Document:

Exhibit 10.8

                               INTER-CON/PC, INC.
                        1997 DIRECTORS' STOCK OPTION PLAN

         1. PURPOSE OF THE PLAN. The purpose of this Inter-Con/PC, Inc. 1997
Directors' Stock Option Plan is to attract and retain the best available
individuals for service as Outside Directors of the Company and provide
additional incentive to the Outside Directors of the Company to serve as
Directors.

                  None of the options granted hereunder shall be "incentive
stock options" within the meaning of Section 422 of the Code (as hereinafter
defined).

         2. DEFINITIONS. As used herein, the following definitions shall apply:

                  (a)      "Board" shall mean the Board of Directors of the
                           Company.

                  (b)      "Code" shall mean the Internal Revenue Code of 1986,
                           as amended.

                  (c)      "Common Stock" shall mean the Common Stock of the
                           Company, $.001 par value per share.

                  (d)      "Company" shall mean Inter-Con/PC, Inc., a Minnesota
                           corporation.

                  (e)      "Continuous Status as a Director" shall mean the
                           absence of any interruption or termination of service
                           as a Director.

                  (f)      "Director" shall mean a member of the Board.

                  (g)      "Employee" shall mean any person, including officers
                           and Directors, employed by the Company or any parent
                           or Subsidiary of the Company. The payment of a
                           Director's fee by the Company shall not be sufficient
                           in and of itself to constitute "employment" by the
                           Company.

                  (h)      "Exchange Act" shall mean the Securities Exchange Act
                           of 1934, as amended.

                  (i)      "Option" shall mean a stock option granted pursuant
                           to the Plan.

                  (j)      "Optioned Stock" shall mean the Common Stock subject
                           to an Option.

                  (k)      "Optionee" shall mean an Outside Director who
                           receives an Option.

                  (l)      "Outside Director" shall mean a Director who is not
                           an Employee.

                  (m)      "Parent" shall mean a "parent corporation," as
                           defined in Section 425(e) of the Code, whether now or
                           hereafter existing.

                  (n)      "Plan" shall mean this Inter-Con/PC, Inc. 1997
                           Directors' Stock Option Plan.

                  (o)      "Shares" shall mean shares of the Common Stock, as
                           adjusted in accordance with Section 11 of the Plan.

                  (p)      "Subsidiary" shall mean a "subsidiary corporation,"
                           whether now or hereafter existing, as defined in
                           Section 425(f) of the Code.

                                       -1-

<PAGE>

         3. STOCK SUBJECT TO THE PLAN. Subject to the provisions of Section 9 of
the Plan, the maximum aggregate number of Shares which may be optioned and sold
under the Plan is 100,000 Shares of Common Stock.

                  If an Option should expire or become unexercisable for any
reason without having been exercised in full, the unpurchased Shares which were
subject thereto shall, unless the Plan shall have been terminated, become
available for issuance on exercise of future options granted under the Plan. If
Shares which were acquired upon exercise of an Option are subsequently
repurchased by the Company, such Shares shall not in any event be returned to
the Plan and shall not become available for future grant under the Plan.

         4. ADMINISTRATION OF AND GRANTS OF OPTIONS UNDER THE PLAN.

         4.01 Administrator. Except as otherwise required herein, the Plan shall
be administered by the Board.

         4.02 Procedure for Grants. All grants of Options hereunder shall be
automatic and nondiscretionary and shall be made strictly in accordance with the
following provisions:

                  (a) No person shall have any discretion to select which
         Outside Directors shall be granted Options or to determine the number
         of Shares to be covered by Options granted to Outside Directors.

                  (b) Each Outside Director shall be automatically granted an
         Option (an "Initial Grant") to purchase 12,000 Shares on the date on
         which such person first becomes a Director, whether through election by
         the shareholders of the Company or appointment by the Board of
         Directors to fill a vacancy. Options granted under this Section 4.02(b)
         shall become vested and thereby exercisable with respect to 331/3% of
         such Initial Grant six months after the date of such Initial Grant,
         with respect to an additional 331/3% of the initial Grant twelve (12)
         months after the date of the Initial Grant and with respect to the
         remaining 331/3% of the Initial Grant twenty-four (24) months after the
         date of the Grant; provided, however, any unvested portion of an
         Initial Grant shall vest only if the Outside Director remains a
         Director on the date such portion vests.

