Document:

Lease Agreement

 Exhibit 10.10 
 LEASE AGREEMENT 
 THIS
LEASE AGREEMENT (the “Lease”) is entered into this 16th
day of March, 2004, between American Life Inc., and Vincent DeLuca, Tenants in Common (“Landlord”), and John Plaza, (“Tenant”). Landlord and Tenant agree as follows: 
 1. LEASE SUMMARY AND EXHIBITS. 
 1.1. LEASED PREMISES. The leased premises (“Premises”) consist of an agreed area of 7,041 square feet of warehouse/office space, and plus common areas and are outlined on the floor plan
attached as EXHIBIT A, located on the land legally described on attached EXHIBIT B, and is commonly known as 6335 1St – Avenue South, Seattle, Washington. The Premises do not include, and Landlord
reserves, the exterior walls and roof of the Premises, the land beneath the Premises or structural elements of the building in which the Premises are located (“Building”). The Building, the land upon which it is situated, all other
improvements located on such land, and all common areas appurtenant to the Building are referred to herein as the “Property.” 
 1.2. LEASE COMMENCEMENT DATE. The Lease shall commence on May 15, 2004 
 1.3. LEASE TERMINATION DATE. The Lease shall terminate at midnight on May 31, 2008, or such earlier or later date as provided in Section 3 (the “Termination Date”).

 1.4. BASE RENT. The base monthly rent shall he as follows: 
  

				
	 Months
	  	Monthly Base Rent
	 1-12
	  	$	3000
	 13-24
	  	$	3260
	 25-36
	  	$	3520
	 37-48
	  	$	3625

 Rent shall be payable at Landlord’s address shown in Section 1.8 below, or such other place designated
in all urban consumers Seattle area writing by Landlord. 
 1.5. PREPAID RENT. Upon execution of this
Lease, Tenant shall deliver to Landlord one months rent. 
 1.6. SECURITY DEPOSIT. The amount of the
security deposit is $4000. 
 1.7. PERMITTED USES. The Premises shall be used only for the refining of
vegetable oil into biodiesel fuel and for not other purpose without the prior written consent of Landlord. 
  

					
	GNW/Warehouse Lease	  	page 1	  	

 1.8. NOTICE AND PAYMENT
ADDRESSES. 
  

			
	Landlord:	  	 American Life, Inc.
 3223 Third Avenue
S.
 Seattle, WA 98134
 Fax: 206-381-3376 tel
3375

		
	Tenant:	  	 Seattle Biodiesel
 4130 S.W. Monroe
St.
 Seattle, WA 98136

 1.9. TENANT’S PRO RATA
SHARE. Landlord and Tenant agree that except for separately metered or allocated expenses Tenant’s Pro Rata Share is 12.23% for purposes of calculating utilities such as water, gas, and electricity and other services supplied
only to the 57,540 square feet outlined on Exhibit C based on the ratio of the agreed rentable area of the Premises (i.e., 7,041 square feet) to the agreed rentable area of the Building (i.e., 57,540 square feet) and all other buildings on the
Property as of the date of this Lease. Common area ratios will change as new square footage is added. 
 1.10.
EXHIBITS. 
  

			
	 EXHIBIT A
	  	Floor Plan
		
	 EXHIBIT B
	  	Legal Description of Land
		
	 EXHIBIT C
	  	Floor Plan for Tenants Area

 2. PREMISES. Landlord leases to Tenant, and Tenant leases from Landlord the Premises
“as is” and upon the terms specified in this Lease. 
 3. TERM. 
 3.1. COMMENCEMENT DATE. The Lease shall commence on the date specified in Section 1.2. The first “Lease
Year” shall commence on the Commencement Date and shall end on the date which is twelve (12) months from the end of the month in which the Commencement Date occurs. Each successive Lease Year during the initial term and any extension terms
shall be twelve (12) months, commencing on the first day following the end of the preceding Lease Year, except that the last Lease Year shall end on the Termination Date. 
 3.2. CONDITION OF PREMISES. Except as specified elsewhere in this Lease. Landlord makes no
representations or warranties to Tenant regarding the Premises, including the structural condition of the Premises or the condition of mechanical, electrical, and other systems on the Premises. By signing this Lease, Tenant acknowledges that it has
had adequate opportunity to investigate the Premises, acknowledges responsibility for making any corrections, alterations and repairs to the Premises, and acknowledges that the time needed to complete any such items shall not 

  

					
	GNW/Warehouse Lease	  	page 2	  	

 
delay the Commencement Date. Landlord shall fix the fence surrounding the property and perimeter doors, and install electrical meter if possible. 

3.3. OPTION TO RENEW. If Tenant complies with the terms and conditions of this Lease may extend this Lease for an additional five year term on
the same terms and conditions except that the base rent for the first year of the option period shall be adjusted to market rent for similar properties in the area but not less than the base rent for the fifth year of this Lease term. Tenant must
give Landlord one hundred and twenty days written notice of its intent to renew to preserve this Option to Renew. Landlord and Tenant must agree to the new base rent within thirty days of receipt of Tenants renewal notice. If Landlord and Tenant are
unable to agree on a new base rent the Lease shall not be extended. 
 4. RENT. Tenant shall pay Landlord without demand, deduction or
offset, in lawful money of the United States, the monthly rental stated in Section 1.4 in advance on or before the first day of each month during the Lease Term, and any other additional payments due to Landlord (collectively the “Rent”)
when required under this Lease. Payments for any partial month at the beginning or end of the Lease term shall be prorated. 
 If any sums
payable by Tenant to Landlord under this Lease are not received by the tenth (10th) day of each month, Tenant shall pay Landlord the cost of collecting and handling such late payment. In addition, all delinquent sums payable by Tenant to
Landlord, and not paid within ten (10) days of the Due date shall, at Landlord’s option, bear interest at the rate of twelve percent (12%) per annum, or the highest rate of interest allowable by law, whichever is less. Interest on all
delinquent amounts shall be calculated from the original due date to the date of payment. 
 Landlord’s acceptance of less than the full
amount of any payment due from Tenant shall not be deemed an accord and satisfaction or compromise of such payment unless Landlord specifically consents in writing to payment of such lesser sum as an accord and satisfaction, or compromise of the
amount which Landlord claims. 
 5. SECURITY DEPOSIT. Tenant will pay a security deposit of $4,000.00 upon execution of this lease.

 6. USES. The Premises shall be used only for the uses specified in Section 1.7 above (the “Permitted Uses”), and for no
other business or purpose without the prior written consent of Landlord. No act shall be done on or around the Premises that is unlawful or that will increase the existing rate of insurance on the Premises. Tenant shall not commit or allow to be
committed any waste upon the Premises, or any public or private nuisance. 
 7. COMPLIANCE WITH LAWS. Tenant shall not cause or permit
the Premises to be used in any way which violates any law, ordinance, or governmental regulation or order. Tenant shall be responsible for complying with all laws applicable to 

  

					
	GNW/Warehouse Lease	  	page 3	  	

 
the Premises solely as a result of Tenant’s particular use, such as modifications required by the Americans With Disabilities Act as a result of Tenant
opening the Premises to the public as a place of public accommodation. If the enactment or enforcement of any law, ordinance, regulation or code during the Lease Term requires an changes to the Premises during the Lease Term, Tenant shall perform
all such changes at its expense if the changes are required due to the nature of Tenant’s activities at the Premises, or to alterations that Tenant seeks to make to the Premises; otherwise, Landlord shall perform all such changes at its
expense. 
 8. OPERATING COSTS. 
 8.1. DEFINITION. As used herein, “Operating Costs” shall mean all costs of operating, maintaining and repairing the Premises, the Building, and the Property, determined in accordance with accounting
principles consistently applied, and including without limitation the following: all taxes and assessments (including, but not limited to, real and personal property taxes and assessments, local improvement district assessments and other special
purpose assessments, and taxes on rent or gross receipts); insurance premiums paid by Landlord and (to the extent used) deductibles; water, sewer and all other utility charges (other than utilities separately metered and paid directly by Tenant or
other tenants); refuse and trash removal; refurbishing and repainting; air conditioning, heating, ventilation and elevator service; pest control; lighting systems, fire detection and security services; landscape maintenance; parking lot, road,
sidewalk and driveway patching, resurfacing and maintenance; snow and ice removal; graffiti removal, window repair and replacement, amortization (in accordance with accounting principles consistently applied) of capital improvements as Landlord may
in the future install to comply with governmental regulations and rules or undertaken in good faith with a reasonable expectation of reducing operating costs (the useful life of which shall be a reasonable period of time as determined by Landlord);
and costs of legal services (except those incurred directly relating to a particular .occupant of the Building); accounting services; property management fee not to exceed 4-— % of base rent; labor, supplies, materials and tools. Operating
Costs shall not include: Landlord’s income tax or general corporate overhead, depreciation on the Building or equipment therein; loan payments; real estate broker’s commissions; capital improvements to or major repairs of the Building
shell (i.e., the Building structure, exterior walls and roof) not described in this paragraph; or any costs regarding the operation, maintenance and repair of the Premises, the Building, or the Property paid directly by Tenant or other tenants in
the Building. 
 8.2. ADDITIONAL RENT. As additional Rent, Tenant shall pay to Landlord on the first of
each month with payment of Tenant’s base Rent one-twelfth of Tenant’s Pro Rata Share of Operating Costs. 
 8.2.1.
Landlord shall provide to Tenant, as soon as possible following the first day of each succeeding calendar year, a good faith estimate of Tenant’s annual Pro Rata Share of Operating Costs for the then-current year; 
 8.2.2. Each estimate of Tenant’s annual Pro Rata Share of Operating Costs determined by Landlord as described above, shall be divided
into twelve 

  

