Document:

exv10w7

Exhibit 10.7

KiOR, INC.

2011 LONG-TERM INCENTIVE PLAN

     1. Plan. This KiOR, Inc. 2011 Long-Term Incentive Plan (this “Plan”) was adopted by
the Board of Directors of KiOR, Inc., a Delaware corporation (the “Company”), to reward certain
officers, employees and directors of the Company and its Subsidiaries by enabling them to acquire
shares of Common Stock and by providing for certain cash benefits.

     2. Objectives. This Plan is designed to attract and retain officers, employees and
directors of the Company and its Subsidiaries, to encourage the sense of proprietorship of such
officers, employees and directors, to stimulate the active interest of such persons in the
development and financial success of the Company and its Subsidiaries, and to provide such persons
with additional incentive and reward opportunities designed to enhance the profitable growth of the
Company and its Subsidiaries. These objectives are to be accomplished by making Awards under this
Plan and thereby aligning the interests of Participants and the Company’s stockholders, motivating
Participants to act in the long-term best interests of the Company and its Subsidiaries, and
providing Participants with a proprietary interest in the growth and performance of the Company and
its Subsidiaries.

     3. Definitions. As used herein, the terms set forth below shall have the following
respective meanings:

     (a) “Award” means any Option, SAR, Stock Award, Restricted Stock Unit Award, Performance Stock
Unit Award, Cash Award or Performance Award granted, whether singly, in combination or in tandem,
to a Participant pursuant to such applicable terms, conditions and limitations (including treatment
as a Performance Award) as the Committee may establish.

     (b) “Award Agreement” means a written notice or agreement setting forth the terms, conditions
and limitations applicable to an Award, to the extent the Committee determines such agreement is
necessary.

     (c) “Board” means the Board of Directors of the Company.

     (d) “Cash Award” means an award denominated in cash.

     (e) “Change in Control” means a change in ownership or control of the Company effected through
any of the following transactions, but only if such transaction constitutes a change in the
ownership or effective control of a corporation or a change in the ownership of a substantial
portion of the assets of a corporation under Section 409A of the Code and accompanying U.S.
Treasury regulations:

     i. a merger, consolidation or other reorganization approved by the Company’s
stockholders, unless securities representing more than 50% of the total combined voting
power of the voting securities of the successor company are immediately thereafter
beneficially owned, directly or indirectly and in substantially the same proportion, by the
persons who beneficially owned the Company’s outstanding voting securities immediately prior
to such transaction, or

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     ii. a stockholder-approved sale, transfer or other disposition of all or substantially
all of the Company’s assets in complete liquidation or dissolution of the Company, or

     iii. the acquisition, directly or indirectly by any person or related group of persons
(other than the Company or a person that directly or indirectly controls, is controlled by,
or is under common control with, the Company), of beneficial ownership (within the meaning
of Rule 13d-3 of the Exchange Act) of securities possessing more than 50% of the total
combined voting power of the Company’s outstanding securities pursuant to a tender or
exchange offer made directly to the Company’s stockholders.

     (f) In no event shall any public offering of the Company’s securities be deemed to constitute
a Change in Control.

     (g) “Code” means the Internal Revenue Code of 1986, as amended.

     (h) “Committee” means such committee of two or more members of the Board as is designated by
the Board to administer this Plan, or the full Board if so designated.

     (i) “Common Stock” means the Class A Common Stock, par value $.0001 per share, of the Company.

     (j) “Company” means KiOR, Inc., a Delaware corporation.

     (k) “Disabled” or “Disability” means an individual (i) is unable to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment which can be
expected to result in death or can be expected to last for a continuous period of not less than 12
months or (ii) is, by reason of any medically determinable physical or mental impairment which can
be expected to result in death or can be expected to last for a continuous period of not less than
12 months, receiving income replacement benefits for a period of not less than three months under a
Company-sponsored accident and health plan. Notwithstanding the foregoing, with respect to an
Incentive Stock Option, “Disability” means a permanent and total disability, within the meaning of
Section 22(e)(3) of the Code, as determined by the Plan Committee in good faith, upon receipt of
medical advice from one or more individuals, selected by the Plan Committee, who are qualified to
give professional medical advice.

     (l) “Director” means a member of the Board of Directors of the Company.

     (m) “Effective Date” means the date on which the Company first receives payment for the shares
of Common Stock it sells under the first registration statement filed under the Securities Act of
1933, as amended, and respecting an underwritten primary offering by the Company of shares of
Common Stock that is declared effective under that Act and the shares registered by that
registration statement are issued and sold by the Company (otherwise than pursuant to the exercise
of any overallotment option).

     (n) “Employee” means an employee or officer of the Company or any of its Subsidiaries.

     (o) “Exchange Act” means the Securities Exchange Act of 1934, as amended.

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     (p) “Fair Market Value” means, as of a particular date, (i) if the shares of Common Stock are
listed on a national securities exchange, the final closing sales price per share of Common Stock
as reported on the consolidated transaction reporting system of such national securities exchange
on that date, or, if there shall have been no such sale so reported on that date, on the last
preceding date on which such a sale was so reported, (ii) if the shares of Common Stock are not so
listed but are quoted by The NASDAQ Stock Market LLC, the mean between the highest and lowest sales
price per share of Common Stock on the consolidated transaction reporting system for The NASDAQ
Stock Market LLC on that date, or, if there shall have been no such sale so reported on that date,
on the last preceding date on which such a sale was so reported, (iii) if the shares of Common
Stock are not so listed or quoted, the mean between the closing bid and asked price on that date,
or, if there are no quotations available for such date, on the last preceding date on which such
quotations shall be available, as reported by The NASDAQ Stock Market LLC, or, if not reported by
The NASDAQ Stock Market LLC, by OTC Markets Group Inc., or (iv) if none of the above are
applicable, the fair market value of a share of Common Stock as determined in good faith by the
Committee.

     (q) “Grant Date” means the date an Award is granted to a Participant pursuant to this Plan.

     (r) “Grant Price” means the price at which a Participant may exercise his or her right to
receive cash or Common Stock, as applicable, under the terms of an Award.

     (s) “Incentive Stock Option” means an Option that is intended to comply with the requirements
set forth in Section 422 of the Code.

     (t) “Non-Qualified Performance Award” means a Performance Award that is not intended to
qualify as qualified performance-based compensation under Section 162(m) of the Code, as described
in Section 8(a)(vii)(A) of this Plan.

     (u) “Non-Qualified Stock Option” means an Option that is not an Incentive Stock Option.

     (v) “Option” means a right to purchase a specified number of shares of Common Stock at a
specified Grant Price, which may be an Incentive Stock Option or a Non-Qualified Stock Option.

     (w) “Participant” means an Employee or Director to whom an Award has been granted under this
Plan.

     (x) “Performance Award” means an Award made pursuant to this Plan that is subject to the
attainment of one or more performance goals.

     (y) “Performance Goal” means a standard established by the Committee to determine in whole or
in part whether a Qualified Performance Award shall be earned.

     (z) “Performance Stock Unit” means a unit evidencing the right to receive in specified
circumstances one share of Common Stock or equivalent value in cash.

     (aa) “Performance Stock Unit Award” means an Award of Performance Stock Units that, upon
attainment of the performance goals, entitles the Participant to shares of Common Stock.

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     (bb) “Plan” has the meaning set forth in Section 1.

     (cc) “Qualified Performance Award” means a Performance Award made to a Participant who is an
Employee that is intended to qualify as qualified performance-based compensation under Section
162(m) of the Code, as described in Section 8(a)(vii)(B) of this Plan.

     (dd) “Restricted Stock” means Common Stock that is restricted or subject to forfeiture
provisions.

     (ee) “Restricted Stock Unit” means a unit evidencing the right to receive in specified
circumstances one share of Common Stock or equivalent value in cash that is restricted or subject
to forfeiture provisions.

     (ff) “Restricted Stock Unit Award” means an Award in the form of Restricted Stock Units.

     (gg) “Restriction Period” means a period of time beginning as of the Grant Date of an Award of
Restricted Stock or Restricted Stock Units and ending as of the date upon which the Common Stock
subject to such Award is issued (if not previously issued), no longer restricted or no longer
subject to forfeiture provisions.

     (hh) “Stock Appreciation Right” or “SAR” means a right to receive a payment, in cash or Common
Stock, equal to the excess of the Fair Market Value or other specified valuation of a specified
number of shares of Common Stock on the date the right is exercised over a specified Grant Price.

     (ii) “Stock Award” means an Award in the form of shares of Common Stock, including an Award of
Restricted Stock.