                  (c) Each Outside Director shall automatically receive, on the
         date of each Annual Meeting of Shareholders, an Option to purchase
         3,000 Shares of the Company's Common Stock, such Option to become
         exercisable six (6) months subsequent to the date of grant; provided
         however, that such Option shall only be granted to Outside Directors
         who have served since the date of the last Annual Meeting of
         Shareholders and will continue to serve after the date of grant of such
         Option.

                  (d) The terms of an Option granted hereunder shall be as
         follows:

                           (i) the term of the Option shall be ten (10) years
                  from the date the Option is granted.

                           (ii) the Option shall be exercisable only while the
                  Outside Director remains a Director of the Company, except as
                  set forth in Section 7 hereof.

                           (iii) the exercise price per Share shall be 100 % of
                  the fair market value per Share on the date of grant of the
                  Option.

         4.03 Powers of the Board. Subject to the provisions and restrictions of
the Plan, the Board shall have the authority, in its discretion: (i) to
determine, upon review of relevant information and in accordance with Section
6.02 of the Plan, the fair market value of the Common Stock; (ii) to determine
the exercise price per share of Options to be granted, which exercise price
shall be determined in accordance with Section 6.01 of the Plan; (iii) to
interpret the Plan;

                                       -2-

<PAGE>

(iv) to prescribe, amend and rescind rules and regulations relating to the Plan;
(v) to authorize any person to execute on behalf of the Company any instrument
required to effectuate the grant of an Option previously granted hereunder; and
(vi) to make all other determinations deemed necessary or advisable for the
administration of the Plan.

         4.04 Effect of Board's Decision. All decisions, determinations and
interpretations of the Board shall be final and binding on all Optionees and any
other holders of any Options granted under the Plan.

         5. ELIGIBILITY. Options may be granted only to Outside Directors. All
Options shall be automatically granted in accordance with the terms set forth in
Section 4.02 hereof.

                  The Plan does not confer upon any Optionee any right with
respect to continuation of service as a Director or nomination to serve as a
Director, nor shall it interfere in any way with any rights which a Director of
the Company may have to terminate his or her directorship at any time.

         6. EXERCISE PRICE AND CONSIDERATION.

         6.01. Exercise Price. The per Share exercise price for the Shares to be
issued pursuant to exercise of an Option shall be 100% of the fair market value
per Share on the date of grant of the Option.

         6.02. Determination of Fair Market Value. If, at any time fair market
value of Common Stock is to be determined, the Company's Common Stock is
publicly traded, then "fair market value" shall, for purposes of this Plan,
mean:

                  (a)      the average (on that date) of the high and low prices
                           of the Common Stock on the principal national
                           securities exchange on which the Common Stock is
                           traded, if the Common Stock is then traded on a
                           national securities exchange; or

                  (b)      the last reported sale price (on that date) of the
                           Common Stock on the NASDAQ National Market List, if
                           the Common Stock is not then traded on a national
                           securities exchange; or

                  (c)      the closing bid price (or average of bid prices) of
                           the Common Stock last quoted (on that date) by an
                           established quotation service for over-the-counter
                           securities, if the Common Stock is not then traded on
                           a national securities exchange or reported on the
                           NASDAQ National Market List.

However, if the Common Stock is not publicly traded at the time fair market
value of Common Stock is to be determined, "fair market value" shall be deemed
to be the fair value of the Common Stock as determined by the Committee after
taking into consideration all factors in good faith it deems appropriate,
including, without limitation, recent sale and offer prices of the Common Stock
in private transactions negotiated at arm's length.

         6.03. Form of Consideration. Subject to compliance with applicable
provisions of Section 16(b) of the Exchange Act, (or other applicable law), the
consideration to be paid for the Shares to be issued upon exercise of any
Option, including the method of payment, shall be determined by the Board and
may consist entirely of (i) cash, (ii) check, (iii) other Shares which have a
fair market value on the date of exercise equal to the aggregate exercise price
of the Shares as to which said Option shall be exercised, (iv) authorization for
the Company to retain from the total number of Shares as to which the Option is
exercised that number of Shares having a fair market value on the date of
exercise equal to the exercise price for the total number of Shares as to which
the Option is exercised, (v) delivery of a properly executed exercise notice
together with irrevocable instructions to a broker to promptly deliver to the
Company the amount of sale or loan proceeds required to pay the exercise price,
(vi) delivery of an irrevocable subscription agreement for the Shares which
irrevocably obligates the option holder to take and pay for the Shares not more
than twelve months after the date of delivery of the subscription agreement,
(vii) any combination of the foregoing methods of payment, or (viii) such other
consideration and method of payment for the issuance of Shares as may be
permitted under applicable laws.

                                       -3-

<PAGE>

         7. EXERCISE OF OPTION.

         7.01. Procedure for Exercise; Rights as a Shareholder. Any Option
granted hereunder shall become exercisable at such times as set forth in Section
4.02 hereof.

                  An Option may not be exercised for a fraction of a Share.

                  An Option shall be deemed to be exercised when written notice
of such exercise has been give to the Company in accordance with the terms of
the Option by the person entitled to exercise the Option and full payment for
the Shares with respect to which the Option is exercised has been received by
the Company. Full payment may consist of any consideration and method of payment
determined by the Board and allowable under Section 6.03 of the Plan.

                  Until the issuance (as evidenced by the appropriate entry on
the books of the Company or of a duly authorized transfer agent of the Company)
of the stock certificate evidencing such Shares, no right to vote or receive
dividends or any other rights as a shareholder shall exist with respect to the
Optioned Stock, notwithstanding the exercise of the Option. A share certificate
for the number of Shares so acquired shall be issued to the Optionee as soon as
practicable after exercise of the Option. No adjustment will be made for a
dividend or other right for which the record date is prior to the date the stock
certificate is issued, except as provided in Section 9 of the Plan.

                  Exercise of an Option in any manner shall result in a decrease
in the number of Shares which thereafter may be available, both for purposes of
the Plan and for sale under the Option, by the number of Shares as to which the
Option is exercised.

         7.02. Termination of Status as a Director. If an Outside Director
ceases to serve as a Director, he or she may, but only within five (5) years
after the date he or she ceases to be a Director of the Company, exercise his or
her Option to the extent that he or she was entitled to exercise it on the last
day of his or her service as a Director; provided, however, that in no event may
an Option be exercised after the expiration of the term of the Option set forth
in Section 4.02(d)(i). To the extent that an Outside Director was not entitled
to exercise an Option on the date the Outside Director ceases to be a Director
of the Company, or if he or she does not exercise such option (which he or she
was entitled to exercise) within the time specified herein, the Option shall
terminate.

         8. NON-TRANSFERABILITY OF OPTIONS. The Option may not be sold, pledged,
assigned, hypothecated, transferred, or disposed of in any manner other than by
will or by the laws of descent and distribution and may be exercised, during the
lifetime of the Optionee, only by the Optionee.

         9. ADJUSTMENTS UPON CHANGES IN CAPITALIZATION, DISSOLUTION OR MERGER.

         9.01. Changes in Capitalization. In the event that the number of
outstanding shares of Common Stock of the Company is changed by a stock
dividend, stock split, reverse stock split, combination, reclassification or
similar change in the capital structure of the Company without consideration,
the number of Shares available under this Plan and the number of Shares subject
to outstanding Options and the exercise price per share of such Options shall be
proportionately adjusted, subject to any required action by the Board or
shareholders of the Company and compliance with applicable securities laws;
provided however, that no certificate or scrip representing fractional shares
shall be issued upon exercise of any Option and any resulting fractions of a
Share shall be ignored. Such adjustment shall be made by the Board, whose
determination in that respect shall be final, binding and conclusive.

         9.02. Dissolution or Merger. In the event of a dissolution or
liquidation of the Company, a merger in which the Company is not the surviving
corporation, a transaction or series of related transactions in which one
hundred percent (100%) of the then outstanding voting stock is sold or otherwise
transferred, or the sale of substantially all of the assets of the Company, any
or all outstanding Options shall, notwithstanding any contrary terms of the
written agreement governing such Option, accelerate and become exercisable in
full at least ten days prior to (and shall expire

                                       -4-

<PAGE>

on) the consummation of such dissolution, liquidation, merger or sale of stock
or sale of assets on such conditions as the Board shall determine unless the
successor corporation assumes the outstanding Options or substitutes
substantially equivalent options.

         10. TIME OF GRANTING OPTIONS. The date of grant of an Option shall, for
all purposes be the date determined in accordance with Section 4.02 hereof.
Notice of the determination shall be given to each Outside Director to whom an
Option is so granted within a reasonable time after the date of such grant.

         11. ADOPTION, AMENDMENT AND TERMINATION OF THE PLAN.

         11.01 Adoption. This Plan was adopted by the Board and approved by the
shareholders of the Company on March 6, 1997.

         11.02. Amendment and Termination. The Board may at any time amend,
alter, suspend, or discontinue the Plan, but no amendment, alteration,
suspension, or discontinuance shall be made which would impair the rights of any
Optionee under any grant theretofore made, without his or her consent.

         11.03. Effect of Amendment and Termination. Any such amendment or
termination of the Plan shall not affect Options already granted and such
Options shall remain in full force and effect as if this Plan had not been
amended or, unless mutually agreed otherwise between the Optionee and the Board,
which agreement must be in writing and signed by the Optionee and the Company.

         12. CONDITIONS UPON ISSUANCE OF SHARES. Shares shall not be issued
pursuant to the exercise of an Option unless the exercise of such Option and the
issuance and delivery of such Shares pursuant thereto shall comply with all
relevant provisions of law, including, without limitation, the Securities Act of
1933, as amended, the Exchange Act, the rules and regulations promulgated
thereunder, state securities laws, and the requirements of any stock exchange
upon which the Shares may then be listed, and shall be further subject to the
approval of counsel for the Company with respect to such compliance.

                  As a condition to the exercise of an Option, the Company may
require the person exercising such Option to represent and warrant at the time
of any such exercise that the Shares are being purchased only for investment and
without any present intention to sell or distribute such Shares, if, in the
opinion of counsel for the Company, such a representation is required by any of
the aforementioned relevant provisions of law.

                  The inability of the Company, as determined by the Company's
counsel, to lawfully issue and sell any Shares hereunder, shall relieve the
Company of any liability in respect of the failure to issue or sell such Shares.

         13. RESERVATION OF SHARES. The Company, during the term of this Plan,
will at all times reserve and keep available such number of the Shares available
for issuance pursuant to this Plan as shall be sufficient to satisfy the
requirements of the Plan.

         14. OPTION AGREEMENT. Options shall be evidenced by written option
agreements in such form as the Board shall approve.

                   AMENDMENT OF DIRECTORS' STOCK OPTION PLAN

         WHEREAS, the Board of Directors and shareholders of the Company have
adopted and approved the Inter-Con/PC, Inc. 1997 Directors' Stock Option Plan
("Directors' Plan") effective March 6, 1997;

                                       -5-

<PAGE>

         WHEREAS, the Board of Directors and shareholders desire to amend the
Directors' Plan to increase the number of shares authorized to be optioned and
sold under the Directors' Plan and to increase the number of shares subject to
options to be granted to each Outside Director:

         WHEREAS, the Board and shareholders have determined that said proposed
Amendments will assist the Company in obtaining and retaining qualified
personnel in positions as Outside Directors and therefore would be in the best
interest of the Company;

         NOW, THEREFORE, BE IT:

         RESOLVED, that the first sentence of Section 3 of the Directors' Plan
         is hereby amended in its entirety to read as follows:

                  "Subject to the provisions of Section 9 of the Plan, the
                  maximum aggregate number of Shares which may be optioned and
                  sold under the Plan is 150,000 Shares of Common Stock."

         RESOLVED FURTHER, that the first sentence of Section 4.02(b) of the
         Plan is hereby amended in its entirety to read as follows:

                  "(b) Each Outside Director shall be automatically granted an
                  Option ("Initial Grant") to purchase 24,000 Shares on the date
                  on which such person becomes a Director, whether through
                  election by the shareholders of the Company or appointment by
                  the Board of Directors to fill a vacancy."

