Document:

Collaborative Research and License Agreement

 EXHIBIT 10.5 
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 
 COLLABORATIVE RESEARCH AND LICENSE AGREEMENT 
  
  
  
  
  
  
  
  
 July 10, 2009 
  
  

 TABLE OF CONTENTS 
  

					
	 ARTICLE 1 DEFINITIONS
	  	2
	1.1  	  	 “Affiliate”
	  	2
	1.2  	  	 “Arbitral Tribunal”
	  	2
	1.3  	  	 “Arbitration Authority”
	  	2
	1.4  	  	 “Arbitration List”
	  	2
	1.5  	  	 “Background Technology”
	  	2
	1.6  	  	 “Biocatalyst”
	  	2
	1.7  	  	 “Biocatalyst Technology”
	  	2
	1.8  	  	 “Biofuel Process Technology”
	  	3
	1.9  	  	 “Biomass”
	  	3
	1.10	  	 “Blend”
	  	4
	1.11	  	 “Breaching Party”
	  	4
	1.12	  	 “[*]”
	  	4
	1.13	  	 “[*]”
	  	4
	1.14	  	 “[*]”
	  	4
	1.15	  	 “Calendar Year”
	  	4
	1.16	  	 “Claim Notice”
	  	4
	1.17	  	 “Codexis Background Technology”
	  	4
	1.18	  	 “Codexis Biocatalyst”
	  	4
	1.19	  	 “Codexis-[*] Agreement”
	  	4
	1.20	  	 “Codexis Introduced Program Technology”
	  	4
	1.21	  	 “Codexis Jointly Invented Research Technology”
	  	4
	1.22	  	 “Codexis Research Technology”
	  	4
	1.23	  	 “Codexis Screening Technology”
	  	4
	1.24	  	 “Codexis Shuffling Technology”
	  	5
	1.25	  	 “Codexis Solely Invented Research Technology”
	  	5
	1.26	  	 “Commercial Improvements”
	  	5
	1.27	  	 “Confidential Information”
	  	5
	1.28	  	 “Control”
	  	5
	1.29	  	 “Covenanting Party”
	  	6
	1.30	  	 “Default Notice”
	  	6
	1.31	  	 “Disputing Party”
	  	6
	1.32	  	 “[*] Party”
	  	6
	1.33	  	 “Environmental Law”
	  	6
	1.34	  	 “Fuels Field”
	  	6
	1.35	  	 “Hazardous Materials”
	  	6
	1.36	  	 “Information”
	  	6
	1.37	  	 “IE Background Technology”
	  	6
	1.38	  	 “IE Biofuel Process Technology”
	  	6
	1.39	  	 “IE Research Technology”
	  	6
	1.40	  	 “IE Introduced Program Technology”
	  	6
	1.41	  	 “IE Jointly Invented Research Technology”
	  	6

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - i - 

					
	1.42	  	 “IE Solely Invented Research Technology”
	  	6
	1.43	  	 “International Trade Laws”
	  	7
	1.44	  	 “Introduced Program Technology”
	  	7
	1.45	  	 “Jointly Owned Research Technology”
	  	7
	1.46	  	 “Losses”
	  	7
	1.47	  	 “Lubricant”
	  	7
	1.48	  	 “Microbes”
	  	7
	1.49	  	 “Non-Breaching Party”
	  	7
	1.50	  	 “Notice to Arbitrate”
	  	7
	1.51	  	 “Out-Sourcing Party”
	  	7
	1.52	  	 “Oversight Committee”
	  	8
	1.53	  	 “Patent Committee”
	  	8
	1.54	  	 “Patent Rights”
	  	8
	1.55	  	 “Permitted Products”
	  	8
	1.56	  	 “Program”
	  	8
	1.57	  	 “Research Plan”
	  	8
	1.58	  	 “Research Technology”
	  	8
	1.59	  	 “Research Term”
	  	8
	1.60	  	 “Rules”
	  	8
	1.61	  	 “Shell Agreements”
	  	8
	1.62	  	 “Shell Biofuel Technology”
	  	8
	1.63	  	 “Shell Research Technology”
	  	8
	1.64	  	 “Shuffling”
	  	9
	1.65	  	 “Shuffling Technology”
	  	9
	1.66	  	 “Technology”
	  	9
	1.67	  	 “Term”
	  	9
	1.68	  	 “Third Party”
	  	9
	1.69	  	 “Third Party Agreements”
	  	9
	1.70	  	 “[*]”
	  	9
	 ARTICLE 2 PROGRAM ACTIVITIES
	  	9
	2.1  	  	 Purpose
	  	9
	2.2  	  	 Oversight Committee
	  	10
	2.3  	  	 Contributions and Information Sharing
	  	12
	2.4  	  	 Reports and Materials
	  	14
	2.5  	  	 Laboratory Facility and Personnel
	  	15
	2.6  	  	 Efforts
	  	15
	2.7  	  	 Acknowledgement and Waiver
	  	15
	 ARTICLE 3 OWNERSHIP OF TECHNOLOGY
	  	16
	3.1  	  	 Codexis Background and Codexis Introduced Program Technology
	  	16
	3.2  	  	 IE Background and IE Introduced Program Technology
	  	16
	3.3  	  	 Codexis Research Technology
	  	16
	3.4  	  	 IE Research Technology
	  	17
	3.5  	  	 Shell Research Technology
	  	18
	3.6  	  	 Jointly Owned Research Technology
	  	18
	3.7  	  	 Assignments
	  	18

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - ii - 

					
	3.8  	  	 No Implied License
	  	18
	 ARTICLE 4 LICENSES; COORDINATION OF AGREEMENTS
	  	19
	4.1  	  	 To Iogen Energy
	  	19
	4.2  	  	 To Codexis
	  	21
	4.3  	  	 To Shell
	  	23
	4.4  	  	 Restrictions Related to [*]
	  	24
	4.5  	  	 Grant Back
	  	26
	4.6  	  	 Codexis as Permitted Third Party
	  	26
	4.7  	  	 Right of First Negotiation – Biocatalyst Manufacturing
	  	26
	4.8  	  	 Derivatives of Codexis Program Technology
	  	27
	4.9  	  	 No Other Rights
	  	29
	 ARTICLE 5 PAYMENTS
	  	30
	5.1  	  	 Royalties – Fuels Field
	  	30
	5.2  	  	 Payments Due Under Third Party Agreements
	  	31
	5.3  	  	 Mode of Payment
	  	31
	5.4  	  	 Reporting and Audit Requirements
	  	31
	 ARTICLE 6 PATENT PROSECUTION AND MAINTENANCE
	  	31
	6.1  	  	 Notification
	  	31
	6.2  	  	 Filing, Prosecution and Maintenance of Codexis Research Technology
	  	32
	6.3  	  	 Filing, Prosecution and Maintenance of IE Research Technology
	  	32
	6.4  	  	 Filing, Prosecution and Maintenance of Jointly Owned Research Technology
	  	32
	6.5  	  	 Assistance
	  	34
	6.6  	  	 Reimbursement of Costs for Filing, Prosecuting and Maintaining Patent Rights
	  	34
	6.7  	  	 Enforcement of Licensed Patents
	  	34
	6.8  	  	 Cooperation
	  	35
	6.9  	  	 Coordination with Shell Agreements
	  	35
	 ARTICLE 7 CONFIDENTIALITY
	  	35
	7.1  	  	 Confidentiality Obligations
	  	35
	7.2  	  	 Harmonization with Licenses
	  	37
	7.3  	  	 Publicity
	  	37
	 ARTICLE 8 REPRESENTATIONS AND WARRANTIES
	  	37
	8.1  	  	 Representations by Codexis
	  	37
	8.2  	  	 Representations by IE
	  	38
	8.3  	  	 Representations by Shell
	  	38
	8.4  	  	 Disclaimer of Warranties
	  	39
	 ARTICLE 9 INDEMNIFICATION
	  	39
	9.1  	  	 Employees and Property
	  	39
	9.2  	  	 Third Parties
	  	39
	9.3  	  	 IE-Shell Intellectual Property Indemnifications
	  	41
	9.4  	  	 Environmental
	  	43
	9.5  	  	 Notification of Claim; Conditions to Indemnification Obligations
	  	44
	9.6  	  	 Other Indemnification Obligations
	  	45
	 ARTICLE 10 TERM AND TERMINATION
	  	46

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
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	10.1  	  	 Term
	  	46
	10.2  	  	 Termination of Research Term At Will
	  	46
	10.3  	  	 Termination due to Challenge of Patent
	  	46
	10.4  	  	 Termination Upon Material Breach
	  	47
	10.5  	  	 Consequences of Expiration or Termination of this Agreement
	  	47
	10.6  	  	 Consequences of Termination of the Codexis-Shell US License Agreement
	  	48
	 ARTICLE 11 GENERAL PROVISIONS
	  	50
	11.1  	  	 Relationship of the Parties
	  	50
	11.2  	  	 Assignments
	  	51
	11.3  	  	 Further Actions
	  	51
	11.4  	  	 International Trade Compliance
	  	51
	11.5  	  	 Force Majeure
	  	51
	11.6  	  	 Captions
	  	52
	11.7  	  	 Rules of Construction
	  	52
	11.8  	  	 Governing Law
	  	52
	11.9  	  	 Dispute Resolution; Jurisdiction and Venue
	  	52
	11.10	  	 Notices and Deliveries
	  	52
	11.11	  	 No Consequential Damages
	  	54
	11.12	  	 Entire Agreement
	  	54
	11.13	  	 Waiver
	  	55
	11.14	  	 Severability
	  	55
	11.15	  	 Counterparts
	  	55
	11.16	  	 Compliance with Laws
	  	55
	11.17	  	 Amendment
	  	55

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - iv - 

 COLLABORATIVE RESEARCH AND LICENSE AGREEMENT 
 THIS COLLABORATIVE RESEARCH AND LICENSE
AGREEMENT, together with schedules attached hereto (this “Agreement”) is entered into and effective as of July 10, 2009 (the “Effective Date”) by and between Codexis, Inc., a Delaware
corporation, having a place of business at 200 Penobscot Drive, Redwood City, California 94063, United States of America, (“Codexis”), Iogen Energy Corporation, a corporation existing under the law of Canada, having a place
of business at 310 Hunt Club Road East, Ottawa, Ontario K1V 1C1, Canada, (“IE”), Equilon Enterprises LLC dba Shell Oil Products US, a Delaware limited liability company, having a place of business at 910 Louisiana Street,
Houston, Texas 77002, (“Shell US”), and Shell Chemicals Canada Limited, a corporation existing under the laws of Canada, having a place of business at 400 - 4th Avenue S.W., P.O. Box 4280, Station ‘C’, Calgary,
Alberta T2T 5Z5, Canada (“Shell Canada” and together with Shell US “Shell”). Codexis, IE, Shell US and Shell Canada may each be referred to herein individually as a “Party” or, collectively, as the
“Parties.”  
 RECITALS 
 WHEREAS, Codexis possesses certain valuable business and/or technical knowledge, information and/or
expertise applicable to the enhancement of the performance of certain enzymatically and microbially catalyzed processes applicable to the conversion of Biomass to fuels; 
 WHEREAS, IE possesses certain valuable business and/or technical knowledge, information and/or expertise applicable to the conversion of Biomass to fuel, biocatalyst
technology used therein, and scale-up of such processes and technology; 
 WHEREAS, Codexis
and Shell US, entered into a certain License Agreement, effective as of November 1, 2006, as amended (the “Codexis-Shell US License Agreement”), and a certain Collaborative Research Agreement, effective as of November 1,
2006, as amended (the “Codexis-Shell US Research Agreement”), relating to Codexis developing certain new biocatalytic processes for use in the conversion of Biomass to fuels, fuel additives and lubricants; 
 WHEREAS, IE, Shell Canada and [*] entered into a certain [*] Agreement, effective as of
[*], as amended (the “IE-Shell Canada [*] Agreement”), and a certain [*] Agreement, effective as of [*], as amended (the “IE-Shell Canada [*] Agreement”), relating to [*] conducting
research and development in respect of the [*]; and 
 WHEREAS, Codexis and IE
desire to engage in a collaborative effort relating to their respective collaborations with Shell US and Shell Canada pursuant to which the Parties will develop technology relating to the conversion of biomass to ethanol, focusing in particular on
development of [*] for the production of ethanol from [*]. 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 NOW, THEREFORE, in consideration of the
promises and undertakings set forth herein, the Parties agree as follows: 
 ARTICLE 1 
 DEFINITIONS 
 Except as otherwise specifically noted in Schedules 1.63 and 4.4(e), capitalized terms not otherwise defined herein will have the meaning set forth below: 
 1.1 “Affiliate” means any business entity controlling, controlled by, or under common control with any Party. For the purpose of this Section 1.1 only, “control” means
(a) the possession, directly or indirectly, of the power to direct the management or policies of a business entity, whether through the ownership of voting securities, by contract or otherwise, or (b) the ownership, directly or indirectly,
of more than fifty percent (50%) of the voting securities or other ownership interest of a business entity; provided that, if local law requires a minimum percentage of local ownership, control will be established by direct or indirect
beneficial ownership of one hundred percent (100%) of the maximum ownership percentage that may, under such local law, be owned by foreign interests. Notwithstanding anything to the contrary, for purposes of this Agreement, neither IE nor
Codexis shall be deemed to be an Affiliate of Shell Canada or Shell US, or any Affiliate of Shell US or Shell Canada. 
 1.2
“Arbitral Tribunal” has the meaning set forth in Section 2 of Schedule 11.9. 
 1.3 “Arbitration
Authority” has the meaning set forth in Section 1 of Schedule 11.9. 
 1.4 “Arbitration List” has
the meaning set forth in Section 2 of Schedule 11.9. 
 1.5 “Background Technology” means Technology
developed or acquired prior to or apart from the Program by Codexis or IE, as the case may be, that (a) is Technology outside the scope of Biocatalyst Technology, (b) Codexis or IE, as the case may be, has disclosed to the other Party to
provide information relating to the Program pursuant to Section 2.3(a)(ii) or Section 2.3(b)(ii), as applicable; and (c) is not Introduced Program Technology. 
 1.6 “Biocatalyst” means an enzyme or a Microbe that can enzymatically catalyze a particular chemical reaction. 

1.7 “Biocatalyst Technology” means any and all Technology pertaining or relating directly to the development, production
and use of Biocatalysts, as set forth below: 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 2 - 

 (a) Microbial strains, enzymes, genes and genetic material, including all samples,
compositions, analyses and data relating to such materials; 
 (b) Genetic and metabolic information, sequence
information, information relating to gene expression or metabolic processes, and information relating to biocatalyst performance and the process conditions under which biocatalysts are used; 
 (c) Shuffling Technology (other than Codexis Shuffling Technology); 
 (d) Technology for the enzymatic saccharification of pretreated Biomass; 
 (e) Technology for the fermentation and scale-up of [*] enzyme production systems (other than [*]); 
 (f) Technology for the fermentation and scale-up of [*], but solely for the purposes of, and to the extent useful in, the
fermentation and scale-up of [*] enzyme production systems (other than [*]); 
 (g) Information regarding
the characteristics and properties of pretreated Biomass, including, for example, composition, physical and/or chemical properties, and [*] and [*] for Biocatalysts present in such pretreated Biomass; and 
 (h) Technology for the production of [*] using Microbes, but solely for the purposes of, and to the extent useful in, the
development or use of [*] Microbes. 
 For the avoidance of doubt, Biocatalyst Technology does not include any Biofuel Process
Technology. The Parties each acknowledge and agree that any Technology that would be Biocatalyst Technology under this Section 1.7 and, in addition, would be Biofuel Process Technology under Section 1.8, will be deemed only to be
Biocatalyst Technology and will not, for any purpose, be Biofuel Process Technology. 
 1.8 “Biofuel Process
Technology” means any and all Technology pertaining or relating to processes or processing steps for the conversion of [*] to fuels or fuel blending components, including: [*]. For the avoidance of doubt, Biofuel Process
Technology does not include any Biocatalyst Technology. The Parties each acknowledge and agree that any Technology that would be Biofuel Process Technology under this Section 1.8 and, in addition, would be Biocatalyst Technology under
Section 1.7, will be deemed only to be Biocatalyst Technology and will not, for any purpose, be Biofuel Process Technology. 
 1.9 “Biomass” means organic, non-fossil, plant-derived matter available on a renewable basis, including, for example, crops and/or trees grown or harvested for use for fuel and/or fuel additive production, agricultural food
and feed crops, aquatic plants and, in each case, organic wastes derived from the foregoing, including without limitation municipal wastes (e.g., newspapers). By way of example and not limitation, Biomass 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 3 - 

 
includes all grown crop and plant fiber consisting primarily of cellulose, hemicellulose and lignin, such as grass, switchgrass, straw, corn stover, cane residuals, general cereal wastes and wood
chips. 
 1.10 “Blend” means a combination of a specified ratio, or of specified amounts, of particular
enzymes. For purposes of clarification, “Blend” does not include any means of producing combinations of particular enzymes simultaneously by a single host organism. 
 1.11 “Breaching Party” has the meaning set forth in Section 10.5(a). 
 1.12 “[*]” means any [*] material that was licensed by [*] and [*] (collectively,
“[*]”) to Codexis pursuant to that certain [*] Agreement dated [*] (the “Codexis-[*] Agreement”), and any [*], derivative or modification of the foregoing. 
 1.13 “[*]” means any [*], that Codexis has [*] or has derived from [*], and is identified by Codexis
in accordance with Section 4.4(a) as subject to the terms and conditions of Section 4.4(b) – Section 4.4(h), together with any [*] thereof. 
 1.14 “[*]” means any [*] that Codexis has [*] or has derived from [*], and is identified by Codexis in accordance with Section 4.4(a) as subject to the terms and
conditions of Section 4.4(b) – Section 4.4(h), together with any [*] thereof. 
 1.15 “Calendar
Year” means each respective period commencing on January 1 and ending December 31 of the relevant year. 
 1.16 “Claim Notice” has the meaning set forth in Section 9.5. 
 1.17 “Codexis Background
Technology” means Background Technology Controlled by Codexis. 
 1.18 “Codexis Biocatalyst” has the
meaning set forth in Section 4.8(a). 
 1.19 “Codexis-[*] Agreement” has the meaning set forth in
Section 1.12. 
 1.20 “Codexis Introduced Program Technology” means Introduced Program Technology
Controlled by Codexis. 
 1.21 “Codexis Jointly Invented Research Technology” has the meaning set forth in
Section 3.3(b). 
 1.22 “Codexis Research Technology” has the meaning set forth in Section 3.3.

 1.23 “Codexis Screening Technology” means (a) Technology Controlled by Codexis relating to particular
assays used to evaluate the function of Biocatalysts developed under the Program, (b) Information regarding specific genetic modifications 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 4 - 

 
to Biocatalysts and/or (c) other Information that Codexis identifies in writing as Codexis Screening Technology, that in each of (a), (b) and (c) Codexis discloses for use in the
Program in accordance with Section 2.3(a)(ii). For the avoidance of doubt, Codexis Screening Technology does not include any Codexis Shuffling Technology. The Parties each acknowledge and agree that any Technology that would be Codexis
Screening Technology under this Section 1.23 and, in addition, would be Codexis Shuffling Technology under Section 1.24, will be deemed only to be Codexis Screening Technology and will not, for any purpose, be Codexis Shuffling Technology.

 1.24 “Codexis Shuffling Technology” means Shuffling Technology owned or otherwise controlled by Codexis. For
the avoidance of doubt, Codexis Shuffling Technology does not include any Codexis Screening Technology. The Parties each acknowledge and agree that any Technology that would be Codexis Shuffling Technology under this Section 1.24 and, in
addition, would be Codexis Screening Technology under Section 1.23, will be deemed only to be Codexis Screening Technology and will not, for any purpose, be Codexis Shuffling Technology. 
 1.25 “Codexis Solely Invented Research Technology” has the meaning set forth in Section 3.3(a). 
 1.26 “Commercial Improvements” mean any and all improvements made outside of the Program that, during the period beginning
on the Effective Date and continuing until, and ending on, the [*] anniversary of the expiration of the Research Term, are (a) licensed to a Third Party by Codexis or its Affiliates, or (b) the subject of a release or covenant not
to sue extended by Codexis or its Affiliates to a Third Party, or (c) put into commercial practice by Codexis or its Affiliates, or (d) the subject of a patent application, provisional application, or like filing anywhere in the world
filed by Codexis or an Affiliate of Codexis; provided that, with respect to any provisional application, such provisional application is converted into a utility patent application. For purposes of clarification, in the event that a
provisional application disclosing an improvement is filed by Codexis or an Affiliate of Codexis during the period described in this Section 1.26, and either (i) converted into a utility patent application after expiration of such period,
or (ii) abandoned and, after expiration of such period, re-filed and then converted into a utility patent application, such disclosed improvement will be deemed to be a Commercial Improvement for purposes of this Section 1.26. 

1.27 “Confidential Information” means any and all non-public and proprietary Information that is specifically designated
as such and that is disclosed by a Party or its Affiliates to any of the other Parties or their respective Affiliates in written or other similar form in connection with this Agreement and that, if orally or visually disclosed, shall be summarized
in writing in detail and specifically designated as proprietary and such summary delivered to the receiving Party within thirty (30) days after such disclosure. 
 1.28 “Control” means, with respect to an item, Information, Patent Right or an intellectual property right, possession of the ability, whether arising by ownership or 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 5 - 

 
license or otherwise, to grant a license or sublicense as provided for under this Agreement under such item, Information, Patent Right or intellectual property right without violating the terms
of any written agreement with a Third Party. 
 1.29 “Covenanting Party” has the meaning set forth in
Section 4.4(e). 
 1.30 “Default Notice” has the meaning set forth in Section 10.4. 
 1.31 “Disputing Party” has the meaning set forth in Section 10.4. 
 1.32 “[*] Party” has the meaning set forth in Section 4.4(f). 
 1.33 “Environmental Law” has the meaning set forth in Section 9.4. 
 1.34 “Fuels Field” means the conversion of (a) Biomass into fermentable sugars, such sugars to be converted into
(i) liquid fuel and/or liquid fuel additives and/or (ii) Lubricants, and (b) fermentable sugars derived from Biomass into (i) liquid fuel and/or liquid fuel additives, and/or (ii) Lubricants. For purposes of this
Section 1.34 only, (1) “liquid” means a substance that is a liquid at a temperature of twenty-five (25) degrees Celsius under atmospheric pressure, and (2) “fuel additive” means a substance which is added to
fuel to modify the characteristics of such fuel, including, for example, biodegradability, combustibility, viscosity, performance and/or emissions profile. 
 1.35 “Hazardous Materials” has the meaning set forth in Section 9.4. 
 1.36 “Information” means data, results, evaluations, inventories, Biocatalysts, show-how, know-how, computer chip and programs, processes, machines, biological chemicals, intermediates,
trade secrets, techniques, methods, developments, materials, methods of analysis, compositions of matter, copyrights or other information. 
 1.37 “IE Background Technology” means Background Technology Controlled by IE. 
 1.38 “IE Biofuel Process Technology” means Biofuel Process Technology Controlled by IE. 
 1.39 “IE Research Technology” has the meaning set forth in Section 3.4. 
 1.40 “IE Introduced Program Technology” means Introduced Program Technology Controlled by IE. 
 1.41 “IE Jointly Invented Research Technology” has the meaning set forth in Section 3.4(b). 
 1.42 “IE Solely Invented Research Technology” has the meaning set forth in Section 3.4(a). 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 6 - 

 1.43 “International Trade Laws” has the meaning set forth in
Section 11.4. 
 1.44 “Introduced Program Technology” means Technology Controlled by Codexis or IE, as
applicable, that such Party developed or acquired prior to or apart from the Program and that such Party uses in the Program, or has disclosed for use in the Program, falling within the scope of: 
 (a) Biocatalyst Technology; or 
 (b) Any other Technology that such Party identifies (by providing notice pursuant to Section 11.10) as Introduced Program Technology, or requests (by providing notice pursuant to
Section 11.10) the other Party work on and improve within the scope of the Program. 
 Notwithstanding anything to the contrary in this
Agreement, Introduced Program Technology shall not include Codexis Shuffling Technology or IE Biofuel Process Technology. 
 1.45 “Jointly Owned Research Technology” has the meaning set forth in Section 3.6. 
 1.46
“Losses” has the meaning set forth in Section 9.1. 
 1.47 “Lubricant” means materials
compounded or blended from ingredients that are used primarily for lubrication of motor vehicles or mobile or stationary machinery or equipment, including engine oils, power steering fluids, transmission fluids, brake fluids, gear oils, shock
absorber fluids, industrial fluids, process oils, metalworking oils, cutting oils, electrical oils, hydraulic oils, railroad oils, refrigerator oils, aircraft turbine, aircraft hydraulic and aircraft engine oils, food grade oils, turbine oils,
greases and by-products of compound blending such as line wash, line clippings, cut oil and off-specification grease. 
 1.48
“Microbes” means whole (live or dead) prokaryotic organisms and/or yeasts and/or fungi or extracts thereof. Microbes shall not include land plants, including nonseed plants (Bryophytes, Tracheophytes) such as liverworts, mosses, ferns,
and seed plants, such as gymnosperms and angiosperms (monocot and dicots); and/or non-land plants, including Prasinophytes, Chlorophyceae, Trebouxiouphyceae, Ulvophyceae, Chlorokybales, Streptophyta, Klebsormidiales, Zygnematales, Charales,
Coleochaetales and Embryophytes. 
 1.49 “Non-Breaching Party” has the meaning set forth in
Section 10.5(a). 
 1.50 “Notice to Arbitrate” has the meaning set forth in Section 1 of Schedule
11.9. 
 1.51 “Out-Sourcing Party” has the meaning set forth in Section 4.7(a). 
  

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 1.52 “Oversight Committee” has the meaning set forth in
Section 2.2(a). 
 1.53 “Patent Committee” has the meaning set forth in Section 2.2(a)(viii).

 1.54 “Patent Rights” means all patent applications and patents, including provisional applications, whether
domestic or foreign, all continuations, continuations-in-part and divisions of such patent applications and of patent applications from which such patents issued, all patents issuing from any of such patent applications, and all renewals, reissues,
re-examinations and extensions of any of such patents. 
 1.55 “Permitted Products” has the meaning set forth
in Section 10.6(a). 
 1.56 “Program” means the program of activities conducted by Codexis and/or IE
and/or Shell under the terms of this Agreement during the Research Term, as further described in Research Plans. 
 1.57
“Research Plan” means a written plan to be agreed upon by the Parties describing activities to be carried out in connection with each project under the Program, which plan may be amended from time to time by agreement between the
Parties in accordance with Section 2.2(a)(ii). 
 1.58 “Research Technology” means Technology developed or
acquired by IE, Codexis and/or Shell in carrying out the Program. Notwithstanding anything to the contrary, Research Technology shall not include Codexis Shuffling Technology or IE Biofuel Process Technology. 
 1.59 “Research Term” has the meaning set forth in Section 10.1(a). 
 1.60 “Rules” has the meaning set forth in Section 1 of Schedule 11.9. 
 1.61 “Shell Agreements” means (a) the Codexis-Shell US License Agreement, (b) the Codexis-Shell US Research
Agreement, (c) the IE-Shell Canada [*] Agreement, and (d) the IE-Shell Canada [*] Agreement. 
 1.62
“Shell Biofuel Technology” means any Intellectual Property owned or controlled by Shell Canada and/or its Affiliates, or to which Shell Canada and/or its Affiliates have sub-licensable rights, that Shell Canada, in its sole discretion,
chooses to both (a) make available to IE to use in the Development Program and (b) grant IE rights to use in conjunction with the IE Technology pursuant to the terms and conditions of Section [*] of the IE-Shell Canada [*] Agreement, where
for purposes of this Section 1.62 the terms “Development Program,” “Affiliates,” “IE Technology” and “Intellectual Property” have the meanings set forth in Schedule 1.62. 
 1.63 “Shell Research Technology” means Research Technology that is owned by Shell pursuant to Section 3.5. 

 

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 1.64 “Shuffling” means the characterization, development and optimization
of genes and proteins for commercial uses through the recombination and/or rearrangement and/or mutation of genetic material for the creation of genetic diversity. 
 1.65 “Shuffling Technology” means any and all techniques, methodologies, processes, materials and/or instrumentation, including without limitation any and all Patent Rights, know-how,
confidential information and materials relating thereto, that, in each case, relates to Shuffling, and generally applicable screening techniques, methodologies, or processes of using the resulting genetic material, enzymes and Microbes to identify
potential usefulness of such genetic material, enzymes and Microbes. 
 1.66 “Technology” means and includes
all materials, technology, technical Information, intellectual property, know-how, expertise and trade secrets. 
 1.67
“Term” has the meaning set forth in Section 10.1(b).  
 1.68 “Third Party” means any
party other than Codexis, IE, Shell US, Shell Canada or any of their respective Affiliates. 
 1.69 “Third Party
Agreements” means the agreements set forth in Schedule 1.69, and which may be updated from time to time. A Party shall additionally schedule any further agreement that limits the rights to, or otherwise imposes obligations on the
utilization of, any Technology that a Party desires to disclose as Introduced Program Technology under Section 2.3(a)(iv), 2.3(b)(iv) or 2.3(c)(i), as applicable. 
 1.70 “[*]” means the species that are listed for [*] and its genetically identical equivalent [*] on the official website of [*], as of the Effective Date, set forth
in Schedule 1.70. 
 ARTICLE 2 
 PROGRAM ACTIVITIES 
 2.1 Purpose. The Parties shall conduct
the Program during the Research Term. The objective of the Program is to (a) coordinate the activities of Codexis and Shell under the Codexis-Shell US Research Agreement and the activities of IE and Shell under the IE-Shell Canada [*]
Agreement, and (b) optimize the benefits to each of Codexis and Shell under the Codexis-Shell US Agreements and the benefits to each of IE and Shell under the IE-Shell Canada Agreements, all in connection with development of biocatalytic
processes for use in the conversion of Biomass to fuels, fuel additives and Lubricants. 
  

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Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 9 - 

 2.2 Oversight Committee. 
 (a) Function. The Parties shall establish an oversight committee (the “Oversight Committee”) having the
following duties: 
 (i) set priorities for the Parties’ performance under the Program; 
 (ii) review and approve the Research Plans as proposed by the Parties under this Agreement; 
 (iii) review and evaluate progress under the Research Plans; 
 (iv) approve modifications to the Research Plans, as appropriate; 
 (v) review annual objectives for activities to be carried out under each Research Plan by the Parties; 
 (vi) coordinate, monitor and approve the exchange of Information that relates to the Program, including without limitation the
disclosure of Background Technology as further set forth in Section 2.3(d), 
 (vii) coordinate, monitor and
approve the publication of research results obtained from the Program; provided, however, that publication of research results by any Party will be consistent with each Party’s confidentiality obligations under the Shell
Agreements; provided, further, that notwithstanding anything to the contrary herein or in the Shell Agreements, each Party shall have the right to disclose research results to the extent necessary for filing any patent application in
accordance with each Party’s rights under Article 6; 
 (viii) review non-confidential summaries of Background
Technology that either Codexis or IE, as the case may be, proposes to disclose to the other Party under the Program and, considering the potential benefits to the Program and the risk of contamination to the other Parties, recommend whether such
Party’s Background Technology should be disclosed to the other Party under the Program; 
 (ix) review and approve,
for purposes of activities under the terms of this Agreement, the use of Codexis Introduced Program Technology and Codexis Solely Invented Research Technology, and IE Introduced Program Technology and IE Solely Invented Research Technology, such use
to be approved by the Party that Controls the Technology; 
 (x) establish a patent committee consisting of persons
knowledgeable in patent law and in the technology areas within the Program (the “Patent Committee”) such Patent Committee to (1) meet (for example, by telephone or in

  

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 - 10 - 

 
person) at least monthly (unless otherwise agreed by the Parties) for the purposes of discussing and coordinating the filing of patent applications and other related intellectual property matters
regarding any invention made during the Research Term in order to maximize the benefit to the Parties and (2) provide recommendations to the Oversight Committee regarding the filing of such applications and other intellectual property matters;

 (xi) if applicable, submit disputes or disagreements that it does not resolve within the time provided in
Section 2.2(e) to senior executive officers of each Party as designated by each Party, as further described in Section 2.2(e); and 
 (xii) perform such other functions as appropriate to further the purposes of this Agreement as determined by the Parties, including without limitation, for example, the appointment of subcommittees
with unique skills, as appropriate, and the periodic evaluation of performance against goals. 
 (b) Membership. Codexis,
IE and Shell, each shall appoint one (1) person to the Oversight Committee, and shall provide written notice to the other Parties of the names and contact information of such person within fifteen (15) days after the Effective Date. A
Party may appoint a temporary or permanent substitute for its member at any time, such substitution to be effective immediately upon providing written notice to the other Parties. 
 (c) Meetings. The Oversight Committee shall meet, in person, at least once during each four (4) months. During each Calendar
Year, the Oversight Committee will meet once in Ottawa, Ontario, Canada, once in Redwood City, California, USA, and once in Houston, Texas, USA, unless mutually agreed otherwise. In addition, unless otherwise agreed by the Parties, the Oversight
Committee will meet, telephonically, once per month. Representatives of the Parties, in addition to members of the Oversight Committee, may attend such meetings at the invitation of any Party. 
 (d) Minutes. The Oversight Committee shall keep accurate written minutes of its deliberations that record all proposed decisions and
all actions recommended or taken. Drafts of the minutes shall be delivered to all Oversight Committee members within ten (10) business days after each such meeting. The Party hosting the meeting shall appoint a chairperson for such meeting, and
shall be responsible for the preparation and circulation of the draft minutes. Draft minutes shall be edited within ten (10) business days after receipt of such draft minutes by each of the Parties and shall be issued in final form only after
each Party has provided its respective approval and agreement. A final copy of the minutes of each meeting, after review and modification of any draft version by each of the Parties, shall be issued no later than thirty (30) business days after
such meeting. 
 (e) Decisions. All decisions of the Oversight Committee shall be by unanimous vote or unanimous written
consent. If a disagreement among members of the Oversight Committee remains unresolved for more than thirty (30) business days after the

  

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 - 11 - 

 
Oversight Committee first addresses such matter (or such longer period as the Parties may mutually agree), such disagreement shall be submitted to senior executive officers of each Party as
designated by each Party in a written notice to the other Parties. These senior executive officers shall meet as soon as practicable and attempt in good faith to resolve the disagreement. Notwithstanding anything to the contrary, the decision of
senior executive officers, whether to agree on a course of action or disagree and take no action, will be the final resolution of any disagreement among members of the Oversight Committee regarding a matter within the scope of the duties set forth
in Section 2.2(a) above, and no disagreement among such senior executive officers regarding such a matter may be referred to the dispute resolution procedure set forth in Section 11.9. 
 (f) Expenses. Each Party shall bear any and all costs and expenses of its respective members related to their participation on the
Oversight Committee. 
 2.3 Contributions and Information Sharing. 
 (a) Codexis. 
 (i) Codexis Introduced Program Technology. Codexis, in its sole discretion, shall have the right to choose what Technology Controlled by Codexis shall be disclosed for use in the Program and thereby become Codexis Introduced Program
Technology; provided that, prior to disclosing for use in the Program any Technology that is developed under the Codexis-Shell US Research Agreement as Codexis Introduced Program Technology, Codexis shall consult with Shell US. 
 (ii) Codexis Background Technology. Subject to Section 2.3(d) below, Codexis, in its sole discretion, shall have the right to
choose what Technology Controlled by Codexis, which is outside the scope of Biocatalyst Technology, shall be disclosed for use in the Program and thereby become Codexis Background Technology. Notwithstanding anything to the contrary, Codexis
Background Technology shall not include Codexis Shuffling Technology. 
 (iii) Use of Codexis Introduced Program and
Background Technology. IE and Shell shall not use any Codexis Introduced Program Technology and/or any Codexis Background Technology except as permitted by the terms of this Agreement and, in the case of Shell, by the terms of the Codexis-Shell
US Research Agreement and the Codexis-Shell US License Agreement. 
 (iv) Third Party Agreements. On or before the
Effective Date, Codexis shall provide IE and Shell with redacted versions of the Codexis Third Party Agreements set forth on Schedule 1.69. During the Term, Codexis shall promptly provide IE and Shell with redacted versions of any Codexis Third
Party Agreements that are added to Schedule 1.69. 
  

