Document:

Exhibit
10.4

 

ULTRATECH,
INC.

 

RESTRICTED
STOCK UNIT ISSUANCE AGREEMENT

 

RECITALS

 

A.            The Board has adopted
the Plan for the purpose of retaining the services of selected Employees and
consultants and other independent advisors who provide services to the Corporation
(or any Parent or Subsidiary).

 

B.            Participant is to
render valuable services to the Corporation (or a Parent or Subsidiary), and
this Agreement is executed pursuant to, and is intended to carry out the
purposes of, the Plan in connection with the Corporation’s issuance of shares
of Common Stock to the Participant under the Stock Issuance Program.

 

C.            All capitalized terms
in this Agreement shall have the meaning assigned to them in the attached 

Appendix A.

 

NOW,
THEREFORE, it is hereby agreed as follows:

 

1.             Grant of
Restricted Stock Units. The Corporation hereby awards to the
Participant, as of the Award Date, Restricted Stock Units under the Plan. Each
Restricted Stock Unit which vests during the Participant’s period of Service
shall entitle the Participant to receive one share of Common Stock on the specified
issuance date. The number of shares of Common Stock subject to the awarded
Restricted Stock Units, the applicable vesting schedule for those shares, the
date on which those vested shares shall become issuable to Participant and the
remaining terms and conditions governing the award (the “Award”) shall be as
set forth in this Agreement.

 

AWARD SUMMARY

 

	
  Award Date:

  	
                         ,
  200    

  

 

	
  Number of Shares

  Subject to Award: 

  	
   

                 
  shares of Common Stock (the “Shares”) 

  

 

	
  Vesting
  Schedule:

  	
  The Shares shall vest in a series of         
  (    ) successive equal         
  installments upon the Participant’s completion of each         
  of Service over the          (    )-year
  period measured from         , 20    .
  However, the Shares may be subject to accelerated vesting in whole or in part
  in accordance with the provisions of Paragraphs 4 and 6 of this Agreement. 

  

 

 

	
  Issuance Schedule

  	
  The Shares in which the Participant vests in
  accordance with the foregoing Vesting Schedule will become issuable on the
  date (the “Issue Date”) upon which occurs the earliest
  of the following dates or events: (i)        
  20    , (ii) the date of the Participant’s Separation from
  Service or (iii) the closing date of a Change in Control. The actual issuance
  of the Shares shall be subject to the Corporation’s collection of all applicable
  Withholding Taxes and shall be effected on the applicable Issue Date or as
  soon as administratively practicable thereafter, but in no event later than
  the close of the calendar year in which such Issue Date occurs or (if later)
  the fifteenth (15th) day of the third calendar month following such Issue
  Date. The procedures pursuant to which the applicable Withholding Taxes are
  to be collected are set forth in Paragraph 8 of this Agreement.

  

 

2.             Limited
Transferability. Prior to actual receipt of the Shares which
vest and become issuable hereunder, the Participant may not transfer any
interest in the Award or the underlying Shares. Any Shares which vest hereunder
but which otherwise remain unissued at the time of the Participant’s death may
be transferred pursuant to the provisions of the Participant’s will or the laws
of inheritance or to the Participant’s designated beneficiary or beneficiaries
of this Award. The Participant may also direct the Corporation to issue the
stock certificates for any Shares which in fact vest and become issuable under
the Award during his or her lifetime to one or more designated family members
or a trust established for the Participant and/or his or her family members.
The Participant may make such a beneficiary designation or certificate
directive at any time by filing the appropriate form with the Plan
Administrator or its designee.

 

3.             Cessation of
Service. Except as otherwise provided in Paragraph 4 below,
should the Participant cease Service for any reason prior to vesting in one or
more Shares subject to this Award, then the Award will be immediately cancelled
with respect to those unvested Shares, and the number of Restricted Stock Units
will be reduced accordingly. The Participant shall thereupon cease to have any
right or entitlement to receive any Shares under those cancelled units. Should
the Participant’s Service terminate by reason of a Termination for Cause, then
this Award will be immediately cancelled with respect to all the Restricted
Stock Units subject to such Award, whether vested or unvested at the time, and
the Participant shall thereupon cease to have any right or entitlement to
receive any Shares under this Award and the cancelled Restricted Stock Units.

