Document:

Form of Affiliate Agreement

 Exhibit 10.4 
 RULE 145 AFFILIATE LETTER 
                     , 2009 
 REG Newco, Inc. 
 416 S. Bell Ave. 
 Ames, Iowa 50010 
 Dear Sir/Madam: 
 Reference is made to the terms of that certain Second Amended and Restated Agreement and Plan of Merger executed November 20, 2009 (the “Agreement”), by and among REG Newco,
Inc., a Delaware corporation (“Newco”), REG Danville, LLC, a Delaware limited liability company and wholly owned subsidiary of Parent (“MergerLLC”), Blackhawk Biofuels, LLC, a Delaware limited
liability company (the “Company”), and Renewable Energy Group, Inc., a Delaware corporation (“REG”), pursuant to which MergerLLC will merge with and into the Company and the units of Company membership
interests shall be converted to into the right to receive shares of Newco’s common stock, par value $0.0001 per share (“Newco Common Stock”) and shares of Newco preferred stock, par value $0.0001 per share,
(“Newco Preferred Stock”), on the Closing Date (the “Transaction”). Terms used but not defined in this letter shall have the meanings ascribed to such terms in the Agreement. 
 I understand that I may be deemed to be an “affiliate” of Company, as such term is defined for purposes of paragraphs (c) and
(d) of Rule 145 (“Rule 145”) promulgated under the Securities Act of 1933, as amended (including the rules and regulations promulgated thereunder, the “Act”). 
 If in fact I were to be deemed an “affiliate” of Company under paragraphs (c) and (d) of Rule 145, my ability to sell,
transfer or otherwise dispose of any shares of Newco Common Stock and Newco Preferred Stock received by me pursuant to the Transaction may be restricted under current law. 
 I hereby represent, warrant and covenant to Newco that: 
 I will not sell, pledge, transfer or otherwise dispose of any Newco Common Stock or Newco Preferred Stock unless (i) such sale, pledge, transfer or other disposition has been registered under the
Act, (ii) such sale, transfer or other disposition is made in conformity with the provisions of Rule 145 under the Act (as such rule may be amended from time to time), or (iii) in the opinion of counsel in form and substance reasonably
satisfactory to Newco, or under a “no-action” letter obtained by me from the staff of the Securities and Exchange Commission (the “SEC”), (a) such sale, pledge, transfer or other disposition will not violate or
is otherwise exempt from registration under the Act and (b) such sale, pledge, transfer or other disposition otherwise complies with all applicable laws; 
  

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 I hereby acknowledge that Newco is under no obligation to register the sale, transfer, pledge or other
disposition by me of Newco Common Stock or Newco Preferred Stock or to take any other action necessary for the purpose of making an exemption from registration available except as may be provided in that certain Registration Rights Agreement dated
the Closing Date among Newco and its shareholders. 
 I understand that Newco will issue stop transfer instructions to its transfer agent
with respect to Newco Common Stock and Newco Preferred Stock to be received in the Transaction and that a restrictive legend will be placed on certificates delivered to me evidencing such Newco Common Stock and Newco Preferred Stock in substantially
the following form: 
 “This certificate and the shares represented hereby have been issued pursuant to a transaction governed by Rule
145 (“Rule 145”) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), and may be sold or otherwise disposed of only in accordance with the terms of a letter agreement, dated
                    , 2009, between the holder of this certificate and the issuer of this security (a copy of which is on file in the
principal office of such issuer) which contains further restrictions on the transferability of the shares represented hereby.” 
 It is
understood and agreed that the legend set forth above will be removed by delivery of substitute certificates without such legend if such legend is not required for purposes of the Act. It is understood and agreed that such legends and the stop
orders referred to above will be removed if (i) the securities have been sold in conformity with the provisions of Rule 145 under the Act, (ii) Newco Common Stock or Newco Preferred Stock received by me in the Transaction are registered
for sale by me under the Act or (iii) Newco has received either an opinion of counsel in form and substance reasonably satisfactory to Newco, or a “no-action” letter obtained by me from the staff of the SEC, to the effect that the
restrictions imposed by Rule 145 under the Act no longer apply to me. 
 The term “Newco Common Stock” and “Newco Preferred
Stock” as used in this letter shall mean and include not only the common stock and preferred stock of Newco as presently constituted, but also any other stock which may be issued in exchange for, in lieu of, or in addition to, all or any part
of such Newco Common Stock or Newco Preferred Stock. 
 I hereby acknowledge that I have read this letter and the Agreement and discussed the
requirements of such documents and other applicable limitations upon my ability to sell, transfer or otherwise dispose of shares of Newco Common Stock and Newco Preferred Stock to the extent I felt necessary with my counsel. 
  

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 This letter will be governed by the laws of Iowa regardless of any applicable principles of conflict of
laws. This letter will be binding upon the undersigned and Newco and their respective successors and assigns. This letter is the complete agreement between the undersigned and Newco concerning the subject matter hereof. If the Agreement is
terminated in accordance with its terms prior to the Closing Date, then the legal effect of this letter will thereupon automatically terminate. 
 Execution of this letter shall not be construed as an admission on my part of “affiliate” status nor as a waiver of any rights that I may have to object to any claim that I am an “affiliate” on or after the date of this
letter. 
  

	
	Very truly yours,
	
	  

	Name:

  

			
	Agreed to and accepted as of the
	date first written above:
	
	REG Newco, Inc.
		
	By:	 	  

		 	Name:
		 	Title:

  

 3Form of Indemnification Agreement

 Exhibit 10.13 
 INDEMNIFICATION AGREEMENT 
 This Indemnification
Agreement (the “Agreement”), is dated as of _____________________, 2009 between REG Newco, Inc., a Delaware corporation (the “Corporation”), and _____________ (“Indemnitee”). 
 W I T N E S S E T H: 
 WHEREAS, Indemnitee is either a member of the board of directors of the Corporation (the “Board of Directors”), a member of the Board of Managers of a wholly-owned subsidiary of the Corporation, an officer of the Corporation or an
officer of a wholly-owned subsidiary of the Corporation, or one or more of such positions, and in such capacity or capacities, or otherwise as an Agent (as hereinafter defined) of the Corporation, is performing a valuable service for the
Corporation; and 
 WHEREAS, the Corporation is aware that competent and experienced persons are increasingly reluctant to serve
as directors or officers of corporations or other business entities unless they are protected by comprehensive indemnification and liability insurance, due to increased exposure to litigation costs and risks resulting from their service to such
entities, and because the exposure frequently bears no reasonable relationship to the compensation of such directors and officers; and 
 WHEREAS, the Board of Directors of the Corporation has concluded that, to retain and attract talented and experienced individuals to serve or continue to serve as officers, directors or managers of the Corporation or its subsidiaries, and
to encourage such individuals to take the business risks necessary for the success of the Corporation, it is necessary for the Corporation contractually to indemnify directors and officers and to assume for itself to the fullest extent permitted by
law expenses and damages in connection with claims against such officers, directors or managers in connection with their service to the Corporation; and 
 WHEREAS, Section 145 of the General Corporation Law of Delaware, under which the Corporation is organized (the “DGCL”), empowers the Corporation to indemnify by agreement its officers,
directors, employees and agents, and persons who serve, at the request of the Corporation, as directors, officers, employees or agents of other corporations or enterprises, and expressly provides that the indemnification provided by the DGCL is not
exclusive; and 
 WHEREAS, the Corporation desires and has requested the Indemnitee to serve or continue to serve as a director,
officer or agent of the Corporation or one or more of its subsidiaries free from undue concern for claims for damages arising out of or related to such services to the Corporation; and 
 WHEREAS, Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Corporation on the
condition that he or she be indemnified as herein provided; and 
 WHEREAS, it is intended that Indemnitee shall be paid
promptly by the Corporation all amounts necessary to effectuate in full the indemnity provided herein. 

 NOW, THEREFORE, in consideration of the premises and the covenants in this Agreement, and of
Indemnitee serving or continuing to serve the Corporation or one or more of its subsidiaries as an Agent and intending to be legally bound hereby, the parties hereto agree as follows: 
 1. Services by Indemnitee. Indemnitee agrees to serve or continue to serve (a) as a director or an officer of the Corporation,
or as a manager, director or employee of a wholly-owned subsidiary of the Corporation, or one or more of such positions, so long as Indemnitee is duly appointed or elected and qualified in accordance with the applicable provisions of the Certificate
of Incorporation and bylaws of the Corporation, and until such time as Indemnitee resigns or fails to stand for election or is removed from Indemnitee’s position, or (b) otherwise as an Agent of the Corporation. Indemnitee may from time to
time also perform other services at the request or for the convenience of, or otherwise benefiting the Corporation or one or more of its subsidiaries. Indemnitee may at any time and for any reason resign or be removed from such position (subject to
any other contractual obligation or other obligation imposed by operation of law), in which event the Corporation shall have no obligation under this Agreement to continue Indemnitee in any such position. 
 2. Indemnification of Indemnitee. Subject to the limitations set forth herein and particularly in Section 6 hereof, the
Corporation hereby agrees to indemnify Indemnitee as follows: 
  