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 (b) Iogen Energy. 
 (i) IE Introduced Program Technology. IE, in its sole discretion, shall have the right to choose what Technology Controlled by IE
shall be disclosed for use in the Program and thereby become IE Introduced Program Technology. Notwithstanding the foregoing, in the event that Shell desires any Shell Biofuels Technology to be disclosed for use in the Program, Shell shall provide
written notice thereof to IE and, upon receipt of such notice, IE shall disclose such Shell Biofuels Technology for use in the Program as IE Introduced Program Technology. 
 (ii) IE Background Technology. Subject to Section 2.3(d) below, IE, in its sole discretion, shall have the right to choose what
Technology Controlled by IE, which is outside the scope of Biocatalyst Technology, shall be disclosed for use in the Program and thereby become IE Background Technology. 
 (iii) Use of IE Introduced Program and Background Technology. Codexis and Shell shall not use any IE Introduced Program Technology and/or any IE Background Technology except as permitted by the
terms of this Agreement and, in the case of Shell, by the terms of the IE-Shell Canada [*] Agreement and the IE-Shell Canada [*] Agreement. 
 (iv) Third Party Agreements. On or before the Effective Date, IE shall provide Codexis and Shell with redacted versions of the IE Third Party Agreements set forth on Schedule 1.69. During the Term,
IE shall promptly provide Codexis and Shell with redacted versions of any IE Third Party Agreements that are added to Schedule 1.69. 
 (c) Shell. 
 (i) Third Party Agreements. On or before the Effective Date, Shell shall provide and
Codexis and IE with redacted versions of the Shell Third Party Agreements set forth on Schedule 1.69. During the Term, Shell shall promptly provide Codexis and IE with redacted versions of any Shell Third Party Agreements that are added to Schedule
1.69. 
 (d) Disclosure of Background Technology. 
 (i) Notwithstanding anything to the contrary, each Party, in its sole discretion, shall have the right to choose what portion, if
any, of its Background Technology is to be disclosed for use in the Program; provided, however, that, prior to disclosing any Background Technology, the disclosing Party will provide a non-confidential written summary of such
Background Technology to the Oversight Committee. The Oversight Committee will determine whether any of the other Parties objects to such disclosure and if, for any reason, any of the other Parties objects to such disclosure, such objected to
Background Technology will not be disclosed to the other Parties. 
  

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 (ii) The Parties acknowledge that, notwithstanding the procedure set forth in
Section 2.3(d)(i), inadvertent and accidental disclosures of Background Technology may occur. In any such event, the Parties receiving Background Technology that such receiving Parties know or learn was inadvertently and accidentally disclosed
will commit not to use such Background Technology in any program, including without limitation the Program, or for any commercial or research purpose; provided, however, that such receiving Parties will not be precluded from using any
Technology developed independently from such Background Technology. For purposes of this Section 2.3(d)(ii), the phrase “developed independently” means development by employees, consultants or independent contractors of a receiving
Party without use of or access to Background Technology of another Party, consistent with the laws of the State of New York, as applied to contracts entered into, and to be performed wholly within, the State of New York, USA. In the event that a
disclosing Party believes that another Party has misappropriated Background Technology that such disclosing Party has informed the receiving Party in writing was inadvertently and accidentally disclosed, and elects to seek a remedy for such alleged
misappropriation, such disclosing Party will bear the burden of proof to demonstrate that misappropriation actually occurred. In the event that a Party is unable to demonstrate that misappropriation of its Background Technology actually occurred,
such Party, within ten (10) days after a finding in favor of the other Party, will reimburse such other Party for [*] of the out-of-pocket costs and expenses in defense of the allegation of misappropriation, including without limitation
[*]. 
 (e) Sharing of Information. Each Party shall share and disclose all material Information generated during
the Research Term in the performance of the Program, including without limitation Research Technology and improvements and inventions relating to Codexis Introduced Program Technology or IE Introduced Program Technology. 
 2.4 Reports and Materials. 
 (a) Reports. 
 (i) During the Research Term, each Party shall
provide to the Oversight Committee: 
 (1) summary written reports within thirty (30) days after the end of each
calendar quarter after the Effective Date, describing such Party’s work and progress, if any, under each Research Plan during the just-ended calendar quarter; 
 (2) annual executive summaries within thirty (30) days after the end of each Calendar Year during the Research Term for each Research Plan for which work was performed during the just-ended
Calendar Year; 
 (3) a comprehensive written report within thirty (30) days after completion of all work under
each Research Plan, describing in detail the work

  

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accomplished under such Research Plan and discussing and evaluating the results of such work; and 
 (4) a comprehensive written report within ninety (90) days after the end of the Research Term, describing in detail the work accomplished under the Program during the Research Term and
discussing and evaluating the results of such work. 
 (ii) Any report delivered to a Party hereunder shall be owned by
the delivering Party; provided, however, that all such reports shall be deemed to be Confidential Information of the Parties for purposes of Article 7. 
 (b) Materials. During the Research Term, each Party shall furnish samples of biochemical, biological or synthetic chemical materials to any of the other Parties that are part of Introduced Program
Technology or Research Technology and that are necessary for the other Party to carry out its responsibilities under a Research Plan and, at the time of furnishing any sample, the Party providing such sample shall provide notice thereof to Shell.
The transfer of any such materials from a Party to any of the other Parties shall be under the terms set forth on Schedule 2.4(b). 
 2.5 Laboratory Facility and Personnel. Each Party shall be responsible, at its own cost and expense, for providing suitable laboratory facilities, equipment and personnel for the work to be done by such Party in carrying out the
Research Plans. It is understood and agreed that the work to be conducted by a Party under this Agreement may be carried out by its Affiliates and/or independent contractors, as such Party may determine or, in the case of IE, [*], as IE may
determine; provided that all such work shall be conducted, and the rights and obligations of the Parties with respect to such work, shall be governed by the terms and conditions set forth in this Agreement. 
 2.6 Efforts. Each Party shall use commercially reasonable efforts during the Research Term to perform that part of the Program for
which such Party is responsible, pursuant to the terms and conditions of this Agreement, and to complete such tasks in compliance with the applicable Research Plan. Notwithstanding the foregoing, nothing in this Agreement shall prevent Codexis or IE
from carrying out any research, development or other activity independent of the Program, and such independent activity shall be outside the scope of this Agreement. 
 2.7 Acknowledgement and Waiver. Shell US acknowledges that work to be conducted by Codexis under this Agreement will be in the Fuels Field. Shell US hereby (a) waives, solely with respect to
this Agreement, the requirement under the Codexis-Shell US Research Agreement and the Codexis-Shell US License Agreement, including in particular Sections 3.2 and 9.3 of the Codexis-Shell US Research Agreement, that Codexis act exclusively with
Shell US, and conduct research, discovery and development activities, in the Fuels Field only with Shell US and Affiliates of Shell US, and (b) agrees that Codexis will not be in breach of its obligations to Shell US under either the
Codexis-Shell US Research Agreement or the Codexis-Shell US License Agreement by reason of 
  

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 - 15 - 

 
(i) entering into this Agreement and/or (ii) conducting work under the terms of this Agreement, including, without limitation, the grant of rights to IE under Section 4.1. 

ARTICLE 3 
 OWNERSHIP OF TECHNOLOGY 
 3.1 Codexis Background and Codexis Introduced Program Technology. Subject to
the rights expressly granted to IE under the terms and conditions of this Agreement, and subject to the rights expressly granted to Shell US under the terms and conditions of the Codexis-Shell US License Agreement and the Codexis-Shell US Research
Agreement, Codexis owns or otherwise controls, and shall own or otherwise control, all right, title and interest in, to and under any and all Codexis Background Technology and Codexis Introduced Program Technology. 
 3.2 IE Background and IE Introduced Program Technology. Subject to the rights expressly granted to Codexis under the terms and
conditions of this Agreement, and subject to the rights expressly granted to Shell Canada under the terms and conditions of the IE-Shell Canada [*] Agreement and the IE-Shell Canada [*] Agreement, IE owns or otherwise controls, and
shall own or otherwise control, all right, title and interest in, to and under any and all IE Background Technology and IE Introduced Program Technology. 
 3.3 Codexis Research Technology. 
 (a) Codexis solely owns all
Research Technology invented by Codexis, or by Codexis and Shell jointly, in either case, whether by an employee(s) or a consultant(s), as determined under U.S. patent law (“Codexis Solely Invented Research Technology”). 

(b) Codexis solely owns Research Technology invented by Codexis and IE jointly, either with or without Shell, whether by an
employee(s) or a consultant(s) to such Party(ies), as determined under U.S. patent law, in the following categories (“Codexis Jointly Invented Research Technology”): 
 (i) process Technology for the [*] other than [*]; 
 (ii) genes and enzymes useful in the [*], including without limitation Technology regarding the (1) use of such genes
and enzymes and (2) production of such genes and enzymes [*], other than (A) genes and enzymes that originate from [*] and (B) Technology regarding the use of any such gene or enzyme where such Technology does not
include a [*] (other than genes or enzymes that originate from [*] and/or [*]); 
  

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 (iii) gene expression and gene expression systems that [*]; provided,
however, that if such Technology is applicable to both expression systems that [*], ownership of such Technology shall be governed by [*]; 
 (iv) methods of developing novel [*]; and 
 (v) genes,
enzymes, pathways and Microbes related to [*], including without limitation [*], methods of use, pathway engineering of such [*], engineered genes useful in such [*] and pathways and methods of making and culturing such
[*], excluding [*]. 
 (c) Codexis Solely Invented Research Technology and Codexis Jointly Invented
Research Technology are collectively referred to as “Codexis Research Technology.”  
 3.4 IE Research
Technology. 
 (a) IE solely owns all Research Technology invented by IE, or by IE and Shell jointly, in either
case, whether by an employee(s) or a consultant(s), as determined under U.S. patent law (“IE Solely Invented Research Technology”). 
 (b) IE solely owns all Research Technology invented by Codexis and IE jointly, either with or without Shell, whether by an employee(s) or a consultant(s) to such Party(ies), as determined under
U.S. patent law, in the following categories (“IE Jointly Invented Research Technology”): 
 (i) [*]
processes or Technology to [*] and the [*] by such process or Technology; 
 (ii) process Technology
for the [*] that are [*]; 
 (iii) process Technology for the production and recovery of [*],
including any and all processes relating to [*]; 
 (iv) process Technology for the [*] to the extent such
Technology is not covered in any other [*] and [*]; 
 (v) genes and enzymes that (1) originate from
[*] and (2) are useful in the [*], including without limitation Technology regarding the (A) use of such genes and enzymes and (B) production of such genes and enzymes in [*]; 
 (vi) Technology regarding the use of any gene or enzyme useful in the [*] of Biomass where such Technology does not include a
[*] (other than use of genes or enzymes that originate from [*] and/or [*]); 
 (vii) gene
expression and gene expression systems but only to the extent that such Technology is limited to expression systems that [*]; 
  

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 (viii) [*]; and 
 (ix) genes, enzymes, pathways and Microbes related to [*] solely to the extent that such Technology is applicable only to
[*], including without limitation [*], methods of use, pathway engineering of such [*], engineered genes useful in such [*] and pathways and methods of making and culturing such [*]. 
 (c) IE Solely Invented Research Technology and IE Jointly Invented Research Technology are collectively referred to as “IE
Research Technology.”  
 3.5 Shell Research Technology. Shell solely owns all Research Technology invented
solely by Shell, whether by an employee(s) or a consultant(s), as determined under U.S. patent law. 
 3.6 Jointly Owned
Research Technology. All Research Technology not falling within the scope of Section 3.3, Section 3.4 or Section 3.5 shall be: 
 (a) jointly owned by Codexis and IE (“Jointly Owned Research Technology”); 
 (b) deemed Confidential Information hereunder, with no obligation on any Party or Parties to summarize or designate any Jointly Owned Research Technology as confidential, notwithstanding
Section 1.27 to the contrary; and 
 (c) utilized by the Parties only as set forth in Article 4 of this Agreement;
provided, however, that nothing herein shall restrict a Party from any use incident to preparation or filing of a patent application as permitted under the terms of Article 6. 
 3.7 Assignments. As may be reasonably requested, each of the Parties shall sell, assign, deliver, convey, transfer and set
over, and hereby sells, assigns, delivers, conveys, transfers and sets over, to another Party or to other Parties such of its right, title and interest in and to any Research Technology as may be necessary to conform the legal title in the same with
the ownership set forth in Section 3.3, 3.4 or 3.6. 
 3.8 No Implied License. No grant of an ownership interest to
a Party pursuant to this Article 3 with respect to Research Technology shall be construed as granting that owning Party any additional license under any other Technology controlled by another Party, even if necessary, or desirable, to practice such
Research Technology. For the avoidance of doubt, the grant of ownership to Codexis with respect to Codexis Research Technology under Section 3.3 shall not be construed as granting any license or right under any Patent Right or Technology
Controlled by IE, and the grant of ownership to IE of IE Research Technology under Section 3.4 shall not be construed as granting any license or right under any Patent Right or Technology Controlled by Codexis. 
  

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 ARTICLE 4 
 LICENSES; COORDINATION OF AGREEMENTS 
 4.1 To Iogen
Energy. 
 (a) Research Activities License. Subject to the terms and conditions of this Agreement, and subject
to the terms and conditions of the Codexis Third Party Agreements, Codexis hereby grants to IE a non-exclusive royalty- and payment-free license under (i) Codexis Introduced Program Technology, (ii) Codexis Background Technology,
(iii) Codexis Research Technology, and (iv) Jointly Owned Research Technology, in each case, only to conduct research activities under the Program during the Research Term. For purposes of clarification, no right or interest is granted by
Codexis to IE under or with respect to Codexis Shuffling Technology. 
 (b) IE Rights and Obligations in Fuels
Field. Each of Codexis, IE, Shell US and Shell Canada hereby acknowledges and agrees that IE’s rights and obligations with respect to the utilization, in the Fuels Field, of any and all Codexis Introduced Program Technology, Codexis
Research Technology, Jointly Owned Research Technology and IE Jointly Invented Research Technology, will be governed by the terms and conditions of this Agreement, and the terms and conditions of the IE-Shell Canada [*] Agreement as specified
in this Section 4.1(b) below, subject to the terms and conditions of the Codexis Third Party Agreements and the limitations of the Codexis-Shell US Research Agreement and the Codexis-Shell US License Agreement, in all instances, as Codexis
disclosed to IE as of the Effective Date; provided, however, that to the extent that there is a specific conflict between a provision of this Agreement and a provision of the Codexis-Shell US Research Agreement or the Codexis-Shell US
License Agreement, then the provisions of this Agreement shall prevail. 
 (i) Codexis Introduced Program Technology
and Codexis Research Technology. IE’s rights to utilize any and all Codexis Introduced Program Technology in the Fuels Field, and to utilize any and all Codexis Research Technology in the Fuels Field, will be governed by the IE-Shell Canada
[*] Agreement, as follows: 
 (1) The Codexis Introduced Program Technology and the Codexis Research Technology
will be deemed to be Shell Biofuel Technology; and 
 (2) The license (including the right to sublicense) granted by
Shell Canada to IE under the IE-Shell Canada [*] Agreement will apply to such Shell Biofuel Technology, but will be limited to the Fuels Field. 
 (ii) Jointly Owned Research Technology and IE Jointly Invented Research Technology. IE’s rights to utilize any and all Jointly Owned Research Technology in the Fuels Field, and to
utilize any and all IE Jointly Invented Research Technology in the Fuels Field, will be governed by the IE-Shell Canada [*] Agreement, as follows: 
  

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 (1) The Jointly Owned Research Technology and the IE Jointly Invented Research
Technology will be deemed to be Shell Biofuel Technology; and 
 (2) The license (including the right to sublicense)
granted by Shell Canada to IE under the IE-Shell Canada [*] Agreement will apply to such Shell Biofuel Technology, but will be limited to the Fuels Field. 
 (iii) IE Solely Invented Research Technology. IE will have the right to freely utilize any and all IE Solely Invented Research Technology, in the Fuels Field, without any payment or royalty
obligation to any of the other Parties to this Agreement. 
 (iv) Commercial Improvements. IE’s rights to
utilize any and all Commercial Improvements to any and all Biocatalysts that are derived from Research Technology disclosed to Shell and IE pursuant to Section 4.5 in the Fuels Field will be governed by the IE-Shell Canada [*] Agreement as
follows: 
 (1) such Commercial Improvements will be deemed Shell Biofuel Technology; and 
 (2) the license (including the right to sublicense) granted by Shell Canada to IE under the IE-Shell Canada [*] Agreement
will apply to such Shell Biofuel Technology, but will be limited to the Fuels Field. 
 (c) IE Rights Outside Fuels
Field. 
 (i) Codexis Research Technology and Codexis Introduced Program Technology. Subject to the terms and
conditions of this Agreement, and subject to the terms and conditions of the Codexis Third Party Agreements, Codexis hereby grants to IE and its Affiliates a non-exclusive, royalty- and payment-free license, with the right to grant sublicense
rights, under Codexis Research Technology and Codexis Introduced Program Technology, excluding, in each case, any and all Patent Rights within such Technologies, for use outside the Fuels Field solely to the extent that such Codexis Research
Technology and such Codexis Introduced Program Technology is necessary to produce and/or to utilize any Biocatalyst developed in the Program and owned or otherwise controlled by IE, other than any Biocatalyst that originated as a Biocatalyst
contained within Codexis Introduced Program Technology and/or Codexis Research Technology. 
 (ii) Jointly Owned
Research Technology and IE Research Technology. Subject to the terms and conditions of the Codexis Third Party Agreements, IE will have the right to utilize any and all Jointly Owned Research Technology and IE Research Technology outside
the Fuels Field without any payment or royalty obligation to any of the other Parties to this Agreement. 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 20 - 

 (d) Shell Research Technology. Shell Research Technology shall be
deemed Shell Biofuel Technology governed by the IE-Shell Canada [*] Agreement. 
 4.2 To Codexis.

 (a) Research Activities License to Codexis. Subject to the terms and conditions of this Agreement, and subject
to the terms and conditions of the IE Third Party Agreements, IE hereby grants to Codexis and its Affiliates a non-exclusive royalty- and payment-free license under (i) IE Introduced Program Technology, (ii) IE Background Technology,
(iii) IE Research Technology, and (iv) Jointly Owned Research Technology, in each case, only to conduct research activities under the Program during the Research Term. 
 (b) Codexis Rights and Obligations in Fuels Field. Each of Codexis, IE, Shell US and Shell Canada hereby acknowledges and
agrees that Codexis’ rights and obligations with respect to the utilization of any and all IE Jointly Invented Research Technology in the Fuels Field, will be governed by the provisions of this Section 4.2(b). 
 (i) Subject to the terms and conditions of this Agreement and subject to the terms and conditions of the IE Third Party Agreements,
IE hereby grants to Codexis a license limited to the right to grant sublicense rights solely to Shell US and its Affiliates under IE Jointly Invented Research Technology to manufacture, have manufactured, use, sell, offer for sale and import
products within the Fuels Field, on a worldwide basis; such limited license neither granting to Codexis, nor permitting Codexis to reserve for Codexis, any right or license to manufacture, have manufactured, use, sell, offer for sale or import any
product under any IE Jointly Invented Research Technology, within the Fuels Field, or to otherwise utilize or practice any IE Jointly Invented Research Technology within the Fuels Field. Codexis and Shell US each acknowledge and agree that the
sublicense rights received by Shell under this Section 4.2(b)(i) that are the subject of the limited license granted by IE to Codexis pursuant to this Section 4.2(b)(i) under IE Jointly Invented Research Technology shall be deemed to be
Program Patent Rights and Program Licensed Technology (as defined in the Codexis-Shell US License Agreement), as applicable. 
 (ii) Notwithstanding anything in this Agreement to the contrary, IE covenants and agrees not to grant any right or license to Shell, or to an Affiliate of Shell, under IE Jointly Invented Research Technology in the Fuels Field.
Insofar as the foregoing covenant not to grant any right or license to Shell, or to an Affiliate of Shell, may be inconsistent with the license(s) granted by IE to Shell Canada under the terms of the IE-Shell Canada [*] Agreement, Shell
Canada and IE agree that the provisions of this Section 4.2(b)(ii) shall control. 
 (iii) Notwithstanding anything
in this Agreement to the contrary, in the event that Shell, or an Affiliate of Shell, [*], the limited license granted by IE to Codexis pursuant to Section 4.2(b)(i) will, as of the effective date of such acquisition, be converted
automatically, without the requirement of any action by IE,

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 21 - 

 
Shell or Codexis, to an exclusive license, subject to terms and conditions of the IE Third Party Agreements, the Codexis-Shell US License Agreement and this Agreement. Insofar as the foregoing
may be inconsistent with the license(s) granted by IE to Shell Canada under the terms of the IE-Shell Canada [*] Agreement, Shell Canada and IE each acknowledge and agree that the provisions of this Section 4.2(b)(iii) shall control.

 (iv) Notwithstanding anything to the contrary in the Codexis-Shell US License Agreement, in the event that Shell or
an Affiliate of Shell asserts that no payment is due to Codexis under the terms of the Codexis-Shell US License Agreement, or that the payment due to Codexis is less than the amount calculated under the terms of the Codexis-Shell US License
Agreement based on an argument that Codexis does not own or otherwise control IE Jointly Invented Research Technology (exclusive of any other argument, assertion or contention, including but not limited to any argument, assertion or contention made
in regard to any dispute concerning whether Technology constitutes IE Jointly Invented Research Technology), Codexis shall have the right, but not the obligation, to terminate the Codexis-Shell US License Agreement. 
 (v) In the event that IE or an Affiliate of IE asserts that no payment is due to Codexis, or that the payment due to Codexis is less
than the amount calculated under the terms of the Codexis-Shell US License Agreement, based on an express argument that Codexis does not own IE Jointly Invented Research Technology (exclusive of any other argument, assertion or contention, including
but not limited to any argument, assertion or contention made in regard to any dispute concerning whether Technology constitutes IE Jointly Invented Research Technology), IE agrees to assign, and hereby assigns, to Codexis all Patent Rights in IE
Jointly Invented Research Technology, with Codexis’s and IE’s rights to utilize such Patent Rights being subject to the terms and conditions of the IE Third Party Agreements, the Codexis-Shell US License Agreement and this Agreement.

 The Parties agree that the terms of Section 4.2(b)(i)-(v) above (A) are intended to ensure that Codexis receives economic
benefits from Shell US in respect of IE Jointly Invented Research Technology under the Codexis-Shell US License Agreement, and (B) notwithstanding anything in this Agreement to the contrary, shall not negatively affect the economic benefits to
be received by IE from Shell Canada under the terms of the IE-Shell Canada [*] Agreement in respect of IE Jointly Invented Research Technology that is the subject of the limited rights granted by IE to Codexis, as set forth in this
Section 4.2(b). 
 (c) Codexis Rights Outside Fuels Field. 
 (i) IE Research Technology and IE Introduced Program Technology. Subject to the terms and conditions of this Agreement, and subject
to the terms and conditions of the IE Third Party Agreements, IE hereby grants to Codexis and its Affiliates a non-exclusive, royalty- and payment-free license, with the right to grant sublicense rights, under IE Research Technology and IE
Introduced Program Technology, excluding, in each case, any and all Patent Rights within such Technologies,

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 22 - 

 
for use outside the Fuels Field solely to the extent that such IE Research Technology and such IE Introduced Program Technology is necessary to (A) produce and/or to utilize any Biocatalyst
developed in the Program by use of Codexis Shuffling Technology or (B) develop, produce and/or utilize any Biocatalyst that is the subject of a Commercial Improvement that is disclosed to Shell and IE pursuant to Section 4.5. 

(ii) IE Jointly Invented Research Technology. Subject to the terms and conditions of this Agreement, and subject to the
terms and conditions of the IE Third Party Agreements, IE hereby grants to Codexis and its Affiliates a non-exclusive, royalty- and payment-free license, with the right to grant sublicense rights, under IE Jointly Invented Research Technology with
respect to Blends developed in the Program for use outside the Fuels Field. 
 (iii) Jointly Owned Research
Technology and Codexis Research Technology. Subject to the terms and conditions of the IE Third Party Agreements, Codexis will have the right to utilize any and all Jointly Owned Research Technology and Codexis Research Technology outside the
Fuels Field without any payment or royalty obligation to any of the other Parties to this Agreement. 
 4.3 To Shell.

 (a) Research Activities License. 
 (i) Subject to the terms and conditions of this Agreement, and subject to the terms and conditions of the Codexis Third Party Agreements, Codexis hereby grants to Shell and its Affiliates a
non-exclusive royalty- and payment-free license under (i) Codexis Introduced Program Technology, (ii) Codexis Background Technology, (iii) Codexis Research Technology, and (iv) Jointly Owned Research Technology, in each case,
only to conduct research activities under the Program during the Research Term. For purposes of clarification, no right or interest is granted by Codexis to Shell or any of its Affiliates under or with respect to Codexis Shuffling Technology.

 (ii) Subject to the terms and conditions of this Agreement, and subject to the terms and conditions of the IE Third
Party Agreements, IE hereby grants to Shell and its Affiliates a non-exclusive license under (i) IE Introduced Program Technology, (ii) IE Background Technology, (iii) IE Research Technology, and (iv) Jointly Owned Research
Technology, in each case, only to conduct research activities under the Program during the Research Term. 
 (b) Shell
Rights to Research Technology Controlled by Codexis. Any and all Codexis Research Technology and any and all of Codexis’ interest in Jointly Owned Research Technology shall be deemed licensed to Shell US as Program Patent Rights and Program
Licensed Technology under the Codexis-Shell US License Agreement. 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 23 - 

 (c) Shell Rights to Research Technology Controlled by IE. Any and all IE
Research Technology shall be deemed licensed to Shell Canada as IE Foreground Technology under the IE-Shell Canada [*] Agreement. 
 4.4 Restrictions Related to [*]. 
 (a) Codexis shall identify
in writing any material as a [*], and any [*] as a [*], prior to disclosing such [*] for use in the Program. In the event that Codexis determines, after disclosure of any [*] or any [*] without identifying
such [*] or such [*] as a [*] or a [*], that a disclosed [*] or a disclosed [*] should have been identified as a [*] or as a [*], as applicable, Codexis shall provide written notice thereof to
IE and Shell and such [*] or [*], as the case may be, shall thereafter be deemed to be [*] or [*], as applicable; provided that any use of any such [*] or any such [*] that does not comply with terms
and conditions of Sections 4.4(b) – (h) prior to the date of the notice described in this sentence shall not be a breach of this Agreement. 
 (b) Each of IE and Shell and their respective Affiliates shall not (i) make any derivative or any modification of any [*], or any [*], or any [*] (including without
limitation any [*]) incorporated in any [*], in each case, that is transferred by Codexis, directly or indirectly, to IE or to Shell, or (ii) reverse engineer any [*], or any [*], or any [*] incorporated in
any [*], in each case, that is transferred by Codexis, directly or indirectly, to IE or to Shell. In addition, IE and Shell each acknowledges and agrees that, with respect to any [*], any [*], and any [*] (including
without limitation any [*]) incorporated into any [*], in each case, that is transferred by Codexis, directly or indirectly, to IE or to Shell, the terms of this Agreement are subordinate to the terms of the Codexis-[*]
Agreement disclosed to IE and Shell. 
 (c) Each and every sublicense agreement entered into by IE, Shell or any of
their respective Affiliates that includes (i) any grant of rights relating to any [*], any [*], or any [*] (including without limitation any [*]) incorporated into any [*], in each case, that is transferred by
Codexis, directly or indirectly, to IE or to Shell, or (ii) the transfer of any [*], any [*], or any [*] (including without limitation any [*]) incorporated into any [*], in each case, that is transferred by
Codexis, directly or indirectly, to IE or to Shell, shall (A) include an express prohibition preventing the (1) making of any derivative or modification of such [*], or such [*] or such [*] incorporated in a
[*], or (2) reverse engineering of such [*], or such [*] or such [*], incorporated in a [*], and (B) be subordinate to the terms of the Codexis-[*] Agreement disclosed to IE and Shell. 

(d) For purposes of this Section 4.4, “reverse engineering” means the identification, modification, derivatization
or other manipulation of genetic material, including for example any gene, portion of any gene, promoter, regulator, inducer, metabolic pathway, metabolomics, trancriptomics, secretion signal, vector, plasmid, protein, compound, or other material.

 (e) Notwithstanding anything to the contrary, IE and Shell each hereby covenants and agrees, and shall cause its
Affiliates (as defined in Section 1.1) and Third

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 24 - 

 
Party (as defined in Section 1.68) sublicensees (each, a “Covenanting Party”) to covenant and agree in a written agreement, not to commence, aid, prosecute or cause to be
commenced or prosecuted any legal action or other proceeding against [*] or any of its Affiliates (as defined in Schedule 4.4(e)), or any of its or their successors and assigns, licensees, sublicensees, distributors or customers, wherein any
Covenanting Party alleges infringement (direct or contributory) or inducement of infringement of any Patent (as defined in Schedule 4.4(e)) claiming any Improvement (as defined in Schedule 4.4(e)) that was made by, or under the authority of, Codexis
or any Covenanting Party during the Term (as defined in Schedule 4.4(e)). Codexis covenants and agrees that it will provide written notice to IE and to Shell of the expiration or termination of the Codexis-[*] Agreement promptly after the
effective date of such expiration or termination. The assertion of any such Patent by a Covenanting Party against any Affiliate (as defined in Schedule 4.4(e)) of [*] or any licensee, sublicensee, distributor or customer of [*] or any
of its Affiliates (as defined in Schedule 4.4(e)) (each of the foregoing, a “[*] Party”) that has not been identified to IE or to Shell, as applicable, by Codexis in writing shall not be deemed to breach the covenant set forth in
this Section 4.4(e); provided that the applicable Covenanting Party ceases such assertion, and any and all legal proceedings relating thereto, within fifteen (15) days after written notice from Codexis identifying such Third Party
(as defined in Section 1.68) as a [*] Party. Codexis agrees to provide to IE and Shell the identities of any [*] Parties known to Codexis. 
 (f) IE and Shell each (i) acknowledges and agrees, and shall cause each of their respective Affiliates (as defined in Section 1.1) and Third Party (as defined in Section 1.68)
licensees and sublicensees to acknowledge and agree, that [*] is and shall be a third party beneficiary of the covenants set forth in this Section 4.4, and (ii) agrees, and shall cause each of their respective Affiliates (as defined
in Section 1.1) and Third Party (as defined in Section 1.68) licensees and sublicensees to agree, (A) not to assign, sell or otherwise transfer any Patent (as defined in Schedule 4.4(e)) covered by the covenants and agreements set
forth in this Section 4.4 to a Third Party (as defined in Section 1.68) unless such Third Party agrees to be bound by the covenants and agreements set forth in this Section 4.4, and (B) that any such sale, assignment or transfer
in contravention of the requirement set forth in this Section 4.4(f) shall be deemed void and ineffective. 
 (g) In
the event that [*] requests that a copy of this Agreement, or any sublicense agreement entered into by IE or its Affiliates, be provided to an independent law firm pursuant to Section [*] of the Codexis-[*] Agreement, Codexis
shall promptly notify IE in writing. Codexis agrees not to use any law firm for this purpose that is objected to by IE that IE identifies in writing within two (2) business days of receipt of such notification from Codexis, provided that in
such notice, IE provides a reasonable basis for each such objection. 
 (h) In the event that Codexis receives notice
from [*] that [*] believes that IE or any Affiliate or sublicensee of IE has used or is using any [*] or any [*], in a manner that is inconsistent with the terms of the Codexis-[*] Agreement, Codexis shall

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 25 - 

 
promptly notify IE. Thereafter, Codexis and IE shall mutually cooperate to resolve [*] concerns. 
 4.5 Grant Back. Subject to the terms and conditions of this Agreement, the Codexis Third Party Agreements and the Codexis-Shell US License Agreement, Codexis shall disclose to Shell and IE in
writing any material improvement that qualifies as a Commercial Improvement to any and all Biocatalysts that are derived from Research Technology. Codexis shall make such disclosures at Oversight Committee meetings and, in the event that the
Oversight Committee is disbanded or ceases to meet as described in Section 2.2(c), at least semi-annually. Codexis and Shell hereby agree that any Commercial Improvement to any such Biocatalysts shall be deemed to be Program Patent Rights and
Program Licensed Technology for purposes of the Codexis-Shell US License Agreement; provided that, if any such Commercial Improvement was developed after the term of the Codexis-Shell US Research Agreement, Shell US’s license rights with
respect to such Commercial Improvement shall be non-exclusive. Any Biocatalyst subject to the license grant in this Section 4.5 will be deemed to be a Codexis Biocatalyst; provided that the time period set forth in Section 4.8(c)(A) for
such Codexis Biocatalyst shall be the [*] year anniversary of the date of disclosure of such Codexis Biocatalyst pursuant to this Section 4.5. 
 4.6 Codexis as Permitted Third Party. IE shall approve Codexis as a Permitted Third Party (under Section 2.2(d) of the IE-Shell Canada [*] Agreement) to manufacture Biocatalysts
developed using IE Background Technology, IE Introduced Program Technology or IE Research Technology (other than Biocatalysts that are derived from Biocatalysts that originated as IE Introduced Program Technology). 
 4.7 Right of First Negotiation – Biocatalyst Manufacturing. 
 (a) Codexis Right of First Negotiation. In the event that any Out-Sourcing Party seeks to out-source the manufacture of any
particular Biocatalyst introduced into the Program by Codexis or developed during the Research Term using Codexis Shuffling Technology (other than a Biocatalyst that is derived from a Biocatalyst that originated as IE Introduced Program Technology),
for use in a facility where Shell or an Affiliate of Shell, individually or collectively, is not [*] in such facility or [*], the Out-Sourcing Party, for a [*] year period following the expiration or termination of the Research
Term, shall provide written notice to Codexis and Codexis shall have a right of first negotiation for the manufacture of such particular Biocatalyst, under the terms and conditions of a separate Biocatalyst supply agreement which will be negotiated.
For purposes of this Section 4.7(a), “Out-Sourcing Party” shall mean IE or any Affiliate of IE (other than Shell or any Affiliate of Shell), or any Third Party that has been granted license rights, directly or indirectly, from
IE or any Affiliate of IE (other than Shell or an Affiliate of Shell). The date of Codexis’ receipt of such written notice from the Out-Sourcing Party will be the start of a ninety (90) day period during which, upon Codexis’ election,
the terms and conditions of such supply agreement will be negotiated regarding the Biocatalyst identified in such written notice. If mutually acceptable terms and

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 26 - 

 
conditions have not been agreed prior to the end of such ninety (90) day period, the Out-Sourcing Party will be free to negotiate with Third Parties for the manufacture of such particular
Biocatalyst, but may not enter into any agreement for such manufacture under terms and conditions that are less favorable to the Out-Sourcing Party than the terms and conditions last offered to Codexis; provided, however, that, for the
avoidance of doubt, such terms and conditions will include all business considerations as taken from the Out-Sourcing Party’s perspective. 
 (b) No Change to Existing Rights. For purposes of clarification, except as expressly set forth in this Section 4.7, nothing in this Agreement is intended to modify Codexis’ rights
under Section 2.4 of the Codexis-Shell US License Agreement. In particular, without limiting the generality of the foregoing, in the event that IE or its Affiliates or its licensees, as applicable, desires to outsource the manufacture of a
Biocatalyst developed through the use of Codexis Shuffling Technology (other than Biocatalysts that are derived from Biocatalysts that originated as IE Introduced Program Technology) in any facility other than a facility described in
Section 4.7(a), Codexis’ rights under Section 2.4 of the Codexis-Shell US License Agreement shall apply with respect to such outsourcing. 
 (c) Exception. In the event that Shell, or an Affiliate of Shell, [*] either (i) the power to [*], or (ii) the [*], Codexis’ right of first negotiation under Section 4.7(a) will
be governed solely by the provisions of Section 2.4 of the Codexis-Shell US License Agreement. Notwithstanding anything to the contrary in the preceding sentence, for so long as Iogen Corporation is a licensee of IE and not [*], the rights of
Iogen Corporation and its licensees, other than Shell and Affiliates of Shell, will continue to be governed by the provisions of Section 4.7(a). 
 4.8 Derivatives of Codexis Program Technology. 
 (a) IE covenants and
agrees that it and its Affiliates, and its and its Affiliates’ licensees (other than Shell and its Affiliates), shall not modify or otherwise create, by use of any recombinant or other directed mutagenesis technology, any derivative of any
Biocatalyst that originates from (i) Codexis Introduced Program Technology, (ii) Research Technology developed by use of Codexis Shuffling Technology (other than Biocatalysts that originated from IE), or (iii) IE Introduced Program
Technology and/or IE Background Technology incorporated into any [*] or combined with any [*] (a Biocatalyst originating from any of (i), (ii) and (iii) is referred to as a “Codexis Biocatalyst”). For
purposes of clarification, the rights of Shell and its Affiliates with respect to modification or creation of any derivative of a Codexis Biocatalyst are governed by Section 9.4 of the Codexis-Shell US Research Agreement and Section 7.3 of
the Codexis-Shell US License Agreement. Notwithstanding the first sentence of this Section 4.8(a), in the event that (A) IE or any Affiliate of IE requests (whether such request comes directly from IE or an Affiliate of IE, or from Shell
on behalf of IE or an Affiliate of IE) that Codexis modify or otherwise create a derivative of any Codexis Biocatalyst in accordance with the provisions of Section 9.4 of the Codexis-Shell US

