Document:

Waiver, dated as of May 9, 2012

 Exhibit 4.2 
 WAIVER 
 This WAIVER (this “Waiver”), dated as of
May 9, 2012, is entered into by and between Agman Louisiana Inc. (f/k/a Westway Holdings Corporation), a Delaware corporation (the “Preferred Stockholder”) and Westway Group, Inc., a Delaware corporation (the
“Company”). Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Amended and Restated Certificate of Incorporation (as defined below). 

RECITALS 
 WHEREAS, the Preferred Stockholder is the holder of 33,135,512 shares of the Company’s Series A Perpetual Convertible Preferred Stock, par value $0.0001 per share (the “Preferred
Stock”), 13,068,567 shares of which are held in escrow pursuant to the Stock Escrow Agreement (the “Escrowed Shares”); 
 WHEREAS, the terms and conditions of the Preferred Stock and certain rights of the holders of the Preferred Stock are set forth in the Amended and Restated Certificate of Incorporation of the Company (the
“Amended and Restated Certificate of Incorporation”); 
 WHEREAS, certain approval rights of the Preferred
Stockholder are set forth in the Stockholder’s Agreement dated as of May 28, 2009, by and between the Preferred Stockholder and the Company (the “Stockholder’s Agreement”); 

WHEREAS, the Company intends to declare a $0.04 per share quarterly dividend on its common stock to all common shareholders and holders
of participating preferred stock as of May 23, 2012, payable on or about July 23, 2012, in cash or shares of the Company’s common stock at the election of the stockholder, subject to a maximum cash payment by the Company of $1,300,000
(the “Proposed Dividend”); and 
 WHEREAS, in connection with the foregoing, the Company has requested from the
Preferred Stockholder a limited waiver of its compliance with the negative covenants set forth in the Amended and Restated Certificate of Incorporation and its approval of the Proposed Dividend pursuant to the Stockholder’s Agreement.

 NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows: 
 AGREEMENT 
 1. Limited Waiver. Solely in connection with the Proposed Dividend and the transactions contemplated in connection therewith, the Preferred Stockholder hereby waives the Company’s compliance
with the negative covenants set forth in the Amended and Restated Certificate of Incorporation, including without limitation those set forth in Section 4.3.1.3.6.2.(B) and consents to and approves the declaration and payment of the
Proposed Dividend, pursuant to any right it may have pursuant to the Amended and Restated Certificate of Incorporation, the Stockholder’s Agreement or otherwise. 

 2. Issuance of Preferred Stock. 

(a) In consideration for the granting of the limited waiver by the Preferred Stockholder pursuant to Section 1
above and in lieu of payment of any and all outstanding accrued but unpaid Base Dividends through June 30, 2012, the Company hereby agrees to issue to the Preferred Stockholder promptly following July 5, 2012, but effective as of
July 1, 2012, a number of shares of Preferred Stock (the “Additional Preferred Stock”) equal to the quotient of $1,139,861.61 divided by the VWAP Price (defined below), rounded up to the next whole share. The “VWAP
Price” means the volume weighted average price of the Company’s Class A Common Stock traded on NASDAQ during the period from June 21, 2012 through July 5, 2012. The Additional Preferred Stock includes the Additional Escrow
Shares which may be issued or deemed issued under Section 3 below. 
 (b) The shares of Additional
Preferred Stock shall have the same terms and conditions as the shares of Preferred Stock outstanding on the date hereof and shall accrue the Base Dividend from and including the respective issuance date for such shares of Additional Preferred Stock
until May 28, 2016, the seventh anniversary of the Closing. 
 (c) The Preferred Stockholder hereby agrees
that the issuance by the Company of the shares of Additional Preferred Stock pursuant to this Waiver satisfies the Company’s obligation to pay any Base Dividend (in cash or otherwise) accruing on or before June 30, 2012, with respect to
the Preferred Stock. 
 3. Escrowed Shares. Of the Additional Preferred Stock to be issued pursuant to Section 2(a)
above, a number of share of Preferred Stock equal to the quotient of $449,558.70 divided by the VWAP Price, rounded up to the next whole share (the “Additional Escrow Shares”), will be issued into escrow pursuant to the Stock Escrow
Agreement and not directly to the Preferred Shareholder. If the Company cannot so issue shares of Additional Preferred Stock, then the issuance of Additional Preferred Stock in Section 2 above will be adjusted accordingly, but to
preserve the economic benefit to the Preferred Stockholder of the arrangements set forth herein, upon the release of the Escrowed Shares from escrow, in whole or in part, the Company shall be deemed to have issued Additional Escrow Shares on
July 1, 2012. Any Additional Escrow Shares deemed issued with respect to the Escrowed Shares shall accrue the Base Dividend (and any other dividends or distributions with respect to the Preferred Stock) from and including the deemed issuance
date for such shares until May 28, 2016, the seventh anniversary of the Closing. The shares of Additional Preferred Stock issued or deemed issued pursuant to Sections 2 and 3 hereof shall have identical rights to the shares of
Preferred Stock already in issue. 
 4. Ratification of Amended and Restated Certificate of Incorporation. Except as
herein specifically agreed, the Amended and Restated Certificate of Incorporation is hereby ratified and confirmed and shall remain in full force and effect according to its terms. Each of the Company and the Preferred Stockholder acknowledge and
consent to the waivers set forth herein and agrees that, except as expressly provided herein, this Waiver does not impair, reduce or limit any of its obligations under the Amended and Restated Certificate of Incorporation. 

  
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 5. Authority/Enforceability. Each of the Company and the Preferred Stockholder
represents and warrants as follows: 
 (a) It has taken all necessary action to authorize the execution, delivery
and performance of this Waiver. 
 (b) This Waiver has been duly executed and delivered by such person and
constitutes such person’s legal, valid and binding obligation, enforceable in accordance with its terms, except as such enforceability may be subject to (i) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer,
moratorium or similar laws affecting creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity). 

(c) No consent, approval, authorization or order of, or registration or qualification with, any court or governmental
authority or third party is required in connection with the execution, delivery or performance by such person of this Waiver. 
 (d) The execution and delivery of this Waiver does not (i) violate, contravene or conflict with any provision of its organizational documents, or (ii) violate, contravene or conflict with any
other law, regulation, order, writ, judgment, injunction or decree applicable to it. 
 6. Counterparts/Telecopy. This
Waiver may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. Delivery of executed counterparts of this Waiver by telecopy or
pdf shall be effective as an original and shall constitute a representation that an original shall be delivered promptly upon request. 
 7. GOVERNING LAW. THIS WAIVER AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE. 

IN WITNESS WHEREOF, the parties hereto have caused this Waiver to be duly executed as of the date first above written. 

 

					
	 AGMAN LOUISIANA INC.
       a Delaware corporation

		
	By: 	 	/s/ Arthur W. Huguley, IV
		 	Name:	 	Arthur W. Huguley, IV
		 	Title:	 	President

  
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	 WESTWAY GROUP INC.
       a Delaware corporation

		
	By: 	 	/s/ Thomas A. Masilla, Jr.
		 	Name:	 	Thomas A. Masilla, Jr.
		 	Title:	 	CFO

  
 - 4 -Retention Agreement, dated January 12, 2012

 Exhibit 10.1 
 RETENTION AGREEMENT 
 This Retention Agreement (the “Agreement”)
dated and effective as of January 12 , 2012 (the “Effective Date”) is entered into by and between Westway Terminal Company LLC, a Delaware limited liability company with headquarters in New Orleans, Louisiana (the
“Company”), and Eugene McClain (“Employee”). 
 WHEREAS, the Company employs the Employee in the position of
President; and, 
 WHEREAS, it is understood that the Employee is employed by the Company on an “at will” basis, and
as such can be terminated by the Company with or without cause; and, 
 WHEREAS, the Company wishes to provide an inducement for
the Employee to remain with the Company in the event of a Change in Control (as defined hereafter); and, 
 WHEREAS, the Company
and the Employee wish to memorialize the terms of the Company’s retention promises to the Employee in writing. 

THEREFORE, in consideration of the foregoing and the mutual provisions contained herein, and for other good and valuable consideration,
the parties hereto agree with each other as follows: 
  

	1.	Term of Agreement 

  

	 	(a)	The term of this Agreement (the “Term”) shall commence on the Effective Date and expire on the first anniversary of the Effective Date, unless extended in
writing by the Company. 

  

	 	(b)	This Agreement cannot be modified or terminated (except as expressly provided herein) without the mutual consent of the Company and the Employee;

  

	 	(c)	Following the expiration of the Term, this Agreement will terminate and the Company will have no further obligations to the Employee under this Agreement.

  

	2.	Compensation and Benefits 

  

	 	(a)	Base Salary. 

Employee’s current base salary is $225,000 per annum. The term “Base Salary” as utilized in the Agreement shall refer to
the Employee’s base salary in effect as of the Effective Date, as the same may be increased by the Company from time to time. Except as may otherwise be provided in this Agreement, any obligation to pay Employee’s Base Salary will cease
upon termination of the Employee’s employment. 
  

