Document:

exv10w29

Exhibit 10.29

*** Text Omitted and Filed Separately

Confidential Treatment Requested

Under 17 C.F.R. §§ 200.80(b)(4)

and 203.406

STANDARD EXCLUSIVE LICENSE AGREEMENT 

Agreement No: A10550

TABLE OF CONTENTS

	 	 	 

	Section 1 Definitions

	Section 2 Grant

	Section 3 Due Diligence

	Section 4 Payments

	Section 5 Certain Warranties and Disclaimers of UFRF

	Section 6 Record Keeping

	Section 7 Patent Prosecution

	Section 8 Infringement and Invalidity

	Section 9 Term and Termination

	Section 10 Assignability

	Section 11 Dispute Resolution Procedures

	Section 12 Product Liability; Conduct of Business

	Section 13 Use of Names

	Section 14 Miscellaneous

	Section 15 Notices

	Section 16 Contract Formation and Authority

	Section 17 United States Government Interests

	Section 18 Confidentiality

	Section 19 University Rules and Regulations

	Section 20 Integration

	 
	 	 
	Appendix A — Development Plan
	Appendix B — Development Report
	Appendix C — UFRF Royalty Report
	Appendix D — Milestones

     This Agreement is made effective the 15th day of June 2011, (the “Effective Date”) by and
between the University of Florida Research Foundation, Inc. (hereinafter called “UFRF”), a
nonstock, nonprofit Florida corporation, and Myriant Technologies Inc (hereinafter called
“Licensee”), a small entity corporation organized and existing under the laws of Delaware and
having its principal office at 2 Batterymarch Park, Suite 301, Quincy, MA 02169; UFRF and Licensee
are referred individually as Party and collectively as Parties;

     WHEREAS, UFRF owns certain inventions that are described in the “Licensed Patents” defined
below, and UFRF is willing to grant a license to Licensee under any one or all of the Licensed
Patents and Licensee desires a license under all of them;

     NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth below, the
Parties covenant and agree as follows:

 

			
	***	 	Confidential Treatment Requested

 Page 1

 

Section 1 Definitions

	 	1.1	 	“Licensed Patents” means all of the following UFRF intellectual property:

	 	1.1.1	 	The United States Provisional Patent Application
entitled “L-Malate production by metabolically engineered Escherichia
coli” filed in the United States Patent Office on September 1, 2010, and
assigned Registration Number/Serial Number 61/379,077 and all United
States and foreign patents and patent applications based on this United
States Provisional Patent Application.
	 
	 	1.1.2	 	any and all United States and foreign patent
applications claiming priority to any of the patent(s) and patent
application(s) identified in Section 1.1.1, and
	 
	 	1.1.3	 	any and all patents issuing from the patent
applications identified in Section 1.1.1 and 1.1.2, including, but not
limited to, letters patents, patents of addition, divisionals,
continuations, reissues, re-examinations, extensions, restorations, and
supplementary protection certificates; all to the extent owned or
controlled by the University of Florida.

	 	1.2	 	“Licensed Product” and “Licensed Process” means:

	 	1.2.1	 	In the case of a Licensed Product, any product or
part thereof, on a country-by-country basis, that:

	 	(a)	 	is covered in whole or in part by an
issued, unexpired claim or a pending claim contained in the
Licensed Patents, in any country in which such product is made,
used, imported or sold; or
	 
	 	(b)	 	is manufactured by using a process
which is covered in whole or in part by an issued, unexpired claim
or a pending claim contained in the Licensed Patents, in any
country in which any such process is used or in which any such
product is used, imported or sold.

	 	1.2.2	 	In the case of a Licensed Process, any process, on
a country-by-country basis:

	 	(a)	 	which is covered in whole or in part
by an issued, unexpired claim or a pending claim contained in the
Licensed Patents in any country in which such process is
practiced.

	 	1.3	 	“Net Sales” means the total dollar amount invoiced on sales of
Licensed Product and/or Licensed Processes by Licensee or Sublicensee after
deducting, if not already deducted in the amount invoiced;

	 	•	 	Trade and/or quantity discounts
	 
	 	•	 	Credits on returns and allowances
	 
	 	•	 	Outbound transportation costs paid

	 	 	 	“Net Sales” shall not include the transfer of reasonable quantities of a
Licensed Product to an Affiliate or Third Party for promotional purposes
without charge. For the purpose of calculations of royalty payment, the Net
Sales is not determined on the basis of output from the individual plants but
it is based on the aggregated annual production of Licensed Product from all
the manufacturing plants owned and, or operated either by Licensee or
Sublicensee(s) throughout the world during that year.

 

			
	***	 	Confidential Treatment Requested

 Page 2

 

	 	1.4	 	“Permitted Deductions” means: (i) funds received as consideration for
equity purchases of Licensee’s securities by a Sublicensee at the fair market
value of such equities, (ii) payments received by Licensee from any Sublicensee
for purposes of paying Licensee for any future research requested by the
Sublicensee, for development, testing, or engineering services actually undertaken
by or for Licensee related to any Licensed Product or Licensed Process. For
greater clarity, payment by a Sublicensee for future research expenses incurred by
or for Licensee after the Effective Date for research which has not been requested
by Sublicensee and has been conducted by Licensee as Licensee’s diligent pursuit
of the Licensed Patents shall not be considered a Permitted Deduction.
	 
	 	1.5	 	“Affiliate” means: (a) any person or entity which controls at least
fifty percent (50%) of the equity or voting stock of the Licensee or (b) any
person or entity fifty percent (50%) of whose equity or voting stock is owned or
controlled by the Licensee or (c) any person or entity of which at least fifty
percent (50%) of the equity or voting stock is owned or controlled by the same
person or entity owning or controlling at least fifty percent (50%) of Licensee or
(d) any entity in which any officer or employee is also an officer or employee of
Licensee or any person who is an officer or employee of Licensee.
	 
	 	1.6	 	“Patent Challenge” means a challenge to the validity, patentability,
and/or enforceability of any of the Licensed Patents or otherwise opposing any of
the Licensed Patents.
	 
	 	1.7	 	“Sublicense” means, directly or indirectly, to sublicense, grant any
other right with respect to, or agree not to assert, any right licensed to
Licensee under this Agreement.
	 
	 	1.8	 	“Sublicensee” means any Affiliate or Third Party to whom Licensee
grants a Sublicense.
	 
	 	1.9	 	“Development Plan” means a written report summarizing the development
activities that are to be undertaken by the Licensee to bring Licensed Products
and/or Licensed Processes to the market. The Development Plan is attached as
Appendix A.
	 
	 	1.10	 	“Development Report” means a written account of Licensee’s progress
under the Development Plan having at least the information specified on Appendix B
to this Agreement, and shall be sent to the address specified on Appendix B.
	 
	 	1.11	 	“Licensed Field” shall mean the practice of the Licensed Processes
for the production of malic acid and all of its derivatives thereof and the use of
malic acid and its derivatives for all purposes.
	 
	 	1.12	 	“Third Party” shall mean any person or entity other than a Party to
this Agreement or an Affiliate of a Party to this Agreement.
	 
	 	1.13	 	“Licensed Territory” shall be worldwide.

Section 2 Grant

	 	2.1	 	License

	 	2.1.1	 	License under Licensed Patents

	 	 	 	Subject to the terms of this agreement, UFRF hereby grants to Licensee a
royalty-bearing,

 

			
	***	 	Confidential Treatment Requested

 Page 3

 

	 	 	 	exclusive license, limited to the Licensed Field and the Licensed Territory,
under the Licensed Patents to make, have made, develop, use, lease, import,
export, offer to sell, sell and have sold Licensed Products and Licensed
Processes. This grant of exclusive license shall allow the making, using and
selling of Licensed Products and/or Licensed Processes by tolling facilities
owned and operated by Third Parties under a written agreement with the Licensee
or Sublicensee(s). UFRF reserves to itself and the University of Florida the
right under the Licensed Patents to make, have made, develop, import and use
Licensed Products and Licensed Processes solely for their internal research,
clinical and educational purposes. In addition, UFRF reserves to itself, as
well as to the University of Florida and to all non-profit research institutions
(which other non-profit research institutions shall have no right to grant
further Sublicenses), the right to use materials that might be covered under
Licensed Patents solely for their internal research, educational, and clinical
purposes and to meet all applicable governmental requirements governing the
ability to transfer materials.

	 	2.2	 	Sublicense

	 	2.2.1	 	Licensee may grant written Sublicenses to Affiliates
on prior notice to UFRF. Licensee may grant written Sublicense to Third
Parties subject to UFRF prior review and consent which review and consent
shall not be unreasonably withheld or delayed. However, Licensee shall
notify UFRF of the initiation of license negotiations with all potential
Sublicensees. Any agreement granting a Sublicense shall state that the
Sublicense is subject to the terms and condition of this Agreement and to
the termination of this Agreement. Licensee shall have the same
responsibility for the activities of any Sublicensee or Affiliate as if the
activities were directly those of Licensee. Licensee shall also include
provisions in all Sublicenses to provide that in the event that Sublicensee
brings a Patent Challenge against UFRF or assists another party in bringing
a Patent Challenge against UFRF (except as required under a court order or
subpoena) then Licensee may terminate the rights of Sublicensee with
respect to the Licensed Patent that is the subject of the Patent Challenge
within thirty (30) days.
	 
	 	2.2.2	 	In respect to Sublicenses granted by Licensee
under Section 2.2.1, Licensee shall pay a royalty on Net Sales according
to Section 4.2. In addition, Licensee shall pay UFRF (subject to
Permitted Deductions provided that fair and commercially reasonable
Sublicense fees are paid to UFRF in conjunction with such transaction)
[...***...] of any fees or other payments in consideration for any rights
granted under a Sublicense and such payments are not based directly upon
the amount or value of Licensed Products sold by Sublicensee (Fees) up to
[...***...]; [...***...] of any Fees between [...***...] and
[...***...]; and [...***...] of Fees above [...***...]. Licensee shall
not receive from Sublicensee anything of value in lieu of cash payments
in consideration for any Sublicense under this Agreement without the
express prior written permission of UFRF.
	 
