Document:

Amyris 2013 10-K Ex 10.26 EscrowAgreement12-02-13FINAL

	
					
	CONFIDENTIAL TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS DOCUMENT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND, WHERE APPLICABLE, HAVE BEEN MARKED WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE CONFIDENTIAL MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

	
		
	EXECUTION COPY

	Dated December 2, 2013

	Total Energies Nouvelles Activités USA
and
Amyris, Inc.
and
Stichting Total Amyris BioSolutions
(as Escrow Agent)

	ESCROW AGREEMENT
relating to shares in Total Amyris BioSolutions B.V.

	 
	 

	 
	 

	Linklaters LLP
World Trade Centre Amsterdam
Zuidplein 180
1077 XV Amsterdam
	 

	Telefoon (+31) 20 799 6200
	 

	Telefax (+31) 20 799 6300
	 

	 
	 

	Ref BJK/PS/L-201990
	 

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Table of Contents
Contents    Page
1    Definitions and interpretation    5
2    Appointment of Escrow Agent    7
3    Nature of Agreement    7
4    The Escrow Shares    7
5    Dividends and other distributions    8
6    The exercise of voting rights and other rights attributable to the Escrow Shares    9
7    Release of the Escrow Shares    10
8    Shift of entitlement related rights attributable to Escrow Shares    13
9    Rights and duties of the Escrow Agent    13
10    Power of attorney    14
11    Resignation and substitution of the Escrow Agent    14
12    Costs of transfer    14
13    Duration and Termination    15
14    Representations and warranties    15
15    The Notary    15
16    General provisions    15
Signature Page    21
Annex 1 - Deed of Pledge    21
Annex 2 - Deed of Transfer and Pledge    23
Annex 3 – Notice of Election    24
Annex 4 – Notice of Payment of Preferred Shares Option Price    25
Annex 5 – Rescission Notice    27
Annex 6 – Notice of Completion of Foreclosure Sale    28

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Annex 7 – Notice of Right of First Offer    31
Annex 8 – Power of Attorney JVCO    33
Annex 9 – Format Deed of Transfer    34
Annex 10 –SHA    35
Annex 11 – JVCO Articles of Association    36
Annex 12 – Escrow Agent Articles of Association    37
Annex 13 – Format power of attorney Escrow Agent to Amyris for exercising Voting Rights    38
Annex 14 – Notarial Deeds of Conditional Transfer    39
Annex 15 – Signatures specimen    40

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This escrow agreement (this “Agreement”) is made December 2, 2013 by and among: 

		
	(1)
	Total Energies Nouvelles Activités USA, a company incorporated under the laws of 

France (société par actions simplifiée), having its official seat (siège social) at 24 Cours 
Michelet, 92800 Puteaux, France, registered with the French Commercial Register (Registre 
du Commerce et des Sociétés, Greffe du Tribunal de Commerce de Nanterre) under 
number 505 028 118 (“TENA USA”);

		
	(2)
	Amyris, Inc., a corporation incorporated under the laws of Delaware, United States of 

America, having its registered office is at 5885 Hollis Street, Suite 100, Emeryville, CA 
94608, United States of America, registered with the Secretary of State of Delaware, United 
States of America, under number 4768633 (“Amyris”); and

		
	(3)
	Stichting Total Amyris BioSolutions, a foundation incorporated under the laws of 

the Netherlands (stichting), having its official seat (statutaire zetel) in Amsterdam, the 
Netherlands, and its office at Claude Debussylaan 24, 1082 MD Amsterdam, the 
Netherlands, registered with the Dutch Trade Register of the Chambers of Commerce under 
number 59329483 (the “Escrow Agent”),

(TENA USA, Amyris and the Escrow Agent jointly the “Parties” and each a “Party”).

Whereas:
		
	(A)
	TENA USA and Amyris are the sole shareholders of Total Amyris BioSolutions B.V., a private company with limited liability incorporated under the laws of the Netherlands (besloten vennootschap met beperkte aansprakelijkheid), having its official seat (statutaire zetel) in Amsterdam, the Netherlands, and its office at Claude Debussylaan 24, 1082 MD Amsterdam, the Netherlands, registered with the Dutch Trade Register of the Chambers of Commerce under number 59337494 (“JVCO”).

		
	(B)
	On the Closing Date (as defined hereinafter), TENA USA and Amyris entered into a Shareholders’ Agreement (the “SHA”) in respect of JVCO.

		
	(C)
	The JVCO Articles of Association (as defined hereinafter) have been established pursuant to JVCO’s deed of incorporation executed on the Closing Date. 

		
	(D)
	The Escrow Agent Articles of Association (as defined hereinafter) have been established pursuant to the Escrow Agent’s deed of incorporation executed on November 28, 2013.

		
	(E)
	On the Closing Date, Amyris granted a security interest in favor of TENA USA in all of its rights, title and interest in and to the Escrow Shares (as defined hereinafter), dividend rights, reversionary rights and other rights attached to the Escrow Shares, all as set forth in and by way of a pledge agreement executed as a notarial deed of pledge (the “Deed of Pledge”) by and between Amyris and TENA USA, and in the presence of and acknowledged by JVCO. A copy of the Deed of Pledge is attached hereto as Annex 1. 

		
	(F)
	TENA USA, Amyris and the Escrow Agent desire for the Escrow Shares to be legally transferred to the Escrow Agent and held in administration by the Escrow Agent in accordance with the terms and conditions set out in this Agreement.

		
	(G)
	The Parties desire to establish the terms and conditions pursuant to which the Escrow Shares will be administered by the Escrow Agent, including their respective rights and obligations in relation to the Escrow Shares, all as set forth in this Agreement.

IT IS AGREED AS FOLLOWS:

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	1
	Definitions and interpretation

		
	1.1
	Definitions

In this Agreement unless the context otherwise requires:
“Business Day” means any day other than (i) Saturday or Sunday, (ii) any day that is a legal holiday pursuant to the laws of the Netherlands, or (iii) any day that is a day on which banking institutions located in Amsterdam, the Netherlands, are authorized or required by law or governmental action to close.
“Class A Note” means the “Class A Secured Promissory Note”, dated as of the Closing Date, made by Amyris in favor of TENA USA in the original principal amount of fifty thousand euro (EUR 50,000).
“Class A Common Share” means the class A share issued by JVCO to Amyris numbered A1.
“Class B Common Share” means the class B share issued by JVCO to TENA USA numbered B1.
“Closing Date” means December 2, 2013, the date that the SHA was fully executed and delivered by Amyris and TENA USA, and JVCO has been duly incorporated. 
“Deed of Pledge” has the meaning as set out in Recital (E) above.
“Deed of Transfer and Pledge” has the meaning set out in Section 4.1.
“Escrow Agent Articles of Association” means the articles of association of the Escrow Agent, as amended from time to time.
“Escrow Shares” means the Class A Common Share and the Preferred Shares.
“JVCO” has the meaning as set out in Recital (A) above.
“JVCO Articles of Association” means the articles of association of JVCO, as amended from time to time.
“Notarial Deeds of Conditional Transfer” has the meaning set out in Section 7.6.
“Notary” means the civil law notary (notaris) [*] of Linklaters LLP, Amsterdam office, his deputy (waarnemer) or successor (opvolger) or such other Dutch civil law notary (notaris) as indicated by TENA USA.
“Notes” means those certain 1.5% “Senior Unsecured Convertible Notes” issued by Amyris to TENA USA pursuant to the Securities Purchase Agreement between July 30, 2012 and January 31, 2015, with an aggregate principal amount of up to US$105,000,000.
“Notice” means any of the notices the substantial form of which has been attached hereto as Annex.
“Notice of Completion of Foreclosure Sale” means the Notice of Completion of Foreclosure Sale duly executed by TENA USA substantially in the form attached hereto as Annex 6 (Notice of Completion of Foreclosure Sale). 
“Notice of Election” means the Notice of Election as defined in the JVCO Articles of Association, duly executed by TENA USA substantially in the form attached hereto as Annex 3 (Notice of Election). 

[*] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

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“Notice of Payment of Preferred Shares Option Price” means the Notice of Payment of Preferred Shares Option Price, duly executed by TENA USA substantially in the form attached hereto as Annex 4 (Notice of Payment of Preferred Shares Option Price).
“Notice of Purchase” means any of the Notice of Payment of Preferred Shares Option Price, Notice of Completion of Foreclosure Sale, or Notice of Right of First Offer.
“Notice of Right of First Offer” means the Notice of Right of First Offer duly executed by TENA USA substantially in the form attached hereto as Annex 7 (Notice of Right of First Offer).
“Preferred Shares” means the non-voting preferred shares issued by JVCO to Amyris numbered P1 and P2.
“Preferred Shares Option Price” means the purchase price for the Preferred Shares as established in accordance with the JVCO Articles of Association.
“Rescission Notice” means the Rescission Notice as defined in the JVCO Articles of Association, duly executed by TENA USA substantially in the form attached hereto as Annex 5 (Rescission Notice).
“Securities Purchase Agreement” means the “Securities Purchase Agreement” dated as of July 30, 2012 and amended as of March 24, 2013, by and between Amyris and TENA USA.
“SHA” has the meaning as set out in Recital (B) above.
“Voting Rights” has the meaning as set out in Section 6.1.
“Wholly Owned TENA Affiliate” means a person of which 100% of the equity interests (other than any directors’ qualifying shares) of such person are directly or indirectly owned by the ultimate parent company of TENA USA.
		
	1.2
	Words

		
	1.2.1
	Words denoting the singular number include the plural and vice versa.

		
	1.2.2
	Words denoting any gender include all genders and words denoting persons include firms and corporations and vice versa.

		
	1.2.3
	The words “include”, “includes” and “including” shall be deemed to be followed by the words “without limitation” and references to “other” and “otherwise” shall not be construed with reference to its preceding words where a wider interpretation is possible.

		
	1.3
	References

References to:
		
	1.3.1
	a person include any company, partnership or unincorporated association (whether or not having separate legal personality);

		
	1.3.2
	a company includes any company, corporation or any body corporate, wherever incorporated; and

		
	1.3.3
	the “Netherlands” or “Dutch” refer to the European part of the Netherlands only.

		
	1.4
	Legal terms

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Where in this Agreement a Dutch legal term is given in parenthesis after an English term and there is any inconsistency between the Dutch and the English term, the meaning of the Dutch legal term shall prevail. 
		
	1.5
	Recitals, Sections etc. 

References to this Agreement include its Annexes and references to Recitals, Sections, sub-Sections and Annexes are to Recitals, Sections and sub-Sections of, and Annexes to, this Agreement, unless explicitly provided otherwise in this Agreement.
		
	1.6
	Headings 

Headings are for ease of reference only and shall be ignored in construing this Agreement.
		
	2
	Appointment of Escrow Agent

		
	2.1
	TENA USA and Amyris hereby appoint the Escrow Agent to act as an escrow agent in accordance with the terms and conditions of this Agreement and the Escrow Agent hereby accepts such appointment. 

		
	2.2
	TENA USA and Amyris hereby acknowledge having received a copy of the Escrow Agent Articles of Association, a true, correct and complete copy of which is attached hereto as Annex 12 (Escrow Agent Articles of Association) and, to the extent required, accept all rights contained therein in their favor and undertake toward each other and the Escrow Agent to respect the terms and conditions of the Escrow Agent Articles of Association.

		
	3
	Nature of Agreement

This Agreement constitutes with respect to the Escrow Agent an instruction agreement (overeenkomst van opdracht) as referred to in Section 7:400 of the Dutch Civil Code and the relevant provisions of the Dutch Civil Code shall apply, unless explicitly otherwise provided in this Agreement. 
		
	4
	The Escrow Shares

		
	4.1
	On the Closing Date the Escrow Shares shall be transferred by Amyris to the Escrow Agent by way of administration (ten titel van beheer), the foregoing to be effected by execution of a notarial deed of transfer and pledge (the “Deed of Transfer and Pledge”) substantially in the form as attached hereto as Annex 2 (Deed of Transfer and Pledge) by Amyris, the Escrow Agent and JVCO before the Notary.

		
	4.2
	The Escrow Shares shall remain subject to the security interest of TENA USA pursuant to the Deed of Pledge. To the fullest extent possible under applicable law, by executing the Deed of Transfer and Pledge, the Escrow Agent assumes the obligations of Amyris in respect of the Escrow Shares pursuant to the Deed of Pledge, provided, however, that such assumption shall not release Amyris from its obligations under the Deed of Pledge. Notwithstanding the foregoing, Amyris shall retain all of its rights as a party to the SHA, none of which shall be assumed by the Escrow Agent as the legal owner of the Escrow Shares.

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	4.3
	The Escrow Agent agrees to administer and hold the Escrow Shares (subject to the security interest of TENA USA and with due observance of TENA USA’s purchase right of the Escrow Shares as set forth in the JVCO Articles of Association) in escrow for the benefit, risk and account of Amyris in accordance with the provisions of this Agreement, the JVCO Articles of Association and the SHA; the Escrow Agent hereby acknowledges having received copies of the SHA and the JVCO Articles of Association, true, correct and complete copies of which are attached hereto as Annex 10 (SHA) and Annex 11 (JVCO Articles of Association) and undertakes toward Amyris and TENA USA to respect the terms and conditions of the SHA and the JVCO Articles of Association. 

		
	4.4
	The Parties shall only hold and release the Escrow Shares in accordance with the provisions of this Agreement, the JVCO Articles of Association and the SHA. In the event of a conflict with respect to how the Escrow Shares are to be held and released by and between or among this Agreement, the JVCO Articles of Association and/or the SHA, this Agreement shall prevail over the JVCO Articles of Association and the SHA and the JVCO Articles of Association shall prevail over the SHA, in each case except as otherwise expressly provided in the Articles of Association or the SHA. 

		
	4.5
	Other than as explicitly set out in this Agreement, or when ordered by a Dutch court in a judgment in last instance (uitspraak in kracht van gewijsde) or provisionally enforceable (uitvoerbaar bij voorraad), the Escrow Agent shall be prohibited from selling, releasing or otherwise disposing, encumbering or transferring any of the Escrow Shares or the rights attributed thereto, nor shall the Escrow Agent allow the Escrow Shares to be taken, enjoined or reached by any foreign legal or equitable process, in bankruptcy or otherwise, without the prior written consent of both Amyris and TENA USA. In addition, the Escrow Agent recognizes and agrees that the Escrow Agent is the legal owner of the Escrow Shares, and as a consequence thereof, the Escrow Agent shall not recognize demands for turnover or enjoinment by Amyris, Amyris’s creditors, or Amyris’s trustee in bankruptcy, but rather shall carry out its duties hereunder. Notwithstanding the foregoing, Amyris shall retain all of its rights as a party to the SHA in accordance with the terms thereof, none of which shall be assumed by the Escrow Agent as the legal owner of the Escrow Shares.

		
	5
	Dividends and other distributions

		
	5.1
	Except as provided otherwise in this Agreement, the Escrow Agent shall collect all dividends, distributions of reserves, repayments of capital, liquidation, dissolution or sale proceeds and all other distributions, (re)payments and proceeds under or in connection with the Escrow Shares it holds in administration.

		
	5.2
	Provided that the Escrow Agent has not received a Notice of Election, the Escrow Agent shall make the dividends and other distributions and proceeds collected pursuant to Section 5.1 in respect of the Class A Common Share payable to Amyris and provided that the Escrow Agent has not received a Notice of Purchase, the Escrow Agent shall make the dividends and other distributions and proceeds collected pursuant to Section 5.1 in respect of the Preferred Shares payable to Amyris, in each case as soon as possible upon receipt of such dividends and other distributions and proceeds by the Escrow Agent.

		
	5.3
	Provided that no Notice of Election has been received by the Escrow Agent, any and all shares, rights and other assets accruing, distributed, issued or offered at any time by way 

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of or resulting from redemption, repurchase, dividend, bonus, preference, pre-emption, conversion, capitalization of profits or reserves, substitution, exchange, warrant, claim or option right or otherwise and that are acquired by the Escrow Agent under or in connection with the Class A Common Share (including, for the avoidance of doubt, as a result of the conversion, merger or demerger of the JVCO) shall be acquired by the Escrow Agent for the benefit, risk and account of Amyris in accordance with this Escrow Agreement and provided that no Notice of Purchase has been received by the Escrow Agent, any and all shares, rights and other assets accruing, distributed, issued or offered at any time by way of or resulting from redemption, repurchase, dividend, bonus, preference, pre-emption, conversion, capitalization of profits or reserves, substitution, exchange, warrant, claim or option right or otherwise and that are acquired by the Escrow Agent under or in connection with the Preferred Shares (including, for the avoidance of doubt, as a result of the conversion, merger or demerger of the JVCO), shall be acquired by the Escrow Agent for the benefit, risk and account of Amyris in accordance with this Escrow Agreement.
		
	6
	The exercise of voting rights and other rights attributable to the Escrow Shares 

		
	6.1
	The Escrow Agent, being the legal owner of the Escrow Shares, shall exercise the voting rights, and consensual rights of a shareholder of JVCO attributable to the Escrow Shares and all other rights and powers of a shareholder of JVCO, in each case under the JVCO Articles of Association or pursuant to the laws of the Netherlands (together the “Voting Rights”) in accordance with its objects, without prejudice to the provisions below in this Section 6. Notwithstanding the foregoing, any right of Amyris as a party to the SHA to consent in its capacity as a party to the SHA in accordance with the terms thereof shall be retained by Amyris and shall not belong to the Escrow Agent as the legal owner of the Escrow Shares.

		
	6.2
	Provided that no Notice of Election has been received by the Escrow Agent, Amyris shall have the exclusive right to direct the Escrow Agent how the Voting Rights in respect of the Class A Common Share are to be exercised while they are held in escrow, and provided that no Notice of Purchase has been received by the Escrow Agent, Amyris shall have the exclusive right to direct the Escrow Agent how the Voting Rights in respect of the Preferred Shares are to be exercised while they are held in escrow, in each case in accordance with and subject to the terms of the JVCO Articles of Association and the SHA, and in each case Amyris shall do so by directing the Escrow Agent to exercise the Voting Rights in respect of the applicable Escrow Shares, and the Escrow Agent shall strictly and promptly comply with such instructions in all respects.

		
	6.3
	If a general meeting of JVCO is convened or if the Escrow Agent is requested or given the opportunity to exercise Voting Rights in relation to the Escrow Shares, the Escrow Agent shall, within three Business Days upon receipt by the Escrow Agent of the announcement of the general meeting, the relevant request or occurrence of the relevant opportunity (as the case may be), give written notice thereof to Amyris, which written notice shall, as applicable and to the extent received by the Escrow Agent, include a copy of the agenda for the general meeting, the request or a description of the matter in respect of Voting Rights may be exercised. 

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	6.4
	Each announcement of a general meeting of JVCO addressed to the Escrow Agent as a shareholder of JVCO, or written notification of JVCO to the Escrow Agent to exercise Voting Rights, shall automatically and without any further action by Amyris be deemed to constitute a written request by Amyris to the Escrow Agent to, and upon each such automatically deemed written request the Escrow Agent shall, grant a written power of attorney to Amyris to exercise the Voting Rights on the Escrow Shares and, if applicable, to attend and address the general meeting of JVCO on behalf of the Escrow Agent substantially in the form as set out in Annex 13 (Format power of attorney of Escrow Agent to Amyris for exercising Voting Rights). 

		
	6.5
	A power of attorney as meant in Section 6.4 may only be granted for a specific general meeting or share class meeting of JVCO or for a specific request or opportunity to exercise Voting Rights (including through a written consent rather than a meeting) and shall lose its validity at the end of that meeting or after the relevant Voting Rights have been exercised or the opportunity to exercise such Voting Rights has ended.

		
	6.6
	Upon the receipt by the Escrow Agent of a Notice of Election, unless otherwise explicitly provided therein by TENA USA, the rights of Amyris pursuant to this Section 6 with respect to the Class A Common Share shall automatically terminate and shall instead be held by TENA USA, and the Escrow Agent shall comply with all instructions provided by TENA USA relating to the exercise of Voting Rights in relation to the Class A Common Share. Upon the receipt by the Escrow Agent of a Notice of Purchase, unless otherwise explicitly provided therein by TENA USA, the rights of Amyris pursuant to this Section 6 with respect to the Preferred Shares shall automatically terminate and shall instead be held by TENA USA, and the Escrow Agent shall comply with all instructions provided by TENA USA relating to the exercise of Voting Rights in relation to the Preferred Shares.

		
	6.7
	The Escrow Agent shall not be liable for the voting behavior of Amyris or, following the receipt by the Escrow Agent of a Notice of Election (in the case of the Class A Common Share) or a Notice of Purchase (in the case of the Escrow Shares), TENA USA, or the consequences thereof, nor for the casting of a vote in accordance with a voting instruction that has been issued or the consequences thereof.

		
	7
	Release of the Escrow Shares

		
	7.1
	Release of the Class A Common Share to TENA USA Upon the Notice of Election

Immediately upon the receipt by the Escrow Agent of the Notice of Election, the Escrow Agent shall transfer all right, title and interest in and to the Class A Common Share to TENA USA. The Escrow Agent acknowledges that the payment of the purchase price for the Class A Common Share shall occur outside of the escrow by TENA USA’s offset against the full amounts owing under the Class A Note, and the Escrow Agent shall assume without inquiry that such offset has occurred upon its receipt of the Notice of Election. 
		
	7.2
	Release of the Preferred Shares to TENA USA Upon the Notice of Payment of Preferred Shares Option Price

Immediately upon the receipt by the Escrow Agent of the Notice of Payment of Preferred Shares Option Price, the Escrow Agent shall transfer all right, title and interest in and to the Preferred Shares to TENA USA. The Escrow Agent acknowledges that the payment of the 

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Preferred Shares Option Price shall occur outside of the escrow by TENA USA’s offset against the full amount of the obligations then outstanding under the Notes, after giving effect to acceleration, and the Escrow Agent shall assume without inquiry that such offset has occurred upon its receipt of the Notice of Payment of Preferred Shares Option Price. Notwithstanding the foregoing, to the extent the Notice of Payment of Preferred Shares Option Price provides that the Preferred Shares Option Price exceeds such obligations outstanding under the Notes, TENA USA shall wire payment of such excess amount as identified in the Notice of Payment of Preferred Shares Option Price to the account specified in Section 16.9 below as a condition to the release of the Preferred Shares to TENA USA, and the Escrow Agent shall then transfer the Preferred Shares to TENA USA, and thereafter, shall release such funds to and for the benefit of Amyris. 
		
	7.3
	Release of the Preferred Shares to Amyris Upon the Rescission Notice

Immediately upon the receipt by the Escrow Agent of the Rescission Notice, the Escrow Agent shall transfer all right, title and interest in and to the Preferred Shares to Amyris.
		
	7.4
	Release of the Escrow Shares Upon the Notice of Completion of Foreclosure Sale

Immediately upon the receipt by the Escrow Agent of the Notice of Completion of Foreclosure Sale, the Escrow Agent shall transfer all right, title and interest in and to the Escrow Shares to the party identified in such notice as the purchaser of the Escrow Shares (which party may be, for the avoidance of doubt, TENA USA). The Escrow Agent acknowledges that the terms and conditions for the foreclosure sale of the Escrow Shares shall be determined by the outcome of the foreclosure sale process, which outcome will be as specified by TENA USA in the Notice of Completion of Foreclosure Sale. The Escrow Agent acknowledges that if TENA USA is the purchaser at the foreclosure it will have paid the Preferred Shares Option Price outside of the escrow by its offset against the full amount of the obligations then outstanding under the Notes, after giving effect to acceleration, and the Escrow Agent shall assume without inquiry that such offset has occurred upon its receipt of the Notice of Completion of Foreclosure Sale. To the extent all right, title and interest in and to the Class A Common Share has not been transferred to TENA USA prior to such foreclosure sale, the Escrow Agent acknowledges and agrees that if TENA USA is the purchaser at the foreclosure sale, it will have paid the purchase price for such share by its offset against the full amount of the obligations then outstanding under the Class A Note, after giving effect to acceleration, and the Escrow Agent shall assume without inquiry that such offset has occurred upon its receipt of the Notice of Completion of Foreclosure Sale. The Escrow Agent shall assume without inquiry that the foreclosure sale process as described in the Notice of Completion of Foreclosure Sale has been duly completed and shall comply with the transfer of the Escrow Shares pursuant to the instructions in the Notice of Completion of Foreclosure Sale. Notwithstanding the foregoing, to the extent the Notice of Completion of Foreclosure Sale provides that TENA USA is the purchaser of the Escrow Shares and further provides that the Preferred Shares Option Price exceeds the full obligations outstanding under the Notes and, if applicable, the Class A Note, TENA USA shall wire payment of such excess amount as identified in the Notice of Completion of Foreclosure Sale to the account specified in Section 16.9 below as a condition to the release of the Preferred Shares to TENA USA, and the Escrow Agent shall then transfer the Preferred Shares to TENA USA, and thereafter, shall release such funds to and for the benefit of Amyris. To the extent the Notice of Completion of Foreclosure Sale provides that the purchaser of the Escrow Shares is anyone other than 

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TENA USA and that TENA USA has confirmed that it received full payment from such purchaser on account of its collateral, the Escrow Agent shall transfer the Escrow Shares to that purchaser. To the extent the Notice of Completion of Foreclosure Sale provides that the purchaser of the Escrow Shares is anyone other than TENA USA, and further provides that the purchase price exceeded the full amounts owing under the Notes and the Class A Note, and that TENA USA has confirmed that it received full payment from such purchaser on account of its collateral, the Escrow Agent shall transfer the Escrow Shares to that purchaser after such purchaser has wired the payment of the portion of the purchase price that exceeds the full amounts owing under the Notes and the Class A Note as specified in such notice to the account specified in Section 16.9 below, with the Escrow Agent to then release such funds to and for the benefit of Amyris.
		
	7.5
	Release of the Escrow Shares Upon Exercise of the Notice of Right of First Offer

Immediately upon the receipt by the Escrow Agent of the Notice of Right of First Offer, the Escrow Agent shall transfer all right, title and interest in and to the Escrow Shares to the party identified in such notice as the purchaser of the Escrow Shares (which party may be, for the avoidance of doubt, TENA USA). To the extent the Notice of Right of First Offer provides that the purchaser is TENA USA, the Escrow Agent acknowledges that the payment of the purchase price shall occur outside of the escrow by TENA USA’s offset against the full amount of the obligations then outstanding under the Notes and the Class A Note, after giving effect to acceleration, and the Escrow Agent shall assume without inquiry that such offset has occurred upon its receipt of the Notice of Right of First Offer. Notwithstanding the foregoing, to the extent the Notice of Right of First Offer provides that the purchase price exceeds such obligations outstanding under the Notes and the Class A Note, TENA USA shall wire payment of such excess amount as identified in the Notice of Right of First Offer to the account specified in Section 16.9 below as a condition to the release of the Escrow Shares to TENA USA, and the Escrow Agent shall then transfer the Escrow Shares to TENA USA, and thereafter, shall release such funds to and for the benefit of Amyris. If the Notice of Right of First Offer provides that the successful purchaser is anyone other than TENA USA, the Escrow Agent shall transfer the Escrow Shares to that purchaser after such party has wired the payment of the purchase price specified in such notice to the account specified in Section 16.9 below, with the Escrow Agent to then release such funds to and for the benefit of Amyris.
		
	7.6
	Conditional transfer Escrow Shares to TENA USA

As soon as possible after the transfer of the Escrow Shares to the Escrow Agent on the Closing Date, TENA USA, the Escrow Agent and JVCO shall execute the notarial deeds of conditional transfer (the “Notarial Deeds of Conditional Transfer”) before the Notary, substantially in the form attached hereto as Annex 14 (Notarial Deeds of Conditional Transfer) to effect the legal transfer of the Class A Common Share to TENA USA subject to the condition precedent (opschortende voorwaarde) of the delivery of the Notice of Election and the legal transfer of the Preferred Shares to TENA USA subject to the condition precedent of the delivery of the Notice of Payment of Preferred Shares Option Price.
		
	7.7
	Format deed of transfer Escrow Shares to TENA USA

Any transfer of Escrow Shares by the Escrow Agent to TENA USA pursuant to this Section 7 not already effected by way of the execution of the Notarial Deeds of Conditional Transfer, shall be effected by way of the execution of a notarial deed of transfer between TENA USA and the Escrow Agent (as the case may be, represented by TENA USA on the 

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basis of the power of attorney contained in Section 10) and, if requested by TENA USA, JVCO (as the case may be, represented by TENA USA on the basis of the power of attorney attached hereto as Annex 8 (Power of Attorney of JVCO)), substantially in the form attached hereto as Annex 9 (Format Deed of Transfer) before the Notary.
		
	7.8
	Release of the Escrow Shares upon joint instruction

The Parties agree that the Escrow Agent shall transfer all right, title and interest in and to all or any portion of the Escrow Shares to any designated person (which may include, for the avoidance of doubt, Amyris or TENA USA) upon TENA USA and Amyris jointly giving written notice thereof to the Escrow Agent, and the Escrow Agent shall comply with any further instruction(s) jointly provided therein.
		
	8
	Shift of entitlement related rights attributable to Escrow Shares

Immediately upon the receipt by the Escrow Agent of a Notice of Election (in the case of the Class A Common Share) or a Notice of Purchase (in the case of the Escrow Shares), the Escrow Agent shall cease to hold the applicable Escrow Shares for the benefit, risk and account of Amyris and shall instead hold the applicable Escrow Shares for the benefit, risk and account of TENA USA (or as otherwise explicitly provided by TENA USA in such notice), such that the rights of Amyris in respect of the applicable Escrow Shares pursuant to Sections 5 and 6 shall then terminate, with such rights to instead be held by TENA USA (or as otherwise explicitly provided in such notice). Except as otherwise described in Section 7.7, upon its receipt of the notices described in Section 7, the Escrow Agent shall immediately transfer the Escrow Shares in the form and manner as described in such Section and this Agreement shall terminate in accordance with Section 13 below.
		
	9
	Rights and duties of the Escrow Agent

		
	9.1
	The Escrow Agent may, without further inquiry, exclusively rely on any instrument or signature that has been signed and presented on behalf of Amyris or TENA USA by any person who is identified as acting on behalf of Amyris or TENA USA in Annex 15 (Signatures specimen), or shall be legally entitled to represent that particular Party in connection with this Agreement as evidenced by a statement of a partner of the law firm(s) referred to with respect to the relevant Party in Section 16.8 stating that the relevant signatory is authorized to represent that particular Party. Annex 15 may with respect to the persons identified by Amyris be amended by Amyris by means of a notification by Amyris to TENA USA and the Escrow Agent. Annex 15 may with respect to the persons identified by TENA be amended by TENA by means of a notification by TENA to Amyris and the Escrow Agent.

