Document:

Unassociated Document

EXHIBIT
10.22

AGREEMENT

NOW on
this the 24th day of March, 2003, comes Rite Way Oil & Gas Co., Inc., a
Nebraska corporation, hereinafter referred to as "Rite Way" and Husker Ag, LLC,
a Nebraska limited liability company, hereinafter referred to as
"Husker".

For the
consideration paid and to be paid for the transfer of Nebraska Ethanol
Production Tax Credits, Rite Way and Husker hereby agree as
follows:

	
      1.
	
      Husker
      may transfer up to $500,000.00 per month in ethanol production credits to
      Rite Way. This transfer shall take place by Husker's filing Nebraska
      Department of Revenue Form 92 (or its amendment or replacement) and
      declaring therein the amount of the credit which is to be transferred to
      Rite Way. The Nebraska Department of Revenue shall notify Rite Way of the
      amount of credit which has been transferred to Rite
Way.

 

	
      2.
	
      When
      Rite Way receives notification from the Nebraska Department of Revenue of
      the amount of credit granted, Rite Way shall then complete Nebraska Motor
      Vehicle Fuel Tax Return, Form 73 (or its amendment or replacement), and
      apply the amount of the transferred credit. Rite Way will then prepare to
      pay Husker the amount of the credit less [***].
      (The Credit Amount)

	
      3.
	
      Rite
      Way shall pay the credit amount determined in paragraph two (2), to Husker
      on or before the 25th day of each month. If the 25th day of the month
      falls on a state or nationally recognized holiday or weekend, payment
      shall be made by the next business day. Payment may be in the form of a
      valid company check, money order, cashier's check, or electronic funds
      transfer to the designated Husker account, as chosen by Husker. Continuing
      late payment (defined as more than three times in a calendar year) or any
      failure to pay for a period of ten (10) days beyond the due date, shall
      give Husker an immediate right of
cancellation.

	
      4.
	
      In
      the event that any credit against motor vehicle fuel tax which is
      transferred to Rite Way under the terms of this Agreement is rescinded by
      the State of Nebraska or if for any reason Rite Way is required to repay
      any of the motor vehicle fuel tax credits, then Husker shall immediately
      upon demand, reimburse Rite Way for the amount lost or repaid by Rite
      Way.

	
      5.
	
      Rite
      Way and Husker may increase the monthly amount
      above $500,000.00 by
      mutual agreement as evidenced by a written addendum to this
      Agreement.

	
      6.
	
      This
      agreement shall continue for the entire term of the 536 Credits received
      by Husker, which is expected to be approximately eight (8) years, provided
      that either party may cancel the same by giving written notice one year or
      more in advance of the stated cancellation
date.

 

_______

[***] --
Material has been omitted pursuant to a request for confidential treatment and
such material has been filed separately with the Securities and Exchange
Commission.

	
      7.
	
      All
      notices shall be served upon the parties by first class mail, certified
      and return receipt requested, at the following
  addresses:

 

	Rite Way Oil & Gas Co., Inc.	 	Husker Ag, LLC	 
	P.O. Box 27049	 	P.
      O. Box 10	 
	8400 "I" St.	 	Plainview, NE 68769	 
	
      Omaha,
      NE 68127
	 	 	 
	Attention: Brad Johnson	 	Attention: Gary Kuester	 
	Phone (402) 331-6449 ext. 104	 	(402) 582-4446	 

 

	Rite Way Oil & Gas Co., Inc.	 	 	Husker Ag, LLC
		 	 	 
	By:
      /s/ Rex E. Ekwall 	 	 	By: /s/
      Gary Kuester 
	
      

    	 	 	
      

    
	Title:  President
      	 	 	Title:
    ChairmanUnassociated Document

EXHIBIT
10.23

STATE
OF NEBRASKA

NEBRASKA
DEPARTMENT OF REVENUE

ETHANOL
PRODUCTION CREDIT AGREEMENT

This
agreement is entered into pursuant to NEB. REV. STAT. § 66-1344 and Laws 2001,
LB 536, Section 7, between Husker Ag Processing, LLC, hereinafter referred to as
"Husker Ag," and the State of Nebraska, by the State Tax Commissioner,
hereinafter referred to as "the State."

It is
hereby agreed between Husker Ag and the State that:

1. Husker Ag
is in the process of planning and constructing an ethanol production facility
and, upon completion of the anticipated construction, will own and control an
ethanol production facility located along Highway 20, three miles east of
Plainview, Nebraska.

2. Husker Ag
hereby agrees to produce ethanol at the facility and any expansion
thereof.

3. The State
agrees to furnish Husker Ag the tax credits as provided by and limited in NEB.
REV. STAT. § 66-1344 in effect on the date of the agreement. Credits in the
amount of eighteen cents per gross gallon of ethanol produced, before
denaturing, will be furnished following the procedures described below. The tax
credits furnished by the State shall be in the form of nonrefundable,
transferable motor vehicle fuel tax credit certificates.

