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Exhibit 10.81

 
Amended & Restated Severance Policy

Effective as of January 19, 2022
 
It is the policy of Kosmos Energy Ltd. and its subsidiaries (the “Company” or “Kosmos”) to offer eligible U.S. employees severance benefits when a termination is initiated by the Company through no fault of the employee in connection with a change in control.  As defined below, Kosmos will offer severance pay, a prorated target bonus, the cash equivalent to cover the cost of benefits continuation, and outplacement services to any employee who meets the defined eligibility requirements.  Severance benefits will be offered according to the attached severance formula matrix.
 
Eligibility
 
In connection with a change in control at Kosmos as defined in the Company’s Long Term Incentive Plan (“Change in Control”), regular full-time U.S. employees whose employment has terminated as a result of the following reasons will generally be eligible for severance benefits:
 
•Reduction in the work force.

•Reorganization of department(s) that results in the elimination of the job.

•Reorganization of department(s) that results in the diminution of the skills, requirements, aptitudes, or other criteria of the position in a material manner, as determined by the Company in its reasonable discretion, where the employee declines an offer to continue employment in the altered position or another position that the Company deems comparable in its reasonable discretion before any deadline and in the manner prescribed by the Company.

•Relocation of the job functions outside of a 50-mile radius where the employee is not offered employment at the new location or declines an offer of employment at the new location.
 
Employees will be ineligible for severance benefits where employment terminates for any other reason following a Change in Control.
 
Eligible employees who already have a separate severance agreement with the Company may receive severance benefits only under either that agreement or this Policy.  Under no circumstances may an eligible employee receive severance benefits under both arrangements.
 
Severance Plan Details
 
Separation and General Release Agreement
 
To receive the severance benefits, an eligible employee must sign and not revoke, if applicable, a Separation and General Release Agreement in the form prescribed by the Company.
 
Benefits Schedule
 
Severance benefits are generally based on job level and, except for members of SLT, years of service.  Attached is the severance formula matrix.  Excluding members of the SLT, Supplemental Severance Pay will be prorated based on partial years of service.
 
Annual Bonus Payment
 
As part of the severance benefits, the Company will offer eligible employees a prorated portion of their annual target bonus for the current year, if not yet already paid.
 

Exhibit 10.81

Health and Welfare Benefits
 
As part of the severance benefits, Kosmos will offer to pay eligible employees the cash equivalent to the monthly premium cost of continued coverage under COBRA multiplied by the number of months of the Minimum Severance Payout that the eligible employee would receive in accordance with the attached severance formula matrix.
 
Outplacement
 
Outplacement services are designed to assist individuals with various aspects of their future job search.  These services will be provided at the cost of Kosmos.  Outplacement services will be provided by a reputable outplacement firm at the sole choosing of Kosmos.  The duration of outplacement services offered as part of the severance benefits is provided on the attached severance formula matrix.
 
Vacation Payout
 
Eligible employees will receive a payout of all unused vacation and rollover vacation time.
 
Rehire
 
Employees terminated following a Change in Control through no fault of their own, will generally be eligible for rehire.
 
Exceptions
 
Any exceptions to this policy for Company Vice Presidents and below must be approved, in writing, by the head of Human Resources. There shall be no exceptions or deviations from this policy for Senior Vice Presidents and above (“Executive Officers”) unless agreed to in writing by the Executive Officer and the Compensation Committee of Kosmos Energy Ltd.’s Board of Directors.
 
Changes
 
Kosmos may amend or terminate this policy at any time, with or without notice.
 
 
Kosmos Severance Formula Matrix - Tiered Plan
 
																											
	Job Level	 	Minimum
Severance
Payout	 	Supplemental
Severance Pay	 	Health and Welfare Pay	 	Outplacement
Services

Exhibit 10.81

																											
	Members of the SLT	 	24 months base salary plus 2.0x target bonus	 	Not applicable	 	Cash Payment equivalent to the COBRA cost for the total severance period	 	18 months

Exhibit 10.81

																											
	SVPs not on the SLT and VPs	 	12 months base salary	 	4 weeks per year of service	 	Cash Payment equivalent to the COBRA cost for the total severance period	 	18 months

Exhibit 10.81

																											
	Sr. Director/Director/Petro and Geo Technical Professional	 	9 months base salary	 	3 weeks per year of service	 	Cash Payment equivalent to the COBRA cost for the total severance period	 	6 months

Exhibit 10.81

																											
	Sr. Manager/Manager	 	6 months base salary	 	3 weeks per year of service	 	Cash Payment equivalent to the COBRA cost for the total severance period	 	3 months

Exhibit 10.81

																											
	Support/Individual Contributor	 	3 months base salary	 	2 weeks per year of service	 	Cash Payment equivalent to the COBRA cost for the total severance period	 	3 months

Exhibit 10.81

 
** 18 months base salary maximum severance payout shall apply to all non-SLT members regardless of years of serviceDocument

Exhibit 4.3
DESCRIPTION OF THE REGISTRANT’S SECURITIES 
REGISTERED PURSUANT TO SECTION 12 OF THE 
SECURITIES EXCHANGE ACT OF 1934
As of February 28, 2022, Codexis, Inc. (“we,” “us” or “our”) had one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended: our common stock, $0.0001 par value per share (“common stock”).
Description of Common Stock
The following description of our common stock is a summary and does not purport to be complete.  It is subject to and qualified in its entirety by reference to our amended and restated certificate of incorporation, our certificate of designations of Series A Junior Participating Preferred Stock and our amended and restated bylaws, each of which are incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.3 is a part.  We encourage you to read our amended and restated certificate of incorporation, our certificate of designations of Series A Junior Participating Preferred Stock, our amended and restated bylaws and the applicable provisions of the Delaware General Corporation Law for additional information.
Authorized Capital Stock
Our authorized capital stock consists of:
•100,000,000 shares of common stock; and
•5,000,000 shares of preferred stock, $0.0001 par value per share, of which 100,000 shares have been designated as Series A Junior Participating Preferred Stock.
Voting Rights
Each holder of our common stock is entitled to one vote for each share on all matters submitted to a vote of the stockholders, including the election of directors.  Our stockholders do not have cumulative voting rights in the election of directors.  Accordingly, holders of a majority of the voting shares are able to elect all of the directors.  In addition, the affirmative vote of holders of 66 2/3% of the voting power of all of the then outstanding voting stock will be required to take certain actions, including amending certain provisions of our amended and restated certificate of incorporation, such as the provisions relating to amending our amended and restated bylaws, the classified board and director liability.
Dividends
Subject to preferences that may be applicable to any then outstanding preferred stock, holders of our common stock are entitled to receive dividends, if any, as may be declared from time to time by our board of directors out of legally available funds.
Liquidation
In the event of our liquidation, dissolution or winding up, holders of our common stock will be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of all of our debts and other liabilities and the satisfaction of any liquidation preference granted to the holders of any then outstanding shares of preferred stock.
Rights and Preferences
Holders of our common stock have no preemptive, conversion, subscription or other rights, and there are no redemption or sinking fund provisions applicable to our common stock.  The rights, preferences and privileges of the holders of our common stock are subject to and may be adversely affected by the rights of the holders of shares of any series of our preferred stock that we may designate in the future.
Preferred Stock – Limitations on Rights of Holders of Common Stock
Our board of directors has the authority, without further action by our stockholders, to issue up to 5,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions thereof.  These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, 
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terms of redemption, liquidation preferences, sinking fund terms and the number of shares constituting any series or the designation of such series, any or all of which may be greater than the rights of common stock.  The issuance of our preferred stock could adversely affect the voting power of holders of common stock and the likelihood that such holders will receive dividend payments and payments upon our liquidation.  In addition, the issuance of preferred stock could have the effect of delaying, deferring or preventing a change in control of our company or other corporate action.
Anti-Takeover Effects of Provisions of our Amended and Restated Certificate of Incorporation, our Amended and Restated Bylaws and Delaware Law
Some provisions of Delaware law and our amended and restated certificate of incorporation and our amended and restated bylaws contain provisions that could make the following transactions more difficult: acquisition of us by means of a tender offer; acquisition of us by means of a proxy contest or otherwise; or removal of our incumbent officers and directors.  It is possible that these provisions could make it more difficult to accomplish or could deter transactions that stockholders may otherwise consider to be in their best interest or in our best interests, including transactions that might result in a premium over the market price for our shares.
These provisions, summarized below, are expected to discourage coercive takeover practices and inadequate takeover bids.  These provisions are also designed to encourage persons seeking to acquire control of us to first negotiate with our board of directors.  We believe that the benefits of increased protection of our potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us outweigh the disadvantages of discouraging these proposals because negotiation of these proposals could result in an improvement of their terms.
Delaware Anti-Takeover Statute
We are subject to the provisions of Section 203 of the Delaware General Corporation Law.  Under Section 203, we would generally be prohibited from engaging in any business combination with any interested stockholder for a period of three years following the time that this stockholder became an interested stockholder unless:
•prior to this time, the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;
•upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding shares owned by persons who are directors and also officers, and by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or
•at or subsequent to such time, the business combination is approved by the board of directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder.
Under Section 203, a “business combination” includes:
•any merger or consolidation involving the corporation and the interested stockholder;
•any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;
•any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder, subject to limited exceptions;
•any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder; or
•the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.
