Document:

Exhibit 10.3

 

FIRST AMENDMENT TO BLACKHAWK BIOFUELS,
LLC

TOLL PROCESSING AGREEMENT

 

THIS FIRST AMENDMENT TO
BLACKHAWK BIOFUELS, LLC TOLL PROCESSING AGREEMENT
(this “Amendment”) is made and entered effective the 1st day of July, 2009 by
and between Blackhawk Biofuels, LLC, a Delaware
limited liability company (“Blackhawk Biofuels”) and REG Marketing & Logistics Group, LLC, an Iowa
limited liability company (“REG Marketing”).

 

RECITALS

 

A.                                   Blackhawk Biofuels and REG Marketing
entered into a Blackhawk Biofuels, LLC Toll
Processing Agreement effective July 1, 2009 (the “Agreement”).

 

B.                                     The Agreement
provides for REG Marketing to arrange for the
purchase and delivery of animal fats and other feedstocks
to Blackhawk Biofuels for processing into biodiesel.

 

C.                                     Blackhawk Biofuels, REG Marketing and Bunge
North America, Inc., a New York corporation (“Bunge”) have entered into a
Feedstock Purchase and Sale Agreement, pursuant to which REG
Marketing engages Bunge to purchase supplies of corn oil, animal fats and other
products as feedstock for resale to REG Marketing for
biodiesel production at the Facility.

 

D.                                    Blackhawk Biofuels and REG Marketing desire
to amend the Toll Processing Agreement to allow for Bunge to own the Feedstocks prior to Bunge’s resale of the Feedstock to REG Marketing for biodiesel
production at the Facility and otherwise store the Feedstocks
at the Facility.

 

AGREEMENT

 

NOW, THEREFORE, in
consideration of the mutual benefits and obligations herein provided and other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Blackhawk Biofuels and REG Marketing agree as follows:

 

1.                                       Section 1(a) of the Agreement shall be
amended to include the following language at the end of the existing language:

 

Any Feedstocks
purchased by Bunge North America, Inc. (“Bunge”) pursuant to the terms of
a Feedstock Purchase and Sale Agreement dated June 30, 2009 (the “Feedstock
Agreement”) by and between Blackhawk Biofuels, REG Marketing and Bunge shall be included in determining whether
the Facility Commitment has been met. 
Any purchase of Feedstocks by Bunge, however,
shall be governed exclusively by the terms of the Feedstock Agreement and such
purchases shall not be subject to the terms of this Agreement.

 

 

2.                                       Paragraph 11 of
the Agreement shall be deleted in its entirety and replaced with the following
language:

 

11.                                 Title

 

Except as otherwise provided
herein, title to the Feedstocks delivered by REG Marketing pursuant to this Agreement and title to the
contractual amount of corresponding Biodiesel and
Co-products produced from such Feedstocks shall at
all times be and remain with REG Marketing.  Any Feedstocks
delivered by REG Marketing pursuant to the terms and
conditions of the Feedstock Agreement, however, shall at all times be and
remain with Bunge until such time as title to such Feedstocks
passes to REG Marketing pursuant to the terms of the
Feedstock Agreement.

 

3.                                       Section 17
of the Agreement shall be amended to include the following language:

 

“Notwithstanding anything to
the contrary set forth herein, Blackhawk Biofuels and
REG Marketing acknowledge and agree that pursuant to
the terms of the Feedstock Agreement, Bunge shall have title in the Feedstocks purchased by Bunge pursuant to the terms of the
Feedstock Agreement, and Bunge shall have the right to file precautionary
financing statements and amendments and/or continuations thereto pursuant to
the Uniform Commercial Code to further evidence and memorialize its absolute
ownership interest in the Feedstocks.”

 

4.                                       Section 18
of the Agreement shall be deleted in its entirety and replaced with the
following language:

 

REG Marketing, on
behalf of Blackhawk Biofuels, shall be allowed to add
additional Feedstocks owned by REG
Marketing as needed to meet the quality and yield requirements hereunder, so
long as such additional Feedstocks have cold flow
characteristics that are capable of meeting the cold flow specifications set
out on the applicable Order or Nomination, and the Biodiesel
to be produced shall in any event meet the specifications required hereunder,
as modified by the Order or Nomination and Acceptance applicable.  In such event, REG
Marketing shall off-set any costs for such additional Feedstocks
against the toll fees to be paid by REG Marketing
pursuant to Section 4 hereof.  Pursuant to the
terms of the Feedstock Agreement, Blackhawk Biofuels
shall allow Bunge to store the Feedstocks at the
Facility; provided, however, such Feedstocks shall be
segregated from any Feedstocks owned by REG Marketing pursuant to the terms of this Agreement.

 

 

5.                                       Except as may
be otherwise expressly set forth herein, each and every term, condition and
provision of the Agreement shall remain in full force and effect, and are
hereby ratified, confirmed and approved by the parties hereto.

 

6.                                       This Amendment
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns.

 

7.                                       This Agreement
may be executed in one or more counterparts, each of which shall be deemed an
original, but all of which together will constitute one and the same
instrument, and may be executed and delivered by facsimile signature or similar
means, which shall be considered an original.

 

8.                                       Any capitalized
term not specifically defined in this Amendment shall have the meaning set
forth in the Agreement.

 

IN WITNESS WHEREOF,
Blackhawk Biofuels and REG
Marketing have executed this Amendment as of the date and year first set forth
above.

 

BLACKHAWK BIOFUELS,
LLC, a Delaware limited liability company

 

 

	
  By:

  	
  /s/ Ronald L. Mapes

  	
   

  
	
  Name:

  	
  Ronald L. Mapes

  	
   

  
	
  Title:

  	
  Chair

  	
   

  

 

 

REG MARKETING &
LOGISTICS GROUP, LLC, an Iowa limited liability company

 

 

	
  By:

  	
  /s/ Natalie Lischer

  	
   

  
	
  Name:

  	
  Natalie Lischer

  	
   

  
	
  Title:

  	
  Secretary/TreasurerExhibit 10.1

 

 

PONIARD PHARMACEUTICALS, INC.

 

INDEMNIFICATION AGREEMENT

 

This Indemnification Agreement (this “Agreement”), dated as of
July 7, 2009, is entered into by and between Poniard
Pharmaceuticals, Inc., a Washington corporation (the “Company”), and Gary A.
Lyons (“lndemnitee”).

 

RECITALS

 

A.            The Company and lndemnitee recognize
the litigation risks inherent in service as a director and/or officer of a
publicly traded company, including the substantial costs involved in defending
such matters.

 

B.            The Company’s
articles of incorporation (the “Articles”) and bylaws (the
“Bylaws”) contain certain
provisions, approved by the Company’s shareholders, for indemnification of the
Company’s directors and/or officers to the full extent permitted by the Washington
Business Corporation Act (the “Statute”).

 

C.            The Articles, the Bylaws and the
Statute specifically provide that they are not exclusive, and contemplate that
contracts may be entered into between the Company and its directors and/or
officers with respect to indemnification.

 

D.            The lndemnitee has indicated a desire to supplement the
indemnification provisions in the Articles and Bylaws to provide additional
protections against the risks associated with his service to the Company and
further clarify his rights with respect to indemnification in certain
circumstances.

 

E.             To induce Indemnitee to accept the
position or continue service as a director and/or officer of the Company, the Company and the Indemnitee now agree
that they should enter into this Indemnification Agreement.

