Document:

EX - 10.11B

Exhibit 10.11B

AMENDMENT NO. 2 TO THE 
CHS INC. 
NONEMPLOYEE DIRECTOR RETIREMENT PLAN
CHS Inc., pursuant to the power of amendment reserved to it in Section 7.1 of the CHS Inc. Nonemployee Director Retirement Plan (“Plan”), hereby amends the Plan in the manner set forth below.
Effective for each Director who was serving as an Eligible Director as of August 31, 2011, Amendment No. 1 is clarified by correcting the last sentence in Section 5 of the Plan to read as follows:
The amount of the Eligible Director’s monthly retirement benefit under the Plan shall equal Two Hundred Fifty Dollars ($250) multiplied by the Eligible Director’s Years of Service, subject to a maximum monthly benefit of Three Thousand Seven Hundred Fifty Dollars ($3,750).
Save and except as hereinabove amended, the Amendment No. 1 and the Plan shall remain in full force and effect.

IN WITNESS WHEREOF, CHS Inc. has caused its name to be hereunto subscribed on this 11 day of July, 2012.
	
			
	 
	CHS INC.

	 
	 
	 

	 
	By: 
	/s/Jerry Hasnedl

	 
	Its: 
	Chairman of the BoardEX - 10.21A

Exhibit 10.21A

FIRST AMENDMENT 
OF 
CHS INC. 
DEFERRED COMPENSATION PLAN 
(2011 Restatement)
WHEREAS, CHS Inc. (the “Company”) has heretofore established and maintains a nonqualified deferred compensation plan which is currently embodied in an amended and restated document effective September 1, 2011 and entitled “CHS Inc. Deferred Compensation Plan, Master Plan Document (2011 Restatement)” (the “Plan document”);
WHEREAS, the Company has reserved to itself the power to make further amendments of the Plan document;
NOW, THEREFORE, the Plan document is hereby amended as follows:
1.DEFAULT INVESTMENT.  Effective June 1, 2012, the second sentence in Section 3.10(b) shall be amended to read as follows:
If a Participant does not elect any of the Measurement Funds as described in the previous sentence, the Participant’s Account Balance shall automatically be allocated into such default Measurement Fund as determined by the Committee from time to time, in its sole discretion.  
2.    CHANGE IN CONTROL BENEFIT - DEFAULT.  Effective June 1, 2012, the last sentence in Section 5.1 shall be amended to read as follows:
If a Participant does not make any election with respect to the payment of the Change in Control Benefit, then:  (i) for Participants who first entered the Plan prior to June 1, 2012, such Participant’s Account Balance shall remain in the Plan upon a Change in Control and shall be subject to the terms and conditions of the Plan; and (ii) for Participants who first enter the Plan on or after June 1, 2012, such Participant’s Account Balance shall receive a Change in Control Benefit upon the occurrence of a Change in Control.
3.    SAVINGS CLAUSE.  Save and except as expressly herein amended, the Plan document shall remain in full force and effect.
	
			
	 
	CHS INC.

	 
	 
	 

	 
	By: 
	/s/Carl M. Casale

	 
	Its: 
	President and CEOEX - 10.21B

Exhibit 10.21B

SECOND AMENDMENT 
OF 
CHS INC. 
DEFERRED COMPENSATION PLAN 
(2011 Restatement)
WHEREAS, CHS Inc. (the “Company”) has heretofore established and maintains a nonqualified deferred compensation plan which is currently embodied in an amended and restated document effective September 1, 2011 and entitled “CHS Inc. Deferred Compensation Plan, Master Plan Document (2011 Restatement)” as amended (collectively, the “Plan document”);
WHEREAS, the Company has reserved to itself the power to make further amendments of the Plan document;
NOW, THEREFORE, the Plan document is hereby amended as follows:
1.CLARIFICATION.  Effective August 15, 2012, the reference to “Article 13” as it appears in the definition of “Committee” in Section 1.15 of the Plan document shall be changed to “Article 14”.
2.    SELECTION.  Effective August 15, 2012, Section 2.1 of the Plan document shall be amended to read as follows:
		
	2.1
	Selection.  Participation in the Plan shall be limited to Directors and, as determined by the Chief Executive Officer in his or her sole discretion, a select group of management or highly compensated Employees.  From that group, the Chief Executive Officer shall select, in his or her sole discretion, those individuals who may actually participate in this Plan.  