	 	(a)	The Corporation shall, with respect to any Proceeding (as hereinafter defined) associated with Indemnitee’s being an Agent of the Corporation, indemnify Indemnitee
to the fullest extent permitted by applicable law or as such law may from time to time be amended (but, in the case of any such amendment, only to the extent such amendment permits the Corporation to provide broader indemnification rights than the
law permitted the Corporation to provide before such amendment). The right to indemnification conferred herein shall be presumed to have been relied upon by Indemnitee in serving or continuing to serve the Corporation as an Agent and shall be
enforceable as a contract right. Without in any way diminishing the scope of the indemnification provided by this Section 2(a), the rights of indemnification of Indemnitee shall include but shall not be limited to those rights hereinafter set
forth. 

  

	 	(b)	The Corporation shall indemnify Indemnitee if Indemnitee is or was a party or is threatened to be made a party to any threatened, pending or completed Proceeding (other
than an action by or in the right of the Corporation) by reason of the fact that Indemnitee is or was an Agent of the Corporation, or any subsidiary of the Corporation, or by reason of the fact that Indemnitee is or was serving at the request of the
Corporation as an Agent of another corporation, partnership, joint venture, trust or other enterprise, against Expenses (as hereinafter defined) or Liabilities (as hereinafter defined), actually and reasonably incurred by Indemnitee in connection
with such Proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action or proceeding, had no reasonable cause
to believe Indemnitee’s conduct was unlawful. 

  

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	 	(c)	The Corporation shall indemnify Indemnitee if Indemnitee was or is a party or is threatened to be made a party to any threatened, pending or completed Proceeding by or
in the right of the Corporation or any subsidiary of the Corporation to procure a judgment in its favor by reason of the fact that Indemnitee is or was an Agent of the Corporation, or any subsidiary of the Corporation, or by reason of the fact that
Indemnitee is or was serving at the request of the Corporation as an Agent of another corporation, partnership, joint venture, trust or other enterprise, against Expenses and, to the fullest extent permitted by law, Liabilities if Indemnitee acted
in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, except that no indemnification shall be made in respect of any claim, issue or matter as to which Indemnitee shall have
been adjudged to be liable to the Corporation unless and only to the extent that the Court of Chancery of the State of Delaware or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of
liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery of the State of Delaware or such other court shall deem proper.

 3. Advancement of Expenses. All reasonable Expenses incurred by or on behalf of Indemnitee (including
costs of enforcement of this Agreement) shall be advanced from time to time by the Corporation to Indemnitee within thirty (30) days after the receipt by the Corporation of a written request for an advance of Expenses, whether prior to or after
final disposition of a Proceeding (except to the extent that there has been a Final Adverse Determination (as hereinafter defined) that Indemnitee is not entitled to be indemnified for such Expenses), including without limitation any Proceeding
brought by or in the right of the Corporation. The written request for an advancement of any and all Expenses under this paragraph shall contain reasonable detail of the Expenses incurred by Indemnitee. In the event that such written request shall
be accompanied by an affidavit of counsel to Indemnitee to the effect that such counsel has reviewed such Expenses and that such Expenses are reasonable in such counsel’s view, then such expenses shall be deemed reasonable in the absence of
clear and convincing evidence to the contrary. By execution of this Agreement, Indemnitee shall be deemed to have made whatever undertaking as may be required by law at the time of any advancement of Expenses with respect to repayment to the
Corporation of such Expenses. In the event that the Corporation shall breach its obligation to advance Expenses under this Section 3, the parties hereto agree that Indemnitee’s remedies available at law would not be adequate and that
Indemnitee would be entitled to specific performance. 
 4. Presumptions and Effect of Certain Proceedings. Upon making a
request for indemnification, Indemnitee shall be presumed to be entitled to indemnification under this Agreement and the Corporation shall have the burden of proof to overcome that presumption in reaching any contrary determination. The termination
of any Proceeding by judgment, order, settlement, arbitration award or conviction, or upon a plea of nolo contendere or its equivalent shall not affect this presumption or, except as determined by a judgment or other final adjudication adverse to
Indemnitee, establish a presumption with regard to any factual matter relevant to determining Indemnitee’s rights to indemnification hereunder. If the person or persons so empowered to make a determination pursuant to Section 5 hereof
shall have failed to

  

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make the requested determination within sixty (60) days after any judgment, order, settlement, dismissal, arbitration award, conviction, acceptance of a plea of nolo contendere or its
equivalent, or other disposition or partial disposition of any Proceeding or any other event that could enable the Corporation to determine Indemnitee’s entitlement to indemnification, the requisite determination that Indemnitee is entitled to
indemnification shall be deemed to have been made. 
 5. Procedure for Determination of Entitlement to Indemnification.

