Document:

exv4w2

 

Exhibit 4.2

E ENERGY ADAMS, LLC

SUBSCRIPTION AGREEMENT

Limited Liability Company Membership Units

$10,000 per Unit

Minimum Investment of 2 Units ($20,000)

1 Unit Increments Thereafter ($10,000)

The undersigned subscriber (“Subscriber”), desiring to become a member of E Energy Adams, LLC (“E
Energy Adams”), a Nebraska limited liability company, with its principal place of business at 510
Main Street, P.O. Box 49, Adams, Nebraska 68301 hereby subscribes for the purchase of membership
units of E Energy Adams, and agrees to pay the related purchase price, identified below.

A. SUBSCRIBER INFORMATION. Please print your individual or entity name and address. If we accept
your subscription, the units will be titled in the name of the subscriber as it appears below.
Joint subscribers should provide both names. Your name and address will be recorded exactly as
printed below. Please provide your home, business and/or mobile telephone number. If desired,
please also provide your e-mail address.

	 	 	 	 	 	 	 	 	 
	 

	 	 	1.	 	 	Subscriber’s Printed Name	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	2.	 	 	Title, if applicable	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	3.	 	 	Subscriber’s Address	 	 
	 

	 	 	 	 	 	     Street	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	     City, State, Zip Code	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	4.	 	 	E-mail Address (optional)	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	5.	 	 	Home Telephone Number	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	6.	 	 	Business Telephone Number	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	7.	 	 	Mobile Telephone Number	 	 
	 

	 	 	 	 	 	 	 	 

B. NUMBER OF UNITS PURCHASED. You must purchase at least 2 units. Your ownership interest may not
exceed 40% of our outstanding membership units. We currently have 194 units outstanding.
Accordingly, assuming that we sell the minimum number of 1,990 units in this offering, you may not
purchase more than 873 units. The maximum number of units to be sold in the offering is 5,810.

	 	 	 	 	 	 	 	 	 
	 
	units
	 	 	 	 
	 
	 	 	 	 	 	 	 

	C.	 	PURCHASE PRICE. Indicate the dollar amount of your investment (minimum investment is
$20,000).

	 	 	 	 	 	 	 	 	 
	1.
Total Purchase Price

($10,000 per unit multiplied

by number of units)

	 	=
	 	2.
1st
Installment

(10% of Total Purchase Price)
	 	+
	 	3.
2nd
Installment

(90% of Total Purchase Price)
	 

	 	=
	 	 

	 	+
	 	 

D. GENERAL INSTRUCTIONS FOR SUBSCRIBERS:

You should read the Prospectus dated [DATE OF EFFECTIVENESS] (the “Prospectus”) in its entirety
including the exhibits for a complete explanation of an investment in E Energy Adams.

INSTRUCTIONS IF YOU ARE SUBSCRIBING PRIOR TO THE COMPANY’S RELEASE OF FUNDS FROM ESCROW:
If you are subscribing prior to the Company’s release of funds from escrow, you must follow the
instructions contained in paragraphs 1 through 5 below:

     1. Complete all information required in this Subscription Agreement, and date and sign the
Subscription Agreement on page 6 and the Member Signature Page to our Operating Agreement attached
to this Subscription Agreement as Exhibit A.

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     2. Immediately provide a personal (or business) check for the first installment of ten percent
(10%) of your investment amount. The check should be made payable to “Union Bank & Trust Company,
escrow agent for E Energy Adams, LLC.” You will determine this amount in box C.2 on page 1 of this
Subscription Agreement.

     3. 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. The
Promissory Note and Security Agreement is attached to this Subscription Agreement and grant E
Energy Adams, LLC a security interest in your units.

