Exhibit 10.26.1

Pages where confidential treatment has been requested are stamped ‘Confidential
Treatment Requested and the Redacted Material has been separately filed with the
Commission,’ and the confidential section has been marked as follows: [***].

SCHEDULE 7 (BREEDING)

THIS SCHEDULE is made this 1st day of August 2012;

 

BETWEEN    CERES, INC., a Delaware corporation, having its principal place of
business at 1535 Rancho Conejo Blvd., Thousand Oaks, CA 91320 (“CERES”) and   
THE SAMUEL ROBERTS NOBLE FOUNDATION INCORPORATED, an Oklahoma non-profit
corporation, having its principal place of business at 2510 Sam Noble Parkway,
Ardmore, Oklahoma 73401 (“NOBLE”);

WHEREAS, CERES and NOBLE have entered into a Master Research Agreement (“MRA”),
dated 19 May 2006, which allows for the undertaking of RESEARCH PROJECTS
pursuant to SCHEDULES, these terms being defined in the MRA; and

THEREFORE, the parties have agreed to undertake the following RESEARCH PROJECT
as defined herein on the following terms and conditions:

GENERAL

A. Unless otherwise specified herein, the terms of the MRA shall apply to this
SCHEDULE.

B. In the event of any difference between the terms of this SCHEDULE and the
MRA, then the terms of this SCHEDULE shall prevail.

RESEARCH PROJECT TITLE: Switchgrass Cultivar Development

 

1. PROPOSAL OBJECTIVE: Develop commercial switchgrass cultivars for use in
bioenergy and forage cropping systems via conventional breeding and developing
molecular [***] tools.

1.1 Testing of Experimental [***] Cultivars and [***]

1.2 Building Populations for Use as [***] for Future [***] Parents

 

2. WORK TO BE UNDERTAKEN:

 

  See RESEARCH AND DEVELOPMENT PLAN (Attachment A to this SCHEDULE).

 

3. DETAILED WORKPLAN:

 

  See RESEARCH AND DEVELOPMENT PLAN (Attachment A to this SCHEDULE).

 

4. LOCATION OF WORK:

NOBLE Work:

All NOBLE laboratory and greenhouse facilities and properties will be conducted
at its Ardmore and Burneyville locations, as well as current plots at UGA farms
in Georgia.

CERES Work:

College Station Research Center, TX

 

CERES-NOBLE Schedule Breeding-Genomics   Page 1 of 8

Confidential Treatment Requested and the Redacted Material has been separately
filed with the Commission

--------------------------------------------------------------------------------

5. PRINCIPAL SCIENTIFIC STAFF:

Joe Bouton (NOBLE)

Charlie Brummer (NOBLE)

Malay Saha (NOBLE)

Jeff Gwyn (CERES)

Charlie Rodgers (CERES)

Tim Swaller (CERES)

 

6. MAJOR CONSUMABLES/LIVESTOCK TO BE PURCHASED:

None

 

7. REPORTS:

All reports shall be delivered to the MANAGEMENT COMMITTEE on or before the
required delivery dates for the same.

NOBLE will deliver at each quarterly MANAGEMENT COMMITTEE meeting (or annual
meeting, as the case may be):

 

  •  

Annual Report (compilation of slide presentations and quarterly minutes) (annual
meeting).

 

  •  

Quarterly status update and FTE breakout based on attached planning document.

 

  •  

Actual spending relative to budget.

 

  •  

INTELLECTUAL PROPERTY generated during the period.

 

  •  

Copies of slide presentations summarizing research progress (template attached
as Attachment B to this SCHEDULE).

 

  •  

Phenotypic and genotypic information collected on different populations
evaluated in this collaboration.

Additional information, if not specifically included in the delivered
information (above), shall be delivered (or later provided, wherein the
delivering party shall indicate the delivery method and time) as supporting
information at the related quarterly meeting, if available:

NOBLE will deliver:

 

  •  

Copies of field or greenhouse books and records

 

  •  

Copies of raw field trial data

 

  •  

Raw [***] and plant phenotypic data

 

  •  

[***], seed, dry tissue, and [***] from different populations as required

CERES will deliver:

 

  •  

[***] information such as sequence specific to agreed phenotypic association
utilized in the program

 

8. COMMENCEMENT/TERMINATION:

Commencement: August 1, 2012

Termination: July 31, 2014

 

CERES-NOBLE Schedule Breeding-Genomics   Page 2 of 8

Confidential Treatment Requested and the Redacted Material has been separately
filed with the Commission

--------------------------------------------------------------------------------

9. REPORT PREPARATION:

Joe Bouton (NOBLE)

Charlie Brummer (NOBLE)

Malay Saha (NOBLE)

Jeff Gwyn (CERES)

Charlie Rodgers (CERES)

Tim Swaller (CERES)

 

10. REPORT DATES:

Quarterly reports and information: Due at quarterly meetings of the MANAGEMENT
COMMITTEE per the MRA (e.g., March, June, September, December).

