Document:

Form of Rights Agency Agreement

 Exhibit 4.4 
  

RIGHTS AGENCY AGREEMENT 
  
 The Bank of New York 
 101 Barclay Street, 11E 
 Reorganization Administration 
 New York, New York 10286 
  
 Ladies and Gentlemen: 
  
 RIGHTS AGENCY AGREEMENT (the “Agreement”), dated as of
                        , 2004, between COCA-COLA FEMSA, S.A. DE C.V. (the “Company”), incorporated under the
laws of the United Mexican States, and THE BANK OF NEW YORK, a New York banking corporation (the “Rights Agent”). 
  
 WHEREAS, the Company will grant to existing owners of American Depositary Shares (“ADSs”) issued under the Deposit Agreement dated as of
September 1, 1993, among the Company, The Bank of New York, as Depositary (the “Depositary”) and all owners and beneficial owners from time to time of ADSs issued thereunder from time to time (the “Deposit Agreement”), that are
registered on the books of the Depositary (the “Owners”), the right to purchase additional ADSs at a subscription price of $22.16 (the “Rights Offer”). Each ADS represents 10 Series L Shares without par value
(“Shares”), of the Company. 
  
 WHEREAS, the Rights
Offer is expected to be commenced on                         . The Rights Offer will be made to each of the Owners by
means of the prospectus dated                          (the “Prospectus”), which will be accompanied by a
subscription rights certificate and instructions with respect to the number of ADSs that may be purchased, the method for subscribing and the delivery of payment (the “ADS Subscription Rights Certificate”). The instructions entitled
Instructions as to use of Coca-Cola FEMSA, S.A. de C.V. ADS Subscription Rights Certificates is to be used by the Owners to subscribe for additional ADSs in the Rights Offer (the “Owner’s Instructions”). 
  
 NOW, THEREFORE, in consideration of the premises and mutual agreements
herein, the Company and the Rights Agent hereby agree as follows: 
  
 ARTICLE I — APPOINTMENT OF THE RIGHTS AGENT 
  
 The Company hereby appoints The Bank of New York as the Rights Agent of the Company in connection with the Rights Offer in accordance with the terms and conditions of this 

 Agreement and The Bank of New York hereby accepts such appointment and agrees to be bound by the terms and conditions of
this Agreement upon execution of this Agreement. 
  
 ARTICLE II — TERMS
OF RIGHTS OFFER 
  
 1. The subscription period will
commence on or about                                  (the “Commencement
Date”) and will end on                                  (the “Expiration
Date”). The Commencement Date at 9:00 a.m. New York time through 5:00 p.m. New York time on the Expiration Date will constitute the subscription period (the “Subscription Period”). The Company will notify the ADS Rights Agent of the
Commencement Date and of any extension of the Expiration Date. 
  
 2. Owners holding ADSs as of                                  (the
“Record Date”) will be entitled to purchase 0.3650632 ADSs for each ADS held by Owners as of the Record Date pursuant to the Rights Offer at the subscription price of $22.16 per ADS (the “ADS Subscription Price”). The ADS
Subscription Price must be paid in U.S. dollars. 
  
 Fractional
ADSs will not be issued, and the right of ADS holders to subscribe for ADSs will be rounded down to the nearest whole number. Purchases will be accepted for full ADSs only, although holders may exercise their right to subscribe for Series L Shares
in whole or in part. As a result of the rounding, holders must own at least three ADSs to acquire one new ADS. 
  
 ARTICLE III — DELIVERY OF RIGHTS OFFER MATERIAL 
  
 1. On or as soon as practicable prior to the Commencement Date, the Company will deliver to the Rights Agent sufficient copies of the Prospectus, the ADS
Subscription Rights Certificate and Owner’s Instructions. 
  
 2. Unless otherwise instructed in writing by the Company, on the Record Date the Rights Agent shall send to each Owner as of the Record Date (i) a Prospectus, (ii) an ADS Subscription Rights Certificate, (iii) Owner’s Instructions, and
(iv) a return envelope addressed to the Rights Agent for use by such Owner (such material, collectively, the “Rights Offer Material”). 
  
 3. In the event that the Rights Offer Material is returned to the Rights Agent for any reason and a proper delivery thereof cannot be effected to an
Owner, the Rights Agent shall hold such Rights Offer Material and the related Owner’s right to purchase ADSs under the Rights Offer will be treated as unexercised. The Rights Agent shall supply the Company with such information as the Company
may request with respect to any Rights Offer Material that cannot be delivered to an Owner. 
  