	 	(b)	ADA, FMLA and Age Discrimination Laws. 

 This Agreement is subject to the Americans with Disabilities Act (“ADA”), the Family and Medical Leave Act (“FMLA”) and all Age Discrimination Laws of the United States. 

 

	3.	Definitions 

  

	 	(a)	“Cause” shall mean for the purposes of this Agreement the commission of acts of gross negligence, fraud, theft, or misappropriation against the Company or the
conviction of a felony under the law. 

  

	 	(b)	“Without Cause” shall mean the absence of Cause. 

  

	 	(c)	 “Change in Control” means (i) any person or “group” (as defined in Section 13(d)(3) of the 1934 Act), other than Westway
Group, Inc., ED&F Man Holdings Limited, and/or their subsidiaries, acquiring (whether by stock purchase, asset purchase, merger or otherwise) fifty percent (50%) or more of the voting power of the Company’s then outstanding voting
interests; or (ii) the sale or 

	 	
other disposition of all or substantially all of the assets of the Company to any person other than Westway Group, Inc., ED&F Man Holdings Limited, and/or their subsidiaries; or
(iii) approval by the member or members of the Company of a complete liquidation or dissolution of the Company. 

  

	 	(d)	“Constructive Termination” for purposes of this Agreement shall mean (1) a reduction in Base Salary or Benefits; (2) any requirement that the
Employee’s services be rendered primarily at a location or locations more than twenty miles from the location where the employee currently renders their services; (3) a material diminution by the Company of the Employee’s roles and
responsibilities as President of the Company; (4) any material breach of this Agreement or the spirit of this Agreement by the Company. 

  

	 	(e)	“Disabled” and “Disability”, as used herein, shall mean Employee’s inability to perform the essential duties and responsibilities of
Employee’s job with reasonable accommodation, for a continuous period of 90 days or more, or for 120 days or more in a 12 month period, due to a physical or mental condition. 

 

	4.	Payment on Change in Control 

 If a Change in Control occurs, Employee shall receive a retention bonus equal to two hundred twenty-five thousand dollars ($225,000) (the “Retention Bonus”), subject to continued employment with
the Company or its successor as hereinafter provided. The Retention Bonus will be paid in two (2) equal installments: (i) the first Retention Bonus installment simultaneously with the closing of the transaction by which the Change in
Control occurs; and (ii) the second Retention Bonus installment on the six (6) month anniversary of the closing of the transaction by which the Change in Control occurs. 

In order to receive each Retention Bonus installment, (a) Employee must either be employed by Company or its successor at the time
such installment is due or otherwise qualify to receive such installment pursuant to Sections 6, 7, or 8 hereof; and (b) Employee will be required to sign and deliver a Settlement Agreement and Release of the Company (a “Release”).
Each Retention Bonus installment shall be paid to Employee within 10 business days following the expiration of the revocation period applicable to the Release consistent with applicable state and Federal law. For the avoidance of doubt, Company will
not be obligated to pay more than one full Retention Bonus to the Employee, even if more than one Change in Control occurs. 
  

	5.	Termination for Cause/Resignation by Employee. 

 The Company may terminate Employee’s employment for Cause, and the Employee may resign from employment from the Company for any reason or no reason at all. Upon the Company’s termination of the
Employee for Cause or the Employee’s resignation (other than the Employee’s death or Disability), Employee shall be entitled to receive only that portion of Employee’s Base Salary earned, but unpaid, as of the date of termination,
payable in accordance with applicable state and Federal laws but in no event later than 30 days after Employee’s date of termination. The Employee will also receive all vested benefits, including 401k and previously deferred compensation, if
any. Notwithstanding any provision to the contrary, if the Employee’s employment is terminated by the Company for Cause or the Employee resigns from the Company (other than the Employee’s death or Disability) prior to the date of payment
of any Retention Bonus installment, such installment will be forfeited by Employee and shall not be payable by the Company. 
  