     4. Deliver the original executed documents referenced in paragraphs 1 and 3 of these
instructions, together with a personal or business check as described in Paragraph 2 of these
instructions to:

E Energy Adams, LLC

510 Main Street, P.O. Box 49

Adams, Nebraska 68301

     5. Within 20 days of written notice from E Energy Adams that your subscription has been
accepted, you must remit an additional personal (or business) check for the second installment of
ninety percent (90%) of your investment amount made payable to “Union Bank & Trust Company, escrow
agent for E Energy Adams, LLC” in satisfaction of the Promissory Note and Security Agreement. You
will determine this amount in box C.3 on page 1 of this Subscription Agreement. You must deliver
this check to the same address set forth above in paragraph 4 within twenty (20) days of the date
of E Energy Adams’s written notice. If you fail to pay the second installment pursuant to the
Promissory Note and Security Agreement, E Energy Adams shall be entitled to retain your first
installment and to seek other damages, as provided in the Promissory Note and Security Agreement.
This means that if you are unable to pay the 90% balance of your investment amount within 20 days
of our notice, you may have to forfeit the 10% cash deposit.

     Your funds will be placed in E Energy Adams’s escrow account at Union Bank & Trust Company,
NA. The funds will be released to E Energy Adams or returned to you in accordance with the escrow
arrangements described in the Prospectus. E Energy Adams may, in its sole discretion, reject or
accept any part or all of your subscription. If E Energy Adams rejects your subscription, your
Subscription Agreement and investment will be promptly returned to you, plus nominal interest,
minus escrow fees. E Energy Adams may not consider the acceptance or rejection of your
subscription until a future date near the end of this offering.

INSTRUCTIONS IF YOU ARE SUBSCRIBING AFTER THE COMPANY’S RELEASE OF FUNDS FROM ESCROW: If
you are subscribing after the Company’s release of funds from escrow, you must follow the
instructions contained in paragraphs 1 through 3 below:

     1. Complete all information required in this Subscription Agreement, and date and sign the
Subscription Agreement on page 6 and the Member Signature Page to our Operating Agreement attached
to this Subscription Agreement as Exhibit A.

     2. Immediately provide your personal (or business) check for the entire amount of your
investment (as determined in box C.1 on page 1) made payable to “E Energy Adams, LLC.”

     3. Deliver the original executed documents referenced in paragraph 1 of these instructions,
together with your personal or business check as described in paragraph 2 to:

E Energy Adams, LLC

510 Main Street, P.O. Box 49

Adams, Nebraska 68301

     If you are subscribing after we have released funds from escrow and we accept your investment,
your funds will be immediately at-risk as described in the Prospectus. E Energy Adams may, in its
sole discretion, reject or accept any part or all of your subscription. If E Energy Adams rejects
your subscription, your Subscription Agreement and investment will be returned to you promptly,
plus nominal interest, minus escrow fees. E Energy

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Adams 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 either of our directors listed below or to E Energy Adams at (402)
988-4655.

	 	 	 	 	 
	Director	 	Position	 	Phone Number
	Jack Alderman

Donald “Bud” Olsson
	 	Chairman, President

Director
	 	608-372-5755

402-323-1630

E. Additional Subscriber Information. 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.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	o	 	Individual	 	 	 	 
	 	 	 	 	 	 	o	 	Joint Tenants with Right of Survivorship (Both signatures must appear on page 6.)
	 	 	 	 	 	 	o	 	Corporation, Limited Liability Company or Partnership
(Corporate Resolutions, Operating Agreement or Partnership Agreement must be
enclosed.)
	 

	 	 	 	 	 	o
	 	Trust	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	Trustee’s Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	Trust Date:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	o	 	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, and/or subject
to backup withholding. All individual subscribers should provide their Social Security
Numbers. Trusts should provide the trust’s taxpayer identification number. Custodians
should provide the minor’s Social Security Number. Other entities should provide the
entity’s taxpayer identification number.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	o	 	Check box if you are a non-resident alien	 	 
	 	 	 	 	 	 	o	 	Check box if you are a U.S. citizen residing outside of the United States	 	 
	 	 	 	 	 	 	o	 	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 resident income taxes are
filed:	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

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

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	a.
	 	 	b.
	 	 	c.
	 	 	 	 	 	 	 	 	 	 

