Exhibit 4.24


 





THIS WARRANT AND THE
SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT’),
OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR
OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID SECURITIES ACT AND APPLICABLE STATE SECURITIES
LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE
OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION.


 


WARRANT TO PURCHASE STOCK


 


	Company:	 	Amyris, Inc., a Delaware corporation
	Number of Shares:	 	14,677,861
	Class of Stock:	 	Common
Stock
	Warrant Price:	 	$0.01 per
share
	Issue Date:	 	July 29, 2015
	Expiration Date:	 	The 10th
anniversary after the Issue Date
	Exchange Agreement:	 	This
Warrant is issued in connection with the Exchange Agreement between Company, Maxwell (Mauritius) Pte Ltd and Total Energies Nouvelles
Activités USA dated as of July 26, 2015, as amended from time to time (the “Exchange Agreement”).



 


THIS WARRANT CERTIFIES
THAT, for good and valuable consideration, Maxwell (Mauritius) Pte Ltd (together
with any registered holder from time to time of this Warrant or any holder of the shares issuable or issued upon exercise of this
Warrant “Holder”) is entitled to purchase the number of fully paid and nonassessable shares of the class of securities
(the “Shares”) of the Company at the Warrant Price, all as set forth above and as adjusted pursuant to Article 2 of
this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. Capitalized terms used but
not otherwise defined herein shall have the meaning ascribed to them in the Exchange Agreement.


 


ARTICLE
1.   EXERCISE.


 


1.1.           
Conditions to Exercise. Holder may not exercise this Warrant unless and until this Warrant has been approved
by a majority of the Company’s stockholders whose vote was counted at the Stockholders Meeting (the “Exercise Condition”).
Upon satisfaction of the Exercise Condition and thereafter, this Warrant shall be exercisable for up to 14,677,861 shares of Common
Stock (subject to adjustment as provided herein) (the “Shares”). The number of shares and the Warrant Price are subject
to adjustment as provided herein, and all references to “Shares” and “Warrant Price” herein shall be deemed
to include any such adjustment or series of adjustments.


 


1.2.           
Method of Exercise. Holder may exercise this Warrant by delivering a duly completed and executed Notice of
Exercise in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the
cashless exercise right set




 






    	1



    	 



    

forth in Article 1.3, Holder shall also deliver
to the Company a check, wire transfer (to an account designated by the Company), or other form of payment acceptable to the Company
for the aggregate Warrant Price for the Shares being purchased.


 


1.3.           
Cashless Exercise Right. In lieu of exercising this Warrant as specified in Article 1.2, Holder may from time
to time, following satisfaction of the Exercise Condition, in its sole discretion, exercise this Warrant in whole or in part and,
in lieu of making the cash payment otherwise contemplated to be made to the Company upon such exercise in payment of the aggregate
Warrant Price pursuant to Article 1.2, elect instead to receive upon such exercise the “Net Number” of shares of Common
Stock determined according to the following formula (a “Cashless Exercise”):


 


Net Number = (A x
B) - (A x C)


B


 


For purposes of the foregoing formula:


 


A= the total number of shares with respect
to which this Warrant is then being exercised.


 


B= the fair market value of each Share shall
be the average for the five Trading Days immediately prior to the date of determination thereof of the last reported sale price
regular way on each such day, or, in the case no such sale takes place on any such day, the average of the reported closing bid
and asked prices regular way of the shares of Common Stock on such day, in each case as quoted on The NASDAQ Stock Market, as reported
by Bloomberg or such other principal securities exchange or inter-dealer quotation system on which the shares of Common Stock are
then traded.


 


C= the Warrant Price then in effect for
the applicable Shares at the time of such exercise.


 


1.4.           
Delivery of Certificate and New Warrant. Promptly after Holder exercises or converts this Warrant, and, if
applicable, the Company receives payment of the aggregate Warrant Price, the Company shall deliver to Holder certificates for the
Shares acquired and, if this Warrant has not been fully exercised or converted and has not expired, a new Warrant representing
the Shares not so acquired. Holder shall be deemed to own and have all of the rights associated with any Shares or other securities
or property to which it is entitled pursuant to this Warrant upon the exercise or conversion of the Warrant in accordance with
this Article 1.


 


1.5.           
Replacement of Warrants. On receipt of evidence reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this Warrant and in the case of loss, theft or destruction, on delivery of an indemnity agreement
reasonably satisfactory in form and amount to the Company or, in the case of mutilation on surrender and cancellation of this Warrant,
the Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor.


 


1.6.           
Treatment of Warrant Upon Acquisition of Company.


 


1.6.1                   
“Acquisition”. For the purpose of this Warrant, “Acquisition” shall mean the occurrence
of any of the following: (i) the consolidation of the Company with, or




 






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the merger of the Company with or into,
another “person” (as such term is used in Rule 13d-3 and Rule 13d-5 of the Exchange Act), or the sale, lease, transfer,
conveyance or other disposition, in one or a series of related transactions, of all or substantially all of the assets of the Company
and its Subsidiaries taken as a whole, or the consolidation of another “person” with, or the merger of another “person”
into, the Company, other than in each case pursuant to a transaction in which the “persons” that “beneficially
owned” (as such term is defined in Rule 13d-3 and Rule 13d-5 under the Exchange Act), directly or indirectly, the Voting
Shares (as defined below) of the Company immediately prior to the transaction “beneficially own”, directly or indirectly,
Voting Shares representing at least a majority of the total voting power of all outstanding classes of voting stock of the surviving
or transferee person; (ii) the adoption by the Company of a plan relating to the liquidation or dissolution of the Company;
(iii) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which
is that any “person” becomes the “beneficial owner” directly or indirectly, of more than 50% of the Voting
Shares of the Company (measured by voting power rather than number of shares); or (iv) the first day on which a majority of
the members of the Company’s Board of Directors (the “Board”) does not consist of Continuing Directors (as defined
below). For the purposes of this Article 1.7.1, (i) “Voting Shares” of any person shall mean capital shares or capital
stock of such person which ordinarily has voting power for the election of directors (or persons performing similar functions)
of such person, whether at all times or only so long as no senior class of securities has such voting power by reason of any contingency,
and (ii) “Continuing Director” shall mean, as of any date of determination, any member of the Board who (i) was a member
of the Board on the Issue Date or (ii) was nominated for election or elected to the Board with the approval of a majority of the
Continuing Directors who were members of the Board at the time of such nomination or election and who voted with respect to such
nomination or election; provided that a majority of the members of the Board voting with respect thereto shall at the time have
been Continuing Directors.


 


1.6.2                   
Treatment of Warrant at Acquisition. In the event of an Acquisition, either (a) Holder shall exercise or convert
his Warrant in full with respect to all remaining Shares for which the Warrant is then exercisable and such exercise or conversion
will be deemed effective immediately prior to the consummation of such Acquisition or (b) if Holder elects not to exercise or convert
the Warrant, this Warrant will expire upon the consummation of such Acquisition. The Company shall provide Holder with written
notice of the foregoing (together with such reasonable information as Holder may request in connection with such contemplated Acquisition
giving rise to such notice), which is to be delivered to Holder not less than ten (10) days prior to the closing of the proposed
Acquisition.


 


1.7.           
Insufficient Authorized Shares. If at any time while the Warrant remains outstanding the Company does not
have a sufficient number of authorized and unreserved shares of Common Stock to satisfy its obligation to reserve for issuance
upon exercise of the Warrant at least a number of shares of Common Stock equal to 100% (the “Required Reserve Amount”)
of the number of shares of Common Stock as shall from time to time be necessary to effect the exercise of the Warrant then outstanding,
then the Company shall immediately take all action necessary to increase the Company’s authorized shares of Common Stock
to an amount sufficient to allow the Company to reserve the Required Reserve Amount for the Warrant then outstanding.




 






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ARTICLE
2.   ADJUSTMENTS TO THE SHARES.


 


2.1.           
Stock Dividends, Splits, Etc. If the Company declares or pays a dividend on the Shares payable in common stock
of the Company, or other securities, then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without
cost to Holder, the total number and kind of shares of common stock of the Company to which Holder would have been entitled had
Holder owned the Shares of record as of the date the dividend occurred. If the Company subdivides the Shares by reclassification
or otherwise into a greater number of shares or takes any other action which increases the amount of stock for which this Warrant
is exercisable, the number of Shares subject to the Warrant shall be proportionately increased and the Warrant Price shall be proportionately
decreased. If the outstanding shares are combined or consolidated, by reclassification or otherwise, into a lesser number of shares,
the Warrant Price shall be proportionately increased and the number of Shares subject to the Warrant shall be proportionately decreased.


 


2.2.           
Reclassification, Exchange, Combinations or Substitution. Upon any reclassification, exchange, substitution,
or other event that results in a change of the number and/or class of the securities issuable upon exercise or conversion of this
Warrant (other than an Acquisition which is subject to the provisions of Article 1.6), Holder shall be entitled to receive, upon
exercise or conversion of this Warrant the number and kind of securities and property that Holder would have received for the Shares
if this Warrant had been exercised immediately before such reclassification, exchange, substitution, or other event. The Company
or its successor shall promptly issue to Holder an amendment to this Warrant setting forth the number and kind of such new securities
or other property issuable upon exercise or conversion of this Warrant as a result of such reclassification, exchange, substitution
or other event that results in a change of the number and/or class of securities issuable upon exercise or conversion of this Warrant.
The amendment to this Warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments
provided for in this Article 2 including, without limitation, adjustments to the Warrant Price and to the number of securities
or property issuable upon exercise of the new Warrant. The provisions of this Article 2.2 shall similarly apply to successive reclassifications,
exchanges, substitutions, or other events.


 


2.3.           
Rights Upon Distribution of Assets. If the Company shall declare or make any dividend or other distribution
of its assets (or rights to acquire its assets) to holders of shares of Common Stock (which dividend or other distribution has
not already been given to the Holder of the Warrant), by way of return of capital or otherwise (including, without limitation,
any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate
rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after the issuance
of this Warrant and prior to the Expiration Date, then, in each such case:


 


(a)any Warrant Price in effect immediately
prior to the close of business on the record date fixed for the determination of holders of shares of Common Stock entitled to
receive the Distribution shall be reduced, effective as of the close of business on such record date, to a price determined by
multiplying such Warrant Price by a fraction of which (i) the numerator shall be the Closing Bid Price of the shares of Common
Stock on the Trading Day immediately preceding such record date minus the value of the Distribution (as determined in




 






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good faith by the Company’s Board of
Directors) applicable to one share of Common Stock, and (ii) the denominator shall be the Closing Bid Price of the shares of Common
Stock on the Trading Day immediately preceding such record date; and


 


(b)the number of
Shares shall be increased to a number of shares equal to the number of shares of Common Stock obtainable immediately prior to the
close of business on the record date fixed for the determination of holders of shares of Common Stock entitled to receive the Distribution
multiplied by the reciprocal of the fraction set forth in the immediately preceding paragraph (a);


 


provided that in the event that the Distribution
is of shares of Common Stock (“Other Shares of Common Stock”) of a company whose common shares are traded on a national
securities exchange or a national automated quotation system, then the Holder may elect to receive a warrant to purchase Other
Shares of Common Stock in lieu of an increase in the number of Shares, the terms of which shall be identical to those of this Warrant,
except that such warrant shall be exercisable into the number of shares of Other Shares of Common Stock that would have been payable
to the Holder pursuant to the Distribution had the Holder exercised this Warrant immediately prior to such record date and with
an aggregate warrant price equal to the product of the amount by which the warrant price of this Warrant was decreased with respect
to the Distribution pursuant to the terms of the immediately preceding paragraph (a) and the number of Shares calculated in accordance
with the first part of this paragraph (b).


 


2.4.           
Other Adjustment Events. If any event occurs of the type contemplated by the provisions of this Article 2
but not expressly provided for by such provisions, then the Company’s Board of Directors will make an appropriate adjustment
in the Warrant Price and the number of Warrant Shares so as to protect the rights of the Holder; provided that no such adjustment
pursuant to this Article 2.4 will increase the Warrant Price or decrease the number of Shares as otherwise determined pursuant
to this Article 2.


 


2.5.           
No Impairment. Without the consent of the Holder, the Company shall not by amendment of its Certificate of
Incorporation or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed
under this Warrant by the Company, but shall at all times in good faith assist in carrying out of all the provisions of this Article
2 and in taking all such action as may be necessary or appropriate to protect Holder’s rights under this Article against
impairment.


 


2.6.           
Fractional Shares. No fractional Shares shall be issuable upon exercise or conversion of this Warrant and
the number of Shares to be issued shall be rounded down to the nearest whole Share. If a fractional share interest arises upon
any exercise or conversion of the Warrant, the Company shall eliminate such fractional share interest by paying Holder in cash
equivalent to the amount computed by multiplying the fractional interest by the fair market value of a full Share.


 


2.7.           
Certificate as to Adjustments. Upon each adjustment of the Warrant Price and Shares, the Company shall promptly
notify Holder in writing, and, at the Company’s expense, promptly compute such adjustment, and furnish Holder with a certificate
of its Chief Financial




 






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Officer, Corporate Secretary
or a senior financial officer setting forth such adjustment and the facts upon which such adjustment is based. The Company shall,
upon written request, furnish Holder a certificate setting forth the Warrant Price and Shares in effect upon the date thereof and
the series of adjustments leading to such Warrant Price and Shares.


 


ARTICLE
3.   REPRESENTATIONS AND COVENANTS OF THE COMPANY.
The Company represents and warrants to the Holder as follows:


 


3.1.           
Representations and Warranties. The Company represents and warrants and covenants to the Holder as follows:
all Shares which may be issued upon the exercise of the purchase right represented by this Warrant, and all securities, if any,
issuable upon conversion of the Shares, shall, upon issuance, be duly authorized, validly issued, fully paid and nonassessable,
and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and
state securities laws. The Company will at all times reserve and keep available, out of its authorized but unissued share of Common
Stock, solely for the purpose of providing the exercise or conversion of this Warrant, the aggregate number of Shares issuable
upon exercise or conversion of this Warrant. The Company will use its reasonable best efforts to ensure that the Shares may be
issued without violation of any law or regulation applicable to the Company or of any requirement of any securities exchange applicable
to the Company on which the Shares are listed or traded.


 


3.2.           
No Stockholder Rights. Except as provided in this Warrant, and other than with regard to shares of the Company’s
common stock acquired by Holder other than pursuant to the exercise of this Warrant, the Holder will not have any rights as a stockholder
of the Company until the exercise of this Warrant.


 


3.3.           
Charges, Taxes and Expenses. Issuance of certificates for Shares to the Holder upon the exercise or conversion
of this Warrant shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect
of the issuance of such certificates, all of which taxes and expenses shall be paid by the Company.


 


ARTICLE
4.   REPRESENTATIONS, WARRANTIES OF THE HOLDER.
The Holder represents and warrants to the Company as follows:


 


4.1.           
Purchase for Own Account. This Warrant and the securities to be acquired upon exercise or conversion of this
Warrant by the Holder will be acquired for investment for the Holders account, not as a nominee or agent, and not with a view to
the public resale or distribution within the meaning of the Securities Act of 1933 (the “Securities Act”) and the Holder
has no present intention, and upon exercise or conversion will have no intention, of selling or engaging in any public distribution
of the same except pursuant to a registration or exemption. Holder also represents that the Holder has not been formed for the
specific purpose of acquiring this Warrant or the Shares.


 


4.2.           
Disclosure of Information. The Holder has received or has had full access to all the information it considers
necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying
securities. The Holder further has had an opportunity to ask questions and receive answers from the Company regarding the




 






    	6



    	 



    

terms and conditions of the offering of this
Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information
or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to the Holder or to which
the Holder has access.


 


4.3.           
Investment Experience. The Holder understands that the purchase of this Warrant and its underlying securities
involves substantial risk. The Holder has experience as an investor in securities of companies in the development stage and acknowledges
that the Holder can bear the economic risk of such Holder’s investment in this Warrant and its underlying securities and
has such knowledge and experience in financial or business matters that the Holder is capable of evaluating the merits and risks
of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business relationship with
the Company and certain of its officers, directors or controlling persons of a nature and duration that enables the Holder to be
aware of the character, business acumen and financial circumstances of such persons.


 


4.4.           
Accredited Investor Status. The Holder is an “accredited investor” within the meaning of Regulation
D promulgated under the Securities Act.


 


4.5.           
The Securities Act. The Holder understands that this Warrant and the Shares issuable upon exercise or conversion
hereof have not been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends
upon, among other things, the bona fide nature of the Holder’s investment intent as expressed herein. The Holder understands
that this Warrant and the Shares issued upon any exercise or conversion hereof must be held indefinitely unless subsequently registered
under the Securities Act and qualified under applicable state securities laws, or unless exemption from such registration and qualification
are otherwise available. The Holder further understands that settlement of this Warrant is to be made in Shares and, for the elimination
of doubt, the fact that the Shares delivered on exercise of this Warrant will not be registered under the Securities Act (as defined
below) will not in any way require the Company to settle this Warrant otherwise than in Shares, including without limitation, that
there is no circumstance that would require the Company to settle this Warrant in cash.


 


ARTICLE
5.   MISCELLANEOUS.


 


5.1.           
Term. Following the satisfaction of the Exercise Condition described in Article 1.1, this Warrant will be
exercisable in whole or in part at any time and from time to time on or before the Expiration Date.


 


5.2.           
Legends. This Warrant and the Shares (and the securities issuable, directly or indirectly, upon conversion
of the Shares, if any) shall be imprinted with a legend in substantially the following form:


 


THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT’), OR THE SECURITIES LAWS
OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE




 






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TRANSFERRED, PLEDGED OR HYPOTHECATED
UNLESS AND UNTIL REGISTERED UNDER SAID SECURITIES ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN
FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT
FROM REGISTRATION.


 


5.3.           
Compliance with Securities Laws on Transfer. This Warrant and the Shares issuable upon exercise of this Warrant
(and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned
in whole or in part without compliance with applicable federal and state securities laws by the transferor and the transferee (including,
without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company,
as reasonably requested by the Company). The Company shall not require Holder to provide an opinion of counsel if the transfer
is to any affiliate of the Holder, provided that any such transferee is an “accredited investor” as defined in Regulation
D under the Securities Act; provided, however, in any such transfer the transferee shall agree to be bound by the terms of this
Warrant as if an original holder hereof.


 


5.4.           
Notices. All notices and other communications from the Company to the Holder, or vice versa, shall be deemed
delivered and effective when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address
as may have been furnished to the Company or the Holder, as the case may be (or on the first business day after transmission by
facsimile), in writing by the Company or such Holder from time to time. Effective upon receipt of the fully executed Warrant, all
notices to the Holder shall be addressed as follows until the Company receives notice of a change of address in connection with
a transfer or otherwise:


 


Maxwell (Mauritius)
Pte Ltd

60 B Orchard Road #06-18


Tower 2, The Atrium @ Orchard


Singapore 238891






 


Notice to the Company shall be addressed
as follows until the Holder receives notice of a change in address:


 


Amyris, Inc.

5885 Hollis Street, Suite 100


Emeryville, CA 94608


Attn: General Counsel


 


 


With a copy (which shall not constitute notice) to:


 


Fenwick & West LLP


801 California Street


Mountain View, CA 94041


Attn: Dan Winnike, Esq.




 


 


 






    	8



    	 



    

5.5.           
Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument
in writing signed by the parties against which enforcement of such change, waiver, discharge or termination is sought.


 


5.6.           
Automatic Conversion upon Expiration. In the event that, upon the Expiration Date, the fair market value of
one Share as determined in accordance with Article 1.4 above is greater than the Warrant Price in effect on such date and the Exercise
Condition has occurred prior to such date, then this Warrant shall automatically be deemed on and as of such date to be converted
pursuant to Article 1.3 above as to all Shares (or such other securities) for which it shall not previously have been exercised
or converted, and the Company shall promptly deliver a certificate representing the Shares (or such other securities) issued upon
such conversion to the Holder.


 


5.7.           
Counterparts. This Warrant may be executed in counterparts, all of which together shall constitute one and
the same agreement.


 


5.8.           
Amendment. This Warrant may be amended and the observance of any term of this Warrant may be waived only with
the written consent of the Company and the Holder.


 


5.9.           
Binding Effect. This Warrant shall be binding upon any successors or assigns of the Company.


 


5.10.       
Governing Law. This Warrant, and the provisions, rights, obligations, and conditions set forth herein, and
the legal relations between the parties hereto, including all disputes and claims, whether arising in contract, tort, or under
statute, shall be governed by and construed in accordance with the laws of the State of Delaware without giving effect to its conflict
of law provisions.


 


5.11.       
Dispute Resolution.This Warrant shall be subject to the dispute resolution provisions of the Exchange
Agreement, as such provisions are outlined in Section 9.6 thereof.


 


ARTICLE
6.   CERTAIN DEFINITIONS.


 


“Bloomberg” means Bloomberg
Financial Markets.


 


“Closing Bid Price” and “Closing
Sale Price” means, for any security as of any date, the last closing bid price and last closing trade price, respectively,
for such security on the Principal Market, as reported by Bloomberg, or, if the Principal Market begins to operate on an extended
hours basis and does not designate the closing bid price or the closing trade price, as the case may be, then the last bid price
or last trade price, respectively, of such security prior to 4:00 p.m., New York time, as reported by Bloomberg, or, if the Principal
Market is not the principal securities exchange or trading market for such security, the last closing bid price or last trade price,
respectively, of such security on the principal securities exchange or trading market where such security is listed or traded as
reported by Bloomberg, or if the foregoing do not apply, the last closing bid price or last trade price, respectively, of such
security in the over-the-counter




 






    	9



    	 



    

market on the electronic bulletin board for
such security as reported by Bloomberg, or, if no closing bid price or last trade price, respectively, is reported for such security
by Bloomberg, the average of the bid prices, or the ask prices, respectively, of any market makers for such security as reported
in the “pink sheets” by Pink Sheets LLC (formerly the National Quotation Bureau, Inc.). If the Closing Bid Price or
the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Bid
Price or the Closing Sale Price, as the case may be, of such security on such date shall be the fair market value as mutually determined
by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then
such dispute shall be resolved pursuant to Section 5.11. All such determinations to be appropriately adjusted for any stock dividend,
stock split, stock combination or other similar transaction during the applicable calculation period.


 


“Principal Market”
means The NASDAQ Global Select Market.


 


“Trading Day” means any day
on which the Common Stock is traded on the Principal Market, or, if the Principal Market is not the principal trading market for
the Common Stock, then on the principal securities exchange or securities market on which the Common Stock is then traded; provided
that “Trading Day” shall not include any day on which the Common Stock is scheduled to trade on such exchange or market
for less than 4.5 hours or any day that the Common Stock is suspended from trading during the final hour of trading on such exchange
or market (or if such exchange or market does not designate in advance the closing time of trading on such exchange or market,
then during the hour ending at 4:00 p.m., New York time).


 


 


 


[Balance of Page Intentionally Left
Blank]


 


 


 



    	10



    	 



    

	 	“COMPANY”
	 	 	 
	 	Amyris, Inc.
	 	 	 
	 	By: 	/s/ John Melo
	 	 	John Melo, Chief Executive Officer
	 	 	 
	 	 	 
	AGREED AND ACKNOWLEDGED:	 	 
	“HOLDER” 	 	 
	 	 	 
	Maxwell (Mauritius)
        Pte Ltd 	 	 
	 	 	 
	 	 	 
	(Signature)	 	 
	 	 	 
	(Print Name)	 	 
	 	 	 
	(Title)	 	 



 


 


 


 


 


 


 


 


 


 


[Signature
Page to Warrant]






    	 



    	 



    
	 	“COMPANY”
	 	 	 
	 	Amyris, Inc.
	 	 	 
	 	By: 	 
	 	 	John Melo, Chief Executive Officer
	 	 	 
	 	 	 
	AGREED AND ACKNOWLEDGED:	 	 
	“HOLDER” 	 	 
	 	 	 
	Maxwell (Mauritius)
        Pte Ltd 	 	 
	 	 	 
	/s/ Poy Weng Chuen	 	 
	(Signature)	 	 
	Poy Weng Chuen	 	 
	(Print Name)	 	 
	Director	 	 
	(Title)	 	 




 


 


 


 


 


 


 


 


 


 


[Signature
Page to Warrant]






    	 



    	 



    




APPENDIX 1


 


NOTICE OF EXERCISE


 


1.Holder elects
to purchase ____________ shares of the Common Stock of AMYRIS, INC. pursuant to the terms of the attached Warrant, and tenders
payment of the purchase price of the shares in full.


 


[or]


 


1.Holder elects
to convert the attached Warrant into Shares/cash [strike one] in the manner specified
in the Warrant. This conversion is exercised for ____________________ of the Shares covered by the Warrant.


 


[Strike
paragraph that does not apply.]


 


2.Please issue
a certificate or certificates representing the shares in the name specified below:


 


	 	 	 
	 	Holders Name	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	(Address)	 



 


3.By its execution
below and for the benefit of the Company, Holder hereby restates each of the representations and warranties in Article 4 of the
Warrant as the date hereof.


 


	 	HOLDER:
	 	 	 
	 	 	 
	 	By: 	 
	 	 	 
	 	Name: 	 
	 	 	 
	 	Title:	 
	 	 	 
	 	(Date):