	 	2.2.3	 	Licensee shall provide UFRF with a final
unredacted copy of each Sublicense agreement and any agreement which
transfers intellectual property rights granted hereunder, within thirty
(30) days after the execution of the Sublicense agreement and further
agrees to forward to UFRF annually a copy of such reports received by
Licensee from its Sublicensees pertinent to the payments under said
Sublicense agreements.

 

			
	***	 	Confidential Treatment Requested

 Page 4

 

	 	2.2.4	 	If Licensee is either unable or unwilling to serve
or develop a potential market or market territory for which there is a
company willing to be a Sublicensee, Licensee will, at UFRF’s request,
negotiate in good faith a Sublicense with any such Sublicensee.

	 	2.3	 	If (i) Licensee or any of its Affiliates brings a Patent Challenge
against UFRF, or (ii) Licensee or any of its Affiliates assists another party in
bringing a Patent Challenge against UFRF (except as required under a court order
or subpoena), and (iii) UFRF does not choose to exercise its rights to terminate
this Agreement pursuant to Section 9.3 then, in the event that such a Patent
Challenge is successful, Licensee will have no right to recoup any consideration,
including royalties, paid during the period of challenge.
	 
	 	2.4	 	In the event that a Patent Challenge is unsuccessful, Licensee
shall reimburse UFRF for all reasonable legal fees and expenses incurred in its
defense against the Patent Challenge.

Section 3 Due Diligence

	 	3.1	 	Development

	 	3.1.1	 	Licensee agrees to and warrants that:

	 	(a)	 	it has, or will obtain, the expertise
necessary to independently evaluate the inventions of the Licensed
Patents;
	 
	 	(b)	 	it will establish and actively and
diligently pursue the Development Plan (see Appendix A ) to the
end that the inventions of the Licensed Patents will be utilized
to provide Licensed Products and/or Licensed Processes for sale in
the retail market within the Licensed Field;
	 
	 	(c)	 	it will diligently develop markets
for Licensed Products and Licensed Processes;
	 
	 	(d)	 	and, until the date of first
commercial sale of Licensed Products or Licensed Processes, it
will supply UFRF with a written Development Report annually
fifteen (15) days after the end of the calendar year (see Appendix
B ).

	 	3.1.2	 	Licensee agrees that the first commercial sale of
products to the retail customer shall occur on or before December 31,
2016 or UFRF shall have the right to terminate the Agreement pursuant to
Section 9.3 hereto. In addition, Licensee will meet the milestones shown
in Appendix D or UFRF shall have the right to terminate the Agreement
pursuant to Section 9.3. Licensee will notify UFRF in writing as each
milestone is met.
	 
	 	3.1.3	 	Upon written request by Licensee to negotiate
extensions of any milestones or due dates set forth in Appendix D, such
request to be received by UFRF no less than ninety (90) days prior to any
of the due dates subject of such request, set forth in this Section
3.1.3, such request fully describing Licensee’s diligent efforts to
achieve the milestone required to be met by such due date, UFRF shall
consider in good faith such requests. Upon granting such request, UFRF
and Licensee shall negotiate such extensions in good faith.

 

			
	***	 	Confidential Treatment Requested

 Page 5

 

Section 4 Payments

	 	4.1	 	Annual License Maintenance Fee
	 
	 	 	 	Licensee will pay an annual license maintenance fee of two thousand five hundred
dollars ($2,500), each year on the anniversary of the Effective Date of this
Agreement. The annual license maintenance fee is payable until the first
commercial sale of a Licensed Product or Licensed Process, after which time
minimum royalties instead of the annual license maintenance fee will be due.
	 
	 	4.2	 	Royalty

	 	4.2.1	 	Royalty on Licensed Patents: In addition to other
payments required by this Agreement, Licensee agrees to pay to UFRF as
earned royalties a royalty calculated as a percentage of Net Sales of
Licensed Products which, if not for this Agreement, would infringe
Licensed Patents. The royalty is deemed earned as of the earlier of the
date the Licensed Product and or Licensed Process is actually sold and
paid (or the date an invoice is sent by Licensee or its Sublicensee(s).
For each calendar year or partial calendar year during the term of this
Agreement, Licensee shall pay royalties at the following rates based on
the aggregate annual production of Licensed Products for all
manufacturing by or on behalf of Licensee and Sublicensee(s): [...***...]
of aggregate Net Sales for the first [...***...] pounds of Licensed
Product during each calendar year; [...***...] of aggregate Net Sales
between [...***...] and [...***...] pounds of Licensed Product during
each calendar year, and [...***...] of aggregate Net Sales over
[...***...] pounds of Licensed Product during each calendar year.
	 
	 	4.2.2	 	Amounts owing to UFRF under Sections 4.2 and 4.3
shall be paid on a quarterly basis with such amounts due and received by
UFRF on or before the thirtieth (30th) day following the end
of the calendar quarter ending on March 31, June 30, September 30 or
December 31 in which such amounts were earned.

	 	4.3	 	Minimum Royalty

	 	4.3.1	 	Licensee agrees to pay UFRF Minimum Royalty payments, as follows:

	 	 	 

	Payment

	 	 Year
	$[...***...]

	 	 2017 (or second year of commercial sales)
	$[...***...]

	 	 2018
	$[...***...]

	 	 2019
	$[...***...]

	 	 2020 and every year
thereafter for the life of this Agreement.

	 	4.3.2	 	The initiation of the annual minimum royalty
payment will eliminate the need for the License Maintenance Fee due under
Section 4.2.
	 
	 	4.3.3	 	The Minimum Royalty shall be paid in advance on a
quarterly basis on March 31, June 30, September 30, and December 31 for
the following quarters, for each

 

			
	***	 	Confidential Treatment Requested

 Page 6

 

	 	 	 	year in which this Agreement is in effect. Any minimum royalty paid in
a calendar year will be credited against the earned royalties for that
calendar year. It is understood that the minimum royalties will be
applied to earned royalties on a calendar year basis, and that sales of
Licensed Products and/or Licensed Processes requiring the payment of
earned royalties made during a prior or subsequent calendar year shall
have no effect on the annual minimum royalty due UFRF for other than
the same calendar year in which the royalties were earned.

	 	4.4	 	Milestone Payments
	 
	 	 	 	Licensee agrees to pay UFRF milestone payments with thirty (30) days of the
first achievement of such milestone, as follows:

	 	 	 	 	 
	Event	 	Due Date	 	Payment
	Issuance of US Patent
	 	 	 	[...***...]
	Pilot scale production of the Licensed
Product
	 	 	 	[...***...]
	First Commercial Sale
	 	December 31, 2016	 	[...***...]

	 	4.5	 	Sublicense Fees

	 	 	 	Licensee shall pay Sublicense fees to UFRF per Section 2.2.2 of this
Agreement within thirty days (30) of the receipt of any such fees from
Sublicensee.

	 	4.6	 	Accounting for Payments

	 	4.6.1	 	Any amounts which remain unpaid
after the date they are due to UFRF under this Section 4, Section
2, Section 7 or any other section of this Agreement shall accrue
interest from the due date at the rate of [...***...] per month.
However, in no event shall this interest provision be construed as
a grant of permission for any payment delays. Licensee shall also
be responsible for repayment to UFRF of any attorney, collection
agency, or other out-of-pocket UFRF expenses required to collect
overdue payments due from this Section 4, Section 2, Section 7 or
any other applicable section of this Agreement.
	 
	 	4.6.2	 	All amounts owing to UFRF under this
Agreement shall be paid in U.S. dollars to UFRF at the following
address:
	 
	 	 	 	University of Florida Research Foundation, Inc.

223 Grinter Hall

PO Box 115500

Gainesville, Florida 32611-5500

Attention: Business Manager
	 
	 	 	 	All monies owing stated in currencies other than U.S. dollars
shall be converted at the rate shown in the Federal Reserve Noon
Valuation — Value of Foreign Currencies on the day preceding the
payment due date.
	 
	 	4.6.3	 	A certified full accounting
statement showing how any amounts payable to UFRF under Section 4
have been calculated shall be submitted to

 

			
	***	 	Confidential Treatment Requested

 Page 7

 

	 	 	 	UFRF on the date of
each such payment. In addition to being certified,
such accounting statements shall contain a written
representation signed by an executive officer of Licensee that
states that the statements are true, accurate, and fairly
represent all amounts payable to UFRF pursuant to this
Agreement. Such accounting shall be on a per-country and
product line, model or trade name basis and shall be summarized
on the form shown in Appendix C—UFRF Royalty Report of this
Agreement.
	 
	 	4.6.4	 	In the event no payment is owed to
UFRF because the amount of minimum royalties paid has not been
exceeded or otherwise, an accounting demonstrating that fact shall
be supplied to UFRF.
	 
	 	4.6.5	 	UFRF is exempt from paying income
taxes under U.S. law. Therefore, all payments due under this
Agreement shall be made without deduction for taxes, assessments,
or other charges of any kind which may be imposed on UFRF by any
government outside of the United States or any political
subdivision of such government with respect to any amounts payable
to UFRF pursuant to this Agreement. All such taxes, assessments,
or other charges shall be assumed by Licensee.