 

AGREEMENT

 

1.                                      Indemnification
of Indemnitee

 

1.1          Scope

 

Subject
to Section 4.1 and all other terms and conditions of this Agreement, the
Company agrees to indemnify and hold harmless Indemnitee, to the full extent
permitted by law, whether or not specifically authorized by this Agreement, the
Articles, the Bylaws, the Statute or otherwise, for any Indemnifiable Losses (as defined below) which
the Indemnitee is or becomes legally obligated to pay in connection with any
Proceeding. 
In the event of any change, after the date of this Agreement, in any
applicable law, statute or rule regarding the right of a Washington
corporation to indemnify a

 

 

director
and/or officer, such changes, to the extent that they would expand Indemnitee’s
indemnification rights, shall be within the purview of Indemnitee’s rights and
the Company’s obligations under this Agreement, and, to the extent that they
would narrow Indemnitee’s indemnification rights, shall not affect or limit the
scope of this Agreement; provided, however, that any change that is required by
applicable laws, statutes or rules to be applied to this Agreement shall
be so applied regardless of whether the effect of such change is to narrow
Indemnitee’s rights.

 

1.2          Nonexclusivity

 

The
indemnification provided by this Agreement is not exclusive of any rights to
which Indemnitee may be entitled under the Articles, the Bylaws, any other
agreement, any vote of shareholders or disinterested directors, the Statute, or
otherwise, whether as to action in Indemnitee’s official capacity or otherwise.

 

1.3          Definition of
Indemnifiable Losses

 

For purposes of this Agreement, the term “Indemnifiable
Losses” shall include (without limitation) any and all
damages (compensatory, exemplary, punitive or otherwise), judgments, fines,
penalties, settlements, costs, attorneys’ fees and disbursements, costs of
attachment or similar bonds, investigations, expenses of establishing a right
to indemnification under this Agreement, and any other losses, claims, liabilities
or other expenses incurred in connection with a Proceeding, subject to the
limitations set forth in Section 4.1 below.

 

1.4          Definition of
Proceeding

 

For purposes of this Agreement, the term “Proceeding” shall include
(without limitation) any threatened, pending or completed claim, action, suit
or proceeding, whether brought by or in the right of the Company or otherwise,
and whether of a civil, criminal, administrative or investigative nature, in
which the Indemnitee may be or may have been involved as a party or otherwise
(including without limitation as a witness), (a) by reason of the fact
that Indemnitee is or was, or has agreed to become, a director and/or officer
of the Company, (b) by reason of any actual or alleged error or misstatement
or misleading statement made or suffered by the Indemnitee, (c) by reason
of any action taken by Indemnitee or of any inaction on Indemnitee’s part while
acting as such director and/or officer, or (d) by reason of the fact that
Indemnitee was serving at the request of the Company as a director, trustee,
officer, employee or agent of the Company or another corporation, partnership,
joint venture, trust or other enterprise (including without limitation employee
benefit plans and administrative committees thereof) (which request will be
conclusively presumed in the case of any of the foregoing that are “affiliates”
of the Company as defined in Rule 12b-2 under the Securities Exchange Act
of 1934, as amended); provided, however, that, except with respect to an action
to enforce the provisions of this Agreement, the term “Proceeding” shall not
include any action, suit, claim or proceeding instituted by or at the direction
of Indemnitee unless such action, suit, claim or proceeding is or was
authorized or ratified by the Company’s Board of Directors.

 

1.5          Determination of
Entitlement

 

In
the event that a determination of Indemnitee’s entitlement to indemnification
is required pursuant to Section 23B.08.550 of the Statute or its successor
or pursuant to other applicable law, the party specified therein as the
determining party shall make such determination; provided, however,
(a) that Indemnitee shall initially be presumed in all cases to be
entitled to indemnification, (b) that Indemnitee may establish a conclusive
presumption of any fact necessary to such a determination by 

 

2

 

delivering
to the Company a declaration made under penalty of perjury that such fact is
true and (c) that, unless the Company shall deliver to Indemnitee written
notice of a determination that Indemnitee is not entitled to indemnification
within twenty (20) days of the Company’s receipt of Indemnitee’s initial
written request for indemnification, such determination shall conclusively be
deemed to have been made in favor of the Company’s provision of indemnification
and Company agrees not to assert otherwise.

 

1.6          Survival

 

The
indemnification provided under this Agreement shall apply to any and all
Proceedings, notwithstanding that Indemnitee has ceased to serve in a capacity
referred to in Section 1.4(a)-(d).

 

2.                                      Expense
Advances

 

2.1          Generally

 

The right to indemnification for Indemnifiable Losses conferred by
Section 1 shall include the right to have the Company pay Indemnitee’s
expenses in any Proceeding as such expenses are incurred and in advance of such
Proceeding’s final disposition (such right is referred to hereinafter as an “Expense
Advance”), subject to Sections 2.2, 4 and 5 and all other
terms and conditions of this Agreement.

 

2.2          Conditions to Expense
Advance

 

The
Company’s obligation to provide an Expense Advance is subject to
(a) Indemnitee or his representative having first executed and delivered
to the Company an undertaking, which need not be secured and shall be accepted
without reference to Indemnitee’s financial ability to make repayment, by or on
behalf of Indemnitee to repay all Expense Advances if and to the extent that it
shall ultimately be determined by a final, unappealable decision rendered by a
court having jurisdiction over the parties and the subject matter of the
dispute that Indemnitee is not entitled to be indemnified under this Agreement
or otherwise; and (b) Indemnitee furnishing, upon request by the Company
and if required under applicable law, a written affirmation of Indemnitee’s
good faith belief that Indemnitee has met any applicable standards of conduct.

 

2.3          Subrogation

 

In the event of payment
under this Agreement, the Company shall be subrogated to the extent of such
payment to all of the rights of recovery of the Indemnitee, who shall execute
all papers required and shall do everything that may be necessary to secure
such rights, including the execution of such documents necessary to enable the
Company effectively to bring suit to enforce such rights.

 

3.                                      Procedures
for Enforcement

 

3.1          Enforcement

 

In the event that a claim for indemnification hereunder is made and is
not paid in full within sixty days after written notice of such claim has been
received by the Company, except in the case of a claim for advance expenses, in
which case the applicable period shall be twenty days, Indemnitee may, but need
not, at any time bring suit against the Company to recover the unpaid amount of
the 

 

3

 

claim (an “Enforcement
Action”), subject to all other terms, conditions and
limitations of this Agreement.

 

3.2          Presumptions in
Enforcement Action

 

In
any Enforcement Action the following presumptions (and limitation on
presumptions) shall apply:

 

(a)           The Company shall conclusively be presumed to have entered
into this Agreement and assumed the obligations imposed on it to induce
Indemnitee to accept the position of, or to continue as a director and/or
officer of the Company; and

 

(b)          Neither (i) the failure of the Company (including its
Board of Directors, independent or special legal counsel or the Company’s
shareholders) to have made a determination prior to the commencement of the
Enforcement Action that indemnification of Indemnitee is proper in the
circumstances nor (ii) an actual determination by the Company, its Board
of Directors, independent or special legal counsel or the shareholders that
Indemnitee is not entitled to indemnification shall be a defense to the
Enforcement Action or create a presumption that Indemnitee is not entitled to
indemnification.

 

3.3          Attorneys’ Fees and Expenses for
Enforcement Action

 

The
Company shall indemnify and hold harmless Indemnitee against all of
Indemnitee’s reasonable fees and expenses in bringing and pursuing any
Enforcement Action (including reasonable attorneys’ fees at any stage,
including on appeal); provided, however, that the Company shall not be required
to provide such indemnity (a) if a court of competent jurisdiction
determines that all the material assertions made by Indemnitee in such
Enforcement Action were not made in good faith or were frivolous or (b) to
the extent limited under Section 4.1 below.

