Document:

EX-10.4

COFINA FUNDING, LLC,

as Issuer

and

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

SERIES 2010-A SUPPLEMENT

Dated as of December 23, 2010

to

AMENDED AND RESTATED BASE INDENTURE

Dated as of December 23, 2010

COFINA FUNDING, LLC

SERIES 2010-A

Cofina Variable Funding Asset-Backed Notes

SERIES 2010-A SUPPLEMENT, dated as of December 23, 2010 (as amended, modified, restated
or supplemented from time to time in accordance with the terms hereof, this “Series
Supplement”), by and among COFINA FUNDING, LLC, a Delaware limited liability company, as issuer
(“Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee
(together with its successors in trust under the Amended and Restated Base Indenture referred to
below, the “Trustee”), to the Base Indenture, dated as of December 23, 2010, between the
Issuer and the Trustee (as amended, modified, restated or supplemented from time to time, exclusive
of Series Supplements, the “Base Indenture”).

Pursuant to this Series Supplement, the Issuer shall create a new Series of Notes and shall
specify the Principal Terms thereof.

PRELIMINARY STATEMENT

WHEREAS, Section 2.2 of the Base Indenture provides, among other things, that the Issuer and
the Trustee may at any time and from time to time enter into a series supplement to the Base
Indenture for the purpose of authorizing the issuance of one or more Series of Notes.

	 	 	 
	NOW, THEREFORE, the parties hereto agree as follows:

	SECTION 1.

	 	Designation.
	
 
	 	 

(a) There is hereby created a Series of notes to be issued in one class pursuant to the Base
Indenture and this Series Supplement, and such Series of notes shall be substantially in the form
of Exhibit A hereto, executed by or on behalf of the Issuer and authenticated by the
Trustee and designated generally Cofina Variable Funding Asset-Backed Notes, Series 2010-A (the
“Notes”). The Notes shall constitute “Warehouse Notes” (as defined in the Base Indenture).

(b) Series 2010-A (as defined below) shall not be subordinated to any other Series.

SECTION 2. Definitions. In the event that any term or provision contained herein
shall conflict with or be inconsistent with any provision contained in the Base Indenture, the
terms and provisions of this Series Supplement shall govern. All Article, Section or
subsection references herein mean Articles, Sections or subsections of this Series Supplement,
except as otherwise provided herein. All capitalized terms not otherwise defined herein are
defined in the Base Indenture. Each capitalized term defined herein shall relate only to the Notes
and no other Series of Notes issued by the Issuer.

“Accrual Period” means, with respect to each Settlement Date, (i) with respect to that
portion of the Notes accruing interest at the Blended Rate (as defined in the Note Purchase
Agreement), the period beginning on and including the first day of the preceding calendar month and
ending on and including the last day of the preceding calendar month, except that the initial
Accrual Period shall begin on and include the Closing Date and the final Accrual Period shall end
on but include the Series 2010-A Termination Date and (ii) in all other cases, the period beginning
on and including the Settlement Date in the preceding calendar month and ending on but excluding
the Settlement Date for the current calendar month, except that the initial Accrual Period shall
begin on and include the Closing Date and the final Accrual Period shall end on but include the
Series 2010-A Termination Date.

“Additional Interest” has the meaning specified in Section 5.12 of the Base Indenture
(as provided by Section 8 hereof).

“Breakage Amount” has the meaning specified in the Note Purchase Agreement.

“Closing Date” means December 23, 2010.

“Commitment Termination Date” means the Purchase Expiration Date.

“Fee Amount” has the meaning specified in Section 5.12 of the Base Indenture (as
provided by Section 8 hereof).

“Fees” means all of the amounts payable in connection with the Fee Letter (as such
term is defined in the Note Purchase Agreement).

“Funding Agent” has the meaning set forth in the Note Purchase Agreement.

“Increase” has the meaning specified in Section 3.1(a) of the Base Indenture (as
provided by Section 3 hereof).

“Indemnified Party” shall have the meaning specified in the Note Purchase Agreement.

“Initial Note Principal” means the aggregate initial principal amount of the Notes,
which is $50,000,000.

“Issuer” means Cofina Funding, LLC, a Delaware limited liability company.

“Legal Final Settlement Date” means the Settlement Date falling in the 138th complete
month following the Rapid Amortization Commencement Date.

“Maximum Principal Amount” means the Maximum Funded Amount (as defined in the Note
Purchase Agreement).

“Monthly Interest” has the meaning specified in Section 5.12 of the Base Indenture (as
provided by Section 8 hereof).

“Monthly Period” has the meaning specified in the Base Indenture, except that the
first Monthly Period with respect to the Notes shall begin on and include the Closing Date and
shall end on and include the last day of the month in which the Closing Date occurs.

“Note Principal” means the outstanding principal amount of the Notes.

“Note Purchase Agreement” means the Note Purchase Agreement, dated as of December 23,
2010, among the Issuer, Nieuw Amsterdam Receivables Corporation, as Conduit Purchaser, Cooperatieve
Centrale Raiffeisen-Boerenleenbank, B.A. “Rabobank Nederland”, New York Branch, as Funding Agent
(as defined in the Note Purchase Agreement), and the Committed Purchasers parties thereto, or any
successor agreement to such effect among the Issuer and the applicable Noteholders or their
respective permitted successors and assigns, as amended, supplemented or otherwise modified from
time to time in accordance with the terms of the Transaction Documents.

“Note Rate” means, with respect to each Settlement Period or Accrual Period, a
variable rate per annum equal to the rate determined therefor by the Funding Agent (based on any
and all amounts which constitute Series 2010-A Financing Costs (as defined in the Note Purchase
Agreement) with respect to such Settlement Period or Accrual Period pursuant to the Note Purchase
Agreement).

“Noteholder” means with respect to any Note, the holder of record of such Note.

“Notes” has the meaning specified in Section 1(a).

“Notice Persons” means, for Series 2010-A, the Funding Agent.

“Permitted Settlement Date Withdrawal” means, with respect to the Notes for any
Settlement Date, the amount set forth in Section 5.13 of the Base Indenture (as provided by
Section 8 hereof).

“Purchase Expiration Date” has the meaning specified in the Note Purchase Agreement.

“QIB” has the meaning specified in Section 7(c)(i).

“Rapid Amortization Period” means the period commencing on the Rapid Amortization
Commencement Date and ending on the Series 2010-A Termination Date.

“Rapid Amortization Commencement Date” means the earliest of (i) the Commitment
Termination Date, (ii) the date on which an Early Amortization Event occurs pursuant to
Section 10.1 of the Base Indenture or (iii) the date on which a Series Early Amortization Event
occurs pursuant to Section 10 of this Series Supplement.

“Redemption Date” means the date on which the Notes are redeemed in full pursuant to
Section 5 or 12 hereof.

“Required Person” means the “Funding Agent” under the Note Purchase Agreement.

“Revolving Period” means the period from and including the Closing Date to, but not
including, the Rapid Amortization Commencement Date.

“Rule 144A” has the meaning specified in subsection 7(c)(i).

“Scheduled Principal Payment Amount” means (i) with respect to any Settlement Date
prior to the Commitment Termination Date, zero (0); and (ii) with respect to any Settlement Date on
or following the Commitment Termination Date, the excess, if any, of (x) the then Note Principal
over (y) the Scheduled Targeted Principal Balance for the Notes for such Settlement Date.

“Scheduled Targeted Principal Balance” means, for any Settlement Date on or after the
Commitment Termination Date, an amount equal to the product of (x) the Note Principal on the
Commitment Termination Date and (y) the percentage set forth opposite such Settlement Date (based
on the number of months elapsed from the Commitment Termination Date) on Schedule I hereto
under the column entitled “Scheduled Targeted Principal Balance.”

“Series Early Amortization Event” means each “Early Amortization Event” referred to in
Section 10.

“Series 2010-A” means the Series of the Cofina Variable Funding Asset-Backed Notes
represented by the Notes.

“Series 2010-A Interest Payment” means, with respect to any Settlement Date, the
Monthly Interest for such Settlement Date.

“Series 2010-A Noteholder” means the Holder of a Note.

“Series 2010-A Settlement Account” means the Settlement Account established as such
for the benefit of the Secured Parties of this Series 2010-A pursuant to Section 5.3 of the Base
Indenture and Section 5.11 of the Base Indenture (as provided by Section 8 hereof).

“Series 2010-A Termination Date” means the Settlement Date on which the Notes, plus
all other amounts due and owing to the Series 2010-A Noteholders and the Indemnified Parties are
paid in full.

“Supplemental Principal Payment Amount” means the amount of any prepayment made in
accordance with the provisions of Section 5.10 of the Base Indenture that is allocated to the
Series 2010-A Notes in accordance with such provision of the Base Indenture.

SECTION 3. Article 3 of the Base Indenture. Article 3 shall be read in its
entirety as follows and shall be applicable only to the Notes:

ARTICLE 3

INITIAL ISSUANCE AND INCREASES AND DECREASES OF

 NOTE PRINCIPAL

SECTION 3.1 Initial Issuance: Procedure for Increasing the Investor Interest.

(a) Subject to satisfaction of the conditions precedent set forth in Section 3.1(b),
(i) on the Closing Date, the Issuer will issue the Notes in accordance with Section 2.2 of the Base
Indenture in the aggregate initial outstanding principal amount equal to the Initial Note Principal
and an aggregate face amount equal to the Maximum Principal Amount and (ii) on any Business Day
during the Revolving Period, but no more frequently than once per week, the Issuer may increase the
Note Principal (each such increase referred to as an “Increase”) upon satisfaction of the
conditions set forth below and the conditions specified in the Note Purchase Agreement.

(b) The Notes will be issued on the Closing Date and the Note Principal may be increased on
any Business Day during the Revolving Period pursuant to subsection (a) above, only upon
satisfaction of each of the following conditions with respect to such initial issuance and each
proposed Increase:

	 	(i)	 	The amount of each issuance or Increase shall be equal to or
greater than $250,000 (and in integral multiples of $1,000 in excess thereof);

	 	(ii)	 	After giving effect to such issuance or Increase, the Note
Principal shall not exceed the Maximum Principal Amount;

	 	(iii)	 	After giving effect to such issuance or Increase, no Borrowing
Base Deficiency shall exist;

	 	(v)	 	There shall not exist, and such issuance or Increase and the
application of the proceeds thereof shall not result in the occurrence of, (1)
an Early Amortization Event for any Series, a Servicer Default or an Event of
Default, or (2) an event or occurrence, which, with the passing of time or the
giving of notice thereof, or both, would become an Early Amortization Event for
any Series, Servicer Default or an Event of Default;

	 	(vi)	 	After giving effect to such issuance or Increase, not less than
85% of the Eligible Receivables are Eligible Receivables issued by Obligors
which are classified as Other Assets Especially Mentioned or Acceptable;

	 	(vii)	 	After giving effect to such issuance or Increase, not more
than 5% of the Receivables by Receivables Balance have Obligors which are
classified as Doubtful or Loss;

	 	(viii)	 	All required consents have been obtained and all other conditions precedent
to the making of advances under the Note Purchase Agreement shall have been
satisfied; and

	 	(ix)	 	There shall not have occurred, since the Closing Date, in the
reasonable judgment of the Notice Person, (A) a material adverse change in the
operations, management or financial condition of any Seller or (B) any event
which materially and adversely affects the collectibility of the Eligible
Receivables generally or the ability of any Seller to perform its obligations
under the Transaction Documents.

(c) Upon receipt of the proceeds of such issuance or Increase by or on behalf of the Issuer,
the Issuer shall give notice to the Trustee of such receipt, and the Trustee shall, or shall cause
the Transfer Agent and Registrar to, indicate in the Note Register the amount thereof.

SECTION 3.2 Prepayments. On any Business Day (including any Settlement Date), the
Issuer will have the option (upon at least 2 Business Days’ notice to the Funding Agent) to
prepay, without premium, all or a portion of, the Note Principal of the Notes, in a minimum amount
of $250,000 (and integral multiples of $1,000 in excess thereof). Any accrued interest on the
principal balance being prepaid and any related Breakage Amount shall be paid on the immediately
following Settlement Date. The Issuer may make such prepayment only from funds available to the
Issuer therefor pursuant to Section 5.4 of the Base Indenture. Any prepayment amounts shall be
deposited into the Series 2010-A Settlement Account and distributed by the Trustee on a pro rata
basis to each Noteholder of record at such time. Any such prepayment shall not constitute a
termination of the Revolving Period. Any prepayment by the Issuer with respect to a Series other
than Series 2010-A (other than a prepayment made to effectuate an Unexpired Series True-Up (as
defined in the Note Purchase Agreement)) shall be accompanied by a concurrent prepayment under
Series 2010-A in the amount necessary to cause the aggregate of such prepayments to be ratably
allocated among each Series (such that each Series is utilized in the same proportion of its
“Maximum Funded Amount” (or, following the end of the applicable revolving periods, such that each
Series receives the same proportion of its outstanding note principal amount).

SECTION 4. Principal Payments on the Notes. The principal balance of the Series
2010-A Notes shall be payable on each Settlement Date from amounts on deposit in the Series 2010-A
Settlement Account in an amount equal to (i) so long as no Early Amortization Event or Event of
Default has occurred (and has not been waived in accordance with the terms of the Base Indenture),
the sum of the Scheduled Principal Payment Amount and Supplemental Principal Payment Amount for
such Settlement Date, or (ii) if an Early Amortization Event or an Event of Default has occurred
(and has not been waived in accordance with the terms of the Base Indenture), the full Note
Principal to the extent that funds are available for such purposes in accordance with the
provisions of Section 5.4 of the Base Indenture. The unpaid principal amount of each Note,
together with all unpaid interest, fees, expenses, costs and other amounts payable by the Issuer to
the Holders of the Notes pursuant to the terms of the Base Indenture, this Series Supplement, the
Note Purchase Agreement and the other Transaction Documents shall be due and payable in full on the
earlier to occur of (x) the date on which an Event of Default shall occur and the Series 2010-A
Notes have been accelerated in accordance with the provisions of the Base Indenture and (y) the
Legal Final Settlement Date.

SECTION 5. Cleanup Call.

(a) The Notes shall be subject to purchase by the initial Servicer at its option, in
accordance with the terms specified in Section 13.4(a) of the Base Indenture on any Settlement Date
on or after the Settlement Date on which the Note Principal is reduced to an amount less than or
equal to 10% of the Maximum Principal Amount. Any exercise by the initial Servicer of a purchase
option with respect to any Series other than Series 2010-A shall be accompanied by a concurrent
purchase of Series 2010-A hereunder unless otherwise consented to in writing by the Funding Agent.

(b) The deposit to the Series 2010-A Settlement Account required in connection with any such
purchase will be equal to the sum of (a) the Note Principal, plus (b) accrued and unpaid interest
on the Notes through the day preceding the Settlement Date on which the purchase occurs, plus (c)
any other amounts (including, without limitation, accrued and unpaid Fees) payable to the Series
2010-A Noteholders, the Indemnified Parties, the Trustee and the Custodian pursuant to the Note
Purchase Agreement and the other Transaction Documents, minus (d) the amounts, if any, on deposit
at such Settlement Date in the Series 2010-A Settlement Account for the payment of the foregoing
amounts.

SECTION 6. Delivery and Payment for the Notes. The Trustee shall execute,
authenticate and deliver the Notes in accordance with Section 2.4 of the Base Indenture and
Section 7 below.

SECTION 7. Form of Delivery of the Notes; Denominations; Transfer Restrictions.

(a) The Notes shall be delivered as Registered Notes in definitive form as provided in
Sections 2.1 and 2.18 of the Base Indenture. The Notes shall initially be registered in the name
of the Funding Agent for the benefit of the Purchasers (as defined in the Note Purchase Agreement)
and shall not be transferred, sold or pledged, in whole or in part, other than pursuant to Section
2.6 of the Base Indenture and this Section 7.

(b) The Notes will be issuable in minimum face amount denominations of $250,000 (and in
integral multiples of $1,000 in excess thereof).

(c) The Notes have not been registered under the Securities Act or any state securities or
“blue sky” laws. None of the Issuer, the Transfer Agent and Registrar or the Trustee is obligated
to register the Notes under the Securities Act or any “blue sky” laws or take any other action not
otherwise required under the Base Indenture or this Series Supplement to permit the transfer of any
Note without such registration. When Notes are presented to the Transfer Agent and Registrar or a
co-registrar with a request to register a transfer or to exchange them for an equal principal
amount of Notes of other authorized denominations, the Transfer Agent and Registrar shall register
the transfer or make the exchange; provided, however, that the Notes surrendered
for transfer or exchange (a) shall be duly endorsed or accompanied by a written instrument of
transfer in form satisfactory to the Issuer and the Transfer Agent and Registrar, duly executed by
the holder thereof or its attorney, duly authorized in writing and (b) shall be transferred or
exchanged in compliance with the Securities Act and the following provisions:

(i) (A) if such Note is being transferred to a qualified institutional buyer (a
“QIB”) as defined in, and in accordance with, Rule 144A under the Securities Act
(“Rule 144A”), the transferor shall provide the Issuer and the Transfer Agent and
Registrar with a certification to that effect (in substantially the form of Exhibit
C hereto); or (B) if such Note is being transferred in reliance on another exemption
from the registration requirements of the Securities Act, the transferor shall provide the
Issuer and the Transfer Agent and Registrar with a certification to that effect (in
substantially the form of Exhibit C hereto) and, if requested by the Transfer Agent
and Registrar or the Issuer, an opinion of counsel in form and substance acceptable to the
Issuer and to the Transfer Agent and Registrar to the effect that such transfer is in
compliance with the Securities Act.

(ii) each such transferee of such Note shall be deemed to have made the
acknowledgements, representations and agreements set forth below:

(1) if such Note is being transferred in accordance with Rule 144A, it is a QIB, is
aware that the sale to it is being made in reliance on Rule 144A, is acquiring such Note or
any interest or participation therein for its own account or for the account of another QIB
over which it exercises sole investment discretion, is aware the sale is being made in
reliance on Rule 144A and is acquiring such Note or any interest or participation therein
for its own account or the account of another QIB;

(2) it understands that the Notes have not been and will not be registered or qualified
under the Securities Act or any applicable state securities laws or the securities laws of
any other jurisdiction and are being offered only in a transaction not involving any public
offering within the meaning of the Securities Act, neither the Transfer Agent and Registrar
nor the Issuer nor any person representing the Issuer has made any representation or
warranty to it with respect to the Issuer or the offering or sale of any Note, it has had
access to such financial and other information concerning the Issuer, the Sellers and the
Notes as it has deemed necessary to evaluate whether to purchase any Notes, the Issuer is
not required to register or qualify the Notes, and that the Notes may be resold, pledged or
transferred only in compliance with provisions of this Section 7(c) and only (A) to
the Issuer, (B)  to a person the transferor reasonably believes is a QIB in a transaction
meeting the requirements of Rule 144A or (C) in a transaction otherwise exempt from the
registration requirements of the Securities Act and, in each case, in accordance with any
applicable securities laws of any state of the United States or any other jurisdiction and
in accordance with the restrictions set forth herein;

(3) if it desires to offer, sell or otherwise transfer, pledge or hypothecate the Notes
as described in clause (B) or (C) of the preceding clause (2), it
may, pursuant to clause (i) above, be required to deliver a certificate and, in the
case of clause (C), may be required to deliver an opinion of counsel if the Issuer
and the Transfer Agent and Registrar so request, in each case, reasonably satisfactory in
form and substance to the Issuer and the Transfer Agent and Registrar, that an exemption
from the registration requirements of the Securities Act applies to such offer, sale,
transfer or hypothecation; and it understands that the Registrar and Transfer Agent will not
be required to accept for registration of transfer the Notes acquired by it, except upon
presentation of, if applicable, the certificate and, if applicable, the opinion described
above;

(4) it agrees that it will, and each subsequent holder is required to, notify any
purchaser of Notes from it of the resale restrictions referred to in clauses (2) and
(3) above, if then applicable, and understands that such notification requirement
will be satisfied, in the case only of transfers by physical delivery of Definitive Notes,
by virtue of the fact that the following legend will be placed on the Notes unless otherwise
agreed to by the Issuer:

THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE
SECURITIES LAWS OF ANY OTHER JURISDICTION. THIS NOTE MAY BE RESOLD,
PLEDGED OR TRANSFERRED ONLY (1) TO THE ISSUER, (2) TO A PERSON THE
TRANSFEROR REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER
(AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”))
THAT PURCHASES FOR ITS OWN ACCOUNT (AND NOT FOR THE ACCOUNT OF
OTHERS) OR AS A FIDUCIARY OR AGENT FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF
RULE 144A OR (3) IN A TRANSACTION OTHERWISE EXEMPT FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE
SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER
JURISDICTION AND BASED ON AN OPINION OF COUNSEL IF THE ISSUER OR
TRANSFER AGENT AND REGISTRAR SO REQUEST, IN EACH SUCH CASE, IN
COMPLIANCE WITH THE INDENTURE AND ALL APPLICABLE SECURITIES LAWS OF
ANY STATE OF THE UNITED STATES AND ANY OTHER JURISDICTION. THE
HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY
TRANSFEREE FROM IT OF THE RESALE RESTRICTIONS SET FORTH ABOVE.

(5) it acknowledges that the foregoing restrictions apply to holders of beneficial
interests in the Notes as well as to Holders of the Notes;

(6) it acknowledges that the Trustee, the Issuer and their Affiliates and others will
rely upon the truth and accuracy of the foregoing acknowledgments, representations and
agreements and agrees that if any of the acknowledgments, representations or agreements
deemed to have been made by its purchase of such Notes is no longer accurate, it will
promptly notify the Issuer; and if it is acquiring any Notes for the account of one or more
QIBs, it represents that it has sole investment discretion with respect to each such account
and that it has full power to make the foregoing acknowledgments, representations and
agreements on behalf of each such account;

(7) with respect to any foreign purchaser claiming an exemption from United States
income or withholding tax, it represents that it has delivered to the Trustee a true and
complete Form W-8BEN or W-8ECI or applicable successor form, indicating such exemption; and

(8) it acknowledges that either (i) it is not an employee benefit plan subject to
ERISA, a “plan” described in Section 4975 of the Code, an entity deemed to hold the assets
of any such plan or a governmental plan (as defined in Section 3(32) of ERISA) or a church
plan (as defined in Section 3(33) of ERISA for which no election has been made under Section
410(d) of the Code) subject to applicable law that is substantially similar to Section 406
of ERISA or Section 4975 of the Code or (ii) its purchase and holding of the Notes will not,
throughout the term of holding, constitute a non-exempt prohibited transaction under Section
406 of ERISA or Section 4975 of the Code (or, in the case of a governmental plan or a
non-electing church plan (as described above), any substantially similar applicable law) by
reason of the application of one or more statutory or administrative exemptions from such
prohibited transaction rules or otherwise.

In addition, such transferee shall be responsible for providing additional information
or certification, as shall be reasonably requested by the Trustee or Issuer, to support the
truth and accuracy of the foregoing acknowledgements, representations and agreements, it
being understood that such additional information is not intended to create additional
restrictions on the transfer of the Notes. Any resale, pledge or other transfer of Notes in
violation of the transfer restrictions set forth herein shall be deemed void ab initio.

SECTION 8. Article 5 of Base Indenture. Sections 5.1, 5.2, 5.3, 5.4, 5.5, 5.6, 5.7,
5.8, 5.9 and 5.10 of the Base Indenture shall be read in their entirety as provided in the Base
Indenture. The following provisions, however, shall constitute part of Article 5 of the Base
Indenture solely for purposes of Series 2010-A and shall be applicable only to the Notes:

ARTICLE 5

SERIES 2010-A SETTLEMENT ACCOUNT AND

ALLOCATION AND APPLICATION OF AMOUNTS THEREIN

SECTION 5.11 Series 2010-A Settlement Account. The Trustee, in accordance with
Section 5.3(d) of the Base Indenture shall establish on the Closing Date and maintain, so long as
any Series 2010-A Note is Outstanding, an account designated as the “Series 2010-A Settlement
Account”, which account shall be held by the Trustee for the benefit of the Holders of the Series
2010-A Notes pursuant to the Base Indenture and this Series Supplement. All deposits of funds by
or for the benefit of the Holders of the Series 2010-A Notes shall be accumulated in, and withdrawn
from, the Series 2010-A Settlement Account in accordance with the provisions of the Base Indenture
and this Series Supplement.