Section 5 Certain Warranties and Disclaimers of UFRF

	 	5.1	 	UFRF warrants that, except as otherwise provided under Section 17.1
of this Agreement with respect to U.S. Government interests, it is the owner of
the Licensed Patents or otherwise has the right to grant the licenses granted to
Licensee in this Agreement. However, nothing in this Agreement shall be
construed as:

	 	5.1.1	 	a warranty or representation by UFRF as to the
validity or scope of any right included in the Licensed Patents;
	 
	 	5.1.2	 	a warranty or representation that anything made,
used, sold or otherwise disposed of under the license granted in this
Agreement will or will not infringe patents of Third Parties;
	 
	 	5.1.3	 	an obligation to bring or prosecute actions or
suits against Third Parties for infringement of Licensed Patents;
	 
	 	5.1.4	 	an obligation to furnish any know-how not provided
in Licensed Patents or any services other than those specified in this
Agreement; or
	 
	 	5.1.5	 	a warranty or representation by UFRF that it will
not grant licenses to others to make, use or sell products not covered by
the claims of the Licensed Patents which may be similar and/or compete
with products made or sold by Licensee.

	 	5.2	 	EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT, UFRF
MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR
IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR
A PARTICULAR PURPOSE, AND VALIDITY OF PATENT RIGHTS CLAIMS, ISSUED OR PENDING.
UFRF ASSUMES NO RESPONSIBILITIES WHATSOEVER WITH RESPECT TO USE, SALE, OR OTHER
DISPOSITION BY LICENSEE, ITS SUBLICENSEE(S), OR

 

			
	***	 	Confidential Treatment Requested

 Page 8

 

	 	 	 	THEIR VENDEES OR OTHER
TRANSFEREES OF PRODUCT INCORPORATING
OR MADE BY USE OF INVENTIONS LICENSED UNDER THIS AGREEMENT.

Section 6 Record Keeping

	 	6.1	 	Licensee and its Sublicensee(s) shall keep books and records
sufficient to verify the accuracy and completeness of Licensee’s and its
Sublicensee(s)’s accounting referred to above, including without limitation,
inventory, purchase and invoice records, manufacturing records, sales analysis,
general ledgers, financial statements, and tax returns relating to the Licensed
Products and/or Licensed Processes. Such books and records shall be preserved
for a period not less than six years after they are created or as required by
federal law, both during and after the term of this Agreement.
	 
	 	6.2	 	Licensee and its Sublicensee(s) shall take all steps necessary so
that UFRF may, within thirty (30) days of its written request, audit, review
and/or copy all of the books and records at a single U.S. location to verify the
accuracy of Licensee’s and its Sublicensee(s)’s accounting. Such review may be
performed by any authorized employees of UFRF as well as by any attorneys and/or
accountants designated by UFRF, upon reasonable notice and during regular
business hours. If a deficiency with regard to any payment hereunder is
determined, Licensee and its Sublicensee(s) shall pay the deficiency within
thirty (30) days of receiving notice thereof along with applicable interest as
described in Section 4.6. If a royalty payment deficiency for a calendar year
exceeds three percent (3%) of the royalties paid for that year, then Licensee and
its Sublicensee(s) shall be responsible for paying UFRF’s out-of-pocket expenses
incurred with respect to such review.
	 
	 	6.3	 	At any time during the term of this agreement, UFRF may request in
writing that Licensee verify the calculation of any past payments owed to UFRF
through the means of a self-audit. Within ninety (90) days of the request,
Licensee shall complete a self-audit of its books and records to verify the
accuracy and completeness of the payments owed. Within thirty (30) days of the
completion of the self-audit, Licensee shall submit to UFRF a report detailing
the findings of the self-audit and the manner in which it was conducted in order
to verify the accuracy and completeness of the payments owed. If Licensee has
determined through its self-audit that there is any payment deficiency, Licensee
shall pay UFRF the deficiency along with applicable interest under Section 4.6
with the submission of the self-audit report to UFRF.

Section 7 Patent Prosecution

	 	7.1	 	UFRF shall prosecute and maintain the Licensed Patents using
counsel of its choice. UFRF shall provide Licensee with copies of all documents
sent to and received from the United States Patent and Trademark Office and
foreign patent offices relating to Licensed Patents. Licensee agrees to keep
such information confidential.
	 
	 	7.2	 	Licensee shall be responsible for and pay all costs and expenses
incurred by UFRF related to the preparation, filing, prosecution (including
interferences), issuance, maintenance, defense (including oppositions) and
reporting of the Licensed Patents within thirty (30) days of receipt of an
invoice from UFRF. It shall be the responsibility of Licensee to keep UFRF fully
apprised of the “small entity” status of Licensee and all Sublicensees with
respect to the U.S. patent laws and with respect to the patent laws of any other
countries, if applicable, and to inform UFRF of any changes in writing of such
status, within thirty (30)

 

			
	***	 	Confidential Treatment Requested

 Page 9

 

	 	 	 	days of any such change. In the case of foreign
patent protection, if Licensee gives sixty
(60) days notice that it intends to decline to reimburse UFRF for patent
expenses for any Licensed Patent in any particular country, then the license
granted hereunder respecting such Licensed Patent shall terminate after such
sixty (60) days and Licensee relinquishes the right to commercialize Licensed
Products in the specified country.

Section 8 Infringement and Invalidity

	 	8.1	 	Licensee shall inform UFRF promptly in writing of any alleged
infringement of the Licensed Patents by a Third Party and of any available
evidence thereof.
	 
	 	8.2	 	During the term of this Agreement, UFRF shall have the right, but
shall not be obligated, to prosecute at its own expense any such infringements of
the Licensed Patents. If UFRF prosecutes any such infringement, Licensee agrees
that UFRF may include Licensee as a co-plaintiff in any such suit, without
expense to Licensee.
	 
	 	8.3	 	UFRF shall diligently strive to make a decision on whether UFRF
will bring an infringement action against the alleged infringer within thirty
(30) days of being notified of any alleged infringement. If within seventy five
(75) days after having been notified of any alleged infringement, UFRF shall have
been unsuccessful in persuading the alleged infringer to desist and shall not
have brought an infringement action against the alleged infringer, or if UFRF
shall notify Licensee at any time prior thereto of its intention not to bring
suit against the alleged infringer, then, and in those events only, Licensee
shall have the right, but shall not be obligated, to prosecute at its own expense
any infringement of the Licensed Patents, and Licensee may, for such purposes,
use the name of UFRF as party plaintiff. No settlement, consent judgment or
other voluntary final disposition of the suit may be entered into without the
consent of UFRF, which consent shall not be unreasonably withheld. Licensee
shall indemnify UFRF against any order for costs that may be made against UFRF in
such proceedings.
	 
	 	8.4	 	In the event that a declaratory judgment action is brought against
UFRF or Licensee by a Third Party alleging invalidity, unpatentability,
unenforceability, or non-infringement of the Licensed Patents, UFRF, at its
option, shall have the right within twenty (20) days after commencement of such
action to take over the sole defense of the action at its own expense. If UFRF
does not exercise this right, and assuming that Licensee is the sole licensee of
the Licensed Patents, Licensee shall have the right but shall not be obligated to
take over the sole defense of the action at Licensee’s sole expense, subject to
Sections 8.5 and 8.6.
	 
	 	8.5	 	In the event that Licensee shall undertake the enforcement by
litigation and/or defense of the Licensed Patents by litigation, UFRF shall have
the right, but not the obligation, to voluntarily join such litigation,
represented by its own counsel at its own expense. Any recovery of damages by
Licensee for any such suit shall be applied first in satisfaction of any
reimbursed expenses and legal fees of Licensee relating to the suit, and next
toward reimbursement of UFRF for any legal fees, and unreimbursed expenses. The
balance remaining from any such recovery shall be divided in the ratio of
[...***...]% to Licensee and [...***...]% to UFRF. In the event that UFRF shall
undertake the enforcement by litigation and/or defense of the Licensed Patents by
litigation, any recovery of damages by UFRF for any such suit shall be applied
first in satisfaction of any reimbursed expenses and legal fees of UFRF relating
to the suit, and next toward reimbursement of Licensee for any legal fees, and
unreimbursed expenses. The balance remaining from any such

 

			
	***	 	Confidential Treatment Requested

 Page 10

 

	 	 	 	recovery shall be
divided in the ratio of [...***...]% to UFRF and [...***...]% to
Licensee.

	 	8.6	 	In any suit in which either Party is involved to enforce or defend
the Licensed Patents pursuant to this Agreement, the other Party hereto shall, at
the request and expense of the Party initiating such suit, cooperate in all
respects and, to the extent possible, have its employees testify when requested
and make available relevant records, papers, information, samples, specimens, and
the like.
	 
	 	8.7	 	In the event Licensee contests the validity of any Licensed
Patents, unless and until UFRF terminates this Agreement pursuant to Section
9.3.9, Licensee shall continue to pay royalties and make other payments pursuant
to this Agreement with respect to that patent as if such contest were not
underway until the patent is adjudicated invalid or unenforceable by a court of
last resort.

Section 9 Term and Termination

	 	9.1	 	The term of this license shall begin on the Effective Date of this
Agreement and continue until the date that no Licensed Patent remains an
enforceable patent.
	 
	 	9.2	 	Licensee may terminate this Agreement at any time by giving at
least sixty (60) days written notice of such termination to UFRF. Such a notice
shall be accompanied by a statement of the reasons for termination.
	 
	 	9.3	 	UFRF may terminate this Agreement by giving Licensee at least
thirty (30) days written notice if Licensee:

	 	9.3.1	 	is delinquent on any report or payment
	 
	 	9.3.2	 	is not diligently developing and commercializing
Licensed Products and Licensed Processes
	 
	 	9.3.3	 	is in breach of any provision
	 
	 	9.3.4	 	provides any false report
	 
	 	9.3.5	 	goes into bankruptcy, liquidation or proposes
having a receiver control any assets
	 
	 	9.3.6	 	violates any laws or regulations of applicable
government entities; or
	 
	 	9.3.7	 	shall cease to carry on its business pertaining to
Licensed Patents
	 
	 	9.3.8	 	if payments of earned royalties under Section 4.4
once begun, ceases for more than two (2) calendar quarters.
	 
	 	9.3.9	 	Termination under this Section 9.3 will take
effect thirty (30) days after written notice by UFRF unless Licensee
remedies the problem in that thirty (30) day period.

	 	9.4	 	If Licensee or any of its Affiliates brings a Patent Challenge
against UFRF, or assists others in bringing a Patent Challenge against UFRF
(except as required under a court 

 

			
	***	 	Confidential Treatment Requested

 Page 11

 

	 	 	 	order or subpoena), then UFRF may immediately
terminate Licensee’s rights under this
Agreement with respect to the Licensed Patent that is the subject of the Patent
Challenge. If a Sublicensee brings a Patent Challenge or assists another party
in bringing a Patent Challenge (except as required under a court order or
subpoena), then UFRF may send a written demand to Licensee to terminate such
Sublicense with respect to such Licensed Patent. Failure by Licensee to do so
shall be deemed to constitute a material breach of this Agreement.

	 	9.5	 	UFRF may immediately terminate this Agreement upon the occurrence
of the second separate default by Licensee within any consecutive three-year
period for failure to pay royalties, patent or any other expenses when due.
	 
	 	9.6	 	Upon the termination of this Agreement for any reason, nothing
herein shall be construed to release either Party from any obligation that
matured prior to the effective date of such termination. Licensee shall remain
obligated to provide an accounting for and to pay royalties earned to the date of
termination, and any minimum royalties shall be prorated as of the date of
termination by the number of days elapsed in the applicable calendar year.
Licensee may, however, after the effective date of such termination, sell all
Licensed Products, and complete Licensed Products in the process of manufacture
at the time of such termination and sell the same, provided that Licensee shall
remain obligated to provide an accounting for and to pay running royalties
thereon.
	 
	 	9.7	 	Licensee shall be obligated to deliver to UFRF, within ninety (90)
days of the date of termination of this agreement, complete and unredacted copies
of all documentation prepared for or submitted for all regulatory approvals of
Licensed Products or Licensed Processes.
	 
	 	9.8	 	Upon termination of this Agreement for any reason, any
Sublicensee(s) not then in default, as determined by UFRF, shall receive from
UFRF a grant similar in scope as the grant set forth in the Sublicense Agreement
with the Licensee and all other rights in the Sublicense Agreement reasonably
necessary to continue the business of such Sublicensee, except that UFRF shall be
under no obligation to grant any rights which UFRF does not have or perform any
services for which it is unsuited. All payments required to be made by such
Sublicensee shall, from the date of termination of this Agreement, be paid to
UFRF.

Section 10 Assignability

	 	 	This Agreement may be transferred or assigned by Licensee to an Affiliate of Licensee
on prior notice to UFRF; provided, however, that Licensee shall remain liable to UFRF
for the performance by such Affiliates of its obligations hereunder. The agreement
may not be transferred or assigned to a Third Party by Licensee except with the prior
written consent of UFRF and UFRF will not withhold such a written consent
unreasonably. Licensee will provide to UFRF a copy of any documents that assign its
rights and obligations to an Affiliate or another entity and any documents detailing
compensation received by Licensee for any assignment of UFRF’s rights to an Affiliate
or another entity. Copies of all relevant documents will be provided to UFRF within
sixty (60) days of execution or UFRF may terminate this Agreement according to
Section 9.3.

Section 11 Dispute Resolution Procedures

 

			
	***	 	Confidential Treatment Requested

 Page 12

 

	 	11.1	 	Mandatory Procedures

In the event either Party intends to file a lawsuit against the other with
respect to any matter in connection with this Agreement, compliance with the
procedures set forth in this Section shall be a condition precedent to the
filing of such lawsuit, other than for injunctive relief. Either Party may
terminate this Agreement as provided in this Agreement without following the
procedures set forth in this section.

	 	11.1.1	 	When a Party intends to invoke the procedures set forth in this
section, written notice shall be provided to the other Party. Within
thirty (30) days of the date of such notice, the Parties agree that
representatives designated by the Parties shall meet at mutually
agreeable times and engage in good faith negotiations at a mutually
convenient location to resolve such dispute.
	 
	 	11.1.2	 	If the Parties fail to meet within the time period set forth in Section
11.1.1 above or if either Party subsequently determines that negotiations
between the representatives of the Parties are at an impasse, the Party
declaring that the negotiations are at an impasse shall give notice to
the other Party stating with particularity the issues that remain in
dispute.
	 
	 	11.1.3	 	Not more than fifteen (15) days after the giving of such notice of
issues, each Party shall deliver to the other Party a list of the names
and addresses of at least three individuals, any one of whom would be
acceptable as a neutral advisor in the dispute (the “Neutral Advisor”) to
the Party delivering the list. Any individual proposed as a Neutral
Advisor shall have experience in determining, mediating, evaluating, or
trying intellectual property litigation and shall not be affiliated with
the Party that is proposing such individual.
	 
	 	11.1.4	 	Within ten (10) days after delivery of such lists, the Parties shall
agree on a Neutral Advisor. If they are unable to so agree within that
time, within five (5) days, they shall each select one individual from
the lists. Within five (5) days, the individuals so selected shall meet
and appoint a third individual from the lists to serve as the Neutral
Advisor. Within thirty (30) days after the selection of a Neutral
Advisor:

 

			
	***	 	Confidential Treatment Requested

 Page 13

 

	 	(a)	 	The Parties shall each provide a
written statement of the issues in dispute to the Neutral Advisor.
	 
	 	(b)	 	The Parties shall meet with the
Neutral Advisor in Gainesville, Florida on a date and time
established by the Neutral Advisor. The meeting must be attended
by persons authorized to make final decisions on behalf of each
Party with respect to the dispute. At the meeting, each Party
shall make a presentation with respect to its position concerning
the dispute. The Neutral Advisor will then discuss the issues
separately with each Party and attempt to resolve all issues in
the dispute. At the meeting, the Parties will enter into a
written settlement agreement with respect to all issues that are
resolved. Such settlement agreement shall be final and binding
with respect to such resolved issues and may not be the subject of
any lawsuit between the parties, other than a suit for enforcement
of the settlement agreement.

	 	11.1.5	 	The expenses of the neutral advisor shall be shared by the Parties
equally. All other out-of-pocket costs and expenses for the alternative
dispute resolution
procedure required under this Section shall be paid by the Party
incurring the same.
	 
	 	11.1.6	 	Positions taken and statements made during this alternative dispute
resolution procedure shall be deemed settlement negotiations and shall
not be admissible for any purpose in any subsequent proceeding.

	 	11.2	 	Failure to Resolve Dispute
	 
	 	 	 	If any issue is not resolved at the meeting with the Neutral Advisor, either
Party may file appropriate administrative or judicial proceedings with respect
to the issue that remains in dispute. No new issues may be included in the
lawsuit without the mandatory procedures set forth in this section having
first been followed.

Section 12 Product Liability; Conduct of Business

	 	12.1	 	Licensee and its Sublicensee(s) shall, at all times during the term
of this Agreement and thereafter, indemnify, defend and hold UFRF, the Florida
Board of Governors, the University of Florida Board of Trustees, the University of
Florida, and each of their directors, officers, employees, and agents, and the
inventors of the Licensed Patents, regardless of whether such inventors are
employed by the University of Florida at the time of the claim, harmless against
all claims and expenses, including legal expenses and reasonable attorneys fees,
whether arising from a third party claim or resulting from UFRF’s enforcing this
indemnification clause against Licensee, arising out of the death of or injury to
any person or persons or out of any damage to property and against any other
claim, proceeding, demand, expense and liability of any kind whatsoever resulting
from the development, production, manufacture, sale, use, lease, consumption,
marketing, or advertisement of Licensed Products or Licensed Process(es) or
arising from any right or obligation of Licensee hereunder. Notwithstanding the
above, UFRF at all times reserves the right to retain counsel of its own to defend
UFRF’s, the Florida Board of Governors’, the University of Florida Board of
Trustees’, the University of Florida’s, and the inventor’s interests.

 

			
	***	 	Confidential Treatment Requested

 Page 14

 

	 	12.2	 	Licensee warrants that it now maintains and will continue to maintain
liability insurance coverage appropriate to the risk involved in development,
producing, manufacturing, selling, marketing, using, leasing, consuming, or
advertising the products subject to this Agreement and that such insurance
coverage lists UFRF, the Florida Board of Governors, the University of Florida
Board of Trustees, the University of Florida, and the inventors of the Licensed
Patents as additional insureds. Within ninety (90) days after the execution of
this Agreement and thereafter annually between January 1 and January 31 of each
year, Licensee will present evidence to UFRF that the coverage is being maintained
with UFRF, the University of Florida, and its inventors listed as additional
insureds. In addition, Licensee shall provide UFRF with at least thirty (30) days
prior written notice of any change in or cancellation of the insurance coverage.

Section 13 Use of Names

	 	 	Licensee and its Sublicensee(s) shall not use the names of UFRF, or of the University
of Florida, nor of any of either institution’s employees, agents, or affiliates, nor
the name of any inventor of Licensed Patents, nor any adaptation of such names, in
any promotional, advertising or marketing materials or any other similar form of
publicity, or to suggest any endorsement by the such
entities or individuals, without the prior written approval of UFRF in each case.

Section 14 Miscellaneous

	 	14.1	 	This Agreement shall be construed in accordance with the internal
laws of the State of Florida
	 
	 	14.2	 	The Parties hereto are independent contractors and not joint
venturers or partners.
	 
	 	14.3	 	Licensee shall ensure that it applies patent markings that meet all
requirements of U.S. law, 35 U.S.C. §287, with respect to all Licensed Products
subject to this Agreement.
	 