 

4.             Accelerated
Vesting. The following special vesting acceleration provisions
shall be in effect for the Award and shall be in addition to the vesting
acceleration provisions of Paragraph 6 of this Agreement:

 

(a)           Should the Participant
terminate Service by reason of Retirement or should the Participant’s Service
terminate at or after attainment of age sixty-five (65) by reason of death, Permanent
Disability or Involuntary Termination (other than a Termination for Cause), then
all the Shares at the time subject to this Award shall immediately vest.

 

2

 

(b)           Should the Participant’s
Service terminate prior to attainment of age sixty-five (65) by reason of his
or her death, Permanent Disability or Involuntary Termination (other than a
Termination for Cause), then the Participant shall immediately vest in the
additional number of Shares (if any) in which the Participant would have been
vested at the time of such termination had the Shares subject to this Award
vested in a series of                
(    ) successive equal           
installments over the duration of the Vesting Schedule.

 

(c)           The Shares which vest
on an accelerated basis pursuant to this Paragraph 4, together with any other
Shares in which the Participant is at the time vested, shall be issued on the
date of the Participant’s Separation from Service or as soon as
administratively practicable thereafter, subject to the Corporation’s
collection of the applicable Withholding Taxes, but in no event later than the
close of the calendar year in which such Separation from Service occurs or (if
later) the fifteenth (15th) day of the third calendar month following the date
of such Separation from Service.

 

5.             Stockholder
Rights and Dividend Equivalents

 

(a)           The holder of this
Award shall not have any stockholder rights, including voting or dividend
rights, with respect to the Shares subject to the Award until the Participant becomes
the record holder of those Shares following their actual issuance upon the
Corporation’s collection of the applicable Withholding Taxes.

 

(b)           Notwithstanding the
foregoing, should any dividend or other distribution, whether regular or
extraordinary and whether payable in cash, securities or other property, be
declared and paid on the outstanding Common Stock while one or more Shares
remain subject to this Award (i.e., those Shares are not otherwise issued and
outstanding for purposes of entitlement to the dividend or distribution), then
a special book account shall be established for the Participant and credited
with a phantom dividend equal to the actual dividend or distribution which
would have been paid on the Shares at the time subject to this Award had those
Shares been issued and outstanding and entitled to that dividend or
distribution. The phantom dividend equivalents so credited shall vest at the
same time as the Shares to which they relate and shall be distributed to the
Participant (in the same form the actual dividend or distribution was paid to
the holders of the Common Stock entitled to that dividend or distribution)
concurrently with the issuance of those Shares on the applicable Issue Date. However,
each such distribution shall be subject to the Corporation’s collection of the
Withholding Taxes applicable to that distribution.

 

6.             Change of Control.

 

(a)           Any Restricted Stock
Units subject to this Award at the time of a Change in Control will vest
immediately prior to the closing of that Change in Control. The Shares subject
to those vested units, together with any other Shares in which the Participant
is at that time vested, will be issued on the Issue Date triggered by the
Change in Control (or otherwise converted into the right to receive the same
consideration per share of Common Stock 

 

3

 

payable to the other
stockholders of the Corporation in consummation of that Change in Control and
distributed at the same time as such stockholder payments), subject to the
Corporation’s collection of the applicable Withholding Taxes pursuant to the
provisions of Paragraph 8.

(b)           This Agreement shall
not in any way affect the right of the Corporation to adjust, reclassify,
reorganize or otherwise change its capital or business structure or to merge,
consolidate, dissolve, liquidate or sell or transfer all or any part of its
business or assets.

 

7.             Adjustment in
Shares. Should any change be made to the Common Stock by reason
of any stock split, stock dividend, recapitalization, combination of shares,
exchange of shares or other change affecting the outstanding Common Stock as a
class without the Corporation’s receipt of consideration, appropriate
adjustments shall be made to the total number and/or class of securities
issuable pursuant to this Award in order to reflect such change and thereby
preclude a dilution or enlargement of benefits hereunder.

