Document:

Letter Agreement

 Exhibit 10.1 
 September 14, 2011 
 Serena Software, Inc. 

2755 Campus Drive, 3rd Floor 
 San Mateo, CA
94403 
  

	 	Re:	Advancement and Indemnification Rights 

Dear Sir/Madam: 
 In light of certain recent
court decisions concerning the advancement and indemnification rights of corporate directors and officers, including the indemnification rights of directors designated by sponsor shareholder investors, Silver Lake Group, L.L.C. (the
“Sponsor”) and Serena Software, Inc. (the “Company” or “Serena”) hereby enter into this Letter Agreement (the “Agreement”). Capitalized terms used but not otherwise defined herein
shall have the meanings set forth in Section 7. 
 This Agreement clarifies certain rights of (i) the Sponsor, (ii) any Sponsor
Affiliate or any persons or entities providing management, advisory, consulting or other services at the direction or request of the Sponsor or any Sponsor Affiliate, to or for the benefit of the Company or any successors or direct or indirect
parents or subsidiaries of the Company (collectively, “Serena Companies”), (iii) any investment fund formed or managed by the Sponsor or any Sponsor Affiliate or for which the Sponsor or any Sponsor Affiliate serves as an
investment adviser (a “Fund”); (iv) any direct or indirect general partner, managing member and/or controlling shareholder of any Fund; (v) any persons designated by the Sponsor, any Sponsor Affiliate or any Fund, to serve
as a director, officer, board observer, partner, trustee, fiduciary, manager, employee, consultant or advisor, or functional or foreign equivalent of the foregoing, to any of the Serena Companies (collectively, the “Sponsor
Designees”); and (vi) any direct or indirect partners (including general partners), shareholders, members (including managing members), affiliates, controlling persons, subsidiaries, directors, officers, fiduciaries, managers,
employees and agents of each of the foregoing (those persons and entities identified in (i), (ii), (iii), (iv), (v), and (vi) are herein collectively the “Indemnitees,” and each is individually an
“Indemnitee”), whether such right exists pursuant to any Organizational Document, Advisory Agreement or any other agreement or document. 
 It is the intent of the parties that (i) the Serena Companies are and shall be the indemnitor of first resort with respect to any matters for which advancement and indemnification are provided by the
Serena Companies to or on behalf of the Indemnitees, whether for claims and liabilities arising prior to or after the date of this Agreement and whether such claims or liabilities arise out of any act, statement or omission occurring prior to or
after the date of this Agreement, (ii) that 

 
the Serena Companies shall provide advancement and/or indemnification to each Indemnitee on a primary basis; and (iii) that any Indemnitee may be expected to seek advancement and/or
indemnification from any other potential source of advancement or indemnification (including without limitation from any other Indemnitee), or to seek insurance coverage from any insurance carrier providing coverage under any policy issued to any
Sponsor Affiliate, only if, and to the extent, that the Serena Companies are legally and/or financially unable to pay advancement and/or indemnification, as the case may be, to or on behalf of such Indemnitee. 

Accordingly, in consideration of the mutual promises and agreements herein contained, and other good and valuable consideration – including, without
limitation, the Sponsor’s agreement to provide management, advisory, consulting or other services to the Serena Companies and each Sponsor Designee’s agreement to serve as a director, officer, board observer, partner, trustee, fiduciary,
manager, employee, consultant, or advisor of the Serena Companies (or in any other capacity at the Serena Companies) – the receipt and sufficiency of which is hereby acknowledged, all parties intending to be legally bound hereby, the parties
hereby agree as follows: 
  

	1.	Indemnification; Insurance; Expenses. 

  

	 	a.	No Other or Further Changes. 

 Except as, and to the extent, specifically provided herein, any and all rights to advancement and/or indemnification to which each Indemnitee has ever been, is or may in the future be entitled from the
Serena Companies shall remain unchanged by this Agreement (“Indemnification Rights”). The parties acknowledge and agree that this Agreement is not intended to modify, reduce or expand any such Indemnification Rights. 

 

	 	b.	Company as Primary Indemnitor. 

 With regard to any Indemnification Rights that an Indemnitee may be entitled from the Serena Companies, each of the Serena Companies hereby agrees and acknowledges that (i) it is the indemnitor of
first resort; (ii) its obligations to each Indemnitee are primary, and any obligations of the Sponsor, any Sponsor Affiliate or any Fund or other Indemnitee to provide advancement or indemnification, or any insurance carrier providing coverage
under any insurance policy issued to any Sponsor Affiliate to provide coverage, for any damages, judgments, liabilities, assessments, fines, penalties, amounts paid in settlement, fees and costs (including attorneys fees and costs) or other losses
(herein “Losses”) incurred by Indemnitee and for which the Serena Companies have agreed to, or are otherwise obligated to, indemnify Indemnitee (whether under any Organizational Document, Advisory Agreement or any other agreement or
document) are secondary, and (iii) if the Sponsor, any Sponsor Affiliate or any Fund or other Indemnitee is obligated to pay, or pays or causes to be paid for any reason, any Losses which any of the Serena Companies is otherwise obligated
(whether under any Organizational Document, Advisory Agreement or other document or agreement) to pay (as advancement or indemnification) to or on behalf of Indemnitee, then (A) such Sponsor, Sponsor Affiliate, Fund or other Indemnitee, as the
case may be, shall be fully subrogated to and otherwise succeed to all rights of Indemnitee with respect to such payment; and (B) each of the Serena Companies shall jointly and severally reimburse, indemnify and hold harmless the

  
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Sponsor, Sponsor Affiliate, Fund or other Indemnitee, as the case may be, for all such payments actually made by such entity or person on behalf of or for the benefit of Indemnitee. 

 

	 	(c)	Director and Officer Insurance. 

 To the extent that the Serena Companies maintain an insurance policy or policies providing liability insurance for directors, officers, employees, or agents or fiduciaries of the Serena Companies, each
Indemnitee that is a natural person shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any director, officer, employee, agent or fiduciary under such policy or
policies. Notwithstanding the preceding to the contrary, if Serena maintains additional insurance coverage under any policy or policies of insurance for members of a special committee of its board of directors, then such additional coverage shall
not apply to an Indemnitee who is not a member of such special committee. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Serena has director and officer liability insurance in effect, Serena shall give
prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. Serena 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. Such insurance shall, in all events, be primary insurance coverage relative to any indemnification available to such Indemnitee from
any Sponsor Affiliate and shall, in all events, be primary insurance coverage relative to any other insurance coverage available to Indemnitee from any insuarance policy/ies providing coverage to any Sponsor Affiliate. 

 

	2.	Specific Waiver of Subrogation. 

 Each of the Serena Companies hereby unconditionally and irrevocably waives, relinquishes and releases, and covenants and agrees not to exercise (and to cause each affiliate of each of Serena Companies not
to exercise), any claims or rights that such Serena Company may now have or hereafter acquire against any Indemnitee (in any capacity), or against any insurance carrier providing coverage under any insurance policy issued to any Sponsor Affiliate,
that arise from or relate to the existence, payment, performance or enforcement of such Serena Company’s obligations under this Agreement or under any other indemnification agreement (whether pursuant to any other contract, any Organizational
Document, any Advisory Agreement or otherwise), including, without limitation, any right of subrogation, reimbursement, exoneration, contribution or indemnification and any right to participate in any claim or remedy of Indemnitee against any
Indemnitee, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without limitation, the right to claim, take or receive from any Indemnitee, directly or indirectly, in cash or other
property or by set-off or in any other manner, any payment or security or other credit support on account of such claim, remedy or right. 
  

	3.	Exculpation. 

 To the
maximum extent permitted by applicable law, and to the maximum extent permitted or authorized by any Organizational Document or other agreement or document, no Indemnitee who serves or has served as a director, officer, employee, agent or fiduciary
of any Serena 

  
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Company shall be liable to any Serena Company, or to any shareholder, member or partner (or equivalent) of any Serena Company or to any party bringing any action by, on behalf of or in the name
or right of any Serena Company, for any breach of fiduciary duty or other breach of duty. 
  

	4.	Amendment, Waiver, Choice of Law, Construction and Third-Party Beneficiaries. 

a. This Agreement may not be orally amended, modified, extended or terminated, nor shall any purported oral waiver of any of its
provisions be effective. This Agreement may be amended, modified, extended or terminated, and the provisions hereof may be waived only by a written agreement specifically identified as such and signed by the Sponsor, Holdings and the Company.

 b. An Indemnitee’s rights under this Agreement and an Indemnitee’s rights to advancement or indemnification from any
Serena Company pursuant to any agreement or document (including without limitation any Organizational Document or Advisory Agreement) governing Indemnitee’s rights to advancement and/or indemnification from any Serena Company may not be
limited, waived, eliminated or otherwise diminished or modified without the specific written consent of the Sponsor. The Sponsor may, within the Sponsor’s sole discretion, compromise, waive or relinquish any Indemnitee’s rights to
advancement or indemnification under any agreement or document (whether pursuant to any Organizational Document, Advisory Agreement or otherwise) governing Indemnitee’s rights to advancement and/or indemnification from any Serena Company.

 c. Nothing in this Agreement shall be construed to require the Sponsor, any Sponsor Affiliate or any other person or entity to
continue to provide management, advisory, consulting or other services, and nothing in this Agreement shall be construed to require any Sponsor Designee to continue to serve as a director, officer board observer, fiduciary, partner or manager (or in
any other capacity) of any Serena Company. Subject to the second sentence of Section 4(b), no Indemnitee’s rights hereunder shall be limited or impaired in any way in the event that such Indemnitee ceases, for any reason, to serve or
provide services to any Serena Company. 
 d. To the extent permitted by applicable choice of law principles, this Agreement and
the rights conferred under this Agreement shall be governed by the laws of the State of Delaware without regard to any other choice of law principles. 
 e. To the extent that a change in the laws of the State of Delaware (or other applicable law), whether by statute or judicial decision, permits greater indemnification rights or remedies than would be
afforded currently under (i) the relevant Serena Companies’ Organizational Documents, (ii) this Agreement or (iii) any other document providing advancement and/or indemnification to an Indemnitee, it is the intent of the parties
hereto that Indemnitee shall enjoy, by and as a result of this Agreement, the greater benefits so afforded by such change. 
 f.
No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or
in equity or otherwise, so long as such right or remedy does not conflict with any right or remedy provided hereunder. 

  
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The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy, so long as the assertion of such
right or remedy does not conflict with any right or remedy hereunder. 
 g. To the extent that any term or condition of this
Agreement conflicts with any term or condition under any other agreement or document to which any the Serena Company or Indemnitee is a party (whether pursuant to an Organizational Document, Advisory Agreement or any other agreement or document)
with respect to the subject matter of this Agreement, the terms and conditions of this Agreement shall control. Each Serena Company hereby waives the right to enforce any rights under such other agreement to the extent that such rights or remedies
conflict with any rights or remedies provided hereunder. 
 h. Subject to the second sentence of Section 4(b), each
Indemnitee shall, to the extent not a party hereunder, be considered an express third-party beneficiary hereunder and shall enjoy all rights that a party hereunder enjoys and shall enjoy such rights to the same extent as a party hereunder.

  

	5.	Severability. 

 If any
provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without
limitation, each portion of any section or subsection of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired
thereby; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the
provisions of this Agreement (including, without limitation, each portion of any section or subsection of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or
unenforceable) shall be construed so as to give effect to the intent manifested thereby. 
  