SECTION 5.12 Determination of Monthly Interest. The amount of monthly interest
payable on the Notes shall be determined by the Servicer as of each Determination Date and shall be
an amount equal to the sum of (x) the product of (i)(A) a fraction, the numerator of which is the
actual number of days in the related Accrual Period and the denominator of which is 360,
times (B) the Note Rate in effect with respect to the related Accrual Period, and (ii) the
average daily outstanding principal balance of the Notes during such Accrual Period and (y) any
Monthly Interest not paid in full on the preceding Settlement Date plus interest thereon at the
applicable Note Rate (the “Monthly Interest”); provided, however, that in
addition to Monthly Interest, an amount equal to the sum of (i) the amount of any unpaid Fees for
the related Accrual Period as determined pursuant to the Note Purchase Agreement (the “Fee
Amount”), plus (ii) any Additional Amounts for the related Accrual Period as determined
pursuant to the Note Purchase Agreement, plus (iii) following the occurrence of a Servicer Default,
Early Amortization Event or Event of Default, an amount equal to the product of the Note Principal,
a fraction, the numerator of which is the actual number of days in the related Accrual Period and
the denominator of which is 365 or 366, as applicable, and a rate equal to the difference between a
rate equal to 2% per annum over the Base Rate (as defined in the Note Purchase Agreement) in effect
for such period and the Note Rate in effect for such period (such sum being herein called the
“Additional Interest”) shall also be payable by the Issuer.

SECTION 5.13 Drawing Funds from the Spread Maintenance Account. In the event that the
Monthly Servicer Report with respect to any Determination Date shall state that the funds on
deposit in the Series 2010-A Settlement Account with respect to such Determination Date will not be
sufficient to make (on the related Settlement Date) payment on such Settlement Date of the Monthly
Interest then due or to make (on the Legal Final Settlement Date) payment on such Settlement Date
of the full outstanding principal balance of the Notes (the amount of such aggregate deficiency
being a “Permitted Settlement Date Withdrawal”), then the Trustee shall draw on the Spread
Maintenance Account and deposit into the Series 2010-A Settlement Account an amount equal to the
lesser of (x) the Permitted Settlement Date Withdrawal and (y) the amount then on deposit in the
Spread Maintenance Account; provided that any withdrawal for purposes of paying principal
shall be in an amount equal to the lesser of (x) the then outstanding Note Principal and all
accrued and unpaid Monthly Interest with respect thereto and (y) the Series 2010-A pro rata share
of the amount then on deposit in the Spread Maintenance Account (calculated based on the
outstanding Note Balance as a percentage of the outstanding principal balance of the Notes of all
Series). Any such funds actually received by the Trustee shall be used solely to make payments of
the Monthly Interest or the Note Principal, as the case may be.

SECTION 5.14 Distribution from Series 2010-A Settlement Account. On each Settlement
Date, the Trustee shall distribute funds then on deposit in the Series 2010-A Settlement Account in
accordance with the provisions of either subsection (I) or (II) of this Section 5.14.

(I) If neither an Early Amortization Event nor an Event of Default shall have occurred and be
continuing with respect to any Series:

(1) To each Series 2010-A Noteholder (as of the related Record Date), an amount equal
to its pro rata portion of the Series 2010-A Interest Payment for such Settlement Date;

(2) To each Series 2010-A Noteholder (as of the related Record Date), an amount equal
to its pro rata portion of the Scheduled Principal Payment Amount then due and payable to
Series 2010-A Noteholders on such Settlement Date;

(3) To each Series 2010-A Noteholder (as of the related Record Date), an amount equal
to its pro rata portion (if any) of the Supplemental Principal Payment Amount then due and
payable to Series 2010-A Noteholders on such Settlement Date;

(4) To the Funding Agent, any Additional Interest and Fee Amounts then due for such
Settlement Date; and

(5) To each 2010-A Noteholder (as of the related Record Date) and each other
Indemnified Party, pro rata, an amount equal to taxes, increased costs, Breakage Amounts,
indemnities and other amounts then due and payable to Series 2010-A Noteholders and each
Indemnified Party pursuant to the Note Purchase Agreement.

(II) If an Early Amortization Event shall have occurred and be continuing with respect to any
Series or an Event of Default shall have occurred and be continuing with respect to any Series:

(1) To each Series 2010-A Noteholder (as of the related Record Date), an amount equal
to its pro rata portion of the Series 2010-A Interest Payment for such Settlement Date;

(2) To each Series 2010-A Noteholder (as of the related Record Date), an amount equal
to its pro rata portion of the then outstanding Note Principal until the Note Principal has
been reduced to zero;

(3) To the Funding Agent, any Additional Interest and Fee Amounts then due for such
Settlement Date; and

(4) To each Series 2010-A Noteholder (as of the related Record Date) and each other
Indemnified Party, pro rata, an amount equal to taxes, increased costs, Breakage Amounts,
indemnities and other amounts then due and payable to Series 2010-A Noteholders and each
other Indemnified Party pursuant to the Note Purchase Agreement.

SECTION 5.15 Servicer’s Failure to Make a Deposit or Payment. If the Servicer fails
to make, or give instructions to make, any payment, deposit or withdrawal required to be made or
given by the Servicer at the time specified in the Base Indenture or this Series Supplement
(including applicable grace periods), the Trustee shall make such payment, deposit or withdrawal
from the applicable account in accordance with the written instructions provided by the Required
Person with respect to Series 2010-A (if related solely to the Series 2010-A Settlement Account or
the Required Persons with respect to all Series, if related to any other account).

SECTION 9. Article 6 of the Base Indenture. Article 6 of the Base Indenture shall
read in its entirety as follows and shall be applicable only to the Noteholders:

ARTICLE 6

DISTRIBUTIONS AND REPORTS

SECTION 6.1 Distributions.

On each Settlement Date, the Trustee shall distribute (in accordance with the Monthly Servicer
Report delivered by the Servicer on or before the related Series Transfer Date pursuant to
Section 2.09(a) of the Servicing Agreement) to each Noteholder of record on the immediately
preceding Record Date (other than as provided in Section 12.5 of the Base Indenture respecting a
final distribution), by 12:00 noon Eastern Standard Time, such Noteholder’s pro
rata share of the amounts on deposit in the Series 2010-A Settlement Account that are
payable to the Noteholders pursuant to Section 5.14 by wire transfer to an account
designated by such Noteholder at least five Business Days prior to such Settlement Date.

SECTION 6.2 Monthly Noteholders’ Statement.

(a) On or before each Settlement Date, the Trustee shall make available to each Noteholder and
each Notice Person via the Trustee’s website a statement substantially in the form of Exhibit
B hereto prepared by the Servicer and delivered to the Trustee on the preceding Determination
Date and setting forth, among other things, the following information:

(i) the total amount distributed to Noteholders;

(ii) the amount of such distribution allocable to principal;

(iii) the amount of such distribution allocable to Trustee Fees and Expenses,
Custodian fees and expenses, Monthly Interest, Additional Interest and the Fee
Amounts, respectively;

(iv) the aggregate Outstanding Balance of Receivables which were Delinquent
Receivables as of the end of the preceding Monthly Period;

(v) the aggregate Outstanding Balance of Receivables which were Defaulted
Receivables as of the end of the preceding Monthly Period;

(vi) the Required Spread Maintenance Reserve Amount and the balance on deposit
in the Spread Maintenance Account as of the end of the day on the Settlement Date;

(vii) the outstanding Note Balance, as of the end of the day on the Settlement
Date;

(viii) increases and decreases in the Notes during the related Settlement
Period, and the average daily balance of the Notes for the related Settlement
Period;

(ix) the amount of the Servicing Fee for the related Settlement Period;

(x) the Note Rate for the related Settlement Period; and

(xi) if applicable, the date on which the Rapid Amortization Period commenced.

(b) Annual Noteholders’ Tax Statement. On or before January 31 of each calendar year,
beginning with the calendar year 2012, the Paying Agent shall distribute to each Person who at any
time during the preceding calendar year was a Noteholder, a statement prepared by the Servicer in
accordance with Section 6.02 of the Servicing Agreement containing the information required to be
contained in the regular monthly report to Series 2010-A Noteholders, as set forth in
subclauses (i), (ii) and (iii) above, aggregated for such calendar year or
the applicable portion thereof during which such Person was a Series 2010-A Noteholder, together
with such other customary information (consistent with the treatment of the Notes as debt) as is
customary on similar transactions to enable the Series 2010-A Noteholders to prepare their tax
returns. Such obligations of the Paying Agent shall be deemed to have been satisfied to the extent
that substantially comparable information shall be provided by the Paying Agent or another party
pursuant to any requirements of the Code as from time to time in effect.

SECTION 10. Series Early Amortization Events. The Rapid Amortization Commencement
Date shall occur without any notice or other action on the part of any party hereto if an “Early
Amortization Event” under the Base Indenture occurs.

	 	 	 
	SECTION 11.

SECTION 12.

	 	[Reserved].

Redemption Provision.
	
 
	 	 

(a) The Issuer may redeem the Notes in full on the Commitment Termination Date through a
refinancing. If the Issuer refinances any other Series on its commitment termination date, the
Issuer covenants and agrees to refinance the Notes in full concurrently (unless otherwise agreed to
in writing by the Funding Agent). The Issuer shall give notice of its election to pay such Notes
in accordance with the terms of the Base Indenture and the Note Purchase Agreement prior to such
redemption.

(b) The amount required to be deposited into the Series 2010-A Settlement Account in
connection with any redemption in full shall be equal to the sum of (i) the Note Principal, plus
(ii) accrued and unpaid the interest on the Notes through the Settlement Date on which the
redemption occurs, plus (iii) any other amounts (including, without limitation, accrued and unpaid
Fees) payable by the Issuer to the Series 2010-A Noteholders, the Indemnified Parties, the Trustee
and the Custodian pursuant to the Note Purchase Agreement and the other Transaction Documents, less
(iv) the amounts, if any, on deposit at such Settlement Date in the Series 2010-A Settlement
Account for the payment of the foregoing amounts. Such deposit shall be made not later than 3:00
p.m. New York City time on the Redemption Date.

SECTION 13. Amendments and Waiver. Any amendment, waiver or other modification to the
Base Indenture shall be subject to the restrictions thereon, if applicable, in the Note Purchase
Agreement. Any amendment, waiver or other modification to this Series Supplement shall be subject
to the consent of the Required Persons as defined herein.

SECTION 14. Counterparts. This Series Supplement may be executed in any number of
counterparts, and by different parties in separate counterparts, each of which so executed shall be
deemed to be an original, but all of such counterparts shall together constitute but one and the
same instrument.

SECTION 15. Governing Law. THIS SERIES SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. EACH OF THE PARTIES TO THIS SERIES
SUPPLEMENT AND EACH NOTEHOLDER HEREBY AGREES TO THE NON-EXCLUSIVE JURISDICTION OF THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND ANY APPELLATE COURT HAVING JURISDICTION TO
REVIEW THE JUDGMENTS THEREOF. EACH OF THE PARTIES HERETO AND EACH NOTEHOLDER HEREBY WAIVES ANY
OBJECTION BASED ON FORUM NON CONVENIENS AND ANY OBJECTION TO VENUE OF ANY ACTION INSTITUTED
HEREUNDER IN ANY OF THE AFOREMENTIONED COURTS AND CONSENTS TO THE GRANTING OF SUCH LEGAL OR
EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT.

SECTION 16. Waiver of Trial by Jury. To the extent permitted by applicable law, each
of the parties hereto and each of the Noteholders irrevocably waives all right of trial by jury in
any action, proceeding or counterclaim arising out of or in connection with this Series Supplement
or the Transaction Documents or any matter arising hereunder or thereunder.

SECTION 17. No Petition. The Trustee, by entering into this Series Supplement,and
each Series 2010-A Noteholder, by accepting a Note, hereby covenant and agree that they will not
prior to the date which is one year and one day after payment in full of the last maturing note of
any Series and termination of the Base Indenture institute against the Issuer, or join in any
institution against the Issuer of, any bankruptcy proceedings under any United States Federal or
state bankruptcy or similar law in connection with any obligations relating to the Notes, the Base
Indenture, this Series Supplement or the Transaction Documents. No obligation of the Issuer
hereunder shall constitute a “claim” (as defined in Section 101(5) of the Bankruptcy Code) against
the Issuer in the event that such obligations are not paid in accordance with the priority of
payments set forth in Section 5.4(c) of the Base Indenture.

