Document:

EXHIBIT 4.4

CONTRACT FOR RENDERING SERVICES

BETWEEN

ADMINISTRADORA DE FONDOS DE PENSIONES PROVIDA S.A.

AND

BBVA SERVICIOS CORPORATIVOS LIMITADA

In Santiago de Chile, on December 31, 2009

APPEAR:

I.       On one hand, ADMINISTRADORA DE FONDOS DE PENSIONES PROVIDA S.A. (from hereon, “PROVIDA”), a company constituted in compliance with the laws of the Republic of Chile, domiciled at Av. Pedro de Valdivia 100, 16th floor, Commune of Providencia, Santiago, Chile, Chilean Tax ID No. 98.000.400-7.

PROVIDA is represented by Ms. Maria Paz Yáñez Macías, Chilean, married, commercial engineer, Chilean ID No. 10.199.799-5 and Mr. Rodrigo Peña Socías, Chilean, single, attorney-at-law, Chilean ID No.8.862.295-2, both domiciled for the purpose hereunder, at the aforementioned address.

II.       On the other hand, BBVA SERVICIOS Corporativos Limitada from hereon “BBVA SERVICIOS”) a company constituted in compliance with the laws of the Republic of Chile, domiciled at Av. Pedro de Valdivia 100, 10th floor, Commune of Providencia, Santiago, Chile, Chilean Tax ID No.76.545.87-6.

BBVA SERVICIOS is represented by Mr. Eduardo Meynet Biancardi, Chilean, married, commercial engineer, Chilean ID No. 10.437.434-4, domiciled for the purpose hereunder, at the aforementioned address.

The appearing parties declare, in the capacity in which they act, that the powers they exercise have not been revoked, suspended or limited and neither has the legal acting capacity of their representatives whereby, recognizing their sufficient capacity to celebrate this act, and

WHEREAS:

I.       That, for commercial reasons, and in order to achieve synergies among their business units, the BBVA Group in Chile intends to restructure the support services it currently renders to different companies of the Group in Chile, by outsourcing specific support services of its companies to a company, also part of the Group, exclusively dedicated to this.

II.       That, as indicated in the preceding whereas, PROVIDA has made a complete analysis of the support services that may be subcontracted by third parties and allow it to obtain synergies and cost reductions, specifying that it is interested in outsourcing the following support services: (a) legal counselling; (b) human resource counselling and administration; (c) internal control and operational risk counselling; (d) counselling in the following areas: (i) evaluating the efficiency of the internal control of financial information; (ii) financial planning; (iii) tax issues and complying the regulation in force; (iv) implementation and control of payments to suppliers; and (v) counselling in the preparation, control and follow-up of the budget; (e) counselling in audit issues; (f) counselling related to issues on: (i) asset laundering and funding terrorist activities; (ii) implementation and compliance of the different codes, manuals and internal rules of conduct of PROVIDA directors and employees; (g) counselling in the purchase of technological consumables, goods and services, and the construction and maintenance of the goods; counselling in the strategic planning of information technology (IT), technological infrastructure and systems support, information technology and communication help desk (ITC), software engineering process and on-line operational process support, counselling on the definition, implantation and fulfilment  of policies related  to information security, business continuity and antifraud management plans; (h) counselling in economic, monetary, financial and currency exchange studies, both in the local and international markets; (i) counselling in business management  quality, structures, and processes and models; (j) counselling in publicity and marketing management; and (k) counselling in the communicational management of internal and external mass media; counselling in the design and implementation of the Corporate Social Responsibility program.

  

  

  

That, in order to evaluate the feasibility of outsourcing the aforementioned support services, legal reports and market condition studies were requested, which conclude on one hand that there is no impediment whatsoever to implement the project under study, in the sense that: a) the new employing company may continue operating in the current facilities, but in that case a rental or commercial contract would be implemented that would serve as the document to continue operating in said facilities and for rendering the services it would provide; b) the workers that currently render services that will be outsourced, will continue  working for the new company, without interruption, maintaining the same labor rights and obligations; and c) the new company will have its own managerial structure. On the other hand, they conclude that, under Circular 1539 of the Superintendence of Pensions (“SP”), each and every one of the services that are intended to be outsourced: a) are capable of being outsourced; b) pertain to activities that support operations characteristic of the pension business; c) are not critical activities; and d) none of the aforesaid activities in particular, nor the contract for outsourcing services, require the previous authorization of the SP.

III.       That, the Outsourcing Committee analyzed the project to outsource the services and made an evaluation that takes into account all agents involved with regard to the risks that this decision involves PROVIDA, as well as the amount of risk implicated in view of the sums paid to BBVA SERVICIOS, the volume of transactions that will be processed, the critical nature of the contracted service, the concentration of services with the same provider, the concentration of the financial sector in one single provider, among other things. This evaluation took into account the opinion of the area responsible for operational risk management in PROVIDA.

IV.       That, the Outsourcing Committee concluded that the provider is not critical and that, given the nature of the services, a specific request to the SP is not required whereby the project to outsource the services was authorized.

V.       That, the outsourcing project includes: a) the sale to the service company of the physical assets necessary to render the services and to date are being used by the employees, to be transferred to the said company; b) the assignment of contracts with the providers, necessary in the current rendering of services, under the same conditions convened in the contracts; c) signing the rental contracts and/or the assignment of rental contracts currently in force through which PROVIDA rents from the service company the physical space necessary for the service company to render its services; d) as the result of the aforementioned legal actions, the ipso jure transfer (by operation of law) of PROVIDA workers that currently render said services to BBVA SERVICIOS, under the provisions of article 4° of the Labor Code, that is to say, with work continuity.

VI.       That BBVA SERVICIOS Corporativos Limitada is a company that belongs 100% to the BBVA Group in Chile and whose exclusive objective is to “render all types of services and counselling to the companies belonging to the BBVA Holding, in Chile and abroad, on matters related to the management, administration and other areas to support their respective businesses.”

VII.                  That, the PROVIDA Board of Directors, in a meeting held on December 16, 2009, upon recommendation of the Committee of Directors, approved the operation.

The parties have agreed to enter the following Contract to outsource services:

A. OBJECTIVE OF THE CONTRACT:

FIRST: With the document hereby, effective and in force as of January 1, 2010, PROVIDA outsources the following services to BBVA SERVICIOS Corporativos Limitada: (a) legal counselling; (b) human resource counselling and administration; (c) internal control and operational risk counselling; (d) counselling in the following areas: (i) evaluating the efficiency of the internal control of financial information; (ii) financial planning; (iii) tax issues and complying the regulation in force; (iv) implementation and control of payments to suppliers; and (v) counselling in the preparation, control and follow-up of the budget; (e) counselling in audit issues; (f) counselling related to issues on: (i) asset laundering and funding terrorist activities; (ii) implementation and compliance of the different codes, manuals and internal rules of conduct of PROVIDA directors and employees; (g) counselling in the purchase of technological consumables, goods and services, and the construction and maintenance of the goods; counselling in the strategic planning of information technology (IT), technological infrastructure and systems support, information technology and communication help desk (ITC), software engineering process and on-line operational process support, counselling on the definition, implantation and fulfilment  of policies related  to information security, business continuity and antifraud management plans; (h) counselling in economic, monetary, financial and currency exchange studies, both in the local and international markets; (i) counselling in business management  quality, structures, and processes and models; (j) counselling in publicity and marketing management; and (k) counselling in the communicational management of internal and external mass media; counselling in the design and implementation of the Corporate Social Responsibility program.

  

  

  

SECOND: The contract to outsource the services referred to in the preceding first clause, comprehends: (i) the sale to BBVA SERVICIOS of the physical assets necessary to render the services; (ii) the assignment to BBVA SERVICIOS of the contracts with Providers to be identified later on; (iii) the assignment to BBVA SERVICIOS of specific rental contracts; (iv) the rental of real estate and real estate space necessary to function; (v) the ipso jure assignment (by operation of law) to BBVA SERVICIOS of the work contracts of PROVIDA workers that currently render the services to be outsourced, transferring these to BBVA SERVICIOS, by virtue of the law and (vi) rendering, on behalf of BBVA SERVICIOS, the services to be outsourced and that are outlined further ahead.

B. SALE TO BBVA SERVICIOS OF THE PHYSICAL ASSETS NECESSARY TO RENDER THE SERVICES:

THIRD: Hereby, AFP PROVIDA, sells, cedes and transfers to BBVA SERVICIOS, who purchases, accepts and receives in this act, through its appearing representative, the physical assets necessary to render the services and which are, to date, being used by the workers which are transferred to said company, and identified in ANNEX I, which is signed by the parties and understood to form an integral part of the contract hereunder.

FOURTH: The sale price of total assets referred to in preceding third clause amounts to Ch$32,857,000 (thirty-two million, eight hundred fifty-seven thousand pesos), plus taxes, as set forth in article 8 letter m) of Decree Law 825 on Sales and Service Tax.

FIFTH: Payment of the price will be made within the first 15 days of January 2010.

SIXTH: The movable property identified in ANNEX I referred to in the preceding third clause are sold in species or lump sum, in the state they are currently in, with all their use, warrantees, customs, rights and easements; free from encumbrances and attachments, prohibitions and ligations, of which the buyer declares to be fully aware.

SEVENTH: The material delivery of the movable property subject matter of this contract is carried out in this act, the buyer declaring to receive them to his entire satisfaction.

EIGHTH: The parties waive any actions for revocation that may emanate from the contract hereunder and declare that any promise made between them has been fulfilled with regard to the property being the object of this contract, the obligations of which are settled in the most ample, complete and irrevocable form.

C. ASSIGNMENT OF CONTRACTS WITH PROVIDERS:

NINTH: Hereby, PROVIDA cedes and transfers to BBVA SERVICIOS, who accepts and receives, fully or partially, through its appearing representative, the contracts with the providers identified in ANNEX II, to be signed by the appearing parties and understood to form an integral part of the contract hereunder. The aforementioned Annex will state whether the contract is transferred in full or, in its absence, identify the part that is transferred.

TENTH: The contracts referred to in the preceding ninth clause will be assigned under the same terms and conditions currently in force in the contracts entered into by PROVIDA with the aforementioned providers and will be free of additional charges for BBVA SERVICIOS insofar as PROVIDA stops receiving, on the one hand, the part of the services to be rendered to BBVA SERVICIOS and, on the other hand, stops paying the providers the part of the price for the services that will be rendered to BBVA SERVICIOS.

ELEVENTH: PROVIDA is under the obligation to obtain from the providers identified in ANNEX II, the acceptance of the total or partial assignment, as appropriate, of the respective contracts.

D. ASSIGNMENT OF RENTAL CONTRACTS:

TWELFTH: Hereby, PROVIDA cedes and transfers to BBVA SERVICIOS, who accepts and receives, either totally or partially, as pertinent, through its appearing representatives, the contracts to rent the real estate that is currently in use by the workers to be transferred to BBVA SERVICIOS as a result of the Contract hereunder, in which it appears as the lessee and are identified in ANNEX III, which is signed by the parties and understood to form an integral part of the contract hereunder.

THIRTEENTH: The contracts referred to in the preceding twelfth clause will be assigned under the same terms and conditions currently in force in the contracts entered by PROVIDA with said lessees and will be free of 

 

  

  

  

additional charges for BBVA SERVICIOS insofar as PROVIDA stops occupying, on the one hand, the real estate hat is currently used by the workers which, as a result of the contract hereunder are transferred to BBVA SERVICIOS and, on the other hand, stops paying the aforementioned lessees the part of the price for the rent of the real estate that will be used by the workers transferred to BBVA SERVICIOS.