	6.	Counterparts. 

 This
Agreement may be executed in any number of counterparts and by each of the parties in separate counterparts, each of which when so executed will be deemed to be an original and all of which together will constitute one and the same instrument.

  

	7.	Definitions. 

 (a)
“Advisory Agreement” shall mean any advisory, management, monitoring or other similar or equivalent agreement. 

(b) “Organizational Document” shall mean an entity’s charter, by-laws, partnership agreement, limited liability
company agreement, operating agreement, indemnification agreement, or other similar or equivalent agreement or document. 
 (c)
“Sponsor Affiliate” shall mean any entity that, directly or indirectly, (i) is controlled by, (ii) controls or (iii) is under common control with, the Sponsor; provided, that, 

  
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under no circumstances shall any portfolio company of Sponsor (including any Serena Company be deemed a Sponsor Affiliate hereunder.) 

[Signature Page Immediately Follows.] 

  
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	Very truly yours,
		
		 	SILVER LAKE GROUP, L.L.C.
			
		 	By:	 	/s/ Karen M. King
		 	Name: 	 	Karen M. King
		 	Title:	 	Managing Director and Chief Legal Officer

 ACKNOWLEDGED AND AGREED TO as of the date of this letter. 

 

			
	SERENA SOFTWARE, INC.
		
	By:	 	/s/ Edward Malysz
		 	Name: Edward F. Malysz
		 	Title: SVP, General Counsel

  

SIGNATURE PAGE TO AGREEMENTStock Repurchase Agreement

 Exhibit 10.1 
 STOCK REPURCHASE AGREEMENT 
 THIS STOCK REPURCHASE AGREEMENT
(“Agreement”) is made and entered into as of the 9th day of September, 2011 by and between Greenstar North America Holdings Inc., a Delaware corporation (“Seller”), and Green Plains Renewable Energy, Inc., an Iowa
corporation (“Buyer”). 
 WHEREAS, Seller owns of record Eleven Million Two Hundred Twenty-Seven Thousand Six
Hundred Fifty-Three (11,227,653) shares of the common stock of Buyer; 
 WHEREAS, NTR plc, a public liability company
registered in the Republic of Ireland and the ultimate parent of Seller (“Parent”), is the beneficial owner of such shares of the common stock of Buyer; 
 WHEREAS, Seller desires to sell Three Million Five Hundred Thousand (3,500,000) shares (“Shares”) of the common stock of Buyer to Buyer, and Buyer desires to purchase the Shares from
Seller, on the terms and conditions hereinafter set forth (“Purchase”). 
 NOW THEREFORE, in consideration of
the foregoing and subject to the terms of this Agreement, Buyer and Seller agree as follows: 
 1. Transfer of Stock.
Subject to the terms and conditions set forth in this Agreement, Seller shall sell, assign, transfer and deliver the Shares to Buyer, free and clear of all security interests, encumbrances, mortgages, charges, liens, options and pledges of every
kind, and Buyer agrees to purchase the Shares from Seller, for the consideration specified in Section 3 hereof. 
 2.
Closing Date. The closing of the Purchase (the “Closing”) shall take place at the office of the Buyer on September 9, 2011 or such other date as Seller and Buyer may agree (the “Closing Date”).

 3. Purchase Price. The purchase price for each Share (the “Purchase Price”) shall be $8.00.

 4. Deliveries by Buyer and Seller. 

(a) On the Closing Date or as soon thereafter as practicable, Seller shall deliver the Shares to Buyer, through the
facilities of the Depository Trust Company or the Buyer’s transfer agent, Computershare, as the case may be, for Buyer’s account, with the signature guarantee and stock power in the form provided by the transfer agent, against payment by
Buyer of the Purchase Price therefore in accordance with Section 4(b). 
 (b) On September 16, 2011,
Buyer shall deliver to Seller 50% of the Purchase Price for the Shares, with the remaining 50% of the Purchase Price to be delivered on November 15, 2011; except that Buyer, in its sole discretion, may decide to delay the November 15
payment until December 15, 2011, in which case Buyer will also pay interest in an amount equal to 3% per annum, for the period from September 16 to 

  
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December 15, on the remaining 50% of the Purchase Price. All payments under this Section 4(b) shall be made by wire transfer to Seller pursuant to wire transfer instructions delivered
by Seller to Buyer at least three (3) days before the Closing Date. 
 (c) On September 16, 2011, Buyer
shall deliver to Seller a Promissory Note, in substantially the form attached hereto as Exhibit A and an Assignment and Pledge of Stock, in substantially the form attached hereto as Exhibit B. 

5. Representations and Warranties. 
 (a) Seller hereby makes the following representations and warranties to Buyer, each of which is true and correct on the date hereof, and each of which shall survive the Closing and the transactions
contemplated hereby: 
 (i) Title to Shares. Seller is the record owner, and Parent is the beneficial
owner, of the Shares. The Shares are free and clear of any security interests, claims, liens (including tax liens), pledges, penalties, charges, encumbrances, buy-sell agreements, rights-of-first refusal, or rights of others whatsoever. 

(ii) Status of Seller. Seller is a corporation duly organized, validly existing and in good standing under the laws
of Delaware and has the organizational power and authority to own and operate its business as now being conducted. 
 (iii) Authority and Binding Obligation. Seller has the requisite power and authority to enter into this Agreement and to consummate the transactions contemplated by this Agreement. The execution
and delivery of this Agreement by Seller and the consummation by Seller of the transactions contemplated by this Agreement have been duly authorized by the board of directors of Seller and no other action by Seller’s sole shareholder is
necessary to approve the Agreement and the transactions contemplated hereunder. This Agreement has been executed and delivered by Seller and constitutes a legal, valid and binding obligation of Seller enforceable against Seller in accordance with
its terms, except as enforceability thereof may be limited by creditors’ rights generally or by general principles of equity. 
 (iv) No Conflict or Violation. The execution and delivery of this Agreement by Seller does not, and the consummation of the transaction contemplated by this Agreement will not, (i) conflict
with, or result in any violation of, Seller’s organizational documents, or (ii) result in any violation or breach of, or default (with or without notice or lapse of time, or both) under, will give rise to a right of termination,
cancellation or acceleration of any obligation, or result in the creation of any lien upon the properties or assets of Seller under, any provision of any agreement, note, bond, mortgage, indenture, lease or other contractual obligation to which
Seller is a party or by which its properties and assets are bound. 

  
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 (v) Access to Information. Seller has been afforded (i) the
opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of Buyer concerning the terms and conditions of the purchase of the Shares; (ii) access to information about Buyer and its
subsidiaries and their respective financial condition, results of operations, business, properties, management and prospects, including Buyer’s filings with the Securities and Exchange Commission (“SEC”); and (iii) the
opportunity to obtain such additional information that Buyer possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the sale of the Shares. Seller acknowledges that
the Chief Executive Officer of Parent is a member of Buyer’s board of directors and is familiar with Buyer’s operations and financial condition. 
 (vi) Independent Investment Decision. Seller has independently evaluated the merits of its decision to sell the Shares to Buyer pursuant to this Agreement, and confirms that it has not relied on
the advice of Buyer or any of Buyer’s advisors. 
 (vii) Brokers or Finders. Seller has not incurred
any obligation or liability, contingent or otherwise, for any brokerage or finder’s fee, agent’s commission or other similar payment in connection with the transactions contemplated by this Agreement. 

(b) Buyer hereby makes the following representations and warranties to Seller, each of which is true and correct on the
date hereof, and each of which shall survive the Closing and the transactions contemplated hereby: 
 (i)
Status of Buyer. Buyer is a corporation duly organized, validly existing and in good standing under the laws of Iowa, and has the corporate power and authority to own and operate its business as now being conducted. 

(ii) Authority and Binding Obligation of the Buyer. Buyer has the requisite power and authority to enter into this
Agreement and to consummate the transactions contemplated by this Agreement. The execution and delivery of this Agreement by Buyer and the consummation by Buyer of the transactions contemplated by this Agreement have been duly authorized by a
special committee of the board of directors of Buyer and the board of directors of the Buyer. The board of directors of Buyer has taken all necessary action on the part of Buyer to carry out the transactions contemplated by this Agreement, and no
other action by Buyer’s shareholders is necessary to approve this Agreement and the transactions contemplated hereunder. This Agreement has been executed and delivered by Buyer and constitutes a legal, valid and binding obligation of Buyer
enforceable against Buyer in accordance with its terms, except as enforceability thereof may be limited by creditors’ rights generally or by general principles of equity. 

  
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 (iii) No Consents. The execution, delivery, and performance by Buyer
of this Agreement the consummation of the transactions contemplated hereby do not and will not require the consent, notice or other action by any person under any contract to which Buyer is a party. 

(iv) Disclosure. Buyer has filed with the SEC all reports, forms and other information required to be filed by it
under the Securities Exchange Act of 1934, as amended, including pursuant to Section 13(a) or 15(d) thereof, for the twelve months preceding the date hereof (the foregoing materials being collectively referred to herein as the
“Disclosure Materials”) on a timely basis or has timely filed a valid extension of such time of filing and has filed any such Disclosure Materials prior to the expiration of any such extension. As of the respective dates on which
they were filed with the SEC, the Disclosure Materials conformed in all material respects to the requirements of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC thereunder, and none of such Disclosure
Materials contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading. 

(v) Solvency. Immediately after the consummation of the transactions to occur at the Closing Date, (a) Buyer
will be able to pay its debts as they become due in the usual course of business, (b) the fair value of Buyer’s assets will be greater than the sum of its total liabilities, and (c) the Seller will not have unreasonably small capital
with which to conduct the business in which it is engaged as such business is now conducted and is proposed to be conducted following the Closing Date. 
 (vi) Brokers or Finders. Seller has not incurred any obligation or liability, contingent or otherwise, for any brokerage or finder’s fee, agent’s commission or other similar payment in
connection with the transactions contemplated by this Agreement. 
 6. Conditions to Each Party’s Obligations. The
obligation of Buyer to purchase the Shares, and the obligation of Seller to sell the Shares, is subject to the satisfaction of the following condition: No statute, rule, regulation, temporary restraining order, preliminary or permanent injunction or
other order enacted, entered, promulgated, enforced or issued by any governmental entity or other legal restraint or prohibition preventing, or rendering illegal, the consummation and performance of this Agreement shall be in effect. 

7. Indemnification. 
 (a) Indemnification of the Buyer. Seller agrees to indemnify, defend and hold Buyer, its directors, officers, employees and agents, harmless from and against any and all losses, claims, demands,
suits, actions, damages, costs and expenses (including, without limitation, reasonable attorneys’ fees and disbursements) of every kind, nature and description (collectively, “Losses”) based upon, arising out of or otherwise in
respect of a breach of any warranty, agreement, covenant or representation made in this Agreement by Seller or in any statement, document, exhibit or certification furnished by Seller pursuant hereto. 

