ABENU Advanced Bioenergy LLC (CE)

On March 12, 2020, Advanced BioEnergy, LLC, (“ABE” or the “Company”) and Richard Peterson agreed that Mr. Peterson’s last day of employment would be March 13, 2020 and Mr. Peterson resigned from all positions with the Company, including Chief Executive Officer and Chief Financial Officer, effective as of that date. Mr. Peterson had previously resigned as an ABE director effective January 31, 2020. In connection with his resignation, the Company agreed to pay Mr. Peterson (i) $142,500 pursuant to the previously disclosed Stay Bonus Plan adopted by the Board and (ii) a lump sum payment of $28,800 for future health care coverage.

The Company and Mr. Peterson also entered into a consulting agreement under which Mr. Peterson agree to provide the Company with consulting service between March 14, 2020 and July 31, 2021, or such later date as the parties agreed, at a rate of $150.00 per hour, as an independent contractor, for any work reasonably requested by the Board of Directors with respect to (i) the liquidation of and winding up of the Company, including any matters related to the December 19, 2019 Asset Sale to Glacial Lakes Energy and the funds in escrow pursuant to the that asset sale including any real estate, environmental, contract or other matters, or any other government inquiry; and (ii) any filings or other disclosures required to be made with the United States Securities and Exchange Commission. Any hours in excess of ten hours a month must be expressly approved by the ABE Board. The consulting agreement also states that on July 31, 2021, or such later date as the parties agree, assuming continued cooperation by Mr Peterson under the consulting agreement, Mr. Peterson would receive a cash payment of $25,000. A copy of the consulting agreement is attached as Exhibit 10.1 and incorporated herein by reference.