  

	 	(a)	Whenever Indemnitee believes that Indemnitee is entitled to indemnification pursuant to this Agreement, Indemnitee shall submit a written request for indemnification to
the Corporation. Any request for indemnification shall include sufficient documentation or information reasonably available to Indemnitee for the determination of entitlement to indemnification. In any event, Indemnitee shall submit
Indemnitee’s claim for indemnification within a reasonable time, not to exceed five (5) years after any judgment, order, settlement, dismissal, arbitration award, conviction, acceptance of a plea of nolo contendere or its equivalent, or
final determination, whichever is the later date for which Indemnitee requests indemnification. The Secretary or other appropriate officer shall, promptly upon receipt of Indemnitee’s request for indemnification, advise the Board of Directors
in writing that Indemnitee has made such request. Determination of Indemnitee’s entitlement to indemnification shall be made not later than sixty (60) days after the Corporation’s receipt of Indemnitee’s written request for such
indemnification, provided that any request for indemnification for Liabilities, other than amounts paid in settlement, shall have been made after a determination thereof in a Proceeding. If it is so determined that the Indemnitee is entitled to
indemnification, payment to the Indemnitee shall be made within ten (10) days after such determination. 

  

	 	(b)	The Corporation shall be entitled to select the forum in which Indemnitee’s entitlement to indemnification will be heard; provided, however, that if there is a
Change in Control of the Corporation, Independent Legal Counsel (as hereinafter defined) shall determine whether Indemnitee is entitled to indemnification. The forum shall be any one of the following: 

  

	 	(i)	a majority vote of Disinterested Directors (as hereinafter defined), even though less than a quorum; 

  

	 	(ii)	by a committee of Disinterested Directors designated by majority vote of Disinterested Directors, even though less than a quorum; 

  

	 	(iii)	Independent Legal Counsel, whose determination shall be made in a written opinion; or 

  

	 	(iv)	The stockholders of the Corporation. 

  

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 6. Specific Limitations on Indemnification. Notwithstanding anything in this
Agreement to the contrary, the Corporation shall not be obligated under this Agreement to make any payment to Indemnitee with respect to any Proceeding: 
  

	 	(a)	To the extent that payment is actually made to Indemnitee under any insurance policy, or is made to Indemnitee by the Corporation or an affiliate otherwise than
pursuant to this Agreement. Notwithstanding the availability of such insurance, Indemnitee also may claim indemnification from the Corporation pursuant to this Agreement by assigning to the Corporation any claims under such insurance to the extent
Indemnitee is paid by the Corporation; 

  

	 	(b)	Provided there has been no Change in Control, for Liabilities in connection with Proceedings settled without the Corporation’s consent, which consent, however,
shall not be unreasonably withheld; 

  

	 	(c)	For an accounting of profits made from the purchase or sale by Indemnitee of securities of the Corporation within the meaning of Section 16(b) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or similar provisions of any state statutory or common law; 

  

	 	(d)	To the extent it would be otherwise prohibited by law, if so established by a judgment or other final adjudication adverse to Indemnitee; or 

 

	 	(e)	In connection with a Proceeding commenced by Indemnitee (other than a Proceeding commenced by Indemnitee to enforce Indemnitee’s rights under this Agreement)
unless the commencement of such Proceeding was authorized by the Board of Directors. 

 7. Fees and Expenses of
Independent Legal Counsel or Arbitrators. The Corporation agrees to pay the reasonable fees and expenses of Independent Legal Counsel should such Independent Legal Counsel be retained to make a determination of Indemnitee’s entitlement to
indemnification pursuant to Section 5(b) of this Agreement, and to fully indemnify such Independent Legal Counsel against any and all expenses and losses incurred by any of them arising out of or relating to this Agreement or their engagement
pursuant hereto. 
 8. Remedies of Indemnitee. 
  

