Document:

ex10_13.htm

    
      

    

    EXHIBIT
10.13

    

     

    [Standard Form of Restricted Stock
Agreement]

     

    LINCOLN
EDUCATIONAL SERVICES CORPORATION

    2005
LONG-TERM INCENTIVE PLAN

     

    RESTRICTED
STOCK AGREEMENT

    

    

    Date of
Award:   __________________

     

    Participant:          
 __________________

     

    Lincoln Educational Services
Corporation (the “Company”) hereby
grants the Participant [_____] shares of restricted common stock of the Company
(the “Restricted
Shares”), pursuant to the provisions of the Company’s 2005 Long-Term
Incentive Plan (the “Plan”).

     

    This
grant of the Restricted Shares shall be subject to the terms and conditions of
the Plan and this Award Agreement, including, but not limited to, the transfer
restrictions set forth in Section C hereof and the cancellation provisions of
Section B hereof.  The Plan provides a complete description of the
terms and conditions governing all Awards granted thereunder.  This
Award Agreement is subject to the terms and conditions of the Plan, as amended
from time to time, and to such rules and regulations as the Committee may adopt
under the Plan.  If there is any inconsistency between the Plan and
this Award Agreement, the Plan’s terms (or applicable rules and regulations of
the Committee) shall control and supersede and replace any terms of this Award
Agreement that conflict with the terms of the Plan.

     

    All
capitalized terms shall have the meanings ascribed to them in the Plan, unless
specifically set forth otherwise herein.

     

    
      	
               
      

            	
              (A)

            	
              Vesting
      Schedule.

            

    

     

    
      	
               
      

            	
              (1)

            	
              Subject
      to the Participant’s continued employment with the Company and its
      Subsidiaries (the “Company
      Group”), [ ____ ] of the Restricted Shares shall vest on [ ____ ]
      (each, a “Vesting
      Date”).  Any fractional Restricted Shares resulting from
      the application of the vesting schedule shall be aggregated and the
      Restricted Shares resulting from such aggregation shall vest [
      ____].

            

    

     

    
      	
               
      

            	
              (2)

            	
              Upon
      vesting, the Restricted Shares shall no longer be subject to the transfer
      restrictions pursuant to Section C or cancellation pursuant to Section
      B.

            

    

     

    
      	
               
      

            	
              (B)

            	
              Termination of
      Employment and Change in Control.  Unless otherwise set
      forth in an employment agreement between the Company and the Participant
      in effect as of the Date of Grant, if, prior to a Vesting Date, the
      Participant’s employment with the Company Group terminates for any reason,
      the unvested Restricted Shares shall be cancelled immediately and the
      Participant shall immediately forfeit any rights to the Restricted Shares;
      provided,
      however,
      that in accordance with Section 6(c) of the Plan, the  Committee
      may elect, in its sole discretion, prior to or in connection with such
      termination of employment, or upon a Change in Control, to provide for the
      vesting and payment of some or all of the Participant’s then outstanding
      Restricted Shares.

            

    

     

    
      	
               
      

            	
              (C)

            	
              Transferability.  Pursuant
      to Section 12 of the Plan, the Restricted Shares are not transferable
      other than by last will and testament or by the laws of descent and
      distribution, and the Participant’s rights under this Award Agreement
      shall be exercisable during the Participant’s lifetime by the Participant
      only.

            

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    
      	
               
      

            	
              (D)

            	
              Rights as a
      Stockholder.  The Participant shall have, with respect to
      the Restricted Shares, all the rights of a stockholder of the Company,
      including, if applicable, the right to vote the Restricted Shares and to
      receive any dividends, subject to the restrictions set forth in the Plan
      and this Award Agreement.

            

    

     

     

    
      	
               
      

            	
              (E)

            	
              Dividends and
      Distributions.  Any shares of Common Stock or other
      securities of the Company received by the Participant as a result of a
      distribution to holders of Restricted Shares or as a dividend on the
      Restricted Shares shall be subject to the same restrictions as the related
      Restricted Shares, and all references to Restricted Shares hereunder shall
      be deemed to include such shares of Common Stock or other
      securities.

            

    

     

    
      	
               
      

            	
              (F)

            	
              Share
      Certificates.  The certificate representing the shares of
      Common Stock covered by the Restricted Shares shall be held in custody by
      the Company until the restrictions thereon shall have
      lapsed.  As a condition of the award of Restricted Shares, the
      Participant shall deliver to the Company a stock power, endorsed in blank,
      relating to such shares of Common Stock.  The Committee may
      cause a legend or legends to be put on the certificate to make appropriate
      reference to such restrictions as the Committee may deem advisable under
      the Plan or as may be required by the rules, regulations, and other
      requirements of the Securities and Exchange Commission, any exchange that
      lists the shares of Common Stock, and any applicable federal or state
      laws.

            

    

     

    
      	
               
      

            	
              (G)

            	
              No
      Entitlements

            

    

     

    
      	
               
      

            	
              (1)

            	
              The
      Restricted Shares are discretionary awards.  Neither this Award
      Agreement nor the Plan confers on the Participant any right or entitlement
      to receive compensation or bonus in any specific amount for any future
      fiscal year (including, without limitation, any grants of future Awards
      under the Plan) and do not impact in any way the Company Group’s
      determination of the amount, if any, of the Participant’s compensation or
      bonus.  The Restricted Shares do not constitute salary, wages,
      regular compensation, recurrent compensation or contractual compensation
      for the year of grant or any later year and shall not be included in, nor
      have any effect on, the determination of employment-related rights or
      benefits under law or any employee benefit plan or similar arrangement
      provided by the Company Group (including, without limitation, severance,
      termination of employment and pension benefits), unless otherwise
      specifically provided for under the terms of such plan or arrangement or
      by the Company Group.  The benefits provided pursuant to the
      Restricted Shares are in no way secured, guaranteed or warranted by
      Company Group.

            

    

     

    
      	
               
      

            	
              (2)

            	
              The
      Restricted Shares are awarded to the Participant by virtue of the
      Participant’s employment with, and services performed for, the Company
      Group.  Neither this Award Agreement nor the Plan constitutes an
      employment agreement.  Nothing in either this Award Agreement or
      the Plan shall modify the terms of the Participant’s
      employment.

            

    

     

    
      	
               
      

            	
              (3)

            	
              Subject
      to the terms of any applicable employment agreement, the Company reserves
      the right to change the terms and conditions of the Participant’s
      employment, including the division, subsidiary or department in which the
      Participant is employed.  This Award Agreement, the Plan, the
      grant of Restricted Shares, and/or any action taken or omitted to be taken
      under this Award Agreement or the Plan shall not be deemed to create or
      confer on the Participant any right to be retained in the employ of the
      Company Group, or to interfere with or to limit in any way the right of
      the Company Group to terminate the Participant’s employment at any
      time.  Moreover, the termination of employment provisions set
      forth in Section (B) only apply to the treatment of the Restricted Shares
      in the specified circumstances and shall not otherwise affect the
      Participant’s employment relationship.  By accepting this Award
      Agreement, the Participant waives any and all rights to compensation or
      damages in consequence of the termination of the Participant’s office or
      employment for any reason whatsoever insofar as those rights arise or may
      arise from the Participant’s ceasing to have rights under, or be entitled
      to receive payment in respect of, the Restricted Shares as a result of
      such termination, or from the loss or diminution in value of such rights
      or entitlements.  This waiver applies whether or not such
      termination amounts to a wrongful discharge or unfair
      dismissal.

            

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (H)

            	
              Miscellaneous.

