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EXHIBIT 4.2  

THE
SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AND HAVE BEEN TAKEN FOR INVESTMENT PURPOSES ONLY AND NOT WITH A VIEW TO THE DISTRIBUTION THEREOF,
AND SUCH SECURITIES MAY NOT BE SOLD OR TRANSFERRED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT COVERING SUCH SECURITIES OR SUPERGEN, INC. (THE "COMPANY") RECEIVES AN
OPINION OF COUNSEL (WHICH MAY BE COUNSEL FOR THE COMPANY) STATING THAT SUCH SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT. 

	No. KG-A

Date of issuance: March 22, 2001

Void After March 21, 2004	 	Right to Purchase 200,000

Shares of Common Stock

SUPERGEN, INC.  

 
 

WARRANT    
  

        THIS CERTIFIES THAT, subject to the terms of this agreement, The Kriegsman Group, (the "Holder") is entitled to
subscribe for and purchase from SuperGen, Inc, a Delaware corporation (the
"Company"), at the Warrant Price defined in Section 2 herein, Two Hundred Thousand (200,000) fully paid and non-assessable shares of
the Company's Common Stock (the "Common Stock"), such price and such number of shares being subject to adjustment upon occurrence of the contingencies
set forth in this Warrant. 

        Upon
delivery of this Warrant (with the Notice of Exercise in the form attached hereto as Exhibit A), together with payment of the
Warrant Price of the shares of Common Stock thereby purchased, at the principal office of the Company or at such other office or agency as the Company may designate by notice in writing to the holder
hereof, the holder of this Warrant shall be entitled to receive a certificate or certificates for the shares of Common Stock so purchased. All shares of Common Stock which may be issued upon the
exercise of this Warrant will, upon issuance, be fully paid and non-assessable and free from all taxes, liens and charges with respect thereto. 

        This
Warrant is subject to the following terms and conditions: 

        1.    Term of Warrant.    

        This
Warrant is fully vested upon issuance and may be exercised in whole or in part, at any time, and from time to time, after issuance and prior to the first to occur of the following: 

	(a)
	5:00
pm, Pacific Standard Time, March 21, 2004.

	(b)
	The
consummation of any transaction or Series of transactions (collectively, the "Transaction"), including without limitation, the
sale, transfer or disposition of all or substantially all of the Company's assets or the merger of the Company with or into, or consolidation with, any other corporation, whereby the holders of the
Company's voting securities prior to the Transaction do not hold more than 50% of the voting securities of the surviving entity following consummation of the Transaction (a  "Change of Control"). Upon
the occurrence of any of the events described above, this Warrant, to the extent not exercised shall terminate. 

        Upon
the occurrence of any of the events described in clauses (a) and (b) above, this Warrant, to the extent not exercised, shall terminate. 

        2.    Warrant Price.    The exercise price of this Warrant (the "Warrant Price") shall be $10.47 per Share. 

 

        3.    Adjustment of Purchase Price and Number of Shares; Limitation on Exercise.    

        The
number and kind of securities purchasable upon the exercise of this Warrant and the Warrant Price shall be subject to adjustment from time to time in accordance with the following
provisions; provided that, no such adjustment shall be made if a corresponding adjustment is made pursuant to the Company's Certificate of Incorporation. 

        (a)    Reclassification, Consolidation or Merger.    In case of any reclassification or change of outstanding
securities of the class issuable upon exercise of this Warrant (other than as a result of a subdivision or combination), or in case of any consolidation or merger of the Company with or into another
corporation (other than a Change of Control as provided in Section 1(b) hereof), the Company, or such successor corporation, as the case may be, shall execute a new Warrant, providing that the
holder of this Warrant shall have the right to exercise such new Warrant and procure upon such exercise in lieu of each share of Common Stock theretofore issuable upon exercise of this Warrant the
kind and amount of shares of stock, other securities, money and property receivable upon such reclassification, change, consolidation or merger by a holder of one share of Common Stock. Such new
Warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Section 3. The provisions of this subsection
(a) shall similarly apply to successive reclassifications, changes, consolidations and mergers. 