	6.	Termination of Employment Without Cause. 

 The Company may terminate Employee’s employment Without Cause. If the Company terminates the Employee’s employment Without Cause within the six-month period preceding a Change in Control or at
any time following the occurrence of a Change in Control but prior to the payment of the last Retention Bonus installment, Employee shall be entitled to receive the following: 

 

	 	(a)	that portion of Employee’s Base Salary earned, but unpaid as of the date of termination, paid in accordance with applicable state and Federal laws but in no event
later than 30 days of the date of the Employee’s termination; 

  
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	 	(b)	with the exception of any bonus awarded pursuant to the Westway Group, Inc. 2010 Incentive Compensation Plan, any annual bonus awarded by the Company and earned by the
Employee for a prior completed calendar year to the extent not therefore paid and not theretofore deferred (with any such deferred amounts to be paid in accordance with and at the times set forth in the applicable deferral arrangement) paid at the
same time as all other Company annual bonuses are paid for the prior completed year, but in no event later than March 15 of the calendar year following the year in which the Employee’s employment terminates; 

 

	 	(c)	any outstanding bonus awarded pursuant to the Westway Group, Inc. 2010 Incentive Compensation Plan, paid and/or vesting subject to and in accordance with the applicable
award agreement and the Westway Group, Inc. 2010 Incentive Compensation Plan; and 

  

	 	(d)	to the extent not previously paid, the Retention Bonus with respect to the Change in Control paid in one installment to the Employee on the later of (i) the
occurrence of the Change in Control or (ii) the Employee’s termination Without Cause. 

 In order to
receive any unpaid Retention Bonus installments as provided above, Employee will be required to first sign and deliver to the Company a Release. 
  

	7.	Constructive Termination. 

For purposes of this Agreement, a Constructive Termination shall constitute termination of the Employee Without Cause, subject to the
provisions of this Section 7. In order to confect a claim by the Employee of constructive termination, the Employee must provide written notice to the Company of the existence of the conditions giving rise to such a situation including
evidential matter supporting the Employee’s allegation. The Company shall have 30 business days following receipt of such notice (the “Cure Period”) during which it may remedy the condition. In the event that the Company fails to
remedy the condition constituting the Constructive Termination during the Cure Period, Employee must deliver notice to the Company that the condition has not been remedied which, for purposes of this Agreement, will constitute termination Without
Cause. 
  

	8.	Death or Disability. 

 The
Employee’s employment shall be automatically terminated upon Employee’s death. If Employee becomes “Disabled”, the Company may terminate this Agreement after giving Employee 30 business days written notice of its intention to do
so unless Employee returns to full-time performance of Employee’s duties within such 30 business day notice period. Disputes on issues of Disability shall be determined by an impartial, reputable physician agreed upon by the parties or their
respective doctors. Upon the Employee’s termination due to death or Disability occurring prior to a Change in Control, any and all rights to a Retention Bonus will be forfeited by Employee and no Retention Bonus will be payable by the Company.
Following the Employee’s termination due to death or Disability occurring following a Change in Control, the Employee or Employee’s estate shall be entitled to receive any and all payments and/or benefits pursuant to Section 4 hereof,
including any applicable unpaid Retention Bonus installments, subject in the case of a Disability to the execution and delivery to the Company of a Release. 
  

	9.	Tax Matters. 

  

	 	(a)	The Company or any of its applicable subsidiaries shall withhold from any amounts payable or provided under this Agreement such federal, state or local taxes as shall
be required to be withheld under any applicable law or regulation and other required or applicable deductions. 

  

	 	(b)	 If and to the extent any portion of any payment, compensation or other benefit provided to Employee in connection with Employee’s separation from
service (as defined in IRC Section 409A) is determined to constitute “nonqualified deferred compensation” within the meaning of IRC Section 409A and Employee is a specified employee as defined in IRC
Section 409A(a)(2)(B)(i), as determined by the Company or any of its applicable affiliates in accordance with its procedures, by which determination Employee hereby agrees that Employee is bound, such portion of the payment, compensation or
other benefit shall not be paid before the day that is six months plus one day after the date of separation from service (as determined under IRC 

  
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Section 409A) (the “New Payment Date”), except as IRC Section 409A may then permit. The aggregate of any payments that otherwise would have been paid to Employee during the
period between the date of separation from service and the New Payment Date (the “Postponement Period”) shall be paid to Employee in a lump sum on such New Payment Date, and any remaining payments will be paid on their original schedule.

  

	 	(c)	If Employee dies during the Postponement Period, the amounts and entitlements delayed on account of IRC Section 409A of the Code shall be paid to the personal
representative of Employee’s estate on the first to occur of the New Payment Date and thirty (30) days after the date of Employee’s death. 

  

	 	(d)	For purposes of this Agreement, each amount to be paid or benefit to be provided shall be construed as a separate payment for purposes of IRC Section 409A, and any
payments that are due within the “short term deferral period” as defined in IRC Section 409A shall not be treated as deferred compensation unless applicable law requires otherwise. Neither the Company nor any of its applicable
affiliates nor Employee shall have the right to accelerate or defer the delivery of any such payments or benefits except to the extent specifically permitted or required by IRC Section 409A. 

