Document:

Joint Development Agreement

 Exhibit 10.22 
 CONFIDENTIAL TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS 
 DOCUMENT HAVE
BEEN OMITTED PURSUANT TO A REQUEST FOR 
 CONFIDENTIAL TREATMENT AND, WHERE APPLICABLE, HAVE BEEN MARKED 

WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE 

CONFIDENTIAL MATERIAL HAS BEEN FILED SEPARATELY WITH 
 THE SECURITIES AND EXCHANGE COMMISSION. 
 JOINT DEVELOPMENT AGREEMENT

 This Joint Development Agreement (“Agreement”) is entered into as of May 2, 2011 (the
“Effective Date”), by and between Bunge Global Innovation, LLC, a Delaware limited liability company with a principal place of business at 50 Main Street, White Plains, NY 10606 (“Bunge”) and Solazyme, Inc., a
Delaware company with a principal place of business at 225 Gateway Boulevard, South San Francisco, CA 94080 (“Solazyme”). 
 W I T N E S S E T H: 
 WHEREAS, Bunge and its affiliates are a global processor of soybeans, rapeseed, canola, sunflower seeds, corn, wheat, sugar cane and other agricultural commodities used to make products and
ingredients with numerous applications; 
 WHEREAS, Solazyme is a renewable oil and bioproducts company with expertise
and intellectual property in the area of the use of algae and yeast as biocatalysts for converting carbon sources into lipids in non-photosynthetic processes; 
 WHEREAS, certain affiliates of Bunge have access to feedstock, such as sugar cane, that could be useful in conjunction with Solazyme’s microbial biotechnology to develop and commercialize
products in the Brazilian oleochemical and fuels markets; 
 WHEREAS, Solazyme and Bunge are interested in jointly
developing and potentially commercializing microbe-derived products in the Brazilian oleochemical and fuels markets; and 

WHEREAS, Solazyme and Bunge desire to enter into a definitive agreement to conduct research and development on the terms and
conditions set forth below. 
 NOW, THEREFORE, in consideration of the agreements and obligations set forth herein and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, do hereby agree as follows: 
 ARTICLE 1 
 DEFINITIONS 

1.1 Defined Terms. Capitalized terms used in this Agreement shall have the meanings specified herein or in
Exhibit A. 
 1.2 Interpretation. Whenever the context requires, any pronoun shall include the corresponding
masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” All references to “Party” and
“Parties” shall be deemed references to Bunge and Solazyme. Except as specifically otherwise provided in this Agreement, a reference to an Article, Section or Exhibit is a reference to an Article, Section or Exhibit of
this Agreement, and the terms “hereof,” “herein,” and other like terms refer to this Agreement as a whole, including the Exhibits. The term “or” is 

  
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used in its inclusive sense (“and/or”). The terms “Dollars” and “$” shall mean United States Dollars. 

1.3 Headings. The division of this Agreement into Articles and Sections and the insertion of headings are for convenience of
reference only and shall not affect the construction or interpretation of this Agreement. 
 ARTICLE 2 

RESEARCH AND DEVELOPMENT COMMITTEE 
 2.1 Establishment of Research and Development Committee. Solazyme and Bunge shall establish a research and development committee (the “Research and Development Committee”) to
oversee the conduct of the Research and Development Program, monitor research and development progress under this Agreement, and facilitate the exchange of information relating to the Research and Development Program between the Parties. 

2.2 Membership of Research and Development Committee. The Research and Development Committee shall be comprised of two
(2) representatives from each Party, or such other equal number of representatives as the Parties may from time to time agree in writing, with each Party’s representatives selected by the Party. Each Party shall have one vote on the
Research and Development Committee. Either Party may replace its respective Research and Development Committee members at any time, upon written notice to the other Party. 
 2.3 Meetings. During the Research Program Term, the Research and Development Committee shall meet quarterly, or as mutually agreed by the Parties, at locations agreed by the Parties. Upon advance
written consent of other Party, other representatives of a Party may attend Research and Development Committee meetings as nonvoting observers. Research and Development Committee members and a Party’s non-voting observers may participate in any
such meeting in person, by telephone, or by video conference. The Parties shall agree upon which Party will prepare the minutes of a particular meeting at such meeting. The assigned Party shall prepare minutes for such meeting in advance of the next
Research and Development Committee meeting and the Research and Development Committee shall review, revise if necessary, and approve such minutes at such next Research and Development Committee meeting. 

2.4 Decision Making. Decisions of the Research and Development Committee shall be made by approval of the members of each
Party’s Research and Development Committee representatives present at a meeting; provided, however, that at least one (1) member of each Party must be present at such meeting. In the event the Research and Development Committee is
unable to resolve an issue, it may be referred by either Party to the senior most executive for the relevant business unit of each of the Parties, who shall meet to discuss and attempt to resolve the matter within thirty (30) days of the
referral. 

  

					
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 ARTICLE 3 

RESEARCH AND DEVELOPMENT 
 3.1 Research and Development Program. Subject to the terms and conditions of this Agreement, Solazyme and Bunge shall conduct the Research and Development Program in accordance with the agreed upon
written plan attached as Exhibit B, which describes the research and development activities to be conducted by each Party in the Research and Development Program (the “Research and Development Plan”). The Research and
Development Plan may be amended only by mutual agreement of the Parties. 
 (a) Responsibility – Solazyme. During
the term of the Research and Development Program, Solazyme shall use commercially reasonable efforts to conduct its activities as set forth in the Research and Development Plan. Notwithstanding any other provision of this Agreement, Solazyme shall
not, without its written consent, be required to perform research or development activities other than those set forth in the Research and Development Plan. 
 (b) Responsibility – Bunge. During the term of the Research and Development Program, Bunge shall use commercially reasonable efforts to conduct its activities as set forth in the Research and
Development Plan. Notwithstanding any other provision of this Agreement, Bunge shall not, without its written consent, be required to perform research or development activities other than those set forth in the Research and Development Plan.

 3.2 Laboratory Facility. In order to help determine the potential commercial viability of the Solazyme Background
Technology, Bunge Background Technology, and all Program Technology (collectively, the “Enabling Technology”), Bunge will build, equip and operate, at its own expense, a laboratory facility (the “Laboratory
Facility”) designed to explore the feasibility of the production of lipid rich biomass from Brazilian sugar cane feedstock, as further described in the Research and Development Plan. The Laboratory Facility shall consist, at a minimum, of
laboratory-scale fermentation and mill feed treatment and preparation capable of helping to evaluate performance as measured against the Technical Milestones. The Laboratory Facility shall be sited at one of Bunge’s Affiliate’s sugar cane
mills in Brazil. Bunge expects that initial operation at the Laboratory Facility would occur within seven (7) months after the Effective Date (which is expressly acknowledged by the Parties as a target date, not an enforceable deadline).

 3.3 Feedstock Supply. Notwithstanding Section 3.2, Bunge will use commercially reasonable efforts to commence
delivery of representative mill feedstocks to Solazyme’s laboratory facilities in South San Francisco, California not later than June 1, 2011. Such deliveries of representative mill feedstock shall continue to be made until the Technical
Milestones have been achieved, on a frequency and in such amounts as shall be mutually agreed between the Parties. 
 3.4
Demonstration Facility. In addition, at Bunge’s election, Bunge may build, equip and operate a pilot size (greater than 500 litre fermentation vessels) facility (the 

  

					
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“Demonstration Facility”) designed to support the ongoing project development for a commercial facility. 
 3.5 Priority. Development and demonstration of the Enabling Technology consistent with the activities outlined in the Research and Development Plan shall receive first priority in the use of the
Laboratory Facility and, if built, the Demonstration Facility (collectively, the “Facilities”). 
 3.6 Research Program Term. The initial phase of the Research and Development Program shall commence on the Effective Date and, unless earlier terminated as set forth in Article 11, continue
through the second (2nd) anniversary of the Effective
Date (the “Initial Term”). It is anticipated that in the event the Research and Development Program is successful during the Initial Term, further research or development activities may be required at the end of the Initial Term in
order to advance the Enabling Technology to allow for the commercialization of microbe-derived triglyceride oils in the Brazilian oleochemical and fuels markets. No later than the end of the Initial Term, the Parties will mutually determine whether
to extend the Research and Development Program for an additional period, and if they agree to extend the Research and Development Program, will agree in writing upon a research or development plan for such additional period, the duration of such
period and budget, timelines, resources, payments and other terms and conditions for such period (the “Phase 2 Agreement”). The Initial Term and any extension(s) thereof, including the term for the Phase 2 Agreement (if any), are
collectively referred to as the “Research Program Term.” Notwithstanding anything to the contrary in this Agreement, neither Party is obligated to agree to extend the Research and Development Program or to execute a Phase 2
Agreement. 
 3.7 Additional Solazyme Responsibilities. 

(a) Technology Transfer. Solazyme shall collaborate with Bunge in the design and operation of the Facilities, including transfer
and implementation of all Solazyme Background Technology and Microbe Technology in the possession of Solazyme reasonably required to design, build, equip and operate the Facilities, as Bunge reasonably deems necessary or desirable to demonstrate the
Technical Milestones using the Enabling Technology. Such collaboration shall include on-site Solazyme technical staff to facilitate technology transfer of the Solazyme Microbe Technology to the Facilities as reasonably agreed between the Parties.

 (b) Process Development and Engineering. Solazyme shall collaborate with Bunge in the design of the Laboratory
Facility and, if to be built, the design and engineering of the Demonstration Facility, and the process development required in the Research and Development Plan. 
 3.8 Additional Bunge Responsibilities. 
 (a) Oil Processing
Expertise. Bunge shall, at its expense, provide commercial oil processing expertise, engineering, project development and scale-up expertise in connection with the Research and Development Plan as mutually agreed by the Parties. 

  

					
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 (b) Feedstock. Bunge shall, at its expense, provide representative feedstock from a
Bunge-owned Brazilian sugar mill for the Facilities and the Research and Development Plan. 
 3.9 Additional Joint
Responsibilities. Both Parties shall provide regulatory support and advice in regard to the importation into the Territory of genetically modified Microbes for the purpose of (i) demonstration of the Facilities and
(ii) commercial-scale production of triglyceride oils. 
 3.10 Payments. Solazyme shall not be entitled to any
additional payments for the performance of the activities contemplated in this Article 3 over and above the research and development payments provided in Section 6.1. 
 3.11 Visits to the Facilities. Solazyme may visit the Facilities, with or without representatives of Third Parties, upon reasonable advance notice and with the consent of Bunge and its Affiliate
controlling the site on which the Facility resides, such consents not to be unreasonably withheld, conditioned or delayed. All such visitors shall be subject to the visitors’ policy and procedures administered by the site in which the Facility
resides. Bunge and its Affiliates may grant access to the Facility to visitors; provided, however, that Bunge shall not disclose to any such permitted visitors any Confidential Information of Solazyme, but any such disclosure that occurs
merely as a result of passive observations by the permitted visitors shall not be deemed a breach of this Section 3.11 or Article 9. Notwithstanding the foregoing, during such time as Bunge has an obligation under Section 3.12, Bunge and
its Affiliates will not, without the consent of Solazyme, grant access to the Facilities to any person that Bunge or its Affiliate that operates the Facilities knows is a representative of one of Solazyme’s Direct Competitors. 

3.12 Exclusivity. Except with the prior consent of Solazyme, Bunge and its Affiliates will not test, evaluate or conduct piloting
or demonstration activities at the Facilities involving the production (or attempted production) of triglyceride oils and other derivatives from the lipid pathway from Microbes other than using Enabling Technology, until Bunge delivers to Solazyme
written confirmation that either it (i) commits to build a commercial facility in Brazil to produce triglyceride oils using the Enabling Technology or (ii) formally declines to build a commercial facility in Brazil to produce triglyceride
oils using the Enabling Technology. 
 3.13 Research Records. Solazyme and Bunge shall maintain complete and accurate
records of their respective activities under the Research and Development Program (or cause such records to be maintained) in sufficient detail and in good scientific manner as will properly reflect all work done and results achieved in the
performance of the Research and Development Program (and in a form and in detail information sufficient to establish dates of conception or reduction to practice of any Program Technology). 

3.14 Reports. Each Party shall present to the other Party, at each meeting of the Research and Development Committee, a written
report describing (a) the Research and Development Plan activities that it has performed, or caused to be performed, since the preceding meeting (or, in the case of the first meeting of the Research and Development Committee, prior

  

					
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to such meeting) and on a calendar year-to-date basis, evaluating the work performed in relation to the goals and timeline of the Research and Development Plan, (b) its research and
development activities in process and the future activities it expects to initiate during the then-current calendar year, as compared to the Research and Development Plan. In addition, each Party shall report promptly to the Research and Development
Committee through its respective Research and Development Committee representatives any material developments with respect to activities that it is responsible for performing under the Research and Development Plan. 

3.15 Confidential Information. All data generated in the Research and Development Program, and related reports shall be deemed to
be Confidential Information of the Party that generates such data and reports, and subject to the terms of Article 9. 

3.16 Employees; Contractors. Each Party agrees that it will not permit an employee or contractor to conduct work on or related to
the Research and Development Program unless such employee or contractor has executed a written agreement in favor of such Party containing (i) confidentiality provisions no less stringent than those contained in this Agreement and
(ii) provisions assigning to such Party any invention made by such employee or contractor related to the Research and Development Program. 
 3.17 Further Development and/or Commercialization Activities. In the event the Research and Development Program is successful, and the Parties wish to proceed with a commercial arrangement for the
production and sale of products in the Brazilian oleochemical and fuels markets, it is currently contemplated that the terms of such commercialization arrangement would include the formation of a joint venture in Brazil to initially produce up to
~100,000 tonnes of triglyceride oils using sugar cane feedstock and mill supplied by an Affiliate of Bunge. 
 ARTICLE 4

 MATERIAL TRANSFER 
 4.1 Materials; Limited Use. 
 (a) Transfer of Materials. In the
course of the Research and Development Program, a Party (the “Transferring Party”) may transfer to the other Party (the “Recipient”), chemical or biological material (e.g., microbes, products of microbe conversion,
biomass, etc.). The provisions of this Agreement, including Articles 5, 7 and 9, shall apply to such materials, as well as to any improvements or modifications thereof (original materials, progeny and modified materials are collectively referred to
as “Transferred Materials”). 
 (b) Limited Rights. The Recipient agrees not to (a) use the
Transferred Materials received from the Transferring Party for any purpose other than to conduct the Research and Development Program, or attempt to (b) determine the sequence of, modify, or otherwise reverse-engineer or reproduce any of the
Transferred Materials. 
 (c) Results. The Recipient will promptly disclose to the Transferring Party any data generated,
summaries, and conclusions generated in connection with any use, testing 

  

					
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and evaluation of the Transferred Materials (“Results”) as required by the Research and Development Plan. The Results, and related reports, shall be deemed to be Confidential
Information of both Parties for which each Party is a Receiving Party thereunder subject to the terms of Article 9. 
 (d)
Transfer. The Recipient may distribute portions of the Transferred Materials to any Affiliate, but may not distribute any of the Transferred Materials to any Third Party without the written consent of the Transferring Party; provided,
however, that a Recipient shall require any Affiliate or Third Party to which it distributes any portion of the Transferred Materials to undertake written obligations at least as stringent as those set forth in this Section 4.1. 

(e) Nature of Transferred Materials. The Recipient acknowledges that the Transferred Materials are experimental in nature and may
have unknown characteristics and therefore agree to use prudence and reasonable care in the use, handling, storage, transportation and disposition and containment of the Transferred Materials. The Transferring Party shall inform the Recipient of any
handling hazards of which the Transferring Party is aware regarding the Transferred Materials. Further, at the time of delivery, the Transferring Party will provide to other Party an MSDS for the Transferred Materials, if applicable. 

ARTICLE 5 
 LICENSES 
 5.1 Research and Development Licenses. Subject to the
terms and conditions of this Agreement, each Party hereby grants a non-exclusive, worldwide, royalty-free license under the Background Technology and Program Technology of such Party to the other Party and its Affiliates, solely as reasonably
necessary for such other Party and its Affiliates to conduct the activities contemplated under the Research and Development Plan. 
 5.2 Commercial Licenses. Subject to the terms and conditions of this Agreement, 
 (a) Bunge hereby grants to Solazyme a non-exclusive, worldwide, sublicensable (through multiple tiers), royalty-free license to Bunge’s interest in the Program Technology (other than the Oil
Processing Program Technology), for any use. 
 (b) Solazyme hereby grants to Bunge a non-exclusive, worldwide, sublicensable
(through multiple tiers), royalty-free license to Solazyme’s interest in the Program Technology (other than the Microbe Program Technology), for any use. 
 (c) Solazyme hereby grants to Bunge a non-exclusive, worldwide, sublicensable (through multiple tiers), royalty-free license to the Microbe Program Technology to the extent that such Technology:

 (i) is useful in the separation, recovery, purification and/or extracting of oils from seeds and the
processing of such oils; or 

  

					
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 (ii) relates to the fermentation of a Microbe in connection with the
production of ethanol; provided, however, that such license does not include any Microbes provided by Solazyme or Microbes derived therefrom. 
 (d) Bunge hereby grants to Solazyme a non-exclusive, worldwide, sublicensable (through multiple tiers), royalty-free license to the Oil Processing Program Technology to the extent that such Technology is
useful to make, have made, use, offer for sale, sell and import triglyceride oils produced from Microbe-Based Catalysis (i) within Brazil, for use in combination with Microbe-Based Catalysis proprietary to Solazyme but outside the oleochemical
market and (ii) outside of Brazil, for use in combination with Microbe-Based Catalysis proprietary to Solazyme in all markets. 
 5.3 No Other Licenses. Neither Party grants any licenses in or to any intellectual property owned by or licensed to such Party or its Affiliates, whether by implication, estoppel, or otherwise,
other than the licenses that are expressly granted in this Article 5, including that neither Party is granting a license to Microbe Technology or Oil Processing Technology hereunder except as set forth in Section 5.1 and 5.2. 

ARTICLE 6 
 PAYMENTS; PAYMENT REPORTS; AUDITS 
 6.1 Payments for Research and
Development. Subject to the terms and conditions of this Agreement, unless this Agreement is terminated early pursuant to Article 11, Bunge shall pay Solazyme a total of [*] Dollars ($[*]) payable in eight (8) equal payments of [*] Dollars
($[*]). Solazyme may issue an invoice for the first of such payments immediately upon or after the Effective Date, and Bunge will pay the amount due within thirty (30) days of receipt of invoice. Solazyme may issue an invoice for each
subsequent payment quarterly, starting in the second calendar quarter of 2011, on or after forty-five (45) days before the end of the calendar quarter in which it is issued, and Bunge will pay the amount due within forty-five (45) days of
receipt of invoice, except as provided in Section 11.6. 
 6.2 Payment Method; Late Payments. All payments due under
this Agreement shall be made by bank wire transfer in immediately available funds to a bank account designated by Solazyme. All payments hereunder shall be made in U.S. dollars and shall be non-creditable and non-refundable, except as provided in
Section 11.6. Any payments that are not paid on the date such payments are due under this Agreement shall bear interest at the lesser of (i) the prime rate (as reported by the Bank of America, San Francisco, California, on the date such
payment is due) plus an additional two percent (2%) or (ii) the maximum rate permitted by law, in each case calculated on the number of days such payment is delinquent. Nothing in this Section 6.2 shall prejudice any other rights or
remedies available to Solazyme or Bunge hereunder or at law or equity. 
 6.3 Taxes. 

  
 * Certain information on
this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 

					
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 (a) Bunge will make all payments to Solazyme under this Agreement without deduction or
withholding for Taxes except to the extent that any such deduction or withholding is required by Applicable Law to be made on account of Taxes (as that term is defined in Section 6.3 (d)). 

(b) Any Tax required to be withheld under Applicable Law on amounts payable under this Agreement will promptly be paid by Bunge on behalf
of Solazyme to the appropriate governmental authority, and Bunge will furnish Solazyme with proof of payment of such tax. Any such Tax required to be withheld will be an expense of and borne by Solazyme. 

(c) Bunge and Solazyme will cooperate with respect to all documentation required by any taxing authority or reasonably requested by Bunge
to secure a reduction in the rate of applicable withholding Taxes. If Bunge had a duty to withhold Taxes in connection with any payment it made to Solazyme under this Agreement but Bunge failed to withhold, and such Taxes were assessed against and
paid by Bunge, then Solazyme will reimburse Bunge for such Taxes (including interest, but excluding penalties), upon delivery by Bunge of the documents evidencing Bunge’s payment of the Taxes and the basis for such payment. If Bunge makes a
claim under this Section 6.3(c) it will comply with the obligations imposed by Section 6.3(b) as if Bunge had withheld Taxes from a payment to Solazyme. 
 (d) Solely for purposes of this Section 6.3, “Taxes” means any present or future taxes, levies, imposts, duties, charges, assessments or fees of any nature (including interest,
penalties and additions thereto) that are imposed by the applicable federal government or other taxing authority. 