         RESOLVED FURTHER, that Section 4.02(c) of the Plan is hereby amended in
         its entirety to read as follows:

                  "(c) Each Outside Director shall automatically receive, on the
                  date of each Annual Meeting of Shareholders, an Option to
                  purchase 6,000 Shares of the Company's Common Stock, such
                  Option to become exercisable six (6) months subsequent to the
                  date of grant; provided however, that such Option shall only
                  be granted to Outside Directors who have served since the date
                  of the last Annual Meeting of Shareholders and will continue
                  to serve after the date of grant of such Option."

         RESOLVED FURTHER, that the foregoing resolutions amending Sections
         4.02(b) and 4.02(c) of the Directors' Plan shall be effective and apply
         retroactively to all Options granted to Outside Directors elected on or
         after May 30, 1997.

                                      -6-EXHIBIT 10.7

                              EMPLOYMENT AGREEMENT

         This Employment Agreement ("Agreement") dated as of the 1st day of
April, 2000 (the "Commencement Date"), between MINNESOTA CORN PROCESSORS, LLC
("Company") and L. DANIEL THOMPSON ("Employee").

         The Company and the Employee agree as follows:

         1. EMPLOYMENT CAPACITY; TERM OF AGREEMENT. The Employee will serve as
President and Chief Executive Officer of the Company for an initial term (the
"Initial Term") beginning on the Commencement Date and ending on March 31, 2003.
On April 1, 2003, and on each April 1 thereafter, the term of this Agreement and
the employment of the Employee pursuant to this Agreement shall be automatically
extended for successive one-year renewal periods (each a "Renewal Term") unless
and until the Company gives the Employee a written termination notice at least 6
months before the end of the Initial Term or the Renewal Term (and in that case
this Agreement shall terminate on the last day of the Initial Term or the
Renewal Term as applicable). For purposes of this Agreement, the "Employment
Term" means the Initial Term and each Renewal Term, subject to early termination
pursuant to Section 5 below.

         2. DEVOTION TO RESPONSIBILITIES. Employee hereby confirms that he is
under no contractual commitments inconsistent with his obligations set forth in
this Agreement. During the Employment Term, the Employee shall devote all of his
time and attention during normal business hours to the business of the Company,
and he will not engage in or be employed by any other business activity or
business, whether or not such business activity or business is for gain, profit
or other pecuniary advantage, provided, however, that nothing herein shall
prohibit the Employee from (i) serving as a member of the Board of Directors,
Board of Trustees or the like of any for profit or non-profit entity, or
performing services of any type for any civic or community entity, whether or
not the Employee receives compensation therefore, (ii) investing his assets in
such form or manner as will require no more than nominal services on the part of
the Employee in the operation of the business of the entity in which such
investment is made, or (iii) serving in various capacities with, and attending
meetings of, industry or trade groups and associations, including without
limitation the industry or trade groups and associations with which the Employee
is currently involved, as long as the Employee's engaging in any one or more of
the activities permitted by virtue of clauses (i), (ii) and (iii) above does not
or do not materially and unreasonably interfere with the ability of the Employee
to perform the services and discharge the responsibilities required of him under
this Agreement.

         3. BASE SALARY; INCENTIVE COMPENSATION BENEFITS. The Company will
provide the Employee with the compensation and benefits described below:

            a. BASE SALARY. An annual base salary during the Employment Term of
$275,000 ("Annual Base Compensation"), payable to the Employee in accordance
with the Company's normal payroll cycle. Salary and performance reviews will be
conducted by the Company's Board of Directors on or about April 1st of each year
for possible salary increases.

            b. VACATION. Employee shall be entitled to two (2) weeks vacation
per year and an additional two (2) weeks of paid leave.

            c. INCENTIVE COMPENSATION. Employee shall be eligible for an annual
bonus for each fiscal year in which the Company is profitable, in an amount
equal to (i) 1/4% of the first $50 million of the Company's Net Proceeds for the
fiscal year plus (ii) 1/8% of the Company's Net Proceeds for the fiscal year in
excess of $50 million. For this purpose, "Net Proceeds" shall mean the Company's
net income for the fiscal year as shown on the Company's audited financial
statements for the fiscal year, determined without regard to extraordinary
income items. The annual bonus, if any, payable to the Employee for any fiscal
year in which the Company is unprofitable, shall be determined at the sole
discretion of the Company's Board of Directors. The annual bonus, if any, shall
be determined by the Board of Directors and paid to the Employee as soon as
practicable and in any event within 90 days after the end of each fiscal period.

            d. ANNUITY. The Company shall annually invest $20,000 in a fully
vested annuity with Employee as full owner. The terms of the annuity to be
purchased shall be as mutually agreed upon from time to time by the Company's
Board of Directors and the Employee, and, to the extent practicable, the parties
will select an

<PAGE>

annuity providing that no taxable income will be realized by the Employee until
payments are actually made to the Employee.

            e. OTHER BENEFITS. Employee shall be entitled to participate in the
Company's 401(i) plan and all other employee benefit plans or programs of the
Company to the extent that his position, title, tenure, salary, age, health and
other qualifications make him eligible to participate. The Company does not
guarantee the adoption or continuance of any particular employee benefit plan or
program during the term of this agreement, and Employee's participation in any
such plan or program shall be subject to the provisions, rules and regulations
applicable thereto; provided, however, that the Company shall not establish
rules for participation in any such plans or programs that unfairly discriminate
against Employee.

         4. EXPENSES. The Employee will be reimbursed for reasonable
out-of-pocket expenses incurred from time to time on behalf of the Company or
any subsidiary in the performance of his duties under this Agreement, upon the
presentation of such supporting invoices, documents and forms as the Company
reasonably requests.

         5. TERMINATION.

            a. GROUNDS FOR TERMINATION DURING THE EMPLOYMENT TERM. This
Agreement and the Employee's employment by the Company shall terminate prior to
the expiration of the Employment Term in the event that at any time during such
Employment Term:

               (1) Employee dies, or

               (2) Employee becomes "disabled", or

               (3) The Board of Directors of the Company notifies Employee in
         writing that this Agreement is being terminated for "cause," or

               (4) The Board of Directors of the Company elects to terminate
         this Agreement without "cause" and notifies Employee in writing of such
         election, or

               (5) Employee elects to terminate this Agreement and notifies
         the Company in writing of such election.

If this Agreement is terminated pursuant to subsection (1), (2), (3) or (4) of
this Section, such termination shall be effective immediately. If this Agreement
is terminated pursuant to subsection (5) of this Section, such termination shall
be effective thirty (30) days after the Employee delivers a written notice of
termination to the Company.

            b. DEFINITIONS. For purposes of this Agreement, the following
definitions shall apply:

               (1) "Cause" shall mean Employee (i) has engaged in any willful
         and material misconduct, including willful and material failure to
         perform his duties as an officer or employee of the Company, and has
         failed to cure such default within thirty (30) days after receipt of
         written notice of such conduct from the Company, or (ii) has committed
         fraud, misappropriation or embezzlement with the Company's business or
         assets, or (iii) has been convicted or pleaded nolo contendere to
         criminal misconduct (excluding misdemeanors or traffic violations), or
         (iv) has used narcotics, liquor or illicit drugs in a manner having a
         detrimental effect on the performance of his employment
         responsibilities.

               (2) "Disabled" shall mean that Employee suffers an injury or
         illness or other incapacity which is serious enough that he is not able
         to perform the essential functions of his job, with or without
         reasonable accommodations, as defined by various state and federal
         disability laws. Employee shall be presumed to be disabled for the
         purpose of this Agreement if Employee qualifies, because of injury,
         illness or incapacity, to begin receiving disability income insurance
         payments under any long term disability income insurance policy that
         Company maintains for the benefit of its officers generally. If there

                                      -2-
<PAGE>

         is no such policy in effect at the date of Employee's injury, illness
         or incapacity, Employee shall be presumed to have such a disability for
         the purpose of this Agreement if Employee is substantially incapable of
         performing his duties for a period of more than twelve (12) weeks.