     (jj) “Subsidiary” means (i) with respect to any Awards other than Incentive Stock Options, any
corporation, limited liability company or similar entity of which the Company directly or
indirectly owns shares representing more than 50% of the voting power of all classes or series of
equity securities of such entity, which have the right to vote generally on matters submitted to a
vote of the holders of equity interests in such entity, and (ii) with respect to Awards of
Incentive Stock Options, any subsidiary within the meaning of Section 424(f) of the Code.

     4. Duration; Transition Relief.

     (a) Duration. This Plan will expire on the tenth anniversary of the
Effective Date or, if later, the tenth anniversary of any subsequent approval of the Plan by
stockholders, and no Awards may be granted on or after the expiration of this Plan;
provided, however, that any Award granted prior to the expiration of this Plan shall remain
outstanding in accordance with its terms.

     (b) Transition Relief. This Plan qualifies for the transition relief
from the deductibility limitation of Section 162(m) of the Code as provided under Treasury
Regulation § 162(m)-27(f).

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     5. Administration.

     (a) Authority of the Committee. This Plan shall be administered by
the Committee except as otherwise provided herein. Subject to the provisions hereof, the
Committee shall have full and exclusive power and authority to administer this Plan and to
take all actions that are specifically contemplated hereby or are necessary or appropriate
in connection with the administration hereof. The Committee shall also have full and
exclusive power to interpret this Plan and to adopt such rules, regulations and guidelines
for carrying out this Plan as it may deem necessary or proper, all of which powers shall be
exercised in the best interests of the Company and in keeping with the objectives of this
Plan. Subject to Section 5(c) hereof, the Committee may, in its discretion, provide for the
extension of the exercisability of an Award, accelerate the vesting or exercisability of an
Award, eliminate or make less restrictive any restrictions contained in an Award, waive any
restriction or other provision of this Plan (insofar as such provision relates to Awards) or
an Award or otherwise amend or modify an Award in any manner that is (i) not adverse to the
Participant to whom such Award was granted, (ii) consented to by such Participant or (iii)
authorized by Section 15 hereof; provided, however, that no such action shall permit the
term of any Option to be greater than ten years from the applicable Grant Date. The
Committee may correct any defect or supply any omission or reconcile any inconsistency in
this Plan or in any Award in the manner and to the extent the Committee deems necessary or
desirable to further the purposes of this Plan. Any decision of the Committee with respect
to Awards or in the interpretation and administration of this Plan shall lie within its sole
and absolute discretion and shall be final, conclusive and binding on all parties concerned.

     (b) Indemnification. No member of the Committee or officer of the
Company to whom the Committee has delegated authority in accordance with the provisions of
Section 5(d) hereof shall be liable for anything done or omitted to be done by him or her,
by any member of the Committee or by any officer of the Company in connection with the
performance of any duties under this Plan, except for his or her own willful misconduct or
as expressly provided by statute.

     (c) Prohibition on Repricing of Awards. No Option or SAR may be
repriced, replaced, regranted through cancellation or modified without stockholder approval
(except in connection with a change in the Company’s capitalization), if the effect would be
to reduce the Grant Price for the shares underlying such Award.

     (d) Delegation of Authority. The Committee may delegate to the
President and to other senior officers of the Company its duties under this Plan pursuant to
such conditions or limitations as the Committee may establish with respect to Awards, except
that the Committee may not delegate to any person the authority to grant Awards to, or take
other action with respect to, Participants who are subject to Section 16 of the Exchange
Act. The Committee may engage or authorize the engagement of a third party administrator to
carry out administrative functions under this Plan.

     6. Eligibility. All Employees and Directors are eligible for Awards under this
Plan. The Committee shall select the Participants in this Plan from time to time for the grant of
Awards under this Plan. In no event will an Incentive Stock Option be granted to any person other
than an Employee.

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     7. Common Stock Available for Awards. Subject to the provisions of Section 15
hereof, no Award shall be granted if it shall result in the aggregate number of shares of Common
Stock issued under this Plan plus the number of shares of Common Stock covered by or subject to
Awards then outstanding (after giving effect to the grant of the Award in question) to exceed 10%
of shares of Common Stock outstanding on the Effective Date. All shares of Common Stock available
under this Plan may be the subject of Incentive Stock Options.

     The number of shares of Common Stock that are the subject of Awards under this Plan that are
forfeited, terminated or expire unexercised shall again immediately become available for Awards
hereunder. The number of shares of Common Stock available under this Plan shall not be increased
by shares of Common Stock tendered, surrendered or withheld in connection with the exercise or
settlement of an Award or the Company’s tax withholding obligations. The Committee may from time
to time adopt and observe such procedures concerning the counting of shares against the maximum
shares available under this Plan as it may deem appropriate. The Board and the appropriate
officers of the Company shall from time to time take whatever actions are necessary to file any
required documents with governmental authorities, stock exchanges and transaction reporting systems
to ensure that shares of Common Stock are available for issuance pursuant to Awards.

     8. Awards.

     (a) The Committee shall determine the type or types of Awards to be made
under this Plan and shall designate from time to time the individuals who are to be the
recipients of such Awards. Each Award shall be evidenced in such communications as the
Committee deems appropriate, including in an Award Agreement, and shall contain such terms,
conditions and limitations as shall be determined by the Committee in its sole discretion.
Awards may consist of those listed in this Section 8(a) and may be granted singly, in
combination or in tandem. Awards may also be granted in combination or in tandem with, in
replacement of, or as alternatives to, grants or rights under this Plan or any other plan of
the Company or any of its Subsidiaries, including the plan of any acquired entity; provided,
however, that, except as contemplated in Section 15 hereof, no Option or SAR may be issued
in exchange for the cancellation of an Option or SAR with a higher Grant Price nor may the
Grant Price of any Option or SAR be reduced. All or part of an Award may be subject to
conditions established by the Committee. Upon the termination of employment by a
Participant, any unexercised, deferred, unvested or unpaid Awards shall be treated as set
forth in the applicable Award Agreement or in any other agreement with the Participant.

     (i) Option. An Award may be in the form of an Option. An Option
awarded to an Employee pursuant to this Plan may consist of either an Incentive
Stock Option or a Non-Qualified Stock Option. An Option awarded to a Director may
only consist of a Non-Qualified Stock Option. On the Grant Date, the Grant Price of
an Option shall not be less than the Fair Market Value of the Common Stock subject
to such Option. The term of the Option shall extend no more than ten years after
the Grant Date. Options may not include provisions that “reload” the Option upon
exercise. Subject to the foregoing provisions, the terms, conditions and
limitations applicable to any Options awarded pursuant to this Plan, including the
Grant Price, the term of the Options, the number of shares subject to the Option and
the date or dates upon which they become exercisable, shall be determined by the
Committee.

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     The aggregate Fair Market Value of shares of Common Stock with respect to which
Incentive Stock Options are exercisable for the first time by a Participant during
any calendar year under this Plan and any other stock option plan of the Company or
any of its Subsidiaries shall not exceed $100,000. Such Fair Market Value shall be
determined as of the date on which each such Incentive Stock Option is granted. In
the event that the aggregate Fair Market Value of shares of Common Stock with
respect to such Incentive Stock Options exceeds $100,000, then Incentive Stock
Options granted hereunder to such Participant shall, to the extent and in the order
required by regulations promulgated under the Code (or any other authority having
the force of regulations), automatically be deemed to be Non-Qualified Stock
Options, but all other terms and provisions of such Incentive Stock Options shall
remain unchanged. In the absence of such regulations (and authority), or in the
event such regulations (or authority) require or permit a designation of the Options
which shall cease to constitute Incentive Stock Options, Incentive Stock Options
granted hereunder shall, to the extent of such excess and in the order in which they
were granted, automatically be deemed to be Non-Qualified Stock Options, but all
other terms and provisions of such Incentive Stock Options shall remain unchanged.

     No Incentive Stock Option may be granted to an individual if, at the time of
the proposed grant, such individual owns stock possessing more than ten percent of
the total combined voting power of all classes of stock of the Company or any of its
Subsidiaries, unless (i) the exercise price of such Incentive Stock Option is at
least one hundred and ten percent of the Fair Market Value of a share of Common
Stock at the time such Incentive Stock Option is granted and (ii) such Incentive
Stock Option is not exercisable after the expiration of five years from the date
such Incentive Stock Option is granted.

     (ii) Stock Appreciation Rights. An Award may be in the form of an
SAR. On the Grant Date, the Grant Price of an SAR shall be not less than the Fair
Market Value of the Common Stock subject to such SAR. The holder of a tandem SAR
may elect to exercise either the Option or the SAR, but not both. The exercise
period for an SAR shall extend no more than ten years after the Grant Date. SARs
may not include provisions that “reload” the SAR upon exercise. Subject to the
foregoing provisions, the terms, conditions and limitations applicable to any SARs
awarded pursuant to this Plan, including the Grant Price, the term of any SARs and
the date or dates upon which they become exercisable, shall be determined by the
Committee.

     (iii) Stock Award. An Award may be in the form of a Stock Award.
The terms, conditions and limitations applicable to any Stock Award, including, but
not limited to, vesting or other restrictions, shall be determined by the Committee.

     (iv) Restricted Stock Unit Awards. An Award may be in the form of a
Restricted Stock Unit Award. The terms, conditions and limitations applicable to a
Restricted Stock Unit Award, including, but not limited to, the Restriction Period
and the right to dividend equivalents, shall be determined by the Committee.

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     (v) Performance Stock Unit Awards. An Award may be in the form of a
Performance Stock Unit Award. The terms, conditions and limitations applicable to
any Performance Stock Unit Award, including, but not limited to, vesting or other
restrictions, shall be determined by the Committee. Performance Stock Unit Awards
shall be in the form of a Non-Qualified Performance Award or a Qualified Performance
Award and shall have a minimum performance period of one year from the date of
grant.

     (vi) Cash Award. An Award may be in the form of a Cash Award. The
terms, conditions and limitations applicable to any Cash Awards pursuant to this
Plan, including, but not limited to, vesting or other restrictions, shall be
determined by the Committee.

     (vii) Performance Award. Without limiting the type or number of
Awards that may be made under the other provisions of this Plan, an Award described
above that is granted to an Employee may also be in the form of a Performance Award.
The terms, conditions and limitations applicable to an Award that is a Performance
Award shall be determined by the Committee. The Committee shall set performance
goals in its discretion which, depending on the extent to which they are met, will
determine the value and/or amount of Performance Awards that will be paid and/or the
portion that may be exercised.

     (A) Non-Qualified Performance Awards. Performance Awards granted to
Employees that are not intended to qualify as qualified performance-based
compensation under Section 162(m) of the Code shall be based on achievement
of such goals and be subject to such terms, conditions and restrictions as
the Committee shall determine.

     (B) Qualified Performance Awards. Performance Awards granted to
Employees under this Plan that are intended to qualify as qualified
performance-based compensation under Section 162(m) of the Code shall be
paid, vest or otherwise deliverable solely on account of the attainment of
one or more pre-established, objective Performance Goals established by the
Committee prior to the earlier to occur of (x) 90 days after the
commencement of the period of service to which the Performance Goal relates
or (y) the lapse of 25% of the period of service (as scheduled in good faith
at the time the goal is established), and in any event while the outcome is
substantially uncertain. A Performance Goal is objective if a third party
having knowledge of the relevant facts could determine whether the goal is
met. Such a Performance Goal may be based on one or more business criteria
that apply to the Employee, one or more business segments, units, or
divisions of the Company, or the Company as a whole, and if so desired by
the Committee, by comparison with a peer group of companies. A Performance
Goal may include one or more of the following:

	 	•	 	Cash flow measures (including but not limited to before
or after tax cash flow, cash flow per share, cash flow
return on capital, net cash flow or attainment of working
capital levels);

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	 	•	 	Expense measures (including but not limited to overhead
cost, research and development expense, general and
administrative expense and improvement in or attainment of
expense levels);
	 
	 	•	 	Income measures (including but not limited to net income
and income before or after taxes);
	 
	 	•	 	Operating measures (including operating income, funds
from operations, cash from operations, after-tax operating
income, net operating profit after tax, operating
efficiency, production volumes and production efficiency);
	 
	 	•	 	Return measures (including but not limited to return on
capital employed, return on equity, return on investment and
return on assets);
	 
	 	•	 	Stock price measures (including but not limited to price
per share, growth measures and total stockholder return);
	 
	 	•	 	Earnings per share (actual or targeted growth);
	 
	 	•	 	Earnings before interest, taxes, depreciation, and
amortization (“EBITDA”);
	 
	 	•	 	Net earnings;
	 
	 	•	 	Market share;
	 
	 	•	 	Debt to equity ratio;
	 
	 	•	 	Debt reduction;
	 
	 	•	 	Acquisition of financings;
	 
	 	•	 	Economic value added (or an equivalent metric);
	 
	 	•	 	Cash available for distribution;
	 
	 	•	 	Cash available for distribution per share;
	 
	 	•	 	Operating income;
	 
	 	•	 	Margins;
	 
	 	•	 	Implementing or completion of critical projects,
including a commercial production facility;
	 
	 	•	 	Obtaining regulatory approvals;
	 
	 	•	 	Satisfaction of offtake agreement requirements;
	 
	 	•	 	Revenue or sales;
	 
	 	•	 	Total market value;
	 
	 	•	 	Reliability;
	 
	 	•	 	Productivity;
	 
	 	•	 	Acquisition of feedstock; and
	 
	 	•	 	Corporate values measures (including but not limited to
diversity commitment, ethics compliance, environmental and
safety, product liability claims).

Unless otherwise stated, such a Performance Goal need not be based upon an
increase or positive result under a particular business criterion and could
include, for example, maintaining the status quo or limiting economic losses
(measured, in each case, by reference to specific business criteria). In
interpreting Plan provisions applicable to Performance Goals and Qualified
Performance Awards, it is the intent of this Plan to conform with the
standards of Section 162(m) of the Code and Treasury Regulation
§1.162-27(e)(2)(i), as to grants to those

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Employees whose compensation is, or is likely to be, subject to Section
162(m) of the Code, and the Committee in establishing such goals and
interpreting this Plan shall be guided by such provisions. Prior to the
payment of any compensation based on the achievement of Performance Goals,
the Committee must certify in writing that applicable Performance Goals and
any of the material terms thereof were, in fact, satisfied. Subject to the
foregoing provisions, the terms, conditions and limitations applicable to
any Qualified Performance Awards made pursuant to this Plan shall be
determined by the Committee.

     (b) Notwithstanding anything to the contrary contained in this Plan, no
Employee may be granted, during the term of this Plan, Awards consisting of, relating to, or
exercisable for more than 500,000 shares of Common Stock (this limitation being hereinafter
referred to as “Stock Based Awards Limitation”).

     9. Change in Control. The Committee may provide in an Award Agreement for
accelerated vesting and exercisability of any Award in connection with a Change in Control; this
provision does not limit the authority of the Board to provide for adjustments as described under
Section 15.

     10. Payment of Awards.

     (a) General. Payment of Awards may be made in the form of cash or Common
Stock, or a combination thereof, and may include such restrictions as the Committee shall
determine, including, but not limited to, in the case of Common Stock, restrictions on
transfer and forfeiture provisions. For an Award of Restricted Stock, the certificates
evidencing the shares of such Restricted Stock (to the extent that such shares are so
evidenced) shall contain appropriate legends and restrictions that describe the terms and
conditions of the restrictions applicable thereto. For an Award of Restricted Stock Units
or Performance Stock Units, the shares of Common Stock that may be issued at the end of the
Restriction Period shall be evidenced by book entry registration or in such other manner as
the Committee may determine.

     (b) Deferral. With the approval of the Committee, amounts payable in respect
of Awards may be deferred and paid either in the form of installments or as a lump-sum
payment; provided, however, that if deferral is permitted, such deferral shall be in
compliance with the requirements of Section 409A of the Code. The Committee may permit
selected Participants to elect to defer payments of some or all types of Awards in
accordance with procedures established by the Committee. Any deferred payment pursuant to
an Award, whether elected by the Participant or specified by the Award Agreement or the
terms of the Award or by the Committee, may be forfeited if and to the extent that the Award
Agreement or the terms of the Award so provide.

     (c) Dividends; Dividend Equivalents and Interest. Rights to dividends and
dividend equivalents shall not be extended to and made part of any Award. The Committee may
establish rules and procedures for the crediting of interest on deferred cash payments for
Awards.

     11. Option Exercise. The Grant Price shall be paid in full at the time of exercise
in cash or, if elected by the Participant, the Participant may purchase such shares by means of
tendering Common Stock or surrendering another Award, including Restricted Stock, valued at

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Fair Market Value on the date of exercise, or any combination thereof. The Committee shall
determine acceptable methods for Participants to tender Common Stock or other Awards. The
Committee may provide for procedures to permit the exercise or purchase of such Awards by use of
the proceeds to be received from the sale of Common Stock issuable pursuant to an Award (including
“cashless exercise”). Unless otherwise provided in the applicable Award Agreement, in the event
shares of Restricted Stock are tendered as consideration for the exercise of an Option, a number of
the shares issued upon the exercise of the Option, equal to the number of shares of Restricted
Stock used as consideration thereof, shall be subject to the same restrictions as the Restricted
Stock so submitted as well as any additional restrictions that may be imposed by the Committee.
The Committee may adopt additional rules and procedures regarding the exercise of Options from time
to time, provided that such rules and procedures are not inconsistent with the provisions of this
Section.