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In general, Section 203 defines an interested stockholder as an entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or controlled by such entity or person.
Undesignated Preferred Stock
The ability to authorize undesignated preferred stock makes it possible for our board of directors to issue preferred stock with voting or other rights or preferences that could impede the success of any attempt to change control of us.  These and other provisions may have the effect of deterring hostile takeovers or delaying changes in control or management of our company.
Special Stockholder Meetings
Our charter documents provide that a special meeting of stockholders may be called only by our chairman of the board of directors, Chief Executive Officer or President, or by a resolution adopted by a majority of our board of directors.
Requirements for Advance Notification of Stockholder Nominations and Proposals
Our amended and restated bylaws establish advance notice procedures with respect to stockholder proposals and the nomination of candidates for election as directors, other than nominations made by or at the direction of the board of directors or a committee of the board of directors.
Elimination of Stockholder Action by Written Consent
Our amended and restated certificate of incorporation eliminates the right of stockholders to act by written consent without a meeting.
Classified Board; Election and Removal of Directors; Filling Vacancies
Our board of directors is divided into three classes.  The directors in each class will serve for a three-year term, one class being elected each year by our stockholders, with staggered three-year terms.  Only one class of directors will be elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their respective three-year terms.  Because our stockholders do not have cumulative voting rights, our stockholders holding a majority of the shares of common stock outstanding will be able to elect all of our directors.  Our amended and restated certificate of incorporation provides for the removal of any of our directors only for cause and requires a stockholder vote by the holders of at least a 66 2/3% of the voting power of the then outstanding voting stock.  Furthermore, any vacancy on our board of directors, however occurring, including a vacancy resulting from an increase in the size of the board of directors, may only be filled by a resolution of the board of directors unless the board of directors determines that such vacancies shall be filled by the stockholders.  This system of electing and removing directors and filling vacancies may tend to discourage a third party from making a tender offer or otherwise attempting to obtain control of us, because it generally makes it more difficult for stockholders to replace a majority of the directors.
Amendment of Charter Provisions
The amendment of any of the above provisions, except for the provision making it possible for our board of directors to issue preferred stock, would require approval by holders of at least 66-2/3% of the voting power of our then outstanding voting stock.
The provisions of the Delaware General Corporation Law, our amended and restated certificate of incorporation and our amended and restated bylaws could have the effect of discouraging others from attempting hostile takeovers and, as a consequence, they may also inhibit temporary fluctuations in the market price of our common stock that often result from actual or rumored hostile takeover attempts.  These provisions may also have the effect of preventing changes in our management.  It is possible that these provisions could make it more difficult to accomplish transactions that stockholders may otherwise deem to be in their best interests.
Limitations of Liability and Indemnification Matters
Our amended and restated certificate of incorporation contains provisions that limit the liability of our directors for monetary damages to the fullest extent permitted by Delaware law.  Consequently, our directors will not be personally liable to us or our stockholders for monetary damages for any breach of fiduciary duties as directors, except liability for:
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•any breach of the director’s duty of loyalty to us or our stockholders;
•any act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;
•unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the Delaware General Corporation Law; or
•any transaction from which the director derived an improper personal benefit.
Our amended and restated certificate of incorporation provides that we may, and our amended and restated bylaws provide that we are required to, indemnify our directors and officers, in each case to the fullest extent permitted by Delaware law.  Our amended and restated bylaws also provide that we shall advance expenses incurred by a director or officer in advance of the final disposition of any action or proceeding, and permit us to secure insurance on behalf of any officer, director, employee or other agent for any liability arising out of his or her actions in that capacity regardless of whether we would otherwise be permitted to indemnify him or her under Delaware law.  We have entered and expect to continue to enter into agreements to indemnify our directors, executive officers and other employees as determined by our board of directors.  With specified exceptions, these agreements provide for indemnification for related expenses including, among other things, attorneys’ fees, judgments, fines and settlement amounts incurred by any of these individuals in any action or proceeding.  We believe that these bylaw provisions and indemnification agreements are necessary to attract and retain qualified persons as directors and officers.  We also maintain directors’ and officers’ liability insurance.
The limitation of liability and indemnification provisions in our amended and restated certificate of incorporation and amended and restated bylaws may discourage stockholders from bringing a lawsuit against our directors and officers for breach of their fiduciary duty.  They may also reduce the likelihood of derivative litigation against our directors and officers, even though an action, if successful, might benefit us and our stockholders.  Further, a stockholder’s investment may be adversely affected to the extent that we pay the costs of settlement and damage.
The Nasdaq Global Select Market Listing
Our common stock is listed on The Nasdaq Global Select Market under the symbol “CDXS.”
Transfer Agent and Registrar
The transfer agent and registrar for our common stock is EQ Shareowner Services.

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