					
	GNW/Warehouse Lease	  	page 4	  	

 
(12) equal monthly installments. Tenant shall pay to Landlord such monthly installment of Operating Costs with each monthly payment of base Rent. In the
event the estimated amount of Tenant’s Pro Rata Share of Operating Costs has not yet been determined for any calendar year, Tenant shall pay the monthly installment in the estimated amount determined for the preceding calendar year until the
estimate for the current calendar year has been provided to Tenant. At such time as the estimate for the current calendar year is received, Tenant shall then pay any shortfall or receive a credit for any surplus for the preceding months of the
current calendar year and shall, thereafter, make the monthly installment payment in accordance with the current estimate; and 
 8.2.3. As soon as reasonably possible following the end of each calendar year of the Lease term, Landlord shall determine and provide to Tenant a statement (the “Operating Costs Statement”) setting forth the amount
of Operating Costs actually incurred and the amount of Tenant’s Pro Rata Share of Operating Costs actually payable by Tenant with respect to such calendar year. In the event the amount of Tenant’s Pro Rata Share of Operating Costs exceeds
the sum of the monthly installments actually paid by Tenant for such calendar year, Tenant shall pay to Landlord the difference within thirty (30) days following receipt of the Operating Costs Statement. In the event the sum of such
installments exceeds the amount of Tenant’s Pro Rata Share of Operating Costs actually clue and owing, the difference shall be applied as a credit to Tenant’s future Pro Rata Share of Operating Costs payable by Tenant pursuant to this
Section, 
 9. UTILITIES. Landlord shall not be responsible for providing any utilities to the Premises, but represents and warrants
to Tenant that as of the Commencement Date that electricity, water, sewer and telephone utilities are available at or adjacent to the Premises. Tenant shall determine whether the available capacity of such utilities will meet Tenant’s needs.
Tenant shall install and connect, if necessary, and directly pay for all water, sewer, gas, janitorial, electricity, garbage removal, heat, telephone, and other utilities and services used by Tenant on the Premises during the Term, whether or not
such services are billed directly to Tenant. Tenant will also procure, or cause to be procured, without cost to Landlord, all necessary permits, licenses or other authorizations required for the lawful and proper installation, maintenance,
replacement, and removal on or from the Premises of wires, pipes, conduits, tubes, and other equipment and appliances for use in supplying all utilities or services to the Premises. Landlord, upon request of Tenant, and at the sole expense and
liability of Tenant, shall join with Tenant in any application required for obtaining or continuing such utilities or services. 
 10.
TAXES. Tenant shall pay all taxes, assessments, liens and license fees (“Taxes”) levied, assessed or imposed by any authority having the direct or indirect power to tax or assess any such liens, by reason of Tenant’s occupancy of
the Premises, and all Taxes on Tenant’s personal property located on the Premises. Landlord shall pay all Taxes with respect to the Building and the Project, including any Taxes requiting from a reassessment of the Building or the Project due
to a change of ownership or otherwise, which shall be included in Operating Costs. 
  

					
	GNW/Warehouse Lease	  	page 5	  	

 11. ALTERATIONS. Tenant may make alterations, additions or improvements to the Premises
(“Alterations”) with the prior written consent of Landlord, which consent shall not be unreasonably withheld. The term “Alterations” shall not include the installation of shelves, partitions, Tenant’s equipment and trade
fixtures which may be performed without damaging existing improvements or the structural integrity of the Premises, and Landlord’s consent shall not be required for Tenant’s installation of those items. Tenant shall complete all
Alterations at Tenant’s expense in compliance with all applicable laws and in accordance with plans and specifications approved by Landlord. Landlord shall he deemed the owner of all Alterations except for those which Landlord requires to be
removed at the end of the Lease term. Tenant shall remove all Alterations at the end of the Lease term unless Landlord conditioned its consent upon Tenant leaving a specified Alteration at the Premises, in which case Tenant shall not remove such
Alteration. Tenant shall immediately repair any damage to the Premises caused by removal of Alterations. 
 12. REPAIRS AND
MAINTENANCE. Tenant shall, at its sole expense, maintain the Premises in good condition and promptly make all repairs and replacements, whether structural or non-structural, necessary to keep the Premises in safe operating condition, including
all utilities, bathrooms and other systems serving the Premises, and glass and window damage, but excluding the roof, foundation and exterior walls, which Landlord shall maintain in good condition and repair at Landlord’s expense. Tenant shall
not disturb the structural integrity of the Premises and shall promptly repair any damage or injury done to the structural elements caused by Tenant or its employees, agents, contractors or invitees. Notwithstanding anything in this Section to the
contrary, Tenant shall not be responsible for any repairs to the Premises made necessary by the acts of Landlord or its agents, employees, contractors or invitees therein. 
 Upon expiration of the Lease term whether by lapse of time or otherwise. Tenant shall promptly and peacefully surrender the Premises, together with all
keys, to Landlord in as good condition as when received by Tenant from Landlord or as thereafter improved, reasonable wear and tear and insured casualty excepted. 
 13. ACCESS. After reasonable notice from Landlord (except in cases of emergency, where no notice is required) Tenant shall permit Landlord and its agents and employees to enter the Premises at reasonable times
for the purposes of repair or inspection. This Section shall not impose any repair or other obligation upon Landlord not expressly stated elsewhere in this Lease. After reasonable notice to Tenant, Landlord shall have the right to enter the Premises
for the purpose of showing the Premises to prospective purchasers or lenders at any time, and to prospective tenants within one hundred eighty (180) days prior to the expiration or sooner termination of the Lease term. 
 14. SIGNAGE. Tenant shall obtain Landlord’s written consent before installing any signs upon the Premises, which consent shall not be
unreasonably withheld. Tenant shall install any approved signage at Tenant’s sole expense and in compliance with all applicable laws. Tenant shall not damage or deface the Premises in installing or removing signage and shall repair any injury
or damage to the Premises caused by such installation or removal. 
  

					
	GNW/Warehouse Lease	  	page 6	  	

 15. DESTRUCTION OR CONDEMNATION. 
 15.1. DAMAGE AND REPAIR. If the Premises are partially damaged but not rendered untenantable, by fire
or other insured casualty, then Landlord shall diligently restore the Premises and this Lease shall not terminate. The Premises shall not be deemed untenantable if less than twenty-five percent (25%) of the Premises are damaged. Landlord shall
have no obligation to restore the Premises if insurance proceeds arc not available to pay the entire cost of such restoration. If insurance proceeds are available to Landlord but are not sufficient to pay the entire cost of restoring the Premises,
then Landlord may elect to terminate this Lease and keep the insurance proceeds, by notifying Tenant within sixty (60) days of the date of such casualty. 
 If the Premises are entirely destroyed, or partially damaged and rendered untenantable, by fire or other casualty, Landlord may, at its option: (a) terminate this Lease as provided herein, or (b) restore the
Premises to their previous condition. If, within sixty (60) days after receipt by Landlord from Tenant of written notice that Tenant deems the Premises untenantable, Landlord fails to notify Tenant of its election to restore the Premises, or if
Landlord is unable to restore the Premises within nine (9) months of the date of the casualty event, then Tenant may elect to terminate the Lease. 
 If Landlord restores the Premises under this Section 15.1, Landlord shall proceed with reasonable diligence to complete the work, and the base monthly rent shall be abated in the same proportion as the
untenantable portion of the Premises bears to the whole Premises, provided that there shall be a rent abatement only if the damage or destruction of the Premises did not result from, or was not contributed to directly or indirectly by the act, fault
or neglect of Tenant, or Tenant’s officers, contractors, licensees, agents, servants, employees, guests, invitees or visitors. No damages, compensation or claim shall be payable by Landlord for inconvenience, loss of business or annoyance
directly incidentally or consequentially arising from any repair or restoration of any portion of the Premises. Landlord will not carry insurance of any kind for the protection of Tenant or on Tenant’s furniture or on any fixtures, equipment,
improvements or appurtenances of Tenant under this Lease, and Landlord shall not be obligated to repair any damage thereto or replace the same unless the damage is caused by Landlord’s negligence. 
 15.2. CONDEMNATION. If the Premises are made untenantable by eminent domain or conveyed under a threat of condemnation, this Lease
shall automatically terminate as of the earlier of the date title vests in the condemning authority or the condemning authority first has possession of the Premises and all Rents and other payments shall be paid to that date. In case of taking of a
part of the Premises that does not render the Premises untenantable, then this Lease shall continue in full force and effect and the base monthly rental shall be equitably reduced based on the proportion by which the floor area of the Premises is
reduced, such reduction in Rent to be effective as of the earlier of the date the condemning authority first has possession of such portion or title vests in the condemning authority. Landlord shall be entitled to the entire award from the
condemning authority attributable to the value of the Premises and Tenant shall make no claim for the value of its leasehold. Tenant shall be permitted to make a separate claim against the condemning authority for moving expenses or damages 

  

					
	GNW/Warehouse Lease	  	page 7	  	

 
resulting from interruption in its business, provided that in no event shall Tenant’s claim reduce Landlord’s award. 
 16. INSURANCE. 
 16.1.
LIABILITY INSURANCE. During the Lease term, Tenant shall pay for and maintain commercial general liability insurance with broad form property damage and contractual liability endorsements. This policy shall name
Landlord as an additional insured, and shall insure Tenant’s activities and those of Tenant’s employees, officers, contractors, licensees, agents, servants, employees, guests, invitees or visitors with respect to the Premises against loss,
damage or liability for personal injury or death or loss or damage to property with a combined single limit of not less than $1,000,000. The insurance will be noncontributory with any liability insurance carried by Landlord. 
 16.2. TENANT INSURANCE. During the Lease term, Tenant shall pay for and maintain replacement cost fire and extended
coverage insurance, with vandalism and malicious mischief, sprinkler leakage and earthquake endorsements in an amount sufficient to cover not less than one hundred percent (100%) of the full replacement cost, as the same may exist from time to
time, of all of Tenant’s personal property, fixtures, equipment and tenant improvements. 
 16.3. MISCELLANEOUS.
Insurance required under this Section shall be with companies rated A-XV or better in Best’s Insurance Guide, and which are authorized to transact business in the State of Washington. No insurance policy shall be canceled or reduced in coverage
and each such policy shall provide that it is not subject to cancellation or a reduction in coverage except after thirty (30) days’ prior written notice to Landlord. Tenant shall deliver to Landlord upon commencement of the Lease and from
time to time thereafter, copies or certificates of the insurance policies required by this Section. In no event shall the limit of such policies be considered as limiting the liability of Tenant under this Lease. 
 16.4. LANDLORD INSURANCE. Landlord shall carry standard form extended coverage fire insurance of the building shell
and core in the amount of their full replacement value, and such other insurance of such types and amounts as Landlord, in its discretion, shall deem reasonably appropriate. The cost of any such insurance may be included in the Operating Costs by a
“blanket policy” insuring other parties and/or locations in addition to the Building, in which case the portion of the premiums therefor allocable to the Building and Project shall be included in the Operating Costs. In addition to the
foregoing, in the event Tenant fails to provide or keep in force any of the insurance as required above, Landlord, in its discretion, may provide such insurance, in which event, the cost thereof shall be payable by Tenant to Landlord as additional
rent on the first day of the calendar month immediately following demand therefor from Landlord. 
 16.5. WAIVER
OF SUBROGATION. Landlord and Tenant hereby release each other and any other tenant, their agents or employees, from responsibility for, and waive their entire claim of recovery for any loss or damage arising from
any cause covered by insurance required to be carried by each of them. Each party shall provide 

