Document:

Commercialization Agreement

  
  Exhibit
10.13 
   

			
	 Confidential
	 	EXECUTION VERSION

  
 COMMERCIALIZATION AND
SUPPLY AGREEMENT 
  
 This Collaboration and
Supply Agreement (this “Agreement”) is made as of June 16, 2011 (the “Effective Date”) by and between Elevance Renewable Sciences, Inc., a Delaware corporation having its principal office at 175 E. Crossroads
Parkway, Bolingbrook, Illinois 60440 (“Elevance”), and Clariant International AG organized under the laws of Switzerland, with its principal offices at Rothausstrasse 61, CH-4132 Muttenz, Switzerland (“Clariant”).

  
 WHEREAS, Clariant is active in developing,
manufacturing, marketing and distributing specialty chemicals for industrial and consumer products; 
  
 WHEREAS, Elevance is active in developing and manufacturing modified natural oil- based products that can be made in a variety of forms including oils, blends, waxes and emulsions; 

 
 WHEREAS, Elevance has provided to Clariant or Affiliates of
Clariant certain materials for analysis in connection with potential use in certain product applications; 
  

WHEREAS, Elevance desires to enter into collaboration for the supply to Clariant of certain materials to be used in connection with
commercial applications solely for use in connection with lubricants for chlorinated vinyl thermoplastics and with respect to the filing of certain intellectual property rights relating thereto; and 

 
 WHEREAS, Elevance and Clariant have agreed the collaboration
for the specified field outlined in this document as a starting point to further the cooperation between the two companies, and that it is the intent of both parties to expand beyond this starting point to jointly expand such field and scope to
other plastic areas using this Agreement as the cornerstone, subject to mutual agreement of the parties. 
  

NOW, THEREFORE, in consideration of the mutual covenants set forth herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Elevance and Clariant hereby agree as follows. 
  
 1. Defined Terms. 
  
 Terms used herein with initial capital letters shall have the respective meanings set forth below in this Section 1 or as specified in the Agreement. The definitions of terms herein shall
apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. Except where expressly limited or otherwise stated to the
contrary, the words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as
the word “shall,” and vice versa. All costs and prices shall be in US dollars if not otherwise indicated. 
  

1.1 “Affiliate” means, with respect to a Party, a legal entity that Controls, is Controlled by, or is under common
Control with such Party. 

 [***] Indicates that text has been omitted which is the subject of a confidential treatment request. The
text has been separately filed with the Securities and Exchange Commission. 
  
 1.2 “Buyer” means Clariant or an Affiliate of Clariant that purchases Elevance Products pursuant to this Agreement. 

 
 1.3 “Clariant Product” means [***] either in
unaltered form or as part of a product formulation [***] that are sold and directly marketed by Clariant or a Clariant Affiliate into, and formulated for use in, the Field under Clariant’s own trademark. 

 
 1.4 “Confidential Information” means
(a) any confidential business information (including confidential information related to a Party’s or its Affiliates’ products, formulas, compositions, experimental work, customers, clients or suppliers) or other proprietary,
confidential or non-public information of a Party, its Affiliates or its or their directors, officers, employees, or customers or third parties to whom it owes a duty of confidentiality, and (b) the terms of this Agreement. 

 
 1.5 “Control” (including with correlative
meanings, the terms “Controlling,” and “Controlled by” and “under common Control with” means the possession directly or indirectly of the power to direct or cause the direction of the management and
policies of a legal entity, whether through the ownership of voting securities, by trust, management agreement, contract or otherwise; provided, however, that beneficial ownership of fifty percent (50%) or more of the voting stock
of such entity shall be deemed to be Control. 
  
 1.6
“Elevance Product” means [***]. 
  

1.7 “Elevance Product Price” means, with respect to a particular Elevance Product, the price to Clariant for such
Elevance Product as set forth on Exhibit C. 
  

1.8 “Executive Team” means a governance group of one (1) commercial representative from each of Elevance and
Clariant that shall have responsibility for strategic decisions related to this Agreement and that shall act as primary points of contact with respect to the Agreement as a whole and as the initial escalation contacts with respect to any dispute
hereunder. 
  
 1.9 “Field” means
[***]. 
  
 1.10 [***] meeting the Product
Specifications set forth in Exhibit B. 
  

1.11 “Indemnified Patent” means a patent issued or patent application in any of the following countries or jurisdictions:
the United States, the European Union, Japan, India, South Korea, China, Taiwan, Australia, Canada, and Brazil. 
  

1.12 “Intellectual Property” means inventions, patents, patent applications, patent disclosures, innovations,
improvements, formulae, materials, compositions, original works of authorship, software, databases, developments, concepts, methods, trade secrets, designs, trademarks, trade names, analyses, drawings, reports and all similar or related information
or developments (whether or not patentable or registrable under copyright, trademark or similar laws) and all intellectual property rights and similar rights therein under any jurisdiction in the world. 

 [***] Indicates that text has been omitted which is the subject of a confidential treatment request. The
text has been separately filed with the Securities and Exchange Commission. 
  
 1.13 “Minimum Volumes” means the minimum purchase commitment of Clariant for Elevance Products in a particular annual period as specified on Exhibit A. 

 
 1.14 “Non-analysis Agreement” means that
certain Non-Analysis Agreement entered into by and between Clariant Corporation, an Affiliate of Clariant, and Elevance, dated as of October 14, 2009. 
  

1.15 “Non-Disclosure Agreement” means that certain Mutual Confidentiality Agreement entered into by and between Elevance
and Clariant Corporation dated as of February 10, 2010. 
  
 1.16 “Party” means either Elevance or Clariant. 
  

1.17 “Patent Filing Date” means the date on which Clariant first files a patent application on the Permitted Claims, not
to be later than three (3) weeks after Effective Date of this Agreement. 
  
 1.18 “Permitted Claims” means claims for the use of [***] in product applications in the Field, but specifically excludes any claims for the process of [***]. 

 
 1.19 “Product Specifications” means the
specifications for each Elevance Product as set forth in Exhibit B. 
  
 1.20 “REACH” means the Regulation (EC) No. 1907/2006 of the European Parliament and of the Council concerning the Registration, Evaluation, Authorization and Restriction of
Chemicals. 
  
 1.21 “Sample” means
the Elevance sample(s) provided to Clariant Corporation or any Affiliate of Clariant under the Non-Analysis Agreement. 
  

1.22 [***] meeting the Product Specifications set forth in Exhibit B. 
  
 1.23 “Term” means the period from the Effective Date through the expiration or termination of
this Agreement in accordance with Article 12. 
  
 1.24 “Testing Methods” means those methods of testing the Elevance Products to conform that they conform to the applicable Product Specifications, as set forth in Exhibit B.

  
 2. Intellectual Property. 

 
 2.1 Existing Agreement. Clariant acknowledges and
agrees that the Non-Analysis Agreement prohibits the publication in any Intellectual Property right filing of any information associated with the Sample, the results of any tests or evaluations conducted by Clariant, or any information or materials
of Clariant derived from the Sample. In consideration of the Parties entering into this Agreement, and subject to the terms and conditions of this Agreement, Elevance shall release Clariant from the prohibition on publication to permit Clariant
and/or a Clariant Affiliate to make a patent filing solely as set forth in Section 2.2 below. 

 [***] Indicates that text has been omitted which is the subject of a confidential treatment request. The
text has been separately filed with the Securities and Exchange Commission. 
  
 2.2 Patent Filing. Elevance hereby consents to Clariant making a patent filing based on Clariant’s evaluation of the Sample in the Field solely with respect to the Permitted Claims. Prior to
making any patent filing, Clariant shall disclose to Elevance the patent application comprising the Permitted Claims in order to permit Elevance to verify that the patent application is limited to the Permitted Claims and to give Elevance a
reasonable opportunity to review and comment on such application. Elevance shall treat such applications and related documents as Confidential Information, except for such information in such applications and related documents that was known to
Elevance prior to disclosure by Clariant and provided that any such information that is subsequently disclosed in a published patent application shall ceases to be Confidential Information. Clariant shall not make any patent application filing with
respect to the Permitted Claims (whether an initial application, a subsequent application, any foreign counterpart application, or otherwise) without first obtaining the prior written consent of Elevance, such consent not to be unreasonably
withheld, conditioned, or delayed. The Parties shall coordinate and cooperate in good faith to identify the data, technical information and other details necessary to support Clariant’s patent application with respect to the Permitted Claims.
Clariant shall make a patent filing with respect to the Permitted Claims no later than three (3) weeks after the Effective Date of this Agreement. For the avoidance of doubt, Clariant may disclose certain information related to and limited to
the evaluation of the Sample solely as necessary to seek patent protection for Permitted Claims included in a patent application, in which case such information shall no longer be deemed Confidential Information. 

 
  2.3 Restriction on Seeking Additional Intellectual
Property Protection. Clariant shall not have the right to apply for, in any patent application, any claims or patentable subject matter or other Intellectual Property rights not included in the Permitted Claims, and Clariant shall continue to be
bound by the Non-Analysis Agreement with respect to all claims, publications and disclosures except those included in the Permitted Claims. Clariant hereby agrees, on behalf of itself and will procure its Affiliates, which have or had access to the
Sample, [***] or information derived therefrom, to be bound to the provisions of the Non-Analysis Agreement notwithstanding the fact that the Non-Analysis Agreement was entered into by an Affiliate of Clariant. Except as expressly permitted in
Section 2.1, Clariant shall not include in any publication or patent application or filing for protection of Intellectual Property rights, any information associated with the Sample, [***], the results of any tests or evaluations
conducted by Clariant with respect to the Sample, [***] or any information or materials of Clariant derived from the Sample, in whole or in part, directly or indirectly, without the express written authorization of Elevance. After the filing of the
patent application as set forth in Section 2.2 in the event that any claim in the patent application is found to be outside the Permitted Claims, the rights to any such claim outside the Permitted Claims will be held exclusively by
Elevance and Clariant hereby grants and shall grant to Elevance an exclusive, worldwide, perpetual, irrevocable, royalty-free, transferable, license, with the right to sublicense, to use, make, have made, sell, offer to sell, import, export, or
otherwise transfer any products in any field other than the Field, made under, or covered by, any such patent or patent application. Clariant may request, and Elevance shall not unreasonably refuse, to negotiate rights to such claim with Elevance,
but Clariant shall not have any right to exercise any rights with respect to such claim unless and until any such rights are granted by Elevance. The foregoing shall not in any way be construed, deemed, or argued to be an approval by Elevance of a
right of Clariant to seek protection or patenting of claims other than Permitted Claims or to otherwise permit Clariant to deviate from the required procedures for making a patent application and for seeking Elevance approval and comment as set
forth in Section 2.2. 

 
[***] Indicates that text has been omitted which is the subject of a confidential treatment request. The text has been separately filed with the Securities and Exchange Commission. 

 
 2.4 Additional Patents and Projects. If, as a result
of its analysis under the Non-Analysis Agreement or its permitted activities under this Agreement, Clariant identifies additional claims or potential Intellectual Property rights relating to or derived from the Sample or from the [***] supplied
hereunder in addition to the Permitted Claims and Clariant desires to seek patent protection for such claims or Intellectual Property rights, Clariant may provide notice thereof to Elevance, but shall not provide any information in connection
therewith without first obtaining the approval of Elevance. To the extent any such information is not covered as Elevance confidential information under the Non-Analysis Agreement and was not known to Elevance prior to disclosure by Clariant
hereunder, Elevance shall treat such information and any related documents as Confidential Information. To the extent any such information is governed by the terms of the Non-Analysis Agreement as information derived from the Sample, [***] for which
Clariant owes Elevance a duty of confidentiality, Clariant shall hold such information in confidence in accordance with the terms of the Non-Analysis Agreement. The Parties shall thereafter engage in good faith negotiations to add such additional
claims and/or Intellectual Property rights to the scope of this Agreement through a written amendment hereto, subject to mutually agreeable commercial terms related to product supply, volume commitments, commercial milestones, royalties or other
compensation, and such other commercial and legal terms as may be applicable with respect to such claims and/or Intellectual Property rights and corresponding products to be supplied by Elevance and/or commercialized by Clariant; provided, however,
that notwithstanding the foregoing, Elevance shall have the unilateral right to accept or reject any proposal by Clariant in its sole discretion. 
  

2.5 Sampling of Customers. Clariant or its Affiliates shall not provide samples of any Elevance Product without first obtaining
Elevance’s consent; provided, however, that Clariant and its Affiliates may provide such samples without first obtaining Elevance’s consent to any third party that is bound by a written agreement as attached as Exhibit F with
Clariant or its Affiliates. If Clariant is unable to secure a written agreement with a third party to which Clariant would like to provide samples of an Elevance Product, Clariant may provide notice thereof to Elevance and the Parties shall consider
in good faith any alternative mechanisms to ensure the protection of the Parties’ respective rights, interests, actual and potential Intellectual Property rights, and commercial plans and objectives. For the avoidance of doubt Clariant will not
be obligated to disclose customer names, addresses or other details under any circumstances. 
  
 2.6 Background Intellectual Property Rights. In case the Permitted Claims filed by Clariant in the Field are dependent on any Elevance-owned or licensed Intellectual Property rights related to the
composition or use of Elevance Product or any process to [***], Elevance agrees to not enforce such Intellectual Property rights against Clariant, its Affiliates or its customers in connection with the production or sale of any Clariant Product in
the Field that includes any Elevance Product. 

 [***] Indicates that text has been omitted which is the subject of a confidential treatment request. The
text has been separately filed with the Securities and Exchange Commission. 
  
 3. Supply and Purchase of Elevance Products. 
  
 3.1 Clariant Purchase Obligation and Resale Restrictions. Except as may be prohibited by applicable law in any particular jurisdiction, Clariant shall not intentionally, directly or indirectly,
use, resell or distribute Elevance Products (whether alone or in combination with other products, or as a component of another product) or product that is formulated or derived from Elevance Products outside of the Field. Elevance acknowledges and
agrees that a possible use of the Elevance Products in the value added chain cannot be controlled by Clariant and/or its Affiliates; provided, however, that, to the extent permitted by applicable law in any particular jurisdiction, (a) if
Clariant becomes aware of any downstream use, sale or distribution of the Elevance Products or product derived from Elevance Products outside of the Field by any person or entity, Clariant shall promptly provide notice thereof to Elevance, and
(b) Clariant shall, upon Elevance’s request, cease the sale or distribution of any Elevance Products or product derived from Elevance Products (in each case whether alone or in combination with other products, or as a component of another
product) to any person or entity that is, directly or indirectly, using, selling or distributing such Elevance Products outside of the Field. For avoidance of doubt, the foregoing restrictions and obligations shall not apply in any jurisdiction to
the extent complying with the same is prohibited by any applicable competition, antitrust, or other law in such jurisdiction. 
  

3.2 Minimum Purchase Obligation. Beginning on the Patent Filing Date, Clariant and/or its Affiliates shall use commercially
reasonably efforts to purchase the Minimum Volumes set forth on Exhibit A from Elevance for the corresponding period from the Patent Filing Date specified on Exhibit A and Elevance shall use commercially reasonable efforts to supply
such Minimum Volumes. No later than [***], the Parties shall meet through their respective Executive Team members to discuss and agree upon the Minimum Volumes to be in effect after [***]. In determining the Minimum Volume commitment for periods
after [***], the Parties shall assess and consider the market acceptance for Elevance Products and/or Clariant Products in the Field, with an anticipated target for Clariant to achieve a significant market share within the Field by the third
anniversary of the Patent Filing Date. 
  
 3.3
Buyer Forecasting. By the first day of each calendar quarter after the Patent Filing Date, Buyer will provide to Elevance forecasts of its anticipated requirements for the Elevance Products for the following twelve (12) months (on a
rolling twelve (12) month basis), with a month-by-month breakdown. Elevance shall use commercially reasonable efforts to supply to Buyer volumes of Elevance Products based on such forecasts, but Elevance shall not be obligated to supply
forecasted amounts in any month that exceed one-sixth (1/6) of the average volume of Elevance Products for the prior twelve (12) month period; provided that Elevance shall use commercially reasonable efforts to meet such forecasted amounts
in excess of such average volumes if Buyer provides at least sixty (60) days prior written notice to Elevance. Forecasts are a good faith estimate of Buyer’s requirements for planning purposes only and are not a commitment to purchase by
Buyer until such time as Buyer issues a purchase order for the Elevance Products. Elevance shall not unreasonably refuse or delay acceptance of purchase orders that are consistent with and/or meeting reasonable commercial principles, including
adhering to the forecast provisions set forth above. Elevance shall use commercially reasonable good faith efforts to meet the forecasted volumes and the Parties shall communicate regularly regarding Buyer’s anticipated and actual requirements
for Elevance Products. Orders that are not supplied, not accepted or that are refused by Elevance but that are consistent with and/or meeting acceptable commercial principles and terms, including adhering to the forecast provisions set forth above,
product specifications, shipment delivery lead time, pricing targets and expectations, etc; shall be deemed to have been purchased and shall be counted towards Minimum Volumes. 

 
[***] Indicates that text has been omitted which is the subject of a confidential treatment request. The text has been separately filed with the Securities and Exchange Commission. 

 
 3.4 Product Specifications. The Elevance Products
shall be delivered in accordance with Section 5.1, and shall conform to the Product Specifications in Exhibit B. 
  

4. Pricing and Payment. 
  

4.1 Price of Elevance Products. Buyer will purchase Elevance Products at the corresponding Elevance Product Prices agreed to by the
Parties, which prices shall be set forth in Exhibit C upon agreement of the Parties and shall be subject to adjustment as set forth in Exhibit C. Elevance Product Prices for all orders shall be the price in effect at the time of the
purchase order and will, independent of the applicable Incoterm, include the packaging and/or transportation costs specified in Exhibit C if any. For purchases beyond the initial [***] of Elevance Product, which shall be provided by Elevance
to Clariant at the agreed price in Exhibit C the Parties shall work in good faith to determine and agree to appropriate pricing structure during the joint business planning phase of the collaboration. The Parties shall agree on this pricing
structure no later than three (3) months after the Effective Date of this Agreement and is anticipated to result in a long term Elevance Product Price targeted at [***] US$/kg, but in any event such price shall not exceed the price bands as per
Exhibit C (based on FOB, Incoterms 2010) at full commercial scale, where full commercial scale is projected to be overall production of [***] MT of Elevance Product per year split into monthly purchases in accordance with the forecasting and
ordering provisions specified herein; provided that the Parties acknowledge and agree that the price bands set forth in Exhibit C reflect certain assumptions regarding soy bean oil prices and that such bands will shift based on changes in soy
bean oil prices, which the Parties shall further discuss during the business planning phase. If the Parties are unable to agree upon pricing for Elevance Products by no later than three (3) months after the Effective Date of this Agreement,
Elevance shall be granted a license as described in Section 6.1. 
  
 4.2 Invoice Payment. Buyer shall make payment in United States dollars for the Elevance Products net at forty-five (45) days after bill of lading date of the applicable Elevance Products to
Buyer to the account specified below. 
  

			
	 Bank Name:
	 	[***]
	 Address:
	 	[***]
	 ABA:
	 	[***]
	 Account Name:
	 	[***]
	 Account #:
	 	[***]

  
 5. Delivery of Elevance Products.

  
 5.1 Delivery Terms. Shipping terms for
Elevance Product shall be as set forth in Exhibit C. The Incoterm designated for this transaction will be CFR (Incoterm 2010). 

 [***] Indicates that text has been omitted which is the subject of a confidential treatment request. The
text has been separately filed with the Securities and Exchange Commission. 
  
 5.2 Product Weights and Analysis. The weights and analysis of the Elevance Products delivered to Clariant will be the load-out weights and analysis as determined by Elevance or its designee, unless
in obvious error. 
  
