Document:

Feedstock Purchase and Sale Agreement

 Exhibit 10.37 
 FEEDSTOCK PURCHASE AND SALE AGREEMENT 
 (with tolling agreement)

 THIS FEEDSTOCK PURCHASE AND SALE AGREEMENT (this “Agreement”) is made and entered into as of
July 6, 2009 (“Effective Date”) by and among Blackhawk Biofuels, LLC, an Illinois limited liability company (“Owner”), REG Marketing & Logistics Group, LLC, an Iowa limited liability company
(“Producer”) and Bunge North America, Inc., a New York corporation (“Bunge”) (each of Owner, Producer and Bunge, a “Party” and collectively, the “Parties”). 

RECITALS 

A. Producer has and will enter into one or more toll processing agreements (collectively, “Tolling Agreement”) with
Owner for the processing of biodiesel at Owner’s biodiesel production facility located in the City of Danville, Vermilion County, Illinois (the “Facility”). 

B. Bunge, Renewable Energy Group, Inc. and Producer are parties to that certain Master Service Agreement dated May 8, 2009 (the
“REG Master Agreement”). 
 B. Producer desires to engage Bunge to purchase supplies of corn oil, animal fat or
other products as feedstock (“Feedstock”) for resale to Producer for biodiesel production at the Facility in accordance with the terms set forth in this Agreement. 

C. The Parties desire to purchase and sell Feedstock in accordance with the fees, payment, delivery and other terms set forth in this
Agreement. 
 AGREEMENT 
 Now, therefore, the Parties agree as follows: 
 1. Feedstock Purchase and Resale.

 1.1 Feedstock Transactions. Subject to the terms of this Agreement, Bunge will purchase Feedstock from Feedstock
suppliers for resale to Producer, and Producer will purchase from Bunge such Feedstock during the Term (as hereinafter defined) (the “Services”). Notwithstanding anything contained herein to the contrary, Bunge shall have no
liability to Owner for any obligations of Producer under the Tolling Agreement. 
 1.2 Sole Provider of Services. Subject
to the terms of this Agreement, Producer agrees during the Term to use Bunge as the sole provider of the Services described in this Agreement and not to engage any other third party to provide such Services. Notwithstanding the foregoing sentence,
Producer shall be allowed to purchase Feedstock directly from the actual producer of Feedstock on Producer’s own behalf; provided, Producer may only use internally generated funds of Renewable Energy Group, Inc. (“REG”) or an
Affiliate of REG or funds 

 
obtained from REG’s or an REG Affiliate’s senior secured credit facilities in connection with such transactions. 
 2. Feedstock Procurement. 
 2.1 Location of Feedstock Transactions.

 (a) Producer and/or Producer’s Affiliates shall be responsible for locating and negotiating the terms of
transactions with Feedstock suppliers (including price and terms of sale) (each a “Feedstock Transaction”). No Feedstock supplier shall be an Affiliate of Producer or Renewable Energy Group, Inc. without the prior consent of Bunge.
Producer shall consult with Bunge periodically with respect to such activities and shall consult with Bunge with respect to the terms of and negotiations with respect to such transactions. Producer or Producer’s Affiliate may present to Bunge
any such Feedstock Transaction that is acceptable to Producer and all accompanying information relating to such Feedstock Transaction to allow Bunge to evaluate the Feedstock Transaction. Upon presentation of any Feedstock Transaction to Bunge,
Bunge will have a period of up to 24 hours to review the Feedstock Transaction and determine whether it will agree to enter into such Feedstock Transaction. Bunge’s determination as to whether it will agree to enter into any Feedstock
Transaction or decline to enter into a Feedstock Transaction shall be in Bunge’s sole and absolute discretion and, except as expressly provided in Section 6, Bunge shall have no liability to Producer or Owner with respect to such
determination. If Bunge has declined to enter into such Feedstock Transaction, then such Feedstock Transaction shall not be subject to the terms of this Agreement. 

(b) All Feedstock which Producer purchases on its own behalf shall be stored separately from any Bunge-Owned Volumes (as
that term is hereinafter defined) so that Bunge-Owned Volumes are and at all times remain readily identifiable and fully distinguishable from any other Feedstock stored at the Facility and neither Producer nor Owner shall commingle any other
Feedstock with any Bunge-Owned Volumes. Any violation of the immediately preceding sentence shall be deemed to be a material breach of this Agreement. Owner hereby grants Bunge and its agents the non-exclusive right, privilege, right of way and
easement for the purpose of access, ingress and egress by trucks and other vehicles in a manner and at times reasonably necessary and convenient for Bunge to inspect any and all Feedstock stored at the Facility to ensure there is no commingling and
that the Bunge-Owned Volumes are and at all times remain readily identifiable and fully distinguishable from any and all other Feedstock stored at the Facility. 
 2.2 Production Estimates. At least 30 days before the beginning of each calendar month during the Term, Producer will deliver to Bunge a written estimate of its anticipated Feedstock requirements
and biodiesel production volumes for the Facility for the 90 day period beginning on the first day of such month. 
 2.3
Resale of Feedstock. 
 (a) Contracting and Sales Confirmations. If Bunge accepts a Feedstock
Transaction pursuant to Section 2.1, Bunge will execute in its own name and on its own behalf a 

  
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sales contract for the purchase of the Feedstock (each, a “Contract”) from the applicable feedstock supplier upon the terms presented by Producer to Bunge. Effective as of 1:15
pm Central Time on each business day during the Term, Producer and Bunge shall enter into a sales confirmation evidencing the sale by Bunge to Producer of all Feedstock (“Contracted Feedstock Volume”) covered by any Contract that
Bunge has entered into since 1:16 pm Central Time on the most recent preceding business day. Each such sales confirmation shall be in the form attached hereto as Exhibit B (each, a “Sales Confirmation”) and shall set the
applicable per pound sale price (each, a “Confirmed Sale Price”) equal to the price set forth in the applicable Contract. Producer shall bear any freight or other transportation costs for shipment of Feedstock to the Facility where
the delivery terms are FOB supplier’s location, and any such costs shall be set forth in the Sales Confirmation. In no event with Bunge be responsible for any freight or other transportation costs for shipment of Feedstock to the Facility. The
cost of any demurrage for transportation of Feedstock shall be passed along by Bunge and charged to Producer. No Sales Confirmation may alter the terms of this Agreement. To the extent that the terms of a Sales Confirmation conflict with the terms
of this Agreement, the terms of this Agreement shall control. 
 (b) Delivery Location; Shrinkage. The
place of delivery for all Feedstock provided by Bunge pursuant to this Agreement will be the Facility (the “Delivery Destination”). Bunge will cause Feedstock to be delivered via truck or rail to the extent that the Delivery
Destination has appropriate receiving facilities. Bunge, its agents, and the counterparties to Contracts will be given access to the Delivery Destinations in a manner and at times reasonably necessary and convenient for performance under this
Agreement. The Parties acknowledge that Bunge shall cause the delivery of Feedstock to the Delivery Destination by providing for such delivery pursuant to the terms of the Contracts. Producer and not Bunge shall be responsible for and bear the cost
of any differences between the volume of Feedstock purchased by Bunge pursuant to a Contract and the corresponding volume of Feedstock upon arrival at the Delivery Destination or in storage pursuant to the applicable Sales Confirmation (any such
difference, “Shrinkage”). Bunge shall not be in violation of this Agreement to the extent that a feedstock supplier fails to deliver Feedstock in accordance with a Contract (unless such default was as the result of Bunge’s
breach of the Contract or Bunge’s gross negligence or intentional misconduct). Upon any such default by a feedstock supplier or upon the occurrence of any Shrinkage, Bunge shall pursue any available remedy against the feedstock supplier or
freight carrier for such default or Shrinkage upon request of Producer and Producer and Owner shall reimburse all costs and expenses of Bunge (including, without limitation, reasonable attorney fees) associated therewith. 

(c) Unloading. Producer will direct (or Producer will cause the Owner to direct) the unloading and receiving of all
Feedstock purchased hereunder. All labor and equipment necessary to unload Feedstock delivered by or on behalf of Bunge pursuant to Contracts will be supplied by Producer (or Owner) without additional charge to Bunge. Producer agrees to handle (or
cause the Owner to handle) the unloading and receiving of all Feedstock in a good and workmanlike manner in accordance with Bunge’s reasonable requirements and normal industry practice. Producer will maintain or cause the Owner to maintain (at
Producer’s own expense) receiving facilities at the Delivery Destination in accordance with applicable laws and regulations and in safe operating condition in accordance 

  
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with normal industry standards. Producer will be responsible for any additional costs to Bunge resulting from any breach by Producer to meet its obligations set forth in this
Section 2.3(c). If Producer or Owner fails to unload or receive a quantity of Feedstock that is scheduled for delivery to a Delivery Destination pursuant to a Contract or otherwise causes Bunge to be in default under the terms of a
Contract (either, a “Producer Default”), Bunge will utilize commercially reasonable efforts to mitigate or remedy such Producer Default after consultation with Producer. Such efforts may include, without limitation, Bunge arranging
for the storage of Feedstock by a feedstock supplier for which Producer or Owner failed to take delivery to delay the purchase of Feedstock pursuant to a Contract, directing delivery of such Feedstock to another facility or selling such Feedstock to
a third party. Producer and Owner will, jointly and severally, defend, indemnify and hold Bunge harmless for, all costs, liabilities and expenses of Bunge incurred in connection with any Producer Default, including, without limitation, reasonable
attorney fees, storage costs, price adjustments, rail/truck demurrage and freight costs. 
 (d) Receiving
Agent; Title; Storage. Bunge hereby appoints Producer as its receiving agent to take delivery, on Bunge’s behalf, of all Contracted Feedstock Volumes delivered to the Delivery Destination and Producer hereby accepts such appointment. Risk
of loss, and responsibility for the quality of Contracted Feedstock Volume will pass to Producer upon unloading the Contracted Feedstock Volume at the Delivery Destination, but title to Contracted Feedstock Volumes will remain in Bunge and will not
pass to Producer until Producer pays the applicable Confirmed Sale Price to Bunge in accordance with Section 3.1 (prior to title passing to Producer, such unloaded Contracted Feedstock Volumes are “Bunge-Owned Volumes”). Owner
and Producer will allow Bunge to store all Bunge-Owned Volumes at the applicable Delivery Destination free of additional charge to Bunge in storage containers that are segregated and committed solely to Bunge-Owned Volumes until (a) title to a
Bunge-Owned Volume passes to Producer, or (b) Bunge removes a Bunge-Owned Volume from such location. Notwithstanding anything contained in this Agreement or a Sales Confirmation to the contrary, Bunge may at any time during the Term remove any
or all Bunge-Owned Volumes from the Facility. Owner hereby grants Bunge and its agents the non-exclusive right, privilege, right of way and easement for the purpose of access, ingress and egress by trucks and other vehicles in a manner and at times
reasonably necessary and convenient for Bunge to remove any or all Bunge-Owned Volumes, including access to rail and truck loadout equipment. Bunge shall act in a reasonably careful manner in removing such Bunge-Owned Volumes so as not to cause
damage to Owner’s property. Bunge shall be entitled, but shall not be required, to post a sign or other notice reasonably acceptable to Producer to put third parties on notice that certain Contracted Feedstock Volumes are Bunge-Owned Volumes.

 (e) Feedstock Specifications. Prior to unloading, Producer will have the right to inspect and reject
any Feedstock delivery that does not meet the “Feedstock Specifications” set forth in Exhibit A to this Agreement; provided, that Producer may have Owner perform such inspection pursuant to the Tolling Agreement.
Notwithstanding anything contained in this Agreement to the contrary, Bunge will not be responsible for any failure of Feedstock to comply with the terms of this Agreement, a Sales Confirmation or any Contract. If any Feedstock supplied under this
Agreement fails to comply with the Feedstock Specifications, a Sales Confirmation or any Contract, then Producer’s exclusive remedy and recourse against Bunge (including under any Sales Confirmation) will be to exercise any remedy which Bunge
may have 

  
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against the feedstock producer, such as rejecting non-compliant Feedstock, on Bunge’s behalf as Bunge’s agent under the terms of any Contract (and provide Bunge with written notice of
such exercise) prior to Producer unloading the Feedstock. Bunge will have no liability to Owner under the Tolling Agreement for any non-compliant Feedstock. Bunge will pursue any available remedy under a Contract against the feedstock supplier for
such non-conformance with the terms of this Agreement, a Sales Confirmation or any Contract upon request of Producer and Producer shall reimburse all costs and expenses of Bunge (including, without limitation, reasonable attorney fees) associated
therewith. Any failure by Producer to provide written notice of rejection as set forth in this Section 2.3(e) will be deemed an absolute and unconditional waiver of its rejection right and any claims relating to such Feedstock. At
Bunge’s request, Producer will promptly deliver to Bunge a representative sample of any rejected Feedstock. 
 2.4
Services, Weights, and Quality. 
 (a) Weight Certificates. Except as contemplated by
Section 2.4(b), the inbound weight certificates generated pursuant to Section 2.4(b) will determine the quantity of Feedstock for which Producer is obligated to pay pursuant to Article 3. 

(b) Scales. Bunge may cause to be delivered Feedstock that may have origin official weights. In such event, Bunge
will timely notify Producer and the origin official weights of such Feedstock will govern. In the event Bunge causes to be delivered Feedstock that has estimated origin weights, Producer will (or Producer will cause Owner to) determine the weight of
such Feedstock delivered by Bunge to the Delivery Destination using scales at the Delivery Destination; provided, that, to the extent Owner does not have scales at a Delivery Destination to determine the weight of Feedstock delivered by rail, then
such estimated weights shall govern. Owner shall maintain (at its expense) the accuracy of such scales and ensure that they are inspected and certified as required by applicable law. Upon Bunge’s request, Producer will promptly provide Bunge
with copies of all scale certifications. Bunge may, at its sole expense, test the accuracy of such scales. If the scales at a Delivery Destination are unavailable or inoperable, any scales certified as required by applicable law may be used, at
Producer’s sole cost and expense, until the scales at a Delivery Destination are available and operable. 
 2.5
Owner’s Obligations. During the Term, Owner agrees not to enter into any tolling agreement without Bunge’s prior written consent. To the extent Owner enters into any tolling agreement with a third party, Owner agrees to segregate
any feedstock owned by such other third party from feedstock of Producer. Owner hereby waives any lien or security interest (statutory or otherwise) which Owner may claim or hold on any Feedstock purchased by Bunge hereunder or any Feedstock owned
by REG. 
 3. Title to Feedstock; Price and Payment. 
 3.1 Producer’s Request for Feedstock. Producer shall provide Bunge with 24 hour prior written notice when Producer desires to purchase from Bunge a volume of Feedstock. Producer shall pay the
applicable Confirmed Sale Price in accordance with Section 3.2 for such volume of Feedstock within such 24-hour time period but prior to removing any Bunge-Owned Volumes from storage or otherwise using Feedstock of Bunge in its operations.
Title to Bunge-

  
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Owned Volumes shall pass to Producer upon Producer’s payment of the applicable Confirmed Sale Price in full and removal of the Feedstock from shipment or storage. Neither Producer nor Owner
shall have any right to remove any Bunge-Owned Volumes from storage or otherwise use Feedstock of Bunge in its operations until Producer has paid the applicable Confirmed Sale Price in full. 

3.2 Payments. Interest will accrue on amounts past due at a rate per annum equal to the lesser of (a) Seven and
One-Half Percent (7-1/2%) per annum over and above the LIBOR Rate (which rate shall fluctuate as and when the LIBOR Rate shall change but which rate shall not be less than Thirteen Percent (13%) per annum) and (b) the highest rate
permitted by law. All amounts due to Bunge under this Agreement will be paid without setoff, counterclaim or deduction. “LIBOR Rate” means the daily average of interbank offered rates for US Dollar deposits in the London market based on
quotations at major banks, as published under the heading “London Interbank Offered Rates (LIBOR)” in the “Money Rates” column of The Wall Street Journal for the one month maturity. 

3.3 Tax. For purposes of personal property taxation and/or assessment or other similar taxation, if any, any tax assessed on
Feedstock acquired by Bunge will be the responsibility of Producer, and at no time will Bunge be responsible for the payment of any such tax. 
 3.4 Additional Fees. The Parties acknowledge that fees payable with respect to the Services performed hereunder shall be paid to Bunge pursuant to the REG Master Agreement. 

4. Term and Termination. 

4.1 Term. The initial term of this Agreement will begin upon execution of this Agreement by both Parties and, unless earlier
terminated in accordance with the terms hereof, will expire upon the third anniversary of the Effective Date. Unless earlier terminated in accordance with this Agreement, this Agreement will automatically renew for successive three-year terms
thereafter unless either Party gives written notice to the other Party of its election not to renew, no later than 180 days prior to the expiration of the initial term or the then current renewal term, as applicable. The “Term” will
be the total of the initial term of this Agreement and any renewal terms. 
 4.2 Termination Rights. 

(a) Bunge may terminate this Agreement (i) immediately upon notice to Producer and Owner if Producer or Owner has
breached any material representation, warranty, or obligation under this Agreement (including the failure to make any payment within 3 days of when due), (ii) at any time, with or without cause, upon at least 15 days prior written notice to
Producer and Owner; provided, that if at any time the four month rolling average of production of Producer’s Biodiesel at the Facility is greater than forty percent (40%) of the nameplate capacity for such Facility (“Capacity
Test”), then the requirement to provide at least 15 days prior written notice shall be extended to 45 days during the period of time that the Capacity Test is met, and/or (iii) immediately upon termination of the Tolling Agreement.

  
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 (b) Producer may terminate this Agreement immediately upon notice to Bunge
if Bunge has (i) breached any material representation, warranty, or obligation under this Agreement, and (ii) failed to remedy such breach within 30 days after Producer has given notice of such breach, or if such breach cannot reasonably
be cured within such 30-day period, as soon as reasonably possible, but in all events within 45 days after Producer has given notice of such breach. 
 (c) Producer and Owner, on the one hand as a Party, and Bunge, on the other hand as a Party, may terminate this Agreement immediately upon notice to the other Party if (i) such other Party (and with
respect to Producer or Owner, either or both) files a petition for adjudication as bankrupt, for reorganization or for an arrangement under any bankruptcy or insolvency law; (ii) an involuntary petition under such law is filed against such
other Party (and with respect to Producer or Owner, either or both) and is not dismissed, vacated or stayed within 60 days thereafter; or (iii) such other Party (and with respect to Producer or Owner, either or both) makes an assignment of all
or substantially all of its assets for the benefit of its creditors. 
 (d) Producer and Owner acknowledge that
Bunge has additional rights to terminate this Agreement as are set forth in the REG Master Agreement. 
 (e)
Owner may terminate this Agreement upon 10 days notice to Bunge and Producer (i) if the Tolling Agreement terminates without renewal or replacement thereof, (ii) if the Agreement and Plan of Merger by and among the Owner, Renewable Energy
Group, Inc., REG Newco, Inc. and REG Danville, LLC dated May 11, 2009 (the “Merger Agreement”) terminates, and (iii) if the Closing under the Merger Agreement has not occurred by January 8, 2010. 