		
	9.2
	Under no circumstance will the Escrow Agent be held liable for the manner in which the Escrow Agent performs the obligations contained in this Agreement or for any actions in connection therewith, except in respect of damage directly resulting from fraud, gross negligence (grove schuld), willful misconduct (opzet) or seriously culpable conduct (ernstige verwijtbaarheid) on the part of the Escrow Agent or any of its directors, officers or employees.

		
	9.3
	To the fullest extent possible under the laws of the Netherlands, the Escrow Agent hereby undertakes towards TENA USA and Amyris to only apply for its own bankruptcy or a 

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suspension of payments if the Escrow Agent has given both TENA USA and Amyris one week upfront notice of its intention to do so, which notice shall specify the reason(s) for the bankruptcy or suspension of payments application, to allow either TENA USA or Amyris, each acting in its sole discretion and without any obligation to do so, to provide funding or any other form of support to the Escrow Agent to prevent the Escrow Agent from being declared bankrupt or a suspension of payments to be ordered, which funding or support shall not unreasonably be rejected by the Escrow Agent.
		
	10
	Power of attorney

		
	10.1
	The Escrow Agent hereby irrevocably appoints TENA USA to be its attorney (with full power of substitution), on its behalf and in its name or otherwise, upon the delivery of a Notice of Election (with respect to the Class A Common Share) or Notice of Purchase (with respect to the Escrow Shares) to the Escrow Agent, to do anything that the Escrow Agent is obliged to do under this Agreement with respect to the applicable Escrow Shares, including, for the avoidance of doubt, to appear in front of the Notary to execute notarial deeds of transfer to effect the transfer of the applicable Escrow Shares to TENA USA pursuant to Section 7 above.

		
	10.2
	In exercising its power of attorney TENA USA may act as counterparty to the Escrow Agent or act pursuant to a power of attorney granted by one of the other parties involved in the relevant acts (Selbsteintritt). 

		
	10.3
	In exercising its power of attorney, TENA USA shall not have the benefit of contractual limitations of liability afforded to the Escrow Agent.

		
	10.4
	TENA USA is under no obligation to exercise its rights referred to in this Section 10.

		
	11
	Resignation and substitution of the Escrow Agent 

		
	11.1
	The Escrow Agent may resign from its duties under this Agreement at any time by giving a written notice of resignation to each of Amyris and TENA USA, provided, however, that such resignation shall not become effective until after TENA USA has designated a new escrow agent, reasonably acceptable to Amyris, in writing who:

		
	11.1.1
	has agreed to act as Escrow Agent upon the resignation of the resigning Escrow Agent becoming effective;

		
	11.1.2
	has agreed to be bound by this Agreement; and

		
	11.1.3
	has been transferred and has accepted the Escrow Shares by way of administration. 

		
	11.2
	TENA USA and Amyris may replace the Escrow Agent by jointly giving written notice thereof to the Escrow Agent. This replacement shall only become effective if the provisions of Sections 11.1.1 through 11.1.3 of this Agreement have been taken into account.

		
	12
	Costs of transfer

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Any transfer or administration costs relating to a release or transfer of Escrow Shares pursuant to this Agreement shall be borne by TENA USA. The Escrow Agent will make reasonable efforts to limit these costs as much as possible.
		
	13
	Duration and Termination

		
	13.1
	This Agreement (except for this Section 13 and Sections 1 (Definitions and interpretation) and 16 (General Provisions)), shall terminate and cease to have effect upon the moment the Escrow Agent has duly transferred the entirety of the Escrow Shares to another person, and issued payment, if any, to Amyris, in each case in accordance with the provisions of Section 7 above, provided, however, that this Agreement shall remain in effect for so long as the Preferred Shares remain in escrow, it being understood that the Class A Common Share will be released prior to the release of the Preferred Shares should such release occur pursuant to Sections 7.1 and 7.2 above. 

		
	13.2
	If any transfer of Escrow Shares by the Escrow Agent to TENA USA pursuant to Section 7 above is cancelled, avoided or otherwise set aside:

		
	13.2.1
	such Escrow Shares shall remain to have been owned by the Escrow Agent; 

		
	13.2.2
	the termination of this Agreement will be deemed not to have taken place and the Agreement shall come back into existence in full force and effect; and 

		
	13.2.3
	claims of TENA USA pursuant to this Agreement deemed terminated or extinguished shall remain outstanding. 

		
	14
	Representations and warranties

Each Party hereby represents and warrants to each other Party that it has the power to enter into and perform, and has taken all necessary action to authorize its entry into and performance of, this Agreement.
		
	15
	The Notary

The Notary is a civil law notary holding office with Linklaters LLP, TENA USA’s legal adviser. The Parties hereby acknowledge that they have been informed of the existence of the Ordinance Containing Rules of Professional Conduct and Ethics (Verordening beroeps- en gedragsregels) of the Royal Professional Organisation of Civil Law Notaries (Koninklijke Notariële Beroepsorganisatie) and explicitly agree and acknowledge (i) that Linklaters LLP may advise and act on behalf of TENA USA with respect to this Agreement, and any agreements or any disputes related to or resulting from this Agreement, and (ii) that the Notary performs the acts referred to in Sections 4.1, 7.6 and 7.7.
		
	16
	General provisions

		
	16.1
	Waiver

		
	16.1.1
	Unless explicitly stated otherwise in this Agreement, the Parties waive their rights, if any, to annul, (partly) rescind, (partly) dissolve (ontbinden) or cancel this Agreement, or to request annulment, (partial) rescission, (partial) dissolution (ontbinding) or cancellation of this Agreement on the basis of Section 6:228 or Section 6:265 of the Dutch Civil Code.

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	16.1.2
	No failure of any Party to exercise, and no delay by it in exercising, any right shall operate as a waiver of that right, nor shall any single or partial exercise of any right preclude any other or further exercise of that right or the exercise of any other right. The rights provided in this Agreement are cumulative and not exclusive of any other rights (whether provided by law or otherwise). Any express waiver of any breach of this Agreement shall not be deemed to be a waiver of any subsequent breach.

		
	16.2
	Assignment or transfer

		
	16.2.1
	This Agreement shall be binding on and inure to the benefit of the Parties and their successors and permitted assigns. Amyris may not assign or transfer all or any part of its rights or obligations under this Agreement without the prior written consent of TENA USA, other than in accordance with the Deed of Pledge. TENA USA may not assign or transfer all or any part of its rights or obligations under this Agreement without the prior written consent of Amyris, provided, that TENA USA may assign or transfer its rights and obligations under this Agreement to a Wholly Owned TENA Affiliate in connection with a transfer of the Class B Common Share to such Wholly Owned TENA Affiliate.

		
	16.2.2
	Following an assignment or transfer of the rights and obligations of TENA USA under this Agreement to a Wholly Owned TENA Affiliate in accordance with Section 16.2.1, any reference to TENA USA in this Agreement shall be deemed to refer to the relevant Wholly Owned TENA Affiliate to whom TENA USA transferred or assigned such rights and obligations and the Escrow Agent Articles of Association shall be amended accordingly. In addition, as soon as possible following the assignment or transfer of the rights and obligations of TENA USA under this Agreement to a Wholly Owned TENA Affiliate in accordance with Section 16.2.1, TENA USA shall provide a written declaration to the Notary that the conditions precedent contained in the Notarial Deeds of Conditional Transfer can no longer by fulfilled and the Wholly Owned TENA Affiliate, the Escrow Agent and JVCO shall enter into new conditional deeds of transfer in respect of the Escrow Shares substantially in the form of the Notarial Deeds of Conditional Transfer. TENA USA hereby unconditionally and irrevocably guarantees to the Escrow Agent and Amyris the due and punctual performance by the relevant Wholly Owned TENA Affiliate of all obligations of the Wholly Owned TENA Affiliate under this Agreement and agrees that if and whenever the Wholly Owned TENA Affiliate defaults for any reason whatsoever in the performance of any of its obligations pursuant to this Agreement that TENA USA shall forthwith upon demand unconditionally perform (or procure the performance of) such obligations in the manner described in this Agreement. 

		
	16.3
	Further assurance

Each Party to this Agreement shall (i) cooperate with the others and execute and deliver to each of the others instruments and documents and take (and, where applicable, shall procure that any of their associated companies shall take) such other actions as may be reasonably requested from time to time in order to carry out the intended purpose of this Agreement; and (ii) shall use all reasonable endeavors to procure that any necessary third party shall execute such documents and do such acts and things as may reasonably be required in order to carry out the intended purpose of this Agreement.

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	16.4
	Invalidity and severance

		
	16.4.1
	If any provision in this Agreement shall be held to be illegal, invalid or unenforceable, in whole or in part, the provision shall apply with whatever deletion or modification is necessary so that the provision is legal, valid and enforceable and gives effect to the commercial intention of the Parties.

		
	16.4.2
	To the extent it is not possible to delete or modify the provision, in whole or in part, under Section 16.4.1, then such provision or part of it shall, to the extent that it is illegal, invalid or unenforceable, be deemed not to form part of this Agreement and the legality, validity and enforceability of the remainder of this Agreement shall, subject to any deletion or modification made under Section 16.4.1, not be affected.

		
	16.5
	Counterparts

This Agreement may be entered into in any number of counterparts, each of which when executed and delivered shall be an original but all of which taken together shall constitute one and the same instrument.
		
	16.6
	Costs

Unless this Agreement provides otherwise, all costs that a Party has incurred or must incur in preparing, concluding or performing this Agreement are for its own account. The fees and costs of the Notary will be paid by TENA USA.
		
	16.7
	Public Announcements

Sections 6.03 and 12.06 of the SHA shall apply mutatis mutandis to the Parties and shall be deemed to be incorporated into this Agreement.
		
	16.8
	Notices

Unless explicitly stated otherwise in this Agreement including the Annexes thereto, all notices, consents, waivers and other communications under this Agreement and the Escrow Agent Articles of Association, must be in writing in English and delivered by hand or sent by registered mail, express courier, fax, or e-mail to the appropriate addresses and numbers set out below (or to such addresses and numbers as a Party may notify to the other Parties from time to time, provided that a Notice to a Party can always be sent by e-mail). A notice shall be effective upon transmission and shall be deemed to have been received at the time of delivery (if delivered by hand, registered mail or express courier) or at the time of successful transmission (if delivered by fax or e-mail).
		
	16.8.1
	If to TENA USA:

Total Energies Nouvelles Activités USA 
24 Cours Michelet
92800 Puteaux
France
Attn:         [*], President
Fax. No.:     +[*]
e-mail:        [*]
with copies (which shall not constitute notice) to:

Wilson Sonsini Goodrich & Rosati
Professional Corporation
650 Page Mill Road

[*] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

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Palo Alto, CA 94304
United States of America
Attn:         [*]
[*]
Fax No.:     +1 [*]
e-mail:      [*]
[*]
and
Jones Day
555 California Street, 26th Floor
San Francisco, CA 94104-1500
United States of America
Attn:         [*]
Fax No.:     +1 [*]
e-mail:      [*]    
and
Linklaters LLP
World Trade Centre Amsterdam
Zuidplein 180
1077 XV Amsterdam
The Netherlands
Att:        [*]
Fax No.:     +[*]
e-mail:      [*]

		
	16.8.2
	If to Amyris:

Amyris, Inc.
5885 Hollis Street, Suite 100
Emeryville, CA 94608
United States of America
Attn:          General Counsel
Fax No.:     +1 [*]
e-mail:      [*]
with copies (which shall not constitute notice) to:
Shearman & Sterling LLP
Four Embarcadero Center, Suite 3800
San Francisco, CA 94111 – 5994
United States of America
Attn:         [*]
Fax No.:     +1 [*]
e-mail:      [*]
		
	16.8.3
	If to the Escrow Agent:

Stichting Total Amyris BioSolutions
Claude Debussylaan 24
1082 MD Amsterdam
The Netherlands
Attn:         {8}
Fax No.:     +[*]
e-mail:      [*]

[*] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

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	16.8.4
	if to JVCO (with a copy (which shall not constitute notice) to each of TENA USA and Amyris) to:

Total Amyris BioSolutions B.V.
Claude Debussylaan 24
1082 MD Amsterdam
The Netherlands
Attn:         [*]
Fax No.:     +[*]
e-mail:      [*]
		
	16.9
	Bank accounts

		
	16.9.1
	The following bank account shall be held in the name of the Escrow Agent for the receipt and distribution of the payments described in Sections 5 and 7 above:

[*]

		
	16.9.2
	Any amounts to be paid by the Escrow Agent to Amyris or TENA USA pursuant to this Agreement shall be made to a bank account notified by Amyris or TENA USA, as applicable, to the Escrow Agent.

		
	16.10
	Third party rights

Except as expressly stated in this Agreement, the terms of this Agreement may be enforced only by a Party or a Party's permitted assigns or successors. In the event any third party stipulation (derdenbeding) contained in this Agreement is accepted by any third party, such third party will not become a party to this Agreement.
		
	16.11
	Integration

This Agreement and the Articles of Association constitutes the entire agreement of the Parties, and together with the Related Agreements (as defined in the Articles of Association) constitutes the entire agreement of TENA USA and Amyris, in each case, with respect to the subject matter hereof and supersedes all prior agreements and undertakings, both written and oral, among the Parties with respect to the subject matter hereof. No warranty, representation, inducement, promise, understanding or condition not set forth or referred to in this Agreement or any of the Related Agreements has been made or relied upon by any Party with respect to the subject matter of this Agreement.
		
	16.12
	Amendment

This Agreement may not be modified, amended, altered or supplemented except upon the execution and delivery of a written agreement executed by each of the Parties hereto. 
		
	16.13
	Governing law and jurisdiction

		
	16.13.1
	This Agreement and any non-contractual obligations arising out of or in connection with it shall be governed by and construed in accordance with the laws of the Netherlands.

		
	16.13.2
	Any dispute arising out of or in connection with this Agreement and any non-contractual obligations arising out of this Agreement, including disputes concerning the existence and validity thereof, shall be subject to the exclusive jurisdiction in the first instance of the competent court in Amsterdam, the Netherlands, without prejudice to any right of appeal. Each of Amyris, TENA USA and the Escrow Agent 

[*] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

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irrevocably submits to the jurisdiction of such courts and waives any objection to proceedings in any such court on the ground of venue or on the ground that proceedings have been brought in an inconvenient forum.
This Agreement has been entered into on the date stated at the beginning of this Agreement.

(Signature pages follow)

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Signature Page

Total Energies Nouvelles Activités USA:
	
			
	 
	 
	 

	                  /s/
	 
	 

	By:  OTERO DEL VAL 
	 
	 

	Its:  Managing Director  
	 
	 

[Signature page Total Energies Nouvelles Activites USA - Escrow Agreement]

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Signature Page
Amyris, Inc.:
	
			
	 
	 
	 

	                  /s/
	 
	 

	By:   John Melo
	 
	 

	Its:     C.E.O.
	 