	 	14.4	 	This Agreement constitutes the full understanding between the Parties
with reference to the subject matter hereof, and no statements or agreements by or
between the Parties, whether orally or in writing, shall vary or modify the
written terms of this Agreement. Neither Party shall claim any amendment,
modification, or release from any provisions of this Agreement by mutual
agreement, acknowledgment, or otherwise, unless such mutual agreement is in
writing, signed by the other Party, and specifically states that it is an
amendment to this Agreement.
	 
	 	14.5	 	Licensee shall not encumber or otherwise grant a security interest in
any of the rights granted hereunder to any Third Party.
	 
	 	14.6	 	Licensee acknowledges that it is subject to and agrees to abide by
the United States laws and regulations (including the Export Administration Act of
1979 and Arms Export Control Act) controlling the export of technical data,
computer software, laboratory prototypes, biological material, and other
commodities. The transfer of such items may require a license from the cognizant
agency of the U.S. Government or written assurances by Licensee that it shall not
export such items to certain foreign countries and/or foreign persons without
prior approval of such agency. UFRF neither represents that a license is or is
not required or that, if required, it shall be issued.
	 
	 	14.7	 	Licensee is responsible for any and all wire/bank fees associated
with all payments due to

 

			
	***	 	Confidential Treatment Requested

 Page 15

 

	 	 	 	UFRF pursuant to this Agreement.

	 	14.8	 	Survival
	 
	 	 	 	The provisions of this Section shall survive termination of this Agreement.
Upon termination of the Agreement for any reason, the following sections of the
License Agreement will remain in force as non-cancelable obligations:

	 	•	 	Section 6 Record Keeping
	 
	 	•	 	Section 9 Requirement to pay royalties on sale of Licensed Products
made, and in
process, at the time of License Agreement termination
	 
	 	•	 	Section 12 Product Liability; Conduct of Business
	 
	 	•	 	Section 13 Use of Names
	 
	 	•	 	Section 18 Confidentiality

Section 15 Notices

	 	 	Any notice required to be given pursuant to the provisions of this Agreement shall be
in writing
and shall be deemed to have been given

	 	•	 	when delivered personally, or
	 
	 	•	 	if sent by facsimile transmission, when receipt thereof is acknowledged
at the facsimile number of the recipient as set forth below, or
	 
	 	•	 	the second day following the day on which the notice has been delivered
prepaid to a courier service, or
	 
	 	•	 	five (5) business days following deposit in the U.S. mail if sent
certified mail, (return receipt acknowledgement is not required to certify
delivery).

	 	15.1	 	If to the University of Florida Research Foundation, Inc.:

President

University of Florida Research Foundation, Inc.

223 Grinter Hall

University of Florida

Post Office Box 115500

Gainesville, FL 32611-5500

Facsimile Number: 352-846-0505

with a copy to:

Office of Technology Licensing

Attn: Director

308 Walker Hall

University of Florida

Post Office Box 115500

Gainesville, Florida 32611-5500

Facsimile Number: 352-392-6600

	 	15.2	 	If to Licensee:

 

			
	***	 	Confidential Treatment Requested

 Page 16

 

Stephen J. Gatto

Chief Executive Officer

Myriant Technologies Inc

1 Pine Hill Drive

Batterymarch Park II, Suite 301

Quincy, MA 02169

Facsimile Number: 617-657-5210

Section 16 Contract Formation and Authority

	 	 	The submission of this Agreement does not constitute an offer, and this document
shall become effective and binding only upon the execution by duly authorized
representatives of both Licensee and UFRF. Copies of this Agreement that have not
been executed and delivered by both UFRF and Licensee shall not serve as a memorandum
or other writing evidencing an agreement between the Parties. This Agreement shall
automatically terminate and be of no further force and effect, without the
requirement of any notice from UFRF to Licensee, if UFRF does not receive the License
Issue Fee or certificates representing shares issued to UFRF pursuant to this
Agreement, as applicable, within thirty (30) days of the Effective Date.

	 	16.1	 	UFRF and Licensee hereby warrant and represent that the persons
signing this Agreement have authority to execute this Agreement on behalf of the
Party for whom they have signed.
	 
	 	16.2	 	Force Majeure
	 
	 	 	 	No default, delay, or failure to perform on the part of Licensee or UFRF shall
be considered a default, delay or failure to perform otherwise chargeable
hereunder, if such default, delay or failure to perform is due to causes beyond
either Party’s reasonable control including, but not limited to: strikes,
lockouts, or inactions of governmental authorities, epidemics, war, embargoes,
fire, earthquake, hurricane, flood, acts of God, or default of common carrier.
In the event of such default, delay or failure to perform, any date or times by
which either Party is otherwise scheduled to perform shall be extended
automatically for a period of time equal in duration to the time lost by reason
of the excused default, delay or failure to perform.

Section 17 United States Government Interests

	 	17.1	 	It is understood that the United States Government (through any of
its agencies or otherwise) has funded research, Grant No. DE-FG36-04GO14019,
during the course of or under which any of the inventions of the Licensed Patents
were conceived or made. The United States Government is entitled, as a right,
under the provisions of 35 U.S.C. §202-212 and applicable regulations of Title 37
of the Code of Federal Regulations, to a non-exclusive, nontransferable,
irrevocable, paid-up license to practice or have practiced the inventions of such
Licensed Patents for governmental purposes. Any license granted to Licensee in
this Agreement shall be subject to such right.
	 
	 	17.2	 	Licensee agrees that for Licensed Products covered by the Licensed
Patents that are subject to the non-exclusive royalty-free license to the United
States Government, said Licensed Products will be manufactured substantially in
the United States. Licensee further agrees that it shall abide by all the
requirements and limitations of U.S. Code, Title 35, Chapter 18, and implementing
regulations thereof, for all patent applications and patents invented in whole or
in part with federal money.

 

			
	***	 	Confidential Treatment Requested

 Page 17

 

Section 18 Confidentiality

	 	18.1	 	Each Party shall maintain all information of the other Party which
is treated by such other Party as proprietary or confidential (referred to herein
as “Confidential Information”) in confidence, and shall not disclose, divulge or
otherwise communicate such confidential information to others, or use it for any
purpose, except pursuant to, and in order to carry out, the terms and objectives
of this Agreement, and each Party hereby agrees to exercise every reasonable
precaution to prevent and restrain the unauthorized disclosure of such
confidential information by any of its Affiliates, directors, officers,
employees, consultants, subcontractors, Sublicensees or agents. The Parties agree
to keep the terms of this Agreement confidential, provided that each Party may
disclose this Agreement to their authorized agents and investors who are bound by
similar confidentiality provisions. Notwithstanding the foregoing, Confidential
Information of a Party shall not include information which: (a) was lawfully
known by the receiving Party prior to disclosure of such information by the
disclosing Party to the receiving Party; (b) was or becomes generally available
in the public domain, without the fault of the receiving Party; (c) is
subsequently disclosed to the receiving Party by a Third Party having a lawful
right to make such disclosure; (d) is required by law, rule, regulation or
legal process to be disclosed, provided that the receiving Party making such
disclosure shall take all reasonable steps to restrict and maintain to the
extent possible confidentiality of such disclosure and shall provide reasonable
notice to the other Party to allow such Party the opportunity to oppose the
required disclosure; or (e) has been independently developed by employees or
others on behalf of the receiving Party without access to or use of disclosing
Party’s information as demonstrated by written record. Each Party’s
obligations under this Section 18 shall extend for a period of five (5) years
from termination or expiration of this Agreement.

Section 19 University Rules and Regulations 

	 	19.1	 	Licensee understands and agrees that University of Florida
personnel who are engaged by Licensee, whether as consultants, employees or
otherwise, or who possess a material financial interest in Licensee, are subject
to the University of Florida’s rule regarding outside activities and financial
interests set forth in Florida Administrative Code Rule 6C1-1.011, the University
of Florida’s Intellectual Property Policy, and a monitoring plan which addresses
conflicts of interests associated therewith. Any term or condition of an
agreement between Licensee and such University of Florida personnel which seeks
to vary or override such personnel’s obligations to the University of Florida may
not be enforced against such personnel, the University of Florida or UFRF,
without the express written consent of an individual authorized to vary or waive
such obligations on behalf of the University of Florida and UFRF. Furthermore,
should an interest of Licensee conflict with the interest of the University of
Florida, University of Florida personnel are obligated to resolve such conflicts
according to the guidelines and policies set forth by the University of Florida.

Section 20 Integration

	 	20.	 	Entire Agreement. This Agreement contains the entire
agreement between the Parties relating to the subject matter hereof, and all
prior understandings, representations and 

 

			
	***	 	Confidential Treatment Requested

 Page 18

 

	 	 	 	warranties between the Parties -
including, without limitation, that certain Exclusive License Agreement and the
amendments thereof between the Parties dated as of November 30, 2007 are
superseded by this Agreement.

 

			
	***	 	Confidential Treatment Requested

 Page 19

 

IN WITNESS WHEREOF, the Parties hereto have duly executed this Agreement on
the dates indicated below.

UNIVERSITY OF FLORIDA RESEARCH FOUNDATION, INC.

	 	 	 	 	 

	/s/ David L. Day	 	Date: June 16, 2011
	 	 	 
	David L. Day	 	 
	Director of Technology Licensing	 	 
	 
	 	 	 	 
	LICENSEE	 	 
	 
	 	 	 	 
	By:

	 	/s/ Stephen J. Gatto
 

Stephen J. Gatto
	 	Date: June 15, 2011 
	 

	 	Chief Executive Officer	 	 

 

			
	***	 	Confidential Treatment Requested

 Page 20

 

Appendix A — Development Plan

     A Development Plan of the scope outlined below shall be submitted to UFRF by Licensee
prior to the execution of this agreement. In general, the plan should provide UFRF with a summary
overview of the activities that Licensee believes are necessary to bring products to the
marketplace.

	I.	 	Development Program

	 	A.	 	Development activities to be undertaken

	 	 	Year I — II (2011 — 2012)

	 	 	 	Test L-malic acid strains developed at University of Florida under fed-batch
fermentation conditions to evaluate if they have commercially viable strains.

	 	 	Year II — III (2012 — 2013)

	 	 	 	Test the ability of the biocatalyst to grow in a cellulosic hydrolysate and
the ability of the biocatalyst to grow in the non-detoxified cellulosic
hydrolysate.

	 	 	Year IV — V (2013 — 2015)

	 	 	 	Identify the fermentation conditions that would allow the production of
L-Malic acid in a cost-effective commercial scale. Efforts will be made to
improve the productivity, titer and yield of malic acid to commercially
acceptable level.

	 	B.	 	Estimated total development time     5 Years

	II.	 	Governmental Approval

	 	 	 	 	 	 	 

	 

	 	A.
	 	Types of submissions required
	 	Not Applicable
	 
	 	 	 	 	 	 
	 

	 	B.
	 	Government agency, e.g., FDA, EPA, etc.
	 	Not Applicable
	 
	 	 	 	 	 	 
	III.	 	Proposed Market Approach	 	To be completed in 2 years
	 
	 	 	 	 	 	 
	IV.	 	Competitive Information	 	To be gathered in 1 year

	 	A.	 	Potential competitors
	 
	 	B.	 	Potential competitive devices/compositions
	 
	 	C.	 	Known competitor’s plans, developments, technical achievements
	 
	 	D.	 	Anticipated date of product launch

 

			
	***	 	Confidential Treatment Requested

 Page 1

 

Appendix B — Development Report

When appropriate, indicate estimated start date and finish date for activities.

	I.	 	Date Development Plan Initiated and Time Period Covered by this Report.
	 
	II.	 	Development Report (4-8 paragraphs).

	 	A.	 	Activities completed since last report including the object and parameters of
the development, when initiated, when completed and the results.
	 
	 	B.	 	Activities currently under investigation, i.e., ongoing activities including
object and parameters of such activities, when initiated, and projected date of
completion.

	III.	 	Future Development Activities (4-8 paragraphs).

	 	A.	 	Activities to be undertaken before next report including, but not limited to,
the type and object of any studies conducted and their projected starting and
completion dates.
	 
	 	B.	 	Estimated total development time remaining before a product will be
commercialized.

	IV.	 	Changes to Initial Development Plan (2-4 paragraphs).

	 	A.	 	Reasons for change.
	 
	 	B.	 	Variables that may cause additional changes.

	V.	 	Items to be Provided if Applicable:

	 	A.	 	Information relating to Licensed Products or Licensed Processes that has become
publicly available, e.g., published articles, competing products, patents, etc.
	 
	 	B.	 	Development work being performed by Third Parties, other than Licensee, to
include name of Third Party, reasons for use of Third Party, planned future uses of
Third Parties including reasons why and type of work.
	 
	 	C.	 	Update of competitive information trends in industry, government compliance (if
applicable) and market plan.
	 
	 	D.	 	Information and copies of relevant materials evidencing the status of any
patent applications or other protection relating to Licensed Products, or Licensed
Processes or the Licensed Patents.

PLEASE SEND DEVELOPMENT REPORTS TO:

University of Florida Research Foundation, Inc.

Attn: Director

308 Walker Hall

P.O. Box 115500

Gainesville, FL 32611-5500

Facsimile: 352-392-6600

 

			
	***	 	Confidential Treatment Requested

 Page 1

 

Appendix C — UFRF Royalty Report 

Company Name:                                        

If multiple license agreements are required to generate this product, indicate what percentage of
the royalty is attributable to each agreement.

	 	 	 

	UFRF Agreement No.:                     

	 	Percentage:                     
	UFRF Agreement No.:                     

	 	Percentage:                     

	 	 	 

	Period Covered: From:  / /2               

	 	Through:  / /2               

	 	 	 

	Prepared By:                                                             

	 	Date: _____________
	Print Preparer Name:
	 	 

Preparer Email Address: ______________________ Phone No.: _________________

	 	 	 	 	 

	Approved By:

	 	 

	 	Date:                      
	 

	 	(Requires Executive Officer Signature)	 	 
	 
	 	 	 	 
	Print Officer Name:
	 	 	 	 

If license covers multiple product lines, please prepare a separate spreadsheet for each product
line, and a summary report for all products combined.

The spreadsheet should include the following information:

	 	•	 	Product Name
	 
	 	•	 	Country(ies) of Sales (List each country. If royalties vary by country, provide a
breakdown of specified information for each country.)
	 
	 	•	 	Unit Sales
	 
	 	•	 	Gross Sales
	 
	 	•	 	Less Allowances (On a separate page, please indicate the reasons for returns or
other adjustments if significant.)
	 
	 	•	 	Net Sales
	 
	 	•	 	Royalty Rate (Please note any unusual occurrences that affected royalty amounts
during this period. To assist UFRF’s forecasting, please comment on any
market variables that would impact future royalties).
	 
	 	•	 	Total Royalty due this period
	 
	 	•	 	Total Royalty paid last period

 

			
	***	 	Confidential Treatment Requested

 Page 1

 

Appendix D — Milestones

In addition to the research milestones described in Appendix A, the following milestones shall
be completed by the Licensee.

	1.	 	By December 31, 2011, Licensee will provide UFRF a detailed document covering Licensee’s
plans as to projected product development, markets and sales forecasts, manufacturing and
operations, and financial forecasts until at least $[...***...] in revenue are achieved
(“Business Plan”). UFRF will treat this Business Plan according to Section 18 of the
Agreement.
	 
	2.	 	By June 30, 2013, Licensee will provide a report on the efforts made to obtain a biocatalyst
for the production of malic acid in a minimal medium.
	 
	3.	 	By December 31, 2014, Licensee will provide a report on the efforts made to obtain a
biocatalyst for the production of malic acid in a minimal medium containing detoxified and
non-detoxified lignocellulosic hydrolysate.
	 
	4.	 	By December 31, 2015, Licensee will provide a report on the efforts made to improve the
titer, yield and productivity of malic acid to a commercially acceptable level.
	 
	5.	 	By December 31, 2016 Licensee will obtain purchase orders from at least two customers.
	 
	6.	 	Continue to sell Licensed Product every six months after the date of first sale of a Licensed
Product.
	 
	7.	 	By May 31, 2018, Licensee will reach annual Net Sales of at least $[...***...].

 

			
	***	 	Confidential Treatment Requested

 Page 1exv10w34

Exhibit 10.34

*** Text Omitted and Filed Separately

Confidential Treatment Requested

Under 17 C.F.R. §§ 200.80(b)(4)

and 203.406

SERVICES AGREEMENT

Agreement Number MYSAB-001

     This Agreement is entered into this 17th day of March, 2010 between Myriant Technologies, LLC,
a Delaware LLC (the “Owner”)whose address is 1 Pine Hill Drive, Batterymarch II, Suite 301,
Quincy, MA 02169, and Vogelbusch USA a Texas corporation (the [“Contractor”]) whose address
is 1810 Snake River Road, Katy TX, 77449.

     In consideration of the covenants hereinafter set forth and for other good and valuable
consideration, the sufficiency of which is hereby acknowledged, the parties hereto mutually agree
as follows:

     1. Definitions. “Agreement” and “Contract” means this Agreement and
any subsequent written work order or agreement (together with any drawings, specifications or other
exhibits attached to it) between the parties for work. “Work” means all labor, goods,
materials and services required to be performed and furnished by Contractor under any Agreement.

     2. Scope of Work. The Contractor shall perform the Work as set forth in Exhibit 1.
The Owner and Contractor shall each appoint an individual who shall be designated to act on their
respective behalf (the “Designated Representative”) and with whom the other party may
consult at all reasonable times, and whose instructions, requests and decisions will be binding
upon the party represented as to all matters pertaining to the Work under this Agreement and the
performance of the party whose interests are represented.

     3. Location. Services under this Agreement may be performed at any location in the
continental United States where Contractor and Owner mutually agree upon such service. Services may
be performed at any office of the Contractor or at offices of the Owner. Contractor employees,
working at the offices of the Owner, will work under the supervision and direction of the Owner.

     4. Payment for Work. Payment for Work shall be as provided in Exhibit 1. Payment for
Work performed, in accordance with Exhibit 1, shall be made by Owner to Contractor in accordance
with Contractor‘s then current rate schedule or as defined in Exhibit 1 if lump sum. Contractor
shall furnish Owner its rate schedule prior to commencing any such Work and notify Owner in writing
of any changes in the rate schedule. Neither payment for nor use of Work in whole or in part by
Owner shall constitute acceptance of any Work or materials which do not conform to Agreement terms
and specifications or settlement of any unsettled claims, liabilities, duties, liens or other
encumbrances.

     5. Time of Performance: Completion of work and deliverables is expected as provided
and defined in Exhibit 1.

     a. Delays: If deliverable dates are exceeded or not realized due to either Contractor or Owner
delays, compensation as defined in Exhibit 1 will be subject to an equitable adjustment.

     b. Force Majeure: In the event Contractor or Owner is delayed in performing any of their
respective obligation in this Agreement and such delay is caused by acts of God, war, riots, civil
insurrection, act of the public enemy, strikes, lockouts, accidents, acts of civil or military
authority, fires, floods, earthquakes, or windstorms, beyond the reasonable control of the party
delayed, such delay shall be excused. In the event any

 

*** Confidential Treatment Requested

 

 

such delay due to the foregoing causes or events occurs or is anticipated, the party delayed
or anticipating delay shall promptly notify the other party of the estimated duration of such
delay. In the event of a delay due to the foregoing causes or events, whether such delay is excused
or not, the party delayed shall, at not cost to the other party, exercise due diligence to shorten
and avoid the delay and shall keep the other party advised as to the continuance of the delay and
steps taken to shorten or terminate the delay. Contractor agrees that Contractor shall only be
entitled to equitable adjustments in its compensation and/or time for performance.