 5.3 Purchase Orders.
Subject to Section 3.3, Buyer shall make all requests to deliver a quantity of the Elevance Products only by written purchase order issued by Buyer to Elevance at least sixty (60) days in advance of the requested shipment date. On
each purchase order, Buyer shall specify: (a) the quantity of the Elevance Product(s) to be delivered by Elevance to Buyer; and (b) the proposed delivery dates, with such dates to be finalized by the Parties at least forty-five
(45) days in advance of actual delivery dates. Notwithstanding anything herein to the contrary or based upon general commercial usage or custom, the terms and conditions of this Agreement will govern all Elevance Products sold by Elevance to
Buyer during the term of this Agreement and the terms and conditions of any purchase order issued by Buyer or invoice or order acknowledgement issued by Elevance will not alter, amend, or override this Agreement. In the event of any conflict between
any term or condition of this Agreement, on the one hand, and any term or condition of any purchase order, order acknowledgement or invoice, on the other hand, the applicable term or condition of this Agreement shall control, and the Parties may not
amend this Agreement through any purchase order, order acknowledgement or invoice. 
  
 6. Failure to Meet Clariant Requirements. 
  
 6.1 Consequence of Failure. If, at any time during the Term, Clariant and its Affiliates (except in cases of excused performance pursuant to Section 13 or failures resulting from
Elevance failure to supply Elevance Product hereunder in accordance with its obligations to meet forecasted amounts) or to the extent resulting from Elevance negligence or willful misconduct, fails to meet the Minimum Volume purchase requirements
for purchase of Elevance Products set forth in Exhibit A for the time period specified in Exhibit A then Clariant shall in each case have a period of thirty (30) days to propose a remedy to the Executive Team and, if the Executive
Team (by mutual agreement of the Parties) agrees to the proposed remedy or if the Parties mutually agree to an alternative remedy in such thirty (30) day period, then Clariant shall have an additional thirty (30) days to implement the
agreed-upon remedy and remedy its failure. If Clariant fails to remedy such failure within the additional thirty (30) day period in the preceding sentence or if the Parties (through the Executive Team) fail to mutually agree upon a remedy in
the initial thirty (30) day period notwithstanding commercially reasonable efforts to do so, then, Elevance will have the right to exercise rights under the license granted in Exhibit G (which rights may subsequently be set forth in a
further separate license agreement in accordance with Exhibit G in respect to any patent or patent application issued or filed with respect to the Permitted Claims. For the avoidance of doubt, the right to exercise such license shall be the
only remedy Elevance shall have in the event of occurrence of the above mentioned circumstances. In addition, if the Parties are unable to agree upon new Minimum Volume commitments to be in effect for periods after [***], if the Parties elect not to
renew or extend the Agreement (or are unable to agree to an extension or renewal) as set forth in Section 12.1 upon the expiration of the then-current term of the Agreement, or if Elevance elects not to take ownership of any patent or
patent application as set forth in Section 6.2, then Elevance will have the right to exercise rights under the license granted in Exhibit G in respect to any patent or patent application issued or filed with respect to the Permitted
Claims; provided that Elevance cannot exercise such license rights until a condition in either of the preceding two sentences is met. To the extent the Parties 

			
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  dispute whether any such condition has
been met, the Parties shall address such dispute through the procedures specified in Article 14 and any exercise of the license prior to the time the matter is resolved shall be at Elevance’s risk. 

 
 6.2 Clariant Abandonment of Marketing. If Clariant
decides to cease marketing of (or development of markets for) Clariant Products hereunder, Clariant shall provide notice thereof to Elevance. In addition, if it appears to Elevance that Clariant has ceased marketing of (or development of markets
for) Clariant Products or has materially minimized its marketing (or development of markets) efforts, Elevance may seek assurances from Clariant that it intends to continue with such marketing (or development of markets). If Clariant
(a) provides notice of cessation of marketing (or development of markets) to Elevance, (b) responds to an Elevance notice with an indication that it does not intend to continue marketing, or (c) exercises its right to terminate this
Agreement pursuant to Section 12.2, then Clariant shall, at Elevance’s option, assign to Elevance its entire right, title and interest in and to, any and all patents and patent applications that include Permitted Claims and shall
transfer copies of all prosecution files, invention disclosures and inventor notes, and other materials as necessary for Elevance to assume the ownership, prosecution, maintenance, and enforcement of such patents and patent applications. In
consideration of the foregoing, Elevance shall reimburse Clariant for all of Clariant’s or its Affiliates’ documented, third party, out-of-pocket costs incurred in connection with or relating to the patent or patent applications, in
particular in connection with filing and maintaining any such patents and patent applications, including attorney’s fees, filing fees, and maintenance fees. If there is any dispute as to whether Clariant has abandoned marketing for purposes of
this Section 6.2 the Parties shall escalate the dispute pursuant to the procedures specified in Article 14. If Elevance elects not to take assignment of any such patents or patent applications as set forth in this Exhibit
G. Elevance shall be entitled to exercise the license rights set forth in Exhibit G with respect to such patent and patent applications, but such license shall be an exclusive license and Elevance shall reimburse Clariant for all of
Clariant’s or its Affiliates’ documented, third party, out-of-pocket costs incurred in connection with or relating to the patent or patent applications, in particular in connection with filing and maintaining any such patents and patent
applications, including attorney’s fees, filing fees, and maintenance fees. Notwithstanding the foregoing and for the avoidance of doubt, Clariant is not obligated to maintain and uphold any such patents or patent applicants. If Clariant
decides to cease the marketing of (or development of markets for) Elevance Products hereunder, Clariant shall, upon Elevance’s request, not unreasonably refuse to sell its customer data in respect of the Elevance Products on mutually agreed
terms. 
  
 6.3 Clariant Abandonment of
Patents. If Clariant decides to abandon any issued patent or patent application that includes Permitted Claims, Clariant shall provide notice thereof to Elevance. Upon such notice, Elevance shall have a period of thirty (30) days to elect
to have Clariant assign its rights in any such patent or patent application to Elevance. If Elevance elects to have Clariant so assign its rights, then Clariant shall, upon Elevance’s notice, assign to Elevance its entire right, title and
interest in and to, any and all such patents and patent applications that include Permitted Claims and shall transfer copies of all prosecution files, invention disclosures and inventor notes and other materials with respect to such Permitted
Claims, patents, and patent applications, in each case to the extent reasonably necessary for Elevance to assume the ownership, prosecution, maintenance, and enforcement of such patents and patent applications. Elevance shall be responsible for
costs incurred with respect to any such 

			
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  patent or patent application from the
date of assignment, but shall not be required to reimburse Clariant for any costs or expenses incurred in connection with prosecuting, filing, maintaining or enforcing any such patents and patent applications incurred by or on behalf of Clariant
prior to the date of assignment. Upon assignment of any such patent or patent application, Elevance shall grant to Clariant a worldwide, perpetual, irrevocable, royalty-free, transferable, nonexclusive license, with the right to sublicense, to use,
make, have made, sell, offer to sell, import, export, or otherwise transfer any Clariant Products in the Field, made under, or covered by, any such patent or patent application. Such license shall automatically be exercisable upon assignment. In
addition, to allow Clariant to exercise such license, Elevance shall not refuse to supply Elevance Products to Clariant and/or its Affiliates on mutually agreed upon commercially reasonable terms and shall not unreasonably withhold or delay
acceptance of purchase orders. 
   
 7. Regulatory
Compliance. 
  
 7.1 Product Registrations.
Elevance has obtained necessary chemical inventory or other registrations or authorizations for Elevance Products for the countries and regions designated under “Registrations Obtained” in Exhibit E for the corresponding volumes set
forth therein. Elevance shall use commercially reasonable efforts to obtain necessary chemical inventory or other registrations or authorizations for Elevance Products for such countries and regions designated under “Registrations to be
Obtained” in Exhibit E for the corresponding volumes set forth therein. Notwithstanding anything to the contrary in this Agreement, Elevance shall not be required to supply Elevance Products to any countries or regions not specified in
Exhibit E. If Clariant identifies additional countries or regions not included in Exhibit E to which Clariant would like Elevance to ship Elevance Products, Clariant may provide notice thereof to Elevance, and the Parties will
reasonably cooperate and coordinate to seek registrations or authorizations in Elevance’s name as necessary for Elevance to ship Elevance Products to the applicable country or region. Clariant shall obtain, at its expense, all other necessary
chemical inventory or other registrations or authorizations to sell, export, import, process, or use for commercial purposes the Clariant Products in all countries or regions into which Clariant sells the Clariant Products. The Parties shall
coordinate and cooperate with respect to regulatory filings for registrations and authorizations for their respective products to minimize overlap and duplication of fees and efforts and to seek registrations and authorizations in the name of the
Party best-positioned to utilize the applicable registrations and authorizations under this Agreement and across its business generally. In order to assist Elevance in its regulatory compliance program and without limiting anything in the foregoing,
Clariant shall promptly notice Elevance of each country or jurisdiction into which Clariant exports, sells, or distributes any Elevance Product or Clariant Product. 

 
 7.2 Other Regulations. Elevance and Clariant agree
that the supply of raw materials, labels, safety data sheets and packaging components, the manufacturing and processing of the Elevance Products and Clariant Products, the transportation of the Elevance Products and Clariant Products, as well as the
marketing of the Clariant Products, will be carried out in full compliance with all applicable national, federal, state and local laws and regulations including health, safety and environmental laws and regulations, and that it is each Party’s
responsibility to see that full compliance is maintained in performing its respective duties under this Agreement and with respect to its products. The Parties shall develop a regulatory compliance plan with 

			
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  respect to the Elevance Products and the
Clariant Products and shall communicate with one another throughout the Term with respect to the implementation of such plan and the Parties’ respective compliance actions and responsibilities. Proper disposal of all waste as required by
applicable law is specifically included as part of each Party’s duty under this Agreement. 
  
 7.3 REACH. Elevance has evaluated the Elevance Products under REACH and has concluded that the Elevance Products do not require registration because of polymer and naturally occurring exemptions
provided under REACH. Elevance shall comply with REACH. Elevance has appointed and will maintain an Only Representative (OR) within the meaning of REACH to the extent necessary to comply its obligations under REACH for the Term of this Agreement.

   
 8. Confidential Information. 

 
 8.1 Duty of Confidentiality. Each Party acknowledges
that it may acquire Confidential Information of the other Party in connection with its performance of its obligations set forth in this Agreement. Any Party disclosing Confidential Information hereunder shall clearly mark such Confidential
Information using words such as “confidential” or “proprietary” or other words clearly indicating its confidential nature and, with respect to Confidential Information disclosed orally, shall provide a written summary of such
Confidential Information and confirm the confidential nature of any such Confidential Information in writing within thirty (30) days of its disclosure. Each Party shall hold all Confidential Information of the other Party in confidence, using
the same degree of care to prevent unauthorized disclosure or access that it uses with its own confidential information of similar type (but in no event using less than a reasonable degree of care), and shall not disclose such Confidential
Information to others, allow others to access it, or use it in any way, commercially or otherwise, except, if necessary, in furtherance of performing its obligations under this Agreement and only to the extent they need to know; provided,
however, that each Party (a) may disclose Confidential Information to its Affiliates and to its and their attorneys, accountants and other confidential advisors who need to know such information for the purpose of assisting such Party in
connection with the transactions contemplated herein or the subject matter hereof that are bound by a duty of confidentiality of even scope herewith, and (b) disclose the terms and conditions of this Agreement and any pricing or financial
information related hereto to a purchaser or potential purchaser that is not a competitor of the other Party seeking to purchase all or substantially all of the business of such Party to which this Agreement relates provided that the purchaser or
potential purchaser is bound by a duty of confidentiality of even scope herewith and provided further that if the purchaser or potential purchaser has any ownership interest in a competitor, such purchaser or potential purchaser shall be prohibited
from disclosing the terms and conditions of this Agreement and any pricing or financial information to such competitor. The receiving Party shall not use Confidential Information received from the disclosing Party without the consent of the
disclosing Party for acquiring any Intellectual Property rights, which consent may be granted or withheld in the disclosing Party’s sole discretion. 

			
	 Confidential
	 	EXECUTION VERSION

  
 8.2 Exclusions.
Confidential Information shall not include information if and to the extent the receiving Party can prove such information: 
  

	 	(a)	 	is or becomes known to the public other than by disclosure by the receiving Party in violation of this Agreement; 

 

	 	(b)	 	was known to the receiving Party previously, without a duty of confidentiality; 

 

	 	(c)	 	was independently developed by the receiving Party outside of this Agreement and without reference to or use of any Confidential Information of the disclosing Party; or

  

	 	(d)	 	was rightfully obtained by the receiving Party from third parties without a duty of confidentiality. 

 
 8.3 Permitted Disclosure. If a Party is requested to
disclose all or any part of any Confidential Information of the other Party under a discovery request, a subpoena, or inquiry issued by a court of competent jurisdiction or by a judicial, administrative, regulatory or governmental agency or
legislative body or committee, the Party so requested shall, to the extent practicable and subject to applicable laws, give prompt written notice of such request to such other Party and shall give such other Party the opportunity to seek an
appropriate confidentiality agreement, protective order or modification of any disclosure or otherwise intervene, prevent, delay or otherwise affect the response to such request and the receiving Party shall, at such other Party’s expense,
cooperate in such efforts. 
  
 8.4
Information. Upon termination or expiration of this Agreement, or upon request by the disclosing Party at any time with respect to particular Confidential Information not required by the receiving Party to perform such receiving Party’s
obligations under this Agreement, the receiving Party shall (a) return to the disclosing Party all Confidential Information disclosed by such disclosing Party hereunder and all copies thereof that are in the receiving Party’s possession or
control, and (b) delete from its computers, databases, and servers any electronic copies of all such Confidential Information to the greatest extent practically possible using reasonable efforts; provided, however, that
(i) each Party may retain one (1) copy of any Confidential Information for its internal legal files or the files of its outside counsel, and (ii) the foregoing shall not require a receiving Party to return any Confidential Information
that comprises any Intellectual Property rights solely or jointly owned by such receiving Party. 
  
 8.5 Publicity. Neither Party shall, without the prior written consent of the other Party or except as otherwise expressly permitted: (a) use in advertising, publicity, or otherwise in
connection with the Clariant Products, any trade name, trademark, trade device, service mark, or symbol owned by the other Party; or (b) represent, either directly or indirectly, that any product or service of the other Party is a product or
service of such Party, or vice versa. Notwithstanding the foregoing, each Party shall have the right to disclose the existence of the Parties’ relationship under this Agreement to extent such disclosed information has been part of an agreed on
press release as set forth below. It is the Parties’ intent to jointly develop and make public a mutually agreed-upon press release concerning their relationship under this Agreement, and each Party shall work with the other in good faith to
develop and approve such press release, provided at all times that such press release is subject to the prior written consent of the other Party. 

			
	 Confidential
	 	EXECUTION VERSION

  
 8.6 Confidentiality of
Product Specifications. Without limiting anything in this Article 8 or in the definition of Confidential Information, the Parties acknowledge and agree that the Product Specifications designated as “Confidential Specifications”
in Exhibit B are Intellectual Property and Confidential Information of Elevance, but that the Product Specifications designated as “Non-Confidential Specifications” in Exhibit B may be disclosed, without any condition
attached thereto, within any business relationship Buyer intends to enter into in regard to the Elevance Products and Clariant Products. 
  

8.7 Survival. The provisions of this Article 8 shall survive any expiration or termination of this Agreement. 

 
 9. Representations and Warranties of the Parties. 

 
 9.1 Authority. Each Party hereby represents and
warrants to the other that such Party has full power and authority to enter into this Agreement, to carry out such Party’s obligations hereunder, and to grant the rights set forth herein, and that the provisions set forth in this Agreement
constitute legal, valid, and binding obligations of such Party enforceable against such Party in accordance with their terms, subject to applicable laws. 
  

9.2 Elevance Products. Elevance hereby represents and warrants that: (a) Elevance has evaluated the safety of its production
and use of the Elevance Products, but that it has not evaluated the safety of the Elevance Products for use in the Field or for use in Clariant Products in the Field, (b) the Elevance Products shall conform to the Product Specifications when
tested in accordance with the Testing Methods; (c) Elevance shall be responsible for the accuracy, completeness and correctness of all product information contained or required to be contained on any label, printed package or container for the
Elevance Products, (d) Elevance has evaluated the Elevance Products under REACH and has determined that the Elevance Products do not require registration; (e) the monomer substance contained in the Elevance Products does not require
registration under REACH; (f) Elevance has and will comply with REACH in all aspects; and (g) Elevance has appointed and will keep appointed an Only Representative. 

 
 9.3 Clariant Products. Clariant hereby represents and
warrants that: (a) Clariant has evaluated the safety of its use of, or subsequent use or sale of, the Clariant Products in the Field or the Elevance Products sold by Clariant for use in the Field and, except as otherwise provided in this
Agreement, assumes all risks and liabilities for any loss, damage or injury to persons or property, resulting from the use or subsequent sale of the Clariant Products in the Field or the Elevance Products sold by Clariant for use in the Field;
(b) Clariant shall be responsible for the accuracy, completeness and correctness of all product information contained or required to be contained on any label, printed package or container for the Clariant Products; and (c) Clariant will
comply with all applicable laws and regulations and obtain any necessary regulatory approvals or permits in connection with the Clariant Products to the extent not already required for the Elevance Products. 

			
	 Confidential
	 	EXECUTION VERSION

  
 9.4 Disclaimer of Certain
Warranties. TO THE MAXIMUM EXTENT PERMISSIBLE IN LAW, EXCEPT FOR THE WARRANTIES SPECIFICALLY SET FORTH IN THIS ARTICLE 9 EACH PARTY DISCLAIMS ALL OTHER EXPRESS AND IMPLIED WARRANTIES WITH RESPECT TO THE ELEVANCE PRODUCTS AND THE CLARIANT
PRODUCTS INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT OF THIRD PARTY INTELLECTUAL PROPERTY RIGHTS. 
  

9.5 Inspection and Remedies. Buyer shall only be obligated to validate actual delivery quantities or transport damages occurred
during transportation within ten (10) days after acceptance of delivery and shall request short shipment credits in a timely manner. Elevance shall deliver Elevance Products together with certificates of analyzes and Buyer shall not be
obligated to perform testing of Elevance Products of such Elevance Products to assess whether such Elevance Products conform to the applicable Product Specifications; provided, however, that Elevance shall only be liable or responsible for any
claims that the Elevance Products do not conform to the applicable Product Specifications for a period of three hundred sixty-five (365) days after delivery to Buyer. During the period of three hundred sixty-five (365) days after delivery
of Elevance Product to Buyer by Elevance, Buyer may reject any Elevance Products that fail to meet the requirements of this Agreement prior to any modifications to the Elevance Product. Upon rejection, Buyer shall have the right to take the
following actions, at Buyer’s option: 
  

	 	(a)	 	retain the non-conforming Elevance Products in whole or in part with an appropriate adjustment in the price for the Elevance Products as mutually agreed upon by the
Parties, in which case Buyer shall waive any further claims or liabilities with respect to such Elevance Products being non-conforming but in which case such Elevance Products shall count towards the Minimum Volume commitments hereunder;

  

	 	(b)	 	replace the non-conforming Elevance Products in whole or in part at Elevance’s sole expense, including all shipping and transportation costs; or

  

	 	(c)	 	return the Elevance Products to Elevance at Elevance’s sole expense (or, at Elevance’s option and expense, destroy or dispose of such Elevance Products with a
certification of the same to Elevance) with a full refund by Elevance to Buyer of the applicable purchase price of such Elevance Products, in which case such Elevance Products shall not count towards the Minimum Volume Commitments hereunder;

  
 Buyer shall hold rejected goods at its risk and
expense for a maximum of forty-five (45) days, after which time the rejected goods will be, at Elevance’s option, returned (or disposed of) at Elevance’s risk and expense. No rejected goods shall be replaced by Elevance until Buyer
expressly so requests in writing. 

			
	 Confidential
	 	EXECUTION VERSION

  
  10. Indemnification. 

  
 10.1 Indemnification by Clariant. Clariant or its
respective Affiliate, as applicable, shall defend, indemnify and hold harmless Elevance and its Affiliates and its and their officers, directors, employees and legal representatives from all claims, judgments, damages, liabilities, actions, demands,
costs, expenses, or losses of whatsoever nature, including reasonable attorneys’ fees and costs, to the extent resulting from, arising out of, or in connection with, any third party claim arising out of or related to: (a) any product
liability claim or other claim related to the Clariant Products, including any claim relating to Buyer’s storage, handling, transportation, marketing, sale or resale, use or disposal of the Clariant Products; (b) any product liability
claim or other claim related to the repackaging as such or relabeling of Elevance Products by or on behalf of Clariant; (c) any claim resulting from Clariant’s or any Buyer’s refusal or failure to use commercially reasonable good
faith efforts to withdraw or recall Clariant Products in a timely fashion after Elevance and Clariant have agreed that any of the Clariant Products need to be recalled or otherwise withdrawn; (d) any claim resulting from any Buyer’s export
or sale, directly or indirectly, of any Elevance Product or Clariant Products into any country or jurisdiction where Elevance has not obtained applicable product registrations or approvals with respect to Elevance Products or where Clariant has not
obtained applicable product registrations or approvals with respect to Clariant Products to the extent the Clariant Products need other registrations than the Elevance Products; (e) any gross negligence or willful misconduct of Clariant or any
Buyer; (f) any claim that the Clariant Products infringe or misappropriate the Intellectual Property rights of any third party; provided, however, that the foregoing indemnification obligation shall not apply to the extent the
actual or alleged infringement is of an Indemnified Patent resulting from any Elevance Products; or (g) any violation of any statute, ordinance, or regulation by Clariant or any Buyer. 
  
 10.2 Indemnification by Elevance. Elevance shall defend, indemnify and hold harmless Clariant and its
Affiliates and its and their shareholders, officers, directors, employees and legal representatives from all claims, judgments, damages, liabilities, actions, demands, costs, expenses, or losses of whatsoever nature, including reasonable
attorneys’ fees and costs, to the extent resulting from, arising out of, or in connection with, any third party claim arising out of or related to: (a) any product liability claim or other claim related to the Elevance Products not
conforming to the Product Specifications as set forth herein, including any such claim relating to Elevance’s storage, handling, transportation, marketing, sale or resale, use or disposal of the Elevance Products; (b) any gross negligence
or willful misconduct of Elevance; (c) any claim resulting from Elevance’s refusal or failure to use commercially reasonable good faith efforts to withdraw or recall Elevance Products in a timely fashion when Elevance and Clariant have
reasonably agreed that such Elevance Products need to be recalled or otherwise withdrawn; (d) any claim of infringement or misappropriation of any Indemnified Patent or any Intellectual Property rights of any third party with respect to
manufacture or sale of the Elevance Products ordered; provided, however, that the foregoing indemnification obligation shall not apply (i) to the extent the actual or alleged infringement results from any combination of the
Elevance Product with any other material or any modification to the Elevance Product, or (ii) in the event of the sale or distribution of any Elevance Product, directly or indirectly, by Clariant or its Affiliates or any of its customers into
any country not included on Exhibit E at the time such sale 

			
	 Confidential
	 	EXECUTION VERSION

  
 or distribution is made, irrespective of
whether the applicable country is one that is included in the definition of Indemnified Patents; (d) any violation of any statute, ordinance, or regulation by Elevance; or (e) any claim resulting from Elevance’s failure to obtain or
maintain to registrations listed in Exhibit E in accordance with Elevance’s obligations under this Agreement, or (f) any claim resulting from Elevance’s failure to comply with REACH and any costs Clariant or its Affiliates
might incur due to REACH registration in its own name resulting from such failure. 
  
 10.3 Indemnification Procedures. A Party seeking indemnification under this 10 shall promptly notify the other Party in writing of any action, claim or liability in respect of which such Party or
any related indemnified party intends to claim such indemnification. The Party seeking indemnification shall permit, and shall cause its related indemnified parties to permit, the indemnifying Party to settle any such action, claim or liability and
agrees to the control of such defense or settlement by the indemnifying Party; provided, however, that such settlement does not adversely affect the indemnified Party’s (or any related indemnified party’s) rights hereunder or
impose any obligations on the indemnified Party or any related indemnified party in addition to those set forth herein. The indemnified Party shall not settle any such action, claim or liability without the prior written consent of the indemnifying
Party, and the indemnifying Party shall not be responsible for any attorneys’ fees or other costs incurred other than as provided herein. The indemnified Party and its related indemnified parties and their respective employees and legal
representatives, shall cooperate reasonably with the indemnifying Party and its legal representatives in the investigation and defense of any action, claim or liability covered by this Article 10 An indemnified Party shall have the right, but
not the obligation, to be represented by counsel of its own selection and at its own expense for purposes of being advised as to the status or resolution of any claim, in which case the indemnifying Party shall consider in good faith the views of
the indemnified Party and its counsel and shall keep the indemnified Party and its counsel reasonably informed of the progress of the defense, litigation, arbitration, or settlement discussions relating to the applicable claim. 

 
 10.4 Mitigation. Each Party shall use reasonable
commercial efforts to mitigate any damages incurred by it on account of a third party claim subject to indemnification hereunder. 
  

10.5 Insurance. Each Party shall maintain comprehensive general liability insurance, including products liability and contractual
liability with a highly rated international insurance company, with a minimum limit of US $5,000,000. On request each Party shall provide the other with a certificate of insurance as evidence of coverage. 

 
 11. Limitations of Liability and
Disclaimers. 
  
 11.1 Limitation on
Damages. The liability of each Party and its Affiliates and its and their respective directors, officers, employees, subcontractors, legal representatives, successors, or assigns to the other Party and its Affiliates and its and their respective
directors, officers, employees, subcontractors, representatives, successors, or assigns for actual damages (whether a claim therefore is based on warranty, contract, tort (including negligence or strict liability), statute, or otherwise) connected
with or arising or resulting from any performance or nonperformance of obligations under this Agreement or otherwise related to this Agreement shall be limited to the aggregate amounts paid to Elevance by Clariant and its Affiliates for purchases of
Elevance Products in the twelve (12) months immediately preceding the occurrence of the 

			
	 Confidential
	 	EXECUTION VERSION

  
 event leading to a Party’s claim for
damages (or the annualized aggregate amount paid for Elevance Products in the event that twelve (12) months have not elapsed in the Term when a claim is made). Notwithstanding the foregoing, the foregoing limitation on damages shall not apply
to amounts refunded by Elevance to any Buyer hereunder; provided that refunded amounts shall not count towards the calculation of amounts paid by Clariant and its Affiliates to Elevance for purposes of calculating the foregoing liability cap.

  
 11.2 Exclusion of Certain Damages. IN NO
EVENT SHALL EITHER PARTY OR ITS AFFILIATES OR ITS OR THEIR RESPECTIVE, DIRECTORS, OFFICERS, EMPLOYEES, REPRESENTATIVES, SUCCESSORS, OR ASSIGNS BE LIABLE TO ANY OTHER PARTY, OR ITS DIRECTORS, OFFICERS, EMPLOYEES, AFFILIATES, FOR, AND EACH PARTY
HEREBY EXPRESSLY WAIVES RIGHTS TO, ANY INDIRECT, ECONOMIC, SPECIAL, INCIDENTAL, EXEMPLARY, PUNITIVE, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS, LOSS OF BUSINESS REVENUE OR EARNINGS, LOSS OF USE, LOSS OF DATA, LOSS OF SAVINGS, LOSSES BY REASON
OF COST OF CAPITAL, OR A FAILURE TO REALIZE EXPECTED SAVINGS) DIRECTLY OR INDIRECTLY ARISING OUT OF, OR IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED BY, THIS AGREEMENT, WHETHER OR NOT SUCH DAMAGES COULD REASONABLY BE FORESEEN OR THEIR LIKELIHOOD
HAS BEEN DISCLOSED TO THE OTHER PARTY, AND REGARDLESS OF WHETHER A CLAIM IS BASED ON CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE OR STRICT LIABILITY), VIOLATION OF LEGAL OR EQUITABLE PRINCIPLE. 

 
 11.3 Exceptions. The limitation of liability set forth
in Section 11.1 shall not apply to Clariant’s obligation to make any payments to Elevance for Elevance Products or Elevance’s obligation to make any royalty payments under licenses granted. The limitations of liability in
Section 11.1 and the exclusion of certain damages in Section 11.2 shall not apply to: (a) the indemnification obligations set forth in Article 10; (b) liabilities (including any related indemnification
obligations) caused by, or arising from, a Party’s gross negligence, willful misconduct, intentional breach, fraudulent misrepresentation, fraud or violation of law; (c) either Party’s breach of its confidentiality obligations set
forth in Article 8; or (d) Clariant’s breach of Section 2.3. 
  
 12. Term and Termination. 
  
 12.1 Term. This Agreement shall commence as of the Effective Date and, unless sooner terminated pursuant to any of the grounds of termination specified below, shall expire on the date that is three
(3) years after the Patent Filing Date; provided, however, that the Parties shall meet no later than ninety (90) days before each anniversary of the Patent Filing Date to discuss extension or renewal and may, by mutual
agreement, extend the term for a renewal period of no less than one (1) year at least ninety (90) days prior to the expiration of the initial three (3) year term or any renewal term. This Agreement shall in any event terminate on the
date that is five (5) years after the Patent Filing Date. If the Parties agree not to extend the term of this Agreement prior to its expiration or are unable to agree on renewal terms, or a renewed agreement, Elevance will have the right to
exercise rights under the license granted in Exhibit G provided always that Elevance shall not unreasonably refuse to sell Elevance Products to Clariant and/or its Affiliates on mutually agreed upon commercially reasonable terms should they
request such supply at a later date. 

			
	 Confidential
	 	EXECUTION VERSION

  
 12.2 Elective
Termination. Subject to Section 6.2 (with respect to Clariant’s elective termination), either Party may elect to terminate this Agreement at any time during the Term by providing at least six (6) months prior written notice
to the other Party. 
  
 12.3 Termination for
Cause. Either Party may terminate this Agreement if the other Party commits a material breach of this Agreement and fails to cure such breach within thirty (30) days of receipt of written notice of such breach by the non-breaching Party. In
addition, either Party may terminate this Agreement with written notice with immediate effect if: (a) the other Party (i) files for bankruptcy, (ii) becomes or is declared insolvent, (iii) is the subject of any proceedings
related to its liquidation, insolvency or the appointment of a receiver or similar officer for it, or (iv) makes an assignment of all or substantially all of its assets or properties for the benefit of its creditors. 

 
 12.4 Survival. The obligations of the Parties under
this Agreement that the Parties have expressly agreed shall survive termination or expiration of this Agreement or that, by their nature, would continue beyond the expiration or termination of this Agreement, shall survive the expiration or
termination of this Agreement for any reason. Without limiting the generality of the foregoing, the licenses granted under Article 6 or Section 12.1 (to the extent a condition to exercise such licenses have been met) shall survive
the expiration or termination of this Agreement. 
  

12.5 Remedies Cumulative. The election by a Party to terminate this Agreement in accordance with its terms will not be deemed an
election of remedies, and all remedies provided by this Agreement shall be cumulative and shall survive any termination or expiration. 
  

13. Force Majeure Events. 
  

If the performance of this Agreement or any obligations under this Agreement, except the making of required payments, is prevented,
restricted, or interfered with by reason of fire, flood, explosion, or other casualty, accident, or act of God; strikes; war, whether declared or not, sabotage; any law, order, proclamation, regulation, ordinance, demand, or requirement of any
government agency; or any other event beyond the reasonable control of the Parties, the affected Party, upon giving prompt notice to the other Party, shall be excused from such performance to the extent of such prevention, restriction, or
interference. The affected Party shall use its reasonable efforts to avoid or remove such cause of non-performance or to limit the impact of the event on such Party’s performance and shall continue performance with the utmost dispatch whenever
such causes are removed. 
  
 14. Dispute Resolution.

  
 14.1 Escalation. The Parties shall first
attempt to resolve any dispute relating to this Agreement within the Executive Team, the members of which shall work together in good faith to resolve any such dispute. If the Executive Team is unable to resolve any dispute after good faith efforts
to do so or after agreeing that the dispute should be resolved by senior management, the Executive Team shall escalate such dispute to one (1) senior manager of each party, which senior managers shall promptly work together in good faith to
resolve such dispute. 

			
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	 	EXECUTION VERSION

  
 14.2 Arbitration. If
the Parties are unable to resolve any dispute relating to this Agreement by negotiation or mediation under Section 14.1 either Party may submit such dispute to binding arbitration administered by the International Chamber of Commerce and
each Party hereby consents to such arbitration and waives any right to challenge the jurisdiction of an arbitration panel convened in accordance with the foregoing. All disputes arising out of or in connection with the present Agreement shall be
finally settled under the Rules of Arbitration of the International Chamber of Commerce by three (3) arbitrators appointed in accordance with the said Rules. The arbitration shall be heard and determined by a panel of three
(3) arbitrators, each of whom shall be a neutral and disinterested expert having reasonable experience and qualifications to arbitrate a dispute hereunder. The arbitration proceeding shall occur in London, United Kingdom. The resolution of the
arbitrator shall be final and binding on the Parties, without right of appeal. Notwithstanding the foregoing, in no event shall any arbitration award provide a remedy beyond those permitted under this Agreement, and any award providing a remedy
beyond those permitted under this Agreement shall not be confirmed, no presumption of validity shall attach, and such award shall be vacated. Materials exchanged or submitted under the arbitration and other information related to the arbitration
proceeding shall be Confidential Information of the disclosing Party. 
  
 14.3 Litigation; Equitable Relief. Notwithstanding Section 14.2, either Party may make a court filing or take whatever actions are necessary at any time to seek an injunction relief
where there is a likelihood of immediate and irreparable harm to its interests. 
  
 15. General. 
  
 15.1 Entire Agreement; Amendment. This Agreement is the entire agreement between the Parties with respect to the subject matter hereof, subject to Exhibit G (to the extent a separate license
agreement is entered into hereunder in accordance with the terms of Exhibit G), and supersedes all contemporaneous oral agreements and all prior oral and written quotations, communications, agreements, understandings of the Parties, and
written or oral representations of either Party with respect to the subject matter of this Agreement, including any proposals, letters of intent or similar communications between the Parties. Notwithstanding the foregoing, the Non-Analysis Agreement
and Non-Disclosure Agreement shall continue in full force and effect and shall govern and control with respect to all matters addressed therein except with respect to the supply of Elevance Products as covered by this Agreement. This Agreement shall
not be amended or modified except by a written instrument executed by an authorized representative of each Party. 
  

15.2 Notices. Any notice under this Agreement is to be sent by overnight courier or certified or registered mail, return receipt
requested, to the address specified below or such other address as the receiving Party specifies in writing, and will be effective upon its mailing as specified. 

 [***] Indicates that text has been omitted which is the subject of a confidential treatment request. The
text has been separately filed with the Securities and Exchange Commission. 
  

			
	 To Elevance :
	  	 Elevance Renewable Sciences Inc.
 175 E. Crossroads Parkway,
 Bolingbrook, Illinois 60440

Attn: [***]
 Ph: [***]

Fax: [***]

		
	 with a copy (which shall not constitute notice) sent to:
	  	 Elevance Renewable Sciences Inc.
 175 E. Crossroads Parkway,
 Bolingbrook, Illinois 60440

Attn: [***]
 Ph: [***]

Fax: [***]

  

			
	 To Clariant:
	  	 Clariant International AG

Rothausstrasse 61,
 CH4132 Muttenz

Switzerland
 Attn: [***]

Ph: CH: [***]; DE: [***]
 Fax:
[***]

		
	 with a copy (which shall not constitute notice sent to):
	  	 Clariant Produkte Deutschland GmbH
 Ludwig-Hermann-Str. 100
 D-86368 Gersthofen
 Attn: [***]
 Ph: [***]
 Fax: [***]

  
 15.3 Assignment. This
Agreement shall be binding on the Parties and their respective successors and permitted assigns. Neither Party may assign its rights or delegate its duties under this Agreement either in whole or in part without the prior written consent of the
other Party, which consent shall not be unreasonably withheld or delayed. Any attempted assignment or delegation without such consent will be void. Notwithstanding the foregoing, each Party shall have the right to assign this Agreement without first
obtaining the consent of the other Party to (a) an Affiliate, and (b) to a purchaser or successor in connection with a merger, reorganization, or sale (whether by sale of assets, stock or other ownership interests, or otherwise) of all or
substantially all of the business to which this Agreement relates; provided that (i) each Party shall provide prompt notice to the other in the event of any such permitted assignment, and (ii) in the case of an acquisition of Elevance, the
purchaser or successor is not active in the field of lubricants for plastics. 
  
 15.4 Severability. If any provision of this Agreement is determined to be invalid or unenforceable the remaining provisions of this Agreement shall not be affected thereby and shall be binding upon
Elevance and Clariant and shall be enforceable and such provision shall be reformed to the extent necessary to render such provision valid and enforceable and to reflect the intent of the Parties to the maximum extent possible under applicable law.

			
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	 	EXECUTION VERSION

  
 15.5 Waiver of
Default. The failure by either Party to insist upon strict performance of any of the provisions contained in this Agreement shall not constitute a waiver of its rights, at law or in equity, or a waiver of any other provisions or subsequent
default by the other Party in the performance or compliance with any of the terms and conditions set forth in this Agreement. 
  

15.6 Relationship of Parties. Each Party is an independent contractor of the other and neither Party nor any employee, agent or
contractor of such Party shall be considered a partner, joint venturer, joint employer, principal, agent, or employee of the other Party. 
  

15.7 Governing Law. This Agreement is to be governed by and construed in accordance with the laws of England, excluding that body
of law pertaining to conflict of laws. 
  
 15.8
Jointly Drafted; Review by Counsel. The Parties have participated jointly in the negotiation and drafting of this Agreement and have had the opportunity to review the Agreement with counsel of their choosing. In the event an ambiguity or
question of intent or interpretation arises, no presumption or burden of proof will arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement. 

 
 15.9 Further Assurances. Without limiting anything set
forth elsewhere in this Agreement, each Party hereby agrees that from time to time, at the request of the other Party and without further consideration, it shall execute and deliver such other documents and take such other actions as the other Party
may reasonably request to implement this Agreement. 
  

15.10 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original of this
Agreement and all of which together shall constitute one and the same instrument. 
  
 [SIGNATURES APPEAR ON FOLLOWING PAGE] 

			
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	 	EXECUTION VERSION

  
 IN WITNESS WHEREOF, the
Parties, by their respective authorized representatives, have signed this Agreement as of the Effective Date. 
  

			
	ELEVANCE RENEWABLE SCIENCES, INC.
		
	 By:
	 	/s/    K’Lynne Johnson        
	Name:	 	K’Lynne Johnson
	Title:	 	Chief Executive Officer
	 Date:
	 	June 17, 2011

  

			
	 CLARIANT INTERNATIONAL AG

		
	 By:
	 	/s/    Bernhard Ehrenreich        
	Name:	 	Bernhard Ehrenreich
	Title:	 	Vice President and Head of BL Waxes
	 Date:
	 	June 24, 2011

  

			
	 CLARIANT INTERNATIONAL AG

		
	 By:
	 	/s/    Kirsten Müller Kellenberger        
	Name:	 	Kirsten Müller Kellenberger
	Title:	 	Corporate Counsel
	 Date:
	 	June 27, 2011Product Conversion Agreement

 [***] Indicates that text has been omitted which is the subject of a confidential treatment request.
The text has been separately filed with the Securities and Exchange Commission. 
  

  Exhibit 10.14 

KOLMAR AMERICAS, INC. AND ELEVANCE NATCHEZ, INC. 
 PRODUCT CONVERSION AGREEMENT 
 This KOLMAR AMERICAS, INC. AND ELEVANCE NATCHEZ, INC.
PRODUCT CONVERSION AGREEMENT (the “Agreement”), made and entered into effective as of the date the last signature is affixed to this document (“the Effective Date”) is between KOLMAR Americas, Inc., whose business address is 10
Middle Street, PH; Bridgeport, Connecticut 06604 (“KOLMAR”) and Elevance Natchez, Inc., whose business address is 151 L.E. Barry Road; Natchez, Mississippi 39120 (“ELEVANCE”), and who is a wholly owned subsidiary of Elevance
Renewable Sciences, Inc., whose business address is 175 E. Crossroads Parkway, Suite F Bolingbrook, Illinois 60440. Hereinafter, KOLMAR and ELEVANCE are sometimes referred to as each a “Party” or collectively as the “Parties.”