            

    

     

    
      	
               
      

            	
              (1)

            	
              The
      Committee shall have the right to impose such restrictions on the
      Restricted Shares as it deems necessary or advisable under applicable
      federal securities laws, the rules and regulations of any stock exchange
      or market upon which such Shares are then listed and/or traded, and/or
      under any blue sky or state securities laws applicable to such
      Shares.  It is expressly understood that the Committee is
      authorized to administer, construe, and make all determinations necessary
      or appropriate to administer the Plan and this Award Agreement, all of
      which shall be binding upon the
Participant.

            

    

     

    
      	
               
      

            	
              (2)

            	
              The
      Board may, at any time, or from time to time, terminate, amend, modify or
      suspend the Plan, and the Board or the Committee may amend or modify this
      Award Agreement at any time; provided, however, that
      no termination, amendment, modification or suspension shall materially and
      adversely alter or impair the rights of the Participant under this Award
      Agreement without the Participant’s written
  consent.

            

    

     

    
      	
               
      

            	
              (3)

            	
              Shares
      of restricted stock are not subject to Section 409A of the Internal
      Revenue Code of 1986, as amended (“Section
      409A”).  Notwithstanding the forgoing or any provision of
      the Plan or this Award Agreement, if any provision of this Award Agreement
      or the Plan contravenes Section 409A or could cause the Participant to
      incur any tax, interest or penalties under Section 409A, the Committee
      may, in its sole discretion and without the Participant’s consent, modify
      such provision to (i) comply with, or avoid being subject to, Section
      409A, or to avoid the incurrence of any taxes, interest and penalties
      under Section 409A, and/or (ii) maintain, to the maximum extent
      practicable, the original intent and economic benefit to the Participant
      of the applicable provision without materially increasing the cost to the
      Company or contravening the provisions of Section 409A.  This
      Section (H)(3) does not create an obligation on the part of the Company to
      modify the Plan or this Award Agreement and does not guarantee that the
      Restricted Shares will not be subject to taxes, interest and penalties
      under Section 409A.

            

    

     

    
      	
               
      

            	
              (4)

            	
              Vesting
      of the Restricted Shares shall be subject to the Participant satisfying
      all applicable federal, state, local and foreign taxes (including the
      Participant’s FICA obligation).  The Company shall have the
      power and the right to (i) deduct or withhold from all amounts payable to
      the Participant in connection with the Restricted Shares or otherwise, or
      (ii) require the Participant to remit to the Company, an amount sufficient
      to satisfy any applicable taxes required by law.  Further, the
      Company may permit or require the Participant to satisfy, in whole or in
      part, the tax obligations by withholding Shares that would otherwise be
      received upon vesting of the Restricted
Shares.

            

    

     

    
      	
               
      

            	
              (5)

            	
              This
      Award Agreement shall be subject to all applicable laws, rules, and
      regulations, and to such approvals by any governmental agencies or
      national securities exchanges as may be required, or the Committee
      determines are advisable.  The Participant agrees to take all
      steps the Company determines are necessary to comply with all applicable
      provisions of federal and state securities law in exercising his rights
      under this Award Agreement.

            

    

     

    
      	
               
      

            	
              (6)

            	
              All
      obligations of the Company under the Plan and this Award Agreement, with
      respect to the Restricted Shares, shall be binding on any successor to the
      Company, whether the existence of such successor is the result of a direct
      or indirect purchase, merger, consolidation, or otherwise, of all or
      substantially all of the business and/or assets of the
      Company.

            

    

     

    
      	
               
      

            	
              (7)

            	
              To
      the extent not preempted by federal law, this Award Agreement shall be
      governed by, and construed in accordance with, the laws of the State of
      New York.

            

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, this Award Agreement has been executed by the Company by one of
its duly authorized officers as of the Date of Award.

     

     

    
      	
               

            	LINCOLN
      EDUCATIONAL SERVICES CORPORATION
	 
      	 
      	 
      
	 
      	
              By:

            	 	
               

            
	 
      	
              Name:

            
	 
      	
              Title:

            

    

     

     

     4ex10_32.htm

    
      
        

      
[ * ] = Certain confidential information
contained in this document, marked by brackets, has been omitted and filed
separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of
the Securities Exchange Act of 1934, as amended.