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 27 - 

 
Research Agreement and Section 7.3 of the Codexis-Shell US License Agreement, and (B) Codexis is unwilling or unable to perform such modification or otherwise create such a derivative
under terms that are (1) consistent with or below the full time equivalent (FTE) rates Codexis has most recently agreed to charge Shell for comparable work, including without limitation any calendar- and/or inflation-based escalators, and
(2) commercially reasonable with respect to the market-based, good faith expectations of IE or any Affiliate of IE regarding resource commitment requirements, including for example FTE person hours and equipment time required, then Codexis
shall so notify Shell US, IE or the Affiliate of IE, as applicable, in writing and IE or the Affiliate of IE, as the case may be, may modify or otherwise create the derivative of such Codexis Biocatalyst requested by Shell US, IE or the Affiliate of
IE, as applicable; provided, however, that IE or the Affiliate of IE, as the case may be, must modify or otherwise create such derivative using its own, internal resources, and may not engage or otherwise use a Third Party or an
independent contractor to modify or otherwise create such derivative; provided further that such modification or creation of derivatives of Codexis Biocatalysts is not inconsistent with the rights, obligations and restrictions set
forth in the Codexis Third Party Agreements; provided further that, in the event that Shell or an Affiliate of Shell [*], then the rights of IE and any Affiliate of IE, as the case may be, to modify or create any derivative of
any Codexis Biocatalyst will be governed solely by the provisions of Section 9.4 of the Codexis-Shell US Research Agreement and Section 7.3 of the Codexis-Shell US License Agreement as applied to IE and any Affiliate of IE, mutatis
mutandis. For purposes of clarification, notwithstanding the above, IE, any Affiliate of IE, and any sublicensee of IE or an Affiliate of IE (other than Shell and its Affiliates) may make derivatives from any Biocatalyst that originated solely
from an IE Biocatalyst, including without limitation Biocatalysts jointly developed by IE and Codexis; provided that such Biocatalyst is not incorporated into any [*] or combined with any [*]. 
 (b) In the event that IE modifies or otherwise creates any derivative of any Codexis Biocatalyst in accordance with the terms of
Section 4.8(a), IE agrees to grant, and hereby grants to Codexis, subject to the terms and conditions of the IE Third Party Agreements, a license limited to the right to grant sublicense rights solely to Shell US and its Affiliates under
intellectual property Controlled by IE directed to such modified or otherwise created Codexis Biocatalyst to manufacture, have manufactured, use, sell, offer for sale and import products within the Fuels Field, on a worldwide basis; such limited
license neither granting to Codexis, nor permitting Codexis to reserve for Codexis, any right or license to manufacture, have manufactured, use, sell, offer for sale or import any product under such intellectual property, within the Fuels Field, or
to otherwise utilize or practice any such intellectual property within the Fuels Field. Codexis and Shell US each acknowledge and agree that the sublicense rights received by Shell under this Section 4.8(b) that are the subject of the limited
license granted by IE to Codexis pursuant to this Section 4.8(b) shall be deemed to be Program Patent Rights and Program Licensed Technology (as defined in the Codexis-Shell US License Agreement), as applicable. In addition, IE agrees that the
following terms shall apply to the intellectual property that is the subject of the license granted in this Section 4.8(b): (i) IE covenants and agrees not to grant any right or license to Shell, or to an Affiliate of Shell, under such
intellectual

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 28 - 

 
property in the Fuels Field, (ii) IE covenants and agrees that, in the event Shell or an Affiliate of Shell [*] either (A) the power to [*], or (B) the [*], IE
shall not, itself, utilize such intellectual property to make, use or sell Biocatalysts for any commercial purpose; provided that [*] shall have no impact on the rights of IE with respect to the granting of rights to Third Parties to
manufacture, have manufactured, use, sell, offer for sale and import any such Biocatalyst in the Fuels Field in effect immediately prior to [*], and (iii) in the event that IE, or an Affiliate of IE, asserts that no payment is due to
Codexis, or that the payment due to Codexis is less than the amount calculated under the terms of the Codexis-Shell US License Agreement based on an express argument that Codexis does not own such intellectual property (exclusive of any other
argument, assertion or contention, including but not limited to any argument, assertion or contention made in regard to any dispute concerning whether such intellectual property is properly subject to this section), IE shall assign such intellectual
property to Codexis. 
 (c) Notwithstanding the terms of Section 4.8(a), provided that Shell or an Affiliate of
Shell has not [*] either (i) the power to [*], or (ii) the [*], then IE shall have a right, after the later of (A) the [*] year anniversary of the expiration or termination of the Codexis-Shell US Research
Agreement and (B) the [*] year anniversary of the Effective Date, to modify or otherwise create derivatives of Codexis Biocatalysts; provided, however, that such modification or creation of derivatives of Codexis
Biocatalysts is not inconsistent with the rights, obligations and restrictions set forth in the Codexis Third Party Agreements. 
 (d) Notwithstanding anything in this Agreement to the contrary, the limitations on IE regarding the modification or creation of any derivative of any Biocatalyst, as set forth in this Section 4.8, shall not reduce IE’s
right to modify or create any such derivative to less than the rights enjoyed by an unlicensed Third Party to modify or create any such derivative under Canadian law; provided, however that IE will not use any Codexis Introduced Program Technology,
Codexis Background Technology or Research Technology developed by use of Codexis Shuffling Technology that is Codexis Confidential Information; provided further that IE will not use any materials provided by Codexis, directly or indirectly, to IE or
any Affiliate of IE; provided further that to the extent that the practice of such derivative or modification requires the use of any Codexis Introduced Program Technology, Codexis Background Technology or Research Technology developed by use of
Codexis Shuffling Technology that is the subject of a license grant to IE, IE will not use any such modification or derivative for any commercial purpose without the prior written consent of Codexis. 
 4.9 No Other Rights. Except as expressly provided in this Agreement, no right, title or interest is granted by any Party to any other
Party, by implication or otherwise. Further, all licenses and other rights provided herein are subject and subordinate to any and all prior Third Party Agreements containing terms either overlapping or in conflict therewith. 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 29 - 

 ARTICLE 5 
 PAYMENTS 
 5.1 Royalties – Fuels Field.
The Parties acknowledge and agree that the Program to be conducted under the terms of this Agreement is for the purpose of coordinating the activities of, and to optimize the benefits to each of, Codexis, IE and Shell under the Shell Agreements. For
purposes of clarification, the economic benefit to be received as a consequence of conducting the Program is as follows: 
 (a) By Codexis From Shell. Shell shall make payments to Codexis pursuant to and in accordance with the terms of the Codexis-Shell US License Agreement for exercise by Shell, Affiliates of Shell and licensees of Shell,
including without limitation IE, Affiliates of IE and sublicensees of IE, of license rights with respect to Codexis Introduced Program Technology, Codexis Research Technology, Jointly Owned Research Technology and IE Jointly Invented Research
Technology under the IE-Shell Canada [*] Agreement. 
 (b) By IE From Shell. Shell shall make payments to
IE pursuant to and in accordance with the terms of the IE-Shell Canada [*] Agreement for Shell Canada’s exercise of license rights with respect to IE Solely Invented Research Technology, IE Jointly Invented Research Technology and
Jointly Owned Research Technology under that agreement. 
 (c) By Codexis From IE. 
 (i) In the event that IE, or its Affiliates or sublicensees, uses IE Jointly Invented Research Technology, but does not use any
Codexis Introduced Program Technology or any Codexis Research Technology, in the Fuels Field, IE shall pay to Codexis any and all payments due to Codexis pursuant to Schedule 5.1(c). 
 (ii) In the event that the Codexis-Shell US License Agreement terminates, and Codexis grants to IE a non-exclusive license under
Codexis Introduced Program Technology and Codexis Research Technology, as further described in Section 10.6(a), and IE, or its Affiliates or sublicensees, uses such Codexis Introduced Program Technology, and/or such Codexis Research Technology,
in the Fuels Field, IE shall pay to Codexis any and all payments due to Codexis pursuant to Schedule 5.1(c). 
 (iii)
Notwithstanding anything in this Agreement to the contrary, apart from royalties owed under Codexis Third Party Agreements, no more than one royalty payment shall be due Codexis, either directly under this Agreement, or indirectly through the
Codexis-Shell US License Agreement, the IE-Shell Canada [*] Agreement, this Agreement and the license grant set forth in Section 10.6(a) of this Agreement, based on the sale or transfer, by IE, its Affiliates and sublicensees, of any
product under any Technology licensed directly or indirectly under the Codexis-Shell US

  

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License Agreement, the IE-Shell Canada [*] Agreement, this Agreement and the license grant set forth in Section 10.6(a) of this Agreement 
 5.2 Payments Due Under Third Party Agreements. In the event that any Third Party is due any payment under any Third Party
Agreement as a result of the exercise of rights granted to a Party under the terms and conditions of this Agreement, such Party shall be responsible for any and all such payments in accordance with the terms and conditions of such applicable Third
Party Agreement. 
 5.3 Mode of Payment. All payments made pursuant to Schedule 5.1(c) and/or for use of any
Technology licensed to Codexis under the Codexis-[*] Agreement are due within thirty (30) days after the end of each calendar quarter. Such payments shall be made by direct wire transfer of United States Dollars in immediately available
funds in the requisite amount to such bank account as the other Party may from time to time designate by written notice. Payments will be free and clear of any taxes (and net of any withholding and other taxes imposed on the payee), fees or charges,
to the extent applicable. IE’s payment obligations under the Codexis-[*] Agreement shall be limited to those payment obligations disclosed to IE in the redacted Codexis-[*] Agreement. 
 5.4 Reporting and Audit Requirements. IE shall comply with the reporting requirements and audit rights imposed upon Codexis in
the Codex-[*] Agreement with respect to [*] and [*], and upon Shell in the Codexis-Shell US License Agreement, as applicable. Upon notice, IE and Codexis each shall comply with the reporting requirements and audit rights imposed
in other Third Party Agreements as may be applicable. 
 ARTICLE 6 
 PATENT PROSECUTION AND MAINTENANCE 
 6.1 Notification; Coordination of Patent Filings. In addition to the responsibilities set forth in Section 2.2(a)(x), the Patent Committee will have responsibility for reviewing
inventorship for inventions within the Research Technology, as determined under U.S. patent law, in accordance with the terms of this Article 6. Prior to or upon filing any patent application with respect to any invention within the Research
Technology, each Party shall provide written notice to each of the other Parties. Such notice shall include, without limitation, a description of the invention in detail reasonably adequate to characterize such invention and the inventors of such
invention. In addition, within thirty (30) days after the end of each calendar quarter, each Party shall provide the other Parties with a report detailing patent applications filed and patent applications that it plans to file in the upcoming
calendar quarter, in each case with respect to any Research Technology, in order to permit the Patent Committee to coordinate the filing of patent applications and other related intellectual property matters regarding any invention made during the
Research Term in order to maximize the benefit to the Parties. 
  

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 6.2 Filing, Prosecution and Maintenance of Codexis Research Technology. 

(a) With respect to any Codexis Research Technology, Codexis shall have the right, but not an obligation, to: 
 (i) prepare, file and prosecute patent applications covering such Technology; 
 (ii) respond to oppositions, nullity actions, re-examinations, revocation actions and similar proceedings filed against Patent
Rights for such Technology; and 
 (iii) maintain in force any such Patent Rights, including by filing all necessary
papers and paying any required fees. 
 (b) Without prejudice to the rights of IE or Shell under law, it is understood
and agreed that Codexis shall have the right, but not the obligation, to initiate and prosecute oppositions, nullity actions, re-examinations, revocation actions and similar proceedings against Patent Rights owned by Third Parties that may limit the
ability of the Parties to exploit any Codexis Research Technology. 
 6.3 Filing, Prosecution and Maintenance of IE Research
Technology. 
 (a) With respect to any IE Research Technology, IE shall have the right, but not an obligation,
to: 
 (i) prepare, file and prosecute patent applications covering such Technology; 
 (ii) respond to oppositions, nullity actions, re-examinations, revocation actions and similar proceedings filed against Patent
Rights for such Technology; and 
 (iii) maintain in force any such Patent Rights, including by filing all necessary
papers and paying any required fees. 
 (b) Without prejudice to the rights of Codexis or Shell under law, it is
understood and agreed that IE shall have the right, but not the obligation, to initiate and prosecute oppositions, nullity actions, re-examinations, revocation actions and similar proceedings against Patent Rights owned by Third Parties that may
limit the ability of the Parties to exploit any IE Research Technology. 
 6.4 Filing, Prosecution and Maintenance of Jointly
Owned Research Technology. 
  

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 (a) With respect to any Jointly Owned Research Technology, IE and Codexis shall, upon
the request of either, determine, after consideration of recommendations of the Patent Committee and the Oversight Committee, whether Codexis or IE shall undertake the matters described in this Section 6.4 and, thereafter, such designated Party
shall discuss with the other Party and, after such discussion, consider the comments and suggestions of such other Party and undertake the following matters: 
 (i) prepare, file and prosecute patent applications covering such Jointly Owned Research Technology; 
 (ii) respond to oppositions, nullity actions, re-examinations, revocation actions and similar proceedings filed against Patent Rights for such Jointly Owned Research Technology; and 
 (iii) maintain in force any such Patent Rights, including by filing all necessary papers and paying any required fees. 

(b) The Party designated by the Parties to undertake work under this Section 6.4 shall use reasonable commercial efforts to
conduct the prosecution and, after issuance, to maintain Patent Rights for such Jointly Owned Research Technology, in a reasonable and diligent manner. 
 (c) Without prejudice to the rights of IE or Codexis under law, it is understood and agreed that Codexis, IE or Shell shall individually have the right, but not the obligation, to initiate and
prosecute oppositions, nullity actions, re-examinations, revocation actions and similar proceedings against Patent Rights owned by Third Parties that may limit the ability of the Parties to exploit any Jointly Owned Research Technology. In the event
that any Party elects to exercise its rights under this Section 6.4(c), such Party shall provide written notice to the other Parties and shall keep the other Parties advised of the status of the matter not less than semi-annually or as
otherwise mutually agreed. 
 (d) Without prejudice to the rights of IE or Codexis under law, it is understood and agreed
that in the event that the Party designated by Codexis and IE to undertake the matters described in this Section 6.4, as set forth in Section 6.4(a), decides not to further prosecute or maintain any Patent Right covering Jointly Owned
Research Technology, such designated Party will first notify the other Party and give such other Party the option of prosecuting and maintaining such Patent Right covering Jointly Owned Research Technology. In such a case, the initially designated
Party shall make reasonable commercial efforts to provide such notice not less than sixty (60) days in advance of any pending administrative date and the other Party shall exercise such option within thirty (30) days after receipt of
notice. 
  

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 6.5 Assistance. 
 (a) Each of Codexis and Shell shall cooperate fully with, and take all necessary actions reasonably requested by IE in connection with
the preparation, prosecution and maintenance of any Patent Right within the IE Research Technology. 
 (b) Each of IE and
Shell shall cooperate fully with, and take all necessary actions reasonably requested by Codexis in connection with the preparation, prosecution and maintenance of any Patent Right within the Codexis Research Technology. 
 (c) Each of IE, Codexis and Shell shall cooperate fully with, and take all necessary actions reasonably requested by Codexis or IE,
as the case may be, in connection with the preparation, prosecution and maintenance of any Patent Right within the scope of Section 6.4. 
 6.6 Reimbursement of Costs for Filing, Prosecuting and Maintaining Patent Rights. 
 (a) As between Codexis and IE, Codexis shall pay any and all costs and expenses in connection with the preparation, filing, prosecution and maintenance of Patent Rights within the Codexis Research Technology. 
 (b) As between Codexis and IE, IE shall pay any and all costs and expenses in connection with the preparation, filing, prosecution
and maintenance of Patent Rights within the IE Research Technology. 
 (c) As between Codexis and IE, Codexis and IE
shall jointly and equally pay any and all reasonable costs and expenses in connection with the preparation, filing, prosecution and maintenance of Patent Rights within the Jointly Owned Research Technology. 
 6.7 Enforcement of Licensed Patents. 
 (a) In the event that Codexis reasonably believes that any Patent Right within the IE Research Technology is being infringed by a Third Party, Codexis shall promptly notify IE and provide IE with
evidence thereof. As between the Parties, IE shall have the sole right to enforce the Patent Rights within the IE Research Technology with respect to such infringement, or to defend any declaratory judgment action with respect thereto, at IE’s
cost and expense. 
 (b) In the event that IE reasonably believes that any Patent Right within the Codexis Research
Technology is being infringed by a Third Party, IE shall promptly notify Codexis and provide Codexis with evidence thereof. As between the Parties, Codexis shall have the sole right to enforce the Patent Rights within the Codexis Research Technology
with respect to such infringement, or to defend any declaratory judgment action with respect thereto, at Codexis’ cost and expense. 
  

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 (c) In the event that IE or Codexis reasonably believes that any Patent Right within
the Jointly Owned Research Technology is being infringed by a Third Party, then the knowledgeable Party shall promptly notify the other and provide evidence thereof. The Parties shall discuss and mutually agree upon any actions to be taken to remedy
such infringement, or to defend any declaratory judgment action with respect thereto. 
 6.8 Cooperation. Each Party
agrees to cooperate with the other Parties as reasonably requested by such other Parties, at such other Parties’ expense, in connection with the activities undertaken pursuant to this Article 6. 
 6.9 Coordination with Shell Agreements. The Parties acknowledge and agree that nothing in this Article 6 is intended to modify any of
the rights and obligations of any Party under any of the Shell Agreements. 
 ARTICLE 7 
 CONFIDENTIALITY 
 7.1 Confidentiality Obligations. The Parties agree that, during the Term and for ten (10) years thereafter, all Confidential Information disclosed by one Party to the other Party(ies) hereunder shall be received and maintained
by the receiving Party and its Affiliates in strict confidence, shall not be used for any purpose other than the purposes expressly permitted by this Agreement, and shall not be disclosed to any Third Party. The obligations of confidentiality and
non-use set forth in the first sentence of this Section 7.1 will not apply to any information to the extent that it can be established by the receiving Party that such information: 
 (a) was already known to the receiving Party or its Affiliates at the time of disclosure without restriction as to confidentiality or
use, as evidenced by records of the receiving Party and its Affiliates; 
 (b) was generally available to the public or
was otherwise part of the public domain at the time of its disclosure to the receiving Party or its Affiliates; 
 (c)
became generally available to the public or otherwise becomes part of the public domain after its disclosure and other than through any fault of the receiving Party or its Affiliates in breach of this Agreement; 
 (d) was subsequently lawfully disclosed to the receiving Party or its Affiliates by a Third Party without restriction as to
confidentiality or use, and other than in contravention of a confidentiality obligation of such Third Party, whether based on contract or a fiduciary or other similar obligation, to the disclosing Party or its Affiliates; or 
 (e) is independently developed by employees, consultants and/or independent contractors of the receiving Party or its Affiliates
without reliance upon or

  

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access to Confidential Information of the disclosing Party or its Affiliates, as evidenced by records of the receiving Party and its Affiliates. 
 Each Party represents and warrants that it has or will obtain written agreements from each of its employees, consultants and independent contractors who
perform work on the Program or otherwise have a need to know the other Party’s Confidential Information, which agreements will obligate such persons to obligations of confidentiality and non-use no less restrictive than those assumed by the
Parties herein, and to assign to such Party all inventions made by such persons during the course of performing any tasks associated with the Program. Further, each Party represents and warrants that those of its employees which perform work on the
Program or otherwise have a need to know the other Party’s Confidential Information are bound by obligations of confidentiality and non-use to the employer Party. Each Party may disclose Confidential Information of the other Party(ies) to such
Party’s Affiliates, provided that any such Affiliate agrees prior to such disclosure to be bound by obligations of confidentiality and non-use no less restrictive than those assumed by such disclosing Party herein. 
 Notwithstanding the foregoing, a Party may disclose the terms of this Agreement and information relating to the Program in confidence solely on a
need-to-know basis to potential or actual collaborators, partners, or licensees (including without limitation potential sublicensees), who prior to disclosure must agree to be bound by obligations of confidentiality and non-use no less restrictive
than the obligations set forth in this Article 7; and/or in confidence to potential or actual investment bankers, advisors (including without limitation financial advisors and accountants), investors, lenders, acquirers, merger partners, or other
potential financial or strategic partners, and their attorneys and agents, on a need to know basis; provided, however, that the receiving Party shall remain responsible for any failure by any Third Party who receives Confidential
Information pursuant to this Section 7.1 to treat such Confidential Information as required under this Article 7. 
 Notwithstanding this
Article 7, the receiving Party may disclose any Confidential Information of the disclosing Party that the receiving Party is required to disclose under applicable laws or regulations or an order by a court or other regulatory body having competent
jurisdiction; provided, however, that except where impracticable, the receiving Party shall give the disclosing Party reasonable advance notice of such disclosure requirement (which shall include a copy of any applicable subpoena or
order) and shall afford the disclosing Party a reasonable opportunity to oppose, limit or secure confidential treatment for such required disclosure. In the event of any such required disclosure, the receiving Party shall disclose only that portion
of the Confidential Information of the disclosing Party that the receiving Party is legally required to disclose and, in the event a protective order is obtained by the disclosing Party, nothing in this Article 7 shall be construed to authorize the
receiving Party to use or disclose any disclosing Party Confidential Information to parties other than such court or regulatory body or beyond the scope of the protective order. 
  

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Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
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 7.2 Harmonization with Licenses. The obligations of confidentiality and
non-use set forth in this Article 7 shall not be construed as limiting the right of any Party to exercise any license granted it under this Agreement or the Shell Agreements. 
 7.3 Publicity. Except to the extent required by law or regulation, no Party shall make any public announcements concerning
this Agreement or the terms hereof without the prior written consent of the other Parties, and the Parties shall agree on the content and timing of any such public announcement. This Agreement does not give any Party the right to use the trademarks
of any other Party. 
 ARTICLE 8 
 REPRESENTATIONS AND WARRANTIES 
 8.1 Representations by
Codexis. Codexis represents and warrants that, as of the Effective Date: (a) it is duly organized and validly existing under the laws of the jurisdiction of its incorporation and has full corporate power and authority to enter into
this Agreement; (b) it is in good standing with all relevant governmental authorities; (c) it has taken all corporate actions necessary to authorize the execution and delivery of this Agreement and the performance of its obligations under
this Agreement; (d) the performance of its obligations under this Agreement, including without limitation, the grant of any rights under the terms of this Agreement, does not conflict with, and will not constitute a default under, any of its
charter documents, any agreement, commitment or arrangement with any Third Party, or any court order; and (e) it has provided redacted versions of each of the Codexis Third Party Agreements, and none of the information redacted from any of the
Codexis Third Party Agreements is necessary for IE or Shell to comply with obligations under the terms and conditions of (i) this Agreement or (ii) the sublicense requirements under any Codexis Third Party Agreement for which Codexis may
grant rights to IE or Shell under this Agreement. In addition, Codexis represents, warrants and covenants that (A) it will provide a redacted version of each of Codexis Third Party Agreements added to Schedule 1.69 after the Effective Date, and
none of the information redacted from any of such Codexis Third Party Agreements will be necessary for IE or Shell to comply with obligations under the terms and conditions of (1) this Agreement or (2) the sublicense requirements under any
such Codexis Third Party Agreement for which Codexis may grant rights to IE or Shell under this Agreement; (B) as of the date that Codexis discloses any Codexis Introduced Program Technology or Codexis Background Technology for use in the
Program, it has the right to make the grants set forth in this Agreement with respect to such Technology; and (C) as of the date that Codexis discloses any Codexis Introduced Program Technology or Codexis Background Technology for use in the
Program, it is not aware of, and has not been served with, any suit or action pending in any court against Codexis, alleging patent infringement based on the use of such Codexis Introduced Program Technology or Codexis Background Technology, as the
case may be, by Codexis or any Affiliate or licensee of Codexis, and Codexis has not received any communications or notice alleging any such patent infringement. 
  

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 8.2 Representations by IE. IE represents and warrants that, as of the
Effective Date: (a) it is duly organized and validly existing under the laws of the jurisdiction of its incorporation and has full corporate power and authority to enter into this Agreement; (b) it is in good standing with all relevant
governmental authorities; (c) it has taken all corporate actions necessary to authorize the execution and delivery of this Agreement and the performance of its obligations under this Agreement; (d) the performance of its obligations under
this Agreement, including without limitation, the grant of any rights under the terms of this Agreement, does not conflict with, and will not constitute a default under, any of its charter documents, any agreement, commitment or arrangement with any
Third Party, or any court order; (e) it has provided redacted versions of each of the IE Third Party Agreements, and none of the information redacted from any of the IE Third Party Agreements is necessary for Codexis or Shell to comply with
obligations under the terms and conditions of (i) this Agreement or (ii) the sublicense requirements under any IE Third Party Agreement for which IE may grant rights to Codexis or Shell under this Agreement. In addition, IE represents,
warrants and covenants that (A) each employee of Iogen Bio-Products Corporation is under an obligation to (1) assign to Iogen Bio-Products Corporation, or to IE, the entire right, title and interest in, to and under any and all
intellectual property generated pursuant to the terms of this Agreement, and (2) maintain, not use and not disclose Confidential Information of Codexis and/or Shell in accordance with terms and conditions no less restrictive than as set forth
in Article 7; (B) Iogen Bio-Products Corporation is under an obligation to assign to IE its entire right, title and interest in, to and under any and all intellectual property generated pursuant to the terms of this Agreement, (C) it will
provide a redacted version of each of IE Third Party Agreements added to Schedule 1.69 after the Effective Date, and none of the information redacted from any of such IE Third Party Agreements will be necessary for Codexis or Shell to comply with
obligations under the terms and conditions of (1) this Agreement or (2) the sublicense requirements under any such IE Third Party Agreement for which IE may grant rights to Codexis or Shell under this Agreement; (D) as of the date
that IE discloses any IE Introduced Program Technology or IE Background Technology for use in the Program, it has the right to make the grants set forth in this Agreement with respect to such Technology; and (E) as of the date that IE discloses
any IE Introduced Program Technology or IE Background Technology for use in the Program, it is not aware of, and has not been served with, any suit or action pending in any court against IE, alleging patent infringement based on the use of such IE
Introduced Program Technology or IE Background Technology, as the case may be, by IE or any Affiliate or licensee of IE, and IE has not received any communications or notice alleging any such patent infringement. 
 8.3 Representations by Shell. Shell represents and warrants that, as of the Effective Date: (a) it is duly organized and validly
existing under the laws of the jurisdiction of its incorporation and has full corporate power and authority to enter into this Agreement; (b) it is in good standing with all relevant governmental authorities; (c) it has taken all corporate
actions necessary to authorize the execution and delivery of this Agreement and the performance of its obligations under this Agreement; (d) the performance of its obligations under this Agreement, including without limitation, the 

 

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
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grant of any rights under the terms of this Agreement, does not conflict with, and will not constitute a default under, any of its charter documents, any agreement, commitment or arrangement with
any Third Party, or any court order; and (e) it has provided complete, but redacted, versions of each of the Shell Third Party Agreements, and none of the information redacted from any of the Shell Third Party Agreements is necessary for
Codexis or IE to comply with obligations under the terms and conditions of (i) this Agreement or (ii) the sublicense requirements under any Shell Third Party Agreement for which Shell may grant rights to Codexis or IE under this Agreement.
In addition, Shell represents, warrants and covenants that it will provide a complete, but redacted, version of each of Shell Third Party Agreements added to Schedule 1.69 after the Effective Date, and none of the information redacted from any of
such Shell Third Party Agreements will be necessary for Codexis or IE to comply with obligations under the terms and conditions of (A) this Agreement or (B) the sublicense requirements under any such Shell Third Party Agreement for which
Shell may grant rights to Codexis or IE under this Agreement. 
 8.4 Disclaimer of Warranties. EXCEPT AS SPECIFICALLY SET
FORTH IN SECTION 8.1, 8.2 AND 8.3, NONE OF THE PARTIES MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR USE, NON-INFRINGEMENT, AND ANY
OTHER STATUTORY WARRANTY. 
 ARTICLE 9 
 INDEMNIFICATION 
 9.1 Employees and Property. Each Party (each, the
“Indemnitor”) shall indemnify, defend and hold the other Parties and their Affiliates and their respective agents, employees, consultants, officers and directors (the “Indemnitees”) harmless from and against any and
all liability, damage, loss, cost or expense (including without limitation reasonable attorneys’ fees) (collectively “Losses”), arising from any claims or suits arising from (a) bodily injuries, including without
limitation fatal injury or disease, to the Indemnitor’s employees, and (b) damage to tangible, real or personal property of Indemnitor and/or Indemnitor’s employees arising from or in connection with the performance of this Agreement;
except, in any such case, for Losses to the extent, and only to the extent, reasonably attributable to the applicable Indemnitee having committed an act or acts of gross negligence, recklessness or willful misconduct. 
 9.2 Third Parties. 
 (a) Indemnification by Codexis. Codexis shall indemnify, defend and hold the IE Indemnitees and the Shell Indemnitees harmless from and against any and all Losses arising out of any Third Party claims or suits arising from:

  

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 (i) breach by Codexis of any of its representations, warranties or covenants under
this Agreement; or 
 (ii) Codexis’ failure to perform its obligations under this Agreement; or 
 (iii) any action or non-action by any IE Indemnitees alleged to be inconsistent with any Third Party Agreement listed under the
“Codexis” heading on Schedule 1.69, where such action or non-action is not inconsistent with the terms of this Agreement; or 
 (iv) the negligence or willful misconduct of Codexis or its Affiliates, and its or their directors, officers, agents, employees, sublicensees or consultants. 
 None of the foregoing indemnification obligations of Codexis shall apply to any Loss to the extent, and only to the extent, such Loss is reasonably
attributable to a breach by IE, or by Shell, as applicable, of its representations, warranties or covenants set forth in this Agreement or the IE Indemnitees, or the Shell Indemnitees, as applicable, having committed an act or acts of gross
negligence, recklessness or willful misconduct. 
 (b) Indemnification by IE. IE shall indemnify, defend and hold
the Codexis Indemnitees and the Shell Indemnitees harmless from and against any and all Losses arising out of any Third Party claims or suits arising from: 
 (i) breach by IE of any of its representations, warranties or covenants under this Agreement; or 
 (ii) IE’s failure to perform its obligations under this Agreement; or 
 (iii) any action or non-action by any Codexis Indemnitees alleged to be inconsistent with any Third Party Agreement listed under the “IE” heading on Schedule 1.69, where such action or non-action is not inconsistent with
the terms of this Agreement; or 
 (iv) the negligence or willful misconduct of IE or its Affiliates, and its or their
directors, officers, agents, employees, sublicensees or consultants. 
 None of the foregoing indemnification obligations of IE shall apply to
any Loss to the extent, and only to the extent, such Loss is reasonably attributable to a breach by Codexis, or by Shell, as applicable, of its representations, warranties or covenants set forth in this Agreement or the Codexis Indemnitees, or the
Shell Indemnitees, as applicable, having committed an act or acts of gross negligence, recklessness or willful misconduct. 
  

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Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
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 (c) Indemnification by Shell. Shell shall indemnify, defend and hold the
Codexis Indemnitees and the IE Indemnitees harmless from and against any and all Losses arising out of any Third Party claims or suits arising from: 
 (i) breach by Shell of any of its representations, warranties or covenants under this Agreement; or 
 (ii) Shell’s failure to perform its obligations under this Agreement; or 
 (iii) the negligence or willful misconduct of Shell or its Affiliates, and its or their directors, officers, agents, employees, sublicensees or consultants. 
 None of the foregoing indemnification obligations of Shell shall apply to any Loss to the extent, and only to the extent, such Loss is reasonably attributable to a breach by Codexis, or by IE, as
applicable, of its representations, warranties or covenants set forth in this Agreement or the Codexis Indemnitees, or the IE Indemnitees, as applicable, having committed an act or acts of gross negligence, recklessness or willful misconduct.