	 

[Signature page Amyris, Inc. - Escrow Agreement]

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Signature Page

Stichting Total Amyris BioSolutions:
By: SGG Escrow Services B.V.
Its: sole board member
	
			
	 
	 
	 

	                /s/
	 
	               /s/

	By:   H.M. van Dijk
	 
	By:   D.C. Tessers

	Its:    jointly authorised managing director
	 
	Its:    jointly authorised proxy holder

[Signature page Stichting Total Amyris BioSoultions - Escrow Agreement]

21

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Annex 1 - Deed of Pledge

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Annex 2 - Deed of Transfer and Pledge

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Annex 3 – Notice of Election

Attention: Stichting Total Amyris BioSolutions
Date: 

Notice of Election

Reference is made to that certain Escrow Agreement dated December 2, 2013 (the “Escrow Agreement”), among Total Energies Nouvelles Activités USA (“TENA USA”), Amyris, Inc. (“Amyris”), and Stichting Total Amyris BioSolutions (the “Escrow Agent”). 
This letter serves as TENA USA’s Notice of Election. Undefined capitalized terms shall have the meanings provided to those terms in the Escrow Agreement.
TENA USA hereby notifies the Escrow Agent that TENA USA has paid the full amount for the Class A Common Share by effecting a euro-for-euro offset against the full outstanding amount of the Class A Note. No further payment or consideration is due or owing with respect to the Class A Common Share.
Immediately upon its receipt of this Notice of Election, the Escrow Agent shall cause the transfer of the Class A Common Share to TENA USA in a manner such that all right, title and interest therein shall be held by TENA USA, and the Escrow Agent shall cease taking direction from Amyris regarding the voting of the Class A Common Share, or otherwise, and all attributes with respect to such share shall immediately be held by TENA USA.

Total Energies Nouvelles Activités USA

BY:         _________________________
NAME:     _________________________
ITS:         Duly Authorized Representative

cc:    Amyris, Inc., via e-mail (generalcounsel@amyris.com)
Total Amyris BioSolutions B.V. via email (registers@sgggroup.com)

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Annex 4 – Notice of Payment of Preferred Shares Option Price 

Attention: Stichting Total Amyris BioSolutions
Date:

Notice of Payment of Preferred Shares Option Price

Reference is made to that certain Escrow Agreement dated December 2, 2013 (the “Escrow Agreement”), among Total Energies Nouvelles Activités USA (“TENA USA”), Amyris, Inc. (“Amyris”), and Stichting Total Amyris BioSolutions (the “Escrow Agent”). 

This letter serves as TENA USA’s Notice of Payment of Preferred Shares Option Price. Undefined capitalized terms shall have the meanings provided to those terms in the Escrow Agreement.

Alternative 1: This language is to be included if the Preferred Shares Option Price is less than or equal to the outstanding amounts owing on the Notes.
TENA USA hereby notifies the Escrow Agent that the Preferred Shares Option Price is US$ ________1 and that TENA USA has paid the full amount of the Preferred Shares Option Price by effecting a dollar-for-dollar offset against the full outstanding amount of the Notes. No further payment or consideration is due or owing with respect to the Preferred Shares Option Price.

Immediately upon its receipt of this Notice of Payment of Preferred Shares Option Price, the Escrow Agent shall cause the transfer of the Preferred Shares to TENA USA in a manner such thatall right, title and interest therein shall be held by TENA USA, including without limitation all attributes with respect to such shares, and the Escrow Agent shall thereafter close the escrow and terminate the Escrow Agreement pursuant to the terms of the Escrow Agreement.

- or –

Alternative 2: This language is to be included if the Preferred Shares Option Price exceeds the outstanding amounts owing on the Notes.
TENA USA hereby notifies the Escrow Agent that the Preferred Shares Option Price is US$ _________2 and that such price exceeded the full amounts outstanding under the Notes by US$________3. On even date hereof TENA USA has wired such excess amount to the account identified in Section 16.9 of the Escrow Agreement, and has offset the balance owed on the Preferred Shares Option Price by effecting a dollar-for-dollar offset against the full outstanding amounts owing under the Notes. No further payment or consideration is due or owing with respect to the Preferred Shares Option Price.

Immediately upon Escrow Agent’s confirmation of its receipt of such wire, Escrow Agent shall cause the transfer of the Preferred Shares to TENA USA in a manner such that all right, title and interest therein shall be held by TENA USA, including without limitation all attributes with respect to such shares, and the Escrow Agent shall thereafter wire to Amyris the amount received, close the escrow and terminate the Escrow Agreement pursuant to the terms of the Escrow Agreement.

-----------------------------

1Note to Escrow Agent: TENA to insert without inquiry into the validity of such amount by Escrow Agent.
2Note to Escrow Agent: TENA to insert without inquiry into the validity of such amount by Escrow Agent.
3Note to Escrow Agent: TENA to insert without inquiry into the validity of such amount by Escrow Agent.

Total Energies Nouvelles Activités USA

BY:         _________________________
NAME:         _________________________
ITS:         Duly Authorized Representative

cc:    Amyris, Inc., via e-mail ([*])
Total Amyris BioSolutions B.V. via email ([*])

[*] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Annex 5 – Rescission Notice 

Attention: Stichting Total Amyris BioSolutions
Date:

Rescission Notice

Reference is made to that certain Escrow Agreement dated December 2, 2013 (the “Escrow Agreement”), among Total Energies Nouvelles Activités USA (“TENA USA”), Amyris, Inc. (“Amyris”), and Stichting Total Amyris BioSolutions (the “Escrow Agent”).
This letter serves as TENA USA’s Rescission Notice. Undefined capitalized terms shall have the meanings provided to those terms in the Escrow Agreement.
Immediately upon its receipt of this Rescission Notice, the Escrow Agent shall cause the transfer of the Preferred Shares to Amyris, and Escrow Agent shall cease taking direction from TENA USA regarding such shares, and all attributes with respect to such Preferred Shares shall immediately be held by Amyris, and the Escrow Agent shall close the escrow and terminate the Escrow Agreement pursuant to the terms of the Escrow Agreement.

Total Energies Nouvelles Activités USA

BY:         _________________________
NAME:     _________________________
ITS:         Duly Authorized Representative

cc:      Amyris, Inc. via e-mail ([*])
Total Amyris BioSolutions B.V. via email ([*])

[*] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Annex 6 – Notice of Completion of Foreclosure Sale 

Attention: Stichting Total Amyris BioSolutions
Date:

Notice of Completion of Foreclosure Sale

Reference is made to that certain Escrow Agreement dated December 2, 2013 (the “Escrow Agreement”), among Total Energies Nouvelles Activités USA (“TENA USA”), Amyris, Inc. (“Amyris”), and Stichting Total Amyris BioSolutions (the “Escrow Agent”). 

This letter serves as TENA USA’s Notice of Completion of Foreclosure Sale. Undefined capitalized terms shall have the meanings provided to those terms in the Escrow Agreement.

Alternative 1: This language is to be included if the Preferred Shares Option Price is less than or equal to the outstanding amounts owing on the Notes and the Class A Note.
TENA USA hereby notifies the Escrow Agent that TENA USA has exercised its remedies as a secured creditor under the Deed of Pledge by foreclosing on the Class A Common Share and the Preferred Shares4, and was the purchaser of such shares at the foreclosure sale by paying the entirety of the foreclosure sale price for the Class A Common Share and the Preferred Shares by effecting a dollar-for-dollar or euro-for-euro, as appropriate, offset against the full outstanding amounts owing under the Notes and the Class A Note. No further payment or consideration is due or owing with respect to the Class A Common Share or the Preferred Shares. 

Immediately upon its receipt of this Notice of Completion of Foreclosure of Sale, the Escrow Agent shall cause the transfer of the Class A Common Share and the Preferred Shares to TENA USA in a manner such that all right, title and interest therein shall be held by TENA USA, including without limitation all attributes with respect to such shares, and the Escrow Agent shall cease taking direction from Amyris regarding the voting of the Class A Common Share, or otherwise, and the Escrow Agent shall thereafter close the escrow and terminate the Escrow Agreement pursuant to the terms of the Escrow Agreement.
- or –
Alternative 2: This language is to be included if the Preferred Shares Option Price exceeds the outstanding amounts owing on the Notes and the Class A Note.
TENA USA hereby notifies the Escrow Agent that TENA USA has exercised its remedies as a secured creditor under the Deed of Pledge by foreclosing on the Class A Common Share and the Preferred Shares, and was the purchaser of such shares at the foreclosure sale by paying the entirety of the foreclosure sale price for the Class A Common Share and the Preferred Shares by effecting a dollar-for-dollar or euro-for-euro, as appropriate, offset against the full outstanding amounts owing under the Notes and the Class A Note, and by paying the balance of the purchase price in the amount of US$ _______ by wiring such amount to the account identified in Section 
------------------------------------
4Note to Escrow Agent: The language throughout this Notice may be modified by TENA to refer to only the Preferred
Shares to the extent TENA takes delivery of ownership in and to the Class A Common Share outside of the foreclosure 
such that the foreclosure sale is limited to the Preferred Shares only.
5Note to Escrow Agent: TENA to insert without inquiry into the validity of such amount by Escrow Agent.

16.9 of the Escrow Agreement. No further payment or consideration is due or owing with respect to the Class A Common Share or the Preferred Shares. 

Immediately upon Escrow Agent’s confirmation of its receipt of such wire, the Escrow Agent shall cause the transfer of the Class A Common Share and the Preferred Shares to TENA USA in a manner such that all right, title and interest therein shall be held by TENA USA, including without limitation all attributes with respect to such shares, and the Escrow Agent shall cease taking direction from Amyris regarding the voting of the Class A Common Share, or otherwise, and the Escrow Agent shall thereafter wire to Amyris the amount received, close the escrow and terminate the Escrow Agreement pursuant to the terms of the Escrow Agreement.

- or –

Alternative 3: This language is to be included if a party other than TENA USA or a Wholly Owned TENA Affiliate is the purchaser at the foreclosure sale, and the purchase price is equal to or less than the Preferred Shares Option Price.

TENA USA hereby notifies the Escrow Agent that TENA USA has exercised its remedies as a secured creditor under the Deed of Pledge by foreclosing on the Class A Common Share and the Preferred Shares. [THIRD PARTY PURCHASER]6 was the purchaser of such shares at the foreclosure sale at an amount that was less than the Preferred Shares Option Price. TENA USA hereby confirms that it has received full payment from [THIRD PARTY PURCHASER] on account of its collateral. 

Immediately upon the Escrow Agent’s receipt of this Notice of Completion of Foreclosure Sale, the Escrow Agent shall cause the transfer of the Class A Common Share and the Preferred Shares to [THIRD PARTY PURCHASER], pursuant to instructions received by [THIRD PARTYPURCHASER] such that all right, title and interest therein shall be held by [THIRD PARTY PURCHASER], including without limitation all attributes with respect to such shares, and the Escrow Agent shall cease taking direction from Amyris regarding the voting of the Class A Common Share, or otherwise, and the Escrow Agent shall thereafter close the escrow and terminate the Escrow Agreement pursuant to the terms of the Escrow Agreement.
- or –

Alternative 4: This language is to be included if a party other than TENA USA or a Wholly Owned TENA Affiliate is the purchaser at the foreclosure sale, and the purchase price exceeds the amounts owing on the Notes and the Class A Note.

TENA USA hereby notifies the Escrow Agent that TENA USA has exercised its remedies as a secured creditor under the Deed of Pledge by foreclosing on the Class A Common Share and thePreferred Shares. [THIRD PARTY PURCHASER]7 was the purchaser of such shares at the foreclosure sale at an amount that exceeded the full outstanding amounts owing under the Notes and the Class A Note by US$___________ and/or EUR___________ respectively8. TENA USA hereby confirms that it has received full payment from [THIRD PARTY PURCHASER] on account of its collateral.

                                            

6Note to Escrow Agent: TENA to provide Escrow Agent with name of third party purchaser.

7Note to Escrow Agent: TENA to provide Escrow Agent with name of third party purchaser.

8Note to Escrow Agent: TENA to insert without inquiry into the validity of such amount by Escrow Agent.

[THIRD PARTY PURCHASER] has been instructed to wire US$___________ to the account identified in Section 16.9 of the Escrow Agreement. Immediately upon the Escrow Agent’s confirmation of its receipt of such wire, Escrow Agent shall cause the transfer of the Class A Common Share and the Preferred Shares to [THIRD PARTY PURCHASER] pursuant to instructions received by [THIRD PARTY PURCHASER] such that all right, title and interest therein shall be held by [THIRD PARTY PURCHASER], including without limitation all attributes with respect to such shares, and the Escrow Agent shall cease taking direction from Amyris regarding the voting of the Class A Common Share, or otherwise, and the Escrow Agent shall thereafter wire to Amyris the amount received, close the escrow and terminate the Escrow Agreement pursuant to the terms of the Escrow Agreement.

Total Energies Nouvelles Activités USA

BY:         _________________________
NAME:     _________________________
ITS:         Duly Authorized Representative

cc:    Amyris, Inc., via e-mail ([*])
Total Amyris BioSolutions B.V. via email ([*])

[*] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Annex 7 – Notice of Right of First Offer 

Attention: Stichting Total Amyris BioSolutions

Notice of Right of First Offer
Date:

Reference is made to that certain Escrow Agreement dated December 2, 2013 (the “Escrow Agreement”), among Total Energies Nouvelles Activités USA (“TENA USA”), Amyris, Inc. (“Amyris”), and Stichting Total Amyris BioSolutions (the “Escrow Agent”). 
This letter serves as TENA USA’s Notice of Right of First Offer. Undefined capitalized terms shall have the meanings provided to those terms in the Escrow Agreement.
Alternative 1: This language is to be included if the Right of First Offer Price is less than or equal to the outstanding amounts owing on the Notes and the Class A Note.
TENA USA hereby notifies the Escrow Agent that TENA USA has exercised its right of first offer by paying the entirety of the purchase price for the Class A Common Share and the Preferred Shares9. No further payment or consideration is due or owing with respect to the Class A Common Share or the Preferred Shares.
Immediately upon its receipt of this Notice of Right of First Offer, the Escrow Agent shall cause the transfer of the Class A Common Share and the Preferred Shares to TENA USA in a manner such that all right, title and interest therein shall be held by TENA USA in accordance with the Escrow Agreement, including without limitation all attributes with respect to such shares, and the Escrow Agent shall cease taking direction from Amyris regarding the voting of the Class A Common Share, or otherwise, and Escrow Agent shall thereafter wire to Amyris the amount received, close the escrow and terminate the Escrow Agreement pursuant to the terms of the Escrow Agreement.
- or –
Alternative 2: This language is to be included if the Right of First Offer price under exceeds the outstanding amounts owing on the Notes and the Class A Note.
TENA USA hereby notifies the Escrow Agent that TENA USA has exercised its right of first offer by effecting a dollar-for-dollar or euro-for-euro, as appropriate, offset against the full outstanding amounts owing under the Notes and the Class A Note, and by paying the balance of the purchase price in the amount of US$________10 by wiring such amount to the account identified in Section 16.9 of the Escrow Agreement. No further payment or consideration is due or owing with respect to the Class A Common Share or the Preferred Shares. 
Immediately upon Escrow Agent’s confirmation of its receipt of such wire, the Escrow Agent shall cause the transfer of the Class A Common Share and the Preferred Shares to TENA USA in a 
            
9Note to Escrow Agent: The language throughout this Notice may be modified by TENA to refer to only the Preferred
Shares to the extent TENA takes delivery of ownership in and to the Class A Common Share outside of the foreclosure 
such that the foreclosure sale is limited to the Preferred Shares only.
10Note to Escrow Agent: TENA to insert without inquiry into the validity of such amount by Escrow Agent.

manner such that all right, title and interest therein shall be held by TENA USA, including without limitation all attributes with respect to such shares, and the Escrow Agent shall cease taking direction from Amyris regarding the voting of the Class A Common Share, or otherwise, and the Escrow Agent shall thereafter close the escrow and terminate the Escrow Agreement pursuant to the terms of the Escrow Agreement.
Alternative 3: This language is to be included if a party other than TENA USA or a Wholly Owned TENA Affiliate is the purchaser.
TENA USA hereby notifies the Escrow Agent that [THIRD PARTY PURCHASER]11 was the purchaser of the Class A Common Share and the Preferred Shares. [THIRD PARTY PURCHASER] has been instructed to wire US$___________ to the account identified in Section 16.9 of the Escrow Agreement. Immediately upon the Escrow Agent’s confirmation of its receipt of such wire, Escrow Agent shall cause the transfer of the Class A Common Share and the Preferred Shares to [THIRD PARTY PURCHASER] pursuant to instructions received by [THIRD PARTY PURCHASER] such that all right, title and interest therein shall be held by [THIRD PARTY PURCHASER], including without limitation all attributes with respect to such shares, and the Escrow Agent shall cease taking direction from Amyris regarding the voting of the Class A Common Share, or otherwise, and the Escrow Agent shall thereafter wire to Amyris the amount received, close the escrow and terminate the Escrow Agreement pursuant to the terms of the Escrow Agreement.

