Document:

exv10w10

 

[***] Indicates
text has been omitted from this Exhibit pursuant to a confidential treatment
request and has been filed separately with the Securities and Exchange Commission.

Exhibit 10.10

COY-15-RISC/F269-1

S05/1-25730208

27 March 2008

Ms Grace Yow

General Manager

Fluidigm Singapore Pte Ltd

Block 1026, #07-3532

Tai Seng Avenue

Singapore 534413

Dear Ms Grace Yow,

APPLICATION FOR INCENTIVES UNDER THE RESEARCH INCENTIVE SCHEME FOR COMPANIES (RISC)

          This is with reference to your application of 15 June 2005 and subsequent revisions for
incentives under the Research Incentive Scheme for Companies. This letter amends, restates and
replaces our original letter agreement dated 7 October 2005 (the “Prior Letter”), provided that the
Supplement to the Prior Letter dated 11 January 2006 (the “Supplement”) shall remain in full force
and effect and all references in the Supplement to the Prior Letter or LOF shall be considered
references to this amended and restated letter.

2 We are pleased to inform you that the Economic Development Board (hereinafter called “EDB”) has
agreed to provide a grant not exceeding S$9,926,000 in total to Fluidigm Singapore Pte Ltd
(hereinafter called “the Company”) under the RISC for your project on the development of the
Fluidigm R&D centre (hereinafter called the “Development Project”), as described in your
application. This grant shall be subject to the following conditions:

	 	 	 	Project Implementation
	 
	 	(a)	 	The Company shall implement the Development Project as indicated in the Company’s
application dated 15 June 2005 and subsequent revisions.
	 
	 	(b)	 	The Development Project shall meet the project milestones, deliverables and headcount
commitment as shown in Annex 1.
	 
	 	(c)	 	The Company shall carry out the entire Development Project in Singapore unless
otherwise stated.

 

 

	 	(d)	 	The Company shall employ at least [***] Research Scientists and Engineers in Singapore by 31
December 2007.
	 
	 	(e)	 	The Company shall employ at least [***] Research Scientists and Engineers in Singapore by 31
December 2009.
	 
	 	(f)	 	The Company shall incur annual R&D spending of at least [***] by 31 December 2008
and at least [***] by 31 December 2010.
	 
	 	(g)	 	The Company shall be the legal and economic owner of all intellectual property (IP) arising
from this project.
	 
	 	(h)	 	The Company shall engage a Singapore-based IP or legal firm(s) to file, draft and manage
all patent applications arising from this project.
	 
	 	(i)	 	The Company shall manufacture all products developed from this RISC project in Singapore
for the lifetime of the products.

	 	 	 	Supported Period
	 
	 	(j)	 	Only expenses incurred during the qualifying period, which shall be from 1 August 2005 to
31 July 2010, will be supported.

	 	 	 	Grant Support
	 
	 	(k)	 	All manpower, equipment, materials & software, professional services and intellectual
property rights supported under this RISC grant shall be used exclusively for the Development
Project and shall follow the administrative guidelines laid out in Annex 2.
	 
	 	(l)	 	The Company shall not sell, lease, dispose or otherwise transfer the equipment & software
supported under this RISC grant to another party during the execution of the Development
Project without first obtaining the written approval of EDB, which if so granted, shall be on
such terms as EDB deems fit. The Company shall at all times maintain proper records with
respect to the assets acquired through the grant.
	 
	 	(m)	 	The Company shall not seek or receive funds from any other incentives offered by other
agencies of the Government of Singapore for funding of this Development Project.
	 
	 	(n)	 	All grant monies received shall be used solely for the implementation of this Development
project.

 

 

	 	 	 	Project Management & Co-ordination
	 
	 	(o)	 	The Company shall appoint a person (hereinafter called the “Principal Investigator”) to
lead the Development Project. The Principal Investigator shall be responsible for the
proper management, co-ordination and progress of the Development Project, the management of
grants disbursed and all other matters pertaining to the Development Project, including the
preparation of claims, submission of audited statements and progress reports.
	 
	 	(p)	 	The Principal Investigator shall be deemed as an agent of the Company throughout the
Development Project and EDB shall at all times have access to the Principal Investigator
with regards to all matters pertaining to the Development Project.
	 