SECTION 18. Rights of the Trustee. The rights, privileges and immunities afforded to
the Trustee under the Base Indenture shall apply hereunder as if fully set forth herein.

SECTION 19. Third-Party Beneficiaries. This Series Supplement will inure to the
benefit of and be binding upon the parties hereto, the Custodian, the Secured Parties and their
respective successors and permitted assigns. No other Person will have any right or obligations
hereunder.

SECTION 20. Tax Opinion. The parties agree that the Tax Opinion contemplated by
Section 2.2(a)(v) of the Base Indenture shall not be required in connection with the issuance of
the Series 2010-A Note hereunder.

IN WITNESS WHEREOF, the parties hereto have caused this Series Supplement to be duly
executed by their respective officers as of the day and year first above written.

COFINA FUNDING, LLC,

as Issuer

By:       /s/ Jamey Grafing—

Name: Jamey Grafing

Title: Chief Financial Officer

[Signatures continue on the following page.]

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

By:       /s/ Michelle Moeller—

Name: Michelle Moeller

Title: Vice PresidentEXHIBIT A

FORM OF

SERIES 2010-A NOTE

THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY OTHER JURISDICTION. THIS NOTE MAY
BE RESOLD, PLEDGED OR TRANSFERRED ONLY (1) TO THE ISSUER, (2) TO A PERSON THE TRANSFEROR REASONABLY
BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT
(“RULE 144A”)) THAT PURCHASES FOR ITS OWN ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A
FIDUCIARY OR AGENT FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144A OR (3) IN A TRANSACTION OTHERWISE EXEMPT FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES
AND ANY OTHER JURISDICTION AND BASED ON AN OPINION OF COUNSEL IF THE ISSUER OR TRANSFER AGENT AND
REGISTRAR SO REQUEST, IN EACH SUCH CASE, IN COMPLIANCE WITH THE INDENTURE AND ALL APPLICABLE
SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION. THE HOLDER WILL, AND
EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY TRANSFEREE FROM IT OF THE RESALE RESTRICTIONS SET
FORTH ABOVE.

EACH PERSON ACQUIRING OR HOLDING THIS NOTE SHALL BE DEEMED TO (1) REPRESENT AND WARRANT FOR
THE BENEFIT OF THE ISSUER, THE SELLERS, THE SERVICER AND THE TRUSTEE THAT EITHER (A) IT IS NOT AN
EMPLOYEE BENEFIT PLAN SUBJECT TO ERISA, A “PLAN” DESCRIBED IN SECTION 4975 OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED (THE “CODE”), AN ENTITY DEEMED TO HOLD THE ASSETS OF ANY SUCH PLAN OR A
GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR A CHURCH PLAN (AS DEFINED IN SECTION
3(33) OF ERISA FOR WHICH NO ELECTION HAS BEEN MADE UNDER SECTION 410(D) OF THE CODE) SUBJECT TO
APPLICABLE LAW THAT IS SUBSTANTIALLY SIMILAR TO SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR
(B) ITS PURCHASE AND HOLDING OF THE NOTE WILL NOT, THROUGHOUT THE TERM OF HOLDING, CONSTITUTE A
NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT
OF 1974, AS AMENDED, OR SECTION 4975 OF THE CODE (OR, IN THE CASE OF A GOVERNMENTAL PLAN OR A
NON-ELECTING CHURCH PLAN (AS DESCRIBED ABOVE), ANY SUBSTANTIALLY SIMILAR APPLICABLE LAW) BY REASON
OF THE APPLICATION OF ONE OR MORE STATUTORY OR ADMINISTRATIVE EXEMPTIONS FROM SUCH PROHIBITED
TRANSACTION RULES OR OTHERWISE, AND (2) AGREE THAT IT SHALL NOT SELL OR OTHERWISE TRANSFER THIS
NOTE OR ANY INTEREST THEREIN TO ANY OTHER PERSON WITHOUT ACQUIRING THE SAME REPRESENTATION AND
WARRANTY FROM SUCH OTHER PERSON AND THE SAME OBLIGATION WITH RESPECT TO SALES OR OTHER TRANSFERS.

THE INDENTURE (AS DEFINED BELOW) CONTAINS FURTHER RESTRICTIONS ON THE TRANSFER AND RESALE OF THIS
NOTE. EACH TRANSFEREE OF THIS NOTE, BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE ACCEPTED THIS NOTE,
SUBJECT TO THE FOREGOING RESTRICTIONS ON TRANSFERABILITY. IN ADDITION, EACH TRANSFEREE OF THIS
NOTE, BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE MADE THE REPRESENTATIONS AND AGREEMENTS SET FORTH IN
THE INDENTURE.

BY ACCEPTANCE HEREOF, THE HOLDER OF THIS NOTE AGREES TO THE TERMS AND CONDITIONS SET FORTH IN THE
INDENTURE AND HEREIN.

REGISTERED

No. 1 $100,000,000

SEE REVERSE FOR CERTAIN DEFINITIONS

THE PRINCIPAL OF THIS NOTE MAY BE INCREASED AND DECREASED AS SPECIFIED IN THE SERIES 2010-A
SUPPLEMENT AND IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING
PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

COFINA FUNDING, LLC

SERIES 2010-A COFINA VARIABLE FUNDING ASSET-BACKED NOTES

COFINA FUNDING, LLC, a limited liability company organized and existing under the laws of the
State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises
to pay COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK, B.A. “RABOBANK NEDERLAND”, NEW YORK BRANCH,
as the Funding Agent for the Purchasers party to the Note Purchase Agreement, or registered
assigns, the principal sum of ONE HUNDRED MILLION DOLLARS (U.S.$100,000,000), or if less is due in
whole or in part, the unpaid principal amount of all outstanding amounts borrowed by the Issuer
when due as shown on the reverse hereof or an attachment hereto and recorded in the Note Register
by the Transfer Agent and Registrar, payable on each Settlement Date in the amounts and at the
times specified in the Series 2010-A Supplement, dated as of December 23, 2010 (as amended,
supplemented or otherwise modified from time to time, the “Series 2010-A Supplement”),
between the Issuer and the Trustee to the Base Indenture; provided, however, that
the entire unpaid principal amount of this Note shall be due and payable on the Legal Final
Settlement Date (as defined in the Series 2010-A Supplement). The Issuer will pay interest on this
Note on each Settlement Date at the Note Rate (as defined in the Series 2010-A Supplement) until
the principal of this Note is paid or made available for payment, on the average daily outstanding
principal balance of this Note during the related Settlement Period (as defined in the Series
2010-A Supplement). Interest will be computed on the basis set forth in the Indenture. Such
principal of and interest on this Note shall be paid in the manner specified on the reverse hereof.

The principal of and interest on this Note are payable in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public and private
debts.

Issuer hereby irrevocably authorizes the Funding Agent to enter on the reverse hereof or on an
attachment hereto the date and amount of each borrowing and principal payment under and in
accordance with the Indenture. Issuer agrees that this Note, upon each such entry being duly made,
shall evidence the indebtedness of Issuer with the same force and effect as if set forth in a
separate Note executed by Issuer; provided that such entry is recorded by the Transfer
Agent and Registrar in the Note Register.

Reference is made to the further provisions of this Note set forth on the reverse hereof and
to the Indenture, which shall have the same effect as though fully set forth on the face of this
Note.

Unless the certificate of authentication hereon has been executed by the Trustee whose name
appears below by manual signature, this Note shall not be entitled to any benefit under the
Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose.

[Signatures follow.]

IN WITNESS WHEREOF, the Issuer, has caused this instrument to be signed, manually or in
facsimile, by its Authorized Officer as of the date set forth below.

COFINA FUNDING, LLC

By:

Authorized Officer

[Certificate of Authentication follows.]

CERTIFICATE OF AUTHENTICATION

This is one of the Notes referred to in the within mentioned Series 2010-A Supplement.

U.S. BANK NATIONAL ASSOCIATION,

not in its individual capacity, but solely as Trustee

By:

Authorized Officer

	 	 	Dated:       

[REVERSE OF NOTE]

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Series
2010-A Cofina Variable Funding Asset-Backed Notes (herein called the “Notes”), all issued
under the Series 2010-A Supplement to the Base Indenture dated as of December 23, 2010 (such Base
Indenture, as supplemented by the Series 2010-A Supplement and supplements relating to other series
of notes, as supplemented or amended, is herein called the “Indenture”), between the Issuer
and U.S. BANK NATIONAL ASSOCIATION, as trustee (the “Trustee”, which term includes any
successor Trustee under the Indenture), to which Indenture reference is hereby made for a statement
of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of
the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that
are defined in the Indenture shall have the meanings assigned to them in or pursuant to the
Indenture.

The Note is one of a Series of Notes which are and will be equally and ratably secured by the
collateral pledged as security therefor as and to the extent provided in the Indenture.

Principal of the Notes will be payable on each Settlement Date as set forth in the Indenture.

All principal payments on the Notes shall be made pro rata to the Noteholders
entitled thereto.

Subject to certain limitations set forth in the Indenture, payments of interest on this Note
due and payable on each Settlement Date, together with the installment of principal, if any, to the
extent not in full payment of this Note, shall be made by wire transfer in immediately available
funds to the Person whose name appears as the Holder of this Note on the Note Register as of the
close of business on each Record Date without requiring that this Note be submitted for notation of
payment. Any reduction in the principal amount of this Note effected by any payments made on any
Settlement Date or date of prepayment shall be binding upon all future Holders of this Note and of
any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof,
whether or not noted hereon.

As provided in the Indenture and subject to certain limitations set forth therein, the
transfer of this Note may be registered on the Note Register upon surrender of this Note for
registration of transfer at the office or agency designated by the Issuer pursuant to the
Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Issuer and the Trustee duly executed by, the Holder hereof or its attorney,
duly authorized in writing, and (ii) accompanied by such other documents as the Trustee
may require, and thereupon one or more new Notes of authorized denominations and in the same
aggregate principal amount will be issued to the designated transferee or transferees. No service
charge will be charged for any registration of transfer or exchange of this Note, but the
transferor may be required to pay a sum sufficient to cover any tax or other governmental charge
that may be imposed in connection with any such registration of transfer or exchange.

Each Noteholder, by acceptance of a Note, covenants and agrees that by accepting the benefits
of the Indenture that such Noteholder will not prior to the date which is one year and one day
after the payment in full of the last maturing note of any Series and the termination of the
Indenture institute against the Issuer, or join in any institution against the Issuer of, any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other
proceedings, under any United Stated Federal or state bankruptcy or similar law in connection with
any obligations relating to the Notes, the Indenture or the Transaction Documents.

Each Noteholder, by acceptance of a Note, covenants and agrees that by accepting the benefits
of the Indenture that such Noteholder will treat such Note as indebtedness for all Federal, state
and local income and franchise tax purposes.

Prior to the due presentment for registration of transfer of this Note, the Issuer, the
Trustee and any agent of the Issuer or the Trustee may treat the Person in whose name this Note (as
of the day of determination or as of such other date as may be specified in the Indenture) is
registered as the owner hereof for all purposes, whether or not this Note be overdue, and none of
the Issuer, the Trustee or any such agent shall be affected by notice to the contrary.

The Indenture permits the amendments thereof and modifications of the rights and obligations
of the Issuer and the rights of the Holders of the Notes under the Indenture and waivers of
compliance by the Issuer with provisions of the Indenture as provided in the Indenture. Any such
amendment, modification or waiver shall be conclusive and binding upon the Holder of this Note and
upon all future Holders of this Note and of any Note issued upon the registration of transfer
hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is
made upon this Note.

As provided in the Indenture, no recourse may be taken, directly or indirectly, with respect
to the obligations of the Issuer under the Indenture, including this Note, against any Seller, the
Servicer, the Trustee or any partner, owner, incorporator, beneficiary, beneficial owner, agent,
officer, director, employee, shareholder or agent of the Issuer, any Seller, the Servicer or the
Trustee except as any such Person may have expressly agreed.

The term “Issuer” as used in this Note includes any successor to the Issuer under the
Indenture.

The Issuer is permitted by the Indenture, under certain circumstances, to merge or
consolidate, subject to the rights of the Trustee and the Holders of Notes under the Indenture.

