Document:

Exhibit 10.95

 

 

 

 

 

 

 

 

 

PURCHASE AND SALE AGREEMENT

 

 

BY AND AMONG

 

 

SALISBURY PARTNERS, LLC,

GLYCOTECH, INC.

 

AND

 

AMYRIS, INC.

 

 

 

 

 

NOVEMBER 10, 2016

 

 

 

     

     

    

SCHEDULES

 

 

	1(a)	 	Description of Real Property
	 	 	 
	1(b)	 	Manufacturing Equipment
	 	 	 
	1(c)	 	Fixtures, Machinery and Equipment
	 	 	 
	1(e)	 	Inventory and Raw Materials
	 	 	 
	3	 	Employees
	 	 	 
	5(e)	 	Contracts to be Assumed by Purchaser
	 	 	 
	5(m)	 	Off-site Hazardous Material treatment facilities
	 	 	 
	6(k)	 	Environmental Testing

 

 

 

 

 

 

 

 

 

     

     

    

PURCHASE AND SALE AGREEMENT

 

 

THIS PURCHASE AND SALE AGREEMENT (the
“Agreement”) is entered into as of November 10, 2016 (the “Effective Date”), by and among SALISBURY
PARTNERS, LLC, a North Carolina limited liability company (“Salisbury”), GLYCOTECH, INC., a North Carolina
corporation, (“Glycotech”), and AMYRIS, INC., a Delaware corporation qualified to transact business in North
Carolina (“Purchaser”).

 

W I T N E S S E T H:

 

WHEREAS, Salisbury owns a manufacturing
facility (“Facility”) located on approximately 23.5 acres at 2271 Andrew Jackson Highway, Leland, Brunswick County,
North Carolina and more particularly described on Schedule 1(a) attached hereto (“Real Property”) and owns certain
personal property used in the operation of the Facility; and

 

WHEREAS, Glycotech occupies and
operates the Facility under the terms of a lease agreement with Salisbury (“Glycotech Lease”) and owns certain personal
property used in the operation of the Facility; and

 

WHEREAS, Glycotech and Purchaser are
parties to that certain Production Services Agreement dated as of February 1, 2011 (“PSA”), pursuant to which Glycotech
provides services to Purchaser at the Facility; and

 

WHEREAS, Salisbury desires to transfer,
sell and convey to Purchaser, and Purchaser desires to purchase from Salisbury, the Real Property and certain personal property
used in the operation of the Facility; Glycotech desires to transfer, sell and convey to Purchaser, and Purchaser desires to purchase
from Glycotech, certain personal property used in the operation of the Facility; and the parties desire to terminate the Glycotech
Lease and the PSA, all upon the terms and conditions set forth herein.

 

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

 

1.           
PURCHASE AND SALE OF ASSETS. Subject to and in accordance with the terms and provisions hereof, each of
Salisbury and Glycotech agrees to sell, transfer, assign, and convey to Purchaser, and Purchaser agrees to purchase all of Salisbury’s
and Glycotech’s right, title, and interest in and to the Real Property, furniture, fixtures, equipment, and inventory, raw
materials and supplies, and other tangible assets located at or used in connection with the Facility, including, without limitation,
the following:

 

(a)         
The Real Property, the buildings and improvements located thereon, and all tenements, hereditaments, rights, privileges,
interests, easements, and
appurtenances pertaining thereto (provided however it is acknowledged that Glycotech is excluded from this Section 1(a));

 

     

     

    

(b)         
All manufacturing equipment, and all related equipment spare parts, tools, and appurtenances located on the Real Property,
including the equipment listed on Schedule 1(b);

 

(c)         
All Facility fixtures, machinery, and equipment, including, but not limited to, shelving, counters, work stations, and
other personal property used for running the business conducted at the Facility, including the equipment listed on Schedule
1(c);

 

(d)         
Facility operating supplies, including cleaning and janitorial supplies;

 

(e)         
Inventory and raw materials, including the inventory and raw materials listed on Schedule 1(e);

 

(f)          
Permits, licenses, and governmental approvals with respect to the operation of the Facility, to the extent transferable;

 

(g)         
The contracts listed on Schedule 5(e); and

 

(h)         
Records in Salisbury’s or Glycotech’s possession regarding the operation and maintenance of the Facility,
including, without limitation, any applicable warranties, service manuals or other documents pertaining to the Assets, and records
dealing with the employees at the Facility to be retained by Purchaser.

 

The property described in (a) through (h) is hereinafter referred
to collectively as the “Assets.” Each of Salisbury and Glycotech, as the case may be, shall sell, transfer, assign,
and convey the Assets to Purchaser free and clear of any and all liens, pledges, mortgages, security interests, charges, encumbrances,
assessments (pending or confirmed), covenants, claims, restrictions, rights, options, conditional sale or other title retention
agreement or financing leases of any kind or nature (collectively, “Lien” or “Liens”). Notwithstanding
anything in this Agreement to the contrary, the Assets shall not include any underground storage tanks, known to Salisbury, which
Salisbury has not disclosed to the Purchaser in writing prior the Effective Date.

 

Purchaser shall not assume or have any responsibility or liability
for, and Salisbury and Glycotech shall retain, be responsible and liable for, and perform and discharge any liability or obligation
(i) arising out of or relating to the ownership or operation of the Real Property, the Assets or the Facility prior to the Closing,
(ii) arising or existing prior to the Closing under any contract or agreement relating to the Real Property, the Assets or the
operation of the Facility, including with respect to any breach or noncompliance thereof prior to the Closing, (iii) arising out
of the failure of Salisbury or Glycotech and their affiliates to comply with any laws, rules and regulations, and (iv)
based upon Salisbury’s or Glycotech’s acts or omissions prior to or after the Closing (collectively, “Excluded
Liabilities”). For clarity, the parties acknowledge and agree that Purchaser owns all right, title and interest in and to
the processes, procedures, instructions, formulations, techniques and similar matters related to the development, production or
other activities under the PSA, and all intellectual property relating thereto, including all inventions, trade secrets, know-how
and copyrights.

 

    	 	2	 

     

    

2.           
PURCHASE PRICE. The consideration to be paid for the Assets (subject to adjustments as set forth herein)
shall be Four Million Three Hundred Fifty Thousand Dollars ($4,350,000.00) (“Purchase Price”). The Purchase Price shall
be payable as follows:

 

(a)         
Subject to Section 12.13, a deposit of $100,000 (“Deposit”) shall be paid to Salisbury’s counsel (“Escrow
Agent”) within three (3) business days after the date of this Agreement. The Deposit shall be applicable to the Purchase
Price, but shall be non-refundable to Purchaser except in the event of (i) a breach of this Agreement by Salisbury or Glycotech
or (ii) the failure of a closing condition to be satisfied in accordance with the terms of this Agreement unless such failure is
caused by Purchaser’s breach hereof.

 

(b)         
$350,000, as a credit for the remaining Deposit Balance (as such term is defined in the PSA) owed to Purchaser in accordance
with Section 6.1(a) of the PSA.

 

(c)         
$500,000 to be paid in equal monthly installments of $100,000, with the first such payment to be made by transfer of
the Deposit from Escrow Agent to Salisbury on the date the transactions contemplated hereby are consummated (“Closing”),
and the four remaining payments to be made by Purchaser on the same day of the following four successive months. Any payment under
this Section 2(c) shall be subject to a late fee of 5% if delinquent by more than five (5) days.

 

(d)         
$3,500,000 to be evidenced by a purchase money promissory note (the “Purchase Money Note”) bearing interest
at the rate of five percent (5%) per annum, with a term of thirteen (13) years, and payable in level monthly payments of principal
and interest in an amount of $30,557.09, with the first such monthly payment to be due on the first day of the month following
the month in which Closing occurs, and continuing on the first day of each successive month thereafter. The Purchase Money Note
shall provide for a late fee of 5% for any payments delinquent more than five (5) days. The Purchase Money Note shall be secured
by a purchase money deed of trust encumbering the Real Property, and by a security interest in the Assets comprising personal property.

 

3.           
EMPLOYEES. Glycotech’s employees at the Facility are listed on Schedule 3, together with
each employee’s pay rate, date of hire, and job description. Glycotech agrees that Purchaser may conduct job interviews with,
and make job offers to, Glycotech employees prior to the Closing as Purchaser may determine on an
employee-by-employee basis; however, Purchaser has no obligation to interview, offer to hire, or hire any Glycotech employees.
Prior to closing, Amyris will inform Glycotech reasonably in advance of closing of those employees Amyris intends to extend an
offer of employment to, so that Glycotech may communicate with those employees Purchaser does not intend to extend an offer of
employment to. Glycotech remains solely responsible for the compensation, benefits, paid time off and, if any, severance pay of
its employees prior to closing and of employees not hired by Purchaser, and any severance benefits offered or provided by Glycotech
to such employees will not be payable or reimbursable by Purchaser under the PSA or otherwise.

 

    	 	3	 

     

    

4.           
RIGHT OF FIRST REFUSAL AGREEMENT. Salisbury and Purchaser agree to modify the existing right of first
refusal agreement dated as of January 3, 2011, and amended as of February 11, 2014 (as previously amended, “ROFR Agreement”)
between Salisbury and Purchaser with respect to the parcels of real property owned by Salisbury adjacent to the Real Property comprising
approximately 47.04 acres (“Adjacent Parcels”) such that a right of first refusal with respect to the Adjacent Parcels
shall be an appurtenant right running with the ownership of the Real Property.

 

5.           
REPRESENTATIONS AND WARRANTIES. Each of Salisbury and Glycotech, as applicable, does hereby warrant, represent,
and agree as follows:

 

(a)         
All information and documentation heretofore furnished and made available to Purchaser by Salisbury or Glycotech with
reference to the Assets, the Real Property and the operation of the Facility are true, accurate, and complete;

 

(b)         
Each of Salisbury and Glycotech, as applicable, holds good and marketable title to the Assets, including the Real Property,
free and clear of all Liens other than those approved by Purchaser in writing prior to or at Closing and the following (the “Permitted
Exceptions”):

 

(i)           
Real estate and personal property taxes for the year of Closing not yet due and payable, which shall be prorated to
the date of Closing; and

 

(ii)         
Unviolated easements and restrictions of record and zoning and other land use controls imposed by a public authority,
provided none of the foregoing prohibits or interferes with Purchaser’s intended use of the property as a manufacturing facility;

 

(c)         
The inventory and raw materials are in good and merchantable condition;

 

(d)         
There are no defects that would materially adversely affect the Real Property, the Assets, or the continued operation
of the Facility;

 

    	 	4	 

     

    

(e)         
Except for the contracts listed on Schedule 5(e) which will be assigned to and assumed by the Purchaser, there
are no service contracts, management agreements, or other agreements that are in force and will survive the Closing and that relate
to the operation, management, or maintenance of the Assets, the Facility, or the Real Property;

 

(f)          
Each of Salisbury and Glycotech has no knowledge, nor has received any notice of, any actual or threatened action, litigation,
or proceeding (including, but not limited to, condemnation) by any organization, person, individual, or governmental agency against
either Salisbury, Glycotech, the Assets, the Facility, or the Real Property, or with respect thereto, including violations or alleged
violations of any Environmental Laws (as hereinafter defined) nor does Salisbury or Glycotech know of any basis for any such action;

 

(g)         
To Salisbury or Glycotech’s knowledge, there are no assessments that have been made against the Assets or the
Real Property that are unpaid (except ad valorem taxes for the current year), whether or not they have become Liens, and if, at
the time of Closing, the Assets or the Real Property or any part thereof shall be or shall have been affected by any assessment
or assessments that are or may become payable in installments, of which the first installment is then a Lien, or has been paid,
then for the purposes of this Agreement, all of the unpaid installments of any such assessment, including those which are to become
due and payable after the Closing, shall be paid by Salisbury or Glycotech without any reimbursement obligation of Purchaser;

 

(h)         
To Salisbury’s or Glycotech’s knowledge, there are no violations of law, municipal or county ordinances,
or other legal requirements with respect to the Assets, the Real Property, or the employees working at the Facility, including
violations of Environmental Laws except as described in subsection (j) below, and the buildings, structures and improvements on
the Real Property comply with all applicable legal requirements with respect to the use, occupancy, and construction thereof; and
Salisbury or Glycotech has received no notice of violations, or alleged violations, of such legal requirements;

 

(i)           
To Salisbury’s or Glycotech’s knowledge, there are no actions by any adjacent landowner or any natural or
known artificial conditions upon the Real Property that would prevent, limit, impede, or render more costly the operation of the
Facility. Further, that there is no significant adverse factor or condition relating to the Real Property or the operation of the
Facility that has not been specifically disclosed in writing by Salisbury or Glycotech to Purchaser, and Salisbury or Glycotech
knows of no fact or condition of any kind or character whatsoever that would adversely affect the operation of the Facility. Salisbury
or Glycotech does not know of any proposals to change the location, width, or grade of access roads to the Real Property or adjoining
streets;

 

    	 	5	 

     

    

(j)           
Except as disclosed in the Access and Indemnity Agreement dated February 26, 2009 between Salisbury and Akzo Nobel SPG
LLC (the “Akzo Nobel Agreement”), neither the Real Property nor the Assets, nor Salisbury or Glycotech (as to any part
of the Real Property or the Assets) is in violation of or subject to any existing, pending, or threatened investigation or inquiry
by any governmental authority or to any remedial obligations under any applicable laws pertaining to health or the environment
(such laws as they now exist or are hereafter enacted and/or amended are herein sometimes collectively called “Environmental
Laws”), including, without limitation, the Comprehensive Environmental Response, Compensation, and Liability Act of 1980,
as amended by the Superfund Amendments and Reauthorization Act of 1986 (as amended, hereinafter called “CERCLA”), the
Resource Conservation and Recovery Act of 1976, as amended by the Used Oil Recycling Act of 1980, the Solid Waste Disposal Act
Amendments of 1980, and the Hazardous and Solid Waste Amendments of 1984 (as amended, hereinafter called “RCRA”), all
applicable federal, state, and local statutes and any and all regulations, rules, and ordinances promulgated pursuant thereto,
as each of said laws and regulations may be amended from time to time. Salisbury has delivered to the Purchaser a true, correct
and complete copy of the Akzo Nobel Agreement. There have been no releases of any Hazardous Materials at, on or under the Real
Property during Salisbury’s ownership and operation thereof or, to Salisbury’s and Glycotech’s knowledge, prior
thereto except as described in the Akzo Nobel Agreement. “Hazardous Materials” shall mean any material or substance
which is or will foreseeably be regulated by any governmental body including without limitation any material or substance which
is defined as “hazardous material”, “hazardous waste”, “hazardous substance”, “toxic
substance”, “contaminant” or similar term under any Environmental Laws;

 

(k)         
Section 6(d) sets forth each of the permits held by Salisbury and Glycotech for the ownership, lease, operation or use
of the Facility and Assets. Salisbury and Glycotech are in compliance with each such permit, each such permit is in full force
and effect, and neither Salisbury nor Glycotech has received any notice or written communication regarding any adverse change in
the status or terms or conditions of any such permit. To Salisbury’s and Glycotech’s knowledge, there is no condition,
event or circumstance that could reasonably be expected to prevent or impede the transferability of such permits;

 

(l)           
To Salisbury’s and Glycotech’s knowledge, there are no unregistered or unlicensed underground storage tanks
at, on or under the Real Property;

 

(m)        
Schedule 5(m) contains a complete and accurate list of all off-site Hazardous Material treatment, storage or
disposal facilities or locations currently or formerly used by the Salisbury or Glycotech, and, to Salisbury’s and Glycotech’s
knowledge, none of these facilities or locations has been placed or proposed for placement on the National Priorities List, under
CERCLA, or any similar state list, and neither Salisbury nor Glycotech has received any notice regarding potential liabilities
with respect to any such off-site Hazardous Materials treatment, storage or disposal facilities or locations ever used by Salisbury
or Glycotech;

 

    	 	6	 

     

    

(n)         
neither Salisbury or Glycotech, nor the Real Property or Assets, is, nor, to Salisbury’s and Glycotech’s
knowledge, any former owner or operator of the Real Property, is subject to any outstanding consent decree, compliance order, settlement
agreement or administrative order under any Environmental Laws, except as described in the Akzo Nobel Agreement; neither Salisbury
nor Glycotech is a party to any contracts with third parties for the assessment and/or remediation of environmental conditions
at the Real Property, except the Akzo Nobel Agreement;

 

(o)         
There are no parties in possession of all or any portion of the Real Property other than Glycotech under the Glycotech
Lease;

 

(p)         
Salisbury is a limited liability company duly organized, validly existing, and in good standing under the laws of the
State of North Carolina, has full power and authority to own and operate its properties and assets in connection with the business
of the Facility, and has full power and authority to enter into this Agreement and to assume and perform all of its obligations
hereunder. The execution and delivery of this Agreement and the closing documents required under Section 9, performance by Salisbury
of its obligations hereunder and thereunder, and the consummation of the transactions contemplated hereby have been duly and validly
authorized by all limited liability company and other action required under applicable law, Salisbury’s operating agreement,
or otherwise. This Agreement constitutes, and the closing documents to be executed and delivered by Salisbury will constitute at
Closing, the legal, valid, and binding obligations of Salisbury enforceable against Salisbury in accordance with their respective
terms;

 

(q)         
Glycotech is a corporation duly organized, validly existing, and in good standing under the laws of the State of North
Carolina, has full power and authority to own and operate its properties and assets in connection with the business of the Facility,
and has full power and authority to enter into this Agreement and to assume and perform all of its obligations hereunder. The execution
and delivery of this Agreement and the closing documents required under Section 9, performance by Glycotech of its obligations
hereunder and thereunder, and the consummation of the transactions contemplated hereby have been duly and validly authorized by
all corporate and other action required under applicable law, Glycotech’s articles of incorporation and bylaws, or otherwise.
This Agreement constitutes, and the closing documents to be executed and delivered by Glycotech will constitute at Closing, the
legal, valid, and binding obligations of Glycotech enforceable against Glycotech in accordance with their respective terms;

 

(r)          
Salisbury or Glycotech currently has in effect policies of fire, liability, worker’s compensation, and other forms
of insurance that provide adequate coverage for the Assets, the Real Property, and the business conducted at the Facility
(collectively, the “Insurance Policies”). All Insurance Policies are and will remain in force and effect through the
date of Closing; and

 

    	 	7	 

     

    

(s)         
No third party has any right of first refusal, right of first offer, option, or similar right to purchase the Facility,
the Real Property, or the Assets, other than the Purchaser’s right under the ROFR Agreement.

 

6.           
CONDITIONS TO CLOSING. The obligation of Purchaser to purchase the Assets from Salisbury and Glycotech
is subject to the satisfaction on or before Closing of the following conditions (any of which may be waived in whole or part in
writing by Purchaser at or prior to Closing):

 

(a)         
The representations and warranties of Salisbury and Glycotech shall be true and correct on and as of the date of Closing;

 

(b)         
The Real Property shall be delivered to Purchaser free of tenancies, but subject to public and private easements of
record, and in substantially the same condition as exists as of the date of this Agreement, ordinary wear and tear excepted;

 

(c)         
Salisbury and Glycotech shall have performed and complied in all material respects with all agreements, covenants, obligations,
and conditions required by this Agreement to be performed and complied with by Salisbury and Glycotech at or before Closing;

 

(d)         
Purchaser shall have been approved for all governmental permits and licenses required for Purchaser’s operation
of the Facility, including but not limited to, NCDEQ Air Permit, U.S. Department of Transportation Hazardous Material Registration,
NCDEQ RCRA Permit, Brunswick County Sewer Permit and NPDES Stormwater Permit. Salisbury and Glycotech agrees to provide reasonable
assistance and cooperation to Purchaser in obtaining such licenses and permits. Purchaser agrees to apply for such licenses and
permits promptly after execution of this Agreement and diligently pursue obtaining all such required licenses and permits;

 

(e)         
Purchaser shall have obtained a commitment for owner’s title insurance coverage containing no exceptions or exclusions
from coverage not reasonably satisfactory to Purchaser;

 

(f)          
Purchaser shall have obtained such approvals, waivers, and consents as are required under Purchaser’s existing
agreements with its security and debt holders.

 

(g)         
Salisbury shall have provided Purchaser with payoff information confirming the amounts required to satisfy any outstanding
mortgages, deeds of trust, or security interests or monetary liens encumbering the Assets, and evidence that such amounts have
been satisfied;

 

    	 	8	 

     

    

(h)         
Salisbury shall have provided Purchaser with documentation reasonably satisfactory to Purchaser confirming the unused
water supply well located on the Real Property, previously used for spray irrigation and waste water treatment (not a well used
for ongoing monitoring activities), has been closed in accordance with all applicable laws and regulations;

 

(i)           
 Purchaser shall have obtained an assignment of all of Salisbury’s rights under the Akzo Nobel Agreement, and
Akzo Nobel’s consent thereto, acceptable in form and substance to Purchaser in its discretion;

 

(j)           
No event shall have occurred, including damage to, or destruction of, the Facility or any of the Assets, which would
have a material adverse effect on the operation of the Facility;

 

(k)         
Between the Effective Date and the Closing, Salisbury and Glycotech shall afford Purchaser and its representatives access
to the Real Property and the Facility, such right of access to be exercised in a manner that does not reasonably interfere with
the operations of Salisbury or Glycotech. Without limiting the foregoing, the Purchaser shall have the right to have its environmental
consultant and other representatives inspect the condition of the Real Property by conducting the environmental testing described
on Schedule 6(k); and

 

(l)           
If any contract on Schedule 5(e) requires the consent or approval of any party in order for such contract to be assigned
to the Purchaser or in connection with the execution or performance of this Agreement and the transactions contemplated hereby,
each such consent or approval shall have been obtained in writing, which consent or approval shall be acceptable in form and substance
to Purchaser in its discretion, including without limitation with respect to the contract(s) with CSX Transportation, Inc.

 

In the event that one or more of the conditions
to Purchaser’s obligation to close has not been or cannot be satisfied in the manner and as provided for herein, unless such
failure is caused by Purchaser’s breach of this Agreement, Purchaser shall have the right to extend the date of Closing beyond
the date specified in Section 9(a) for a period of up to 30 days in which to pursue satisfaction of all Closing conditions (the
date at the end of such 30-day period but in no event later than December 1, 2016, being the “Outside Date”). In the
event the conditions are not satisfied by the expiration of such additional period of time, Purchaser may either (i) terminate
this Agreement by written notice to Salisbury, in which case this Agreement shall be of no further force and effect, and the Deposit
returned to Purchaser, or (ii) close on the purchase and sale hereunder, waiving said unsatisfied conditions for the benefit
of Purchaser. In the event Purchaser elects to terminate this Agreement, the parties agree that the “Extension Period,”
as such term is defined in the letter agreement dated July 28, 2016, and as further referenced in the letter of intent dated September
13, 2016, is and shall be
extended 30 days after receipt of Purchaser’s notice of termination in accordance with the terms hereinafter set forth.

 

    	 	9	 

     

    

7.           
INDEMNIFICATION. Each of Salisbury and Glycotech agrees to indemnify, defend, and hold harmless Purchaser
from and against, and to reimburse Purchaser with respect to, any and all claims, demands, losses, damages, liabilities, causes
of action, judgments, penalties, costs, and expenses (including attorneys’ fees and expenses and court costs and cost of
investigation and remediation) of any and every kind or character, known or unknown, fixed or contingent, imposed on, asserted
against, or incurred by Purchaser at any time and from time to time by reason of, in connection with, or arising out of (a) the
breach of or noncompliance with any representation, warranty or agreement of Salisbury or Glycotech as set forth herein, (b) the
operation of the Facility or the Assets and any activities related thereto or to the Real Property prior to Closing, by or on behalf
of Salisbury or Glycotech or any other party, including without limitation a failure to comply with or liabilities arising under
Environmental Laws, (c) the existence of any Hazardous Materials at, on or under the Real Property, the Facility or the Assets
prior to Closing, or (d) the Excluded Liabilities.

 

Purchaser agrees to indemnify, defend, and hold
harmless Salisbury and Glycotech from and against, and to reimburse Salisbury and Glycotech with respect to, any and all claims,
demands, losses, damages, liabilities, causes of action, judgments, penalties, costs, and expenses (including attorneys’
fees and expenses and court costs and cost of investigation and remediation) of any and every kind or character, known or unknown,
fixed or contingent, imposed on, asserted against, or incurred by Salisbury or Glycotech by reason of and arising out of Purchaser’s
operation of the Facility subsequent to Closing, but expressly excluding any claims related to Excluded Liabilities, and Salisbury’s
and Glycotech’s indemnification obligations set forth in the preceding paragraph.

 

8.           
BROKERAGE COMMISSION. Purchaser and Salisbury represent and warrant to the other that neither is obligated
to a real estate or business broker in connection with this transaction.

 

9.           
CLOSING.

 

(a)         
Unless extended in writing by agreement of the parties or as otherwise provided in this Agreement, Purchaser and Salisbury
shall consummate and close the sale contemplated by this Agreement on or before the date 30 days following the Effective Date,
at a time and place mutually acceptable to Purchaser and Salisbury.

 

(b)         
Salisbury shall pay all required transfer taxes or transfer fees as required by state or local law and its attorneys’
fees. Purchaser and Salisbury agree to prorate as of the date of the Closing the ad valorem property taxes for the Real Property.

 

(c)         
Purchaser shall pay the cost of its attorney’s fees.