 9.3 IE-Shell Intellectual Property Indemnifications. 
 (a) IE Indemnification of Shell. In addition to the foregoing indemnities, IE shall indemnify, defend and hold the Shell
Indemnitees harmless from and against any and all Losses arising out of any Third Party claims or suits arising, during the Term, from infringement of intellectual property rights owned or otherwise controlled by such Third Party by the practice of
the IE Introduced Program Technology or the IE Solely Invented Research Technology in the Fuels Field pursuant to the terms of this Agreement; provided that IE’s indemnification obligations pursuant to this Section 9.3(a) shall not
extend to: 
 (i) any intellectual property provided to IE or any Affiliate of IE by or on behalf of Codexis or any
Affiliate of Codexis, or to improvements made by IE or any Affiliate of IE to such intellectual property; or 
 (ii) any
intellectual property provided to IE or any Affiliate of IE by or on behalf of Shell or any Affiliate of Shell, or to improvements made by IE or any Affiliate of IE to such intellectual property; or 
 (iii) any infringement arising specifically from the combination by Shell, Codexis and/or any Indemnitees of either or both, of any
item of IE Introduced Program Technology or IE Solely Invented Research Technology, with any other Technology, including without limitation other item or items of IE Introduced Program Technology, other IE Solely Invented Research Technology and/or
publicly-known Technology; 
  

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 provided, further, that IE’s indemnification obligations pursuant to this
Section 9.3(a) shall be limited for any particular Loss to [*] where, for purposes of clarity, such [*] shall not include attorneys’ fees; provided, further, that IE’s indemnification obligations pursuant
to this Section 9.3(a) shall be limited for all Losses to [*] where, for purposes of clarity, such [*] shall not include attorneys’ fees. IE and Shell shall cooperate, including by making such disclosures as are mutually
considered appropriate, with respect to the intellectual property rights of Third Parties relative to the indemnification set forth in this Section 9.3(a). 
 None of the foregoing indemnification obligations of IE shall apply to any Loss to the extent, and only to the extent, such Loss is reasonably attributable to a breach by Shell of its representations,
warranties or covenants set forth in this Agreement, or the Shell Indemnitees having committed an act or acts of gross negligence, recklessness or willful misconduct. 
 (b) Shell Indemnification of IE. In addition to the foregoing indemnities, Shell shall indemnify, defend and hold the IE Indemnitees harmless from and against any and all Losses arising out
of any Third Party claims or suits arising, during the Term, from infringement of intellectual property rights owned or otherwise controlled by such Third Party by the practice of any Shell Biofuel Technology that Shell directs IE to introduce into
the Program in accordance with the last sentence of Section 2.3(b)(i) or the Shell Research Technology, in the Fuels Field, pursuant to the terms of this Agreement; provided that Shell’s indemnification obligations pursuant to this
Section 9.3(b) shall not extend to: 
 (i) any intellectual property provided to Shell or any Affiliate of Shell by
or on behalf of Codexis or any Affiliate of Codexis, or to improvements made by Shell or any Affiliate of IE to such intellectual property; or 
 (ii) any intellectual property provided to Shell or any Affiliate of Shell by or on behalf of IE or any Affiliate of IE, or to improvements made by Shell or any Affiliate of Shell to such
intellectual property; or 
 (iii) any infringement arising specifically from the combination by Shell or any
Indemnitees of Shell, of any item of any Shell Biofuel Technology that Shell directs IE to introduce into the Program in accordance with the last sentence of Section 2.3(b)(i) or the Shell Research Technology, with any other Technology,
including without limitation other item or items of Shell Biofuel Technology that Shell directs IE to introduce into the Program in accordance with the last sentence of Section 2.3(b)(i) or the Shell Research Technology and/or publicly-known
Technology; 
 provided, further, that Shell’s indemnification obligations pursuant to this Section 9.3(b) shall be
limited for any particular Loss to [*] where, for purposes of clarity, such [*] shall not include attorneys’ fees; provided, further, that Shell’s indemnification obligations pursuant to this Section 9.3(b)
shall be limited for all Losses to [*] where, for purposes of clarity, such [*] shall not include attorneys’ fees. Shell and IE shall cooperate, including

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 42 - 

 
by making such disclosures as are mutually considered appropriate, with respect to the intellectual property rights of Third Parties relative to the indemnification set forth in this
Section 9.3(b). 
 None of the foregoing indemnification obligations of Shell shall apply to any Loss to the extent, and only to the
extent, such Loss is reasonably attributable to a breach by IE of its representations, warranties or covenants set forth in this Agreement, or the IE Indemnitees having committed an act or acts of gross negligence, recklessness or willful
misconduct. 
 9.4 Environmental. Notwithstanding any other indemnification obligation in this Agreement, and in
addition to any rights that Codexis, IE or Shell may have under relevant federal, state, or local statutory and common laws, Codexis shall fully indemnify, defend and hold IE and its Affiliates and Shell and its Affiliates, IE shall fully indemnify,
defend and hold Codexis and its Affiliates and Shell and its Affiliates, and Shell shall fully indemnify, defend and hold Codexis and its Affiliates and IE and its Affiliates, harmless from and against any and all Losses incurred as a result of
Environmental Matters relating to the activities under this Agreement; provided, however, that this indemnification shall not apply to the extent any such Losses result from the acts or omissions of personnel of the indemnified Party
or its Affiliates which occur at any site of the indemnified Party or the site of any supplier of the indemnified Party. For purposes of this Section 9.4, “Environment Matters” shall mean: 
 (a) the operation by the indemnifying Party, its Affiliates, sublicensees or subcontractors of any site or facility in a manner that
is not in compliance with and in violation of any Environmental Law; 
 (b) any release of Hazardous Materials into the
environment by the indemnifying Party, its Affiliates, sublicensees or subcontractors; or any Hazardous Materials that have been Disposed of at a site of the indemnifying Party or any site of any supplier (other than a Party as supplier) of the
indemnifying Party or other site or facility operated by the indemnifying Party, its Affiliates or its subcontractors, as the term Disposed is defined in applicable Environmental Laws; 
 (c) any failure to obtain or maintain all permits and provide all notices required by Environmental Laws for the lawful operation of
any site of the indemnifying Party or any site of any supplier of the indemnifying Party or other facilities or sites operated by the indemnifying Party, its Affiliates, sublicensees or subcontractors; and 
 (d) any other actual or alleged act or omission relating to the handling or disposal of Hazardous Materials at any site of the
indemnifying Party or any site of any supplier (other than a Party as supplier) of the indemnifying Party or the handling or disposal of Hazardous Materials by the indemnifying Party, its Affiliates, sublicensees or subcontractors at any other
facility or site. 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 43 - 

 For purposes of this Section 9.4, “Environmental Law” shall mean any treaty, law,
ordinance, regulation or order of any jurisdiction, relating to environmental matters, including without limitation, but not limited to, matters governing air pollution; water pollution; the use, handling, reporting, release, storage, transport, or
disposal of Hazardous Materials as defined herein above; exposure to or discharge of Hazardous Materials; occupational safety and health; and public health. 
 For purposes of this Section 9.4, “Hazardous Materials” includes, but is not limited to, air contaminant, water pollutant, hazardous material, hazardous waste, hazardous substance,
toxic and hazardous substance, medical waste, infectious waste, “chemicals known to the State of California to cause cancer or reproductive toxicity”, asbestos and PCB’s, as such substances are defined under any applicable federal,
state or local statute, regulation, rule or ordinance. 
 Notwithstanding anything in this Section 9.4 to the contrary, the indemnification
obligation of IE to Shell and its Affiliates shall not apply to any site or facility operated by IE, or its Affiliates, licensees or subcontractors, on behalf of Shell and its Affiliates, including without limitation the [*] facility proposed
for [*] and the facility [*] facility; indemnities as to such facilities will be addressed in other agreements. 
 9.5 Notification of Claim; Conditions to Indemnification Obligations. The provisions below shall govern a Party’s right to receive indemnification under this Article 9. 
 (a) The Party seeking indemnification shall promptly provide written notice (each such written notice, a “Claim
Notice”) to the Indemnitor as soon as such Party becomes aware of a claim or suit for which indemnification may be sought pursuant hereto (provided that the failure to give a Claim Notice promptly shall not prejudice the rights of the
Indemnitees except to the extent that the failure to give such prompt notice materially adversely affects the ability of the Indemnitor to defend the claim or suit). 
 (b) If the Indemnitor confirms in writing to the indemnified Party its intention to defend such claim or suit within fifteen (15) business days after receipt of the Claim Notice, such Party,
and such Party’s Indemnitees, shall permit the Indemnitor to control the defense of such claim or suit, including without limitation the right to select defense counsel; provided that any assumption of the defense of a Third Party claim
or suit by the Indemnitor shall not be construed as an acknowledgment that the Indemnitor is liable to indemnify the Party seeking indemnification or any of its Indemnitees in respect of the Third Party claim or suit, nor shall it constitute a
waiver by the Indemnitor of any defenses it may assert against the Party seeking indemnification, or any Indemnitee’s claim for indemnification. Upon receipt by the indemnified Party of its intention to defend, the Indemnitor shall not be
liable to the indemnified Party or to any of its Indemnitees for any legal expenses subsequently incurred by such indemnified Party or any of its Indemnitees in connection with the analysis, defense or settlement of the Third Party claim or suit,
except subsequent to termination of its right to defend as provided in Section 9.5(c)(ii), or with the prior written consent of the Indemnitor. In no

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 44 - 

 
event, however, may the Indemnitor compromise or settle any claim or suit in a manner which admits fault or negligence on the part of any Indemnitee, or that otherwise materially affects such
Indemnitee’s rights under this Agreement, or requires any payment by an Indemnitee, without the prior written consent of such Indemnitee. 
 (c) If the Indemnitor fails to (i) provide to the indemnified Party its confirmation in writing of its intention to defend such claim or suit within the fifteen (15) business day period
set forth in Section 9.5(b); or (ii) diligently and reasonably defend such suit or claim at any time, its right to defend the claim or suit shall terminate immediately in the case of (i) and otherwise upon twenty (20) days’
written notice to the Indemnitor and the indemnified Party may (A) assume the defense of such claim or suit at the sole expense of the Indemnitor and (B) settle or compromise such claim or suit without the consent of the Indemnitor.

 (d) The indemnified Party, and such Party’s Indemnitees, shall reasonably cooperate with the Indemnitor, at the
Indemnitor’s cost and expense, in the defense of such claim or suit, and shall furnish such records, information and testimony, provide such witnesses and attend such conferences, discovery proceedings, hearings, trials and appeals as may be
reasonably requested in connection therewith. Such cooperation shall include access during normal business hours by the indemnifying Party to, and reasonable retention by the indemnified Party of, records and information that are reasonably relevant
to such Third Party claim or suit and, as reasonably requested by the indemnifying Party, making the indemnified Party and its employees and agents available on a mutually convenient basis to provide additional information and explanation of any
records or information provided. 
 (e) An indemnified Party, acting on behalf of itself and all other Indemnitees, shall
have the right, but not the duty, at its sole cost and expense, to participate in, but not control, the defense of any claim or suit hereunder with attorneys of its own selection without relieving the Indemnitor of any of its obligations hereunder.

 (f) In the event that it is determined by an arbitrator pursuant to an arbitration conducted in accordance with
Schedule 11.9, that the Indemnitor is not obligated to indemnify, defend or hold harmless the indemnified Party or any of its Indemnitees from and against the Third Party claim or suit, the indemnified Party shall reimburse the Indemnitor for any
and all costs and expenses (including lawyers’ fees and costs) incurred by the Indemnitor in its defense of the Third Party claim or suit with respect to such indemnified Party. Notwithstanding the foregoing, each of the Parties agrees not to
bring any such arbitration proceeding until there has been either (i) a final, non-appealable decision reached by a court with valid jurisdiction or (ii) a binding settlement, in each case, with respect to Losses arising out of any such
Third Party claims or suits. 
 9.6 Other Indemnification Obligations. Notwithstanding anything to the contrary, the
provisions of this Article 9 are not intended, and shall not be deemed, to modify the terms and conditions regarding the indemnification obligations, if any, of any 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 45 - 

 
Party set forth in the Shell Agreements; provided, however, that notwithstanding anything to the contrary in this Agreement, the Codexis-Shell US Research Agreement or the
Codexis-Shell US License Agreement, for purposes of Section 10.2(b)(iv) of the Codexis-Shell US Research Agreement and Section 8.1(c) and Section 8.2(e) of the Codexis-Shell US License Agreement, IE will always be deemed to be an Affiliate
(as such term is defined in the Codexis-Shell US Research Agreement and the Codexis-Shell US License Agreement, as applicable) of Shell (as such term is defined in the Codexis-Shell US Research Agreement and the Codexis-Shell US License Agreement,
as applicable); provided further that, notwithstanding anything to the contrary in this Agreement, the Codexis-Shell US Research Agreement or the Codexis-Shell US License Agreement, Codexis Jointly Invented Research Technology and IE
Jointly Invented Research Technology shall not be deemed to be Program Patent Rights or Program Licensed Technology for purposes of Section 8.1(c) of the Codexis-Shell US License Agreement; provided further that, notwithstanding
anything to the contrary in this Agreement, the Codexis-Shell US Research Agreement or the Codexis-Shell US License Agreement, Codexis Jointly Invented Research Technology and IE Jointly Invented Research Technology shall not be deemed to be
intellectual property for purposes of Section 8.2(e) of the Codexis-Shell US License Agreement. 
 ARTICLE 10

 TERM AND TERMINATION 
 10.1 Term. 
 (a) The research term of this Agreement (the
“Research Term”) will commence on the Effective Date and, unless earlier terminated in accordance with Section 10.2, shall continue in effect until the earlier of the expiration or termination of (a) this Agreement,
(b) the Codexis-Shell US Research Agreement or (c) the IE-Shell Canada [*] Agreement, or successor or replacement thereof. 
 (b) The term of this Agreement (the “Term”) will commence on the Effective Date and, unless earlier terminated in accordance with Section 10.4, shall continue in effect until
the earlier of the expiration or termination of (a) the Codexis-Shell US License Agreement or (b) the IE-Shell Canada [*] Agreement, or successor or replacement thereof. 
 10.2 Termination of Research Term At Will. Shell, in its sole discretion, may terminate the Research Term at any time upon thirty
(30) days prior written notice to Codexis and IE. 
 10.3 Termination due to Challenge of Patent. In the event that
IE challenges in any country the validity of any issued patent that is within the Patent Rights licensed to Codexis under the Codexis-[*] Agreement, the licenses granted by Shell to IE under the IE-Shell Canada [*] Agreement or the
IE-Shell Canada [*] Agreement with respect to use of any technology originating from or derived from any [*] and/or any [*], may at 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 46 - 

 
Codexis’ option, be terminated as to the country of such issued patent, such termination to be effective upon written notice by Codexis to IE and Shell. 
 10.4 Termination Upon Material Breach. Material failure by a Party to comply with any of its obligations contained herein shall
entitle a Party not in default and injured by such material failure to give to a Party in default written notice (a “Default Notice”) specifying the nature of the default in reasonable detail, requiring such defaulting Party to make
good or otherwise cure such default, and stating such non-defaulting Party’s intention to terminate this Agreement if such default is not cured. If such default is not cured within sixty (60) days after the date the Default Notice was
sent, then such non-defaulting Party shall be entitled, without prejudice to any other rights conferred on it by this Agreement, and in addition to any other remedies available to it by law or in equity, to terminate this Agreement by written notice
of termination to the defaulting Party; provided, however, that if the Party receiving such Default Notice (the “Disputing Party”) has a reasonable basis for disputing that it is in default and such Disputing Party
provides written notice thereof to the Party that provided the Default Notice before the expiration of such sixty (60) day cure period, then the Disputing Party shall have the right, prior to the expiration of such sixty (60) day period,
to submit such dispute for resolution in accordance with the provisions of Section 11.9; provided further that in the event that as a result of such resolution, the Disputing Party is found to be in default and such default is not
cured within forty-five (45) days after the date of such resolution, then the Party that provided the Default Notice shall be entitled, without prejudice to any other rights conferred on it by this Agreement, and in addition to any other
remedies available to it by law or in equity, to terminate this Agreement by written notice of termination to the Disputing Party. A copy of any and all written notices given by any Party to any other Party pursuant to this Section 10.4 shall
also be given to the third Party to this Agreement. 
 10.5 Consequences of Expiration or Termination of this Agreement.

 (a) Upon termination of this Agreement by a Party pursuant to Section 10.4 (the terminating Party, the
“Non-Breaching Party”): (i) all licenses and other rights granted by the Party in breach (the “Breaching Party”) to the Non-Breaching Party shall remain in full force and effect in accordance with their
respective terms, subject to the terms and conditions of this Agreement; (ii) all licenses and other rights granted by the Non-Breaching Party to the Breaching Party shall terminate and be of no further force or effect, except as otherwise
expressly set forth in this Section 10.5; and (iii) all other licenses and other rights granted by and among the Parties shall remain in full force and effect in accordance with their respective terms, subject to the terms and conditions
of this Agreement. 
 (b) Upon termination of this Agreement pursuant to Section 10.4, sublicenses granted by the
Breaching Party to an Affiliate or to a Third Party, as applicable, pursuant to a license granted by the Non-Breaching Party to the Breaching Party under this Agreement will survive, subject to the restrictions contained in this

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 47 - 

 
Agreement, but shall be assigned to the Non-Breaching Party; provided that (i) such Affiliate or Third Party sublicensee is not the cause of the breach under Section 10.4, and
(ii) such Affiliate or Third Party sublicensee is not in breach of, and continues to fully perform all obligations under, the applicable sublicense agreement(s). 
 (c) Upon expiration or termination of this Agreement, unless otherwise agreed to in writing by the applicable Parties, each Party will promptly return all records and materials in its possession or
control containing or comprising the other Party’s Confidential Information and to which such Party does not expressly retain rights hereunder and that are not required to fulfill its obligations hereunder that continue after such expiration or
termination of this Agreement. Notwithstanding anything to the contrary, each Party shall have the right to maintain one (1) copy of such records in its legal department files for archive purposes; provided that such copy is kept
pursuant to the surviving confidentiality obligations of this Agreement. 
 (d) The following articles and sections of
this Agreement shall survive its termination or expiration: Articles 1, 3, 4, 5, 6, 7, 9, and 11, and Sections 2.3(d)(ii), 2.7, 8.4 and 10.5. In addition, Section 10.6 shall survive in the event of the (i) expiration of this Agreement, or
(ii) termination of this Agreement, other than a termination (A) due to the termination of the IE-Shell Canada [*] Agreement where IE, its Affiliates and sublicensees retain no license rights with respect to any Codexis Introduced
Program Technology or Codexis Research Technology, or (B) pursuant to Section 10.4 where IE is the Breaching Party. Termination of this Agreement will have no effect on the rights and licenses granted under the Codexis-Shell US License
Agreement and the IE-Shell Canada [*] Agreement. 
 (e) Termination of this Agreement for any reason shall be
without prejudice to (i) the rights and obligations of the Parties set forth in any article or section of this Agreement which provides, by the terms therein, for performance by any of the other Parties subsequent to termination; (ii) the
right of each of the Parties to receive all payments accrued under Article 5 prior to the effective date of termination (subject to Section 10.5(a), as applicable), or (iii) any other remedies which a Party may otherwise have. 

10.6 Consequences of Termination of the Codexis-Shell US License Agreement. 
 (a) Rights of IE. 
 (i) In the event that the Codexis-Shell US License Agreement terminates for any reason other than as a consequence of any action by IE or its Affiliates, Codexis, effective as of the effective date of such termination, will grant,
and hereby grants, to IE a non-exclusive, worldwide, royalty-bearing license under the Codexis Research Technology and Codexis Introduced Program Technology in the Fuels Field, under all terms and conditions set forth in the Codexis-Shell US License
Agreement, excluding Sections 2.4 and 7.3, and Articles 3 (except Section 3.5), 4 and 6

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 48 - 

 
of the Codexis-Shell US License Agreement, mutatis mutandis, and consistent with IE’s rights and obligations under this Agreement, for use in the manufacture, use, sale, offer for
sale, and import of [*], derivatives of [*], and any [*] that are subject to a specific [*] adopted in the [*], as of the date of such termination, in each case that are derived from Biomass (“Permitted
Products”). The right to be granted by Codexis to IE under this Section 10.6(a) will include a right to grant sublicense rights; provided that IE shall have no right to grant any sublicense under the rights granted by Codexis to
IE under this Section 10.6(a) to Shell or any Affiliate of Shell; provided further that IE shall have no right to utilize, for itself or any of its successors, for any commercial purpose, the rights granted to IE by Codexis under
this Section 10.6(a) in the event that Shell [*] but, for greater clarity, [*] shall have no impact on the rights of IE with respect to the granting of rights to Third Parties under the Codexis Introduced Program Technology and
the Codexis Research Technology in the Fuels Field in effect immediately prior to [*]; provided, further, that any such sublicense grant of Codexis Research Technology and Codexis Introduced Program Technology (i) is only a
portion of a grant of a technology package that includes IE Biofuel Process Technology necessary for the manufacture, use, sale, offer for sale, and import of one or more Permitted Products, and (ii) would terminate, automatically and without a
requirement of further action by IE, if the sublicensee independently exercises the rights granted under such sublicense with respect to Codexis Research Technology or Codexis Introduced Program Technology and not together or in concert with IE
Biofuel Process Technology. For purposes of clarification, any sublicense granted by IE under the rights granted by Codexis to IE under this Section 10.6(a) shall include a prohibition against the use of Codexis Research Technology and Codexis
Introduced Program Technology unless such Codexis Research Technology and Codexis Introduced Program Technology is used solely for use in direct connection with specific facilities that use IE Biofuel Process Technology for the manufacture, use,
sale, offer for sale, and import of one or more Permitted Products; provided, however, IE may grant a sublicense under the rights granted by Codexis to IE under this Section 10.6(a), subject to the provisions of Section 4.7
hereunder and Section 2.4 of the Codexis-Shell US License Agreement as applied to IE and its Affiliates, mutatis mutandis, for the supply of Biocatalysts manufactured by the sublicensee to specific facilities that use IE Biofuel Process
Technology for the manufacture, use, sale, offer for sale, and import of one or more Permitted Products, but not for sale of Biocatalysts to Third Parties not using such Biocatalysts together with IE Biofuel Process Technology. 
 (ii) In the event that, after the date of the termination of the Codexis-Shell US License Agreement as described in
Section 10.6(a)(i), Shell or any of its Affiliates retains or acquires rights with respect to any license rights under any of the Codexis Research Technology and/or the Codexis Introduced Program Technology in the Fuels Field, except for rights
and obligations under Articles 5, 8 and 10 and Sections 2.3, 3.5, 6.2, 7.3 and 7.4 of the Codexis-Shell US License Agreement, for the production of any product other than a Permitted Product, as of the date of the grant of such license, IE shall
have a non-exclusive license right under such Codexis Research Technology and/or such Codexis Introduced Program Technology to produce such product(s) on terms and conditions of the license right granted to Shell or its Affiliates. 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 49 - 

 (iii) Notwithstanding anything to the contrary in this Section 10.6(a), in the
event that the Codexis-Shell US License Agreement terminates in connection with, or subsequent to, the [*] by Shell, or an Affiliate of Shell, directly or indirectly, of the [*], such termination shall have no impact on the rights of
IE under the Codexis Introduced Program Technology and/or the Codexis Research Technology in the Fuels Field in effect immediately prior to such termination. 
 (iv) Without prejudice to the rights of Codexis or IE under law, termination of the Codexis-Shell US License Agreement shall have no effect on (a) the sublicenses previously granted by or
through IE under Introduced Program Technology and Research Technology with respect to (i) any specific operational facility and the products produced at such facility as of the date of such termination, and/or (ii) any specific
facility that is under construction and/or that has been permitted for construction or operation by the relevant governmental agency(ies) with respect to the products identified in such permit as of the date of such termination, but excluding in
each of (i) and (ii), the production of Biocatalysts for any use other than use in direct connection with such specific facility(ies), and (b) the obligation for IE to make payments to Codexis on behalf of such facilities in accordance
with the terms of this Agreement. 
 (b) Rights of Codexis. In the event that the Codexis-Shell US License
Agreement terminates and Shell’s rights after such termination are not modified, altered or different than as set forth in Section 9.4(a) of the Codexis-Shell US License Agreement, IE, effective as of the effective date of such
termination, will grant, and hereby grants, to Codexis a non-exclusive license, subject to the terms and conditions of the IE Third Party Agreements, together with a right to grant sublicense rights, under (i) IE Research Technology and IE
Introduced Program Technology, excluding, in each case, any and all Patent Rights within such Technologies, for use in the Fuels Field under terms set forth in the IE-Shell Canada [*] Agreement as applied to Codexis, mutatis mutandis,
and (ii) IE Jointly Invented Research Technology for use in the Fuels Field, such license to be royalty- and payment-free. In addition, the Parties agree that Codexis may continue to utilize any and all rights granted by IE to Codexis under
Patent Rights covering inventions jointly developed by IE and Codexis and, under the terms of this Agreement, owned by IE for any and all purposes expressly granted to Codexis under the terms of this Agreement. 
 ARTICLE 11 
 GENERAL PROVISIONS 
 11.1 Relationship of the Parties. The Parties shall perform their obligations under
this Agreement as independent contractors and nothing contained in this Agreement shall be construed to make Codexis or IE partners, joint venturers, principals, representatives or employees of the other. Codexis and IE agree that this Agreement
shall not constitute a partnership for tax purposes. In the event, however, that this Agreement was so construed, then Codexis and IE agree to be excluded from the 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 50 - 

 
provisions of Subchapter K of the United States Internal Revenue Code of 1986, as amended. 
 11.2 Assignments. Except as expressly provided herein, neither this Agreement nor any interest hereunder may be assigned, nor any other obligation delegated, by a Party without the prior written
consent of the other Party; provided, however, that each Party shall have the right to assign this Agreement without consent to an Affiliate of such Party or to any successor in interest to such Party by way of merger, consolidation or
other business reorganization or the sale of all or substantially all of its assets. In the case of any permitted assignment to an Affiliate, the assignee shall assume all of the liabilities and obligations of the assigning Party under this
Agreement and shall deliver an instrument in writing to each of the other Parties confirming its agreement to do so. Notwithstanding any such assignment and assumption of this Agreement, the assigning Party shall remain liable, and responsible for,
the payment and performance of all such past, present and future liabilities and obligations. This Agreement shall be binding upon successors and permitted assigns of the Parties. Any assignment not in accordance with this Section 11.2 will be
null and void. 
 11.3 Further Actions. Each Party agrees to execute, acknowledge and deliver such further instruments
and to do all such other acts as may be necessary or appropriate in order to carry out the express provisions of this Agreement. 
 11.4 International Trade Compliance. Each Party agrees to conduct its operations under the terms of this Agreement in compliance with all applicable import, export, reexport and foreign trade control statutes, laws,
regulations, enactments, directives and ordinances of any governmental authority with jurisdiction over such operations then in effect (“International Trade Laws”) in connection with the performance of its obligations
under this Agreement. Each Party shall be responsible for obtaining any necessary authorizations required by International Trade Laws applicable to any Party’s import, export, reexport or other foreign trade activity in connection with the
performance of its obligations under this Agreement. The transfer of any material from a Party to any of the other Parties shall be conducted in accordance with the terms set forth on Schedule 2.4(b). Each Party will cause these terms to be imposed
upon any Affiliate and Third Party from which Information, Technology, materials or services are procured for this Agreement, including any supplier or subcontractor. This Agreement does not constitute, and shall not be construed to constitute, an
agreement by any Party to take or refrain from taking any action, which would constitute non-compliance with any International Trade Laws applicable to its operations under the terms of this Agreement. 
 11.5 Force Majeure. None of the Parties shall be liable to the other for failure or delay in the performance of any of its
obligations under this Agreement for the time and to the extent such failure or delay is caused by earthquake, riot, civil commotion, war, terrorist acts, strike, flood, or governmental acts or restriction that is beyond the control of the
respective Party. The Party affected by such force majeure will provide the other Parties with full particulars thereof as soon as it becomes aware of the same 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 51 - 

 
(including without limitation its best estimate of the likely extent and duration of the interference with its activities), and will use commercially reasonable efforts to overcome the
difficulties created thereby and to resume performance of its obligations as soon as practicable. If the performance of any obligation under this Agreement is delayed owing to a force majeure for any continuous period of more than ninety
(90) days, any of the Parties may terminate this Agreement by giving to the other Parties not less than ten (10) business days notice in writing. In the event of any force majeure event that delays the performance of a Party under this
Agreement, the Term shall automatically be extended for the period of time that such performance is delayed. Notwithstanding anything to the contrary, the payment of money shall not be subject to this Section 11.5. 
 11.6 Captions. The captions to this Agreement are for convenience only, and are to be of no force or effect in construing or
interpreting any of the provisions of this Agreement. 
 11.7 Rules of Construction. Each of the Parties acknowledge and
agree that each of the Parties has had legal counsel review and participate in settling the terms of this Agreement and that any rule of construction to the effect that any ambiguity is to be resolved against the drafting Party shall not be
applicable to the interpretation of this Agreement. 
 11.8 Governing Law. This Agreement will be governed by and
interpreted in accordance with the laws of the State of New York, applicable to contracts entered into and to be performed wholly within the State of New York, excluding conflict of laws principles. 
 11.9 Dispute Resolution; Jurisdiction and Venue. Any controversy or claim (“Dispute”), whether based on contract,
tort, statute or other legal or equitable theory (including without limitation but not limited to any claim of fraud, misrepresentation or fraudulent inducement or any question of validity or effect of this Agreement including without limitation
this clause) arising out of or related to this Agreement (including without limitation but not limited to any amendments, annexations, and extensions) or the breach thereof shall be settled by consultation between the Parties initiated by written
notice of the Dispute to the other Parties. In the event such consultation does not settle the Dispute within thirty (30) days after written notice of such Dispute, subject to such extension or extensions as the Parties to the Dispute may
stipulate in writing, then the Dispute shall be settled by binding arbitration in accordance with Schedule 11.9 hereof. 
 11.10 Notices and Deliveries. Any notice, request, delivery, approval or consent required or permitted to be given under this Agreement will be in writing and will be deemed to have been sufficiently given on the date of receipt if
delivered in person, transmitted by telecopier (receipt verified) or by express courier service (signature required) or five (5) days after it was sent by registered letter, return receipt requested (or its equivalent), provided that no
postal strike or other disruption is then in effect or comes into effect within two (2) days after such mailing, to the Party to which it 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 52 - 

 
is directed at its address or facsimile number shown below or such other address or facsimile number as such Party will have last given by notice to the other Parties. 
 If to Codexis, addressed to: 
 Codexis, Inc. 
 200 Penobscot Drive 
 Redwood City, CA 94063 
 Attention: Chief Executive Officer 
 Telephone: [*] 
 Fax: [*] 
 with a copy to: 
 Codexis, Inc. 
 200 Penobscot Drive 
 Redwood City, CA 94063 
 Attention: General Counsel 
 Telephone: [*] 
 Fax: [*] 
 If to IE, addressed to: 
 Iogen Energy Corporation 
 310 Hunt Club Road East 
 Ottawa, Ontario K1V 1C1 
 Canada 
 Attention: Chief Executive Officer 
 Telephone: [*] 
 Fax: [*] 
 If to Shell US, addressed to: 
 Shell Oil Products (US) 
 910 Louisiana Street 
 Houston, TX 77002 
 Attention: Sr. Business and JV Manager (Americas) 
 Telephone: [*] 
 Fax: [*] 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
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 with a copy to: 
 Shell Oil Company 
 Associate General Counsel, Intellectual Property Services 
 910 Louisiana Street 
 Houston, TX 77002 
 Fax: [*] 
 If to Shell Canada, addressed to: 
 Shell Chemicals Canada Limited 
 400 - 4th Avenue S.W. 
 P.O. Box 4280, Station ‘C’ 
 Calgary, Alberta T2T 5Z5 
 Canada 
 Attention: [*] 
 Telephone: [*] 
 Fax: [*] 
 with a copy to: 
 Shell Oil Company 
 910 Louisiana Street 
 Houston, TX 77002 
 Attention: [*] 
 Telephone: [*] 
 Fax: [*] 
 11.11 No Consequential Damages. EXCEPT PURSUANT TO ARTICLE 9 AS TO DAMAGES CLAIMED BY A THIRD PARTY, IN NO EVENT WILL A PARTY OR ANY OF ITS RESPECTIVE AFFILIATES BE LIABLE TO THE OTHER PARTY OR ANY OF ITS AFFILIATES FOR SPECIAL,
INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES, WHETHER IN CONTRACT, WARRANTY, TORT, NEGLIGENCE, STRICT LIABILITY OR OTHERWISE, INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS OR REVENUE, OR CLAIMS OF CUSTOMERS OF ANY OF THEM OR OTHER THIRD PARTIES FOR
SUCH DAMAGES. 
 11.12 Entire Agreement. This Agreement is the sole agreement with respect to the subject matter hereof
and supersede all other prior and contemporaneous agreements and understandings between the Parties with respect to same. For purposes of clarification, each of the Parties acknowledge and agree that the subject matter of this Agreement is separate
from, and will not supersede, the subject matter of the Shell Agreements. In addition, to the extent that there is any conflict or inconsistency between 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 54 - 

 
the terms and conditions of this Agreement and the terms and conditions of any of the Shell Agreements, the terms of this Agreement shall govern. 
 11.13 Waiver. A waiver by a Party of any of the terms and conditions of this Agreement in any instance will not be deemed or
construed to be a waiver of such term or condition for the future, or of any subsequent breach hereof. All rights, remedies, undertakings, obligations and agreements contained in this Agreement will be cumulative and none of them will be in
limitation of any other remedy, right, undertaking, obligation or agreement of any of the Parties. 
 11.14 Severability.
When possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision
will be ineffective but only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or of this Agreement. The Parties will make a good faith effort to replace the invalid or unenforceable provision with
a valid one which in its economic effect is most consistent with the invalid or unenforceable provision. 
 11.15
Counterparts. This Agreement may be executed simultaneously in counterparts, any one of which need not contain the signature of more than one Party but both such counterparts taken together will constitute one and the same agreement. 

11.16 Compliance with Laws. Each Party shall comply with all applicable statutes, laws, regulations, enactments, directives and
ordinances and all injunctions, decisions, directives, judgments and orders of any governmental authority in effect at any time in connection with the performance of its obligations under this Agreement. 
 11.17 Amendment. No amendment of any provision of this Agreement shall be binding on a Party to this Agreement unless consented to in
writing and signed by such Party. Signatures and writings in an electronic form do not constitute or create a writing signed by a Party. 
 [Signature page follows] 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 - 55 - 

 IN WITNESS WHEREOF, the
Parties have caused this Agreement to be executed by their respective duly authorized officers as of the Effective Date, each copy of which will for all purposes be deemed to be an original. 
  

			
	 CODEXIS, INC.

		
	By:	 	 /s/ Alan Shaw

	Name:	 	Alan Shaw
	Title:	 	President
	
	IOGEN ENERGY CORP.
		
	By:	 	 /s/ Brian Foody

	Name:	 	 Brian Foody

	Title:	 	 President & CEO

	
	 EQUILON ENTERPRISES LLC
 DBA SHELL OIL PRODUCTS US

		
	By:	 	 /s/ T.N. Smith

	Name:	 	 T.N. Smith

	Title:	 	 President

	
	SHELL CHEMICALS CANADA LIMITED
		
	By:	 	 /s/ Derric W. Ostapyk

	Name:	 	 Derric W. Ostapyk

	Title:	 	 President

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 SCHEDULE 1.62 
 SHELL BIOFUEL TECHNOLOGY TERMS 
 Notwithstanding anything to the
contrary in this Agreement, the capitalized terms defined in this Schedule 1.62 shall apply to the corresponding capitalized terms in Section 1.62 of this Agreement only. 
 “Affiliate” means, in relation to any person, any other person that directly or indirectly controls, that is directly or indirectly controlled by, or that is under the direct or indirect
common control of, such person (including, with respect to Shell only, any person that is directly or indirectly controlled by Royal Dutch Shell plc); provided, however, that (i) where one person controls another person, any other person
controlled by the first such person shall be deemed to be an Affiliate (as defined in this Schedule 1.62) of the second person and (ii) any corporation in respect of which any person owns beneficially, directly or indirectly, more than fifty
percent (50%) of such corporation’s voting securities, shall be deemed to be an Affiliate (as defined in this Schedule 1.62) of such person. 
 “Development Program” means the [*] development program undertaken by IE, comprising the elements described in Section 2.2 of the IE-Shell Canada [*] Agreement as approved, and amended from time to time
in accordance with the terms and conditions of the IE-Shell Canada [*] Agreement. 
 “Enzyme Technology” means all
Intellectual Property (as defined in this Schedule 1.62) pertaining or relating to processes, compositions or relevant research, development and operating know-how for the identification, evolution and production of [*] enzymes, including but
not limited to all [*], whether naturally occurring or genetically enhanced, primarily for use in processes relating to [*] Technology (as defined in this Schedule 1.62), including evolved enzymes, [*] operating protocols,
computer models, samples, assay procedures, experimental reports, analytical procedures and know-how relating to the operation of fermenters. 
 “[*] Technology” means all Intellectual Property (as defined in this Schedule 1.62) pertaining or relating to processes or processing steps for the conversion of feedstocks comprising primarily [*] to [*],
including feedstock handling, feedstock preparation, feedstock pretreatment, enzymatic hydrolysis, acid hydrolysis, production of lignin by-products, [*] to produce [*] and any other [*] component, [*] to produce [*]
and any other [*] component, [*] of [*] and [*] to produce [*] and any other [*] component and separation steps required in the manufacturing of [*], but excluding Enzyme Technology (as defined in
this Schedule 1.62). 
 “IE Background Technology” means IE Technology (as defined in this Schedule 1.62) as of June 1,
2008. 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 1 

 “IE Foreground Technology” means IE Technology (as defined in this Schedule 1.62) developed
during the term of the IE-Shell Canada [*] Agreement. 
 “IE Grant-back Technology” means the Intellectual Property (as
defined in this Schedule 1.62) licensed to IE pursuant to Section 5.1 of the IE-Shell Canada [*] Agreement and pursuant to licenses IE concludes with Third Parties (as defined in this Schedule 1.62). 
 “IE Technology” means the [*] Technology (as defined in this Schedule 1.62) and the Enzyme Technology (as defined in this Schedule
1.62) developed by IE and/or its Affiliates(as defined in this Schedule 1.62), or to which IE and/or its Affiliates (as defined in this Schedule 1.62) have sub-licensable rights; including IE Background Technology (as defined in this Schedule 1.62),
IE Foreground Technology (as defined in this Schedule 1.62), and IE Grant-back Technology (as defined in this Schedule 1.62). 
 “Intellectual Property” means industrial and intellectual property, including all: 
  

	 	(a)	trade secrets, confidential information and know-how, including all unpatented inventions, formulae, processes, technology, technical information, inventor’s
notes, unpublished studies and data, research designs, research results and notes, prototypes, drawings, design and construction specifications, production, operating and quality control manuals; 

  

	 	(b)	copyrights, including all copyrights in software; 

  

	 	(c)	industrial designs, design patents and other designs; 

  

	 	(d)	microbial strains and genetic material; and 

  

	 	(e)	patents; 

 and all registrations, applications
for registration, reissues, extensions, renewals, divisions, continuations, continuations-in-part, proprietary information, documentation, licenses, registered user agreements and other agreements relating to the foregoing. 
 “Third Party” means any person other than IE, Shell Canada and [*], and their Affiliates (as defined in this Schedule 1.62).

