Document:

EXHIBIT 4.2

ESCROW AGREEMENT

This Escrow Agreement is
made and entered into as of [                     ],
2007, between Advanced BioEnergy, LLC, a Delaware limited liability company
(the “Company”), and Fidelity Bank, a
Minnesota banking corporation (the “Escrow Agent”).

RECITALS

A.        The Company has filed with the Securities and Exchange
Commission (the “SEC”) a Registration Statement
under the Securities Act of 1933 (the “Registration Statement”)
for the public offering (the “Placement”) of
up to 5,000,000 membership units of the Company (the “Securities”)
upon the SEC declaring the Registration Statement effective.

B.         The Registration Statement contemplates that the payments
tendered with subscriptions for the Securities received from the Placement will
be placed in an escrow account established by the Company until such time as
the Company determines to accept a subscription.

C.         The Escrow Agent is willing to establish such an escrow
account and to undertake only the expressed duties, terms and conditions
outlined herein.

TERMS
AND CONDITIONS

In consideration of the
premises and agreements set forth herein, the parties hereto agree as follows:

1.         PROCEEDS TO BE PLACED IN ESCROW
ACCOUNT.   The Company shall
provide to the Escrow Agent notice of the SEC’s declaring the Registration
Statement effective.  The Company will
instruct subscribers in the Placement to direct all funds tendered with their
subscription to be payable to “Fidelity Bank fbo Advanced BioEnergy, LLC” and
shall deposit such payments with the Escrow Agent.  The Escrow Agent shall establish for the
Company the “Advanced BioEnergy, LLC Escrow Account” (the “Escrow Account”)
and will deposit to such account the subscription funds received by the Escrow
Agent from the Company.  The Escrow
Account shall be an interest bearing deposit account.

In the event that any checks deposited in the Escrow Account prove
uncollectible, the Escrow Agent shall notify the Company of such
uncollectability.  If the check is
returned to the Escrow Agent prior to a withdrawal by the Company in connection
with the acceptance of a subscription, the Escrow Agent shall deliver the
returned check to the Company.  If
uncollectible funds have been released by the Escrow Agent to the Company, then
the Company shall promptly reimburse the Escrow Agent for the face amount of
any such checks and all costs incurred in connection with such checks, and the
Escrow Agent shall deliver the returned checks to the Company.

2.          IDENTITY OF
INVESTORS.  The Company shall
furnish to the Escrow Agent with each delivery of funds, as provided in Section
1, a list of the persons who have tendered money for their subscription to
purchase of the Securities showing the name, address, amount of the Securities
subscribed for and the amount of money tendered.  All subscription payments so deposited shall
remain the property of the investors and shall not be subject to any liens or
charges by the Company, the Escrow Agent, or judgments or creditors’ claims
against the Company, until released to the Company as hereinafter
provided.  The Escrow Agent will not use
the information provided to it by the Company for any purpose other than to
fulfill its obligations as Escrow Agent. 
Regardless, the Escrow Agent will treat this information as
confidential.

3.          DISBURSEMENT OF
FUNDS.   From time to time, and until the third
business day following the Termination Date (as defined in Section 4), the
Company may deliver to the Escrow Agent a written notice, signed by one of its
duly authorized officers, stating that the Company is prepared to accept or

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reject subscriptions with respect to which a deposit of subscription
proceeds was made with the Escrow Agent at least three business days prior to
the notice.  Such notice shall specify
the subscriptions the Company intends to accept and the subscriptions the
Company intends to decline to accept. 
Following receipt of such a notice, the Escrow Agent shall disburse from
the Escrow Account to the Company, in accordance with the instructions of the
Company, the escrowed funds related to the subscriptions being accepted and the
Escrow Agent shall disburse to the subscribers the Company has indicated it
will not accept, the subscription proceeds related to such respective
subscriber.  Payments to subscribers
shall be effected with the mailing to the subscriber’s address provided to the
Escrow Agent by the Company of a check. 
If the Company does not provide to the Escrow Agent notice as to the
acceptance or rejection of subscriptions, the proceeds of which are held in the
Escrow Account, the Escrow Agent shall, within a reasonable time following the
Termination Date, but in no event more than 30 days thereafter, refund to each
of such subscribers at the address appearing on the list of subscribers, or at
such other address as shall be furnished to the Escrow Agent by a subscriber,
in writing, all sums of the subscriber held in the Escrow Account and the
Escrow Agent shall then notify the Company in writing of such refunds.  Notwithstanding the foregoing, no escrowed
funds may be distributed to the Company pursuant to this Section 3 unless and
until the Company will at the time of the disbursement or previously has
received at least $40,000,000 in escrowed funds from the Escrow Account.

4.          TERM OF ESCROW. 
The “Termination Date” shall be the earlier of [                    ],
2008 (subject to extension by the parties hereto in writing); or the date the
Escrow Agent receives written notice from the Company that they are abandoning
the sale of the Securities, subject to Section 3.

5.          DUTY AND LIABILITY OF THE ESCROW AGENT.  The sole duty of the Escrow Agent, other than
as herein specified, shall be to receive escrowed funds and deposit them to the
Escrow Account subject to disbursement, in accordance herewith, and the Escrow
Agent shall be under no duty to determine whether the Company is complying with
requirements of this Agreement or the Registration Statement in tendering to
the Escrow Agent said proceeds of the sale of the Securities and providing
directions with respect to the disbursement of the funds.  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 by the Company 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.

6.          ESCROW AGENT’S FEE.   The Escrow Agent
shall be entitled to a fee of $1,500 and to a fee of $5 for each disbursement
to a subscriber to which subscription proceeds are being returned for its
services rendered pursuant to the terms hereof, which compensation shall be
paid by the Company.  The fee agreed upon
for the services rendered hereunder is intended as full compensation for the
Escrow Agent’s services as contemplated by this Agreement; provided, however,
that in the event that the conditions for the disbursement of funds under this
Agreement are not fulfilled, or the Escrow Agent renders any material service
not contemplated in this Agreement to the Company, or there is any assignment
of interest in the subject matter of this Agreement by the Company, 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 attorneys’ fees, occasioned by any
delay, controversy, litigation or event, and all of the foregoing shall be
recoverable from the Company.

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7.          INTEREST EARNED ON
ESCROW ACCOUNT.   All interest earned on the Escrow Account
shall be payable to the Company and the Escrow Agent shall be supplied with W-9
certification by the Company of its taxpayer identification number in
connection with such interest bearing account. 
The Company will in turn pay interest to investors pro rata if
subscriptions are returned to investors, without a deduction for expenses.

8.          ISSUANCE OF
CERTIFICATES.   To the extent the Securities are to be
evidenced by certificates, the Company shall be solely responsible for the
preparation and delivery to the subscribers of such certificates and the Escrow
Agent shall have no responsibility to confirm the issuance of the certificates
to subscribers in connection with its disbursement of funds in accordance with
the directions of the Company.

9.          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 day after delivery 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:

	
  Advanced BioEnergy, LLC

  	
   

  	
  Fidelity Bank

  
	
  10201 Wayzata
  Boulevard, Suite 250

  	
   

  	
  7600 Parklawn
  Avenue

  
	
  Minneapolis,
  Minnesota 55305

  	
   

  	
  Edina, Minnesota
  55435-5187

  
	
  Attention: Chief
  Executive Officer

  	
   

  	
  Attention: Charles
  Mueller

  
	
  Telephone: (763)
  226-2701

  	
   

  	
  Telephone: (952)
  830-7251

  
	
  Facsimile: (763)
  226-2725

  	
   

  	
  Facsimile: (952)
  811-1828

  

 

Any party may change its address for purposes of this Section by giving
the other parties written notice of the new address in the manner set forth
above.