 

	 	(e)	This Agreement is intended to comply with the provisions of IRC Section 409A and shall, to the extent practicable, be construed in accordance therewith.

  

	 	(f)	Employment Periods defined in this Agreement shall have the meanings given such terms under IRC Section 409A if and to the extent required to comply with IRC
Section 409A. In any event, neither the Company nor any of its affiliates makes any representations or warranty and shall have no liability to Employee or any other person if any provisions of or payments under this Agreement are determined to
constitute deferred compensation subject to IRC Section 409A but not to satisfy the conditions of IRC Section 409A. 

  

	10.	If Employee’s employment ends for any reason, Employee agrees that Employee will immediately resign from any and all officer and director positions that Employee
then has with the Company or any subsidiary or affiliate upon request of the Company. 

  

	11.	While employed and for a period of two years following the date of termination of Employee’s employment for any reason, Employee shall not solicit or induce, or
cause any other person to solicit or induce, any employee of the Company or any of its subsidiaries to leave the Company or any of its subsidiaries or in any way to modify his or her relationship with the Company. 

 

	12.	While employed and for a period of ten years following the date of termination of Employee’s employment for any reason, Employee shall not directly or indirectly
disclose or furnish to any entity, firm, corporation or person, except as otherwise required by law or in the direct performance of the Employee’s duties for or to the Company, any confidential or proprietary non-public information of the
Company. 

  

	13.	Employee agrees that upon termination of Employee’s employment, Employee shall provide to the Company all documents, papers, files (including electronic files) or
other material in Employee’s possession or under Employee’s control that are connected with or derived from the Employee’s services to the Company or that belong to the Company. 

 

	14.	Mediation 

 The parties
shall first try in good faith to settle by mediation any dispute arising out of or relating to this Agreement or its breach. The mediation is to be administered by the American Arbitration Association (“AAA”). The mediation shall be held
in the City of New Orleans. All expenses associated with the mediation shall be the responsibility of the Company. If the mediation is unsuccessful, the parties may then resort to litigation or any other mutually agreeable dispute resolution
procedure. 

  
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	15.	Choice of Law; Venue. 

The laws of the State of Louisiana (without giving effect to its conflicts of law principles) govern all matters arising out of or
relating to this Agreement, including, without limitation, its validity, interpretation, construction, performance, and enforcement. Any party bringing a legal action or proceeding against any other party arising out of or relating to this Agreement
may bring the legal action or proceeding in the United States District Court for the Eastern District of Louisiana or in any court of the State of Louisiana sitting in New Orleans, Louisiana. 

 

	16.	Severability 

 Should any
provision of this Agreement be rendered or declared legally invalid or unenforceable by a court or arbitration tribunal of competent jurisdiction or by the decision of an authorized governmental agency, invalidation or unenforceability of such
provision shall not invalidate or render unenforceable any of the remaining provisions of this Agreement. 
  

	17.	The provisions of this Agreement contain the entire agreement and understanding of the parties regarding the Agreement and its provisions, and shall, as of the
Effective Date, fully supersede any and all prior agreements, representations, promises or understandings, written or oral, between them pertaining to the subject matter. The provisions of this Agreement may not be amended except in writing by the
Employee and an authorized officer appointed by the Board of Directors of the Company to sign the amendment. 

  

	18.	Any failure by either party to exercise any of its rights to enforce any of the provisions of this Agreement shall not prejudice such party’s rights with respect
to any subsequent or further violation, breach or default by the other party. A waiver of any provision of this Agreement by the parties shall not be valid or effective unless memorialized in writing and signed by both parties to this Agreement.

  

	19.	The rights and obligations of the Company under this Agreement will be transferable and will be binding upon and be enforceable by its successors and assigns; provided,
however, that no assignment or transfer of Company’s rights and/or obligations hereunder will serve to release the Company from its obligations hereunder without the written agreement of the Employee. 

IN WITNESS WHEREOF, Employee and the Company have executed this Agreement effective as of January     , 2012.

  

			
	WESTWAY TERMINAL COMPANY LLC
		
	By	 	/s/ James B. Jenkins
	Date: Jan 12, 2012 James B. Jenkins CEO

  

			
	EMPLOYEE
	
	/s/ Eugene McClain
	 Eugene McClain

Date: Jan 13, 2012

  
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