Document:

EX-10.2

 Exhibit 10.2 
 SOLAZYME DEVELOPMENT AGREEMENT 
 This Solazyme Development Agreement
(“Agreement”) is entered into as of March 30, 2012 (the “Effective Date”), by and among Solazyme Bunge Renewable Oils Coöperatief U.A., a Netherlands Cooperative with a place of business at 225 Gateway
Boulevard, South San Francisco, CA 94080 (the “Company”), Solazyme Bunge Produtos Renováveis Ltda., a Brazilian limitada with a principal place of business at Fazenda Moema, s/n, Zona Rural, Orindiúva, São
Paulo, 15480-000, Brazil (“SB Oils”, and together with the Company, each a “JV Company” and collectively, the “JV Companies”), Solazyme, Inc., a Delaware company with a principal place of business
at 225 Gateway Boulevard, South San Francisco, CA 94080 (“Solazyme, Inc.”) and Solazyme Brasil Óleos Renováveis e Bioprodutos Ltda., a Brazilian limitada with a principal place of business at Avenida Pierre Simon de
Laplace, 751 – Campinas/SP, CEP 13063-32, Brazil (“Solazyme Brazil”, and collectively with Solazyme, Inc. and its Affiliates, the “Solazyme Group”). 

W I T N E S S E T H: 

WHEREAS, the Bunge Group is a global processor of soybeans, rapeseed, canola, sunflower seeds, corn, wheat, sugar cane and other
agricultural commodities used to make products and ingredients with numerous applications; 
 WHEREAS, the Solazyme Group
is engaged in the renewable oil and bioproducts business, with expertise and intellectual property in the area of the use of microbes as biocatalysts for converting carbon sources into lipids in non-photosynthetic processes; 

WHEREAS, Solazyme Brazil is an Affiliate of Solazyme, Inc., through which Solazyme, Inc. conducts its business in Brazil;

 WHEREAS, certain members of the Bunge Group have access to feedstock, such as sugar cane, that could be useful in
conjunction with the Solazyme Group’s microbial biotechnology to develop and commercialize Products manufactured in the Manufacturing Territory for use in the Field in the Use Territory; 

WHEREAS, Solazyme, Inc. and Bunge Global Innovation, LLC (“BGI”) have entered into a Joint Development Agreement
dated May 2, 2011 (the “Joint Development Agreement”), wherein Solazyme, Inc. and BGI have agreed to engage in joint research and development to explore the feasibility of the production of lipid rich biomass from Brazilian
sugar cane feedstock as further set forth in the Joint Development Agreement; 
 WHEREAS, on the date hereof, certain
members of the Solazyme Group and certain members of the Bunge Group entered into a Joint Venture Agreement (the “Joint Venture Agreement”) and certain ancillary agreements to establish, through the JV Companies, a joint venture to
construct a production facility (the “Initial Plant”), operate the Initial Plant and produce Products in the Manufacturing Territory for use in the Field in the Use Territory (the “Joint Venture”); 

WHEREAS, subject to the terms and conditions set forth herein, Solazyme, Inc. and Solazyme Brazil wish to license to the Company,
and the Company wishes to sublicense to SB Oils, certain Technology of Solazyme, Inc. and Solazyme Brazil that is necessary or useful for the conduct of the business of the Joint Venture; and 

  
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 WHEREAS, Solazyme, Inc. desires to provide certain research and development, and
technical support services to the JV Companies. 
 NOW, THEREFORE, in consideration of the agreements and obligations set
forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, do hereby agree as follows: 

ARTICLE 1 
 DEFINITIONS AND INTERPRETATION 
 1.1 Defined Terms. Capitalized
terms used in this Agreement shall have the meanings specified herein or in Exhibit A. 
 1.2 Interpretation.
Whenever the context requires, any pronoun shall include the corresponding masculine, feminine and neuter forms. Terms defined in the singular shall have the same meanings when used in the plural and vice versa. The words “include,”
“includes” and “including” shall be deemed to be followed by the phrase “without limitation.” References to statutes or regulations include all statutory or regulatory provisions consolidating, amending or replacing the
statute or regulation referred to herein. All references to “Party” and “Parties” shall be deemed references to parties to this Agreement. Except as specifically otherwise provided in this Agreement, a reference to
an Article, Section or Exhibit is a reference to an Article, Section or Exhibit of this Agreement, and the terms “hereof,” “herein,” and other like terms refer to this Agreement as a whole, including the Exhibits. The
term “or” is used in its inclusive sense (“and/or”). The terms “Dollars” and “$” shall mean United States Dollars. The terms “Reais” and “R$” shall mean
Brazilian Reais. 
 1.3 Headings. The division of this Agreement into Articles and Sections and the insertion of
headings are for convenience of reference only and shall not affect the construction or interpretation of this Agreement. 

ARTICLE 2 
 PROJECT–BASED RESEARCH AND DEVELOPMENT 
 2.1 Research and
Development Projects. 
 (a) Project Plans. Subject to the terms and conditions of this Agreement, Solazyme, Inc.
shall conduct one or more Research and Development Projects on behalf of the Company in accordance with written plans in substantially the form attached to Exhibit B, each of which will describe the research and development activities to be
conducted by Solazyme, Inc., and, if applicable, by the Company, in the applicable Research and Development Project (each, a “Project Plan”). Each Project Plan will also include a budget of such projects together

  

					
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respect to the omitted portions. 

 
with associated timelines, work plan, resources, payments and other terms and conditions agreed by the parties to the Project Plan. It is contemplated that there may be multiple Project Plans
that shall be sequentially numbered referencing different Research and Development Projects, and such agreed-upon Project Plans shall each be attached as part of Exhibit B and incorporated herein. Each Project Plan may be amended by written
agreement of the parties to the Project Plan. Solazyme, Inc. will provide, and may not withhold its agreement to provide, project based research and development services and will enter new Project Plans associated therewith on commercially
reasonable terms to the extent requested by the Company, as long as members of the Solazyme Group have research and development capacity to render such services. 
 (b) Responsibility – Solazyme. During the term of the applicable Research and Development Project, Solazyme, Inc. shall use commercially reasonable efforts to conduct its activities as set
forth in the applicable Project Plan and seek to achieve the goals set forth therein within the time and budget set forth therein. The Solazyme Group shall not be entitled to reimbursement for any activity(ies) conducted under a Project Plan in an
amount that exceeds the budgeted amount(s) for such activity(ies) in the Project Plan. Except as provided in Section 2.1(a), no member of the Solazyme Group shall, without its respective written consent, be required to perform research or
development activities in connection with a particular Research and Development Project, obtain any Third Party license or incur any expense other than as set forth in the applicable Project Plan. 

(c) Responsibility – Company. During the term of the applicable Research and Development Project, the Company shall use
commercially reasonable efforts to conduct its respective activities as set forth in the applicable Project Plan and seek to achieve the goals set forth therein within the time and budget set forth therein. Notwithstanding any other provision of
this Agreement, no JV Company shall, without its respective written consent, be required to perform research or development activities in connection with a particular Research and Development Project, obtain any Third Party license or incur any
expense other than as set forth in the applicable Project Plan. 
 2.2 Research Project Term. The term of each Research
and Development Project shall be as set forth in the applicable Project Plan (the “Project Term”). The parties to each Project Plan may determine whether to extend the Research and Development Project for an additional period, and
if they agree to extend the Research and Development Project, will agree in writing upon a research and/or development plan for such additional period, the duration of such period and budget, work plan, timelines, resources, payments and other terms
and conditions for such period. 
 2.3 Research Records. The Solazyme Group and the JV Companies shall maintain complete
and accurate records of their respective activities under the applicable Research and Development Projects (or cause such records to be maintained) in sufficient detail and in good scientific manner as will properly reflect all work done and results
achieved in the performance of the Research and Development Project (and in a form and in detail information sufficient to establish dates of conception and reduction to practice of any Solazyme Project Technology). 

  

					
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respect to the omitted portions. 

