Document:

EXHIBIT 10.04

 

AMYRIS, INC.

2010 Employee Stock Purchase
Plan

As Amended May 22, 2018

 

1.        Establishment
of Plan. Amyris, Inc. (the “Company”) proposes to grant options for purchase of the Company’s Common Stock
to eligible employees of the Company and its Participating Corporations (as hereinafter defined) pursuant to this Employee Stock
Purchase Plan (as amended, this “Plan”). For purposes of this Plan, “Parent” and “Subsidiary”
shall have the same meanings as “parent corporation” and “subsidiary corporation” in Sections 424(e) and
424(f), respectively, of the Internal Revenue Code of 1986, as amended (the “Code”), and “Corporate Group”
shall refer collectively to the Company and all its Parents and Subsidiaries. “Participating Corporations” are the
Company and any Parents or Subsidiaries that the Board of Directors of the Company (the “Board”) designates from time
to time as corporations that shall participate in this Plan. The Company intends this Plan to qualify as an “employee stock
purchase plan” under Section 423 of the Code (including any amendments to or replacements of such Section), and this Plan
shall be so construed. Any term not expressly defined in this Plan but defined for purposes of Section 423 of the Code shall have
the same definition herein. Subject to Section 14, a total of 11,241 shares of the Company’s Common Stock is reserved for
issuance under this Plan. In addition, on each January 1 for each calendar year after the Effective Date, the aggregate number
of shares of the Company’s Common Stock reserved for issuance under the Plan shall be increased automatically by the lesser
of one (1%) percent of the number of shares of the Company’s Common Stock issued and outstanding on each December 31 immediately
prior to the date of increase or (ii) such number of shares of the Company’s Common determined by the Board or the Committee
provided that the aggregate number of shares issued over the term of this Plan shall not exceed 1,666,666 shares of Common Stock.

2.        Purpose.
The purpose of this Plan is to provide eligible employees of the Company and Participating Corporations with a means of acquiring
an equity interest in the Company through payroll deductions, to enhance such employees’ sense of participation in the affairs
of the Company and Participating Corporations, and to provide an incentive for continued employment.

3.        Administration.
The Plan will be administered by the Compensation Committee of the Board or by the Board (either referred to herein as the “Committee”).
Subject to the provisions of this Plan and the limitations of Section 423 of the Code or any successor provision in the Code, all
questions of interpretation or application of this Plan shall be determined by the Committee and its decisions shall be final and
binding upon all Participants. The Committee will have full and exclusive discretionary authority to construe, interpret and apply
the terms of the Plan, to determine eligibility and decide upon any and all claims filed under the Plan. Every finding, decision
and determination made by the Committee will, to the full extent permitted by law, be final and binding upon all parties. Notwithstanding
any provision to the contrary in this Plan, the Committee may adopt rules and/or procedures relating to the operation and administration
of the Plan to accommodate requirements of local law and procedures outside of the United States. Members of the Committee shall
receive no compensation for their services in connection with the administration of this Plan, other than standard fees as established
from time to time by the Board for services rendered by Board members serving on Board committees. All expenses incurred in connection
with the administration of this Plan shall be paid by the Company.

4.        Eligibility.
Any employee of the Company or the Participating Corporations is eligible to participate in an Offering Period (as hereinafter
defined) under this Plan except the following:

    	 		 

     

    

(a) employees who are not employed by the Company
or a Participating Corporation prior to the beginning of such Offering Period or prior to such other time period as specified by
the Committee; except that employees who are employed on the Effective Date of the Registration Statement filed by the Company
with the Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the “Securities
Act”) registering the initial public offering of the Company’s Common Stock shall be eligible to participate in the
First Offering Period;

(b) employees who are customarily employed for
twenty (20) hours or less per week;

(c) employees who are customarily employed for
five (5) months or less in a calendar year;

(d) employees who, together with any other person
whose stock would be attributed to such employee pursuant to Section 424(d) of the Code, own stock or hold options to purchase
stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or
any of its Participating Corporations or who, as a result of being granted an option under this Plan with respect to such Offering
Period, would own stock or hold options to purchase stock possessing five percent (5%) or more of the total combined voting power
or value of all classes of stock of the Company or any of its Participating Corporations;

(e) employees who do not meet any other eligibility
requirements that the Committee may choose to impose (within the limits permitted by the Code);

(f) employees who have been an employee of the
Company for less than one (1) month prior to the first day of an Offering Period (except as set forth in (a) above); and

(g) individuals who provide services to the Company
or any of its Participating Corporations as independent contractors who are reclassified as common law employees for any reason
except for federal income and employment tax purposes.

5.        Offering
Dates.

(a) The offering periods of this Plan (each, an
“Offering Period”) may be of up to twelve (12) months duration (except the Initial Offering Period, which may be longer
than twelve (12) months as described below) and shall commence and end at the times designated by the Committee. Each Offering
Period shall consist of two six month purchase periods (each a “Purchase Period”) during which payroll deductions of
Participants are accumulated under this Plan.

(b) The initial Offering Period shall commence
on the date on which the Registration Statement covering the initial public offering of shares of the Company’s Common Stock
is declared effective by the U.S. Securities and Exchange Commission (the “Effective Date”), and shall end on November
15th of the year following the Effective Date. The initial Offering Period shall consist of a single Purchase Period. Thereafter,
a twelve-month Offering Period shall commence on each May 16th and November 16th, with each such Offering
Period also consisting of two six-month Purchase Periods.

(c) The first business day of each Offering Period
is referred to as the “Offering Date,” however, for the initial Offering Period this shall be the Effective Date. The
last business day of each Purchase Period is referred to as the “Purchase Date.” The Committee shall have the power
to change the terms of this Section 5 as provided in Section 25 below.

6.        Participation
in this Plan.

(a) Any employee who is an eligible employee determined
in accordance with Section 4 immediately prior to the initial Offering Period will be automatically enrolled in the initial Offering
Period under this Plan. With respect to subsequent Offering Periods, any eligible employee determined in accordance with Section
4 will be eligible to participate in this Plan, subject to the requirement of Section 6(b) hereof and the other terms and provisions
of this Plan. Eligible employees who meet the eligibility requirements set forth in Section 4 and who are either automatically
enrolled in the initial offering period or who elect to participate in the this Plan pursuant to Section 6(b) are referred to herein
as a “Participant” or collectively as “Participants.”

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(b)        Notwithstanding
the foregoing, (i) an eligible employee may elect to decrease the number of shares of Common Stock that such employee would otherwise
be permitted to purchase for the initial Offering Period under the Plan and/or purchase shares of Common Stock for the initial
Offering Period through payroll deductions by delivering a subscription agreement to the Company within thirty (30) days after
the filing of an effective registration statement pursuant to Form S-8 and (ii) the Committee may set a later time for filing the
subscription agreement authorizing payroll deductions for all eligible employees with respect to a given Offering Period. With
respect to Offering Periods after the initial Offering Period, a Participant may elect to participate in this Plan by submitting
a subscription agreement prior to the commencement of the Offering Period (or such earlier date as the Committee may determine)
to which such agreement relates.