 

    	 	10	 

     

    

(d)         
At close of business on the day immediately before the day of Closing, Salisbury shall (i) gather all known keys
relating to the Facility operations; (ii) remove those items of personal property not being sold to Purchaser hereunder; and
(iii) arrange for utilities to be read and the billing of such utilities on and after the day of Closing to be in the name
of Purchaser. At Closing, Salisbury shall deliver all keys relating to the Facility operations to Purchaser.

 

(e)         
At Closing, Salisbury or Glycotech shall deliver to Purchaser the following documents:

 

(i)           
Special Warranty Deed conveying the Real Property to Purchaser together with any necessary sewer, utility and access
easements;

 

(ii)         
Bill of Sale and Assignment (from each of Salisbury and Glycotech), conveying to Purchaser the personal property Assets;

 

(iii)        
a certificate of existence, dated not later than twenty (20) days before the Closing, from the Secretary of State of
North Carolina;

 

(iv)        
certified resolutions of the board of directors and members and managers, as applicable, authorizing the execution and
delivery of this Agreement and the documents to be executed and delivered in connection herewith, the performance of Salisbury’s
or Glycotech’s obligations hereunder and consummation by Salisbury or Glycotech of the transactions contemplated by this
Agreement;

 

(v)         
a termination agreement with respect to the Glycotech Lease;

 

(vi)        
a signed counterpart of a termination agreement with respect to the PSA, containing a mutual release of all claims and
obligations, except for the post-closing reconciliation of expenses to be conducted in accordance with Section 9(i) of this Agreement;
and

 

(vii)       
a signed counterpart of an amendment to the ROFR Agreement in accordance with Section 4 of this Agreement (including
a “memorandum” in recordable form regarding the ROFR Agreement as so amended).

 

(f)          
At Closing, Purchaser shall deliver or cause to be delivered to Salisbury:

 

    	 	11	 

     

    

(i)           
The $100,000 payment to be made in accordance with Section 2 of this Agreement, which payment shall be accomplished
by payment of the Deposit from Escrow Agent to Salisbury;

 

(ii)         
The Purchase Money Note;

 

(iii)        
The Purchase Money Deed of Trust;

 

(iv)        
a UCC-1 financing statement suitable for filing with the Delaware Secretary of State perfecting the purchase money
security interest in the personal property conveyed under this Agreement;

 

(v)         
a signed counterpart of a termination agreement with respect to the PSA, containing a mutual release of all claims
and obligations, except for the post-closing reconciliation of expenses to be conducted in accordance with Section 9(i) of this
Agreement; and

 

(vi)        
a signed counterpart of an amendment to the ROFR Agreement in accordance with Section 4 of this Agreement (including
a “memorandum” in recordable form regarding the ROFR Agreement as so amended).

 

(g)         
At Closing, Salisbury and Glycotech shall also deliver copies of all books and records in such parties’ possession
pertaining to the business of the Facility.

 

(h)         
Salisbury, Glycotech and Purchaser shall each execute and deliver to the other such other certificates, documents,
affidavits, closing statements, and instruments as may be reasonable and necessary in the opinion of counsel for the other to
consummate and close the purchase and sale contemplated by this Agreement.

 

(i)           
Purchaser and Glycotech each agree to conduct a final reconciliation within ten (10) days after Closing with respect
to the Monthly Operating Fees (as such term is defined in the PSA) paid by Purchaser and the actual operating costs incurred by
Glycotech. Any amounts owing to either Purchaser or Glycotech as a result of such final reconciliation shall be paid within twenty
(20) days after Closing.

 

(j)           
Reference is made to the letter agreement between the parties dated July 28, 2016. The parties hereby amend such letter
agreement by replacing September 15, 2016 with the date which is 30 days after the Effective Date (or if applicable, the date
which is the Outside Date) each time it appears in such letter agreement.

 

10.         
RISK OF LOSS. Salisbury and Glycotech shall bear all risk of condemnation and of loss, damage or destruction
to the Real Property and the Assets prior to the Closing.

 

    	 	12	 

     

    

11.         
DEFAULT. In the event either party defaults under this Agreement and such default (other than a default
in the payment of the Deposit or execution and delivery of the documents required to be delivered at Closing) is not cured within
five (5) business days after receipt of notice from the non-defaulting party describing the alleged default, the non-defaulting
party shall have all rights and remedies available to it at law or in equity, including a suit for specific performance and/or
an action for damages.

 

12.         
MISCELLANEOUS.

 

12.1      
Notices

 

(a)         
All notices, requests, demands and other communications required or permitted under this
Agreement shall be in writing and mailed or delivered:

 

(i)           
If to the Salisbury or Glycotech, to:

 

Salisbury Partners, LLC

Glycotech, Inc.

24 West Salisbury Street

Wrightsville Beach, NC 28480

Attention:

 

with a copy to:

 

Siegel & Rhodenhiser, PLLC1426 Commonwealth Drive

Suite B

Wilmington, NC 28403

 

(ii)         
If to Purchaser, to:

 

Amyris, Inc.

5885 Hollis Street, Suite 100

Emeryville, California 94608

Attention:

 

with copies to:

 

Amyris, Inc.

5885 Hollis Street, Suite 100

Emeryville, California 94608

Attention:

 

and to:

 

    	 	13	 

     

    

Smith, Anderson, Blount, Dorsett,

Mitchell & Jernigan, L.L.P.

Wells Fargo Capitol Center

150 Fayetteville Street, Suite 2300

Post Office Box 2611

Raleigh, North Carolina 27602-2611

Attention:

 

(b)         
All notices and other communications required or permitted under this Agreement that are
addressed as provided above will be delivered by any courier or postal service that provides a publically-available database that
shows the actual date of delivery (such as via tracking number). The parties hereto may from time to time change their respective
addresses for the purpose of notices to that party by a similar notice specifying a new address, but no such change shall be deemed
to have been given until it is actually received by the party sought to be charged with its contents.

 

12.2      
Law To Govern. This Agreement shall be governed by and construed and interpreted under
the laws of the State of North Carolina.

 

12.3      
No Waiver. The failure of either party to exercise any power given any party hereunder
or to insist upon strict compliance by either party of its obligations hereunder shall not constitute a waiver of either party’s
right to demand exact compliance with the terms hereof.

 

12.4      
Entire Agreement; Modification. This Agreement and the closing documents described herein,
and contain the entire agreement of the parties with respect to the subject matter hereof, and no representations, inducements,
promises or agreements, oral or otherwise between the parties not embodied herein or therein shall be of any force and effect.
No amendment to this Agreement shall be binding on any of the parties to this Agreement unless such amendment is in writing and
executed by all of the parties to the Agreement. For clarity, this Agreement supersedes the Letter of Intent Agreement among the
parties dated September 13, 2016.

 

12.5      
Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of
the parties hereto and their respective successors and permitted assigns.

 

12.6      
Counterparts. This Agreement may be executed in several counterparts, each of which shall
be deemed an original, and all such counterparts shall together constitute one instrument.

 

12.7      
Survival of Warranties. Except as otherwise set forth herein, all representations and
warranties contained in this Agreement shall survive Closing.

 

12.8      
Severability. If any one or more of the provisions contained in this Agreement shall for
any reason be held invalid, illegal or unenforceable in any respect, 
such invalidity, illegality or unenforceability shall not affect any other
provision hereof, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained
herein.

 

    	 	14	 

     

    

12.9      
Captions. Captions and headings throughout this Agreement are for convenience and reference
only, and they shall not define, limit, modify or add to the interpretation or meaning of any provisions of this Agreement or in
any way affect the scope, intent or effect of this Agreement.

 

12.10   
Force Majeure. Whenever a period of time is provided for in this Agreement for either
party to do or perform any act or thing, said party shall not be responsible for any delay due to acts of God or other causes beyond
the reasonable control of said party, and in such event the time period shall be extended for the amount of time said party is
so delayed.

 

12.11   
Assignment. Purchaser shall have the right to assign this Agreement and its rights hereunder,
in whole or in part, at any time and from time to time, to any subsidiary or affiliate of Purchaser without any prior consent from
Salisbury or Glycotech; provided, however, that notwithstanding such assignment, Purchaser shall remain liable for its obligations
hereunder. Otherwise, neither party may assign this Agreement without the prior written consent of the other party.

 

12.12   
Additional Instruments. The parties hereto shall execute and deliver any and all additional
documents, certifications, or other instruments and to perform any and all additional actions as shall be necessary to give full
effect and complete the purpose and intent of this Agreement.

 

12.13   
Escrow Provisions. Upon its receipt thereof, Escrow Agent shall deposit the Deposit in
a federally insured account. Except as otherwise provided in this Agreement, the Deposit shall be delivered by Escrow Agent to
Salisbury at the Closing for application against the Purchase Price; provided, however, if Purchaser shall be entitled to a refund
of the Deposit in accordance with the terms of this Agreement, Escrow Agent shall promptly refund the Deposit to Purchaser. Escrow
Agent shall have no liability to any party hereto in acting or refraining from acting hereunder except for willful malfeasance
and shall perform such function without compensation. In the event of any dispute between the parties hereto or between Escrow
Agent and Salisbury or Purchaser, Escrow Agent may deposit the Deposit in a court of competent jurisdiction for the purpose of
obtaining a determination of such controversy. Upon delivery of the Deposit to Escrow Agent, Escrow Agent will acknowledge to the
parties in writing (which may be by email) that the Deposit is being held pursuant to the terms of this Agreement. 

 

12.14   
Confidentiality. This Agreement and the closing documents referred to herein, and the
transactions contemplated thereby, shall constitute Confidential Information (as defined in Section 10 of the PSA) of each party
hereto. Neither party shall publicly announce or disclose this Agreement or the transactions contemplated hereby. For clarity Section
10 of the PSA shall survive the termination of the PSA. Notwithstanding the foregoing and Section 10 of the PSA, a party may 
disclose Confidential Information as required by applicable laws, rules
and regulations including those of the Securities and Exchange Commission or any stock exchange on which a party’s securities
are traded.

 

    	 	15	 

     

    

12.15    Release. Each
of Salisbury and Glycotech and its affiliates, agents, owners, successors, and assigns, hereby fully release and waive
against the Purchaser and its affiliates, agents, successors, and assigns, any and all rights, claims, actions, causes of
action, damages, and liabilities whatsoever, including costs, expenses, and attorneys’ fees, whether known or unknown,
accrued or unaccrued, that arise out of or relate to the migration or similar movement of any Hazardous Materials (which
existed at any time prior to the Closing at, on or under the Real Property or the Facility) from the Real Property or the
Facility to any of the Adjacent Parcels or any portion thereof, or any other property, whether such migration occurred
or occurs before or after the Closing. Salisbury agrees that it shall not convey or otherwise transfer any interest in the
Adjacent Parcels to any party without first obtaining a release substantially identical to the release set forth in this
Section 12.15 which is binding and enforceable against the transferee by and for the benefit of the Purchaser and its
successor and assigns including any successor or assign to the Real Property.

 

 

[SIGNATURES APPEAR ON FOLLOWING PAGE]

 

 

 

 

 

 

 

 

 

 

 

    	 	16	 

     

    

[signature page to
Purchase and sale Agreement]

 

IN TESTIMONY WHEREOF, Salisbury, Glycotech
and Purchaser have each caused this Agreement to be executed by a duly authorized officer, member, or manager.

 

 

 

 

SALISBURY PARTNERS, LLC

 

 

 

By: /s/ Margaret Collins                  

Name: Margaret Collins

Title: Managing Member

 

 

GLYCOTECH, INC.

 

 

 

By: /s/ Margaret Collins                  

Name: Margaret Collins

Title: President

 

 

 

 

AMYRIS, INC.

 

 

 

By: /s/ John Melo                             

Name:

Title:

 

 

 

 

 

 

 

    	 	17	 

     

    

Schedule 1(a)

 

 

BEING all of Tract 1R, as shown on the plat prepared by Hanover Design
Services, P.A. and recorded in Map Cabinet 92, Page 18, Brunswick County Registry.

