Document:

EX-10.39

 Exhibit 10.39 

STRICTLY CONFIDENTIAL 
 SECOND
AMENDMENT TO 
 AMENDED AND RESTATED SECURED PROMISSORY NOTE 

THIS SECOND AMENDMENT TO AMENDED AND RESTATED SECURED PROMISSORY NOTE (this “Amendment”) is dated as of May 21st, 2020, and entered into by (A)(i) Micromidas, Inc. (dba Origin Materials), a company organized and existing under the laws of the state of Delaware (“Origin “), whose principal
office is at 930 Riverside Parkway, Suite 10, West Sacramento, CA 95605, United States of America, (ii) Origin Materials Canada Holding Limited, a corporation incorporated under the laws of the Province of New Brunswick (“OMC
Holding”), whose principal office is at 44 Chipman Hill, Suite 1000, Saint John, New Brunswick, Canada E2L 2A9 and (iii) Origin Materials Canada Pioneer Limited, a corporation incorporated under the laws of the Province of New
Brunswick (“OMC Pioneer”), whose principal office is at 44 Chipman Hill, Suite 1000, Saint John, New Brunswick, Canada E2L 2A9 (individually and collectively, “Maker” and (B) Nestlé Waters
Management & Technology, “société par actions simplifieé” organized and existing under the laws of France, whose registered office is at 34-40 rue Guynemer
92130 Issy-les-Moulieaux, France (together with its successors and assigns, “Holder”). 
 WHEREAS, Maker and Holder entered
into that certain Amended and Restated Secured Promissory Note, dated as of May 23, 2019 (the “Note”), evidencing certain Advance Payments made by Holder to Maker in aggregate principal amount of $5,000,000.00 and all accrued
interest on the Advance Payments equal to $105,055.06 and setting forth the security and terms of repayment therefor; 
 WHEREAS, Maker and
Holder entered into that certain First Amendment to the Amended and Restated Secured Promissory Note, dated as of November 8, 2019 (the “First Amendment”); 

WHEREAS, Holder entered into that certain Subordination Agreement, dated as of November 8, 2019, by and among PM Operating, Ltd., as
collateral agent for (and on behalf of) the Senior Creditors (as defined therein), Holder, as holder of the Subordinated Nestle Obligations (as defined therein), and Danone Asia Pte Ltd. (“Danone”), as holder of the Subordinated
Danone Obligations (as defined therein), and acknowledged and agreed to by Origin and the other Grantors (as defined therein) party thereto (“Subordination Agreement”); 

WHEREAS, in connection with the Subordination Agreement, Maker and Holder entered into that certain First Amendment to Amended and Restated
Secured Promissory Note; 
 WHEREAS, Maker and Holder intend to amend certain terms of the Subordination Agreement, notably the definition
of “Second Priority Enforcement Date” (as defined therein); and 
 WHEREAS, an amendment of the Note is necessary to conform the
definition of “Due Date” (as defined therein) to the amended definition of “Second Priority Enforcement Date” in the Subordination Agreement. 

 NOW, THEREFORE in consideration of the mutual covenants and agreements contained herein, the
parties covenant and agree as follows: 
 ARTICLE 1 

DEFINED TERMS 
 1.1
Capitalized Terms. All capitalized terms which are used herein without being specifically defined herein shall have the meanings ascribed thereto in the Note, as amended by the First Amendment. 

ARTICLE 2 
 AMENDMENTS TO
NOTE 
 2.1 General Rule. Subject to the terms and conditions herein contained, the Note is hereby amended to the extent
necessary to give effect to the provisions of this agreement and to incorporate the provisions of this agreement into the Note. 
 2.2
Amendments. 
 (a) The definition of “Due Date” set forth in Section 2(a) of the Note, as amended
by the First Amendment, is hereby amended and restated in its entirety as follows: 
 “Due Date” means the fifth
anniversary of the Start Date; provided, that if the Discharge of Senior Obligations (as defined in the Subordination Agreement) has not occurred on or before June 29, 2021, the Due Date shall be June 30, 2021. 

ARTICLE 3 

REPRESENTATIONS AND WARRANTIES 

3.1 Representations and Warranties. To induce Holder to enter into this agreement, Maker hereby represents and warrants to
Holder that the representations and warranties of Maker which are contained in Section 10 of the Note, as amended hereby, are true and correct on the date hereof as if made on the date hereof or, to the extent any representation or
warranty is made or deemed made as of a specific date, as of such date. 
 ARTICLE 4 

CONDITIONS PRECEDENT 

4.1 Conditions Precedent. This agreement shall not become effective unless and until the date when the following conditions are
met or waived (the “Amendment Effective Date”): 
 (i) the parties hereto shall have executed and delivered this agreement;

 (ii) the amended Subordination Agreement shall have become effective in accordance with its terms, as certified by a duly authorized
officer of Origin; and 
 (iii) Maker shall have delivered to Holder any other documentation or certificates Holder may reasonably request.

  
 2 

 ARTICLE 5 

MISCELLANEOUS 
 5.1
Future References to the Note. On and after the date of this agreement, each reference in the Note to “this Note”, “hereunder”, “hereof’, or words of like import referring to the Note, and each reference in any
related document to the “Note”, “thereunder”, “thereof’, or words of like import referring to the Note, shall mean and be a reference to the Note as amended hereby. The Note, as amended hereby, is and shall continue to
be in full force and effect and is hereby in all respects ratified and confirmed. 
 5.2 Governing Law; Severability. This
Amendment shall be governed by and construed in accordance with the internal laws of the State of New York. The invalidity, illegality or unenforceability of any provision of this Amendment shall not affect or impair the validity, legality or
enforceability of the remainder of this Agreement, and to this end, the provisions of this Agreement are declared to be severable. 

5.3 Inurement. This agreement shall inure to the benefit of and shall be binding upon Maker and Holder and their respective
successors and permitted assigns. 
 5.4 Conflict. If any provision of this agreement is inconsistent or conflicts with any
provision of the Note, the relevant provision of this agreement shall prevail and be paramount. 
 5.5 Further Assurances.
Maker shall do, execute and deliver or shall cause to be done, executed and delivered all such further acts, documents and things as Holder may reasonably request for the purpose of giving effect to this agreement and to each and every provision
hereof. 
 5.6 Counterparts. This agreement may be executed in one or more counterparts, each of which shall be deemed to be an
original and all of which taken together shall be deemed to constitute one and the same instrument. 
 [The remainder of this page is
intentionally left blank.] 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have executed and delivered this agreement on the
date first above written. 
  

			
	MAKER:
	
	Micromidas, Inc. (dba Origin Materials)
		
	By:	 	 /s/ John Bissell

	Name:	 	John Bissell
	Its:	 	President
	
	 Origin Materials Canada Holding

Limited

		
	By:	 	 /s/ John Bissell

	Name:	 	John Bissell
	Its:	 	President
	
	Origin Materials Canada Pioneer Limited
		
	By:	 	 /s/ John Bissell

	Name:	 	John Bissell
	Its:	 	President
	
	HOLDER:
	
	 Nestlé Waters Management &

Technology

		
	By:	 	 /s/ Massimo Casella

	Name:	 	Massimo Casella
	Its:	 	Head of R&D

  

  
 Origin – Second
Amendment to First Amended and Restated Secured Promissory NoteEX-10.40

 Exhibit 10.40 

STRICTLY CONFIDENTIAL 
 THIRD
AMENDMENT TO 
 AMENDED AND RESTATED SECURED PROMISSORY NOTE 

THIS THIRD AMENDMENT TO AMENDED AND RESTATED SECURED PROMISSORY NOTE (this “Amendment”) is dated as of January 27th, 2021, and entered into by (A)(i) Micromidas, Inc. (dba Origin Materials), a company organized and existing under the laws of the state of Delaware (“Origin”), whose principal
office is at 930 Riverside Parkway, Suite 10, West Sacramento, CA 95605, United States of America, (ii) Origin Materials Canada Holding Limited, a corporation incorporated under the laws of the Province of New Brunswick (“OMC
Holding”), whose principal office is at 44 Chipman Hill, Suite 1000, Saint John, New Brunswick, Canada E2L 2A9 and (iii) Origin Materials Canada Pioneer Limited, a corporation incorporated under the laws of the Province of New
Brunswick (“OMC Pioneer”), whose principal office is at 44 Chipman Hill, Suite 1000, Saint John, New Brunswick, Canada E2L 2A9 (individually and collectively, “Maker”) and (B) Nestlé Waters
Management & Technology, “société par actions simplifieé” organized and existing under the laws of France, whose registered office is at 34-40 rue Guynemer 92130 Issy-les-Moulineaux, France (together with its successors and assigns, “Holder”). 

WHEREAS, Maker and Holder entered into that certain Amended and Restated Secured Promissory Note, dated as of May 23, 2019 (the
“Original Note”), evidencing certain Advance Payments made by Holder to Maker in aggregate principal amount of $5,000,000.00 and all accrued interest on the Advance Payments equal to $105,055.06 and setting forth the security and
terms of repayment therefor; 
 WHEREAS, Maker and Holder entered into that certain First Amendment to the Amended and Restated
Secured Promissory Note, dated as of November 8, 2019 (the “First Amendment to Note”); 
 WHEREAS, Maker and
Holder entered into that certain Second Amendment to the Amended and Restated Secured Promissory Note, dated as of May 21, 2020 (the “Second Amendment to Note” and the Original Note, as amended by the First Amendment to Note
and Second Amendment to Note, the “Note”); 
 WHEREAS, Holder entered into that certain Subordination Agreement, dated as
of November 8, 2019, by and among PM Operating, Ltd., as collateral agent for (and on behalf of) the Senior Creditors (as defined therein), Holder, as holder of the Subordinated Nestle Obligations (as defined therein), and Danone Asia Pte Ltd.
(“Danone”), as holder of the Subordinated Danone Obligations (as defined therein), and acknowledged and agreed to by Origin and the other Grantors (as defined therein) party thereto (the “Subordination Agreement”);

 WHEREAS, Holder entered into that certain First Amendment to Subordination Agreement, dated as of May 21, 2020 (the “First
Amendment to Subordination Agreement”); 
 WHEREAS, in connection with the Subordination Agreement, Maker and Holder entered into
that certain First Amendment to Note, and in connection with the First Amendment to Subordination Agreement, Maker and Holder entered into that Second Amendment to Note; 

 WHEREAS, Maker and Holder intend to amend certain terms of the Subordination Agreement,
notably the definition of “Second Priority Enforcement Date” (as defined therein); and 
 WHEREAS, an amendment of the Note is
necessary to conform the definition of “Due Date” (as defined therein) to the amended definition of “Second Priority Enforcement Date” in the Subordination Agreement. 

NOW, THEREFORE in consideration of the mutual covenants and agreements contained herein, the parties covenant and agree as follows: 

ARTICLE 1 
 DEFINED TERMS

 1.1 Capitalized Terms. All capitalized terms which are used herein without being specifically defined herein shall have
the meanings ascribed thereto in the Note, as amended by the First Amendment. 
 ARTICLE 2 

AMENDMENTS TO NOTE 

2.1 General Rule. Subject to the terms and conditions herein contained, the Note is hereby amended to the extent necessary to
give effect to the provisions of this agreement and to incorporate the provisions of this agreement into the Note. 
 2.2 Amendments.

 (a) The definition of “Due Date” set forth in Section 2(a) of the Note is hereby amended and
restated in its entirety as follows: 
 “Due Date” means the fifth anniversary of the Start Date; provided, that if
the Discharge of Senior Obligations (as defined in the Subordination Agreement) has not occurred on or before December 30, 2021, the Due Date shall be December 31, 2021. 

ARTICLE 3 

REPRESENTATIONS AND WARRANTIES 

3.1 Representations and Warranties. To induce Holder to enter into this agreement, Maker hereby represents and warrants to Holder
that the representations and warranties of Maker which are contained in Section 10 of the Note, as amended hereby, are true and correct on the date hereof as if made on the date hereof or, to the extent any representation or warranty is made or
deemed made as of a specific date, as of such date. 

  
 2 

 ARTICLE 4 

CONDITIONS PRECEDENT 

4.1 Conditions Precedent. This agreement shall not become effective unless and until the date when the following conditions are
met or waived (the “Amendment Effective Date”): 
 (i) the parties hereto shall have executed and delivered this agreement;

 (ii) the amended Subordination Agreement shall have become effective in accordance with its terms, as certified by a duly authorized
officer of Origin; and 
 (iii) Maker shall have delivered to Holder any other documentation or certificates Holder may reasonably request.

 ARTICLE 5 

MISCELLANEOUS 
 5.1
Future References to the Note. On and after the date of this agreement, each reference in the Note to “this Note”, “hereunder”, “hereof’, or words of like import referring to the Note, and each reference in any
related document to the “Note”, “thereunder”, “thereof’, or words of like import referring to the Note, shall mean and be a reference to the Note as amended hereby. The Note, as amended hereby, is and shall continue to
be in full force and effect and is hereby in all respects ratified and confirmed. 
 5.2 Governing Law; Severability. This
Amendment shall be governed by and construed in accordance with the internal laws of the State of New York. The invalidity, illegality or unenforceability of any provision of this Amendment shall not affect or impair the validity, legality or
enforceability of the remainder of this Agreement, and to this end, the provisions of this Agreement are declared to be severable. 

5.3 Inurement. This agreement shall inure to the benefit of and shall be binding upon Maker and Holder and their respective
successors and permitted assigns. 
 5.4 Conflict. If any provision of this agreement is inconsistent or conflicts with any
provision of the Note, the relevant provision of this agreement shall prevail and be paramount. 
 5.5 Further Assurances.
Maker shall do, execute and deliver or shall cause to be done, executed and delivered all such further acts, documents and things as Holder may reasonably request for the purpose of giving effect to this agreement and to each and every provision
hereof. 
 5.6 Counterparts. This agreement may be executed in one or more counterparts, each of which shall be deemed to be an
original and all of which taken together shall be deemed to constitute one and the same instrument. 
 [The remainder of this page is
intentionally left blank.] 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have executed and delivered this agreement on the
date first above written. 
  

			
	MAKER:
	
	Micromidas, Inc. (dba Origin Materials)
		
	By:	 	 /s/ John Bissell

	Name:	 	John Bissell
	Its:	 	President
	
	Origin Materials Canada Holding Limited
		
	By:	 	 /s/ John Bissell

	Name:	 	John Bissell
	Its:	 	President
	
	Origin Materials Canada Pioneer Limited
		
	By:	 	 /s/ John Bissell

	Name:	 	John Bissell
	Its:	 	President
	
	HOLDER:
	
	Nestlé Waters Management & Technology
		
	By:	 	 /s/ Muriel Lienau

	Name:	 	Muriel Lienau
	Its:	 	President NW SAS

 Origin – Third Amendment to First Amended and Restated Secured Promissory Note

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