 ARTICLE 1 
 RECITALS 
 WHEREAS, ELEVANCE is in the business of manufacturing and selling oleochemicals
and biodiesel products and other related products in the United States of America; and, 
 WHEREAS, KOLMAR is in the business of buying,
selling, trading, and marketing petrochemical, fuel products, biodiesel, and other related products in North America, and, 
 WHEREAS, ELEVANCE
desires to enter into an agreement with KOLMAR for the purpose of converting feedstock to biodiesel, as described in this Agreement; and, 

WHEREAS, KOLMAR desires to enter into an agreement with ELEVANCE for the purpose of converting feedstock to biodiesel, as described in this Agreement.

 NOW THEREFORE, in consideration of the recitals above and based on the mutual terms, covenants, and conditions set forth in this Agreement,
the Parties agree to the following: 
 ARTICLE 2 
 TERM 
  

	2.1	 	Term. The term of this Agreement shall be [***]. KOLMAR shall have the right, to complete final Product (as defined herein) delivery [***].

 ARTICLE 3 
 FEEDSTOCK, FEEDSTOCK DELIVERY, QUALITY, AND QUANTITY 
  

	3.1	 	Feedstock and Feedstock Quality. Feedstock delivered by KOLMAR to ELEVANCE under this Agreement shall be: 

 

	 	(a)	Crude Degummed Soybean Oil, in compliance with the National Oilseed Processors Association’s Trading Rules (2011 Edition), RULE 103—DEFINITIONS OF GRADES AND
QUALITY OF SOYBEAN OIL USED FOR SPECIFIC PURPOSES; Section 3a, DEFINITIONS OF GRADE AND QUALITY OF EXPORT OILS; Crude Degummed Soybean Oil; 

  

	 	(b)	Refined Soybean Oil, in compliance with the National Oilseed Processors Association’s Trading Rules (2011 Edition), RULE 103—DEFINITIONS OF GRADES AND QUALITY
OF SOYBEAN OIL USED FOR SPECIFIC PURPOSES; Section 3b, DEFINITIONS OF GRADE AND QUALITY OF EXPORT OILS; Refined Soybean Oil; 

  

	 	(c)	Crude, Super Degummed Canola Oil, in compliance with the Canadian Oilseed Processor’s Association (“COPA”) Type 1 specification, with this option being
an election by mutual agreement only; or, 

  
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	 	(d)	Refined Canola Oil, with this option being an election by mutual agreement only. The specifications for such Refined Canola Oil shall be mutually determined.

  

	3.1.1	Feedstock delivered by KOLMAR to ELEVANCE in accordance with this provision and meeting the above specifications is hereinafter referred to as the “Supplied
Product”. KOLMAR shall provide to ELEVANCE with all deliveries of Supplied Product a certificate of analysis with respect to the delivered Supplied Product. 

 

	3.2	 	Feedstock Sourcing. [***] 

  

	3.3	 	Feedstock Delivery. KOLMAR shall deliver the Supplied Product to ELEVANCE’s plant located in Natchez, Mississippi (the “Plant”). The quantity of
Supplied Product delivered to the Plant shall be evidenced by barge receipts and, or Bills of Lading from rail cars and, or tank trucks delivering Supplied Product to the Plant. 

 

	3.4	 	Feedstock Quantity. Subject to Article 9, KOLMAR shall deliver to the Plant, up to [***]. KOLMAR’s obligation to deliver up to [***] of Supplied Product to
the Plant each month is hereinafter referred to as “KOLMAR’s Monthly Quantity Obligation”. KOLMAR’s obligation to deliver [***] of Supplied Product to the Plant throughout the Term is hereinafter referred to as
“KOLMAR’s Term Quantity Obligation”. KOLMAR may vary the quantity of Supplied Product delivered to the Plant each month with such deliveries and with KOLMAR’s Monthly Quantity Obligation and KOLMAR’s Term Quantity Obligation
being subject to §§ 3.4.1, 10.1, and 10.3. During the first month of this Agreement, KOLMAR shall deliver to ELEVANCE in the month of August, 2011 a quantity of 800,000 gallons of Supplied Product. 

 

	3.4.1	 KOLMAR shall provide notice to ELEVANCE of the quantity of Supplied Product to be delivered in a given month and estimated dates for the delivery of
such quantities by the twentieth (20th) day of the
preceding month (“Quantity Nomination”). KOLMAR’s Quantity Nomination may be amended any number of times up to and including seven (7) calendar days prior to the end of each month for conversion of Supplied Product into biodiesel
in that same month. In order to meet ELEVANCE’s Monthly Quantity Obligation as defined in § 4.3, ELEVANCE’s targeted conversion rate is 45,500 gallons of Supplied Product per day, as per § 4.1.1. To the extent KOLMAR does not
deliver to ELEVANCE sufficient quantities of Supplied Product on dates that would permit ELEVANCE to meet this daily production run rate over the course of an applicable month (with sufficient lead times to structure production runs at necessary
conversion rates), any resulting quantity deficit in accordance with Article 9 shall be deemed to be a KOLMAR’s Quantity Deficit and not ELEVANCE’s Quantity Deficit. 

 

	3.4.2	Should KOLMAR fail to nominate a Quantity Nomination for a given month by the given date, KOLMAR shall supply [***] of Supplied Product in the subsequent month.

  

	3.4.3	 KOLMAR’s nomination for a given month’s Production Requirements shall be provided to ELEVANCE by the twentieth (20th) day of the preceding month. 

ARTICLE 4 

CONVERSION OF SUPPLIED PRODUCT AND FINISHED PRODUCT QUANTITY AND QUALITY 

 

	4.1	 	Conversion of Supplied Product. ELEVANCE shall, within the confines of its design and operational capability, convert the Supplied Product stored in
KOLMAR’s Supplied Product Tanks (with such storage tanks as defined in § 7.1) into KOLMAR’s Finished Product to meet the required Biodiesel Specification. The cost of such conversion shall be ELEVANCE’s financial responsibility.

  

	 	4.1.1	ELEVANCE shall convert Supplied Product to biodiesel at a targeted production rate of 45,500 gallons of Supplied Product per day, and in minimum quantities of 160,000
gallons. Each production run of 160,000 gallons at a rate of 45,500 gallons per day throughout each month shall hereinafter be referred to as a “Production Campaign”. 

  
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	 	4.1.2	Unless otherwise agreed, ELEVANCE shall initiate each Production Campaign within four (4) calendar days each delivery of KOLMAR’s Supplied Product into
KOLMAR’s Supplied Product Tanks, or at times whereby a sufficient quantity of Supplied Product is stored in KOLMAR’s Supplied Product Tanks (with such tanks with such storage tanks as defined in § 7.1) to execute a Production
Campaign. 

  

	 	4.1.3	KOLMAR shall have the option to nominate to ELEVANCE the number of Production Campaigns in a given month, based on the quantity of Supplied Product in KOLMAR’s
Supplied Product Tanks (with such storage tanks as defined in § 7.1), and ELEVANCE shall upon KOLMAR’s such nomination, advise KOLMAR as to the applicability of KOLMAR’s requested number of Production Campaigns. Should ELEVANCE accept
KOLMAR’s nomination for a specific number of Production Campaigns to be run in a given month, ELEVANCE shall produce KOLMAR’s Finished Product during such Production Campaigns in accordance with the terms of this Agreement.

   

	 	4.1.4	KOLMAR’s nomination of the number of Production Campaigns in a given month may be amended any number of times up to and including seven (7) days prior to the
end of each month for conversion of Supplied Product to biodiesel in that same month, subject to § 4.1.3; provided however, that to the extent any change to the Production Requirements results in ELEVANCE not being able to meet its
ELEVANCE’s Monthly Quantity Obligation due to inability to convert the Supplied Product on a relatively uniform daily basis (throughout each applicable month) in line with production capacity at the Plant, any resulting quantity deficit in
accordance with Article 10 shall be deemed to be a KOLMAR’s Quantity Deficit and not an ELEVANCE’s Quantity Deficit. 

  

	 	4.1.5	ELEVANCE shall not contract to third parties any aspect of the conversion of Supplied Product to biodiesel without the prior written consent of KOLMAR; provided,
however, that ELEVANCE shall be permitted to use subcontractors in operation of the Plant without first obtaining KOLMAR’s consent. 

  

	 	4.1.6	ELEVANCE has and shall maintain in good standing at its own expense all necessary licenses, permits, authorizations and approvals, including registration with the U.S.
Internal Revenue Service (“IRS”) as a biodiesel producer (with such IRS registration being applied for as of the Effective Date and granted within sixty (60) days thereafter1), required by any and all governmental agencies in connection with the conversion of Supplied Product to KOLMAR’s
Finished Product and delivering KOLMAR’s Finished Product plus Renewable Identification Numbers (See § 11 for a description of Renewable Identification Numbers), as specified in this Agreement. 

 

	4.2	Finished Product and Finished Product Quality. ELEVANCE shall convert the Supplied Product delivered to the Plant into biodiesel methyl esters. The biodiesel
methyl esters produced by ELEVANCE hereunder, shall meet both the latest ASTM D6751 specification and the latest EN 14214 specification, which as of the Effective Date, are as set forth in Exhibit A, and ELEVANCE shall perform testing of the
biodiesel methyl esters as per the test method and in frequencies as per Exhibit A. 

  

	 	4.2.1	If either or both the ASTM D6751 and, or the EN14214 specifications are amended during the Term (the “Amendment(s)”), ELEVANCE shall, within seven
(7) calendar days of KOLMAR’s notification to ELEVANCE of the publication of any such Amendment(s), notify KOLMAR whether such Amendment(s) can be incorporated into its operations. Also: 

 

	1 	 	Should ELEVANCE not obtain the IRS Registration by the time KOLMAR is to take its first delivery of KOLMAR’s Finished Product into barges, rail cars, or tank
truck, the Parties are to work together to determine the best course of action to enable KOLMAR to have such KOLMAR’s Finished Product qualify for the IRS’s Biodiesel credit. If no solution to this issue is arranged, and as a consequence
KOLMAR cannot receive delivery of KOLMAR’s Finished Product into barges, rail cars, or tank trucks, the affected quantity of KOLMAR’s Finished Product shall constitute an ELEVANCE’s Quantity Deficit. 

  
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	 	(a)	Should ELEVANCE be able to accommodate any such Amendment(s), KOLMAR and ELEVANCE shall amend this Agreement accordingly; 

 

	 	(b)	Should ELEVANCE determine it is unable to fully meet any such Amendment(s), ELEVANCE shall notify KOLMAR the extent to which it can comply with the Amendment(s), and
propose to KOLMAR the details of a change to the affected specification(s) acceptable to ELEVANCE (“Proposed Specification Change”), along with data and reasoning that supports its findings regarding the Proposed Specification Change. Upon
KOLMAR’s receipt of ELEVANCE’s such proposal, data, and rationale, KOLMAR shall advise ELEVANCE within seven (7) calendar days whether ELEVANCE’s Proposed Specification Change is acceptable. Should KOLMAR accept the Proposed
Specification Change, KOLMAR and ELEVANCE shall amend this Agreement accordingly. If, on the other hand, KOLMAR rejects the Proposed Specification Change, the Parties shall, effective as of a mutually determined date, terminate this Agreement and
release each other from all obligations under this Agreement. 

  

	 	4.2.2	ELEVANCE shall be, and shall remain through the Term, a BQ9000 certified producer. 

 

	 	4.2.3	The finished product produced in accordance with this § 4.2 shall be hereinafter referred to as “KOLMAR’s Finished Product”, or
“ELEVANCE’s Finished Product”, depending on which Party’s feedstock is processed. 

  

	 	4.2.4	The quality of KOLMAR’s Finished Product, or ELEVANCE’s Finished Product produced in accordance with this § 4.2 shall hereinafter referred to as the
“Biodiesel Specification”. 

  

	4.3	 	Finished Product Quantity. Unless otherwise agreed by the Parties, ELEVANCE shall convert all Supplied Product delivered by KOLMAR to the Plant in a given month
into KOLMAR’s Finished Product, with such quantity of Supplied Product to be converted to KOLMAR’s Finished Product not to exceed [***] of Supplied Product into KOLMAR’s Finished Product throughout the Term. ELEVANCE’s obligation
to convert all of the Supplied Product delivered by KOLMAR to the Plant in a given month into KOLMAR’s Finished Product Tanks, in a quantity of up to [***] of Supplied Product for the month of [***] and in a quantity of up to [***] of Supplied
Product thereafter, is hereinafter referred to as “ELEVANCE’s Monthly Quantity Obligation”. n”. 

  

	 	4.3.1	ELEVANCE’s obligation to convert Supplied Product into KOLMAR’s Finished Product is subject to this § 4.3, and §§ 4.1, 10.1, 10.2, and 10.3.

  

	 	4.3.2	Subject to KOLMAR’s deliveries of Supplied Product, during any given month, the Parties may agree to convert more than [***] of Supplied Product into KOLMAR’s
Finished Product, with the stipulation that such additional quantity of Supplied Product converted to KOLMAR’s Finished Product shall be credited toward ELEVANCE’s Monthly Quantity Obligation for the stipulated month, , KOLMAR’s
Monthly Quantity Obligation for the stipulated month, and KOLMAR’s Term Quantity Obligation. 

   

	 	4.3.3	The Parties agree that Supplied Product will be converted to KOLMAR’S Finished Product on a ratable basis to manage operations at the Plant and logistical
constraints at the Plant, with a targeted run rate of 45,500 gallons on each day of production (not an average of 45,500 gallons per day when calculated over a month). 

ARTICLE 5 

PRODUCTION RIGHTS 
  

	5.1	 	KOLMAR’S Rights. Subject to §§ 5.2 and 5.3, during the Term, ELEVANCE shall not convert feedstocks into biodiesel at the Plant for any party other
than KOLMAR. 

  

	5.2	 	ELEVANCE’s Rights. ELEVANCE has the right to convert feedstock it purchases (ELEVANCE’s Feedstock”) into finished product (“ELEVANCE’s
Finished Product”) subject to § 5.2.1 and to: a) satisfy 

  
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 Kolmar and Elevance and Product Conversion
Agreement 
  

	 	
its quantity obligations under § 4.3; b) satisfy the Guaranteed Yield, as per § 6.4, and to fill and maintain ELEVANCE’s Product Tank (as defined herein) to the limit of 5,000
barrels of ELEVANCE’s Feedstock, or of ELEVANCE’s Finished Product per month. 

  

	 	5.2.1	For each month in which KOLMAR does not process at least [***] Supplied Product, ELEVANCE shall have the right to offer for sale up to 5,000 barrels of ELEVANCE’s
Finished Product produced from ELEVANCE’s Feedstock into the marketplace in any such month (or any subsequent month) or at the end of the Term. Upon the exercise of this right, KOLMAR shall have the first right to purchase ELEVANCE’s
Finished Product, and the last right of refusal to purchase ELEVANCE’s Finished Product. 

  

	 	5.2.2	If ELEVANCE elects to supply to KOLMAR any ELEVANCE’s Finished Product to make up an ELEVANCE’s Quantity Deficit other than in situations in which ELEVANCE
uses ELEVANCE’s Finished Product to blend with Off-Spec Product in accordance with § 6.1 or to make up for any Yield Deficiency in accordance with § 6.4(b), then KOLMAR shall (a) pay the Conversion Fee pursuant to § 9.3 with
respect to such ELEVANCE’s Finished Product, and (b) replace with Supplied Product the quantity of ELEVANCE’s Feedstock converted to such ELEVANCE’s Finished Product using the conversion calculation set forth in § 9.1(c) or
§ 9.1(d), as applicable. 

  

	5.3	 	KOLMAR’s USE of ELEVANCE’s Feedstock. Subject to ELEVANCE’s consent, with such consent not to be unreasonably withheld, KOLMAR may instruct
ELEVANCE to convert a quantity of ELEVANCE’s Feedstock stored in ELEVANCE’s Feedstock Tank (as defined in § 7.2) into KOLMAR’s Finished Product, in any given month to meet KOLMAR’s Monthly Quantity Obligation or
KOLMAR’s Term Quantity Obligation, provided KOLMAR replaces such quantity of ELEVANCE’s Feedstock with the first delivery of Supplied Product delivered after the date ELEVANCE processes ELEVANCE’s Feedstock for KOLMAR’s use.

  

	 	5.3.1	KOLMAR may take delivery of a quantity of ELEVANCE’s Finished Product stored in ELEVANCE’s Finished Product Tank (with such storage tanks as defined in §
7.2), in any given month to meet KOLMAR’s Monthly Quantity Obligation, provided KOLMAR replaces such quantity of ELEVANCE’s Finished Product with KOLMAR’s Finished produced in the first Production Campaign following the date on which
KOLMAR receives delivery of ELEVANCE’s Finished Product. 

  

	 	5.3.2	During the time of KOLMAR’s use of ELEVANCE’s Feedstock or ELEVANCE’s Finished Product, the timing associated with the portion of any ELEVANCE’s
Quantity Deficit (as defined herein and as per § 10.1 and 10.2),that is equal to the quantity ofELEVANCE’s Feedstock used by KOLMAR in accordance with § 5.3 shall be suspended until such date as KOLMAR replaces the quantity of
ELEVANCE’s Feedstock or ELEVANCE’s Finished Product, respectively, in accordance with § 5.3.1. For the sake of clarity, the following exemplifies how this provision would work: Should KOLMAR take delivery of 2,000 barrels of
ELEVANCE’s Finished Product on September 28, 2011 and replenish that quantity of with KOLMAR’s Finished Product on October 3, 2011, and if during the month of September ELEVANCE has under produced its Monthly Quantity Obligation
by 2,000 barrels, then ELEVANCE’s obligation to produce the under produced 2,000 barrels shall be extended through October 10, 2011. 

 ARTICLE 6 
 OFF-SPEC PRODUCTION AND YIELD 

 

	6.1	 	Off-Spec Product. If ELEVANCE is unable to produce KOLMAR’s Finished Product that meets the required Biodiesel Specification (“Off-Spec Product”),
ELEVANCE shall provide written notice to KOLMAR of such condition. KOLMAR shall have the right in its sole discretion to elect to take delivery of Off-Spec Product, in which case such Off-Spec Product shall be delivered “as is” and without
warranty 

  
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of any kind. If KOLMAR elects not to take delivery of Off-Spec Product (or fails to provide notice of its election to ELEVANCE within two (2) Business Days of receipt of notice of Off-Spec
Product from ELEVANCE), then ELEVANCE shall have the right, at its election and at its cost, to either (i) forgo delivery of the Off-Spec Product, with such quantity of Off-Spec Product being a ELEVANCE Quantity Deficit and with ELEVANCE’s
election to forgo delivery of the Off-Spec Product being subject to §§ 10.1 and 10.2, (ii) deliver the required quantity of ELEVANCE’s Finished Product to KOLMAR, provided such ELEVANCE’s Finished Product meets the Biodiesel
Specification, or (iii) reprocess the Off-Spec Product as follows: 

  

	 	(a)	ELEVANCE may, at its election, ask KOLMAR to purchase the required quantity of biodiesel or other blend-stocks required to conform the Off-Spec Product to the required
Biodiesel Specification. In such an instance, ELEVANCE, at no cost to KOLMAR, shall (i) continue to store the Off-Spec Product in KOLMAR’s Finished Product Tanks (with such storage tanks as defined in § 7.1), and (ii) blend the
purchased biodiesel or other blend-stocks with the Off-Spec Product, in order to achieve the required Biodiesel Specification, or 

  

	 	(b)	ELEVANCE may, with KOLMAR’s consent, blend Off-Spec Product with ELEVANCE’s Finished Product stored in ELEVANCE’s Finished Product Tank (with such
storage tanks as defined in § 7.2) to conform the Off-Spec Product to the required Biodiesel Specification. 