(c)       Once
an employee becomes a Participant in an Offering Period, then such Participant will automatically participate in the Offering Period
commencing immediately following the last day of such prior Offering Period unless the Participant withdraws or is deemed to withdraw
from this Plan or terminates further participation in the Offering Period as set forth in Section 11 below. Such Participant is
not required to file any additional subscription agreement in order to continue participation in this Plan.

7.        Grant
of Option on Enrollment. Becoming a Participant with respect to an Offering Period will constitute the grant (as of the Offering
Date) by the Company to such Participant of an option to purchase on the Purchase Date up to that number of shares of Common Stock
of the Company determined by a fraction, the numerator of which is the amount accumulated in such Participant’s payroll
deduction account during such Purchase Period and the denominator of which is the lower of (i) eighty-five percent (85%)
of the fair market value of a share of the Company’s Common Stock on the Offering Date (but in no event less than the par
value of a share of the Company’s Common Stock), or (ii) eighty-five percent (85%) of the fair market value of a share
of the Company’s Common Stock on the Purchase Date (but in no event less than the par value of a share of the Company’s
Common Stock) provided, however, that for the Purchase Period within the initial Offering Period the numerator shall be
fifteen percent (15%) of the Participant’s compensation for such Purchase Period and provided, further, that
the number of shares of the Company’s Common Stock subject to any option granted pursuant to this Plan shall not exceed the
lesser of (x) the maximum number of shares set by the Committee pursuant to Section 10(b) below with respect to the applicable
Purchase Date, or (y) the maximum number of shares which may be purchased pursuant to Section 10(a) below with respect to
the applicable Purchase Date. The fair market value of a share of the Company’s Common Stock shall be determined as provided
in Section 8 below.

8.        Purchase
Price. The purchase price per share at which a share of Common Stock will be sold in any Offering Period shall be eighty-five
percent (85%) of the lesser of:

(a) The fair market value on the Offering Date;
or

(b) The fair market value on the Purchase Date.

The term “fair market value” means,
as of any date, the value of a share of the Company’s Common Stock determined as follows:

(i) if such Common Stock is publicly traded and
is then listed on a national securities exchange, its closing price on the date of determination on the principal national securities
exchange on which the Common Stock is listed or admitted to trading as reported in The Wall Street Journal or such other source
as the Board or the Committee deems reliable; or

(ii) if such Common Stock is publicly traded but
is neither listed or admitted to trading on a national securities exchange, the average of the closing bid and asked prices on
the date of determination as reported in The Wall Street Journal or such other source as the Board or the Committee deems reliable;
or

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(iii) with respect to the initial Offering Period,
“fair market value” on the Offering Date shall be the price at which shares of Common Stock are offered to the public
pursuant to the Registration Statement covering the initial public offering of shares of the Company’s Common Stock; and

(iv) if none of the foregoing is applicable, by
the Board or the Committee in good faith.

9.        Payment
of Purchase Price; Payroll Deduction Changes; Share Issuances.

(a) The purchase price of the shares is accumulated
by regular payroll deductions made during each Offering Period. The deductions are made as a percentage of the Participant’s
compensation in one percent (1%) increments not less than one percent (1%), nor greater than fifteen percent (15%) or such lower
limit set by the Committee. Compensation shall mean all compensation categorized by the Company as total compensation including
base salary or regular hourly wages, overtime, holiday, vacation and sick pay and shift premiums and excluding, to the extent permitted
by Code Section 423, bonuses, salary continuation, relocation assistance payments, geographical hardship pay, noncash prizes and
awards, automobile allowances, severance type payments, and nonqualified deferred executive compensation (including amounts attributable
to equity compensation), provided, however, that for purposes of determining a Participant’s compensation,
any election by such Participant to reduce his or her regular cash remuneration under Sections 125 or 401(k) of the Code shall
be treated as if the Participant did not make such election. Payroll deductions shall commence on the first payday following the
last Purchase Date (first payday following the effective date of filing with the U.S. Securities and Exchange Commission a securities
registration statement for the Plan with respect to the initial Offering Period) and shall continue to the end of the Offering
Period unless sooner altered or terminated as provided in this Plan.

(b) A Participant may increase or decrease the
rate of payroll deductions during an Offering Period by filing with the Company a new authorization for payroll deductions, with
the new rate to become effective for the next payroll period commencing after the Company’s receipt of the authorization
and continuing for the remainder of the Offering Period unless changed as described below. Such change in the rate of payroll deductions
may be made at any time during an Offering Period, under rules determined by the Committee. A Participant may increase or decrease
the rate of payroll deductions for any subsequent Offering Period by filing with the Company a new authorization for payroll deductions
prior to the beginning of such Offering Period, or such other time period as specified by the Committee.

(c) A Participant may reduce his or her payroll
deduction percentage to zero during an Offering Period by filing with the Company a request for cessation of payroll deductions.
Such reduction shall be effective beginning with the next payroll period after the Company’s receipt of the request and no
further payroll deductions will be made for the duration of the Offering Period. Payroll deductions credited to the Participant’s
account prior to the effective date of the request shall be used to purchase shares of Common Stock of the Company in accordance
with Section (e) below. A reduction of the payroll deduction percentage to zero shall be treated as such Participant’s
withdrawal from such Offering Period, and the Plan, effective as of the day after the next Purchase Date following the filing date
of such request with the Company.

(d) All payroll deductions made for a Participant
are credited to his or her account under this Plan and are deposited with the general funds of the Company. No interest accrues
on the payroll deductions. All payroll deductions received or held by the Company may be used by the Company for any corporate
purpose, and the Company shall not be obligated to segregate such payroll deductions.

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(e) On each Purchase Date, so long as this Plan
remains in effect and provided that the Participant has not submitted a signed and completed withdrawal form before that date which
notifies the Company that the Participant wishes to withdraw from that Offering Period under this Plan and have all payroll deductions
accumulated in the account maintained on behalf of the Participant as of that date returned to the Participant, the Company shall
apply the funds then in the Participant’s account to the purchase of whole shares of Common Stock reserved under the option
granted to such Participant with respect to the Offering Period to the extent that such option is exercisable on the Purchase Date.
The purchase price per share shall be as specified in Section 8 of this Plan. Any amount remaining in a Participant’s account
on a Purchase Date which is less than the amount necessary to purchase a full share of the Company’s Common Stock shall be
carried forward, without interest, into the next Purchase Period or Offering Period, as the case may be. In the event that this
Plan has been oversubscribed, all funds not used to purchase shares on the Purchase Date shall be returned to the Participant,
without interest. No Common Stock shall be purchased on a Purchase Date on behalf of any employee whose participation in this Plan
has terminated prior to such Purchase Date.