 

4.                                      Limitations

 

4.1          Limitation on
Indemnity

 

Notwithstanding
any other provision of this Agreement, the Company shall not be obligated to
provide indemnification pursuant to this Agreement:

 

(a)           on account of any suit
in which a final, unappealable decision is rendered by a court having
jurisdiction over the parties and the subject matter of the dispute for an
accounting of profits made from the purchase or sale by Indemnitee of
securities of the Company in violation of the provisions of
Section 16(b) of the Securities Exchange Act of 1934 and amendments
thereto;

 

(b)          for Indemnifiable
Losses that have been paid directly to Indemnitee by an insurance carrier under
a policy of insurance maintained by the Company;

 

(c)           on account of
Indemnitee’s conduct which is finally adjudged with no further right of appeal
to have been intentional misconduct, a knowing violation of law, a violation of
RCW 23B.08.310 or any successor provision of the Statute, or a transaction
from which Indemnitee derived personal benefit in money, property or services
to which Indemnitee was not legally entitled;

 

4

 

(d)          to the extent that the Indemnitee is
indemnified and actually paid otherwise than pursuant to this Agreement;

 

(e)           if a final,
unappealable decision is rendered by a court having jurisdiction over the
parties and the subject matter of the dispute finding that paying such
indemnification is prohibited by applicable law;

 

(f)           to the extent that
attorneys’ fees, costs and disbursements, or similar expenses, that otherwise
would constitute Indemnifiable Losses hereunder are determined to be
unreasonable by a final, unappealable decision rendered by a court having
jurisdiction over the parties and the subject matter of the dispute, provided
that the burden of proof that any Indemnifiable Losses are unreasonable shall
be on the Company; or

 

(g)          to the extent such
Indemnifiable Losses have been incurred by Indemnitee in violation of the terms
of Section 5 below.

 

4.2          Partial Indemnification

 

If
Indemnitee is entitled under any provision of this Agreement to indemnification
by the Company for some or a portion of any Indemnifiable Losses in connection
with a Proceeding, but not, however, for the total amount thereof, the Company
shall nevertheless indemnify Indemnitee for the portion of such Indemnifiable
Losses to which Indemnitee is entitled.

 

4.3          Mutual Acknowledgment

 

The
Company and Indemnitee acknowledge that, in certain instances, federal law or
public policy may override applicable state law and prohibit the Company from
indemnifying Indemnitee under this Agreement or otherwise.  For example, the Company and Indemnitee
acknowledge that the Securities and Exchange Commission has taken the position
that indemnification is not permissible for liabilities arising under certain
federal securities laws, and federal legislation prohibits indemnification for
certain ERISA violations.  Furthermore,
Indemnitee understands and acknowledges that the Company has undertaken or may
be required in the future to undertake with the Securities and Exchange
Commission to submit the question of indemnification to a court in certain
circumstances for a determination of the Company’s right under public policy to
indemnify Indemnitee.

 

5.                                      Notification
and Defense of Claim

 

5.1          Notification

 

Promptly
after receipt by Indemnitee of notice of the commencement of any Proceeding,
Indemnitee will, if a claim is to be made against the Company under this
Agreement, notify an officer of the Company in writing of the nature and status
of the Proceeding; provided, however, that the omission so to notify an officer
of the Company will not relieve the Company from any obligation which it may
have to Indemnitee under this Agreement or otherwise unless and only to the
extent that such omission can be shown to have prejudiced the Company.

 

If,
at the time of the receipt of a notice of a claim pursuant to this
Section 5.1, the Company has director and officer liability insurance in
effect, the Company shall give prompt notice of the commencement of such
Proceeding to the insurers in accordance with the procedures set forth in the 

 

5

 

respective
policies (unless the Indemnitee’s involvement in such Proceeding is solely as a
witness or there is otherwise no basis for asserting coverage).  The Company shall take all necessary action
to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable
as a result of such Proceeding in accordance with the terms of such policies.