     6. Scope of Work Changes. The scope of work shall be subject to changes by additions,
deletions or revisions thereto by Owner. Contractor will be advised of any such changes by written
change orders or other written notification from Owner describing the change. Contractor shall
promptly perform and strictly comply with each such change when released in writing by Owner to
perform such change. If Contractor believes that its performance of any change would justify
modification of the Agreement price or time for performance of the Work, Contractor shall
immediately notify the Owner and a mutually agreed to equitable modification of the Agreement price
and/or time to perform the Work will be made to reflect additional costs and/or time to perform the
Work as changed.

     7. Standard of Care. Contractor represents that the Work performed and that all plans
and specifications prepared and furnished shall be in conformity with all of the specific
requirements, performances and capacities required by this Agreement and, to the extent unspecified
in this Agreement, in accordance with applicable codes and recognized standards of good practice.
If Owner discovers a non-conformity after completion of the Work, Engineer, at its cost and expense
shall perform, to the extent requested by Owner, all corrective engineering, design and other home
office services necessary for conformity.

     8. Independent Contractor. Contractor is and shall be an independent contractor with
respect to Work, and neither Contractor nor its employees or subcontractors or their employees
shall be deemed, for any purpose, to be the employee, agent, servant, or representative of Owner in
the performance of Work. Owner shall have no direction or control of the Contractor or its
employees and agents except in the results to be obtained, and except for those employees working
at the offices of Owner to supplement the technical staff of the Owner. Work shall conform with all
applicable specifications and meet the approval of Owner and shall be subject to the general right
of inspection by or for Owner. The actual performance and superintendence of Work shall be by
Contractor, but Owner or its representative shall have access to Contractor operations to determine
whether Work is being performed by Contractor in accordance with the Agreement.

     9. Employment Practices. Contractor shall comply fully with the requirements of any
laws, rules or regulations relating to employment practices. In the performance of the Work,
Contractor shall not discriminate against any employee or applicant for employment because of race,
creed, color, age, marital status, sex, national origin or disability. Contractor will take all
affirmative action required by law to ensure that applicants are employed, and that employees are
treated during employment, without regard to their race, creed, color, age, sex, national origin or
disability, including but not limited to employment, upgrading, demotion, or transfer, recruitment
advertisement, lay-off or termination, rates of pay or other forms of compensation, and selection
for training.

     10. Employment Contributions and Benefits. Contractor agrees to accept full and
exclusive liability for the payment of and to pay when due any and all premiums, contributions and
taxes for Worker’s Compensation Insurance and Unemployment Insurance and for old age pensions,
annuities and other retirement benefits imposed by or pursuant to Federal or State law and measured
by the wages, salaries or other remuneration paid to persons employed by Contractor; and Contractor
further agrees to indemnify and hold

 

*** Confidential Treatment Requested

 - 2 - 

 

Owner harmless against any liability for any such premiums, taxes or contributions which may
be assessed against Owner with respect to Contractor, its employees or subcontractors.

     11. Taxes and Fees. Contractor agrees to accept full and exclusive liability for the
payment of and to pay when due all taxes, licenses and fees levied or assessed by any governmental
agency on Contractor in connection with or incident to the performance of any Agreement. Contractor
agrees to reimburse Owner on demand for all such local, state or federal taxes or governmental
charges which Owner may be required or deem it necessary to pay on account of employees of
Contractor from Owner. Contractor agrees to furnish Owner with timely, sufficient and accurate
information to make such reports and to pay such taxes and governmental charges if requested by
Owner.

     12. Labor and Materials. Engineer shall pay all claims for labor and material related
to the Work and shall not permit any liens of any kind to be fixed against the property of Owner or
the property of others arising out of claims of Contractor, its employees, [other employed persons,
subcontractors]; and upon the completion of the Work, Contractor shall furnish Owner with evidence
satisfactory to Owner of the payment of all such claims. Contractor shall indemnify and hold
harmless Owner from an against all such claims or liens; and Contractor agrees, that, without
waiver of any other rights or remedies available to Owner, any sums due to Contractor from Owner
may be withheld and applied by Owner toward the discharge or payment of any such claims or liens.

     13. Owner Premises. Contractor shall conform and shall require its employees, agents
and subcontractors to conform, while at or near the location of the Work or on Owner’s premises, to
all requirements of Owner, including, but not limited to, Owner’s rules of conduct, safety rules,
contractor safety policies, routes of ingress and egress and other requirements for the protection
of persons or property. Contractor shall provide and take all safety precautions which the nature
of the Work may require or indicate and keep the Work location free from accumulations of water and
rubbish. Upon completion of all Work, Contractor shall clean up and dispose all waster and rubbish
generated by it or its subcontractors.

     14. Compliance with Regulations. Contractor agrees that all services hereunder shall
comply with all applicable laws, ordinances, statutes, rules and regulations, federal, state,
territorial, provincial, local, county and municipal laws, particularly those relating to wages,
hours and working conditions. Engineer agrees to procure and pay for all permits and inspections
required by any governmental authority for any part of the Work and shall furnish any bonds,
security or deposits required to permit performance of the Work. Contractor agrees to indemnify and
hold Owner harmless from and against any and all claims arising out of or in connection with any
violation or infraction by Contractor of any law, order, citation, rule, regulation, standard,
ordinance or statute and from any penalties imposed on account of violation thereof.

     15. Insurance. Contractor agrees to maintain insurance against the following risk
during the term of the Agreement:

     a. workers compensation in statutory amounts and employer’s liability for Contractor’s
employees’ Project-related injuries or disease;

     b. general liability and automobile liability each in the amount of $1,000,000 for personal
injury or property damange to third parties which arises from Contractor’s performance under this
Agreement; and

     c. professional liability in the amount of $1,000,000 for legal obligations arising out of
Contractor’s failure to meet the Standard of Care.

 

*** Confidential Treatment Requested

 - 3 - 

 

     17. Indemnity. Contractor agrees, to the fullest extent permitted by law, to
indemnify and hold harmless the Owner, its directors, officers, agents and employees and their
successors, heirs and assigns (“Indemnified Parties”) from and against all damages,
liabilities or costs, including reasonable attorney’s fees and defense costs, to the extent caused
by Contractor’s negligent performance of services under this Agreement and that of its
subcontractors or anyone for who the Contractor is legally liable. The Owner agrees, to the fullest
extent permitted by law, to indemnify and hold harmless the Contractor, it directors, officers,
employees, and subcontractor (collectively, Contractor) against all damages, liabilities or costs,
including reasonable attorney’s fees and defense costs, to the extent caused by the Owner’s
negligent acts in connection with the Work and the acts of its contractors, subcontractors or
anyone for whom the Owner is legally liable. Neither the Owner nor the Contractor shall be
obligated to indemnify the other party in any manner whatsoever for the other party’s own
negligence.

     16. Consequential Damages. Notwithstanding any other provision of this Agreement, and
to the fullest extent permitted by law, neither the Owner nor the Contractor, their respective
officers, directors, partners, employees, contractors or subcontractors shall be liable to the
other or shall make any claim for any incidental, indirect or consequential damages arising out of
or connected in any way to the Work or to this Agreement. This mutual waiver of consequential
damages shall include, but is not limited to, loss of use, loss of profit, loss of business, loss
of income, loss of reputation or any other consequential damages that either party may have
incurred from any cause of action including negligence, strict liability, breach of contract and
breach of strict or implied warranty. Both the Owner and the Contractor shall require similar
waivers of consequential damages protecting all the entities or persons named herein in all
Agreements, contracts and subcontracts with others involved in this Work.

     17. Patents and Licenses. Contractor represents that the use or construction of any
and all tools, equipment and processes furnished by Contractor and used in any Work does not
infringe on any license or patent which has been issued or applied for and, in addition to other
indemnifying provisions contained in the Agreement, Contractor agrees to indemnify and hold Owner
harmless from any claims, demands and causes of action in favor of or made by any patentee,
licensee or claimant of any right or priority to such tool, equipment or process, or the use or
construction thereof, which may result from or arise out of furnishing or use of any such tool,
equipment, or process by Contractor.

     18. Inspection and Approval. Owner shall have the right to inspect and approve Work
in progress and/or as submitted for review and approval. Failure of Owner or any of its
representatives to uncover errors or omissions in Contractor Work shall in no way relieve
Contractor of its responsibilities under this Agreement.

     19. Documentation and Audit Rights. All costs, expenses and other amounts invoiced
shall be substantiated and supported by invoices, timesheets, receipts and other documents.
Contractor shall maintain all records and accounts pertaining to Work performed by Contractor under
this Agreement for a period of two (2) years after final payment under this Agreement. Owner shall
have the right to audit, copy and inspect said records and accounts at reasonable times during the
course of such Work and for the above two (2) year period for the purpose of verifying costs
incurred.

     20. Confidential Information. Contractor agrees that it, its employees, agents and
subcontractors will hold confidential and not divulge to third parties without the written consent
of Owner any information obtained by Contractor from or through Owner in connection with
Contractor’s performance under this Agreement, unless (a) the information was known to Contractor
prior to obtaining same from Owner and was not obtained under a secrecy obligation to Owner
pursuant to a prior Agreement; or (b) the information was at

 

*** Confidential Treatment Requested

 - 4 - 

 

the time of disclosure to Contractor, or thereafter becomes, part of the public domain but not
as a result of fault or an unauthorized disclosure of Contractor or its employees, agents or
subcontractors; or (c) the information was obtained by Contractor from a third party who did not
receive the same, directly or indirectly, from Owner and who had, to Contractor’s knowledge and
belief, the right to disclose the name.