  

					
	GNW/Warehouse Lease	  	page 8	  	

 
notice to the insurance carrier or carriers of this mutual waiver of subrogation, and shall cause its respective insurance carriers to waive all rights of
subrogation against the other. This waiver shall not apply to the extent of the deductible amounts to any such policies or to the extent of liabilities exceeding the limits of such policies. 
 17. INDEMNIFICATION. Tenant shall defend, indemnify, and hold Landlord harmless against all liabilities, damages, costs, and expenses, including
attorneys’ fees, arising from any negligent or wrongful act or omission of Tenant or Tenant’s officers, contractors, licensees, agents, servants, employees, guests, invitees or visitors on or around the Premises as a result of any act,
omission or negligence of Tenant, or Tenant’s officers, contractors, licensees, agents, servants, employees, guests, invitees or visitors, or arising from any breach of this Lease by Tenant. Tenant shall use legal counsel acceptable to Landlord
in defense of any action within Tenant’s defense obligation. 
 Landlord shall defend, indemnify and hold Tenant harmless against all
liabilities, damages, costs, and expenses, including attorneys’ fees, arising from any negligent or wrongful act or omission of Landlord or Landlord’s officers, contractors, licensees, agents, servants, employees, guests, invitees or
visitors on or around the Premises as a result of any act, omission or negligence of Landlord, or Landlord’s officers, contractors, licensees, agents, servants, employees, guests, invitees or visitors, or arising from any breach of this Lease
by Landlord. Landlord shall use legal counsel acceptable to Tenant in defense of any action within Landlord’s defense obligation. 
 18. ASSIGNMENT AND SUBLETTING. Tenant shall not assign, sublet, mortgage, encumber or otherwise transfer any interest in this Lease (collectively referred to as a ‘Transfer”) or any part of the Premises, without first
obtaining Landlord’s written consent which shall not be unreasonably withheld or delayed. No Transfer shall relieve Tenant of any liability under this Lease notwithstanding Landlord’s consent to such transfer. Consent to any Transfer shall
not operate as a waiver of the necessity for Landlord’s consent to any subsequent Transfer. 
 If Tenant is a partnership, limited
liability company, corporation, or other entity, any transfer of this Lease by merger, consolidation, redemption or liquidation, or any change(s) in the ownership of, or power to vote, which singularly or collectively represents a majority of the
beneficial interest in Tenant, shall constitute a Transfer under this Section. 
 As a condition to Landlord’s approval, if given, any
potential assignee or sublessee otherwise approved by Landlord shall assume all obligations of Tenant under this Lease and shall be jointly and severally liable with Tenant for the payment of Rent and performance of all terms of this Lease. In
connection with any Transfer, Tenant shall provide Landlord with copies of all assignments, subleases and assumption instruments. 
 19.
LIENS. Tenant shall keep the Premises free from any liens created by or through Tenant. Tenant shall indemnify and hold Landlord harmless from liability from any such liens including, without limitation, liens arising from any Alterations. If a
lien 

  

					
	GNW/Warehouse Lease	  	page 9	  	

 
is filed against the Premises by any person claiming by, through or under Tenant, Tenant shall, upon request of Landlord, at Tenant’s expense,
immediately furnish to Landlord a bond in form and amount and issued by a surety satisfactory to Landlord, indemnifying Landlord and the Premises against all liabilities, costs and expenses, including attorneys’ fees, which Landlord could
reasonably incur as a result of such lien(s). 
 20. DEFAULT. The following occurrences shall each he deemed an Event of Default by
Tenant: 
 20.1. FAILURE TO PAY. Tenant fails to pay any sum, including Rent, due under
this Lease following five (5) days’ written notice from Landlord of the failure to pay. 
 20.2.
VACATION/ABANDONMENT. Tenant vacates the Premises (defined as an absence for at least thirty (30) consecutive days without prior notice to Landlord), or Tenant abandons the Premises (defined as an absence of
ten (10) days or more while Tenant is in breach of some other term of this Lease). Tenant’s vacation or abandonment of the Premises shall not be subject to any notice or right to cure. 
 20.3. INSOLVENCY. Tenant becomes insolvent, voluntarily or involuntary bankrupt or a receiver, assignee or other liquidating
officer is appointed for Tenant’s business, provided that in the event of any involuntary bankruptcy or other insolvency proceeding, the existence of such proceeding such constitute an Event of Default only if such proceeding is not dismissed
or vacated within sixty (60) days after its institution or commencement. 
 20.4. LEVY OR
EXECUTION. Tenant’s interest in this Lease or the Premises, or any part thereof, is taken by execution or other process of law directed against Tenant, or is taken upon or subjected to any attachment by any creditor of
Tenant, if such attachment is not discharged within fifteen (15) days after being levied. 
 20.5. OTHER
NON-MONETARY DEFAULTS. Tenant breaches any agreement, term or covenant of this Lease other than one requiring the payment of money and not otherwise enumerated in this Section, and the breach
continues for a period of thirty (30) days after notice by Landlord to Tenant of the breach. 
 20.6. FAILURE
TO TAKE POSSESSION. Tenant fails to take possession of the Premises on the Commencement Date. 
 21. REMEDIES. Landlord shall have the following remedies upon an Event of Default. Landlord’s rights and remedies under this Lease shall be cumulative, and none shall exclude any other right or remedy allowed by law. 

21.1. TERMINATION OF LEASE. Landlord may terminate Tenant’s interest under the Lease, but no
act by Landlord other than written notice from Landlord to Tenant of termination shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to
Landlord for damages in an amount equal to the rent and other sums that 

  

					
	GNW/Warehouse Lease	  	page 10	  	

 
would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any reletting of the Premises by
Landlord subsequent to the termination, after deducting all Landlord’s Reletting Expenses (as defined below). Landlord shall he entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been
payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid
rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the
Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%));
and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of
Default, including without limitation Reletting Expenses described in Section 21.2. 
 21.2. RE-ENTRY
AND RELETTING. Landlord may continue this Lease in full force and effect, and without demand or notice, reenter and take possession of the Premises or any part thereof, expel the Tenant from the Premises and anyone
claiming through or under the Tenant, and remove the personal property of either. Landlord may relet the Premises, or any part of them, in Landlord’s or Tenant’s name for the account of Tenant, for such period of time and at such other
terms and conditions, as Landlord, in its discretion, may determine. Landlord may collect and receive the rents for the Premises. Re-entry or taking possession of the Premises by Landlord under this Section shall not he construed as an election on
Landlord’s part to terminate this Lease, unless a written notice of termination is given to Tenant. Landlord reserves the right following any re-entry or reletting, or both, under this Section to exercise its right to terminate the Lease.
During the Event of Default, Tenant will pay Landlord the rent and other sums which would be payable under this Lease if repossession had not occurred, plus the net proceeds if any, after reletting the Premises, after deducting Landlord’s
Reletting Expenses, “Reletting Expenses” is defined to include all expenses incurred by Landlord in connection with reletting the Premises, including without limitation, all repossession costs, brokerage commissions, attorneys’ fees,
remodeling and repair costs, costs for removing and storing Tenant’s property and equipment, and rent concessions granted by Landlord to any new Tenant, prorated over the life of the new lease. 
 21.3. WAIVER OF REDEMPTION RIGHTS. Tenant, for itself, and on behalf of any and all
persons claiming through or under Tenant, including creditors of all kinds, hereby waives and surrenders all rights and privileges which they may have under any present or future law, to redeem the Premises or to have a continuance of this Lease for
the Lease term, as it may have been extended. 
 21.4. NONPAYMENT OF ADDITIONAL
RENT. All costs which Tenant agrees to pay to Landlord pursuant to this Lease shall in the event of nonpayment be 

  

					
	GNW/Warehouse Lease	  	page 11	  	

 
treated as if they were payments of Rent, and Landlord shall have all the rights herein provided for in case of nonpayment of Rent. 
 21.5. FAILURE TO REMOVE PROPERTY. If Tenant fails to remove any of its property from
the Premises at Landlord’s request following an uncured Event of Default, Landlord may, at its option and without notice, remove and store the property at Tenant’s expense and risk. If Tenant does not pay the storage cost within five
(5) days of Landlord’s request, Landlord may, at its option, have any or all of such property sold at public or private sale (and Landlord may become a purchaser at such sale), in such manner as Landlord deems proper, without notice to
Tenant. Landlord shall apply the proceeds of such sale: (i) to the expense of such sale, including reasonable attorneys’ fees actually incurred; (ii) to the payment of the costs or charges for storing such property; (iii) to the
payment of any other sums of money which may then be or thereafter become due Landlord from Tenant under any of the terms hereof; and (iv) the balance, if any, to Tenant. Nothing in this Section shall limit Landlord’s right to sell
Tenant’s personal property as permitted by law to foreclose Landlord’s lien for unpaid rent. 
 22. MORTGAGE SUBORDINATION AND
ATTORNMENT. This Lease shall automatically be subordinate to any mortgage or deed of trust created by Landlord which is now existing or hereafter placed upon the Premises including any advances, interest, modifications, renewals, replacements or
extensions (“Landlord’s Mortgage”), provided the holder of any Landlord’s Mortgage or any person(s) acquiring the Premises at any sale or other proceeding under any such Landlord’s Mortgage shall elect to continue this Lease
in full force and effect. Tenant shall attorn to the holder of any Landlord’s Mortgage or any person(s) acquiring the Premises at any sale or other proceeding under any Landlord’s Mortgage provided such person(s) assume the obligations of
Landlord under this Lease. Tenant shall promptly and in no event later than fifteen (15) days execute, acknowledge and deliver documents which the bolder of any Landlord’s Mortgage may reasonably require as further evidence of this
subordination and attornment. Notwithstanding the foregoing, Tenant’s obligations under this Section are conditioned on the holder of each of Landlord’s Mortgage and each person acquiring the Premises at any sale or other proceeding under
any such Landlord’s Mortgage not disturbing Tenant’s occupancy and other rights under this Lease, so long as no uncured Event of Default exists. 
 23. NON-WAIVER. Landlord’s waiver of any breach of any term contained in this Lease shall not be deemed to be a waiver of the same term for subsequent acts of Tenant. The acceptance by Landlord of Rent or
other amounts due by Tenant hereunder shall not be deemed to be a waiver of any breach by Tenant preceding such acceptance. 
 24.
HOLDOVER. If Tenant shall, without the written consent of Landlord, hold over after the expiration or termination of the Term, such tenancy shall be deemed to be on a month-to-month basis and may be terminated according to Washington law. During
such tenancy, Tenant agrees to pay to Landlord one hundred fifty percent (150%) the rate of rental last payable under this Lease, unless a different rate is agreed upon by Landlord. All other terms of the Lease shall remain in effect. 
  

					
	GNW/Warehouse Lease	  	page 12	  	

 25. NOTICES. All notices under this Lease shall he in writing and effective (i) when delivered in
person, (ii) three (3) days after being sent by registered or certified mail to Landlord or Tenant, as the case may be, at the Notice Addresses set forth in Section 1.8; or (iii) upon confirmed transmission by facsimile to such persons at the
facsimile numbers set forth in Section 1.8 or such other addresses/facsimile numbers as may from time to time be designated by such parties in writing. 
 26. COSTS AND ATTORNEYS’ FEES. If Tenant or Landlord engage the services of an attorney to collect monies due or to bring any action for any relief against the other, declaratory or otherwise, arising out
of this Lease, including any suit by Landlord for the recovery of Rent or other payments, or possession of the Premises, the losing party shall pay the prevailing party a reasonable sum for attorneys’ fees in such suit, at trial and on appeal.

 27. ESTOPPEL CERTIFICATES. Tenant shall, from time to time, upon written request of Landlord, execute, acknowledge and deliver to
Landlord or its designee a written statement specifying the following, subject to any modifications necessary to make such statements true and complete; (i) the date the Lease term commenced and the date it expires; (ii) the amount of minimum
monthly Rent and the date to which such Rent has been paid; (iii) that this Lease is in full force and effect and has not been assigned, modified, supplemented or amended in any way; (iv) that this Lease represents the entire agreement
between the parties; (v) that all conditions under this Lease to be performed by Landlord have been satisfied; (vi) that there are no existing claims, defenses or offsets which the Tenant has against the enforcement of this Lease by
Landlord; (vii) that no Rent has been paid more than one month in advance; and (viii) that no security has been deposited with Landlord (or, if so, the amount thereof). Any such statement delivered pursuant to this Section may be relied
upon by a prospective purchaser of Landlord’s interest or assignee of any mortgage or new mortgagee of Landlord’s interest in the Premises. If Tenant shall fail to respond within ten (10) days of receipt by Tenant of a written request
by Landlord as herein provided, Tenant shall be deemed to have given such certificate as above provided without modification and shall be deemed to have admitted the accuracy of any information supplied by Landlord to a prospective purchaser or
mortgagee. 
 28. TRANSFER OF LANDLORD’S INTEREST. This Lease shall be assignable by Landlord without the consent of Tenant. In
the event of any transfer or transfers of Landlord’s interest in the Premises, other than a transfer for security purposes only, upon the assumption of this Lease by the transferee, Landlord shall be automatically relieved of obligations and
liabilities accruing from and after the date of such transfer, except for any retained security deposit or prepaid rent, and Tenant shall attorn to the transferee. 
 29. RIGHT TO PERFORM. If Tenant shall fail to timely pay any sum or perform any other act on its part to be performed hereunder, Landlord may make any such payment or perform any such other act on Tenant’s
part to be made or performed as provided in this Lease. Tenant shall, on demand, reimburse Landlord for its expenses incurred in making such payment or performance. Landlord shall (in addition to any 

  

					
	GNW/Warehouse Lease	  	page 13	  	

 
other right or remedy of Landlord provided by law) have the same rights and remedies in the event of the nonpayment of sums due under this Section as in the
case of default by Tenant in the payment of Rent. 
 30. HAZARDOUS MATERIAL. 
 Tenant shall not cause or permit any Hazardous Material to be brought upon, kept, or used in or about, or disposed of on the Premises by Tenant, its
agents, employees, contractors or invitees, except in strict compliance with all applicable federal, state and local laws, regulations, codes and ordinances. If Tenant breaches the obligations stated in the preceding sentence, then Tenant shall
indemnify, defend and hold Landlord harmless from any and all claims, judgments, damages, penalties, fines, costs, liabilities or losses including, without limitation, diminution in the value of the Premises, damages for the loss or restriction on
use of rentable or usable space or of any amenity of the Premises, or elsewhere, damages arising from any adverse impact on marketing of space at the Premises, and sums paid in settlement of claims, attorneys’ fees, consultant fees and expert
fees incurred or suffered by Landlord either during or after the Lease term. The indemnification by Tenant includes, without limitation, costs incurred in connection with any investigation of site conditions or any cleanup, remedial, removal or
restoration work, whether or not required by any federal, state or local governmental agency or political subdivision, because of Hazardous Material present in the Premises, or in soil or groundwater on or under the Premises. Tenant shall
immediately notify Landlord of any inquiry, investigation or notice that Tenant may receive from any third party regarding the actual or suspected presence of Hazardous Material on the Premises. 
 Without limiting the foregoing, if the presence of any Hazardous Material brought upon, kept or used in or about the Premises by Tenant, its agents,
employees, contractors or invitees, results in any unlawful release of Hazardous Material on the Premises or any other property, Tenant shall promptly take all actions, at its sole expense, as are necessary to properly remediate the Premises in
accordance with federal and state standards applicable to the release of any such Hazardous Material; provided that Landlord’s approval of such actions shall first be obtained, which approval may be withheld at Landlord’s sole discretion.

 Notwithstanding anything to the contrary herein, Tenant’s obligations under this Lease to indemnify Landlord with respect to
Hazardous Materials and to remediate Hazardous Materials are not applicable to Hazardous Materials on, in or under the Premises prior to the Commencement Date. 
 As used herein, the term “Hazardous Material” means any hazardous, dangerous, toxic or harmful substance, material or waste including biomedical waste which is or becomes regulated by any local governmental
authority, the State of Washington or the United States Government due to its potential harm to the health, safety or welfare of humans or the environment. 
  

					
	GNW/Warehouse Lease	  	page 14	  	

 31. QUIET ENJOYMENT. So long as Tenant pays the Rent and performs all of its obligations in this
Lease, Tenant’s possession of the Premises will not be disturbed by Landlord or anyone claiming by, through or under Landlord, or by the holders of any Landlord’s Mortgage or any successor thereto. 
 32. GENERAL. 
 32.1.
HEIRS AND ASSIGNS. This Lease shall apply to and be binding upon Landlord and Tenant and their respective heirs, executors, administrators, successors and assigns. 
 32.2. BROKERS’ FEES. Tenant represents and warrants to Landlord that has engaged, finder or other person who
would be entitled to any commission or fees for the negotiation, execution, or delivery of this Lease other than as disclosed in this Lease. Tenant shall indemnify and hold Landlord harmless against any loss, cost, liability or expense incurred by
Landlord as a result of any claim asserted by any such broker, finder or other person on the basis of any arrangements or agreements made or alleged to have been made by or on behalf of Tenant. This subparagraph shall not apply to brokers with whom
Landlord has an express written brokerage agreement. 
 32.3. ENTIRE AGREEMENT. This Lease contains all
of the covenants and agreements between Landlord and Tenant relating to the Premises. No prior agreements or understanding pertaining to the Lease shall be valid or of any force or effect and the covenants and agreements of this Lease shall not be
altered, modified or added to except in writing signed by Landlord and Tenant. 
 32.4. SEVERABILITY. Any provision of
this Lease which shall prove to be invalid, void or illegal shall in no way affect, impair or invalidate any other provision of this Lease. 
 32.5. FORCE MAJEURE. Time periods for either party’s performance under any provisions of this Lease (excluding payment of Rent) shall be extended for periods of time during which the party’s
performance is prevented due to circumstances beyond such party’s control, including without limitation, fires, floods, earthquakes, lockouts, strikes, embargoes, governmental regulations, acts of God, public enemy, war or other strife.

 32.6. GOVERNING LAW. This Lease shall be governed by and construed in accordance with the laws of the
State of Washington. 
 32.7. MEMORANDUM OF LEASE. This Lease shall not be recorded.
However, Landlord and Tenant shall, at the other’s request, execute and record a memorandum of Lease in recordable form that identifies Landlord and Tenant, the commencement and expiration dates of the Lease, and the legal description of the
Premises as set forth on attached EXHIBIT A. 
 32.8. SUBMISSION OF
LEASE FORM NOT AN OFFER. One party’s submission of this Lease to the other for review shall not constitute an offer to lease the 

  

					
	GNW/Warehouse Lease	  	page 15	  	

 
Premises. This Lease shall not become effective and binding upon Landlord and Tenant until it has been fully signed by both Landlord and Tenant. 

32.9. AUTHORITY OF PARTIES. Any individual signing this Lease on behalf of an entity represents
and warrants to the other that such individual has authority to do so and, upon such individual’s execution, that this Lease shall be binding upon and enforceable against the party on behalf of whom such individual is signing. 
 33. PARKING. Tenant and its customers shall be entitled to share parking with Landlord’s other tenants and their customers at the designated
parking areas for the Property at no charge. Tenant shall comply and shall be responsible for the compliance of its customers with the terms of the Lease and any reasonable rules and regulations adopted by Landlord from time to time for the safe and
orderly sharing of parking. 
 In WITNESS WHEREOF this Lease has been executed the date
and year first above written. 
  

									
	 LANDLORD:
	 		 	TENANT:
			
	 AMERICAN LIFE, INC.,
 a Washington corporation
	 		 	John Plaza
					
	 By
	 	 /s/ Henry Liebman
	 		 	By	 	 /s/ John Plaza

	 Name:
	 	HENRY LIEBMAN	 		 		 	
	 Title:
	 	PRESIDENT	 		 		 	
			
	  
	 		 	  

			
	  
	 		 	  

  

					
	GNW/Warehouse Lease	  	page 16	  	

 ASSIGNMENT AND AMENDMENT TO LEASE AGREEMENT 
 This ASSIGNMENT AND AMENDMENT TO LEASE AGREEMENT (hereinafter “AMENDMENT”) amends the LEASE AGREEMENT, dated March 16, 2004, between American Life Inc.,
General Partner of Lonestar Investors Limited Partnership, a Washington limited partnership (“Landlord”) and John Plaza (“Tenant”). 
 LANDLORD AND TENANT HEREBY AGREE AS FOLLOWS: 
  

	 	1.	The LEASE AGREEMENT is assigned from John Plaza as Tenant to Seattle Biodiesel, LLC as Tenant as of the effective date of the AMENDMENT. 

  

	 	2.	Paragraph 1.1 of the LEASE AGREEMENT is amended to increase the Premises by 1800 square feet to a total agreed area of 8841 square feet, outlined on the floor plan attached hereto
as Exhibit A (which replaces current Exhibit A). This increase shall be effective January 1, 2006. 

  

	 	3.	Paragraph 1.4 of the LEASE AGREEMENT is amended to delete the current table defining monthly base rent and amend the first sentence to read in its entirety as follows: The base
monthly rent shall be $4420.50 commencing January 1, 2006.” 

  

	 	4.	Notwithstanding anything to the contrary in the LEASE AGREEMENT, Tenant may install and operate one or more underground storage tanks and related equipment (Tanks) on the Premises.
The ownership and operation of the Tanks is a Permitted Use in accordance with paragraph 1.7 of the LEASE AGREEMENT. 

  

	 	5.	Tenant shall be solely responsible for complying with all applicable federal, state and local environmental statutes, ordinances, rules and regulations including, without
limitation, obtaining any necessary permits related to the ownership and/or operation of the Tank(s), complying with any and all applicable Tank standards, release reporting requirements, and standards applicable to the handling, treatment, storage
and/or disposal of wastes and/or hazardous substances(as those terms are defined in any applicable statutes, ordinances, rules and/or regulations). 

  

	 	6.	Upon termination of this Agreement, any Tanks installed by Tenant pursuant to this AMENDMENT shall be removed from the Premises at Tenant’s sole cost and expense and Tenant
shall remediate any releases to the environment arising out of or relating to the ownership, operation or use of the Tanks by Tenant. The installation of Tanks shall not be considered Alterations as that term is used in the LEASE AGREEMENT.

  

	 	7.	 TENANT shall indemnify, hold harmless and defend LANDLORD from any and all fines, suits, proceedings, claims, demands, liabilities and actions of any kind (and from
all reasonable costs and expenses of any investigation and defense against the same, including attorney’s fees at or before trial or appeal) by any party, arising from or 

	 	 
pertaining to the ownership, operation or use of the Tank(s), except to the extent that such claims or liabilities arise from negligence or breach of law by
LANDLORD, its agents or employees. 

  

	 	8.	No later than thirty (30) days from the date of this AMENDMENT, TENANT shall provide to LANDLORD an endorsement from TENANT’s liability insurer in which LANDLORD is named
as an additional insured for purposes of the indemnification set forth in paragraph 7 hereof. 

  

	 	9.	In case of joint negligence by LANDLORD and TENANT hereunder, the parties shall bear their respective proportionate shares of liability as determined by competent courts or
government agencies. 

  

	 	10.	In the event of any conflict between the terms of the LEASE AGREEMENT and this AMENDMENT as it pertains to the Tanks, the provisions of this AMENDMENT shall be controlling. All
terms used and not otherwise defined in this AMENDMENT shall have the meaning set forth in the LEASE AGREEMENT. 

  

	 	11.	This AMENDMENT may be executed in counterparts. Each such counterpart shall be considered an original document, but all such counterparts shall constitute a single document.

 In Witness Whereof this Amendment has been executed this 19th day of December, 2005. 
  

									
	LANDLORD	 		 	TENANT
	AMERICAN LIFE CO, INC.	 		 	SEATTLE BIODIESEL, LLC, as Assignee and Tenant
					
	By:	 	 /s/
	 		 	By:	 	 /s/ John Plaza

					
	Title:	 	President	 		 	Title:	 	President
					
	Date:	 	2/19/05	 		 	Date:	 	12/19/05
				
		 		 		 	JOHN PLAZA, as Assignor
					
		 		 		 	By:	 	 /s/

					
		 		 		 	Date:	 	12/19/05Methanol Sales Agreement

 Exhibit 10.11 
  

			
	 *** CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT.
THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO THE CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED AS [****]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION.

 METHANOL SALES AGREEMENT 
 This METHANOL SALES AGREEMENT (the “Agreement”) is made on December 8th, 2006 between Methanex Methanol Company at 15301 Dallas
Parkway, Suite 1150, Addison, TX 75001-6480, (“Seller”), and Imperium Renewables, 1418 Third Avenue, Suite 300, Seattle, WA, 98101, (“Buyer”). 
 COMMERCIAL TERMS 
 WHEREAS: 
 Seller has agreed to supply Methanol (defined below) to Buyer, and Buyer has agreed to purchase such Methanol from Seller, on the terms and conditions set out in this Agreement. 
  

	1.	Interpretation: 

 This Agreement consists of these Commercial Terms,
Schedule A—Methanol Specification and Schedule B—General Terms and Conditions. Words contained in these Commercial Terms with an initial capital letter shall have the meaning given to such word in these Commercial Terms or in
Section 1 of Schedule B attached. Unless expressly stated otherwise, references to sections, clauses or articles in these Commercial Terms shall be deemed to be references to sections, clauses and articles of these Commercial Terms. 

 

	2.	Specification 

 Methanol (“Methanol” or
“Product”) delivered in accordance with this Agreement shall comply with the specification set forth in Schedule A attached hereto and made a part hereof. 
  

	3.	Quantity of Product 

 Subject to the terms and conditions contained
in this Agreement, Seller agrees to sell to Buyer, and Buyer agrees to purchase from Seller, 95% of Buyer’s total annual requirements of Methanol at Buyer’s facility in Gray’s Harbor, WA, estimated to be [****] each Year during the
Term (defined below) of this Agreement. The actual quantity of Product purchased by Buyer during a Year is to be nominated by Buyer in accordance with the provision of this Agreement. Buyer shall use its best efforts to take Product evenly over the
Term of this Agreement. 
  

	4.	Term and Termination 

 4.1 Subject to earlier termination in
accordance with these Commercial Terms or Section 12 of Schedule B, the initial term (“Initial Term”) of this Agreement shall commence on May 1, 2007 and expire on April 30, 2010. This Agreement shall be automatically
renewed for a further 2 year period (each a “Renewal Term”), unless and until terminated by either party by service of at least six months on the other party, such notice not to be served before October 31, 2009. For the
purposes of this Agreement the word “Term” means the Initial Term and any Renewal Term, if applicable. 
 4.2 As soon as reasonably
practicable after notice having been served by either party pursuant to this Section 4, the parties shall meet to discuss in good faith the reasons for termination and the possible continuation of this Agreement. 
  

	5.	Price 

  

	(a)	For the period from May 1, 2007 until the earlier of: (i) January 1, 2008, and (ii) the Terminal Commencement Date, provided such date is prior to
January 1, 2008, the price (“Gray’s Harbor CPT 

  

 1 of 11 

	
	 *** CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED
HEREWITH OMITS THE INFORMATION SUBJECT TO THE CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED AS [****]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

 Price”) in US cents per gallon of Methanol sold by Seller to Buyer at the Gray’s
Harbor CPT Point (defined below) for each calendar month shall be determined as follows: 
 Gray’s Harbor CPT Price = MNDRP + RF + L +
G 
  

	(b)	For the period from January 1, 2008 until the Terminal Commencement Date, provided such date is after January 1, 2008, the price (“Gray’s Harbor CPT
Price”) in US cents per gallon of Methanol sold by Seller to Buyer at the Gray’s Harbor CPT Point (defined below) for each calendar month shall be determined as follows: 

 Gray’s Harbor CPT Price = MNDRP + F + G 
  

	(c)	The price (“Vancouver WA FCA Price”) in US cents par gallon of Methanol sold by Seller to Buyer at the Vancouver, WA FCA Point (defined below) for each calendar
month shall be determined as follows: 

  

	 	Vancouver	WA FCA Price = MNDRP + G 

  

	(d)	For the purposes of Section 5, the following terms shall have the following meaning: 

 “MNDRP” is the Methanex US Gulf Coast Non-Discounted Reference Price, which is the market index price per gallon of Methanol determined by Seller on a monthly basis. This price is announced to
customers directly by Seller, and is also made available in the trade publications; 
 “RF” is the actual rail freight cost
of transporting Product to the property line of Buyer’s facility in Gray’s Harbor, WA from Seller’s terminal in Kitimat, British Columbia (defined below). “F” shall be subject to monthly adjustments to reflect actual rail
freight plus fuel surcharge costs incurred by Seller in transporting Product to Buyer’s facility in Gray’s Harbor, WA during the Term of this Agreement; 
 “F” is the actual freight cost of transporting Product to the property line of Buyer’s facility in Gray’s Harbor, WA from the Vancouver Washington Terminal (defined below) by tank truck.

 “L” is the cost to hold the railcars in service for deliveries of Product, and “L” includes actual railcar lease
and management costs. “L” shall be set at $0.03 per gallon for the first eighteen (18) months of the agreement and then be subject to adjustment to reflect any cost changes incurred by Seller thereafter; and  
 “G” is equal to $[****] per gallon representing the geographic differential compared to USGC ($[****] per Tonne). 
  

	(e)	In the event Buyer purchases from Seller during any consecutive six month period starting from May 1, 2007 a quantity of Product greater than [****], then Buyer shall be
entitled to a rebate (“Rebate”) calculated monthly for such six month period as follows: the MNDRP applicable for the month multiplied by [****]% multiplied by the quantity of Product sold by Buyer to Seller during such month.
Seller shall pay Buyer the Discount within 30 days from the last day of the sixth month. 

  

	6.	Taxes and Duty 

 The prices set out in Sections 5(a), (b) and
(c) are is exclusive of any applicable taxes, duties, and impositions which, if applicable, shall be paid by Buyer to Seller at the same time as the price of the Product set forth in Section 5(a), (b) and (c) is paid. 

 

 2 of 11 

	
	 *** CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED
HEREWITH OMITS THE INFORMATION SUBJECT TO THE CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED AS [****]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

 7. Invoicing and Payment Terms 
 Seller shall invoice Buyer for Product on a monthly basis, at the end of each calendar month, based upon the quantity of Product delivered during such calendar month and the price for such Product as set forth in
Section 5 above. 
  

	7.1	Buyer shall make payment to Seller, in the full amount of any invoice, within 15 days from receipt of invoice. 

  

	7.2	Payment of all invoices shall be made by Buyer to Seller by wire transfer to Seller’s bank below, or provided Seller agrees in writing, to the Seller’s nominated agent.

 LaSalle National Bank 
 ABA No.: [****] 
 Account of: Methanex Methanol Company 
 Account No.: [****] 
  

	8.	Delivery Incoterm 

  

	8.1	Product sold by Seller to Buyer under this Agreement is sold as follows: 

  

	 	(a)	CPT (as defined by Incoterms) Buyer’s facility in Gray’s Harbor, WA (the “Gray’s Harbor CPT Point”). Seller shall deliver the Product to Buyer at the
Gray’s Harbor CPT Point by means of Seller’s (or Seller’s lessor’s) railcars; 

  

	 	(b)	from and after the Terminal Commencement Date (defined below), FCA (as defined by Incoterms) Vancouver Washington Terminal (the “Vancouver WA FCA Point”). Seller
shall deliver the Product to the Buyer at the Vancouver WA FCA Point into tank trucks procured by Buyer. 

  

	8.2	Buyer and Seller acknowledge that Seller is in the process of securing methanol storage tanks at a terminal in Vancouver, WA (the “Vancouver Washington Terminal”). Seller
shall provide Buyer with not less than [30] days written notice of the date on which the Vancouver Washington Terminal will become operational (such date, the “Terminal Commencement Date”). Buyer shall provide Seller with not less than
[45] days written notice of the date whereby Buyer will commence FCA deliveries. 

  

	9.	Product to be Used Only by Buyer 

 Buyer covenants and agrees that
the Product purchased by it from Seller is to be used solely and exclusively at Gray’s Harbor, WA by Buyer for Buyer’s own captive consumption and that Buyer will not sell or otherwise directly or indirectly dispose of the Product to any
other person, firm, corporation or other similar entity. 
  

	10.	Forecasting and Nomination Procedures 

 a) By the first day of each
calendar month preceding a calendar quarter Buyer will provide a rolling forecast of Product expected to be required in each of the next four calendar quarters. For the avoidance of doubt, this forecast is not a commitment to purchase any Product
during such calendar quarters. 
 b) Buyer shall, no later than the fifteenth day of each calendar month, provide to Seller a rolling three month forecast of
Product expected to be required by Buyer in each of the next three calendar months, the forecast for the first calendar month of which shall constitute a firm commitment of the Buyer to take delivery of and pay for such Product for that calendar
month. In preparing the forecast hereunder, Buyer shall use its best efforts to provide an accurate forecast. If Buyer fails to provide said forecast, Buyer agrees to accept Seller’s forecast for the first calendar month. 
 c) Buyer shall advise Seller of any event or circumstance that may impact Buyer’s consumption/demand 

  

 3 of 11 

 
for Product as forecasted by Buyer in accordance with Sections 10(a) and (b) above, as soon as practical after Buyer becomes aware of such event or
circumstance. 
  

	11.	Entire Agreement 

 This Agreement, consisting of this document
(“Commercial Terms”) and the following listed Schedules, which are incorporated into and form an integral part of this Agreement: 
  

	 	Schedule	A – Methanol Specification 

	 	Schedule	B – General Terms and Conditions 

 In the event of any inconsistency
or conflict between any terms or conditions of these Commercial Terms and any Schedule, the terms or conditions contained in these Commercial Terms shall govern. 
  

									
	Signed for and on behalf of:	 		 	Signed for and on behalf of:
			
	IMPERIUM RENEWABLES	 		 	 METHANEX METHANOL COMPANY by its
 General Partner, Methanex Gulf Coast Inc.

			
	             /s/ John Plaza
	 		 	             /s/ C.J.
Caudell

	By:	 	John Plaza	 		 	By:	 	C.J. Caudell
	Title:	 	President	 		 	Title:	 	President
				
		 		 		 	             /s/ Tangela
Blain

		 		 		 	By:	 	Tangela Blain
		 		 		 	Title:	 	Vice President

  

 4 of 11 

 SCHEDULE A TO THE METHANOL SALES AGREEMENT 
 

 
  

 5 of 11 

 SCHEDULE B TO THE METHANOL SALES AGREEMENT 
 GENERAL TERMS AND CONDITIONS 
  

	1.	INTERPRETATION 

  

	1.1	No term or condition contained in any purchase order, order acknowledgement, sale confirmation or any other instrument or document issued by Buyer in respect of the subject matter
of this Agreement shall be binding upon Seller nor shall such term or condition become a part of this Agreement unless specifically agreed to by Seller in writing. 

  

	1.2	Unless otherwise agreed in writing, all currency references shall be deemed to be references to U.S. dollars and cents and all references to gallons shall be deemed to be references
to U.S. gallons. 

  

	1.3	In the event of any inconsistency or conflict between any term or conditions of this Schedule “B” and any term or condition contained in the Commercial Terms, the term or
condition contained in the Commercial Terms shall govern. 

  

	1.4	“Agreement” means the Methanol Sales Agreement entered into between the parties hereto and is comprised of the Commercial Terms, Schedule “A” (Specifications),
this Schedule “B” (General Terms and Conditions) and such other schedules that are deemed to form a part of this Agreement in accordance with the Commercial Terms. 

  

	1.5	“B/L Date” means the day the Bill of Lading is issued with respect to the delivery of a particular shipment of Methanol by Seller to Buyer. 

  

	1.6	“Bill of Lading” means the form of bill of lading used by Seller and which is issued by the vessel owner’s nominated agent with respect to a particular shipment of
Methanol. 

  

	1.7	“Commercial Terms” means the document entitled “Commercial Terms” attached to and forming part of this Agreement and expressly incorporating the terms of this
Schedule “B”. 

  

	1.8	“Gallons” means US gallons. 

  

	1.9	“Incoterms” means the standardized definitions relating to the import and export of goods published by the International Chamber of Commerce as revised in 2000.

  

	1.10	“Tonne” and “MT” mean a metric weight tonne equating to 1,000 kilograms. 

  

	1.11	Section headings used in this Schedule “B” and in the Commercial Terms are for convenience only. Words contained in this Schedule “B” with an initial capital
letter that are defined in the Commercial Terms and not otherwise defined in this Schedule “B” shall have the meaning given to such words as in the Commercial Terms. 

  

	2.	DELIVERY 

  

	2.1	Where Buyer wishes to use its own tank trucks or barges, as applicable, in respect of Product delivered FOB or FCA (as such terms are defined by Incoterms), such tank trucks and
barges will be accepted at the Delivery Point on a first-come, first-served basis. 

  

	2.2	Buyer shall be responsible for promptly taking delivery of the Product at the Delivery Point. Buyer shall be liable for all costs associated with Buyer’s failure to arrange
timely payment for Product and/or Buyer’s failure to take delivery of Product that Buyer has committed to take including, without limitation, dead freight costs for Product not loaded and demurrage costs for any waiting time incurred by a
barge, or railcar, as the case may be, at the Delivery Point, as applicable, and other similar costs. 

  

	2.3	Seller or its carrier may provide Buyer with unloading or shipment equipment to facilitate the unloading of the Product. Such equipment is used by Buyer at Buyer’s sole risk
and Buyer shall ensure that such equipment is used and maintained in a proper, safe and reliable manner. Buyer shall promptly return all unloading or shipment equipment and comply with any instructions as given by Seller or its carrier with respect
to the return of any unloading or shipment equipment. 

  

	3.	RISK OF LOSS AND TRANSFER OF TITLE 

 Unless
otherwise expressly stated in the Commercial Terms: (i) Product sold under this Agreement shall be delivered as defined by the Incoterms stated in the Commercial Terms; (ii) risk of loss in the Product shall pass from Seller to Buyer as
specifically defined by the Incoterms stated in the Commercial Terms; and (iii) title in the Product shall pass from Seller to Buyer at the point when the risk of loss passes from the Seller to the Buyer. 
  

	4.	INSPECTION 

  

	4.1	For all Product delivered CIF or CFR (as such terms are defined in Incoterms) Delivery Point by barge: 

  

	 	(a)	the quality of Product shall be determined at the port of shipment based on the most recent certificate of analysis issued by an independent surveyor selected by Seller in respect
of the applicable storage tank; and 

  

	 	(b)	the quantity of Product loaded into the barge shall be certified by an independent surveyor based on land tank measurements before and after loading the Product into the barge.

  

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 The surveyor’s certificate of analysis and the barge load report shall be final and binding upon the
parties, save in the case of fraud or manifest error. A copy of the certificate of analysis and the barge load report shall be issued by the surveyor to both Buyer and Seller. 
  