(f) As promptly as practicable after the Purchase
Date, the Company shall issue shares for the Participant’s benefit representing the shares purchased upon exercise of his
or her option.

(g) During a Participant’s lifetime, his
or her option to purchase shares hereunder is exercisable only by him or her. The Participant will have no interest or voting right
in shares covered by his or her option until such option has been exercised.

10.        Limitations
on Shares to be Purchased.

(a) No Participant shall be entitled to purchase
stock under any Offering Period at a rate which, when aggregated with such Participant’s rights to purchase stock, that are
also outstanding in the same calendar year(s) (whether under other Offering Periods or other employee stock purchase plans of the
Corporate Group), exceeds $25,000 in fair market value, determined as of the Offering Date, (or such other limit as may be imposed
by the Code) for each calendar year in which such Offering Period is in effect (hereinafter the “Maximum Share Amount”).
The Company shall automatically suspend the payroll deductions of any Participant as necessary to enforce such limit provided that
when the Company automatically resumes such payroll deductions, the Company must apply the rate in effect immediately prior to
such suspension.

(b) The Committee may, in its sole discretion,
set a lower maximum number of shares which may be purchased by any Participant during any Offering Period than that determined
under Section 10(a) above, which shall then be the Maximum Share Amount for subsequent Offering Periods; provided, however, in
no event shall a Participant be permitted to purchase more than 3,000 Shares during any one Offering Period, irrespective of the
Maximum Share Amount set forth in (a) and (b) hereof. If a new Maximum Share Amount is set, then all Participants must be notified
of such Maximum Share Amount prior to the commencement of the next Offering Period for which it is to be effective. The Maximum
Share Amount shall continue to apply with respect to all succeeding Offering Periods unless revised by the Committee as set forth
above.

(c) If the number of shares to be purchased on
a Purchase Date by all Participants exceeds the number of shares then available for issuance under this Plan, then the Company
will make a pro rata allocation of the remaining shares in as uniform a manner as shall be reasonably practicable and as the Committee
shall determine to be equitable. In such event, the Company shall give written notice of such reduction of the number of shares
to be purchased under a Participant’s option to each Participant affected.

(d) Any payroll deductions accumulated in a Participant’s
account which are not used to purchase stock due to the limitations in this Section 10, and not covered by Section 9(e), returned
to the Participant as soon as practicable after the end of the applicable Purchase Period..

11.        Withdrawal.

(a) Each Participant may withdraw from an Offering
Period under this Plan by signing and delivering to the Company a written notice to that effect on a form provided for such purpose
by the Company. Such withdrawal may be elected at any time prior to the end of an Offering Period, or such other time period as
specified by the Committee.

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(b) Upon withdrawal from this Plan, the accumulated
payroll deductions shall be returned to the withdrawn Participant, without interest, and his or her interest in this Plan shall
terminate. In the event a Participant voluntarily elects to withdraw from this Plan, he or she may not resume his or her participation
in this Plan during the same Offering Period, but he or she may participate in any Offering Period under this Plan which commences
on a date subsequent to such withdrawal by filing a new authorization for payroll deductions in the same manner as set forth in
Section 6 above for initial participation in this Plan.

12.       Termination
of Employment. Termination of a Participant’s employment for any reason, including retirement, death, disability, or
the failure of a Participant to remain an eligible employee of the Company or of a Participating Corporation, immediately terminates
his or her participation in this Plan. In such event, accumulated payroll deductions credited to the Participant’s account
will be returned to him or her or, in the case of his or her death, to his or her legal representative, without interest. For purposes
of this Section 12, an employee will not be deemed to have terminated employment or failed to remain in the continuous employ of
the Company or of a Participating Corporation in the case of sick leave, military leave, or any other leave of absence approved
by the Company; provided that such leave is for a period of not more than ninety (90) days or reemployment upon the expiration
of such leave is guaranteed by contract or statute.

13.        Return
of Payroll Deductions. In the event a Participant’s interest in this Plan is terminated by withdrawal, termination of
employment or otherwise, or in the event this Plan is terminated by the Board, the Company shall deliver to the Participant all
accumulated payroll deductions credited to such Participant’s account. No interest shall accrue on the payroll deductions
of a Participant in this Plan.

14.        Capital
Changes. If the number of outstanding Shares is changed by a stock dividend, recapitalization, stock split, reverse stock split,
subdivision, combination, reclassification or similar change in the capital structure of the Company, without consideration, then
the Committee shall adjust the number and class of Common Stock that may be delivered under the Plan, the purchase price per share
and the number of shares of Common Stock covered by each option under the Plan which has not yet been exercised, and the numerical
limits of Sections 1 and 10 shall be proportionately adjusted, subject to any required action by the Board or the stockholders
of the Company and in compliance with applicable securities laws; provided that fractions of a Share will not be issued.

15.        Nonassignability.
Neither payroll deductions credited to a Participant’s account nor any rights with regard to the exercise of an option or
to receive shares under this Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will,
the laws of descent and distribution or as provided in Section 22 below) by the Participant. Any such attempt at assignment, transfer,
pledge or other disposition shall be void and without effect.

16.        Use
of Participant Funds and Reports. The Company may use all payroll deductions received or held by it under the Plan for any
corporate purpose, and the Company will not be required to segregate Participant payroll deductions. Until Shares are issued, Participants
will only have the rights of an unsecured creditor. Each Participant shall receive promptly after the end of each Purchase Period
a report of his or her account setting forth the total payroll deductions accumulated, the number of shares purchased, the per
share price thereof and the remaining cash balance, if any, carried forward to the next Purchase Period or Offering Period, as
the case may be.

17.        Notice
of Disposition. Each Participant shall notify the Company in writing if the Participant disposes of any of the shares purchased
in any Offering Period pursuant to this Plan if such disposition occurs within two (2) years from the Offering Date or within one
(1) year from the Purchase Date on which such shares were purchased (the “Notice Period”). The Company may, at
any time during the Notice Period, place a legend or legends on any certificate representing shares acquired pursuant to this Plan
requesting the Company’s transfer agent to notify the Company of any transfer of the shares. The obligation of the Participant
to provide such notice shall continue notwithstanding the placement of any such legend on the certificates.

    	 	6	 

     

    

18.        No
Rights to Continued Employment. Neither this Plan nor the grant of any option hereunder shall confer any right on any employee
to remain in the employ of the Company or any Participating Corporation, or restrict the right of the Company or any Participating
Corporation to terminate such employee’s employment.

19.        Equal
Rights And Privileges. All eligible employees shall have equal rights and privileges with respect to this Plan so that this
Plan qualifies as an “employee stock purchase plan” within the meaning of Section 423 or any successor provision of
the Code and the related regulations. Any provision of this Plan which is inconsistent with Section 423 or any successor provision
of the Code shall, without further act or amendment by the Company, the Committee or the Board, be reformed to comply with the
requirements of Section 423. This Section 19 shall take precedence over all other provisions in this Plan.

