Side Letter Agreement between Maxygen, Inc. and Codexis, Inc. Regarding License Agreement Compliance (February 18, 2005)
This agreement is between Maxygen, Inc. and Codexis, Inc. It confirms that Codexis has met certain expenditure requirements under a previous license agreement related to specific chemical products. As a result, Maxygen agrees that certain monomers can now be considered supplemental products for use by Codexis, with some exclusions. The letter is signed by both parties to acknowledge their mutual understanding and agreement.
EXHIBIT 10.7
[*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
 | Maxygen, Inc. 200 Penobscot Drive Redwood City, CA 94063 650 ###-###-#### main 650 ###-###-#### fax www.maxygen.com |
February 18, 2005
Dr. John Grate
Codexis, Inc.
200 Penobscot Drive
Redwood City, CA 94063
Dear John:
I acknowledge your letter dated February 17, 2005, retracting the letter dated January 6, 2005 from Tassos Gianakakos.
This will confirm our agreement reached in our meeting of February 18, 2005 that, based on Codexis’ representations in its letter dated February 8, 2005 regarding the expenditures made by Codexis, Inc. and Cargill, Inc. with respect to 3-HP, Codexis has satisfied the requirements of Section 2.1.6(a) of the License Agreement entered March 28, 2002, between Codexis and Maxygen, as amended, for Subfield I, Category (b) set forth on Exhibit G to the License Agreement.
Accordingly, Maxygen agrees that, as of the date of this letter, [*] monomers that are amino carboxylic acids, hydroxy carboxylic acids, olefinic carboxylates and/or hydroxy acids, shall be Supplemental Products (as defined in the Agreement) that may be used to make polymers (excluding polymers for use for [*] and/or [*]).
Please indicate Codexis’ agreement to the foregoing by countersigning below.
| Yours sincerely, | ||
| /s/ Michael Rabson | ||
| Michael S. Rabson | ||
| UNDERSTOOD AND AGREED | ||||
| BY CODEXIS, INC. | ||||
| By: | /s/ John H. Grate | |||
| Name: | John H. Grate | |||
| Title: | VP, R&D and CTO | |||
| Date: | 3-4-05 | |||
