Document:

Warrant to purchase shares of common stock issued to Laurent Bernier

 Exhibit 10.29 
 THIS WARRANT AND THE SECURITIES ISSUED UPON ITS 
 EXERCISE ARE SUBJECT TO
THE RESTRICTIONS ON  
         TRANSFER SET FORTH IN SECTION 5 OF THIS
WARRANT        
  

			
	Warrant No. W1-2011-6	  	 Number of shares of Common Stock: 13

(subject to adjustment)

		
	Date of Issuance: April 15, 2011	  	
		
	 Original Issue Date (as defined in subsection
 2(a)(I)(B)): April 15, 2011
	  	

 BIOAMBER INC. 
 Shares of Common Stock Purchase Warrant 
 (Void after April, 15, 2021)

 BIOAMBER INC., a Delaware corporation (the “Company”), for value received, hereby certifies that Laurent Bernier,
or its registered assigns (the “Registered Holder”), is entitled, subject to the terms and conditions set forth below, to purchase from the Company, at any time or from time to time on or after the date of issuance and on or before 5:00
p.m. (New York City time) on April 15, 2021, 13 shares of Common Stock (subject to adjustment as set forth herein), of the Company (the “Securities”), at a purchase price of US$369.14 per Security (subject to adjustment as set forth
herein). The Securities purchasable upon exercise of this Warrant, and the purchase price per Security, each as adjusted from time to time pursuant to the provisions of this Warrant, are hereinafter referred to as the “Warrant Securities”
and the “Purchase Price,” respectively. 
 1. Exercise. 

(a) Exercise and Payment of Purchase Price. The Registered Holder may, at its option, elect to exercise this Warrant, in whole or
in part and at any time or from time to time, by surrendering this Warrant, with the purchase form appended hereto as Exhibit I duly executed by or on behalf of the Registered Holder, at the principal office of the Company, or at such
other office or agency as the Company may designate, accompanied by payment in full, in lawful money of the United States, of the Purchase Price payable in respect of the number of Warrant Securities purchased upon such exercise. 

(b) Exercise Date. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business
on the day on which this Warrant shall have been surrendered to the Company as provided in subsection 1(a) above (the “Exercise Date”). At such time, the person or persons in whose name or names any certificates for Warrant Securities
shall be issuable upon such exercise as provided in subsection 1(c) below shall be deemed to have become the holder or holders of record of the Warrant Securities represented by such certificates. 

 (c) Issuance of Certificates. As soon as practicable after the exercise of this
Warrant in whole or in part, and in any event within 10 days thereafter, the Company, at its expense, will cause to be issued in the name of, and delivered to, the Registered Holder, or as the Registered Holder (upon payment by the Registered Holder
of any applicable transfer taxes) may direct: 
 (i) a certificate or certificates for the number of full Warrant Securities to
which the Registered Holder shall be entitled upon such exercise plus, in lieu of any fractional share to which the Registered Holder would otherwise be entitled, cash in an amount determined pursuant to Section 3 hereof; and 

(ii) in case such exercise is in part only, a new warrant or warrants (dated the date hereof) of like tenor, calling in the aggregate on
the face or faces thereof for the number of Warrant Securities equal (without giving effect to any adjustment therein) to the number of such shares called for on the face of this Warrant minus the number of Warrant Securities for which this Warrant
was so exercised. 
 2. Adjustments. 
 (a) Adjustments to Purchase Price for Diluting Issues. 
 (i) Special
Definitions. For purposes of this Section 2, the following definitions shall apply: 
 (A) “Option”
shall mean rights, options or warrants to subscribe for, purchase or otherwise acquire Securities or Convertible Securities. 

(B) “Original Issue Date” shall mean the date on which this Warrant was first issued (or, if this Warrant was issued
upon partial exercise of, or in replacement of, another warrant of like tenor, then the date on which such original warrant was first issued). 
 (C) “Convertible Securities” shall mean any evidences of indebtedness, shares or other securities directly or indirectly convertible into or exchangeable for Securities, but excluding
Options. 
 (D) “Additional Securities” shall mean all Securities issued (or, pursuant to
subsection 2(a)(iii) below, deemed to be issued) by the Company after the Original Issue Date, other than: 
  

	 	(I)	Securities issued or issuable upon conversion or exchange of any Convertible Securities or exercise of any Options outstanding on the Original Issue Date;

  
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	 	(II)	Securities issued or issuable by reason of a dividend, stock split, split-up or other distribution on Warrant Securities that is covered by subsection 2(b) or 2(c)
below; or 

  

	 	(III)	Securities (or Options with respect thereto) issued or issuable to employees or directors of, or consultants to, the Company or any of its subsidiaries pursuant to a
compensatory plan, agreement or arrangement approved by the Board. 

 (ii) No Adjustment of Purchase
Price. No adjustment to the Purchase Price shall be made as the result of the issuance of Additional Securities if the consideration per share (determined pursuant to subsection 2(a)(v)) for such Additional Securities issued or deemed to be
issued by the Company is equal to or greater than the Purchase Price in effect immediately prior to the issuance or deemed issuance of such Warrant Securities. 
 (iii) Deemed Issue of Additional Securities. 
 (A) If the Company at any
time or from time to time after the Original Issue Date shall issue any Options or Convertible Securities (excluding Options or Convertible Securities which, upon exercise, conversion or exchange thereof, would entitle the holder thereof to receive
Securities which are specifically excepted from the definition of Additional Securities by subsection 2(a)(i)(D) above) or shall fix a record date for the determination of holders of any class of securities entitled to receive any such Options or
Convertible Securities, then the maximum number of Securities (as set forth in the instrument relating thereto without regard to any provision contained therein for a subsequent adjustment of such number) issuable upon the exercise of such Options
or, in the case of Convertible Securities and Options therefor, the conversion or exchange of such Convertible Securities, shall be deemed to be Additional Securities issued as of the time of such issue or, in case such a record date shall have been
fixed, as of the close of business on such record date. 
 (B) If the terms of any Option or Convertible Security, the issuance
of which resulted in an adjustment to the Purchase Price pursuant to the terms of subsection 2(a)(iv) below, are revised (either automatically pursuant the provisions contained therein or as a result of an amendment to such terms) to provide for
either (1) any increase in the number of Securities issuable upon the exercise, conversion or exchange of any such Option or Convertible Security or (2) any decrease in the consideration payable to the Company upon such exercise,
conversion or exchange, then, effective upon such increase or decrease becoming effective, the Purchase Price computed upon the original issue of such Option or Convertible Security (or upon the occurrence of a record date with respect thereto)
shall be readjusted to such Purchase Price as would have obtained had such revised terms been in effect upon the original date of issuance of such Option or Convertible Security. Notwithstanding the foregoing, no adjustment pursuant to this
clause (B) shall have the effect of increasing the Purchase Price to an amount which exceeds the lower of (i) the Purchase Price on the original adjustment date, or (ii) the Purchase Price that would have resulted from any issuances
of Additional Securities between the original adjustment date and such readjustment date. 

  
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 (C) If the terms of any Option or Convertible Security (excluding Options or Convertible
Securities which, upon exercise, conversion or exchange thereof, would entitle the holder thereof to receive Securities which are specifically excepted from the definition of Additional Securities by subsection 2(a)(i)(D) above), the issuance of
which did not result in an adjustment to the Purchase Price pursuant to the terms of subsection 2(a)(iv) below (either because the consideration per share (determined pursuant to subsection 2(a)(v) hereof) of the Additional Securities subject
thereto was equal to or greater than the Purchase Price then in effect, or because such Option or Convertible Security was issued before the Original Issue Date), are revised after the Original Issue Date (either automatically pursuant the
provisions contained therein or as a result of an amendment to such terms) to provide for either (1) any increase in the number of Securities issuable upon the exercise, conversion or exchange of any such Option or Convertible Security or
(2) any decrease in the consideration payable to the Company upon such exercise, conversion or exchange, then such Option or Convertible Security, as so amended, and the Warrant Securities subject thereto (determined in the manner provided in
subsection 2(a)(iii)(A) above) shall be deemed to have been issued effective upon such increase or decrease becoming effective. 
 (D) No adjustment in the Purchase Price shall be made upon the issue of Securities or Convertible Securities upon the exercise of Options or the issue of Securities upon the conversion or exchange of
Convertible Securities. 
 (iv) Adjustment of Purchase Price Upon Issuance of Additional Securities. In the event the
Company shall at any time after the Original Issue Date issue Additional Securities (including Additional Securities deemed to be issued pursuant to subsection 2(a)(iii)), without consideration or for a consideration per share less than the
Purchase Price in effect immediately prior to such issue, then the Purchase Price shall be reduced, concurrently with such issue, to a price (calculated to the nearest cent) determined by multiplying such Purchase Price by a fraction, (A) the
numerator of which shall be (1) the number of Securities outstanding immediately prior to such issue plus (2) the number of Securities which the aggregate consideration received or to be received by the Company for the total number of
Additional Securities so issued would purchase at such Purchase Price; and (B) the denominator of which shall be the number of Securities outstanding immediately prior to such issue plus the number of such Warrant Securities so issued;
provided that, (i) for the purpose of this subsection 2(a)(iv), all Securities issuable upon conversion or exchange of Convertible Securities outstanding immediately prior to such issue shall be deemed to be outstanding, and
(ii) the number of Securities deemed issuable upon conversion or exchange of such outstanding Convertible Securities shall be determined without giving effect to any adjustments to the conversion or exchange price or conversion or exchange rate
of such Convertible Securities resulting from the issuance of Additional Securities that is the subject of this calculation. 

(v) Determination of Consideration. For purposes of this subsection 2(a), the consideration received by the Company for the
issue of any Additional Securities shall be computed as follows: 
 (A) Cash and Property: Such consideration shall:

  

	 	(I)	insofar as it consists of cash, be computed at the aggregate of cash received by the Company, excluding amounts paid or payable for accrued interest;

  
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	 	(II)	insofar as it consists of property other than cash, be computed at the fair market value thereof at the time of such issue, as determined in good faith by the Board;
and 

  

	 	(III)	in the event Additional Securities are issued together with other shares or securities or other assets of the Company for consideration which covers both, be the
proportion of such consideration so received, computed as provided in clauses (I) and (II) above, as determined in good faith by the Board. 

 (B) Options and Convertible Securities. The consideration per share received by the Company for Additional Securities deemed to have been issued pursuant to subsection 2(a)(iii), relating to
Options and Convertible Securities, shall be determined by dividing 
  

	 	(I)	the total amount, if any, received or receivable by the Company as consideration for the issue of such Options or Convertible Securities, plus the minimum aggregate
amount of additional consideration (as set forth in the instruments relating thereto, without regard to any provision contained therein for a subsequent adjustment of such consideration) payable to the Company upon the exercise of such Options or
the conversion or exchange of such Convertible Securities, or in the case of Options for Convertible Securities, the exercise of such Options for Convertible Securities and the conversion or exchange of such Convertible Securities, by

  

	 	(II)	the maximum number of Securities (as set forth in the instruments relating thereto, without regard to any provision contained therein for a subsequent adjustment of
such number) issuable upon the exercise of such Options or the conversion or exchange of such Convertible Securities. 

 (vi) Multiple Closing Dates. In the event the Company shall issue on more than one date Additional Securities which are comprised of shares of the same series or

  
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class of capital stock, and such issuance dates occur within a period of no more than 120 days, then, upon the final such issuance, the Purchase Price shall be readjusted to give effect to all
such issuances as if they occurred on the date of the final such issuance (and without giving effect to any adjustments as a result of such prior issuances within such period). 

(b) Adjustment for Stock Splits and Combinations. If the Company shall at any time or from time to time after the Original Issue
Date effect a subdivision of the outstanding Securities, the Purchase Price then in effect immediately before that subdivision shall be proportionately decreased. If the Company shall at any time or from time to time after the Original Issue Date
combine the outstanding Securities, the Purchase Price then in effect immediately before the combination shall be proportionately increased. Any adjustment under this paragraph shall become effective at the close of business on the date the
subdivision or combination becomes effective. 
 (c) Adjustment for Certain Dividends and Distributions. In the event the
Company at any time, or from time to time after the Original Issue Date shall make or issue, or fix a record date for the determination of holders of Securities entitled to receive, a dividend or other distribution payable in Additional Securities,
then and in each such event the Purchase Price then in effect immediately before such event shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of business on such record
date, by multiplying the Purchase Price then in effect by a fraction: 
 (A) the numerator of which shall be the total number
of Securities issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and 
 (B) the denominator of which shall be the total number of Securities issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of
Securities issuable in payment of such dividend or distribution; 
 provided, however, that if such record date shall have been
fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Purchase Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Purchase Price
shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions. 
 (d)
Adjustment in Number of Warrant Securities. When any adjustment is required to be made in the Purchase Price pursuant to subsections 2(a), 2(b) or 2(c), the number of Warrant Securities purchasable upon the exercise of this Warrant shall
be changed to the number determined by dividing (i) an amount equal to the number of shares issuable upon the exercise of this Warrant immediately prior to such adjustment, multiplied by the Purchase Price in effect immediately prior to such
adjustment, by (ii) the Purchase Price in effect immediately after such adjustment. 
 (e) Adjustments for Other
Dividends and Distributions. In the event the Company at any time or from time to time after the Original Issue Date shall make or issue, or 

  
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fix a record date for the determination of holders of Securities entitled to receive, a dividend or other distribution payable in securities of the Company (other than Securities) or in cash or
other property (other than regular cash dividends paid out of earnings or earned surplus, determined in accordance with generally accepted accounting principles), then and in each such event provision shall be made so that the Registered Holder
shall receive upon exercise hereof, in addition to the number of Securities issuable hereunder, the kind and amount of securities of the Company, cash or other property which the Registered Holder would have been entitled to receive had this Warrant
been exercised on the date of such event and had the Registered Holder thereafter, during the period from the date of such event to and including the Exercise Date, retained any such securities receivable during such period, giving application to
all adjustments called for during such period under this Section 2 with respect to the rights of the Registered Holder. 

(f) Adjustment for Reorganization. If there shall occur any reorganization, recapitalization, reclassification, consolidation or
merger involving the Company in which the Securities are converted into or exchanged for securities, cash or other property (other than a transaction covered by subsections 2(b), 2(c) or 2(e)) (collectively, a “Reorganization”), then,
following such Reorganization, the Registered Holder shall receive upon exercise hereof the kind and amount of securities, cash or other property which the Registered Holder would have been entitled to receive pursuant to such Reorganization if such
exercise had taken place immediately prior to such Reorganization. Notwithstanding the foregoing sentence, if (x) there shall occur any Reorganization in which the Securities are converted into or exchanged for anything other than solely equity
securities, and (y) the securities of the acquiring or surviving company is publicly traded, then, as part of such Reorganization, (i) the Registered Holder shall have the right thereafter to receive upon the exercise hereof such number of
securities of the acquiring or surviving company as is determined by multiplying (A) the number of shares of securities subject to this Warrant immediately prior to such Reorganization by (B) a fraction, the numerator of which is the fair
market value per share of securities as of the effective date of such Reorganization, as determined in good faith by the Board, and the denominator of which is the fair market value per share of securities of the acquiring or surviving company as of
the effective date of such transaction, as determined in good faith by the Board, and (ii) the exercise price per share of securities of the acquiring or surviving company shall be the Purchase Price divided by the fraction referred to in
clause (B) above. In any such case, appropriate adjustment (as determined in good faith by the Board) shall be made in the application of the provisions set forth herein with respect to the rights and interests thereafter of the Registered
Holder, to the end that the provisions set forth in this Section 2 (including provisions with respect to changes in and other adjustments of the Purchase Price) shall thereafter be applicable, as nearly as reasonably may be, in relation to any
securities, cash or other property thereafter deliverable upon the exercise of this Warrant. 
 (g) Certificate as to
Adjustments. Upon the occurrence of each adjustment or readjustment of the Purchase Price pursuant to this Section 2, the Company at its expense shall, as promptly as reasonably practicable but in any event not later than 10 days
thereafter, compute such adjustment or readjustment in accordance with the terms hereof and furnish to the Registered Holder a certificate setting forth such adjustment or readjustment (including the kind and amount of securities, cash or other
property for which this Warrant shall be exercisable and the Purchase Price) and showing in detail the facts upon which such adjustment or readjustment is based. The Company shall, as promptly as reasonably practicable after the written request at

  
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any time of the Registered Holder (but in any event not later than 10 days thereafter), furnish or cause to be furnished to the Registered Holder a certificate setting forth (i) the Purchase
Price then in effect and (ii) the number of shares of Securities and the amount, if any, of other securities, cash or property which then would be received upon the exercise of this Warrant. 

3. Fractional Shares. The Company shall not be required upon the exercise of this Warrant to issue any fractional shares, but
shall pay the value thereof to the Registered Holder in cash on the basis of the fair market value per share of Warrant Securities, as determined in good faith by the Board. 
 4. Investment Representations. The initial Registered Holder represents and warrants to the Company as follows: 
 (a) Investment. It is acquiring the Warrant, and (if and when it exercises this Warrant) it will acquire the Warrant Securities, for its own account for investment and not with a view to, or for
sale in connection with, any distribution thereof, nor with any present intention of distributing or selling the same; and the Registered Holder has no present or contemplated agreement, undertaking, arrangement, obligation, indebtedness or
commitment providing for the disposition thereof. 
 (b) Experience. The Registered Holder has made such inquiry
concerning the Company and its business and personnel as it has deemed appropriate; and the Registered Holder has sufficient knowledge and experience in finance and business that it is capable of evaluating the risks and merits of its investment in
the Company. 
 5. Transfers, etc. 
 (a) This Warrant and the Warrant Securities shall not be sold or transferred unless either (i) they first shall have been registered under the Securities Act of 1933, as amended (the
“Act”), or (ii) the Company first shall have been furnished with an opinion of legal counsel, reasonably satisfactory to the Company, to the effect that such sale or transfer is exempt from the registration requirements of the Act.
Notwithstanding the foregoing, no registration or opinion of counsel shall be required for (i) a transfer by a Registered Holder which is an entity to a wholly owned subsidiary of such entity, a transfer by a Registered Holder which is a
partnership to a partner of such partnership or a retired partner of such partnership or to the estate of any such partner or retired partner, or a transfer by a Registered Holder which is a limited liability company to a member of such limited
liability company or a retired member or to the estate of any such member or retired member, provided that the transferee in each case agrees in writing to be subject to the terms of this Section 5, or (ii) a transfer made in
accordance with Rule 144 under the Act. 
 (b) Each certificate representing Warrant Securities shall bear a legend
substantially in the following form: 
 “The securities represented by this certificate have not been registered under the
Securities Act of 1933, as amended, and may not be offered, sold or otherwise transferred, pledged or hypothecated unless and until such securities are 

  
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registered under such Act or an opinion of counsel satisfactory to the Company is obtained to the effect that such registration is not required.” 

The foregoing legend shall be removed from the certificates representing any Warrant Securities, at the request of the holder thereof, at
such time as they become eligible for resale pursuant to Rule 144 under the Act. 
 (c) The Company will maintain a
register containing the name and address of the Registered Holder of this Warrant. The Registered Holder may change its address as shown on the warrant register by written notice to the Company requesting such change. 

(d) Subject to the provisions of Section 5 hereof, this Warrant and all rights hereunder are transferable, in whole or in part, upon
surrender of this Warrant with a properly executed assignment (in the form of Exhibit II hereto) at the principal office of the Company (or, if another office or agency has been designated by the Company for such purpose, then at such
other office or agency). 
 6. No Impairment. The Company will not, by amendment of its charter or through any
reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in
good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the Registered Holder against impairment. 

7. Notices of Record Date, etc. In the event: 
 (a) the Company shall take a record of the holders of its Securities (or other stock or securities at the time deliverable upon the exercise of this Warrant) for the purpose of entitling or enabling them
to receive any dividend or other distribution, or to receive any right to subscribe for or purchase any shares of stock of any class or any other securities, or to receive any other right; or 

(b) of any capital reorganization of the Company, any reclassification of the Securities of the Company, any consolidation or merger of
the Company with or into another corporation (other than a consolidation or merger in which the Company is the surviving entity and its Securities are not converted into or exchanged for any other securities or property), or any transfer of all or
substantially all of the assets of the Company; or 
 (c) of the voluntary or involuntary dissolution, liquidation or winding-up
of the Company, 
 then, and in each such case, the Company will send or cause to be sent to the Registered Holder a notice specifying, as the
case may be, (i) the record date for such dividend, distribution or right, and the amount and character of such dividend, distribution or right, or (ii) the effective date on which such reorganization, reclassification, consolidation,
merger, transfer, dissolution, liquidation or winding-up is to take place, and the time, if any is to be fixed, as of which the holders of record of Securities (or such other stock or securities at the time deliverable upon the

  
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exercise of this Warrant) shall be entitled to exchange their shares of Securities (or such other stock or securities) for securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up. Such notice shall be sent at least 10 days prior to the record date or effective date for the event specified in such notice. 

8. Reservation of Stock. The Company will at all times reserve and keep available, solely for issuance and delivery upon the
exercise of this Warrant, such number of Securities and other securities, cash and/or property, as from time to time shall be issuable upon the exercise of this Warrant. 
 9. Exchange or Replacement of Warrants. 
 (a) Upon the surrender by the
Registered Holder, properly endorsed, to the Company at the principal office of the Company, the Company will, subject to the provisions of Section 5 hereof, issue and deliver to or upon the order of the Registered Holder, at the Company’s
expense, a new Warrant or Warrants of like tenor, in the name of the Registered Holder or as the Registered Holder (upon payment by the Registered Holder of any applicable transfer taxes) may direct, calling in the aggregate on the face or faces
thereof for the number of shares of Warrant Securities (or other securities, cash and/or property) then issuable upon exercise of this Warrant. 
 (b) Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and (in the case of loss, theft or destruction) upon delivery of an
indemnity agreement (with surety if reasonably required) in an amount reasonably satisfactory to the Company, or (in the case of mutilation) upon surrender and cancellation of this Warrant, the Company will issue, in lieu thereof, a new Warrant of
like tenor. 
 10. Notices. 
 (a) All notices and other communications from the Company to the Registered Holder in connection herewith shall be sent to the address last furnished to the Company in writing by the Registered Holder.
All notices and other communications from the Registered Holder to the Company in connection herewith shall be sent to the Company at its principal office set forth below. If the Company should at any time change the location of its principal office
to a place other than as set forth below, it shall give prompt written notice to the Registered Holder and thereafter all references in this Warrant to the location of its principal office at the particular time shall be as so specified in such
notice. 
 (b) All notices and other communications provided for herein which are sent from and delivered within the United
States of America shall be mailed by certified or registered mail, return receipt requested, postage prepaid, or sent via a reputable nationwide overnight courier service guaranteeing next business day delivery. All such notices and other
communications shall be deemed delivered (i) two business days after being sent by certified or registered mail, return receipt requested, postage prepaid, or (ii) one business day after being sent via a reputable nationwide overnight
courier service guaranteeing next business day delivery. 

  
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 (c) All notices and other communications provided for herein which are sent or delivered
outside of the United State of America shall be mailed by certified or registered mail, return receipt requested, postage prepaid, or sent via reputable international express courier service. All such notices and other communications shall be deemed
delivered upon delivery to the recipient. 
 11. No Rights as Stockholder. Until the exercise of this Warrant, the
Registered Holder shall not have or exercise any rights by virtue hereof as a stockholder of the Company. Notwithstanding the foregoing, in the event (i) the Company effects a split of the Securities by means of a stock dividend and the
Purchase Price of and the number of Warrant Securities are adjusted as of the date of the distribution of the dividend (rather than as of the record date for such dividend), and (ii) the Registered Holder exercises this Warrant between the
record date and the distribution date for such stock dividend, the Registered Holder shall be entitled to receive, on the distribution date, the stock dividend with respect to the shares of Securities acquired upon such exercise, notwithstanding the
fact that such shares were not outstanding as of the close of business on the record date for such stock dividend. 
 12.
Amendment or Waiver. Any term of this Warrant may be amended or waived only by an instrument in writing signed by the party against which enforcement of the change or waiver is sought. No waivers of any term, condition or provision of this
Warrant, in any one or more instances, shall be deemed to be, or construed as, a further or continuing waiver of any such term, condition or provision. 
 13. Section Headings. The section headings in this Warrant are for the convenience of the parties and in no way alter, modify, amend, limit or restrict the contractual obligations of the parties.

 14. Governing Law. This Warrant will be governed by and construed in accordance with the internal laws of the State of
Delaware (without reference to the conflicts of law provisions thereof). 
 15. Facsimile Signatures. This Warrant may be
executed and delivered by facsimile signature or as an attachment in “pdf” or similar format to an electronic mail message. 

  
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 EXECUTED as of the Date of Issuance indicated above. 

 

			
	BIOAMBER INC.
		
	By:	 	 /s/ Jean-François Huc

	Name:	 	Jean-François Huc
	Title:	 	President

  

[Warrant] 

 EXHIBIT I 
 PURCHASE FORM 
  

							
	 To:
	 	  
	  	Dated:	 	  

 The undersigned, pursuant to the provisions set forth in the attached Warrant (No. W1-2011-5),
hereby elects to purchase (check applicable box) 
          shares of
Common Stock of BIOAMBER INC. covered by such Warrant. 
 The undersigned herewith makes payment of the full purchase price
for such shares of Common Stock at the price per Security provided for in such Warrant. Such payment takes the form of (check applicable box or boxes)  
 $     in lawful money of the United States; and/or 
  ̈ 
  

			
	Signature:	 	  

		
	Address:	 	  

		
		 	  

  

 EXHIBIT II 
 ASSIGNMENT FORM 
 FOR VALUE RECEIVED,
                                 hereby sells, assigns and transfers all of the
rights of the undersigned under the attached Warrant (No.     ) with respect to the number of securities of BIOAMBER INC. covered thereby set forth below, unto: 

 

					
	 Name of Assignee
	  	 Address
	  	No. of Securities
		  		  	
		  		  	
		  		  	

  

									
	 Dated:
	 	  
	 		  	Signature:	  	  

				
	 Signature Guaranteed:
	 		  		  	

									
					
	By:	 	  
	 		  		  	

 The signature should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan
associations and credit unions with membership in an approved signature guarantee medallion program) pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934.Sublease Agreement ...and General Electric Capital Canada

 Exhibit 10.45 
 SUBLEASE AGREEMENT 
  

					
	BETWEEN:	 		  	 GENERAL ELECTRIC CAPITAL CANADA INC.

 

		 		  	 represented by: Katherine Lee, its President

 

		 		  	 (“Sub-Land lord”)

			
	AND:	 		  	 DNP GREEN TECHNOLOGY INC.
  

represented by: Jean-François Huc, its President, pursuant to the attached resolution attached hereto as Schedule “D”

 
 (“Sub-Tenant”)

 

		
	RE:	 	 Premises located at: 1250 René-Lévesque Boulevard, Montreal, Quebec

  (hereinafter referred to as the “Building”)

  
  

The undersigned, DNP GREEN TECHNOLOGY (hereinafter referred to as “Sub-Tenant”) hereby offers to sublease from GENERAL ELECTRIC CAPITAL CANADA
INC. (hereinafter referred to as “Sub-Landlord”), subject to the approval of TWELVE-FIFTY, COMPANY LIMITED (hereinafter referred to as the “Head Landlord”), certain space located in the Building bearing the civic number 1250
Rene-Levesque West, suite 4110, in the City of Montreal, province of Quebec (hereinafter referred to as the “Subleased Premises”), the whole subject to the following terms and condition as are hereinafter referred to as the “Sublease
Agreement”, which includes the head lease executed between the Sub-Landlord and the Head Landlord as well as the schedules initialled by the parties and annexed hereto as part of the said Sublease Agreement. 

 

	1.	SUBLEASED PREMISES 

 The
proposed Subleased Premises shall hove a total gross leasable area of approximately THREE THOUSAND, FOUR HUNDRED AND FIFTY-FOUR square feet (3,454 sq. ft.), including the Sub-Tenant’s proportionate shore of common areas and service areas, the
whole as shown in Schedule “A” annexed hereto. 
  

	2.	HEAD LEASE 

 The
Sub-Tenant acknowledges having read the agreement of Lease between Head Landlord and Sub-Landlord executed on March 13,2008 (hereinafter referred to as the “Head Lease”), copy of which is attached hereto as Schedule “B”.

  

	3.	TERM 

 The term shall be
for a period of THREE (3) years and TEN (10) months, commencing on August 1, 2009 and ending on May 31, 2013, (hereinafter referred as to the “Term”). 

 

	4.	USE OF THE SUBLEASED PREMISES 

 Subject to the Head Lease, the Subleased Premises shall be used as general offices for the operations of the Sub-Tenant and all its related companies and/or its managed companies and for no other
purposes. 

  

											
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	5.	ANNUAL NET NET RENT 

 For
the duration of the Term, the Sub-Tenant undertakes to pay directly to the Sub-Landlord as Annual Net Net Rent the sum of FIFTY THOUSAND AND EIGHTY-THREE DOLLARS IS 50,083.00 ), plus applicable taxes. Said sum is payable in equal consecutive monthly
installments of FOUR THOUSAND, ONE HUNDRED AND SEVENTY-THREE DOLLARS AND FIFTY-EIGHT CENTS ($ 4,173.58), in advance in lawful money of Canada, on the first day of each month, without demand, deduction or compensation, representing FOURTEEN DOLLARS
AND FIFTY CENTS ($14.50) net net per square foot per annum. 
  

	6.	ADDITIONAL RENT 

 In
Addition to the Annual Net Net Rent mentioned in Section A, the Sub-Tenant shall pay the Additional Rent, hereinafter defined. The Sub-Tenant acknowledges and agrees that it is intended that the Sublease Agreement be a completely net net lease to
the Sub-Landlord and, except as expressly set out herein or in the Head Lease, the Sub-Landlord shall not be responsible during the Term of the Sublease Agreement for any costs, charges, expenses and outlays or any nature whatsoever arising form or
relating to the Subleased Premises, or the use and occupancy thereof, or the contents thereof, or the business carried on therein, and the Sub-Tenant shall pay all charges, impositions, costs and expenses of every nature and kind relating to the
Subleased Premises, as expressly set out herein or in the Head Lease. 
 The Real Estate Taxes, Operating Expenses and utilities
described below are hereinafter referred to as the “Additional Rent”. 
  

	 	(a)	the Sub-Tenant shall pay to the Sub-Landlord oil municipal, school and local taxes, general and special, as well as other similar taxes, reclamations, levies and
assessments imposed upon the Building, including the business and water taxes allocable to the Subleased Premises hereinafter referred to as the “Real Estate Taxes”); 

 

	 	(b)	the Sub-Tenant shall pay to the Sub-Landlord alls costs and expenses incurred by the Sub-Landlord in connection with the operation, maintenance, repair and replacement,
management, administration, insurance, heating, air-conditioning, ventilation, electricity and daily cleaning of the Subleased Premises and the Building {hereinafter referred to as the “Operating Expenses”). 

For estimation purposes, Sub-Landlord estimates that the Additional Rent of the Building for 2009 will be approximately TWENTY-TWO DOLLARS
AND SEVENTY-TWO CENTS (522.721. The Additional Rent will be paid, along with the Annual Net Net Rent in advance in lawful money of Canada, on the first day of each month, without demand, deduction or compensation whatsoever. 

The Additional Rent will be subject to a yearly adjustment by the Head Landlord as expressly set out in the Head Lease. Applicable taxes
(i.e. GST & PST) have to be added to the Annual Net Net Rent and Additional Rent and are payable by the Sub-Tenant. 
  

	 	(c)	Utilities and other services 

  

	 	(i)	Electricity - The Sub-Tenant shall pay for the cost of electricity and other utilities consumed for its own needs within the Subleased Premises as expressly set out in
the Head Lease, which cost is included in the Operating Expenses; 

  

	 	(ii)	Heating and air-conditioning -The Subleased Premises shall be heated and air-conditioned by the Head Landlord as expressly set out in the Head Lease, which cost is
included in the Operating Expenses; 

  

											
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	 	(iii)	Cleaning - The Head Landlord shall provide daily cleaning service to the Subleased Premises as expressly set out in the Head Lease, which cost is included in the
Operating Expenses; 

  

	 	(iv)	Access to Building - Subject to the Head Lease, Sub-Tenant shall have access to the Building twenty-four (2A) hours a day, seven (7) days a week.

  

	7.	SIGNAGE 

 For the Term,
the Sub-Landlord hereby transfers to the Sub-Tenant, subject to the approval of the Head Landlord, its rights to install signage in accordance with the Head Lease. The Sub-Landlord shall pay for the costs involved in removing its company name in all
areas where Sub-Landlord’s corporate name is identified. However, installation, maintenance and removal of Sub-Tenant’s identification on the main entrance door of the Subleased Premises shall be the responsibility and be at the sole
expense of the Sub-Tenant. In addition, the Sub-Tenant shall abide by all relevant terms and conditions of the Head Lease. 
  

	8.	NOTICES 

  

	 	(i)	in the case of a notice to the Sub-Tenant: 

 DNP GREEN TECHNOLOGY INC. 
 1250 René-Lévesque W., suite 4110

 Montreal, Quebec H3B 4W8 
  

			
	Attention:	 	Jean-François Huc, President
	Telecopier:	 	514 844-5836

  

	 	(ii)	in the case of a notice to the Sub-Landlord: 

 GENERAL ELECTRIC CAPITAL CANADA INC. 
 c/o GE
CANADA REAL ESTATE EQUITY HOLDING COMPANY 
 8250 Decarie, suite 300 
 Montreal, Quebec H4P2PS 

 

			
	Attention:	 	Regional Director-Quebec
	Telecopier:	 	(514)734-0220

  

	 	(iii)	in the case of a notice to the Head Landlord: 

 TWELVE-FIFTY, COMPANY LIMITED 
 1250 René-Lévesque West, 4th
floor 
 Montreal, Quebec H3B 4W8 
  

			
	Attention:	 	Director, Real Estate Management
	Telecopier:	 	

  

	 	7.1	During any interruption of postal services or during any impending interruption of said services, any notice shall be delivered by hand or by messenger with proof of
receipt. 

  

	 	7.2	Any party may change its address by notifying the other parties in writing. 

 

	 	7.3	In the event a notice is transmitted by telecopier, the sender shall immediately transmit the original to the other party by registered mail messenger or hand delivery,
failing which the copy sent and received by telecopier shall be deemed to be the original. 

  

											
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	9.	SUBLEASE AND ASSIGNMENT 

Provided that the Sub-Tenant is not in default of the Sublease Agreement, the Sub-Tenant shall have the right to sublet the Subleased
Premises, or any part thereof, or to assign the Sublease Agreement by obtaining the prior written consent of the Sub-Landlord and Head Landlord, which consent in the case of Sub-Landlord shall not be unreasonably withheld. Sub-Tenant shall in each
instance comply with ail relevant provisions of the Head Lease and the Sub-Tenant shall remain, without benefit of division or discussion, solidarily responsible for the payment and performance of the rental, covenants and ail other obligations
incumbent upon the Sub-Tenant under the Sublease Agreement and Head Lease. 
  

	10.	SECURITY DEPOSIT 

 Upon
signature of the present, the Sub-Tenant shall remit to the Sub-Landlord the sum of THIRTY-SIX THOUSAND, TWO HUNDRED AND SEVENTY-SEVEN DOLLARS AND FORTY-TWO CENTS ($ 36, 277.42 ), of which TWELVE THOUSAND, NINETY-TWO DOLLARS AND FORTY-SEVEN
CENTS ($ 12,092.47 ) represents the prepaid Net Net Rent and the Additional Rent for the first (1st) month of the Term, including G.S.T. and Q.S.T., and of which TWENTY-FOUR THOUSAND, ONE HUNDRED AND EIGHTY-FOUR DOLLARS AND NINETY-FIVE CENTS IS
($ 24,184.95 ) represents the prepaid Net Net Rent and Additional Rent for the last two (2) months of the Term, which amounts are subject to adjustment. 
  

	11.	DEFAULT 

 The Sub-Tenant
shall be in default hereunder if it fails to perform any of its obligations as provided for herein or pursuant to the Head Lease as assumed by the terms and conditions hereof whereupon the Sub-Landlord may terminate this Sublease Agreement by simple
notice to the Sub-Tenant after the Sub-Tenant has been provided with a five (5) day notice period to cure the default. 
  

	12.	SUB-LANDLORD’S COVENANTS 

  

	 	12.1	Subject to the due performance by the Sub-Tenant of its obligations herein, the Sub-Landlord covenants and agrees with the Sub-Tenant 

 

	 	(a)	to enforce against the Head Landlord for the benefit of the Sub-Tenant, the covenants and obligations of the Head Landlord under the Head Lease which materially affect
the Subleased Premises; 

  

	 	(b)	perform ail of the obligations of the Sub-Landlord under this Sublease Agreement; 

 

	 	(c)	to forthwith deliver to the Sub-Tenant any and all notices with respect to the Subleased Premises received from the Head Landlord. 

 

	 	12.2	The Sub-Landlord represents and warrants to the Sub-Tenant that the Head Lease is in good standing and that the Sub-Landlord shall pay all amounts payable to Head
Landlord thereunder, throughout the balance of the term of the Head Lease, as provided for in the present Sublease Agreement. 

  

	13.	SPECIAL PROVISIONS 

  

	 	13.1	Condition of the Subleased Premises 

 The Sub-Tenant acknowledges that no promises, declarations nor any undertakings from the Sub-Landlord exist regarding any modifications, changes or additions to the Subleased Premises or the installation
of any kind of equipment, and that it takes possession of the Subleased Premises on an “AS IS” state and condition, save and except for the burned or defective lighting, which shall be replaced by the Sub-Landlord, at its cost; 

  

											
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	 	13.2	Early Occupancy 

 Notwithstanding
the commencement of the Term, the Sub-Tenant shall have the occupancy of the Subleased Premises on July 15, 2009 (hereinafter referred to as “Occupancy Date”), and from this date, oil the terms and conditions contained in the Sublease
Agreement and Head Lease shall take effect, save and except those provisions relating to the Sub-Tenant’s obligations to pay the Net Net Rent and the Additional Rent. 
 Notwithstanding the foregoing, the Sub-Tenant shall not, under any circumstances, have the occupancy of the Subleased Premises prior to the execution by the Sub-Tenant of the Sublease Agreement and
submitting to the Sub-Landlord a copy of its insurance policy as required herein. 
  

	 	13.3	Insurance 

 Sub-Tenant to
subscribe during the Term of this Sublease Agreement, the insurance requirements as set out in the Head Lease and provide a copy to Sub-Landlord. 
  

	 	13.4	Security cards of the Building 

Sub-Tenant shall make its own arrangements with Head Landlord for security access cards, and shall be responsible for all costs associated
therewith. 
  

	 	13.5	Furniture 

 It is understood and
agreed between the parties, that the Sub-Tenant will use the furniture presently in the Subleased Premises, with the exception of the conference room chairs (which are excluded), (hereinafter referred as to the “Furniture”), List of
furniture and photos of the Furniture are annexed hereto as Schedule “C”. The Furniture shall be used by the Sub-Tenant and shall remain in the Subleased Premises at the end of the Term. The Furniture will at all times during the Term
remain the property of the Sub-Landlord. 
 No cost or rent shall be charged to the Sub-Tenant for the use of the Furniture.
However, the Sub-Tenant shall be responsible for purchasing insurance and for maintaining the Furniture in good conditions, subject to reasonable wear and tear, throughout the Term. 

Notwithstanding anything to the contrary in this Section 13.5, and provided Sub-Tenant shall not be in default of any obligation
contained in the Sublease Agreement or the Head Lease either upon the giving of notice (as hereinafter provided) or upon the expiry date, the Sub-Tenant shall have the right to purchase the Furniture for the sum of EIGHT THOUSAND DOLLARS (S8.000.00)
plus all applicable taxes (hereinafter referred to as “Furniture Purchase Amount”). Sub-Tenant shall give written notice to Sub-Landlord of its election to purchase the Furniture, along with the Furniture Purchase Amount, not less than
NINETY (90) days prior to the expiry date of the Sublease Agreement. Subject to Sub-Tenant delivering timely notice and not then being in default of any obligation contained in the Sublease Agreement, title to the Furniture shall transfer to
Sub-Tenant upon the expiry date. 
  

	 	13.6	Sub-Tenant’s Alterations 

Sub-Landlord shall allow the Sub-Tenant to make alterations to the Subleased Premises necessary to the Sub-Tenant’s mode of business
at Sub-Tenant’s sole cost and responsibility, provided that the Sub-Tenant receives the Sub-Landlord’s and Head 

  

											
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Landlord prior written approval for said alterations, (said approval not to be unreasonably withheld in the case of Sub-Landlord) and that the Sub-Tenant complies with the proper section of the
Head Lease. 
 The Sub-Tenant shall submit plans showing the leasehold improvement and finishes to Sub-Landlord for approval. The
Sub-Tenant shall obtain both the Sub-Landlord’s and Head Landlord written approval and all required municipal and provincial permits prior to commencing any construction within the Subleased Premises. 

The Sub-Tenant shall be responsible for a) all costs relating to its approved work, b) any restoration obligations imposed by Head
Landlord, and c) surrendering the Subleased Premises upon the expiry date, in the condition required by the Head Lease. Notwithstanding, the Sub-Tenant shall only be obliged to restore the Subleased Premises to the conditions at the time of taking
possession and it shall not be obliged to restore the alterations or leasehold improvements previously made by the Sub-Landlord. 
  

	 	13.7	Parking 

 As of and from the
Occupancy Date, and until the Sublease Agreement expiry, the Sub-Landlord transfers to the Sub-Tenant its rights to use the parking spaces allowed to the Sub-Landlord, the whole as set forth in the Head Lease. Sub-Tenant shall be responsible for all
costs in connection with parking spaces. 
  

	 	13.8	Commission 

 The parties hereby
both represent and warrant to each other that the sole broker involved in the negotiations of the present transaction is CUSHMAN WAKEFIELD LePAGE INC., hereby represented by Luc Bourdeau (hereinafter referred to as the “Broker”).
Therefore, the Sub-Landlord binds itself to pay a brokerage commission only to and as per separate agreement between the Sub-Landlord and the Broker. 
  

	14.	PROTECTION OF INFORMATION 

The Sub-Tenant specifically authorizes the Sub-Landlord to collect (and to establish a file, if the Sub-Landlord so wishes) any
information on the Sub-Tenant including on its solvency which may be relevant or necessary for the execution of the present. To this end, any person, including personal information agents (credit bureaux), banks, sub-contractors and supplier having
such information are, by these presents, authorized to give such information to the Sub-Landlord prior to or during the Term. 
  

	15.	GOVERNING LAWS AND FORUM 

These presents and the Head Lease shall be interpreted and applied according to the laws of the Province of Quebec and any litigation in
relation with the interpretation or application of the Sublease Agreement shall be exclusively decided by the courts of the judicial district of Montreal. 
  

	16.	LANGUAGE 

 The parties
hereto acknowledge and confirm having requested that the Sublease Agreement and all notices and communications contemplated hereby be drafted in the English language. 
 Les parties aux présentes reconnaissent et confirment qu’elles ont exigé que le présent document ainsi que tous avis et communications qui y sont prévus soient
rédigés en anglais. 

  

											
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 Signed in the City of Montreal. 
 This 20 day of July 2009 
  

							
	 	 	 	 	DNP GREEN TECHNOLOGY INC.
				
	 /s/ Thomas Desbiens
	 		 	Per:	 	 /s/ Jean-François Huc

	Thomas Desbiens	 		 		 	Jean-François Huc, President
	Witness	 		 		 	
				
	 /s/ Thomas Desbiens
	 		 	Per:	 	 /s/ Mike Hartman

	Thomas Desbiens	 		 		 	Mike Hartman, Vice-President Finance
	Witness	 		 		 	  
 Sub-Tenant

 Signed in the City of Toronto. 
 This 22 day of July 2009 
  

							
	 	 	 	 	GENERAL ELECTRIC CAPITAL CANADA
				
	/s/ Stephane Basere	 		 	Per:	 	 /s/ Katherine Lee

	Witness	 		 		 	Katherine Lee, President
		 		 		 	  
 Sub-Landlord

  

											
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 SCHEDULE “A” 

PLAN OF THE SUBLEASED PREMISES 
 

 
  

  

											
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 SCHEDULE “B” 

HEAD LEASE 

LEASE OF OFFICE SPACE 
 DATE: March 13, 2008 
 BETWEEN: 

SOCIÉTÉ EN COMMANDITE DOUZE-CINQUANTE/ 
 TWELVE-FIFTY, COMPANY LIMITED 
 (“Landlord”) 

AND: 
 GENERAL ELECTRIC CAPITAL
CANADA 
 (“Tenant”) 
 PREMISES: 1250 René-Lévesque Blvd West, Montreal, Quebec 
 LANDLORD AND TENANT, In
consideration of the covenants herein contained, hereby agree as follows: 
 ARTICLE 1.00 DEFINITIONS 

1.01 Definitions 
 In this Lease:

  

	(a)	“Annual Rent” means in respect of the following period(s), the following annual amount(s), monthly investment(s) and annual rates calculated on the
basis of the Square Feet in the Premises. 

  

													
	 Period
	  	Annual Rent	 	  	Monthly
Installment	 	  	Rate per
square
foot	 
	 June 1, 2008 to May 31, 2013
	  	$	59,080.00	  	  	$	5,756.67	  	  	$	20.00	  

 For greater certainty the calculations of Annual Rent contemplated are subject to final measurement of
the Premises in accordance with Article 2.00 of Schedule “B” attached hereto. 
  

	(b)	“Architect” means such firm of professional architects or engineers that Landlord may from time to time engage for the preparation of construction
drawings for the Building or for general supervision of architectural and engineering aspects of it, and includes any consultant or consultants that Landlord or the firm of professional architects or engineers Landlord engages, appoints, as long as
the consultant or consultants act within the scope of their appointment and specialty. 

  

											
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 SCHEDULE “C” 

LIST & PHOTOS OF FURNITURE IN SUBLEASED PREMISES 

 

	•	 	 1 Sharp Aquos Special Edition Television 

  

	•	 	 9 standard telephones (Meridien Nortel) 

  

	•	 	 1 Meridien Nortel reception phone 

  

	•	 	 1 Polycom conference phone 

 

 

  

											
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 SCHEDULE “D” 

SUB-TENANT RESOLUTION 
 Excerpt
of the minutes of a meeting of the directors of DNP GREEN TECHNOLOGY INC. (the “Company”) held this 20 day of July 2009. 
 IT IS
RESOLVED THAT: 
 The Company enter into a Sublease Agreement (the “Sublease”) with GENERAL ELECTRIC CAPITAL
CANADA, for the premises located in 1250 René Lévesque blvd. west, 41st floor, Montreal (QC), the whole in accordance with a Sublease which has been submitted to the meeting and that Jean-François Huc, its President, be authorized to sign the Sublease on behalf of the
Company. 
 I, THE UNDERSIGNED, CERTIFY that the foregoing is a true copy of a resolution adopted at a meeting of the directors of the Company
duly called and held this 20 day of July 2009. 
 This 20 day of July 2009. 

 

	
	 /s/ Thomas Desbiens

	Thomas Desbiens
	Secretary

  

											
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 LANDLORD’S CONSENT 
 July 13, 2009 
  

	TO:	GENERAL ELECTRIC CAPITAL CANADA 

 -and- 
 DNP GREEN TECHNOLOGY, INC. 

Dear Sirs: 
 The undersigned (the
“Landlord”) consents to the sublease (“Sublease”) by General Electric Capital Canada {the “Sublandlord”) to DNP Green Technology, Inc. (the “Subtenant”), commencing as of the 1st
day of August, 2009 and terminating on the 31s( day of May, 2013 (the “Term of the Sublease”) of those certain subleased premises (the “Subleased Premises”) comprising a rentable area deemed for all intents and
purposes to be three thousand four hundred and fifty-four (3,454) square feet, located on the 41s1 floor of the building bearing civic address 1250 René-Lévesque Blvd. West, Montreal, Quebec (the “Building”),
being the premises leased by the Sublandlord from the Landlord in virtue of the Agreement of Lease dated March 13, 2008, as amended by Addendum #1 thereto dated November 13,2008 (collectively the “Head Lease”), which
consent is granted and shall remain effective strictly under and subject to the fulfilment by the Sublandlord and the Subtenant of the following terms and conditions: 
  

	1.	The Subtenant acknowledges having received a copy of the Head Lease and declares itself to be familiar with each and every one of its provisions. Notwithstanding any
contrary provision contained herein, the Subtenant guarantees to the Landlord and binds and obliges itself solidarily with the Sublandlord in favour of the Landlord (i) for the due and prompt performance of all of the obligations of the
Sublandlord under or in virtue of the Head Lease whose performance will be required during the Term of the Sublease and (ii) for all of the consequences flowing from any default to perform such obligations. It is understood that the Subtenant
shall not be responsible for the payment of any amounts by which the aggregate of the annual rental, contributions to Real Estate Taxes and Operating Expenses and electricity charges due by the Sublandlord from time to time under the Head Lease
exceeds the aggregate of the annual rental, contributions to Real Estate Taxes and Operating Expenses and electricity charges payable by the Subtenant under the Sublease. 

The Subtenant renounces to the benefits of division and discussion and makes of all of the obligations for which it is liable as aforesaid
its personal affair, the whole as if the Subtenant were the tenant of the Premises under the Head Lease. 
  

	2.	The Sublandlord and the Subtenant acknowledge and agree: 

  

	 	(a)	that, except as otherwise expressly provided in this consent, as between themselves, on the one hand, and the Landlord, on the other hand, the Sublease is and will at
all times be deemed to have been concluded under the same terms and conditions as are contained in the Head Lease so that the Subtenant is and shall remain obligated towards the Landlord in the same manner as is the Sublandlord obligated towards the
Landlord in virtue of the Head Lease; and 

  

	 	(b)	that the present consent does not in any way constitute a release of the Sublandlord from its obligations under or in virtue of the Head Lease and no provision of the
present consent will be interpreted so as to exonerate the Sublandlord in any manner whatsoever from such obligations. 

  

											
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	3.	The Sublandlord and the Subtenant acknowledge and agree that the Sublease and any rights the Subtenant has or may have to occupy the Subleased Premises flow exclusively
from and are entirely conditional upon the continued existence of the Head Lease and the Sublease, so that in the event the Head Lease or the Sublease expires or is repudiated, disavowed, disclaimed, cancelled, resiliated or otherwise terminated,
for any reason or in any circumstances whatsoever, the Sublease and such rights of occupancy may be terminated at any time, at the option of the Landlord, upon not less than sixty (60) days prior written notice to the Subtenant. The Sublandlord
and the Subtenant hereby irrevocably waive and disclaim the benefit of any agreement or provision of law to the contrary effect and undertake to indemnify and hold harmless the Landlord from all losses, damages, costs and expenses which the Landlord
may incur should such acknowledgement and undertaking not be respected in any way or should such waiver and disclaimer not operate to the benefit of the Landlord in any way, the whole for any reason or in any circumstances whatsoever.

  

	4.	Notwithstanding any agreement between the Sublandlord and the Subtenant to the contrary, it is acknowledged and understood that, during the Term of the Sublease, by
written notice from the Landlord to the Sublandlord in the event that the Sublandlord does not respect its obligations under the Head Lease or the Sublease, the Landlord may require that all rentals and additional rentals due and to become due by
the Subtenant to the Sublandlord in virtue of the Sublease shall be paid directly to the Landlord on account of the rentals and additional rentals payable in virtue of the Head Lease. 

 

	5.	The Sublandlord and the Subtenant represent and warrant to the Landlord that the Head Lease and the Sublease are in good standing and that they shall remain so
throughout the balance of the term of the Head Lease. 

  

	6.	 The Subtenant will not have the right to assign the Sublease or to sub-sublease or otherwise lease the Subleased Premises or permit their use by
another, in whole or in part, without the prior written consent of the Landlord1 such subsequent assignment, sublease or use shall be governed by the provisions of the Head Lease. The Sublandlord and the Subtenant undertake and agree that the Sublease will not be published against
the Land (as defined in the Head Lease) and the Building, under pain of nullity, at the Landlord’s option, of the Sublease and of this consent. 

  

	7.	In accordance with Section 14 of the offer to Sublease, the Landlord agrees that during the Term of the Sublease, the Subtenant shall be entitled to lease three
(3) unreserved parking spaces in the indoor parking garage of the Building, the whole at the prevailing market rental rates for unreserved parking spaces from time to time in effect in the Building, plus applicable taxes. However, in the event
the Subtenant reduces the number of such spaces at any time upon notice to the Landlord or the Sublandlord, as the case may be, it shall forfeit its right to such spaces. 

 

	8.	The Sublandlord undertakes to pay all costs and expenses incurred by the Landlord relating to the Sublease, including, without limitation, legal fees incurred in the
negotiation, drafting and execution of this consent and any other agreements relating hereto (up to a maximum of $1,500.00), and undertakes and agrees to indemnify and hold harmless the Landlord from all such costs and expenses.

  

	9.	All improvements, additions, alterations and repairs which the Sublandlord or (he Subtenant have carried out or may earn/ out in the Subleased Premises, by whomsoever
effected, shall be deemed to have been made by the Sublandlord for its own account. All work contemplated in this paragraph 9 shall be governed by the provisions of the Head Lease. 

 

	1 	 which consent shall not be unreasonably withheld 

  

											
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	10.	The Sublandlord and the Subtenant acknowledge and agree that the Landlord has no obligation under and will in no way be bound by the provisions of any offer or other
agreement which has intervened or which may intervene between the Sublandlord and the Subtenant relating to the Subleased Premises or the subject matter of this consent and this whether or not the Landlord has been or may be advised of or has or may
have knowledge thereof. 

  

	11.	At the express request of the parties, this consent has been drafted in English. À la demande expresse des parties, ce consentement a été
rédigé en anglais. 

 This consent will have no effect unless three (3) copies thereof have
been duly signed by the Sublandlord and the Subtenant and delivered to the Landlord on or before the 24th day of July, 2009. 
 Yours truly, 
 SOCIÉTÉ EN COMMANDITE DOUZE-CINQUANTE/ 
 TWELVE-FIFTY, COMPANY LIMITED,
represented by 
 its manager (without personal liability), OPGI Management 
 GP Inc., as general partner of the OPGI Management 
 Limited Partnership 

“Landlord” 
  

									
	Per:	 	 /s/ Michael Stones
	 		 	Per:	 	 /s/ Renée Vézina

		 	Michael Stones	 		 		 	Renée Vézina

 ACCEPTED AND AGREED on the 20 day of July, 2009 
 GENERAL ELECTRIC CAPITAL CANADA 
 AND ACQUISITIONS 

“Sublandlord” 
  

									
	Per:	 	 /s/ (illegible)
	 		 	Per:	 	  

 DPN GREEN TECHNOLOGY, INC. 
 “Subtenant” 
  

									
	Per:	 	 /s/ Mike Hartmann
	 		 	Per:	 	 /s/ Jean-François Huc

		 	Mike Hartmann	 		 		 	Jean-François Huc

  

											
	LEGAL	 		 		 		 	INITIALS
	APPROVED  	 		 		 		 	 	 	 
	AS TO FORM  	 		 		 		 	SUB-TENANT 	 	 SUB-LANDLORD
	 	 		 	Page- 3 -

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