The Notes are issuable only in registered form as provided in the Indenture in denominations
as provided in the Indenture, subject to certain limitations therein set forth.

This Note and the Indenture shall be construed in accordance with the laws of the State of New
York, and the obligations, rights and remedies of the parties hereunder and thereunder shall be
determined in accordance with such laws.

No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the
principal of and interest on this Note.

ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
     

(name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints
     , attorney, to transfer said Note on the books kept for registration thereof, with full
power of substitution in the premises.

	 
	Dated:     

Signature Guaranteed:

The following are borrowings and payments made under this Note of the Issuer:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Loan	 	Amount	 	Date	 	Amount Paid
	Date	 	Borrowed	 	Prin. Paid	 	Principal     Interest

EXHIBIT B

FORM OF MONTHLY NOTEHOLDERS’ STATEMENT

EXHIBIT C

FORM OF TRANSFER CERTIFICATE

CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR REGISTRATION OF TRANSFER OF DEFINITIVE SECURITIES

	 	 	To: U.S. Bank National Association, as Trustee

	 	 	 
	60 Livingston Avenue

	St. Paul, MN 55107

	Re:

	 	Cofina Funding, LLC – Cofina Variable Funding Asset-Backed Notes

This Certificate relates to $      principal amount of Series 2010-A Cofina Variable
Funding Asset-Backed Notes held in definitive form by                                       
 (the “Transferor”) issued pursuant to the Amended and Restated Base Indenture dated as
of December 23, 2010 between Cofina Funding, LLC, as Issuer, and U.S. Bank National Association, as
Trustee, as supplemented by the Series 2010-A Supplement dated as of December 23, 2010 (the
“Series Supplement”) (as amended, supplemented or otherwise modified from time to time, the
“Indenture”). Capitalized terms used herein and not otherwise defined, shall have the
meanings given thereto in the Indenture.

The Transferor (i) has requested the Trustee by written order to exchange or register the
transfer of a Note or Notes and (ii) has reviewed the transfer restrictions set forth in Section
7(c) of the Series Supplement and hereby makes the acknowledgments, representations and agreements
set forth in Section 7(c)(ii) of the Series Supplement.

In connection with such request and in respect of each such Note, the Transferor does hereby
certify as follows:

Such Note is being transferred to a qualified institutional buyer (for its own account and not
for the account of others) or to a fiduciary or agent for the account of a qualified institutional
buyer (as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities
Act”)) in reliance on Rule 144A.

Such Note is being transferred in reliance on and in compliance with an exemption from the
registration requirements of the Securities Act, other than Rule 144A and in compliance with other
applicable state and federal securities laws and, if requested by the Issuer or the Transfer Agent
and Registrar, an opinion of counsel is being furnished simultaneously with the delivery of this
Certificate as required under Section 7(c)(i) of the Series Supplement.

[INSERT NAME OF TRANSFEROR]

By:

Name:

Title:

Date:

SCHEDULE I

Scheduled Targeted Principal Balance

	 	 	 	 	 
	Settlement Date	 	Percentage of Notes Remaining Outstanding
	month 1-12

	 	 	91	%
	month 13-24

	 	 	21	%
	month 25-36

	 	 	13	%
	month 37-48

	 	 	5	%
	month 49 and thereafter

	 	 	0	%

	 	 	 	 	 	 	 	 	 
	PRELIMINARY STATEMENT 1
	 	 	 	 
	SECTION 1.
	 	Designation	 	 	1	 
	SECTION 2.
	 	Definitions	 	 	1	 
	SECTION 3.
	 	Article 3 of the Base Indenture	 	 	4	 
	SECTION 4.
	 	Principal Payments on the Notes	 	 	6	 
	SECTION 5.
	 	Cleanup Call	 	 	6	 
	SECTION 6.
	 	Delivery and Payment for the Notes	 	 	7	 

	 	 	 	SECTION 7. Form of Delivery of the Notes; Denominations; Transfer Restrictions 7	 

	 	 	 	 	 	 	 	 	 
	SECTION 8.
	 	Article 5 of Base Indenture	 	 	10	 
	SECTION 9.
	 	Article 6 of the Base Indenture	 	 	12	 
	SECTION 10.
	 	Series Early Amortization Events	 	 	14	 
	SECTION 11.
	 	[Reserved]	 	 	14	 
	SECTION 12.
	 	Redemption Provision	 	 	14	 
	SECTION 13.
	 	Amendments and Waiver	 	 	14	 
	SECTION 14.
	 	Counterparts	 	 	14	 
	SECTION 15.
	 	Governing Law	 	 	14	 
	SECTION 16.
	 	Waiver of Trial by Jury	 	 	15	 
	SECTION 17.
	 	No Petition	 	 	15	 
	SECTION 18.
	 	Rights of the Trustee	 	 	15	 
	SECTION 19.
	 	Third-Party Beneficiaries	 	 	15	 
	SECTION 20.
	 	Tax Opinion	 	 	15	 

	 	 	 
	EXHIBIT A

EXHIBIT B

EXHIBIT C

	 	Form of Note

Form of Monthly Noteholders’ Statement

Form of Transfer Certificate
	SCHEDULE I

	 	Scheduled Targeted Principal Balance

1NOTE: The signature to this assignment must
correspond with the name of the registered owner as it appears on the face of
the within Note in every particular, without alteration, enlargement or any
change whatsoever.EX-10.5

EMPLOYMENT SECURITY AGREEMENT

THIS AGREEMENT (the “Agreement”) is hereby entered into as of the 23 day of December, 2010 (the
“Effective Date”), by and between CHS Inc. (the “Company”) and Jay Debertin (“Executive”) (each
hereinafter referred to as a “party” and collectively as “the parties”).

The Board of Directors of the Company (the “Board”) has determined that it is in the best
interests of the Company to assure that the Company will have the continued services and dedication
of the Executive, notwithstanding the election of a new Chief Executive Officer of the Company.
The Board believes that it desirable to diminish the inevitable distraction of Executive by virtue
of the personal uncertainties created by a change of the Chief Executive Officer of the Company, to
whom Executive directly reports, and to confirm the compensation and benefit arrangements of the
Executive for the transitional period of the Company’s new Chief Executive Officer. In order to
accomplish these objectives, the Board has caused the Company to enter into this Agreement.

In consideration of the respective agreements of the parties contained herein, it is agreed as
follows:

	1.	 	Term. The term of this Agreement shall be for the period commencing on the Effective
Date and ending, subject to earlier termination as set forth in Section 7, on the second
anniversary of the Effective Date (such term, as may be hereafter extended, the “Employment
Term”). Notwithstanding this Agreement, Executive’s employment with the Company shall be “at
will”.

	2.	 	Employment. During the Employment Term:

	 	(a)	 	Executive shall (i) serve as an Executive Vice President of the Company, with
such authority, power, duties and responsibilities as are commensurate with such
position and as are customarily exercised by a person situated in a similar executive
capacity at a similar company, and (ii) report directly to the Chief Executive Officer
of the Company (the “CEO”).

	 	(b)	 	Executive shall devote his full-time business attention to the business and
affairs of the Company and he shall perform his duties faithfully and efficiently
subject to the directions of the CEO. Executive may serve on civil or charitable boards
or committees, or with the approval of the CEO, public company boards or committees
thereof, as long as such service does not interfere with the performance of his
responsibilities hereunder and subject to the Company’s code of conduct and other
applicable policies as in effect from time to time. Executive may manage personal and
family investments and affairs, participate in industry organizations and deliver
lectures at educational institutions, so long as such activities do not interfere with
the performance of Executive’s responsibilities hereunder. Executive shall be subject
to and shall abide by each of the Company’s personnel policies applicable to other
senior executives.

	3.	 	Compensation.

	 	(a)	 	Base Salary. The Company agrees to pay or cause to be paid to Executive
during the Employment Term a base salary at the annual rate of $550,000 or such
increased amount as the CEO may from time to time determine (hereinafter referred to as
the “Base Salary”); provided, however, that the Base Salary may be reduced by no more
than 10% in connection with an across-the-board salary reduction by the Company
similarly affecting all senior executives of the Company. The Base Salary shall be
payable in accordance with the Company’s customary practices applicable to its
executives. Such Base Salary shall be reviewed by the CEO pursuant to the Company’s
normal performance review policies for senior executives.

	 	(b)	 	Annual Incentive Compensation. For each fiscal year of the Company
ending during the Employment Term, Executive shall be eligible to receive target annual
cash incentive compensation of 70% of the Base Salary as in effect on the final day of
such fiscal year (such target incentive compensation, as may hereafter be increased,
the “Target Annual Incentive”) with the opportunity to receive a maximum annual cash
incentive compensation of 140% of the Base Salary, as approved by the Board upon the
recommendation of the CEO, if the Company and Executive achieve certain performance
targets set by the Board upon the recommendation of the CEO. Such annual incentive
compensation (“Annual Incentive Compensation”) shall be paid in no event later than the
15th day of the third month following the end of the taxable year (of the Company or
Executive, whichever is later) in which the performance targets have been achieved.

	 	(c)	 	Long-Term Incentive Opportunity. To the extent the Company determines
to award long-term incentive compensation, Executive shall be eligible to participate
in such programs (subject to the terms and conditions set forth in the applicable plan
and agreements) and shall be eligible to receive a target long-term incentive award of
70% of the Base Salary as in effect on the final day of preceding fiscal year (such
target award, the “Target LTIP Award”) with the opportunity to receive a maximum
long-term incentive award of 140% of the Base Salary, as approved by the Board upon the
recommendation of the CEO, if the Company and Executive achieve certain performance
targets during certain performance periods, each as set by the Board upon the
recommendation of the CEO.

	4.	 	Benefits.

	 	(a)	 	Employee Benefits. During the Employment Term, Executive shall be
entitled to participate in all employee benefit plans, practices and programs
maintained by the Company and made available to employees generally (other than plans
in effect on the date hereof that are closed to new participants), to the extent
Executive is eligible under the terms of such plans. Executive’s participation in such
plans, practices and programs shall be on the same basis and terms as are applicable to
employees of the Company generally.

	 	(b)	 	Executive Benefits. During the Employment Term, Executive shall be
entitled to participate in such executive benefit plans and to receive such fringe
benefits maintained or hereafter established by the Company for the benefit of
Executive Vice Presidents of the Company generally, on the same basis and terms as are
applicable to such Executive Vice Presidents generally. No additional compensation
provided under any of such plans or arrangements shall be deemed to modify or otherwise
affect the terms of this Agreement or any of Executive’s entitlements hereunder.

	 	(c)	 	Business Expenses. Upon submission of proper invoices in accordance
with the Company’s policies, Executive shall be entitled to receive prompt
reimbursement of all reasonable out-of-pocket business, entertainment and travel
expenses incurred by Executive in connection with the performance of Executive’s duties
hereunder and otherwise incurred in accordance with the Company’s travel and
entertainment policy in effect from time to time. Such reimbursement shall be made as
soon as practicable and in no event later than the end of the calendar year following
the calendar year in which the expenses were incurred.

	 	(d)	 	Paid Time Off (PTO). Executive shall be entitled, without loss of pay,
to absent himself voluntarily, for illness, vacation or other reasons, from the
performance of Executive’s employment under this Agreement, pursuant to the Company’s
Paid Time-Off Policy.

	5.	 	Recoupment. In the event of a restatement of the Company’s financial results (other
than a prophylactic or voluntary restatement due to a change in applicable accounting rules or
interpretations) due to material noncompliance with financial reporting requirements, with
respect to any compensation granted (whether already paid or only calculated as payable and
yet to be paid) to Executive if the Board determines in good faith good faith that such
compensation was awarded (or in the case of unpaid compensation, determined for award) based
on such material noncompliance then the Board or a committee thereof comprised of independent
(as defined under the rule of the NASDAQ Stock Market) Board members shall be entitled on
behalf of the Company to recover all of the Executive’s compensation (or in the case of unpaid
compensation, to reduce such compensation) based on the erroneous financial data in excess of
what would have been paid (or in the case of unpaid compensation, what should be paid) to the
Executive under the accounting restatement.  Such recovery period shall comprise up to the
three (3) years preceding the date on which the Company is required to prepare the accounting
restatement.

