Document:

exv10w21

Exhibit 10.21

APPENDIX B

to

PROSPECTUS DATED October 28, 2008

CHS Inc.

Deferred Compensation Plan

This Appendix B is dated _October 28, 2008.

This document constitutes part of a prospectus covering securities that

have been registered under the Securities Act of 1933.

RATES OF RETURN FOR THE INVESTMENT FUNDS

The information below supplements the information contained in the CHS Inc. Deferred Compensation
Plan prospectus, under the heading “How Are Earnings On My Account Determined.” Shown below are
the rates of return for each of the last three years for each of the investment alternatives
available under the Plan. The funds below are used solely as an index for determining gains or
losses on your unfunded account. You do not actually own any shares of the fund used as the index.

Annual investment returns for the 12 months ending:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Fund Name/Ticker	 	2007	 	2006	 	2005
	Vanguard Prime Money Market Fund	 	 	5.14	%	 	 	4.88	%	 	 	3.01	%
	Vanguard LifeStrategy Income Fund	 	 	6.70	%	 	 	7.93	%	 	 	3.23	%
	Vanguard LifeStrategy Conservative Growth Fund	 	 	6.99	%	 	 	10.62	%	 	 	4.45	%
	Vanguard LifeStrategy Moderate Growth Fund	 	 	7.36	%	 	 	13.31	%	 	 	5.69	%
	Vanguard LifeStrategy Growth Fund	 	 	7.46	%	 	 	16.13	%	 	 	6.88	%
	Fixed Income Fund
	 	 	2009:  6.70	%	 	 	N/A	 	 	 	N/A	 	 	 	N/A	 
	Ten-Year T-Note Fund*
	 	 	2008:  5.83	%	 	 	5.70	%	 	 	5.39	%	 	 	5.22	%

 

			
	*	 	Effective January 1, 2009 the Ten-Year T-Note Fund is replaced with the Fixed Income
Fund.

The above amounts are not necessarily indicative of the results realized by individual Plan
participants, due to the timing of deferrals, investment reallocations and withdrawals, and daily
changes in the market value of securities. Furthermore, the above amounts should not be regarded
as indicative of future performance of the investment funds.exv10w22

Exhibit 10.22

Action Required: Must be returned by December 19, 2008

CHS Inc.

New Plan Participants

2009 Plan Agreement and Election Form

Deferred Compensation Plan

	 	 	 
	 

	 	 
	Name (Last, First, Middle Initial)

	 	Social Security Number

You may use this form to:

	 	 ̈	 	Indicate the amount of your Director Fees that you wish to defer during the 2009 Plan Year.
	 
	 	 ̈	 	Elect to receive a Scheduled Distribution (optional)
	 
	 	 ̈	 	Select the form of your Retirement Benefit (required)
	 
	 	 ̈	 	Select form of your Disability Benefit payment (required)
	 
	 	 ̈	 	Select form of Change in Control payment (required)
	 
	 	 ̈	 	Allocate new deferrals and new company contributions among the available investment options.

	 	 	 
	Deferral Election –

Board of Directors

	 	Please select one box; fill in the appropriate blanks with whole
percentages or whole dollar amounts.
	 
	 	 
	o Director Fees

	 	I elect to defer $                     of my Director Fees earned in 2009.
	 
	 	 
	o Non-Participation

	 	I elect not to participate in the 2009 Plan Year.
	 
	 	 
	Section 2:

	 	Required if you selected to defer income in Section 1.
	 
	 	 
	Optional Scheduled

Distribution Election(1)
	 	 
	 
	 	 
	(Select one option)
	 	 
	 
	 	 
	o Scheduled
Distribution

	 	I irrevocably elect to receive a Scheduled Distribution of my
2009 Annual Deferral Amount, as well as any investment gains or
losses attributable to such amounts, payable within 60 days of
January 1,                      (must be 2012 or later), earlier if board
term expiration, disability or death occurs prior to Scheduled
Distribution Date.
	 
	 
	 	Please state the percentage of the Annual Deferral Amount (and
any investment gains or losses) you would like to receive as a
Scheduled Distribution:                     %.
	 
	 	 
	o Defer Payment

(To Board Term
Expiration, Retirement or

Disability)

	 	I irrevocably elect to receive distribution of my 2009 Annual
Deferral Amount, as well as any investment gains or losses
attributable to such amounts, following Board Term Expiration,
Retirement or Disability, in accordance with the terms of the CHS
Inc. Deferred Compensation Plan (and the form of Retirement
Benefit or Disability Benefit payment I elected under the Plan,
as applicable).

	(1)	 	If you choose not to elect a Scheduled Distribution, or you elect to receive less than
100% of your Annual Deferral Amount as a Scheduled Distribution, the remainder of your
Annual Deferral Amount, and any related investment gains or losses, will be paid to you
along with the rest of your vested Account Balance pursuant to the Plan. You may elect to
postpone the distribution of a previously designated Scheduled Distribution, provided (i)
you submit a properly completed Scheduled Distribution Change Form to the Committee at
least one year prior to your previously designated Scheduled Distribution date, (ii) the
new Scheduled Distribution date you select is at least five years after your previously
designated Scheduled Distribution date, and (iii) the election of the new Scheduled
Distribution date is not effective until at least one year after the date the election is
made. You may postpone each scheduled distribution no more than three times.