 

11. ASSETS:

Not applicable

 

12. INSURANCE:

Not applicable

 

13. CONTRIBUTION TO JOINT INTELLECTUAL PROPERTY:

Controlled by MRA

 

14. SPECIAL CONDITIONS:

Not applicable

 

15. INTELLECTUAL PROPERTY RIGHTS:

 

  15.1 NOBLE Background Intellectual Property:

 

  •  

Breeding populations, phenotypes and [***] on these populations

 

  15.2 CERES Background Intellectual Property:

 

  •  

Sequences from switchgrass and other species

 

  •  

Gene trait association information

 

  •  

Patent applications covering any of the foregoing

 

16. SUBCONTRACTORS AND LOCATIONS:

Not applicable

 

17. PROVISIONS FOR EARLY TERMINATION:

This SCHEDULE does not terminate automatically upon termination of the MRA.

 

CERES-NOBLE Schedule Breeding-Genomics   Page 3 of 8

Confidential Treatment Requested and the Redacted Material has been separately
filed with the Commission

--------------------------------------------------------------------------------

This SCHEDULE shall expire pursuant to the terms set forth in this SCHEDULE,
unless extended by the mutual agreement of the parties, or unless sooner
terminated in accordance with the following provisions of this Paragraph:

(a) mutual, written agreement of the parties;

(b) failure of one party to satisfy its material obligations under this
Agreement, and such party subsequently fails to cure such failure(s) within
(i) thirty (30) days for failures to remit payment for amounts due under this
Agreement and (ii) ninety (90) days for all other obligations in each case after
receipt of written notice from the non-breaching party specifying such
failure(s);

(c) one hundred eighty (180) days’ prior written notice of termination by either
CERES or NOBLE to the other party in case either the terminating party or the
other party ceases substantially all activities in the COLLABORATION CROPS;

(d) NOBLE will have the right to terminate this Agreement unilaterally with
thirty (30) days’ written notice to CERES, (i) if CERES seeks protection under
any bankruptcy, insolvency, receivership, trust, deed, creditors arrangement or
comparable proceeding or if any such proceeding is instituted against CERES (and
not dismissed within one hundred twenty (120) days); (ii) in case of dissolution
or winding up of CERES (excluding any situation where all or substantially all
of CERES’ assets, stock or business to which this Agreement relates are acquired
by a third party (whether by sale, acquisition, merger, operation of law or
otherwise)); or (iii) with one hundred twenty (120) days’ written notice to
CERES, if the institutional mission, purpose or structure of NOBLE would change
substantially and adversely affect NOBLE’S ability to satisfy its obligations
hereunder; or

(e) CERES will have the right to terminate this Agreement unilaterally: (i) with
thirty (30) days’ written notice to NOBLE if Dr. Joe Bouton and Dr. Charlie
Brummer cease to be associated with NOBLE and the research activities associated
with this SCHEDULE, and NOBLE has not replaced him within one hundred twenty
(120) days by a person reasonably acceptable to CERES; (ii) with ninety
(90) days’ written notice to NOBLE, if the institutional mission, purpose or
structure of NOBLE would change substantially; or (iii) with one (1) year’s
written notice to NOBLE, if CERES has compelling business reasons to cease the
collaboration.

 

18. USE AND COMMERCIALIZATION RIGHTS:

Controlled by MRA

 

19. CONFIDENTIALITY/PUBLICATION:

Controlled by MRA

 

CERES-NOBLE Schedule Breeding-Genomics   Page 4 of 8

--------------------------------------------------------------------------------

20. FUNDING APPROVED:

Projected Budget (per year from CERES):

 

Personnel

   Year 1      Year 2    Sub-totals

Res. Assistant + Fringe Benefits

   $ [***]       $[***]    $[***]   

 

 

    

 

  

 

Hourly Labor

   $ [***]       $[***]    $[***]   

 

 

    

 

  

 

Sub-total (Salary + Benefits)

   $ [***]       $[***]    $[***]   

 

 

    

 

  

 

Travel

   $ [***]       $[***]    $[***]