In determining whether to seek recovery of compensation, the Board or applicable committee
thereof may take into account any considerations it deems appropriate, including whether the
assertion of a claim may violate applicable law or adversely impact the interests of the
Company in any related proceeding or investigation and the extent to which the Executive was
responsible for the error that resulted in the restatement. This Section 5 shall be deemed
amended to the extent reasonably necessary to conform to any applicable law or to any
Company recoupment policy adopted by the Board for its senior executives.

	6.	 	Termination. The Employment Term and Executive’s employment hereunder may be
terminated under the circumstances set forth below; provided, however, that notwithstanding
anything contained herein to the contrary, Executive shall not have any duties or
responsibilities to the Company after Executive’s termination of employment during the
Employment Term or upon expiration of the Employment Term that would preclude Executive from
having a “separation from service” from the Company within the meaning of Section 409A of the
Code, upon expiration of the Employment Term.

	 	(a)	 	Disability. The Company may terminate the Employment Term and
Executive’s employment hereunder, on written notice to Executive after having
reasonably established Executive’s Disability. For purposes of this Agreement,
Executive will be deemed to have a “Disability” if, as a result of the Executive’s
incapacity due to physical or mental illness, the Executive shall have been absent from
the full-time performance of the Executive’s duties with the Company for a period of
six (6) consecutive months, the Company shall have given the Executive a Notice of
Termination for Disability, and, within thirty (30) days after such Notice of
Termination is given, the Executive shall not have returned to the full-time
performance of the Executive’s duties. Executive shall be entitled to the compensation
and benefits provided for under this Agreement for any period prior to Executive’s
termination by reason of Disability during which Executive is unable to work due to a
physical or mental infirmity in accordance with the Company’s policies for
similarly-situated executives.

	 	(b)	 	Death. The Employment Term and Executive’s employment hereunder shall
be terminated as of the date of Executive’s death.

	 	(c)	 	Cause. The Company may terminate the Employment Term and Executive’s
employment hereunder for “Cause” by providing a Notice of Termination (as defined in
Section 7 below) that notifies Executive of his termination for Cause, effective as of
the date of such notice. “Cause” shall mean, for purposes of this Agreement: (a) the
deliberate and continued failure to substantially perform Executive’s duties and
responsibilities under this Agreement; (b) the criminal felony conviction of, or a plea
of guilty or nolo contendere by, Executive; (c) the knowing, willful and material
violation of Company policy; (d) the act of fraud or dishonesty resulting or intended
to result in personal enrichment at the expense of the Company; (e) the gross
misconduct in performance of duties that results in material economic harm to the
Company; or (f) the material breach of this Agreement by Executive. Notwithstanding
the foregoing, in order to establish “Cause” for Executive’s termination for purposes
of clauses (a), (c) and (f) above, the Company must deliver a written demand to
Executive which specifically identifies the conduct that may provide grounds for Cause,
and the Executive must have failed to cure such conduct within thirty (30) days after
such demand. Reference in this paragraph to the Company shall also include direct and
indirect subsidiaries of the Company.

	 	(d)	 	Without Cause. The Company may terminate the Employment Term and
Executive’s employment hereunder other than for Cause, Disability or death. The
Company shall deliver to Executive a Notice of Termination (as defined in Section 7
below) prior to such termination other than for Cause, Disability or death, which
notice shall specify the termination date.

	 	(e)	 	Good Reason. Executive may terminate the Employment Term and his
employment hereunder with the Company for Good Reason (as defined below) by delivering
to the Company a Notice of Termination not less than thirty (30) days prior to such
termination for Good Reason. The Company shall have the option of terminating
Executive’s duties and responsibilities prior to the expiration of such thirty-day
notice period. For purposes of this Agreement, “Good Reason” means any of the
following: (a) a material diminution in Executive’s duties, title or position; (b) a
reduction of ten percent (10%) or more by the Company in the Executive’s Base Salary
except for across-the-board salary reductions similarly affecting all senior executive
officers of the Company; or (c) a material breach by the Company of its obligations
under this Agreement. Good Reason shall not exist unless Executive shall provide
notice of the existence of the Good Reason condition within ninety (90) days of the
date Executive learns of the condition. The Company shall have a period of thirty (30)
days during which it may remedy the condition, and in case of full remedy such
condition shall not be deemed to constitute Good Reason hereunder.

	 	(f)	 	Without Good Reason. Executive may voluntarily terminate the
Employment Term and Executive’s employment hereunder without Good Reason by delivering
to the Company a Notice of Termination not less than ninety (90) days prior to such
termination and the Company shall have the option of terminating Executive’s duties and
responsibilities prior to the expiration of such ninety-day notice period.

	7.	 	Notice of Termination. Any purported termination by the Company or by Executive shall
be communicated by written Notice of Termination to the other party hereto. For purposes of
this Agreement, a “Notice of Termination” shall mean a notice that indicates a termination
date, the specific termination provision in this Agreement relied upon and sets forth in
reasonable detail the facts and circumstances claimed to provide a basis for termination of
Executive’s employment under the provision so indicated. For purposes of this Agreement, no
such purported termination of Executive’s employment hereunder shall be effective without such
Notice of Termination (unless waived by the party entitled to receive such notice, in the
manner described in Section 14(g)).

	8.	 	Compensation Upon Termination. Upon termination of Executive’s employment during the
Employment Term, Executive shall be entitled to the following benefits:

	 	(a)	 	Termination by the Company for Cause or by Executive Without Good
Reason. If Executive’s employment is terminated by the Company for Cause or by
Executive without Good Reason, the Company shall provide Executive with the following
payments and benefits (collectively, the “Accrued Compensation”):

	 	(i)	 	any accrued and unpaid Base Salary;

	 	(ii)	 	any Annual Incentive Compensation earned but unpaid in respect
of any completed fiscal year preceding the termination date;

	 	(iii)	 	reimbursement for any and all monies advanced or expenses
incurred in connection with Executive’s employment for reasonable and necessary
expenses incurred by Executive on behalf of the Company for the period ending
on the termination date;

	 	(iv)	 	any accrued and unpaid vacation pay;

	 	(v)	 	any previous compensation that Executive has previously
deferred (including any interest earned or credited thereon), in accordance
with the terms and conditions of the applicable deferred compensation plans or
arrangements then in effect, to the extent vested as of Executive’s termination
date; and

	 	(vi)	 	any amount or benefit as provided under any plan, program,
agreement or corporate governance document of the Company or its affiliates
that are then-applicable (the “Company Arrangements”), in accordance with the
terms thereof.

	 	(b)	 	Termination by the Company for Disability. If Executive’s employment is
terminated by the Company for Disability, Executive shall be entitled to the Accrued
Compensation.

	 	(c)	 	Termination By Reason of Death. If Executive’s employment is terminated
by reason of Executive’s death, Executive shall be entitled to the Accrued
Compensation.

	 	(d)	 	Termination by the Company Other Than for Cause, Disability or Death, or by
Executive with Good Reason. If Executive’s employment with the Company shall be
terminated (x) by the Company other than for Cause, Disability or death, or (y) by
Executive with Good Reason, Executive shall be entitled, in lieu of any payments and
benefits under the Company’s then existing severance policies, to the following
payments and benefits; provided that, in the case of clauses (ii), (iii) and (iv)
below, Executive shall have executed and not revoked a release of claims in
substantially the form set forth in Exhibit A hereto:

	 	(i)	 	the Accrued Compensation;

	 	(ii)	 	an amount equal to the product of (A) the Annual Incentive
Compensation that Executive would have been entitled to receive in respect of
the fiscal year in which Executive’s termination date occurs, had Executive
continued in employment until the end of such fiscal year, which amount shall
be determined based on the Company’s actual performance for such year relative
to the Company performance goals applicable to Executive (with that portion of
the Annual Incentive Compensation based upon completion or partial completion
of previously specified personal goals equal to 30% of the Target Annual
Incentive and without any exercise of negative discretion with respect to
Executive with respect to the remainder of the Annual Incentive Compensation in
excess of that applied either to senior executives of the Company generally for
the applicable performance period or in accordance with the Company’s
historical past practice), and (B) a fraction (x) the numerator of which is the
number of days in such fiscal year through termination date and (y) the
denominator of which is 365; such amount shall be payable in a cash lump sum
payment at the time such incentive awards are payable to other participants,
but in no event later than the 15th day of the third month following the end of
the taxable year (of the Company or Executive, whichever is later) in which the
termination took place;

	 	(iii)	 	in lieu of any further Base Salary or other compensation or
benefits not described in clauses (i), (ii), or (iv) for periods subsequent to
the termination date, an amount in cash equal to (A) two (2) times Executive’s
Base Salary plus (B) two (2) times Executive’s Target Annual Incentive which
amount shall be payable in three equal installments of 1/3 of such amount with
the first payment payable within (i) sixty (60) days following such
termination, (ii) the second payment payable on the first anniversary of such
termination, and (iii) the third payment payable on the second anniversary of
termination; and

	 	(iv)	 	the Company shall provide Executive and Executive’s dependents
with continued coverage under any health, medical, dental, vision or life
insurance program or policy in which Executive was eligible to participate as
of the time of Executive’s employment termination, for two (2) years following
such termination on terms no less favorable to Executive and Executive’s
dependents (including with respect to payment for the costs thereof) than those
in effect immediately prior to such termination, which coverage shall cease, on
a benefit-by benefit basis, once any coverage is made available to Executive by
a subsequent employer. COBRA continuation coverage shall run concurrently with
such two-year period. Anything herein to the contrary notwithstanding, the
terms of this Section 8(d)(iv) shall be modified to the extent required to meet
the provisions of any federal law applicable to the healthcare plans and
arrangements of the Company, including to the extent required to maintain the
grandfathered status of such plans or arrangements under federal law. Any
failure to provide the coverage specified herein shall not in and of itself
constitute a breach of this Agreement, provided, however, that the Company
shall use its reasonable efforts to provide economically equivalent payments or
benefits to Executive to the extent possible without adverse effects on the
Company, to the extent permitted by law.

	 	(e)	 	Expiration of Employment Term After Notice of Non-Renewal by the
Company. If the Executive’s employment terminates at the end of the Employment Term
because the Company has delivered a notice of non-renewal (as described in Section 1):

	 	(i)	 	Executive shall be entitled to such payments and benefits as
are applicable to Executive under the Company’s severance policies in place as
of the end of the Employment Term; and

	 	(ii)	 	the Company shall provide Executive and Executive’s dependents
with continued coverage under any health, medical, dental, vision or life
insurance program or policy in which Executive was eligible to participate as
of the time of Executive’s employment termination, for two (2) years following
such termination on terms no less favorable to Executive and Executive’s
dependents (including with respect to payment for the costs thereof) than those
in effect immediately prior to such termination, which coverage shall cease, on
a benefit-by benefit basis, once any coverage is made available to Executive by
a subsequent employer. COBRA continuation coverage shall run concurrently with
such two-year period. Anything herein to the contrary notwithstanding, the
terms of this Section 8(e)(ii) shall be modified to the extent required to meet
the provisions of any federal law applicable to the healthcare plans and
arrangements of the Company, including to the extent required to maintain the
grandfathered status of such plans or arrangements under federal law. Any
failure to provide the coverage specified herein shall not in and of itself
constitute a breach of this Agreement, provided, however, that the Company
shall use its reasonable efforts to provide economically equivalent payments or
benefits to Executive to the extent possible without adverse effects on the
Company, to the extent permitted by law.

	 	(f)	 	No Mitigation. Executive shall not be required to mitigate the amount
of any payment provided for under this Agreement by seeking other employment or
otherwise and, except as provided in Sections 8(d)(iv) and 8(e)(ii) above, no such
payment shall be offset or reduced by the amount of any compensation or benefits
provided to Executive in any subsequent employment.

	9.	 	Section 409A. Notwithstanding anything contained herein to the contrary, to the
extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A
of the Code, (i) no amounts shall be paid to Executive under Section 8 of this Agreement until
Executive would be considered to have incurred a separation from service from the Company
within the meaning of Section 409A of the Code, and (ii) amounts that would otherwise be
payable and benefits that would otherwise be provided pursuant to this Agreement during the
six-month period immediately following Executive’s separation from service shall instead be
paid on the first business day after the date that is six months following Executive’s
separation from service (or death, if earlier). Each amount to be paid or benefit to be
provided to Executive pursuant to this Agreement, which constitutes deferred compensation
subject to Section 409A, shall be construed as a separate identified payment for purposes of
Section 409A. To the extent required to avoid an accelerated or additional tax under Section
409A, amounts reimbursable to Executive under this Agreement shall be paid to Executive on or
before the last day of the year following the year in which the expense was incurred and the
amount of expenses eligible for reimbursement (and in-kind benefits provided to Executive)
during any one year may not effect amounts reimbursable or provided in any subsequent year;
provided, however, that with respect to any reimbursements for any taxes which Executive would
become entitled to under the terms of this Agreement, the payment of such reimbursements shall
be made by the Company no later than the end of the calendar year following the calendar year
in which Executive remits the related taxes.

	10.	 	Records and Confidential Data.

	 	(a)	 	Executive acknowledges that in connection with the performance of Executive’s
duties during the Employment Term, the Company will make available to Executive, or
Executive will develop and have access to, certain Confidential Information (as defined
below) of the Company and its subsidiaries. Executive acknowledges and agrees that any
and all Confidential Information learned or obtained by Executive during the course of
Executive’s employment by the Company or otherwise, whether developed by Executive
alone or in conjunction with others or otherwise, shall be and is the property of the
Company and its subsidiaries.

	 	(b)	 	Executive shall keep confidential all Confidential Information, shall not use
Confidential Information in any manner that is detrimental to the Company, shall not
use Confidential Information other than in connection with Executive’s discharge of
Executive’s duties hereunder, and shall safeguard the Company from unauthorized
disclosure; provided, however, that Confidential Information may be disclosed by
Executive (i) to the Company and its affiliates, or to any authorized agent or
representative of any of them, (ii) in connection with performing his duties hereunder,
(iii) subject to Section 11(c), when required to do so by law or by a court,
governmental agency, legislative body, arbitrator or other person with apparent
jurisdiction to order him to divulge, disclose or make accessible such information,
provided that Executive notify the Company prior to such disclosure, (iv) in the course
of any proceeding under Sections 12 or 13 of this Agreement or (v) in confidence to an
attorney or other professional advisor for the purpose of securing professional advice,
so long as such attorney or advisor is subject to confidentiality restrictions no less
restrictive than those applicable to Executive hereunder.

	 	(c)	 	As soon as possible following the termination of Executive’s employment
hereunder, Executive shall return to the Company all written Confidential Information
that is in his possession or control and destroy all of his copies of any analyses,
compilations, studies or other documents containing or reflecting any Confidential
Information. Within five (5) business days of the receipt of such request by Executive,
Executive shall, upon written request of the Company, deliver to the Company a document
certifying that such written Confidential Information has been returned or destroyed in
accordance with this Section 10(c).

	 	(d)	 	For the purposes of this Agreement, “Confidential Information” shall mean all
confidential and proprietary information of the Company and its subsidiaries,
including, without limitation,

	 	(i)	 	trade secrets concerning the business and affairs of the
Company and its subsidiaries, product specifications, data, know-how, formulae,
compositions, processes, non-public patent applications, designs, sketches,
photographs, graphs, drawings, samples, inventions and ideas, past, current,
and planned research and development, current and planned manufacturing or
distribution methods and processes, customer lists, current and anticipated
customer requirements, price lists, market studies, business plans, computer
software and programs (including object code and source code), computer
software and database technologies, systems, structures, and architectures (and
related formulae, compositions, processes, improvements, devices, know-how,
inventions, discoveries, concepts, ideas, designs, methods and information);

	 	(ii)	 	information concerning the business and affairs of the Company
and its subsidiaries (which includes unpublished financial statements,
financial projections and budgets, unpublished and projected sales, capital
spending budgets and plans, the names and backgrounds of key personnel, to the
extent not publicly known, personnel training and techniques and materials)
however documented; and

	 	(iii)	 	notes, analysis, compilations, studies, summaries, and other
material prepared by or for the Company or its subsidiaries containing or
based, in whole or in part, on any information included in the foregoing. For
purposes of this Agreement, the Confidential Information shall not include and
Executive’s obligations shall not extend to (i) information that is generally
available to the public, (ii) information obtained by Executive other than
pursuant to or in connection with this employment and (iii) information that is
required to be disclosed by law or legal process.

	11.	 	Covenant Not to Solicit, Not to Compete, Not to Disparage and to Cooperate in
Litigation.

	 	(a)	 	Covenant Not to Solicit. To protect the Confidential Information and
other trade secrets of the Company as well as the goodwill and competitive business of
the Company, Executive agrees, during the Employment Term (i) not to solicit or
participate in or assist in any way in the solicitation of any employees of the Company
(ii) not to solicit, influence or attempt to influence any person who was a customer of
the Company or its affiliates during the period of Executive’s employment hereunder or
solicit, influence or attempt to influence potential customers who are or were
identified through leads developed during the course of employment with the Company, or
otherwise divert or attempt to divert any existing business of the Company and its
affiliates. For purposes of clause (i) of this covenant, “solicit” or “solicitation”
means directly or indirectly influencing or attempting to influence employees of the
Company to cease employment with the Company (except in the course of Executive’s
duties to the Company) or to become employed with any other person, partnership, firm,
corporation or other entity, provided, that solicitation through general advertising
not targeted at the Company’s employees or the provision of references shall not
constitute a breach of such obligations. If Executive’s employment with the Company
shall be terminated (x) by the Company other than for Cause, Disability or death, or
(y) by Executive with Good Reason this Covenant not to Solicit shall be extended for a
period of twenty-four (24) months after Executive’s cessation of employment with the
Company in consideration of the payments and other benefits to be received by Executive
pursuant to Section 8(d) of this Agreement. Executive agrees that the covenants
contained in this Section 11(a) are reasonable and desirable to protect the
Confidential Information of the Company.

	 	 	 	(b)

1

Covenant Not to Compete.

	 	(i)	 	To protect the Confidential Information and other trade secrets
of the Company as well as the goodwill and competitive business of the Company,
Executive agrees, during the Employment Term, that Executive will not, except
in the course of Executive’s employment hereunder, directly or indirectly for
the Executive or any third party, manage, operate, control, or participate in
the management, operation, or control of, be employed by, associated with, or
in any manner connected with, lend Executive’s name to, or render services or
advice to, any third party, or any business, whose services or products compete
(including as described below) with the material services or products of the
Company; provided, however, that Executive may in any event (x) own up
to a 5% passive ownership interest in any public or private entity, and (y) be
employed by, or otherwise have material association with, any business whose
services or products compete with the material services or products of the
Company so long as his employment or association is solely with a separately
managed and operated division or affiliate of such business that does not
compete with the Company. If Executive’s employment with the Company shall be
terminated (x) by the Company other than for Cause, Disability or death, or (y)
by Executive with Good Reason this Covenant not to Compete shall be extended
for a period of twenty-four (24) months after Executive’s cessation of
employment with the Company in consideration of the payments and other benefits
to be received by Executive pursuant to Section 8(d) of this Agreement.

	 	(ii)	 	For purposes of this Section 11(b), any third party, or any
business, whose products compete includes any entity engaged in any business or
activity which is directly in competition with any services or products sold
by, or any business or activity engaged in by, the Company or any of its
affiliates, or any entity with which the Company has a product(s) licensing
agreement at the end of the Employment Term and any entity with which the
Company is, at the time of termination, negotiating, and eventually concludes
within twelve (12) months of the Employment Term, a product licensing or
acquisition agreement.

	 	(c)	 	Cooperation in Any Investigations and Litigation. Executive agrees
that Executive will reasonably cooperate with the Company, and its counsel, in
connection with any investigation, inquiry, administrative proceeding or litigation
relating to any matter in which Executive becomes involved or of which Executive has
knowledge as a result of Executive’s service with the Company by providing truthful
information. The Company agrees to promptly reimburse Executive for reasonable
expenses (including attorneys fees and other expenses of counsel) reasonably incurred
by Executive, in connection with Executive’s cooperation pursuant to this Section
11(c). Such reimbursements shall be made as soon as practicable, and in no event later
than the calendar year following the year in which the expenses are incurred.
Executive agrees that, in the event Executive is subpoenaed by any person or entity
(including, but not limited to, any government agency) to give testimony (in a
deposition, court proceeding or otherwise) which in any way relates to Executive’s
employment by the Company, Executive will, to the extent not legally prohibited from
doing so, give prompt notice of such request to the General Counsel of the Company so
that the Company may contest the right of the requesting person or entity to such
disclosure before making such disclosure. Nothing in this provision shall require
Executive to violate Executive’s obligation to comply with valid legal process.

	 	(d)	 	Nondisparagement. Executive covenants that during and following the
Employment Term, Executive will not disparage or encourage or induce others to
disparage the Company or its subsidiaries, together with all of their respective past
and present directors and officers, as well as their respective past and present
managers, officers, shareholders, partners, employees, agents, attorneys, servants and
customers and each of their predecessors, successors and assigns (collectively, the
“Company Entities and Persons”); provided that such limitation shall extend to past and
present managers, officers, shareholders, partners, employees, agents, attorneys,
servants and customers only in their capacities as such or in respect of their
relationship with the Company and its subsidiaries. Nothing in this Agreement is
intended to or shall prevent Executive from providing, or limiting testimony in
response to a valid subpoena, court order, regulatory request or other judicial,
administrative or legal process or otherwise as required by law, or in arbitration
under Section 13.

	 	(e)	 	Blue Pencil. It is the intent and desire of Executive and the Company
that the provisions of this Section 11 be enforced to the fullest extent permissible
under the laws and public policies as applied in each jurisdiction in which enforcement
is sought. If any particular provision of this Section 11 shall be determined to be
invalid or unenforceable, such covenant shall be amended, without any action on the
part of either party hereto, to delete there from the portion so determined to be
invalid or unenforceable, such deletion to apply only with respect to the operation of
such covenant in the particular jurisdiction in which such adjudication is made.

	 	(f)	 	Survival. Executive’s obligations under this Section 11 shall survive
the termination of the Employment Term.

	12.	 	Remedies for Breach of Obligations under Sections 10 or 11 hereof. Executive
acknowledges that the Company will suffer irreparable injury, not readily susceptible of
valuation in monetary damages, if Executive breaches Executive’s obligations under Sections 10
or 11 hereof. Accordingly, Executive agrees that the Company will be entitled, in addition to
any other available remedies, to obtain injunctive relief against any breach or prospective
breach by Executive of Executive’s obligations under Sections 10 or 11 hereof in any Federal
or state court sitting in the State of Minnesota, or, at the Company’s election, in any other
state in which Executive maintains Executive’s principal residence or Executive’s principal
place of business. Executive hereby submits to the non-exclusive jurisdiction of all those
courts for the purposes of any actions or proceedings instituted by the Company to obtain that
injunctive relief, and Executive agrees that process in any or all of those actions or
proceedings may be served by registered mail, addressed to the last address provided by
Executive to the Company, or in any other manner authorized by law.

	13.	 	Resolution of Disputes. Any claim or dispute arising out of or relating to this
Agreement, any other Company Arrangement, Executive’s employment with the Company, or any
termination thereof (collectively, “Covered Claims”) shall (except to the extent
otherwise provided in Section 12 with respect to certain requests for injunctive relief) be
resolved (x) if mutually agreed by the Company and Executive, by confidential mediation with
the assistance of an independent mediator selected by mutual agreement of the parties, or (y)
if such mediation is not successful or if such mediation is not mutually agreed by the Company
or Executive, by litigation to occur in the District Court of the Second Judicial District,
County of Ramsey, State of the Minnesota or the United States District Court for the District
of Minnesota. Judgment upon such award may be entered in any court having jurisdiction
thereof. Each party shall bear its (or his) own costs, including, without limitation, the
fees and expenses of its (or his) own attorney, and the fees and expenses of the arbitrator
shall be borne equally by each party.

	14.	 	Representations and Warranties.

	 	(a)	 	The Company represents and warrants that (i) it is fully authorized by action
of the Board of Directors of the Company (and of any other person or body whose action
is required) to enter into this Agreement and to perform its obligations under it, (ii)
the execution, delivery and performance of this Agreement by it does not violate any
applicable law, regulation, order, judgment or decree or any agreement, arrangement,
plan or corporate governance document (x) to which it is a party or (y) by which it is
bound, and (iii) upon the execution and delivery of this Agreement by the parties, this
Agreement shall be its valid and binding obligation, enforceable against it in
accordance with its terms, except to the extent that enforceability may be limited by
applicable bankruptcy, insolvency or similar laws affecting the enforcement of
creditors’ rights generally.

	 	(b)	 	Executive represents and warrants to the Company that Executive is not a party
to or otherwise bound by any agreement or arrangement (including, without limitation,
any license, covenant, or commitment of any nature), or subject to any judgment,
decree, or order of any court or administrative agency, that would conflict with or
will be in conflict with or in any way preclude, limit or inhibit Executive’s ability
to execute this Agreement or to carry out Executive’s duties and responsibilities
hereunder.

	15.	 	Miscellaneous.

	 	(a)	 	Successors and Assigns.

	 	(i)	 	This Agreement shall be binding upon and shall inure to the
benefit of the Company, its successors and permitted assigns and the Company
shall require any successor or assign to expressly assume and agree to perform
this Agreement in the same manner and to the same extent that the Company would
be required to perform if no such succession or assignment had taken place. The
Company may not assign or delegate any rights or obligations hereunder except
to a successor (whether direct or indirect, by purchase, merger, consolidation
or otherwise) to all or substantially all of the business and/or assets of the
Company. The term “the Company” as used herein shall include a corporation or
other entity acquiring all or substantially all the assets and business of the
Company (including this Agreement) whether by operation of law or otherwise.

	 	(ii)	 	Neither this Agreement nor any right or interest hereunder
shall be assignable or transferable by Executive, Executive’s beneficiaries or
legal representatives, except by will or by the laws of descent and
distribution. This Agreement shall inure to the benefit of and be enforceable
by Executive’s legal personal representatives.

	 	(b)	 	Indemnification. The Company shall indemnify Executive as provided in
Company’s by-laws and Articles of Incorporation.

	 	(c)	 	Fees and Expenses. The Company shall pay reasonable and documented
legal fees and related expenses, up to a maximum amount of $10,000, incurred by
Executive in connection with the review of this Agreement. Such reimbursement shall be
made as soon as practicable, but in no event later than the end of the calendar year
following the calendar year in which the expenses were incurred.

	 	(d)	 	Right to Counsel. Executive acknowledges that Executive has had the
opportunity to consult with legal counsel of Executive’s choice in connection with the
drafting, negotiation and execution of this Agreement and related employment
arrangements.

	 	(e)	 	Notice. For the purposes of this Agreement, notices and all other
communications provided for in the Agreement (including the Notice of Termination)
shall be in writing and shall be deemed to have been duly given when personally
delivered or sent by Certified mail, return receipt requested, postage prepaid,
addressed to the respective addresses last given by each party to the other, provided
that all notices to the Company shall be directed to the attention of the General
Counsel of the Company. All notices and communications shall be deemed to have been
received on the date of delivery thereof or on the third business day after the mailing
thereof, except that notice of change of address shall be effective only upon receipt.

	 	(f)	 	Withholding. The Company shall be entitled to withhold the amount, if
any, of all taxes of any applicable jurisdiction required to be withheld by an employer
with respect to any amount paid to Executive hereunder. The Company, in its sole and
absolute discretion, shall make all determinations as to whether it is obligated to
withhold any taxes hereunder and the amount hereof.

	 	(g)	 	Modification. No provision of this Agreement may be modified, waived or
discharged unless such waiver, modification or discharge is agreed to in writing and
signed by Executive and the Company. No waiver by either party hereto at any time of
any breach by the other party hereto of, or compliance with, any condition or provision
of this Agreement to be performed by such other party shall be deemed a waiver of
similar or dissimilar provisions or conditions at the same or at any prior or
subsequent time. No agreement or representations, oral or otherwise, express or
implied, with respect to the subject matter hereof have been made by either party which
is not expressly set forth in this Agreement.

	 	(h)	 	Effect of Other Law. Anything herein to the contrary notwithstanding,
the terms of this Agreement shall be modified to the extent required to meet the
provisions of any federal law applicable to the employment arrangements between
Executive and the Company. Any delay in providing benefits or payments, any failure to
provide a benefit or payment, or any repayment of compensation that is required under
the preceding sentence shall not in and of itself constitute a breach of this
Agreement, provided, however, that the Company shall provide economically equivalent
payments or benefits to Executive to the extent permitted by law.

	 	(i)	 	Governing Law. This Agreement shall be governed by and construed and
enforced in accordance with the laws of the State of Minnesota applicable to contracts
executed in and to be performed entirely within such State, without giving effect to
the conflict of law principles thereof.

	 	(j)	 	Inconsistencies. In the event of any inconsistency between any
provision of this Agreement and any provision of any employee handbook, personnel
manual, program, policy, or arrangement of the Company or its affiliates (including,
without limitation, any provisions relating to notice requirements and post-employment
restrictions), the provisions of this Agreement shall control, unless the parties
otherwise agree in a writing that expressly refers to the provision of this Agreement
whose control he is waiving.

	 	(k)	 	Beneficiaries/References. In the event of Executive’s death or a
judicial determination of his incompetence, references in this Agreement to Executive
shall be deemed, where appropriate, to refer to his beneficiary, estate or other legal
representative.

	 	(l)	 	Survivorship. Except as otherwise set forth in this Agreement, the
respective rights and obligations of the parties hereunder shall survive the Employment
Term and any termination of the Executive’s employment.

	 	(m)	 	Severability. The provisions of this Agreement shall be deemed
severable and the invalidity or unenforceability of any provision shall not affect the
validity or enforceability of the other provisions hereof.

	 	(n)	 	Entire Agreement. This Agreement constitutes the entire agreement
between the parties hereto and supersedes all prior agreements, if any, understandings
and arrangements, oral or written, between the parties hereto with respect to the
subject matter hereof.

	 	(o)	 	Counterparts. This Agreement may be executed in one or more
counterparts, each of which will be deemed to be an original copy of this Agreement and
all of which, when taken together, will be deemed to constitute one and the same
agreement.

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer and Executive has executed this Agreement as of the day and year first
above written.

CHS INC.

By:       /s/ John D. Johnson—

	 
	 	 	Name:	 	 	John D. Johnson
	 	 	Title: President and Chief Executive Officer

JAY DEBERTIN

      /s/ Jay Debertin—

2

EXHIBIT A

FORM OF RELEASE AGREEMENT

THIS RELEASE AGREEMENT (the “Release”) is made as of this        day of       ,       , by and
between Jay Debertin (“Executive”) and CHS Inc. (the “Company”).

	1.	 	FOR AND IN CONSIDERATION of the payments and benefits provided in the Employment Agreement
between Executive and the Company dated as of             , 2010, (the “Employment Agreement”),
Executive, for himself or herself, his or her successors and assigns, executors and
administrators, now and forever hereby releases and discharges the Company, together with all
of its past and present parents, subsidiaries, and affiliates, together with each of their
officers, directors, stockholders, partners, employees, agents, representatives and attorneys,
and each of their subsidiaries, affiliates, estates, predecessors, successors, and assigns
(hereinafter collectively referred to as the “Releasees”) from any and all rights,
claims, charges, actions, causes of action, complaints, sums of money, suits, debts,
covenants, contracts, agreements, promises, obligations, damages, demands or liabilities of
every kind whatsoever, in law or in equity, whether known or unknown, suspected or
unsuspected, which Executive or Executive’s executors, administrators, successors or assigns
ever had, now has or may hereafter claim to have by reason of any matter, cause or thing
whatsoever; arising from the beginning of time up to the date of the Release: (i) relating in
any way to Executive’s employment relationship with the Company or any of the Releasees, or
the termination of Executive’s employment relationship with the Company or any of the
Releasees; (ii) arising under or relating to the Employment Agreement; (iii) arising under any
federal, local or state statute or regulation, including, without limitation, the Age
Discrimination in Employment Act of 1967, as amended by the Older Workers Benefit Protection
Act, Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990,
the Employee Retirement Income Security Act of 1974, and/or the applicable state law against
discrimination, each as amended; (iv) relating to wrongful employment termination or breach of
contract; or (v) arising under or relating to any policy, agreement, understanding or promise,
written or oral, formal or informal, between the Company and any of the Releasees and
Executive; provided, however, that notwithstanding the foregoing, nothing
contained in the Release shall in any way diminish or impair: (i) the Executive’s ability to
enforce the provisions of Section 9(d)(v) of the Employment Agreement, (ii) any direct or
indirect holdings of equity in CHS Inc.; (iii) any claims for accrued and vested benefits
under any of the Company’s employee retirement and welfare benefit plans; and (iv) any rights
or claims Executive may have that cannot be waived under applicable law; (collectively, the
“Excluded Claims”). Executive further acknowledges and agrees that, except with
respect to Excluded Claims, the Company and the Releasees have fully satisfied any and all
obligations whatsoever owed to Executive arising out of Executive’s employment with the
Company or any of the Releasees, and that no further payments or benefits are owed to
Executive by the Company or any of the Releasees.

	2.	 	Executive understands and agrees that, except for the Excluded Claims, Executive has
knowingly relinquished, waived and forever released any and all rights to any personal
recovery in any action or proceeding that may be commenced on Executive’s behalf arising out
of the aforesaid employment relationship or the termination thereof, including, without
limitation, claims for back pay, front pay, liquidated damages, compensatory damages, general
damages, special damages, punitive damages, exemplary damages, costs, expenses and attorneys’
fees.

	3.	 	Executive acknowledges and agrees that Executive has been advised to consult with an attorney
of Executive’s choosing prior to signing the Release. Executive understands and agrees that
Executive has the right and has been given the opportunity to review the Release with an
attorney of Executive’s choice should Executive so desire. Executive also agrees that
Executive has entered into the Release freely and voluntarily. Executive further acknowledges
and agrees that Executive has had at least forty-five (45) calendar days to consider the
Release, although Executive may sign it sooner if Executive wishes. In addition, once
Executive has signed the Release, Executive shall have seven (7) additional days from the date
of execution to revoke Executive’s consent and may do so by writing to: CHS Inc., 5500 Cenex
Drive, Inver Grove Heights, Minnesota 55077, Attention: General Counsel. The Release shall
not be effective, and no payments shall be due under the Employment Agreement, until the
eighth (8th) day after Executive shall have executed the Release and returned it to the
Company, assuming that Executive had not revoked Executive’s consent to the Release prior to
such date.

	4.	 	It is understood and agreed by Executive that the payment made to Executive is not to be
construed as an admission of any liability whatsoever on the part of the Company or any of the
other Releasees, by whom liability is expressly denied.

	5.	 	The Release is executed by Executive voluntarily and is not based upon any representations or
statements of any kind made by the Company or any of the other Releasees as to the merits,
legal liabilities or value of Executive’s claims. Executive further acknowledges that
Executive has had a full and reasonable opportunity to consider the Release and that Executive
has not been pressured or in any way coerced into executing the Release.

	6.	 	The exclusive venue for any disputes arising hereunder shall be the state or federal courts
located in the State of Minnesota, and each of the parties hereto irrevocably waives, to the
fullest extent permitted by law, any objection which it may now or hereafter have to the
laying of the venue of any such proceeding brought in such a court and any claim that any such
proceeding brought in such a court has been brought in an inconvenient forum. Each of the
parties hereto also agrees that any final and unappealable judgment against a party hereto in
connection with any action, suit or other proceeding may be enforced in any court of competent
jurisdiction, either within or outside of the United States. A certified or exemplified copy
of such award or judgment shall be conclusive evidence of the fact and amount of such award or
judgment.

	7.	 	The Release and the rights and obligations of the parties hereto shall be governed and
construed in accordance with the laws of the State of Minnesota. If any provision hereof is
unenforceable or is held to be unenforceable, such provision shall be fully severable, and
this document and its terms shall be construed and enforced as if such unenforceable provision
had never comprised a part hereof, the remaining provisions hereof shall remain in full force
and effect, and the court construing the provisions shall add as a part hereof a provision as
similar in terms and effect to such unenforceable provision as may be enforceable, in lieu of
the unenforceable provision.

	8.	 	The Release shall inure to the benefit of and be binding upon the Company and its successors
and assigns.

IN WITNESS WHEREOF, Executive and the Company have executed the Release as of the date and year
first written above.

CHS INC.

	 	 	 	 	 
	By:
	 	 	—	 
	Name:
	 	 	 	 
	Title:
	 	 	 	 

JAY DEBERTIN

      

3

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