3.    REMOVAL OF LIMITATION.  Effective August 15, 2012, the clause stating “Provided, however, a Participant may elect to postpone each Scheduled Distribution no more than three (3) times” as it appears at the end of Section 4.2(c) of the Plan document shall be deleted without replacement, and the semi-colon at the end of Section 4.2(c) shall be replaced with a period.
4.    SAVINGS CLAUSE.  Save and except as expressly herein amended, the Plan document shall remain in full force and effect.

IN WITNESS WHEREOF, CHS Inc. has caused its name to be hereunto subscribed on this 28th day of August, 2012.
	
			
	 
	CHS INC.

	 
	 
	 

	 
	By: 
	/s/Carl M. Casale

	 
	Its: 
	President and Chief Executive OfficerEX - 10.46A

Exhibit 10.46A

FIRST AMENDMENT TO AMENDED AND RESTATED
LOAN ORIGINATION AND PARTICIPATION AGREEMENT
THIS FIRST AMENDMENT TO AMENDED AND RESTATED LOAN ORIGINATION AND PARTICIPATION AGREEMENT (“First Amendment”) is made and entered into as of this 27 day of September, 2012, by and between AgStar Financial Services, PCA, d/b/a ProPartners Financial (“ProPartners”), and CHS Capital, LLC, formerly known as Cofina Financial, LLC (“CHS”).
RECITALS 
FIRST:  ProPartners and CHS are parties to an Amended and Restated Loan Origination and Participation Agreement dated September 1, 2011 (the “Agreement”), which governs the terms under which ProPartners will purchase up to a 100% participation interest in certain loans originated by CHS.
SECOND:  The parties hereto have agreed to amend the Agreement in accordance with the terms and conditions of this First Amendment.
NOW THEREFORE, in consideration of the foregoing recitals, the agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, ProPartners and CHS hereby agree as follows:
1.    Amendment to the Agreement.  Section 2.01 of the Agreement is hereby deleted in its entirety and replaced with the following:  
		
	2.01
	CHS shall originate and make the Loans to Borrowers in accordance with the Loan Underwriting Criteria, the proceeds of which will be used to finance the Borrowers’ agricultural production or processing activities.  ProPartners shall then purchase up to a 100% participation interest, or in the case of Cooperative/Commercial Loans, such portion of such Cooperative/Commercial Loan offered to ProPartners, from CHS (a “Participation Interest”) in each Loan (each, a “Participated Loan” and collectively, the “Participated Loans”), in an aggregate principal amount totaling up to $300,000,000 in accordance with the terms of this Agreement.  Subject to the limitations set forth in this Agreement, ProPartners hereby grants CHS delegated authority to approve all Loans with a Commitment amount that is less than or equal to $1,000,000 and to administer ProPartners’ purchase of a Participation Interest in such Loans (“Delegated Authority Loans”).  Each offer to purchase a Participation Interest (for purchase on the next Purchase Date) of Loans that are not Delegated Authority Loans shall be extended to ProPartners by delivery to ProPartners of a true and correct Loan Package with respect to such Loan and ProPartners may, in its sole discretion, purchase a Participation Interest in such Loans under the terms of this Agreement.  With respect to all Loans that ProPartners is purchasing a Participation Interest and all Loans where ProPartners is being offered a Participation Interest, CHS shall deliver to ProPartners a true and correct list with respect to each such Loan setting forth the Commitment to the Borrower thereunder and the amount of any advances CHS has or will have made under each such Loan as of such Purchase Date, in each case with adequate supporting documentation of the amount of such advances.

2.    No Other Amendments.  Except as expressly amended hereby, the Agreement shall remain unmodified and in full force and effect.
3.    Miscellaneous.
		
	a.
	All references in the Agreement to the term “this Agreement” shall hereafter be deemed to refer to the Agreement as amended by this First Amendment and as may be further amended, modified, restated or replaced pursuant to a written agreement signed by the parties hereto.  

		
	b.
	This First Amendment may be executed in any number of counterparts with the same effect as if all 

1

parties hereto had signed the same document.  All such counterparts shall be construed together and shall constitute one instrument, but in making proof hereof it shall only be necessary to produce one such counterpart.

[signature page follows]

2

IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be executed by their respective officers thereunto duly authorized as of the day and year first above written.
	
