合资框架协议模板(英文)JOINTVENTUREFRAMEWORKAGREEMENT

1JOINTVENTUREFRAMEWORKAGREEMENTThisJointVentureFrameworkAgreement("Agreement5)isenteredintoasofAugust5,2011(the"EffectiveDate"),byandbetweenBungeGlobalInnovation,LLC,aDelawarelimitedliabilitycompanywithaprincipalplaceofbusinessat50MamStreet.WhitePlains,NY10606(“Bunge")andSolazyme,Inc.,aDelawarecompanywithaprincipalplaceofbusinessat225GatewayBoulevard,SouthSanFrancisco,CA94080("Solazynie").WITNESSETH:WHEREAS,BungeanditsAffiliatesareaglobalprocessorofsoybeans,rapeseed,canola,sunflowerseeds,corn,wheat,sugarcaneandotheragriculturalcommoditiesusedtomakeproductsandingredientswithnumerousapplications;WHEREAS.Solazymeisarenewableoilandbioproductscompanywithexpertiseandintellectualpropertyintheareaoftheuseofmicrobesasbiocatalystsforconvertingcarbonsourcesintolipidsinnon-photosynthelicprocesses;WHEREAS,certainAffiliatesofBungehaveaccesstofeedstock,suchassugarcane,thatcouldbeuseEilincoiyunctionwithSolazyme'smicrobialbiotechnology7todevelopandcommercializeproductsintheField;WHEREAS,thePartieshaveenteredintoaJointDevelopmentAgreementdatedMay2,2011(the"JointDevelopmentAgreement^),whereinthePartieshaveagreedtoengageinjointresearchanddevelopmenttoexplorethefeasibilityoftheproductionoflipidrichbiomassfromBraziliansugarcanefeedstockasfurthersetforthintheJointDevelopmentAgreement;WHEREAS,basedontheanticipatedsuccessoftheJointDevelopmentAgreement.SolazymeandBungeareinterestedinforminganewjointventurecompany(the“Company")toproducetriglycerideoilsinBrazilforuseintheField:andWHEREAS,SolazymeandBungedesiretoenterintothisdefinitiveagreementtoregulatecertainaspectsoftherelationshipbetweenthePartiesbetweentheEffectiveDateandtheClosing,setforthcertainotherobligations,andsetforththeirexpectationsforfuturedefinitiveagreementsthatwillregulatetherelationshipamongthePartiesandtheirrespectiveAffiliatesrelatingtotheCompany.NOW,THEREFORE.inconsiderationoftheagreementsandobligationssetforthhereinandforothergoodandvaluableconsideration,thereceiptandsufficiencyofwhichareherebyacknowledged,theParties,intendingtobelegallybound,doherebyagreeasfollows:INTERPRETATIONDefinedTerms.CapitalizedtermsusedinthisAgreementshallhavethemeaningsspecifiedhereinorinExhibitA.Interpretation.Wheneverthecontextrequires,anypronounshallincludethecorrespondingmasculine,feminineandneuterforms.Thewords“includeJ“includes"and“including”shallbedeemedtobefollowedbytheplirase“withoutlimitation”Allreferencesto“Party"and"Parties”shallbedeemedreferencestoBungeandSolazyme.ExceptasspecificallyotherwiseprovidedinthisAgreement,areferencetoanArticle.SectionorExhibitisareferencetoanArticle,SectionorExhibitofthisAgreement,andthetenns"hereofJ“herein,"andotherliketermsrefertothisAgreementasawhole,includingtheExhibits.Theterm"of7isusedinitsinclusivesensefand/or").Theterms"Dollars”andshallmeanUnitedStatesDollars.Headings.ThedivisionofthisAgreementintoArticlesandSectionsandtheinsertionofheadingsareforconvenienceofreferenceonlyandshallnotaffecttheconstructionorinterpretationofthisAgreement.RelationshiptoWarrant.ThisAgreementisa"JointVentureAgreement"asdefinedintheWarrantAgreementdatedMay3,2011(asamendedasofthedatehereof)byandbetweenBungeLimitedandSolazyme(the"Warrant).OVERSIGHTOFACTIVITIESUNTILCLOSINGEstablishmentofSteeringCommittee.SolazymeandBungeshallestablishasteeringcommittee(the"SteeringCommittee")tooverseetheconductofthePreliminaryActivities,monitorprogressunderthisAgreement,andfacilitatetheexchangeofinformationrelatingtotheformationoftheCompanyandtheClosing.MembershipofSteeringCommittee.TheSteeringCommitteeshallbecomprisedoftwo(2)representativesfromBungeandtwo(2)representativesfromSolazyme,orsuchotherequalnumberofrepresentativesassuchPartiesmayfromtimetotimeagreeinwriting,witheachParty'srepresentativesselectedbysuchParty.EachPartyshallhaveonevoteontheSteeringCommittee.EitherPartymayreplaceitsrespectiveSteeringCommitteemembersatanytime,uponwrittennoticetotheotherParty.Meetings.TheSteeringCommitteeshallmeetatleastquarterly,ormorefrequentlyasmutuallyagreedbytheParties,atlocationsagreedbytheParties.UponadvancewrittenconsentoftheotherParty,otherrepresentativesofaPartymayattendSteeringCommitteemeetingsasnon-votingobservers.SteeringCommitteemembersandaParty'snon-votingobserversmayparticipateinanysuchmeetinginperson,bytelephone,orbyvideoconference.ThePartiesshallagreeuponwhichPartywillpreparetheminutesofaparticularmeetingatsuchmeeting.TheassignedPartyshallprepareminutesforsuchmeetinginadvanceofthenextSteeringCommitteemeetingandtheSteeringCommitteeshallreview,reviseifnecessary,andapprovesuchminutesatsuchnextSteeringCommitteemeeting.DecisionMaking.DecisionsoftheSteeringCommitteeshallbemadebyapprovalofeachParty'sSteeringCommitteerepresentativespresentatameeting;provided.however,thatatleastone(1)memberfromBungeandatleastone(1)memberfromSolazymemustbepresentatsuchmeetingtoconstituteaquorumatameetingatwhichactionmaybetakenorresolved.IntheeventtheSteeringCommitteeisunabletoresolveanissue,itmaybereferredbyeitherPartytotheseniormostexecutivefortherelevantbusinessunitofeachoftheParties,whoshallmeettodiscussandattempttoresolvethematterwithinthirty(30)daysofthereferral.ProjectManagementTeams.TheSteeringCommitteemaydelegatecertainportionsofitsresponsibilitiestooneormoreprojectmanagementteam(5)(each,aProjectManagementTeam").EachProjectManagementTeamshallbecomprisedofrepresentativesfromeachPartyasrequiredtoadequatelyconductthetasksassignedtoit.EitherPartymayreplaceitsrespectiveProjectManagementTeammembersatanylime,uponwrittennoticetotheotherParty.ACTIVITIESUNTILCLOSINGFormationoftheCompany.BungeoritsAffiliateshallcausetheCompanytobeformedaspromptlyasreasonablypracticalaftertheEffectiveDate.ThePartiesmayalsoagreetoformasecondentitythatwouldowntheCompanyandinwhichthePartieswouldownequityinterestsassetforthinthisAgreement,and.ifthePartiesagreetodoso,theJointVentureOperatingAgreementshallbeappropriatelyadjustedtoreflectthisholdingcompanystructureorsuchotherstructureasthePartiesmaymutuallyagree.TheformofentitytobeestablishedandjurisdictionofincorporationshallbeasagreedbetweenthePartiesbasedonapplicableoperational,legaltax,regulatoryandorganizationalgovernanceconsiderations.Itshallbeestablishedinitiallyasawholly-ownedsubsidiaryofBungeoritsAffiliateandremainassuchuntilClosing.ThenameoftheCompanyshallbeasagreedbythePartiespriortoformationoftheCompany.PreliminaryActivities.ThePartiesshallusecommerciallyreasonableeffortstoconductthepreliminaryactivitiesassetforthonExhibitI(thePreliminaryActivities')ThePartiesshallsharetheThirdPartyout-of-pocketcostsassociatedwiththePreliminaryActivities*;provided,/^wever,thatThirdPartylegalcostsassociatedwiththenegotiationandfinalizationoftheAncillaryDocumentsshallbepaid100%bythePartyincurringsuchcosts.EachPartyshallberesponsibleforallofthecostsandexpensesofitsemployeesinconnectionwiththePreliminaryActivitiesatsuchParty'ssoleexpense,includingincidentalexpensessuchastravel,homeoffice,andbenefits.TheSteeringCommitteeshallprepare,withinthirty(30)daysoftheEffectiveDate,awrittenplancovering,interalia,theactivitiesonExhibitIthatsetsforththeCertaininformationonthispagehasbeenomittedandfiledseparatelywiththeSecuritiesandExchangeCommission.Confidentialtreatmenthasbeenrequestedwithrespecttotheomittedportions.PreliminaryActivitiestobeconductedbyeachPartybetweentheEffectiveDateandtheClosingDate(thePreliminaryWorkPlan").ItisthecurrentexpectationthatSolazymeshallcoordinatetheconductoftheFEEDengineeringandenterintoanynecessaiycontractswithregardtotheFEEDengineering(collectively,the"FEEDEngineeringActivities')ThePreliminaryWorkPlanshallincludeaseparateFEEDEngineeringWorkPlan"thatshallsetforthindetailtheFEEDEngineeringActivitiestobeconducted.Suchplansshallincludethespecifictasks,deliverables,deadlinesandbudgetforeachactivityaswellaswhichPartyshallconducttheapplicableactivity.TheapprovedPreliminaryWorkPlanshallbedeemedareplacementforExhibitI(asitexistsontheEffectiveDate)andincorporatedherein.AfterSteeringCommitteeapproval,thePreliminaryWorkPlanmaybeamendedbymutualagreementofthePartiesortheunanimousvoteoftheSteeringCommittee.SolazymeshallusecommerciallyreasonableeffortstocompleteFEEDEngineeringActivitiesbyDecember31,2011.BungeshallusecommerciallyreasonableeffortstofacilitatethecompletionoftheFEEDEngineeringActivities,includingprovidingSolazymeoritsengineeringcontractorswithreasonableaccesstothesitethatthePartiesselectforthePlantandtoprojectpersonneloftheBungeAffiliateassociatedwithsuchsitetotheextentreasonablyrequiredbySolazymeoritsengineeringcontractorstoperforintheFEEDEngineeringActivitiesinaccordancewiththisschedule.ThePcirtiesshallprovideupto$*milliontofundtheThirdPartyout-of-pocketcostsincurredinconnectionwiththeFEEDEngineeringActivities.Employees;Contractors.NeitherPartywillpermitanemployeeorcontractortoconductworkonorrelatedtotheWorkPlansunlesssuchemployeeorcontractorhas(i)anobligationofconfidentialitytosuchPartynolessstringentthanthosecontainedinthisAgreementand(ii)anobligationtoassigntosuchPartyanyinventionmadebysuchemployeeorcontractorrelatedtotheWorkPlans.NeitherPartywilluseanynon-employeestoperformanyofthePreliminaryActivitieswithouttheadvancewrittenapprovaloftheSteeringCommittee.SBDCApproval.ThePartiesshalldulyandtimelynotifytheSBDCofthetransactionscontemplatedinthisAgreement,forthepurposeofobtainingitsapproval("SBDCApproval").SolazymeandBungeundertaketopromptlyprovideallinformationrequiredbythelocalcompetitionlawinconnectionwiththenotificationreferredtoherein.Thecostsofthisfiling(includingthenotificationfeeduetoSBDC)willbe*.FeesandexpensesforanyattorneyorconsultantsthatBungeorSolazymemayhireindividuallytoaideitinthenotificationormonitoringofthenotificationprocessshallbethesoleresponsibilityofthePartywhoengagessuchattorneyorconsultant.ThePartiesshallusecommerciallyreasonableeffortstocomplywithanydeterminationsofSBDCwithregardtoorarisingfromthenotificationtoSBDCofthetransactionscontemplatedherein.Records.SolazymeandBungeshallmaintaincompleteandaccuraterecordsoftheirrespectiveactivitiesunderthisAgreementorcausesuchrecordstobemaintainedinsufficientdetailandingoodscientificmanneraswillproperlyreflectallworkdoneandresultsachievedintheperformanceoftheWorkPlans(andinaformandindetailsufficienttoestablishdatesofconceptionorreductiontopracticeofanyTechnologydevelopedthereunder).*CertaininformationonthispagehasbeenomittedandfiledseparatelywiththeSecuritiesandExchangeCommission.Confidentialtreatmenthasbeenrequestedwithrespecttotheomittedportions.4Reports.EachofSolazymeandBungeshallpresenttotheotherParty,ateachmeetingoftheSteeringCommittee,awrittenreportdescribing(a)theWorkPlanactivitiesthatithasperformed,orcausedtobeperformed,sincetheprecedingmeeting(or.inthecaseofthefirstmeetingoftheSteeringCommittee,priortosuchmeeting)andonacalendaryear-to-datebasis,evaluatingtheworkperformedinrelationtothegoalsandtimelineoftheWorkPlan,and(b)itsresearchanddevelopmentactivitiesinprocessandthefutureactivitiesitexpectstoinitiateduringthesucceedingtwelve-monthperiod,ascomparedtotheWorkPlan.Inaddition,eachofSolazymeandBungeshallreportpromptlytotheSteeringCommitteethroughitsrespectiveSteeringCommitteerepresentativesanymaterialdevelopmentswithrespecttoactivitiesforwhichitisresponsibleundertheWorkPlan.AccesstoTEM.SolazymewillprovidetothemembersoftheSteeringCommitteeaccesstotheTEMasrequestedfromtimetotime,includingthecalculationmethodsusedthereinforthepurposeofunderstandingthebasisfortheeconomicmodelingperformedtherebyandtheeffectsofinputstheretoonitscalculations.ARTICLE4THECLOSINGTimeandPlaceofClosing.TheexecutionoftheAncillary"Agreementsshalltakeplaceataclosing(the“Closing")thatshalltakeplaceremotelyviatheexchangeofdocumentsandsignaturesontheClosingDate,atsuchplaceasthePartiesshallmutuallyagree.InitialContributions.AttheClosing,BungeandSolazymeherebyagreetomakethefollowingcontributions,paymentsandcommitments(the'InitialContributions")inaccordancewiththetermsofthisAgreement:Inconsiderationofa50.1%initialpercentageinterestintheCompany,SolazymeshallcontributetotheCompanythefollowing:Allrights,titleandinterestofSolazymeintheFEEDEngineeringIPandthePreliminaryActivitiesWorkProduct,includingattheoptionofBunge,assignmentofallcontractsbetweenSolazymeoritsAffiliateandanyThirdPartiesforthecreationthereof;TherightsgrantedtotheCompanybySolazymeanditsAffiliatesundertheLicenseandDevelopmentAgreement;andThecommitmentsmadetotheCompanybySolazymeanditsAffiliate(s)undertheAncillaryAgreements:includingthecapitalcommitmentssetforthintheJointVentureOperatingAgreement5Inconsiderationofa49.9%initialpercentageinterestintheCompany,BungeshallcontributethefollowingtotheCompany:Allrights,titleandinterestofBungeinthePreliminaryActivitiesWorkProduct;TherightsgrantedtotheCompanybyBungeanditsAffiliatesundertheLicenseandDevelopmentAgreement:andThecommitmentsmadetotheCompanybyBungeanditsAffiliate(s)undertheAncillaryAgreements;includingthecapitalcommitmentssetforthintheJointVentureOperatingAgreement.ClosingDeliveriesofBunge.AttheClosing,BungeanditsAffiliatesshalldelivertoSolazymeandtheCompany,dulyexecutedcounterpartsofeachoftheAncillaryAgreementstowhichBungeoroneofitsAffiliatesisaparty.AttheClosing.BungeshalldelivertoeachoftheCompanyandSolazyme,intheformcreatedorstoredbyBungeoritscontractors,acopyofthetangibleembodimentsofthePreliminaryActivitiesWorkProduct.AttheClosing,BungeanditsAffiliatesshalldeliversuchothercustomaryClosingdeliverablesasSolazymemayreasonablyrequest.ClosingDeliveriesofSolazyme.AttheClosing.SolazymeanditsAffiliatesshalldelivertoBungeandtheCompany,dulyexecutedcounterpartsofeachoftheAncillaryAgreementstowhichSolazymeoroneofitsAffiliatesisaparty.AltheClosing.SolazymeshalldelivertoeachoftheCompanyandBunge,intheformcreatedorstoredbySolazymeoritscontractors,acopyofthetangibleembodimentsofthePreliminaryActivitiesWorkProduct,includingtheFEEDEngineeringActivities.AttheClosing.SolazymeanditsAffiliatesshalldeliversuchothercustomaryClosingdeliverablesasBungemayreasonablyrequest.ConditionstoObligationsofBungeatClosing.AllobligationsofBungeanditsAffiliatesattheClosingaresubject,atBunge'soption,tothefiilfillnientpriortoorontheClosingDateofeachofthefollowingconditions:(a)*Allcorporateandotheractionsnecessarytoauthorizetheexecution,deliveryandperformanceoftheAncillaryAgreementsbySolazymeanditsAffiliatesandtheconsummationbySolazymeanditsAffiliatesofthetransactionscontemplatedhereinshallhavebeendulyandvalidlytaken.*CertaininformationonthispagehasbeenomittedandfiledseparatelywiththeSecuritiesandExchangeCommission.Confidentialtreatmenthasbeenrequestedwithrespecttotheomittedportions.6Allcorporateandotheractionsnecessarytoauthorizetheexecution,deliveryandperformanceoftheAncillaryAgreementsbyBungeanditsAffiliatesandtheconsummationbyBungeanditsAffiliatesofthetransactionscontemplatedhereinshallhavebeendulyandvalidlytaken.SolazymeanditsAffiliatesshallhaveexecutedtheAncillaryAgreementstowhichitisaparty.Noinjunction,legalrestraintorotherorderofacourtofcompetentjurisdictionpreventingtheexecutionoftheAncillaryAgreementsortheagreementscontemplatedtherebyortheconsummationofthetransactionscontemplatedherebyortherebyshallbeineffect,norshallanyproceedingbyanyPersonseekinganyoftheforegoingbepending,andthereshallnotbeanyactiontaken,oranystatute,rule,regulationororderenacted,entered,enforcedordeemedapplicabletotheAncillaryAgreementsthatmakestheexecutionoftheAncillaryAgreementsortheagreementscontemplatedtherebyortheconsummationofthetransactionscontemplatedherebyortherebyillegal.ThetransactionscontemplatedinthisAgreementandintheAncillaryAgreementsshallnotbesubjecttoanantitrustorsimilarapprovalorclearancebyanygovernmentalauthoritythathasnotbeenreceivedorcleared.TherepresentationsandwarrantiesofSolazymeanditsAffiliatesinthisAgreementandinanyotherdocumentsexecutedanddeliveredbySolazymeanditsAffiliatesattheClosingshallbetrueandcorrectatandasoftheClosingwiththesameeffectasifmadeatandasoftheClosing.SolazymeanditsAffiliatesshallhaveperformedinallmaterialrespectsallobligationsandagreementsandcompliedinallmaterialrespectswithallcovenantsinthisAgreementandtheJointDevelopmentAgreementtobeperformedandcompliedwithbyitatorbeforetheClosing.4.6ConditionstoObligationsofSolazymeatClosing.AllobligationsofSolazymeanditsAffiliatesattheClosingaresubject,atSolazyme'soption,tothefulfillmentpriortoorontheClosingDateofeachofthefollowingconditions:(a)*Allcorporateandotheractionsnecessarytoauthorizetheexecution,deliveryandperformanceoftheAncillaryAgreementsbyBungeanditsAffiliatesandtheconsummationbyBungeanditsAffiliatesofthetransactionscontemplatedhereinshallhavebeendulyandvalidlytaken.Allcorporateandotheractionsnecessarytoauthorizetheexecution,deliveryandperformanceoftheAncillaryAgreementsbySolazymeanditsAffiliatesandtheconsummationbySolazymeanditsAffiliatesofthetransactionscontemplatedhereinshallhavebeendulyandvalidlytaken.