  
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 (b) Indemnification of the Seller. Buyer agrees to indemnify, defend
and hold Seller, its directors, officers, employees and agents, harmless from and against any and all Losses based upon, arising out of or otherwise in respect of a breach of any warranty, agreement, covenant or representation made in this Agreement
by Buyer or in any statement, document, exhibit or certification furnished by Buyer pursuant hereto. 
 (c)
Indemnification Procedure. A party claiming the right to indemnification pursuant to this Section 7 (the “Indemnified Party”) shall notify the other party (the “Indemnifying Party”) in writing promptly
after it becomes aware of a Loss or claimed Loss, including the assertion of any third-party claim (“Claim”) upon which the Indemnified Party has a right to base a claim for indemnification hereunder; provided, however, that no
delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless and solely to the extent the Indemnifying Party thereby is prejudiced. Upon receipt of such
notice, the Indemnifying Party shall be entitled to (i) participate at its own expense in the defense or investigation of any such Claim, or (ii) assume the defense thereof in which event the Indemnifying Party shall not be liable to the
Indemnified Party for legal or attorneys’ fees thereafter incurred by the Indemnified Party in defense of such Claim; provided, that if the Indemnified Party may have any unindemnified liability arising out of such Claim, the Indemnified Party
shall have the right to approve the counsel selected by the Indemnifying Party, which approval shall not be unreasonably withheld. If the Indemnifying Party assumes the defense of any Claim, all costs of defense of such Claim shall thereafter be
borne by the Indemnifying Party and it shall have the authority to compromise and settle such Claim, or to appeal any adverse judgment or ruling with the costs of such appeal to be paid by the Indemnifying Party; provided, however, if the
Indemnified Party may have any unindemnified liability arising out of such Claim, the Indemnifying Party shall have the authority to compromise and settle each such Claim only with the written consent of the Indemnified Party, which consent shall
not be unreasonably withheld. The Indemnified Party may continue to participate in the litigation of any Claim at its expense after the Indemnifying Party assumes the defense of such Claim. In the event the Indemnifying Party does not elect to
assume the defense of a third-party Claim within twenty (20) days after receipt of notice of the Claim from the Indemnified Party, the Indemnified Party shall have authority to compromise and settle such Claim at the expense of the Indemnifying
Party, or to appeal any adverse judgment or ruling with the costs to be paid by the Indemnifying Party. 
 8. Additional
Agreements. 
 (a) Reasonable Best Efforts. Each of the parties hereto shall use its reasonable best
efforts to take, or cause to be taken, all reasonable actions, and to do, or cause to be done, and to assist and cooperate with the other party in doing, all things reasonably necessary, proper, or advisable to consummate and make effective, in the
most expeditious manner practicable, the sale of the Shares pursuant to this Agreement, including (i) the obtaining of all consents and the taking of all reasonable steps as may be 

  
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necessary to obtain consents, (ii) the obtaining of all necessary consents, approvals or waivers from third parties, (iii) the defending of any lawsuits or other legal proceedings,
whether judicial or administrative, challenging this Agreement or the consummation of the transactions contemplated hereby, and (iv) the execution and delivery of any additional instruments necessary to carry out the purposes of this Agreement.

 (b) Transfer Taxes. Buyer shall pay all transfer taxes arising out of the sale of the Shares,
including, but not limited to stock transfer and similar taxes and fees, arising out of or in connection with the transactions contemplated by this Agreement. For avoidance of doubt, Buyer shall not be required to assume liability for or pay any
income or gains tax of Seller as a result of any income or gains recognized by it. 
 9. Termination. 

(a) Termination By Mutual Consent. This agreement may be terminated by mutual written consent of Seller and Buyer
without liability on the part of Seller or Buyer. 
 (b) Termination by Either Seller or Buyer. This
Agreement may be terminated by either Seller or Buyer if the conditions precedent to the party’s obligations to consummate the transactions contemplated by this Agreement have not been satisfied, waived or performed; provided, however, that the
right to terminate this Agreement under this Section 9(b) shall not be available to a party whose failure to fulfill any obligation under this Agreement has been the cause of or resulted in the failure of this transaction to occur. 

(c) Effect of Termination. In the event of termination of this Agreement by either Buyer or Seller as provided in
this Section 9, this Agreement shall forthwith become void and of no effect, without any liability on the part of Buyer or Seller, other than the indemnity obligations contained in Section 7, which shall survive such termination, and
except to the extent that such termination results from a fraud or willful and intentional breach by a party of any representation, warranty or covenant set forth in this Agreement. 

10. Miscellaneous. 
 (a) Extension; Waiver. At any time prior to Closing, the parties may extend the time for performance of any of the obligations or other acts of the other party or waive any inaccuracies in the
representations and warranties contained in this Agreement or in any document delivered pursuant to this Agreement or waive compliance with any of the agreements or conditions contained in this Agreement (provided that a waiver must be in writing
and signed by the party against whom the waiver is to be effective). Any agreement on the part of a party to any such extension or waiver shall be valid only if set forth in an instrument signed on behalf of such party. The failure of any party to
this Agreement to assert any of its rights under this Agreement or otherwise shall not constitute a waiver of such rights. No provision of this Agreement requiring any party to use reasonable efforts or to act in good faith in any context shall be
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a party, as a part of such party’s duty to use reasonable efforts or to act in good faith in the context in question, to waive any condition to the obligations of such party hereunder or to
refrain from exercising any right or power such party may have hereunder. 
 (b) Expenses. Each party
shall bear and pay its or his own costs and expenses in connection herewith (including, without limitation, fees and expenses of any finders, brokers or financial advisors) in all events. 

(c) Successors. This Agreement shall be binding upon and inure to the benefit of the respective successors, assigns
or legal representatives of the parties hereto. Notwithstanding the foregoing sentence, this Agreement shall not be assigned by any party hereto without the prior written consent of the other party. 

(d) Notices. Any notice, request, instruction or other document to be given hereunder or to any party shall be in
writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the
date sent by facsimile or e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the recipient or (d) on the fourth
day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the following addresses (or at such other address for a party as shall be specified
in a notice given in accordance with this Section 10(d) as follows: 
 If to Buyer: 

Green Plains Renewable Energy, Inc. 
 Attn: General Counsel 
 450 Regency Parkway, Suite 400 

Omaha, NE 68114 

Facsimile Number: 402-301-8698 
 Email Address: Michelle.Mapes@gpreinc.com 
 With a copy to: 

Jeffrey T. Haughey 
 Husch Blackwell LLP 
 4801 Main Street, Suite 100 

Kansas City, MO 64112 
 Facsimile Number: 816-983-8080 
 Email Address: Jeff.Haughey@huschblackwell.com

  
 7 

 If to Seller: 
 Greenstar North America Holdings, Inc. 
 Attn: Ms. Caroline Bergin 

Burton Court 

Burton Hall Drive 

Sandyford, Dublin 18 
 Ireland 
 Facsimile Number: 00 353 1 2061372 

Email Address: Caroline.Bergin@ntrplc.com 
 With a copy to: 
 NTR plc 

Attention: Ms. Caroline Bergin 
 Burton Court 
 Burton Hall Drive 

Sandyford, Dublin 18 
 Ireland 
 Facsimile Number: 00 353 1 2061372 

Email Address: Caroline.Bergin@ntrplc.com 
 and to: 
 CJ Voss 

Stoel Rives LLP 

3600 One Union Square 
 600 University Street 
 Seattle, WA 98101 

Facsimile Number: (206) 386-7500 
 Email Address: cjvoss@stoel.com 
 (e) Captions. The headings of the
sections herein are inserted for convenience only and shall not control or affect the meaning or construction of any of the provisions of this Agreement 
 (f) Entire Agreement. This Agreement constitutes the entire understanding between the parties hereto with respect to the matters covered herein. This Agreement may not be amended or modified, nor
may any of its terms be waived, except by written instruments signed by the parties hereto. 
 (g) Governing Law. This
Agreement shall be governed by and construed in accordance with the laws of the State of Iowa, without regard to its rules of conflict of laws. The parties do not intend that any dispute or controversy under this Agreement be subject to arbitration
or be arbitrated. 

  
 8 

 (h) Severability. If any term or other provision of this Agreement is invalid,
illegal or unenforceable, all other provisions of this Agreement shall remain in force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon
a determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible
in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the maximum extent possible. 

(i) Specific Performance. The parties hereto acknowledge that irreparable damage would result if this Agreement were not
specifically enforced, and they therefore consent that the rights and obligations of the parties under this Agreement may be enforced by a decree of specific performance issued by a court of competent jurisdiction. Such remedy shall, however, not be
exclusive and shall be in addition to any other remedies which any party may have under this Agreement or otherwise. 
 (j)
Trial by Jury. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY IN CONNECTION WITH ANY LITIGATION ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE OTHER AGREEMENTS AND
TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR REFERRED TO HEREIN. 
 (k) Multiple Counterparts. This Agreement may be
executed in separate counterparts by the parties hereto and all of such counterparts shall be considered as one and the same instrument and all of such agreements shall be deemed but one and the same agreement. 

(l) Singular Plural. Whenever the singular form of any word is used in this Agreement, the same shall include the plural form of
such word, whenever appropriate, and vice versa. 
 (m) Survival of Covenants. Each of the covenants and agreements
contained herein to be performed after Closing shall survive the Closing of the transactions contemplated by this Agreement. 

[THIS SPACE INTENTIONALLY LEFT BLANK] 

  
 9 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first
set forth above. 
  

			
	GREENSTAR NORTH AMERICA HOLDINGS INC.
		
	By:	 	 /S/    Caroline
Bergin        

	Name:	 	 Caroline Bergin

	Title:	 	 Group Legal Director & Company Secretary

		 	 NTR plc

	
	GREEN PLAINS RENEWABLE ENERGY, INC.
		
	By:	 	 /S/    Michelle
Mapes        

	Name:	 	 Michelle Mapes

	Title:	 	 EVP-General Counsel & Corp. Secretary

  
 10 

 Exhibit A 

PROMISSORY NOTE 
  

			
	$14,000,000.00	  	Dated as of: September 16, 2011

 For value received, GREEN PLAINS RENEWABLE ENERGY, INC., an Iowa corporation (the “Debtor”), agrees to pay to
the order of GREENSTAR NORTH AMERICA HOLDINGS INC., a Delaware corporation (“Greenstar”), the principal sum of Fourteen Million and 00/100 U.S. Dollars ($14,000,000.00) together with interest thereon as specified herein, all of which shall
be due and payable on either (i) November 15, 2011 or (ii) December 15, 2011, with such date to be determined by Debtor in its sole discretion (the “Due Date”). If Debtor selects December 15, 2011 as the Due Date,
then and only then, shall interest accrue on the principal amount of this Note at a rate of Three Percent (3.0%) per annum for the period beginning on the date of this Note and ending on the earlier of (i) when the outstanding balance due
hereunder is zero ($0.00), or (ii) December 15, 2011. 
 This Promissory Note (the “Note) is delivered pursuant to
Section 4(c) of that certain Stock Repurchase Agreement by and between Greenstar and Debtor (the “Repurchase Agreement”) and will be secured by that certain Assignment and Pledge of Stock dated on or about the date herewith
(“Assignment”) executed by Debtor in favor of Greenstar pledging certain shares of treasury stock of Debtor. Greenstar is not required, but may choose at its sole discretion, to rely on any security granted to it for the payment of this
Promissory Note in the case of default, but may proceed directly against the Debtor. 
 In addition to exercising any rights Greenstar has been
granted by Debtor under the Assignment, Debtor, as evidenced by its signature below, authorizes Greenstar to seek any other legal means of collection if Debtor is in default of this Note. 
 If Debtor fails to pay the principal and accrued interest, if applicable, on this Note in full on or before the selected Due Date (an “Event of Default”) then this Note and all of the
obligations hereunder shall become due immediately. 
 The whole or part of the principal due hereunder may be prepaid at any time without
penalty provided there exists at the time of prepayment no default hereunder. Payments shall be applied first to the payment of any fees, expenses or past due amounts owing by the Debtor to Greenstar, second to interest accrued on the unpaid
principal balance, if applicable, and third to the principal balance. 
 Except as expressly set forth herein, the Debtor hereby waives
presentment, demand, notice, protest and all other demands and notices in connection with the delivery, acceptance, performance or enforcement of this Note. If an Event of Default occurs, Greenstar shall be entitled to recover from Debtor all
reasonable costs and expenses of collection of the Greenstar, including court costs and reasonable attorney’s fees, in the event collection procedures are commenced by the Greenstar in accordance with the terms of this Note or the Assignment
after any amount hereunder becomes due and payable. 

