Option Exercise Notice under Commercial License Agreement between Calyxt Inc. and Two Blades Foundation
Calyxt Inc. notifies Two Blades Foundation that it is exercising its option, under their Commercial License Agreement dated December 9, 2014, to add certain crop plants to the list of licensed crops. Calyxt confirms it has sent written notice and initiated payment of a non-refundable license fee as required by the agreement. This action expands Calyxt's licensed rights to additional crops, as specified in the agreement, and fulfills the conditions for exercising the option.
Exhibit 10.9
CONFIDENTIAL TREATMENT REQUESTED UNDER RULE 406
UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
[*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL
TREATMENT REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED
MATERIAL HAS BEEN FILED SEPARATELY WITH THE COMMISSION.
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| Two Blades Foundation [*****] | ||||
|
Att: Diana Horvath |
New Brighton, December 31st, 2015
Subject: Commercial License Agreement effective on December 9th, 2014—Option exercise for [*****]
Dear Dr. Horvath,
Reference is made to the Commercial License Agreement made effective on December 9, 2014 between Calyxt Inc. (“Calyxt” or “CPS”, initially known as Cellectis Plant Sciences Inc.) and Two Blades Foundation (hereinafter the “Agreement”).
Pursuant to the Section 2.1 (c) of the Agreement, CPS has an option to add crop plants of its choice to the “Licensed Crops” subject to sending written notice thereof and paying amounts set in Section 3.1 (c) of the Agreement to Two Blades Foundation (the “Option”).
We are very pleased to inform you that Calyxt hereby exercises this Option for the [*****] following crop plants: [*****]. Therefore, as per the provisions of Section 3.1 (c) of the Agreement, Calyxt has initiated the payment of the irrevocable and non-refundable license fee of [*****] in compensation for the exercise of the Option for the [*****] additional crops.
Yours sincerely,
/s/ Luc Mathis
Luc Mathis
Chief Executive Officer
Calyxt Inc., 600 County Road D W., Suite 8, New Brighton, MN 55112, USA, Phone ###-###-#### ***@***, www.calyxt.com
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