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EXHIBIT 10.3
AMENDMENT TO
JOINT VENTURE AGREEMENT
THIS AMENDMENT TO JOINT VENTURE AGREEMENT
(the "Amendment") is effective as of the 30th day of
August, 2006, by and between Ethanex Energy North America, Inc.
("Ethanex"), and SEMO Milling, LLC ("SEMO").
RECITALS
A. Ethanex and SEMO
entered into that certain Joint Venture Agreement dated August 4,
2006 (the "JV Agreement") pertaining to the formation and
management of a joint venture company, Ethanex at SEMO Port,
LLC.
B. Ethanex and SEMO desire
to amend the JV Agreement as set forth herein.
AGREEMENT
In consideration of the above Recitals, which are
incorporated herein by this reference, the mutual agreements
contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged,
Ethanex and SEMO agree as follows:
1. Amendment of JV
Agreement . The JV Agreement shall be
amended as follows:
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1.1
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Obligations of the Parties . Section 7.1(e)
of the JV Agreement shall be deleted and replaced with the
following language:
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(e)
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use its commercially best efforts to submit, no
later than September 15, 2006, all necessary permits required by
the Missouri Department of Natural Resources and any other
applica
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