            d. EFFECT OF TERMINATION. If this Agreement terminates at the end of
the Employment Term or earlier as provided in this Section, all of the rights
and obligations of Employee and Company hereunder shall terminate as of the
effective date of such termination. However, notwithstanding the termination of
this Agreement and Employee's employment hereunder (i), if applicable, Employee
shall be entitled to the benefits provided in Sections 5(e) and (f) below, and
(ii) Employee, in consideration of his employment hereunder to the date of such
termination, shall remain bound by Sections 6 and 7 hereof and any other
provisions of this Agreement which specifically relate to periods, activities or
obligations upon or subsequent to the termination of Employee's employment.

            e. MARSHALL RESIDENCE. MCP will compensate the Employee for up to
$200,000 financial loss suffered on the sale of his residence in the Marshall
area in the event that his employment is terminated for any reason other than
for cause.

            f. SEVERANCE PAYMENT. If Employee's employment is terminated by the
Company during the Employment Term pursuant to Section 5(a)(4) above (i.e.,
without cause), the Company shall pay to Employee (within 30 days after such
termination), a cash severance payment equal to,

            (A) if the employment is terminated during the Initial Term, an
            amount equal to (i) $275,000 or (ii) if greater, the product of
            $5,288.46 multiplied by the number of weeks remaining from the date
            of termination of employment to the end of the Initial Term, but not
            more than $500,000, or

            (B) if the employment is terminated at any time after the end of the
            Initial Term, an amount equal to $275,000.

It is understood and agreed that no severance payment shall be due in the event
employment is terminated during the Employment Term as provided in Section
5(a)(1), (2), (3), or (5).

         6. TRADE SECRETS, ETC. The Employee shall hold in a fiduciary capacity
for the benefit of the Company all secret or confidential information, knowledge
or data (including without limitation all financial information) relating to the
Company or any of its subsidiaries or affiliates and their respective businesses
and operations, which shall have been obtained by the Employee during the
Employee's employment (whether prior to or after the Commencement Date) and
which shall not have become public knowledge (other than by acts of the Employee
or any of his representatives in violation of this Agreement). Employee
acknowledges that the above-described knowledge or information constitutes a
unique and valuable asset of the Company and represents a substantial investment
of time and expense by Company, and that any disclosure or other use of such
knowledge or information other than for the sole benefit of the Company would be
wrongful and would cause irreparable harm to the Company. At the end of the
Employment Term, the Employee agrees (i) not, without the prior written consent
of the Company or as may be otherwise required by law or legal process, to
communicate or divulge any such information, knowledge or data to any party
other than the Company, and (ii) to deliver promptly to the Company any
confidential information, knowledge or data in his possession, whether produced
by the Company or any of its subsidiaries and corporate affiliates or by the
Employee, that relate to the business of the Company or any of its subsidiaries
or affiliates or any past, current or prospective activity of the Company or any
of its subsidiaries or affiliates. In either event, the Employee shall be
permitted to retain copies of such data as are necessary in order to enable the
Employee to assert any rights under this Agreement, provided that such data
shall be used solely for such purpose.

         7. CUSTOMER LISTS. The Employee recognizes and acknowledges that any
written list or lists of the customers of the Company or any of its subsidiaries
or affiliates ("customer lists"), as such customer lists may exist from time to
time, are valuable, special and unique assets of the Company. The Employee
agrees that he will not

                                      -3-
<PAGE>

use such customer lists for his own personal benefit or disclose such customer
lists to any person, firm, corporation, association or other entity for his own
personal benefit.

         8. INJUNCTIVE RELIEF. In the event of a breach or threatened breach by
the Employee of the provisions of Sections 6 or 7 of this Agreement during or
after the Employment Term, the Company shall be entitled to injunctive relief
restraining the Employee from violation of such provision. Nothing herein shall
be construed as prohibiting the Company from pursuing any other remedy at law or
in equity it may have in the event of breach or threatened breach of this
Agreement by the Employee.

         9. BINDING EFFECT.

            a. This Agreement shall be binding upon and inure to the benefit of
the Company and any of its successors or assigns.

            b. This Agreement is personal to the Employee and shall not be
assignable by the Employee without the consent of the Company (there being no
obligation to give such consent) other than such rights or benefits as are
transferred by will or the laws of descent and distribution.

            c. The Company will require any successor assign (whether direct or
indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the assets or businesses of the Company (i) to assume
unconditionally and expressly this Agreement and (ii) to agree to perform all of
the Company's obligations under this Agreement in the same manner and to the
same extent as would have been required of the Company had no assignment or
succession occurred, such assumption to be set forth in a writing reasonably
satisfactory to the Employee. In the event of any such assignment or succession,
the term "Company" as used in this Agreement shall refer also to such successor
assign.