    Exhibit
10.32

    

    SUPPLEMENTAL
AGREEMENT

    

    This
Supplemental Agreement is between Symyx Technologies Inc., having a principal
place of business at 3100 Central Expressway, Santa Clara,
CA,  (hereinafter “Symyx”) and The Dow Chemical Company having a
principal place of business at 2030 Building, Midland, MI 48674 (hereinafter
“TDCC”).

    

    Background

    

    Since
1999, TDCC and Symyx have engaged in various cooperative research activities
under, initially the Collaborative Research and License Agreement, having an
Effective Date of January 1, 1999, and its amendments (CRLA), and later under
the Alliance, Technology Transfer, Research and License Agreement, having an
Effective Date of January 1, 2005 and its amendments (ATTRLA).

    

    TDCC and
Symyx desire to encourage use by TDCC and/or its Affiliates of technology
developed under the CRLA and ATTRLA.  [ * ]

    

    Therefore,
the parties desire to set out a new royalty framework and terms to supersede
certain terms set out in the CRLA and ATTRLA.

    

    In
addition, the parties desire to set out new commitments and options regarding
future purchases by TDCC of tools or research services from Symyx.

    

    Therefore,
the parties agree as follows:

    

    

    Article
1.     Scope of This Supplemental
Agreement

    

    
      	
              1.01

            	
              This
      Agreement shall replace the following provisions of the ATTRLA and CRLA
      addressed to royalty payments which would have been due under those
      agreements and related matters: [ * ] of the ATTRLA and
      [ * ] of the
      CRLA.  Where other sections in these agreements refer to these
      deleted sections the reference shall be deemed to be to the corresponding
      Section of this Supplemental
Agreement.

            

    

    

    
      	
              1.02

            	
              This
      Agreement additionally includes future commitments for purchases of
      Symyx’s Discovery Tools Systems and/or research services by TDCC and/or
      its Affiliates.  This Agreement also contains a new structure
      for directed research services to be performed by Symyx at the request of
      TDCC.

            

    

     

     

    
      1

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              1.03

            	
              Except
      as provided herein, the terms and conditions of the CRLA and ATTRLA shall
      continue in full force and effect.  This Supplemental Agreement
      shall be considered as an amendment to each of those
      Agreements.

            

    

     

     

    Article
2.     Definitions

    Capitalized
terms used herein but not defined herein shall be as defined in the
ATTRLA.

    

    
      	
              2.01

            	
              “Affiliate”shall have the
      meaning as set out in the ATTRLA when it is used in this Agreement in
      regard to rights or obligations related to Products arising from
      technology licensed to TDCC under the ATTRLA or as set out in the CRLA
      when it is used in this Agreement in regard to rights or obligations
      related to Products arising from technology licensed to TDCC under the
      CRLA.  Otherwise, Affiliate shall have the meaning given it in
      the ATTRLA if the right or obligation addressed in this Agreement arises
      in the ATTRLA, and Affiliate shall have the meaning given it in the CRLA
      if the right or obligation addressed in this Agreement arises in the
      CRLA.

            

    

    

    
      	
              2.02

            	
              “Agreement Compound”
      means compounds which meet the definition of Agreement Compound under the
      definition found in either the ATTRLA or the
  CRLA.

            

    

    

    
      	
              2.03

            	
              [ *
  ].

            

    

    

    [ * ].

    

    
      	
              2.04

            	
              [ *
  ].

            

    

    

    
      	
              2.05

            	
              [ *
  ].

            

    

    

    
      	
              2.06

            	
              “Effective Date of this
      Supplemental Agreement” means October 1, 2007, with the proviso
      that with regard to [ *
      ] this Supplemental Agreement shall become effective [ *
  ].

            

    

    

    
      	
              2.07

            	
              [ *
  ].

            

    

    

    
      	
              2.08

            	
              [ *
  ].

            

    

    

    
      	
              2.09

            	
              [ *
  ].

            

    

    

    [ * ].

    

    
      	
              2.10

            	
              [ *
  ].

            

    

    

    
      	
              2.11

            	
              [ *
  ].

            

    

    

    
      	
              2.12

            	
              [ *
  ].

            

    

    

    
      	
              2.13

            	
              [ *
  ].

            

    

    

    
      	
              2.14

            	
              [ *
  ].

            

    

     

     

    
      2

    

    [
* ] = Certain confidential information contained in this document, marked by
brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as
amended.

    

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    
      	
              2.15

            	
              [ * ].

            

    

    

    
      	
              2.16

            	
              [ * ].

            

    

    
      

      
        	
                2.17

              	
                [ * ].

              

      

       

    

    
      	
              2.18

            	
              “Product” has the
      meaning as set forth in the ATTRLA and/or
CRLA.

            

    

    

    
      	
              2.19

            	
              “Product Family” means
      the various grades and generations of a Product that are based on common
      manufacturing methods and common raw materials /or
      components.   Examples of Products within a Product Family
      include but are not limited to:

            

    

    

    
      	
               
      

            	
              a)

            	
              [ * ].

            

    

    

    
      	
               
      

            	
              b)

            	
              [ * ].

            

    

    

    
      	
               
      

            	
              c)

            	
              [ * ].

            

    

    

    
      	
              2.20

            	
              [ * ].

            

    

    

    
      	
              2.21

            	
              [ * ].

            

    

    

    
      	
              2.22

            	
              “Royalty Term” has the
      meaning as set forth in Article 4.

            

    

    

    
      	
              2.23

            	
              [ * ].

            

    

     

     

    Article
3.     Royalty Determination

    

    
      	
              3.01

            	
              General
      Principles

            

    

    

    
      	
               
      

            	
              (a)

            	
              Except
      as agreed herein by the Parties to the contrary, TDCC shall pay to Symyx
      (a) a royalty on sales of Products by TDCC and its Affiliates and,
      depending upon the election made by TDCC pursuant to Section 3.05(e), for
      sales made by TDCC Joint Ventures, and (b) a share of payments from
      Sublicensees for manufacture of Products as set forth
    herein.

            

    

     

    
      	
            	
              (b)

            	
              Royalties
      will be determined by[ *
  ]

            

    

    

    
      	
               
      

            	
              (c)

            	
              [ * ].

            

    

    

    
      	
               
      

            	
              (d)

            	
              [ * ].

            

    

    
      

      
        	
                 
      

              	
                (e)

              	
                [ * ].

              

      

       

    

    
      	
               
      

            	
              (i)

            	
              [ *
  ]

            

    

    

    

    
      	
              3.02

            	
              [ *
      ] Products.  New and
      Existing.

            

    

    

    
      	
               
      

            	
              (a)

            	
              [ * ].

            

    

    
      

      
        	
                 
      

              	
                (b)

              	
                [ * ].

              

      

      
         

        
          	
                   
      

                	
                  (c)

                	
                  [ * ].

                

        

        
           

          
            	
                     
      

                  	
                    (d)

                  	
                    [ * ].

                  

          

           

        

      

    

     

    3

    [
* ] = Certain confidential information contained in this document, marked by
brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as
amended.

    

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    
      	
               
      

            	
              (e)

            	
              [ *
  ].

            

    

    

    [
* ]

     

    
      
        	
                3.03

              	
                [ *
      ] Product from New [ * ] Product.   [ *
      ].

              

      

       

    

    
      	
              3.04

            	
              Other
      Product.

            

    

    

    
      	
               
      

            	
              (a)

            	
              [ *
  ].

            

    

    

    
      	
               
      

            	
              (b)

            	
              [ *
  ].

            

    

    

    
      	
              3.05

            	
              Sublicensing
      income.

            

    

     

    (a)    [ * ].

    

    (b)           [ * ].

    

    (c)           [ * ].

     

     

    
      
        	
                 
      

              	
                (d)

              	
                [ *
  ].

              

      

       

    

    
      	
               
      

            	
              (e)

            	
              [ *
  ].

            

    

    

    
      	
               
      

            	
              (f)

            	
              [ *
  ].

            

    

    

    
      	
               
      

            	
              (g)

            	
              [ *
  ].

            

    

    

    
      	
               
      

            	
              (h)

            	
              [ *
  ].

            

    

    

    
      	
               
      

            	
              (i)

            	
              [ *
  ].

            

    

    

    

    Article
4.     Royalty Term

    

    
      	
              4.01

            	
              Royalties
      on each Product Family shall be due for a period of [ * ] years from the
      Commercialization Point for such Product
      Family.  Notwithstanding the preceding, all royalty obligations
      of TDCC and/or its Affiliates for Products  shall cease [ * ] years from the
      Effective Date of this Supplemental Agreement. Provisions in the CRLA, the
      ATTLRA and this Agreement related to royalties shall survive termination
      of those agreements as required for purposes of this
      Agreement.

            

    

    

    

    Article
5.     Minimum Royalties

    

    
      	
              5.01

            	
              TDCC
      and Symyx agree that minimum royalties are due according to the following
      schedule:

            

    

     

    
      	 
      	
              [ * ]

            	
              [ * ]

            	
              [ * ]

            	
              [ * ]

            	
              [ * ]

            	
              [ * ]

            	
              [ * ]

            	
              [ * ]

            
	
              Minimum Royalty

              [ * ]

            	
              [
      * ]

            	
              [
      * ]

            	
              [
      * ]

            	
              [
      * ]

            	
              [
      * ]

            	
              [
      * ]

            	
              [
      * ]

            	
              [
      * ]

            

    

     

     

    4

    [ * ] = Certain confidential information contained in
this document, marked by brackets, has been omitted and filed separately with
the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities
Exchange Act of 1934, as amended.

    

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    The
minimum royalty shall be fully creditable against actual accrued royalties
calculated pursuant to Article 3 without restriction of year in which actual
royalties accrued.

    

    [ * ].

     

     

    Article
6.     Payments, Reporting and Records

    

    
      	
              6.01

            	
              TDCC
      shall notify Symyx promptly in writing after the Commercialization Point
      for any given Product Family for which royalties are calculable has been
      reached. TDCC shall make an annual written report to Symyx within [ * ] after the end of
      each calendar year in which commercial sales of Products on which
      royalties are payable occur.  The report shall include a
      calculation of the royalties due, including the following for each Product
      Family for which royalties are due, with the information stated separately
      for TDCC and for each Affiliate:

            

    

    

    
      	
               
      

            	
              (a)

            	
              identity
      of Product Family and value of Royalty Tracking Metric for Product in
      Product Family sold ;

            

    

    

    
      	
               
      

            	
              (b)

            	
              PVF
      and Multiplier Factor for the Product Family and calculated royalty
      due;

            

    

    

    
      	
               
      

            	
              (c)

            	
              Any
      withholding taxes held out pursuant to Section
  6.05;

            

    

    

    
      	
               
      

            	
              (d)

            	
              Any
      credit for previously paid minimum royalties that are in excess of actual
      royalties payable to date;

            

    

    

    
      	
               
      

            	
              (e)

            	
              Any
      royalty due on sublicensing income pursuant to section
    3.05;

            

    

    

    
      	
               
      

            	
              (f)

            	
              If
      payments for the year are less than the minimum royalty set out in Article
      5 for that year, a statement of the amount of minimum royalty for the year
      available as a credit against future actual royalties;
  and

            

    

    

    
      	
               
      

            	
              (g)

            	
              Actual
      payment being made pursuant to the process in Section
  6.02.

            

    

    

    In
addition, upon request, TDCC shall make [ * ].

