Document:

Services Agreement, dated as of November 9, 2011

 Exhibit 10.3 
 EXECUTION COPY 
 SERVICES AGREEMENT 

among 

RENTECH NITROGEN PARTNERS, L.P., 
 RENTECH NITROGEN GP, LLC 
 and 

RENTECH, INC. 

 SERVICES AGREEMENT 
 This SERVICES AGREEMENT (this “Agreement”), dated as of November 9, 2011, is entered into by and among RENTECH NITROGEN PARTNERS, L.P., a Delaware limited partnership
(“MLP”), RENTECH NITROGEN GP, LLC, a Delaware limited liability company (“GP”), and RENTECH, INC., a Colorado corporation (“Rentech”, and collectively with MLP and GP, the “Parties”
and each, a “Party”). 
 RECITALS 
 MLP is the owner of Rentech Nitrogen, LLC, a Delaware limited liability company (“Operating Company”). GP, in its capacity as the general partner of MLP, desires to engage Rentech, on its
own behalf and for the benefit of MLP and its Subsidiaries, including Operating Company, to provide certain services necessary to operate the business conducted by GP, MLP and MLP’s Subsidiaries, including Operating Company (the
“Services Recipients”), and Rentech is willing to undertake such engagement, subject to the terms and conditions of this Agreement. 
 MLP, GP (for itself and in its capacity as the general partner of MLP) and Rentech agree as follows: 
 ARTICLE I. 
 DEFINITIONS 

Section 1.1 Terms. The following defined terms will have the meanings given below: 

“Administrative Personnel” means individuals who are employed by Rentech or any of its Affiliates and assist in
providing the Services, excluding any Seconded Personnel. 
 “Administrative Services Percentage” means, for
any applicable period, the percentage represented by a fraction, the numerator of which is the estimated amount of total working time that the Administrative Personnel are engaged in performing Services during such period, and the denominator of
which is the estimated amount of total working time that the Administrative Personnel are engaged in performing services for Rentech and its Affiliates during such period (including the Services and any other services), as such estimated amounts of
working time are calculated on a consistent basis for purposes of determining the Administrative Services Percentage. 

“Affiliate” shall mean with respect to any Person, any other Person that directly or indirectly through one or more
intermediaries, controls, is controlled by, or is under common control with, such specified Person. For purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of
such Person, directly or indirectly, through the ownership of voting securities, by contract or otherwise (provided that, solely for purposes of this Agreement, the Services Recipients shall not be deemed Affiliates of Rentech or its Affiliates).

 “Alternative Energy Technology” shall mean any of (a) a Fischer-Tropsch process technology which
converts synthesis gas to hydrocarbons or a process for direct conversion of 

  
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any carbon bearing material to hydrocarbons, or (b) a gasification or reformation process to convert biomass to synthesis gas. 

“Bankrupt” with respect to any Person shall mean such Person shall generally be unable to pay its debts as such debts
become due, or shall so admit in writing or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against such Person seeking to adjudicate it bankrupt or insolvent, or seeking liquidation, winding
up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an order for relief or the
appointment of a receiver, trustee or other similar official for it or for any substantial part of its property and, in the case of any such proceeding instituted against it (but not instituted by it), shall remain undismissed or unstayed for a
period of 30 days; or such Person shall authorize any of the actions set forth above. 
 “Default Rate”
shall mean an interest rate (which shall in no event be higher than the rate permitted by applicable law) equal to 300 basis points over the most recent 12-month LIBOR. 
 “Governmental Approval” shall mean any material consent, authorization, certificate, permit, right of way, grant or approval of any Governmental Authority that is necessary for the
business of the Services Recipients in accordance with applicable Laws. 
 “Governmental Authority” shall mean
(a) any court or tribunal in any jurisdiction, (b) any federal, state, foreign, municipal or local government, (c) any governmental body, agency, authority, department, commission, board, bureau, instrumentality, arbitrator or
arbitral body or (d) any quasi-governmental or private body lawfully exercising any regulatory or taxing authority. 

“GP/MLP Representative” means such person as is designated in writing by GP to serve in such capacity. 

“Initial Offering” means the initial public offering of common units representing limited partner interests in MLP.

 “Laws” shall mean any applicable statute, common law, rule, regulation, judgment, order, ordinance, writ,
injunction or decree issued or promulgated by any Governmental Authority. 
 “LIBOR” means the London
Inter-Bank Offered Rate. 
 “Operating Company” has the meaning set forth in the Recitals to this Agreement.

 “Party” and “Parties” has the meaning set forth in the Preamble to this Agreement.

 “Person” means an individual, corporation, partnership, joint venture, trust, limited liability company,
unincorporated organization or other entity. 
 “Personnel Costs” means all compensation costs incurred by an
employer in connection with the employment by such employer of applicable personnel, including all salary, cash bonuses, payroll taxes and benefits but excluding any Share-Based Compensation. 

  
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 “Rentech Representative” means such person as is designated in writing by
Rentech to serve in such capacity. 
 “Seconded Personnel” means individuals who are employed by Rentech or any
of its Affiliates and provided on a full-time basis to the Services Recipients in connection with provision of the Services. 

“Services” shall consist of those services performed for the Services Recipients as described on Exhibit 1
hereto, as such exhibit may be updated in accordance with Section 2.3. 
 “Services Recipients”
has the meaning set forth in the Recitals to this Agreement. 
 “Share-Based Compensation” means any
compensation accruing or payable under any incentive or other compensation plan or program of an employer based upon changes in the equity value of such employer or any of its Affiliates. 

“Subsidiary” means, with respect to any Person, (a) a corporation of which more than 50% of the voting power of
shares entitled (without regard to the occurrence of any contingency) to vote in the election of directors or other governing body of such corporation is owned, directly or indirectly, at the date of determination, by such Person, by one or more
Subsidiaries of such Person or a combination thereof, (b) a partnership (whether general or limited) in which such Person or a Subsidiary of such Person is, at the date of determination, a general partner of such partnership, but only if such
Person, directly or through one or more Subsidiaries of such Person, or a combination thereof, controls such partnership, directly or indirectly, at the date of determination or (c) any other Person in which such Person, one or more
Subsidiaries of such Person, or a combination thereof, directly or indirectly, at the date of determination, has (i) at least a majority ownership interest or (ii) the power to elect or direct the election of a majority of the directors or
other governing body of such Person. 
 ARTICLE II. 
 RETENTION OF RENTECH; SCOPE OF SERVICES 
 Section 2.1 Retention of
Rentech. GP, on its own behalf and for the benefit of the Services Recipients, hereby engages Rentech to perform the Services and Rentech hereby accepts such engagement and agrees to perform the Services and to provide all Administrative
Personnel necessary to perform the Services. In connection with providing the Services, Rentech may provide Seconded Personnel to the Services Recipients in Rentech’s discretion. Subject to the other provisions of this Agreement, all
Administrative Personnel and Seconded Personnel performing Services pursuant to this Agreement shall be subject to the direction and control of GP in performing such Services. 
 Section 2.2 Scope of Services. The Services shall be provided in accordance with (a) applicable material Governmental Approvals and Laws, (b) applicable industry standards and
(c) quality standards that, taken as a whole, are not materially less favorable to the Services Recipients compared to those provided by Rentech to the Services Recipients as of the date of this Agreement. 

  
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 Section 2.3 Exclusion and Addition of Services. At any time, GP or Rentech may
temporarily or permanently exclude any particular service from the scope of the Services upon 180 days notice, unless such notice is waived in writing by the GP. At any time, GP and Rentech may agree to temporarily or permanently add any
particular service to the scope of the Services, which shall be reflected in an update to Exhibit 1 to this Agreement. Any such update shall be deemed not to be an amendment or modification to this Agreement. 

Section 2.4 Exclusion of Personnel. At any time, subject to Section 2.1, Rentech may temporarily or permanently exclude
any employee of Rentech or its Affiliates from providing the Services (in which case, such employee shall not be considered a member of the Administrative Personnel or Seconded Personnel during the period of such exclusion). 

Section 2.5 Performance of Services by Affiliates or Other Persons. The Parties hereby agree that in discharging its
obligations hereunder, Rentech may engage any of its Affiliates or other Persons to perform the Services (or any part of the Services) on its behalf and that the performance of the Services (or any part of the Services) by any such Affiliate or
Person shall be treated as if Rentech performed such Services itself. No such delegation by Rentech to Affiliates or other Persons shall relieve Rentech of its obligations hereunder. 

ARTICLE III. 

PAYMENT AMOUNT 

Section 3.1 Payment Amount. GP shall pay or cause MLP or Operating Company to pay in cash, to Rentech (or its Affiliates as
Rentech may direct) the amount of any direct or indirect expenses incurred by Rentech or its Affiliates in connection with the provision of Services by Rentech or its Affiliates (the “Payment Amount”), in accordance with the
following, provided, however, that the Payment Amount may be adjusted in the event either party reasonably determines such adjustments are necessary to comply with section 482 of the U.S. Internal Revenue Code of 1986, as amended, and the Treasury
regulations promulgated thereunder (or similar provisions of state law): 
 (a) Seconded Personnel. The Payment Amount
will include all Personnel Costs of Seconded Personnel, to the extent attributable to the periods during which such Seconded Personnel are provided to the Services Recipients. 
 (b) Administrative Personnel. The Payment Amount will include a pro rata share of all Personnel Costs of Administrative Personnel, as determined by Rentech on a commercially reasonable basis, based
on the estimated percent of total working time that such Administrative Personnel are engaged in performing the Services. 
 (c)
Administrative Costs. The Payment Amount will include the following: 
 (i) Office Costs. A pro
rata share of all office costs (including, without limitation, all costs relating to office leases, equipment leases, supplies, property taxes and utilities) for all locations of Administrative Personnel, as determined by Rentech on a commercially
reasonable basis, based on the Administrative Services Percentage; 

  
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 (ii) Insurance. Premiums under Rentech’s general policy of
insurance will be apportioned by the insurer among Rentech, its Affiliates and the Services Recipients and direct charged to the applicable insured. GP will maintain its own directors and officers (or equivalent) insurance and will pay all related
premiums; 
 (iii) Outside Services. Services provided by outside vendors (including audit services, legal
services, government and public relation services, employee compensation and benefit plan services and related services, payroll services and other services) will first be direct charged where applicable; provided, however, that the Payment Amount
will include a pro rata share of charges for all services that are provided by outside vendors and not direct charged, as determined by Rentech on a commercially reasonable basis, based on the estimated portion of such services that are for the
benefit of Services Recipients; 
 (iv) Employee Benefits. Reimbursements to Rentech for costs, expenses
and/or claims related to benefits provided to employees of the Services Recipients that have been paid by Rentech; and 
 (v) Other G&A Costs. A pro rata share of all other general and administrative costs, but excluding any Share-Based Compensation, relating to the Services Recipients incurred by Rentech or its
Affiliates, based on any commercially reasonable allocation methodology selected by Rentech. 
 (d) Other Costs. Bank
charges, interest expense and any other costs as reasonably incurred by Rentech or its Affiliates in the provision of Services will be direct charged as applicable. For the avoidance of doubt, any of the foregoing costs and expenses described in
Section 3.1 that are direct charged to any Party will not be included in the Payment Amount. 
 (e) Taxes.
The Services Recipients shall pay or cause to be paid all taxes, levies, royalties, assessments, licenses, fees, charges, surcharges and sums due of any nature whatsoever (other than income taxes, gross receipt taxes and similar taxes) imposed by
any Governmental Authority that Rentech or its Affiliates incur for the Services provided under this Agreement. If Rentech is required to pay any of the foregoing, then the Payment Amount will include amounts sufficient to reimburse Rentech for such
payment. 
 Section 3.2 Payment of Payment Amount. Rentech shall submit monthly invoices to GP for the Services,
which invoices shall be due and payable within 30 days. GP shall pay, or cause MLP or Operating Company to pay, to Rentech in immediately available funds, the full Payment Amount due under Section 3.1. Past due amounts shall bear interest
at the Default Rate. Allocation percentages referred to in this Article III will be calculated and determined for calendar year or calendar quarter periods, as Rentech may determine, based upon Rentech’s annual audited financial statements
or quarterly unaudited financial statements for the immediately preceding calendar year or calendar quarter, as applicable. 

Section 3.3 Disputed Charges. GP MAY, WITHIN 90 DAYS AFTER RECEIPT OF A CHARGE FROM RENTECH, TAKE WRITTEN EXCEPTION TO SUCH
CHARGE, ON THE GROUNDS THAT THE SAME WAS NOT A REASONABLE COST INCURRED BY 

  
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RENTECH OR ITS AFFILIATES IN CONNECTION WITH THE SERVICES. GP SHALL NEVERTHELESS PAY OR CAUSE MLP OR OPERATING COMPANY TO PAY WHEN DUE THE FULL PAYMENT AMOUNT OWED TO RENTECH. SUCH PAYMENT SHALL
NOT BE DEEMED A WAIVER OF THE RIGHT OF THE SERVICES RECIPIENT TO RECOUP ANY CONTESTED PORTION OF ANY AMOUNT SO PAID. HOWEVER, IF THE AMOUNT AS TO WHICH SUCH WRITTEN EXCEPTION IS TAKEN, OR ANY PART THEREOF, IS ULTIMATELY DETERMINED NOT TO BE A
REASONABLE COST INCURRED BY RENTECH OR ITS AFFILIATES IN CONNECTION WITH ITS PROVIDING THE SERVICES HEREUNDER, SUCH AMOUNT OR PORTION THEREOF (AS THE CASE MAY BE) SHALL BE REFUNDED BY RENTECH TO THE SERVICES RECIPIENTS TOGETHER WITH INTEREST THEREON
AT THE DEFAULT RATE DURING THE PERIOD FROM THE DATE OF PAYMENT BY THE SERVICES RECIPIENTS TO THE DATE OF REFUND BY RENTECH. 

Section 3.4 Rentech’s Employees. The Services Recipients shall not be obligated to pay directly to Seconded Personnel
any salaries, wages, bonuses, benefits, social security taxes, workers’ compensation insurance, retirement and insurance benefits, training or other expenses; provided, however, that if Rentech fails to pay any employee within 30 days of
the date such employee’s payment is due: 
 (a) the Services Recipients may (i) pay such employee directly, or
(ii) employ such employee directly; and 
 (b) Rentech shall reimburse GP, MLP or Operating Company, as the case may be,
for the amount GP, MLP or Operating Company, as applicable, paid to Rentech with respect to employee services for which Rentech did not pay any such employee; provided that, at any time, Rentech may elect to satisfy such obligation by setting-off
and applying the amount of such reimbursement against any Payment Amount or other amount owed by GP, MLP or Operating Company to Rentech under this Agreement. 
 ARTICLE IV. 
 BOOKS, RECORDS AND REPORTING 

Section 4.1 Books and Records. Rentech and its Affiliates and the Services Recipients shall each maintain accurate books and
records regarding the performance of the Services and calculation of the Payment Amount, and shall maintain such books and records for the period required by applicable accounting practices or law, or five (5) years, whichever is longer.

 Section 4.2 Audits. Rentech and its Affiliates and the Services Recipients shall have the right, upon reasonable
notice, and at all reasonable times during usual business hours, to audit, examine and make copies of the books and records referred to in Section 4.1. Such right may be exercised through any agent or employee of the Person exercising such
right if designated in writing by such Person or by an independent public accountant, attorney or other agent so designated. Each Person exercising such right shall bear all costs and expenses incurred by it in any inspection, examination or audit.
Each Party shall review and respond in a timely manner to any claims or inquiries made by the other Party regarding matters revealed by any such inspection, examination or audit. 

  
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 Section 4.3 Reports. Rentech shall prepare and deliver to GP any reports
provided for in this Agreement and such other reports as GP may reasonably request from time to time regarding the performance of the Services. 
 ARTICLE V. 
 INTELLECTUAL PROPERTY 

Section 5.1 Ownership by Rentech and License to MLP. Any (a) inventions, whether patentable or not, developed or
invented, or (b) copyrightable material (and the intangible rights of copyright therein) developed, by Rentech, its Affiliates or its or their employees in connection with the performance of the Services shall be the property of Rentech;
provided, however, that Rentech hereby grants, and agrees to cause its Affiliates to grant, to MLP an irrevocable, royalty-free, non-exclusive and non-transferable (without the prior written consent of Rentech) right and license to use such
inventions or material. Notwithstanding the foregoing, (i) MLP shall only be granted such a right and license to the extent such grant does not conflict with, or result in a breach, default, or violation of a right or license to use such
inventions or material granted to Rentech or its Affiliates by any Person other than Rentech or an Affiliate of Rentech; provided that Rentech will, and will cause its Affiliates to, use commercially reasonable efforts to grant such right and
license to MLP (which efforts shall not include the expenditure of any money); and (ii) nothing in this Agreement shall require Rentech or its Affiliates to grant any right or license to any Alternative Energy Technology. 

Section 5.2 License to Rentech and its Affiliates. MLP hereby grants, and will cause its Affiliates to grant, to Rentech and
its Affiliates an irrevocable, royalty-free, non-exclusive and non-transferable right and license to use, during the term of this Agreement, any intellectual property provided by MLP or its Affiliates to Rentech or its Affiliates, but only to the
extent such use is necessary for the performance of the Services. Rentech agrees that Rentech and its Affiliates will utilize such intellectual property solely in connection with the performance of the Services. 

ARTICLE VI. 

TERMINATION 

Section 6.1 Termination By GP. 
 (a) Upon the occurrence of any of the following events, GP may terminate this Agreement by giving written notice of such termination to Rentech: 

(i) Rentech becomes Bankrupt; or 
 (ii) Rentech dissolves and commences liquidation or winding-up. 
 Any termination under this
Section 6.1(a) shall become effective immediately upon delivery of the notice first described in this Section 6.1(a), or such later time (not to exceed the first anniversary of the delivery of such notice) as may be specified
by GP. 
 (b) In addition to its rights under Section 6.1(a), beginning one year after the completion of the Initial
Offering, GP may terminate this Agreement at any time by giving notice 

  
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of such termination to Rentech. Any termination under this Section 6.1(b) shall become effective 180 days after delivery of such notice, or such later time (not to exceed the
first anniversary of the delivery of such notice) as may be specified by GP. 
 Section 6.2 Termination By Rentech.
Beginning one year after the completion of the Initial Offering, Rentech may terminate this Agreement at any time by giving notice of such termination to GP. Any termination under this Section 6.2 shall become effective 180 days
after delivery of such notice, or such later time (not to exceed the first anniversary of the delivery of such notice) as may be specified by Rentech. 
 Section 6.3 Effect of Termination. If this Agreement is terminated in accordance with Section 6.1 or Section 6.2, all rights and obligations under this Agreement shall
cease except for (a) obligations that expressly survive termination of this Agreement; (b) liabilities and obligations that have accrued prior to such termination, including the obligation to pay any amounts that have become due and
payable prior to such termination, and (c) the obligation to pay any portion of any Payment Amount that has accrued prior to such termination, even if such portion has not become due and payable at that time. 

Section 6.4 Transition of Services. During the period prior to termination of this Agreement following the delivery of any notice
of termination delivered in accordance with Section 6.1(b) or Section 6.2, in addition to the Services, Rentech will, and will cause its Affiliates to, provide to MLP such additional services as may be reasonably requested by
the GP to assist the Services Recipients in effecting a transition of the responsibility for providing the Services. 
 Section
6.5 Survival. The provisions of this Article VI and Sections 3.3, 4.1, 4.2, 5.1, 8.1, 8.2, 8.3 and Articles IX and X will survive and continue in full force and
effect notwithstanding the termination of this Agreement. 
 ARTICLE VII. 

REPRESENTATIONS AND WARRANTIES 
 Section 7.1 Representations and Warranties of Rentech. Rentech hereby represents, warrants and covenants to the other Parties that as of the date hereof: 

(a) Rentech is duly organized, validly existing, and in good standing under the Laws of the State of Colorado; Rentech is duly qualified
and in good standing in the states required in order to perform the Services except where failure to be so qualified or in good standing would not reasonably be expected to have a material adverse impact on GP or MLP; and Rentech has full power and
authority to execute and deliver this Agreement and to perform its obligations hereunder; 
 (b) Rentech has duly executed and
delivered this Agreement and, assuming the accuracy of the representations and warranties in Section 7.2, this Agreement constitutes the legal, valid and binding obligation of Rentech, enforceable against it in accordance with its terms
(except as may be limited by bankruptcy, insolvency or similar laws of general application and by the effect of general principles of equity, regardless of whether considered at law or in equity); and 

  
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 (c) The authorization, execution, delivery, and performance of this Agreement by Rentech
does not and will not (i) conflict with, or result in a breach, default or violation of, (A) the articles of incorporation of Rentech, (B) any contract or agreement to which such Rentech is a party or is otherwise subject, or
(C) any law, order, judgment, decree, writ, injunction or arbitral award to which such Rentech is subject; or (ii) require any consent, approval or authorization from, filing or registration with, or notice to, any Governmental Authority
or other Person, unless such requirement has already been satisfied, except, in the case of clauses (i)(B) and (i)(C), for such conflicts, breaches, defaults or violations that would not have a material adverse effect on Rentech or on its ability to
perform its obligations hereunder, and except, in the case of clause (ii), for such consents, approvals, authorizations, filings, registrations or notices, the failure of which to obtain or make would not have a material adverse effect on Rentech or
on its ability to perform its obligations hereunder. 
 Section 7.2 Representations and Warranties of GP and MLP.
Each of GP and MLP hereby represents, warrants and covenants to Rentech that as of the date hereof: 
 (a) Each of GP and MLP is
duly organized, validly existing, and in good standing under the laws of the jurisdiction of its formation; each of GP and MLP has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder; 

(b) Each of GP and MLP has duly executed and delivered this Agreement and, assuming the accuracy of the representations and warranties in
Section 7.1, this Agreement constitutes the legal, valid and binding obligation of each such Person enforceable against it in accordance with its terms (except as may be limited by bankruptcy, insolvency or similar laws of general
application and by the effect of general principles of equity, regardless of whether considered at law or in equity); and 
 (c)
The authorization, execution, delivery, and performance of this Agreement by each of GP and MLP does not and will not (i) conflict with, or result in a breach, default or violation of, (A) the limited liability company agreement of GP or
the partnership agreement of MLP, (B) any contract or agreement to which such Person is a party or is otherwise subject, or (C) any law, order, judgment, decree, writ, injunction or arbitral award to which such Person is subject; or
(ii) require any consent, approval or authorization from, filing or registration with, or notice to, any governmental authority or other Person, unless such requirement has already been satisfied, except, in the case of clause (i)(B) and
(i)(C), for such conflicts, breaches, defaults or violations that would not have a material adverse effect on GP or MLP or on their ability to perform their obligations hereunder, and except, in the case of clause (ii), for such consents, approvals,
authorizations, filings, registrations or notices, the failure of which to obtain or make would not have a material adverse effect on GP or MLP or on their ability to perform their respective obligations hereunder. 

ARTICLE VIII. 