3

 

	 	 	 	 	 	 	 	 	 
	 	 	5.	 	Suitability Standards. You cannot invest in E Energy Adams unless you meet one
of the following suitability tests (a or b) set forth below. Please review the
suitability tests and check the box next to the following suitability test that you
meet. For husbands and wives purchasing jointly, the tests below will be applied on a
joint basis.
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	a.	 	o	 	I (We) have annual income
from whatever source of at least $45,000 and a net worth of at
least $45,000, exclusive of home, furnishings and automobiles; or
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	b.	 	o	 	I (We) have a net worth of at least
$100,000, exclusive of home, furnishings and automobiles.
	 
	 	 	 	 	 	 	 	 
	 	 	6.	 	Subscriber’s Representations and Warranties. You must read and certify your
representations and warranties by placing your initials where indicated and by signing
and dating this Subscription Agreement. Joint subscribers are also required to initial
and sign as indicated.
	 
	 	 	 	 	 	 	 	 
	(Initial here)	 	By signing below the subscriber represents and warrants to E Energy Adams that he,
she or it:
	 
	 	 	 	 	 	 	 	 

	 	 	 	 	 
	                    

	 	a.
	 	has received a copy of E Energy Adams’s Prospectus dated [DATE
OF EFFECTIVENESS] and the exhibits thereto;
	 
	 	 	 	 
	                    

	 	b.
	 	has been informed that the units of E Energy Adams are offered
and sold in reliance upon a federal securities registration; state
registrations in Nebraska, Iowa, Kansas, Missouri, Wisconsin, South Dakota and
Florida; 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 Nebraska, Iowa, Kansas, Missouri, Wisconsin, South
Dakota and Florida and that E Energy Adams 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 SEC, or the Nebraska, Iowa, Kansas,
Missouri, Wisconsin, South Dakota and Florida 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 E Energy
Adams’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 been encouraged to rely upon the advice of his legal
counsel and accountants or other financial advisers with respect to the tax and
other considerations relating to the purchase of units;
	 
	 	 	 	 
	                    

	 	h.
	 	has received a copy of the E Energy Adams Operating Agreement,
dated April 25, 2005, and understands that upon closing the escrow by E Energy
Adams, 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;
	 
	 	 	 	 
	                    

	 	i.
	 	understands that the units are subject to substantial
restrictions on transfer under certain tax and securities laws along with
restrictions in the E Energy Adams 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 tax and securities laws;
	 
	 	 	 	 
	                    

	 	j.
	 	meets the suitability test marked in Item E.5 above and is
capable of bearing the economic risk of this investment, including the possible
total loss of the investment;

4

 

	 	 	 	 	 
	                    

	 	k.
	 	understands that E Energy Adams 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 E Energy Adams 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 OPERATING
AGREEMENT.
	 
	 	 	 	 
	 

	 	 	 	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.
	 
	 	 	 	 
	                    

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

	 	m.
	 	has examined the information presented in the Prospectus and
exhibits and is competent to evaluate and establish that the investment is
consistent with the subscriber’s risk tolerance and investment goals such that
the subscriber can bear the economic risk of the purchase of units including
the total loss of the undersigned’s investment;
	 
	 	 	 	 
	                    

	 	n.
	 	may not transfer or assign this Subscription Agreement, or any
of the subscriber’s interest herein without the prior written consent of E
Energy Adams;
	 
	 	 	 	 
	                    

	 	o.
	 	has written his, her, or its correct taxpayer identification
number under Item E.2 on this Subscription Agreement;
	 
	 	 	 	 
	                    

	 	p.
	 	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 E.2 is checked);
	 
	 	 	 	 
	                    

	 	q.
	 	understands that execution of the attached Promissory Note and
Security Agreement will allow E Energy Adams 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 Security Agreement;
and
	 
	 	 	 	 
	                    

	 	r.
	 	acknowledges that E Energy Adams may retain possession of
certificates representing subscriber’s units to perfect its security interest
in those units.