 

8.             Collection of
Withholding Taxes.

 

(a)           The Corporation shall
collect the employee portion of the FICA taxes (Social Security and Medicare) with
respect to the Shares at the time those Shares vest hereunder. The FICA taxes
shall be based on the Fair Market Value of the Shares on their vesting date. The
Corporation shall also collect the employee portion of the FICA taxes with
respect to any phantom dividends at the time those phantom dividends vest
hereunder. The FICA taxes shall be based on the cash amount and the fair market
value of any other property underlying the phantom dividends on the vesting
date. Unless the Participant delivers a separate check payable to the
Corporation in the amount of the FICA taxes required to be withheld from the
Participant, the Corporation shall withhold those taxes from the Participant’s
wages. However, if the Participant is at the time an executive officer of the
Corporation, then such withholding taxes must be collected from the Participant
through delivery of his or her separate check not later than the vesting date.

 

(b)           The Corporation shall
collect the federal, state and local income taxes required to be withheld with
respect to the distribution of the phantom dividend equivalents to the
Participant by withholding a portion of that distribution equal to the amount
of those taxes, with the cash portion of the distribution to be the first
portion so withheld. Until such time as the Corporation provides the
Participant with notice to the contrary, the Corporation shall collect the federal,
state and local income taxes required to be withheld with respect to the issuance
of the vested Shares hereunder through an automatic Share withholding procedure
pursuant to which the Corporation will withhold, at the time of such issuance, a
portion of the Shares with a Fair Market Value (measured as of the issuance date)
equal to the amount of those taxes (the “Share Withholding Method”); provided, however, that the amount of any Shares so
withheld shall not exceed the amount necessary to satisfy the Corporation’s
required tax withholding obligations using the minimum statutory withholding
rates for federal and state tax purposes that are applicable to supplemental
taxable income. Participant shall be notified in writing in the event such
Share Withholding Method is no longer available.

 

4

 

(c)           Should any Shares be
distributed at time the Share Withholding Method is not available, then the federal,
state and local income taxes required to be withheld with respect to those
Shares shall be collected from the Participant through either of the following
alternatives:

 

•              the
Participant’s delivery of his or her separate check payable to the Corporation
in the amount of such Withholding Taxes, or

 

•              the
use of the proceeds from a next-day sale of the Shares issued to the
Participant, provided and only if (i) such a sale is permissible under the
Corporation’s trading policies governing the sale of Common Stock, (ii) the
Participant makes an irrevocable commitment, on or before the Issue Date for
those Shares, to effect such sale of the Shares and (iii) the transaction is
not otherwise deemed to constitute a prohibited loan under Section 402 of the
Sarbanes-Oxley Act of 2002.

 

(d)           Except as otherwise
provided in Paragraph 6 and Paragraph 8(b), the settlement of all Restricted
Stock Units which vest under the Award shall be made solely in shares of Common
Stock. In no event, however, shall any fractional shares be issued. Accordingly,
the total number of shares of Common Stock to be issued pursuant to the Award
shall, to the extent necessary, be rounded down to the next whole share in
order to avoid the issuance of a fractional share.

 

9.             Deferred Issue Date.
Notwithstanding any provision to the contrary in this Agreement, no Shares
which become issuable by reason of the Participant’s Separation from Service
shall actually be issued to a Participant prior to the earlier
of (i) the expiration of the six (6)-month period measured from the date of his
or her Separation from Service or (ii) the date of his or her death, if the
Participant is deemed at the time of such Separation from Service to be a “key
employee” within the meaning of that term under Code Section 416(i) and such delayed issuance is
otherwise required in order to avoid a prohibited distribution under Code
Section 409A(a)(2). Upon the expiration of the applicable Code Section
409A(a)(2) deferral period, all Shares deferred pursuant to this Paragraph 9
shall be issued in a lump sum to the Participant.