  

	 	6.1.1	ELEVANCE shall be responsible and held accountable for (a) all out-of-pocket costs incurred by KOLMAR in accordance with § 6.1(a) (after ELEVANCE election to
have KOLMAR purchase biodiesel or blend-stocks) to purchase required quantity of biodiesel or other blend-stocks required to conform the Off-spec Product to the required Biodiesel Specification, and (b) all costs incurred by ELEVANCE to blend
the Off-Spec Product with purchased biodiesel or other blend-stocks to conform the Off-Spec Product to the required Biodiesel Specification. 

  

	 	6.1.2	Should ELEVANCE successfully conform the Off-Spec Product to the required Biodiesel Specification (“Conformed Product”) or substitute ELEVANCE’s Finished
Product in the quantity of any Off-Spec Product within the month, provided ELEVANCE’s Finished Product meets the required Biodiesel Specification, it is obligated to deliver that quantity of Conformed Product to KOLMAR, or within the first
seven (7) calendar days of the subsequent month, the quantity of Conformed Product shall be applied against ELEVANCE’s Monthly Quantity Obligation for month in which the Off-Spec Product was produced. 

 

	 	6.1.3	Should ELEVANCE fail to successfully conform a quantity of Off-Spec Product to the required Biodiesel Specification by the end of the subject month or within the first
seven (7) calendar days of the subsequent month, that quantity of Off-Spec Product (as reduced by the supply of any ELEVANCE’s Finished Product to substitute for such Off-Spec Product) shall constitute an ELEVANCE Quantity Deficit (as
defined in § 10.1) for ELEVANCE. In addition, if by the end of the Term, ELEVANCE has failed to successfully conform and deliver to KOLMAR any quantity of Off-Spec Product to the required Biodiesel Specification, then ELEVANCE shall pay to
KOLMAR a sum equal to KOLMAR’s cost of all Supplied Product from which such Off-Spec Product was produced (using the weighted average cost of Supplied Product over the Term). 

 

	6.2	 	Yield. ELEVANCE guarantees a yield of KOLMAR’s Finished Product converted from Supplied Product (the “Guaranteed Yield”) to be no less than a
minimum of ninety five percent (95%) for Crude Degummed Soybean Oil and Crude, Super Degummed Canola Oils, and a minimum of ninety eight percent (98%) for Refined Soybean Oil and for Refined Canola Oils. For purposes of the calculating the
yield, the Supplied Product gravity is 7.69 pounds per gallon and the Finished Product gravity is 7.35 pounds per gallon. 

  

	6.3	 	Yield Calculation. The “Actual Yield” shall be calculated using the information below, the generation of which is ELEVANCE’s accountability,
unless otherwise stipulated in this Agreement. 

  

	 	(a)	The quantity of Supplied Product transferred from KOLMAR’s Supplied Product Tanks to ELEVANCE’s production unit for conversion to KOLMAR’s Finished
Product; 

  
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	 	(b)	The quantity of KOLMAR’s Finished Product transferred from ELEVANCE’s production unit into KOLMAR’s Finished Product Tanks; and,

  

	 	6.3.1	The Actual Yield shall be calculated on a per pound basis after applying the relevant specific gravity to convert gallons measured into pounds, on a monthly basis using
the following formula: 

 [the quantity in pounds of (b) above] divided by [the quantity in pounds of
(a) above] multiplied by [100]. 
  

	6.4	 	Yield Variances. The aggregate Actual Yield calculated to be higher or lower than the Guaranteed Yield in a given month shall be addressed as follows:

  

	 	(a)	For any Production Campaign resulting in an Actual Yield that exceeds the Guaranteed Yield, KOLMAR shall pay the Conversion Fee (as defined in § 9.1) for the
gallons of KOLMAR’s Finished Product produced during such Production Campaigns that exceed ELEVANCE’s Monthly Quantity Obligation. 

  

	 	(b)	For any Production Campaign resulting in an Actual Yield that is less than the Guaranteed Yield, (the “Yield Deficiency”) ELEVANCE may substitute the required
quantity of ELEVANCE’s Finished Product, subject to that product meeting the Biodiesel Specification, for the quantity of KOLMAR’s Finished Product that did not meet the Guaranteed Yield within the given month, or within the first seven
(7) calendar days of the subsequent month. If ELEVANCE fails to substitute ELEVANCE’s Finished Product that conforms to the Biodiesel Specification, to make up for the Yield Deficiency, within seven (7) days of the month following the
month in which there is a Yield Deficiency, the quantity of the Yield Deficiency shall constitute an ELEVANCE Quantity Deficit (as per §§ 10.1 and 10.2). 

 

	 	(c)	For any Production Campaign that results in a Yield Deficiency, the Quantity Deficit (as per § 10.1) resulting from the Actual Yield shall constitute an ELEVANCE
Quantity Deficit, and such ELEVANCE Quantity Deficit shall be subject to §§ 10.1 and 10.2. In addition, if by the end of the Term, ELEVANCE has failed to successfully make-up the quantity of any Yield Deficiency calculated throughout the
Term, then ELEVANCE shall pay to KOLMAR a sum equal to KOLMAR’s weighted average cost of all Supplied Product (averaged over the Term), applied to the quantity of the Yield Deficiency. 

ARTICLE 7 

STORAGE, DELIVERY, AND SECURITY 
  

	7.1	 	KOLMAR’s Storage. KOLMAR shall have the exclusive use of ELEVANCE’s 18,000 barrel feedstock, and one of ELEVANCE’s 5,000 barrel feedstock tanks at
the Plant (“KOLMAR’s Supplied Product Tanks”). KOLMAR shall also have the exclusive use of ELEVANCE’s 15,000 barrel finished product tank, and two of ELEVANCE’s 5,000 barrel finished product tanks (“KOLMAR’s
Finished Product Tanks”). 

  

	7.2	 	ELEVANCE’s Storage. ELEVANCE shall maintain and have for its use, at least one 5,000 barrel feedstock tank (“ELEVANCE’s Feedstock Tank”) and
at least one 5,000 barrel finished product tank (“ELEVANCE’s Finished Product Tank”). 

  

	7.3	 	Product Integrity. Both KOLMAR’s Feedstock Product Tanks and KOLMAR’s Finished Product Tanks shall be maintain at all times, the integrity of the
Supplied Product and KOLMAR’s Finished Product, respectively. 

  

	7.4	 	Delivery of Supplied Product. KOLMAR shall deliver the Supplied Product to the Plant by tank truck, rail car, or barge, at KOLMAR’s sole election. All
deliveries of Supplied Product shall be DAP (reference Incoterms “DAP”) to the Plant; provided that ELEVANCE shall have no obligations with respect to costs for import clearance, if any, which costs shall be the responsibility of KOLMAR.

  
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	7.5	 	Discharge of Supplied Product. ELEVANCE shall discharge each delivery of Supplied Product into one of KOLMAR’s Supplied Product Tanks, per KOLMAR’s
instructions as to which KOLMAR’s Supplied Product Tanks to use, in accordance with the discharge terms specified in § 16.5 and as follows: 

  

	 	(a)	Supplied Product delivered by tank truck shall be discharged within the same day of each tank truck’s arrival at the Plant into the Supplied Product Tanks. If a
tank truck’s arrival at the Plant is delayed by ELEVANCE, the tank truck will be deemed to have arrived when notice of its arrival is dispatched to ELEVANCE. 

 

	 	(b)	Supplied Product delivered by rail car shall be discharged within one (1) calendar days of the date of arrival of each rail car at the Plant. If a rail car’s
arrival at the Plant is delayed by ELEVANCE, the rail car will be deemed to have arrived when notice of its arrival is dispatched to ELEVANCE. 

  

	 	(c)	Supplied Product delivered by barge shall be discharged within one (1) calendar days of the date of arrival of each barge at the Plant. If a barge’s arrival
at the Plant is delayed by ELEVANCE, the barge will be deemed to have arrived when notice of its arrival is dispatched to ELEVANCE. 

  

	7.6	 	KOLMAR’s Finished Product Tank Delivery. At the conclusion of each Production Campaign, ELEVANCE shall deliver KOLMAR’s Finished Product into one of
KOLMAR’s Finished Product Tanks, per KOLMAR’s instructions as to which KOLMAR’s Finished Product Tanks to use. 

  

	7.7	 	Tank Holding Certificate. ELEVANCE shall execute a NOTIFICATION OF BANK SECURITY INTEREST document (the “Tank Holding Certificate”), with such document
being incorporated into this Agreement by reference, that grants to designated KOLMAR’s financing bank (the “Bank”), a secured interest (the “Security Interest”) in the Supplied Product and KOLMAR’s Finished Product
(collectively “KOLMAR’s Product”) that is stored in the Supplied Product Tanks and KOLMAR’s Finished Product Tanks located at the Plant. By virtue of the above-described security interest, ELEVANCE agrees that it will hold the
Supplied Product and KOLMAR’s Finished Product on behalf of the Bank, as a secured party, and further, ELEVANCE: 

  

	 	(a)	Acknowledges the Bank’s security interest in KOLMAR’s Product, and confirms that the Bank, shall not have any personal liability for any warehousing, storage,
or other charges; 

  

	 	(b)	Agrees not to release any Supplied Product or KOLMAR’s Finished Product to any party other than KOLMAR (or KOLMAR’s designated shipper) without the prior
written assent from the Bank, provided in email or facsimile form; 

  

	 	(c)	Confirms that no third party has advised it that it claims a security interest in the Supplied Product or KOLMAR’s Finished Product; 

 

	 	(d)	Acknowledges that it will not issue negotiable warehouse receipts; 

  

	 	(e)	Agrees not to permit the Supplied Product or KOLMAR’s Finished Product to be subjected to any mortgage, sale, or lien of whatsoever nature to or in favor of any
third party; 

  

	 	(f)	Recognizes that at all times whilst in its custody, KOLMAR holds sole title to KOLMAR’s Product; and, 

 

	 	(g)	Acknowledges that any dispute involving these provisions is subject to the laws of the State of New York, and that it submits to the exclusive jurisdiction of the
courts situated in the New York, New York. 

  
  

	 	7.7.1	ELEVANCE also affirms that it shall undertake to keep KOLMAR’s Product safe and securely stored at all times at the Plant, and identified in its records in the
name of the Bank. ELEVANCE also affirms that it carries sufficient and appropriate insurance to protect the Bank’s and KOLMAR’s interests under this Holding Certificate. Finally, ELEVANCE shall grant the Bank and or its respect appointed
agents, wherever required, access to the Plant to inspect KOLMAR’s Product during normal business hours and on reasonable advance notice, subject to on-site policies at the Plant. 

  
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 ARTICLE 8 
 DELIVERY OF KOLMAR’S FINISHED PRODUCT, AND TRANSFER OF TITLE AND RISK OF LOSS 
  

	8.1	 	Delivery of KOLMAR’s Finished Product. ELEVANCE shall deliver KOLMAR’s Finished Product stored in KOLMAR’s Finished Product Tanks, or where
permitted under this Agreement, ELEVANCE may deliver ELEVANCE’s Finished Product stored in ELEVANCE’s Finished Product Tanks, to KOLMAR FOB the Plant (reference Incoterms “FOB”), delivered into tank trucks, rail cars, or barges,
at KOLMAR’s sole election and as per KOLMAR’s instructions. 

  

	8.2	 	Transfer of Title and Risk of Loss. Title to the Supplied Product and KOLMAR’s Finished Product shall remain at all times KOLMAR’s. Risk of loss of,
damage to, and all liability connected with the Supplied Product shall transfer to ELEVANCE upon delivery to ELEVANCE’s Plant. 

  

	 	8.2.1	Risk of loss of, damage to, and all liability connected to KOLMAR’s Finished Product delivered into tank trucks, rail cars, or barges, shall be transferred from
ELEVANCE to KOLMAR when KOLMAR’s Finished Product passes the incoming flange of the tank truck, rail car, or barge designated by KOLMAR under § 8.1. 

 

	 	8.2.2	Title to, risk of loss of, damage to, and all liability connected to ELEVANCE’s Feedstock and ELEVANCE’s Finished Product shall remain ELEVANCE’s, until
such time as ELEVANCE delivers ELEVANCE’s Finished Product to KOLMAR. For such deliveries, title to, risk of loss of, damage to, and all liability connected with ELEVANCE’s Finished Product shall pass to KOLMAR once ELEVANCE’s
Finished Product passes the incoming flange of KOLMAR’s tank truck, rail car, and, or barge. 

 ARTICLE 9

 CONVERSION FEE, PAYMENTS, AND SECURITY INTEREST 

 

	9.1	 	Conversion Fee. KOLMAR shall pay to ELEVANCE the sum of [***] for each gallon of Supplied Product converted to KOLMAR’s Finished Product and for each gallon
of ELEVANCE’s Feedstock converted to ELEVANCE’s Finished Product that is used to make up any shortfall in the production of KOLMAR’s Finished Product, throughout the Term (the “Conversion Fee”). The Conversion Fee shall be
applied to the quantity of Supplied Product converted to KOLMAR’s Finished Product in a given month, and the quantity of ELEVANCE’s Feedstock converted as per above, as follows: 

 

	 	(a)	In the case of Kolmar-supplied Crude Degummed Soybean Oil and/or Crude, Super Degummed Canola Oil, the quantity of KOLMAR’s Supplied Product (in gallons) converted
into KOLMAR’s Finished Product shall be calculated as follows: 

 [the quantity of KOLMAR’s Finished
Product (converted from gallons to pounds using 7.35 pounds per gallon (the specific gravity of KOLMAR’s Finished Product)) delivered into KOLMAR’s Finished Product tanks] divided by [0.95] divided by [7.69 pounds per gallon (the gravity
of Supplied Product)]. 
  

	 	(b)	In the case of Kolmar-supplied Refined Soybean Oil and/or Refined Canola Oil, the quantity of KOLMAR’s Supplied Product converted into KOLMAR’s Finished
Product shall be calculated as follows: 

 [the quantity of KOLMAR’s Finished Product (converted from
gallons to pounds using 7.35 pounds per gallon (the specific gravity of KOLMAR’s Finished Product)) delivered into KOLMAR’s Finished Product tanks] divided by [0.98] divided by [7.69 pounds per gallon (the gravity of Supplied Product)].

  
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	 	(c)	In the case in which ELEVANCE has converted ELEVANCE’s Feedstock to replace or in substitution of Supplied Product that is or was supplied by KOLMAR as Crude
Degummed Soybean Oil and/or Crude, Super Degummed Canola Oil to ELEVANCE’s Finished Product that is supplied to KOLMAR for that month, the quantity of ELEVANCE’s Feedstock converted into such ELEVANCE’s Finished Product shall be
calculated as follows: 

 [the quantity ELEVANCE’s Finished Product (converted from gallons to pounds using
7.35 pounds per gallon (the specific gravity of ELEVANCE’s Finished Product)) delivered into KOLMAR’s Finished Product tanks] divided by [0.95] divided by [7.69 pounds per gallon (the gravity of Supplied Product)]. 

 

	 	(d)	In the case in which ELEVANCE has converted ELEVANCE’s Feedstock to replace or in substitution of Supplied Product that is or was supplied by KOLMAR as Refined
Soybean Oil and/or Refined Canola Oil to ELEVANCE’s Finished Product that is supplied to KOLMAR for that month, the quantity of ELEVANCE’s Feedstock converted into such ELEVANCE’s Finished Product shall be calculated as follows:

 [the quantity of ELEVANCE’s Finished Product (converted from gallons to pounds using 7.35 pounds per
gallon (the specific gravity of ELEVANCE’s Finished Product)) delivered into KOLMAR’s Finished Product tanks] divided by [0.98] divided by [7.69 pounds per gallon (the gravity of Supplied Product)]. 

 

	9.2	 	Invoicing and Payment. Payments made under this Agreement shall be via wire transfer or ACH, in same day funds to an account number at a given bank provided by
each Party. Any bank charges incurred by either Party when remitting funds via wire transfer shall be for that Party’s account. In the event either Party disputes any portion of an invoice, that Party shall promptly notify the other
Party, in writing, of the disputed amount and the reason the amount is disputed; however, if any portion of an invoice is not disputed, the undisputed portion of the invoice must be paid in accordance with the terms of this paragraph. After receipt
of notice of a dispute, the Parties shall promptly meet to resolve the dispute. 

  

	9.3	 	Payment Terms. KOLMAR shall pay ELEVANCE the Conversion Fee for the quantity of Supplied Product converted to KOLMAR’s Finished Product each month and for
the quantity of ELEVANCE’s Feedstock converted to ELEVANCE’s Finished Product that is used to make up any quantity shortfall in KOLMAR’s Finished Product in such month (the “Monthly Quantity”), and any additional Conversion
Fee due pursuant to § 6.4(a) for such month within three (3) Business Days of the first day of the month following the conversion of the Monthly Quantity by electronic funds transfer, and upon its receipt of the following:

  

	 	(a)	An invoice in the form of an original document, a facsimile, or an electronic transmission indicating (i) the quantity of KOLMAR’s Supplied Product converted
to KOLMAR’s Finished Product produced and delivered as per § 8.1, (ii) the quantity of ELEVANCE’s Feedstocks converted to ELEVANCE’s Finished Product delivered to KOLMAR to make-up any ELEVANCE’s Quantity Deficit (as
defined in §§ 10.1 and 10.1 , if any, and (iii) any additional Conversion Fee due pursuant to § 6.4(a) for such month; 

  

	 	(b)	A certificate of quality generated by ELEVANCE’s laboratory or by an outside laboratory mutually agreed upon by the Parties (provided that Intertek in Deer Park,
Texas is hereby approved), unless otherwise stipulated in this Agreement, for KOLMAR’s Finished Product produced and transferred into KOLMAR’s Finished Product Tanks in the given month; 

 

	 	(c)	A certificate of quantity that: 

  

	 	(i)	Confirms the quantity of Supplied Product received by ELEVANCE in the given month; 

 

	 	(ii)	Confirms the quantity of KOLMAR’s Finished Product delivered to KOLMAR’s Finished Product Tanks in the given month; 

 

	 	(iii)	Confirms the aggregate Bills of Lading weights associated with any and all rail car and tank truck deliveries of Supplied Product in the given month; and,

  
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	 	(iv)	Confirms the certificates of quantity associated with any and all barge deliveries Supplied Product in the given month; and, 

A document indicating the quantity of Supplied Product stored in KOLMAR’s Supplied Product Tanks and the quantity of KOLMAR’s
Finished Product stored in KOLMAR’s Finished Product Tanks on the last day of the given month; 
  

	 	(d)	 	A calculation of the Actual Yield from the conversion of Supplied Product into KOLMAR’s Finished Product; 

 

	 	(e)	A Product Transfer Document, which shall be generated in accordance with the U.S. Environmental Protection Agency’s National Renewable Fuel Standard Program, and
which shall serve to transfer title to the RINs generated under this Agreement (the “PTD”). 

  

	 	(f)	A Certificate of Biodiesel from the U.S. Internal Revenue Service (subject to § 4.1.6); and 

 

	 	(g)	An executed Tank Holding Certificate, as approved by KOLMAR’s financing bank for KOLMAR’s Finished Product or other security interest document as required by
KOLMAR’s financing bank for securing KOLMAR’s Finished Product (to the extent not previously provided). 

  

	 	9.3.1	Notwithstanding the foregoing, if there is any Quantity Deficit (as defined in § 10.1) in a given month, ELEVANCE may, at its election, (i) submit an invoice
in accordance with the timeframe specified above, in which case ELEVANCE may resubmit or supplement the foregoing information after the seven (7) day grace period following the conclusion of the month in which the applicable Quantity Deficit
arose and issue a supplemental invoice to cover the processing of additional Supplied Product or ELEVANCE’s Feedstock or the supply by ELEVANCE to KOLMAR of any ELEVANCE’s Finished Product to meet any Quantity Deficit or a portion thereof,
or (ii) delay in providing the invoice and required documentation until after the conclusion of the seven (7) day grace period to account for the processing of additional Supplied Product or ELEVANCE’s Feedstock or the supply by
ELEVANCE to KOLMAR of any ELEVANCE’s Finished Product to meet any Quantity Deficit or a portion thereof. 