20.        Notices.
All notices or other communications by a Participant to the Company under or in connection with this Plan shall be deemed to have
been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company
for the receipt thereof.

21.        Term;
Stockholder Approval. This Plan will become effective on the Effective Date. This Plan, as amended, shall be approved by the
stockholders of the Company, in any manner permitted by applicable corporate law, within twelve (12) months before or after the
date this Plan is adopted by the Board. No purchase of shares that are subject to such stockholder approval before becoming available
under this Plan shall occur prior to stockholder approval of such shares and the Board or Committee may delay any Purchase Date
and postpone the commencement of any Offering Period subsequent to such Purchase Date as deemed necessary or desirable to obtain
such approval. This Plan shall continue until the earlier to occur of (a) termination of this Plan by the Board (which termination
may be effected by the Board at any time pursuant to Section 25 below), (b) issuance of all of the shares of Common Stock reserved
for issuance under this Plan, or (c) the tenth anniversary of the first Purchase Date under the Plan.

22.        Designation
of Beneficiary.

(a) A Participant may file a written designation
of a beneficiary who is to receive any shares and cash, if any, from the Participant’s account under this Plan in the event
of such Participant’s death subsequent to the end of a Purchase Period but prior to delivery to him of such shares and cash.
In addition, a Participant may file a written designation of a beneficiary who is to receive any cash from the Participant’s
account under this Plan in the event of such Participant’s death prior to a Purchase Date.

(b) Such designation of beneficiary may be changed
by the Participant at any time by written notice. In the event of the death of a Participant and in the absence of a beneficiary
validly designated under this Plan who is living at the time of such Participant’s death, the Company shall deliver such
shares or cash to the executor or administrator of the estate of the Participant, or if no such executor or administrator has been
appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such shares or cash to the spouse or to
any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Company, then
to such other person as the Company may designate.

23.        Conditions
Upon Issuance of Shares; Limitation on Sale of Shares. Shares shall not be issued with respect to an option unless the exercise
of such option and the issuance and delivery of such shares pursuant thereto shall comply with all applicable provisions of law,
domestic or foreign, including, without limitation, the Securities Act, the Securities Exchange Act of 1934, as amended, the rules
and regulations promulgated thereunder, and the requirements of any stock exchange or automated quotation system upon which the
shares may then be listed, and shall be further subject to the approval of counsel for the Company with respect to such compliance.

24.        Applicable
Law. The Plan shall be governed by the substantive laws (excluding the conflict of laws rules) of the State of Delaware.

    	 	7	 

     

    

25.        Amendment
or Termination. The Committee, in its sole discretion, may amend, suspend, or terminate the Plan, or any part thereof, at any
time and for any reason. If the Plan is terminated, the Committee, in its discretion, may elect to terminate all outstanding Offering
Periods either immediately or upon completion of the purchase of shares of Common Stock on the next Purchase Date (which may be
sooner than originally scheduled, if determined by the Committee in its discretion), or may elect to permit Offering Periods to
expire in accordance with their terms (and subject to any adjustment pursuant to Section 14). If an Offering Period is terminated
prior to its previously-scheduled expiration, all amounts then credited to Participants’ accounts for such Offering Period,
which have not been used to purchase shares of the Company’s Common Stock, shall be returned to those Participants (without
interest thereon, except as otherwise required under local laws) as soon as administratively practicable. Further, the Committee
will be entitled to change the Purchase Periods and Offering Periods, limit the frequency and/or number of changes in the amount
withheld during an Offering Period, permit contributions to be increased or decreased, establish the exchange ratio applicable
to amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount designated by a Participant
in order to adjust for delays or mistakes in the administration of the Plan, establish reasonable waiting and adjustment periods
and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of the Company’s Common Stock
for each Participant properly correspond with amounts withheld from the Participant’s base salary or regular hourly wages,
and establish such other limitations or procedures as the Committee determines in its sole discretion advisable which are consistent
with the Plan. Such actions will not require stockholder approval or the consent of any Participants. However, no amendment shall
be made without approval of the stockholders of the Company (obtained in accordance with Section 21 above) within twelve (12) months
of the adoption of such amendment (or earlier if required by Section 21) if such amendment would: (a) increase the number of shares
that may be issued under this Plan; or (b) change the designation of the employees (or class of employees) eligible for participation
in this Plan.

26.        Corporate
Transactions.

(a) In the event of a Corporate Transaction (as
defined below), each outstanding right to purchase Company Common Stock will be assumed or an equivalent option substituted by
the successor corporation or a parent or a subsidiary of the successor corporation. In the event that the successor corporation
refuses to assume or substitute for the purchase right, the Offering Period with respect to which such purchase right relates will
be shortened by setting a new Purchase Date (the “New Purchase Date”) and will end on the New Purchase Date. The New
Purchase Date shall occur on or prior to the consummation of the Corporate Transaction.

(b) “Corporate Transaction” means
the occurrence of any of the following events: (i) any “person” (as such term is used in Sections 13(d) and 14(d) of
the Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly,
of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s
then outstanding voting securities; or (ii) the consummation of the sale or disposition by the Company of all or substantially
all of the Company’s assets; or (iii) the consummation of a merger or consolidation of the Company with any other corporation,
other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto
continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or
its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or
such surviving entity or its parent outstanding immediately after such merger or consolidation.

 

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        Amyris, Inc.
        (THE “COMPANY”)

        2010 EMPLOYEE STOCK PURCHASE PLAN (“ESPP”)
	 	ENROLLMENT/CHANGE FORM                    

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	
         

        SECTION 1:

         

        ACTIONS
	 	
         

        CHECK DESIRED ACTION:

         

         ̈           Enroll
        in the ESPP

         ̈           Change Contribution Percentage

         ̈           Discontinue Contributions

         
	 	
         

        AND COMPLETE SECTIONS:

         

        2 + 3 + 4 + 6

        2 + 4 + 6

        2 + 5 + 6
	 	 	 	 	 
	
         

        SECTION 2:
	 	
         

        Name:
	 	
 

	 	 	 	
         

        Department:
	 
	
         

        PERSONAL DATA
	 	
         

        Home Address:
	 	
 

	 	 	 	
 

         
	 
	 	 	
 

	 	 	 	 	 
	 	 	
        Social Security No.:  ̈  ̈  ̈
        -  ̈  ̈ -  ̈  ̈  ̈  ̈

         
	 	 	 	 	 
	
         

        SECTION 3:

         

        ENROLL
	 	
         

        I hereby elect to participate in the ESPP, effective at the
        beginning of the next Offering Period (or with the first Offering Period). I elect to purchase shares of the Common Stock of the
        Company pursuant to the ESPP. I understand that the stock certificate(s) for the shares purchased on my behalf will be issued in
        street name and deposited directly into my brokerage account. I hereby agree to take all steps, and sign all forms, required to
        establish an account with [                    ]
        for this purpose.