FOURTEENTH: PROVIDA is under the obligation to obtain from the lessees identified in ANNEX III, the acceptance of the total or partial assignment, as appropriate, of the respective contracts.

E. RENTAL OF REAL ESTATE AND/OR SPACE IN REAL ESTATE:

FIFTEENTH: Hereby, PROVIDA rents from BBVA SERVICIOS the real estate and/or space in real estate identified in ANNEX IV, signed by the parties and understood to form an integral part of the contract hereunder.

SIXTEENTH: The rental period shall have an indefinite duration, ending on the date in which the services rendered by BBVA SERVICIOS, and that are the subject-matter of this Contract, is finished. Nevertheless, either one of the parties may terminate the Contract ahead of time, either totally or partially, at any time or for no reason, in writing to the other party with at least 6 months ahead of the date in which he wishes to end the Contract.

SEVENTEENTH:  BBVA SERVICIOS will assign the real estate, subject-matter of this Contract, to operations characteristic of its business.

EIGHTEENTH: The amount of the rent will be established in ANNEX IV for each one of the real estates and real estate spaces identified in the aforesaid Annex.

NINETEENTH: The improvements made to the rented properties by BBVA SERVICIOS will remain for the exclusive benefit of PROVIDA which is not obliged to compensate the lessee in any way at the time the real estate is returned. However, the improvements that can be removed without detriment, or those that constitute repairs or renovations made for strictly operational reasons such as safety boxes, alarm systems, ads, signs or any other, must be removed by BBVA SERVICIOS, at its entire expense and cost as required, and proceed to repair the place where they were installed so that the real estate can be subsequently used.

TWENTIETH: BBVA SERVICIOS will be under the obligation to maintain the rented properties in good condition, making local reparations in due time at no charge for PROVIDA.

TWENTY-FIRST: The material delivery of the rented properties is carried out in this act to the entire satisfaction of BBVA SERVICIOS, hereby stating that they are free of any kind of installation or furniture.

TWENTY-SECOND: BBVA SERVICIOS is expressly authorized, without needing to meet any other requirement, except for those required by the administrative regulation or those derived from joint ownership systems if pertinent, to carry out in the real estate, both inside and outside, during the contractual period in force or during its extensions, as many works that include, but are not limited to, refurbishing, modernizing, ornamenting or publicity it deems fit or necessary to develop the activity for which the aforesaid properties are intended. In the execution of the works, BBVA SERVICIOS may not jeopardize the security of the properties nor weaken the resistance of the materials used in its construction and must carry them out in such a way that the security and resistance is safeguarded, under its exclusive responsibility. All works carried out pursuant to this authorization will be at the expense of BBVA SERVICIOS, whereby it is authorized, as of now, to modify or substitute the works for other newer ones. All in all, BBVA SERVICIOS is under the obligation to return the properties in the same structural state as in which they were received, and cover holes and replace partition walls it may have removed pursuant to this authorization. The execution of the works described in the present clause does not give the right to increase the rent.

TWENTY-THIRD: Hereby, PROVIDA grants a special power to BBVA SERVICIOS in order to, through any one of its representatives, carry out before the competent agencies all necessary arrangements and procedures related to the modifications or increases in capacity of the interior installations of the rented properties, whether they be for potable water, sewage water, wastewater and rain water, electricity, gas or others, obtaining the final acceptances from the entities granting them. The representative is also authorized to carry out the necessary procedures to obtain building permits, sign preliminary project plans, project plans, as well as to obtain the corresponding final or partial acceptance, obtain electric junction lines and refunds for contributions in the name of PROVIDA, request final acceptances before the corresponding Water Company, carry out procedures before the Serviu, carry out necessary procedures and obtain signatures of documents to be able to implement remodelling work, whether minor work, repairs, exterior work and closures of the rented property. In general, the representative is granted as many authorizations as are needed to carry out all procedures and sign all the 

 

  

  

  

necessary documentation, required by the competent agencies to remodel properties that are rented in this document. PROVIDA releases BBVA SERVICIOS of all responsibility for the non-execution of all or some of the arrangements stated in this paragraph. It is expressly stated that this power is granted without PROVIDA assuming the cost of any of the aforementioned works, permits and fees since all of them will be at the expense of BBVA SERVICIOS and must be carried out within the limits and conditions determined in the Contract hereunder.

TWENTY-FOURTH: All expenses originating from public utilities such as gas, water, telephone, electricity, as well as community fees will be at the expense of BBVA SERVICIOS, except for property taxes.

TWENTY-FIFTH: BBVA SERVICIOS will pay for the expenses that may originate from the provisions or warrants that the authority may impart at any time with regard to the use of the properties, whether they are requirements related to sanitary, hygienic, environmental, municipal or regulatory conditions. Furthermore, it will be responsible for municipal or tax duties and permits that must be paid as a result of the activity carried out in the properties.

TWENTY-SIXTH: BBVA SERVICIOS is under the obligation to return the rented properties at the end of the rental period in the same condition in which they were received, taking into account the deterioration caused by their legitimate use which BBVA SERVICIOS must repair at its expense in order to return the properties in the same structural conditions, in other words, without the modifications it may have made, unless PROVIDA accepts, in writing, to receive the properties with such modifications. The restoration must be made by completely vacating the rented properties, making them available to the representative of PROVIDA and delivering the keys. At the time the properties are restored, BBVA SERVICIOS must show the receipts that accredit payment, until the last day it occupied the properties, community fees, electricity, gas, water, garbage collection and others it is incumbent to pay and that are not included in the community fees.

F. TRANSFER OF WORKERS CURRENTLY RENDERING SERVICES TO BE OUTSOURCED TO BBVA SERVICIOS:

TWENTY-SEVENTH: As of the effective date of the contract hereunder, resulting from the restructuring of support services, under the terms and conditions set forth in the preceding first and second whereas and the first to twenty-sixth clauses, specifically as a consequence of the juridical acts entered into hereunder (sale of assets and transfer of contracts) and, by virtue of the law, PROVIDA transfers to BBVA SERVICIOS, who accepts and receives, through its appearing representative, the work contracts of the employees that are currently rendering the aforesaid services in PROVIDA and who are identified in ANNEX V, which is signed by the parties and understood to form an integral part of the contract hereunder. According to the aforesaid, the aforementioned employees are understood to be transferred to BBVA SERVICIOS ipso jure. The parties state that PROVIDA will deliver a magnetic file to BBVA SERVICIOS which will contain  information of each transferred employee, specifically with regard to gross income, all benefits, seniority, pending vacation, pension and social security institutions to which he/she is affiliated, number of dependants. This information is confidential and will not be released to third parties, for which the provisions of the following forty-ninth and fiftieth clauses will apply.

TWENTY-EIGHTH: The transfer of employees referred to in the preceding twenty-seventh clause has operated according to the rules of paragraph 2°, article 4° of the Labor Code, in other words, with work continuity, whereby their transfer to BBVA SERVICIOS is carried out, as described in the preceding twenty-seventh clause, by virtue of the law, without requiring the will of the transferred workers. Therefore, the parties are not required to sign a new work contract nor to modify the already existing ones, as set forth by the Labor Directorate in reports N° 3501 of June 13, 1984; N°2372 of October 26, 1982; N°2661/161 of May 31, 1996; N°5693 of October 16, 1996 and Notice 4432/0207 of November 28, 2001.

TWENTY-NINTH: That, according to the preceding twenty-eighth clause, it is inadmissible to sign new work contracts, grant labor releases and severance payments for termination of contract.

THIRTIETH: BBVA SERVICIOS will take charge of all the rights and obligations that are set forth in the transferred work contracts and will keep the benefits of the employees which they currently receive, stipulated in the individual contracts and collective work instruments, all of which are applicable under the provision set forth in paragraph 2°, article 4° of the Labor Code.

G. RENDERING SERVICES:

THIRTY-FIRST: Hereby, BBVA SERVICIOS is under the obligation to render to PROVIDA the following general and administrative support services: (a) ) legal counselling; (b) human resource counselling and 

 

  

  

  

administration; (c) internal control and operational risk counselling; (d) counselling in the following areas: (i) evaluating the efficiency of the internal control of financial information; (ii) financial planning; (iii) tax issues and complying the regulation in force; (iv) implementation and control of payments to suppliers; and (v) counselling in the preparation, control and follow-up of the budget; (e) counselling in audit issues; (f) counselling related to issues on: (i) asset laundering and funding terrorist activities; (ii) implementation and compliance of the different codes, manuals and internal rules of conduct of PROVIDA directors and employees; (g) counselling in the purchase of technological consumables, goods and services, and the construction and maintenance of the goods; counselling in the strategic planning of information technology (IT), technological infrastructure and systems support, information technology and communication help desk (ITC), software engineering process and on-line operational process support, counselling on the definition, implantation and fulfilment  of policies related  to information security, business continuity and antifraud management plans; (h) counselling in economic, monetary, financial and currency exchange studies, both in the local and international markets; (i) counselling in business management  quality, structures, and processes and models; (j) counselling in publicity and marketing management; and (k) counselling in the communicational management of internal and external mass media; counselling in the design and implementation of the Corporate Social Responsibility program. The details and scope of the services under reference are established in ANNEX VI, which is signed by the parties and understood to form an integral part of the contract hereunder.

Subcontracting these services does not imply, in any way whatsoever, the outsourcing of the proprietary functions of PROVIDA. PROVIDA policies, with regard to the services being subcontracted, as well as the planning, evaluation, issuing reports, follow-ups of recommendations and participation in pertinent Committees related to the aforesaid services, will be the responsibility of the people of PROVIDA in charge of the functions in which the services are subcontracted. These are the people that must ensure that the service rendered by the related company to them is timely and of similar or better quality and level that the current one, which allows them to fully comply with the obligations stipulated by law and administrative standards for each one of the respective functions. Therefore, the persons of PROVIDA responsible for the respective functions must report to their superior officers in the PROVIDA administration on the proper functioning of their respective areas under their responsibility, and externally to the SP and other regulators (for example, the Financial Analysis Unit) and serve as specialized spokespersons in representation of PROVIDA.

THIRTY-SECOND: Performing the activities of BBVA SERVICIOS, in order to fulfill and carry out the purpose of this contract and the obligations it entails, shall be developed in BBVA SERVICIOS facilities, whether they are owned, rented or sublet.

THIRTY-THIRD: The services indicated in the preceding thirty-first clause shall be rendered by BBVA SERVICIOS with appropriate technical and material means and with its permanent staff, transferred according to the provisions of the contract hereunder, as well as with other hired personnel in accordance with the prevailing labor law or with subcontracted third parties as appropriate, who will have no labor relationship of any kind with PROVIDA.

BBVA SERVICIOS will answer to PROVIDA for the rendering of services performed by the third parties it subcontracts, under the same terms and conditions as if the work had been performed for BBVA SERVICIOS.

THIRTY-FOURTH: BBVA SERVICIOS is under the obligation to:

(i)       Fulfill each and every one of the obligations taken on in the Contract hereunder or in any one of its Annexes.

(ii)       Render the services that are the subject-matter of the Contract hereunder, according to the focus and scope established herein, including complementary documentation developed in agreement between the parties.

(iii)       Ensure that personnel dedicated to rendering the services:

a)       Comply with regulation on entry control, security and other similar in place in the place where the work is carried out.

 

b)       Adopt the necessary and appropriate measures to prevent damage and accidents to people and things.

 

c)       Comply with the duty of confidentiality and non-release of any type of documentation and information to which they have access to pursuant to the services they render to fulfill the contracted service, in compliance with the provisions established in the following forty-ninth and fiftieth clauses.

 

(iv)       Name a representative to be in contact with BBVA CHILE, mainly with the person it appoints. This representative will supervise that the service to be rendered is correctly fulfilled and compliant.

  

  

  

THIRTY-FIFTH: PROVIDA is under the obligation to:

(i)       Allow BBVA SERVICIOS personnel, and those subcontracted by it in case of necessity to render the services subject-matter of this Contract, restricted access to its own facilities where their activity takes place. Personnel must be previously authorized by PROVIDA, according to its internal regulation. This access, in any case, is subject to security restrictions and limitations which, to this end, PROVIDA has established.

(ii)       Allow BBVA SERVICIOS personnel, and those subcontracted by it, to access PROVIDA networks, servers and databases as required, so as to properly render the contracted services.

(iii)       Meet the price that the parties have agreed on in the Contract hereunder, and all the modifications that may occur by written agreement.

(iv)       Provide BBVA SERVICIOS with all the information and documentation it deems necessary in order to meet its obligations pursuant to this Contract as well as the information and documentation that BBVA SERVICIOS may reasonably require to this end. In addition, PROVIDA will ensure that the aforementioned information and documentation is relevant, complete and accurate.

(v)       Commit to collaborating with BBVA SERVICIOS so that they may render the services that are the subject-matter of the Contract hereunder, including but not limited to matters such as providing the approvals that BBVA SERVICIOS may require in due time, review reports and provide input with regard to the same as required, as well as provide any help that may be required to facilitate and ensure that no measure is taken that could interfere with rendering the services.

(vi)       Comply with the obligations taken on in the Contract hereunder, or in any of its Annexes. BBVA SERVICIOS will not be responsible for the delays, inadequate fulfilment or failure to fulfill the services it is obligated to render, as stipulated in this Contract, when this is the result of PROVIDA’s failure to fulfill the aforesaid obligations.

THIRTY-SIXTH: The services, subject-matter of the Contract hereunder, shall be rendered by personnel that have been directly hired by BBVA SERVICIOS, with exception of the provisions established in the following forty-ninth clause, who will be under its authority or direction. Hence, there will be no existence of any kind of relationship of authority or direction and/or work connection between BBVA SERVICIOS and PROVIDA, or between PROVIDA and personnel that BBVA SERVICIOS has available to render the services that are subject-matter of this Contract. In view of the aforesaid and furthermore, the personnel that is required to implement the service which BBVA SERVICIOS promises to render to PROVIDA, and the counselling, implementation of systems, technical support, testing, etc., will relate to and receive instructions exclusively from BBVA SERVICIOS.

The parties hereby state that it is a binding condition of this contract that BBVA SERVICIOS promptly fulfills each and every one of the obligations imposed on it by the labor law and corresponding work contracts with respect to the workers it assigns to render the services requested by PROVIDA, and shall be directly and exclusively responsible of all the consequences, of any nature, that stem from the failure to fulfill the aforesaid obligations.

Subsequently, the parties expressly accept that PROVIDA does not enter into any agreement or take on any responsibility, of labor or of any other type, regarding the workers hired by BBVA SERVICIOS, and the latter is under the obligation to fully comply with the prevailing pension and labor laws, in all work contracts it enters into with its personnel, for which BBVA SERVICIOS will be directly and exclusively responsible and will not be entitled to the reimbursement, fines, monetary sanction or severance payment of any kind applied to BBVA SERVICIOS or to anyone else that is obligated to pay, due to omission or non-fulfilment of the aforementioned obligations.

BBVA SERVICIOS shall be directly responsible for any dispute that may arise between it and the workers it employs to fulfill the Contract hereunder.

BBVA SERVICIOS must, therefore, keep up to date all payments for remunerations, welfare and pension benefits and work accidents of all personnel, and the failure to do so by BBVA SERVICIOS will not imply any responsibility for PROVIDA.

  

  

  

PROVIDA may, at any time, confirm the fulfilment of the aforementioned obligations, obligating BBVA SERVICIOS, as of now, to facilitate all information that it is requested to this end.

In the event that PROVIDA were sued, jointly and severally, in a labor suit, or sentenced, fined and/or sanctioned due to a failure, by BBVA SERVICIOS, to comply with a labor and/or pension rule, BBVA SERVICIOS shall have to immediately pay or return to PROVIDA all the expenses that it may have incurred as a result of the aforesaid, as well as the amount of the respective fine plus the value of the costs that PROVIDA had to sustain.

Furthermore, BBVA SERVICIOS expressly authorizes PROVIDA, in case it were obligated to make any payment, in its capacity as jointly and severally responsible, and in compliance with the provisions established in the Labor Code, to retain and pay itself the corresponding amounts, deducting them from the invoices and any other credit balance or available funds in possession of PROVIDA, notwithstanding any legal actions that may be incumbent upon it.

Furthermore, personnel that render services pursuant to the Contract hereunder shall be subject to the labor legislation that regulates BBVA SERVICIOS activities in every aspect and specifically to the labor safety and health regulation that is applicable at all times. Likewise, BBVA SERVICIOS promises to comply with the specific labor legislation that applies for as long as the contract is in force.

THIRTY-SEVENTH: BBVA SERVICIOS must have employees that are qualified, with sufficient preparation, specialization and experience for the type of service required. The determination of the qualification for the service shall be left to the exclusive criteria of PROVIDA, and BBVA SERVICIOS shall have to adopt any corrective measures immediately, if required.

THIRTY-EIGHTH: The workers assigned to rendering the services that are the subject-matter of the Contract hereunder, must be trained and informed by BBVA SERVICIOS under the terms established by prevailing regulation in the prevention of labor risks, whereby it will be solely responsible for any eventual sanction that the labor authority may impose on this matter.

Likewise, BBVA SERVICIOS shall comply with its duty to inform on Labor Safety and Health matters, set forth in the legal regulation to this end.

THIRTY-NINTH: The annual price of the support services contracted is an amount equivalent to U.F. 260, 530 for 2010, which shall increase, annually and consecutively by 3.38%.

The services are not taxed with VAT (Value Added Tax) as they belong to services classified in article 20 N°5 of the Law on Income Tax, which shall be exclusively rendered to companies of the BBVA Group.

FORTIETH: The price may be reviewed upon request by either one of the parties if objective circumstances to increase or decrease the service occur, under terms such that make the economic equivalence uneven between the right sad n obligations of both parties pursuant to the Contract. The first review can only be made after 1 year from the date the Contract came into force.

FORTY-FIRST: The price shall be paid monthly by dividing the total amount of the services by 12, in Chilean pesos, equivalent to the value of the unidad de fomento published in the Official Gazette on the day of payment.

FORTY-SECOND: The Contract hereunder shall have a duration of 10 years, as of January 1, 2010, renewable under tacit agreement for 10-year consecutive periods, unless otherwise stated by one of the parties through a written notification to the other party, with at least 1 year in advance of the end of the original period or of the respective renewal, as appropriate.

FORTY-THIRD: Notwithstanding the provision of the preceding forty-second clause, either one of the parties may decide to end prematurely the Contract hereunder or not to renew it, once 3 years have passed since it came into force, through a written notification to the other party, with at least 1 year in advance of termination of the contract.

FORTY-FOURTH: In case of an early termination of the contract or its non-renewal at the end of the original period, the party that places an early end to the contract or decides not to renew it , must pay the other party, as compensation for the damages caused, an amount that, for each case, is stated in ANNEX VII, and is evaluated by the parties  for the aforesaid damages.

  

  

  

FORTY-FIFTH: BBVA SERVICIOS shall be answerable for ordinary negligence in the strict and prompt compliance of the obligations arising from the Contract hereunder, and must compensate PROVIDA for any loss or damage it may suffer for a negligent or malicious event or act, on behalf of any one of the persons assigned to render the services stipulated in the Contract hereunder, whether they be employees of BBVA SERVICIOS or third parties subcontracted by them.

Likewise, BBVA SERVICIOS is obligated to safeguard the conduct of its employees in the services, by instructing its personnel, in order to fulfill the Contract hereunder, on their obligation to respect the conditions of the instrument hereunder and the instructions that PROVIDA has established, whereby BBVA SERVICIOS is obligated to implement and take every appropriate action to prevent any damages and take full responsibility, notwithstanding the legal actions that may be incumbent upon PROVIDA.

The aforesaid responsibility shall subsist over time, even though the damage suffered by PROVIDA is detected after the date on which the respective employee of BBVA SERVICIOS has ceased to perform his duties, and even after the termination of the Contract hereunder.

On the other hand, BBVA SERVICIOS shall make every effort and collaborate in any way to clear up, judicially and extra-judicially, the events that have caused the damage, whether a misdemeanour or not.

BBVA SERVICIOS is obligated to respect the internal rules of order, hygiene and security established by PROVIDA, in consideration of the service that it is contracting.

FORTY-SIXTH: The parties must agree, no later than March 15, 2010, the levels of service and their response times, to be included in ANNEX VIII, signed by both parties and understood to form an integral part of the contract hereunder. The aforesaid service levels and response times shall be reviewed annually, during the first quarter of each year.

In order to control and examine the quality of the service provided by BBVA SERVICIOS in the first year the Contract is in force, the parties are under the obligation to hold bi-monthly meetings in order to evaluate the service provided, taking into account among other things, the exhaustive control of the service rendered, the maximum commitment of BBVA SERVICIOS in carrying out the contract and, in general, the full satisfaction of PROVIDA with regard to the correct compliance of the service and the requirements agreed on in the Contract hereunder. The aforementioned meetings shall be coordinated by the persons designated by PROVIDA as coordinator of the Contract hereunder. The parties shall agree on the schedule to hold the meetings in the second year.

FORTY-SEVENTH: Neither one of the parties shall incur in delays in fulfilling the obligations that arise from this Contract, or they will be considered responsible for the damages or any fault or delay in the fulfilment of their obligations, if resulting from unforeseen circumstances or force majeure.

The party affected by the occurrence of the unforeseen circumstance or force majeure must inform this event in writing to the other party and that the latter has affected or will affect its capacity to fulfill its obligations, including the description of the nature of the aforesaid event, its estimated duration, and any action that has been adopted to prevent or minimize its effects.  The parties must do everything in their power to minimize the effects of any event of unforeseen circumstances or force majeure, and to correct the effects affecting the other party.

FORTY-EIGHTH: BBVA SERVICIOS must render the service contracted hereunder itself. Nevertheless, in case it is required, it may subcontract those services it is not in condition to render, through a competent corporate body of its choosing. In this case, it must inform this in writing to PROVIDA, prior to starting the activities by the third party, and that it is understood that BBVA SERVICIOS is responsible before PROVIDA for all the obligations of the Contract hereunder and for the events and/or omissions of the aforesaid third parties whereby the subcontracted company must fulfill the conditions agreed on between PROVIDA and BBVA SERVICIOS.

Nevertheless, PROVIDA reserves the right to approve or reject the subcontractors that BBVA SERVICIOS employs to render the services that are subject-matter of the Contract hereunder.

In any case, the service providers that are subcontracted shall be subject to the same clauses that apply to BBVA SERVICIOS, especially with regard to confidentiality, security and integrity of the information.

FORTY-NINTH: BBVA SERVICIOS shall be responsible for ensuring that its representatives, partners and/or personnel do not reveal, remove or release written or oral information related to PROVIDA or its clients, and is under the obligation, as of now, to immediately change any personnel that transgress these obligations, without 

 

  

  

  

detriment to the right that PROVIDA has to immediately terminate the contract, without any further process or responsibility on its behalf, and to initiate any civil or criminal legal actions granted by law or the contract in order to obtain payment to compensate the damages caused, as well as penalties for the violations committed.

In case the Contract is terminated, for whatever reason, BBVA SERVICIOS is obligated to return to PROVIDA all the information it has received from the latter, or on its behalf, of which BBVA SERVICIOS is not entitled to keep any copy of the aforementioned Confidential Information, except for the sufficient and necessary documentation to backup the reports, recommendations, suggestions, proposals, information programs or applications, or any document or work it must deliver to PROVIDA in accordance with the objective and scope of the Contract hereunder, or whenever required by the legislation that applies, but only for the period of time that is strictly necessary to fulfill the aforementioned.

The obligation established in the clause hereunder shall remain in force even after termination of this Contract.

BBVA SERVICIOS can only release Confidential Information to its employees that need to know such information in order to render the services and, in this case, to request from these employees to comply with the clause hereunder of confidentiality and privacy, and not allow under any circumstance that such information be released, either directly or indirectly, to third parties.

FIFTIETH: The objective of the clause hereunder is to establish the obligations and responsibilities of the participating parties with respect to the information that contain personal data of PROVIDA clients, suppliers and/or employees (from hereon “Data”) to which BBVA SERVICIOS may have exclusive access in order to fulfill the services that are the subject-matter of the contract hereunder, or that it may have access to in the future. Both parties take charge of the responsibilities that are incumbent upon them, deriving from prevailing legislation on Data protection, especially with regard to the agreements set forth in the following paragraphs.

The submittal of Data, by PROVIDA to BBVA SERVICIOS and through any means, is not under a legal consideration for the release or transfer of Data, but can be simply accessed as a necessary element to carry out the services established in the Contract hereunder.

The Data is the exclusive property of PROVIDA, which also extends to the elaborations, evaluations, segmentations or similar processes that, to this regard, BBVA SERVICIOS carries out for the services it renders, the parties declaring that this Data is confidential to all intents and purposes, and therefore subject to the strictest professional secrecy, even once any contractual relation between the parties of the rendered services has finalized.

BBVA SERVICIOS, with regard to the Data, is under the specific obligation to:

1. Use or apply the Data exclusively for the purposes established and in accordance with the instructions imparted by PROVIDA.

2. Not release the Data, not even for safekeeping, to other persons, nor the aforementioned elaborations, evaluations or similar processes, nor to duplicate or reproduce in full or in part the information, results or relations of the Data.

3. Ensure that the Data is managed exclusively by the employees whose intervention is required for the purpose of the service.

4. Accept the controls that PROVIDA intends to carry out, within reason and without affecting the security of the systems or information of BBVA SERVICIOS, with regard to the compliance on behalf of BBVA SERVICIOS with what is established herein, and that PROVIDA may add to the submitted Data in the form of control records.

5. Once the objective of this Contract has finalized, to destroy the Data or, upon request of PROVIDA, return it to them, as well as all backups or documentation, without retaining any copy of it.

In addition to the aforementioned obligations, BBVA SERVICIOS is under the specific obligation to safeguard the Data, through legally required security measures, with technical and organizational methods that guarantee it, preventing its alteration, loss, or unauthorized treatment or access. To this end, BBVA SERVICIOS expressly declares that it has implemented effective security measures to safeguard the Data, whereby BBVA SERVICIOS is responsible for the loss and damage that may affect PROVIDA in case of noncompliance of the aforesaid measures.

FIFTY-FIRST: When the services rendered to PROVIDA require that BBVA SERVICIOS have access to equipment, networks and/or applications belonging to PROVIDA or to a person related to PROVIDA, BBVA SERVICIOS promises to respect the following conditions:

a. BBVA SERVICIOS shall use the equipment, networks and/or applications for the sole purpose of executing the services described in this Contract.

 

  

  

  

 

b. BBVA SERVICIOS agrees that its employees and third parties, for whom it is responsible, shall not violate or try to violate, any of the security systems of PROVIDA, nor obtain or try to obtain, access to any program or data not pertaining to them or those they have not been given access to. Moreover, BBVA SERVICIOS agrees that the aforesaid information must be considered as Confidential Information, as defined in this Contract.

c. BBVA SERVICIOS shall not intervene equipment nor basic software under any circumstance except that for what it was specifically contracted.

d. BBVA SERVICIOS declares that it is aware of and respects the prevailing Policies, Rules and Procedures for Information Security of PROVIDA.

FIFTY-SECOND: BBVA SERVICIOS shall submit the information owned by PROVIDA to the persons or entities indicated by the latter, and especially to its internal and external auditors and the SP. Likewise, BBVA SERVICIOS must at all times allow PROVIDA and/or any other company or entity it designates, for this purpose, to carry out any type of audit with regard to the services that are the subject-matter of the Contract hereunder, facilitating and collaborating in every way with PROVIDA and/or the entities designated to this effect. In case of the SP, BBVA SERVICIOS shall, at its expense, allow permanent access, either by visiting processing areas or via remote methods, to all data and information it processes, keeps and generates.

FIFTY-THIRD: BBVA SERVICIOS declares that it is aware of the regulation established by the Superintendence of Pensions in relation to the objective of the contract and that it is strictly applied, including its future modifications. By the same token, it expressly accepts the faculty of the Superintendence of Pensions to inspect under the terms established in N°16, article 94 of DL3.500, added by letter d) of N°64, article 91 of Law N°20.255 regarding the services it is contracted to render and promises to provide the necessary facilities to carry it out, either by forwarding supporting information and documentation that is required or else directly through the in-office inspection of documents, files or records that are incidental, and to respond, promptly and correctly, the requirements made directly by the Superintendence of Pensions or through PROVIDA.

In order to fulfill the aforementioned, PROVIDA is under the obligation to inform BBVA SERVICIOS the new instructions and modifications that are imparted on the subject with enough anticipation that allows implementing the changes required to this effect.

Likewise, BBVA SERVICIOS authorizes PROVIDA to inspect and audit the fulfilment of the procedures, the required standards and the safeguarding of the information.

FIFTY-FOURTH: BBVA SERVICIOS shall not discriminate in any way whatsoever the affiliates of PROVIDA with which the agreement is made, on the rendering of services that is the subject-matter of the Contract hereunder.

FIFTY-FIFTH: Although the services contracted are not critical or specific activities under the terms established in Circular 1539 of the SP, PROVIDA must, no later than March 2010, request a contingency plan from BBVA SERVICIOS for the services it deems are required, in order to ensure their continuity. BBVA SERVICIOS must, in this case, present within the month following notification of the requirement, a schedule to implement the aforementioned plan, for the approval from PROVIDA. In case PROVIDA corrects the contingency plan that is presented, BBVA SERVICIOS must rectify the observations within 60 days from the date of notification of the corrections, and must send the corrected Contingency Plan within the aforesaid period of time, for approval from PROVIDA.

H. GENERAL PROVISIONS:

FIFTY-SIXTH: Any doubt or difficulty that may arise between the parties regarding the interpretation, fulfillment, validity, termination or any other matter related to this Contract or to the documents that complement or modify it, and that the parties have not been able to resolve directly, must be resolved by an arbitrator appointed in common agreement between the parties. The parties in this act renounce to any appeal, complaint or any type of recourse against the judgement of the arbitrator, except for an appeal for complaint and an appeal for cassation, in form.

FIFTY-SEVENTH: The parties hereby state and agree on the following:

a. BBVA SERVICIOS declares that, according to its corporate purpose, it may only render services to companies of the BBVA Group.

b. This is not a Joint Venture: No part of this Contract shall be construed as to be believed a “Joint Venture”, company or relation of employment or of authority between the contracting parties or between them and any 

 

  

  

  

other, and none of the parties will be have the right, faculty or authorization to create an obligation or duty, either express or implicit, in representation of the other party.

c. Transfer: Neither one of the parties may transfer their rights nor obligations stated in the Contract hereunder without the previous written consent from the other party, without detriment to the subcontracting authorized in the Contract hereunder.

d. Compliance with the Law: All arrangements and activities developed by PROVIDA and BBVA SERVICIOS included in this Contract and in the related agreements entered into by the parties, must be executed and developed in compliance and strict subjection with the legal rules and regulations that govern the corporate purpose of PROVIDA in Chile so that neither party may request from the other to transgress the legal rules and regulations that govern the corporate purpose of PROVIDA in Chile nor claim ignorance of the aforesaid. If any legal or regulatory change is introduced that alters or adversely affects the expected result, both parties must make every effort to continue with this Contract in complete respect of the law. Otherwise, or in case there are legal impediments to comply with this Contract, it may be put to an early termination only under common agreement of all parties.

e. To introduce into the contract, if pertinent, any observations or corrections that the administrative authorities may counsel or institute.

f. Communications: Each and every one of the notifications or other communications or deliveries that must or may be made in compliance with the provisions of this Contract, are understood to apply to all pertinent purposes, once they have been remitted in writing, delivered by hand or sent by facsimile or e-mail, and always acknowledging receipt. The notifications and communications will be understood to have been made to either one of the parties of this Contract on the date on which they are delivered by hand, in case they are hand-delivered; or the same day if it were a business day or on the business day immediately after the date, if it were sent via facsimile or e-mail, in case they are sent by facsimile or e-mail.

g. Resignation: The fact that one party does not exercise any part of its rights under this Contract or delays in exercising any one of them will not constitute nor be considered to be a resignation or expiry of said rights. Resigning from a non-compliance of this Contract shall not be considered a resignation of future non-compliances. Any resignation must be made in writing and signed by the representative of each one of the parties.

h. Divisibility: If any clause, paragraph or part of this Contract is declared null and void, illegal or inapplicable for any reason, then all the other clauses, paragraphs or parts of this Contract that can remain effective without the null and void or illegal clause, paragraph or part will continue to be in force, provided that, however, the missing clause that is no longer in force (totally or partially) does not significantly affect or change the sense of this Contract.

i. The headings of the different clauses and/or paragraphs of the Contract hereunder have been incorporated only in order to facilitate the references contained herein, and do not form part of this Contract nor affect in any way its subsequent interpretation.

j. The Contract hereunder shall be governed by the laws of the Republic of Chile.

The legal capacity of Ms. María Paz Yáñez Macías and Mr. Rodrigo Peña Socías to represent the Administradora de Fondos de Pensiones Provida S.A., is set forth in the public deeds of January 28, 2008 and April 6, 2009, respectively, both granted in the office of Mr. Eduardo Avello Concha, Notary Public of Santiago. The legal capacities of which are not inserted as they are known by the contracting parties.

The legal capacity of Mr. Eduardo Meynet Biancardi to represent BBVA Servicios Corporativos Limitada is set forth in the public deed of December 11, 2009, granted in the office of Mr. Eduardo Avello Concha, Notary Public of Santiago. The legal capacity of which is not inserted as it is known by the contracting parties.

