Document:

Exhibit 10.3 - Executive Retiree Medical Benefit Plan

Exhibit 10.3

    

    Frontier
      Oil Corporation

    Executive
      Retiree Medical Benefit

    

    

    Summary
      and Purpose

    In
      order
      to facilitate the transition of senior leadership at Frontier and in recognition
      of service to the Company, a post-retirement medical benefit is proposed for
      executives at the level of Executive Vice President and above. A summary of
      the
      proposed coverage appears in the table below:

    

    
      	 	
              Minimum
                Benefit

            	
              Maximum
                Benefit

            
	
              Qualification:

            	 	 
	
              Title

            	
              EVP
                and above

            	
              EVP
                and above

            
	
              Length
                of Service

            	
              >
                5 but less than 20 years

            	
              >
                20 or more years

            
	
              Age

               

            	
              58
                or older

            	
              62
                or older

            
	
              Benefit
                Provided:

            	 	 
	
              Employee,
                until age 65 (1)

            	
              Same
                medical benefits as active employees

            	
              Same
                medical benefits as active employees

            
	
              Spouse,
                until age 65 (1)

            	
              Same
                medical benefits as active employees

            	
              Same
                medical benefits as active employees

            
	
              Employee,
                after age 65 (1)

            	
              No
                Benefit

            	
              Supplement
                to Medicare Parts A, B & D (2)

            
	
              Spouse,
                after age 65 (1)

               

            	
              No
                Benefit

            	
              Supplement
                to Medicare Parts A, B & D (2)

            
	
              Cost
                to Executive:

            	 	 
	
              Annual
                Premium

            	
              1.25
                x COBRA Rate (3)

            	
              1.0
                x COBRA Rate(3)

            
	
              Deductibles
                and Co-Pays

            	
              Per
                medical plan

            	
              Per
                medical plan

            
	 	 	 

    

    

    	1)  	
            Or
              until the actual date of Medicare eligibility, if
              later.

          

    	2)  	
            Medicare
              Part A is coverage for hospitalization and hospice care. Medicare Part
              B
              primarily covers doctors’ fees, most outpatient hospital services, certain
              related charges, and many home health services. Medicare Part D covers
              prescription drug benefits.

          

    	3)  	
            The
              COBRA rate is premium cost (expected claims + fixed fees) of the medical
              benefit for the Company’s employee group + 2% administrative fee,
              currently about $12,000 per year for employee + spouse coverage prior
              to
              age 65, and $9,200 per year for supplemental coverage to Medicare Parts
              A,
              B, & D (employee and spouse)
              thereafter.

          

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Detail
      Description of Proposed Benefit and Cost to Company

    

    Qualification

    To
      qualify for this benefit, the executive must i) have retired from full-time
      employment with Frontier Oil Corporation after January 1, 2006, ii) have held
      the title of Executive Vice President or higher and iii) have provided service
      to the Company for at least five years, and iv) have been covered under the
      Frontier Oil Corporation Health Care Plan while an active employee.

    

    Nature
      of Benefit

    The
      proposed benefit varies with age and level of service. The minimum benefit
      is a
      continuation of medical coverage for the executive and his spouse in the plan
      available to Company employees until each of the executive and his spouse reach
      Medicare eligibility. For example, if the executive reaches Medicare eligibility
      prior to his spouse, his coverage under the minimum plan would terminate while
      the spouse’s coverage continues until she is Medicare-eligible. Thus, the
      minimum benefit is a “bridge to Medicare.” The maximum benefit (for qualifying
      executives) would include the “bridge to Medicare” until the executive or his
      spouse become Medicare-eligible, and then supplemental coverage to Medicare
      Part
      A, B, and D for each thereafter. The supplemental coverage is intended to pick
      up the difference in benefits between Medicare Part A, B, and D and the Frontier
      Plan. Note: Once the retired executive and/or his spouse is Medicare-eligible,
      then Medicare is the primary carrier and the Frontier supplemental coverage
      is
      secondary.

    

    Cost
      to Executive

    A
      significant component of the cost of this plan will be paid by the executive.
      Thus, the benefit is intended primarily to provide the executive with access
      to
      medical coverage at a reasonable cost - not to provide the executive with free
      medical care. 

    

    For
      the
      Minimum Benefit, the executive would pay 1.25 x the Company’s COBRA rate,
      effectively 1.25 x the premium cost of providing this benefit to the Company’s
      employee group. The 1.25 x factor is proposed because individuals 60 - 65 years
      of age generally incur medical expenses at a higher rate than the average of
      individuals younger than age 60.