	 	(a)	 In the event that (i) a determination pursuant to Section 5 hereof is made that Indemnitee is not entitled to indemnification,
(ii) advances of Expenses are not made pursuant to this Agreement, (iii) payment has not been timely made following a determination of entitlement to indemnification pursuant to this Agreement, or (iv) Indemnitee otherwise seeks
enforcement of this Agreement, Indemnitee shall be entitled to a final adjudication in the Court of Chancery of the State of Delaware of the remedy sought. Alternatively, unless court approval is required by law for the indemnification sought by
Indemnitee, Indemnitee at Indemnitee’s option may seek an award in arbitration to be conducted by a single arbitrator pursuant to the commercial arbitration rules of the American Arbitration Association now in effect, which award is to be made
within ninety (90) days

  

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following the filing of the demand for arbitration. The Corporation shall not oppose Indemnitee’s right to seek any such adjudication or arbitration award. In any such proceeding or
arbitration Indemnitee shall be presumed to be entitled to indemnification and advancement of Expenses under this Agreement and the Corporation shall have the burden of proof to overcome that presumption. 

  

	 	(b)	In the event that a determination that Indemnitee is not entitled to indemnification, in whole or in part, has been made pursuant to Section 5 hereof, the decision
in the judicial proceeding or arbitration provided in paragraph (a) of this Section 8 shall be made de novo and Indemnitee shall not be prejudiced by reason of a determination that Indemnitee is not entitled to indemnification.

  

	 	(c)	If a determination that Indemnitee is entitled to indemnification has been made pursuant to Section 5 hereof, or is deemed to have been made pursuant to
Section 4 hereof or otherwise pursuant to the terms of this Agreement, the Corporation shall be bound by such determination. 

  

	 	(d)	The Corporation shall be precluded from asserting that the procedures and presumptions of this Agreement are not valid, binding and enforceable. The Corporation shall
stipulate in any such court or before any such arbitrator that the Corporation is bound by all the provisions of this Agreement and is precluded from making any assertion to the contrary. 

  

	 	(e)	Expenses reasonably incurred by Indemnitee in connection with Indemnitee’s request for indemnification under, seeking enforcement of or to recover damages for
breach of this Agreement shall be borne by the Corporation when and as incurred by Indemnitee irrespective of any Final Adverse Determination that Indemnitee is not entitled to indemnification. 

 9. Contribution. To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is
unavailable to Indemnitee for any reason whatsoever, the Corporation, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in
settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect
(i) the relative benefits received by the Corporation and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Corporation (and its directors, officers,
employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 
 10. Maintenance of
Insurance. The Corporation represents that it presently has in place certain directors’ and officers’ liability insurance policies covering the directors and officers of the Corporation and the directors, managers and officers of the
wholly-owned subsidiaries of the Corporation. Subject only to the provisions within this Section 10, the Corporation agrees that so long as Indemnitee shall have consented to serve or shall continue to serve as a director or officer of the
Corporation as a director, manager or officer of a wholly-owned subsidiary of the Corporation, or one or more of such positions, or as an Agent of the

  

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Corporation, and thereafter so long as Indemnitee shall be subject to any possible Proceeding (such periods being hereinafter sometimes referred to as the “Indemnification Period”), the
Corporation will use all reasonable efforts to maintain in effect for the benefit of Indemnitee one or more valid, binding and enforceable policies of directors’ and officers’ liability insurance from established and reputable insurers,
providing, in all respects, coverage both in scope and amount which is no less favorable than that presently provided or, following the Corporation’s initial public offering, than that provided as of the time of such initial public offering.
Notwithstanding the foregoing, the Corporation shall not be required to maintain said policies of directors’ and officers’ liability insurance during any time period if during such period such insurance is not reasonably available or if it
is determined in good faith by the then directors of the Corporation either that: 
  

	 	(a)	The premium cost of maintaining such insurance is substantially disproportionate to the amount of coverage provided thereunder; or 

  

	 	(b)	The protection provided by such insurance is so limited by exclusions, deductions or otherwise that there is insufficient benefit to warrant the cost of maintaining
such insurance. 

 Anything in this Agreement to the contrary notwithstanding, to the extent that and for so long
as the Corporation shall choose to continue to maintain any policies of directors’ and officers’ liability insurance during the Indemnification Period, the Corporation shall maintain similar and equivalent insurance for the benefit of
Indemnitee during the Indemnification Period (unless such insurance shall be less favorable to Indemnitee than the Corporation’s existing policies). 
 11. Modification, Waiver, Termination and Cancellation. No supplement, modification, termination, cancellation or amendment of this Agreement shall be binding unless executed in writing by both of
the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar), nor shall such waiver constitute a continuing waiver. 
 12. Subrogation. In the event of payment under this Agreement, the Corporation shall be subrogated to the extent of such payment to
all of the rights of recovery of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable the Corporation effectively to
bring suit to enforce such rights. 
 13. Notice by Indemnitee and Defense of Claim. Indemnitee shall promptly notify the
Corporation in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any matter, whether civil, criminal, administrative or investigative, but the omission so to notify the
Corporation will not relieve it from any liability that it may have to Indemnitee if such omission does not prejudice the Corporation’s rights. If such omission does prejudice the Corporation’s rights, the Corporation will be relieved from
liability only to the extent of such prejudice. Notwithstanding the foregoing, such omission will not relieve the Corporation from any liability that it may have to Indemnitee otherwise than under this Agreement. With respect to any Proceeding as to
which Indemnitee notifies the Corporation of the commencement thereof: 
  