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

Schedule 1(b)

 

Manufacturing Equipment

 

GLYCOTECH
Equipment listing of reactors and tanks REVISED December 12, 2014

 

	FV=	full vacuum	 	 	PE=	Polyethylene	 	 
	SS=	stainless steel	 	CON=	Concrete	 	 	 
	GL=	glass lined steel	 	WWB=	Well water building	 	 
	PP=	Processing pad	 	Bldg #1=	Office, lab, locker room, & warehouse
	BT=	Bulk Tank farm	 	MCC=	Motor Control Center (electrical room)
	WWPT=	Waste water treatment area	HS=	hydrogen storage area	 	 
	BL=	Bleanding and drying room	MS=	Maintenance shop area	 	 
	FG=	Fiberglass	 	 	PITO=	Property in the Open	 	 

 

	 	 	 	 	 	 	 	 	 
	Reactors and Receivers	 	 
	Vessel ID	size (gals)	jacket/coils	material of construction	open or closed top	MAWP pressure rating (PSIG)	heating medium	 	 
	HR-1	2,000	jacketed, internal coils	316 SS	closed	FV to 440	steam	 	 
	HR-28	1,200	jacketed, internal coils	304SS	closed	FV to 585	hot oil or steam	 	 
	R-45	1,000	jacketed, internal coils	304SS	closed	FV to 1,700	hot oil or steam	 	 
	OR-6	500	jacketed, internal coils	Titanium Clad	closed	FV to 1,100	hot oil or steam	 	 
	HT-3	3,000	jacketed	316 SS	closed	FV to 55	steam	 	 
	NT-11	2,500	jacketed	304SS	closed	FV to 35	steam	 	 
	NR-12	2,000	jacketed, internal coils	316SS	closed	FV to 60	steam	 	 
	HT-29	2,000	jacketed	316SS	closed	FV to 75	steam	 	 
	HT-30	1,500	jacketed	316SS	closed	FV to 75	steam	 	 
	ER-9	1,500	jacketed	GL	closed	FV to 100	steam	 	 
	ET-8	1,000	no jacket	GL	closed	FV to 100	none	 	 
	GT-31	2,000	no jacket	GL	closed	FV to 35	none	 	 
	NT-13	1,500	jacket	SS	closed	atmospheric	steam	 	 
	HT-2	900	no jacket	SS	closed	atmospheric	none	 	 
	HT-27	850	no jacket	SS	closed	FV to 75	none	 	 
	Cent #1	24" X 48"	 	SS	closed	atmospheric	none	 	 
	Cent #2	24" X 48"	 	SS	closed	atmospheric	none	 	 
	Cent #3	24" X 48"	 	SS	closed	atmospheric	none	 	 
	CT-4	600	no jacket	SS	closed	atmospheric	none	 	 
	CT-10	600	no jacket	SS	closed	atmospheric	none	 	 
	OT-5	500	jacketed	SS	closed	atmospheric	steam	 	 
	T-32	350	jacketed	SS	closed	FV to 25	steam	 	 
	30" Niagara filter	 	 	 	 	 	 	 	 
	18" Niagara filter A	 	 	 	 	 	 	 	 
	18" Niagara filter B	 	 	 	 	 	 	 	 
	18" Niagara filter C	 	 	 	 	 	 	 	 
	Flowmeters on PP	 	 	 	 	 	 	 	 
	Foxboro controller/recorders (16)	 	 	 	 	 	 	 	 
	Reactor load cells and displays (5)	 	 	 	 	 	 	 	 
	Batch Master controller (1)	 	 	 	 	 	 	 	 
	Structural Steel Platform with roof	 	 	 	 	 	 	 	 
	Stokes vacuum pump (150 cfm) (2)	 	 	 	 	 	 	 	 
	Stokes vacuum pump (300 cfm) (1)	 	 	 	 	 	 	 	 
	Stokes vacuum pump (150cfm) (1)	 	 	 	 	 	 	 	 
	100rton cryogenic chiller	 	 	 	 	 	 	 	 

 

     

     

    

	Reactors and Receivers	 	 
	Vessel ID	size (gals)	jacket/coils	material of construction	open or closed top	MAWP pressure rating (PSIG)	heating medium	 	 
	
        Haskell hydrogen

        gas compressors (2 installed & 1 spare)
	 	 	 	 	 	 	 	 
	Steam tray dryers and racks (3)	 	 	 	 	 	 	 	 
	Stokes 100 ft3 Rotary Vacuum dryer	 	 	 	 	 	 	 	 
	SS Ribbon Blender (2) 180 ft3 & 200 ft3 plus rotary sieves KASON	 	 	 	 	 	 	 	 
	SS packaging hopper	 	 	 	 	 	 	 	 
	150 Hp Steam Boiler	 	 	 	 	 	 	 	 
	Fulton Hot Oil Boiler 2.4 MM BTU/hr	 	 	 	 	 	 	 	 
	30 Hp Steam Boiler	 	 	 	 	 	 	 	 
	Scrubber tower	 	 	 	 	 	 	 	 
	Air compressor	 	 	 	 	 	 	 	 
	Maintenance shop equipment and tolls	 	 	 	 	 	 	 	 
	Motor Control Room (buckets, switchgear, VFDs, and transformer)	 	 	 	 	 	 	 	 
	Misc installed items: piping, valves, gauges, transducers, RTDs, transmitiers, thermocouples, displays, seals, etc...	 	 	 	 	 	 	 	 
	Spare parts: electric motors, pumps, seals, valves, gauges, etc...	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	CT-14	350	no jacket	SS	closed	atmospheric	none	 	 
	EC-1 (Liq/Liq extractor column)	1,200	pre-heater & post -cooler	SS	closed	FV to 15	steam	 	 
	REC-400 receiver for HT-30	400	no jacket	SS	closed	FV to 15	none	 	 
	REC-75 receiver for HR-28	75	no jacket	SS	closed	FV to 15	none	 	 
	REC-70 receiver for HR-1	70	jacketed	SS	closed	FV to 17	steam	 	 
	REC-60 receiver for R-45	60	no jacket	SS	closed	FV to 15	none	 	 
	 	 	 	 	 	 	 	 	 
	TOTAL SITE REACTOR CAPACITY=	27,655	 	 	 	 	 	 	 

 

    	 	2	 

     

    

	Storage Tanks	 	 
	Vessel ID	size (gals)	jacket/coils	material of construction	open or closed top	MAWP pressure rating 	heating medium	 	 
	BS-21	10,000	 	304 SS	closed	0.5 " water	none	 	 
	BS-22	10,000	 	304 SS	closed	0.5 " water	none	 	 
	BS-23	10,000	heat/cool heat exchanger on recirc. loop, insulated	304 SS	closed	0.5 " water	steam	 	 
	BS-24	12,500	belly band, insulated	304 SS	closed	0.5 " water	steam	 	 
	BS-25	12,500	belly band, insulated	304 SS	closed	0.5 " water	steam	 	 
	BS-26	10,000	 	304 SS	closed	0.5 " water	 	 	 
	GL-5000	5,000	 	GL	closed	atmospheric	 	 	 
	Daytank #1	10,000	 	FG	closed	atmospheric	none	 	 
	Daytank #2	10,000	 	FG	closed	atmospheric	none	 	 
	Daytank #3	18,000	 	FG	closed	atmospheric	none	 	 
	Digester	12,000	 	FG	open 	atmospheric	none	 	 
	Polytank #1	2,500	 	PE	closed	atmospheric	none	 	 
	Polytank #2	1,200	 	PE	closed	atmospheric	none	 	 
	Scrubber reservoir	2,500	 	FG	closed	atmospheric	none	 	 
	 	 	 	 	 	 	 	 	 
	Total =	126,200	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

    	 	3	 

     

    

	Dedicated Storage Tanks/Basins	 	 
	Vessel ID	size (gals)	jacket/coils	material of construction	open or closed top	MAWP pressure rating 	heating medium	 	 
	Aeration Basin	150,000	 	CON	open 	atmospheric	none	 	 
	Equalization Basin	150,000	 	CON	open 	atmospheric	none	 	 
	Settling Tank	12,000	 	CON	open 	atmospheric	none	 	 
	well water tank	10,000	 	CS	closed	atmospheric	none	 	 
	air compressor	 	 	 	 	 	 	 	 
	Hurricane filter separator	 	 	 	 	 	 	 	 
	aerators (2)	 	 	 	 	 	 	 	 
	Blowers (2)	 	 	 	 	 	 	 	 
	Pumps (6)	 	 	 	 	 	 	 	 
	oil grease separator	 	 	 	 	 	 	 	 
	waste water treatment system	 	 	 	 	 	 	 	 
	filter press	 	 	 	 	 	 	 	 
	No. 2 Fuel oil storage tank	10,000	 	CS	closed	atmospheric	none	 	 
	 	 	 	 	 	 	 	 	 
	TOTAL =	332,000	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

    	 	4	 

     

    

	Lab equipment and fixtures	 	 
	item ID	size (gals)	jacket/coils	material of construction	open or closed top	MAWP pressure rating 	heating medium	 	 
	HP Gas Chromatograph (2) with integrators	 	 	 	 	 	 	 	 
	UV/Vis Spectrophotmeter	 	 	 	 	 	 	 	 
	Karl Fisher Accumet titrator	 	 	 	 	 	 	 	 
	HACH Multimeter and accessories	 	 	 	 	 	 	 	 
	BUCHI Rotoevap R	 	 	 	 	 	 	 	 
	Brookfiled Viscometer (2)	 	 	 	 	 	 	 	 
	Refractometer	 	 	 	 	 	 	 	 
	UV LC Detector and column oven	 	 	 	 	 	 	 	 
	Flash point Koehler	 	 	 	 	 	 	 	 
	pH meters (3)	 	 	 	 	 	 	 	 
	Melting point	 	 	 	 	 	 	 	 
	Analytical balance (2)	 	 	 	 	 	 	 	 
	Lab refrigerator	 	 	 	 	 	 	 	 
	microscopes (2)	 	 	 	 	 	 	 	 
	Air ovens (3)	 	 	 	 	 	 	 	 
	Vacuum ovens (2)	 	 	 	 	 	 	 	 
	vacuum pumps (2)	 	 	 	 	 	 	 	 
	misc. glassware 	 	 	 	 	 	 	 	 
	Exhaust Hoods (2)	 	 	 	 	 	 	 	 
	Autoclave (Parr Instruments, 1 gallon, rated for 6,000 psi, 650 degrees, 316 stainless steel, with controller	 	 	 	 	 	 	 	 
	TOTAL =	0	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

    	 	5	 

     

    

	TOTAL SITE STORAGE CAPACITY =	458,200	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Replacement value estimate for processing equipment on site:	 	 	 	 	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

    	 	6	 

     

    

Schedule 1(c)

 

Fixtures, Machinery and Equipment

 

 

Lab Equipment and Analytical Instruments

Three (3) Forklifts

 

 

 

 

 

 

 

 

     

     

    

Schedule 1(e)

 

Inventory and Raw Materials

 

Nitrogen

Lab gases

Filter bags and cartridges

 

 

 

 

 

 

 

 

 

 

     

     

    

Schedule 3

 

Employees

 

 

	NON-EXEMPT STAFF	 	 
	EE 	Position 	2016 Base Hourly Wage 	Date of Hire 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

     

     

    

	EXEMPT STAFF 	 
	EE	Position	2016 Base Salary	Date of Hire
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

 

 

 

 

 

 

 

 

 

    	 	2Exhibit 10.96

 

CONFIDENTIAL
TREATMENT REQUESTED. CERTAIN PORTIONS OF THIS DOCUMENT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND,
WHERE APPLICABLE, HAVE BEEN MARKED WITH AN ASTERISK TO DENOTE WHERE OMISSIONS HAVE BEEN MADE. THE CONFIDENTIAL MATERIAL HAS BEEN
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

 

 

 

 

 

 

 

 

 

 

COOPERATION AGREEMENT

 

between

 

NENTER & CO.,
INC.

 

and

 

AMYRIS, INC.

 

dated as of 26
October 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

This COOPERATION AGREEMENT (this “Agreement”),
dated as of 26 October 2016, is entered into by and between Nenter & Co., Inc., a company duly established and validly existing
under the laws of the People’s Republic of China, whose registered address is 197 Oriental Road, High Tech Development Zone,
Jingzhou City, Hubei Province, 434000, China (“Nenter”) and Amyris, Inc., a company duly established and validly
existing under the laws of the State of Delaware, United States of America, whose address is 5885 Hollis Street, Ste. 100, Emeryville,
CA 94608 (“Amyris”) (each of Nenter and Amyris may be referred to herein as a “Party” and
collectively, as the “Parties”).

 

WHEREAS, the Parties desire to collaborate to
develop and sell new technology and/or commercial products based on [*] (as defined herein) (the “Collaboration”);

 

WHEREAS, Amyris’ responsibilities under
the Collaboration shall be conducting certain research and development activities pursuant to a project plan to produce [*] Products
(as defined herein); and

 

WHEREAS, Nenter’s responsibilities under
the Collaboration shall be manufacturing and commercializing such [*] Products, depending on the success of certain milestones
agreed between the Parties.

 

NOW, THEREFORE, in consideration of the premises
and the mutual agreements and covenants hereinafter set forth, and intending to be legally bound, Nenter and Amyris hereby agree
as follows:

 

Article I

DEFINITIONS

 

Section 1.01.        Certain Defined Terms. As used in this Agreement, the following capitalized terms shall have the meanings
set forth below:

 

“Action” means any action,
claim, suit, arbitration, litigation, investigation or proceeding by or before any Governmental Authority.

 

“Affiliate” means, with respect
to any specified Person, any other Person that, directly or indirectly, through one (1) or more intermediaries, controls, is controlled
by, or is under common control with, such specified Person.

 

“Agreement” means this Cooperation
Agreement, including all associated Exhibits attached hereto.