ADDITIONAL REQUIREMENTS 
 Section 8.1 Indemnity. The Services Recipients shall indemnify, reimburse, defend and hold harmless Rentech and its Affiliates and their respective successors and permitted assigns, together
with their respective employees, officers, members, managers, directors, agents 

  
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and representatives (collectively the “Indemnified Parties”), from and against all losses (including lost profits), costs, damages, injuries, taxes, penalties, interest,
expenses, obligations, claims and liabilities (joint or several) of any kind or nature whatsoever (collectively “Losses”) that are incurred by such Indemnified Parties in connection with, relating to or arising out of (i) the
breach of any term or condition of this Agreement, or (ii) the performance of any Services hereunder; provided, however, that the Services Recipients shall not be obligated to indemnify, reimburse, defend or hold harmless any Indemnified Party
for any Losses incurred, by such Indemnified Party in connection with, relating to or arising out of: 
 (a) a breach by such
Indemnified Party of this Agreement; 
 (b) the gross negligence, willful misconduct, bad faith or reckless disregard of such
Indemnified Party in the performance of any Services hereunder; or 
 (c) fraudulent or dishonest acts of such Indemnified Party
with respect to the Services Recipients. 
 The rights of any Indemnified Party referred to above shall be in addition to any rights that such
Indemnified Party shall otherwise have at law or in equity. Without the prior written consent of the Services Recipients, no Indemnified Party shall settle, compromise or consent to the entry of any judgment in any claim, action, proceeding or
investigation in respect of which indemnification is sought hereunder unless (a) such settlement, compromise or consent includes an unconditional release of the Services Recipients from all liability arising out of such claim, action,
proceeding or investigation and (b) the parties involved agree that the terms of such settlement, compromise or consent shall remain confidential. In the event that indemnification for a particular Loss is provided for under any other
agreements between Rentech or any of its Affiliates and any of the Services Recipients or any of their Affiliates, then such indemnification (and any limitations thereon) as provided in such other agreement shall apply as to such particular Losses
and shall supersede and be in lieu of any indemnification that would otherwise apply to such particular Losses under this Agreement. 
 Section 8.2 Limitation of Duties and Liability. The relationship of Rentech to the Services Recipients pursuant to this Agreement is as an independent contractor and nothing in this Agreement
shall be construed to impose on Rentech, or on any of its Affiliates, or on any of their respective successors and permitted assigns, or on their respective employees, officers, members, managers, directors, agents and representatives, an express or
implied fiduciary duty. Rentech and its Affiliates and their respective successors and permitted assigns, together with their respective employees, officers, members, managers, directors, agents and representatives, shall not be liable for, and the
Services Recipients shall not take, or permit to be taken, any action against any of such Persons to hold such Persons liable for, (a) any error of judgment or mistake of law or for any liability or loss suffered by the Services Recipients in
connection with the performance of any Services under this Agreement, except for a liability or loss resulting from gross negligence, willful misconduct, bad faith or reckless disregard in the performance of the Services, or (b) any fraudulent
or dishonest acts with respect to the Services Recipients. In no event, whether based on contract, indemnity, warranty, tort (including negligence), strict liability or otherwise, shall Rentech or its Affiliates, their respective successors and
permitted assigns, or their respective employees, officers, members, managers, directors, agents and 

  
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representatives, be liable for loss of profits or revenue or special, incidental, exemplary, punitive or consequential damages. 

Section 8.3 Reliance. Rentech and its Affiliates and their respective successors and permitted assigns, together with their
respective employees, officers, members, managers, directors, agents and representatives, may take and may act and rely upon: 

(a) the opinion or advice of legal counsel, which may be in-house counsel to the Services Recipients or to Rentech or its Affiliates, any
U.S.-based law firm, or other legal counsel reasonably acceptable to the board of directors of the GP, in relation to the interpretation of this Agreement or any other document (whether statutory or otherwise) or generally in connection with the
Services Recipients; 
 (b) advice, opinions, statements or information from bankers, accountants, auditors, valuation
consultants and other consulted Persons who are in each case believed by the relying Person in good faith to be expert in relation to the matters upon which they are consulted; or 

(c) any other document provided in connection with the Services Recipients upon which it is reasonable for the applicable Person to rely.

 A Person shall not be liable for anything done, suffered or omitted by it in good faith in reliance upon such opinion, advice, statement,
information or document. 
 Section 8.4 Services to Others. While Rentech is providing the Services under this
Agreement, Rentech shall also be permitted to provide services, including services similar to the Services covered hereby, to others, including Affiliates of Rentech. 
 Section 8.5 Transactions With Affiliates. Rentech may recommend to the Services Recipients, and may engage in, transactions with any of Rentech’s Affiliates. 

Section 8.6 Sharing of Information. Rentech, and its Affiliates and other agents or representatives, shall be permitted to
share Services Recipients’ information with its Affiliates and other Persons as reasonably necessary to perform the Services, subject to appropriate and reasonable confidentiality arrangements. 

Section 8.7 Disclosure of Remuneration. Rentech shall disclose the amount of compensation of any Administrative Personnel to
the MLP to the extent required for the Services Recipients to comply with the requirements of applicable law, including applicable Federal securities laws. 
 Section 8.8 Plant Personnel. Personnel performing the actual day-to-day business and operations of Operating Company at the plant level will be employed by GP and GP will bear all Personnel
Costs, Share-Based Compensation and other costs relating to such personnel. 
 Section 8.9 Election. The Services
Recipients shall cause the election of any Seconded Personnel or Administrative Personnel that is an officer of a Services Recipient to the extent required by the organizational documents of the Services Recipients. The Board of

  
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Directors of the GP, after due consultation with Rentech, may at any time request that Rentech replace any Seconded Personnel and Rentech shall, as promptly as practicable, replace any such
Seconded Personnel, subject to the requirements for the election of officers under the organizational documents of the Services Recipients. 
 ARTICLE IX. 
 DISPUTES 

Section 9.1 Resolution of Disputes. The Parties shall in good faith attempt to resolve promptly and amicably any dispute
between the Parties arising out of or relating to this Agreement (each a “Dispute”) pursuant to this Article IX. The Parties shall first submit the Dispute to the Rentech Representative and the GP/MLP Representative, who
shall then meet within fifteen (15) days to resolve the Dispute. If the Dispute has not been resolved within forty-five (45) days after the submission of the Dispute to the Rentech Representative and the GP/MLP Representative, the Dispute
shall be submitted to a mutually agreed non-binding mediation. The costs and expenses of the mediator shall be borne equally by the Parties, and the Parties shall pay their own respective attorneys’ fees and other costs. If the Dispute is not
resolved by mediation within ninety (90) days after the Dispute is first submitted to the Rentech Representative and the GP/MLP Representative as provided above, then the Parties may exercise all available remedies. 

Section 9.2 Multi-Party Disputes. The Parties acknowledge that they or their respective Affiliates may enter into additional
agreements with third parties that relate to the subject matter of this Agreement and that, as a consequence, Disputes may arise hereunder that involve such third parties (each a “Multi-Party Dispute”). Accordingly, the Parties
agree, with the consent of such third parties, that any such Multi-Party Dispute, to the extent feasible, shall be resolved by and among all the interested parties consistent with the provisions of this Article IX. 

ARTICLE X. 

MISCELLANEOUS 

Section 10.1 Notices. Except as expressly set forth to the contrary in this Agreement, all notices, requests or consents
provided for or permitted to be given under this Agreement must be in writing and must be delivered to the recipient in person, by courier or mail or by facsimile; and a notice, request or consent given under this Agreement is effective on receipt
by the Party to receive it; provided, however, that a facsimile transmission that is transmitted after the normal business hours of the recipient shall be deemed effective on the next business day. All notices, requests and consents must be sent to
or made as provided below. 
 If to GP or MLP, to: 
 Rentech Nitrogen GP, LLC 
 10877 Wilshire Boulevard 

Suite 600 
 Los
Angeles, CA 90024 
 Facsimile: (310) 571-9799 

  
 12 

 Attention: General Counsel 

If to Rentech, to: 
 Rentech, Inc. 
 10877 Wilshire Boulevard 

Suite 600 
 Los
Angeles, CA 90024 
 Facsimile: (310) 571-9799 
 Attention: General Counsel 
 Section 10.2 Effect of Waiver or Consent.
Except as otherwise provided in this Agreement, a waiver or consent, express or implied, to or of any breach or default by any Party in the performance by that Party of its obligations under this Agreement is not a consent or waiver to or of any
other breach or default in the performance by that Party of the same or any other obligations of that Party under this Agreement. Except as otherwise provided in this Agreement, failure on the part of a Party to complain of any act of another Party
or to declare another Party in default under this Agreement, irrespective of how long that failure continues, does not constitute a waiver by that Party of its rights with respect to that default until the applicable statute-of-limitations period
has run. 
 Section 10.3 Headings; References; Interpretation. All Article and Section headings in this Agreement
are for convenience only and will not be deemed to control or affect the meaning or construction of any of the provisions hereof. The words “hereof,” “herein” and “hereunder” and words of similar import, when used in
this Agreement, will refer to this Agreement as a whole, and not to any particular provision of this Agreement. All references herein to Articles and Sections will, unless the context requires a different construction, be deemed to be references to
the Articles and Sections of this Agreement, respectively. All personal pronouns used in this Agreement, whether used in the masculine, feminine or neuter gender, will include all other genders, and the singular will include the plural and vice
versa. The terms “include,” “includes,” “including” or words of like import will be deemed to be followed by the words “without limitation.” 

Section 10.4 Successors and Assigns. This Agreement will be binding upon and inure to the benefit of the Parties and their
respective successors and assigns. 
 Section 10.5 No Third Party Rights. The provisions of this Agreement are
intended to bind the parties signatory hereto as to each other and are not intended to and do not create rights in any other person or confer upon any other person any benefits, rights or remedies, and no person is or is intended to be a third party
beneficiary of any of the provisions of this Agreement. 
 Section 10.6 Counterparts. This Agreement may be executed
in any number of counterparts, all of which together will constitute one agreement binding on the Parties. 

  
 13 

 Section 10.7 Governing Law. THIS AGREEMENT IS GOVERNED BY AND SHALL BE CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES. 
 Section 10.8
Submission to Jurisdiction; Waiver of Jury Trial. Subject to the provisions of Article IX, each of the Parties hereby irrevocably acknowledges and consents that any legal action or proceeding brought with respect to any of the
obligations arising under or relating to this Agreement may be brought in the courts of the State of New York, or in the United States District Court for the Southern District of New York and each of the Parties hereby irrevocably submits to and
accepts with regard to any such action or proceeding, for itself and in respect of its property, generally and unconditionally, the non-exclusive jurisdiction of the aforesaid courts. Each Party hereby further irrevocably waives any claim that any
such courts lack jurisdiction over such Party, and agrees not to plead or claim, in any legal action or proceeding with respect to this Agreement or the transactions contemplated hereby brought in any of the aforesaid courts, that any such court
lacks jurisdiction over such Party. Each Party irrevocably consents to the service of process in any such action or proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, to such party, at its address for
notices set forth in this Agreement, such service to become effective ten (10) days after such mailing. Each Party hereby irrevocably waives any objection to such service of process and further irrevocably waives and agrees not to plead
or claim in any action or proceeding commenced hereunder or under any other documents contemplated hereby that service of process was in any way invalid or ineffective. The foregoing shall not limit the rights of any Party to serve process in any
other manner permitted by applicable law. The foregoing consents to jurisdiction shall not constitute general consents to service of process in the State of New York for any purpose except as provided above and shall not be deemed to confer rights
on any Person other than the respective Parties. Each of the Parties hereby waives any right it may have under the laws of any jurisdiction to commence by publication any legal action or proceeding with respect this Agreement. To the fullest extent
permitted by applicable law, each of the Parties hereby irrevocably waives the objection which it may now or hereafter have to the laying of the venue of any suit, action or proceeding arising out of or relating to this Agreement in any of the
courts referred to in this Section 10.8 and hereby further irrevocably waives and agrees not to plead or claim that any such court is not a convenient forum for any such suit, action or proceeding. The Parties agree that any judgment
obtained by any Party or its successors or assigns in any action, suit or proceeding referred to above may, in the discretion of such Party (or its successors or assigns), be enforced in any jurisdiction, to the extent permitted by applicable law.
The Parties agree that the remedy at law for any breach of this Agreement may be inadequate and that should any dispute arise concerning any matter hereunder, this Agreement shall be enforceable in a court of equity by an injunction or a decree of
specific performance. Such remedies shall, however, be cumulative and nonexclusive, and shall be in addition to any other remedies which the Parties may have. Each Party hereby waives, to the fullest extent permitted by applicable law, any right it
may have to a trial by jury in respect of any litigation as between the Parties directly or indirectly arising out of, under or in connection with this Agreement or the transactions contemplated hereby or disputes relating hereto. Each Party
(a) certifies that no representative, agent or attorney of any other Party has represented, expressly or otherwise, that such other Party would not, in the event of litigation, seek to enforce the foregoing waiver and (b) acknowledges that
it and the other Parties have been induced to enter 

  
 14 

 
into this Agreement by, among other things, the mutual waivers and certifications in this Section 10.8. 
 Section 10.9 Remedies to Prevailing Party. If any action at law or equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable
attorneys’ fees, costs, and necessary disbursements in addition to any other relief to which such party may be entitled. 

Section 10.10 Severability. If any provision of this Agreement or the application thereof to any Person or any circumstance
is held invalid or unenforceable to any extent, the remainder of this Agreement and the application of such provision to other Persons or circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted by law.

 Section 10.11 Amendment or Modification. This Agreement may be amended or modified from time to time only by the
written agreement of all the Parties. 
 Section 10.12 Integration. This Agreement and the exhibit referenced herein
supersede all previous understandings or agreements among the Parties, whether oral or written, with respect to its subject matter. This Agreement and such exhibit contain the entire understanding of the Parties with respect to its subject matter.
In the case of any actual conflict or inconsistency between the terms of this Agreement and the agreement of limited partnership of MLP, the terms of the agreement of limited partnership of MLP shall control. No understanding, representation,
promise or agreement, whether oral or written, is intended to be or will be included in or form part of this Agreement unless it is contained in a written amendment hereto executed by the Parties after the date of this Agreement. 

Section 10.13 Further Assurances. In connection with this Agreement and the transactions contemplated hereby, each Party
shall execute and deliver any additional documents and instruments and perform any additional acts that may be reasonably necessary or appropriate to effectuate and perform the provisions of this Agreement and those transactions. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK.] 

  
 15 

 This Agreement has been duly executed by the Parties as of the date first written above.

  

			
	RENTECH NITROGEN PARTNERS, L.P.
		
	By:	 	RENTECH NITROGEN GP, LLC
		 	its General Partner
		
	By:	 	 /s/ Colin M. Morris

		 	Name: Colin M. Morris
		 	Title: Senior Vice President, General
		 	          Counsel and Secretary
	
	RENTECH NITROGEN GP, LLC
		
	By:	 	 /s/ Colin M. Morris

		 	Name: Colin M. Morris
		 	Title: Senior Vice President, General
		 	          Counsel and Secretary
	
	RENTECH, INC.
		
	By:	 	 /s/ Colin M. Morris

		 	Name: Colin M. Morris
		 	Title: Senior Vice President, General
		 	          Counsel and Secretary

 (Service Agreement) 

 EXHIBIT 1 

The Services shall include the following: 
  

	 	•	 	 services from Administrative Personnel in capacities equivalent to the capacities of corporate executive officers, except that those who serve in such
capacities shall serve on a shared, part-time basis only, unless and to the extent otherwise agreed by MLP and Rentech; 

  

	 	•	 	 administrative and professional services, including legal, accounting, human resources, information technology, insurance, tax, credit, finance,
payroll, investor and public relations, communications, government affairs and regulatory affairs; 

  

	 	•	 	 assistance with accounting and tax audits performed on the Services Recipients; 

 

	 	•	 	 assistance with the books and records of the Services Recipients in accordance with customary practice and generally accepted accounting principles;

  

	 	•	 	 assistance with the reports and other documents filed by MLP with the Securities and Exchange Commission; 

 

	 	•	 	 assistance with Schedules K-1 prepared by MLP; 

  

	 	•	 	 recommendations on capital raising activities to the board of directors of the GP, including (x) the issuance of debt or equity securities, the
entry into credit facilities or other credit arrangements, structured financings or other capital market transactions, and (y) changes or other modifications in the capital structure of the Services Recipients, including repurchases of
securities; 

  

	 	•	 	 managing or overseeing litigation, administrative or regulatory proceedings and investigations of the Services Recipients’ business or operations
that may arise in the ordinary course of business or otherwise, subject to the approval of the Board of Directors of the GP in connection with the settlement, compromise, consent to the entry of an order or judgment or other agreement resolving any
of the foregoing; 

  

	 	•	 	 engineering services; 

  

	 	•	 	 safety and environmental advice; 

  

	 	•	 	 establishing and maintaining appropriate insurance policies with respect to the Services Recipients’ business and operations (to the extent such
insurance policies are not established and maintained by the Services Recipients); 

  

	 	•	 	 recommendations to the Board of Directors of the GP regarding the declaration and payment of cash distributions on the equity interests of the Services
Recipients; 

	 	•	 	 assistance on the timely calculation and payment of taxes payable, and the filing of all taxes return due, by the Services Recipients; and

  

	 	•	 	 managing or providing advice for other projects, including acquisitions, as may be agreed to between GP and Rentech from time to time.Amended and Restated Loan Agreement

 Exhibit 10.1 
 AMENDED AND RESTATED LOAN AGREEMENT 
 THIS AMENDED AND RESTATED LOAN AGREEMENT (“Agreement”) is made effective as of the 3rd day of November, 2011 (the “Effective Date”), by and between FIFTH THIRD BANK, an Ohio banking
corporation, and its successors and assigns (hereinafter referred to as “Lender”), having an address at 8000 Maryland Avenue, Suite 1400, St. Louis, Missouri 63105, and REG DANVILLE, LLC, a Delaware limited liability company
(hereinafter referred to as “Borrower”), with an address of 416 South Bell Avenue, Ames, Iowa 50010. 

Recitals 
 The following recitals are a material part of this Agreement: 
 A.
Borrower (the successor by merger to Blackhawk Biofuels, LLC) acquired all of the assets of Biofuels Company of America, LLC, an Illinois limited liability company (“BCA”) pursuant to that certain Asset Purchase Agreement dated
March 14, 2008 (the “Asset Purchase Agreement”), by and among Borrower, BCA, Renewable Energy Group, Inc., a Delaware corporation, Biodiesel Investment Group, LLC, a Delaware limited liability company and Bunge North America,
Inc., a New York corporation; and 
 B. In connection with the purchase of the assets of BCA, Borrower assumed
BCA’s leasehold interest in that certain property located in the City of Danville, County of Vermilion, State of Illinois, which property is located at 300 N. Anderson Street, and more particularly described in Exhibit A attached
hereto, which by this reference is made a part hereof (the “Property”); and 
 C. On or about
May 9, 2008, Lender extended to Borrower (a) a construction/term loan in the aggregate maximum amount of $24,650,000.00 (the “Construction/Term Loan”) for the purpose of financing (i) the purchase of the assets of
BCA, (ii) the completion of the first stage of construction to develop the Property for utilization as an industrial plant for the production of biodiesel fuel (the “Biodiesel Plant”), and (iii) related development costs,
and (b) a revolving line of credit loan in the aggregate maximum amount of $5,000,000.00 (the “Revolving Credit Loan”) for the purpose of financing the short-term working capital needs of Borrower; and 

D. The Construction/Term Loan and the Revolving Credit Loan are evidenced by that certain Loan Agreement dated
May 9, 2008 (“Loan Agreement”) and as modified by that certain First Amendment to Loan Agreement dated December 23, 2008 (“First Amendment”), that certain Second Amendment to Loan Agreement dated
November 25, 2009 (“Second Amendment”), that certain Third Amendment to Loan Agreement dated February 26, 2010 (“Third Amendment”) and that certain Fourth Amendment to Loan Agreement and First Amendment to
Revolving Credit Loan Note dated September 30, 2010 (“Fourth Amendment” and together with the Loan Agreement, the First Amendment, Second Amendment and Third Amendment, the “Loan Agreement”); and 

E. The Revolving Credit Loan was terminated and paid in full pursuant to the Fourth Amendment; and 

 F. The Construction/Term Loan has been fully dispersed as of the Effective
Date; and 
 G. After giving effect to the conditions precedent set forth herein, the current balance of the
Construction/Term Loan is $16,039,204.70 and the Borrower desires to extend and modify the terms of the Construction/Term Loan; and 
 H. Lender has agreed to modify and extend the Construction/Term Loan to Borrower upon and subject to all of the terms, covenants and agreements of this Agreement; and 

I. This Agreement amends and restates in its entirety the Loan Agreement by and between Borrower and Lender. 

Contractual Provisions 
 NOW, THEREFORE, in consideration of the mutual promises and agreements hereinafter contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto agree as follows: 
 SECTION 1. GENERAL DEFINITIONS. 

1.1 Definitions. All terms as used in this Agreement shall, unless otherwise defined in the body of this
Agreement, have the following meanings (terms defined in the singular to have the same meaning when used in the plural and vice versa): 
 Accounts shall mean all accounts (as defined in the Code), contract rights, chattel paper, instruments and documents, in which Borrower now has or hereafter acquires an interest. 

Affiliate shall mean (i) a Person which owns or otherwise has an interest in 5% or more of any stock of
Borrower or REG, or (ii) 5% or more of the stock or other ownership units of which Borrower or REG (or any shareholder, director, officer, employee or direct or indirect subsidiary of Borrower or REG or any combination thereof) owns or
otherwise has an interest in, or (iii) which, directly or through one or more intermediaries, is controlled by, controls, or is under common control with Borrower or REG. For purposes of subpart (iii) above, “control” means the
ability, directly or indirectly, to affect the management or policies of a Person by virtue of an ownership interest, by right of contract or any other means. 
 Asset Purchase Agreement shall have the meaning set forth in the Recitals to this Agreement. 
 Assignment of Management and Operational Services Agreement shall mean that certain Assignment of Management and Operational Services Agreement dated as of May 9, 2008 by Borrower in favor of
Lender to secure the Obligations, which assignment collaterally assigns all of Borrower’s rights under the Management and Operational Services Agreement to Lender, and any and all consents to such assignment as may be reasonably required by
Lender, and all amendments, modifications, replacements and restatements thereof, and which assignment was ratified by Borrower by document dated as of even date herewith. 

  
 2 

 Assignment of Services Agreement shall mean that certain Assignment
of Services Agreement dated as of May 9, 2008 executed by Borrower in favor of Lender to secure the Obligations, which assignment collaterally assigns all of Borrower’s rights under the Services Agreement to Lender, and any and all
consents to such assignment as may be reasonably required by Lender, and all amendments, modifications, replacements and restatements thereof, and which assignment was ratified by Borrower by document dated as of even date herewith. 

Assignment of Tolling Agreement shall mean that certain Assignment of Toll Processing Agreement dated as of even
date herewith executed by Borrower in favor of Lender to secure the Obligations, which assignment collaterally assigns all of Borrower’s rights under the Tolling Agreement to Lender, and any and all consents to such assignment as may be
reasonably required by Lender, and all amendments, modifications, replacements and restatements thereof. 

BCA shall have the meaning set forth in the Recitals to this Agreement. 

Biodiesel Plant shall have the meaning set forth in the Recitals to this Agreement. 

Borrower shall have the meaning set forth in the Recitals to this Agreement. 

Business Day shall mean any day other than a Saturday, Sunday or a legal holiday on which banks are authorized or
required to be closed for the conduct of commercial banking business in St. Louis, Missouri. 
 Capital
Expenditures shall mean expenditures made and liabilities incurred for the direct or indirect acquisition of any fixed assets or improvements, replacements, substitutions or additions thereto which have a useful life of more than one year,
including, without limitation, payments with respect to capitalized lease obligations. 
 Change of
Control shall mean the occurrence of any of the following: (i) a sale of all or substantially all of the assets of Borrower; (ii) a merger or consolidation involving Borrower, excluding a merger or consolidation after which 50% or more
of the outstanding voting equity interests of Borrower continue to be held by the same holders that held 50% or more of the outstanding voting equity interests of Borrower immediately before such merger or consolidation; or (iii) any issuance
and/or acquisition of voting equity interests of Borrower that results in a person or entity holding 50% or more of the outstanding voting equity interest of Borrower, excluding any underwriter in any firmly underwritten offering and excluding any
persons or entities that collectively held 50% or more of the outstanding voting equity interests of Borrower immediately before such issuance or acquisition; provided, however, that REG may transfer its equity interests in Borrower to a
wholly-owned subsidiary of REG (the “REG Transferree Entity”) if the following conditions precedent are satisfied (i) Borrower shall cause REG to provide notice of such transfer to Lender at least fifteen (15) Business
Days prior to such transfer (the “Equity Transfer Notice”) and (ii) if required by Lender after receipt of the Equity Transfer Notice (which requirement shall be evidence by a written notice provided by Lender to Borrower
within the fifteen (15) Business Day period prior to the transfer to the REG Transferee Entity), the REG Transferee Entity is added as a guarantor under the Debt Service Fund Guaranty. 

City shall mean the City of Danville, Illinois. 

  
 3 

 Code shall mean the Uniform Commercial Code as adopted and in force
in the State of Missouri (or, if deemed applicable, the State of Delaware, or any other deemed applicable state), as from time to time amended. 
 Collateral shall mean all real and personal property of Borrower in which a security interest or other lien has been granted to or for the benefit of Lender pursuant to the Security Agreement, the
Leasehold Mortgage, or the other Loan Documents or which otherwise secures the payment or performance of any of the Obligations. 
 Collateral Documents shall mean the following (including all amendments, modifications, replacements, restatements, renewals and extensions thereof): 

(i) Leasehold Mortgage; 

(ii) Security Agreement; 

(iii) the Assignment of Services Agreement; 

(iv) the Assignment of Management and Operational Services Agreement; 

(v) the Assignment of Tolling Agreement; and 

(vi) the Renewable Fuels Grant Account Agreement. 

Construction/Term Loan shall have the meaning set forth in the Recitals to this Agreement. 

Construction/Term Loan Commitment shall mean the maximum principal amount of $16,039,204.70. 

Construction/Term Loan Maturity Date shall mean November 3, 2014, provided that said date shall be extended
to November 3, 2015 if cumulative principal payments greater than or equal to $6,400,000.00, but not including the first payment of principal from Excess Cash Flow due under Section 3.2(e) of this Agreement, are made by Borrower following
the Effective Date and if the term of the Tolling Agreement is extended through November 3, 2015. 

Construction/Term Loan Note shall mean that certain Construction/Term Loan Note from Borrower to Lender in the
original principal amount of $24,650,000.00, as amended by that certain First Amendment to Construction/Term Loan Note in the principal amount of $16,039,204.70 dated as of even date herewith, and all amendments, modifications, replacements,
restatements, renewals and extensions thereof, which Construction/Term Loan Note shall mature on the Construction/Term Loan Maturity Date. 
 DCEO shall mean the Illinois Department of Commerce and Economic Opportunity. 
 Debt Service Fund Account shall mean that certain escrow account established on behalf of Borrower with Lender, containing a reserve cash balance of $2,000,000.00, which was

  
 4 

 
liquidated and applied to the principal balance of the Construction/Term Loan as a condition precedent to the execution of this Agreement. 

Debt Service Fund Amount shall mean $1,500,000.00. 

Debt Service Fund Guaranty shall mean that certain Guaranty given by REG to Lender and dated as of May 9,
2008, as amended and restated by that certain Amended and Restated Guaranty by REG to Lender on or about the date hereof, which Guaranty guarantees the payment and performance of Borrower’s indebtedness, obligations and liabilities to Lender,
including, without limitation, Borrower’s Obligations under the Loan Documents, up to the Debt Service Fund Amount, and all amendments, modifications, replacements, restatements, extensions and renewals thereof. 

Default means an event that, with giving of notice or passage of time or both, would constitute an Event of
Default. 
 Default Rate shall mean two percent (2.0%) above the then current applicable interest
rate determined pursuant to Section 3.1 herein. 
 Depreciation shall mean depreciation determined
in accordance with GAAP. 
 EO123224 shall have the meaning set forth in Section 7.45. 

EBITDA shall mean, for any period, the Net Income for such period, plus (to the extent deducted in computing net
income) Interest Expense (including imputed interest on capital leases), taxes, depreciation and amortization, and further adjusted to exclude (i) any non-cash gain or loss on the sale of assets, (ii) any gains or losses with respect to
hedging or similar transactions, (iii) extraordinary gains or losses determined in accordance with GAAP, and (iv) any other extraordinary gains or losses as determined by Lender in its sole discretion. 

Effective Date shall have the meaning set forth in the opening paragraph to this Agreement. 

Environmental Laws shall mean any and all laws, statutes, ordinances, rules, regulations, orders, or
determinations of any governmental authority pertaining to health or the environment in effect in any and all jurisdictions in which Borrower is or at any time may be doing business, or where the real property of Borrower is located, including
without limitation, the Clean Air Act, as amended; the Comprehensive, Environmental, Response, Compensation, and Liability Act of 1980, as amended (“CERCLA”), the Federal Water Pollution Control Act Amendments; the Occupational Safety and
Health Act of 1970, as amended (“OSHA”); the Resource Conservation and Recovery Act of 1976, as amended (“RCRA”); the Safe Drinking Water Act, as amended; and the Toxic Substances Control Act, as amended. 

Equity Interests shall mean shares of capital stock, partnership interests, membership interests in a limited
liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such equity interest. 

  
 5 

 ERISA shall mean the Employee Retirement Income Security Act of 1974,
as amended from time to time, and all rules and regulations from time to time promulgated thereunder. 

Event of Default shall mean those events set forth in Section 8.1. 

Excess Cash Flow shall mean with respect to any applicable period, Borrower’s EBITDA, plus Net Income
Bonus to the extent accrued by Borrower and not paid, less (without duplication) the following, to the extent paid by Borrower during such period: (i) principal payments on the Construction/Term Loan, (ii) payments under capitalized
leases, (iii) Interest Expense, (iv) taxes, and (v) unfunded maintenance Capital Expenditures to the extent permitted under this Agreement. For the purpose of calculating the Excess Cash Flow for the 2011 calendar year, the definition
shall include the Principal Paydown made at closing, with the exception of the $2,000,000.00 portion of the Principal Paydown from the Debt Service Fund Account, which $2,000,000.00 shall be excluded in this calculation. 

Financial Covenant Commencement Date shall have the meaning set forth in Section 7.33. 

First Amendment shall have the meaning set forth in the Recitals to this Agreement. 

Fixed Charge Coverage Ratio shall mean the ratio of (i) the sum of Borrower’s Rolling Four-Quarter
EBITDA, plus Net Income Bonus to the extent accrued by Borrower and not paid minus taxes, plus or minus any non-cash items, minus any Restricted Payments minus unfunded maintenance Capital Expenditures (to the extent such
payments have not already been subtracted in determining EBITDA) to (ii) the sum of the principal on long-term Indebtedness due during the twelve month period ending as of the applicable measurement date, plus Interest Expense, all
calculated for the Borrower in accordance with GAAP. Notwithstanding the foregoing, for the first four testing periods commencing with the testing period on the Financial Covenant Commencement Date, the sum of the principal on long-term Indebtedness
due during the twelve month period ending as of the applicable measurement date shall not include the $2,000,000 portion of the Principal Paydown made from the Debt Service Fund Account. 

Fourth Amendment shall have the meaning set forth in the Recitals to this Agreement. 

GAAP means generally accepted accounting principles, applied on a basis consistent with the accounting practices
applied in the financial statements of the Borrower, except for any change in accounting practices to the extent that, due to a promulgation of the Financial Accounting Standards Board changing or implementing any new accounting standard, the
Borrower either (i) is required to implement such change, or (ii) for future periods will be required to and for the current period may in accordance with generally accepted accounting principles implement such change, for its financial
statements to be in conformity with generally accepted accounting principles (any such change is herein referred to as a “Required GAAP Change”), provided that the Borrower shall fully disclose in such financial statements any such
Required GAAP Change and the effects of the Required GAAP Change on the Borrower’s income, retained earnings or other accounts, as applicable. 
 Governmental Approvals shall have the meaning set forth in Section 4.12. 

  
 6 

 Ground Lease shall mean that certain Amended and Restated Ground
Lease Agreement dated as of November 3, 2006 by and between Bunge Milling, Inc. and BCA, as assigned by BCA and assumed by Borrower pursuant to that certain First Amendment, Assignment and Assumption and Consent to Assignment of Ground Lease
and Conveyance of Leasehold Improvements dated May 9, 2008, and as amended by that certain Second Amendment to Ground Lease dated July 7, 2010, and all amendments, modifications, replacements and restatements thereof. 

Guarantor shall mean REG, or any other Person who becomes a guarantor of all or any portion of the Obligations,
each referred to individually as Guarantor and collectively as the Guarantors. 
 Hazardous Materials
shall mean and include gasoline, petroleum, asbestos (asbestiform varieties of chrysotile; crocidolite; amosite; anthophyllite; tremolite; and actinolite), explosives, radioactive materials or any hazardous or toxic material, substance or waste
which is defined by those or similar terms or is regulated as such under any law, statutes, ordinances, rules and regulations of any governmental authority having jurisdiction over the Property or any portion thereof or its use, including:
(i) any “hazardous substance” defined as such in (or for purposes of) the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C.A. § 9601(14) as may be amended from time to time, or any so-called
“superfund” or “superlien” Law, including the judicial interpretation thereof; (ii) any “pollutant or contaminant” as defined in 42 U.S.C.A. § 9601(33); (iii) any material now defined as “hazardous
waste” pursuant to 40 C.F.R. Part 260; (iv) any petroleum, including crude oil or any fraction thereof; (v) natural gas, natural gas liquids, liquefied natural gas, or synthetic gas usable for fuel; (vi) any “hazardous
chemical” as defined pursuant to 29 C.F.R. Part 1910; and (vii) any other substance, regardless of physical form, that is subject to any other Law or other past or present requirement of any governmental authority regulating, relating to,
or imposing obligations, liability, or standards of conduct concerning the protection of human health, plant life, animal life, natural resources, property, or the reasonable enjoyment of life or property from the presence in the environment of any
solid, liquid, gas, odor, any form of energy, any form of contaminant, or from any other source. 
 IFA
shall mean the Illinois Finance Authority. 
 Improvements shall mean all improvements at the Property
and all equipment at the Property. 
 Indebtedness shall mean, without duplication, (i) obligations
for borrowed money or for the deferred purchase price of property or services in respect of which the Borrower is liable, contingently or otherwise, as an obligor, guarantor or otherwise, or in respect of which the Borrower otherwise assures a
creditor against loss; (ii) all other obligations or items which, in accordance with GAAP, would be shown on the liability side of a balance sheet as of the date of occurrence thereof; (iii) the face amount of all letters of credit issued
and, without duplication, all drafts drawn thereunder; (iv) all obligations secured by any lien on any property or asset; (v) obligations under leases which shall have been or should be, in accordance with GAAP, recorded as capital leases
in respect of which, obligations the Borrower is liable, contingently or otherwise, as an obligor, guarantor or otherwise, or in respect of which obligations the Borrower 

  
 7 

 
otherwise assures a creditor against loss; and (vi) unfunded vested benefits under each Plan maintained for employees of the Borrower. 

Interest Expense shall mean, for a fiscal year-to-date period, the total gross interest expense of Borrower during
such period, and shall in any event include (i) interest expensed (whether or not paid) on all Indebtedness, (ii) the amortization of debt discounts, (iii) the amortization of all fees payable in connection with the incurrence of
Indebtedness to the extent included in interest expense, and (iv) the portion of any capitalized lease obligation allocable to interest expense. 
 Inventory shall mean all of the Borrower’s inventory, as such term is defined in the Code, whether now owned or hereafter acquired, whether consisting of whole goods, spare parts or
components, supplies or materials, whether acquired, held or furnished for sale, for lease or under service contracts or for manufacture or processing, and wherever located. 

Landlord shall mean Bunge Milling, Inc. 

Landlord and Mortgagee Agreement shall mean that certain Landlord and Mortgagee Agreement dated as of May 9,
2008 executed by Landlord in favor of Lender, upon terms and conditions to Lender, and all amendments, modifications, replacements and restatements thereof. 
 Laws shall mean, collectively, all federal, state and local laws, statutes, codes, ordinances, orders, rules and regulations, including judicial opinions or precedential authority in the applicable
jurisdiction. 
 Leasehold Mortgage shall mean the Mortgage of Leasehold, Security Agreement, Assignment
of Rents and Leases and Fixture Filing dated May 9, 2008, as modified by that certain Corrective Amendment to Mortgage of Leasehold, Security Agreement, Assignment of Rents and Leases and Fixture Filing dated December 23, 2008 and further
modified as of even date herewith, given by Borrower to Lender encumbering Borrower’s leasehold interest in the Property and securing the Obligations, all amendments, modifications, replacements and restatements thereof. 

Lender shall have the meaning set forth in the Recitals to this Agreement. 

Liabilities shall mean at all times all liabilities of the Borrower that would be shown as such on a balance sheet
of the Borrower prepared in accordance with GAAP. 
 LIBOR shall mean the fluctuating rate of interest
(rounded upwards, if necessary, to the next 1/8 of 1% and adjusted for reserves if Lender is required to maintain reserves with respect to relevant advances) being asked on thirty (30) day Eurodollar deposits, as reported on page Reuters Screen
LIBOR01 Page or any successor thereto, (or any successor) as determined by Lender at approximately 10:00 a.m. Cincinnati, Ohio time on the relevant date of determination. In the event that the Board of Governors of the Federal Reserve System shall
impose a Reserve Percentage with respect to LIBOR deposits of Lender then for any period during which such Reserve Percentage shall apply, LIBOR shall be equal to the amount determined above divided by an amount equal to 1 minus the Reserve
Percentage. 

  
 8 

 Loan shall mean the Construction/Term Loan. 

Loan Account shall mean the loan accounts established on the books of Lender pursuant to Section 2.4 hereof
and in which Lender will record all payments made on the Loan and other appropriate debits and credits as provided by this Agreement with respect to the Borrower. 

Loan Agreement shall have the meaning set forth in the Recitals to this Agreement. 

Loan Documents shall mean this Agreement, the Loan Agreement, the Construction/Term Loan Note, the Leasehold
Mortgage, the Debt Service Fund Guaranty, the Landlord and Mortgagee Agreement, the Assignment of Management and Operational Services Agreement, the Assignment of Services Agreement, the Assignment of Tolling Agreement, the Renewable Fuels Grant
Account Agreement, financing statements and all other documents, instruments and agreements which evidence, secure or are otherwise executed in connection with the Loan, including all amendments, modifications, replacements, restatements, renewals
and extensions thereof. 
 Management and Operational Services Agreement or, in the alternative, the
MOSA shall mean that certain Management and Operational Services Agreement dated May 9, 2008 and as amended by that certain First Amendment to Management and Operational Services Agreement dated November 25, 2009, by and between
Borrower, REG Services Group, LLC, an Iowa limited liability company (“REG Services”), and REG Marketing & Logistics Group, LLC, an Iowa limited liability company (“REG Marketing”), and all amendments,
modifications, replacements and restatements thereof, which as of the date hereof provides for a $75,000.00 Monthly Fee (as defined therein) to REG Services. 
 Modification Documents shall have the meaning set forth in Section 5.1(b). 
 Money Borrowed shall mean the sum of (i) Indebtedness arising from the lending of money by any Person to Borrower; (ii) Indebtedness, whether or not in any such case arising from the
lending by any Person of money to Borrower, (A) which is represented by notes payable or drafts accepted that evidence extensions of credit, (B) which constitutes obligations evidenced by bonds, debentures, notes or similar instruments, or
(C) upon which interest charges are customarily paid (other than accounts payable) or that was issued or assumed as full or partial payment for Property and/or the Improvements; (iii) Indebtedness that constitutes a capitalized lease
obligation; (iv) reimbursement obligations with respect to letters of credit or guaranties of letters of credit and (v) Indebtedness of Borrower under any guaranty of obligations that would constitute Indebtedness for Money Borrowed under
clauses (i) through (iii) hereof, if owed directly by Borrower. 
 Net Income shall mean, for
any period of calculation, the net income of Borrower as determined in accordance with GAAP. 
 Net Income
Bonus shall mean the annual six percent (6%) bonus payable by Borrower to REG Services pursuant to the Management and Operational Services Agreement and as more fully defined therein. 

Net Insurance Proceeds shall have the meaning set forth in Section 7.10(c). 

  
 9 

 Note shall mean the Construction/Term Loan Note. 

Obligations shall mean the Loan and all other advances, debts, liabilities, obligations, covenants and duties
owing, arising, due or payable from Borrower to Lender of any kind or nature, present or future, whether or not evidenced by any note, letter of credit, guaranty or other instrument, whether arising under this Agreement or any of the other Loan
Documents or otherwise and whether direct or indirect (including, without limitation, those acquired by assignment), absolute or contingent, primary, or secondary, due or to become due, now or hereafter arising and however acquired, and all
replacements, renewals, extensions at modifications of any of the foregoing. The term includes, without limitation, all interest, charges, expenses, fees, attorneys’ fees and any other sums chargeable to Borrower under any of the Loan
Documents. The term also includes any of the foregoing that arise after the filing of a petition by or against the Borrower under any bankruptcy or similar law, even if the Obligations do not accrue because of the automatic stay under Bankruptcy
Code §362 or otherwise. 
 OFAC shall have the meaning set forth in Section 7.45. 

Operation Documents shall mean, collectively, the Management and Operational Services Agreement and the Services
Agreement, and all amendments, modifications, replacements and restatements thereof. 
 Permitted
Indebtedness shall mean, without duplication, any of the following: 
 (i) Indebtedness to
trade creditors incurred in the ordinary course of Borrower’s business; 
 (ii) Indebtedness
to Lender, including, without limitation, the Obligations; 
 (iii) [Intentionally omitted]

 (iv) [Intentionally omitted] 

(v) Indebtedness relating to hedging agreements in the ordinary course of Borrower’s business;

 (vi) [Intentionally omitted] 

(vii) any other Indebtedness of Borrower in an amount not exceeding an outstanding amount of $250,000.00
at any one time; 
 (viii) Indebtedness under the Ground Lease and under personal property leases
permitted pursuant to this Agreement or otherwise consented to by Lender in writing; 
 (ix)
[Intentionally omitted] 
 (x) [Intentionally omitted] 

  
 10 

 (xi) other Subordinated Indebtedness approved in advance by
Lender in writing. 
 Permitted Liens shall mean any of the following: 

(i) the encumbrances and other exceptions raised in the Title Policy; 

(ii) liens for taxes, assessments or governmental charges not delinquent or being contested in good faith
and by appropriate proceedings and for which adequate reserves in accordance with GAAP are maintained on the Borrower’s books; 
 (iii) liens arising out of deposits in connection with workers’ compensation, unemployment insurance, old age pensions or other social security or retirement benefits legislation; 

(iv) deposits or pledges to secure bids, tenders, contracts (other than contracts for the payment of
money), leases, statutory obligations, surety and appeal bonds, and other obligations of like nature arising in the ordinary course of the Borrower’s business; 

(v) liens imposed by law, such as mechanics’, workers’, materialmen’s, carriers’ or
other like liens arising in the ordinary course of the Borrower’s business which secure the payment of obligations which are not past due or which are being diligently contested in good faith by appropriate proceedings and for which adequate
reserves in accordance with GAAP are maintained on the Borrower’s books; 
 (vi) purchase
money security interests for the purchase of equipment to be used in the Borrower’s business, securing solely the equipment so purchased, and which do not exceed in the aggregate at any time outstanding $250,000.00, and which do not violate any
provision of this Agreement; 
 (vii) [Intentionally omitted] 

(viii) leases of equipment and other personal property permitted pursuant to this Agreement; and

 (ix) rights of way, zoning restrictions, easements and similar encumbrances affecting the
Borrower’s real property which do not materially interfere with the use of such property. 
 Person
shall mean an individual, corporation, partnership, trust, governmental entity or any other entity, organization or group whatsoever. 
 Plan shall mean an employee benefit plan (as defined in Section 3(3) of ERISA) now or hereafter maintained for employees of Borrower. 

  
 11 

 Prime Rate shall mean the rate of interest announced publicly by
Lender from time to time as its prime rate or other designation in replacement of the prime rate announced by Lender. Such rate may not necessarily be the lowest interest rate offered by Lender. 

Principal Paydown shall mean Borrower’s principal payment of $6,243,200.00 to be made on or before the
Effective Date. 
 Prohibited Persons shall have the meaning set forth in Section 7.45. 

Property shall have the meaning set forth in the Recitals to this Agreement. 

Rate Management Agreement shall mean any agreement, device or arrangement providing for payments which are related
to fluctuations of interest rates, exchange rates, exchange rates, forward rates, or equity prices, including, but not limited to, dollar-denominated or cross-currency interest rate exchange agreements, forward currency exchange agreements, interest
rate cap or collar protection agreements, forward rate currency or interest rate options, puts and warrants, and any agreement pertaining to equity derivative transactions (e.g., equity or equity index swaps, options, caps, floors, collars and
forwards), including, without limitation any ISDA Master Agreement between Borrower and Lender or any affiliate of Lender, and any schedules, confirmations and documents and other confirming evidence between the parties confirming transactions
thereunder, all whether now existing or hereafter arising, and in each case as amended, modified or supplemented from time to time. 
 Rate Management Obligations shall mean any and all obligations of Borrower to Lender or any affiliate of Lender, whether absolute, contingent or otherwise and howsoever and whensoever (whether now
or hereafter) created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefore), under or in connection with (i) any and all Rate Management Agreements, and (ii) any and all
cancellations, buy-backs, reversals, terminations or assignments of any Rate Management Agreement. 

Receivership Action shall have the meaning set forth in Section 8.2(e). 

REG shall mean Renewable Energy Group, Inc., a Delaware corporation. 

REG Ventures shall mean REG Ventures, LLC, an Iowa limited liability company. 

REG Ventures Subordinated Indebtedness shall mean that certain indebtedness of Borrower to REG Ventures pursuant
to that certain Subordinated Loan Agreement dated as of May 9, 2008, and evidenced by that certain Convertible Secured Subordinated Note dated as of May 9, 2008, and as converted to limited liability company units of Borrower and
discharged March 1, 2010. 
 Renewable Fuels Grant shall mean a grant from the DCEO to BCA under the
DCEO’s Renewable Fuels Grant program in an amount not less than $4,000,000.00, as assigned to Borrower pursuant to that certain Asset Purchase Agreement and that certain Novation and Assignment Agreement each dated as of May 9, 2008 by and
among Borrower, BCA and DCEO. 