     12. Taxes. The Company or its designated third party administrator shall have the
right to deduct applicable taxes from any Award payment and withhold, at the time of delivery or
vesting of cash or shares of Common Stock under this Plan, an appropriate amount of cash or number
of shares of Common Stock or a combination thereof for payment of taxes or other amounts required
by law or to take such other action as may be necessary in the opinion of the Company to satisfy
all obligations for withholding of such taxes or other amounts. The Committee may also permit
withholding to be satisfied by the transfer to the Company of shares of Common Stock theretofore
owned by the holder of the Award with respect to which withholding is required. If shares of
Common Stock are used to satisfy tax withholding, such shares shall be valued based on the Fair
Market Value on the date the tax withholding is required to be made.

     13. Amendment, Modification, Suspension or Termination of this Plan. The Board may
amend, modify, suspend or terminate this Plan for the purpose of meeting or addressing any changes
in legal requirements or for any other purpose permitted by law, except that (i) no amendment or
alteration that would adversely affect the rights of any Participant under any Award previously
granted to such Participant shall be made without the consent of such Participant and (ii) no
amendment or alteration shall be effective prior to its approval by the stockholders of the Company
to the extent such approval is required by applicable legal requirements or the requirements of the
securities exchange on which the Common Stock is listed.

     14. Assignability. Except as otherwise provided herein, no Award granted under this
Plan shall be sold, transferred, pledged, assigned or otherwise alienated or hypothecated by a
Participant other than by will or the laws of descent and distribution, and during the lifetime of
a Participant, any Award shall be exercisable only by the Participant, or, in the case of a
Participant who is mentally incapacitated, the Award shall be exercisable by the Participant’s
guardian or legal representative. The Committee may prescribe and include in applicable Award
Agreements other restrictions on transfer. Any attempted assignment or transfer in violation of
this Section 14 shall be null and void. Upon the Participant’s death, the personal representative
or other person entitled to succeed to the rights of the Participant (the “Successor Participant”)
may exercise such rights. A Successor Participant must furnish proof satisfactory to the Company
of his or her right to exercise the Award under the Participant’s will or under the applicable laws
of descent and distribution.

     Notwithstanding any provision of this Plan to the contrary, the Committee may permit transfers
of Non-Qualified Stock Options, SARs, Stock Awards, Restricted Stock Unit Awards or Cash Awards to
Family Members (including, without limitation, transfers as a result of a

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domestic relations order which has been approved as to form by the Committee) subject to such terms
and conditions as the Committee shall determine. “Family Members” means as to a Participant, any
(i) child, stepchild, grandchild, parent, stepparent, grandparent, spouse, mother-in-law,
father-in-law, son-in-law or daughter-in-law (including adoptive relationships), (ii) trusts for
the exclusive benefit of one or more such persons and/or the Participant and (iii) other entity
owned solely by one or more such persons and/or the Participant.

     15. Adjustments.

     (a) The existence of outstanding Awards shall not affect in any manner the
right or power of the Company or its stockholders to make or authorize any or all
adjustments, recapitalizations, reorganizations or other changes in the capital stock of the
Company or its business or any merger or consolidation of the Company, or any issue of
bonds, debentures, preferred or prior preference stock (whether or not such issue is prior
to, on a parity with or junior to the existing Common Stock) or the dissolution or
liquidation of the Company, or any sale or transfer of all or any part of its assets or
business, or any other corporate act or proceeding of any kind, whether or not of a
character similar to that of the acts or proceedings enumerated above.

     (b) In the event of any subdivision or consolidation of outstanding shares of
Common Stock, declaration of a dividend payable in shares of Common Stock or other stock
split, then (i) the number of shares of Common Stock reserved under this Plan, (ii) the
number of shares of Common Stock covered by outstanding Awards in the form of Common Stock
or units denominated in Common Stock, (iii) the Grant Price or other price in respect of
such Awards, (iv) the appropriate Fair Market Value and other price determinations for such
Awards, and (v) the Stock Based Awards Limitation shall each be proportionately adjusted by
the Board as appropriate to reflect such transaction. In the event of any other
recapitalization or capital reorganization of the Company, any consolidation or merger of
the Company with another corporation or entity, the adoption by the Company of any plan of
exchange affecting Common Stock or any distribution to holders of Common Stock of securities
or property (other than normal cash dividends or dividends payable in Common Stock), the
Board shall make appropriate adjustments to (i) the number of shares of Common Stock covered
by Awards in the form of Common Stock or units denominated in Common Stock, (ii) the Grant
Price or other price in respect of such Awards, (iii) the appropriate Fair Market Value and
other price determinations for such Awards, and (iv) the Stock Based Awards Limitation to
reflect such transaction; provided that such adjustments shall only be such as are necessary
to maintain the proportionate interest of the holders of the Awards and preserve, without
increasing, the value of such Awards.

     (c) In the event of a corporate merger, consolidation, acquisition of
property or stock, separation, reorganization or liquidation, the Board may make such
adjustments to Awards or other provisions for the disposition of Awards as it deems
equitable, and shall be authorized, in its discretion, (i) to provide for the substitution
of a new Award or other arrangement (which, if applicable, may be exercisable for such
property or stock as the Board determines) for an Award or the assumption of the Award,
regardless of whether in a transaction to which Section 424(a) of the Code applies, (ii) to
provide, prior to the transaction, for the acceleration of the vesting and exercisability
of, or lapse of restrictions with respect to, the Award and, if the transaction is a cash
merger, provide for the termination of any portion of the Award that remains unexercised at
the time of such transaction, or (iii) to cancel any such Awards and to

-12-

 

deliver to the Participants cash in an amount that the Board shall determine in its
sole discretion is equal to the fair market value of such Awards on the date of such event,
which in the case of Options or SARs shall be the excess of the Fair Market Value of Common
Stock on such date over the Grant Price of such Award.

     (d) No adjustment or substitution pursuant to this Section 15 shall be made
in a manner that results in noncompliance with the requirements of Section 409A of the Code,
to the extent applicable.

     16. Restrictions. No Common Stock or other form of payment shall be issued with
respect to any Award unless the Company shall be satisfied based on the advice of its counsel that
such issuance will be in compliance with applicable federal and state securities laws.
Certificates evidencing shares of Common Stock delivered under this Plan (to the extent that such
shares are so evidenced) may be subject to such stop transfer orders and other restrictions as the
Committee may deem advisable under the rules, regulations and other requirements of the Securities
and Exchange Commission, any securities exchange or transaction reporting system upon which the
Common Stock is then listed or to which it is admitted for quotation and any applicable federal or
state securities law. The Committee may cause a legend or legends to be placed upon such
certificates (if any) to make appropriate reference to such restrictions.

     17. Unfunded Plan. This Plan shall be unfunded. Although bookkeeping accounts may
be established with respect to Participants who are entitled to cash, Common Stock or rights
thereto under this Plan, any such accounts shall be used merely as a bookkeeping convenience. The
Company shall not be required to segregate any assets that may at any time be represented by cash,
Common Stock or rights thereto, nor shall this Plan be construed as providing for such segregation,
nor shall the Company, the Board or the Committee be deemed to be a trustee of any cash, Common
Stock or rights thereto to be granted under this Plan. Any liability or obligation of the Company
to any Participant with respect to an Award of cash, Common Stock or rights thereto under this Plan
shall be based solely upon any contractual obligations that may be created by this Plan and any
Award Agreement, and no such liability or obligation of the Company shall be deemed to be secured
by any pledge or other encumbrance on any property of the Company. None of the Company, the Board
and the Committee shall be required to give any security or bond for the performance of any
obligation that may be created by this Plan.

     18. Section 409A of the Code. The Awards are intended to comply with or be exempt
from Section 409A of the Code and the provisions of the Award Agreement will be construed
accordingly. If a provision of an Award would result in the imposition of an applicable tax under
Section 409A of the Code, such provision shall be reformed to avoid imposition of the applicable
tax if permissible and no such action taken to comply with Section 409A of the Code shall be deemed
to adversely affect the rights or benefits under such Award.

     If an Award is intended to comply with Section 409A of the Code, all payments to be made upon
a termination of employment under such Award may only be made upon a “separation from service” (as
defined in Section 409A of the Code). For purposes of Section 409A of the Code, each payment under
an Award is treated as a separate payment for purposes of applying Section 409A of the Code. In no
event may the Participant, directly or indirectly, designate the calendar year of payment.

-13-

 

     If the Participant is deemed to be a “specified employee” as of the date of his or her
“separation from service” (each as defined in Section 409A of the Code) as determined by the
Company, the payment of any amount under an Award on account of separation from service that is
deferred compensation subject to Section 409A of the Code and not otherwise exempt from Section
409A of the Code, shall not be paid before the earliest of (i) the first business day that is at
least six months after the date of the Participant’s separation from service, (ii) the date of the
Participant’s death, or (iii) the date that otherwise complies with the requirements of Section
409A of the Code. This provision shall be applied by accumulating all payments that otherwise would
have been paid within six months of the Participant’s separation from service and paying such
accumulated amounts, without interest, at the earliest date as described in the preceding sentence
and any remaining payments due under such Award shall be paid or provided in accordance with the
normal payment dates specified therein.

     19. Parachute Payment Limitation. Notwithstanding any contrary provision of this
Plan, the Committee may provide in an Award Agreement or in any other agreement with the
Participant for a limitation on the acceleration of vesting and exercisability of unmatured Awards
to the extent necessary to avoid or mitigate the impact of the golden parachute excise tax under
Section 4999 of the Code on the Participant or may provide for a supplemental payment to be made to
the Participant as necessary to offset or mitigate the impact of the golden parachute excise tax on
the Participant. In the event the Award Agreement or other agreement with the Participant does not
contain any contrary provision regarding the method of avoiding or mitigating the impact of the
golden parachute excise tax under Section 4999 of the Code on the Participant, then notwithstanding
any contrary provision of this Plan, the aggregate present value of all parachute payments payable
to or for the benefit of a Participant, whether payable pursuant to this Plan or otherwise, shall
be limited to three times the Participant’s base amount less one dollar and, to the extent
necessary, the exercisability of an unmatured Award shall be reduced in order that this limitation
not be exceeded, with the order of reduction applied first against the Award with the latest
vesting date and continuing, as necessary, to those Awards with earlier vesting dates. For
purposes of this Section 19, the terms “parachute payment,” “base amount” and “present value” shall
have the meanings assigned thereto under Section 280G of the Code. It is the intention of this
Section 19 to avoid excise taxes on the Participant under Section 4999 of the Code or the
disallowance of a deduction to the Company pursuant to Section 280G of the Code.

     20. Right to Employment. Nothing in this Plan or an Award Agreement shall interfere
with or limit in any way the right of the Company or a Subsidiary to terminate any Participant’s
employment or other service relationship at any time, nor confer upon any Participant any right to
continue in the capacity in which he or she is employed or otherwise serves the Company or a
Subsidiary.

     21. Successors. All obligations of the Company under this Plan with respect to
Awards granted hereunder shall be binding on any successor to the Company, whether the existence of
such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise,
of all or substantially all of the business and/or assets of the Company.

     22. Governing Law. This Plan and all determinations made and actions taken pursuant
hereto, to the extent not otherwise governed by mandatory provisions of the Code or the securities
laws of the United States, shall be governed by and construed in accordance with the laws of the
State of Texas.

-14-exv10w8

Exhibit 10.8

INDEMNIFICATION AGREEMENT

     THIS INDEMNIFICATION AGREEMENT (the “Agreement”) is made and entered into as of
_________________, by and among Kior, Inc., a Delaware corporation (the “Company”), and
_______________ (“Indemnitee”).

     WHEREAS, highly competent persons have become more reluctant to serve publicly held
corporations as directors or in other capacities unless they are provided with adequate protection
through insurance or adequate indemnification against inordinate risks of claims and actions
against them arising out of their service to and activities on behalf of the corporation;

     WHEREAS, the Board of Directors of the Company (the “Board”) has determined that, directors,
officers, and other persons in service to corporations or business enterprises are being
increasingly subjected to expensive and time-consuming litigation relating to, among other things,
matters that traditionally would have been brought only against the Company or business enterprise
itself. The Bylaws of the Company require indemnification of the directors of the Company.
Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the
State of Delaware (“DGCL”). The Bylaws and the DGCL expressly provide that the indemnification
provisions set forth therein are not exclusive, and thereby contemplate that contracts may be
entered into between the Company and members of the board of directors, officers and other persons
with respect to indemnification;

     WHEREAS, the uncertainties relating to indemnification have increased the difficulty of
attracting and retaining such persons;

     WHEREAS, the Board has determined that the increased difficulty in attracting and retaining
such persons is detrimental to the best interests of the Company’s stockholders and that the
Company should act to assure such persons that there will be increased certainty of such protection
in the future;

     WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate
itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent
permitted by applicable law so that they will serve or continue to serve the Company free from
undue concern that they will not be so indemnified;

     WHEREAS, this Agreement is a supplement to and in furtherance of the Bylaws of the Company and
any resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to
diminish or abrogate any rights of Indemnitee thereunder; and

     WHEREAS, Indemnitee does not regard the protection available under the Company’s Bylaws as
adequate in the present circumstances, and may not be willing to serve as a director, officer or
employee without adequate protection, and the Company desires Indemnitee to serve in such capacity.
Indemnitee is willing to serve, continue to serve and to take on additional service for or on
behalf of the Company on the condition that he be so indemnified;

     NOW, THEREFORE, in consideration of Indemnitee’s agreement to serve as a director, officer or
employee of the Company, the parties hereto agree as follows:

1

 

     1. Indemnity of Indemnitee. The Company hereby agrees to hold harmless and indemnify,
and advance Expenses (as hereinafter defined), to Indemnitee as provided in this Agreement and to
the fullest extent permitted by applicable law in effect on the date hereof and to such greater
extent as applicable law may thereafter from time to time permit. In furtherance of the foregoing
indemnification, and without limiting the generality thereof.

          (a) Proceedings Other Than Proceedings by or in the Right of the Company. Indemnitee
shall be entitled to the rights of indemnification provided in this Section l(a) if, by
reason of his Corporate Status (as hereinafter defined), Indemnitee is, or is threatened to be
made, a party to or participant in any Proceeding (as hereinafter defined) other than a Proceeding
by or in the right of the Company. Pursuant to this Section 1(a), Indemnitee shall be
indemnified against all Expenses, judgments, penalties, fines and amounts paid in settlement
actually and reasonably incurred by him, or on his behalf, in connection with such Proceeding or
any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in or not opposed to the best interests of the Company, and with respect
to any criminal Proceeding, had no reasonable cause to believe Indemnitee’s conduct was unlawful.

          (b) Proceedings by or in the Right of the Company. Indemnitee shall be entitled to
the rights of indemnification provided in this Section 1(b) if, by reason of his Corporate
Status, Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding
brought by or in the right of the Company. Pursuant to this Section 1(b), Indemnitee shall
be indemnified against all Expenses actually and reasonably incurred by Indemnitee, or on
Indemnitee’s behalf, in connection with such Proceeding if the Indemnitee acted in good faith and
in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the
Company; provided, however, if applicable law so provides, no indemnification against such Expenses
shall be made in respect of any claim, issue or matter in such Proceeding as to which Indemnitee
shall have been adjudged to be liable to the Company unless and to the extent that the Court of
Chancery of the State of Delaware, or the court in which such Proceeding shall have been brought or
is pending, shall determine that such indemnification may be made.

          (c) Indemnification for Expenses of a Party Who is Wholly or Partly Successful.
Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason
of his Corporate Status, a party to and is successful, on the merits or otherwise, in any
Proceeding, he shall be indemnified to the maximum extent permitted by law, as such may be amended
from time to time, against all Expenses actually and reasonably incurred by him or on his behalf in
connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful,
on the merits or otherwise, as to one or more but less than all claims, issues or matters in such
Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably
incurred by him or on his behalf in connection with each successfully resolved claim, issue or
matter. For purposes of this Section and without limitation, the termination of any claim, issue
or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a
successful result as to such claim, issue or matter.

     2. Additional Indemnity. In addition to, and without regard to any limitations on,
the indemnification provided for in Section 1 of this Agreement, the Company shall and
hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties,
fines and amounts paid in settlement actually and reasonably incurred by him or on his behalf if,
by reason of his Corporate Status, he is, or is threatened to be made, a party to or

2

 

participant in any Proceeding (including a Proceeding by or in the right of the Company),
including, without limitation, all liability arising out of the negligence or active or passive
wrongdoing of Indemnitee. The only limitation that shall exist upon the Company’s obligations
pursuant to this Agreement shall be that the Company shall not be obligated to make any payment to
Indemnitee that is finally determined (under the procedures, and subject to the presumptions, set
forth in Sections 5 and 6 hereof) to be unlawful.

          (a) Whether or not the indemnification provided in Sections 1 and 2 hereof is
available, in respect of any threatened, pending or completed action, suit or proceeding in which
the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or
proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or
settlement of such action, suit or proceeding without requiring Indemnitee to contribute to such
payment and the Company hereby waives and relinquishes any right of contribution it may have
against Indemnitee. The Company shall not enter into any settlement of any action, suit or
proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such
action, suit or proceeding) unless such settlement provides for a full and final release of all
claims asserted against Indemnitee.