 

10.           Benefit
Limit. In the event the vesting and
issuance of the Shares subject to this Award would otherwise constitute a
parachute payment under Code Section 280G, then the vesting and issuance of
those Shares shall be subject to reduction to the extent necessary to assure
that the number of Shares which vest and are issued under this Award will be
limited to the greater of (i)  the
number of Shares which can vest and be issued without triggering a parachute
payment under Code Section 280G or (ii)  the maximum number of Shares
which can vest and be issued under this Award so as to provide the Participant
with the greatest after-tax amount of such vested and issued Shares after
taking into account any excise tax the Participant may incur under Code Section
4999 with respect to those Shares and any other benefits or payments to which
the Participant may be entitled in connection with any change in control or
ownership of the Corporation or the subsequent termination of the Participant’s
Service.

 

5

 

11.           Compliance with
Laws and Regulations. The issuance of shares of Common Stock
pursuant to the Award shall be subject to compliance by the Corporation and
Participant with all applicable requirements of law relating thereto and with
all applicable regulations of any stock exchange (or the Nasdaq National
Market, if applicable) on which the Common Stock may be listed for trading at
the time of such issuance.

 

12.           Notices.
Any notice required to be given or delivered to the Corporation under the terms
of this Agreement shall be in writing and addressed to the Corporation at its
principal corporate offices. Any notice required to be given or delivered to
Participant shall be in writing and addressed to Participant at the address
indicated below Participant’s signature line on this Agreement. All notices
shall be deemed effective upon personal delivery or upon deposit in the U.S.
mail, postage prepaid and properly addressed to the party to be notified.

 

13.           Successors and
Assigns. Except to the extent otherwise provided in this
Agreement, the provisions of this Agreement shall inure to the benefit of, and
be binding upon, the Corporation and its successors and assigns and
Participant, Participant’s assigns, the legal representatives, heirs and
legatees of Participant’s estate and any beneficiaries of the Award designated
by Participant.

 

14.           Construction.
This Agreement and the Award evidenced hereby are made and granted pursuant to
the Plan and are in all respects limited by and subject to the terms of the
Plan. All decisions of the Plan Administrator with respect to any question or
issue arising under the Plan or this Agreement shall be conclusive and binding
on all persons having an interest in the Award.

 

15.           Governing Law.
The interpretation, performance and enforcement of this Agreement shall be
governed by the laws of the State of California without resort to that State’s
conflict-of-laws rules.

 

16.           Employment at
Will. Nothing in this Agreement or in the Plan shall confer upon
Participant any right to continue in Service for any period of specific
duration or interfere with or otherwise restrict in any way the rights of the
Corporation (or any Parent or Subsidiary employing or retaining Participant) or
of Participant, which rights are hereby expressly reserved by each, to
terminate Participant’s Service at any time for any reason, with or without
cause.

 

6

 

IN WITNESS WHEREOF,
the parties have executed this Agreement on the day and year first indicated
above.

 

	
   

  	
  ULTRATECH, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PARTICIPANT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Signature:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Address:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

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APPENDIX
A

 

DEFINITIONS

 

The following definitions shall be in effect under the Agreement:

 

A.            Agreement
shall mean this Restricted Stock Unit Issuance Agreement.

 

B.            Award
shall mean the award of Restricted Stock Units made to the Participant pursuant
to the terms of this Agreement.

 

C.            Award Date
shall mean the date the Restricted Stock Units are awarded to Participant
pursuant to the Agreement and shall be the date indicated in Paragraph 1 of the
Agreement.

 

D.            Board
shall mean the Corporation’s Board of Directors.

 

E.             Change in Control
shall mean a change in ownership or control of the Corporation effected through
any of the following transactions:

 

(i)            a merger or
consolidation in which the Corporation is not the surviving entity and in which
securities possessing more than fifty percent (50%) of the total combined
voting power of the Corporation’s outstanding securities are transferred to
person or persons different from the persons holding those securities
immediately prior to such merger or consolidation,

 

(ii)           the sale, transfer or
other disposition of all or substantially all of the assets of the Corporation
in complete liquidation or dissolution of the Corporation, or

 

(iii)          any reverse merger in
which the Corporation is the surviving entity but in which securities
possessing more than fifty percent (50%) of the total combined voting power of
the Corporation’s outstanding securities are transferred to person or persons
different from the persons holding those securities immediately prior to such
merger.

 

(iv)          the acquisition,
directly or indirectly by any person or related group of persons (other than
the Corporation or a person that directly or indirectly controls, is controlled
by, or is under common control with, the Corporation), of beneficial ownership
(within the meaning of Rule 13d-3 of the 1934 Act) of securities possessing
more than fifty percent (50%) of the total combined voting power of the Corporation’s
outstanding securities pursuant to a tender or exchange offer made directly to
the Corporation’s stockholders, or

 

A-1

 

(v)           a change in the
composition of the Board over a period of twelve (12) consecutive months or
less such that a majority of the Board members ceases, by reason of one or more
contested elections for Board membership, to be comprised of individuals who
either (A) have been Board members continuously since the beginning of such period
or (B) have been elected or nominated for election as Board members during such
period by at least a majority of the Board members described in clause (A) who
were still in office at the time the Board approved such election or
nomination.

 

F.             Code
shall mean the Internal Revenue Code of 1986, as amended.

 

G.            Common Stock
shall mean shares of the Corporation’s common stock.

 

H.            Corporation
shall mean Ultratech, Inc., a Delaware corporation, and any successor
corporation to all or substantially all of the assets or voting stock of Ultratech,
Inc. which shall by appropriate action adopt the Plan.

 

I.              Employee
shall mean an individual who is in the employ of the Corporation (or any Parent
or Subsidiary), subject to the control and direction of the employer entity as
to both the work to be performed and the manner and method of performance.

 

J.             Fair Market Value
per share of Common Stock on any relevant date shall be determined in
accordance with the following provisions:

 

(i)            If the Common Stock is
not at the time listed or admitted to trading on any Stock Exchange but is
traded on the Nasdaq National Market, the Fair Market Value shall be the
closing selling price per share on the date in question, as such price is
reported by the National Association of Securities Dealers on the Nasdaq
National Market or any successor system. If there is no reported closing
selling price for the Common Stock on the date in question, then the closing
selling price on the last preceding date for which such quotation exists shall
be determinative of Fair Market Value.

 

(ii)           If the Common Stock is
at the time listed or admitted to trading on any Stock Exchange, then the Fair
Market Value shall be the closing selling price per share on the date in
question on that Stock Exchange, as such price is officially quoted in the
composite tape of transactions on such exchange. If there is no reported sale
of Common Stock on such Stock Exchange on the date in question, then the Fair
Market Value shall be the closing selling price on the exchange on the last
preceding date for which such quotation exists.

 

K.            Involuntary
Termination  shall mean the termination of the Participant’s
Service which occurs by reason of:

 

A-2

 

(i)            such individual’s
involuntary dismissal or discharge by the Corporation (or any Parent or
Subsidiary) for reasons other than a Termination for Cause, or

 

(ii)           such individual’s
voluntary resignation following (A) a change in his or her position with the
Corporation (or any Parent or Subsidiary) which materially reduces his or her
duties and responsibilities or the level of management to which he or she
reports, (B) a reduction in his or her rate of base salary or target bonus
under any corporate-performance based bonus or incentive programs by more than
fifteen percent (15%) or (C) a relocation of such individual’s place of
employment by more than sixty (60) miles, provided and only if such change,
reduction or relocation is effected by the Corporation (or any Parent or
Subsidiary) without the individual’s consent.

 

L.             1934 Act shall mean the Securities Exchange Act of 1934, as
amended from time to time.

 

M.           Participant
shall mean the person to whom the Award is made pursuant to the Agreement.

 

N.            Parent
shall mean any corporation (other than the Corporation) in an unbroken chain of
corporations ending with the Corporation, provided each corporation in the
unbroken chain (other than the Corporation) owns, at the time of the
determination, stock possessing fifty percent (50%) or more of the total
combined voting power of all classes of stock in one of the other corporations
in such chain.

 

O.            Permanent
Disability  shall mean the Participant’s inability to engage in
any substantial gainful activity by reason of any medically determinable
physical or mental impairment expected to result in death or to be of
continuous duration of twelve (12) months or more.

 

P.             Plan
shall mean the Corporation’s 1993 Stock Option/Stock Issuance Plan, as amended
and restated.

 

Q.            Plan
Administrator shall mean either the Board or a committee of the
Board acting in its capacity as administrator of the Plan.

 

R.            Restricted
Stock Unit shall mean each unit subject to this Award which
shall entitle the Participant to receive one share of Common Stock under the
Plan at a designated time following the vesting of that unit.

 

S.             Retirement
shall mean the Participant’s voluntary termination from Service on or after his
or her attainment of age sixty five (65) other than in connection with a
Termination for Cause event

 

A-3

 

T.            Separation
from Service shall mean the Participant’s termination of Service
under circumstances which are deemed to constitute a separation from service
within the meaning of Code Section 409A and the applicable Treasury Regulations
thereunder.

 

U.            Service
shall mean the Participant’s performance of services for the Corporation (or
any Parent or Subsidiary) in the capacity of an Employee, a non-employee member
of the board of directors or a consultant or independent advisor. For purposes
of this Agreement, Participant shall be deemed to cease Service immediately
upon the occurrence of the either of the following events: (i) Participant no
longer performs services in any of the foregoing capacities for the Corporation
(or any Parent or Subsidiary) or (ii) the entity for which Participant performs
such services ceases to remain a Parent or Subsidiary of the Corporation, even
though Participant may subsequently continue to perform services for that
entity. Service shall not be deemed to cease during a period of military leave,
sick leave or other personal leave approved by the Corporation; provided, however, that except to the extent otherwise
required by law or expressly authorized by the Plan Administrator or the
Corporation’s written leave of absence policy, no Service credit shall be given
for vesting purposes for any period the Participant is on a leave of absence.

 

V.            Stock Exchange
shall mean the American Stock Exchange or the New York Stock Exchange.

 

W.           Subsidiary
shall mean any corporation (other than the Corporation) in an unbroken chain of
corporations beginning with the Corporation, provided each corporation (other
than the last corporation) in the unbroken chain owns, at the time of the
determination, stock possessing fifty percent (50%) or more of the total
combined voting power of all classes of stock in one of the other corporations
in such chain.

 

X.            Termination for Cause
shall mean the termination of the Participant’s Service by the Corporation (or
any Parent or Subsidiary) for one or more of the following reasons:

 

(i)            the Participant’s
repeated failure to perform any essential duty of his or her position other
than due to Permanent Disability;

 

(ii)           the Participant’s
commission of any act that constitutes gross misconduct and is injurious to the
Corporation or any Parent or Subsidiary or any successor to the Corporation;

 

(iii)          the Participant’s
conviction of or pleading guilty or nolo contendere
to any felony involving theft, embezzlement, dishonesty or moral turpitude;

 

A-4

 

(iv)          the Participant’s
commission of any act of fraud against, or the misappropriation of property
belonging to, the Corporation or any Parent or Subsidiary or any successor to
the Corporation;

 

(v)           the Participant’s
commission of any act of dishonesty in connection with his or her responsibilities
as an employee that is intended to result in his or her personal enrichment or
the personal enrichment of his or her family or others;

 

(vi)          any other intentional
misconduct by the Participant adversely affecting the business or affairs of
the Corporation in a material manner; or

 

(vii)         the Participant’s
material breach of any employment agreement he or she may have at the time with
the Corporation or any other agreement between the Participant and the
Corporation or any Parent or Subsidiary or successor to the Corporation.

 

Y.            Withholding Taxes
shall mean (i) the employee portion of the federal, state and local employment
taxes required to be withheld by the Corporation in connection with the vesting
of the shares of Common Stock under the Award and any phantom dividend
equivalents relating to those shares and (ii) the federal, state and local
income taxes required to be withheld by the Corporation in connection with the
issuance of those vested shares and the distribution of any phantom dividend
equivalents relating to such shares.

 

A-5Exhibit 10.1

 

***Text Omitted and Filed Separately

with the Securities and Exchange Commission.

Confidential Treatment Requested

Under 17 C.F.R. Sections 200.80(b)(4)

and 240.24b-2.

 

FOURTH AMENDMENT

TO THE COLLABORATIVE

RESEARCH AND LICENSE AGREEMENT

BETWEEN SENOMYX AND CAMPBELL

 

THIS FOURTH AMENDMENT TO THE COLLABORATIVE RESEARCH AND LICENSE
AGREEMENT (the “Fourth Amendment”)
is made by and between Senomyx, Inc. (“Senomyx”),
a Delaware corporation, having a principal place of business at 11099 North
Torrey Pines Road, La Jolla, CA 92037, and Campbell Soup Company (“Campbell”), having its principal place
of business at Campbell Place, Camden, NJ 08103-1799.

 

WHEREAS, Senomyx and Campbell entered into that certain Collaborative
Research and License Agreement dated March 28, 2001, as amended by that certain
First Amendment dated July 26, 2002, that certain Second Amendment dated
November 5, 2002 and that certain Third Amendment dated February 19, 2004 (collectively,
the “Agreement”), (capitalized
terms used but not otherwise defined in this Fourth Amendment shall have the
meanings given such terms in the Agreement); and

 

WHEREAS, Senomyx and Campbell desire to amend the Agreement to extend
the Collaborative Period in the manner set forth in this Fourth Amendment;

 

NOW, THEREFORE, in consideration of the foregoing premises and of the covenants, representations and agreements set forth below, the parties hereby agree to amend the Agreement as follows:
 
I.              The following definitions of Appendix A of the Agreement are hereby included or amended and restated herein. All other definitions in the Agreement will remain unchanged.

 

“Collaborative Period” means
the period beginning on the Effective Date and ending upon the earlier of (i)
the submission of a data package for GRAS determination or (ii) March 28,
2009, unless terminated earlier in accordance with Section 3.2 or 13.

 

“Proof of Concept” means
identification of at least one Compound that provides [***] to a Senomyx
sensory panel and confirmed and validated by a Campbell-conducted sensory panel
and [***].  As an example, a [***].

 

II.            The following language is hereby added to Section
7.1 of the Agreement:

 

“For the sixth year through the end of the Collaborative Period, Campbell will pay Senomyx funding for research support at an annual rate of [***] (subject to achievement of Proof of Concept as described below).  These payments will be made according to the following schedule.

 

***Confidential Treatment
Requested

 

1

 

•      [***]
•      [***]

 

•      [***]
•      [***]

 

•      [***]
•      [***]

 

Upon achievement of Proof
of Concept, the annual research support funding rate will [***].  Such funding rate will be [***]. 
Any adjustments in funding due to achievement of the Proof of Concept
will be made by Campbell within [***].”

 

III.           Section 13.2 of the Agreement is hereby amended and
restated in its entirety as follows:

 

“13.2 Termination by Campbell.  Campbell will have the right to terminate this Agreement without cause at any time upon sixty (60) days written notice; provided, however, that if such termination occurs prior to the end of the Collaborative Period, Campbell will provide research funding in accordance with Section 7.1 for a period of six (6) months from the date of written notice of termination (for purposes of clarity, such payment will be a pro rata portion of the annual research funding rate set forth in Section 7.1).”

 

IV.           The terms and conditions of Appendix C, the Collaborative Protocol, will be updated at the next meeting of the Steering Committee and will be incorporated into this Agreement by reference.
 
V.            Miscellaneous.
 

(1)           Except as specifically amended by this Fourth Amendment,
the terms and conditions of the Agreement shall remain in full force and
effect.

 

(2)           This
Fourth Amendment shall be governed by the laws of the State of California; as
such laws are applied to contracts entered into and to be performed entirely
within such state.

 

(3)           This Fourth Amendment may be executed in
two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute the same instrument.

 

***Confidential Treatment
Requested

 

2

 

IN WITNESS WHEREOF, the parties have executed this Fourth Amendment
effective as of Feburary 24, 2006.

 

 

	
  SENOMYX, INC.

  	
   

  	
  CAMPBELL SOUP COMPANY

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:  

  	
    /s/ Kent Snyder

  	
   

  	
  By:  

  	
    /s/ M. Carl Johnson

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
    Kent Snyder

  	
   

  	
  Name:

  	
    M. Carl Johnson

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
    President and CEO

  	
   

  	
  Title:

  	
    SVP and Chief Strategy Officer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
    2/24/06

  	
   

  	
  Date:

  	
    2/27/06

  	
   

  
								

 

3

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