Document:

Form of Indemnification Agreement

 Exhibit 10.1 
 IMPERIUM RENEWABLES, INC. 
 INDEMNIFICATION AGREEMENT 
 This Indemnification Agreement (the “Agreement”) is entered into on
            , 200    , between Imperium Renewables, Inc., a Washington corporation (the “Company”), and
            , a director, officer, or both, of the Company and/or one or more of its subsidiaries (“Indemnitee”), for good and valuable consideration as set forth
below. 
 RECITALS 
 A.
The Company recognizes the importance, and increasing difficulty, of obtaining adequate liability insurance coverage for its directors, officers, employees, agents and fiduciaries. 
 B. The Company further recognizes that, at the same time as the availability and coverage of such insurance has become more limited, litigation against
corporate directors, officers, employees, agents and fiduciaries has continued to increase. 
 C. Article 5 of the Company’s Amended and
Restated Articles of Incorporation (the “Articles”) provides for indemnification of the Company’s directors and officers to the full extent authorized by the Washington Business Corporation Act (the “Statute”),
and that such provisions are not exclusive and may be supplemented by agreements between the Company and its officers and directors. 
 D.
The Company desires to retain and attract the services of highly qualified individuals, such as Indemnitee, to serve the Company and, in that connection, also desires to provide contractually for indemnification of, and advancement of expenses to,
Indemnitee to the full extent authorized by law. 
 AGREEMENT 
  

	 	1.	Indemnification. 

 a. Scope. The Company
agrees to hold harmless and indemnify Indemnitee against any Damages (as defined in Section 1(c)) incurred by Indemnitee with respect to any Proceeding (as defined in Section 1(d)) to which Indemnitee is or is threatened to be made a party
or in which Indemnitee is otherwise involved (including, but not limited to, as a witness), to the full extent authorized by law, without regard to the limitations in RCW 23B.08.510 through 23B.08.550, and 23B.08.560(2), except that Indemnitee shall
have no right to indemnification on account of: (i) acts or omissions of Indemnitee that have been finally adjudged (by a court having proper jurisdiction, and after all rights of appeal have been exhausted or lapsed, herein “Finally
Adjudged”) to be intentional misconduct or a knowing violation of law; (ii) conduct of Indemnitee that has been Finally Adjudged to be in violation of RCW 23B.08.310; (iii) any transaction with respect to which it has been Finally
Adjudged that 

 
Indemnitee personally received a benefit in money, property or services to which Indemnitee was not legally entitled; or (iv) any suit in which it is
Finally Adjudged that Indemnitee is liable 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. Changes to Indemnification Right. Indemnitee’s right to be indemnified to the full extent authorized by
law shall include the benefits of any change, after the date of this Agreement, in the Statute or other applicable law regarding the right of a Washington corporation to indemnify directors or officers, to the extent that it would expand
Indemnitee’s rights hereunder. Any such change that would narrow or interfere with Indemnitee’s rights hereunder shall not apply to, limit, or affect the interpretation of, this Agreement, unless and then only to the extent that it has
been Finally Adjudged that its application hereto does not constitute an unconstitutional impairment of Indemnitee’s contract rights or otherwise violate applicable law. In the event the Company grants indemnification rights to any other
officer or director that are more favorable to the rights granted to Indemnitee hereunder, the Indemnitee will automatically, and without any further action, be entitled to substantially the same benefits set forth in such agreement with such other
officer or director. 
 c. Indemnified Amounts. If Indemnitee is or is threatened to be made a party to, or is otherwise involved
(including, but not limited to, as a witness) in, any Proceeding, the Company shall hold harmless and indemnify Indemnitee from and against any and all losses, claims, damages, costs, expenses and liabilities incurred in connection with
investigating, defending, being a witness in, participating in or otherwise being involved in (including on appeal), or preparing to defend, be a witness in, participate in or otherwise be involved in (including on appeal), such Proceeding,
including but not limited to attorneys’ fees, judgments, fines, penalties, ERISA excise taxes, amounts paid in settlement, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any
payments pursuant to this Agreement, and other expenses (collectively, “Damages”), including all interest, assessments or charges paid or payable in connection with or in respect of such Damages. 
 d. Definition of Proceeding. For purposes of this Agreement, “Proceeding” shall mean any actual, pending, threatened or completed
action, suit, claim, investigation, hearing or proceeding (whether civil, criminal, administrative or investigative, and whether formal or informal) in which Indemnitee is, has been, or becomes involved, or regarding which Indemnitee is threatened
to be made a named defendant or respondent, based in whole or in part on or arising out of the fact that Indemnitee is or was a director, officer, member of a board committee, employee or agent of the Company and/or any of its subsidiaries or that,
being or having been such a director, officer, member of a board committee, employee or agent, Indemnitee is or was serving at the request of the Company as a director, officer, partner, employee, trustee or agent of another corporation or of a
foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan or other enterprise (each, a “Related Company”), whether the basis of such action, suit, claim, investigation, hearing or proceeding is
alleged action or omission by Indemnitee in an official capacity as a director, officer, committee member, partner, employee, trustee or agent or in any other capacity while serving as a director, officer, committee member, partner, employee,
trustee or agent. “Proceeding” shall not, however, include any action, suit, claim, investigation, hearing or proceeding instituted by or at the direction of Indemnitee unless pursuant to an Enforcement Action (as defined in
Section 3(a)) or its institution has been authorized by the Company’s Board of Directors (the “Board”). 
  