	 	(q)	 	The Company shall inform EDB in writing of any change in the Principal Investigator.

	 	 	 	Other Conditions
	 
	 	(r)	 	The Company shall permit EDB officers to inspect the premises where the development
work is carried out, the Company’s accounts on the development expenditures and the records
on the progress of the Development Project.
	 
	 	(s)	 	The Company shall be required to provide, through responses to surveys or any other
such studies carried out by EDB, relevant information on the Development Project, as and
when requested by EDB.
	 
	 	(t)	 	If required by EDB, the Company shall submit a report comparing its projections in the
application form with the actual realised figures. The template for this report and the
timeline for submission will be provided by EDB.

3 In the event the Project is aborted, the Company is to inform EDB in writing immediately.

4 EDB reserves the right to recover from the Company the total amount of grant released to the
Company for any breach of condition under which the RISC grant was approved.

5 The Company shall keep the terms and conditions of this RISC grant confidential.
Such information shall not be released to any external party, the public or the press unless prior
written consent from EDB is given.

 

 

6 EDB reserves the right to change the terms and conditions of this offer from time to time as may
be specified and deemed necessary by EDB.

7 If you are prepared to accept this amended and restated offer of a grant under the conditions
stipulated above, please sign below and return it to EDB within 1 month from the date of this
letter, failing which this offer shall be deemed to have lapsed.

8 If you have any queries, please contact Ih-Ming CHAN at 6395 7794. For queries on claims, please
call the EDAS hotline at 6832 6416. We wish you every success in this project.

Yours sincerely

DR BEH SWAN GIN

DIRECTOR

BIOMEDICAL SCIENCES CLUSTER

Enclosures:

Annex 1     Project Milestones and Deliverables

Annex 2     Administrative Guidelines

Accepted and Agreed

FLUIDIGM CORPORATION

                                                 

Name:

Title:

 

 

Annex 1

PROJECT MILESTONES AND DELIVERABLES

	(a)	 	The Company shall employ at least [***] Research Scientists and Engineers in Singapore by 31
December 2007.
	 
	(b)	 	The Company shall employ at least [***] Research Scientists and Engineers in Singapore by 31
December 2009.
	 
	(c)	 	The Company shall incur annual R&D spending of at least [***] by 31 December 2008 and
at least [***] by 31 December 2010.
	 
	(d)	 	The Company shall be the legal and economic owner of all intellectual property (IP) arising
from this project. The economic benefits resulting from the exploitation of the IP arising from
this project shall accrue to the Company.
	 
	(e)	 	The Company shall engage a Singapore-based IP or legal firm(s) to file, draft and manage all
patent applications arising from this project.
	 
	(f)	 	The Company shall manufacture all products developed from this RISC project in Singapore for
the lifetime of the products.
	 
	(g)	 	The Company shall fulfil the following project milestones as indicated below:

	 	 	 
	Milestones	 	Date of Completion
	 
	 	 
	TOPAZ Screening Chip
	 	 
	[***]	 	[***]
	[***]	 	[***]
	TOPAZ Next Generation Screening Chip
	 	 
	[***]	 	[***]
	[***]	 	[***]
	[***]	 	[***]
	TOPAZ Diffraction Chip
	 	 
	[***]	 	[***]
	[***]	 	[***]
	[***]	 	[***]

 

 

	 	 	 
	Milestones	 	Date of Completion
	 
	 	 
	Dynamic Array IFCs
	 	 
	 [***]
	 	[***]
	 [***]
	 	[***] 
	 [***] 
	 	[***] 
	 
	 	 
	Next Generation IFCs (Immunoassays, PET Synthesis, DID, Pathogen Detection)
	 	 
	[***]
	 	[***]

 

 

Annex 2

ADMINISTRATIVE GUIDELINES

	1.	 	The grant shall cover [***] of the actual qualifying manpower costs and [***] of the actual
qualifying costs for equipment, materials & software, professional services and intellectual
property rights incurred by the Company on the Development Project during the qualifying
period. In the event where qualifying cost items are not used exclusively for the Development
Project, the qualifying costs items shall be suitably pro-rated. The qualifying cost items are
listed below, but shall be subject to a total maximum grant of S$9,926,000. Virement from one
qualifying cost item to another will not be considered and the grant shall not cover GST
payments.

	 	 	 	 	 
	Category	 	Approved Grant (S$)	 
	Manpower
	 	 	[***]	 
	Equipment, Materials and Software
	 	 	[***]	 
	Professional services
	 	 	[***]	 
	 
	 
	Total
	 	 	[***]	 
	 
	 
	 
	Total Approved Grant

(Rounded down to nearest thousand dollars)
	 	 	9,926,000	 
	 

	2.	 	The qualifying cost for equipment (less its residual value, if any) is pro-rated based on the
number of months the equipment is used for the project (this refers to the date of delivery to
the end of qualifying period) over the approved useful life of equipment.
	 
	 	 	The qualifying cost of equipment is based on the actual expenses, residual value, number of
months that the equipment is used for the project and approved useful life of equipment.
	 
	 	 	The qualifying cost for intellectual property rights (IPR) is pro-rated based on the
project duration over the approved useful life of IPR.
	 
	 	 	The qualifying cost of IPR is based on the cost of acquiring IPR, project duration and the
approved useful life of IPR.
	 
	3.	 	Disbursements shall be made on a reimbursement basis upon application by the Company at
quarterly intervals. Claims must be submitted using the prescribed forms and shall be
certified by the Company’s Chief Financial Officer and the Principal Investigator. The amount
disbursed shall be based on the actual
qualifying cost item incurred by the Company on the Development Project during the
qualifying period.
	 
	 	 	The grant will be disbursed as follows:

	 	(i)	 	Disbursements of up to a cumulative total [***] of the approved grant amount shall be
made upon application by the Company.
	 
	 	(ii)	 	The remaining [***] of the grant may be released upon application by the Company on
completion of the Development Project.

 

 

	4.	 	For all claims (except for the final claim), the first [***] of the amount claimed will be
disbursed to the Company upon receipt of claim and the remaining [***] will be disbursed upon
the completion of checks.

	5.	 	The final claim must be submitted within 6 months with complete documentation from the end of
the qualifying period (31 July 2010), failing which any claim will be disqualified.

	6.	 	For total approved grant exceeding S$100,000, all claims must be externally audited. The
audited statement of accounts shall be submitted on an annual basis, as well as when the
Development Project is completed or terminated. The Company shall make available to its
auditor this Letter of Offer and its accompanying annexes. The Company shall ensure that the
external auditor forwards a copy of the audited accounts directly to EDB upon completion of
the audit. In the event that the external auditor cannot issue an unqualified report, EDB
shall have direct access to the external auditor to gather details with regard to the audit
findings.

	7.	 	The Company shall submit progress reports to EDB at half-yearly intervals. The disbursement
of any grant shall be subject to the Company achieving the project milestones as stated in the
Offer Letter. The final report is to be submitted upon completion of the project.exv10w10a

 

[***] Indicates
text has been omitted from this Exhibit pursuant to a confidential treatment
request and has been filed separately with the Securities and Exchange Commission.

Exhibit 10.10A

11 January 2006

Mr Gajus Worthington

CEO

Fluidigm Corporation

7100 Shoreline Court

South San Francisco, CA 94080

			
	Re:	 	Supplement to Letter Dated 7 October 2005 Relating to Application for Incentives under
the Research Incentive Scheme for Companies (RISC)

Dear Gajus:

     Reference
is made to the Singapore Economic Development Board’s
(“EDB”) Letter of Offer dated 07
October 2005 (the “LOF”), executed by EDB and relating to the application by Fluidigm Singapore Pte
Ltd (“Fluidigm Singapore”) for incentives under the Research Incentive Scheme for Companies
(“RISC”). Fluidigm Singapore is a subsidiary of Fluidigm Corporation, a California corporation
(“Fluidigm Parent”). This letter agreement,
referred to as the “Supplemental Agreement,” is and
shall be construed as supplemental to the LOF and every
clause of the LOF shall continue in full force and effect and be binding on the parties thereto
save as expressly amended and supplemented by this Supplemental
Agreement. For the avoidance of
doubt, except as specifically set forth in this Supplemental Agreement, clause 4 of the LOF shall
apply to any breach of conditions under which the RISC grant was approved. For purposes of this
Supplemental Agreement, a “Business Day” shall refer to any day that is not a Saturday, Sunday, or
statutory holiday in Singapore. Consistent with the RISC grant, this Supplemental Agreement will be
deemed effective as of 1 August 2005.