    

    For
      the
      Maximum Benefit, the executive’s cost would fall to 1.0 x the Company’s COBRA
      rate. This is justified since the 62-year old executive has 18 months of COBRA
      coverage available to him under law at the 1.0 x COBRA rate, which takes him
      to
      within 18 months of Medicare eligibility. Once Medicare eligible, the Company’s
      average cost of providing the supplemental Medicare coverage to retirees is
      used
      as the proxy for setting the executive’s premium, providing an apples-to-apples
      comparison for setting this rate.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Cost
      to Company

    Due
      to
      the plan design, the benefit is intended to be approximately cost-neutral to
      the
      Company. This statement, however, is based on statistical averages across a
      broad group of covered employees. The actual costs of providing medical coverage
      to any single executive or his spouse will vary significantly. The Company’s
      actual cost incurred for an individual will be mitigated by two
      factors:

    

    	1)  	
            The
              Company purchases stop-loss coverage which limits its exposure to $100,000
              in annual claims for any single employee or covered dependent, and
              

          

    

    	2)  	
            The
              plan provides for a lifetime claims payment limit of $2 million (inside
              Frontier’s approved provider network) and $1 million (outside Frontier’s
              approved provider network) for any covered
              individual.

          

    

    The
      Company’s actual experience over the past three years (based on 730 employees
      who have employee only, employee + spouse, employee + children, or employee
      +
      family coverage) is that between 2 and 5 individuals exceed the $100,000 stop
      loss each year. The Company’s cost to buy this coverage is approximately $1,650
      per covered employee per year.

    

    Reservation
      of Rights

    The
      Company reserves the right to modify or terminate this Plan in the future at
      its
      sole discretion.<PAGE>
                                                                    EXHIBIT 10.1

                           ETHANOL MARKETING AGREEMENT

This Ethanol Marketing Agreement ("Agreement") is made and entered into as of
the 14th day of October 2002 by and between VeraSun Energy Corporation, a South
Dakota corporation ("VERASUN") and Williams Ethanol Services, Inc., a Delaware
Corporation DBA Williams Bio-Energy ("WES").

In consideration of the mutual terms and conditions contained herein, the
Parties agree as follows:

1.   Terms and Termination

     A.   The term of this Agreement shall commence on the first day of ethanol
          sales and continue for a primary term of two (2) years and thereafter,
          renewing for consecutive two (2) year terms, unless terminated by
          either party with at least six (6) months prior written notice without
          cause.

     B.   In addition, this Agreement may be terminated under the circumstances
          set out below.

          (1)  Termination for Intentional Misconduct. If either party engages
               in intentional misconduct reasonably likely to result in
               significant adverse consequences to the other party, the party
               harmed or likely to be harmed by the intentional misconduct may
               terminate this Agreement immediately, upon written notice to the
               party engaging in the intentional misconduct.

          (2)  Termination for Uncured Breach. If one of the parties breaches
               the terms of this Agreement, the other party may give the
               breaching party a notice in writing which specifically sets out
               the nature and extent of the breach, and the steps that must be
               taken to cure the breach. After receiving the written notice, the
               breaching party will then have thirty (30) days to cure the
               breach, if the breach does not involve a failure to make any
               payments which are required by this Agreement.

               If breach involves lack of payment beyond the established
               delinquency period, as specified in this Agreement, VERASUN may
               terminate this Agreement immediately and without prior written
               notice.

          (3)  Change of Control. Based on a change of majority interest in WES,
               VERASUN shall have six (6) months to terminate this agreement
               following the receipt of written notice regarding such change of
               ownership. WES must notify VERASUN of said event in writing
               within two (2) weeks of event. VERASUN may terminate agreement
               with (30) days written notice within said six (6) month period.

                                        1

<PAGE>

          (4)  Termination by Mutual Written Agreement. This Agreement may also
               be terminated upon any terms and under any condition, which are
               mutually agreed upon in writing by WES and VERASUN.

          (5)  Termination by Bankruptcy, Etc. This Agreement may also be
               terminated immediately and without prior notice by a party as a
               result of the other party's bankruptcy, assignment for the
               benefit of creditors, admission in writing of its inability to
               pay debts generally, or its liquidation, insolvency or
               dissolution.

2.   Quantity and Quality

     A.   VERASUN shall sell to WES the total output of fuel grade ethanol
          ("Ethanol") produced at the VERASUN Aurora, South Dakota, facility
          ("Plant"), currently anticipated to be one hundred (100) million
          gallons per year. Ethanol shall be delivered FOB the Plant, and title
          shall pass as the Ethanol is loaded into transport vessels.

     B.   Such Ethanol shall meet or exceed all industry standards, including
          but not limited to ASTM D.4806 specifications and Williams Pipeline
          Company specifications for E-Grade Denatured Fuel Ethanol.

3.   WES shall:

     A.   Purchase all of the Ethanol produced by VERASUN, at the price outlined
          in Section 5;

     B.   Remit payment to VERASUN for the Ethanol as provided in Section 5; and

     C.   Schedule all loads with VERASUN.

     D.   Extend any alliance volume buying power of discounting to VERASUN.

     E.   Extend railcar freight rates negotiated by WES to VERASUN.

     F.   Participate with VERASUN in a monthly sales strategy call.

4.   VERASUN shall:

     A.   Provide to WES quarterly production forecasts, monthly updates, daily
          plant inventory balances and shipment information;

     B.   Provide to WES specifications and certificates of analysis of the
          Ethanol produced;

     C.   Provide for a minimum of eight days storage on the VERASUN premises;

                                        2

<PAGE>

     E.   Have meters that provide both gross and net 60 degrees Fahrenheit
          temperature compensated gallons; and

     F.   Establish and participate in monthly sales strategy meetings with WES.

5.   Pricing and Commission

     A.   Sale Price. The price VERASUN shall receive for its Ethanol shall be
          based upon the actual market price received by WES for the sale of the
          Ethanol as set forth below.

     B.   Costs. WES shall deduct all direct costs incurred by WES relating
          exclusively to marketing the Ethanol purchased from VERASUN,
          including, but not limited to, terminal lease charges, throughput
          charges, terminal shrinkage costs (not to exceed .5%), freight
          charges, tariffs, costs of leasing railcars and trucks, government
          taxes and assessments, inspection fees, and other similar costs. These
          costs shall be passed directly to VERASUN without WES markup. WES
          shall not deduct any general or administrative costs incurred in
          marketing the Ethanol. WES shall use commercially reasonable efforts
          to contain costs so as to maximize the net price payable to VERASUN
          for its Ethanol. In the event that VERASUN presents WES with
          alternatives that will reduce such costs, WES shall implement the
          alternatives where commercially reasonable.

     C.   Net Price. Net price is defined as sales price referred in Section
          5(A) less direct costs referred in Section 5(B) ("Net Price"). WES
          shall use commercially reasonable efforts to maximize the Net Price,
          commensurate with prevailing market conditions.

     D.   Establishing Minimum Net Price. VERASUN and WES agree to participate
          in monthly sales strategy meetings at which time VERASUN will
          establish a monthly minimum net price target. WES agrees to make best
          effort to meet or exceed minimum net price targets. If net price
          targets are not attainable:

          (1)  WES must obtain written authorization from VERASUN prior to
               selling below net price target;

          (2)  At VERASUN's request and expense, WES agrees to place VERASUN's
               ethanol in storage until pricing condition can be met

     E.   Commission. WES shall be paid a commission equal to (**) percent (**)
          of the Net Price, as defined in Section 5(C). The total commission
          shall not exceed (**) for the first (**) gallons produced on an annual
          basis. If annual production exceeds (**) gallons, VeraSun agrees to
          pay (**) percent (**) for all ethanol sold over (**) gallons per year.

     G.   Contract Authorization. WES must obtain written authorization from
          VERASUN for all contract sales:

1) This confidential information has been omitted pursuant to a request for
   confidential treatment.

2) The material has been filed separately with the SEC.

                                        3

<PAGE>

          (1)  Equal to or greater than one (1) million gallons;

          (2)  Where contract length is equal to or greater than six (6) months.

     H.   Payment. For all quantities of ethanol purchased by WES from VERASUN
          during a one-week period beginning on Monday and ending on the
          following Sunday, WES shall pay the Net Price referred to in Section
          5(C) less commissions referred to in Section 5(D), to VERASUN by ACH
          or wire no later than ten (10) business days following the end of said
          one-week period. WES shall pay interest on any delinquent payments at
          the rate of nine percent (9%) per annum, for the duration of the
          delinquency. In addition, WES shall reimburse VERASUN for any attorney
          fees or other costs incurred by VERASUN in collecting delinquent
          amounts owed by WES hereunder. WES is considered in breach of this
          Agreement if the delinquency period extends beyond thirty (30) days.

     I.   Supporting Records. WES shall keep a permanent, accurate set of books
          and records in accordance with generally accepting accounting
          principals with respect to all sales of Ethanol hereunder and all
          costs and commissions associated therewith, and shall make such books
          and records available to VERASUN at WES's office at any time by
          appointment during normal business hours upon at least three (3)
          business days prior written notice. In addition, WES shall provide
          VERASUN by e-mail or fax with supporting documentation regarding the
          calculation of the net sale price with each weekly payment for
          Ethanol.

6.   Indemnity: WES shall indemnify, defend, and hold VERASUN and its
     affiliates, subsidiaries, parents, directors, officers, employees,
     customers, contractors, subcontractors and agents harmless from and against
     any and all claims, losses, awards, judgments, settlements, fines,
     penalties, liabilities, damages, costs or expenses (including reasonable
     Attorney's fees) alleged or incurred on account of any injury to or death
     of persons or damages to property or any other claim to the extent caused
     by or arising out of the negligence or willful misconduct of WES, its
     officers, employees, customers, contractors, subcontractors or agents.

     VERASUN shall indemnify, defend, and hold WES and its affiliates,
     subsidiaries, parents, directors, officers, employees, and agents harmless
     from and against any and all claims, losses, awards, judgments,
     settlements, fines, penalties, liabilities, damages, costs or expenses
     (including reasonable Attorney's fees) alleged or incurred on account of
     any injury to or death of persons or damages to property or any other claim
     to the extent caused by or arising out of the negligence or willful
     misconduct of VERASUN, its officers, employees, customers, agents, or
     contractors. VERASUN shall indemnify and hold WES and its affiliates,
     subsidiaries, parents, directors, officers, employees, customers and agents
     harmless from and against any and all claims, losses, awards, judgments,
     settlements, fines, penalties, liabilities, damages, costs or expenses
     (including reasonable Attorney's fees) from any defects in the Ethanol
     caused by VERASUN.

7.   Independent Contractor: It is expressly understood that the relationship of
     WES to VERASUN is that of an independent contractor and nothing contained
     herein shall be construed to create any partnership, agency, or
     employer/employee relationship. WES may freely choose the customers from
     whom business shall be solicited and the time and place for solicitation,
     except as otherwise provided in this Agreement.

                                        4

<PAGE>

8.   Notices: Any notices required to be given under this Agreement shall be in
     writing and shall be deemed given upon personal delivery to the party to be
     notified; on the third day after deposit with the United States Postal
     Service, by registered or certified mail, postage prepaid; or upon
     confirmation if sent by telex, facsimile machine or other means of
     telecommunication that transmits or produces a written record of the
     message so sent. Notices shall be sent addressed as follows:

     VERASUN:   VERASUN Energy Corporation
                100 22nd Avenue
                Suite # 103
                Brookings, SD 57006
                Attn: Donald Endres, CEO
                Telephone: 605-696-7200
                Fax: 605-696-7250

     WES:       Williams Bio-Energy
                P. O. Box 10
                Pekin, IL 61555
                Attn: Ronald Miller
                Telephone: 309-347-9388
                Fax: 309-347-8541

9.   Insurance: The Parties shall maintain, at all times while this Agreement is
     in effect, and each at its own sole cost and expense, comprehensive general
     liability insurance with a combined single limit for bodily injury and
     property damage of not less than $1,000,000 for any one occurrence. Each
     party shall promptly after execution of this Agreement furnish the other
     party a Certificate of Insurance evidencing the foregoing insurance
     coverage, and containing a clause specifying that no reduction,
     cancellation or expiration of the policies shall become effective until
     thirty (30) days from the date written notice is provided to the other
     Party. The insurance requirements set forth herein are minimum coverage
     requirements and are not to be constructed in any way as a limitation on
     liability under this Agreement.

10.  Entire Agreement: This Agreement contains the entire agreement between the
     Parties and supersedes all previous agreements, either oral or written,
     between the Parties. No modifications hereof shall be valid unless made in
     writing and signed by both Parties.

11.  Waiver: The failure of either Party to enforce any of its rights hereunder
     on any particular occasion shall not constitute a waiver of such rights on
     any subsequent occasion.

12.  Assignment: This Agreement may not be assigned by either party without the
     prior written consent of the other party, which consent shall not be
     unreasonably withheld.

13.  Headings: Any paragraph headings are used for convenience only and are not
     intended and shall not be used in interpreting any provisions of this
     Agreement.