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	 	e.	Notifications. 

 i. Promptly after receipt by
Indemnitee of notice of the commencement (including a threatened assertion or commencement) of any Proceeding, Indemnitee will, if it is reasonably foreseeable that a claim in respect thereof will be made against the Company under this Agreement,
notify the Chair of the Board’s Audit Committee of the commencement thereof (which notice shall be in the form of Exhibit A hereto) (the “Indemnification Notice”). A failure to notify the Company in accordance with this
subsection (e)(i) will not, however, relieve the Company from any liability to Indemnitee under this Agreement unless (and then only to the extent that) such failure is Finally Adjudged to have materially prejudiced the Company’s ability to
defend the Proceeding. 
 ii. At the same time, or from time to time thereafter, Indemnitee may further notify the Chair of the Board’s
Audit Committee, by delivery of a supplemental Indemnification Notice (or by checking the second box and providing the corresponding information on the initial Indemnification Notice), of any Proceeding for which indemnification is being sought
under this Agreement. 
  

	 	f.	Determination of Entitlement. 

 i. To the extent
Indemnitee has been wholly successful, on the merits or otherwise, in the defense of any Proceeding, the Company shall indemnify Indemnitee against all expenses incurred by Indemnitee in connection with the Proceeding, within ten (10) days
after receipt of an Indemnification Notice delivered pursuant to subsection (e)(ii). 
 ii. In the event that subsection (f)(i) above is
inapplicable, or does not apply to the entire Proceeding, the Company shall indemnify Indemnitee within thirty (30) days after receipt of an Indemnification Notice delivered pursuant to subsection (e)(ii) unless during such thirty (30) day
period the Audit Committee of the Board delivers to Indemnitee a written notice contesting Indemnitee’s indemnification claim (the “Contest Notice”), which Contest Notice shall state with particularity the reasons for the
decision to challenge Indemnitee’s indemnification claim and the evidence the Company would present in any forum in which Indemnitee might seek review of such decision. The Company’s failure to deliver a Contest Notice within thirty
(30) days after the Company’s receipt of an Indemnification Notice pursuant to subsection (e)(ii) shall obligate the Company unconditionally to indemnify Indemnitee to the extent requested in the Indemnification Notice. 
 iii. At any time following receipt of a Contest Notice, Indemnitee shall be entitled to select a forum for the review of, and in which the Company will
defend, the Contest Notice and the Company’s decision to challenge Indemnitee’s indemnification claim. Such selection shall be made from among the following alternatives, by delivering a written notice to the Chair of the Board’s
Audit Committee indicating Indemnitee’s selection of forum: 
  

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 (a) A quorum of the Board consisting of directors who are not parties to the Proceeding for which
indemnification is being sought; 
 (b) Special Legal Counsel (as defined in subsection (f)(vii) below); or 
 (c) A panel of three independent arbitrators, one of whom is selected by the Company, another of whom is selected by Indemnitee and the last of whom is
selected by the first two arbitrators so selected,  
 provided, that nothing in this Section 1(f) shall prevent Indemnitee at any time
from bringing suit against the Company to recover the amount of the indemnification claim (whether or not Indemnitee has otherwise exhausted its contractual remedies hereunder). In addition, any determination by a forum selected by Indemnitee that
Indemnitee is not entitled to indemnification, or any failure to make the payments requested in the Indemnification Notice, shall be subject to judicial review by any court of competent jurisdiction, as described in Section 3. 
 iv. In any forum in which the Company defends its Contest Notice and its decision to challenge Indemnitee’s indemnification claim under this
Section 1(f), the presumptions, burdens and standard of review set forth in Section 3(c) shall apply and are incorporated into this Section 1(f) by reference, except as otherwise expressly provided in Section 3(c). 
 v. As soon as practicable, and in no event later than fifteen (15) days after the forum has been selected pursuant to subsection (f)(iii) above,
the Company shall, at its own expense, submit the defense of its Contest Notice and the question of Indemnitee’s right to indemnification to the selected forum. 
 vi. The forum selected shall render its decision concerning the validity of the Contest Notice and the Company’s decision to deny Indemnitee’s indemnification claim within thirty (30) days after the
forum has been selected in accordance with subsection (f)(iii). 
 vii. For the purposes of this Agreement, “Special Legal
Counsel” shall mean an attorney or firm of attorneys, selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld), who must not have performed other services for the Company or Indemnitee within
the last three years. 
  