Total Energies Nouvelles Activités USA

BY:         _________________________
NAME:     _________________________
ITS:         Duly Authorized Representative

cc:    Amyris, Inc., via e-mail ([*])
Total Amyris BioSolutions B.V. via email ([*])

[*] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

                                            

11Note to Escrow Agent: TENA to provide Escrow Agent with name of third party purchaser.

Annex 8 – Power of Attorney JVCO

EXECUTION COPY
Annex 8 – Power of Attorney

Total Amyris BioSolutions B.V., a private company with limited liability incorporated under the laws of the Netherlands (besloten vennootschap met beperkte aansprakelijkheid), having its official seat (statutaire zetel) in Amsterdam, the Netherlands, and its office at Claude Debussylaan 24, 1082 MD Amsterdam, the Netherlands, registered with the Dutch Trade Register of the Chambers of Commerce under number 59337494 (the “Grantor”),

whereas:

it is contemplated that on or about the date hereof (or such later date as may actually be the case), Amyris, Inc, TENA USA (as defined hereinafter) and Stichting Total Amyris BioSolutions (the “Escrow Agent”) will enter into an escrow agreement (the “Escrow Agreement”) in relation to shares in the capital of the Grantor;

hereby grants full power of attorney to:

Total Energies Nouvelles Activités USA, a company incorporated under the laws of France (Société par actions simplifiée à associé unique), having its official seat (siège social) at 24 Cours Michelet, 92800 Puteaux, France, registered with the French Commercial Register (Registre du Commerce et des Sociétés, Greffe du Tribunal de Commerce de Nanterre) under number 505 028 118 (“TENA USA”),

to, on behalf of the Grantor:

		
	(i)
	sign and execute any notarial deeds of transfer of shares (the Deeds”) to effect the transfer of the Share A (as defined in the Grantor’s articles of association) and/or the Preferred Shares (as defined in the Grantor’s articles of association) from the Escrow Agent to TENA USA in accordance with Section 7 of the Escrow Agreement, substantially in the form of such deed attached to the Escrow Agreement as Annex 9; 

		
	(ii)
	acknowledge the transfer of the Share A and/or the Preferred Shares to TENA USA effected by any of the Deeds; and

		
	(iii)
	do all such things TENA USA may deem necessary in respect thereof;

and hereby declares:

		
	(a)
	that this power of attorney, as far as it concerns the transfer of the Share A to TENA USA, becomes effective upon the occurrence of a Fundamental Amyris Change (as defined in the Grantor’s articles of association);

		
	(b)
	that this power of attorney, as far as it concerns the transfer of the Preferred Shares to TENA USA, becomes effective upon the delivery by TENA USA of a Notice of Purchase (as defined in the Escrow Agreement) to the Escrow Agent;

		
	(c)
	that this power of attorney has also been granted for the benefit of other persons who are a party to any of the Deeds;

		
	(d)
	that this power of attorney shall be governed by the laws of the European part of the Netherlands and can only be revoked in writing; and

__________________________
A17129856

		
	(e)
	that this appointment also applies to situations where TENA USA also acts as the Grantor’s counterparty or as representative of the Grantor’s counterparty (Selbsteintritt).

Signed on ________________________ 2013.

(Signature page follows)

__________________________
A17129856

Signature Page

Total Amyris BioSolutions B.V.:
	
	
	 

	 

	             /s/

	
	
	By: John Melo

	Its: jointly authorised managing director A

	
	
	 

	 

	By:

	Its: jointly authorised managing director B

[Signature page Total Amyris BioSoultions B.V. - Annex 8 to Escrow Agreement - PoA to TENA]

Signature Page

Total Amyris BioSolutions B.V.:
	
	
	 

	 

	 

	
	
	By:

	Its: jointly authorised managing director A

	
	
	             /s/

	 

	By:OTERO DEL VAL

	Its: jointly authorised managing director B

[Signature page Total Amyris BioSoultions B.V. - Annex 8 to Escrow Agreement - PoA to TENA]

Annex 9 – Format Deed of Transfer 

Annex 10 –SHA 

Annex 11 – JVCO Articles of Association

Annex 12 – Escrow Agent Articles of Association

Annex 13 – Format power of attorney Escrow Agent to Amyris for exercising Voting Rights

Annex 13 - Format of Power of Attorney

Annex 14 – Notarial Deeds of Conditional Transfer

Annex 15 – Signatures specimen

Duly Authorized Representatives on behalf of Amyris:

	
	
	Name

	John Melo

	Zanna McFerson

	Karen Weaver

	Nick Khadder

	Keri Zook

Duly Authorized Representatives on behalf of TENA USA:

	
	
	Name

	Bernard Clément

	Jean-Marc Otero Del Val

	Vincent Schachter

	Philippe Marchand

	Stephen Douglas

(Signatures pages follow)

Annex 15 – Signatures specimen (continued)

	
		
	Name
	Signature

	

John Melo

	

/s/

Annex 15 – Signatures specimen (continued)

	
		
	Name
	Signature

	

Zanna McFerson
	

/s/

Annex 15 – Signatures specimen (continued)

	
		
	Name
	Signature

	

Karen Weaver

	

/s/

Annex 15 – Signatures specimen (continued)

	
		
	Name
	Signature

	

Nick Khadder
	

/s/

Annex 15 – Signatures specimen (continued)

	
		
	Name
	Signature

	

Keri Zook
	

/s/

Annex 15 – Signatures specimen (continued)

	
		
	Name
	Signature

	

Bernard Clément

	/s/

Annex 15 – Signatures specimen (continued)

	
		
	Name
	Signature

	

Jean-Marc Otero Del Val

	

/s/

Annex 15 – Signatures specimen (continued)

	
		
	Name
	Signature

	

Vincent Schachter

	

/s/

Annex 15 – Signatures specimen (continued)

	
		
	Name
	Signature

	

Philippe Marchand

	

/s/

Annex 15 – Signatures specimen (continued)

	
		
	Name
	Signature

	

Stephen Douglas

	/s/Amyris 2013 10-K Ex 10.27 1.5%SeniorSecuredConvertibleNotetoTotalRS-112-02-13FINAL

	
			
	CONFIDENTIAL TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS DOCUMENT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND, WHERE APPLICABLE, HAVE BEEN MARKED WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE CONFIDENTIAL MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

1.5% SENIOR SECURED CONVERTIBLE NOTE
RS-1    December 2, 2013
U.S.$15,000,000.00
THE SECURITIES REPRESENTED BY THIS NOTE AND THE SECURITIES ISSUABLE UPON ITS CONVERSION HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR SECURITIES LAWS OF ANY STATE AND MAY NOT BE OFFERED, SOLD, ASSIGNED, PLEDGED TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE ACT OR SUCH LAWS AND, IF REASONABLY REQUESTED BY THE COMPANY, UPON DELIVERY OF AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT THE PROPOSED TRANSFER IS EXEMPT FROM THE ACT OR SUCH LAWS.  THIS NOTE IS ALSO SUBJECT TO THE TRANSFER RESTRICTIONS CONTAINED IN THE SECURITIES PURCHASE AGREEMENT, DATED AS OF JULY 30, 2012, AMONG THE COMPANY AND TOTAL ENERGIES NOUVELLES ACTIVITÉS USA (FORMERLY KNOWN AS TOTAL GAS & POWER USA, SAS).
FOR VALUE RECEIVED, the undersigned, Amyris, Inc., a Delaware corporation (the “Company”), promises to pay to Total Energies Nouvelles Activités USA (formerly known as Total Gas & Power USA, SAS), a société par actions simplifiée organized under the laws of the Republic of France, or its Permitted Transferees pursuant to Section 13 of this Note (the “Investor”), in lawful money of the United States and in immediately available funds (or in shares of Common Stock as provided herein), U.S. $15,000,000.00 (the “Face Amount”), all in accordance with the provisions of this Note.  The “Issue Date” of this Note is December 2, 2013.
This Note was issued pursuant to the Securities Purchase Agreement, dated as of July 30, 2012 (as amended from time to time, the “Agreement”), among the Company and the Investor.  Unless the context otherwise requires, as used herein, “Note” means any of the Convertible Notes issued to the Investor pursuant to the Agreement and any other similar convertible notes issued by the Company in exchange for, or to effect a transfer of, any Note and “Notes” means all such Notes in the aggregate.  This Note is issued in exchange for Note R-2 originally issued on September 14, 2012 (the “Original Issue Date”) pursuant to the Agreement (the “Exchanged Note”).  
The Company’s liabilities, obligations and indebtedness to the Investor for monetary amounts, whether now or hereafter owing, arising, due or payable under this Note (collectively, the “Obligations”), are secured by a lien on all of the Company’s right, title and interests in and to the Company’s shares in the capital of Total Amyris BioSolutions B.V., a private company with limited liability organized under the laws of the Netherlands (besloten vennootschap met beperkte aansprakelijkheid) (“JVCO”), as well as certain additional collateral pursuant to a 

pledge agreement executed as a notarial deed as of as of December 2, 2013 before B.J. Kuck, civil law notary in Amsterdam, the Netherlands, or his deputy, by the Company in favor of the Investor, and in the presence of and acknowledged by JVCO, as amended from time to time.
1.Definitions.  For purposes of this Note, the following definitions shall be applicable:
“Affiliate” of any specified person means any other person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified person; for purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and ‘under common control with”), as used with respect to any person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such person, whether through the ownership of voting securities, by agreement or otherwise.  
“Amyris License Agreement” has the meaning ascribed thereto in the Shareholders Agreement.
“Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief of debtors.
“Board of Directors” means the board of directors of the Company.
“Business Day” means any day other than a Saturday, a Sunday or a day on which the Federal Reserve Bank of New York is authorized or required by law or executive order to close or be closed.
“Capital Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized on a balance sheet in accordance with GAAP.
“Certificate of Incorporation” means the Company’s Restated Certificate of Incorporation, as amended and as in effect on the date hereof.
“Change of Control” shall mean the occurrence of any of the following: (i) the consolidation of the Company with, or the merger of the Company with or into, another “person” (as such term is used in Rule 13d-3 and Rule 13d-5 of the Exchange Act), or the sale, lease, transfer, conveyance or other disposition, in one or a series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole, or the consolidation of another “person” with, or the merger of another “person” into, the Company, other than in each case pursuant to a transaction in which the “persons” that “beneficially owned” (as such term is defined in Rule 13d-3 and Rule 13d-5 under the Exchange Act), directly or indirectly, the Voting Shares of the Company immediately prior to the transaction “beneficially own”, directly or indirectly, Voting Shares representing at least a majority of the total voting power of all outstanding classes of voting stock of the surviving or transferee person; (ii) the adoption by the Company of a plan relating to the liquidation or dissolution of the Company; (iii) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person” becomes the “beneficial owner” directly or indirectly, of more than 50% of the Voting Shares of the Company (measured by 

2

voting power rather than number of shares); or (iv) the first day on which a majority of the members of the Board of Directors does not consist of Continuing Directors.
“Class A Note” has the meaning ascribed thereto in the Shareholders Agreement.
“Closing Price” of the shares of Common Stock on any day means the last reported sale price regular way on such day or, in the case no such sale takes place on such day, the average of the reported closing bid and asked prices regular way of the shares of Common Stock, in each case as quoted on The NASDAQ Stock Market or such other principal securities exchange or inter-dealer quotation system on which the shares of Common Stock are then traded.
“Common Stock” means the Company’s common stock, $0.0001 par value per share (or such other security into which such Common Stock is exchanged for (or becomes) pursuant to the consummation of a Capital Reorganization (as defined in Section 3(g))).
“Continuing Director” shall mean, as of any date of determination, any member of the Board of Directors who (i) was a member of the Board of Directors on July 31, 2012 or (ii) was nominated for election or elected to the Board of Directors with the approval of a majority of the Continuing Directors who were members of the Board of Directors at the time of such nomination or election and who voted with respect to such nomination or election; provided that a majority of the members of the Board of Directors voting with respect thereto shall at the time have been Continuing Directors.
“Debt” shall mean, with respect to any person, any indebtedness of such person, whether or not contingent, in respect of borrowed money or evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof) or banker’s acceptances or representing Capital Lease Obligations or the balance deferred and unpaid of the purchase price of any property or representing any Hedging Obligations, except any such balance that constitutes an accrued expense or trade payable, if and to the extent any of the foregoing indebtedness (other than letters of credit and Hedging Obligations) would appear as a liability upon a balance sheet of such Person prepared in accordance with GAAP, as well as all Debt of others secured by a Lien on any asset of such Person (whether or not such Debt is assumed by such Person) and Lease Debt and, to the extent not otherwise included, the Guarantee by such Person of any Debt of any other Person.  The indebtedness of the Company represented by this Note shall constitute Debt.  The amount of any Debt outstanding as of any date shall be (i) the accreted value thereof, in the case of any Debt that does not require current payments of interest or (ii) the principal amount thereof, together with any interest thereon that is more than 30 days past due, in the case of any other Debt.
“Default” means any event that is or with the passage of time or the giving of notice or both would be an Event of Default.
“Disqualified Stock” means any capital stock that, by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable, in each case, at the option of the holder of the capital stock), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder of the capital stock, in whole or in part, on or prior to the date that is 91 days after the 

3

date on which this Note matures.  The amount of Disqualified Stock deemed to be outstanding at any time will be the maximum amount that the Company and its Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any mandatory redemption provisions of, such Disqualified Stock, exclusive of accrued dividends.
“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder.
“Final Go Decision Date” has the meaning ascribed thereto in the Shareholders Agreement.
“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession in the United States, which are in effect from time to time.
“Guarantee” means a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of business), direct or indirect, in any manner (including, without limitation, by way of a pledge of assets, letters of credit and reimbursement agreements in respect thereof), of all or any part of any Debt.
“Hedging Obligations” means, with respect to any person, the obligations of such person under (i) currency exchange or interest rate swap agreements, interest rate cap agreements and interest rate collar agreements and (ii) other agreements or arrangements designed to protect such person against fluctuations in interest rates or currency exchange rates.
“Intellectual Property” has the meaning ascribed thereto in the Agreement.
“Jet Go Decision” has the meaning ascribed thereto in the Master Framework Agreement.
“Larger Shareholder” shall mean any “person” or “group” (as each such term is used in Rule 13d-3 and Rule 13d-5 of the Exchange Act) who shall “beneficially own” (as such term is defined in Rule 13d-3 and Rule 13d-5 under the Exchange Act), directly or indirectly, Voting Shares of the Company (measured by voting power rather than number of shares) representing a larger number of Voting Shares than the number of Voting Shares of the Company (measured by voting power rather than number of shares) “beneficially owned”, directly or indirectly, by the Investor and its Affiliates, in each case as reported on (or required to have been reported on to the extent any “executive officer” (as such term is defined in Rule 3b-7 under the Exchange Act) of the Company has actual knowledge of the number of such “person” or “group’s” Voting Shares) the most recent Schedule 13D or Schedule 13G or an amendment to any such Schedule filed with the Securities and Exchange Commission by any such “person” or “group” or by the Investor or any of its Affiliates or as otherwise publicly announced by any such “person” or “group” or by the Investor or any of its Affiliates.
“Lease Debt” means, with respect to any Person, (i) the amount of any accrued and unpaid obligations of such Person arising under any lease or related document (including a 

