Document:

Technology License, Development, Research and Collaboration Agreement

 Exhibit 10.46 

CONFIDENTIAL TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS 

DOCUMENT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR 

CONFIDENTIAL TREATMENT AND, WHERE APPLICABLE, HAVE BEEN MARKED 

WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE 

CONFIDENTIAL MATERIAL HAS BEEN FILED SEPARATELY WITH 

THE SECURITIES AND EXCHANGE COMMISSION. 

TECHNOLOGY LICENSE, DEVELOPMENT, RESEARCH AND 

COLLABORATION AGREEMENT 

THIS TECHNOLOGY LICENSE, DEVELOPMENT, RESEARCH AND
COLLABORATION AGREEMENT (this “Agreement”) is made and entered into as of June 21, 2010 (the “Effective Date”) by and between AMYRIS, INC., a Delaware corporation having
an office at 5885 Hollis Street, Emeryville, California 94608, United States of America (“AMYRIS”), and TOTAL GAS & POWER USA BIOTECH, INC., a corporation
organized under the laws of Delaware having offices at 1201 Louisiana, Suite 1600, Houston, Texas 77002, United States of America (“TOTAL”). AMYRIS and TOTAL may each be referred to herein individually as a
“Party,” and collectively as the “Parties.” 
 RECITALS 

 WHEREAS, AMYRIS has proprietary technology and intellectual property rights relating to
synthetic biology (including tools) to make genetically modified microrganisms and using such modified microorganisms to make compounds; and is engaged in the research and development of related products; 

WHEREAS, TOTAL has proprietary technology and intellectual property rights relating to energy,
specialty fluids, chemicals and fuels and related industrialization expertise; and is engaged in the research and development of related products; and 

WHEREAS, TOTAL and AMYRIS desire to enter into a technology license, research, development,
commercialization and collaboration relationship under the terms and conditions set forth in this Agreement. 

NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants
contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 

AGREEMENT 

1.        DEFINITIONS 

1.1      “Affiliate” means, with respect to a Party, any Person that
controls, is controlled by or is under common control with such Party. A Person shall be regarded as being in control of another Person if it controls, directly or indirectly, 50% or more of the voting rights to elect

  

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directors, or if the Person is not a corporation, the corresponding managing authority; provided that in jurisdictions where applicable law does not permit 50% control, the maximum percentage of
control permitted by the applicable Person. For purposes of this Agreement, no JV Company shall be considered an Affiliate of either Party. 

1.2      “AMYRIS Background IP” means any and all Inventions (including
notably AMYRIS’ industrial synthetic biology platform), in each case that are Controlled by AMYRIS or its Affiliates prior to the Effective Date and that are related to or useful for the R&D Collaboration or for the purposes of the
production and commercialization of Products as permitted under this Agreement. 

1.3      “AMYRIS FTE Rate” means the Full-Time Equivalent rate per year
for AMYRIS’ employees working on R&D Activities within the R&D Collaboration. Such AMYRIS FTE Rate shall be as set forth in Exhibit E per year for 2010 and 2011, unless otherwise agreed to in writing by the Parties. Beginning in
2012, the AMYRIS FTE Rate shall be adjusted annually as agreed to in writing by the Parties. 

1.4      “AMYRIS Included IP” means AMYRIS Non-Collaboration IP that is
introduced and accepted into the R&D Collaboration as stipulated in Section 6.1(c) hereunder. 

1.5      “AMYRIS Indemnitees” has the meaning set forth in
Section 11.1. 
 1.6      “AMYRIS Laboratory Facilities”
means AMYRIS synthetic biology and scale-up laboratories and equipment located in Emeryville, California (United States) and in Campinas, Sao Paulo (Brazil), including equipment to be purchased during the term of the R&D Collaboration as and
when mutually decided by the Parties (as stipulated herein). 

1.7      “AMYRIS Laboratory Resources” means the AMYRIS Laboratory
Facilities and AMYRIS’ scientific and technical personnel. 

1.8      “AMYRIS Non-Collaboration IP” means any and all Inventions, in
each case that are both (i) Controlled by AMYRIS or its Affiliates, and (ii) conceived and reduced to practice on or after the Effective Date by any employee, agent or Third Party contractor of AMYRIS or any of its Affiliates, solely or
jointly with any Third Party other than (a) in the performance of the R&D Activities within and during the term of the R&D Collaboration (including in the performance of research and development activities under the TOTAL R&D
Option), or (b) during the performance of activities on behalf of the JV Company related to a Product. For the avoidance of doubt, AMYRIS Non-Collaboration IP does not include Improvement Scope IP. 

1.9      “AMYRIS-Owned Collaboration IP” means any and all
Collaboration IP that is owned by AMYRIS subject to Section 6.1(d)(i). 

1.10      “AMYRIS-Owned Improvement Scope IP” means any and all
Improvement Scope IP that is owned by AMYRIS subject to Section 6.1(e). 

1.11      “AMYRIS Technology” means AMYRIS Background IP, AMYRIS
Included IP, AMYRIS Non-Collaboration IP, AMYRIS Tools IP and MEV Pathway IP. 
  

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 1.12      “AMYRIS Tools
IP” mean [*]. 
 1.13      “Audited Party” has
the meaning set forth in Section 5.4(b). 

1.14      “Auditing Party” has the meaning set forth in
Section 5.4(b). 
 1.15      “Board” has the meaning set
forth in Section 3.1(c). 
 1.16      “Calendar Quarter”
means each respective period of three (3) consecutive months ending on March 31, June 30, September 30 and December 31 of the relevant year. 

1.17      “Candidate Compound” means a Compound selected by the Joint
Steering Committee under this Agreement, for study in Screening Activities and, if applicable, in a Feasibility Study, directed toward development of a Product. 

1.18      “Carry Offer” has the meaning set forth in Section 3.2(b).

 1.19      “Carry Request” has the meaning set forth in
Section 3.2(b). 
 1.20      “CDA” has the meaning set forth
in Section 9.1. 
 1.21      “Change of Control” has the
meaning set forth in Section 13.6(b). 
 1.22      “Claims”
has the meaning set forth in Section 11.1. 

1.23      “Collaboration IP” means any and all Inventions, in each case
that are conceived or reduced to practice on or after the Effective Date by (a) any employee, agent or Third Party contractor of TOTAL or any of its Affiliates, or (b) any employee, agent or Third Party contractor of AMYRIS or any of its
Affiliates, or (c) any of the foregoing jointly, in each case (i) in the performance of R&D Activities within and during the term of the R&D Collaboration (including in the performance of research and development activities under
the TOTAL R&D Option) or (ii) during the performance of activities on behalf of the JV Company related to a Product or the means of making the Product. For the avoidance of doubt, Collaboration IP does not include Improvement Scope IP.

 1.24      “Commercial Compound” means a Compound resulting
from successful completion of a Development Project, produced using a Commercial Strain, that has met the criteria for completion as set forth in the relevant Development Project Plan, to be commercialized as a Product, or further transformed into a
Product by means of formulation, blending, chemical reactions or other processing. 

1.25      “Commercial Strain” means the Strain to be used to produce a
Commercial Compound, as developed or optimized, as the case may be, during the applicable Development Project. 

1.26      “Commercialization Plan” has the meaning stipulated in
Section 3.2(a) hereunder, as such may be amended during the R&D Collaboration by the Management Committee or, thereafter, by the Board of the JV Company. 

 
 * Certain information on this page 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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 1.27      “Compound” means a
compound that is produced by a Strain. 
 1.28      “Confidential
Information” has the meaning set forth in Section 9.1. 

1.29      “Control or Controlled” means, with respect to any Invention,
Patent or other intellectual property right, that the applicable Party or its Affiliates owns or has a license to such Invention, Patent or other intellectual property right and such applicable Party or its Affiliates has the ability to disclose
same to the other Party and to grant such other Party a license or a sublicense (as applicable) under same as provided in this Agreement without violating the terms of any agreement or other arrangement with any Third Party. 

1.30      “Develop” means research and develop (including making,
practicing and using for research and development purposes, but not for any commercial purpose). 

1.31      “Development Project” means research and development activities
(including New Technology Activities and some TOTAL R&D Option activities) related to a Lead Compound, conducted under the R&D Collaboration under a Development Project Plan approved by the Management Committee (or upon exercise of the TOTAL
R&D Option as permitted under this Agreement). 

1.32      “Development Project Plan” means a Development Project Proposal,
approved by the Management Committee upon recommendation of the Joint Steering Committee (including any revisions to such a plan approved by the Management Committee upon recommendation of the Joint Steering Committee) (or upon exercise of the TOTAL
R&D Option as permitted under this Agreement). 

1.33      “Development Project Proposal” means a detailed, milestone-based
work plan with time and cost estimates for the development of a Lead Compound, proposed by the Joint Steering Committee to the Management Committee for approval, as further defined in Section 2.2(d). 

1.34      “Development Project Scope” means that certain development scope
set forth in the applicable Development Project Plan. 

1.35      “Diligent Efforts” means, with respect to specific obligations
of a Party under this Agreement, carrying out such obligation using reasonably sustained efforts at a level at least comparable to those efforts and resources commonly used by a similarly situated company in its industry for a comparable product or
program, acting reasonably promptly and taking into account commercially relevant factors such as (as applicable) stage of development, product life, patent position, strategic value, profit and market potential, and regulatory issues. 

1.36      “Dispute” means any dispute, claim or controversy that arises
between the Parties in connection with this Agreement or any agreement or instrument delivered in connection herewith, or the negotiation, execution, interpretation, breach, termination, invalidity or enforcement hereof and thereof. 

1.37      “DXP Pathway” means the pathway that converts pyruvate and
glyceraldehyde-3-phosphate into isopentenyl diphosphate through 2C-methyl-D-erythrirol-4-phosphate (MEP) 
  

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and 2C-methyl-D-erythritol-2,4-cyclodiphosphate (MEC), wherein the pathway contains a heterologous nucleic acid encoding an active enzyme in the pathway and the active pathway enzyme is under
control of a heterologous transcriptional regulator. 
 1.38      “DXP
Pathway IP” means any and all Collaboration IP or Improvement Scope IP related to the DXP Pathway, including any Strain that produces a Compound derived from isopentenyl diphosphate that is produced through the DXP Pathway. 

1.39      “Effective Date” has the meaning given to it in the preamble of
this Agreement. 
 1.40      “Environmental Law” means any
applicable Legal Requirement in effect as of the Effective Date through the end of the Term relating to the environment or pollutants, contaminants, wastes or chemicals or any toxic, radioactive, ignitable, corrosive, reactive or otherwise hazardous
substances, wastes or materials. 
 1.41      “Excluded
Affiliate” means, only for purposes of Sections 2.6(d), 2.8(d), 6.3(h), Article 9, Sections 13.6(a), 13.6(b) and 13.8, a TOTAL Affiliate in which an AMYRIS competitor (other than a TOTAL wholly-owned Affiliate) has an ownership interest of
20% or more, and either (a) governance rights with respect to such TOTAL Affiliate in addition to those ordinarily afforded to a common stock holder, or (b) involvement in the operations, including research and development or production,
of such TOTAL Affiliate. For the purposes of this definition, AMYRIS competitor means an entity (other than AMYRIS or its Affiliates) whose primary business is to use a synthetic biology platform to make genetically modified microorganisms and to
use such genetically modified microorganisms to make Compounds at the commercialization stage that compete with AMYRIS Compounds; provided, however, that a TOTAL Affiliate shall not be an Excluded Affiliate simply because it sells similar products
or sells products in similar markets. 
 1.42      “Excluded
Markets” means the following markets worldwide, which are excluded from the scope of the R&D Collaboration, unless otherwise agreed in writing by the Parties: flavors and fragrances, food additives, cosmetics and personal care,
consumer-packaged goods, pesticides and pharmaceuticals, as further defined in Exhibit C hereunder. 

1.43      “Executive Officers” means (a) in the case of AMYRIS, the
Chief Commercial Officer or such other officer designated in writing by the Chief Executive Officer, and (b) in the case of TOTAL, an executive officer nominated by TOTAL at the time of the Dispute. 

1.44      “Exploratory Team” means the team formed by the Parties pursuant
to Section 2.5(a). 
 1.45      “F-1 Change of
Control” has the meaning set forth in Section 13.6(c). 

1.46      “F-2 Change of Control” has the meaning set forth in
Section 13.6(c). 
 1.47      “F-1 TOTAL Competitor”
means any Person listed on Exhibit F-1. 
 1.48      “F-2
TOTAL Competitor” means any Person listed on Exhibit F-2. 
  

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 1.49      “Feasibility Plan”
has the meaning set forth in Section 2.2(c). 

1.50      “Feasibility Study” means that series of activities and studies
as further described in Section 2.2(c). 
 1.51      “First
Commercial Sale” means, as to a particular Product, the first commercial sale to a Third Party of the Product in a given country. 

1.52      “FTE” means the equivalent of the work of one (1) employee
full time for one (1) calendar year (where full time is determined based on AMYRIS’ project management system or TOTAL’s analogous system for tracking full time equivalents, as the case may be, consistently applied) of work on the
R&D Activities (duly approved by the respective committee) within the R&D Collaboration. Any employee who is devoted on less than a full time basis (as so determined) per calendar year on the R&D Activities shall be treated as an FTE on
a pro-rata basis (determined based on AMYRIS’ project management system or TOTAL’s analogous system for tracking full time equivalents, consistently applied, which shall not be incompatible with industry standards). 

1.53      “GAAP” means U.S. generally accepted accounting principles,
consistently applied. 
 1.54      “Governmental Entity” means
any court, administrative agency or commission or other federal, state, provincial, regional, county, municipal, local or other governmental authority, instrumentality, agency or commission in any country worldwide. 

1.55      “ICC Rules” has the meaning set forth in Section 12.2(a).

 1.56      “Improvement Right of First Refusal” has the meaning
set forth in Section 2.3. 
 1.57      “Improvement Scope”
has the meaning set forth in Section 2.2(d). 

1.58      “Improvement Scope Activities” means research and development
activities conducted within the Improvement Scope as further described in Section 2.3. For clarity, Improvement Scope Activities do not encompass R&D Activities. 

1.59      “Improvement Scope IP” means any and all Inventions that are
conceived or reduced to practice on or after the Effective Date by (a) any employee, agent or Third Party contractor of TOTAL or any of its Affiliates, or (b) any employee, agent or Third Party contractor of AMYRIS or any of its
Affiliates, or (c) any of the foregoing jointly, in the performance of Improvement Scope Activities (x) during the Term of this Agreement or (y) during the term that a Product is being commercialized by the JV Company or either or
both of the Parties independently as permitted under this Agreement (whichever is later). 

1.60      “Improving Party” has the meaning set forth in Section 2.3.

 1.61      “Indemnified Party” has the meaning set forth in
Section 11.3. 
 1.62      “Indemnifying Party” has the
meaning set forth in Section 11.3. 
  

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 1.63      “Infringement” has
the meaning set forth in Section 7.3(a). 
 1.64      “Internal Rate
of Return” means that certain internal rate of return calculated in accordance with Exhibit G. For purposes of such calculation, amounts shall be recorded in constant U.S. Dollars using the exchange rate and cumulative inflation rate
in effect during the period in which applicable R&D Costs are charged and net cash flows are received. 

1.65      “Inventions” means, whether or not patentable, any inventions,
information, technology, methods, compositions of matter, formulae and other subject matter (including all related software, workflow, apparatus or arrangement of apparatuses, knowledge database systems, processes, systems and technology for the
design, selection, engineering, development and manufacture of Strains, Compounds or Products), the Strains and the Compounds and the Products themselves, chemistry, process engineering, materials transformation, Strain or Compound or Product
specifications, know-how, trade secrets, improvements and all intellectual property rights therein or pertaining thereto. 

1.66      “Joint Project Team” means the team formed by the Parties
pursuant to Section 2.5(d). 
 1.67      “Jointly-Owned Collaboration
IP” has the meaning as set forth in Section 6.1(d)(ii). 

1.68      “Joint Steering Committee” or “JSC” means the
committee formed by the Parties pursuant to Section 2.5(c) to manage and direct the R&D Collaboration on an operation level under the oversight of the Management Committee. 

1.69      “Jointly-Owned Improvement Scope IP” has the meaning set forth
in Section 6.1(e). 
 1.70      “Jointly-Owned IP” means
Jointly-Owned Collaboration IP and Jointly-Owned Improvement Scope IP. 

1.71      “JV Company” has the meaning set forth in Section 3.1(a).

 1.72      “Large Market Product” means any Product intended
for liquid, fungible markets, such as fuel markets and large chemical markets. 

1.73      “Lead Compound” means any Candidate Compound that: (a) has
been selected as a Lead Compound by the Management Committee, after having passed the Screening Activities and the Feasibility Study phases, or (b) has an approved Development Project Plan. 

1.74      “Legal Requirement” means, with respect to any Party, any
federal, state or local law, constitution, treaty, ordinance, code, edict, writ, decree, rule, regulation, judgment, ruling, injunction or requirement issued, enacted, adopted, promulgated, implemented or otherwise put into effect by or under the
authority of any Governmental Entity that is binding upon or applicable to such Party, including Environmental Laws and any of the foregoing applicable to genetically modified microorganisms, related to food, drugs, health or safety. 

 

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 1.75      “Make and Sell”
means make, have made, use, import, offer for sale, market, sell, have sold, distribute and otherwise commercialize (including practicing and using for the foregoing purposes). 

1.76      “Main IP” means any and all Collaboration IP, other than
both MEV Pathway IP and Tools IP. 
 1.77      “Management
Committee” means the committee formed by the Parties pursuant to Section 2.5(b) to manage the strategic direction of the R&D Collaboration. 

1.78      “MEV Improvements” has the meaning set forth in
Section 6.3(c). 
 1.79      “MEV Pathway IP” means any and
all Collaboration IP related to the Mevalonate Pathway, including any Strain that produces a Compound derived from isopentenyl diphosphate that is produced through the Mevalonate Pathway. 

1.80      “Mevalonate Pathway” means the pathway that converts acetyl Co-A
into isopentenyl diphosphate through mevalonic acid, wherein the pathway contains a heterologous nucleic acid encoding an active enzyme in the pathway and an enzyme in the pathway is under control of a heterologous transcriptional regulator.

 1.81      “Net Income” means, with respect to any entity, the
net income (loss) of such entity, determined in accordance with GAAP. 

1.82      “New Pathway” means any enhanced pathway for making a Compound
that is not derived from isopentenyl diphosphate that is produced from either the Mevalonate Pathway or the DXP Pathway. For clarity, New Pathway does not include the Mevalonate Pathway or DXP Pathway. 

1.83      “New Technology” means the use of a Strain that is not a Strain
engineered to produce a Compound through the Mevalonate Pathway or DXP Pathway in order to prepare a Product. 

1.84      “New Technology Activities” means activities conducted to
Develop a New Technology, which activities include among other things, the design, development, optimization and scale-up of a Commercial Strain that produces a specific Commercial Compound for a targeted Product, and of the corresponding
biotechnology-related and downstream processes. 
 1.85      “New
Technology Projects” means any Development Project related to New Technology Activities. 

1.86      “New Tools IP” means any and all Tools IP other than
AMYRIS Tools IP. 
 1.87      “Notice” has the meaning set forth
in Section 13.6(b). 
 1.88      “Operating Protocol” has
the meaning set forth in Section 2.6(a)(iii). 
  

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 1.89      “Patent(s)” means
(a) all national, regional and international patents and patent applications, including provisional patent applications; (b) all patent applications filed either from a patent or patent application described in clause (a) or from an
application claiming priority to a patent or patent application described in clause (a), including divisionals, continuations, continuations-in-part, provisionals, converted provisionals, and continued prosecution applications; (c) any and all
patents that have issued or in the future issue from the foregoing patent applications (clauses (a) and (b)), including utility models, petty patents and design patents and certificates of invention; (d) any and all extensions or
restorations by existing or future extension or restoration mechanisms, including revalidations, reissues, re-examinations and extensions (including any supplementary protection certificates and the like) of the foregoing patents or patent
applications (clauses (a), (b) and (c)); and (e) any similar rights, including so-called pipeline protection, or any importation, revalidation, confirmation or introduction patent or registration patent or patent of additions to any such
foregoing patent applications and patents.  
 1.90      “Patent
Committee” means the committee described in Section 6.8(a). 

1.91      “Permit” means, with respect to any Party, any: (a) permit
license, approval, certificate, franchise, permission, clearance, registration, variance, sanction, exemption, order, qualification, authorization issued, granted or given to such Party by any Governmental Entity or pursuant to any Legal
Requirement; or (b) right of such Person under any contractor agreement with any Governmental Entity. 

1.92      “Permitted R&D Strain” means a Strain producing a non-C15
isoprenoid compound using the Mevalonate Pathway or DXP Pathway resulting from a Development Project (a) funded by TOTAL in Section 2.7(c) or (b) otherwise solely funded by TOTAL. 

1.93      “Person” means an individual, sole proprietorship, partnership,
limited partnership, limited liability partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture or other similar entity or organization, including a government or
political subdivision, department or agency of a government. 

1.94      “Plans” has the meaning set forth in Section 2.1.

 1.95      “Pre-approved AMYRIS Tools IP” mean AMYRIS Tools IP
that (a) is significantly based on or improves upon: 
 [*] (a) U.S. Patent Application
No. 12/622,401; (b) U.S. Patent Application No. 12/684,874; (c) PCT/US2009/065048; [*] 

[*] 

or (b) is significantly based upon or improves upon AMYRIS Background IP or AMYRIS Non-Collaboration IP, is proposed by AMYRIS as
AMYRIS Tools IP, and is approved in writing by TOTAL to be included in AMYRIS Tools IP during the Term (such approval not to be unreasonably withheld). 

It is expected that AMYRIS Tools IP that is significantly based on or improves upon

  
 * Certain
information on this page 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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the items defined concisely below will be included within AMYRIS Pre-approved Tools IP by agreement of TOTAL (such agreement not to be unreasonably withheld) upon presentation by AMYRIS of
documentation defining these items precisely and demonstrating their proprietary nature: 
 [*] 

[*] 

[*] 

[*] 

1.96      “Product” means any product that is a Commercial Compound or is
produced from or contains a Commercial Compound and is intended for any market, including fuels, specialty fluids and chemicals markets, other than any Excluded Market. The Specific Products (as defined hereunder) shall be excluded from the
Products, unless the Parties decide otherwise, as described in Section 2.1. 

1.97      “Production Right of First Refusal” has the meaning set forth in
Section 3.2(d)(i). 
 1.98      “Proof of Concept (“PoC”)
Criteria” means the criteria to be defined by the Joint Steering Committee for each Screening Plan to determine if a Candidate Compound undergoing Screening Activities should enter into a Feasibility Study. 

1.99      “Proposed Improvement Project” has the meaning set forth in
Section 2.3. 
 1.100      “Proposed Project” has the
meaning set forth in Section 3.2(d)(i). 
 1.101      “Proposing
Party” has the meaning set forth in Section 3.2(d)(i). 

1.102      “Quarterly Royalty Report” has the meaning set forth in
Section 5.1. 
 1.103      “R&D Activities” means
research and development activities related to the selection of Candidate Compounds (including the work of the Exploratory Team), Screening Activities, Feasibility Study and Development Project activities (including the preparation of the Screening
Plan, Feasibility Plan, Development Project Proposal, the Development Project Plan and any revisions thereto), as well as research and development activities relating to any Strain or Compound or Product in development within the R&D
Collaboration. For clarity, the R&D Activities include the New Technology Activities and the activities in the exercise of the TOTAL R&D Option. For clarity, R&D Activities do not encompass Improvement Scope Activities. 

1.104      “R&D Collaboration” means the research and development
cooperation between the Parties as further described in Article 2, including the New Technology Activities and activities in the exercise of the TOTAL R&D Option. 

 
 * Certain information on this page 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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 1.105      “R&D Costs”
means the fully burdened, direct and indirect costs, to the extent directly attributable to the performance of the R&D Activities, as approved in the applicable Plan, before the commencement of any such R&D Activities, by the Joint Steering
Committee or the Management Committee as applicable (including the costs of the AMYRIS Laboratory Resources to the extent dedicated to the R&D Activities, the costs for AMYRIS personnel who are part of the Joint Project Teams or the Exploratory
Team or otherwise conducting R&D Activities (such costs calculated at the AMYRIS FTE Rate), the costs for TOTAL personnel who are part of the Joint Project Teams or the Exploratory Team or otherwise conducting R&D Activities, the costs
incurred by AMYRIS with respect to the Seconded Employees (including overhead, Third Party costs (if necessary) and all costs and capital expenditures relating to additional equipment required for the R&D Activities not already included in the
AMYRIS FTE Rate), as documented in accordance with reasonable procedures as agreed to in writing by the Parties. For the avoidance of doubt, R&D Costs include costs to the extent directly attributable to securing additional laboratory and office
space if necessary in order to accommodate the Seconded Employees and the costs of space if necessary to house large equipment purchased specifically for the R&D Collaboration. All R&D Costs shall be “at cost”. 

1.106      “Receiving Party” has the meaning set forth in
Section 3.2(d)(i). 
 1.107      “Regulatory Approval” means
any and all approvals (including price and reimbursement approvals, if required prior to sale in the applicable jurisdiction), licenses, registrations, or authorizations of any country, federal, supranational, state or local regulatory agency,
department, bureau or other government entity that are necessary for the manufacture, use, storage, import, export, transport and/or sale of a particular Product in the applicable jurisdiction. 

1.108      “Representatives” has the meaning set forth in
Section 9.2. 
 1.109      “Royalties” means those certain
royalties payable under Article 3 or Article 6. 
 1.110      “Royalty
Term” means (a) with respect to any Royalty due pursuant to Article 3, the term during which the Royalty shall be payable as agreed by the Parties in writing in connection with the approval of the Commercialization Plan of the
Development Project Plan, (and if there is not such an agreement regarding the term which is so documented at such time, such term will be perpetual unless and until otherwise agreed by the Parties in writing), or (b) with respect to any
Royalty due pursuant to Article 6, on a country by country basis, the period commencing as of the date of First Commercial Sale of the applicable Compound or Product and ending on the expiration of the last-to-expire Valid Claim claiming the
applicable Compound or Product, or the manufacture (including manufacturing process) or use thereof, which, but for the applicable license granted, would be infringed by the manufacture (including manufacturing process), use or sale of such Compound
or Product, as applicable in the country of sale (at the time of use or sale) or manufacture (at the time of manufacture). At the end of the Royalty Term for any Royalty due pursuant to Article 6, if the licensed Party wants to continue to use the
other Party’s proprietary trade secrets and know how in connection with the at-issue Product, the Parties shall negotiate a royalty and royalty term for an extension of the applicable license in good faith. 

 

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 1.111      “Sale” has the
meaning set forth in Section 13.6(b). 
 1.112      “Screening
Activities” means those certain screening activities described in Section 2.2(b). 

1.113      “Screening Plan” has the meaning set forth in
Section 2.2(a). 
 1.114      “Seconded Employees” has the
meaning set forth in Section 2.6(d). 
 1.115      “Secondment
Agreement” means that certain agreement entered into pursuant to Section 2.6(d). 

1.116      “Specific Products” means the following products: isoprene,
farnesene-derived diesel, farnesene-derived lubricants, farnesene-derived polymers, farnesene-derived adhesives, farnesene-derived oxygen scavengers for use in packaging, farnesene-derived surfactants and sesquiterpene-derived compounds for uses in
flavors and fragrances (as defined in Exhibit C). 

1.117      “Strain” means any microorganism, including bacteria, yeast,
higher fungi and algae, that is tested, modified or optimized to produce compounds according to the alteration of metabolic pathways, including AMYRIS’ genetically modified yeast strain that includes the Mevalonate Pathway from which it is
capable of making an isoprenoid compound. 
 1.118      “Talent
Development and Culture Committee” has the meaning set forth in Section 2.5(e). 

1.119      “Tax” and “Taxes” means (a) any and all
federal, provincial, regional, state, and local taxes, assessments, and other similar governmental charges, duties, impositions and liabilities in any country worldwide (including estimated taxes), including taxes based upon or measured by gross
receipts, income, profits, sales, use and occupation, and value-added, ad valorem, transfer, franchise, withholding, payroll, recapture, employment, excise and property taxes, together with all interest, penalties and additions imposed with respect
to such amounts; (b) any liability for the payment of any amounts of the type described in clause (a) of this definition as a result of being a member of an affiliated, consolidated, combined or unitary group for any period; and
(c) any liability for the payment of any amounts of the type described in clause (a) or (b) of this definition as a result of any express or implied obligation to indemnify any Third Party, as a result of being a transferee or
successor, or as a result of any obligations under any agreements or arrangements with any Third Party with respect to such amounts and including any liability for taxes of a predecessor entity. 

1.120      “Territory” means the entire world. 

1.121      “Term” has the meaning provided in Section 10.1.

 1.122      “Third Party” means any Person other than AMYRIS or
TOTAL or an Affiliate of AMYRIS or TOTAL. 
 1.123      “Tools
IP” means any and all Collaboration IP that is [*]. For clarity, Tools IP encompasses [*]. 
  

* Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

 12 

 1.124      “TOTAL Background
IP” means any and all Inventions that are Controlled by TOTAL or its Affiliates prior to the Effective Date and that are related to or useful for the R&D Collaboration or for the purposes of the production and commercialization of
Products as permitted under this Agreement. 
 1.125      “TOTAL Included
IP” means TOTAL Background IP and TOTAL Non-Collaboration IP that is introduced and accepted into the R&D Collaboration as stipulated in Section 6.1(c) hereunder. 

1.126      “TOTAL Indemnitees” has the meaning set forth in
Section 11.2. 
 1.127      “TOTAL Non-Collaboration IP”
means any and all Inventions, in each case that are both (a) Controlled by TOTAL or its Affiliates, and (b) conceived and reduced to practice on or after the Effective Date by any employee, agent or Third Party contractor of TOTAL or any
of its Affiliates, solely or jointly with any Third Party, other than (i) in the performance of the R&D Activities within and during the term of the R&D Collaboration (including in the performance of research and development
activities under the TOTAL R&D Option), or (ii) during the performance of activities on behalf of the JV Company related to a Product. For the avoidance of doubt, TOTAL Non-Collaboration IP does not include Improvement Scope IP. 

1.128      “TOTAL-Owned Collaboration IP” shall have the meaning set forth
in Section 6.1(d)(iii). 
 1.129      “TOTAL-Owned Improvement
Scope IP” means any and all Improvement Scope IP that is owned by TOTAL pursuant to Section 6.1(e). 

1.130      “TOTAL R&D Option” has the meaning set forth in
Section 2.4. 
 1.131      “Valid Claim” means, on a
country-by-country basis, a claim (including a process, use, or composition of matter claim) of (a) any issued and unexpired Patent that has not been held invalid or unenforceable by a court of competent jurisdiction, unappealable or unappealed
within the time allowed for appeal, and which has not been admitted to be invalid by the owner through reissue, disclaimer or otherwise; and which has not been (i) cancelled, (ii) withdrawn from consideration, (iii) finally determined
to be unallowable by the applicable governmental authority (and from which no appeal can be taken), and/or (iv) abandoned in accordance with or as permitted by the terms of this Agreement or by mutual written consent, or (b) any Patent
constituting an application, which application shall not have been pending longer than five (5) years and six (6) months from its earliest priority date and shall not have been earlier cancelled, withdrawn or abandoned. The construction of
any claim language pursuant to this Agreement shall be consistent with a claim construction order issued by any court of competent jurisdiction. 

2.        RESEARCH AND DEVELOPMENT COLLABORATION

 2.1      Research Overview. Promptly after the Effective Date, the
Parties shall meet to discuss the effective launch of the R&D Collaboration (including the identification of early R&D Activities, especially the first Lead Compound(s) for which research and development is to be

  

 13 

 
commenced under the first Development Project(s) with the goal of producing the first Commercial Compound(s) and corresponding Product(s), and the set up of the committees and the exploratory and
project teams as further described in this Article 2). Commencing on the Effective Date and during the Term, the Parties shall conduct (using the efforts described below) the R&D Activities within the R&D Collaboration in order to develop
Commercial Strains to make Commercial Compounds to be used to make Products, in accordance with the Screening Plan(s), the Feasibility Plan(s) and the Development Project Plan(s) (collectively, the “Plans”) and the other terms of
this Agreement. Each Party shall use Diligent Efforts to conduct its assigned tasks and obligations under the Plans (as amended or revised by the Joint Steering Committee or the Management Committee from time to time), using any resources
specifically identified in the Plans as required, and subject to the oversight and management of the JSC and the Management Committee. The Parties expect most R&D Activities to take place at the AMYRIS Laboratory Facilities; provided, however,
that subject to Section 6.3(g) each Party may conduct R&D Activities at any of its facilities as set forth in the applicable Plan. The Parties intend to primarily develop, under the R&D Collaboration, Products and/or
related Compounds and/or Strains for the production of such Products, including New Technology Projects, but the Parties may also agree to jointly develop, within the scope of the R&D Collaboration, one or more of the Specific Products and/or
any related Compound and/or Strain for the production of such Specific Products. 

2.2        R&D Activities. 

(a)      Selection of Candidate Compounds. Either Party or the Parties together,
through the Exploratory Team, may propose Compounds to the Joint Steering Committee to be selected as Candidate Compounds. The proposal shall include a summary business case, a proposed plan for Screening Activities (including the time, costs and
resources anticipated for such activities and associated budget) and the PoC Criteria to be tested during the Screening Activities, in a format to be agreed to in writing by the Parties (the “Screening Plan”). It is expected that
TOTAL will have a major role identifying potential Candidate Compounds and neither Party shall unreasonably delay its approval or disapproval of any potential Candidate Compound proposed by the other Party. 

(b)      Screening Activities. The Screening Activities shall consist of a series
of activities as outlined in the Screening Plan to determine if a Candidate Compound meets the PoC Criteria. Screening Activities may include screening for and identifying (i) a Strain which produces the Candidate Compound or (ii) a Strain
having a specific character or trait. It is expected that Screening Activities as outlined in each Screening Plan will take an average of eight (8) weeks (or potentially longer in the case of New Technology Activities), which may vary depending
on the complexity of the Screening Activities in the Screening Plan. The Parties acknowledge that a Screening Activity may require subprojects, particularly in the case of the New Technology Activities, and in such events subprojects shall, for
clarity, be considered part of the applicable Screening Activities. 

(c)      Feasibility Study. The Feasibility Study shall consist of a series of
activities and studies (including the time, costs and resources anticipated for such activities and associated budget) as outlined in a plan (the “Feasibility Plan”) in order to determine if a Candidate Compound should be selected
as a Lead Compound to be developed through a 
  

 14 

 
Development Project. The Feasibility Study shall be overseen by a Joint Project Team selected by the Joint Steering Committee. Activities under the Feasibility Study shall include, but not be
limited to: conducting additional technical feasibility activities, as needed, including evaluation of Strain development and related chemistry/downstream processing steps, determining the relevant market for the intended Product (including timing
for market entry and evaluation of market acceptance), determining any required testing/certification activities, analyzing supply chain and commercial production costs, reviewing the intellectual property landscape, evaluating risks and benefits of
proceeding with the development of a Candidate Compound, creating a preliminary development plan and related time and cost estimate and creating a preliminary Commercialization Plan. It is expected that each Feasibility Study, together with the
preparation of the Development Project Proposal for a specific Candidate Compound, if applicable, will take an average of sixteen (16) weeks (or longer in the case of New Technology Activities), which may vary depending on the complexity of the
issues to be addressed in the Feasibility Plan. 
 (d)      Development
Project Proposal. By the end of the Feasibility Study, the Joint Steering Committee may direct a Joint Project Team to cooperate with it for the preparation of a Development Project Proposal for submission to the Management Committee, which
shall be prepared in light of the results of Screening Activities and the Feasibility Study. The Development Project Proposal shall detail the work plan for the Development Project (including the design, development, optimization, scale-up and
validation of a Commercial Strain for production of a Commercial Compound through a fermentation process, the design, development, optimization and scale-up of the downstream processing steps which transform Commercial Compounds into the intended
Product(s), technology transfer activities, any regulatory and testing/certification activities for the approval of the Product(s) and any planning activities for transferring the Commercial Strain, Commercial Compound and Product to the JV Company
or to a Party as may be agreed hereunder for implementation of the Commercialization Plan), the required competencies, skills and experiences of those persons to be assigned to the applicable activities, a budget that includes corresponding
resources and costs, a timeline and a milestone schedule with well-defined milestones associated with Go / No Go decisions and measurable deliverables, including the final milestone which would trigger entry into the production and commercialization
phase. It is expected that the preparation of the Development Project Proposal for a specific Candidate Compound, if applicable, will take an average of eight (8) weeks. Each Development Project Proposal shall include a proposed
Commercialization Plan for the Product(s) which are intended to result from the proposed Development Project (including the production plan for the use of the relevant Commercial Strains and Commercial Compounds to produce such Product(s),
anticipated capital expenditures and operating expenses, timing for market entry and evaluation of market acceptance, supply chain analysis and sharing of the profits in accordance with this Agreement). In addition, each Development Project Proposal
for a Candidate Compound shall include an agreed upon scope related to such Development Project within which either Party shall have the ability to pursue improvements as set forth in Section 2.3 (the “Improvement Scope”). The
Improvement Scope is intended to give each Party some latitude to improve upon Commercial Strains, Commercial Compounds and Products, and the means of producing them. In addition, each Development Project Proposal for a Candidate Compound shall
include an agreed upon Development Project Scope for which neither Party will have the ability to use any Collaboration IP to compete with such Development Project as defined in the corresponding Development Project Scope outside of the R&D
Collaboration. Prior to approving a Development Project Plan, the Management Committee 
  

 15 

 
shall determine if the Product(s) developed under a Development Project Plan are Large Market Products. If the Management Committee does not designate such Product (s) as Large Market
Product(s), then such Product(s) will not be classified as a Large Market Product. In assessing whether a Product is a Large Market Product, the Management Committee shall make a reasonable determination in light of the anticipated market size,
industry structure, market channels and commercial contracting practices of the Product(s) at-issue. 

(e)      Development Projects.    If the Joint Steering
Committee submits a Development Project Proposal for a Candidate Compound to the Management Committee and the Management Committee approves it, the Candidate Compound shall become a Lead Compound for development under a Development Project Plan
(which Plan shall be the Development Project Proposal as adopted by the Management Committee). Development Project activities are expected to take an average of eighteen (18) to twenty-four (24) months per Development Project (or
potentially longer in the case of New Technology Activities), which may vary depending on the complexity of the issues to be addressed in the Development Project Plan with respect to the relevant Lead Compound. The Parties acknowledge that a
Development Project may require subprojects, particularly in the case of the New Technology Activities, and in such events subprojects shall, for clarity, be consider part of the applicable Development Project. 

(f)      Potential First Development Project
([*]).    TOTAL is considering whether to develop a project related to the research, development, production and commercialization of [*] as the first Development Project within the R&D Collaboration. Promptly
after the Effective Date, AMYRIS shall provide to TOTAL all written information Controlled by AMYRIS and related to the research, development, production and commercialization of [*] and reasonably relevant and necessary for TOTAL (as determined by
AMYRIS using reasonable discretion) to decide whether to engage in a Development Project for [*]. Upon the delivery of all such information to TOTAL, TOTAL and AMYRIS shall use Diligent Efforts to complete the Feasibility Study (subject to approval
of a Feasibility Plan in accordance with this Agreement) for the [*] project and to prepare a Development Project Proposal therefor. TOTAL shall decide whether or not to proceed with the [*] project under the R&D Collaboration on or before [*]
30, 2010 provided that AMYRIS provides the foregoing relevant and necessary information promptly after the Effective Date, unless both Parties agree in writing to extend such date. If TOTAL elects to proceed with [*] as the first Development
Project, such [*] project shall be deemed a Development Project (subject to approval of a Development Project Plan in accordance with this Agreement) and shall be included in the R&D Collaboration. 

(g)      New Technology Activities.    During the Term, when
either Party recommends undertaking New Technology Activities with a Third Party, the other Party shall give due consideration to the recommendation. In the case when a Third Party is involved in or contributes to the conduction of New Technology
Activities, such Third Party and the Parties shall enter into an agreement taking into account the exclusivity as described in Section 2.8, unless otherwise agreed by the Parties in writing, and such other terms as are mutually agreed in
writing, including those with respect to confidentiality and IP ownership consistent with the principles set forth in this Agreement. 
  

* Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

 16 

 2.3      Improvement
Scope.    Once a Commercial Strain, Commercial Compound or Product has entered into the production and commercialization phase, each Party shall be deemed to have granted the licenses as set forth in Article 6 below to
conduct research and development activities independently within the Improvement Scope provided that the Party receiving such licenses offers the other Party an “Improvement Right of First Refusal” as described in this
Section 2.3 which shall permit such other Party the option to participate in such Party’s research and development activities within the Improvement Scope based on 50/50 cost and profit sharing (as applicable to Development Projects
generally and further described herein), unless otherwise agreed to by the Parties in writing taking into account the nature of the project and the contributions of the Parties. In the event that a Party or any of its Affiliates (“Improving
Party”) desires to conduct research and development activities within the Improvement Scope, it shall first provide the other Party written notice containing a description of such research and development activities (the “Proposed
Improvement Project”). The Improving Party shall not commence the Proposed Improvement Project without the other Party for a period of 60 days from the date of notice being given to the other Party or until the Improving Party receives
written notice from the other Party that the other Party does not wish to enter into such Proposed Improvement Project with the Improving Party, whichever is earliest. If the other Party provides notice to the Improving Party within such 60 day
period that the other Party or any of its Affiliates desires to exercise the Improvement Right of First Refusal, then the Improving Party shall not commence the Proposed Improvement Project without the other Party or its Affiliate, the Parties shall
promptly enter into any applicable agreements with any Third Parties anticipated to be involved in the project as so decided by the Parties), agree upon a Development Project Plan for the Proposed Improvement Project. In the event that the Improving
Party desires to modify the terms of any Proposed Improvement Project in any way that makes such transaction more favorable to the Improving Party (or potentially to the other Party), the Improving Party shall provide written notice thereof to the
other Party and the 60 day period shall commence anew. In the event that the other Party provides no notice or declines in writing during the said 60 period, the Improving Party shall thereafter be free to engage in the Proposed Improvement Project
either alone or with one or more Third Parties. If the Improvement Right of First Refusal is declined by the other Party, then the Improving Party will be able to perform the Proposed Improvement Project for improvements independently provided that
it grants the licenses related to such improvements to the producing entity as set forth in Section 6.3(b) and 6.5(b) and to the other Party if applicable as set forth in Section 6.3(b). In the case the JV Company is the producing entity,
the R&D costs associated with the Proposed Improvement Project incurred by the Improving Party will be recovered by the Improving Party plus a twenty percent (20%) Internal Rate of Return, before sharing profits in an amount to be agreed by the
Management Committee. 
 2.4      TOTAL R&D Option. 

(a)      If AMYRIS does not consent to a proposed Screening Plan, Feasibility Plan
or Development Project Plan (or any revision thereto), within the context of its role on the Joint Steering Committee or the Management Committee, as applicable, then TOTAL shall have the right to exercise an option (referred to as the
“TOTAL R&D Option”) to proceed and/or continue with any such Screening Plan, Feasibility Plan or Development Project Plan (or any revision thereto) using AMYRIS Laboratory Resources and AMYRIS shall allocate AMYRIS

  

 17 

 
Laboratory Resources under the terms of this Agreement to the related R&D Activities under the TOTAL R&D Option, subject to the following: 

(i)      AMYRIS shall have no obligation to devote such AMYRIS Laboratory Resources
to more than two (2) Screening Plans (one involving the Mevalonate Pathway or DXP Pathway, the other involving New Technology), two (2) Feasibility Plans (one involving the Mevalonate Pathway or DXP Pathway, the other involving New
Technology) and one Development Project Plan simultaneously under the TOTAL R&D Options. 

(ii)      In no event may TOTAL exercise the TOTAL R&D Option with respect to
any Development Project Plan if there are already three (3) then-ongoing Development Projects within the R&D Collaboration (or four (4) in the event TOTAL is exercising the TOTAL R&D Option for a Development Project Plan for a New
Technology Project), running simultaneously at any point in time, except as otherwise agreed to in writing by the Parties. In addition, in no event may TOTAL exercise the TOTAL R&D Option under any Plan the terms of which would result in any
R&D Activities extending beyond the end of the Term. 
 (iii)      In
no event may TOTAL exercise the TOTAL R&D Option if, at the date of which TOTAL notifies AMYRIS that it wishes to exercise such option, AMYRIS is subject to a binding written agreement with a Third Party with a project scope that is the same as
or significantly overlaps with the scope of the intended TOTAL R&D Option as outlined in the Screening Plan, Feasibility Plan or Development Project Plan for such proposed R&D Option. In such circumstances, AMYRIS shall demonstrate to TOTAL
the existence of such agreement and that the project scope is the same as or significantly overlaps to TOTAL’s reasonable satisfaction; provided that if AMYRIS is not able to disclose such agreement to TOTAL, the Parties shall appoint an
independent Third Party to verify the existence of such agreement and such overlap. 

(b)      For the avoidance of doubt, activities undertaken hereunder upon exercise
of the TOTAL R&D Option shall still be conducted under Screening Plans, Feasibility Plans or Development Project Plans, as applicable, but such Plans shall not be subject to Management Committee or Joint Steering Committee approval and instead
shall be subject to TOTAL’s approval, in its sole discretion; provided, however, that (i) any change to any Screening Plan, Feasibility Plan or Development Project Plan that would require a significant increase, or significant modification
of the nature, scope or timing of the AMYRIS Laboratory Resources required to be dedicated to the TOTAL R&D Option, or (ii) any significant change to the scope of the TOTAL R&D Option as outlined in the Development Project Scope, or
(iii) any change to the scope of the TOTAL R&D Option as outlined in the Development Project Scope that would cause AMYRIS to be in violation of a binding written agreement with a Third Party as described in Section 2.4(a)(iii) above;
shall require approval of AMYRIS, consent not to be unreasonably withheld or delayed. 

(c)      If AMYRIS opts out at the Screening Plan or Feasibility Plan phase, it may
still opt in at any time prior to commencement of the corresponding Development Project Plan as follows: AMYRIS may request at any time prior to commencement of the Development Project Plan that TOTAL provide to AMYRIS all written information
Controlled by TOTAL not in AMYRIS’ possession and reasonably relevant to the decision by AMYRIS of whether to 
  

 18 

 
opt- in with respect to the Development Project. AMYRIS shall notify TOTAL within thirty (30) days of receipt of such information whether it elects to opt-in with respect to the applicable
Development Project. For Development Projects, including New Technology Projects, for which AMYRIS exercises an opt-in right under this clause (c), AMYRIS shall share past and future R&D Costs for such project on an equal basis (50%/50%), unless
otherwise agreed by the Parties in writing. 
 2.5      Committees and
Teams.    The committees and teams set forth in this Section 2.5 shall be established solely during the Term. 

(a)      Exploratory Team.    Promptly after the Effective
Date, the Parties shall form an Exploratory Team. The Exploratory Team shall be composed of employees from AMYRIS and Seconded Employees (the number of FTEs to be set by the Joint Steering Committee and the persons will be proposed by the
employer-Party and approved by the Joint Steering Committee, approval not to be unreasonably withheld), and shall be located at AMYRIS Laboratory Facilities in Emeryville, CA. The Parties shall allocate competent employees to work on the Exploratory
Team with relevant competencies, skills and experience and such employees may be rotated from time to time, including in light of such relevant competencies, skills and experience. The Exploratory Team shall be responsible for, among other things:

 (i)      Exploring and evaluating New Technology opportunities;

 (ii)      Exploratory research work in order to identify possible
Compounds that could be proposed as Candidate Compounds; 

(iii)      Proposing Compounds to the Joint Steering Committee to be selected as
Candidate Compounds; 
 (iv)      Preparing the Screening Plan for its
submission to the Joint Steering Committee; 
 (v)      Conducting the
Screening Activities; and 
 (vi)      Preparing reports to the Joint
Steering Committee, indicating the progress and status of the Screening Activities as well as any exploratory research work and selection activities. 

(b)      Management Committee.    Promptly after the Effective
Date, the Parties shall form a Management Committee. Strategic decisions of the R&D Collaboration shall be made by the Management Committee as specified herein. TOTAL and AMYRIS shall each appoint three (3) members to the Management
Committee and all decisions of the Management Committee shall be made by a vote of any four (4) members of the Management Committee with each member having one (1) vote, except as otherwise expressly provided elsewhere in this Agreement. A
quorum of the Management Committee shall consist of four (4) or more members. Any disputes related to the decisions or governance of the Management Committee shall be resolved under the dispute resolution provisions of Article 12. The
Parties shall alternate selecting the chairperson of the Management Committee on an annual basis with AMYRIS selecting the first chairperson. The Management Committee shall convene every three
(3)
  

 19 

 
months or more frequently as requested by either Party, either in-person, by telephone conference, or video conference. The chairperson of the Management Committee shall be responsible for
scheduling quarterly meetings on no less than forty-five (45) business days’ notice (which notice may be given via electronic email) and calling non-scheduled meetings, as necessary and agreed to by the Parties, on no less than ten
(10) business days’ notice (which notice may be given via electronic email). The chairperson (or his or her designee) shall record the minutes of the meeting and such minutes shall be circulated to the members of the Management Committee
within two (2) business days following the meeting for review and comment. Thereafter, at the next meeting of the Management Committee, such minutes shall be considered for approval. All notices to be provided by a Party to the Management
Committee shall be sent to the chairman of the Management Committee. All notices received by the chairman of the Management Committee shall be distributed to the other members of the Management Committee. Each Party shall pay its own expenses
related to participation in the Management Committee. The Management Committee shall remain in effect until the expiration of the Term (or for such longer period upon which the Parties agree in writing). The Management Committee shall be responsible
for, among other things: 
 (i)      Approving or rejecting any
Development Project Proposal submitted by the Joint Steering Committee; 

(ii)      Approving or rejecting proposed changes to any Development Project Plan
(including the budget included therein and, if applicable, the then-current Commercialization Plan) submitted by the Joint Steering Committee; 

(iii)      Approving or rejecting a recommendation to abandon a Development Project
submitted by the Joint Steering Committee (or independently determining to abandon a Development Project); 

(iv)      Determining that the final milestone triggering entry into the production
and commercialization phase has been achieved; 
 (v)      After reviewing
the Commercialization Plan, decide how to use the Commercial Strain and Commercial Compound and how to Make and Sell the applicable Commercial Compound and/or Product, as stipulated in Article 3; 

(vi)      Establishing promptly following the Effective Date and modifying from
time to time the reporting obligations of the JSC, the Joint Project Team and the Exploratory Team with respect to the activities under this Agreement; and 

(vii)      Carrying out such other duties and responsibilities as are described for
it in this Agreement. 
 For clarity, the Management Committee shall not have any ability or authority to modify the terms of
this Agreement. 
 The Management Committee may decide to abandon a Development Project at any time, whether or
not such a recommendation has been made by the Joint Steering Committee. 
  

 20 

 (c)      Joint Steering Committee.
Promptly after the Effective Date, the Parties shall form a Joint Steering Committee comprised of three (3) representatives of each of TOTAL and AMYRIS. The Parties shall alternate selecting the chairperson of the JSC on an annual basis
with TOTAL selecting the first chairperson. The JSC shall meet no less frequently than once every three (3) months or as otherwise needed, as reasonably determined by the Parties, during the Term of this Agreement. Such meetings shall be
conducted in person or, if otherwise agreed by the Parties, by videoconference and teleconference. The JSC shall agree upon the time and location of the meetings. A reasonable number of additional representatives of a Party may attend meetings of
the JSC in a non-voting capacity, subject to the confidentiality provisions of Article 9. Each Party shall pay its own expenses related to participation in the JSC. The JSC shall remain in effect until the expiration of the Term (or for such longer
period upon which the Parties agree in writing). All decisions of the JSC shall be made by a vote of any four (4) members of the JSC, with each member having one (1) vote, except as otherwise expressly provided elsewhere in this Agreement.
A quorum of the JSC shall consist of four (4) or more members. Any disputes related to the governance of the JSC shall be resolved under the dispute resolution provisions of Article 12. The chairperson of the JSC shall be responsible for
scheduling the quarterly meetings on no less than forty-five (45) business days’ notice (which notice may be given via electronic email) and calling non-scheduled meetings, as necessary and agreed to by the Parties, on no less than ten
(10) business days’ notice (which notice may be given via electronic email). The chairperson shall record the minutes of the meeting and such minutes shall be circulated to the members of the JSC within two (2) business days following
the meeting for review and comment. Thereafter, at the next meeting of the JSC, such minutes shall be considered for approval. All notices to be provided by a Party to the JSC shall be sent to the chairman of the JSC. All notices received by the
chairman of the JSC shall be distributed to the other members of the JSC. Each Party shall pay its own expenses related to participation in the JSC. The JSC shall remain in effect until the expiration of the Term (or for such longer period upon
which the Parties agree in writing). The Joint Steering Committee shall be responsible for the general affairs of the R&D Collaboration and, among other things: 

(i)      The day-to-day management and operations of the R&D Collaboration.

 (ii)      Identifying the competences, skills and experiences required
for the persons constituting the Exploratory Team and each of the Joint Project Teams and approving the Seconded Employees and AMYRIS’ personnel that will compose the Exploratory Team and the Joint Project Teams from those individuals proposed
by the employer-Party. 
 (iii)      Selecting Candidate Compounds for
Screening Activities and approving the related Screening Plan. 

(iv)      Based on the results of the Screening Activities, selecting which
Candidate Compounds will enter into a Feasibility Study, selecting a Joint Project Team for such Candidate Compound, approving a Feasibility Plan and overseeing the activities of the applicable Joint Project Team in the conduct of the Feasibility
Study. 
  

 21 

 (v)      Reviewing the results of the
Feasibility Study and determining whether to prepare (with the collaboration of a Joint Project Team) a Development Project Proposal for such Candidate Compound based on such results. 

(vi)      Submitting Development Project Proposals (including notably any revisions
thereto) to the Management Committee for approval. Each Development Project Proposal shall include: 

(1)      Results of the Screening Activities; 

(2)      Conclusions of the Feasibility Study; 

(3)      A proposed Development Project Scope, which shall detail, inter alia, feedstock,
biotechnology based process and targeted Compounds for expected Products; 

(4)      A proposed Development Project Plan; 

(5)      A proposed Improvement Scope; 

(6)      A proposed Commercialization Plan for the Product(s) which are intended to result
from the Development Project (including the production plan for use of the relevant Commercial Strains and Commercial Compounds to produce such Product(s), anticipated capital expenditures and operating expenses, timing for market entry and
evaluation of market acceptance, supply chain analysis and sharing of the profits); and 

(7)      If it is a New Technology Project, a description of any TOTAL Included IP and
AMYRIS Included IP for such relevant Development Project. 

(vii)      Reviewing the Development Projects at each milestone or any time when it
can be reasonably anticipated that either a milestone will not be reached as per the applicable Development Project Plan or that issues have arisen that might significantly impede the planned progress of the Development Project or the commercial
success or viability of the intended final Product(s) and then-current Commercialization Plan and deciding whether to: (i) agree that the Development Project should continue under the then current Development Project Plan, (ii) propose
revisions to the Development Project Plan (including, if applicable, the then current Commercialization Plan) for approval by the Management Committee, or (iii) propose that the Management Committee abandon the Development Project. 

(viii)      Reviewing the Development Project Plans (including, if applicable, the
then-current Commercialization Plans and, if applicable, the then-current Improvement Scopes) and proposing updates thereto to the Management Committee, or in the case of non-major updates to a Development Project Plan, approving such updates (where
the Management Committee shall define what constitutes a non-major update from time to time and notify the JSC). 

(ix)      Encouraging and facilitating communication between the Parties with
respect to the R&D Activities. 
  

 22 

 (x)      Managing the conduct and
monitoring the progress of the R&D Activities, including administrative activities reasonably related thereto. 

(xi)      Reviewing and approving of any updates to the Operating Protocol.

 (xii)      Communicating to the Parties the progress of the Development
Project and coordinating the Parties’ activities in connection therewith. 

(xiii)      Carrying out such other duties and responsibilities as are described
for it in this Agreement. 
 For clarity, the JSC shall not have any ability or authority to modify the terms of
this Agreement. 
 (d)      Joint Project Team. In connection with
commencing R&D Activities with respect to a given project, the Joint Steering Committee shall form a Joint Project Team for such project. Each Joint Project Team shall be composed of employees from AMYRIS and Seconded Employees (the number of
FTEs to be set by the Joint Steering Committee at any given time based on ongoing activities, and the individual employees, to be proposed by the employer-Party and approved by the Joint Steering Committee) and shall be located at AMYRIS Laboratory
Facilities, as appropriate to the work to be performed. The Parties shall allocate competent employees to work on each Joint Project Team with relevant competencies, skills and experience. Each Joint Project Team shall be responsible with respect to
the applicable project for: 
 (i)      Conducting the R&D Activities,
including notably the Feasibility Studies and Development Projects, but excluding the Screening Activities; 

(ii)      Cooperating with the Joint Steering Committee for the preparation of the
Feasibility Plan and the Development Project Plan (including any proposed revised Development Project Plan and Improvement Scope); and 

(iii)      Preparing reports to the Joint Steering Committee, indicating the
progress and status of the Feasibility Study(ies) and Development Project(s). 

(e)      Talent Development and Culture Committee. After the Effective Date, the
Parties shall form a Talent Development and Culture Committee to coordinate regarding their respective human resources matters, such as talent development and culture, relating to personnel performing activities under the R&D Activities under
the R&D Collaboration. The Talent Development and Culture Committee shall be composed of employees from AMYRIS and TOTAL (the number of representatives and the individuals shall be approved by the Parties). The Parties shall appoint competent
employees to the Talent Development and Culture Committee. The Talent Development and Culture Committee shall, among other things, facilitate information sharing between the Parties with respect to the Seconded Employees. 

(f)      Discontinuation of Participation on a Committee. The Management Committee,
JSC, and Talent Development and Culture Committee and the project teams shall 
  

 23 

 
continue to exist until the first to occur of (i) the Parties mutually agreeing to disband any or all such committees, or (ii) either Party provides to the other Party written notice of
its intention to disband and no longer participate in any or all such committees, which each Party retains the right to do at any time during the Term, in its sole discretion. In the event a Party has provided written notice, or the Parties mutually
agree, as referred to in this Section 2.5(f), to disband any or all such committees, such affected committee(s) or team shall have no further force and effect or obligations under this Agreement, all responsibilities shall be reassigned to the
Parties, based on mutual agreement with dispute resolution as would apply under this Agreement in the case of an analogous decision by such committee or team, and each Party shall retain any final decision making authority assigned to it in this
Agreement with respect to the applicable subject matter. 
 2.6      Project
Research Commitment and Performance. 
 (a)    Joint Commitments of the Parties. 

 (i)      Each Party shall use Diligent Efforts to conduct and complete
its obligations in accordance with the Plans in a timely manner, which efforts, for purposes hereof, shall include promptly assigning responsibility for the relevant obligations to employees in a timely manner, identifying relevant information,
resources and facilities, monitoring performance of such employees, regularly communicating its research progress to the JSC, and making and implementing decisions to advance the progress of the R&D Activities in a timely manner, which decisions
are not otherwise allocated to a team or committee hereunder. For the avoidance of doubt, AMYRIS shall be solely responsible for assigning responsibilities to the Seconded Employees and AMYRIS personnel, and monitoring performance of R&D
Activities of the Seconded Employees and AMYRIS personnel under the R&D Collaboration. 

(ii)      Each Party shall conduct its activities under the R&D Collaboration
in compliance in all material respects with the requirements of all applicable laws and regulations (including any applicable laws and regulations relating to genetically engineered microorganisms), with industry standards and regulatory guidance;
as well as with good laboratory practices to attempt to achieve its objectives efficiently and expeditiously. AMYRIS shall maintain the AMYRIS Laboratory Facilities, and all other laboratories, offices and all other facilities reasonably necessary
to carry out the activities to be performed by it pursuant to the R&D Activities. TOTAL shall maintain all laboratories, offices and all other facilities reasonably necessary to carry out the activities to be performed by TOTAL pursuant to the
R&D Activities (other than activities to be performed by the Seconded Employees). Each Party shall prepare and maintain, or shall cause to be prepared and maintained, complete and accurate written records, accounts, notes, reports and data with
respect to activities conducted pursuant to the Plans as required under this Agreement, other than for such activities (e.g., reporting) assigned to a team or committee hereunder. 

(iii)      Within ninety (90) days from the Effective Date, the Parties shall
establish, through the Joint Steering Committee, an operating protocol based on good working practices to ensure the coordination of the Exploratory Team and each Joint Project Team, access to technology and operating capacities to conduct the
R&D Activities on the terms set forth in this Agreement and shall coordinate compliance with principles of AMYRIS policies and key TOTAL policies, both relating to health, safety, environmental and ethics in the conduct of R&D

  

 24 

 
Activities conducted by the Parties or their respective employees (“Operating Protocol”). Each Party shall comply with the Operating Protocol in connection with its R&D
Activities at the AMYRIS Laboratory Facilities. 
 (iv)      Each Party,
through the applicable Joint Project Team, shall provide reasonable updates of the progress of the R&D Collaboration to the JSC at least quarterly and shall provide any requested data or information resulting therefrom upon request by the other
Party. Each Party, through the applicable Joint Project Team shall report to the JSC, and the JSC shall report to the Management Committee promptly after such Party is aware of any significant or potentially patentable Collaboration IP. 

(b)    AMYRIS Contributions. 

(i)      AMYRIS shall provide the funding to the extent it is obligated to in
Section 2.7. 
 (ii)      AMYRIS shall grant the licenses described
in Article 6. 
 (iii)      AMYRIS shall participate in the research and
commercialization of the Products to the extent specified in Article 3. 

(iv)      AMYRIS shall pay all amounts due under this Agreement in accordance with
the provisions set forth in Articles 4 and 5. 
 (v)      After the
Effective Date, AMYRIS shall dedicate and maintain the AMYRIS Laboratory Resources reasonably expected to be necessary or useful to meet or exceed the milestones and objectives as set forth in the applicable Plan (consistent with the activities
assigned to AMYRIS in the applicable Plan). Prior to the approval of any of the Plans for a Development Project, if AMYRIS duly justifies that it has insufficient AMYRIS Laboratory Resources for any specific Development Project, then the Parties may
agree to increase the capacity of AMYRIS Laboratory Resources upon terms to be agreed in writing by the Parties, and such resources shall be dedicated in priority to such R&D Activities for which the Parties decided to increase AMYRIS Laboratory
Resources; provided, however, that in no event will such increase hamper AMYRIS’ other research and development activities or the other ongoing R&D Activities. 

(vi)      Allocation of AMYRIS Laboratory Resources. TOTAL shall have access to
(A) the detailed information considered by and decisions of the AMYRIS Technical Executive Committee as such information and decisions relate to the allocation of the AMYRIS Laboratory Resources for the performance of the R&D Activities,
and (B) reasonable access to general information in relation to the allocation of AMYRIS Laboratory Resources for any other AMYRIS or Third Party projects (but for clarity, not access to the identity of any AMYRIS partners, the nature of the
projects or any confidential information relating to such partners or projects). 

(vii)      To the extent reasonably necessary for the performance of the R&D
Activities, AMYRIS shall use commercially reasonable efforts to maintain in full effect, and timely perform all its obligations under existing licenses and agreements in Exhibit A. 

 

 25 

 (viii)      In the event that
(x) an AMYRIS employee or contractor conceives or reduces to practice an Invention not related to the R&D Activities or Improvement Scope Activities, and (y) such Invention directly relates to any project of TOTAL or its Affiliates or
of any Third Party in partnership or collaboration with TOTAL or its Affiliates and was made using Confidential Information of TOTAL (or of a Third Party received from TOTAL), then AMYRIS agrees that such Invention shall be assigned by AMYRIS to
TOTAL or its designee and shall cause the employee or contractor to assign any such Invention to AMYRIS to support such assignment to TOTAL or its designee. 

(ix)      AMYRIS shall comply with its other obligations described in this
Agreement. 
 (c)    TOTAL Contributions. 

(i)      TOTAL shall provide the funding to the extent it is obligated to in
Section 2.7. 
 (ii)      TOTAL shall grant the licenses described in
Article 6. 
 (iii)      TOTAL shall participate in the research and
commercialization of the Products to the extent specified in Article 3. 

(iv)      TOTAL shall pay all amounts due under this Agreement in accordance with
the provisions set forth in Articles 4 and 5. 
 (v)      TOTAL shall use
commercially reasonable efforts to (A) maintain in full effect, and (B) timely perform all its obligations under existing licenses and agreements necessary to perform the Party’s respective obligations under this Agreement.

 (vi)      After the Effective Date, TOTAL shall dedicate and maintain
resources reasonably expected to be necessary or useful to meet or exceed the milestones and objectives as set forth in the applicable Plan (consistent with the activities assigned to TOTAL in the applicable Plan). 

(vii)      TOTAL shall comply with its other obligations described in this
Agreement. 
 (d)    TOTAL Employees Located at AMYRIS Laboratory Facilities.

 (i)      Certain employees of TOTAL or its Affiliates shall be seconded to
AMYRIS during the Term, to be located at AMYRIS Laboratory Facilities in Emeryville (United States) and/or Campinas, Sao Paulo (Brazil), as appropriate, and shall be engaged and directly involved in the R&D Activities within the R&D
Collaboration (the “Seconded Employees”). The Parties agree that, as soon as practicable following the Effective Date but in no event later than one hundred and twenty (120) days after the Effective Date, the Parties shall
enter into a written secondment agreement governing the secondment of the Seconded Employees as further described below or some other similar arrangement as agreed by the Parties (the “Secondment Agreement”), and the first Seconded
Employees shall promptly arrive at AMYRIS following 
  

 26 

 
the execution of the Secondment Agreement by both Parties (and no earlier). The number of such Seconded Employees is anticipated to vary during the Term of this Agreement, shall be consistent
with the R&D Activities approved by the Management Committee (or the Joint Steering Committee, if applicable) and shall not be so large as to jeopardize AMYRIS’ culture. The Seconded Employees shall work alongside AMYRIS employees engaged
in the R&D Collaboration as one unified team, through the Exploratory Team and Joint Project Team. AMYRIS shall provide desk, computer, telephone and laboratory space for such Seconded Employees as appropriate. TOTAL shall nominate one of the
Seconded Employees to serve as a coordinator between TOTAL and AMYRIS who shall report back to TOTAL on the R&D Collaboration and perform other administrative duties (the “TOTAL Coordinator”). Except for the TOTAL Coordinator,
prior to the secondment of each Seconded Employee, TOTAL shall propose each individual Seconded Employee in advance for prior approval by the Joint Steering Committee. The Joint Steering Committee shall carefully evaluate such proposal and shall not
unreasonably withhold its consent for the secondment of any such Seconded Employees to AMYRIS (provided, however, that withholding consent to the secondment of any employee of an Excluded Affiliate shall be deemed reasonable). Notwithstanding
anything else to the contrary in this Agreement, TOTAL shall be solely responsible for any salary, benefit, travel expenses or any other similar costs incurred by TOTAL with respect to the Seconded Employees or other employees of TOTAL or its
Affiliates engaged in R&D Activities (and such amounts shall be included in R&D Costs). 

(ii)      The terms of Secondment Agreement of the Seconded Employees shall include the
following: 
 (1)      That TOTAL or its Affiliate, as applicable, shall be
responsible for proposing and approving the final compensation package and promotion milestones for each Seconded Employee, provided that TOTAL shall provide relevant information regarding compensation package and promotion milestones to the Talent
Development and Culture Committee for review and comment; 
 (2)      That each
Seconded Employee shall travel to TOTAL’s or its Affiliate’s premises, or to other locations, upon TOTAL’s request, for reasons including participation in training sessions, participation in internal TOTAL seminars, scientific
exchanges with TOTAL colleagues, and participation in scientific conferences, as long as these requests do not interfere significantly with the R&D Activities and do not occupy more than four (4) weeks per 12 month period (sixteen
(16) weeks per 12 month period in the case of the TOTAL Coordinator); 

(3)      That TOTAL may require that any Seconded Employee work on projects outside of the
scope of the R&D Collaboration, so long as these requests do not interfere significantly with the R&D Activities and do not occupy more than 20% of the Seconded Employee’s total work-time over each 12 month period (provided that this
20% limitation shall not apply to the TOTAL Coordinator); provided that such Seconded Employee shall not use AMYRIS Laboratory Resources other than standard non-scientific office equipment other than in the performance of R&D Activities. For the
sake of clarity, neither TOTAL nor the Seconded Employee shall disclose to AMYRIS any Confidential Information of TOTAL relating to such other projects; 
  

 27 

 (4)    That each Seconded Employee shall report on
his/her R&D Activities under this R&D Collaboration to his/her then-current AMYRIS contact as defined in the Plans, and such contact will oversee such Seconded Employee’s participation in the R&D Activities; 

(5)    That each Seconded Employee may share with and report to TOTAL all information regarding
his/her R&D Activities under the R&D Collaboration (but not any other Confidential Information of AMYRIS, including any potential or ongoing projects and activities with any Third Party not directly involved in the R&D Activities) or any
Third Party from whom, through whatever confidential means are chosen by TOTAL, including communication with the TOTAL Coordinator; provided that TOTAL will ensure that such sharing, reporting and communication will comply in all respects with the
confidentiality, nonuse and other related obligations under this Agreement and shall be responsible for compliance with the foregoing by a Seconded Employee; 

(6)    That Seconded Employees are employees of TOTAL or an Affiliate of Total, as applicable, and
not employees of AMYRIS; 
 (7)    That in the event (i) a Seconded Employee conceives
or reduces to practice an Invention during the period of his or her secondment and such Invention is not related to the R&D Activities or Improvement Scope Activities and (ii) such Invention directly relates to any project of AMYRIS or its
Affiliates or of any Third Party in partnership or collaboration with AMYRIS or its Affiliates and was made using Confidential Information of AMYRIS (or of a Third Party received from AMYRIS), then TOTAL agrees that such Invention shall be assigned
by TOTAL to AMYRIS or its designee and shall cause the Seconded Employees to assign any such Invention to TOTAL to support such assignment to AMYRIS or its designee. All other Inventions by Seconded Employees shall be assigned to TOTAL or as
otherwise provided in this Agreement; and 
 (8)    Appropriate indemnification provisions
relating to the Seconded Employees. 
 2.7        Funding of R&D
Collaboration. In consideration for the rights and licenses granted under this Agreement, the Parties agree to fund the R&D Activities as set forth in this Section 2.7. 

(a)      For all R&D Activities (other than those relating to New Technology
Projects or the TOTAL R&D Option) undertaken by the Parties under this Agreement, the Parties shall share the R&D Costs for R&D Activities on an equal basis (50%/50%) or such other percentage as is agreed by the Parties in writing
(including R&D Costs associated with the selection of Candidate Compounds and Screening Activities), unless otherwise mutually agreed in writing and except as otherwise set forth in Sections 2.7(c) and 2.7(d) below. For all R&D Activities
relating to New Technology Projects, the Parties shall share the R&D Costs for R&D Activities as set forth in the preceding sentence; provided, however, that prior to commencement of such activities, the Parties shall negotiate in good faith
to agree on any adjustment in the Parties’ respective cost-sharing percentages required to take into account the nature of the project 

 

 28 

 
and the relative contributions of each Party and any Third Parties with which the Parties may collaborate on such New Technology Projects. 

(b)      All R&D Costs shall be payable “at cost” and included in the
calculations under this Agreement solely if they are reasonable and documented and consistent with the budget set forth in the applicable Plan. 

(c)      Notwithstanding Section 2.7(a) above, TOTAL or an Affiliate
designated by TOTAL shall finance the reasonable and documented R&D Costs for the R&D Activities conducted under the Screening Plans, Feasibility Plans and the Development Project Plans (other than a Development Project Plan for a TOTAL
R&D Option) approved by the Management Committee (or the Joint Steering Committee, if applicable) up to a cumulative amount of fifty million USD ($50,000,000). 

(d)      Notwithstanding Section 2.7(a) above, in the event that TOTAL
exercises the TOTAL R&D Option, TOTAL shall finance the R&D Costs relating to R&D Activities associated with the TOTAL R&D Option that are performed as and from the date of exercise of the TOTAL R&D Option, including Screening
Activities, if applicable. 
 (e)      R&D Costs associated with the
purchase of equipment funded by TOTAL under a Development Project Plan shall be fully tracked, and the equipment shall be owned by the Party specified by the Management Committee. If TOTAL is the owner (whether partial owner or complete owner), then
TOTAL and AMYRIS shall enter into an Equipment Loan Agreement covering the terms of the provision of such equipment. All equipment that is “specific to a Development Project” (in other words, specifically applicable to a certain Lead
Compound or specialized processing for such Lead Compound) shall be for the exclusive use of the R&D Collaboration. For the avoidance of doubt, the Management Committee (or the Joint Steering Committee, if applicable) shall designate when any
such equipment shall be considered “specific to a Development Project”. All equipment that is not “specific to a Development Project” shall be used for the R&D Collaboration or for the Improvement Scope Activities in priority
to any other uses by the Parties. 
 (f)      AMYRIS shall provide TOTAL
with an invoice at least thirty (30) days prior to the commencement of any calendar quarter reflecting the expected R&D Costs for which TOTAL is responsible under this Agreement during the immediate following Calendar Quarter, which invoice
shall be based on the budget in the applicable Plan. Following receipt of such invoice TOTAL shall pay AMYRIS, at least fifteen (15) days prior to the commencement of the applicable Calendar Quarter, for the portion of estimated R&D Costs
for which TOTAL is responsible, with the first payment being made prior to commencement of the applicable R&D Activities, whether or not at the start of the applicable Calendar Quarter. AMYRIS shall provide TOTAL with an updated invoice
reflecting the actual amount of the R&D Costs for which TOTAL is responsible hereunder within fifteen (15) days after the end of the Calendar Quarter. If AMYRIS’ R&D Costs for a given Calendar Quarter are less than the amount paid
by TOTAL in advance for such Calendar Quarter, then TOTAL shall deduct the difference from the next upcoming scheduled quarterly payment for the applicable project. If AMYRIS’ R&D Costs are greater than the advance payment from TOTAL, then
the upcoming scheduled quarterly payment shall be increased by the difference. At the end of each calendar year during the applicable 
  

 29 

 
Development Project, the total amount paid by TOTAL pursuant to this Section 2.7(f) shall be reconciled with AMYRIS’ R&D Costs incurred for the applicable project so that TOTAL has
paid the portion of R&D Costs incurred by AMYRIS for which TOTAL is responsible in this Agreement. AMYRIS shall pay TOTAL for any R&D Costs of TOTAL for which AMYRIS is responsible hereunder on a Calendar Quarter and as incurred basis where
any amounts owed by one Party to the other Party under this clause (f) may be handled by way of cash-netting if and as mutually agreed by the Parties in writing. 

2.8        Exclusivity. 

(a)      Once a Development Project Plan has been approved by the Management
Committee, the Parties shall work on such Development Project exclusively within the R&D Collaboration, and each Party agrees not to develop within the Development Project Scope any Lead Compound (and for clarity, the foregoing shall apply to
AMYRIS in the case of the R&D Option), either alone, with or through Affiliates (in the case of TOTAL where such Affiliate has received Confidential Information related to the particular Development Project) or with a Third Party during the term
of the Development Project and for a period of one year thereafter. If TOTAL exercises the TOTAL R&D Option, then TOTAL agrees not to develop any Lead Compound within the Development Project Scope of the project conducted under the TOTAL R&D
Option, either alone, with or through Affiliates or with a Third Party during the term of the Development Project and for a period of one (1) year thereafter outside of the R&D Collaboration. 

(b)      Furthermore, if a Party’s Management Committee representatives vote
against a Development Project Proposal and the other Party votes for a Development Project Proposal, then such Party shall not Develop the corresponding Lead Compound within the Development Project Scope either alone, with or through Affiliates or
with a Third Party for a period of one (1) year after such vote.  

(c)      If TOTAL has exercised the TOTAL R&D Option for a Development Project,
then AMYRIS shall not Develop the corresponding Lead Compound within the corresponding Development Project Scope either alone, with or through Affiliates or with a Third Party during the period in which the Development Project is being pursued under
the TOTAL R&D Option, and for a period of one (1) year thereafter. 

(d)      In the event that AMYRIS or any of its Affiliates desires to use any
TOTAL-Owned Collaboration IP to conduct research, development or production in collaboration with a Third Party (“At-Issue Activity”), it shall first provide TOTAL written notice containing a reasonably detailed description of the
project relating to the At-Issue Activity and a description of the terms available to participate in the At-Issue Activity (the “Proposed Project”). Neither AMYRIS nor its Affiliates shall commence the Proposed Project without TOTAL
or its Affiliates for a period of 60 days from the date of notice being given to TOTAL or until AMYRIS receives written notice from TOTAL that neither TOTAL nor its Affiliates desire to enter into such Proposed Project with AMYRIS, whichever is
earliest. If TOTAL provides notice to AMYRIS within such 60 day period that it or any of its Affiliates (other than Excluded Affiliates) desires to enter into such a transaction with AMYRIS or its Affiliates, then AMYRIS and its Affiliates shall not
commence the Proposed Project without TOTAL or its Affiliate, and 
  

 30 

 
AMYRIS or any of its Affiliates shall enter into an agreement for the Proposed Project with TOTAL (which agreement may include one or more Third Parties). In the event that AMYRIS desires to
modify the terms of any Proposed Project in any way that makes such transaction more favorable to AMYRIS (or potentially to TOTAL), AMYRIS shall provide written notice thereof to TOTAL and the 60 day period shall commence anew. In the event that
TOTAL provides no notice or declines in writing during the said 60 period, AMYRIS shall thereafter be free to engage in the Proposed Project either alone or with one or more Third Parties and, for clarity, the license grant provisions of
Section 6.5(d) shall apply. 
 3.        PRODUCTION AND
COMMERCIALIZATION 
 3.1      Purpose, Structure and
Management of the JV Company. 

(a)      Purpose.    If the Management Committee decides to use
a Commercial Strain and Commercial Compound for the production and commercialization of a Product(s) through a joint venture entity, the Parties shall negotiate in good faith to establish a joint venture legal entity (or such other legal entity
structure as the Parties may agree), in which each Party (either directly or indirectly through one or more of their Affiliates) shall be a 50% owner. Such joint venture entity shall use the relevant Commercial Strain and Commercial Compound to Make
and Sell Products developed through the R&D Collaboration (other than those developed through the TOTAL R&D Option) and to commercialize worldwide such Products in all markets, as set forth in the approved Commercialization Plan (or in any
approved revision thereto), which markets shall not include the Excluded Markets except as permitted in Section 3.5. Depending on the different Products and the different countries in which Products will be commercialized, and other relevant
considerations, the Parties may create one or more joint venture entities for the commercialization of the Products, each of which shall be owned 50/50 by the Parties or any of their respective Affiliates and referred to collectively as a single
“JV Company” in this Agreement. 

(b)      Structure.    The Parties shall agree on the structure
and the organization of the JV Company, so that the Parties (either directly or indirectly through one or more of their Affiliates) equally share (50%/50%) the control of such JV Company. Notwithstanding the foregoing, the Parties intend that
the JV Company shall be structured and organized, as reflected in the documents establishing the JV Company and reflecting each of the Party’s (or their Affiliates) resulting relationship to the JV Company, so that AMYRIS or its Affiliate has
the ability to consolidate the financial statements of the JV Company in accordance with U.S. GAAP, or such other accounting standards agreed by the Parties in writing from time to time. Notwithstanding the foregoing, if in the judgment of the
Parties’ independent auditors, TOTAL or its Affiliate can consolidate the financial statements of the JV Company while maintaining the ability of AMYRIS or its Affiliate to also consolidate such JV Company results, then TOTAL or its Affiliate,
as applicable, shall have the option to consolidate the financial statements of the JV Company. The Parties agree to cooperate in good faith regarding the form, location, structure or any other aspect of the JV Company in order to optimize the Tax
burden of each party resulting from the creation and operation of the JV Company or otherwise in order to address any tax considerations raised by either Party. 
  

 31 

 (c)    Management.    The JV
Company shall be governed by a Board of Directors (the “Board”). Unless otherwise agreed to in writing by the Parties, TOTAL and AMYRIS shall each appoint three (3) members to the Board and all decisions of the Board shall be
made by vote of any four (4) members of the Board. Unless otherwise agreed to in writing by the Parties, a quorum shall consist of four (4) members of the Board. The Board shall be responsible for, among other things, implementing the
Commercialization Plan (reviewing and revising if appropriate, including making the production decisions described in Section 3.2) and appointing officers and other key members of management of the JV Company. It is anticipated that the Board
may choose to establish committees from time to time to assist in the management of the activities of the JV Company. Unless the Parties otherwise agree, such committees shall have equal representation from both Parties and decisions shall be made
by a majority vote. Each Party shall bear its own costs for participation in the Board. 

3.2      Production and Commercialization. 

(a)      Production and Commercialization.    The intent of the
Parties is to Make and Sell and commercialize Products through the JV Company in accordance with a Commercialization Plan, unless otherwise permitted herein. The Commercialization Plan shall set forth the plans for producing the Product using the
Commercial Strain and the Commercial Compound and commercializing the resulting Product(s). Prior to commencement of any New Technology Project, the Parties shall negotiate in good faith to agree on any adjustments in the Parties’ respective
rights and obligations under this Section 3.2 and Section 3.3 to take into account the nature of the project and the relative contribution of the Parties (and any Third Parties). Unless otherwise agreed by the Parties, each Party and its
Affiliates shall not use any Commercial Strain or Commercial Compound to make a Product other than under Sections 3.2, 3.3 or 3.5. 

(b)      Carry.    If AMYRIS seeks to raise sufficient capital
to fund its participation in the production of Products through the JV Company, then AMYRIS may submit written notice to TOTAL requesting that TOTAL make an offer to “carry” AMYRIS’ capital obligations for such participation (a
“Carry Request”). The Carry Request shall include sufficient information in order for TOTAL to assess whether or not to offer AMYRIS a “carry”, including the amount of capital that AMYRIS desires for TOTAL to carry, a
proposed interest rate or rate of return, as applicable, and a repayment schedule. TOTAL shall have sixty (60) days following receipt of such Carry Request to submit, in its sole discretion, a written offer to AMYRIS that sets forth the
material terms of the “carry” (a “Carry Offer”). The Carry Offer may consist of the terms in AMYRIS’ Carry Request or may consist of entirely different terms, in TOTAL’s sole discretion (including guaranteeing a
Third Party loan to access sufficient capital or other terms). If TOTAL does not submit a Carry Offer to AMYRIS within such 60 day period, TOTAL shall be deemed to have not made a “carry” offer. AMYRIS shall have sixty (60) days to
notify TOTAL in writing of its acceptance or rejection of a Carry Offer submitted by TOTAL, and a failure to accept a Carry Offer within such 60 day period shall be deemed a rejection of such Carry Offer. If AMYRIS accepts TOTAL’s Carry Offer,
the Parties agree to negotiate in good faith to enter into a definitive agreement memorializing the accepted terms and conditions of the Carry Offer. 
  

 32 

 (c)      The Parties shall use
commercially reasonable efforts to develop through the JV Company (under conditions to be agreed in the Commercialization Plan) at least the first large scale commercial plant for each Product (including Large Market Products and non-Large Market
Products). 
 (d)      Under certain conditions described herein the
production and commercialization of Products may be done independently by each Party or any of its Affiliates (including with the participation of one or more Third Parties) outside the JV Company as follows: 

(i)      for Large Market Products, production and commercialization may be
conducted by one or both Party(ies) or its Affiliate(s) independently from one another and from the JV Company, provided that the applicable Party or its Affiliate shall offer to the other Party a “Production Right of First Refusal”
as described in this subclause (i) to participate in such Party’s or its Affiliate’s investment, production or commercial arrangement (as the case may be) in relation to such Product(s) as described in this paragraph. In the event
that a Party or any of its Affiliates (“Proposing Party”) desires to independently (either alone or with one or more Third Parties) Make and Sell and commercialize a particular Product among the Large Market Products, it shall first
provide the other Party hereto (the “Receiving Party”) written notice containing a description of the project and a description of the terms available to participate in the investment, production or commercialization thereof (the
“Proposed Project”). The Proposing Party shall not commence the Proposed Project without the Receiving Party for a period of sixty (60) days from the date of notice being given to the Receiving Party or until Proposing Party
receives written notice from Receiving Party that Receiving Party does not wish to enter into such Proposed Project with Proposing Party, whichever is earliest. If Receiving Party provides notice to Proposing Party within such sixty (60) day
period that Receiving Party or any of its Affiliates desires to enter into such a transaction with Proposing Party on such terms and conditions, then Proposing Party shall not commence the Proposed Project without the Receiving Party or its
Affiliate, and the Receiving Party or any of its Affiliates shall enter into an commercial agreement for the Proposed Project with the Proposing Party (which commercial agreement may include one or more Third Parties). In the event that the
Proposing Party desires to modify the terms of any Proposed Project in any way that makes such transaction more favorable to Proposing Party (or potentially to Receiving Party), Proposing Party shall provide written notice thereof to Receiving Party
and the sixty (60) day period shall commence anew. In the event that the Receiving Party provides no notice or declines in writing during the said sixty (60) period, the Proposing Party shall thereafter be free to engage in the Proposed
Project either alone or with one or more Third Parties. If the Receiving Party rejects or otherwise does not enter into the Production Right of First Refusal within the relevant time period in this paragraph above, then the Proposing Party shall pay
the Receiving Party a royalty to be agreed upon in the Commercialization Plan in an amount between [*] to [*] (or such other rate as may be mutually agreed in the Commercialization Plan) of the Net Income deriving from such projects. The royalty due
under this paragraph shall be calculated in the manner described in Exhibit D. 