     21. Subcontracting. No subcontract may be awarded by Contractor unless approved in
advance by Owner in writing. Contractor shall be and remain primarily liable for all obligations
assumed by Contractor under this Agreement. Contractor’s subcontracting of any portion of the Work
shall not release or relieve Contractor from any obligation or liability under any Agreement.
Contractor shall furnish Owner with a true and complete copy of each subcontract awarded by
Contractor, upon performance of its Subcontractors and keep accurate books, records and accounts
and furnish such reports and information as Owner may request relative to subcontracts.

     22. Other Contracts. Owner may perform Work not covered by this Agreement and may
award contracts and subcontracts to others for such Work. Contractor shall fully cooperate with
Owner and/or such other contractors and subcontractors and carefully fit and coordinate its own
Work with the work of Owner and such other contractors and subcontractors, neither committing nor
permitting any act, omission or condition which might interfere with or adversely affect the
performance of work by Owner or any other contractor or subcontractor.

     23. Suspension of Work.

a. Owner may at any time, and from time to time, by written, facsimile or telegraphic
notice to Contractor suspend further performance of the Work by Contractor. Said notice
of suspension shall specify the date of suspension and the estimated duration of the
suspension. Upon receiving any such notice of suspension, Contractor will promptly
suspend further performance of the Work to the extent specified. Owner may at any time
withdraw the suspension of performance of the Work as to all or part of the suspended
Work by written, facsimile or telegraphic notice to Contractor specifying the effective
date and scope of withdrawal, and Contractor shall resume diligent performance of the
Work for which the suspension is withdrawn on the specified effective date of withdrawal.

b. If Contractor believes that any such suspension or withdrawal of suspension justifies
modification of the Agreement price, Contractor shall notify the Owner within ten (10)
days. Contractor’s claim for modification of the Agreement price shall substantiate
Contractor’s increased costs with documents satisfactory to Owner. Upon Owner
verification and approval of such additional costs, Contractor and Owner shall agree upon
an adjustment in the Agreement price based upon such verified and approved additional
costs as full settlement to Contractor for the suspension or withdrawal of suspension. In
no event shall Contractor be entitled to any prospective profits or any damages because
of such suspensions or withdrawals of suspension.

     24. Termination. Either party may terminate this Agreement by giving the other party
thirty (30)-day written notice, but neither party shall, by the termination of the Agreement, be
relieved of its respective obligations and liabilities arising from or incidental to Work performed
prior to termination. Except as expressly provided in this Agreement, it may not be terminated
during the performance of any work order.

 

*** Confidential Treatment Requested

 - 5 - 

 

     25. Third Party Rights. This agreement shall not create any rights or benefits to
parties other than Contractor and owner. No third party shall have the right to rely on Contractor
opinions rendered in connection with the services without the written consent of Contractor and the
third party’s agreement to be bound to the same conditions and limitations as Owner.

     26. Assignment. Neither party to this Agreement shall assign its duties and
obligations hereunder without the prior written consent of the other party.

     27. Survival. As part of the consideration for this Agreement, Contractor hereby
agrees that its provisions concerning indemnity, waiver of subrogation and patent infringement
shall extend to and be enforceable by and shall inure to the benefit of any owner, joint owner,
co-venturer, operator or non-operator for which Owner is acting and shall survive completion of any
Work and the termination of this Agreement.

     28. Governing Law. In the even of any dispute between the parties to this Agreement,
the venue for the dispute resolution shall be any state or federal court in the United States
having jurisdiction over the parties. The foregoing notwithstanding, if the project is located
outside the United States, the laws of the Massachusetts shall govern and in such event, any
dispute under the Agreement not resolved amicably shall be resolved under the binding rules of the
American Arbitration Association.

     29. Severability. If any part of this Agreement is held by a court of competent
jurisdiction to be ineffective, the remainder of the Agreement shall be in full force and effect.

     30. Authorized Representative. Owner and Contractor both represent and warrant that
the person executing this Agreement and any other Agreements on behalf of Owner and Contractor is a
duly authorized representative of Owner or [“Service”] and is vested with full authority to bind
Owner or Contractor.

     31. Notices. All notices, to be given with respect to this Agreement, shall be in
writing, and if to Owner sufficient if delivered in person to one of its officers or sent through
mail or by courier to the following address:

Myriant Technologies, LLC

1 Pine Hill Drive

Battermarch II, Suite 301

Quincy MA 02169

     All notices to be delivered to Contractor shall be sufficient if delivered in person to the
Contractor’s representative, or sent by mail or courier to the following address:

Vogelbusch USA, Inc.

1810 Snake River Road

Katy, TX 77449

     32. Entire Agreement. This Agreement sets forth the full and complete understanding
of the parties as of the date first above stated, and it supersedes any and all agreements and
representations made or dated prior thereto. Any written and signed agreements dated subsequent to
the date of this Agreement shall constitute modifications hereof, even though this contract
document may have been actually executed subsequently.

 

*** Confidential Treatment Requested

 - 6 - 

 

     33. Exhibits. The Exhibits checked below and attached to this Agreement are
incorporated in and made a part of it for all purposes:

     Exhibit 1: Scope of Work/Payment-Cost Terms

     In the Event of any conflict between the foregoing terms of this Agreement and the Exhibits,
the foregoing terms of this Agreement shall prevail.

	 	 	 	 	 	 	 

	 	 	Vogelbusch USA, (CONTRACTOR)	 	 
	 
	 	 	 	 	 	 
	 

	 	BY:
	 	/s/ Gunter Brodl
 

	 	 
	 	 	NAME: Gunter Brodl	 	 
	 	 	TITLE: President	 	 
	 
	 	 	 	 	 	 
	 	 	DATE: 3/17/2010	 	 
	 
	 	 	 	 	 	 
	 	 	Myriant Technologies, LLC, (OWNER)	 	 
	 
	 	 	 	 	 	 
	 

	 	BY:
	 	/s/ Cenan Ozmeral
 

	 	 
	 	 	NAME: Cenan Ozmeral	 	 
	 	 	TITLE: Executive Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	DATE: 4/7/2010	 	 

 

*** Confidential Treatment Requested

 - 7 - 

 

EXHIBIT 1

SCOPE OF WORK/PAYMENT-COSTS TERMS

General Project Scope:

Design basis : deliver a total [...***...] /year (333 days) of Glucose dry weight from US No 2
grain sorghum .

The glucose stream will be delivered as follows:

	 	1.	 	[...***...] /year of glucose dry weight at a concentration of not less than [...***...]
w/w corresponding to [...***...] at [...***...].

The battery limits for the Vogelbusch process will start with the weighing device where milled
sorghum is metered to the wet process and end with the storage tanks where the glucose streams are
delivered for further processing. The glucose streams will be delivered at a temperature of not
less than [...***...]. [...***...] of glucose streams prior to fermentation will be designed by
others and is not included in the battery limits.

The process design will be based on a continuous cooking and conversion process, followed by flash
cooling to [...***...] and a saccharification step.

A [...***...] process will be used.

The “mash” after saccharification will be filtered to remove solids and washed to recover glucose.

The filter residue will be dried to [...***...] content, cooled and delivered to be stored in a
flat storage area (storage area design by others)

A1: Basic design — the following documents will be provided for the basic design stage:

	 	•	 	Block flow diagram with overall material balance and utility consumption
(PDF and CAD)
	 
	 	•	 	Process flow diagrams with stream data (PDF and CAD)
	 
	 	•	 	Initial equipment lists with main sizes/duties and estimated costs
	 
	 	•	 	Process description
	 
	 	•	 	Preliminary cost estimate (factored estimate from equipment costs)

At this point a review of design will take place and all parameters will be frozen for detail
design.

Cost : $[...***...].

Payment terms : Progress payments

     $[...***...] with P.O

     $[...***...] with delivery of design documentation

 

*** Confidential Treatment Requested

 - 8 - 

 

     $[...***...] with cost estimate

Delivery : Design documentation 4 weeks ARO —  Cost estimate 6 weeks ARO

A2. Detail design

After the review and final definition of parameters the following additional information will be provided:

	 	•	 	PID diagrams and line lists (PDF and CAD)
	 
	 	•	 	Instrument data sheets
	 
	 	•	 	Equipment specifications and updated equipment lists
	 
	 	•	 	Preliminary plot plan (based on your site) (PDF and CAD)
	 
	 	•	 	Preliminary Layout and elevation drawings (PDF and CAD)
	 
	 	•	 	Operating description including interlock and complex loop descriptions.
	 
	 	•	 	Quality control manual including lab procedures

Cost : $[...***...] (in addition to A1)

Payment terms : Progress payments

     $[...***...] with P.O

     $[...***...] with delivery of PID’s

     $[...***...] with delivery of Equipment specifications & Lists

     $[...***...] with delivery of all other documentation

Delivery : All design documentation 6 weeks ARO — we will release documentation earlier as it
becomes available.

If both A1 and A2 are ordered at the same time we can reduce the delivery time to 8 weeks ARO for
both items, provided that no major changes are made in the initial review.

	B.	 	Grain Storage/Milling Conceptual Design: 

In order to allow Myriant to make a decision whether to buy milled sorghum flour or process
whole sorghum grain in the plant, Vogelbusch USA Inc. offers to provide a conceptual design and
cost estimate for grain storage and milling.

The following documentation can be provided :

	 	•	 	Process flow schematics (PDF and CAD)
	 
	 	•	 	Equipment list with sizes/duties and electrical horsepower requirements
	 
	 	•	 	Capital cost estimate factored from equipment costs.
	 
	 	•	 	Operating cost estimate.

We would obtain budget costs for major equipment items from vendors who specialize in this
type of equipment.

 

*** Confidential Treatment Requested

 - 9 - 

 

Cost : $[...***...]

Delivery : 6 weeks ARO (assuming vendor response within 2 weeks after inquiry)

 

*** Confidential Treatment Requested

 - 10 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}]]