Document:

exv10w19

Exhibit 10.19

			
	 	 	 
	STATE OF LOUISIANA
	 	STATE OF MASSACHUSETTS
	 	 	 
	PARISH OF EAST CARROLL
	 	COUNTY OF PLYMOUTH

LEASE

     BE IT KNOWN, that on the dates, at the places, and before the Notaries Public, and witnesses
hereinafter named and undersigned, personally came and appeared:

LAKE PROVIDENCE PORT COMMISSION, a political subdivision of the State of
Louisiana, with permanent mailing address at 409 Port Road, Lake Providence,
LA 71254, herein appearing by and through its President, James A. Thom, IV,
duly authorized hereto by resolution of said Commission, a certified copy of
which is attached hereto; hereinafter sometimes referred to as “LESSOR”,

and

BIONOL, LLC, a limited liability company organized in the State of
Louisiana, with its principal place of business at 420 Port Road, Lake
Providence, LA 71254 and mailing address of 99 Longwater Circle, Norwell, MA
02061, acting through its Manager, Stephen J. Gatto, who is duly authorized
hereto as evidenced by the certificate attached hereto, hereinafter
sometimes referred to as “LESSEE”,

who declared that they have and do, by this act and these presents enter into the following Lease:

1. LEASE; TERM; RENEWAL; PURPOSE

     Lessor does, by these presents, hereby lease, rent and let unto said Lessee, who does, by
these presents, hereby hire, lease and take, under the terms and conditions and subject to the
provisions hereinafter stipulated and detailed, the property and improvements described on Exhibit
A attached hereto (“Leased Premises”); however, in no event shall the Leased Premises include any
improvements paid for with funds received by Lessor from the Louisiana Department of Transportation
and Development.

     The primary term (“Primary Term”) of this Lease is for a period commencing on December 23,
2005, which is the effective date hereof and continuing 20 years from the date of completion of
construction of the Facility (as defined below); provided that Lessor may terminate this Lease in
its sole discretion on the first anniversary of the date hereof if Lessee has not closed
construction financing for the Facility by such date.

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     Provided that Lessor has not terminated this Lease in accordance with the previous paragraph
and that Lessee shall not be in uncorrected default of this Lease at the end of the Primary Term of
this Lease, Lessee shall have two (2) options to extend the Lease for two (2) additional terms of
ten (1(1) years each (the “Initial Extended Terms”) and thereafter shall have an option to extend
the Lease for a term equal to the remaining useful life of the Facility (the “Secondary Extended
Term”).

     The purpose of this Lease, and the right of Lessee to use and occupy the Leased Premises, is
for operation of an ethanol production facility (the “Facility”) and for such other related
business purposes in which Lessee shall engage.

2. RENTAL PAYMENTS

     This Lease is made for and in consideration of the covenants herein contained and the
obligation of Lessee to pay Lessor an annual rental of Five Hundred Dollars ($500.00) per year
during the term of this Lease.

     All Lease payments provided for hereunder shall be subordinated to payments due to debt
lenders during the term of this Lease. In addition, all rental payments pursuant to this section
shall be due and payable annually in advance, with the first such payment required to be made
‘within five (5) business days after the execution of this Lease, and with each subsequent annual
rental payment being required to be made on the anniversary of the date of this Lease.

3. INSURANCE

     Lessee shall carry the following insurance and name Lessor as an additional insured thereon:
(i) commercial broad form insurance on the improvements on the property in an amount of not less
than the replacement cost thereof; (ii) comprehensive general liability insurance with limits in
the amount of no less than $1,000,000.00 for all injuries, death and property damage arising from
any one occurrence on the Leased Premises, and (iii) excess limits comprehensive general liability
insurance coverage to the extent of $2,000,000.00 for all injuries, death and property damage
occurring on the Leased Premises.

     Lessee further agrees to and shall carry insurance covering Lessee’s liability as an employer
under the Worker’s Compensation Law of the State of Louisiana, together with any and all insurance
coverage necessary to fully protect Lessor from claims arising from the conduct of Lessee s
operation upon the Leased Premises resulting from various maritime statutes and

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laws of the United States of America, including particularly, but not by way of limitation,
the Longshoremen and Harbor Worker’s act, if applicable.

     Lessee shall promptly pay, when due, any and all insurance premiums, and should Lessee fail to
pay promptly and punctually any said premiums, Lessor may pay same and recover repayment thereof at
once from Lessee with interest at the prime rate as published in the Wall Street Journal or
comparable financial publication from date of payment of such premium by Lessor. Nothing herein
contained, however, shall be construed as making it obligatory on Lessor to, itself, insure said
property.

     All insurance shall be carried with good, solvent and reputable companies. Lessee shall
furnish to Lessor certificates evidencing such insurance coverage.

4. LIABILITY OF LESSEE AND LESSOR; INDEMNITY

     Both Lessee and Lessor hereby assume responsibility for and agree to protect, indemnify, keep
safe and hold harmless the other party against all accidents, claims, loss, costs, expenses or
damages arising out of any matter, thing, accident or other occurrence causing injury to any person
or property, which results from the negligent acts or omissions of either Lessee or Lessor, its or
their agents, and/or employees; provided however, neither Lessee nor Lessor shall be responsible
for any loss or damage occasioned by Acts of God, and any act, omission or negligence of the other
party.

     Lessor will not be responsible to Lessee or any third party for any damage to person or
persons holding or occupying under or employed by Lessee, or due to any acts of commission or
omission of Lessee.

     Lessor will not be responsible to Lessee or any third party for any damage to person or
property, however occasioned, during this Lease arising from Lessee’s failure to repair or maintain
the Leased Premises as herein provided. Lessee hereby agrees to save, indemnify and hold Lessor
harmless from any and all such claims by or any liability to Lessee or third persons, arising from
any act, omission and negligence of Lessee, its agents and/or employees in the occupancy,
maintenance and/or operation of Leased Premises, including particularly, but not by way of
limitation, any such liability which may result from the Lessee failing to maintain and keep the
Leased Premises in repair as may be required by the Lease.

     Lessor and Lessee agree to comply with all laws of the United States and the State of
Louisiana and all local laws in regards to the ownership, operation, maintenance and use of the

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Leased Premises, and each shall be responsible for its own failure to comply with such law.
Each will continue to comply with the obligations placed on each of them by subsequent laws or any
EPA guidelines relative to the Leased Premises. Lessor and Lessee shall neither be responsible for
any clean-up for spills and the like to meet government requirements unless same was attributable
to the fault or responsibility of same.

     Lessor has provided Lessee with a “Phase I” environmental audit. If such environmental audit
reveals any condition by which, in Lessee’s reasonable judgment, indicates the presence of
Hazardous Materials or a violation of Environmental Laws on or about the Leased Premises or if its
findings are in any way unacceptable to Lessee in its reasonable discretion, Lessee may obtain a
“Phase II” environmental audit at its expense, which shall be in all respects satisfactory to
Lessee. If Lessee is dissatisfied with the “Phase II” environmental audit, Lessee may, at its sole
discretion, terminate its obligation under this Lease and the terms and provisions of this Lease
(and the rights and obligations of the parties hereto with respect to this Lease) shall thereupon
be null and void and of no further force or effect.

     Lessee does hereby assume responsibility for the condition of the Leased Premises to the full
extent permitted by La. R. S. 9:3221.

5. LESSOR’S WARRANTY

     It is understood that title to the Leased Premises is vested in the State of Louisiana, but
Lessor warrants that it has the legal power and authority and is authorized to lease the Leased
Premises to Lessee under all terms and conditions herein contained.

     Provided Lessee fulfills all terms, conditions and all covenants of this Lease to be performed
by Lessee, and provided that Lessee is not in default of same, then Lessor guarantees Lessee quiet
and peaceful enjoyment and possession of the Leased Premises during the Primary Term of this Lease
and any extensions thereof.

     To the best of Lessor’s knowledge, after diligent inquiry, the Leased Premises has never been
used for any activities which, directly or indirectly, involved the use, generation, treatment,
storage, transportation or disposal of any Hazardous Materials, except storage and sale of items in
the ordinary course of Lessor’s businesses. To the best of Lessor’s knowledge, after diligent
inquiry, no Hazardous Materials exist now, and no Hazardous Materials will hereafter exist, on or
under the Leased Premises, or adjacent parcels of real estate or in any surface waters or
groundwaters on or under the Leased Premises or adjacent parcels of real estate. To the best of

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Lessor’s knowledge, after diligent inquiry, the Leased Premises and its existing and prior
uses have at all times complied with, in all material respects, and will comply with all applicable
Environmental Laws, and Lessor has not violated and will not violate any Environmental Laws.

6. MAINTENANCE AND REPAIR

     Lessor obligates itself to deliver the Leased Premises and the property set forth in “Exhibit
A” to Lessee, at the institution of this Lease, in a thoroughly sanitary and first class tenantable
condition; nevertheless, Lessee, by accepting delivery of Leased Premises and the property set
forth in ‘Exhibit A”, warrants that Lessee has made a careful and thorough visual inspection of
same and has found no circumstance or condition violative of Lessor’s said obligation. Lessee
agrees to make no demand, whatever, upon Lessor for any action, maintenance or repair arising out
of the condition of the Leased Premises and the property set forth in “Exhibit A” at the
institution of this Lease which were or should have been discovered during Lessee’s inspection
aforesaid.

     Lessee agrees to repair and maintain the Leased Premises and the property set forth in
“Exhibit A” at its own expense, during the term of this Lease, in substantially the same condition
and like good order, ordinary wear and tear excepted, as the Leased Premises are in at the
inception hereof and to return said Leased Premises, in such condition at the termination of this
Lease, ordinary wear and tear excepted.

7. LESSOR’S RIGHT OF ENTRY

     Lessor shall have the right at all times to enter the Leased Premises for the purpose of
making inspections or making repairs or improvements (Lessor shall consult with Lessee as to any
proposed repairs or improvements and obtain the consent of the Lessee in writing prior to
undertaking any such actions) on the Leased Premises, so long as such activities do not
inordinately interfere with, hinder or harm the operations of Lessee.

8. LESSEE’S COMPLIANCE WITH LAWS

     Lessee agrees to comply, at its own cost and expense, with all laws now existing or hereafter
enacted, including, but not limited to, all sanitary laws and ordinances, all rules and
requirements of the State Board of Health and all other Federal. State (including the Lake
Providence Port Commission), Parish and Municipal requirements affecting the use, operation and
cleanliness of the Leased Premises, all environmental laws, rules, and regulations

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promulgated by any local, Parish, State or Federal legislative, administrative or regulatory
body and shall comply with all rules and regulations of any local board of any authorized
organizations of fire underwriters and of any State authorities relating to the safeguarding
against fires and shall in every other regard, use and occupy the Leased Premises in accordance
with all applicable rules and regulations of any Federal, State, Parish or Municipal governmental
authorities to include, particularly, but not by way of limitation, all laws of the United States
of America and the State of Louisiana, (Social Security, unemployment insurance, excise taxes,
etc.) relating to the operation of business enterprises.

     No rules promulgated by Lessor shall interfere with the rights and obligations of the parties
hereunder, nor shall such rules be unreasonable or unduly restrictive to Lessee.

9. UTILITIES

     Lessor agrees that it will, during the Primary Term and all renewals or extensions of this
Lease, make and keep available, or cause to be made and kept available, up to the Port Road at the
Leased Premises, gas, water, electricity, and waste water discharge facilities and sewers in
sufficient supply and capability to meet the needs of Lessee, and which comply with the
requirements of Louisiana State Fire Rating and Prevention Bureau, the laws of the State of
Louisiana, etc.

     Lessee agrees to pay all charges for water, waste water, gas, electricity, light, heat or
power, telephone or other services used, rendered or supplied to or for Lessee upon or in
connection with any of the Leased Premises when due.

10. ALTERATIONS AND ADDITIONS

     Lessee shall have the right to add on or to install in or on the Leased Premises, at Lessee’s
expense, any equipment, machinery, fixtures, appurtenances, appliances, coverings or other objects
that Lessee may desire, and such additions and/or installations shall be the property of Lessee.
Lessee shall have the right, but is under no obligation to remove, at Lessee’s option and expense,
at any time prior to or upon the termination of this Lease, all such equipment, machinery,
fixtures, appurtenances, appliances, coverings or other improvements placed in or on the Leased
Premises by Lessee: PROVIDED: that such installation and alterations made: (1 ) do not
diminish the value of the Leased Premises; (2) do not materially impede, interfere with, or detract
from the harmonious operation of the Port area AND FURTHER PROVIDED: that

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upon any removal, Lessee shall restore the Leased Premises to substantially the same condition
as exists at the time of execution of this Lease, ordinary wear and tear excepted.

     Lessee may, at its own expense, make any and all minor alterations to any of the existing
Leased Premises that it may deem necessary or advisable, but any major structural change in the
existing Leased Premises, shall first have the approval of Lessor in writing, which will not be
unreasonably withheld or delayed.

     Lessee may, at its own expense, build any addition to any Leased Premises, or an,, separate
building, for the purpose of expanding its operation or business provided that such buildings do
not diminish the value of the Leased Premises. In the event that such additions or new buildings
are erected, Lessee may, at any time, and at its option, remove such additions or buildings from
the Leased Premises, provided that any damage to such Leased Premises resulting from such removal
shall be repaired by Lessee at its own expense and the Leased Premises restored to substantially
the same condition as exists at the time of execution of this Lease, ordinary wear and tear
excepted. Other than properties paid for by grant money, ownership and title to such additions and
improvements to the Leased Premises shall vest with Lessee and the Lessee’s lenders shall be
entitled to a first and senior lien thereon.

     Anything expressed to the contrary herein below notwithstanding, under no provision of this
Lease is the Lessee authorized to do any act which shall in any way encumber the title of the
Lessor in and to said Leased Premises or structural improvements placed by Lessor thereon, and the
interest of Lessor therein shall be in no way subject to any claim against Lessee by way of lien or
encumbrance, whether claimed by operation of law or by virtue of any expressed or implied contract
with Lessee, and any claim to a lien upon said Leased Premises or improvements thereon by Lessor
arising from any act or omission of Lessee, shall accrue only against the Lessee’s right or
interest, whatever they may be and shall in all respects be subject to the paramount title and
rights of Lessor in and to the said Leased Premises.

     Lessee’s rights of removal of any building or improvement, as set forth herein, shall be
exercised by Lessee within thirty (30) days from and after the termination of this Lease. Should
Lessee fail to remove any such improvement and restore the Leased Premises within thirty (30) days
after the termination of this Lease. Lessor may, at its sole and exclusive option, either (1)
cause such improvement, addition or building to be removed from Lessor’s property at the

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expense of Lessee, or (2) retain any such improvement, addition or building and unencumbered
fee simple title to same shall immediately vest in Lessor.

11. DEFAULTS; ACCELERATION; LIQUIDATED DAMAGES

     Neither Lessor nor Lessee shall be considered in default as to any obligation or condition of
this Lease, and the Lease shall not be considered as violated in any way unless the status claimed
to be a default or violation shall continue for thirty (30) days after written notice thereof is
posted by certified mail to Lessor or Lessee, as the case may be, at the addresses stipulated
herein below. Monetary defaults must be cured by paying all amounts properly due, including any
penalties and interest, within the thirty (30) days after the notice is given. Non-monetary
defaults may be cured by the good faith commencement of activity needed to cure within the thirty
(30) day period and diligently continuing such activities until cure is completed.

     Should Lessee be in uncorrected default after the time stipulated in Lessor’s written notice
of default, as immediately hereinabove provided, the rentals for the current year plus one year
shall, without putting Lessor in further default, at once become due and eligible, and in such
event, Lessor shall have the option either at once to demand such rentals or to immediately cancel
this Lease; in the event of the exercise of either option by Lessor, Lessee expressly waives being
further placed in default under the laws of the State of Louisiana. It is expressly understood by
Lessor that any lender to Lessee shall receive notice of any defaults, have the right to cure such
defaults, and/or to otherwise assume Lessee’s rights and obligations under this Lease including,
without limitation: (i) the right to comply with the Lease, (ii) operate or contract with third
parties to operate the Facility, (iii) to accept assignment this Lease in conjunction with the sale
of the Facility to a third party, or (iv) to dismantle and sell any improvements to the Leased
Premises.

     Each condition, provision or obligation hereof is essential to this Lease and any breach of
such condition, provision or obligation shall be considered a default with the parties having the
rights in such events as otherwise provided herein.

     The failure by Lessor to strictly and promptly enforce any condition or obligation herein
stipulated shall not operate as a waiver of Lessor’s rights, Lessor expressly reserving the right
to always enforce prompt payment of rent or to cancel this Lease regardless of any indulgences or
extensions previously granted. Failure to comply with any condition or obligation of this Lease
will make Lessee liable for any loss or damage sustained by Lessor.

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     At the expiration of this Lease or its termination for other causes, Lessee is obligated to
surrender possession within thirty (30) days of such expiration or termination, and should Lessee
fail to do so, Lessee consents to pay as liquidated damages two times the per diem rent for each
day that Lessee fails to surrender possession, with attorney’s fees, costs, etc.

     Should Lessor allow Lessee to remain in the Leased Premises after the expiration of this
Lease, this shall not be construed as a re-conduction of this Lease.

12. ASSIGNABILITY OF LEASE; SUB-LEASE

     Lessee shall have the unfettered right to assign or mortgage this Lease or Lessee’s rights
herein to (i) affiliates, subsidiaries or parents, (ii) Lessee’s lenders in connection with any
financing requiring the mortgage, pledge, encumbering, or assignment of the Lease, (iii) a third
party with credit worthiness at least equivalent to that of Lessee in conjunction with a sale of
the Facility, or (iv) a third party with credit worthiness at least equivalent to that of Lessee in
conjunction with a change in control of Lessee or its affiliates, subsidiaries or parents.
Otherwise, Lessee shall not have the right to, and agrees that it will not sublet the Leased
Premises and/or sell, transfer or assign this Lease, in whole or in part, or the rights herein
granted or any part thereof; or give or grant to anyone the use, possession or occupancy of any
portion of the Leased Premises for any purpose without the written consent of Lessor, which consent
shall not be unreasonably withheld, and any attempt on the part of Lessee, whether completed or
not, to violate the agreement contained in this Part, shall give the Lessor the right and option to
instantly cancel this Lease without putting Lessee in default.

13. DISPOSAL OF WASTE; UPKEEP OF LEASED FACILITY

     It is understood that Lessee’s proposed business, or any other operation or enterprise of
Lessee, shall be conducted so as to keep and maintain the Leased Premises in such a manner so as to
be conducive with the general harmonious operations of the port area, and, specifically, to so
upkeep the Leased Premises as to prevent the accumulation of any unsightly debris or waste
products, and to prevent the occurrence of any noxious odors.

14. ATTORNEY’S FEES

     Lessee agrees to pay all costs of collection, including reasonable attorney’s fees, if all or
any part of the rent stipulated herein is collected after maturity with the aid of an attorney. In
the

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event of litigation to enforce the terms and conditions of this Lease, the losing party shall
pay the other party’s attorney’s fees, which shall be reasonable.

15. EXCLUSIONS

     Should Lessee be prevented from operating the Leased Premises from causes due directly or
indirectly from hostile or warlike action at a time of peace and war, including any action in
hindering, combating or defending actual, impending or expected attack, any riot or civil
commotion, governmental condemnation or prohibition not related to the fault of Lessee, nuclear
holocaust, tornado, flood or other force majeure or act of God, or should same cause Lessee to be
in default of Lessee’s obligations hereunder, then and in that event, Lessee’s obligations under
this Lease shall be suspended during the period that such occurrences prevent Lessee’s operation
and/or cause Lessee to be in default of its obligations hereunder.

     Should Lessee be prevented from operating the Leased Premises from causes due directly or
indirectly from strikes or labor disputes not involving Lessee’s employees, or should such
occurrences cause Lessee to be in default of Lessee’s obligation hereunder, then and in that event.
Lessor shall not be entitled to Lessor’s remedy in the event of default of Lessee as provided in
Part 11 hereinabove, and to this extent, Lessee’s obligations under this Lease shall be considered
as suspended during the period that such causes prevent Lessee’s operation of Leased Premises
and/or causes Lessee to be in default of its obligations hereunder.

     It is understood that Lessee’s obligations herein provided shall again accrue in favor of
Lessor immediately upon the cessation of any such causes. Any such suspension shall not extend the
Primary Term or any extension of this Lease.

16. RIGHTS OF OTHERS UNDER LAW

     Other than as set forth in Article 12, nothing expressed or implied herein is intended, nor
shall be construed, in any way or for any reason, whatsoever, to confer upon or to give to any
person, firm or corporation, other than the parties signatory hereto, any rights or remedies by
reason of or arising out of this Lease.

17. AGREEMENT TO BE BOUND BY CONTRACT

     This Lease shall be binding not only upon the parties hereto, but also upon their successors
or assigns, and the parties hereto agree, for them and their successors or assigns, to

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execute any instruments and to perform any acts which may be necessary or proper to carry out
the purposes of this Lease.

18. PARAGRAPH HEADINGS

     All headings set forth in this Lease are intended for convenience only, and shall not control
or affect the meaning, construction or effect of this Lease or any of the provisions hereof.

19. STATE LAW GOVERNING

     This Lease shall be governed, interpreted and enforced by, under and in accordance with the
laws of the State of Louisiana.

     Except as herein expressly stipulated and provided for, Lessor and Lessee do each reserve and
stipulate unto themselves any and all rights and entitlements and commensurate obligations provided
for and accorded to each of them under the laws of the State of Louisiana.

20. NOTICES

     Any notices set forth or required herein may be delivered by certified mail, return receipt
requested, to Lessor or Lessee, as the case may be, addressed as follows:

	 	 	 	 	 	 	 

	 

	 	LESSOR:
	 	 	 	Lake Providence Port Commission
	 

	 	 	 	 	 	409 Port Road
	 

	 	 	 	 	 	Lake Providence, Louisiana 71254-9801
	 
	 	 	 	 	 	 
	 

	 	LESSEE:
	 	 	 	BIONOL, LLC
	 

	 	 	 	 	 	99 Longwater Circle
	 

	 	 	 	 	 	Norwell, MA 02061

21. ACCEPTANCE

     The parties hereto hereby accept this Lease in all its parts and clauses, and agree that this
writing covers the entire agreement existing between the parties hereto and that no contemporaneous
or subsequent agreement entered into with reference to this Lease and operating agreement, by the
parties hereto, shall be binding upon any party hereto unless reduced to writing and signed by
Lessor and Lessee.

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THUS DONE AND SIGNED at Lake Providence, East Carroll Parish, Louisiana, on the 23rd day of
December, 2005, in the presence of me, Notary, and the two competent and attesting witnesses,
signing the same officially and affixing hereunto my seal of office, after a due reading of the
whole.

	 	 	 	 	 	 	 	 	 

	WITNESSES:	 	 	 	LESSOR:	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Wyly Gilfoil	 	 	 	LAKE PROVIDENCE PORT COMMISSION	 	 
	 

Printed Name: Wyly Gilfoil

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Francis Lensing

	 	 	 	BY:
	 	/s/ James A. Thom, IV	 	 
	 

Printed Name: Francis Lensing

	 	 	 	 	 	 

JAMES A. THOM, IV,
	 	 
	 

	 	 	 	 	 	President	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Alane E. Frith
	 	 	 	 	 	 	 	 
	 

                    NOTARY PUBLIC

	 	 	 	 	 	 	 	 
	Printed Name: Alane E. Frith
	 	 	 	 	 	 	 	 
	Notary/Bar Roll No.: 052744
	 	 	 	 	 	 	 	 

THUS DONE AND SIGNED at 99 Longwater Circle, Norwell, Plymouth County, Massachusetts, on the 27th
day of December, 2005, in the presence of me, Notary, and the two competent and attesting
witnesses, signing the same officially and affixing hereunto my seal of office, after a due reading
of the whole.

	 	 	 	 	 	 	 	 	 

	WITNESSES:	 	 	 	LESSEE::	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Stacy Dunn	 	 	 	BIONOL, LLC	 	 
	 

Printed Name: Stacy Dunn

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Ronald Davis

	 	 	 	BY:
	 	/s/ Stephen J. Gatto	 	 
	 

Printed Name: Ronald Davis

	 	 	 	 	 	 

STEPHEN J. GATTO,
	 	 
	 

	 	 	 	 	 	Manager	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Stacy Cox
	 	 	 	 	 	 	 	 
	 

     NOTARY PUBLIC

	 	 	 	 	 	 	 	 
	Printed Name: Stacy Cox
	 	 	 	 	 	 	 	 
	Commission Expires January 26, 2012
	 	 	 	 	 	 	 	 

 

 

CERTIFIED COPY OF RESOLUTION OF THE BOARD OF COMMISSIONERS

OF

LAKE PROVIDENCE PORT COMMISSION

          Upon motion duly made, seconded and unanimously adopted, it was:

          RESOLVED that James A. Thom, IV, President of this commission be and he is hereby empowered,
authorized and directed on behalf of and in the name of this commission to enter into a Lease with
Bionol, LLC for the terms set forth in Articles I and 2 of said Lease. The Leased Premises are
described on Exhibit A attached hereto.

          BE IT FURTHER RESOLVED that James A. Thom, IV, President be and he is hereby expressly
empowered to execute the Lease, and do all things and execute any and all other documents as may be
necessary to fully carry out the above and foregoing.

CERTIFICATE

          The undersigned Secretary hereby certifies that the above and foregoing is a true, correct and
exact copy of a resolution adopted by the Board of Commissioners of Lake Providence Port Commission
at a meeting held on December 21, 2005, after due notice, and at which a quorum was present and
voting, and that said resolution has not been altered, amended or rescinded since its adoption.

          Lake Providence, Louisiana, this 23rd day of December, 2005.

	 	 	 	 	 
	 	 	 
	 	                                                  /s/ Francis Lensing
 	 
	 	SECRETARY 	 
	 	 	 

 

 

	 	 	 	 	 

EXHIBIT A

BRYANT HAMMETT AND ASSOCIATES, L.L.C.

Engineering, and Land Surveys

Ferriday, Louisiana 71334

	 	 	 	 	 

	EAST CARROLL PARISH, LOUISIANA

	 	GWC
	 	12/21/2005
	PROPERTY DESCRIPTION FILE 5162

	 	WM
	 	12/21/2005

Repaired for: Port of Lake Providence

A 38.0 acre tract being on area of existing hydraulic fill and portions of levees which retained
the hydraulic fill situated in Sections 3&4, T20N-R13E, East Carroll Parish, Louisiana and being
more particularly described as follows;

Commence at the northwest corner of Section 63, T20N-R13E; thence S48°53’01“E 5029.20 feet to the
POINT OF BENNING of herein described tract: thence along the outside (southerly) edge of a
previously constructed hydraulic till area N56°56’50“E 982.38 feet; thence along the outside edge
of the crown of a recently constructed hydraulic fill retainer levee the following bearings and
distances;

	 	 	 	 	 

	 

	 	S38°23’10“E
	 	790.0 feet
	 

	 	S50°18’10“E
	 	690.0 feet
	 

	 	S41°46’17“W
	 	895.2 feet
	 

	 	N69°32’35“W
	 	355.0 feet
	 

	 	N56°32’35“W
	 	415.0 feet
	 

	 	N41°52’50“W
	 	400.0 feet
	 

	 	N29°13’10“W
	 	620.0 feet

To the POINT OF BENNING.

and containing 38.0 acres more or less

Said property being subject to all right-of-ways, servitudes, and easements recorded in the records
of East Canal Parish, Louisiana; all unrecorded legal servitudes including those established
through use and/or maintenance.

 

 

EXTRACT OF LEASE

	 	 	 

	LESSOR:

	 	LAKE PROVIDENCE PORT COMMISSION
	 
	 	 
	LESSEE:

	 	BIONOL, LLC
	 
	 	 
	DATE:

	 	December 23, 2005

LEASE: That certain Lease by and between Lessor and Lessee dated
December 23, 2005 (as the same may be extended, renewed, modified,
amended or restated from time to time, the “Lease”).

	 	 	 

	DESCRIPTION OF PROPERTY:

	 	See Exhibit A attached hereto.

TERM: The primary term (“Primary Term”) of the Lease is for a
period commencing on December 23, 2005 and continuing 20 years from
the date of completion of construction of the Facility (as defined
in the Lease).

RENEWAL TERMS: Lessee shall have two (2) options to extend the
Lease for two (2) additional terms of ten (10) years each (“Initial
Extended Terms”) and thereafter for a term equal to the remaining
useful life of the Facility (“Secondary Extended Term”).

          The undersigned do hereby agree that the foregoing is an Extract of a Lease entered into by
them and executed on the 23rd day of December, 2005.

	 	 	 	 	 
	 	LAKE PROVIDENCE PORT COMMISSION

 	 
	 	BY:  	 /s/ James A. Thom, IV 	 
	 	 	 	JAMES A. THOM, IV, President 	 
	 	 	 
	 
	 	BIONOL, LLC

 	 
	 	BY:  	/s/ Stephen J. Gatto
 	 
	 	 	 	STEPHEN J. GATTO, Manager 	 
	 	 	 

 

 

	 	 	 	 	 

Addendum to Lease

     BE IT KNOWN, that on the dates, at the places, and before the Notaries Public, and witnesses
hereinafter named and undersigned, personally came and appeared:

LAKE PROVIDENCE PORT COMMISSION, a political subdivision of the State of
Louisiana, with permanent mailing address at 409 Port Road, Lake Providence,
LA 71254, herein appearing by and through its President, James A. Thom, IV;
hereinafter sometimes referred to as “LESSOR”,

and

BIONOL LAKE PROVIDENCE, LLC, a limited liability company organized in the
State of Louisiana, with its principal place of business at 420 Port Road,
Lake Providence, LA 71254 and mailing address of 99 Longwater Circle,
Norwell, MA 02061, acting through its Manager, Stephen J. Gatto, hereinafter
sometimes referred to as “LESSEE”,

1. Lessor has an existing loan dated December 15, 2005 with a fixed interest rate of 6.75% in the
original principal amount of One Million Dollars ($1,00,000.00), and the existing principal balance
is approximately Eight Hundred Fifty-Six Thousand Dollars ($856,000.00) (“Existing Loan”). The
Existing Loan was used to construct improvements on the Leased Premises for the benefit of Lessee

2. Lessor and Lessee entered into that certain Lease dated February 26, 2008 (“Lease”). Lessor and
Lessee hereby agree that as further consideration of entering into the Lease, as so long as the
Lease does not terminate pursuant to Section 2 of the Lease, Lessee shall pay Lessor an amount
equal to the interest on the debt service for the Existing Loan, on the following basis:

     i) Within five (5) days of execution of the Lease, Lessee shall pay to Lessor the full amount
of interest previously paid by Lessor on the Existing Loan.

     ii) Lessee shall pay ninety (90) days in advance all interest due on the debt service for the
Existing Loan through the Commencement Date.

3. All terms not defined herein shall have the meanings as set forth in the Lease.

Signature Pages to Follow

 

 

THUS DONE AND SIGNED at Lake Providence, East Carroll Parish, Louisiana, on the 11th day of March,
2008, in the presence of me, Notary, and the two competent and attesting witnesses, signing the
same officially and affixing hereunto my seal of office, after a due reading of the whole.

	 	 	 	 	 	 	 	 	 

	WITNESSES:	 	 	 	LESSEE::	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Selinda Jarnevic	 	 	 	LAKE PROVIDENCE PORT COMMISSION	 	 
	 

Printed Name: Selinda Jarnevic

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Elizabeth Cunningham
 

	 	 	 	BY:
	 	/s/ James A. Thom, IV
 

	 	 
	Printed Name: Elizabeth Cunningham

	 	 	 	 	 	JAMES A. THOM, IV,	 	 
	 

	 	 	 	 	 	President	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Debra P. Fortenberry
 

                    NOTARY PUBLIC

	 	 	 	 	 	 	 	 
	Printed Name: Debra P. Fortenberry
	 	 	 	 	 	 	 	 
	Notary/Bar Roll No.: 10782
	 	 	 	 	 	 	 	 

 

 

THUS DONE AND SIGNED at Norwell, Plymouth, County, Massachusetts, on the 11th day of March 2008, in
the presence of me, Notary, and the two competent and attesting witnesses, signing the same
officially and affixing hereunto my seal of office, after a due reading of the whole.

	 	 	 	 	 	 	 	 	 	 	 

	WITNESSES:	 	 	 	 	 	LESSEE::	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	BIONOL LAKE PROVIDENCE, LLC	 	 
	 	 	 	 	 	 	 	 	 
	Printed Name:
	 	 	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	BY:
	 	/s/ Stephen J. Gatto	 	 
	 	 	 	 	 	 	 	 	 
	Printed Name:

	 	 	 	 	 	 	 	STEPHEN J. GATTO,	 	 
	 

	 	 

	 	 	 	 	 	Manager	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	/s/ Stacy Cox	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	

           NOTARY PUBLIC	 	 	 	 	 	 	 	 
	Printed Name: Stacy Cox	 	 	 	 	 	 	 	 
	Commission Expires January 26, 2012exv10w23

Exhibit 10.23

INDEMNITY AGREEMENT

     This Indemnity Agreement, dated as of _________________, 2011, is made by and between Myriant
Technologies, Inc., a Delaware corporation (the “Company”), and ___________________ (the
“Indemnitee”).

RECITALS

     A. The Company and the Indemnitee recognize the substantial increase in corporate litigation
in general, subjecting directors, officers, employees and other agents to expensive litigation
risks at the same time as the availability and coverage of liability insurance has been severely
limited;

     B. The Company desires to attract and retain the services of talented and experienced
individuals, such as the Indemnitee, to serve as directors, officers, employees and agents of the
Company and its Subsidiaries and wishes to indemnify its directors, officers, employees and other
agents to the maximum extent permitted by law;

     C. Section 145 of the General Corporation Law of Delaware, under which the Company is
organized (“Section 145”), empowers the Company to indemnify its directors, officers,
employees and agents by agreement and to indemnify persons who serve, at the request of the
Company, as the directors, officers, employees or agents of other corporations or enterprises, and
expressly provides that the indemnification provided by Section 145 is not exclusive; and

     D. In order to induce the Indemnitee to serve or continue to serve as a director, officer,
employee or agent of the Company and/or one or more Subsidiaries of the Company free from undue
concern for claims for damages arising out of or related to such services to the Company and/or one
or more Subsidiaries of the Company, the Company has determined and agreed to enter into this
Agreement with the Indemnitee.

AGREEMENT

     NOW, THEREFORE, the Indemnitee and the Company hereby agree as follows:

     1. Definitions. As used in this Agreement:

          (a) “Agent” means any person who is or was a director, officer, employee or other
agent of the Company or a Subsidiary of the Company; or is or was serving at the request of, for
the convenience of, or to represent the interests of the Company or a Subsidiary of the Company as
a director, officer, employee or agent of another foreign or domestic corporation,
partnership, joint venture, trust or other enterprise; or was a director, officer, employee or
agent of a foreign or domestic corporation which was a predecessor corporation of the Company or a
Subsidiary of the Company, or was a director, officer, employee or agent of another enterprise at
the request of, for the convenience of, or to represent the interests of such predecessor
corporation.

 

 

          (b) “Board” means the Board of Directors of the Company.

          (c) “Change in Control” shall be deemed to have occurred if (i) any “person,” as such
term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), other than a trustee or other fiduciary holding securities under an
employee benefit plan of the Company or a corporation owned directly or indirectly by the
stockholders of the Company in substantially the same proportions as their ownership of stock of
the Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange
Act), directly or indirectly, of securities of the Company representing 20% or more of the total
voting power represented by the Company’s then outstanding voting securities, (ii) during any
period of two consecutive years, individuals who at the beginning of such period constituted the
Board, together with any new directors whose election by the Board or nomination for election by
the Company’s stockholders was approved by a vote of at least two-thirds of the directors then
still in office who either were directors at the beginning of the period or whose election or
nomination was previously so approved, cease for any reason to constitute a majority of the Board,
(iii) the stockholders of the Company approve a merger or consolidation or a sale of all or
substantially all of the Company’s assets with or to another entity, other than a merger,
consolidation or asset sale that would result in the holders of the Company’s outstanding voting
securities immediately prior thereto continuing to represent (either by remaining outstanding or by
being converted into voting securities of the surviving entity) at least a majority of the total
voting power represented by the voting securities of the Company or such surviving or successor
entity outstanding immediately thereafter, or (iv) the stockholders of the Company approve a plan
of complete liquidation of the Company.

          (d) “Expenses” shall include all out-of-pocket costs of any type or nature whatsoever
(including, without limitation, all reasonable attorneys’ fees, fees of experts, witness fees and
related disbursements), actually and reasonably incurred by the Indemnitee in connection with
either the investigation, defense or appeal of a Proceeding or establishing or enforcing a right to
indemnification under this Agreement, or Section 145 or otherwise; provided, however, that
“Expenses” shall not include any ERISA excise taxes or penalties, or amounts paid in settlement of
a Proceeding or the amount of judgments or fines against the Indemnitee.

          (e) “Independent Counsel” means a law firm, or a partner (or, if applicable, member)
of such a law firm, that is experienced in matters of corporation law and neither currently is, nor
in the past five years has been, retained to represent: (i) the Company or the Indemnitee in any
matter material to either such party or (ii) any other party to or witness in the Proceeding giving
rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term
“Independent Counsel” shall not include any person who, under the applicable standards of
professional conduct then prevailing, would have a conflict of interest in representing either
the Company or the Indemnitee in an action to determine the Indemnitee’s rights under this
Agreement.

          (f) “Proceeding” means any threatened, pending or completed action, suit, arbitration,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other
actual, threatened or completed proceeding, whether brought by or in the right of the Company or
otherwise and whether civil, criminal, administrative, or investigative, in which

2

 

Indemnitee was,
is or will be involved as a party or otherwise, by reason of his or her corporate status, by reason
of any action taken by him or her or of any inaction on his or her part while acting in his or her
corporate status; in each case whether or not he or she is acting or serving in any such capacity
at the time any liability or expense is incurred for which indemnification can be provided under
this Agreement; including one pending on or before the date of this Agreement, but excluding one
initiated by an Indemnitee pursuant to Section 6 of this Agreement to enforce his or her rights
under this Agreement.

          (g) “Subsidiary” means any corporation of which more than 50% of the outstanding
voting securities is owned directly or indirectly by the Company, by the Company and one or more
other Subsidiaries, or by one or more other Subsidiaries.

     2. Agreement to Serve. The Indemnitee agrees to serve and/or continue to serve as an
Agent of the Company, at its will (or under separate agreement, if such agreement exists), in the
capacity the Indemnitee currently serves as an Agent of the Company, so long as the Indemnitee is
duly appointed or elected and qualified in accordance with the applicable provisions of the Bylaws
of the Company or any Subsidiary of the Company or until such time as the Indemnitee tenders his or
her resignation in writing; provided, however, that nothing contained in this Agreement is intended
to create any right to continued employment by the Indemnitee.