4

purchase agreement, conditional sale or other title retention agreement) in connection with the lease of real property or improvement thereon (or any personal property included as part of any such lease) which provides that such Person is contractually obligated to purchase or cause a third party to purchase the leased property or pay an agreed upon residual value of the leased property to the lessor (whether or not such lease transaction is characterized as an operating lease or a capitalized lease in accordance with GAAP) and (ii) the guarantee, direct or indirect, in any manner (including, without limitation, letters of credit and reimbursement agreements in respect thereof), of any of the amounts set forth in (i) above.
“Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction).  Notwithstanding the foregoing, (x) prior to either the No-Go Decision Date or the Final Go Decision Date, a license to any Intellectual Property for uses other than those set forth in the scope of the Amyris License Agreement shall not constitute a Lien hereunder, (y) following the No-Go Decision Date with respect to a particular JV Product or JV Products, a license to any  Intellectual Property with respect to such JV Product or JV Products shall not constitute a Lien hereunder, and (z) following the Final Go Decision Date with respect to a particular JV Product or JV Products, a license to any Intellectual Property with respect to such JV Product or JV Products for uses other than those set forth in the scope of the Amyris License Agreement, shall not constitute a Lien hereunder.
“Master Framework Agreement” shall have the meaning specified in the Agreement.
“No-Go Decision Date” has the meaning ascribed thereto in the Master Framework Agreement.
“Permitted Transferees” shall mean any Affiliate of Total Energies Nouvelles Activités USA.
“Person” means any individual, corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.
“Registration Rights Agreement” means that certain Registration Rights Agreement, dated July 30, 2012, by and among the Company and the Investor.
“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.
“Shareholders Agreement” means the Shareholders’ Agreement dated as of December 2, 2013, by and among the Company, the Investor and JVCO.

5

“Significant Subsidiary” means any Subsidiary of the Company that would be a “significant subsidiary” within the meaning specified in Rule 1-02(w) of Regulation S-X promulgated by the Commission under the Exchange Act..
“Subsidiary” means, with respect to any specified Person:
(1)    any corporation, association or other business entity of which more than 50% of the total voting power of shares of capital stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and 
(2)    any partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof).
“Trading Day” means, with respect to the Common Stock, each Monday, Tuesday, Wednesday, Thursday and Friday, other than any day on which securities are not generally traded on The NASDAQ Stock Market (or its successor) or such other principal securities exchange or inter-dealer quotation system on which the shares of Common Stock are then traded.
“Transfer” means, directly or indirectly, to offer, sell (including any short sale), transfer, assign, pledge, encumber, hypothecate or similarly dispose of (by merger, testamentary disposition, operation of law or otherwise), either voluntarily or involuntarily, or enter into any contract, option or other arrangement or understanding with respect to the offer, sale (including any short sale), transfer, assignment, pledge, encumbrance, hypothecation or similar disposition of (by merger, testamentary disposition, operation of law or otherwise), any Conversion Shares “beneficially owned” (as such term is defined in Rule 13d-3 and Rule 13d-5 under the Exchange Act) by a Person or any interest (including any right to (x) all or any portion of the pecuniary interest in the security, including, without limitation, the right to receive dividends and distributions, proceeds upon liquidation and receive the proceeds of disposition or conversion (if applicable) of the security, or (y) direct the voting of the security with respect to any matter for which the security is entitled to vote) in any Conversion Shares beneficially owned by a Person.  Whether or not treated as an offer or sale of the Conversion Shares under the Securities Act, “Transfer” shall also include any hedging or other transaction entered into after the date hereof, such as any purchase, sale (including any short sale) or grant of any right (including without limitation any put or call option) with respect to any of the Conversion Shares or with respect to any security that includes or derives any significant part of its value from such Conversion Shares.
“Voting Shares” of any person means capital shares or capital stock of such Person which ordinarily has voting power for the election of directors (or persons performing similar functions) of such person, whether at all times or only so long as no senior class of securities has such voting power by reason of any contingency.

6

2.    Interest; Payment of Principal of Note; Cancellation of Note.  
(a)    Interest.  This Note shall bear interest from the Issue Date on the Face Amount at a rate per annum equal to 1.50% (subject to Section 5(c)), it being understood and agreed that $276,875.00 in accrued and unpaid interest under the Exchanged Note as of the Issue Date is deemed to have accrued and is outstanding under this Note.  Interest on this Note shall accrue daily and be due and payable in arrears on the Final Maturity Date and at such other times as may be specified herein.  All computations of interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest being paid than if computed on the basis of a 365-day year). Notwithstanding the foregoing, if an Event of Default shall have occurred and be continuing this Note shall bear interest on the Face Amount at a rate per annum equal to 2.50% (as may be further adjusted pursuant to Section 5(c)).
(b)    Scheduled Payment of Principal.  Unless paid, converted or cancelled and extinguished earlier in accordance with the terms hereof, the Company shall deliver to the Investor cash in the amount of the Face Amount, together with all accrued and unpaid interest on this Note, on March 1, 2017 (the “Final Maturity Date”).  
(c)    Final Go Decision Date After a Go Decision.  Promptly following the occurrence of the Final Go Decision Date after a Go Decision, and concurrently with the execution and delivery of the Final Shareholders’ Agreement, the Company will repurchase this Note from the Investor at a price equal to 100% of the Face Amount of this Note, plus any accrued and unpaid interest thereon as of the date of the execution and delivery of the Final Shareholders’ Agreement. 
(d)    Final Go Decision Date After a Jet Go Decision.  Promptly following the occurrence of the Final Go Decision Date after a Jet Go Decision, and concurrently with the execution and delivery of the Final Shareholders’ Agreement, (i) the Company will repurchase from the Investor 30% of the Debt represented by the Face Amount of this Note at a price equal to 30% of the Face Amount of this Note, plus any accrued and unpaid interest on this Note as of the date of the execution and delivery of the Final Shareholders’ Agreement and (ii) upon receipt of this Note from the Investor, the Company shall concurrently issue and deliver to the Investor a new Note in an aggregate principal amount equal to 70% of the Debt represented by the Face Amount.
3.    Conversion Rights; Adjustments.  The Investor shall have conversion rights as follows (the “Conversion Rights”):
(a)    Investor’s Right to Convert.  At any time (i) after the tenth Trading Day prior to the Final Maturity Date and prior to the fifth Trading Day prior to the Final Maturity Date, (ii) after the earlier to occur of (x) the occurrence of a Change of Control and (y) the date of the Company’s delivery of the Change of Control Notice pursuant to Section 4(b), and in each case and prior to the fifth Trading Day prior to the Final Maturity Date, (iii) when there shall then exist a Larger Shareholder after the No-Go Decision Date, or (iv) after the occurrence of an Event of Default, the Investor shall have the right to convert the Face Amount of this Note, in whole or in part, at the option of the Investor, at any time within the period specified above into a number of fully paid and nonassessable authorized but unissued Common Stock determined by 

7

dividing (x) the Face Amount proposed to be converted at such date by (y) the then effective Conversion Price on the Conversion Date (as defined in Section 3(c)(i)) (the “Investor Optional Conversion”).
(b)    The “Conversion Price” at which Common Stock shall be deliverable upon conversion of the Notes (the “Conversion Price”) shall initially be $7.0682.  Such initial Conversion Price shall be subject to adjustment as provided below.
(c)    Mechanics of Conversion.
(i)    In order to exercise its rights pursuant to the Investor Optional Conversion, the Investor shall deliver written notice in the form of Exhibit 1 to the Company stating that the Investor elects to convert all or part of the Face Amount represented by this Note.  Such notice shall state the Face Amount of Notes which the Investor seeks to convert and shall be accompanied within one (1) Trading Day by the Note or Notes subject to conversion.  The date contained in the notice (which date shall be no earlier than the Trading Day immediately following the date of the notice) shall be the date of conversion of the Note (such date of conversion, the “Conversion Date”) and the Investor shall be deemed to be the beneficial owner of the underlying Common Stock as of such date.
(ii)    The Investor shall be deemed to beneficially own the Common Stock underlying this Note as of the applicable Conversion Date.  Not later than three (3) Trading Days following the Conversion Date, the Company shall promptly issue and deliver to the Investor a certificate or certificates for the number of shares of Common Stock to which the Investor is entitled and, in the case where only part of a Note is converted, the Company shall execute and deliver (at its own expense) a new Note of any authorized denomination as requested by the Investor in an aggregate principal amount equal to and in exchange for the unconverted portion of the principal amount of the Note so surrendered.  
(iii)    Upon conversion of this Note in whole or in part in accordance with the provision of Section 3(c) of this Note, the Company shall pay to the Investor, substantially concurrently with delivery of the shares of Common Stock issuable on such conversion (the “Conversion Shares”), any accrued and unpaid interest, through the day preceding the Conversion Date, on the portion of the Face Amount represented by this Note that has been so converted. In addition, upon conversion of this Note in whole or in part following a Change of Control the Company shall pay to the Investor, substantially concurrently with delivery of the Conversion Shares, an amount in cash equal to the interest that would have accrued at a rate per annum equal to 1.50% from such Conversion Date through the Final Maturity Date on the portion of the Face Amount represented by this Note that has been so converted if such Note (or portion of the Note) had not been converted (“Make-Whole Interest”).  Notwithstanding the foregoing, in no event will the total amount of Make-Whole Interest exceed $7,487,479.13.
(iv)    The Company shall at all times during which the Notes shall be outstanding, have and keep available out of its authorized but unissued shares, for the purpose of effecting the conversion of the outstanding Notes, such number of its duly authorized shares of Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding 

8

Notes.  In no event shall the Conversion Price be reduced to an amount less than the then par value of the Common Stock.
(v)    No fractional shares of Common Stock shall be issued upon any conversion of the Notes pursuant to this Section 3.  In lieu of fractional shares, the Company shall pay cash equal to such fraction multiplied by the Closing Price of the Common Stock on the Conversion Date.
(vi)    All Notes (or the portions thereof) which shall have been surrendered for conversion as herein provided shall no longer be deemed to be outstanding and all rights with respect to such Notes, except only the right of the Investor to receive shares of Common Stock in exchange therefor, accrued and unpaid interest and Make-Whole Interest, if applicable, each as described in Section 3(b)(iii) and, if applicable, cash for any fractional shares of Common Stock.  Any Notes, to the extent so converted, shall be retired and canceled.
(vii)    If any conversion pursuant to this Section 3 is in connection with an underwritten offering of securities registered pursuant to the Securities Act, the conversion may, at the option of the Investor, be conditioned upon the closing with the underwriter of the sale of the Conversion Shares issuable to the Investor pursuant to such offering, in which event the Investor shall not be deemed to have converted such Notes until immediately prior to the closing of such sale of securities.
(d)    Adjustment for Share Splits and Combinations.  If the Company shall at any time or from time to time after July 31, 2012 effect a subdivision of the outstanding shares of Common Stock, the Conversion Price and Conversion Price Floor (as defined in Section 3(e)) then in effect immediately before that subdivision shall be proportionately decreased.  If the Company shall at any time or from time to time after July 31, 2012 combine the outstanding shares of Common Stock, the Conversion Price and Conversion Price Floor then in effect immediately before the combination shall be proportionately increased.  Any adjustment under this paragraph shall become effective at the close of business on the date the subdivision or combination becomes effective.
(e)    Adjustment for Certain Dividends and Distributions.  In the event the Company at any time or from time to time after July 31, 2012, shall make or issue a dividend or other distribution payable in (x) additional shares of Common Stock, then and in each such event the Conversion Price shall be decreased as of the time of such issuance, by multiplying such Conversion Price by a fraction, the numerator of which shall be the total number of shares of Common Stock outstanding immediately prior to such issuance and the denominator of which shall be the total number of shares of Common Stock outstanding immediately prior to such issuance plus the number of such additional shares of Common Stock issuable in payment of such dividend or distribution; (y) in cash, then and in each such event, the Conversion Price shall be decreased as of the time of such issuance, by multiplying such Conversion Price by a fraction, the numerator of which shall be the Closing Price of the Common Stock on the Trading Day immediately preceding the ex-dividend date for such dividend and distribution minus the amount in cash per share of Common Stock that the Company dividends or distributes, and the denominator of which shall be the Closing Price of the Common Stock on the Trading Day immediately preceding the ex-dividend date for such dividend and distribution; (z) shares of 

9

capital stock of the Company, evidences of indebtedness, or any other asset (collectively, the “Distributed Property”), then and in each such event, the Conversion Price shall be decreased as of the time of such issuance, by multiplying such Conversion Price by a fraction, the numerator of which shall be the Closing Price of the Common Stock on the Trading Day immediately preceding the ex-dividend date for such dividend and distribution minus the fair market value (as determined in good faith by the Company’s board of directors) of the Distributed Property distributed with respect to each share of Common Stock, and the denominator of which shall be the Closing Price of the Common Stock on the Trading Day immediately preceding the ex-dividend date for such dividend and distribution. Notwithstanding the foregoing, in no event shall the Conversion Price be reduced below $5.99 (as may be adjusted pursuant to Section 3(d), the “Conversion Price Floor”) pursuant to this clause (e).  If a distribution or dividend would cause the Conversion Price to be below the Conversion Price Floor if not for the immediately preceding sentence, the Company shall allow the Investor to participate in the dividend or distribution as if it held the number of shares of Common Stock that this Note would be convertible into at the close of business on the day immediately preceding the ex-dividend date or effective date, as the case may be, for such distribution or dividend, and no adjustment shall be made to the Conversion Price as a result of such distribution or dividend.
(f)    Adjustment for Reclassification, Exchange or Substitution.  If at any time after July 31, 2012, shares of Common Stock of the Company shall be changed into the same or a different number of shares of any class or classes of shares, whether by reclassification, or otherwise (other than a subdivision or combination of shares, share dividend or reorganization, reclassification, merger, consolidation or asset sale provided for elsewhere in this Section 3), then and in each such event the Company shall enter into an amendment to supplement to this Note to provide that the Note will become convertible (subject to Section 3(a)) into the kind and amount of shares and other securities and property receivable upon such reorganization, reclassification, or other change, by holders of the number of shares of Common Stock into which this Note might have been converted immediately prior to such reorganization, reclassification, or change, all subject to further adjustment as provided herein or with respect to such other securities or property by the terms thereof.
(g)    Reorganizations, Mergers, Consolidations or Asset Sales.  If at any time after July 31, 2012 there is a tender offer, exchange offer, merger, consolidation, recapitalization, sale of all or substantially all of the Company’s assets or reorganization involving the shares of Common Stock (collectively, a “Capital Reorganization”) (other than a merger, consolidation, sale of assets, recapitalization, subdivision, combination, reclassification, exchange or substitution of shares provided for elsewhere in this Section 3), as part of such Capital Reorganization, the Company shall enter into an amendment or supplement to this Note to provide that the Note will become convertible (subject to Section 3(a)) into the number of shares or other securities or property of the Company to which a holder of the number of shares of Common Stock deliverable upon conversion immediately prior to such Capital Reorganization would have been entitled on such Capital Reorganization, subject to adjustment in respect to such shares or securities by the terms thereof.  In any such case, appropriate adjustment will be made in the application of the provisions of this Section 3 with respect to the rights of the Investor after the Capital Reorganization to the end that the provisions of this Section 3 (including adjustment of the Conversion Price then in effect and the number of Conversion Shares) and the provisions of the Agreement and the Registration Rights Agreement will be 