ARTICLE 7 
 INVENTIONS AND PATENTS 
 7.1 Ownership. 

(a) General. 
 (i) As between the Parties, each Party retains ownership of its own Background Technology. 
 (ii) As between the Parties, Solazyme will own all right, title and interest on a worldwide basis in and to the Microbe Program Technology regardless of inventorship. As between the Parties, Bunge will
own all right, title and interest on a worldwide basis in and to the Oil Processing Program Technology regardless of inventorship. 
 (iii) As between the Parties, Solazyme will own all right, title and interest on a worldwide basis in and to the Program Technology (other than Oil Processing Program Technology) that is conceived or
authored/created solely by or on behalf of Solazyme, including any such Juice Preparation Program Technology. As between the Parties, Bunge will own all right, title and interest on a worldwide basis in

  

					
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and to the Program Technology (other than Microbe Program Technology) that is conceived or authored/created solely by or on behalf of Bunge, including any such Juice Preparation Program
Technology. The Parties will jointly own all Program Technology (other than Microbe Program Technology and Oil Processing Program Technology) that is conceived or authored/created jointly by the Parties, including any such Juice Preparation Program
Technology. 
 (iv) Inventorship of inventions and discoveries within the Program Technology, whether or not
patentable, shall be determined in accordance with U.S. patent law. Authorship of works within the Program Technology shall be determined in accordance with U.S. copyright law. 

(b) Assignments. Solazyme hereby assigns to Bunge, without further consideration, all right, title and interest that Solazyme may
have from time to time (subject to the license grants in Sections 5.1 and 5.2) in any and all Oil Processing Program Technology and shall, at Bunge’s reasonable expense, execute all documents and take all actions reasonably requested by Bunge
from time to time to perfect Bunge’s title to and ownership thereof. Bunge hereby assigns to Solazyme, without further consideration, all right, title and interest that Bunge may have from time to time (subject to the license grants in Sections
5.1 and 5.2) in any and all Microbe Program Technology and shall, at Solazyme’s reasonable expense, execute all documents and take all actions reasonably requested by Solazyme from time to time to perfect Solazyme’s title to and ownership
thereof. 
 7.2 Patent Prosecution. 
 (a) Solazyme. Solazyme shall have the right, at its sole discretion and cost, to prepare, file, prosecute and maintain, at its expense, all patent applications and patents with respect to Microbe
Program Technology and Program Technology owned solely by Solazyme pursuant to Section 7.1, and to conduct any interferences, re-examinations, reissues, oppositions or requests for patent term extension or governmental equivalents thereto.

 (b) Bunge. Bunge shall have the right, at its sole discretion and cost, to prepare, file, prosecute and maintain, at
its expense, all patent applications and patents with respect to Oil Processing Program Technology and Program Technology owned solely by Bunge pursuant to Section 7.1, and to conduct any interferences, re-examinations, reissues, oppositions or
requests for patent term extension or governmental equivalents thereto. 
 (c) Joint. The Parties shall agree upon which
Party shall have the right to prepare, file, prosecute and maintain, any patent applications and patents with respect to Program Technology jointly owned by both Parties, and who will conduct any interferences, re-examinations, reissues, oppositions
or requests for patent term extension or governmental equivalents thereto, and, in each case, how the costs of such activities will be shared. The Party conducting such activities shall keep the other Party fully informed as to the status of such
patent matters, including, without limitation, by providing the other Party the opportunity, at the other Party’s expense, to review and comment on any documents relating to this joint invention(s) that will be filed in any patent office at
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the other Party copies of any documents relating to joint invention that the Party conducting such activities receives from such patent offices, including notice of all interferences, reissues,
reexaminations, oppositions or requests for patent term extensions. If only one Party wishes to seek patent protection with respect to a joint invention in such country or countries, it may file, prosecute and maintain patent applications and
patents with respect thereto, at its own expense. If at any time the Party responsible for the patent activities described in this Section 7.2© (the “Responsible Party”) does not wish to file or wishes to discontinue the prosecution or maintenance of any patent application or patent filed in
any country, on a country-by-country basis, it shall promptly give notice of such intention to the other Party. The latter shall have the right, but not the obligation, to assume responsibility for the prosecution of any such patent applications in
the applicable country, at its own expense, by giving notice to the Responsible Party of such intention within thirty (30) days. 
 (d) Cooperation. Bunge and Solazyme shall each, at its own expense, reasonably cooperate with and help the other Party in connection with its activities under Section 7.1 and 7.2, at the other
Party’s request, including the execution of any assignment documents or other actions necessary to vest ownership as set forth in Section 7.1. 
 7.3 Enforcement. 
 (a) Solazyme. Solazyme shall have the sole right,
but not the obligation, to take legal action to enforce or defend any declaratory action or counterclaim with respect to any Patents contained in Microbe Program Technology and Program Technology owned solely by Solazyme pursuant to
Section 7.1. Solazyme shall retain all recoveries or awards relating to such infringing activity or proceedings. 
 (b)
Bunge. Bunge shall have the sole right, but not the obligation, to take legal action to enforce or defend any declaratory action or counterclaim with respect to any Patents contained in Oil Processing Program Technology and Program Technology
owned solely by Bunge pursuant to Section 7.1. Bunge shall retain all recoveries or awards relating to such infringing activity or proceedings. 
 (c) Joint. The Parties shall agree upon which Party shall have the first right, but not the obligation, to take legal action to enforce or defend any declaratory action or counterclaim with respect
to any Patents contained in Program Technology that is jointly owned by the Parties pursuant to Section 7.1. The enforcing Party has the right to name and join the other Party as a party plaintiff in any such proceeding without expense to the
other Party. The Parties shall agree upon who retains what portion of any recoveries or awards relating to such infringing activity or proceedings. 
 (d) Cooperation. Each Party agrees to render such reasonable help in connection with enforcement activities described in this Section 7.3 as the enforcing Party may request. Except as
otherwise agreed, costs of maintaining any such action shall be paid by and any recoveries shall belong to the Party bringing the action. 
 7.4 Common Interest Disclosures. With regard to any information or opinions disclosed pursuant to this Agreement by one Party to the other regarding intellectual property or

  

					
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technology owned by Third Parties, Solazyme or Bunge (or their respective Affiliates), Solazyme and Bunge agree that they have a common legal interest in determining whether, and to what extent,
Third Party intellectual property rights may affect the conduct of the research and development contemplated under this Agreement, and have a further common legal interest in defending against any actual or prospective Third Party claims based on
allegations of misuse or infringement of intellectual property rights relating to the research and development conducted under this Agreement. All information and materials will be treated as protected by the attorney-client privilege, the work
product privilege, and any other privilege or immunity from discovery that may otherwise be applicable. By sharing any such information and materials, neither Party intends to waive or limit any privilege or immunity from discovery that may apply to
the shared information and materials. Neither Party shall have the authority to waive any privilege or immunity on behalf of the other Party without such other Party’s prior written consent, nor shall the waiver of privilege or immunity
resulting from the conduct of one Party be deemed to apply against the other Party. 
 ARTICLE 8 

REPRESENTATIONS AND WARRANTIES 
 8.1 Mutual Representations and Warranties. Bunge hereby makes the following representations and warranties to Solazyme, and Solazyme hereby makes the following representations and warranties to
Bunge: 
 (a) It is a company duly organized, validly existing and in good standing under the laws of the jurisdiction in which
it is organized. It has all requisite corporate power and authority to own its respective properties and to carry on its respective business as conducted as of the date of this Agreement and as proposed to be conducted. It is duly licensed or
qualified to transact business and is in good standing in each jurisdiction wherein the character of the property owned or leased, or the nature of the activities conducted, make such licensing or qualification necessary, except where the failure to
be so licensed or qualified would not have a material adverse effect on its business or properties. It has the requisite power and authority to execute, deliver and perform its obligations under this Agreement. 

(b) All corporate action on the part of it, its officers, directors and stockholders necessary for the authorization, execution and
delivery of this Agreement, and the performance of all obligations hereunder and thereunder, have been taken, and this Agreement, when executed and delivered by it, shall constitute valid and legally binding obligations of it, enforceable against it
in accordance with their terms except to the extent that (i) such enforcement may be subject to bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect relating to creditor’s rights generally and
(ii) the remedy of specific performance or injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding therefore may be brought. 

(c) The execution, delivery and performance of this Agreement (with or without the giving of notice, the lapse of time or both), and the
consummation of the transactions 

  

					
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contemplated hereby, (i) do not require the consent of any third party; (ii) do not conflict in any material respect with, result in a material breach of, or constitute a material
default under, its organizational documents or any other material contract or agreement to which it is a party or by which it may be bound or affected; and (iii) do not violate in any material respect any provision of Applicable Law or any
order, injunction, judgment or decree of any government authority by which it may be bound, or require any regulatory filings or other actions to comply with the requirements of Applicable Law. It is not a party to, nor is it bound by, any agreement
or commitment that prohibits the execution and delivery of this Agreement or the consummation of the transactions contemplated hereby. 
 (d) No insolvency proceedings of any character, including bankruptcy, receivership, reorganization, composition or arrangement with creditors, voluntary or involuntary, affecting it are pending or
threatened, and it has not made any assignment for the benefit of creditors or taken any action in contemplation of, or which would constitute the basis for, the institution of such insolvency proceedings. 

(e) There is no action, suit, proceeding or investigation pending or threatened against it that questions the validity of this Agreement,
or its ability to consummate the transactions contemplated hereby. It is not in violation of any Applicable Law in respect of the conduct of its business or the ownership of its properties which violation would have a material adverse effect on its
business or the ownership of its properties related to this Agreement. 
 8.2 Solazyme Representation and Warranty.
Solazyme hereby represents and warrants to Bunge that to the best of Solazyme’s knowledge (limited for the purposes of this Section 8.2 to the actual knowledge of any of Solazyme’s Chief Technology Officer, General Counsel, Associate
Vice President – Intellectual Property or Patent Counsel) as of the Effective Date, (i) the practice of the Solazyme Background Technology as contemplated in this Agreement can be practiced without infringing any Patent of any Third Party
and (ii) the disclosure to or use of any Confidential Information provided by Solazyme under this Agreement does not and will not constitute misappropriation of trade secrets or infringement of copyrights of any Third Party. 

8.3 Bunge Representation and Warranty. Bunge hereby represents and warrants to Solazyme that to the best of Bunge’s knowledge
(limited for the purposes of this Section 8.3 to the actual knowledge of any of Bunge’s Vice President) as of the Effective Date, (i) the practice of the Bunge Background Technology as contemplated in this Agreement can be practiced
without infringing any Patent of any Third Party and (ii) the disclosure to or use of any Confidential Information provided by Bunge under this Agreement does not and will not constitute misappropriation of trade secrets or infringement of
copyrights of any Third Party. 
 8.4 Disclaimer. Bunge and Solazyme each specifically disclaim any representation,
warranty or guarantee that the Research and Development Program will be successful, in whole or in part. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT, SOLAZYME AND BUNGE MAKE NO REPRESENTATIONS AND EXTEND NO WARRANTIES OR CONDITIONS OF
ANY KIND, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE PROGRAM TECHNOLOGY, THE BACKGROUND TECHNOLOGY, 

  

					
		 	13	 	CONFIDENTIAL

 
ANY INFORMATION DISCLOSED HEREUNDER, TRANSFERRED MATERIALS, OR ANY MATERIALS, AND HEREBY EXPRESSLY DISCLAIM ANY WARRANTIES OF MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, OR VALIDITY OF
ANY PROGRAM TECHNOLOGY OR BACKGROUND TECHNOLOGY, PATENTED OR UNPATENTED, OR NON-INFRINGEMENT OF THE INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES. 
 ARTICLE 9 
 CONFIDENTIALITY 

9.1 Confidentiality Obligations. All information disclosed by one Party or its Affiliate to the other Party or its Affiliate
pursuant to this Agreement, or pursuant to the Confidentiality Agreement entered into by and between Bunge Alimentos S/A and Solazyme dated December 1, 2009 (the “Confidentiality Agreement”), shall be the “Confidential
Information” of the Party who disclosed it (or the Party whose Affiliate disclosed it) for all purposes hereunder. Each Party agrees that, for the Research Program Term and for ten (10) years thereafter, such Party shall, and shall
ensure that its Affiliates and its and their respective officers, directors, employees and agents shall, keep completely confidential (using at least the same standard of care as it uses to protect proprietary or confidential information of its own,
but in no event less than reasonable care) and not publish or otherwise disclose and not use for any purpose except as expressly permitted hereunder any Confidential Information or materials furnished to it by the other Party or its Affiliates
(including, without limitation, know-how of the disclosing Party). The foregoing obligations shall not apply to any information disclosed by a Party hereunder to the extent that the receiving Party can demonstrate with competent evidence that such
Confidential Information: 
 (a) was already known to the receiving Party or its Affiliates, other than under an obligation of
confidentiality to the disclosing Party, at the time of disclosure; 
 (b) was generally available to the public or otherwise
part of the public domain at the time of its disclosure to the receiving Party or its Affiliates; 
 (c) became generally
available to the public or otherwise part of the public domain after its disclosure and other than through any act or omission of the receiving Party or its Affiliates in breach of this Agreement; 

(d) was subsequently lawfully disclosed to the receiving Party or its Affiliates by a Third Party other than in contravention of a
confidentiality obligation of such Third Party to the disclosing Party or its Affiliates; or 
 (e) was developed or discovered
by employees of the receiving Party or its Affiliates who had no access to the Confidential Information of the disclosing Party or its Affiliates. 
 Specific information shall not become exempt from the obligations herein merely because it is embraced by general information within any of the exceptions according to Section

  

					
		 	14	 	CONFIDENTIAL

 
9.1 (a) – (e) above. Combinations of parts of information are not exempt from the obligations herein if any of the exceptions of Section 9.1 (a) –
(e) applies only to such parts but not to their combination. 
 A receiving Party shall notify the disclosing Party
immediately upon discovery of any unauthorized use or disclosure of Confidential Information or any other breach of this Article 9 by the receiving Party or its Affiliates, and shall cooperate with the disclosing Party and its Affiliates in every
reasonable way to help the disclosing Party and its Affiliates regain possession of such Confidential Information and to prevent its further unauthorized use. 
 9.2 Authorized Disclosure. A Party or its Affiliates may disclose the Confidential Information belonging to the other Party or its Affiliates to the extent such disclosure is reasonably necessary
in the following instances: 
 (a) filing or prosecuting Patents as permitted in this Agreement with the advance written consent
of the other Party, such consent not to be unreasonably withheld, conditioned or delayed; 
 (b) regulatory filings with any
governmental authority necessary for the activities contemplated under the Research and Development Program or the design, build, or operation of the Demonstration Facility in connection therewith; 

(c) disclosure required by applicable securities laws and regulations (including Nasdaq rules), provided however, that the
disclosure therein is limited to the extent necessary as determined by securities counsel for the Party seeking to make such disclosure and provided such Party endeavors to obtain confidential treatment of any disclosed information to the extent
allowed under Applicable Law; 
 (d) in connection with the performance of this Agreement, to Affiliates, sublicensees, research
collaborators, employees, consultants, subcontractors or agents, each of whom prior to disclosure must be bound by similar obligations of confidentiality and non-use at least equivalent in scope to those set forth in this Article 9; or 

(e) in connection with litigation to which a Party is a party or otherwise as required by valid court order or legal process;
provided, however, that such Party gives the other Party advance notice of such required disclosure, limits the disclosure to that actually required as determined by counsel for the Party seeking to make such disclosure, and cooperates in the
other Party’s attempts to obtain a protective order or confidential treatment of the information required to be disclosed. 

9.3 Confidentiality of Agreement Terms. The Parties acknowledge that the terms of this Agreement shall be treated confidentially
as Confidential Information of both Parties. Notwithstanding the foregoing, (a) such terms may be disclosed by a Party in the context of a potential transaction to investment bankers, investors, and potential investors, licensees, or acquirers
and their respective advisors, each of whom prior to disclosure must be bound by similar obligations of confidentiality and non-use at least equivalent in scope to those set forth in this Article 9 and (b) a copy of this Agreement may be filed
by a Party with the U.S. Securities 

  

					
		 	15	 	CONFIDENTIAL

 
and Exchange Commission if required by applicable securities laws and regulations, as determined by securities counsel for the Party seeking to make such filing. In connection with any such
filing, such Party shall endeavor to obtain confidential treatment of economic and trade secret information, research and development information (such as Exhibit B), and other competitively sensitive information of each Party, to the extent
allowed, as reasonably determined by securities counsel for the Party seeking to make such disclosure. 
 9.4 Publicity.
Upon the execution of this Agreement, the Parties shall issue a press release announcing the execution of this Agreement, the text of which is set forth in Exhibit D and without the need for further approval from or notice to the
other Party, each Party may thereafter (i) disclose the information contained in such press release and (ii) respond orally to questions by Third Parties posed outside of planned, external presentations regarding the subject matter of this
Agreement or the press release and planned interviews regarding the subject matter of this Agreement or the press release; provided, however, that such disclosures and responses are consistent with the press release. After such initial press
release, except as set forth in this Section 9.4, neither Party shall issue a press release or public announcement relating to this Agreement without the prior written approval of the other Party, which approval shall not be unreasonably
withheld or delayed. 
 9.5 Acknowledgement. Bunge acknowledges that Solazyme may in the future become subject to the
disclosure obligations of a company listed on an exchange (or on Nasdaq) and at such time be subject to obligations that are different from the disclosure obligations of Bunge, and that Solazyme may be obligated to publicly disclose certain
information (e.g., material information relating to this Agreement) that Bunge would not be legally obligated to publicly disclose. 
 ARTICLE 10 
 INDEMNIFICATION 

10.1 Indemnification. Each of Solazyme, on the one hand, and Bunge, on the other hand, hereby agrees to indemnify, defend and hold
harmless the other and its Affiliates and each of their respective stockholders, officers, directors, employees and agents (each, an “Indemnified Party”) from and against any and all Damages arising out of, connected with or related
to any Third Party claims to the extent arising out of (i) the breach or non-performance of such Party of its obligations under this Agreement or in connection with the Research and Development Program or (ii) any breach of any of such
Party’s representations or warranties in this Agreement; except in any such case to the extent that such claims arise out of the negligence or willful misconduct of an Indemnified Party. 