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	 	(a)	The Corporation will be entitled to participate therein at its own expense; and 

  

	 	(b)	The Corporation jointly with any other indemnifying party similarly notified will be entitled to assume the defense thereof, with counsel reasonably satisfactory to
Indemnitee; provided, however, that the Corporation shall not be entitled to assume the defense of any Proceeding if there has been a Change in Control or if Indemnitee shall have reasonably concluded that there may be a conflict of interest between
the Corporation and Indemnitee with respect to such Proceeding. After notice from the Corporation to Indemnitee of its election to assume the defense thereof, the Corporation will not be liable to Indemnitee under this Agreement for any Expenses
subsequently incurred by Indemnitee in connection with the defense thereof, other than reasonable costs of investigation or as otherwise provided below. Indemnitee shall have the right to employ Indemnitee’s own counsel in such Proceeding, but
the fees and expenses of such counsel incurred after notice from the Corporation of its assumption of the defense thereof shall be at the expense of Indemnitee unless: 

  

	 	(i)	the employment of counsel by Indemnitee has been authorized by the Corporation; 

  

	 	(ii)	Indemnitee shall have reasonably concluded that counsel engaged by the Corporation may not adequately represent Indemnitee due to, among other things, actual or
potential differing interests; or 

  

	 	(iii)	The Corporation shall not in fact have employed counsel to assume the defense in such Proceeding or shall not in fact have assumed such defense and be acting in
connection therewith with reasonable diligence; in each of which cases the fees and expenses of such counsel shall be at the expense of the Corporation. 

  

	 	(c)	The Corporation shall not settle any Proceeding in any manner that would impose any penalty or limitation on Indemnitee without Indemnitee’s written consent;
provided, however, that Indemnitee will not unreasonably withhold his or her consent to any proposed settlement. 

 14. Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other
communication shall have been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed: 
  

							
	 (a)    If to Indemnitee, to:
	  	 	  		  	
				
		  	 	  		  	
				
		  	 	  		  	
				
		  	 	  		  	

  

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	 (b)    If to the Corporation, to:
	  	 REG Newco, Inc.
 Attn:  Secretary
 PO Box 888
 416 South Bell Avenue
 Ames, IA 50010
	  		  	

 or to such other address as may have been furnished to Indemnitee by the Corporation or to the
Corporation by Indemnitee, as the case may be. 
 15. Nonexclusivity. The rights of Indemnitee hereunder shall not be
deemed exclusive of any other rights to which Indemnitee may be entitled under applicable law, the Corporation’s Certificate of Incorporation or bylaws, or any agreements, vote of stockholders, resolution of the Board of Directors or otherwise,
and to the extent that during the Indemnification Period the rights of the then existing directors and officers are more favorable to such directors or officers than the rights currently provided to Indemnitee thereunder or under this Agreement,
Indemnitee shall be entitled to the full benefits of such more favorable rights. 
 [The Corporation acknowledges that
Indemnitee has certain rights to indemnification and advancement of expenses provided by [insert name of entity, which has the right to appoint Indemnitee to Corporation’s Board of Directors] and certain affiliates thereof (collectively, the
“Secondary Indemnitors”). The Corporation agrees that, as between the Corporation and the Secondary Indemnitors, the Corporation is primarily responsible for amounts required to be indemnified or advanced under the Corporation’s
certificate of incorporation or bylaws or this Agreement and any obligation of the Secondary Indemnitors to provide indemnification or advancement for the same amounts is secondary to those Corporation obligations. The Corporation waives any right
of contribution or subrogation against the Secondary Indemnitors with respect to the liabilities for which the Corporation is primarily responsible under this Section 15. In the event of any payment by the Secondary Indemnitors of amounts
otherwise required to be indemnified or advanced by the Corporation under the Corporation’s certificate of incorporation or bylaws or this Agreement, the Secondary Indemnitors shall be subrogated to the extent of such payment to all of the
rights of recovery of Indemnitee for indemnification or advancement of expenses under the Corporation’s certificate of incorporation or bylaws or this Agreement or, to the extent such subrogation is unavailable and contribution is found to be
the applicable remedy, shall have a right of contribution with respect to the amounts paid. The Secondary Indemnitors are express third-party beneficiaries of the terms of this Section 15.] 
 Notwithstanding any other provision of this Agreement to the contrary, (i) Indemnitee shall have no obligation to reduce, offset,
allocate, pursue or apportion any indemnification, hold harmless, exoneration, advancement, contribution or insurance coverage among multiple parties possessing such duties to Indemnitee prior to the Corporation’s satisfaction and performance
of all its obligations under this Agreement, and (ii) the Corporation shall perform fully its obligations under this Agreement without regard to whether Indemnitee holds, may pursue or has pursued any indemnification, advancement, hold
harmless, exoneration, contribution or insurance coverage rights against any person or entity other than the Corporation. 
  

