Document:

exv10w39xay

 

Exhibit 10.39(a)

Kraton Polymers

Attention: Mr Scott Lee

15710 John F. Kennedy Blvd. Ste.300

Houston, Texas 77032

United States of America

10 December 2007

Re: Letter of Amendment: Isoprene Pricing and Minimum Volume Requirements for 2008 and 2009

Dear Mr Lee,

This letter is to document the oral agreement between Shell Chemicals Europe B.V. (Shell)
and Kraton Polymers Nederland B.V. (Kraton) to vary the Isoprene Monomer Supply Agreement,
originally dated 28 February 2001, as assigned to Shell from Shell Nederland Chemie B.V. on
1 October 2002 and as subsequently amended on 1 January 2003 in accordance with the
amendment attached as Exhibit A hereto (the “Agreement”), relating to the delivery of
isoprene at Pernis, as set out in this letter. If this letter reflects your understanding of
our oral agreement, please sign the enclosed copy of this letter and return it to me at the
above address, at which time this letter shall be deemed Amendment No. 2 to the Agreement.

The parties have agreed that, from 1 January 2008:

(a) Clause 2.1 shall be deleted and replaced by the following:

	 	2.1	 	SCE shall, subject to the remaining provisions set forth herein, supply
to
PURCHASER and PURCHASER shall purchase from SCE at least [          ] Tonnes of IP in
1P/19 Product per Year for each of the calendar years 2008 and 2009. For calendar
years 2008 and 2009, references in the Agreement to 1P/60 Product shall be deemed
deleted.

(b) Clause 4.1 shall be deleted in its entirety and replaced with the following:

	 	4.1	 	Agreed Volume shall mean [          ] Tonnes of 1P/19 in each of the
calendar
Years 2008 and 2009.

 

 

Page 2 of 3

(c) The pricing for the isoprene delivered in each of the calendar years 2008 and 2009 will be
as follows:

	 	1.	 	In each such year, the price for the first [          ] Tonnes of isoprene
purchased by Kraton shall be in accordance with the current price formula arrangements
as set out in Clause 7.1 of the Agreement (as amended) which, for the avoidance of
doubt, includes both the Pernis Formula price element and the [                  ] price
element.
	 
	 	2.	 	In each such year, the price for the additional [          ] Tonnes of isoprene
purchased by Kraton shall be the lower of: (A) the price calculated pursuant to
Section (c)(1) hereof, or (B) the Pernis Formula price element as defined in Clause
7.1 of the amended Agreement.
	 
	 	3.	 	If Kraton wishes to purchase more than [          ] Tonnes of isoprene in either
2008 or 2009, the parties will negotiate in good fai regarding the request and the
price to be charged where any such additional volume is agreed.

(d) The parties acknowledge that Shell intends to give notice to terminate the Agreement, such
notice to expire on 31 December 2009. The parties further acknowledge, however, that following
issuance of such notice of termination, Shell may desire to extend the Agreement term beyond
December 31, 2009 to coordinate termination in an orderly fashion relative to its other
contractual commitments. Accordingly, if Shell requests an extension of the Agreement, and
provides Kraton with reasonable advance written notice of the same, the parties agree to
negotiate in good faith a reasonable extension designed to accommodate the mutual needs of the
parties.

Unless this letter specifically states otherwise, all other terms of the Agreement shall remain
unchanged and in full force and effect.

	 	 	 	 	 
	Yours sincerely,

Shell Chemicals Europe B.V.

 	 	 
	/s/
 	 	 
	 	 	 
	/s/
 	 	 
	 
	

Date: 	 	 

 

 

	 	 	 	 	 

Page 3 of 3

	 	 	 	 	 
	Acknowledged and agreed to by:
 Kraton Polymers Nederland B.V.