     3. Liability Insurance.

          (a) Maintenance of D&O Insurance. The Company hereby covenants and agrees that, so
long as the Indemnitee shall continue to serve as an Agent of the Company and thereafter so long as
the Indemnitee shall be subject to any possible Proceeding by reason of the fact that the
Indemnitee was an Agent of the Company, the Company shall promptly obtain and maintain in full
force and effect directors’ and officers’ liability insurance (“D&O Insurance”) in
reasonable amounts from established and reputable insurers, as more fully described below.

          (b) Rights and Benefits. In all policies of D&O Insurance, the Indemnitee shall
qualify as an insured in such a manner as to provide the Indemnitee the same rights and benefits as
are accorded to the most favorably insured of the Company’s independent directors (as defined by
the insurer) if the Indemnitee is such an independent director; of the Company’s non-independent
directors if the Indemnitee is not an independent director; of the Company’s officers if the
Indemnitee is an officer of the Company; or of the Company’s key employees, if the Indemnitee is
not a director or officer but is a key employee.

          (c) Limitation on Required Maintenance of D&O Insurance. Notwithstanding the
foregoing, the Company shall have no obligation to obtain or maintain D&O Insurance if the
Company determines in good faith that: such insurance is not reasonably available; the premium
costs for such insurance are disproportionate to the amount of coverage provided; the coverage
provided by such insurance is limited by exclusions so as to provide an insufficient benefit; the
Indemnitee is covered by similar insurance maintained by a Subsidiary of the Company; the Company
is to be acquired and a tail policy of reasonable terms and duration is purchased for pre-closing
acts or omissions by the Indemnitee; or the Company is to be acquired and D&O

3

 

Insurance will be
maintained by the acquirer that covers pre-closing acts and omissions by the Indemnitee.

     4. Mandatory Indemnification. Subject to the terms of this Agreement:

          (a) Third Party Actions. If the Indemnitee is a person who was or is a party or is
threatened to be made a party to any Proceeding (other than an action by or in the right of the
Company) by reason of the fact that the Indemnitee is or was an Agent of the Company, or by reason
of anything done or not done by the Indemnitee in any such capacity, the Company shall indemnify
the Indemnitee against all Expenses and liabilities of any type whatsoever (including, but not
limited to, ERISA excise taxes and penalties, amounts paid in settlement of a Proceeding and the
amount of judgments or fines against the Indemnitee) actually and reasonably incurred by the
Indemnitee in connection with the investigation, defense, settlement or appeal of such Proceeding,
provided the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to
be in or not opposed to the best interests of the Company, and, with respect to any criminal action
or Proceeding, had no reasonable cause to believe his or her conduct was unlawful.

          (b) Derivative Actions. If the Indemnitee is a person who was or is a party or is
threatened to be made a party to any Proceeding by or in the right of the Company by reason of the
fact that the Indemnitee is or was an Agent of the Company, or by reason of anything done or not
done by the Indemnitee in any such capacity, the Company shall indemnify the Indemnitee against all
Expenses actually and reasonably incurred by the Indemnitee in connection with the investigation,
defense, settlement or appeal of such Proceeding, provided the Indemnitee acted in good faith and
in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the
Company; except that no indemnification under this Section 4(b) shall be made in respect to any
claim, issue or matter as to which the Indemnitee shall have been finally adjudged to be liable to
the Company by a court of competent jurisdiction unless and only to the extent that the Delaware
Court of Chancery or the court in which such Proceeding was brought shall determine upon
application that, despite the adjudication of liability but in view of all the circumstances of the
case, the Indemnitee is fairly and reasonably entitled to indemnity for such amounts which the
Delaware Court of Chancery or such other court shall deem proper.

          (c) Actions where Indemnitee is Deceased. If the Indemnitee is a person who was or is
a party or is threatened to be made a party to any Proceeding by reason of the fact that the
Indemnitee is or was an Agent of the Company, or by reason of anything done or not done by the
Indemnitee in any such capacity, and if, prior to, during the pendency of or after completion of
such Proceeding the Indemnitee is deceased, the Company shall indemnify the Indemnitee’s heirs,
executors and administrators against all Expenses and liabilities of any type whatsoever to the
extent the Indemnitee would have been entitled to indemnification pursuant to this Agreement were
the Indemnitee still alive.

          (d) Certain Terminations. The termination of any Proceeding or of any claim, issue,
or matter therein by judgment, order, settlement, or conviction, or upon a plea of nolo
contendere or its equivalent, shall not (except as otherwise expressly provided in this
Agreement) of itself create a presumption that the Indemnitee did not act in good faith and in a
manner which the Indemnitee reasonably believed to be in or not opposed to the best interests of

4

 

the Company or, with respect to any criminal action or Proceeding, that the Indemnitee had
reasonable cause to believe that the Indemnitee’s conduct was unlawful.

          (e) Indemnification for Expenses of a Witness. To the extent that the Indemnitee is,
by reason of his or her status as an Agent of the Company, a witness in any Proceeding to which the
Indemnitee is not a party, the Indemnitee shall be indemnified to the extent permitted by
applicable law against all Expenses actually and reasonably incurred by the Indemnitee or on the
Indemnitee’s behalf in connection therewith.

          (f) Limitations. Notwithstanding the foregoing, the Company shall not be obligated to
indemnify the Indemnitee for Expenses or liabilities of any type whatsoever for which payment is
actually made to or on behalf of the Indemnitee under an insurance policy, or under a valid and
enforceable indemnity clause, by-law or agreement.

     5. Indemnification for Expenses in a Proceeding in Which the Indemnitee is Wholly or
Partly Successful.

          (a) Successful Defense. Notwithstanding any other provisions of this Agreement, to
the extent the Indemnitee has been successful, on the merits or otherwise, in defense of any
Proceeding (including, without limitation, an action by or in the right of the Company) in which
the Indemnitee was a party by reason of the fact that the Indemnitee is or was an Agent of the
Company at any time, the Company shall indemnify the Indemnitee against all Expenses actually and
reasonably incurred by or on behalf of the Indemnitee in connection with the investigation, defense
or appeal of such Proceeding.

          (b) Partially Successful Defense. Notwithstanding any other provisions of this
Agreement, to the extent that the Indemnitee is a party to or a participant in any Proceeding
(including, without limitation, an action by or in the right of the Company) in which the
Indemnitee was a party by reason of the fact that the Indemnitee is or was an Agent of the Company
at any time and is successful, on the merits or otherwise, as to one or more but less than all
claims, issues or matters in such Proceeding, the Company shall indemnify the Indemnitee against
all Expenses actually and reasonably incurred by or on behalf of the Indemnitee in connection with
each successfully resolved claim, issue or matter.

          (c) Dismissal. For purposes of this section and without limitation, the termination
of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall
be deemed to be a successful result as to such claim, issue or matter.

     6. Mandatory Advancement of Expenses. Subject to the terms of this Agreement and
following notice pursuant to Section 7(a) below, the Company shall advance all Expenses reasonably
incurred by the Indemnitee in connection with the investigation, defense, settlement or appeal of
any Proceeding to which the Indemnitee is a party or is threatened to be made a
party by reason of the fact that the Indemnitee is or was an Agent of the Company (unless
there has been a final determination that the Indemnitee is not entitled to indemnification for
such Expenses) upon receipt of (i) an undertaking by or on behalf of the Indemnitee to repay the
amount advanced in the event that it shall ultimately be determined that the Indemnitee is not
entitled to indemnification by the Company and (ii) satisfactory documentation supporting such

5

 

Expenses. Such advances are intended to be an obligation of the Company to the Indemnitee
hereunder and shall in no event be deemed to be a personal loan. The advances to be made hereunder
shall be paid by the Company to the Indemnitee within twenty (20) days following delivery of a
written request therefor by the Indemnitee to the Company. In the event that the Company fails to
pay Expenses as incurred by the Indemnitee as required by this paragraph, the Indemnitee may seek
mandatory equitable relief from any court having jurisdiction to require the Company to pay
Expenses as set forth in this paragraph. If the Indemnitee seeks mandatory equitable relief
pursuant to this paragraph, it shall not be a defense to enforcement of the Company’s obligations
set forth in this paragraph that the Indemnitee has an adequate remedy at law for damages.

     This Section 6 shall not apply to the extent that advancement is prohibited by law and shall
not apply to any Proceeding for which indemnity is not permitted under this Agreement. The
Indemnitee shall not enter into any settlement in connection with a Proceeding (or any part
thereof) without ten (10) days’ prior written notice to the Company.

     The Company shall not settle any Proceeding (or any part thereof) without the Indemnitee’s
prior written consent, which shall not be unreasonably withheld.

     7. Notice and Other Indemnification Procedures.

          (a) Notice by Indemnitee. Promptly after receipt by the Indemnitee of notice of the
commencement of or the threat of commencement of any Proceeding, the Indemnitee shall, if the
Indemnitee believes that indemnification with respect thereto may be sought from the Company under
this Agreement, notify the Company in writing of the commencement or threat of commencement
thereof; provided, however, that failure of the Indemnitee to provide such notice will not relieve
the Company of its liability hereunder if the Company receives notice of such Proceeding from any
other source.

          (b) Insurance. If the Company receives notice pursuant to Section 7(a) hereof of the
commencement of a Proceeding that may be covered under D&O Insurance then in effect, the Company
shall give prompt notice of the commencement of such Proceeding to the insurers in accordance with
the procedures set forth in the respective policies. The Company shall thereafter take all
necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all
amounts payable as a result of such Proceeding in accordance with the terms of such policies.

          (c) Defense. In the event the Company shall be obligated to pay the Expenses of any
Proceeding against the Indemnitee, the Indemnitee shall be entitled to assume the defense of such
Proceeding, with counsel selected by the Indemnitee and approved by the Company (which approval
shall not be unreasonably withheld), upon the delivery to the Company of written notice of its
election so to do. After delivery of such notice, and the retention of such
counsel by the Indemnitee, the Company will reimburse the Indemnitee for any fees of counsel
subsequently incurred by the Indemnitee with respect to the Proceeding, provided that the Company
shall have the right to employ its own counsel in any such

6

 

Proceeding at the Company’s expense. In
the event that the Indemnitee does not assume the defense of such Proceeding, the Indemnitee shall
have the right to employ his or her own counsel in any such Proceeding at the Company’s expense if
(A) the Company has authorized the employment of counsel by the Indemnitee at the expense of the
Company, (B) the Indemnitee shall have reasonably concluded that there may be a conflict of
interest between the Company and the Indemnitee in the conduct of any such defense, (C) after a
Change in Control not approved by a majority of the members of the Board who were directors
immediately prior to such Change in Control, the employment of counsel by Indemnitee has been
approved by Independent Counsel, or (D) the Company shall not, in fact, have employed counsel to
assume the defense of such Proceeding.

          (d) Information. The Indemnitee shall give the Company such information and
cooperation in connection with the Proceeding as may be reasonably appropriate.

     8. Right to Indemnification.

          (a) Right to Indemnification. In the event that Section 5(a) is inapplicable, the
Company shall indemnify the Indemnitee pursuant to this Agreement unless, and except to the extent
that, it shall have been determined by one of the methods listed in Section 8(b) that the
Indemnitee has not met the applicable standard of conduct required to entitle the Indemnitee to
such indemnification.

          (b) Determination of Right to Indemnification. A determination of the Indemnitee’s
right to indemnification hereunder shall be made at the election of the Board by (i) a majority
vote of directors who are not parties to the Proceeding for which indemnification is being sought,
even though less than a quorum, or by a committee consisting of directors who are not parties to
the Proceeding for which indemnification is being sought, who, even though less than a quorum, have
been designated by a majority vote of the disinterested directors, or (ii) if there are no such
disinterested directors or if the disinterested directors so direct, by an Independent Counsel in a
written opinion to the Board, a copy of which shall be delivered to the Indemnitee, or (iii) by the
stockholders of the Company, or (iv) by a panel of three arbitrators, one of whom is selected by
the Company, one of whom is selected by the Indemnitee and the last of whom is selected by the
first two arbitrators so selected; provided, however, that, following any Change in Control not
approved by a majority of the members of the Board who were directors immediately prior to such
Change in Control, such determination shall be made by an Independent Counsel as specified in
clause (ii) above or by a panel of arbitrators as specified in clause (iv) above.

          (c) Submission for Decision. As soon as practicable, and in no event later than
thirty (30) days after the Indemnitee’s written request for indemnification, the Board shall select
the method for determining the Indemnitee’s right to indemnification. The Indemnitee shall
cooperate with the person or persons or entity making such determination with respect to the
Indemnitee’s right to indemnification, including providing to such person, persons or entity upon
reasonable advance request any documentation or information which is not privileged or
otherwise protected from disclosure and which is reasonably available to the Indemnitee and
reasonably necessary to such determination. Any Independent Counsel, member of the Board or
stockholder of the Company shall act reasonably and in good faith in making a determination
regarding the Indemnitee’s entitlement to indemnification under this Agreement.

7

 

          (d) Application to Court. If (i) the claim for indemnification or advancement of
Expenses is denied, in whole or in part, (ii) no disposition of such claim is made by the Company
within ninety (90) days after the request therefor, (iii) the advancement of Expenses is not timely
made pursuant to Section 6 of this Agreement or (iv) payment of indemnification is not made
pursuant to Section 5 of this Agreement, the Indemnitee shall have the right to apply to the
Delaware Court of Chancery, the court in which the Proceeding is or was pending or any other court
of competent jurisdiction, for the purpose of enforcing the Indemnitee’s right to indemnification
(including the advancement of Expenses) pursuant to this Agreement.

          (e) Expenses Related to the Enforcement or Interpretation of this Agreement. The
Company shall indemnify the Indemnitee against all reasonable Expenses incurred by the Indemnitee
in connection with any hearing or Proceeding under this Section 8 involving the Indemnitee and
against all reasonable Expenses incurred by the Indemnitee in connection with any other Proceeding
between the Company and the Indemnitee involving the interpretation or enforcement of the rights of
the Indemnitee under this Agreement, unless a court of competent jurisdiction finds that each of
the claims and/or defenses of the Indemnitee in any such Proceeding was frivolous or made in bad
faith.

     9. Exceptions. Any other provision herein to the contrary notwithstanding, the
Company shall not be obligated:

          (a) Claims Initiated by Indemnitee. To indemnify or advance Expenses to the
Indemnitee with respect to Proceedings or claims initiated or brought voluntarily by the Indemnitee
and not by way of defense, with a reasonable allocation where appropriate, unless (i) such
indemnification is expressly required to be made by law, (ii) the Proceeding was authorized by the
Board, (iii) such indemnification is provided by the Company, in its sole discretion, pursuant to
the powers vested in the Company under the General Corporation Law of Delaware or (iv) the
Proceeding is brought to establish or enforce a right to indemnification under this Agreement or
any other statute or law or otherwise as required under Section 145 in advance of a final
determination;

          (b) Lack of Good Faith. To indemnify the Indemnitee for any Expenses incurred by the
Indemnitee with respect to any Proceeding instituted by the Indemnitee to enforce or interpret this
Agreement, if a court of competent jurisdiction determines that each of the material assertions
made by the Indemnitee in such Proceeding was not made in good faith or was frivolous;

          (c) Unauthorized Settlements. To indemnify the Indemnitee under this Agreement for
any amounts paid in settlement of a Proceeding or claim unless the Company consents to such
settlement, which consent shall not be unreasonably withheld;

          (d) Claims Under Section 16(b). To indemnify the Indemnitee for Expenses and the
payment of profits made from the purchase and sale (or sale and purchase) by the Indemnitee of
securities of the Company within the meaning of Section 16(b) of the Securities Exchange Act of
1934, as amended, or similar provisions of state statutory law or common law; or

8

 

          (e) Payments Contrary to Law. To indemnify or advance Expenses to the Indemnitee for
which payment is prohibited by applicable law.

     10. Non-Exclusivity. The provisions for indemnification and advancement of Expenses
set forth in this Agreement shall not be deemed exclusive of any other rights which the Indemnitee
may have under any provision of law, the Company’s Certificate of Incorporation or Bylaws, the vote
of the Company’s stockholders or disinterested directors, other agreements, or otherwise, both as
to action in the Indemnitee’s official capacity and as to action in another capacity while
occupying the Indemnitee’s position as an Agent of the Company.

     11. Permitted Defenses. It shall be a defense to any action for which a claim for
indemnification is made under this Agreement (other than an action brought to enforce a claim for
Expenses pursuant to Section 6 hereof, provided that the required undertaking has been tendered to
the Company) that the Indemnitee is not entitled to indemnification because of the limitations set
forth in Sections 4 and 9 hereof. Neither the failure of the Company (including its Board) or an
Independent Counsel to have made a determination prior to the commencement of such enforcement
action that indemnification of the Indemnitee is proper in the circumstances, nor an actual
determination by the Company (including its Board) or an Independent Counsel that such
indemnification is improper, shall be a defense to the action or create a presumption that the
Indemnitee is not entitled to indemnification under this Agreement or otherwise.

     12. Subrogation. In the event the Company is obligated to make a payment under this
Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of
recovery under an insurance policy or any other indemnity agreement covering the Indemnitee, who
shall execute all documents required and take all action that may be necessary to secure such
rights and to enable the Company effectively to bring suit to enforce such rights (provided that
the Company pays the Indemnitee’s costs and expenses of doing so), including without limitation by
assigning all such rights to the extent of such indemnification or advancement of Expenses.

     13. Primacy of Indemnification. The Company hereby acknowledges that the Indemnitee
may have certain rights to indemnification, advancement of expenses or liability insurance provided
by a third-party investor and certain of its affiliates (collectively, the “Fund
Indemnitors”). The Company hereby agrees that (i) it is the indemnitor of first resort, i.e.,
its obligations to the Indemnitee under this Agreement and any indemnity provisions set forth in
its Certificate of Incorporation, Bylaws or elsewhere (collectively, “Indemnity
Arrangements”) are primary, and any obligation of the Fund Indemnitors to advance expenses or
to provide indemnification for the same expenses or liabilities incurred by the Indemnitee is
secondary and excess, (ii) it shall advance the full amount of Expenses incurred by the Indemnitee
and shall be liable for the full amount of all Expenses, judgments, penalties, fines and amounts
paid in settlement by or on behalf of the Indemnitee, to the extent legally permitted and as
required by
any Indemnity Arrangement, without regard to any rights the Indemnitee may have against the
Fund Indemnitors, and (iii) it irrevocably waives, relinquishes and releases the Fund Indemnitors
from any claims against the Fund Indemnitors for contribution, subrogation or any other recovery of
any kind arising out of or relating to any Indemnity Arrangement. The Company further agrees that
no advancement or indemnification payment by any Fund Indemnitor on behalf of the Indemnitee shall
affect the foregoing, and the Fund Indemnitors shall be subrogated

9

 

to the extent of such
advancement or payment to all of the rights of recovery of the Indemnitee against the Company. The
Company and the Indemnitee agree that the Fund Indemnitors are express third party beneficiaries of
the terms of this Section 13.

     14. Survival of Rights.

          (a) Survival. All agreements and obligations of the Company contained herein shall
continue during the period the Indemnitee is an Agent of the Company and shall continue thereafter
so long as the Indemnitee shall be subject to any possible claim or threatened, pending or
completed Proceeding by reason of the fact that the Indemnitee was serving in the capacity referred
to herein. The Indemnitee’s rights hereunder shall continue after the Indemnitee has ceased acting
as an Agent of the Company and shall inure to the benefit of the heirs, executors and
administrators of the Indemnitee.

          (b) Successor to the Company. The Company shall require any successor to the Company
(whether direct or indirect, by purchase, merger, consolidation or otherwise) or to all or
substantially all of the business or assets of the Company, expressly to assume and agree to
perform this Agreement in the same manner and to the same extent that the Company would be required
to perform if no such succession had taken place.

     15. Interpretation of Agreement. It is understood that the parties hereto intend this
Agreement to be interpreted and enforced so as to provide indemnification to the Indemnitee to the
fullest extent permitted by law, including those circumstances in which indemnification would
otherwise be discretionary.

     16. Severability. If any provision or provisions of this Agreement shall be held to
be invalid, illegal or unenforceable for any reason whatsoever, (i) the validity, legality and
enforceability of the remaining provisions of the Agreement (including, without limitation, all
portions of any paragraphs of this Agreement containing any such provision held to be invalid,
illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in
any way be affected or impaired thereby, and (ii) to the fullest extent possible, the provisions of
this Agreement (including, without limitation, all portions of any paragraph of this Agreement
containing any such provision held to be invalid, illegal or unenforceable, that are not themselves
invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested
by the provision held invalid, illegal or unenforceable and to give effect to Section 14 hereof.

     17. Modification and Waiver. No supplement, modification or amendment of this
Agreement shall be binding unless it is in a writing signed by both of the parties hereto. No
waiver of any of the provisions of this Agreement shall be deemed to be or shall constitute a
waiver of any other provisions hereof (whether or not similar) nor shall any such waiver constitute
a continuing waiver.

     18. Notice. All notices, requests, demands and other communications under this
Agreement shall be in writing and shall be deemed to have been duly given (a) upon delivery if
delivered by hand to the party to whom such notice or other communication shall have been directed,
(b) if mailed by certified or registered mail with postage prepaid, return receipt requested, on
the third business day after the date on which it is so mailed, (c) one business day

10

 

after the
business day of deposit with a nationally recognized overnight delivery service, specifying next
day delivery, with written verification of receipt, or (d) on the same day as delivered by
confirmed facsimile transmission if delivered during business hours or on the next successive
business day if delivered by confirmed facsimile transmission after business hours. Addresses for
notice to either party shall be as shown on the signature page of this Agreement, or to such other
address as may have been furnished by either party in the manner set forth above.

     19. Governing Law. This Agreement shall be governed exclusively by and construed
according to the laws of the State of Delaware as applied to contracts between Delaware residents
entered into and to be performed entirely within Delaware. This Agreement is intended to be an
agreement of the type contemplated by Section 145(f) of the General Corporation Law of Delaware.

     20. Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall for all purposes be deemed to be an original but all of which together shall constitute
one and the same Agreement. Only one such counterpart signed by the party against whom enforcement
is sought needs to be produced to evidence the existence of this Agreement.

     21. Enforcement. The Company expressly confirms and agrees that it has entered into
this Agreement and assumed the obligations imposed on it hereby in order to induce the Indemnitee
to serve as an Agent of the Company, and the Company acknowledges that the Indemnitee is relying
upon this Agreement in serving as an Agent of the Company.

     22. Entire Agreement. This Agreement constitutes the entire agreement between the
parties hereto with respect to the subject matter hereof and supersedes all prior agreements and
undertakings, oral, written and implied, between the parties hereto with respect to the subject
matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the
Company’s certificate of incorporation and bylaws and applicable law.

     The parties hereto have entered into this Indemnity Agreement effective as of the date first
above written.

	 	 	 	 	 	 	 	 	 	 	 

	Indemnitee:	 	The Company:
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Myriant Technologies, Inc.
	 

	 

 
	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 	 	 
	 

	 	 	 	 	 
 	 	 	 	 
	 
	 	 	 	 	Title:
	 	 	 	 	 
	Address:
	 	 	 	 	 	 
 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 		 	 	 	 

11

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