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 16. Certain Definitions. 
  

	 	(a)	“Agent” shall mean any person who is or was, or who has consented to serve as, a director, officer, employee, agent, fiduciary, joint venturer,
partner, manager or other official of the Corporation or a subsidiary or an affiliate of the Corporation, or any other entity (including without limitation, an employee benefit plan) either at the request of, for the convenience of, or otherwise to
benefit the Corporation or a subsidiary of the Corporation. Any person who is or was serving as a manager, director, officer, employee or agent of a subsidiary of the Corporation shall be deemed to be serving, or have served, at the request of the
Corporation. 

  

	 	(b)	“Change in Control” shall mean the occurrence, after the Corporation’s initial public offering, of any of the following: 

 

	 	(i)	Both (A) any “person” (as defined below) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of securities of the Corporation representing at least twenty percent (20%) of the total voting power represented by the Corporation’s then outstanding voting securities and (B) the beneficial ownership by such person of
securities representing such percentage is not approved by a majority of the “continuing directors” (as defined below); 

  

	 	(ii)	Any “person” is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the
Corporation representing at least fifty percent (50%) of the total voting power represented by the Corporation’s then outstanding voting securities; 

  

	 	(iii)	A change in the composition of the Board of Directors occurs, as a result of which fewer than two-thirds of the incumbent directors are directors who either
(A) had been directors of the Corporation on the “look-back date” (as defined below) (the “Original Directors”) or (B) were elected, or nominated for election, to the Board of Directors with the affirmative votes of at
least a majority in the aggregate of the Original Directors who were still in office at the time of the election or nomination and directors whose election or nomination was previously so approved (the “continuing directors”);

  

	 	(iv)	The stockholders of the Corporation approve a merger or consolidation of the Corporation with any other corporation, if such merger or consolidation would result in the
voting securities of the Corporation outstanding immediately prior thereto representing (either by remaining outstanding or by being converted into voting securities of the surviving entity) 50% or less of the total voting power represented by the
voting securities of the Corporation or such surviving entity outstanding immediately after such merger or consolidation; or 

  

	 	(v)	The stockholders of the Corporation approve (A) a plan of complete liquidation of the Corporation or (B) an agreement for the sale or disposition by the
Corporation of all or substantially all of the Corporation’s assets. 

  

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 For purposes of Subsections (i) and (ii) above, the term “person” shall
have the same meaning as when used in Sections 13(d) and 14(d) of the Exchange Act, but shall exclude (x) a trustee or other fiduciary holding securities under an employee benefit plan of the Corporation or of a parent or subsidiary of the
Corporation or (y) a corporation owned directly or indirectly by the stockholders of the Corporation in substantially the same proportions as their ownership of the common stock of the Corporation. 
 For purposes of Subsection (iii) above, the term “look-back date” shall mean the later of (x) the date first written
above in the preamble to this Agreement or (y) the date 24 months prior to the date of the event that may constitute a “Change in Control.” 
 Any other provision of this Section 16(b) notwithstanding, the term “Change in Control” shall not include a transaction, if undertaken at the election of the Corporation, the result of
which is to sell all or substantially all of the assets of the Corporation to another corporation (the “surviving corporation”); provided that the surviving corporation is owned directly or indirectly by the stockholders of the Corporation
immediately following such transaction in substantially the same proportions as their ownership of the Corporation’s common stock immediately preceding such transaction; and provided, further, that the surviving corporation expressly assumes
this Agreement. 
  

	 	(c)	“Disinterested Director” shall mean a director of the Corporation who is not or was not a party to the Proceeding in respect of which indemnification
is being sought by Indemnitee. 