	4.2	Intentionally deleted. 

  

	4.3	For all Product delivered FCA (as defined in Incoterms) Delivery Point by rail car, pipeline or tank truck: 

  

	 	(a)	the quality of the Product loaded into railcars, pipeline or tank trucks at such Delivery Point shall be determined based on the most recent certificate of analysis issued by an
independent surveyor selected by Seller in respect of the applicable storage tank. This surveyor’s certificate of analysis shall be final and binding upon the parties, save in the case of fraud or manifest error. 

  

	 	(b)	the quantity of Product shall be determined at the Delivery Point using the method which is customary for the particular loading facility provided that it is within accepted
industry practice, which methods may include positive displacement meter, weigh scales, official tank car capacity tables or gauged by an independent surveyor. Any surveyor’s fees payable shall be shared equally by Buyer and Seller.

  

	 	(c)	Seller or Seller’s terminal agent may refuse to load Product onto a rail car or tank truck if Seller or Seller’s terminal agent reasonably believes the rail car or tank
truck, as the case may be, is defective or not clean. Neither Seller nor Seller’s terminal agent shall be liable to Buyer for any loss or delay as a result of the failure by the Seller or Seller’s terminal agent to load Product in a timely
manner due to the lack of cleanliness of, or a defect in, a rail car or tank truck. Seller shall, unless otherwise notified by Buyer or the Commercial Terms stipulate otherwise, effect the delivery of such Product to Buyer on the next available,
suitable rail car or tank truck. 

  

	4.4	For all Product delivered CPT (as defined in Incoterms) Delivery Point by rail car: 

  

	 	(a)	the quality of the Product loaded into railcars at such Delivery Point shall be determined based on the most recent certificate of analysis issued by an independent surveyor
selected by Seller in respect of the applicable storage tank. This surveyor’s certificate of analysis shall be final and binding upon the parties, save in the case of fraud or manifest error; and 

  

	 	(b)	the quantity of Product shall be determined at the Delivery Point using the method which is customary for the particular loading facility provided that it is within accepted
industry practice, which methods may include positive displacement meter, weigh scales or official tank car capacity tables. 

  

	4.5	Variations in the quantity of any Product delivered under this Agreement from the invoice or Bill of Lading quantity of 1.0% or less in the case of tank trucks, pipelines or
railcars and 0.5% or less in the case of barges, shall be disregarded and Seller shall have no liability or obligation to adjust for such minor variances. 

  

	4.6	Subject to Section 4.5 above, if the surveyor or loading facility, as the case may be, advises Seller in writing of any shipment containing less Product than that quantity
nominated by Buyer, then Seller shall, at its sole option: 

  

	 	a)	deliver to Buyer, within a reasonable period of time, a quantity of Product equal to the amount of the shortfall, such delivery to be made on the same terms and conditions as are
provided in this Agreement; or 

  

	 	b)	provide a credit note to Buyer for the amount of the shortfall if Buyer has paid for such nominated quantity of Product in full, or adjust the amount of the invoice for such Product
if Buyer has not paid for such nominated quantity of Product in full. 

 Buyer’s sole and exclusive remedy and
Seller’s only liability or obligation for any shortfall in Product delivered hereunder shall be limited to the performance by Seller of one of the alternatives described in this Section 4.6. 
  

	4.7	Notice of any claim by Buyer respecting a particular shipment of Product pursuant to this Section 4 shall be immediately given in writing by Buyer to Seller, together with all
relevant supporting documentation in Buyer’s possession or control, in any event no later than one month following delivery date of such shipment. 

  

	5.	LATE PAYMENT 

  

	5.1	If Buyer fails to pay the full amount of any invoice when due, or if Buyer’s financial status deteriorates or Seller perceives, acting reasonably, that Buyer’s financial
status has deteriorated, Seller may, in its sole discretion, require payment in cash, or the establishment of a form of payment security, before any further shipments of Product are made under this Agreement. Upon request by Seller and within 60
days of such request, Buyer agrees to deliver to Seller for the purposes of determining Buyer’s credit limit, if applicable, its annual audited financial statements, and quarterly unaudited financial statement. 

  

	5.2	 If Buyer does not pay Seller in full for Product delivered by the due date, Seller shall be entitled to charge Buyer interest on the unpaid amount, from the due
date up to the date of actual payment, at a rate of 

  

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2% per month or the maximum rate permitted by law, if lower. Such interest shall accrue on a daily basis on the amount outstanding until payment is made
in full and shall be payable by Buyer forthwith on demand. 

  

	6.	NO SET-OFF OR DEDUCTION 

  

	6.1	All amounts due under the Agreement (including demurrage owed by Buyer under the Agreement) shall be paid in full by Buyer without set-off or deduction. 

  

	7.	TAXES 

  

	7.1	The price for Product delivered hereunder does not include any sales, use or value added tax, customs duty, federal, provincial, state or municipal tax or any other taxes, charges,
tariffs or duties of whatever sort levied or which may be levied by any governmental or taxing authority (“Taxes”) upon the purchase, import, delivery, consumption or use of the Product. Buyer agrees to be responsible for the
payment of such Taxes together with any penalties, fines, additions to tax, interest or other charges thereon and to indemnify Seller from liability in respect of such Taxes. Such obligation shall survive termination of this Agreement and shall
continue in force until discharged in full. 

  

	8.	WARRANTIES, LIMITATION OF LIABILITY AND INSURANCE 

  

	8.1	AT THE POINT WHERE RISK IN THE PRODUCT PASSES, AS DESCRIBED IN THE COMMERCIAL TERMS OR OTHERWISE IN SECTION 3 ABOVE, SELLER WARRANTS TO BUYER THAT: I) IT HAS GOOD TITLE TO THE
PRODUCT SOLD HEREUNDER; II) THE PRODUCT SOLD HEREUNDER CONFORMS TO THE SPECIFICATIONS DESCRIBED IN SCHEDULE “A”; AND III) THE PRODUCTION OF THE PRODUCT BY SELLER OR SALE OF THE PRODUCT HEREUNDER WILL NOT INFRINGE ANY PATENT COVERING THE
PRODUCT. BUYER MAY NOT PASS ON THE BENEFITS OF SUCH WARRANTIES TO ANY THIRD PARTY. 

  

	8.2	EXCEPT AS EXPRESSLY SET OUT IN THIS AGREEMENT, THERE ARE NO FURTHER REPRESENTATIONS, WARRANTIES OR CONDITIONS OF ANY KIND, WHETHER EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE
INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 

  

	8.3	THE LIABILITY OF SELLER, INCLUDING ITS AFFILIATES AND THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, REPRESENTATIVES OR AGENTS (COLLECTIVELY, “SELLER’S
REPRESENTATIVES”), AND THE SOLE REMEDY OF THE BUYER, FOR BREACH OF THE WARRANTIES DESCRIBED IN CLAUSE 8.1 IS LIMITED TO EITHER, AT THE OPTION OF SELLER, THE REPLACEMENT OF THE AFFECTED PRODUCT OR A REFUND OF THE AMOUNT PAID FOR SUCH
PRODUCT. SUCH REMEDY IS IN SUBSTITUTION FOR DAMAGES OR LOSSES TO WHICH BUYER MIGHT OTHERWISE BE ENTITLED AT LAW OR AT EQUITY AND, IN PARTICULAR, BUYER ACKNOWLEDGES THAT IN LIEU OF ANY ACTION FOR FUNDAMENTAL BREACH OF CONTRACT OR BREACH OF A
FUNDAMENTAL TERM OF THE COMMERCIAL TERMS, BUYER WILL RELY ON THE PROVISION OF THE WARRANTIES DESCRIBED IN SECTION 8.1 ABOVE. 

  

	8.4	NEITHER SELLER NOR ANY OF SELLER’S REPRESENTATIVES SHALL BE LIABLE TO BUYER OR ITS EMPLOYEES, REPRESENTATIVES OR AGENTS FOR ANY LOSSES, DAMAGES, COST, EXPENSES OR CLAIMS
(“LOSSES”) TO OR RESPECTING BUYER’S PHYSICAL PROPERTY, OR RESULTING FROM OR RELATED TO PERSONAL INJURY (INCLUDING DEATH) TO ANY PERSON, WHETHER OR NOT SUCH LOSSES ARISE OUT OF OR ARE CAUSED BY ANY ACT OR OMISSION, WHETHER
NEGLIGENT OR OTHERWISE OF SELLER OR ANY OF SELLER’S REPRESENTATIVES. 

  

	8.5	SELLER’S MAXIMUM LIABILITY IN RESPECT OF OR IN ANY MANNER ARISING OUT OF THIS AGREEMENT FOR ALL LOSSES, DAMAGES, OR LIABILITY WHATSOEVER AND HOWSOEVER ARISING (INCLUDING
NEGLIGENCE) SHALL NOT EXCEED AN AMOUNT EQUAL TO THE AMOUNT PAYABLE BY BUYER TO SELLER FOR THE SUPPLY OF PRODUCT HEREUNDER FOR THE ONE MONTH IMMEDIATELY PRECEDING THE DATE OF THE CLAIM. 

  

	8.6	NOTWITHSTANDING ANY OTHER TERM OF THIS AGREEMENT, NEITHER SELLER NOR ANY OF SELLER’S REPRESENTATIVE SHALL BE LIABLE FOR ANY CLAIM FOR ANY LOSS OF REVENUE, PRODUCTION, ACTUAL OR
ANTICIPATED PROFITS, CONTRACTS, BUSINESS, SAVINGS, ANTICIPATED SAVINGS, OPPORTUNITY, GOODWILL, REPUTATION OR ECONOMIC LOSSES OR FOR SPECIAL, INDIRECT OR CONSEQUENTIAL LOSSES OF ANY KIND WHATSOEVER AND HOWSOEVER ARISING. 

  

	8.7	Except as may be described in the Commercial Terms, Buyer shall, at its expense, procure suitable and adequate insurance cover of each individual shipment of the Methanol under the
Agreement from the time risk passes to Buyer in accordance with the Commercial Terms or Section 3 above, as the case may be. 