         

        My participation will continue as long as I remain eligible,
        unless I withdraw from the ESPP by filing a new Enrollment/Change Form with the Company. I understand that I must notify the Company
        of any disposition of shares purchased under the ESPP.

         
	 
	
         

        SECTION 4:

         

        ELECT

        CONTRIBUTION

        PERCENTAGE
	 	
         

        I hereby authorize the Company to withhold from each of my
        paychecks such amount as is necessary to equal at the end of the applicable Offering Period     % of
        my compensation (as defined in the ESPP) paid during such Offering Period as long as I continue to participate in the ESPP. That
        amount will be applied to the purchase of shares of the Company’s Common Stock pursuant to the ESPP. The percentage must
        be a whole number (from 1%, up to a maximum of 15%).

         

        Please  ̈
        -increase  ̈ -decrease my contribution percentage.

         

        Note:  You may change
        your contribution percentage only once within an Offering Period to be effective during such Offering Period and such change can
        only be to decrease your contribution percentage. An increase in your contribution percentage can only take effect with the
        next Offering Period. Each change will become effective as soon as reasonably practicable after the form is received by the
        Company.

         
	 
	
         

        SECTION 5:

         

        DISCONTINUE

        CONTRIBUTIONS
	 	
         

         ̈
             I hereby elect to stop my contributions under the ESPP, effective as soon as reasonably
        practicable after this form is received by the Company. Please  ̈ -refund all contributions
        to me in cash, without interest OR  ̈ -use my contributions to purchase shares on
        the next Purchase Date. I understand that I cannot resume participation until the start of the next Offering Period and must
        timely file a new enrollment form to do so.

         
	 
	
         

        SECTION 6:

         

        ACKNOWLEDGMENT  AND SIGNATURE
	 	
         

        I acknowledge that I have received a copy of the ESPP and
        of the Prospectus (which summarizes the major features of the ESPP). I have read the Prospectus and my signature below (or my clicking
        on the Accept box if this is an electronic form) indicates that I hereby agree to be bound by the terms of the ESPP.
	 
	 	 	
        Signature:                        
                                              

         
	 	 	 	 	 	
        Date:EXHIBIT 10.05

 

AMYRIS, INC. 

2010 EQUITY INCENTIVE PLAN 

NOTICE OF PERFORMANCE STOCK OPTION GRANT

Unless otherwise defined herein, the terms defined
in the 2010 Amyris, Inc. (the “Company”) Equity Incentive Plan (the “Plan”) shall have the
same meanings in this Notice of Performance Stock Option Grant (the “Notice”).

 

Name:__John Melo_______________________________________________________

 

You (the “Participant”) have
been granted an option to purchase shares of Common Stock of the Company (the “Option”) under the Plan subject
to the terms and conditions of the Plan, this Notice and the Performance Stock Option Award Agreement (the Notice and Performance
Stock Option Award Agreement together, the “Agreement”).

 

Date of Grant:_May 29, 2018_________________________________

Exercise Price per Share:_$5.08__________________________________

Total Number of Shares:3,250,000

Type of Option:Non-Qualified Stock Option

Expiration Date:_May 29, 2028_________________________________

Vesting Schedule:As set forth below

 

		I.	Vesting Requirements

This Option is a performance-based stock option
award and, subject to Participant continuing as the Chief Executive Officer of the Company (the “Chief Executive Officer”)
through each vesting event, shall vest and be exercisable upon the vesting dates set forth below subject to the satisfaction of
both EBITDA Milestones and Stock Price Milestones as described in more detail below.

Vesting. The Option is divided into four
(4) vesting tranches (each a “Tranche”), with each Tranche representing a portion of the Option covering
that number of Shares specified next to the applicable Tranche in the Milestone Table below. Each Tranche shall vest upon
the vesting date specified as applicable to the Tranche in the Milestone Table (each, an “Earliest Vesting Date”)
subject to all of the following: (a) the achievement of the EBITDA Milestone applicable to the Tranche in the Milestone Table
during the EBITDA Measurement Period (as defined below) (each, an “EBITDA Milestone”), (b) the achievement
of the Stock Price Milestone applicable to the Tranche in the Milestone Table during the Stock Price Measurement Period
(as defined below) (each, a “Stock Price Milestone”) (the EBITDA Milestones and the Stock Price Milestones,
collectively, the “Milestones”), (c) Participant continuing as the Chief Executive Officer through the Earliest
Vesting Date applicable to the Tranche in the Milestone Table and (d) the Certification (as defined below) of the Milestones
by the Board of Directors of the Company (the “Board”) or the Board’s Compensation Committee (the “Compensation
Committee”). Any Milestone may be met before, at or after the applicable Earliest Vesting Date for that Tranche provided
that the Milestone is met during its applicable Measurement Period.

    	 	1	 

     

    

Milestone Table 

	Tranche	Number of Shares	
        EBITDA Milestone

        ($M)
	Stock Price Milestone	Earliest Vesting Date
	
        1

        “Tranche One”
	
        750,000

        “Tranche One Shares”
	

                                                                                 

                                                                                $10
	

                                                                                 

                                                                                $15
	
        July 1, 2019

        “Tranche One Earliest Vesting Date”

	
        2

        “Tranche Two”
	
        750,000

        “Tranche Two Shares”
	

                                                                                

                                                                                $60
	

                                                                                 

                                                                                $20
	
        July 1, 2020

        “Tranche Two Earliest Vesting Date”

	
        3

        “Tranche Three”
	
        750,000

        “Tranche Three Shares”
	

                                                                                 

                                                                                $80
	

                                                                                 

                                                                                $25
	
        July 1, 2021

        “Tranche Three Earliest Vesting Date”

	
        4

        “Tranche Four”
	
        1,000,000

        “Tranche Four Shares”
	

                                                                                 

                                                                                $100
	

                                                                                 

                                                                                $30
	
        July 1, 2022

        “Tranche Four Earliest Vesting Date”

In the event that either the EBITDA Milestone
or the Stock Price Milestone is not yet achieved for a Tranche, no Shares attributable to such Tranche will be eligible to vest
on such Tranche’s Earliest Vesting Date; provided, however, the EBITDA Milestones will remain eligible to be achieved during
the remaining EBITDA Measurement Period and the Stock Price Milestones will remain eligible to be achieved during the remaining
Stock Price Measurement Period (both as defined below).

Any portion of the Option that does not vest
(i) on or prior to the end of the EBITDA Measurement Period and the Stock Price Measurement Period, as applicable, or (ii) prior
to Participant’s termination as Chief Executive Officer (except in connection with a Change of Control (as defined below)
as set forth in Section IV below) shall immediately terminate.

