Document:

EX-10.2

 Exhibit 10.2 

NINTH AMENDMENT TO PLAIN ENGLISH SECURITY AGREEMENT 
  

This Ninth Amendment to Plain English Security Agreement (this “Amendment”) is made and entered into as of December 7,
2015, by and among GEVO, INC., a Delaware corporation (“Guarantor” or “You”), and TRIPLEPOINT CAPITAL LLC, a Delaware limited liability company (“Secured Party” or “Us”; together
with Guarantor, the “Parties”). 
 RECITALS 

A.        Guarantor and Secured Party entered into that certain Plain English Security
Agreement dated as of September 22, 2010, as amended by that certain First Amendment to Plain English Security Agreement dated as of October 20, 2011, that certain Second Amendment to Plain English Security Agreement dated as of
June 29, 2012, that certain Third Amendment to Plain English Security Agreement dated as of July 11, 2012, that certain Fourth Amendment to Plain English Security Agreement dated as of December 11, 2013, that certain Consent Under and
Third Amendment to Amended and Restated Plain English Growth Capital Loan and Security Agreement and Omnibus Amendment to Loan Documents dated as of May 9, 2014, that certain Fifth Amendment to Plain English Security Agreement dated as of
July 31, 2014, that certain Sixth Amendment to Plain English Security Agreement dated as of January 28, 2015, that certain Seventh Amendment to Plain English Security Agreement dated as of May 13, 2015, and that certain Eighth
Amendment to Plain English Security Agreement dated as of November 11, 2015 (including all annexes, exhibits and schedules thereto, and as the same may be further amended, restated, supplemented or otherwise modified from time to time, the
“Security Agreement”), pursuant to which Guarantor granted a security interest in the Collateral to secure the payment and performance in full of all the Secured Obligations. Unless otherwise defined herein, capitalized terms or
matters of construction defined or established in the Security Agreement shall be applied herein as defined or established therein. 

B.        Guarantor and Secured Party have agreed to make certain amendments to the
Security Agreement. 
 NOW, THEREFORE, in consideration of the premises and of the covenants contained herein and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

AGREEMENT 

1.         Amendments to Security Agreement. 

(a)      Section 1 of the Security Agreement is hereby amended by adding the following
definitions in the appropriate alphabetical order to such Section: 
   “The term
“2015 4Q Pre-Funded Warrants” has the meaning specified therefor in the Loan Agreement.” 

  “The term “2015 4Q Pre-Funded Warrant Agreements” has the meaning specified
therefor in the Loan Agreement.” 

 (b)      The definition of “Merger
Event” contained in Section 1.3 of the Security Agreement is hereby amended and restated in its entirety as follows: 

  “1.3  The term “Merger Event” means (i) any reorganization,
consolidation or merger (or similar transaction or series of transactions) by You, with or into any other Person; (ii) any transaction, including the sale or exchange of outstanding shares of Your Stock, in which the holders of Your Stock
immediately before consummation of such transaction or series of related transactions do not, immediately after consummation of such transaction or series of related transactions, retain Stock representing at least 50% of the voting power of the
surviving entity of such transaction or series of related transactions (or the parent entity of such surviving entity if such surviving entity is wholly owned by such parent entity), in each case without regard to whether You are the surviving
entity, (iii) the sale, license or other disposition of all or substantially all of Your assets, or (iv) the occurrence of any “Extraordinary Transaction” (or similar defined term) under and as defined in any of the 2013 Warrant
Documents, 2014 Warrant Documents, 2015 Warrant Documents, 2015 Additional Warrant Agreement, 2015 4Q Warrant Agreement or 2015 4Q Pre-Funded Warrant Agreement.” 

(c)      Clause (b) of the definition of Permitted Indebtedness in Section 1 of the
Security Agreement is hereby amended and restated in its entirety as follows: 
 “(b) (i) Indebtedness incurred
by You under the 2013 Warrants, the 2014 Warrants, the 2015 Warrants, the 2015 Additional Warrants, the 2015 4Q Warrants and the 2015 4Q Pre-Funded Warrants and (ii) Indebtedness of You disclosed on Schedule P-1 attached hereto;”

 (d)      Section 5.9 of the Security Agreement is hereby amended by amending and
restating clauses (h) and (i) thereof in their entirety as follows: 
 “(h) You may purchase the 2014
Warrants, the 2015 Warrants, the 2015 Additional Warrants, the 2015 4Q Warrants and the 2015 4Q Pre-Funded Warrants from the holder of any 2014 Warrant, 2015 Warrant, 2015 Additional Warrant, 2015 4Q Warrant or 2015 4Q Pre-Funded Warrant,
respectively, that exercises its right to require You to purchase such Warrant pursuant to its terms;” 
 “(i)
You may pay Cash in lieu of issuing fractional shares of common Stock arising out of the conversion of convertible securities (including the Convertible Notes (or any Refinancing Indebtedness in respect thereof) or Permitted Conversions) or the
exercise of any 2013 Warrant (as in effect as of its issuance date), any 2014 Warrant (as in effect as of its issuance date), any 2015 Warrant (as in effect as of its issuance date), any 2015 Additional Warrant (as in effect as of its issuance
date), any 2015 4Q Warrant (as in effect as of its issuance date), any 2015 4Q Pre-Funded Warrant (as in effect as of its issuance date) or any other warrants; and” 

(e)      Section 5.14 of the Security Agreement is hereby amended and restated in its
entirety as follows: 
 5.14          Additional
Notices.   You will provide to Us promptly, and in any event within three (3) Business Days after the receipt by You, any notice from any holder of any 2013 Warrant, 2014 Warrant, 2015 Warrant, 2015 Additional Warrant, 2015
4Q Warrant or 2015 4Q Pre-Funded Warrant that 

 
such holder is exercising its right to require You or any successor entity to purchase such 2013 Warrant, 2014 Warrant, 2015 Warrant, 2015 Additional Warrant, 2015 4Q Warrant or 2015 4Q
Pre-Funded Warrant pursuant to its terms. 
 2.         Representations and
Warranties.    Guarantor hereby represents and warrants to Secured Party that each of the representations and warranties contained in Section 4 of the Security Agreement are true and correct in all material respects as
of the date hereof, except such representations and warranties that relate expressly to an earlier date, in which case they are true and correct in all material respects as of such earlier date, in each case, after giving effect to this Amendment.

 3.         Conditions to Effectiveness.   This
Amendment shall be effective upon receipt by Secured Party of this Amendment duly executed by the parties hereto. 

4.         Recitals.  The recitals to this Amendment shall
constitute a part of the agreement of the parties hereto. 
 5.        Consent to
Jurisdiction and Venue.  All judicial proceedings arising in or under or related to this Amendment may be brought in any state or federal court of competent jurisdiction located in the State of California. By execution and delivery of
this Amendment, each party hereto generally and unconditionally: (a) consents to personal jurisdiction in San Mateo County, State of California; (b) waives any objection as to jurisdiction or venue in San Mateo County, State of California;
(c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Amendment. 

6.        Entire Agreement.   This Amendment, together with the
Security Agreement and the other Loan Documents, is the entire agreement between the parties hereto with respect to the subject matter hereof. This Amendment supersedes all prior and contemporaneous oral and written agreements and discussions with
respect to the subject matter hereof. 
 7.        Mutual Waiver Of Jury Trial;
Judicial Reference.    Because disputes arising in connection with complex financial transactions are most quickly and economically resolved by an experienced and expert person and The Parties wish applicable state and
federal laws to apply (rather than arbitration rules), The Parties desire that their disputes be resolved by a judge applying such applicable laws. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES SPECIFICALLY WAIVES ANY RIGHT THEY MAY
HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY YOU AGAINST US OR OUR ASSIGNEE OR BY US OR OUR ASSIGNEE AGAINST YOU. IN THE
EVENT THAT THE FOREGOING JURY TRIAL WAIVER IS NOT ENFORCEABLE, ALL CLAIMS, INCLUDING ANY AND ALL QUESTIONS OF LAW OR FACT RELATING THERETO, SHALL, AT THE WRITTEN REQUEST OF ANY PARTY, BE DETERMINED BY JUDICIAL REFERENCE PURSUANT TO THE CALIFORNIA
CODE OF CIVIL PROCEDURE (“REFERENCE”). THE PARTIES SHALL SELECT A SINGLE NEUTRAL REFEREE, WHO SHALL BE A RETIRED STATE OR FEDERAL JUDGE. IN THE EVENT THAT THE PARTIES CANNOT AGREE UPON A

 
REFEREE, THE REFEREE SHALL BE APPOINTED BY THE COURT. THE REFEREE SHALL REPORT A STATEMENT OF DECISION TO THE COURT. NOTHING IN THIS SECTION SHALL LIMIT THE RIGHT OF ANY PARTY AT ANY TIME TO
EXERCISE LAWFUL SELF-HELP REMEDIES, FORECLOSE AGAINST COLLATERAL OR OBTAIN PROVISIONAL REMEDIES. THE PARTIES SHALL BEAR THE FEES AND EXPENSES OF THE REFEREE EQUALLY UNLESS THE REFEREE ORDERS OTHERWISE. THE REFEREE SHALL ALSO DETERMINE ALL ISSUES
RELATING TO THE APPLICABILITY, INTERPRETATION, AND ENFORCEABILITY OF THIS SECTION. THE PARTIES ACKNOWLEDGE THAT THE CLAIMS WILL NOT BE ADJUDICATED BY A JURY. THIS WAIVER EXTENDS TO ALL SUCH CLAIMS, INCLUDING CLAIMS THAT INVOLVE PERSONS OTHER THAN
YOU AND US; CLAIMS THAT ARISE OUT OF OR ARE IN ANY WAY CONNECTED TO THE RELATIONSHIP BETWEEN YOU AND US; AND ANY CLAIMS FOR DAMAGES, BREACH OF CONTRACT, SPECIFIC PERFORMANCE, OR ANY EQUITABLE OR LEGAL RELIEF OF ANY KIND, ARISING OUT OF THIS
AGREEMENT. 
 8.         Signatures.   This Amendment may
be executed in any number of counterparts, each of which will be deemed an original, but all such counterparts together constitute one and the same instrument. This Amendment may be executed and delivered by facsimile or transmitted electronically
in either Tagged Image Format Files (“TIFF”) or Portable Document Format (“PDF”) and, upon such delivery, the facsimile, TIFF or PDF signature, as applicable, will be deemed to have the same effect as if the
original signature had been delivered to the other party. 

9.         Costs and Expenses.   Guarantor reaffirms its
obligations to pay, in accordance with the terms of Section 19 of the Security Agreement, all reasonable costs and expenses of Secured Party in connection with the preparation, negotiation, execution and delivery of this Amendment and all other
Loan Documents entered into in connection herewith. 

10.       Effect.  Upon the effectiveness of this Amendment, from and
after the date hereof, each reference in the Security Agreement to “this Agreement,” “hereunder,” “hereof,” or words of like import shall mean and be a reference to the Security Agreement as amended hereby and each
reference in the other Loan Documents to the Security Agreement, “thereunder,” “thereof,” or words of like import shall mean and be a reference to the Security Agreement as amended hereby. 

11.       Conflict of Terms.   In the event of any inconsistency
between the provisions of this Amendment and any provision of the Security Agreement, the terms and provisions of this Amendment shall govern and control. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 IN WITNESS WHEREOF, the undersigned has caused this Amendment to be executed and
delivered as of the date first above written. 
  

			
	“Guarantor”
	
	GEVO, INC.

  

			
	By: 	 	    /s/ Mike Willis

	
	Name: Mike Willis
	Title: Chief Financial Officer

  

			
	“Secured Party”
	
	TRIPLEPOINT CAPITAL LLC

  

 

			
	By: 	 	    /s/ Sajal Srivastava

	
	Name: Sajal Srivastava
	Title: Chief Operating OfficerMOJO
    ORGANICS, INC.
	101
    Hudson Street
	Jersey
    City

 

December
8, 2015

 

Richard
Seet

 

		Re:	Settlement
                                         and Release

 

Dear
Mr. Seet:

 

Reference
is hereby made to that certain Employment Agreement and that certain Second Amended and Restated Restricted Stock Agreement between
Richard Seet ("Seet"), and MOJO Organics, Inc., a Delaware Corporation (the "Company") dated December 4, 2013
(collectively, the “Agreements”). Pursuant to the Agreements, among other items, Seet could earn an aggregate amount
of 1,165,251 shares of common stock of the Company in three tranches of 388,417 shares represented by certificate numbers 497,
498 and 499 upon the Company achieving revenue targets of $7,500,000, $15,000,000 and $22,500,000 as well as certain business
objectives outlined in the Agreements (the “Seet Shares”). All share amounts reflect the 10:1 reverse stock split
implemented by the Company on April 1, 2013.

 

By
executing this letter, the parties agree to (i) terminate the Agreements and all obligations set forth therein; (ii) Seet shall
return certificate numbers 497, 498 and 499 representing the Seet Shares to the Company for cancellation and Seet shall provide
an executed medallion guaranteed stock power and all other documents that the Company will need to cancel the certificates representing
the Seet Shares; and (iii) the Company will issue to Seet 582,626 shares of restricted common stock (the "Settlement Shares")
of the Company which will be subject to the lock up legend set forth below. The Settlement Shares shall be issued in four certificates
with each certificate representing 145,656 of the Settlement Shares.

 

The
execution of this letter agreement will be the full and final settlement of any past, present or future compensation, whether
cash or equity, owed to Seet under the Agreements and the Agreements between the parties shall be terminated. In consideration
for entering into this letter agreement and other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, Seet, on his own behalf and on behalf of any entities which are controlled by Seet, does, hereby release and discharge
the Company and each of its respective officers, directors, affiliates, agents, counsel, employees vendors, investors, and subsidiaries
and their respective administrators, successors and assigns from any and all actions, causes of action, suits, debts, sums of
money, accounts, reckonings, notes, bonds, warrants, bills, specialties, covenants, contracts, controversies, agreements, liabilities,
obligations, undertakings, promises, damages, claims, compensation and demands whatsoever, in law, admiralty or equity which against
them or any of them Seet and his affiliates, executors, administrators, successors and assigns ever had, now have or may in the
future can, shall or may have against the Company and affiliate of them, for, upon or by reason or any matter, cause or thing
whatsoever from the beginning of the world to the date of this release.

 

Seet
agrees that he shall not transfer, offer, pledge, sell, contract to sell, grant any options for the sale of or otherwise dispose
of, directly or indirectly, any Settlement Shares through the two year anniversary of the Company generating $5,000,000 in revenue
during any 12 month period. Notwithstanding the foregoing, upon the requirements of Rule 144 being satisfied these restrictions
above shall not apply to the sale by Seet of up to 145,656 of the Settlement Shares per quarter. All certificates representing
the Settlement Shares upon delivery and any certificates subsequently issued with respect thereto or in substitution therefor
shall bear a legend substantially as follows, in addition to any legend the Company determines is required pursuant to any applicable
legal requirement including the standard legend required under the Securities Act of 1933, as amended:

 

"The
shares represented by this certificate may not be offered, sold, pledged, transferred or otherwise disposed of except in accordance
with the requirements of the Securities Act of 1933, as amended, and the other conditions specified in that certain letter agreement
dated as of November 16, 2015 copies of which the Company will furnish, without charge, to the holder of this certificate upon
written request therefor."

 

The
Company, at its discretion, may cause a stop transfer order to be placed with its transfer agent(s) with respect to the certificates
representing the Settlement Shares upon issuance.

 

We
kindly request that Seet execute this letter below indicating that Seet agrees with the above and acknowledging that Seet (i)
is an accredited investor as such term is defined under Rule 501 under Regulation D of the Securities Act of 1933, as amended,
(ii) is sufficiently experienced in business and financial matters to evaluate the merits and risks of this transaction, (iii)
acknowledges that acquiring the Settlement Shares involves a high degree of risk, are aware of the risks and further acknowledges
that it can bear the economic risk of the Settlement Shares including the total loss of the investment and (iv) has received answers
from management regarding all questions relating to the Company and its acquisition of the Settlement Shares.

 

	 	 	Sincerely,
	 	 	 
	 	 	MOJO Organics, Inc.
	 	 	 
	 	By:	/s/
    Glenn Simpson
	 	Name:	Glenn Simpson
	 	Title:	Chairman and CEO
	 	 	 
	AGREED AND ACKNOWLEDGED:	 	 
	 	 	 
	/s/
    Richard Seet	 	 	 
	Richard Seet

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