 4. In the event that, prior to the Expiration Date, any Owner notifies the Rights Agent that the Rights Offer Material to which such Owner is entitled has not been delivered, or 
  

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 has been lost, stolen or destroyed, the Rights Agent will furnish to such Owner a copy of the Rights Offer Material. The
Company agrees to supply the Rights Agent with sufficient copies of the Rights Offer Material for such purposes. 
  
 ARTICLE IV — ACCEPTANCE OF SUBSCRIPTIONS 
  
 1. The Rights Agent is hereby authorized and directed to receive subscriptions for ADSs on behalf of the Company throughout the Subscription Period. Any
funds that the Rights Agent receives during the Subscription Period from Owners in respect of payments for ADSs shall be deposited in an interest bearing account at the Rights Agent that the Rights Agent designates solely for such purpose (the
“Deposit Account”). Such funds shall remain in the Deposit Account until they are distributed to the Company in accordance with Article VI, paragraph 1 hereof. 
  
 As promptly as practicable after the Rights Agent receives each Owner’s Instruction, the Rights Agent shall determine
whether the Owner sending such Owner’s Instruction has properly completed and executed such forms and has submitted the correct payment for the ADSs. If such form is not properly completed, is unexecuted or, if such Owner did not send the
correct payment amount then the Rights Agent will send a notice to such Owner instructing such Owner to amend its Owner’s Instruction or submit the proper payment amount, as the case may be. Except as set forth in paragraph 3 below, if such
Owner does not amend its Owner’s Instruction or submit the proper payment amount, as the case may be, by the Expiration Date, such Owner’s right to purchase ADSs in the Rights Offer shall be deemed to be unexercised. 
  
 Notwithstanding the foregoing, without further authorization from the
Company, except where otherwise specified or as otherwise notified in writing by the Company prior to the Expiration Date, the following Owner’s Instructions shall be deemed to be properly completed: 
  
 (a) any subscription with respect to which an Owner has failed to execute an
Owner’s Instruction in the manner provided by the terms thereof, provided that (1) the Owner has indicated on such Owner’s Instruction or by written communication, the manner in which the Owner wishes to subscribe and (2) proper payment
has been made by such Owner; 
  
 (b) any subscription by an
individual (and not by a corporation, partnership or fiduciary) which is accompanied by a check drawn by an individual (and not by a corporation, partnership or fiduciary) other than the Owner, provided that (1) the Owner’s Instruction
submitted therewith has been duly executed by the Owner, (2) the Owner is the Owner to which such Owner’s Instruction relates, (3) the check tendered in payment of such subscription is drawn for the proper amount and to the order of The Bank of
New York and is otherwise in order, and (4) there is no evidence actually known to the Rights Agent indicating that such check was delivered to the Owner by the drawer thereof for any purpose other than the payment of the accompanying subscription;

  

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 (c) any subscription by a custodian on behalf of a minor which is accompanied by a check drawn by an
individual (and not by a corporation, partnership or fiduciary) other than the Owner, if the provisos set forth in clause (b) above are satisfied; or 
  
 (d) any subscription by an individual (and not by a corporation, partnership or fiduciary) which is accompanied by a check drawn by a corporation,
partnership or fiduciary other than the Owner, if the provisos set forth in clause (b) above are satisfied. 
  
 2. The Rights Agent is hereby authorized to accept subscriptions for ADSs on behalf of the Company (i) on the Expiration Date, (ii) after determining the
total number of ADSs that an owner is entitled to purchase in the Rights Offer, pursuant to Article II hereof, and (iii) upon the proper completion and execution of the Owner’s Instruction, in accordance with the terms thereof and hereof.

  
 3. The Rights Agent is authorized to waive proof of authority
to sign (including the right to waive signatures of co-fiduciaries and proof of appointment or authority of any fiduciary or other person acting in a representative capacity) in connection with any subscription with respect to which: 
  
 (a) the ADSs to which the Owner’s Instruction relates are registered in
the name of an executor, administrator, trustee, custodian for a minor or other fiduciary and has been executed by such Owner provided that the ADSs purchased are to be issued in the name of such Owner; 
  
 (b) the ADSs to which the Owner’s Instructions relates are registered
in the name of a corporation and the Owner’s Instruction has been executed by an officer of such corporation, provided that the ADSs purchased are to be issued in the name of such corporation; 
  
 (c) the Owner’s Instruction has been executed by a bank, trust company
or broker as agent for the Owner to which such Owner’s Instruction relates, provided that the ADSs purchased are to be issued in the name of such Owner; or 
  
 (d) the ADSs to which such Owner’s Instructions relates are registered in the name of a decedent and the Owner’s
Instruction has been executed by a person who purports to act as the executor or administrator of such decedent’s estate, provided that (1) the ADSs are to be issued in the name of such person as executor or administrator of such
decedent’s estate, (2) the check tendered in payment of such subscription is drawn for the proper amount and to the order of The Bank Of New York and is otherwise in order, and (3) there is no evidence actually known to the Rights Agent
indicating that such person is not the duly authorized representative which such person purports to be. 
  
 ARTICLE V — REPORTS BY THE RIGHTS AGENT 
  
 1. The Rights Agent will advise the Company by facsimile transmission or electronic mail (i) on the Record Date as to the total number of Owners and the total number of 
  

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 ADSs outstanding; and (ii) on the Commencement Date and on a daily basis during the Subscription Period as to (1) the
total number of ADSs subscribed for and the total number of Shares represented thereby pursuant to the Rights Offer that the Rights Agent has received (which have been properly completed and executed and for which the correct payment amount was
received), (2) the aggregate amount of funds received by the Rights Agent in payment of such subscriptions and (3) the total number of Owners which the Rights Agent has notified pursuant to Article IV, paragraph 1 hereof that their Owner’s
Instruction was not properly completed or that the correct payment amount for the ADSs was not received. 
  
 2. As soon as practicable after 5:00 p.m. (New York City time) on the Expiration Date, the Rights Agent will advise the Company by facsimile transmission
as to (i) the total number of ADSs subscribed for in the Rights Offer and the total number of Shares represented thereby and (ii) the aggregate amount of funds received by the Rights Agent in payment of such subscriptions. 
  
 ARTICLE VI — PAYMENTS 
  
 1. Promptly after the Expiration Date, the Company will deposit the Shares
underlying the ADSs with the Mexico City, Mexico office of Bancomer, S.A., as custodian under the Deposit Agreement and will request that the Depositary confirm such deposit with the Rights Agent. Once the Rights Agent receives confirmation that the
Shares have been deposited, the Rights Agent shall tender to the Company the aggregate amount of funds held in the Deposit Account representing the Subscription Price (the date of such transfer, the “Closing Date”). The payment shall be
made in same day funds by wire transfer, in U.S. dollars to a bank account specified by the Company pursuant to instructions on Exhibit A. 
  
 ARTICLE VII — ISSUANCE OF ADRs 
  
 1. Following receipt of the Shares issued in respect of the ADSs properly purchased pursuant to the Rights Offer, and in accordance with the terms of the
Deposit Agreement, the Rights Agent will mail or deliver an American Depositary Receipt (an “ADR”) as instructed to each Owner of ADSs, evidencing the number of ADSs for which such Owner has subscribed. If ADS holders have exercised their
ADS rights through The Depositary Trust Company, the ADR evidencing the number of ADSs for which such ADS Holder has subscribed will be electronically credited. Each ADR certificate will be registered in the name specified by the Owner on their
Owner’s Instruction. 
  
 2. The Rights Agent will mail the
ADR certificates by First Class mail under a blanket surety bond protecting the Rights Agent and the Company from any loss or liability arising out of the nonreceipt or nondelivery of any such certificate or the replacement thereof. If the market
value of securities to be mailed in any one shipment will exceed $1,000,000.00, such shipment will be sent by registered mail and will be insured separately for the replacement value of its contents. 
  

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 ARTICLE VIII — LIMITATIONS OF DUTIES 
  
 1. The Rights Agent shall have no duties or obligations other than those specifically set forth herein, including any duties
or obligations under any other agreement, and no implied duties or obligations shall be read into this Agreement against the Rights Agent. 
  
 2. The Rights Agent makes no, and will not be deemed to have made, any representations with respect to, and shall have no duties, responsibilities or
obligations with respect to determining, the validity, sufficiency, value or genuineness of any Shares, ADS Subscription Rights Certificate or other documents deposited with or delivered to it or any signature or endorsement set forth on or in
connection with such documents. 
  