 	 	 
	/s/
 	 	 
	 	 	 
	/s/
 	 	 
	 
	

Date: 	 	 
	 

 

 

Amendment No. 1

This Amendment No. 1 is dated as of January 1, 2003, and is by and between Shell Chemicals Europe
B.V. (“SCE”) and Kraton Polymers Nederland B V. (“PURCHASER”), and is to that certain Isoprene
Monomer Supply Agreement dated 28 February 2001 between SCE and PURCHASER (the “Agreement”).

WITNESSETH:

     Whereas, SCE and PURCHASER entered into the Agreement to provide for the terms and conditions
pursuant to which SCE shall supply to PURCHASER, at its manufacturing facility in Pernis, certain
of PURCHASER’s requirements of isoprene; and

     Whereas, the parties desire to amend certain provisions of the Agreement on the terms and
conditions set forth in this Amendment No.1

     Now, therefore, in consideration of the foregoing, the mutual covenants and agreements set
forth herein, and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereby agree as follows

	1.	 	Sub-clause 2.1 will be replaced in its entirely with the following new clause

SCE shall, subject to the provisions of sub-clause 4.1, supply to PURCHASER and PURCHASER shall
purchase from SCE at least [          ] Tonnes in aggregate of IP in IP/19

Product and IP in IP/60 Product per Year.

	2.	 	Clause 7 will be replaced in its entirety with the following new clause: Price

	7.1	 	The Price, in USD/Tonne, to be paid by PURCHASER to SCE for the supply of up to [     ] KT per
year of IP shall be as given by the following formula while quantities above [     ] KT per year
will be priced as outlined in sub-clause 7.8 :

If the Pernis Formula is [                                                  ], then the price, in USD/tonne, to be paid
by PURCHASER will be:

[                                                                      ]

If the Pernis Formula is [                                                  ], then the price, in USD/Tonne, to be paid
by PURCHASER will be:

[                                                                      ]

Pernis Formula

The Pernis Formula is defined as:

[                                                                      ]

4

 

]

[

]

7.2 The [                 ] will be calculated and applied by the parties
hereto on a [              ] basis. The [              ] for the current [          ] means the

5

 

]

.
7.2.1. [

6

 

]

7.2.2. [

]

	7.2.3.	 	If any of the Price indices are adjusted or discontinued or the Consultant no longer
provides the services described in Clause 7.2.1., Purchaser and SCE shall meet and mutually
agree on replacement of such individual indices or consultant with replacement indices or
consultant that most closely represent the original intent of the parties. It is not SCE or
Purchaser’s intention to open the Price to renegotiation as a result of the replacement
indices or consultant
	 
	7.3	 	Prices will be subject where applicable to VAT, Excise Duty and any other tax (other than on
income), duty or other governmental charge now or hereafter imposed on the Product or
on any raw material used in manufacturing the Product (or on Seller, or required to be paid or
collected by Seller, by reason of the manufacture, transportation, sale or use of

such Product or raw material)..
	 
	7.4	 	Price for Polysolvent is equal to the value [Shell Raffinaderij pays SCE for the C5
hydrocarbon stream transferred to the refinery from U-2000.]
	 
	7.5	 	The Euro/Dollar rate (monthly average) as published by
European Central Bank — LONDON - 9 A.M.
Daily shall apply to convert the Price in USD/Tonne ex clause 7.1 into an Invoice Price in
Euro/Tonne.
	 
	7.6	 	All other portions of the calculation remain unchanged.
	 
	7.7	 	If any of the indices to be used for determining the Price are discontinued, SCE and
PURCHASER shall mutually agree on the replacement of such index with another index that most
closely represents the original formula intent. It is not the parties’ intention that the
Price should be so materially altered in consequence of the replacement of an index as to
require re-negotiation and agreement of the revised Price between the parties.
	 
	7.8	 	Any quantities of IP above [     ] KT per Year will be subject to the parties agreeing a price
at least 3 months to the proposed commencement of deliveries. SCE is not obligated to deliver
more than [       ] KT per Year and Kraton is not obligated to purchase more than [     ] KT
per year from SCE.