	 	2.	Expense Advances. 

 a. Generally. The right
to indemnification conferred by Section 1 shall include the right to have the Company pay Indemnitee’s attorneys’ fees and other expenses, including but not limited to out of pocket costs and disbursements, incurred in connection with
any Proceeding, or in connection with bringing, defending and/or pursuing an Enforcement Action (as defined in Section 3(a)), as such expenses are incurred and in advance of the final disposition of such Proceeding or Enforcement Action (such
entitlement is referred to hereinafter as an “Expense Advance”). 
  

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 b. Undertaking. The Company’s obligation to provide an Expense Advance is subject only to the
following condition: if the Proceeding arose in connection with Indemnitee’s service as a director and/or officer of the Company or member of a committee of the Board (and not in any other capacity in which Indemnitee rendered service,
including but not limited to service to any Related Company), then Indemnitee or his or her representative must have executed and delivered to the Chair of the Board’s Audit Committee an undertaking (in the form of Exhibit B hereto) (the
“Statement of Undertaking”) to repay all Expense Advances if and to the extent that it may be Finally Adjudged that Indemnitee is not entitled to be indemnified for such Expense Advance under one or more of clauses (i) through
(iv) of the first sentence of Section 1(a). The Statement of Undertaking need not be secured and shall be accepted by the Company without reference to Indemnitee’s financial ability to make repayment. No interest shall be charged on
any obligation to reimburse the Company for any Expense Advance. 
 c. Service as Witness. Notwithstanding any other provision of this
Agreement, the Company’s obligation to indemnify, or provide Expense Advances under Section 2, to Indemnitee in connection with Indemnitee’s appearance as a witness in a Proceeding at a time when Indemnitee has not been made a named
defendant or respondent to the Proceeding shall be absolute and unconditional, and not subject to any of the limitations on, or conditions to, Indemnitee’s right to indemnification or to receive an Expense Advance otherwise contained in this
Agreement. 
  

	 	3.	Procedures for Enforcement. 

 a. Enforcement.
If a claim for indemnification made by Indemnitee hereunder is not paid in full (whether or not the provisions of Section 1(f) have been complied with, or completed), or a claim for an Expense Advance made by Indemnitee hereunder is not paid in
full within twenty (20) days from delivery of a Statement of Undertaking to the Chair of the Board’s Audit Committee, Indemnitee may, but need not, at any time thereafter bring suit against the Company to recover the unpaid amount of the
claim (an “Enforcement Action”). 
 b. Required Indemnification. The court hearing the Enforcement Action shall order
the Company to provide indemnification or to advance expenses to Indemnitee to the full extent sought in the Enforcement Action if it determines that (i) the Enforcement Action is brought by Indemnitee to enforce the Company’s obligation
under Section 1(f)(ii) unconditionally to indemnify Indemnitee to the extent requested in the Indemnification Notice where the Company has failed timely to deliver a Contest Notice, or (ii) the Company failed to prove by clear and
convincing evidence that Indemnitee is not entitled to indemnification based on one or more of clauses (i) through (iv) of the first sentence of Section 1(a). 
 c. Presumptions, Burdens and Standard of Review in Enforcement Action or Company Determination. In any Enforcement Action (and, except as
otherwise expressly provided in this Section 3(c), in any review of a Contest Notice by a forum described in Section 1(f)) the following presumptions (and limitations on presumptions), burdens and standard of review shall apply:

 i. The Company shall conclusively be presumed to have entered into this Agreement and assumed the obligations imposed hereunder in order
to induce Indemnitee to serve or to continue to serve as an director and/or officer of the Company and/or one or more of its subsidiaries; 
  