 3. The Rights Agent shall not
be obligated to commence or voluntarily participate in any suit, action or proceeding arising or related to this Agreement which might in the Rights Agent’s judgement involve any expense or liability, unless the Rights Agent shall have been
furnished with indemnity satisfactory to the Rights Agent. 
  
 4.
The Rights Agent shall not be liable for or by reason of any of the statements of fact or recitals contained in this Agreement, the ADS Subscription Rights Certificate or any other Rights Offer Materials or be required to verify the same; and may
rely upon and comply with, and shall be fully indemnified and held harmless for relying upon and complying with, any ADS Subscription Rights Certificate or other Rights Offer Material, certificate, instrument, opinion of counsel, notice, letter,
telegram, records, or other document or security delivered to it in connection with this Agreement. 
  
 5. The Rights Agent may consult with legal counsel for the Company or its own counsel (which may be in-house counsel) and rely upon any opinion of such
counsel, and shall have no liability in respect of any action taken, omitted or suffered by the Rights Agent hereunder in reliance upon, and in accordance with, any such opinion. 
  
 6. The Rights Agent is hereby authorized and directed to accept instructions with respect to the performance of its duties
hereunder from the Company, and to apply to the Company for advice or instructions in connection with its duties, and it shall not be liable for any action taken or suffered to be taken by it in good faith in accordance with instructions of any such
officer or for any delay in acting while waiting for those instructions. Any application by the Rights Agent for written instructions from the Company may, at the option of the Rights Agent, set forth in writing any action proposed to be taken or
omitted by the Rights Agent under this Agreement and the date on/or after which such action shall be taken or such omission shall be effective. The Rights Agent shall not be liable for any action taken by, or omission of, the Rights Agent in
accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than three business days after the date the Company actually receives such application, unless the Company shall
have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of an omission), the Rights Agent shall have received written instructions in response to such application specifying the action
to be taken or omitted. 
  

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 7. The Rights Agent shall escheat any property held by the Rights Agent in accordance with applicable
law. 
  
 ARTICLE IX — COMPENSATION; PAYMENT OF EXPENSES

  
 1. In consideration for the services rendered herein,
the Company agrees to pay to the Rights Agent such compensation as shall be agreed in writing between the Company and the Rights Agent for all services rendered by it hereunder and, from time to time, on demand of the Rights Agent, its reasonable
and documented out-of-pocket expenses and counsel fees and other reasonable and documented disbursements incurred in the administration and execution of this Agreement and the exercise and performance of its duties hereunder. 
  
 2. No provision of this Agreement shall require the Rights Agent to expend or
risk the Rights Agent’s own funds or otherwise incur any financial liability in the performance of any of the Rights Agent’s duties hereunder or in the exercise of the Rights Agent’s rights. 
  
 ARTICLE X — TERMINATION OF AGENCY 
  
 1. Unless terminated earlier by the parties hereto, this Agreement shall
terminate ninety (90) days after the Closing Date (the “Termination Date”). The Rights Agent’s right to be reimbursed for fees, charges and out-of-pocket expenses as provided in Article IX paragraph 1 above and the indemnification
provisions of Article XI, paragraph 2 above shall survive the termination of this Agreement. 
  
 ARTICLE XI — LIMITATION OF LIABILITY; INDEMNIFICATION 
  
 1. The Rights Agent shall not be liable for any Losses (as defined below) or action taken or omitted or for any loss or injury resulting from its actions
or performance or lack of performance of its duties hereunder in the absence of gross negligence, bad faith or willful misconduct on its part. In no event shall the Rights Agent be liable for (i) acting in accordance with the instructions from the
Company, (ii) special, consequential or punitive damages, or (iii) any Losses due to forces beyond the control of the Rights Agent, including without limitation, strikes, work stoppages, acts of war or terrorism, insurrection, revolution, nuclear or
natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services. 
  
 2. The Company shall be liable for and shall indemnify and hold harmless the Rights Agent, its directors, employees, agents and affiliates reasonable and
documented against any and all claims, losses, liabilities, damages, expenses or judgments (including attorney’s fees and expenses) (collectively referred to herein as “Losses”) arising from or in connection with this Agreement or

  

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 the performance of the Rights Agent’s duties hereunder, the enforcement of this Agreement and disputes between the
parties hereto; provided, however, that nothing contained herein shall require that the Rights Agent be indemnified for its gross negligence, bad faith or willful misconduct. The provisions of this Paragraph shall survive termination of this
Agreement or the discharge of the Rights Agent under the terms hereof. 
  
