTS are
hereby amended to be consistent with the terms of this Amendment.

          17.
BORROWER certifies and reaffirms by its execution hereof that the
representations and warranties set forth in the AGREEMENT and the other LOAN 

- 6 -

DOCUMENTS are
true and complete as of this date, and that no EVENT OF DEFAULT under the
AGREEMENT or any other LOAN DOCUMENT, and no event which, with the giving of
notices or passage of time or both, would become such an EVENT OF DEFAULT, has
occurred as of execution hereof. This Amendment may be executed simultaneously
in several counterparts, each of which shall be deemed an original but which
together shall constitute one and the same instrument.

[SIGNATURE PAGES FOLLOW]

- 7 -

          IN
WITNESS WHEREOF, the parties have executed and delivered this Amendment on the
date first written above. 

	
  

 	
  

 	
  

 
	
  

 	
 ONE EARTH
 ENERGY, LLC

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	

 
	
  

 	
  

 	

 

 
	
  

 	
 Title:

 	
 President

 
	
  

 	
  

 	
  

 
	
  

 	
 FIRST
 NATIONAL BANK OF OMAHA, 

 in its capacity as a BANK, 

 ADMINISTRATIVE AGENT,

 COLLATERAL AGENT and ACCOUNTS 

 BANK

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	

 
	
  

 	
  

 	

 

 
	
  

 	
 Title:

 	
 Vice
 President

 

	
  

 	
  

 	
  

 
	
  

 	
 1st
 FARM CREDIT SERVICES, as a 
BANK

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
 DALE A.
 RICHARDSON

 
	
  

 	
 Title:

 	
 VP Illinois
 Capital Markets Group

 

	
  

 	
  

 	
  

 
	
  

 	
 BUSEY BANK,
 as a BANK

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	

 
	
  

 	
  

 	

 

 
	
  

 	
 Title:

 	
 Sr. V.P.

 

	
  

 	
  

 	
  

 
	
  

 	
 CAPITAL FARM
 CREDIT, as a BANK

 
	
  

 	
  

 
	
  

 	
 By:

 	
 

 
	
  

 	
  

 	

 

 
	
  

 	
 Title:

 	
 President
 Corporate Lending

 

	
  

 	
  

 	
  

 
	
  

 	
 CITIZENS
 FIRST NATIONAL BANK, as
a BANK

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
 

 
	
  

 	
  

 	

 

 
	
  

 	
 Title:

 	
 VP
 Agribusiness Banking

 

	
  

 	
  

 	
  

 
	
  

 	
 COBANK, as a
 BANK

 
	
  

 	
  

 
	
  

 	
 By:

 	
 

 
	
  

 	
  

 	

 

 
	
  

 	
 Title:

 	
 Vice
 President

 

	
  

 	
  

 	
  

 
	
  

 	
 DEERE
 CREDIT, INC., as a BANK

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	

	
  

 	
  

 	

 

 
	
  

 	
 Title:

 	
 VICE
 PRESIDENT

 

	
  

 	
  

 	
  

 
	
  

 	
 FARM CREDIT
 SERVICES OF

 
	
  

 	
 AMERICA, as
 a BANK

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	

	
  

 	
  

 	

 

 
	
  

 	
 Title:

 	
 VP Credit

 

	
  

 	
  

 	
  

 
	
  

 	
 M & I
 MARSHALL & ISLEY BANK, as a 
BANK

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	

	
  

 	
  

 	

 

 
	
  

 	
 Title:

 	
 Vice
 President

 

	
  

 	
  

 	
  

 
	
  

 	
 QUAD CITY
 BANK AND TRUST, 
as a BANK

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	

	
  

 	
  

 	

 

 
	
  

 	
 Title:

 	
 Vice
 President

 

	
  

 	
  

 	
  

 
	
  

 	
 TRANSAMERICA
 LIFE 

 
	
  

 	
 INSURANCE
 COMPANY, as a BANK

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	

	
  

 	
  

 	

 

 
	
  

 	
 Title:

 	
 Vice
 President

 

SCHEDULE “I” TO CONSTRUCTION LOAN AGREEMENT

AMORTIZATION SCHEDULE – U.S. RULE (NO
COMPOUNDING), 360 DAY YEAR

	
  

 
	

 

 
	
 One Earth Energy, LLC Fixed Rate Loan

 
	
 Principal Schedule for Payments Plus Interest

 
	

 

 

AMORTIZATION SCHEDULE - U.S. Rule (no
compounding), actual/365 Day Year

	 
	 
	 
	 
	 
	 

	Quarterly 

    Payments
	 
	Principal
	 

	
    	
    	
    	 

	     Loan
	 
	 
	 

	07/31/2009
	 
	 
	$1,058,336.17
	 
	 

	10/08/2009
	 
	 
	818,569.74
	 
	 

	01/08/2010
	 
	 
	857,646.07
	 
	 

	04/08/2010
	 
	 
	864,461.80
	 
	 

	07/08/2010
	 
	 
	871,811.06
	 
	 

	10/08/2010
	 
	 
	890,080.34
	 
	 

	01/08/2011
	 
	 
	929,068.06
	 
	 

	04/08/2011
	 
	 
	938,157.78
	 
	 

	07/08/2011
	 
	 
	947,861.22
	 
	 

	10/08/2011
	 
	 
	967,724.18
	 
	 

	01/08/2012
	 
	 
	997,309.53
	 
	 

	04/08/2012
	 
	 
	1,017,981.54
	 
	 

	07/08/2012
	 
	 
	1,030,234.92
	 
	 

	10/08/2012
	 
	 
	1,051,824.07
	 
	 

	01/08/2013
	 
	 
	1,090,611.36
	 
	 

	04/08/2013
	 
	 
	1,104,844.44
	 
	 

	07/08/2013
	 
	 
	1,119,872.62
	 
	 

	10/08/2013
	 
	 
	1,143,340.18
	 
	 

	01/08/2014
	 
	 
	1,182,014.07
	 
	 

	04/08/2014
	 
	 
	31,118,250.85
	 
	 

	 
	 
	 
	 
	 
	 

	Totals
	 
	 
	50,000,000.00
	 
	 

 

SCHEDULE “II” TO CONSTRUCTION LOAN AGREEMENT 

AMORTIZATION SCHEDULE – U.S. RULE (NO
COMPOUNDING), 360 DAY YEAR

	
  

 
	

 

 
	
 One Earth Energy, LLC Fixed Rate II Loan
Principal Schedule for Payments Plus Interest

 
	

 

 
	
 
AMORTIZATION SCHEDULE - U.S. Rule (no
 compounding), 360 Day Year

 

	 
	 
	 
	 
	 
	 

	Quarterly 

      Payments
	 
	Principal
	 

	
    	
    	
    	 

	     Loan
	 
	 
	 

	07/31/2009
	 
	 
	$473,160.00
	 
	 

	10/31/2009
	 
	 
	473,160.00
	 
	 

	01/31/2010
	 
	 
	473,160.00
	 
	 

	04/30/2010
	 
	 
	473,160.00
	 
	 

	07/31/2010
	 
	 
	498,902.00
	 
	 

	10/31/2010
	 
	 
	498,902.00
	 
	 

	01/31/2011
	 
	 
	498,902.00
	 
	 

	04/30/2011
	 
	 
	21,610,654.00
	 
	 

	 
	 
	 
	 
	 
	 

	Totals
	 
	 
	25,000,000.00

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00182-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00182-of-00352.parquet"}]]