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 2 

 SCHEDULE 1.69 
 THIRD PARTY AGREEMENTS 
 Codexis: 
 [*]: 
 License Agreement,
effective as of [*], by and between Codexis, Inc., and [*] and [*]  
 Maxygen: 
 License Agreement effective as of March 28, 2002, by and between Maxygen, Inc. and Codexis, Inc., as amended. 
 IE: 
 [*]:

 License Agreement, effective as of [*], by and between [*] and Iogen Energy Corporation, as amended. 
 [*]: 
 License Agreement,
effective as of [*], by and between Iogen Energy Corporation and [*]. 
 [*]: 
 License Agreement, effective as of [*], by and between Iogen Energy Corporation and [*]. 
 [*]: 
 Agreement, effective
as of [*], by and between [*] and Iogen Corporation. 
 Agreement, effective as of [*], by and between [*], and
Iogen Energy Corporation and Iogen Energy Canada Corporation. 
 Shell: 
 None as of the Effective Date 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 1 

 SCHEDULE 1.70 
 SPECIES OF [*] 
  

	 	•	 	 Section 1 [*]: 

  

	 	•	 	 [*] 

  

	 	•	 	 Section 2 [*]: 

  

	 	•	 	 [*] 

  

	 	•	 	 Section 4 [*]: 

  

	 	•	 	 [*] 

  

	 	•	 	 Section 5 [*]: 

  

	 	•	 	 [*] 

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 1 

	 	•	 	 Section 6 [*]: 

  

	 	•	 	 [*] 

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 2 

 SCHEDULE 2.4(b) 
 TERMS OF MATERIALS TRANSFER 
  

	 	•	 	 any and all material will be used under suitable containment conditions solely for studies in furtherance of the Program, and for not other purpose;

  

	 	•	 	 materials will not be transferred or provided to any Third Party without the prior written approval of the Party that originally provided such
material; 

  

	 	•	 	 the Party providing material shall provide the Party receiving such material with the applicable import and export classification relevant to the
material. Should the provision of material involve a cross-border transfer, the Party providing the material will act as the exporter of record, as defined by International Trade Laws, and the Party receiving such material will act as the importer
of record, as defined by International Trade Laws. 

  

	 	•	 	 the Party that originally provided material shall retain all right, title and interest in and to such material and uses thereof, including but not
limited to all right, title and interest in patents and other intellectual property rights relating to such material and, unless otherwise expressly provided under the terms of this Agreement or in writing by the Party that originally provided such
material, no right or interest in or to material is granted or implied; 

  

	 	•	 	 in the event that any invention is conceived and/or reduced to practice by a Party receiving material, the Party receiving such material will provide a
written disclosure to the Party that originally provided such material describing such invention in detail reasonably adequate to characterize such invention; 

  

	 	•	 	 ownership of any invention conceived and/or reduced to practice by a Party receiving material will be as set forth in Article 3 of this Agreement and,
if not set forth in Article 3, will be owned by the Party that originally provided such material; 

  

	 	•	 	 the Party receiving material shall indemnify and hold harmless the Party originally providing such material, its employees or agents from and against
all loss or expense by reason of any liability imposed by law upon such providing Party; 

  

	 	•	 	 THE PARTY PROVIDING MATERIAL PROVIDES NO WARRANTIES FOR THE MATERIALS, EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, STATUTORY OR
OTHERWISE, AND SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON INFRINGEMENT 

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 1 

 SCHEDULE 4.4(e) 
 CODEXIS-[*] AGREEMENT DEFINITIONS 
 Notwithstanding anything to the
contrary in this Agreement, the capitalized terms defined in this Schedule 4.4(e) shall apply to the corresponding capitalized terms in Sections 4.4(e) and 4.4(f) of this Agreement only, unless otherwise noted in such sections. 
 “Affiliate” means with respect to any Person, any other Person that is controlled by, controls, or is under common control with such first Person,
as the case may be. For purposes of this paragraph only, the term “control” means (a) direct or indirect ownership of fifty percent (50%) or more of the voting interest in the entity in question, or fifty percent (50%) or
more interest in the income of the entity in question; provided, however, that if local Law requires a minimum percentage of local ownership of greater than fifty percent (50%), control will be established by direct or indirect beneficial ownership
of one hundred percent (100%) of the maximum ownership percentage that may, under such local Law, be owned by foreign interests, or (b) possession, directly or indirectly, of the power to direct or cause the direction of management or
policies of the entity in question (whether through ownership of securities or other ownership interests, by contract or otherwise). 
 “Law” means, individually and collectively, any and all laws, ordinances, orders, rules, rulings, directives and regulations of any kind whatsoever of any governmental, court or regulatory authority within the applicable
jurisdiction. 
 “Person” means any individual, corporation, partnership, association, joint-stock company, trust,
unincorporated organization or government or political subdivision thereof. 
 “Improvement” means any invention comprising the
composition of matter of, process of making, or methods of using (a) any [*] or [*] provided, directly or indirectly, by Codexis to IE or Shell or other [*] covered by a Valid Claim, (b) any gene, portion of any gene,
protein, promoter, signal peptide, terminator, or integration site obtained from the [*] or [*] described in subsection (a) above, (c) any progeny, derivative, or modification of (a) or (b), or (d) any mixture of
proteins in specified ratios produced using the [*] or [*] described in subsection (a), or a derivative or modification thereof. For purposes of clarification, notwithstanding anything to the contrary, “Improvement” does not
include any invention that is (i) an enhancement, modification, or improvement of, or to, any [*], including without limitation any such [*] contained within the [*] or [*] described in subsection (a) above
and/or covered by a Valid Claim except where the invention improves the [*] generally (which shall be included within Improvements), or (ii) Shuffling Technology. 
 “Shuffling Technology” means any and all techniques, methodologies, processes, materials and/or instrumentation, including without
limitation any and all Patents,

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 1 

 
know-how, confidential information and materials relating thereto, that, in each case, relates to the characterization, development and optimization of genes and proteins for commercial uses
through the recombination and/or rearrangement and/or mutation of genetic material for the creation of genetic diversity, and generally applicable screening techniques, methodologies, or processes of using the resulting genetic material to identify
potential usefulness. 
 “Patent” means all: (a) United States and foreign patents, re-examinations, reissues,
renewals, extensions and term restorations, inventors’ certificates and counterparts thereof; and (b) pending applications for United States and foreign patents, including, without limitation, provisional applications, continuations,
continued prosecution, divisional and substitute applications, and counterparts thereof. 
 “Valid Claim” means
(a) any claim of an issued and unexpired patent within the Licensed Patents which has not been held unenforceable or invalid by a court or other governmental agency of competent jurisdiction in a decision that is not appealed or is
unappealable, and which patent has not been disclaimed or admitted to be invalid or unenforceable through reissue or otherwise, or (b) a pending claim in a pending patent application within the Licensed Patents that has not been abandoned,
finally rejected, or expired without the possibility of appeal or refiling. 
 “Licensed Patents” means (a) the
Patents (as defined above) listed on Exhibit C of the Codexis-[*] License (a copy of which has been provided to IE and Shell as of the date hereof) and (b) any and all other Patents (as defined above) Controlled by [*] as
of the [*] related to the [*], the [*] and/or any [*] (and the genes encoding the same) that are necessary or useful [*]. 
 “Controlled” means, with respect to all or any portion of any gene, the gene itself, protein, compound, material, information or intellectual property right, that [*] owns or has a
license to any portion of any such gene, the gene itself, protein, compound, material, information or intellectual property right and has the ability to grant to Codexis access, a license or a sublicense (as applicable) to any portion of any such
gene, the gene itself, protein, compound, material, information or intellectual property right as provided for in the Codexis-[*] Agreement without violating the terms of any agreement or other arrangements with any Third Party. 

“Third Party” means any Person other than [*], Codexis, or any Affiliate of either [*] or Codexis. 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 2 

 “Term” shall mean the term of the Codexis-[*] Agreement (Codexis will provide notice to IE
on the earlier of the expiration or termination of the [*] Agreement in accordance with Section 4.4(e)). 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 3 

 SCHEDULE 5.1(c) 
 PAYMENTS 
 ARTICLE I 
 DEFINITIONS 
 Capitalized
terms in this Schedule 5.1(c) shall have the meanings set forth in Article 1 of this Agreement, with the following additions applicable to this Schedule 5.1(c): 
 Section 1.01 “First Royalty Sale” means a first transfer by IE or an IE Affiliate or a sublicensee of a Royalty-Bearing Product to (a) IE or an IE Affiliate (where IE or such IE
Affiliate is the end-user of such Royalty-Bearing Product); or (b) a Third Party; or (c) Shell or a Shell Affiliate; in each case, in exchange for cash, or cash equivalent to which value can be assigned after production of the first
(i) [*] of Royalty-Bearing Product in the Intermediates Field, and (ii) [*] of Royalty-Bearing Product in the Liquid Fuels Field, and (iii) [*] of Royalty-Bearing Product in the Lubricants Field, in each of (i),
(ii) and (iii), by IE, an IE Affiliate, Shell, a Shell Affiliate and/or any of their respective sublicensees. 
 Section 1.02 “Index” means the [*]. In the event that such index becomes unavailable, the Parties will agree on an index to be used in substitution of such unavailable index within sixty (60) days after the
date that such index is no longer available. 
 Section 1.03 “Intermediates Field” means that portion of
the Fuels Field limited to the conversion of Biomass into fermentable sugars, such sugars to be converted into liquid fuel and/or liquid fuel additives and/or Lubricants. For purposes of clarification, the Intermediates Field shall not include the
Liquid Fuels Field or the Lubricants Field. 
 Section 1.04 “Intermediates Royalty” has the meaning set
forth in Section 2.01(a) of this Schedule 5.1(c). 
 Section 1.05 “Liquid Fuels Field” means that
portion of the Fuels Field limited to the conversion of fermentable sugars derived from Biomass into liquid fuel and/or liquid fuel additives. For purposes of clarification, the Liquid Fuels Field shall not include the Lubricants Field. 

Section 1.06 “Liquid Fuels Royalty” has the meaning set forth in Section 2.01(b) of this Schedule 5.1(c).

 Section 1.07 “Lubricants Field” means that portion of the Fuels Field limited to the conversion of
fermentable sugars derived from Biomass into Lubricants. For purposes of clarification, the Lubricants Field shall not include the Liquid Fuels Field. 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 1 

 Section 1.08 “Lubricants Royalty” has the meaning set forth in
Section 2.01(c) of this Schedule 5.1(c). 
 Section 1.09 “Monthly Index Average” means the sum of the
monthly values for the Index in the relevant period divided by the number of months in such period. 
 Section 1.10
“Royalty Adjustment Date” means the date of First Royalty Sale of the first Royalty-Bearing Product in the Fuels Field or each anniversary of such date, as the context requires. 
 Section 1.11 “Royalty-Bearing Product” means any product, the manufacture, use, offer for sale, sale or importation of
which (a) uses IE Jointly Invented Research Technology, but does not use any Codexis Introduced Program Technology or any Codexis Research Technology, in the Fuels Field; or (b) uses Codexis Introduced Program Technology, and/or Codexis
Research Technology, in the Fuels Field. 
 ARTICLE II 
 PAYMENT TERMS 
 Section 2.01 Consideration.

 (a) Intermediates Royalty. IE shall pay to Codexis [*] per U.S. gallon of Royalty-Bearing Product, where
such Royalty-Bearing Product is sold or transferred in exchange for cash or cash equivalent or other consideration to which value can be assigned for use in the Intermediates Field, by either IE or an IE Affiliate or an IE sublicensee to (i) IE
or an IE Affiliate (where IE or such IE Affiliate is the end-user of such Royalty-Bearing Product); or (ii) a Third Party; or (iii) Shell or a Shell Affiliate; in each case, after the First Royalty Sale (in all cases, the
“Intermediates Royalty”); provided that the Intermediates Royalty shall be adjusted on each Royalty Adjustment Date according to changes in the Index as set forth below: 
 (i) The initial adjustment shall be made on the date of First Royalty Sale of the first Royalty-Bearing Product in the Fuels Field
by multiplying the initial Intermediates Royalty by (A/B), where A = the Monthly Index Average during the most recent twelve (12) month period for which final, corrected data are available preceding the date of First Royalty Sale of such first
Royalty-Bearing Product in the Fuels Field, and B = the Monthly Index Average between November 1, 2007 and the most recent date for which final, corrected data are available prior to the date of First Royalty Sale of such Royalty-Bearing
Product. 
 (ii) After the year following the date of First Royalty Sale of the first Royalty-Bearing Product in the
Fuels Field, the Intermediates Royalty shall be adjusted annually on each Royalty Adjustment Date by multiplying the then-current Intermediates Royalty by (X/Y), where X = the Monthly Index Average during the most recent twelve (12) month
period preceding such Royalty Adjustment Date for which final, corrected data are available, and Y = the Monthly Index Average for the twelve

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 2 

 
(12) month period beginning sixteen (16) months prior to such Royalty Adjustment Date and ending twenty-seven (27) months prior to such Royalty Adjustment Date. 
 The adjustments to the Intermediates Royalty shall be rounded to the nearest [*]. The Intermediates Royalty obtained after each adjustment shall be
the Intermediates Royalty due from the applicable Royalty Adjustment Date until the subsequent Royalty Adjustment Date. 
 By way of example, if
the Monthly Index Average during the twelve (12) month period preceding the date of First Royalty Sale of the first Royalty-Bearing Product in the Fuels Field for which final, corrected data are available equals two hundred twenty
(220) and the Monthly Index Average between November 1, 2007 and the most recent date for which final, corrected data are available prior to the date of First Royalty Sale of such Royalty-Bearing Product equals two hundred (200), then the
Intermediates Royalty shall be adjusted by an amount equal to two hundred twenty divided by two hundred (220/200), or one point one (1.1), such that the Intermediates Royalty for the subsequent twelve (12) month period shall equal [*]
per U.S. gallon of Royalty-Bearing Product in the Intermediates Field times one point one (1.1), or [*] per U.S. gallon of Royalty-Bearing Product in the Intermediates Field. 
 By way of further example, if the Monthly Index Average during the most recent twelve (12) month period preceding the subsequent Royalty Adjustment Date for which final, corrected data are available
equals two hundred nine (209), and the Monthly Index Average for the twelve (12) month period beginning sixteen (16) months prior to such Royalty Adjustment Date and ending twenty-seven (27) months prior to such Royalty Adjustment
Date equals two hundred twenty (220), then on such Royalty Adjustment Date the Intermediates Royalty shall be adjusted by an amount equal to two hundred nine divided by two hundred twenty (209/220), or zero point nine five (0.95), such that, if the
Intermediates Royalty on such Royalty Adjustment Date is equal to [*] per U.S. gallon, the Intermediates Royalty for the subsequent twelve (12) month period shall equal [*] per U.S. gallon of Royalty-Bearing Product in the
Intermediates Field times zero point nine five (0.95), or [*] per U.S. gallon of Royalty-Bearing Product in the Intermediates Field. 
 (b) Liquid Fuels Royalty. Subject to the last sentence of this paragraph, IE shall pay to Codexis [*] per U.S. gallon of Royalty-Bearing Product, where such Royalty-Bearing Product is sold
or transferred in exchange for cash or cash equivalent or other consideration to which value can be assigned for use in the Liquid Fuels Field, by either IE or an IE Affiliate or a sublicensee to (i) IE or an IE Affiliate (where IE or such IE
Affiliate is the end-user of such Royalty-Bearing Product); or (ii) a Third Party; or (iii) Shell or a Shell Affiliate; in each case, after the First Royalty Sale (in all cases, the “Liquid Fuels Royalty”). Notwithstanding the
foregoing, IE and Codexis acknowledge and agree that as of the Effective Date, (A) there is insufficient data available to definitively determine the appropriate royalty rate for the manufacture, use, offer for sale, sale or importation of
Royalty-Bearing Product(s) in the Liquid Fuels Field and (B) Codexis and Shell US have therefore agreed to engage in good faith negotiations regarding such royalty on or before [*]. In the event that Codexis and Shell US agree on a
different rate for such royalty, Codexis and Shell US shall provide written notice

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 3 

 
thereof to IE and such different royalty rate shall be deemed to be the Liquid Fuels Royalty for purposes of this Section 2.01(b) of this Schedule 5.1(c); provided, however,
that, if Codexis and Shell US are unable to agree upon the Liquid Fuels Royalty after such negotiations, the royalty rate shall equal [*] per U.S. gallon of Royalty-Bearing Product; provided, further, that the Liquid Fuels
Royalty shall be adjusted on each Royalty Adjustment Date according to changes in the Index as set forth below. 
 (i)
The initial adjustment shall be made on the date of First Royalty Sale of the first Royalty-Bearing Product in the Fuels Field by multiplying the initial Liquid Fuels Royalty by (A/B), where A = the Monthly Index Average during the most recent
twelve (12) month period for which final, corrected data are available preceding the date of First Royalty Sale of such first Royalty-Bearing Product in the Fuels Field, and B = the Monthly Index Average between November 1, 2007 and the
most recent date for which final data are available prior to the date of First Royalty Sale of such Royalty-Bearing Product. 
 (ii) After the year following the date of First Royalty Sale of the first Royalty-Bearing Product in the Fuels Field, the Liquid Fuels Royalty shall be adjusted annually on each Royalty Adjustment Date by multiplying the then-current
Liquid Fuels Royalty by (X/Y), where X = the Monthly Index Average during the most recent twelve (12) month period preceding such Royalty Adjustment Date for which final, corrected data are available, and Y = the Monthly Index Average for the
twelve (12) month period beginning sixteen (16) months prior to such Royalty Adjustment Date and ending twenty-seven (27) months prior to such Royalty Adjustment Date. 
 The adjustments to the Liquid Fuels Royalty shall be rounded to the nearest [*]. The Liquid Fuels Royalty obtained after each adjustment shall be the Liquid Fuels Royalty due from the applicable
Royalty Adjustment Date until the subsequent Royalty Adjustment Date. 
 By way of example, if the Monthly Index Average during the twelve
(12) month period preceding the date of First Royalty Sale of the first Royalty-Bearing Product in the Fuels Field for which final, corrected data are available equals two hundred twenty (220) and the Monthly Index Average between
November 1, 2007 and the most recent date for which final, corrected data are available prior to the date of First Royalty Sale of such Royalty-Bearing Product equals two hundred (200), then the Liquid Fuels Royalty shall be adjusted by an
amount equal to two hundred twenty divided by two hundred (220/200), or one point one (1.1), such that the Liquid Fuels Royalty for the subsequent twelve (12) month period shall equal [*] per U.S. gallon of Royalty-Bearing Product in the
Liquid Fuels Field times one point one (1.1), or [*] per U.S. gallon of Royalty-Bearing Product in the Liquid Fuels Field. 
 By way of
further example, if the Monthly Index Average during the most recent twelve (12) month period preceding the subsequent Royalty Adjustment Date for which final, corrected data are available equals two hundred nine (209), and the Monthly Index
Average for the twelve (12) month period beginning sixteen (16) months prior to such Royalty Adjustment Date and ending twenty-seven (27) months prior to such Royalty Adjustment Date equals two hundred twenty (220), then on such
Royalty Adjustment

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 4 

 
Date the Liquid Fuels Royalty shall be adjusted by an amount equal to two hundred nine divided by two hundred twenty (209/220), or zero point nine five (0.95), such that, if the Liquid Fuels
Royalty on such Royalty Adjustment Date is equal to [*] per U.S. gallon, the Liquid Fuels Royalty for the subsequent twelve (12) month period shall equal [*] per U.S. gallon of Royalty-Bearing Product in the Liquid Fuels Field
times zero point nine five (0.95), or [*] per U.S. gallon of Royalty-Bearing Product in the Liquid Fuels Field. 
 (c)
Lubricants Royalty. IE and Codexis acknowledge and agree that (i) as of the Effective Date, there is insufficient data available to definitively determine the appropriate royalty rate for the manufacture, use, offer for sale, sale or
importation of Royalty-Bearing Product(s) in the Lubricants Field and (ii) Codexis and Shell US have therefore agreed to engage in good faith negotiations regarding such royalty. Upon agreement of such royalty rate between Codexis and Shell US
(including without limitation any periodic adjustments in such royalty rate, if applicable), Codexis and Shell US shall provide written notice thereof to IE and such royalty rate shall be deemed to be the royalty that IE shall pay to Codexis for
each Royalty-Bearing Product in the Lubricants Fields, where such Royalty-Bearing Product is sold or transferred in exchange for cash or cash equivalent or other consideration to which value can be assigned for use in the Lubricants Field, by either
IE or an IE Affiliate or an IE sublicensee to (A) IE or an IE Affiliate (where IE or such IE Affiliate is the end-user of such Royalty-Bearing Product); or (B) a Third Party; or (C) Shell or a Shell Affiliate; in each case, after the
First Royalty Sale (in all cases, the “Lubricants Royalty”). 
 (d) Notice of First Royalty
Sale. IE shall notify Codexis promptly, in writing, of the date of the First Royalty Sale for each Royalty-Bearing Product and, in the case where such First Royalty Sale is made by a sublicensee of IE or an IE Affiliate, the identity of such
sublicensee. 
 (e) Late Payment Interest. Any payment due and payable to Codexis under the terms and conditions
of this Schedule 5.1(c) made by IE after the date such payment is due to be paid shall bear interest as of the day after the date such payment was due to be paid and shall continue to accrue such interest until payment of the amount due is made. The
interest rate to be applied to any payment not paid when due shall be equal to the lesser of either (i) two percent (2%) above the prime rate as reported by Citibank, New York, New York, or, if Citibank, New York, ceases to report a prime
rate, a mutually acceptable commercial bank, on the date such payment was due to be paid, or (ii) the maximum rate permitted by applicable law on such date, and shall apply until the date that payment is issued by IE to Codexis. 
 Section 2.02 Payment Term. Unless otherwise terminated as provided herein, IE’s payment obligations to Codexis pursuant to
this Schedule 5.1(c) shall continue: 
 (a) In the Intermediates Field until the later of (i) twenty (20) years
after the First Royalty Sale of a Royalty-Bearing Product in the Intermediates Field or (ii) the expiration of the last to expire patent included in the Codexis Introduced Program Technology, the Codexis Research Technology and the IE Jointly
Invented Research Technology; 
  

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 5 

 (b) In the Liquid Fuels Field until the later of (i) twenty (20) years
after the First Royalty Sale of a Royalty-Bearing Product in the Liquid Fuels Field or (ii) the expiration of the last to expire patent included in the Codexis Introduced Program Technology, the Codexis Research Technology and the IE Jointly
Invented Research Technology; and 
 (c) In the Lubricants Field until the later of (i) twenty (20) years after
the First Royalty Sale of a Royalty-Bearing Product in the Lubricants Field or (ii) the expiration of the last to expire patent included in the Codexis Introduced Program Technology, the Codexis Research Technology and the IE Jointly Invented
Research Technology; 
 provided, however, termination of the payment term or expiration of the last to expire patent in any
Codexis Introduced Program Technology, Codexis Research Technology or IE Jointly Invented Research Technology shall have no effect on any license granted in this Agreement. 
  

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Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 6 

 SCHEDULE 11.9 
 ARBITRATION RULES 
 1. Initiation of Arbitration. Upon notice
by any Party to this Agreement to the others (a “Notice to Arbitrate”), any Dispute under this Agreement shall be resolved by arbitration to be held in accordance with the then current Comprehensive Arbitration Rules and Procedures
(“Rules”) of JAMS (“Arbitration Authority”) and this provision. The arbitration shall be held in Denver, Colorado and, unless otherwise agreed by the Parties, all proceedings, hearings and steps in the arbitration
shall take place in Denver, Colorado. The language to be used in the arbitration proceedings shall be English. 
 2. Composition and
Selection of Arbitral Tribunal. The arbitral tribunal (the “Arbitral Tribunal”) shall be composed of one (1) arbitrator, to be selected as follows. Within five (5) business days following delivery of a Notice to
Arbitrate, each Party involved in the dispute shall submit to the Arbitration Authority a one-page summary of the dispute. Promptly thereafter, the Arbitration Authority shall prepare a list of ten (10) prospective arbitrators (the
“Arbitration List”), each of whom shall be independent of the Parties (including any Party that is not involved in the dispute) and shall have appropriate expertise relating to the subject matter of the dispute. The Parties agree
that an arbitrator does not have to be based in Denver to be eligible for inclusion on the Arbitration List. Each Party involved in the arbitration shall be entitled to strike the names of two persons from the Arbitration List by identifying such
names to the Arbitration Authority within ten (10) business days following such Party’s receipt of the Arbitration List. Promptly after the Parties have exercised (or declined to exercise) their rights to strike names from the Arbitration
List, the Arbitration Authority shall appoint the sole arbitrator from the arbitrators who have not been stricken by any of the Parties to the dispute. 
 3. Confidentiality of Proceedings. The arbitration proceedings shall be deemed the Confidential Information of all Parties involved in the arbitration and shall be treated by each Party in
accordance with Article 7 of the Agreement. Subject to the requirements and limitations of Article 7 of the Agreement, any Confidential Information provided by a Party during the arbitration or by any witness presented by such Party shall be treated
as the Confidential Information of the disclosing Party and no Party shall disclose or use such Confidential Information beyond the scope of the arbitration proceeding. 
 4. Powers of Arbitral Tribunal. By submitting to arbitration under these Rules, the Parties shall be taken to have conferred on the Arbitral Tribunal the subject matter jurisdiction and powers set
out in this Schedule 11.8. The Arbitral Tribunal will exercise subject matter jurisdiction and the powers as provided in the Rules and this Schedule 11.8. Without limiting the powers of the Arbitral Tribunal, the Parties agree that the Arbitral
Tribunal may: 
 (a) proceed in the arbitration even if a Party to the arbitration fails or refuses to comply with the Rules or
with the Arbitral Tribunal’s orders or directions, or to attend any meeting or hearing, but only after giving that Party written notice that the Arbitral Tribunal intends to do so; 
  

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 (b) receive and take into account such written and oral evidence, including without
limitation, written interrogatories, tendered by the Parties to the arbitration as the Arbitral Tribunal determines is relevant, whether or not strictly admissible in law; 
 (c) order the Parties to the arbitration and their Affiliates to produce to the Arbitral Tribunal, and to each other for inspection, and to
supply copies of, any documents or classes of documents in the possession or control of such Party or any of their Affiliates which the Arbitral Tribunal determines to be relevant (taking into account such submissions of the Parties as the Arbitral
Tribunal may determine to hear); and 
 (d) order the Parties to the arbitration and their Affiliates to preserve evidence in
any manner the Arbitral Tribunal may determine to be necessary, including by way of the preservation or storage of any property, documents or things under the control of the Parties. 
 5. Awards. The arbitrator(s) shall determine the claim of the Parties and render a final award in accordance with the substantive law of the State of New York, excluding the conflicts provisions of
such law. The Arbitral Tribunal shall render an opinion within fifteen (15) business days after the final hearing before the Arbitral Tribunal, and within six (6) months from the appointment of the Arbitral Tribunal, whichever occurs last;
provided, however, that this six-month deadline may be extended by agreement of the Parties to the arbitration or upon an express finding by the Arbitral Tribunal that it would be impracticable to meet this deadline. Any and all awards of the
Arbitral Tribunal shall be made in writing in accordance with the Rules and shall be final and binding on the Parties. The Arbitral Tribunal shall set forth the reasons for the award in writing. Each of the Parties expressly excludes all and any
rights of appeal from all and any awards. Any award may be entered or enforced in any court of competent jurisdiction against a Party named in the award. All and any awards may include an award of costs (including, without limitation, the fees of
counsel and any other professional advisors retained by the Parties in connection with the dispute), which shall be fixed by the Arbitral Tribunal. The terms of this Schedule 11.8 shall not limit any obligations of a Party to defend, indemnify or
hold harmless another Party against court proceedings or other claims, losses damages or expenses. Notwithstanding anything herein to the contrary, a Party may seek a temporary restraining order or a preliminary injunction from any court of
competent jurisdiction in order to prevent immediate and irreparable injury, loss, or damage on a provisional basis, pending the decision of the arbitrator on the ultimate merits of any dispute. 
  

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Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 2License Agreement

 EXHIBIT 10.6 
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 
 LICENSE AGREEMENT 
 This LICENSE AGREEMENT (the “Agreement”) is made as of November 14, 2008 (the “Effective Date”) by and between Codexis, Inc., a Delaware corporation,
having a place of business at 200 Penobscot Drive, Redwood City, California 94063, United States of America, (“Codexis”) and Dyadic International (USA), Inc., a corporation organized under the laws of Florida, having its
principal office at 140 Intracoastal Pointe Drive, Suite 404, Jupiter, Florida 33477-5094, United States of America, and Dyadic International, Inc., a Delaware corporation, having a place of business at 140 Intracoastal Pointe Drive, Suite
404, Jupiter, Florida 33477-5094, United States of America, (Dyadic International (USA), Inc. and Dyadic International, Inc., collectively, hereinafter “Dyadic”). Codexis and Dyadic are each referred to herein by name or,
individually, as a “Party” or, collectively, as “Parties.” 
 BACKGROUND 
 WHEREAS, Dyadic owns or has rights under certain patent rights and know-how relating to the generation and use of its proprietary
Chrysosporium lucknowense (“C1”) technology for the expression of certain genes and secretion of certain corresponding enzymes and, in addition, Dyadic owns or has rights under certain related Dyadic Materials (as defined
herein); 
 WHEREAS, Codexis desires to obtain a non-exclusive license under such patent rights and know-how of Dyadic
and, in addition, to obtain access to the Dyadic Materials, all on the terms and conditions herein; 
 WHEREAS, Dyadic
desires to grant such license to Codexis, and Dyadic desires to provide access to the Dyadic Materials to Codexis, all on the terms and conditions herein; and 
 WHEREAS, Codexis agrees to provide consideration to Dyadic in exchange for the grant of such license in the form of certain payments and, in addition, in a demonstration of the value of C1
technology in the development and commercialization of one or more certain products, as further described herein. 
 NOW,
THEREFORE, in consideration of the mutual covenants and agreements provided herein below and other consideration, the receipt and sufficiency of which is hereby acknowledged, Dyadic and Codexis hereby agree as follows: 
 ARTICLE 1 
 DEFINITIONS 
 As used in this Agreement, capitalized terms shall have the meanings indicated in this Article 1
or as specified elsewhere in this Agreement: 

 1.1 “Affiliate” means, with respect to any Person, any other Person
that is controlled by, controls, or is under common control with such first Person, as the case may be. For purposes of this Section 1.1, the term “control” means (a) direct or indirect ownership of fifty percent (50%) or
more of the voting interest in the entity in question, or fifty percent (50%) or more interest in the income of the entity in question; provided, however, that if local Law requires a minimum percentage of local ownership of greater than fifty
percent (50%), control will be established by direct or indirect beneficial ownership of one hundred percent (100%) of the maximum ownership percentage that may, under such local Law, be owned by foreign interests, or (b) possession,
directly or indirectly, of the power to direct or cause the direction of management or policies of the entity in question (whether through ownership of securities or other ownership interests, by contract or otherwise). 
 1.2 “Broad Codexis Product” means any Licensed Product that is (a) a protein that is not included within the
Dyadic Materials and that is produced by a Broad Production Strain; (b) a combination of any protein not included within the Dyadic Material that materially enhances the performance or value of the Licensed Product with any protein(s) included
in the Dyadic Materials for use in Category A and/or Category F; (c) a combination of proteins included within the Dyadic Materials that is produced in a ratio that is different than the ratio produced by the Dyadic Materials; or (d) any
protein(s) that is produced by a strain other than a Production Strain that incorporates any component of the Dyadic Materials or any derivative or modification thereof. 
 1.3 “Broad Production Strain(s)” means any strain generated by Codexis utilizing the Dyadic Material, or any derivative or modification thereof, and/or the Licensed IP that
produces a Licensed Product for use in Category A and/or Category F. 
 1.4 “C1 Strains” means,
individually and collectively, the Dyadic strains identified on Exhibit D, together with any progeny (but not any derivatives or modifications) of such strains. 
 1.5 “Category” means any of the categories A, B, C, D, E and/or F as set forth on Exhibit A. 
 1.6 “Codexis Exclusive Partner” has the meaning set forth in Section 2.1(c)(1). 
 1.7 “Codexis Product” means any Narrow Codexis Product and/or any Broad Codexis Product. 
 1.8 “Confidential Information” means any information of a confidential and proprietary nature, including but not limited to know-how, information, invention disclosures, patent
applications, proprietary materials and/or technologies, economic information, business or research strategies, purchase orders (and any information included therein), trade secrets, and material embodiments thereof, disclosed by a Party to the
other Party and characterized to the receiving Party as confidential. For clarity, any reports delivered by Codexis to Dyadic under this Agreement, including without limitation pursuant to Section 4.1, shall be deemed to be the Confidential

  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 2 

 
Information of Codexis. The Dyadic Materials shall be considered Confidential Information of Dyadic. 
 1.9 “Contract Activities” means any activities directed to [*]. 
 1.10 “Control” or “Controlled” means, with respect to all or any portion of any gene, the gene itself, protein, compound, material, information or intellectual property right, that the Party owns or
has a license to any portion of any such gene, the gene itself, protein, compound, material, information or intellectual property right and has the ability to grant to the other Party access, a license or a sublicense (as applicable) to any portion
of any such gene, the gene itself, protein, compound, material, information or intellectual property right as provided for herein without violating the terms of any agreement or other arrangements with any Third Party. 
 1.11 “Dollar” or “$” means the lawful currency of the United States. 
 1.12 “Dyadic Material” means, individually and collectively, (a) the C1 Strains, and (b) the promoters,
fusion proteins, signal peptides, selectable markers, vectors, genetic constructs, genes, expression products, DNA and other materials set forth on Exhibit D, together with any progeny (but not any derivatives or modifications) thereof.

 1.13 “Escrow Agreement” means that certain Escrow Agreement between Codexis and Dyadic, substantially
in the form attached hereto as Exhibit K, pursuant to which the license issuance fee paid by Codexis to Dyadic pursuant to Section 3.1(c) will be held and, after satisfaction of the certain conditions set forth on Schedule 1.13, released
to Dyadic, as further described therein. 
 1.14 “Field” means any and all Categories. 
 1.15 “First Commercial Sale” means, with respect to each Category, the milestone event set forth on Exhibit B
for such Category. 
 1.16 “Improvement” means any invention comprising the composition of matter of,
process of making, or methods of using (a) the [*] or other [*] covered by a Valid Claim, (b) any gene, portion of any gene, protein, promoter, signal peptide, terminator, or integration site obtained from the [*] or the other [*]
described in subsection (a) of this Section 1.16, (c) any progeny, derivative, or modification of (a) or (b), or (d) any mixture of proteins in specified ratios produced using the [*], or a derivative or modification
thereof. For purposes of clarification, notwithstanding anything to the contrary, “Improvement” does not include any invention that is (i) an enhancement, modification, or improvement of, or to, any expression product (or the gene
that encodes for such expression product), including without limitation any such [*] contained within the [*] and/or covered by a Valid Claim except where the invention improves the [*] generally (which shall be included within Improvements), or
(ii) Shuffling Technology. 
  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 3 

 1.17 “Law” means, individually and collectively, any and all laws,
ordinances, orders, rules, rulings, directives and regulations of any kind whatsoever of any governmental, court or regulatory authority within the applicable jurisdiction. 
 1.18 “Licensed IP” means the (a) Licensed Patents; and (b) Licensed Know-how. 
 1.19 “Licensed Know-how” means, to the extent necessary or reasonably useful for the (a) research, development,
manufacture, use or sale of Licensed Products, or (b) research, development or use of a Production Strain, any and all technical information, information regarding genetic mutations, regulatory information, clinical information, know-how,
processes, procedures, methods, formulae, protocols, techniques, software and data, which are not claimed in, covered by or otherwise disclosed in the Licensed Patents, that (i) Dyadic Controls as of the Effective Date, and (ii) is
directly related to the Licensed Patents, the Dyadic Materials or a Production Strain. 
 1.20 “Licensed
Patents” means (a) the Patents listed on Exhibit C, and (b) any and all other Patents Controlled by Dyadic as of the Effective Date related to the C1 expression system, the C1 high-throughput screening system and/or any
C1-derived enzymes (and the genes encoding the same) that are necessary or useful [*]. 
 1.21 “Licensed
Product” means any product (a) with respect to which Codexis and/or its Affiliates has (i) conducted research and/or development activities and (ii) a material commercialization interest at the time of the first commercial
sale or use of such product, and (b) (i) the manufacture, use, sale, offer for sale, or import of which would, but for the rights granted to Codexis pursuant to Section 2.1(a), infringe a Valid Claim; or (ii) that arose from, or
whose manufacture involves, the use of any of the Dyadic Materials or any derivative or modification of any the Dyadic Materials. 
 1.22 “MTEP” means metric ton of enzyme protein. 
 1.23 “Narrow Codexis
Product” means any Licensed Product, excluding any Broad Codexis Product, that is produced by a Narrow Production Strain and is (a) a protein that is not included within the Dyadic Materials; or (b) a combination of any protein
not included within the Dyadic Material that materially enhances the performance or value of the Licensed Product with any protein(s) included in the Dyadic Materials. 
 1.24 “Narrow Production Strain(s)” means any strain generated by Codexis utilizing the Dyadic Material, or any derivative or modification thereof, and/or the Licensed IP that
produces a Licensed Product for use in Category B, C, D or E. 
 1.25 “Patents” means all:
(a) United States and foreign patents, re-examinations, reissues, renewals, extensions and term restorations, inventors’ certificates and counterparts thereof; and (b) pending applications for United States and foreign patents,
including, without limitation, provisional applications, continuations, continued prosecution, divisional and substitute applications, and counterparts thereof. 
  