                                        5

<PAGE>

14.  No Third Party Beneficiary: Except as otherwise provided herein, nothing
     contained in this Agreement shall be considered or construed as conferring
     any right or benefit on a person not a party to this Agreement and neither
     this Agreement nor the performance hereunder shall be deemed to have
     created a joint venture or partnership between the Parties.

15.  Governing Law: This Agreement shall be governed by the laws of the State of
     Illinois, without regard to the conflict of laws provisions thereof.

     In WITNESS WHEREOF, the Parties hereto have caused this Agreement to be
     duly executed as of the date first written above.

WILLIAMS BIO-ENERGY                     VERASUN ENERGY CORPORATION

By: /s/ Ronald H. Miller                By: /s/ Donald Endres
    ---------------------------------       ------------------------------------
    Ronald H. Miller, President             Donald Endres, CEO

Date: 10/11/02                          Date: 10/15/02

                                        6

<PAGE>

                                   EXHIBIT "A"

1.   Commercial Objective: To the extent commercially feasible as determined in
     AREI's good faith judgment in accordance with the provisions of this
     Exhibit "A", AREI will not disadvantage the Pooled Net Price to be paid
     VERASUN under the Agreement, as a result of its Purchase/Resale Program.

2.   Defined Terms

     "Alliance Partners" - shall mean the group of ethanol producers that have
     agreed to exclusively commit substantially all of their ethanol production
     to AREI for purposes of AREI marketing their ethanol.

     "Purchase/Resale Program" - shall mean the program administrated by AREI,
     independent of VERASUN or other Alliance Partners, whereby AREI purchases
     ethanol from non-Alliance Partners for the purpose of selling to customers,
     independent of the Pooled Market Alliance Volume.

     "Contract Segment" - shall mean the type of ethanol contract used in
     selling ethanol. Contracts are segmented into the following categories:

          Fixed Contracts - whereby a buyer agrees to purchase a volume of
          ethanol from AREI at a particular time, over a period of time, for a
          fixed price;

          Spot - whereby a buyer agrees to buy a volume of ethanol from AREI at
          a specific time, or over a period of time, for a price that varies
          over the term of the contract and is based on a mutually agreed upon
          market index;

          Gas Plus - whereby a buyer agrees to buy a volume of ethanol from AREI
          at a particular time, or over a period of time, for a price that is
          determined by the sum of: a gasoline market index (e.g. NYMEX, CARB),
          plus a fixed amount. The gas plus segment is further segmented by the
          gasoline market index used in determining the price.

3.   Business Rules

     The following describes the business rules AREI will follow and the
     methodology AREI will employ to measure its performance against the
     commercial objective set forth above with contracts beginning effective
     October 1, 2003.

     A.   To the extent commercially feasible, AREI will attempt to maintain its
          total mix of Alliance Partner sales contracts, as follows:

<TABLE>
<CAPTION>
                          Target % of
                         Total Gallons
Contract Segment   Low        Sold       High
----------------   ---   -------------   ----
<S>                <C>   <C>             <C>
Fixed Price        20%        33%         45%
Gas Plus           20%        33%         45%
Spot               20%        33%         45%
</TABLE>

<PAGE>

     B.   Prior to entering into a contract for the sale of ethanol of a
          Contract Segment type specified in 3.A. above originating from the
          Purchase/Resale Program (a "New Resale Contract") AREI will compare
          the average netback price (on a cents per gallon basis) being realized
          from the sale of that portion of the Pooled Market Alliance Volumes
          being sold under then existing contracts of the same Contract Segment
          (with such average netback price to be calculated on the same basis as
          the Net Pooled Price, except limited to the specific Contract Segment
          type at issue) (herein the "Alliance Contract Segment Net Pooled
          Price") against the average net back price (on a cents per gallon
          basis before purchase/resale margin) being realized from the sale of
          that portion of the quantities of ethanol being purchased under the
          Purchase/Resale Program and being sold under then existing contracts
          of the same Contract Segment under the Purchase/Resale Program (with
          such average netback price to be calculated on a basis similar to that
          used in calculating the Net Pooled Price except using Purchase/Resale
          Program volumes rather than Pooled Market Alliance Volumes). Where a
          New Resale Contract will be a Gas Plus Contract Segment type, only
          contracts having the same gasoline index will be used in making the
          above comparison. Whenever possible and to the extent commercially
          feasible, AREI will only enter into a New Resale Contract of a
          particular Contract Segment type when the then existing
          Purchase/Resale Contract Segment Net Pooled Price before
          purchase/resale margin (after including such New Resale Contract) will
          be less than or equal to the then existing Alliance Contract Segment
          Net Pooled Price, both as determined on the basis of then existing
          contracts of the same Contract Segment type.

     C.   AREI may still enter into Purchase/Resale Program contracts for good
          commercial reasons.

4.   Reporting

     AREI will monitor the activities set forth in 3. above and report monthly
     by Contract Segment to VERASUN on:

     -    Alliance Ethanol Average Market Price

     -    Breakdown of Pooled Costs

     -    Pooled Net Price

     -    Pooled Market Alliance Volumes

     -    Average Purchase/Resale Market Price

     -    Breakdown of Purchase/Resale Costs

     -    Average Purchase/Resale Net Price Before Margin

     -    Purchase/Resale Volume

     -    Differences by Contract Segment of Alliance Ethanol Average Market
          Price and Pooled Net Price compared to Average Purchase/Resale Market
          Price and Average Purchase/Resale Net Price

5.   Revisions

     - AREI shall have the right to amend or eliminate this Exhibit "A" (a
     "Contract Change") subject to the following:

     A.   Any such Contract Change shall require VERASUN's written consent, with
          such consent not to be unreasonably withheld. For purposes of the
          foregoing, VERASUN shall not withhold its consent to any amendment to
          this Exhibit "A" as long as such amendment will not have, in VERASUN's
          reasonable judgment, an adverse economic effect on VERASUN under the
          Agreement.

     B.   VERASUN shall have thirty (30) days from receipt of AREI's written
          notice of a proposed Contract Change to notify AREI in writing of
          whether or not VERASUN consents to such Contract Change. If VERASUN
          notifies AREI in writing within such thirty (30) day period of its

<PAGE>

          consent to such Contract Change or fails to provide written notice to
          AREI within such thirty (30) day period of its non-consent to such
          Contract Change then such Contract Change shall be effective as of the
          date set forth in AREI's written notice; provided, however, if such
          Contract Change will not have an adverse economic effect on VERASUN
          under the Agreement it shall also be effective as of the date set
          forth in AREI's written notice, whether or not such consent is given
          by VERASUN.

     C.   Subject to B. above, if VERASUN provides written notice of its
          non-consent to the Contract Change within thirty (30) days of its
          receipt of AREI's written notice of such Contract Change, then the
          Contract Change shall not be effective.

<PAGE>

                         AVENTINE RENEWABLE ENERGY INC.

                              1300 South 2nd Street
                              Pekin, Illinois 61554
                                  309.347.9200
                               www.aventinerei.com

Ronald H. Miller
President & CEO
309.347.9388
309.347.8541 fax
ron.miller@aventinerei.com

                                December 8, 2003

VeraSun Energy Corporation
100 22nd Avenue
Suite # 103
Brookings, SD 57006

Attn: Don Endres, CEO

Re: Amendment of Ethanol Marketing Agreement

Dear Don:

     AREI and VeraSun Energy Corporation ("VERASUN") hereby amend that Ethanol
Marketing Agreement dated on or about October 14, 2002 (the "Agreement") in
order to modify the method of calculating the price paid by AREI to VERASUN for
VeraSun's fuel grade ethanol produced at VeraSun's Aurora, SD facility
("Ethanol"). Subsections 2(C) is added and subsections 5 (A), (B), (C), (D),
(E), (G), (H) and (I) of the Agreement are deleted and replaced with the
following language:

     2.C. Ethanol produced at the Plant and marketed by VERASUN, directly or
     indirectly, to the E-85 fuel market is excluded from this Agreement.

     5.A. Sales Price. The sale price VERASUN shall receive for its Ethanol
     shall be the Pooled Net Price, as defined below.

          "Pooled Net Price" shall mean the net sales price per gallon
     calculated by subtracting the Pooled Costs on a per gallon basis from the
     Alliance Ethanol Average Market Price.

          "Alliance Ethanol Average Market Price" shall mean the monthly average
     price received by AREI for Pooled Market Alliance Volumes sold during such
     month on a per gallon basis.

qc:  Lisa Ferraro
     Omer Sagheer
     Keith Bruinsma
     Bill Honnef

<PAGE>

          "Pooled Market Alliance Volumes" shall mean, with respect to any given
     period, aggregate fuel grade ethanol volumes purchased by AREI from all
     sellers who have agreed to receive the Pooled Net Price and aggregate fuel
     grade ethanol volumes produced by AREI during such period.

          "Pooled Costs" shall mean, with respect to any given period, all
     direct costs incurred by AREI in handling Pooled Market Alliance Volumes
     during such period, including by not limited to terminal lease charges,
     throughput charges, terminal shrinkage costs, freight charges, tariffs,
     costs of leasing railcars and trucks, government taxes and assessments,
     insurance, inspection fees, inventory carrying costs, purchased ethanol
     cost incurred due to lost production and other such costs, but excluding
     direct costs incurred in marketing such ethanol. AREI shall use
     commercially reasonable efforts to contain Pooled Costs so as to maximize
     the ultimate net price payable to VERASUN for its Ethanol.

     5.B. Commission. AREI shall deduct from the Pooled Net Price a commission
     equal to (**) percent (**) of the Pooled Net Price. The total commission
     shall not exceed (**) for the first (**) gallons produced on an annual
     basis. If the annual production exceeds (**) gallons, VERASUN agrees to pay
     (**) percent (**) for all ethanol sold over (**) gallons per year.

     5.C. Payment. For all quantities of ethanol purchased by AREI from VERASUN
     during a one-week period beginning on Monday and ending on the following
     Sunday, AREI shall pay the estimated Pooled Net Price referred to in
     Section 5.A. less commissions referred to in Section 5.B., to VERASUN by
     ACH or wire no later than ten (10) business days following the end of said
     one-week period. If at calendar month's end, the actual Pooled Net Price
     exceeds the estimated Pooled Net Price, AREI shall pay VERASUN on or before
     the 15th day of the following calendar month an amount equal to the product
     of (x) the difference between the actual and estimated Pooled Net Price
     less commissions and (y) the aggregate quantity of Ethanol purchased during
     the prior calendar month. If the actual Pooled Net Price is less than the
     estimated Pooled Net Price, AREI shall withhold and set off from future
     payments to VERASUN an amount equal to the product of (x) the difference
     between the actual and estimated Pooled Net Price less commissions and (y)
     the aggregate quantity of Ethanol purchased during such month. AREI shall
     pay interest on any delinquent payments at the rate of nine percent (9 %)
     per annum, for the duration of the delinquency. In addition, AREI shall
     reimburse VERASUN for any attorney fees or other cost incurred by VERASUN
     in collecting delinquent amounts owed by AREI hereunder. AREI is considered
     in breach of this Agreement if the delinquency period extends beyond thirty
     (30) days.

     5.D Intentionally Omitted.

     5.E Intentionally Omitted

     5.G Intentionally Omitted

1) This confidential information has been omitted pursuant to a request for
   confidential treatment.

2) The material has been filed separately with the SEC.
<PAGE>

     5.H. Intentionally Omitted

     5.I. Supporting Records. AREI shall keep a set of accurate and complete
     books and records in accordance with generally accepting accounting
     principles with respect to all ethanol purchased and sold by AREI,
     including ethanol sold under AREI's Purchase and Resale business, and all
     costs and commissions associated therewith, and shall make such books and
     records reasonably available to mutually agreeable independent outside
     accounting representatives at AREI's office at any time by appointment
     during normal business hours upon at least five (5) business days prior
     written notice; provided, however, there shall be no more than two such
     review of AREI's books and records in any twelve (12) month period and
     prior to such review the independent outside accounting representatives
     shall execute a mutually agreeable confidentiality agreement with AREI.
     AREI agrees to pay fifty percent (50%) of the expenses of such independent
     outside accounting representatives in conducting such review, provided that
     AREI's share of such expenses shall not exceed $15,000. All other costs and
     expenses of such review are the sole responsibility of VeraSun. In
     addition, AREI shall provide VERASUN, by e-mail or fax, a monthly report
     regarding Pooled Market Alliance Volumes, Alliance Ethanol Average Market
     Price, and a breakdown of Pooled Costs in sufficient detail to arrive at
     calculated Pooled Net Price.

In addition to the foregoing, set forth on Exhibit "A" attached hereto and
incorporated herein by reference, are the business rules and related obligations
AREI agrees to follow in managing its Purchase/Resale Program (as defined in
Exhibit "A") in conjunction with the Agreement.

Except as provided above, all other terms of Agreement shall remain unaltered
and in full force and effect.

     Please indicate your agreement with the modifications to the Agreement set
forth in this letter amendment by an authorized signature for VERASUN below.

                                        Sincerely,

                                        /s/ Ronald H. Miller
                                        ----------------------------------------
                                        Ronald H. Miller
                                        Aventine Renewable Energy, Inc.

ACCEPTED AND AGREED this 8th day of
December 2003.