For clarity, as set forth above, upon the achievement
of both the applicable EBITDA Milestone and Stock Price Milestone for a Tranche, the Shares attributable to such Tranche (the “Unvested
Achieved Options”) may vest only if Participant remains the Chief Executive Officer on the applicable Earliest Vesting
Date for such Tranche (except in connection with a Change of Control as set forth in Section IV below).

More than one Tranche may vest simultaneously
provided that: the Earliest Vesting Date for each applicable Tranche has occurred, the requisite EBITDA Milestone and Stock Price
Milestone for each applicable Tranche have been met and Participant continued as the Chief Executive Officer through the applicable
date of vesting. For example, assume that (i) either or both of the Milestones for the First Tranche were not achieved on or prior
to the Tranche One Earliest Vesting Date, (ii) all of the Milestones for Tranche One, Tranche Two and Tranche Three were achieved
on or prior to the Tranche Two Earliest Vesting Date, then, (x) subject to Participant remaining the Chief Executive Officer through
the Tranche Two Earliest Vesting Date, both Tranche One and Tranche Two will become vested on the Tranche Two Earliest Vesting
Date and (y) subject to Participant remaining the Chief Executive Officer through the Tranche Three Earliest Vesting Date, Tranche
Three will become vested on the Tranche Three Earliest Vesting Date.

    	 	2	 

     

    

Certification. Achievement of the Milestones
for each Tranche shall be determined, approved and certified by the Board or the Compensation Committee, in its sole, good faith
discretion (a “Certification” and the date of such Certification, the “Certification Date”).
Separate Certifications may occur on separate dates with respect to the achievement of each of EBITDA Milestone and Stock Price
Milestone that are required for the vesting of any particular Tranche.

Term; Expiration. The maximum term of
the Option shall be ten (10) years unless earlier terminated as set forth herein, and the Option shall expire automatically
on the Expiration Date specified above (without regard to whether any or all of the Option vested or whether Participant exercised
any vested part of the Option).

		II.	Determination of EBITDA Milestone

The EBITDA Milestone for a Tranche is achieved
if the Company’s EBITDA (as defined below) equals or exceeds the EBITDA threshold amount set forth in the Milestone Table
for such Tranche for any fiscal year during the EBITDA Measurement Period. The Committee will measure and certify the level
of achievement of the EBITDA Milestones as of the end of each fiscal year within the EBITDA Measurement Period.

		A.	For purposes of this Option, “EBITDA” shall mean the Company’s net (loss)
income attributable to common stockholders for the relevant year as determined in accordance with U.S. Generally Accepted Accounting
Principles (“GAAP”) and as reported by the Company in its audited financial statements on the Form 10-K filed
with the SEC, for the applicable fiscal year during the EBITDA Measurement Period plus interest expense (benefit), provision for
income taxes, depreciation and amortization for the same year as reflected in the audited financial statements. For the avoidance
of doubt, there will be no adjustment to the reported net (loss) for stock based compensation in determining EBITDA.

		B.	For purposes of this Option, “EBITDA Measurement Period” shall mean the period
starting January 1, 2018 and ending December 31, 2021.

		C.	In the event of unusual non-recurring events such as acquisition activities or divestitures of
significant assets or changes in applicable accounting rules, as a result of which the calculation of the Company’s EBITDA
for any EBITDA Measurement Period is increased or decreased by 10% or more in determining the Company’s financial statements
on Form 10-K filed with the SEC for the most recently completed fiscal year, the Board or, if the Board delegates authority to
the Compensation Committee, the Compensation Committee may provide for one or more equitable adjustments to the EBITDA Milestones
to preserve the original intent regarding the EBITDA Milestones at the time of the initial award grant.

		III.	Determination of Stock Price Milestone

The Stock Price Milestone for a Tranche is
achieved if the both the 180-Day Average Stock Price (as defined below) and the 30-Day Average Stock Price (as defined below)
equal or exceed the price set forth in the Milestone Table for such Tranche during the Stock Price Measurement Period.
The Committee will measure and certify the level of achievement of the Stock Price Milestone during the Stock Price Measurement
Period as described below.

    	 	3	 

     

    

		A.	For purposes of this Option, “180-Day Average Stock Price” shall mean for each
applicable Tranche, the average of the daily closing prices of the Company’s common stock on the Nasdaq Global Select Market
for any one hundred and eighty (180)-consecutive day period (x) starting at any time after the last day of the fiscal year in which
the applicable EBITDA Milestone was achieved and (y) ending on or prior to the final day of the Stock Price Measurement Period.

		B.	For purposes of this Option, “30-Day Average Stock Price” shall mean for each
applicable Tranche, the average of the daily closing prices of the Company’s common stock on the Nasdaq Global Select Market
for a thirty (30)-consecutive day period ending on the date on which the 180-Day Average Stock Price is achieved for the applicable
Tranche, but in any event on or prior to final day of the Stock Price Measurement Period.

		C.	For purposes of this Option, “Stock Price Measurement Period” shall mean the
period starting January 1, 2018 and ending December 31, 2022.

		D.	If the event of a stock dividend, recapitalization, stock split, reverse stock split, subdivision,
combination, reclassification or similar change in the capital structure of the Company, without consideration, the Board or the
Compensation Committee, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made
available under the Option (and in a manner that will not provide Participant with any greater benefit or potential benefits than
intended to be made available under the Option, other than as may be necessary solely to reflect changes resulting from any such
aforementioned event), will adjust the Stock Price Milestones.

		IV.	Vesting Determination upon Change of Control of the Company 

Calculation of Milestones upon Change of
Control. Notwithstanding Sections I, II and III above, in the event of a Change of Control (as defined in the Company’s
Executive Severance Plan, adopted November 6, 2013, and Participant’s related Participation Agreement thereunder (together,
the “Severance Plan”)), for purposes of determining whether any Tranches are eligible to vest on or after the
Change of Control, the EBITDA Milestones shall be disregarded and only the Stock Price Milestones shall be required to be met as
determined pursuant to this Section IV.

In the event of a Change of Control, a Stock
Price Milestone relating to any Tranche that has not yet vested pursuant to Section I above as of immediately before the closing
of the Change of Control, shall be achieved if the per Share price (plus the per Share value of any other consideration) received
by the Company’s stockholders in the Change of Control equals or exceeds the price set forth in the Milestone Table for
the relevant Stock Price Milestone, and the Shares specified for any such Tranche will be eligible to vest pursuant to the time-based
vesting schedule set forth below (the “COC Time-Based Options”). To the extent a Stock Price Milestone is not
achieved as a result of the Change of Control pursuant to the preceding sentence, the corresponding Tranche of Shares will be forfeited
automatically as of the immediately prior to closing of the Change of Control and never shall become vested.