In witness of their agreement to the foregoing, the parties sign two copies of the Contract hereunder at the place and on the date first written above.

María Paz Yáñez Macías

pp. Administradora de Fondos de Pensiones Provida S.A.

  

  

  

Rodrigo Peña Socías

pp. Administradora de Fondos de Pensiones Provida S.A.

Eduardo Meynet Biancardi

pp. BBVA Servicios Corporativos Ltda.exv4w6

Exhibit
4.6

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT

This Amended and Restated Investors’ Rights Agreement (this “Agreement”) is made as of June
25, 2010, by and between Ceres, Inc., a Delaware corporation (the “Company”) and Rothschild
Trust Guernsey Limited as Trustee F/B/O The Ambergate Trust (“Trust”); Oxford Bioscience
Partners II, L.P. (“OBP II”); Oxford Bioscience Partners (Bermuda) II, Limited Partnership
(“OBP Bermuda”); Oxford Bioscience Partners (Adjunct) II, L.P. (“OBP Adjunct”);
Oxford Bioscience Partners (GS-Adjunct) II, L.P. (“GS-Adjunct”); Oxford Bioscience
Management Partners II (“Oxford Management”); The Robert B. Goldberg Revocable Living Trust
(“Goldberg”); Gimv N.V. (“Gimv); Adviesbeheer Gimv Life Sciences 2004 N.V.
(“Adviesbeheer”); Artal Luxembourg S.A. (“Artal”); Quantum Industrial Partners LDC,
a Cayman Island limited duration company (“Quantum”); SFM Domestic Investments LLC, a
Delaware limited liability company (“SFM”); H&Q Healthcare Investors, a Massachusetts
business trust (“H&Q Healthcare”); H&Q Life Sciences Investors, a Massachusetts business
trust (“H&Q Life Sciences”); Oppenheimer International Growth Fund, a Massachusetts
business trust (“Oppenheimer”); MassMutual International Equity Fund, a Massachusetts
business trust (“MassMutual”); KBC Private Equity Fund Biotech N.V. (“Biotech”);
KBC Private Equity N.V. (“KBC Private Equity”); Monsanto Company (“Monsanto”);
QuestMark Partners LP (“QuestMark”); Warburg Pincus Private Equity IX, L.P. (“Warburg
Pincus”); Galleon Diversified Fund, Ltd (“Galleon Diversified Fund”); Galleon
Technology Offshore, Ltd (“Galleon Technology Offshore”) and The Kiley Revocable Trust
(“Kiley”) (together, the “Stockholders”, and each individually, a “Stockholder”).

	 	1.	 	Registration Rights.
	 
	 	1.1	 	Certain Definitions:

	 	(a)	 	The term “register,” “registered” and
“registration” refer to a registration effected by preparing and filing
a registration statement or similar document in compliance with the Securities
Act of 1933, as amended (the “Act”), and the declaration or ordering of
effectiveness of such registration statement or document;
	 
	 	(b)	 	The term “Registrable Securities” means (i) the common stock,
par value $.01 per share of the Company (“Common Stock”) issuable or
issued upon conversion of the Series A Convertible Preferred Stock, par value
$.01 per share, of the Company (the “Series A Preferred Stock”), Series
B Convertible Preferred Stock, par value $.01 per share, of the Company (the
“Series B Preferred Stock”), Series C Convertible Preferred Stock, par
value $.01 per share, of the Company (the “Series C Preferred Stock”),
Series C-1 Convertible Preferred Stock, par value $.01 per share, of the
Company (the “Series C-1 Preferred Stock”), Series D Convertible
Preferred Stock, par value $.01 per share, of the Company (the “Series D
Preferred Stock”), Series E Convertible Preferred Stock, par value $.01 per
share, of the Company (the “Series E Preferred Stock”), Series F
Convertible Preferred Stock, par value $.01 per share, of the Company

 

 

	 	 	 	(the “Series F Preferred Stock”), and Series G Convertible Preferred
Stock, par value $.01 per share, of the Company (the “Series G Preferred
Stock”) or such other series of preferred stock issued by the Company
that is convertible into Common Stock (such preferred stock, together with
the Series A Preferred Stock, Series B Preferred Stock, Series C Preferred
Stock, Series C-1 Preferred Stock, Series D Preferred Stock, Series E
Preferred Stock, Series F Preferred Stock and Series G Preferred Stock, the
“Preferred Stock”) currently held or hereafter acquired by any
Stockholder, (ii) any Common Stock issued as (or issuable upon the
conversion or exercise of any warrant, right or other security which is
issued as) a dividend or other distribution with respect to, or in exchange
for or in replacement of, such Preferred Stock or Common Stock, excluding in
all cases, however, any Registrable Securities sold by a person in a
transaction in which his rights under this Agreement are not assigned, (iii)
all shares of Common Stock currently held or hereafter acquired by any
Stockholder, and (iv) Common Stock issuable upon the exercise of warrants
held by any Stockholder;

	 	(c)	 	The number of shares of “Registrable Securities then
outstanding” shall be determined by sum of (i) the number of shares of
Common Stock outstanding which are Registrable Securities and (ii) the number
of shares of Common Stock issuable pursuant to then exercisable or convertible
securities which are Registrable Securities;
	 
	 	(d)	 	The term “Holder” means any person owning or having the
right to acquire Registrable Securities or any assignee thereof in accordance
with Section 1.9 hereof; and
	 
	 	(e)	 	The term “Affiliate” means, in relation to a specified
person, a person that directly, or indirectly through one or more
intermediaries, controls or is controlled by, or is under common control with,
the person specified.

	 	1.2	 	Request for Registration.

	 	(a)	 	If the Company shall receive at any time six (6) months after
the effective date of the first registration statement for a public offering of
securities of the Company (other than a registration statement relating either
to the sale of securities to employees of the Company pursuant to a stock
option, stock purchase or similar plan or a SEC Rule 145 transaction), a
written request from the Holders of at least fifteen percent (15%) of the
Registrable Securities then outstanding that the Company file a registration
statement under the Act covering the registration of at least fifteen percent
(15%) of the Registrable Securities then outstanding then the Company shall:

          (i) within ten (10) days of the receipt thereof, give written notice of such
request to all Holders; and

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          (ii) effect as soon as practicable, and in any event within sixty (60) days of
the receipt of such request, the registration under the Act of all Registrable
Securities which the Holders request to be registered, subject to the limitations of
subsection 1.2(b).

	 	(b)	 	If the Holders initiating the registration request hereunder
(“Initiating Holders”) intend to distribute the Registrable Securities
covered by their request by means of an underwriting, they shall so advise the
Company as a part of their request made pursuant to subsection 1.2(a) and the
Company shall include such information in the written notice referred to in
subsection 1.2(a)(i). The underwriter will be selected by the Company and
shall be reasonably acceptable to a majority in interest of the Initiating
Holders. In such event, the right of any Holder to include his or its
Registrable Securities in such registration shall be conditioned upon such
Holder’s participation in such underwriting and the inclusion of such Holder’s
Registrable Securities in the underwriting (unless otherwise mutually agreed by
a majority in interest of the Initiating Holders and such Holder) to the extent
provided herein. All Holders proposing to distribute their securities through
such underwriting shall (together with the Company) enter into an underwriting
agreement in customary form with the underwriter or underwriters selected for
such underwriting. Notwithstanding any other provision of this Section 1.2, if
the underwriter advises the Initiating Holders in writing that marketing
factors require a limitation of the number of shares to be underwritten, then
the Initiating Holders shall so advise all Holders of Registrable Securities
which would otherwise be underwritten pursuant hereto, and the number of shares
of Registrable Securities that may be included in the underwriting shall be
allocated among all Holders thereof, including the Initiating Holders, in
proportion (as nearly as practicable) to the amount of Registrable Securities
of the Company owned by each Holder; provided, however, that
the number of shares of Registrable Securities to be included in such
underwriting shall not be reduced unless all other securities are first
entirely excluded from the underwriting.
	 
	 	(c)	 	Notwithstanding the foregoing, if the Company shall furnish to
Holders requesting a registration statement pursuant to this Section 1.2, a
certificate signed by the chief executive officer of the Company (the
“Chief Executive Officer”) stating that in the good faith judgment of
the board of directors of the Company (the “Board of Directors”), it
would be seriously detrimental to the Company and its shareholders for such
registration statement to be filed and it is therefore essential to defer the
filing of such registration statement, the Company shall have the right to
defer taking action with respect to such filing for a period of not more than
ninety (90) days after receipt of the request of the Initiating Holders;
provided, however, that the Company may not utilize this right
more than once in any twelve (12)-month period.

3

 

	 	(d)	 	In addition, the Company shall not be obligated to effect, or
to take any action to effect, any registration pursuant to this Section 1.2:

          (i) after the Company has effected five (5) registration statements under the
Securities Act, of which no more than three (3) registration statements may be on a
form other than Form S-3, pursuant to this Section 1.2 and such registration
statements have been declared or ordered effective by the SEC; or

          (ii) during the period starting with the date sixty (60) days prior to the
Company’s good faith estimate of the date of filing of, and ending on a date one
hundred eighty (180) days after the effective date of, a registration subject to
Section 1.3 hereof; provided that the Company is actively employing in good
faith all reasonable efforts to cause such registration statement to become
effective.

	 	1.3	 	“Piggyback” Registration. If (but without any obligation to do so) the
Company proposes to register (including for this purpose a registration effected by the
Company for stockholders other than the Holders) any of its stock or other securities
under the Act in connection with the public offering of such securities solely for cash
(other than a registration relating solely to the sale of securities to participants in
a Company stock plan, or a registration on any form which does not include
substantially the same information as would be required to be included in a
registration statement covering the sale of the Registrable Securities), the Company
shall, at such time, promptly give each Holder written notice of such registration.
Upon the written request of each Holder given within fifteen (15) days after mailing of
such notice by the Company in accordance with Section 2.1, the Company shall, subject
to the provisions of Section 1.6, cause to be registered under the Act all of the
Registrable Securities that each such Holder has requested to be registered.
	 
	 	1.4	 	Furnish Information. It shall be a condition precedent to the
obligations of the Company to take any action pursuant to this Agreement with respect
to the Registrable Securities of any selling Holder that such Holder shall furnish to
the Company such information regarding itself, the Registrable Securities held by it,
and the intended method of disposition of such securities as shall be required to
effect the registration of such Holder’s Registrable Securities.
	 
	 	1.5	 	Expenses of Company Registration. The Company shall bear and pay all
expenses incurred in connection with any registration, filing or qualification of
Registrable Securities with respect to registrations pursuant to Sections 1.2 and 1.3
for each Holder (which right may be assigned as provided in Section 1.9), including
(without limitation) all registration, filing and qualification fees, printers and
accounting fees relating or apportionable thereto and the reasonable fees and
disbursements of one counsel for the selling Holders selected by them, but excluding
underwriting discounts and commissions relating to Registrable Securities.

4

 

	 	1.6	 	Underwriting Requirements. In connection with any offering involving
an underwriting of shares of the Company’s capital stock, the Company shall not be
required under Section 1.3 to include any of the Holders’ securities in such
underwriting unless such Holders accept the terms of the underwriting as agreed upon
between the Company and the underwriters selected by the Company, and then only in such
quantity as will not, in the opinion of the underwriters, jeopardize the success of the
offering by the Company. If the total amount of securities, including Registrable
Securities, requested by stockholders to be included in such offering exceeds the
amount of securities sold other than by the Company that the underwriters reasonably
believe compatible with the success of the offering, then the Company shall be required
to include in the offering only that number of such securities, including Registrable
Securities, which the underwriters believe will not jeopardize the success of the
offering. In the event the underwriters limit the number of shares to be included, the
securities to be included in the offering shall be determined by a pro rata
apportionment among the selling stockholders, including parties entitled to similar
piggyback rights, according to the total amount of securities entitled to be included
therein owned by each selling stockholder or in such other proportions as shall
mutually be agreed to by such selling stockholders, including parties entitled to
similar piggyback rights; provided, however, in no event shall any
securities be included in the offering to the exclusion of Registrable Securities. For
purposes of the preceding provision concerning apportionment, for any selling
stockholder which is a Holder of Registrable Securities and which is a partnership or
corporation, the partners, retired partners, Affiliates and stockholders of such
Holder, or the estates and family members of any such partners and retired partners and
any trusts for the benefit of any of the foregoing persons shall be deemed to be a
single “selling stockholder,” and any pro rata reduction with respect to such “selling
stockholder” shall be based upon the aggregate amount of shares carrying registration
rights owned by all entities and individuals included in such “selling stockholder,” as
defined in this sentence.
	 
	 	1.7	 	Delay of Registration. No Holder shall have any right to obtain or
seek an injunction restraining or otherwise delaying any such registration as the
result of any controversy that might arise with respect to the interpretation or
implementation of this Agreement.
	 
	 	1.8	 	Indemnification. In the event any Registrable Securities are included
in a registration statement under this Agreement:

	 	(a)	 	To the extent permitted by law, the Company will indemnify and
hold harmless each Holder, any underwriter (as defined in the Act) for such
Holder and each person, if any, who controls such Holder or underwriter within
the meaning of the Act or the Securities Exchange Act of 1934, as amended (the
“1934 Act”), against any losses, claims, damages or liabilities (joint
or several) to which they may become subject under the Act, the 1934 Act or
other federal or state law, insofar as such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or

5

 

	 	 	 	are based upon any of the following statements, omissions or violations
(collectively, a “Violation”): (i) any untrue statement or alleged
untrue statement of a material fact contained in such registration
statement, including any preliminary prospectus or final prospectus
contained therein or any amendments or supplements thereto, (ii) the
omission or alleged omission to state therein a material fact required to be
stated therein, or necessary to make the statements therein not misleading,
or (iii) any violation or alleged violation by the Company of the Act, the
1934 Act, any state securities law or any rule or regulation promulgated
under the Act, the 1934 Act or any state securities law; and the Company
will reimburse each such Holder, underwriter or controlling person for any
legal or other expenses reasonably incurred by them in connection with
investigating or defending any such loss, claim, damage, liability or
action; provided, however, that the indemnity agreement
contained in this subsection 1.8(a) shall not apply to amounts paid in
settlement of any such loss, claim, damage, liability or action if such
settlement is effected without the consent of the Company (which consent
shall not be unreasonably withheld), nor shall the Company be liable in any
such case for any such loss, claim, damage, liability or action to the
extent that it arises out of or is based upon a Violation which occurs in
reliance upon and in conformity with written information furnished expressly
for use in connection with such registration by any such Holder, underwriter
or controlling person.

	 	(b)	 	To the extent permitted by law, each selling Holder will
indemnify and hold harmless the Company, each of its directors, each of its
officers who has signed the registration statement, each person, if any, who
controls the Company within the meaning of the Act, any underwriter, any other
Holder selling securities in such registration statement and any controlling
person of any such underwriter or other Holder, against any losses, claims,
damages or liabilities (joint or several) to which any of the foregoing persons
may become subject, under the Act, the 1934 Act or other federal or state law,
insofar as such losses, claims, damages or liabilities (or actions in respect
thereto) arise out of or are based upon any Violation, in each case to the
extent (and only to the extent) that such Violation occurs in reliance upon and
in conformity with written information furnished by such Holder expressly for
use in connection with such registration; and each such Holder will reimburse
any legal or other expenses reasonably incurred by any person intended to be
indemnified pursuant to this subsection 1.8(b), in connection with
investigating or defending any such loss, claim, damage, liability or action;
provided, however, that the indemnity agreement contained in
this subsection 1.8(b) shall not apply to amounts paid in settlement of any
such loss, claim, damage, liability or action if such settlement is effected
without the consent of the Holder, which consent shall not be unreasonably
withheld. In no event shall any indemnity under this subsection 1.8(b) exceed
the gross proceeds from the offering received by such Holder.

6

 

	 	(c)	 	Promptly after receipt by an indemnified party under this
Section 1.8 of notice of the commencement of any action (including any
governmental action), such indemnified party will, if a claim in respect
thereof is to be made against any indemnifying party under this Section 1.8,
deliver to the indemnifying party a written notice of the commencement thereof
and the indemnifying party shall have the right to participate in, and, to the
extent the indemnifying party so desires, jointly with any other indemnifying
party similarly noticed, to assume the defense thereof with counsel mutually
satisfactory to the parties; provided, however, that an
indemnified party shall have the right to retain its own counsel, with the fees
and expenses to be paid by the indemnifying party, if representation of such
indemnified party by the counsel retained by the indemnifying party would be
inappropriate due to actual or potential differing interests between such
indemnified party and any other party represented by such counsel in such
proceeding. The failure to deliver written notice to the indemnifying party
within a reasonable time of the commencement of any such action, if prejudicial
to its ability to defend such action, shall relieve such indemnifying party of
any liability to the indemnified party under this Section 1.8, but the omission
so to deliver written notice to the indemnifying party will not relieve it of
any liability that it may have to any indemnified party otherwise than under
this Section 1.8.
	 
	 	(d)	 	The obligations of the Company and Holders under this Section
1.8 shall survive the completion of any offering of Registrable Securities in a
registration statement under this Agreement.

	 	1.9	 	Assignment of Registration Rights. The rights to cause the Company to
register Registrable Securities pursuant to this Agreement may be assigned by a Holder
to a transferee or assignee of such Holder’s shares of Registrable Securities who,
after such assignment or transfer, holds at least fifty thousand (50,000) shares of
Registrable Securities (subject to appropriate adjustments for stock splits, stock
dividends, combinations and other recapitalizations), provided the Company is,
within a reasonable time after such transfer or assignment, furnished with written
notice of the name and address of such transferee or assignee and the securities with
respect to which such registration rights are being assigned; and provided,
further, that such assignment shall be effective only if immediately following
such transfer the further disposition of such securities by the transferee or assignee
is restricted under the Act. Any such assignee shall be subject to all rights and
obligations hereunder and, if requested by the Company, shall agree in writing to be
bound by the terms of this Agreement. For the purposes of determining the number of
shares of Registrable Securities held by a transferee or assignee, the holdings of
transferees and assignees of a partnership who are partners or retired partners of such
partnership (including spouses and ancestors, lineal descendants and siblings of such
partners or spouses who acquire Registrable Securities by gift, will or intestate
succession) shall be aggregated together and with the partnership; provided
that all assignees and transferees who would not qualify individually for assignment of
registration rights shall have a single attorney-in-

7

 

	 	 	 	fact for the purpose of exercising any rights, receiving notices or taking any
action under this Agreement.

	 	1.10	 	Limitations on Subsequent Registration Rights. From and after the date
of this Agreement, the Company shall not enter into any agreement with any holder or
prospective holder of any securities of the Company which would (a) allow such holder
or prospective holder to include such securities as Registrable Securities under this
Agreement or which would provide such holder or prospective holder with registration
rights under another agreement without the written consent of the Holders of a majority
of the Registrable Securities then outstanding, or (b) give such holder or prospective
holder the right to cause the Company to register such securities (whether under this
Agreement or another agreement) without the consent of the Holders of a majority of the
Registrable Securities then outstanding.
	 
	 	1.11	 	“Market Stand-Off” Agreement. Each Stockholder hereby agrees that
during the period of no more than ninety (90) days, or such longer period of duration
(but not to exceed one hundred eighty (180) days) as may be requested in writing by an
underwriter of Common Stock or other securities of the Company, following the effective
date of a registration statement of the Company filed under the Act, it shall not, to
the extent requested by the Company, sell or otherwise transfer or dispose of (other
than to donees who agree to be similarly bound) any Common Stock held by it at any time
during such period except Common Stock included in such registration; provided,
however, that such agreement shall be applicable only to the first such
registration statement of the Company which covers Common Stock (or other securities)
to be sold on its behalf to the public in an underwritten offering.

          In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions
with respect to the Registrable Securities of each Holder (and the shares or securities of every
other person subject to the foregoing restriction) until the end of such period.

	 	1.12	 	Termination of Registration Rights. No Holder shall be entitled to
exercise any right provided for in this Section 1 after the earlier of: (a) five (5)
years following the consummation of the sale of securities pursuant to a registration
statement filed by the Company under the Act in connection with the initial firm
commitment underwritten offering of its securities to the general public and (b) such
time as the Holder would be able to dispose of all of its Registrable Securities in any
three (3) month period under SEC Rule 144.

     2. Right of First Offer. Subject to the terms and conditions specified in this
Section 2 and the standstill agreement contained in Section 3 hereof, the Company hereby
grants to each Stockholder a right of first offer with respect to future sales by the
Company of its Stock (as hereinafter defined). For purposes of this Section 2, Stockholder
includes any general partners and Affiliates of a Stockholder provided, however,
notwithstanding Section 1.1(f) hereof, in the case of Monsanto the word “Affiliates” where
used in this Section 2 shall mean any wholly-owned subsidiary of

8

 

Monsanto. A Stockholder shall be entitled to apportion the right of first offer hereby
granted it among itself and its partners and Affiliates in such proportions as it deems
appropriate. Each time the Company proposes to offer any shares of, or securities
convertible into or exercisable for any shares of, any class of its capital stock
(“Stock”), the Company shall first make an offering of such Stock to each
Stockholder in accordance with the following provisions:

	 	(a)	 	The Company shall deliver a notice by United States Postal
Service registered or certified mail, Federal Express or United Parcel Service
(“Notice”) to the Stockholders stating (i) its bona fide intention to
offer such Stock, (ii) the number of shares of such Stock to be offered, and
(iii) the price and terms, if any, upon which it proposes to offer such Stock.
	 
	 	(b)	 	By written notification received by the Company, within ten
(10) calendar days after giving of the Notice, each Stockholder may elect to
purchase or obtain, at the price and on the terms specified in the Notice, up
to that portion of such shares of Stock which equals the proportion that the
number of shares of Common Stock issued and held, or issuable upon conversion
of the Preferred Stock then held, by such Stockholder bears to the total number
of shares of Common Stock then outstanding (assuming full conversion and
exercise of all convertible or exercisable securities). The Company shall
promptly, in writing, inform each Stockholder which purchases any portion of
the shares of Stock available to it (an “Exercising Stockholder”) of
any other Stockholders’ failure to do likewise. During the ten (10) day period
commencing after receipt of such information (the “Initial Pass-Around
Period”), each Exercising Stockholder shall be entitled to obtain that
portion of the shares of Stock not subscribed for by the Stockholders which is
equal to the proportion that the number of shares of Common Stock issued and
held, or issuable upon conversion of Preferred Stock then held, by such
Exercising Stockholder bears to the total number of shares of Common Stock
issued and held, or issuable upon conversion of the Preferred Stock then held,
by all Exercising Stockholders who wish to purchase some of the unsubscribed
shares. After the expiration of the Initial Pass-Around Period, the Company
shall promptly, in writing, inform each Stockholder which purchases any portion
of the shares of Stock available to it during the Initial Pass-Around Period of
any other Stockholders’ failure to do likewise. During the ten (10) day period
commencing after receipt of such information, each Exercising Stockholder shall
be entitled to obtain that portion of the shares of Stock not subscribed for by
the Stockholders during the Initial Pass-Around Period which is equal to the
proportion that the number of shares of Common Stock issued and held, or
issuable upon conversion of Preferred Stock then held, by such Exercising
Stockholder bears to the total number of shares of Common Stock issued and
held, or issuable upon conversion of the Preferred Stock then held, by all
Exercising Stockholders who wish to purchase some of the unsubscribed shares.

9

 

	 	(c)	 	If all shares of Stock which Stockholders are entitled to
obtain pursuant to subsection 2(b) are not elected to be obtained as provided
in subsection 2(b) hereof, the Company may, during the ninety (90) day period
following the expiration of the period provided in subsection 2(b) hereof,
offer the remaining unsubscribed portion of such shares of Stock to any person
or persons at a price not less than, and upon terms no more favorable to the
offeree than those specified in the Notice. If the Company does not enter into
an agreement for the sale of the shares of Stock within such period, or if such
agreement is not consummated within ninety (90) days of the execution thereof,
the right provided hereunder shall be deemed to be revoked and such shares of
Stock shall not be offered unless first reoffered to the Stockholders in
accordance herewith.
	 
	 	(d)	 	The right of first offer in this Section 2 shall not be
applicable (i) to the issuance or sale of shares of Common Stock (or options
therefor) to the Company’s employees, directors or consultants for the primary
purpose of soliciting or retaining their employment or services, (ii) to or
after consummation of a bona fide, firmly underwritten public offering of
shares of common stock, registered under the Act pursuant to a registration
statement on Form S-1, (iii) the issuance of securities pursuant to the
conversion or exercise of convertible or exercisable securities, including any
warrants and any shares of outstanding Preferred Stock, (iv) the issuance of
securities in connection with a bona fide business acquisition of or by the
Company, whether by merger, consolidation, sale of assets, sale or exchange of
stock or otherwise, (v) the issuance of stock, warrants or other securities or
rights to persons or entities with which the Company has business
relationships, provided such issuances are for other than primarily
equity financing purposes and provided that at the time of any such
issuance, the aggregate of such issuance and similar issuances in the preceding
twelve (12) month period do not exceed five percent (5%) of the then
outstanding Common Stock (assuming full conversion and exercise of all
convertible and exercisable securities), or (vi) the issuance of shares of
Series G Preferred Stock (or Common Stock issuable upon the conversion of such
Series G Preferred Stock) issued or issuable pursuant to that certain Series G
Preferred Stock Purchase Agreement of even date herewith (the “Series G
Stock Purchase Agreement”).
	 
	 	(e)	 	The right of first offer set forth in this Section 2 may not be
assigned or transferred, except that (i) such right is assignable by each
Holder to any wholly owned subsidiary or parent of, or to any corporation or
entity that is, within the meaning of the Act, controlling, controlled by or
under common control with, any such Holder, (ii) such right is assignable
between and among any of the Holders, (iii) such right is assignable by each
Holder to a trust established by such Holder, and (vi) such right may be
assigned by a Holder to a transferee or assignee of such Holder’s shares of
Registrable Securities who, after such assignment or transfer, holds at least
fifty thousand (50,000) shares of Registrable Securities (subject to

10

 

	 	 	 	appropriate adjustments for stock splits, stock dividends, combinations and
other recapitalizations), provided the Company is, within a
reasonable time after such transfer or assignment, furnished with written
notice of the name and address of such transferee or assignee and the
securities with respect to which such rights of first offer are being
assigned; and provided, further, that such assignment shall
be effective only if immediately following such transfer the further
disposition of such securities by the transferee or assignee is restricted
under the Act. Any such assignee shall be subject to all rights and
obligations hereunder and, if requested by the Company, shall agree in
writing to be bound by the terms of this Agreement. For the purposes of
determining the number of shares of Registrable Securities held by a
transferee or assignee, the holdings of transferees and assignees of a
partnership who are partners or retired partners of such partnership
(including spouses and ancestors, lineal descendants and siblings of such
partners or spouses who acquire Registrable Securities by gift, will or
intestate succession) shall be aggregated together and with the partnership;
provided that all assignees and transferees who would not qualify
individually for assignment of registration rights shall have a single
attorney-in-fact for the purpose of exercising any rights, receiving notices
or taking any action under this Agreement.

	 	(f)	 	The right of first offer set forth in this Section 2 shall
expire upon the consummation of a bona fide, firmly underwritten public
offering of shares of Common Stock of the Company, registered under the Act
pursuant to a registration statement on Form S-1.
	 
	 	(g)	 	To the extent that any Exercising Stockholder is required by
law to make a filing or comply with a waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the
“Hard-Scott-Rodino Act”), in connection with such Exercising
Stockholder’s exercise of its rights under this Section 2, the closing of any
such purchase by such Exercising Stockholder shall be extended by a period of
up to fifty (50) days from the date of the Company’s Notice pursuant to Section
2(a), and the Company and such Exercising Stockholder shall use commercially
reasonable efforts to comply with such Act, to the extent required by law in
order to enable such Exercising Stockholder to exercise its rights hereunder at
the expense of such Exercising Stockholder; provided, however,
that in the event that such Exercising Stockholder has not received the
required clearance under the Hard-Scott-Rodino Act by the expiration of such
fifty (50) day period, such Exercising Stockholder shall be deemed to have
declined the exercise of its rights under this Section 2.

	 	3.	 	Standstill.

	 	(a)	 	Monsanto will not, directly or indirectly, without the prior
consent of a majority of the Board of Directors of the Company
(“Board”), (i) acquire

11

 

	 	 	 	(or offer or agree to acquire) any additional Voting Stock (as defined
below) if, as a result, Monsanto would beneficially own more than 15% (on a
fully diluted basis) of the then outstanding Voting Stock; or (ii) directly
or indirectly solicit proxies or consents or become a participant in a
solicitation (as such terms are defined in Regulation 14A under the 1934
Act) in opposition to the recommendation of the majority of the Board
(subject to the terms of the Amended and Restated Voting Agreement of even
date herewith (the “Voting Agreement”)). Notwithstanding the
foregoing, Monsanto will not be obligated to dispose of any Voting Stock it
owns or otherwise acquires in a transaction which does not violate the terms
of this standstill provision.

	 	(b)	 	Monsanto will cause its Affiliates (as defined in Section
1.1(f)) to comply with the provisions of this Section 3, whether directly or
indirectly, individually or as part of a “group” (as such term is defined in
Rule 13d-5 under the 1934 Act). When used in this Section 3, the term Monsanto
includes Monsanto together with its Affiliates (as defined in Section 1.1(f)).
	 
	 	(c)	 	The standstill provisions contained in this Section 3 shall not
apply to any transaction in which a Monsanto Competitor makes a bona fide
written offer, or directly or indirectly solicit proxies or consents or becomes
a participant in a solicitation (as such terms are defined in Regulation 14A
under the 1934 Act), to acquire shares of Voting Stock, which following
consummation of such acquisition, would result in a Monsanto Competitor
beneficially owning more than 50% of then outstanding Voting Stock on a fully
diluted basis or otherwise obtaining control (as such term is defined in Rule
12b-2 under the 1934 Act) of the Company.
	 
	 	(d)	 	For purposes of this Section 3, the term “Voting Stock”
means the Common Stock and any preferred stock of the Company possessing voting
rights and eligible to participate in votes of all of the Company’s
stockholders pursuant to the Company’s Certificate of Incorporation and
Delaware law, and includes any options, convertible securities or other rights
to acquire such stock.
	 
	 	(e)	 	For purposes of this Section 3, the term “Monsanto
Competitor” means any of Delta and Pineland Company, E.I. DuPont de Nemours
and Company, Dow Chemical Company, Aventis Cropscience S.A., Syngenta AG, BASF
AG, Bayer AG, Societe Cooperative Agricole Limagrain, Advanta Seeds BV and KWS
Kleinwanzlebener Saatzucht AG, and any entity that acquires (i) all or
substantially the equity interests, assets or business of any Monsanto
Competitor, whether directly or indirectly, through purchase, merger,
consolidation or otherwise or (ii) any division or Affiliate (as defined in
Section 1.1(f)) of a Monsanto Competitor having revenues or net assets of at
least $20 million or at least 200 employees that develops, produces, markets,
and sells, plant protection

12

 

	 	 	 	products, seed and other plan propagation products, or other technologies
that are useful for the production or modification of Monsanto Crops.

	 	4.	 	Miscellaneous.
	 
	 	4.1	 	Notices. Unless otherwise provided, any notice required or permitted
under this Agreement shall be given in writing and shall be deemed effectively given
upon personal delivery to the party to be notified, five (5) days after deposit in the
United States mail by registered, certified or express mail or three (3) days after
deposit with Federal Express or the United Parcel Service for overnight delivery
addressed to the party to be notified at the address indicated for such party on the
books of the Company, or at such other address as such party may designate by ten (10)
days’ advance written notice to the other parties.
	 
	 	4.2	 	Entire Agreement. This Agreement represents the entire agreement
between and among the Stockholders and the Company with respect to the subject matter
hereof and supersedes any prior written or oral agreements concerning the same
(including, without limitation, the Amended and Restated Investors’ Rights Agreement
dated September 5, 2007, as amended, which agreement shall no longer be of any force or
effect and will not bind the parties thereto); provided, however, that
the effectiveness of this Agreement is conditioned upon the closing of the transactions
contemplated by the Series G Stock Purchase Agreement.
	 
	 	4.3	 	Governing Law. This Agreement shall be governed by and construed under
the laws of the State of Delaware without giving effect to conflicts of laws
principles.
	 
	 	4.4	 	Severability. If one or more provisions of this Agreement are held to
be unenforceable under applicable law, such provisions shall be excluded from this
Agreement and the balance of the Agreement shall be interpreted as if such provision
were so excluded and shall be enforceable in accordance with its terms.
	 
	 	4.5	 	Amendments and Waivers. Any provision of this Agreement may be amended
and the observance thereof may be waived (either generally or in a particular instance
and either retroactively or prospectively), only with the written consent of the
Company and the Holders of no less than seventy percent (70%) of the Registrable
Securities then outstanding. Notwithstanding the foregoing, this Agreement may not be
amended or terminated and the observance of any term hereof may not be waived with
respect to any Holder of Registrable Securities then outstanding without the written
consent of such Holder, unless such amendment, termination, or waiver applies to all
Holders of Registrable Securities then outstanding in the same fashion. Any amendment
or waiver effected in accordance with this paragraph shall be binding upon each Holder
of any Registrable Securities then outstanding, each future Holder of all such
Registrable Securities and the Company.

13

 

	 	4.6	 	Successors and Assigns. This Agreement and the rights and obligations
of the parties hereunder shall inure to the benefit of, and be binding upon, their
respective successors, assigns and legal representatives.
	 
	 	4.7	 	Counterparts. This Agreement may be executed in counterparts, each of
which shall be deemed an original, but all of which together constitute one and the
same instrument.