 

“Amyris” has the meaning set
forth in the Preamble.

 

“Amyris Indemnified Party”
has the meaning set forth in Section 8.03(a).

 

“Assertions” has the meaning
set forth in Section 5.02.

 

“Business Day” means any day
that is not a Saturday, a Sunday or other day on which banks are required or authorized by Law to be closed in the City of New
York or China.

 

 

[*] Certain portions denoted with an asterisk have been omitted
and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

 

    	 	Page 1

     

    

 

“Chair” has the meaning set
forth in Section 2.01.

 

“Collaboration” has the meaning
set forth in the Recitals.

 

“Commercialization Plan” has
the meaning set forth in Section 2.03(a)(iv).

 

“Confidential Information”
means, with respect to a Disclosing Party, all information of any kind whatsoever (including compilations, data, materials, drawings,
formulae, models, patent disclosures, inventions, procedures, processes, financial projections, market projections, protocols,
results of experimentation and testing, product samples, specifications, strategies, and techniques), and all tangible and intangible
embodiments thereof of any kind whatsoever (including apparatus, compositions, documents, drawings, machinery, unpublished patent
applications, records, reports), which are marked or otherwise identified as “confidential” at the time of disclosure
to the Receiving Party or that, due to the nature of its subject matter or circumstances surrounding its disclosure, would reasonably
be understood to be confidential or proprietary. Confidential Information includes the terms and existence of this Agreement. Notwithstanding
the foregoing, information shall not be considered Confidential Information if the Receiving Party establishes such information:
(a) has been publicly known prior to disclosure by the Disclosing Party; (b) has become publicly known, without fault of the Receiving
Party, subsequent to the disclosure of such information by the Disclosing Party; (c) has been received by the Receiving Party at
any time, from a source other than the Disclosing Party, and such source rightfully has possession of and the right to disclose
such information to the Receiving Party; (d) is otherwise known by the Receiving Party prior to the disclosure of such information
by the Disclosing Party; or (e) has been independently developed by or on behalf of Personnel of the Receiving Party without access
to or use of such information disclosed by the Disclosing Party.

 

“control” (including the terms
“controlled by” and “under common control with”), with respect to the relationship between
or among two or more Persons, means the possession, directly or indirectly or as trustee, personal representative or executor,
of the power to direct or cause the direction of the affairs or management of a Person, whether through the ownership of voting
securities, as trustee, personal representative or executor, or by contract.

 

“[*] Field” means any substance(s)
or mixture(s) thereof intended to be [*].

 

“Disclosing Party” has the
meaning set forth in Section 9.02.

 

“Effective Date” means the
latter of the date of the shareholders’ meeting whereby Guanfu Holding Co., Ltd., the sole shareholder of Nenter, approves
this Agreement or the date of approval of this Agreement by Amyris’s Board.

 

“Executive Officers” means,
(a) in the case of Amyris, the Chief Executive Officer and (b) in the case of Nenter, the chairman of the board of directors.

 

“Field of Use” means any use or application primarily related to [*], but excluding
the [*] Field.

 

 

[*] Certain portions denoted with an asterisk have been omitted
and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

 

    	 	Page 2

     

    

 

“Force Majeure Event” has the
meaning set forth in Section 11.01.

 

“Governmental Authority” means
any federal, national, supranational, state, provincial, local or municipal government, governmental, regulatory or administrative
authority, agency or commission or any court, tribunal, or judicial or arbitral body of competent jurisdiction, including acting
in the capacity of conservator.

 

“Indemnified Party” has the
meaning set forth in Section 8.03(c).

 

“Indemnifying Party” has the
meaning set forth in Section 8.03(c).

 

“Intellectual Property” means
all rights in the following in any jurisdiction throughout the world: (i) Patents, (ii) Trademarks, (iii) copyrights,
including copyrights in computer software, (iv) registrations and applications for registration of any of the foregoing under
subclauses (i) – (iii) of this definition, and (v) Know-How.

 

“JSC” has the meaning set forth
in Section 2.01.

 

“JV” has the meaning set forth
in Section 4.03(a).

 

“Know-How” means any and all
technical information, research and development information, trade secrets, formulae, technical specifications, directions, instructions,
user guides, operation guides, test protocols, test and qualification approaches, procedures and results, studies, analyses, raw
material sources, data, formulation or production technology, conceptions, ideas, innovations, discoveries, inventions, processes,
methods, enhancements, modifications, technological developments, techniques, systems, tools, designs, schematics, semiconductor
masks, business specifications, engineering drawings and software code.

 

“Law” means any federal, national,
supranational, state, provincial or local statute, law, ordinance, regulation, rule, code, requirement or rule of law (including
common law).

 

“Material Adverse Change” means
any event, occurrence, fact, condition or change that is materially adverse to (a) the business, results of operations, financial
condition or assets of Amyris, or (b) the ability of Amyris to consummate the transactions contemplated hereby; provided,
however, that “Material Adverse Change” shall not include any event, occurrence, fact, condition or change,
directly or indirectly, arising out of or attributable to: (i) general economic or political conditions; (ii) conditions generally
affecting the industries in which Amyris operates; (iii) any changes in financial, banking or securities markets in general, including
any disruption thereof and any decline in the price of any security or any market index or any change in prevailing interest rates;
(iv) any action required or permitted by this Agreement or any action taken (or omitted to be taken) with the written consent of
or at the written request of Amyris; (v) any matter of which Nenter is aware on the Effective Date based on the information provided
and disclosed by Amyris; (vi) any changes in applicable Laws or accounting rules (including GAAP); (vii) the announcement, pendency
or completion of the transactions contemplated by this Agreement, including losses or threatened losses of employees, customers,
suppliers, distributors or others having relationships with Amyris; (viii) any Force Majeure Event; or (ix) any failure by Amyris
to meet any internal or published projections,

 

    	 	Page 3

     

    

 

forecasts or revenue or earnings predictions (provided
that the underlying causes of such failures (subject to the other provisions of this definition) shall not be excluded).

 

“Nenter” has the meaning set
forth in the Preamble.

 

“Nenter Indemnified Party”
has the meaning set forth in Section 8.03(a).

 

“Nenter Targets” means the
results and milestones set forth in a Project Plan that determine whether Nenter has successfully completed its obligations with
respect to creating a cost-effective and high-conversion rate conversion process from [*] to [*] Products.

 

“Party” has the meaning set
forth in the Preamble.

 

“Patents” means all patents
together with any extensions, reexaminations and reissues of such patents, patents of addition, patent applications, divisions,
continuations, continuations-in-part, and any subsequent filing in any country or jurisdiction claiming priority therefrom.

 

“Person” means any individual,
partnership, firm, corporation, limited liability company, association, trust, joint venture, unincorporated organization or Governmental
Authority.

 

“Personnel” means a Party’s
directors, officers, employees, agents and independent consultants, contractors, accountants and attorneys.

 

“Project Plan” has the meaning
set forth in Section 4.01(a).

 

“R&D Targets” means the
results and milestones set forth in a Project Plan that determine whether Amyris has successfully completed its obligations with
respect to the research and development of [*] Products.

 

“Receiving Party” has the meaning
set forth in Section 9.02.

 

“Term” has the meaning set
forth in Section 3.01.

 

“Trademarks” means trademarks,
service marks, trade names, trade dress and Internet domain names, together with the goodwill associated therewith.

 

“[*]” means [*], or a derivative
thereof.

 

“[*] Achievement Date” means
the date that Amyris achieves all the R&D Targets applicable to the production of [*].

 

“[*]” means intermediate products
created in the process of synthesizing [*] that can be later converted to [*] through chemical synthesis.

 

 

[*] Certain portions denoted with an asterisk have been omitted
and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

 

    	 	Page 4

     

    

 

“[*] Achievement Date” means
the date that (i) Amyris achieves all of the R&D Targets applicable to the production of [*] and (ii) Nenter achieves all
of the Nenter Targets.

 

“[*] Products” means [*],
as applicable.

 

“Warrant” means a warrant to
purchase ten million (10,000,000) shares of common stock of Amyris (the “Warrant Shares”) at a price of fifty
cents ($0.50) per share, for an aggregate purchase price of five million dollars ($5,000,000) (the “Warrant Exercise Price”),
substantially in the form of Exhibit A.

 

“Warrant Exercise Price” has
the meaning set forth in the definition of “Warrant”.

 

“Warrant Shares” has the meaning
set forth in the definition of “Warrant”.

 

Article II

JOINT STEERING COMMITTEE

 

Section 2.01.        
Joint Steering Committee; Responsibilities. Within forty-five (45) days of the Effective Date, the Parties
shall establish a joint steering committee consisting of two (2) persons appointed by Amyris and two (2) persons appointed by Nenter
(the “JSC”) to carry out the responsibilities set forth in Section 2.03. Each Party may replace either
or both of its JSC members for any reason at any time, effective upon the delivery of prior written notice to the other Party of
any such change. One (1) committee member shall be appointed by Amyris as the chairperson of the JSC (the “Chair”)
to organize and preside over meetings. Each Party shall bear all expenses relating to its members’ participation on the JSC,
including their attendance at JSC meetings. The JSC shall continue to exist until the termination or expiration of this Agreement.

 

Section 2.02.       
Meeting Procedure. The JSC shall meet as needed (but not less than once per quarter) during the Term, at times
and places or in such form (such as by telephone conference) as the JSC determines. For a JSC meeting to be held, at least one
(1) member from each Party must participate in such meeting, including the Chair. For each JSC meeting, the Chair shall provide
the committee members, no later than thirty (30) days before the meeting (unless such meeting is an emergency meeting), with notice
of the location, time, and, if applicable, dial-in phone numbers, the prior agreed meeting agenda, and, to the extent provided
by each Party, copies of any relevant documentation and applications for consideration at the meeting. Each Party shall attempt
in good faith to accommodate the scheduling concerns of the other Party in scheduling JSC meetings. The Chair shall be responsible
for preparing and circulating, within ten (10) Business Days after a JSC meeting, draft minutes of such JSC meeting for approval
by the JSC members; provided that the Chair may delegate such preparation and circulation of such minutes to another person that
participates in the JSC meeting. Such minutes shall include detailed records of discussions and detailed descriptions of agreed
actions and next steps. Any objections to draft minutes shall be raised within ten (10) Business Days of receipt thereof, and any
JSC member raising an objection shall propose alternative language for the minutes within such ten (10) Business Day period. The
JSC

 

 

[*] Certain portions denoted with an asterisk have been omitted
and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

 

    	 	Page 5

     

    

 

members shall use good faith efforts to resolve
promptly and in an amicable manner any disagreements over minutes of JSC meetings. If no objection is raised during the ten (10)
Business Day period following distribution of draft minutes, the minutes shall be deemed approved by the JSC.

 

Section 2.03.       
Responsibilities of the JSC.

 

(a)          
The JSC shall be the forum to monitor, review and set direction of the Parties’ activities under this Agreement,
and the JSC is specifically responsible for performing the following tasks under this Agreement:

 

(i)          
evaluating and deciding on any modifications to the Project Plan in accordance with Section 4.02;

 

(ii)         
issuing such reports and furnishing such information as the JSC determines, in its discretion, are necessary or appropriate
to keep the Parties informed of the progress of the Project Plan;

 

(iii)       
notifying the Parties of any actual or potential technical issues of or deviations from the Project Plan;

 

(iv)        determining whether to pursue the plan to manufacture and commercialize (A) [*] pursuant to Section 4.03(a)
or (B) [*] pursuant to Section 4.03(b) (each such plan, a “Commercialization Plan”); and

 

(v)        
performing such other functions as are expressly assigned to the JSC under this Agreement or that further the purpose
of this Agreement as determined by the mutual written agreement of the Parties from time to time.

 

(b)        
For the avoidance of doubt, the JSC shall only have the powers specifically delegated to it by this Agreement and
shall have no authority or ability to direct or manage Amyris’ execution of the Project Plan. Without limiting the foregoing,
the JSC has no authority to, and shall not purport or attempt to:

 

(i)          
negotiate agreements on behalf of any Party;

 

(ii)         
make representations or warranties on behalf of any Party;

 

(iii)       
waive rights of any Party;

 

(iv)       
extend credit on behalf of any Party;

 

(v)        
take or grant licenses of, transfer ownership, or otherwise encumber Intellectual Property on behalf of any Party;
or

 

(vi)       
make amendments to this Agreement on behalf of any Party (but subject to Section 11.07).

 

 

[*] Certain portions denoted with an asterisk have been omitted
and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

 

    	 	Page 6

     

    

 

(c)         
The JSC may at any time establish one (1) or more subcommittees and/or a technical committee, which shall have the
responsibilities assigned to them by the JSC, which may include, the issuance of reports and recommendations to the JSC; provided,
that the JSC may not delegate or assign to any such committee any of the duties of the JSC set forth in this Section 2.03.