        (b)    Subdivision or Combination of Shares.    If at any time on or after the date of this Warrant the Company shall
subdivide its outstanding shares of Common Stock into a greater number of shares, the Warrant Price in effect immediately prior to such subdivision shall be proportionately reduced and the number of
shares receivable upon exercise of the Warrant shall be proportionately increased; and, conversely, if at any time on or after the date of this Warrant the outstanding number of shares of Common Stock
shall be combined into a smaller number of shares, the Warrant Price in effect immediately prior to such combination shall be proportionately increased and the number of shares receivable upon
exercise of the Warrant shall be proportionately decreased. 

        (c)    Adjustment of Number of Shares.    Upon each adjustment in the Warrant Price, the number of Shares of Common
Stock purchasable hereunder shall be adjusted, to the nearest whole share, to the product obtained by multiplying the number of Shares purchasable immediately prior to such adjustment in the
Warrant Price by a fraction, the numerator of which shall be the Warrant Price immediately prior to such adjustment and the denominator of which shall be the Warrant Price immediately thereafter. 

        4.    Notices.    

	(a)
	Upon
any adjustment of the Warrant Price and any increase or decrease in the number of shares of Common Stock purchasable upon the exercise of this Warrant, then, and in each such
case, the Company, within thirty (30) days thereafter, shall give written notice thereof to the registered holder of this Warrant (the "Notice").
The Notice shall be mailed to the address of such holder as shown on the books of the Company, and shall state the Warrant Price as adjusted and the increased or decreased number of shares purchasable
upon the exercise of this Warrant, setting forth in reasonable detail the method of calculation of each.

	(b)
	In
the event that the Company shall propose at any time to effect a Change of Control, the Company shall send to the Holder at least twenty (20) days' prior written notice of
the date when the same shall take place.

	(c)
	Each
such written notice shall be given by first class mail, postage prepaid, addressed to the Holder at the address as shown on the books of the Company for the Holder. 

2

 

        5.    Investment Letter.    Upon exercise or conversion of this Warrant in accordance with the provisions hereof, the
Holder shall either (i) execute and deliver to the Company an investment letter in the form attached to the Notice of Exercise on Exhibit A, or (ii) deliver to the Company an
opinion of counsel for the Holder reasonably satisfactory to the Company, stating that such exercise or conversion is exempt from the registration and prospectus delivery requirements of the
Securities Act of 1933, as amended (the "Securities Act"). 

        6.    Restrictions on Transfer.    Certificates representing any of the Common Stock acquired pursuant to the
provisions of this Warrant shall have endorsed thereon legends substantially in the following form, as appropriate. 

	(a)
	Unless
such shares of Common Stock are received in a transaction registered under the Securities Act and qualified (if necessary) under applicable state securities laws: 

"THE
SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. SUCH SHARES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE
OF SUCH REGISTRATION UNLESS THE COMPANY RECEIVES AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO IT STATING THAT SUCH SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY
REQUIREMENTS OF SAID ACT." 

	(b)
	Any
legend required to be placed thereon by any applicable state securities laws. 

        7.    Compliance with Act.    The Holder, by acceptance hereof, agrees that this Warrant and the Common Stock to be
issued upon the exercise or conversion hereof are being acquired solely for its own account and not as a nominee for any other party and not with a view toward the resale or distribution thereof and
that it will not offer, sell or otherwise dispose of this Warrant or any of the Common Stock to be issued upon the exercise or conversion hereof except in accordance herewith and under circumstances
which will not result in a violation of the Securities Act or of applicable state securities laws. 

        8.    Miscellaneous.    

	(a)
	The
terms of this Warrant shall be binding upon and shall inure to the benefit of any successors or assigns of the Company and of the holder or holders hereof and of the Common Stock
issued or issuable upon the exercise hereof.

	(b)
	No
holder of this Warrant, as such, shall be entitled to vote or receive dividends or be deemed to be a stockholder of the Company for any purpose, nor shall anything contained in
this Warrant be construed to confer upon the holder of this Warrant, as such, any rights of a stockholder of the Company or any right to vote, give or withhold consent to any corporate action, receive
notice of meetings, receive dividends or subscription rights, or otherwise.

	(c)
	Receipt
of this Warrant by the holder hereof shall constitute acceptance of and agreement to the foregoing terms and conditions.

	(d)
	The
Company will not, by amendment of its Certificate of Incorporation or through any other means, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the
holder of this Warrant against impairment.

	(e)
	Upon
receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of any such loss, theft or distribution,
upon delivery of an indemnity agreement reasonably satisfactory in form and amount to the 

3

 

Company
or, in the case of any such mutilation, upon surrender and cancellation of such Warrant, the Company at its expense will execute and deliver, in lieu thereof, a new Warrant of like date and
tenor. 

