EX-10.9.1



 Exhibit 10.9.1 
  

							
		 	 Rabobank Utrechtse Heuvelrug

Bedrijven
	 	



	  	 Rabobank
  


  

			
	Mailing address	  	P.O. Box 82, 3700 AB Zeist


							
				
		  	Merus B.V.	    	Address	  	Utrechtseweg 25
		  	Mr. T. Logtenberg	    		  	3704 HA Zeist
		  	Padualaan 8	    	Telephone	  	+31 30 221 23 25
		  	P.O. 133	    	Email	  	Bedrijven.uhr@rabobank.nl
		  	3584 CH Utrecht	    	Bank account	  	NL72 RABO 0375 229000
		  		    	Website	  	www.rabobank.nl/uhr

  

			
	Our reference	  	MKB/PH/KG/mg
	Extension	  	+31 30 221 23 25
	Date	  	9 March 2016
		
	Subject	  	Interest option for the next period
		
		  	 Dear Mrs. Margetson and Mr. Logtenberg,
  

Some time ago we have informed you about the lapse of the fixed interest rate period as per 31 March 2016 for your loan with number 3083.901.453. I kindly
request you to make a choice for an interest type and interest rate which shall apply as of 1 April 2016 (effective date).
  

Interest proposal
  

I propose the following interest types and interest rates:
  

•    A fixed interest rate for 1 year as of the effective date: 3.55 % per year. You
will pay the interest in monthly arrears after each month.
  

¡
    A fixed interest rate for 3 years as of the effective date: 3.60% per year. You will pay the interest in monthly arrears after each month.

 
 ¡    A fixed interest rate for 4 years as of the effective date: 3.75% per year. You will pay the interest in monthly arrears
after each month.
  
 ¡    Rabobank Variable Plus Loan. The interest rate is now 4.35% per year. You will pay the
interest in monthly arrears after each month. The bank may amend the interest rate at any time. The terms of this interest type are also stated in the (general) terms and conditions which are applicable to the loan.

 
 I kindly request you to tick the desired interest type and interest rate and to return
this letter duly signed. If I receive this letter by 24 March 2016, your choice shall be effective as of the effective date.
  

Please note: if the above is not met within the proposed time, then from the effective date up to 31 March 2020, the fixed interest rate as offered
in this letter for a period of 4 years shall apply to your loan.
  
 In so far as this
letter does not deviate from the (general) terms and conditions which apply to the loan, the (general) terms and conditions remain applicable.
  

If you have any questions, please do contact me.
  

Best regards,
  

Bedrijven MKB
 for Pieter van Hulsen


 Coöperatieve Rabobank U.A., established in Amsteram 

Registered at the Chamber of Commerce under number 30046259 








					
	Page	  	2/2	  	
	Our reference	  	MKB/PH/KG/mg	  	
		  	  
 Signature(s) for agreement:

 
 Merus B.V.
	  	
			
		  	Place of signature	  	Utrecht
			
		  	Date of signature	  	15/03/2016
			
		  	Legal representative	  	S.J. Margetson
			
		  	Signature	  	/s/ S.J. Margetson
			
		  	Merus B.V.	  	
			
		  	Place of signature	  	Utretcht
			
		  	Date of signature	  	15/03/2016
			
		  	Legal representative	  	T. Logtenberg
			
		  	Signature	  	/s/ T. Logtenberg

  
 Coöperatieve Rabobank U.A., established in
Amsteram 
 Registered at the Chamber of Commerce under number 30046259