 

5.2          Defense of Claim

 

With
respect to any such Proceeding as to which Indemnitee notifies the Company of
the commencement thereof or otherwise seeks indemnification hereunder:

 

(a)           The Company may
participate at its own expense in such Proceeding;

 

(b)          The Company, jointly
with any other indemnifying party similarly notified, may assume the defense of
the Proceeding with counsel reasonably satisfactory to Indemnitee.  After notice from the Company to Indemnitee
of its election to assume the defense, the Company shall not be liable to
Indemnitee under this Agreement or otherwise for any legal or other expenses of
counsel (other than reasonable costs of investigation) subsequently incurred by
Indemnitee in connection with the defense of such Proceeding, unless
(i) the employment of counsel by Indemnitee has been authorized in advance
by the Company in writing, (ii) Indemnitee shall have reasonably concluded
that there may be a conflict of interest between the Company and Indemnitee in
the conduct of the defense of such action and notified the Company in writing
to that effect in advance of the expense, (iii) the Company shall not in
fact have employed counsel to assume the defense of such action, or
(iv) the Company is not financially or legally able to perform its
indemnification obligations, in each of which cases the fees and expenses of
counsel shall be at the expense of the Company. 
The Company shall not be entitled to assume the defense of any action,
suit or proceeding brought by or on behalf of the Company or as to which
Indemnitee shall have made the conclusion provided for in (ii) or
(iv) above;

 

(c)           The Company shall not
settle any action or claim in any manner which would impose any penalty or
limitation on Indemnitee that would not be an Indemnifiable Loss hereunder for
which indemnification would be provided by the Company without Indemnitee’s
written consent.

 

6.                                      Miscellaneous

 

6.1          Entire Agreement

 

This
Agreement is the entire agreement of the parties regarding its subject matter
and supersedes all prior written or oral communications or agreements.

 

6.2          Severability

 

Nothing
in this Agreement is intended to require or shall be construed as requiring the
Company to do or fail to do any act in violation of applicable law.  The Company’s inability, pursuant to court
order, to perform its obligations under this Agreement shall not constitute a
breach of this Agreement.  The provisions
of this Agreement shall be severable.  If
this Agreement or any portion shall be invalidated on any ground by any court
of competent jurisdiction, then the Company shall nevertheless indemnify
Indemnitee to the full extent permitted by any portion of this Agreement not
invalidated, and the balance of this Agreement shall be enforceable in
accordance with its terms.

 

6

 

6.3          Notices

 

Notices
given pursuant to this Agreement shall be deemed duly given on the date of
personal delivery, on the date sent by fax or three days after mailing if
mailed by certified or registered mail, return receipt requested, postage
prepaid, to the party at its address below or such other address of which the
addressee may subsequently notify the other parties in writing.

 

6.4          Governing Law

 

This
Agreement and the rights and obligations of the parties shall be governed by
and construed in accordance with the laws of the state of Washington, without
giving effect to principles of conflicts of law.

 

6.5          Counterparts

 

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

 

6.6          Amendments; Waivers

 

Neither
this Agreement nor any provision may be amended except by written agreement
signed by the parties.  No waiver of any
breach or default shall be considered valid unless in writing, and no such
waiver shall be deemed a waiver of any subsequent breach or default.

 

6.7          Successors and Assigns

 

This
Agreement shall be binding upon the Company and its successors (including,
without limitation, any direct or indirect successors by purchase, merger,
consolidation or otherwise to all or substantially all of the business and
assets of the Company) and assigns, and inure to the benefit of Indemnitee and
Indemnitee’s heirs, legal representatives and assigns.

 

(Signature page follows)

 

7

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement on and as of
the date first above written.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  PONIARD
  PHARMACEUTICALS, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Gerald
  McMahon

  
	
   

  	
  Name:
  Gerald McMahon

  
	
   

  	
  Title:
  Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
  Address:
  

  	
  7000
  Shoreline Court

  South San Francisco, CA 94080

  
	
   

  	
   

  
	
   

  	
  INDEMNITEE:

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Gary
  A. Lyons

  
	
   

  	
  Name:
  Gary A. Lyons

  
	
   

  	
   

  
	
   

  	
  Address:  [Address Inserted]

  
				

 

8

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