  

	9.4	 	Security Interest. ELEVANCE will use its best efforts to assist KOLMAR in coordinating the issuance of Tank Holding Certificates, insurance documents, and, or
other security instruments to enable KOLMAR to fix its security interest rights in any and all Supplied Product and any and all of KOLMAR’s Finished Product in ELEVANCE’s custody at any time throughout the Term. The mechanism(s) by which
such financial security provisions are set forth in § 7.7. 

 ARTICLE 10 

QUANTITY DEFICITS AND MAKE-UP TIMING 
  

	10.1	 	Quantity Deficits. Should either Party underperform on its quantity obligation, as per §§ 3.4 and 4.3 in any given month or at the end of the Term,
with such underperformance, hereinafter referred to as a “Quantity Deficit” (sometimes a Quantity Deficit is referred to with the Party’s name preceding the words Quantity Deficit. This means that the named Party is accountable for
the Quantity Deficit), that Party shall be accountable to the other Party in accordance with the following terms: 

(a) [***] 
 (b)
[***] 
  

	10.2	 	ELEVANCE’S Quantity Deficits. Should there be an ELEVANCE’s Quantity Deficit in a given month, ELEVANCE may convert Supplied Product into KOLMAR’s
Finished Product during the first seven (7) calendar days of the subsequent month and apply that quantity of Supplied Product converted into KOLMAR’s Finished Product toward its quantity obligation in the preceding month. Should ELEVANCE
not convert sufficient Supplied Product into KOLMAR’s Finished Product during the first seven (7) 

  
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calendar days of the subsequent month, the quantity that is not converted shall constitute an ELEVANCE’s Quantity Deficit for the given month. Any actual demurrage costs incurred by KOLMAR
as result of ELEVANCE’s exercise of this provision will be paid by ELEVANCE to KOLMAR upon ELEVANCE’s receipt of KOLMAR’s invoice. 

  

	10.3	KOLMAR’s Quantity Deficit. Should there be a KOLMAR’s Quantity Deficit in a given month, and should KOLMAR desire to have a quantity of Supplied
Product be converted to KOLMAR’s Finished Product in the immediately subsequent month that is sufficient to make-up the applicable KOLMAR’s Quantity Deficit incurred in the previous month, ELEVANCE shall, upon notice from KOLMAR of such
interest, increase ELEVANCE’s Quantity Obligation in the subsequent month by [***], or by the amount of the Quantity Deficit caused by KOLMAR, whichever is lower, in order to allow KOLMAR to make-up that Quantity Deficit.

  

	 	10.3.1	Should KOLMAR fail to elect to make-up the applicable KOLMAR’s Quantity Deficit, as per § 10.3, ELEVANCE has no obligation to convert any additional Supplied
Product to KOLMAR’s Finished Product, and the amount of KOLMAR’s Quantity Deficit incurred in the given month shall aggregate through the Term. 

  

	 	10.3.2 	Should KOLMAR notify its intent to make-up the applicable KOLMAR’s Quantity Deficit incurred in a given month, it must notify ELEVANCE of this interest within the
first seven (7) days of the immediate subsequent month. 

 ARTICLE 11 

RENEWABLE IDENTIFICATION NUMBERS 
  

	11.1	 	Renewable Identification Numbers (“RINS”). If KOLMAR’s Finished Product produced under this Agreement qualifies, then in accordance
with applicable laws, ELEVANCE shall generate RINs pursuant to Title 40, Part 80 in general and Part 80.1101 (o) in particular, of the U.S. Code of Federal Regulations U.S. 40 C.F.R., Part 80 (the “CFR”) amended from time to time.
ELEVANCE shall supply to KOLMAR such RINs, in units of “gallon-RINs,” as such terms are defined in the CFR’s Subsections 80.1101 or 80.1401, as applicable, at a ratio of 1.5 gallon-RIN per gallon of KOLMAR’s Finished Product
produced pursuant to this agreement. ELEVANCE shall transfer such RINs to KOLMAR promptly at the conclusion of each Production Campaign. All RINs must be current to each delivery date biodiesel RINs. KOLMAR represents and warrants that the RFS-2
product will be used to replace or reduce the quantity of fossil fuel present in a transportation fuel, heating oil, or jet fuel. Further, RINs generated shall meet the following criteria as specified in the CFR’s subsection M (the “RFS-2
Regulations”) if KOLMAR’s Finished Product produced under this Agreement meets all of the requirements of applicable law and regulations to qualify for the RINs certification described herein: 

 

	 	(a)	Assignment code: “K” code of “1”; 

  

	 	(b)	Program type: RINs generated under the RFS-2 Regulations; 

  

	 	(c)	RIN category: “D” code of 4; and, 

  

	 	(d)	Vintage: Generated in the calendar year in which KOLMAR’s Finished Product is delivered into tank trucks, rail cars, or barges per the terms of this Agreement.

  

	11.2	 	If requested by KOLMAR, ELEVANCE will provide to KOLMAR the following documentation within five (5) Business Days after ELEVANCE’s submission of such
documentation to the U.S. Environmental Protection Agency (“EPA”): 

  

	 	(a)	ELEVANCE’s RIN generation and, or RIN transaction reports (including any resubmittals); 

 

	 	(b)	EPA report forms RFS-0400 and RFS-0200 (or any subsequent successor), respectively, evidencing the RINs generated pursuant to this agreement, reasonably redacted by
ELEVANCE to protect confidential business information; and, 

  
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	 	(c)	Relevant portions of ELEVANCE’s EPA attestation engagement report(s) reasonably redacted by ELEVANCE to protect confidential business information.

  

	11.3	 	If requested by KOLMAR, ELEVANCE will provide KOLMAR with a copy of its draft RIN transaction report – EPA report form RFS-0200, documenting this transaction, at
least ten (10) Business Days prior to the EPA submission deadline. The report may be reasonably redacted by ELEVANCE to protect confidential business information. 

 

	11.4	 	ELEVANCE will issue a PTD for RINs to KOLMAR. ELEVANCE will initiate the transfer of RINs via the EPA moderated transaction system (“EMTS”) within two
(2) Business Days of the delivery of KOLMAR’s Finished Product from KOLMAR’s Finished Product Tanks into tank trucks, rail cars, or barges for delivery to KOLMAR’s customer(s). KOLMAR shall subsequently complete the transfer of
RINs via EMTS within five (5) Business Days. 

  

	11.5	 	KOLMAR’s Finished Product and RINs sold hereunder shall be transferred in full compliance with all applicable law, as defined herein, including but not limited to
the RFS regulations. ELEVANCE and KOLMAR shall maintain appropriate records that demonstrate compliance with applicable law and industry standards. To the extent permitted by applicable law, each Party also shall immediately notify the other Party
in writing of any violation or alleged violation with respect to KOLMAR’s Product and RINs sold hereunder and, upon reasonable request, shall provide the other with evidence of inspections or audits by any governmental authority with respect to
such product or RINs. 

  

	11.6	 	For the purpose of this ARTICLE 11, “applicable law” means any domestic (U.S.) law, statute, regulation, code, rules, ordinance, license, decision, order,
writ, injunction, decision, directive, judgment, policy, decree and any judicial or administrative interpretations thereof, any agreement, concession or arrangement with any governmental authority, any license, permit or compliance requirement
applicable to the applicable Party, and any amendments or modifications to the foregoing, whether federal, state, or local. Each Party shall maintain the records required to be maintained by applicable law and shall make such records available to
the other Party upon its request, which records may be redacted as necessary to protect confidential and, or proprietary information. 

  

	11.7	 	If ELEVANCE fails to transfer valid RINs to KOLMAR in accordance with this agreement through its fault, and without fault of KOLMAR or as a result of a force majeure
event described in § 16.16, then upon written notice from KOLMAR and at KOLMAR’s sole discretion ELEVANCE shall, at its election, for each valid gallon-RIN that ELEVANCE failed to transfer: (a) timely provide gallon-RINs of the same
type and vintage year as specified in this agreement; or (b) pay KOLMAR the market price, as reasonably determined by KOLMAR as of the date of KOLMAR’s notice, for gallon-RINs of the same type and vintage year as specified in this
Agreement. The remedies provided in this § 11 shall be the exclusive rights and remedies of the Parties under this Agreement, by operation of law or otherwise in connection with ELEVANCE’s failure to transfer valid RINs to KOLMAR.

  

	11.8	 	The Parties acknowledge and agree that ELEVANCE shall only be responsible for providing to KOLMAR the RINs specified herein if the Supplied Product qualifies for such
RINs under applicable laws. KOLMAR shall provide to ELEVANCE such information as reasonably requested by ELEVANCE in order for ELEVANCE to verify that the Supplied Product is eligible for RINs under applicable laws. 

ARTICLE 12 

QUANTITY AND QUALITY TESTING AND MEASUREMENT 
  

	12.1	 	Quantity Measurement. Should, under the terms of this provision, ELEVANCE and KOLMAR engage the services of an independent inspector (“Inspector”), the
Inspector’s fees are to be shared equally between the Parties, unless otherwise stipulated herein. The Inspector shall measure and verify the quantities of Supplied Product delivered to the Plant and KOLMAR’s Finished Product converted
from Supplied Product (“Quantity Determinations”) as per § 16.3 and as follows: 

  
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	 	(a)	Supplied Product – On the last day of each month and at the same time each month, ELEVANCE shall measure the quantity of Supplied Product in storage in
KOLMAR’s Supplied Product Tanks and deliver a report with the data to KOLMAR. The data in such reports shall constitute the ending inventory of Supplied Product delivered to the Plant each month. The conversion of gallons to pounds shall
reflect a measurement at sixty degrees Fahrenheit (60°F), or by default, using the specific gravity of 7.69 pounds per gallon. KOLMAR reserves the right to engage an Inspector on the last day of any given month to verify ELEVANCE’s monthly
Quantity Determinations, or the calibration of ELEVANCE measurement devices. KOLMAR will pay the full costs of the Inspector if KOLMAR exercises this right more than two times during the Term. 

 

	 	(b)	KOLMAR’s Finished Product – On the last day of each month and at the same time each month, ELEVANCE shall measure the quantity of KOLMAR’s
Finished Product in storage in KOLMAR’s Finished Product Tanks and deliver a report with the data to KOLMAR. The data in such reports shall constitute the beginning and ending inventory of KOLMAR’s Finished Product converted from Supplied
Product each month. The conversion of gallons to pounds shall reflect a measurement at sixty degrees Fahrenheit (60°F), or by default, using the specific gravity of 7.35 pounds per gallon. KOLMAR reserves the right to engage an Inspector on the
last day of any given month to verify ELEVANCE’s monthly Quantity Determinations, or the calibration of ELEVANCE measurement devices. KOLMAR will pay the full costs of the Inspector if KOLMAR exercises this right more than two times during the
Term. 

  

	 	(c)	Deliveries into Barges – The quantity of KOLMAR’s Finished Product delivered into barges shall be measured by the Inspector who will generate a
quantity certificate for each delivery and submit it to ELEVANCE and KOLMAR. The quantity of KOLMAR’s Finished Product to be delivered from or into barges shall be determined in accordance with the API and, or ASTM rules, or other applicable
standards. 

  

	 	(d)	Deliveries of KOLMAR’s Finished Product into Rail Cars, and Tank Trucks – The quantity of KOLMAR’s Finished Product delivered into rail cars and
tank trucks shall be measured by ELEVANCE who will generate a quantity certificate for each delivery and submit it to KOLMAR. The quantity of KOLMAR’s Finished Product to be delivered from or into tank trucks or rail cars shall be made in
accordance with the API and, or ASTM rules, or other applicable standards. The quantity to be used for bill of lading (but not invoices, which are based on processed amounts) shall be based on the net gallons loaded into KOLMAR’s tank trucks,
rail cars, or barges, as evidenced by certificates of quantity. 

  

	 	12.1.1	The quantity of the Product delivered hereunder shall be corrected for temperature to sixty degrees Fahrenheit (60° F) in accordance with the latest API Standard or
ASTM Standard. All measurements and, or tests shall be made in accordance with the latest standards and, or guidelines published by the API or ASTM and in effect relative to meter calibration and accuracy; provided, however, that in the event a
governmental agency with jurisdiction requires a certain standard of measurement to be utilized in a given situation, that standard shall be used. All meters used for measurements shall be proven every sixty (60) calendar days throughout the
Term. ELEVANCE shall, upon request allow KOLMAR to review and copy relevant meter proving records. 

  

	12.2	Inspector’s Quantity Measurements. Quantity measurements of Supplied Product stored in KOLMAR’s Supplied Product Tanks and KOLMAR’s Finished
Product stored in KOLMAR’s Finished Product Tanks made by an Inspector shall be final and binding unless there exists negligence, fraud, willful misconduct, or manifest error. 

 

	12.3	 Quality Determinations. Subject to § 16.2 and the language in this provision, ELEVANCE shall test the quality of the Supplied Product upon
discharge into KOLMAR’s Supplied Product Tanks. ELEVANCE shall test the quality of KOLMAR’s Finished Product after the completion of each Production Campaign to determine compliance with the required Biodiesel Specification at its on-site
laboratory or by an outside laboratory mutually agreed upon by the Parties (provided that Intertek in Deer Park, Texas is hereby approved) and in accordance with BQ9000 requirements. Any and all costs associated with testing

  
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performed at a third party facility to ensure compliance with the Biodiesel Specification shall be ELEVANCE’s responsibility. 

 

	 	12.3.1	KOLMAR reserves the right to, from time to time and at is sole expense, engage an Inspector to verify quality determinations of Supplied Product stored in KOLMAR’s
Supplied Product Tanks and KOLMAR’s Finished Product stored in KOLMAR’s Finished Product Tanks. 

  

	 	12.3.2	Notwithstanding § 12.3.1, KOLMAR and ELEVANCE shall engage an Inspector to determine the quality of all of KOLMAR’s Finished Product to be delivered into
barges. 

  

	12.4	Inspector’s Quality Determinations. Quality determinations of KOLMAR’s Supplied Product in KOLMAR’s Supplied Product Tanks and KOLMAR’s
Finished Product made by an Inspector shall be final and binding unless there exists negligence, fraud, willful misconduct, or manifest error. 

  

	12.5	Challenges to Quantity Measurements and Quality Determinations. In the event that either Party has cause to challenge the quantity or quality of Product
delivered to it pursuant to this Agreement, that Party shall promptly, after the date when the alleged non-compliance was discovered, or reasonably should have been discovered, but in no event no later than five (5) calendar days after
commencement of discharge or loading, as applicable, give written notice to the other Party specifying the nature of its challenge. The Parties agree to negotiate in respect of any challenge by either Party filed in accordance with this provision.

 ARTICLE 13 
 CUSTODY, INDEMNITY, AND INSURANCE 
  

	13.1	Custody and Indemnity. During the period of time that ELEVANCE has possession and custody of either Supplied Product or the KOLMAR’s Finished Product,
ELEVANCE agrees: 

  

	 	(a)	To adequately store and keep harmless from any loss or damage, no matter the cause of such loss or damage (except when loss or damage is caused by a breach by KOLMAR of
its obligations hereunder), the Supplied Product and KOLMAR’s Finished Product, and 

  

	 	(b)	To keep KOLMAR harmless from and to indemnify KOLMAR to the extent of the value of KOLMAR’s Product, and KOLMAR’s Product under ELEVANCE’s control, in
case it incurs any losses due to any loss or damage to KOLMAR’s Product, no matter the cause for such loss or damage (except when loss or damage is caused by a breach by KOLMAR of its obligation hereunder). 

 

	13.2	Insurance. ELEVANCE shall maintain insurance as set forth below to adequately protect the value of the Supplied Product and KOLMAR’s Finished Product, at
all times while it holds KOLMAR’s Product in its custody. 

  

	 	13.2.1	ELEVANCE shall secure and maintain sufficient insurance to cover all of KOLMAR’s Product in its custody and to maintain and provide liability insurance protection
with regard to any loss or damage of KOLMAR’s Product, no matter the cause for such loss or damage (except for loss or damage caused by a breach of KOLMAR) in an amount of not less than fifteen million U.S. dollars (U.S. $15,000,000), with an
insurer or insurers reasonably acceptable to KOLMAR and its financing bank or banks and naming KOLMAR and its financing bank or banks as an additional insured party and loss payee as to the KOLMAR’s Product. ELEVANCE shall provide written
evidence of such insurance to KOLMAR from time to time upon KOLMAR’s request. 

  

	 	13.2.2	The amount to be insured shall be reviewed regularly and adjusted to be in line with prevailing market conditions as mutually agreed between the Parties (Additional
indemnity information is provided in § 16.13). 

  

	 	13.2.3	ELEVANCE shall, at its sole expense, carry and maintain in full force and effect throughout the Term of this Agreement insurance coverages with insurance companies or
reinsurers rated not less than A-, IX by A.M. Best, or otherwise reasonably satisfactory to KOLMAR, of the following types and amounts: 

  
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	 	(a)	Employer’s Liability coverage in a minimum amount of U.S. $1million per accident; 

 

	 	(b)	Property and casualty coverage in a minimum amount of U.S. $1 million; 

  

	 	(c)	Comprehensive or commercial general liability coverage including contractual liability and completed operations liability which shall not be less than U.S. $10 million,
in the event of bodily injury and, or property damage. The insurance cover will be with a reputable insurer with an S&P rating of A. ELEVANCE shall also have in place insurance which includes coverage for bodily injury, broad form property
damage and contractual liability and any liabilities under any environmental laws or for any environmental damages and “sudden and accidental pollution” liability coverages (excluding events that result in acidic deposition), with policy
limits no lower than those required by applicable law. 

  

	 	13.2.2	ELEVANCE shall provide KOLMAR with a copy of all the insurance covers in place within thirty (30) calendar days of each renewal and shall give written notice at
least thirty (30) calendar days prior to any material change of said insurance. The compensation amount for the goods shall be equivalent to the prevalent market price for loss of or damage to Supplied Product or KOLMAR’s Finished Product
at the time of occurrence.12.2.3 ELEVANCE also shall provide renewal certificates within thirty (30) calendar days of expiration of the policy under which coverage is maintained. 

 

	 	13.2.3	ELEVANCE may satisfy the foregoing obligations through insurance coverages obtained by its parent company that meet the foregoing obligations and that cover ELEVANCE.

 ARTICLE 14 
 CONTACTS 
  

	14.1	Contacts. The Parties shall send all relevant documents regarding the purchases under this Agreement, and all operational communications for such purchases, to
the following individuals: 

  

							
	 KOLMAR:
	  		  		  	
	 Business Transactions
	  	[***]	  	Phone:	  	[***]
		  	[***]	  	Fax:    	  	[***]
		  	[***]	  		  	
		  	[***]	  		  	
	 Operations
	  	[***]	  	Phone:	  	[***]
		  	[***]	  	Fax:    	  	[***]
		  	[***]	  		  	
		  	[***]	  		  	
	 ELEVANCE:
	  		  		  	
	 Business Transactions
	  	[***]	  	Phone:	  	[***]
		  	175 E. Crossroads Pkwy	  	Fax:    	  	[***]
		  	Bolingbrook, IL 60440	  		  	
		  	[***]	  		  	
	 Operations
	  	[***]	  	Phone:	  	[***]

  
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 [***] Indicates that text has been omitted which is the subject of a confidential treatment request.
The text has been separately filed with the Securities and Exchange Commission. 
 Kolmar and Elevance and Product Conversion
Agreement 
  

			
	 	    	 
	 175 E. Crossroads Pkwy
	    	Fax:         [***]
	Bolingbrook, IL 60440	    	
	 [***]
	    	

 ARTICLE 15 
 DOCUMENTATION 
  

	 	15.1	 By the third
(3rd) Business Day of each month, ELEVANCE shall
supply KOLMAR a document containing the following data for activities that occurred the previous month: 

  

	 	(a)	The quantity of Supplied Product received by ELEVANCE; 

  

	 	(b)	The quantity of Supplied Product stored in the KOLMAR’s Supplied Product Tank; 

 

	 	(b)	The quantity of Supplied Product transferred from KOLMAR’s Supplied Product Tanks to ELEVANCE’s production unit for conversion to KOLMAR’s Finished
Product; 

  

	 	(c)	The quantity of KOLMAR’s Finished Product transferred from ELEVANCE’s production unit into KOLMAR’s Finished Product Tanks; 

 

	 	(d)	The quantity of ELEVANCE’s Product produced during a given month; 

  

	 	(e)	The Actual Yield of each Production Campaign of Supplied Product into KOLMAR’s Finished Product; 

 

	 	(f)	The variance between the Actual Yield and Guaranteed Yield for each Production Campaign; 

 

	 	(g)	The quantity of KOLMAR’S Finished Product stored in KOLMAR’S Finished Product Tanks; 

 

	 	(h)	The quantity of ELEVANCE’s Feedstock stored in ELEVANCE’s Feedstock Tanks; 

 

	 	(i)	The quantity of ELEVANCE’s Finished Product stored in ELEVANCE’s Finished Product Tanks; 

 

	 	(j)	The quantity of ELEVANCE’s Finished Product delivered to KOLMAR to meet ELEVANCE’s Monthly Quantity Obligation; 

 

	 	(k)	The quantity of ELEVANCE’s Finished Product sold; 

  

	 	(l)	The tabulation of the Conversions Fee; and, 

  

	 	(m)	The tabulation of any Quantity Deficit caused by KOLMAR or ELEVANCE during the month. 

