Certain Relationships between US BioEnergy Corporation and CHS Inc.US BioEnergy CORP • July 11th, 2007 • Industrial organic chemicals
On November 17, 2005, US BioEnergy Corporation (the “Company”) entered into a subscription agreement with CHS pursuant to which CHS purchased 8,750,000 shares of the Company’s common stock for an aggregate purchase price of $35.0 million. In connection with this purchase, the Company granted CHS the right to appoint directors to the Company’s Board of Directors, with the number of directors appointed by CHS based on a formula related to CHS’s percentage of beneficial ownership. For so long as CHS beneficially owns at least 15% but less than 25% of the Company’s outstanding common stock, CHS has the right to appoint one director and for so long as CHS beneficially owns at least 25% of the Company’s outstanding common stock, CHS has the right to appoint two directors to serve on the Company’s Board of Directors. As long as CHS beneficially owns at least 15% of the Company’s outstanding common stock, it also has the right to appoint one person to serve as a member on an executive manageme
LEASE AGREEMENTLease Agreement • July 11th, 2007 • US BioEnergy CORP • Industrial organic chemicals • Minnesota
This Lease Agreement (the “Lease”) is dated as of July 10, 2007, by and between CHS Inc., a Minnesota cooperative corporation (“Landlord”) and US Bio Energy Corporation (“Tenant”).