    	 	4	 

     

    

Vesting Requirements Upon Change of Control.
Subject to Participant’s remaining the Chief Executive Officer, (i) the COC Time-Based Options for Tranche One, if any, will
vest on the later of the Tranche One Earliest Vesting Date and the closing date of the Change of Control (the “Closing
Date”); (ii) the COC Time-Based Options for Tranche Two, if any, will vest on the later of the Tranche Two Earliest Vesting
Date and the Closing Date; (iii) the COC Time-Based Options for Tranche Three, if any, will vest on the later of the Tranche Three
Earliest Vesting Date and the Closing Date and (iv) the COC Time-Based Options for Tranche Four, if any, will vest on the later
of the Tranche Four Earliest Vesting Date and the Closing Date. Notwithstanding the foregoing, in the event the Participant’s
employment as Chief Executive Officer terminates as a result of an Involuntary Termination (as defined in Participant’s Severance
Plan) at any time within the period beginning three (3) months before a Change of Control and ending twelve (12) months after a
Change of Control, the unvested Achieved Options and COC Time-Based Options shall be eligible for accelerated vesting as provided
in the Participant’s Severance Plan subject to Participant’s satisfaction of all terms and conditions in the Severance
Plan, including, but not limited to delivery of a release of claims. If the Participant’s employment as Chief Executive Officer
terminates as a result of an Involuntary Termination prior to a Change of Control, any then-unvested portion of the Option that
would otherwise forfeit upon such termination shall remain outstanding, but cease to continue vesting, for three (3) months following
such termination (provided that in no event will the Option remain outstanding beyond the expiration of its maximum term) to permit
the acceleration described above. In the event that a Change in Control is not completed during such three (3) month period, any
unvested portion of the Option will be automatically and permanently forfeited without having vested effective three (3) months
following such termination. For the avoidance of doubt, the accelerated vesting provisions of the Severance Plan apply only upon
a Change of Control and apply only to the Unvested Achieved Options and COC Time-Based Options.

Non-Assumption upon Change of Control.
Notwithstanding anything to the contrary, if the successor or acquiring corporation (if any) of the Company refuses to assume,
convert, replace or substitute the Option in connection with a Change of Control, then notwithstanding any other provision in this
Agreement, the Plan or the Severance Plan to the contrary, 100% of Participant’s COC Time-Based Options shall accelerate
and become vested effective immediately prior to the Change of Control.

		V.	Termination as Chief Executive Officer

Notwithstanding anything to the contrary in
this Agreement, the Severance Agreement Plan or any other agreement, upon Participant’s termination as the Chief Executive
Officer (except in connection with a Change of Control as set forth in Section IV above), any then-unvested portion of the Option
will automatically terminate.

If, upon Participant’s termination as
the Chief Executive Officer, Participant continues as an Employee of the Company, and so long as Participant continues as an Employee
of the Company, any vested and unexercised portion of the Option may be exercised until the Expiration Date of the Option.

If Participant ceases to be an Employee for
any reason, this Option may, to the extent vested as of the date of Participant’s cessation as an Employee, be exercised
during the time periods set forth in the Agreement, but in no event later than the Expiration Date of the Option.

		VI.	Award Subject to Company Clawback or Recoupment

In the event that the Company determines at
any time between the Date of Grant set forth in the Notice and December 31, 2025 that it is required to prepare a material accounting
restatement resulting from material noncompliance with financial reporting requirements under applicable law (a “financial
restatement”), and any of the Milestones that were previously Certified as achieved are subsequently
determined to have not been achieved as a result of a financial restatement, the Tranches of the Option that vested as a result
of the Certification will be subject to recoupment. In such case, Participant will be required to forfeit, reimburse or
repay any portion of the Option that vested based on the original financial statement as compared
to the Option that would have vested based on the financial restatement. For purposes of this compensation recovery by the Company:
(a) if the Option, or a portion of the Option, is held at the time of recovery, the recoverable amount shall be the number Shares
subject to the Option that vested in in excess of the number that should have been vested based on the financial restatement; (b)
if the Option, or a portion of the Option, has been exercised, but the underlying Shares have not been sold, the recoverable amount
shall be the number of Shares underlying the Option in excess of the number of Shares that should have been vested and exercisable
based on the financial restatement; and (c) if Shares have been sold, the recoverable amount shall be the sale proceeds received
by Participant in respect of the excess number of Shares underlying the Option in excess of the number of Shares that should have
been vested and exercisable based on the financial restatement. In all cases, the determination of amounts to be recovered shall
be calculated net of any taxes paid.

    	 	5	 

     

    

In addition to the Company’s right to
repayment pursuant to the preceding paragraph, the Option shall also be subject to clawback or recoupment pursuant to any compensation
clawback or recoupment policy adopted by the Board as required by law during the term of Participant’s employment or other
Service that is applicable to Participant. In addition to any other remedies available under such policy, applicable law may require
the cancellation of Participant’s Option (whether vested or unvested) and the recoupment of any gains realized with respect
to Participant’s Option.

		VII.	Exercise Method; Holding Period

Notwithstanding anything to the contrary in
this Notice, the Agreement or the Plan, payment of the aggregate exercise price and any tax withholding obligations, may be paid
only by any of the following, or a combination thereof, unless the Board or the Compensation Committee determines otherwise: (i)
cash; (ii) check or (iii) a “broker-assisted” or “same-day sale” (as described in Section 11(d) of the
Plan).

Participant must retain and may not sell, transfer
or dispose at least fifty percent (50%) of the Shares acquired upon exercise of the Option net of any shares sold in a same-day
sale to pay the exercise price and any tax withholding obligations as described above until after the second (2nd) year
anniversary of the applicable date of exercise of such Shares; provided, however, that the Participant may conduct transactions
that involve merely a change in the form in which Participant owns such Shares (e.g., transfer Shares to a revocable inter
vivos trust for which Participant is the trustee and sole beneficiary during Participant’s lifetime) as permitted by
the Board or the Compensation Committee consistent with the Company’s internal policies.

		VIII.	Acceptance of Option 

By
Participant’s acceptance of this Agreement either electronically through the electronic acceptance procedure established
by the Company or through a written acceptance delivered to the Company in a form satisfactory to the Company, Participant agrees
that this Option is granted under and governed by the terms and conditions of this Notice, Agreement and the Plan, all of which
are made a part of this document. Participant confirms that he has reviewed this Agreement in its entirety, has had an opportunity
to obtain the advice of counsel prior to executing this Agreement and fully understands all provisions of the Agreement. Participant
understand that his employment or service with the Company is for an unspecified duration, can be terminated at any time (i.e.,
is “at-will”), and that nothing in this Notice, the Agreement or the Plan changes the at-will nature of that relationship.
Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Board or the Compensation
Committee upon any questions relating to the Agreement. Participant further agrees to notify the Company upon any change in the
residence address indicated on the Notice.

 

Amyris, INC.

By: /s/ Christine Ofori

Name: Christine Ofori

Title:  Chief People Officer

    	 	6	 

     

    

Agreed and Accepted By PARTICIPANT:

By: /s/ John Melo

Name: John Melo

Title: President and Chief Executive Officer

 

 

 

 

 

    	 	7	 

     

    

AMYRIS, INC. 

