Document:

Exhibit 10.37

 

AMRS Draft

 

12.30.18

 

THIS Assignment AGREEMENT is made on December 31st, 2018
(the "Agreement").

 

BETWEEN:

 

		(1)	Amyris, Inc., a company incorporated in Delaware, whose registered office is at 5885 Hollis Street,
Suite 100, Emeryville, CA 94608 (the "Assignor'); and

 

		(2)	Hangzhou Xinfu Science & Tech Co. Ltd, a company incorporated in China, whose registered office
is at No. 9, Shanggua Fan, Jinnan Street, Lin'an City, Zhejiang Province, China (the "Assignee").

 

WHEREBY IT IS AGREED as follows:

 

1.       DEFINITIONS AND INTERPRETATION

 

1.1       In this Agreement:

 

	
        "Transfer Right"

         
	
        means the right to receive value share payments as provided under
        the Value Sharing Agreement;

         

	
        "Assignee's Account"

         
	
        means an account to be designated by the Assignee and notified in
        writing by the Assignee to the Assignor no later than [10] calendar days prior to any anniversary of the Effective Date, in accordance
        with Clause 2.4;

         

	"Assignor's Account"	means an account to be designated by the Assignor and notified in writing by the Assignor to the Assignee no later than [10] calendar days prior to the Specified Date;

 

     

     

    

 

	
        "Consideration Amount"

         
	shall have the meaning given in Clause 2.1;
	
        "DSM"

         
	means DSM Nutritional Products AG;
	
        "Effective Date"

         
	
        Shall mean the date this Agreement is executed by and delivered
        between, the Assignor and the Assignee

         

	
        "Third Party Consents"

         
	
        means all consents, authorisations or waivers required from, or
        all notices required to be delivered to, any third party for receipt of the Transfer Right;

         

	
        “Term

         
	
        means for nine (9) years from the Effective Date or the term of
        the Value Sharing Agreement, whichever is longer.

         

	
        "US$" or "U.S. Dollar"

         
	
        denotes the lawful currency for the time being of the United States
        of America;

         

	
        "Value Sharing Proceeds"

         
	
        means the aggregate amount paid by the Assignor to the Assignee
        pursuant to Clauses 2.4 and 1; and

         

	
        "Value Sharing Agreement"

         
	means the agreement dated December 28, 2017, between DSM and Amyris, as amended by that certain Amendment No.1, dated March 31, 2018, Amendment No. 2, dated June 29,2018, Amendment No.3, dated June 29, 2018, and Amendment No.4, dated November 19, 2018.

 

1.2       In this Agreement,
unless otherwise specified:

 

 

     

     

    

 

		(A)	any reference to a "Party" means a party to this Agreement;

 

		(B)	references to Clauses, sub-Clauses and Schedules are to clauses, sub-clauses and schedules of this
Agreement; and

 

		(C)	a reference to any statute or statutory provision shall be construed as a reference to the same
as it may have been, or may from time to time be, amended, modified or re-enacted.

 

		1.3	All headings and titles are inserted for convenience only. They are to be ignored in the interpretation
of this Agreement.

 

		2.	PAYMENTS OF CONSIDERATION AMOUNT AND VALUE SHARING AMOUNTS

 

		2.1	On a date following the Effective Date to be mutually agreed between the Parties, or March 15,2019,
whichever is later (the "Specified Date"), the Assignee shall pay to the Assignor a sum of US$50,000,000 (in U.S. Dollars
for same day value, in immediately available funds and inclusive of any taxes) (the "Consideration Amount") by way of
wire transfer to the Assignor's Account, in consideration for the transfer of the right to Assignee as specified under Clause 3,
as conditioned by Clause 2.2 (unless satisfaction of any such conditions are waived in writing by the Assignee, as applicable.
and upon its sale discretion ).

 

		2.2	Any payments to be made by the Assignee shall be conditioned upon prior satisfaction of (a) any
applicable compliance or corporate governance standard applicable to Assignee, and (b) any applicable regulatory or other governmental
approval, recognition. consent, review or clearance process, submission, filing or other authorisation for the transaction, or
for any payment due, under this Agreement, including but not limited to certain bodies of the government of the People's Republic
of China (the "PRC") such as the National Development and Reform Commission, the Ministry of Commerce and the State Administration
of Foreign Exchange.