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 ii. This Agreement shall conclusively be presumed to be valid and Article 5 of the Articles shall
conclusively be presumed to be effective to waive all of the limitations in RCW 23B.08.510 through RCW 23B.08.550, and RCW 23B.08.560(2); 
 iii. Submission of an Indemnification Notice in accordance with Section 1(e)(ii) or a Statement of Undertaking to the Company shall create a presumption that Indemnitee is entitled to indemnification or an Expense Advance hereunder,
and thereafter the Company shall have the burden of proving by clear and convincing evidence (sufficient to rebut the foregoing presumption) that Indemnitee is not entitled to indemnification based on one or more of clauses (i) through
(iv) of the first sentence of Section 1(a); 
 iv. Indemnitee may establish a conclusive presumption of any objective fact related
to an event or occurrence by delivering to the Company a declaration made under penalty of perjury that such fact is true, provided, that no such presumption may be established with respect to the ultimate conclusions set forth in any of
clauses (i) through (iv) of the first sentence of Section 1(a); 
 v. If Indemnitee is or was serving as a director, officer,
employee, trustee or agent of a corporation of which a majority of the shares entitled to vote in the election of its directors is held by the Company or in an executive or management capacity in a partnership, joint venture, trust or other
enterprise of which the Company or a wholly-owned subsidiary of the Company is a general partner or has a majority ownership, then such corporation, partnership, joint venture, trust or enterprise shall conclusively be deemed a Related Company and
Indemnitee shall conclusively be deemed to be serving such Related Company at the request of the Company; 
 vi. Neither (a) the
failure of the Company (including but not limited to the Board, the Company’s officers, independent counsel, Special Legal Counsel, any arbitrator or the Company’s shareholders) to make a determination prior to the commencement of the
Enforcement Action whether indemnification, or payment of an Expense Advance, of Indemnitee is proper in the circumstances, nor (b) an actual determination by the Company, the Board, the Company’s officers, independent counsel, Special
Legal Counsel, any arbitrator or the Company’s shareholders that Indemnitee is not entitled to indemnification or payment of an Expense Advance shall be a defense to the Enforcement Action, create a presumption that Indemnitee is not entitled
to indemnification hereunder or be considered by a court in an Enforcement Action, which shall conduct a de novo review of the relevant issues; and 
 vii. If the court hearing the Enforcement Action is unable to make either of the determinations specified in Sections 3(b)(i) or 3(b)(ii), the court hearing the Enforcement Action shall nonetheless order the Company
to provide indemnification or to advance expenses to Indemnitee to the full extent sought in the Enforcement Action if it determines that Indemnitee is fairly and reasonably entitled to such indemnification or Expense Advance in view of all of the
relevant circumstances, and without regard to the limitations set forth in clauses (i) through (iii) of the first sentence of Section 1(a). In determining whether 

  

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Indemnitee is fairly and reasonably entitled to such indemnification or expense advance, the court shall weigh (a) the relative benefits received by the
Company and/or any of its subsidiaries or any Related Company, or any of their affiliates other than Indemnitee, on the one hand, and Indemnitee on the other from the transaction from which such Proceeding arose or to which such Proceeding relates,
and (b) the relative fault of the Company and/or any of its subsidiaries or any Related Company, or any of their affiliates other than Indemnitee, on the one hand, and of Indemnitee on the other in connection with the transaction that resulted
in such Damages, as well as any other relevant equitable considerations. The relative fault of the Company and/or any of its subsidiaries or any Related Company, or any of their affiliates other than Indemnitee, on the one hand, and of Indemnitee on
the other shall be determined by reference to, among other things, the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent the circumstances resulting in such Damages. If either (Y) the relative
benefits received by the Company and/or any of its subsidiaries or any Related Company, or any of their affiliates other than Indemnitee, exceed the relative benefits received by Indemnitee, or (Z) the relative fault of the Company and/or any
of its subsidiaries or any Related Company, or any of their affiliates other than Indemnitee, exceeds the relative fault of Indemnitee, then Indemnitee shall be entitled to the full amount of indemnification and/or Expense Advance sought in the
Enforcement Proceeding. 
 d. Attorneys’ Fees and Expenses for Enforcement Action. In any Enforcement Action, the Company shall
hold harmless and indemnify Indemnitee against all of Indemnitee’s attorneys’ fees and expenses in bringing, defending and/or pursuing the Enforcement Action (including but not limited to attorneys’ fees at any stage, and on appeal);
provided, however, that the Company shall not be required to provide such indemnification for such fees and expenses if it is Finally Adjudged that Indemnitee knew prior to commencement of the Enforcement Action that Indemnitee was not
entitled to indemnification based on any of clauses (i) through (iv) of the first sentence of Section 1(a). 
  

	 	4.	Defense of Claim. 

 With respect to any Proceeding
as to which Indemnitee has provided notice to the Company pursuant to Section 1(e)(i): 
 a. The Company may participate therein at its
own expense. 
 b. The Company (jointly with any other indemnifying party similarly notified, if any) may assume the defense thereof, with
counsel reasonably satisfactory to Indemnitee. After notice from the Company to Indemnitee of its election to so assume the defense thereof, the Company shall not be liable to Indemnitee under this Agreement for any legal fees or other expenses
(other than reasonable costs of investigation) subsequently incurred by Indemnitee in connection with the defense thereof unless (i) the employment of counsel by Indemnitee or the incurring of such expenses has been authorized by the Company,
(ii) Indemnitee shall have concluded that there is a reasonable possibility that a conflict of interest could arise between the Company and Indemnitee in the conduct of the defense of such Proceeding, which conflict of interest shall be
conclusively presumed to exist upon Indemnitee’s delivery to the Company of a written certification of such conclusion, or (iii) the Company shall not in fact have employed counsel to assume the defense of such Proceeding, in each of which