4.3 Survival. The provisions of this Agreement which expressly or by their nature survive expiration or termination of this
Agreement, including, but not limited to, Sections 3, 4, 6, 7, 11 and 12, will remain in effect after the expiration or termination of this Agreement. 
 5. Representations and Warranties. Producer and Owner represent and warrant to Bunge that all necessary corporate or limited liability company action, as the case may be, has been taken for the
authorization, execution, delivery and performance of this Agreement; the execution, delivery and performance of this Agreement by Producer and Owner does not, and will not, violate or constitute a breach of or default under any Governmental
Requirement or any indenture, contract or other instrument to which Producer or Owner, or their respective assets, are bound or to which their respective businesses are subject. 
 6. Limitation of Liability; General Disclaimer. EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, BUNGE MAKES NO STATUTORY, WRITTEN, ORAL, EXPRESSED OR IMPLIED WARRANTIES, REPRESENTATIONS OR
GUARANTEES OF ANY KIND CONCERNING THE SERVICES PROVIDED BY BUNGE OR ITS AFFILIATES UNDER THIS AGREEMENT. EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, NEITHER BUNGE NOR ITS AFFILIATES, NOR ANY OTHER PARTY PROVIDING SERVICES HEREUNDER (INCLUDING
ANY SUBCONTRACTOR ALLOWED TO PROVIDE SERVICES BY THIS AGREEMENT), WILL BE LIABLE TO PRODUCER, 

  
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OWNER OR ANY OTHER PERSON OR ENTITY FOR DAMAGES ARISING OUT OF, RELATING TO OR RESULTING FROM SERVICES PROVIDED UNDER THIS AGREEMENT OR THE FAILURE TO PROVIDE SERVICES UNDER THIS AGREEMENT,
EXCEPT TO THE EXTENT SUCH DAMAGES ARISE OUT OF OR RESULT FROM THE GROSS NEGLIGENCE, INTENTIONAL BREACH OR WILLFUL MISCONDUCT OF BUNGE OR SUCH PARTY PROVIDING SERVICES (INCLUDING ANY SUBCONTRACTOR ALLOWED TO PROVIDE SERVICES BY THIS AGREEMENT);
PROVIDED, THAT THE AGGREGATE AMOUNT OF ALL SUCH DAMAGES UNDER THIS AGREEMENT IN ANY FISCAL YEAR WILL NOT EXCEED $200,000. THE REMUNERATION TO BE PAID FOR THE SERVICES TO BE PERFORMED REFLECTS THIS LIMITATION OF LIABILITY. IN NO EVENT WILL BUNGE OR
ANY OF ITS AFFILIATES OR ANY OTHER PARTY PROVIDING SERVICES HEREUNDER (INCLUDING ANY SUBCONTRACTOR ALLOWED TO PROVIDE SERVICES BY THIS AGREEMENT) BE LIABLE TO PRODUCER, OWNER OR ANY OTHER PERSON OR ENTITY FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL
DAMAGES UNDER ANY CIRCUMSTANCES. 
 7. Remedies. 
 7.1 Suspend Performance. Bunge may suspend its performance under this Agreement until Producer has paid all amounts due under this Agreement if Producer fails to pay any amount within three
business days after the date when such amount is due and uncured under this Agreement. 
 7.2 Specific Enforcement. The
Parties shall have the right and remedy to seek to have the provisions of this Agreement specifically enforced by any court having equity jurisdiction without the necessity of posting any bond, it being acknowledged and agreed by the parties that
the scope of the provisions of this Agreement are reasonable under the circumstances. 
 7.3 Rights Not Exclusive. No
right, power or remedy conferred by this Agreement will be exclusive of any other right, power or remedy now or hereafter available to a Party at law, in equity, by statute or otherwise. 

7.4 Rights in REG Master Agreement. The Parties acknowledge that Bunge has additional rights with respect to this Agreement as are
set forth in the REG Master Agreement. 
 8. Force Majeure. 
 8.1 Definition of Force Majeure Event. Each Party is excused from performing its obligations under this Agreement to the extent that such performance is prevented by an act or event (a
“Force Majeure Event”) whether or not foreseen, that: (i) is beyond the reasonable control of, and is not due to the fault or negligence of, such Party, and (ii) could not have been avoided by such Party’s exercise of
due diligence, including, but not limited to, a labor controversy, strike, lockout, boycott, transportation stoppage, action of a court or public authority, fire, flood, earthquake, storm, war, civil strife, terrorist action, epidemic, or act of
God; provided  

  
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that a Force Majeure Event will not include economic hardship, changes in market conditions, or insufficiency of funds. Notwithstanding the foregoing sentence, a Force Majeure Event does not
excuse any obligation to make any payment required by this Agreement and will not affect either Party’s right to terminate this Agreement pursuant to Section 4.2. 

8.2 Conditions Regarding Force Majeure Event. A Party claiming a Force Majeure Event must: (i) use commercially reasonable
efforts to cure, mitigate, or remedy the effects of its nonperformance; provided that neither Party will have any obligation hereunder to settle a strike or labor dispute; (ii) bear the burden of demonstrating its existence; and
(iii) notify the other Party of the occurrence of the Force Majeure Event as quickly as reasonably possible, but no later than five business days after learning of the occurrence of the Force Majeure Event. Any Party that fails to notify the
other Party of the occurrence of a Force Majeure Event as required by this Section 8.2 will forfeit its right to excuse performance of its obligations due to such Force Majeure Event. When a Party claiming a Force Majeure Event is able
to resume performance of its obligations under this Agreement, it will immediately give the other Party notice to that effect and resume performance. 
 8.3 Third Parties; Termination. During any period that a Party claiming a Force Majeure Event is excused from performance under this Agreement, the other Party may accept performance from other
parties as it may reasonably determine under the circumstances. 
 9. Insurance. 

9.1 Other Required Coverage. 
 (a) Producer and Owner will maintain automobile liability insurance covering owned, hired, and non-owned vehicles against claims for bodily injury, death and property damage, with a combined single limit
of not less than $1,000,000, or equivalent coverage using split limits. Such insurance will name Bunge, its parents, subsidiaries and Affiliates as additional insureds thereunder, and will be primary to any other insurance available to Bunge, its
parents, subsidiaries and Affiliates as insureds or otherwise. 
 (b) Producer and Owner will maintain commercial
general liability insurance and property casualty insurance (including, without limitation, coverage for Contractual Liability and Products/Completed Operations) against claims for bodily injury, death and property damage (including damage to
Feedstock), with limits of not less than $1,000,000 for each occurrence and $1,000,000 in the General and Products/Completed Operations Aggregate. Such insurance will name Bunge, its parents, subsidiaries and Affiliates as additional insureds there
under, and will be primary and non-contributory to any other insurance available to Bunge, its parents, subsidiaries and Affiliates as insureds or otherwise. 
 (c) An excess or umbrella liability policy with a limit of not less than $2,000,000 per occurrence and $2,000,000 aggregate. Such excess or umbrella liability policy shall follow form with the primary
liability policies, and contain a drop-down provision in case of impairment of underlying limits. 

  
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 (d) Notwithstanding the provisions of Section 9.1(b) and (c),
Producer’s and Owner’s total coverage under both of their respective commercial general liability insurance in Section 9.1(b) and excess or umbrella liability policy in Section 9.1(c) must have combined limits
together totaling $4,000,000 for each occurrence and $4,000,000 aggregate. 
 (e) Worker’s Compensation
insurance providing statutory benefits for injury or disease in the state(s) of operation of Producer and Owner, and Employer’s Liability with limits of at least $500,000 for individual injury or disease, with an aggregate of $500,000 for
disease. 
 9.2 Policy Requirements. All insurance policies required by this Agreement will (a) provide coverage on
an “occurrence” basis; (b) provide that no cancellation or non-renewal will be effected without giving Bunge at least thirty (30) days prior written notice, except ten (10) days notice for non-payment of premium; and
(c) be valid and enforceable policies issued by insurers of recognized responsibility, properly licensed in the State where the Facility is located, with an A.M. Best’s Rating of A- or better and Class VII or better. General Liability and
Excess/Umbrella Liability policies will not contain a cross-liability exclusion, or an exclusion for punitive or exemplary damages where insurable under law. Prior to the Effective Date and, thereafter, within five business days of renewal,
certificates and endorsements of such insurance will be delivered to Bunge as evidence of the specified insurance coverage. From time to time, upon Bunge’s request, Producer and Owner will provide Bunge, within five business days, a certified
duplicate original of any policy required to be maintained hereunder. Producer and Owner will provide Bunge at least thirty (30) days prior written notice of any material change or amendment to a policy. 

10. Relationship of Parties. This Agreement creates no partnership, joint venture or other joint or mutual enterprise or undertaking created
hereby and neither Party, or any of such Party’s representatives, agents or employees, will be deemed to be the representative or employee of the other Party. Except as expressly provided herein or as otherwise specifically agreed in writing,
neither Party will have authority to act on behalf of or bind the other Party. 
 11. Governing Law; Disputes. 

11.1 Governing Law. This Agreement shall be governed by the laws of the state of Illinois, without regard to principles of
conflicts of laws. 
 11.2 Waiver of Jury Trial. EACH PARTY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO A TRIAL BY JURY IN
ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 12. Indemnification.

 12.1 Indemnification. Producer and Owner agree, jointly and severally, to indemnify, defend and hold Bunge and its
officers, directors, employees and agents harmless from any Loss suffered or incurred by Bunge arising out of, or in any way relating to: 

  
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 (a) any default by Producer or Owner of the terms of this Agreement;

 (b) Producer’s use or possession or operations on or at, or any action or failure to act at, the
Facility; 
 (c) any personal injury or property damage related to the use, possession, condition of, disposal
of, physical contact with or exposure to any products manufactured at the Facility; 
 (d) injuries or alleged
injuries suffered by Producer’s, Owner’s or Bunge’s employees in connection with performance under this Agreement at the Facility, whether or not under the direction of Bunge, Owner and/or the Producer; or 

(e) any violation or alleged violation of this Agreement or any Governmental Requirement by Producer, unless and to the
extent such Loss was directly caused by Bunge’s gross negligence, intentional breach or willful misconduct and in each case only to the extent Bunge is not otherwise compensated for such Loss by applicable insurance (to the extent actually
paid). 
 12.2 Definitions. For purposes of this Agreement: 

(a) “Governmental Requirement” means all laws, statutes, codes, ordinances and governmental rules,
regulations and requirements of any governmental authority that are applicable to the Parties, the property of the Parties or activities described in or contemplated by this Agreement. 

(b) “Loss” means any claim, loss, cost, expense, liability, fine, penalty, interest, payment or damage,
including but not limited to reasonable attorneys’ fees, accountants’ fees and any cost and expense of litigation, negotiation, settlement or appeal 
 13. Notices. All notices required or permitted under this Agreement will be in writing and will be deemed given and made: (i) if by personal delivery, on the date of such delivery,
(ii) if by facsimile, on the date sent (as evidenced by confirmation of transmission by the transmitting equipment), (iii) if by nationally recognized overnight courier, on the next business day following deposit, and (iv) if by
certified mail, return receipt requested, postage prepaid, on the third business day following such mailing; in each case addressed to the address or facsimile number shown below for such Party, or such other address or facsimile number as such
Party may give to the other Party by notice: 
 If to Bunge: 

Bunge North America, Inc. 
 11720 Borman Drive 
 St. Louis, Missouri 63146 

  
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 Attn: General Manager – Bunge Biofuels 

Facsimile: (314) 292-2110 
 with copy to: 
 Bunge North America, Inc. 

11720 Borman Drive 
 St. Louis, Missouri 63146 
 Attn: General Counsel 

Facsimile: (314) 292-2521 
 If to Producer: 
 REG Marketing & Logistics Group, LLC 

c/o Renewable Energy Group, Inc. 
 416 S. Bell Avenue, P.O. Box 888 
 Ames, Iowa 50010 

Attn: President 

Facsimile: (515) 239-8029 
 with copy to: 
 Wilcox, Polking, Gerken, Schwarzkopf & Copeland, P.C.

 115 E. Lincolnway, Suite 200 
 Jefferson, Iowa 50129-2149 
 Attn: John A. Gerken 

Facsimile: (515) 386-8531 
 If to Owner: 
 Blackhawk Biofuels, LLC 

210 W. Spring Street 
 Freeport, Illinois 61032 
 Attn: Chairman 

Facsimile: (815) 235-4727 
 with copy to: 
 Lindquist & Vennum PLLP 

4200 IDS Center 

80 South 8th Street 
 Minneapolis, Minnesota 55402-2205 
 Attn: Dean R. Edstrom 

Facsimile: (612) 371-3207 

14. Entire Agreement; No Third Party Beneficiaries. This Agreement constitutes the entire

  
 - 12 -

 
agreement between the Parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, both written and oral, between the Parties with respect to the
subject matter hereof. This Agreement does not, and is not intended to, confer any rights or remedies upon any person other than the Parties (or their Affiliates, successors, assignees or subcontractors to the extent set forth herein). 

15. Amendments; Waiver. The Parties may amend this Agreement only by a written agreement of the Parties. No provision of this Agreement may be
waived, except as expressly provided herein or pursuant to a writing signed by the Party against whom the waiver is sought to be enforced. No failure or delay in exercising any right or remedy or requiring the satisfaction of any condition under
this Agreement, and no “course of dealing” between the Parties, operates as a waiver or estoppel of any right, remedy or condition. A waiver made in writing on one occasion is effective only in that instance and only for the purpose that
it is given and is not to be construed as a waiver on any future occasion or against any other person. 
 16. Assignment. No Party may
assign this Agreement, or assign or delegate any of its rights, interests, or obligations under this Agreement, voluntarily or involuntarily, whether by merger, consolidation, dissolution, operation of law, or any other manner, without the prior
written consent of the other Party, and any purported assignment or delegation without such consent will be void, provided, that Bunge may assign this Agreement to any of its Affiliates without Producer’s prior consent. Subject to the preceding
sentences in this Section 16, this Agreement binds and benefits the Parties and their respective permitted successors and assigns. As used here, the term “Affiliate” means, with respect to a Party, any other entity
controlling, controlled by or under common control with the Party, with “control” for such purpose meaning either the possession, directly or indirectly, of the power to designate fifty percent (50%) or more of the Board of Directors
or Managers (or similar governing body) of the entity or the ownership, directly or indirectly, of fifty percent (50%) or more of the outstanding voting securities or voting interests. 
 17. Subcontracting. In connection with Bunge providing the Services, Bunge may subcontract with or otherwise retain the services of Bunge’s Affiliates, and Producer and Owner hereby consent to
such subcontracting activities for purposes of Section 16 hereof. Notwithstanding any such subcontracting by Bunge to its Affiliates, Bunge shall remain liable for performance under the terms of this Agreement. 

18. Severability. If a court or arbitrator with proper jurisdiction determines that any provision of this Agreement is illegal, invalid, or
unenforceable, the remaining provisions of this Agreement remain in full force. The Parties will negotiate in good faith to replace such illegal, invalid, or unenforceable provision with a legal, valid, and enforceable provision that carries out the
Parties’ intentions to the greatest lawful extent under this Agreement. 
 19. Interpretation. Each Party has been represented by
counsel during the negotiation of this Agreement and agrees that any ambiguity in this Agreement will not be construed against one of the Parties. 
 20. Further Assurances. Each Party will execute and cause to be delivered to the other Party 

  
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such instruments and other documents, and will take such other actions, as the other Party may reasonably request for the purpose of carrying out or evidencing any of the transactions
contemplated by this Agreement. 
 21. Counterparts. This Agreement may be executed by the Parties by facsimile and in separate
counterparts, each of which when so executed will be deemed to be an original and all of which together will constitute one and the same agreement. 
 [remainder of page intentionally left blank] 

  
 - 14 -

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed the day and year first above
written. 
  

									
	BUNGE NORTH AMERICA, INC.	 		 	REG MARKETING & LOGISTICS GROUP, LLC
					
	By:	 	/s/ Eric Hakmiller	 		 	By:	 	/s/ Gary Haer
	Name:	 	Eric Hakmiller	 		 	Name:	 	Gary Haer
	Title:	 	V.P. Bunge Biofuels	 		 	Title:	 	Vice President Sales and Marketing

  

			
	BLACKHAWK BIOFUELS, LLC
		
	By:	 	/s/ Daniel Oh
	Name:	 	Daniel Oh
	Title:	 	President

  
 - 15 -

 EXHIBIT A 
 FEEDSTOCK SPECIFICATIONS 
 Definitions of Tallow and Grease Specifications 

All analytical tests are to be performed in accordance with the American Oil Chemists’ Society (AOCS) methods. 

 

			
	 TITRE:
	  	The Titre determines the solidification point of fatty acids and is expressed in degrees centigrade (°C). For practical purposes the Titre can be considered as a measure of
the hardness or softness of the material in question.
		
	 F.F.A.:
	  	Means Free Fatty Acid. It is customarily reported in percentage of Oleic Acid.
		
	 FAC:
	  	Stands for Fat Analysis Committee. This method determines the color of Fats and Oils by comparison with AOCS FAC color standards.
		
	 R&B Color:
	  	Is the color after Refining and Bleaching and is expressed in terms of Red on a 5 1/4 inch cell or tube of AOCS methods.
		
	 M.E./K.:
	  	Peroxide Value is expressed in Milli Equivalents per Kilo and is a measure of Fat Oxidation.
		
	 M.I.U.:
	  	These common tests often grouped together and referred to as MIU content are:
		
		  	(M) Moisture and Volatile Matter
		
		  	(I) Insoluble Impurities
		
		  	(U) Unsaponifiable Matter
		
		  	All three are reported as percentages and serve to measure the amount of non-fatty matter present.
		
	 I.V.:
	  	Stands for Iodine Value. The iodine value is a measure of the unsaturation of fats and oils and is expressed in terms of the number of centigrams of iodine absorbed per gram of
sample. The iodine value of fat is another method of measuring the hardness or softness of fat.

 Standard Grades Specifications, and Quality Tolerances for Tallows and Greases 

Rule 7. The standard grades of tallows and greases as set forth below are the official American Fats and Oils Association export and domestic
grades. The specifications therefore shall govern trading in tallow and greases under these rules unless the written contract specifically provides otherwise. 

  
 - 16 -

																			
	Grade	  	Specifications	 
	 	  	 	  	Titre	 	  	FFA	 	  	FAC	  	R&B	  	MIU	 
	 	  	 	  	min.	 	  	max.	 	  	max.	  	max.	  	 	 
	1)	  	Edible Tallow	  	 	41.0	  	  	 	0.75	  	  	3	  	none	  	 	*	  
	2)	  	Lard (Edible)	  	 	38.0	  	  	 	0.50	  	  	**	  	none	  	 	*	  
	3)	  	Top White Tallow	  	 	41.0	  	  	 	2	  	  	5	  	0.5	  	 	1	  
	4)	  	All Beef Packer Tallow	  	 	42.0	  	  	 	2	  	  	none	  	0.5	  	 	1	  
	5)	  	Extra Fancy Tallow	  	 	41.0	  	  	 	3	  	  	5	  	none	  	 	1	  
	6)	  	Fancy Tallow	  	 	40.5	  	  	 	4	  	  	7	  	none	  	 	1	  
	7)	  	Bleachable Fancy Tallow	  	 	40.5	  	  	 	4	  	  	none	  	1.5	  	 	1	  
	8)	  	Prime Tallow	  	 	40.5	  	  	 	6	  	  	13-11B	  	none	  	 	1	  
	9)	  	Special Tallow	  	 	40.0	  	  	 	10	  	  	21	  	none	  	 	1	  
	10)	  	No. 2 Tallow	  	 	40.0	  	  	 	35	  	  	none	  	none	  	 	2	  
	11)	  	“A” Tallow	  	 	39.0	  	  	 	15	  	  	39	  	none	  	 	2	  
	12)	  	Choice White Grease	  	 	36.0	  	  	 	4	  	  	13-11B	  	none	  	 	1	  
	13)	  	Yellow Grease	  	 	***	  	  	 	****	  	  	39	  	none	  	 	2	  
	14)	  	“Technical Tallow (inedible)” as Grade 1A	  	 	41.0	  	  	 	0.75	  	  	3	  	none	  	 	*	  

  

	*	Moisture maximum 0.20%. Insoluble Impurities maximum 0.05% 

	**	 Lovibond Color 5 1/4 inch cell – Max. 1.5 Red. Lard Peroxide Value 4.0 ME/K Max. 

	***	Titre minimum, when required, to be negotiated between buyer and seller on a contract by contract basis. 

	****	FFA Maximum, when required, to be negotiated between buyer and seller on a contract by contract basis. 

Settlement for Deficiency of Specifications 
 Rule 8. Should any tender, other than a tender of Top White Tallow, or All Beef Packer Tallow, not meet contractual specifications, the following adjustments will be made, unless otherwise provided
in the contract: 
 TITRE: The seller shall allow the buyer 0.2% of contract price for each 0.1°C. titre deficiency, fractions in
proportion. The buyer may reject the tender when titre deficiency exceeds 0.5°C. 