  
 11 

 If any provision of this Note is deemed by any court, having jurisdiction thereon to be invalid or
unenforceable, the balance of this Note shall remain in effect; if any provision of this Note is deemed by any such court to be unenforceable because such provision is too broad in scope, such provision shall be construed to be limited in scope to
the extent such court shall deem necessary to make it enforceable; and if any provision is deemed inapplicable by any such court to any person or circumstances, it shall nevertheless be construed to apply to all other persons and circumstances.

 No delay or omission on the part of Greenstar in exercising any right hereunder shall operate as a waiver of such right or of any other right
under this Note. No waiver of any right shall be effective unless in writing and signed by the Greenstar nor shall a waiver on one occasion be construed as a bar to or waiver of any such right on any future occasion. 

This Note shall only be amended if such amendment is agreed to by both Debtor and Greenstar, in writing, and executed by both Debtor and Greenstar.

 This Note shall be governed by and construed in accordance with the laws of the State of Iowa, without regard to its rules of conflict of
laws. 
  

			
	GREEN PLAINS RENEWABLE ENERGY, INC.
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 Date as of:    September 16, 2011

  
 12 

 Exhibit B 

ASSIGNMENT AND PLEDGE OF STOCK 
 THIS ASSIGNMENT AND PLEDGE OF STOCK (“Assignment”) is made and entered into as of September 16, 2011 (the “Effective Date”), by and between GREEN PLAINS
RENEWABLE ENERGY, INC., an Iowa corporation (the “Grantor”), and GREENSTAR NORTH AMERICA HOLDINGS INC., a Delaware corporation (the “Secured Party”). 

Recitals 

A. In accordance with that certain Stock Repurchase Agreement dated as of September 9, 2011 between Grantor and Secured Party
(“Repurchase Agreement”), Secured Party sold 3,500,000 shares of Grantor’s stock (“Shares”) to Grantor in exchange for the Purchase Price (as defined in the Repurchase Agreement). Grantor has
executed a Promissory Note in favor of Secured Party in the original principal amount of $14,000,000 for that portion of the Purchase Price due at a date to be determined pursuant to Section 4(b) of the Repurchase Agreement (as amended,
modified, or restated, the “Note”). 
 B. As a material inducement for Secured Party to enter into the
Repurchase Agreement and to accept the Note in lieu of full payment on the date herewith, Grantor has agreed to deliver this Assignment to Secured Party. 
 NOW, THEREFORE, in consideration of the premises and for other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Grantor and Secured Party hereby agree as follows:

 Agreement 
 1. Incorporation of Recitals and of Certain Provisions of the Repurchase Agreement. The above recitals are hereby incorporated in this Assignment by reference and made a part hereof. The provisions
of Sections 6(a) (Seller’s Representations and Warranties), 11(d) (Notices), 11(g) (Governing Law), 11(j) (Trial by Jury) and 11(k) (Multiple Counterparts) of the Repurchase Agreement are hereby incorporated by reference into this Assignment as
if fully set forth herein and shall apply mutatis mutandis to this Assignment. 
 2. Assignment and Grant of Security
Interest. This Assignment is intended to be a security agreement pursuant to the Uniform Commercial Code as presently in effect in the State of Iowa (the “Code”) for any of the items specified below as part of the Collateral
which, under applicable law, may be subject to a security interest pursuant to the Code. Grantor hereby assigns and conveys to Secured Party, and hereby grants Secured Party a first priority security interest in, all of its right, title and interest
in and to (a) 1,750,000 Shares, and all certificates, if any, representing such Shares, and all dividends, distributions of whatever nature, profits, liquidation proceeds, cash, instruments and other property or proceeds from time to time
received, receivable or otherwise distributed in respect of, arising out of, or in exchange for, any or all of such Shares; (b) all proceeds of any of the foregoing, and other amounts or property of

  
 13 

 
any kind whatsoever due or to become due to Grantor thereunder or with respect thereto; (c) all replacements of and additions to any of the foregoing; and (d) all of the foregoing
whether now owned or hereafter acquired (all of the foregoing interests of all of the Grantor being hereinafter collectively referred to as the (“Collateral”). 

3. Security for Indebtedness. The Collateral shall secure the payment and performance of all of Grantor’s obligations under
the Repurchase Agreement, the Note and this Assignment, and any amounts expended by or on behalf of Secured Party for the protection and preservation of the security interest granted herein (collectively, the “Indebtedness”).

 4. Further Assurance by Grantor Covenants. 
 (a) Grantor agrees that from time to time, at its sole expense, Grantor will promptly execute and deliver all further instruments and documents and take all further action that may be necessary or
advisable, or that Secured Party may reasonably request, in order to protect the security interest granted hereby or to enable Secured Party to exercise and enforce its rights and remedies hereunder with respect to any Collateral. 

(b) Grantor hereby authorizes Secured Party to file one or more financing or continuation statements, and amendments thereto, with
respect to all or any part of the Collateral without the signature of such Grantor where permitted by law. 
 (c) Grantor will
defend the right, title and interest hereunder of the Secured Party, as a security interest in the Collateral granted by such Grantor, against the claims and demands of all persons whomsoever. 