 2.4 Reports. Solazyme, Inc. and the Company shall present to each other, reports
describing (a) the Project Plan activities that they have performed, or caused to be performed, since the preceding meeting on a schedule as provided in the Project Plan, evaluating the work performed in relation to the goals and timeline of
the Project Plan, and (b) their research and development activities in process and the future activities they expect to initiate, as compared to the Project Plan. In addition, Solazyme, Inc. and the Company shall report promptly to each other
any material developments with respect to activities that they are responsible for performing under the Project Plan. 
 2.5
Employees; Contractors. Solazyme, Inc. and Solazyme Brazil agree that they will not permit an employee or contractor (or any employee or contractor of a member of the Solazyme Group) to conduct work on or related to this Agreement or the
Project Plans unless such employee or contractor has executed a written agreement in favor of Solazyme, Inc. or Solazyme Brazil containing (i) confidentiality provisions no less stringent than those contained in this Agreement and
(ii) provisions assigning to Solazyme, Inc. or Solazyme Brazil any invention or discovery made by such employee or contractor in connection with the performance of the applicable Project Plan(s). 

2.6 Technology Ownership. All Technology resulting from the Research and Development Projects (“Solazyme Project
Technology”) whether made by a JV Company or a member of the Solazyme Group, or jointly by a JV Company, on the one hand, and a member of the Solazyme Group, on the other hand, shall be owned, as among the JV Companies and the Solazyme
Group, by Solazyme, Inc., but shall be subject to the licenses provided in Article 6. 
 2.7 Funding. The Company shall
provide funding for the Research and Development Projects to Solazyme, Inc. as provided in the Project Plan and at the Fully-Loaded Cost of the Solazyme, Inc. personnel providing the services. 

ARTICLE 3 
 MATERIAL TRANSFER 
 3.1 Materials; Limited Use. 

(a) Transfer of Materials. In the course of the Research and Development Projects, a Party or one of its Affiliates (the
“Transferring Party”) may transfer to another Party or one of its Affiliates (the “Recipient”), chemical or biological materials (e.g., microbes, products of microbe conversion such as triglyceride oils, biomass,
etc.). The provisions of this Agreement, including Articles 6, 8 and 10, shall apply to such materials, as well as to any progeny or modifications thereof (original materials, progeny and modified materials are collectively referred to as
“Transferred Materials”). 
 (b) Limited Rights. The Recipient agrees not to (a) use the
Transferred Materials received from the Transferring Party for any purpose other than to conduct the Research and Development Project(s) for which they were provided, or attempt to (b) determine the sequence of, modify, or otherwise duplicate
or substantially reproduce any of the Transferred Materials. 

  

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

 (c) Results. The Recipient will promptly disclose to the Transferring Party any data
generated, summaries, and conclusions generated in connection with any use, testing and evaluation of the Transferred Materials (“Results”) as described in the applicable Project Plan or as otherwise requested by the Transferring
Party. The Results, and related reports, shall be deemed to be Confidential Information subject to the terms of Article 10. 

(d) Transfer. The Recipient may distribute portions of the Transferred Materials to any of its Affiliates or any contractor or
agent providing services to a JV Company in the ordinary course of business (each, an “Authorized Transferee”), but may not otherwise distribute any of the Transferred Materials to any Third Party without the written consent of the
Transferring Party; provided, however, that a Recipient shall require any Authorized Transferee to which it intends to distribute any portion of the Transferred Materials to undertake written obligations limiting transfer and use at least as
stringent as those set forth in this Section 3.1. Notwithstanding the foregoing, except as contemplated in a Project Plan, no Recipient may distribute any algae strain to a Third Party without the prior consent of Solazyme, Inc. 

(e) Nature of Transferred Materials. The Recipient acknowledges that the Transferred Materials may be experimental in nature and
may have unknown characteristics and therefore agrees to use prudence and reasonable care in the use, handling, storage, transportation and disposition and containment of the Transferred Materials. The Transferring Party shall inform the Recipient
of any handling hazards of which the Transferring Party is aware regarding the original Transferred Materials provided by the Transferring Party. Further, at the time of delivery, the Transferring Party will provide to the Recipient a MSDS for such
Transferred Materials, if applicable. 
 ARTICLE 4 