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 4 

 1.26 “Person” means any individual, corporation, partnership,
association, joint-stock company, trust, unincorporated organization or government or political subdivision thereof. 
 1.27
“Production Strain” means any Narrow Production Strain and/or any Broad Production Strain. 
 1.28
“Shuffling Technology” means any and all techniques, methodologies, processes, materials and/or instrumentation, including without limitation any and all Patents, know-how, confidential information and materials relating
thereto, that, in each case, relates to the characterization, development and optimization of genes and proteins for commercial uses through the recombination and/or rearrangement and/or mutation of genetic material for the creation of genetic
diversity, and generally applicable screening techniques, methodologies, or processes of using the resulting genetic material to identify potential usefulness. 
 1.29 “Territory” means worldwide. 
 1.30
“Third Party” means any Person other than Dyadic, Codexis, or any Affiliate of either Dyadic or Codexis. 
 1.31 “Valid Claim” means (a) any claim of an issued and unexpired patent within the Licensed Patents which has not been held unenforceable or invalid by a court or other governmental agency of competent
jurisdiction in a decision that is not appealed or is unappealable, and which patent has not been disclaimed or admitted to be invalid or unenforceable through reissue or otherwise, or (b) a pending claim in a pending patent application within
the Licensed Patents that has not been abandoned, finally rejected, or expired without the possibility of appeal or refiling. 
 ARTICLE 2 
 LICENSES AND TECHNOLOGY TRANSFER 
 2.1 Grants to Codexis. 
 (a) Licensed IP and Dyadic Materials. Subject to the terms and conditions of this Agreement, including without limitation Section 2.5(a), Dyadic hereby grants to Codexis and its Affiliates a
non-exclusive, [*] right and license, with the right to grant sublicenses through [*] in accordance with Section 2.1(c), under the Licensed IP, to develop, make, have made, use, sell, offer for sale and import Licensed Products, and to use the
Dyadic Materials to develop, make, have made, use, sell, offer for sale and import Licensed Products, for use in the Field in the Territory. Notwithstanding anything to the contrary, the licenses granted pursuant to this Section 2.1(a) do not
include a license for Codexis to provide Contract Activities. 
 (b) Copyrights. Subject to the terms and conditions of
this Agreement, Dyadic hereby grants to Codexis and its Affiliates a non-exclusive, fully paid right and license under any and all copyrights in the Dyadic Materials, with the right to grant sublicenses [*] in accordance with Section 2.1(c), to
reproduce and distribute copies of instruction manuals and information within the

  

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 5 

 
Dyadic Materials, and to incorporate such copyrighted works within the Dyadic Materials, in whole or in part, into derivative works for distribution, as reasonably necessary to practice the
rights and license granted to Codexis under Section 2.1(a). Dyadic will retain all other rights in such copyrighted works within the Dyadic Materials; provided that Codexis will own any copyright in derivative works created by, or on behalf of,
Codexis. 
 (c) Sublicenses. The licenses granted pursuant to Section 2.1(a) and Section 2.1(b) include the
right to grant sublicenses through multiple tiers of sublicensees within the scope of such license set forth in this Section 2.1(c) pursuant to a written agreement (each a “Sublicense Agreement”) as follows: 
 (1) In Category A, Codexis may grant sublicenses pursuant to this Section 2.1(c) [*] (the “Codexis Exclusive
Partner”) and in accordance with this Section 2.1(c) and Section 2.5; 
 (2) In Categories B, C, D, and E
and, subject to Section 8.3, Category F, Codexis may grant sublicenses pursuant to this Section 2.1(c) to any Third Party, other than [*], solely in accordance with this Section 2.1(c) and Section 2.5; and 
 (3) With respect to each sublicense granted by Codexis, Codexis shall grant such sublicense only in connection with the assignment or
license by Codexis to such Third Party sublicensee of a right, under intellectual property owned or otherwise controlled by Codexis that was not licensed from Dyadic hereunder, to make, have made, use, sell or import (a) any Codexis Product in
the case of a sublicense with respect to Category A and/or Category F, or (b) a Narrow Codexis Product in the case of a sublicense with respect to Category B, C, D and/or E. Codexis may not transfer any Dyadic Materials, or any derivative or
modification thereof, to any Third Party other than (x) as a Licensed Product and/or a Production Strain in accordance with this Section 2.1(c)(3), and (y) under the terms of a Sublicense Agreement. Notwithstanding the foregoing,
Codexis may transfer to its sublicensee(s) [*]. For purposes of this Section 2.1(c)(3), “reverse engineering” means the identification, modification, derivatization or other manipulation of genetic material included in a Production
Strain, including for example any gene, portion of any gene, promoter, regulator, inducer, metabolic pathway, metabolomics, trancriptomics, secretion signal, vector, plasmid, protein, compound, or other material in or of such Production Strain.
Codexis shall remain obligated to make all payments due to Dyadic under the terms of this Agreement with respect to the activities of its Third Party sublicensees with respect to Licensed Products. Codexis shall remain fully responsible to Dyadic
for the performance of its sublicensee(s). Promptly following execution of any Sublicense Agreement hereunder, Codexis shall notify Dyadic in writing of the identity of the sublicensee, such information to be Codexis Confidential Information and
subject to the restrictions set forth in Article 6. Upon a written request of Dyadic, Codexis will provide a complete copy of any Sublicense Agreement to an independent law firm, mutually acceptable to both Dyadic and Codexis, to review the terms of
such Sublicense Agreement and the terms of this Agreement and, after such review, provide to Dyadic a written statement that the terms of such Sublicense Agreement are or are not consistent with the terms of this Section 2.1(c). Such
independent law firm

  

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 6 

 
shall provide no other information to Dyadic regarding such Sublicense Agreement. All information provided to Dyadic by such independent law firm will be Codexis Confidential Information and
subject to the restrictions set forth in Article 6. 
 2.2 Bona Fide Offer. At any time [*] anniversary of the Effective
Date, if Dyadic receives a written offer from a Third Party (the “Offering Party”) for an exclusive license with respect to the Licensed IP and/or the Dyadic Materials for any particular Category or Categories, other than Category A
and/or Category F, (the “Subject Category or Categories”) on financial terms that are more favorable, when taken as a whole, than those set forth herein with respect to such Subject Category or Categories (a “Bona Fide
Offer”), then Dyadic shall provide written notice thereof to Codexis. Codexis shall have the right, but not the obligation, to pay to Dyadic the First Commercial Sale milestone payment set forth in Section 3.3(a) with respect to such
Subject Category or Categories and, if Codexis makes such payment within [*] days after the date of delivery to Codexis by Dyadic of such notice, then (a) Dyadic will have no right to terminate the rights and licenses granted by Dyadic to
Codexis with respect to such Subject Category or Categories hereunder pursuant to this Section 2.2, (b) Dyadic shall have no further rights to present any additional Bona Fide Offers to Codexis pursuant to this Section 2.2 with
respect to such Subject Category or Categories for which Codexis has made such payment, and (c) Codexis shall have no further payment obligations to Dyadic under Section 3.3(a) with respect to such Subject Category or Categories. If
Codexis does not make such payment within such [*] day period, Dyadic shall have the right, for a period of [*] days after the expiration of such [*] day period, which may be extended by [*] days upon written notice by Dyadic to Codexis, (the
“Negotiation Period”) to enter into an exclusive license agreement with respect to such Subject Category or Categories on financial terms at least as favorable to Dyadic as those set forth in the Bona Fide Offer. In the event that
Dyadic enters into such an agreement during the Negotiation Period, Dyadic shall promptly provide written notice thereof to Codexis and the licenses granted to Codexis hereunder with respect to such Subject Category or Categories, but only with
respect to such Subject Category or Categories, shall terminate for all purposes of this Agreement as of the date of Codexis receipt of such written notice. In the event that Dyadic does not provide such written notice to Codexis within [*] business
days after the expiration of the Negotiation Period that Dyadic has entered into such an agreement, such written notice to include the name of and contact information for the Offering Party, the licenses granted to Codexis with respect to such
Subject Category or Categories shall remain in full force and effect, unless otherwise terminated pursuant to this Agreement. 
 2.3 Diligence Requirements. Dyadic will have an option to provide written notice to Codexis that the licenses granted to Codexis under Section 2.1(a) and Section 2.1(b) with respect to any particular Category for which
Codexis (a) has not achieved First Commercial Sale (other than Category A and/or Category F) and (b) has not made a payment of the First Commercial Sale milestone payment in accordance with Section 2.2, will terminate [*] days after
the date of such notice, in accordance with the following: 
 (a) At any time after [*] years after Codexis is required
to make the payment set forth in Section 3.1(c), unless Codexis makes the payment pursuant to

  

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Section 3.2(a) for such Category and, if Codexis makes such payment pursuant to Section 3.2(a), such licenses for such Category will not terminate for all purposes of this Agreement and
will continue in full force and effect for a period of [*] years after Dyadic’s receipt of such payment (unless otherwise terminated as set forth in this Agreement); and 
 (b) At any time after [*] years after Dyadic’s receipt of the payment pursuant to Section 2.3(a) (i.e. a first payment
pursuant to Section 2.3(a)), unless Codexis makes a payment pursuant to Section 3.2(a) (i.e. a second payment pursuant to Section 2.3(a)) for such Category and, if Codexis makes such payment pursuant to Section 3.2(a), such
licenses will not terminate for all purposes of this Agreement and will continue in full force and effect for a period of [*] years after Dyadic’s receipt of such payment (unless otherwise terminated as set forth in this Agreement), upon which
date the licenses shall terminate for all purposes of this Agreement, unless Codexis makes the payment set forth in Section 3.3(a). 
 If Codexis does not make any payments in accordance with this Section 2.3, the licenses granted to Codexis with respect to such Category or Categories shall terminate (the “Terminated Category or Categories”)
and Dyadic shall be free to grant licenses, whether exclusive or non-exclusive, in Dyadic’s sole discretion, with respect to such Terminated Category or Categories.  
 2.4 Acknowledgement. By entering into this Agreement with Dyadic, Codexis acknowledges that the Licensed IP and the Dyadic
Materials have value to Dyadic and, in addition, may have value to Codexis in connection with the development and commercialization of one or more Codexis Products. As a result, Codexis agrees that it will (a) make all payments set forth in
Article 3; (b) not transfer any Codexis Product to any Third Party except through a sale or other transaction that would result in the payment of milestones to Dyadic pursuant to Section 3.3; and (c) not grant a right to any Third
Party with respect to any Codexis Product other than pursuant to a Sublicense Agreement in accordance with Section 2.1(c). 
 2.5 Restrictions on Use and Transfer of the Dyadic Materials and Production Strains. 
 (a) The
Dyadic Materials, the Production Strains and any derivatives or modifications thereof, shall be used by Codexis and its Affiliates (i) only in accordance with this Agreement, including, with respect to Third Party sublicensees of Codexis,
Section 2.1(c), and (ii) in compliance with Law. 
 (b) Codexis shall not (i) deliver or transfer any C1
Strain to any Third Party, or (ii) deliver or transfer any Production Strain to any Third Party except pursuant to a Sublicense Agreement in accordance with Section 2.1(c). 
 (c) The Production Strains, the Dyadic Materials and any derivatives or modifications thereof must be used by Codexis and its
Affiliates with prudence and appropriate caution [*]. 
  

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 (d) Unless otherwise agreed upon in writing by the Parties, the restrictions set
forth in Section 2.1(c)(3) regarding [*]. 
 (e) In the event that Dyadic has a reasonable basis to believe that
Codexis, or any Affiliate or sublicensee of Codexis or its Affiliates, is using or has used any of the Dyadic Materials or any Production Strain in a manner that is inconsistent with the terms of this Agreement, Dyadic shall provide written notice
to Codexis describing such reasonable basis prior to initiating any legal action or proceeding. As soon as practicable, but in no event later than [*] business days after Codexis’ receipt of such written notice, the Parties shall confer, either
in person or by telephone, to discuss and attempt to resolve Dyadic’s concerns. In the event that Dyadic’s concerns are not resolved in such conference, Codexis will initiate an investigation regarding Dyadic’s concerns and, in a
separate conference, either in person or by telephone, will provide to Dyadic a summary of its findings. 
 2.6 Materials
Delivery; Technology Transfer. 
 (a) Dyadic, utilizing Dyadic’s usual and customary means of shipment of similar
materials, shall deliver to Codexis the Dyadic Materials within [*] days after the Effective Date. For purposes of this Agreement, Codexis shall be deemed to have received the Dyadic Materials upon receipt by Codexis and/or its Affiliates of all of
the materials set forth on Exhibit D at the facility(ies) designated in writing by Codexis to Dyadic. In the [*] month period after receipt of the Dyadic Materials by Codexis, Dyadic shall provide to Codexis, [*], information and technical
assistance reasonably requested by Codexis, including, but not limited to, up to [*] full time equivalents (“FTEs”), to facilitate an effective transfer of the Licensed Know-how from Dyadic to Codexis (the “Initial FTE
Requirement”). For purposes of clarification, the work conducted by Dyadic and/or its Affiliates at its facilities in The Netherlands in training Codexis personnel in the use of, including without limitation in the conduct of validation
activities with respect to, the Dyadic Materials shall be included in the Initial FTE Requirement. Information and technical assistance shall be provided by Dyadic to Codexis pursuant to a technology transfer plan to be agreed upon by the Parties
with the goal of cost-effectiveness and reasonableness. In addition, upon Codexis’ request, after the expiration of such [*] month period, Dyadic shall provide or, upon prior written agreement by Codexis, shall use good faith diligent efforts
to arrange for the [*] to provide, Codexis with up to [*] FTEs to support Codexis in each of the [*] years after receipt of the Dyadic Materials by Codexis. Codexis shall reimburse Dyadic for such support in such [*] years at a rate equal to [*] per
FTE per year in the [*] year, such rate to increase by [*] on each anniversary, beginning on the [*] anniversary, of the receipt of the Dyadic Materials by Codexis or, if such support is provided to Codexis by [*], Codexis shall [*], as applicable.
In addition, if Codexis requests that such support, or the FTE support described above with respect to the first [*] months after receipt of the Dyadic Materials by Codexis, be provided at Codexis’ facilities, Codexis shall [*] Dyadic (or [*],
as applicable) for [*]. For clarity, the obligations under this Section 2.6(a) relate to information and technical assistance relating solely to the Licensed IP, and it is understood and agreed that Dyadic shall not be required to transfer any
information hereunder that is not Licensed IP, or to generate any Licensed Know-how in any format in which it does not already exist. 
  

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 (b) At any time or from time to time after the delivery of the Dyadic Materials to
Codexis pursuant to Section 2.6(a), Dyadic, within [*] days after a written request by Codexis, will [*]; provided, however, that if such request occurs after the payment to Dyadic pursuant to Section 3.1(c), (i) Dyadic’s
obligations [*] shall be limited to materials for [*] at the time of receipt of such written request, and (ii) Codexis shall reimburse Dyadic for its [*] incurred with the [*] of any such [*]. 
 (c) Dyadic shall retain all right, title and interest in and to the Dyadic Materials, subject to the rights and licenses granted to
Codexis herein. 
 2.7 Covenant [*]. 
 (a) Dyadic Covenant. [*]. 
 (b) Codexis Covenant. [*].

 (c) Covenant Agreements. Dyadic and Codexis each agrees to indemnify, defend and hold harmless the Codexis
Indemnitees or the Dyadic Indemnitees, as applicable, and the other Party’s licensees, sublicensees, distributors and customers from and against any and all liability, damage, loss, cost, or expense (including without limitation reasonable
attorneys’ fees) arising out of claims or suits brought by or on behalf of any Codexis Party or Dyadic Party, as applicable, alleging [*] set forth in this Section 2.7, in each case in accordance with the indemnification procedures set
forth in Section 7.3. Dyadic and Codexis each agrees to (i) identify the other Party (either specifically or by reference to such other Party as a licensee or sublicensee) in writing in each Covenant Agreement [*] in this Section 2.7;
and (ii) require, in each Covenant Agreement, that the relevant Codexis Party or Dyadic Party, as applicable, agree (x) not to assign, sell or otherwise transfer any Patent covered by the Covenant Agreement to a Third Party unless such
Third Party agrees to be bound by the Covenant Agreement and (y) that any such sale, assignment or transfer in contravention of this requirement shall be deemed void and ineffective. 
 2.8 No Other Rights. Dyadic and Codexis each acknowledges that the rights and licenses granted under this Article 2 and elsewhere in
this Agreement are limited to the scope expressly granted. Accordingly, except for the rights expressly granted under this Agreement, no right, title, or interest of any nature whatsoever is granted whether by implication, estoppel, reliance, or
otherwise, by either Party to the other Party. All rights with respect to technology, patents or other intellectual property rights that are not specifically granted herein are reserved to the owner thereof. 
  

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 ARTICLE 3 
 LICENSE FEES 
 3.1 License Issuance Fees. In consideration of
the rights and licenses granted by Dyadic hereunder, Codexis shall pay the [*] fees as follows: 
 (a) [*]; 

(b) [*]; 
 (c) [*]; 
 Notwithstanding anything to the contrary, if after Codexis or its designee conducts reasonable due diligence and
validation activities with respect to the Dyadic Materials, Codexis determines, on or before [*] days after receipt of the Dyadic Materials by Codexis, that the Dyadic Materials do not satisfy the performance criteria set forth on Exhibit E,
Codexis shall not be required to pay any payment under Sections 3.1(a), 3.1(b) and 3.1(c) that would have been due after such determination. For purposes of clarification, Dyadic will train Codexis personnel in the use of, including without
limitation in the conduct of validation activities with respect to, the Dyadic Materials in its facilities in The Netherlands; provided, however, that the determination of whether the Dyadic Materials received by Codexis from Dyadic do or do not
satisfy the performance criteria set forth in Exhibit E will be made by Codexis personnel in Codexis’ facilities in accordance with this Section 3.1. In the event that data obtained by Codexis, as of the expiration of the [*] day
period beginning on the date of receipt by Codexis of the Dyadic Materials, indicate that the Dyadic Materials do not satisfy the performance criteria set forth on Exhibit E, samples of the Dyadic Materials received by Codexis from Dyadic
will be provided to a skilled practitioner for analysis and a final determination as to whether the Dyadic Materials do or do not satisfy such performance criteria; provided however, that prior to providing such Dyadic Materials to such a skilled
practitioner, Codexis shall notify Dyadic of Codexis data, and Dyadic, at Dyadic’s expense, shall have the right to send a Dyadic representative to Codexis’ facility where such performance criteria were tested to repeat the determination
of such performance criteria. The Parties agree that [*] will be enlisted as the skilled practitioner to resolve any dispute between the Parties as to whether the Dyadic Materials do or do not satisfy such performance criteria. If it is determined
upon mutual agreement of the Parties, or through the good faith efforts of [*], that the Dyadic Materials do not satisfy the performance criteria, this Agreement shall terminate in accordance with Section 10.2(d) and, within [*] days after the
effective date of such termination, Dyadic shall reimburse Codexis in full for each payment made by Codexis under Section 3.1(a) and Section 3.1(b), as applicable, [*] as of the date such payment was originally made to Dyadic and, in
addition, all fees held in escrow as a consequence of the payment made by Codexis under Section 3.1(c) shall be released to Codexis pursuant to the terms of the Escrow Agreement. The fees and expenses incurred in connection with the
verification of the performance of the Dyadic Materials

  

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shall be paid by Dyadic if it is determined that the Dyadic Materials do not satisfy such performance criteria and by Codexis if it is determined that the Dyadic Materials do satisfy such
performance criteria. For purposes of clarification, in the event that data obtained by Codexis, on or before the expiration of the [*] day period beginning on the date of receipt by Codexis of the Dyadic Materials, indicate that the Dyadic
Materials do not satisfy the performance criteria set forth on Exhibit E, Codexis shall have no obligation to make any payment to Dyadic pursuant to Section 3.1(a), 3.1(b) or 3.1(c) that has not been made by Codexis prior to such
determination by Codexis unless and until there has been a final determination in accordance with this Section 3.1 that the Dyadic Materials do satisfy such performance criteria. 
 (d) On or before the Effective Date, the Parties will enter into the Escrow Agreement. Notwithstanding anything to the contrary, the
Escrow Agreement will provide that, in the event that the certain conditions set forth on Schedule 1.13 have not been satisfied within [*] days after the Effective Date, all fees held in escrow as a consequence of the payment made by Codexis under
Section 3.1(c) shall be released to Codexis. 
 3.2 License Maintenance Fees. 
 (a) In the event that Dyadic provides a written notice to Codexis pursuant to Section 2.3(a), or pursuant to Section 2.3(b),
with respect to any particular Category (other than Category A and/or Category F), Codexis shall have a right, but not an obligation, to pay to Dyadic, within ninety (90) days after receipt of such notice, a payment equal to [*] of the
applicable total payment for such particular Category set forth in Section 3.3(a). In the event that Codexis makes such a payment, the licenses set forth in Section 2.1(a) and Section 2.1(b) shall not terminate with respect to such
particular Category, and shall continue in full force and effect with respect to such particular Category for the period specified in Section 2.3 (unless otherwise terminated as set forth in this Agreement). 
 (b) [*] of any payment made under Section 3.2(a) with respect to any particular Category shall be creditable against the payment
made by Codexis for such particular Category pursuant to Section 3.3(a) and Codexis shall make the balance of any payment due pursuant to Section 3.3(a) when it becomes due, regardless of whether Codexis has made a payment under
Section 3.3(a). If Codexis makes a payment for any particular Category pursuant to Section 3.3(a), including without limitation for purposes set forth in Section 2.2, Codexis shall have no obligation to make any payments under
Section 3.2(a) thereafter with respect to such particular Category, and the licenses set forth in Section 2.1(a) and Section 2.1(b) with respect to such particular Category shall remain in full force and effect through the Term
(unless otherwise terminated as set forth in this Agreement). 
 3.3 Milestone Payments. 
 (a) First Commercial Sale. 
  

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 (i) Within [*] days after the First Commercial Sale of a Licensed Product, on a
Category-by-Category basis, Codexis shall pay to Dyadic the [*] milestone payments set forth, on a Category-by-Category basis, on Exhibit F, less [*] of any amounts previously paid by Codexis for the Category that includes such Licensed
Product pursuant to Section 3.2(a). For the purposes of clarification, (i) in the event of a First Commercial Sale of a second Licensed Product in any Category, no additional payment shall be due under this Section 3.3(a), and
(ii) in the event that Codexis has made a payment to Dyadic for a particular Category for purposes set forth in Section 2.2, no additional payment shall be due to Dyadic upon a First Commercial Sale of a Licensed Product in such Category.

 (ii) Notwithstanding anything to the contrary, Codexis shall pay to Dyadic the [*] milestone payment set forth on Exhibit
F corresponding to Category F only after the First Commercial Sale of a Licensed Product in Category F by and for the benefit of a Person (including Codexis) other than the Codexis Exclusive Partner (including for Codexis or its Affiliates).
Accordingly for purposes of clarification, in the event that there is a First Commercial Sale of a License Product in Category F by or for the benefit of the Codexis Exclusive Partner, Codexis shall have no obligation to pay to Dyadic the [*]
milestone payment set forth on Exhibit F corresponding to Category F under this Section 3.3(a). 
 (b) Facility
Fees.  
 (i) For the first (1st) [*] years after the First Commercial Sale of the first Licensed Product in the
Field by or for the benefit of the Codexis Exclusive Partner in Category A or Category F (as applicable), for each commercial scale facility used to manufacture Licensed Products for use in such Category by or for the benefit of the Codexis
Exclusive Partner, that starts operations during such [*] year period and utilizes any Licensed Product, Codexis shall pay to Dyadic, within [*] days after the start of such operations at such facility, a [*] fee equal to [*] per (A) [*] of
annual end-product capacity in Category A, with respect to facilities used to produce such end-product or (B) annual capacity to produce the amount of [*] for use in Category F that would be sufficient to produce [*] of annual end-product
capacity in Category A, with respect to facilities used to produce such [*]; provided that Codexis shall not be required to pay any amount greater than [*] under this Section 3.3(b)(i) with respect to any particular commercial scale facility;
provided further that, any and all payments (including such [*] limit) due under this Section 3.3(b)(i) shall be reduced by [*] for each commercial scale facility located in a jurisdiction in which no Valid Claim exists covering the
development, manufacture, use, sale, offer for sale, importation or other exploitation of any Licensed Product produced at such facility. Any expansion of such a commercial scale facility within such [*] year period shall be subject to additional
fees based on the size of such expansion, subject to the forgoing [*] cap per facility. For purposes of illustration, if a facility having [*] per year end-product capacity in Category A becomes operational during the seven (7) year period
after the First Commercial Sale of the first Licensed Product in the Field by or for the benefit of the Codexis Exclusive Partner in Category A in a jurisdiction in which a Valid Claim exists, Codexis will pay to Dyadic a facility fee equal to [*].
If, during such [*] year period such facility’s capacity

  

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is expanded to [*] per year of end-product in Category A and a Valid Claim exists in such jurisdiction at the time of such expansion, Codexis will pay to Dyadic an additional [*]. 
 (ii) For the first (1st) [*] years after the First Commercial Sale of the first Licensed Product in the Field by and for the benefit
of a Person (including Codexis) other than the Codexis Exclusive Partner in Category F (including by and for Codexis or its Affiliates), for each commercial scale facility used to manufacture Licensed Products for use in Category F by and for the
benefit of such a Person, that starts operations during such [*] year period and utilizes any Licensed Product, Codexis shall pay to Dyadic, within [*] days after the start of such operations, a [*] fee equal to (A) [*] if annual biomass
processing capacity at such facility is greater than [*] metric tons but less than [*] metric tons, or (B) [*] if annual [*] capacity at such facility is greater than [*] metric tons; provided that any and all payments due under this
Section 3.3(b)(ii) shall be reduced by [*] for each commercial scale facility located in a jurisdiction in which no Valid Claim exists covering the development, manufacture, use, sale, offer for sale, importation or other exploitation of any
Licensed Product produced at such facility. Any expansion of a commercial scale facility having an annual [*] capacity less than [*] metric tons or [*] metric tons, respectively, within such [*] year period shall be subject to a fee based on the
size of such expansion. For purposes of illustration, if a commercial scale facility with an annual biomass processing capacity less than [*] metric tons is expanded to have an annual biomass processing capacity greater than [*] metric tons but less
than [*] metric tons during the [*] year period after the First Commercial Sale of the first Licensed Product for use in Category F by and for the benefit of a Person (including Codexis) other than the Codexis Exclusive Partner in a jurisdiction in
which a Valid Claim exists at the time such expanded facility becomes operational, Codexis will pay to Dyadic a facility fee equal to [*]. For purposes of further illustration, if a commercial scale facility with an annual [*] capacity equal to [*]
metric tons is expanded to have an annual [*] capacity greater than [*] metric tons during the [*] year period after the First Commercial Sale of the first Licensed Product for use in Category F by and for the benefit of a Person (including Codexis)
other than the Codexis Exclusive Partner in a jurisdiction in which a Valid Claim exists at the time such expanded facility becomes operational, Codexis will pay to Dyadic an additional [*]. 
 (iii) For purposes of clarification, no commercial scale facility used to manufacture Licensed Products for use in the Field in Categories
B, C, D and/or E shall be subject to a facility fee under this Section 3.3(b). For purposes of further clarification, after the expiration of the [*] year period after the First Commercial Sale of the first Licensed Product in the Field, no
further payments under this Section 3.3(b) shall be due to Dyadic. 
 (c) Enzyme Volume Fee. For the first
(1st) [*] years after the First Commercial Sale of the first Licensed Product in the Field in each of Categories B, C, D and/or E, as applicable, Codexis shall pay to Dyadic an enzyme volume fee based on the cumulative total quantity of all
Licensed Products sold in the Field in Categories B, C, D and/or E, as set forth in Exhibit G. The fees due pursuant to this Section 3.3(c) shall be based on the cumulative volume of Licensed Product(s) sold in Categories B, C, D and/or
E; provided that any volume of Licensed Product sold after the applicable [*] year period for any particular Category shall not be included in the

  

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cumulative volume calculation. For purposes of clarification, volumes with respect to Licensed Products in the Field in Category A and Category F are not included in the calculation of enzyme
volume under Exhibit G and are not included in calculation of any fees payable under this Section 3.3(c). For purposes of further clarification, after the expiration of the [*] year period after the First Commercial Sale of the first
Licensed Product in the Field in a particular Category, no further payments under this Section 3.3(c) shall be due to Dyadic on any Licensed Product in such particular Category. 
 (d) Category F Products Fee. During the first (1st) [*] years after the First Commercial Sale of the first Licensed Product in
the Field in Category F by and for the benefit of a Person (including Codexis) other than the Codexis Exclusive Partner, Codexis shall pay to Dyadic a fee equal to [*] per metric ton of [*] produced. [*]. 
 ARTICLE 4 
 PAYMENT AND REPORTS 
 4.1 Facility Fee Reports and Payments. For each calendar quarter after the First
Commercial Sale of the first Licensed Product in the Field in Category A and/or Category F, within [*] days after the end of each such calendar quarter, Codexis shall determine and shall deliver to Dyadic a report specifying (a) each facility
for which a Facility Fee is due under Section 3.3(b), (b) the end-product or [*] capacity thereof, as applicable, and (c) the amount payable to Dyadic under Section 3.3(b). Any and all payments payable to Dyadic under
Section 3.3(b) shall be due and payable within [*] days after the end of the calendar quarter in which the particular commercial scale facility initiated operations for purposes of Section 3.3(b). If no payment is due, Codexis shall so
report. 
 4.2 Enzyme Volume Fee Reports and Payments. For each calendar quarter after the First Commercial Sale of the
first Licensed Product in the Field in Categories B, C, D and/or E, within [*] days after the end of each such calendar quarter, Codexis shall determine and shall deliver to Dyadic a report specifying, on a Category-by-Category basis, (a) the
MTEP of Licensed Product sold in each of Categories B, C, D and/or E, and (b) the amount payable to Dyadic under Section 3.3(c) in accordance with Exhibit G. Any and all payments payable to Dyadic under Section 3.3(c) shall be
due and payable within [*] days after the end of the calendar quarter in which the applicable Licensed Products were sold for purposes of payments under Section 3.3(c). If no payment is due, Codexis shall so report. 
 4.3 Category F Products Reports and Payments. For each calendar quarter after the First Commercial Sale of the first Licensed Product
in the Field in Category F by and for the benefit of a Person (including Codexis) other than the Codexis Exclusive Partner, within [*] days after the end of each such calendar quarter, Codexis shall determine and shall deliver to Dyadic a report
specifying, (a) the metric tons of [*] produced and used in the production of products in Category F, and (b) the amount payable to Dyadic under Section 3.3(d). Any and all payments payable to Dyadic under Section 3.3(d) shall be
due and payable within [*] days after the end of the calendar

  

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quarter in which the applicable [*] were sold for purposes of production of products in Category F. If no payment is due, Codexis shall so report. 
 4.4 Payment Method. All payments due under this Agreement to Dyadic shall be made by bank wire transfer in immediately available
funds to an account designated by Dyadic, and except as otherwise provided for payments due under Section 3.3, within thirty (30) days after receipt by Codexis of a relevant invoice for such payment. All payments hereunder shall be made in
Dollars. 
 4.5 Withholdings Taxes. Any withholding or other tax that is required by Law to be withheld with respect to
payments owed by Codexis pursuant to this Agreement shall be deducted by Codexis from such payment prior to remittance. Codexis shall promptly furnish Dyadic evidence of any such taxes withheld and reasonably assist Dyadic in obtaining applicable
credits with respect thereto. Without limiting the foregoing, Codexis agrees, at Dyadic’s request, to reasonably cooperate with Dyadic in availing itself of the benefit of any tax treaty to minimize such withholding tax with respect to payments
hereunder to the extent permitted under Law. 
 4.6 Inspection of Records. Codexis shall keep, and shall require its
Affiliates and sublicensees to keep, full and accurate books and records setting forth the name and address of each commercial scale facility for which a payment is due under Section 3.3(b) (each, a “Facility”), MTEP of
Licensed Product sold for Categories B, C, D and/or E for which a payment is due under Section 3.3(c), and metric tons of [*] produced for use in production of products in Category F for which a payment is due under Section 3.3(d). Codexis
shall require each of its sublicensees to provide to Codexis full and accurate copies of all books and records setting forth (a) the list of each Facility and/or (b) MTEP of Licensed Product sold by or for the benefit of such sublicensee
in Categories B, C, D and/or E and/or (c) the metric tons of [*] produced for use in production of products in Category F by and for the benefit of such sublicensee; provided that the production of such [*] would result in a payment obligation
to Dyadic pursuant to Section 3.3(d). Codexis shall permit Dyadic, by independent qualified public accountants engaged by Dyadic and reasonably acceptable to Codexis, to examine Codexis’ and its Affiliates’ books and records at any
reasonable time, solely to determine the accuracy of the Facility Fees and/or the MTEP sold and/or the metric tons of [*] produced, but not later than [*] years following the rendering of any corresponding reports, accountings and payments pursuant
to this Article 4. The foregoing right of review may be exercised [*] month period. The independent qualified public accountants engaged by Dyadic shall be under a confidentiality obligation to Codexis to disclose to Dyadic only the amount and
accuracy of payments reported and actually paid or otherwise payable under this Agreement. The opinion of such independent accountants regarding such payments shall be binding on the Parties other than in the case of clear error. Dyadic shall bear
the cost of any such examination and review; provided that if the inspection and audit shows an underpayment of any payment under Section 3.3(b) or Section 3.3(c) or Section 3.3(d) of more than [*] of the amount due for the applicable
period, then Codexis shall promptly reimburse Dyadic for all costs incurred in connection with such examination and review. Codexis shall promptly pay to Dyadic the amount of any underpayment of any payment under Section 3.3(b) and/or
Section 3.3(c) and/or Section 3.3(d) revealed by an examination and review with interest on the underpayment at the rate specified in Section 4.7 from the date such

  