  

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cases the legal fees and other expenses of Indemnitee shall be at the expense of the Company. The Company shall not be entitled to assume the defense of a
Proceeding brought by or on behalf of the Company or as to which Indemnitee shall have reached the conclusion described in clause (ii) above. 
 c. The Company shall not be liable for any amounts paid in settlement of any Proceeding effected without its written consent. 
 d.
The Company shall not settle any Proceeding in any manner that would impose any penalty or limitation on Indemnitee without Indemnitee’s written consent. 
 e. Neither the Company nor Indemnitee will unreasonably withhold its or his or her consent to any proposed settlement of any Proceeding. 
 f. In addition to all the requirements above, if Company has directors and officers liability insurance, or other insurance, with a panel counsel requirement that may be triggered then or at some future point by
the matter for which indemnity is owed to Indemnitee, then Indemnitee shall use such panel counsel, unless there is an actual conflict of interest with representation by all such panel counsel, or unless and to the extent Company waives such
requirement in writing. 
  

	 	5.	Maintenance of D&O Insurance. 

 a. Subject to
Section 5(c) below, during the period (the “Coverage Period”) beginning on the date of this Agreement and ending at the later of six (6) years following the time Indemnitee is no longer serving as either a director or
officer of the Company and/or one or more subsidiaries or any Related Company, or at the end of such longer period during which Indemnitee believes that a reasonable possibility of exposure to a Proceeding or Damages persists (which extended period
must be consented to by the Company, such consent not to be unreasonably withheld), the Company shall maintain a directors’ and officers’ liability insurance policy in full force and effect or shall have purchased or otherwise provided for
a run-off or tail policy or endorsement to such existing policy (“D&O Insurance”), providing in all respects coverage at least comparable to and in similar amounts, and with similar exclusions, as that obtained by other
similarly situated companies as determined in good faith by any of the parties referenced in Section 1(f)(iii)(a) through (c). 
 b.
Under all policies of D&O Insurance, Indemnitee shall during the Coverage Period be named as an insured in such a manner as to provide Indemnitee the same rights and benefits, subject to the same limitations, as are accorded to the
Company’s directors or officers most favorably insured by such policy, and each insurer under a policy of D&O Insurance shall be required to provide Indemnitee written notice at least thirty (30) days prior to the effective date of
termination of the policy. 
 c. The Company shall have no obligation to obtain or maintain D&O Insurance to the extent that such
insurance is not reasonably available, the premium costs for such insurance are disproportionate to the amount of coverage provided, or the coverage provided by such insurance is so limited by exclusions as to provide an insufficient benefit, such
determination to be made by any of the parties referenced in Section 1(f)(iii)(a) through (c). 
  

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 d. It is the intention of the parties in entering into this Agreement that the insurers under the D&O
Insurance, if any, shall be obligated ultimately to pay any claims by Indemnitee which are covered by D&O Insurance, and nothing herein shall be deemed to diminish or otherwise restrict the Company’s or Indemnitee’s right to proceed or
collect against any insurers under D&O Insurance or to give such insurers any rights against the Company or Indemnitee under or with respect to this Agreement, including but not limited to any right to be subrogated to the Company’s or
Indemnitee’s rights hereunder, unless otherwise expressly agreed to by the Company and Indemnitee in writing. The obligation of such insurers to the Company and Indemnitee shall not be deemed reduced or impaired in any respect by virtue of the
provisions of this Agreement. 
 e. No indemnification pursuant to this Agreement shall be provided by the Company for Damages or Expense
Advances that have been paid directly to Indemnitee by an insurance carrier under a policy of D&O Insurance or other insurance maintained by the Company. 
 f. 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 Indemnitee to recover the same amounts from any insurer or other third person
(other than another person with indemnification rights against the Company substantially similar those of Indemnitee under this Agreement). Indemnitee shall execute all documents required and take all acts necessary to secure such rights and enable
the Company effectively to bring suit to enforce such rights. 
  