          (b) Without diminishing or impairing the obligations of the Company set forth in the preceding
subparagraph, if, for any reason, Indemnitee shall elect or be required to pay all or any portion
of any judgment or settlement in any threatened, pending or completed action, suit or proceeding in
which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or
proceeding), the Company shall contribute to the amount of expenses (including attorneys’ fees),
judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or
payable by Indemnitee in proportion to the relative benefits received by the Company and all
officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with
Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and
Indemnitee, on the other hand, from the transaction from which such action, suit or proceeding
arose; provided, however, that the proportion determined on the basis of relative benefit may, to
the extent necessary to conform to law, be further adjusted by reference to the relative fault of
the Company and all officers, directors or employees of the Company other than Indemnitee who are
jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the
one hand, and Indemnitee, on the other hand, in connection with the events that resulted in such
expenses, judgments, fines or settlement amounts, as well as any other equitable considerations
which the Law may require to be considered. The relative fault of the Company and all officers,
directors or employees of the Company, other than Indemnitee, who are jointly liable with
Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and
Indemnitee, on the other hand, shall be determined by reference to, among other things, the degree
to which their actions were motivated by intent to gain personal profit or advantage, the degree to
which their liability is primary or secondary and the degree to which their conduct is active or
passive.

          (c) The Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims
of contribution which may be brought by officers, directors or employees of the Company, other than
Indemnitee, who may be jointly liable with Indemnitee.

          (d) To the fullest extent permissible under applicable law, if the indemnification provided
for in this Agreement is unavailable to Indemnitee for any reason

3

 

whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount
incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to
be paid in settlement and/or for Expenses, in connection with any claim relating to an
indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in
light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits
received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving
cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors,
officers, employees and agents) and Indemnitee in connection with such event(s) and/or
transaction(s).

     3. Indemnification for Expenses of a Witness. Notwithstanding any other provision of
this Agreement, to the extent that Indemnitee is, by reason of his Corporate Status, a witness in
any Proceeding, he shall be indemnified against all Expenses actually and reasonably incurred by
him or on his behalf in connection therewith.

     4. Advancement of Expenses. Notwithstanding any other provision of this Agreement,
the Company shall advance all Expenses incurred by or on behalf of Indemnitee in connection with
any Proceeding by reason of Indemnitee’s Corporate Status within thirty (30) days after the receipt
by the Company of a statement or statements from Indemnitee requesting such advance or advances
from time to time, whether prior to or after final disposition of such Proceeding. Such statement
or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be
preceded or accompanied by an undertaking by or on behalf of Indemnitee to repay any Expenses
advanced if it shall ultimately be determined that Indemnitee is not entitled to be indemnified
against such Expenses. Any advances and undertakings to repay pursuant to this Section 4
shall be unsecured and interest free.

     5. Procedures and Presumptions for Determination of Entitlement to Indemnification.
It is the intent of this Agreement to secure for Indemnitee rights of indemnity that are as
favorable as may be permitted under the DGCL and public policy of the State of Delaware.
Accordingly, the parties agree that the following procedures and presumptions shall apply in the
event of any question as to whether Indemnitee is entitled to indemnification under this Agreement:

          (a) To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a
written request, including therein or therewith such documentation and information as is reasonably
available to Indemnitee and is reasonably necessary to determine whether and to what extent
Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon
receipt of such a request for indemnification, advise the Board of Directors in writing that
Indemnitee has requested indemnification.

          (b) Upon written request by Indemnitee for indemnification pursuant to the first sentence of
Section 5(a) hereof, a determination, if required by applicable law, with respect to
Indemnitee’s entitlement thereto shall be made in the specific case: (i) if a Change in Control (as
hereinafter defined) shall have occurred, by Independent Counsel (as hereinafter defined) (unless
Indemnitee shall request that such determination be made by the Board of Directors or the
stockholders, in which case by the person or persons or in the manner provided for in clause (ii)
of this Section 5(b)) in a written opinion to the Board of Directors, a copy of which shall
be delivered to Indemnitee; (ii) if a Change in Control shall not have occurred, (A) by a majority
vote of the Disinterested Directors (as defined below), even though less than a quorum, by a
committee of Disinterested Directors designated by a majority vote of the

4

 

Disinterested Directors, even though less than a quorum, (B) if there are no Disinterested
Directors or if the Disinterested Directors so direct, by Independent Counsel (as defined below) in
a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee, or
(C) if so directed by Disinterested Directors, or if there are no Disinterested Directors, the
Board of Directors, by the stockholders of the Company.

          (c) If the determination of entitlement to indemnification is to be made by Independent
Counsel pursuant to Section 5(b) hereof, the Independent Counsel shall be selected as
provided in this Section 5(c). If a Change in Control shall not have occurred, the
Independent Counsel shall be selected by the Board of Directors, and the Company shall give written
notice to Indemnitee advising Indemnitee of the identity of the Independent Counsel so selected.
If a Change in Control shall have occurred, the Independent Counsel shall be selected by Indemnitee
(unless Indemnitee shall request that such selection be made by the Board of Directors, in which
event the preceding sentence shall apply), and Indemnitee shall give written notice to the Company
advising it of the identity of the Independent Counsel so selected. In either event, Indemnitee or
the Company, as the case may be, may, within 10 days after such written notice of selection shall
have been given, deliver to the Company or to Indemnitee, as the case may be, a written objection
to such selection; provided, however, that such objection may be asserted only on the ground that
the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as
defined in Section 12(f) of this Agreement, and the objection shall set forth with
particularity the factual basis of such assertion. Absent a proper and timely objection, the
person so selected shall act as Independent Counsel. If a written objection is made and
substantiated, the Independent Counsel selected may not serve as Independent Counsel unless and
until such objection is withdrawn or a court has determined that such objection is without merit.
If, within 20 days after submission by Indemnitee of a written request for indemnification pursuant
to Section 5(a) hereof, no Independent Counsel shall have been selected and not objected
to, either the Company or Indemnitee may petition the Court of Chancery of the State of Delaware or
other court of competent jurisdiction for resolution of any objection which shall have been made by
Indemnitee to the Company’s selection of Independent Counsel and/or for the appointment as
Independent Counsel of a person selected by the court or by such other person as the court shall
designate, and the person with respect to whom all objections are so resolved or the person so
appointed shall act as Independent Counsel under Section 5(b) hereof. The Company shall
pay any and all reasonable fees and expenses of Independent Counsel incurred by such Independent
Counsel in connection with acting pursuant to Section 5(b) hereof, and the Company shall
pay all reasonable fees and expenses incident to the procedures of this Section 5(c),
regardless of the manner in which such Independent Counsel was selected or appointed.

          (d) In making a determination with respect to entitlement to indemnification hereunder, the
person or persons or entity making such determination shall presume that Indemnitee is entitled to
indemnification under this Agreement. Anyone seeking to overcome this presumption shall have the
burden of proof and the burden of persuasion by clear and convincing evidence. Neither the failure
of the Company (including by its directors or independent legal counsel) to have made a
determination prior to the commencement of any action pursuant to this Agreement that
indemnification is proper in the circumstances because Indemnitee has met the applicable standard
of conduct, nor an actual determination by the Company (including by its directors or independent
legal counsel) that Indemnitee has not met

5

 

such applicable standard of conduct, shall be a defense to the action or create a presumption
that Indemnitee has not met the applicable standard of conduct.

          (e) Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on
the records or books of account of the Enterprise, including financial statements, or on
information supplied to Indemnitee by the officers of the Enterprise (as hereinafter defined) in
the course of their duties, or on the advice of legal counsel for the Enterprise or on information
or records given or reports made to the Enterprise by an independent certified public accountant or
by an appraiser or other expert selected with reasonable care by the Enterprise. In addition, the
knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the
Enterprise shall not be imputed to Indemnitee for purposes of determining the right to
indemnification under this Agreement. Whether or not the foregoing provisions of this Section
5(e) are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in
good faith and in a manner he reasonably believed to be in or not opposed to the best interests of
the Company. Anyone seeking to overcome this presumption shall have the burden of proof and the
burden of persuasion by clear and convincing evidence.