         10. EXPENSES RELATING TO ENFORCEMENT OF RIGHTS. If either party shall
successfully seek to enforce any provision of this Agreement or to collect any
amount claimed to be due hereunder, the successful party shall be entitled to be
reimbursed by the other party for any and all of its out-of-pocket expenses,
including reasonable attorneys' fees, incurred in connection with such
enforcement and/or collection.

         11. NOTICES. Any notice or other communication required under this
Agreement shall be in writing, shall be deemed to have been given and received
when delivered in person, or, if mailed, shall be deemed to have been given when
deposited in the United States mail, first class, registered or certified,
return receipt requested, with proper postage prepaid, and shall be deemed to
have been received on the third business day thereafter, and shall be addressed
as follows:

                  If to the Company addressed to:

                           Minnesota Corn Processors, Inc.
                           901 North Highway 59
                           Marshall, Minnesota 56258-2744
                           Attn: Chairman

                  If to the Employee, addressed to:

                           L. Daniel Thompson
                           1401 Ridgeway Road
                           Marshall, MN 56258

or such other address as to which any party thereto may have notified the other
in writing.

         12. GOVERNING LAW. This Agreement shall be governed by and interpreted
in accordance with the laws of the State of Minnesota.

                                      -4-
<PAGE>

         13. ENTIRE AGREEMENT AND GOVERNING LAW. This Agreement and the
documents referred to herein constitute the entire arrangement or understanding
between the Employee and the Company relating to the employment of the Employee
by the Company and supersedes and replaces all previous agreements and
discussions relating to similar subjects between the Employee and the Company.
No provision of this Agreement may be modified or amended except by an
instrument in writing signed by the Employee and the Chairman or Vice Chairman
of the board on behalf of the Company.

         14. SEVERABILITY. If any term or provision of this Agreement, or the
application thereof to any person or circumstance, shall at any time or to any
extent be invalid or unenforceable, the remainder of this Agreement, or the
application of such term or provision to persons or circumstances other than
those as to which it is held invalid or unenforceable, shall not be affected
thereby and each term of the provisions of this Agreement shall be valid and
enforced to the fullest extent permitted by law.

         15. WAIVER OF BREACH. The waiver by either party of a breach of any
provision of this Agreement shall not operate or be construed as a waiver of any
subsequent breach thereof.

         16. ARBITRATION. Any controversy or claim arising out of or relating to
this Agreement, the breach thereof, Employee's employment with the Company, or
the termination thereof, shall be settled by arbitration in accordance with the
Commercial Arbitration Rules of the American Arbitration Association (AAA), and
judgment upon the award rendered by the arbitrator may be entered in any court
having jurisdiction thereof. To select an arbitrator, each party shall strike a
name from the list submitted by AAA with the grieving party striking first. The
arbitrators will not have the power to add to or ignore any of the terms and
conditions of this Agreement. Their decision shall not go beyond what is
necessary for the interpretation and application of this Agreement and
obligations of the parties under this Agreement. The cost of such arbitration,
but not attorneys' fees, will be paid by the losing party.

         17. BENEFICIARIES. Whenever this Agreement provides for any payment to
be made to the Employee or his estate, such payment may be made instead to such
beneficiary or beneficiaries as the Employee may have designated in writing and
filed with the Company. The Employee shall have the right to revoke any such
designation from time to time and to redesignate any beneficiary to
beneficiaries by written notice to the Company.

         18. COUNTERPARTS. This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original all of which
together shall constitute one and the same instrument.

                                       MINNESOTA CORN PROCESSORS, INC.

                                       By: /s/ Jerry Jacoby
                                           -------------------------------------

                                       Name: Jerry Jacoby
                                       Title: Chairman of the
                                              Board of Directors

                                       EMPLOYEE:

                                       By: /s/ L. Daniel Thompson
                                           -------------------------------------

                                       Name: L. Daniel Thompson

                                      -5-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00011-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00011-of-00352.parquet"}]]