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payment was originally due. Any overpayment of any payment under Section 3.3(b) and/or Section 3.3(c) and/or Section 3.3(d) by Codexis revealed by an examination and review shall
be fully-creditable against future payments under Article 3. Except as otherwise provided in this Section 4.6 above, all matters reviewed by such independent qualified public accountants shall be deemed Confidential Information of Codexis and
subject to the confidentiality obligations of Article 6. 
 4.7 Late Payment. Any payments or portions thereof due
hereunder which are not paid when due shall bear interest equal to the lesser of the rate equal to [*], on the date such payment was due or the maximum rate permitted by Law, calculated on the number of days such payment is delinquent. This
Section 4.7 shall in no way limit any other remedies available to either Party. 
 ARTICLE 5 
 INTELLECTUAL PROPERTY 
 5.1 Prosecution of Licensed Patents. Dyadic shall, at Dyadic’s sole cost and expense, [*], file for, prosecute, respond to oppositions, nullity actions, re-examinations, revocation actions and
similar proceedings (including without limitation conducting or participating in interference and oppositions) filed by Third Parties against, and maintain the patents and patent applications within the Licensed Patents that are owned or otherwise
controlled by Dyadic; provided that, in the event that Dyadic decides to cease activities relating to obtaining and maintaining any patent application or patent within the Licensed Patents that is owned or otherwise controlled by Dyadic, Dyadic
shall provide written notice thereof to Codexis and, prior to taking action that would result in the abandonment of any such patent application or patent, Dyadic shall engage in good faith discussion with Codexis, such discussion to occur at least
[*] days prior to the date when government rights would be lost as a consequence of abandonment of such patent application or patent. 
 5.2 Enforcement of Licensed Patents. In the event that Codexis reasonably believes that any Licensed Patent is being infringed by a Third Party, Codexis shall promptly notify Dyadic and provide Dyadic with evidence thereof. As
between the Parties, Dyadic shall have the sole right to enforce such Licensed Patents with respect to such infringement, or to defend any declaratory judgment action with respect thereto, at Dyadic’s expense. 
 5.3 Cooperation. Codexis agrees to cooperate with Dyadic as reasonably requested by Dyadic, at Dyadic’s expense, in connection
with the activities undertaken pursuant to this Article 5. 
 ARTICLE 6 
 CONFIDENTIALITY 
 6.1 Confidentiality Obligations. Each Party agrees that, during the term of this Agreement and for [*] years thereafter, all Confidential Information of the other Party shall be maintained in strict confidence, and shall not be used
for any purpose other than the purposes expressly permitted by this Agreement, and shall not be disclosed to any Third Party. The foregoing

  

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obligations will not apply to any portion of Confidential Information to the extent that it can be established by competent proof that such portion: 
 (a) was already known to the recipient as evidenced by its written records, other than under an obligation of confidentiality, at the
time of disclosure; 
 (b) was generally available to the public or was otherwise part of the public domain at the time
of its disclosure to the recipient; 
 (c) became generally available to the public or otherwise becomes part of the
public domain after its disclosure and other than through any act or omission of the recipient in breach of this Agreement; or 
 (d) was subsequently lawfully disclosed to the recipient by a Third Party other than in contravention of a confidentiality obligation of such Third Party to the disclosing party. 
 6.2 Permitted Usage. Each Party may use and disclose Confidential Information of the other Party as follows: (a) under
appropriate confidentiality provisions no less restrictive than those in this Agreement, in connection with the performance of its obligations or exercise of rights granted to or retained by such Party in this Agreement; (b) in connection with
the filing for, prosecution, maintenance and enforcement of the Licensed Patents in accordance with this Agreement; (c) in connection with complying with the terms of agreements with Third Parties, prosecuting or defending litigation, complying
with applicable governmental regulations, filing for, obtaining and maintaining regulatory approvals, or otherwise required by Law; provided, however, that if a Party is required by Law to make any disclosure of the other Party’s Confidential
Information it will give reasonable advance notice to the other Party of such disclosure requirement and will use its reasonable efforts to secure confidential treatment of such Confidential Information required to be disclosed; (d) in
communication with potential or actual collaborators, partners, or licensees (including without limitation potential sublicensees), who prior to such disclosure have agreed in writing to be bound by obligations of confidentiality and non-use no less
restrictive than the obligations set forth in this Article 6; (e) in confidence to potential or actual investment bankers, advisors (including without limitation financial advisors and accountants), investors, lenders, acquirers, merger
partners, or other potential financial or strategic partners, and their attorneys and agents) on a need to know basis; provided, however, that the receiving Party shall remain responsible for any failure by any Person who receives Confidential
Information pursuant to this Section 6.2 to treat such Confidential Information as required under this Article 6; and/or (f) to the extent mutually agreed to by the Parties in a prior writing. 
 6.3 Confidential Terms. Each of the Parties agrees not to disclose to any Third Party the terms and conditions of this
Agreement without the prior approval of the other Party. Notwithstanding the foregoing, a Party may disclose the terms of this Agreement in confidence to its Affiliates in connection with the performance of this Agreement and solely on a
need-to-know basis; to potential or actual collaborators, partners, or licensees (including without limitation potential

  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 18 

 
sublicensees), who prior to disclosure must agree to be bound by obligations of confidentiality and non-use no less restrictive than the obligations set forth in this Article 6; and/or in
confidence to potential or actual investment bankers, advisors (including without limitation financial advisors and accountants), investors, lenders, acquirers, merger partners, or other potential financial or strategic partners, and their attorneys
and agents) on a need to know basis; provided, however, that the receiving Party shall remain responsible for any failure by any Person who receives Confidential Information pursuant to this Section 6.3 to treat such Confidential Information as
required under this Article 6. 
 6.4 Exceptions for Applicable Law or Regulation. Notwithstanding anything to the
contrary in this Article 6, a Party may disclose any Confidential Information of the other Party or the terms of this Agreement that is required to be disclosed under Law; provided that, except where impracticable, such Party shall give the other
Party reasonable advance notice of such disclosure requirement (which shall include a copy of any applicable subpoena or order) and shall afford the other Party a reasonable opportunity to oppose, limit or secure confidential treatment for such
required disclosure. In the event of any such required disclosure, a Party shall disclose only that portion of the Confidential Information of the other Party that is required by Law to be disclosed and, in the event a protective order is obtained
by the other Party, nothing in this Article 6 shall be construed to authorize the Party that is subject to the disclosure requirement to use or disclose any Confidential Information of the other Party to any Person other than as required by Law or
beyond the scope of the protective order. A Party may disclose this Agreement if required to be disclosed by Law to the extent, and only to the extent, such Law require such disclosure and, in such an event, such Party provides the other Party a
reasonable opportunity to review and comment on the general text of such disclosure, which comments shall be incorporated by the disclosing Party if reasonable under the circumstances. 
 6.5 Codexis Confidential Information. Dyadic has requested that (a) all Codexis Confidential Information, including without
limitation any and all information provided by Codexis to Dyadic pursuant to Section 2.1(c), Section 4.1, Section 4.2, Section 4.3 and/or Section 4.6, be delivered by Codexis to Dyadic’s Chief Executive Officer, outside
counsel as indicated in Section 11.6, or, with respect to financial reports and payments as specified in Section 4.1, Section 4.2, Section 4.3 and/or Section 4.6, to Dyadic’s internal accounting staff, and to no other
employee, representative or agent of Dyadic, and (b) any information delivered by Codexis to any employee, representative or agent of Dyadic, other than (i) as set forth in subsection (a) of this Section 6.5 or (ii) in
response to a request for such information by any employee, representative or agent of Dyadic, be deemed to be non-confidential information for purposes of this Article 6 and this Agreement (collectively, the “Dyadic Request”).
Notwithstanding anything to the contrary, exchange of technical information in connection with the delivery of the Dyadic Material and the technology transfer as contemplated by Section 2.6 shall be deemed to be Confidential Information of the
providing Party. 
 6.6 Public Announcements. Except to the extent required by Law, neither Party shall make any public
announcements concerning this Agreement or the terms hereof without the prior

  

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 19 

 
written consent of the other Party; provided that, upon the Effective Date, the Parties will issue a joint press release announcing this Agreement and the relationship of the Parties. Such press
release will be in the form attached hereto as Exhibit H. Thereafter, each Party may disclose to Third Parties the information contained in such press release without the need for further approval by the other Party. 
 ARTICLE 7 
 INDEMNIFICATION 
 7.1 Indemnification by Codexis. Codexis shall indemnify, defend and hold Dyadic and
its Affiliates, agents, employees, officers, and directors (the “Dyadic Indemnitees”) harmless from and against any and all liability, damage, loss, cost, or expense (including without limitation reasonable attorneys’ fees)
arising out of Third Party claims or suits related to: (a) breach by Codexis of any of its representations, warranties, or covenants under this Agreement; (b) the negligence or willful misconduct of Codexis or its Affiliates, and its or
their directors, officers, agents, employees, or consultants; and (c) any exploitation by, or under the authority of, Codexis of the licenses granted under Section 2.1 (including by any Affiliate or sublicensee); provided, however, that
Codexis’ obligations pursuant to this Section 7.1 will not apply to the extent such claims or suits result from (i) any claim or suit by a Third Party that use or exploitation of the Dyadic Materials as delivered to Codexis infringe
intellectual property rights of such Third Party except with respect to any such claim or suit that is a consequence of actions by Codexis to modify or derivatize such Dyadic Materials, the combination of such Dyadic Materials with other materials
or (ii) the negligence or willful misconduct of any of the Dyadic Indemnitees or breach by Dyadic of its representations, warranties, or covenants set forth in this Agreement, or to the extent that Dyadic has indemnification obligations with
respect to such claims or suits under Section 7.2. 
 7.2 Indemnification by Dyadic. Dyadic shall indemnify, defend,
and hold Codexis and its Affiliates, sublicensees, agents, employees, officers, and directors (the “Codexis Indemnitees”) harmless from and against any and all liability, damage, loss, cost, or expense (including without limitation
reasonable attorneys’ fees) arising out of Third Party claims or suits related to: (a) breach by Dyadic of any of its representations, warranties, or covenants under this Agreement; and (b) the negligence or willful misconduct of
Dyadic or its Affiliates, and its or their directors, officers, agents, employees, or consultants; provided, however, that Dyadic’s obligations pursuant to this Section 7.2 will not apply to the extent such claims or suits result from the
negligence or willful misconduct of any of the Codexis Indemnitees or breach by Codexis of its representations, warranties, or covenants set forth in this Agreement, or to the extent that Codexis has indemnification obligations with respect to such
claims or suits under Section 7.1. 
 7.3 Procedure. As a condition to a Party’s right to receive
indemnification under Section 7.1, Section 7.2 or Section 2.7(c), it shall: (a) promptly deliver notice in writing (a “Claim Notice”) to the other Party as soon as it becomes aware of a claim or suit for which
indemnification may be sought pursuant to Section 7.1, Section 7.2 or Section 2.7(c) (provided that the failure to give a Claim Notice promptly shall not prejudice the rights of an indemnified Party except to the extent that

  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 20 

 
the failure to give prompt notice materially adversely affects the ability of the indemnifying Party to defend the claim or suit); (b) cooperate with the indemnifying Party in the defense of
such claim or suit, at the expense of the indemnifying Party; and (c) if the indemnifying Party confirms in writing to the indemnified Party its intention to defend such claim or suit within [*] days after receipt of the Claim Notice, permit
the indemnifying Party to control the defense of such claim or suit, including without limitation the right to select defense counsel; provided that, if the indemnifying Party fails to (i) provide such confirmation in writing within such [*]
day period or (ii) after providing such confirmation, diligently and reasonably defend such suit or claim at any time, the indemnifying Party’s right to defend the claim or suit shall terminate immediately in the case of (i) and
otherwise upon [*] days’ written notice by the indemnified Party to the indemnifying Party, and the indemnified Party may assume the defense of such claim or suit at the sole expense of the indemnifying Party but may not settle or compromise
such claim or suit without the consent of the indemnifying Party, not to be unreasonably withheld or delayed. In no event, however, may the indemnifying Party compromise or settle any claim or suit in a manner which admits fault or negligence on the
part of any indemnified Party or that otherwise materially affects such indemnified Party’s rights under this Agreement or requires any payment by an indemnified Party without the prior written consent of such indemnified Party. Except as
expressly provided above, the indemnifying Party will have no liability under this Article 7 or Article 2 with respect to claims or suits settled or compromised without its prior written consent. 
 ARTICLE 8 
 REPRESENTATIONS, WARRANTIES, AND COVENANTS 
 8.1 General. Each Party represents and warrants to the
other that: (a) it is duly organized and validly existing under the Law of the jurisdiction of its incorporation, and has full corporate power and authority to enter into this Agreement and to carry out the provisions hereof; (b) it is
qualified to do business and is in good standing in each jurisdiction in which it conducts business; (c) duly authorized to execute and deliver this Agreement and to perform its obligations hereunder, and the person executing this Agreement on
its behalf has been duly authorized to do so by all requisite corporate action; (d) this Agreement is legally binding upon it and enforceable in accordance with its terms and the execution, delivery and performance of this Agreement by it does
not conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound, nor violate any material Law; and (e) it is not aware of any action, suit or inquiry or investigation instituted
by any Person which questions or threatens the validity of this Agreement. 
 8.2 Dyadic Representations, Warranties and
Covenants. 
 (a) Dyadic represents and warrants that, as of the Effective Date, except as set forth on Schedule
8.2(a), (i) the Patents set forth on Exhibit C are a complete list of all Patents that claim or disclose Dyadic’s C1 expression system, the C1 high-throughput screening system and/or C1-derived enzymes that are necessary or useful
in the [*]; (ii) Dyadic is the owner of each, and no Person has any valid claim of ownership with respect to any, of the Patents listed on Exhibit C and

  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 21 

 
of the Dyadic Materials; (iii) to the knowledge of Dyadic, the Dyadic Materials [*]; (iv) Dyadic has the right and authority to enter into this Agreement and to grant the rights and
licenses granted to Codexis herein; (v) Dyadic is in compliance with Law applicable to the transfer of biological materials, including without limitation guidelines and recommendations with respect to biodiversity, and has obtained any and all
authorizations, licenses and/or permits required for transfer by Dyadic of the Dyadic Materials to Codexis, except in each as would not be reasonably expected to have a material adverse effect on Codexis’ ability to the practice the rights
granted to Codexis pursuant to Section 2.1(a) and Section 2.1(b); (vi) the Licensed IP and the Dyadic Materials are free and clear of any and all liens and/or encumbrances; (vii) Dyadic has not granted any right, license or
interest in the Licensed IP, or any portion thereof, inconsistent with the rights and licenses granted to Codexis herein; (viii) there are no Third Party actions, claims or demands, and, to Dyadic’s knowledge, (A) there are no
threatened or pending Third Party actions, claims or demands and (B) there is no reasonable basis to support any Third Party action, claim or demand, relating either to the Licensed IP or the right of Dyadic to grant to Codexis the rights and
licenses granted herein; (ix) Dyadic does not own or otherwise control any Patent, other than those set forth on Exhibit C that claim (A) any composition of matter or formulation thereof (including any manufacture, offer for sale,
sale, importation or use of such composition or formulation) or (B) any use in the Field, that would, in each of (A) and/or (B), be necessary or reasonably useful in the practice of the rights granted to Codexis pursuant to
Section 2.1(a) and Section 2.1(b); (x) the Dyadic Materials delivered to Codexis pursuant to Section 2.6 include the tangible materials that are currently being used for the benefit of Dyadic at Dyadic, [*] and Dyadic’s
Affiliate in The Netherlands for similar purposes as those contemplated hereunder and, to Dyadic’s knowledge, it is not in possession of any other such materials that would be necessary for the practice of the rights granted to Codexis pursuant
to Section 2.1(a) and Section 2.1(b), other than any such materials for which Dyadic has contractual obligations as of the Effective Date that would preclude such delivery to Codexis; (xi) Dyadic has not granted a license right to any
Third Party to practice the Licensed IP, to use the Dyadic Materials, or to practice or to use any component of the foregoing that would result in any Improvement made by, for the benefit of or under the authority of, such Third Party to be exempt
from the covenant granted by Dyadic to Codexis in Section 2.7(a); (xii) to Dyadic’s knowledge, the Dyadic Materials are not [*]; (xiii) [*] to be delivered to Codexis as part of the Dyadic Materials [*]; (xiv) the
certificate of secretary for Dyadic International (USA), Inc. attached hereto as Exhibit I is true, accurate and correct; (xv) the certificate of secretary for Dyadic International, Inc. attached hereto as Exhibit J is true,
accurate and correct; and (xvi) [*] strain provided to Codexis [*]. For clarity, Codexis acknowledges that Dyadic [*] to Dyadic other than the [*] and that [*]. 
 (b) Dyadic covenants that (i) Dyadic will not, during the Term, undertake any obligation, or grant any right, license, interest or lien, that conflicts with its obligations, or the rights and
licenses granted to Codexis, under the terms of this Agreement, or impairs the rights granted by Dyadic to Codexis under the terms of this Agreement; (ii) Dyadic will, as soon as practicable, deliver to Codexis [*]. 
 8.3 Codexis Covenants. Codexis covenants that: 
  

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 (a) Codexis and its Affiliates will not (i) solicit or initiate any inquiry,
proposal or offer from, or provide any information specific to the Licensed IP to, or conduct any research using the Licensed IP for the benefit of, any Third Party set forth on Schedule 8.3(a) regarding any sublicense in Category F prior to [*]
months after the Effective Date, and (ii) grant a sublicense to any Third Party in Category F, other than Codexis Exclusive Partner, prior to [*] months after the Effective Date; and 
 (b) if all actions set forth in Schedule 8.2(b) have not been completed by Dyadic within [*] days after receipt of the Dyadic
Materials by Codexis, as evidenced by delivery to Codexis of an executed certificate and supporting materials and documentation, as further described in subsection (ii) of Section 8.2(b), Codexis will enter into the Escrow Agreement with
Dyadic. 
 8.4 Disclaimer. EXCEPT AS PROVIDED IN THIS ARTICLE 8, NEITHER PARTY MAKES ANY REPRESENTATION OR WARRANTY
(EXPRESS, IMPLIED, STATUTORY OR OTHERWISE) WITH RESPECT TO THE SUBJECT MATTER OF THIS AGREEMENT, INCLUDING WITHOUT LIMITATION WITH RESPECT TO THE DYADIC MATERIALS OR ANY DERIVATIVE OR MODIFICATION OF THE DYADIC MATERIALS, AND EACH PARTY SPECIFICALLY
DISCLAIMS ANY AND ALL IMPLIED WARRANTIES OR CONDITIONS OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, AND ALL WARRANTIES AND CONDITIONS OF THE VALIDITY OF THE LICENSED PATENTS OR NONINFRINGEMENT OF THIRD PARTY INTELLECTUAL PROPERTY RIGHTS.
THIS SECTION 8.4 SHALL NOT BE CONSTRUED TO LIMIT EITHER PARTY’S OBLIGATIONS UNDER ARTICLE 7. 
 ARTICLE 9

 LIMITATION OF LIABILITY 
 9.1 EXCEPT FOR ANY LIABILITY THAT IS THE CONSEQUENCE OF WILLFUL MISCONDUCT OF A PARTY, OR A BREACH OF ARTICLE 6, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR ANY SPECIAL,
CONSEQUENTIAL, EXEMPLARY OR INCIDENTAL DAMAGES (INCLUDING LOST OR ANTICIPATED REVENUES OR PROFITS RELATING TO THE SAME), HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY ARISING OUT OF THIS AGREEMENT, WHETHER SUCH CLAIM IS BASED ON CONTRACT, TORT
(INCLUDING NEGLIGENCE) OR OTHERWISE, AND WHETHER OR NOT SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. THESE LIMITATIONS SHALL APPLY NOTWITHSTANDING ANY FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED REMEDY PROVIDED HEREIN. THIS ARTICLE
9 SHALL NOT BE CONSTRUED TO LIMIT EITHER PARTY’S OBLIGATIONS UNDER ARTICLE 7. 
  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 23 

 ARTICLE 10 
 TERM AND TERMINATION 
 10.1 Term. Unless
terminated earlier pursuant to Section 10.2, the term of this Agreement shall commence on the Effective Date and continue in full force and effect for as long as Codexis has an obligation to pay Dyadic any of the amounts set forth under Article
3 (the “Term”). 
 10.2 Termination. 
 (a) For Convenience. Any provision herein notwithstanding, Codexis shall have the right to terminate this Agreement at will at any
time after making the payments set forth in Section 3.1, by giving Dyadic [*] days’ written notice referencing this Section 10.2(a). 
 (b) For Material Breach. If either Party shall at any time breach any material term, condition or agreement herein, and shall fail to have initiated and actively pursued remedy of any such default
or breach within [*] days after receipt of written notice thereof, or [*] days with respect to any breach of a payment obligation, by the other Party, that other Party may, at its option, terminate this Agreement and revoke any rights and licenses
herein. Any termination of the Agreement under this Section 10.2(b) shall not, however, prejudice the right of the Party who terminates this Agreement to recover any milestone payment or other sums due at the time of such cancellation, and it
being understood that if within [*] days, or [*] days with respect to any breach of a payment obligation, after receipt of any such notice the breaching Party shall have initiated and actively pursued remedy of its default, then the rights and
licenses herein granted shall remain in force as if no breach or default had occurred on the part of the breaching Party, unless such breach or default is not in fact remedied within [*] days, or [*] days with respect to any breach of a payment
obligation, of such notice. 
 (c) Termination due to Challenge of Patent. To the extent permitted by Law, the
licenses granted by Dyadic to Codexis under this Agreement may, at Dyadic’s option, be terminated as to any country by Dyadic in the event that Codexis challenges the validity of a Dyadic Patent in such country. 
 (d) Termination due to Failure to meet Performance Criteria. This Agreement shall terminate automatically, without any requirement of
further action by either Party, upon confirmation, in accordance with Section 3.1, that the Dyadic Materials did not meet the performance criteria. In the event of termination of this Agreement in accordance with this Section 10.2(d),
Dyadic shall reimburse Codexis in full for each payment made by Codexis under Section 3.1(a) and Section 3.1(b), as applicable, plus interest at the rate specified in Section 4.7 as of the date such payment was originally made to
Dyadic and, in addition, all fees held in escrow as a consequence of the payment made by Codexis under Section 3.1(c) shall be released to Codexis pursuant to the terms of the Escrow Agreement. 
 10.3 Effect of Termination/Expiration. 
  

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 (a) Rights and Obligations Upon Expiration. Upon expiration (but not earlier
termination) of this Agreement, all rights and licenses granted by either Party to the other Party hereunder that were in effect immediately prior to the effective date of such expiration shall become irrevocable, perpetual and fully-paid.

 (b) Rights and Obligations Upon Termination. As of the effective date of a termination (but not expiration) of this
Agreement for any reason: (i) Section 2.1 shall terminate and all rights in the Licensed IP shall revert to Dyadic, except as provided in Section 10.3(c); (ii) Dyadic shall have the right to retain all amounts correctly paid
hereunder; provided that, in the event of termination of this Agreement pursuant to Section 10.2(d), nothing in this Section 10.3(a) shall limit Dyadic’s obligation to reimburse Codexis in full for each of the payments made by Codexis
under Section 3.1 plus interest at the rate specified in Section 4.7 as of the date such payments were originally made to Dyadic; (iii) each Party shall return to the other Party any materials (including, without limitation, the
Dyadic Materials), and any and all improvements, derivatives or modifications thereof provided to it by such Party pursuant to this Agreement, except as provided in Section 10.3(c); and (iv) each Party shall return to the other Party and
cease using all Confidential Information of the other, except as provided in Section 10.3(c); provided that counsel of each Party may retain one (1) copy of such Confidential Information for ensuring compliance with Article 6. 

(c) Termination by Codexis for Material Breach; Retained Licensed Products. As of the effective date of a termination by Codexis
pursuant to Section 10.2(b) for a material breach by Dyadic, all terms and conditions of this Agreement including the rights and licenses granted by Dyadic to Codexis hereunder that were in effect immediately prior to the effective date of such
termination shall survive; provided that any and all payments due by Codexis to Dyadic under Article 3 as of the effective date of such termination shall be reduced by [*]; and provided further that, in the event of such a termination by Codexis due
to a breach by Dyadic of its obligations under Section 2.7(a), Codexis shall have no further payment obligations to Dyadic under Article 3. 
 (d) Covenant [*]. The provisions of Section 2.7 shall survive expiration of this Agreement, but shall not survive earlier termination except as expressly provided in this
Section 10.3(d). In the event of a termination of this Agreement by Codexis pursuant to Section 10.2(c), the provisions of Section 2.7(a), and Section 2.7(c) (but only as applicable to Section 2.7(a)), shall survive. In the
event of a termination of this Agreement (i) by Codexis for convenience pursuant to Section 10.2(a) or (ii) by Dyadic for Codexis’ breach pursuant to Section 10.2(b), the provisions of Section 2.7(b), and
Section 2.7(c) (but only as applicable to Section 2.7(b)), shall survive. 
 (e) Accrued Rights. Termination or
expiration of this Agreement for any reason will be without prejudice to any rights that will have accrued to the benefit of a Party prior to such termination or expiration. Such termination or expiration will not relieve a Party from accrued
payment obligations or from obligations which are expressly indicated to survive termination or expiration of this Agreement. 
  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 25 

 (f) Survival. Articles 1, 6 (for the period set forth in Section 6.1), 7, 9 and
11, and Sections 2.8, 4.6, 8.4, and 10.3 (as applicable), shall survive the expiration and any termination of this Agreement. Except as otherwise provided in this Section 10.3, all other provisions of this Agreement shall terminate upon the
expiration or termination of this Agreement. 
 ARTICLE 11 
 GENERAL PROVISIONS 
 11.1 Entire Agreement
of the Parties; Amendments. This Agreement constitutes and contains the entire understanding and agreement of the Parties respecting the subject matter hereof and cancels and supersedes any and all prior and contemporaneous negotiations,
correspondence, understandings, and agreements between the Parties, whether oral or written, regarding such subject matter. No waiver, modification, amendment or alteration of any provision of this Agreement will be valid or effective unless made in
writing and signed by each of the Parties; provided that any waiver, modification, amendment or alteration of Section 6.5 or Section 11.6 shall be valid and effective only by the procedure set forth in such Section 6.5 and/or
Section 11.6, as applicable. 
 11.2 Further Actions. Each Party agrees to execute, acknowledge, and deliver such
further instruments and to do all such other acts as may be necessary or appropriate in order to carry out the express provisions of this Agreement. 
 11.3 Assignments. Neither this Agreement nor any interest hereunder may be assigned, nor any other obligation delegated, by a Party without the prior written consent of the other Party; provided,
however, that a Party shall have the right to assign this Agreement without consent of the other Party to an Affiliate of the assigning Party or to any successor in interest to the assigning Party by operation of law, merger, consolidation, or other
business reorganization or the sale of all or substantially all of its assets relating to the subject matter of this Agreement in a manner such that the assigning Party will remain liable and responsible for the performance and observance of all of
its duties and obligations hereunder. This Agreement shall be binding upon successors and permitted assigns of the Parties. Any assignment not in accordance with this Section 11.3 will be null and void. 
 11.4 Performance by Affiliates. The Parties recognize that each may perform some or all of its obligations under this Agreement
through Affiliates or may exercise some or all of its rights under this Agreement through Affiliates, provided, however, that each Party shall remain responsible and be guarantor of the performance by its Affiliates and shall cause its Affiliates to
comply with the provisions of this Agreement in connection with such performance. In particular and without limitation, (i) all Affiliates of a Party that receive Confidential Information of the other Party pursuant to this Agreement shall be
governed and bound by all obligations set forth in Article 6, and (ii) all Affiliates of Codexis that have access to the Dyadic Materials or any derivative or modification thereof shall be governed and bound by all obligations set forth in
Section 2.5 and Article 6. Each Party will prohibit all of its Affiliates from taking any action that such Party is prohibited from taking under this Agreement as if such Affiliates were parties to this Agreement. 
  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
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 11.5 Relationship of the Parties. The Parties shall perform their obligations under
this Agreement as independent contractors and nothing in this Agreement is intended or will be deemed to constitute a partnership, agency or employer-employee relationship between the Parties. Neither Party will have any right, power or authority to
assume, create, or incur any expense, liability, or obligation, express or implied, on behalf of the other. 
 11.6
Notices. Any notice, request, delivery, approval or consent required or permitted to be given under this Agreement will be in writing and will be deemed to have been sufficiently given if delivered in person, transmitted by facsimile (receipt
verified) or by express courier service (signature required) or five (5) days after it was sent by registered letter, return receipt requested (or its equivalent); provided that no postal strike or other disruption is then in effect or comes
into effect within two (2) days after such mailing, to the Party to which it is directed at its address or facsimile number shown below or such other address or facsimile number as such Party will have last given by notice to the other Party.

  

			
	If to Codexis:	  	Codexis, Inc.
		  	200 Penobscot Drive
		  	Redwood City, CA 94063
		  	Attention: General Manager, Bioindustrials
		  	Fax: [*]

  

			
	 With a copy to:
	  	Codexis, Inc.
		  	200 Penobscot Drive
		  	Redwood City, CA 94063
		  	Attention: General Counsel
		  	Fax: [*]

  

			
	If to Dyadic:	  	Dyadic International (USA), Inc.
		  	140 Intracoastal Pointe Drive, Suite 404
		  	Jupiter, FL 33477-5094
		  	Attention: Mark A. Emalfarb
		  	Fax: [*]

  

			
	 With a copy to:
	  	Robert Levin
		  	Levin & Ginsburg
		  	180 North LaSalle Street, Suite 3200
		  	Chicago, IL 60601
		  	Fax: [*]

 11.7 Compliance with Law.
Each Party shall comply with all Law in connection with its activities pursuant to this Agreement. 
  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
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 11.8 Governing Law; Dispute Resolution. The rights and obligations of the Parties
under this Agreement shall be governed, and shall be interpreted, construed, and enforced, in all respects by the Law of the State of New York, as permitted by Section 5-1401 of the New York General Obligations Law (or similar successor
provision), without giving effect to any conflict of Law rule that would result in the application of the Law of any jurisdiction other than the internal Law of the State of New York to the rights and duties of the Parties. All actions and
proceedings arising out of or relating to this Agreement shall be heard and determined in any New York State or federal court sitting in New York City, New York County, New York, and the Parties hereby irrevocably submit to the jurisdiction of such
courts in any such action or proceeding and irrevocably waive any defense of an inconvenient forum to the maintenance of any such action or proceeding. 
 11.9 Rights in Bankruptcy. The Parties acknowledge and agree that this Agreement constitutes a license of rights to “intellectual property” as that term is defined in
Section 101(35A) of Title 11, United States Code (the “Bankruptcy Code”) and is therefore governed by Section 365(n) of the Bankruptcy Code. The Parties shall retain and may fully exercise all of their respective rights
and elections under the Bankruptcy Code. Notwithstanding anything to the contrary, if a Chapter 11 petition is filed by or against Dyadic, Dyadic shall seek approval of the bankruptcy court to assume this Agreement pursuant to 11 U.S.C. § 363.

 11.10 Captions. The captions to this Agreement are for convenience only, and are to be of no force or effect in
construing or interpreting any of the provisions of this Agreement. 
 11.11 Waiver. A waiver by a Party of any of the
terms and conditions of this Agreement in any instance will not be deemed or construed to be a waiver of such term or condition for the future, or of any subsequent breach hereof. All rights, remedies, undertakings, obligations, and agreements
contained in this Agreement will be cumulative and none of them will be in limitation of any other remedy, right, undertaking, obligation, or agreement of either Party. 
 11.12 Severability. When possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under Law, but, if any provision of this Agreement is held to be
prohibited by or invalid under Law, such provision will be ineffective but only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or of this Agreement. The Parties will make a good faith effort to
replace the invalid or unenforceable provision with a valid one which in its economic effect is most consistent with the invalid or unenforceable provision 
 11.13 Counterparts. This Agreement may be executed simultaneously in counterparts, any one of which need not contain the signature of more than one Person but all such counterparts taken together
will constitute one and the same agreement. 
 [Signature Page Follows] 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 28 

 IN WITNESS WHEREOF, the Parties have executed this Agreement in duplicate originals by their
duly authorized representatives as of the Effective Date. 
  

									
	CODEXIS, INC.	 		 	DYADIC INTERNATIONAL (USA), INC.
	(“Codexis”)	 		 	(“Dyadic”)
					
	By:	 	 /s/ Alan Shaw
	 		 	By:	 	 /s/ Mark A. Emalfarb

	Name:	 	 Alan Shaw
	 		 	Name:	 	 Mark A. Emalfarb

	Title:	 	 President and CEO
	 		 	Title:	 	 CEO

				
		 		 		 	DYADIC INTERNATIONAL, INC.
		 		 		 	(“Dyadic”)
					
		 		 		 	By:	 	 /s/ Mark A. Emalfarb

		 		 		 	Name:	 	 Mark A. Emalfarb

		 		 		 	Title:	 	 CEO

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT A 
 FIELD 
 The Field shall consist of the following Categories:

 Category A, [*]. 
 Category B, [*]. 
 Category C, [*] 
 Category D, [*]. 
 Category E, [*]. 
 Category F, [*]. 
 The Field shall not include [*] and (vi) any other use not set forth in Categories A through F. For purposes of this Exhibit A, the term [*] means [*]. 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT B 
 FIRST COMMERCIAL SALE 
 The First Commercial Sale, on a
Category-by-Category basis, shall be: 
 Category A [*]: The first sale of one thousand kilograms (1,000 kg) or
more of formulated enzyme product for use in a commercial or pre-commercial facility. 
 Category B, [*]: The
first sale of [*]. 
 Category C, [*]: The first sale of [*]. 
 Category D, [*]: The first sale of [*]. 
 Category E, [*]: The first sale of [*]. 
 Category F,
[*]: The first sale of [*]. 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT C 
 LICENSED PATENTS 
  

															
	  	  	 Title
	  	 Country
	  	 Status
	  	 Application No.
	  	 App. Date
	  	 Patent No.
	  	 Issue Date

	[*]	  		  		  		  		  		  		  	
								
	1.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	2.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	3.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	4.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	[*]	  		  		  		  		  		  		  	
								
	5.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	6.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	[*]	  		  		  		  		  		  		  	
								
	7.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	[*]	  		  		  		  		  		  		  	

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

															
	  	  	 Title
	  	 Country
	  	 Status
	  	 Application No.
	  	 App. Date
	  	 Patent No.
	  	 Issue Date

	8.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	9.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	[*]	  		  		  		  		  		  		  	
								
	10.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	11.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	12.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	13.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	14.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	15.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	16.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	17.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	18.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

															
	  	  	 Title
	  	 Country
	  	 Status
	  	 Application No.
	  	 App. Date
	  	 Patent No.
	  	 Issue Date

	19.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	20.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	21.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	22.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	23.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	24.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	
	[*]
								
	25.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	26.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	27.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	28.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	29.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	30.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	31.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

															
	  	  	 Title
	  	 Country
	  	 Status
	  	 Application No.
	  	 App. Date
	  	 Patent No.
	  	 Issue Date

	32.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	33.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	34.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	35.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	36.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	37.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	38.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	39.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	40.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	41.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	42.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	43.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	44.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	45.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

															
	  	  	 Title
	  	 Country
	  	 Status
	  	 Application No.
	  	 App. Date
	  	 Patent No.
	  	 Issue Date

	46.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	47.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	48.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	49.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	50.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	51.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	52.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	[*]	  		  		  		  		  		  		  	
								
	53.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	54.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	55.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	56.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	57.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	58.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

															
	  	  	 Title
	  	 Country
	  	 Status
	  	 Application No.
	  	 App. Date
	  	 Patent No.
	  	 Issue Date

	59.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	60.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	61.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	62.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	63.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	64.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	65.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	66.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	67.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	68.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	69.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	70.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	71.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	[*]	  		  		  		  		  		  		  	

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

															
	  	  	 Title
	  	 Country
	  	 Status
	  	 Application No.
	  	 App. Date
	  	 Patent No.
	  	 Issue Date

	72.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	73.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	74.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	75.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	76.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	77.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	78.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	79.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	80.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	81.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	82.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

															
	  	  	 Title
	  	 Country
	  	 Status
	  	 Application No.
	  	 App. Date
	  	 Patent No.
	  	 Issue Date

	83.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	84.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	85.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	86.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	87.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	88.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	89.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	90.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	91.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	92.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

															
	  	  	 Title
	  	 Country
	  	 Status
	  	 Application No.
	  	 App. Date
	  	 Patent No.
	  	 Issue Date

	93.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	94.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	95.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	96.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	97.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	98.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	99.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	100.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	101.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	102.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

															
	  	  	 Title
	  	 Country
	  	 Status
	  	 Application No.
	  	 App. Date
	  	 Patent No.
	  	 Issue Date

	103.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	104.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	105.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
								
	106.	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT D 
 MATERIALS 
 [*] 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT E 
 MATERIALS PERFORMANCE CRITERIA 
 Milestone 1.