*CertaininformationonthispagehasbeenomittedandfiledseparatelywiththeSecuritiesandExchangeCommission.Confidentialtreatmenthasbeenrequestedwithrespecttotheomittedportions.7BungeanditsAffiliatesshallhaveexecutedtheAncillaryAgreementstowhichitisaparty.Noinjunction,legalrestraintorotherorderofacourtofcompetentjurisdictionpreventingtheexecutionoftheAncillaryAgreementsortheagreementscontemplatedtherebyortheconsummationofthetransactionscontemplatedherebyortherebyshallbeineffect,norshallanyproceedingbyanyPersonseekinganyoftheforegoingbepending,andthereshallnotbeanyactiontaken,oranystatute,rule,regulationororderenacted,entered,enforcedordeemedapplicabletotheAncillaryAgreementsthatmakestheexecutionoftheAncillaryAgreementsortheagreementscontemplatedtherebyortheconsummationofthetransactionscontemplatedherebyortherebyillegal.ThetransactionscontemplatedinthisAgreementandintheAncillaryAgreementsshallnotbesubjecttoanantitrustorsimilarapprovalorclearancebyanygovernmentalauthoritythathasnotbeenreceivedorcleared.TherepresentationsandwarrantiesofBungeanditsAffiliatesinthisAgreementandinanyotherdocumentsexecutedanddeliveredbyBungeanditsAffiliatesattheClosingshallbetrueandcorrectatandasoftheClosingwiththesameeffectasifmadeatandasoftheClosing.BungeanditsAffiliatesshallhaveperformedinallmaterialrespectsallobligationsandagreementsandcompliedinallmaterialrespectswithallcovenantsinthisAgreementandtheJointDevelopmentAgreementtobeperformedandcompliedwithbyitatorbeforetheClosing.MATERIALTRANSFERMaterials;LimitedUse.TransferofMaterials.InthecourseoftheWorkPlans,aParty(the^TransferringParty")maytransfertotheotherParty(the“Recipient"),chemicalorbiologicalmaterial(eg,microbes,productsofmicrobeconversion,biomass,etc.).TheprovisionsofthisAgreement,includingArticles6and8,shallapplytosuchmaterials,aswellastoanyimprovementsormodificationsthereof(originalmaterials,progenyandmcxlifiedmaterialsarecollectivelyreferredtoas^TransferredMaterials").LimitedRights.TheRecipientagreesnotto(i)usetheTransferredMaterialsreceivedfromtheTransferringPartyforanypurposeotherthantoconducttheWorkPlans,or(ii)attempttodeterminethesequenceofmodify,orotherwisereverse-engineerorreproduceanyoftheTransferredMaterials.8Results.TheRecipientwillpromptlydisclosetotheTransferringPartyanydatagenerated,summaries,andconclusionsgeneratedinconnectionwithanyuse.testingandevaluationoftheTransferredMaterials("Results")asrequiredbytheWorkPlans.TheResults,andrelatedreports,shallbedeemedtobeConfidentialInformationofbothPartiesforwhicheachPartyisareceivingPartysubjecttothetermsofArticle8.Transfer.TheRecipientmaydistributeportionsoftheTransferredMaterialstoanyAffiliate,butmaynotdistributeanyoftheTransferredMaterialstoanyThirdParlywithoutthewrittenconsentoftheTransferringParty;provided,however,thataRecipientshallrequireanyAffiliateorThirdPartytowhichitdistributesanyportionoftheTransferredMaterialstoundertakewrittenobligationsatleastasstringentasthosesetforthinthisArticle5.NatureofTransferredMaterials.TheRecipientacknowledgesthattheTransferredMaterialsareexperimentalinnatureandmayhaveunknowncharacteristicsandthereforeagreestouseprudenceandreasonablecareintheuse,handling,storage,transportationanddispositionandcontainmentoftheTransferredMaterials.TheTransferringPartyshallinformtheRecipientofanyhandlinghazardsofwhichtheTransferringPartyisawareregardingtheTransferredMaterials.Further,a