	 
	New Participant Election - Board	 	1

 

Action Required: Must be returned by December 19, 2008

CHS Inc.

New Plan Participants

2009 Plan Agreement and Election Form

Deferred Compensation Plan

	 	 	 
	 	 	 
	 
	 	 
	Name (Last, First, Middle Initial)

	 	 

	 	 	 
	Retirement Benefit
 Distribution
Election*

	 	Please select lump sum or annual
installments; fill in the number of
years, if necessary.

	þ	 	I elect to receive a Retirement Benefit in the manner indicated below,
to the extent allowed by the Plan (select one payment option below). This
election will apply to all Retirement Benefits.

	 	o	 	A lump sum payment
	 
	 	o	 	Annual installments for ___ years (up to 10 years).
	 

	 

	 
	*	After the initial enrollment, you may make a one-time election to
change the form of your Retirement Benefit payment, as long as (i) you
submit a properly completed Benefit Distribution Change Form to the
Committee at least one year prior to your Retirement, (ii) your first
Retirement Benefit payment is delayed by at least five years following
the date on which such payment would otherwise commence, and (iii) the
election to change the form of your Retirement Benefit payment is not
effective until at least one year after the date the election is made.
Please note that if your election to change the form of your Retirement
Benefit payment would result in the shortening of the length of the
payment period of such benefit (e.g., a change from annual installments
to a lump sum payment; from 10 annual installments to 5 annual
installments, etc.), and the Committee determines such election to be
inconsistent with applicable tax law, the election will not be effective.

	 	 	 
	Disability Benefit
 Distribution
Election* 

	 	Please select lump sum or annual
installments; fill in the number of
years, if necessary.

	þ	 	I elect to receive a Disability Benefit in the manner indicated below,
to the extent allowed by the Plan (select one payment option below). This
election will apply to all Disability Benefits.

	 	o	 	A lump sum payment
	 
	 	o	 	Annual installments for ___ years (up to 10 years).
	 

	 

	 
	*	After the initial enrollment, you may elect to change the form of your
Disability Benefit payment, as long as you submit a properly completed
Benefit Distribution Change Form to the Committee at least one year prior
to the date on which you become Disabled. Please note that if your
election to change the form of your Disability Benefit payment would
result in the shortening of the length of the payment period of such
benefit (e.g., a change from annual installments to a lump sum payment;
from 5 annual installments to 3 annual installments, etc.), and the
Committee determines such election to be inconsistent with applicable tax
law, the election will not be effective.

	 	 	 
	Change in Control

	 	Please select one box below.
	Distribution Election
	 	 
	 
	 	 
	o Change in Control Benefit

	 	I irrevocably elect to receive a
Change in Control Benefit equal to
my vested Account Balance upon the
occurrence of a Change in Control.
	 
	 	 
	o No Benefit

	 	I irrevocably elect to have my
Account Balance remain in the Plan
and continue to be subject to the
terms and conditions of the Plan
upon a Change in Control.
	 

	 
	New Participant Election - Board	 	2

 

Action Required: Must be returned by December 19, 2008

CHS Inc.

New Plan Participants

2009 Plan Agreement and Election Form

Deferred Compensation Plan

	 	 	 
	 	 	 
	 
	 	 
	Name (Last, First, Middle Initial)

	 	 

	 	 	 
	New Deferrals/

	 	Please select in whole percentage increments; the total must equal 100%.
	Contributions
	 	 
	Allocation Election
	 	 

I elect to allocate my new deferrals and new company contributions to the following Measurement Funds:

	 	 	 	 	 
	o Vanguard Prime Money Market Fund
	 	 	          	%
	o Vanguard LifeStrategy Income Fund
	 	 	          	%
	o Vanguard LifeStrategy Conservative Growth Fund
	 	 	          	%
	o Vanguard LifeStrategy Moderate Growth Fund
	 	 	          	%
	o Vanguard LifeStrategy Growth Fund
	 	 	          	%
	o Fixed Income Fund
	 	 	          	%
	 

Unless otherwise provided in this Agreement, the capitalized terms in this Agreement shall have
the same meaning as under the Plan’s master plan document (the “Plan Document”) a copy of which
has been made available to the Participant. The Plan Document is hereby incorporated into and
made a part of this Agreement as though set forth in full in this Agreement. The Participant
hereby acknowledges that he or she has read and understands this Agreement and the Plan Document
and as a condition to participation in the Plan, the Participant must complete, sign, date and
return to the Committee an original copy of this Agreement, various Election Forms as required
by the Committee, and a Beneficiary Designation.

This Agreement shall inure to the benefit of, and be binding upon the Employer, its successors
and assigns, and the Participant. Subject to ERISA, the provisions of this Plan shall be
construed and interpreted according to the internal laws of the State of Minnesota without
regard to its conflicts of laws principles.

	 	 	 	 	 	 	 	 	 
	ACKNOWLEDGED AND AGREED:

	 	 	 	 	 	ACCEPTED:	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 
	Print Participant Name

	 	Employee Number
	 	 	 	For the Committee
	 	Date
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 
	Signature of Participant

	 	Date	 	 	 	 	 	 

	 
	New Participant Election - Board	 	3

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