	(f)
	This
Warrant shall be nontransferable, other than pursuant to (i) a transfer not involving a change in beneficial ownership, (ii) a distribution without consideration of
the Warrant by the Holder to any of its partners, or retired partners, or to the estate of any of its partners or retired partners, or if the Holder is a limited liability company, to any of its
members, former members, or to the estate of any of its members or former members, and (iii) any transfer by any Holder to (A) any individual or entity controlled by, controlling, or
under common control with, such Holder or (B) any individual or entity with respect to which such Holder (or any person controlled by, controlling, or under common control with, such Holder)
has the power to direct investment decisions

	(g)
	This
Warrant or any provision of this Warrant may be amended, waived, discharged or terminated by a statement in writing signed by the either (i) the Company and the Holder, or
(ii) the party against which enforcement of the amendment, waiver, discharge or termination is sought.

	(h)
	This
Warrant shall be governed by the laws of the State of Delaware. 

[Signature Page Follows]

4

 

        IN
WITNESS WHEREOF, the Company has caused this Warrant to be signed by its duly authorized officer. 

        Dated:
March 22, 2001 

	 	 	SUPERGEN, INC.
	

 	
 	

/s/  DR. JOSEPH RUBINFELD      
 Dr. Joseph Rubinfeld
 President and Chief Executive
Officer

5

 
 
 

EXHIBIT A
  
    NOTICE OF EXERCISE    
  

TO:
SuperGen, Inc. 

	1.
	The
undersigned hereby elects to purchase                          shares of the Common Stock of SUPERGEN, INC. pursuant
to the terms of the attached
Warrant, and tenders herewith payment of the purchase price of such shares in full, together with all applicable transfer taxes, if any.

	2.
	Please
issue a certificate or certificates representing said shares of Common Stock in the name of the undersigned or in such other name as is specified below: 

_________________________________

(Name) 

_________________________________ 

_________________________________

(Address) 

	3.
	The
undersigned represents that the aforesaid shares of Common Stock are being acquired for the account of the undersigned for investment and not with a view to, or for resale in
connection with, the distribution thereof and that the undersigned has no present intention of distributing or reselling such shares. In support thereof, the undersigned has executed the Investment
Representation Statement attached hereto as Exhibit A. 

	 	 	Signature of Holder
	

 	
 	

	 	 	By:	 
	 	 	 	

	 	 	Title:	 
	 	 	 	

	 	 	Date:	 
	 	 	 	

6

 
 
 

EXHIBIT A TO NOTICE OF EXERCISE
  SUPERGEN, INC.
  WARRANT EXERCISE
  INVESTMENT REPRESENTATION STATEMENT    
  

	PURCHASER	:	 	 	 	 
	COMPANY	:	 	SuperGen, Inc.	 	 
	SECURITY	:	 	Common Stock	 	 
	NUMBER OF SHARES	:	 	 	 	 
	DATE	:	 	                        ,
            	 	 

        In connection with the purchase of the above-listed Securities, I, the Purchaser, represent to the Company the following: 

	(a)
	I
am an accredited investor within the meaning of Rule 501 under the Securities Act of 1933, as amended (the "Securities Act") and have such knowledge and experience in
financial and business matters that I am capable of evaluating the merits and risks of the purchase of the Securities.

	(b)
	I
am aware of the Company's business affairs and financial condition, and have acquired sufficient information about the Company to reach an informed and knowledgeable decision to
acquire the Securities. In making my decision to the acquire the Securities, I am not relying on representations of any officer, director, stockholder or agent of the Company. I am purchasing these
Securities for my own account for investment purposes only and not with a view to, or for the resale in connection with, any "distribution" thereof for purposes of the Securities Act.

	(c)
	I
understand that the Securities have not been registered under the Securities Act in reliance upon a specific exemption therefrom, and that reliance by the Company on such an
exemption is predicated in part on the representations set forth in this letter.

	(d)
	I
further understand that the Securities must be held indefinitely unless subsequently registered under the Securities Act or unless an exemption from registration is otherwise
available. Moreover, I understand that the Company is under no obligation to register the Securities. In addition, I understand that the certificate evidencing the Securities will be imprinted with a
legend which prohibits the transfer of the Securities unless they are registered or such registration is not required in the opinion of counsel for the Purchaser satisfactory to the Company or unless
the Company receives a no-action letter from the Securities and Exchange Commission.

	(e)
	I
am familiar with the provisions of Rule 144, promulgated under the Securities Act, which, in substance, permits limited public resale of "restricted securities" acquired,
directly or indirectly, from the issuer thereof (or from an affiliate of such issuer), in a non-public offering subject to the satisfaction of certain conditions, including, among other
things: (1) the resale occurring not less than one year after the later of the date the securities were sold by the Company or the date they were sold by an affiliate of the Company, within the
meaning of Rule 144; and, in the case of an affiliate, or of a non-affiliate who has held the securities less than two years, (2) the availability of certain public
information about the Company, (3) the sale being made through a broker in an unsolicited "broker's transaction" or in transactions directly with a market maker (as said term is defined under
the Securities Exchange Act of 1934), and (4) the amount of securities being sold during any three month period not exceeding the specified limitations stated therein, if applicable. 

7

 

	(f)
	I
further understand that at the time I wish to sell the Securities there may be no public market upon which to make such a sale, and that, even if such a public market exists, the
Company may not be satisfying the current public information requirements of Rule 144, and that, in such event, I would be precluded from selling the Securities under Rule 144 even if
the one-year minimum holding period had been satisfied.

	(g)
	I
further understand that in the event all of the applicable requirements of Rule 144 are not satisfied, registration under the Securities Act, compliance with
Regulation A, or some other registration exemption will be required; and that, notwithstanding the fact that Rule 144 is not exclusive, the Staff of the SEC has expressed its opinion
that persons proposing to sell private placement securities other than in a registered offering and otherwise than pursuant to Rule 144 will have a substantial burden of proof in establishing
that an exemption from registration is available for such offers or sales, and that such persons and their respective brokers who participate in such transactions do so at their own risk. 

	 	 	Signature of Purchaser
	

 	
 	

	 	 	By:	 
	 	 	 	

	 	 	Title:	 
	 	 	 	

	 	 	Date:	 
	 	 	 	

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WARRANT

EXHIBIT A NOTICE OF EXERCISE

EXHIBIT A TO NOTICE OF EXERCISE SUPERGEN, INC. WARRANT EXERCISE INVESTMENT REPRESENTATION STATEMENT<Page>

                                                                     Exhibit 4.2

                         EAST KANSAS AGRI-ENERGY, L.L.C.
                             SUBSCRIPTION AGREEMENT
                                Membership Units
                                 $1,000 PER UNIT

                       10 UNIT MINIMUM PURCHASE ($10,000)

The undersigned subscriber, desiring to become a member of East Kansas
Agri-Energy, L.L.C. ("EKAE"), a Kansas limited liability company, with its
principal place of business at 20477 S.W. Florida Road, Westphalia, Kansas
66093, hereby subscribes for the purchase of the membership interests of EKAE,
and agrees to pay the related purchase price, identified below.

A.   SUBSCRIBER INFORMATION. Please print your individual or entity name and
address. Joint subscribers should provide their respective names. Your name and
address will be recorded exactly as printed below.

     1.   Subscriber's Printed Name     ________________________________________

     2.   Title, if applicable:         ________________________________________

     3.   Subscriber's Address:

               Street                   ________________________________________

               City, State, Zip Code    ________________________________________

B.   NUMBER OF UNITS PURCHASED. You must purchase at least 10 units. Your
ownership interest may not exceed 25% of all of our outstanding membership
units. Accordingly, assuming that we sell the minimum number of 9,000 Units in
this Offering, you may not purchase more than 4,805 Units. We presently have
1220 Units outstanding.

               -----------------------------

               -----------------------------

C.   PURCHASE PRICE. Indicate the dollar amount of your investment.

<Table>
<S>                                         <C>                                       <C>
      1. TOTAL PURCHASE PRICE         =         2. TEN PERCENT (10%) 1ST       +      3. NINETY PERCENT (90%) 2ND
         --------------------                      ----------------------                -------------------------
($1,000 Per Unit  multiplied  by the                   INSTALLMENT                             INSTALLMENT
number in box B above.)                                -----------                             -----------
                                            (10% of the Total Purchase Price)         (90%  of the  Total  Purchase
                                                                                      Price)
-------------------------------------       ----------------------------------        ------------------------------

                                       =                                         +
-------------------------------------       ----------------------------------        ------------------------------
</Table>

D.       GENERAL INSTRUCTIONS FOR SUBSCRIBERS:

You should read the Prospectus dated [Date of Effectiveness] (the "Prospectus")
in its entirety including financial statements and exhibits for a complete
explanation of an investment in EKAE. To subscribe, you must:

     1.   Complete all information required in this Subscription Agreement, and
date and sign this Subscription Agreement at page 5.