10.        INDEMNIFICATION OF ESCROW AGENT.  The Company 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 willful misconduct of the
Escrow Agent. The Escrow Agent may consult counsel in respect of any question
arising under this Agreement and Escrow Agent shall not be liable for any
action taken or omitted in good faith upon advice of such counsel.

11.        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.

12.        GOVERNING LAW;
JURISDICTION.   This Agreement shall be construed, performed,
and enforced in accordance with, and governed by, the internal laws of the State
of Minnesota, without giving effect to the principles of conflicts of laws
thereof.  Each party hereby consents to
the personal jurisdiction and venue of any federal or state court located in
either Hennepin County or Ramsey County, Minnesota.

13.        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.

14.        AMENDMENTS; WAIVERS.  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 

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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 this Agreement, in any one
or more instances, shall not be deemed to be nor construed as further or
continuing waiver of any such condition, or of the breach of any other
provision, term, covenant, representation, or warranty of this Agreement.

15.        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.

16.        SECTION HEADINGS.  The Section headings in this Agreement are
for reference purposes only and shall not affect the meaning or interpretation
of this Agreement.

17.        COUNTERPARTS.  This Agreement may be executed by facsimile
signature and in counterparts, each of which shall be deemed an original, but
all of which shall constitute the same instrument.

18.        TIME OF ESSENCE.   Time is of the
essence for purposes of this Agreement.

19.        RESIGNATION.   The Escrow Agent may
resign upon 30 days advance written notice to the Company.  If a successor escrow agent is not appointed
within the 30-day period following such notice, the Escrow Agent may petition
any court of competent jurisdiction to name a successor escrow agent.

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
the day and year first set forth above.

	
  ADVANCED BIOENERGY, LLC

  
	
   

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Revis L. Stephenson III

  	
   

  	
   

  
	
   

  	
  Chief
  Executive Officer

  	
   

  	
   

  
	
   

  
	
   

  
	
  FIDELITY
  BANK

  
	
   

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
  Its:

  	
   

  	
   

  
					

 

 

 4EXHIBIT 10.47

Northwest Airlines Excess 401(k) Cash Payments Program

The following is a description of the Company’s
unwritten Excess 401(k) Cash Payments Program.

As a result of the freezing of pension benefit
accruals under Northwest’s defined benefit pension plans, Northwest makes
direct contributions to participants’ accounts in its Retirement Savings Plan
for Salaried Employees to replace the benefit accruals under the defined
benefit plans. The amount of Company contributions to participant accounts
under the Retirement Savings Plan are a percentage of pay (defined as salary
and incentive compensation) that varies based on the participant’s age and
years of service in accordance with the following schedule:

-                    

	
  

  	
   

  	
  Company Contribution

  (as a percent of pay)

  	
   

  
	
  Age plus Vesting Service

  	
   

  	
  1/01/2006 through

  7/31/2006

  	
   

  	
  8/01/2006 and

  After

  	
   

  
	
  Less than 30

  	
   

  	
  6

  	
  %

  	
  5

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  30 through 39

  	
   

  	
  7

  	
  %

  	
  6

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  40 through 49

  	
   

  	
  8

  	
  %

  	
  7

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  50 through 59

  	
   

  	
  10

  	
  %

  	
  9

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  60 through 69

  	
   

  	
  12

  	
  %

  	
  10

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  70 through 79

  	
   

  	
  15

  	
  %

  	
  12

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  80 and over

  	
   

  	
  18

  	
  %

  	
  15

  	
  %

  

 

Under the unwritten Excess 401(k) Cash Payments
Program, contributions that cannot be made to the Retirement Savings Plan due
to limits on contributions under the Internal Revenue Code are made to each
employee affected by those limits in cash on a semi-monthly basis. Northwest
provides this benefit so that executives and other employees who are subject to
the Internal Revenue Code limits obtain the same rate of Company contributions,
as a percentage of pay, as our other salaried employees.

 

 

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