    

    
      	
              6.02

            	
              TDCC
      shall make the minimum annual royalty payments identified in Section 5.01
      in four equal installments, on a quarterly basis, within forty-five (45)
      days after the end of each quarter. In addition, in accordance with the
      terms of Section 5.01, the payment attributable to the fourth quarter of
      each year shall include the excess of the royalties determined in
      accordance with Article 3 (on an inception-to-date basis) over the minimum
      royalties paid in accordance with Article 4 (on an inception-to-date
      basis), if any. Royalty payments shall be wired by TDCC to the following
      address :

            

    

    

    [
* ]

    

    [
* ]

     

     

    5

    [
* ] = Certain confidential information contained in this document, marked by
brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as
amended.

    

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    Symyx may
change the destination at will by providing written notice to TDCC. Delinquent
payments will bear interest at the lesser of: [ * ].

    

    
      	
              6.03

            	
              TDCC
      and its Affiliates shall keep complete, true and accurate books of account
      and records at a principal place of business for the purpose of
      determining the royalty amounts (and revenues from sublicensing income)
      which are payable by the party under this Agreement.  Such books
      and records shall be kept for three years following the end of the
      calendar year to which they pertain.  Such records will be made
      available not more than once each calendar year at reasonable times and on
      reasonable notice to a public accounting firm selected by Symyx and to
      which TDCC has no reasonable objection.  Symyx shall bear the
      cost of such inspection unless the inspection determines there was a
      shortfall in payment in excess of the greater of [ * ] of amount stated
      for the period covered by the inspection in which case reasonable costs of
      such inspection will be paid by TDCC.  In addition, in the event
      such shortfall is determined, TDCC will pay the amount of the shortfall
      [ *
      ].  The public accounting firm employees shall sign a
      reasonable confidentiality agreement as a condition precedent to their
      inspection and shall report to the party initiating the audit only that
      information which would be contained in a royalty report prepared in
      accordance with Section 6.01.

            

    

    

    
      	
              6.04

            	
              [ *
  ]

            

    

    

    
      	
              6.05

            	
              Taxes.  All
      royalty amounts and other payments required to be paid hereunder may be
      paid with deduction for withholding for or on account of any taxes (other
      than taxes imposed on or measured by net income) or similar governmental
      charge imposed by applicable law (“Withholding Taxes”).  Any
      Withholding Taxes will be paid to the proper tax authorities and receipts
      for such payment or other proof of payment will be made available by the
      paying party to the other party.  The parties will exercise
      diligent efforts to ensure that any withholding taxes imposed are reduced
      as far as possible under provisions of any applicable
      treaties.  TDCC may at its option have the relevant Dow
      Affiliate directly make reports or payments to
  Symyx.

            

    

    

    
      	
              6.06

            	
              Royalties
      earned in local currency may be subject to foreign exchange regulations
      then prevailing.  Royalty payments to Symyx shall be made in
      United States dollars to the extent that free conversion to United States
      dollars is permitted.  Any such conversion to U.S. dollars from
      the currency in the country where such Net Royalty Income was earned shall
      be made using the exchange rate for conversion of the foreign currency
      into U.S. Dollars employed by TDCC in the normal course of its business
      for other commercial transactions on the last business day of the calendar
      year quarter to which such payment pertains.  If, due to
      restrictions or prohibitions imposed by national or international
      authority, payments cannot be made as aforesaid, the parties shall consult
      with a view to finding a prompt and acceptable solution.  If
      such royalties due Symyx in any country cannot be remitted to Symyx within
      six (6) months after the end of the calendar year quarter during which
      they are earned, then TDCC or its Affiliate shall upon request of Symyx
      deposit the full amount of such unpaid royalties in a bank account in such
      country in the name of Symyx, provided that if, due to restrictions or
      prohibitions imposed by national or international authority, TDCC has not
      received payment for the Products generating the royalty payment
      obligation, the parties shall consult with a view to finding a timely and
      acceptable solution.