5

 

     Signature of Subscriber/Joint Subscriber:

	 	 	 	 	 
	Date:

	 	 	 	 
	 

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

ACCEPTANCE OF SUBSCRIPTION BY E ENERGY ADAMS, LLC:

E Energy Adams, LLC hereby accepts Subscriber’s subscription for                                                            units.

Dated this                                        day of                                        , 200                    .

E ENERGY ADAMS, LLC

	 	 	 	 	 
	By:

	 	 
 

	 	 
	 
	 	 	 	 
	Its:

	 	 	 	 
	 

	 	 	 	 

6

 

PROMISSORY NOTE AND SECURITY AGREEMENT

Date of Subscription Agreement:                                         200                    .

$10,000 per Unit

Minimum Investment of 2 Units ($20,000); Units Sold in 1 Unit Increments Thereafter ($10,000 each)

	 	 	 
	 
 

	 	Number of Units Subscribed 
	 
	 	 
	 
 

	 	Total Purchase Price ($10,000 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 E Energy Adams, LLC, a
Nebraska limited liability company (“E Energy Adams”), at its principal office located 510 Main
Street, P.O. Box 49, Adams, Nebraska 68301, or at such other place as required by E Energy Adams,
the Principal Balance set forth above in one lump sum to be paid without interest within 20 days
following the call of the E Energy Adams 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 and Security Agreement 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 and
Security Agreement may be forfeited at the discretion of E Energy Adams.

The undersigned agrees to pay to E Energy Adams on demand, all costs and expenses incurred to
collect any indebtedness evidenced by this Promissory Note and Security Agreement, including,
without limitation, reasonable attorneys’ fees. This Promissory Note and Security Agreement 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 Nebraska.

The provisions of this Promissory Note and Security Agreement shall inure to the benefit of E
Energy Adams 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 and Security Agreement.

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 and Security Agreement.

The undersigned grants to E Energy Adams, and its successors and assigns (“Secured Party”), a
purchase money security interest in all of the undersigned’s membership units of E Energy Adams 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 and Security Agreement. 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:                                        , 2005                    .	 	 	 	 
	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	 	 	 	 

7

 

Exhibit A

MEMBER SIGNATURE PAGE

ADDENDA

TO THE

OPERATING AGREEMENT OF

E ENERGY ADAMS, LLC

     The undersigned does hereby represent and warrant that the undersigned, as a condition to
becoming a Member in E Energy Adams, LLC, has received a copy of the Operating Agreement, dated
April 25, 2005, and, if applicable, all amendments and modifications thereto, and does hereby agree
that the undersigned, along with the other parties to the Operating Agreement, shall be subject to
and comply with all terms and conditions of said Operating Agreement in all respects as if the
undersigned had executed said Operating Agreement on the original date thereof and that the
undersigned is and shall be bound by all of the provisions of said Operating Agreement from and
after the date of execution hereof.

	 	 	 	 	 
	Individuals:	 	Entities:
	 
	 	 	 	 
	 	 	 
	Date

	 	 	 	Date
	 
	 	 	 	 
	 	 	 
	Name of Individual Member (Please Print)	 	Name of Entity (Please Print)
	 
	 	 	 	 
	 	 	 
	Signature of Individual	 	Print Name and Title of Officer
	 
	 	 	 	 
	 	 	 
	Name of Joint Individual Member (Please Print)	 	Signature of Officer
	 
	 	 	 	 
	 	 	 
	Signature of Joint Individual Member	 	 
	 
	 	 	 	 
	Agreed to and accepted on behalf of the

Company and its Members:	 	 
	 
	 	 	 	 
	E ENERGY ADAMS, LLC	 	 
	 
	 	 	 	 
	By:

	 	 
 

	 	 
	 
	 	 	 	 
	Its:

	 	 
 

	 	 
	 
	 	 	 	 
	Date:exv4w3

 

Exhibit 4.3

ESCROW AGREEMENT

     THIS ESCROW AGREEMENT (this “Agreement”) is made this ___day of October, 2005, by and between
E Energy Adams, LLC a Nebraska limited liability company (“E Energy Adams”) and Union Bank & Trust
Company as escrow agent (the “Escrow Agent”).