(d) Without the prior written consent of the Secured Party, the Grantor shall not create or suffer to be created pursuant to the Uniform
Commercial Code any other security interest in the Collateral, including replacements and additions thereto. 
 5. Delivery
of Collateral. On the Effective Date, all certificates or instruments representing or evidencing any of the Collateral shall be delivered to and held by or on behalf of Secured Party pursuant hereto and shall be in suitable form for transfer by
delivery, and shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance satisfactory to Secured Party. Upon an Event of Default (as hereinafter defined), Secured Party shall have the right, at
any time in its discretion, to transfer to or to register in the name of Secured Party or any of its nominees any or all of the Collateral. 
 6. Events of Default. An “Event of Default” under this Assignment shall be deemed to have occurred if any of the following occur: (a) the occurrence of an “Event of
Default” as such term is defined and used in the Note; or (b) any default in the payment or performance under this Assignment or the Indebtedness. 

  
 14 

 7. Remedies Upon Default. If any Event of Default, as defined in Section 6
hereof, shall have occurred: 
 (a) Secured Party may exercise, in respect of the Collateral, in addition to any and all other
rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured party under the Code, and may also (without notice except as specified below) sell the Collateral at public or private sale, at Secured
Party’s office or elsewhere, for cash, credit or future delivery and at such price or prices and upon such other terms as Secured Party may deem to be commercially reasonable as allowed under the Code. Secured Party shall not be obligated to
make any sale of Collateral regardless of notice of sale having been given. Secured Party may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be
made at the time and place to which it was so adjourned. 
 (b) All cash proceeds received by Secured Party in respect of any
sale of, collection from (whether or not pursuant to a sale), or other realization upon (whether or not pursuant to a sale) all or any part of the Collateral may, in the sole discretion of Secured Party, be held by Secured Party as collateral for,
and/or then or at any time thereafter applied (after payment of any amounts payable to Secured Party pursuant to Section 8 hereof) by Secured Party, against all or any part of the Indebtedness, in such order as the Secured Party shall elect, in
its sole discretion. Any surplus of such cash or cash proceeds held by Secured Party and remaining after payment in full of all the Indebtedness shall be paid over to whomsoever may be lawfully entitled to receive such surplus. 

(c) The Secured Party may transfer the whole or any part of the Collateral into the name of the Secured Party or the name of its nominee
and exercise all voting and other rights in connection with the Collateral. 
 (d) Grantor hereby waives (to the extent
permitted by law) all rights of redemption, stay and/or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. Grantor hereby waives any claims against Secured Party by
reason of the fact that the price at which any Collateral may have been sold at such a private sale, if commercially reasonable, was less than the price which might have been obtained at a public sale, even if Secured Party accepts the first offer
received and does not offer such Collateral to more than one of offeree. 
 (e) Grantor agrees that, to the extent notice of
sale shall be required by law, at least ten days’ notice to Grantor of the time and place of any public sale or the time after which any private sale is to be made shall constitute reasonable notification. 

(f) Secured Party shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. Secured Party may
adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Assuming that such sales are made in
compliance with federal and state securities laws, Secured Party shall incur no liability as a result of the sale of the Collateral, or any part thereof, at any public or private sale. 

(g) Grantor recognizes that Secured Party may elect in its sole discretion to sell all or a part of the Collateral to one or more
purchasers in privately negotiated transactions in which 

  
 15 

 
the purchasers will be obligated to agree, among other things, to acquire the Collateral for their own account, for investment and not with a view to the distribution or resale thereof. Grantor
acknowledges that any such private sales may be at prices and on terms less favorable than those obtainable through a public sale (including, without limitation, a public offering made pursuant to a registration statement under the Securities Act of
1933, as amended (the “Securities Act”)), and Grantor and Secured Party agree that such private sales shall be made in a commercially reasonable manner and that Secured Party has no obligation to engage in public sales and no
obligation to delay sale of any Collateral to permit the issuer thereof to register the Collateral for a form of public sale requiring registration under the Securities Act. 
 (h) If Secured Party disposes of the Collateral, Grantor agrees to pay any deficiency remaining after application of the net proceeds to any indebtedness secured hereby. 

8. Expenses. Grantor will, upon demand, pay to Secured Party the amount of any and all expenses, including the fees and expenses
of its counsel and of any experts and agents, which Secured Party may incur in connection with (a) the sale of, collection from, or other realization upon, any of the Collateral, (b) the exercise or enforcement of any of the rights of
Secured Party hereunder, or (c) the failure by any Grantor to perform or observe any of the provisions hereof. 
 9.
Security Interest Absolute. All rights of Secured Party and the security interest hereunder, and all obligations of Grantor hereunder, shall be absolute and unconditional irrespective of: 

(a) any lack of validity or enforceability of any other agreement or instrument relating thereto; 

(b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Note, or any other amendment or
waiver of or any consent to any departure from any other agreement or instrument relating thereto; or 
 (c) any other
circumstance which might otherwise constitute a defense available to, or a discharge of, the Grantor. 
 10. Continuing
Assignment and Security Interest. This Assignment shall create a continuing assignment of and security interest in the Collateral and shall: (a) remain in full force and effect until payment and performance in full of all of the
Indebtedness; (b) be binding upon Grantor and their respective successors and assigns; and (c) inure to the benefit of Secured Party, its representatives, successors, transferees and assigns. Upon the payment and performance in full of all
of the Indebtedness owed by Grantor to Secured Party, the assignment and security interest granted hereby shall terminate and all rights to the Collateral shall revert to the Grantor. Upon any such termination, Secured Party will execute and deliver
to Grantor such documents as Grantor shall reasonably request to evidence such termination. 
 [Balance of this page
intentionally left blank; signatures to follow.] 

  
 16 

 COUNTERPART SIGNATURE PAGE TO 

ASSIGNMENT AND PLEDGE OF STOCK 
 IN WITNESS WHEREOF, the parties hereto have duly executed this Assignment as of the date first above written. 

 

			
	GRANTOR:
	
	GREEN PLAINS RENEWABLE ENERGY, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	SECURED PARTY:
	
	GREENSTAR NORTH AMERICA HOLDINGS INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 17

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