Notice of Termination of Operating Agreement between Solazyme, Inc. and Archer-Daniels-Midland Company
Solazyme, Inc. is formally notifying Archer-Daniels-Midland Company (ADM) that it is terminating their Operating Agreement, effective 120 days from the date of this notice. The termination is made under the terms specified in the agreement. As a result, the related Strategic Collaboration Agreement between the two companies will also end on the same date. This letter serves as official notice to ADM and its General Counsel.
Exhibit 10.1
[Solazyme, Inc. Letterhead]
October 29, 2015
Archer-Daniels-Midland Company
4666 Faries Parkway
Decatur, Illinois 62526
Attn: Kevin Moore
By Federal Express
Re: Termination of Operating Agreement by and between Solazyme, Inc. (“Solazyme”) and Archer-Daniels-Midland Company (“ADM”) entered into as of November 13, 2012 (the “Operating Agreement”)
Dear Sir/Madame:
Solazyme hereby gives notice under Section 17(b)(ii) of the Operating Agreement that it is terminating the Operating Agreement as of the date (the “Termination Date”) that is one hundred twenty (120) days after the date of this notice. Solazyme has determined that the requirements set forth in Section 17(b)(ii) have occurred. As a result of the termination of the Operating Agreement, pursuant to Section 17.3(d) of the Strategic Collaboration Agreement by and between Solazyme and ADM entered into as of November 13, 2012 (the “SCA”), the SCA will terminate concurrently with the termination of the Operating Agreement (i.e., on the Termination Date).
Yours truly,
SOLAZYME, INC.
| By: | /s/ Jonathan Wolfson | |
| Jonathan Wolfson | ||
| Chief Executive Officer |
Copy to:
Archer-Daniels-Midland Company
4666 Faries Parkway
Decatur, Illinois 62526
Attn: General Counsel
By Federal Express and by facsimile to (217) ###-###-####