[Remainder of Page Intentionally Left Blank]

14

 

          IN WITNESS WHEREOF, the Company and each Stockholder have executed this Amended and Restated
Investors’ Rights Agreement to be effective on the date first above written.

	 	 	 	 	 	 	 	 	 

	 	 	“COMPANY”	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	CERES, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	  	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: Richard W. Hamilton, Ph.D.	 	 
	 

	 	 	 	 	 	Title: President and Chief Executive Officer	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	“STOCKHOLDERS”	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	ROTHSCHILD TRUST GUERNSEY LIMITED AS TRUSTEE F/B/O
THE AMBERGATE TRUST	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	/s/
 AF Cranchi          /s/  SR Lowe	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 AF Cranchi                 SR Lowe	 	 
	 

	 	 	 	Title:	 	Assistant Director       Manager	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Address:	 	St. Peter’s House	 	 
	 

	 	 	 	 	 	Le Bordage	 	 
	 
	 	 	 	 	 	St. Peter Port	 	 
	 

	 	 	 	 	 	Guernsey	 	 
	 
	 	 	 	 	 	GY1 6AX	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	OXFORD BIOSCIENCE PARTNERS II, L.P.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	    	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	Address:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Investors’ Rights Agreement

Signature Page

 

 

          IN WITNESS WHEREOF, the Company and each Stockholder have executed this Amended and Restated
Investors’ Rights Agreement to be effective on the date first above written.

	 	 	 	 	 	 	 	 	 

	 	 	“COMPANY”	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	CERES, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	/s/   Richard W. Hamilton	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: Richard W. Hamilton, Ph.D.	 	 
	 

	 	 	 	 	 	Title: President and Chief Executive Officer	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	“STOCKHOLDERS”	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	ROTHSCHILD TRUST GUERNSEY LIMITED AS TRUSTEE F/B/O
THE AMBERGATE TRUST	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	/s/  Stephen Lowe     /s/  Anne le Cheminant	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 Stephen Lowe           Anne le Cheminant	 	 
	 

	 	 	 	Title:	 	Authorized Signatures	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Address:	 	St. Peter’s House	 	 
	 

	 	 	 	 	 	Le Bordage	 	 
	 
	 	 	 	 	 	St. Peter Port	 	 
	 

	 	 	 	 	 	Guernsey	 	 
	 
	 	 	 	 	 	GY1 6AX	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	OXFORD BIOSCIENCE PARTNERS II, L.P.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	/s/  E. M. Olivier	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	E. M. Olivier	 	 
	 

	 	 	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	Address:	 	30765 Pacific Coast Highway 	 	 
	 

	 	 	 	 	 	Malibu, CA 90265 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Investors’ Rights Agreement

Signature Page

 

 

	 	 	 	 	 	 	 

	 	 	OXFORD BIOSCIENCE PARTNERS (BERMUDA) II, LIMITED
PARTNERSHIP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  E. M. Olivier	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	E. M. Olivier	 	 
	 

	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	30765 Pacific Coast Highway	 	 
	 

	 	 	 	Malibu, CA 90265	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	OXFORD BIOSCIENCE PARTNERS	 	 
	 	 	(ADJUNCT) II, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  E. M. Olivier	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	E. M. Olivier	 	 
	 

	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	30765 Pacific Coast Highway

Malibu, CA 90265	 	 
	 
	 	 	 	 	 	 
	 	 	OXFORD BIOSCIENCE MANAGEMENT PARTNERS II	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  E. M. Olivier 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	E. M. Olivier	 	 
	 

	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	30765 Pacific Coast Highway	 	 
	 

	 	 	 	Malibu, CA 90265	 	 
	 
	 	 	 	 	 	 
	 	 	OXFORD BIOSCIENCE PARTNERS	 	 
	 	 	(GS-ADJUNCT) II, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  E. M. Olivier	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	E. M. Olivier	 	 
	 

	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	30765 Pacific Coast Highway	 	 
	 

	 	 	 	Malibu, CA 90265	 	 

Investors’ Rights Agreement

Signature Page

 

 

	 	 	 	 	 	 	 

	 	 	THE ROBERT B. GOLDBERG REVOCABLE LIVING TRUST	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Robert Goldberg	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Robert Goldberg	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	GIMV N.V.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Koen Dejonckheere	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Koen Dejonckheere	 	 
	 

	 	Title:	 	CFO	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	Karel Oomsstraat 37

2018 Antwerp

Belgium	 	 
	 
	 	 	 	 	 	 
	 	 	ADVIESBEHEER GIMV	 	 
	 	 	LIFE SCIENCES 2004 N.V.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Koen Dejonckheere	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Koen Dejonckheere	 	 
	 

	 	Title:	 	CFO	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Marc Vercruyesse	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Marc Vercruyesse	 	 
	 

	 	Title:	 	Director	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	Karel Oomsstraat 37

2018 Antwerp

Belgium	 	 
	 
	 	 	 	 	 	 
	 	 	ARTAL LUXEMBOURG S.A.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Anne Goffard	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Anne Goffard	 	 
	 

	 	Title:	 	Managing Director	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	105 Grand Rue

L-1661 Luxembourg

Grand Duchy   of Luxembourg	 	 

Investors’ Rights Agreement

Signature Page

 

 

	 	 	 	 	 	 	 

	 	 	QUANTUM INDUSTRIAL PARTNERS LDC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Jay A. Schoenfarber	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Jay A. Schoenfarber	 	 
	 

	 	Title:	 	Attorney-in-Fact	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	SFM DOMESTIC INVESTMENTS LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Jay A. Schoenfarber	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Jay A. Schoenfarber	 	 
	 

	 	Title:	 	Attorney-in-Fact	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	KBC PRIVATE EQUITY FUND BIOTECH N.V. (in vereffening)	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Peter Verhaeghe	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Peter Verhaeghe	 	 
	 

	 	Title:	 	Liquidator	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	Havenlaan 12

1080 Brussels	 	 
	 
	 	 	 	 	 	 
	 	 	KBC PRIVATE EQUITY N.V.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Ann de Meulenaere    /s/  Floris Vansina	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Ann de Meulenaere          Floris Vansina	 	 
	 

	 	Title:	 	Legal Advisor                   Managing Director	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 

Investors’ Rights Agreement

Signature Page

 

 

	 	 	 	 	 	 	 

	 	 	H&Q HEALTHCARE INVESTORS	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Laura Woodward	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Laura Woodward	 	 
	 

	 	Title:	 	Treasurer	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	2 Liberty Square

Boston, MA 02109	 	 

Limitation of Liability. The name H&Q Healthcare Investors is the designation of the
Trustees for the time being under an Amended and Restated Declaration of Trust dated April 21,
1987, as amended, and all persons dealing with H&Q Healthcare Investors must look solely to the
trust property for the enforcement of any claim against H&Q Healthcare Investors, as neither the
Trustees, officers nor shareholders assume any personal liability for obligations entered into on
behalf of H&Q Healthcare Investors.

	 	 	 	 	 	 	 

	 	 	H&Q LIFE SCIENCES INVESTORS	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Laura Woodward	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Laura Woodward	 	 
	 

	 	Title:	 	Treasurer	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	2 Liberty Square

Boston, MA 02109	 	 

Limitation of Liability. The name H&Q Life Sciences Investors is the designation of
the Trustees for the time being under an Amended and Restated Declaration of Trust dated February
20, 1992, as amended, and all persons dealing with H&Q Life Sciences Investors must look solely to
the trust property for the enforcement of any claim against H&Q Life Sciences Investors, as neither
the Trustees, officers nor shareholders assume any personal liability for obligations entered into
on behalf of H&Q Life Sciences Investors.

	 	 	 	 	 	 	 

	 	 	OPPENHEIMER INTERNATIONAL GROWTH FUND	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ George Evans	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	George Evans	 	 
	 

	 	Title:	 	VP	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 

Limitation of Liability. The name Oppenheimer International Growth Fund is the
designation of the Trustees for the time being under an Amendment No. 2 to the Declaration of Trust
dated August 12, 2005, as amended, and all persons dealing with Oppenheimer International Growth
Fund must look solely to the trust property for the enforcement of any claim against Oppenheimer
International Growth Fund, as neither the Trustees, officers nor shareholders assume any personal
liability for obligations entered into on behalf of Oppenheimer International Growth Fund.

Investors’ Rights Agreement

Signature Page

 

 

	 	 	 	 	 	 	 

	 	 	MASSMUTUAL INTERNATIONAL EQUITY FUND	 	 
	 
	 	 	 	 	 	 
	 	 	By: OFI Institutional Asset Management, Inc., as
sub-advisor to MassMutual International Equity Fund	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  George Evans	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	George Evans	 	 
	 

	 	Title:	 	P.M., S.V.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	2 World Financial Center

225 Liberty Street 

New York, NY 10281	 	 

Limitation of Liability. The name MassMutual Premier International Equity Fund is the
designation of the Trustees for the time being under an Amendment No. 19 to the Declaration of
Trust dated September 14, 2006, as amended, and all persons dealing with MassMutual Premier
International Equity Fund must look solely to the trust property for the enforcement of any claim
against MassMutual Premier International Equity Fund, as neither the Trustees, officers nor
shareholders assume any personal liability for obligations entered into on behalf of MassMutual
Premier International Equity Fund.

	 	 	 	 	 	 	 

	 	 	MONSANTO COMPANY	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Jennifer L. Woods	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Jennifer L. Woods	 	 
	 

	 	Title:	 	Assistant General Counsel	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	800 N. Lindbergh Blvd.

St. Louis, Missouri 63167	 	 
	 
	 	 	 	 	 	 
	 	 	QUESTMARK PARTNERS LP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Benjamin S. Schapiro	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Benjamin S. Schapiro	 	 
	 

	 	Title:	 	Chairman & CEO	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	Suite 800
One South Street

Baltimore, MD 21202	 	 

Investors’ Rights Agreement

Signature Page

 

 

	 	 	 	 	 	 	 

	 	 	WARBURG PINCUS PRIVATE EQUITY IX, L.P.	 	 
	 
	 	 	 	 	 	 
	 	 	By: Warburg Pincus IX, LLC, its General Partner	 	 
	 
	 	 	 	 	 	 
	 	 	By: Warburg Pincus Partners, LLC, its Sole Member	 	 
	 
	 	 	 	 	 	 
	 	 	By: Warburg Pincus & Co., its Managing Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Chansoo Joung	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Chansoo Joung	 	 
	 

	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	450 Lexington Avenue

New York, NY 10015	 	 
	 
	 	 	 	 	 	 
	 	 	GALLEON DIVERSIFIED FUND, LTD	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Carolyn A. Miller	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Carolyn A. Miller, Esq.	 	 
	 

	 	Title:	 	Chief Legal Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	575 Madison Avenue

24th floor

New York, NY 10022	 	 
	 
	 	 	 	 	 	 
	 	 	GALLEON TECHNOLOGY OFFSHORE, LTD	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Carolyn A. Miller	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Carolyn A. Miller, Esq.	 	 
	 

	 	Title:	 	Chief Legal Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	575 Madison Avenue

24th floor

New York, NY 10022	 	 
	 
	 	 	 	 	 	 
	 	 	THE KILEY REVOCABLE TRUST	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Thomas D. Kiley	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Thomas D. Kiley	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	986 Baileyana Road

Hillsborough, CA 94010	 	 

Investors’ Rights Agreement

Signature Page

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