PLATFORM RESEARCH AND DEVELOPMENT 
 4.1 Research and Development. During the term of this Agreement, the Solazyme Group will continue to conduct research and development activities potentially applicable to the Products, the Field,
the Plant(s) and the Plant(s)’s operations. Such research and development is expected to include strain development, molecular biology and process development and shall be conducted in accordance with the research and development plans of
Solazyme, Inc., as determined by it from time to time (collectively, “Solazyme Platform Research”). 
 4.2
Solazyme Platform Technology. All Technology resulting from the Solazyme Platform Research that is owned or Controlled by the Solazyme Group on or prior to the Maintenance Termination Date shall be “Solazyme Platform
Technology.” Solazyme, Inc. will report to the JV Companies, not less than twice per year (approximately six months apart), on the progress of activities being done in the Solazyme Platform Research that Solazyme, Inc. reasonably believes
could be of benefit to the operations of the JV Companies. At such meetings, and otherwise, the JV Companies or any member of the Bunge Group may suggest 

  

					
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respect to the omitted portions. 

 
areas of research exploration in the areas of the production of triglyceride oils through Microbe-Based Catalysis that might benefit the JV Companies, and Solazyme, Inc. will reasonably consider
such suggestions in planning and carrying out its research and development programs. 
 4.3 Funding. Payment by the
Company to Solazyme, Inc. for the Solazyme Platform Research performed by the Solazyme Group resulting in Solazyme Platform Technology (the 

“Technology Maintenance Fee”) shall be equal to *; provided, however, that if the Solazyme Group incurs less than * in research
and development expenses in any such year, then the Technology Maintenance Fee payable by the Company for such year shall be equal to the greater of (i) * of the actual research and development expenses incurred by the Solazyme Group for that
year and (ii) *. Notwithstanding the foregoing, if the Solazyme Group does not conduct a reasonable level of research and development in the area of the production of triglyceride oils through Microbe-Based Catalysis that, if successful, likely
would provide substantial benefit to the JV Companies, then the Company shall have an option to discontinue all further payments of the Technology Maintenance Fee by written notice to Solazyme, Inc. Findings of “reasonable level of
research” and “likely would provide substantial benefit” as provided in the immediately preceding sentence shall be made by the Board pursuant to Articles 6 and 19 of the Joint Venture Agreement, as applicable. The Company shall pay
the yearly amount due hereunder in four (4) equal installments after each calendar quarter, prorated on a daily basis for any partial calendar quarter. 
 ARTICLE 5 
 TECHNICAL SERVICES 

5.1 Technical Services. Solazyme, Inc. will provide technical services to assist the JV Companies in the operation of the
Plant(s). All Technology resulting from such technical services (“Solazyme Technical Services Technology”) shall be owned by Solazyme, Inc. Such technical services will include: 

(a) Direct access to a qualified Solazyme, Inc. technical service representative who will act as a single point of contact for the JV
Companies. For the first * after the Initial Plant is operational, and * if requested by either of the JV Companies, such representative’s primary work location will be on-site at the Initial Plant. Thereafter, such representative could be
remotely located. It is currently contemplated that the person serving as such representative will change from time-to-time as the character of the support (engineering, process development, commissioning, operating) changes. 

(b) Technical services from Solazyme, Inc., including Plant(s) and Microbe performance monitoring and assessment, product analysis, data
review, operating procedure consultation, and process engineering support for ongoing Plant(s) operations. 
 (c) If a JV
Company desires to implement any Solazyme Platform Technology in any of the Plant(s), Solazyme, Inc. will provide appropriate personnel with expertise in technology transfer and scale-up of the subject Technology for such time as reasonably
necessary to facilitate the transfer and implementation of such Solazyme Platform Technology in such Plant(s). 

  

					
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respect to the omitted portions. 

 (d) Maintaining back-up start-up vials of Microbes that are used in the Plant(s) in
sufficient quantities to supply to the Plant(s) in the event of an emergency, and providing samples of such to the JV Companies. Such back-up source shall include at least one master cell bank at Solazyme Brazil and another at Solazyme, Inc. The
quantity of each source of back-up start-up vials must at all times be sufficient to restart operations of SB Oils within * of all Microbes used by SB Oils in production of Products being destroyed. 

5.2 Funding. 
 (a) All technical services provided by Solazyme, Inc. to assist the JV Companies in the operation of the Plant(s) will be performed by Solazyme, Inc. at its Fully-Loaded Cost, or, if agreed amongst the
relevant Parties, according to another fee arrangement. Payment for such services shall be made by the Company to Solazyme, Inc. 
 (b) Beginning with the Commencement of Construction of the Initial Plant and thereafter for * (each such year beginning on Commencement of Construction or anniversary thereof and ending one year later, a
“Retainer Year”), unless otherwise mutually agreed, the Company will pay a non-refundable retainer to Solazyme, Inc. of * per year (approximately * full-time equivalent employees), payable in four (4) equal installments
quarterly (prorated by business days for any partial calendar quarter) in advance on the first day of each calendar quarter, as a prepayment of such technical services, from which the cost of technical services actually incurred shall be deducted;
provided, however, that any excess retainer payments (i.e. if the aggregate cost of the technical services provided to the JV Companies for the Retainer Year are less than *) at the end of the Retainer Year shall be neither further creditable
nor refundable. The purpose of this retainer is to allow Solazyme, Inc. to maintain sufficient personnel on staff to meet the technical service requirements of the JV Companies. Solazyme, Inc. shall provide a monthly statement showing in reasonable
detail the quantity of technical services provided hereunder in the applicable month and the Fully-Loaded Cost thereof. Once the Fully-Loaded Cost of the technical services provided to the JV Companies in any quarter exceeds the aggregate amount of
the retainer paid so far in the Retainer Year, then the Company shall pay to Solazyme, Inc., the amount of such excess. If the combination of quarterly payments made by the Company to Solazyme, Inc. for a given calendar year exceeds * but the
actually Fully-Loaded Cost of the technical services provided to the JV Companies in such year is less than *, then Solazyme, Inc. shall promptly refund to the Company the difference between the amount actually paid by the Company and *. 

ARTICLE 6 
 LICENSES 
 6.1 Solazyme License to the Company and Sublicense to SB
Oils. Subject to the terms and conditions of this Agreement, (i) Solazyme, Inc. and Solazyme Brazil hereby grant to the Company and (ii) the Company hereby grants to SB Oils, a non-exclusive, royalty-free license/sublicense, with the
right to grant and authorize sublicenses through multiple tiers, under the rights, title and interest of the Solazyme Group in and to: 
 (a) all of its Background Technology existing on or prior to the Maintenance Termination Date; 

  

					
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respect to the omitted portions. 

 (b) the Solazyme JDA Technology; 

(c) the Solazyme Project Technology; 
 (d) the Solazyme Platform Technology; and 
 (e) the Solazyme Technical Services
Technology; 
 in each case, solely to make and have made in the Plant(s), use, offer for sale and sell Products manufactured in the
Manufacturing Territory for use in the Field in the Use Territory. 
 6.2 Company and SB Oils License to Solazyme, Inc.
Subject to the terms and conditions of this Agreement (x) SB Oils grants to the Company, and (y) the Company grants to Solazyme, Inc.: 
 (a) a non-exclusive, royalty-free license, with the right to grant and authorize sublicenses through multiple tiers, under the JV Company Technology (other than JV Company Technology that is either
Microbe Technology or Oil Processing Technology), solely: 
 (i) to make and have made products made outside of
the Manufacturing Territory for use, sale, offer for sale and import inside the Use Territory for any and all applications and purposes in the Secondary Field, or outside of the Use Territory for any and all applications, purposes and fields of use;
and 
 (ii) to make or have made products made inside the Manufacturing Territory: 

(A) for use, sale, offer for sale and import inside of the Use Territory for any and all applications, purposes and fields
of use outside of the Primary Field; and 
 (B) for use, sale, offer for sale and import outside of the Use
Territory for any and all applications, purposes and fields of use. 
 (b) an exclusive (subject to the license/sublicense in
Section 6.1), worldwide, royalty-free license, with the right to grant and authorize sublicenses through multiple tiers, under the JV Company Technology that is Microbe Technology for any and all applications, purposes and fields of use.

 6.3 Solazyme Tradename License. Subject to the terms and conditions of this Agreement, (i) Solazyme, Inc. hereby
grants to the Company and (ii) the Company hereby grants to SB Oils, a limited, non-exclusive, royalty-free, non-transferable license, without the right to 

  
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sublicense, to the Solazyme trademark “Solazyme” solely as part of the name of each of the JV Companies for their use in connection with their respective operations; provided, however,
that such Solazyme trademark shall be used only in conjunction with the Bunge trademark “Bunge”. Such license shall terminate if and when members of the Solazyme Group own, collectively, less than ten percent (10%) of the outstanding
and issued securities of the Company. 
 6.4 Solazyme Third Party Agreements. 