 ARTICLE XII — MISCELLANEOUS 
  
 1.
Notices. All reports, notices and other communications required or permitted to be given hereunder shall be addressed to the following on behalf of the respective parties hereto and delivered by hand, by courier or by first-class mail,
postage prepaid, electronic mail, or by telecopy promptly confirmed in writing, as follows or to such other address as may be specified in writing form time to time: 
  
 To the Company: 
  
 Coca-Cola FEMSA, S.A. de C.V. 
 Guillermo González Camarena No. 600 
 Centro de Ciudad Santa Fé 
 01210 México, D.F., México 
 Attn: Julieta Naranjo 
 Telephone: (52) (55) 5081-5148 
 Facsimile: (52) (55) 5292-3473 
  
 To the Rights Agent: 
  
 The Bank of New York 
 Reorganization Administration 
 101 Barclay Street – 11E 
 New York, NY 10286 
 Attn: Kelly Gallagher 
 Telephone: (212) 815-3491 
 Facsimile: (212) 815-7048 
  
 2. Confidentiality. All information as to the Rights Offer shall be held by the Rights Agent and its offices, employees, representatives and
agents in strict confidence and shall be disclosed only as required by law, regulation or any judicial, regulatory or administrative authority, including, for the avoidance of doubt, any banking or regulatory agency with jurisdiction over the Rights
Agent. 
  
 3. Assignment. Neither the Rights Agent
nor the Company shall assign this Agreement without first obtaining the written consent of the other party hereto. 
  
 4. Headings. The Article and Paragraph headings contained herein are for convenience and reference only and are not intended to define or
limit the scope of any provision of this Agreement. 
  

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 5. Entire Agreement; Amendment. This Agreement shall constitute the entire agreement of the
parties with respect to the subject matter and supersedes all prior oral or written agreements in regard thereto. References to any other document or agreement shall not incorporate by reference such other document or agreement into this Agreement
and shall not impose any duties or responsibilities, obligations or liabilities on the Rights Agent under such other document or agreement. Except as otherwise specifically provided herein, this Agreement may be amended only by an instrument in
writing duly executed by both parties hereto. 
  
 6.
Governing Law; Jurisdiction; Certain Waivers. 
  
 (a) This Agreement shall be interpreted and construed in accordance with the internal substantive laws (and not the choice of law rules) of the State of New York. All actions and proceedings brought by the Rights Agent relating to or
arising from, directly or indirectly, this Agreement may be litigated in courts located within the State of New York. The Company hereby submits to the personal jurisdiction of such courts; hereby waives personal service of process and consents that
any such service of process may be made by certified or registered mail, return receipt requested, directed to the Company at its address last specified for notices hereunder; and hereby waives the right to a trial by jury in any action or
proceeding with the Rights Agent. All actions and proceedings brought by the Company against the Rights Agent relating to or arising from, directly or indirectly, this Agreement shall be litigated only in courts located within the State of New York.

  
 (b) The invalidity, illegality or unenforceability of any
provision of this Agreement shall in no way affect the validity, legality or enforceability of any other provision; and if any provision is held to be unenforceable as a matter of law, the other provisions shall not be affected thereby and shall
remain in full force and effect. 
  
 7. Rights and
Remedies. The rights and remedies conferred upon the parties hereto shall be cumulative, and the exercise or waiver of any such right or remedy shall not preclude or inhibit the exercise of any additional rights or remedies. The waiver of
any right or remedy hereunder shall not preclude or inhibit the subsequent exercise of such right or remedy. 
  
 8. Representations and Warranties. The Company hereby represents, warrants and covenants that: 
  
 (a) The Company is a sociedad anónima de capital variable (a
variable capital stock corporation) duly organized and validly existing under the laws of the United Mexican States. 
  
 (b) This Agreement has been duly authorized, executed and delivered on its behalf and constitutes the legal, valid and binding obligation of the Company.
The execution, delivery and performance of this Agreement by the Company does not and will not violate any applicable law or regulation and does not require the consent of any governmental or other regulatory body except for such consents and
approvals as have been obtained and are in full force and effect. For the avoidance of doubt, all Shares and ADSs to be issued and delivered 
  

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 hereunder have been registered with the Securities and Exchange Commission, and all transactions contemplated by this
Agreement are in compliance with, and not in violation of, the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. 
  