     2.   Complete all information required by the Member Signature Page of the
Operating Agreement, and date and sign the Member Signature Page (the last page
attached to this Subscription Agreement).

     3.   Immediately provide your personal (or business) check for the first
installment of ten percent (10%) of your investment amount made payable to
"GARNETT STATE SAVINGS BANK -- ESCROW AGENT FOR EKAE." You will determine this
amount in box C.2 on page 1 of this Subscription Agreement.

                                       1
<Page>

     4.   Execute the Promissory Note and Security Agreement on page 7 of this
Subscription Agreement evidencing your commitment to pay the remaining ninety
percent (90%) due for the Units that is attached to this Subscription Agreement
and your agreement to grant EKAE a security interest in your membership units.

     5.   Deliver each of the original executed documents referenced in Items 1,
2, and 4 of these Instructions, together with your personal check described in
Item 3 of these Instructions to:

                           Garnett State Savings Bank
                                   5th and Oak
                                  P.O. Box 329
                              Garnett, Kansas 66032

     6.   Secure an additional personal (or business) check for the second
installment of ninety percent (90%) of your investment amount made payable to
"GARNETT STATE SAVINGS BANK -- ESCROW AGENT FOR EKAE" in satisfaction of the
Promissory Note. You will determine this amount in box C.3 on page 1 of this
Subscription Agreement. Deliver this check to the same address set forth above
in Instruction 5 within twenty (20) days of the date of EKAE's written notice
that its sales of Units have exceeded the Minimum Escrow Deposit of $9,000,000.
If you fail to pay the second installment pursuant to the Promissory Note, EKAE
shall be entitled to retain your first installment and to seek other damages, as
provided in the Promissory Note.

Your funds will be placed in EKAE's escrow account at Garnett State Savings
Bank, and the funds will be released to EKAE or returned to you in accordance
with the escrow arrangements described in the Prospectus. If EKAE rejects your
subscription, your Subscription Agreement and investment will be returned to you
within 30 days of such rejection, plus nominal interest, minus escrow fees. EKAE
may not consider the acceptance or rejection of your subscription until a future
date near the end of this Offering.

YOU MAY DIRECT YOUR QUESTIONS TO ONE OF OUR DIRECTORS LISTED BELOW OR TO EKAE AT
(785) 448-9697.

<Table>
<Caption>
                 DIRECTOR            TELEPHONE NUMBER                 DIRECTOR          TELEPHONE NUMBER
                 --------            ----------------                 --------          ----------------
<S>                                   <C>                       <C>                      <C>
         William R. Pracht            (785) 489-2413            Roger Brummel            (785) 448-2995
         Daniel V. Morgan             (785) 867-2318            Jill A. Zimmerman        (785) 448-5968
         Scott A. Burkdoll            (785) 869-3860            Glenn A. Caldwell        (785) 448-4174
         Daniel L. Guetterman         (913) 533-2443            Donald S. Meats          (620) 964-2642
         Douglas L. Strickler         (620) 365-2739            James Westagard          (785) 835-6496
</Table>

E.   ADDITIONAL SUBSCRIBER INFORMATION. The subscriber, named above, certifies
the following under penalties of perjury:

     1.   FORM OF OWNERSHIP. Check the appropriate box (one only) to indicate
          form of ownership. If the subscriber is a Custodian, Corporation,
          Partnership or Trust, please provide the additional information
          requested.

          / /  Individual

          / /  Joint Tenants with Right of Survivorship (Both signatures must
               appear in Item 7)

          / /  Corporation or Partnership (Corporate Resolutions or Partnership
               Agreement must be enclosed)

          / /  IRA

          / /  KEOGH

          / /  Pension or Profit Sharing Plan

          / /  Trust

               Trustee's Name: _________________________________________________

               Trust Date: _____________________________________________________

                                       2
<Page>

          / /  Other: Provide detailed information in the space immediately
               below.