2010 EQUITY INCENTIVE PLAN 

PERFORMANCE STOCK OPTION AWARD AGREEMENT 

Unless otherwise defined in this Performance
Stock Option Award Agreement (the “Agreement”), any capitalized terms used herein shall have the meaning
ascribed to them in the Amyris, Inc. (the “Company”) 2010 Equity Incentive Plan (the “Plan”).

Participant has been granted an option to purchase
Shares (the “Option”), subject to the terms and conditions of the Plan, the Notice of Stock Option Grant
(the “Notice”) and this Agreement. The Agreement incorporates the terms of the Notice and any reference
to Agreement will be deemed to also include the terms of the Notice. In the event of a conflict between the terms and conditions
of the Plan and the terms and conditions of this Agreement, the terms and conditions of the Plan shall prevail.

1.       Vesting
Rights. Subject to the applicable provisions of the Plan and this Agreement, this Option may be exercised, in whole or
in part, in accordance with the schedule set forth in the Notice.

2.       Termination
Period.

(a)       General
Rule. Except as provided below, and subject to the Plan, this Option may be exercised for 3 months after termination of Participant’s
employment with the Company. In no event shall this Option be exercised later than the Expiration Date set forth in the Notice.

(b)       Death;
Disability. Unless provided otherwise in the Notice, upon the termination of Participant’s service to the Company by
reason of his or her Disability or death, or if a Participant dies within three months of the Termination Date, this Option may
be exercised for twelve months, provided that in no event shall this Option be exercised later than the Expiration Date set forth
in the Notice.

(c)       Cause.
Upon the termination of Participant’s employment by the Company for Cause, the Option shall expire on such date of Participant’s
Termination Date. For purposes of this Agreement, “Cause” shall be defined in the Plan.

3.       Grant
of Option. The Participant named in the Notice has been granted an Option for the number of Shares set forth in the Notice
at the exercise price per Share set forth in the Notice (the “Exercise Price”). This Option shall be
treated as a Nonqualified Stock Option (“NSO”).

4.       Exercise
of Option.

(a)       Right
to Exercise. This Option is exercisable during its term in accordance with the Vesting Schedule set forth in the Notice and
the applicable provisions of the Plan and this Agreement. In the event of Participant’s death, Disability, Termination for
Cause or other Termination, the exercisability of the Option is governed by the applicable provisions of the Plan, the Notice and
this Agreement.

(b)       Method
of Exercise. This Option is exercisable by delivery of an exercise notice (the “Exercise Notice”),
which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the
“Exercised Shares”), and such other representations and agreements as may be required by the Company
pursuant to the provisions of the Plan. The Exercise Notice shall be delivered in person, by mail, via electronic mail or facsimile
or by other authorized method to the Secretary of the Company or other person designated by the Company. The Exercise Notice shall
be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares. This Option shall be deemed to be exercised
upon receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price.

(c)       No
Shares shall be issued pursuant to the exercise of this Option unless such issuance and exercise complies with all relevant provisions
of law and the requirements of any stock exchange or quotation service upon which the Shares are then listed. Assuming such compliance,
for income tax purposes the Exercised Shares shall be considered transferred to the Participant on the date the Option is exercised
with respect to such Exercised Shares.

    	 	8	 

     

    

5.       Method
of Payment. Payment of the aggregate Exercise Price and any tax liability (as described in Section 8 below) shall be by
the methods set forth in the Notice.

6.       Non-Transferability
of Option. This Option may not be transferred in any manner other than by will or by the laws of descent or distribution
or court order and may be exercised during the lifetime of Participant only by the Participant unless otherwise permitted by the
Board or the Compensation Committee on a case-by-case basis. The terms of the Plan and this Agreement shall be binding upon the
executors, administrators, heirs, successors and assigns of the Participant.

7.       Term
of Option. This Option shall in any event expire on the expiration date set forth in the Notice, which date is 10 years
after the Date of Grant.

8.       U.S.
Tax Consequences. For Participants subject to U.S. income tax, some of the federal tax consequences relating to this Option,
as of the date of this Option, are set forth below. All other Participants should consult a tax advisor for tax consequences relating
to this Option in their respective jurisdiction. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT
TO CHANGE. THE PARTICIPANT SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE SHARES.

(a)       Exercising
the Option.

(i)       Nonqualified
Stock Option. The Participant may incur federal ordinary income tax liability upon exercise of a NSO. The Participant will
be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the Fair
Market Value of the Exercised Shares on the date of exercise over their aggregate Exercise Price. If the Participant is an Employee
or a former Employee, the Company will be required to withhold from his or her compensation an amount equal to the minimum amount
the Company is required to withhold for income and employment taxes or collect from Participant and pay to the applicable taxing
authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor
the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise.

(b)       Disposition
of Shares.

(i)       NSO.
If the Participant holds NSO Shares for at least one year, any gain realized on disposition of the Shares will be treated as long-term
capital gain for federal income tax purposes.

9.       Acknowledgement.
The Company and Participant agree that the Option is granted under and governed by the Notice, this Agreement and by the provisions
of the Plan (incorporated herein by reference). Participant: (i) acknowledges receipt of a copy of the Plan and the Plan prospectus,
(ii) represents that Participant has carefully read and is familiar with their provisions, and (iii) hereby accepts the Option
subject to all of the terms and conditions set forth herein and those set forth in the Plan and the Notice.

10.       Entire
Agreement; Enforcement of Rights. This Agreement, the Plan and the Notice constitute the entire agreement and understanding
of the parties relating to the subject matter herein and supersede all prior discussions between them. Any prior agreements, commitments
or negotiations concerning the purchase of the Shares hereunder are superseded. No modification of or amendment to this Agreement,
nor any waiver of any rights under this Agreement, shall be effective unless in writing and signed by the parties to this Agreement.
The failure by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such
party.

    	 	9	 

     

    

11.       Compliance
with Laws and Regulations. The issuance of Shares will be subject to and conditioned upon compliance by the Company and
Participant with all applicable state and federal laws and regulations and with all applicable requirements of any stock exchange
or automated quotation system on which the Company’s Common Stock may be listed or quoted at the time of such issuance or
transfer.

12.       Governing
Law; Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, the parties
agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable
replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of this Agreement
shall be interpreted as if such provision were so excluded and (iii) the balance of this Agreement shall be enforceable in accordance
with its terms. This Agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto
shall be governed, construed and interpreted in accordance with the laws of the State of California, without giving effect to principles
of conflicts of law.

13.       No
Rights as Employee, Director or Consultant. Nothing in this Agreement shall affect in any manner whatsoever the right or
power of the Company, or a Parent or Subsidiary of the Company, to terminate Participant’s service, for any reason, with
or without cause.

 

 

 

 

10

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