EX-10.(E) 7 exh10pe.txt EXHIBIT 10(e) August 4, 2003 Terrell K. Crews Executive Vice President and Chief Financial Officer Monsanto Company 800 North Lindbergh Blvd. St. Louis, MO 63167 Re: Second Amendment to Pennsylvania Litigation Protocol Dear Terry: Monsanto Company, Pharmacia Corporation and Solutia Inc. entered into an Amendment to Protocol Agreement dated March 2, 2003, ("the First Amendment") a copy of which is annexed hereto. This letter agreement is an amendment to the First Amendment, and will be referred to as "the Second Amendment." Pursuant to Section 4 of the First Amendment Solutia provided Monsanto with an additional Letter of Credit in the amount of $39.9 million. Section 3 of the First Amendment provided Solutia with the Solutia Settlement Control Rights during the Extension Period, upon its timely providing the Additional Letter of Credit to Monsanto. Pursuant to this Second Amendment, we have agreed that Monsanto will immediately release the Additional Letter of Credit to Solutia. We have further agreed that the Solutia Settlement Control Rights shall be suspended, and the Monsanto Settlement Control Rights shall be reinstated, immediately upon release of the Additional Letter of Credit to Solutia, including Monsanto's rights to access any applicable insurance policies related to a resolution of the underlying matter. Sincerely, /s/ Jeffry N. Quinn Jeffry N. Quinn [SIGNATURE PAGE IS NEXT PAGE] Page 2 of 2 IN WITNESS WHEREOF, the parties have caused this Second Amendment to Protocol Agreement to be duly executed as of the date above first written. MONSANTO COMPANY a Delaware Corporation By: /s/ Robert A. Paley ------------------------- Name: Robert A. Paley Title: V.P. and Treasurer SOLUTIA INC. a Delaware Corporation By: /s/ Jeffry N. Quinn ------------------------- Name: Jeffry N. Quinn Title: Sr. V.P. PHARMACIA CORPORATION a Delaware Corporation By: ------------------------- Name: Title: