Document:

First Amendment to Loan and Security Agreement

 EXHIBIT 10.2 
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT 
 THIS FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is dated as of November 9, 2007 (the “Amendment Date”), by and among CODEXIS, INC., a Delaware
corporation (“Borrower”), WASABI ACQUISITION LLC, a Delaware limited liability company (“Wasabi”), GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation acting in its capacity as agent (the
“Agent”) for the lenders under the Credit Agreement (as defined below) (the “Lenders”), and the Lenders. 
 W I T N E S S E T H: 
 WHEREAS, Borrower, the Lenders and Agent are parties to that certain Loan and Security
Agreement, dated as of September 28, 2007 (as the same may be amended, supplemented and modified from time to time, the “Credit Agreement”; capitalized terms used herein have the meanings given to them in the Credit Agreement
except as otherwise expressly defined herein), pursuant to which Lenders have agreed to provide to Borrower certain loans and other extensions of credit in accordance with the terms and conditions thereof; 
 WHEREAS, Borrower has requested that Agent and Lenders amend certain provisions of the Credit Agreement, in each case in accordance with and
subject to the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the premises, the covenants and
agreements contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Borrower, the Lenders and Agent hereby agree as follows: 
 1. Acknowledgment of Obligations. Borrower hereby acknowledges, confirms and agrees that as of the close of business on the Amendment Date,
Borrower is indebted to the Lenders in respect of the Term Loans in the aggregate principal amount of $15,000,000. All such Term Loans, together with interest accrued and accruing thereon, and fees, costs, expenses and other charges owing by
Borrower to Agent and Lenders under the Credit Agreement and the other Debt Documents, are unconditionally owing by Borrower to Agent and Lenders, without offset, defense or counterclaim of any kind, nature or description whatsoever except as may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditor’s rights generally. 
 2. Amendments to Credit Agreement. Subject to the terms and conditions of this Amendment (including, without limitation, the conditions to effectiveness set forth in Section 6 below), and
effective as of the Effective Date (as such term is defined in Section 6 below), the Credit Agreement is hereby amended as follows: 
 (a) The penultimate paragraph in Section 3.1 of the Credit Agreement is hereby amended by (1) deleting the word “or” at the end of clause (b) thereof, (2) deleting the period at the end of clause
(c) thereof and inserting, in lieu thereof, the language “; or”, and (3) inserting the following new clause (d) at the end thereof: 
 “(d) all funds from time to time on deposit in that certain deposit account number [*] maintained with Wells Fargo Bank, N.A. (such funds, the “WF Collateral”, and such account, the “WF
Cash Collateral Account”); provided, however, that only $1,750,000 in WF Collateral deposited in the WF Cash Collateral Account shall be subject to exclusion from the Collateral under this clause (d).” 

 (b) Section 5.7 of the Credit Agreement is hereby deleted in its entirety and the following
new Section 5.7 is hereby inserted in lieu thereof: 
 “5.7. Collateral. Borrower is, and will remain, the sole and
lawful owner, and in possession of, the Collateral, and has the sole right and lawful authority to grant the security interest described in this Agreement. The Collateral is, and will remain, free and clear of all liens, claims and encumbrances of
any kind whatsoever, except for (a) liens in favor of Agent, on behalf of itself and Lenders, to secure the Obligations, (b) liens (i) with respect to the payment of taxes, assessments or other governmental charges or (ii) of
suppliers, carriers, materialmen, warehousemen, workmen or mechanics and other similar liens, in each case imposed by law and arising in the Ordinary Course of Business, and securing amounts that are not yet due or that are being contested in good
faith by appropriate proceedings diligently conducted and with respect to which adequate reserves or other appropriate provisions are maintained on the books of Borrower or its Subsidiaries in accordance with GAAP and which do not involve, in the
judgment of Agent, any risk of the sale, forfeiture or loss of any of the Collateral (a “Permitted Contest”), (c) zoning restrictions, easements, rights of way, encroachments or other restrictions on the use of, and other minor
defects or irregularities in title with respect to, any real property of Borrower or its Subsidiaries so long as the same do not materially impair the use of such real property by Borrower or such Subsidiary, (d) purported liens evidenced by
the filing of precautionary UCC financing statements relating solely to operating leases of personal property entered into in the Ordinary Course of Business, (e) liens in favor of customs and revenue authorities arising as a matter of law to
secure payment of customs duties in connection with the importation of goods, (f) liens existing on the date hereof and set forth on Schedule B hereto, (g) liens securing Indebtedness (as defined below) permitted under
Section 7.2(c) below, provided that (i) such liens exist prior to the acquisition of, or attach substantially simultaneous with, or within 20 days after the, acquisition, repair, improvement or construction of, such property financed by
such Indebtedness and (ii) such liens do not extend to 

  

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any property of Borrower or its Subsidiaries other than the property (and proceeds thereof) acquired or built, or the improvements or repairs, financed by
such Indebtedness, (h) licenses described in Section 7.3(b) below, and (i) liens of Wells Fargo Bank, N.A. in the WF Collateral maintained in the WF Cash Collateral Account securing the Indebtedness permitted under Section 7.2(i)
(all of such liens described in the foregoing clauses (a) through (i) are called “Permitted Liens”). “Ordinary Course of Business” means, with respect to Borrower and its Subsidiaries, the operation of the
business of Borrower and its Subsidiaries consistent with Borrower’s business plan as of the Closing Date, it being understood and acknowledged by the Lenders that the business of Borrower and/or its Subsidiaries involves entering into
corporate collaborations in the fields of energy, chemicals, carbon management and pharmaceuticals pursuant to exclusive and non-exclusive licenses of Intellectual Property.” 
 (c) Section 7.2 of the Credit Agreement is hereby amended by (1) deleting the word “and” at the end of clause
(g) thereof, (2) deleting the period at the end of clause (h) thereof and inserting, in lieu thereof, the language “; and”, and (3) inserting the following new clause (i) thereto: 
 “(i) Indebtedness consisting of reimbursement obligations owing to Wells Fargo Bank, N.A. for one or more standby letters of credit issued from time
to time in favor of Borrower in a face amount not to exceed $1,750,000 in the aggregate at any time.” 
 (d) Section 7.10 of
the Credit Agreement is hereby deleted in its entirety and the following new Section 7.10 is hereby inserted in lieu thereof: 
 “7.10. Deposit Accounts and Securities Accounts. Other than with respect to (1) deposit accounts used solely to fund payroll and withholding taxes and (2) the WF Cash Collateral Account, Borrower will not directly or
indirectly maintain or establish any deposit account or securities account, unless Agent, Borrower and the depository institution or securities intermediary at which the account is or will be maintained enter into a deposit account control agreement
or securities account control agreement, as the case may be (an “Account Control Agreement”), in form and substance satisfactory to Agent (which agreement shall provide that such depository institution or securities intermediary
shall comply with all instructions of Agent without further consent of Borrower, including, without limitation, an instruction by Agent to follow a notice of exclusive control or similar notice (such notice, a “Notice of Exclusive
Control”)), prior to or concurrently with the establishment of such deposit account or securities account (or in the case of any such deposit account or securities account maintained as of the date hereof, prior to or 

  

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concurrently with the entering into this Agreement). Agent may give a Notice of Exclusive Control with respect to any deposit account or securities account
at any time at which an Event of Default has occurred and is continuing. Borrower hereby agrees that it shall not maintain at any time in the WF Cash Collateral Account funds in excess of the lesser of (a) $1,750,000 and (b) 105% of the
aggregate outstanding face amount at such time of all standby letters of credit issued by Wells Fargo Bank, N.A. in favor of Borrower in accordance with the terms and conditions of Section 7.2(i).” 
 3. Amendment to Perfection Certificate and Post Closing Obligation Letter. 
 (a) Subject to the terms and conditions of this Amendment (including, without limitation, the conditions to effectiveness set forth in
Section 6 below), and effective as of the Effective Date (as such term is defined in Section 6 below), Section 6 and Section 7 of the Perfection Certificate shall be amended in the manner described on Schedule
A hereto. 
 (b) Subject to the terms and conditions of this Amendment (including, without limitation, the conditions to effectiveness
set forth in Section 6 below), and effective as of the Effective Date (as such term is defined in Section 6 below), Paragraph 4 of that certain Post Closing Obligations Letter, dated as of September 28, 2007, by and
among the parties hereto, is amended to delete the reference to deposit account number [*] maintained by Borrower with Wells Fargo Bank, N.A. 
 4. No Other Amendments. Except for the amendments set forth and referred to in Section 2 and Section 3 above, the Credit Agreement and the Perfection Certificate shall remain unchanged and in full force
and effect. Nothing in this Amendment is intended, or shall be construed, to constitute a novation or an accord and satisfaction of any of Borrower’s Obligations or to modify, affect or impair the perfection or continuity of Agent’s
security interests in, security titles to or other liens, for the benefit of itself and the Lenders, on any Collateral for the Obligations. 
 5. Representations and Warranties. To induce Agent and Lenders to enter into this Amendment, Borrower does hereby warrant, represent and covenant to Agent and Lenders that after giving effect to this Amendment (i) each
representation or warranty of the Borrower set forth in the Credit Agreement is hereby restated and reaffirmed as true and correct in all material respects on and as of the Amendment Date as if such representation or warranty were made on and as of
the date hereof (except to the extent that any such representation or warranty expressly relates to a prior specific date or period), (ii) no Default or Event of Default has occurred and is continuing as of the date hereof and
(iii) Borrower has the power and is duly authorized to enter into, deliver and perform this Amendment and this Amendment is the legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with its terms.

 6. Condition Precedent to Effectiveness of this Amendment. This Amendment shall become effective as of the Amendment Date,
and the amendments set forth in Section 2 

  

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and Section 3 hereof shall be deemed to be effective as of September 28, 2007 (the “Effective Date”), upon the receipt by
Agent of each of the following, in each case in form and substance satisfactory to Agent and Lenders: 
 (a) one or more counterparts of this
Amendment duly executed and delivered by the Borrower, Agent and Lenders; and 
 (b) one or more counterparts of the attached Confirmation
duly executed and delivered by Wasabi. 
 7. Release. 
 (a) In consideration of the agreements of Agent and Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, Borrower and Wasabi (by executing the Confirmation attached hereto), on behalf of themselves and their successors, assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably release,
remise and forever discharge Agent and Lenders and their respective successors and assigns, and their respective present and former shareholders, affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys, employees, the
agents and other representatives (Agent and Lenders, and all such other Persons being hereinafter referred to collectively as the “Releasees” and individually as a “Releasee”), of and from all demands, actions,
causes of action, suits, covenants, contracts, controversies, agreements, promises, sums of money, accounts, bills, reckonings, damages and any and all other claims, counterclaims, defenses, rights of set-off, demands and liabilities whatsoever
(individually, a “Claim” and collectively, “Claims”) of every name and nature, known or unknown, suspected or unsuspected, both at law and in equity, which Borrower or Wasabi or any of their respective successors,
assigns, or other legal representatives may now or hereafter own, hold, have or claim to have against the Releasees or any of them for, upon, or by reason of any circumstance, action, cause or thing whatsoever which arises at any time on or prior to
the day and date of this Amendment, for or on account of, or in relation to, or in any way in connection with this Amendment or transactions thereunder or related thereto. 
 (b) Each of Borrower and Wasabi (by executing the Confirmation attached hereto) understands, acknowledges and agrees that its release set forth above may
be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such release. 
 (c) Each of Borrower and Wasabi (by executing the Confirmation attached hereto) agrees that no fact, event, circumstance, evidence or transaction which
could now be asserted or which may hereafter be discovered shall affect in any manner the final, absolute and unconditional nature of the release set forth above. 
 8. Covenant Not To Sue. Each of Borrower and Wasabi (by executing the Confirmation attached hereto), on behalf of themselves and their respective successors, assigns, 

  

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and other legal representatives, hereby absolutely, unconditionally and irrevocably, covenant and agree with and in favor of each Releasee that it will not
sue (at law, in equity, in any regulatory proceeding or otherwise) any Releasee on the basis of any Claim released, remised and discharged by Borrower or Wasabi pursuant to Section 7 above. If Borrower or Wasabi or any of their
respective successors, assigns or other legal representatives violates the foregoing covenant, Borrower and Wasabi, for itself and its successors, assigns and legal representatives, jointly and severally agrees to pay, in addition to such other
damages as any Releasee may sustain as a result of such violation, all attorneys’ fees and costs incurred by any Releasee as a result of such violation. 
 9. Advice of Counsel. Each of the parties represents to each other party hereto that it has discussed this Amendment with its counsel. 
 10. Severability of Provisions. In case any provision of or obligation under this Amendment shall be invalid, illegal or unenforceable in
any applicable jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby. 
 11. Counterparts. This Amendment may be executed in multiple counterparts, each of which shall be deemed to be an original and all of which
when taken together shall constitute one and the same instrument. 
 12. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY,
AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE WITHOUT REGARD TO THE PRINCIPLES THEREOF REGARDING CONFLICTS OF LAWS. 
 13. Entire Agreement. The Credit Agreement as and when amended through this Amendment embodies the entire agreement between the parties
hereto relating to the subject matter thereof and supersedes all prior agreements, representations and understandings, if any, relating to the subject matter thereof. 
 14. No Strict Construction, Etc. The parties hereto have participated jointly in the negotiation and drafting of this Amendment. In the event an ambiguity or question of intent or interpretation arises,
this Amendment shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Amendment. Time is of the essence
for this Amendment. 
  

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 15. Costs and Expenses. Borrower absolutely and unconditionally agree to reimburse Agent
for all reasonable and documented out-of-pocket fees, costs and expenses, including all reasonable fees and expenses of one counsel or the allocated cost of internal legal staff, incurred in the preparation, negotiation, execution and delivery of
this Amendment and any other Debt Documents or other agreements prepared, negotiated, executed or delivered in connection with this Amendment or transactions contemplated hereby. 
 [Signature Page to Follow] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to Loan and Security
Agreement to be duly executed and delivered as of the day and year specified at the beginning hereof. 
  

			
	BORROWER:
	
	CODEXIS, INC.
		
	By:	 	 /s/ Alan Shaw

	Name:	 	Alan Shaw
	Title:	 	President & CEO

 [Additional signature pages to follow] 
 SIGNATURE PAGE 
 FIRST AMENDMENT 
  

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Commission. Confidential treatment has been requested with respect to the omitted portions. 

			
	AGENT AND LENDER:
	
	GENERAL ELECTRIC CAPITAL CORPORATION
		
	By:	 	 /s/ Daniela Gjenero

	Name:	 	Daniela Gjenero
	Title:	 	Duly Authorized Signatory
	
	LENDER:
	
	OXFORD FINANCE CORPORATION
		
	By:	 	 /s/ T.A. Lex

	Name:	 	T.A. Lex
	Title:	 	COO

 SIGNATURE PAGE 
 FIRST AMENDMENT 
  

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Commission. Confidential treatment has been requested with respect to the omitted portions. 

 CONFIRMATION 
 The undersigned Guarantor hereby acknowledges and agrees to the terms and performance of the within and foregoing First Amendment to Loan and Security Agreement, and hereby ratifies all the provisions of the Credit
Agreement, its Guaranty and any other Debt Documents to which it is a party and confirms that all provisions of each such documents are in full force and effect. 
 IN WITNESS WHEREOF, the undersigned has executed this Confirmation as of the day and year first above set forth. 
  

			
	WASABI ACQUISITION LLC
		
	By:	 	 /s/ Alan Shaw

	Name:	 	Alan Shaw
	Title:	 	President & CEO

 SIGNATURE PAGE 
 CONFIRMATION AGREEMENT 
  

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Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Schedule A 
 Amendments to Perfection Certificate 
 Section 6 of the Perfection Certificate is amended by adding the
following disclosure: 
 Indebtedness of the Borrower arising under the Standby Letter of Credit Agreement, dated as of June 8, 2007 by
and between the Borrower and Wells Fargo Bank, National Association and any modifications, replacement, refinancing, refunding, renewal or extension thereof. 
 Section 7 of the Perfection Certificate is amended by adding the following disclosure: 
  

					
	 Name of Holder of Lien/Encumbrance
	  	 Description of Property Encumbered
	  	 Borrower/Subsidiary

	Wells Fargo Bank, National Association	  	Cash	  	Codexis, Inc

  

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Commission. Confidential treatment has been requested with respect to the omitted portions.License Agreement

 EXHIBIT 10.3 
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 LICENSE AGREEMENT 
 This LICENSE
AGREEMENT (the “Agreement”), effective as of March 28, 2002 (the “Effective Date”), is made by and between Maxygen, Inc., a Delaware corporation (“MUS”), and Codexis, Inc., a Delaware corporation
(“Codexis”). 
 BACKGROUND 
 A. MUS owns and/or controls certain intellectual property, tangible property and technology potentially useful for discovery, research, development and commercialization of Products (as defined herein) for use in the
Codexis Field (as defined herein); and 
 B. Codexis desires to obtain the right to use such intellectual property, tangible
property and technology of MUS in connection with its discovery, research, development and commercialization of Products (as defined herein) in the Codexis Field; and 
 C. MUS is willing to grant to Codexis, and Codexis is willing to accept, such rights, subject to the terms and conditions set forth in
this Agreement; and 
 D. MUS and Codexis have entered into a Services Agreement, a Patent Assignment Agreement, a Trademark
Assignment Agreement and a Stock Issuance and Asset Contribution Agreement, of even date herewith. 
 NOW THEREFORE, for good and valuable
consideration, the sufficiency and receipt of which is hereby acknowledged, the Parties hereby agree as follows: 
 1. DEFINITIONS. The
terms defined in this Article 1 shall have the meanings set forth below for purposes of this Agreement: 
 1.1 “Affiliate”
shall mean a corporation or other entity that is directly or indirectly controlling, controlled by or under common control with another entity. For the purposes of this definition, “control” shall mean the direct or indirect ownership of
fifty percent (50%) or more of the outstanding shares or securities (representing the right to vote for the election of directors or other managing authority) of such corporation or other entity; provided, such corporation or other entity shall
be deemed to be an Affiliate only so long as such ownership or control exists. 
 1.2 “Agrochemical” means any chemical
intended for plant protection or plant growth applications (e.g., any insecticide, nematicide, insect growth regulator, plant growth regulator, fertilizer or herbicide). 
 1.3 “Assignment Agreement” shall mean that certain Patent Assignment Agreement between MUS and Codexis entered of even date herewith. 
 1.4 “Assigned Patents” shall mean (a) the Patent Applications and Patents assigned to Codexis pursuant to the Assignment
Agreement; and (b) those Patent 

 
Applications and Patents owned by Third Parties, to which MUS obtained license rights for use inside and outside the Codexis Field pursuant to an agreement
entered by MUS with a Third Party, which agreement was assigned by MUS to Codexis in connection with the establishment of Codexis, Inc. 
 1.5 “Biocatalyst” shall mean a whole cell (live or dead) of a Microbe or Type II Plant which has been modified using Enabling Technology (whether by Gene Expression Manipulation and/or Metabolic Pathway Manipulation and/or
Strain Improvement or otherwise) that can perform enzymatic catalysis of a particular chemical reaction. 
 1.6 “Basic
Chemical” shall mean a chemical having a molecular weight of less than [*] which is suitable for use as a feedstock for multiple chemical reactions. By way of illustration and without limitation, a chemical monomer or oligomer suitable for
polymerization, or a carbohydrate intended for use as a carbon source in fermentation, would each be a Basic Chemical, if the applicable molecule had a molecular weight of less than [*]. 
 1.7 “Biocatalyst Commercialization” shall mean (i) the preparation, screening and commercial use of Biocatalysts for the purpose
of allowing the selection and commercialization of Biocatalysts solely for use for Bulk Production, and (ii) the manufacture and commercial sale of Biocatalysts solely for use for Bulk Production. 
 1.8 “Building Block” shall mean any non-polypeptide chemical (optionally containing one or more chiral centers), having a molecular
weight of more than [*] and less than [*], that (a) is not a Basic Chemical or a Functional Compound, and (b) is intended for addition to one or more Templates to make a Functional Compound. 
 1.9 “Building Block Development” shall mean the development of one or more Building Blocks for use in Template Decoration. 

1.10 “Bulk Production” shall mean production by Codexis via enzymatic catalysis (using an Enzyme Product or a Biocatalyst) or
fermentation of: 
 (a) any Enzyme Product or Biocatalyst for sale to a Third Party (other than an Affiliate of Codexis) for manufacture of
Catalysis Products, or 
 (b) any Catalysis Product or Fermentation Product for sale to a Third Party (other than an Affiliate of Codexis)
for further processing or formulation, or 
 (c) any Catalysis Product or Fermentation Product which will be formulated by Codexis for sale
to a Third Party, which Product contains one or more Functional Compounds approved by a Regulatory Authority for human or veterinary pharmaceutical use, where such Functional Compound(s) (i) is (are) no longer covered by issued patents in the
country where such production will occur, or (ii) is (are) covered by issued patents owned or Controlled by a Third Party (other than an Affiliate of Codexis) that has contracted to have Codexis formulate such Product on behalf of such Third
Party. 
  

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 1.11 “Catalysis Product” shall mean a Template, Building Block, Functional Compound
and/or Intermediate that, in each case, is produced in substantially pure, noncellular form via enzymatic catalysis using an Enzyme Product or a Biocatalyst. 
 1.12 “Codexis Field” shall mean: 
 (a) Biocatalyst Commercialization and Enzyme
Commercialization, subject to the limitations set forth in Section 2.2.2 and the rights of MUS and Third Parties described in Section 2.8; 
 (b) Building Block Development; and 
 (c) Bulk Production, subject to the limitations set forth in
Section 2.2.2 and the rights of MUS and Third Parties described in Section 2.8. 
 1.13 “Confidential
Information” shall mean (i) any proprietary or confidential information or material in tangible form disclosed by one Party to the other that is marked as “Confidential” or with some similar marking or legend reasonably
indicating its confidential nature at the time it is delivered to the receiving Party, or (ii) proprietary or confidential information disclosed orally or in other intangible form by one Party to the other hereunder that is identified as
confidential or proprietary when disclosed. Confidential Information may include information of Third Parties. 
 1.14
“Control” or “Controlled” shall mean possession of the ability to grant the licenses or sublicenses as provided for herein, or to transfer Materials as provided for herein, without (i) violating the terms of
any agreement or other arrangement with any Third Party, and/or (ii) incurring a contractual payment obligation to a Third Party for the grant or practice of such license or sublicense, as the case may be, provided, if such a contractual
payment obligation would be due to a Third Party for the grant or practice of such a sublicense to the applicable intellectual property or materials, such intellectual property and Materials shall also be deemed to fall within the scope of this
definition, if Codexis or MUS, as the case may be, agrees in writing pursuant to Section 2.1.4(b) to be responsible for any and all payments due to the licensor of such intellectual property or Materials for the grant or practice of such
sublicense. 
 1.15 “Detection and Research Reagent Field” shall mean the field set forth on Exhibit A hereto.

 1.16 “Discovery” means the generation, identification and/or assessment of any potential human or veterinary therapeutic
or prophylactic or Agrochemical, and/or modification of a potential human or veterinary therapeutic or prophylactic or Agrochemical to improve its suitability for such use. 
 1.17 “Enabling Technology” shall mean all Patent Applications and Patents Controlled by MUS on or before the Separation Event relating
to (i) methods of generating genetic diversity (including, without limitation, DNA Shuffling with tangible materials or in silico), or the use thereof, and/or (ii) generally applicable screening techniques, methodologies or
processes for identifying genetic variants of interest. Enabling Technology shall include MUS’ interest in Third Party Improvements, if any. A list of Patent Applications and Patents within the Enabling Technology existing as of the Effective
Date is attached as Exhibit B hereto. 
  

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 1.18 “Enzyme Commercialization” shall mean (i) the preparation, screening and
commercial use of Enzyme Libraries for the purpose of allowing the selection and commercialization of one or more Enzyme Products solely for use for Bulk Production, and (ii) the manufacture and commercial sale of Enzyme Products solely for use
for Bulk Production. 
 1.19 “Enzyme Library” shall mean a set of two or more variant but related enzymes (or genes
encoding such enzymes), in each case, that are made using Enabling Technology. 
 1.20 “Enzyme Product” shall mean an
enzyme selected from an Enzyme Library. 
 1.21 “Excluded Technology” shall mean the Patent Applications and Patents within
the Enabling Technology listed on Exhibit C hereto. 
 1.22 “Expression Host(s)” shall mean eukaryotic and/or
procaryotic and/or archaebacter cells of any type. 
 1.23 “Fermentation Product” shall mean any Template, Building Block,
Functional Compound and/or Intermediate that is produced via fermentation of a Microbe and/or Category II Plant that has been modified with Enabling Technology (whether by Gene Expression Manipulation and/or Metabolic Pathway Manipulation and/or
Strain Improvement or otherwise). 
 1.24 “Functional Compound” shall mean any non-polypeptide, organic chemical produced
in substantially pure form, having a molecular weight of less than [*], that is not a Basic Chemical and is used (i) as an active therapeutic agent for the treatment of any human or animal disease or condition, or (ii) to improve
the flavor of human food or animal feed products, or (iii) to provide or alter the fragrance of perfumes, cosmetic and skin care products, or (iv) for external application to one or more Plants as an herbicide, pesticide or growth
regulator. 
 1.25 “Gene” shall mean a structural gene, including optionally regulatory sequences therefor, including,
without limitation, promoters, enhancers and downstream regulatory elements. 
 1.26 “Gene Expression Manipulation” shall
mean alteration of one or more Gene(s) (e.g., alteration of a sequence of a structural gene or a sequence of a Gene regulatory element, such as a promoter) to enable and/or facilitate Product development or Bulk Production. 
 1.27 “Glaxo Agreement” shall mean the Affymax/Maxygen Technology Transfer Agreement, effective February 1, 1997, entered by and
among Affymax Technologies N.V., Glaxo Group Limited and Maxygen, Inc., as modified on March 1, 1998. The Glaxo Agreement is Exhibit 10.15 to the Form S-1 effective December 15, 1999, filed by Maxygen, Inc. with the U.S. Securities and
Exchange Commission. 
  

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 1.28 “Government Authority” shall mean any supranational, national, regional, state or
local government, court, governmental agency, authority, board, bureau, instrumentality or regulatory body. 
 1.29
“Improvement” shall mean any improvement of or to the Enabling Technology, which improvement is (a) conceived and reduced to practice or otherwise developed on or before the Separation Event by or on behalf of Codexis or a
Third Party that has received a license to the Enabling Technology and is claimed in a published Patent Application or Patent owned or Controlled by Codexis or such Third Party, as the case may be, which Patent Application or Patent is filed on or
before the third anniversary of the Separation Event, and (b) within the scope of a claim of a Patent Application or Patent within the Enabling Technology in any country, which claim is entitled to filing priority based on a Patent Application
or Patent within the Enabling Technology that was filed on or before the Separation Event. 
 1.29.1 “Codexis Improvement”
shall mean an Improvement owned or Controlled (other than through a license from MUS hereunder) by Codexis. 
 1.29.2 “Third Party
Improvement” shall mean an Improvement owned by a Third Party and Controlled by MUS. 
 1.30 “Intermediate” shall
mean with regard to a particular Functional Compound, a non-polypeptide, chemical produced in substantially pure form, having a molecular weight of less than [*], that is intended as and used as the chemical precursor of such Functional Compound. It
is understood and agreed that Intermediate(s) shall not include chemicals having commercial utility for any purpose other than synthesis of the applicable Functional Compound (e.g., Basic Chemicals shall not be Intermediates). 
 1.31 “Internal Research Use” shall mean use by Codexis for internal research to assess the feasibility of producing a particular
Product within the Codexis Field. It is understood and agreed that Internal Research Use does not include production of any Product for commercial sale or any other commercial use of any Product or the conduct of any Services. 
 1.32 “Know-How” shall mean any and all ideas, inventions, discoveries, data, information, and corresponding intellectual property
rights, including, without limitation, instructions, processes, practices, methods, techniques, specifications, formulations, formulae, know-how, trade secrets, protocols, skill, experience, opinions, results of studies, technical drawings and
related copyrights, bioinformatics tools (including software) and related copyrights, and biological, chemical, pharmacological, toxicological, stability, biochemical, pharmaceutical, physical and analytical, pre-clinical and clinical, safety,
efficacy, manufacturing and quality control data, documentation and information, in each case, whether or not patentable, and that are (i) not generally known or available to the public, (ii) Controlled by MUS prior to the Separation Event
and (iii) reasonably related to the use of Enabling Technology and/or the Product Technology in the Codexis Field. 
  

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 1.33 “Materials” shall mean any chemical or biological substances including any:
(i) organic or inorganic chemical element or compound; (ii) nucleic acid; (iii) vector of any type (e.g., cosmid, plasmid, spore, phage, virus, or virus-like particle), and subunits of the foregoing; (iv) host organism, including
procaryotic and/or eukaryotic cells or animals; (v) eukaryotic or prokaryotic cell line or expression system; (vi) protein, including any peptide or amino acid sequence, enzyme, antibody or protein conferring targeting properties and any
fragment of any of the foregoing; (vii) genetic material, including, without limitation, any genetic nucleic acid construct, marker gene and genetic control element (e.g., promoter, termination signal), gene, genome or variant of any of the
foregoing; and/or (viii) assay or reagent, in each case, which are Controlled by MUS prior to the Separation Event and reasonably related to the use of Enabling Technology and/or the Product Technology in the Codexis Field. 
 1.34 “Metabolic Pathway Manipulation” shall mean alteration of one or more single Genes, multiple Genes, genetic pathways and/or
genomes by modification of pathway control mechanisms to enable and/or facilitate: 
 (a) Product development via (i) altered pathway
flux or activity, and/or (ii) altered Product yield; and/or 
 (b) Bulk Production. 
 1.35 “Microbe” shall mean whole (live or dead) procaryotic organisms and/or yeasts and/or fungi (excluding those which are Type II
Plants), or extracts thereof. 
 1.36 “Novo Agreement” shall mean the License and Commercialization Agreement effective
September 17, 1997, entered by and between Maxygen, Inc. and Novo Nordisk A/S, as amended. The Novo Agreement, with the amendments thereto dated June 29, 1998, July 29, 1998 and April 12, 1999, are set forth in Exhibit 10.11
to the Form S-1 effective December 15, 1999 filed by Maxygen, Inc. with the U.S. Securities and Exchange Commission. 
 1.37
“Party” shall mean MUS or Codexis, individually, and “Parties” shall mean MUS and Codexis, collectively. 
 1.38 “Patent Applications and Patents” shall mean any and all United States provisional and/or utility patent applications, including, without limitation, all divisions, renewals, continuations in whole or in part,
substitutions and patents of addition thereof, and any and all foreign counterparts of any of the foregoing, and any letters patent and/or registrations issuing on any of the foregoing (including, without limitation, all reissues, renewals,
extensions, confirmations, re-registrations, re-examinations, re-validations, supplementary protection certificates and/or other governmental actions that extend the term of any such letters patent) which may be granted on any of the foregoing in
the United States and/or other any countries or multinational jurisdictions of the world. 
 1.39 “Plant(s)” shall mean
whole Plants, Plant seeds, Plant parts, Plant cells and/or Plant cell cultures derived from Category I Plants and/or Category II Plants. 
 1.39.1 “Category I Plants” shall mean: 
 (a) land plants, including nonseed plants (Bryophytes, Tracheophytes)
such as liverworts, mosses, ferns, and seed plants, such as gymnosperms and angiosperms (monocot and dicots); and/or 
  

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 (b) non-land plants, including the Prasinophytes, Chlorophyceae, Trebouxiouphyceae, Ulvophyceae,
Chlorokybales, Streptophyta, Klebsormidiales, Zygnematales, Charales, Coleochaetales and Embryophytes. 
 1.39.2 “Category II
Plants” shall mean: 
 (a) mushrooms (Basidiomycetes); and/or 
 (b) photosynthetic bacteria, including, but not limited to blue green algae (Cyanobacteria); and/or 
 (c) eukaryotic photosynthetic algae and microalgea including, but not limited to green algae (Chlorophytes and Euglenophytes), yellow algae
(Cyanophytes), brown algae (Phaeophytes, Xanthophytes, Eustigmatophytes and Raphidophytes) and red algae (Rhodophytes); and/or 
 (d)
microalgae, including but not limited to diatoms (Chrysophytes and Pyrrophytes). 
 1.40 “Product” shall mean any Catalysis
Product, Enzyme Product, Biocatalyst or Fermentation Product that: 
 (a) is made or developed with the use of Enabling Technology, whether
by Gene Expression Manipulation and/or Metabolic Pathway Manipulation and/or Strain Improvement or otherwise (e.g., incorporates any variant gene made with Enabling Technology, and/or any protein or peptide expressed therefrom), and/or 

(b) is developed with the use of Product Technology, or incorporates, or is made using, or is substantially derived from, Product Technology.

 1.41 “Product Technology” shall mean the Patent Applications and Patents Controlled by MUS on or before the Separation
Event that are necessary or useful for use in the Codexis Field, that are not included in Enabling Technology. A list of the Patent Applications and Patents within the Product Technology existing as of the Effective Date is attached as Exhibit
D hereto. 
 1.42 “Prosecution Costs” shall mean all costs (including, without limitation, filing fees and annuities,
and attorney, agent and/or expert fees) incurred by MUS in connection with the (a) preparation, filing, prosecution (including, without limitation, any appeal) and/or maintenance of any Patent Application or Patent within the Enabling
Technology or the Product Technology in any country or multinational jurisdiction of the world, or (b) conduct of any interference, opposition, re-examination, reissue or similar proceedings with respect to any Patent Application or Patent
within the Enabling Technology or the Product Technology in any country or multinational jurisdiction of the world. 
  

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 1.43 “Regulatory Agency” shall mean the FDA, the Committee on Proprietary Medicinal
Products (“CPMP”) of the European Medicines Evaluation Agency, and other Governmental Authority having similar jurisdiction over the development, manufacturing, and marketing of human or veterinary pharmaceuticals and/or food or feed
ingredients or products. 
 1.44 “Separation Event” shall mean the first date that the combined ownership of Codexis’
outstanding shares by MUS and its Affiliates falls below fifty percent (50%) of the voting power entitled to vote in the election of Codexis’ directors. 
 1.45 “Service” shall mean any activity conducted by Codexis on behalf of a Third Party in which Enabling Technology and/or Product Technology is used to discover, research or develop or produce any
Product(s). 
 1.46 “Shuffling” shall mean the recombination and/or rearrangement and/or mutation of genetic material for
the creation of genetic diversity. 
 1.47 “Stock Issuance and Asset Purchase Agreement” shall mean that certain Stock
Issuance and Asset Contribution Agreement entered by MUS and Codexis of even date herewith. 
 1.48 “Strain Improvement”
shall mean modification of a Microbe or a Category II Plant to enhance its suitability for use in Bulk Production of one or more Fermentation Products. 
 1.49 “Sublicensee” shall mean a Third Party to whom Codexis has granted a sublicense of its rights in Section 2.1. 
 1.50 “Template” shall mean the minimally active, non-polypeptide chemical structure (e.g., a pharmacophore) having a molecular weight of less than [*], that is common to a family of chemical
structures, and (a) is known to possess measurable specific bioactivity (e.g., biostimulatory, bioinhibitory, receptor binding, enzyme substrate, channel blocking or similar activities) in a particular in vitro or in vivo disease
model system, and (b) is useful as an Intermediate. 
 1.51 “Template Decoration” shall mean modification of a
Template by a Third Party (other than an Affiliate of Codexis) by attaching, via one or more chemical and/or enzymatic steps, one or more Building Blocks to generate an organic chemical product (including, without limitation, a Product or a
Functional Compound) having a molecular weight of less than [*]. 
 1.52 “Third Party” means any person or entity other
than MUS or Codexis (or their successors in interest). 
 1.53 “Third Party Agreement” shall mean any agreement that was
entered or is entered by MUS with a Third Party prior to the Separation Event (excluding those agreements assigned to Codexis pursuant to the Stock and Asset Purchase Agreement), pursuant to which MUS obtained or obtains a license, with the right to
sublicense, of Patent Applications and/or Patents within the Enabling Technology useful in the Codexis Field. 
  

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 2. LICENSE GRANTS TO CODEXIS 
 2.1 Grants. 
 2.1.1 Licenses.
Subject to the terms and conditions herein, including without limitation Sections 2.2, 2.4, 2.6, 2.7 and 2.8, MUS hereby grants to Codexis, and Codexis hereby accepts, irrevocable (except as, provided in Sections 9.4.1, 12.2, 12.3 and 12.4),
worldwide, royalty-free (subject to Section 2.1.5(b)) licenses, as follows: 
 (a) with respect to the Enabling Technology and related
Know-How: 
 (i) an exclusive license in Microbes to develop, make, have made, use, import, have imported, offer for sale, sell or otherwise
commercialize or distribute Products and corresponding Services in the Codexis Field; and 
 (ii) a non-exclusive license in Category II
Plants to develop, make, have made, use, import, have imported, offer for sale, sell or otherwise commercialize or distribute Products and Services in the Codexis Field; and 
 (b) with respect to the Enabling Technology and related Know-How, a non-exclusive license to develop, make and use Expression Hosts for Internal
Research Use; and 
 (c) with respect to the Product Technology and related Know-How, an exclusive license to develop, make, have made, use,
import, have imported, offer for sale, sell or otherwise commercialize or distribute Products and corresponding Services in the Codexis Field. 
 2.1.2 Bailment. MUS hereby grants to Codexis, and Codexis hereby accepts, a bailment to non-exclusively use the Materials provided by MUS to Codexis to practice the licenses granted in Section 2.1.1. 
 2.1.3 Further License Grants. In addition to the licenses granted in Section 2.1.1 above, at such time, if any, that MUS assigns to Codexis
the Subject Agreements (as defined below), then, subject to the terms and conditions of this Agreement, MUS shall concurrently grant to Codexis, licenses under the Enabling Technology and related Know-How, and Product Technology and related
Know-How, to the extent necessary for Codexis to allow it to perform its contractual obligations existing as of the date of assignment with regard to such Subject Agreements, for the sole purpose of allowing Codexis to perform such contractual
obligations under such agreements. For purposes of this Section 2.1.3, the “Subject Agreements” shall mean (i) the Novo Agreement; (ii) the Collaborative Research and Development Agreement entered by Maxygen, Inc. and
Technological Resources Pty Limited effective January 19, 2000, (iii) the Research Agreement entered by Maxygen, Inc. and Chevron U.S.A, Inc. effective October 11, 2000, (iv) the Collaborative Agreement entered by Maxygen, Inc.
and Hercules 

  

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Incorporated effective October 31, 2000; (v) the Collaboration Agreement entered by Maxygen, Inc. and Cargill-Dow L.L.C., effective March 19,
2002; (vi) the Research Agreement entered by Maxygen, Inc. and Pfizer, Inc., effective September 13, 2000, as amended prior to the Effective Date of this Agreement; and (vii) the Agreement entered by Maxygen, Inc. and Gist-Brocades
B.V., effective March 15, 1999, as amended prior to the Effective Date of this Agreement. 
 2.1.4 Know-How. All Know-How
licensed to Codexis hereunder shall be treated as Confidential Information of MUS subject to Article 6 below. 
 2.1.5 Third Party
Agreements. 
 (a) Codexis acknowledges that certain Patent Applications and Patents within the Enabling Technology have been or may be
licensed to MUS pursuant to the Third Party Agreement(s), and that the sublicenses granted by MUS to Codexis with respect thereto are subordinate to the terms of any such Third Party Agreement. Codexis further acknowledges that any breach of such
terms by Codexis or its Sublicensees may result in damage to MUS and/or other sublicensees of the subject Enabling Technology, which may include, without limitation, loss of license rights to such Enabling Technology and/or monetary damages, and
agrees to act reasonably to avoid any breach of such terms. 
 (b) Codexis further acknowledges that, with respect to Patent Applications
and Patents licensed to MUS pursuant to a Third Party Agreement, the sublicense by MUS to Codexis may result in payment obligations to the Third Party for the grant and/or practice of such sublicense to Codexis, and agrees that Codexis shall only
receive such a sublicense if it agrees in writing, in a form reasonably acceptable to MUS, to pay any such amounts due for the grant of a sublicense to Codexis or practice of such a sublicense by Codexis or its Sublicensees (which payments, may
include milestone payments and/or royalties on product sales), and to otherwise comply with the terms of such Third Party Agreement. 
 (c)
MUS shall promptly notify Codexis of the terms of any such Third Party Agreement as they relate to the licenses granted hereunder to Codexis. 
 2.2 Limitations on Licenses. 
 2.2.1 Limited MUS Rights. It is understood and agreed that with respect to any aspect
of the Enabling Technology or Product Technology, as the case may be, for which MUS has less than fully exclusive, worldwide rights (i.e., co-exclusive, non-exclusive, limited territorial or otherwise restricted rights) for use in the Codexis Field,
the licenses provided in Section 2.1 shall be limited to those rights that MUS Controls and has the right to sublicense to Codexis in the Codexis Field. 
 2.2.2 No License Rights. Notwithstanding Section 2.1, it is understood and agreed that no license or right is granted with regard to the Enabling Technology or Product Technology, and/or related Know-How
and Materials: 
 (a) to develop, make, have made, use, import, have imported, offer for sale or otherwise commercialize or distribute
Products (or Services using such Products): 
 (i) that are made in Category I Plants; or 
  

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 (ii) that are intended to enable or facilitate the performance of any method within the Enabling
Technology by a Third Party (other than a Sublicensee), whether in the form of an instrument, a kit, or set of materials or reagents, or instruction set, protocol or software, computer program or any other form; or 
 (b) to make, have made, use, promote, market, distribute and/or 
 (i) Licensed Products (as defined in the Novo Agreement) within the exclusive licenses granted to Novo Nordisk for use in the Novo Nordisk Field (as defined in the Novo Agreement); or 
 (ii) any products (including, without limitation, any Products) intended for use in the Detection and Research Reagent Field; or 
 (c) to conduct ab initio drug Discovery (i.e., discovery or development of novel pharmaceutical products) or otherwise identify or develop
potential human or veterinary therapeutic or prophylactic products (e.g., small molecules, proteins (including, without limitation, enzymes) or vaccines); or 
 (d) to make, have made, sell, distribute and/or otherwise commercialize analogs of any Functional Compound for use in the Discovery of pharmaceutical and/or Agrochemical products; or 
 (e) to make, have made, sell, distribute and/or otherwise commercialize any organic chemical (including, without limitation, any Product or Functional
Compound) or set of organic chemicals to which one or more Building Blocks have been added, in each case, for use in the Discovery of pharmaceutical and/or Agrochemical products; or 
 (f) to make, have made, use or distribute (by sale, license, lease, placement or otherwise) variant nucleic acids or proteins made with the use of
Enabling Technology for: (i) the discovery or identification of the properties of such nucleic acids or proteins (except Enzyme Products and corresponding DNA), (ii) the discovery of ligands, agonists or antagonists of ligands to any such
nucleic acids or proteins, (iii) to discover or develop or modify substances for use to cure, treat, prevent or modulate any human or veterinary or plant disease or condition or for production, purification, or formulation of pharmaceuticals,
vaccines and/or Agrochemicals, and/or (iv) any use outside the Codexis Field; or 
 (g) to make, have made, use or distribute (by sale,
license, lease, placement or otherwise) of any variant nucleic acids or proteins made with the use of Enabling Technology (except Enzyme Products and corresponding DNA) for the comparative evaluation of the properties of such nucleic acids or
proteins or the elucidation of structure-function relationships with respect thereto; or 
  

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 (h) to make, have made, use or distribute (by sale, license, lease, placement or otherwise) of any
variant nucleic acids or proteins made with the use of Enabling Technology (except Enzyme Products and corresponding DNA) for the discovery of ligands, agonists or antagonists of ligands to any such variant nucleic acids or proteins made with the
use of Enabling Technology or the elucidation of related structure-function relationships, in each case, to facilitate discovery of pharmaceuticals, vaccines and/or Agrochemicals. 
 It is understood and agreed that the license granted Codexis herein shall not include any right or license to use Enabling Technology or Product Technology or related Know-How or Materials to modify any Template,
Functional Compound or other compound for discovery by Codexis or any Sublicensee of novel pharmaceutical and/or Agrochemical products. 
 2.2.3 Acknowledgement. Codexis acknowledges and agrees that MUS shall have the right, without violating any term of this Agreement, to grant to Third Parties, including without limitation Affiliates of MUS, licenses under the
Enabling Technology, to develop, make, have made, use, import, have imported, and offer for sale Products (and/or Services) for use in fields outside the Codexis Field. 
 2.3 Right to Sublicense. Codexis (or its successor) may grant sublicenses to the Enabling Technology, Product Technology and related Know-How to such Third Parties as it deems appropriate, but such sublicenses
may only grant rights to practice in the Codexis Field; provided, Codexis may not sublicense the rights granted in Section 2.1.1(b) except in connection with a grant of a sublicense of the rights granted it in Section 2.1.1(a). Codexis (or
its successor) may grant licenses to the Assigned Patents as it deems appropriate. 
 2.4 Continued License Rights. Upon the
occurrence of the Separation Event: 
 (a) all licenses granted under this Agreement in effect as of the Separation Event shall remain in
effect, subject to the terms and conditions of this Agreement; and 
 (b) Codexis
shall not receive additional license rights to Patent Applications and Patents within Enabling Technology or Product Technology conceived and reduced to practice or otherwise developed after the Separation Event, except with respect to claims of
Patent Applications or Patents within the Enabling Technology or Product Technology (as the case may be) for which MUS is entitled to claim filing priority .based on another Patent Application or Patent within the Enabling Technology filed on or before the Separation Event. By way of illustration and without limitation, Codexis would be entitled to license rights to a divisional Patent
Application (filed after the Separation Event) of a Patent Application within the Enabling Technology filed prior to the Separation Event, but would not have license rights to those claims of a continuation-in-part Patent Application (filed after
the Separation Event) of a Patent Application or Patent within the Enabling Technology filed on or before the Separation Event, which claims relate to subject matter conceived and reduced to practice or otherwise developed after the Separation
Event. 
  

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 2.5 Grantback License to Improvements. Codexis shall grant and hereby grants to MUS a
non-exclusive, irrevocable, royalty-free, worldwide license, with the right to grant and authorize sublicenses, with respect to all Codexis Improvements for use outside the Codexis Field. With respect to any and all sublicenses granted by Codexis to
Enabling Technology or related Know-How on or before the third anniversary of the Separation Event, Codexis shall use reasonable efforts to retain Control of Improvements made by any such Sublicensee sufficient to convey a license as described in
the preceding sentence to MUS. Any and all Codexis Improvements may be sublicensed by MUS, in MUS’ sole discretion, for use outside the Codexis Field. 
 2.6 Prohibition on Transfer. Prior to the Separation Event, neither this Agreement nor the licenses granted to Codexis in Section 2.1 may be assigned by merger, operation of law or otherwise, without the
prior express written consent of MUS, which MUS may grant or refuse to grant in its sole discretion. 
 2.7 Retained Rights.

 2.7.1 MUS. Notwithstanding the license grants in Section 2.1, the Parties agree that: 
 (a) MUS and its wholly-owned Affiliates shall until the Separation Event, retain the right to conduct research with the Enabling Technology and related
Know-How in the Codexis Field for the purpose of (i) improving and expanding Enabling Technology, and/or (ii) exploring applications of the Enabling Technology for areas outside the Codexis Field; provided, MUS and its wholly-owned
Affiliates shall not use the Enabling Technology for the primary intended purpose of developing any Products or Services for use in the Codexis Field, on its own behalf or on behalf of any Third Party. 
 (b) At all times during and after this Agreement, nothing herein shall restrict, or be construed to restrict, MUS’ right to practice and grant
licenses to practice the Enabling Technology and Product Technology and/or use related Know-How, outside the Codexis Field. It is understood and agreed that, at all times, MUS shall retain (i) the right (sublicensable to its Affiliates) to
internally use the Enabling Technology, Product Technology and related Know-How to discover, develop and commercialize novel pharmaceutical and/or agrochemical products by any means, which may include, without limitation, the development of Building
Blocks, the addition of Building Blocks to Templates and/or analoging of Functional Compounds, and (ii) the sublicensable right to make and/or have made, use, import, have imported, offer for sale and/or sell any such products. 
 2.7.2 Codexis. Except as expressly set forth in this Agreement, nothing herein shall limit the ability of Codexis to use any other intellectual
property, tangible property or technology developed by it or acquired by it (by license, acquisition or otherwise) for any purpose, in or outside the Codexis Field. 
 2.8 Third Party Rights. Codexis hereby acknowledges that MUS has informed Codexis prior to the Effective Date that: 
 2.8.1 In connection with the initial establishment of MUS, in the–Glaxo Agreement MUS has granted perpetual, worldwide, non-exclusive licenses to certain entities associated with Glaxo Wellcome to use certain Enabling
Technology for internal research purposes only (the “Glaxo Rights”), and Codexis hereby agrees that the rights and licenses granted Codexis in Section 2.1 are subject to the Glaxo Rights. 
  

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 2.8.2 Prior to the Effective Date, MUS has granted to Third Parties licenses to certain Enabling
Technology and related Know-How in fields outside the Codexis Field, and that after the Effective Date, MUS may grant licenses under the Enabling Technology and related Know-How to other Third Parties (including, without limitation, other Affiliates
of MUS) for use outside the Codexis Field. 
 2.8.3 Novo Nordisk has granted to MUS a co-exclusive, worldwide license to certain Patent
Applications and Patents within the Enabling Technology to make, have made and use products (including, without limitation, Products) for the development and commercialization of products for the cure, treatment, mitigation and prevention of human
or animal diseases. 
 2.8.4 MUS has granted to Novo Nordisk in the Novo Agreement exclusive rights to use Enabling Technology to make or
have made Licensed Products for use in the Novo Nordisk Field and the Preferred Areas (as such terms are defined in the Novo Agreement). 
 2.8.5 MUS intends to use Enabling Technology itself and/or to grant to one or more other Third Parties rights to use Enabling Technology to discover novel pharmaceutical and/or Agrochemical products, and to develop, make, have made, use and
commercialize such products. 
 2.9 Delivery. Promptly following the Effective Date, at Codexis’ written request, MUS shall, to
the extent that these are in MUS’ possession and MUS Controls the same, deliver to Codexis (a) documents (in electronic or hard copy format) embodying Know-How, as agreed by the Parties, and (b) samples of any Materials necessary to
allow Codexis to establish initial stocks of the same, provided, in each case, MUS shall have no on-going obligation to deliver further Know-How or Materials, unless otherwise agreed in writing by the Parties. 
 2.10 Improvements. Until the third anniversary of the Separation Event, Codexis and MUS shall each annually notify the other of any Patent
Applications or Patents claiming one or more Improvements which such Party owns or Controls, and provide to the other Party copies of any of the foregoing which have not been previously provided to such other Party. 
 2.11 No Implied Rights. No rights, options or licenses with respect to any intellectual property owned by Maxygen or Codexis are granted or will
be deemed granted under this Agreement or in connection with it, other than those rights expressly granted in this Agreement. 
  

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 2.12 U.S. Rights. Codexis acknowledges that certain of the inventions claimed in the Patent
Applications and Patents within the Enabling Technology and/or the Product Technology have been made with funds provided by the U.S. Government, and that with respect thereto the U.S. government retains a non-exclusive license as set forth in 35
U.S.C. §202. At Codexis’ written request, MUS will provide to Codexis a list of the Patent Applications and Patents that, to the best of MUS’ then-current knowledge, claim inventions made with funds provided by the U.S. Government. In
addition, Codexis acknowledges that 35 U.S.C. §200 et seg. sets forth additional obligations with regard to inventions made with U.S. government funds and products based thereon, including, without limitation, a preference for
manufacture in the United States pursuant to 35 U.S.C. §204. 
 3. ASSIGNMENT TO CODEXIS; LICENSE TO MUS 
 3.1 Assignment. The Parties acknowledge that MUS has assigned to Codexis certain Patent Applications and Patents in the Assignment Agreement.

 3.2 License to MUS. In partial consideration for the rights granted herein, Codexis shall grant and hereby grants, and MUS hereby
accepts, a non-exclusive, irrevocable (unless in the case of Patent Applications and Patents within the scope of Section 1.4(b), prohibited by the applicable Third Party Agreement), royalty-free (subject to Section 3.3) worldwide license
under the Assigned Patents, with the right to grant and authorize sublicenses to licensees of the Enabling Technology and Product Technology, to develop, make, have made, use, import, have imported, offer for sale, sell or otherwise commercialize or
distribute Products and Services solely outside the Codexis Field. 
 3.3 Third Party Agreements. 
 3.3.1 MUS acknowledges that certain Patent Applications and Patents within the Assigned Patents have been or may be licensed to Codexis pursuant to the
Third Party Agreement(s), and that the sublicenses granted by Codexis to MUS with respect thereto are subordinate to the terms of any such Third Party agreement. MUS further acknowledges that any breach of such terms by MUS or its sublicensees may
result in damage to Codexis and/or other sublicensees of the subject Assigned Patents, which may include, without limitation, loss of license rights to such Assigned Patents and/or monetary damages, and agrees to act reasonably to avoid any breach
of such terms. 
 3.3.2 MUS further acknowledges that, with respect to Patent Applications and Patents licensed to Codexis pursuant to a
Third Party agreement, the sublicense by Codexis to MUS may result in payment obligations to the Third Party for the grant and/or practice of such sublicense to MUS, and agrees that MUS shall only receive such a sublicense if it agrees in writing,
in a form reasonably acceptable to Codexis, to pay any such amounts due for the grant of a sublicense to MUS or practice of such a sublicense by MUS or its sublicensees (which payments, may include milestone payments and/or royalties on product
sales), and to otherwise comply with the terms of such Third Party agreement. 
 3.3.3 Codexis shall promptly notify MUS of the terms of any
such Third Party agreement as they relate to the licenses granted hereunder to MUS. 
  

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 4. COVENANTS 
 4.1 Use Within the Codexis Field. Codexis covenants that it will not knowingly practice its licenses to the Enabling Technology and related Know-How, or its licenses to the Product Technology and related
Know-How, for the purpose of developing or commercializing Products or Services for use outside the Codexis Field. 
 4.2 Use Outside the
Codexis Field. MUS covenants that it will not knowingly use its retained rights with regard to the Enabling Technology or the Product Technology, or knowingly practice its license to Codexis Improvements (if any), for the purpose of developing
or commercializing Products or Services for use in the Codexis Field; provided that such covenants shall be subject to Section 2.7.1 and further provided that such covenants shall terminate with regard to any Patent Applications and/or Patents
for which Codexis’ license terminates pursuant to Sections 9.4.1, 12.2, 12.3 and/or 12.4 below. 
 5. CONSIDERATION. In partial
consideration for the rights granted hereunder, Codexis shall issue to MUS one million (1,000,000) shares of Common Stock and six million (6,000,000) shares of Series A Preferred Stock of Codexis pursuant to the Stock Issuance and Asset
Contribution Agreement by and between MUS and Codexis of even date hereof. 
 6. CONFIDENTIALITY 
 6.1 Confidential Information. Except as expressly provided herein, the Parties agree that, for the term of this Agreement and for five
(5) years thereafter, each Party shall keep completely confidential and shall not publish, permit access to or otherwise disclose and shall not use for any purpose except to practice the rights granted in Article 2 or as expressly permitted in
this Article 6, any Confidential Information furnished to such Party by the disclosing Party hereto pursuant to this Agreement, except to the extent that it can be established by the receiving Party by competent proof that such Confidential
Information: 
 (a) was already known to the receiving Party, other than under an obligation of confidentiality, at the time of initial
disclosure hereunder; 
 (b) was generally available to the public or otherwise part of the public domain at the time of its initial
disclosure to the Receiving Party hereunder; 
 (c) became generally available to the public or otherwise part of the public domain after
its disclosure hereunder and other than through any act of commission or omission of the receiving Party in breach of this Agreement; 
 (d)
was independently developed by the receiving Party without reference to any information or materials disclosed by or on behalf of the disclosing Party, as demonstrated by contemporaneous documentation; or 
 (e) was subsequently disclosed to the receiving Party by a Third Party without breach of any legal obligation to the disclosing Party. 
  

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 6.2 Permitted Disclosures. Each Party may disclose the other Party’s Confidential
Information, to the extent such disclosure is reasonably necessary in filing or prosecuting Patent Applications within the Enabling Technology and/or Product Technology, prosecuting or defending litigation, complying with applicable laws or
regulations or otherwise submitting information to tax or other Government Authorities (including, without limitation, in filings with the U.S. Food & Drug Administration, U.S. Environmental Protection Agency, U.S. Department of Agriculture
and/or similar foreign regulatory entities), conducting clinical or field trials, or making a permitted sublicense or otherwise exercising its rights hereunder; provided, after the Separation Event, Codexis may not use Confidential Information
received from MUS in connection with filing or prosecuting Patent Applications without MUS’ prior written consent. Each time a Party is required to disclose, or in the exercise of its rights hereunder, makes any disclosure of the other
Party’s Confidential Information, other than pursuant to a confidentiality agreement with confidentiality and non-disclosure obligations at least as restrictive as those set forth in this Agreement, such Party will give reasonable advance
notice to such other Party of such contemplated disclosure and, save to the extent inappropriate in the case of Patent Applications, will use reasonable efforts to secure confidential treatment of such information of the other Party prior to each
such disclosure (whether through protective orders or otherwise). 
 6.3 Duty of Care. Each Party agrees (a) to keep in
confidence and trust all of the other Party’s Confidential Information received by it, (b) not to use Confidential Information of the other Party other than as expressly permitted under the terms of this Agreement or any other agreement
between the Parties, (c) to take reasonable steps to prevent unauthorized disclosure or use of the other Party’s Confidential Information, and to prevent it from falling into the public domain or the possession of unauthorized persons, and
(d) to disclose the Confidential Information only to those persons who need access to the Confidential Information for purposes of the Party carrying out its business as contemplated herein and, except as permitted under Section 6.4, only
to those persons who have executed a confidentiality agreement with confidentiality and non-disclosure obligations at least as restrictive as those set forth in this Agreement that protects the other Party’s Confidential Information.

 6.4 Terms. Except as expressly provided in this Agreement, each Party agrees not to disclose any terms of this Agreement to any
Third Party without the written consent of the other Party; provided, disclosures may be made to: (i) its wholly-owned Affiliates; (ii) professional advisors, potential or actual, licensees or sublicensees, acquirors, acquirees or business
partners, in each case, so long as they are bound by obligations requiring reasonable precautions be taken to protect the confidentiality and prevent misuse of such information; and/or (iii) the extent required to comply with applicable laws
and regulations. 
 7. REPRESENTATIONS AND WARRANTIES 
 7.1 MUS. MUS represents and warrants, as of the Effective Date, that: 
 7.1.1 it has the right to
enter this Agreement, has the power and authority to execute and deliver this Agreement and to perform its obligations hereunder, and that the execution, delivery, and performance by MUS of this Agreement, except as otherwise disclosed to Codexis in
writing prior to the Effective Date, will not conflict with or result in any breach of, or constitute a default under, any security agreement, commitment, contract, or other agreement, instrument or undertaking to which MUS is a party; 

 

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 7.1.2 MUS owns or Controls the Enabling Technology and the Product Technology; 
 7.1.3 to the best of its knowledge, except as previously disclosed to Codexis in writing prior to the Effective Date, it has not received a claim from a
Third Party alleging that the practice of the Enabling Technology or the Product Technology in the Codexis Field would infringe any patent, copyright, or other intellectual property right of a Third Party; and 
 7.1.4 it will not during the term of this Agreement violate the covenant in Section 4.2. 
 7.2 Codexis. Codexis represents and warrants, that: 
 7.2.1 as of the Effective Date, that it has the right to enter this Agreement, has the power and authority to execute and deliver this Agreement and to perform its obligations hereunder, and that the execution,
delivery, and performance by Codexis of this Agreement will not conflict with or result in any breach of, or constitute a default under, any security agreement, commitment, contract, or other agreement, instrument or undertaking to which Codexis is
a party; and 
 7.2.2 it will not during the term of this Agreement violate the covenant in Section 4.1. 
 7.3 Disclaimers. Nothing in this Agreement shall be construed as: 
 (a) a representation or warranty of either Party as to the validity or scope or enforceability of any Patent Application or Patent licensed under this Agreement; 
 (b) a representation or warranty of either Party that any Product or Service developed, made, used, sold or marketed or otherwise commercially exploited
under any license granted in this Agreement is or will be free from infringement of Patents of Third Parties; 
 (c) a requirement that
either Party file any Patent Application, secure any Patent, or maintain any Patent in force; or 
 (d) an obligation to bring or prosecute
any actions or suits against Third Parties for patent infringement of any Patent licensed under this Agreement. 
 7.4 No Warranty.
Except as expressly provided in this Article 7, THE ENABLING TECHNOLOGY, PRODUCT TECHNOLOGY, KNOW-HOW AND MATERIALS ARE LICENSED TO CODEXIS “AS IS”. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS ARTICLE 7, MUS SPECIFICALLY DISCLAIMS ALL

  

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WARRANTIES, STATUTORY, EXPRESS OR IMPLIED, OR ARISING FROM A COURSE OF DEALING OR USAGE OF TRADE, WITH REGARD TO THE ENABLING TECHNOLOGY, KNOW-HOW,
MATERIALS, IMPROVEMENTS, PRODUCTS AND/OR THE PRODUCT TECHNOLOGY, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS OF A THIRD PARTY. 

7.5 Limitation of Liability. NEITHER PARTY SHALL BE LIABLE FOR ANY LOST REVENUES OR PROFITS OF ANY PERSON OR ENTITY OR ANY OTHER INCIDENTAL,
SPECIAL, INDIRECT, OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. 
 8. RIGHT OF NEGOTIATION 
 8.1 Right of Negotiation. Codexis hereby grants to MUS until the
Separation Event a first right of negotiation with regard to any Enzyme Libraries and/or Products developed by Codexis or its Sublicensees as a result of the use or practice of the Enabling Technology and/or related Know-How that have application(s)
outside the Codexis Field. Until the Separation Event, Codexis shall notify MUS of such Enzyme Libraries and/or Products prior to their respective first commercial use or sale and, at the request of MUS, the Parties will negotiate in good faith the
terms of a license to MUS (or an entity that is then a MUS Affiliate) for the development and commercialization of such Enzyme Library or Product outside the Codexis Field. 
 8.2 No Agreement. Notwithstanding Section 8.1, if the Parties are unable to reach agreement on the terms of a license within one hundred
twenty (120) days of the commencement of such negotiations for the applicable Enzyme Library or Product, Codexis shall have no obligation to grant to MUS or any MUS Affiliate a license with regard to such Enzyme Library or Product. 

9. PATENT PROSECUTION 
 9.1
Enabling Technology. 
 9.1.1 Intent. The Parties recognize that it is their shared goal to obtain the broadest patent coverage
available with regard to the Enabling Technology, consistent with the goal of obtaining patents that are valid and enforceable as against Third Parties. The Parties recognize the value and importance of coordinating the Patent Prosecution (as
defined in Section 9.1.2) of Patent Applications and Patents within the Enabling Technology and of MUS’ knowledge, prior experience and expertise with the Patent Prosecution of the Enabling Technology. Codexis acknowledges that there will
be multiple licensees of the Enabling Technology and that MUS has the responsibility to determine how to best conduct Patent Prosecution of the Patents within the Enabling Technology for the benefit of all licensees, including Third Parties other
than Codexis, and Codexis further acknowledges that such responsibility may affect MUS’ determination whether to undertake a particular act or elect not to undertake any particular action in connection with the Patent Prosecution of a
particular Patent Application and/or Patent within the Enabling Technology in any particular instance. 
  

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 9.1.2 Rights. MUS (or its designee) shall have the right, but not the obligation, to prepare,
file and prosecute patent applications within the Enabling Technology and to conduct any interferences, oppositions, re-examinations, reissues or similar proceedings, with respect thereto, and to maintain any patents resulting from the foregoing
activities (“Patent Prosecution”). MUS shall keep Codexis reasonably informed with respect to such Patent Prosecution activities, and Codexis may consult with MUS and provide advice to MUS regarding such Patent Prosecution activities, but
MUS shall have the right to take such acts in connection therewith as MUS, in its sole discretion, deems appropriate. 
 9.1.3 Sharing of
Prosecution Costs. In partial consideration for the grant of the licenses granted in Section 2.1, Codexis shall pay to MUS amounts for Prosecution Costs incurred after the Effective Date in connection with the activities described in
Section 9.1.2 as set forth on Exhibit E hereto. 
 9.1.4 Opt Out by MUS. If MUS does not wish to conduct Patent
Prosecution with regard to any Patent Application or Patent within the Enabling Technology in a particular country, and believes that the conduct of such activities will not have a material adverse effect on other patent applications and/or patents
within the Enabling Technology, and no Third Party has the right to prosecute the applicable Patent Application or Patent, MUS shall notify Codexis (and any other licensees of such Patent Application or Patent) that Codexis (together with any other
interested licensees thereof) may conduct such Patent Prosecution, in MUS’ name. Within thirty (30) days after the date of such notice, Codexis shall notify MUS whether or not Codexis wishes to participate in the conduct of such Patent
Prosecution activities in the applicable country(ies) with regard to the applicable Patent Application or Patent. In such event, (i) the prosecuting entity(ies) (i.e., Codexis and any other interested licensees of the Enabling Technology) shall
keep MUS fully informed of all actions and decisions made in connection with such Patent Prosecution (including, without limitation, by promptly providing MUS with copies of all correspondence sent to or received from any patent office),
(ii) MUS shall have the right to consult and provide advice with respect to such Patent Prosecution activities, and (iii) Codexis and such other prosecuting entities shall be solely responsible for paying the Prosecution Costs for such
activities. It is understood and agreed that if MUS believes that the Patent Prosecution of a particular patent application or patent could have a material adverse effect on other patent applications or patents within the Enabling Technology (e.g.,
due to issues relating to double patenting) that MUS shall have the right to decline to allow Codexis and Third Parties to conduct Patent Prosecution with respect to the subject Patent Application or Patent. 
 9.1.5 Opt Out By Codexis. 
 (a) In
the event that Codexis does not wish to retain its license rights under this Agreement to any Patent Application or Patent within the Enabling Technology or Product Technology in any country, it shall have the right to terminate its license to such
Patent Application and/or Patent with one hundred and twenty (120) days prior written notice to MUS identifying the specific Patent Application(s) and/or Patent(s) (by country or, as 

  

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applicable, multinational jurisdiction) to which it wishes to relinquish its license. In any such event, as of the effective date of such termination,
Codexis’ license to the applicable Patent Applications and Patents shall terminate, shall not be entitled to further consultation and/or information rights as described in Sections 9.1.2 and 9.1.6, with regard to such Patent Applications and/or
Patents, and Codexis shall have no obligation to pay Prosecution Costs incurred after the effective date of termination with respect to the applicable Patent Application and/or Patent. Codexis shall remain obligated to pay its share of any Patent
Prosecution expenses incurred prior to the applicable effective date of termination. 
 (b) If MUS wishes to continue to conduct Patent
Prosecution with respect to any Patent Application or Patent to which Codexis has relinquished its rights pursuant to Section 9.1.5(a), MUS may do so, at its own expense and in its own name. In any such case, Codexis shall provide MUS with a
power of attorney to the extent necessary to conduct such activities. 
 9.1.6 Information. If Codexis conducts or otherwise
participates in any Patent Prosecution activities pursuant to Section 9.1.4, Codexis shall keep MUS fully informed as to the status of such patent matters, including, without limitation, by providing MUS a reasonable opportunity to review and
comment on any documents relating to the applicable Patent Application or Patent which will be filed in any patent office before such filing, and promptly providing to MUS copies of any material documents relating to applicable Patent Applications
or Patents which are received from such patent offices, including notice, without limitation, of all interferences, reissues, reexaminations, oppositions or requests for patent term extensions. 
 9.2 Product Technology. 
 9.2.1
Rights. Codexis shall have the initial right, but not the obligation, to conduct Patent Prosecution of Patent Applications and Patents within the Product Technology exclusively licensed to it, unless such Patent Applications and Patents claim
methods and/or compositions that have substantial, commercially valuable applications outside the Codexis Field, in which case, MUS shall have the initial right but not the obligation to conduct Patent Prosecution of such Patent Applications and
Patents. 
 9.2.2 Sharing of Prosecution Costs. Codexis shall be responsible for all Prosecution Costs in connection with Patent
Prosecution activities described in Section 9.2.1 conducted by or under authority of Codexis. If MUS conducts the Patent Prosecution activities described in Section 9.2.1 with regard to any Patent Applications and Patents that are Product
Technology, Codexis shall pay to MUS fifty percent (50%) of the Prosecution Costs incurred by MUS after the Effective Date in connection with such activities. Such amounts will be paid to MUS (or its designee) within forty-five (45) days
of an invoice therefore. 
 9.2.3 Opt Out. 
 (a) By MUS. If MUS has the right to conduct Patent Prosecution with regard to any Patent Application or Patent in any particular country or, if applicable, multinational jurisdiction, pursuant to this
Section 9.2, but does not wish to conduct 

  

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 21 

 
such activities with regard to any Patent Application or Patent within such country or multinational jurisdiction, as the case may be, it shall notify
Codexis (and any other licensees of such Patent Application or Patent), and subject to any Third Party right to prosecute the applicable Patent Application or Patent that was granted prior to the Effective Date, Codexis (and the other licensees) may
thereafter notify MUS that such entities wish to conduct such Patent Prosecution activities in the applicable country(ies) with regard to the applicable Patent Application or Patent in MUS’ name. In such event, (i) the prosecuting
entity(ies) shall keep MUS fully informed of all actions and decisions made in connection with such Patent Prosecution (including, without limitation, by promptly providing MUS with copies of all correspondence sent to or received from any patent
office), (ii) MUS shall have the right to consult and provide advice with respect to such Patent Prosecution activities, and Codexis and such Third Parties shall be solely responsible for paying the Prosecution Costs thereof. 
 (b) By Codexis. If Codexis has the right to conduct Patent Prosecution with regard to any Patent Application or Patent in any particular country
or, if applicable, multinational jurisdiction, pursuant to this Section 9.2, but does not wish to conduct such activities with regard to any Patent Application or Patent within such country or multinational jurisdiction, as the case may be, it
shall notify MUS (and any other licensees of such Patent Application or Patent), and subject to any Third Party right to prosecute the applicable Patent Application or Patent that was granted prior to the Effective Date, MUS (and the other
licensees) may thereafter notify Codexis that such entities wish to conduct such Patent Prosecution activities in the applicable country(ies) with regard to the applicable Patent Application or Patent, and MUS and such Third Parties shall be solely
responsible for paying the Prosecution Costs thereof. In such event, Codexis shall have no further license rights under this Agreement with regard to the applicable Patent Applications and/or Patents, shall not be entitled to further consultation
and/or information rights as described in Section 9.2.4, with regard to such Patent Applications and/or Patents, and shall have no obligation to pay Prosecution Costs incurred after the effective date of termination with respect to the
applicable Patent Application and/or Patent. Codexis shall remain obligated to pay its share of any Patent Prosecution expenses incurred prior to the applicable effective date of termination. 
 9.2.4 Information. The Party conducting Patent Prosecution activities pursuant to this Section 9.2 shall keep the other Party fully informed
as to the status of such patent matters, including, without limitation, by providing the other Party a reasonable opportunity, to review and comment on any documents relating to the applicable Patent Application or Patent which will be filed in any
patent office before such filing, and promptly providing the other Party copies of any material documents relating to applicable Patent Applications or Patents which the Party conducting such activities receives from such patent offices, including
notice, without limitation, of all interferences, reissues, reexaminations, oppositions or requests for patent term extensions. 
 9.3
Payments; Interest. All payments due to MUS under this Article 9 shall be paid in U.S. dollars by wire transfer in immediately available funds to a bank account designated by MUS. Any payment or portion thereof that is not paid on the date
such payments are due under this Agreement shall bear interest at the lesser of (i) the prime rate as reported by the J.P. Morgan Chase & Co., New York, New York (or its successor) on the date such payment is due, plus an additional
two percent (2%), or (ii) the maximum rate permitted by law, in each 

  

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case, per annum calculated from the first date such payment is delinquent to the date such payment is actually made. This Section 9.3 shall in no way
limit any other remedies available for late payment. 
 9.4 Jointly Owned Patent Applications and Patents. 
 9.4.1 Joint Activities. If any invention is jointly owned by the Parties (each a “Joint Invention”), the Parties will (except as the
Parties may otherwise agree in writing) cooperate to file, prosecute and maintain Patent Applications covering invention(s) jointly owned by the Parties in the United States, the United Kingdom, France and Germany (e.g., through a European Patent
Convention application) and Japan (collectively, the “Core Countries”) and other countries or multinational jurisdictions agreed upon in writing by the Parties. The Parties shall agree which Party shall be responsible for conducting such
activities with respect to a particular Joint Invention. The Party conducting such activities shall keep the other Party fully informed as to the status of such patent matters, including, without limitation, by providing the other Party a reasonable
opportunity, to review and comment on any documents relating to the Joint Invention which will be filed in any patent office before such filing, and promptly providing the other Party copies of any material documents relating to Joint Invention
which the Party conducting such activities receives from such patent offices, including notice, without limitation, of all interferences, reissues, reexaminations, oppositions or requests for patent term extensions. Subject to Sections 9.4.2, the
Parties will share equally all expenses and fees associated with the filing, prosecution, issuance and maintenance of any Patent Application and resulting Patent for a Joint Invention in the Core Countries and other agreed countries or multinational
jurisdictions. 
 9.4.2 Opt Out. In the event that either Party wishes to seek Patent protection with respect to any Joint Invention
outside the Core Countries, it shall notify the other Party hereto. If both Parties wish to seek Patent protection with respect to such Joint Invention in such country or countries, activities shall be subject to Section 9.4.1. If only one
Party wishes to seek Patent protection with respect to such Joint Invention in such country or countries, it may conduct Patent Prosecution activities with respect to such Patent Applications and Patents, at its own expense and in its own name. In
any such case, the Party declining to participate in such Patent Prosecution activities shall provide the Party that is conducting such activities with a power of attorney to the extent necessary to conduct such activities. 
 9.5 Improvements. With regard to any Patent Application claiming one or more Improvements, the owner(s) of such Patent Application (or its
designee) shall have the exclusive right, but not the obligation, to conduct Patent Prosecution of Patent Applications and Patents, as such owner(s) deem appropriate, at its (their) sole expense, unless such Patent Application claims a Joint
Invention, in which event it shall be subject to Section 9.4. 
 9.6 Separation Event. Within sixty (60) days following the
Separation Event, MUS shall provide to Codexis with a written list of all Patent Applications and Patents within the Enabling Technology as of the Separation Event, and Codexis shall provide to MUS a written list of all Patent Applications and
Patents within the Codexis Improvements as of the Separation Event. Within thirty (30) days following each of the first three (3) annual anniversaries of the Separation Event, Codexis shall update its written list of Patent Applications
and Patents within the Codexis Improvements. 
  

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 9.7 Common Interest. MUS and Codexis acknowledge that in the course of conducting the activities
described in Articles 9 and 10 of this Agreement, the Parties may discuss information related to Patent Applications and Patents and other intellectual property rights of the Parties and their Affiliates and/or of Third Parties, and/or conduct by
Third Parties that may constitute infringement of one or more of the patents licensed under this Agreement, and the Parties may wish to review documents and information of the other Party that is protected by the attorney-client privilege and/or the
attorney work-product doctrine, and agree that disclosure of such documents and information, in confidence, will further the mutual interests of the Parties. Accordingly, the Parties agree that a community of interest exists between MUS and Codexis
as to these matters and therefore the disclosure of privileged information in the conduct of activities pursuant to Articles 9 and 10 of this Agreement shall not constitute a waiver of any such privilege. Each Party will treat all such information
received from the other Party under this Agreement that is marked, by the Party to which the privilege runs, as “Confidential” or “Privileged” or “Attorney Work Product,” or in a similar manner to reasonably indicate
its protected and confidential nature, and will take precautions to preserve the confidentiality and privilege of said information as if it were its own privileged information or attorney work product. 
 10. PATENT ENFORCEMENT ACTIONS 
 10.1
Infringement. If Codexis becomes aware of any actual or potential infringement of any Enabling Technology or Product Technology, or if MUS becomes aware of any actual or potential infringement of any Enabling Technology or Product Technology
in the Codexis Field or any declaratory judgment action or similar proceeding with respect to any Patent within the Enabling Technology or Product Technology, then such Party shall promptly notify the other Party in writing of such actual or
potential infringement or proceeding, providing an explanation of the basis of its conclusion. 
 10.2 Enabling Technology.

 10.2.1 Intent. The Parties recognize that it is their shared goal to maintain the broadest patent coverage available with regard to
the Enabling Technology, consistent with the goal of obtaining patents that are valid and enforceable as against Third Parties. The Parties recognize the value and importance of coordinating the enforcement of Patent Applications and Patents within
the Enabling Technology and of MUS’ knowledge, prior experience and expertise with the Patent Prosecution and enforcement of Patent Rights. Codexis hereby acknowledges that there will be multiple licensees of the Enabling Technology and that
MUS has the responsibility to determine how to best enforce and defend the Patents within the Enabling Technology for the benefit of all licensees, including Third Parties other than Codexis, and Codexis further acknowledges that such responsibility
may affect MUS’ determination whether to enforce particular Patent Applications and Patents within the Enabling Technology in any particular instance. 
  

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 10.2.2 MUS. As between MUS and Codexis, MUS shall have the initial right, but not the obligation,
to enforce and/or defend in any declaratory judgment or similar action, the Patents within Enabling Technology both in and outside of the Codexis Field, except as provided in Section 10.4. Codexis acknowledges that (i) certain patents
within the Enabling Technology are and will be owned by Third Parties and, that in some cases, such Third Parties may have retained or may retain the first right, or the sole right to enforce such patents, and (ii) prior to the Effective Date,
MUS has granted to Third Parties rights to conduct or participate in the enforcement and/or defense of Patent Applications and/or Patents within the Enabling Technology owned by MUS. In connection with any action brought or defended by MUS pursuant
to this Section 10.2.2, MUS shall be responsible for its costs incurred in connection with such actions or proceedings and may retain any recovery obtained in connection therewith. 
 10.2.3 Codexis. If MUS elects not to pursue an infringement by any Third Party with respect to a patent within the Enabling Technology, and
Codexis believes that such infringement would have a material adverse impact on Codexis’ exercise of its rights or practice of its license in the Codexis Field, Codexis may, with notice to MUS, request the right to enforce specific patents
within the Enabling Technology against such infringement. Any such request shall contain a detailed factual explanation of (i) the specific patent(s) it believes are/have been infringed, (ii) the basis for its belief that infringement has
occurred, and (iii) the material adverse impact(s) that it believes such infringement will/has caused Codexis. MUS shall have one hundred and eighty (180) days from its receipt of the foregoing explanation (and such other information as
MUS may reasonably request) to notify Codexis whether it intends to commence an enforcement action against such Third Party. Codexis shall have the right (subject to the consent of owner of the applicable patents if these are not owned by MUS, and
subject to any rights granted to a Third Party prior to the Effective Date) to enforce the relevant patents within the Enabling Technology against the Third Party identified by Codexis in the Codexis Field, unless within such one hundred and eighty
(180) day period, (A) MUS initiates and diligently pursues steps to abate the alleged such infringement, or (B) MUS notifies Codexis that MUS believes that such enforcement may have a material adverse impact on MUS or one or more
other licensees of the Enabling Technology, or (C) MUS notifies Codexis that it disagrees with Codexis’ factual conclusions provided in its notice described above, in which event the matter shall be submitted to a neutral expert for prompt
determination, with the expenses of such neutral assessment being shared equally by MUS and Codexis. In the event that Codexis enforces the applicable patent, MUS agrees to cooperate in connection with such action, including by joinder as a party,
if required by applicable law. If Codexis enforces the applicable patent, then Codexis shall pay all costs of conducting any such action, and any recovery shall be allocated as agreed by the Parties. 
 10.3 Product Technology. 
 10.3.1
Infringement in the Codexis Field. 
 (a) So long as it retains an exclusive license to the applicable Patent within the Product
Technology and such Patent has applications only in the Codexis Field, Codexis shall have the first right but not the obligation to enforce Patents within the Product Technology against any infringements by Third Parties in the Codexis Field and

  

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defend any declaratory judgment action. If Codexis fails to initiate a suit to enforce such patent in any jurisdiction against a commercially significant
infringement in the Codexis Field within one (1) year of a request by MUS to do so, MUS may initiate suit against such infringement, at its expense. In such event, Codexis agrees to join in such action, if required by applicable law.

 (b) If Codexis does not have an exclusive license to the applicable Patent, and/or if such Patent claims inventions having one or more
applications outside the Codexis Field, then MUS shall have the first right, but not the obligation, to enforce patents within the Product Technology against any infringements by Third Parties in the Codexis Field and defend any declaratory judgment
action with respect thereto. If MUS fails to initiate a suit to enforce such patent in any jurisdiction against a commercially significant infringement in the MUS Field within one (1) year of a request by Codexis to do so, Codexis may initiate
suit against such infringement, at its expense. In such event, MUS agrees to join in such action, if required by applicable law. 
 (c)
Notwithstanding Section 10.3.1(b), Codexis acknowledges that (i) certain patents within the Product Technology are and will be owned by Third Parties and, that in some cases, such Third Parties may have retained or may retain the first
right, or the sole right to enforce such patents, and (ii) prior to the Effective Date, MUS has granted to Third Parties rights to conduct or participate in the enforcement and/or defense of Patent Applications and/or Patents within the Product
Technology owned by MUS. 
 10.3.2 Infringement Outside the Codexis Field. MUS (or its designee) shall have the right but not the
obligation to pursue infringement of Patents within the Product Technology outside the Codexis Field, but shall consult with Codexis before commencing any such suit. 
 10.3.3 Recoveries. Any recovery by such Party received as a result of any such claim, suit or proceeding brought pursuant to this Section 10.3 shall be used first to reimburse the Party(ies) for all
expenses (including attorneys and professional fees) incurred in connection with such claim, suit or proceeding. The remainder shall be divided as follows: (a) in any suit relating primarily to infringement in the Codexis Field, seventy percent
(70%) to the Party initiating the suit, and thirty percent (30%) to the other Party, and (b) in any suit primarily relating to infringement outside the Codexis Field, as may be agreed by the Parties in writing. 
 10.4 Jointly Owned Technology. In the event that any patent that is jointly owned by MUS and Codexis is infringed by a Third Party, Codexis and
MUS shall discuss whether, and, if so, how, to enforce or defend such jointly owned Patent in an infringement action, declaratory judgment or other proceeding. In the event only one Party wishes to participate in such proceeding, it shall have the
right to proceed alone, at its expense, and may retain any recovery. 
 10.5 Improvements. The owner of any Patent claiming an
Improvement (or its designee) shall have the exclusive right, but not the obligation, to defend and enforce such Patent, at its expense, except as the Parties may otherwise agree in writing. 
  

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 10.6 General. 
 10.6.1 Cooperation. In connection with any such claim, suit or proceeding subject to Sections 10.2, 10.3 and/or 10.4, the Parties shall cooperate with each other and shall keep each other reasonably informed of
all material developments in connection with any such claim, suit or proceeding. At the request and expense of the Party initiating any such claim, suit or proceeding, the other Party agrees to cooperate and join in any such claim, suit or
proceeding in the event that under applicable law the other Party is necessary or indispensable to such proceedings or such joinder of such Party is otherwise required by applicable law; provided, however, MUS shall not be obligated to participate
as a party or otherwise in any proceeding in which MUS would be in an adversarial relationship with any Maxygen Affiliate or another entity which is a licensee of the Enabling Technology. 
 10.6.2 Settlements; Admissions. Neither Party shall enter into any settlement agreement with any Third Party that would conflict with rights
granted to the other Party under this Agreement without the prior written consent of such affected Party, which consent shall not be unreasonably withheld. Neither Party shall enter into any agreement that makes any admission regarding
(i) wrongdoing on the part of the other Party, or (ii) the validity/invalidity, enforceability/unenforceability or infringement/absence of infringement of any Patents licensed hereunder, without the prior written consent of the other
Party, which consent shall not be unreasonably withheld. 
 10.7 Infringement Claims. 
 10.7.1 Notice; Cooperation. If any claim, suit or proceeding is commenced alleging patent infringement against MUS or Codexis due to the
manufacture, use, sale, offer for sale or importation of a Product or provision of a Service, such Party shall promptly notify the other Party hereto. The Parties shall cooperate reasonably with each other in connection with any such claim, suit or
proceeding and shall keep each other reasonably informed of all material developments in connection with any such claim, suit or proceeding. 
 10.7.2 MUS Responsibility. If such claim, suit or proceeding subject to this Section 10.7 is based solely on an allegation that the practice of the Enabling Technology infringed a patent owned by a Third Party, then MUS shall
have the right and responsibility to conduct the defense of such action, and shall pay the costs of defense of any such action, unless Codexis knew or should have known (through the conduct of reasonable patent and/or literature searches and/or
other customary inquiries) of the existence of the enforced Third Party patent prior to the conduct of the allegedly infringing acts. 
 10.7.3 Codexis Responsibility. If any claim, suit or proceeding subject to this Section 10.7 is not based solely on an allegation that the practice of the Enabling Technology infringed a patent owned by a Third Party, then
Codexis shall have the right and responsibility to conduct the defense of such action, and shall pay the costs of defense of any such action. 
  

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Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 27 

 11. INDEMNIFICATION 
 11.1 Indemnification by Codexis. 
 11.1.1 Indemnity Obligation. Codexis agrees to indemnify
and hold harmless MUS, and its Affiliates (and with respect to Enabling Technology licensed to MUS by a Third Party, such Third Party) and their respective officers, directors, employees and agents (each a “MUS Indemnitee”) from and
against all actions, claims, losses, liabilities, costs and expenses (including, without limitation, reasonable attorneys’ and expert fees and costs of litigation) and/or judgments finally awarded and/or entered by a court of competent
jurisdiction and/or any amounts paid in settlement that any MUS Indemnitee may suffer as a result of any Third Party claims, demands, actions or other proceedings arising out of or in connection with: (i) any practice by Codexis or its
Sublicensees of the licenses and rights granted herein to Codexis to the Enabling Technology, Product Technology, Know-How and/or Materials, except as expressly set forth in Section 10.7.2; and/or (ii) any breach of Codexis’
representations and warranties in Section 7.2; and/or (iii) any acts (whether of omission or commission) by Codexis and/or its Sublicensees, relating to the development, manufacture, importation, use, offer for sale, sale and/or other
commercial exploitation of any products or services (including, without limitation, Products or Services), including, without limitation, product liability and environmental claims, except, in each case, to the extent due to the negligence or
willful misconduct of MUS. 
 11.1.2 Procedure. If MUS intends to claim indemnification under Section 11.1.1, MUS shall promptly
notify Codexis in writing of any claim in respect of any MUS Indemnitee for indemnification, and, except as otherwise expressly provided in this Agreement, Codexis shall have control of the defense and/or settlement thereof using counsel reasonably
acceptable to MUS. However, if MUS believes that due to potential conflicts of interest between MUS and Codexis representation of MUS by Codexis’ counsel would be inappropriate (e.g., due to issues relating to the field or scope of the rights
licensed to Codexis in this Agreement, and rights licensed to another entity), MUS may select separate counsel and Codexis shall be responsible for the costs of such representation of MUS. Under all other circumstances, MUS may, in its sole
discretion, participate in any such proceeding with separate counsel of its choice, at its own expense. The foregoing indemnity obligation shall not apply to amounts paid by MUS in settlement of any claim if such settlement is effected by MUS
without the consent of Codexis, which consent shall not be withheld unreasonably. At Codexis’ request and expense, MUS and its employees and agents shall provide reasonable cooperation to Codexis and its legal representatives in the
investigation of and preparation for the defense against any action, claim or liability covered by this indemnification. The Indemnitor shall not enter into any settlement or consent to an adverse judgment in any such claim, demand, action or other
proceeding that admits wrongdoing on the part of the other Party or its officers, directors, employees and agents, or which imposes additional obligations on the other Party, without the prior express written consent of the other Party, which
consent shall not be unreasonably withheld or delayed. 
 11.2 Indemnification by MUS. 
 11.2.1 Indemnity_Obligation. MUS agrees to indemnify and hold harmless Codexis, and its Affiliates and their respective officers, directors,
employees and agents (each a “Codexis Indemnitee”) from and against all actions, claims, losses, liabilities, costs and 

  

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Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 28 

 
expenses (including, without limitation, reasonable attorneys’ and expert fees and costs of litigation) and/or judgments finally awarded and/or entered
by a court of competent jurisdiction and/or any amounts paid in settlement that any Codexis Indemnitee may suffer as a result of any Third Party claims, demands, actions or other proceedings arising out of or in connection with: (i) any
practice by Codexis or its licensees of the licenses and rights granted herein to Codexis with regard to the Enabling Technology, to the extent set forth in Section 10.7.2; and/or (ii) any breach of MUS’ representations and warranties
in Section 7.1, and/or (iii) any practice by MUS of the licenses and rights granted MUS to the Codexis Improvements and Assigned Patents, except, in each case, to the extent due to the negligence or willful misconduct of Codexis.