W I T N E S S E T H:

     WHEREAS, E Energy Adams proposes to offer a minimum of 1,990 and a maximum of 5,810 of its
Membership Units (the “Units”) at a price of $10,000 per Unit, in minimum blocks of two (2) Units
in an offering registered with the Securities and Exchange Commission and in the states of
Nebraska, Iowa, Kansas, Missouri, Wisconsin, South Dakota and Florida, and possibly offered in
other states pursuant to state securities registration exemptions and under the provisions of the
Securities Act of 1933, as amended (the “Offering”);

     WHEREAS, E Energy Adams will file a registration statement to register the Units with the
Securities and Exchange Commission, the States of Nebraska, Iowa, Kansas, Missouri, Wisconsin,
South Dakota and Florida, and possibly other states;

     WHEREAS, E Energy Adams will allow investors in the Offering to deliver the purchase price of
the subscribed Units in installments; and

     WHEREAS, E Energy Adams desires to comply with the requirements of federal and state
securities laws and regulations, and desires to protect the investors in the Offering by providing,
under the terms and conditions herein set forth, for the return to subscribers of the money which
they may pay on account of purchases of Units in the Offering if the Minimum Escrow Deposit
(hereinafter defined) is not deposited with the Escrow Agent.

     NOW, THEREFORE, in consideration of the mutual covenants herein contained and for other good
and valuable consideration, the receipt and sufficiency of which is acknowledged, the parties agree
as follows:

     1. Acceptance of Appointment. Union Bank & Trust Company hereby agrees to act as
Escrow Agent under this Agreement. The Escrow Agent shall have no duty to enforce any provision
hereof requiring performance by any other party hereunder.

     2. Establishment of Escrow Account. An escrow account (the “Escrow Account”) is
hereby established with the Escrow Agent for the benefit of the investors in the Offering. Except
as specifically provided in this Agreement, the Escrow Account shall be created and maintained
subject to the customary rules and regulations of the Escrow Agent pertaining to such accounts.

     3. Ownership of Escrow Account. Until such time as the funds deposited in the Escrow
Account (the “Deposited Funds”) shall equal the Minimum Escrow Deposit (as hereinafter defined),
all funds deposited in the Escrow Account by E Energy Adams shall not become the property of E
Energy Adams or be subject to the debts of E Energy Adams or any other person but shall be held by
the Escrow Agent solely for the benefit of the investors who have purchased Units in the Offering.

1

 

     4. Deposit of Proceeds. All proceeds from sales of Units in the Offering shall be
delivered by E Energy Adams to the Escrow Agent, within forty-eight hours of the receipt thereof
from investors, endorsed (if appropriate) to the order of the Escrow Agent, together with an
appropriate written statement setting forth name, address and social security number of each person
purchasing Units, the number of Units purchased, and the amount paid by each such purchaser. Any
such proceeds deposited with the Escrow Agent in the form of uncollected checks shall be promptly
presented by the Escrow Agent for collection through customary banking and clearing house
facilities. As the proceeds of each sale are deposited with the Escrow Agent, E Energy Adams shall
reserve the number of Units confirmed to the purchaser thereof in connection with such sale. All
such deposited proceeds are referred to herein as the “Escrow Funds”.

     5. Investment of Escrow Account. The Escrow Funds shall be credited by the Escrow
Agent and recorded in the Escrow Account. The Escrow Agent shall be permitted, and is hereby
authorized to deposit, transfer, hold and invest all funds received under this Agreement, including
principal and interest, in those investments directed, in writing by E Energy Adams. The Escrow
Agent is hereby authorized to invest Escrow Funds in the Federated Treasury Obligations Money
Market Mutual Fund for temporary investment without written direction. Any interest received by
the Escrow Agent with respect to the Escrow Funds shall be paid to E Energy Adams, or the
investors, as indicated elsewhere in this Agreement .

     6. Termination of Escrow. This Agreement and the Escrow created hereunder shall
be terminated as provided in paragraph 7 hereof or as of the date in calendar year 2007 (the
“Termination Date”), which is one year and one day following the date in calendar year 2006 upon
which the Securities and Exchange Commission authorizes the Offering (the “Offering’s Effective
Date”), provided; however, that if prior to Termination Date, the Company has sold membership units
equal to the minimum offering amount and the Company has advised the purchasers of those membership
units to remit to the Escrow Agent the balance of the purchase price, then the Escrow may continue
beyond the Termination Date until all Funds have been paid and the conditions for releasing the
Funds have been satisfied. In no event shall this date be later than three (3) months following
the Termination Date. The Company shall notify Escrow Agent of the Offering’s Effective Date
within thirty (30) days of the receipt of notice of the Offering’s Effective Date from the
Securities and Exchange Commission.

     7. Disposition of Escrow Funds. The Escrow Agent shall have the following duties and
obligations under this Agreement:

     A. The Escrow Agent shall send a written notice acknowledging the receipt of the Deposited
Funds every seven days to the Company.

     B. The Escrow Agent shall give the Company prompt written notice when the Deposited Funds
equal $1,990,000 (exclusive of interest). Following receipt of such notice, the Company will
advise the purchasers of Units to remit to the Escrow Agent the balance of the purchase price
within twenty (20) days. Thereafter, Escrow Agent shall give the Company written notice
acknowledging the receipt of the Deposited Funds every seven days. The Escrow Agent

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shall give the
Company prompt written notice when the Deposited Funds total $19,900,000 (exclusive of interest).

     C. At the time (and in the event) that: (a) the Deposited Funds shall, during the term of this
Agreement, equal $19,990,000 in subscription proceeds (exclusive of interest) (the “Minimum Escrow
Deposit”); (b) the Escrow Agent shall have received written confirmation from the Company that the
Company has obtained a written debt financing commitment for debt financing ranging from a minimum
of $23,930,000 to a maximum of $62,130,000; (c) the Company has affirmatively elected in writing
to terminate this Agreement; (d) the Escrow Agent shall have provided to each state securities
department in which the Company has registered its securities for sale an affidavit stating that
the foregoing requirements (a), (b) and (c) of this subsection 7C have been satisfied; and (e) the
state securities commissioners have consented to release of the funds on deposit, then this
Agreement shall terminate, and the Escrow Agent shall promptly disburse the funds on deposit,
including interest, to the Company to be used in accordance with the provisions set out in the
Registration Statement. The Company will deliver a copy of the Registration Statement to the
Escrow Agent upon execution of this Agreement. The Escrow Agent will have no responsibility to
examine the Registration Statement with regard to the Escrow Account or otherwise. Upon the making
of such disbursement, the Escrow Agent shall be completely discharged and released of any and all
further responsibilities hereunder.

     D. In the event the Deposited Funds do not equal or exceed the Minimum Escrow Deposit on or
before the Termination Date or if the Company has not received a written debt financing commitment
as described herein on or before the Termination Date, the Escrow Agent shall return to each of the
purchasers of the Units in the Offering, as promptly as possible after such Termination Date and on
the basis of its records pertaining to the Escrow Account: (a) the sum which each purchaser
initially paid in on account of purchases of the Units in the Offering and (b) each purchaser’s
portion of the total interest earned on the Escrow Account as of the Termination Date, (c) reduced
by the transaction fees provided in paragraph 10 hereof. Computation of any purchaser’s share of
the net interest earned will be a weighted average based on the proportion of such purchaser’s
deposit in the Escrow Account from the Offering to all such purchasers’ deposits held by the Escrow
Agent and upon the length of time in days such deposit was held in the Escrow Account as compared
to all such deposits. All computations with respect to each purchaser’s allocable share of net
interest shall be made by the Escrow Agent, which determinations shall be final and conclusive.
Any amount paid or payable to a purchaser pursuant to this paragraph shall be deemed to be the
property of such purchaser, free and clear of any and all claims of the Company or its agents or
creditors; and the respective purchases of the Units made and entered into in the Offering shall
thereupon be deemed, ipso facto, to be cancelled without any further liability of the purchasers or
any of them to pay for the Units purchased. At such time as the Escrow Agent shall have made all
the payments called for in this paragraph, the Escrow Agent shall be completely discharged and
released of any and all further responsibilities hereunder, and the Units reserved (as provided in
paragraph 5) shall be released from such reservation, except that Escrow Agent shall be required to
prepare and issue a single IRS Form 1099 to each investor in the event that funds are returned to
investors.