 

Section 2.04.        Decision-making; Deadlock. All decisions allocated to the JSC shall require a unanimous, affirmative vote
for approval, with one (1) vote cast collectively by each Party’s JSC members. Each Party agrees that its JSC members will
consider the other Party's comments and concerns in good faith on each decision. In the event that the JSC is unable to reach a
unanimous agreement on a decision voted upon by it, then either Party may, within five (5) Business Days after such failed vote,
escalate the matter with written notice to the counter Party’s Executive Officer. If the Executive Officers are unable to
reach a mutually satisfactory resolution of the applicable issue within five (5) Business Days after such escalation, then the
Parties shall continue to discuss such issue in good faith but shall continue to perform this Agreement with the matter voted upon
by the JSC remaining unapproved. JSC decisions or the failure of the JSC to achieve a unanimous agreement on any decision delegated
to it or the failure of the Executive Officers to achieve unanimous agreement on any matter appealed to them under this Section
2.04 shall not be subject to additional review or appeal, including under the dispute resolution procedures in Section 11.09,
except to the extent a breach of this Agreement is alleged in good faith. For the avoidance of doubt, any dispute that is not of
a type described in this Section 2.04 shall be subject to and governed by Section 11.09 of this Agreement.

 

Section 2.05.        Obligation to Inform JSC. Subject to any prohibitions or restrictions on disclosure under Applicable Laws
or binding contractual obligations, each Party shall notify the JSC promptly in the event that it becomes aware of any development
or failure (including, for the avoidance of doubt, the failure of Nenter to make reasonable progress with respect to achieving
the Nenter Targets) that would reasonably be expected to materially impact the Collaboration.

 

Article III

TERM

 

Section 3.01.         Term.
This Agreement shall commence and be effective beginning on the Effective Date and, unless terminated earlier as provided in Article
X, shall continue in effect for (i) two (2) years from the Effective Date or (ii) if the Parties pursue
a Commercialization Plan in accordance with this Agreement,  five (5) years from the Effective Date (the
“Term”).

 

Article IV

RESEARCH AND DEVELOPMENT OF [*] PRODUCTS

 

Section 4.01.        Project Plan.

 

(a)   
Within two (2) months of the Effective Date, the Parties shall create a project plan that contains the details concerning
the scope of work, protocols, specifications, schedule of

 

 

[*] Certain portions denoted with an asterisk have been omitted
and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

 

    	 	Page 7

     

    

 

activities, timeline, milestones (including the
R&D Targets and the Nenter Targets) and participating Personnel with respect to (i) Amyris’ research and development
of [*] Products and (ii) Nenter’s research and development of a cost-effective high-conversion rate conversion process from
[*] to [*] (the “Project Plan”);

 

(b)   
Amyris shall use commercially reasonable efforts to diligently research and develop [*] Products, including achieving
the R&D Targets.

 

(c)  
Nenter shall use commercially reasonable efforts to diligently research and develop a cost-effective conversion
process from [*] to [*], including achieving the Nenter Targets.

 

(d)  
Each Party shall each provide reports to the JSC on reasonable intervals (but not less than once per quarter) detailing
the progress such Party has made with respect to achieving the targets.

 

(e)   
For the avoidance of doubt, the Collaboration is a research project whereby the successful completion thereof, including
the achievement of the R&D Targets and/or the Nenter Targets, is not assured and, as long as each Party uses its commercially
reasonable efforts to diligently perform its respective obligations, such Party shall not be in default or breach under this Agreement
for any failure to achieve the R&D Targets or Nenter Targets, as applicable, or any particular result or milestone. The details
concerning the scope of work, protocols, specifications, timeline and milestones of the Collaboration (including the R&D Targets
and the Nenter Targets) will be agreed by the Parties in the Project Plan created by the Parties pursuant to Section 4.01(a).

 

Section 4.02.       
Project Plan Modifications. Either Party may propose changes to the Project Plan to the other Party from time
to time as appropriate in light of changed circumstances. Any change to the Project Plan will require unanimous approval of the
JSC in accordance with Section 2.04. In the event that a proposed change to the Project Plan is not approved by the JSC
as provided by the immediately preceding sentence, the

then-current Project Plan shall remain in effect.

 

Section 4.03.       
Commercialization Plans. Upon the JSC making the decision set forth in Section 2.03(a)(iv) and if Nenter
exercises the Warrant in accordance with the terms and conditions therein, the Parties shall pursue one (1) of the following Commercialization
Plans:

 

(a)               
[*] Commercialization Plan. Within one (1) year of the [*] Achievement Date, the Parties shall establish
a joint venture company (the “JV”) in China (or another location as mutually agreed by the Parties) that shall
manufacture and commercialize [*] based on terms and conditions that are mutually agreed by the Parties, whereby:

 

(i)         
Nenter shall own a majority of the outstanding equity interest of the JV; and

 

(ii)        
Amyris shall grant the JV an exclusive, royalty-free, worldwide license to the necessary Patents and Know-How
owned by Amyris solely for the purposes of manufacturing and selling [*] in the Field of Use. Amyris

 

 

[*] Certain portions denoted with an asterisk have been omitted
and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

 

    	 	Page 8

     

    

 

shall not be responsible for contributing or providing any
capital or tangible assets (including any tangible assets required for the construction and operation of a facility to manufacture
[*]) to the JV, and the sole contribution by Amyris to the JV shall be the global exclusive license to the Patents and Know-How
and the relevant technology of Amyris in the immediately preceding sentence.

 

(b)        
[*] Conversion Commercialization Plan. If (i) Amyris achieves the R&D Targets applicable to the production
of [*] and (ii) Nenter achieves the Nenter Targets, the Parties shall establish and implement a worldwide manufacturing and commercialization
plan of [*] in the Field of Use, upon terms and conditions that are mutually agreed by the Parties, whereby:

 

1.                 
Nenter shall, itself or through any of its Affiliates, within one (1) year of the [*] Achievement Date, initiate
the construction of a facility located in [*] that shall use [*] [*] to manufacture [*] in the Field of Use;

 

2.                 
If Amyris decides, due to existing capacity constraints, to construct a new facility for the sole purpose of manufacturing
[*] as part of a joint venture with a third party, Amyris shall provide Nenter with a right of priority to enter into such
joint venture with Amyris.  Amyris shall provide Nenter with notice of such decision to enter into such a joint venture and
Nenter shall have thirty (30) days from the date of such notice to agree to participate in such joint venture. If Nenter does not
agree to participate in such joint venture or otherwise fails to respond within thirty (30) days after the date of such notice,
then Amyris shall be permitted to enter into such joint venture with any third party; and

 

3.                 
Amyris shall grant Nenter the global exclusive purchase right for such [*] (which such global exclusive purchase
right may be suspended if Nenter fails to initiate the facility construction in accordance with Section 4.03(b)(1)); provided
that, in the event of such suspension, Amyris shall grant Nenter a global non-exclusive purchase right for such [*]) and Nenter
shall (i) not use such [*] for any purpose other than in the Field of Use; (ii) not re-sell or otherwise transfer such [*] to
any third party; (iii) be required to purchase a mutually-agreed minimum amount of such [*] each year after Nenter exercises such
option and (iv) not engage, without Amyris’ prior written consent, in any discussions or negotiations with any third party
regarding any actual or potential supply agreement or similar arrangement relating to [*].

 

Article V

INTELLECTUAL PROPERTY

 

Section 5.01.       
Ownership of Intellectual Property.

 

 

[*] Certain portions denoted with an asterisk have been omitted
and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

 

    	 	Page 9

     

    

 

(a)         
As between the Parties, Nenter acknowledges that all right, title and interest in and to any Intellectual Property
(i) owned by Amyris as of the Effective Date and (ii) created by Amyris, its Affiliates or any of their respective Personnel after
the Effective Date (whether or not created in connection with fulfilling its obligations under this Agreement) shall remain the
sole and exclusive property of Amyris. No license is granted herein by or to Nenter with respect to or under any of Amyris’
Intellectual Property.

 

(b)               
Amyris shall own all, right, title and interest in and to any Intellectual Property created by Nenter, its Affiliates
or any of their respective Personnel that relates to the composition, use or manufacture of [*] Products (other than creating
a cost-effective conversion process from [*] to [*] developed by Nenter that do not relate primarily to [*] Products), including
the strain construction, fermentation, and scaling up of [*] through biotechnology, and Nenter hereby assigns, and shall cause
such Affiliates and such Personnel to assign, all right, title and interest in and to such Intellectual Property to Amyris. Nenter
shall promptly notify Amyris within thirty (30) days of any such Intellectual Property created by Nenter. The Parties agree that
all such Intellectual Property created by Nenter shall be included in the exclusive license granted by Amyris to the JV under
Section 4.03(a)(ii).

 

(c)              
Nenter shall own all, right, title and interest in and to any Intellectual Property created by Amyris, its Affiliates
or any of their respective Personnel that relates to the creation of a cost-effective conversion process from [*] to [*] developed
by Nenter pursuant to the Project Plan that does not relate primarily to [*] Products, and Amyris hereby assigns, and shall cause
such Affiliates and such Personnel to assign, all right, title and interest in and to such Intellectual Property to Nenter. Amyris
shall promptly notify Nenter within thirty (30) days of any such Intellectual Property created by Amyris.

 

Section 5.02.       
Infringement Proceedings. Nenter shall promptly notify Amyris in writing of any actual or suspected infringement,
violation or misappropriation of Amyris’ Intellectual Property that Nenter becomes aware of. Amyris shall have the sole right,
but not the obligation, to prosecute or defend against any infringement, violation or misappropriation of its or third party’s
Intellectual Property and other similar Actions against or by third parties (collectively, “Assertions”). If
requested by Amyris, Nenter shall reasonably cooperate with Amyris in any such Assertions at Amyris’ expense (including,
upon the request of Amyris, joining as a plaintiff or defendant in any such Assertion). Unless otherwise agreed by the Parties,
any award, or portion of an award, recovered in any such Assertion shall belong solely to Amyris.

 

Article VI

CONSIDERATION

 

Section 6.01.       
Warrant. Promptly following the Effective Date, in consideration of Nenter’s undertakings and covenants
in this Agreement and the performance of its obligations hereunder, Amyris shall issue a Warrant to Nenter in accordance with the
terms and conditions contained therein. Amyris shall notify and provide reasonable assistance to Nenter, at Nenter’s expense
and within ninety (90) days of Nenter paying the Warrant Exercise Price, with respect to

 

 

[*] Certain portions denoted with an asterisk have been omitted
and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

 

    	 	Page 10

     

    

 

any application and filing procedure in accordance
with applicable Law or the rules of the Nasdaq Stock Market associated with Nenter’s exercise of the Warrant. The funds paid
by Nenter for its exercise of the Warrant shall be legally sourced and otherwise in compliance with applicable Laws. If for any
reason the exercise of the Warrant in accordance with the terms and conditions contained therein is deemed invalid or illegal under
applicable Law or Amyris fails to obtain any approval, registration or filing that is required by Amyris for Nenter to lawfully
exercise the Warrant, Amyris shall, within ten (10) days’ prior written notice from Nenter of such invalidity or illegality,
refund the Warrant Exercise Price to Nenter to a bank account that shall be designated by Nenter in such notice.

 

Article VII

REPRESENTATIONS AND WARRANTIES

 

Section 7.01.       
Representations and Warranties of Amyris. Amyris represents and warrants to Nenter that, except (i) as disclosed
in the public filings of Amyris or (ii) as would not cause a Material Adverse Change, to the knowledge of Amyris, as of the Effective
Date:

 

(a)         
Organization and Authority. Amyris is a company duly incorporated and validly existing under the laws of the
State of Delaware, United States, and has the capacity, right, power and authority to execute and perform its obligations under
this Agreement.

 

(b)         No Conflict. The execution and performance by Amyris of its obligations under this Agreement do not:

 

(i)         
conflict with or result in the breach of any of the terms, conditions or provisions of, or constitute a material
default or require any consent under, any indenture, mortgage, agreement or other instrument or arrangement to which it is a party
or by which it is bound;

 

(ii)        
 violate any of the terms or provisions of its charter or by-laws (or similar organizational documents), as applicable;
or

 

(iii)       
violate any authorization, judgment decree or order or any Law applicable to Amyris.

 

(c)               
No Immunity. No property owned by Amyris is entitled to immunity from set-off, suit, execution or attachment
with respect to Amyris’ obligations under this Agreement.

 

(d)              
No Material Adverse Change. Since the date that is one (1) year prior to the Effective Date, and other than
in the ordinary course of business consistent with past practice, there has not been any:

 

(i)          
event, occurrence or development that has resulted in a change in the ongoing conduct of business of Amyris that
has had, or could reasonably be expected to have, a Material Adverse Change;

 

(ii)        
material change to a material contract or agreement by which Amyris or any of its material assets is bound or subject;
or

 

 

[*] Certain portions denoted with an asterisk have been omitted
and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

 

    	 	Page 11

     

    

 

(iii)       
written notice received by Amyris that contemplates a loss of, or material cancelation of an order from, any material
customer of Amyris.