			
	 
	AGSTAR FINANCIAL SERVICES, PCA, D/B/A

	 
	PROPARTNERS FINANCIAL

	 
	 
	 

	 
	By: 
	/s/Chris Mueller

	 
	Its: 
	President

	
			
	 
	CHS CAPITAL, LLC

	 
	 
	 

	 
	By: 
	/s/Brian Legried

	 
	Its: 
	President

3EX - 10.47C

Exhibit 10.47C

AMENDMENT NO. 3 TO NOTE PURCHASE AGREEMENT 
(Series 2010-A) 

THIS AMENDMENT NO. 3 TO NOTE PURCHASE AGREEMENT (Series 2010-A) (this “Amendment”) is executed as of April 11, 2012, by and among Cofina Funding, LLC, as the Issuer (the “Issuer”), NIEUW AMSTERDAM RECEIVABLES CORPORATION, as the Conduit Purchaser, and COÖPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.,“RABOBANK NEDERLAND”, NEW YORK BRANCH (“Rabobank”), as the Funding Agent and as a Committed Purchaser.
RECITALS
WHEREAS, the parties hereto are parties to that certain Note Purchase Agreement dated as of December 23, 2010 (as amended through the date hereof, the “Agreement”); and
WHEREAS, the parties hereto desire to amend the Agreement as hereinafter set forth.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION 1.Certain Defined Terms.  Each capitalized term used but not defined herein shall have the meaning ascribed thereto or incorporated by reference in the Agreement.
SECTION 2.    Amendment to Agreement.  The Agreement is hereby amended as follows:
(a)    The “Maximum Funded Amount” is decreased to $125,000,000.
(b)    The Purchase Expiration Date is extended to April 10, 2013.
(c)    The form of Notice of Increase is amended to include a reference to the account to which such funding is to be directed:
US Bank
St Paul, MN
ABA # 091000022
Acct # 173103322058
Beneficiary Name:  Structured Finance Wire Clearing 
Attention:  Tiffany
SECTION 3.    Funding Agreement.  On the date hereof, the Issuer will request any necessary funds and/or provide any necessary prepayments such that, after giving effect to the decreased Maximum Funded Amount under Series 2010-A, each Series is utilized in the same proportion of its “Maximum Funded Amount.”
SECTION 4.    Effect of Amendment.  Except as expressly amended and modified by this Amendment, all provisions of the Agreement shall remain in full force and effect. After this Amendment becomes effective, all references in the Agreement to “this Agreement”, “hereof”, “herein” or words of similar effect referring to the Agreement shall be deemed to be references to the Agreement as amended by this Amendment. This Amendment shall not be deemed to expressly or impliedly waive, amend or supplement any provision of the Agreement other than as set forth herein.
SECTION 5.    Effectiveness.  This Amendment shall become effective on the first date on which Rabobank has received:

701509965 05080260

(a)    counterparts of this Amendment executed by each of the parties hereto (whether by facsimile or otherwise); and
(b)    the fee set forth in the fee letter dated the date hereof.
SECTION 6.    Counterparts.  This Amendment may be executed by different parties in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which when so executed shall together constitute but one and the same instrument.
SECTION 7.    Governing Law.  This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York.
SECTION 8.    Section Headings.  The various headings of this Amendment are inserted for convenience only and shall not affect the meaning or interpretation of this Amendment or the Agreement or any provision hereof or thereof.
[Signatures Follow]

701509965 05080260    2

IN WITNESS WHEREOF, the undersigned have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first written above.
	
			
	 
	COFINA FUNDING, LLC, 

	 
	as the Issuer

	 
	 
	 

	 
	By: 
	/s/James M. Grafing

	 
	Name: 
	James M. Grafing

	 
	Title:
	Chief Financial Officer

 

[Signatures Continue on the Following Page]

701509965 05080260    S-1    Amendment No. 3 to Series 2010-A NPA

	
			
	 
	NIEUW AMSTERDAM RECEIVABLES

	 
	CORPORATION,

	 
	as the Conduit Purchaser

	 
	 
	 

	 
	By: 
	/s/Damian Perez

	 
	Name: 
	Damian Perez

	 
	Title:
	Vice President

 
	
			
	 
	COÖPERATIEVE CENTRALE RAIFFEISEN-

	 
	BOERENLEENBANK B.A.,“RABOBANK

	 
	NEDERLAND”, NEW YORK BRANCH, 

	 
	as Funding Agent and Committed Purchaser

	 
	 
	 

	 
	By: 
	/s/Dana Hartman

	 
	Name: 
	Dana Hartman

	 
	Title:
	Executive Director

	 
	 
	 

	 
	By:
	/s/Izumi Fukushima

	 
	Name:
	Izumi Fukushima

	 
	Title:
	Executive Director

  

701509965 05080260    S-2    Amendment No. 3 to Series 2010-A NPA

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