 9. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. 
  
 10.
No Third Party Beneficiaries. This Agreement is for the exclusive benefit of the parties hereto and shall not be deemed to give any legal or equitable right, remedy or claim whatsoever to any other person. 
  
 IN WITNESS WHEREOF, COCA-COLA FEMSA, S.A. DE C. V. and THE BANK OF NEW YORK
have duly executed this agreement as of the day and year first set forth below. 
  
  

			
	 COCA-COLA FEMSA, S.A. DE C. V.

		
	 By:
	 	  

	 	 	Name:
	 	 	Title:

  
  

			
	 THE BANK OF NEW YORK,
 as Rights Agent

		
	 By:
	 	  

	 	 	Name:
	 	 	Title:

  
  

			
	Dated:	 	  

  

 10Employment Agreement between Registrant and Bruce E. MacMillan

 EXHIBIT 10.48 
 June 18, 2004 
  
 Bruce E.MacMillan. 

 
 Dear Bruce: 
  
 On behalf of Kosan Biosciences Incorporated (“Kosan” or the “Company”), I am pleased to extend to you an offer of
employment for the position of Senior Vice President/General Counsel. In this position you will report to the Chief Executive Officer. This letter sets forth the terms and conditions of your employment with Kosan. 
  
 In this position you will serve as the chief legal advisor of the company, counseling
management on the legal implications of all company activities, and serving as a Company officer, Corporate Secretary and member of the executive team. You will manage the legal functions of the organization including but not limited to the
following: patent and copyright matters, coordination of legal matters handled by outside counsel, legal defense and prosecution of claims in litigation, pre-litigation dispute resolution and interpretation and preparation of legal documents and
reports. 
  
 Your monthly salary will be $20,416 ($245,000 on an annualized
basis). You will be eligible to participate in all benefit plans and programs available to executives at your level. Your coverage under Kosan’s current benefit plans will become effective on your first day of full-time work at Kosan (your
“start date”). Normal business hours are from 8:30 a.m. to 5:30 p.m., Monday through Friday. As an exempt salaried employee, you will be expected to work additional hours as required by the nature of your work assignments, and you will not
be eligible for overtime pay. You will work at Kosan’s headquarters in Hayward, California. Your start date will be as soon as you can arrange it, but no later than June 21, 2004. 
  
 As soon as you accept this offer, I will recommend to the Board of Directors that you be granted an option to purchase 200,000 shares (ISOs
to maximum extent permitted) of Kosan Common Stock under the Kosan Stock Option Plan (the “Plan”). The option shares will vest over four years, with one-fourth vesting after one year of employment and the remainder vesting in equal monthly
increments over the remaining three years as provided in the Plan. This option grant is subject to the approval of the Board and your execution of our standard Stock Option Agreement. The exercise price will be equal to the fair market value of the
stock on the date the Board or the Compensation Committee approves the stock option, to be effective not later than your first day of employment unless otherwise agreed. 
  
 You will also be eligible to participate in our bonus plan under which you can earn up to 25% of your annual salary based on achieving your
goals and objectives and the Company achieving its corporate goals and objectives as approved by the board of Directors and subject to the terms of the plan. 

 As a condition of your employment, you must carefully review, sign, and comply with the enclosed Employee Proprietary
Information and Invention Assignment Agreement. Also as a condition of your employment, you agree to abide by the Company’s policies and procedures, as adopted from time to time, and to refrain from any activities that conflict with your
obligations to the Company. You represent that you do not have any agreements with any third parties (e.g., former employers), including but not limited to noncompetition or proprietary information agreements, that will conflict with or limit your
ability to discharge your duties to Kosan. You agree that, in the course of your work for Kosan, you will not make any unauthorized use or disclosure of any proprietary information or materials of any third party (e.g., a former employer).

  
 Your employment with the Company is for no specified period and constitutes at
will employment. As a result, you are free to resign at any time, for any reason or for no reason. Similarly, the Company is free to conclude its employment relationship with you at any time, with or without cause, and with or without notice.