     8. Agreement with Escrow Agent. To induce Escrow Agent to act hereunder, it is agreed
by E Energy Adams that:

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     A. The sole duty of the Escrow Agent, other than as herein specified, shall be to receive the
Escrow Funds and hold them subject to release, in accordance herewith, and the Escrow Agent shall
be under no duty to determine whether E Energy Adams is complying with the requirements of this
Agreement in tendering to the Escrow Agent said proceeds of the sale of said Units. The Escrow
Agent may conclusively rely upon and shall be protected in acting upon any statement, certificate,
notice, request, consent, order or other document believed by it to be genuine and to have been
signed or presented by the proper party or parties. The Escrow Agent shall have no duty or
liability to verify any such statement, certificate, notice, request, consent, order or other
document, and its sole responsibility shall be to act only as expressly set forth in this
Agreement. The Escrow Agent shall be under no obligation to institute or defend any action, suit
or proceeding in connection with this Agreement unless first indemnified to its satisfaction. The
Escrow Agent may consult counsel in respect of any question arising under this Agreement and the
Escrow Agent shall not be liable for any action taken or omitted in good faith upon advice of such
counsel.

     B. E Energy Adams hereby indemnifies and holds harmless the Escrow Agent from and against any
and all loss, liability, cost, damage and expense, including, without limitation, reasonable
counsel fees, which the Escrow Agent may suffer or incur by reason of any action, claim or
proceeding brought against the Escrow Agent arising out of or relating in any way to this Agreement
or any transaction to which this Agreement relates unless such action, claim or proceeding is the
result of the gross negligence or willful misconduct of the Escrow Agent.

     9. Resignation and Removal of Escrow Agent Successors. The Escrow Agent may resign
upon thirty (30) days advance written notice to E Energy Adams. If a successor Escrow Agent is not
appointed within the 30-day period following such notice, Escrow Agent may petition any court of
competent jurisdiction to name a successor Escrow Agent. Any commercial banking institution or
trust company with which Escrow Agent may merge or consolidate, and any commercial banking
institution or trust company to which Escrow Agent transfers all or substantially all of its
corporate trust business shall be the successor Escrow Agent without further act.

     10. Fees and Expenses of Escrow Agent. In the event the Deposited Funds do not equal
or exceed the Minimum Escrow Deposit before the Termination Date the Escrow Agent shall be entitled
to a fee of $10.00 per purchaser, which fees shall be paid from interest on the escrow account only
and not from principal. The fee agreed upon in the event of termination of the escrow without the
required Minimum Escrow Deposit and the continued deposit of said escrow in the investment set
forth in paragraph 5 herein is intended as full consideration for the Escrow Agent’s services as
contemplated by this Agreement; provided, however, that in the event the Escrow
Agent renders any material service not contemplated in this Agreement or there is any assignment of
interest in the subject matter of this Agreement, or any material modification hereof; or if any
material controversy arises hereunder, or the Escrow Agent is made a party to any litigation
pertaining to this Agreement, or the subject matter hereof, then the Escrow Agent shall be
reasonably compensated for such extraordinary services and reimbursed for all costs and expenses,
including reasonable attorney’s fees, occasioned by any delay, controversy, litigation or event,
and the same shall be recoverable from E Energy Adams, but not from the escrow account.

4

 

     11. Notices. All notices, requests, demands, and other communications under this
Agreement shall be in writing and shall be deemed to have been duly given (a) on the date of
service if served personally on the party to whom notice is to be given, (b) on the day of
transmission if sent by facsimile transmission to the facsimile number given below, and telephonic
confirmation of receipt is obtained promptly after completion of transmission, (c) on the next day
on which such deliveries are made in Adams, Nebraska, when delivery is to Federal Express or
similar overnight courier or the Express Mail service maintained by the United States Postal
Service, or (d) on the fifth day after mailing, if mailed to the party to whom notice is to be
given, by first class mail, registered or certified, postage prepaid, and properly addressed,
return receipt requested, to the party as follows:

          If to Escrow Agent:

Union Bank & Trust Company

6801 S. 27th Street

P.O. Box 82535

Lincoln, Nebraska 68501-2535

Attn: Ralene Klostemeyer

          If to E Energy Adams:

E Energy Adams Adams, LLC

510 Main Street

P.O. Box 49

Adams, Nebraska 68301

Attn: Jack L. Alderman, President

Fax: 402-988-5205

          with a required copy to:

Brown, Winick, Graves, Gross, Baskerville and Schoenebaum, P.L.C.

666 Grand Avenue, Suite 2000

Des Moines, IA 50309

Attention: Valerie D. Bandstra

Fax: (515) 283-0231

     12. Governing Law. This Agreement shall be construed, performed, and enforced in
accordance with, and governed by, the internal laws of the State of Nebraska, without giving effect
to the principles of conflict of laws thereof.

     13. Successors and Assigns. Except as otherwise provided in this Agreement, no party
hereto shall assign this Agreement or any rights or obligations hereunder without the prior written
consent to the other parties hereto and any such attempted assignment without such prior written
consent shall be void and of no force and effect. This Agreement shall inure to the benefit of and
shall be binding upon the successors and permitted assigns of the parties hereto.

5

 

     14. Severability. In the event that any part of this Agreement is declared by any
court or other judicial or administrative body to be null, void, or unenforceable, said provision
shall survive to the extent it is not so declared, and all of the other provisions of this
Agreement shall remain in full force and effect.

     15. Further Assurances. Each of the parties shall execute such documents and other
papers and take such further actions, as may be reasonably required or desirable to carry out the
provisions hereof and the transactions contemplated hereby.

     16. Amendments. This Agreement may be amended or modified, and any of the terms,
covenants, representations, warranties, or conditions hereof may be waived, only by a written
instrument executed by the parties hereto, or in the case of a waiver, by the party waiving
compliance. Any waiver by any party of any condition, or of the breach of any provision, term,
covenant, representation, or warranty contained in the Agreement, in any one or more instances,
shall not be deemed to be nor construed as further or continuing waiver of any such conditions, or
of the breach of any other provision, term, covenant, representation, or warranty of this
Agreement.

     17. Entire Agreement. This Agreement contains the entire understanding among the
parties hereto with respect to the escrow contemplated hereby and supersedes and replaces all prior
and contemporaneous agreements and understandings, oral or written, with regard to such escrow.

     18. Section Headings. The section headings in this Agreement are for reference
purposes only and shall not affect the meaning or interpretation of this Agreement.

     19. Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original but all of which together shall constitute one and the same
instrument.

     IN WITNESS WHEREOF, the parties hereto have hereunto affixed their signatures as of the day
and year first written above.

	 	 	 	 	 
	E ENERGY ADAMS:
	 	 	ESCROW AGENT
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	E ENERGY ADAMS, LLC
	 	 	UNION BANK & TRUST COMPANY
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 
	 	By:
	 

	

	Jack L. Alderman, President

	 	 	 	 	 
	 	 	 	 	(print name)
	 
	

	 	 	Title:
	 

6

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