Amendment to Consulting Agreement between Maxygen, Inc. and Waverley Associates, Inc.
Maxygen, Inc. and Waverley Associates, Inc. have agreed to amend their existing Consulting Agreement, originally effective April 1, 2006. The amendment increases the monthly consulting fee paid by Maxygen to Waverley to $50,000, effective September 22, 2009. All other terms and conditions of the original agreement remain unchanged, and Waverley will continue to provide consulting services as previously agreed.
Exhibit 10.4
October 8, 2009
Waverley Associates, Inc.
[Address]
Attn: Isaac Stein
| Re: | Amendment of Consulting Agreement |
Dear Isaac:
This will confirm the agreement of Maxygen, Inc. (the “Company”) and Waverley Associates, Inc. (“Waverley”) to amend that certain Consulting Agreement, effective April 1, 2006 (as amended to date, the “Agreement”), between the Company and Waverley. All capitalized terms under this letter amendment shall have the same meanings as those ascribed in the Agreement.
The Company and Waverley hereby amend Section 2 of the Agreement to increase the consulting fee payable by the Company to Consultant under the Agreement to the amount of fifty thousand dollars ($50,000) per month effective as of September 22, 2009.
Except as expressly provided in this letter amendment, all terms and conditions of the Agreement shall remain unchanged, and during the successive term(s) of the Agreement the Consultant will continue to provide consulting services to the Company and its affiliates in accordance with such terms and conditions.
| Yours sincerely, |
| /s/ Ernest Mario |
| Ernest Mario |
| Chairman of Maxygen |
| Compensation Committee |
| UNDERSTOOD AND AGREED |
| BY WAVERLEY ASSOCIATES, INC. |
| Signature: /s/ Isaac Stein |
| Date: October 13, 2009 |