4. The
name plate design capacity for the production of ethanol, before denaturing, at
this facility at the commencement of production will be twenty million
(20,000,000) gross gallons.

5. The
credits will be given only for ethanol produced at the ethanol production
facility identified above at which all fermentation, distillation and
dehydration take place.

6. Husker Ag
may begin to apply for credits once it attains a minimum rate of ethanol
production, before denaturing, of one hundred thousand (100,000) gross gallons
annually. This minimum rate of ethanol production must be accomplished prior to
June 30, 2004.

7. In order
to show that it can accurately measure the requisite minimum rate of production,
Husker Ag shall initially provide the State with documentation indicating that
the metering devices used to measure the minimum rate of production have been
approved by the State of Nebraska, Department of Agriculture, Division of
Weights and Measures. In order to show that it can accurately measure the
quantity of ethanol produced thereafter, Husker Ag shall provide the State with
documentation annually indicating that the metering devices used to measure the
production of ethanol have been approved by the State of Nebraska, Department of
Agriculture, Division of Weights and Measures.

8. The
initial application to receive credits filed by Husker Ag must establish that
the minimum rate of ethanol production required has been attained. The initial
application shall cover a period of one calendar month or any part thereof, but
in no event shall the period be less than one day. Once the minimum rate of
ethanol production has been established, Husker Ag can receive credits for a
period of ninety-six (96) consecutive months, but in no event can Husker Ag
apply for any credits for ethanol production which occurs after June 30, 2012.
The applications used to apply for credits following the initial application
shall be for periods measured by whole calendar months except that the last
application of the agreement may be for a partial calendar month.

Page
2

 

ETHANOL
PRODUCTION CREDIT AGREEMENT 

Husker Ag
Processing, LLC

 

9. Not more
than fifteen million six hundred twenty-five thousand (15,625,000) gross gallons
of ethanol produced annually at the ethanol production facility will be eligible
for the tax credits. Not more than one hundred twenty-five million (125,000,000)
gross gallons of ethanol produced at the ethanol facility by the end of the
ninety-six consecutive-month period described above shall be eligible for the
tax credits.

10. Husker Ag
must provide to the State copies of the reports filed with the Federal Bureau of
Alcohol, Tobacco and Firearms on an annual basis.

11. This
agreement may be amended to include any proposed expansion that is not
contemplated at the time of this agreement.

12. This
agreement shall not be assigned by Husker Ag without first receiving written
consent from the State. Such consent shall not be unreasonably withheld and, if
granted, shall be provided within thirty days of a written request for said
consent. If such consent is granted, a fully executed amendment to this
agreement reflecting the assignment shall be provided to the State no later than
ten days following the execution of the assignment.

13. This
agreement shall be binding between the parties hereto. It shall be governed by
the laws of the State of Nebraska. No oral statements, proposals, or agreements
shall be binding on either party.

The
undersigned parties hereto accept and bind themselves to the provisions of this
agreement.

 

	 	 	 
	 	Husker Ag Processing,
      LLC
	 
 	 
 	 
 
	Dated this 5th day of September,
      2001.	By:  	/s/ Gary
    Kuester 
	 	
      

    
	 	Gary Kuester
	 	Chairman/President

 

 

Page
3

 

ETHANOL
PRODUCTION CREDIT AGREEMENT 

Husker Ag
Processing, LLC

 

	 	 	 
	 	Husker Ag Processing,
      LLC
	 
 	 
 	 
 
	Dated this 5th day of September,
      2001.	By:  	/s/ Mary Jane Egr
  
	 	
      

    
	 	Mary Jane Egr
	 	State Tax
CommissionerExhibit
10.24

Husker
Ag, LLC

Director
Compensation Policy

The
Husker Ag, LLC Board of Directors has adopted a Board compensation policy,
pursuant to which directors are paid $200 per meeting, if the director is
present in person at the meeting through adjournment, otherwise the director is
paid $100 per meeting attended. Directors are paid $100 per committee meeting
attended in person and $50 per committee meeting attended via telephone
conference. Directors are also reimbursed at $0.405 per mile (as of January 1,
2005) for mileage reimbursement for travel to and from meetings.Exhibit
10.25

Husker
Ag, LLC

Named
Executive Officer Compensation

Allen H.
Sievertsen has been General Manager of the Husker Ag, LLC ("Company") ethanol
plant since August 10, 2001. On August 10, 2001, the Company entered into a
contract labor agreement with Mr. Sievertsen for $7,500 per month plus
reimbursement of expenses. On March 1, 2002, the Company converted Mr.
Sievertsen's position to a salaried position on substantially the same terms as
set forth in the contract labor agreement, and in connection with such
conversion, mutually agreed to terminate the contract labor agreement. As of
March 29, 2005, Mr. Sievertsen is compensated by the Company at a base salary,
on an annualized basis, of $110,000.

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