  
 - 17 -

 F.F.A.: 
  

	 	A)	Where a contract specifies an FFA maximum of less that 10%, the seller shall allow the buyer 2% of contract price for each 1% of excess FFA, fractions in proportion,
however, the buyer may reject the tender if the FFA exceeds the contractual limit by more than 2.0% FFA. 

  

	 	B)	Where the contract specifies an FFA maximum of 10% or more, the seller shall allow the buyer 1% of contract price for each 1% of excess FFA, fractions in proportion,
however, the buyer may reject the tender if the FFA exceeds the contractual limit by more than 5.0% FFA. 

 FAC Color: The
seller shall allow the buyer 2% of contract price should the FAC color be one shade darker that the FAC color specified in the contract, however, if the FAC color is darker by 2 shades or more, the buyer may reject the tender. 

R&B Color: The seller shall allow the buyer 2% of contract price for each excessive 0.5 Red, fractions in proportion, however, if the R&B
Color exceeds the contractual limit by more than 0.5 Red, the buyer may reject the tender. 
 M.I.U.: The seller shall allow the buyer 1%
of contract price for each 1% of excess M.I.U., fractions in proportion, however, the buyer may reject the tender should the MIU exceed 2% when the contractual limit is 1% and 4% when the contractual limit is 2%. No premium will be due to the seller
for analytical results below the contractual limits. 
 Rule 9. Top White Tallow and All Beef Packer Tallow—Should any tender be
deficient in contractual quality specifications, settlement shall be made in accordance with provisions set forth in Rule 8, however, the tender may be rejected if the titre deficiency exceeds 0.5°C from contract specifications; or if the FFA
exceeds 2.5%; or if the R&B color exceeds 0.6 Red; or if the total M.I.U. exceeds 1%. 
 Rule 10. Edible Tallow and Lard (Edible)
– Should any tender be deficient in contractual quality specifications, settlement shall be made in accordance with provisions set forth in Rule 8, however, the tender may be rejected if: 

Edible Tallow  
 Titre deficiency exceeds 0.5°C, or 
 FFA exceeds 1%, or 

FAC color exceeds 3, or 
 Insoluble impurities exceed 0.10%, or 
 Moisture exceeds 0.20% 

Lard (Edible)  
 Titre deficiency exceeds 0.5°C, or 
 FFA exceeds 0.5%, or 

Lovibond color exceeds 1.5 Red, or 
 Peroxide Value exceeds 4.0 ME/K or 
 Insoluble impurities exceed 0.05%, or

 Moisture exceeds 0.20%. 
 Rule 11. No claim for deficiency in specifications or weights need be recognized unless made within thirty (30) days after the date of the applicable survey report on initial claims, and if

  
 - 18 -

 
the transaction is part of a chain, within fifteen (15) days after receipt of the survey report by each subsequent buyer. All uncontested claims shall be paid or settled within thirty
(30) days of the receipt of the claim by the original shipper, and of the transaction is part of a chain, within fifteen (15) days of the receipt of a claim by an intermediate shipper or buyer. 

Rule 12. When animal tallow and grease tendered are rejectable in accordance with these rules, the buyer, at his option, may reject the material
or may accept the material at an allowance to be agreed upon, or, if not agreed upon, then as may be fixed by arbitration as provided in these rules. 

  
 - 19 -

 EXHIBIT B 
 FORM OF SALES CONFIRMATION 
 

 
 SALES CONFIRMATION 
 Date:                          

Bunge North America, Inc. “Bunge” 

11720 Borman Drive 
 St. Louis, Missouri 63146

 REG Marketing & Logistics Group, LLC “Producer” 
 416 S. Bell Avenue, P.O. Box 888 
 Ames, Iowa 50010 

The following confirms the sale of Feedstock from Bunge to Producer in accordance with Section 2.3 of that certain Feedstock Purchase and Sale
Agreement between Bunge and Producer dated as of              (the “FPSA”). Bunge hereby agrees to sell, and Producer hereby agrees to purchase, in the amounts and on the
terms and conditions hereinafter set forth, the following: 
  

			
	 QUANTITY
	  	 GRADE AND COMMODITY

		  	
		  	
		  	
	 PRICE
	  	 UNDERLYING CONTRACT

		  	
		  	
		  	
	 SHIPMENT PERIOD
	  	 
		  	
		  	
		  	

 This Confirmation is subject to the FPSA WHICH CONTAINS IMPORTANT RISK ALLOCATION AND OTHER PROVISIONS AND SHOULD BE
REVIEWED CAREFULLY.  
 ADDITIONAL TERMS: 
  

									
	PRODUCER:	 		 	BUNGE:
					
	BY:	 	 	 		 	BY:	 	 
					
	Dated:	 	 	 		 		 	

  
 - 20 -Biodiesel Purchase and Sale Agreement

 Exhibit 10.39 
 BIODIESEL PURCHASE AND SALE AGREEMENT 
 (with tolling agreement)

 THIS BIODIESEL PURCHASE AND SALE AGREEMENT (this “Agreement”) is made and entered into as of
October 22, 2009 (“Effective Date”) by and between REG Marketing & Logistics Group, LLC, an Iowa limited liability company (“Producer”) and Bunge North America, Inc., a New York corporation
(“Bunge”) (each of Producer and Bunge, a “Party” and collectively, the “Parties”). Central Iowa Energy, LLC, an Iowa limited liability company (“Owner”) is executing this Agreement
solely for purposes of Section 2.4 of this Agreement. 
 RECITALS 

A. Producer has and will enter into one or more toll processing agreements (collectively, “Tolling Agreement”) with
Owner for processing of biodiesel at Owner’s biodiesel production facility located near the City of Newton, Jasper County, Iowa (the “Facility”). 
 B. Bunge and Renewable Energy Group, Inc. are parties to that certain Master Service Agreement dated May 8, 2009 (the “REG Master Agreement”). 

C. Producer desires to engage Bunge to purchase biodiesel produced at the Facility (“Biodiesel”) for resale to
purchasers in accordance with the terms set forth in this Agreement. 
 AGREEMENT 

Now, therefore, the Parties agree: 
 1. Biodiesel Purchase and Sale. 
 1.1 Biodiesel Transaction. Subject
to the terms of this Agreement, Bunge will purchase Biodiesel from Producer for resale to purchasers, and Producer will sell to Bunge such Biodiesel produced at the Facility during the Term (as hereinafter defined) (the “Services”).

 1.2 Sole Provider of Services. Subject to the terms of this Agreement, Producer agrees during the Term to use Bunge as
the sole provider of the Services described in this Agreement and not to engage any other third party to provide such Services. Notwithstanding the foregoing sentence, Producer shall be allowed to sell Biodiesel directly to the ultimate purchaser of
Biodiesel on Producer’s own behalf; provided, Producer may only use internally generated funds of Owner’s Renewable Energy Group, Inc. (“REG”) or an Affiliate of REG or funds obtained from Owner’s, REG’s or an
REG Affiliate’s senior secured credit facilities in connection with such transactions. 
 2. Biodiesel Sale Transactions.

 2.1 Location of Biodiesel Transactions. Producer shall be responsible for locating and negotiating the terms of
transactions with purchasers of Biodiesel (including price and terms of sale) (each a “Biodiesel Transaction”). Producer shall consult with Bunge periodically with 

  
 1 

 
respect to such activities and shall consult with Bunge with respect to the terms of and negotiations of such transactions. Producer may present to Bunge any such Biodiesel Transaction that is
acceptable to Producer and all accompanying information relating to such Biodiesel Transaction to allow Bunge to evaluate the Biodiesel Transaction. Upon presentation of any Biodiesel Transaction to Bunge, Bunge will have a period of up to 24 hours
to review the Biodiesel Transaction and determine whether it will agree to enter into such Biodiesel Transaction. Bunge’s determination as to whether it will agree to enter into any Biodiesel Transaction or decline to enter into a Biodiesel
Transaction shall be in Bunge’s sole and absolute discretion and, except as expressly provided in Section 7, Bunge shall have no liability to Producer with respect to such determination. If Bunge has declined to enter into such
Biodiesel Transaction, then such Biodiesel Transaction shall not be subject to the terms of this Agreement. 
 2.2 Production
Estimates. At least 30 days before the beginning of each calendar month during the Term, Producer will deliver to Bunge a written estimate of its anticipated biodiesel production volumes under the Tolling Agreement for the Facility for the 90
day period beginning on the first day of such month. 
 2.3 Resale of Biodiesel. 

(a) Contracting and Sales Confirmations. With respect to any Biodiesel Transaction that has been accepted by Bunge
pursuant to Section 2.1, Bunge will take assignment of an executed sales contract (or portion thereof) from Producer for the sale of the Biodiesel to the applicable purchaser upon the terms presented by Producer to Bunge (collectively,
“Contracts”). Upon assignment of any executed sales contract by Producer to Bunge, such assignment shall be evidenced by an assignment in the form attached hereto as Exhibit A. Bunge shall not take assignment of any Contract
(or portion thereof) unless and until (i) Producer has produced Biodiesel to cover amounts required by such Contract (or portion thereof, as applicable) and the Biodiesel is loaded for immediate shipment to the applicable purchaser, and
(ii) the Contract shall have been duly executed by the third party thereto and shall expressly authorize assignment of such Contract (or portion thereof) to Bunge. Upon the assignment of any Contract, Producer and Bunge shall immediately enter
into a sales confirmation evidencing the purchase by Bunge from Producer of all Biodiesel (“Contracted Biodiesel Volume”) covered by the applicable Contract. Each such sales confirmation shall be in the form attached hereto as
Exhibit B (each, a “Sales Confirmation”) and shall set the applicable per gallon sale price (each, a “Confirmed Sale Price”) equal to the price set forth in the applicable Contract. Each Sales
Confirmation shall also set forth the applicable Party that shall bear the cost of freight to the purchaser and the applicable delivery terms. The cost of any demurrage for transportation of Biodiesel shall be passed along by Bunge and charged to
Producer. To the extent that freight for shipment of Biodiesel to the purchaser is arranged by the Producer, then the Producer shall assign such contract for freight or carriage to Bunge prior to shipment thereof. No Sales Confirmation may alter the
terms of this Agreement. To the extent that the terms of a Sales Confirmation conflict with the terms of this Agreement, the terms of this Agreement shall control. 

(b) Delivery. Producer will deliver (or Producer will cause the Owner to deliver) and make the Biodiesel available
for shipment to purchasers at the Facility or as otherwise agreed by the Parties (the “Delivery Destination”). Producer will direct (or Producer 

  
 2 

 
will cause the Owner to direct) the loading of all Biodiesel purchased hereunder. All labor and equipment necessary to load Biodiesel for transportation from the Facility pursuant to Contracts
will be supplied by Producer (or Owner) without additional charge to Bunge. Producer agrees to handle (or cause the Owner to handle) the loading of all Biodiesel in a good and workmanlike manner in accordance with Bunge’s reasonable
requirements and normal industry practice. Producer will maintain or cause the Owner to maintain (at Producer’s own expense) its loading facilities at the applicable loading location in accordance with applicable laws and regulations and in
safe operating condition in accordance with normal industry standards. Producer will be responsible for any additional costs to Bunge resulting from any breach by Producer to meet its obligations set forth in this Section 2.3(c). If
Producer or Owner fails to deliver and make Biodiesel available for shipment or otherwise causes Bunge to be in default under the terms of a Contract (either, a “Producer Default”), Bunge will utilize commercially reasonable efforts
to mitigate or remedy such Producer Default after consultation with Producer. Such efforts may include, without limitation, Bunge arranging for purchase and delivery of substitute Biodiesel. Producer will defend, indemnify and hold Bunge harmless
for, all costs, liabilities and expenses of Bunge incurred in connection with any Producer Default, including, without limitation, reasonable attorney fees, storage costs, price adjustments, rail/truck demurrage and freight costs. 

(c) Title. Title, risk of loss and full shipping responsibility shall pass to Bunge upon Producer loading the
Biodiesel into trucks or rail cars at the Delivery Location as directed by Bunge and delivery to Bunge of a bill of lading for each shipment. Bunge and Producer shall agree upon documented inspection, loading and sealing procedures. 

(d) Quality; Shrinkage. Producer shall be responsible for any failure of Biodiesel to comply with the
“Biodiesel Quality Standards” set forth in Exhibit C attached hereto. Producer and not Bunge shall be responsible for and bear the cost of any differences between the volume of Biodiesel purchased by Bunge for shipment to a
purchaser pursuant to a Contract and the corresponding volume of Biodiesel upon arrival to the purchaser (“Shrinkage”). If any Biodiesel supplied under this Agreement fails to comply with the Biodiesel Quality Standards and any
purchaser seeks a remedy against Bunge for the non-compliant Biodiesel or for Shrinkage or rejects or returns Biodiesel, then Producer shall reimburse all costs and expenses of Bunge (including, without limitation, reasonable attorney fees)
associated therewith. 
 2.4 Owner’s Obligations and Representations. 

(a) During the Term, Owner agrees not to enter into any tolling agreement without Bunge’s prior written consent. To
the extent Owner enters into any tolling agreement with a third party, Owner agrees to segregate any feedstock and biodiesel owned by such other third party from feedstock and Biodiesel of Producer. Owner hereby waives any lien or security interest
(statutory or otherwise) which Owner may hold on Biodiesel sold by Producer to Bunge hereunder. Owner hereby acknowledges and agrees the Bunge shall have the benefit of all representations and warranties granted or made by Owner to Producer with
regard to the quality of Biodiesel produced by Owner under the Tolling Agreement and Owner further agrees that Bunge may exercise any remedies for a breach of such representations or warranties against Owner directly with respect to any Biodiesel
purchased by Bunge hereunder. Notwithstanding anything contained in this Agreement to the contrary, Bunge shall have no liability to Owner 

  
 3 

 
under the Tolling Agreement. 
 (b) Owner hereby represents
and warrants to Bunge that all necessary corporate or limited liability company action, as the case may be, has been taken for the authorization, execution, delivery and performance of this Agreement; the execution, delivery and performance of this
Agreement by Owner does not, and will not, violate or constitute a breach of or default under any Governmental Requirement or any indenture, contract or other instrument to which Producer or its assets are bound or to which its business is subject.

 3. Quantity. 

3.1 Meters. Producer will determine (or cause the Owner to determine) the quantity of Biodiesel (expressed in both gross and net
60° Fahrenheit temperature compensated gallons) delivered for transportation from the Facility using meters at the Facility. Producer will maintain or cause the Owner to maintain (at its expense) the accuracy of such meters and ensure that they
are inspected and certified as required by applicable law. Upon Bunge’s request, Producer will promptly provide Bunge with copies of all meter certifications. Bunge may, at its sole expense, test the accuracy of such meters. Producer will
maintain all meter certificates for at least two years after their creation and provide copies of such meter certificates to Bunge upon request. If the meters are found to be inaccurate, the Parties will negotiate in good faith a reasonable
adjustment for Biodiesel sales reasonably believed to have been affected. 
 3.2 Meter Certificates. The net 60°
Fahrenheit temperature compensated gallon volumes of Biodiesel recorded on outbound meter certificates generated pursuant to Section 3.1 will determine the quantity of Biodiesel for which Bunge is obligated to pay pursuant to
Section 4, in the absence of manifest error (greater than 0.5% variation). Producer will provide a copy of each such meter certificate to Bunge at the same time that a truck or rail car is loaded and a certificate is produced for such
loading. 
 4. Price and Payment. 
 4.1 Price. Bunge will pay the purchase price for all Biodiesel at the time of execution of the Sales Confirmation. Bunge will pay the purchase price by wire transfer. 

4.2 Tax. For purposes of personal property taxation and/or assessment or other similar taxation, if any, any tax assessed on
Biodiesel acquired by Bunge will be the responsibility of Producer or the purchaser of such Biodiesel from Bunge, and at no time will Bunge be responsible for the payment of any such tax. 

4.3 Additional Fees. The Parties acknowledge that fees payable with respect to the Services performed hereunder shall be paid to
Bunge pursuant to the REG Master Agreement. 
 5. Term and Termination. 

5.1 Term. The initial term of this Agreement will begin upon execution of this Agreement by both Parties and, unless earlier
terminated in accordance with the terms hereof, will expire upon the third anniversary of the Effective Date. Unless earlier terminated in accordance 

  
 4 

 
with this Agreement, this Agreement will automatically renew for successive three-year terms thereafter unless either Party gives written notice to the other Party of its election not to renew,
no later than 180 days prior to the expiration of the initial term or the then current renewal term, as applicable. The “Term” will be the total of the initial term of this Agreement and any renewal terms. 

5.2 Termination Rights. 
 (a) Bunge may terminate this Agreement (i) immediately upon notice to Producer if Producer has breached any material representation, warranty, or obligation under this Agreement (including the
failure to make any payment hereunder when due), (ii) at any time, with or without cause, upon at least 15 days prior written notice to Producer; provided, that if at any time the four month rolling average of production at the Facility is
greater than forty percent (40%) of the nameplate capacity for such Facility (“Capacity Test”), then the requirement to provide at least 15 days prior written notice shall be extended to 45 days during the period of time that
the Capacity Test is met, and/or (iii) immediately upon termination of the Tolling Agreement. 
 (b)
Producer may terminate this Agreement immediately upon notice to Bunge if Bunge has (i) breached any material representation, warranty, or obligation under this Agreement, and (ii) failed to remedy such breach within 30 days after Producer
has given notice of such breach, or if such breach cannot reasonably be cured within such 30-day period, as soon as reasonably possible, but in all events within 45 days after Producer has given notice of such breach. 

(c) Either Party may terminate this Agreement immediately upon notice to the other Party if (i) such other Party
files a petition for adjudication as bankrupt, for reorganization or for an arrangement under any bankruptcy or insolvency law; (ii) an involuntary petition under such law is filed against such other Party and is not dismissed, vacated or
stayed within 60 days thereafter; or (iii) such other Party makes an assignment of all or substantially all of its assets for the benefit of its creditors. 
 (d) Producer acknowledges that Bunge has additional rights to terminate this Agreement as are set forth in the REG Master Agreement. 

(e) Owner may terminate this Agreement upon 10 days notice to Bunge and Producer (i) if the Tolling Agreement
terminates without renewal or replacement thereof, (ii) if the Agreement and Plan of Merger by and among the Owner, Renewable Energy Group, Inc., REG Newco, Inc. and REG Danville, LLC dated May 11, 2009 (the “Merger Agreement”)
terminates, and (iii) if the Closing under the Merger Agreement has not occurred by January 8, 2010. 
 5.3
Survival. The provisions of this Agreement which expressly or by their nature survive expiration or termination of this Agreement, including, but not limited to, Sections 2, 4, 5, 6, 7, 8, 12 and 13, will remain in effect after the expiration
or termination of this Agreement. 
 6. Representations and Warranties. Producer represents and warrants to Bunge that all necessary
corporate or limited liability company action, as the case may be, has been taken for the 

  
 5 

 
authorization, execution, delivery and performance of this Agreement; the execution, delivery and performance of this Agreement by Producer does not, and will not, violate or constitute a breach
of or default under any Governmental Requirement or any indenture, contract or other instrument to which Producer or its assets are bound or to which its business is subject. 
 7. Limitation of Liability; General Disclaimer. EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, BUNGE MAKES NO STATUTORY, WRITTEN, ORAL, EXPRESSED OR IMPLIED WARRANTIES, REPRESENTATIONS OR
GUARANTEES OF ANY KIND CONCERNING THE SERVICES PROVIDED BY BUNGE OR ITS AFFILIATES UNDER THIS AGREEMENT. EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, NEITHER BUNGE NOR ITS AFFILIATES, NOR ANY OTHER PARTY PROVIDING SERVICES HEREUNDER (INCLUDING
ANY SUBCONTRACTOR ALLOWED TO PROVIDE SERVICES BY THIS AGREEMENT), WILL BE LIABLE TO PRODUCER, OWNER OR ANY OTHER PERSON OR ENTITY FOR DAMAGES ARISING OUT OF, RELATING TO OR RESULTING FROM SERVICES PROVIDED UNDER THIS AGREEMENT OR THE FAILURE TO
PROVIDE SERVICES UNDER THIS AGREEMENT, EXCEPT TO THE EXTENT SUCH DAMAGES ARISE OUT OF OR RESULT FROM THE GROSS NEGLIGENCE, INTENTIONAL BREACH OR WILLFUL MISCONDUCT OF BUNGE OR SUCH PARTY PROVIDING SERVICES (INCLUDING ANY SUBCONTRACTOR ALLOWED TO
PROVIDE SERVICES BY THIS AGREEMENT); PROVIDED, THAT THE AGGREGATE AMOUNT OF ALL SUCH DAMAGES UNDER THIS AGREEMENT IN ANY FISCAL YEAR WILL NOT EXCEED $200,000. THE REMUNERATION TO BE PAID FOR THE SERVICES TO BE PERFORMED REFLECTS THIS LIMITATION OF
LIABILITY. IN NO EVENT WILL BUNGE OR ANY OF ITS AFFILIATES OR ANY OTHER PARTY PROVIDING SERVICES HEREUNDER (INCLUDING ANY SUBCONTRACTOR ALLOWED TO PROVIDE SERVICES BY THIS AGREEMENT) BE LIABLE TO PRODUCER, OWNER OR ANY OTHER PERSON OR ENTITY FOR ANY
INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES UNDER ANY CIRCUMSTANCES. 
 8. Remedies. 

8.1 Suspend Performance. Bunge may suspend its performance under this Agreement until Producer has paid all amounts due under this
Agreement if Producer fails to pay any amount within three business days after the date when such amount is due and uncured under this Agreement. 
 8.2 Specific Enforcement. The Parties shall have the right and remedy to seek to have the provisions of this Agreement specifically enforced by any court having equity jurisdiction without the
necessity of posting any bond, it being acknowledged and agreed by the parties that the scope of the provisions of this Agreement are reasonable under the circumstances. 
 8.3 Rights Not Exclusive. No right, power or remedy conferred by this Agreement will be exclusive of any other right, power or remedy now or hereafter available to a Party at law, in equity, by
statute or otherwise. 

  
 6 

 8.4 Rights in REG Master Agreement. The Parties acknowledge that Bunge has additional
rights with respect to this Agreement as are set forth in the REG Master Agreement. 
 9. Force Majeure. 

9.1 Definition of Force Majeure Event. Each Party is excused from performing its obligations under this Agreement to the extent
that such performance is prevented by an act or event (a “Force Majeure Event”) whether or not foreseen, that: (i) is beyond the reasonable control of, and is not due to the fault or negligence of, such Party, and
(ii) could not have been avoided by such Party’s exercise of due diligence, including, but not limited to, a labor controversy, strike, lockout, boycott, transportation stoppage, action of a court or public authority, fire, flood,
earthquake, storm, war, civil strife, terrorist action, epidemic, or act of God; provided that a Force Majeure Event will not include economic hardship, changes in market conditions, or insufficiency of funds. Notwithstanding the foregoing
sentence, a Force Majeure Event does not excuse any obligation to make any payment required by this Agreement and will not affect either Party’s right to terminate this Agreement pursuant to Section 5.2. 

9.2 Conditions Regarding Force Majeure Event. A Party claiming a Force Majeure Event must: (i) use commercially reasonable
efforts to cure, mitigate, or remedy the effects of its nonperformance; provided that neither Party will have any obligation hereunder to settle a strike or labor dispute; (ii) bear the burden of demonstrating its existence; and
(iii) notify the other Party of the occurrence of the Force Majeure Event as quickly as reasonably possible, but no later than five business days after learning of the occurrence of the Force Majeure Event. Any Party that fails to notify the
other Party of the occurrence of a Force Majeure Event as required by this Section 9.2 will forfeit its right to excuse performance of its obligations due to such Force Majeure Event. When a Party claiming a Force Majeure Event is able
to resume performance of its obligations under this Agreement, it will immediately give the other Party notice to that effect and resume performance. 
 9.3 Third Parties; Termination. During any period that a Party claiming a Force Majeure Event is excused from performance under this Agreement, the other Party may accept performance from other
parties as it may reasonably determine under the circumstances. 
 10. Insurance. 

10.1 Other Required Coverage. 
 (a) Producer will maintain automobile liability insurance covering owned, hired, and non-owned vehicles against claims for bodily injury, death and property damage, with a combined single limit of not
less than $1,000,000, or equivalent coverage using split limits. Such insurance will name Bunge, its parents, subsidiaries and Affiliates as additional insureds thereunder, and will be primary to any other insurance available to Bunge, its parents,
subsidiaries and Affiliates as insureds or otherwise. 
 (b) Producer will maintain commercial general liability
insurance (including, without limitation, coverage for Contractual Liability and Products/Completed Operations) 

  
 7 

 
against claims for bodily injury, death and property damage, with limits of not less than $1,000,000 for each occurrence and $1,000,000 in the General and Products/Completed Operations Aggregate.
Such insurance will name Bunge, its parents, subsidiaries and Affiliates as additional insureds there under, and will be primary and non-contributory to any other insurance available to Bunge, its parents, subsidiaries and Affiliates as insureds or
otherwise. 
 (c) An excess or umbrella liability policy with a limit of not less than $2,000,000 per occurrence
and $2,000,000 aggregate. Such excess or umbrella liability policy shall follow form with the primary liability policies, and contain a drop-down provision in case of impairment of underlying limits. 

(d) Notwithstanding the provisions of Section 10.1(b) and (c), Producer’s total coverage under both its
commercial general liability insurance in Section 10.1(b) and excess or umbrella liability policy in Section 10.1(c) must have combined limits together totalling $4,000,000 for each occurrence and $4,000,000 aggregate.

 (e) Worker’s Compensation insurance providing statutory benefits for injury or disease in the state(s) of
operation of Producer, and Employer’s Liability with limits of at least $500,000 for individual injury or disease, with an aggregate of $500,000 for disease. 
 10.2 Policy Requirements. All insurance policies required by this Agreement will (a) provide coverage on an “occurrence” basis; (b) provide that no cancellation or non-renewal
will be effected without giving Bunge at least thirty (30) days prior written notice, except ten (10) days notice for non-payment of premium; and (c) be valid and enforceable policies issued by insurers of recognized responsibility,
properly licensed in the State where the Facility is located, with an A.M. Best’s Rating of A- or better and Class VII or better. General Liability and Excess/Umbrella Liability policies will not contain a cross-liability exclusion, or an
exclusion for punitive or exemplary damages where insurable under law. Prior to the Effective Date and, thereafter, within five business days of renewal, certificates and endorsements of such insurance will be delivered to Bunge as evidence of the
specified insurance coverage. From time to time, upon Bunge’s request, Producer will provide Bunge, within five business days, a certified duplicate original of any policy required to be maintained hereunder. Producer will provide Bunge at
least thirty (30) days prior written notice of any material change or amendment to Producer’s policy. 
 11. Relationship of
Parties. This Agreement creates no partnership, joint venture or other joint or mutual enterprise or undertaking created hereby and neither Party, or any of such Party’s representatives, agents or employees, will be deemed to be the
representative or employee of the other Party. Except as expressly provided herein or as otherwise specifically agreed in writing, neither Party will have authority to act on behalf of or bind the other Party. 

12. Governing Law; Disputes. 
 12.1 Governing Law. This Agreement shall be governed by the laws of the state of Iowa, without regard to principles of conflicts of laws. 

  
 8 

 12.2 Waiver of Jury Trial. EACH PARTY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO A
TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 13.
Indemnification. 
 13.1 Indemnification by Producer. Producer agrees to indemnify, defend and hold Bunge and its
officers, directors, employees and agents harmless from any Loss suffered or incurred by Bunge arising out of, or in any way relating to: 
 (a) any default by Producer of the terms of this Agreement; 
 (b)
Producer’s use or possession or operations on or at, or any action or failure to act at, the Facility; 

(c) any personal injury or property damage related to the use, possession, condition of, disposal of, physical contact
with or exposure to any products manufactured at the Facility; 
 (d) injuries or alleged injuries suffered by
Producer’s or Bunge’s employees in connection with performance under this Agreement at the Facility, whether or not under the direction of Bunge and/or the Producer; or 

(e) any violation or alleged violation of this Agreement or any Governmental Requirement by Producer, unless and to the
extent such Loss was directly caused by Bunge’s gross negligence, intentional breach or willful misconduct and in each case only to the extent Bunge is not otherwise compensated for such Loss by applicable insurance (to the extent actually
paid). 
 13.2 Definitions. For purposes of this Agreement: 

(a) “Governmental Requirement” means all laws, statutes, codes, ordinances and governmental rules,
regulations and requirements of any governmental authority that are applicable to the Parties, the property of the Parties or activities described in or contemplated by this Agreement. 

(b) “Loss” means any claim, loss, cost, expense, liability, fine, penalty, interest, payment or damage,
including but not limited to reasonable attorneys’ fees, accountants’ fees and any cost and expense of litigation, negotiation, settlement or appeal 
 14. Notices. All notices required or permitted under this Agreement will be in writing and will be deemed given and made: (i) if by personal delivery, on the date of such delivery,
(ii) if by facsimile, on the date sent (as evidenced by confirmation of transmission by the transmitting equipment), (iii) if by nationally recognized overnight courier, on the next business day following

  
 9 

 
deposit, and (iv) if by certified mail, return receipt requested, postage prepaid, on the third business day following such mailing; in each case addressed to the address or facsimile number
shown below for such Party, or such other address or facsimile number as such Party may give to the other Party by notice: 
 If
to Bunge: 
 Bunge North America, Inc. 
 11720 Borman Drive 
 St. Louis, Missouri 63146 

Attn: General Manager – Bunge Biofuels 
 Facsimile: (314) 292-2110 
 with copy to: 

Bunge North America, Inc. 
 11720 Borman Drive 
 St. Louis, Missouri 63146 

Attn: General Counsel 
 Facsimile: (314) 292-2521 
 If to Producer: 

REG Marketing & Logistics Group, LLC 
 416 S. Bell Avenue, P.O. Box 888 
 Ames, Iowa 50010 

Attn: President 

Facsimile: (515) 239-8029 
 with copy to: 
 Wilcox, Polking, Gerken, Schwarzkopf & Copeland, P.C.