VERASUN Energy Corporation

By: /s/ Donald L. Endres
    ---------------------------------
Name: Donald L. Endres
Title: CEO

<PAGE>

                                February 22, 2005

VeraSun Energy Corporation
1 VeraSun Place
Aurora, South Dakota 57002

Attention: Bruce Jamerson, President & CFO

     RE: Amendment of Ethanol Marketing Agreement

Dear Don:

     Aventine Renewable Energy, Inc. ("AREI") and VeraSun Energy Corporation
("VERASUN") are parties to that certain Ethanol Marketing Agreement dated
October 14, 2002, as amended by that certain letter amendment dated December 8,
2003 (the "Agreement"). AREI and VERASUN have discussed certain amendments to
the Agreement as hereinafter set forth. This letter agreement is intended to
memorialize such discussions.

     Accordingly, for and in consideration of the mutual covenants contained
herein, AREI and VERASUN hereby agree as follows:

     1. Subsection 1.A. of the Agreement is deleted in its entirety and the
following new subsection 1.A. is inserted in lieu thereof:

          "1.A. The term of this Agreement shall commence on the first day of
          ethanol sales and continue for a primary term ending on March 31, 2007
          and thereafter, renewing for consecutive two (2) year terms, unless
          terminated by either party at the end of the primary term or any
          subsequent two (2) year anniversary thereof with at least six (6)
          months prior written notice."

     2. Subsection 5.B. Commission of the Agreement is deleted in its entirety
and the following new subsection 5.B. is inserted in lieu thereof:

          "5.B. Commission. AREI shall deduct from the Pooled Net Price a
     commission equal to (**) percent (**) of the Pooled Net Price. The total
     commission shall not exceed (**) for the first (**) gallons of ethanol
     produced and sold to AREI during each twelve (12) calendar month period
     commencing on December 1st of each calendar year (the "12 Month Period")
     under this Agreement and under that certain Ethanol Marketing Agreement
     between AREI and VeraSun Fort Dodge, LLC, dated February 21, 2005 (the
     "Other Agreement"). If the total gallons of ethanol produced and sold to
     AREI during any 12 Month Period under this Agreement

1) This confidential information has been omitted pursuant to a request for
   confidential treatment.

2) The material has been filed separately with the SEC.
<PAGE>
     and the Other Agreement exceeds (**) gallons, the commission of (**)
     percent (**) shall be reduced to (**) percent (**) for all gallons of
     ethanol in excess of (**) gallons produced and sold to AREI during such 12
     Month Period under this Agreement and the Other Agreement."

     3. Subsection 5.D. of the Agreement which currently states "Intentionally
Omitted" is deleted in its entirety and the following new subsection 5.D. is
inserted in lieu thereof:

          "5.D. Quarterly Meetings. VERASUN and AREI agree to hold quarterly
     meetings (by telephone or in person) to formulate a market outlook and
     perspective for the purpose of establishing pricing parameters and sales
     strategy for a given period (the "Guidelines"). For any period to which
     such Guidelines are agreed upon and apply, AREI agrees to use its
     commercially reasonable efforts to execute deals consistent with these
     guidelines and when possible AREI will solicit feedback from VERASUN before
     executing deals outside such Guidelines. AREI will, to the extent it deems
     it necessary or appropriate, utilize VERASUN to participate on customers
     calls."

     4. Subsection 3.A. the chart in Exhibit "A" is deleted in its entirety and
the following new chart in subsection 3.A. is inserted in lieu thereof:

<TABLE>
<CAPTION>
                          Target % of
                         Total Gallons
Contract Segment   Low        Sold       High
----------------   ---   -------------   ----
<S>                <C>   <C>             <C>
Fixed Price        20%        33%         55%
Gas Plus           20%        33%         45%
Spot               20%        33%         45%
</TABLE>

     5. Except as provided above, all other terms of the Agreement shall remain
unaltered and in full force and effect.

     Please indicate your agreement with the modifications to the Agreement set
forth in this letter amendment by an authorized signature for VERASUN in the
space provided below.

                                        Sincerely,

                                        By: /s/ Ronald H. Miller
                                            ------------------------------------
                                            Ronald H. Miller, President & CEO

VeraSun Energy Corporation

By: /s/ Bruce A. Jamerson
    ------------------------------------
    Bruce A. Jamerson, President & CFO

Accepted and Agreed to
this 11th day of March, 2005

1) This confidential information has been omitted pursuant to a request for
   confidential treatment.

2) The material has been filed separately with the SEC.

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