 

	 	15.1.1	Notwithstanding the foregoing, if there is any Quantity Deficit in a given month, ELEVANCE may, at its election, (i) submit the foregoing data in accordance with
the timeframe specified above, in which case ELEVANCE may resubmit or supplement the foregoing data after the seven (7) day grace period following the conclusion of the month in which the applicable Quantity Deficit arose to address the
processing of additional Supplied Product or ELEVANCE’s Feedstock or the supply by ELEVANCE to KOLMAR of any ELEVANCE’s Finished Product to meet any Quantity Deficit or a portion thereof, or (ii) delay in providing the required data
set forth above until after the conclusion of the seven (7) day grace period to account for the processing of additional Supplied Product or ELEVANCE’s Feedstock or the supply by ELEVANCE to KOLMAR of any ELEVANCE’s Finished Product
to meet any Quantity Deficit or a portion thereof, in which case the foregoing data shall be due three (3) Business Days after the conclusion of such seven (7) day grace period. 

  
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 ARTICLE 16 
 ADDITIONAL TERMS AND CONDITIONS 
  

	16.1	Definitions and Interpretations. Terms used in this Agreement with initial capital letters and not otherwise defined herein shall have the
following definitions: 

 “API” means the American Petroleum Institute. 

“ASTM” means the American Society for Testing Materials. 

“API Standard” and “ASTM Standard” mean the API (American Petroleum Institute) and ASTM (ASTM International, formerly
known as the American Society for Testing and Materials) standard references in effect as of the date of the Effective Date. If such standards are revised or modified during the timing for completing the transaction, the revised or modified
standards shall apply only after such revisions or modifications have been evaluated and accepted by the Parties. 
 “EN
14214” means the European Standard that describes the requirements and test methods for FAME (fatty acid methylester). 

“Incoterms” means Incoterms 2010 of the International Chamber of Commerce (“ICC”) as published in ICC Publication
No. 715E (ISBN: 978-92-842-0080-1), entry into force January 1, 2011. 
 “DAP” means
Delivered at Place as described in Incoterms® (2010 edition). 

“FOB” means Free On Board as described in Incoterms® (2010 edition). 
 “Product” shall
mean either the Supplied Product, KOLMAR’s Finished Product, and, or ELEVANCE’s Finished Product. 
 “Renewable
Identification Number or RINs shall mean a unique number generated to represent a volume of renewable fuel pursuant to U.S. Code of Federal Regulations, Section 40, Subsections Parts 80.1125 and 80.1126. 

“Business Day” means a day that is not a Saturday, Sunday, or U.S. National holiday. 

“Parties” mean KOLMAR and ELEVANCE as identified in this Agreement. 

 

	16.2	Quality Measurement. The quality of the Product delivered hereunder shall be determined by an appropriate sample taken from the tank, tank truck, tank car, or
barge, as applicable. The applicable tests and test methods shall be in accordance with the specifications provided herein. Determinations as to the quantity and quality of the Supplied Product and KOLMAR’s Finished Product made by an
Inspector, if different from those determinations made by ELEVANCE shall be conclusive and binding as to the determinations made, provided such determinations were made in the absence of negligence, willful misconduct, fraud, or manifest error, as
conclusive and binding. 

  

	16.3	Quantity Measurement Methods. Unless otherwise agreed, quantity measurements for bills of lading (but not invoicing) are to be made pursuant to the mode of
transit as follows: 

  

	 	16.3.1	Tank Truck. The quantity of Product delivered into or from tank trucks shall be measured using calibrated scales located at or near the delivery point or, if
such scales are unavailable, by applicable measuring sticks. 

  

	 	16.3.2	Rail Car. The quantity of Product delivered into or from rail cars shall be measured using calibrated meters located at or near the delivery point or, if such
meters are unavailable, by certified calibrated scales, or applicable calibration tables. 

  

	 	16.3.3	Tank to Tank Transfer. The quantity of Product delivered from one tank to a different tank shall be measured using the calibrated shore tank gauges for the
applicable shoretank based on the delivery method stipulated herein. 

  

	 	16.3.4	 Barge: The quantity of Product delivered into or from barges shall be determined by proven meters, in the immediate vicinity of the delivery
location at the designated point of custody and title transfer. If meters are unavailable, not proven, not functioning correctly, or determined by the Inspector to be inaccurate or otherwise not to represent the volume delivered to or from the
vessel 

  
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or barge, then the quantity shall be based on static shore tank measurements. If the shore tank(s) is, or are active, or a shore tank, before receipt or after delivery, contains less than one
(1) foot of Product, or the Inspector cannot verify the shore tank measurements prior to, or after delivery, or the Inspector determines that the shore tank(s) measurements are inaccurate or otherwise not representative of the volume delivered
to or from the vessel or barge, then the quantity shall be determined by the vessel or barge quantities less any OBQ (on-board quantity) or ROBQ (remaining on-board quantity), adjusted for vessel or barge load experience factors, if available. If no
vessel or load experience factors are available, the quantity shall be determined by the vessel or barge quantities adjusted for OBQ or ROBQ. 

  

	16.4	Use of Quantity and Quality Measurements. The results of quantity and quality measurements, sampling, and testing obtained at discharge or loading, as applicable
by an Inspector shall be treated, in the absence of negligence, willful misconduct, fraud, or manifest error, as conclusive and binding as to the quantity and quality of the Product discharged or loaded. If an Inspector is engaged, the fees for the
Inspector’s work shall be mutually shared by the Parties. In the event that either Party has cause to challenge the quantity or quality of Product delivered to it pursuant to this Agreement, that Party shall promptly, after the date when the
alleged non-compliance was discovered, or reasonably should have been discovered, but in no event no later than five (5) calendar days after commencement of discharge or loading, as applicable, give written notice to the other Party specifying
the nature of its challenge. The Parties agree to negotiate in respect of any challenge filed in accordance with this provision. 

  

	16.5	Delivery Conditions. The following conditions shall apply to the mode of transit used for delivery: 

 

	 	16.5.1	Tank Truck. Tank truck deliveries to the Plant or to tank trucks for delivery to KOLMAR’s customer(s) shall be made within the delivering facility’s
usual business hours and at such times as may be required by the receiving Party, provided that reasonable advance notice of such delivery times has been given by the receiving Party. At the time of giving notice, the receiving Party shall furnish
the delivering Party all necessary shipping instructions. Tank truck deliveries will be made pursuant to the delivering Party’s access and carrier loading provisions. Equipment for tank trucks shall be handled with maximum expediency by both
Parties and any delay beyond specified allowed laytime for the type of equipment used shall be paid for at the then current rate for such equipment. Costs for delays incurred by the tank truck, including but not limited to detention, shall be borne
by the Party causing such delays. 

  

	 	16.5.2	Rail Car. Rail car deliveries to the Plant or to rail cars for delivery to KOLMAR’s customer(s) shall be made within the delivering facility’s usual
business hours and at such times as may be required by the receiving Party, provided that reasonable advance notice of such delivery times has been given by the receiving Party. At the time of giving notice, the receiving Party shall furnish the
delivering Party all necessary shipping instructions. Rail car deliveries will be made pursuant to the delivering Party’s access and loading provisions. Rail car equipment shall be handled with maximum expediency by both Parties and any
unloading delay beyond seven (7) calendar days after constructive placement at the receiving facility shall be paid for at the rate of U.S. $75 per day by the Party causing the delay. 

 

	 	16.5.3	Barge: Unless otherwise stipulated in this Agreement, liability for demurrage incurred by the barge shall be borne in accordance with the applicable agreement
regarding barge acceptance. In the absence of an agreement reached at the time of barge nomination, laytime allowed and demurrage shall be as per the applicable Charter Party rate, terms and conditions. In the absence of a Charter Party, for use of
reference, the market demurrage rate and laytime allowed for a similar size barge on a similar voyage with a similar cargo will apply. Barge or tow equipment shall be handled with maximum expediency by both Parties and any delay beyond a typically
allowed laytime for the type of equipment used shall be paid for at the then current rate for such equipment, or if the equipment is under charter, at the rate provided for in such charter contract. 

 

	16.6	 Demurrage and Transit Delayed Claims. Demurrage and transit delay claims must be submitted in writing, with supporting documentation of the
details of the claims, within sixty (60) calendar days after the completion of discharging or loading, whichever is applicable. IF THE DEMURRAGE OR TRANSIT DELAY CLAIM IS NOT PROVIDED, WITH ALL SUPPORTING DOCUMENTATION, WITHIN THE

  
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SPECIFIED TIME, THE CLAIM WILL BE DEEMED FOREVER WAIVED AND BARRED. Demurrage and transit delay claims must be accompanied by supporting documentation, including but not limited to an invoice; a
laytime and demurrage calculation; the applicable Notice of Readiness; and, copies of all available Timesheets, Port Logs, Statement of Facts, Protest Letters, and Pump Logs, each duly signed and stamped by the relevant parties (provided signatures
are obtainable). NO CLAIMS FOR SPECIAL, INDIRECT, OR CONSEQUENTIAL DAMAGES OF ANY TYPE OR NATURE SHALL BE MADE BY EITHER PARTY RELATING TO DEMURRAGE OR TRANSIT DELAYS. 
  

	16.7	Transportation Equipment. Either Party may decline to load, unload, or permit loading or unloading of any equipment which it determines through the engagement of
the Inspector, or by a governmental or regulatory authority to be contaminated, not suitable for carrying the Product, not approved by vetting entities of either Party, unsafe, or not in compliance with any governmental health, environmental or
safety regulation. 

  

	16.8	Material Safety Data Sheets. Each Party represents to the other Party that it has provided or will provide, upon request, all appropriate Material Safety Data
Sheets (“MSDS”), labels and updated information for the Supplied Product and KOLMAR’s Finished Product as appropriate, in accordance with the applicable requirements of the Occupational Safety and Health Administration. As the Product
may be hazardous, ELEVANCE shall acquire the requisite knowledge for safe handling, processing, storage, transportation, and sale of the Product. 

  

	16.9	Tax Liability. Any and all taxes, fees or other charges imposed or assessed by governmental or regulatory bodies, the taxable incident of which is the transfer
of title or the delivery of the Product sold hereunder, or the receipt of payment therefore, regardless of the character, method of calculation or measure of the levy or assessment, shall be paid by the Party upon whom the tax, fee or charge is
imposed by law, except that the Parties shall reimburse each other for any and all federal, state, and local excise, gross receipts, import, motor fuel, superfund and spill taxes and all other federal, state, and, or local taxes, other than taxes on
income, paid or incurred by the affected Party that directly result from a transaction involving a Product hereunder and, or on the value thereof. Notwithstanding the preceding sentence, any and all tax liability hereunder shall accrue only to the
Party where that Party’s Product transaction causes such a tax liability. Furthermore, each Party shall: (a) upon receipt of the other Party’s invoice in accordance with the above, pay or reimburse the invoicing Party for any such
taxes, fees, or charges the invoicing Party is required by law to pay, and (b) provide the invoicing Party upon demand, with a valid exemption certificate prior to delivery, that it is licensed to engage in tax free transactions with respect to
the Product under all federal, state, and, or local laws which may apply to this Agreement and the Products bought and sold hereunder. 

  

	16.10 	Audit: At any time, KOLMAR shall, through a duly authorized representative have access to the accounting records and other documents maintained by ELEVANCE which
relate to ELEVANCE’s conversion of Supplied Product into KOLMAR’s Finished Product, and the RINs being transferred under this Agreement. KOLMAR shall have the right to audit such records during normal business hours at the location at
which they are regularly kept during the Term and for a period of six (6) months after expiration of this Agreement. 

  

	16.11 	Representations and Warranties. Each Party represents and warrants that: 

 

	 	(a)	It has the legal capacity, authority and power to execute, deliver, and perform the obligations under this Agreement, and, 

 

	 	(b)	Its obligations under this Agreement constitute legal, valid, and binding obligations, enforceable in accordance with their respective terms and conditions (subject to
applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of general application regardless of whether enforcement is sought in
a proceeding in equity or at law). 

 Further: 

 

	 	(a)	KOLMAR represents and warrants that it has good and marketable title in the Supplied Product and that it is not restricted from supplying the Supplied Product to
ELEVANCE for conversion hereunder; 

  

	 	(b)	ELEVANCE represents and warrants that the KOLMAR’s Finished Product will conform in all material respects to the Biodiesel Specification; 

  
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	 	(c)	With respect to RINs transferred hereunder: 

	 	(i)	KOLMAR warrants that it will use, transfer, or retire the RINs in compliance with the RFS regulations and all other applicable law. 

 

	 	(ii)	ELEVANCE warrants that: 

  

	 	1.	Assuming the Supplied Product complies with all applicable laws and regulations, the RINs were properly generated or are otherwise valid pursuant to the RFS
regulations, and ELEVANCE has the right to transfer such RINs pursuant to the RFS regulations; 

  

	 	2.	ELEVANCE has good and marketable title to the RINs, and such RINs are free and clear of any claims, liens, charges, encumbrances, pledges or security interests
whatsoever; 

  

	 	3.	The RINs have not been previously transferred by ELEVANCE to any other party, unless reacquired by ELEVANCE prior to their transfer to KOLMAR; and,

  

	 	4.	ELEVANCE has not taken any action or made an omission that would prohibit or limit KOLMAR’s use of the RINs. 

 

	 	(d)	KOLMAR and ELEVANCE agree that the warranties made under this Agreement shall survive any payments of fees due under this Agreement; and, 

 

	 	(e)	KOLMAR and ELEVANCE agree that EXCEPT FOR THE WARRANTIES EXPRESSLY SET FORTH ABOVE, THERE ARE NO WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AND THAT ALL OTHER
WARRANTIES, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND SUITABILITY ARE DISCLAIMED. 

  

	16.12	Limitation of Liabilities. SUBJECT TO THE PROVISION DETAILED IN ARTICLE 9, NEITHER PARTY WILL BE LIABLE FOR DAMAGES ASSOCIATED WITH A BREACH OF THIS CONTRACT
THAT THE BREACHING PARTY COULD NOT REASONABLY HAVE FORESEEN ON ENTRY INTO THIS AGREEMENT. NOTWITHSTANDING THE ABOVE, NEITHER PARTY WILL BE LIABLE FOR, SPECIAL, PUNITIVE, EXEMPLARY, OR OTHER INDIRECT DAMAGES, OR LOST PROFITS, LOSS OF BUSINESS OR
CUSTOMERS, LOSS OF USE, LOSS OF GOODWILL, REPUTATIONAL HARM, OPPORTUNITY COSTS, INTEREST OR FINANCE CHARGES, OR LOSS OF REVENUE, IN EACH CASE ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE PERFORMANCE, THE SUSPENSION OF PERFORMANCE, THE FAILURE TO
PERFORM, OR THE TERMINATION OF THIS AGREEMENT. EACH PARTY ACKNOWLEDGES THE DUTY TO MITIGATE DAMAGES. WITHOUT LIMITING THE FOREGOING AND NOTWITHSTANDING ANYTHING IN THIS AGREEMENT TO THE CONTRARY, IN THE EVENT OF ANY ELEVANCE’S QUANTITY DEFICIT
HEREUNDER, KOLMAR’S SOLE AND EXCLUSIVE REMEDY WITH RESPECT TO SUCH QUANTITY DEFICIT SHALL BE RECOVERY OF $0.30 PER GALLON IN ACCORDANCE WITH § 10.1(b) AND RECEIPT OF PAYMENT FOR FEEDSTOCK ASSOCIATED WITH ANY YIELD DEFICIT AT THE END OF THE
TERM IN ACCORDANCE WITH § 6.4(c); PROVIDED, HOWEVER, THAT KOLMAR MAY ALSO RECOVER ALL INCIDENTAL COSTS THAT RESULT FROM AN ELEVANCE’S QUANTITY DEFICIT. 

 

	16.13	 Indemnification. Except as otherwise limited by other provisions herein, each Party agrees to indemnify, defend, and hold harmless the other
Party from any and all actions, causes of action, claims, demands, costs, fines, penalties, liabilities, expenses, damages, judicial or administrative proceedings, settlements, losses and expenses, (including reasonable attorney’s(s’) fees
and litigation related expenses) arising out of, or in conjunction with, any third party claim: (a) for injury to or death of any person, or for damage to any real, personal, or intellectual property, to the extent arising out of or in
connection with the indemnifying Party’s gross negligence or willful misconduct; (b) to the extent arising out of or in connection with the gross negligence or willful misconduct of the indemnifying Party; (c) for any breach of the
representations or warranties expressed under this Agreement by the indemnifying Party; or, (d) for any failure of the indemnifying Party to comply with any applicable laws, rules, regulations, ordinances, codes or orders of public authority in
connection with its performance hereunder. This indemnification shall survive termination or the conclusion of this Agreement. If the Parties are jointly or concurrently negligent, each Party shall indemnify the other Party only to the extent of its
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misconduct. Each Party agrees to notify the other Party as soon as practicable after receiving notice of any claim that could result in a suit brought against it for which it may seek indemnity
under this Agreement and each Party shall provide to the other Party all material details within its knowledge and render all reasonable assistance requested by the other Party for its defense. Each Party shall have the right, but not the duty, to
participate, at its own expense, with counsel of its own selection, in the defense and settlement thereof without relieving the other Party of any obligation under this Agreement. 

 

	16.14	Breach or Default. If a Party (the “Defaulting Party”) or its surety or guarantor: (a) becomes the subject of bankruptcy or other insolvency
proceedings or proceedings for the appointment of a receiver, trustee or similar official; (b) becomes insolvent or bankrupt (however evidenced), or is generally unable to pay its debts as they become due, including any outstanding debts to the
other Party to this Agreement; (c) proposes to make or makes a general assignment for the benefit of creditors; (d) is liquidated or proposes to dissolve or is dissolved; (e) transfers a majority of its assets or business to, merges
or consolidates with, any other entity where the transferee or successor entity does not assume the obligations of the Defaulting Party under this Agreement, by operation of law or otherwise; (f) fails to make a payment when due or within three
(3) calendar days thereafter; or, (g) materially breaches or materially defaults in the performance in any other term of this Agreement (which precludes acts and, or omissions addressed in this Agreement for which a specified remedy is set
forth in this Agreement), then an “Event of Default” shall be deemed to have occurred. Should an Event of Default occur, the non defaulting Party may, at its option and in addition to any other remedies herein or available at law or in
equity may immediately suspend performance under this Agreement or terminate this Agreement by written notice sent to the Defaulting Party; provided, however, that a Party that has committed an Event of Default under (g) above shall have a
fifteen (15) day period to cure such Event of Default after receipt of notice of breach or default by the other (non-defaulting) Party, except in cases in which an express cure period is otherwise set forth in this Agreement (in which case such
other cure period shall apply). Termination of this Agreement by either Party shall not affect the confidentiality rights and obligations of the Parties under this Agreement. 

 

	16.15	Liquidation and Close-Out. The Parties agree that this Agreement and all transactions pursuant hereto are forward contracts or swap agreements as defined in the
U.S. Bankruptcy Code. The Parties further agree: 

  

	 	(a)	That if an Event of Default of the type set forth in (a) through (d) of § 16.14 has occurred, the non-defaulting Party may, by notice to the Defaulting
Party, and without limiting any other rights that may be available to the non-defaulting Party under this Agreement or otherwise, (i) immediately withhold or suspend deliveries under this Agreement and all other transactions between the Parties
and their affiliates (but the non-Defaulting Party shall still be responsible for making payments of validly invoiced amounts due hereunder), or (ii) terminate, liquidate or close out this Agreement and all other transactions between the
Parties and their affiliates, except for such transactions covered by a master energy price swap agreement and transactions, if any, that may not be liquidated and terminated under applicable law or that are, in the reasonable opinion of the
non-defaulting Party, commercially impracticable to liquidate and terminate (“Excluded Transactions”), which Excluded Transactions may be liquidated and terminated as soon thereafter as is reasonably practicable and valued consistent with
this Agreement; 

  

	 	(b)	The termination, liquidation, and close-out of this Agreement and all other transactions between the Parties and their affiliates is in addition to any other rights and
remedies which the non-defaulting Party and its affiliates may have. A Party’s failure to exercise its rights under this paragraph shall not be construed as a waiver of such rights; and 

 

	 	(c)	In the event of insolvency of ELEVANCE, KOLMAR hereby makes a demand for reclamation of Product delivered to ELEVANCE but not yet paid for by ELEVANCE, in accordance
with § 2-702 of the Uniform Commercial Code (“UCC”) and § 546(c)(1) of the U.S. Bankruptcy Code. In the event of insolvency of ELEVANCE, ELEVANCE agrees to promptly return possession to KOLMAR of such Product at ELEVANCE’s
expense. 

	16.16	Force Majeure. Neither Party shall be liable in damages or otherwise, for failure or delay in performance of any obligation under this Agreement, other than an
obligation to make a payment or payments, where such non foreseeable failure or delay is caused by any event, occurrence, or circumstance beyond the reasonable control of that Party, including without prejudice to the generality of the foregoing,
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by or resulting from acts of God, nature, workforce labor strikes or other labor disputes (whether or not KOLMAR or ELEVANCE is a party to such disputes, or would be able to influence or procure
the settlement thereof), fires, floods, wars (whether declared or undeclared), riots, destruction of KOLMAR’s Supplied Product prior to delivery at the Plant, delays of carriers as a result of breakdown or adverse weather, perils of the seas,
ice or embargoes, accidents, disruptions or breakdowns of production, storage, or other installations of machinery whether by fire, explosion, freezing, breakage, the necessity of making repairs, alterations, enlargements, or connections thereto or
otherwise, restrictions imposed by any governmental authority (including allocations, priorities, requisitions quotas and price controls and environmental restrictions), or inability to obtain necessary materials, supplies, or permits.

  

	16.17	Confidentiality. “Confidential Information” means any information or data disclosed by a Party (the “Disclosing Party”) to the other Party
(the “Receiving Party”) with respect to the terms and conditions of this Agreement and any data shared by one Party with the other Party pursuant to this Agreement, including any and all documents or instruments shared pursuant to the
section herein titled “Additional Instruments”, whereby the Confidential Information, if in tangible form or other media that can be converted to readable form, is clearly marked as proprietary, confidential or private when disclosed, or
if oral or visual, is identified as proprietary, confidential, or private when disclosed. Confidential Information may include any and all proprietary information, whether of a technical, business, financial, or other nature. Confidential
Information shall not, however, include any information which: (a) was publicly known and made generally available in the public domain prior to the time of disclosure by the Disclosing Party; (b) becomes publicly known and made generally
available after disclosure by the Disclosing Party through no action or inaction of the Receiving Party; (c) is already in the possession of the Receiving Party at the time of disclosure by the Disclosing Party; (d) is obtained by the
Receiving Party from a third party without a breach of such third party’s obligations of confidentiality; or (e) is independently developed by the Receiving Party without use of or reference to the Disclosing Party’s Confidential
Information. Notwithstanding the foregoing, a Receiving Party may disclose Confidential Information to the extent such Receiving Party is required by law to disclose such Confidential Information, provided that the Receiving Party gives the
Disclosing Party prompt written notice of such requirement prior to such disclosure and reasonable assistance in obtaining an order protecting the information from public disclosure. The Parties shall safeguard each other’s Confidential
Information, use it solely for executing the terms and conditions of this Agreement, and not disclose it to any third party without each other’s written consent, unless requested or required by law or governmental proceeding. The foregoing
obligations with respect to Confidential Information shall survive the termination or expiration of this Agreement and shall continue in perpetuity, until the applicable information no longer meets the definition of Confidential Information.

  

	16.18	Relationship of the Parties. The Parties are independent entities and nothing contained in this Agreement shall be deemed or construed as creating a relationship
of partnership, association, principal and agent, or joint venture by or between the Parties or a relationship of employer-employee between either Party and any employee, agent, or contractor of the other Party. The Parties shall have no right or
authority to assume or create any obligation or responsibility on behalf of the other Party or to bind the other Party in any manner whatsoever. 

  

	16.19	Sustainability. ELEVANCE warrants that during each Production Campaign KOLMAR’s Finished Product was produced without the use of child labor as defined in
ILO Convention No. 38 and without the use of forced labor as defined in ILO Convention No. 29. 

  

	16.20	Assignment. Neither this Agreement in its entirety, nor any rights or obligations under this Agreement, may be assigned by either Party, by operation of law or
otherwise, without prior written consent of the other Party, with such consent not to be unreasonably withheld, with the exception that (a) KOLMAR may assign this Agreement to its parent, KOLMAR Group AG, or its subsidiary, Kolmar Renewables
LLC without consent, (b) ELEVANCE may assign this Agreement to its parent, Elevance Renewable Sciences, Inc. without consent or to a successor in connection with a transfer or sale of all or substantially all of the business of ELEVANCE to
which this Agreement relates, whether by merger, sale of stock or equity/ownership interests, sale of assets, or otherwise, and (c) either Party may assign this Agreement and its rights, without consent, as collateral security under any credit
facility. 

  
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	16.21	Good Faith. Each Party undertakes to do all things reasonably within its power that are necessary or desirable to give effect to the spirit and intent of this
Agreement. 

  

	16.22	Conflicts of Interest. Neither Party shall, directly or indirectly, give to any director, employee or agent of the other Party or its affiliates, customers,
subcontractors, or vendors any commission, fee, rebate, gift or entertainment of material cost or value in connection with this Agreement. In addition, neither Party shall or shall permit any of its directors, employees or agents to, directly or
indirectly, enter into any business arrangement with any director, employee, or agent of the other Party or any of its affiliates. 

  

	16.23	Non Inducement, Partial Invalidity, and Severability. The making, execution, and delivery of this Agreement has not been induced by any representation,
statement, warranty, or agreement other than those herein expressed. If any provision of this Agreement is found to be illegal or unenforceable by a competent court or public authority having jurisdiction, that provision shall be modified to the
extent necessary to make the provision enforceable and preserve the Parties’ intent, which may include deletion of the provision from this Agreement, if necessary. In instances where a provision is modified or deleted, the remainder of this
Agreement shall not be affected and shall continue in full force and effect. Further, each provision of this Agreement that excludes or limits liability is considered reasonable by the Parties and shall be construed separately.

  

	16.24	Anti-Corruption. Each Party represents that it has complied, and agrees it will comply with all applicable laws, regulations, rules, and requirements of the
United States of America and any other relevant jurisdiction relating to anti-bribery or anti-money laundering and represents that it has not taken and agrees that it will not take any action which would subject the other to fines or penalties under
such laws, regulations, rules or requirements. Each Party represents that it has not, in violation of any of the foregoing, directly or indirectly, paid, offered, given or promised, or authorized the payments of, any monies or other things of value
to, that it shall not, in violation thereof, directly or indirectly, pay, offer, give or promise to pay or authorize the payment of, any monies or other things of value to: 

 

	 	(a)	A government official or an officer or employee of a government or any department, agency or instrumentality of any government; 

 

	 	(b)	An officer or employee of a public international organization; 

  

	 	(c)	Any person acting in an official capacity for or on behalf of any government or any department, agency or instrumentality of any government or of any public
international organization; 

  

	 	(d)	Any political party or official thereof, or any candidate for political office; or, 

 

	 	(e)	Any other person, individual or entity at the suggestion, request, or direction or for the benefit of any of the above-described persons and entities.

  

	 	16.22.1	Either Party may terminate this Agreement forthwith upon written notice to the other Party at any time, if the other Party is in breach of this provision.

  

	16.25	Additional Instruments. Each Party shall, upon reasonable request of the other Party, acknowledge, execute, file, and publish any and all documents or
instruments that may be reasonably required to give full force and effect to the provisions of this Agreement or to carry out the transaction(s) contemplated hereby, and all such documents or instruments shall be subject to confidentiality
requirements as described herein. 

  

	16.26	Governing Law and Jurisdiction. The formation, validity, interpretation, performance, and enforcement of this Agreement shall be governed by and construed in
accordance with the laws of the State of New York, U.S.A. (including the New York UCC), but without giving effect to any laws, rules, or principles thereof that would result in the application of the laws of another jurisdiction. Each Party
expressly submits to the exclusive jurisdiction of the courts of the State of New York, U.S.A. and the federal courts situated in New York, New York, U.S.A., if such federal courts shall have jurisdiction, and each Party irrevocably and
unconditionally agrees that all claims arising out of or related to this Agreement or for recognition or enforcement of any judgment may be brought in such courts. In any litigation or other proceeding arising out of or related to this Agreement,
the prevailing Party (that is, the Party for whom a judgment is rendered, a decision is made, or an order is entered in its favor) shall be awarded its reasonable attorney’s(s’) fees and the costs and expenses it incurred to enforce its
rights under this Agreement. 

  
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	16.27	Compliance with Applicable Laws and Regulations. Each Party, at its own expense and at all times, shall comply with any and all applicable laws, rules,
regulations, ordinances and orders of public authority, including, but not limited to, tax and social security laws, applicable worker’s compensation laws, unemployment insurance requirements, immigration laws, employer’s liability
requirements, and minimum wage requirements. Further, the Parties recognize that U.S. laws, rules, regulations, and orders of public authority may prohibit delivery of Product to restricted destinations or entities and each Party agrees that it
shall not cause or permit Product sold under this Agreement to be delivered to any such destination or entity in violation thereof. The Parties also recognize that U.S. anti-boycott laws, rules, regulations, and orders of public authority may
prohibit them from cooperating with, agreeing to, or complying with certain terms or requests, including documentary requests, and each Party agrees to comply therewith. 

 

	16.28	Amendments, No Waiver. No change, modification, or addition to any provision of this Agreement shall be binding unless agreed by both Parties. The failure of a
Party to insist on strict performance of any provision of this Agreement shall not be deemed a waiver of future strict compliance with such provision or any other provision, term, or condition of this Agreement. 

 

	16.29	Equal Opportunity and Affirmative Action. As applicable, the Parties must comply with the following regulations: Equal Opportunity Clause, 41 Code of the U.S.
Federal Regulations (“CFR Code”) § 60-1.4(a); Equal Opportunity for Special Disabled Veterans and Veterans of the Vietnam Era, CFR Code 41 § 60-250.5(a); Equal Opportunity for Workers With Disabilities, CFR Code 41 §
60-741.5(a); all other applicable sections of CFR Code 41, Chapter. 60; and all other applicable requirements for contracting with any agency of the U.S. government. 

 

	16.30	Commissions and Gifts. No director, officer, employee, or agent of either Party or its direct or indirect parents, subsidiaries, or affiliates shall give or
receive any commission, fee, rebate, gift, or entertainment of significant value or cost in connection with this Agreement. Further, neither Party nor its direct or indirect parents, subsidiaries, or affiliates shall make any commission, fee,
rebate, gift, or entertainment of significant value or cost to any governmental official or employee in connection with this Agreement. 

  

	16.31	Notice. All notices sent by one Party to the other Party shall be sent by email or hard copy letter, with email transmissions being sent to the Parties
and addresses provided in § 14.1, and with letters being sent certified mail (return receipt requested) or by overnight delivery service, sent to the address identified in § 14.1. Any applicable notice period shall commence at the date the
notice is dispatched. 

  

	16.32	Binding Transmission Methods. Facsimiles of documents with original signatures, PDFs of documents with original signatures sent via email transmission, or email
transmissions with digital signature(s), shall be as effective as manually signed original documents. 

  

	16.33	Rules of Interpretation. The words “including,” “includes” and “include” shall be deemed to be followed by the phrase “without
limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Whenever the context may require, any pronoun includes the corresponding masculine, feminine, and neuter forms. The
word “or” is not exclusive. 

  

	16.34	Headings. The headings used in this Agreement are inserted for ease of reference only and shall not affect the construction or interpretation of this Agreement.
In interpreting this Agreement, reliance is not to be placed merely on the headings used to introduce the subject matter articulated. 

  

	16.35	Entire Agreement. The Agreement sets forth the entire agreement between the Parties as to the subject matter hereof and may not be cancelled or modified except
by agreement of both Parties confirmed in writing. All prior agreements between the Parties as to the subject matter hereof are superseded by this Agreement. There are no representations, warranties, understandings, or agreements to the subject
matter hereof, other than those expressly set forth in this Agreement, and all proposals, negotiations, and representations relating thereto are merged herein. 

 

	16.36	 Survival. Any other terms of this Agreement that are expressly contemplated to survive termination or expiration or that by their nature would
survive termination or expiration of this Agreement (such as, payment obligations for amounts due and owing that accrued prior to termination or expiration) shall survive termination or expiration of this Agreement. Without limiting the foregoing,
the following provisions of this Agreement shall survive termination or completion of performance of this Agreement: 

  
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Tax Liability; Material Safety Data Sheets; Representations and Warranties; Limitation of Liabilities; Liquidation and Close-Out; Confidentiality; Governing Law and Jurisdiction; Compliance with
Applicable Laws and Regulations; Additional Instruments; Binding Transmission Methods; Rules of Interpretation; Notices; and Anti-Corruption. 
 ARTICLE 17 
 AUTHORIZATION FOR AGREEMENT 

 

	17.1	Authorization for Agreement. The execution and performance of this Agreement have been duly authorized by all necessary laws, resolutions, or corporate action,
and this Agreement constitutes the valid and enforceable obligations of KOLMAR and ELEVANCE in accordance with its terms, covenants, and conditions. 

 IN WITNESS WHEREOF, the Parties hereto, by their signatures below execute this Agreement intending to be bound to all of its terms, covenants, and conditions as of the Effective Date. 

 
  

											
	Kolmar Americas, Inc.	 		 	Elevance Natchez, Inc.	 	
						
	 By:
	 		 		 	By:	 		 	
						
	 Signature:
	 	 /s/ David Astrauckas
	 		 	 Signature:
	 	/s/ Kenneth J. Christy	 	
						
	 Name:
	 	 David Astrauckas
	 		 	 Name:
	 	Kenneth J. Christy	 	
						
	 Title:
	 	 Trader
	 		 	 Title:
	 	Platform Leader	 	
						
	 Date:
	 	 August 8, 2011
	 		 	 Date:
	 	August 8, 2011	 	

  
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Exhibit A 

Biodiesel Testing and Specifications 
 The biodiesel methyl esters produced by ELEVANCE shall meet the latest ASTM D6751 and EN 14214 requirements subject to the below noted exceptions, test method, and measured in the units provided.

 Section 1. 
 Per the BQ-9000, ASTM, and EN tests listed below, tests shall be conducted on KOLMAR’s Finished Product and ELEVANCE’s Finished Product produced in each Finished Lot and reported for each
finished lot. 
  

							
	 Criteria
	  	 Method
	  	 Units
	  	 Limits

	Calcium + Magnesium	  	EN 14538	  	mg/kg (ppm)	  	5 max
	Flash point (closed cup)	  	ASTM D-93	  	C	  	130 min
	Methanol content	  	EN14110	  	% mass	  	0.2 max
	Water & Sediment	  	ASTM D-2709	  	% vol	  	0.05 max
	Kinematic viscosity @ 40 C	  	ASTM D-445	  	cSt (mm2/s)	  	3.5-5.0
	Cloud point	  	ASTM D-2500	  	C	  	1 max
	Acid number	  	ASTM D-664/EN14104	  	mg KOH/g	  	0.50 max
	Cold soak filterability	  	ASTM D-6751 annex A1/ASTM D-7501	  	seconds	  	200 max*
	Free glycerin	  	ASTM D-6584/EN 14105	  	% mass	  	0.02 max
	Monoglyceride	  	ASTM D-6584/EN 14105	  	% mass	  	0.400 max*
	Total glycerin	  	ASTM D-6584/EN 14105	  	% mass	  	0.240 max
	Sulfur content	  	ASTM D-5453	  	ppm	  	10 max
	Phosphorus content	  	ASTM D-4951	  	% mass/ppm (mg/kg)	  	0.0004/4 max
	Sodium + Potassium	  	EN 14538	  	mg/kg (ppm)	  	5 max
	Oxidation stability @110 C	  	EN 15751/en 15112	  	hr	  	6.0 min
	Water content	  	EN ISO 12937/	  	ppm	  	350 max*
	Specific gravity @ 15.6 C	  	ASTM D-1298	  	g/ml	  	Report
	Density @ 15.6 C	  	Calculated	  	lb/gal	  	Report
	Visual appearance	  	ASTM D-4176 Procedure 2	  	-	  	2 max
	CFPP, C	  	EN 116	  	-	  	-2 max
	Total Contamination	  	EN 12662	  	mg/kg	  	24 max

  

	*	 	This requirement is an exception to either the ASTM 6751 or EN 14214 specificaiton limit - the specification limit is subject to change at KOLMAR’s election,
upon any published change in the ASTM 6751 or EN 14214 specification. 

 Section 2. 

Per the BQ-9000, ASTM, and EN tests listed below, tests shall be conducted on KOLMAR’s Finished Product and ELEVANCE’s Finished Product
produced for the first three finished lots of the Term and every six months thereafter, with the most recent value reported for each finished lot. 
  

							
	 Criteria
	  	 Method
	  	 Units
	  	 Limits

	Linolenic	  	EN 14103	  	% mass	  	12 max
	Poly unsaturated (>= 4 double bonds) methyl ester	  	EN 14103	  	% mass	  	1 max
	Diglycerides	  	EN 14105	  	% mass	  	0.2 max
	Triglycerides	  	EN 14105	  	% mass	  	0.2 max
	Iodine value	  	EN 14111	  		  	max 135 or feed*
	Total ester	  	EN 14103	  	% mass	  	96.5
	Sulfated ash	  	ASTM D-874	  	% mass	  	0.02 max
	Copper strip corrosion	  	ASTM D-130	  	Number	  	No. 3
	Carbon residue	  	ASTM D-4530	  	% mass	  	0.05 max
	Distillation temperature	  	ASTM D-1160	  	C	  	360 max

  

	*	 	This requirement is an exception to either the ASTM 6751 or EN 14214 specification limit - the specification limit is subject to change at KOLMAR’s election,
upon any published change in the ASTM 6751 or EN 14214 specificatlon. 

 Section 3. 

Per the BQ-9000, ASTM, and EN tests listed below, tests shall be conducted on KOLMAR’s Finished Product and ELEVANCE’s Finished Product
produced for the first finished lot of the Term and every twelve months thereafter, with the most recent value reported for each Finished Lot. 
  

							
	 Criteria
	  	 Method
	  	 Units
	  	 Limits

	Cetane number	  	ASTM D-613/EN ISO 5165	  	Number	  	47 min*

  

	*	 	This requirement is an exception to either the ASTM 6751 or EN 14214 specificaiton limit - the specification limit is subject to change at KOLMAR’s election,
upon any published change in the ASTM 6751 or EN 14214 specification. 

  
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