  
 12 

 Renewable Fuels Grant Account shall mean that certain interest
bearing escrow account containing the proceeds of the Renewable Fuels Grant. 
 Renewable Fuels Grant Account
Agreement shall mean that certain Renewable Fuels Grant Account Agreement and Pledge dated as of May 9, 2008 by and between Borrower and Lender, and all amendments, modifications, replacements and restatements thereof. 

Renewable Fuels Grant Agreement shall mean that certain agreement dated as of November 1, 2006 by and between
BCA and DCEO governing the Renewable Fuels Grant, as assigned to Borrower pursuant to that certain Novation and Assignment Agreement dated as of May 9, 2008 by and among Borrower, BCA and DCEO, and as amended and/or modified from time to time,
including, without limitation, pursuant to that certain Request for Modification/Waiver dated May 9, 2008 from Borrower to DCEO, and all amendments, modifications, replacements and restatements thereof. 

Reserve Percentage shall mean the maximum aggregate reserve requirement (including all basic, supplemental,
marginal and other reserves) which is imposed on member banks of the Federal Reserve System against “Euro-currency Liabilities” as defined in Regulation D. 

Restricted Payment shall mean any dividend or other distribution (whether in cash, securities or other property)
with respect to any Equity Interests in the Borrower, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or
termination of any such Equity Interests in the Borrower or any option, warrant or other right to acquire any such Equity Interests in the Borrower, except as permitted in this Agreement. The definition shall further include (i) any payments,
other than payments made in the ordinary course of business (including the Monthly Fee under the MOSA), to Affiliates of REG by Borrower, including under any debt owed to an Affiliate of REG by Borrower, which debt must be memorialized under formal
promissory notes containing commercially reasonable interest rates and amortization schedules and be fully subordinated to Borrower’s Obligations to Lender and (ii) any Net Income Bonus payments made pursuant to the MOSA. 

Revolving Credit Loan shall have the meaning set forth in the Recitals to this Agreement. 

Rolling Four-Quarter EBITDA shall mean, as to any Person, such Person’s EBITDA for the previous four
(4) fiscal quarters measured as of the last day of the last fiscal quarter then ended. 
 Rolling
Four-Quarter Period shall mean, the period consisting of the previous four (4) fiscal quarters measured as of the last day of the last fiscal quarter then ended. 

Second Amendment shall have the meaning set forth in the Recitals to this Agreement. 

Security Agreement shall mean the Security Agreement executed by Borrower on May 9, 2008 in favor of Lender
and by which such party granted to Lender, as security for the Obligations, a security interest in all presently owned or hereafter acquired personal property of the Borrower, including, without limitation, all Inventory, Accounts, equipment and
general 

  
 13 

 
intangibles of the Borrower, and all amendments, modifications, replacements and restatements thereof. 
 Services Agreement shall mean that certain Services Agreement dated May 9, 2008 by and between Borrower and Bunge North America, Inc., and all amendments, modifications, replacements and
restatements thereof. 
 Subordinated Indebtedness shall mean Indebtedness, whether now existing or
hereafter occurring, which is subordinated to the Obligations pursuant to the terms of a subordination agreement satisfactory to Lender in its sole discretion. 
 Subsidiary shall mean any subsidiary of the Borrower. 

Tangible Assets shall mean the total of all assets appearing on a balance sheet of the Borrower prepared in
accordance with GAAP (with Inventory being valued at the lower of cost or market), after deducting all proper reserves (including reserves for Depreciation) minus the sum of (i) goodwill, patents, trademarks, prepaid expenses, deposits,
deferred charges and other personal property which is classified as intangible property in accordance with GAAP, and (ii) any amounts due from shareholders, Affiliates, officers or employees of the Borrower, but excluding from such deduction
any receivable due from REG Marketing in the ordinary course of business. 
 Tangible Net Worth shall
mean at any time the total of Tangible Assets minus Liabilities. 
 Tax Distributions shall mean
the amount Borrower reasonably estimates (assuming actual federal and state individual tax rates) would equal the federal and state income tax payable as a consequence of allocation of income of Borrower to the member(s) and any Affiliate of such
member(s) for the immediately preceding calendar year. 
 Third Amendment shall have the meaning set
forth in the Recitals to this Agreement. 
 Title Company shall mean First American Title Insurance
Company. 
 Title Policy shall have the meaning set forth in Section 5.1(r). 

Tolling Agreement shall mean that certain REG Danville, LLC Toll Processing Agreement dated on or about the date
hereof and effective as of November 1, 2011, by and between Borrower and REG Marketing. 
 1.2
Accounting Terms. All accounting terms not specifically defined herein shall be construed in accordance with GAAP consistent with that applied in preparation of the financial statements referred to in this Agreement, and all financial data
pursuant to the Agreement shall be prepared in accordance with such principles. 
 1.3 Computation of
Time. In this Agreement, in the computation of a period of time from a specified date to a later specified date, the word “from” means “from and including” and the word “to” means “to but excluding”.

  
 14 

 SECTION 2. THE LOAN 

2.1 Construction/Term Loan. 

(a) Loan Amount. On the basis of the representations, warranties and covenants of Borrower
contained herein and subject to the terms and conditions set forth herein and in the other Loan Documents, Lender agrees to renew the Construction/Term Loan to Borrower in the current aggregate maximum amount of Sixteen Million Thirty-Nine Thousand
Two Hundred Four and 70/100 Dollars ($16,039,204.70). 
 (b) Intentionally Omitted.

 (c) Intentionally Omitted. 

2.2 Intentionally Omitted. 

2.3 Loan to Constitute One Obligation. 

(a) The Loan and all other Obligations of Borrower shall constitute one general obligation of Borrower and
shall be secured by Lender’s security interest in and lien upon all of the Collateral, and by all other security interests and liens heretofore, now or at any time or times hereafter granted by Borrower to Lender. 

(b) To the fullest extent permitted by law, the Borrower hereby waives promptness, diligence, notice of
acceptance, and any other notices of any nature whatsoever with respect to any of the Obligations, and any requirement that Bank protect, secure, perfect or insure any security interest or lien or any property subject thereto or exhaust any right or
take any action against any Guarantor or any other Person or any Collateral. The liability of the Borrower under this Section 2.3 shall be absolute and unconditional irrespective of: 

(i) any change in the time, manner or place of payment of, or in any other term of, any of the
Obligations, or any other amendment or waiver of or any consent to departure from this Agreement, the Note or any of the other Loan Documents; 
 (ii) any exchange, release or non-perfection of any Collateral or any release or amendment or waiver of or consent to departure from any other guaranty, for all or any of the Obligations; or 

(iii) any other circumstance which might otherwise constitute a defense available to, or discharge of,
Guarantor. 
 2.4 Loan Account. 

(a) Lender shall record in the Loan Account all payments made by Borrower on account of the
Construction/Term Loan and all proceeds of Collateral which are finally paid to Lender, and may record therein, in accordance with customary accounting practice, all charges and expenses properly chargeable to a Borrower hereunder. 

  
 15 

 (b) Intentionally Omitted. 

2.5 Rate Management Agreement. In the event that Borrower elects to enter into a Rate Management Agreement, such
Rate Management Agreement shall constitute additional Obligations hereunder secured by the Collateral 
 2.6
Intentionally Omitted. 
 SECTION 3. INTEREST; PAYMENTS; FEES AND RESERVES; TERM 

3.1 Interest Rate. 

(a) Construction/Term Loan. Subject to the terms and provisions of this Agreement, the principal
amount outstanding at the end of each day on the Construction/Term Loan Note shall bear interest from and after the date hereof until the Construction/Term Loan Maturity Date at a fluctuating rate per annum equal to the LIBOR rate plus 5.00%. Lender
shall not be obligated to give notice of any change in the LIBOR rate. Any adjustment to the interest rate pursuant to the terms of this Agreement shall be determined solely by the Lender one banking day prior to the date of adjustment. 

(b) Intentionally Omitted. 

(c) Default Rate. Upon or after the occurrence and during the continuation of any Event of Default,
the principal amount of the Obligations shall bear interest, calculated daily (computed on the actual days elapsed over a year of 360 days), at a rate per annum equal to the Default Rate. 

(d) Computation of Interest. All interest payable under the Construction/Term Loan shall be
computed for the actual number of days elapsed on the basis of a year consisting of three hundred sixty (360) days. 
 (e) Change in Law. Notwithstanding any other provision hereof, if any applicable law, treaty, regulation or directive, or any change therein or in the interpretation or application thereof, shall
make it unlawful for Lender (for purposes of this subsection, the term “Lender” shall include the office or branch where Lender or any corporation or bank then controlling Lender maintains the Loan) to maintain the Loan, or if Lender is
unable to determine LIBOR, or adverse or unusual conditions in, or changes in applicable law relating to, the London interbank market make it, in the reasonable judgment of Lender, impracticable to fund therein the Loan at the rate described above,
or make the projected LIBOR unreflective of the actual costs of funds therefor to Lender, then interest shall accrue on the Loan outstanding at the end of each day at a fluctuating rate per annum equal to the Prime Rate plus 2.50%. 

3.2 Payments. 

(a) Construction/Term Loan. The principal amount and accrued interest of the Construction/Term Loan
Note shall be due and payable on the dates and in the manner hereinafter set forth: (i) commencing on December 1, 2011 and continuing on the first day of 

  
 16 

 
each month thereafter until (but not including) the Construction/Term Loan Maturity Date, Borrower shall make equal monthly payments of principal in the amount of $150,000.00 and (ii) on the
Construction/Term Loan Maturity Date, the entire outstanding principal balance and accrued interest on the Construction/Term Loan Note shall be due and payable. 

(b) Intentionally Omitted. 

(c) Intentionally Omitted. 

(d) Business Day Payment Date. In the event the date of any required payment falls on a
non-Business Day, then such payment may be made on the next succeeding Business Day. 
 (e)
Semi-Annual Cash Flow Recapture. In addition to the other payments required above, Borrower shall make semi-annual principal payments on the outstanding balance of the Construction/Term Loan Note during the term of this Agreement, in amounts
equal to fifty percent (50%) of Borrower’s Excess Cash Flow as of June 30 and December 31, beginning December 31, 2011, with the payment on December 31, 2011 to be based on Borrower’s Excess Cash Flow for the 2011
calendar year, while subsequent payments shall be based on the preceding six month period. Such mandatory principal payments are to be made within ten (10) Business Days following the due date for delivery by Borrower to Lender of the financial
statements required by Section 7.12(a)(ii) for June and Section 7.12(a)(iii) for December, and each such payment shall be applied to the installments of principal due under the Construction/Term Loan Note in the inverse order of their
maturities until payment thereof in full. 
 3.3 Voluntary Payment. 

(a) Construction/Term Loan. Borrower may prepay the Construction/Term Loan in full or in part at
any time, provided that any prepayment of principal shall be accompanied by a payment of interest accrued to date thereon. Any prepayment shall be applied to the principal installments in the inverse order of their maturities. 

(b) Intentionally Omitted. 

3.4 Intentionally omitted. 

3.5 Fees. 
 (a) Fee. On the Effective Date, the Borrower shall pay to the Lender a fully earned and non-refundable fee in an amount equal to $150,000.00. Such fee shall be in consideration of Lender agreeing
to waive as a requirement of the Construction/Term Loan that the IFA provide a guaranty of the Construction/Term Loan to Lender. 
 (b) Intentionally Omitted. 
 (c)
Intentionally Omitted. 

  
 17 

 (d) Late Fee. If any payment of principal, interest
or any other amount hereunder is not paid within fifteen (15) days after it is due, whether at stated maturity, by acceleration or otherwise, the Borrower shall pay to the Lender a late charge equal to five percent (5%) of the amount of
such payment. 
 (e) Intentionally Omitted. 

(f) Intentionally Omitted. 

(g) Debiting Accounts with Lender for Payment of Fees. The Borrower authorizes the Lender to debit
any account maintained by Borrower with Lender for any and all fees and charges due hereunder. The Lender agrees to provide written notice to Borrower of all such fees and charges; provided, however, that Lender’s failure to provide such notice
shall in no way reduce or affect such fees and charges. 
 3.6 Intentionally Omitted. 

3.7 Intentionally Omitted. 

3.8 Increased Costs. In the event that any governmental authority subjects Lender to any new or additional charge,
fee, withholding or tax of any kind with respect to the Loan hereunder or changes the method of taxation of the Loan or changes the reserve or deposit requirements applicable to the Loan, the Borrower shall pay to the Lender such additional amounts
as will compensate the Lender for such cost of lost income resulting therefrom as reasonably determined by the Lender. 
 3.9 Term of Agreement. Subject to the terms of this Agreement, Lender’s obligation to renew the Construction/Term Loan hereunder shall be in effect for a period from the Effective Date through
and including the Construction/Term Loan Maturity Date. All indemnities given by Borrower to Lender under any of the Loan Documents shall survive the repayment of the Construction/Term Loan and the termination of this Agreement. 

3.10 Acknowledgement of IFA Refund. Borrower acknowledges and agrees that the $28,697.28 paid to Lender by the
IFA, on or about the Effective Date, may and shall be retained by Lender. 
 SECTION 4.
REPRESENTATIONS AND WARRANTIES OF BORROWER. To induce Lender to enter into this Agreement, and to renew the Construction/Term Loan, Borrower represents and warrants and, so long as any amount of the Loan remains unpaid or this Agreement
remains in effect, shall be deemed to continuously represent and warrant as follows: 
 4.1 Organizational
Status; Authorizations. Borrower is a limited liability company duly formed, validly existing and in good standing under the laws of the State of Delaware, with full power and authority to consummate the transactions contemplated hereby.
Borrower has full power and authority to execute, deliver and perform all Loan Documents, and such execution, delivery and performance (a) has been duly authorized by all requisite action on the part of Borrower, (b) does not contravene
(i) the Borrower’s certificate of formation or operating agreement, or (ii) any law or contractual restriction binding on or affecting the Borrower or its 

  
 18 

 
properties and (c) does not result in or require the creation of any lien, security interest or other charge or encumbrance upon or with respect to any of the Collateral other than any such
lien in favor of Lender. Borrower is duly authorized to own and develop the Property and the Improvements, to operate the Biodiesel Plant to enter into the transactions contemplated by the Loan Documents and to pledge and assign and grant liens and
security interests as contemplated by the Loan Documents. Borrower has obtained all licenses and permits and has filed all registrations necessary to the operation of its business (except where the failure to so qualify or to obtain such licenses or
permits would not materially and adversely affect the actual or prospective business, financial condition or operations of the Borrower). This Agreement and the other Loan Documents and the provisions contained herein and therein are and will be the
valid and legally enforceable obligations of Borrower in accordance with their terms. Borrower has done everything necessary to comply with all applicable Laws in all material respects. Borrower’s federal tax identification number is
20-2760722. 
 4.2 Intentionally omitted. 

4.3 No Actions. There are no actions, suits or proceedings pending or, to the knowledge of Borrower, threatened
against or affecting Borrower, the Property or the Improvements, or involving the validity or enforceability of the Loan Documents or the priority of the lien of the Leasehold Mortgage, at law or in equity, or before or by a governmental authority.
To the Borrower’s knowledge, it is not in default with respect to any order, writ, injunction, decree or demand of any court or any governmental authority. 

4.4 No Breach. The consummation of the transactions hereby contemplated and performance of this Agreement will not
result in any breach of, or create a default under, any deed to secure debt, mortgage, deed of trust, indenture, security agreement, lease, bank loan or credit agreement, contract, articles of organization, operating agreement, joint venture
agreement, partnership agreement or other instruments to which Borrower is a party or by which it may be bound or subject 
 4.5 Ownership of Property; No Liens. (a) Borrower has (i) good and marketable title to its leasehold interest in the Property and (ii) good and marketable title to its fee interest
in the Improvements, and (b) the Property and the Improvements shall be free and clear of all liens, claims, charges and encumbrances of every type or nature, except for the lien created by the Loan Documents and Permitted Liens. Borrower shall
be the owner of the fee interest in the Improvements at the Property at all times. 
 4.6 Utilities
Available. All utility services necessary for the operation of the Biodiesel Plant for its intended purposes are all available at the boundary of the Property including water supply, storm and sanitary sewer facilities, electric and telephone
facilities, and Borrower has connected all utility services needed for operation of the Biodiesel Plant or related operations. 
 4.7 Access. All roads necessary for ingress and egress to the Property and for the full utilization of the Improvements for their intended purposes including all streets, gutters and curbs have
been installed and completed by Borrower (to the extent Borrower was responsible for same) with the approval of the appropriate governmental authority. 

  
 19 

 4.8 No Defaults; Complete Copies. There is no default on the part of
Borrower under this Agreement, the Note, the other Loan Documents, the Ground Lease, or the Operation Documents, and no event has occurred and is continuing which with notice or the passage of time or either would constitute a default under any of
the aforesaid instruments. The copies of the aforesaid agreements furnished to date to Lender are true, correct and complete copies thereof and all such agreements are all in full force and effect. 

4.9 Financial Statements. In regards to any financial statements delivered to Lender at any time with respect to
Borrower, Borrower represents that the same are true and correct in all material respects, and fairly present the respective financial conditions of Borrower as of the respective dates thereof, no material adverse change has occurred in the
financial conditions reflected therein since the respective dates thereof and no additional borrowings have been made by Borrower since the date thereof other than borrowing contemplated hereby or approved by Lender. 

4.10 Leases. Borrower has no interest in any existing leases (excluding personal property leases where the
scheduled lease payments per calendar year do not exceed $100,000.00) other than the Ground Lease and the personal and real property leases described in Schedule 4.10 attached hereto, which schedule shall be updated by Borrower at the
time of any material change in the leases described therein and which revised schedule shall be promptly furnished to Lender. 
 4.11 Environmental Matters. 
 (a) Except as
discussed in the environmental reports set forth in Schedule 4.11 attached hereto (i) to the best of Borrower’s knowledge, the Improvements, the Property and the operations conducted thereon do not violate any applicable law,
statute, ordinance, rule, regulation, order or determination of any governmental authority or any restrictive covenant or deed restriction (recorded or otherwise), including without limitation all applicable zoning ordinances and building codes,
flood disaster laws and Environmental Laws and regulations; (ii) without limitation of clause (i) above, to the best of Borrower’s knowledge, the Property and the operations conducted thereon by Borrower or any current or prior owner
or operator of such real property or operation, are not in violation of or subject to any existing, pending or threatened action, suit, investigation, inquiry or proceeding by any governmental authority or to any remedial obligations under any
Environmental Laws; (iii) all notices, permits, licenses or similar authorizations, if any, required to be obtained or filed in connection with the operation or use of the Property, including without limitation past or present treatment,
storage, disposal or release of a hazardous substance or solid waste into the environment, have been duly obtained or filed; (iv) to the best of Borrower’s knowledge, all Hazardous Materials and solid wastes generated at the Property have
in the past been and shall continue to be transported, treated and disposed of only by carriers maintaining valid permits under RCRA and any other Environmental Laws and only at treatment, storage and disposal facilities maintaining valid permits
under RCRA, where required, and any other Environmental Laws, which carriers and facilities have been and are, to the best of Borrower’s knowledge, operating in compliance with such permits; (v) Borrower has taken reasonable steps
necessary to determine, and has determined, that no Hazardous Materials or solid wastes have been disposed of or otherwise released and there has been no threatened 

  
 20 

 
release of Hazardous Materials or solid wastes on or to the Property except in compliance with Environmental Laws and except as disclosed in the environmental reports set forth in Schedule
4.11; (vi) Borrower has no material contingent liability in connection with any release or threatened release of any Hazardous Materials or solid wastes into the environment and except as disclosed in the environmental reports set forth
in Schedule 4.11; and (vii) the use which Borrower makes or intends to make of the Property will not result in the unlawful or unauthorized disposal or other release of any Hazardous Materials or solid wastes on or to the Property. The terms
“release” and “threatened release” have the meanings specified in CERCLA, and the terms “solid waste” and “disposal” (or “disposed”) have the meanings specified in RCRA; provided, however, in the
event either CERCLA or RCRA is amended so as to broaden such meanings, then such broadened meanings shall apply subsequent to the effective date of such amendment, and provided further, that, to the extent the laws of any state in which any of the
Property is located establish a meaning for “release”, “solid waste” or “disposal” which is broader than that specified in either CERCLA or RCRA, such broader meaning shall apply with regard to the Property. 

(b) Borrower is in compliance in all material respects with all federal, state, and local Environmental
Laws applicable to the Property and has not been cited for any violation of any federal, state, and local Environmental Laws applicable to the Property and there has been no “release or threatened release of a hazardous substance” (as
defined by CERCLA) or any other release, emission or discharge into the environment of any hazardous or toxic substance, pollutant or other materials from the Property other than as permitted under the applicable Environmental Law. All Hazardous
Materials and solid wastes generated at the Property have and shall continue to be disposed of at sites which maintain valid permits under RCRA and any applicable state or local Environmental Laws where required. 

4.12 Compliance. The use of the Biodiesel Plant as an industrial plant for the production of biodiesel fuel does
not violate (i) any Laws (including subdivision, zoning, building, environmental protection and wetland protection Laws), or (ii) any building permits, restrictions of record or agreements affecting the Property, the Improvements or any
part thereof. Neither the zoning authorizations, approvals or variances nor any other right to use the Improvements is to any extent dependent upon any real estate other than the Property. Without limiting the generality of the foregoing, all
consents, licenses and permits and all other authorizations or approvals (collectively, “Governmental Approvals”) required to operate the Biodiesel Plant have been obtained, except to the extent that failure to obtain any
Governmental Approval would not have a material adverse effect on Borrower, the Improvements and/or the ability of Borrower to pay and/or perform the Obligations, and all Laws relating to the operation of the Improvements have been complied with in
all material respects. No building or other improvement encroaches upon any property line, building line, setback line, side yard line or any recorded or visible easement (or other easement of which Borrower is aware or has reason to believe may
exist) with respect to the Property, and the use of the Improvements complies with all requirements of governmental authorities and any restrictive covenants to which the Property may be subject. 

4.13 Brokerage Fees. No brokerage fees or commissions are payable by or to any person in connection with this
Agreement or the Loan. 

  
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 4.14 No Margin Stock; No Plan Assets. The Loan is not being made for
the purpose of purchasing or carrying “margin stock” within the meaning of Regulation G, T, U or X issued by the Board of Governors of the Federal Reserve System, and Borrower agrees to execute all instruments necessary to comply with all
the requirements of Regulation U of the Federal Reserve System, as at any time amended. Borrower is not a party in interest to any plan defined or regulated by ERISA, and the assets of Borrower are not “plan assets” of any employee benefit
plan by ERISA or Section 4975 of the Internal Revenue Code. 
 4.15 Investments. Borrower has no
loans to or investments in any Person. 
 4.16 Existing Indebtedness. Borrower has no Indebtedness other
than Permitted Indebtedness. 
 4.17 Insolvency. After the Effective Date, Borrower will not be insolvent
within the meaning of the United States Bankruptcy Code or unable to pay its debts as they mature. 
 4.18
Taxes. Borrower has filed all required federal, state, local and other tax returns and has paid, or made adequate provision for the payment of, any taxes due pursuant thereto or pursuant to any assessment received by Borrower except such
taxes, if any, as are being contested in good faith and as to which adequate reserves have been provided. 