7

 

	7.9.	 	For the purposes of this Contract “Affiliate” means:

	 	(1)	 	in respect of Seller,

	 	(a)	 	N.V. Koninklijke Nederlandsche Petroleum Maatschappij, a Dutch company,
	 
	 	(b)	 	The “Shell” Transport and Trading Company p.l.c., an English company, and
	 
	 	(c)	 	any company (other than Company) which is for the time being directly or indirectly
controlled by the two first-mentioned companies or either of them, and

	 	(2)	 	in respect of any other person, firm or corporation (“company”),

	 	(a)	 	any entity controlled by such company; or
	 
	 	(b)	 	any entity which controls such company; or
	 
	 	(c)	 	any entity which is controlled by another entity which also controls
such company;
	 
	 	whether such control is direct or indirect, and

	 	(3)	 	any company not falling under the definition set out in (1) above which is for

the time being managed or operated by a company as defined in 1 above or which has a construction,
operating, technical service or franchise agreement (meaning any agreement under which such company
operates a business or premises using a Shell Trade Mark) with Company and/or a company as defined
in (1) above.
	 
	 	 	 	For the purpose of this definition a particular company is:
	 
	 	(i)	 	directly controlled by another company or companies if the latter hold/holds in the aggregate
fifty percent (50%) or more of (a) the shares carrying votes exercisable at a general meeting
(or its equivalent) of the particular company if such company is a corporation issuing voting
stock or, or (b) the control rights or interests if it is not a corporation; and
	 
	 	(ii)	 	indirectly controlled by a company or companies (“the parent company or companies”) if a
series of companies can be specified, beginning with the parent company or companies and
ending with the particular company, so related that each company or companies of the series,
except the parent company or companies, is directly controlled by one or more companies
earlier in the series.

	4.	 	Clause 19 is deleted in its entirety.

8

 

5. Insert a new APPENDIX VII, as follows:

[

]

6. Except as otherwise set forth herein, the Agreement remains unmodified and in full force and
effect.

     In Witness Whereof, the parties have executed this Amendment No. 1 as of the date first above
written.

	 	 	 	 	 	 	 
	SHELL CHEMICAL EUROPE B.V.

 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 
	 
	KRATON POLYMERS NEDERLAND B.V.

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

9exv10w14e

 

Exhibit 10.14E

Fourth Addendum to Consulting Agreement

Dated February 1, 2000

     This Fourth Addendum is made by and between Avalon Pharmaceuticals, Inc. (formerly Therapeutic
Genomics, Inc.) a Delaware corporation, located at 20358 Seneca Meadows Parkway, Germantown, MD
20876 (“AVALON”), and Bradley G. Lorimier, an individual with an address at 7807 Fox Gate Court,
Bethesda, MD 20817 (“CONSULTANT”).

     In exchange for Consultant’s commitment to provide additional support to AVALON’S business
development efforts, AVALON agrees to extend CONSULTANT’S contract term until December 31, 2006, or
until terminated as set forth in section 6 of the February 1, 2000 Agreement.

     CONSULTANT’S compensation will be $10,000 per month.

     CONSULTANT acknowledges continuing to be bound by the terms and conditions of the agreement
entitled “Confidentiality, Assignment of Inventions and Non-Competition Agreement” (Exhibit B)
dated February 1, 2000.

     CONSULTANT acknowledges that all other terms and conditions of the February 1, 2000 agreement
are in full force and effect during the term of this extension.

READ, AGREED AND ACCEPTED:

Signed for and on behalf of

	 	 	 	 	 	 	 	 	 	 	 
	AVALON PHARMACEUTICALS, INC.	 	 	 	BRADLEY G. LORIMIER	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Kenneth C. Carter, Ph.D.
	 	 	 	By:
	 	/s/ Bradley G. Lorimier	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Name:

	 	Kenneth C. Carter, Ph.D
	 	 	 	Date:
	 	January 6, 2006	 	 
	Title:

	 	CEO & President	 	 	 	 	 	 	 	 
	Date:

	 	December 22, 2005

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