	 	6.	Partial Indemnification; Mutual Acknowledgment; Contribution. 

 a. Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of any Damages in connection with a Proceeding, but not for
the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such Damages to which Indemnitee is entitled. 
 b. 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 (the “SEC”) 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 that the Company has undertaken or may be required in the future to undertake with the SEC to submit for judicial
determination the issue of the Company’s power to indemnify Indemnitee in certain circumstances; all of the Company’s obligations under this Agreement will be subject to the requirements of any such undertaking required by the SEC to be
made by the Company. 
 c. Contribution. If the indemnification provided under Sections 1, 2 and 6 is unavailable by reason of any of
the circumstances specified in one or more of clauses (i) through (iii) of the first sentence of Section 1(a) then, in respect of any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such
Proceeding), the 

  

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Company shall contribute to the amount of Damages (including attorneys’ fees) actually and reasonably incurred and paid or payable by Indemnitee in such
proportion as is appropriate to reflect (i) the relative benefits received by the Company and/or any of its subsidiaries or any Related Company, or any of their affiliates other than Indemnitee, on the one hand, and Indemnitee on the other from
the transaction or events from which such Proceeding arose or to which such Proceeding relates, and (ii) the relative fault of the Company and/or any of its subsidiaries or any Related Company, or any of their affiliates other than Indemnitee,
on the one hand, and of Indemnitee on the other in connection with the transaction or events that resulted in such Damages, as well as any other relevant equitable considerations. The relative fault of the Company and/or any of its subsidiaries or
any Related Company, or any of their affiliates other than Indemnitee, on the one hand, and of Indemnitee on the other shall be determined by reference to, among other things, the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent the circumstances resulting in such Damages. The Company agrees that it would not be just and equitable if contribution pursuant to this Section 6(c) were determined by pro rata allocation or any other method
of allocation that does not take account of the foregoing equitable considerations. 
 7. Release of Claims Relating to Officer’s
Failure to Discharge Duties. If Indemnitee is an officer of the Company and/or one or more of its subsidiaries, the indemnification and other rights and benefits provided to Indemnitee by this Agreement shall apply fully with respect to any
Proceeding in which it is claimed or adjudicated that Indemnitee is liable to the Company and/or one or more of its subsidiaries by reason of having failed to discharge the duties of Indemnitee’s office, and the Company hereby irrevocably
releases all such claims and liabilities, agrees to cause its subsidiaries to release all such claims, and agrees to hold Indemnitee harmless with respect to any such claims; provided, however, that the foregoing indemnification,
release and hold harmless obligations of the Company shall have no application with respect to claims by and liabilities to the Company based upon actions or omissions described in one or more of clauses (i) through (iv) of the first sentence of
Section 1(a). 
  

	 	8.	Miscellaneous. 

 a. This Agreement shall be
interpreted and enforced in accordance with the laws of the State of Washington. 
 b. This Agreement shall be binding upon Indemnitee and
upon the Company, its successors and assigns, and shall inure to the benefit of Indemnitee, Indemnitee’s heirs, personal representatives and assigns and to the benefit of the Company, its successors and assigns. The Company shall require any
successor to the Company (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company, expressly to assume and agree to perform this Agreement in the same manner
and to the same extent that the Company would be required to perform if no such succession had taken place. 
 c. Indemnitee’s rights to
indemnification and advancement of expenses under this Agreement shall not be deemed exclusive of any other or additional rights to which Indemnitee may be entitled under the Articles or the Bylaws of the Company, any vote of shareholders or
disinterested directors, the Statute or otherwise, whether as to actions or omissions in Indemnitee’s official capacity or otherwise. 
  

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 d. Nothing in this Agreement shall confer upon Indemnitee the right to continue to serve as a director
and\or officer of the Company or any of its subsidiaries or any Related Company. If Indemnitee is an officer of the Company, then, unless otherwise expressly provided in a written employment agreement between the Company and Indemnitee, the
employment of Indemnitee with the Company shall be terminable at will by either party. The indemnification and release provided under this Agreement shall apply to any and all Proceedings, notwithstanding that Indemnitee has ceased to be a director,
officer, partner, employee, trustee or agent of the Company, any of its subsidiaries or a Related Company, and shall inure to the benefit of the heirs, executors and administrators of Indemnitee. 
 e. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever, then: (i) the
validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, all portions of any paragraphs of this Agreement containing any such invalid, illegal or unenforceable provision that are not
themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (ii) to the fullest extent possible, the provisions of this Agreement (including, without limitation, all portions of any paragraphs of this
Agreement containing any such invalid, illegal or unenforceable provision, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or
unenforceable. 
 f. Any notices or communications to be given or required to be given under this Agreement shall be given by personal
delivery or registered airmail, overnight courier, telex, facsimile or electronic mail at the following address (or such other address as the relevant party provides the other party in writing and referencing this Section 8(f)): 
  

			
	Company:
	
	Imperium Renewables, Inc.
	  