     For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
EDB, Fluidigm Singapore, and Fluidigm Parent agree as follows:

     1. In addition to and based on the milestones and deliverables identified in Paragraph 2 and Annex
1 of the LOF, Fluidigm Singapore shall be required throughout the project development period,
commencing from 1 January 2006, to furnish to EDB annually, quarterly milestones and deliverables
for the forthcoming year in accordance with the relevant milestones and deliverables identified in
Paragraph 2 and Annex 1 of the LOF (the “New Milestone List”). EDB shall be entitled to accept or
reject such milestones and deliverables in accordance with paragraph 5 below. Fluidigm Singapore
shall deliver the New Milestone List on or before January 31 of
each year.

     2. Fluidigm Singapore shall deliver to EDB on a quarterly basis evidence of the satisfaction of
previously identified objective milestones and deliverables (as set forth in a New Milestone List)
for the entire prior fiscal period of Fluidigm Parent (the “Quarterly Update Reports”). Quarterly
Update Report submission shall take place no later than the fifth
(5th) Business Day after the end
of each fiscal quarter and shall include Fluidigm Singapore’s claims

	 	 	 
	Economic Development Board

250 North Bridge Road, #28-00 Raffles City Tower, Singapore 179101. Tel: 65 6832 6832 Fax: 65 6832 6565

www.sedb.com

	 	

 

 

Page 2

for the entire prior fiscal quarter. The Quarterly Update Reports must be in sufficient detail to
satisfy EDB that the milestones and deliverables identified in the applicable New Milestone List
have been met. Scheduled quarterly update meetings or teleconference calls arranged between Fluidigm
Singapore and EDB to review the progress of the development project will be held in advance of
Quarterly Update Report submission.

     3. If EDB objects to or otherwise disagrees with the conclusion of Fluidigm Singapore and Fluidigm
Parent that the Quarterly Update Report evidences satisfaction in full of the milestones and
deliverables previously identified in the New Milestone List for the period covered by such
Quarterly Update Report, then EDB shall deliver a written notice to Fluidigm Singapore and Fluidigm
Parent stating its objections or disagreement (“Notice of
Objection”). In the event that EDB
delivers a Notice of Objection, EDB, Fluidigm Singapore, and Fluidigm Parent will act in good faith
to promptly resolve any such objection or disagreement. Fluidigm Singapore and Fluidigm Parent
shall deliver to EDB a revised Quarterly Update Report which is satisfactory to EDB on or before
the fifteenth (15th) calendar day after the end of the fiscal quarter. If EDB is satisfied with the
progress of the milestone completion and project achievements as set out in the Quarterly Update
Reports, EDB will qualify in writing the company’s quarterly claims for that quarter and limit its
right of recovery set forth in paragraph 4 of the LOF to [***] of the qualified claim amount for
that quarterly fiscal period.

     4. EDB, Fluidigm Parent, and Fluidigm Singapore agree that Fluidigm may elect to conduct the audits
contemplated pursuant to paragraph 2, subsection (t) of the LOF on a half-yearly (i.e., every six
months) rather than on an annual basis. In the event that any such audit reveals inaccuracies or
errors that would have resulted in a recovery pursuant to paragraph 4 of the LOF, EDB may effect
such recovery, in all events subject to the [***] limitation set forth in
paragraph 3 above, directly from Fluidigm Singapore or, at EDB’s election, as an off-set against
future reimbursements. EDB will fully qualify in writing the company’s quarterly claim only upon
the company’s subsequent half-yearly submission of externally audited claims for the quarterly
period(s) concerned and satisfactory verification by EDB.

     5. On
or before the tenth (10th) Business Day following delivery of the New Milestone List, EDB
shall deliver written notice (“Notice of Objection on
Milestone List”) to Fluidigm Singapore and
Fluidigm Parent if EDB objects to or otherwise disagrees with the objective milestones and
deliverables identified in any New Milestone List. In the event that EDB delivers a Notice of
Objection on Milestone List within the prescribed period, EDB, Fluidigm Singapore, and Fluidigm
Parent will act in good faith to promptly resolve any such objection
or disagreement. Fluidigm
Singapore and Fluidigm Parent shall, within ten (10) Business Days of the date of the Notice of
Objection on Milestone List, deliver to EDB a New Milestone List which is satisfactory to EDB.

     6. in the event of (i) fraud by Fluidigm Singapore or Fluidigm Parent or (ii) any intentional
misrepresentation of a material fact by Fluidigm Singapore or Fluidigm Parent, in either case
relating to Fluidigm Singapore’s performance of the activities contemplated by the development
project, then the limitations set forth in this Supplemental Agreement (including,

	 	 	 
	Economic Development Board

250 North Bridge Road, #28-00 Raffles City Tower, Singapore 179101. Tel: 65 6832 6832 Fax: 65 6832 6565

www.sedb.com

	 	

 

 

Page 3

without limitation, paragraph 3 of this Supplemental Agreement) on EDB’s right of recovery under
paragraph 4 of the LOF shall not apply and EDB reserves the right to full recovery of any disbursed
grant monies.

     7. Neither the LOF nor this Supplemental Agreement may be amended or modified, nor may any
provision of the LOF or this Supplemental Agreement be waived, except with the written consent of
EDB, Fluidigm Singapore, and Fluidigm Parent or in the case of a waiver, the written consent of the
party giving such waiver. Except to the extent the LOF is supplemented, amended, or superseded
pursuant to this Supplemental Agreement, the LOF shall remain in full force and effect in
accordance with its terms.

Yours Sincerely,

	 	 	 
	/s/ Dr Beh Swan Gin

 

Dr Beh Swan Gin 
Director

	 	 
	Biomedical Sciences
	 	 
	EDB
	 	 

	 	 	 
	Economic Development Board

250 North Bridge Road, #28-00 Raffles City Tower, Singapore 179101. Tel: 65 6832 6832 Fax: 65 6832 6565

www.sedb.com

	 	

 

 

COY-15-RISC/F269-1

S05/1-25730208

Chairman

Economic Development Board

250 North Bridge Road

#28-00 Raffles City Tower

Singapore 179101

Attention: DR BEH SWAN GIN

ACCEPTANCE OF SUPPLEMENTAL AGREEMENT TO THE LOF DATED 7 OCT 2005 PERTAINING TO RESEARCH INCENTIVE
SCHEME FOR COMPANIES

	1	 	I refer to your LOF dated 7 October 2005 and the Supplemental Agreement to the LOF
dated 11 January 2006.
	 
	2	 	I confirm that my company will be undertaking the development project as submitted to
the Board dated 15 June 2005 and subsequent revisions and that we accept the award of your grant
not exceeding S$9,926,000 in aggregate, subject to the terms and conditions set out in the LOF
dated 7 October 2005 and the above mentioned Supplemental Agreement to the LOF.
	 
	3	 	We understand the need for EDB to ensure good governance of public fund and hence
will ensure that all claims for reimbursement of project expenditure are true and correct and all
terms and conditions as set out in the LOF dated 7 October 2005 and the above mentioned
Supplemental Agreement are complied with.

	 	 	 	 	 	 	 
	Signature

	 	:
	 	/s/ Gajus Worthington	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Mr Gajus Worthington/ CEO Fluidigm Corporation	 	 
	 
	 	 	 	 	 	 
	Signature

	 	:	 	/s/ Grace Yow	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Ms Grace Yow / General Manager	 	 
	 
	 	 	 	 	 	 
	Company Stamp

	 	:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Fluidigm Singapore Pte Ltd	 	 
	 
	 	 	 	 	 	 
	Date

	 	:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 	 
	Economic Development Board

250 North Bridge Road, #28-00 Raffles City Tower, Singapore 179101. Tel: 65 6832 6832 Fax: 65 6832 6565

www.sedb.com

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