Document:

License Agreement

 Exhibit 10.24 
 ***Text Omitted and Filed Separately 
 with the Securities and Exchange
Commission. 
 Confidential Treatment Requested 
 Under 17 C.F.R. Sections 200.80(b)(4) 
 and 230.406 

LICENSE AGREEMENT 
 This License Agreement (this “License Agreement” or “Agreement”), is dated as of this 7th day of December, 2011 (“Effective Date”), by and between
Genomatica, Inc., a Delaware corporation with principal offices located at 10520 Wateridge Circle, San Diego, California 92121 (hereinafter referred to as “Genomatica”), and Beta Renewables S.p.A., an Italian corporation with
principal offices located at Strada Ribrocca n. 11, 15057 Tortona (AL), Italy (hereinafter referred to as “Licensor”). 
 RECITALS: 
 WHEREAS, Genomatica possesses proprietary technology and
recombinant microorganisms to produce 1,4-butanediol (“BDO”); 
 WHEREAS, Licensor
possesses the proprietary PROESATM process, which converts
Biomass to cellulosic sugars; 
 WHEREAS, pursuant to the Joint Development Agreement (as hereinafter defined), Genomatica and
Licensor have evaluated the economic feasibility of a biological route for the manufacture of BDO using Biomass cellulosic sugars; 
 WHEREAS, Genomatica desires a license from Licensor to itself use, and to sublicense to others the right to use, the PROESATM Process Technology for the purpose of producing [...***...] (as hereinafter defined) containing sugars for use
in manufacturing BDO; 
 WHEREAS Licensor is willing to grant Genomatica a license subject to the terms and
conditions set forth herein below to use relevant Licensor Patent Rights and other Licensor Intellectual Property relating to the PROESATM Process Technology solely to produce BDO. 
 NOW THEREFORE, the Parties agree as follows: 
 ARTICLE 1 

DEFINITIONS 
 1.1. Defined Terms. Each term defined in the preamble and the Recitals to this License Agreement shall have the meaning set forth above whenever used herein. 

1.2. Definitions. In addition to the terms defined in the preamble and the Recitals of this License Agreement, the
following terms, whenever used herein, shall have the meanings set forth below: 
 1.2.1. “Affiliate” shall
mean, with respect to any specified Person, any other Person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under 
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common control with, such specified Person, and for this purpose, “control,” “controlled by” and “common control” shall mean the ownership and voting control of more
than 50% of the outstanding voting securities or interest in capital or profits of such specified Person, or the right to direct or control the management or affairs of such specified Person by contract or similar arrangement. Should a Person divest
an Affiliate or should an Affiliate cease to satisfy this definition, such Affiliate’s rights and obligations under this License Agreement shall be terminated, except for obligations under Article 9 (“Confidential Information”).

 1.2.2. “BDO Field” shall mean the biological manufacture of BDO from sugars produced from Biomass and the
marketing and the sale of BDO manufactured from sugars produced from Biomass, and includes research and development related to the foregoing. 
 1.2.3. “Biomass” shall mean any non-food agriculture plant (such as but not limited to poplar, eucalyptus and energy crops) and agricultural waste (such as but not limited to straw, corn
stover and sugar cane bagasse) that can be used as a renewable non-food feedstock for the production of sugars (which non-food feedstock excludes, without limitation, first generation food feedstocks of corn, wheat, sugar beets and sugar cane).

 1.2.4. “Bioprocess” shall mean a process using microorganisms for the production of BDO, and including the
downstream BDO purification steps. 
 1.2.5. “Basic Engineering Design” means a package of
engineering design information as specified under Schedule 1.2.5 to be prepared by Genomatica’s basic engineering CONTRACTOR in sufficient detail to enable Genomatica and/or CONTRACTOR to perform Detailed Engineering Design, equipment
procurement services and construction of the PROESATM
Plant. 
 1.2.6. “Confidential Information” shall mean any and all proprietary information and materials, in
any form (written, oral, photographic, electronic, magnetic, or otherwise), including without limitation, information related to technical, business, and intellectual property matters, intellectual property including know-how, data, trade secrets,
and all documents and other physical materials relating to prototypes, materials, compositions, devices, methods, or procedures related to the research and development, manufacture, use or sale of [...***...] or BDO. Confidential Information
of a Party under the Joint Development Agreement shall be treated as Confidential Information under this License Agreement. The Licensor Intellectual Property shall be Confidential Information of Licensor, and the Bioprocess, the Genomatica
Microorganisms and Genomatica Intellectual Property shall be Confidential Information of Genomatica. 

1.2.7. “CONTRACTOR” means Chemtex International Inc. or such other contractor reasonably acceptable
to Genomatica as may be designated by Licensor to supply services for Basic Engineering Design and supply of Critical Equipment and other services that might be required by Genomatica for the “inside battery limits” area of the
PROESATM Plant. 

1.2.8. “Critical Equipment” means equipment to be supplied by CONTRACTOR that are required to
implement the PROESATM Process Technology at a
PROESATM Plant, as listed under Schedule 1.2.8.

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 1.2.9. “Damages” shall have the meaning set forth in Article 11.1.

 1.2.10. “Detailed Engineering Design” means the complete engineering to be performed by
GENERAL CONTRACTOR as necessary to allow procurement, construction, commissioning and operation of the
PROESATM Plant. 

1.2.11. “Effective Date” shall have the meaning provided in the preamble of this Agreement. 

1.2.12. “FEEP” (Front End Engineering Package) means a package of process design and know-how
information contained in the document listed under Schedule 1.2.12, which is reasonably required to enable Genomatica and/or CONTRACTOR and/or GENERAL CONTRACTOR to prepare Basic Engineering Design and Detailed Engineering Design and to procure
materials and equipment and construction services in relation to the construction of the “inside battery limits” area of the PROESATM Plant. 
 1.2.13. “GENERAL CONTRACTOR” means Chemtex International Inc., or other engineering contractor(s) competent to carry out engineering design services for chemical plants in accordance with
good international industry practices, selected and employed by Genomatica following consultation with Licensor, to perform detailed engineering design services or engineering design and procurement services for the “outside battery
limits” area of the PROESATM Plant. 

1.2.14 “Genomatica Confidential Information” shall mean any Confidential Information of Genomatica. 

1.2.15. “Genomatica Intellectual Property” shall mean all Intellectual Property owned or licensed (with the right to
grant licenses or sublicenses) by Genomatica as of the Effective Date or during the term of this Agreement, which claims or covers all or part of a Bioprocess, including the components (including Genomatica Microorganisms) used in a Bioprocess.

 1.2.16. “Genomatica Microorganism(s)” shall mean microorganisms designated by Genomatica and identified in
Schedule 1.2.16. 
 1.2.17. “[...***...]” means the output product of the
[...***...] of the PROESATM Process Technology
produced from Biomass. 
 1.2.18. “Intellectual Property” shall mean all (a) Patent Rights,
(b) trademarks, service marks, domain names, trade dress, logos, trade names, and corporate names and registrations and applications for registration thereof, (c) copyrights and registrations and applications for registration thereof,
(d) computer software, data, and documentation, (e) trade secrets and confidential business information, whether patentable or unpatentable and whether or not reduced to practice, know-how, manufacturing and production processes and
techniques, research and development information, copyrightable works, financial, marketing and business data, pricing and cost information, business and marketing plans and customer and supplier lists and information, (f) other proprietary
rights relating to any of the foregoing, and (g) copies and tangible embodiments thereof. 
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 1.2.19. “Joint Development Agreement” means the Joint Development Agreement
between Genomatica and Licensor dated April 15, 2011, as may be amended in accordance with its terms. 
 1.2.20.
“Law” shall mean any federal, state, regional, local, or foreign law, constitution, rule, statute, ordinance, regulation, order, code, judgment, charge, writ, injunction, or decree. 

1.2.21. “License Fee(s)” has the meaning set forth in Article 4.1. 

1.2.22. “Licensor Confidential Information” shall mean any Confidential Information of Licensor. 

1.2.23. “Licensor Intellectual Property” shall mean all Intellectual Property owned or licensed
(with the right to grant licenses or sublicenses) by Licensor as of the Effective Date or during the term of this Agreement, which claims or covers all or part of the PROESATM Process Technology, including, but not limited to, those Patent Rights listed in Schedule 1.2.23. 

1.2.24. “NDA” shall mean the nondisclosure agreement dated 19 March 2010 between M&G Finanziaria S.r.l. and
Genomatica and covering also M&G Finanziaria affiliates. 
 1.2.25. “Operating Manual”
means a compilation of preliminary procedures for operating the PROESATM Plant, based on the FEEP and which shall include instructions for pre-commissioning, start-up, shutdown and handling of process emergencies, which, [...***...], is sufficient in detail for
Genomatica to develop final operating procedures following completion of the detailed design phase of the project. 
 1.2.26.
“Party” shall mean Genomatica or Licensor, as the case may be, and “Parties” shall mean Genomatica and Licensor. 
 1.2.27. “Patent Rights” shall mean any patent application, certificate of invention, application for certificate of invention, priority patent filing or patent granted (foreign or
domestic), including any and all divisionals, continuation (in whole or in part), request for continued examination, reissues, reexaminations, additions, substitution cases, confirmations, registrations, revalidations, revisions, renewals and
extensions thereof. 
 1.2.28. “Person” shall mean an individual or a corporation, partnership, limited
liability company, trust, incorporated or unincorporated association, joint venture, joint stock company, government (or an agency or political subdivision thereof) or other entity of any kind. 

1.2.29. “PROESATM Plant(s)” means the commercial manufacturing
facility(ies) of Genomatica or its sublicensee for producing [...***...] which is designed or operated using Licensor Intellectual Property licensed pursuant to this License Agreement. 

1.2.30. “PROESATM Process Technology” shall mean the process
configuration, operating parameters and conditions, the equipment set up and/or the equipment design to produce fermentable sugar or precursor of fermentable sugar from Biomass [...***...]. 

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 1.2.32. “Representatives” shall mean, with respect to any Person, the
directors, officers, employees, agents, Affiliates, or other representatives of such specified Person, including, without limitation, financial advisors, consultants, and counsel. 

1.2.33. “Royalties” has the meaning set forth in Article 4.1. 

1.2.34. “Start-Up Date” shall mean the date of first introduction of Biomass into the respective
PROESATM Plant for the purpose of producing
[...***...]. 
 1.2.35. “Territory” shall mean the world. 

1.2.36. “Third Party(ies)” shall mean any Person other than Genomatica and its Affiliates or Licensor and its
Affiliates. 
 ARTICLE 2 
 GRANT OF LICENSE 
 2.1 (i) Subject to payment by
Genomatica of the License Fees and Royalties specified in Article 4.1 and the other terms and conditions of this Agreement, Licensor hereby grants to Genomatica, as of the Effective Date, the right and license to use Licensor Intellectual Property
(including the FEEP) and to operate within the claims of Licensor’s Patent Rights, solely to design, procure, construct, operate and maintain the PROESATM Plants and to produce [...***...] at the PROESATM Plants for use in manufacturing BDO. The license granted herein is subject to Genomatica or its designee purchasing
the Critical Equipment from CONTRACTOR for each licensed PROESATM Plant. The license granted herein is non-transferable and non-assignable except as provided in Article 13.13, but does include the right to grant sub-licenses on terms consistent with the terms set out
herein. During the term of this Agreement, Licensor will not assert any Patent Rights licensed hereunder to prevent Genomatica or its sublicensees from selling, anywhere in the world, BDO manufactured using [...***...] produced in a
PROESATM Plant. The above described right and license is
exclusive in the BDO Field to the extent described in Article 2.2 hereof, but is otherwise non-exclusive. 
 (ii) No license or
right is granted under this Agreement by implication or otherwise with respect to any technical information, know-how, patent application or patent except as specifically set forth herein. 

(iii) Except as otherwise provided herein, no right, express or implied, is granted by this License Agreement to use
in any manner the name “Bio-BDO®,”
“PROESATM,” “Chemtex,” or
“Genomatica” or any other trademark, service mark, or trade name of the other Party in connection with the performance of this License Agreement. 
 (iv) Neither Party shall be required to grant any right with respect to any patent application or granted patent or furnish information as to which it will incur financial or other liability to a third
party, and no information shall be required to be furnished by either Party over governmental prohibition or objection. 

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 (v) Licensor shall periodically update the Patent Rights listed in
Schedule 1.2.23 to include any Patent Rights owned or licensed by Licensor during the term of this Agreement that claim or cover all or part of the PROESATM Process Technology. 
 2.2 Licensor agrees to license the PROESATM Process Technology for the production of [...***...] or any other sugars to be used in the production of BDO, and for the production of succinic acid to be converted into or otherwise used in the
production of BDO, exclusively to Genomatica. For clarity, (i) Licensor shall not (except in connection with its activities with Genomatica pursuant to this Agreement) collaborate with, license or otherwise grant any rights to any Affiliate or
Third Party to, use the PROESATM Process Technology to
produce [...***...] or any sugars to be used in the production of BDO, or succinic acid to be converted into or otherwise used in the production of BDO, and (ii) Licensor may freely license the PROESATM Process Technology for succinic acid production so long as it can
ensure that no BDO is produced from the resulting succinic acid. Furthermore, Licensor guarantees that, with respect to each country, Genomatica receives the [...***...] for the PROESATM Process Technology for bio-based chemical production from the resulting sugars, which shall be at least
[...***...]. At Genomatica’s request, Licensor will provide reasonable documentation showing compliance with the guarantee in the preceding sentence. Such exclusivity as described above will continue until March 31, 2014 or longer as
provided herein. If, by March 31, 2014, Genomatica (either directly or indirectly through a joint venture or other designee) or a sublicensee of Genomatica’s rights with respect to the PROESATM Process Technology, has started the construction of at least the
first industrial unit (with the capacity to produce more than [...***...] per year of BDO) combining
PROESATM Process Technology and the Bioprocess and paid
the first installment of the License Fee due in connection therewith, the exclusivity will continue without termination. If, on the contrary, Genomatica (either directly or indirectly through a joint venture or other designee) or a sublicensee of
Genomatica’s rights with respect to the PROESATM
Process Technology has not, by the end of March, 2014, started the construction of at least the first industrial unit (with the capacity to produce more than [...***...] per year of BDO) combining PROESATM Process Technology and the Bioprocess and paid the first installment
of the License Fee due in connection therewith, the exclusivity will terminate and the license shall become non-exclusive. The Parties agree that at that time they will negotiate in good faith the possibility to extend the exclusivity. During the
period of exclusivity, Genomatica agrees not to license from any Third Party any other Biomass pretreatment technology for use in the BDO Field. For the avoidance of doubt, it is understood that if the license becomes non-exclusive, Licensor will
then be allowed to out-license the PROESATM Process
Technology to succinic acid producers intending to convert succinic acid to BDO, and Genomatica will then be allowed to in-license other Biomass pretreatment technologies for use in the BDO Field for deployment by Genomatica or for subsequent
out-licensing. 
 ARTICLE 3 
 FEEP/OPERATING MANUAL 
 3.1 Licensor shall provide the
FEEP and the Operating Manual for each PROESATM Plant
licensed hereunder, at Licensor’s expense. The FEEP to be provided by Licensor shall contain all process design and know-how information which, [...***...], is reasonably required to enable Genomatica and/or CONTRACTOR to prepare basic
and detailed engineering designs and to procure materials and equipment and construction services in relation to construction of 

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the PROESATM Plant. The Operating Manual shall include instructions for pre-commissioning, start-up, shutdown and handling of process emergencies, which, in Licensor’s reasonable opinion, are sufficient in
detail for Genomatica to develop final operating procedures following completion of the Detailed Engineering Design phase of the project. 
 3.2 The units of measurement and codes and standards to be used in the FEEP and the Operating Manual shall be based on [...***...] standards. The English language shall be used in all sections of
the FEEP and the Operating Manual. 
 3.3 If shortages, errors, omissions or defects are found in the FEEP
or the Operating Manual due to the failure of Licensor to prepare the FEEP or the Operating Manual in accordance with the requirements of this Agreement, Licensor shall, subject to Articles 3.3 and 13.16 and as its sole liability resulting from or
in connection with the FEEP and the Operating Manual (but without limiting Licensor’s obligation to indemnify Genomatica for Third Party claims, actions, suits or proceedings under Article 11.2), make relevant modifications and supplements
at its own cost and shall make best efforts not to affect the overall program of the PROESATM Plant; provided, however, that if such shortage, error, omission or defect is the result of erroneous factual information provided to Licensor by Genomatica or not as the result of the failure of
Licensor to prepare the FEEP and the Operating Manual in accordance with the requirements of this Agreement, then Licensor will make such relevant modifications and supplements at Genomatica’s cost. If shortages, errors, omissions or defects
are found in the FEEP or the Operating Manual, then, provided Genomatica informs Licensor within [...***...] days of such shortages, errors, omissions or defects, the affected items shall not be deemed delivered for purposes of determining
Genomatica’s payment obligations under Article 5 (including, without limitation, any portion of the License Fee due on delivery of the FEEP or the Operating Manual) until relevant modifications and supplements thereto correcting such shortages,
errors, omissions or defects are made and delivered by Licensor to Genomatica. Failure to so inform Licensor of such shortages, errors, omissions or defects, shall not be deemed to be a waiver other than with respect to the due date of payment.

 ARTICLE 4 
 FEES 
 4.1 As consideration for the license granted by Licensor to
Genomatica under Article 2.1(i) (including the FEEP), Genomatica agrees to pay to Licensor for each PROESATM Plant a lump sum fee (the “License Fee”) based on the capacity of the PROESATM Plant and running royalties (“Royalties”) based on the amount of BDO produced at the PROESATM Plant as provided herein. The License Fee shall be US $10,000,000
(Ten Million U.S. Dollars) for each PROESATM Plant of up
to [...***...] metric tons per year (100% solids dry sugar basis) of design capacity. The License Fee for
PROESATM Plants of greater than [...***...] metric
tons per year (100% solids dry sugar basis) of capacity as of the Start-Up Date will be higher in proportion to their larger size as compared to [...***...] metric tons per year (i.e. the License Fee will be an amount equal to US$10,000,000
(Ten Million U.S. Dollars) multiplied by a fraction equal to the actual design capacity of the plant in metric tons per year divided by [...***...] metric tons per year). The Royalties will be equal to a fixed amount in U.S. Dollars per ton of
BDO, based on the annual total volume of BDO manufactured from [...***...] produced for commercial sale in all
PROESATM Plants for so long as any of the Patent Rights
licensed hereunder remain issued and 
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valid. For the purpose of the foregoing, a patent right shall be deemed valid if a “Valid Claim” exists with respect thereto, where a “Valid Claim” means any
claim of (a) any issued, maintained and unexpired patent or (b) a patent application listed in Schedule 1.2.27 (or mutually agreed after the date hereof to be added to Schedule 1.2.27), that has not been abandoned, disclaimed, revoked or
held invalid or unenforceable by judgment or decree entered in any judicial proceeding in the jurisdiction having authority of such patent or such patent application that is not further reviewable through the exhaustion of all permissible
applications for rehearing or review by a superior tribunal, or through the expiration of the time permitted for such applications. The Royalties shall be calculated as follows: 

US$[...***...] ([...***...] U.S. Dollars) per ton for each ton of BDO produced for commercial sale for the first
[...***...] tons per year of BDO produced; plus 
 US$[...***...] ([...***...] U.S. Dollars) per ton for each
ton of BDO produced for commercial sale above [...***...] tons per year of BDO produced; 
 provided, however, that if the average sales
price of BDO in a particular country during the applicable reporting period set forth in Section 5.3 below is less than US$[...***...] per ton, then the Royalties payable for BDO produced in such country during such reporting period shall
be reduced proportionately to an amount equal to the Royalty set forth above multiplied by a fraction equal to the average sales price per ton of BDO in such country during such reporting period divided by US$[...***...]; and provided further,
that if the average sales price of BDO in a particular country during the applicable reporting period set forth in Section 5.3 below is higher than US$[...***...] per ton, then the Royalties payable for BDO produced in such country during
such reporting period shall be increased proportionately to an amount equal to the Royalty set forth above multiplied by a fraction equal to the average sales price per ton of BDO in such country during such reporting period divided by
US$[...***...]. 
 4.2 The License Fee includes expenses of Licensor’s personnel for attending
the kick-off meeting and FEEP review meeting and up to [...***...] manhours of site assistance during the
PROESATM Plant start up. The reasonable [...***...]
expenses for [...***...] are not included in the License Fee [...***...]. The cost of Licensor personnel participating in the supervision of commissioning, start-up (beyond the first [...***...] manhours) and testing of the
PROESATM Plant is not included in the License Fee or
Royalties. The services of such personnel beyond the first [...***...] manhours will be [...***...]. 
 4.3 All expenses for a Party to dispatch its personnel to and maintain them at the other Party or at the PROESATM Plant site in performing work under this Agreement shall be borne by [...***...] unless otherwise provided
herein. 
 4.4 Genomatica shall have no obligation to make any Royalty payments to Licensor with respect to
BDO produced by any particular PROESATM Plant, where such
BDO is produced after the [...***...] anniversary of the commencement of production at that PROESATM Plant. 
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 ARTICLE 5 
 PAYMENT AND TERMS OF PAYMENT 
 5.1 (i) All payments either by Genomatica to
Licensor or by Licensor to Genomatica under this Agreement shall be made by electronic transfer of immediately available funds in United States Dollars. 
 (ii) All banking charges and other fees of the bank of the Party receiving the payment shall be borne by that Party, and all other banking charges and other fees in connection with such payment shall be
borne by the Party making the payment. 
 (iii) If payments due to Licensor from Genomatica are not received within thirty
(30) days after the date such payment is due as provided in this Article 5, Licensor shall have the right to suspend performance of its obligations under this Agreement, until Licensor receives any such payment then due and payable. In
such event, in addition to the interest charges under Article 5.1(iv) below, any time periods required for performance by Licensor under this Agreement shall be extended by the period attributable to such delay and suspension. 

(iv) In the event that either Party fails to pay the other Party any amounts due under this Agreement on the due date, then the
defaulting Party shall unconditionally pay the relevant sum due plus interest at a rate corresponding to [...***...]% over the Citibank New York prime rate, calculated from the date the relevant sum became due for payment by defaulting Party
until the date of actual payment made. 
 (v) The License Fee and Royalties due to Licensor shall be paid
by Genomatica without deduction of any taxes, customs, duties or similar charges whatsoever; provided however that Genomatica may withhold income taxes properly levied on Licensor and permitted by the applicable Treaty for the Avoidance of Double
Taxation between Italy and the country where the respective PROESATM Plant is located. In case of such withholding, Genomatica shall, on behalf of Licensor pay the tax to the appropriate Tax Authority, and Genomatica shall submit to Licensor the original receipt of tax
issued in Licensor’s name by the appropriate Tax Authorities. If Genomatica fails or refuses to provide said receipt, Genomatica shall pay the withheld amount to Licensor without unreasonable delay. 

5.2 The License Fee with respect to a PROESATM Plant shall be paid by Genomatica to Licensor according to the following schedule: 

5.2.1 Twenty percent (20%) of the License Fee shall be paid by Genomatica to Licensor after the signature of the
respective agreement under which Genomatica grants a license and sublicense under the Genomatica Intellectual Property and Licensor Intellectual Property to create and operate the PROESATM Plant (the “Plant License Agreement”) and within thirty (30) days after Genomatica has received
all of the following documents: 
 (a) One (1) original and one (1) copy of a proforma invoice issued by Licensor
covering the total License Fee set forth in this Agreement. 
 (b) One (1) original and one (1) copy of commercial
invoice. 
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 5.2.2 Forty percent (40%) of the License Fee shall be paid by Genomatica to Licensor
after the completion of delivery of the FEEP and within thirty (30) days after Genomatica has received all of the following documents: 
 (a) Two (2) photostat copies of Licensor’s letter confirming the delivery of FEEP. 
 (b) One (1) original and one (1) copy of commercial invoice. 
 5.2.3 Forty percent (40%) of the License Fee shall be paid by Genomatica to Licensor upon the earlier of (i) acceptance of the respective PROESATM Plant in accordance with Article 6.3, or (ii) eighteen
(18) months after the payment under Article 5.2.2 unless this Agreement or the license granted hereunder with respect to the respective PROESATM Plant has been terminated prior to such date, and within thirty (30) days after Genomatica has received all of
the following documents: 
 One (1) original and one (1) copy of commercial invoice. 

5.3 In March and September of each calendar year, Genomatica shall report in writing to Licensor the quantity of the BDO made from
[...***...], which is subject to the Royalties according to Article 4.1 above, in the reporting period (which reporting period shall be September through February for the March report and March through August for the September report).

 Simultaneously with the submission of such report, Genomatica make payment of the Royalties due to Licensor according to
Article 4.1 above. All payments by Genomatica to Licensor hereunder shall be made by wire transfer at the bank account which Licensor shall designate, without any deductions, except for taxes that Genomatica is permitted to withhold per the
provisions of Article 5.1(v). Genomatica shall provide Licensor with written evidence of payment of any such taxes. 
 5.4
Genomatica shall keep adequate annual records for a period three (3) years from the date payment of the Royalties is due. The records shall include sufficient detail to enable the amounts due to Licensor hereunder to be determined. Genomatica
shall permit said records to be inspected [...***...] per calendar year at any reasonable time during regular business hours by a nationally recognized independent certified public accountant selected by Licensor, at Licensor’s expense,
who signs a confidentiality agreement acceptable in form and substance to Genomatica, but only to the extent necessary to verify the amounts payable hereunder. 
 5.5 If Licensor shall be liable to pay any liquidated damages and/or compensation to Genomatica as stipulated in Article 6.2, Licensor shall make the payment within thirty (30) days after Licensor
has received first written notification from Genomatica that such payment is due unless Licensor is disputing the amount or its liability for such liquidated damages and/or compensation. If Licensor fails to make such undisputed payment when due,
Genomatica shall have the right to deduct an amount equal to any such payment not made from any payment due to Licensor under this Agreement. If Licensor is disputing the amount or its liability for such liquidated damages and/or compensation, such
dispute shall be resolved in accordance with this 
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Agreement and such amount shall not be due unless and until such dispute is finally resolved. 
 ARTICLE 6 
 PERFORMANCE GUARANTEES 

6.1 The terms of performance guarantees (including but not limited to guaranteed amounts, measurement periods and
term) will be [...***...] in writing by [...***...] for each PROESATM Plant based on [...***...], prior to Genomatica entering into the respective Plant License Agreement. Licensor guarantees that, if the
PROESATM Plant, with Critical Equipment supplied by
CONTRACTOR, is constructed, operated and maintained in strict accordance with the FEEP and other technical documentation provided by Licensor and has available a sufficient number of qualified plant operating and supervisory personnel, with the
utilities, additives, catalysts and feedstock of the specified quality and quantity, the PROESATM Plant will be able to satisfy the performance guarantees [...***...] relating to quantity and quality of [...***...] and guaranteed consumption of feedstock and utilities. These performance
guarantees shall be demonstrated through a [...***...] test performed at the PROESATM Plant (the “Performance Test”). 
 6.2 In the
event for reasons attributable to or within the responsibility of Licensor the PROESATM Plant fails to achieve the agreed performance guarantees within a period of [...***...] (provided that such time period may be extended to [...***...] if special equipment or other special
resources are needed and must be acquired in order to enable achievement of the performance guarantees and Licensor notifies Genomatica in writing thereof) from the Start-Up Date, then Licensor will be obligated to pay liquidated damages to
Genomatica, at rates to be agreed for the particular
PROESATM Plant prior to Genomatica entering into the
respective Plant License Agreement (the “Liquidated Damages”), and, unless Genomatica provides written notice to Licensor as provided in Article 6.3 below, the Liquidated Damages will be Licensor’s sole liability and
Genomatica’s sole remedy for such failure to achieve the performance guarantees; provided that the foregoing will not limit Licensor’s obligation to indemnify Genomatica for Third Party claims, actions, suits or proceedings under
Article 11.2. For clarity, such liquidated damages shall be subject to the limitations set out in Article 13.16 hereof. If, for reasons not attributable to or within the responsibility of Licensor, the agreed performance guarantees cannot be
successfully demonstrated within the earlier of [...***...] (or [...***...] if special equipment or other special resources are needed and must be acquired in order to enable achievement of the performance guarantees and Licensor
notifies Genomatica in writing thereof) after the Start-Up Date, or [...***...] after the signature of the respective Plant License Agreement, then, unless Genomatica provides written notice to Licensor as provided in Article 6.3 below,
the performance guarantees shall be deemed to have been demonstrated and Licensor shall have no further obligation or liability in connection its obligation to achieve the performance guarantees. 

6.3 Upon the occurrence of the successful completion of the Performance Test, the PROESATM Plant shall be deemed accepted and both Parties shall sign a
Certificate of Acceptance for the PROESATM Plant. Upon the
occurrence of either of the following events: 
 (i) the failure to successfully complete the Performance Test within
[...***...] (or [...***...] if special equipment or other special resources are needed and must be acquired in 

***Confidential Treatment Requested 

  
 11 

 
order to enable achievement of the performance guarantees and Licensor notifies Genomatica in writing thereof) after the Start-Up Date for reasons attributable to or within the responsibility of
Licensor and the payment by Licensor of the Liquidated Damages due in connection with such failure, or 
 (ii) the failure to
successfully complete the Performance Test within the earlier of [...***...] (or [...***...] if special equipment or other special resources are needed and must be acquired in order to enable achievement of the performance guarantees and
Genomatica notifies Licensor in writing thereof) after the Start-Up Date or [...***...] after the signature of the respective Plant License Agreement, for reasons not attributable to or within the responsibility of Licensor, 

the PROESATM Plant shall be deemed accepted and both Parties shall sign a Certificate of Acceptance for the PROESATM Plant, unless Genomatica provides written notice to Licensor within
thirty (30) days after such failure to successfully complete the Performance Test of Genomatica’s determination that the PROESATM Plant cannot be operated on a commercially viable basis, in which case the PROESATM Plant shall not be accepted and Genomatica shall have the right to
terminate the license granted with respect to such
PROESATM Plant (and otherwise maintain this Agreement in
full force and effect) or to terminate this Agreement, including the license, in its entirety and, in case the license or this Agreement is terminated, Genomatica shall not be obligated to make any payment of the License Fees under
Article 5.2.3 with respect to such PROESATM Plant.

 6.4 EXCEPT AS SPECIFICALLY PROVIDED IN THIS AGREEMENT, NEITHER PARTY MAKES ANY OTHER WARRANTIES OR GUARANTEES, EXPRESS
OR IMPLIED, RELATING TO THIS AGREEMENT INCLUDING, IN THE CASE OF LICENSOR, RELATING TO LICENSOR’S SERVICES OR THE LICENSED PROCESS, AND IN THE CASE OF GENOMATICA, RELATING TO THE SUCCESS OF ANY PROESA PLANT, AND EACH PARTY DISCLAIMS ANY IMPLIED
WARRANTIES OR WARRANTIES IMPOSED BY LAW INCLUDING WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.  

ARTICLE 7 

COMMERCIALIZATION 
 7.1 Licensor will give reasonable assistance to Genomatica in sales efforts to third parties, including responding to technical queries and participation in sales visits to potential clients. The extent
of such assistance shall be determined by [...***...] and at [...***...] expense. Genomatica will be responsible for executing any Plant License Agreements, and agrees that such Plant License Agreements will include, within the
Genomatica license, a sublicense of the PROESATM Process
Technology, and will bear all expense in connection with executing such Plant License Agreements. Said sublicense of the PROESATM Process Technology will include safeguards against unauthorized disclosure and use of the PROESATM Process Technology and other Confidential Information consistent
with those are set forth in this Agreement or as the Parties hereto shall otherwise mutually agree. 
 ***Confidential Treatment
Requested 

  
 12 

 7.2 CONTRACTOR. CONTRACTOR will be the basic engineering
contractor for each PROESATM Plant and will provide
Critical Equipment required for implementation of the PROESATM Process Technology, as well as such other equipment as may be mutually agreed. Mechanical guarantees for the Critical Equipment and for such other equipment supplied by CONTRACTOR will be provided by
CONTRACTOR. 
 7.3 Independent Contractors. Each Party is an independent contractor and shall retain complete control and
responsibility for its own operations and employees. Nothing in this License Agreement shall be construed to constitute either Party as a partner, agent or representative of the other Party. Neither Party shall have the right or authority to assume
or create any obligation on behalf of or in the name of the other, or to bind the other in any manner whatsoever. 
 ARTICLE 8

 INTELLECTUAL PROPERTY 
 8.1 Intellectual Property. Each Party acknowledges and agrees that, as between the Parties, each Party is and shall remain the sole and exclusive owner of all right, title, and interest in and to
its Intellectual Property, and that this License Agreement does not affect such ownership. Each Party acknowledges that it acquires no rights under this License Agreement to the other Party’s Intellectual Property other than the limited rights
specifically granted in this License Agreement. Except as specifically modified herein, the rights of the Parties with respect to Intellectual Property are as set out in the Joint Development Agreement. 

8.2 No Implied Licenses. No license or right is granted by implication or otherwise with respect to any patent application or
patent or other Intellectual Property except as may be specifically set forth in this License Agreement. Licensor and Genomatica will promptly notify the other in writing if such Party (a) becomes aware of any Intellectual Property of a Third
Party that would be infringed by the activities under this Agreement, (b) receives a written claim or notice of infringement of any Intellectual Property of a Third Party related to the activities under this Agreement or (c) is sued for
infringement of any Intellectual Property of a Third Party as a result of the activities under this Agreement. 
 ARTICLE 9

 CONFIDENTIAL INFORMATION 
 9.1 Confidentiality. Each Party (in such capacity, the “receiving Party”) agrees to maintain the confidentiality of, and not disclose to any other Person, all Confidential Information of
the other Party (in such capacity, the “disclosing Party”) and not to use the Confidential Information of the other Party except for the purposes of this License Agreement, in each case for [...***...] years from the Effective Date
of this License Agreement (but it no event less than [...***...] years after termination of this Agreement). The obligation of confidentiality, nondisclosure and nonuse shall not apply to Confidential Information which: 

 

	 	(a)	is or becomes public through no fault of the receiving Party; 

  

	 	(b)	is known by the receiving Party at the time of disclosure as shown by prior written records; 

***Confidential Treatment Requested 

  
 13 

	 	(c)	is disclosed to the receiving Party by a Third Party entitled to disclose it without obligation of confidentiality, or 

 

	 	(d)	is independently developed by the receiving Party. 

 9.2 Permitted Disclosures. Each Party may disclose Confidential Information belonging to the other Party: 
  

	 	(a)	to its own employees or consultants and, in the case of Genomatica, to sublicensees or potential sublicensees, who are subject to binding obligations concerning
confidential information no less stringent than those contained in this Agreement, to the extent such disclosure is reasonably necessary in connection with the activities contemplated by this License Agreement, provided that the disclosing Party
shall be responsible for any breach thereof by its own employees or consultants; 

  

	 	(b)	to the extent such disclosure is reasonably necessary for prosecuting or defending litigation or complying with applicable laws, rules or governmental regulations,
providing that in the event a Party is required to make a disclosure of the other Party’s Confidential Information pursuant to this clause (b), it shall, except where impracticable or not permitted by Law, give reasonable advance notice to the
other Party of such disclosure and use commercially reasonable efforts, at the cost of the other Party, to secure confidential treatment of such information; or 

 

	 	(c)	to Third Parties in connection with due diligence or similar investigations by such Third Parties, provided, in each case, that any such Third Party agrees to be bound
by obligations concerning confidential information no less stringent than those contained in this Agreement. 

9.3 Permitted Disclosure of Material Terms of this License Agreement. A Party shall have the right to disclose the material terms
of this License Agreement (a) to any Person retained by such Party to perform legal, accounting, engineering or similar services and who have a need to know such terms in order to provide such services and (b) to Third Parties in
connection with due diligence or similar investigations by such Third Parties, provided that any such Person or Third Party is bound to confidentiality obligations consistent in all material respects with and no less stringent than the terms of this
Article 9. 
 9.4 Publicity. In any event, each Party agrees to take all reasonable action to avoid disclosure of the
other Party’s Confidential Information hereunder. Promptly following the Effective Date, the Parties will coordinate on the possible issuance of a press release concerning this License Agreement (which may be a joint press release or separate
press releases by each Party), subject to mutual agreement of the Parties on the content of such press release. If either Party desires to, or is required by Law or stock exchange requirements to, make a public announcement concerning this License
Agreement or the subject matter hereof after such initial press release, if any, such Party shall give reasonable prior advance notice of the proposed text of such announcement to the other Party for its prior review and comment. 

  
 14 

 9.5 License Agreement Terms Are Confidential Information of Both Parties. Except for
public statements agreed to by the Parties or for disclosures that are in the reasonable judgment of a Party required by law or stock exchange listing requirements, the Parties agree that the existence, material terms, and the subject matter of this
License Agreement shall be considered Confidential Information of both Parties. 
 9.6 Equitable Remedies. Each Party
acknowledges and agrees that the other Party’s remedies at law for breach or threatened breach of any of the provisions of this Article 9 would be inadequate and, in recognition of that fact, in the event of any such breach or threatened
breach, it is agreed that, in addition to other remedies to which it may be entitled, the other Party will be entitled to equitable relief in the form of specific performance, temporary restraining order, temporary or permanent injunction without
the necessity of posting bond, or any other equitable remedy which may then be available; provided, that nothing herein contained will be construed as prohibiting the non-breaching Party from pursuing any other remedies available to it for such
breach or threatened breach, including recovery of damages from such breaching Party. 
 ARTICLE 10 

REPRESENTATIONS AND WARRANTIES 
 10.1 Representations and Warranties of Genomatica. Genomatica represents and warrants to Licensor as of the Effective Date that: 

(a) Genomatica is a corporation, duly incorporated, validly existing and in good standing under the laws of the State of
Delaware. Genomatica has all requisite power and authority to carry on its business and to own and use the assets and properties owned and used by it. 
 (b) Genomatica has all requisite power and authority to execute and deliver this License Agreement and to perform its obligations hereunder. The execution and delivery of this License Agreement by
Genomatica and the performance by Genomatica of its obligations hereunder have been duly and validly authorized by all necessary action on the part of Genomatica. This License Agreement has been duly and validly executed and delivered by Genomatica
and, assuming the due authorization, execution and delivery by Licensor, constitutes a valid and binding obligation of Genomatica enforceable against Genomatica in accordance with its terms. 

(c) The execution and delivery of this License Agreement by Genomatica and the performance by Genomatica of its
obligations hereunder, does not and will not, as the case may be, (i) conflict with or violate any provision of the Certificate of Incorporation or the Bylaws of Genomatica, (ii) conflict with, result in a breach of, constitute (with or
without due notice or lapse of time or both) a default under, result in the acceleration of, create in any party the right to accelerate, terminate, modify or cancel, or require any notice, consent or waiver under, any contract, agreement or
arrangement (written or oral), franchise or permit to which Genomatica is a party or by which Genomatica is bound, (iii) result in the imposition of any lien, claim, charge or encumbrance upon any Genomatica Intellectual Property, or
(iv) violate any Law applicable to Genomatica. 

  
 15 

 (d) There is no action, suit, proceeding, claim, or investigation pending or
threatened against Genomatica, in any court or by or before any governmental authority, or before any arbitrator of any kind, which, if adversely determined, would restrict the ability of Genomatica to perform its obligations hereunder. Genomatica
knows of no basis for any such action, suit, claim, investigation, or proceeding. 
 (e) Genomatica is the
exclusive owner or licensee of the Genomatica Intellectual Property, and it has the right to license or sublicense such Genomatica Intellectual Property to Third Parties to whom it sublicenses Licensor Intellectual Property without conflict with the
rights of any Third Party, or has secured all necessary and appropriate consents to license the same. 
 (f) The
Genomatica Intellectual Property is not subject to any claims, encumbrances, liens, licenses, judgments and/or security interests that could reasonably be expected to have an adverse effect on the right to practice such Genomatica Intellectual
Property in the BDO Field, and none of the Genomatica Intellectual Property is the current subject of any litigation, interference or opposition proceeding. 
 (g) Genomatica is unaware of any publications or activities (including, without limitation, patents, articles, and public uses or sales) by it or others, which could reasonably be expected to invalidate
any claim(s) of any patent or patent application within the Genomatica Intellectual Property. 
 (h) Genomatica
is not aware of any valid Third Party Intellectual Property that could reasonably be expected to be infringed or asserted to be infringed by practice of the Genomatica Intellectual Property in the licensing to Third Parties pursuant to this License
Agreement. 
 (i) Genomatica has and will continue to have the legal power to license or sublicense Genomatica
Intellectual Property to Third Parties to whom it sublicenses Licensor Intellectual Property and it has not made and will not make any commitments to others inconsistent with or in derogation of such rights. 

10.2 Representations and Warranties of Licensor. Licensor represents and warrants to Genomatica as of the Effective Date that:

 (a) Licensor is a corporation validly existing and in good standing under the laws of Italy. Licensor has all
requisite power and authority to carry on its business and to own and use the assets and properties owned and used by it. 
 (b) Licensor has all requisite power and authority to execute and deliver this License Agreement and to perform its obligations hereunder. The execution and delivery of this License Agreement by Licensor
and the performance by Licensor of its obligations hereunder have been duly and validly authorized by all necessary action on the part of Licensor. This License Agreement has been duly and validly executed and delivered by Licensor and, assuming the
due authorization, execution and delivery by Genomatica, constitutes a valid and binding obligation of Licensor enforceable against Licensor in accordance with its terms. 

  
 16 

 (c) The execution and delivery of this License Agreement by Licensor and the
performance by Licensor of its obligations hereunder, does not and will not, as the case may be, (i) conflict with or violate any provision of the Certificate of Incorporation or By-Laws of Licensor, (ii) conflict with, result in a breach
of, constitute (with or without due notice or lapse of time or both) a default under, result in the acceleration of, create in any party the right to accelerate, terminate, modify or cancel, or require any notice, consent or waiver under, any
contract, agreement or arrangement (written or oral), franchise or permit to which Licensor is a party or by which Licensor is bound, (iii) result in the imposition of any lien, claim, charge or encumbrance upon any Licensor Intellectual
Property, or (iv) violate any Law applicable to Licensor. 
 (d) There is no action, suit, proceeding, or
material claim or investigation pending or threatened against Licensor, in any court or by or before any governmental authority, or before any arbitrator of any kind, which, if adversely determined, would restrict Licensor’s ability to perform
its obligations hereunder. Licensor knows of no basis for any such action, suit, claim, investigation, or proceeding. 
 (e) Licensor is the exclusive owner of the Licensor Intellectual Property, and it has the right to grant Genomatica the limited license under Article 2.1 and other rights granted in this License Agreement
without conflict with the rights of any Third Party, or has secured all necessary and appropriate consents to license the same. 
 (f) The Licensor Intellectual Property is not subject to any claims, encumbrances, liens, licenses, judgments and/or security interests that could reasonably be expected to have an adverse effect on the
right to practice such Licensor Intellectual Property in the BDO Field, and none of the Licensor Intellectual Property is the current subject of any litigation, interference or opposition proceeding. 

(g) Licensor is unaware of any publications or activities (including, without limitation, patents, articles, and public
uses or sales) by it or others, which could reasonably be expected to invalidate any claim(s) of any patent or patent application included in the Licensor Intellectual Property. 

(h) Licensor is not aware of any Third Party Intellectual Property that could reasonably be expected to be infringed or
asserted to be infringed by practice of the Licensor Intellectual Property in the performance of this License Agreement. 
 (i) Licensor has and will continue to have the legal power to extend the rights granted to Genomatica in this License Agreement with respect to Licensor Intellectual Property, and it has not made and will
not make any commitments to others inconsistent with or in derogation of such rights. 
 10.3 Notice of Developments. The
Parties will give prompt written notice to each other of (a) any event or development causing a breach of any of their respective representations and warranties contained in this License Agreement, (b) any failure to comply with or satisfy
any covenant or agreement to be complied with by such Party hereunder and (c) any event or development that, individually or in the aggregate, could reasonably be expected to result in a 

  
 17 

 
breach of any of their respective representations and warranties contained in this License Agreement or the failure to comply with or satisfy any covenant or agreement to be complied with by such
Party hereunder. No disclosure by any Party pursuant to this Article 10.3, however, shall be deemed to prevent or cure any misrepresentation, breach of warranty or breach of covenant. During the term of this License Agreement, no Party shall take
any action or agree to take any action, either orally or in writing, that could reasonably be expected to result in a breach of any of their respective representations and warranties contained in this License Agreement or any failure to comply with
or satisfy any covenant or agreement to be complied with by such Party hereunder. 
 10.4 DISCLAIMER OF WARRANTIES.
Except as specifically provided in Article 6 or in this Article 10, each Party disclaims all warranties of any kind, express or implied, to the fullest extent permitted by Law, including but not limited to the implied warranties of merchantability,
fitness for particular purpose and noninfringement. 
 ARTICLE 11 

INDEMNIFICATION 
 11.1 Indemnification by Genomatica. Genomatica shall indemnify, defend, and hold harmless Licensor and its Representatives from and against any and all damages, losses, liabilities, judgments,
awards, costs, and expenses of any nature whatsoever, including reasonable attorneys’ fees and court costs (collectively, “Damages”), incurred by any of them as a result of (a) any Third Party claims, actions, suits or
proceedings arising from any breach of any representation, warranty, covenant or agreement of Genomatica herein or (b) any Third Party claims that the practice of the Genomatica Intellectual Property pursuant to this License Agreement infringes
Intellectual Property of such Third Party. 
 11.2 Indemnification by Licensor. Licensor shall indemnify, defend, and
hold harmless Genomatica and its Representatives from and against any and all Damages incurred by any of them as a result of (a) any Third Party claims, actions, suits or proceedings arising from any breach of any representation, warranty,
covenant or agreement of Licensor herein or (b) any Third Party claims that the practice of the Licensor Intellectual Property pursuant to this License Agreement infringes Intellectual Property of such Third Party. 

11.3 Control of Defense. Except as specifically provided in this Article, any Person entitled to indemnification under this
Article 11 shall give written notice to the indemnifying Party of any claims that may be subject to indemnification, promptly after learning of such claim, and the indemnifying Party shall assume the defense of such claims with counsel reasonably
satisfactory to the indemnified party. If such defense is assumed by the indemnifying Party with counsel so selected, the indemnifying Party will not be subject to any liability for any settlement of such claims made by the indemnified party without
its consent (but such consent will not be unreasonably withheld or delayed), and will not be obligated to pay the fees and expenses of any separate counsel retained by the indemnified party with respect to such claims. 

11.4 Remedies. No remedy set forth in this License Agreement is intended to be exclusive of any other remedy. Each remedy shall be
in addition to every other remedy provided hereunder, or now or hereafter existing at law, in equity, by statute, or otherwise. 

  
 18 

 ARTICLE 12 
 TERM AND TERMINATION 
 12.1 Termination by the Parties. This License Agreement may
be terminated: 
 (a) by mutual written consent of Licensor and Genomatica; 

(b) by Genomatica upon written notice to Licensor as provided in Article 6.3; 

(c) by either Party as provided in Article 13.2; 

(d) by Genomatica in the event Licensor has breached in any material respect any representation, warranty, covenant or
agreement of Licensor contained in this License Agreement, Genomatica has notified Licensor of the breach, and the breach has continued without cure for a period of thirty (30) days after the notice of breach; 

(e) by Licensor in the event Genomatica has breached in any material respect any representation, warranty, covenant or
agreement of Genomatica contained in this License Agreement, Licensor has notified Genomatica of the breach, and the breach has continued without cure for a period of thirty (30) days after the notice of breach; 

Any termination of this License Agreement pursuant to Article 12.1 shall be effective upon the delivery of written notice of the terminating Party to the
other Party. 
 12.2 Effect of Termination. Upon termination of this License Agreement pursuant to
this Article 12 all rights and obligations of the Parties under this License Agreement shall terminate, except as provided in this Article 12.2. Termination of this License Agreement shall not relieve or release either Party of any right or
obligation which, at the time of such termination, has already accrued to such Party or which is attributable to a period prior to such termination, nor will any expiration or termination of this License Agreement preclude either Party from pursuing
all rights and remedies it may have under this License Agreement, at law or in equity, with respect to breach of this License Agreement. For the avoidance of doubt, it is understood that termination of this License Agreement by Licensor due to
Genomatica’s failure to make payments due under Articles 4 and 5 hereof with respect to any PROESATM Plant(s) shall not relieve Genomatica from the obligation to make such payments owed prior to such termination, but will terminate the license to use Licensor’s Intellectual Property for such
PROESATM Plant(s); provided, however, that any sublicense
under Licensor Intellectual Property for a PROESATM Plant
granted by Genomatica under a Plant License Agreement prior to such termination shall remain in full force and effect as a direct license from Licensor provided that the sublicensee pays Licensor in full unpaid payments (if any) due and owing to
Licensor with respect to such PROESATM Plant within thirty
(30) days after termination of this Agreement and enters into a binding agreement with Licensor on terms equivalent to those contained in this Agreement to pay Licensor any unpaid fees, including Royalties, as described in Article 4 in
connection with the sublicense (if such amounts have not already been paid by such sublicensee). The provisions set forth in Articles 8, 9, 10.4, 11, 12.2 and 13 shall remain in full force and effect and survive any termination of this License
Agreement. 

  
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 ARTICLE 13 
 GENERAL TERMS 
 13.1 Non-Solicitation. During the term of this
License Agreement and for a period of [...***...] after the termination of this License Agreement, unless otherwise agreed to by the Parties, each Party agrees that it will not and will not permit its Affiliates to directly or indirectly
solicit for employment or consulting any employee of the other Party or its Affiliates; provided that in no event will listing or advertising any employee or consultant position in any publicly available source or hiring or engaging any person who
contacts a Party or its Affiliate based upon such listing or advertisement be a breach of this Article 13.1. 
 13.2 Force
Majeure. The Parties shall be exempt from liability in respect of any failure to perform their obligations under this License Agreement due to circumstances beyond their reasonable control, including but not limited to those arising from:
(i) war, acts of terrorism, fire, epidemic, flood or other acts of God, explosion, civil commotion, strike, lock-out or labor disturbances, acts, regulations or laws of any government, or failure of public utilities or common carriers,
(ii) inability to procure raw materials (other than dextrose) due to shortages of raw materials, or (iii) prevention from or hindrance in obtaining energy or other utilities. The Party so affected shall give written notice to the other
Party of any such force majeure event and shall use its good faith efforts to avoid or remove such causes of non-performance and to continue performance whenever such causes are removed. Should the event(s) of force majeure suffered by a Party
extend beyond a three (3)-month period, the other Party may then terminate this Agreement by written notice to the non-performing Party, with the consequences of such termination as set forth in Article 13.2. 

13.3 Notices. Except as expressly set forth to the contrary in this License Agreement, all notices, requests, or consents
provided for or permitted to be given under this License Agreement must be in writing and must be given either by depositing that writing in the United States mail, addressed to the recipient, postage paid, and registered or certified with return
receipt requested or by delivering that writing to the recipient in person, by courier, or by facsimile transmission; and a notice, request, or consent given under this License Agreement is effective on receipt by the person to receive it. All
notices, requests, and consents to be sent to a Party must be sent to or made at the following addresses (or such other address as that a Party may specify by notice to the other Party). 

 

					
		 	If to Licensor, to:	  	Beta Renewables S.p.A.
		 		  	Strada Ribrocca n. 11
		 		  	15057 Tortona (AL) Italy
		 		  	Attention:  Corporate R&D Director
		 		  	Facsimile:  (39) 0131-81-1759

 ***Confidential Treatment Requested 

  
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		 	with a copy to:	  	Chemtex International Inc.
		 		  	1979 Eastwood Road
		 		  	Wilmington, NC 28403
		 		  	Attention:  General Counsel
		 		  	Facsimile:  910) 509-4567
			
		 	If to Genomatica, to:	  	Genomatica, Inc.
		 		  	10520 Wateridge Circle
		 		  	San Diego, CA 92121
		 		  	Attention:  Chief Technology Officer
		 		  	Facsimile:  (858) 824-1772
			
		 	with a copy to:	  	Cooley LLP
		 		  	4401 Eastgate Mall
		 		  	San Diego, CA 92121
		 		  	Attention:  Kay Chandler
		 		  	Facsimile:  (858) 550-6420

 Whenever any notice is required to be given by law or this License Agreement, a written waiver thereof,
signed by the person entitled to notice, whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice. 
 13.4 Schedules; Entire Agreement. This License Agreement includes the following Schedules, which are an integral part hereof: 

 

			
	Schedule 1.2.5	  	Basic Engineering Design
	Schedule 1.2.8	  	Critical Equipment
	Schedule 1.2.12	  	FEEP
	Schedule 1.2.16	  	Genomatica Microorganism(s)
	Schedule 1.2.23	  	Patent Rights

 This License Agreement, together with the Schedules hereto, constitutes the entire agreement of the
Parties relating to the subject matter hereof and thereof and supersedes all prior contracts or agreements with respect to the licensing of the PROESATM Process Technology for BDO, whether oral or written, including the NDA. For clarification, the Joint Development
Agreement shall remain in effect in accordance with its terms. 
 13.5 Effect of Waiver or Consent. A waiver or consent,
express or implied, to or of any breach or default by any Party in the performance by that Party of its obligations is not a consent or waiver to or of any other breach or default in the performance by that Party of the same or any other obligations
of that person. Failure on the part of a Party to complain of any act of any Party or to declare the other Party in default, irrespective of how long that failure continues, does not constitute a waiver by that Party of its rights with respect to
that default until the applicable statute-of-limitations period has run. 

  
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 13.6 Amendment or Modification. This License Agreement may be amended, modified, or
supplemented only by a written instrument duly executed by each of the Parties, which instrument shall specifically indicate that it is the desire of the Parties to amend, modify or supplement this License Agreement, and similarly may be waived only
by a written instrument duly executed by the waiving Party. 
 13.7 Binding Act. This License Agreement is binding
on and inures to the benefit of the Parties and their respective heirs, legal representatives, successors, and assigns. 
 13.8
Governing Law. THIS LICENSE AGREEMENT IS GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, EXCLUDING ANY CONFLICT-OF-LAWS RULE OR PRINCIPLE THAT MIGHT REFER THE GOVERNANCE OR THE CONSTRUCTION OF THIS
License Agreement TO THE LAW OF ANOTHER JURISDICTION. 
 13.9 Severability. If any provision of this License Agreement or
the application thereof to any person or circumstance is held invalid or unenforceable to any extent, the remainder of this License Agreement and the application of that provision to other Persons or circumstances is not affected thereby and that
provision shall be enforced to the greatest extent permitted by Law. 
 13.10 Further Assurances. In connection with this
License Agreement and the transactions contemplated hereby, each Party shall execute and deliver any additional documents and instruments and perform any additional acts that may be necessary or appropriate to effectuate and perform the provisions
of this License Agreement and those transactions. 
 13.11 No Third Party Beneficiaries. The provisions hereof are solely
for the benefit of the Parties and are not intended to, and shall not be construed to, confer a right or benefit on any other person. 
 13.12 Counterparts. This License Agreement may be executed in any number of counterparts with the same effect as if all signing Parties had signed the same document. All counterparts shall be
construed together and constitute the same instrument. 
 13.13 Assignability. Unless expressly provided otherwise in
this License Agreement, no Party shall have the right to assign or otherwise transfer its rights or obligations under this License Agreement, except with the written consent of the other Party, not to be unreasonably withheld or delayed; provided,
however, that a Party may, without the other Party’s consent, assign or otherwise transfer its rights or obligations under this License Agreement to (a) a successor in interest to all or substantially all of the business of such Party to
which this License Agreement relates, whether by merger, sale of stock, sale of assets or otherwise, or (b) any Affiliate. In the event of any assignment of this License Agreement by a Party to its Affiliate pursuant to this Article 13.13, the
assigning Party shall remain liable and responsible to the non-assigning Party hereto for the performance and observance of all such rights and obligations by such Affiliate. Any assignment of this License Agreement in contravention of this Article
13.13 shall be null and void. 

  
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 13.14 Resolutions of Disputes. 

(a) The Parties will use commercially reasonable efforts to resolve any dispute through good faith negotiations. If within
[...***...] of any dispute being notified to the other Party the dispute has not been satisfactorily concluded, then unless otherwise agreed, the Parties shall refer the dispute to the Chief Executive Officer of Licensor and the Chief
Executive Officer of Genomatica. If within [...***...] of the dispute being referred to the individuals referenced in the prior sentence the dispute has not been satisfactorily concluded, then either Party may (but is not required to) refer
the dispute for resolution pursuant to Article 13.14(b). 
 (b) Following negotiations pursuant to Article 13.14(a), any
remaining dispute, controversy, or claim arising under, out of or relating to this License Agreement (and subsequent amendments thereof), its validity, binding effect, interpretation, performance, breach or termination, including tort claims, shall
be finally determined by arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules, as in force at the time when the arbitration is initiated. The arbitral tribunal shall consist of three
(3) mutually acceptable arbitrators. The place of arbitration shall be [...***...]. Judgment on the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. 

13.15 Headings and Recitals. The headings and recitals used herein are for ease of reference and information and do not affect the
interpretation of the Article to which they relate or the interpretation of this License Agreement in any other respect. 
 13.16 Limitation of Liability. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER OR ITS AFFILIATES FOR ANY SPECIAL OR CONSEQUENTIAL DAMAGES, REGARDLESS OF THE FORM OF ACTION, WHETHER IN
CONTRACT, IN TORT INCLUDING NEGLIGENCE, BY STATUTE OR UNDER ANY QUASI-CONTRACTUAL THEORY OF LIABILITY, EVEN IF A PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. The foregoing limitations of liability and damages will not apply and nothing
in this License Agreement shall affect either Party’s liability for breach of any obligation specified in Article 9 or either Party’s indemnification obligations under Article 11. NOTWITHSTANDING ANY OTHER PROVISION IN THIS AGREEMENT,
IN NO EVENT SHALL LICENSOR’S LIABILITY WITH RESPECT TO ANY PROESATM PLANT EXCEED 100% OF THE LICENSE FEE PAID TO LICENSOR IN CONNECTION WITH SAID PROESATM PLANT, EXCEPT THAT SUCH LIMITATION SHALL NOT APPLY (A) TO LICENSOR’S OBLIGATION TO INDEMNIFY GENOMATICA FOR
THIRD PARTY CLAIMS, ACTIONS, SUITS OR PROCEEDINGS UNDER ARTICLE 11.2, OR (B) TO LICENSOR’S LIABILITY FOR FRAUD OR WILLFUL MISCONDUCT, 
 IN WITNESS WHEREOF, the Parties caused this License Agreement to be executed by their duly authorized and empowered representatives as of the Effective Date. 

***Confidential Treatment Requested 

  
 23 

			
	BETA RENEWABLES S.P.A.
		
	By:	 	 /s/ illegible

		
	Title:	 	 CTO

		
	Date:	 	 7th December, 2011

	
	GENOMATICA, INC.
		
	By:	 	 /s/ Bill Baum

		
	Title:	 	 Executive Chairman

		
	Date:	 	 December 7, 2011

  
 24 

 Schedule 1.2.5 
 Basic Engineering Design 
 [...***...] 

***Confidential Treatment Requested 

  
 25 

 Schedule 1.2.8 

Critical Equipment 
  

			
	 ITEM
	 	 CATEGORY / TYPE

		
	 [...***...]
	 	 [...***...]

 ***Confidential Treatment Requested 

  
 26 

 Schedule 1.2.12 

FEEP 
 Process
Design Package 
 [...***...] 
 ***Confidential Treatment Requested 

  
 27 

 Schedule 1.2.16 

Genomatica Microorganism(s) 
 The microorganism for 1,4-BDO production from biomass sugars is [...***...] which has been genetically modified to convert [...***...] into 1,4-butanediol as the primary product. 

***Confidential Treatment Requested 

  
 28 

 Schedule 1.2.23 – Patent Rights 

[...***...] 

***Confidential Treatment Requested 

  
 29JV and License Agreement

 Exhibit 10.25 
 ***Text Omitted and Filed Separately 
 with the Securities and Exchange
Commission. 
 Confidential Treatment Requested 
 Under 17 C.F.R. Sections 200.80(b)(4) 
 and 230.406 

JV AND LICENSE AGREEMENT 
 THIS JV AND LICENSE AGREEMENT is entered into as of December 7, 2011 (the “Execution Date”) between
GENOMATICA, INC., a company incorporated under Delaware law (“Genomatica”), having a registered address at 10520 Wateridge Circle, San Diego, California 92121, United States of America, and
NOVAMONT S.P.A., a company incorporated under the laws of Italy (“Novamont”), having a registered address at Via G. Fauser 8, 28100 Novara, Italy. Genomatica and Novamont shall be referred to
individually as a “Party” and collectively as “Parties”. 
 WHEREAS,
Genomatica has developed proprietary technology and recombinant microorganisms to produce 1,4-butanediol (“BDO”); 
 WHEREAS, Novamont has expertise in operation of fermentation production facilities and refining fermentation products into commercial products; and 

WHEREAS, the Parties wish to produce BDO using Genomatica’s proprietary process at Novamont’s optioned
facility in Bottrighe Italy and to commercialize BDO produced at such facility. 
 NOW,
THEREFORE, in consideration of the mutual covenants set forth in this Agreement, the receipt and sufficiency of which the Parties hereby acknowledge, the Parties hereby agree as follows: 

1. DEFINITIONS. Capitalized terms, when used in this Agreement, shall have the following meanings: 

1.1 “Affiliate” means, with respect to any person or entity, any other person or entity that directly, or indirectly
through one or more intermediaries, controls, is controlled by, or is under common control with, such person or entity. For this purpose, “control,” “controlled by” and “common control” means the ownership
and voting control of more than fifty percent (50%) of the outstanding voting securities or interest in capital or profits of such person or entity, or the right to direct the management or affairs of such person or entity by contract or
similar arrangement. 
 1.2 “Agreement” means this agreement as a whole (and its annexes), as may be amended in
accordance with the terms hereof. 
 1.3 “Bioprocess” means Genomatica’s proprietary process using
Genomatica Microorganisms for the production of BDO using feedstocks from renewable carbohydrate streams. For clarification, Bioprocess does not include any agronomic and feedstock pretreatment processes and is limited to the fermentation of sugars
of any 

  
 1. 

 
origin, any process different from the fermentation being outside the scope of the present definition. 
 1.4 “Commissioning Date” means the date on which the Bioprocess has operated at the Facility for [...***...] continuous cycles in accordance with the Commissioning Performance
Targets set forth under Section I of Schedule 1.5 or in accordance with lower performance targets accepted by Novamont and resulting from a notice given to Genomatica. 
 1.5 “Commissioning Performance Targets” means the target specifications for performance of the Bioprocess at the Facility applicable for the period between the Run Test Positive Result
and the Commissioning Date and for the period following the Commissioning Date, as set forth in Section I and II, respectively, of Schedule 1.5. 
 1.6 “Confidential Information” means any information and materials furnished or made available by one Party to the other Party pursuant to or as contemplated by this Agreement or the NDA,
whether orally or in written, electronic or other form. Confidential Information shall include the terms of this Agreement, and any scientific or technical information, know-how, inventions, data or specifications, testing methods, business or
financial information, research and development activities and results, product and marketing plans, and customer and supplier information of a Party. For clarification, all Genomatica IP shall be the Confidential Information of Genomatica, and all
Novamont IP shall be the Confidential Information of Novamont. 
 1.7 “Disclosing Party” means the Party (or
Newco, as applicable) disclosing Confidential Information to the other Party (or Newco, as applicable). 
 1.8
“Effective Date” means the date on which the Run Test outcome is a Run Test Positive Result. 
 1.9
“Exclusivity Period” shall have the meaning set forth in Section 4.2(a). 
 1.10 “Europe”
means all the member States of the European Economic Area and Turkey. 
 1.11 “European Negotiation Period”
shall have the meaning set forth in Section 4.2(c). 
 1.12 “European Transaction” shall have the
meaning set forth in Section 4.2(c). 
 1.13 “Execution Date” means the date in which this Agreement is
executed by both Parties. 
 1.14 “Ex-Europe Negotiation Period” shall have the meaning set forth in
Section 4.2(d). 
 ***Confidential Treatment Requested 

  
 2. 

 1.15 “Ex-Europe Transaction” shall have the meaning set forth in
Section 4.2(d). 
 1.16 “Facility” means the fermentation plant and facilities in Bottrighe (Italy),
together with other elements of the relating going concern, that Novamont is entitled to lease to conduct the Run Test and to buy for a price still to be determined but not exceeding Euro [... *** ...]. 

1.17 “Genomatica Background IP” shall have the meaning set forth in Section 3.1(a). 

1.18 “Genomatica Improvements” shall have the meaning set forth in Section 3.1(b). 

1.19 “Genomatica IP” means all Genomatica Background IP and all Genomatica Improvements. 

1.20 “Genomatica Microorganisms” means microorganisms designated by Genomatica and supplied by Genomatica for purposes
of the Transaction Activities. 
 1.21 “Intellectual Property” means all: (a) Patent Rights;
(b) trademarks, service marks, domain names, trade dress, logos, trade names, and corporate names and registrations and applications for registration thereof; (c) copyrights and registrations and applications for registration
thereof; (d) computer software, data, and documentation; (e) trade secrets and confidential business information, whether patentable or unpatentable and whether or not reduced to practice, know-how, manufacturing and
production processes and techniques, research and development information, copyrightable works, financial, marketing and business data, pricing and cost information, business and marketing plans and customer and supplier lists and information;
(f) other proprietary rights relating to any of the foregoing; and (g) copies and tangible embodiments thereof. 
 1.22 “Losses” shall have the meaning set forth in Section 7.1. 
 1.23 “NDA” means the nondisclosure agreement between the Parties dated February 25, 2011. 
 1.24 “Newco” means a company to be incorporated by Novamont under the laws of Italy within 15 days from the Effective Date, provided that: (i) Newco shall remain at all times
an Affiliate of Novamont, it being understood that Novamont shall be entitled to transfer minority interests in the corporate capital of Newco to any Third Party provided that Novamont retains control (as defined in Section 1.1) of Newco;
(ii) Novamont shall remain liable and responsible for the performance and observance of all obligations to be carried out by Newco under this Agreement or otherwise; (iii) Newco shall be a special purpose vehicle entitled to
carry out the Transaction Activities only. 
 1.25 “New IP” shall have the meaning set forth in
Section 3.3(a) below. 
 ***Confidential Treatment Requested 

  
 3. 

 1.26 “Novamont Competitor” means any producer of biodegradable polyesters
acting in the Novamont Field and any producer of [...***...] from renewable resources mainly devoted to the production of biodegradable polyesters acting in the Novamont Field. 

1.27 “Novamont Field” means production of aliphatic and aliphatic aromatic polyesters biodegradable in different
environments, used as flexible products and/or as components of flexible products or as toughening agents of rigid products characterized by at least the presence of [...***...] and/or [...***...] and by BDO and [...***.... by
[...***...]. For avoidance of doubt, the Novamont Field excludes Genomatica C3 and C4 chemical targets of butanediols, butadiene, [...***...], [...***...], [...***...], [...***...], and [...***...]. 

1.28 “Novamont Background IP” shall have the meaning set forth in Section 3.2(a). 

1.29 “Novamont Improvements” shall have the meaning set forth in Section 3.2(b). 

1.30 “Novamont IP” means all Novamont Background IP and all Novamont Improvements. 

1.31 “Patent Rights” means all patent applications, certificate of invention, application for certificate of invention,
priority patent filing and patents, including all provisionals, converted provisionals, requests for continued examination, substitutions, divisionals, continuations, continuations-in-part, reissues, reexaminations, extensions, supplementary
protection certificates, confirmations, registrations, revalidations, revisions, and additions of or to any of the foregoing. 

1.32 “Product” means the BDO manufactured or produced using the Bioprocess at the Facility. 

1.33 “Receiving Party” shall mean the Party (or Newco, as applicable) receiving Confidential Information of the other
Party (or Newco, as applicable). 
 1.34 “Run Test” shall mean the test to be performed by Novamont within 6
(six) months from the Execution Date in the Facility using fermentation reactors of [...***...] and a range of machines either already present in the Facility and / or rented in line with the information transferred by Genomatica on the
Bioprocess. 
 1.35 “Run Test Performance Targets” means the target specifications for performance of the
Bioprocess at the Facility applicable for the Run Test as set forth in Schedule 1.35, which target specifications are set as reasonable demonstrated performance results and will make use of a “standard”, not best, Genomatica
Microorganism for the test. 
 ***Confidential Treatment Requested 

  
 4. 

 1.36 “Run Test Positive Result” shall mean the demonstration in the context
of the Run Test that the Bioprocess is working on the type of plant represented by the Facility, is able to reach the Run Test Performance Targets and confirms that the pre-basic reasonably estimated cost for retrofitting the Facility are around
Euro [...***...] or alternatively the acquisition costs plus the retrofitting costs are around Euro [...***...]. 
 1.37
“Technical Committee” means the technical committee formed by the Parties to oversee and monitor the Transaction Activities. 
 1.38 “Term” means the term of this Agreement, which begins on the Effective Date and continues until termination in accordance with Section 8.2. 

1.39 “Territory” means worldwide. 
 1.40 “Third Party” means any person or entity other than Genomatica or Novamont or their respective Affiliates. 
 1.41 “Transaction Activities” shall have the meaning set forth in Section 2.1. 
 2. TRANSACTION. 
 2.1 Activities and Objectives. The
transaction between the Parties pursuant to this Agreement consists of performance of the following activities, and supply of the following contributions, by the Parties and/or Newco, as specified below: (a) Novamont shall perform the
Run Test at the Facility, and Genomatica shall provide Genomatica IP and technical assistance as reasonably necessary to perform the Run Test at the Facility; (b) should the Run Test outcome be a Run Test Positive Result, Novamont shall
incorporate Newco and Newco shall retrofit the Facility to enable production of BDO using the Bioprocess and Genomatica and Novamont shall provide Genomatica IP and Novamont IP, respectively, and technical assistance as reasonably necessary to the
retrofitting activities; (c) following the Commissioning Date, Newco shall produce BDO using the Bioprocess at the Facility and Genomatica and Novamont shall provide Genomatica IP and Novamont IP, respectively, and the technical
assistance necessary to carry out such production activities; (d) Newco shall commercialize BDO produced using the Bioprocess at the Facility in the Territory, subject to Section 2.7; and (e) Novamont, itself or through
Newco, and Genomatica shall share capital expenditures and profits/losses of the Transaction (i.e., Acquisition Expenses, Retrofit Expenses and Profits/Losses) as specified under Exhibit A. If the Run Test outcome is not a Run Test Positive
Result, the Parties may by mutual written agreement conduct further work and repeat the Run Test if the Parties agree in writing to the postponed term pursuant to Section 8.1. If the costs for retrofitting the Facility or alternatively the
acquisition costs plus the retrofitting costs for the Facility are greater than those set forth in the definition of Run Test Positive Result, then both Novamont and Genomatica must approve such additional costs by written agreement. The activities
conducted by or on behalf of either or both of Novamont (itself or through Newco) and Genomatica relating to the 

***Confidential Treatment Requested 

  
 5. 

 
preparation for and performance of the Run Test, the retrofitting of the Facility, the production of BDO using the Bioprocess at the Facility and/or the commercialization of BDO produced at the
Facility, including the activities described in this Section 2, are collectively defined as the “Transaction Activities.” The Parties acknowledge and agree that with reference to such Transaction Activities Novamont (and Newco,
after the Run Test Positive Result) shall act as associating party (associante) and Genomatica as associated party (associato) of a joint venture (associazione in partecipazione) governed by Arts. 2549 ff. of the Italian civil
code. For clarity, Novamont shall remain liable and responsible for the performance and observance of all Transaction Activities to be carried out by Newco, Genomatica shall have no responsibility or liability for any actions or omissions by Newco,
except as provided in this Agreement. 
 2.2 Responsibilities and Deliverables. Novamont has developed an initial
business plan for the production of Products at the Facility enclosed hereto under Schedule 2.2 that also includes the Transaction Activities of the Parties (or Newco, as applicable) and will form the basis for the Business Plan (as defined in
Section 4 of Exhibit A). The Parties and Newco will use commercially reasonable efforts to execute the respective Transaction Activities in accordance with such initial business plan, as well as the Retrofitting Plan and the Business
Plan (both as defined in Section 4 of Exhibit A), once they will be available, all of them as possibly amended from time to time. 
 2.3 Retrofitting the Facility. Newco will retrofit the Facility to enable production of Products, including implementation of the construction and commissioning of the retrofitted Facility. The
anticipated capacity of the Facility, based on the Commissioning Performance Targets reported under Section II of Schedule 1.5, is production of up to 20 kilotons of Products annually. Newco will organize and deploy a dedicated team and pilot
infrastructures in order to adapt the Facility to production within one year from the Run Test Positive Result. The Retrofit Expenses will be shared in accordance with the terms under Exhibit A. 

2.4 Access to Bioprocess. Genomatica will provide Novamont access to Genomatica IP and Genomatica’s Bioprocess and Genomatica
Microorganisms to produce Products at the Facility through the license granted under Section 4.1 below. Genomatica will be responsible for delivering a complete basic engineering package for implementation of Genomatica’s Bioprocess at the
Facility, including technology transfer, performance guarantees and engineering support. Novamont agrees that Novamont and Newco will use materials provided to Novamont and/or Newco by Genomatica, including Genomatica Microorganisms, only for the
activities conducted by Newco pursuant to and in accordance with this Agreement, and not for any other purpose or use whatsoever. 
 2.5 Bioprocess Research & Development. Without prejudice for the provisions under Section 3.3 below (New IP), Genomatica agrees that it will continue to conduct research and
development of the Genomatica Microorganisms and Bioprocess, including a research program to evaluate and optimize feedstock costs, using a variety of locally sourced carbohydrate feedstocks, and that it will provide access to any useful

  
 6. 

 
outcome of the research and development activities that relates to BDO, the Bioprocess or Genomatica Microorganisms as part of the license to use Genomatica IP granted under Section 4.1
below. Genomatica will bear all expenses of its research and development activities. 
 2.6 Operation of the Facility.
Newco will be exclusively responsible for operation of the Facility and commercial production of Products following the Commissioning Date for the Facility, including supply of molasses or other fermentable sugars as feedstock for use in BDO
production at the Facility. Newco will use commercially reasonable efforts to operate the Facility and produce and commercialize Products following the Commissioning Date. 

2.7 Commercialization and Off Take of Products. Newco will be exclusively responsible for the
commercialization and off take of one hundred percent (100%) of the Products produced at the Facility (including Products sold for use by Novamont or its Affiliates), without prejudice for Genomatica’s rights described in this
Section 2.7. Genomatica will have the option to purchase from Newco up to twenty percent (20%) of the Products produced at the Facility, measured on an annual basis, for resale to Third Parties. Genomatica may exercise the option for a
given calendar year by providing written notice to Novamont before June 30th of the preceding year and will specify the percentage, up to twenty percent (20%), of Products produced at the Facility that Genomatica intends to commercialize. If Genomatica exercises the option,
Genomatica will commercialize Products produced at the Facility only for use outside the Novamont Field (also after expiry of the exclusivity provisions under Section 4.2 below), and it will establish branding and pricing strategy for sale of
Products off take from the Facility by Genomatica so that its sales are to customers outside the Novamont Field. 
 2.8
Increase of the BDO production capacity. During the Term, Novamont will make its best efforts for creating the conditions to increase by at least [...***...] the production capacity of the Facility for production of BDO using the
Bioprocess and using fermentable sugars preferably from biomass as feedstock, whether by building and/or operating in Europe a new facility in addition to the Facility, by substituting the Facility with a new one and/or by increasing the production
capacity of the Facility, it being understood that following an increase of the BDO production capacity by at least [...***...] Novamont and Newco shall be allowed to produce chemicals other than BDO at the Facility. In any case, Novamont and
Newco shall be allowed to use the Facility for testing purposes for production of chemicals other than BDO. 
 2.9 Technical
Committee. Promptly following the Execution Date, the Parties will form a technical committee, which will oversee and monitor the Transaction Activities for the entire Term. 

2.10 Financial Terms. The financial terms applicable to purchasing and retrofitting the Facility, operation of the Facility and
commercialization of Products produced at the Facility are set forth under Exhibit A. 
 ***Confidential Treatment
Requested 

  
 7. 

 3. INTELLECTUAL PROPERTY. 

3.1 Genomatica IP. 
 (a) As among the Parties and Newco, Genomatica shall be the sole and exclusive owner of all right, title, and interest in and to all Intellectual Property first conceived, reduced to practice
and/or otherwise acquired or obtained by or on behalf of Genomatica prior to the Effective Date that relates to BDO, the Bioprocess or Genomatica Microorganisms, including rights arising in the course of prosecution and maintenance of such
Intellectual Property (“Genomatica Background IP”). 
 (b) Any and all enhancements, improvements or
modifications to Genomatica Background IP conceived, reduced to practice and/or otherwise acquired or obtained solely by or on behalf of Genomatica during the Term, except for the New IP, and all Intellectual Property rights therein
(“Genomatica Improvements”) shall be solely and exclusively owned by Genomatica. In addition, if any enhancements, improvements or modifications to the Genomatica Microorganisms are conceived, reduced to practice and/or otherwise
acquired or obtained by or on behalf of Novamont or Newco, whether solely or jointly, during the Term, all such enhancements, improvements and modifications to the Genomatica Microorganisms and all Intellectual Property rights therein shall be
solely and exclusively owned by Genomatica and shall be included in the Genomatica Improvements. 
 (c) Genomatica shall
have the sole right to prepare, file, prosecute, maintain, defend and enforce all Patent Rights within the Genomatica IP. Novamont and Newco each acknowledges that it acquires no rights to Genomatica IP other than the limited rights specifically
granted in this Agreement. 
 (d) Novamont and Newco each hereby irrevocably transfers, conveys and assigns to Genomatica
all of its right, title, and interest in the Genomatica Improvements and agrees to execute such documents, render such assistance, and take such other action as Genomatica may reasonably request, at Genomatica’s expense, to apply for, register,
perfect, confirm, and protect Genomatica’s ownership rights in Genomatica Improvements. 
 3.2 Novamont IP.

 (a) As among the Parties and Newco, Novamont shall be the sole and exclusive owner of all right, title, and
interest in and to all Intellectual Property first conceived, reduced to practice and/or otherwise acquired or obtained by or on behalf of Novamont prior to the Effective Date that relates to production processes related to crops, transformation of
biomass to sugars, chemical processes for production of monomers and bioprocesses for monomers different from BDO as well as polymerization processes and production of polymeric alloys, including rights arising in the course of prosecution and
maintenance of such Intellectual Property (“Novamont Background IP”). 
 (b) Any and all enhancements,
improvements or modifications to Novamont Background IP first conceived, reduced to practice and/or otherwise acquired 

  
 8. 

 
or obtained solely by or on behalf of Novamont or Newco during the Term, except for the New IP, and all Intellectual Property rights therein (“Novamont Improvements”) shall be
solely and exclusively owned by Novamont (or Newco, as the case may be). 
 (c) Novamont (or Newco, as the case may be)
shall have the sole right to prepare, file, prosecute, maintain, defend and enforce all Patent Rights within the Novamont IP. Genomatica acknowledges that it acquires no rights to Novamont IP other than the limited rights specifically granted in
this Agreement. 
 (d) Genomatica hereby irrevocably transfers, conveys and assigns to Novamont all of its right, title,
and interest in the Novamont Improvements and agrees to execute such documents, render such assistance, and take such other action as Novamont may reasonably request, at Novamont’s expense, to apply for, register, perfect, confirm, and protect
Novamont’s ownership rights in Novamont Improvements. 
 3.3 New IP. 

(a) For the purpose of this Agreement, “New IP” means all Intellectual Property first conceived, reduced to
practice and/or otherwise acquired or obtained by or on behalf of Genomatica, Novamont or Newco, whether solely or jointly, in the course of performance of, and in relation to, the Transaction Activities during the Term, including any enhancements,
improvements or modifications relating to the Bioprocess (excluding the Genomatica Microorganisms) as well as rights arising from prosecution and maintenance of such Intellectual Property, but excluding all Genomatica IP and all Novamont IP and any
enhancements, improvements or modifications relating to Genomatica Microorganisms. 
 (b) All New IP shall be owned
jointly by the Parties (it being understood that Novamont shall be entitled to assign, in whole or in part, its New IP rights to Newco provided that Newco is subject to the same obligations with respect to New IP as Novamont as provided in this
Agreement). Each Party and Newco hereby irrevocably transfers, conveys and assigns to Genomatica and Novamont such right, title, and interest in the New IP as is necessary to vest joint ownership of the New IP in the Parties and agrees to execute
such documents, render such assistance, and take such other action as Genomatica and/or Novamont may reasonably request, at its own expense, to apply for, register, perfect, confirm, and protect the joint ownership rights of Genomatica and Novamont
in New IP. 
 (c) Genomatica and Novamont (or Newco) will agree which Party (or Newco) shall apply for and register any
Patent Rights and other proprietary protections with respect to any New IP, and shall cooperate in such activities, including sharing copies of filings with adequate time for review and comment by the other Party or Newco, and assembling
inventorship information and data for filing such patent applications. Genomatica and Novamont (or Newco) shall use reasonable efforts to reach agreement regarding the defense and/or enforcement of any Patent Rights within the New IP; provided that,
if Genomatica and Novamont (or Newco) are not able to reach agreement within ninety (90) days after a request by either Party (or Newco) to do so (but 

  
 9. 

 
in any event no fewer than ten (10) days before the time limit, if any, set forth in the appropriate laws and regulations for the filing of any action or proceeding), either Party (or Newco)
may bring and control any action or proceeding to defend or enforce such Patent Rights within the New IP, at its own expense and by counsel of its own choice, the other Party (or Newco) agrees to be joined as a party plaintiff and to provide
reasonable assistance and authority to file and prosecute the action or proceeding, and such other Party (or Newco) shall have the right, at its own expense, to be represented in any such action by counsel of its own choice. 

(d) Each Party (or Newco as assignee, in whole or in part, of Novamont New IP rights) shall have the right to use and practice,
and grant licenses to use and practice, all New IP for all uses, without the consent of or any duty of accounting to the other Party (or Newco), subject to the terms of this Section 3.3 and to the terms of Sections 6a and 6b of Exhibit A, it
being understood that: (i) Novamont and Newco shall be entitled to use and practice, or grant licenses to use and practice, New IP for the production, sale and distribution of BDO produced using the Bioprocess according to the terms set
forth in this Agreement, including the financial terms set forth in Exhibit A; (ii) Genomatica shall not grant licenses to use and practice New IP to any Third Party for use in the Novamont Field in the Territory, except with
the prior written consent of Novamont, not to be unreasonably withheld; and (iii) Novamont and Newco shall not grant licenses to use or practice New IP to any Third Party for any use outside the Novamont Field, except with the prior
written consent of Genomatica, not to be unreasonably withheld. 
 4. LICENSES. 

4.1 License for Transaction Activities. Subject to the terms and conditions of this License Agreement, Genomatica hereby grants to
Novamont a non-exclusive, non-sublicensable (except to Novamont’s Affiliates, including Newco), royalty-free license to use Genomatica IP within the Facility solely to produce Products at the Facility and to offer for sale, sell and distribute
Products produced at the Facility as provided in Section 2.7 during the Term. If Novamont grants a sublicense of the license under this Section 4.1 to any of its Affiliates, it shall cause its Affiliates to comply with all its obligations
hereunder, and it shall at all times be fully responsible for the performance of such Affiliate. 
 4.2 Exclusivity.

 (a) From the Effective Date up to [...***...] 2013 (as may be extended as provided in Section 4.2(b), the
“Exclusivity Period”), Genomatica agrees that it and Affiliates that are Controlled by Genomatica will not use Genomatica IP, and will not grant to any Third Party any license or right to use Genomatica IP, for the construction or
operation in Europe of a facility for the production of BDO using the Bioprocess and using fermentable sugars. 
 (b) The
Exclusivity Period shall be extended up to [...***...] 2016 in the event that (i) as of [...***...] 2013, Novamont and Newco are not in material breach 
 ***Confidential Treatment Requested 

  
 10.

 
of this Agreement, (ii) by [...***...] 2013 Novamont or Newco has entered into a written agreement with Genomatica to increase by at least [...***...] the capacity for production of
BDO using the Bioprocess and using fermentable sugars from biomass as feedstock, whether by building and/or operating in Europe a new facility in addition to the Facility and/or by substituting the Facility with a new one and/or by increasing the
production capacity of the Facility, it being understood that following an increase of the BDO production capacity by at least [...***...] Novamont and Newco shall be allowed in any case to produce chemicals other than BDO at the Facility and
that, in any case, Novamont and Newco shall be allowed to use the Facility for testing purposes for production of chemicals other than BDO. If any of such conditions described in clause (i) or (ii) is not met, the Exclusivity Period shall
automatically terminate. After the Exclusivity Period, Genomatica and Affiliates that are Controlled by Genomatica shall have the right to use Genomatica IP, and grant to any Third Party any license or right to use Genomatica IP, for the
construction and/or operation in Europe of facilities for the production of BDO using the Bioprocess and using fermentable sugars, subject only to Section 4.2(c), if applicable. 

(c) Genomatica agrees that, until the earlier of the end of the Term or five (5) years after the end of the Exclusivity
Period, should [...***...] propose to Genomatica or one of its Affiliates that are Controlled by Genomatica (or Genomatica or such Affiliate should propose to [...***...]) to build in Europe a facility for production of BDO using the Bioprocess and
using fermentable sugars from biomass as feedstock (a “European Transaction”), Genomatica shall provide written notice thereof to Novamont, specifying the [...***...]. If Novamont notifies Genomatica in writing that Novamont is
interested in the European Transaction within [...***...] days after the date of the written notice from Genomatica, then during the ninety [...***...] period following such written notice (or such longer period agreed in writing by the
Parties) (the “European Negotiation Period”), the Parties shall negotiate in good faith the terms of an agreement between them regarding the construction and/or operation of such new facility by the Parties. Should such negotiations
be positively concluded by entering into such agreement, the new facility shall be built and/or operated by Novamont and Genomatica shall decline the [...***...] proposal and shall not submit a new proposal for another European Transaction for a
period of 24 (twenty four) months starting from the date on which Novamont’s above-mentioned notification has been received by Genomatica. If Novamont does not notify Genomatica of its interest within [...***...] days after the date of the
written notice from Genomatica or the Parties do not enter into such agreement during the European Negotiation Period, then Genomatica or its Affiliate may accept the proposal from the [...***...]. 

(d) During the Exclusivity Period, should [...***...] propose to Genomatica or one of its Affiliates that are Controlled by
Genomatica (or Genomatica or such Affiliate should propose to [...***...]) to build outside of Europe a facility for production of BDO using the Bioprocess and using fermentable sugars from biomass as feedstock (an “Ex-Europe
Transaction”), Genomatica shall provide written notice thereof to Novamont, specifying the [...***...]. If Novamont notifies Genomatica in writing that Novamont is 
 ***Confidential Treatment Requested 

  
 11.

 
interested in the Ex-Europe Transaction within [...***...] days after the date of the written notice from Genomatica, then during the [...***...] day period following such written
notice (or such longer period agreed in writing by the Parties) (the “Ex-Europe Negotiation Period”), the Parties shall negotiate in good faith the terms of an agreement between them regarding the construction and/or operation of
such new facility by the Parties. Should such negotiations be positively concluded by entering into such agreement, the new facility shall be built and/or operated by Novamont and Genomatica shall decline the [...***...] proposal and shall not
submit a new proposal for another Ex-Europe Transaction for a period of 24 (twenty four) months starting from the date on which Novamont’s above-mentioned notification has been received by Genomatica. If Novamont does not notify Genomatica of
its interest within [...***...] days after the date of the written notice from Genomatica or the Parties do not enter into such agreement during the Ex-Europe Negotiation Period, then Genomatica or its Affiliate may accept the proposal from the
[...***...]. Notwithstanding the foregoing, this Section 4.2(d) shall not apply to (i) the production and/or operation of facilities outside Asia (excluding India and Oceania), Europe and USA for production of BDO using fermentable sugars
for captive use outside the Novamont Field, and (ii) the production and/or operation of facilities outside Europe for production of BDO using fermentable sugars by companies within the Mitsubishi Group and companies within the Tate &
Lyle Group (including, without limitation, any Affiliates and any joint ventures or similar companies involving Genomatica and any company within the Mitsubishi Group or any company within the Tate & Lyle Group). 

4.3 Genomatica Bioprocess Improvements. In the event that Genomatica, in the context of the research and development activities
under Section 2.5 above or otherwise, makes improvements to the Bioprocess, other than those that are to be considered as New IP, and makes such improvements commercially available, Novamont shall have the right to license such improvements
subject to a reasonable license upgrade fee and other terms to be agreed in writing by the Parties, which license upgrade fee will be consistent with the license upgrade fees charged by Genomatica to other licensees of such improvements. 

4.4 Reservation of Rights to Intellectual Property. Novamont reserves all rights under the Novamont IP and Genomatica reserves all
rights under the Genomatica IP, subject only to the licenses granted to Novamont in this Article 4. Novamont agrees not to practice the Genomatica IP and the New IP, and Genomatica agrees not to practice the Novamont IP and the New IP, in each case
except as expressly permitted in this Agreement or other written agreement between the Parties. 
 4.5 No Implied
Licenses. No license or right is granted by implication or otherwise with respect to any patent application or patent except as may be specifically set forth in this Agreement. 
 5. CONFIDENTIALITY. 
 5.1 Confidentiality. The
Receiving Party agrees to maintain the confidentiality of, and not disclose to any Third Party, all Confidential Information of the 
 ***Confidential Treatment Requested 

  
 12.

 
Disclosing Party and not to use the Confidential Information of the Disclosing Party except for the purposes of performance of this Agreement, in each case during the Term and for
[...***...] years thereafter. The obligation of confidentiality, nondisclosure and non-use shall not apply to Confidential Information of the Disclosing Party which: 
 (a) is known by the Receiving Party at the time of disclosure as shown by prior written records; 
 (b) is disclosed to the Receiving Party by a Third Party entitled to disclose it without obligation of confidentiality; 
 (c) is or becomes public through no fault of the Receiving Party; or 

(d) is independently developed by the Receiving Party without use of Confidential Information of the Disclosing Party. 

5.2 Permitted Disclosures. The Receiving Party may disclose Confidential Information belonging to the Disclosing Party:

 (a) to employees or consultants of the Receiving Party or its Affiliates who are subject to binding obligations
concerning confidential information and inventions, to the extent such disclosure is reasonably necessary in connection with the activities contemplated by this Agreement, provided that the Disclosing Party shall be responsible for any breach
thereof by such employees or consultants; 
 (b) to the extent such disclosure is reasonably necessary for filing or
prosecuting Patent Rights as expressly permitted by Article 3; 
 (c) to Third Parties in connection with due diligence
or similar investigations by such Third Parties, provided that any such Third Party is bound to confidentiality obligations consistent in all material respects with the terms of this Section 5; and 

(d) to the extent such disclosure is reasonably necessary for prosecuting or defending litigation or complying with applicable
laws, rules or governmental regulations, providing that in the event a Receiving Party is required to make a disclosure of the Disclosing Party’s Confidential Information pursuant to this clause (d), it shall, except where impracticable or not
permitted by applicable law, give reasonable advance notice to the Disclosing Party of such disclosure and use commercially reasonable efforts, at the cost of the Disclosing Party, to secure confidential treatment of such information. 

5.3 Publicity. Promptly following the Execution Date, the Parties will coordinate issuing a press release concerning this
Agreement (which may be a joint press release or separate press releases by each Party). If either Party desires to, or is required by applicable law or stock exchange requirements to, make a public announcement concerning this Agreement or the
subject matter hereof after the initial press release, such Party shall give reasonable prior advance notice of the proposed text of such 
 ***Confidential Treatment Requested 

  
 13.

 
announcement to the other Party for its prior review and comment. Any comments provided by such other Party will not be unreasonably disregarded. 

5.4 Agreement Terms. Except for public statements agreed to by the Parties or for disclosures that are in the reasonable judgment
of a Party required by applicable law or stock exchange listing requirements, the Parties agree that the material terms and the subject matter of this Agreement will be considered Confidential Information of both Parties. Notwithstanding the
foregoing, a Party shall have the right to disclose the terms of this Agreement: (a) to any Third Party retained by such Party to perform legal, accounting, engineering or similar services and who have a need to know such terms in order
to provide such services; and (b) as permitted by Section 5.2(c) and/or (d). 
 5.5 Equitable Remedies.
Each Party acknowledges and agrees that the other Party’s remedies at law for breach or threatened breach of any of the provisions of this Article 5 would be inadequate and, in recognition of that fact, in the event of any such breach or
threatened breach, it is agreed that, in addition to other remedies to which it may be entitled, the other Party will be entitled to equitable relief in the form of specific performance, temporary restraining order, temporary or permanent injunction
without the necessity of posting bond, or any other equitable remedy which may then be available; provided, that nothing herein contained will be construed as prohibiting the non-breaching Party from pursuing any other remedies available to it for
such breach or threatened breach, including recovery of damages from such breaching Party. 
 6. REPRESENTATIONS
AND WARRANTIES. 
 6.1 Representations and Warranties. Each Party represents and
warrants to the other Party as of the Execution Date, as well as on the Effective Date, that: 
 (a) Such Party is duly
organized, validly existing and in good standing under the laws of its jurisdiction or organization and has all requisite power and authority to carry on its business and to own and use the assets and properties owned and used by it in connection
with the Transaction Activities. 
 (b) Such Party has all requisite power and authority to execute and deliver this
Agreement and to perform its obligations hereunder. The execution and delivery of this Agreement by such Party and the performance by such Party of its obligations hereunder have been duly and validly authorized by all necessary action on the part
of such Party. This Agreement has been duly and validly executed and delivered by such Party and, assuming the due authorization, execution and delivery by the other Party, constitutes a valid and binding obligation of such Party enforceable against
such Party in accordance with its terms. 
 (c) The execution and delivery of this Agreement by such Party and the
performance by such Party of its obligations hereunder, does not and will not, as the case may be, (i) conflict with or violate any provision of the charter documents of such Party, (ii) conflict with, result in a breach of, constitute
(with or without due notice or lapse of time or both) a default under, result in the acceleration of, create in any party the 

  
 14.

 
right to accelerate, terminate, modify or cancel, or require any notice, consent or waiver under, any agreement (written or oral) or permit to which such Party is a party or by which it is bound,
or (iii) violate any applicable law. 
 (d) There is no action, suit, proceeding, claim, or investigation pending or
threatened against such Party, in any court or by or before any governmental authority, or before any arbitrator of any kind, which, if adversely determined, would restrict the ability of such Party to perform its obligations hereunder, and to such
Party’s knowledge, there is no basis for any such action, suit, claim, investigation, or proceeding. 
 (e) Such
Party is the exclusive owner of the Genomatica Background IP (with respect to Genomatica) or the Novamont Background IP (with respect to Novamont), and it has the right to grant the other Party the licenses granted under Article 4. 

(f) The Genomatica Background IP (with respect to Genomatica) or the Novamont Background IP (with respect to Novamont) is not
subject to any claims, encumbrances, liens, licenses, judgments and/or security interests that could reasonably be expected to have an adverse effect on the right to practice such Genomatica Background IP or Novamont Background IP, as applicable, to
produce BDO and sell, offer for sale and distribute such BDO in the Territory, and none of such Genomatica Background IP or Novamont Background IP, as applicable, is the current subject of any litigation, interference or opposition proceeding.

 (g) Such Party has, and will through the Term, cause its employees who work on the Transaction Activities to disclose
to it inventions and Intellectual Property within the scope of Genomatica Improvements, Novamont Improvements or New IP and to assign to it rights in such inventions and Intellectual Property. 

6.2 Disclaimer of Warranties. Except as specifically provided in this Agreement, each Party disclaims all warranties of any kind,
express or implied, to the fullest extent permitted by applicable law, including but not limited to the implied warranties of merchantability, fitness for particular purpose and non-infringement. NEITHER PARTY (NOR NEWCO) MAKES ANY REPRESENTATION OR
WARRANTY WITH REGARD TO ANY MATERIALS PROVIDED TO THE OTHER PARTY (OR TO NEWCO), THE SUCCESS OF THE TRANSACTION ACTIVITIES OR THE USEFULNESS OF ANY GENOMATICA IP (IN THE CASE OF GENOMATICA), NOVAMONT IP (IN THE CASE OF NOVAMONT) OR NEW IP.

 7. INDEMNIFICATION. 
 7.1 Indemnification by Genomatica. Genomatica shall indemnify, defend, and hold harmless Novamont and its Affiliates and their directors, officers, employees and agents, and their respective
successors, heirs and assigns, from and against any and all damages, losses, liabilities, judgments, awards, costs, and expenses of any nature whatsoever, including reasonable attorneys’ fees and court costs (collectively,
“Losses”), incurred by any of them as a result of any Third Party claims, actions, suits or 

  
 15.

 
proceedings arising from: (a) the offer for sale, sale or distribution of Products by Genomatica or its Affiliates; or (b) any breach of any representation, warranty,
covenant or agreement of Genomatica herein; except to the extent such Losses are directly attributable to the negligence or willful misconduct of Novamont or its Affiliates or fall within the scope of the indemnification obligations of Novamont set
forth in Section 7.2. 
 7.2 Indemnification by Novamont. Novamont shall – or cause Newco to – indemnify,
defend, and hold harmless Genomatica and its Affiliates and their directors, officers, employees and agents, and their respective successors, heirs and assigns, from and against any and all Losses incurred by any of them as a result of any Third
Party claims, actions, suits or proceedings arising from: (a) the retrofitting of the Facility or production, handling, storage, offer for sale, sale or distribution of Products by Novamont or its Affiliates (including Newco); or
(b) any breach of any representation, warranty, covenant or agreement of Novamont (or Newco) herein; except to the extent such Losses are directly attributable to non-performance of the Bioprocess and/or Microorganisms according to the
Performance Targets the negligence or willful misconduct of Genomatica or its Affiliates or fall within the scope of the indemnification obligations of Genomatica set forth in Section 7.1. 

7.3 Control of Defense. Except as specifically provided in this section, any person entitled to indemnification under this Article
7 shall give written notice to the indemnifying Party of any claims that may be subject to indemnification, promptly after learning of such claim, and the indemnifying Party shall assume the defense of such claims with counsel reasonably
satisfactory to the indemnified party. If such defense is assumed by the indemnifying Party with counsel so selected, the indemnifying Party will not be subject to any liability for any settlement of such claims made by the indemnified party without
its consent (but such consent will not be unreasonably withheld or delayed), and will not be obligated to pay the fees and expenses of any separate counsel retained by the indemnified party with respect to such claims. 

7.4 Remedies. No remedy set forth in this Agreement is intended to be exclusive of any other remedy. Each remedy shall be in
addition to every other remedy provided hereunder, or now or hereafter existing at law, in equity, by statute, or otherwise. 
 8.
TERM AND TERMINATION. 
 8.1 Conditions Precedent. Without prejudice for
the provisions contained in this Agreement in relation to the Run Test and to the common provisions contained in Articles 1, 5, 6, 7 and 9 and Sections 8.1 and 8.4, all of which provisions shall be effective as of the Execution Date, the
effectiveness of this Agreement is conditional upon fulfilment of both the following conditions: 
 (i) the execution by
Novamont and BIO-Italia S.p.A. of a notarial deed for the acquisition of the Facility by Novamont within 21 (twentyone) days from the Execution Date; and 

  
 16.

 (ii) the Run Test outcome being a Run Test Positive Result within 6 (six) months
from the Execution Date, provided that the Parties shall negotiate in good faith a possible postponement of this term should this be considered reasonable under the circumstances. Should the Run Test outcome not be a Run Test Positive Result within
6 (six) months from the Execution Date (or such later date as agreed in writing by the Parties), this Agreement shall not become effective and the provisions that became effective as of the Execution Date as set forth above shall terminate, except
to the extent that such provisions survive termination as provided in Section 8.4. 
 8.2 Term. Should the
conditions precedent under Section 8.1 be fulfilled, this Agreement shall remain in force until the earlier of 30 (thirty) years from the Effective Date or the time at which the Facility stops operating according to Section 8.3(f) below.

 8.3 Termination/Withdrawal by the Parties. This Agreement may be terminated: 

(a) by written agreement of Novamont and Genomatica; 
 (b) by Genomatica upon written notice to Novamont in the event of any material breach of any representation, warranty, covenant or agreement of Novamont contained in this Agreement, if Genomatica
has notified Novamont of the breach, and the breach has continued without cure for a period of thirty (30) days after the notice of breach; 
 (c) by Novamont upon written notice to Genomatica in the event of any material breach of any representation, warranty, covenant or agreement of Genomatica contained in this Agreement, if Novamont
has notified Genomatica of the breach, and the breach has continued without cure for a period of thirty (30) days after the notice of breach; 
 (d) by either Party upon written notice to the other Party in the event that the retrofitted Facility is not commissioned (i.e., the Commissioning Date does not fall) within eighteen
(18) months after the Effective Date, provided that the Parties shall negotiate in good faith a possible postponement of this term should this be considered reasonable under the circumstances; 

(e) by Novamont upon sixty (60) days prior written notice to Genomatica should it become clear during the retrofitting of the
Facility and before the expiry of the eighteen (18) months term under point (d) preceding, according to Novamont’s reasonable evaluation made in good faith on the basis of tests, that neither the Commissioning Performance Targets set
forth under Section II of Schedule 1.5 nor lower performance targets reasonably acceptable for Novamont can be achieved; or 

(f) by Novamont upon ninety (90) days prior written notice to Genomatica should Novamont decide to withdraw from this
Agreement in case Newco’s shareholders’ meeting resolve to cease Newco’s operations due to the supervened non-profitability of the Facility over a period of time of at least 1 (one) quarter, whether by winding up the company or
dismantling, selling or anyhow transferring the Facility to 

  
 17.

 
third parties (should there be no other facility operated by Newco, Novamont or its Affiliates in Bottrighe using Genomatica IP); provided that Genomatica and Novamont shall first discuss the
possibility of continuing activities in a manner other than through Newco before any withdrawal may occur. 
 8.4 Effect of
Termination. Upon termination of this Agreement pursuant to Section 8.3, all rights and obligations of the Parties (and Newco, as applicable) under this Agreement (including all licenses granted under Article 4) shall terminate, except
as provided in this Section 8.4. Upon termination of this Agreement, Genomatica shall have the right to remove at its cost any equipment or materials at the Facility that it has supplied or paid for, provided that it elects to exercise that
right within sixty (60) days after the date of termination. Termination of this Agreement shall not relieve or release either Party of any right or obligation which, at the time of such termination, has already accrued to such Party or which is
attributable to a period prior to such termination, nor will any expiration or termination of this Agreement preclude either Party from pursuing all rights and remedies it may have under this Agreement, at law or in equity, with respect to breach of
this Agreement. The provisions set forth in Sections 4.4, 4.5, 6.2 and 8.4 and Articles 1, 3, 5, 7 and 9 of this Agreement shall remain in full force and effect and survive any termination of this Agreement. The provisions set forth in
Sections 8 and 9.a. of Exhibit A of this Agreement shall remain in full force and effect and survive any termination of this Agreement for three (3) years from the date of such termination. 

8.5 Withdrawal by Genomatica. Genomatica may withdraw from the participation in the Transaction Activities as an as associated
party (associato) of a joint venture (associazione in partecipazione) after the expiry of a period of at least 10 (ten) years from the Effective Date. Such withdrawal shall be effective upon the delivery of written notice by Genomatica
to Novamont. Upon such withdrawal by Genomatica pursuant to this Section 8.5, all rights and obligations of the Parties (and Newco, as applicable) under Article 2 of this Agreement (including Exhibit A), Section 4.2 (if
then in effect) and Section 9.1 shall terminate, except for the provisions regarding the Licenses under Section 4 preceding which shall remain in full force between the Parties. Upon such withdrawal, Genomatica shall have the right to
remove at its cost any equipment or materials at the Facility that it has supplied or paid for, provided that it elects to exercise that right within sixty (60) days after the date of termination. Such withdrawal shall not relieve or release
either Party of any right or obligation which, at the time of such termination, has already accrued to such Party or which is attributable to a period prior to such termination. The provisions set forth in Sections 8 and 9.a. of
Exhibit A of this Agreement shall remain in full force and effect and survive any such withdrawal for three (3) years from the date of such withdrawal, and the provisions set forth in Sections 6 and 7 of Exhibit A
shall remain in full force and effect and survive any such withdrawal. 
 9. GENERAL TERMS. 

9.1 Non-Solicitation. During the Term and for a period of [...***...] years thereafter, unless otherwise agreed to by the
Parties, each Party agrees that it will not and will not permit its Affiliates to directly or indirectly solicit for employment or consulting any employee of the other Party or its Affiliates; provided that in no event will listing or 

***Confidential Treatment Requested 

  
 18.

 
advertising any employee or consultant position in any publicly available source or hiring or engaging any person who contacts a Party or its Affiliate based upon such listing or advertisement be
a breach of this Section 9.1. 
 9.2 Force Majeure. The Parties shall be exempt from liability in respect of any
failure to perform their obligations under this Agreement due to circumstances beyond their reasonable control, including but not limited to those arising from: (a) war, acts of terrorism, fire, epidemic, flood or other acts of God,
explosion, civil commotion, strike, lock-out or labor disturbances, acts, regulations or laws of any government, or failure of public utilities or common carriers; (b) inability to procure raw materials due to shortages of raw materials;
or (c) prevention from or hindrance in obtaining energy or other utilities. The Party so affected shall give written notice to the other Party of any such force majeure event and shall use its good faith efforts to avoid or remove such
causes of non-performance and to continue performance whenever such causes are removed. Should the event(s) of force majeure suffered by a Party extend beyond a twelve (12)-month period (or such longer period as agreed in writing by the Parties),
the Parties and Newco shall negotiate in good faith any amendment to this Agreement necessary to, as well any other action that may be useful to, overcome the force majeure situation; provided that the Party that has not suffered the force majeure
event(s) may withdraw from the participation in the Transaction Activities as a party of a joint venture (associazione in partecipazione) by written notice to the other Party at any time after the end of such twelve (12)-month period (or such
longer period as agreed in writing by the Parties), it being understood that, in case of such withdrawal: (i) Section 4 preceding – with the only exception of Section 4.2 (Exclusivity) – shall continue to remain valid
and effective for the remaining duration of the Term with reference to the Facility and any other facility whose construction has at least been agreed upon by the Parties before termination; 

9.3 Notices. Except as expressly set forth to the contrary in this Agreement: (i) all notices, requests,
or consents provided for or permitted to be given under this Agreement must be in writing and must be given either by registered or certified mail with return receipt, by delivering that writing to the recipient in person, by international courier,
or by facsimile or electronic mail transmission, provided that, in case of notices sent via facsimile or electronic mail, a receipt acknowledgement is sent by the recipient to the sender (also via facsimile or electronic mail transmission); and
(ii) a notice, request, or consent given under this Agreement is effective on receipt by the person to receive it. All notices, requests, and consents to be sent to a Party (or to an Affiliate thereof) must be sent to or made at the
following addresses (or such other address as that a Party may specify by notice to the other Party). 
  

							
	If to Novamont:	 	Novamont S.p.A.	  	
		 	Via G. Fauser 8	  	
		 	28100 Novara Italy	  	
		 	Attention: Dr. Catia Bastioli	  	
		 	Facsimile:	  	  
	  	
		 	Email: catia.bastioli@novamont.com	  	

  
 19.

							
	with a copy to:	 	Hi.Lex	  	
		 	C.so Venezia, 40	  	
		 	20121 – Milano	  	
		 	Attention: Mr. Fabio Cappelletti	  	
		 	Facsimile: 0039 02 49 533 539	  	
		 	Email: fabio.cappelletti@hilex.it	  	
			
	If to Genomatica, to:	 	Genomatica, Inc.	  	
		 	10520 Wateridge Circle	  	
		 	San Diego, CA 92121	  	
		 	Attention:	  	  
	  	
		 	Facsimile: (858) 824-1772	  	

							
		 	 Email:	  	  
	  	
			
	with a copy to:	 	Cooley LLP	  	
		 	4401 Eastgate Mall	  	
		 	San Diego, CA 92121	  	
		 	Attention: Kay Chandler	  	
		 	Facsimile: (858) 550-6420	  	
		 	Facsimile: kchandler@cooley.com	  	

 Whenever any notice is required to be given by law or this Agreement, a written waiver thereof, signed by the person
entitled to notice, whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice. 

9.4 Entire Agreement. This Agreement, together with the exhibits hereto, constitutes the entire agreement of the Parties
relating to the subject matter hereof and thereof and supersedes all prior contracts or agreements with respect to the subject matter hereof, whether oral or written, including the NDA and the letter of intent, dated
June     , 2011, between the Parties. 
 9.5 Effect of Waiver or Consent. A waiver or consent,
express or implied, to or of any breach or default by any Party in the performance by that Party of its obligations is not a consent or waiver to or of any other breach or default in the performance by that Party of the same or any other obligations
of that Party. 
 9.6 Amendment. This Agreement may be amended, modified, or supplemented only by a written instrument
duly executed by each of the Parties to, which instrument shall specifically indicate that it is the desire of the Parties to amend, modify or supplement this Agreement, and similarly may be waived only by a written instrument duly executed by the
waiving Party. 
 9.7 Assignment. 
 (a) Unless expressly provided otherwise in this Agreement, no Party shall have the right to assign or otherwise transfer its rights or obligations under this Agreement, in whole or in part, except
with the prior written consent of the other Party, 

  
 20.

 
not to be unreasonably withheld or delayed; provided, however, that a Party may, without the other Party’s written consent and subject to Section 9.7(b), assign or otherwise transfer
its rights or obligations under this Agreement, in whole, to: (i) a successor in interest to all or substantially all of the business of such Party relating to the subject matter of this Agreement, whether by merger, sale of stock, sale
of assets or otherwise, or (ii) any Affiliate. In the event of any assignment of this Agreement by a Party to its Affiliate pursuant to this Section 9.7, the assigning Party shall remain liable and responsible to the non-assigning
Party hereto for the performance and observance of all such rights and obligations by such Affiliate. Any assignment of this Agreement in contravention of this Section 9.7 shall be null and void. 

(b) Should Genomatica intend to assign or otherwise transfer its rights or obligations under this Agreement, in whole or in part,
to [...***...], whether directly or through an Affiliate to which it has previously assigned or transferred such rights or obligations, including a merger, tender offer, reorganization, consolidation or sale of stock in which such [...***...]
acquires more than fifty percent (50%) of the outstanding voting securities of Genomatica or a sale of all or substantially all of assets of Genomatica relating to the subject matter of this Agreement to such [...***...], and Novamont does not
provide prior written consent to such transaction, Genomatica will be entitled to complete such assignment or transfer by giving notice thereof to Novamont and Newco. In this event, Novamont (or Newco) may – but shall not be obliged to –
elect, at its sole discretion, to either: 
 (i) pay Genomatica a lump sum equal to a percentage equal to [...***...]%
([...***...] per cent) of the fair value of Genomatica’s 20% participation in the Profits and Losses of Newco according to Section 2.1(e) preceding and Exhibit A of this Agreement, such fair value to be negotiated in good faith by
the Parties with the result that the provision of Section 2.1(e) preceding and Exhibit A entitling Genomatica to 20% participation in the Profits and Losses of Newco shall no longer apply; or 

(ii) reduce Genomatica’s 20% participation in the Profits and Losses of Newco according to Section 2.1(e) preceding and Exhibit
A of this Agreement from 20% to [...***...]% ([...***...] per cent). 
 If the Parties cannot reach an agreement as
to the fair value mentioned under point (i) preceding, the following procedure shall apply. 
 Each Party shall appoint an
international investment bank or another expert in order to determine the above-mentioned fair value. In case the fair values determined by the appointed investment banks/experts differ by [...***...]% ([...***...] per cent) or less of
the higher value, the fair value for the purposes of this Agreement shall then be equal to [...***...]. Should the fair values determined by the appointed investment banks/experts differ by more than [...***...]% ([...***...] per
cent) of the higher value, [...***...] – or, failing an agreement [...***...], by the [...***...] – and such [...***...] 
 ***Confidential Treatment Requested 

  
 21.

 
[...***...] the fair value, and the fair value so determined shall represent the fair value for the purposes of this Agreement. 

9.8 Governing Laws. This Agreement shall be governed by and shall be construed in accordance with the laws of [...***...],
excluding any conflict-of-laws rule or principle that might refer the governance or the construction of this Agreement to the law of another jurisdiction, however (a) without prejudice for the application of the Italian corporate law
rules to Newco and Arts. 2549 ff. of the Italian civil code to the joint venture (associazone in partecipazione), and provided that (b) inventorship and ownership of inventions made by or on behalf of Genomatica or by or on behalf
of Novamont and Newco shall be governed by and construed in accordance with the laws of the United States (as to Genomatica) and the laws of Italy (as to Novamont and Newco); inventorship and ownership of inventions jointly obtained by or on behalf
of Genomatica and Novamont (including New IP) shall be governed by and construed in accordance with the laws of the United States. 
 9.9 Severability. If any provision of this Agreement or the application thereof to any person or circumstance is held invalid or unenforceable to any extent, the remainder of this Agreement and the
application of that provision to other persons or circumstances is not affected thereby and that provision shall be enforced to the greatest extent permitted by applicable law. 

9.10 Further Assurances. In connection with this Agreement and the transactions contemplated hereby, each Party shall execute and
deliver any additional documents and instruments and perform any additional acts that may be necessary or appropriate to effectuate and perform the provisions of this Agreement and those transactions. 

9.11 No Third Party Beneficiaries. The provisions hereof are solely for the benefit of the Parties and are not intended to, and
shall not be construed to, confer a right or benefit on any other person. 
 9.12 Counterparts. This Agreement may be
executed in any number of counterparts with the same effect as if all signing Parties had signed the same document. All counterparts shall be construed together and constitute the same instrument. Signature pages may be delivered by facsimile or
other electronic means. 
 9.13 Resolution of Disputes. 

(a) The Parties will use commercially reasonable efforts to resolve any dispute through good faith negotiations. If within thirty
(30) days of any dispute being notified to the other Party the dispute has not been satisfactorily concluded, then unless otherwise agreed, the Parties shall refer the dispute to the Chief Executive Officer of Novamont and the Chief Executive
Officer of Genomatica. If within thirty (30) of the dispute being referred to the individuals referenced in the prior sentence the dispute has not been satisfactorily concluded, then either Party may (but is not required to) refer the dispute
for resolution pursuant to Section 9.13(b). 
 ***Confidential Treatment Requested 

  
 22.

 (b) Following negotiations pursuant to Section 9.13(a), any remaining dispute,
controversy, or claim arising under, out of or relating to this Agreement (and subsequent amendments thereof), its validity, binding effect, interpretation, performance, breach or termination, including tort claims, shall be finally determined by
arbitration administered by the International Chamber of Commerce under its Arbitration Rules, as in force at the time when the arbitration is initiated. The arbitral tribunal shall consist of three (3) arbitrators, all of them appointed by the
International Chamber of Commerce taking into consideration the law governing the matters under dispute according to Section 9.8 above. The place of arbitration shall be London, England and the arbitration shall be conducted in the English
language. Judgment on the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. 
 9.14
Independent Contractor Status. Novamont and Genomatica agree that they and Newco shall each perform their duties under this Agreement as an independent contractor. Personnel employed or retained by each Party and by Newco who perform duties
related to this Agreement shall remain under the supervision, management, and control of such Party or Newco (as applicable). Except as expressly set forth herein, neither Party nor Newco shall have any right or authority to create any obligation,
warranty, representation or responsibility, whether express or implied, on behalf of the other Party or Newco (as applicable) in any manner whatsoever without the expressed written consent of the other Party or Newco (as applicable). Each of the
Parties and Newco shall be solely responsible for the compensation of all personnel who perform any activities on their behalf pursuant to this Agreement or any Transaction Activities. This Agreement does not create any company, partnership or any
other legal entity between the Parties or Newco (as applicable). 
 9.15 Interpretation. The Parties hereto confirm their
agreement that this Agreement, as well as any amendment hereto and all other documents related hereto, including legal notices, have been and shall be in the English language only. The headings and recitals used herein are for ease of reference and
information and do not affect the interpretation of the article or section to which they relate or the interpretation of this Agreement in any other respect. Words in the singular include the plural and vice versa, unless expressly or implicitly
limited. Unless the context otherwise requires, the term “including” shall mean “including, without limitation”. 
 9.16 Insurance. Each Party and Newco shall maintain a liability insurance program consistent with sound business practice and reasonable in light of its obligations under this Agreement.

 9.17 Limitation of Liability. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER OR ITS AFFILIATES FOR ANY SPECIAL
OR CONSEQUENTIAL DAMAGES, REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, IN TORT INCLUDING NEGLIGENCE, BY STATUTE OR UNDER ANY QUASI-CONTRACTUAL THEORY OF LIABILITY, EVEN IF A PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. The
foregoing limitations of liability and damages will not apply and nothing in this 

  
 23.

 
Agreement shall affect either Party’s (or Newco’s) liability for breach of any obligation specified in Article 5 or either Party’s indemnification obligations under Article 7.

 10. [...***...] 
 The Parties Agree that this Agreement [...***...]. [...***...], this Agreement shall be [...***...] and the Parties shall [...***...] in connection with this Agreement. 

[signature page follows] 
 ***Confidential Treatment Requested 

  
 24.

 IN WITNESS WHEREOF, the Parties caused
this Agreement to be executed by their duly authorized and empowered representatives as of the Execution Date. 
  

									
	NOVAMONT S.P.A.	 	GENOMATICA, INC.
					
	By:	 	 /s/ illegible
	 		 	By:	 	 /s/ William Baum

					
	Title:	 	 CEO
	 		 	Title:	 	 Executive Chairman

					
	Date:	 	December 7, 2011	 		 	Date:	 	December 7, 2011

 SIGNATURE PAGE TO JV AND
LICENSE AGREEMENT 

 SCHEDULE 1.5 

COMMISSIONING PERFORMANCE TARGETS 

SECTION I 

(Performance targets for the period comprised between the Run Test Positive Result and the Commissioning Date) 

AVERAGE FERMENTATION RESULTS OF [...***...] BATCHES 
 Titer = [...***...] 
 Rate = [...***....] 

			
		  	 [...***...]

		
		  	Yield = [...***...]

 SECTION II 
 (Performance targets for the period following the Commissioning Date ) 
 Titer =
[...***...] 
 Rate = [...***...] 
  [...***...] 
 Yield = [...***...] 

[...***...] 

[...***...] 

***Confidential Treatment Requested 

  

 SCHEDULE 1.35 

RUN TEST PERFORMANCE TARGETS 

AVERAGE FERMENTATION PERFORMANCE OF [...***...] FERMENTATION
BATCHES 
 Titer = [...***...] 
 Rate = [...***...] 
  [...***...] 

Yield = [...***...] 

***Confidential Treatment Requested 

  

 SCHEDULE 2.2 

INITIAL BUSINESS PLAN 

  
 A-1

 EXHIBIT A 

FINANCIAL TERMS 
 1. Definitions. In addition to the capitalized terms defined in the Agreement to which this Exhibit A is attached, the following capitalized terms shall have the meanings given to them in
this Section 1. 
 a. “Accounting Standards” means: (i) with reference to Genomatica and its
Affiliates, the generally accepted accounting principles in the United States or internationally, as appropriate, consistently applied and shall mean the international financial reporting standards (“IFRS”) at such time as IFRS
becomes the generally accepted accounting standard and applicable laws require that a Party use IFRS; and (ii) with reference to Novamont and its Affiliates (including Newco), the generally accepted accounting principles in Italy and
shall mean the financial reporting standards approved by the Organismo Italiano di Contabilità, consistently applied (it being understood that Newco shall use the same standards as Novamont). 

b. “Acquisition Expenses” means any and all costs and expenses that will be borne by Novamont and/or Newco for the
acquisition of the Facility up to a maximum of [...***...] Euros, including the purchase price and transaction costs (including non-deductible taxes and levies, costs of professionals hired in relation to the acquisition and due diligence
costs). 
 c. “Audited Party” shall have the meaning set forth in Section 9.a. 

d. “Business Plan” shall have the meaning set forth in Section 4.a. 

e. “Credit Amount” shall have the meaning set forth in Section 2. 

f. “Genomatica Underperformance Amount” means the amount determined in accordance with Schedule A-1 by which the
Credit Amount will be reduced in case of a Genomatica Underperformance Event. 
 g. “Genomatica Underperformance
Event” shall be deemed to occur if: (i) at the first testing to determine whether the Commissioning Date has occurred, the Commissioning Performance Targets of the retrofitted Facility as set forth under Section II of Schedule
1.5 are not totally or partially achieved due to facts or circumstances solely or primarily ascribable to Genomatica, and such issues are not resolved within sixty (60) days thereafter; and (ii) in case of partial achievement,
Novamont notifies in writing Genomatica of its acceptance of performance targets lower than the Commissioning Performance Targets. 
 h. “License Value” shall have the meaning set forth in Section 2. 
 i. “Novamont Underperformance Amount” means the amount determined in accordance with Schedule A-1 by which the Credit Amount will be increased in case of a Novamont Underperformance
Event. 
 j. “Novamont Underperformance Event” shall be deemed to occur if: (i) at the first
testing to determine whether the Commissioning Date has occurred, the Commissioning 
 ***Confidential Treatment Requested

  
 A-1

 
Performance Targets of the retrofitted Facility as set forth under Section II of Schedule 1.5 are not totally or partially achieved due to facts or circumstances solely or primarily ascribable to
non-compliance by Novamont (or Newco) with operating guidelines provided by Genomatica for performance of the Bioprocess at the Facility in the context of the retrofitting caused by evident negligence, and the related issues are not resolved within
sixty (60) days thereafter; and (ii) in case of partial achievement, Novamont notifies in writing Genomatica of its acceptance of performance targets lower than the Commissioning Performance Targets. 

k. “Profits/Losses” shall have the meaning set forth in Section 5.b. 

l. “Profit/Loss Statement” shall have the meaning set forth in Section 5.c. 

m. “Requesting Party” shall have the meaning set forth in Section 9.a. 

n. “Residual Amount” shall have the meaning set forth in Section 5.d. 

o. “Retrofit Expenses” means with respect to the Facility, the aggregate of internal and external costs of Novamont and
its Affiliates (including Newco) to retrofit the Facility to enable production of Products, including the construction and commissioning of the retrofitted Facility, which costs are incurred after the Effective Date and prior to commissioning of the
retrofitted Facility, calculated as follows: (i) to the extent that Novamont or its Affiliate performs all or any part of the work to retrofit the Facility, the direct material costs and direct labor costs, plus overhead reasonably
allocable to such activities; and (ii) to the extent that work to retrofit the Facility is performed by any Third Party, the out-of-pocket expenses paid by Novamont or its Affiliate for such work and the reasonably allocated direct labor
costs incurred by Novamont or its Affiliate in managing and overseeing the Third Party relationship, all as determined from the books and records of Novamont or its Affiliate in accordance with its Accounting Standards. For clarification, Retrofit
Expenses excludes any capital investment to build, construct or retrofit the Facility. Costs of Novamont to retrofit the Facility to enable production of Products incurred prior to the Effective Date, and deemed necessary to the retrofit of the
Facility, will be included in Retrofit Expenses, subject to proper documentation, upon written agreement of Genomatica and Novamont to be negotiated in good faith. 
 p. “Retrofitting Plan” shall have the meaning set forth in Section 4.a. 
 q. “Upfront License Payment” shall have the meaning set forth in Section 2. 

2. License Value. The Parties agree that the value to Novamont (and Newco) generated through the transactions contemplated by this Agreement,
taking into account: (i) [...***...]; (ii) [...***...]; and (iii) [...***...], is equal to Euro $17,500,000 (seventeen million five hundred thousand/00) (the “License Value”).
Novamont shall pay Genomatica Euro $2,500,000 (two million five hundred thousand/00) of the License Value (the “Upfront License Payment”) on the Effective Date in consideration of the exclusivity and other rights and licenses
granted to Novamont under the Agreement. The amount equal to the License Value minus the Upfront License Payment (the “Credit Amount”) shall be applied as a credit in 

***Confidential Treatment Requested 

  
 A-2

 
accordance with Section 3 and 5, and any portion of the Credit Amount that has not been applied as a credit in accordance with Section 3 and 5 shall be paid to Genomatica in accordance
with Section 5 following commissioning of the Facility. The Credit Amount shall be reduced by the Genomatica Underperformance Amount should a Genomatica Underperformance Event occur. If, however, any Genomatica Underperformance Event is later
resolved so that the Commissioning Performance Targets set forth under Section II of Schedule 1.5 are achieved, then the Credit Amount shall be increased by a portion of the Genomatica Underperformance Amount proportionally corresponding to the time
reduction in delay due to the resolution of such Genomatica Underperformance Event, as determined in accordance with Schedule A-1. The Credit Amount shall be increased by the Novamont Underperformance Amount should a Novamont Underperformance
Event occur. If, however, any Novamont Underperformance Event is later resolved so that the Commissioning Performance Targets set forth under Section II of Schedule 1.5 are achieved, then the Credit Amount shall be reduced by a portion of the
Novamont Underperformance Amount proportionally corresponding to the time reduction in delay due to the resolution of such Novamont Underperformance Event, as determined in accordance with Schedule A-1. Should Newco cease its operations
according to Section 8.3(e) of the Agreement, the remaining Credit Amount shall not be refunded to Genomatica, but any consideration for the sale or transfer of the Facility shall be posted in Newco’s financial statements and consequently
taken into account for the purposes of the Profits/Losses sharing mechanism governed under Section 5 below. Should Genomatica withdraw according to Section 8.5 or 9.7 of the Agreement, the remaining Credit Amount shall be refunded to
Genomatica. 
 3. Acquisition and Retrofitting of the Facility. Novamont and/or Newco shall bear all of the Acquisition Expenses and
Retrofit Expenses. Genomatica shall contribute to the Acquisition Expenses and Retrofit Expenses through a credit to Novamont (or Newco, as applicable) for an amount equal to 20% of the Acquisition Expenses and Retrofit Expenses borne by Novamont
and/or Newco up to a maximum amount of Acquisition Expenses and Retrofit Expenses set forth in the budget included in the Retrofitting Plan (the “Novamont Credit”). The Novamont Credit shall be settled against the Credit Amount by
way of the Profits/Losses sharing mechanism governed under Section 5 below. Should Newco cease its operations according to Section 8.3(e) of the Agreement, the above mentioned contribution shall not be refunded to Genomatica, but any
consideration for the sale or transfer of the Facility shall be posted in Newco’s financial statements and consequently taken into account for the purposes of the Profits/Losses sharing mechanism governed under Section 5 below. 

4. Retrofitting Plan and Business Plan – Commercialization. 
 a. Newco shall be responsible for the creation and implementation of a plan and budget for the retrofitting of the Facility based on the results of the Run Test (as may be updated or amended, the
“Retrofitting Plan”) and a business plan for the production and commercialization of Products in the Territory based on the Retrofitting Plan and on the initial business plan referred to under Paragraph 2.2 of the Agreement (as may
be updated or amended, the “Business Plan”). The Business Plan will include an annual budget, corresponding to the first year of such Business Plan, with key performance parameters and estimated costs and estimated Product sales.
The Business Plan will be updated by Newco at least each calendar semester to reflect changes as appropriate. 

  
 A-3

 b. Newco shall prepare and submit to Genomatica the initial draft of the Retrofitting Plan
prior to carrying out the retrofitting works and of the Business Plan no later than three (3) months prior to the earliest anticipated date of first commercialization of Products for review and discussion. 

c. The Retrofitting Plan and the Business Plan, including, without limitation, any substantive updates or amendments to such plans, must
be approved in writing by Novamont (or Newco) and Genomatica. Should a Party deny its approval in writing of the Retrofitting Plan, the Business Plan or any updates or amendments thereto within 15 (fifteen) days from a request of the other Party,
the Parties will attempt for a period of 15 (fifteen) days after such denial to overcome any issues that may have caused the disagreement by first discussing these issues at a meeting between their top managers. Minutes of such meeting will be
drafted specifying both the solved and unresolved issues. 
 d. In case of failure of this meeting to resolve all of the issues,
the Parties will make a second attempt by submitting the unresolved issues to a meeting to be held among their top managers and representatives of their respective main shareholder(s) that is/are financial institution(s) or investment fund(s) (or,
if a Party is then a public company, independent and non-executive members of such Party’s Board of Directors or other governing body) within 15 (fifteen) days after the date on which the meeting among top managers was held. Minutes of such
meeting will be drafted specifying both the solved and unresolved issues. Should the disagreement persist upon expiry of the last 15-days period above, the unresolved issues shall be submitted to an arbitrator appointed as follows. 

e. Within 7 (seven) days from the expiry of the last 15-days period above, Novamont shall submit in writing to Genomatica a list of three
preferred arbitrators to be chosen by it among the London-based subsidiaries/branches of the following management consultancy firms, provided that they have to be independent from Novamont: [...***...]. Within 7 (seven) days from receipt of
the above-mentioned list, Genomatica shall choose one of the three preferred arbitrators proposed by Novamont by notifying Novamont thereof, provided that such arbitrator has to be independent from Genomatica. 

f. The arbitrator shall notify its decision to the Parties within 30 (thirty) days from its appointment made by Genomatica (with a copy
to Novamont) fairly representing the unresolved issue(s) in accordance with the minutes of the above-mentioned meetings. The decision of the arbitrator shall be binding for the Parties as if it were the result of an agreement between the Parties.
The costs of the arbitration shall be shared by each Party as follows: [...***...]% by Genomatica and [...***...]% by Novamont (or Newco). 
 g. The price at which Products will be sold by Newco to the Parties (or their Affiliates) for resale in a given quarter shall be [...***...]. 

***Confidential Treatment Requested 

  
 A-4

 5. Profits/Losses. 
 a. Sharing of Profits/Losses. The Parties shall share the Profits/Losses eighty percent (80%) to Novamont and twenty percent (20%) to Genomatica, subject to the provisions of this
Section 5. 
 b. “Profits/Losses” shall be the net (after income taxes) profits/losses with respect to the
Transaction Activities as reflected in Newco’s yearly financial statements drafted in accordance with the Accounting Standards and duly approved at Newco’s shareholders’ meeting (and Novamont, as shareholder of Newco, shall approve
such financial statements only to the extent determined in accordance with this Agreement), adjusted as follows: 
 i. any
Acquisition Expenses and Retrofitting Expenses exceeding the budget for a given calendar year (included in the relevant Business Plan approved by Genomatica) by more than [...***...] percent ([...***...]%) shall be excluded for purposes
of calculating Profits/Losses; 
 ii. any costs of the arbitration provided under Section 4(f) preceding shall be excluded
for purposes of calculating Profits/Losses. 
 iii. any indemnity paid by Newco according to Section 7.2 of the Agreement
shall be excluded for purposes of calculating Profits/Losses. 
 For clarification purposes: 

 

	 	•	 	 the costs to be posted in Newco’s financial statements shall include amortization of Acquisition Expenses and Retrofitting Expenses, the portion
of the License Value pertaining to the relevant financial year, as well as all taxes and duties due by Newco including the income taxes due by Newco for the relevant financial year after possible settlement of taxable profits with previous
deductible losses). No costs relating to activities other than the Transaction Activities shall be posted in Newco’s financial statements; and 

  

	 	•	 	 the income to be posted in Newco’s financial statements shall include the price for the sale or disposition of the Products calculated in
accordance with Section 4.g, as well as any consideration for the sale or transfer of the Facility should Newco cease its operations according to Section 8.3(e) of the Agreement. 

c. Reporting. The reporting and determination of Profits/Losses and possible increases and/or reductions of the Credit Amount
according to Section 2 above shall be initially made for the first calendar semester (i.e. the period from January through June) of each year and finally assessed in relation to each entire calendar year and shall result from a document based
upon Newco’s yearly financial statements drafted in the English language to be prepared by Newco and submitted to Genomatica in substantially the form agreed to in writing by the Parties as of the Effective Date, as may be amended by written
agreement of the Parties (the “Profit/Loss Statement”). 
 d. Payment. Newco shall determine
Profits/Losses and possible increases and/or reductions of the Credit Amount according to Section 2 above according to the Profit/Loss 
 ***Confidential Treatment Requested 

  
 A-5

 
Statement and this Section 5 and deliver to Genomatica the Profit/Loss Statement for each calendar semester or entire year within sixty (60) days following the end of each calendar
semester. If the Profit/Loss Statement for the previous semester reflects a positive amount (a “Profit”), Newco shall make quarterly advance payments to Genomatica at the end of each quarter following delivery of the Profit/Loss
Statement equal to twenty percent (20%) of such Profit – each quarterly payment amounting to [...***...]% of the payment due for the entire relevant semester – and the final determination of the yearly Profits/Losses (and
possible increases and/or reductions of the Credit Amount according to Section 2 above) and any reconciling payment for the relevant calendar year shall be made on the basis of Profits/Losses calculated based upon the related yearly financial
statements duly approved by Newco’s shareholders’ meeting. If, for a given semester or year, the Profit/Loss Statement reflects a negative amount (a “Loss”), Genomatica shall not be required to make any payment to Newco to
the extent that any Credit Amount exists (taking into account any increases and/or reductions of the Credit Amount according to Section 2 above), but instead Newco shall settle the amount of Genomatica’s twenty percent (20%) share of
such Loss for such semester or year with a corresponding portion of the Credit Amount. To the extent that the Credit Amount has been fully settled, Genomatica shall make a payment to Newco equal to any portion of the Genomatica Underperformance
Amount that remains and has not been settled by reduction of the Credit Amount within thirty (30) days after receipt of the Profit/Loss Statement, and, consistent with the structure of the transaction as a joint venture (associazione in
partecipazione), Genomatica as the associated party (associato) shall not have any liability for any Loss in excess of such amounts (which amounts reflect Genomatica’s contribution to the joint venture). Following the Commissioning
Date, the Parties shall determine the net Credit Amount remaining after settlement of all amounts with the Credit Amount in accordance with this Section 5.d. through the end of the calendar semester in which the Commissioning Date occurred (the
“Residual Amount”). Newco shall pay Genomatica the Residual Amount in four equal installments, with the first installment due and payable thirty (30) days after end of the calendar semester in which the Commissioning Date
occurred and the remaining installments due on the first, second and third anniversaries of the Commissioning Date. The Residual Amount will be reconciled and adjusted, as necessary, at the end of each twelve (12) month period following the
Commissioning Date. If there are Losses for any calendar semester after the calendar semester in which the Commissioning Date occurred, the amount of any installment of the Residual Amount that has not yet been paid shall be settled with the amount
of Genomatica’s twenty percent (20%) share of such Losses. 
 6. Payment for Licenses of New IP.  

a. To Genomatica. In the event that Novamont (or Newco) grants any right or license to any Third Party to use New IP in the
Novamont Field (or, with the prior written consent of Genomatica, outside the Novamont Field), Novamont (or Newco) shall notify Genomatica in writing of the grant of such right or license, and shall provide Genomatica a copy of the agreement between
Novamont (or Newco) and such Third Party granting such right or license. Novamont (or Newco) shall notify Genomatica in writing of all amounts paid to Novamont or Newco in consideration of the grant of such right or license and shall pay Genomatica
[...***...] percent ([...***...]%) of all such amounts paid to Novamont or Newco within thirty (30) days of Novamont’s or Newco’s receipt of such payments. 

***Confidential Treatment Requested 

  
 A-6

 b. To Novamont. In the event that Genomatica grants any right or license to any Third
Party to use New IP outside the Novamont Field (or, with the prior written consent of Novamont, in the Novamont Field), Genomatica shall notify Novamont in writing of the grant of such right or license, and shall provide Novamont a copy of the
agreement between Genomatica and such Third Party granting such right or license. Genomatica shall notify Novamont in writing of all amounts paid to Genomatica or its Affiliate in consideration of the grant of such right or license and shall pay
Novamont (or Newco) [...***...] percent ([...***...]%) of all such amounts paid to Genomatica or Newco within thirty (30) days of Novamont’s or Newco’s receipt of such payments. 

7. Payment to Designated Account. All payments due under this Agreement shall be payable in Euro. Each Party or Newco shall make all payments to
the other Party (or to Newco) by bank wire transfer in immediately available funds to an account designated in writing by the Party to whom such payment is due (or by Newco). Novamont shall be responsible for any payments due and payable by Newco to
Genomatica in the event that Newco does not have available funds to make any such payment. 
 8. Books and Records. Each Party agrees to
keep (and cause its applicable Affiliates to keep) proper records and books of account in accordance with its respective Accounting Standards, in order to allow the other Party to verify all information necessary for the accurate determination of
payments to be made in accordance with this Agreement by way of the auditing procedure set forth under Section 9 below Such records shall be maintained for three (3) years after the date of the applicable payment to which such records
relates. 
 9. Audit. 
 a. Audit Procedures and Timing. Upon the written request of Novamont or Newco (with respect to information of Genomatica necessary for the accurate determination of payments to be made in
accordance with this Agreement) or Genomatica (with respect to sales of Products by Novamont and its Affiliates (including, without limitation, Newco) upon which the calculation of Profits/Losses are based, all amounts paid to Novamont or its
Affiliates (including, without limitation, Newco) in consideration of the grant of any right or license to use New IP in the Novamont Field, and all other information necessary for the accurate determination of payments to be made in accordance with
this Agreement) (as applicable, the “Requesting Party”), and not more than once in each calendar year, the other Party (the “Audited Party”) shall permit an independent certified public accounting firm of nationally
recognized standing selected by the Audited Party and reasonably acceptable to the Requesting Party to have access during normal business hours to such of the records of the Audited Party and its applicable Affiliates as may be reasonably necessary
to verify the accuracy of the payments due and costs incurred under this Agreement, including the reports of Profits/Losses under this Agreement, for any period ending not more than three (3) years prior to the date of such request. The
accounting firm shall disclose to the Requesting Party only whether the payments due and costs incurred, including any payment reports (as applicable), are correct or incorrect and the specific details concerning any discrepancies. No other
information shall be provided to the Requesting Party without the prior consent of the Audited Party unless disclosure is required by applicable law, regulation or judicial order. The Audited Party is entitled to require the accounting firm to
execute a reasonable confidentiality agreement prior to commencing any such audit. 
 ***Confidential Treatment Requested

  
 A-7

 b. Payments. The fees charged by such accounting firm shall be paid by the Requesting
Party; provided, however, that if the audit uncovers an underpayment by the Requesting Party that exceeds five percent (5%) of the total payment owed, then the fees of such accounting firm shall be paid by the Audited Party. Any underpayments
or unpaid amounts discovered by such audit or otherwise will be paid promptly by the Audited Party within thirty (30) days of the date the Requesting Party delivers to the Audited Party such accounting firm’s written report, or as
otherwise agreed upon by the Parties, plus interest calculated in accordance with Section 11. In the event of an overpayment by the Audited Party, the Requesting Party shall be entitled to credit such overpayment against any subsequent payment
due to the Audited Party under this Agreement. 
 10. Taxes. A Party (or Newco) receiving payment under this Agreement shall pay any and
all income or taxes levied on account of royalties and other payments it receives hereunder. If laws or regulations require that taxes be withheld, the paying Party will deduct such taxes from the amount due to the Party to whom such payment is due,
pay such taxes to the proper tax authority, and send evidence of the obligation together with proof of payment to the Party to whom such payment is due promptly after making such payment. 
 11. Late Payments. Payments not remitted or deposited by the due date shall bear interest to the extent permitted by applicable law at the then-current euribor (Euro Interbank Offered Rate) plus
[...***...] percent ([...***...]%) established by CitiBank, as published in The Wall Street Journal, calculated on the number of days such payment is delinquent. The payment of such interest shall not limit the Party entitled to receive
such payment from exercising any other rights it may have as a consequence of the lateness of any payment. 
 ***Confidential
Treatment Requested 

  
 A-8

 SCHEDULE A-1 

GENOMATICA UNDERPERFORMANCE AMOUNT CALCULATION 

Genomatica Underperformance is the result of higher than target BDO costs, which will be calculated, based upon [...***...] as measured against the
performance targets in Schedule 1.5. The Genomatica organism performance will be calculated on [...***...] basis, and if the combined BDO costs are higher than the target costs, the credit to Novamont will calculated using the Underperformance
Calculation Method, and Genomatica will submit to Novamont the calculated Underperformance Amount for Novamont agreement and payment. 

Underperformance Calculation Method: 
 Underperformance Amount(€) = [...***...] 
 Underperformance Credit
(€/kg) = [...***...] 
 Wherein: 
 [...***...] 
 ***Confidential Treatment Requested

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