4.19 Negative Pledges. Borrower is not a party to or bound by any indenture, contract or other instrument or
agreement which prohibits the creation, incurrence or sufferance to exist of any mortgage, pledge, lien, security interest or other encumbrance upon any of the Collateral in favor of Lender. 

4.20 Intellectual Property. All of Borrower’s material licenses, patents, copyrights, trademarks and trade
names and all of the Borrower’s applications for any of the foregoing are set forth on Schedule 4.20. As of the Effective Date, Borrower shall not have any federally registered patents, copyrights or trademarks. There is no
action, proceeding, claim or complaint pending or, to the best of the Borrower’s knowledge, threatened to be brought against Borrower by any Person which might jeopardize Borrower’s interest in any of the foregoing licenses, patents,
copyrights, trademarks, trade names or applications. 
 4.21 Outstanding Guaranties. Borrower has no
guaranties outstanding, other than the endorsement of instruments for collection in the ordinary course of business. 
 4.22 REG Ventures Subordinated Indebtedness. Borrower acknowledges that the REG Ventures Subordinated Indebtedness was discharged pursuant to the conversion of the REG Subordinated Indebtedness
into limited liability units of Borrower effective March 1, 2010 and that there is no Subordinated Indebtedness existing as of the Effective Date or other Indebtedness other than Permitted Indebtedness existing as of the Effective Date.

 SECTION 5. CONDITIONS PRECEDENT TO THIS AGREEMENT 

5.1 Conditions Precedent to Lender’s Obligation to Modify the Loan Pursuant to This Agreement. Lender shall
not be obligated to modify the Loan pursuant to the terms of this Agreement unless the following conditions precedent shall have been satisfied: 

  
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 (a) Payment of Principal. Borrower shall have made
the Principal Paydown on or before the Effective Date, which shall have been applied by Lender to the outstanding principal balance of the Construction/Term Loan, resulting in the current amount of the Construction/Term Loan Commitment. Borrower and
Lender hereby agree that $2,000,000.00 of the Principal Paydown shall be made by Lender applying the $2,000,000.00 in the Debt Service Fund Account to the principal amount of the Construction/Term Loan, and both Borrower and Lender covenant to such
application notwithstanding anything provided in the Loan Documents to the contrary. 
 (b)
Modification Documents. Lender shall have received the following documents (collectively, and together with this Agreement, the “Modification Documents”), duly executed and delivered by all parties thereto, and otherwise
satisfactory in form and content to Lender and its counsel: 
 (i) First Amendment to
Construction/Term Loan Note; 
 (ii) Leasehold Mortgage Modification Agreement; 

(iii) Assignment of Tolling Agreement; 

(iv) Ratification of Assignment of Services Agreement; 

(v) Ratification of Security Agreement 

(vi) Ratification of Assignment of Management and Operational Services Agreement; and 

(vii) Debt Service Fund Guaranty. 

(c) Governing Instruments. Lender shall have received from Borrower a copy of the Certificate of
Formation of Borrower certified as being true and correct by the Secretary of State of the State of Delaware, a certified copy of Borrower’s Operating Agreement (and all amendments thereto), a certificate of a member or manager of Borrower as
to the incumbency and signature of each representative of Borrower that has executed any document on behalf of Borrower in connection with the transactions contemplated by this Agreement, and such other documents, instruments, agreements and
certificates as Lender may reasonably request with respect to Borrower. 
 (d) Good Standing
and Resolutions. Lender shall have received from Borrower: (i) a good standing certificate from the Secretary of State of the State of Delaware, (ii) certified resolutions authorizing the transactions contemplated by the Modification
Documents in form and content satisfactory to Lender, and (iii) such other documents, instruments and certificates as Lender may reasonably request. 

(e) Legal Opinions. Lender shall have received the following legal opinion letter each in form and
content satisfactory to Lender and its counsel: 

  
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 (i) An opinion letter delivered by counsel for Borrower and
counsel for REG, which opinion shall include, without limitation, (1) an opinion that Borrower is duly organized, validly existing and duly authorized to enter into the Modification Documents and to perform all of the transactions contemplated
by such Modification Documents, (2) an opinion that REG is duly organized, validly existing and duly authorized to enter into the Debt Service Fund Guaranty and to perform all of the transactions contemplated by the Debt Service Fund Guaranty,
(3) the Loan Documents and Modification Documents executed and delivered by Borrower and REG are enforceable against Borrower and REG, as applicable, subject to and limited by the effect of bankruptcy, insolvency, reorganization, moratorium or
other similar laws relating to or affecting the rights of creditors generally, and application of general principles of equity. 
 (f) Tolling Agreement. The Tolling Agreement shall be fully executed as of the Effective Date and remain in full force and effect and enforceable against both Borrower and REG Marketing through the
Construction/Term Loan Maturity Date. The Tolling Agreement shall at all times include tolling fees payable to Borrower by REG Marketing of not less than the following: 

(i) $1.00 per gallon for up to 1,000,000 gallons of monthly production; 

(ii) $0.40 per gallon for the next 250,000 gallons of monthly production; 

(iii) $0.30 per gallon for the next 250,000 gallons of monthly production; and 

(iv) $0.20 per gallon thereafter. 

Neither Borrower nor REG Marketing shall amend, modify or terminate the Tolling Agreement without Lender’s prior written consent,
which consent shall not be unreasonably withheld. 
 (g) Debt Service Fund Guaranty. The
Debt Service Fund Guaranty shall be fully executed by REG and enforceable as of the Effective Date. 
 (h) Financial Statements and Financial Projections. Lender shall have received and approved the financial projections of Borrower and certified copies of current financial statements of the
Guarantor. 
 (i) Intentionally Omitted. 

(j) Intentionally Omitted. 

(k) Intentionally Omitted. 

(l) Intentionally Omitted. 

  
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 (m) Insurance Policies. Lender shall have received
and approved certificates with respect to of all insurance policies, along with any and all required endorsements and certificates thereto, as required by this Agreement and the Loan Documents. 

(n) Compliance. Neither Borrower nor Lender shall have received any notice that claims or asserts
that there has been a failure to comply with or a breach of any of the approvals or authorizations required hereunder. 
 (o) No Default. No Event of Default shall have occurred and be continuing under this Agreement or under any other Loan Document. Borrower represents that no event has occurred and is continuing
which with notice or the passage of time or either would constitute a default or an Event of Default under any of the aforesaid instruments. 
 (p) Intentionally Omitted. 
 (q)
Intentionally Omitted. 
 (r) Title Policy Endorsement. The Title Company shall
have issued to Lender a proforma date down endorsement to Policy Number 345480 dated May 20, 2008 (the “Title Policy”) and will issue any further updates or endorsements as Lender may reasonably request. 

The Title Policy must remain in full force and effect, enforceable against the Title Company in accordance with its terms, except to the
extent that such Title Policy is canceled or terminated solely due to Lender’s gross negligence or willful misconduct. 
 (s) Intentionally Omitted. 
 (t)
Intentionally Omitted. 
 (u) Renewable Fuels Grant. Lender shall have received
evidence reasonably satisfactory to Lender of the status of the Renewable Fuels Grant. 
 (v)
Intentionally Omitted. 
 (w) Intentionally Omitted. 

(x) Intentionally Omitted. 

(y) Representations and Warranties True. Borrower’s representations and warranties shall be
and remain true and correct in all material respects. 
 (z) Intentionally Omitted.

 (aa) Confirmations. If required by Lender in the exercise of its commercially
reasonably judgment, Lender shall have received and approved written 

  
 25 

 
confirmation from Guarantor reaffirming its obligations under the Debt Service Fund Guaranty. 

(bb) No Proceedings or Investigations. No action, proceeding, investigation, regulation or
legislation shall have been instituted, threatened or proposed before any court, governmental agency or legislative body to enjoin, restrain or prohibit, or to obtain damages in respect of the transactions contemplated hereby. 

(cc) No Material Adverse Change. There shall not have occurred any material adverse change in the
business, financial condition or results of operations of Borrower, or the existence or value of any Collateral, or any event, which would reasonably be expected to materially and adversely affect the actual or prospective business, financial
condition or operations of Borrower. 
 (dd) Lender’s Receipt of Documents or Data.
Lender shall have received such other further documents, data or information with respect to the Improvements, and Property, as Lender may reasonably request, including, without limitation, subordination agreements, attornment agreements and
consents from any entities involved in the Loan transaction, all in form and content satisfactory to Lender. 
 (ee) Borrower’s Payment of Fees. Borrower shall have paid all legal fees and other closing or like costs and expenses of Lender which the Borrower is obligated to pay hereunder. 

5.2 Intentionally Omitted. 

5.3 Intentionally Omitted. 

5.4 Intentionally Omitted. 

SECTION 6. INTENTIONALLY OMITTED. 

SECTION 7. COVENANTS OF BORROWER. 

Borrower (in addition to and not in derogation of its covenants contained in any of the other Loan Documents) covenants
and agrees, from the date hereof and for so long as the Loan or any portion thereof is outstanding, and unless Lender otherwise consents in writing, as follows: 

7.1 Prohibition of Transfers and Amendments to Borrower’s Operating Agreement. Borrower shall not
(a) convey or, except for Permitted Liens, further encumber the Property or any Improvements in any way without the prior written consent of Lender, or (b) dispose of any of the Collateral without the prior written consent of Lender,
except for (i) the sale of Inventory in the ordinary course of Borrower’s business and (ii) the disposition of obsolete equipment not used or useful in the Borrower’s business, provided, that such equipment is replaced by
equipment of equal or greater value. Except as provided in this Section, Borrower shall not (a) materially amend its operating agreement, articles of organization or any of its organizational documents without the prior written consent of
Lender, or (b) permit (i) REG or any of its 

  
 26 

 
Affiliates that is a member of Borrower or (ii) any member of Borrower with a greater than eight percent (8%) equity interest in Borrower, to withdraw, voluntarily or involuntarily, as
a member from the Borrower; provided, however, that notwithstanding anything set forth herein to the contrary, REG may transfer its equity interests in Borrower to a wholly-owned subsidiary of REG (the “REG Transferree Entity”) if
the following conditions precedent are satisfied (i) Borrower shall cause REG to provide notice of such transfer to Lender at least fifteen (15) Business Days prior to such transfer (the “Equity Transfer Notice”) and
(ii) if required by Lender after receipt of the Equity Transfer Notice (which requirement shall be evidence by a written notice provided by Lender to Borrower within the fifteen (15) Business Day period prior to the transfer to the REG
Transferee Entity), the REG Transferee Entity is added as a guarantor under the Debt Service Fund Guaranty. 

7.2 Conduct of Business. Borrower shall maintain in full force and effect its organizational existence, good
standing and right to transact business in those states in which it is now or may hereafter be doing business. Borrower shall obtain and maintain all licenses, permits, registrations, bonds, franchises, leases, patents, contracts and other rights
necessary to the operation of its business, including, without limitation, the operation of the Biodiesel Plant, including, without limitation, all notices, permits or licenses, if any, filed or obtained with regard to compliance with Environmental
Laws, except where the failure to do any of the foregoing would not have a material adverse effect on Borrower, the Improvements or Borrower’s ability to pay and/or perform the Obligations. 

7.3 Comply with Requirements. Borrower will comply promptly with any and all Laws and any other requirements of
any governmental authority relating to the Property or the Improvements, except where the failure to so comply would not reasonably be expected to have a material adverse effect on Borrower, the Biodiesel Plant, the Improvements or Borrower’s
ability to pay and/or perform the Obligations. 
 7.4 Inspection. Borrower will permit Lender to enter
upon the Property to inspect the Property and the Improvements. 
 7.5 Reimbursement of Expenses.
Borrower shall pay on demand all costs and expenses in connection with the preparation, negotiation, execution, delivery, filing, recording and administration of the Loan Documents. In addition, but not as a limitation, Borrower will pay:

 (a) all taxes and recording expenses, including all intangible, registration and stamp taxes,
if any; 
 (b) title insurance premiums, appraiser fees and environmental audit fees; 

(c) fees due to brokers in connection with the Property or this Agreement; 

(d) all reasonable legal fees and expenses, including, without limitation, Lender’s counsel’s
fees and expenses for services performed and sums advanced in connection with this loan transaction; 
 (e) [Intentionally omitted]; 

  
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 (f) all fees and out-of-pocket expenses of Lender in
connection with any litigation, contest, dispute, suit, proceeding or action (whether instituted by Lender, Borrower or any other Person) in any way relating to the Collateral, this Agreement, any of the other Loan Documents or Borrower’s
affairs; 
 (g) all fees and out-of-pocket expenses of Lender in connection with any attempt to
enforce any rights of Lender against Borrower or any other Person which may be obligated to Lender by virtue of this Agreement or any of the other Loan Documents; and 

(h) all fees and out-of-pocket expenses of Lender in connection with any attempt to inspect, verify,
protect, preserve, restore, collect, sell, manufacture, liquidate or otherwise dispose of or realize upon the Collateral. 
 All
costs, expenses and fees (including, without limitation, the fees to be paid pursuant to Section 3.5 of this Agreement) shall be payable, on demand, by Borrower to Lender, and shall be additional Obligations hereunder secured by the Collateral
and may be funded, if Lender so elects, by Lender debiting any account maintained by Borrower with Lender. 

7.6 Intentionally Omitted. 

7.7 Intentionally Omitted. 

7.8 Structural Defects. Borrower will, upon demand of Lender, correct any structural defect in the Improvements at
its own cost. 
 7.9 Restrictive Covenants. Borrower will comply with all restrictive covenants affecting
the Property. 
 7.10 Insurance. 

(a) Borrower at its sole cost and expense shall provide or cause to be provided and shall keep in force at
all times for the benefit of Lender, with respect to the Property and the Improvements the following insurance coverages: 
 (i) [Intentionally omitted]; 
 (ii) insurance
against loss of or damage to the Improvements by fire and other hazards covered by so-called “extended coverage” and such other casualties and hazards as Lender shall require from time to time; 

(iii) insurance against loss or damage by earthquake in a commercially reasonable amount; 

(iv) flood insurance in a commercially reasonable amount if the Property is now or later becomes
designated as located in a flood hazard area as described in the Flood Disaster Protection Act of 1973; 

  
 28 

 (v) comprehensive general public liability insurance against
claims for bodily injury, death or property damage; and 
 (vi) such other insurance on the
Property and the Improvements or any replacements or substitutions thereof, as Lender may reasonably require. 
 The policies of
insurance required by this paragraph shall be with companies having at least an A- Class VIII rating by BEST Insurance Reports, and shall be in forms, amounts, limits and coverages and for such periods and subject to such deductibles, as Lender
shall require from time to time, and shall insure the respective interests of Borrower and Lender. Such insurance may not be provided in umbrella policies covering more than one property without the prior written consent of Lender. The insurance
proceeds thereof (other than the proceeds from the policy required under clause (v) above) shall be payable to Lender pursuant to a non-contributing first mortgage endorsement satisfactory in form and substance to Lender. Original policies and
renewals thereof (or satisfactory certificates of insurance) covering the risks provided by this Agreement to be insured against, bearing satisfactory evidence of payment of all premiums thereon, shall be delivered to and held by Lender. At least
ten (10) days prior to the expiration of each policy required to be provided by Borrower, Borrower shall deliver renewal policies or certificates to Lender with appropriate evidence of payment of premiums therefore. Al) insurance policies
required by this Agreement shall: 
 (1) include effective waivers by the insurer of all rights
of subrogation against any named insured, the indebtedness secured by the Leasehold Mortgage and the Property and all claims for insurance premiums against Lender; 

(2) provide that any losses shall be payable to Lender notwithstanding (A) any act, failure to act or
negligence of or violation of warranties, declarations or conditions contained in such policy by any named insured, (B) the occupation or use of the Premises for purposes more hazardous than permitted by the terms thereof, or (C) any
foreclosure or other action or proceeding taken by Lender pursuant to any provision of this Agreement. 
 (3) provide that no cancellation or reduction in amount in coverage thereof shall be effective until at least twenty (20) days after receipt by Lender of written notice thereof; and 

(4) be reasonably satisfactory in all other respects to Lender. 

Borrower shall not permit any activity to occur or condition to exist on or with respect to the Biodiesel Plant, Property or the
Improvements that would wholly or partially invalidate any of the insurance thereon. Borrower shall promptly notify Lender of any material change in coverage under any insurance policy of Borrower. 

(b) Borrower irrevocably makes, constitutes and appoints Lender (and all officers, employees or agents
designated by Lender) as Borrower’s true and lawful attorney-in-fact and agent, with full power of substitution, for the purpose of making and adjusting claims under such policies of insurance, endorsing the name of Borrower on any check,
draft, 

  
 29 

 
instrument or other item of payment of the proceeds of such policies of insurance and for making all determinations and decisions with respect to such policies of insurance required above or to
pay any premium in whole or in part relating thereto. Lender, without waiving or releasing any obligation or default by Borrower hereunder, may (but shall be under no obligation to do so) at any time or times hereafter maintain such action with
respect thereto as Lender deems advisable. All sums disbursed to Lender in connection therewith, including reasonable attorneys’ fees, court costs, expenses and other charges relating thereto, shall be payable, on demand, by Borrower to Lender
and shall be additional Obligations hereunder secured by the Leasehold Mortgage and each of the other Loan Documents which secure the Obligations. Lender agrees not to exercise the power of attorney granted in this subparagraph (b) until the
occurrence of an Event of Default. 
 (c) All proceeds of the insurance required to be obtained
by Borrower hereunder, other than those relating to the insurance required under clause (v) of subparagraph (a) hereof, shall be paid to Lender. Lender may deduct from such proceeds any expenses, including, without limitation, reasonable
legal fees, incurred by it in connection with adjusting and obtaining such proceeds (the balance remaining after such deduction being hereinafter referred to as the “Net Insurance Proceeds”), and thereafter Lender may, subject to
subsection (d) immediately below, apply such proceeds toward the payment or performance of Borrower’s obligations evidenced by this Agreement, the Note or any other Loan Documents, whether or not such obligations are then due, or release
such proceeds to Borrower in accordance with the terms and conditions of the Leasehold Mortgage. So long as Borrower shall not be in default hereunder, Borrower shall have the right to participate with Lender in the adjustment and compromise of any
claims, but the decision of Lender in any such case shall be binding and conclusive upon Borrower. 
 (d) In case of any loss covered by insurance or in case of any damage caused by a taking or exercise of eminent domain, notwithstanding anything in this Agreement to the contrary, provided that
(i) no Event of Default then exists, (ii) the Construction/Term Loan Maturity Date does not fall within the six (6) month period following the date of the casualty or taking, (iii) in Lender’s good faith judgment the
Improvements can be repaired or restored prior to the Construction/Term Loan Maturity Date, (iv) Lender reasonably determines the restoration of the Improvements is economically feasible, (v) Lender reasonably determines that the
Borrower’s operation or financial condition will materially benefit from restoration of the collateral, (vi) Borrower is a viable operating entity at the time the loss occurred, and (vii) Borrower deposits with Lender the amount of
deficiency, if any, between the estimated cost of (x) restoration or repair and completion of the Improvements (as determined by Lender in its good faith judgment) and (y) the amount of Net Insurance Proceeds, then Lender shall make the
Net Insurance Proceeds available to Borrower on the terms and conditions set forth in this Agreement, together with such additional terms and conditions as are customary and as may be reasonably required by Lender in the circumstances. The
application of any insurance proceeds toward the payment or performance of the obligations shall not be deemed a waiver by Lender of its right to receive payment or performance of the rest of the obligations and the interest thereon in accordance
with the provisions of this Agreement. 

  
 30 

 (e) To the extent permitted by such policies, in the event
of a foreclosure under the Leasehold Mortgage, the purchaser of Borrower’s interest in the Property and the Improvements shall succeed to all of the rights of Borrower, including any right to unearned premiums, in and to all policies of
insurance which Borrower is required to maintain under this paragraph and to all proceeds of such insurance. 
 (f) Pursuant to Mo. Rev. Stat. §427.120, Borrower acknowledges receipt of the following notice: “Unless you [Borrower] provide evidence of the insurance coverage required by your agreement with
us [Lender], we may purchase insurance at your expense to protect our interests in your collateral. This insurance may, but need not, protect your interests. The coverage that we purchase may not pay any claim that you make or any claim that is made
against you in connection with the collateral. You may later cancel any insurance purchased by us, but only after providing evidence that you have obtained insurance as required by our agreement. If we purchase insurance for the collateral, you will
be responsible for the costs of that insurance, including the insurance premium, interest and any other charges we may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the
insurance. The costs of the insurance may be added to your total outstanding balance or obligation. The costs of the insurance may be more than the cost of insurance you may be able to obtain on your own.” 

If Borrower fails to maintain any insurance required hereunder or under the other Loan Documents or fails to provide
evidence of such insurance as required hereunder or under the other Loan Documents, Lender may, but shall not be obligated to, purchase such required insurance at Borrower’s expense to protect its interests in the Property and the Improvements.
This insurance may, but need not, protect Borrower’s interests in the Property and the Improvements. The coverage that Lender purchases shall not be required to pay any claim that Borrower makes or any claim that is made against Borrower in
connection with the Property and the Improvements. Borrower may later cancel any insurance purchased by Lender, but only after providing evidence that Borrower has obtained the insurance required hereunder and under any other Loan Document. If
Lender purchases insurance for the Property and/or the Improvements, Borrower will be responsible for the costs of the insurance, including the insurance premiums, interest thereon from the date of each such payment or expenditure at the then
applicable rate under the Construction/Term Loan Note and any other charges Lender may impose in connection with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance. All sums so paid or
expended by Lender, the interest thereon and the other charges in connection therewith shall be added to the Loan and shall be secured by the lien of the Leasehold Mortgage. The costs of the insurance obtained by Lender may be more than the cost of
insurance Borrower may be able to obtain on its own. Unless Lender otherwise agrees in writing, Borrower shall pay to Lender the full costs of such insurance, together with the accrued interest thereon and the other charges in connection therewith,
within thirty (30) days after “Notice of Placement of Insurance” as required by Mo. Rev. Stat. 427.125, 
 (g) In addition to the insurance requirements under (a) - (f) of this Section 7.10, Borrower shall maintain all insurance required to be maintained pursuant to the terms of the Ground Lease.

  
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 7.11 Governmental Requirements. Borrower will comply with all
Environmental Laws and all land use, building, subdivision, zoning. OSHA, pollution, sales practices laws, regulations and similar laws, rules, ordinances and regulations promulgated by any governmental authority and applicable to Borrower’s
business, the Property, its development and construction of Improvements and the operation thereof, except where the failure to so comply would not reasonably be expected to have a material adverse effect on Borrower, the Biodiesel Plant, the
Improvements, or the Borrower’s ability to pay and/or perform the Obligations. 
 7.12 Additional
Documents and Information. 
 (a) Reporting Requirements. Borrower shall furnish the
following to Lender: 
 (i) Monthly Financial Statements. As soon as available and in any
event within thirty (30) days after the end of each month of each fiscal year of Borrower, provide an unaudited and internally prepared financial statement of Borrower certified by an authorized officer of Borrower. 

(ii) Quarterly Covenant Compliance Certificates. Commencing with the fiscal quarter ending
December 31, 2011, as soon as available and in any event within thirty (30) days after the end of each quarter of each fiscal year of Borrower, a consolidated compliance certificate, in the form attached hereto as Exhibit G,
setting forth (A) detailed written calculations for such quarter or as of the last day of such quarter, as appropriate, computing Borrower’s compliance (or failure of compliance) with each of the financial covenants set forth in
Section 7.33 below, (B) a restatement by reference of each of the representations and warranties contained in Section 4 hereof (or providing detailed information why any such representation or warranty cannot be restated), and
(C) a certification that no Default or Event of Default exists as of the date of such certificate, or if any Default or Event of Default exists, providing detailed information concerning the nature of all existing Defaults or Events of Default,
which such compliance certificate shall be certified by an authorized officer of Borrower. 

(iii) Audited Year-End Statements. As soon as available and in any event within one hundred twenty
(120) days after the end of each fiscal year of Borrower, final audited financial statements (as described above but including a statement of changes in financial position) as of the end of such fiscal year of Borrower, prepared by independent
certified accountants reasonably satisfactory to Lender and a copy of any management, operation or other letter or correspondence from such accountant to Borrower in connection therewith; 

(iv) Intentionally Omitted. 

(v) Intentionally Omitted. 

(vi) Intentionally Omitted. 

(vii) Intentionally Omitted. 

  
 32 

 (viii) Intentionally Omitted. 

(ix) Intentionally Omitted. 

(x) Other. Such other information respecting the condition or operations, financial or otherwise, of
Borrower or the Improvements, as Lender may reasonably request from time to time. 
 All financial statements described in
clauses (i), (ii), and (iii) shall be prepared in accordance with GAAP, except that unaudited financial statements shall be subject to normal year-end audit adjustments, and need not contain footnotes. 

(b) Intentionally Omitted. 

7.13 Leases, Sale Agreements, and Subordination, Non-Disturbance and Attornment Agreements. Without the prior
written consent of Lender and except for the Ground Lease, Borrower shall not enter into any lease, except for equipment leases which provide for annual payments not exceeding $100,000.00. Without the prior written consent of Lender, which consent
may be given or withheld in Lender’s sole discretion, the Borrower shall not enter into any purchase or sale agreement of the Property and/or the Improvements. Without the prior written consent of Lender, which consent may be given or withheld
in Lender’s sole discretion, the Borrower shall not enter into any subordination, non-disturbance and attornment agreement with respect to its interest in the Property and/or the Improvements. Borrower shall provide Lender with a copy of any
proposed lease, purchase and sale agreement, or subordination, non-disturbance and attornment agreement no less than forty-five (45) days prior to the anticipated execution thereof. Borrower shall provide Lender with a certified copy of any
fully executed original of any such lease or purchase and sale agreement promptly following its execution. 

7.14 Financial Restrictions on Borrower. 

(a) Borrower shall not, without Lender’s prior written approval, (i) merge, consolidate,
liquidate, terminate or voluntarily dissolve, (ii) pay any loans payable to any Person or entity affiliated with Borrower or REG, including payments on any Subordinated Indebtedness that may hereafter arise other than in accordance with
Section 7.14, or (iii) make any loans or gifts. The restrictions of this Section 7.14(a) do not apply to ordinary course payments made by Borrower, including the Monthly Fee, as defined in and required under the MOSA. 

(b) Borrower shall not, nor shall it permit any Subsidiary to, declare or make, or agree to pay or make,
directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except Borrower may make Restricted Payments annually within thirty (30) days after Lender has received (1) Borrower’s annual
audited financial statements for the applicable fiscal year on which such Restricted Payments are based and (2) supporting calculations from Borrower in form satisfactory to Lender in its reasonable discretion to support the amount of the
proposed Restricted Payments, if the following conditions precedent to such Restricted Payment have been satisfied: 

  
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 (i) For Restricted Payments that constitute Net Income Bonus
payments related to fiscal year 2011: 
 a. Borrower has achieved and maintained an average
collected balance of $1,250,000 for the one hundred eighty (180) day period immediately preceding the date of the proposed Restricted Payment (excluding in such calculation any amounts in the Debt Service Fund Account during such period); and

 b. Lender has received from Borrower the payments to be made under Section 3.2(e) based
on Borrower’s Excess Cash Flow as of December 31, 2011, and then such Restricted Payment shall be permitted only in an amount and to the extent (i) that Borrower’s Fixed Charge Coverage Ratio (measured as of the end of
Borrower’s fiscal year in accordance with Section 7.33 of this Agreement) would not be less than 1.50 to 1.00 after modifying the calculation to take into account both the amount of the Restricted Payment to be made and the payment of all
50% of Excess Cash Flow made pursuant to Section 3.2(e) hereof, and (ii) no Default or Event of Default would result after giving effect to such Restricted Payment. 

(ii) For Restricted Payments that constitute Net Income Bonus payments related to fiscal years after 2011
and for Restricted Payments that constitute dividends or distributions to be made to the member(s) of Borrower at any time after Lender’s receipt of Borrower’s audited financial statements for the fiscal year ending December 31, 2012:

 a. Borrower has achieved and maintained an average collected balance of $1,250,000 for the
one hundred eighty (180) day period immediately preceding the date of the proposed Restricted Payment; and 
 b. Lender has received from Borrower the payments to be made under Section 3.2(e) based on Borrower’s Excess Cash Flow as of June 30 and December 31 for the calendar year prior to the
year in which the Restricted Payment shall be made (provided, that for any Restricted Payment to be made in 2012, Borrower may satisfy the above requirement by making the payment under Section 3.2(e) based on Borrower’s Excess Cash Flow
for calendar year 2011 as of December 31, 2011), and then such Restricted Payments shall be permitted only in an amount and to the extent (i) that Borrower’s Fixed Charge Coverage Ratio (measured as of the end of Borrower’s
fiscal year in accordance with Section 7.33 of this Agreement) would not be less than 1.50 to 1.00 after modifying the calculation to take into account both the amount of the Restricted Payment to be made and the payment of all 50% of Excess
Cash Flow made pursuant to Section 3.2(e) hereof, and (ii) no Default or Event of Default would result after giving effect to such Restricted Payment. 

  
 34 

 (iii) For all Restricted Payments other than Net Income
Bonus payments and Restricted Payments that constitute dividends or distributions to the member(s) of Borrower: 
 a. Borrower has achieved and maintained an average collected balance of $2,000,000 for the twelve month (12) period immediately preceding the date of the proposed Restricted Payment (excluding in
such calculation any amounts in the Debt Service Fund Account during such period); and 
 b.
Lender has received from Borrower the payments to be made under Section 3.2(e) based on Borrower’s Excess Cash Flow as of June 30 and December 31 for the calendar year prior to the year in which the Restricted Payment shall be
made, and then such Restricted Payments shall be permitted only in an amount and to the extent (i) that Borrower’s Fixed Charge Coverage Ratio (measured as of the end of Borrower’s fiscal year in accordance with Section 7.33 of
this Agreement) would not be less than 1.50 to 1.00 after modifying the calculation to take into account both the amount of the Restricted Payment to be made and the payment of all 50% of Excess Cash Flow made pursuant to Section 3.2(e) hereof,
and (ii) no Default or Event of Default would result after giving effect to such Restricted Payment. 
 In
addition, any proposed Restricted Payment that is a payment of Subordinated Indebtedness shall be further subject to the terms, conditions and restrictions of the applicable subordination agreement between Lender and the applicable subordinate
lender. Notwithstanding anything in this Agreement to the contrary, (i) no Restricted Payment shall be made if a Default or Event of Default has occurred and is continuing and (ii) no Restricted Payment (including dividends and
distributions to the member(s) of Borrower) may be made prior to the receipt of Borrower’s audited financial statements for the fiscal year ending December 31, 2012, other than Restricted Payments that constitute Net Income Bonus payments
related to fiscal year 2011. 
 (c) Notwithstanding anything in this Section 7.14 to the
contrary, so long as no Default or Event of Default has occurred and is continuing and Borrower is a disregarded tax entity for United States federal income tax purposes, and after first providing such supporting documentation as Lender may request,
Borrower may make Tax Distributions. 
 7.15 Intentionally Omitted. 

7.16 Intentionally Omitted. 

7.17 Employee Plans. Borrower shall (i) notify Lender promptly of the establishment of any Plan, except that
prior to the establishment of any “welfare plan” (as defined in Section 3(1) of ERISA) covering any employee of Borrower for any period after such employee’s 

  
 35 

 
termination of employment other than such period required by the Consolidated Omnibus Budget Reconciliation Act of 1986, or “defined benefit plan” (as defined in Section 3(35) of
ERISA), it will obtain Lender’s prior written approval of such establishment; (ii) at all times make prompt payments or contributions to meet the minimum funding standards of Section 412 of the Internal Revenue Code of 1986, as
amended, with respect to each Plan; (iii) promptly after the filing thereof, furnish to Lender a copy of any report required to be filed pursuant to Section 103 of ERISA in connection with each Plan for each Plan year, including but not
limited to the Schedule B attached thereto, if applicable; (iv) notify Lender promptly of any “reportable event” (as defined in Section 4043 of ERISA) or any circumstances arising in connection with any Plan which might
constitute grounds for the termination thereof by the Pension Benefit Guaranty Corporation or for the appointment by the appropriate United States District Court of a trustee to administer the Plan, the initiation of any audit or inquiry by the
Internal Revenue Service or the Department of Labor of any Plan or transaction(s) involving or related to any Plan, or any prohibited transaction” as defined in Section 406 of ERISA or Section 4975(c) of the Internal Revenue Code of
1986, as amended; (v) notify Lender prior to any action that could result in the assertion of liability under Subtitle E of Title IV of ERISA caused by the complete or partial withdrawal from any multiemployer plan or to terminate any defined
by the plan sponsored by Borrower; and (vi) promptly furnish such additional information concerning any Plan as Lender may from time to time reasonably request. 

7.18 Intentionally Omitted. 

7.19 No Modifications. Borrower shall not amend, modify or terminate any Operation Document or the Ground Lease
without Lender’s prior written consent, which consent shall not be unreasonably delayed, conditioned or denied. 
 7.20 Books and Records. Borrower shall maintain complete and accurate books and financial records in accordance with GAAP. 

7.21 Hazardous Materials. Borrower shall not cause or permit a release, omission or discharge of any Hazardous
Materials in excess of amounts thereof permitted pursuant to applicable Environmental Laws. 
 7.22
Notice. If Borrower shall receive any of the following: 
 (a) notice that any violation
of any Law or Environmental Law may have been committed or is about to be committed by Borrower or otherwise affecting the Improvements, or 
 (b) notice that any administrative or judicial complaint or order has been filed or is about to be filed against Borrower, the Property or the Improvements alleging violations of any Environmental Law or
requiring Borrower to take any action in connection with the release or threatened release of Hazardous Materials or solid waste into the environment, or 

(c) notice from a federal, state, or local governmental agency or private party alleging that Borrower may
be liable or responsible for costs associated with a response to or cleanup of a release or disposal of a Hazardous Materials or solid waste into the 

  
 36 

 
environment or any damages caused thereby, including without limitation any notice that Borrower is a “potentially responsible party” as defined by CERCLA, or 

(d) [Intentionally omitted.] 

(e) notice under any Operation Document that Borrower is in default thereunder, or 

(f) notice under the Ground Lease that Borrower is in default thereunder, or 

(g) notice of any default with respect to any of the Permitted Indebtedness, or 

(h) notice of any default or recapture under the Renewable Fuels Grant or any agreement executed in
connection therewith, or 
 (i) notice of any default or recapture with regard to any other grant
proceeds received by Borrower or any agreement executed in connection therewith. 
 then Borrower shall provide Lender with a
copy of such notice within five (5) days of Borrower’s receipt thereof. In addition, Borrower shall give prompt notice in writing to Lender of any breach of any of the representations, warranties or covenants in this Agreement or the other
Loan Documents or any development or the occurrence of any event, financial or otherwise, which constitutes a Default or Event of Default or which constitutes a material default under any other agreement to which Borrower is a party or which may or
shall materially and adversely affect the business, properties or affairs of Borrower or its ability to pay and perform its obligations under this Agreement or the other Loan Documents. 

7.23 Litigation. Borrower shall advise Lender within five (5) Business Days, in writing, of any actions,
suits or proceedings brought against Borrower, the Property or the Improvements prior to full payment of the Loan, where the amount in dispute is in excess of $50,000.00. 

7.24 Other Indebtedness. Borrower currently has no Indebtedness other than the Permitted Indebtedness. Borrower
shall not incur any Indebtedness other than the Permitted Indebtedness. 
 7.25 Inspection. 

(a) Lender, or any person designated by Lender, shall have the right, from time to time hereafter (but not
more than once per month unless a Default or Event of Default has occurred and is continuing), to call at Borrower’s place or places of business (or any other place where the collateral or any information relating thereto is kept or located,
including but not limited to REG Services and REG Marketing) during reasonable business hours, without hindrance or delay, (i) to inspect, audit, check and make copies of and extracts from Borrower’s books, records, journals, orders,
receipts, correspondence and other data relating to Borrower’s business or to any transactions between the parties hereto and whether 

  
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such items or data are maintained in accordance with Borrower’s standard operating procedures or pursuant to this Agreement, (ii) to verify such matters concerning the collateral as
Lender may consider reasonable under the circumstances, (iii) to discuss the affairs, finances and business of Borrower with any officers, employees or directors of Borrower, and (iv) to inspect the real property of Borrower, and any
books, records, journals, orders, receipts, correspondence, notices, permits or licenses, with regard to, among other things, compliance with Environmental Laws. Borrower will deliver to Lender, within five (5) days of request therefore, any
instruments necessary to obtain records from any person maintaining the same. 
 (b)
[Intentionally omitted.] 
 (c) Borrower shall pay on demand or within ten (10) days
thereafter all reasonable expenses reasonably incurred by Lender in acquiring information pursuant to this Section. 
 7.26 Bank Accounts; Other Commercial Banking Products. Borrower shall maintain with Lender all escrow, operating, investment, depository, security and reserve accounts and treasury management
services for the Biodiesel Plant and its business operations. Borrower’s operating accounts shall be non-interest bearing accounts, In the event that Borrower procures any additional commercial banking products relative to the Biodiesel Plant,
Borrower shall inform Lender and provide Lender with an opportunity to make a bid to provide such commercial banking product to Borrower. 
 7.27 Intentionally Omitted. 
 7.28 Intentionally
Omitted. 
 7.29 Intentionally Omitted. 

7.30 Renewable Fuels Grant Account. Borrower shall not withdraw any amounts from the Renewable Fuels Grant Account
without the prior written consent of Lender or except as otherwise expressly permitted by this Agreement or by the Renewable Fuels Grant Agreement. All interest income earned on such funds deposited in the Renewable Fuels Grant Account shall remain
in said account. Borrower shall cause the DCEO to directly deposit with Lender all Renewable Fuels Grant proceeds in the Renewable Fuels Grant Account. To the extent Borrower receives any Renewable Fuels Grant proceeds directly from the DCEO,
Borrower shall promptly deposit such proceeds into the Renewable Fuels Grant Account. 
 7.31 Servicing and
Management Payments. Borrower shall not pay any servicing, management or any other fees to REG or any REG Affiliate other than those fees in such amounts as allowed pursuant to (i) the MOSA (as amended with Lender’s consent), which
Borrower shall not further amend without prior written consent by Lender, including, without limitation, increasing the monthly payment of $75,000.00 thereunder, and (ii) the Tolling Agreement, which Borrower shall not amend without prior
written consent by Lender, which consent shall not be unreasonably withheld. Upon the occurrence of an Event of Default and written demand by Lender, Borrower shall suspend further payments under the MOSA until Lender has authorized the continuation
of such payments. 

  
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 7.32 Intentionally omitted. 

7.33 Financial Covenants. 

(a) Minimum Fixed Charge Coverage Ratio. Commencing with the fiscal quarter ending
December 31, 2011 (the “Financial Covenant Commencement Date”), Borrower shall maintain a Fixed Charge Coverage Ratio of at least 1.25 to 1.00 measured as of the end of each fiscal quarter thereafter. The Fixed Charge Coverage
Ratio shall be measured quarterly, on a Rolling Four-Quarter Period basis. 
 (b) Minimum
Tangible Net Worth. Borrower shall maintain a minimum Tangible Net Worth of not less than $36,000,000.00 as of the Financial Covenant Commencement Date. For each fiscal quarter after the Financial Covenant Commencement Date, Borrower’s
minimum Tangible Net Worth requirement shall be increased from the previous fiscal quarter’s minimum Tangible Net Worth requirement by 50% of the Net Income for the fiscal quarter being tested, but only to the extent that Net Income for such
fiscal quarter is a positive number. By way of example only, (i) if Borrower’s Net Income for the fiscal quarter ending on March 31, 2012 was $1,000,000, the Borrower’s minimum Tangible Net Worth requirement for the fiscal
quarter ending on March 31, 2012 would be $36,500,000, (ii) if Borrower’s Net Income for the next fiscal quarter ending on June 30, 2012 was ($500,000), the Borrower’s minimum Tangible Net Worth requirement for the fiscal
quarter ending on June 30, 2012 would remain $36,500,000 and (iii) if Borrower’s Net Income for the next fiscal quarter ending September 30, 2012 was $2,000,000, then Borrower would be required to maintain a minimum Tangible Net
Worth of not less than $37,500,000 for the fiscal quarter ending on September 30, 2012, which amount represents a $1,000,000 increase in the minimum Tangible Net Worth required from the fiscal quarter ending on June 30, 2012 as set forth
in this example. For purposes of this example only, numbers in parenthesis represent negative numbers. 
 (c) [Intentionally Omitted.] 
 7.34 Capital
Expenditures. Commencing upon the Effective Date, Borrower shall not make Capital Expenditures which exceed $300,000.00 during any fiscal year of the Borrower. 

7.35 Ownership of Improvements. Borrower shall be the owner of the fee interest in the Improvements at the
Property at all times. 
 7.36 Intentionally Omitted. 

7.37 Intentionally Omitted. 

7.38 Collateral Appraisal. Upon Lender’s request, Borrower shall, at the Borrower’s expense, provide to
Lender an appraisal of the Collateral, including an Accounts and Inventory audit, by a third-party appraiser acceptable to the Lender in its sole discretion, provided, that so long as no Default or Event of Default has occurred and is continuing,
Lender shall not request such appraisal of Collateral more than once per calendar year. 

  
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 7.39 Liens and Security Interests. Borrower shall not create or
suffer to exist any lien, security interest or other charge or encumbrance, or any other type of preferential arrangement, upon or with respect to any of the Collateral, whether now owned or hereafter acquired, except for liens in favor of Lender
and Permitted Liens. 
 7.40 Restricted Investments. Borrower shall not make or permit to exist any loans
or advances to or any other investment in any Person (including any shareholders of Borrower or any Affiliates), except investments in (i) interest-hearing United States Government obligations, (ii) prime commercial paper rated AAA by
Standard and Poor’s or Prime P-1 by Moody’s Investor Service, Inc., (iii) agreements involving the sale and guaranteed repurchase of United States Government securities, or (iv) any other investments for which Lender has given
its prior written consent. All instruments and documents evidencing such investments shall be pledged to Lender promptly after Borrower’s receipt thereof, shall be security for the Obligations, and shall be Collateral hereunder. 

7.41 Payment of Taxes. Borrower shall pay and discharge, before they become delinquent, all taxes, assessments and
other governmental charges imposed upon it, its properties, or any part thereof, or upon the income or profits therefrom and all claims for labor, materials or supplies which if unpaid might be or become a lien or charge upon any of its property,
except such items as it is in good faith appropriately contesting and as to which adequate reserves have been provided to Lender’s reasonable satisfaction. 

7.42 Maintenance of Properties and Leases. Borrower shall (i) maintain, preserve and keep its properties,
including, without limitation, the Collateral, and every part thereof in good repair, working order and condition (except for such properties as Borrower in good faith determines are not useful in the conduct of its business), (ii) from time to
time make all necessary and customary property repairs, renewals, replacements, additions and improvements thereto so that at all times the efficiency thereof shall be fully preserved and maintained, and (iii) maintain all leases of real or
personal property in good standing, free of any defaults by Borrower thereunder. 
 7.43 Material
Contracts. Borrower shall not enter into any material contract related to the operation of the Biodiesel Plant without the prior written consent of Lender. 
 7.44 Intentionally Omitted. 
 7.45 Compliance with
Anti-Terrorism Orders. Borrower warrants, represents and covenants that neither Borrower, nor any of its affiliated entities is or will be an entity or person (i) that is listed in the Annex to, or is otherwise subject to the provisions of,
Executive Order 13224, 66 Fed. Reg. 49079 (Sept. 25, 2001) (herein referred to as “EO13224”), (ii) whose name appears on the United States Treasury Department’s Office of Foreign Assets Control (“OFAC”)
most current list of “Specifically Designed National and Blocked Persons” (which list may be published from time to time in various mediums including, but not limited to, the OFAC website, http:www.treas.gov/ofachllsdn.pdf), or
(iii) whose name appears on any other such list issued pursuant to EO13224. (Any and all parties or persons described in subparts (i) through (iii) above are herein referred to as “Prohibited Persons”). In addition,
Borrower further warrants, represents and covenants that Borrower will not permit the transfer of any interest in Borrower to 

  
 40 

 
any Prohibited Person. Borrower covenants and agrees that Borrower will (i) conduct any business, nor engage in any transaction or dealing with any Prohibited Person, including, but not
limited to, the making or receiving of funds, goods, or services to or for the benefit of a Prohibited Person, or (ii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or
attempts to violate, any of the prohibitions set forth in EO13224. Borrower further covenants and agrees to immediately notify Lender if Borrower has knowledge that it has not fully complied with the representations and covenants made in this
paragraph. Borrower covenants and agrees to deliver from time to time to Lender any such certification or other evidence as may be requested by Lender in its sole and absolute discretion, confirming that Borrower has fully complied with its
representations and covenants made in this paragraph. 
 7.46 Transactions With Affiliate 

(a) Borrower shall not enter into or be a party to any transaction or arrangement, including without
limitation, the purchase, sale or exchange of property of any kind or the rendering of any service, with any Affiliate, except in the ordinary course of and pursuant to the reasonable requirements of the Borrower’s business and upon fair and
commercially reasonable terms substantially as favorable to the Borrower as those which would be obtained in a comparable arms-length transaction with a non-Affiliate. Lender acknowledges and agrees that the agreements listed on Schedule 7.46, in
the form existing as of the date hereof, do not violate the above provisions of this Section 7.46. 
 (b) Notwithstanding the foregoing to the contrary, following the occurrence of an Event of Default, Borrower shall not pay a bonus, incentive payment, management fee, or similar payment (excluding the
Monthly Fee, as such term is defined in the MOSA) to REG, any Affiliate of REG , or any Affiliate of Borrower. 

7.47 Sale-Leasebacks; Subsidiaries; New Business. Borrower shall not enter into any sale and leaseback transaction
with respect to any of its properties, create any subsidiary, or manufacture any goods, render any services or otherwise enter into any business which is not substantially similar to that existing or contemplated on the Closing Date or business
incidental thereto. 
 7.48 Change of Control. Without the prior written consent of Lender, Borrower
shall not take any action that would trigger a Change of Control. 
 7.49 Sales of Raw Materials. Any raw
materials purchased by Borrower (including, without limitation, soybean oil feedstock and animal fat feedstock) shall be used only for its own internal business purposes, unless Lender otherwise consents in writing. Notwithstanding the foregoing,
Borrower may sell raw materials to its Affiliates, REG and the Affiliates of REG provided that: 

(i) Borrower provides evidence acceptable to Lender that proceeds received from any such sale are equal to
or greater than the amount paid by Borrower for such raw materials; 

  
 41 

 (ii) the purchaser of said raw materials pays for all costs
in connection with the transportation and delivery of such raw materials; 
 (iii) no Event of
Default shall exist; and 
 (iv) said sale of raw materials would not result in a breach under
any material agreement to which Borrower is a party. 
 7.50 Intentionally Omitted. 

7.51 Waiver of Automatic Stay; Supplemental Stay. Borrower unconditionally and irrevocably acknowledges and agrees
that: 
 (a) If any bankruptcy proceeding is commenced by or against Borrower, “cause”
for termination of the automatic stay exists and Lender shall be entitled, subject to the approval of a court of competent jurisdiction, to the immediate entry of an order granting Lender relief from the automatic stay imposed by Section 362 of
the United States Bankruptcy Code (the “Bankruptcy Code”). Borrower consents to the entry of such order and Borrower agree that in no event will they object to or oppose Lender’s motion seeking relief from the automatic stay,
Borrower further agrees that upon Lender’s request from time to time they shall execute and file all documents and take all other actions Lender may deem necessary or appropriate to enable Lender to obtain stay relief and exercise all of its
rights and remedies for collection and enforcement of the Obligations. 
 (b) Borrower shall not
seek or request any other party to seek a supplemental stay or any other relief, whether injunctive or otherwise, under Section 105 or any other provision of the Bankruptcy Code, to stay, interdict, condition, reduce or inhibit the ability of
Lender to enforce any rights it has, under the Loan Documents or otherwise, against the Borrower or against the Collateral. 
 (c) Lender, as a material inducement to enter into this Agreement, has specifically bargained for the concessions set forth in this Section 7.51 and this Agreement may be deemed conclusive evidence
as to such negotiated ongoing intention of the parties and that it is intended to be the primary element in determining if cause exists for granting such concessions. 

(d) Borrower: (i) is a sophisticated commercial party experienced in transactions similar to the
transaction contemplated herein and is represented and advised by experienced real estate professionals and legal counsel of its own choosing, which counsel is experienced in bankruptcy and creditors’ right law and transactions similar to the
transaction contemplated herein, as determined by Borrower in its sole discretion; (ii) has been advised of, and discussed with such legal counsel and other advisors, alternatives to entering into this Agreement, including without limitation, a
petition for relief under any chapter of Title 11 of the United States Code, as amended, and has determined that the transactions described herein are more favorable to it than such alternatives; (iii) has been given good and valuable
consideration for the waiver described in this Section, including Lender’s agreement to forbear, except as set forth in this Agreement, from exercising its rights and remedies. 

  
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 SECTION 8. EVENTS OF DEFAULT AND REMEDIES. 

8.1 Events of Default. 
 Any of the following shall constitute an Event of Default hereunder: 
 (a) If Borrower shall fail to pay any sum due and owing under the Loan on the date such amount becomes due and payable or if Borrower shall fail to pay any other monetary obligation hereunder or under any
of the other Loan Documents on the date each such amount becomes due and payable, and such failure continues for a period of five (5) Business Days after said amount was due. 

(b) If Borrower breaches or fails to comply with any covenant made by it in this Agreement or in any of
the other Loan Documents, including, without limitation, any of the financial covenants in Section 7.33 of this Agreement (other than a failure which would be an Event of Default under another subsection of this Section 8.1), which breach
or failure to comply is not cured to Lender’s satisfaction within thirty (30) days following written notice from Lender of such breach or failure to comply with such covenant; provided further, that if such breach or failure to comply
(i) is incurable, (ii) results in a lien that has priority over Lender’s lien in the Collateral and the priority of Lender’s lien is not fully insured over such prior lien by the Title Policy, or (iii) if the Borrower has
committed any fraud or conversion as to such Collateral or misrepresentation as to the value or condition of such Collateral, Lender need not provide the Borrower with any notice of or right to cure such breach or failure to comply. 

(c) If at any time any representation or warranty made by Borrower herein or in any of the Loan Documents
shall be materially incorrect, and such materially incorrect representation or warranty could reasonably be expected (in Lender’s sole discretion) to have a material adverse effect on Borrower, the Improvements and/or the ability of Borrower to
pay and/or perform the Obligations. 
 (d) If any default or event of default shall exist under
any of the Loan Documents other than this Agreement and such default or event of default shall continue beyond any applicable grace or cure periods. 

(e) [Intentionally omitted.] 

(f) If Borrower, other than as permitted under the Loan Documents, executes any security agreement,
chattel mortgage or other instrument creating a security interest in any materials, fixtures or articles intended to be incorporated in the Improvements or the appurtenances thereto, or in any articles of personal property placed in the
Improvements, or files or permits the filing of a financing statement publishing notice of such security interest, or if any of such materials, fixtures or articles be not purchased so that the ownership thereof will vest unconditionally in Borrower
on delivery at the Property, or if Borrower does not promptly produce to Lender upon demand the contracts, bills of sale, statements, receipted vouchers or agreements, or any of them, under which Borrower claims title to such materials, fixtures and
articles. Notwithstanding anything in this Agreement to the contrary, REG Marketing and Bunge North America, Inc. shall each be permitted to file 

  
 43 

 
financing statements for the sole purpose of notifying creditors as to tangible assets at the Property that are assets actually owned by REG Marketing and/or Bunge North America, Inc., as
applicable, and not the Borrower. 
 (g) [Intentionally omitted]. 

(h) If Borrower defaults beyond any applicable grace or cure period under the terms of any other
indebtedness of Borrower, and such default could reasonably be expected to have a material adverse effect on Borrower, the Biodiesel Plant, and/or Borrower’s ability to pay and/or perform the Obligations. 

(i) If Borrower assigns this Agreement or any interest in this Agreement, or if the Property and/or the
Improvements is conveyed, assigned, mortgaged, pledged or encumbered in any way other than as herein provided without the prior written consent of Lender. 

(j) [Intentionally omitted]. 

(k) If a lien or claim of lien in excess of $50,000.00 for the performance of work or the supply of
materials be filed against the Property or the Improvements and remains unsatisfied for a period of fifteen (15) days after the date of filing thereof, provided that Borrower may cure this default by escrowing an amount equal to 125% of the
amount of such claim with Lender. 
 (l) If Borrower shall generally not pay its material debts
as such debts become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; if any proceeding shall be instituted by Borrower seeking to adjudicate it a bankrupt or
insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the
entry of an order for relief or the appointment of a receiver, trustee, or similar official for it or for any substantial part of its property; if any proceeding shall be instituted against Borrower seeking to adjudicate it a bankrupt or insolvent,
or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of its or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an
order for relief or the appointment of a receiver, trustee, or similar official for it or for any substantial part of its property and any such proceeding is not dismissed within sixty (60) days; or if Borrower shall take any action to
authorize any of the actions set forth in this subsection (l). 
 (m) If any Guarantor shall
generally not pay its material debts as such debts become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; if any proceeding shall be instituted by any
Guarantor seeking to adjudicate it bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any law relating to bankruptcy, insolvency or
reorganization or relief of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee, or 

  
 44 

 
similar official for it or for any substantial part of its property; if any proceeding shall be instituted against any Guarantor seeking to adjudicate it a bankrupt or insolvent, or seeking
liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an order for
relief or the appointment of a receiver, trustee, or similar official for it or for any substantial part of its property and any such proceeding is not dismissed within sixty (60) days; or if any Guarantor shall take any action to authorize any
of the actions set forth in this subsection (m). 
 (n) If any judgment or order, singly or in
the aggregate, for the payment of money in excess of $100,000.00 shall be rendered against Borrower or any of its assets and either (i) enforcement proceedings shall have been commenced by any creditor upon such judgment or order, or
(ii) there shall be any period of fifteen (15) consecutive days during which a stay of enforcement of such judgment or order by reason of a pending appeal or otherwise, shall not be in effect. 

(o) If any provision of any Loan Document after delivery thereof shall for any reason cease to be valid
and binding on Borrower, or Borrower shall so state in writing; or the Leasehold Mortgage after delivery thereof to Lender shall for any reason, except to the extent permitted by the terms thereof, cease to create a valid and perfected first
priority lien and security interest in any of the collateral purported to be covered thereby, except to the extent due solely to Lender’s gross negligence or willful misconduct. 

(p) If any Guarantor shall fail to materially perform, observe or comply with, or a default or event of
default shall occur under any of the terms, covenants, conditions or provisions contained in the Debt Service Fund Guaranty and in any such instance, any applicable cure period has elapsed, or if the Debt Service Fund Guaranty shall for any reason
cease to be valid and binding on any Guarantor, or Guarantor shall so state in writing. 
 (q) If
there shall occur, in the reasonable judgment of Lender, any material adverse change in the financial condition, business, operations or prospects of Borrower or REG. 

(r) Any challenge, whether by litigation or otherwise, shall be asserted against the validity of this
Agreement, the operation of the Biodiesel Plant or any of the transactions carried out pursuant to any of them, including, without limitation, a claim that Borrower has no authority to enter into them, or that such transactions violate any federal,
state or municipal constitution, charter, law, ordinance, regulation, resolution or rule, or any court order, and such challenge shall not be resolved or dismissed within sixty (60) days following the date that Borrower first becomes aware of
such challenge or should have reasonably known of such challenge. 
 (s) If notice is given to
Lender purporting to terminate the operation of the Leasehold Mortgage as security for future advances and/or future obligations, 
 (t) If any Event of Default shall occur under any loan document evidencing any Subordinated Indebtedness. 

  
 45 

 (u) If (i) there shall occur any default or event of
default under the Ground Lease which could reasonably be expected to lead to a termination of the Ground Lease, or (ii) there shall occur any termination of such Ground Lease. 

(v) [Intentionally omitted]. 

(w) [Intentionally omitted]. 

(x) (i) If there shall occur any default or event of default by Borrower under any of the Operation
Documents which default or event of default is not waived, or (ii) any termination of any such Operation Documents without prior written consent by Lender. 

(y) If there shall occur any default or event of default by Borrower under the Rate Management Agreement,
including, without limitation, any nonpayment by Borrower of any Rate Management Obligation when due, and such default shall continue for more than five (5) days after written notice of the same to Borrower. 

(z) [Intentionally omitted.] 

(aa) If there shall occur any default or event of default under the Renewable Fuels Grant Agreement or any
other agreement executed by Borrower and the DCEO in connection with the Renewable Fuels Grant, or if the Renewable Fuels Grant is revoked, terminated or otherwise cancelled by the DCEO for any reason. 

(bb) [Intentionally omitted]. 

(cc) [Intentionally omitted]. 

(dd) [Intentionally omitted]. 

(ee) The Biodiesel Plant fails to produce at least five (5) million gallons of Biodiesel Fuel during
any one year period after the Effective Date. Lender agrees to amend this Loan Agreement to delete Section 8.1(ee) as an Event of Default upon Borrower providing Lender with written evidence that Borrower has obtained an executed amendment to
the Ground Lease that deletes Section 5.1.1 of the Ground Lease in its entirety and such amendment to the Ground Lease does not include any other provision adverse to Borrower or Lender. In addition, in the event that the Borrower provides
Lender with written evidence that Borrower has obtained an executed amendment to the Ground Lease that reduces the minimum Biodiesel Fuel Production requirements set forth in Section 5.1.1 of the Ground Lease (which, as of the date hereof, is
five (5) million gallons of Biodiesel Fuel) and such amendment to the Ground Lease does not include any other provision adverse to Borrower or Lender, Lender agrees to amend this Loan Agreement to modify this Section 8.1(ee) to reflect the
lower minimum production requirement set forth in the Ground Lease. By way of example only, if after the Effective Date Borrower provided Lender with written evidence that Section 5.1.1 of the Ground Lease was amended to provide that Landlord
would have the right to terminate the Ground Lease if Borrower failed to cause the Plant to produce at least three (3) million gallons of Biodiesel Fuel per year for two (2) consecutive years and the Ground Lease amendment did not contain
any other provision adverse to Borrower or 

  
 46 

 
Lender, Lender would agree to amend this Section 8.1(ee) to provide that it would be an Event of Default under this Loan Agreement if the Biodiesel Plant fails to produce at least three
(3) million gallons of Biodiesel Fuel during any one year period after the Effective Date. 

(ff) [Intentionally omitted]. 

8.2 Remedies. Upon the occurrence of any Event of Default and in addition to all remedies conferred upon Lender by
law or in equity, by the terms of the Loan Documents, or by the terms of any other documents serving as security for Borrower’s indebtedness, Lender may pursue any one or more of the following remedies: 

(a) To cancel this Agreement by written notice to Borrower, in which event Lender shall be fully released
and relieved of all obligations and liabilities to Borrower. 
 (b) To institute appropriate
proceedings to specifically enforce performance hereof. 
 (c) [Intentionally omitted].

 (d) To take immediate possession of the Property and Borrower’s leasehold interest in the
Property, as well as all other property to which fee or leasehold title is held by Borrower (and which Lender has a security interest) and to operate the Biodiesel Plant. 

(e) To appoint a receiver (“Receivership Action”) as a matter of strict right without
regard to the solvency of Borrower for the purpose of preserving the property above described, preventing waste, and to protect all rights accruing to Lender by virtue of this Agreement, or under the Loan Documents and expressly to make any and all
further improvements, whether on-site or off-site, as may be determined by Lender for the purpose of operating the Biodiesel Plant. All expense incurred in connection with the appointment of said receiver, or in protecting, preserving, or improving
the Property or the Improvements, shall be chargeable against Borrower and shall be enforced as a lien against the Property and the Improvements. For these purposes, Borrower hereby grants to Lender its limited power of attorney authorizing Lender
to represent their consent to the entry of any order appointing a receiver that Lender may present in the Receivership Action, which order shall include such terms and provisions agreeable to Lender in its sole and absolute discretion. Borrower
herewith waives any and all defenses that it may have with respect to such Receivership Action, and herewith agrees that it shall not assert any such defenses in such Receivership Action. Borrower herewith authorizes the Receiver to take any and all
actions with respect to the Collateral as Lender or receiver deems necessary for the protection or preservation of the Collateral, for the payment, settlement, discharge or disposition of any bills, expenses, liens or charges associated with the
Collateral, or to take any other action as Lender or receiver deem necessary in connection with the Collateral. At any time upon request, whether or not an Event of Default has occurred, Borrower shall execute and deliver to Lender an Order
Appointing Receiver for the purpose of effecting the above provisions. 

  
 47 

 (f) To accelerate maturity of the Leasehold Mortgage, and/or
the Note, and demand payment of the principal sums due thereunder with interest, advances, and costs, and in default of said payment or any part thereof, to exercise the power of sale if given and available, and pursue its other rights and remedies
under the Leasehold Mortgage or the other Loan Documents. 
 (g) To foreclose and to enforce
collection of such payment by foreclosure under the Leasehold Mortgage, and/or other appropriate action in any court of competent jurisdiction. 
 (h) Upon or after the occurrence and during the continuation of any Event of Default, Lender is hereby authorized at any time and from time to time, without notice to the Borrower (any such notice being
hereby waived by the Borrower), to set-off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by Lender to or for the credit or the account of the
Borrower against any and all of the obligations of Borrower to Lender irrespective of whether or not Lender shall have made any demand under this Agreement or the other Loan Documents and although such obligations may be unmatured, The rights of
Lender hereunder are in addition to other rights and remedies (including, without limitation, other rights of set-off) which Lender may have. 
 The remedies and rights of Lender shall be cumulative and not exclusive of any other remedies of Lender under any other provision of this Agreement or under any other instrument or at law or in equity.
Lender shall be privileged and have the absolute right to resort to any one or more, or all of said remedies, none to the exclusion of the others, concurrently or successively, in such order, as Lender may select. Lender shall have the absolute
right to apply any balance of Loan funds as a payment toward the Leasehold Mortgage and the Note, and to the extent allowed by law. Any additional funds shall be secured by the lien of the Leasehold Mortgage and the Security Agreement, and shall be
considered a part of the Loan as though initially included therein. 
 SECTION 9. LENDER’S RIGHT
TO PERFORM OBLIGATIONS. 
 9.1 Intentionally Omitted. 

9.2 Intentionally Omitted. 

9.3 Lender May Perform Obligations; Further Assurances. Upon the occurrence and during the continuance of an Event
of Default, Borrower shall permit Lender, if Lender so elects in its sole discretion, to pay or perform Borrower’s Obligations hereunder or under the other Loan Documents and to reimburse Lender, on demand, or, if Lender so elects, by Lender
debiting any account maintained by Borrower with Lender for any and all fees and charges due hereunder, including, without limitation, the accounts established by Borrower with Lender pursuant to this Agreement, for all amounts expended by or on
behalf of Lender in connection therewith and all reasonable costs and expenses incurred by or on behalf of Lender in connection therewith. 

  
 48 

 SECTION 10. GENERAL CONDITIONS. 

The following conditions shall be applicable throughout the terms of this Agreement: 

10.1 No Waiver. In the event Borrower is unable to satisfy any condition required hereunder, no waiver of such
condition shall have the effect of precluding Lender from thereafter declaring such inability to be an Event of Default as hereinafter provided. 
 10.2 Form Satisfactory. Not in any way in limitation of any other provision of this Agreement, all proceedings taken in connection with the transactions provided herein, all documents required or
contemplated by this Agreement, the designation of the persons responsible for the preparation and execution thereof, and the form of policies of insurance and the issuers thereof shall be reasonably satisfactory to Lender. 

10.3 Notices. Any notice, request, demand, consent, confirmation or other communication hereunder shall be in
writing and delivered (i) in person, by messenger or overnight courier, (ii) by registered or certified mail, return receipt requested and postage prepaid, or (iii) by facsimile, to the applicable party at its address or facsimile
number set forth below, or at such other address or facsimile number as such party hereafter may designate as its address for communications hereunder by notice so given. 

 

			
	 If to Borrower:
	  	 REG Danville, LLC

		  	 416 South Bell Avenue

		  	 Ames, Iowa 50010

		  	 Attention: Daniel J. Oh

		  	 Facsimile No.: (515) 239-8009

		
	 and also:
	  	 Nyemaster, Goode, West, Hansell & O’Brien, PC

		  	 700 Walnut Street, Suite 1600

		  	 Des Moines, Iowa 50309-3899

		  	 Attention: Rick Neumann

		  	 Facsimile: (515) 283-3108

		
	 and also:
	  	 Renewable Energy Group, Inc.

		  	 416 S. Bell Avenue

		  	 PO Box 888

		  	 Ames, Iowa 50010

		  	 Attention: Daniel J. Oh

		  	 Facsimile: (515) 239-8009

		
	 and also:
	  	 Nyemaster, Goode, West, Hansell & O’Brien, PC

700 Walnut Street, Suite 1600
 Des Moines, Iowa 50309-3899

		  	 Attention: Rick Neumann
 Facsimile No.: (515) 283-3108

  
 49 

			
	 If to Lender:
	  	 Fifth Third Bank

		  	 8000 Maryland Avenue, Suite 1400

		  	 St. Louis, Missouri 63105

		  	 Attention: Shawn Hagan and Mary Ann Lemonds

		  	 Facsimile No.: (314) 889-3377

		
	 and also:
	  	 Polsinelli Shughart PC
 100 South Fourth Street, Suite 1000
 St. Louis, Missouri 63102

		  	 Attention: Frederick Miller, Esq.
 Facsimile No.: (314) 622-6766

 Such notices and communications shall be deemed delivered upon receipt (or refusal to accept delivery)
provided that all notices and communications sent by facsimile shall also be evidenced by the facsimile machine’s confirmation identifying the recipient’s facsimile number and transmission and provided further that all notices or other
communications sent by facsimile shall also delivered by another means permitted by under this Section. 
 10.4
No Oral Amendments. Neither this Agreement nor any provision hereof may be changed, waived, discharged or terminated orally, but only by an instrument in writing signed by the party against whom enforcement of the change, waiver, discharge or
termination is sought. 
 10.5 Additional Remedies. The remedies herein provided shall be in addition to
and not in substitution for the rights and remedies which would otherwise be vested in Lender in any Loan Document or in law or equity, all of which rights and remedies are specifically reserved by Lender. The remedies herein provided or otherwise
available to Lender shall be cumulative and may be exercised concurrently. The failure to exercise any of the remedies herein provided shall not constitute a waiver thereof nor shall use of any of the remedies hereby provided prevent the subsequent
or concurrent resort to any other remedy or remedies. It is intended that all remedies herein provided for or otherwise available to Lender shall continue and be each and all available to Lender until all sums due it by reason of this Agreement have
been paid to it in full and all obligations incurred by it in connection with the construction or operation of the Improvements have been fully discharged without loss or damage to Lender. 

10.6 No Partner. Lender is not a partner with Borrower or any other party in the operation of the Improvements.
Lender shall not in any way be liable or responsible by reason of the provisions hereof, or otherwise, for the payment of any claims growing out of the operation of any Improvements. 

10.7 The Collateral Documents as Security. The Collateral Documents shall constitute security for all monies
advanced by Lender and all obligations incurred by Lender in excess of the Loan advanced or incurred by Lender pursuant to the authority of this Agreement; and all such monies advanced and obligations incurred shall constitute a lien upon
Borrower’s interest in the Property and Improvements secured by the Collateral Documents and recovery therefore may be had by Lender upon the Collateral Documents in addition to all other remedies herein granted to Lender. 

  
 50 

 10.8 Usury Savings. Notwithstanding any provision herein or in any
other Loan Document, the total liability of Borrower for any payments of interest or in the nature of interest shall not exceed the limits imposed by the usury laws of the State of Missouri. In the event that such payment is paid by Borrower or
received by Lender, then such excess sum shall be credited as a payment of the principal amount of the Obligations, unless Borrower shall notify Lender, in writing, that they elect to have such excess sum returned forthwith. Such return or credit
shall not cure or waive any Event of Default under this Agreement, the Leasehold Mortgage or any other Loan Document. 
 10.9 Assignment by Lender. Lender may pledge or otherwise hypothecate or may assign in whole or in part, or issue participating interests in amounts of up to $10,000,000.00 in the aggregate, in and
to this Agreement and any of its rights and security hereunder, and the Note, the Leasehold Mortgage and all other Loan Documents, to any other person, firm or corporation provided that all of the provisions of this Agreement shall continue to apply
to the Loan, the Note, the Leasehold Mortgage and the other Loan Documents. In the event of such assignment, it shall be deemed in compliance by Lender with this Agreement and to have been made in pursuance of this Agreement and not to be in
modification hereof. In the case of any such transfer, whether by assignment, issuance of participations, pledge, or hypothecation, by Lender, Borrower will accord full recognition thereto and agrees that all rights and remedies of Lender in
connection with the interest so transferred shall be enforceable against Borrower by such institution with the same force and effect and to the same extent as the same would have been enforceable by Lender but for such transfer. 

10.10 Release. The Borrower hereby absolutely and unconditionally releases and forever discharges the Lender, and
any and all participants, parent corporations, subsidiary corporations, affiliated corporations, insurers, indemnitors, successors and assigns thereof, together with all of the present and former directors, officers, agents, employees and attorneys
of any of the foregoing, from any and all claims, demands or causes of action of any kind, nature or description, whether arising in law or equity or upon contract or tort or under any state or federal law or otherwise, which the Borrower has had,
now has or has made claim to have against any such person for or by reason of any act, omission, matter, cause or thing whatsoever arising from the beginning of time to and including the date of this Amendment, whether such claims, demands and
causes of action are matured or unmatured or known or unknown. 
 10.11 Additional Documents. Borrower
agrees upon demand to do any act or execute any additional documents (including, but not limited to, security agreements on any personalty included or to be included in the Property or the Improvements) as may be reasonably required by Lender to
secure the Note, to confirm the lien of the Leasehold Mortgage, or any other applicable Loan Document, or to otherwise create, evidence, assure or enhance Lender’s rights and remedies under, or as contemplated by, the Loan Documents or at law
or in equity. All of said documents shall be in form and substance prepared by or acceptable to Lender. 
 10.12
Binding Effect; Continuing Agreement. The terms, conditions, covenants, agreement, powers, privileges, notices and authorizations herein contained shall extend to, be binding upon and available to the heirs, executors, administrators,
successors and, to the extent permitted hereunder, the assigns of each of the respective parties hereto. Notwithstanding the foregoing, Borrower shall not, without the prior, written consent of Lender, assign or transfer

  
 51 

 
voluntarily or by operation of law this Agreement. An assignment or transfer in violation of this provision shall be invalid and of no force or effect. Borrower’s obligations, covenants,
representations and warranties hereunder shall continue beyond the final disbursement of the Loan made hereunder for so long as Borrower has any obligations outstanding Lender, or Lender has any lien on any property of Borrower. 

10.13 Governing Law. This Agreement and each transaction consummated hereunder shall be deemed to be made under
the laws of the State of Missouri and shall be construed in accordance with and governed by the laws of such State. 
 10.14 Headings. The titles and headings of the paragraphs of this Agreement have been inserted for convenience of reference only and are not intended to summarize or otherwise describe, or limit,
modify or expound upon the subject matter of such paragraphs. 
 10.15 Lender’s Discretion. Any
condition of this Agreement which requires the submission of evidence of the existence or non-existence of a specified fact or facts implies as a condition the existence or non-existence, as the case may be, of such fact or facts and Lender shall,
at all time, be free independently to establish to its satisfaction and in its reasonable discretion such existence or non-existence. Except as otherwise expressly provided in this Agreement, whenever Lender’s judgment, consent or approval is
required hereunder for any matter, or Lender shall have an option or, election hereunder, such judgment, the decision as to whether or not to consent to or approve the same or the exercise of such option or election shall be in the sole discretion
of Lender. 
 10.16 Consent to Forum. As part of the consideration for new value this day received,
Borrower hereby consents to the jurisdiction of any state court located within St. Louis County, Missouri or the United States District Court, Eastern District of Missouri, Eastern Division, and waives personal service of any and all process upon
Borrower and consents that all such service of process be made by certified or registered mail directed to Borrower at the address set forth in Section 10.3 hereof, and service so made shall be deemed to be completed upon actual receipt
thereof. Nothing contained herein should be deemed to affect the parties’ right to remove to Federal Court within the Eastern District of Missouri. Borrower waives any objection to jurisdiction and venue of any action instituted against
Borrower as provided herein and agrees not to assert any defense based on lack of jurisdiction or venue. Borrower further agrees not to assert against Lender (except by way of a defense or counterclaim in a proceeding initiated by Lender) any claim
or other assertion of liability with respect to this Agreement, the Note, any of the Loan Documents, Lender’s conduct in respect of any foregoing or otherwise in any jurisdiction other than the foregoing jurisdictions. Nothing in this section
shall affect the right of Lender to serve legal process any other manner permitted by law or affect the right of Lender to bring any action or proceeding against Borrower in the courts of any other jurisdictions. 

10.17 Waiver of Jury Trial. TO THE FULLEST EXTENT PERMITTED BY LAW, AND AS SEPARATELY BARGAINED FOR CONSIDERATION
TO LENDER, BORROWER HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY (WHICH LENDER ALSO WAIVES) IN ANY ACTION, SUIT, PROCEEDING OR COUNTERCLAIM OF ANY KIND ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE NOTE, ANY OF THE LOAN DOCUMENTS OR LENDER’S
CONDUCT IN RESPECT OF ANY OF THE FOREGOING. 

  
 52 

 10.18 Incorporation by Reference; Statement Required By Mo. Rev. Stat.
Section 432.047. All of the terms of the other Loan Documents are incorporated in and made part of this Agreement by reference. Pursuant to Mo. Rev. Stat. Section 432.047, Lender hereby gives the following notice to Borrower:

 “Oral agreements or commitments to loan money, extend credit or to forbear from enforcing repayment
of a debt including promises to extend or renew such debt are not enforceable, regardless of the legal theory upon which it is based that is in any way related to the credit agreement. To protect you (borrower(s)) and us (creditor) from
misunderstanding or disappointment, any agreements we reach covering such matters are contained in this writing, which is the complete and exclusive statement of the agreement between us, except as we may later agree in writing to modify it.”

 10.19 Counterparts. This Agreement may be executed in counterparts including facsimile
counterparts), any one of which shall be deemed an original, and all of which taken together shall he treated as one document. 

[SIGNATURES ON FOLLOWING PAGE] 

  
 53 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day
and year first above written. 
  

			
	 REG DANVILLE, LLC,

	 a Delaware limited liability company

		
	 By:
	 	 /s/ Daniel J. Oh

		
	 Name:
	 	 Daniel J. Oh

		
	 Title:
	 	 President

	
	 FIFTH THIRD BANK,

	 an Ohio banking corporation

		
	 By:
	 	 /s/ Mary Ann Lemonds

		 	 Mary Ann Lemonds, Vice President

  
 54 

 EXHIBIT A 
 LEGAL DESCRIPTION OF PROPERTY 
  

	A.	 Legal Description of Leased Premises 

 A tract of land being part of the Northwest Quarter of Section 9, Township 19 North, Range II West of the Second Principal Meridian, Vermilion County, Illinois and also part of Chs’ Leverenz
First Addition to the City of Danville, Vermilion County, Illinois, Edward C. Lamm’s Addition to Danville, Illinois and Fred Stebe’s Addition to the City of Danville, Vermilion County, Illinois as all 3 subdivisions are recorded in the
Vermilion County Recorder’s Office, and also the vacated public Right-of-Ways for Section Street, Short Street, Anderson Street, Harrison Street and the public alleys per City of Danville, Illinois Ordinance Number 8499, recorded as Document
Number 06-12386 in said Vermilion County Recorder’s Office, described as follows, with bearings on a local datum: 

Beginning at the Northeast corner of Lot 1 in said Chs’ Leverenz First Addition, proceed North 88° 26’ 08” East along
an Easterly extension of the North line of said Lot, 24.06 feet to the Westerly Right-of-Way line of the former C. & E. I. Railroad; thence South 23° 16’ 43” East along said Westerly Right-of-Way line of the former
C. & E. I. Railroad, 96.74 feet to the East Right-of-Way line of Anderson Street; thence South 2° 27’ 08” West along said East Right-of-Way line of Anderson Street, 75.37 feet to an Easterly extension of the South line of said
Lot 1; thence South 88° 25’ 51” West along said extension of the South line, 66.16 feet to the Southeast corner of said Lot 1; thence South 2° 27’ 08” West along a Southerly extension of the East line of said Lot, 50.12
feet to the Northeast corner of Lot 1 in Christ Everts 1st Addition to the City of Danville, Illinois, as recorded in said Vermilion County Recorder’s Office, said comer also being on the South Right-of-Way line of Harrison Street; thence South
88° 25’ 51” West along said South Right-of-Way line of Harrison Street, 280.15 feet; thence South 88° 31’ 59” West along said South Right-of-Way line of Harrison Street, 443.13 feet; thence North 2° 35’ 14”
East along said South Right-of-Way line of Harrison Street, 25.15 feet; thence South 88° 31’ 59” West along said South Right-of-Way line of Harrison Street, 220.89 feet to the West Right-of-Way line of Section Street; thence North
2° 48’ 17” East along said West Right-of-Way line of Section Street, 305.28 feet to a line being a Westerly extension of the North line of Lot 12 in said Edward C. Lamm’s Addition; thence North 88° 33’ 27” East along
said Westerly extension of the North line and along said North line, 66.54 feet to the Northeast corner of said Lot 12; thence South 2° 45’ 04” West along the East line of said Lot, 124.94 feet to the Southeast corner of said Lot 12;
thence North 88° 32’ 47” East along the South lines of Lots 11, 10, 9, 8 and 7 in said Edward C. Lamm’s Addition, 250.60 feet to the Southeast corner of said Lot 7; thence North 2° 28’ 42” East along the East line of
said Lot, 124.85 feet to the Northeast corner of said Lot 7; thence North 88° 33’ 27” East along an Easterly extension of the North line of said Lot 7 and along the North lines of Lots 6, 5, 4, 3, 2 and 1 in said Edward C. Lamm’s
Addition and along an Easterly extension of said North lines, 344.04 feet to the West line of Lot 9 in said Fred Stebe’s Addition; thence North 2° 09’ 08” East along said West line, 30.56 feet to the Northwest corner of said Lot
9; thence North 88° 29’ 47” East along the North line of said Lot, 56.31 feet to the Northeast corner of said Lot 9; thence South 2° 11’ 37” West along the East line of said Lot, 128.36 feet to the Southeast corner of
said Lot 9; thence South 88° 26’ 08” West along the South line of said Lot, 56.22 feet to the Southwest corner of said Lot 9; thence South 2° 09’ 06” West 

  
 A-1

 
along a Northerly extension of the West line of Lot 4 in said Chs’ Leverenz First Addition, 16.50 feet to the Northwest corner of said Lot 4; thence North 88° 26’ 08” East
along the North line of said Lot 4 and along the North lines of Lots 3 and 2 and said North line of Lot 1, all in said Chs’ Leverenz First Addition, 281.02 feet to the Point of Beginning, encompassing 5.924 acres more or less. 

 

	B.	 Intentionally Omitted. 

  

	C.	 Legal Description of Access Right of Way Easement  

 A tract of land being a part of the North one-half of Section 9, Township 19 North, Range 11 West of the Second Principal Meridian, Vermilion County, Illinois, described as follows, with bearings on
a local datum: 
 Commencing at the Northeast corner of Lot 1 in Christ Evert’s 1st Addition to the City of Danville,
Illinois, as recorded in the Vermilion County recorder’s office, said corner also being on the South Right-of-Way line of vacated Harrison Street (platted as Madison Street), proceed South 88° 25’ 51” West along said South
Right-of-Way line, 280.15 feet; thence South 88° 31’ 59” West along said South Right-of-Way line, 184.85 feet to the True Point of Beginning; thence continue South 88° 31’ 59” West along South Right-of-Way line, 50.30
feet; thence South 33° 31’ 40” East, 42.68 feet; thence South 00° 57’ 00” West, 405.00 feet; thence South 20° 47’ 53” East, 210.22 feet; thence North 74° 55’ 37” East, 42.68 feet, thence South
15° 19’ 21” East, 136.89 feet; thence South 02° 33’ 00” West, 16.14 feet to the North Right-of-Way line of North Street; thence South 87° 27’ 00” East along said North Right-of-Way line, 180.54 feet; thence
North 02° 23’ 00” East, 351.45 feet; thence South 88° 09’ 07” West, 130.15 feet; thence North 02° 27’ 08” East, 138.58 feet; thence South 88° 16’ 50” West, 195.96 feet; thence North 00°
57’ 00” East, 300.00 feet; thence North 16° 15’ 59” East, 4.15 feet to the True Point of Beginning, encompassing 2.922 acres more or less. 
  

	D.	 Legal Description of Underground Gas Pipeline Easement 

A tract of land being 12.00 feet in width and being centered upon the following described center line and being part of the North one-half
of Section 9, Township 19 North, Range 11 West of the Second Principal Meridian, Vermilion Country, Illinois, described as follows, with bearing on a local datum: 
 Commencing at the Northeast corner of Lot 1 in Christ Evert’s 1st Addition to the City of Danville, Illinois, as recorded in the Vermilion County recorder’s office, said corner also being on the
South Right-of-Way line of vacated Harrison Street (platted as Madison Street), proceed South 88° 25’ 51” West along said South Right-of-Way line, 6.00 feet to the True Point of Beginning of said center line; thence South 02°
27’ 08” West along a line being parallel with the West Right-of-Way line Anderson Street, 309.50 feet; thence South 88° 33’ 32” West, 477.00 feet; thence South 02° 03’ 14” East, 133.94 feet; thence South 08°
49’ 38” East, 50.50 feet; thence South 68° 39’ 13” West, 109.57 feet; thence South 21° 14’ 31” East, 70.33 feet; thence South 12° 47’ 11” East, 46.53 feet; thence South 19° 46’ 04”
West, 140.44 feet; thence South 01° 35’ 19” West, 204.49 feet; thence North 87° 48’ 14” West, 801.27 feet; thence North 67° 37’ 

  
 A-2

 
59” West, 48.04 feet; thence North 46° 31’ 27” West, 33.50 feet to the point of ending of said center line. 

 

	E.	 Legal Description of Biodiesel Pipeline Easement 

 A tract of land being 20.00 feet in width and being centered upon the following described center line and being part of the North one-half of Section 9, Township 19 North, Range 11 West of the Second
Principal Meridian, Vermilion Country, Illinois, described as follows, with bearing on a local datum: 

Commencing at the Northeast corner of Lot 1 in Christ Evert’s 1st Addition to the City of Danville, Illinois, as recorded in the
Vermilion County recorder’s office, said corner also being on the South Right-of-Way line of vacated Harrison Street (platted as Madison Street), proceed South 88° 25’ 51” West along said South Right-of-Way line, 280.15 feet;
thence South 88° 31’ 59” West along said South Right-of-Way line, 443.13 feet; thence North 02° 35’ 14” East along said South Right-of-Way line, 25.15 feet; thence South 88° 31’ 59” West along said
Right-of-Way line, 41.61 feet to the True Point of Beginning of said center line; thence South 44° 44’ 27” West, 318.70 feet; thence North 78° 26’ 57” West, 107.90 feet; thence South 66° 39’ 16” West, 59.97
feet; thence South 19° 59’ 46” West, 10.00 feet to the point of the ending of said center line. 

  
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 EXHIBIT F 

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 EXHIBIT G 
 QUARTERLY COMPLIANCE CERTIFICATE 

            , 20     

 

	To:	 FIFTH THIRD BANK (“Bank”) 

 8000 Maryland Ave., Ste. 1400 St. Louis, Missouri 63105 
 Re:
REG Danville, LLC (“Borrower”) 
 To Whom It May Concern: 

1. Representations and Warranties. Each of the representations and warranties set forth in Section 4 of the
Loan Agreement by and between Borrower and Bank, dated as of May 9, 2008, as amended by that certain First Amendment to Loan Agreement dated December 23, 2008, that certain Second Amendment to Loan Agreement dated November 25, 2009,
that certain Third Amendment to Loan Agreement dated February 26, 2010, that certain Fourth Amendment to Loan Agreement and First Amendment to Revolving Credit Loan Note dated September 30, 2010, and that certain Amended and Restated Loan
Agreement effective as of November 3, 2011 (collectively, the “Loan Agreement”), are true and complete, except as set forth on Attachment 1 hereto. 

2. No Defaults. Except as set forth on Attachment 2, no Default or Event of Default (as defined in the Loan
Agreement) exists as of the date hereof. 
 3. Financial Covenants. Set forth below are calculations of
the financial covenants required pursuant to Section 7.33 and Section 7.34 of the Loan Agreement. Calculation of the financial covenants set forth as (a) and (b) below shall not be required until the respective time period in
Section 7.33(a) and 7.33(b). The financial covenant calculations set forth below have been prepared and calculated in accordance with the terms and provisions of the Loan Agreement and all calculations supporting the results below are set forth
on Attachment 3. Capitalized terms used and not defined in this Quarterly Compliance Certificate shall have the meanings given to them in the Loan Agreement. 
 PERIOD COVERED: Rolling Four-Quarter Period Ended                      

 

			
	 (a)    Minimum Fixed Charge Coverage Ratio
	  	
		
	 Net Income
	  	
		  	  

		
	 Plus: Interest Expense
	  	
		  	  

		
	 Plus: Taxes
	  	
		  	  

		
	 Plus: Depreciation Expense
	  	
		  	  

		
	 Plus: Amortization Expense
	  	
		  	  

  
 G-1

			
		
	 Equals: EBITDA*
	  	
		  	  

  

	*	 In determining EBITDA, Borrower shall exclude (i) any non-cash gain or loss on the sale of assets, (ii) any gains or losses with respect
to hedging or similar transactions, (iii) extraordinary gains or losses determined in accordance with GAAP, and (iv) any other extraordinary gains or losses as determined by Lender in its sole discretion 

 

			
	 Plus: Net Income Bonus to the extent accrued by Borrower and not paid
	  	
		  	  

		
	 Less: Taxes
	  	
		  	  

		
	 Less: Restricted Payments
	  	
		  	  

		
	 Less: Maintenance Capital Expenditures
	  	
		  	  

		
	 Plus or Less: Non-cash Items (to the extent not already factored in determining EBITDA)
	  	
		  	  

		
	 Equals: Cash Available for Debt Service Requirements
	  	
		  	  

		
	 Current Portion Long Term Debt - Prior Period
	  	
		  	  

		
	 Plus: Interest Expense
	  	
		  	  

		
	 Equals: Total Debt Service Requirements
	  	
		  	  

		
	 Fixed Charge Coverage Ratio
	  	
		  	  

		
	 Required Minimum Ratio**
	  	
		  	  

		
	 In Compliance? (Yes/No):
	  	
		  	  

		
	 ** Min. Required: 1.25 to 1.00
	  	
		  	  

		
	 (b)    Minimum Tangible Net Worth
	  	
		
	 Tangible Assets
	  	
		  	  

		
	 Less: Liabilities
	  	
		  	  

		
	 Equals: Tangible Net Worth
	  	
		  	  

		
	 Required Minimum Tangible Net Worth*
	  	
		  	  

		
	In Compliance? (Yes/No):	  	
		  	  

  

	*	 For December 31, 2011, the required Minimum Tangible Net Worth shall be $36,000,000. For each fiscal quarter after December 31, 2011, the
required Minimum Tangible Net Worth shall be increased from the previous fiscal quarter requirement by 50% of the Net Income for the fiscal 

  
 G-2

	 	 
quarter covered by this Quarterly Compliance Certificate, unless Net Income for such fiscal quarter is zero or negative, in which case the required Minimum Tangible Net Worth for the fiscal
quarter covered by this Quarterly Compliance Certificate shall remain the Minimum Tangible Net Worth required for the previous fiscal quarter. For all Quarterly Compliance Certificates delivered for fiscal quarters other than the December 31,
2011 fiscal quarter, please include the following calculation: 

  

			
	 Previous Fiscal Quarter’s Required Minimum Tangible Net Worth
	  	
		  	  

		
	 Plus: 50% of Net Income for Fiscal Quarter Covered by this Quarterly Compliance Certificate (insert zero if 50% of Net Income would be zero or a negative
number)
	  	
		  	  

		
	 Required Minimum Tangible Net Worth for Fiscal Quarter Covered by this Quarterly Compliance Certificate
	  	
		  	  

		
	 (c)    Maximum Capital Expenditures
	  	
		
	 Fiscal Year to date (Maximum: $300,000 per Fiscal Year)
	  	
		  	  

		
	 In Compliance? (Yes/No):
	  	

 4. Computation of Excess Cash Flow. Set forth below are
calculations of the Borrower’s Excess Cash Flow for the fiscal quarter covered by this Quarterly Compliance Certificate (which Excess Cash Flow calculation shall only be required for the fiscal quarters ending June 30th and December 31st). The calculation of Excess Cash Flow set forth below has been
prepared and calculated in accordance with the terms and provisions of the Loan Agreement and all calculations supporting the results below are set forth on Attachment 3. Capitalized terms used and not defined in this Quarterly Compliance
Certificate shall have the meanings given to them in the Loan Agreement. 
 Excess Cash Flow 

 

			
	 EBITDA
	  	
		  	  

		
	 Plus: Net Income Bonus to the extent accrued by Borrower and not paid
	  	
		  	  

		
	 Less: Principal Payments on the Construction/Term Loan
	  	
		  	  

		
	 Less: Payments under Capitalized Leases
	  	
		  	  

		
	 Less: Interest Expense
	  	
		  	  

		
	 Less: Taxes
	  	
		  	  

		
	 Less: Unfunded Maintenance Capital Expenditures
	  	
		  	  

		
	 Equals: Excess Cash Flow
	  	
		  	  

  
 G-3

 The foregoing Compliance Certificate is true, correct and complete.

  

			
	 REG DANVILLE, LLC,

	 a Delaware limited liability company

		
	 By:
	 	  

	 Name:
	 	  

	 Its:
	 	  

  
 G-4

 ATTACHMENT 1 TO QUARTERLY COMPLIANCE CERTIFICATE 

Exceptions to Representations and Warranties 

  
 Attachment 1

 ATTACHMENT 2 TO QUARTERLY COMPLIANCE CERTIFICATE 

Defaults and Events of Default 

  
 Attachment 2

 ATTACHMENT 3 TO QUARTERLY COMPLIANCE CERTIFICATE 

Supporting Calculations 

  
 Attachment 3

 SCHEDULE 1.1 
 [INTENTIONALLY DELETED] 

  
 Schedule 1.1

 SCHEDULE 4.10 
 REAL PROPERTY AND PERSONAL PROPERTY LEASES 
 A lease for
existing office space, currently on a month-to-month basis, for rent in the amount of $600 per month. 

  
 Schedule 4.10

 SCHEDULE 4.11 
 ENVIRONMENTAL REPORTS 
 1. Phase I Environmental Site Assessment dated
November 2007 by Burns & McDonnell Engineering Company, Inc. 

  
 Schedule 4.11

 SCHEDULE 4.20 
 INTELLECTUAL PROPERTY 
  

	1.	 Intellectual property rights and licenses granted to or acquired by the Borrower under contracts and leases assumed and/or assigned to the Borrower
in connection with the Asset Purchase Agreement. 

  

	2.	 Generally available commercial software licensed by or to the Borrower. 

 

	3.	 Tradenames, unregistered trademarks and trade secrets that may be owned by the Borrower associated with the business or proposed business of the
Borrower. 

  

	4.	 Rights and licenses acquired by the Borrower under contracts and leases assumed by the Borrower in connection with the Asset Purchase Agreement.

 SCHEDULE 7.46 
 AGREEMENTS WITH AFFILIATES 
  

	1.	 The Management and Operational Services Agreement 

  

	2.	 The Tolling Agreement 

  
 Schedule 7.46

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