 

(e)               
Litigation.

 

(i)         
Except as set forth in Section 7.01(k), there are no Actions pending against or by Amyris affecting any of
its properties or assets, which if determined adversely to the Company (or to Seller or any Affiliate thereof) would result in
a Material Adverse Change.

 

(ii)        No judgment or order has been issued by a Governmental Authority against Amyris.

 

(f)          
Compliance with Law. Amyris is and has, since the date that is one (1) year prior to the Effective Date, been
in compliance with all applicable Laws.

 

(g)         
Insurance. Amyris maintains insurance policies with reputable insurance carriers who are financially solvent.
Amyris has not received written notice that such policies are not in full force and effect, and all premiums due on such policies
have been paid and Amyris is otherwise in compliance in all material respects with the terms of such policies.

 

(h)        
Labor Matters. There exists no material activity or proceeding of any labor union to organize Amyris’
employees nor ongoing or threatened strikes, slowdowns or work stoppages by employees of Amyris or employees of any contractor
of Amyris, with respect to any material operations of Amyris. Amyris has complied in all material respects with all applicable
labor laws, regulations and rules, and has paid all wages, social benefits and other funds required to be paid to its employees
and/or applicable Governmental Authorities in all material respects.

 

(i)          
Restriction on Business Activities. There is no agreement, judgment, injunction, order or decree binding upon
Amyris which has the effect of restricting or impairing its acquisition of property or the conduct of its business as it is currently
conducted.

 

(j)          
Real Property. Amyris has good and valid title to, or a legal and valid leasehold interest in, all real property
owned, leased or subleased by Amyris.

 

(k)         
Ongoing Operation. There are no Actions pending or threatened in writing to effectuate the bankruptcy or insolvency
(or similar status) of Amyris.

 

(l)               
Intellectual Property. Except for the pending opposition proceedings by [*], there are no Actions pending
that contest the validity or enforceability of any Patents owned by Amyris.

 

Section 7.02.       
Representations and Warranties of Nenter. Nenter hereby represents and warrants to Amyris that, as of the
Effective Date:

 

 

[*] Certain portions denoted with an asterisk have been omitted
and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

 

    	 	Page 12

     

    

 

(a)         
Organization and Authority. Nenter is a company duly incorporated and validly existing under the laws of the
People’s Republic of China, and has the capacity, right, power and authority to execute and perform its obligations under
this Agreement.

 

(b)         
No Conflict. The execution and performance by Nenter of its obligations under this Agreement do not:

 

(i)         
conflict with or result in the breach of any of the terms, conditions or provisions of, or constitute a material
default or require any consent under, any indenture, mortgage, agreement or other instrument or arrangement to which it is a party
or by which it is bound;

 

(ii)        
violate any of the terms or provisions of its charter or by-laws (or similar organizational documents), as applicable;
or

 

(iii)       
violate any authorization, judgment decree or order or any Law applicable to Nenter.

 

Section 7.03.         No Other
Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, AMYRIS HEREBY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES, WHETHER
WRITTEN, ORAL, EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING ALL IMPLIED WARRANTIES OF MERCHANTABILITY, QUALITY, FITNESS
FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT AND WARRANTIES ARISING FROM A CUSTOM OF TRADE, COURSE OF DEALINGS, USAGE OR TRADE PRACTICE,
THE ACCURACY, COMPLETENESS, SAFETY, USEFULNESS FOR ANY PURPOSE OR LIKELIHOOD OF SUCCESS (COMMERCIAL, REGULATORY OR OTHER) OF THE
[*] PRODUCTS AND ANY OTHER TECHNICAL INFORMATION, TECHNIQUES, MATERIALS, METHODS, PRODUCTS, PROCESSES OR PRACTICES AT ANY TIME
MADE AVAILABLE BY AMYRIS. WITHOUT LIMITING THE FOREGOING, AMYRIS SHALL HAVE NO LIABILITY WHATSOEVER TO NENTER OR ANY OTHER PERSON
FOR OR ON ACCOUNT OF ANY INJURY, LOSS, OR DAMAGE, OF ANY KIND OR NATURE, SUSTAINED BY, OR ANY DAMAGE ASSESSED OR ASSERTED AGAINST,
OR ANY OTHER LIABILITY INCURRED BY OR IMPOSED ON NENTER OR ANY OTHER PERSON, ARISING OUT OF OR IN CONNECTION WITH OR RESULTING
FROM: (A) THE MANUFACTURE, USE, OFFER FOR SALE, SALE, OR IMPORT OF A [*] PRODUCT; (B) THE USE OF OR ANY ERRORS OF OMISSIONS
IN ANY KNOW-HOW, TECHNICAL INFORMATION, TECHNIQUES, OR PRACTICES DISCLOSED BY AMYRIS; OR (C) ANY ADVERTISING OR OTHER PROMOTIONAL
ACTIVITIES CONCERNING ANY OF THE FOREGOING.

 

Article VIII

LIMITATIONs OF liability; indemnification

 

Section 8.01.       
Exclusion of Consequential and Other Indirect Damages. EXCEPT FOR ANY DAMAGES RESULTING FROM A PARTY’S
GROSS NEGLIGENCE, FRAUD OR INTENTIONAL MISCONDUCT, TO THE FULLEST EXTENT PERMITTED BY LAW, NEITHER PARTY SHALL BE LIABLE TO THE
OTHER PARTY OR ANY

 

 

[*] Certain portions denoted with an asterisk have been omitted
and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

 

    	 	Page 13

     

    

 

OTHER PERSON FOR ANY INJURY TO OR LOSS OF GOODWILL,
REPUTATION, BUSINESS, PRODUCTION, REVENUES, PROFITS, ANTICIPATED PROFITS, CONTRACTS OR OPPORTUNITIES (REGARDLESS OF HOW THESE
ARE CLASSIFIED AS DAMAGES), OR FOR ANY CONSEQUENTIAL, INCIDENTAL, INDIRECT, EXEMPLARY, SPECIAL, PUNITIVE OR ENHANCED DAMAGES WHETHER
ARISING DIRECTLY OR INDIRECTLY OUT OF THIS AGREEMENT OR THE RESEARCH, DEVELOPMENT, MANUFACTURE OR SALE OF [*] PRODUCTS, OUT OF
BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, PRODUCT LIABILITY OR OTHERWISE (INCLUDING THE ENTRY INTO, PERFORMANCE
OR BREACH OF THIS AGREEMENT), REGARDLESS OF WHETHER SUCH LOSS OR DAMAGE WAS FORESEEABLE OR THE PARTY AGAINST WHOM SUCH LIABILITY
IS CLAIMED HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSS OR DAMAGE, AND NOTWITHSTANDING THE FAILURE OF ANY AGREED OR OTHER
REMEDY OF ITS ESSENTIAL PURPOSE.

 

Section 8.02.       
Liquidated Damages. In the event Nenter requests a refund of the Warrant Exercise Price in accordance with
Section 6.01, and Amyris fails to fully refund the Warrant Exercise Price when due in accordance with Section 6.01,
Amyris shall pay Nenter liquidated damages of ten percent (10%) of the Warrant Exercise Price, compounded annually beginning on
the day after the date upon which such refund was due.

 

Section 8.03.       
Indemnification.

 

(a)         
Amyris shall indemnify and defend Nenter, its Affiliates and its and their respective Personnel (each, a “Nenter
Indemnified Party”) from and against any and all damages, losses, liabilities and expenses (including reasonable attorneys’
fees and expenses) incurred or suffered by any such Nenter Indemnified Party to the extent based on or arising from any breach
by Amyris or its Personnel of this Agreement, including claims brought by a third party pertaining thereto, other than claims for
which Nenter is obligated to indemnify Amyris pursuant to Section 8.03(b).

 

(b)         
Nenter shall indemnify and defend Amyris, its Affiliates and its and their respective Personnel (each, an “Amyris
Indemnified Party”) from and against any and all damages, losses, liabilities and expenses (including reasonable attorneys’
fees and expenses) incurred or suffered by any such Amyris Indemnified Party to the extent based on or arising out of any breach
by Nenter or its Personnel of this Agreement, including claims brought by a third party pertaining thereto, other than claims for
which Amyris is obligated to indemnify Nenter pursuant to Section 8.03(a).

 

(c)         
The indemnification obligations in Section 8.03(a) and 8.03(b) are subject to the Party receiving indemnification
thereunder (the “Indemnified Party”) giving the other Party (the “Indemnifying Party”), as
applicable, (i) written notice of any third party claim for which indemnification is sought promptly after the Indemnified
Party receives written notice of such claim; provided, however, that the failure to provide prompt notice shall not
relieve the Indemnifying Party of its indemnification obligations except to the extent that the Indemnifying Party is adversely
prejudiced by such failure; and (ii) sole control of the defense of such claim and reasonably cooperating with the Indemnifying
Party in such defense at the Indemnifying

 

 

[*] Certain portions denoted with an asterisk have been omitted
and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

 

    	 	Page 14

     

    

 

Party’s expense; provided, however,
that the Indemnifying Party shall not enter into any settlement of any such claim without each Indemnified Party’s prior
written consent, such consent not to be unreasonably withheld. Notwithstanding the foregoing, if the Indemnifying Party fails to
assume the defense as required by this Section 8.03(c) within thirty (30) days after notice from the Indemnified Party of
the applicable third party claim (or within such shorter time as is reasonably required by the circumstances) or fails diligently
to pursue such defense, or there is a conflict or potential conflict of interest between the Indemnifying Party and the Indemnified
Party, then the Indemnified Party may assume the defense of such third party claim at the Indemnifying Party’s expense, and
the Indemnifying Party shall cooperate with the Indemnified Party at the Indemnifying Party’s expense in such defense.

 

(d)         
Neither Party may (i) bring an Action against the other Party, (ii) seek indemnification from the other Party pursuant
to this Section 8.03 or (iii) terminate this Agreement pursuant to Section 10.01, in each case of (i) – (iii),
due to a breach of this Agreement by the other Party if more than one (1) year has passed from the date such Party learned of such
breach, which such date shall be evidenced by a written notice delivered to the other Party.

 

Article IX

CONFIDENTIALITY

 

Section 9.01.        
Duty to Furnish Confidential Information. Except as expressly required in this Agreement, neither Party shall
have any obligation to furnish any Confidential Information to the other Party.

 

Section 9.02.       
Confidentiality Obligations. Each Party (the “Receiving Party”) acknowledges that, in connection
with this Agreement, it will gain access to Confidential Information of the other Party (the “Disclosing Party”).
As a condition to being provided with Confidential Information, the Receiving Party shall, during the Term and for ten (10) years
thereafter:

 

(a)         
not use or reproduce the Disclosing Party’s Confidential Information other than as necessary to exercise its
rights and perform its obligations under this Agreement;

 

(b)         
maintain the Disclosing Party’s Confidential Information in strict confidence and, subject to Section 9.03,
not disclose the Disclosing Party’s Confidential Information without the Disclosing Party’s prior written consent;
provided, however, that the Receiving Party may disclose the Confidential Information to its Personnel who:

 

(i)         
have a need to know the Confidential Information for purposes of the Receiving Party’s performance, or exercise
of its rights concerning the Confidential Information, under this Agreement;

 

(ii)        
have been apprised of this restriction; and

 

(iii)       
are themselves bound by written nondisclosure agreements, or are otherwise subject to nondisclosure obligations,
at least as restrictive as those set forth in this Section 9.02; provided, further, that the Receiving Party
shall be

 

    	 	Page 15

     

    

 

responsible for ensuring its Personnel’s compliance with,
and shall be liable for any breach by its Personnel of, this Section 9.02.

 

The Receiving Party shall use reasonable care
(which shall be at least as protective as the efforts it uses for its own Confidential Information) to safeguard the Disclosing
Party’s Confidential Information from use or disclosure other than as permitted herein.

 

Section 9.03.       
Exceptions. If the Receiving Party becomes legally compelled by any Governmental Authority to disclose any
Confidential Information, the Receiving Party shall:

 

(a)   
provide prompt written notice to the Disclosing Party so that the Disclosing Party may seek a protective order or
other appropriate remedy or waive its rights under this Section 9;

 

(b)  
work with the Disclosing Party in an effort to seek an appropriate protective order or other remedy to prevent or
limit public disclosure of such Confidential Information; and

 

(c)   
disclose only the portion of Confidential Information that it is legally required to furnish.

 

Section 9.04.       
Equitable Remedies. Each Party acknowledges and agrees that, due to the proprietary and competitively sensitive
nature of the other Party’s Confidential Information, the Disclosing Party may be irreparably harmed in the event of any
breach, or threatened breach, of provisions of this Agreement, and that monetary damages may not constitute a sufficient remedy
as a result thereof. Accordingly, each Party agrees that in the event of any such breach or threatened breach of this Section
9, the Disclosing Party, in addition to any other remedies it may have at law or in equity, shall be entitled to seek equitable
relief, including injunctive relief or specific performance or both in any court of competent jurisdiction.