 115 E. Lincolnway, Suite 200 
 Jefferson, Iowa 50129-2149 
 Attn: John A. Gerken 

Facsimile: (515) 386-8531 
 If to Owner: 
 Central Iowa Energy, LLC 

3426 E. 28th Street, N 
 Newton, Iowa 50208 
 Attn: James Johnston 

Facsimile: 641-791-1192 
 with copy to: 

  
 10 

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

666 Grand Avenue, Suite 2000 
 Des Moines, Iowa 50309 
 Attn: Thomas D. Johnson 

Facsimile: (515) 323-8514 

15. Entire Agreement; No Third Party Beneficiaries. This Agreement constitutes the entire agreement between the Parties with respect to the
subject matter hereof and supersedes all prior agreements and understandings, both written and oral, between the Parties with respect to the subject matter hereof. This Agreement does not, and is not intended to, confer any rights or remedies upon
any person other than the Parties (or their Affiliates, successors, assignees or subcontractors to the extent set forth herein). 
 16.
Amendments; Waiver. The Parties may amend this Agreement only by a written agreement of the Parties. No provision of this Agreement may be waived, except as expressly provided herein or pursuant to a writing signed by the Party against whom
the waiver is sought to be enforced. No failure or delay in exercising any right or remedy or requiring the satisfaction of any condition under this Agreement, and no “course of dealing” between the Parties, operates as a waiver or
estoppel of any right, remedy or condition. A waiver made in writing on one occasion is effective only in that instance and only for the purpose that it is given and is not to be construed as a waiver on any future occasion or against any other
person. 
 17. Assignment. No Party may assign this Agreement, or assign or delegate any of its rights, interests, or obligations under
this Agreement, voluntarily or involuntarily, whether by merger, consolidation, dissolution, operation of law, or any other manner, without the prior written consent of the other Party, and any purported assignment or delegation without such consent
will be void, provided, that Bunge may assign this Agreement to any of its Affiliates without Producer’s prior consent. Subject to the preceding sentences in this Section 17, this Agreement binds and benefits the Parties and their
respective permitted successors and assigns. As used here, the term “Affiliate” means, with respect to a Party, any other entity controlling, controlled by or under common control with the Party, with “control” for such
purpose meaning either the possession, directly or indirectly, of the power to designate fifty percent (50%) or more of the Board of Directors or Managers (or similar governing body) of the entity or the ownership, directly or indirectly, of
fifty percent (50%) or more of the outstanding voting securities or voting interests. 
 18. Subcontracting. In connection with
Bunge providing the Services, Bunge may subcontract with or otherwise retain the services of Bunge’s Affiliates, and Producer hereby consents to such subcontracting activities for purposes of Section 17 hereof. Notwithstanding any
such subcontracting by Bunge to its Affiliates, Bunge shall remain liable for performance under the terms of this Agreement. 
 19.
Severability. If a court or arbitrator with proper jurisdiction determines that any provision of this Agreement is illegal, invalid, or unenforceable, the remaining provisions of this Agreement remain in full force. The Parties will negotiate
in good faith to replace such illegal, invalid, or 

  
 11 

 
unenforceable provision with a legal, valid, and enforceable provision that carries out the Parties’ intentions to the greatest lawful extent under this Agreement. 

20. Interpretation. Each Party has been represented by counsel during the negotiation of this Agreement and agrees that any ambiguity in this
Agreement will not be construed against one of the Parties. 
 21. Further Assurances. Each Party will execute and cause to be delivered
to the other Party such instruments and other documents, and will take such other actions, as the other Party may reasonably request for the purpose of carrying out or evidencing any of the transactions contemplated by this Agreement. 

22. Counterparts. This Agreement may be executed by the Parties by facsimile and in separate counterparts, each of which when so executed will be
deemed to be an original and all of which together will constitute one and the same agreement. 
 [remainder of page
intentionally left blank] 

  
 12 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed the day and year first above
written. 
  
  

									
	BUNGE NORTH AMERICA, INC.	 		 	REG MARKETING & LOGISTICS GROUP, LLC
					
	By:	 	/S/ ERIC HAKMILLER	 		 	By:	 	/S/ GARY HAER
	Name:	 	Eric Hakmiller	 		 	Name:	 	Gary Haer
	Title:	 	V.P. Bunge Biofuels	 		 	Title:	 	Vice President Sales and Marketing
			
	Executed solely for purposes of Section 2.4:	 		 	
			
	CENTRAL IOWA ENERGY, LLC	 		 	
					
	By:	 	/S/ JIM JOHNSTON	 		 		 	
	Name:	 	Jim Johnston	 		 		 	
	Title:	 	Chairman	 		 		 	

  
 13 

 EXHIBIT A 
 FORM OF ASSIGNMENT 
 ASSIGNMENT 

This Assignment (“Assignment”) is made as of the
             day of                     , 2010, by and between REG
MARKETING & LOGISTICS GROUP, LLC, an Iowa limited liability company (“REG”), and BUNGE NORTH AMERICA, INC., a New York corporation (“Bunge”). 
 This Assignment is entered into pursuant to the terms of that certain Biodiesel Purchase and Sale Agreement (with tolling agreement) by and between REG and Bunge dated as of
            , 20     (“Biodiesel Purchase and Sale Agreement”). 
 REG hereby assigns to Bunge the following: 
 All of REG’s rights and
obligations under that certain REG Contract #                         entered into with
                        , as Buyer, but only with respect to REG’s rights and obligations under such REG Contract
with respect to the following deliveries of biodiesel under such contract: 
  

			
	 Volume of Biodiesel
	  	 Delivery Date

	[insert]	  	[insert]

 For the avoidance of doubt, Bunge does not assume all of REG’s rights and obligations under the
above referenced REG Contract, but only such rights and obligations with respect to the designated deliveries of biodiesel set forth above. 
 This Assignment shall be governed by the terms of the Biodiesel Purchase and Sale Agreement. Except as expressly provided in the Biodiesel Purchase and Sale Agreement, Bunge hereby assumes all
risk of loss as it relates to Buyer’s performance of its obligations with respect to the designated deliveries of biodiesel set forth above, including, without limitation, Buyer’s obligation to pay the purchase price for the designated
deliveries. 
 In the event of any conflict or inconsistency between the terms of this Assignment and the Biodiesel Purchase and
Sale Agreement, the terms of the Biodiesel Purchase and Sale Agreement shall control. 
 IN WITNESS WHEREOF, Bunge and REG have
executed this Assignment as of the date first written above. 
  

			
	REG MARKETING & LOGISTICS GROUP, LLC
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 14 

 
			
	BUNGE NORTH AMERICA, INC.
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 15 

 EXHIBIT B 
 FORM OF SALES CONFIRMATION 
 

 
 SALES CONFIRMATION 

 

			
	Bunge North America, Inc. “Bunge”	  	Date: _______________
	11720 Borman Drive	  	
	St. Louis, Missouri 63146	  	

 REG Marketing & Logistics Group, LLC “Producer” 

416 S. Bell Avenue, P.O. Box 888 
 Ames, Iowa
50010 
 The following confirms the sale of Biodiesel from Producer to Bunge in accordance with Section 2.3 of that certain Biodiesel
Purchase and Sale Agreement between Bunge and Producer dated as of              (the “BPSA”). Producer hereby agrees to sell, and Bunge hereby agrees to purchase, in the
amounts and on the terms and conditions hereinafter set forth, the following: 
  

			
	 QUANTITY
	  	 GRADE AND COMMODITY

		  	
		  	
		  	
	 PRICE
	  	 UNDERLYING CONTRACT

		  	
		  	
		  	
	 SHIPMENT PERIOD
	  	 
		  	
		  	
		  	

 This Confirmation is subject to the BPSA WHICH CONTAINS IMPORTANT RISK ALLOCATION AND OTHER PROVISIONS AND SHOULD BE
REVIEWED CAREFULLY.  
 ADDITIONAL TERMS: 
  

									
	PRODUCER:	 		 	BUNGE:
					
	BY:	 	 	 		 	BY:	 	 
					
	Dated:	 	 	 		 		 	

  
 16 

 EXHIBIT C 
 QUALITY STANDARDS 
 ASTM D 6751-08 Requirements for Biodiesel (B100)

  

					
	 Test
	  	 Method
	  	 Specification

	Cloud Point	  	ASTM D 2500	  	Report °C
			
	Free Glycerin	  	ASTM D 6584	  	0.020 % mass [max]
			
	Total Glycerin	  	ASTM D 6584	  	0.240 % mass [max]
			
	Water and Sediment	  	ASTM D 2709	  	0.050 % volume [min]
			
	Acid Number	  	ASTM D 664	  	0.50 mg KOH/g [max]
			
	Visual Inspection	  	ASTM D 4176	  	2 [max]
			
	Relative Density @ 15°C	  	ASTM D 1298	  	Report
			
	Kinematic Viscosity at 40°C	  	ASTM D 445	  	1.9—6.0 mm2/s
			
	Sulfur Content	  	ASTM D 5453	  	15 ppm [max]
			
	Copper Strip Corrosion	  	ASTM D 130	  	No. 3 [max]
			
	Sodium & Potassium Content	  	EN 14538	  	5.0 ppm [max]
			
	Calcium & Magnesium Content	  	EN 14538	  	5.0 ppm [max]
			
	Cold Soak Filterability	  	ASTM D 6751 Annex A1	  	360 seconds [max]
			
	Oxidation Stability	  	EN 14112	  	3.0 hr [min]
			
	Cetane Number	  	ASTM D 613	  	47 [min]
			
	Flash Point	  	ASTM D 93	  	93°C [min]
			
	Alcohol Control: Methanol Content	  	EN 14110	  	0.20 mass% [max]
			
	Phosphorus Content	  	ASTM D 4951	  	10.0 ppm [max]
			
	Carbon Residue	  	ASTM D 4530	  	0.050 % mass [max]
			
	Sulfated Ash	  	ASTM D 874	  	0.020 % mass [max]
			
	Distillation at 90% Recovered	  	ASTM D 1160	  	360 °C [max]

  
 17

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