	  

	(Fax)                                     
                                        
                
	(Tel)                                     
                                        
                
	Attn: Chief Financial Officer
	electronic
mail:                                       
                                  
	
	Indemnitee:
	
	  

	  

	(Fax)                                     
                                        
                
	(Tel)                                     
                                        
                
	electronic mail:                                   
                                      

  

 11 

 Notices and communications shall be deemed received by the addressee on the date of delivery if delivered in person, on
the third (3rd) day after mailing if delivered by registered airmail, on the next business day after mailing if sent by overnight courier, on the next business day if sent by telex or facsimile, or upon confirmation of delivery when directed to
the electronic mail address described above if sent by electronic mail. 
 g. No amendment, modification, termination or cancellation of this
Agreement shall be effective unless in writing signed by both parties hereto. 
 h. If Indemnitee has previously executed an indemnification
agreement with the Company, this Agreement supersedes such prior indemnification agreement in its entirety. 
 i. This Agreement may be
executed in two counterparts, each of which shall be deemed an original, but both of which together shall constitute one and the same instrument. 
 IN WITNESS WHEREOF, the parties have executed and delivered this Agreement effective as of the day and year first set forth above. 
  

					
	 “Company”
	 	IMPERIUM RENEWABLES, INC.
		
		 	By:                                      
                                        
                                        
         
		 	Name:                                     
                                        
                                        
     
		 	Its:                                      
                                        
                                        
          
		
	 “Indemnitee”
	 	  

		 	  

		 	  

  

 12Key Employee Agreement

 Exhibit 10.2 
 SEATTLE BIOFUELS, INC. 
 KEY
EMPLOYEE AGREEMENT FOR 
 MARTIN TOBIAS 
 This Employment Agreement between Seattle Biofuels, Inc, a Washington corporation, and Martin Tobias, a Washington resident, is dated as of May 23,
2005. 
 1. Responsibilities. You will perform the duties customarily performed by the Chief Executive Officer (“CEO”) of a
corporation which is, in all respects, similar to the Company and such other duties as may be assigned from time to time by the Board of Directors of the Company, which relate to the business of the Company, its subsidiaries, its parent corporation,
or any business ventures in which the Company, its subsidiaries or its parent corporation may participate. You will report to the Company’s Board of Directors. 
 We expect you to devote all of your productive time, ability, attention and effort to the Company’s business and will skillfully serve its interests while serving as CEO; provided, however, that you
may devote reasonable periods of time to (a) engaging in personal investment activities, (b) serving on the Board of Directors of other corporations, if such service is not with an enterprise that competes with the Company, and
(c) engaging in charitable or community service activities, so long as none of the foregoing additional activities materially interfere with your duties as CEO. 
 2. At-Will Employment. It is understood and agreed by you and the Company that this Agreement does not contain any promise or representation concerning the duration of your employment with the Company. You
specifically acknowledge that your employment with the Company is at-will and may be altered or terminated by either you or the Company at any time, with or without cause and/or with or without notice. In the event of a conflict between this and any
other statement, oral or written, present or future, concerning terms and conditions of employment, the at-will relationship confirmed in this disclaimer shall control. This at-will status cannot be altered except in writing signed by you and all
non-interested Directors. 
 3. Compensation. Your salary will be $150,000 per year, payable monthly; provided, however, that payment
of your salary shall be deferred until our anticipated $2 million funding round closes. As soon as the Company’s shareholders approve an option plan the Board of Directors will meet to grant you options to purchase 1,080,000 shares of the
Company’s common stock at the fair market value of such shares on the date of the meeting. The options will vest monthly over a three-year period and will have a life of ten years. 

 4. Benefits. During the term of your employment you will be entitled to participate, subject to
and in accordance with applicable eligibility requirements, in any fringe benefit programs the Company may have. [Describe vacation and sick leave benefits.] 
 5. Term of Employment; Termination 
 (a) The Effective Date of this Agreement is May 23, 2005, which will also be your start date. 
 (b) Unless otherwise mutually
agreed in writing, this Agreement and your employment by the Company pursuant to this Agreement shall be terminated on the earliest of: 
 (i) your death, or any illness, disability or other incapacity in such a manner that you are physically rendered unable regularly to perform your duties hereunder for a period in excess of one hundred twenty
(120) consecutive days or more than one hundred eighty (180) days in any consecutive twelve (12) month period; 
 (ii) thirty (30) days after you, for any reason, give written notice to the Company of your termination; or 
 (iii) thirty (30) days after the Company, with or without cause, gives written notice to you of your termination. 
 (c) The
determination regarding whether you are physically unable regularly to perform your duties under (a) above shall be made by the Board of Directors, whose determination shall be based in part on a medical report prepared by a physician selected
by the Board. Your inability to be physically present on the Company’s premises shall not constitute a presumption that you are unable to perform such duties. 
 (d) Any notice required to be given pursuant to this Section 5 shall be given in accordance with the provisions of Section 7(e) hereof. The exercise of either party’s right to terminate this Agreement
pursuant to Section 5 (b)(ii) or (iii) above shall not abrogate the rights and remedies of the terminating party regarding the breach, if any, giving rise to such termination. 
 (e) You may be terminated for cause, immediately and without notice, if, in the reasonable determination of the Company’s Board of Directors, you
are charged with or convicted of any felony or of any crime involving moral turpitude, or participate in any fraud against the Company, or willfully breach your duties to the Company, or wrongfully disclose any trade secrets or other confidential
information of the Company, or materially breach Section 1 of this Agreement or any material provision of the Confidential Information, Nonsolicitation and Noncompetition Agreement, between you and the Company (the “Confidentiality
Agreement”). 
  