10.2 Limitation on Liability. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS SECTION 10.2, NEITHER SOLAZYME NOR BUNGE SHALL BE
LIABLE TO THE OTHER FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, RELIANCE OR SPECIAL DAMAGES SUFFERED BY THE OTHER PARTY, AS THE CASE MAY BE (INCLUDING DAMAGES FOR HARM TO BUSINESS, LOST REVENUES, LOST SAVINGS OR LOST PROFITS SUFFERED BY SUCH
PARTY), WHETHER IN 

  

					
		 	16	 	CONFIDENTIAL

 
CONTRACT, WARRANTY, STRICT LIABILITY, TORT OR OTHERWISE, INCLUDING NEGLIGENCE OF ANY KIND, WHETHER ACTIVE OR PASSIVE, AND REGARDLESS OF WHETHER THE POSSIBILITY THAT SUCH DAMAGES COULD RESULT WAS
KNOWN. NOTWITHSTANDING THE FOREGOING, (A) THE ABOVE LIMITATIONS SHALL NOT APPLY IN THE EVENT OF DAMAGES ARISING OUT OF A BREACH OF THE NON-DISCLOSURE AND NON-USE OBLIGATIONS UNDER ARTICLE 9 OR THE INTELLECTUAL PROPERTY OBLIGATIONS UNDER ARTICLE
7, AND (B) NOTHING IN THIS SECTION 10.2 IS INTENDED TO LIMIT ANY PARTY’S OBLIGATIONS UNDER SECTION 10.1 IN RELATION TO AMOUNTS PAID TO A THIRD PARTY. 
 ARTICLE 11 
 TERM; TERMINATION 

11.1 Term. The term of this Agreement shall commence on the Effective Date, and, unless terminated earlier as provided in this
Article 11, shall continue in full force and effect until the end of the Research Program Term. The term of the Research Program Term is set forth in Section 3.6. 
 11.2 Termination upon Material Breach. 
 (a) If a Party is in material
breach of this Agreement, the Party not in default may give to the breaching Party a written notice specifying the nature of the default, requiring it to make good or otherwise cure such breach, and stating its intention to terminate this Agreement
if such breach is not cured. Subject to Article 12 and Sections 13.9 and 13.12, if such breach is not cured within ninety (90) days (or thirty (30) days with respect to breach of a payment obligation) after the receipt of such notice, the
Party not in default shall be entitled, without prejudice to any of its other rights conferred under this Agreement, and in addition to any other remedies available to it by law or in equity, to terminate this Agreement by written notice to the
other Party. 
 (b) The right of a Party to terminate this Agreement, as provided in this Article 11, shall not be affected in
any way by its waiver or failure to take action with respect to any prior default or breach. 
 11.3 Termination for
Insolvency. If voluntary or involuntary proceedings by or against a Party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such Party, or proceedings are instituted by or against such Party for
corporate reorganization, dissolution, liquidation or winding-up of such Party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such Party makes an assignment for the
benefit of creditors, or substantially all of the assets of such Party are seized or attached and not released within sixty (60) days thereafter, the other Party may immediately terminate this Agreement effective upon notice of such
termination. 
 11.4 Certain Effects of Termination. Upon termination of this Agreement for any reason, (i) each
Party shall promptly return to the other Party (or destroy and provide the other Party with a certificate of destruction) all Transferred Materials, (ii) Bunge and its Affiliates 

  

					
		 	17	 	CONFIDENTIAL

 
shall remove from the Facilities any equipment owned by Solazyme, (iii) each Party shall promptly return to the other Party (or destroy and provide the other Party with a certificate of
destruction) all relevant records and materials in its possession or control containing or comprising the other Party’s Confidential Information and to which the Party does not retain rights hereunder; provided, however, that each Party
shall be entitled to retain copies of the other Party’s Confidential Information to the extent necessary to comply with applicable regulatory obligations and shall be entitled to retain one copy of the other Party’s Confidential
Information for archival purposes, and (iii) the licenses granted under Section 5.1 shall terminate but the licenses granted under Section 5.2 shall survive. 
 11.5 Bunge Early Termination. Bunge may terminate this Agreement at any time upon six (6) months advance written notice, provided, however, that no such termination shall be effective
before 18 months after the Effective Date without the consent of Solazyme. 
 11.6 Accrued Rights; Stop Payment; Refund of
Advance Payment. Termination of this Agreement for any reason shall be without prejudice to any rights that shall have accrued to the benefit of a Party prior to such termination. Termination shall not relieve a Party from obligations that are
expressly indicated to survive termination of this Agreement. Bunge shall not be required to make any research funding payments under Section 3.1 for any time after the effective date of termination of this Agreement (even if Solazyme issues
(or has issued) an invoice under Section 3.1 for any or all of such time). Solazyme shall, within thirty (30) days after the termination of this Agreement refund to Bunge any amount of any research payments , (prorating on a daily basis,
if applicable) paid by Bunge under this Agreement and applicable to any time after termination of this Agreement. 
 11.7
Survival. The provisions of Sections 3.15, 5.2, 5.3, 6.2, 6.3, and 11.4 – 11.7 and Articles 1, 4, 7, 9, 10, 12 and 13 and such other provisions that by their terms should reasonably be judged to survive termination shall survive for
the period specified therein or, in the absence of such specification, indefinitely. 
 ARTICLE 12 

DISPUTE RESOLUTION 
 12.1 Negotiation. In the event of any controversy or claim arising out of, relating to or in connection with any provision of this Agreement, or the rights or obligations of the Parties hereunder,
the Parties shall try to settle their differences amicably between themselves. Either Party may initiate such informal dispute resolution by sending written notice of the dispute to the other Party, and within ten (10) days after such notice
appropriate representatives of the Parties shall meet for attempted resolution by good faith negotiations. If such representatives are unable to resolve promptly such disputed matter, it shall be referred to the Chief Executive Officer of Solazyme
and to the President of Bunge, for discussion and resolution. If such personnel are unable to resolve such dispute within thirty (30) days of initiating such negotiations, unless otherwise agreed by the Parties, such dispute shall proceed to
mediation as provided under Section 12.2. 

  

					
		 	18	 	CONFIDENTIAL

 12.2 Mediation. 

(a) If a dispute arises out of or relates to this Agreement, or the breach thereof, and if the dispute cannot be settled through
negotiation, then the Parties agree before resorting to resolution pursuant to any other means, to first try in good faith to settle the dispute by non-binding mediation with a neutral mediator; provided, however, that if such mediation has
not occurred within sixty (60) days after a written request for mediation by either Party, then either Party may proceed to resolution pursuant to any other means. 
 (b) Each Party agrees not to use the period or pendency of the mediation to disadvantage the other Party procedurally or otherwise. No statements made by either side during the mediation may be used by
the other or referred to during any subsequent proceedings. 
 (c) Each Party has the right to pursue provisional relief from
any court, such as attachment, preliminary injunction, replevin, etc. to avoid irreparable harm, maintain the status quo, or preserve the subject matter of the dispute, even though mediation has not been commenced or completed. 

12.3 Language of Dispute Resolution. All proceedings under this Article 12 (including pursuant to any other means of dispute
resolution) shall be conducted in the English language and all documents exchanged between the Parties or submitted in the context of a proceeding under this Article 12 (including pursuant to any other means of dispute resolution) shall be in
English or shall be accompanied with a certified English translation of the original document. 
 ARTICLE 13

 MISCELLANEOUS 
 13.1 Notice. 
 (a) All notices, requests, demands and other communications
that are required or may be given pursuant to the terms of this Agreement shall be in writing and shall be deemed delivered (i) on the date of delivery when delivered by hand on a Business Day during normal business hours or, if delivered on a
day that is not a Business Day or after normal business hours, then on the next Business Day, (ii) on the date of transmission when sent by facsimile transmission during normal business hours on a Business Day with telephone confirmation of
receipt or, if transmitted on a day that is not a Business Day or after normal business hours, then on the next Business Day, (iii) on the second Business Day after the date of dispatch when sent by a reputable courier service that maintains
records of receipt or (iv) ten (10) Business Days after the date of dispatch when sent by first class or airmail letter; provided, however, that, in any such case, such communication is addressed as provided in the immediately
following paragraph (b). 
 (b) All notices, requests, demands and other communications that are required or may be given
pursuant to the terms of this Agreement shall be addressed as follows: 

  

					
		 	19	 	CONFIDENTIAL

 if to Bunge, to: 
 Bunge Global Innovation, LLC 
 50 Main Street 

White Plains, NY 
 Attn: 
 Telephone: 

Facsimile: 

with a copy to: 

Bunge North America, Inc. 
 11720 Borman Dr. 
 St. Louis, MO 63146 

Attn: General Counsel 
 Telephone: 
 Facsimile: 
 or to such other addresses as Bunge may designate in a written notice to the other Party; and 
 if to Solazyme, to: 
 Solazyme, Inc. 

225 Gateway Boulevard 
 South San Francisco, CA 94080 
 Attn: General Counsel 

Telephone: 1-650-416-5126 
 Facsimile: 1-650-989-1258 
 or to such other address as Solazyme may designate in a written notice
to the other Party. 
 13.2 Remedies for Breach. The rights and remedies herein expressly provided are cumulative and not
exclusive of any other rights or remedies that any Party would otherwise have at law, in equity, by statute or otherwise. 

13.3 Relationship of the Parties. Nothing in this Agreement is intended or shall be deemed to constitute a partnership, agency or
employer-employee relationship between the Parties. Neither Party shall incur any debts or make any commitments for the other. 

13.4 Assignment. Except as expressly provided herein, neither this Agreement nor any interest hereunder shall be assignable, nor
any other obligation delegable, by a Party without the prior written consent of the other Party; provided, however, that a Party may assign or otherwise transfer this Agreement (a) to any Affiliate or (b) to any successor in
interest by way of merger, sale of equity, or sale of all or substantially all of its assets provided that such successor agrees in writing to be bound by the terms of this Agreement as if it were the transferring Party. This Agreement shall be
binding upon the successors and permitted assigns of the Parties. Any assignment or other transfer not in accordance with this Section 13.4 shall be 

  

					
		 	20	 	CONFIDENTIAL

 
void. Notwithstanding the foregoing, in the event that a Party assigns or otherwise transfers this Agreement to its successor in interest by way of merger, sale of equity, or sale of all or
substantially all of its assets, the intellectual property rights of such successor in interest, and of any of its Affiliates as of immediately prior to such assignment or other transfer, as existing immediately prior to the closing of such
transaction, shall be automatically excluded from the rights licensed to the other Party under this Agreement. 
 13.5
Further Assurances. Each Party agrees to execute, acknowledge and deliver such further instruments and to do all such other reasonable acts as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement.

 13.6 Force Majeure. Neither Party shall be liable to the other for failure or delay in the performance of any of its
obligations under this Agreement for the time and to the extent such failure or delay is caused by acts of god, earthquake, fire, flood, war, accident, explosion, breakdowns or labor trouble; embargoes or other import or export restrictions;
shortage of or inability to obtain energy, equipment, transportation or feedstock; or good faith compliance with any regulation, direction or request (whether valid or invalid) made by any governmental authority or any other reason that is beyond
the control of the respective Party. The Party affected by force majeure shall provide the other Party with full particulars thereof as soon as it becomes aware of the same (including its best estimate of the likely extent and duration of the
interference with its activities) and shall use commercially reasonable efforts to overcome the difficulties created thereby and to resume performance of its obligations as soon as practicable. 

13.7 Governing Law. This Agreement shall be governed and construed in accordance with the laws of the State of New York, excluding
any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction. All disputes hereunder shall be resolved in a venue having appropriate
jurisdiction in the United States of America. 
 13.8 Tolling of Time Periods. In the event that a controversy or claim
has been raised and is in the process of dispute resolution in accordance with Article 12, any applicable time period governing the underlying controversy or claim shall be tolled pending the outcome of the resolution process, after which the time
period shall again begin to run. 
 13.9 Severability. When possible, each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under Applicable Law, but if any provision of this Agreement is held to be prohibited by or invalid under Applicable Law, such provision shall be ineffective only to the extent of such
prohibition or invalidity, without invalidating the remainder of this Agreement. The Parties shall make a good faith effort to replace the invalid or unenforceable provision with a valid one that conforms as nearly as possible with the original
intent of the Parties. 
 13.10 Third Party Beneficiaries. Except for the rights of the Indemnified Parties set forth in
Article 10, all rights, benefits and remedies under this Agreement are solely intended for the benefit of Solazyme and Bunge and their permitted assigns, and no Third Party shall have any rights whatsoever to (i) enforce any obligation
contained in this Agreement; (ii) seek a 

  

					
		 	21	 	CONFIDENTIAL

 
benefit or remedy for any breach of this Agreement; or (iii) take any other action relating to this Agreement under any legal theory, including but not limited to, actions in contract, tort
(including but not limited to negligence, gross negligence and strict liability), or as a defense, setoff or counterclaim to any action or claim brought or made by the Parties. 

13.11 Fees; Brokers. Each of Solazyme and Bunge shall bear its own legal fees and expenses in connection with this Agreement and
the transactions contemplated herein. Each of Solazyme and Bunge represents and warrants to the other that it has not engaged or been involved with any broker or finder in connection with the Agreement or the transactions contemplated herein, and
each of Solazyme and Bunge agrees to indemnify and hold the other harmless from and against any broker’s, finder’s or similar fees for which it is responsible. 
 13.12 Advice of Counsel. Solazyme and Bunge have each consulted counsel of their choice regarding this Agreement, and each acknowledges and agrees that this Agreement shall not be deemed to have
been drafted by one Party or another and shall be construed accordingly. 
 13.13 Entire Agreement; Amendments. This
Agreement (including its Exhibits) and the Confidentiality Agreement, taken together, collectively represent the entire understanding and agreement between the Parties with respect to the subject matter of and the transactions contemplated by such
agreements. The provisions of this Agreement shall be construed within the four corners of this Agreement; provided, however, that reasonable efforts shall be made to interpret and give full force and effect to the provisions of this
Agreement in a manner that is not inconsistent with the interpretation given to the relevant provisions of the foregoing agreements and that gives full force and effect to all relevant provisions of the foregoing agreements in their entirety. No
modification or amendment of any provision of this Agreement shall be valid or effective unless made in writing and signed by a duly authorized officer of each Party. 
 13.14 Waiver. The failure or delay of a Party to enforce or to exercise, at any time for any period of time, any provisions hereof or any right or remedy hereunder shall not be construed as a
waiver of such provision or right or remedy or of the right of such Party thereafter to enforce or exercise the same; provided, however, that such right or remedy is not time-barred or otherwise precluded by law or by a writing expressly
waiving such right or remedy and signed by that Party seeking to assert such right or remedy. The written waiver by either Party of a breach of any term or provision of this Agreement by the other Party shall not be construed as a waiver of any
subsequent breach. 
 13.15 Translation. This Agreement is in the English language only, which language shall be
controlling in all respects, and all versions hereof in any other language shall be for accommodation only and shall not be binding upon the Parties. All communications and notices to be made or given pursuant to this Agreement, and any dispute
proceeding related to or arising hereunder, shall be in the English language. If there is a discrepancy between any translation of this Agreement and this Agreement, this Agreement shall prevail. 

13.16 Export, Import and Regulatory Laws. Notwithstanding anything to the contrary contained herein, all obligations of Solazyme
and Bunge and their Affiliates are subject to prior compliance with U.S. export regulations, Brazilian import regulations, and such other 

  

					
		 	22	 	CONFIDENTIAL

 
U.S. and Brazilian Applicable Laws. Solazyme and Bunge, respectively, shall each use its reasonable efforts to obtain such approvals for its own activities. Each Party shall cooperate with
the other Party and shall provide help to the other Party as reasonably necessary to obtain any required approvals. 
 13.17
Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. Signature pages received by facsimile transmission or PDF shall be
deemed the same as signature pages with original signatures. 

  

					
		 	23	 	CONFIDENTIAL

 IN WITNESS WHEREOF, the Parties have executed this Joint Development Agreement as of
the day and year first above written. 
  

			
	BUNGE GLOBAL INNOVATION, LLC
		
	 By:
	 	 /s/ Miguel Oliveira

		 	 Name: Miguel Oliveira

		 	 Title:

	
	SOLAZYME, INC.
		
	 By:
	 	 /s/ Jonathan Wolfson

		 	Name: Jonathan Wolfson
		 	Title:   CEO

 Signature
page to Joint Development Agreement 

  

					
		 	24	 	CONFIDENTIAL

 EXHIBIT A 

Defined Terms 
 “Affiliate” means, with respect to any Person, any other Person directly or indirectly Controlling, Controlled by or under common Control with such Person. As used in this definition,
“Control” means the possession of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise, but only during such time as such
power exists. 
 “Applicable Law” means any applicable constitution, treaty, statute, rule, regulation,
ordinance, order, directive, code, interpretation, judgment, decree, injunction, writ, determination, award, permit, license, authorization, directive, requirement or decision of or by government authorities. 

“Background Technology” means any Technology (i) Controlled by a Party as of the Effective Date, or
(ii) Controlled by a Party at any time after the Effective Date and developed or acquired by or on behalf of a Party independent of this Agreement. As used in this definition, “Controlled” means, with respect to any item of
Technology or intellectual property rights, possession of the right, whether directly or indirectly, and whether by ownership, license or otherwise, to assign or grant a license, sublicense or other right to or under, such Technology or intellectual
property as provided for herein without violating the terms of any agreement or other arrangements with any Third Party or requiring the payment of additional consideration specifically in connection with such grant unless the other Party hereto has
agreed in writing to pay for the amount of such payment. 
 “Business Day” means any day other than a Saturday
or Sunday on which federal or state-chartered banks located in New York, New York are open for the conduct of ordinary commercial banking business. 
 “Damages” means all assessments, losses, damages, penalties, fines, costs, payments, expenses and judgments, including interest and penalties and reasonable attorneys’ fees,
disbursements and expenses. 
 “Direct Competitor” means any company listed on Exhibit D. For the
avoidance of doubt, the companies listed on Exhibit D and their Affiliates are those companies generally regarded by Solazyme as significant competitors of Solazyme with respect to which a tour of the Facilities is reasonably likely to result
in a disclosure of Confidential Information that would have a significant adverse effect on Solazyme. Solazyme may propose, from time to time, the addition to Exhibit D of other companies of comparable competitive status, and Bunge shall not
unreasonably withhold its consent to such addition. 
 “Exchange Act” means the United States Securities
Exchange Act of 1934, as amended. 
 “Juice Preparation Technology” means any Technology that is useful for
converting Brazilian sugar cane mill feed into the appropriate carbon source to be fed to the Microbes for Microbe-Based Catalysis. 

  
 Exhibit A
– Page 1 

 “Juice Preparation Program Technology” means any Juice Preparation
Technology that is Program Technology. 
 “Microbe” means any single-celled microorganism with lipid-producing
capability. 
 “Microbe-Based Catalysis” means that portion of a process in which a Microbe is used as a
biocatalyst to convert a carbon source into a triglyceride oil or derivative from the lipid pathway starting with the introduction of carbon sources to the Microbe and ending with the extraction of the oil or derivative from the Microbe (but not
including any process after the extraction of the oil or derivative). 
 “Microbe Program Technology” means any
Microbe Technology that is Program Technology. 
 “Microbe Technology” means any Technology consisting of
(i) Microbe-Based Catalysis; (ii) any biomass that results from Microbe-Based Catalysis, (iii) any Microbes used for the Microbe-Based Catalysis; (iv) any isolating, screening, selecting, cultivating, or processing of a Microbe
used for Microbe-Based Catalysis, and the materials directly resulting from such screening or selecting; (v) any genetic or metabolic engineering or mutagenesis of a Microbe used for Microbe-Based Catalysis, and the materials directly resulting
from such genetic or metabolic engineering or mutagenesis; (vi) any oils or other materials resulting from Microbe-Based Catalysis, (vii) any uses with respect to any materials resulting from Microbe-Based Catalysis, and (viii) any
method or process for separating, recovering and/or extracting any material from any biomass that results from Microbe-Based Catalysis; in each case, with respect to the oils after extraction from the Microbe, to the extent not Oil Processing
Technology. 
 “Oil Processing Technology” means any Technology for the processing of oil starting after the
extraction of oil from a Microbe, to and through the point at which the triglyceride oil is suitable for sale, including methods and processes for purifying and processing triglyceride oils resulting from Microbe-Based Catalysis after the extraction
of the triglyceride oils from the Microbe biomass, and the oils resulting from such processing. 
 “Oil Processing
Program Technology” means any Oil Processing Technology that is Program Technology. 
 “Patents” means
(a) all national, regional and international patents and other indicia of ownership of an invention granted by any governmental authority, including utility patents, design patents, utility models, petty patents, inventors certificates and
plant patents; (b) all applications for any of the foregoing, including divisional, continuations, continuations-in-part, provisionals, converted provisionals, and continued prosecution applications; and (c) any and all extensions or
restorations by existing or future extension or restoration mechanisms, including revalidations, reissues, re-examinations and extensions (including any supplementary protection certificates and the like) of the foregoing (described in clauses
(a) and (b)). 
 “Person” means any human being, organization, general partnership, limited partnership,
corporation, limited liability company, joint venture, trust, business trust, association, governmental entity or other legal entity. 

  
 Exhibit A
– Page 2 

 “Program Technology” means all Technology conceived or authored/created in
the course of the conduct of the Research and Development Program, including Juice Preparation Technology. 
 “Research
and Development Program” means the program of research and development activities conducted by Solazyme or Bunge and any respective Affiliates in accordance with the Research and Development Plan. 

“Technical Milestones” means the key performance indicators listed in Section III of the Research and Development Plan.

 “Technology” means all technical, scientific and other know-how and information, trade secrets, knowledge,
technology, means, methods, processes, practices, formulas, instructions, skills, techniques, procedures, experiences, ideas, technical help, designs, drawings, assembly procedures, computer programs, apparatuses, specifications, data, results and
other material, manufacturing procedures, test procedures, and purification and isolation techniques (in each case whether or not confidential, proprietary, patented or patentable) in written, electronic or any other form now known or hereafter
developed, and all other discoveries, developments, inventions (in each case, whether or not confidential, proprietary, patented or patentable), and tangible embodiments of any of the foregoing, and all related intellectual property rights.

 “Territory” means the Federative Republic of Brazil. 

“Third Party” means any Person other than Solazyme and its Affiliates, Bunge and its Affiliates, and their permitted
successors and assigns. 
 Additional Definitions. Each of the following terms shall have the meaning defined in the
corresponding sections of this Agreement indicated below: 
  

			
	 Term
	  	Section Reference
		
	 Agreement
	  	Preamble
	 Effective Date
	  	Preamble
	 Bunge
	  	Preamble
	 Solazyme
	  	Preamble
	 Party
	  	1.2
	 Dollar
	  	1.2
	 Research and Development Committee
	  	2.1
	 Research and Development Plan
	  	3.1
	 Enabling Technology
	  	3.2
	 Laboratory Facility
	  	3.4
	 Demonstration Facility
	  	3.4
	 Facilities
	  	3.5
	 Initial Term
	  	3.6
	 Phase 2 Agreement
	  	3.6
	 Research Program Term
	  	3.6
	 Transferring Party
	  	4.1(a)

  
 Exhibit A
– Page 3 

			
	 Term
	  	Section Reference
		
	 Receiving Party
	  	4.1(a)
	 Transferred Materials
	  	4.1(a)
	 Results
	  	4.1(c)
	 Tax
	  	6.3(e)
	 Responsible Party
	  	7.2(c)
	 Confidentiality Agreement
	  	9.1
	 Confidential Information
	  	9.1
	 Indemnified Party
	  	10.1

  
 Exhibit A
– Page 4 

 EXHIBIT B 

Research and Development Plan 
 [*] 

  
 * Certain information on
this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 Exhibit B – Page 1 

 [*] 

  
 * Certain information on
this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 Exhibit B – Page 2 

 [*] 

 

  
 * Certain information on
this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 Exhibit B – Page 3 

 [*] 

 

  
 * Certain information on
this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 Exhibit B – Page 4 

 [*] 

  
 * Certain information on
this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 Exhibit B – Page 5 

 EXHIBIT C 

<This Exhibit no longer used.> 

  
 Exhibit C
– Page 1 

 EXHIBIT D 

Direct Competitors 

Amyris, Inc. 
 Gevo, Inc. 

POET 
 BP Biofuels 

Sapphire Energy 
 LS9 

Mascoma 
 Novozymes 

Synthetic Genomics 
 DSM/Martek 

Codexis, Inc. 
 Dupont/Danisco 

Evonik Degussa 

  
 Exhibit D
– Page 1 

 EXHIBIT E 

Press Release 
 [to be attached] 

  
 Exhibit E
– Page 1Loan and Security Agreement

 Exhibit 10.24 
 LOAN AND SECURITY AGREEMENT 
 THIS LOAN AND SECURITY
AGREEMENT (this “Agreement”) dated as of May 11, 2011 (the “Effective Date”) between SILICON VALLEY BANK, a California corporation (“Bank”), and SOLAZYME, INC., a Delaware
corporation (“Borrower”), provides the terms on which Bank shall lend to Borrower and Borrower shall repay Bank. The parties agree as follows: 
  

	 	1	ACCOUNTING AND OTHER TERMS 

 Accounting terms not defined in this Agreement shall be construed following GAAP. Calculations and determinations must be made following GAAP. Capitalized terms not otherwise defined in this Agreement
shall have the meanings set forth in Section 13. All other terms contained in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to the extent such terms are defined therein. 

 

	 	2	LOAN AND TERMS OF PAYMENT 

 2.1 Promise to Pay. Borrower hereby unconditionally promises to pay Bank the outstanding principal amount of all Credit Extensions and accrued and unpaid interest thereon as and when due in
accordance with this Agreement. 
 2.1.1 Revolving Advances. 

(a) Availability. Subject to the terms and conditions of this Agreement and Borrower’s compliance with
Section 6.7, Bank shall make Advances not exceeding the Availability Amount. Amounts borrowed hereunder may be repaid and, prior to the Revolving Line Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein.

 (b) Termination; Repayment. The Revolving Line terminates on the Revolving Line Maturity Date, when
the principal amount of all Advances, the unpaid interest thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable. If Borrower terminates the Revolving Line before the first anniversary of the Effective
Date, Borrower shall pay to Bank a fully earned, non-refundable revolving line termination fee of Fifty Thousand Dollars ($50,000) (the “Revolving Line Termination Fee”) at such termination unless the termination of the Revolving
Line is through the replacement of the Revolving Line by another credit facility hereafter provided by Bank. 

2.1.2 Letters of Credit Sublimit. 

(a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit denominated in Dollars or a Foreign
Currency for Borrower’s account. The aggregate Dollar Equivalent amount utilized for the issuance of Letters of Credit shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The aggregate Dollar
Equivalent amount available to be used for the issuance of Letters of Credit may not exceed (i) the Revolving Line, minus (ii) the sum of (x) all outstanding principal amounts of any Advances, (y) the Dollar Equivalent of the
face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) and (z) the FX Reduction Amount. 

(b) If, on the Revolving Line Maturity Date (or the effective date of any termination of this Agreement), there are any
outstanding Letters of Credit, then on such date Borrower shall provide to Bank cash collateral in an amount equal to 105% (for Letters of Credit denominated in U.S. Dollars) or 110% (for Letters of Credit denominated in a currency other than U.S.
Dollars) of the Dollar Equivalent of the face amount of all such Letters of Credit plus all interest, fees, and costs due or to become due in connection therewith (as estimated by Bank in its good faith business judgment), to secure all of the
Obligations relating to such Letters of Credit. All Letters of Credit shall be in form and substance acceptable to Bank in its sole discretion and shall be subject to the terms and conditions of Bank’s standard Application and Letter of Credit
Agreement (the “Letter of Credit Application”). Borrower agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request. Borrower further agrees to be bound by the regulations and
interpretations of the issuer of any Letters of Credit guarantied by Bank and opened for Borrower’s account or by Bank’s interpretations of any Letter of Credit issued by Bank for Borrower’s account, and Borrower understands and
agrees that Bank shall not be liable for any error, negligence, or mistake, whether of omission or commission, in following Borrower’s 

 
instructions in good faith or those contained in the Letters of Credit or any modifications, amendments, or supplements thereto. 

(c) The obligation of Borrower to immediately reimburse Bank for drawings made under Letters of Credit shall be absolute,
unconditional, and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement, such Letters of Credit, and the Letter of Credit Application. 

(d) Borrower may request that Bank issue a Letter of Credit payable in a Foreign Currency. If a demand for payment is
made under any such Letter of Credit, Bank shall treat such demand as an Advance to Borrower of the Dollar Equivalent of the amount thereof (plus fees and charges in connection therewith such as wire, cable, SWIFT or similar charges). 

(e) To guard against fluctuations in currency exchange rates, upon the issuance of any Letter of Credit payable in a
Foreign Currency, Bank shall create a reserve (the “Letter of Credit Reserve”) under the Revolving Line in an amount equal to ten percent (10%) of the face amount of such Letter of Credit. The amount of the Letter of Credit
Reserve may be adjusted by Bank from time to time to account for fluctuations in the exchange rate. The availability of funds under the Revolving Line shall be reduced by the amount of such Letter of Credit Reserve for as long as such Letter of
Credit remains outstanding. 
 2.1.3 Foreign Exchange Sublimit. As part of the Revolving Line, Borrower
may enter into foreign exchange contracts with Bank under which Borrower commits to purchase from or sell to Bank a specific amount of Foreign Currency (each, a “FX Forward Contract”) on a specified date (the “Settlement
Date”). FX Forward Contracts shall have a Settlement Date of at least one (1) FX Business Day after the contract date and shall be subject to a reserve of ten percent (10%) of each outstanding FX Forward Contract (the “FX
Reserve”). The aggregate amount of FX Forward Contracts at any one time may not exceed ten (10) times the amount equal to Five Million Dollars ($5,000,000), minus (i) the sum of (x) the Dollar Equivalent of the face amount of
any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), and (y) the sum of all outstanding principal amounts of any Advances . The amount otherwise available for Credit Extensions
under the Revolving Line shall be reduced by an amount equal to ten percent (10%) of each outstanding FX Forward Contract (the “FX Reduction Amount”). Any amounts needed to fully reimburse Bank for any amounts not paid by
Borrower in connection with FX Forward Contracts will be treated as Advances under the Revolving Line and will accrue interest at the interest rate applicable to Advances. 

2.1.4 [Reserved.] 
 2.1.5 Term Loan. 
 (a) Availability. Subject to the
satisfaction of the terms and conditions of this Agreement: (i) Bank shall make advances available to Borrower (each, a “Term Loan” and collectively, the “Term Loans”) in an aggregate original principal amount
up to Fifteen Million Dollars ($15,000,000) from the Effective Date through November 30, 2011; (ii) each Term Loan shall be in an amount of at least Two Million Five Hundred Thousand Dollars ($2,500,000); and (iii) the first Term Loan
shall be made within three (3) Business Days after the Effective Date. 
 (b) Repayment. For each
Term Loan, Borrower shall make monthly payments of interest only commencing on the first day of the month following the month in which the Funding Date occurs with respect to such Term Loan and continuing thereafter on the first day of each
successive calendar month through November 2011. Commencing on December 1, 2011 and on the first day of each successive month thereafter through and including November 1, 2015 (each a “Term Loan Scheduled Payment Date”),
Borrower shall make forty-eight (48) equal monthly payments of principal and interest which would fully amortize the outstanding Term Loans (individually, the “Term Loan Scheduled Payment”, and collectively, “Term Loan
Scheduled Payments”). All unpaid principal and accrued interest with respect to each Term Loan is due and payable in full on the Term Loan Maturity Date. A Term Loan may only be prepaid in accordance with Sections 2.1.5(c) and
2.1.5(d). 
 (c) Mandatory Prepayment Upon an Acceleration. If the Term Loans are accelerated
following the occurrence and during the continuance of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of: (i) all outstanding principal plus accrued interest, plus (ii) all other sums, if any, that
shall have become due and payable, including interest at the Default Rate with respect to any past due amounts. 

  
 -2-

 (d) Permitted Prepayment of Term Loans. Borrower shall have the
option to prepay all, but not less than all, of the Term Loans advanced by Bank under this Agreement, provided Borrower (i) provides written notice to Bank of its election to prepay the Term Loans at least ten (10) days prior to such
prepayment, and (ii) pays, on the date of such prepayment (A) all outstanding principal plus accrued interest, plus (B) all other sums, if any, that shall have become due and payable, including interest at the Default Rate with
respect to any past due amounts. 
 2.2 Overadvances. If, at any time, the sum of (a) the
outstanding principal amount of any Advances, plus (b) the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), plus (c) the FX Reduction Amount exceeds the
Revolving Line, Borrower shall immediately pay to Bank in cash such excess. 
 2.3 Payment of Interest on the
Credit Extensions.  
 (a) Interest Rate. 

(i) Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall
accrue interest at a floating per annum rate equal to the WSJ Prime Rate, which interest shall be payable monthly in accordance with Section 2.3(f) below. 

(ii) Term Loans. Subject to Section 2.3(b), the principal amount outstanding under each Term Loan shall
accrue interest, which interest shall be payable monthly, at a fixed per annum rate equal to five percent (5.0%). 
 (b) Default Rate. Immediately upon the occurrence and during the continuance of a payment Event of Default or Financial Covenant Default, outstanding Obligations shall bear interest at a rate per
annum which is three percentage points (3.00%) above the rate that is otherwise applicable thereto (the “Default Rate”) unless Bank otherwise elects from time to time in its sole discretion to impose a smaller increase. Fees
and expenses which are required to be paid by Borrower pursuant to the Loan Documents (including, without limitation, Bank Expenses) but are not paid when due shall bear interest until paid at a rate equal to the highest rate applicable to the
Obligations. Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any
rights or remedies of Bank. 
 (c) Adjustment to Interest Rate. Changes to the interest rate of any
Credit Extension based on changes to the WSJ Prime Rate shall be effective on the effective date of any change to the WSJ Prime Rate and to the extent of any such change. 

(d) Computation; 360-Day Year. In computing interest, the date of the making of any Credit Extension shall be
included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension. Interest shall be
computed on the basis of a 360-day year for the actual number of days elapsed. 
 (e) Debit of Accounts.
Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Bank when due. These debits shall not constitute a set-off. 

(f) Interest Payment Date. Unless otherwise provided, interest is payable monthly on the first
(1st) calendar day of each month. 

2.4 Fees. Borrower shall pay to Bank: 

(a) Term Loan Facility Fee. A fully earned, non-refundable term loan facility fee of Sixty Thousand Dollars
($60,000), on the Effective Date; Borrower has paid Bank a good faith deposit of Fifty Thousand Dollars ($50,000) and on the Effective Date, this good faith deposit shall be applied towards the term loan facility fee due on the Effective Date;

 (b) Revolving Line Facility Fee. A fully earned, non-refundable revolving line facility fee of Twenty
Thousand Dollars ($20,000), on the Effective Date and thereafter, Borrower shall pay to Bank an additional 

  
 -3-

 
fully earned, non-refundable revolving line facility fee of Twenty Thousand Dollars ($20,000) annually on every anniversary of the Effective Date; 

(c) Revolving Line Termination Fee. The Revolving Line Termination Fee, if and when due hereunder; and 

(d) Bank Expenses. All Bank Expenses (including reasonable attorneys’ fees and expenses for documentation and
negotiation of this Agreement) incurred through and after the Effective Date, when due. 
 2.5 Payments;
Application of Payments. All payments (including prepayments) to be made by Borrower under any Loan Document shall be made in immediately available funds in U.S. Dollars, without setoff or counterclaim, before 12:00 p.m. Pacific time on the date
when due. Payments of principal and/or interest received after 12:00 p.m. Pacific time are considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment shall be due
the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid. 
  

	 	3	CONDITIONS OF LOANS 

 3.1 Conditions Precedent to Initial Credit Extension. Bank’s obligation to make the initial Credit Extension is subject to the condition precedent that Bank shall have received, in form and
substance satisfactory to Bank, such documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate, including, without limitation: 

(a) duly executed original signatures to the Loan Documents; 

(b) Borrower’s Operating Documents and a good standing certificate of Borrower certified by the Secretary of State
of the States of Delaware and California as of a date no earlier than thirty (30) days prior to the Effective Date; 
 (c) duly executed original signatures to the completed Borrowing Resolutions for Borrower; 
 (d) certified copies, dated as of a recent date, of financing statement searches, as Bank shall request, accompanied by written evidence (including any UCC termination statements) that the Liens indicated
in any such financing statements either constitute Permitted Liens or have been or, in connection with the initial Credit Extension, will be terminated or released; 

(e) the Perfection Certificate of Borrower, together with the duly executed original signature thereto; 

(f) evidence satisfactory to Bank that the insurance policies required by Section 6.5 hereof are in full force and
effect, together with appropriate evidence showing lender loss payable and/or additional insured clauses and cancellation notice to Bank (or endorsements reflecting the same) in favor of Bank; 

(g) payment of the fees and Bank Expenses then due as specified in Section 2.4 hereof. 

3.2 Conditions Precedent to all Credit Extensions. Bank’s obligations to make each Credit Extension,
including the initial Credit Extension, is subject to the following conditions precedent: 
 (a) except as
otherwise provided in Section 3.5(a), timely receipt of an executed Payment/Advance Form; 
 (b) the
representations and warranties in this Agreement shall be true, accurate, and complete in all material respects on the Funding Date of each Credit Extension; provided, however, that such materiality qualifier shall not be applicable to any
representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in
all material respects as of such date, and no Event of Default shall have occurred and be continuing or result from the Credit Extension. Each Credit Extension is Borrower’s representation and warranty on that date that the representations and
warranties in this Agreement remain true, accurate, and complete in all material respects; provided, however, that such materiality qualifier shall not be 

  
 -4-

 
applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties
expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; 
 (c) in Bank’s sole discretion, there has not been any Material Adverse Change. 
 3.3 Post Financial Covenant Default Conditions. Upon the occurrence of a Financial Covenant Default, Borrower agrees to deliver to Bank, in form and substance satisfactory to Bank: 

(a) duly executed original signatures to the Control Agreements required by Section 6.6(b); and 

(b) and other documentation Bank may require to perfect its security interest in the Collateral. 

3.4 Covenant to Deliver. Except as otherwise provided in Section 3.3, Borrower agrees to deliver to Bank each
item required to be delivered to Bank under this Agreement as a condition precedent to any Credit Extension. Borrower expressly agrees that a Credit Extension made prior to the receipt by Bank of any such item shall not constitute a waiver by Bank
of Borrower’s obligation to deliver such item, and the making of any Credit Extension in the absence of a required item shall be in Bank’s sole discretion. 

3.5 Procedures for Borrowing. 

(a) Advances. Subject to the prior satisfaction of all other applicable conditions to the making of an Advance set
forth in this Agreement, to obtain an Advance (other than Advances under Sections 2.1.2 or 2.1.3), Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail, facsimile, or telephone by 12:00 p.m. Pacific time on the Funding
Date of the Advance. Together with any such electronic or facsimile notification, Borrower shall deliver to Bank by electronic mail or facsimile a completed Payment/Advance Form executed by a Responsible Officer or his or her designee. Bank may rely
on any telephone notice given by a person whom Bank believes is a Responsible Officer or designee. Bank shall credit Advances to the Designated Deposit Account. Bank may make Advances under this Agreement based on instructions from a Responsible
Officer or his or her designee or without instructions if the Advances are necessary to meet Obligations which have become due. 
 (b) Term Loans. To obtain a Term Loan (except for the first Term Loan), Borrower must notify Bank by electronic mail, facsimile or telephone by 12:00 p.m. Pacific Time three (3) Business Days
prior to the date the Term Loan is to be made. If such notification is by telephone, Borrower must promptly confirm the notification by delivering to Bank a completed Payment/Advance Form in the form attached as Exhibit B. On the Funding
Date, Bank shall credit to Borrower’s deposit account, an amount equal to the amount of the Term Loan. Bank may make Term Loans under this Agreement based on instructions from a Responsible Officer or his or her designee. Bank may rely on any
telephone notice given by a person whom such Bank believes is a Responsible Officer or designee. 
  

	 	4	CREATION OF SECURITY INTEREST 

 4.1 Grant of Security Interest. Borrower hereby grants Bank, to secure the payment and performance in full of all of the Obligations, a continuing security interest in, and pledges to Bank,
the Collateral, wherever located, whether now owned or hereafter acquired or arising, and all proceeds thereof; provided, that (a) such security interest shall not be effective unless or until a Financial Covenant Default has occurred
(the first such date being the “Grant Effective Date”), (b) such security interest shall not constitute a cure of the Event(s) of Default giving rise thereto, and (c) any cure of the Events(s) of Default
shall not be deemed a release of Bank’s security interest in the Collateral unless Bank otherwise consents thereto in writing. 
 4.2 Priority of Security Interest. Borrower represents, warrants, and covenants that the security interest granted or to be granted herein is and shall at all times on and after the Grant Effective
Date continue to be a first priority perfected security interest in the Collateral (subject only to Permitted Liens that may have superior priority to Bank’s Lien under this Agreement). 

If this Agreement is terminated, Bank’s Lien in the Collateral, if any, shall continue until the Obligations (other
than inchoate indemnity obligations) are repaid in full in cash. Upon payment in full in cash of the 

  
 -5-

 
Obligations (other than inchoate indemnity obligations) and at such time as Bank’s obligation to make Credit Extensions has terminated, Bank’s Lien in the Collateral granted hereunder,
if any, shall automatically terminate and all rights therein shall revert to Borrower, and Bank shall, at Borrower’s sole cost and expense, deliver such documents and make such filings as Borrower shall reasonably request to evidence such
termination. 
 4.3 Authorization to File Financing Statements. Borrower hereby authorizes Bank to file
financing statements, without notice to Borrower, with all appropriate jurisdictions to notice that the negative-negative pledge set forth in Section 7.5. Upon the occurrence of a Financial Covenant Default, Borrower hereby authorizes Bank to
file financing statements, without notice to Borrower, with all appropriate jurisdictions to perfect or protect Bank’s interest or rights hereunder. 
  

	 	5	REPRESENTATIONS AND WARRANTIES 

 Borrower represents and warrants as follows: 
 5.1 Due
Organization, Authorization; Power and Authority. Borrower is duly existing and in good standing as a Registered Organization in its jurisdiction of formation and is qualified and licensed to do business and is in good standing in any
jurisdiction in which the conduct of its business or its ownership of property requires that it be qualified except where the failure to do so could not reasonably be expected to have a material adverse effect on Borrower’s business. In
connection with this Agreement, Borrower has delivered to Bank, on or prior to the Effective Date, a completed certificate signed by Borrower, entitled “Perfection Certificate”. Borrower represents and warrants to Bank that on the
Effective Date (a) Borrower’s exact legal name is that indicated on the Perfection Certificate and on the signature page hereof; (b) Borrower is an organization of the type and is organized in the jurisdiction set forth in the
Perfection Certificate; (c) the Perfection Certificate accurately sets forth Borrower’s organizational identification number or accurately states that Borrower has none; (d) the Perfection Certificate accurately sets forth
Borrower’s place of business, or, if more than one, its chief executive office as well as Borrower’s mailing address (if different than its chief executive office); (e) except as set forth in the Perfection Certificate, Borrower (and
each of its predecessors) has not, in the past five (5) years, changed its jurisdiction of formation, organizational structure or type, or any organizational number assigned by its jurisdiction; and (f) all other information set forth on
the Perfection Certificate pertaining to Borrower and each of its Subsidiaries is accurate and complete (it being understood and agreed that Borrower may from time to time update certain information in the Perfection Certificate after the Effective
Date to the extent permitted by one or more specific provisions in this Agreement). If Borrower is not now a Registered Organization but later becomes one, Borrower shall promptly notify Bank of such occurrence and provide Bank with Borrower’s
organizational identification number. 
 The execution, delivery and performance by Borrower of the Loan
Documents to which it is a party have been duly authorized, and do not (i) conflict with any of Borrower’s organizational documents, (ii) contravene, conflict with, constitute a default under or violate any material Requirement of
Law, (iii) contravene, conflict or violate any applicable order, writ, judgment, injunction, decree, determination or award of any Governmental Authority by which Borrower or any of its Subsidiaries or any of their property or assets may be
bound or affected, (iv) require any action by, filing, registration, or qualification with, or Governmental Approval from, any Governmental Authority (except such Governmental Approvals which have already been obtained and are in full force and
effect) or (v) constitute an event of default under any material agreement by which Borrower is bound. Borrower is not in default under any agreement to which it is a party or by which it is bound in which the default could reasonably be
expected to have a material adverse effect on the business of Borrower and its consolidated Subsidiaries, taken as a whole. 
 5.2 Collateral. Borrower has good title to, has rights in, and the power to transfer each item of the Collateral, free and clear of any and all Liens except Permitted Liens. Borrower has no
domestic deposit accounts other than the deposit accounts with Bank, the deposit accounts, if any, described in the Perfection Certificate delivered to Bank in connection herewith, or of which Borrower has given Bank notice and taken such actions as
are necessary to give Bank a perfected security interest therein if required by Section 6.6(b). The Accounts are bona fide, existing obligations of the Account Debtors. 

Borrower is the owner of the Intellectual Property which it owns or purports to own except for over-the-counter software
that is commercially available to the public. To the Borrower’s knowledge and belief, each Patent that it owns or purports to own and is material to Borrower’s business is valid and enforceable, and no part of the Intellectual Property
which Borrower owns or purports to own and which is material to Borrower’s business has 

  
 -6-

 
been judged invalid or unenforceable, in whole or in part. To the best of Borrower’s knowledge, no claim has been made that any part of the Intellectual Property owned by Borrower infringes
the patents of any third party except to the extent such claim would not reasonably be expected to have a material adverse effect on the business of Borrower and its consolidated Subsidiaries, taken as a whole. 

5.3 Intentionally Omitted. 

5.4 Litigation. There are no actions or proceedings pending or, to the knowledge of the Responsible Officers,
threatened in writing by or against Borrower or any of its Subsidiaries that would reasonably be expected to have a material adverse effect on the business of Borrower and its consolidated Subsidiaries, taken as a whole. 

5.5 Financial Statements; Financial Condition. All consolidated financial statements for Borrower delivered to
Bank fairly present in all material respects Borrower’s consolidated financial condition and Borrower’s consolidated results of operations. There has not been any material adverse change in the consolidated financial condition or business
of Borrower and its consolidated Subsidiaries, taken as a whole, since the date of the most recent financial statements submitted to Bank. 
 5.6 Solvency. The fair salable value of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; Borrower is not left with unreasonably small
capital after the transactions in this Agreement; and Borrower is able to pay its debts (including trade debts) as they mature. 
 5.7 Regulatory Compliance. Borrower is not regulated as an “investment company” or a company “controlled” by an “investment company” under the Investment Company Act
of 1940, as amended. Borrower is not engaged as one of its important activities in extending credit for margin stock (under Regulations X, T and U of the Federal Reserve Board of Governors). Borrower has complied in all material respects with the
Federal Fair Labor Standards Act. Borrower has not violated any laws, ordinances or rules, the violation of which could reasonably be expected to have a material adverse effect on the business of Borrower and its consolidated Subsidiaries taken as a
whole. None of Borrower’s or any of its Subsidiaries’ properties or assets has been used by Borrower or any Subsidiary in disposing, producing, storing, treating, or transporting any hazardous substance, other than legally, which could
reasonably be expected to have a material adverse effect on the business of Borrower and its Subsidiaries, taken as a whole. Borrower and each of its Subsidiaries have obtained all consents, approvals and authorizations of, made all declarations or
filings with, and given all notices to, all Government Authorities that are necessary to continue their respective businesses as currently conducted. 
 5.8 Subsidiaries; Investments. Borrower does not own any stock, partnership interest or other equity securities except for Permitted Investments. 

5.9 Tax Returns and Payments; Pension Contributions. Borrower has timely filed all required tax returns and
reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower, except, in each case, where the failure to do so would not reasonably be expected to have a material adverse
effect on the financial condition or business of Borrower and its consolidated Subsidiaries, taken as a whole. Borrower is unaware of any claims or adjustments proposed for any of Borrower’s prior tax years which could result in additional
material taxes becoming due and payable by Borrower. Borrower has paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms, and Borrower has not withdrawn from
participation in, and has not permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected to result in any liability of Borrower, including any
liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency in the aggregate in excess of Five Hundred Thousand Dollars ($500,000). 

5.10 Use of Proceeds. Borrower shall use the proceeds of the Credit Extensions solely as working capital or other
general corporate purposes and not for personal, family, household or agricultural purposes. 
 5.11 Full
Disclosure. No written representation, warranty or other statement of Borrower in any certificate or written statement given to Bank (other than any projections or forecasts or other forward looking information), as of the date such
representation, warranty, or other statement was made, taken together with all such written certificates and written statements given to Bank, contains any untrue statement of a material fact or omits to state a material fact necessary to make the
statements contained in the certificates or statements not misleading. Any projections and forecasts provided by Borrower to Bank have been prepared by Borrower in good faith and based 

  
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upon reasonable assumptions, it being understood that such projections and forecasts are not viewed as facts and that actual results during the period or periods covered by such projections and
forecasts may differ from the projected or forecasted results. 
 5.12 Definition of
“Knowledge.” For purposes of the Loan Documents, whenever a representation or warranty is made to Borrower’s knowledge or awareness, to the “best of” Borrower’s knowledge, or with a similar qualification,
knowledge or awareness means the actual knowledge, after reasonable investigation, of the Responsible Officers. 
  

	 	6	AFFIRMATIVE COVENANTS 

 Borrower shall do all of the following: 
 6.1 Government
Compliance. 
 (a) Maintain its and all its Subsidiaries’ legal existence and good standing in their
respective jurisdictions of formation and maintain qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on the business or operations of Borrower and its consolidated
Subsidiaries, taken as a whole. Borrower shall comply, and have each Subsidiary comply, with all laws, ordinances and regulations to which it is subject, noncompliance with which could reasonably be expected to have a material adverse effect on the
business of Borrower and its consolidated Subsidiaries, taken as a whole. 
 (b) Obtain all of the Governmental
Approvals necessary for the performance by Borrower of its obligations under the Loan Documents to which it is a party and, on and after the Grant Effective Date, the grant of a security interest to Bank in all of its property. Borrower shall
promptly provide copies of any such obtained Governmental Approvals to Bank. 
 6.2 Financial Statements,
Reports, Certificates. Deliver to Bank: 
 (a) Borrowing Base Reports. Within thirty (30) days
after the last day of each month, aged listings of accounts receivable and accounts payable (by invoice date) (the “Borrowing Base Reports”); 
 (b) Monthly Financial Statements. As soon as available, but no later than thirty (30) days after the last day of each month, a company prepared consolidated balance sheet and income statement
covering Borrower’s consolidated operations for such month certified by a Responsible Officer and in a form reasonably acceptable to Bank (the “Monthly Financial Statements”); 

(c) Monthly Compliance Certificate. Within thirty (30) days after the last day of each month and together
with the Monthly Financial Statements, a duly completed Compliance Certificate signed by a Responsible Officer, certifying that as of the end of such month, Borrower was in full compliance with all of the terms of this Agreement (or, if not,
specifying any non-compliance), and setting forth calculations showing compliance with the financial covenants set forth in this Agreement and such other information as Bank shall reasonably request; 

(d) Annual Audited Financial Statements. As soon as available, but no later than one hundred eighty
(180) days after the last day of Borrower’s fiscal year, audited consolidated financial statements prepared under GAAP, consistently applied, together with an unqualified opinion on the financial statements from Deloitte & Touche
LLP or any other independent certified public accounting firm acceptable to Bank in its reasonable discretion; 

(e) Annual Projections. As soon as available, but no later than sixty (60) days after the last day of
Borrower’s fiscal year, annual financial projections approved by Borrower’s Board of Directors substantially consistent in form and detail with those previously provided to Bank except that quarterly numbers shall be included; 

(f) SEC Filings. In the event that Borrower becomes subject to the reporting requirements under the Exchange Act
within five (5) days of filing, copies of all periodic and other reports, proxy statements and other materials filed by Borrower with the SEC, any Governmental Authority succeeding to any or all of the functions of the SEC or with any national
securities exchange, or distributed generally to its shareholders, as the 

  
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case may be. Documents required to be delivered pursuant to the terms hereof (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered
electronically and if so delivered, shall be deemed to have been delivered on the date on which Borrower posts such documents, or provides a link thereto, on Borrower’s website on the Internet at Borrower’s website address; 

(g) Legal Action Notice. A prompt report of any legal actions pending or threatened in writing against Borrower or
any of its Subsidiaries that could reasonably be expected to have a material adverse effect on the financial condition or business of Borrower and its consolidated Subsidiaries, taken as a whole; 

(h) Perfection Certificate. Together with the audited financial statements delivered pursuant to
Section 6.2(d), a duly completed and updated Perfection Certificate certified by a Responsible Officer; and 
 (i) Other Financial Information. Other financial information reasonably requested by Bank. 
 6.3 Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects. 
 6.4 Taxes; Pensions. Timely file, and require each of its Subsidiaries to timely file, all required material tax returns and reports and timely pay, and require each of its Subsidiaries to timely
pay, all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower and each of its Subsidiaries, except where the failure to do so would not reasonably be expected to have a material adverse effect on the
financial condition or business of Borrower and its consolidated Subsidiaries, taken as a whole, and so long as Borrower posts bonds or takes any other steps required to prevent a Governmental Authority levying any contested taxes from obtaining a
Lien upon any of the Collateral (other than a Lien allowed under clause (b) of the definition of Permitted Liens), and shall deliver to Bank, on demand, appropriate certificates attesting to such payments, and pay all amounts necessary to fund
all present pension, profit sharing and deferred compensation plans in accordance with their terms, except to the extent the failure to so pay could reasonably be expected to result in any liability of Borrower, including any liability to the
Pension Benefit Guaranty Corporation or its successors or any other governmental agency in the aggregate in excess of Five Hundred Thousand Dollars ($500,000). 
 6.5 Insurance. Keep its business and the Collateral insured for risks and in amounts standard for companies in Borrower’s industry and location. All property policies shall have a
lender’s loss payable endorsement showing Bank as a lender loss payee. All liability policies shall show, or have endorsements showing, Bank as an additional insured. All policies (or their respective endorsements) shall provide that the
insurer shall give Bank at least thirty (30) days notice before canceling or declining to renew its policy. At Bank’s request, Borrower shall deliver certified copies of policies and evidence of all premium payments. So long as no Event of
Default has occurred and is continuing, Borrower shall have the option of applying the proceeds of any casualty policy toward the replacement or repair of destroyed or damaged property; provided that any such replaced or repaired property
(i) shall be of equal or like value as the replaced or repaired property and (ii) if such destroyed or damaged property was Collateral, such replaced or repaired property shall be deemed Collateral in which Bank has a first priority
security interest on and after the Grant Effective Date subject to Permitted Liens, and (b) after the occurrence and during the continuance of an Event of Default, all proceeds payable under such casualty policy shall, at the option of Bank, be
payable to Bank on account of the Obligations. If Borrower fails to obtain insurance as required under this Section 6.5 or to pay any amount or furnish any required proof of payment to third persons and Bank, Bank may make all or part of such
payment or obtain such insurance policies required in this Section 6.5, and take any action under the policies Bank deems prudent. 
 6.6 Operating Accounts. 
 (a) Maintain domestic operating
and other deposit accounts and securities accounts with Bank and Bank’s Affiliates, containing at least Twenty Five Million Dollars ($25,000,000) in deposits and investments at all times. 

(b) Provide Bank five (5) days prior written notice before establishing any domestic Collateral Account at or with
any bank or financial institution other than Bank or Bank’s Affiliates, provided, upon Bank’s request, Borrower shall provide details of any of its foreign Collateral Accounts. Upon the Financial Covenant Default, for each Collateral
Account that Borrower at any time maintains, Borrower shall cause the applicable bank or financial institution (other than Bank) at or with which any Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate
instrument with respect to such Collateral Account to 

  
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perfect Bank’s Lien in such Collateral Account in accordance with the terms hereunder which Control Agreement may not be terminated without the prior written consent of Bank. The provisions
of the previous sentence shall not apply to: (i) deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as
such, (ii) foreign Collateral Accounts, (iii) accounts specified in the “Excluded Assets” definition, and (iv) Permitted Pledged Accounts. 

6.7 Financial Covenants. Maintain at all times, with respect to Borrower: 

(a) Minimum Cash. (i) A minimum of Thirty Million Dollars ($30,000,000) in unrestricted cash and unrestricted
investments whether with Bank or otherwise (it being understood that any accounts and amounts held therein or investments credited thereto that are subject to Control Agreements in favor of Bank shall be deemed to be “unrestricted” for
purposes of this Section 6.7), and (ii) a minimum of Twenty Five Million Dollars ($25,000,000) in unrestricted cash and unrestricted investments in domestic operating and other deposit accounts and securities accounts with Bank and
Bank’s Affiliates. 
 6.8 Protection of Intellectual Property Rights. 

(a) Use reasonable efforts to (i) protect, defend and maintain the validity and enforceability of its Intellectual
Property, to the extent the failure to so protect, defend or maintain would reasonably be expected to have a material adverse effect on the financial condition or business of the Borrower and its consolidated Subsidiaries, taken as a whole;
(ii) promptly advise Bank in writing of material infringements of which Borrower is aware of its Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s business to be abandoned, forfeited or
dedicated to the public without Bank’s written consent. 
 6.9 Litigation Cooperation. From the date
hereof and continuing through the termination of this Agreement, make available to Bank, without expense to Bank, Borrower and its officers and employees and Borrower’s books and records, to the extent that Bank may deem them reasonably
necessary to prosecute or defend any third-party suit or proceeding instituted by or against Bank with respect to any Collateral or relating to Borrower. 
 6.10 Access to Collateral; Books and Records. Allow Bank, or its agents, to inspect the Collateral and audit and copy Borrower’s Books. Such inspections or audits shall be conducted no more
often than once every twelve (12) months unless an Event of Default has occurred and is continuing or unless Bank determines more frequent examinations are necessary based on field examination results. The foregoing inspections and audits shall
be at Borrower’s expense, and the charge therefor shall be $850 per person per day (or such higher amount as shall represent Bank’s then-current standard charge for the same), plus reasonable out-of-pocket expenses. 

6.11 Further Assurances. Execute any further instruments and take further action as Bank reasonably requests to
perfect or continue Bank’s Lien, if any, in the Collateral or to effect the purposes of this Agreement. 
  

	 	7	NEGATIVE COVENANTS 

 Borrower shall not do any of the following without Bank’s prior written consent: 
 7.1 Dispositions. Convey, sell, lease, transfer, assign, or otherwise dispose of (collectively, “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its
business or property, except for: 
 (a) Transfers (i) in the ordinary course of business for reasonably
equivalent consideration, (ii) of Inventory in the ordinary course of business; and (iii) of worn-out or obsolete Equipment or no longer used or useful Equipment; and exchange of Equipment for other Equipment; 

(b) in connection with Permitted Liens and Permitted Investments; 

(c) Transfers of the Peoria Equipment; 

(d) Transfers to Borrower or any of its Subsidiaries from Borrower or any of its Subsidiaries; 

  
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 (e) Transfers of property in connection with sale-leaseback transactions;

 (f) Transfers of property to the extent such property is exchanged for credit against, or proceeds are
promptly applied to, the purchase price of other property used or useful in the business of Borrower or its Subsidiaries; 
 (g) (i) Transfers constituting licenses of Intellectual Property of Borrower or its Subsidiaries, and (ii) contributions of Intellectual Property to joint ventures; 

(h) Transfers otherwise permitted by the Loan Documents; 

(i) sales or discounting of delinquent accounts in the ordinary course of business; 

(j) Transfers in connection with a permitted acquisition of a portion of the assets or rights acquired; and 

(k) other Transfers not to exceed One Million Dollars ($1,000,000) in the aggregate in any fiscal year of Borrower.

 7.2 Changes in Business, Management, Ownership, or Business Locations. (a) Engage in or permit
any of its Subsidiaries to engage in any business other than the businesses currently engaged in by Borrower and such Subsidiary, as applicable, or reasonably related or ancillary thereto; (b) liquidate or dissolve; or (c) (i) have a
change in Borrower’s chief executive officer unless a replacement chief executive officer is approved by Borrower’s Board of Directors, including a majority of the members of the Board of Directors who are not employees of Borrower as of
the date of such approval, within ninety (90) days of the date of the resignation or termination of such officer; or (ii) enter into any transaction or series of related transactions in which the stockholders of Borrower who were not
stockholders immediately prior to the first such transaction own more than 40% of the voting stock of Borrower immediately after giving effect to such transaction or related series of such transactions (other than by the sale of Borrower’s
equity securities in a public offering or to venture capital investors so long as Borrower identifies to Bank the venture capital investors prior to the closing of the transaction and provides to Bank a description of the material terms of the
transaction). 
 Borrower shall not, without at least fifteen (15) days prior written notice to Bank:
(1) change its jurisdiction of organization, (2) change its organizational structure or type, (3) change its legal name, or (4) change any organizational number (if any) assigned by its jurisdiction of organization. 

7.3 Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with
any Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of a Person, except: 
 (a) where no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and Borrower is the surviving entity; 

(b) Borrower or a Subsidiary may acquire all or substantially all of the capital stock or property of another Person so
long as no Event of Default has occurred and is continuing at the time of such acquisition or would result from such action, including pursuant to a merger or consolidation, and for all such transactions involving Borrower, Borrower is the surviving
entity; 
 (c) any Subsidiary may merge or consolidate with (i) Borrower provided that Borrower is the
surviving entity, and (ii) one or more other Subsidiaries; 
 (d) Borrower or any Subsidiary may acquire,
all or substantially all of the capital stock or property of another Subsidiary; or 
 (e) such merger,
consolidation or acquisition is a Transfer otherwise permitted pursuant to Section 7.1. 
 7.4
Indebtedness. Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness. 

  
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 7.5 Encumbrance. (a) Create, incur, allow, or suffer any Lien on
any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens; (b) permit any Collateral not to be subject to the first priority
security interest granted or to be granted herein, except for Permitted Liens; or (c) enter into any agreement, document, instrument or other arrangement (except with or in favor of Bank) with any Person which directly or indirectly prohibits
or has the effect of prohibiting Borrower or any Subsidiary from assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering any of Borrower’s or any Subsidiary’s assets or property in favor of Bank, , except
for (i) assets or property subject to an agreement to transfer such assets or property, provided such assets or property are permitted to be transferred pursuant to Section 7.1, (ii) assets or property subject to Liens permitted under
clauses (c), (f) or (g) (to the extent related to Liens permitted pursuant to clauses (c) or (f)) of the definition of “Permitted Liens”, (iii) Permitted Pledged Accounts, (iv) Excluded Assets and
(v) customary provisions in leases or licenses restricting the assignment thereof. 
 7.6 Maintenance of
Collateral Accounts. Maintain any Collateral Account except pursuant to the terms of Section 6.6 hereof. 
 7.7 Distributions; Investments. (a) On or prior to a Qualifying IPO, pay any dividends or make any distribution or payment in respect of, or redeem, retire or purchase any capital stock
of Borrower other than Permitted Distributions; or (b) directly or indirectly acquire or own any Person, or make any Investment in any Person, other than Permitted Investments, or permit any of its Subsidiaries to do so. 

7.8 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any material transaction
with any Affiliate of Borrower, except for transactions that are (a) upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s length transaction with a non-affiliated Person, (b) between
or among Borrower and its Subsidiaries, (c) Permitted Distributions, (d) Permitted Investments, (e) issuances by Borrower of its capital stock, and receipt by Borrower of capital contributions, (f) legal, accounting
administrative and other support services provided to joint ventures, (g) compensation and indemnification of, and other employment arrangements with, directors, officers and employees of Borrower or any of its Subsidiaries entered in the
ordinary course of business, and (h) described in “Certain Relationships and Related Party Transactions” in Borrower’s Amendment No. 3 to Form S-1 Registration Statement on file with the SEC on the Effective Date.

 7.9 Subordinated Debt. (a) Make or permit any payment on any Subordinated Debt, except under the
terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would adversely affect the subordination
thereof to Obligations owed to Bank. 
 7.10 Compliance. Become regulated as an “investment
company” or a company controlled by an “investment company”, under the Investment Company Act of 1940, as amended, or undertake as one of its important activities extending credit to purchase or carry margin stock (as defined in
Regulation U of the Board of Governors of the Federal Reserve System), or use the proceeds of any Credit Extension for that purpose; fail to meet the minimum funding requirements of ERISA, permit a Reportable Event or Prohibited Transaction, as
defined in ERISA, to occur; fail to comply with the Federal Fair Labor Standards Act or violate any other law or regulation, if the violation could reasonably be expected to have a material adverse effect on the business of Borrower and its
consolidated Subsidiaries, taken as a whole, or permit any of its Subsidiaries to do so; withdraw or permit any Subsidiary to withdraw from participation in, permit partial or complete termination of, or permit the occurrence of any other event with
respect to, any present pension, profit sharing and deferred compensation plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any
other governmental agency in the aggregate in excess of Five Hundred Thousand Dollars ($500,000). 
  

	 	8	 EVENTS OF DEFAULT 

 Any one of the following shall constitute an event of default (an “Event of Default”) under this Agreement: 

8.1 Payment Default. Borrower fails to (a) make any payment of principal or interest on any Credit Extension
on its due date, or (b) pay any other Obligations within five (5) Business Days after such Obligations are due and payable (which five (5) Business Day cure period shall not apply to payments due on the Revolving Line

  
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Maturity Date or the Term Loan Maturity Date). During the cure period, the failure to make or pay any payment specified under clause (b) hereunder is not an Event of Default (but no Credit
Extension will be made during the cure period); 
 8.2 Covenant Default. 

(a) (i) Borrower fails or neglects to perform any obligation in Section 6.2 within five (5) days of when
due, or (ii) Borrower fails or neglects to perform any obligation in Section 6.7(a)(i) and has not cured such violation within thirty (30) days after the occurrence thereof (but no Credit Extension will be made during the cure
period), or (iii) Borrower fails or neglects to perform any obligation in Sections 6.6 or 6.7(a)(ii), or (iv) Borrower violates any covenant in Section 7; or 

(b) Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement
contained in this Agreement or any Loan Documents, and as to any default (other than those otherwise specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the
default within ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within such ten
(10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such
reasonable time period the failure to cure the default shall not be deemed an Event of Default (but no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not apply, among other things, to
financial covenants or any other covenants set forth in clause (a) above; 
 8.3 Intentionally
Omitted. 
 8.4 Attachment; Levy; Restraint on Business. 

(a) (i) The service of process seeking to attach, by trustee or similar process, any funds of Borrower or of any
entity under the control of Borrower (including a Subsidiary) on deposit or otherwise maintained with Bank or any Bank Affiliate, or (ii) a notice of lien or levy (other than a Lien allowed under clause (b) of the definition of Permitted
Liens) is filed against any of Borrower’s assets by any government agency, and the same under subclauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the
posting of a bond or otherwise); provided, however, no Credit Extensions shall be made during any ten (10) day cure period; or 
 (b) (i) any material portion of Borrower’s assets is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents
Borrower from conducting any material part of its business; 
 8.5 Insolvency (a) Borrower is unable
generally to pay its debts (including trade debts) as they become due; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within forty-five (45) days
(but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed); 
 8.6 Other Agreements. There is, under any agreement to which Borrower or any Guarantor is a party with a third party or parties, any default resulting in a right by such third party or parties,
whether or not exercised, to accelerate the maturity of any Indebtedness in an amount individually or in the aggregate in excess of Five Hundred Thousand Dollars ($500,000); 

8.7 Judgments. One or more final judgments, orders, or decrees for the payment of money in an amount, individually
or in the aggregate, of at least Five Hundred Thousand Dollars ($500,000) (not covered by independent third-party insurance as to which liability has been accepted by such insurance carrier) shall be rendered against Borrower and the same are not,
within ten (10) days after the entry thereof, discharged or execution thereof stayed or bonded pending appeal, or such judgments are not discharged prior to the expiration of any such stay (provided that no Credit Extensions will be made prior
to the discharge, stay, or bonding of such judgment, order, or decree); 
 8.8 Misrepresentations.
Borrower makes any representation, warranty, or other statement now or later in this Agreement, any Loan Document or in any writing delivered to Bank or to induce Bank to enter this 

  
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Agreement or any Loan Document, and such representation, warranty, or other statement is incorrect in any material respect when made; or 

8.9 Subordinated Debt. Any subordination provisions under any document, instrument, or agreement evidencing any
Subordinated Debt shall for any reason be revoked or invalidated or otherwise cease to be in full force and effect, any Person shall be in breach thereof or contest in any manner the validity or enforceability thereof or deny that it has any further
liability or obligation thereunder, or the Obligations shall for any reason be subordinated or shall not have the priority contemplated by this Agreement. 
  

	 	9	 BANK’S RIGHTS AND REMEDIES 

9.1 Rights and Remedies. While an Event of Default occurs and continues Bank may, without notice or demand, do any
or all of the following: 
 (a) declare all Obligations immediately due and payable (but if an Event of Default
described in Section 8.5 occurs all Obligations are immediately due and payable without any action by Bank); 
 (b) stop advancing money or extending credit for Borrower’s benefit under this Agreement or under any other agreement between Borrower and Bank; 

(c) demand that Borrower (i) deposit cash with Bank in an amount equal to 105% (for Letters of Credit denominated in
U.S. Dollars) or 110% (for Letters of Credit denominated in a currency other than U.S. Dollars) of the Dollar Equivalent of the aggregate face amount of all Letters of Credit remaining undrawn (plus all interest, fees, and costs due or to become due
in connection therewith (as estimated by Bank in its good faith business judgment)), to secure all of the Obligations relating to such Letters of Credit, as collateral security for the repayment of any future drawings under such Letters of Credit,
and Borrower shall forthwith deposit and pay such amounts, and (ii) pay in advance all letter of credit fees scheduled to be paid or payable over the remaining term of any Letters of Credit; 

(d) terminate any FX Forward Contracts; 

(e) on and after the Grant Effective Date, settle or adjust disputes and claims directly with Account Debtors for amounts
on terms and in any order that Bank considers advisable, notify any Person owing Borrower money of Bank’s security interest in such funds, and verify the amount of such account; 

(f) on and after the Grant Effective Date, make any payments and do any acts it considers necessary or reasonable to
protect the Collateral and/or its security interest in the Collateral including, without limitation, perfecting Bank’s security interest in all of Borrower’s assets and property. Borrower shall assemble the Collateral if Bank requests and
make it available as Bank designates. Bank may enter premises where the Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise any Lien which appears to be prior or superior to
its security interest and pay all expenses incurred. Borrower grants Bank a license to enter and occupy any of its premises, without charge, to exercise any of Bank’s rights or remedies; 

(g) apply to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) any amount held by
Bank owing to or for the credit or the account of Borrower; 
 (h) on and after the Grant Effective Date, ship,
reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the Collateral. Bank is hereby granted a non-exclusive, royalty-free license or other right to use, without charge, Borrower’s labels, Patents,
Copyrights, mask works, rights of use of any name, trade secrets, trade names, Trademarks, and advertising matter, or any similar property as it pertains to the Collateral, in completing production of, advertising for sale, and selling any
Collateral and, in connection with Bank’s exercise of its rights under this Section, Borrower’s rights under all licenses and all franchise agreements inure to Bank’s benefit; 

(i) place a “hold” on any account maintained with Bank and/or on and after the Grant Effective Date, deliver a
notice of exclusive control, any entitlement order, or other directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral; 

  
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 (j) on and after the Grant Effective Date, demand and receive possession of
Borrower’s Books; and 
 (k) exercise all rights and remedies available to Bank under the Loan Documents or
at law or equity, including all remedies provided under the Code (including on and after the Grant Effective Date, disposal of the Collateral pursuant to the terms thereof). 

9.2 Power of Attorney. Borrower hereby irrevocably appoints Bank as its lawful attorney-in-fact, exercisable on
and after the Grant Effective Date, to: (a) endorse Borrower’s name on any checks or other forms of payment or security; (b) sign Borrower’s name on any invoice or bill of lading for any Account or drafts against Account Debtors;
(c) settle and adjust disputes and claims about the Accounts directly with Account Debtors, for amounts and on terms Bank determines reasonable; (d) make, settle, and adjust all claims under Borrower’s insurance policies;
(e) pay, contest or settle any Lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to terminate or discharge the same; and (f) transfer the
Collateral into the name of Bank or a third party as the Code permits. Borrower hereby appoints Bank as its lawful attorney-in-fact to sign Borrower’s name on any documents necessary to perfect or continue the perfection of Bank’s security
interest in the Collateral on and after the Grant Effective Date, until all Obligations have been satisfied in full (other than inchoate indemnity obligations) and Bank is under no further obligation to make Credit Extensions hereunder. Bank’s
foregoing appointment as Borrower’s attorney in fact, and all of Bank’s rights and powers, coupled with an interest, are irrevocable until all Obligations have been fully repaid and performed (other than inchoate indemnity obligations) and
Bank’s obligation to provide Credit Extensions terminates. 
 9.3 Protective Payments. If Borrower
fails to obtain the insurance called for by Section 6.5 or fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document, Bank may obtain such insurance or
make such payment, and all amounts so paid by Bank are Bank Expenses and immediately due and payable, bearing interest at the then highest rate applicable to the Obligations, and, on and after the Grant Effective Date, secured by the Collateral.
Bank will make reasonable efforts to provide Borrower with notice of Bank obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Bank are deemed an agreement to make similar payments in the future
or Bank’s waiver of any Event of Default. 
 9.4 Application of Payments and Proceeds Upon Default.
If an Event of Default has occurred and is continuing, Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the
Collateral, or otherwise, to the Obligations in such order as Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Bank for any deficiency. If
Bank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Bank shall have the option, exercisable at any time, of either reducing the
Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Bank of cash therefor. 
 9.5 Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Bank, Bank
shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman,
bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral. 
 9.6 No
Waiver; Remedies Cumulative. Bank’s failure, at any time or times, to require strict performance by Borrower of any provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Bank thereafter to
demand strict performance and compliance herewith or therewith. No waiver hereunder shall be effective unless signed by the party granting the waiver and then is only effective for the specific instance and purpose for which it is given. Bank’s
rights and remedies under this Agreement and the other Loan Documents are cumulative. Bank has all rights and remedies provided under the Code, by law, or in equity. Bank’s exercise of one right or remedy is not an election and shall not
preclude Bank from exercising any other remedy under this Agreement or other remedy available at law or in equity, and Bank’s waiver of any Event of Default is not a continuing waiver. Bank’s delay in exercising any remedy is not a waiver,
election, or acquiescence. 

  
 -15-

 9.7 Demand Waiver. Borrower waives demand, notice of default or
dishonor, notice of payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Bank on which Borrower is
liable. 
  

	 	10	 NOTICES 

 All notices, consents, requests, approvals, demands, or other communication by any party to this Agreement or any other Loan Document must be in writing and shall be deemed to have been validly served,
given, or delivered: (a) upon the earlier of actual receipt and three (3) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt requested, with proper postage prepaid; (b) upon
transmission, when sent by electronic mail or facsimile transmission; (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or (d) when delivered, if hand-delivered by messenger, all of
which shall be addressed to the party to be notified and sent to the address, facsimile number, or email address indicated below. Bank or Borrower may change its mailing or electronic mail address or facsimile number by giving the other party
written notice thereof in accordance with the terms of this Section 10. 
  

							
	 If to Borrower:
	  	 Solazyme, Inc.
	 	
		  	 225 Gateway Blvd.
	 	
		  	 South San Francisco, CA 94080
	 	
		  	 Attn:
	 	  
	 	
		  	 Fax:
	 	  
	 	
		  	 Email:
	 	  
	 	
			
	 If to Bank:
	  	 Silicon Valley Bank
	 	
		  	 555 Mission Street,
9th Floor
	 	
		  	 San Francisco, CA 94105
	 	
		  	 Attn: Dan Baldi
	 	
		  	 Fax: 415-348-0259
	 	
		  	 Email:     dbaldi@svb.com
	 	

  

	 	11	 CHOICE OF LAW, VENUE, JURY TRIAL WAIVER, AND JUDICIAL REFERENCE 

California law governs the Loan Documents without regard to principles of conflicts of law. Borrower and Bank each submit
to the exclusive jurisdiction of the State and Federal courts in Santa Clara County, California; provided, however, that nothing in this Agreement shall be deemed to operate to preclude Bank from bringing suit or taking other legal action in any
other jurisdiction to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Bank. Borrower expressly submits and consents in advance to such jurisdiction in any action or suit
commenced in any such court, and Borrower hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby consents to the granting of such legal or equitable relief as is
deemed appropriate by such court. Borrower hereby waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service of such summons, complaints, and other process may be made by registered or
certified mail addressed to Borrower at the address set forth in, or subsequently provided by Borrower in accordance with, Section 10 of this Agreement and that service so made shall be deemed completed upon the earlier to occur of
Borrower’s actual receipt thereof or three (3) days after deposit in the U.S. mails, proper postage prepaid. 
 TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BORROWER AND BANK EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN
DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL.

 WITHOUT INTENDING IN ANY WAY TO LIMIT THE PARTIES’ AGREEMENT TO WAIVE THEIR RESPECTIVE RIGHT TO A TRIAL
BY JURY, if the above waiver of the right to a trial by jury is not enforceable, the parties hereto agree that any and all disputes or controversies of any nature between them arising at any time shall be decided by a reference to a private judge,
mutually selected by the parties (or, if they cannot agree, by the Presiding Judge of the Santa Clara County, California Superior Court) appointed in accordance with California Code of Civil Procedure Section 638 (or pursuant to comparable
provisions of federal law if the dispute falls within the 

  
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exclusive jurisdiction of the federal courts), sitting without a jury, in Santa Clara County, California; and the parties hereby submit to the jurisdiction of such court. The reference
proceedings shall be conducted pursuant to and in accordance with the provisions of California Code of Civil Procedure §§ 638 through 645.1, inclusive. The private judge shall have the power, among others, to grant provisional relief,
including without limitation, entering temporary restraining orders, issuing preliminary and permanent injunctions and appointing receivers. All such proceedings shall be closed to the public and confidential and all records relating thereto shall
be permanently sealed. If during the course of any dispute, a party desires to seek provisional relief, but a judge has not been appointed at that point pursuant to the judicial reference procedures, then such party may apply to the Santa Clara
County, California Superior Court for such relief. The proceeding before the private judge shall be conducted in the same manner as it would be before a court under the rules of evidence applicable to judicial proceedings. The parties shall be
entitled to discovery which shall be conducted in the same manner as it would be before a court under the rules of discovery applicable to judicial proceedings. The private judge shall oversee discovery and may enforce all discovery rules and orders
applicable to judicial proceedings in the same manner as a trial court judge. The parties agree that the selected or appointed private judge shall have the power to decide all issues in the action or proceeding, whether of fact or of law, and shall
report a statement of decision thereon pursuant to California Code of Civil Procedure § 644(a). Nothing in this paragraph shall limit the right of any party at any time to exercise self-help remedies, foreclose against collateral, or obtain
provisional remedies. The private judge shall also determine all issues relating to the applicability, interpretation, and enforceability of this paragraph. 
  

	 	12	 GENERAL PROVISIONS 

 12.1 Successors and Assigns. This Agreement binds and is for the benefit of the successors and permitted assigns of each party. Borrower may not assign this Agreement or any rights or
obligations under it without Bank’s prior written consent (which may be granted or withheld in Bank’s discretion). Bank has the right, without the consent of or notice to Borrower, to sell, transfer, assign, negotiate, or grant
participation in all or any part of, or any interest in, Bank’s obligations, rights, and benefits under this Agreement and the other Loan Documents. Notwithstanding the foregoing, prior to the occurrence of an Event of Default, Bank shall not
assign any interest in the Loan Documents to an operating company which is also a direct competitor of Borrower. 
 12.2 Indemnification. Borrower agrees to indemnify, defend and hold Bank and its directors, officers, employees, agents, attorneys, or any other Person affiliated with or representing Bank (each,
an “Indemnified Person”) harmless against: (a) all obligations, demands, claims, and liabilities (collectively, “Claims”) claimed or asserted by any other party in connection with the transactions
contemplated by the Loan Documents; and (b) all losses or related expenses (including Bank Expenses) in any way suffered, incurred, or paid by such Indemnified Person as a result of, following from, consequential to, or arising from
transactions between Bank and Borrower contemplated by the Loan Documents (including reasonable attorneys’ fees and expenses), except for Claims and/or losses caused by such Indemnified Person’s gross negligence or willful misconduct.

 12.3 Time of Essence. Time is of the essence for the performance of all Obligations in this Agreement.

 12.4 Severability of Provisions. Each provision of this Agreement is severable from every other
provision in determining the enforceability of any provision. 
 12.5 Correction of Loan Documents. Bank
may correct patent errors and fill in any blanks in the Loan Documents consistent with the agreement of the parties so long as Bank provides Borrower with written notice of such correction and allows Borrower at least ten (10) days to object to
such correction. In the event of such objection, such correction shall not be made except by an amendment signed by both Bank and Borrower. 
 12.6 Amendments in Writing; Waiver; Integration. No purported amendment or modification of any Loan Document, or waiver, discharge or termination of any obligation under any Loan Document, shall be
enforceable or admissible unless, and only to the extent, expressly set forth in a writing signed by the party against which enforcement or admission is sought. Without limiting the generality of the foregoing, no oral promise or statement, nor any
action, inaction, delay, failure to require performance or course of conduct shall operate as, or evidence, an amendment, supplement or waiver or have any other effect on any Loan Document. Any waiver granted shall be limited to the specific
circumstance expressly described in it, and shall not apply to any subsequent or other circumstance, whether similar or dissimilar, or give rise to, or evidence, any obligation or commitment to grant any further waiver. The Loan Documents represent
the entire agreement about this subject matter and 

  
 -17-

 
supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of the Loan Documents
merge into the Loan Documents. 
 12.7 Counterparts. This Agreement may be executed in any number of
counterparts and by different parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one Agreement. 

12.8 Survival. All covenants, representations and warranties made in this Agreement continue in full force until
this Agreement has terminated pursuant to its terms and all Obligations (other than inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) have been paid in full and
satisfied. The obligation of Borrower in Section 12.2 to indemnify Bank shall survive until the statute of limitations with respect to such claim or cause of action shall have run. 

12.9 Confidentiality. Bank shall keep all information provided by or on behalf of Borrower or its Subsidiaries
confidential, but disclosure of information may be made: (a) to Bank’s Subsidiaries or Affiliates (such Subsidiaries and Affiliates, together with Bank, collectively, “Bank Entities”) provided that such Subsidiaries or Affiliates
shall be required to keep such information confidential in accordance with the terms hereof; (b) to prospective transferees or purchasers of any interest in the Credit Extensions (provided, however, Bank shall obtain any prospective
transferee’s or purchaser’s agreement to the terms of this provision); (c) as required by law, regulation, subpoena, or other order; (d) to Bank’s regulators or as otherwise required in connection with Bank’s
examination or audit; (e) as Bank considers appropriate in exercising remedies under the Loan Documents; and (f) to third-party service providers of Bank so long as such service providers have executed a confidentiality agreement with Bank
with terms no less restrictive than those contained herein. Confidential information does not include information that is either: (i) in the public domain or in Bank’s possession when disclosed to Bank, or becomes part of the public
domain after disclosure to Bank; or (ii) disclosed to Bank by a third party if Bank does not know that the third party is prohibited from disclosing the information. 

Bank Entities may use the confidential information for reporting purposes and the development and distribution of
databases and market analyses so long as such confidential information is aggregated and anonymized prior to distribution unless otherwise expressly prohibited by Borrower. The provisions of the immediately preceding sentence shall survive
the termination of this Agreement. 
 12.10 Attorneys’ Fees, Costs and Expenses. In any action or
proceeding between Borrower and Bank arising out of or relating to the Loan Documents, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and other costs and expenses incurred, in addition to any other relief to
which it may be entitled. 
 12.11 Electronic Execution of Documents. The words “execution,”
“signed,” “signature” and words of like import in any Loan Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity and
enforceability as a manually executed signature or the use of a paper-based recordkeeping systems, as the case may be, to the extent and as provided for in any applicable law, including, without limitation, any state law based on the Uniform
Electronic Transactions Act. 
 12.12 Captions. The headings used in this Agreement are for convenience
only and shall not affect the interpretation of this Agreement. 
 12.13 Construction of Agreement. The
parties mutually acknowledge that they and their attorneys have participated in the preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the
uncertainty to exist. 
 12.14 Relationship. The relationship of the parties to this Agreement is
determined solely by the provisions of this Agreement. The parties do not intend to create any agency, partnership, joint venture, trust, fiduciary or other relationship with duties or incidents different from those of parties to an
arm’s-length contract. 
 12.15 Third Parties. Nothing in this Agreement, whether express or
implied, is intended to: (a) confer any benefits, rights or remedies under or by reason of this Agreement on any persons other than the express parties to it and their respective permitted successors and assigns; (b) relieve or discharge
the obligation or liability of any person not an express party to this Agreement; or (c) give any person not an express party to this Agreement any right of subrogation or action against any party to this Agreement. 

  
 -18-

	 	13	 DEFINITIONS 

 13.1 Definitions. As used in the Loan Documents, the word “shall” is mandatory, the word “may” is permissive, the word “or” is not exclusive, the words
“includes” and “including” are not limiting, the singular includes the plural, and numbers denoting amounts that are set off in brackets are negative. As used in this Agreement, the following capitalized terms have the following
meanings: 
 “Account” is any “account” as defined in the Code with such additions to
such term as may hereafter be made, and includes, without limitation, all accounts receivable and other sums owing to Borrower. 
 “Account Debtor” is any “account debtor” as defined in the Code with such additions to such term as may hereafter be made. 

“Advance” or “Advances” means an advance (or advances) under the Revolving Line.

 “Affiliate” is (i) with respect to any Person (other than Bank), each other Person that
owns or controls directly or indirectly the Person, any Person that controls or is controlled by or is under common control with the Person; and (ii) with respect to Bank, each other Person that owns or controls directly or indirectly the
Person, any Person that controls or is controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners and, for any Person that is a limited liability company, that
Person’s managers and members. 
 “Agreement” is defined in the preamble hereof.

 “Availability Amount” is (a) the Revolving Line minus (b) the Dollar Equivalent
amount of all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) plus an amount equal to the Letter of Credit Reserve, minus (c) the FX Reduction Amount, and minus (d) the outstanding principal balance of
any Advances. 
 “Bank” is defined in the preamble hereof. 

“Bank Expenses” are all audit fees and expenses, costs, and expenses (including reasonable
attorneys’ fees and expenses) of Bank for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency Proceedings) or
otherwise incurred with respect to Borrower. 
 “Borrower” is defined in the preamble hereof.

 “Borrower’s Books” are all Borrower’s books and records including ledgers, federal
and state tax returns, records regarding Borrower’s assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment containing such information. 

“Borrowing Resolutions” are, with respect to any Person, those resolutions adopted by such
Person’s Board of Directors and delivered by such Person to Bank approving the Loan Documents to which such Person is a party and the transactions contemplated thereby, together with a certificate executed by its Secretary or authorized officer
on behalf of such Person certifying that (a) such Person has the authority to execute, deliver, and perform its obligations under each of the Loan Documents to which it is a party, (b) that attached as Exhibit A to such certificate is a
true, correct, and complete copy of the resolutions then in full force and effect authorizing and ratifying the execution, delivery, and performance by such Person of the Loan Documents to which it is a party, (c) the name(s) of the Person(s)
authorized to execute the Loan Documents on behalf of such Person, together with a sample of the true signature(s) of such Person(s), and (d) that Bank may conclusively rely on such certificate unless and until such Person shall have delivered
to Bank a further certificate canceling or amending such prior certificate. 
 “Business
Day” is any day that is not a Saturday, Sunday or a day on which Bank is closed. 
 “Cash
Equivalents” means (a) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition;
(b) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc.; (c) certificates of deposit,
bankers 

  
 -19-

 
acceptances and demand or time deposits issued or offered by any commercial bank which has a combined capital and surplus and undivided profits of not less than $250,000,000, in each case
maturing no more than one (1) year after issue; and (d) money market funds at least ninety-five percent (95%) of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (c) of this
definition. 
 “CFC” means (a) each Person that is a “controlled foreign
corporation” for purposes of the US Internal Revenue Code and (b) each subsidiary of any such controlled foreign corporation. 
 “CFC Holding Company” means a Subsidiary of Borrower substantially all of the assets of which consist of Equity Interests in CFCs. 

“Code” is the Uniform Commercial Code, as the same may, from time to time, be enacted and in effect in
the State of California; provided, that, to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently in different Articles or Divisions of the Code, the definition of such term contained
in Article or Division 9 shall govern; provided further, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or remedies with respect to, Bank’s Lien on any Collateral is
governed by the Uniform Commercial Code in effect in a jurisdiction other than the State of California, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes
of the provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of definitions relating to such provisions. 
 “Collateral” is any and all properties, rights and assets of Borrower described on Exhibit A. 

“Collateral Account” is any Deposit Account, Securities Account, or Commodity Account. 

“Commodity Account” is any “commodity account” as defined in the Code with such additions to
such term as may hereafter be made. 
 “Compliance Certificate” is that certain certificate in
the form attached hereto as Exhibit D. 
 “Contingent Obligation” is, for any Person,
any direct or indirect liability, contingent or not, of that Person for (a) any Indebtedness under clauses (a) through (d) of the definition thereof of another Person; (b) any obligations for undrawn letters of credit for the
account of that Person; and (c) all obligations from any interest rate, currency or commodity swap agreement, interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in
interest rates, currency exchange rates or commodity prices (in each case, a “Hedging Obligation”); but “Contingent Obligation” does not include endorsements in the ordinary course of business. The amount of a Contingent
Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinable, the maximum reasonably anticipated liability for it determined by the Person in good faith; but the amount
may not exceed the maximum of the obligations under any guarantee or other support arrangement. 

“Control Agreement” is any control agreement entered into among the depository institution at which
Borrower maintains a Deposit Account or the securities intermediary or commodity intermediary at which Borrower maintains a Securities Account or a Commodity Account, Borrower, and Bank pursuant to which Bank obtains control (within the meaning of
the Code) over such Deposit Account, Securities Account, or Commodity Account. 
 “Copyrights”
are any and all copyright rights, copyright applications, copyright registrations and like protections in each work or authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade
secret. 
 “Credit Extension” is any Advance, Letter of Credit, Term Loan, FX Forward Contract,
or any other extension of credit by Bank for Borrower’s benefit. 
 “Default Rate” is
defined in Section 2.3(b). 
 “Deposit Account” is any “deposit account” as
defined in the Code with such additions to such term as may hereafter be made. 

  
 -20-

 “Designated Deposit Account” is Borrower’s deposit
account, account number                     , maintained with Bank. 

“Dollars,” “dollars” or use of the sign “$” means
only lawful money of the United States and not any other currency, regardless of whether that currency uses the “$” sign to denote its currency or may be readily converted into lawful money of the United States. 

“Dollar Equivalent” is, at any time, (a) with respect to any amount denominated in Dollars, such
amount, and (b) with respect to any amount denominated in a Foreign Currency, the equivalent amount therefor in Dollars as determined by Bank at such time on the basis of the then-prevailing rate of exchange in San Francisco, California, for
sales of the Foreign Currency for transfer to the country issuing such Foreign Currency. 
 “Effective
Date” is defined in the preamble hereof. 
 “Equipment” is all “equipment”
as defined in the Code with such additions to such term as may hereafter be made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing. 

“Equity Interests” means shares of capital stock, partnership interests, membership interests,
beneficial interests or other ownership interests, whether voting or nonvoting, in, or interests in the income or profits of, a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any of the
foregoing. 
 “ERISA” is the Employee Retirement Income Security Act of 1974, and its
regulations. 
 “Event of Default” is defined in Section 8. 

“Exchange Act” is the Securities Exchange Act of 1934, as amended. 

“Excluded Assets” means (i) any US Agency Grant Funds, any Collateral Accounts holding US Agency
Grant Funds, any assets purchased (including by reimbursing Borrower for such purchases) in whole or in part with US Agency Grant Funds, any inventory produced with equipment purchased (including by reimbursing Borrower for such purchases) in whole
or in part with US Agency Grant Funds and any revenues produced from any of the foregoing and any proceeds of the foregoing, and (ii) any assets subject to Liens permitted pursuant to clause (o) of the definition of “Permitted
Liens”; provided, however, in no event will “Excluded Assets” include any domestic operating and other deposit accounts and securities accounts maintained with Bank and Bank’s Affiliates. 

“Financial Covenant Default” means (a) Borrower fails or neglects to perform any obligation in
Section 6.7(a)(i) and has not cured such violation within thirty (30) days after the occurrence thereof, or (b) Borrower fails or neglects to perform any obligation in Section 6.7(a)(ii). 

“Foreign Currency” means lawful money of a country other than the United States. 

“Foreign Subsidiary” means a Subsidiary that is not organized under the laws of the United States or any
state thereof or the District of Columbia. 
 “Funding Date” is any date on which a
Credit Extension is made to or for the account of Borrower which shall be a Business Day. 

“FX Business Day” is any day when (a) Bank’s Foreign Exchange Department is conducting
its normal business and (b) the Foreign Currency being purchased or sold by Borrower is available to Bank from the entity from which Bank shall buy or sell such Foreign Currency. 

“FX Forward Contract” is defined in Section 2.1.3. 

“FX Reduction Amount” is defined in Section 2.1.3. 

“FX Reserve” is defined in Section 2.1.3. 

  
 -21-

 “GAAP” is generally accepted accounting principles set
forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such
other Person as may be approved by a significant segment of the accounting profession, which are applicable to the circumstances as of the date of determination. 

“General Intangibles” is all “general intangibles” as defined in the Code in effect on the
date hereof with such additions to such term as may hereafter be made, and includes without limitation, all Intellectual Property, claims, income and other tax refunds, security and other deposits, payment intangibles, contract rights, options to
purchase or sell real or personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance policies (including without limitation key man, property damage, and business interruption
insurance), payments of insurance and rights to payment of any kind. 
 “Governmental Approval”
is any consent, authorization, approval, order, license, franchise, permit, certificate, accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority. 

“Governmental Authority” is any nation or government, any state or other political subdivision thereof,
any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities exchange and any
self-regulatory organization. 
 “Grant Effective Date” is defined in Section 4.1.

 “Guarantor” is any present or future guarantor of the Obligations. 

“Hedging Obligation” is defined in the definition of “Contingent Obligation.” 

“Indebtedness” is (a) indebtedness for borrowed money or the deferred price of property or
services, (b) reimbursement and other obligations for surety bonds and letters of credit, (c) obligations evidenced by notes, bonds, debentures or similar instruments, (d) capital lease obligations, and (e) Contingent
Obligations. 
 “Indemnified Person” is defined in Section 12.2. 

“Insolvency Proceeding” is any proceeding by or against any Person under the United States Bankruptcy
Code, or any other bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking reorganization, arrangement, or other relief. 

“Intellectual Property” means all of Borrower’s right, title, and interest in and to the following:

 (a) Copyrights, Trademarks and Patents that Borrower owns; 

(b) any and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented
inventions, know-how, operating manuals; 
 (c) any and all source code; 

(d) any and all design rights which may be available to Borrower; 

(e) any and all claims for damages by way of past, present and future infringement of any of the foregoing, with the
right, but not the obligation, to sue for and collect such damages for said use or infringement of the Intellectual Property rights identified above; and 
 (f) all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents owned by Borrower. 
 “Inventory” is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all
merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory 

  
 -22-

 
as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above. 

“Investment” is any beneficial ownership interest in any Person (including stock, partnership interest
or other securities), and any loan, advance or capital contribution to any Person. 
 “Letter of
Credit” means a standby letter of credit issued by Bank or another institution based upon an application, guarantee, indemnity or similar agreement on the part of Bank as set forth in Section 2.1.2. 

“Letter of Credit Application” is defined in Section 2.1.2(b). 

“Letter of Credit Reserve” has the meaning set forth in Section 2.1.2(e). 

“Lien” is a claim, mortgage, deed of trust, levy, charge, pledge, security interest or other encumbrance
of any kind, whether voluntarily incurred or arising by operation of law or otherwise against any property. 

“Loan Documents” are, collectively, this Agreement, the Perfection Certificate, any note, or notes or
guaranties executed by Borrower or any Guarantor, and any other present or future agreement between Borrower any Guarantor and/or for the benefit of Bank in connection with this Agreement, all as amended, restated, or otherwise modified. 

“Material Adverse Change” is (a) a material impairment in the perfection or priority of Bank’s
Lien in the Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of Borrower and its consolidated Subsidiaries, taken as a whole; or (c) a material impairment of the prospect of
repayment of any portion of the Obligations. 
 “Monthly Financial Statements” is defined in
Section 6.2(b). 
 “Obligations” are Borrower’s obligations to pay when due any
debts, principal, interest, Bank Expenses and other amounts Borrower owes Bank now or later, under this Agreement or the other Loan Documents, or otherwise, including, without limitation, all obligations relating to letters of credit (including
reimbursement obligations for drawn and undrawn letters of credit), cash management services, and foreign exchange contracts, if any, and including interest accruing after Insolvency Proceedings begin and debts, liabilities, or obligations of
Borrower assigned to Bank, and to perform Borrower’s duties under the Loan Documents. 
 “Operating
Documents” are, for any Person, such Person’s formation documents, as certified with the Secretary of State of such Person’s state of formation on a date that is no earlier than 30 days prior to the Effective Date, and,
(a) if such Person is a corporation, its bylaws in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its
partnership agreement (or similar agreement), each of the foregoing with all current amendments or modifications thereto. 
 “Patents” means all patents and patent applications including without limitation, divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same.

 “Payment/Advance Form” is that certain form attached hereto as Exhibit B. 

“Peoria Equipment” is up to One Million Dollars ($1,000,000) of equipment purchased with proceeds from
the Peoria Financing. 
 “Peoria Financing” means a financing in the aggregate amount of up to
Five and a Half Million Dollars ($5,500,000) for the purchase of plant, property and equipment, and rights related to the use thereof, including water riparian rights. 

“Perfection Certificate” is defined in Section 5.1. 

“Permitted Distributions” are: 

  
 -23-

 (a) purchases of capital stock from former employees, consultants and
directors in an aggregate amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000) in any fiscal year provided that at the time of such purchase no Event of Default has occurred and is continuing; 

(b) distributions or dividends consisting solely of Borrower’s capital stock; 

(c) purchases for value of any rights distributed in connection with any stockholder rights plan; 

(d) purchases of capital stock or options to acquire such capital stock with the proceeds received from a substantially
concurrent issuance of capital stock or convertible securities; 
 (e) purchases of capital stock pledged as
collateral for loans to employees; 
 (f) purchases of capital stock in connection with the exercise of stock
options or stock appreciation rights by way of cashless exercise or in connection with the satisfaction of withholding tax obligations; and 
 (g) purchases of fractional shares of capital stock arising out of stock dividends, splits or combinations or business combinations or in connection with the issuance of warrants, options or other
securities convertible or exchangeable into or exchangeable for capital stock in Borrower. 
 “Permitted
Indebtedness” is: 
 (a) Borrower’s Indebtedness to Bank under this Agreement and the other Loan
Documents; 
 (b) Indebtedness existing on the Effective Date and shown on the Perfection Certificate as of the
Effective Date; 
 (c) Subordinated Debt; 

(d) unsecured Indebtedness to trade creditors incurred in the ordinary course of business; 

(e) Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business;

 (f) Indebtedness secured by Liens permitted under clauses (a) and (c) of the definition of
“Permitted Liens” hereunder; 
 (g) capital lease obligations; 

(h) Indebtedness of Borrower or any Subsidiary to Borrower or any Subsidiary; 

(i) Guarantees of Permitted Indebtedness; 

(j) Indebtedness of any Person that becomes a Subsidiary (or of any Person not previously a Subsidiary that is merged or
consolidated with or into a Subsidiary in a transaction permitted hereunder) after the date hereof, or Indebtedness of any Person that is assumed by Borrower or any Subsidiary in connection with an acquisition of assets by Borrower or such
Subsidiary in an acquisition permitted hereunder or another Permitted Investment; provided that (i) such Indebtedness exists at the time such Person becomes a Subsidiary (or is so merged or consolidated) or such assets are acquired and
is not created in contemplation of or in connection with such Person becoming a Subsidiary (or such merger or consolidation) or such assets being acquired, (ii) neither Borrower nor any Subsidiary (other than such Person or the Person with
which such Person is merged or consolidated or that so assumes such Person’s Indebtedness) shall guarantee or otherwise become liable for the payment of such Indebtedness and (iii) so long as no Event of Default has occurred at the time of
such transaction or will occur as a result of such transaction and in the case of such transaction involving Borrower, Borrower is the surviving legal entity; 
 (k) Indebtedness owed in respect of any overdrafts and related liabilities arising from treasury, depository, credit-card and cash management services or in connection with any automated clearing house
transfers of funds; provided that such Indebtedness shall be repaid in full before the same shall become delinquent; 

  
 -24-

 (l) Indebtedness in respect of letters of credit, bank guarantees and
similar instruments issued for the account of the Borrower or any Subsidiary in the ordinary course of business supporting obligations under (i) workers’ compensation, unemployment insurance and other social security laws and
(ii) bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and obligations of a like nature incurred in the ordinary course of business; 

(m) Indebtedness of the Borrower or any Subsidiary in the form of purchase price adjustments, earn-outs, non-competition
agreements or other arrangements representing acquisition consideration or deferred payments of a similar nature incurred in connection with any Permitted Investment; 

(n) non-speculative Hedging Obligations in the ordinary course of business; 

(o) the Peoria Financing; 
 (p) extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (n) above, provided that the principal amount thereof is not increased
or the terms thereof are not modified to impose more burdensome terms upon Borrower or its Subsidiary, as the case may be; 
 (q) Indebtedness in respect of letters of credit in an aggregate face amount not exceeding One Million Dollars ($1,000,000); 

(r) Indebtedness in respect of lines of credit provided to Foreign Subsidiaries; and 

(s) other Indebtedness in an aggregate principal amount not to exceed $2,500,000 at any time outstanding. 

“Permitted Investments” are: 

(a) Investments (including, without limitation, Subsidiaries) existing on the Effective Date; 

(b) (i) Investments consisting of Cash Equivalents, and (ii) any Investments approved by Borrower’s Board of
Directors or otherwise pursuant to a Board-approved investment policy; 
 (c) Investments consisting of the
endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of Borrower; 
 (d) Investments consisting of Collateral Accounts so long as on and after the Grant Effective Date, Bank has a perfected security interest in such account if and to the extent required under
Section 6.6(b); 
 (e) Investments accepted in connection with Transfers permitted by Section 7.1;

 (f) Investments (i) by Borrower in Subsidiaries, so long as such Investments are made in good faith by
Borrower for bona fide business purposes, including the establishment and operation of such Subsidiary, and (ii) by Subsidiaries in other Subsidiaries or in Borrower; 

(g) Investments consisting of (i) travel advances and employee relocation loans and other employee loans and
advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to employee stock purchase plans or agreements approved by
Borrower’s Board of Directors; 
 (h) Investments (including debt obligations) received in connection with
the bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business including the Transfers of accounts receivable in
the ordinary course of business in connection with the collection or compromise thereof; 
 (i) Investments
consisting of extensions of credit to Borrower’s or its Subsidiaries’ customers in the nature of accounts receivable, prepaid royalties or notes receivable in the ordinary course of business arising from the sale or lease of goods,
provision of services or licensing activities of Borrower; 

  
 -25-

 (j) non-speculative Hedging Obligations in the ordinary course of business;

 (k) licensing and other contributions of Intellectual Property to joint ventures, and research and/or
development agreements; 
 (l) additional Investments in joint ventures; 

(m) Investments in an aggregate outstanding amount not to exceed $5,000,000 at any time; and 

(n) Investments permitted by Section 7.3. 

“Permitted Liens” are: 

(a) Liens existing on the Effective Date and shown on the Perfection Certificate or arising under this Agreement and the
other Loan Documents; 
 (b) Liens for taxes, fees, assessments or other government charges or levies, either
(i) not due and payable or (ii) being contested in good faith and for which Borrower maintains adequate reserves on its Books, provided that no notice of any such Lien or Liens have been filed or recorded under the Internal Revenue
Code of 1986, as amended, and the Treasury Regulations adopted thereunder in an aggregate amount in excess of One Million Dollars ($1,000,000) and no collection proceedings with respect to such Liens have begun against any property of Borrower
(other than the filing of a notice of any such Lien or Liens); 
 (c) (i) Liens on assets acquired or held by
Borrower or any Subsidiary incurred for financing the acquisition of such assets, if the Lien is confined to the property acquired and improvements and the proceeds of such assets, or (ii) Liens existing on assets when acquired,
if the Lien is confined to the property acquired and improvements and the proceeds of such assets; 
 (d)
Liens of carriers, warehousemen, suppliers, or other Persons that are possessory in nature arising in the ordinary course of business so long as such Liens are not delinquent or remain payable without penalty or which are being contested in good
faith and by appropriate proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto; 
 (e) Liens to secure payment of workers’ compensation, employment insurance, old-age pensions, social security and other like obligations incurred in the ordinary course of business (other than Liens
imposed by ERISA); 
 (f) any Lien existing on any asset of any Person that becomes a Subsidiary (or of any
Person not previously a Subsidiary that is merged or consolidated with or into Borrower or a Subsidiary in a transaction permitted hereunder) after the date hereof prior to the time such Person becomes a Subsidiary (or is so merged or consolidated);
provided that (i) such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary (or such merger or consolidation), (ii) such Lien shall not apply to any other asset of
Borrower or any Subsidiary and (iii) such Lien shall secure only those obligations that it secures on the date of such acquisition or the date such Person becomes a Subsidiary (or is so merged or consolidated); 

(g) Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in
(a) through (f), but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase; 

(h) leases or subleases of real property granted in the ordinary course of Borrower’s business (or, if referring to
another Person, in the ordinary course of such Person’s business), and leases, subleases, non-exclusive licenses or sublicenses of personal property (other than Intellectual Property) granted in the ordinary course of Borrower’s business
(or, if referring to another Person, in the ordinary course of such Person’s business), if the leases, subleases, licenses and sublicenses do not prohibit granting Bank a security interest therein; 

  
 -26-

 (i) (1) licenses of Intellectual Property of Borrower or its Subsidiaries,
and (2) other contributions of Intellectual Property to joint ventures, research and/or development programs, material transfer agreements or evaluation agreements; 

(j) Liens arising from attachments or judgments, orders, or decrees in circumstances not constituting an Event of Default
under Sections 8.4 and 8.7 junior to the Lien of Bank; 
 (k) Liens in favor of other financial institutions
arising in connection with deposit and/or securities accounts held at such institutions, provided that on and after the Grant Effective Date, Bank has a perfected security interest in the amounts held in such deposit and/or securities accounts if
and to the extent required under Section 6.6(b); 
 (l) Liens in favor of custom and revenue authorities
arising as a matter of law to secure the payment of custom duties in connection with the importation of goods; 

(m) [Reserved]; 
 (n) deposits to secure the performance of bids, trade contracts (other than for borrowed money), contracts for the purchase of property, leases, statutory obligations, surety and appeal bonds, performance
bonds and other obligations of a like nature, in each case, incurred in the ordinary course of business and not representing an obligation for borrowed money; 
 (o) Liens securing obligations owed in connection with the Peoria Financing on assets financed in whole or in part with proceeds of the Peoria Financing and on other real estate adjacent or related
thereto; 
 (p) easements, zoning restrictions, rights-of-way, licenses, reservations, covenants, utility
easements, building restrictions and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property
or interfere with the ordinary conduct of business of the Borrower or any Subsidiary; 
 (q) any interest or
title of a lessor under any capital lease; provided that interest or title does not extend to any property other than the property leased by such lessor to Borrower or any of its Subsidiary under such capital lease; 

(r) pledges and deposits in the ordinary course of business securing insurance premiums or reimbursement obligations
under insurance policies, in each case payable to insurance carriers that provide insurance to Borrower and any Subsidiary; 
 (s) Liens on deposit accounts, certificates of deposits or other cash or securities pledged in an aggregate face amount not exceeding One Million Dollars ($1,000,000) to secure reimbursement obligations
with respect to letters of credit which encumber documents and other property relating to letters of credit and products and proceeds thereof; 
 (t) Liens attaching solely to cash earnest money deposits in connection with Investments permitted by Section 7.3; 

(u) Liens arising out of conditional sale, title retention, consignment or similar arrangements for sale of goods entered
into by Borrower or any Subsidiary in the ordinary course of business covering such goods and not prohibited by this Agreement; and 
 (v) Liens securing obligations in an aggregate outstanding principal amount not exceeding $1,000,000 at any time. 
 “Permitted Pledged Accounts” are Collateral Accounts subject to Liens permitted pursuant to clauses (f), (g) (to the extent related to Liens permitted pursuant to clauses (f)), (n),
(r), (s), (t) and (v) (so long as the aggregate amount held in such Collateral Accounts pledged pursuant to clause (v) does not exceed the aggregate amount of obligations so secured) of the definition of “Permitted Liens”;
provided, however, in no event will “Permitted Pledged Accounts” include any domestic operating and other deposit accounts and securities accounts maintained with Bank and Bank’s Affiliates. 

  
 -27-

 “Person” is any individual, sole proprietorship,
partnership, limited liability company, joint venture, company, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency. 

“Qualifying IPO” is the initial public offering of common stock of Borrower pursuant to which Borrower
receives gross proceeds in excess of $75,000,000. 
 “Registered Organization” is any
“registered organization” as defined in the Code with such additions to such term as may hereafter be made. 
 “Requirement of Law” is as to any Person, the organizational or governing documents of such Person, and any law (statutory or common), treaty, rule or regulation or determination of an
arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 

“Responsible Officer” is any of the Chief Executive Officer, President, Chief Financial Officer,
Treasurer and Controller of Borrower.  
 “Revolving Line” is an Advance or Advances in
an aggregate amount equal to Five Million Dollars ($5,000,000). 
 “Revolving Line Maturity Date”
is one (1) year plus three hundred sixty four (364) days after the Effective Date. 

“Revolving Line Termination Fee” is defined in Section 2.1.1(b). 

“SEC” shall mean the Securities and Exchange Commission, any successor thereto, and any analogous
Governmental Authority. 
 “Securities Account” is any “securities account” as
defined in the Code with such additions to such term as may hereafter be made. 
 “Settlement
Date” is defined in Section 2.1.3. 
 “Subordinated Debt” is indebtedness incurred by
Borrower subordinated to all of Borrower’s now or hereafter indebtedness to Bank (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into between Bank and the other
creditor). 
 “Subsidiary” is, as to any Person, a corporation, partnership, limited liability
company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of
the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person.
Unless the context otherwise requires, each reference to a Subsidiary herein shall be a reference to a Subsidiary of Borrower. 
 “Term Loan Amortization Date” is, for each Term Loan, December 1, 2011 
 “Term Loan Interest Only Period” means, for each Term Loan, the period of time commencing on its Funding Date through the day before its Term Loan Amortization Date. 

“Term Loan Maturity Date” is November 1, 2015. 

“Term Loan Scheduled Payment” is defined in Section 2.1.5(b). 

“Term Loan Scheduled Payment Date” is defined in Section 2.1.5(b). 

  
 -28-

 “Trademarks” means any trademark and servicemark rights,
whether registered or not, applications to register and registrations of the same and like protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks. 

“Transfer” is defined in Section 7.1. 

“US Agency” means any department or agency of the United States of America or any State thereof.

 “US Agency Grant Funds” means any funds disbursed by a US Agency to Borrower. 

“WSJ Prime Rate” is the then per annum rate of interest most recently quoted as the “Prime
Rate” in the Wall Street Journal Western Edition. 
 [Signature page follows.] 

  
 -29-

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be executed as of the Effective Date. 
 BORROWER: 
  

			
	 SOLAZYME, INC.

		
	 By
	 	 /s/ Tyler Painter

	 Name:
	 	 Tyler Painter

	 Title:
	 	 CFO

	
	 BANK:

	
	 SILICON VALLEY BANK

		
	 By
	 	 /s/ Dan Baldi

	 Name:
	 	 Dan Baldi

	 Title:
	 	 Relationship Manager

[Signature page to Loan and Security Agreement] 

 EXHIBIT A – COLLATERAL DESCRIPTION 

The Collateral consists of all of Borrower’s right, title and interest in and to the following personal property: 

All goods, Accounts (including health-care receivables), Equipment, Inventory, rights to payment of money, payment
intangibles, General Intangibles (except as described below) documents, instruments (including any promissory notes), chattel paper, cash, deposit accounts, fixtures, letters of credit rights (whether or not the letter of credit is evidenced by a
writing), securities, and all other investment property, supporting obligations, and financial assets, whether now owned or hereafter acquired, wherever located; and all Borrower’s Books relating to the foregoing, and any and all claims, rights
and interests in any of the above and all substitutions for, additions, attachments, accessories, accessions and improvements to and replacements, proceeds and insurance proceeds of any or all of the foregoing; provided that such security interest
shall not be effective unless and until a Financial Covenant Default has occurred. 
 Notwithstanding the
foregoing, the Collateral does not include: 
 (a) motor vehicles as to which the perfection of a security
interest is excluded from the Code. 
 (b) Equity Interests representing more than 65% of the voting power of
presently existing and hereafter arising issued and outstanding Equity Interests owned by Borrower of any “first-tier” Foreign Subsidiary which Equity Interests entitle the holder thereof to vote for directors or any other matter.

 (c) Equity Interests in any CFC Holding Company representing more than 65% of the voting power of presently
existing and hereafter arising issued and outstanding Equity Interests owned by Borrower. 
 (d) assets subject
to Liens on (i) assets acquired or held by Borrower incurred for financing the acquisition of such assets, or (ii) existing on assets when acquired, if the Lien is confined to the property acquired and improvements and the proceeds
of such assets, and Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in this clause (d), but any extension, renewal or replacement Lien must be limited to the property encumbered by the
existing Lien and the principal amount of the indebtedness may not increase. 
 (e) assets subject to any Lien
existing on any asset of any Person that becomes a Subsidiary (or of any Person not previously a Subsidiary that is merged or consolidated with or into Borrower or a Subsidiary in a transaction permitted hereunder) after the date hereof prior to the
time such Person becomes a Subsidiary (or is so merged or consolidated); provided that (i) such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary (or such merger or
consolidation), (ii) such Lien shall not apply to any other asset of Borrower or any Subsidiary (other than, in the case of any such merger or consolidation, the assets of any Person that is a party thereto) and (iii) such Lien shall
secure only those obligations that it secures on the date of such acquisition or the date such Person becomes a Subsidiary (or is so merged or consolidated), and Liens incurred in the extension, renewal or refinancing of the indebtedness secured by
Liens described in this clause (e), but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase. 

(f) any Excluded Assets. 
 (g) any contract, instrument or chattel paper in which the Borrower has any right, title or interest if and to the extent any such contract, instrument or chattel paper includes a provision containing a
restriction on assignment such that the creation of a security interest in the right, title or interest of Borrower therein would be prohibited and would, in and of itself, cause or result in a default thereunder enabling another person party to
such contract, instrument or chattel paper to enforce any remedy with respect thereto (provided that the foregoing exclusion shall not apply if (i) such prohibition has been waived or such person has otherwise consented to the creation
hereunder of a security interest in such contract, instrument or chattel paper or (ii) such prohibition would be rendered ineffective pursuant to Sections 9-407(a) or 9-408(a) of the Code, as applicable and as then in effect in any relevant
jurisdiction, or any other applicable law (including the federal bankruptcy code) or principles of equity; provided further that immediately upon the ineffectiveness, lapse or termination of any such provision, the Collateral shall include, and
Borrower shall be deemed to have granted a security interest in, all its rights, title and interest in 

 
and to such contract, instrument or chattel paper as if such provision had never been in effect; and provided further that the foregoing exclusion shall in no way be construed so as to limit,
impair or otherwise affect Bank’s unconditional continuing security interest in and to all rights, title and interests of Borrower in or to any payment obligations or other rights to receive monies due or to become due under any such contract,
instrument or chattel paper and in any such monies and other proceeds of such contract, instrument or chattel paper). 
 (h) any Intellectual Property. 
 (i) any license agreements,
franchise agreements, joint venture agreements, joint ventures, and research and/or development agreements; provided, however, the Collateral shall include all Accounts arising from any license agreements, franchise agreements, joint venture
agreements, joint ventures, and research and/or development agreements. 
 (j) Permitted Pledged Accounts.

  
  
 Negative-Negative Pledge 
 Pursuant to the terms of
a certain negative pledge arrangement with Bank, Borrower has agreed not to encumber any of its assets or property without Bank’s prior written consent, other than (i) Liens on assets acquired or held by Borrower or any Subsidiary incurred
for financing the acquisition of such assets, if the Lien is confined to the property acquired and improvements and the proceeds of such assets, or (ii) Liens existing on assets when acquired, if the Lien is confined to the
property acquired and improvements and the proceeds of such assets, or (iii) for other Permitted Liens allowed under this Agreement. In addition, Borrower has agreed not to enter into any agreement prohibiting a grant of a security interest in
its property to Bank without Bank’s prior written consent except as permitted under this Agreement. 

 EXHIBIT B – LOAN PAYMENT/ADVANCE REQUEST FORM 

DEADLINE FOR SAME DAY PROCESSING IS
NOON PACIFIC TIME 
  

			
	 Fax To:
	  	
Date:                         

  

									
	LOAN PAYMENT:	 	 	 	 	 	 
	 			 
	 	 		 		 	 Solazyme. Inc.

	 				 
	 From Account #
	 	  
	 		 	To Account #	 	  

	 	 	(Deposit Account #)	 		 		 	(Loan Account #)
	 				 
	 Principal $
	 	  
	 		 	 and/or Interest $
	 	  

	 				 
	 Authorized Signature:
	 	  
	 		 	 Phone Number:
	 	
 

	 Print Name/Title:
	 	  
	 		 		 	 
	 	 	 	 	 	 	 	 	 

  

									
	LOAN ADVANCE:	 	 	 	 	 	 
	 
	 Complete Outgoing Wire Request
section below if all or a portion of the funds from this loan advance are for an outgoing wire.

	 				 
	 From Account #
	 	  
	 		 	 To Account #
	 	  

	 	 	(Loan Account #)	 		 		 	(Deposit Account #)
	 				 
	 Amount of Advance $
	 	  
	 		 		 	 
	 
	All Borrower’s representations and warranties in the Loan
and Security Agreement are true, correct and complete in all material respects on the date of the advance; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or
modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date:
	 				 
	 Authorized Signature:
	 	  
	 		 	 Phone Number:
	 	  

	 Print Name/Title:
	 	  
	 		 		 	 
	 	 	 	 	 	 	 	 	 

  

											
	OUTGOING WIRE
REQUEST:	 	 
	 Complete only if all or a portion of funds from the loan advance above is to be
wired.
	 	 
	Deadline for same day processing is noon, Pacific Time	 	 
	 					 
	Beneficiary Name:	 	  
	 		 	        Amount of Wire: $	 	  
	 	 
	Beneficiary Bank:	 	  
	 		 	        Account Number:	 	  
	 	 
	City and State:	 	  
	 		 		 		 	 
	 					 
	Beneficiary Bank Transit (ABA) #:	 	  
	 		 	Beneficiary Bank Code (Swift, Sort, Chip, etc.):	 	  
	 	 
	 	 		 		 	(For International Wire Only)	 		 	 
	 					 
	Intermediary Bank:	 	  
	 		 	Transit (ABA) #:	 	  
	 	 
	 		 
	For Further Credit to:	 	  
	 	 
	 		 
	Special Instruction:	 	  
	 	 
	 	 
	 By signing below, I (we) acknowledge and agree that my (our) funds transfer request shall
be processed in accordance with and subject to the terms and conditions set forth in the agreements(s) covering funds transfer service(s), which agreements(s) were previously received and executed by me (us).
	 	 
	 					 
	Authorized Signature:	 	  
	 		 	2nd Signature (if required):	 	  
	 	 
	Print Name/Title:	 	  
	 		 	Print Name/Title:	 	  
	 	 
	Telephone #:	 	  
	 	 	 	Telephone #:	 	  
	 	 

 EXHIBIT C 

BORROWING RESOLUTIONS 

 

 

 CORPORATE BORROWING CERTIFICATE 

 

									
	BORROWER:	 	     Solazyme, Inc.
	 		 	DATE:	 	  

	BANK:	 	Silicon Valley Bank	 		 		 	

 I hereby certify as follows, as of the date set forth above: 

1. I am the Secretary, Assistant Secretary or other officer of the Borrower. My title is as set forth below. 

2. Borrower’s exact legal name is set forth above. Borrower is a corporation existing under the laws of the State of
Delaware. 
 3. Attached hereto are true, correct and complete copies of Borrower’s Articles/Certificate of
Incorporation (including amendments), as filed with the Secretary of State of the state in which Borrower is incorporated as set forth in paragraph 2 above. Such Articles/Certificate of Incorporation have not been amended, annulled, rescinded,
revoked or supplemented, and remain in full force and effect as of the date hereof. 
 4. The attached resolutions were duly and validly adopted
by Borrower’s Board of Directors at a duly held meeting of such directors (or pursuant to a unanimous written consent or other authorized corporate action). Such resolutions are in full force and effect as of the date hereof and have not been
in any way modified, repealed, rescinded, amended or revoked, and Bank may rely on them until Bank receives written notice of revocation from Borrower. In addition, these resolutions were approved by at least two directors from Borrower’s Board
of Directors that were elected by holders of Borrower’s preferred stock, as set forth in Borrower’s Amended and Restated Certificate of Incorporation. 
 5. The following officers or employees of Borrower, whose names, titles and signatures are below, may act on behalf of Borrower: 

 

							
	 Name
	  	 Title
	  	 Signature
	  	 Authorized to
Add or Remove
Signatories

				
	  
	  	  
	  	  
	  	 ̈
	  
	  	  
	  	  
	  	 ̈
	  
	  	  
	  	  
	  	 ̈
	  
	  	  
	  	  
	  	 ̈

 6. The persons listed above are Borrower’s officers or employees with their titles and
signatures shown next to their names. 
  

			
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

*** If the Secretary, Assistant Secretary or other certifying officer executing above is designated by the
resolutions set forth in paragraph 4 as one of the authorized signing officers, this Certificate must also be signed by a second authorized officer or director of Borrower. 

 

	
	 I, the
                                        
of Borrower, hereby certify as to paragraphs 1 through 5 above, as of the date set forth above.

	 [print title]

  

			
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 EXHIBIT D 

COMPLIANCE CERTIFICATE 
  

									
	 TO:
	 	 SILICON VALLEY BANK
	 		 		 	Date:
                        
	 FROM:
	 	 SOLAZYME, INC.
	 		 		 	

 The undersigned authorized officer of SOLAZYME, INC. (“Borrower”)
certifies that under the terms and conditions of the Loan and Security Agreement between Borrower and Bank (the “Agreement”): 
 (1) Borrower is in complete compliance for the period ending                      with all
required covenants except as noted below; and (2) there are no Events of Default. 
 Attached are the
required documents supporting the certification. The undersigned certifies that these are prepared in accordance with GAAP consistently applied from one period to the next except as explained in an accompanying letter or footnotes. The undersigned
acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any of the terms of the Agreement, and that compliance is determined not just at the date this certificate is delivered.
Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Agreement. 
 Please indicate compliance
status by circling Yes/No under “Complies” column. 
  

					
	 Reporting Covenant
	  	 Required
	  	 Complies

			
	Monthly financial statements with Compliance Certificate	  	 Monthly within 30 days
	  	Yes     No
	 Annual financial statement (CPA Audited) + CC
	  	 FYE within 180 days
	  	Yes     No
	 Updated Perfection Certificate
	  	 FYE within 180 days
	  	Yes     No
	 10-Q, 10-K and 8-K
	  	 Within 5 days after filing with SEC
	  	Yes     No
	 Borrowing Base Reports (A/R & A/P Agings)
	  	 Monthly within 30 days
	  	Yes     No
	 Annual projections
	  	 FYE within 60 days
	  	Yes     No

  

											
	 Financial Covenant
	  	 Required
	 	  	 Actual
	 	  	 Complies

				
	 Maintain at all times:
	  				  				  	
	 Minimum unrestricted cash and unrestricted investments at Bank and Banks’ Affiliates
	  	$	25,000,000	  	  	$	            	  	  	Yes     No
	 Minimum unrestricted cash and unrestricted investments
	  	$	30,000,000	  	  	$	            	  	  	Yes     No

 The following financial covenant analysis and information set forth in Schedule 1 attached
hereto are true and accurate as of the date of this Certificate. 
 The following are the exceptions with
respect to the certification above: (If no exceptions exist, state “No exceptions to note.”) 
  

 
  

 
  

 
  

									
	 Solazyme, Inc.
	 		 	BANK USE ONLY
					
	 By:
	 	  
	 		 	 Received by:
	 	  

	 Name:
	 	  
	 		 		 	AUTHORIZED SIGNER
	 Title:
	 	  
	 		 	 Date:
	 	  

					
		 		 		 	 Verified:
	 	  

		 		 		 		 	AUTHORIZED SIGNER
					
		 		 		 	 Date:
	 	  

				
		 		 		 	
Compliance Status:            Yes        No

 Schedule 1 to Compliance Certificate 

Financial Covenants of Borrower 
 In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. 
 Dated:                      

 

	I.	 Minimum Cash (Section 6.7(a)) 

  

			
	 Required [at all times]:
	  	 $30,000,000 unrestricted cash and unrestricted investments, including $25,000,000 unrestricted cash and unrestricted investments at Bank and Bank’s
Affiliates

 Actual: 
  

							
	 A.
	  	 Minimum value of aggregate value of the unrestricted cash and unrestricted investments of Borrower during relevant time period
	  	$	            	  
			
	 B.
	  	 Minimum value of aggregate value of the unrestricted cash and unrestricted investments of Borrower at Bank and Bank’s Affiliates during relevant time
period
	  	$	            	  

 Is line A equal to or greater
than $30,000,000? 
  

			
	              No, not in compliance
	 	              Yes, in compliance

Is line B equal to or greater than $25,000,000? 
  

			
	              No, not in compliance
	 	              Yes, in compliance

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}]]