  

	9.	FORCE MAJEURE 

  

	9.1	 Neither party shall be liable in damages or otherwise for any failure or delay in performance of any obligations hereunder, other than the obligation to make
payment hereunder, where such failure or delay is caused by Force Majeure. The term “Force Majeure” shall mean any event, occurrence, or circumstance beyond the reasonable control of the 

  

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party claiming excuse, and provided such definition is met, may include, mechanical or electrical failure of plant, machinery or vessels (including the need
for Seller to undertake remedial work on plant or equipment to prevent an event that otherwise would have been a Force Majeure), accident to port facilities, failure or delay caused by or resulting from acts of God, strikes, fires, floods, wars
(whether declared or undeclared), riots, destruction of the product, perils of the seas, embargoes, accidents, interruption or cessation in the flow of gas (including, for the avoidance of doubt, any reduction in the supply of gas arising from a
loss of contractual entitlements due to a redetermination of reserves or otherwise), or voluntary or mandatory restrictions imposed by any government authority. A lack of funds or insolvency shall in no event constitute an event of Force Majeure.
Force Majeure affecting Seller’s supplier of gas, any other feedstock (including electricity) or, if applicable, methanol shall be deemed to be Force Majeure affecting Seller. 

  

	9.2	If either party fails to observe or perform any of the obligations imposed upon it under this Agreement and such failure shall have been as a consequence of Force Majeure, such
failure shall be deemed not to be a breach of this Agreement and the performance or observance of such obligation will be suspended during the continuation of the Force Majeure provided that the party claiming Force Majeure shall:

  

	 	a)	give written notice to the other party specifying full particulars of such Force Majeure as soon as is reasonably possible; 

  

	 	b)	as far as possible remedy the Force Majeure as soon as reasonably possible; and 

  

	 	c)	give written notice to the other party after the Force Majeure has been remedied as soon as reasonably possible. 

  

	9.3	Notwithstanding any other provision of this Agreement, a claim of Force Majeure shall not under any circumstances suspend the obligation of Buyer to make payment for any Product
delivered under this Agreement. 

  

	9.4	From date of notification of the Force Majeure, the affected party may, in its absolute discretion, by written notice to the other either: 

  

	 	(i)	cancel from the Agreement the quantities which have not been shipped due to Force Majeure, without affecting the balance of the Agreement, or 

  

	 	(ii)	ship such quantities after such Force Majeure has ended, on the same terms as set forth in the Agreement, where Seller is the affected party, or 

  

	 	(iii)	allocate its available supply of Methanol among all of its customers and itself in an equitable manner where Seller is the affected party. 

  

	9.5	Buyer shall not be excused from performing any of its obligations in respect of any shipment by the occurrence or notification to Seller of an event of Force Majeure after the time
that the Product is delivered to Buyer. 

  

	9.6	The party affected by the Force Majeure shall use all commercially reasonable endeavors to minimize the Force Majeure so that it may promptly perform its remaining obligations under
the Agreement. 

  

	10.	TERMINATION 

  

	10.1	Either party may, without prejudice to any other rights at law or in equity, terminate the Agreement forthwith at any time by written notice to the other party if:

  

	 	(i)	the primary, or all of the, business activities of the other party are permanently or indefinitely suspended; or 

  

	 	(ii)	the other party: 

  

	 	(A)	is, becomes, or is deemed or presumed to be, insolvent, unable to pay its debts as they fall due or bankrupt; or 

  

	 	(B)	makes an assignment for the benefit of, or enters into or makes any arrangements, composition or compromise with, its creditors; or 

  

	 	(C)	has an administrator, receiver, trustee, manager, statutory manager or similar official appointed in respect of all or any of its property; or 

  

	 	(D)	avails itself of laws for the protection of debtors; or 

  

	 	(E)	suffers any analogous events in any jurisdiction; or 

  

	 	(iii)	any resolution is passed, or any proceeding is commenced, for the other party’s winding up or liquidation; or 

  

	 	(iv)	the other party breaches any of its material obligations under the Agreement and any such breach, if capable of remedy, shall remain unremedied for a period of 20 business days
after written notice by the party not in breach, to the party in breach, requiring the breach to be remedied. 

  

	10.2	The termination of the Agreement shall not, of itself, relieve a party of due performance by such party of any obligation assumed by or imposed on it under the Agreement at any time
prior to such termination provided that Seller shall not be required to deliver or ship any Methanol to Buyer, and Buyer shall not be obligated to purchase or accept any Methanol pursuant to the Agreement after the date of termination.

  

	 11.
	 RESPONSIBLE CARE® 

  

	11.1	 Each of Buyer and Seller shall comply with all of the principles and codes of practice of the Responsible 

  

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Care® initiative as established by the Canadian Chemical Producers Association (or other relevant body such as American Chemistry Council). 

  

	 11.2
	 Either party may conduct assessments of the other in accordance with Responsible Care®. The parties hereto shall meet and cooperate in using reasonable efforts to take corrective actions where required.

  

	12.	CONFIDENTIALITY 

  

	12.1	Except for information which: i) is already known by a party; or ii) is in the public domain; or iii) is required to be disclosed by law; or iv) either party has authorized the
other, in writing, to disclose; all information regarding the parties, their operations and this Agreement including its terms shall be kept strictly confidential. This provision shall survive the termination of the Agreement.

  

	13.	MISCELLANEOUS 

  

	13.1	This Agreement sets forth the entire agreement and understanding between the parties hereto in respect of the subject matter of this Agreement and this Agreement supersedes all
previous discussions, negotiations and agreements (whether oral or written) which shall cease to have any further force or effect. It is agreed by the parties hereto that: 

  

	 	(a)	no party has entered into this Agreement in reliance upon any representation, warranty, condition or undertaking of any other party that is not expressly set out or referred to in
this Agreement; 

  

	 	(b)	no party will have any claim or remedy in respect of misrepresentation (whether negligent or otherwise, and whether made prior to, and/or in, this Agreement) or untrue statement
made by any other party; 

  

	 	(c)	save as expressly set out in this Agreement, no party shall owe any duty of care, nor have any liability in tort or otherwise, to any other party in respect of, arising out of, or
in any way relating to this Agreement; and 

  

	 	(d)	this Section 13.1 shall not exclude any liability for, or remedy in respect of, fraudulent misrepresentation save that any claim for fraudulent misrepresentation shall be
subject to the limitation of liability provided for in Section 8.6 above. 

  

	13.2	Each party’s right to require strict performance of the obligations of the other party under this Agreement shall not be extinguished or impaired by the waiver of any default
under this Agreement unless such waiver is in writing and is signed by a duly authorized representative of the waiving party, and no such waiver shall affect the rights of the waiving party with respect to any other or future defaults, whether
similar or not. 

  

	13.3	Each shipment under this Agreement shall be a separate and independent transaction. 

  

	13.4	Neither party may assign this Agreement without the prior written consent of the other party, which consent shall not be unreasonably withheld provided, however, that Seller shall
be entitled to assign this Agreement in whole or in part to one of its affiliated companies. 

  

	13.5	This Agreement shall be binding upon and inure to the benefit of each of the parties hereto and their respective permitted assigns. 

  

	13.6	The parties expressly agree that this Agreement contains the sole and exclusive remedies of the parties and that the full extent of the parties’ liabilities are as contained
herein. 

  

	13.7	Nothing in this Agreement constitutes Buyer as a partner or agent of Seller and Buyer has no authority to represent, bind, act for, undertake or create any obligation or
responsibility on behalf of, or in the name of, Seller or represent that it is the agent of Seller unless expressly agreed in writing by Seller. 

  

	13.8	To the extent that any term or condition of the Agreement is in whole or in part unenforceable or void, that term or condition shall be severed from the remaining terms and
conditions which shall apply and be enforceable as though the severed term or condition had not been included in the Agreement. 

  

	13.9	This Agreement may be executed in two or more counterparts each of which shall be deemed an original but all of which together shall constitute one and the same instrument and a
facsimile evidence of execution by any party to the Agreement shall be sufficient proof of execution. 

  

	14.	LAWS 

  

	14.1	Each party shall comply with all applicable laws, regulations, by-laws or ordinances arising in connection with the matters described in this Agreement. This Agreement and the
rights and obligations of the parties under this Agreement, shall be subjected to all present and future laws, regulations, orders, permits, licenses and authorisations of any government, governmental body or public authority having jurisdiction.

  

	14.2	The construction validity and performance of the Agreement shall be governed by the laws of Texas. 

  

	15.	ARBITRATION 

  

	15.1	All disputes arising in connection with the Methanol Sales Agreement, including in determining the price of any shipment, shall be finally settled under the Rules of Conciliation
and Arbitration of the International Chamber of Commerce in accordance with such rules and the following principles: 

  

	 	(a)	 Unless the parties to the dispute otherwise agree in writing, any arbitration shall be conducted in English, before one arbitrator, 

  

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and in [relevant jurisdiction]; 

  

	 	(b)	Each party to the dispute shall be entitled to call one or more expert witnesses nominated by it to give evidence (whether oral or in writing, at the election of the arbitrators);

  

	 	(c)	Each party shall make all necessary advances of costs, and generally shall act in such manner as shall facilitate the expeditious commencement and conduct of the arbitration and the
issue of the arbitral award. 

  

	 	(d)	The award rendered by the arbitrators shall be final and binding on the parties concerned. 

  

	16.	NOTICES 

  

	16.1	All notices or other communications required or permitted to be given or made under the Agreement shall be in writing and delivered to the address and facsimile number set out on
the first page of the Agreement, provided the transmitting machine demonstrates a satisfactory transmission. Any notice or other communication shall be deemed to have been duly given immediately (if given or made by confirmed facsimile), or 5
business days after posting (if given or made by letter addressed to a location within the country in which it is posted), or 10 business days after mailing (if given or made by letter addressed to a location outside the country in which it is
posted) provided notices received after 5 pm on a business day shall be deemed to be received on the next following business day. Any party may change its address or facsimile number to which notices or communications are given or made provided such
party promptly informs the other well in advance of any change of address and facsimile which may impede the sending and receiving of notices. 

  

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