            

    

     

     

    
      6

    

    [
* ] = Certain confidential information contained in this document, marked by
brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as
amended.

    

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    Article
7.     Future Research and Purchases

    

    
      	
              7.01

            	
              In
      addition to commitments set out in the ATTRLA relating to future purchases
      of Discovery Tools Systems or services provided under the Research
      Program, TDCC hereby commits to additional purchases of Discovery Tools
      Systems and/or research services from Symyx under Sections 7.01 and 7.02
      of this Agreement according to the following
  Table:

            

    

     

    
      	 
      	
              [ * ]

            	
              [ * ]

            	
              [ * ]

            	
              [ * ]

            	
              [ * ]

            	
              [ * ]

            
	
              Purchases
      of Discovery Tools 

              Systems
      or  research services 

              ($MM)

            	
              [
      * ]

            	
              [
      * ]

            	
              [
      * ]

            	
              [
      * ]

            	
              [
      * ]

            	
              [
      * ]

            

    

    TDCC may
select at its sole discretion any combination of purchases of such tools or
services.  The provisions of Sections [ * ].  In addition,
to make effective the aforementioned sections of the ATTRLA, the Program Term
shall be extended or renewed as necessary when such additional research services
are requested. [ *
].  The commitments herein could be accelerated for earlier
purchases.  For example, [ * ].  These
purchases will be handled by separate agreements reciting the specifics for the
transaction.

    

    
      	
              7.02

            	
              Beginning
      [ * ], TDCC may
      elect to have Symyx perform directed research services. The parties shall
      negotiate the terms of such arrangements, including but not limited to the
      field in which TDCC would be free to use the results [ * ], with the
      understanding that Symyx retain ownership of results related to
      Combinatorial Chemistry and associated software, workflow and tools as
      consistent with the principles set out in the ATTRLA. .  Symyx
      will respond to directed research proposals with pricing options which are
      expected in most instances to be between [ * ] depending on the
      project being considered.

            

    

    

    

    Article
8.     Disagreements

    

    
      	
              8.01

            	
              The
      parties shall negotiate in good faith to resolve issues arising under the
      terms of this Agreement.  If the parties are unable to resolve
      the issues themselves, the party raising the issue may submit the matter
      to, binding arbitration as set out in Section 16.18 of the ATTRLA except
      that the arbitration shall be conducted by one neutral arbitrator with
      expertise in the chemical industry which both TDCC and Symyx approve and
      the arbitration should be determined using the principles set out
      herein.

            

    

     

     

    
      7

    

    [
* ] = Certain confidential information contained in this document, marked by
brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as
amended.

    

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    Article
9.     Miscellaneous

    

    
      	
              9.01

            	
              This
      Supplemental Agreement amends the ATTRLA and CRLA as stated
      herein.  The other terms and conditions of the ATTRLA and CRLA
      not explicitly replaced herein shall remain in full force and effect,
      including confidentiality obligations, provisions regarding term and
      termination, and the like.

            

    

    

    Accepted
By:

    

    

    
      	
              THE
      DOW CHEMICAL COMPANY

            	 
      	
              SYMYX
      TECHNOLOGIES INC.

            
	 
      	 
      	 
      	 
      	 
      
	
              By:

            	
              /s/ Andrew N. Liveris

            	 
      	
              By:

            	
              /s/ Rex S. Jackson

            
	 
      	 
      	 
      	 
      	 
      
	
              Name:

            	
              Andrew N. Liveris

            	 
      	
              Name:

            	
              Rex S. Jackson

            
	 
      	 
      	 
      	 
      	 
      
	
              Title:

            	
              Chairman & CEO

            	 
      	
              Title:

            	
              EVP & CFO

            
	 
      	 
      	 
      	 
      	 
      
	
              Date:

            	
              11/20/2007

            	 
      	
              Date:

            	
              11/29/07

            

    

    

    

    8

    [
* ] = Certain confidential information contained in this document, marked by
brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as
amended.

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