 2 

 6. Confidentiality; Intellectual Property. Your employment is conditioned upon your signing our
the Confidentiality Agreement, in the form attached. You acknowledge that you will be an executive officer of the Company. You acknowledge and agree to all the terms of that agreement, including but not limited to the 12-month non-competition
obligation. You further acknowledge that as such you will be privy to extremely sensitive, confidential and valuable commercial information, which constitutes trade secrets belonging to the Company, disclosure of which information and secrets would
greatly harm the Company. 
 7. Former Employment. You represent and warrant that your employment by the Company will not conflict
with and will not be constrained by any prior employment or consulting agreement or relationship. You represent and warrant that you do not possess confidential information arising out of prior employment which, in your best judgment, would be
utilized in connection with your employment by the Company, except in accordance with agreements between your former employer and the Company. 
 7. General Provisions. 
 (a) Taxes. You agree to be responsible for the payment of any taxes due on any and all
compensation, stock, stock option, or benefit in connection with your employment by the Company. You expressly acknowledge that the Company has not made, nor herein makes, any representation about the tax consequences of any consideration provided
to you by the Company, and you hereby release the Company from any claims or penalties asserted against you for failure to pay or apprise you of any such tax consequences. 
 (b) Remedies. Your duties under the Confidentiality Agreement shall survive termination of your employment with the Company. You acknowledge that
a remedy at law for any breach or threatened breach by you of the provisions of the Confidentiality Agreement would be inadequate and you therefore agree that the Company shall be entitled to injunctive relief in case of any such breach or
threatened breach. 
 (c) Assignment. Neither this Agreement nor any rights or obligations hereunder may be assigned by you.

 (d) Severability. In case any one or more of the provisions contained in this Agreement shall, for any reason, be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision
had never been contained herein. If moreover, any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad or unenforceable as to duration, geographical scope, activity or subject, it shall be
construed by limiting and reducing it, so as to be enforceable to the extent compatible with applicable law. 
 (e) Notices. Any
notice which the Company is required or may desire to give you shall be given by personal delivery, registered or certified mail, return receipt requested, or electronic mail, addressed to you at the mailing or electronic mail address of 

  

 3 

 
record with the Company, or at such other place as you may from time to time designate in writing. Any notice which you are required or may desire to give to
the Company hereunder shall be given by personal delivery, registered or certified mail, return receipt requested, or electronic mail, addressed to the Company at its principal office, or at such other office as the Company may from time to time
designate in writing or to the electronic mail address of the Chairman of the Company’s Board of Directors. The date of personal delivery or the date of mailing any such notice (including by electronic mail) shall be deemed to be the date of
delivery thereof. 
 (f) Waiver. If either party should waive any breach of any provisions of this Agreement, he or it shall not
thereby be deemed to have waived any preceding or succeeding breach of the same or any other provision of this Agreement. 
 (g) Complete
Agreement; Amendments. The foregoing, together with the Confidentiality Agreement, is the entire agreement of the parties with respect to the subject matter hereof and thereof and supersede any and all prior agreements, arrangements and
understandings, written or oral, pertaining to the subject matter hereof. No representation, promise or inducement relating to the subject matter hereof has been made to a party that is not embodied in these Agreements, and no party shall be bound
by or liable for any alleged representation, promise or inducement not so set forth. 
 (h) Headings. The headings of the sections
hereof are inserted for convenience only and shall not be deemed to constitute a part hereof nor to affect the meaning thereof. 
 (i)
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument. 
 (j) Attorney Fees. If either party hereto brings any action to enforce its rights hereunder, the prevailing party in any such action shall be
entitled to recover his or its reasonable attorneys’ fees and costs incurred in connection with such action. 
 (k) Governing
Law. This Agreement shall be governed in all respects by the laws of the State of Washington as such laws are applied to agreements between Washington residents entered into entirely in Washington. 
  

									
	SEATTLE BIOFUELS, INC.	 		 	MARTIN TOBIAS
			
	 /s/ John Plaza
	 		 	 /s/ Martin Tobias

	By:	 	John Plaza, Director	 		 		 	
					
	Date:	 	12/21/05	 		 	Date:	 	12/21/05

  

 4

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