  

			
	 Item
	  	 Duration

	 [*]
	  	[*]
		
	 [*]
	  	[*]
		
	 [*]
	  	[*]
		
	 [*]
	  	[*]
		  	 
	 Total
	  	[*]
		  	 

 [*] 
 Deliverable [*]: 
 [*]. 
 Milestone 2. [*]  
 Transformation: 
  

			
	 Item
	  	 Duration

	 [*]
	  	[*]
		
	 [*]
	  	[*]
		
	 [*]
	  	[*]
		
	 [*]
	  	[*]
		
	 [*]
	  	[*]
		
	 [*]
	  	[*]
		
	 [*]
	  	[*]

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

			
	 [*]
	  	[*]
		
	 [*]
	  	[*]
		
	 [*]
	  	[*]

 Deliverable [*]:

 [*]. 
 Milestone 3. [*]  
  

			
	 Item
	  	 Duration

	 [*]
	  	[*]
		
	 [*]
	  	[*]
		
	 [*]
	  	[*]

 Deliverable
[*]: 
 [*] 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT F 
 FIRST COMMERCIAL SALE MILESTONE PAYMENTS 
  

			
	 Category
	  	 Amount

		
	A	  	[*]
		
	B	  	[*]
		
	C	  	[*]
		
	D	  	[*]
		
	E	  	[*]
		
	F	  	[*]

  

	*	Payable only after the First Commercial Sale of a Licensed Product in Category F by and for the benefit of a Person (including Codexis) other than the Codexis Exclusive
Partner, as described in Section 3.3(a)(ii). 

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT G 
 ENZYME VOLUME FEE MILESTONE PAYMENTS 
 For the commercial sales
of enzymes for use in the Field in Categories B, C, D and/or E, Codexis shall pay Dyadic an enzyme volume fee milestone pursuant to Section 3.3(c) based on the cumulative volume of all such enzyme(s) in a particular Category that have been sold
by Codexis, its Affiliates or its sublicensees during the [*] years after the First Commercial Sale of the first Licensed Product in such particular Category as measured in MTEP, as follows: 
  

									
	  	  	 MTEP
	  	$ per MTEP	  	Full Segment
Payment	  	Cumulative Segment
Payment
	 Segment 1
	  	[*]	  	[*]	  	[*]	  	[*]
					
	 Segment 2
	  	[*]	  	[*]	  	[*]	  	[*]
					
	 Segment 3
	  	[*]	  	[*]	  	[*]	  	[*]
					
	 Segment 4
	  	[*]	  	[*]	  	[*]	  	[*]
					
	 Segment 5
	  	[*]	  	[*]	  	[*]	  	[*]
					
	 Segment 6
	  	[*]	  	[*]	  	[*]	  	[*]
					
	 Segment 7
	  	[*]	  	[*]	  	[*]	  	[*]
					
	 Segment 8
	  	[*]	  	[*]	  	[*]	  	[*]

  

	*	For illustration purposes, if sales of enzyme were [*] MTEP, the Full Segment 8 Payment would equal [*], and the Cumulative Segment Payment would equal [*] (i.e, [*]).

 MTEP will be calculated using [*] 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT H 
 FORM OF PRESS RELEASE 
 See Attached 

 

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

			
	
 

	 	Codexis, Inc.
		 	200 Penobscot Drive
		 	Redwood City, CA 94063
		 	 Tel: 650.421-8100
 www.codexis.com

  

			
	
 

	  	Dyadic International, Inc.
		  	140 Intracoastal Pointe Drive, Suite 404
		  	Jupiter, Florida 33477-5094 USA
		  	Phone: 1-561-743-8333
		  	www.dyadic.com

 Codexis, Dyadic In Enzyme
Production System License Agreement 
 Redwood City, CA and Jupiter, FL – (Date) – Codexis, Inc. and Dyadic
International (USA), Inc. today announced a license agreement covering use of Dyadic’s C1 expression system for large-scale production of enzymes in certain fields including biofuels and chemical and pharmaceutical intermediate production. The
agreement includes an upfront payment by Codexis of $10 million provided that certain performance criteria are satisfied. Additional financial terms were not disclosed. 
 “Codexis develops improved biocatalysts which are solving specific industrial challenges for global leaders in pharmaceuticals and bioindustrials. We are developing advanced biofuels from non-food
biomass sources, and we have other programs aimed at addressing critical environmental issues,” said Alan Shaw, Ph.D., Codexis President and Chief Executive Officer. “The Dyadic production system expands our technology platform, providing
improved capability and efficiency in enzyme production across many Codexis programs.” 
 “Dyadic’s C1 expression
system enables the cost-effective manufacture of industrial enzymes at commercial scale,” said Mark Emalfarb, Dyadic Founder and Chief Executive Officer. “We anticipate our C1 System may help overcome limitations of current techniques, and
can be an important tool as Codexis develops new fuels and other clean technology products.” 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 About Codexis 
 Codexis Inc. is a clean technology company. Codexis develops biocatalysts used to create powerful, efficient and cleaner chemistry-based manufacturing processes in the life sciences, bioindustrial and
chemical marketplaces. Codexis technology is used by global pharmaceutical companies for cost-effective manufacturing of human therapeutics and in the energy industry to enable advanced biofuels. Future commercial applications include carbon
management, water treatment and chemical manufacturing. For more information, visit www.codexis.com. 
 About Dyadic 
 Dyadic International, Inc. is engaged in the development, manufacture and sale of biological products using a number of proprietary fungal strains to produce
enzymes and other biomaterials, principally focused on a system for protein production based on the patented Chrysosporium lucknowense fungus, known as C1. 
 Dyadic is applying its technologies for the production of enzymes for various industrial applications such as pulp and paper, food and feed, and is working on diminishing its reliance of enzyme sales into
the textile industry. Dyadic uses, for itself and others, its patented and proprietary technologies to conduct research and development activities for the discovery, development, and manufacture of products and enabling solutions to the bioenergy,
industrial enzyme and pharmaceutical industries. 
 Cautionary Statement for Forward-Looking Statements 
 Certain statements made in this press release may be considered “forward-looking statements.” These forward-looking statements are based upon
current expectations and involve a number of assumptions, risks and uncertainties that could cause our actual results, performance or achievements to be materially different from such forward-looking statements. In view of such risks and
uncertainties, investors and stockholders should not place undue reliance on our forward-looking statements. Such statements speak only as of the date of this release, and we undertake no obligation to update any forward looking statements made
herein. 
 Contact: 
 Codexis:
Lyn Christenson, lyn.christenson@codexis.com, 650-421-8144, www.codexis.com, or 
 Justin Jackson, jjackson@burnsmc.com, Burns McClellan,
212-213-0006 
 Dyadic: Richard Jundzil, rjundzil@dyadic.com, 561-743-8333. www.dyadic.com. 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT I 
 CERTIFICATE OF SECRETARY 
 DYADIC INTERNATIONAL (USA), INC. 
 See Attached 

 

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 CERTIFICATE OF SECRETARY

 OF 
 DYADIC INTERNATIONAL (USA), INC. 
 The undersigned, Vito Pontrelli, hereby certifies as follows: 
 A. He is the duly elected, qualified and
acting Secretary of Dyadic International (USA), Inc., a Florida corporation (the “Company”). 
 B. Attached hereto as Exhibit A is a true and complete copy of the resolutions of the Company’s Board of Directors, adopted at the November 12, 2008 meeting of the Board of Directors, approving the
execution of the License Agreement by and between Codexis, Inc. and the Company of even date herewith (the “License Agreement”) and the taking of other actions necessary and appropriate for the Company to enter into the License Agreement
and to carry out the provisions thereof; such resolutions have not been modified or rescinded since their adoption and remain in full force and effect. 
 C. Each person that approved the resolutions attached hereto as Exhibit A is a duly elected and qualified member of the Company’s Board of Directors. 
 D. The approval of the stockholders of the Company is not required under the Company’s Certificate of Incorporation, Bylaws
or any applicable law for the Company to enter into the License Agreement or to carry out the provisions thereof. 
 IN WITNESS
WHEREOF, the undersigned has executed this Secretary’s Certificate this 14th day of November, 2008. 
  

			
	By:	 	 /s/ Vito Pontrelli

		 	Vito Pontrelli
		 	Secretary

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT J 
 CERTIFICATE OF SECRETARY 
 DYADIC INTERNATIONAL, INC. 
 See Attached 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 CERTIFICATE OF SECRETARY

 OF 
 DYADIC INTERNATIONAL, INC. 
 The undersigned, Vito Pontrelli, hereby certifies as follows: 
 A. He is the duly elected, qualified and
acting Secretary of Dyadic International, Inc., a Delaware corporation (the “Company”). 
 B. Attached
hereto as Exhibit A is a true and complete copy of the resolutions of the Company’s Board of Directors, adopted at the November 12, 2008 meeting of the Board of Directors, approving the execution of the License Agreement by and
between Codexis, Inc. and the Company of even date herewith (the “License Agreement”) and the taking of other actions necessary and appropriate for the Company to enter into the License Agreement and to carry out the provisions thereof;
such resolutions have not been modified or rescinded since their adoption and remain in full force and effect. 
 C. Each person that approved the resolutions attached hereto as Exhibit A is a duly elected and qualified member of the Company’s Board of Directors. 
 D. The approval of the stockholders of the Company is not required under the Company’s Certificate of Incorporation, Bylaws
or any applicable law for the Company to enter into the License Agreement or to carry out the provisions thereof. 
 IN WITNESS
WHEREOF, the undersigned has executed this Secretary’s Certificate this 14th day of November, 2008. 
  

			
	By:	 	 /s/ Vito Pontrelli

		 	Vito Pontrelli
		 	Secretary

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT K 
 FORM OF ESCROW AGREEMENT 
 See attached

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 ESCROW AGREEMENT 
 This Escrow Agreement (this “Escrow Agreement”) dated this      day of             , 2009
(the “Effective Date”), is entered into by and among Codexis, Inc., a Delaware corporation, having a place of business at 200 Penobscot Drive, Redwood City, California 94063, United States of America,
(“Codexis”), Dyadic International (USA), Inc., a corporation organized under the laws of Florida, having its principal office at 140 Intracoastal Pointe Drive, Suite 404, Jupiter, Florida 33477-5094, United States of America
(“Dyadic”) (Dyadic and Codexis, are each referred to herein by name or collectively, as the “Parties,” and individually, as a “Party”), and Wells Fargo Bank, National Association, as escrow agent
(“Escrow Agent”). 
 RECITALS 
 A. Dyadic owns or has rights under certain biological materials, patent rights and know-how relating to the generation and use of its and his proprietary Chrysosporium lucknowense
(“C1”) technology for the expression of certain genes and secretion of certain corresponding enzymes. 
 B.
Codexis and Dyadic have entered into a non-exclusive license under such C1 patent rights and know-how of Dyadic and, in addition, Dyadic have agreed to provide Codexis access to the biological materials under the License Agreement by and between the
Parties, dated November 14, 2008 (the “License Agreement”). 
 C. Dyadic and Codexis have agreed that
Codexis shall place into escrow with the Escrow Agent, a portion of the license fees set forth under Section 3.1 of the License Agreement, and the Escrow Agent agrees to strictly hold and distribute such funds in accordance with the terms of
this Escrow Agreement. 
 In consideration of the promises and agreements of the Parties and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties and the Escrow Agent agree as follows: 
 ARTICLE 1 
 ESCROW DEPOSIT 
 Section 1.1. Receipt of Escrow Property. Within [*] days after receipt of the Dyadic Materials

 
(as defined in the License Agreement), Codexis shall notify the Escrow Agent that they shall deliver to the Escrow Agent the amount of [*] (the “Escrow Property”) [*].

 Section 1.2. Investments. 
 (a) Subject to the terms and conditions set forth in this Escrow Agreement, the Escrow Agent is authorized and directed to deposit, transfer, hold and invest the Escrow Property and any investment income
thereon as set forth in Exhibit A hereto, or as set forth in any subsequent written instruction signed by the Parties. Any investment earnings and income on the Escrow Property shall become part of the Escrow Property, and shall be disbursed in
accordance with Section 1.3 and Section 1.5 of this Escrow Agreement. 
 (b) The Escrow Agent is hereby authorized and
directed to sell or redeem any such investments as it deems necessary to make any payments or distributions required under this Escrow Agreement. The Escrow Agent shall have no responsibility or liability for any loss which may result from any
investment or sale of investment made pursuant to this Escrow Agreement. The Escrow Agent is hereby authorized, in making or disposing of any investment permitted by this Escrow Agreement, to deal with itself (in its individual capacity) or with any
one or more of its affiliates, whether it or any such affiliate is acting as agent of the Escrow Agent or for any third person or dealing as principal for its own account. The Parties acknowledge that the Escrow Agent is not providing investment
supervision, recommendations, or advice. 
 Section 1.3. Disbursements. 
 (a) If the conditions set forth in Schedule 1.13 of the License Agreement are met, the Parties shall provide a joint instruction to Escrow
Agent to release the Escrow Property to Dyadic and Escrow Agent shall promptly, and in any event within [*] business days of receipt of such instruction, disburse such Escrow Property in accordance with such instruction. 
 (b) If it is determined in accordance with the License Agreement that the Dyadic Materials do not meet the performance criteria set forth in
Exhibit E of the License Agreement, the Parties shall provide a joint instruction to Escrow Agent to release the Escrow Property to Codexis and Escrow Agent shall promptly, and in any event within [*] business days of receipt of such instruction,
disburse such Escrow Property in accordance with such instruction. 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 (c) Notwithstanding anything to the contrary in this Escrow Agreement, the Escrow Property
shall be immediately disbursed to Codexis [*] days after the Effective Date if the Escrow Property has not previously been disbursed in accordance with Section 1.3(a) or (b) hereof. 
 Section 1.4. Income Tax Allocation and Reporting. 
 (a) The Parties agree that, for tax reporting purposes, all interest and other income from investment of the Escrow Property shall, as of the end of each calendar year and to the extent required by the
Internal Revenue Service, be reported as having been earned by [*], whether or not such income was disbursed during a such calendar year. 
 (b) Prior to closing, the Parties shall provide the Escrow Agent with certified tax identification numbers by furnishing appropriate forms W-9 or W-8 and such other forms and documents that the Escrow
Agent may request. The Parties understand that if such tax reporting documentation is not provided and certified to the Escrow Agent, the Escrow Agent may be required by the Internal Revenue Code of 1986, as amended, and the Regulations promulgated
there under, to withhold a portion of any interest or other income earned on the investment of the Escrow Property. 
 (c) To
the extent that the Escrow Agent becomes liable for the payment of any taxes in respect of income derived from the investment of the Escrow Property, the Escrow Agent shall satisfy such liability to the extent possible from the Escrow Property. The
Parties, jointly and severally, shall indemnify, defend and hold the Escrow Agent harmless from and against any tax, late payment, interest, penalty or other cost or expense that may be assessed against the Escrow Agent on or with respect to the
Escrow Property and the investment thereof unless such tax, late payment, interest, penalty or other expense was directly caused by the gross negligence or willful misconduct of the Escrow Agent. The indemnification provided by this
Section 1.4(c) is in addition to the indemnification provided in Section 3.1 and shall survive the resignation or removal of the Escrow Agent and the termination of this Escrow Agreement. 
 Section 1.5. Termination. Upon the disbursement of all of the Escrow Property, including any interest and investment earnings
thereon, this Escrow Agreement shall terminate and be of no further force and effect except that the provisions of Sections 1.4(c), 3.1 and 3.2, 4.3, 4.4, 4.5, 4.7, 4.8, 4.9 and Article 5 hereof shall survive termination. 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 ARTICLE 2 
 DUTIES OF THE ESCROW AGENT 
 Section 2.1. Scope of Responsibility.
Notwithstanding any provision to the contrary, the Escrow Agent is obligated only to perform the duties specifically set forth in this Escrow Agreement, which shall be deemed purely ministerial in nature. Under no circumstances will the Escrow Agent
be deemed to be a fiduciary to any Party or any other person under this Escrow Agreement. The Escrow Agent will not be responsible or liable for the failure of any Party to perform in accordance with this Escrow Agreement. The Escrow Agent shall
neither be responsible for, nor chargeable with, knowledge of the terms and conditions of any other agreement, instrument, or document other than this Escrow Agreement, whether or not an original or a copy of such agreement has been provided to the
Escrow Agent; and the Escrow Agent shall have no duty to know or inquire as to the performance or nonperformance of any provision of any such agreement, instrument, or document. References in this Escrow Agreement to any other agreement, instrument,
or document are for the convenience of the Parties, and the Escrow Agent has no duties or obligations with respect thereto. This Escrow Agreement sets forth all matters pertinent to the escrow contemplated hereunder, and no additional obligations of
the Escrow Agent shall be inferred or implied from the terms of this Escrow Agreement or any other agreement. 
 Section 2.2. Attorneys and Agents. The Escrow Agent shall be entitled to rely on and shall not be liable for any action taken or omitted to be taken by the Escrow Agent in accordance with the advice of counsel or other
professionals retained or consulted by the Escrow Agent. The Escrow Agent shall be reimbursed as set forth in Section 3.1 for any and all compensation (fees, expenses and other costs) paid and/or reimbursed to such counsel and/or professionals.
The Escrow Agent may perform any and all of its duties through its agents, representatives, attorneys, custodians, and/or nominees. 
 Section 2.3. Reliance. The Escrow Agent shall not be liable for any action taken or not taken by it in accordance with the direction or consent of the Parties or their respective agents, representatives, successors, or assigns.
The Escrow Agent shall not be liable for acting or refraining from acting upon any notice, request, consent, direction, requisition, certificate, order, affidavit, letter, or other paper or document believed by it to be genuine and correct and to
have been signed or sent by the proper person or persons, without further inquiry into the person’s or persons’ authority. Concurrent with the execution of this Escrow Agreement, the Parties shall deliver to the Escrow Agent authorized
signers’ forms in the form of Exhibit B-1 and Exhibit B-2 to this Escrow Agreement. 
 Section 2.4. Right Not Duty
Undertaken. The permissive rights of the Escrow Agent to do things enumerated in this Escrow Agreement shall not be construed as duties. 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Section 2.5. No Financial Obligation. No provision of this Escrow Agreement
shall require the Escrow Agent to risk or advance its own funds or otherwise incur any financial liability or potential financial liability in the performance of its duties or the exercise of its rights under this Escrow Agreement. 
 ARTICLE 3 
 PROVISIONS CONCERNING THE ESCROW AGENT 
 Section 3.1. Indemnification. The Parties, jointly and severally, shall
indemnify, defend and hold harmless the Escrow Agent from and against any and all loss, liability, cost, damage and expense, including, without limitation, attorneys’ fees and expenses or other professional fees and expenses which the Escrow
Agent may suffer or incur by reason of any action, claim or proceeding brought against the Escrow Agent, arising out of or relating in any way to this Escrow Agreement or any transaction to which this Escrow Agreement relates, unless such loss,
liability, cost, damage or expense shall have been finally adjudicated to have been directly caused by the willful misconduct or gross negligence of the Escrow Agent. The provisions of this Section 3.1 shall survive the resignation or removal
of the Escrow Agent and the termination of this Escrow Agreement.  
 Section 3.2. Limitation of Liability. THE ESCROW AGENT
SHALL NOT BE LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY (I) DAMAGES, LOSSES OR EXPENSES ARISING OUT OF THE SERVICES PROVIDED HEREUNDER, OTHER THAN DAMAGES, LOSSES OR EXPENSES WHICH HAVE BEEN FINALLY ADJUDICATED TO HAVE DIRECTLY RESULTED FROM THE
ESCROW AGENT’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, OR (II) SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES OR LOSSES OF ANY KIND WHATSOEVER (INCLUDING WITHOUT LIMITATION LOST PROFITS), EVEN IF THE ESCROW AGENT HAS BEEN ADVISED OF THE
POSSIBILITY OF SUCH LOSSES OR DAMAGES AND REGARDLESS OF THE FORM OF ACTION. 
 Section 3.3. Resignation or Removal.
The Escrow Agent may resign by furnishing written notice of its resignation to the Parties, and the Parties may remove the Escrow Agent by furnishing to the Escrow Agent a joint written notice of its removal along with payment of all fees and
expenses to which it is entitled through the date of termination. Such resignation or removal, as the case may be, shall be effective [*] days after the delivery of such written notice or upon the earlier appointment of a successor, and the Escrow
Agent’s sole responsibility thereafter shall be to safely keep the Escrow Property and to deliver the same to a successor escrow agent as shall be appointed by the Parties, as evidenced by a joint written notice filed with the Escrow Agent or
in accordance with a court order. If the Parties have failed to appoint a successor escrow agent prior to the expiration of [*] days following the delivery of such notice of resignation or removal, the Escrow Agent may petition any court of
competent jurisdiction for

  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
the appointment of a successor escrow agent or for other appropriate relief, and any such resulting appointment shall be binding upon the Parties. 
 Section 3.4. Compensation. The Escrow Agent shall be entitled to compensation for its services as stated in the fee schedule attached hereto as
Exhibit C. [*]. The fee agreed upon for the services rendered hereunder is intended as full compensation for the Escrow Agent’s services as contemplated by this Escrow Agreement; provided, however, that in the event that the conditions for the
disbursement of funds under this Escrow Agreement are not fulfilled, or the Escrow Agent renders any service not contemplated in this Escrow Agreement, or there is any assignment of interest in the subject matter of this Escrow Agreement, or any
material modification hereof, or if any material controversy arises hereunder, or the Escrow Agent is made a party to any litigation pertaining to this Escrow Agreement or the subject matter hereof, then the Escrow Agent shall be compensated for
such extraordinary services and reimbursed for all costs and expenses, including reasonable attorneys’ fees and expenses, occasioned by any such delay, controversy, litigation or event. If any amount due to the Escrow Agent hereunder is not
paid within [*] days of the date due, the Escrow Agent [*] may [*]. 
 Section 3.5. Disagreements. If any conflict,
disagreement or dispute arises between, among, or involving any of the parties hereto concerning the meaning or validity of any provision hereunder or concerning any other matter relating to this Escrow Agreement, or the Escrow Agent is in doubt as
to the action to be taken hereunder, the Escrow Agent is authorized to retain the Escrow Property until the Escrow Agent (i) receives a final non-appealable order of a court of competent jurisdiction or a final non-appealable arbitration
decision directing delivery of the Escrow Property, (ii) receives a written agreement executed by each of the parties involved in such disagreement or dispute directing delivery of the Escrow Property, in which event the Escrow Agent shall be
authorized to disburse the Escrow Property in accordance with such final court order, arbitration decision, or agreement, or (iii) files an interpleader action in any court of competent jurisdiction, and upon the filing thereof, the Escrow
Agent shall be relieved of all liability as to the Escrow Property [*]. The Escrow Agent shall be entitled to act on any such agreement, court order, or arbitration decision without further question, inquiry, or consent. 
 Section 3.6. Merger or Consolidation. Any corporation or association into which the Escrow Agent may be converted or merged, or
with which it may be consolidated, or to which it may sell or transfer all or substantially all of its corporate trust business and assets as a whole or substantially as a whole, or any corporation or association resulting from any such conversion,
sale, merger, consolidation or transfer to which the Escrow Agent is a party, shall be and become the successor escrow agent under this Escrow Agreement and shall have and succeed to the rights, powers, duties, immunities and privileges as its
predecessor, without the execution or filing of any instrument or paper or the performance of any further act. 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Section 3.7. Attachment of Escrow Property; Compliance with Legal Orders. In the
event that any Escrow Property shall be attached, garnished or levied upon by any court order, or the delivery thereof shall be stayed or enjoined by an order of a court, or any order, judgment or decree shall be made or entered by any court order
affecting the Escrow Property, the Escrow Agent is hereby expressly authorized, in its sole discretion, to respond as it deems appropriate or to comply with all writs, orders or decrees so entered or issued, or which it is advised by legal counsel
of its own choosing is binding upon it, whether with or without jurisdiction. In the event that the Escrow Agent obeys or complies with any such writ, order or decree it shall not be liable to any of the Parties or to any other person, firm or
corporation, should, by reason of such compliance notwithstanding, such writ, order or decree be subsequently reversed, modified, annulled, set aside or vacated. 
 ARTICLE 4 
 MISCELLANEOUS 
 Section 4.1. Successors and Assigns. This Escrow Agreement shall be binding on and inure to the benefit of the Parties and the Escrow Agent and
their respective successors and permitted assigns. No other persons shall have any rights under this Escrow Agreement. No assignment of the interest of any of the Parties shall be binding unless and until written notice of such assignment shall
be delivered to the other Party and the Escrow Agent and shall require the prior written consent of the other Party and the Escrow Agent (such consent not to be unreasonably withheld). 
 Section 4.2. Escheat. The Parties are aware that under applicable state law, property which is presumed abandoned may under
certain circumstances escheat to the applicable state. The Escrow Agent shall have no liability to the Parties, their respective heirs, legal representatives, successors and assigns, or any other party, should any or all of the Escrow Property
escheat by operation of law. 
 Section 4.3. Notices. All notices, requests, demands, and other communications
required under this Escrow Agreement shall be in writing, in English, and shall be deemed to have been duly given if delivered (i) personally, (ii) by facsimile transmission with written confirmation of receipt, (iii) by overnight
delivery with a reputable national overnight delivery service, or (iv) by mail or by certified mail, return receipt requested, and postage prepaid. If any notice is mailed, it shall be deemed given five business days after the date such notice
is deposited in the United States mail. Any notice given shall be deemed given upon the actual date of such delivery. If notice is given to a party, it shall be given at the address for such party set forth below. It shall be the responsibility of
the Parties to notify the Escrow Agent and the other Party in writing of any name or address changes. In the case of communications delivered to the Escrow Agent, such communications shall be deemed to have been given on the date received by the
Escrow Agent. 
  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

			
	 If to Codexis:
	    	Codexis, Inc.
		    	200 Penobscot Drive
		    	Redwood City, CA 94063
		    	Attention: General Manager, Bioindustrials
		    	Fax: [*]
		
	 With a copy to:
	    	Codexis, Inc.
		    	200 Penobscot Drive
		    	Redwood City, CA 94063
		    	Attention: General Counsel
		    	Fax: [*]
		
	 If to Dyadic:
	    	Dyadic International, Inc.
		    	140 Intracoastal Pointe Drive, Suite 404
		    	Jupiter, FL 33477-5094
		    	Attention: Mark A. Emalfarb
		    	Fax: [*]
		
	 With a copy to:
	    	Robert Levin
		    	Levin & Ginsburg
		    	180 North LaSalle Street, Suite 3200
		    	Chicago, IL 60601
		    	Fax: [*]

 If to the Escrow Agent:

  

	
	Wells Fargo Bank, National Association
	
	707 Wilshire Blvd, 17th Floor
	
	MAC #E2818-176
	
	Los Angeles, CA 90017

  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	
	Attention: [*], Corporate Trust and Escrow Services
	
	Telephone: [*]
	
	Facsimile: [*]

 Section 4.4.
Governing Law. This Escrow Agreement shall be governed by and construed in accordance with the laws of the State of New York. 
 Section 4.5. Entire Agreement. This Escrow Agreement sets forth the entire agreement and understanding of the parties related to the Escrow Property. 
 Section 4.6. Amendment. This Escrow Agreement may be amended, modified, superseded, rescinded, or canceled only by a written instrument executed by the Parties and the Escrow Agent.

 Section 4.7. Waivers. The failure of any party to this Escrow Agreement at any time or times to require
performance of any provision under this Escrow Agreement shall in no manner affect the right at a later time to enforce the same performance. A waiver by any party to this Escrow Agreement of any such condition or breach of any term, covenant,
representation, or warranty contained in this Escrow Agreement, in any one or more instances, shall neither be construed as a further or continuing waiver of any such condition or breach nor a waiver of any other condition or breach of any other
term, covenant, representation, or warranty contained in this Escrow Agreement. 
 Section 4.8. Headings. Section
headings of this Escrow Agreement have been inserted for convenience of reference only and shall in no way restrict or otherwise modify any of the terms or provisions of this Escrow Agreement. 
 Section 4.9. Counterparts. This Escrow Agreement may be executed in one or more counterparts, each of which when executed shall
be deemed to be an original, and such counterparts shall together constitute one and the same instrument. 
 ARTICLE 5

  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 CONFIDENTIALITY 
 Section 5.1. Escrow Agreement Terms. The existence of and the terms and conditions of this Escrow Agreement shall be held in
strict confidence by the Parties and the Escrow Agent, subject only to disclosure in response to a valid court order, or as required under the regulations of a court, other governmental body or as a matter of law. 
 [The remainder of this page left intentionally blank.] 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 IN WITNESS WHEREOF, this Escrow Agreement has been duly executed as of the date first
written above. 
  

			
	Codexis, Inc. (“Codexis”)
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	Dyadic International (USA), Inc. (“Dyadic”)
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Escrow Agent
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT A 
 Agency and Custody Account Direction 
 For Cash Balances 

Direction to use Wells Fargo Advantage Funds for Cash Balances for the escrow account or accounts (the “Account”) established
under the Escrow Agreement to which this Exhibit A is attached. 
 You are hereby directed to invest, as indicated below or as I
shall direct further from time to time, all cash in the Account in the following money market portfolio of Wells Fargo Advantage Funds (the “Fund”) or another permitted investment of my choice (Check One): 
     Wells Fargo Advantage Funds, Government Money Market Fund 
     Wells Fargo Advantage Funds, Cash Investment Money Market Fund 
     Wells Fargo Advantage Funds, Prime Investment Money Market Fund 
     Wells Fargo Advantage Funds, Treasury Plus Money Market Fund 
     Wells Fargo Advantage Funds, 100% Treasury Money Market Fund 
     Wells Fargo Advantage Funds, National Tax-Free Money Market Fund 
 I acknowledge that I have received, at my request, and reviewed the Fund’s prospectus and have determined that the Fund is an
appropriate investment for the Account. 
 I understand from reading the Fund’s prospectus that Wells Fargo Funds
Management, LLC (“Wells Fargo Funds Management”), a wholly-owned subsidiary of Wells Fargo & Company, provides investment advisory and other administrative services for the Wells Fargo Advantage Funds. Other affiliates
of Wells Fargo & Company provide sub-advisory and other services for the Funds. Boston Financial Data Services serves as transfer agent for the Funds. The Funds are distributed by Wells Fargo Funds Distributor, LLC, Member
NASD/SIPC, an affiliate of Wells Fargo & Company. I also understand that Wells Fargo & Company will be paid, and its bank affiliates may be paid, fees for services to the Funds and that those fees may include Processing
Organization fees as described in the Fund’s prospectus. 
 I understand that you will not exclude amounts invested in the
Fund from Account assets subject to fees under the Account agreement between us. 
  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 I understand that investments in the Fund are not obligations of, or endorsed or guaranteed
by, Wells Fargo Bank or its affiliates and are not insured by the Federal Deposit Insurance Corporation. 
 I acknowledge that I
have full power to direct investments of the Account. 
 I understand that I may change this direction at any time and that it
shall continue in effect until revoked or modified by me by written notice to you. 
 I understand that if I choose to
communicate this investment direction solely via facsimile, then the investment direction will be understood to be enforceable and binding. 
  

					
	  
	 		  	  

			
	Authorized Representative	 		  	Authorized Representative
			
	Codexis, Inc.	 		  	Dyadic International (USA), Inc.
			
	  
	 		  	  

	Date	 		  	Date

  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT B-1 
 CERTIFICATE AS TO AUTHORIZED SIGNATURES 
 The specimen signatures
shown below are the specimen signatures of the individuals who have been designated as authorized representatives of Codexis, Inc. and are authorized to initiate and approve transactions of all types for the escrow account or
accounts established under the Escrow Agreement to which this Exhibit B-1 is attached, on behalf of Codexis, Inc. 
  

					
	Name / Title	 		  	Specimen Signature
			
	  
	 		  	  

	 Name
  
  
 Title
	 		  	Signature
			
	  
	 		  	  

	 Name
  
  
 Title
	 		  	Signature

  

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Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT B-2 
 CERTIFICATE AS TO AUTHORIZED SIGNATURES 
 The specimen signatures
shown below are the specimen signatures of the individuals who have been designated as authorized representatives of Dyadic International (USA), Inc. and are authorized to initiate and approve transactions of all types for the
escrow account or accounts established under the Escrow Agreement to which this Exhibit B-2 is attached, on behalf of Dyadic International (USA), Inc. 
  

					
	 Name / Title
	 	 	  	 Specimen Signature

			
	  
	 		  	  

	 Name
  
  
 Title
	 		  	Signature
			
	  
	 		  	  

	 Name
  
  
 Title
	 		  	Signature

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT C 
 FEES OF ESCROW AGENT 
  

			
	[*]            	  	[*]        

 SCHEDULE OF FEES 
 to act as ESCROW AGENT for the

 Codexis Cash Escrow Account 
  

					
	 Escrow Agent Acceptance and Administration Fee:
	  	[*]            	 	

 Fees as they relate to Wells Fargo Bank acting in the capacity of Escrow Agent – includes
creation and examination of the Escrow Agreement; acceptance of the Escrow appointment; setting up of Escrow Account(s) and accounting records; and coordination of receipt of funds for deposit to the Escrow Account. 
 Also includes ordinary administration services by Escrow Agent – includes daily routine account management; investment transactions;
cash transaction processing (including wires and check processing); monitoring claim notices pursuant to the agreement; disbursement of the funds in accordance with the agreement; and mailing of trust account statements to all applicable parties.

 Tax reporting is included for up to [*] entities. Should additional reporting be necessary, a [*] per reporting charge will
be assessed. 
 This fee is [*]. 
 Should this Escrow Account be in existence for more than [*] months, an Annual Fee of [*] will be assessed. 
 Wells Fargo’s bid is based on the following assumptions: 
  

	•	 	 Number of Escrow Accounts to be established: [*] 

  

	•	 	 Number of Deposits to Escrow Account: Not more than [*] 

  

	•	 	 Number of Withdrawals from Escrow Fund: Not more than [*] 

  

	•	 	 Term of Escrow: Not more than [*] 

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	•	 	 THIS FEE SCHEDULE ASSUMES THAT BALANCES IN THE ESCROW ACCOUNT WILL BE INVESTED IN MONEY MARKET FUNDS “OR DEPOSITORY ACCOUNTS” THAT
WELLS FARGO HAS A RELATIONSHIP WITH 

  

	•	 	 ALL FUNDS WILL BE RECEIVED FROM OR DISTRIBUTED TO A DOMESTIC OR AN APPROVED FOREIGN ENTITY 

  

	•	 	 IF THE ACCOUNT(S) DOES NOT OPEN WITHIN [*] MONTHS OF THE DATE SHOWN BELOW, THIS PROPOSAL WILL BE DEEMED TO BE NULL AND VOID

  

					
	 Out-of Pocket Expenses:
	 	 [*]
	  	

 We only charge for out-of-pocket expenses in response to specific tasks assigned by the client.
Therefore, we cannot anticipate what specific out-of-pocket items will be needed or what corresponding expenses will be incurred. Possible expenses would be, but are not limited to, express mail and messenger charges, travel expenses to attend
closing or other meetings. There are no charges for indirect out-of- pocket expenses. 
 This fee schedule is based upon
the assumptions listed above which pertain to the responsibilities and risks involved in Wells Fargo undertaking the role of Escrow Agent. These assumptions are based on information provided to us as of the date of this fee schedule. Our fee
schedule is subject to review and acceptance of the final documents. Should any of the assumptions, duties or responsibilities change, we reserve the right to affirm, modify or rescind our fee schedule. Submitted on: October 27,
2008 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 SCHEDULE 1.13 
 ESCROW RELEASE CONDITIONS 
 Amounts held in escrow, pursuant to
the terms of the Escrow Agreement, will be released to Dyadic after delivery to Codexis of evidence in writing of: 
 [*] 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 SCHEDULE 8.2(a) 
 SCHEDULE OF EXCEPTIONS 
 This Schedule of Exceptions is made
and given pursuant to Section 8.2(a) of the License Agreement, dated as of November 14, 2008 (the “Agreement”), between Dyadic International (USA), Inc., a Florida corporation (the
“Company”), and Codexis, Inc., a Delaware corporation (“Codexis”). All capitalized terms used but not defined herein shall have the meanings as defined in the Agreement, unless otherwise provided. The
section numbers below correspond to the section numbers of the representations and warranties in the Agreement; provided, however, that any information disclosed herein under any section number shall be deemed to be disclosed and incorporated
into any other section number under the Agreement where such disclosure would be appropriate. 
  

	 	•	 	 [*] 

  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 SCHEDULE 8.2(b) 
 POST-CLOSING ACTIONS 
 [*] 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 SCHEDULE 8.3(a) 
 Third Parties 
 [*] 
  

 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

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