Supplies

   $ [***]       $[***]    $[***]   

 

 

    

 

  

 

Total Direct Costs

   $ [***]       $[***]    $[***]   

 

 

    

 

  

 

Indirect ( 50% of Direct)

   $ [***]       $[***]    $[***]   

 

 

    

 

  

 

Total

   $ [***]       $[***]    $[***]   

 

 

    

 

  

 

Budget justification:

Salaries:

The Research Assistant and hourly labor will provide additional hands for the
field evaluations, harvesting, and greenhouse work needed to complete the
project. Fringe benefits are calculated at [***]% to include FICA and health
insurance and thrift for the Research Assistant. A five percent fixed salary
increase is requested for the second year. Hourly labor support is requested
both years for additional help with fieldwork and data collection.

Travel:

Travel funds are requested to allow the main scientific personnel to travel to
the off-site research plots in Georgia.

Supplies:

$[***] per year is requested for general supplies for field and greenhouse
studies.

Billing Schedule: Invoices will be sent by NOBLE to CERES for actual expenses
from the previous period on the last day of the first month following the close
of each quarter, not to exceed the total amounts per year as specified above.

 

CERES-NOBLE Schedule Breeding-Genomics   Page 5 of 8

Confidential Treatment Requested and the Redacted Material has been separately
filed with the Commission

--------------------------------------------------------------------------------

IN WITNESS THEREOF this SCHEDULE has been executed on the date hereinbefore
entered.

CERES, INC.

 

/s/ Michael Stephenson

  8/15/12 By:   Michael Stephenson   Date   Vice President of Operations  

/s/ J. Jefferson Gwyn

  8/7/12 By:   J. Jefferson Gwyn, PhD   Date   Vice President, Breeding &
Genomics  

THE SAMUEL ROBERTS NOBLE FOUNDATION, INC.

 

/s/ Steven Rhines

  30 July 2012 By:   Steven Rhines   Date   Vice President, General Counsel  

 

CERES-NOBLE Schedule Breeding-Genomics   Page 6 of 8

--------------------------------------------------------------------------------

ATTACHMENT A

RESEARCH AND DEVELOPMENT PLAN

CERES-NOBLE SCHEDULE 7 (BREEDING 2012-2014)

Goal 1: Testing of Experimental [***] Cultivars and [***]

The following experimental [***] developed during the previous schedules were
established in performance trials at both Ardmore, OK and Athens, GA during
2010. They were harvested for yield during 2011 and as part of this current
schedule, and will be harvested again during 2012 and 2013. The best performing
cultivars will be identified based on their multi-location yields and
performance and pre-breeder seed from the superior [***] cultivars, and clonal
[***] that gave the best [***] and will be stored or transferred to Ceres.

 

Entry

[***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***]

EG1101

[***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***]

EG1102

In 2011, the following experimentals were likewise established and harvested at
Ardmore. Certain designated entries were also being evaluated in UGA Athens,
along with other UGA

 

CERES-NOBLE Schedule Breeding-Genomics   Page 7 of 8

Confidential Treatment Requested and the Redacted Material has been separately
filed with the Commission

--------------------------------------------------------------------------------

entries. In addition, all entries from this trial, plus the 2010 trial shown
above, were established by Ceres at College Station, TX. These trials will be
harvested during the 2012 and 2013 growing seasons. Again, the best performing
cultivars will be identified based on their multi-location yields and
performance and seed from the superior [***] cultivars and clonal [***] that
gave the best [***] and will be stored or transferred to Ceres.

 

Entry

  

Entry

[***]    [***] [***]    [***] [***]    [***] [***]    [***] [***]    [***] [***]
   [***] [***]    [***] [***]    [***] [***]    [***] [***]    EG1101 [***]   
EG1102 [***]    [***]   

Goal 2: Building Populations for Use as [***] for Future [***] Parents:

Work to date:

This is an extension of the CERES-NOBLE Schedule 5.

Proposed work:

The [***] from the [***] by [***] crosses were established in the field at
Burneyville, OK in May 2012 and will be evaluated for yield and performance
during 2012 and 2013. Since phenotyping will be accomplished during the proposed
work, it is also possible that a project could result based on these [***].
Noble could collect plant tissue and Ceres could conduct the actual [***]. The
feasibility of this project can be determined at a later date by the MANAGEMENT
COMMITTEE.

 

CERES-NOBLE Schedule Breeding-Genomics   Page 8 of 8

Confidential Treatment Requested and the Redacted Material has been separately
filed with the Commission