 11.2.2 Procedure. If Codexis intends to claim indemnification under Section 11.2.1, Codexis shall promptly notify MUS in
writing of any claim in respect of any Codexis Indemnitee claim for such indemnification, and, except as otherwise expressly provided in this Agreement, MUS shall have control of the defense and/or settlement thereof using counsel reasonably
acceptable to Codexis. Under all other circumstances, Codexis may, in its sole discretion, participate in any such proceeding with separate counsel of its choice, at its own expense. The foregoing indemnity obligation shall not apply to amounts paid
by Codexis in settlement of any claim if such settlement is effected by Codexis without the consent of MUS, which consent shall not be withheld unreasonably. At MUS’ request and expense, Codexis and its employees and agents shall provide
reasonable cooperation to MUS and its legal representatives in the investigation of and preparation for the defense against any action, claim or liability covered by this indemnification. The Indemnitor shall not enter into any settlement or consent
to an adverse judgment in any such claim, demand, action or other proceeding that admits wrongdoing on the part of the other Party or its officers, directors, employees and agents, or which imposes additional obligations on the other Party, without
the prior express written consent of the other Party, which consent shall not be unreasonably withheld or delayed. 
 12. TERMINATION 

 12.1 Term. This Agreement shall be effective as of the Effective Date and, unless terminated earlier as provided in this Article 12
or as otherwise agreed by the Parties in writing, shall remain in force and effect until the expiration of the last to expire patent within the Enabling Technology and/or the Product Technology. Thereafter, Codexis shall retain a non-exclusive,
royalty-free license to the Know-How and Materials transferred by MUS to Codexis for fifty (50) years following the termination or expiration of this Agreement. 
 12.2 Termination on Business Cessession. Prior to the Separation Event, (i) in the event of a dissolution or liquidation of Codexis, (ii) upon the institution by Codexis of insolvency, receivership or
bankruptcy proceedings or any other proceedings for the settlement of debts, (ii) upon the institution of such proceedings against Codexis, which are not dismissed without prejudice or otherwise resolved in Codexis’ favor within sixty
(60) days thereafter, (upon Codexis’ making a general assignment for the benefit of its creditors, or (iv) in the event that a substantial portion of Codexis’ assets or the conduct of Codexis’ business shall be substantially
encumbered by extraordinary governmental action or by operation of law, MUS may in any of the foregoing circumstances, at its option and in its sole discretion, terminate this Agreement, effective immediately upon giving written notice of
termination to Codexis. 
  

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Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 29 

 12.3 Termination for Failure to Pay Patent Prosecution Expenses. If Codexis fails to timely pay
amounts due with respect to Patent Prosecution of any particular Patent Application or Patent owned by MUS more than three times in any three (3) year period, MUS shall have the right with one hundred and eighty (180) days notice to
Codexis, to terminate Codexis’ license to such Patent Application or Patent (the “Subject Patent Application or Patent”) and all other Patent Applications and Patents licensed to Codexis hereunder in the same Patent family (i.e., that
claim filing priority to the same Patent Application(s) or Patent(s) as the Subject Patent Application or Patent). 
 12.4 Breach of a
Third Party Agreement. If Codexis breaches the terms of any Third Party agreement pursuant to which it has license or sublicense rights hereunder, whether by failure to timely pay amounts due under such agreement or otherwise, and after notice
from the licensor or MUS of such breach fails to cure such breach within the period for cure provided in the applicable agreement, then MUS shall have the right with thirty (30) days notice to Codexis, to terminate Codexis’ license or
sublicense, as the case may be, granted hereunder to all Patent Applications and Patents, Know-How and/or Materials covered by such agreement. 
 12.5 Effect of Termination. 
 12.5.1 Rights and Obligations. Termination of this Agreement for any reason shall not
release any Party hereto from any liability that, at the time of such termination, has already accrued or that is attributable to a period prior to such termination nor preclude either Party from pursuing all rights and remedies it may have
hereunder or at law or in equity with respect to any breach of this Agreement. 
 12.5.2 Licenses. In the event of any termination of
this Agreement pursuant to Section 12.2, Codexis’ license(s) shall terminate concurrently. 
 12.6 Survival. The provisions
of Sections 2.5, 2.6, 2.7, 2.11, 3.1, 3.2, 3.3, 7.5, 9.4, 10.7, 12.5 and 12.6, and Articles 4, 6, 11, 13 and 14 shall survive the expiration or termination of this Agreement for any reason. 
 13. DISPUTE RESOLUTION 
 13.1
Mediation. If a dispute arises out of or relates to this Agreement, or the breach thereof, and if the dispute cannot be settled through negotiation, the Parties agree first to try in good faith to settle the dispute by mediation before
resorting legal action. 
 13.2 Jurisdiction; Venue. All disputes arising out of this Agreement (except any dispute relating to the
infringement, validity or enforceability of any patent subject to this Agreement) shall be subject to the exclusive jurisdiction and venue of the California state courts of San Mateo County (or, if there is federal jurisdiction, the United States
District Court for the Northern District of California), and the Parties hereby irrevocably consent to the personal jurisdiction of and venue in such courts. 
 13.3 Legal Expenses. The prevailing Party (if any is determined by the finder of fact) in any legal action brought by one Party against the other shall be entitled, in addition to any other rights and remedies
it may have, to reimbursement for its expenses incurred thereby, including court costs and reasonable attorneys’ and expert fees and expenses. 
  

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Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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 14. MISCELLANEOUS 
 14.1 Governing Law. This Agreement (and any dispute relating to its construction, performance and/or breach) shall be governed by the laws of the State of California, without reference to conflicts of laws
principles of that State or of any other jurisdiction. 
 14.2 Notices. Any notice provided under this Agreement by one Party to the
other Party shall be in writing and shall be deemed to have been effectively given (i) upon receipt when delivered personally, (ii) one day after sending when sent by internationally recognized express mail service (such as Federal Express
or DHL), or (iii) five (5) days after sending when sent by regular mail, and in each case sent to the other Party at its address indicated below: 
  

			
	In the case of MUS:
		
		  	 Maxygen, Inc.

		  	 515 Galveston Drive

		  	 Redwood City, CA 94063

		  	 Attn: General Counsel

	
	 In the case of Codexis:

		
		  	 Codexis, Inc.

		  	 515 Galveston Drive

		  	 Redwood City, CA 94063

		  	 Attn: President

 or to such other address as MUS or Codexis shall have last designated to the other by written notice in accordance
with this Section 14.2. 
 14.3 Independent Contractors. This Agreement does not create or imply a principal agent, employer,
employee, partnership, joint venture, or any other relationship except that of independent contractors between the Parties, and neither Party shall have any right, power or authority to create any obligation, express or implied, on behalf of the
other in connection with the performance hereunder. 
 14.4 Non-Waiver. The failure or delay of either Party at any time to require
performance by the other Party of any provision hereof shall not affect in any way, or act as a waiver of, the right to require such other Party to perform in accordance with this Agreement at any other time, nor shall the waiver of either Party of
a breach of a provision of this Agreement be held or taken to be a waiver of the provision itself or any previous or subsequent breach thereof. No waiver shall be binding unless in writing. 
  

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Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 31 

 14.5 Severability: Partial Invalidity. If any provision of this Agreement is held to be invalid
in whole or in part by a court of competent jurisdiction, then the remaining provisions shall remain, nevertheless, in full force and effect. The Parties agree to renegotiate in good faith any provision held invalid and to be bound by the mutually
agreed substitute provision in order to give the most approximate effect originally intended by the Parties. 
 14.6 Assignment.
Prior to a Separation Event, Codexis may not assign this Agreement or any of its rights nor delegate or transfer any of its obligations hereunder without the prior express written consent of MUS, which consent MUS shall not be obligated to give.
After a Separation Event, Codexis may upon notice to MUS assign this Agreement to a Third Party in connection with a merger, sale of all or substantially all of its assets, or other corporate reorganization of Codexis. MUS may assign this Agreement
and its rights and obligations under this Agreement, without restriction. Any purported assignment not expressly permitted by this Section 14.6 shall be null and void. Subject to the above restrictions, this Agreement shall inure to the benefit
of and bind the successors and assigns of the Parties. 
 14.7 Export Control. In exercising its rights under this Agreement, each
Party agrees to comply strictly and fully with all export controls imposed, by any country or organization or nations within whose jurisdiction the Party operates or does business. Each Party agrees not to export or permit exportation of any
software products or any related technical data or any direct product of any related technical data, related to or serving as a component of the Products, without complying with the export control laws in the relevant jurisdiction. In particular,
the Parties acknowledge that they are subject to United States laws and regulations controlling the export of products or technical information. Codexis agrees that it will not export, directly or indirectly, any technical information acquired under
this Agreement or any Products using such technical information to any country for which the United States government or agency thereof at the time of export requires an export license or other governmental approval, without first obtaining the
written consent to do so from the Department of Commerce or other agency of the United States government when required by an applicable statute or regulation. 
 14.8 Further Assurances. At any time or from time to time on and after the date of this Agreement, either Party shall at the request of the other Party (i) deliver to the requesting Party such records,
data or other documents consistent with the provisions of this Agreement, (ii) execute, and deliver or cause to be delivered, all such consents, documents or further instruments of assignment, transfer or license, and (iii) take or cause
to be taken all such actions, as the requesting Party may reasonably deem necessary or desirable in order for the requesting Party to obtain the full benefits of this Agreement and the transactions contemplated hereby. 
 14.9 Force Maieure. Neither Party shall lose any rights hereunder or be liable to the other Party for damages or losses (except for payment
obligations) on account of failure of performance by the defaulting Party if the failure is occasioned by war, strike, fire, act of terrorism, Act of God, earthquake, flood, lockout, embargo, governmental acts or orders or restrictions, failure of
suppliers (including, without limitation, energy suppliers), or any other reason where failure to perform is beyond the reasonable control and not caused by the negligence, intentional conduct or misconduct of the nonperforming Party and the
nonperforming Party has exerted reasonable efforts to avoid or remedy such force majeure; provided, however, that in no event shall a Party be required to settle any labor dispute or disturbance. 
  

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Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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 14.10 No Implied Rights. Only the rights granted pursuant to the express terms of this Agreement
shall be of any legal force or effect. No other rights shall be created by implication, estoppel or otherwise. 
 14.11 No Third Party
Rights. This Agreement has been entered for the benefit of the Parties and, except as expressly set forth herein or as otherwise may be agreed in writing by the Parties, is not intended to benefit any Third Party. 
 14.12 Entire Agreement; Modification. This Agreement, including its Exhibits which are incorporated by reference herein, together with the
Services Agreement, Patent Assignment Agreement, Trademark Agreement and Stock Issuance and Asset Contribution Agreement, contains the Parties’ entire understanding with respect to the subject matter hereof. There are no promises, covenants or
undertakings, oral or written, other than those set forth herein with respect to the subject matter hereof, and neither Party is relying upon any representations or warranties except as set forth herein. This Agreement may not be modified except by
a writing signed by both Parties. 
 14.13 Headings. The captions to the several Sections and Articles hereof are not a part of this
Agreement, but are included merely for convenience of reference only and shall not affect its meaning or interpretation. 
 IN WITNESS
WHEREOF, the Parties have executed this Agreement as of the Effective Date. 
  

									
	MAXYGEN, INC.	 		 	CODEXIS, INC.
					
	By:	 	 /s/ Russell J. Howard
	 		 	By:	 	 /s/ Alan Shaw

					
	Name:	 	 Russell J. Howard
	 		 	Name:	 	 Alan Shaw

					
	Title:	 	 CEO
	 		 	Title:	 	 President

  

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Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 33 

 EXHIBIT A 
 DETECTION AND RESEARCH REAGENT FIELD 
 “Detection and Research Reagent Field” means making, having made, using, and selling of reagents, instruments, and services for the diagnostics and research supply markets, only as follows:
(1) clinical and diagnostic tests, including those conducted to identify genetic disease predisposition, genetic or other disease conditions, and infectious or pathogenic agents, as well as those conducted for other medical, agricultural or
veterinary purposes; (2) tests for analytical/bioanalytical purposes, including those conducted for biomedical, chemical, or medical research or treatment purposes, for environmental purposes, and for forensic purposes, including paternity,
maternity, or identity tests; and (3) sequencing and sequence analysis of nucleic acids or other biological polymers for any purpose. 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT B 
 ENABLING TECHNOLOGY 
 [*] 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT C 
 EXCLUDED TECHNOLOGY 
 [*] 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT D 
 CODEXIS PRODUCT TECHNOLOGY 
 [*] 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT E 
 PROSECUTION COSTS FOR ENABLING TECHNOLOGY 
 In partial consideration for the grant of the licenses granted in Section 2.1 of the Agreement, Codexis shall pay to MUS twenty percent (20%) of the Prosecution Costs incurred after the Effective Date with regard to Enabling
Technology. However, during the period until the fourth anniversary of the Effective Date, such payments to MUS shall not exceed the amounts below: 
  

				
	 	  	Maximum Prosecution
Costs for Enabling
Technology
for
Enabling
Technologv
	 First 12 months after Effective Date
	  	$	575,000
	 Next 12 months after Effective Date
	  	$	625,000
	 Next 12 months after Effective Date
	  	$	675,000
	 Next 12 months after Effective Date
	  	$	750,000

 The applicable amounts will be paid to MUS (or its designee) within forty-five (45) days of an invoice
therefor. 
 Prior to the fourth anniversary of the Effective Date, Codexis and MUS shall negotiate and agree in writing on the amounts Codexis will pay to
MUS for Prosecution Costs with regard to the Enabling Technology after the fourth anniversary of the Effective Date. However, unless otherwise agreed by Codexis and MUS, in any calendar year such payments shall not exceed the aggregate amount due to
MUS for Prosecution Costs for Enabling Technology for the 12 month period from the third anniversary of the Effective Date until the fourth anniversary of the Effective Date. 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions.

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