     2.   SUBSCRIBER'S TAXPAYER INFORMATION. Check the appropriate box if you
          are a non-resident alien, a U.S. Citizen residing outside the United
          States or subject to back up withholding. KEOGHS should provide the
          taxpayer identification number of the account and the social security
          number of the accountholder. Trusts should provide their taxpayer
          identification number. Custodians should provide the minor's social
          security number. All individual subscribers and IRA subscribers should
          provide their social security number. Other entities should provide
          their taxpayer identification number.

          / /  Check box if you are a non-resident alien

          / /  Check box if you are a U.S. citizen residing outside of the
               United States

          / /  Check this box if you are subject to backup withholding

          Subscriber's Social Security No. _____________________________________

          Joint Subscriber's Social Security No. _______________________________

          Taxpayer Identification No. __________________________________________

     3.   MEMBER REPORT ADDRESS. If you would like duplicate copies of member
          reports sent to an address that is different than the address
          identified in section A, please complete this section.

          Address: _____________________________________________________________

                   _____________________________________________________________

     4.   STATE OF RESIDENCE.

          State of Principal Residence: ________________________________________

          State where driver's license is issued _______________________________

          State where income taxes are filed ___________________________________

          State(s) in which you have maintained your principal residence during
          the past three years:

<Table>
<S>                                          <C>                              <C>
          ---------------------------------- -------------------------------- --------------------------------

          a.                                 b.                               c.
          ---------------------------------- -------------------------------- --------------------------------
</Table>

     5.   SUITABILITY STANDARDS. You cannot invest in EKAE unless you meet one,
          or more, of the suitability tests set forth below. Please review the
          suitability tests and check the box(es) next to the following
          suitability test that you meet. For husbands and wives purchasing
          jointly, the tests above will be applied on a joint basis.

          / /  I (We) have annual income from whatever source of at least
               $30,000 and a net worth of at least $30,000, exclusive of home,
               furnishings and automobiles; or

          / /  I (We) have a net worth of at least $75,000, exclusive of home,
               furnishings and automobiles.

     6.   SUBSCRIBER'S REPRESENTATIONS AND WARRANTIES. You must read and certify
          your representations and warranties and sign and date this
          Subscription Agreement.

          By signing below the subscriber represents and warrants to EKAE that
          he, she or it:

                                       3
<Page>

          a.   has received a copy of EKAE's Prospectus;

          b.   has been informed that the Units of EKAE are offered and sold in
               reliance upon a federal securities registration, Kansas and
               Missouri securities registrations, and exemptions from securities
               registrations in various other states, and understands that the
               Units to be issued pursuant to this subscription agreement can
               only be sold to a person meeting requirements of suitability;

          c.   has been informed that the securities purchased pursuant to this
               Subscription Agreement have not been registered under the
               securities laws of any state other than the States of Kansas and
               Missouri, and that EKAE is relying in part upon the
               representations of the undersigned Subscriber contained herein;

          d.   has been informed that the securities subscribed for have not
               been approved or disapproved by the Kansas or Missouri Securities
               Departments or any other regulatory authority, nor has any
               regulatory authority passed upon the accuracy or adequacy of the
               Prospectus;

          e.   intends to acquire the Units for his/her/its own account without
               a view to public distribution or resale and that he/she/it has no
               contract, undertaking, agreement or arrangement to sell or
               otherwise transfer or dispose of any Units or any portion thereof
               to any other person;

          f.   understands that there is no present market for EKAE's membership
               units, that the membership units will not trade on an exchange or
               automatic quotation system, that no such market is expected to
               develop in the future and that there are significant restrictions
               on the transferability of the membership units;

          g.   has received a copy of the EKAE Operating Agreement, and
               understands that upon closing the escrow by EKAE, the subscriber
               and the membership units will be bound by the provisions of the
               Operating Agreement which contains, among other things,
               provisions that restrict the transfer of membership units;

          h.   understands that the Units are subject to substantial
               restrictions on transfer under state securities laws along with
               restrictions in the EKAE Operating Agreement and agrees that if
               the membership units or any part thereof are sold or distributed
               in the future, the subscriber shall sell or distribute them
               pursuant to the terms of the Operating Agreement, and the
               requirements of the Securities Act of 1933, as amended, and
               applicable state securities laws;

          i.   meets the suitability test marked in Item 6 above and is capable
               of bearing the economic risk of this investment, including the
               possible total loss of the investment;

          j.   understands that EKAE will place a restrictive legend on any
               certificate representing any unit containing substantially the
               following language as the same may be amended by the Directors of
               EKAE in their sole discretion:

                    THE TRANSFERABILITY OF THE UNITS REPRESENTED BY THIS
                    CERTIFICATE IS RESTRICTED. SUCH UNITS MAY NOT BE SOLD,
                    ASSIGNED, OR TRANSFERRED, NOR WILL ANY ASSIGNEE, VENDEE,
                    TRANSFEREE, OR ENDORSEE THEREOF BE RECOGNIZED AS HAVING
                    ACQUIRED ANY SUCH UNITS FOR ANY PURPOSES, UNLESS AND TO THE
                    EXTENT SUCH SALE, TRANSFER, HYPOTHECATION, OR ASSIGNMENT IS
                    PERMITTED BY, AND IS COMPLETED IN STRICT ACCORDANCE WITH,
                    APPLICABLE STATE AND FEDERAL LAW AND THE TERMS AND
                    CONDITIONS SET FORTH IN THE AMENDED AND RESTATED OPERATING
                    AGREEMENT AS AGREED TO BY EACH MEMBER.

                    THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE
                    SOLD, OFFERED FOR SALE, OR TRANSFERRED IN THE ABSENCE OF
                    EITHER AN EFFECTIVE REGISTRATION UNDER THE SECURITIES ACT OF
                    1933, AS AMENDED, AND UNDER APPLICABLE STATE SECURITIES
                    LAWS, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY
                    THAT SUCH TRANSACTION IS EXEMPT FROM REGISTRATION UNDER THE
                    SECURITIES ACT OF 1933, AS AMENDED, AND UNDER APPLICABLE
                    STATE SECURITIES LAWS.

          k.   understands that, to enforce the above legend, EKAE may place a
               stop transfer order with its registrar and stock transfer agent
               (if any) covering all certificates representing any of the
               membership units;

          l.   has knowledge and experience in business and financial matters as
               to be able to evaluate the merits and risks of an investment in
               the Units, believes that the investment in Units is suitable

                                       4
<Page>

               for the subscriber and can bear the economic risk of the purchase
               of Units including the total loss of the undersigned's
               investment;

          m.   may not transfer or assign this subscription agreement, or any of
               the subscriber's interest herein;

          n.   has written his, her, or its correct taxpayer identification
               number under Item 3 on this subscription agreement;

          o.   is not subject to back up withholding either because he, she or
               it has not been notified by the Internal Revenue Service ("IRS")
               that he, she or it is subject to backup withholding as a result
               of a failure to report all interest or dividends, or the IRS has
               notified him, her or it that he is no longer subject to backup
               withholding (Note this clause (p) should be crossed out if the
               backup withholding box in Item 3 is checked);

          p.   understands that execution of the attached Promissory Note will
               allow EKAE or its assigns to pursue the obligor for payment of
               the amount due thereon by any legal means, including, but not
               limited to, acquisition of a judgment against the obligor in the
               event that the subscriber defaults on that Promissory Note; and

          q.   Acknowledges that EKAE may retain possession of certificates
               representing subscriber's Units to perfect its security interest
               in those Units.

SIGNATURE OF SUBSCRIBER/ JOINT SUBSCRIBER:

DATE:     __________________________________

<Table>
<S>                                               <C>
INDIVIDUALS:                                                           ENTITIES:

____________________________________________      ____________________________________________
Name of Individual Subscriber (Please Print)      Name of Entity (Please Print)

____________________________________________      ____________________________________________
Signature of Individual                           Print Name and Title of Officer

____________________________________________      ____________________________________________
Name of Joint Individual Subscriber               Signature of Officer
(Please Print)

____________________________________________
Signature of Joint Individual Subscriber
</Table>

                                       5
<Page>

         ACCEPTANCE OF SUBSCRIPTION BY EAST KANSAS AGRI-ENERGY, L.L.C.:

East Kansas Agri-Energy, L.L.C. hereby accepts the subscription for the above
Units.

Dated this ___ day of _______________________, 200_.

EAST KANSAS AGRI-ENERGY, L.L.C.

By: _______________________________________

Its: ______________________________________

                                       6
<Page>

                     PROMISSORY NOTE AND SECURITY AGREEMENT

Date of Subscription Agreement: ___________________________________, 200_.

                                 $1,000 PER UNIT
                       10 UNIT MINIMUM PURCHASE ($10,000)

_____________________ Number of Units subscribed

_____________________ Total Purchase Price ($1,000 per Unit multiplied by number
                      of Units subscribed)

(                   ) Less Initial Payment (10% of Principal Amount)
---------------------

_____________________ Principal Balance

FOR VALUE RECEIVED, the undersigned hereby promises to pay to the order of East
Kansas Agri-Energy, L.L.C., a Kansas limited liability company ("EKAE"), at its
principal office located at 20477 S.W. Florida Road, Westphalia, Kansas 66093,
or at such other place as required by EKAE, the Principal Balance set forth
abovein one lump sum to be paid without interest within 20 days following the
call of the EKAE Board of Directors, as described in the Subscription Agreement.
In the event the undersigned fails to timely make any payment owed, the entire
balance of any amounts due under this full recourse Promissory Note shall be
immediately due and payable in full with interest at the rate of 12% per annum
from the due date and any amounts previously paid in relation to the obligation
evidenced by this Promissory Note may be forfeited at the discretion of EKAE.

The undersigned agrees to pay to EKAE on demand, all costs and expenses incurred
to collect any indebtedness evidenced by this Promissory Note, including,
without limitation, reasonable attorneys' fees. This Promissory Note may not be
modified orally and shall in all respects be governed by, construed, and
enforced in accordance with the laws of the State of Kansas.

The provisions of this Promissory Note shall inure to the benefit of EKAE and
its successors and assigns, which expressly reserves the right to pursue the
undersigned for payment of the amount due thereon by any legal means in the
event that the undersigned defaults on obligations provided in this Promissory
Note.

The undersigned waives presentment, demand for payment, notice of dishonor,
notice of protest, and all other notices or demands in connection with the
delivery, acceptance, performance or default of this Promissory Note.

The undersigned grants to EKAE, and its successors and assigns ("Secured
Party"), a purchase money security interest in all of the undersigned's
Membership Units of EKAE now owned or hereafter acquired. This security interest
is granted as non-exclusive collateral to secure payment and performance on the
obligation owed Secured Party from the undersigned evidenced by this Promissory
Note. The undersigned further authorizes Secured Party to retain possession of
certificates representing such Membership Units and to take any other actions
necessary to perfect the security interest granted herein.

Dated:                   , 200 .

<Table>
<S>                                               <C>
OBLIGOR/DEBTOR:                                   JOINT OBLIGOR/DEBTOR:

____________________________________________      ____________________________________________
Printed or Typed Name of Joint Obligor            Printed or Typed Name of Obligor

By: ________________________________________      By: ________________________________________
    (Signature)                                       (Signature)

____________________________________________
Officer Title if Obligor is an Entity

____________________________________________

____________________________________________
Address of Obligor
</Table>

                                       7
<Page>

                              MEMBER SIGNATURE PAGE

                                     ADDENDA
                                     TO THE
                         EAST KANSAS AGRI-ENERGY, L.L.C.
                    AMENDED AND RESTATED OPERATING AGREEMENT

The undersigned does hereby represent and warrant that the undersigned, as a
condition to becoming a Member in East Kansas Agri-Energy, L.L.C. (the
"Company"), has received a copy of the Amended and Restated Operating Agreement,
dated March 13, 2002, and, if applicable, all amendments and modifications
thereto, and does hereby agree that the undersigned, along with the other
parties to the Amended and Restated Operating Agreement, shall be subject to and
comply with all terms and conditions of said Amended and Restated Operating
Agreement in all respects as if the undersigned had executed said Amended and
Restated Operating Agreement on the original date thereof and that the
undersigned is and shall be bound by all of the provisions of said Agreement
from and after the date of execution hereof.

<Table>
<S>                                               <C>
INDIVIDUALS:                                                           ENTITIES:

____________________________________________      ____________________________________________
Name of Individual Subscriber (Please Print)      Name of Entity (Please Print)

____________________________________________      ____________________________________________
Signature of Individual                           Print Name and Title of Officer

____________________________________________      ____________________________________________
Name of Joint Individual Subscriber               Signature of Officer
(Please Print)

____________________________________________
Signature of Joint Individual Subscriber

Agreed and accepted on behalf of the
Company and its Members:

EAST KANSAS AGRI-ENERGY, L.L.C.

By: ________________________________________

Its: _______________________________________
</Table>

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