(ii)      for any Products other than the Large Market Products, while it is the
intent of the Parties to Make and Sell and commercialize such Products through the JV Company and the relevant Commercialization Plan, if there is a substantial material change in 

 
 * Certain information on this page has been omitted and filed separately with
the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 33 

 
the assumptions underlying such Commercialization Plan such that a Party can demonstrate “good reason” not to follow such Commercialization Plan (i.e., where “good reason”
means that (x) such express assumptions are not met and the failure to meet such assumptions causes a Party to reasonably conclude that the Commercialization Plan is no longer commercially viable as written; or (y) the other Party
materially fails to perform its obligations in connection with such Commercialization Plan), and if the Board cannot agree on a new Commercialization Plan, then each Party may decide to Make and Sell such Product independently, provided that:

  

	 	A)	 the producing Party shall pay the non-producing Party a royalty to be agreed upon in the Commercialization Plan in an amount between [*] to [*] (or
such other rate as may be mutually agreed in the Commercialization Plan) of the Net Income deriving from such projects and calculated in accordance with Exhibit D; and 

 

	 	B)	 The producing Party shall enter into a marketing agreement with the JV Company to optimize market access with respect to the Product for both the
producing Party and the JV Company to be approved by both Parties. 

(e)      Disclosures. Promptly following a request, AMYRIS shall disclose to the JV
Company or, in the event that TOTAL has the right under this Agreement to commercialize any Compound(s) or Product(s), TOTAL or an Affiliate designated by TOTAL, all then-existing applicable AMYRIS Technology that is licensed to the JV Company or
TOTAL or its Affiliates, as applicable, that is relevant to the use of the Commercial Strain to create Commercial Products produced therefrom, solely to the extent necessary or reasonably useful to enable the JV Company or TOTAL or its Affiliates,
as applicable, to Make and Sell the Commercial Products. Such disclosure is to occur as soon as commercially practicable and on a schedule reasonably determined by the Parties. TOTAL shall reimburse AMYRIS’ actual out-of-pocket costs paid to
Third Parties for such transfer and for any AMYRIS FTEs at the AMYRIS FTE Rate. 

(f)      JV Company Costs and Revenues. Unless otherwise agreed (i) in the
Commercialization Plan approved by the Management Committee and in place when the applicable Product is contributed to the JV Company; (ii) in the Commercialization Plan as it may be revised by the Board; or (iii) as otherwise agreed in a
written agreement of the Parties, the costs and revenues of the JV Company shall be equally shared (50%/50%) among the Parties, except as follows. If TOTAL has not achieved an Internal Rate of Return of 20% with respect to the applicable
Product after the initial three year period (or such period as otherwise agreed between the Parties in writing) from the date of First Commercial Sale, TOTAL shall be entitled to receive 100% of all distributable income with respect to such Product
from the JV Company until TOTAL has achieved such Internal Rate of Return. 

3.3      Production and Commercialization Resulting From TOTAL’s Exercise of the
TOTAL R&D Option.    If TOTAL exercises the TOTAL R&D Option, then TOTAL or its Affiliates have the exclusive (other than in the Excluded Markets) right to use a Commercial Strain to Make and Sell any Commercial
Compound(s) or Product(s) independently as permitted under this Agreement with respect to any such Commercial Strain, Commercial Compound or Product resulting from TOTAL’s exercise of the TOTAL R&D Option at the R&D Project Phase, then
AMYRIS shall receive a royalty equal to [*] of Net Income from TOTAL’s (or its 
  

* Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

 34 

 
Affiliates) production and commercialization activities with respect to such Product, except as follows. If TOTAL and its Affiliates, collectively, have not obtained an Internal Rate of
Return of twenty percent (20%) with respect to such Compound or Product following the initial three year period from the date of First Commercial Sale (or such other time period agreed between the Parties in writing) of such Compound(s) or
Product(s), TOTAL (or its Affiliates) shall be entitled to retain 100% of all Net Income until it has achieved such Internal Rate of Return. The royalty due under this paragraph shall be calculated in accordance with Exhibit D. 

3.4      TOTAL Access to JV Company Products.    When making
decisions about how to commercialize Products, the JV Company shall grant TOTAL and its Affiliates the first right to make an offer to purchase any JV Company Product at market price and under “most favored nation” terms. As used in this
paragraph, “most favored nation” terms means that the terms and conditions (including price, discounts, favorable delivery terms etc.) granted by the JV Company to any Third Party shall be offered by the JV Company to TOTAL and its
Affiliates. In addition to the foregoing, TOTAL and its Affiliates shall be a first priority customer of the JV Company, meaning that (i) Products are offered to TOTAL and its Affiliates first (prior to its other Third Party customers); and
(ii) at any time there is a greater demand than supply of Products for a particular period, such Products shall first be allocated to TOTAL and its Affiliates prior to allocation to any Third Party customer. Notwithstanding the foregoing, for
the “most favored nation” terms and the “first priority customer”, the JV Company shall make any decisions considering the best interests of the JV Company as a whole, including optimizing the JV Company as a whole, including
optimizing the JV Company supply and demand planning and profits and not harming the JV Company’s relationship with its long-term, strategic customers. 

3.5      Products for Excluded Markets.    Subject to any
prohibitions in this Agreement, AMYRIS has the exclusive right to use any and all Commercial Strains to Make and/or Sell Commercial Compounds or Products (including any jointly developed Commercial Compound or Product) in the Excluded Markets,
provided that in the case of the TOTAL R&D Option TOTAL retains the right to make or have made Commercial Compounds or Products for the Excluded Markets for the exclusive supply to AMYRIS; subject to the following: If (a) both Parties have
jointly developed a Product during the R&D Collaboration that has an application and can be commercialized in one or more Excluded Markets, and (b) if AMYRIS Makes and Sells such Compound or Product independently in an Excluded Market, and
(c) the JV Company or TOTAL independently is not producing such Compound or Product for the non-Excluded Market; then AMYRIS shall provide TOTAL a share of Net Income on such Compound or Product calculated in the same percentage as the Parties
would have shared profits for such Compound or Product if they had commercialized it through a JV Company in a non-Excluded Market until TOTAL has recovered the R&D Costs funded by TOTAL that are associated with such Compound or Product with an
Internal Rate of Return of twenty percent (20%). If the JV is producing any Product or Compound for a non-Excluded Market, then the Parties agree that the JV Company (or TOTAL in the case of the R&D Option) will grant AMYRIS exclusive preferred
access to purchase any such JV Company Compound and/or Product at market price for sale by AMYRIS or its designee in the Excluded Markets. Notwithstanding the foregoing, that for the exclusive “preferred access” terms the JV Company shall
make any decisions considering the best interests of the JV Company as a whole, including optimizing the JV Company as a whole, including optimizing the JV Company supply and demand planning and profits. 

 

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 3.6      Additional Collaboration
and Agreement between the Parties.    The Parties acknowledge and agree that in no event shall a breach of this Section 3.6 constitute a material breach of this Agreement (and for clarity shall not give rise to a
termination right under Section 10.2), provided that the foregoing shall not be construed to limit the possibility that such breach may be a material breach of this Section 3.6. 

(a)      Given the strategic cooperation between TOTAL and AMYRIS, TOTAL and its
Affiliates shall have access to purchase and market all products (including Products) produced by or on behalf of AMYRIS or any of its Affiliates (other than products intended for an Excluded Market), under terms not less favorable than those
offered to or received from Third Parties by AMYRIS, in any market that TOTAL or its Affiliates has a significant market position (meaning ranked between one and three in terms of sales based on figures reasonably provided by TOTAL for a particular
market) for the particular product or any similar product; provided further that in making the determination of the terms required to be offered to TOTAL or its Affiliates under this Section 3.6(a), AMYRIS need not take into consideration the
terms included in any commercial agreements with Third Parties who have provided material funding assistance or other terms or license rights of material value for the development or commercialization of such product (whether such agreement is
entered into before or after the Effective Date). Notwithstanding the foregoing, if AMYRIS undergoes a transaction in which a Third Party acquires control of AMYRIS (where control is as defined in the definition of Affiliates), the Affiliates of
AMYRIS subject to the provision of this Section 3.6(a) shall be limited to those Affiliates of AMYRIS that exist immediately prior to such transaction. 

(b)      The Parties intend that, at AMYRIS’ discretion, they will cooperate
in Europe to jointly develop a regulatory and distribution strategy for access to the European market for products that are not Products. 

(c)      Prior to entering into a negotiation for an arrangement to sell any
product (but excluding products for which one or more Third Parties provided material funding assistance or other terms or license rights of material value for the development or commercialization of such product (whether such agreement is entered
into before or after the Effective Date)) on an exclusive basis to a F-1 TOTAL Competitor, AMYRIS shall provide written notice to TOTAL and shall grant to TOTAL the right of first negotiation to enter into an exclusive arrangement for such product
on terms at least as favorable as those AMYRIS contemplates offering to any such F-1 TOTAL Competitor. AMYRIS will negotiate such terms in good faith with TOTAL for a period of not less than [*]. During the time period that AMYRIS is negotiating
such arrangement with TOTAL, AMYRIS shall not negotiate such an arrangement with any F-1 TOTAL Competitor. 

4.        ROYALTY TERM 

As to sales of a particular Product subject to royalty payment under this Agreement on a country-by-country basis, the royalty payment
obligation shall be owed and payable for all sales of the Product by the applicable Party in such country occurring during the Royalty Term. 
  

* Certain information on this page 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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 5.        PAYMENT; RECORDS;
AUDITS 
 5.1      Payment;
Reports.    Royalty obligations under Article 3 and Article 6 shall accrue upon the sale of each Product (and where applicable pursuant to Article 10, products) during a particular Calendar Quarter. Within thirty
(30) days after the end of each Calendar Quarter during which there were sales of Products, the Parties shall prepare and send to each other written reports (each, a “Quarterly Royalty Report”) setting forth the following in
detail for each Product sold by such Party during the Calendar Quarter and for each country of sale: (a) the number of Products sold and gross invoiced amounts for the sales during the Calendar Quarter of each Product in each country by such
Party, its Affiliates and sublicensees; (b) the calculation of Net Income based on such sales; and (c) the royalty payments payable and the method used to calculate the royalty payments, and the exchange rates used. Within forty-five
(45) days after the end of such Calendar Quarter, the Parties shall reconcile all royalties payable based on Net Income during such Calendar Quarter to determine the net royalty payment payable from one Party to the other Party and the Party
with a payment obligation shall be provided with written notice of such payment obligation. All net royalty payment obligations based on Net Income during a Calendar Quarter shall be due and payable by the Party with the royalty payment obligation
to the other Party within sixty (60) days of the end of the Calendar Quarter. 

5.2      Exchange Rate; Manner and Place of Payment.    All
payments owed under this Agreement shall be payable and made in U.S. dollars. When conversion into U.S. dollars of any amounts of sales made in any foreign currency is required, such conversion shall be at an exchange rate equal to the rate of
exchange for the currency of the country from which the royalty payments are payable on the last business day of the applicable Calendar Quarter as published by The Wall Street Journal, Eastern U.S. Edition. All payments owed under this
Agreement shall be made by wire transfer in immediately available funds to a bank and account designated in writing by TOTAL or AMYRIS (as applicable), unless otherwise specified in writing by such Party. 

5.3      Withholding Taxes.    All amounts due and payable under
this Agreement (including all royalty amounts) may be subject to deduction for withholding taxes. If any withholding taxes are required to be withheld by a Party, such Party will (a) timely pay the withholding taxes to the proper taxing
authority, and (b) send proof of payment to the other Party and certify its receipt by the taxing authority within thirty (30) days following such payment. Any such amounts paid to a taxing authority with regard to payments made to, or
income earned by, another Party shall (i) be deducted from any payments due such other Party under this Article 5 for such Calendar Quarter, and (ii) to the extent the amount of withholding taxes exceeds the amount of such payments due
such other Party for such Calendar Quarter, give rise to a payment obligation to be settled in accordance with this Article 5 from the other Party to the Party that withheld and paid over the Taxes. No Party shall be obligated to gross-up or true-up
any amounts due to the other Party as a result of any withholding taxes paid. 

5.4        Audits. 

(a)      R&D Costs.    Each Party shall keep (and shall
cause its Affiliates and sublicensees to keep) complete and accurate records pertaining to their respective R&D Costs (including all FTEs actually working on the R&D Collaboration) in sufficient detail to permit the

  

 37 

 
other Party (the “Auditing Party” to confirm the accuracy of the R&D Costs (including all costs underlying the AMYRIS FTE Rates and Related Allocation as set forth in Exhibit
E and analogous costs for TOTAL) charged (in whole or in part) to the Auditing Party. Such records shall be kept for a period of two (2) years following the relevant reporting period. The Auditing Party shall have the right to cause an
independent, certified public accountant reasonably acceptable to the other Party (the “Audited Party”) to audit such records to confirm their accuracy. Such audits may be conducted no more than once during each twelve (12) month
period and shall be made during normal business hours upon reasonable prior written notice to the Audited Party. Such accountant shall enter into a customary confidentiality agreement with the Audited Party in form and substance reasonably
acceptable to the Audited Party to keep all information inspected in such audit confidential, except that such accountant may report to the Auditing Party and the Audited Party the results of such audit, including any inaccuracies in any invoices or
amounts paid to the Audited Party by the Auditing Party and the factual bases for such inaccuracies. Any such audit shall be for the sole purpose of verifying the Audited Party’s R&D Costs funded by the Auditing Party. Results of any such
audit hereunder shall be made available promptly to both Parties in writing. If any such audit shows that the Auditing Party overpaid the Audited Party amounts actually owed under this Agreement, the Audited Party shall reimburse to the Auditing
Party within thirty (30) days of the date such audit results are provided to the Audited Party the amounts of such overpayment, with interest at the prime rate of interest quoted in the Money Rates section of the Wall Street Journal (New York
Edition) calculated annually (or the maximum legal annual interest rate, whichever is lower) from the date such amount was actually owed under this Agreement until the Audited Party actually pays the Auditing Party such amounts of overpayment. If
any such audit shows that the Auditing Party underpaid the Audited Party amounts actually owed under this Agreement, the Auditing Party shall pay to the Audited Party within thirty (30) days of the date such audit results are provided to the
Auditing Party the amounts of such underpayment. The Auditing Party shall bear the actual cost of its auditors conducting an audit. 

(b)      Royalty Reports.    Each of the Parties shall keep
(and shall cause their Affiliates and sublicensees to keep) complete and accurate records pertaining to their Net Income and sale or other disposition of Products and to the matters relating to other payment obligations of the Parties hereunder in
sufficient detail to permit the other Party to confirm the accuracy of all royalty and other payments due under this Agreement. Such records shall be kept for a period of three (3) years following the relevant reporting period. Each Party (an
“Auditing Party”) shall have the right to cause an independent, certified public accountant reasonably acceptable to the other Party (an “Audited Party”) to audit such records to confirm the accuracy of the
Quarterly Royalty Reports, the royalty payments made and other payments made. Such audits may be conducted no more than once during each calendar year and shall be made during normal business hours upon reasonable prior written notice to the Audited
Party. Such accountant shall enter into a customary confidentiality agreement with the Audited Party in form and substance reasonably acceptable to the Audited Party to keep all information inspected in such audit confidential, except that such
accountant may report to both Parties the results of such audit, including any inaccuracies in any Quarterly Royalty Reports or amounts paid to the Auditing Party by the Audited Party and the factual bases for such inaccuracies. If any such audit
shows that the Audited Party underpaid the Auditing Party amounts actually owed under this Agreement, the Audited Party shall pay to the Auditing Party within thirty (30) days of the date such audit results are provided to the Audited Party the
amounts of such underpayment, with 
  

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interest at the prime rate of interest quoted in the Money Rates section of the Wall Street Journal (New York Edition) calculated annually (or the maximum legal
annual interest rate, whichever is lower) from the date such amount was actually owed under this Agreement until the Audited Party actually pays the Auditing Party such amounts of underpayment. The Auditing Party shall bear the actual cost of its
auditors conducting an audit unless the audit discloses an underpayment by the Audited Party of the greater of $25,000 or five percent (5%) or more than the amount of royalty payments or other payments due under this Agreement for the period
audited, in which case the Audited Party shall bear the reasonable out-of-pocket costs actually incurred by the Auditing Party in connection with such audit and shall promptly remit to the Auditing Party the underpayment amount and the costs of the
audit upon the Auditing Party providing invoices with reasonably detailed supporting documentation showing the costs of the audit. 

6.        INTELLECTUAL PROPERTY 

6.1      Ownership. 

(a)      Background IP.    Subject to the license grants set
forth in this Agreement, (i) TOTAL shall retain all of its right, title and interest in and to the TOTAL Background IP, and (ii) AMYRIS shall retain all of its right, title and interest in and to the AMYRIS Background IP. Notwithstanding
any other provision of this Agreement, TOTAL Background IP shall not be deemed to be introduced as TOTAL Included IP in any aspect of R&D Activities, Improvement Scope Activities, or Commercialization activities without an express election by
TOTAL and by following the process set forth in Section 6.1(c)(i) below. 

(b)      Non-Collaboration IP.    Subject to the license grants
set forth in this Agreement with respect to Included IP, (i) TOTAL shall retain all of its right, title and interest in and to the TOTAL Non-Collaboration IP, and (ii) AMYRIS shall retain all of its right, title and interest in and to the
AMYRIS Non-Collaboration IP. Notwithstanding any other provision of this Agreement, TOTAL Non-Collaboration IP shall not be deemed to be introduced as TOTAL Included IP in any aspect of R&D Activities, Improvement Scope Activities, or
commercialization activities without an express election by TOTAL and by following the process set forth in Section 6.1(c)(i) below. Notwithstanding any other provision of this Agreement, AMYRIS Non-Collaboration IP shall not be deemed to be
introduced as AMYRIS Included IP in any aspect of R&D Activities, Improvement Scope Activities, or commercialization activities without an express election by AMYRIS and by following the process set forth in Section 6.1(c)(i) below, other
than AMYRIS Non-Collaboration IP which is automatically deemed to be AMYRIS Included IP as set forth in Section 6.1(c)(ii). 

(c)      Included IP. 

(i)      From time to time during the Term of this Agreement, a Party may choose, in
its sole discretion, to introduce its Non-Collaboration IP and/or its Background IP into the R&D Collaboration to facilitate the performance of the R&D Activities, the activities of a JV Company related to a Product or under the Improvement
Scope Activities. In each such case, such Party shall provide advance written notice to the Joint Steering Committee identifying the nature of such Non-Collaboration IP and/or such Background IP and a proposal for how such

  

 39 

 
Non-Collaboration IP and/or Background IP, as applicable, may be used in the R&D Collaboration, the activities of a JV Company related to a JV Product or the Improvement Scope Activities. If
the Joint Steering Committee agrees to accept the terms under which the Non-Collaboration IP and/or Background IP, as applicable, may be used in the R&D Collaboration or the activities of a JV Company related to a JV Product or the Improvement
Scope Activities, such Non-Collaboration IP and/or Background IP, as applicable, shall become Included IP. In any event, each Party agrees not to assert infringement of any intellectual property it Controls by the other Party or any of its
Affiliates for asserting its rights, or performing its obligations, under the Agreement or the documents establishing the JV Company. 

(ii)    Notwithstanding the following, any AMYRIS Background IP and AMYRIS Non-Collaboration
IP, in each case, encompassing general means of practicing synthetic biology, including without limitation, methods and means to construct and test a Strain (including without limitation all related software, workflow, apparatus or arrangement of
apparatuses, knowledge database systems, processes, systems and technology for the design, selection, engineering and development of Strains) shall be deemed AMYRIS Included IP without further action on the part of AMYRIS or the Joint Steering
Committee, and such AMYRIS Included IP may be utilized by the Parties for the performance of the R&D Activities, the activities of a JV Company related to a Product or the Improvement Scope Activities, according to the terms of the Agreement.
However, TOTAL may veto the inclusion of selected AMYRIS Non-Collaboration IP that would otherwise constitute Included IP, but such veto must be exercised in connection with the voting of its representatives on the Joint Steering Committee.

 (iii)    From time to time during the Term of this Agreement, Inventions
Controlled by a Third Party may be used in the performance of the R&D Activities, the activities of a JV Company related to a Product and the Improvement Scope Activities. Terms and provisions relating to such Third Party Inventions shall be
agreed on in writing by the Parties on a case by case basis. 

(d)      Collaboration IP. 

(i)      AMYRIS-Owned Collaboration IP.    As between the
Parties, subject to the license grants set forth in this Agreement, AMYRIS shall have sole and exclusive ownership of all right, title and interest on a worldwide basis in and to the AMYRIS Tools IP and MEV Pathway IP conceived and reduced to
practice in the performance the R&D Activities and/or the performance of activities on behalf of the JV Company related to a Product or the means of making the Product (“AMYRIS Owned Collaboration IP”). TOTAL hereby assigns to
AMYRIS, without further consideration, all right, title and interest that TOTAL may have from time to time (other than by virtue of the license grants in this Article 6) in any AMYRIS Tools IP and MEV Pathway IP and shall, at AMYRIS’ reasonable
expense, execute all documents and take all actions reasonably requested by AMYRIS from time to time to perfect AMYRIS’ title to and ownership thereof. 

(ii)      Jointly-Owned Collaboration IP.    As between the
Parties, subject to the license grants set forth in this Agreement, AMYRIS and TOTAL shall have joint ownership of all right, title and interest on a worldwide basis in and to the New Tools IP and Main IP conceived and reduced to practice in the
performance of the R&D Activities and/or the 
  

 40 

 
performance of activities on behalf of the JV Company related to a Product or the means of making the Product, other than TOTAL Owned Collaboration IP (“Jointly Owned Collaboration
IP”). Each Party shall have the right to use and exploit all Jointly-Owned Collaboration IP without duty to account to the other joint owner and without obligation to obtain consent of the other joint owner, except as may otherwise be
provided in the Agreement or in the documents establishing the JV Company. Notwithstanding the foregoing, a license under each Party’s respective Background IP and Non-Collaboration IP, if required for the other Party’s use and
exploitation of Jointly-Owned Collaboration IP, is not granted herein unless otherwise expressly provided in this Article 6. Each Party shall have an undivided one half ownership interest in such Jointly-Owned Collaboration IP and each Party hereby
assigns to the other Party, without further consideration, such right, title and interest that it may have from time to time (other than by virtue of the license grants in this Article 6) in any and all Jointly-Owned Collaboration IP as required to
effect such co-ownership. 
 (iii)      TOTAL-Owned Collaboration
IP.    As between the Parties, subject to the license grants set forth in this Agreement, TOTAL shall have sole and exclusive ownership of all right, title and interest on a worldwide basis in and to Main IP and New Tools IP
conceived and reduced to practice in the performance of R&D Activities under a New Technology Project conducted under the TOTAL R&D Option (the “TOTAL-Owned Collaboration IP”). AMYRIS hereby assigns to TOTAL, without further
consideration, all right, title and interest that AMYRIS may have from time to time (other than by virtue of the license grants in this Article 6) in any such IP and shall, at TOTAL’s reasonable expense, execute all documents and take all
actions reasonably requested by TOTAL from time to time to perfect TOTAL’s title to and ownership thereof. 

(iv)      Each Party shall have the right, on reasonable notice, to inspect and
review the specific records maintained by the other Party reflecting the Collaboration IP made by such other Party, solely to the extent reasonably needed by the reviewing Party for exercising its rights or performing its obligations under this
Agreement. 
 (e)      Improvement Scope IP. Improvement Scope IP will be
(a) jointly owned by TOTAL and AMYRIS, if the Improvement Right of First Refusal has been accepted by the corresponding Party (in a manner analogous to the Jointly-Owned Collaboration IP as described in Section 6.1.(d)(ii)) (the
“Jointly Owned Improvement Scope IP”), or (b) owned solely by the Improving Party (TOTAL , for the “TOTAL Owned Improvement Scope IP” or AMYRIS for the “AMYRIS Owned Improvement Scope IP”) if
the Improvement Right of First Refusal has been rejected by the other Party. 

6.2        Licenses to TOTAL Within the R&D Collaboration 

(a)      R&D Activities. AMYRIS hereby grants to TOTAL, as of the Effective
Date, a royalty-free worldwide, non-exclusive right and license, without the right to sublicense, to Develop under (i) AMYRIS Background IP, (ii) AMYRIS Included IP and (iii) AMYRIS Owned Collaboration IP, in each case solely to
conduct R&D Activities in accordance with the Agreement. 
  

 41 

 (b)      JV Activities. In the
documents establishing the JV Company, AMYRIS shall automatically grant to TOTAL a royalty-free worldwide, non-exclusive right and license, without the right to sublicense, to Make and Sell Products under (i) AMYRIS Background IP,
(ii) AMYRIS Included IP and (iii) AMYRIS Owned Collaboration IP, in each case solely to conduct activities on behalf of and in accordance with the documents establishing the JV Company. 

(c)      TOTAL R&D Option.    If as a result of the TOTAL
R&D Option a Product has been developed and TOTAL wishes to commercialize such Product as permitted in the Agreement, AMYRIS automatically grants to TOTAL a royalty-bearing (as provided in Section 3.3) worldwide, non-exclusive right and
license, without the right to sublicense except as otherwise provided in this Agreement, under (i) AMYRIS Background IP, (ii) AMYRIS Included IP and (iii) AMYRIS Owned Collaboration IP, in each case solely to Make and Sell such
Product in accordance with the Agreement outside of the Excluded Markets; provided, however, that such licenses will not permit further optimization of a Commercial Strain that is engineered to make a Compound through the Mevalonate Pathway other
than by means of mutagenesis (but will permit further optimization of a Commercial Strain that is not engineered to make a Compound through the Mevalonate Pathway without such limitation). For the avoidance of doubt, there will not be double payment
of royalties by TOTAL for the rights granted in this Section 6.2(c). 

6.3       Licenses to TOTAL Outside the R&D Collaboration 

(a)      Production Independent of the JV.    If TOTAL is
permitted under the terms of this Agreement to proceed with independent production and commercialization of a JV Company Product, AMYRIS automatically grants to TOTAL a royalty-bearing (as provided in Section 5.2) worldwide, non-exclusive right
and license, without the right to sublicense except as otherwise provided in the Agreement, under (i) AMYRIS Background IP, (ii) AMYRIS Included IP and (iii) AMYRIS Owned Collaboration IP, in each case solely to Make and Sell such
Product in accordance with the Agreement outside of the Excluded Markets; provided, however, that such licenses will not permit further optimization of a Commercial Strain that is engineered to make a Compound through the Mevalonate Pathway other
than by means of mutagenesis, except as permitted under Section 6.3(b) (but will permit further optimization of a Commercial Strain that is not engineered to make a Compound through the Mevalonate Pathway without such limitation). For the
avoidance of doubt, there will not be double payment of royalties by TOTAL for the rights granted in this Section 6.3(a). 

(b)      Improvement Scope Activities.    During the term of
the applicable JV Company (meaning that the JV or either or both of the Parties independently is permitted to produce under this Agreement), AMYRIS automatically grants to TOTAL, as of the date such JV Company is formed because the Management
Committee has decided to use a Commercial Strain and Commercial Compound for the production and commercialization of a Product(s), a royalty-free, worldwide, non-exclusive right and license, without the right to sublicense, to Develop such
Commercial Strain, Commercial Compounds and Product(s) under (i) AMYRIS Background IP, (ii) AMYRIS Included IP, and (iii) AMYRIS Owned Collaboration IP, in each case solely to conduct research and development activities within the
Improvement Scope (subject to the proper offer of the Improvement Right of First Refusal); provided, however, that 
  

 42 

 
such license is subject to the following additional restrictions: (A) TOTAL shall automatically grant a royalty-free, worldwide, exclusive right and license (subject to the reserved rights
of the Parties to conduct activities consistent with this Agreement), with the right to sublicense, to use any TOTAL-Owned Improvement Scope IP to the JV Company for its use for the production and commercialization of the relevant Product(s) of the
JV Company; and (B) TOTAL automatically grant AMYRIS a royalty-free worldwide, non-exclusive right and license, to use any such TOTAL-Owned Improvement Scope IP that is (i) related to the Mevalonate Pathway or (ii) is AMYRIS Tools IP,
provided that if AMYRIS utilizes any such TOTAL-Owned Improvement Scope IP for production and commercialization purposes, AMYRIS shall pay TOTAL an appropriate royalty to be determined in good faith by the Parties on a case-by-case basis.

 (c)      TOTAL Internal Research License on Mevalonate Pathway
Strains.    During the Term of the Agreement, AMYRIS hereby grants to TOTAL a royalty-free worldwide, non-exclusive license, without the right to sublicense, under (i) AMYRIS Background IP, (ii) AMYRIS Included IP
and (iii) AMYRIS Owned Collaboration IP, to conduct internal research using Permitted R&D Strains (at least 20% of the generated Permitted R&D Strains selected according to their phenotype, unless otherwise agreed by the Parties)
subject to the following: (A) TOTAL will report to AMYRIS on a quarterly basis its use of such AMYRIS Background IP, AMYRIS Included IP and AMYRIS Owned Collaboration IP in reasonable detail to permit AMYRIS to determine whether any Inventions
significantly related to the Mevalonate Pathway or DXP Pathway, respectively “MEV Improvements” and “DXP Improvements”, resulted from the use of any Permitted R&D Strain; (B) TOTAL grants AMYRIS the right to prosecute
any patent applications covering such MEV Improvements and DXP Improvements in TOTAL’s name; (C) TOTAL automatically grants AMYRIS a royalty-free worldwide, non-exclusive right and license, with the right to sublicense, to use such MEV
Improvements for any purpose and, without the right to sublicense, to use such DXP Improvements for any purpose, and (D) the internal research will not compete with an ongoing Development Project within the R&D Collaboration or the
activities of a JV Company (or a Party producing independently as permitted in this Agreement) for a particular Product within the Development Project Scope for such Product (unless a different scope is agreed to by the Parties). 

(d)      License for TOTAL to Practice Total-Owned Collaboration
IP.    AMYRIS automatically grants to TOTAL (i) a royalty-free, worldwide, non-exclusive license, without the right to sublicense, for research and development purposes and (ii) a worldwide, non-exclusive license,
without the right to sublicense, for the production and commercialization of Products for a royalty equal to [*] of Net Income from TOTAL’s (or its Affiliates) production and commercialization activities with respect to such Product or such
other royalty as agreed by the Parties, in each case to any AMYRIS Background IP, AMYRIS Included IP and AMYRIS Tools IP required for TOTAL to practice the TOTAL-Owned Collaboration IP so long as such AMYRIS Background IP, AMYRIS Included IP and
AMYRIS Tools IP is not (A) used on or derived from a Strain that is engineered to make a Compound through the Mevalonate Pathway or the DXP Pathway or (B) used to compete with an ongoing Development Project within the R&D
Collaboration, the activities of a JV Company (or a Party producing independently as permitted in this Agreement) for a particular Product within the Development Project Scope for 

 
 * Certain information on this page has been omitted and filed separately with
the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 43 

 
such Product (unless a different scope is agreed to by the Parties) or with the particular Product that is the subject of any applicable Total R&D Option Project. 

(e)      License to TOTAL to Practice Jointly-Owned Collaboration IP Outside the
Collaboration. AMYRIS automatically grants to TOTAL a (i) royalty-free, worldwide, non-exclusive license, without the right to sublicense, for research and development purposes and a (ii) royalty-bearing, worldwide, non-exclusive
license, without the right to sublicense, for production and commercialization purposes, on terms to be negotiated in good faith on a case-by-case basis, under any AMYRIS-Controlled intellectual property solely to the extent necessary to practice
any Jointly-Owned Collaboration IP for production and commercialization purposes, in each case, so long as the Jointly-Owned Collaboration IP is not (A) used on or derived from a Strain that is engineered to make a Compound through the
Mevalonate Pathway or the DXP Pathway or (B) used to compete with an ongoing Development Project within the R&D Collaboration or a JV Company (or a Party producing independently as permitted in this Agreement) for a particular Product
within the Development Project Scope for such Product (unless a different scope is agreed to between the Parties). Nothing in this provision limits the ability of a Party to proceed with production and commercialization of a Product independent of a
JV Company as otherwise expressly permitted under this Agreement. 

(f)      Additional Licenses.    If TOTAL desires to negotiate
any license to use AMYRIS Background IP, AMYRIS Non-Collaboration IP and, AMYRIS Owned Collaboration IP required to practice Jointly-Owned IP because such license is not otherwise granted (or contemplated to be granted) in the Agreement, AMYRIS
shall consider in good faith any proposal made by TOTAL in this regard on a case-by-case basis, which shall include payment of a royalty for access to such intellectual property. 

(g)      Limitation on Strain Engineering.    Notwithstanding
anything in this Agreement to the contrary, strain engineering on a Strain that is engineered to make a Compound through the Mevalonate Pathway or strain engineering using AMYRIS Tools IP must occur at AMYRIS Laboratory Facilities, unless otherwise
agreed by the Parties, except as permitted in Section 6.3(b) and (c). 

(h)      All licenses granted to TOTAL hereunder are hereby granted to all TOTAL
Affiliates, other than the Excluded Affiliates (except for licenses granted under Sections 6.2(b), 6.2(c) and 6.3(a), which may also be granted to Excluded Affiliates), in the same scope and subject to the same restrictions as granted to TOTAL
hereunder. 
 6.4      Licenses to AMYRIS Within the R&D Collaboration 

 (a)      R&D Activities.    TOTAL hereby grants
to AMYRIS and its Affiliates, as of the Effective Date, a royalty-free worldwide, non-exclusive right and license, without the right to sublicense, to Develop under TOTAL Included IP and TOTAL-Owned Collaboration IP, in each case solely to conduct
R&D Activities in accordance with the Agreement. 
 (b)      JV
Activities.    In the documents establishing the JV Company, TOTAL shall automatically grant to AMYRIS and its Affiliates a royalty-free worldwide, non-exclusive right and license, without the right to sublicense, to Make and
Sell Products under TOTAL 
  

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Included IP, solely to conduct activities on behalf of and in accordance with the documents establishing the JV Company. 

6.5        Licenses to AMYRIS Outside the R&D Collaboration

 (a)      Production Independent of the JV
Company.    If AMYRIS is permitted under the terms of this Agreement to proceed with independent production and commercialization of a JV Company Product, TOTAL automatically grants to AMYRIS and its Affiliates a
royalty-bearing (as provided in Section 5.2) worldwide, non-exclusive right and license, without the right to sublicense except as otherwise provided in the Agreement, under TOTAL Included IP and TOTAL-Owned Collaboration IP, in each case
solely to Make and Sell such Product in accordance with this Agreement outside of the Excluded Markets. For the avoidance of doubt, there will not be double payment of royalties by AMYRIS for the rights granted in this Section 6.5(a). 

(b)      Improvement Scope Activities.    During the term of
the applicable JV Company (meaning that the JV or either or both of the Parties independently is permitted to produce under this Agreement), TOTAL automatically grants to AMYRIS and its Affiliates, as of the date such JV Company is formed because
the Management Committee has decided to use a Commercial Strain and Commercial Compound for the production and commercialization of a Product(s), a royalty-free, worldwide, non-exclusive right and license, without the right to sublicense, to Develop
such Commercial Strain, Commercial Compounds and Product(s) under (i) TOTAL Included IP, and (ii) TOTAL Owned Collaboration IP, in each case solely to conduct research and development activities within the Improvement Scope (subject to the
proper offer of the Improvement Right of First Refusal); provided, however, that such license is subject to the following additional restriction: that AMYRIS automatically grant a royalty-free, worldwide, exclusive right and license (subject to the
reserved rights of the Parties to conduct activities consistent with this Agreement), with the right to sublicense, to use any AMYRIS-Owned Improvement Scope IP to the JV Company for its use for the production and commercialization of the relevant
Product(s) of the JV Company. 
 (c)      Excluded
Markets.    TOTAL automatically grants to AMYRIS and its Affiliates a royalty-bearing (under Section 3.5) worldwide, non-exclusive right and license, under TOTAL Included IP (without the right to sublicense, unless the
Parties otherwise agree in writing after good faith negotiations) and TOTAL-Owned Collaboration IP (with the right to sublicense), in each case to Make and Sell products in the Excluded Markets, and the royalty shall be negotiated in good faith on a
case-by-case basis by the Parties. For the avoidance of doubt, there will not be double payment of royalties by AMYRIS for the rights granted in this Section 6.5(c). 

(d)      License to TOTAL Owned Collaboration IP.    TOTAL
automatically grants to AMYRIS and its Affiliates (i) a royalty-free, worldwide, non-exclusive license, with the right to sublicense subject to compliance with the provisions of Section 2.8(d), for research and development purposes, and
(ii) a worldwide, non-exclusive license, with the right to sublicense subject to compliance with the provisions of Section 2.8(d), for production and commercialization of Products for a royalty equal to [*] of Net Income from AMYRIS’
(or its Affiliates) for the production and commercialization activities with respect to such Product or 
  

* Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

 45 

 
such other royalty as agreed by the Parties, in each case to practice TOTAL Owned Collaboration IP; provided that such licenses will not be used to compete with an ongoing Development Project
within the R&D Collaboration or the activities of a JV Company (or a Party producing independently as permitted in this Agreement) for a particular Product within the Development Project Scope for such Product (unless a different scope is agreed
to by the Parties). 
 (e)      License to AMYRIS to Practice Jointly-Owned
Collaboration IP Outside the R&D Collaboration. TOTAL automatically grants to AMYRIS and its Affiliates (i) a royalty-free worldwide, nonexclusive license, without the right to sublicense, for research and development purposes and a
(ii) royalty-bearing, worldwide, non-exclusive license, without the right to sublicense, for production and commercialization purposes, on terms to be negotiated in good faith on a case-by-case basis, under any TOTAL Controlled intellectual
property solely to the extent necessary to practice any Jointly-Owned Collaboration for production and commercialization purposes so long as the Jointly-Owned Collaboration IP is not used to compete with an ongoing Development Project within the
R&D Collaboration or a JV Company (or a Party producing independently as permitted in this Agreement) for a particular Product within the Development Project Scope for such Product (unless a different scope is agreed to between the Parties).
Nothing in this provision limits the ability of a Party to proceed with production and commercialization of a Product independent of a JV Company as otherwise expressly permitted under this Agreement. 

6.6      Licenses to the JV Company 

(a)      From AMYRIS. Upon the Joint Steering Committee’s determination that
the final milestone under a Development Project Plan has been achieved with respect to a particular Lead Compound, subject to Section 3.2(d), AMYRIS shall automatically grant to the JV Company, an exclusive worldwide, irrevocable (except upon
the unwinding of the JV Company, material breach or as otherwise provided in the Agreement or the definitive documents establishing the JV Company), right and license, with the right to sublicense, to (i) AMYRIS Background IP, (ii) AMYRIS
Included IP, (iii) AMYRIS-Owned Collaboration IP and (iv) AMYRIS’ interest in Jointly-Owned Collaboration IP, in each case solely to Make and Sell such JV Company’s Product(s) consistent with the Agreement and the documents
establishing the JV Company; provided, however, that such licenses will only permit further optimization of the Commercial Strain by means of mutagenesis, and not any strain engineering or method of genetic manipulation. This is in addition to the
license granted in Section 6.5(b). 
 (b)      From TOTAL. Upon the Joint
Steering Committee’s determination that the final milestone under a Development Project Plan has been achieved with respect to a particular Lead Compound, subject to Section 3.2(d), TOTAL shall automatically grant to the JV Company, an
exclusive worldwide, irrevocable (except upon the unwinding of the JV Company, material breach or as otherwise provided in the Agreement or the definitive documents establishing the JV Company), right and license, with the right to sublicense, to
(i) TOTAL Included IP and (ii) TOTAL’s interest in Jointly-Owned IP, in each case solely to Make and Sell such JV Company’s Product(s) consistent with the Agreement and the documents establishing the JV Company; provided,
however, that such licenses will only permit further optimization of 
  

 46 

 
the Commercial Strain by means of mutagenesis, and not any strain engineering or method of genetic manipulation. This is in addition to the license granted in Section 6.3(b). 

6.7      No Implied Rights; Reservation of Rights. For the avoidance of doubt,
(a) TOTAL, its sublicensees and its and their respective Affiliates shall have no right, express or implied, with respect to the AMYRIS Background IP, AMYRIS Included IP, AMYRIS Tools IP, or MEV Pathway IP, except as expressly provided in this
Agreement, and (b) AMYRIS, its sublicensees and its and their respective Affiliates shall have no right, express or implied, with respect to the TOTAL Controlled Intellectual Property except as expressly provided in this Agreement. 

6.8      Maintenance and Prosecution of Patents. 

(a)      Patent Committee. As soon as is practical after beginning the R&D
Activities hereunder, the Parties shall assemble a Patent Committee to oversee the preparation, filing, prosecution, maintenance and defense of patents and patent applications for which licenses are granted pursuant to this Agreement, except to the
extent control over such activities is expressly retained by a Party hereunder. The Patent Committee shall be comprised of no more than 6 and no less than 4 persons with an equal representation by each of AMYRIS and TOTAL. The Patent Committee shall
investigate each Invention made in course of the R&D Activities with respect to which ownership is allocated under this Agreement and the identity of the inventors for each Invention (except where one Party solely controls the prosecution of the
Invention under this Agreement). Patent applications relating to Inventions in MEV Pathway IP and Preapproved AMYRIS Tools IP (but not other AMYRIS Tools IP) may be filed by AMYRIS prior to obtaining such designation from the Patent Committee;
however, AMYRIS’ preliminary designation will have to be reviewed and ratified by the Patent Committee. Any disagreement within the Patent Committee regarding a matter under their discretion shall be resolved under Section 12.1 hereunder.
When investigating Inventions related to the Mevalonate Pathway, the Patent Committee shall identify if there is an aspect of this Invention, independent from the Mevalonate Pathway that could be separately filed as a patent. 

(b)      AMYRIS-Owned Patents. AMYRIS shall, at its sole cost, have the sole right,
but not the obligation, to prepare, file, prosecute and maintain patents on AMYRIS Background IP, AMYRIS Included IP, AMYRIS-Owned Collaboration IP and AMYRIS-Owned Improvement Scope IP, including with respect to any related interference,
re-issuance, re-examination and opposition proceedings; provided, however, that, with respect to the AMYRIS-Owned Collaboration IP and AMYRIS-Owned Improvement Scope IP, AMYRIS shall provide TOTAL copies of all official correspondence with any
patent authority and filed patent applications. TOTAL shall assist AMYRIS at the reasonable request of AMYRIS from time to time in connection with such activities with respect to the Patents on AMYRIS-Owned Collaboration IP and AMYRIS-Owned
Improvement Scope IP. If AMYRIS, in its sole discretion, does not exercise its right to prepare and file a patent application with respect to the AMYRIS-Owned Collaboration IP or AMYRIS-Owned Improvement Scope IP in any country, then, upon any
written request from TOTAL at least 30 days prior to the applicable deadline, AMYRIS shall prepare and file such a patent application in such country in AMYRIS’ name and under AMYRIS’ sole control and TOTAL shall pay all costs incurred by
AMYRIS in connection 
  

 47 

 
with filing, prosecution and maintenance of such a patent application or resulting patent in such country. 

(c)      TOTAL-Owned Patents. Except as provided in Section 6.8(d), TOTAL
shall, at its sole cost, have the sole right, but not the obligation, to prepare, file, prosecute and maintain patents on TOTAL Background IP, TOTAL Included IP, TOTAL-Owned Collaboration IP and TOTAL-Owned Improvement Scope IP, including with
respect to any related interference, re-issuance, re-examination and opposition proceedings; provided, however, that, with respect to the TOTAL-Owned Collaboration IP and TOTAL-Owned Improvement Scope IP, TOTAL shall provide AMYRIS copies of all
official correspondence with any patent authority and filed patent applications. AMYRIS shall assist TOTAL at the reasonable request of TOTAL from time to time in connection with such activities with respect to the Patents on TOTAL-Owned
Collaboration IP and TOTAL-Owned Improvement Scope IP. If TOTAL, in its sole discretion, does not exercise its right to prepare and file a patent application with respect to the TOTAL-Owned Collaboration IP or TOTAL-Owned Improvement Scope IP in any
country, then, upon any written request from AMYRIS at least 30 days prior to the applicable deadline, TOTAL shall prepare and file such a patent application in such country in TOTAL’s name and under TOTAL’s sole control and AMYRIS shall
pay all costs incurred by TOTAL in connection with filing, prosecution and maintenance of any such patent application or resulting patent in such country. 

(d)      Notwithstanding Section 6.8(c), AMYRIS shall, at its sole cost, in
TOTAL’s name and using counsel acceptable to TOTAL, have the first right, but not the obligation, to prepare, file, prosecute and maintain patents on TOTAL-Owned Improvement Scope IP related to the Mevalonate Pathway or the AMYRIS Tools IP
licensed to AMYRIS under Section 6.3(c), including with respect to any related interference, re-issuance, re-examination and opposition proceedings; provided, however, that AMYRIS shall share all correspondence and drafts of patent
applications. If AMYRIS does not exercise its first right to prepare and file a patent and patent application for such TOTAL-Owned Improvement Scope IP related to the Mevalonate Pathway or the AMYRIS Tools IP, then TOTAL shall have the right to
prepare and file such patent and patent application, in TOTAL’s name. In such case, the cost shall be paid by TOTAL. TOTAL shall provide AMYRIS copies of all official correspondence with any patent authority and filed patent applications.

 (e)      MEV Improvement Patents. AMYRIS shall, at its sole cost, in
TOTAL’s name and using counsel acceptable to TOTAL, have the first right, but not the obligation, to prepare, file, prosecute and maintain patents on the MEV Improvements as stipulated in Section 6.2.1.(b)(iii), including with respect to
any related interference, re-issuance, re-examination and opposition proceedings; provided, however, that AMYRIS shall share all correspondence and drafts of patent applications. If AMYRIS does not exercise its first right to prepare and file a
patent and patent application on the MEV Improvements, then TOTAL shall have the right to prepare and file such patent and patent application, in TOTAL’s name. In such case, the cost shall be paid by TOTAL. TOTAL shall provide AMYRIS copies of
all official correspondence with any patent authority and filed patent applications. 

(f)      Jointly-Owned Patents. Once the Patent Committee has determined that an
Invention is Jointly-Owned IP, then the Patent Committee shall inform the Parties of such 
  

 48 

 
decision in writing. TOTAL shall have fourteen (14) days from the receipt of such written notice to determine whether TOTAL is interested in participating in the filing of a patent
application with respect to the Invention. 
 (i)      If TOTAL either declines
or does not affirmatively responds within the fourteen (14) days, then AMYRIS shall have the first right, but not the obligation, to prepare and file patent applications and maintain patents in both Parties’ name using counsel acceptable
to TOTAL; provided that AMYRIS provides TOTAL copies of all correspondence with any patent authority and material correspondence with patent counsel. TOTAL shall assist AMYRIS in connection with the filing of the patent application as reasonably
required. If AMYRIS does not exercise its first right, then TOTAL shall have the right, but not the obligation, to prepare and file such patent application and maintain such patents in both Parties’ name using counsel acceptable to AMYRIS;
provided that TOTAL provide AMYRIS copies of all correspondence with any patent authority and material correspondence with patent counsel. 

(ii)      If TOTAL is interested in participating in the filing of the patent application,
then both AMYRIS and TOTAL in an equal rights basis shall work together through the Patent Committee to determine the strategy for preparing and filing patent applications and maintaining patents in both Parties’ name using counsel acceptable
to both Parties. 
 All costs related to Jointly-Owned Patents shall be shared equally (50%/50%) by both Parties.

 7.        ENFORCEMENT OF PATENTS. 

7.1      Infringement. Each Party shall promptly notify the other Party in writing of
any existing or threatened infringement or misappropriation of AMYRIS Background IP, AMYRIS Included IP, Collaboration IP, Improvement Scope IP, MEV Improvements, TOTAL Background IP or TOTAL Included IP relating to the products competing with the
Products (an “Infringement”) of which it becomes aware, and upon reasonable request shall provide all evidence in such Party’s possession demonstrating such Infringement (other than information that such Party is prevented from
disclosing due to confidentiality or other similar obligations). 

7.2      Right to Pursue Litigation. 

(a)      AMYRIS-Owned IP. AMYRIS shall at its sole cost, have the sole right, but
not the obligation, through counsel of its choosing, to commence or pursue (including settle) against any infringement or misappropriation of AMYRIS-Owned Collaboration IP and AMYRIS-Owned Improvement Scope IP. 

(b)      TOTAL-Owned IP. TOTAL shall at its sole cost, have the sole right, but not
the obligation, through counsel of its choosing, to commence or pursue (including settle) against any infringement or misappropriation of TOTAL-Owned Collaboration IP and TOTAL-Owned Improvement Scope IP that is not related to Mevalonate Pathway.

 (c)      MEV Pathway IP or AMYRIS Tools IP. Notwithstanding clause (b),
no legal action shall be commenced or pursued against any infringement or misappropriation of MEV Pathway IP or AMYRIS Tools IP that is owned solely by TOTAL without the prior written 

 

 49 

 
approval of AMYRIS. If both Parties agree to commence such a legal action, they shall agree with regard to control and cost and recovery sharing at the time of such agreement. 

(d)      Jointly-Owned IP. No legal action shall be commenced or pursued against
any Infringement of Jointly-Owned Collaboration IP or Jointly-Owned Improvement Scope IP, without the prior written approval of both Parties. If both Parties agree to commence such a legal action, they shall agree with regard to control and cost and
recovery sharing at the time of such agreement. 
 (e)      Cooperation of the
Parties. Each Party shall cooperate fully with the other Party in the preparation, filing, prosecution and maintenance of and conducting or defending any interferences or similar proceedings with respect to any Patents generated or licensed
under this Agreement and in obtaining and maintaining any patent extensions, supplementary protection certificates and the like with respect to any Patents included in the Collaboration IP or Improvement Scope IP. 

7.3      Infringement of Third Party Rights. 

(a)      Notification. If a Product, used or sold by TOTAL, AMYRIS, the JV
Company or their Affiliates, or sublicensees hereunder becomes the subject of a Third Party’s claim or assertion of infringement of a Patent granted in any jurisdiction, the Party first learning of such claim or assertion shall promptly notify
the other Party in writing, and shall provide all information relating thereto (other than information that such Party is prevented from disclosing due to confidentiality or other similar obligations). 

(b)      Defense. In the event of a Third Party claim of infringement, any Party
that is the subject of a claim or assertion under subsection (a) above may defend itself in its sole discretion and at its sole expense. 

8.        REPRESENTATIONS, WARRANTIES, AND
COVENANTS 
 8.1      Mutual Representations and
Warranties. 
 (a)      Each Party represents and warrants to the other
that: (i) it is duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation or formation, and has all requisite corporate power and authority to enter into this Agreement and to carry out the
provisions hereof; (ii) it is duly authorized to execute and deliver this Agreement and to perform its obligations hereunder, and the person or persons executing this Agreement on its behalf has been duly authorized to do so by all requisite
corporate or partnership action; and (iii) this Agreement is legally binding upon it, enforceable against it in accordance with its terms, except as enforcement may be limited or affected by applicable bankruptcy, insolvency, moratorium,
reorganization or other laws of general application relating to or affecting creditors’ rights generally in accordance with its terms, and does not conflict with any agreement, instrument or understanding, oral or written, to which it is a
Party or by which it may be bound, nor violate any material law or regulation of any court, governmental body or administrative or other agency having jurisdiction over it. 

 

 50 

 (b)      Each Party represents and
warrants to the other that neither the execution and the delivery of this Agreement by it, nor the consummation by it of the transactions contemplated hereby shall (with or without the giving of notices or the passage of time) (i) violate any
applicable law or other restriction of any government, governmental authority or court to which it is subject or any provision of the charter or bylaws (or other organizational documents) of such Party or (ii) conflict with, result in a breach
of, constitute a default under, result in the acceleration of, create in any Third Party the right to accelerate, terminate, modify or cancel, or require any notice under any agreement, contract, lease, license, instrument or other arrangement to
which it is a party or by which it or any of its assets is bound which (in the case of clause (ii) only) could adversely affect the consummation of the transactions contemplated hereby or result in the imposition of any lien, security interest,
charge, claim, encumbrance, limitation, restriction on use or transfer, conditional sale or other title retention device or arrangement (including a capital lease), transfer for the purpose of subjection to the payment of any indebtedness, or
restriction on the creation of any of the foregoing, upon any of the AMYRIS Technology. AMYRIS is not required by any Legal Requirement to give any notice to, make any filing with or obtain any authorization, consent or approval of, any government
or governmental authority or other third party in order for AMYRIS to consummate the transactions contemplated by this Agreement. 

8.2      AMYRIS Representations, Warranties and Covenants. In addition to the
representations, warranties and covenants made by AMYRIS elsewhere in this Agreement, AMYRIS represents and warrants to TOTAL as of the Effective Date and covenants during the Term of this Agreement, as applicable, as follows (where
“knowledge” is used, it shall refer to knowledge as of the Effective Date): 

(a)      Exhibit B accurately identifies all Patents Controlled by or licensed to
AMYRIS as of the Effective Date that are AMYRIS Background IP. Upon the request of TOTAL not more than once every six months during the Term, AMYRIS shall provide an updated Exhibit B to include any Patents Controlled by or licensed to AMYRIS
that are AMYRIS Technology (other than AMYRIS Non-Collaboration IP, unless it is AMYRIS Included IP). 

(b)      During the Term of this Agreement, AMYRIS shall provide TOTAL reasonable
access during normal working hours to the relevant facilities (including AMYRIS Laboratory Facilities and pilot plants) of AMYRIS and its Affiliates, and all relevant records, files, documentation, correspondence and information in the possession
and Control of AMYRIS or its Affiliates for purposes of TOTAL conducting an intellectual property “freedom to operate” analysis to the extent that it is necessary in connection with the R&D Activities and production and
commercialization as permitted under this Agreement. Any such access shall be subject to any reasonable restrictions imposed by AMYRIS to protect the confidential and proprietary information and materials of AMYRIS or its Affiliates that are
unrelated to the freedom to operate analysis and any Third Parties and to minimize the burden placed upon AMYRIS’ operations. At a minimum, TOTAL shall provide reasonable advance notice of its desired access and AMYRIS shall be under no
obligation to provide access to third party materials or materials that AMYRIS is prohibited by applicable law or contractual obligations from disclosing. In the event that TOTAL identifies any published pending or issued Patent rights of any Third
Party regarding actual or potential infringement in connection with any such analysis, it shall use 
  

 51 

 
reasonable efforts to promptly notify AMYRIS and describe such issue in writing in reasonable detail. 

(c)      To the knowledge of AMYRIS, there are no pending or issued Patent rights
of any Third Party that foreclose practice of any AMYRIS Background IP to make [*] using the [*]. Furthermore, during the Term of this Agreement, AMYRIS shall disclose to TOTAL in writing any known pending or issued Patent rights of any Third Party
of which AMYRIS becomes aware (other than unpublished pending Patents that are confidential) that foreclose practice of any AMYRIS Technology to make [*] using the [*]. 

(d)      Exhibit A-1 contains a complete and accurate list of all material licenses
with Third Parties existing as of the Effective Date under which AMYRIS or its Affiliates receive any AMYRIS Background IP from any Third Party. AMYRIS shall update such Exhibit A-1 approximately every six months during the Term to list any
licenses with Third Parties under which AMYRIS or its Affiliates receive any AMYRIS Included IP. As of the Effective Date, AMYRIS and its Affiliates, as applicable, are not in material breach of any such license agreements. As of the Effective Date,
neither AMYRIS nor its Affiliates have received written notice of its breach of any obligation under any license in Exhibit A-1 and all such licenses are in full force and effect. During the Term of this Agreement, AMYRIS shall inform TOTAL
in writing if any of the agreements listed in Exhibit A-1 either expire or if AMYRIS or its Affiliates receive any written notice that any such agreement may terminate. 

(e)      Exhibit A-2 contains a complete and accurate list of all agreements with
Third Parties existing as of the Effective Date under which AMYRIS or its Affiliates has agreed to produce for or supply to such Third Party any products on an exclusive basis, other than products for the Excluded Markets. Upon the request of TOTAL
not more than once every six months during the Term, AMYRIS shall provide TOTAL updates of such Exhibit A-2 to reflect any changes in such Exhibit A-2. 

(f)      As of the Effective Date, AMYRIS (i) Controls the AMYRIS Background
IP to the extent necessary to grant to TOTAL or any of its Affiliates or the JV Company the licenses set forth herein with respect to the AMYRIS Background IP and that it has the full right and authority to enter into this Agreement and to grant the
rights to TOTAL and its Affiliates as contemplated herein and to carry out the transactions contemplated herein; (ii) there are no known facts as of the Effective Date that to the knowledge of AMYRIS would render any of the AMYRIS Background IP
Patents invalid or unenforceable; (iii) except as otherwise disclosed in Exhibit H attached hereto, to the knowledge of AMYRIS, no Third Party is infringing, misappropriating or otherwise violating AMYRIS Background IP Patents;
(iv) AMYRIS has not received any written notice that the use of the AMYRIS Background IP infringes on the rights of any other person or entity and, to the knowledge of AMYRIS, neither AMYRIS nor its Affiliates is infringing, misappropriating or
otherwise violating the intellectual property rights of any Third Party; (v) AMYRIS and its Affiliates have valid arrangements with all of its consultants and employees that are enforceable in accordance with their terms, except as enforcement
may be limited or affected by applicable bankruptcy, insolvency, moratorium, reorganization or other laws of general application relating to or affecting creditors’ rights generally and are sufficient to assign all of their rights, title and
interest in and to the AMYRIS Background IP to AMYRIS; 
  

* Certain information on this page 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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and (vi) the AMYRIS Background IP Patents that have been granted are in full force and effect in their respective jurisdictions and have been filed, maintained and prosecuted in good faith.

 (g)      During the Term of this Agreement, (i) AMYRIS and its
Affiliates shall have valid arrangements with all of its consultants and employees that are enforceable in accordance with its terms, except as enforcement may be limited or affected by applicable bankruptcy, insolvency, moratorium, reorganization
or other laws of general application relating to or affecting creditors’ rights generally and are with all of their consultants and employees sufficient to assign all of their rights, title and interest in and to all Inventions or other
technology or intellectual property developed or created by them in connection with the R&D Collaboration to AMYRIS or its Affiliates, as applicable; and (ii) neither AMYRIS nor its Affiliates shall enter into any agreement, contract,
lease, license, instrument or other arrangement with a Third Party that results in a breach of or constitutes a default under this Agreement. As of the Effective Date, neither AMYRIS nor its Affiliates are bound by any agreement, contract, lease,
license, instrument or other arrangement with a Third Party that constitutes a breach of or default under this Agreement. 

(h)      Except as otherwise disclosed on Exhibit A-2, AMYRIS has not
granted any outstanding exclusive licenses, either written, oral, or implied, in connection with the AMYRIS Background IP (other than in the Excluded Markets). 

(i)      As of the Effective Date, AMYRIS has all necessary rights in the AMYRIS
Background IP Controlled by all AMYRIS Affiliates that are reasonably necessary for the R&D Activities hereunder to grant to TOTAL and its Affiliates the rights and licenses granted hereunder. At the time of including any AMYRIS Included IP,
AMYRIS shall have all necessary rights (including from AMYRIS Brazil, if necessary) in such AMYRIS Included IP to grant to TOTAL or its Affiliates the rights and licenses granted to such AMYRIS Included IP hereunder. Without limiting the generality
of the foregoing, AMYRIS has all necessary rights in all AMYRIS Background IP Controlled by AMYRIS Brazil in order to grant the rights and licenses granted to TOTAL and its Affiliates hereunder. 

(j)      As of the Effective Date, neither AMYRIS nor its Affiliates is in material
violation of any statute, law, rule or regulation or any judgment, order, writ, injunction or decree of any court or governmental authority to which any AMYRIS Background IP or AMYRIS are subject in a manner that relates to the R&D Collaboration
as anticipated by AMYRIS. AMYRIS and its Affiliates are and shall during the Term of this Agreement continue to be in material compliance with all applicable Legal Requirements to the extent applicable to the R&D Collaboration. AMYRIS holds all
Permits as are necessary to carry on its R&D Activities or shall hold and maintain such Permits prior to and during the performance of the applicable AMYRIS R&D Activities during the Term of the Agreement. Neither AMYRIS nor its Affiliates
is in material violation of any such Permit and has not received any written or oral notice of suspension, revocation or cancellation thereof. 

(k)      As of the Effective Date, for its business as it is now conducted, AMYRIS
and the operations of the AMYRIS Laboratory Facilities are in material compliance with all applicable limitations, restrictions, conditions, standards, prohibitions, requirements and obligations of Environmental Laws and related orders of any court
or other Governmental 
  

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Authority. During the Term of this Agreement, AMYRIS and the operations of the AMYRIS Laboratory Facilities shall be in material compliance with all applicable limitations, restrictions,
conditions, standards, prohibitions, requirements and obligations of Environmental Laws and related orders of any court or other Governmental Authority. 

(l)      All licenses, Permits, consents or other approvals currently required
under the then-current Environmental Law or regulations that are necessary to conduct the current research activities of AMYRIS and its Affiliates relevant to the R&D Collaboration as anticipated by AMYRIS have been obtained and are in full
force and effect or shall be timely obtained and maintained by AMYRIS and its Affiliates prior to performance of its R&D Activities. 

(m)      AMYRIS has as of the Effective Date the sole and exclusive ownership of
the AMYRIS Background IP and agrees that it will have sole and exclusive ownership of the AMYRIS Included IP during the Term of this Agreement or holds valid and effective licenses to use any AMYRIS Background IP not so owned or agrees that it will
hold valid and effective licenses to use any AMYRIS Included IP during the Term of this Agreement. No consent of any Third Party is required for AMYRIS to grant the licenses granted herein for the use of the AMYRIS Background IP. AMYRIS agrees to
obtain any consents from Third Parties required for AMYRIS to grant the licenses granted herein for the use of the AMYRIS Included IP. 

(n)      As of the Effective Date, there is no material suit, action, claim,
investigation, litigation or proceeding pending or, to the knowledge of AMYRIS, currently threatened against AMYRIS or its Affiliates. 

(o)      Neither AMYRIS nor its Affiliates has incurred any obligation or entered
into any agreement for any investment banking, brokerage or finder’s fee or commission in respect of the transactions contemplated by this Agreement for which TOTAL or any of its Affiliates shall incur any liability. 

(p)      Any and all funding of R&D Costs made by TOTAL for the R&D
Activities as stipulated in this Agreement shall be used by AMYRIS or its Affiliates solely in connection with the R&D Activities within the R&D Collaboration as approved by the Management Committee and for no other purpose. 

(q)      Unless otherwise agreed by the Parties, AMYRIS agrees that any Strains
provided by AMYRIS as AMYRIS Included IP will be maintained as proprietary and confidential by AMYRIS. AMYRIS shall not disclose to any Third Party (other than any JV Company) during the Term any and all such Strains except as otherwise permitted
under this Agreement or the agreements relating to the JV Company. AMYRIS shall handle all such Strains in a safe and prudent manner. 

(r)      Neither the execution nor the delivery of this Agreement by AMYRIS, nor
the consummation by AMYRIS of the transactions contemplated hereby shall (with or without the giving of notices or the passage of time) (i) violate any Legal Requirement or other restriction of any Governmental Entity to which AMYRIS is subject
or any provision of the charter or bylaws (or other organizational documents) of AMYRIS or (ii) conflict with, result in 
  

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a breach of, constitute a default under, result in the acceleration of, create in any Third Party the right to accelerate, terminate, modify or cancel, or require any notice under any agreement,
contract, lease, license, instrument or other arrangement to which AMYRIS is a party or by which AMYRIS is bound which (in the case of clause (ii) only) could adversely affect the consummation of the transactions contemplated hereby.

 8.3      TOTAL Warranties.    In addition to the
representations, warranties and covenants made by TOTAL elsewhere in this Agreement, TOTAL represents and warrants to AMYRIS as of the Effective Date and covenants during the Term of this Agreement as follows (where “knowledge” is used, it
shall refer to knowledge as of the Effective Date): 
 (a)      It has the
full right and authority to enter into this Agreement and to grant the rights to AMYRIS as contemplated herein and to carry out the transactions contemplated herein. 

(b)      Neither TOTAL nor its Affiliates has incurred any obligation or entered
into any agreement for any investment banking, brokerage or finder’s fee or commission in respect of the transactions contemplated by this Agreement for which AMYRIS or any of its Affiliates shall incur any liability. 

(c)      Neither the execution nor the delivery of this Agreement by TOTAL, nor the
consummation by TOTAL of the transactions contemplated hereby shall (with or without the giving of notices or the passage of time) (i) violate any Legal Requirement or other restriction of any Governmental Entity to which TOTAL is subject or
any provision of the charter or bylaws (or other organizational documents) of TOTAL or (ii) conflict with, result in a breach of, constitute a default under, result in the acceleration of, create in any Third Party the right to accelerate,
terminate, modify or cancel, or require any notice under any agreement, contract, lease, license, instrument or other arrangement to which TOTAL is a party or by which TOTAL is bound which (in the case of clause (ii) only) could adversely
affect the consummation of the transactions contemplated hereby. 

(d)      Any and all funding of R&D Costs made by AMYRIS to TOTAL for the
R&D Activities as stipulated in this Agreement shall be used by TOTAL solely in connection with the R&D Activities within the R&D Collaboration as approved by the Management Committee and for no other purpose. 

(e)      As of the Effective Date, there is no material suit, action, claim,
investigation, litigation or proceeding pending, or, to the knowledge of TOTAL, currently threatened against TOTAL that would impact the R&D Collaboration. 

(f)      Unless otherwise agreed by the Parties, TOTAL agrees that any Strains
provided by TOTAL as TOTAL Included IP will be maintained as proprietary and confidential by TOTAL. TOTAL shall not disclose to any Third Party (other than any JV Company) during the Term any and all such Strains except as otherwise permitted under
this Agreement or the agreements relating to the JV Company. TOTAL shall handle all such Strains in a safe and prudent manner. 
  

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 (g)      During the Term,
(i) TOTAL and its Affiliates shall have valid arrangements with all of its consultants and employees that are enforceable in accordance with its terms, except as enforcement may be limited or affected by applicable bankruptcy, insolvency,
moratorium, reorganization or other laws of general application relating to or affecting creditors’ rights generally, and are sufficient to assign all of their rights, title and interest in and to all Inventions or other technology or
intellectual property developed or created by them in connection with the R&D Collaboration to TOTAL or its Affiliates, as applicable; and (ii) TOTAL shall not enter into any agreement, contract, lease, license, instrument or other
arrangement with a Third Party that results in a breach of or constitutes a default under this Agreement. 

(h)      Neither TOTAL nor its Affiliates is in material violation of any statute,
law, rule or regulation or any judgment, order, writ, injunction or decree of any court or governmental authority to which TOTAL is subject in a manner that relates to the R&D Collaboration as anticipated by TOTAL. TOTAL and its Affiliates are
and shall during the Term continue to be in material compliance with all applicable Legal Requirements to the extent applicable to the R&D Collaboration. TOTAL holds all Permits as are necessary to carry on its R&D Activities or shall hold
and maintain such Permits prior to and during the performance of the applicable TOTAL R&D Activities during the Term. Neither TOTAL nor its Affiliates is in material violation of any such Permit and has not received any written or oral notice of
suspension, revocation or cancellation thereof. 
 (i)      During the
Term of this Agreement, TOTAL and its Affiliates shall have all necessary rights in the TOTAL Included IP to grant to the JV Company and AMYRIS and its Affiliates the rights and licenses granted hereunder. 

9.        CONFIDENTIALITY 

9.1      Confidential Information.  Except to the extent expressly
authorized by this Agreement or otherwise provided herein or agreed in writing by the Parties, during the Term and for two (2) years thereafter, each Party shall keep confidential and shall not publish or otherwise disclosed and shall not use
for any purpose other than as permitted in this Agreement any Inventions disclosed to it by the other Party or its Affiliates pursuant to this Agreement, (collectively, “Confidential Information” of the disclosing Party). Each Party
shall use at least the same standard of care as it uses to protect proprietary or confidential information of its own, but in no event less than reasonable care, to ensure that its and its Affiliates’ and sublicensees’ employees, previous
employees, agents, consultants and other representatives do not disclose or make any unauthorized use of the Confidential Information of the other Party. Each Party shall promptly notify the other upon discovery of any unauthorized use or disclosure
of the other Party’s Confidential Information. The Parties further acknowledge that each Party has disclosed to the other Party, prior to the Effective Date, certain confidential information pursuant to that certain Confidential Disclosure
Agreement entered into between the Parties as of February 18, 2009, and amended on February 10, 2010 (the “CDA”) that limits the disclosure and use of certain confidential information (as defined in such CDA) by the
receiving Party. Any such confidential information earlier disclosed by one Party to the other under such earlier CDA shall be deemed to be the Confidential Information of the disclosing Party as defined in this Agreement and notwithstanding any
provisions of the CDA shall be subject to all the terms of 
  

 56 

 
this Article 9 and the CDA shall no longer cover such Confidential Information. The CDA is hereby terminated and of no further force or effect. The terms and conditions of this Agreement (but not
the existence hereof) shall be the Confidential Information of both Parties. Any Confidential Information disclosed hereunder shall be the Confidential Information of the disclosing Party. The receiving Party is permitted to use such Confidential
Information only to the extent permitted in this Agreement or the Secondment Agreement. For purposes of this Article 9, an Excluded Affiliate of TOTAL shall not be considered an Affiliate of TOTAL and shall be treated as a Third Party. Any
Inventions solely owned by a Party hereunder shall constitute Confidential Information of such Party and any Inventions jointly owned by a Party hereunder shall constitute Confidential Information of both Parties. 

9.2      Exceptions.    The obligations of non-disclosure and
non-use under Section 9.1 shall not apply to any Confidential Information of a disclosing Party if the receiving Party can prove by contemporaneous written documentation or otherwise reasonably demonstrate that such Confidential
Information: (i) is at the time of receipt, or thereafter becomes, through no breach of this Agreement by the receiving Party, generally known or publicly available; (ii) is known by the receiving Party at the time of
receiving such Confidential Information; (iii) is hereafter furnished to the receiving Party by a Third Party, which is not, to the receiving Party’s reasonable knowledge, in breach of any confidentiality obligation related to such
information; (iv) is independently discovered or developed, outside of the R&D Activities, by the receiving Party without use or reference to the disclosing Party’s Confidential Information (provided that the benefits of this clause
(iv) shall not apply to any discovery or development made by any Seconded Employee during the secondment period (except for when working on projects as permitted under Section 2.6(d)(ii)(3)); (v) is the subject of a written permission
to disclose provided by the disclosing Party; or (vi) is disclosed pursuant to any ruling of a governmental or regulatory authority or court or by mandatory law, provided that written notice of such ruling is given, as soon as reasonably
possible, to the disclosing Party so as to give the disclosing Party an opportunity to intervene and provided further that the receiving Party uses reasonable efforts to obtain assurance that the Confidential Information shall be treated
confidentially. In addition, each Party may disclose Confidential Information of the other Party to the extent such disclosure is reasonably necessary in the following instances: 

(a)    filing or prosecuting Patents as permitted by this Agreement; 

(b)    regulatory filings for products to which such Party has a license or a right to
develop hereunder; 
 (c)    prosecuting or defending litigation as permitted by or
relating to this Agreement; 
 (d)    otherwise required by law or the requirements
of a national securities exchange or other similar regulatory body; provided that the receiving Party shall (i) provide the disclosing Party with reasonable advance notice of, and an opportunity to comment on, any such required disclosure, to
the extent such advance notice is legally permitted, (ii) if requested by the disclosing Party, and at the disclosing Party’s expense, seek confidential treatment with respect to any such disclosure to the extent available, and
(iii) use good faith efforts to incorporate the comments of the disclosing Party in any such disclosure or request for confidential treatment; 
  

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 (e)      complying with applicable
Legal Requirements, court orders or governmental regulations or requests; 

(f)      disclosure to its Affiliates, and its and their respective: sublicensees,
employees, consultants or agents (together “Representatives”), who reasonably need to know such Confidential Information for the purpose of performing the obligations or exercising its license rights as described in this Agreement
and internal reporting to its Affiliates, provided, in each case, each Party shall be responsible for ensuring that all such Representatives to whom the Confidential Information is disclosed under this Agreement shall keep such information
confidential and shall not disclose the same to any unauthorized person; or 

(g)      to underwriters or investors or potential investors or their counsel or
accountants in connection with a Monetization (as defined in Section 13.6) or other investment transaction (and to its and their respective Affiliates, representatives and financing sources); provided, however, that each such Third Party
to whom information is disclosed will (i) be subject to obligations of confidentiality substantially similar hereunder, (ii) be informed of the confidential nature of the Confidential Information so disclosed, and (iii) agree to hold
such Confidential Information subject to the terms thereof; provided, that the disclosure rights shall not apply with respect to the other Party’s intellectual property. 

9.3      Disclosures to TOTAL from Seconded Employees.  For the avoidance
of doubt, subject to the Secondment Agreement, the Seconded Employees (including the TOTAL Coordinator) shall have the right to report to and discuss directly with TOTAL and its Affiliates and to disclose to them any Confidential Information
received by them from AMYRIS, without the prior authorization of AMYRIS; provided, however, that in no event shall any such Confidential Information received by a Seconded Employee from AMYRIS where such Seconded Employee has been informed by AMYRIS
that AMYRIS received such Confidential Information from a Third Party or that such Confidential Information specifically relates to activities of AMYRIS outside of the R&D Collaboration, or where the Seconded Employee is otherwise aware that
such Confidential Information has such a status, shall be so disclosable. 

9.4      Publications.  Each Party to this Agreement recognizes that the
publication of papers regarding results of and other information regarding the R&D Collaboration, including oral presentations and abstracts, may be beneficial to both Parties provided such publications are subject to reasonable controls to
protect Confidential Information. Accordingly, if a Party seeks to publish any Inventions relating to the results of work conducted under this Agreement, which includes Confidential Information of the other Party, such Party shall first provide to
the other Party the material proposed for disclosure or publication, such as by oral presentation, manuscript or abstract, and such other Party shall have the right to review and comment on all such material. Before any such material containing
Confidential Information of the other Party is submitted for publication, the Party proposing publication shall deliver a complete copy to the other Party at least sixty (60) days prior to submitting the material to a publisher or initiating
any other disclosure. Such other Party shall review any such material and give its comments to the Party proposing publication as soon as practicable, but no later than forty-five (45) days of the delivery of such material to such other Party.
The Party proposing to publish such material shall not publish the material absent the other Party’s prior written consent, and in such case shall comply with the other Party’s request to delete references to the other Party’s
Confidential 
  

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Information in any such material and shall delay any submission for publication or other public disclosure for a period of up to an additional ninety (90) days or any other additional delay
in order to allow the other Party to obtain the necessary Patent protection. In no event shall TOTAL have any right to publish any AMYRIS Technology without the prior written consent of AMYRIS in each instance. 

9.5      Publicity and Disclosure of this Agreement.    A Party
that desires to make, or that is required to make pursuant to applicable laws or regulations, any press release or other public disclosure regarding the existence or terms of this Agreement (including the identity of the other Party to this
Agreement) shall first consult with the other Party (to the extent such consultation does not violate applicable laws or regulations) with respect to the text and timing of such press release or other public disclosure and shall obtain the other
Party’s approval over the text and timing of such release and disclosure prior to the issuance or disclosure thereof (to the extent such approval does not violate applicable laws or regulations). Following the initial press release or other
public disclosure announcing the existence or terms of this Agreement (if any), each Party shall be free to disclose, without the other Party’s prior written consent, the existence of this Agreement, the identity of the other Party and those
terms of this Agreement which have already been publicly disclosed in accordance herewith. 

9.6      Residuals.    Nothing in this Agreement shall restrict
any employee or representative of a Party from using general ideas, concepts, practices, learning, or know-how relating to R&D Activities (“General Know-How”) that are retained in the unaided memory of such employee or representative
following performance of the R&D Activities and such employee or representative is not aware at the time of use that such information is Confidential Information of the other Party, provided that the foregoing is not intended to grant, and shall
not be deemed to grant (i) any right to disclose the Confidential Information of the other Party, or (ii) any license under any Patents of the other Party. The General Know-How shall in no event include any financial, business statistical,
or personnel information specific to the other Party. A person’s memory is “unaided” if such person has not intentionally memorized the Confidential Information for the purpose of retaining and subsequently using or disclosing it
otherwise than as authorized pursuant to this Agreement. 
 9.7      Return or
Destruction of Confidential Information.    Within ninety (90) days after the earlier of (a) a written request for the return of such Confidential Information following the expiration or termination of this
Agreement in its entirety, or (b) written request of the disclosing Party, each receiving Party shall at the disclosing Party’s discretion, promptly destroy or return to the disclosing Party (i) all written copies of the disclosing
Party’s Confidential Information that is marked confidential and (ii) all biological materials (including Strains), in each case (i) and (ii) to which the receiving Party does not retain rights hereunder, except that the
receiving Party may retain such Confidential Information or materials, to the extent that the receiving Party requires such Confidential Information or materials for the purpose of performing any obligations under this Agreement that may survive
such expiration or termination, or with respect to Confidential Information only for archival purposes or for information contained in management reports. 
  

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 10.        TERM AND
TERMINATION 
 10.1      Term.    The
term of this Agreement shall be twelve (12) years from the Effective Date, renewable thereafter by mutual written agreement of the Parties for three (3) year periods, unless otherwise terminated in accordance with the terms of this
Agreement or otherwise agreed by the Parties in writing (the “Term”). If this Agreement expires, the Parties understand that TOTAL may want to continue to have access to AMYRIS Laboratory Facilities for TOTAL’s continuation of
certain R&D Activities commenced during the Term. AMYRIS shall provide access to AMYRIS Laboratory Facilities for TOTAL’s continuation of R&D Activities described in an ongoing Screening Plan, Feasibility Plan or Development Project
Plan that was entered into prior to the expiration of the Term; provided that unless AMYRIS otherwise consents (i) such period shall not exceed the period of time contemplated for such R&D Activities in the relevant Plan up to a maximum of
one year after the end of the Term, (ii) the level of AMYRIS Laboratory Facilities shall not exceed that which is contemplated in the relevant Plan, and (iii) the payments due for such access to AMYRIS Laboratory Facilities shall be the
amounts provided in the relevant Plan and in such case the related terms of this Agreement shall survive for such period.  

10.2      Early Termination for Cause.    Either Party may
terminate this Agreement upon ninety (90) days’ prior written notice to the other Party at any time if such other Party materially breaches this Agreement; provided that such notice has given detail of the basis for the breach and
the breaching Party has not cured such breach within the ninety (90) day period following the receipt of such written notice. During the period of any arbitration or judicial proceeding that is invoked to resolve the issue of whether the
allegedly breaching Party has in fact committed a material breach of this Agreement, or whether it has cured such breach, the licenses herein shall continue in full force and effect, subject to the same terms and conditions, as if there had been no
termination but the Parties shall be under no obligation to collaborate. 

10.3      Termination for Bankruptcy.    Notwithstanding any
other provisions of this Agreement, a Party may terminate this Agreement upon giving notice to the other Party, should the other Party declare bankruptcy, be declared bankrupt by a court, or enter into a procedure of winding up or dissolution that
is not dismissed within ninety (90) days, or should a trustee in bankruptcy or receiver or other equivalent entity be appointed for the other Party, or any process or proceeding analogous to any of the foregoing occurs with respect to the other
Party in any jurisdiction. 
 10.4      Patent
Challenge.    If TOTAL or AMYRIS (as the case may be), as licensee under any license of Patents hereunder, acting in its own name or through an agent, applies for a declaration of invalidity (other than applications made as a
defense to a claim of infringement of Patents brought by the licensor of such Patents or its sub-licensees), files oppositions or applications for revocation or re-examination, with respect to such Patents or conducts any measure equivalent to any
of the foregoing actions in the relevant jurisdiction then the other Party may terminate this Agreement upon sixty (60) days prior written notice. 

10.5      Termination for Change of Control.    TOTAL may
terminate this Agreement as provided in Section 13.6. 
  

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 10.6      Effects of Termination

 10.6.1      Licenses to TOTAL:    On
termination of this Agreement by AMYRIS pursuant to Section 10.2 (breach by TOTAL), Section 10.3 (bankruptcy of TOTAL) or Section 10.4 (patent challenge by TOTAL), all licenses to TOTAL shall cease and be of no further effect;
provided, however that all licenses related to Products for which a material investment has been made and/or binding commercial arrangements for Making and Selling activities have been approved in accordance with a Commercialization Plan prior to
the date of such termination shall, to the extent of and with respect to the intellectual property rights existing at such time, survive such termination subject to the payment of the Royalties set forth in the remainder of this Section 10.6.1
with respect to ongoing licenses to Make and Sell Products the same as on expiration of this Agreement. On expiration or termination of this Agreement by TOTAL pursuant to Section 10.2 (breach by AMYRIS) or Section 10.3 (bankruptcy of
AMYRIS) or Section 10.4 (patent challenge by AMYRIS), or termination by TOTAL pursuant to Section 13.6 following a Change of Control of AMYRIS, the licenses granted to TOTAL (if any) pursuant to: 

(a)      Section 6.2(a) (conduct of R&D Activities) shall terminate and
cease to have effect, except: (i) as otherwise provided in Section 10.1 to conduct R&D Activities, which licenses shall continue for the period provided in Section 10.1 (or, in the case of termination other than due to expiration
of the Term, such period plus nine months); and (ii) TOTAL and its Affiliates (other than Excluded Affiliates) shall automatically receive a perpetual, royalty-free license to Make and Sell any products intended for any market other than any
Excluded Market arising from any Candidate Compound for which the POC Criteria have been met in the R&D Collaboration prior to such expiration or termination (to the extent such product was targeted by the relevant Plan for such Candidate
Compound in existence at the end of the Term) but excluding any Products subject to Section 10.6.1(c) or (d). In the event that the license in Section (ii) of this paragraph is triggered by expiration of this Agreement, the royalty
following such expiration shall be [*] of the Net Income deriving from such Making and Selling by TOTAL or its Affiliates of the products subject to such license, calculated in accordance with Exhibit D, paid in accordance with Article 5. In the
event that the license in Section (ii) of this paragraph is triggered for any other reason then the license shall be royalty-free. Section 6.2(b) (Licenses to TOTAL as set forth in the documentation establishing the JV Company, if any)
shall continue as provided for in such documents. 

(b)      Section 6.2(c) (License to Make and Sell Products developed pursuant
to the TOTAL R&D Option) shall (x) survive perpetually with respect to any Product developed prior to such expiration or termination and (y) be extended perpetually to any products arising from any Candidate Compound for which POC
Criteria had been established and subject to a TOTAL R&D Option prior to such expiration or termination which has been Developed by TOTAL under the post-Term license provided in Section 10.6.1(a) intended for any market other than any
Excluded Market , with respect to (i) AMYRIS Background IP, (ii) AMYRIS Included IP and (iii) AMYRIS Owned Collaboration IP, in each case in existence at the date of such expiration or termination. In the event that the licenses in
this paragraph are triggered hereunder, the royalty following such expiration shall be [*] of the Net Income deriving from such Making and Selling by TOTAL or its Affiliates of the products subject to such license, calculated in accordance with
Exhibit D, paid in accordance with Article 5; provided that in the event that the license in this paragraph is triggered other than by expiration of this Agreement and the basis for 

 
 * Certain information on this page 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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such termination causes material commercial damage to the applicable product or its market, the Royalty following such termination shall be [*] of the Net Income deriving from such Making and
Selling by TOTAL or its Affiliates of the Products subject to such license, calculated in accordance with Exhibit D, paid in accordance with Article 5. 

(c)      Section 6.3(a) (Licenses for production independent of the JV) shall
survive on a perpetual basis with respect to any Product developed prior to such expiration or termination with respect to (i) AMYRIS Background IP, (ii) AMYRIS Included IP and (iii) AMYRIS Owned Collaboration IP, in each case, in
existence at the date of such expiration or termination. In the event that the licenses in this paragraph are triggered hereunder, the royalty following such expiration shall be [*] of the Net Income deriving from such Making and Selling by TOTAL or
its Affiliates of the Products subject to such license, calculated in accordance with Exhibit D, paid in accordance with Article 5 provided that in the event that the license in this paragraph is triggered other than by expiration of this Agreement
and the basis for such termination causes material commercial damage to the applicable Product or its market, the royalty following such termination shall be [*] of the Net Income deriving from such Making and Selling by TOTAL or its Affiliates of
the Products subject to such license, calculated in accordance with Exhibit D, paid in accordance with Article 5. 

(d)      Section 6.3(b) (Licenses in connection with Improvement Scope
Activities) shall survive on a perpetual, royalty-free basis solely with respect to (i) AMYRIS Background IP, (ii) AMYRIS Included IP, and (iii) AMYRIS Owned Collaboration IP, in each case in existence as the date of such expiration
or termination. 
 (e)      Section 6.3(c) (TOTAL Internal Research
License on Mevalonate Pathway Strains) shall terminate and cease to have effect. 

(f)      Section 6.3(d) (License for TOTAL to practice TOTAL Owned
Collaboration IP) shall survive perpetually solely with respect to any AMYRIS Background IP, AMYRIS Included IP and AMYRIS Owned Collaboration IP to the extent that any such IP is both (x) in existence at the date of such expiration or
termination and (y) required for TOTAL to practice the TOTAL-owned Collaboration IP. In the event that the license in this paragraph is triggered by expiration of this Agreement, the royalty following such expiration shall be [*] of the Net
Income deriving from such Making and Selling by TOTAL or its Affiliates of all products subject to such license, calculated in accordance with Exhibit D, paid in accordance with Article 5. In the event that the license in this paragraph is triggered
other than by expiration of this Agreement, the royalty following such expiration shall be [*] of the Net Income deriving from such Making and Selling by TOTAL or its Affiliates of all products subject to such license, calculated in accordance with
Exhibit D, paid in accordance with Article 5. For the avoidance of doubt, the license granted pursuant to Section 6.3(d)(i) shall remain in effect perpetually on a royalty-free basis in accordance with the terms thereof. 

(g)      Section 6.3(e) (License to TOTAL to practice Jointly-Owned
Collaboration IP Outside the Collaboration) shall, survive perpetually solely with respect to any AMYRIS-Controlled IP existing at such date of expiration or termination. In the event that the licenses in this paragraph are triggered hereunder, the
royalty following such expiration shall be negotiated in good faith on a case-by-case basis. For the avoidance of doubt, the license granted 

 
 * Certain information on this page has been omitted and filed separately with
the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 62 

 
pursuant to Section 6.3(e)(i) shall remain in effect perpetually on a royalty-free basis in accordance with the terms thereof. 

(h)      Section 6.3(f) (Additional Licenses) to the extent existing as at the
date of such expiration or termination, shall continue for such period as was determined when such license was granted, subject to payment of any agreed royalties. 

10.6.2 Licenses to AMYRIS:    On termination of this Agreement by TOTAL pursuant to
Section 10.2 (breach by AMYRIS), Section 10.3 (bankruptcy of AMYRIS) or Section 10.4 (patent challenge by AMYRIS), all licenses granted to AMYRIS pursuant to this Agreement shall cease and be of no further effect; provided, however
that (i) all licenses related to Products for which a material investment has been made and/or binding commercial arrangements for Making and Selling activities have been approved in accordance with a Commercialization Plan prior to the date of
such termination to the extent, and with respect to, the intellectual property rights existing at such time; and (ii) the license to AMYRIS under MEV Improvements and DXP Improvements existing at the date of such termination pursuant to
Section 6.3(c) (subject to the restrictions set forth in Section 6.3(c)(D)); in each case (i) and (ii) shall each survive on a perpetual royalty free basis, solely subject to the payment of the same Royalties as set forth in the
remainder of this Section 10.6.2 with respect to ongoing licenses to Make and Sell Products on expiration of this Agreement; provided further that the Royalty payable pursuant to this paragraph with respect to the license under MEV Improvements
and DXP Improvements shall be [*] of the Net Income deriving from such Making and Selling by AMYRIS or its Affiliates of all Products subject to such license, calculated in accordance with Exhibit D, paid in accordance with Article 5. On expiration
of this Agreement or termination of this Agreement by AMYRIS pursuant to Section 10.2 (breach by TOTAL) or Section 10.3 (bankruptcy of TOTAL) or termination by TOTAL pursuant to Section 13.6 following a Change of Control of AMYRIS,
the licenses granted to AMYRIS (if any) pursuant to: 

(a)      Section 6.4(a) (Licenses for R&D Activities) shall terminate and
cease to have effect except: (i) to conduct R&D Activities to Develop products arising from any Candidate Compound for which the POC Criteria have been met in the R&D Collaboration prior to such expiration or termination (to the extent
such product was targeted by the relevant Plan for such Candidate Compound in existence at the end of the Term) but excluding any Products subject to Section 10.6.2(c), which licenses shall continue for the period of time contemplated for such
R&D Activities in the relevant Plan up to one year after the end of the Term (or, in the case of termination other than due to expiration of the Term, such period plus nine months); and (ii) AMYRIS and its Affiliates shall automatically
receive a perpetual, royalty-free license to Make and Sell any such products. In the event that the license in Section (ii) of this paragraph is triggered by expiration of this Agreement, the royalty following such expiration shall be [*] of
the Net Income deriving from such Making and Selling by AMYRIS or its Affiliates of all Products subject to such license, calculated in accordance with Exhibit D, paid in accordance with Article 5. In the event that the license in Section
(ii) of this paragraph is triggered for any other reason then the license shall be royalty-free. 

(b)      Section 6.4(b) (Licenses to AMYRIS as set forth in the documentation
establishing JV Company (if any)) shall continue as provided for in such documents; 
  

* Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

 63 

 (c)      Section 6.5(a) (Licenses
for production independent of the JV) shall survive on a perpetual basis with respect to any Product developed prior to such expiration or termination with respect to (i) TOTAL Included IP and (ii) TOTAL Owned Collaboration IP, in each
case, in existence at the date of such expiration or termination. In the event that the licenses in this paragraph are triggered hereunder, the royalty following such expiration shall be [*] of the Net Income deriving from such Making and Selling by
AMYRIS or its Affiliates of Products subject to such license, calculated in accordance with Exhibit D, paid in accordance with Article 5 provided that in the event that the license in this paragraph is triggered other than by expiration of this
Agreement and the basis of such termination causes material commercial damage to the applicable Product or its market, the royalty following such termination shall be [*] of the Net Income deriving from such Making and Selling by AMYRIS or its
Affiliates of Products subject to such license, calculated in accordance with Exhibit D, paid in accordance with Article 5. 

(d)      Section 6.5(b) (Licenses in connection with Improvement Scope
Activities) shall survive on a perpetual, royalty-free basis, solely with respect to (i) TOTAL Included IP and (ii) TOTAL Owned Collaboration IP, in each case in existence as the date of such expiration or termination. 

(e)      Section 6.5(c) (Licenses with respect to Excluded Markets) shall
survive on a perpetual basis with respect to (i) TOTAL Included IP and (ii) TOTAL Owned Collaboration IP, in each case, in existence at the date of such expiration or termination. In the event that the licenses in this paragraph are
triggered hereunder, the royalty following such expiration shall be negotiated in good faith on a case-by-case basis provided that such Royalty shall be reduced to [*] of the original amount in the event that the license in this paragraph is
triggered other than by expiration of this Agreement and the basis of such termination causes material commercial damage to the applicable Product or its market. 

(f)      Section 6.5(d) (Licenses under TOTAL Owned Collaboration IP) shall
survive perpetually solely with respect to any (i) TOTAL Included IP and (ii) TOTAL Owned Collaboration IP, to the extent that any such IP is in existence at the date of such expiration or termination. In the event that the license in this
paragraph is triggered by expiration of this Agreement, the royalty following such expiration shall be [*] of the Net Income deriving from such Making and Selling by AMYRIS or its Affiliates of all products subject to such license, calculated in
accordance with Exhibit D, paid in accordance with Article 5. In the event that the license in this paragraph is triggered other than by expiration of this Agreement, the royalty following such expiration shall be [*] of the Net Income deriving from
such Making and Selling by AMYRIS or its Affiliates of all products subject to such license, calculated in accordance with Exhibit D, paid in accordance with Article 5. For the avoidance of doubt, the license granted pursuant to
Section 6.5(d)(i) shall remain in effect perpetually on a royalty-free basis in accordance with the terms thereof. 

(g)      Section 6.5(e) (License to AMYRIS to practice Jointly-Owned
Collaboration IP outside the R&D Collaboration) shall survive perpetually solely with respect to any TOTAL-Controlled IP existing at such date of expiration or termination. In the event that the licenses in this paragraph are triggered
hereunder, the royalty following such expiration shall be negotiated in good faith on a case-by-case basis. For the avoidance of doubt, the license 

 
 * Certain information on this page 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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granted pursuant to Section 6.5(e)(i) shall remain in effect perpetually on a royalty-free basis in accordance with the terms thereof.; 

(h)      Section 6.3(b)(B) (License to AMYRIS under TOTAL-Owned Improvement
Scope IP) shall survive on a perpetual, royalty-free basis, solely with respect to TOTAL Owned Improvement Scope IP, in each case in existence as the date of such expiration or termination; 

(i)      Section 6.3(c)(B) and (C)(License to AMYRIS under MEV Improvements)
shall survive on a perpetual, royalty-free basis, solely with respect to MEV Improvements and DXP Improvements existing at the date of such expiration or termination (subject to the restrictions set forth in Section 6.3(c)(D)). In addition,
AMYRIS’ rights to prosecute patent applications covering such MEV Improvements and DXP Improvements shall continue in accordance with such section. 

10.6.3 Licenses to the JV Company.    On expiration or termination of this Agreement, the
licenses from the Parties pursuant to: 
 (a)      Section 6.5(a)
(Licenses from AMYRIS to JV Company) shall, solely with respect to (i) AMYRIS Background IP, (ii) AMYRIS Included IP and (iii) AMYRIS Owned Collaboration IP and (vi) AMYRIS’ interest in Jointly-Owned Collaboration IP, in
each case in existence at such date, continue as provided in such section. 

(b)      Section 6.5(b) (Licenses from TOTAL to JV Company), shall, solely
with respect to (i) TOTAL Included IP and (ii) TOTAL’s interest in Jointly-Owned IP, in each case in existence at such date, continue as provided in such section. 

(c)      Section 6.3(b)(A) (License to JV Company under TOTAL-Owned
Improvement Scope IP) shall continue with respect to TOTAL-Owned Improvement Scope IP existing at the date of such expiration or termination as provided in such section. 

(d)      Section 6.5(b) (License to JV Company under AMYRIS-Owned Improvement
Scope IP) shall continue with respect to AMYRIS -Owned Improvement Scope IP existing at the date of such expiration or termination as provided in such section. 

10.7    Survival.    Termination or expiration of this Agreement for any
reason shall not release either Party from any liability or obligation that already has accrued prior to such expiration or termination, nor affect the survival of any provision hereof to the extent it is expressly stated to survive such
termination. Termination or expiration of this Agreement for any reason shall not constitute a waiver or release of, or otherwise be deemed to prejudice or adversely affect, any rights, remedies or claims, whether for damages or otherwise, that a
Party may have hereunder or that may arise out of or in connection with such termination or expiration. Except as set forth below or elsewhere in this Agreement, the obligations and rights of the Parties under the following provisions of this
Agreement shall survive expiration or termination of this Agreement: Article 1, Section 2.8 in the manner specified below, Sections 3.2, 3.3, 3.4 (except in the event AMYRIS terminates pursuant to Section 10.2 (Cause), Section 10.3
(Bankruptcy), or Section 10.4 (Patent Challenge)), Sections 3.5 and 3.6, Articles 4 and 5 if and to the extent applicable to royalties and other payments paid prior to, or payable after, 

 

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expiration or termination, Section 6.1, Sections 6.2 to 6.6 (subject to the provisions of Section 10.6), Section 6.7, Section 6.8, Article 7, Article 9 to 12 and Article 13.
Nothing in this Section 10 shall be read to limit or supersede any licenses or other rights contained in the documentation establishing any particular JV Company. 

If one Party (the “Terminating Party”) terminates this Agreement pursuant to Section 10.2 (Cause), Section 10.3
(Bankruptcy), or Section 10.4 (Patent Challenge), then Sections 2.8(a)-(c) shall continue to apply for the benefit of the Terminating Party if and to the extent applicable, and shall cease to benefit the other Party. Section 2.8(c)
shall survive expiration of this Agreement. 
 10.8    Exercise of Right to
Terminate.    The exercise by either Party of a termination right provided for under this Agreement shall not give rise to the payment of damages or any other form of compensation or relief to the other Party with
respect thereto. 
 10.9    Rights in Bankruptcy.    All rights
and licenses granted under or pursuant to this Agreement by TOTAL or AMYRIS are, and will otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of right to “intellectual property” as defined
under Section 101 of the U.S. Bankruptcy Code. Each of the Parties, as a licensee of such rights under this Agreement, shall retain and may fully exercise all of its respective rights and elections under the U.S. Bankruptcy Code. In the event
of the commencement of a bankruptcy proceeding by or against a Party under the U.S. Bankruptcy Code, then the other Party (which is not a Party to such proceeding) shall be entitled to a complete duplicate of (or complete access to, as appropriate)
any such intellectual property licensed to such other Party under this Agreement and all embodiments of such intellectual property, and same, if not already in such other Party’s possession, shall be promptly delivered by the Party to such
other Party (i) upon any such commencement of a bankruptcy proceeding upon its written request therefor, unless the Party subject to such proceeding elects to continue, and thereafter continues, to perform all of its obligations under this
Agreement, or (ii) if not delivered under (i) above, following the rejection of this Agreement by or on behalf of the Party subject to such proceeding upon written request therefor by the non-subject Party. 

11.        INDEMNIFICATION 

11.1    Indemnification by TOTAL.   TOTAL shall defend, indemnify, and hold AMYRIS
and AMYRIS’ officers, directors, employees, and agents (the “AMYRIS Indemnitees”) harmless from and against any and all damages, liabilities, judgments, recoveries, costs, and expenses (including court costs and reasonable
attorneys’ fees and expenses), resulting from any Third Party claims, suits, actions or proceedings (collectively, “Claims”) to the extent that such Claims arise out of, are based on, or result from (a) the manufacture,
storage, handling, use, promotion, sale, offer for sale, and importation of Products by TOTAL or its Affiliates, permitted sublicensees, (other than by AMYRIS, the JV Company or its or their Affiliates and sublicensees), or distributors or other
practice by TOTAL, its Affiliates, sublicensees or distributors of the licenses granted to TOTAL pursuant to this Agreement; (b) a breach of any of TOTAL’s representations, warranties and obligations under this Agreement; (c) the
willful misconduct or grossly negligent acts of TOTAL or its Affiliates, or the officers, directors, employees (including Seconded Employees), or agents of TOTAL or its Affiliates in connection

  

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with its activities under this Agreement; in each case except to the extent such Claims arise out of, are based on, or result from (x) directions or instructions given by AMYRIS to the
Seconded Employees; (y) a breach by AMYRIS of any of AMYRIS’ representations, warranties and obligations under this Agreement; or (z) the willful misconduct or grossly negligent acts of AMYRIS, its Affiliates, or the officers,
directors, employees, or agents of AMYRIS or its Affiliates (including misappropriation of Third Party intellectual property). (For clarity, the indemnity obligations in this Section 11.1 are subject to any indemnification obligations under any
agreements relating to the JV Company.) 
 11.2    Indemnification by AMYRIS.  
AMYRIS shall defend, indemnify, and hold TOTAL and its Affiliates and each of their officers, directors, employees, and agents (the “TOTAL Indemnitees”) harmless from and against any and all damages, liabilities, judgments,
recoveries, costs, and expenses (including court costs and reasonable attorneys’ fees and expenses), resulting from any Third Party Claims to the extent that such Claims arise out of, are based on, or result from (a) the manufacture,
storage, handling, use, promotion, sale, offer for sale, and importation of Products by AMYRIS or its Affiliates, sublicensees (other than by TOTAL, the JV Company or its or their Affiliates and sublicensees), or distributors or other practice by
AMYRIS, its Affiliates, licensees or distributors of the licenses granted to AMYRIS pursuant to this Agreement; (b) a breach of any of AMYRIS’ representations, warranties and obligations under this Agreement; (c) any damage to
tangible personal property of or injury to or death of the Seconded Employees caused by AMYRIS, its Affiliates, or the officers, directors, employees, or agents of AMYRIS or its Affiliates, in each case during the period of the secondment; or
(d) the willful misconduct or grossly negligent acts of AMYRIS, its Affiliates, or the officers, directors, employees, or agents of AMYRIS or its Affiliates including misappropriation or infringement of Third Party intellectual property in
connection with its activities under this Agreement; in each case except to the extent such Claims arise out of, are based on, or result from (y) a breach by TOTAL of any of TOTAL’s representations, warranties and obligations under this
Agreement; or (z) the willful misconduct or grossly negligent acts of TOTAL and its Affiliates. (For clarity, the indemnity obligations in this Section 11.2 are subject to any indemnification obligations under any agreements relating to
the JV Company.) 
 11.3    Indemnification Procedures.    In the
event that a Party claiming indemnity under this Article 11 (the “Indemnified Party”) becomes aware of any Claim for which it seeks indemnification from the other Party (the “Indemnifying Party”), the Indemnified
Party shall: (i) reasonably promptly notify Indemnifying Party thereof, in no event later than ten (10) business days after the Indemnified Party becomes aware of such Claim (provided that failure to provide such notice will not release
the Indemnifying Party from any of its indemnity obligations hereunder except to the extent that such failure increases the Indemnifying Party’s indemnity obligation); (ii) permit the Indemnifying Party to assume control of the defense or
settlement of the Claim; (iii) at the Indemnifying Party’s expense, provide the Indemnifying Party with reasonable cooperation in the defense or settlement thereof; and (iv) not settle any such claim without the Indemnifying
Party’s written consent, not to be unreasonably withheld. The Indemnified Party may participate in and monitor such defense with counsel of its own choosing at its sole expense. If the Indemnifying Party does not assume and conduct the defense
of the claim as provided above, (a) the Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to the claim in any manner the Indemnified Party may deem reasonably appropriate
(and the Indemnified Party need not consult 
  

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with, or obtain any consent from, the Indemnifying Party in connection therewith), and (b) the Indemnifying Party shall remain responsible to indemnify the Indemnified Party as provided in
this Article 11. 
 11.4    Insurance.   Each Party, at its own expense,
shall maintain product liability insurance and general commercial liability insurance, in each case to the extent and in an amount consistent with industry standards for a company similarly situated, during the Term of this Agreement and thereafter
for so long as such Party is exercising its license rights granted hereunder, including for the performance of the R&D Activities and such Party’s development, production and commercialization activities hereunder, including pursuant to the
licenses granted in this Agreement, and include with respect to each Party’s respective facilities used in conducting such activities. Each Party shall provide to the other Party a certificate of insurance evidencing such coverage upon request.
Self-insurance shall be permitted to the extent and in an amount consistent with such industry standards. 

11.5    Limitation of Liability.   EXCEPT IN CIRCUMSTANCES OF GROSS NEGLIGENCE OR
INTENTIONAL MISCONDUCT BY A PARTY OR ITS AFFILIATES OR WITH RESPECT TO A BREACH OF ARTICLE 9, NEITHER PARTY, NOR ANY OF ITS AFFILIATES, SHALL BE ENTITLED TO RECOVER FROM THE OTHER PARTY ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES IN CONNECTION
WITH THIS AGREEMENT OR ANY LICENSE GRANTED HEREUNDER. FOR CLARITY, ANY DAMAGES FINALLY AND ACTUALLY SUFFERED BY AN INDEMNIFIED PARTY (WHETHER BY A FINAL JUDGMENT OF A COURT OF LAW OR THROUGH A SETTLEMENT) ARISING OUT OF A CLAIM FOR WHICH THE
INDEMNIFIED PARTY IS INDEMNIFIABLE UNDER THIS ARTICLE 11 SHALL BE DEEMED DIRECT DAMAGES FOR PURPOSE OF THIS SECTION 11.5. NEITHER PARTY NOR ANY OF ITS AFFILIATES SHALL BE ENTITLED TO RECOVER FROM THE OTHER PARTY ANY PUNITIVE DAMAGES HEREUNDER.

 12.        DISPUTE RESOLUTION 

12.1    Escalation. 

(a)      If there is a matter for which the JSC is or the Parties are unable to
reach a decision with regard to a matter arising under this Agreement (except for those matters for which this Agreement provides that TOTAL or AMYRIS, as applicable, shall have the final decision authority), or if any Dispute that arises between
the Parties under this Agreement, such Dispute shall be referred to the Management Committee for further discussion and resolution. The Management Committee shall as soon as practicable meet and attempt in good faith to resolve the Dispute and reach
agreement. The Management Committee may obtain the advice of other employees or consultants, including patent specialists, as they deem necessary or advisable in order to make the decision. If the Management Committee cannot reach agreement as to
any matter referred to it pursuant to this Section 12.1 or with regard to any matter otherwise in the jurisdiction of the Management Committee within thirty (30) days, the Dispute shall be referred to the Executive Officers pursuant to
clause (b). 
  

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 (b)      Except as provided in
Section 12.5, the Executive Officers shall attempt in good faith to resolve any Dispute referred to it pursuant to Section 12.1(a) within ten (10) days after such referral by meeting (either in person or by video teleconference,
unless otherwise mutually agreed) at a mutually acceptable time, and thereafter as often as they reasonably deem necessary, to exchange relevant information and to attempt to resolve the Dispute. If the Dispute has not been resolved within twenty
(20) days thereafter and the Dispute does not consist of a failure by the Parties to reach agreement where one or both Parties have discretion whether to agree, either Party may, by written notice to the other Party, elect to initiate
arbitration pursuant to Section 12.2 for purposes of having the Dispute and any related Disputes resolved. If an Executive Officer intends to be accompanied at a meeting by an attorney, the other Executive Officer shall be given at least
forty-eight (48) hours’ notice of such intention and may also be accompanied by an attorney. All negotiations conducted pursuant to this Section 12.1(b), and all documents and information exchanged by the Parties in furtherance of
such negotiations, (i) are the Confidential Information of the Parties, (ii) shall be treated as evidence of compromise and settlement for purposes of the United States Federal Rules of Evidence and any other applicable state or national
rules of evidence or procedure, and (iii) shall be inadmissible in any arbitration conducted pursuant to this Section 12 or other proceeding with respect to a Dispute. 

12.2    Arbitration. 

(a)      Except for Disputes that are subject to Section 12.3 or
Section 12.5, all Disputes arising out of or in connection with this Agreement that cannot be resolved by the Executive Officers pursuant to Section 12.1(b), shall be finally settled under the Rules of Arbitration of the International
Chamber of Commerce (the “ICC Rules”) by an arbitration tribunal appointed in accordance with the said ICC Rules as modified hereby. 

(b)      There shall be three (3) arbitrators, one selected by the initiating
Party in the request for arbitration, the second selected by the other Party within twenty (20) days of receipt of the request for arbitration, and the third (who shall act as chairperson of the arbitration tribunal) selected by the two
(2) Party-appointed arbitrators within twenty (20) days of the selection of the second arbitrator. In the event that the respondent fails to select an arbitrator, or if the two Party-appointed arbitrators are unable or fail to agree upon
the third arbitrator, the International Court of Arbitration of the International Chamber of Commerce shall designate the remaining arbitrator(s) required to comprise the tribunal. The claimant in the arbitration shall provide a copy of the request
for arbitration to the respondent at the time such request is submitted to the Secretariat of the International Chamber of Commerce. 

(c)      Each arbitrator chosen under this Section shall speak, read, and write
English fluently and shall be either (i) a practicing lawyer who has specialized in business litigation with at least ten (10) years of experience in a law firm of over fifty (50) lawyers, or (ii) a retired judge of a court of
general jurisdiction. 
 (d)      The place of arbitration shall be New
York, New York. The language of the arbitral proceedings and of all submissions and written evidence shall be English; provided, however, that a Party, at its expense, may provide for translation or simultaneous interpretation into a language other
than English. 
  

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 (e)      The arbitrators shall issue
an award within nine (9) months of the submission of the request for arbitration. This time limit may be extended by agreement of the Parties or by the tribunal if necessary. 

(f)      It is expressly understood and agreed by the Parties that the rulings and
award of the tribunal shall be conclusive on the Parties, their successors and permitted assigns. Judgment on the award rendered by the tribunal may be entered in any court having jurisdiction thereof. 

(g)      Each Party shall bear its own costs and expenses and attorneys’ fees,
and the Party that does not prevail in the arbitration proceeding shall pay the arbitrator’s fees and any administrative fees of arbitration. All proceedings and decisions of the tribunal shall be deemed Confidential Information of each of the
Parties, and shall be subject to Article 9. 
 12.3    Patent Validity and Infringement
Disputes.    In the event that a Dispute arises with respect to the inventorship, scope, ownership, validity, enforceability, revocation or infringement of a Patent, and such Dispute cannot be resolved by the Executive
Officers in accordance with Section 12.1(a), unless otherwise agreed by the Parties in writing, such Dispute shall not be submitted to arbitration in accordance with Section 12.2, and notwithstanding anything in this Agreement to the
contrary, the sole forum to resolve such Dispute shall be to initiate litigation in a court of competent jurisdiction in the country of issuance of the Patent that is the subject of the Dispute. 

12.4    Consent to Jurisdiction. 

(a)      Except as otherwise specifically limited in this Agreement, the arbitral
tribunal shall have the power to grant any remedy or relief that it deems appropriate, whether provisional or final, including conservatory relief and injunctive relief, and any such measures ordered by the arbitral tribunal may, to the extent
permitted by applicable law, be deemed to be a final award on the subject matter of the measures and shall be enforceable as such. 

(b)      In addition to the remedies and relief available under ICC Rules, each
Party expressly retains the right at any time to apply to any court of competent jurisdiction for interim, provisional or conservatory relief, including pre-arbitral attachments or injunctions, and any such request shall not be deemed incompatible
with the agreement to arbitrate or a waiver of the right to arbitrate. 

(c)      For purposes of Section 12.4(b), each Party hereby irrevocably and
unconditionally consents and agrees that any action for interim, provisional and/or conservatory relief brought against it with respect to its obligations or liabilities under or arising out of or in connection with this Agreement may be brought in
the United States District Court for the Southern District of New York, unless no federal subject matter jurisdiction exists, in which case the action may be brought in the courts of the State of New York located in the Borough of Manhattan, and
each Party hereby irrevocably accepts and unconditionally submits to the non-exclusive jurisdiction of the aforesaid courts in personam, with respect to any such action for interim, provisional or conservatory relief. 

 

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 (d)      Each Party hereby irrevocably
consents and agrees that the service of any and all legal process, summons, notices and documents which may be served in any action arising under this Agreement may be made by sending a copy thereof by express courier to the Party to be served at
the address set forth in the notice provision of this Agreement, with such service to be effective upon receipt. Nothing in this Agreement will affect the right of any Party to this Agreement to serve process in any other manner permitted by law.

 12.5    Injunctive Relief.    Notwithstanding anything to the
contrary, either Party may at any time seek to obtain injunctive relief from a court of competent jurisdiction with respect to an issue arising under this Agreement if the rights of such Party would be prejudiced absent such relief. 

13.        GENERAL PROVISIONS 

13.1    Governing Law.   This Agreement and any arbitration hereunder shall be
governed by, interpreted and construed and enforced in accordance with, the laws of the State of New York, without giving effect to any conflicts of laws principles thereof. 

13.2    Entire Agreement; Modification.   This Agreement is both a final expression
of the Parties’ agreement and a complete and exclusive statement with respect to the subject matter hereof except as expressly set forth herein. This Agreement supersedes all prior and contemporaneous agreements and communications (including
the CDA as defined in Section 9.1), whether oral, written or otherwise, concerning any and all matters contained herein. No rights or licenses with respect to any intellectual property right of either Party are granted or deemed granted
hereunder or in connection herewith, other than those rights expressly granted in this Agreement. This Agreement may only be modified or supplemented in a writing expressly stated for such purpose and signed by the Parties to this Agreement.

 13.3    Relationship of the Parties.   The Parties’ relationship,
as established by this Agreement, is solely that of independent contractors. This Agreement does not create any partnership, joint venture or similar business relationship between the Parties. Except as expressly set forth herein, neither Party is a
legal representative of the other Party, and neither Party can assume or create any obligation, representation, warranty or guarantee, express or implied, on behalf of the other Party for any purpose whatsoever. The Parties do not intend this
Agreement to create a partnership for United States income tax purposes, and agree not to treat the Agreement as a partnership absent a contrary determination by the United States Internal Revenue Service or other governmental authority. 

13.4    Non-Solicitation.    From the Effective Date until the second
(2nd) anniversary of the expiration or termination of this Agreement, each Party shall not (a) solicit, directly or indirectly, any employee of the other Party or of any of its respective Affiliates or (b) induce or attempt to induce,
directly or indirectly, any such employee to leave the employ of the other Party or of any of its respective Affiliates, provided, however, that a Party shall not be precluded from hiring any such employee of the other Party or its Affiliates
(i) if such employee contacts them and/or any of its Affiliates on his/her own initiative (including if such employee sends an unsolicited job application to a Party or any of its Affiliates) or (ii) if such employee responds to a general
solicitation of employment placed by such employee and/or any of its Affiliates, or 
  

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their respective recruiters and other agents, by way of general public announcements (including in newspapers, trade journals, the internet or any similar media) which are not specifically
directed at any employee covered by this Section 13.4 and provided further that no such event described in clause (i) or (ii) shall be considered as a breach of this Section 13.4. 

13.5      Non-Waiver.    The failure of a Party to insist upon
strict performance of any provision of this Agreement or to exercise any right arising out of this Agreement shall neither impair that provision or right nor constitute a waiver of that provision or right, in whole or in part, in that instance or in
any other instance. Any waiver by a Party of a particular provision or right shall be in writing, shall be as to a particular matter and, if applicable, for a particular period of time and shall be signed by such Party. 

13.6      Assignment and Change of Control.    Any assignment of
this Agreement not in accordance with this Section 13.6 shall be null and void. 

(a)      Without the prior written consent of the other Party, neither Party shall
sell, transfer, assign, delegate, pledge or otherwise dispose of, whether voluntarily, involuntarily, by operation of law or otherwise, this Agreement or any of its rights or duties hereunder except as otherwise provided in this Section 13.6.
Any attempted assignment or delegation in violation of the preceding sentence shall be void and of no effect. All validly assigned and delegated rights and obligations of the Parties hereunder shall be binding upon and inure to the benefit of and be
enforceable by and against the successors and permitted assigns of the applicable Party. Either Party may, in its sole discretion, assign this Agreement and its rights and obligations hereunder, in whole or in part, to any of its Affiliates, other
than, in the case of TOTAL, an Excluded Affiliate. In the case of an assignment to an Affiliate, the assigning Party shall remain responsible for the performance by such Affiliate of the rights and obligations hereunder. Notwithstanding anything to
the contrary in this Section 13.6, the Parties agree that any Monetization by a Party (and any agreements entered into by such Party in connection therewith) shall not require the consent of the other Party pursuant to this Section 13.6.
“Monetization” mean the monetization of all or a portion of a Party’s rights to receive royalties under this Agreement, including by means of a direct sale (through an auction process or otherwise) or a financing (through a
borrowing of loans, an offering of securities or otherwise). 

(b)      Either Party may assign this Agreement and its rights and obligations
hereunder by way of merger, consolidation or other business reorganization or the sale of all or substantially all of its assets to any successor in interest (or acquirer of such assets), other than to an Excluded Affiliate (or a Person who would be
an Excluded Affiliate if the transaction were to be consummated) (such a transaction, a “Sale”), without the consent of the other Party. In the event that AMYRIS undergoes a Sale, an F-1 Change of Control or F-2 Change of
Control, AMYRIS shall deliver to TOTAL written notice of such Sale, F-1 Change of Control or F-2 Change of Control, as the case may be (which shall include the name of the acquiring entity) (the “Notice”), within thirty
(30) days following the occurrence thereof (or earlier if desired by AMYRIS). In the case of an F-1 Change of Control or an F-2 Change of Control, TOTAL shall have the right but not the obligation to terminate this Agreement, without any
liability (other than accrued liabilities or any liabilities with respect to obligations surviving termination of this Agreement), by providing written notice of termination to AMYRIS within forty-five (45) days of receipt of the Notice with
respect to the F-1 Change of Control or F-2 Change of Control, as 
  

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the case may be. Notwithstanding the foregoing, if the F-1 Change of Control transaction involves a strategic partnership between AMYRIS and an F-1 TOTAL Competitor for access to feedstock
in Brazil, then TOTAL shall have no right to terminate this Agreement under this Section 13.6(b) if AMYRIS can demonstrate to TOTAL’s reasonable satisfaction that either the consequences of such transaction are mutually beneficial to the
Parties or beneficial to TOTAL. 
 (c)      As used herein, an
“F-1 Change of Control” shall be deemed to occur when an F-1 TOTAL Competitor through a transaction or series of related transactions acquires (i) an exclusive license to all or substantially all of the intellectual property of
AMYRIS, (ii) directly or indirectly, ownership (beneficial or otherwise) of more than 7,101,548 shares of AMYRIS common stock (on an as-converted basis and as adjusted for stock splits, combinations and the like), (iii) directly or
indirectly, securities of AMYRIS holding the right to a number of votes greater than the votes represented by 7,101,548 shares of AMYRIS common stock (on an as-converted basis and as adjusted for stock splits, combinations and the like) at meetings
of the stockholders (and written actions in lieu of meetings), or (v) an ownership interest of 20% or more of AMYRIS’ then-outstanding capital stock (assuming conversion of all outstanding shares of the preferred stock into common stock),
and either (A) governance rights in AMYRIS in addition to those ordinarily afforded to a common stock holder, or (B) involvement in the operations, including research and development or production, of AMYRIS. 

(d)      As used herein, a “F-2 Change of Control” of AMYRIS shall
be deemed to occur when an F-2 TOTAL Competitor through a transaction or series of related transactions acquires (or agrees with AMYRIS to acquire) (i) an exclusive license to all or substantially all of the intellectual property of AMYRIS,
(ii) directly or indirectly, ownership (beneficial or otherwise) of more than 7,101,548 shares of AMYRIS common stock (on an as-converted basis and as adjusted for stock splits, combinations and the like), (iii) directly or indirectly,
securities of AMYRIS holding the right to a number of votes greater than the votes represented by 7,101,548 shares of AMYRIS common stock (on an as-converted basis and as adjusted for stock splits, combinations and the like) at meetings of the
stockholders (and written actions in lieu of meetings), or (iv) an ownership interest of 50% or more of AMYRIS’ then-outstanding capital stock (assuming conversion of all outstanding shares of preferred stock common stock). 

13.7      Severability.    If, for any reason, any part of this
Agreement is adjudicated invalid, unenforceable or illegal by a court of competent jurisdiction, all other portions of this Agreement shall remain in full force and effect, and the Parties shall use their best efforts to substitute for the invalid,
unenforceable or illegal provision a valid, enforceable and legal provision which conforms as nearly as possible with the original intent of the Parties. 

13.8      Subcontracts.    Any external services required by
either Party to conduct the R&D Collaboration shall be at AMYRIS’ sole expense unless included in R&D Costs, in which case it shall be shared by the Parties as provided herein. Neither Party shall subcontract or use external services of
a Third Party for any aspect of the R&D Collaboration without the prior written approval of Management Committee. Notwithstanding the foregoing, each Party may subcontract to its Affiliates. Notwithstanding anything else in this Agreement to the
contrary, for purposes of this Section 13.8, all Excluded Affiliates shall be treated as Third Parties and not Affiliates of TOTAL. 
  

 73 

13.9      Notices.    Any notice to be given under this Agreement
must be in writing and delivered either in person, by registered or certified mail (postage prepaid) requiring return receipt, or by overnight courier or facsimile confirmed thereafter by any of the foregoing, to the Party to be notified at its
address(es) given below, or at any address such Party has previously designated by prior written notice to the other. Notice shall be deemed sufficiently given for all purposes upon the earliest of: (a) the date of actual receipt; (b) if
mailed, three (3) days after the date of postmark; or (c) if delivered by overnight courier, the next business day the overnight courier regularly makes deliveries. 

If to TOTAL, notices must be addressed to: 

TOTAL Gas & Power USA Biotech, Inc. 

1201 Louisiana, Suite 1600 

Houston, TX 77002 

Attention: General Manager 

With a required copy to (which shall not constitute Notice): 

TOTAL Gas & Power USA Biotech, Inc. 

1201 Louisiana, Suite 1600 

Houston, TX 77002 

Attention: Legal Department 

If to AMYRIS, notices must be addressed to: 

Amyris, Inc. 

5885 Hollis Street, Suite 100 

Emeryville, CA 94608 

Attention: Tamara L. Tompkins, General Counsel 

Facsimile: (510) 842-1460 

13.10      Force Majeure.    Each Party shall be excused from
liability for the failure or delay in performance of any obligation under this Agreement by reason of any event beyond such Party’s reasonable control including but not limited to Acts of God, fire, flood, explosion, earthquake, or other
natural forces, war, civil unrest, accident, any strike or labor disturbance, or any other event similar to those enumerated above. Such excuse from liability shall be effective only to the extent and duration of the event(s) causing the failure or
delay in performance and provided that the Party has not caused such event(s) to occur and continues to use diligent, good faith efforts to avoid the effects of such event and to perform the obligation. Notice of a Party’s failure or delay in
performance due to force majeure must be given to the unaffected Party promptly thereafter but no later than five (5) days after its occurrence which notice shall describe the force majeure event and the actions taken to minimize the impact
thereof. All delivery dates under this Agreement that have been affected by force majeure shall be tolled for the duration of such force majeure. In no event shall any Party be required to prevent or settle any labor disturbance or dispute.
Notwithstanding the foregoing, should the event(s) of force majeure suffered by a Party extend beyond a four-month period, the other Party may then terminate this 

 

 74 

 
Agreement by written notice to the non-performing Party, with the consequences of such termination as if this Agreement had expired (and was not terminated) in accordance with
Section 10.6.  
 13.11      Trademarks and
Logos.    Neither Party shall use, in advertising or otherwise, the other Party’s or its Affiliates’ names, trade names, trademarks, service marks, logos or other indicia of origin or refer to the other Party or its
Affiliates, directly or indirectly, in any media release, public announcement or public disclosure relating to this Agreement or its subject matter, including in any promotional or marketing materials, lists, referral lists, or business
presentations, without prior written consent from the other Party for each such use or release. The restrictions imposed by this Section 13.11 shall not prohibit either Party from making any disclosure (a) identifying the other Party as a
counterparty to this Agreement to its or its Affiliates’ actual or prospective acquirers, merger candidates, underwriters, or investors (and their attorneys and accountants), (b) that is required by Applicable Law or the requirements of a
national securities exchange or another similar regulatory body (provided that any such disclosure shall be governed by Article 9) or (c) with respect to which written consent of the other Party has previously been obtained. 

13.12      Interpretation. 

(a)      Captions & Headings. The captions and headings of clauses
contained in this Agreement preceding the text of the articles, sections, subsections and paragraphs hereof are inserted solely for convenience and ease of reference only and shall not constitute any part of this Agreement, or have any effect on its
interpretation or construction. 
 (b)      Singular & Plural.
All references in this Agreement to the singular shall include the plural where applicable, and all references to gender shall include both genders and the neuter. 

(c)      Including as Example. Use of the term “including” or
“include” in this Agreement shall be interpreted to mean “including, without limitation,” or “include, but not limited to,” and shall be exemplary rather than restrictive. 

(d)      Articles, Sections & Subsections. Unless otherwise specified,
references in this Agreement to any article shall include all sections, subsections, and paragraphs in such article; references in this Agreement to any section shall include all subsections and paragraphs in such sections; and references in this
Agreement to any subsection shall include all paragraphs in such subsection. 

(e)      Days. All references to days in this Agreement mean calendar days, unless
otherwise specified. 
 (f)      Ambiguities. Ambiguities and
uncertainties in this Agreement, if any, shall not be interpreted against either Party, irrespective of which Party may be deemed to have caused the ambiguity or uncertainty to exist. 

 

 75 

 (g)      English
Language.    All notices required or permitted to be given hereunder, and all written, electronic, oral or other communications between the Parties regarding this Agreement shall be in the English language. 

(h)      Counterparts.    This Agreement may be executed in two
or more counterparts, including by facsimile or electronic exchange of signed copies in PDF format, each of which shall be deemed an original document, and all of which, together with this writing, shall be deemed one instrument. 

[Signature Page Follows] 
  

 76 

 Execution Copy 

IN WITNESS WHEREOF, the Parties have duly executed this Agreement as
of the Effective Date. 
  

					
	 AMYRIS, INC.
	 		 	 TOTAL GAS & POWER USA BIOTECH, INC.

			
	 By:      /s/ John G.
Melo                                         
   
	 		 	 By:      /s/ Arnaud
Chaperon                          

			
	 Name: John G.
Melo                                         
       
	 		 	 Name: Arnaud
Chaperon                              

			
	 Title:
  CEO                                       
                       
	 		 	 Title:   Senior Vice President of Electricity  

 

            and New Energies

Signature Page to Technology License, Development, Research and 

Collaboration Agreement 

 Execution Copy 

EXHIBIT A-1 

AMYRIS is a party to the following agreements with the Regents of the University of California: 

Amended and Restated License Agreement effective January 11, 2008. 

Amended and Restated Exclusive Patent and Non-Exclusive Know-how License for Regents’ Project Patents Arising under
Regents’ Research Agreement Number 018896 dated January 11, 2008, as originally amended by Amendment #1 dated June 25, 2005; Amendment #2 dated Sept 1, 2005; Amendment #3 dated June 1, 2006; Amendment #4 dated Oct 1, 2006;
Amendment #5 dated Aug 1, 2006; Amendment #6 dated Jan 1, 2007; Amendment #7 dated Feb 1, 2007; Amendment No. 8 dated August 3, 2007; and Amendment No. 9 dated August 26, 2007. 

[*] 
 [*] 

 
 * Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 1 

 EXHIBIT A-2 

Collaboration Agreement dated June 16, 2010 between AMYRIS and M&G Finanziaria S.R.L. 

 

 A-2 

 Execution Copy 

EXHIBIT B 

AMYRIS Patents 

I. AMYRIS Owned Patents and Patent Applications 
  

							
	Amyris Ref.
No.	  	 Serial No &
Filing
 Date
	  	Title	  	Status
	
[*]
	  	 US 11/753,586

Filed: 05/25/07
	  	Fuel Components, Fuel Compositions and Methods of Making and Using the Same	  	Published as US 2008/0092829 on 04/24/2008
	 [*]
	  	 PCT/US2007/012468

Filed: 05/25/07
	  	Fuel Components, Fuel Compositions and Methods of Making and Using the Same	  	 Published as WO 2007/139925 on 12/06/2007

 
 Entered National Phase in Australia, Canada, Europe, Japan, & South
Africa

	
[*]
	  	 US 11/754,235

Filed 05/25/2007
	  	Production of Isoprenoids	  	 Issued as US
7,659,097 on 02/09/2010
  
 Published as US 20080274523 on
11/06/2008

	 [*]

 
	  	 [*]
  
	  	 [*]
  
	  	 
	
[*]
	  	 PCT/US2007/069807

Filed 05/25/2007
	  	Production of Isoprenoids	  	 Published as WO
2007/140339 on 12/06/2007
  
 Entered National Phase in Australia, Brazil,
Canada, China, Columbia, El Salvador, Europe, Guatemala, Honduras, India, Indonesia, Japan, South Korea, Malaysia, Mexico, Mozambique, Nigeria, Singapore, South Africa, Trinidad & Tobago, Vietnam

	 [*]
	  	[*]	  	[*]	  	 

  

* Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

 1 

							
	Amyris Ref.
No.	  	 Serial No &
Filing
 Date
	  	Title	  	Status
	
[*]
	  	 PCT/US2007/012467

Filed:05/25/2007
	  	Apparatus for Making a Bio-Organic Compound	  	 Published as WO
2007/139924 on 12/06/2007
  
 Entered National Phase in Australia, Brazil,
Canada, China, Columbia, El Salvador, Europe, Guatemala, Honduras, India, Indonesia, Japan, South Korea, Malaysia, Mexico, Mozambique, Nigeria, Singapore, South Africa, Trinidad & Tobago, Vietnam

	 [*]
	  	 US 11/869,673

Filed 10/09/2007
	  	Fuel Compositions Comprising Farnesane and Farnesane Derivatives and Method of Making and Using the Same	  	 Issued as U.S. Patent No. 7,399,323 on 07/15/2008

 
 Published as US 20080098645 on 05/01/2008

	
[*]
	  	 US 11/973,901

Filed 10/09/2007
	  	Fuel Compositions Comprising Farnesane and Farnesane Derivatives and Method of Making and Using the
Same	  	Published as US 20080083158 on 04/10/2008
	 [*]
	  	 PCT/US2007/021890

Filed 10/10/2007
	  	Fuel Compositions Comprising Farnesane and Farnesane Derivatives and Method of Making and Using the Same	  	 Published as WO 2008/045555 on 04/17/2008

 
 Entered National Phase in Australia, Brazil, Canada, China, Columbia, El Salvador,
Europe, Guatemala, Honduras, India, Indonesia, Japan, South Korea, Malaysia, Mexico, Mozambique, Nigeria, Singapore, South Africa, Trinidad & Tobago, Vietnam

	
[*]
	  	[*]	  	[*]	  	 

 
 * Certain information on this page has been omitted and filed separately with
the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 B-2 

							
	Amyris Ref.
No.	  	 Serial No &
Filing
 Date
	  	Title	  	Status
	 [*]
	  	 PCT/US2007/024266

Filed 11/20/2007
	  	Jet Fuel Compositions and Methods of Making and Using the Same	  	 Published as WO
2008/140492 on 11/20/2008
  
 Entered National Phase in Australia, Brazil,
Canada, China, Europe, India, and South Africa

	
[*]
	  	 US 12/175,468

Filed 07/18/2008
	  	Fuel Compositions Comprising Tetramethylcyclohexane	  	 Issued as U.S. Patent No. 7,540,888 on
06/02/2009
  
 Published as US 20090020090 on 01/22/2009

	
[*]
	  	 US 12/175,465

Filed 07/18/2008
	  	Fuel Compositions Comprising Tetramethylcyclohexane	  	Published as US 20090020089 on 01/22/2009
	
[*]
	  	 US2008/008747

Filed: 07/17/2008
	  	Fuel Compositions Comprising Tetramethylcyclohexane	  	 Published as WO 2009/014636 on 01/29/2009

  
 Entered National Phase in Australia, Brazil, Canada,

China, Europe, Japan, Korea, India, Mexico, and South Africa

	
[*]
	  	 US 12/595,600

Filed 04/14/2008
	  	DXP Production of Isoprenoids	  	 Filed in US from PCT.

Published as WO 2008/128159 on 10/23/2008

	
[*]
	  	[*]	  	[*]	  	 
	
[*]
	  	 PCT/US/2007/024270

Filed 11/20/2007
	  	Jet Fuel Compositions and Methods for Making and Using the Same	  	 Published as WO 2008/133658 on 11/06/2008

  
 Entered National Phase in Australia, Brazil, Canada, China, Europe,
India, and South Africa

	
[*]
	  	 US2008/012107

Filed 10/24/2000
	  	Dial-A-Pump	  	 Published as WO 2009/055024 on 04/30/2009

  
 Entered National Phase in Brazil, Europe and United
States

  
 * Certain information on this page has
been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 B-3 

							
	Amyris Ref.
No.	  	
Serial No & Filing

Date
	  	Title	  	Status
	
[*]
	  	 US 12/234,589

Filed 09/19/2008
	  	Production of Isoprenoids	  	Published as US 20090137014 on 05/28/2009
	
[*]
	  	 US2008/010886

Filed 09/19/2008
	  	Production of Isoprenoids	  	 Published as WO 2009/042070 on 04/02/2009

  
 Entered National Phase in Australia, Brazil, Canada, China, Europe,
Japan, India, Mexico, and South Africa

	
[*]
	  	 US 12/361,478

Filed 01/28/2009
	  	Methods of Monitoring Metabolic Pathways	  	Published as US 2009/0203019 on 08/13/2009
	
[*]
	  	 PCT/US2009/032249

Filed 01/28/2009
	  	Methods of Monitoring Metabolic Pathways	  	Published as WO 2009/097339 on 08/06/2009
	
[*]
	  	 US 12/419.803

Filed 04/07/2009
	  	Expression of Heterologous Sequences	  	Published as US2009/0253174 on 10/08/2009
	
[*]
	  	 US2009/039769

Filed 04/08/2009
	  	Expression of Heterologous Sequences	  	Published as WO 2009/126623 on 10/15/2009
	
[*]
	  	 US 12/431,769

Filed 04/29/2009
	  	Jet Fuel Compositions and Methods of Making and Using the Same	  	 Issued as US 7,671,245 on
03/02/2010
  
 Published as US 2009/0272352 on
11/05/2009

	
[*]
	  	 US 12/432,733

Filed 04/29/2009
	  	Jet Fuel Compositions and Methods of Making and Using the Same	  	Published as US 2009/0272119 on 11/05/2009
	
[*]
	  	 US

Filed 04/29/2009
	  	Jet Fuel Compositions and Methods of Making and Using the Same	  	Published as WO 2009/134946 on 11/05/2009
	
[*]
	  	 US 61/220,587

Filed 06/26/2009
	  	Farnesene Interpolymers	  	 
	
[*]
	  	 US 12/552,282

Filed 09/01/2009
	  	Farnesene Interpolymers	  	 
	
[*]
	  	 PCT/US2009/004959

Filed 09/03/2009
	  	Farnesene Interpolymers	  	 
	
[*]
	  	[*]	  	[*]	  	 
	
[*]
	  	 US 12/393,024

Filed 02/25/2008
	  	Jet Fuel Compositions	  	Issued as US 7,589,243 on 09/15/2009
	
[*]
	  	 US 12/409,437

Filed 03/23/2009
	  	Lubricant Compositions and Methods of Making and Using the Same	  	Issued as US 7,592,295 on 09/22/2009

 
 * Certain information on this page has been omitted and filed separately with
the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 B-4 

							
	Amyris Ref.
No.	  	
Serial No & Filing

Date
	  	Title	  	Status
	
[*]
	  	 US 12/577,093

Filed 10/09/2009
	  	Lubricant Compositions and Methods of Making and Using the Same	  	Issued as US 7,691,792 on 04/06/2010
	
[*]
	  	 PCT/US2009/005543

Filed 10/09/2009
	  	Lubricant Compositions and Methods of Making and Using the Same	  	 
	
[*]
	  	 US 12/622,401

Filed 11/19/2009
	  	Compositions and Methods for the Rapid Assembly of Polynucleotides	  	 
	
[*]
	  	 US 12/684,874

Filed 01/08/2009
	  	Compositions and Methods for the Rapid Assembly of Polynucleotides	  	 
	
[*]
	  	 PCT/US2009/065048

Filed 11/19/2009
	  	Compositions and Methods for the Rapid Assembly of Polynucleotides	  	 
	
[*]
	  	[*]	  	[*]	  	 
	
[*]
	  	[*]	  	[*]	  	 
	
[*]
	  	[*]	  	[*]	  	 
	
[*]
	  	[*]	  	[*]	  	 
	
[*]
	  	[*]	  	[*]	  	 
	
[*]
	  	[*]	  	[*]	  	 
	
[*]
	  	[*]	  	[*]	  	 
	
[*]
	  	[*]	  	[*]	  	 
	
[*]
	  	[*]	  	[*]	  	 
	
[*]
	  	 US 61/220,588

Filed 06/26/2009
	  	Polyfarnesenes	  	 
	
[*]
	  	 US 12/552/278

Filed 09/01/2009
	  	Polyfarnesenes	  	Published as US 2010/0056743 on 03/04/2010
	
[*]
	  	 US 61/220,591

Filed 06/26/2009
	  	Adhesive Compositions Comprising Polyfarnesene	  	 
	
[*]
	  	 US 12/507,801

Filed 07/23/2009
	  	Adhesive Compositions Comprising Polyfarnesene	  	Issued as US 7,655,739 on 02/02/2010
	
[*]
	  	 US 12/694,120

Filed 01/26/2010
	  	Adhesive Compositions Comprising Polyfarnesene	  	 
	
[*]
	  	 PCT/US2009/004958

Filed 09/03/2009
	  	Adhesive Compositions Comprising Polyfarnesene	  	 
	
[*]
	  	 US 61/347,366

Filed 05/21/2010
	  	Methods for Preparing Isosqualene and Squalane	  	 

  

* Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

 B-5 

II.  [*]
 
 [*] 
  

* Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

 B-6 

 III.
 [*] 
 [*] 

 
 * Certain information on this page has been omitted and filed separately with
the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 B-7 

IV. 
 [*] 
 [*] 
  

* Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

 B-8 

 Execution Copy 

EXHIBIT C 

EXCLUDED MARKETS 

Definition of Markets included in “Excluded Markets” 

Flavors and Fragrances Markets: The markets for individual compounds or blends of aroma compounds with auxiliary materials
enabling desirable flavors or fragrances in the food, beverage, perfumery and cosmetics or consumer packaged goods industries. 

Cosmetics Markets: The markets for products intended to be applied to the human body for cleansing, beautifying, enhancing the
external color or texture of the skin, promoting attractiveness, or altering the appearance without affecting the body’s structure or functions. This includes soaps and gels, skin-care creams, lotions, powders, lipsticks, fingernail and toe
nail polish, eye and facial makeup, permanent waves, hair colors, hair sprays and gels, deodorants, baby products, bath oils, bubble baths, and bath salts. A subset of cosmetics is called “make-up” or “decorative cosmetics”,
which refers primarily to colored products intended to alter the user’s appearance. 
 Pharmaceuticals Market: The
markets for biological and medical products; botanical drugs and herbs; and pharmaceutical products intended for internal and external consumption in such forms as ampoules, tablets, capsules, vials, ointments, powders, solutions, and suspensions.

 Consumer Packaged Goods Market: The markets for consumable goods such as food and beverages, footwear and apparel,
personal and household cleaning products (e.g., surfactants)(whether sold in bulk for packaging or packaged). 
 Food
Additives Market: The markets for substances added to food to preserve flavor or improve its taste and appearance. 

Pesticides Market: The markets for products intended for the control of animal and plant pests or the regulation of the growth of
plants. 
  

 1 

 Execution Copy 

EXHIBIT D 

Royalty Calculation 

“Earning Before Royalty and Income Tax”(EBRIT): Earning before income tax according to GAAP (or such other
accounting standards agreed by the Parties in writing from time to time) without taking into account Royalties. 

Under the Agreement, royalty amount for year n shall be calculated according to the following formula: 

Royalty = R* (1-T) / (1+ R * (1-T)) *
EBRITyear
n  

Where: 

T is the effective income tax rate 

R: the applicable royalty rate as specified in the Section of the Agreement under which the royalty arises 

“Earning Before Royalty and Income Tax for year n”
(EBRITyear
n )
EBRITyear
 n = EBRIT +
EBRITyear
 n-1 If
EBRITyear
 n-1 is negative. 

Below is an example for illustrative purposes only. 

[*] 
  

* Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

 1 

 Execution Copy 

EXHIBIT E 

FTE Rates and Related Allocation 

[*] 
  

* Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

 1 

 Execution Copy 

EXHIBIT F -1 

TOTAL Competitors 

Any of the following entities or successors in interest thereof or any of their respective Affiliates: 

[*] 
  

* Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

 1 

 Execution Copy 

EXHIBIT F -2 

TOTAL Competitors 

Any of the following entities or successors in interest thereof or any of their respective Affiliates: 

[*] 
  

* Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

 2 

 Execution Copy 

EXHIBIT G 

Internal Rate of Return 

TOTAL shall establish a special account in which TOTAL shall record on a Calendar Quarterly basis: (i) all R&D Costs funded by
TOTAL (referred to in this clause as “(X)”) and (ii) all net cash inflows received by TOTAL from the JV Company (or the applicable entity) (referred to in this clause as “(Y)”). The amounts in (X) and (Y) shall be
(a) expressed in US dollars using the average exchange rate of the quarter during which such amounts were paid or received and (b) deflated using the cumulative inflation rate between the end of the first quarter in which R&D Costs
started to be funded by TOTAL and the end of the quarter in which such amounts are recorded. Such recalculated amounts are referred to in this clause as “(DefX)” and “(DefY).” An Internal Rate of Return shall be calculated at the
end of each Calendar Quarter. The Internal Rate of Return is the rate that when used to calculate a cumulated discounted amount, obtained by deducting the discounted (DefX) from the discounted (DefY) gives zero as a result. 

The inflation rate used for the calculation shall be the inflation rate as reported by the United States Department of Labor, Bureau of
Labor Statistics, CPI index. 
 For illustration purpose below is an example of such IRR calculation. 

[*] 
 [*]

  
 * Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 1 

 EXHIBIT H 

[*] 
  

* Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 
  

 H-3Form of Second Amended and Restated Memorandum

 Exhibit 4.2 

THE COMPANIES LAW 

EXEMPTED COMPANY LIMITED BY SHARES 

AMENDED AND RESTATED MEMORANDUM OF ASSOCIATION 

OF 

Global Education & Technology Group Limited 

(Adopted by special resolution passed on 17 September, 2010) 

 

	1.	The name of the Company is Global Education & Technology Group Limited. 

 

	2.	The Registered Office of the Company shall be at the offices of Codan Trust Company (Cayman) Limited, Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman,
KY1-1111, Cayman Islands. 

  

	3.	Subject to the following provisions of this Memorandum, the objects for which the Company is established are unrestricted. 

 

	4.	Subject to the following provisions of this Memorandum, the Company shall have and be capable of exercising all the functions of a natural person of full capacity
irrespective of any question of corporate benefit, as provided by Section 27(2) of the Companies Law. 

  

	5.	Nothing in this Memorandum shall permit the Company to carry on a business for which a licence is required under the laws of the Cayman Islands unless duly licensed.

  

	6.	The Company shall not trade in the Cayman Islands with any person, firm or corporation except in furtherance of the business of the Company carried on outside the
Cayman Islands; provided that nothing in this clause shall be construed as to prevent the Company effecting and concluding contracts in the Cayman Islands, and exercising in the Cayman Islands all of its powers necessary for the carrying on of its
business outside the Cayman Islands. 

  

	7.	The liability of each member is limited to the amount from time to time unpaid on such member’s shares. 

 

	8.	The share capital of the Company is US$50,000 divided into 500,000,000 shares of a nominal or par value of US$0.0001 each. 

 

	9.	The Company may exercise the power contained in the Companies Law to deregister in the Cayman Islands and be registered by way of continuation in another jurisdiction.

 The Companies Law (Revised) 

Company Limited by Shares 
  

THE AMENDED AND RESTATED 

ARTICLES OF ASSOCIATION 

OF 
 Global
Education & Technology Group Limited 
 (Adopted by way of a special resolution passed on September 17, 2010)

 I N D E X 

 

			
	 SUBJECT
	 	 Article No.

	 Table A
	 	      1
	 Interpretation
	 	      2
	 Share Capital
	 	      3
	 Alteration Of Capital
	 	      4-7
	 Share Rights
	 	      8-9
	 Variation Of Rights
	 	      10-11
	 Shares
	 	      12-15
	 Share Certificates
	 	      16-21
	 Lien
	 	      22-24
	 Calls On Shares
	 	      25-33
	 Forfeiture Of Shares
	 	      34-42
	 Register Of Members
	 	      43-44
	 Record Dates
	 	      45
	 Transfer Of Shares
	 	      46-51
	 Transmission Of Shares
	 	      52-54
	 Untraceable Members
	 	      55
	 General Meetings
	 	      56-58
	 Notice Of General Meetings
	 	      59-60
	 Proceedings At General Meetings
	 	      61-65
	 Voting
	 	      66-77
	 Proxies
	 	      78-83
	 Corporations Acting By Representatives
	 	      84
	 No Action By Written Resolutions Of Members
	 	      85
	 Board Of Directors
	 	      86
	 Retirement of Directors
	 	      87-88
	 Disqualification Of Directors
	 	      89
	 Executive Directors
	 	      90-91
	 [INTENTIONALLY DELETED]
	 	      92-95
	 Directors’ Fees And Expenses
	 	      96-99
	 Directors’ Interests
	 	      100-103
	 General Powers Of The Directors
	 	      104-109
	 Borrowing Powers
	 	      110-113
	 Proceedings Of The Directors
	 	      114-123
	 Committees
	 	      124-126
	 Managers
	 	      126A-126C
	 Officers
	 	      127-130
	 Register of Directors and Officers
	 	      131
	 Minutes
	 	      132
	 Seal
	 	      133
	 Authentication Of Documents
	 	      134
	 Destruction Of Documents
	 	      135
	 Dividends And Other Payments
	 	      136-145
	 Reserves
	 	      146
	 Capitalisation
	 	      147-148
	 Subscription Rights Reserve
	 	      149
	 Accounting Records
	 	      150-152
	 [INTENTIONALLY DELETED]
	 	      153-154

			
	 Audit
	 	      155-160
	 Notices
	 	      161-163
	 Signatures
	 	      164
	 Winding Up
	 	      165-166
	 Indemnity
	 	      167
	 Amendment To Memorandum and Articles of Association And Name of Company
	 	      168
	 Information
	 	      169

 INTERPRETATION 

TABLE A 
 1. The regulations in
Table A in the Schedule to the Companies Law (Revised) do not apply to the Company. 
 INTERPRETATION 

2. (1) In these Articles, unless the context otherwise requires, the words standing in the first column of the following table shall bear the meaning set
opposite them respectively in the second column. 
  

			
	 WORD
	  	 MEANING

		
	 “Audit Committee”
	  	the audit committee of the Company formed by the Board pursuant to Article 124) hereof, or any successor audit committee.
		
	 “Auditor”
	  	the independent auditor of the Company which shall be an internationally recognized firm of independent accountants.
		
	 “Articles”
	  	these Articles in their present form or as supplemented or amended or substituted from time to time.
		
	 “Board” or “Directors”
	  	the board of directors of the Company or the directors present at a meeting of directors of the Company.
		
	 “capital”
	  	the share capital from time to time of the Company.
		
	 “clear days”
	  	in relation to the period of a notice, that period excluding the day when the notice is given or deemed to be given and the day for which it is given or on which it is to take
effect.
		
	 “clearing house”
	  	a clearing house recognised by the laws of the jurisdiction in which the shares of the Company (or depositary receipts therefor) are listed or quoted on a stock exchange or
interdealer quotation system in such jurisdiction.
		
	 “Company”
	  	Global Education & Technology Group Limited
		
	 “competent regulatory

authority”
	  	a competent regulatory authority in the territory where the shares of the Company (or depositary receipts therefor) are listed or quoted on a stock exchange or interdealer
quotation system in such territory.

  

 1 

			
		
	 “debenture” and
	  	include debenture stock and debenture stockholder
	 “debenture holder”
	  	respectively.
		
	 “Designated Stock Exchange”
	  	 the Nasdaq Global Select Market of the NASDAQ

OMX Group, Inc., or such other exchange upon which the Company’s securities may be listed.

		
	 “dollars” and “$”
	  	dollars, the legal currency of the United States of America.
		
	 “Exchange Act”
	  	the Securities Exchange Act of 1934, as amended.
		
	 “head office”
	  	such office of the Company as the Directors may from time to time determine to be the principal office of the Company.
		
	 “Law”
	  	The Companies Law, Cap. 22 (Law 3 of 1961, as consolidated and revised) of the Cayman Islands.
		
	 “Member”
	  	a duly registered holder from time to time of the shares in the capital of the Company.
		
	 “month”
	  	a calendar month.
		
	 “Notice”
	  	written notice unless otherwise specifically stated and as further defined in these Articles.
		
	 “Office”
	  	the registered office of the Company for the time being.
		
	 “ordinary resolution”
	  	 a resolution shall be an ordinary resolution when it has been passed by a simple majority of votes cast by such Members as, being
entitled so to do, vote in person or, in the case of any Member being a corporation, by its duly authorised representative or, where proxies are allowed, by proxy at a general meeting of which not less than ten (10) clear days’ Notice has
been duly given;

		
	 “paid up”
	  	paid up or credited as paid up.
		
	 “Register”
	  	the principal register and where applicable, any branch register of Members of the Company to be maintained at such place within or outside the Cayman Islands as the Board shall
determine from time to time.

  

 2 

			
		
	 “Registration Office”
	  	in respect of any class of share capital such place as the Board may from time to time determine to keep a branch register of Members in respect of that class of share capital
and where (except in cases where the Board otherwise directs) the transfers or other documents of title for such class of share capital are to be lodged for registration and are to be registered.
		
	 “SEC”
	  	the United States Securities and Exchange Commission.
		
	 “Seal”
	  	common seal or any one or more duplicate seals of the Company (including a securities seal) for use in the Cayman Islands or in any place outside the Cayman
Islands.
		
	 “Secretary”
	  	any person, firm or corporation appointed by the Board to perform any of the duties of secretary of the Company and includes any assistant, deputy, temporary or acting secretary.

		
	 “special resolution”
	  	a resolution shall be a special resolution when it has been passed by a majority of not less than two-thirds of votes cast by such Members as, being entitled so to do, vote in
person or, in the case of such Members as are corporations, by their respective duly authorised representative or, where proxies are allowed, by proxy at a general meeting of which not less than ten (10) clear days’ Notice, specifying
(without prejudice to the power contained in these Articles to amend the same) the intention to propose the resolution as a special resolution, has been duly given. Provided that, except in the case of an annual general meeting, if it is so agreed
by a majority in number of the Members having the right to attend and vote at any such meeting, being a majority together holding not less than ninety-five (95) per cent. in nominal value of the shares giving that right and in the case of an
annual general meeting, if it is so agreed by all Members entitled to attend and vote thereat, a resolution may be proposed and passed as a special resolution at a meeting of which less than ten (10) clear days’ Notice has been
given;
		
	 “Statutes”
	  	a special resolution shall be effective for any purpose for which an ordinary resolution is expressed to be required under any provision of these Articles or the Statutes. the
Law and every other law of the Legislature of the Cayman Islands for the time being in force applying to or affecting the Company, its Memorandum of Association and/or these Articles.
		
	 “year”
	  	a calendar year.

  

 3 

 (2) In these Articles, unless there be something within the subject or context inconsistent
with such construction: 
  

	 	(a)	words importing the singular include the plural and vice versa; 

  

	 	(b)	words importing a gender include both gender and the neuter; 

  

	 	(c)	words importing persons include companies, associations and bodies of persons whether corporate or not; 

 

	 	(d)	the words: 

  

	 	(i)	“may” shall be construed as permissive; 

  

	 	(ii)	“shall” or “will” shall be construed as imperative; 

  

	 	(e)	expressions referring to writing shall, unless the contrary intention appears, be construed as including printing, lithography, photography, electronic mail and other
modes of representing words or figures in a visible form, and including where the representation takes the form of electronic display, provided that both the mode of service of the relevant document or notice and the Member’s election comply
with all applicable Statutes, rules and regulations; 

  

	 	(f)	references to any law, ordinance, statute or statutory provision shall be interpreted as relating to any statutory modification or re-enactment thereof for the time
being in force; 

  

	 	(g)	save as aforesaid words and expressions defined in the Statutes shall bear the same meanings in these Articles if not inconsistent with the subject in the context;

  

	 	(h)	references to a document being executed include references to it being executed under hand or under seal or by electronic signature or by any other method and
references to a notice or document include a notice or document recorded or stored in any digital, electronic, electrical, magnetic or other retrievable form or medium and information in visible form whether having physical substance or not;

  

 4 

	 	(i)	Section 8 of the Electronic Transactions Law (2003) of the Cayman Islands, as amended from time to time, shall not apply to these Articles to the extent it
imposes obligations or requirements in addition to those set out in these Articles. 

 SHARE CAPITAL

  

	3.	(1) The share capital of the Company at the date on which these Articles come into effect shall be divided into shares of a par value of $0.0001 each.

 (2) Subject to the Law, the Company’s Memorandum and Articles of Association and, where applicable, the
rules of the Designated Stock Exchange and/or any competent regulatory authority, any power of the Company to purchase or otherwise acquire its own shares shall be exercisable by the Board in such manner, upon such terms and subject to such
conditions as it thinks fit. 
 (3) No share shall be issued to bearer. 

ALTERATION OF CAPITAL 
  

	4.	The Company may from time to time by ordinary resolution in accordance with the Law alter the conditions of its Memorandum of Association to: 

 

	 	(a)	increase its capital by such sum, to be divided into shares of such amounts, as the resolution shall prescribe; 

 

	 	(b)	consolidate and divide all or any of its capital into shares of larger amount than its existing shares; 

 

	 	(c)	without prejudice to the powers of the Board under Article 12, divide its shares into several classes and without prejudice to any special rights previously conferred
on the holders of existing shares attach thereto respectively any preferential, deferred, qualified or special rights, privileges, conditions or such restrictions which in the absence of any such determination by the Company in general meeting, as
the Directors may determine provided always that, for the avoidance of doubt, where a class of shares has been authorized by the Company no resolution of the Company in general meeting is required for the issuance of shares of that class and the
Directors may issue shares of that class and determine such rights, privileges, conditions or restrictions attaching thereto as aforesaid, and further provided that where the Company issues shares which do not carry voting rights, the words
“non-voting” shall appear in the designation of such shares and where the equity capital includes shares with different voting rights, the designation of each class of shares, other than those with the most favourable voting rights, must
include the words “restricted voting” or “limited voting”; 

  

 5 

	 	(d)	sub-divide its shares, or any of them, into shares of smaller amount than is fixed by the Memorandum of Association (subject, nevertheless, to the Law), and may by such
resolution determine that, as between the holders of the shares resulting from such sub-division, one or more of the shares may have any such preferred, deferred or other rights or be subject to any such restrictions as compared with the other or
others as the Company has power to attach to unissued or new shares; 

  

	 	(e)	cancel any shares which, at the date of the passing of the resolution, have not been taken, or agreed to be taken, by any person, and diminish the amount of its capital
by the amount of the shares so cancelled or, in the case of shares, without par value, diminish the number of shares into which its capital is divided. 

  

	5.	The Board may settle as it considers expedient any difficulty which arises in relation to any consolidation and division under the last preceding Article and in
particular but without prejudice to the generality of the foregoing may issue certificates in respect of fractions of shares or arrange for the sale of the shares representing fractions and the distribution of the net proceeds of sale (after
deduction of the expenses of such sale) in due proportion amongst the Members who would have been entitled to the fractions, and for this purpose the Board may authorise some person to transfer the shares representing fractions to their purchaser or
resolve that such net proceeds be paid to the Company for the Company’s benefit. Such purchaser will not be bound to see to the application of the purchase money nor will his title to the shares be affected by any irregularity or invalidity in
the proceedings relating to the sale. 

  

	6.	The Company may from time to time by special resolution, subject to any confirmation or consent required by the Law, reduce its share capital or any capital redemption
reserve in any manner permitted by law. 

  

	7.	Except so far as otherwise provided by the conditions of issue, or by these Articles, any capital raised by the creation of new shares shall be treated as if it formed
part of the original capital of the Company, and such shares shall be subject to the provisions contained in these Articles with reference to the payment of calls and instalments, transfer and transmission, forfeiture, lien, cancellation, surrender,
voting and otherwise. 

 SHARE RIGHTS 

 

	8.	Subject to the provisions of the Law, the rules of the Designated Stock Exchange and the Memorandum and Articles of Association and to any special rights conferred on
the holders of any shares or class of shares, and without prejudice to Article 12 hereof, any share in the Company (whether forming part of the present capital or not) may be issued with or have attached thereto such rights or restrictions whether
in regard to dividend, voting, return of capital or otherwise as the Board may determine, including without limitation on terms that they may be, or at the option of the Company or the holder are, liable to be redeemed on such terms and in such
manner, including out of capital, as the Board may deem fit. 

  

 6 

	9.	Subject to the Law, any preferred shares may be issued or converted into shares that, at a determinable date or at the option of the Company or the holder if so
authorised by its Memorandum of Association, are liable to be redeemed on such terms and in such manner as the Company before the issue or conversion may by ordinary resolution of the Members determine. Where the Company purchases for redemption a
redeemable share, purchases not made through the market or by tender shall be limited to a maximum price as may from time to time be determined by the Board, either generally or with regard to specific purchases. If purchases are by tender, tenders
shall comply with applicable laws. 

 VARIATION OF RIGHTS 

 

	10.	Subject to the Law and without prejudice to Article 8, all or any of the special rights for the time being attached to the shares or any class of shares may, unless
otherwise provided by the terms of issue of the shares of that class, from time to time (whether or not the Company is being wound up) be varied, modified or abrogated with the sanction of a special resolution passed at a separate general meeting of
the holders of the shares of that class. To every such separate general meeting all the provisions of these Articles relating to general meetings of the Company shall, mutatis mutandis, apply, but so that: 

 

	 	(a)	the necessary quorum (whether at a separate general meeting or at its adjourned meeting) shall be a person or persons (or in the case of a Member being a corporation,
its duly authorized representative) together holding or representing by proxy not less than one-third in nominal value of the issued shares of that class; 

  

	 	(b)	every holder of shares of the class shall be entitled on a poll to one vote for every such share held by him; and 

 

	 	(c)	any holder of shares of the class present in person or by proxy or authorised representative may demand a poll. 

 

	11.	The special rights conferred upon the holders of any shares or class of shares shall not, unless otherwise expressly provided in the rights attaching to or the terms of
issue of such shares, be deemed to be varied, modified or abrogated by the creation or issue of further shares ranking pari passu therewith. 

SHARES 
  

	12.	 (1) Subject to the Law, these Articles and, where applicable, the rules of the Designated Stock Exchange and without prejudice to any special rights or
restrictions for the time being attached to any shares or any class of shares, the unissued shares of 

 

 7 

	 	 
the Company (whether forming part of the original or any increased capital) shall be at the disposal of the Board, which may offer, allot, grant options over or otherwise dispose of them to such
persons, at such times and for such consideration and upon such terms and conditions as the Board may in its absolute discretion determine but so that no shares shall be issued at a discount. In particular and without prejudice to the generality of
the foregoing, the Board is hereby empowered to authorize by resolution or resolutions from time to time the issuance of one or more classes or series of preferred shares and to fix the designations, powers, preferences and relative, participating,
optional and other rights, if any, and the qualifications, limitations and restrictions thereof, if any, including, without limitation, the number of shares constituting each such class or series, dividend rights, conversion rights, redemption
privileges, voting powers, full or limited or no voting powers, and liquidation preferences, and to increase or decrease the size of any such class or series (but not below the number of shares of any class or series of preferred shares then
outstanding) to the extent permitted by Law. Without limiting the generality of the foregoing, the resolution or resolutions providing for the establishment of any class or series of preferred shares may, to the extent permitted by law, provide that
such class or series shall be superior to, rank equally with or be junior to the preferred shares of any other class or series. 

(2) Neither the Company nor the Board shall be obliged, when making or granting any allotment of, offer of, option over or disposal of
shares, to make, or make available, any such allotment, offer, option or shares to Members or others with registered addresses in any particular territory or territories being a territory or territories where, in the absence of a registration
statement or other special formalities, this would or might, in the opinion of the Board, be unlawful or impracticable. Members affected as a result of the foregoing sentence shall not be, or be deemed to be, a separate class of members for any
purpose whatsoever. Except as otherwise expressly provided in the resolution or resolutions providing for the establishment of any class or series of preferred shares, no vote of the holders of preferred shares of or ordinary shares shall be a
prerequisite to the issuance of any shares of any class or series of the preferred shares authorized by and complying with the conditions of the Memorandum and Articles of Association. 

(3) The Board may issue options, warrants or convertible securities or securities of similar nature conferring the right upon the holders
thereof to subscribe for, purchase or receive any class of shares or securities in the capital of the Company on such terms as it may from time to time determine. 
  

	13.	The Company may in connection with the issue of any shares exercise all powers of paying commission and brokerage conferred or permitted by the Law. Subject to the Law,
the commission may be satisfied by the payment of cash or by the allotment of fully or partly paid shares or partly in one and partly in the other. 

  

	14.	Except as required by law, no person shall be recognised by the Company as holding any share upon any trust and the Company shall not be bound by or required in any way
to recognise (even when having notice thereof) any equitable, contingent, future or partial interest in any share or any fractional part of a share or (except only as otherwise provided by these Articles or by law) any other rights in respect of any
share except an absolute right to the entirety thereof in the registered holder. 

  

 8 

	15.	Subject to the Law and these Articles, the Board may at any time after the allotment of shares but before any person has been entered in the Register as the holder,
recognise a renunciation thereof by the allottee in favour of some other person and may accord to any allottee of a share a right to effect such renunciation upon and subject to such terms and conditions as the Board considers fit to impose.

 SHARE CERTIFICATES 
  

	16.	Every share certificate shall be issued under the Seal or a facsimile thereof and shall specify the number and class and distinguishing numbers (if any) of the shares
to which it relates, and the amount paid up thereon and may otherwise be in such form as the Directors may from time to time determine. No certificate shall be issued representing shares of more than one class. The Board may by resolution determine,
either generally or in any particular case or cases, that any signatures on any such certificates (or certificates in respect of other securities) need not be autographic but may be affixed to such certificates by some mechanical means or may be
printed thereon. 

  

	17.	(1) In the case of a share held jointly by several persons, the Company shall not be bound to issue more than one certificate therefor and delivery of a certificate to
one of several joint holders shall be sufficient delivery to all such holders. 

 (2) Where a share stands in the
names of two or more persons, the person first named in the Register shall as regards service of notices and, subject to the provisions of these Articles, all or any other matters connected with the Company, except the transfer of the shares, be
deemed the sole holder thereof. 
  

	18.	Every person whose name is entered, upon an allotment of shares, as a Member in the Register shall be entitled, without payment, to receive one certificate for all such
shares of any one class or several certificates each for one or more of such shares of such class upon payment for every certificate after the first of such reasonable out-of-pocket expenses as the Board from time to time determines.

  

	19.	Share certificates shall be issued within the relevant time limit as prescribed by the Law or as the Designated Stock Exchange may from time to time determine,
whichever is the shorter, after allotment or, except in the case of a transfer which the Company is for the time being entitled to refuse to register and does not register, after lodgment of a transfer with the Company. 

 

	20.	(1) Upon every transfer of shares the certificate held by the transferor shall be given up to be cancelled, and shall forthwith be cancelled accordingly, and a new
certificate shall be issued to the transferee in respect of the shares transferred to him at such fee as is provided in paragraph (2) of this Article. If any of the shares included in the certificate so given up shall be retained by the
transferor a new certificate for the balance shall be issued to him at the aforesaid fee payable by the transferor to the Company in respect thereof. 

 

 9 

 (2) The fee referred to in paragraph (1) above shall be an amount not exceeding the
relevant maximum amount as the Designated Stock Exchange may from time to time determine provided that the Board may at any time determine a lower amount for such fee. 
  

	21.	If a share certificate shall be damaged or defaced or alleged to have been lost, stolen or destroyed a new certificate representing the same shares may be issued to the
relevant Member upon request and on payment of such fee as the Company may determine and, subject to compliance with such terms (if any) as to evidence and indemnity and to payment of the costs and reasonable out-of-pocket expenses of the Company in
investigating such evidence and preparing such indemnity as the Board may think fit and, in case of damage or defacement, on delivery of the old certificate to the Company provided always that where share warrants have been issued, no new share
warrant shall be issued to replace one that has been lost unless the Board has determined that the original has been destroyed. 

LIEN 
  

	22.	The Company shall have a first and paramount lien on every share (not being a fully paid share) for all moneys (whether presently payable or not) called or payable at a
fixed time in respect of that share. The Company shall also have a first and paramount lien on every share (not being a fully paid share) registered in the name of a Member (whether or not jointly with other Members) for all amounts of money
presently payable by such Member or his estate to the Company whether the same shall have been incurred before or after notice to the Company of any equitable or other interest of any person other than such member, and whether the period for the
payment or discharge of the same shall have actually arrived or not, and notwithstanding that the same are joint debts or liabilities of such Member or his estate and any other person, whether a Member of the Company or not. The Company’s lien
on a share shall extend to all dividends or other moneys payable thereon or in respect thereof. The Board may at any time, generally or in any particular case, waive any lien that has arisen or declare any share exempt in whole or in part, from the
provisions of this Article. 

  

	23.	Subject to these Articles, the Company may sell in such manner as the Board determines any share on which the Company has a lien, but no sale shall be made unless some
sum in respect of which the lien exists is presently payable, or the liability or engagement in respect of which such lien exists is liable to be presently fulfilled or discharged nor until the expiration of fourteen (14) clear days after a
notice in writing, stating and demanding payment of the sum presently payable, or specifying the liability or engagement and demanding fulfilment or discharge thereof and giving notice of the intention to sell in default, has been served on the
registered holder for the time being of the share or the person entitled thereto by reason of his death or bankruptcy. 

  

 10 

	24.	The net proceeds of the sale shall be received by the Company and applied in or towards payment or discharge of the debt or liability in respect of which the lien
exists, so far as the same is presently payable, and any residue shall (subject to a like lien for debts or liabilities not presently payable as existed upon the share prior to the sale) be paid to the person entitled to the share at the time of the
sale. To give effect to any such sale the Board may authorise some person to transfer the shares sold to the purchaser thereof. The purchaser shall be registered as the holder of the shares so transferred and he shall not be bound to see to the
application of the purchase money, nor shall his title to the shares be affected by any irregularity or invalidity in the proceedings relating to the sale. 

CALLS ON SHARES 
  

	25.	Subject to these Articles and to the terms of allotment, the Board may from time to time make calls upon the Members in respect of any moneys unpaid on their shares
(whether on account of the nominal value of the shares or by way of premium), and each Member shall (subject to being given at least fourteen (14) clear days’ Notice specifying the time and place of payment) pay to the Company as required
by such notice the amount called on his shares. A call may be extended, postponed or revoked in whole or in part as the Board determines but no member shall be entitled to any such extension, postponement or revocation except as a matter of grace
and favour. 

  

	26.	A call shall be deemed to have been made at the time when the resolution of the Board authorising the call was passed and may be made payable either in one lump sum or
by instalments. 

  

	27.	A person upon whom a call is made shall remain liable for calls made upon him notwithstanding the subsequent transfer of the shares in respect of which the call was
made. The joint holders of a share shall be jointly and severally liable to pay all calls and instalments due in respect thereof or other moneys due in respect thereof. 

 

	28.	If a sum called in respect of a share is not paid before or on the day appointed for payment thereof, the person from whom the sum is due shall pay interest on the
amount unpaid from the day appointed for payment thereof to the time of actual payment at such rate (not exceeding twenty per cent. (20%) per annum) as the Board may determine, but the Board may in its absolute discretion waive payment of such
interest wholly or in part. 

  

	29.	No Member shall be entitled to receive any dividend or bonus or to be present and vote (save as proxy for another Member) at any general meeting either personally or by
proxy, or be reckoned in a quorum, or exercise any other privilege as a Member until all calls or instalments due by him to the Company, whether alone or jointly with any other person, together with interest and expenses (if any) shall have been
paid. 

  

 11 

	30.	On the trial or hearing of any action or other proceedings for the recovery of any money due for any call, it shall be sufficient to prove that the name of the Member
sued is entered in the Register as the holder, or one of the holders, of the shares in respect of which such debt accrued, that the resolution making the call is duly recorded in the minute book, and that notice of such call was duly given to the
Member sued, in pursuance of these Articles; and it shall not be necessary to prove the appointment of the Directors who made such call, nor any other matters whatsoever, but the proof of the matters aforesaid shall be conclusive evidence of the
debt. 

  

	31.	Any amount payable in respect of a share upon allotment or at any fixed date, whether in respect of nominal value or premium or as an instalment of a call, shall be
deemed to be a call duly made and payable on the date fixed for payment and if it is not paid the provisions of these Articles shall apply as if that amount had become due and payable by virtue of a call duly made and notified.

  

 12 

	32.	On the issue of shares the Board may differentiate between the allottees or holders as to the amount of calls to be paid and the times of payment.

  

	33.	The Board may, if it thinks fit, receive from any Member willing to advance the same, and either in money or money’s worth, all or any part of the moneys uncalled
and unpaid or instalments payable upon any shares held by him and upon all or any of the moneys so advanced (until the same would, but for such advance, become presently payable) pay interest at such rate (if any) as the Board may decide. The Board
may at any time repay the amount so advanced upon giving to such Member not less than one month’s Notice of its intention in that behalf, unless before the expiration of such notice the amount so advanced shall have been called up on the shares
in respect of which it was advanced. Such payment in advance shall not entitle the holder of such share or shares to participate in respect thereof in a dividend subsequently declared. 

FORFEITURE OF SHARES 
  

	34.	(1) If a call remains unpaid after it has become due and payable the Board may give to the person from whom it is due not less than fourteen (14) clear days’
Notice: 

  

	 	(a)	requiring payment of the amount unpaid together with any interest which may have accrued and which may still accrue up to the date of actual payment; and

  

	 	(b)	stating that if the Notice is not complied with the shares on which the call was made will be liable to be forfeited. 

(2) If the requirements of any such Notice are not complied with, any share in respect of which such Notice has been given may at any time
thereafter, before payment of all calls and interest due in respect thereof has been made, be forfeited by a resolution of the Board to that effect, and such forfeiture shall include all dividends and bonuses declared in respect of the forfeited
share but not actually paid before the forfeiture. 
  

	35.	When any share has been forfeited, notice of the forfeiture shall be served upon the person who was before forfeiture the holder of the share. No forfeiture shall be
invalidated by any omission or neglect to give such Notice. 

  

	36.	The Board may accept the surrender of any share liable to be forfeited hereunder and, in such case, references in these Articles to forfeiture will include surrender.

  

	37.	Any share so forfeited shall be deemed the property of the Company and may be sold, re-allotted or otherwise disposed of to such person, upon such terms and in such
manner as the Board determines, and at any time before a sale, re-allotment or disposition the forfeiture may be annulled by the Board on such terms as the Board determines. 

 

 13 

	38.	A person whose shares have been forfeited shall cease to be a Member in respect of the forfeited shares but nevertheless shall remain liable to pay the Company all
moneys which at the date of forfeiture were presently payable by him to the Company in respect of the shares, with (if the Directors shall in their discretion so require) interest thereon from the date of forfeiture until payment at such rate (not
exceeding twenty per cent. (20%) per annum) as the Board determines. The Board may enforce payment thereof if it thinks fit, and without any deduction or allowance for the value of the forfeited shares, at the date of forfeiture, but his
liability shall cease if and when the Company shall have received payment in full of all such moneys in respect of the shares. For the purposes of this Article any sum which, by the terms of issue of a share, is payable thereon at a fixed time which
is subsequent to the date of forfeiture, whether on account of the nominal value of the share or by way of premium, shall notwithstanding that time has not yet arrived be deemed to be payable at the date of forfeiture, and the same shall become due
and payable immediately upon the forfeiture, but interest thereon shall only be payable in respect of any period between the said fixed time and the date of actual payment. 

 

	39.	A declaration by a Director or the Secretary that a share has been forfeited on a specified date shall be conclusive evidence of the facts therein stated as against all
persons claiming to be entitled to the share, and such declaration shall (subject to the execution of an instrument of transfer by the Company if necessary) constitute a good title to the share, and the person to whom the share is disposed of shall
be registered as the holder of the share and shall not be bound to see to the application of the consideration (if any), nor shall his title to the share be affected by any irregularity in or invalidity of the proceedings in reference to the
forfeiture, sale or disposal of the share. When any share shall have been forfeited, notice of the declaration shall be given to the Member in whose name it stood immediately prior to the forfeiture, and an entry of the forfeiture, with the date
thereof, shall forthwith be made in the register, but no forfeiture shall be in any manner invalidated by any omission or neglect to give such notice or make any such entry. 

 

	40.	Notwithstanding any such forfeiture as aforesaid the Board may at any time, before any shares so forfeited shall have been sold, re-allotted or otherwise disposed of,
permit the shares forfeited to be bought back upon the terms of payment of all calls and interest due upon and expenses incurred in respect of the share, and upon such further terms (if any) as it thinks fit. 

 

	41.	The forfeiture of a share shall not prejudice the right of the Company to any call already made or instalment payable thereon. 

 

	42.	The provisions of these Articles as to forfeiture shall apply in the case of non-payment of any sum which, by the terms of issue of a share, becomes payable at a fixed
time, whether on account of the nominal value of the share or by way of premium, as if the same had been payable by virtue of a call duly made and notified. 

  

 14 

 REGISTER OF MEMBERS 

 

	43.	(1) The Company shall keep in one or more books a Register of its Members and shall enter therein the following particulars, that is to say: 

 

	 	(a)	the name and address of each Member, the number and class of shares held by him and the amount paid or agreed to be considered as paid on such shares;

  

 15 

	 	(b)	the date on which each person was entered in the Register; and 

  

	 	(c)	the date on which any person ceased to be a Member. 

(2) The Company may keep an overseas or local or other branch register of Members resident in any place, and the Board may make and vary
such regulations as it determines in respect of the keeping of any such register and maintaining a Registration Office in connection therewith. 
  

	44.	The Register and branch register of Members, as the case may be, shall be open to inspection for such times and on such days as the Board shall determine by Members
without charge or by any other person, upon a maximum payment of $5.00 or such other sum specified by the Board, at the Office or Registration Office or such other place at which the Register is kept in accordance with the Law. The Register
including any overseas or local or other branch register of Members may, after compliance with any notice requirement of the Designated Stock Exchange , be closed at such times or for such periods not exceeding in the whole thirty (30) days in
each year as the Board may determine and either generally or in respect of any class of shares. 

 RECORD
DATES 
  

	45.	For the purpose of determining the Members entitled to notice of or to vote at any general meeting, or any adjournment thereof, or entitled to express consent to
corporate action in writing without a meeting, or entitled to receive payment of any dividend or other distribution or allotment of any rights, or entitled to exercise any rights in respect of any change, conversion or exchange of shares or for the
purpose of any other lawful action, the Board may fix, in advance, a date as the record date for any such determination of Members, which date shall not be more than sixty (60) days nor less than ten (10) days before the date of such
meeting, nor more than sixty (60) days prior to any other such action. 

 If the Board does not fix a record
date for any general meeting, the record date for determining the Members entitled to a notice of or to vote at such meeting shall be at the close of business on the day next preceding the day on which notice is given, or, if in accordance with
these Articles notice is waived, at the close of business on the day next preceding the day on which the meeting is held. If corporate action without a general meeting is to be taken, the record date for determining the Members entitled to express
consent to such corporate action in writing, when no prior action by the Board is necessary, shall be the first date on which a signed written consent setting forth the action taken or proposed to be taken is delivered to the Company by delivery to
its head office. The record date for determining the Members for any other purpose shall be at the close of business on the day on which the Board adopts the resolution relating thereto. 

 

 16 

 A determination of the Members of record entitled to notice of or to vote at a meeting of
the Members shall apply to any adjournment of the meeting; provided, however, that the Board may fix a new record date for the adjourned meeting. 

TRANSFER OF SHARES 
  

	46.	Subject to these Articles, any Member may transfer all or any of his shares by an instrument of transfer in the usual or common form or in a form prescribed by the
Designated Stock Exchange or in any other form approved by the Board and may be under hand or, if the transferor or transferee is a clearing house or a central depository house or its nominee(s), by hand or by machine imprinted signature or by such
other manner of execution as the Board may approve from time to time. 

  

	47.	The instrument of transfer shall be executed by or on behalf of the transferor and the transferee provided that the Board may dispense with the execution of the
instrument of transfer by the transferee in any case which it thinks fit in its discretion to do so. Without prejudice to the last preceding Article, the Board may also resolve, either generally or in any particular case, upon request by either the
transferor or transferee, to accept mechanically executed transfers. The transferor shall be deemed to remain the holder of the share until the name of the transferee is entered in the Register in respect thereof. Nothing in these Articles shall
preclude the Board from recognising a renunciation of the allotment or provisional allotment of any share by the allottee in favour of some other person. 

  

	48.	(1) The Board may, in its absolute discretion, and without giving any reason therefor, refuse to register a transfer of any share (not being a fully paid up share) to a
person of whom it does not approve, or any share issued under any share incentive scheme for employees upon which a restriction on transfer imposed thereby still subsists, and it may also, without prejudice to the foregoing generality, refuse to
register a transfer of any share to more than four joint holders or a transfer of any share (not being a fully paid up share) on which the Company has a lien. 

(2) The Board in so far as permitted by any applicable law may, in its absolute discretion, at any time and from time to time transfer any
share upon the Register to any branch register or any share on any branch register to the Register or any other branch register. In the event of any such transfer, the shareholder requesting such transfer shall bear the cost of effecting the
transfer unless the Board otherwise determines. 
 (3) Unless the Board otherwise agrees (which agreement may be on such terms
and subject to such conditions as the Board in its absolute discretion may from time to time determine, and which agreement the Board shall, without giving any reason therefor, be entitled in its absolute discretion to give or withhold), no shares
upon the Register shall be transferred to any branch register nor shall shares on any branch register be transferred to the Register or any other branch register and all transfers and other documents of title shall be lodged for registration, and
registered, in the case of any shares on a branch register, at the relevant Registration Office, and, in the case of any shares on the Register, at the Office or such other place at which the Register is kept in accordance with the Law. 

 

 17 

	49.	Without limiting the generality of the last preceding Article, the Board may decline to recognise any instrument of transfer unless:- 

 

	 	(a)	a fee of such maximum sum as the Designated Stock Exchange may determine to be payable or such lesser sum as the Board may from time to time require is paid to the
Company in respect thereof; 

  

	 	(b)	the instrument of transfer is in respect of only one class of share; 

  

	 	(c)	the instrument of transfer is lodged at the Office or such other place at which the Register is kept in accordance with the Law or the Registration Office (as the case
may be) accompanied by the relevant share certificate(s) and such other evidence as the Board may reasonably require to show the right of the transferor to make the transfer (and, if the instrument of transfer is executed by some other person on his
behalf, the authority of that person so to do); and 

  

	 	(d)	if applicable, the instrument of transfer is duly and properly stamped. 

  

	50.	If the Board refuses to register a transfer of any share, it shall, within three months after the date on which the transfer was lodged with the Company, send to each
of the transferor and transferee notice of the refusal. 

  

	51.	The registration of transfers of shares or of any class of shares may, after compliance with any notice requirement of the Designated Stock Exchange, be suspended at
such times and for such periods (not exceeding in the whole thirty (30) days in any year) as the Board may determine. 

TRANSMISSION OF SHARES 
  

	52.	If a Member dies, the survivor or survivors where the deceased was a joint holder, and his legal personal representatives where he was a sole or only surviving holder,
will be the only persons recognised by the Company as having any title to his interest in the shares; but nothing in this Article will release the estate of a deceased Member (whether sole or joint) from any liability in respect of any share which
had been solely or jointly held by him. 

  

	53.	 Any person becoming entitled to a share in consequence of the death or bankruptcy or winding-up of a Member may, upon such evidence as to his title
being produced as may be required by the Board, elect either to become the holder of the share or to have some person nominated by him registered as the transferee thereof. If he elects to become the holder he shall notify the Company in writing
either at the Registration Office or Office, as the case may be, to that effect. If he elects to have another person registered he shall execute a transfer of the share in favour of that person. The provisions of these Articles relating to the
transfer and registration of transfers of 

  

 18 

	 	 
shares shall apply to such notice or transfer as aforesaid as if the death or bankruptcy of the Member had not occurred and the notice or transfer were a transfer signed by such Member.

  

	54.	A person becoming entitled to a share by reason of the death or bankruptcy or winding-up of a Member shall be entitled to the same dividends and other advantages to
which he would be entitled if he were the registered holder of the share. However, the Board may, if it thinks fit, withhold the payment of any dividend payable or other advantages in respect of such share until such person shall become the
registered holder of the share or shall have effectually transferred such share, but, subject to the requirements of Article 75(2) being met, such a person may vote at meetings. 

UNTRACEABLE MEMBERS 
  

	55.	(1) Without prejudice to the rights of the Company under paragraph (2) of this Article, the Company may cease sending cheques for dividend entitlements or dividend
warrants by post if such cheques or warrants have been left uncashed on two consecutive occasions. However, the Company may exercise the power to cease sending cheques for dividend entitlements or dividend warrants after the first occasion on which
such a cheque or warrant is returned undelivered. 

 (2) The Company shall have the power to sell, in such manner
as the Board thinks fit, any shares of a Member who is untraceable, but no such sale shall be made unless: 
  

	 	(a)	all cheques or warrants in respect of dividends of the shares in question, being not less than three in total number, for any sum payable in cash to the holder of such
shares in respect of them sent during the relevant period in the manner authorised by the Articles of the Company have remained uncashed; 

  

	 	(b)	so far as it is aware at the end of the relevant period, the Company has not at any time during the relevant period received any indication of the existence of the
Member who is the holder of such shares or of a person entitled to such shares by death, bankruptcy or operation of law; and 

  

	 	(c)	the Company, if so required by the rules governing the listing of shares on the Designated Stock Exchange, has given notice to, and caused advertisement in newspapers
to be made in accordance with the requirements of, the Designated Stock Exchange of its intention to sell such shares in the manner required by the Designated Stock Exchange, and a period of three months or such shorter period as may be allowed by
the Designated Stock Exchange has elapsed since the date of such advertisement. 

 For the purpose of the
foregoing, the “relevant period” means the period commencing twelve (12) years before the date of publication of the advertisement referred to in paragraph (c) of this Article and ending at the expiry of the period referred to in
that paragraph. 
  

 19 

 (3) To give effect to any such sale the Board may authorise some person to transfer the said
shares and an instrument of transfer signed or otherwise executed by or on behalf of such person shall be as effective as if it had been executed by the registered holder or the person entitled by transmission to such shares, and the purchaser shall
not be bound to see to the application of the purchase money nor shall his title to the shares be affected by any irregularity or invalidity in the proceedings relating to the sale. The net proceeds of the sale will belong to the Company and upon
receipt by the Company of such net proceeds it shall become indebted to the former Member for an amount equal to such net proceeds. No trust shall be created in respect of such debt and no interest shall be payable in respect of it and the Company
shall not be required to account for any money earned from the net proceeds which may be employed in the business of the Company or as it thinks fit. Any sale under this Article shall be valid and effective notwithstanding that the Member holding
the shares sold is dead, bankrupt or otherwise under any legal disability or incapacity. 
 GENERAL MEETINGS 

 

	56.	An annual general meeting of the Company shall be held in each year other than the year in which these Articles were adopted at such time and place as may be determined
by the Board. 

  

	57.	Each general meeting, other than an annual general meeting, shall be called an extraordinary general meeting. General meetings may be held at such times and in any
location in the world as may be determined by the Board. 

  

	58.	Only a majority of the Board or the Chairman of the Board may call extraordinary general meetings, which extraordinary general meetings shall be held at such times and
locations (as permitted hereby) as such person or persons shall determine. 

 NOTICE OF GENERAL MEETINGS

  

	59.	(1) An annual general meeting may be called by not less than thirty-five (35) days’ Notice and any extraordinary general meeting may be called by not less
than ten (10) clear days’ Notice but a general meeting may be called by shorter notice, subject to the Law, if it is so agreed: 

  

	 	(a)	in the case of a meeting called as an annual general meeting, by all the Members entitled to attend and vote thereat; and 

 

	 	(b)	in the case of any other meeting, by a majority in number of the Members having the right to attend and vote at the meeting, being a majority together holding not less
than ninety-five per cent. (95%) in nominal value of the issued shares giving that right. 

 (2) The notice
shall specify the time and place of the meeting and, in case of special business, the general nature of the business. The notice convening an annual 

 

 20 

 
general meeting shall specify the meeting as such. Notice of every general meeting shall be given to all Members other than to such Members as, under the provisions of these Articles or the terms
of issue of the shares they hold, are not entitled to receive such notices from the Company, to all persons entitled to a share in consequence of the death or bankruptcy or winding-up of a Member and to each of the Directors and the Auditors.

  

	60.	The accidental omission to give Notice of a meeting or (in cases where instruments of proxy are sent out with the Notice) to send such instrument of proxy to, or the
non-receipt of such Notice or such instrument of proxy by, any person entitled to receive such Notice shall not invalidate any resolution passed or the proceedings at that meeting. 

PROCEEDINGS AT GENERAL MEETINGS 
  

	61.	(1) All business shall be deemed special that is transacted at an extraordinary general meeting, and also all business that is transacted at an annual general meeting,
with the exception of: 

  

	 	(a)	the declaration and sanctioning of dividends; 

  

	 	(b)	consideration and adoption of the accounts and balance sheet and the reports of the Directors and Auditors and other documents required to be annexed to the balance
sheet; 

  

	 	(c)	the election of Directors; and 

  

	 	(d)	appointment of Auditors (where special notice of the intention for such appointment is not required by the Law) and other officers. 

(2) No business other than the appointment of a chairman of a meeting shall be transacted at any general meeting unless a quorum is
present at the commencement of the business. At any general meeting of the Company, two (2) Members entitled to vote and present in person or by proxy or (in the case of a Member being a corporation) by its duly authorised representative
representing not less than one-third in nominal value of the total issued voting shares in the Company throughout the meeting shall form a quorum for all purposes. 
  

	62.	If within thirty (30) minutes (or such longer time not exceeding one hour as the chairman of the meeting may determine to wait) after the time appointed for the
meeting a quorum is not present, the meeting shall stand adjourned to the same day in the next week at the same time and place or to such time and place as the Board may determine. If at such adjourned meeting a quorum is not present within half an
hour from the time appointed for holding the meeting, the meeting shall be dissolved. 

  

	63.	 The chairman of the Company shall preside as chairman at every general meeting. If at any meeting the chairman is not present within fifteen
(15) minutes after the time 

  

 21 

	 	 
appointed for holding the meeting, or is not willing to act as chairman, the Directors present shall choose one of their number to act, or if one Director only is present he shall preside as
chairman if willing to act. If no Director is present, or if each of the Directors present declines to take the chair, or if the chairman chosen shall retire from the chair, the Members present in person or by proxy and entitled to vote shall elect
one of their number to be chairman. 

  

	64.	The chairman may adjourn the meeting from time to time and from place to place, but no business shall be transacted at any adjourned meeting other than the business
which might lawfully have been transacted at the meeting had the adjournment not taken place. When a meeting is adjourned for fourteen (14) days or more, at least seven (7) clear days’ notice of the adjourned meeting shall be given
specifying the time and place of the adjourned meeting but it shall not be necessary to specify in such notice the nature of the business to be transacted at the adjourned meeting and the general nature of the business to be transacted. Save as
aforesaid, it shall be unnecessary to give notice of an adjournment. 

  

	65.	If an amendment is proposed to any resolution under consideration but is in good faith ruled out of order by the chairman of the meeting, the proceedings on the
substantive resolution shall not be invalidated by any error in such ruling. In the case of a resolution duly proposed as a special resolution, no amendment thereto (other than a mere clerical amendment to correct a patent error) may in any event be
considered or voted upon. 

 VOTING 

 

	66.	Subject to any special rights or restrictions as to voting for the time being attached to any shares by or in accordance with these Articles, at any general meeting on
a show of hands every Member present in person (or being a corporation, is present by a duly authorised representative), or by proxy shall have one vote and on a poll every Member present in person or by proxy or, in the case of a Member being a
corporation, by its duly authorised representative shall have one vote for every fully paid share of which he is the holder but so that no amount paid up or credited as paid up on a share in advance of calls or instalments is treated for the
foregoing purposes as paid up on the share. Notwithstanding anything contained in these Articles, where more than one proxy is appointed by a Member which is a clearing house or a central depository house (or its nominee(s)), each such proxy shall
have one vote on a show of hands. A resolution put to the vote of a meeting shall be decided on a show of hands unless (before or on the declaration of the result of the show of hands or on the withdrawal of any other demand for a poll) a poll is
demanded by the chairman of such meeting. 

  

	67.	Unless a poll is duly demanded and the demand is not withdrawn, a declaration by the chairman that a resolution has been carried, or carried unanimously, or by a
particular majority, or not carried by a particular majority, or lost, and an entry to that effect made in the minute book of the Company, shall be conclusive evidence of the facts without proof of the number or proportion of the votes recorded for
or against the resolution. 

  

 22 

	68.	If a poll is duly demanded the result of the poll shall be deemed to be the resolution of the meeting at which the poll was demanded. There shall be no requirement for
the chairman to disclose the voting figures on a poll. 

  

	69.	A poll demanded on the election of a chairman, or on a question of adjournment, shall be taken forthwith. A poll demanded on any other question shall be taken in such
manner (including the use of ballot or voting papers or tickets) and either forthwith or at such time (being not later than thirty (30) days after the date of the demand) and place as the chairman directs. It shall not be necessary (unless the
chairman otherwise directs) for notice to be given of a poll not taken immediately. 

  

	70.	The demand for a poll shall not prevent the continuance of a meeting or the transaction of any business other than the question on which the poll has been demanded,
and, with the consent of the chairman, it may be withdrawn at any time before the close of the meeting or the taking of the poll, whichever is the earlier. 

 

	71.	On a poll votes may be given either personally or by proxy. 

  

	72.	A person entitled to more than one vote on a poll need not use all his votes or cast all the votes he uses in the same way. 

 

	73.	All questions submitted to a meeting shall be decided by a simple majority of votes except where a greater majority is required by these Articles or by the Law. In the
case of an equality of votes, whether on a show of hands or on a poll, the chairman of such meeting shall be entitled to a second or casting vote in addition to any other vote he may have. 

 

	74.	Where there are joint holders of any share any one of such joint holder may vote, either in person or by proxy, in respect of such share as if he were solely entitled
thereto, but if more than one of such joint holders be present at any meeting the vote of the senior who tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the votes of the other joint holders, and for this purpose
seniority shall be determined by the order in which the names stand in the Register in respect of the joint holding. Several executors or administrators of a deceased Member in whose name any share stands shall for the purposes of this Article be
deemed joint holders thereof. 

  

	75.	 (1) A Member who is a patient for any purpose relating to mental health or in respect of whom an order has been made by any court having jurisdiction
for the protection or management of the affairs of persons incapable of managing their own affairs may vote, whether on a show of hands or on a poll, by his receiver, committee, curator bonis or other person in the nature of a receiver, committee or
curator bonis appointed by such court, and such receiver, committee, curator bonis or other person may vote on a poll by proxy, and may otherwise act and be treated as if he were the registered holder of such shares for the purposes of general
meetings, provided that 

  

 23 

	 	 
such evidence as the Board may require of the authority of the person claiming to vote shall have been deposited at the Office, head office or Registration Office, as appropriate, not less than
forty-eight (48) hours before the time appointed for holding the meeting, or adjourned meeting or poll, as the case may be. 

(2) Any person entitled under Article 53 to be registered as the holder of any shares may vote at any general meeting in respect thereof
in the same manner as if he were the registered holder of such shares, provided that forty-eight (48) hours at least before the time of the holding of the meeting or adjourned meeting, as the case may be, at which he proposes to vote, he shall
satisfy the Board of his entitlement to such shares, or the Board shall have previously admitted his right to vote at such meeting in respect thereof. 
  

	76.	No Member shall, unless the Board otherwise determines, be entitled to attend and vote and to be reckoned in a quorum at any general meeting unless he is duly
registered and all calls or other sums presently payable by him in respect of shares in the Company have been paid. 

  

	77.	If: 

  

	 	(a)	any objection shall be raised to the qualification of any voter; or 

  

	 	(b)	any votes have been counted which ought not to have been counted or which might have been rejected; or 

 

	 	(c)	any votes are not counted which ought to have been counted; 

the objection or error shall not vitiate the decision of the meeting or adjourned meeting on any resolution unless the same is raised or
pointed out at the meeting or, as the case may be, the adjourned meeting at which the vote objected to is given or tendered or at which the error occurs. Any objection or error shall be referred to the chairman of the meeting and shall only vitiate
the decision of the meeting on any resolution if the chairman decides that the same may have affected the decision of the meeting. The decision of the chairman on such matters shall be final and conclusive. 

PROXIES 
  

	78.	Any Member entitled to attend and vote at a meeting of the Company shall be entitled to appoint another person as his proxy to attend and vote instead of him. A Member
who is the holder of two or more shares may appoint more than one proxy to represent him and vote on his behalf at a general meeting of the Company or at a class meeting. A proxy need not be a Member. In addition, a proxy or proxies representing
either a Member who is an individual or a Member which is a corporation shall be entitled to exercise the same powers on behalf of the Member which he or they represent as such Member could exercise. 

 

 24 

	79.	The instrument appointing a proxy shall be in writing under the hand of the appointor or of his attorney duly authorised in writing or, if the appointor is a
corporation, either under its seal or under the hand of an officer, attorney or other person authorised to sign the same. In the case of an instrument of proxy purporting to be signed on behalf of a corporation by an officer thereof it shall be
assumed, unless the contrary appears, that such officer was duly authorised to sign such instrument of proxy on behalf of the corporation without further evidence of the facts. 

 

 25 

	80.	The instrument appointing a proxy and (if required by the Board) the power of attorney or other authority (if any) under which it is signed, or a certified copy of such
power or authority, shall be delivered to such place or one of such places (if any) as may be specified for that purpose in or by way of note to or in any document accompanying the notice convening the meeting (or, if no place is so specified at the
Registration Office or the Office, as may be appropriate) not less than forty-eight (48) hours before the time appointed for holding the meeting or adjourned meeting at which the person named in the instrument proposes to vote or, in the case
of a poll taken subsequently to the date of a meeting or adjourned meeting, not less than twenty-four (24) hours before the time appointed for the taking of the poll and in default the instrument of proxy shall not be treated as valid. No
instrument appointing a proxy shall be valid after the expiration of twelve (12) months from the date named in it as the date of its execution, except at an adjourned meeting or on a poll demanded at a meeting or an adjourned meeting in cases
where the meeting was originally held within twelve (12) months from such date. Delivery of an instrument appointing a proxy shall not preclude a Member from attending and voting in person at the meeting convened and in such event, the
instrument appointing a proxy shall be deemed to be revoked. 

  

	81.	Instruments of proxy shall be in any common form or in such other form as the Board may approve (provided that this shall not preclude the use of the two-way form) and
the Board may, if it thinks fit, send out with the notice of any meeting forms of instrument of proxy for use at the meeting. The instrument of proxy shall be deemed to confer authority to demand or join in demanding a poll and to vote on any
amendment of a resolution put to the meeting for which it is given as the proxy thinks fit. The instrument of proxy shall, unless the contrary is stated therein, be valid as well for any adjournment of the meeting as for the meeting to which it
relates. 

  

	82.	A vote given in accordance with the terms of an instrument of proxy shall be valid notwithstanding the previous death or insanity of the principal, or revocation of the
instrument of proxy or of the authority under which it was executed, provided that no intimation in writing of such death, insanity or revocation shall have been received by the Company at the Office or the Registration Office (or such other place
as may be specified for the delivery of instruments of proxy in the notice convening the meeting or other document sent therewith) two hours at least before the commencement of the meeting or adjourned meeting, or the taking of the poll, at which
the instrument of proxy is used. 

  

	83.	Anything which under these Articles a Member may do by proxy he may likewise do by his duly appointed attorney and the provisions of these Articles relating to proxies
and instruments appointing proxies shall apply mutatis mutandis in relation to any such attorney and the instrument under which such attorney is appointed. 

  

 26 

 CORPORATIONS ACTING BY REPRESENTATIVES 

 

	84.	(1) Any corporation which is a Member may by resolution of its directors or other governing body authorise such person as it thinks fit to act as its representative at
any meeting of the Company or at any meeting of any class of Members. The person so authorised shall be entitled to exercise the same powers on behalf of such corporation as the corporation could exercise if it were an individual Member and such
corporation shall for the purposes of these Articles be deemed to be present in person at any such meeting if a person so authorised is present thereat. 

(2) If a clearing house (or its nominee(s)) or a central depository entity, being a corporation, is a Member, it may authorise such
persons as it thinks fit to act as its representatives at any meeting of the Company or at any meeting of any class of Members provided that the authorisation shall specify the number and class of shares in respect of which each such representative
is so authorised. Each person so authorised under the provisions of this Article shall be deemed to have been duly authorised without further evidence of the facts and be entitled to exercise the same rights and powers on behalf of the clearing
house or central depository entity (or its nominee(s)) as if such person was the registered holder of the shares of the Company held by the clearing house or a central depository entity (or its nominee(s)) including the right to vote individually on
a show of hands. 
 (3) Any reference in these Articles to a duly authorised representative of a Member being a corporation shall
mean a representative authorised under the provisions of this Article. 
 NO ACTION BY WRITTEN RESOLUTIONS OF MEMBERS 

  

	85.	Any action required or permitted to be taken at any annual or extraordinary general meetings of the Company may be taken only upon the vote of the Members at an annual
or extraordinary general meeting duly noticed and convened in accordance with these Articles and the Law and may not be taken by written resolution of Members without a meeting. 

BOARD OF DIRECTORS 
  

	86.	(1) Unless otherwise determined by the Company in general meeting, the number of Directors shall not be less than two (2) or greater than seven (7). There shall be
no maximum number of Directors unless otherwise determined from time to time by the Members in general meeting. The Directors shall be elected or appointed in the first place by the subscribers to the Memorandum of Association or by a majority of
them and thereafter in accordance with Article 87 and shall hold office until their successors are elected or appointed. 

  

 27 

 (2) Subject to the Articles and the Law, the Company may by ordinary resolution elect any
person to be a Director either to fill a casual vacancy or as an addition to the existing Board. 
 (3) The Directors shall have
the power from time to time and at any time to appoint any person as a Director to fill a casual vacancy on the Board or as an addition to the existing Board. Any Director appointed by the Board to fill a casual vacancy shall, unless designated by
the Board as a Class A Director, a Class B Director or a Class C Director, hold office until the first general meeting of Members after his appointment and be subject to re-election at such meeting, and any Director appointed by the Board as an
addition to the existing Board shall hold office only until the next following annual general meeting of the Company and shall then be eligible for re-election. 

(4) No Director shall be required to hold any shares of the Company by way of qualification and a Director who is not a Member shall be
entitled to receive notice of and to attend and speak at any general meeting of the Company and of all classes of shares of the Company. 

(5) Subject to any provision to the contrary in these Articles, a Director may be removed by way of a special resolution of the Members at
any time before the expiration of his period of office notwithstanding anything in these Articles or in any agreement between the Company and such Director (but without prejudice to any claim for damages under any such agreement). 

(6) A vacancy on the Board created by the removal of a Director under the provisions of subparagraph (5) above may be filled by the
election or appointment of a person nominated by the Directors by ordinary resolution of the Members at the meeting at which such Director is removed or by the affirmative vote of a simple majority of the remaining Directors present and voting at a
Board meeting. 
 (7) The Company may from time to time in general meeting by special resolution increase or reduce the number of
Directors but so that the number of Directors shall never be less than two (2). 
 RETIREMENT OF DIRECTORS 

 

	87.	(1) The Board shall designate the Directors in equal numbers or as close as possible to equal numbers into three different classes, namely Class A Directors, Class
B Directors and Class C Directors provided that any Director appointed by the Board in accordance with Articles 86(2) or 86(3) may be designated by the Board as a Class A Director, a Class B Director or a Class C Director.

 (2) At the first annual general meeting after the adoption of these Articles, all Class A Directors shall
retire from office and be eligible for re-election. At the second annual general meeting after the adoption of these Articles, all Class B Directors shall retire from office and be eligible for re-election. At the third annual general meeting after
the adoption of these Articles, all Class C Directors shall retire from office and be eligible for re-election. 
  

 28 

 (3) At each subsequent annual general meeting after the third annual general meeting after
the adoption of these Articles, the Class A, Class B and Class C Directors shall retire from office according to the same rotation specified in Article 87(2). A retiring Director shall be eligible for re-election. The Directors to retire by
rotation shall include (so far as necessary to ascertain the number of directors to retire by rotation) any Director who wishes to retire and not to offer himself for re-election. Any further Directors so to retire shall be those of the other
Directors subject to retirement by rotation who have been longest in office since their last re-election or appointment and so that as between persons who became or were last re-elected Directors on the same day those to retire shall (unless they
otherwise agree among themselves) be determined by lot. Any Director appointed by the Board pursuant to Articles 86(2) or 86(3) shall not be taken into account in determining which particular Directors or the number of Directors who are to retire by
rotation. 
 (4) Notwithstanding anything herein, the chief executive officer of the Company shall not, whilst holding such
office, be subject to retirement or be taken into account in determining the number of Directors to retire in any year. 
 (5)
For the avoidance of doubt, subject to the provisions of subparagraph (4) above, every Director shall be subject to retirement in accordance with this Article at least once every three years. 

 

	88.	No person other than a Director retiring at the meeting shall, unless recommended by the Directors for election, be eligible for election as a Director at any general
meeting, except that, in the case of an annual general meeting, a person other than a Director retiring at the meeting shall be eligible for election if a Notice signed by a Member (other than the person to be proposed) duly qualified to attend and
vote at such annual general meeting is given of his intention to propose such person for election and also a Notice signed by the person to be proposed of his willingness to be elected shall have been lodged at the head office or at the Registration
Office provided that the minimum length of the period, during which such Notice(s) are given, shall be at least ten (10) days and that the period for lodgment of such Notice(s) shall commence no earlier than the day after the dispatch of the
notice of the general meeting appointed for such election and end no later than ten (10) days prior to the date of such general meeting. 

DISQUALIFICATION OF DIRECTORS 
  

	89.	The office of a Director shall be vacated if the Director: 

(1) resigns his office by notice in writing delivered to the Company at the Office or tendered at a meeting of the Board; 

(2) becomes of unsound mind or dies; 
  

 29 

 (3) without special leave of absence from the Board, is absent from meetings of the Board
for six consecutive months and the Board resolves that his office be vacated; or 
 (4) becomes bankrupt or has a receiving order
made against him or suspends payment or compounds with his creditors; 
 (5) is prohibited by law from being a Director; or

 (6) ceases to be a Director by virtue of any provision of the Statutes or is removed from office pursuant to these Articles.

 EXECUTIVE DIRECTORS 
  

	90.	The Board may from time to time appoint any one or more of its body to be a managing director, joint managing director or deputy managing director or to hold any other
employment or executive office with the Company for such period (subject to their continuance as Directors) and upon such terms as the Board may determine and the Board may revoke or terminate any of such appointments. Any such revocation or
termination as aforesaid shall be without prejudice to any claim for damages that such Director may have against the Company or the Company may have against such Director. A Director appointed to an office under this Article shall be subject to the
same provisions as to removal as the other Directors of the Company, and he shall (subject to the provisions of any contract between him and the Company) ipso facto and immediately cease to hold such office if he shall cease to hold the office of
Director for any cause. 

  

	91.	Notwithstanding Articles 96, 97, 98 and 99, an executive director appointed to an office under Article 90 hereof shall receive such remuneration (whether by way of
salary, commission, participation in profits or otherwise or by all or any of those modes) and such other benefits (including pension and/or gratuity and/or other benefits on retirement) and allowances as the Board may from time to time determine,
and either in addition to or in lieu of his remuneration as a Director. 

  

	92.	[INTENTIONALLY OMITTED] 

  

	93.	[INTENTIONALLY OMITTED] 

  

	94.	[INTENTIONALLY OMITTED] 

  

	95.	[INTENTIONALLY OMITTED] 

DIRECTORS’ FEES AND EXPENSES 
  

	96.	The Directors shall receive such remuneration as the Board may from time to time determine. 

 

 30 

	97.	Each Director shall be entitled to be repaid or prepaid all travelling, hotel and incidental expenses reasonably incurred or expected to be incurred by him in attending
meetings of the Board or committees of the Board or general meetings or separate meetings of any class of shares or of debentures of the Company or otherwise in connection with the discharge of his duties as a Director. 

 

	98.	Any Director who, by request, goes or resides abroad for any purpose of the Company or who performs services which in the opinion of the Board go beyond the ordinary
duties of a Director may be paid such extra remuneration (whether by way of salary, commission, participation in profits or otherwise) as the Board may determine and such extra remuneration shall be in addition to or in substitution for any ordinary
remuneration provided for by or pursuant to any other Article. 

  

	99.	[INTENTIONALLY OMITTED] 

DIRECTORS’ INTERESTS 
  

	100.	A Director may: 

  

	 	(a)	hold any other office or place of profit with the Company (except that of Auditor) in conjunction with his office of Director for such period and upon such terms as the
Board may determine. Any remuneration (whether by way of salary, commission, participation in profits or otherwise) paid to any Director in respect of any such other office or place of profit shall be in addition to any remuneration provided for by
or pursuant to any other Article; 

  

	 	(b)	act by himself or his firm in a professional capacity for the Company (otherwise than as Auditor) and he or his firm may be remunerated for professional services as if
he were not a Director; 

  

	 	(c)	 continue to be or become a director, managing director, joint managing director, deputy managing director, executive director, manager or other officer
or member of any other company promoted by the Company or in which the Company may be interested as a vendor, shareholder or otherwise and (unless otherwise agreed) no such Director shall be accountable for any remuneration, profits or other
benefits received by him as a director, managing director, joint managing director, deputy managing director, executive director, manager or other officer or member of or from his interests in any such other company. Subject as otherwise provided by
these Articles the Directors may exercise or cause to be exercised the voting powers conferred by the shares in any other company held or owned by the Company, or exercisable by them as Directors of such other company in such manner in all respects
as they think fit (including the exercise thereof in favour of any resolution appointing themselves or any of them directors, managing directors, joint managing directors, deputy managing directors, executive directors,

  

 31 

	 	 
managers or other officers of such company) or voting or providing for the payment of remuneration to the director, managing director, joint managing director, deputy managing director, executive
director, manager or other officers of such other company and any Director may vote in favour of the exercise of such voting rights in manner aforesaid notwithstanding that he may be, or about to be, appointed a director, managing director, joint
managing director, deputy managing director, executive director, manager or other officer of such a company, and that as such he is or may become interested in the exercise of such voting rights in manner aforesaid. 

Notwithstanding the foregoing, no “Independent Director” as defined in the rules of the Designated Stock Exchange or in Rule
10A-3 under the Exchange Act, and with respect of whom the Board has determined constitutes an “Independent Director” for purposes of compliance with applicable law or the Company’s listing requirements, shall without the consent of
the Audit Committee take any of the foregoing actions or any other action that would reasonably be likely to affect such Director’s status as an “Independent Director” of the Company. 

 

	101.	Subject to the Law and to these Articles, no Director or proposed or intending Director shall be disqualified by his office from contracting with the Company, either
with regard to his tenure of any office or place of profit or as vendor, purchaser or in any other manner whatever, nor shall any such contract or any other contract or arrangement in which any Director is in any way interested be liable to be
avoided, nor shall any Director so contracting or being so interested be liable to account to the Company or the Members for any remuneration, profit or other benefits realised by any such contract or arrangement by reason of such Director holding
that office or of the fiduciary relationship thereby established provided that such Director shall disclose the nature of his interest in any contract or arrangement in which he is interested in accordance with Article 102 herein. Any such
transaction that would reasonably be likely to affect a Director’s status as an “Independent Director”, or that would constitute a “related party transaction” as defined by Item 7.B of Form 20F promulgated by the SEC,
shall require the approval of the Audit Committee. 

  

	102.	A Director who to his knowledge is in any way, whether directly or indirectly, interested in a contract or arrangement or proposed contract or arrangement with the
Company shall declare the nature of his interest at the meeting of the Board at which the question of entering into the contract or arrangement is first considered, if he knows his interest then exists, or in any other case at the first meeting of
the Board after he knows that he is or has become so interested. For the purposes of this Article, a general Notice to the Board by a Director to the effect that: 

 

	 	(a)	he is a member or officer of a specified company or firm and is to be regarded as interested in any contract or arrangement which may after the date of the Notice be
made with that company or firm; or 

  

 32 

	 	(b)	he is to be regarded as interested in any contract or arrangement which may after the date of the Notice be made with a specified person who is connected with him;

 shall be deemed to be a sufficient declaration of interest under this Article in relation to any such contract
or arrangement, provided that no such Notice shall be effective unless either it is given at a meeting of the Board or the Director takes reasonable steps to secure that it is brought up and read at the next Board meeting after it is given.

  

	103.	Following a declaration being made pursuant to the last preceding two Articles, subject to any separate requirement for Audit Committee approval under applicable law or
the listing rules of the Company’s Designated Stock Exchange, and unless disqualified by the chairman of the relevant Board meeting, a Director may vote in respect of any contract or proposed contract or arrangement in which such Director is
interested and may be counted in the quorum at such meeting. 

 GENERAL POWERS OF THE DIRECTORS 

 

	104.	(1) The business of the Company shall be managed and conducted by the Board, which may pay all expenses incurred in forming and registering the Company and may exercise
all powers of the Company (whether relating to the management of the business of the Company or otherwise) which are not by the Statutes or by these Articles required to be exercised by the Company in general meeting, subject nevertheless to the
provisions of the Statutes and of these Articles and to such regulations being not inconsistent with such provisions, as may be prescribed by the Company in general meeting, but no regulations made by the Company in general meeting shall invalidate
any prior act of the Board which would have been valid if such regulations had not been made. The general powers given by this Article shall not be limited or restricted by any special authority or power given to the Board by any other Article.

 (2) Any person contracting or dealing with the Company in the ordinary course of business shall be entitled to
rely on any written or oral contract or agreement or deed, document or instrument entered into or executed as the case may be by any two of the Directors acting jointly on behalf of the Company and the same shall be deemed to be validly entered into
or executed by the Company as the case may be and shall, subject to any rule of law, be binding on the Company. 
 (3) Without
prejudice to the general powers conferred by these Articles it is hereby expressly declared that the Board shall have the following powers: 
  

	 	(a)	To give to any person the right or option of requiring at a future date that an allotment shall be made to him of any share at par or at such premium as may be agreed.

  

 33 

	 	(b)	To give to any Directors, officers or employees of the Company an interest in any particular business or transaction or participation in the profits thereof or in the
general profits of the Company either in addition to or in substitution for a salary or other remuneration. 

  

	 	(c)	To resolve that the Company be deregistered in the Cayman Islands and continued in a named jurisdiction outside the Cayman Islands subject to the provisions of the Law.

  

	105.	The Board may establish any regional or local boards or agencies for managing any of the affairs of the Company in any place, and may appoint any persons to be members
of such local boards, or any managers or agents, and may fix their remuneration (either by way of salary or by commission or by conferring the right to participation in the profits of the Company or by a combination of two or more of these modes)
and pay the working expenses of any staff employed by them upon the business of the Company. The Board may delegate to any regional or local board, manager or agent any of the powers, authorities and discretions vested in or exercisable by the Board
(other than its powers to make calls and forfeit shares), with power to sub-delegate, and may authorise the members of any of them to fill any vacancies therein and to act notwithstanding vacancies. Any such appointment or delegation may be made
upon such terms and subject to such conditions as the Board may think fit, and the Board may remove any person appointed as aforesaid, and may revoke or vary such delegation, but no person dealing in good faith and without notice of any such
revocation or variation shall be affected thereby. 

  

	106.	The Board may by power of attorney appoint any company, firm or person or any fluctuating body of persons, whether nominated directly or indirectly by the Board, to be
the attorney or attorneys of the Company for such purposes and with such powers, authorities and discretions (not exceeding those vested in or exercisable by the Board under these Articles) and for such period and subject to such conditions as it
may think fit, and any such power of attorney may contain such provisions for the protection and convenience of persons dealing with any such attorney as the Board may think fit, and may also authorise any such attorney to sub-delegate all or any of
the powers, authorities and discretions vested in him. Such attorney or attorneys may, if so authorised under the Seal of the Company, execute any deed or instrument under their personal seal with the same effect as the affixation of the
Company’s Seal. 

  

	107.	The Board may entrust to and confer upon a managing director, joint managing director, deputy managing director, an executive director or any Director any of the powers
exercisable by it upon such terms and conditions and with such restrictions as it thinks fit, and either collaterally with, or to the exclusion of, its own powers, and may from time to time revoke or vary all or any of such powers but no person
dealing in good faith and without notice of such revocation or variation shall be affected thereby. 

  

	108.	 All cheques, promissory notes, drafts, bills of exchange and other instruments, whether negotiable or transferable or not, and all receipts for moneys
paid to the Company shall be signed, drawn, accepted, endorsed or otherwise executed, as the 

  

 34 

	 	 
case may be, in such manner as the Board shall from time to time by resolution determine. The Company’s banking accounts shall be kept with such banker or bankers as the Board shall from
time to time determine. 

  

	109.	(1) The Board may establish or concur or join with other companies (being subsidiary companies of the Company or companies with which it is associated in business) in
establishing and making contributions out of the Company’s moneys to any schemes or funds for providing pensions, sickness or compassionate allowances, life assurance or other benefits for employees (which expression as used in this and the
following paragraph shall include any Director or ex-Director who may hold or have held any executive office or any office of profit under the Company or any of its subsidiary companies) and ex-employees of the Company and their dependants or any
class or classes of such person. 

 (2) The Board may pay, enter into agreements to pay or make grants of revocable
or irrevocable pensions or other benefits to employees and ex-employees and their dependants, or to any of such persons, including pensions or benefits additional to those, if any, to which such employees or ex-employees or their dependants are or
may become entitled under any such scheme or fund as mentioned in the last preceding paragraph. Any such pension or benefit may, as the Board considers desirable, be granted to an employee either before and in anticipation of or upon or at any time
after his actual retirement, and may be subject or not subject to any terms or conditions as the Board may determine. 

BORROWING POWERS 
  

	110.	The Board may exercise all the powers of the Company to raise or borrow money and to mortgage or charge all or any part of the undertaking, property and assets (present
and future) and uncalled capital of the Company and, subject to the Law, to issue debentures, bonds and other securities, whether outright or as collateral security for any debt, liability or obligation of the Company or of any third party.

  

	111.	Debentures, bonds and other securities may be made assignable free from any equities between the Company and the person to whom the same may be issued.

  

	112.	Any debentures, bonds or other securities may be issued at a discount (other than shares), premium or otherwise and with any special privileges as to redemption,
surrender, drawings, allotment of shares, attending and voting at general meetings of the Company, appointment of Directors and otherwise. 

  

	113.	(1) Where any uncalled capital of the Company is charged, all persons taking any subsequent charge thereon shall take the same subject to such prior charge, and shall
not be entitled, by notice to the Members or otherwise, to obtain priority over such prior charge. 

 (2) The Board
shall cause a proper register to be kept, in accordance with the provisions of the Law, of all charges specifically affecting the property of the 

 

 35 

 
Company and of any series of debentures issued by the Company and shall duly comply with the requirements of the Law in regard to the registration of charges and debentures therein specified and
otherwise. 
 PROCEEDINGS OF THE DIRECTORS 

 

	114.	The Board may meet for the despatch of business, adjourn and otherwise regulate its meetings as it considers appropriate. Questions arising at any meeting shall be
determined by a majority of votes. In the case of any equality of votes the chairman of the meeting shall have an additional or casting vote. 

  

	115.	A meeting of the Board may be convened by the Secretary on request of a Director or by any Director. The Secretary shall convene a meeting of the Board of which notice
may be given in writing or by telephone or in such other manner as the Board may from time to time determine whenever he shall be required so to do by the president or chairman, as the case may be, or any Director. 

 

	116.	(1) The quorum necessary for the transaction of the business of the Board may be fixed by the Board and, unless so fixed at any other number, shall be two (2).

 (2) Directors may participate in any meeting of the Board by means of a conference telephone or other
communications equipment through which all persons participating in the meeting can communicate with each other simultaneously and instantaneously and, for the purpose of counting a quorum, such participation shall constitute presence at a meeting
as if those participating were present in person. 
 (3) Any Director who ceases to be a Director at a Board meeting may continue
to be present and to act as a Director and be counted in the quorum until the termination of such Board meeting if no other Director objects and if otherwise a quorum of Directors would not be present. 

 

	117.	The continuing Directors or a sole continuing Director may act notwithstanding any vacancy in the Board but, if and so long as the number of Directors is reduced below
the minimum number fixed by or in accordance with these Articles, the continuing Directors or Director, notwithstanding that the number of Directors is below the number fixed by or in accordance with these Articles as the quorum or that there is
only one continuing Director, may act for the purpose of filling vacancies in the Board or of summoning general meetings of the Company but not for any other purpose. 

 

	118.	The Chairman of the Board shall be the chairman of all meetings of the Board. If the Chairman of the Board is not present at any meeting within fifteen
(15) minutes after the time appointed for holding the same, the Directors present may choose one of their number to be chairman of the meeting. 

 

 36 

	119.	A meeting of the Board at which a quorum is present shall be competent to exercise all the powers, authorities and discretions for the time being vested in or
exercisable by the Board. 

  

	120.	(1) The Board may delegate any of its powers, authorities and discretions to committees (including, without limitation, the Audit Committee), consisting of such
Director or Directors and other persons as it thinks fit, and they may, from time to time, revoke such delegation or revoke the appointment of and discharge any such committees either wholly or in part, and either as to persons or purposes. Any
committee so formed shall, in the exercise of the powers, authorities and discretions so delegated, conform to any regulations which may be imposed on it by the Board. 

(2) All acts done by any such committee in conformity with such regulations, and in fulfilment of the purposes for which it was appointed,
but not otherwise, shall have like force and effect as if done by the Board, and the Board (or if the Board delegates such power, the committee) shall have power to remunerate the members of any such committee, and charge such remuneration to the
current expenses of the Company. 
  

	121.	The meetings and proceedings of any committee consisting of two or more members shall be governed by the provisions contained in these Articles for regulating the
meetings and proceedings of the Board so far as the same are applicable and are not superseded by any regulations imposed by the Board under the last preceding Article, indicating, without limitation, any committee charter adopted by the Board for
purposes or in respect of any such committee. 

  

	122.	A resolution in writing signed by all the Directors except such as are temporarily unable to act through ill-health or disability shall (provided that such number is
sufficient to constitute a quorum and further provided that a copy of such resolution has been given or the contents thereof communicated to all the Directors for the time being entitled to receive notices of Board meetings in the same manner as
notices of meetings are required to be given by these Articles) be as valid and effectual as if a resolution had been passed at a meeting of the Board duly convened and held. Such resolution may be contained in one document or in several documents
in like form each signed by one or more of the Directors and for this purpose a facsimile signature of a Director shall be treated as valid. 

  

	123.	All acts bona fide done by the Board or by any committee or by any person acting as a Director or members of a committee, shall, notwithstanding that it is afterwards
discovered that there was some defect in the appointment of any member of the Board or such committee or person acting as aforesaid or that they or any of them were disqualified or had vacated office, be as valid as if every such person had been
duly appointed and was qualified and had continued to be a Director or member of such committee. 

  

 37 

 COMMITTEES 

 

	124.	Without prejudice to the freedom of the Directors to establish any other committees, for so long as the shares of the Company (or depositary receipts therefor) are
listed or quoted on the Designated Stock Exchange, the Board shall establish and maintain an Audit Committee as a committee of the Board, the composition and responsibilities of which shall comply with the rules of the Designated Stock Exchange and
the rules and regulations of the SEC. 

  

	125.	(1) The Board shall adopt a formal written Audit Committee charter and review and assess the adequacy of the formal written charter on an annual basis.

 (2) The Audit Committee shall meet at least once every financial quarter, or more frequently as circumstances
dictate. 
  

	126.	For so long as the shares of the Company (or depositary receipts therefor) are listed or quoted on the Designated Stock Exchange, the Company shall conduct an
appropriate review of all related party transactions on an ongoing basis and shall utilize the Audit Committee for the review and approval of potential conflicts of interest. Specially, the Audit Committee shall approve any transaction or
transactions between the Company and any f the following parties: (i) any shareholder owning an interest in the voting power of the Company or any subsidiary of the Company that gives such shareholder significant influence over the Company or
any subsidiary of the Company, (ii) any director or executive officer of the Company or any subsidiary of the Company and any relative of such director or executive officer, (iii) any person in which a substantial interest in the voting
power of the Company is owned, directly or indirectly, by any person described in (i) or (ii) or over which such a person is able to exercise significant influence, and (iv) any affiliate (other than a subsidiary) of the Company.

 MANAGERS 
  

	126A.	The Board may from time to time appoint a general manager, a manager or managers of the Company and may fix his or their remuneration either by way of salary or
commission or by conferring the right to participation in the profits of the Company or by a combination of two or more of these modes and pay the working expenses of any of the staff of the general manager, manager or managers who may be employed
by him or them upon the business of the Company. 

  

	126B.	The appointment of such general manager, manager or managers may be for such period as the Board may decide, and the Board may confer upon him or them all or any of the
powers of the Board as they may think fit. 

  

	126C.	The Board may enter into such agreement or agreements with any such general manager, manager or managers upon such terms and conditions in all respects as the Board may
in their absolute discretion think fit, including a power for such general manager, manager or managers to appoint an assistant manager or managers or other employees whatsoever under them for the purpose of carrying on the business of the Company.

  

 38 

 OFFICERS 

 

	127.	(1) The officers of the Company shall consist of the Chairman of the Board, the Directors and Secretary and such additional officers (who may or may not be Directors)
as the Board may from time to time determine, all of whom shall be deemed to be officers for the purposes of the Law and these Articles. 

(2) The Directors shall, as soon as may be after each appointment or election of Directors, elect amongst the Directors a chairman and if
more than one Director is proposed for this office, the election to such office shall take place in such manner as the Directors may determine. 

(3) The officers shall receive such remuneration as the Directors may from time to time determine. 

 

	128.	(1) The Secretary and additional officers, if any, shall be appointed by the Board and shall hold office on such terms and for such period as the Board may determine.
If thought fit, two or more persons may be appointed as joint Secretaries. The Board may also appoint from time to time on such terms as it thinks fit one or more assistant or deputy Secretaries. 

(2) The Secretary shall attend all meetings of the Members and shall keep correct minutes of such meetings and enter the same in the
proper books provided for the purpose. He shall perform such other duties as are prescribed by the Law or these Articles or as may be prescribed by the Board. 
  

	129.	The officers of the Company shall have such powers and perform such duties in the management, business and affairs of the Company as may be delegated to them by the
Directors from time to time. 

  

	130.	A provision of the Law or of these Articles requiring or authorising a thing to be done by or to a Director and the Secretary shall not be satisfied by its being done
by or to the same person acting both as Director and as or in place of the Secretary. 

 REGISTER OF DIRECTORS
AND OFFICERS 
  

	131.	The Company shall cause to be kept in one or more books at its Office a Register of Directors and Officers in which there shall be entered the full names and addresses
of the Directors and Officers and such other particulars as required by the Law or as the Directors may determine. The Company shall send to the Registrar of Companies in the Cayman Islands a copy of such register, and shall from time to time notify
to the said Registrar of any change that takes place in relation to such Directors and Officers as required by the Law. 

  

 39 

 MINUTES 

 

	132.	(1) The Board shall cause minutes to be duly entered in books provided for the purpose: 

 

	 	(a)	of all elections and appointments of officers; 

  

	 	(b)	of the names of the Directors present at each meeting of the Directors and of any committee of the Directors; 

 

	 	(c)	of all resolutions and proceedings of each general meeting of the Members, meetings of the Board and meetings of committees of the Board and where there are managers,
of all proceedings of meetings of the managers. 

  

	 	(2)	Minutes shall be kept by the Secretary at the Office. 

SEAL 
  

	133.	(1) The Company shall have one or more Seals, as the Board may determine. For the purpose of sealing documents creating or evidencing securities issued by the Company,
the Company may have a securities seal which is a facsimile of the Seal of the Company with the addition of the word “Securities” on its face or in such other form as the Board may approve. The Board shall provide for the custody of each
Seal and no Seal shall be used without the authority of the Board or of a committee of the Board authorised by the Board in that behalf. Subject as otherwise provided in these Articles, any instrument to which a Seal is affixed shall be signed
autographically by one Director and the Secretary or by two Directors or by such other person (including a Director) or persons as the Board may appoint, either generally or in any particular case, save that as regards any certificates for shares or
debentures or other securities of the Company the Board may by resolution determine that such signatures or either of them shall be dispensed with or affixed by some method or system of mechanical signature. Every instrument executed in manner
provided by this Article shall be deemed to be sealed and executed with the authority of the Board previously given. 

(2) Where the Company has a Seal for use abroad, the Board may by writing under the Seal appoint any agent or committee abroad to be the
duly authorised agent of the Company for the purpose of affixing and using such Seal and the Board may impose restrictions on the use thereof as may be thought fit. Wherever in these Articles reference is made to the Seal, the reference shall, when
and so far as may be applicable, be deemed to include any such other Seal as aforesaid. 
 AUTHENTICATION OF DOCUMENTS 

  

	134.	 Any Director or the Secretary or any person appointed by the Board for the purpose may authenticate any documents affecting the constitution of the
Company and any resolution passed by the Company or the Board or any committee, and any books, 

  

 40 

	 	 
records, documents and accounts relating to the business of the Company, and to certify copies thereof or extracts therefrom as true copies or extracts, and if any books, records, documents or
accounts are elsewhere than at the Office or the head office the local manager or other officer of the Company having the custody thereof shall be deemed to be a person so appointed by the Board. A document purporting to be a copy of a resolution,
or an extract from the minutes of a meeting, of the Company or of the Board or any committee which is so certified shall be conclusive evidence in favour of all persons dealing with the Company upon the faith thereof that such resolution has been
duly passed or, as the case may be, that such minutes or extract is a true and accurate record of proceedings at a duly constituted meeting. 

DESTRUCTION OF DOCUMENTS 
  

	135.	(1) The Company shall be entitled to destroy the following documents at the following times: 

 

	 	(a)	any share certificate which has been cancelled at any time after the expiry of one (1) year from the date of such cancellation; 

 

	 	(b)	any dividend mandate or any variation or cancellation thereof or any notification of change of name or address at any time after the expiry of two (2) years from
the date such mandate variation cancellation or notification was recorded by the Company; 

  

	 	(c)	any instrument of transfer of shares which has been registered at any time after the expiry of seven (7) years from the date of registration;

  

	 	(d)	any allotment letters after the expiry of seven (7) years from the date of issue thereof; and 

 

	 	(e)	copies of powers of attorney, grants of probate and letters of administration at any time after the expiry of seven (7) years after the account to which the
relevant power of attorney, grant of probate or letters of administration related has been closed; 

 and it shall
conclusively be presumed in favour of the Company that every entry in the Register purporting to be made on the basis of any such documents so destroyed was duly and properly made and every share certificate so destroyed was a valid certificate duly
and properly cancelled and that every instrument of transfer so destroyed was a valid and effective instrument duly and properly registered and that every other document destroyed hereunder was a valid and effective document in accordance with the
recorded particulars thereof in the books or records of the Company. Provided always that: (1) the foregoing provisions of this Article shall apply only to the destruction of a document in good faith and without express notice to the Company
that the preservation of such document was relevant to a claim; (2) nothing contained in this Article shall be construed as imposing 

 

 41 

 
upon the Company any liability in respect of the destruction of any such document earlier than as aforesaid or in any case where the conditions of proviso (1) above are not fulfilled; and
(3) references in this Article to the destruction of any document include references to its disposal in any manner. 
 (2)
Notwithstanding any provision contained in these Articles, the Directors may, if permitted by applicable law, authorise the destruction of documents set out in sub-paragraphs (a) to (e) of paragraph (1) of this Article and any other
documents in relation to share registration which have been microfilmed or electronically stored by the Company or by the share registrar on its behalf provided always that this Article shall apply only to the destruction of a document in good faith
and without express notice to the Company and its share registrar that the preservation of such document was relevant to a claim. 

DIVIDENDS AND OTHER PAYMENTS 
  

	136.	Subject to the Law, the Board may from time to time declare dividends in any currency to be paid to the Members. 

 

	137.	Dividends may be declared and paid out of the profits of the Company, realised or unrealised, or from any reserve set aside from profits which the Directors determine
is no longer needed. The Board may also declare and pay dividends out of share premium account or any other fund or account which can be authorised for this purpose in accordance with the Law. 

 

	138.	Except in so far as the rights attaching to, or the terms of issue of, any share otherwise provide: 

 

	 	(a)	all dividends shall be declared and paid according to the amounts paid up on the shares in respect of which the dividend is paid, but no amount paid up on a share in
advance of calls shall be treated for the purposes of this Article as paid up on the share; and 

  

	 	(b)	all dividends shall be apportioned and paid pro rata according to the amounts paid up on the shares during any portion or portions of the period in respect of which the
dividend is paid. 

  

	139.	 The Board may from time to time pay to the Members such interim dividends as appear to the Board to be justified by the profits of the Company and in
particular (but without prejudice to the generality of the foregoing) if at any time the share capital of the Company is divided into different classes, the Board may pay such interim dividends in respect of those shares in the capital of the
Company which confer on the holders thereof deferred or non-preferential rights as well as in respect of those shares which confer on the holders thereof preferential rights with regard to dividend and provided that the Board acts bona fide the
Board shall not incur any responsibility to the holders of shares conferring any preference for any damage that they may suffer by reason of the payment of an interim dividend on any shares having deferred or

  

 42 

	 	 
non-preferential rights and may also pay any fixed dividend which is payable on any shares of the Company half-yearly or on any other dates, whenever such profits, in the opinion of the Board,
justifies such payment. 

  

	140.	The Board may deduct from any dividend or other moneys payable to a Member by the Company on or in respect of any shares all sums of money (if any) presently payable by
him to the Company on account of calls or otherwise. 

  

	141.	No dividend or other moneys payable by the Company on or in respect of any share shall bear interest against the Company. 

 

	142.	Any dividend, interest or other sum payable in cash to the holder of shares may be paid by cheque or warrant sent through the post addressed to the holder at his
registered address or, in the case of joint holders, addressed to the holder whose name stands first in the Register in respect of the shares at his address as appearing in the Register or addressed to such person and at such address as the holder
or joint holders may in writing direct. Every such cheque or warrant shall, unless the holder or joint holders otherwise direct, be made payable to the order of the holder or, in the case of joint holders, to the order of the holder whose name
stands first on the Register in respect of such shares, and shall be sent at his or their risk and payment of the cheque or warrant by the bank on which it is drawn shall constitute a good discharge to the Company notwithstanding that it may
subsequently appear that the same has been stolen or that any endorsement thereon has been forged. Any one of two or more joint holders may give effectual receipts for any dividends or other moneys payable or property distributable in respect of the
shares held by such joint holders. 

  

	143.	All dividends or bonuses unclaimed for one (1) year after having been declared may be invested or otherwise made use of by the Board for the benefit of the Company
until claimed. Any dividend or bonuses unclaimed after a period of six (6) years from the date of declaration shall be forfeited and shall revert to the Company. The payment by the Board of any unclaimed dividend or other sums payable on or in
respect of a share into a separate account shall not constitute the Company a trustee in respect thereof. 

  

	144.	 Whenever the Board or the Company in general meeting has resolved that a dividend be paid or declared, the Board may further resolve that such dividend
be satisfied wholly or in part by the distribution of specific assets of any kind and in particular of paid up shares, debentures or warrants to subscribe securities of the Company or any other company, or in any one or more of such ways, and where
any difficulty arises in regard to the distribution the Board may settle the same as it thinks expedient, and in particular may issue certificates in respect of fractions of shares, disregard fractional entitlements or round the same up or down, and
may fix the value for distribution of such specific assets, or any part thereof, and may determine that cash payments shall be made to any Members upon the footing of the value so fixed in order to adjust the rights of all parties, and may vest any
such specific assets in trustees as may seem expedient to the Board and may appoint any person to sign any requisite instruments of transfer and other documents on behalf of the persons entitled to the dividend, and such appointment shall be
effective and binding on the Members. The Board may 

  

 43 

	 	 
resolve that no such assets shall be made available to Members with registered addresses in any particular territory or territories where, in the absence of a registration statement or other
special formalities, such distribution of assets would or might, in the opinion of the Board, be unlawful or impracticable and in such event the only entitlement of the Members aforesaid shall be to receive cash payments as aforesaid. Members
affected as a result of the foregoing sentence shall not be or be deemed to be a separate class of Members for any purpose whatsoever. 

  

	145.	(1) Whenever the Board or the Company in general meeting has resolved that a dividend be paid or declared on any class of the share capital of the Company, the Board
may further resolve either: 

  

	 	(a)	that such dividend be satisfied wholly or in part in the form of an allotment of shares credited as fully paid up, provided that the Members entitled thereto will be
entitled to elect to receive such dividend (or part thereof if the Board so determines) in cash in lieu of such allotment. In such case, the following provisions shall apply: 

 

	 	(i)	the basis of any such allotment shall be determined by the Board; 

  

	 	(ii)	the Board, after determining the basis of allotment, shall give not less than ten (10) days’ Notice to the holders of the relevant shares of the right of
election accorded to them and shall send with such notice forms of election and specify the procedure to be followed and the place at which and the latest date and time by which duly completed forms of election must be lodged in order to be
effective; 

  

	 	(iii)	the right of election may be exercised in respect of the whole or part of that portion of the dividend in respect of which the right of election has been accorded; and

  

	 	(iv)	the dividend (or that part of the dividend to be satisfied by the allotment of shares as aforesaid) shall not be payable in cash on shares in respect whereof the cash
election has not been duly exercised (“the non-elected shares”) and in satisfaction thereof shares of the relevant class shall be allotted credited as fully paid up to the holders of the non-elected shares on the basis of allotment
determined as aforesaid and for such purpose the Board shall capitalise and apply out of any part of the undivided profits of the Company (including profits carried and standing to the credit of any reserves or other special account, share premium
account, capital redemption reserve other than the Subscription Rights Reserve) as the Board may determine, such sum as may be required to pay up in full the appropriate number of shares of the relevant class for allotment and distribution to and
amongst the holders of the non-elected shares on such basis; or 

  

 44 

	 	(b)	that the Members entitled to such dividend shall be entitled to elect to receive an allotment of shares credited as fully paid up in lieu of the whole or such part of
the dividend as the Board may think fit. In such case, the following provisions shall apply: 

  

	 	(i)	the basis of any such allotment shall be determined by the Board; 

  

	 	(ii)	the Board, after determining the basis of allotment, shall give not less than ten (10) days’ Notice to the holders of the relevant shares of the right of
election accorded to them and shall send with such notice forms of election and specify the procedure to be followed and the place at which and the latest date and time by which duly completed forms of election must be lodged in order to be
effective; 

  

	 	(iii)	the right of election may be exercised in respect of the whole or part of that portion of the dividend in respect of which the right of election has been accorded; and

  

	 	(iv)	the dividend (or that part of the dividend in respect of which a right of election has been accorded) shall not be payable in cash on shares in respect whereof the
share election has been duly exercised (“the elected shares”) and in lieu thereof shares of the relevant class shall be allotted credited as fully paid up to the holders of the elected shares on the basis of allotment determined as
aforesaid and for such purpose the Board shall capitalise and apply out of any part of the undivided profits of the Company (including profits carried and standing to the credit of any reserves or other special account, share premium account,
capital redemption reserve other than the Subscription Rights Reserve) as the Board may determine, such sum as may be required to pay up in full the appropriate number of shares of the relevant class for allotment and distribution to and amongst the
holders of the elected shares on such basis. 

  

	 	(2)    (a)	The shares allotted pursuant to the provisions of paragraph (1) of this Article shall rank pari passu in all respects with shares of the same class (if any) then
in issue save only as regards participation in the relevant dividend or in any other distributions, bonuses or rights paid, made, declared or announced prior to or contemporaneously with the payment or declaration of the relevant dividend unless,
contemporaneously with the announcement by the Board of their proposal to apply the provisions of sub-paragraph (a) or (b) of paragraph (2) of this Article in relation to the relevant dividend or contemporaneously with their
announcement of the distribution, bonus or rights in question, the Board shall specify that the shares to be allotted pursuant to the provisions of paragraph (1) of this Article shall rank for participation in such distribution, bonus or
rights. 

  

	 	(b)	 The Board may do all acts and things considered necessary or expedient to give effect to any capitalisation pursuant to the provisions of paragraph
(1) of this Article, with full power to the Board to make 

  

 45 

	 	 
such provisions as it thinks fit in the case of shares becoming distributable in fractions (including provisions whereby, in whole or in part, fractional entitlements are aggregated and sold and
the net proceeds distributed to those entitled, or are disregarded or rounded up or down or whereby the benefit of fractional entitlements accrues to the Company rather than to the Members concerned). The Board may authorise any person to enter into
on behalf of all Members interested, an agreement with the Company providing for such capitalisation and matters incidental thereto and any agreement made pursuant to such authority shall be effective and binding on all concerned.

 (3) The Company may upon the recommendation of the Board by ordinary resolution resolve in respect of any
one particular dividend of the Company that notwithstanding the provisions of paragraph (1) of this Article a dividend may be satisfied wholly in the form of an allotment of shares credited as fully paid up without offering any right to
shareholders to elect to receive such dividend in cash in lieu of such allotment. 
 (4) The Board may on any occasion determine
that rights of election and the allotment of shares under paragraph (1) of this Article shall not be made available or made to any shareholders with registered addresses in any territory where, in the absence of a registration statement or
other special formalities, the circulation of an offer of such rights of election or the allotment of shares would or might, in the opinion of the Board, be unlawful or impracticable, and in such event the provisions aforesaid shall be read and
construed subject to such determination. Members affected as a result of the foregoing sentence shall not be or be deemed to be a separate class of Members for any purpose whatsoever. 

(5) Any resolution declaring a dividend on shares of any class, whether a resolution of the Company in general meeting or a resolution of
the Board, may specify that the same shall be payable or distributable to the persons registered as the holders of such shares at the close of business on a particular date, notwithstanding that it may be a date prior to that on which the resolution
is passed, and thereupon the dividend shall be payable or distributable to them in accordance with their respective holdings so registered, but without prejudice to the rights inter se in respect of such dividend of transferors and transferees of
any such shares. The provisions of this Article shall mutatis mutandis apply to bonuses, capitalisation issues, distributions of realised capital profits or offers or grants made by the Company to the Members. 

RESERVES 
  

	146.	(1) The Board shall establish an account to be called the share premium account and shall carry to the credit of such account from time to time a sum equal to the
amount or value of the premium paid on the issue of any share in the Company. Unless otherwise provided by the provisions of these Articles, the Board may apply the share premium account in any manner permitted by the Law. The Company shall at all
times comply with the provisions of the Law in relation to the share premium account. 

  

 46 

 (2) Before recommending any dividend, the Board may set aside out of the profits of the
Company such sums as it determines as reserves which shall, at the discretion of the Board, be applicable for any purpose to which the profits of the Company may be properly applied and pending such application may, also at such discretion, either
be employed in the business of the Company or be invested in such investments as the Board may from time to time think fit and so that it shall not be necessary to keep any investments constituting the reserve or reserves separate or distinct from
any other investments of the Company. The Board may also without placing the same to reserve carry forward any profits which it may think prudent not to distribute. 

CAPITALISATION 
  

	147.	The Company may, upon the recommendation of the Board, at any time and from time to time pass an ordinary resolution to the effect that it is desirable to capitalise
all or any part of any amount for the time being standing to the credit of any reserve or fund (including a share premium account and capital redemption reserve and the profit and loss account) whether or not the same is available for distribution
and accordingly that such amount be set free for distribution among the Members or any class of Members who would be entitled thereto if it were distributed by way of dividend and in the same proportions, on the footing that the same is not paid in
cash but is applied either in or towards paying up the amounts for the time being unpaid on any shares in the Company held by such Members respectively or in paying up in full unissued shares, debentures or other obligations of the Company, to be
allotted and distributed credited as fully paid up among such Members, or partly in one way and partly in the other, and the Board shall give effect to such resolution provided that, for the purposes of this Article, a share premium account and any
capital redemption reserve or fund representing unrealised profits, may be applied only in paying up in full unissued shares of the Company to be allotted to such Members credited as fully paid. 

 

	148.	The Board may settle, as it considers appropriate, any difficulty arising in regard to any distribution under the last preceding Article and in particular may issue
certificates in respect of fractions of shares or authorise any person to sell and transfer any fractions or may resolve that the distribution should be as nearly as may be practicable in the correct proportion but not exactly so or may ignore
fractions altogether, and may determine that cash payments shall be made to any Members in order to adjust the rights of all parties, as may seem expedient to the Board. The Board may appoint any person to sign on behalf of the persons entitled to
participate in the distribution any contract necessary or desirable for giving effect thereto and such appointment shall be effective and binding upon the Members. 

 

 47 

 SUBSCRIPTION RIGHTS RESERVE 

 

	149.	The following provisions shall have effect to the extent that they are not prohibited by and are in compliance with the Law: 

 

	 	(1)	If, so long as any of the rights attached to any warrants issued by the Company to subscribe for shares of the Company shall remain exercisable, the Company does any
act or engages in any transaction which, as a result of any adjustments to the subscription price in accordance with the provisions of the conditions of the warrants, would reduce the subscription price to below the par value of a share, then the
following provisions shall apply: 

  

	 	(a)	as from the date of such act or transaction the Company shall establish and thereafter (subject as provided in this Article) maintain in accordance with the provisions
of this Article a reserve (the “Subscription Rights Reserve”) the amount of which shall at no time be less than the sum which for the time being would be required to be capitalised and applied in paying up in full the nominal amount of the
additional shares required to be issued and allotted credited as fully paid pursuant to sub-paragraph (c) below on the exercise in full of all the subscription rights outstanding and shall apply the Subscription Rights Reserve in paying up such
additional shares in full as and when the same are allotted; 

  

	 	(b)	the Subscription Rights Reserve shall not be used for any purpose other than that specified above unless all other reserves of the Company (other than share premium
account) have been extinguished and will then only be used to make good losses of the Company if and so far as is required by law; 

  

	 	(c)	upon the exercise of all or any of the subscription rights represented by any warrant, the relevant subscription rights shall be exercisable in respect of a nominal
amount of shares equal to the amount in cash which the holder of such warrant is required to pay on exercise of the subscription rights represented thereby (or, as the case may be the relevant portion thereof in the event of a partial exercise of
the subscription rights) and, in addition, there shall be allotted in respect of such subscription rights to the exercising warrantholder, credited as fully paid, such additional nominal amount of shares as is equal to the difference between:

  

	 	(i)	the said amount in cash which the holder of such warrant is required to pay on exercise of the subscription rights represented thereby (or, as the case may be, the
relevant portion thereof in the event of a partial exercise of the subscription rights); and 

  

	 	(ii)	 the nominal amount of shares in respect of which such subscription rights would have been exercisable having regard to the provisions of the conditions
of the warrants, had it been possible for such subscription rights to represent the right to subscribe for shares at less than par and immediately upon such exercise so much of the sum standing to the credit of the Subscription Rights Reserve as is
required 

  

 48 

	 	 
to pay up in full such additional nominal amount of shares shall be capitalised and applied in paying up in full such additional nominal amount of shares which shall forthwith be allotted
credited as fully paid to the exercising warrantholders; and 

  

	 	(d)	if, upon the exercise of the subscription rights represented by any warrant, the amount standing to the credit of the Subscription Rights Reserve is not sufficient to
pay up in full such additional nominal amount of shares equal to such difference as aforesaid to which the exercising warrantholder is entitled, the Board shall apply any profits or reserves then or thereafter becoming available (including, to the
extent permitted by law, share premium account) for such purpose until such additional nominal amount of shares is paid up and allotted as aforesaid and until then no dividend or other distribution shall be paid or made on the fully paid shares of
the Company then in issue. Pending such payment and allotment, the exercising warrantholder shall be issued by the Company with a certificate evidencing his right to the allotment of such additional nominal amount of shares. The rights represented
by any such certificate shall be in registered form and shall be transferable in whole or in part in units of one share in the like manner as the shares for the time being are transferable, and the Company shall make such arrangements in relation to
the maintenance of a register therefor and other matters in relation thereto as the Board may think fit and adequate particulars thereof shall be made known to each relevant exercising warrantholder upon the issue of such certificate.

 (2) Shares allotted pursuant to the provisions of this Article shall rank pari passu in all respects with the
other shares allotted on the relevant exercise of the subscription rights represented by the warrant concerned. Notwithstanding anything contained in paragraph (1) of this Article, no fraction of any share shall be allotted on exercise of the
subscription rights. 
 (3) The provision of this Article as to the establishment and maintenance of the Subscription Rights
Reserve shall not be altered or added to in any way which would vary or abrogate, or which would have the effect of varying or abrogating the provisions for the benefit of any warrantholder or class of warrantholders under this Article without the
sanction of a special resolution of such warrantholders or class of warrantholders. 
 (4) A certificate or report by the
auditors for the time being of the Company as to whether or not the Subscription Rights Reserve is required to be established and maintained and if so the amount thereof so required to be established and maintained, as to the purposes for which the
Subscription Rights Reserve has been used, as to the extent to which it has been used to make good losses of the Company, as to the additional nominal amount of shares required to be allotted to exercising warrantholders credited as fully paid, and
as to any other matter concerning the Subscription Rights Reserve shall (in the absence of manifest error) be conclusive and binding upon the Company and all warrantholders and shareholders. 

 

 49 

 ACCOUNTING RECORDS 

 

	150.	The Board shall cause true accounts to be kept of the sums of money received and expended by the Company, and the matters in respect of which such receipt and
expenditure take place, and of the property, assets, credits and liabilities of the Company and of all other matters required by the Law or necessary to give a true and fair view of the Company’s affairs and to explain its transactions.

  

	151.	The accounting records shall be kept at the Office or, at such other place or places as the Board decides and shall always be open to inspection by the Directors. No
Member (other than a Director) shall have any right of inspecting any accounting record or book or document of the Company except as conferred by law or authorised by the Board or the Company in general meeting. 

 

	152.	[INTENTIONALLY OMITTED] 

  

	153.	[INTENTIONALLY OMITTED] 

  

	154.	[INTENTIONALLY OMITTED] 

AUDIT 
  

	155.	Subject to applicable law and rules of the Designated Stock Exchange, the Directors shall appoint an auditor to audit the accounts of the Company and such auditor shall
hold office until the Directors appoint another auditor. Such auditor may be a Member but no Director or officer or employee of the Company shall, during his continuance in office, be eligible to act as an auditor of the Company.

  

 50 

	156.	Subject to the Law the accounts of the Company shall be audited at least once in every year. 

 

	157.	The remuneration of the Auditor shall be fixed by the Board. 

  

	158.	If the office of auditor becomes vacant by the resignation or death of the Auditor, or by his becoming incapable of acting by reason of illness or other disability at a
time when his services are required, the Directors shall fill the vacancy and determine the remuneration of such Auditor. 

  

	159.	The Auditor shall at all reasonable times have access to all books kept by the Company and to all accounts and vouchers relating thereto; and he may call on the
Directors or officers of the Company for any information in their possession relating to the books or affairs of the Company. 

  

	160.	The statement of income and expenditure and the balance sheet provided for by these Articles shall be examined by the Auditor and compared by him with the books,
accounts and vouchers relating thereto; and he shall make a written report thereon stating whether such statement and balance sheet are drawn up so as to present fairly the financial position of the Company and the results of its operations for the
period under review and, in case information shall have been called for from Directors or officers of the Company, whether the same has been furnished and has been satisfactory. The financial statements of the Company shall be audited by the Auditor
in accordance with generally accepted auditing standards. The Auditor shall make a written report thereon in accordance with generally accepted auditing standards and the report of the Auditor shall be submitted to the Members in general meeting.
The generally accepted auditing standards referred to herein may be those of a country or jurisdiction other than the Cayman Islands. If so, the financial statements and the report of the Auditor should disclose this act and name such country or
jurisdiction. 

 NOTICES 
  

	161.	 Any Notice or document, whether or not, to be given or issued under these Articles from the Company to a Member shall be in writing or by cable, telex
or facsimile transmission message or other form of electronic transmission or communication and any such Notice and document may be served or delivered by the Company on or to any Member either personally or by sending it through the post in a
prepaid envelope addressed to such Member at his registered address as appearing in the Register or at any other address supplied by him to the Company for the purpose or, as the case may be, by transmitting it to any such address or transmitting it
to any telex or facsimile transmission number or electronic number or address or website supplied by him to the Company for the giving of Notice to him or which the person transmitting the notice reasonably and bona fide believes at the relevant
time will result in the Notice being duly received by the Member or 

  

 51 

	 	 
may also be served by advertisement in appropriate newspapers in accordance with the requirements of the Designated Stock Exchange or, to the extent permitted by the applicable laws, by placing
it on the Company’s website and giving to the member a notice stating that the notice or other document is available there (a “notice of availability”). The notice of availability may be given to the Member by any of the means set out
above. In the case of joint holders of a share all notices shall be given to that one of the joint holders whose name stands first in the Register and notice so given shall be deemed a sufficient service on or delivery to all the joint holders.

  

	162.	Any Notice or other document: 

  

	 	(a)	if served or delivered by post, shall where appropriate be sent by airmail and shall be deemed to have been served or delivered on the day following that on which the
envelope containing the same, properly prepaid and addressed, is put into the post; in proving such service or delivery it shall be sufficient to prove that the envelope or wrapper containing the notice or document was properly addressed and put
into the post and a certificate in writing signed by the Secretary or other officer of the Company or other person appointed by the Board that the envelope or wrapper containing the notice or other document was so addressed and put into the post
shall be conclusive evidence thereof; 

  

	 	(b)	if sent by electronic communication, shall be deemed to be given on the day on which it is transmitted from the server of the Company or its agent. A notice placed on
the Company’s website is deemed given by the Company to a Member on the day following that on which a notice of availability is deemed served on the Member; 

 

	 	(c)	if served or delivered in any other manner contemplated by these Articles, shall be deemed to have been served or delivered at the time of personal service or delivery
or, as the case may be, at the time of the relevant despatch or transmission; and in proving such service or delivery a certificate in writing signed by the Secretary or other officer of the Company or other person appointed by the Board as to the
act and time of such service, delivery, despatch or transmission shall be conclusive evidence thereof; and 

  

	 	(d)	may be given to a Member in the English language or such other language as may be approved by the Directors, subject to due compliance with all applicable Statutes,
rules and regulations. 

  

	163.	 (1) Any Notice or other document delivered or sent by post to or left at the registered address of any Member in pursuance of these Articles shall,
notwithstanding that such Member is then dead or bankrupt or that any other event has occurred, and whether or not the Company has notice of the death or 

 

 52 

	 	 
bankruptcy or other event, be deemed to have been duly served or delivered in respect of any share registered in the name of such Member as sole or joint holder unless his name shall, at the time
of the service or delivery of the notice or document, have been removed from the Register as the holder of the share, and such service or delivery shall for all purposes be deemed a sufficient service or delivery of such Notice or document on all
persons interested (whether jointly with or as claiming through or under him) in the share. 

 (2) A notice may
be given by the Company to the person entitled to a share in consequence of the death, mental disorder or bankruptcy of a Member by sending it through the post in a prepaid letter, envelope or wrapper addressed to him by name, or by the title of
representative of the deceased, or trustee of the bankrupt, or by any like description, at the address, if any, supplied for the purpose by the person claiming to be so entitled, or (until such an address has been so supplied) by giving the notice
in any manner in which the same might have been given if the death, mental disorder or bankruptcy had not occurred. 
 (3) Any
person who by operation of law, transfer or other means whatsoever shall become entitled to any share shall be bound by every notice in respect of such share which prior to his name and address being entered on the Register shall have been duly
given to the person from whom he derives his title to such share. 
 SIGNATURES 

 

	164.	For the purposes of these Articles, a cable or telex or facsimile or electronic transmission message purporting to come from a holder of shares or, as the case may be,
a Director, or, in the case of a corporation which is a holder of shares from a director or the secretary thereof or a duly appointed attorney or duly authorised representative thereof for it and on its behalf, shall in the absence of express
evidence to the contrary available to the person relying thereon at the relevant time be deemed to be a document or instrument in writing signed by such holder or Director in the terms in which it is received. 

WINDING UP 
  

	165.	(1) The Board shall have power in the name and on behalf of the Company to present a petition to the court for the Company to be wound up. 

(2) A resolution that the Company be wound up by the court or be wound up voluntarily shall be a special resolution. 

 

	166.	 (1) Subject to any special rights, privileges or restrictions as to the distribution of available surplus assets on liquidation for the time being
attached to any class or classes of shares (i) if the Company shall be wound up and the assets available 

 

 53 

	 	 
for distribution amongst the Members of the Company shall be more than sufficient to repay the whole of the capital paid up at the commencement of the winding up, the excess shall be distributed
pari passu amongst such members in proportion to the amount paid up on the shares held by them respectively and (ii) if the Company shall be wound up and the assets available for distribution amongst the Members as such shall be insufficient to
repay the whole of the paid-up capital such assets shall be distributed so that, a nearly as may be, the losses shall be borne by the Members in proportion to the capital paid up, or which ought to have been paid up, at the commencement of the
winding up on the shares held by them respectively. 

 (2) If the Company shall be wound up (whether the
liquidation is voluntary or by the court) the liquidator may, with the authority of a special resolution and any other sanction required by the Law, divide among the Members in specie or kind the whole or any part of the assets of the Company and
whether or not the assets shall consist of properties of one kind or shall consist of properties to be divided as aforesaid of different kinds, and may for such purpose set such value as he deems fair upon any one or more class or classes of
property and may determine how such division shall be carried out as between the Members or different classes of Members. The liquidator may, with the like authority, vest any part of the assets in trustees upon such trusts for the benefit of the
Members as the liquidator with the like authority shall think fit, and the liquidation of the Company may be closed and the Company dissolved, but so that no contributory shall be compelled to accept any shares or other property in respect of which
there is a liability. 
 INDEMNITY 
  

	167.	(1) The Directors, Secretary and other officers and the liquidator or trustees (if any) for the time being acting in relation to any of the affairs of the Company and
everyone of them, and everyone of their heirs, executors and administrators, shall be indemnified and secured harmless out of the assets and profits of the Company from and against all actions, costs, charges, losses, damages and expenses which they
or any of them, their or any of their heirs, executors or administrators, shall or may incur or sustain by or by reason of any act done, concurred in or omitted in or about the execution of their duty, or supposed duty, in their respective offices
or trusts; and none of them shall be answerable for the acts, receipts, neglects or defaults of the other or others of them or for joining in any receipts for the sake of conformity, or for any bankers or other persons with whom any moneys or
effects belonging to the Company shall or may be lodged or deposited for safe custody, or for insufficiency or deficiency of any security upon which any moneys of or belonging to the Company shall be placed out on or invested, or for any other loss,
misfortune or damage which may happen in the execution of their respective offices or trusts, or in relation thereto; PROVIDED THAT this indemnity shall not extend to any matter in respect of any fraud or dishonesty which may attach to any of said
persons. 

  

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 (2) Each Member agrees to waive any claim or right of action he might have, whether
individually or by or in the right of the Company, against any Director on account of any action taken by such Director, or the failure of such Director to take any action in the performance of his duties with or for the Company; PROVIDED THAT such
waiver shall not extend to any matter in respect of any fraud or dishonesty which may attach to such Director. 
 AMENDMENT TO
MEMORANDUM AND ARTICLES OF ASSOCIATION AND NAME OF COMPANY 
  

	168.	No Article shall be rescinded, altered or amended and no new Article shall be made until the same has been approved by a special resolution of the Members. A special
resolution shall be required to alter the provisions of the Memorandum of Association or to change the name of the Company. 

INFORMATION 
  

	169.	No Member shall be entitled to require discovery of or any information respecting any detail of the Company’s trading or any matter which is or may be in the
nature of a trade secret or secret process which may relate to the conduct of the business of the Company and which in the opinion of the Directors it will be inexpedient in the interests of the members of the Company to communicate to the public.

  

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