  

	 	(d)	“Expenses” shall include all direct and indirect costs (including, without limitation, attorneys’ fees, retainers, court costs, transcripts, fees
of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, all other disbursements or out-of-pocket expenses and reasonable compensation for time spent by Indemnitee
for which Indemnitee is otherwise not compensated by the Corporation or any third party) actually and reasonably incurred in connection with either the investigation, defense, settlement or appeal of a Proceeding or establishing or enforcing a right
to indemnification under this Agreement, applicable law or otherwise; provided, however, that “Expenses” shall not include any Liabilities. 

  

	 	(e)	“Final Adverse Determination” shall mean that a determination that Indemnitee is not entitled to indemnification shall have been made pursuant to
Section 5 hereof and either (1) a final adjudication in the Court of Chancery of the State of Delaware or decision of an arbitrator pursuant to Section 8(a) hereof shall have denied Indemnitee’s right to indemnification
hereunder, or (2) Indemnitee shall have failed to file a complaint in a Delaware court or seek an arbitrator’s award pursuant to Section 8(a) for a period of one hundred twenty (120) days after the determination made pursuant to
Section 5 hereof. 

  

	 	(f)	 “Independent Legal Counsel” shall mean a law firm or a member of a firm selected by the Corporation and approved by Indemnitee (which
approval shall not be unreasonably withheld) or, if there has been a Change in Control, selected by Indemnitee and approved by the Corporation (which approval shall not be

  

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unreasonably withheld), that neither is presently nor in the past five (5) years has been retained to represent: (i) the Corporation or any of its subsidiaries or affiliates, or
Indemnitee or any corporation of which Indemnitee was or is a director, officer, employee or agent, or any subsidiary or affiliate of such a corporation, in any material matter, or (ii) any other party to the Proceeding giving rise to a claim
for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Legal Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest
in representing either the Corporation or Indemnitee in an action to determine Indemnitee’s right to indemnification under this Agreement. 

  

	 	(g)	“Liabilities” shall mean liabilities of any type whatsoever including, but not limited to, any judgments, fines, ERISA excise taxes and penalties,
penalties and amounts paid in settlement (including all interest assessments and other charges paid or payable in connection with or in respect of such judgments, fines, penalties or amounts paid in settlement) of any Proceeding.

  

	 	(h)	“Proceeding” shall mean any threatened, pending or completed action, claim, suit, arbitration, alternate dispute resolution mechanism, investigation,
administrative hearing or any other proceeding whether civil, criminal, administrative or investigative, that is associated with Indemnitee’s being an Agent of the Corporation. 

 17. Binding Effect; Duration and Scope of Agreement. This Agreement shall be binding upon the parties hereto and their respective
successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Corporation), spouses, heirs and personal and legal representatives. This
Agreement shall be deemed to be effective as of the commencement date of the Indemnitee’s service as an officer or director of the Corporation and shall continue in effect during the Indemnification Period, regardless of whether Indemnitee
continues to serve as an Agent. 
 18. Severability. If any provision or provisions of this Agreement (or any portion
thereof) shall be held to be invalid, illegal or unenforceable for any reason whatsoever: 
  

	 	(a)	the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired thereby; and

  

	 	(b)	to the fullest extent legally possible, the provisions of this Agreement shall be construed so as to give effect to the intent of any provision held invalid, illegal or
unenforceable. 

 19. Governing Law. This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Delaware, as applied to contracts between Delaware residents entered into and to be performed entirely within the State of Delaware, without regard to conflict of laws rules. 
  

 - 12 - 

 20. Consent to Jurisdiction. The Corporation and Indemnitee each irrevocably consent
to the jurisdiction of the courts of the State of Delaware for all purposes in connection with any action or proceeding that arises out of or relates to this Agreement and agree that any action instituted under this Agreement shall be brought only
in the state courts of the State of Delaware. 
 21. Entire Agreement. This Agreement represents the entire agreement
between the parties hereto, and there are no other agreements, contracts or understandings between the parties hereto with respect to the subject matter of this Agreement, except as specifically referred to herein or as provided in Section 15
hereof. 
 22. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all
purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. 
 IN WITNESS
WHEREOF, the Corporation has caused this Agreement to be executed by a duly authorized officer and Indemnitee has executed this Agreement as of the date first above written. 
  

									
	 REG NEWCO, INC.,
 a
Delaware corporation
	 		 	INDEMNITEE
				
	By 	 	 	 		 	 
					
	Its 	 	 	 		 		 	

  
  
  

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