Exhibit 10.4

VERENIUM CORPORATION

STOCK OPTION GRANT NOTICE

2007 EQUITY INCENTIVE PLAN

Verenium Corporation (the “Company”), pursuant to its 2007 Equity Incentive Plan
(the “Plan”), hereby grants to Optionholder an Option to purchase the number of
shares of the Company’s Common Stock set forth below. This Option is subject to
all of the terms and conditions as set forth herein and in the Option Agreement,
the Plan, and the Notice of Exercise, all of which are attached hereto and
incorporated herein in their entirety.

 

  Optionholder:     

 

    Date of Grant:     

 

    Vesting Commencement Date:     

 

    Number of Shares Subject to Option:     

 

    Exercise Price (Per Share):     

 

    Total Exercise Price:     

 

    Expiration Date:     

 

 

 

Type of Grant:      ¨   Incentive Stock Option1    ¨  Nonstatutory Stock Option

 

Exercise Schedule:    Same as Vesting Schedule

 

Vesting Schedule:    [1/4th of the shares vest one year after the Vesting
Commencement Date; the balance of the shares vest in a series of twelve
(12) successive equal quarterly installments measured from the first anniversary
of the Vesting Commencement Date.]

 

Payment:    By one or a combination of the following items (described in the
Option Agreement):    x  By cash, check, bank draft or money order payable to
the Company    x  Pursuant to a Regulation T Program if the Shares are publicly
traded    x  By delivery of already-owned shares if the Shares are publicly
traded    x  Net exercise if the Company has established procedures for net
exercise at the time of such exercise

Additional Terms/Acknowledgements: The undersigned Optionholder acknowledges
receipt of, and understands and agrees to, this Option Grant Notice, the Option
Agreement, and the Plan.

Optionholder further acknowledges that as of the Date of Grant, this Stock
Option Grant Notice, the Option Agreement, and the Plan set forth the entire
understanding between Optionholder and the Company regarding the acquisition of
stock in the Company and supersede all prior oral and written agreements on that
subject with the exception of (i) options previously granted and delivered to
Optionholder under the Plan, and (ii) the following agreements only:

 

OTHER AGREEMENTS:

   

 

   

 

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1

If this is an Incentive Stock Option, it (plus other outstanding Incentive Stock
Options) cannot be first exercisable for more than $100,000 in value (measured
by exercise price) in any calendar year. Any excess over $100,000 is a
Nonstatutory Stock Option.

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VERENIUM CORPORATION     OPTIONHOLDER: By:  

 

    By:  

 

 

Signature

      Signature Title:  

 

    Date:  

 

Date:

 

 

     

ATTACHMENTS: Option Agreement, 2007 Equity Incentive Plan and Notice of Exercise

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ATTACHMENT I

OPTION AGREEMENT

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ATTACHMENT II

2007 EQUITY INCENTIVE PLAN

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ATTACHMENT III

NOTICE OF EXERCISE

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NOTICE OF EXERCISE

 

VERENIUM CORPORATION       4955 DIRECTORS PLACE       SAN DIEGO, CA 92121      

Date of Exercise:                             

Ladies and Gentlemen:

This constitutes notice under my stock option that I elect to purchase the
number of shares for the price set forth below.

 

Type of option (check one):    Incentive  ¨            Nonstatutory  ¨      
Stock option dated:                                                Number of
shares as to which option is exercised:                                         
      Certificates to be issued in name of:   
                                            Total exercise price:   
$                                         

Cash or check payment delivered herewith:

   $                                         

Regulation T Program (cashless exercise)

   $                                         

Value of                      shares of the Company’s common stock delivered
herewith1:

   $                                         

Value of                      shares of the Company’s common stock pursuant to
net exercise2:

   $                                         

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1

Shares must meet the public trading requirements set forth in the option
agreement. Shares must be valued in accordance with the terms of the option
being exercised, must have been owned for the minimum period required in the
option, and must be owned free and clear of any liens, claims, encumbrances or
security interests. Certificates must be endorsed or accompanied by an executed
assignment separate from certificate.

2

The Company must have established procedures for net exercise at the time of
exercise in order to utilize this payment method.

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By this exercise, I agree (i) to provide such additional documents as you may
require pursuant to the terms of the Verenium Corporation 2007 Equity Incentive
Plan, (ii) to provide for the payment by me to you (in the manner designated by
you) of your withholding obligation, if any, relating to the exercise of this
option, and (iii) if this exercise relates to an incentive stock option, to
notify you in writing within fifteen (15) days after the date of any disposition
of any of the shares of Common Stock issued upon exercise of this option that
occurs within two (2) years after the date of grant of this option or within one
(1) year after such shares of Common Stock are issued upon exercise of this
option.

 

SUBMITTED BY:

    ACCEPTED BY:     VERENIUM CORPORATION

 

    By:  

 

Printed Name

      Signature     Title:  

 

 

     

Signature

    Date: