Document:

EX-10.1b

GUARANTY AGREEMENT

THIS GUARANTY AGREEMENT (“GUARANTY”) is made to be effective as of September      , 2005, by
     , a Delaware corporation (“GUARANTOR”), for the benefit of
MANUFACTURERS AND TRADERS TRUST COMPANY, individually and in its capacity as the Administrative
Agent (“ADMINISTRATIVE AGENT”) for the “LENDERS” that are now or hereafter parties to an Amended
And Restated Loan And Security Agreement (as amended from time to time, the “LOAN AGREEMENT”) dated
to be effective as of September      , 2005 by and among MARTEK BIOSCIENCES CORPORATION, a Delaware
corporation (“BORROWER”), the ADMINISTRATIVE AGENT, and the LENDERS. Hereafter, the ADMINISTRATIVE
AGENT and the LENDERS are collectively referred to as the “SECURED PARTIES.”

RECITALS

The LENDERS have been requested to extend loans (collectively, “LOANS”) to the BORROWER in the
maximum aggregate principal amount of One Hundred Thirty-Five Million Dollars ($135,000,000.00), as
such amount may be increased or decreased from time to time in accordance with the terms of the
LOAN AGREEMENT. The LENDERS are unwilling to extend the LOANS to the BORROWER unless the GUARANTOR
agrees to guaranty to the SECURED PARTIES the payment and performance by the BORROWER of all
obligations owed by the BORROWER to the SECURED PARTIES in connection with the LOANS. The
GUARANTOR will derive substantial direct and indirect economic benefits from the extension of the
LOANS by the SECURED PARTIES to the BORROWER, and has agreed to execute and deliver this GUARANTY
in order to induce the SECURED PARTIES to extend the LOANS to the BORROWER. Hereafter, the LOAN
AGREEMENT and all documents and writings evidencing or securing the LOANS are collectively referred
to as the “CREDIT DOCUMENTS.”

NOW, THEREFORE, in consideration of these premises and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the GUARANTOR hereby agrees to
provide to the SECURED PARTIES the following guaranties and indemnifications.

Section 1. Guaranty. The GUARANTOR guarantees to the SECURED PARTIES:
(a) the payment of any and all sums now or hereafter due and owing to the SECURED PARTIES
by the BORROWER as a result of or in connection with any and all existing or future indebtedness,
liability, or obligation of every kind, nature, type, and variety owed by the BORROWER to the
SECURED PARTIES from time to time, arising out of or related to the LOANS or the CREDIT DOCUMENTS,
whether direct or indirect, absolute or contingent, primary or secondary, joint or several,
unconditional or conditional, known or unknown, liquidated or unliquidated, contractual or
tortious, including, but not limited to, all amounts of principal, interest, charges,
reimbursements, advancements, escrows, and fees; (b) that all sums now or hereafter due
and owing by the BORROWER to the SECURED PARTIES in connection with or arising from the LOANS shall
be paid when and as due, whether by reason of installment, maturity, acceleration or otherwise,
time being of the essence; (c) the payment and performance of all indemnification
obligations and duties to defend owed by the BORROWER to the SECURED PARTIES in accordance with the
terms of the CREDIT DOCUMENTS; and (d) the timely, complete, continuous, and strict
performance and observance by the BORROWER of each of the terms, covenants, agreements and
conditions contained in the CREDIT DOCUMENTS. The GUARANTOR agrees to hold harmless and indemnify
the SECURED PARTIES from any and all costs and expenses, including reasonable attorneys’ fees,
incurred by the SECURED PARTIES as a result of a failure by the BORROWER to satisfy its duties and
obligations under the CREDIT DOCUMENTS or the GUARANTOR’S failure to satisfy the duties and
obligations assumed by the GUARANTOR under this GUARANTY. As used in this GUARANTY, the term
“OBLIGATIONS” shall refer to the obligations of payment, performance, and indemnification which the
GUARANTOR has undertaken and assumed pursuant to this GUARANTY, as described in this Section and in
other Sections of this GUARANTY.

Section 2. Nature Of Guaranty. This GUARANTY is irrevocable and absolute
and one of payment and not just collection, and is direct, immediate, and primary. This GUARANTY
makes the GUARANTOR a surety to the SECURED PARTIES for the ratable and proportionate benefit of
the SECURED PARTIES with respect to the OBLIGATIONS and the equivalent of a co-obligor with the
BORROWER.

Section 3. Secured Parties Need Not Pursue Other Rights. The SECURED
PARTIES shall be under no obligation to pursue any of the SECURED PARTIES’ rights and remedies
against: (a) the BORROWER; (b) any of the BORROWER’S collateral securing the
obligations of the BORROWER to the SECURED PARTIES; (c) any other guarantor; or
(d) any other guarantor=s collateral, before pursuing the SECURED PARTIES’ rights
and remedies against the GUARANTOR.

Section 4. Certain Rights Of Secured Parties. The GUARANTOR hereby assents
to any and all terms and agreements between the SECURED PARTIES and the BORROWER or between the
SECURED PARTIES and any other guarantor, and all amendments and modifications thereof, whether
presently existing or hereafter made and whether oral or in writing. The SECURED PARTIES may,
without compromising, impairing, diminishing, or in any way releasing the GUARANTOR from the
OBLIGATIONS and without notifying or obtaining the prior approval of the GUARANTOR, at any time or
from time to time: (a) waive or excuse a default by the BORROWER or any other guarantor,
or delay in the exercise by the SECURED PARTIES of any or all of the SECURED PARTIES’ rights or
remedies with respect to such default or defaults; (b) grant extensions of time for
payment or performance by the BORROWER or any other guarantor; (c) release, substitute,
exchange, surrender, or add collateral of the BORROWER or of any other guarantor, or waive,
release, or subordinate, in whole or in part, any lien or security interest held by the SECURED
PARTIES on any real or personal property securing payment or performance, in whole or in part, of
the obligations of the BORROWER to the SECURED PARTIES or of any other guarantor; (d)
release the BORROWER or any other guarantor; (e) apply payments made by the BORROWER or
by any other guarantor to any sums owed by the BORROWER to the SECURED PARTIES, in any order or
manner, or to any specific account or accounts, as the SECURED PARTIES may elect; and (f)
modify, change, renew, extend, or amend in any respect the SECURED PARTIES’ agreement with the
BORROWER or any other guarantor, or any document, instrument, or writing embodying or reflecting
the same, including without limitation modifications which increase the amount of the OBLIGATIONS
or extend the maturity of the OBLIGATIONS.

Section 5. Waivers By Guarantor. The GUARANTOR waives: (a) any
and all notices whatsoever with respect to this GUARANTY or with respect to any of the obligations
of the BORROWER to the SECURED PARTIES, including, but not limited to, notice of (i) the SECURED
PARTIES’ acceptance hereof or the SECURED PARTIES’ intention to act, or the SECURED PARTIES’
action, in reliance hereon, (ii) the present existence or future incurring of any of the
obligations of the BORROWER to the SECURED PARTIES or any terms or amounts thereof or any change
therein, (iii) any default by the BORROWER or any surety, pledgor, grantor of security, guarantor
or any person who has guarantied or secured in whole or in part the obligations of the BORROWER to
the SECURED PARTIES, and (iv) the obtaining or release of any guaranty or surety agreement, pledge,
assignment, or other security for any of the obligations of the BORROWER to the SECURED PARTIES;
(b) presentment and demand for payment of any sum due from the BORROWER or any other
guarantor and protest of nonpayment; and (c) demand for performance by the BORROWER or
any other guarantor.

Section 6. Unenforceability Of Obligations Of Borrower. This GUARANTY shall
be valid, binding, and enforceable even if the obligations of the BORROWER to the SECURED PARTIES
which are guaranteed hereby are now or hereafter become invalid, unenforceable or uncollectible for
any reason.

Section 7. No Conditions Precedent. This GUARANTY shall be effective and
enforceable immediately upon its execution. The GUARANTOR acknowledges that no unsatisfied
conditions precedent to the effectiveness and enforceability of this GUARANTY exist as of the date
of its execution and that the effectiveness and enforceability of this GUARANTY are not in any way
conditioned or contingent upon any event, occurrence, or happening, or upon any condition existing
or coming into existence either before or after the execution of this GUARANTY.

Section 8. No Duty To Disclose. The SECURED PARTIES shall have no present
or future duty or obligation to discover or to disclose to the GUARANTOR any information, financial
or otherwise, concerning the BORROWER, any other guarantor, or any collateral securing either the
obligations of the BORROWER to the SECURED PARTIES or of any other person who may have guarantied
in whole or in part the obligations of the BORROWER to the SECURED PARTIES. The GUARANTOR waives
any right to claim or assert any such duty or obligation on the part of the SECURED PARTIES. The
GUARANTOR agrees to obtain all information which the GUARANTOR considers either appropriate or
relevant to this GUARANTY from sources other than the SECURED PARTIES and to become and remain at
all times current and continuously apprised of all information concerning the BORROWER, other
guarantors, and any collateral which is material and relevant to the OBLIGATIONS of the GUARANTOR
under this GUARANTY.

Section 9. Existing Or Future Guaranties. The execution of this GUARANTY
shall not discharge, terminate or in any way impair or adversely affect the validity or
enforceability of any other guaranty given by the GUARANTOR to the SECURED PARTIES. The execution
and delivery by the GUARANTOR of any future guaranty for the benefit of the SECURED PARTIES shall
not discharge, terminate, or in any way impair or adversely affect the validity or enforceability
of this GUARANTY unless expressly stated therein. All guaranties provided by the GUARANTOR to the
SECURED PARTIES are intended to be cumulative and shall remain in full force and effect unless and
until discharged and terminated in accordance with any expressly stated termination provisions set
forth therein.

Section 10. Cumulative Liability. The liability of the GUARANTOR under this
GUARANTY shall be cumulative to, and not in lieu of, the GUARANTOR=S liability under any
other CREDIT DOCUMENT or in any capacity other than as GUARANTOR hereunder.

Section 11. Obligations Are Unconditional. The payment and performance of
the OBLIGATIONS shall be the absolute and unconditional duty and obligation of the GUARANTOR, and
shall be independent of any defense or any rights of setoff, recoupment or counterclaim which the
GUARANTOR might otherwise have against the SECURED PARTIES, and the GUARANTOR shall pay and perform
these OBLIGATIONS, free of any deductions and without abatement, diminution or setoff. Until such
time as the OBLIGATIONS have been fully paid and performed, the GUARANTOR: (a) shall not
suspend or discontinue any payments provided for herein; (b) shall perform and observe
all of the covenants and agreements contained in this GUARANTY; and (c) shall not
terminate or attempt to terminate this GUARANTY for any reason. No delay by the SECURED PARTIES in
making demand on the GUARANTOR for satisfaction of the OBLIGATIONS shall prejudice or in any way
impair the SECURED PARTIES= ability to enforce this GUARANTY.

Section 12. Defenses Against Borrower. The GUARANTOR waives any right to
assert against the SECURED PARTIES any defense (whether legal or equitable), claim, counterclaim,
or right of setoff or recoupment which the GUARANTOR may now or hereafter have against the BORROWER
or any other guarantor.

Section 13. Events Of Default. The occurrence of any of the following (each
an “EVENT OF DEFAULT”) shall entitle the SECURED PARTIES, without notice or demand, to accelerate
and call due the OBLIGATIONS, even if the SECURED PARTIES have not accelerated and called due the
sums owed to the SECURED PARTIES by the BORROWER: (a) the occurrence of an “EVENT OF
DEFAULT,” as such term is defined in the LOAN AGREEMENT; and (b) a failure of the
GUARANTOR to perform any covenant or agreement contained in this GUARANTY, any other CREDIT
DOCUMENT, or in any other agreement between the GUARANTOR and the SECURED PARTIES.

Section 14. Expenses Of Collection And Attorneys= Fees. Should this
GUARANTY be referred to an attorney for collection, the GUARANTOR shall pay all of the SECURED
PARTIES= reasonable costs, fees and expenses resulting from such referral, including
reasonable attorneys= fees, which the SECURED PARTIES may incur, even though judgment has not
been confessed or suit has not been filed.

Section 15. Confession Of Judgment. Upon the occurrence of an EVENT OF
DEFAULT, the GUARANTOR authorizes any attorney designated by the SECURED PARTIES or admitted to
practice before any court of record in the United States to appear on its behalf in any court in
one or more proceedings, or before any clerk thereof or prothonotary or other court official, and
to confess judgment against the GUARANTOR in the full amount due on this GUARANTY (including
principal, accrued interest and any and all charges, fees and costs) plus attorneys= fees
equal to fifteen percent (15%) of the amount due, plus court costs, all without prior notice or
opportunity of the GUARANTOR for a prior hearing. The GUARANTOR waives the benefit of any
statutes, ordinances, or rules of court which may be lawfully waived conferring upon it any right
or privilege of exemption, homestead rights, stay of execution, or supplementary proceedings, or
other relief from the enforcement or immediate enforcement of a judgment or related proceedings on
a judgment. The authority and power to appear for and enter judgment against the GUARANTOR shall
not be exhausted by one or more exercises thereof, or by any imperfect exercise thereof, and shall
not be extinguished by any judgment entered pursuant thereto; such authority and power may be
exercised on one or more occasions from time to time, in the same or different jurisdictions, as
often as the SECURED PARTIES shall deem necessary, convenient, or proper. In the event that the
SECURED PARTIES receive, as a result of execution on a judgment confessed hereunder,
attorneys= fees which exceed the actual legal fees incurred by the SECURED PARTIES in
connection with the enforcement of this GUARANTY, then upon full and final payment of all other
sums due and owing to the SECURED PARTIES in accordance with this GUARANTY and the payment to the
SECURED PARTIES of the actual attorneys’ fees incurred by the SECURED PARTIES, the SECURED PARTIES
shall remit such excess amount of attorneys’ fees to the GUARANTOR.

Section 16. Interest Rate. If judgment is entered against the GUARANTOR on
this GUARANTY, the amount of the judgment entered (which, unless applicable law specifically
provides to the contrary, includes all principal, prejudgment interest, late charges, prepayment
charges if any are provided for, collection expenses, attorneys= fees, and court costs) shall
bear interest at the highest rate after default authorized by the CREDIT DOCUMENTS (“DEFAULT RATE”)
as of the date of entry of the judgment to the extent permitted by applicable law. In the event
any statute or rule of court specifies the rate of interest which a judgment on this GUARANTY may
bear or the amount on which such interest rate may apply and such rate or amount is less than that
called for in the preceding sentence absent a restriction under applicable law, the GUARANTOR:
(a) agrees to pay to the order of the SECURED PARTIES an amount as will equal the
interest computed at the DEFAULT RATE on the judgment amount (which, for this purpose, shall be
considered to include all principal, prejudgment interest, late charges, prepayment charges if any
are provided for, collection expense fees, attorneys= fees, and court costs) less the
interest due on the amount of the judgment which bears judgment interest; and (b)
authorizes the confession of judgment pursuant to the confession of judgment provision of this
GUARANTY if the GUARANTOR fails to make payment thereof.

Section 17. Enforcement During Bankruptcy Of Borrower. Enforcement of this
GUARANTY shall not be stayed or in any way delayed as a result of the filing of a petition under
the United States Bankruptcy Code, as amended, by or against the BORROWER. Should the
SECURED PARTIES be required to obtain an order of the United States Bankruptcy Court to begin
enforcement of this GUARANTY after the filing of a petition under the United States Bankruptcy
Code, as amended, by or against the BORROWER, the GUARANTOR hereby consents to this relief and
agrees to file or cause to be filed all appropriate pleadings to evidence and effectuate such
consent and to enable the SECURED PARTIES to obtain the relief requested.

Section 18. Remedies Cumulative. All of the SECURED PARTIES= rights
and remedies shall be cumulative and any failure of the SECURED PARTIES to exercise any right
hereunder shall not be construed as a waiver of the right to exercise the same or any other right
at any time, and from time to time, thereafter.

Section 19. Continuing Guaranty. This GUARANTY is a continuing guaranty of
all existing and future obligations of the BORROWER to the SECURED PARTIES arising out of or
relating to the LOANS or the CREDIT DOCUMENTS and may not be terminated by the GUARANTOR until
after the final and unconditional repayment and performance of the LOANS and all of the OBLIGATIONS
and in the absence of any pending or threatened proceedings to avoid or recover any payment
previously received by the SECURED PARTIES upon the LOANS or any of the OBLIGATIONS. All
obligations and duties of indemnification assumed by the GUARANTOR under this GUARANTY and the
obligations of the GUARANTOR to guaranty any covenants or agreements of indemnification or duties
to defend provided by the BORROWER to the SECURED PARTIES shall survive the repayment of the LOANS
and the termination of this GUARANTY.

Section 20. Reinstatement. If at any time any payment, or portion thereof,
made by, or for the account of, the BORROWER or the GUARANTOR on account of any of the obligations
and liabilities under any of the CREDIT DOCUMENTS is set aside by any court or trustee having
jurisdiction as a voidable preference, or fraudulent conveyance or must otherwise be restored or
returned by the SECURED PARTIES to the BORROWER or any other person or entity under any insolvency,
bankruptcy or other federal and/or state law or as a result of any dissolution, liquidation or
reorganization of the BORROWER or any other person or entity, or for any other reason, the
GUARANTOR hereby agrees that this GUARANTY shall continue and remain in full force and effect or be
reinstated, as the case may be, all as though such payment(s) had not been made.

Section 21. Rights Of Subrogation, Etc. In the event the GUARANTOR pays any
sum to or for the benefit of the SECURED PARTIES pursuant to this GUARANTY, the GUARANTOR may not
enforce any right of contribution, indemnification, exoneration, reimbursement, subrogation or
other right or remedy against the BORROWER, any other guarantor, or any collateral, whether real,
personal, or mixed, securing the obligations of the BORROWER to the SECURED PARTIES or the
obligations of any other guarantor to the SECURED PARTIES until such time as the SECURED PARTIES
have been paid in full and has no further claim against the BORROWER, any other guarantor, or any
collateral. The GUARANTOR waives and releases any claim which the GUARANTOR hereafter may have
against the SECURED PARTIES if some action of the SECURED PARTIES, whether intentional or
negligent, impairs, destroys, or in any way adversely affects any right of contribution,
indemnification, exoneration, reimbursement, subrogation, or the like which the GUARANTOR may have
upon the payment of any sum to or for the benefit of the SECURED PARTIES pursuant to this GUARANTY.

Section 22. Subordination Of Certain Indebtedness. If the GUARANTOR
advances any sums to the BORROWER or its successors or assigns or if the BORROWER or its successors
or assigns shall hereafter become indebted to the GUARANTOR, such sums and indebtedness shall be
subordinate in all respects to the amounts then or thereafter due and owing to the SECURED PARTIES
by the BORROWER; provided, however, that unless an EVENT OF DEFAULT shall have occurred and be
continuing the BORROWER shall be permitted to repay such sums and indebtedness to the GUARANTOR.

Section 23. Renewals, Etc. This GUARANTY shall apply to all sums now or
hereafter owed by the BORROWER to the SECURED PARTIES and to all extensions, modifications,
amendments, renewals, substitutions, and refinancings thereof.

Section 24. Choice Of Law. The laws of the State of Maryland (excluding,
however, conflict of law principles) shall govern and be applied to determine all issues relating
to this GUARANTY and the rights and obligations of the parties hereto, including the validity,
construction, interpretation, and enforceability of this GUARANTY and its various provisions and
the consequences and legal effect of all transactions and events which resulted in the issuance of
this GUARANTY or which occurred or were to occur as a direct or indirect result of this GUARANTY
having been executed.

Section 25. Consent To Jurisdiction; Agreement As To Venue. The GUARANTOR
irrevocably consents to the non-exclusive jurisdiction of the courts of the State of Maryland,
including all United States District Courts located in Maryland. The GUARANTOR agrees that venue
shall be proper in any circuit court of the State of Maryland selected by the SECURED PARTIES or in
any United States District Court located in Maryland and waives any right to object to the
maintenance of a suit in any of the state or federal courts of the State of Maryland on the basis
of improper venue or of inconvenience of forum.

Section 26. Invalidity Of Any Part. If any provision or part of any
provision of this GUARANTY shall for any reason be held invalid, illegal, or unenforceable in any
respect, such invalidity, illegality, or unenforceability shall not affect any other provisions or
the remaining part of any effective provisions of this GUARANTY, and this GUARANTY shall be
construed as if such invalid, illegal, or unenforceable provision or part thereof had never been
contained herein, but only to the extent of its invalidity, illegality, or unenforceability.

Section 27. Amendment Or Waiver. This GUARANTY may be amended only by a
writing duly executed by the GUARANTOR and the ADMINISTRATIVE AGENT with the consent of those
SECURED PARTIES as may be required under the LOAN AGREEMENT. No waiver by the SECURED PARTIES of
any of the provisions of this GUARANTY or any of the rights or remedies of the SECURED PARTIES with
respect hereto shall be considered effective or enforceable unless in writing.

Section 28. Notices. Any notice required or permitted by or in connection
with this GUARANTY shall be in writing and shall be made by facsimile (confirmed on the date the
facsimile is sent by one of the other methods of giving notice provided for in this Section) or by
hand delivery, by Federal Express, or other similar overnight delivery service, or by certified
mail, unrestricted delivery, return receipt requested, postage prepaid, addressed to the SECURED
PARTIES or the GUARANTOR at the appropriate address set forth below or to such other address as may
be hereafter specified by written notice by the SECURED PARTIES or the GUARANTOR. Notice shall be
considered given as of the date of the facsimile or the hand delivery, one (1) calendar day after
delivery to Federal Express or similar overnight delivery service, or three (3) calendar days after
the date of mailing, independent of the date of actual delivery or whether delivery is ever in fact
made, as the case may be, provided the giver of notice can establish the fact that notice was given
as provided herein. If notice is tendered pursuant to the provisions of this Section and is
refused by the intended recipient thereof, the notice, nevertheless, shall be considered to have
been given and shall be effective as of the date herein provided.

If to the SECURED PARTIES:

MANUFACTURERS AND TRADERS TRUST COMPANY, As Administrative Agent

25 S. Charles Street, 12th Floor

Baltimore, Maryland 21201

Attn: Hugh E. Giorgio, Vice President

Facsimile: (410) 244-4447

If to the GUARANTOR:

[     ]

c/o Martek Biosciences Corporation

6480 Dobbin Road

Columbia, Maryland 21045

Attn.: George P. Barker, Esquire

Fax No.: (410) 740-2985

With A Courtesy Copy To:

HOGAN & HARTSON, L.L.P.

111 South Calvert Street, Suite 1600

Baltimore, Maryland 21202

Attn.: Kevin G. Gralley, Esquire

Fax No.: (410) 539-6981

The failure of the SECURED PARTIES to send the above courtesy copy shall not impair the
effectiveness of notice given to the GUARANTOR in the manner provided herein.

Section 29. Binding Nature. This GUARANTY shall inure to the benefit of and
be enforceable by the SECURED PARTIES and the SECURED PARTIES’ successors and assigns and any other
person to whom the SECURED PARTIES may grant an interest in the obligations of the BORROWER to the
SECURED PARTIES, and shall be binding upon and enforceable against the GUARANTOR and the
GUARANTOR’S successors, and assigns.

Section 30. Joint And Several Nature. The liability of the GUARANTOR shall
be joint and several with the liability of any other guarantor of the LOANS not a party to this
GUARANTY.

Section 31. Assignability. This GUARANTY or an interest therein may be
assigned by the SECURED PARTIES, or by any other holder, at any time or from time to time, without
prior notice to or consent from the GUARANTOR.

Section 32. Tense, Gender, Defined Terms, Captions. As used herein, the
plural includes the singular, and the singular includes the plural. The use of any gender applies
to any other gender. If more than one person has executed this GUARANTY, the term “GUARANTOR”
means all such persons collectively or any one or more of such persons individually or
collectively, as the case may be and as the context may require. All defined terms are completely
capitalized throughout this GUARANTY. All captions are for the purpose of convenience only.

Section 33. Seal And Effective Date. This GUARANTY is an instrument
executed under seal and is to be considered effective and enforceable as of the date set forth on
the first page hereof, independent of the date of actual execution.

Section 34. Waiver Of Trial By Jury. The GUARANTOR and the SECURED PARTIES,
by their execution and acceptance, respectively, of this GUARANTY, agree that any suit, action, or
proceeding, whether claim or counterclaim, brought or instituted by either party hereto or any
successor or assign of any party on or with respect to this GUARANTY or which in any way relates,
directly or indirectly, to this GUARANTY or any event, transaction, or occurrence arising out of or
in any way connected with this GUARANTY, or the dealings of the parties with respect thereto, shall
be tried only by a court and not by a jury. EACH PARTY HEREBY EXPRESSLY WAIVES ANY RIGHT TO A
TRIAL BY JURY IN ANY SUCH SUIT, ACTION, OR PROCEEDING.

IN WITNESS WHEREOF, the GUARANTOR has executed this GUARANTY with the specific intention of
creating a document under seal.

	 	 	 	 	 	 	 
	WITNESS:

	 	GUARANTOR:
	 	

	 	

	 
	 	 	 	 	 	 
	 	 	[____________________________________]
	 	 
	 
	 	 	 	 	 	 
	
 
	 	By:
	 	 	 	(SEAL)
	 

	 	 	 	 
	 	

	
 
	 	 	 	Name:
	 	

	
 
	 	 	 	 
	 	

	
 
	 	 	 	Title:EX-10.1c

SECURITY AGREEMENT

THIS SECURITY AGREEMENT is made to be effective as of      , 200     , by
     , a Delaware corporation (“GUARANTOR”), for the benefit of
MANUFACTURERS AND TRADERS TRUST COMPANY, individually and in its capacity as the Agent
(“ADMINISTRATIVE AGENT”) for the “LENDERS” that are now or hereafter parties to an Amended And
Restated Loan And Security Agreement (as amended from time to time, the “LOAN AGREEMENT”) dated to
be effective as of September      , 2005, by and among the “BORROWER” (hereinafter defined), the
ADMINISTRATIVE AGENT, and the LENDERS. Hereafter, the ADMINISTRATIVE AGENT and the LENDERS are
collectively referred to as the “SECURED PARTIES.”

RECITALS

The GUARANTOR has executed and delivered a Guaranty Agreement (“GUARANTY”) of even date
herewith pursuant to which the GUARANTOR has guaranteed to the SECURED PARTIES the payment and
performance of various obligations owed by MARTEK BIOSCIENCES CORPORATION, a Delaware corporation
(“BORROWER”), to the SECURED PARTIES. The GUARANTOR has agreed to secure all of the duties and
obligations owed by the GUARANTOR to the SECURED PARTIES pursuant to the GUARANTY by granting
security interests to the SECURED PARTIES in and to certain of the GUARANTOR’S assets. The
GUARANTOR has executed and delivered this Security Agreement in order to grant such security
interests.

NOW, THEREFORE, in consideration of these premises and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

ARTICLE 1

DEFINITIONS

As used in this Security Agreement, the terms set forth in this Article 1 have the meanings
set forth below, unless the specific context of this Security Agreement clearly requires a
different meaning. Terms defined in this Article 1 or elsewhere in this Security Agreement are in
all capital letters throughout this Security Agreement. The singular use of any defined term
includes the plural and the plural use includes the singular.

Section 1.1. Account, Chattel Paper, Document, General Intangibles, Goods,
Instrument, Letter-Of-Credit Right, Payment Intangible, Promissory Notes, And Software. The
terms “ACCOUNT,” “CHATTEL PAPER,” “DOCUMENT,” “GENERAL INTANGIBLES,” “GOODS,” “INSTRUMENT,”
“LETTER-OF-CREDIT RIGHT,” “PAYMENT INTANGIBLE,” “PROMISSORY NOTES,” and “SOFTWARE” shall have the
same respective meanings as are given to those terms in the Uniform Commercial Code, as
adopted and in effect in the State of Maryland.

Section 1.2. Agreement. The term “AGREEMENT” means this Security Agreement,
as amended, extended, or modified from time to time by the parties hereto, as well as all
schedules, exhibits and attachments hereto.

Section 1.3. Collateral. The term “COLLATERAL” means all of the following
types of assets and personal property of the GUARANTOR, wherever located, whether now owned or
hereafter acquired by the GUARANTOR, together with all substitutions therefor, and all replacements
and renewals thereof, and all accessions, additions, and packaging relating thereto: (i)
ACCOUNTS; (ii) INVENTORY, including returned, rejected, or repossessed INVENTORY and
rights of reclamation and stoppage in transit with respect to INVENTORY; (iii)
RECEIVABLES; (iv) all SOFTWARE evidencing or used in the tracking, monitoring,
maintenance or collection of any of the foregoing; (v) all GENERAL INTANGIBLES necessary
for the collection, monitoring or maintenance of RECEIVABLES, or for the sale of the INVENTORY; and
(vi) all RECORDS relating to or pertaining to any of the above listed COLLATERAL;
provided, however, that in no event shall the COLLATERAL include any INTELLECTUAL PROPERTY except
to the limited extent that the use or licensing of any INTELLECTUAL PROPERTY is necessary for the
liquidation, sale or collection of any of the COLLATERAL during any continuing EVENT OF DEFAULT.

Section 1.4. Customers. The term “CUSTOMERS” means the persons to or for
whom the GUARANTOR sells or leases GOODS or INVENTORY or for whom the GUARANTOR performs services,
together with all other account debtors of the GUARANTOR.

Section 1.5. Event Of Default. The term “EVENT OF DEFAULT” means
collectively: (a) any AEVENT OF DEFAULT,@ as such term is defined in the GUARANTY; or
(b) any default by the GUARANTOR of any of its covenants or duties under this AGREEMENT.

Section 1.6. Insolvency Proceedings. The term “INSOLVENCY PROCEEDINGS”
means, with respect to any PERSON, any proceeding commenced by or against such PERSON, under any
provision of the United States Bankruptcy Code, as amended, or under any other bankruptcy
or insolvency law, or any assignments for the benefit of creditors, formal or informal moratoriums,
compositions or extensions with some or all creditors with respect to any indebtedness of such
PERSON.

Section 1.7. Intellectual Property. The term “INTELLECTUAL PROPERTY” means
all of the GUARANTOR’S right, title and interest, whether now owned or existing or hereafter
acquired or arising, in all of the following property: all domestic and foreign copyrights,
copyright registrations and copyright applications, whether or not registered or filed with any
governmental authority, all domestic and foreign trademarks, trademark registrations, trademark
applications, trade names, service marks, certification marks, logos and other source business
identifiers, whether or not registered or filed with any governmental authority, and all United
States and foreign patents, and pending and abandoned United States and foreign patent
applications, including, without limitation, the inventions and improvements described or claimed
therein, together with (i) all renewals, reissues, divisions, continuations, certificates of
reexamination, extensions and continuations-in-part of all of the foregoing, (ii) all present and
future rights of the GUARANTOR under all present and future license agreements relating to all of
the foregoing, whether the GUARANTOR is licensee or licensor thereunder, (iii) all income,
royalties, damages and payments now or hereafter due and/or payable to the GUARANTOR under all of
the foregoing or with respect thereto, including, without limitation, damages and payments for
past, present or future infringements thereof, (iv) all of the GUARANTOR’S present and future
claims, causes of action and rights to sue for past, present or future infringements of all of the
foregoing, all rights corresponding thereto throughout the world, all goodwill of the GUARANTOR in
connection with the use of, and symbolized by, any of the foregoing, and all proceeds of all of
the foregoing.

Section 1.8. Inventory. The term “INVENTORY” has the same meaning as
provided to such term in the Uniform Commercial Code — Secured Transactions, Title 9,
Commercial Law Article, Annotated Code of Maryland, as amended, together with all
of the GUARANTOR’S GOODS, merchandise, materials, raw materials, goods in process, finished goods,
work in progress, bindings or component materials, packaging and shipping materials and other
tangible or intangible personal property, now owned or hereafter acquired and held for sale or
lease or furnished or to be furnished under contracts of service or which contribute to the
finished products or the sale, promotion, storage and shipment thereof, whether located at
facilities owned or leased by the GUARANTOR, in the course of transport to or from ACCOUNT DEBTORS,
used for demonstration, placed on consignment, or held at storage locations.

Section 1.9. Laws. The term “LAWS” means all ordinances, statutes, rules,
regulations, orders, injunctions, writs or decrees of any government or political subdivision or
agency thereof, or any court or similar entity established by any thereof.

Section 1.10. Liens. The term “LIENS” means with respect to any asset owned
by a referenced PERSON: (i) any lien, claim, charge, pledge, security interest, deed of
trust, mortgage, or other encumbrance in, on or of such asset; (ii) the interest of a
vendor or a lessor under any conditional sale agreement capital lease or title retention agreement
(or any financing lease having substantially the same economic effect as any of the foregoing)
relating to such asset; and (iii) in the case of securities owned by any such PERSON, any
purchase option, call or similar right of a third party with respect to such securities.

Section 1.11. Obligations. The term “OBLIGATIONS” means the obligations of
the GUARANTOR to pay to the SECURED PARTIES: (a) all sums due to the SECURED PARTIES
pursuant to the terms of the GUARANTY; (b) all SECURED PARTY EXPENSES; (c) all
overdrafts of the GUARANTOR upon any accounts with the ADMINISTRATIVE AGENT; and (d) any
indebtedness or liability which may exist or arise as a result of any payment made by or for the
benefit of the GUARANTOR, on any of the obligations described in (a), (b) or (c) above being
avoided or set aside as a preference under Sections 547 and 550 of the United States Bankruptcy
Code, as amended, or under any state law governing insolvency or creditors’ rights.

Section 1.12. Permitted Liens. The term “PERMITTED LIENS” means:
(i) LIENS for taxes, assessments, or similar charges incurred in the ordinary course of
business that are not yet due and payable; (ii) LIENS in favor of the SECURED PARTIES;
(iii) any existing LIENS specifically described on Schedule 1.12 hereof or which are
being contested in compliance with the provisions of Section 4.5 hereof; (iv) any LIEN on
specifically allocated money or securities to secure payments under workmen’s compensation,
unemployment insurance, social security and other similar LAWS, or to secure the performance of
bids, tenders or contracts (other than for the repayment of borrowed money) or to secure statutory
obligations or appeal bonds, or to secure indemnity, performance or other similar bonds in the
ordinary course of business; (v) purchase money security interests in equipment (and
security interests in equipment securing the refinancing of INDEBTEDNESS previously secured by a
purchase money security interest therein) not to exceed in aggregate amount outstanding together
with all other secured purchase money financing of the BORROWER and of its SUBSIDIARIES at any one
time the sum of Two Million Dollars ($2,000,000.00), provided that such purchase money security
interests do not attach to any assets other than the specific item(s) of equipment acquired with
the proceeds of the loan secured by such purchase money security interests and the proceeds
thereof; (vi) LIENS of carriers, warehousemen, mechanics, materialmen and landlords
arising in the ordinary course of business for sums not overdue or sums being diligently contested
in good faith by appropriate procedures and for which adequate reserves have been set aside;
(vii) easements, rights-of-way, restrictions, encroachments and other similar charges or
encumbrances, and minor title deficiencies relating to real property owned or occupied by the
GUARANTOR, in each case not securing INDEBTEDNESS and not materially interfering with the conduct
of the business of the GUARANTOR; and (viii) subsequently arising LIENS which are
expressly approved in advance of the creation of any such LIENS by the ADMINISTRATIVE AGENT in
writing.

Section 1.13. Person. The term “PERSON” means any individual, corporation,
partnership, association, joint-stock company, trust, unincorporated organization, joint venture,
court, or government or political subdivision or agency thereof.

Section 1.14. Receivables. The term “RECEIVABLES” means all of the
ACCOUNTS, INSTRUMENTS, DOCUMENTS, GENERAL INTANGIBLES, CHATTEL PAPER, PAYMENT INTANGIBLES,
PROMISSORY NOTES, drafts, acceptances, and choses in action, of the GUARANTOR, now existing or
hereafter created or acquired, and all proceeds and products thereof, and all rights thereto,
arising from or relating to the sale, lease or license of or the providing of INVENTORY or other
assets or services by the GUARANTOR to ACCOUNT DEBTORS, and all SOFTWARE relating thereto, as well
as all other rights, contingent or non-contingent, of any kind of the GUARANTOR to receive payment,
benefit, or credit from any PERSON.

Section 1.15. Records. The term “RECORDS” means correspondence, memoranda,
tapes, discs, papers, books and other documents, or transcribed information of any type, whether
expressed in ordinary, computer or machine language.

Section 1.16. Secured Party Expenses. The term “SECURED PARTY EXPENSES”
means all reasonable out-of-pocket expenses or costs incurred by the SECURED PARTIES arising out
of, pertaining to, or in any way connected with this AGREEMENT, any of the other SECURITY DOCUMENTS
or the OBLIGATIONS, or any documents executed in connection herewith or transactions hereunder,
including without limitation: All costs or expenses required to be paid by the GUARANTOR pursuant
to this AGREEMENT or as otherwise provided for in any of the SECURITY DOCUMENTS or as required by
any other present or future agreement between the GUARANTOR and the SECURED PARTIES evidencing
and/or securing the OBLIGATIONS which are paid or advanced by the SECURED PARTIES; taxes and
insurance premium of every nature and kind of GUARANTOR paid by the SECURED PARTIES; filing,
recording, title insurance, environmental and consulting fees, audit fees, search fees and other
expenses paid or incurred by the SECURED PARTIES in connection with the transactions of the SECURED
PARTIES with the GUARANTOR; reasonable and necessary costs and expenses incurred by the SECURED
PARTIES in the collection of the RECEIVABLES (with or without the institution of legal action), to
correct any default or enforce any provision of this AGREEMENT, or in gaining possession of,
maintaining, handling, evaluating, preserving, storing, shipping, selling, preparing for sale
and/or advertising to sell the COLLATERAL or any other property of the GUARANTOR in which any
SECURED PARTY has a lien whether or not a sale is consummated; reasonable and necessary costs and
expenses of litigation incurred by the SECURED PARTIES in enforcing or defending this AGREEMENT or
any portion hereof; and reasonable and necessary attorneys’ fees and expenses incurred by the
SECURED PARTIES in obtaining advice or the services of their attorneys with respect to the
structuring, drafting, negotiating, reviewing, amending, terminating, enforcing or defending of
this AGREEMENT, or any portion hereof or any agreement or matter related hereto, whether or not
litigation is instituted; and reasonable travel expenses related to any of the foregoing.

Section 1.17. Security Documents. The term “SECURITY DOCUMENTS” means
collectively this AGREEMENT, the GUARANTY and all agreements, instruments and documents, whether
heretofore, now or hereafter executed by or on behalf of the GUARANTOR, or by any other PERSON in
connection with the OBLIGATIONS.

Section 1.18. Subsidiary. The term “SUBSIDIARY” means, with respect to any
PERSON (the “PARENT”) at any date, any corporation, limited liability company, partnership,
association or other entity the accounts of which would be consolidated with those of the PARENT in
the PARENT’S consolidated financial statements if such financial statements were prepared in
accordance with generally accepted accounting principles as of such date, as well as any other
corporation, limited liability company, partnership, association or other entity of which
securities or other ownership interests representing more than fifty percent (50%) of the equity or
more than fifty percent (50%) of the ordinary voting power or, in the case of a partnership, more
than fifty percent (50%) of the general partnership interests are, as of such date, owned,
controlled or held, or that is, as of such date, otherwise controlled, by the PARENT or one or
more subsidiaries of the PARENT or by the PARENT and one or more subsidiaries of the PARENT.
Unless otherwise specified, “SUBSIDIARY” means a SUBSIDIARY of the GUARANTOR.

ARTICLE 2

SECURITY FOR THE OBLIGATIONS

The payment, performance and satisfaction of the OBLIGATIONS, and the full, complete and
absolute performance by the GUARANTOR of each of the terms and conditions of the SECURITY DOCUMENTS
shall be secured by the following described security interests, assignments and pledges.

Section 2.1. Grant Of Security Interests. The GUARANTOR hereby assigns to
the SECURED PARTIES all of the GUARANTOR’S right, title, and interest in and to, and grants to the
SECURED PARTIES a continuing security interest in and to, all of the COLLATERAL. The GUARANTOR
further assigns, transfers, hypothecates and sets over to the SECURED PARTIES all of the
GUARANTOR’S right, title and interest in and to, and grants to the SECURED PARTIES a continuing
security interest in and to, all amounts that may be owing at any time and from time to time by the
SECURED PARTIES to the GUARANTOR in any capacity, including but not limited to any balance or share
belonging to the GUARANTOR of any deposit or other account with the SECURED PARTIES, which security
interest shall be independent of and in addition to any right of setoff which the SECURED PARTIES
may have.

Section 2.2. Proceeds And Products. The security interests of the SECURED
PARTIES provided for herein shall apply to the proceeds, including but not limited to insurance
proceeds, and the products of the COLLATERAL.

Section 2.3. Priority Of Security Interests. Each of the security interests
granted by the GUARANTOR to the SECURED PARTIES pursuant to this AGREEMENT shall be a perfected
first priority security interest in the COLLATERAL, except for PERMITTED LIENS which by operation
of law or the written consent of the ADMINISTRATIVE AGENT constitute prior encumbrances.

Section 2.4. Future Advances. The security interests granted by the
GUARANTOR to the SECURED PARTIES hereunder shall secure all current and all future advances.

ARTICLE 3

REPRESENTATIONS AND WARRANTIES

The GUARANTOR makes the representations and warranties set forth in this Article 3. The
GUARANTOR acknowledges the justifiable right of the SECURED PARTIES to rely upon these
representations and warranties.

Section 3.1. Accuracy Of Information. All information, documents, reports,
statements, financial statements, and data submitted by or on behalf of the GUARANTOR in connection
with the OBLIGATIONS, or in support thereof, are true, accurate, and complete in all material
respects as of the date made and contain no knowingly false, incomplete or misleading statements.

Section 3.2. Title To Collateral. The GUARANTOR has good and marketable
title to all of the COLLATERAL. The LIENS of the SECURED PARTIES described herein shall constitute
first and indefeasible LIENS.

Section 3.3. Existing Liens. There are no existing LIENS against any of the
assets of the GUARANTOR other than PERMITTED LIENS.

Section 3.4. Status. The GUARANTOR is validly incorporated under the LAWS
of the State of Delaware and its operations and affairs have been effectively and validly
commenced. The GUARANTOR has the power to own its properties, conduct its business and affairs,
and perform the OBLIGATIONS. The GUARANTOR’S entry into the SECURITY DOCUMENTS with the SECURED
PARTIES has been validly and effectively approved by its board of directors and shareholders as may
be required by its charter, by-laws, and applicable LAWS. All copies of the charter, by-laws, and
corporate resolutions of the GUARANTOR submitted to the SECURED PARTIES are true, accurate, and
complete and no action has been taken in diminution or abrogation thereof. The GUARANTOR has not
changed its name, been the surviving entity in a merger, or changed the location of its chief
executive office within the last five (5) years, except as is disclosed on a writing attached
hereto. The GUARANTOR does not trade under any trade or fictitious names.

Section 3.5. Valid, Binding and Enforceable. The SECURITY DOCUMENTS
executed by the GUARANTOR are the valid and binding obligations of the GUARANTOR and are fully
enforceable against the GUARANTOR in accordance with their terms.

Section 3.6. Compliance With Laws. Except as disclosed in Schedule 3.6
attached hereto, and except to the extent that any inaccuracy of any of the following statements
could not reasonably be expected to be or result in any “MATERIAL ADVERSE EVENT,” as such term is
defined in the LOAN AGREEMENT, the GUARANTOR is in compliance in all material respects with all
applicable LAWS with respect to: (a) all restrictions, specifications, or other
requirements pertaining to products that it sells or to the services it performs; (b) the
conduct of its business; (c) the use, maintenance, and operation of the real and personal
properties owned or leased by it in the conduct of its business; (d) the obtaining of all
necessary licenses and permits necessary to engage in its business; and (e) the making,
storing, handling, treating, disposing, generating, transporting, or release of hazardous
substances.

Section 3.7. Chief Place Of Business. As of the date hereof, the
GUARANTOR’S chief executive office, chief place of business, and the place where it keeps its
RECORDS concerning the COLLATERAL is      .

Section 3.8. Location Of Inventory. The INVENTORY is and shall be kept
solely at the locations set forth on Schedule 3.8 attached hereto, and shall not be moved, sold or
otherwise disposed of without prior notification to the ADMINISTRATIVE AGENT, except for sales of
INVENTORY to CUSTOMERS in the ordinary course of the GUARANTOR’S business. None of the INVENTORY
is stored with or in the possession of any bailee, warehouseman, or other similar PERSON.

ARTICLE 4

AFFIRMATIVE COVENANTS

The GUARANTOR covenants and agrees during the term of this AGREEMENT and while any OBLIGATIONS
are outstanding and unpaid to do and perform each of the acts and promises set forth in this
Article 4:

Section 4.1. Payment And Performance. All OBLIGATIONS shall be paid and
performed in full when and as due.

Section 4.2. Casualty Insurance. Until the full and complete satisfaction
of all of the OBLIGATIONS, the GUARANTOR shall maintain for all of its respective assets and
properties, whether real, personal, or mixed and including but not limited to the COLLATERAL, fire
and extended coverage casualty insurance in amounts satisfactory to the ADMINISTRATIVE AGENT in the
exercise of its reasonable discretion and sufficient to prevent any co-insurance liability (which
amount shall be the full insurable value of the assets and properties insured unless the
ADMINISTRATIVE AGENT in writing agree to a lesser amount), naming the ADMINISTRATIVE AGENT as sole
loss payee with respect to the COLLATERAL. The GUARANTOR shall submit to the ADMINISTRATIVE AGENT
satisfactory evidence of the originals of the casualty insurance policies and of the payment of the
premiums due with respect to the policies. The casualty insurance policies shall be endorsed so as
to make them noncancellable unless thirty (30) days prior written notice of cancellation is
provided to the ADMINISTRATIVE AGENT.

Section 4.3. Collection Of Accounts; Sale Of Inventory. The GUARANTOR shall
collect its RECEIVABLES and sell its INVENTORY only in the ordinary course of business, unless
written permission to the contrary is obtained from the ADMINISTRATIVE AGENT.

Section 4.4. Notice Of Change Of Business Location. The GUARANTOR shall
notify the ADMINISTRATIVE AGENT thirty (30) days in advance of: (a) any change in the
location of its existing offices or place of business; (b) the establishment of any new,
or the discontinuation of any existing, place of business; and (c) any change in or
addition to the locations at which the COLLATERAL is kept.

Section 4.5. Payment Of Taxes. The GUARANTOR shall pay or cause to be paid
when and as due all taxes, assessments and charges or levies imposed upon it or on any of its
property or which it is required to withhold and pay over to the taxing authority or which it must
pay on its income, except where contested in good faith, by appropriate proceedings and at its own
cost and expense; provided, however, that the GUARANTOR shall not be deemed to be contesting in
good faith by appropriate proceedings unless: (a) such proceedings operate to prevent
the taxing authority from attempting to collect the taxes, assessments or charges; (b)
the COLLATERAL is not subject to sale, forfeiture or loss during such proceedings; (c)
the GUARANTOR’S contest does not subject the SECURED PARTIES to any claim by the taxing authority
or any other person; (d) the GUARANTOR establishes appropriate reserves in accordance
with generally accepted accounting principles for the payment of all taxes, assessments, charges,
levies, legal fees, court costs and other expenses for which the GUARANTOR would be liable if it is
unsuccessful in its contest; (e) the GUARANTOR prosecutes the contest continuously to its
final conclusion; and (f) at the conclusion of the proceedings, the GUARANTOR promptly
pays all amounts determined to be payable, including but not limited to all taxes, assessments,
charges, levies, legal fees and court costs.

Section 4.6. Inspections Of Records. The ADMINISTRATIVE AGENT shall have
the right to call at the GUARANTOR’S places of business at intervals to be determined by the
ADMINISTRATIVE AGENT, before or after an EVENT OF DEFAULT, and without hindrance or delay to audit,
inspect, verify, check and make extracts or photocopies from the RECORDS of the GUARANTOR and other
data relating to the COLLATERAL or any of the GUARANTOR’S indebtedness, and the GUARANTOR shall
reimburse the ADMINISTRATIVE AGENT for the reasonable costs of all of such audits, inspections,
verifications, copying, and extractions; provided, however, that unless an EVENT OF DEFAULT shall
have occurred and be continuing, the GUARANTOR shall have no obligation to pay for more than one
audit or inspection in any single twelve-month period.

Section 4.7. Further Assurances And Power Of Attorney. The GUARANTOR shall
execute from time to time such other and further documents as the ADMINISTRATIVE AGENT reasonably
determines to be necessary to perfect, confirm, establish, reestablish, continue, or complete the
security interests and liens in the COLLATERAL. If the GUARANTOR fails to execute any such
document within five (5) business days of being requested to do so by the SECURED PARTIES, the
GUARANTOR hereby appoints the ADMINISTRATIVE AGENT or any officer of the ADMINISTRATIVE AGENT as
the GUARANTOR’S attorney in fact for purposes of executing such documents in the GUARANTOR’S name,
place and stead, which power of attorney shall be considered as coupled with an interest and
irrevocable.

Section 4.8. Advancements. If the GUARANTOR fails to perform any of the
affirmative covenants contained in this Article or to protect or preserve the COLLATERAL or the
status and priority of the security interest of the SECURED PARTIES in the COLLATERAL, and such
failure shall remain uncured for three (3) business days after the ADMINISTRATIVE AGENT shall have
notified the GUARANTOR thereof, the SECURED PARTIES may make advances to perform the same on behalf
of the GUARANTOR or to protect or preserve the COLLATERAL or the status and priority of the
security interest of the SECURED PARTIES in the COLLATERAL, and all sums so advanced shall
immediately upon advance become secured by the security interest created by this AGREEMENT. The
contrary notwithstanding, the authorization contained in this Section shall impose no duty or
obligation on the SECURED PARTIES to perform any action or make any advancement on behalf of the
GUARANTOR and is for the sole benefit and protection of the SECURED PARTIES.

Section 4.9. Documentation Of Collateral. The GUARANTOR, upon the
reasonable request of the ADMINISTRATIVE AGENT, shall provide the ADMINISTRATIVE AGENT from time to
time with: (a) written statements or schedules identifying and describing the
COLLATERAL, and all additions, substitutions, and replacements thereof, in such detail as the
ADMINISTRATIVE AGENT may reasonably require; (b) copies of CUSTOMERS’ invoices or billing
statements; (c) evidence of shipment or delivery of goods or merchandise to or
performance of services for CUSTOMERS; and (d) such other schedules and information as
the ADMINISTRATIVE AGENT reasonably may require. The items to be provided under this Section shall
be in form satisfactory to the ADMINISTRATIVE AGENT in its reasonable discretion and are to be
executed and delivered to the ADMINISTRATIVE AGENT from time to time solely for the ADMINISTRATIVE
AGENT’S convenience in maintaining RECORDS of the COLLATERAL. The GUARANTOR’S failure to give any
of such items to the ADMINISTRATIVE AGENT shall not affect, terminate, modify or otherwise limit
the SECURED PARTIES’ security interest in the COLLATERAL. The ADMINISTRATIVE AGENT shall have the
right, at any time and from time to time, to verify the GUARANTOR’S RECEIVABLES, including during
any continuing EVENT OF DEFAULT obtaining verification of the RECEIVABLES directly from CUSTOMERS.

Section 4.10. Compliance With Laws. The GUARANTOR shall comply in all
material respects with all applicable LAWS with respect to: (a) all restrictions,
specifications, or other requirements pertaining to products that it sells or to the services it
performs; (b) the conduct of its business; (c) the use, maintenance, and
operation of the real and personal properties owned or leased by it in the conduct of its business;
(d) the obtaining of all necessary licenses and permits necessary to engage in its
business; and (e) the making, storing, handling, treating, disposing, generating,
transporting, or release of hazardous substances.

ARTICLE 5

NEGATIVE COVENANTS

The GUARANTOR covenants and agrees while any OBLIGATIONS are outstanding and unpaid not to do
or to permit to be done or to occur any of the acts or happenings set forth in this Article 5
without the prior written authorization of the SECURED PARTIES.

Section 5.1. No Change Of Name, Merger, Etc. The GUARANTOR shall not change
its name or enter into any merger, consolidation, reorganization or recapitalization.

Section 5.2. No Encumbrance Of Assets. The GUARANTOR shall not mortgage,
pledge, grant or permit to exist any LIEN upon any of its assets of any kind, now owned or
hereafter acquired except liens granted to secured the SECURED PARTIES and PERMITTED LIENS.

Section 5.3. No Sale-Leaseback Transactions. The GUARANTOR shall not enter
into any sale-leaseback transaction.

ARTICLE 6

RIGHTS AND REMEDIES ON THE OCCURRENCE

OF AN EVENT OF DEFAULT

Section 6.1. Specific Rights And Remedies Of Secured Parties. In addition
to all other rights and remedies provided by LAW and the SECURITY DOCUMENTS, the SECURED PARTIES,
upon the occurrence of any EVENT OF DEFAULT, may: (a) accelerate and call due any or all
of the OBLIGATIONS; (b) foreclose or enforce all or any security interests, liens, or
pledges created by this AGREEMENT or any other SECURITY DOCUMENT; (c) seek specific
performance or injunctive relief to enforce performance of the undertakings, duties, and agreements
provided in the SECURITY DOCUMENTS, whether or not a remedy at law exists or is adequate;
(d) exercise any rights of a secured creditor under the Uniform Commercial Code,
as adopted and amended in Maryland, including the right to take possession of the COLLATERAL
without the use of judicial process or hearing of any kind and the right to require the GUARANTOR
to assemble the COLLATERAL at such place as the SECURED PARTIES may specify; and (e)
set-off any amounts in any account or represented by any certificate with the SECURED PARTIES in
the name of the GUARANTOR or in which the GUARANTOR has an interest.

Section 6.2. Collection Of Receivables By Secured Parties. The SECURED
PARTIES, following the occurrence of an EVENT OF DEFAULT, may terminate the GUARANTOR’S authority
to collect the RECEIVABLES. Upon a termination of the GUARANTOR’S authority, the ADMINISTRATIVE
AGENT shall have the right to send notices of assignment or notices of the SECURED PARTIES’
security interests to any and all CUSTOMERS or any third party holding or otherwise concerned with
any of the COLLATERAL, and thereafter the ADMINISTRATIVE AGENT shall have the sole right to collect
the RECEIVABLES and to take possession of the COLLATERAL and RECORDS relating thereto. All of the
ADMINISTRATIVE AGENT’S collection expenses shall be charged to the GUARANTOR’S account and added to
the OBLIGATIONS. If the ADMINISTRATIVE AGENT is collecting the RECEIVABLES as above provided, the
ADMINISTRATIVE AGENT shall have the right to receive, indorse, assign and deliver in the
ADMINISTRATIVE AGENT’S name or the GUARANTOR’S name any and all checks, drafts and other
instruments for the payment of money relating to the RECEIVABLES, and the GUARANTOR hereby waives
notice of presentment, protest and non-payment of any instrument so endorsed. If the
ADMINISTRATIVE AGENT is collecting the RECEIVABLES directly as above provided, the GUARANTOR hereby
constitutes the ADMINISTRATIVE AGENT or the ADMINISTRATIVE AGENT’S designees as the GUARANTOR’S
attorney-in-fact with power with respect to the RECEIVABLES: (a) to indorse the
GUARANTOR’S name upon all notes, acceptances, checks, drafts, money orders or other evidences of
payment of COLLATERAL that may come into the ADMINISTRATIVE AGENT’S possession; (b) to
sign the GUARANTOR’S name on any invoices relating to any of the RECEIVABLES, drafts against
CUSTOMERS, assignments and verifications of RECEIVABLES and notices to CUSTOMERS; (c) to
send verifications of RECEIVABLES to any CUSTOMER; (d) to notify the Post Office to
change the address for delivery of mail addressed to the GUARANTOR to such address as the
ADMINISTRATIVE AGENT may designate; (e) to receive, open, and dispose of all mail
addressed to the GUARANTOR; and (f) to do all other acts and things necessary, proper, or
convenient to carry out the terms and conditions and purposes and intent of this AGREEMENT. All
acts of such attorney or designee are hereby ratified and approved, and such attorney or designee
shall not be liable for any acts of omission or commission, nor for any error of judgment or
mistake of fact or law in accordance with this AGREEMENT, with the exception of acts arising from
actual fraud or gross and wanton negligence. The power of attorney hereby granted, being coupled
with an interest, is irrevocable while any of the OBLIGATIONS remain unpaid. The ADMINISTRATIVE
AGENT, without notice to or consent from the GUARANTOR, may sue upon or otherwise collect, extend
the time of payment of or compromise or settle for cash, credit or otherwise upon any terms, any of
the RECEIVABLES or any securities, instruments or insurances applicable thereto or release the
obligor thereon. The ADMINISTRATIVE AGENT is authorized and empowered to accept the return of the
goods represented by any of the RECEIVABLES, without notice to or consent by the GUARANTOR, all
without discharging or in any way affecting the GUARANTOR’S liability under the SECURITY DOCUMENTS.
The ADMINISTRATIVE AGENT does not, by anything herein or in any assignment or otherwise, assume
any of the GUARANTOR’S obligations under any contract or agreement assigned to the SECURED PARTIES,
and the ADMINISTRATIVE AGENT shall not be responsible in any way for the performance by the
GUARANTOR of any of the terms and conditions thereof.

Section 6.3. Remedies Cumulative. The rights and remedies provided in this
AGREEMENT and in the other SECURITY DOCUMENTS or otherwise under applicable LAWS shall be
cumulative and the exercise of any particular right or remedy shall not preclude the exercise of
any other rights or remedies in addition to, or as an alternative of, such right or remedy.

Section 6.4. Obligations Are Unconditional. The payment and performance of
the OBLIGATIONS shall be the absolute and unconditional duty and obligation of the GUARANTOR, and
shall be independent of any defense or any rights of setoff, recoupment or counterclaim which the
GUARANTOR might otherwise have against the SECURED PARTIES, and the GUARANTOR shall pay absolutely
all payments required to be made on the OBLIGATIONS, free of any deductions and without abatement,
diminution or setoff other than those herein expressly provided.

ARTICLE 7

GENERAL CONDITIONS AND TERMS

Section 7.1. Incorporation. The terms and conditions of the SECURITY
DOCUMENTS are incorporated by reference and made a part hereof, as if fully set forth herein.

Section 7.2. Waivers. In accordance with the provisions of the LOAN
AGREEMENT, the SECURED PARTIES at any time or from time to time may waive all or any rights under
this AGREEMENT or any other SECURITY DOCUMENT, but any waiver or indulgence by the SECURED PARTIES
at any time or from time to time shall not constitute a future waiver of performance or exact
performance by the GUARANTOR.

Section 7.3. Continuing Obligation Of Guarantor. The terms, conditions, and
covenants set forth herein and in the SECURITY DOCUMENTS shall constitute a continuing obligation
of the GUARANTOR during the course of the transactions contemplated herein. The OBLIGATIONS of the
GUARANTOR under this AGREEMENT shall remain in effect so long as any OBLIGATION is outstanding,
unpaid or unsatisfied between the GUARANTOR and the SECURED PARTIES.

Section 7.4. Binding Obligation. This AGREEMENT shall be binding upon the
parties and their permitted successors and assigns.

Section 7.5. Final Agreement. This AGREEMENT and the SECURITY DOCUMENTS
contain the final agreement and understanding of the parties, and any terms and conditions not set
forth in this AGREEMENT or the SECURITY DOCUMENTS are not a part of this AGREEMENT and the
understanding of the parties hereto.

Section 7.6. Amendment. This AGREEMENT may be amended or altered only in
writing signed by the party to be bound by the change or alteration.

Section 7.7. Time. Time is of the essence of this AGREEMENT.

Section 7.8. Choice Of Law. The laws of the State of Maryland (excluding,
however, conflict of law principles) shall govern and be applied to determine all issues relating
to this AGREEMENT and the rights and obligations of the parties hereto, including the validity,
construction, interpretation, and enforceability of this AGREEMENT and its various provisions and
the consequences and legal effect of all transactions and events which resulted in the execution of
this AGREEMENT or which occurred or were to occur as a direct or indirect result of this AGREEMENT
having been executed.

Section 7.9. Consent To Jurisdiction; Agreement As To Venue. The GUARANTOR
irrevocably consents to the non-exclusive jurisdiction of the courts of the State of Maryland and
of the United States District Court For The District Of Maryland, if a basis for federal
jurisdiction exists. The GUARANTOR agrees that venue shall be proper in any circuit court of the
State of Maryland selected by the SECURED PARTIES or in the United States District Court For The
District Of Maryland if a basis for federal jurisdiction exists and waives any right to object to
the maintenance of a suit in any of the state or federal courts of the State of Maryland on the
basis of improper venue or of inconvenience of forum.

Section 7.10. Actions Against Secured Parties. Any action brought by the
GUARANTOR against the SECURED PARTIES which is based, directly or indirectly, on this AGREEMENT or
any matter in or related to this AGREEMENT or any of the OBLIGATIONS, shall be brought only in the
courts of the State of Maryland. The GUARANTOR may not file a counterclaim against the SECURED
PARTIES in a suit brought by the SECURED PARTIES against the GUARANTOR in a state other than the
State of Maryland unless under the rules of procedure of the court in which the SECURED PARTIES
brought the action or the counterclaim is mandatory, and not merely permissive, and will be
considered waived unless filed as a counterclaim in the action instituted by the SECURED PARTIES.
The GUARANTOR agrees that any forum other than the State of Maryland is an inconvenient forum and
that a suit brought by the GUARANTOR against the SECURED PARTIES in a court of any state other than
the State of Maryland should be forthwith dismissed or transferred to a court located in the State
of Maryland by that court.

Section 7.11. Number, Gender, And Captions. As used herein, the singular
includes the plural and the plural includes the singular. The use of any gender applies to all
genders. The captions contained herein are for purposes of convenience only and are not a part of
this AGREEMENT.

Section 7.12. Photocopies Sufficient. A carbon, photographic, photocopy or
other reproduction of a security agreement or financing statement shall be sufficient as a
financing statement.

Section 7.13. Notices. Any notice required or permitted by or in connection
with this AGREEMENT shall be in writing and shall be made by facsimile (confirmed on the date the
facsimile is sent by one of the other methods of giving notice provided for in this Section) or by
hand delivery, by Federal Express, or other similar overnight delivery service, or by certified
mail, unrestricted delivery, return receipt requested, postage prepaid, addressed to the SECURED
PARTIES or the GUARANTOR at the appropriate address set forth below or to such other address as may
be hereafter specified by written notice by the SECURED PARTIES or the GUARANTOR. Notice shall be
considered given as of the date of the facsimile or the hand delivery, one (1) calendar day after
delivery to Federal Express or similar overnight delivery service, or three (3) calendar days after
the date of mailing, independent of the date of actual delivery or whether delivery is ever in fact
made, as the case may be, provided the giver of notice can establish the fact that notice was given
as provided herein. If notice is tendered pursuant to the provisions of this Section and is
refused by the intended recipient thereof, the notice, nevertheless, shall be considered to have
been given and shall be effective as of the date herein provided.

If to the SECURED PARTIES:

MANUFACTURERS AND TRADERS TRUST COMPANY, Individually And

In Its Capacity As Administrative Agent For Various Other Lenders

25 S. Charles Street, 12th Floor

Baltimore, Maryland 21201

Attn: Hugh E. Giorgio, Vice President

Facsimile: (410) 244-4447

If to the GUARANTOR:

[     ]

c/o Martek Biosciences Corporation

6480 Dobbin Road

Columbia, Maryland 21045

Attn.: George P. Barker, Esquire

Fax No.: (410) 740-2985

With A Courtesy Copy To:

HOGAN & HARTSON, L.L.P.

111 South Calvert Street, Suite 1600

Baltimore, Maryland 21202

Attn.: Kevin G. Gralley, Esquire

Fax No.: (410) 539-6981

The failure of the SECURED PARTIES to send the above courtesy copy shall not impair the
effectiveness of notice given to the GUARANTOR in the manner provided herein.

Section 7.14. Effective Date. This AGREEMENT shall be effective as of the
date first above written, independent of the date of execution or delivery hereof.

Section 7.15. Waiver Of Trial By Jury. Each party to this AGREEMENT agrees
that any suit, action, or proceeding, whether claim or counterclaim, brought or instituted by
either party hereto or any successor or assign of any party on or with respect to this AGREEMENT or
any other SECURITY DOCUMENT or which in any way relates, directly or indirectly, to the OBLIGATIONS
or any event, transaction, or occurrence arising out of or in any way connected with the
OBLIGATIONS, or the dealings of the parties with respect thereto, shall be tried only by a court
and not by a jury. EACH PARTY HEREBY EXPRESSLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY SUCH
SUIT, ACTION, OR PROCEEDING. The GUARANTOR acknowledges and agrees that this Section is a specific
and material aspect of this AGREEMENT and the understandings of the parties.

IN WITNESS WHEREOF, the GUARANTOR has duly executed this AGREEMENT under seal as of the date
first above written.

	 	 	 	 	 
	WITNESS/ATTEST:

	 	GUARANTOR:
	 	

	 
	 	 	 	 
	
 
	 	[
	 	]
	
 
	 	 
	 	 
	 
	 	 	 	 
	
 
	 	By:
	 	(SEAL)
	 

	 	 
	 	

	
 
	 	Name:
	 	

	
 
	 	 
	 	

	
 
	 	Title:
	 	

	
 
	 	 
	 	

	 
	 	 	 	 
	
 
	 	ADMINISTRATIVE AGENT:
	 	

MANUFACTURERS AND TRADERS TRUST COMPANY,

AS ADMINISTRATIVE AGENT

	 	 	 	 	 
	By:

	 	 	 	(SEAL)
	
 
	 	 
	 	

	
 
	 	Name:
	 	

	
 
	 	Title:

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