10

applicable after that event and be as nearly equivalent as practicable.  In the event that the Company is not the surviving entity of any such Capital Reorganization, each Note shall become Notes of such surviving entity, with the same powers, rights and preferences as provided herein.
(h)    No Impairment.  The Company will not, by amendment of its Certificate of Incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all the provisions of this Section 3 and in the taking of all such action as may be necessary or appropriate in order to protect the conversion rights of the Investor against impairment to the extent required hereunder.
(i)    Certificate as to Adjustments or Distributions.  Upon the occurrence of each adjustment of the Conversion Price or distribution to holders pursuant to this Section 3, the Company at its expense shall promptly compute such adjustment or distribution in accordance with the terms hereof and furnish to the Investor a certificate setting forth the terms of such adjustment or distribution and showing in detail the facts upon which such adjustment or distribution are based and shall file a copy of such certificate with its corporate records.
(j)    Notice of Record Date.  In the event:
(i)    that the Company declares a dividend (or any other distribution) on its Common Stock payable in shares of Common Stock, securities, or other assets, rights or properties;
(ii)    that the Company subdivides or combines its outstanding shares of Common Stock;
(iii)    of any reclassification of the shares of Common Stock (other than a subdivision or combination of the Company’s outstanding shares of Common Stock or a share dividend or share distribution thereon);
(iv)    of any Capital Reorganization; or
(v)    of the involuntary or voluntary dissolution, liquidation or winding up of the Company;
then the Company shall cause to be filed at its principal office, and shall cause to be mailed to the Investor, at least ten (10) days prior to the record date specified in (A) below or twenty (20) days prior to the date specified in (B) below, a notice stating:
(A)    the record date of such dividend, distribution, subdivision or combination, or, if a record is not to be taken, the date as of which the holders of shares of Common Stock of record to be entitled to such dividend, distribution, subdivision or combination are to be determined, or
(B)    the date on which such reclassification, Capital Reorganization, dissolution, liquidation or winding up is expected to become effective, and the 

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date as of which it is expected that holders of shares of Common Stock of record shall be entitled to exchange their shares of Common Stock for securities or other property deliverable upon such reclassification, Capital Reorganization, dissolution or winding up
(k)    Notice of Adjustment to Conversion Price.  The Company will provide notice to the Investor upon the occurrence of any adjustment to the Conversion Price.
(l)    Lockup Agreement.  In the event of an Investor Optional Conversion pursuant to clause (iii) of Section 3(a), the Investor shall not, without the prior written consent of the Company, Transfer any of the Conversion Shares other than as expressly permitted by, and in compliance with, the provisions of this Section 3(l):
(i)    the Investor may Transfer any or all of its Conversion Shares to the Company or any of its Subsidiaries; 
(ii)    the Investor may Transfer all or any of its Conversion Shares in a transaction exempt from the registration requirements under the Securities Act to any of its Affiliates, so long as prior to or concurrent with any such Transfer such Affiliate agrees in writing to be bound by the terms hereunder as the “Investor” and such other terms hereunder applicable to the Investor, and agrees to transfer such Conversion Shares back to the Investor if it ceases to be an Affiliate of the Investor; 
(iii)    the Investor may Transfer all or any of its Conversion Shares pursuant to the terms of any tender offer, exchange offer, merger, reclassification, reorganization, recapitalization or other similar transaction in which stockholders of the Company are offered, permitted or required to participate as holders of Common Stock, provided that such tender offer, exchange offer, merger, reclassification, reorganization, recapitalization or other transaction has been approved or recommended by the Board of Directors (and which at the time of Transfer continues to be approved or recommended by the Board of Directors); or
(iv)    following the date that is six (6) months after the date of such Investor Optional Conversion pursuant to clause (iii) of Section 3(a), the Investor may transfer all or any of its Conversion Shares pursuant to either an effective registration statement that is effective at the time of such transfer or pursuant to Rule 144 promulgated under the Securities Act, and any successor provision thereto. 
Notwithstanding anything herein to the contrary, the restrictions set forth in this Article III shall terminate (i) upon the consummation of a Change of Control, or (ii) at such time as the Investor, together with its Affiliates, “beneficially owns” (as such term is defined in Rule 13d-3 and Rule 13d-5 under the Exchange Act) in the aggregate Voting Shares of the Company (measured by voting power rather than number of shares) representing less than five percent (5%) of the total voting power of all outstanding classes of voting stock of the Company.
4.    Repurchase Right Upon a Change of Control. 
(a)    Upon the occurrence of a Change of Control, the Investor will have the right to require the Company to repurchase all or any part of its Notes pursuant to an offer as provided in this Section 4 (the “Change of Control Offer”) at an offer price in cash equal to 

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101% of the Face Amount of its Notes, plus any accrued and unpaid interest as of the Change of Control Payment Date (as defined in Section 4(b)(i)) (the “Change of Control Payment”), in addition to the Investor’s right to convert the Notes pursuant to Section 3 above.
(b)    On or before the 30th day after a Change of Control, the Company shall give to the Investor notice (the “Change of Control Notice”) of the occurrence of the Change of Control and of the Investor’s right to receive the Change of Control Payment arising as a result thereof.  Each notice of the Investor’s right to participate in the Change of Control Offer (the “Change of Control Repurchase Right”) shall be mailed to the Investor pursuant to Section 15 and shall state:
(i)    the date on which the Notes shall be repurchased (the “Change of Control Payment Date”), which date shall be no earlier than 30 days and no later than 60 days from the date of the Company’s delivery of the Change of Control Notice;
(ii)    the date by which the Change of Control Repurchase Right must be exercised, which date shall be no earlier than the close of business on the Trading Day immediately prior to the Change of Control Payment Date;
(iii)    the amount of the Change of Control Payment;
(iv)    a description of the procedure which the Investor must follow to exercise the Change of Control Repurchase Right, and the place or places where the Notes are to be surrendered for payment of the Change of Control Payment; and
(v)    the Conversion Price then in effect and the place where such Notes may be surrendered for conversion.
No failure by the Company to give the Change of Control Notice and no defect in any Change of Control Notice shall limit the Investor’s right to exercise its Change of Control Repurchase Right or affect the validity of the proceedings for the repurchase of Notes.  If any of the foregoing provisions or other provisions of this Section 4 are inconsistent with applicable law, such law shall govern.
(c)    To exercise the Change of Control Repurchase Right, the Investor shall deliver to the Company, on or before the Trading Day immediately prior to the Change of Control Payment Date, (i) written notice of the Investor’s exercise of such right, which notice shall set forth the name of the Investor, the Face Amount of Notes held by the Investor to be repurchased, and a statement that an election to exercise the Change of Control Repurchase Right is being made thereby, and (ii) the Notes with respect to which the Change of Control Repurchase Right is being exercised.  Such written notice shall be irrevocable, except that the right of the Investor to convert the Notes shall continue until midnight (Eastern Time) on the Trading Day immediately preceding the Change of Control Repurchase Date.
(d)    On the Change of Control Payment Date, the Company will (i) accept for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer and (ii) deliver cash in the amount of the Change of Control Payment to the Investor in respect of 

13

all Notes or portions thereof so tendered.  All Notes repurchased by the Company shall be canceled immediately by the Company
(e)    The Company shall publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date.
(f)    The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control.
(g)    Any Note which is to be repurchased only in part shall be surrendered to the Company and the Company shall execute and make available for delivery to the Investor  without service charge, a new Note or Notes, containing identical terms and conditions, each in an authorized denomination in aggregate principal amount equal to and in exchange for the unrepurchased portion of the principal of the Note so surrendered.  Any Notes surrendered to the Company pursuant to the provisions of this Section 4 shall be retired and cancelled.
(h)    The Company will not be required to make a Change of Control Offer upon a Change of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 4 applicable to a Change of Control Offer made by the Company and purchases all Notes validly tendered and not withdrawn under such Change of Control Offer.
5.    Events of Default.  Definitions.  For purposes of this Note, the following events shall constitute an “Event of Default”:
(i)    default in payment when due (whether at the Final Maturity Date or upon an earlier repurchase) of the principal of, or premium, if any, on this Note;
(ii)    default in the payment of an installment of interest on the Notes, which failure continues for thirty (30) days after the date when due;
(iii)    failure by the Company for thirty (30) days after notice from the Investor to comply with the provisions of Section 4 or Section 6 of this Note;
(iv)    failure by the Company for sixty (60) days after notice from the Investor to comply with any of its other agreements in this Note or the Agreement (other than Section 8.6(b) of the Agreement);
(v)    default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Debt for money borrowed by the Company (or the payment of which is guaranteed by the Company, whether such Debt or guarantee existed as of the Original Issue Date or is created after the Original Issue Date, which default (a) is caused by a failure to pay principal of or premium, if any, or interest on such Debt prior to the expiration of the grace period provided in such Debt on the date of such default or (b) results in the acceleration of such Debt prior to its express maturity and, in each case in clause (a) or (b), the principal amount of any such Debt, together with the principal 

14

amount of any other such Debt that has not been paid when due, or the maturity of which has been so accelerated, aggregates $10,000,000 or more;
(xviii)    failure by the Company to pay final judgments aggregating in excess of $10,000,000, which judgments are not paid, discharged or stayed for a period of sixty (60) days;
(xix)    the Company:
(A)    commences a voluntary case under any Bankruptcy Law,
(B)    consents to the entry of an order for relief against it in an involuntary case under any Bankruptcy Law,
(C)    consents to the appointment of a custodian of it or for all or substantially all of its property,
(D)    makes a general assignment for the benefit of its creditors, or
(E)    is unable to pay its debts as they become due; or
(xx)    a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:
(A)    is for relief against the Company;
(B)    appoints a custodian of the Company or any of its Significant Subsidiaries or for all or substantially all of the property of the Company; or
(C)    orders the liquidation of the Company and the order or decree remains unstayed and in effect for sixty (60) consecutive days; or
(ix)    failure by the Company to deliver when due the consideration deliverable upon conversion of this Note, which failure shall continue for a period of five days.
(b)    Notice of Compliance.  The Company shall be required to deliver to the Investor annually a statement regarding compliance with this Note, and the Company shall be required within five (5) days of becoming aware of any Default or Event of Default (or such earlier date as any such statement is provided to the holders of the Debt incurred pursuant to the Securities Purchase Agreement dated as of February 24, 2012) to deliver to the Investor a statement specifying such Default or Event of Default.
(c)    Acceleration.  If any Event of Default occurs and is continuing, the Investor may declare all the Notes to be due and payable immediately.  Notwithstanding the foregoing, in the case of an Event of Default described in Section 5(vii) or (viii) with respect to the Company all outstanding Notes will become due and payable without further action or notice.  The Investor may rescind an acceleration and its consequences if the rescission would 

15

not conflict with any judgment or decree. Notwithstanding the foregoing (or anything to the 
contrary in the Agreement), the sole remedy of the Investor for a failure by the Company to 
comply with Section 8.6(b) of the Agreement shall, for the first 365 days after the occurrence of 
such failure, be the right, by notice to the Company by the Investor, to increase in the rate of 
interest on this Note to 6% for the first 180 days of such failure, and to 9% thereafter (which 
increased interest shall constitute liquidated damages for such failure).
(d)    Waiver of Past Defaults.  The Investor may waive any existing Default 
or Event of Default and its consequences under this Note.  Upon any such waiver, such Default 
shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been 
cured for every purpose of this Note, but no such waiver shall extend to any subsequent or other 
default or impair any right consequent thereon.
(e)    Rights of Investor to Receive Payment.  Notwithstanding any other 
provision of this Note, the right of the Investor to receive payment of the principal of, and 
premium on, this Note, on or after the respective due dates expressed in the Note (including in 
connection with a redemption or an offer to purchase), or to bring suit for the enforcement of any 
such payment on or after such respective dates, shall not be impaired or affected without the 
consent of the Investor
6.    Limitation on Debt and Liens.  The Company will not, and will not permit its 
Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become 
directly or indirectly liable, contingently or otherwise, with respect to any Debt, and the 
Company will not issue any Disqualified Stock and the Company will not permit its Subsidiaries 
to issue shares of preferred stock except for: 
(a)    Debt in an amount outstanding at any time not to exceed the greater of (i) 
$200 million in aggregate principal amount or (ii) 50% of the Company’s total consolidated 
assets (as set forth on its most recent balance sheet prepared in accordance with GAAP and filed 
with the Securities and Exchange Commission after giving effect to any reductions or additions 
to assets in accordance with GAAP since the date of such balance sheet) (the “Maximum Debt 
Amount”) (provided that that the Company and its Subsidiaries may incur (x) Debt in connection 
with the Notes issued by the Company under the Agreement and Debt in connection with the 
Class A Note, (y) Debt of Amyris Brasil Ltda. outstanding as of the Issue Date and (z) Debt in 
connection with the senior convertible notes to be issued by the Company under that certain 
Securities Purchase Agreement, dated as of August 8, 2013, by and among the Company and the 
investors identified on Schedule I thereto, as amended as of October 16, 2013 (such Debt 
described in clauses (x), (y) and (z) referred to herein as the “Existing Debt”), and provided 
further that upon incurring such Existing Debt, the Company and its Subsidiaries may have 
incurred Debt in excess of the Maximum Debt Amount, and so long as the Debt of the Company 
and its Subsidiaries exceeds the Maximum Debt Amount, the Company and its Subsidiaries shall 
not be permitted to incur any additional Debt in reliance on this clause (a) without Total’s 
consent) (and provided that Debt incurred pursuant to this clause (a) that is secured by a Lien on 
assets of the Company shall not exceed the greater of (i) $125 million in aggregate principal 
amount or (ii) 30% of the Company’s total consolidated assets (as set forth on its most recent 
balance sheet prepared in accordance with GAAP) (the “Maximum Secured Debt Amount”) (it 
being understood and agreed that the Notes issued by the Company under the Agreement shall 

16

reduce the available Maximum Secured Debt Amount)); provided that neither the Company nor 
any of its Subsidiaries shall incur any Debt pursuant to this clause 6(a) if the issuance of such 
Debt would prohibit the Company from issuing the maximum amount of Notes to be issued by 
the Company under the Agreement; 
(b)    Debt in existence on February 27, 2012;
(c)    the incurrence by the Company or any of its Subsidiaries of Debt represented by Capital Lease Obligations, mortgage financings or purchase money obligations, in each case, incurred for the purpose of financing all or any part of the purchase price or cost of design, construction, installation or improvement of property, plant or equipment used in the business of the Company or any of its Subsidiaries.
(d)    Debt of the Company that is (i) contractually subordinated in right of payment to the Notes, (ii) matures 91 days after the Notes and (iii) is less than $50 million in aggregate principal amount at any one time outstanding;
(e)    Debt of the Company (A) in respect of performance, surety or appeal bonds or letters of credit in the ordinary course of business, or (B) under interest rate, currency, commodity or similar hedges, swaps and other derivatives entered into with one or more financial institutions that is designed to protect such the Company against fluctuations in interest rates or currency exchange rates, commodity prices or other market fluctuations and is not entered into for speculative purposes; and 
(f)    Debt which is exchanged for or the proceeds of which are used to refinance or refund, or any extension or renewal of (each a "refinancing"), (1) the Notes or (2) debt in existence on the Original Issue Date, and (3) Debt incurred pursuant to clause (c) of this paragraph, in each case in an aggregate principal amount not to exceed the principal amount of the Debt so refinanced (together with any accrued interest and any premium and other payment required to be made with respect to the Debt being refinanced or refunded, and any fees, costs, expenses, underwriting discounts or commissions and other payments paid or payable with respect to the Debt incurred pursuant to this clause (f)); provided, however, that (A) Debt, the proceeds of which are used to refinance the Notes, or Debt which is pari passu with the Notes (including Debt incurred pursuant to the Securities Purchase Agreement, dated as of February 24, 2012, among the Company and the purchasers named therein) or subordinate in right of payment to the Notes, shall only be permitted if (x) in the case of any refinancing of the Notes or Debt which is pari passu to the Notes (including Debt incurred pursuant to the Securities Purchase Agreement, dated as of February 24, 2012, among the Company and the purchasers named therein), the refinancing Debt is Incurred by the Company and made pari passu to the Notes or subordinated to the Notes, and (y) in the case of any refinancing of Debt which is subordinated to the Notes, the refinancing Debt is incurred by the Company and is subordinated to the Notes in a manner that is at least as favorable to the Investor as that of the Debt refinanced; (B) refinancing Debt with respect to Debt incurred pursuant to clause (c) of this paragraph shall not be secured by a Lien on any assets other than the assets securing the Debt so refinanced, and any improvements or additions thereto, and (C) the refinancing Debt by its terms, or by the terms of any agreement or instrument pursuant to which such Debt is issued, does not have a final maturity prior to the final maturity of the Debt being refinanced.

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For purposes of determining compliance with this Section 6, in the event that an item of Debt meets the criteria of more than one of the types of Debt described in the above clauses the Company, in its sole discretion, shall classify, and from time to time may reclassify, such item of Debt.
(g)    The Company will not create, incur, assume or suffer to exist any Lien of any kind on any asset now owned or hereafter acquired, except for (a) the Liens described in Section 6(a) and 6(c) (including the refinancing of Liens described in Section 6(c) pursuant to Section 6(f)), (b) Permitted Liens, and (c) any Liens in existence on the Original Issue Date (including the refinancing thereof pursuant to Section 6(f)).  Notwithstanding the foregoing, without the prior written consent of the Investor, which consent shall not be unreasonably withheld, the Company will not create, incur, assume or suffer to exist any Lien of any kind on any of its Intellectual Property that is subject to or within the scope of the Amyris License Agreement, unless the secured party acknowledges in writing that its Lien shall not restrict the Company from granting and performing its obligations under any license agreement entered into in accordance with the Amyris License Agreement, and that the rights of the secured party under its Lien shall be subordinate and subject to the rights of the licensees under any such licenses, and (ii) there shall be no restriction on the ability of the Company to create, incur, assume or suffer to exist any Lien of any kind on any of its Intellectual Property that is not subject to or within the scope of the Amyris License Agreement.
As used herein, “Permitted Liens” means the following: (a) Liens for taxes, assessments and governmental charges or levies that are not overdue for a period of more than thirty (30) days or  which are being contested in good faith; (b) Liens imposed by law, such as materialmen’s, mechanics’, carriers’, workmen’s and repairmen’s Liens and other similar Liens securing obligations that are not overdue for a period of more than thirty (30) days or that are being contested in good faith; (c) pledges or deposits to secure obligations under workers’ compensation laws or similar legislation or to secure public or statutory obligations; (d) easements, rights of way and other encumbrances on title to real property that do not render title to the property encumbered thereby unmarketable or materially adversely affect the use of such property for its present purposes; (e) Liens to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature; (f) landlords’ Liens under leases; (g) Liens consisting of leases, subleases, licenses or sublicenses granted to others and not interfering in any material respect with the business of the Company and its Subsidiaries, taken as a whole, and any interest or title of a lessor or licensor under any lease or license, as applicable; (h) Liens arising solely by virtue of any statutory or common law provision relating to banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a creditor depository institution; and (i) Liens securing judgments for the payment of money not constituting an Event of Default under Section 5(a)(vi) or securing appeal or other surety bonds related to such judgments.
7.    Successors.  
(a)    Merger, Consolidation or Sale of Assets.  The Company shall not consolidate or merge with or into (whether or not the Company is the surviving corporation), or 

18

sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions, to another corporation, Person or entity unless:
(i)    the entity or Person formed by or surviving any such consolidation or merger (if other than the Company), or the parent company thereof, or the entity or Person to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made assumes all the obligations of the Company under the Notes and the Agreement; and
(ii)    immediately after such transaction no Default or Event of Default exists.
(b)    Successor Corporation Substituted.  Upon any consolidation or merger or any transfer of all or substantially all of the assets of the Company in accordance with Section 7(a) hereof, the successor Person formed by such consolidation or into which the Company is merged, or the parent company thereof, or to which such transfer is made shall succeed to and (except in the case of a lease) be substituted for (so that from and after the date of such consolidation, merger or transfer, the provisions of this Note, the Agreement and the Registration Rights Agreement referring to the “Company” shall refer instead to the successor Person and not to the Company), and may exercise every right and power of, the Company under this Note and the Agreement with the same effect as if such successor Person had been named herein as the Company, and (except in the case of a lease) the Company shall be released from the obligations under the Notes and the Agreement except with respect to any obligations that arise from, or are related to, such transaction.
8.    Amendment and Waiver.  Except as otherwise expressly provided herein, the provisions of this Note may be amended and the Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained the written consent of the Investor.
9.    Place of Payment.  Payments of principal, interest, and premium, if any, consideration deliverable upon conversion of this Note (unless otherwise specified in the conversion notice) and all notices and other communications to the Investor hereunder or with respect hereto are to be delivered to the Investor at the address identified in the Agreement or to such other address or to the attention of such other person as specified by prior written notice to the Company, including any Permitted Transferee of this Note in accordance with Section 3 of this Note.
10.     Costs of Collection.  In the event that the Company fails to (a) pay when due (including, without limitation upon acceleration in connection with an Event of Default) the full amount of principal, interest and/or premium hereunder or (b) deliver when due the consideration deliverable upon conversion of this Note, the Company shall indemnify and hold harmless the Investor of any portion of this Note from and against all reasonable costs and expenses incurred in connection with the enforcement of this provision or collection of such principal, interest,  premium and/or consideration, including, without limitation, reasonable attorneys’ fees and expenses.

19

11.    Waivers.  The Company hereby waives presentment, demand, notice, protest and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Note.
12.    Benefits of the Agreement.  The Investor and all transferees of this Note (to the extent such transfer is permitted by the Agreement) shall be entitled to the rights and benefits granted to them in the Agreement.
13.    Registration of Transfer and Exchange Generally.  
(a)    Registration, Registration of Transfer and Exchange Generally.  The Company shall keep at its principal executive offices a register (the register maintained in such being herein sometimes collectively referred to as the “Note Register”) in which the Company shall provide for the registration of Notes and of transfers and exchanges of Notes.
Subject to the provisions of the Agreement regarding restrictions on transfer and provided the Permitted Transferee agrees to be bound by the terms of this Note and the Agreement, upon surrender for registration of transfer of any Note at its principal executive office, the Company shall execute and deliver, in the name of the designated transferee or transferees, one or more new Notes in denominations requested by the transferee (which denominations shall not be less than $1,000,000 per Note  (unless the transferor holds a lesser denomination, in which case no such restriction shall apply)), of a like aggregate principal amount and bearing such restrictive legends as may be required by law.
At the option of the Investor, Notes may be exchanged for other Notes of any authorized denominations, of a like aggregate principal amount and bearing such restrictive legends as may be required by law upon surrender of the Notes to be exchanged at the Company’s principal executive offices.  Whenever any Notes are so surrendered for exchange, the Company shall execute and make available for delivery the Notes that the Investor making the exchange is entitled to receive.
All Notes issued upon any registration of transfer or exchange of Notes shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits as the Notes surrendered upon such registration of transfer or exchange.
Every Note presented or surrendered for registration of transfer or for exchange shall (if so required by the Company) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company, duly executed by the Investor.
No service charge shall be made for any registration of transfer or exchange of Notes.
(b)    Mutilated, Destroyed, Lost and Stolen Notes.  If any mutilated Note is surrendered to the Company, the Company shall execute and make available for delivery in exchange therefor a new Note of like tenor and principal amount and bearing a number not contemporaneously outstanding.
If there shall be delivered to the Company (i) evidence to its reasonable satisfaction of the destruction, loss or theft of any Note and (ii) such indemnity as may be reasonably requested by 

20

the Company to save itself harmless, then, in the absence of notice to the Company that such Note has been acquired by a protected purchaser, the Company shall execute and make available for delivery, in lieu of any such destroyed, lost or stolen Note, a new Note of like tenor and principal amount and bearing a number not contemporaneously outstanding.
Every new Note issued pursuant to this Section 13 in lieu of any mutilated, destroyed, lost or stolen Note shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Note shall be at any time enforceable by anyone.
The provisions of this Section 13 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes.
14.    Governing Law.  
(a)    THIS NOTE, AND THE PROVISIONS, RIGHTS, OBLIGATIONS, AND CONDITIONS SET FORTH HEREIN, AND THE LEGAL RELATIONS BETWEEN THE PARTIES HERETO, INCLUDING ALL DISPUTES AND CLAIMS, WHETHER ARISING IN CONTRACT, TORT, OR UNDER STATUTE, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO ITS CONFLICT OF LAW PROVISIONS.
(b)    Any and all disputes arising out of, or in connection with, the interpretation, performance, or nonperformance of this Note or any and all disputes arising out of, or in connection with, transactions in any way related to this Note and/or the relationship between the parties shall be litigated solely and exclusively before the United States District Court for the Southern District of New York. The parties consent to the in personam jurisdiction of said court for the purposes of any such litigation, and waive, fully and completely, any right to dismiss and/or transfer any action pursuant to 28 U.S.C. § 1404 or 1406 (or any successor statute). In the event the United States District Court for the Southern District of New York does not have subject matter jurisdiction of said matter, then such matter shall be litigated solely and exclusively before the appropriate state court of competent jurisdiction located in the state of New York.
15.    Notices.  All notices, requests, and other communications hereunder shall be in writing and will be deemed to have been duly given and received (a) when personally delivered, (b) when sent by facsimile upon confirmation of receipt, (c) one business day after the day on which the same has been delivered prepaid to a nationally recognized courier service, or (d) five business days after the deposit in the United States mail, registered or certified, return receipt requested, postage prepaid, in each case to the applicable address set forth below: 

21

(i)    if to the Company, to:
Amyris, Inc.
5885 Hollis Street, Suite 100
Emeryville, CA 94608
United States of America
Attn:      General Counsel
Fax. No.:  +1 [*]
with a copy (which shall not constitute notice) to:
Shearman & Sterling LLP 
Four Embarcadero Center, Suite 3800 
San Francisco, CA  94111-5994 
United States of America 
Attn:    [*] 
Fax. No.:  +1 [*]
(ii)    if to the Investor, to:
Total Energies Nouvelles Activités  USA
24 Cours Michelet 
92800 Puteaux
France
Attn:      [*] 
Fax. No.:  +[*]
with copies (which shall not constitute notice) to:
Wilson Sonsini Goodrich & Rosati
Professional Corporation
650 Page Mill Road
Palo Alto, CA 94304
United States of America
Attn:      [*]
[*]
Fax No.:  +1 [*]
and
Jones Day 
555 California Street, 26th Floor 
San Francisco, CA 94104-1500 
United States of America 
Attn:      [*]. 
Fax No.:  +1 [*]

[*] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

22

Any party hereto from time to time may change its address, facsimile number, or other information for the purpose of notices to that party by giving notice specifying such change to the other parties hereto. The Investor and the Company may each agree in writing to accept notices and other communications to it hereunder by electronic communications pursuant to procedures reasonably approved by it; provided that approval of such procedures may be limited to particular notices or communications.

[Signature Page Follows]

23

	
			
	CONFIDENTIAL TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS DOCUMENT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND, WHERE APPLICABLE, HAVE BEEN MARKED WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE CONFIDENTIAL MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

IN WITNESS WHEREOF, the Company has executed and delivered this Note on December 2, 2013.
	
				
	 
	AMYRIS, INC.

	 
	By:
	         /s/

	 
	Name:
	John Melo

	 
	Title:
	President and Chief Executive Officer

[Signature Page to Note RS-1]

	
			
	CONFIDENTIAL TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS DOCUMENT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND, WHERE APPLICABLE, HAVE BEEN MARKED WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE CONFIDENTIAL MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

EXHIBIT 1
(To be Executed by Investor in order to Convert Note)
CONVERSION NOTICE 
FOR 
1.5% SENIOR SECURED CONVERTIBLE NOTE DUE 2017
The undersigned, as holder of the 1.5% Senior Secured Convertible Note due 2017 of AMYRIS, INC., (the “Company”), in the outstanding principal amount of U.S. $_________ (the “Note”), hereby elects to convert that portion of the outstanding principal amount of the Note shown on the next page into shares of the Company’s common stock, $0.0001 par value per share (the “Common Stock”), of the Company, accrued and unpaid interest and Make-Whole Interest, if any, in accordance with and in compliance with the conditions of the Note, as of the date written below.  The undersigned hereby requests that share certificates for the shares of Common Stock to be issued to the undersigned pursuant to this Conversion Notice be issued in the name of, and delivered to, the undersigned or its designee as indicated below.  If shares are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto.  No fee will be charged to the Investor for any conversion, except for transfer taxes, if any. 
	
				
	Conversion Information:
	TOTAL ENERGIES NOUVELLES ACTIVITÉS USA:

	 
	By:
	 

	 
	Print Name:
	 

	 
	Print Title:
	 

	 
	 
	 

	 
	Address:

	 
	24 Cours Michelet 
92800 PuteauxFrance
Attn:     [*]
Fax. No.:  +[*]

	 
	 

	
						
	 	 
	Issue Common Stock:
	 

	 	 
	 
	 

	 	 
	at:
	 

	 	 
	 

	 	 
	Date of Conversion

	 	 
	 

	 	 
	Applicable Conversion Price

	 	 
	 

	 	[*] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

	 

	
			
	CONFIDENTIAL TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS DOCUMENT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND, WHERE APPLICABLE, HAVE BEEN MARKED WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE CONFIDENTIAL MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

THE COMPUTATION OF THE NUMBER OF SHARES OF COMMON STOCK TO 
BE RECEIVED IS SET FORTH ON THE ATTACHED PAGE

	
		
	Page 2 to Conversion Notice for:
	Total Energies Nouvelles Activités USA

	 
	 

	 
	 

COMPUTATION OF NUMBER OF COMMON SHARES TO BE RECEIVED
	
				
	Face Amount converted:
	 
	$
	 

	 
	 
	 
	 

	Conversion Price
	 
	$
	 

	 
	 
	 
	 

	Number of shares of Common Stock =
	Total dollar amount converted   =
	$
	 

	 
	Conversion Price
	 
	 

	Number of shares of Common Stock =
	 
	 
	 

	 
	 
	 
	 

	Please issue and deliver ___ certificate(s) for shares of Common Stock in the following amount(s):

	 

	 

	 

	 

	 

	Please issue and deliver ______ new Note(s) in the following amounts:

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