          (f) If the person, persons or entity empowered or selected under this Section 5 to
determine whether Indemnitee is entitled to indemnification shall not have made a determination
within sixty (60) days after receipt by the Company of the request therefor, the requisite
determination of entitlement to indemnification shall be deemed to have been made and Indemnitee
shall be entitled to such indemnification absent (i) a misstatement by Indemnitee of a material
fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially
misleading, in connection with the request for indemnification, or (ii) a prohibition of such
indemnification under applicable law; provided, however, that such 60-day period may be extended
for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or
entity making such determination with respect to entitlement to indemnification in good faith
requires such additional time to obtain or evaluate documentation and/or information relating
thereto; and provided, further, that the foregoing provisions of this Section 5(f) shall
not apply if the determination of entitlement to indemnification is to be made by the stockholders
pursuant to Section 5(b) of this Agreement and if (A) within fifteen (15) days after
receipt by the Company of the request for such determination, the Board of Directors or the
Disinterested Directors, if appropriate, resolve to submit such determination to the stockholders
for their consideration at an annual meeting thereof to be held within seventy-five (75) days after
such receipt and such determination is made thereat, or (B) a special meeting of stockholders is
called within fifteen (15) days after such receipt for the purpose of making such determination,
such meeting is held for such purpose within sixty (60) days after having been so called and such
determination is made thereat.

          (g) Indemnitee shall cooperate with the person, persons or entity making such determination
with respect to Indemnitee’s entitlement to indemnification, including providing to such person,
persons or entity upon reasonable advance request any documentation or information which is not
privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee
and reasonably necessary to such determination. Any Independent Counsel, member of the Board of
Directors or stockholder of the Company shall act reasonably and in good faith in making a
determination regarding Indemnitee’s entitlement to indemnification under this Agreement. Any
costs or expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so
cooperating with the person, persons or entity making such determination shall be borne by the
Company (irrespective of the

6

 

determination as to Indemnitee’s entitlement to indemnification) and the Company hereby
indemnifies and agrees to hold Indemnitee harmless therefrom.

          (h) The Company acknowledges that a settlement or other disposition short of final judgment
may be successful if it permits a party to avoid expense, delay, distraction, disruption and
uncertainty. In the event that any action, claim or proceeding to which Indemnitee is a party is
resolved in any manner other than by adverse judgment against Indemnitee (including, without
limitation, settlement of such action, claim or proceeding with or without payment of money or
other consideration) it shall be presumed that Indemnitee has been successful on the merits or
otherwise in such action, suit or proceeding. Anyone seeking to overcome this presumption shall
have the burden of proof and the burden of persuasion by clear and convincing evidence.

          (i) The termination of any Proceeding or of any claim, issue or matter therein, by judgment,
order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not
(except as otherwise expressly provided in this Agreement) of itself adversely affect the right of
Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and
in a manner which he reasonably believed to be in or not opposed to the best interests of the
Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to
believe that his conduct was unlawful.

     6. Remedies of Indemnitee.

          (a) In the event that (i) a determination is made pursuant to Section 5 of this
Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement
of Expenses is not timely made pursuant to Section 4 of this Agreement, (iii) no
determination of entitlement to indemnification is made pursuant to Section 5(b) of this
Agreement within 90 days after receipt by the Company of the request for indemnification, (iv)
payment of indemnification is not made pursuant to this Agreement within ten (10) days after
receipt by the Company of a written request therefor or (v) payment of indemnification is not made
within ten (10) days after a determination has been made that Indemnitee is entitled to
indemnification or such determination is deemed to have been made pursuant to Section 5 of
this Agreement, Indemnitee shall be entitled to an adjudication in an appropriate court of the
State of Delaware, or in any other court of competent jurisdiction, of Indemnitee’s entitlement to
such indemnification. Indemnitee shall commence such proceeding seeking an adjudication within 180
days following the date on which Indemnitee first has the right to commence such proceeding
pursuant to this Section 6(a). The Company shall not oppose Indemnitee’s right to seek any
such adjudication.

          (b) In the event that a determination shall have been made pursuant to Section 5(b) of
this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding
commenced pursuant to this Section 6 shall be conducted in all respects as a de novo trial
on the merits, and Indemnitee shall not be prejudiced by reason of the adverse determination under
Section 5(b). If a Change in Control shall have occurred, in any judicial proceeding
commenced pursuant to this Section 6 the Company shall have the burden of proving that
Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be.

          (c) If a determination shall have been made pursuant to Section 5(b), or deemed to
have been made pursuant to Section 6(a) of this Agreement that Indemnitee is

7

 

entitled to indemnification, the Company shall be bound by such determination in any judicial
proceeding commenced pursuant to this Section 6, absent (i) a misstatement by Indemnitee of
a material fact, or an omission of a material fact necessary to make a statement by Indemnitee not
materially misleading in connection with the application for indemnification, or (ii) a prohibition
of such indemnification under applicable law.

          (d) In the event that Indemnitee, pursuant to this Section 6, seeks a judicial
adjudication of his rights under, or to recover damages for breach of, this Agreement, or to
recover under any directors’ and officers’ liability insurance policies maintained by the Company,
the Company shall pay on his behalf, in advance, any and all expenses (of the types described in
the definition of Expenses in Section 12 of this Agreement) actually and reasonably
incurred by him in such judicial adjudication, regardless of whether Indemnitee ultimately is
determined to be entitled to such indemnification, advancement of expenses or insurance recovery.

          (e) The Company shall be precluded from asserting in any judicial proceeding commenced
pursuant to this Section 6 that the procedures and presumptions of this Agreement are not
valid, binding and enforceable and shall stipulate in any such court that the Company is bound by
all the provisions of this Agreement. The Company shall indemnify Indemnitee against any and all
Expenses and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Company
of a written request therefore) advance, to the extent not prohibited by law, such expenses to
Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee
for indemnification or advance of Expenses from the Company under this Agreement or under any
directors’ and officers’ liability insurance policies maintained by the Company, regardless of
whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of
Expenses or insurance recovery, as the case may be.

          (f) Notwithstanding anything in this Agreement to the contrary, no determination as to
entitlement to indemnification under this Agreement shall be required to be made prior to the final
disposition of the Proceeding.

     7. Non-Exclusivity; Survival of Rights; Insurance; Subrogation.

          (a) The rights of indemnification and advancement of Expenses as provided by this Agreement
shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled
under applicable law, the certificate of incorporation of the Company, the Bylaws, any agreement, a
vote of stockholders, a resolution of directors or otherwise. No amendment, alteration or repeal
of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under
this Agreement in respect of any action taken or omitted by such Indemnitee in his Corporate Status
prior to such amendment, alteration or repeal. To the extent that a change in the DGCL, whether by
statute or judicial decision, permits greater indemnification than would be afforded currently
under the Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall
enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein
conferred is intended to be exclusive of any other right or remedy, and every other right and
remedy shall be cumulative and in addition to every other right and remedy given hereunder or now
or hereafter existing at law or in equity or otherwise. The assertion or employment of any right
or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any
other right or remedy.

8

 

          (b) To the extent that the Company maintains an insurance policy or policies providing
liability insurance for directors, officers, employees, or agents or fiduciaries of the Company or
of any other corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise that such person serves at the request of the Company, Indemnitee shall be covered by
such policy or policies in accordance with its or their terms to the maximum extent of the coverage
available for any director, officer, employee, agent or fiduciary under such policy or policies.
If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has
director and officer liability insurance in effect, the Company shall give prompt notice of the
commencement of such proceeding to the insurers in accordance with the procedures set forth in the
respective policies. The Company shall thereafter take all necessary or desirable action to cause
such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such proceeding
in accordance with the terms of such policies.

          (c) In the event of any payment under this Agreement, the Company shall be subrogated to the
extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers
required and take all action necessary to secure such rights, including execution of such documents
as are necessary to enable the Company to bring suit to enforce such rights.

          (d) The Company shall not be liable under this Agreement to make any payment of amounts
otherwise indemnifiable hereunder if and to the extent that Indemnitee has otherwise actually
received such payment under any insurance policy, contract, agreement or otherwise.

          (e) The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is
or was serving at the request of the Company as a director, officer, employee or agent of any other
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise shall be
reduced by any amount Indemnitee has actually received as indemnification or advancement of
expenses from such other corporation, partnership, joint venture, trust, employee benefit plan or
other enterprise.

     8. Exception to Right of Indemnification. Notwithstanding any provision in this
Agreement, the Company shall not be obligated under this Agreement to make any indemnity in
connection with any claim made against Indemnitee:

          (a) for which payment has actually been made to or on behalf of Indemnitee under any insurance
policy or other indemnity provision, except with respect to any excess beyond the amount paid under
any insurance policy or other indemnity provision; or

          (b) for an accounting of profits made from the purchase and sale (or sale and purchase) by
Indemnitee of securities of the Company within the meaning of Section 16(b) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), or similar provisions of state
statutory law or common law; or

          (c) in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee,
including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the
Company or its directors, officers, employees or other indemnitees, unless (i) the Board of
Directors of the Company authorized the Proceeding (or any part of any

9

 

Proceeding) prior to its initiation or (ii) the Company provides the indemnification, in its
sole discretion, pursuant to the powers vested in the Company under applicable law.

     9. Duration of Agreement. All agreements and obligations of the Company contained
herein shall continue for so long as Indemnitee may have any liability or potential liability by
virtue of serving as a director, officer or employee of the Company (or serving at the request of
the Company as a director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise) and shall continue thereafter so long as Indemnitee shall be
subject to any Proceeding (or any proceeding commenced under Section 6 hereof) by reason of
his Corporate Status, whether or not he is acting or serving in any such capacity at the time any
liability or expense is incurred for which indemnification can be provided under this Agreement.
This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties
hereto and their respective successors (including any direct or indirect successor by purchase,
merger, consolidation or otherwise to all or substantially all of the business or assets of the
Company), assigns, spouses, heirs, executors and personal and legal representatives.

     10. Security. To the extent requested by Indemnitee and approved by the Board of
Directors of the Company, the Company may at any time and from time to time provide security to
Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit,
funded trust or other collateral. Any such security, once provided to Indemnitee, may not be
revoked or released without the prior written consent of Indemnitee.

     11. Enforcement.

          (a) The Company expressly confirms and agrees that it has entered into this Agreement and
assumes the obligations imposed on it hereby in order to induce Indemnitee to serve a director,
officer or employee of the Company, and the Company acknowledges that Indemnitee is relying upon
this Agreement in serving as a director, officer or employee of the Company.

          (b) This Agreement constitutes the entire agreement between the parties hereto with respect to
the subject matter hereof and supersedes all prior agreements and understandings, oral, written and
implied, between the parties hereto with respect to the subject matter hereof.

     12. Definitions. For purposes of this Agreement:

          (a) “Change in Control” means a change in control of the Company occurring after the date of
this Agreement of a nature that would be required to be reported in response to Item 6(e) of
Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form)
promulgated under the Exchange Act, whether or not the Company is then subject to such reporting
requirement; provided, however, that, without limitation, such a Change in Control shall be deemed
to have occurred if after the date of this Agreement (i) any “person” (as such term is used in
Section 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in
Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company
representing 20% or more of the combined voting power of the Company’s then outstanding securities
entitled to vote generally in the election of directors without the prior approval of at least
two-thirds of the members of the Board of Directors in

10

 

office immediately prior to such person attaining such percentage interest; (ii) the Company
is a party to a merger, consolidation, sale of assets or other reorganization, or a proxy contest,
as a consequence of which members of the Board of Directors in office immediately prior to such
transaction or event constitute less than a majority of the Board of Directors thereafter; or (iii)
during any period of two consecutive years, individuals who at the beginning of such period
constituted the Board of Directors (including for this purpose any new director whose election or
nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds
of the directors then still in office who were directors at the beginning of such period) cease for
any reason to constitute at least a majority of the Board of Directors.

          (b) “Corporate Status” describes the status of a person who is or was a director, officer,
employee, agent or fiduciary of the Company or of any other corporation, partnership, joint
venture, trust, employee benefit plan or other enterprise that such person is or was serving at the
express written request of the Company.

          (c) “Disinterested Director” means a director of the Company who is not and was not a party to
the Proceeding in respect of which indemnification is sought by Indemnitee.

          (d) “Enterprise” shall mean the Company and any other corporation, partnership, joint venture,
trust, employee benefit plan or other enterprise that Indemnitee is or was serving at the express
written request of the Company as a director, officer, employee, agent or fiduciary.

          (e) “Expenses” shall include all reasonable attorneys’ fees, retainers, court costs,
transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and
binding costs, telephone charges, postage, delivery service fees and all other disbursements or
expenses of the types customarily incurred in connection with prosecuting, defending, preparing to
prosecute or defend, investigating, participating, or being or preparing to be a witness in a
Proceeding. Expenses also shall include Expenses incurred in connection with any appeal resulting
from any Proceeding, including without limitation the premium, security for, and other costs
relating to any cost bond, supersede as bond, or other appeal bond or its equivalent. Expenses,
however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or
fines against Indemnitee.

          (f) “Independent Counsel” means a law firm, or a member of a law firm, that is experienced in
matters of corporation law and neither presently is, nor in the past five years has been, retained
to represent: (i) the Company or Indemnitee in any matter material to either such party (other
than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees
under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to
a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent
Counsel” shall not include any person who, under the applicable standards of professional conduct
then prevailing, would have a conflict of interest in representing either the Company or Indemnitee
in an action to determine Indemnitee’s rights under this Agreement. The Company agrees to pay the
reasonable fees of the Independent Counsel referred to above and to fully indemnify such counsel
against any and all Expenses, claims, liabilities and damages arising out of or relating to this
Agreement or its engagement pursuant hereto.

11

 

          (g) “Proceeding” includes any threatened, pending or completed action, suit, arbitration,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other
actual, threatened or completed proceeding, whether brought by or in the right of the Company or
otherwise and whether civil, criminal, administrative or investigative, in which Indemnitee was, is
or will be involved as a party or otherwise, by reason of the fact that Indemnitee is or was a
director of the Company, by reason of any action taken by him or of any inaction on his part while
acting a director of the Company, or by reason of the fact that he is or was serving at the request
of the Company as a director, officer, employee, agent or fiduciary of another corporation,
partnership, joint venture, trust or other Enterprise; in each case whether or not he is acting or
serving in any such capacity at the time any liability or expense is incurred for which
indemnification can be provided under this Agreement; including one pending on or before the date
of this Agreement, but excluding one initiated by an Indemnitee pursuant to Section 6 of
this Agreement to enforce his rights under this Agreement.

     13. Severability. The invalidity of unenforceability of any provision hereof shall in
no way affect the validity or enforceability of any other provision. Without limiting the
generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification
rights to the fullest extent permitted by applicable laws. In the event any provision hereof
conflicts with any applicable law, such provision shall be deemed modified, consistent with the
aforementioned intent, to the extent necessary to resolve such conflict.

     14. Modification and Waiver. No supplement, modification, termination or amendment of
this Agreement shall be binding unless executed in writing by both of the parties hereto. No
waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of
any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing
waiver.

     15. Notice by Indemnitee. Indemnitee agrees promptly to notify the Company in writing
upon being served with or otherwise receiving any summons, citation, subpoena, complaint,
indictment, information or other document relating to any Proceeding or matter which may be subject
to indemnification or advancement of Expenses covered hereunder. The failure to so notify the
Company shall not relieve the Company of any obligation which it may have to Indemnitee under this
Agreement or otherwise unless and only to the extent that such failure or delay materially
prejudices the Company.

     16. Notices. All notices and other communications given or made pursuant to this
Agreement shall be in writing and shall be deemed effectively given: (a) upon personal delivery to
the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during
normal business hours of the recipient, and if not so confirmed, then on the next business day, (c)
five (5) days after having been sent by registered or certified mail, return receipt requested,
postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt. All communications shall be
sent:

	 	(a)	 	To Indemnitee at the address set forth below
Indemnitee signature hereto.
	 
	 	(b)	 	To the Company at:

12

 

	 		 	13001 Bay Park Road

Pasadena, TX 77507

Attention: Chief Executive Officer

or to such other address as may have been furnished to Indemnitee by the Company or to the Company
by Indemnitee, as the case may be.

     17. Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same
Agreement. This Agreement may also be executed and delivered by facsimile signature and in two or
more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

     18. Headings. The headings of the paragraphs of this Agreement are inserted for
convenience only and shall not be deemed to constitute part of this Agreement or to affect the
construction thereof.

     19. Governing Law. This Agreement and the legal relations among the parties shall be
governed by, and construed and enforced in accordance with, the laws of the State of Delaware,
without regard to its conflict of laws rules. . The Company and Indemnitee hereby irrevocably and
unconditionally (i) agree that any action or proceeding arising out of or in connection with this
Agreement shall be brought only in the Chancery Court of the State of Delaware (the “Delaware
Court”), and not in any other state or federal court in the United States of America or any court
in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court
for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii)
waive any objection to the laying of venue of any such action or proceeding in the Delaware Court,
and (iv) waive, and agree not to plead or to make, any claim that any such action or proceeding
brought in the Delaware Court has been brought in an improper or inconvenient forum.

     20. Miscellaneous. Use of the masculine pronoun shall be deemed to include usage of
the feminine pronoun where appropriate.

13

 

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement on and as of the day and
year first above written.

	 	 	 	 	 
	 	COMPANY

KIOR, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	INDEMNITEE

 	 
	 	 	 
	 	Name:  	 	 
	 	Address:

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