  
 If your employment with Kosan is terminated involuntarily (or voluntarily with
Good Reason) within the first twelve (12) months of employment for any reason other than Cause, you will be provided six (6) months of severance (minus appropriate payroll/tax deductions) in the form of salary continuation plus a pro-rated portion
of your target bonus, provided that you sign a general release of claims in a form reasonably satisfactory to Kosan. As used in this letter agreement “Cause” shall mean (i) any breach by you of this agreement or your other obligations to
the Company under the Employee Proprietary Information and Invention Assignment Agreement which is not cured within 30 days after written notice of breach is provided to you by the Company, (ii) your conviction of a felony or crime involving moral
turpitude, (iii) theft, dishonesty or willful neglect, misconduct or misrepresentation in connection with, or in the course of, carrying out your duties and responsibilities, or (iv) gross insubordination or gross refusal to perform reasonable and
lawful directives from your superiors, which you fail to correct within 30 days after written notice; “Good Reason shall mean (i) a substantial reduction in your annual base salary; (ii) a substantial reduction in your package of benefits and
incentives (except for changes which are consistent with changes made for all Company executives); (iii) any substantial diminution of your duties, responsibilities, or authority (including change of reporting structure), or (iv) relocation of your
place of employment resulting in a travel distance greater than thirty five miles from your current residence. 
  
 The Immigration Reform and Control Act of 1986 requires that every person present to potential employers proof of identity and eligibility or authorization to accept employment in the United States. In order to comply
with this law, and before you can become a Kosan employee, you must provide appropriate documentation to prove both your identity and legal eligibility to be employed by Kosan. Acceptable forms of documentation are described on the attachment to
this offer letter. Please be sure to bring this documentation with you on your first day of employment. 
  
 To aid in the rapid and economical resolution of disputes that may arise between us, you and Kosan agree that any and all disputes, claims, or demands in any way arising out of or relating to 

 the terms of this letter agreement, your employment with Kosan, or the termination of your employment with Kosan, shall
be resolved, to the fullest extent permitted by law, by final, binding and confidential arbitration in San Francisco, California, conducted before a single arbitrator by JAMS, Inc. (“JAMS”) or its successor, under the then-applicable JAMS
rules. You acknowledge that by agreeing to this arbitration procedure, you and Kosan waive the right to resolve any such dispute, claim or demand through a trial by jury or judge or by administrative proceeding. You will have the right to be
represented by legal counsel at any arbitration proceeding. The arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award such relief as would otherwise be available under applicable law in
a court proceeding; and (b) issue a written statement signed by the arbitrator regarding the disposition of each claim and the relief, if any, awarded as to each claim, the reasons for the award, and the arbitrator’s essential findings and
conclusions on which the award is based. Kosan shall pay all JAMS’ arbitration fees. Nothing in this offer letter is intended to prevent either you or Kosan from obtaining injunctive relief in court to prevent irreparable harm pending the
conclusion of any arbitration. 
  
 This letter, (together with your Employee
Proprietary Information and Inventions Agreement and any stock option grant agreement you receive) constitutes the complete and exclusive statement of your agreement with Kosan concerning the subject matter hereof. It supersedes any other agreements
or promises made to you by anyone, whether oral or written, and it cannot be changed except in a written agreement, signed by you and a duly authorized officer of Kosan. 
  
 We are very excited at the prospect of your joining Kosan Biosciences and becoming a key contributor to our efforts. Please do not hesitate
to contact Human Resources if you have any questions. This offer will remain open until June 18, 2004 at which time it will expire if not previously accepted in writing. 
  
 To indicate your acceptance of our offer, please sign and date one copy of this letter and the Employee Proprietary Information and
Invention Assignment Agreement and return them to me. 
  
 Sincerely, 

 

			
	 Kosan Biosciences, Incorporated
	 	 UNDERSTOOD AND ACCEPTED:

					
	By:	 	 	 	 
	 	 	 /s/ Daniel V. Santi

	 	 /s/ Bruce E. MacMillan

	 	 	Daniel V. Santi, M.D., Ph.D.	 	Bruce E. MacMillan, Esq.
	 	 	Chairman and CEO	 	 
	 	 	 	 	Date: June 18, 2004
	cc:	 	Dorian Rinella	 	 
	 	 	V.P., Human Resources/Facilities	 	Date employment begins:
	 	 	Email: rinella@kosan.com	 	 
	 	 	 	 	June 21, 2004

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00070-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00070-of-00352.parquet"}]]