 

     

     

    

 

		2.3	Any receipt of the payments by the Assignor shall be conditioned upon prior satisfaction of (a)
any applicable compliance or corporate governance standard applicable to Assignor, and (b) any applicable regulatory or other governmental
approval, recognition, consent, review or clearance process, submission, filing or other authorisation for the transaction.

 

		2.4	The Assignee hereby acknowledges and agrees that the Assignee shall have no recourse against the
Assignor, and no part of the Consideration Amount shall be refundable by the Assignor, in any event, including without limitation
where the Value Sharing Proceeds do not exceed US$50,000,000.

 

		2.5	For the duration of the Term, on each anniversary of the Effective Date during such Term, the Assignor
shall transfer, or procure DSM to transfer, the US$10,000,000 of value share payments before December 31" in each applicable
year to the Assignee's Account. Any value share payment in excess of US$10,000.000 annual amount shall be apportioned [45]%/[55]%
between the Assignor and the Assignee for the duration of the Term.

 

		2.6	The Assignor may, by notice in writing to the Assignee, terminate this Agreement in the event that
it does not receive the Consideration Amount in accordance with Clause 2.1, provided that the conditions agreed by Parties
are satisfied.

 

		3.	TRANSFER RIGHT

 

		3.1	Subject to Clause Errorl Reference source not found. and the receipt by the Assignor of
the Consideration Amount in accordance with Clause 2.1, the Assignor hereby transfers the Transfer Right to the Assignee
with effect from the Effective Date.

 

		3.2	The Assignor shall, where a Third Party Consent is required to transfer the Transfer Right \ obtain
such Third Party Consent. Upon such Third Party Consent being obtained, this

 

     

     

    

 

Agreement shall constitute a transfer of the Transfer
Right to which such Third Party Consent relates.

 

		4.	TRANSFER OF PROCEEDS

 

The Assignor shall, or procure DSM to, pay to the Assignee
(a) the value sharing amount of US$10,000,000 for each year of the Term, and (b) 55% of any Value Sharing Proceeds exceeding US$10,000,000
of each such year of the Term.

 

		5.	MISCELLANEOUS

 

		5.1	Each Party shall at its own cost, from time to time on request, do or procure the doing of all
acts and things and execute or procure the execution of all documents in a form satisfactory to the other Party which the other
Party may reasonably consider necessary or giving full effect to this Agreement.

 

		5.2	Any date or period specified in this Agreement may be postponed or extended by mutual agreement
among the Parties but, as regards any date or period originally fixed or so postponed or extended, time shall be of the essence.

 

		5.3	No Party may assign or transfer or purport to assign or transfer any of its rights or obligations
under this Agreement.

 

		5.4	No variation of this Agreement shall be effective unless made in writing and executed by the Parties.

 

		5.5	This Agreement may be executed in any number of counterparts, and by the Parties on separate counterparts,
but shall not be effective until each Party has executed at least one counterpart. Each counterpart shall constitute an original
of this Agreement, but all the counterparts shall together constitute but one and the same instrument.

 

     

     

    

 

		5.6	A person who is not a Party to this Agreement has no right to enforce or enjoy the benefit of any
term of this Agreement.

 

		5.7	Except otherwise required by the applicable law or regulations, neither party shall disclose any
provisions of this Agreement to the public or any third party, including any negotiations, communications and meetings between
Parties, whether in oral or written form.

 

		5.8	Assignor acknowledges and guarantees that Assignor shall provide and disclose all the executed
agreements related to Vitamin E and Farnesene to Assignee before the Effective Date.

 

		5.9	This Agreement is written in both Chinese and English and shall be interpreted in a fair and reasonable
manner in case of conflict.

 

		6.	GOVERNING LAW AND JURISDICTION

 

This Agreement shall be construed in
accordance with, and governed by P.R.C. law. Any dispute arising from or in connection with this Agreement shall be submitted to
China International Economic and Trade Arbitration Commission (CIETAC) in Beijing for arbitration which shall be conducted in accordance
with the CIETAC's arbitration rules In effect at the time of applying for arbitration. The arbitral award is final and binding
upon both parties.

 

 

 

[**Remainder of the Page Intentionally Left Blank; Signature Page
to Follow**]

 

 

 

 

     

     

    

 

Hangzhou Xinfu Science & Tech Co. Ltd

 

 

	               /s/ Lin Hang	 
	Name:	LIN HANG	 
	Title:	Executive Director	 

 

 

 

 

 

[The Assignment Agreement Signature Page]

 

 

 

 

 

     

     

    

 

Amyris, Inc.

 

 

	               /s/ John Melo	 
	Name:	JOHN MELO	 
	Title:	President + CEO	 

 

 

 

 

 

[The Assignment Agreement Signature Page]Exhibit 10.60

 

AMYRIS, INC. 2018 CASH BONUS PLAN

 

The Amyris, Inc. (the “Company”)
2018 cash bonus plan provides the following structure for executives, including the Company’s chief executive officer, chief
financial officer and other current named executive officers (the “Bonus Plan”):

 

	 	·	General Structure. The Bonus Plan provides for funding and payout of cash bonus awards based on quarterly and annual performance during 2018. The total potential funding of the Bonus Plan for each bonus period is based on the Company’s performance under certain metrics set by the Leadership Development and Compensation Committee (the “Committee”) of the Board of Directors of the Company for each quarter and for the year. Payouts under the Bonus Plan would occur following a review of the Company’s results and performance for each quarter and for the year and the executive officers’ individual performance results at the end of the year.

 

	 	·	Funding Target Levels and Performance Metrics. The total funding possible under the Bonus Plan is based on a cash value (the “Target Bonus Fund”) determined by the executive officers’ target bonus levels. Target bonus levels for the Company’s executive officers vary by officer, but are generally set between 40% and 100% of annual base salary. The aggregate amount of these target bonuses are the basis for the total funding of the Bonus Plan. The quarterly and annual funding of the Bonus Plan is based on achievement of the following Company performance metrics for each quarter during 2018 (as determined by the Committee and, in the case of quarterly funding, as applicable for the quarter based on the Company’s operating plan): GAAP revenue (weighted 50%) and gross margin (weighted 50%). For each quarterly period and for the annual period of the Bonus Plan, “threshold,” “target” and “superior” performance levels are set for each performance metric, which performance levels are intended to capture the relative difficulty of achievement of that metric.

 

	 	·	Funding Calculation. For each of the four quarterly periods of the Bonus Plan, the Bonus Plan allocates 12.5% of the total Target Bonus Fund. For the annual period of the Bonus Plan, the Bonus Plan allocates 50% of the total Target Bonus Fund. Funding is based on the weighted average achievement of the performance metrics that achieve at least the “threshold” performance level for a given Bonus Plan period. If the Company does not achieve at least a 70% weighted average achievement level of the performance metrics described above for a given Bonus Plan period (“funding threshold level”), no funding would occur under the Bonus Plan for such period. If the Company achieves the funding threshold level, 70% funding would occur. For a weighted average achievement between the funding threshold level and “target” level, a pro rata increase in funding would occur up to 100% of the Target Bonus Fund allocated to such period. For weighted average achievement above the target level, an increase in funding of 1.67% for every 1% above target performance would occur up to 150% of the Target Bonus Fund for the applicable period. In addition, funding for the annual period of the Bonus Plan is subject to further adjustment based on the Company’s achievement of a target for 2018 earnings before interest, tax, depreciation and amortization (“EBITDA”), which, if the EBITDA target is exceeded, would increase the funding for the annual period of the Bonus Plan by 20% or, if the EBITDA target is not met, would reduce the funding for the annual period of the Bonus Plan by 20%. If the Company achieves exactly the EBITDA target, no change to the funding for the annual period of the Bonus Plan would occur.

 

	 	·	Payouts. Any payouts for the quarterly periods of the Bonus Plan would be the same as the funded level based on Company performance (provided the recipient meets eligibility requirements), subject to the final discretion of the Committee. Payouts for the annual period of the Bonus Plan would be made from the aggregate funded amount in the discretion of the Committee based on Company and individual performance, and could range from 0% to 200% of an individual’s funded amount for the annual bonus period.

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