 

Section 9.05.       
Third Parties. Each Party further acknowledges that certain information, materials or other products that
may be supplied to a Party under this Agreement may be proprietary to third parties. In the event that this occurs, the Parties
agree that such third parties may impose obligations on the Receiving Party, directly or through the Disclosing Party, regarding
use, non-analysis, disposition, inventory tracking and record keeping regarding such materials.

 

Article X

TERMINATION

 

Section 10.01.     
Termination for Cause. In the event that either Party fails to comply with any material term or condition
of this Agreement and such failure materially affects the interest of the other Party to enter into this Agreement, then such other
Party, in addition to any other remedies it may have at law or in equity, shall have the right to terminate this Agreement on written
notice stating the reason for termination, after first having delivered sixty (60) days’ prior written notice to the breaching
Party, unless, within such sixty (60) day period, the breaching Party remedies the condition(s) giving rise to the Party’s
termination right under this Section 10.01 .

 

    	 	Page 16

     

    

 

Section 10.02.     
No Prejudice; Effect of Termination. Except as set forth in this Agreement, the termination of this Agreement
for any reason shall not affect any liabilities or obligations of either Party arising before such termination or out of the events
causing such termination, or any damages or other remedies to which a Party may be entitled under this Agreement, at law or in
equity.

 

Section 10.03.      
Exception. Either Party may terminate this Agreement, without being construed as such Party’s default
of this Agreement, if an applicable Governmental Authority in any jurisdiction disapproves of or refuses to authorize the main
purpose of the Collaboration (if applicable or required) under this Agreement. For the avoidance of doubt, this Agreement shall
not be effective, and the terms and conditions of this Agreement shall have no force or binding effect, until the date of the shareholders’
meeting whereby Guanfu Holding Co., Ltd., the sole shareholder of Nenter, approves this Agreement, which approval (or disapproval)
must be provided within ten (10) days of the date hereof.

 

Section 10.04.     
Survival. The provisions of this Agreement which, by their nature and content, are intended, expressly or
impliedly, to continue to have effect notwithstanding the completion, rescission, termination, or expiration of this Agreement,
shall survive and continue to bind the Parties, including Articles I, V, VI, VII, VIII and XI
and Sections 10.02 and 10.04.

 

Article XI

GENERAL PROVISIONS

 

Section 11.01.      
Force Majeure. If either Party is wholly or partially prevented from, or delayed in performing, any of its
obligations hereunder, in either case, by reason of events beyond the applicable Party’s reasonable control (including elements
of nature or acts of God, fire, explosion, natural disasters, floods, earthquakes, embargoes, strikes, epidemics, pandemics, war,
acts of terrorism, nuclear disasters, riots, civil disorders, rebellions or revolutions in any country, failure of a third party
telecommunications provider, Internet provider or utility or other similar events, to the extent that such events (i) were not
caused due to the intentional acts or omissions, negligence or malfeasance of the affected Party or (ii) cannot reasonably be circumvented
by the affected Party through the use of commercially reasonable alternate sources, work-around plans or other means of equal or
lesser cost to the affected Party) (each, a “Force Majeure Event”), then, the affected Party shall not be responsible
for the failure or delay caused by such Force Majeure Event, and the time for performance shall be extended for a period equal
to the duration of the Force Majeure Event. Upon the occurrence of a Force Majeure Event, the affected Party shall notify the other
Party in writing thereof as promptly as reasonably practicable and provide an estimate of the expected delay in performance due
to such Force Majeure Event. The affected Party shall use commercially reasonable efforts to minimize the impact of any Force Majeure
Event on its performance.

 

Section 11.02.     
Expenses. Except as otherwise specified in this Agreement, all costs and expenses, including all taxes, fees
instituted by a Governmental Authority or fees and disbursements of counsel, financial advisors and accountants, incurred in connection
with this Agreement and the transactions contemplated by this Agreement shall be borne by the Party incurring such costs and expenses.

 

    	 	Page 17

     

    

 

Section 11.03.     
Relationship of the Parties. Each Party is an independent contractor relative to the other Party under this
Agreement. This Agreement is not a partnership agreement, and, except as set forth in Section 4.03(a), nothing in this Agreement
shall be construed to establish a relationship of co-partners or joint venturers between the Parties. No employee or representative
of a Party, per this Agreement, shall have any authority to bind or obligate the other Party or to create or impose any contractual
or other liability on the other Party.

 

Section 11.04.     
No Assignment. Without the prior written consent of the other Party, neither Party may sell, transfer, assign,
delegate, pledge or otherwise dispose of, whether voluntarily, involuntarily, by operation of law or otherwise, this Agreement
or any of its rights or duties hereunder (except that Nenter is entitled to sell or transfer the warrant shares under this Agreement).
Any assignment or delegation or attempted assignment or delegation not in accordance with this Section 11.04 shall be null
and void. This Agreement shall be binding upon and inure solely to the benefit of the Parties and their permitted successors and
assigns.

 

Section 11.05.     
Third Party Beneficiaries. All rights, benefits, and remedies under this Agreement are solely intended for
the benefit of the Parties and their respective permitted successors and assigns. No third party shall have any rights whatsoever
to enforce any obligation contained this Agreement, seek a benefit or remedy for any breach, or take any other action relating
to this Agreement under any legal or equitable theory.

 

Section 11.06.      
Entire Agreement. This Agreement represents the entire agreement between the Parties regarding the subject
matter hereof and supersedes all previous communications, representations, understandings and agreements, whether oral or written,
by or between the Parties with respect to the subject matter of this Agreement.

 

Section 11.07.     
Amendments. This Agreement may be amended or waived if, and only if, such amendment or waiver is in writing
and signed, in the case of an amendment, by both Parties or, in the case of a waiver, by the Party against whom the waiver is to
be effective. No failure or delay by either Party in exercising any right, power or privilege hereunder (other than a failure or
delay beyond a period of time specified herein) shall operate as a waiver thereof, nor shall any waiver by a Party of any term
or condition of this Agreement in any one (1) or more instances, be deemed to be or construed as a waiver of the same or any other
term or condition of this Agreement on any future occasion.

 

Section 11.08.     
Severability. If any provision of this Agreement should be held invalid, illegal or unenforceable in any jurisdiction,
the Parties shall negotiate in good faith a valid, legal and enforceable substitute provision that most nearly reflects the original
intent of the Parties and all other provisions hereof shall remain in full force and effect in such jurisdiction and shall be liberally
construed in order to carry out the intentions of the Parties as nearly as may be possible. Such invalidity, illegality or unenforceability
shall not affect the validity, legality or enforceability of such provision in any other jurisdiction. Nothing in this Agreement
shall be interpreted so as to require a Party to violate any applicable Laws.

 

Section 11.09.     
Use of Amyris’ Name by Nenter. Amyris hereby grants Nenter an authorization to use the name and related
Trademarks of Amyris for the purpose of marketing

 

    	 	Page 18

     

    

 

and promoting [*] Products hereunder; provided
that (a) Amyris must give Nenter prior consent to each such use in advance in writing, (b) Nenter shall at all times represent
in each such use that such name and related Trademarks are owned by Amyris when in use and (c) any and all goodwill, rights or
interests that might be acquired by such use shall inure to the sole benefit of Amyris.

 

Section 11.10.     
Governing Law and Settlement of Disputes.

 

(a)         
This Agreement will be governed by and construed in accordance with the laws of the State of Delaware, excluding
any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to
the substantive law of another jurisdiction.

 

(b)         
Subject to Section 2.04, Any dispute, controversy or claim arising out of or relating to this Agreement, including
any contractual, pre-contractual or non-contractual rights, obligations or liabilities and any question regarding the existence,
validity, interpretation, breach of termination or invalidity hereof, shall be resolved through arbitration conducted at and in
accordance with the rules and procedures of arbitration of the Hong Kong International Arbitration Center, as may be modified as
agreed to by the Parties in writing. The arbitration shall be heard by three (3) arbitrators. Each Party shall nominate
one (1) arbitrator within five (5) Business Days after the dispute is submitted to arbitration and the two (2) Party-nominated
arbitrators shall select the third arbitrator within five (5) days following the nomination of the second Party-nominated arbitrator.
If either Party fails to nominate an arbitrator or the two (2) Party-nominated arbitrators fail to select a third arbitrator,
in each case, the arbitrator(s) shall be selected by the Hong Kong International Arbitration Center. Following selection of the
arbitral tribunal, upon the request of the Parties, the arbitral tribunal shall hear the Parties’ presentations within thirty
(30) days of such request. The arbitration proceedings shall be concluded within thirty (30) days after commencement of such proceedings.
Within ten (10) Business Days of the conclusion of the arbitration proceedings, the arbitral tribunal shall present to the Parties
a written decision regarding the dispute, which shall set forth the findings of fact and conclusions of law relied upon in reaching
the decision. The place of arbitration shall be Hong Kong. The language of the arbitration shall be English. Subject to Section
11.10(a), the arbitral tribunal shall have the authority to determine questions and challenges to its own jurisdiction, including
questions regarding the validity and scope of this Agreement. The decision of the arbitral tribunal shall be final and binding
on the Parties and either Party may enter the decision of the arbitral tribunal for judgment in a court of competent jurisdiction.
The existence of any arbitration commenced pursuant to this Section 11.10(b) shall be treated as Confidential Information
of each Party for purposes of this Agreement and subject to the terms of Section 9.

 

Section 11.11.     
Notices. All notices, consents, claims, waivers, requests and other communications hereunder shall be in writing
and shall be delivered by email to the following address of each Party:

 

if to Nenter:

 

 

[*] Certain portions denoted with an asterisk
have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with
respect to the omitted portions

    	 	Page 19

     

    

 

Nenter & Co., Inc.

197 Oriental Road, High Tech Development Zone

Jingzhou, Hubei Province, 434000

Attention: Chairman of the Board of Directors

Attention: Chief Engineer

 

if to Amyris:

 

Amyris, Inc.

5885 Hollis Street, Ste. 100

Emeryville, CA 94608

Attention: CEO

Attention: General Counsel

 

Any such notices, consents, claims, waivers, requests and other communications
sent by email shall be deemed to be delivered twenty-four (24) hours after such email is sent.

 

Section 11.12.     
Interpretation. This Agreement is written and executed in, and all amendments or other communications under
or in connection with this Agreement shall be in, the English language. When a reference is made in this Agreement to Articles,
Sections, Schedules or Exhibits, such reference shall be to an Article, Section, Schedule or Exhibit to this Agreement unless otherwise
indicated. The words “include,” “includes,” and “including” when used herein shall be deemed
in each case to be followed by the words “without limitation” and shall not be construed to limit any general statement
that it follows to the specific or similar items or matters immediately following it. The headings and captions in this Agreement
are for convenience and reference purposes only and shall not be considered a part of or affect the construction or interpretation
of any provision of this Agreement. Words of any gender include the other gender, and words using the singular or plural number
also include the plural or singular number, respectively. All references to “dollars” shall be deemed references to
United States dollars. Each Party acknowledges and agrees it has had the opportunity to draft, review and edit the language of
this Agreement and that no presumption for or against any Party arising out of drafting all or any part of this Agreement will
be applied in any controversy, claim or dispute relating to, in connection with or involving this Agreement. Accordingly, the Parties
hereby waive the benefit of any rule of Applicable Law and any successor or amended statute, or any legal decision that would require
that in cases of uncertainty, the language of a contract should be interpreted most strongly against the Party that drafted such
language.

 

Section 11.13.     
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same instrument. This Agreement may be executed by facsimile
or other electronic signatures (including exchange of emailed .pdf files), and such signatures shall be deemed to bind each Party
as if they were original signatures.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK; SIGNATURES FOLLOW]

 

 

 

 

 

    	 	Page 20

     

    

 

IN WITNESS WHEREOF, the Parties
have caused this Agreement to be executed by persons duly authorized.

 

	 	NENTER & CO., INC.	 
	 	 	 
	 	 	 
	 	 	 
	 	Signature:	/s/ Lie Quan Chen 	 
	 	 	 	 
	 	Name:	Lie Quan Chen 	 
	 	 	 	 
	 	Title:	Chairman of the Board 	 
	 	 	 	 
	 	Signature Date:	October 26, 2016	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	AMYRIS, INC.	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	Signature:	/s/ Raffi Asadorian 	 
	 	 	 	 
	 	Name:	Raffi Asadorian 	 
	 	 	 	 
	 	Title:	Chief Financial Officer 	 
	 	 	 	 
	 	Signature Date:	October 24, 2016 	 

 

 

 

 

 

 

 

Schedule A to Cooperation Agreement

     

     

    

 

EXHIBIT A

 

Form of Warrant

 

[See attached.]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit A to Cooperation Agreement

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