(a) With respect to any Technology that Solazyme, Inc. seeks to in-license, if Solazyme, Inc. reasonably believes such Technology (if
licensed to the JV Companies) would be of benefit to the operations of the JV Companies in the Field, then Solazyme, Inc. shall present such license opportunity to the JV Companies. The JV Companies will then have ten (10) days from the date of
presentation to instruct Solazyme, Inc. as to whether it wishes Solazyme, Inc. to attempt to obtain the right to sublicense such rights to the JV Companies of equivalent scope as the rights licensed pursuant to Section 6.l and upon such terms
as would be acceptable to the JV Companies. Solazyme, Inc. shall also use reasonable efforts to ensure that any in-license opportunity allows Solazyme, Inc. to make such a presentation to the JV Companies. If instructed to do so within such 10-day
period, Solazyme, Inc. shall then use reasonable efforts to obtain such sublicense rights. Unless any such Third Party Agreement permits sublicensing to one or more of the JV Companies without payment, without any restrictions on the conduct of the
JV Companies business (other than Field and territory restrictions consistent with Section 6.1 as applicable to the Technology licensed) and without any other obligations, such as to grant licenses back to any Technology, Patents or other
intellectual property owned by or licensed to any of the JV Companies, to the Third Party of the Third Party Agreement, such Technology shall not be deemed part of the Technology licensed pursuant to Section 6.1. unless and until either of the
JV Companies notifies Solazyme, Inc. of the desire of one or more of the JV Companies to be licensed thereunder. Solazyme, Inc. acknowledges that neither the JV Companies nor their licensees/sublicensees have any obligation to Solazyme, Inc. or any
other Person concerning any Third Party Agreement unless specifically agreed in writing by the applicable JV Company(ies). The JV Companies acknowledge that in the event Solazyme, Inc. is not able to obtain the right to sublicense to the JV
Companies the applicable rights, or permit disclosure to the JV Companies of the terms of the in-license, despite the use of reasonable efforts do so, Solazyme, Inc. nonetheless shall be permitted to enter into such agreement with such Third Party
for use of the Technology. 
 (b) The JV Companies acknowledge that certain Technology within the scope of rights granted in
Section 6.1 may after the Effective Date become licensed to Solazyme, Inc. pursuant to, or otherwise be subject to, the terms of, a Third Party Agreement, and that the licenses granted by Solazyme, Inc. in Section 6.1 with respect to
Technology licensed to Solazyme, Inc. after the Effective Date, will, subject to Section 6.4(a), be subordinate to the terms of any such Third Party Agreement. 
 (c) The JV Companies further acknowledges that, with respect to Technology licensed to Solazyme, Inc. pursuant to or otherwise subject to the terms of a Third Party Agreement, the licenses granted by
Solazyme, Inc. in Section 6.1 may, subject to Section 6.4(a), result in payment, indemnification and/or other obligations by Solazyme, Inc. to the Third Party as a consequence of the grants made in Section 6.1 and/or practice of such
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Companies agree that they shall only receive such a license or sublicense if one or more of the JV Companies agrees in writing, in a form reasonably acceptable to the applicable JV Company(ies)
and Solazyme, Inc., to pay any such amounts and/or perform any other obligations due in connection with the grant of the license or sublicense to the applicable JV Company(ies) or practice of such license or sublicense by the applicable JV
Company(ies) or their sublicensee(s) (which payments may include royalties on product sales by a JV Company or its sublicensees), and to otherwise comply with the terms of such Third Party Agreement applicable to the activities of the applicable JV
Company. 
 (d) Solazyme, Inc. (1) shall use reasonable efforts to either (x) maintain in force and effect any Third
Party Agreement for which a JV Company has accepted in writing the obligations therein, or (y) assign the Third Party Agreement to the JV Company(ies) if so desired by the applicable JV Company(ies), and (2) may not, without the advance
written consent of the applicable JV Company(ies), amend or modify the terms of any such Third Party Agreement in any way that materially affects the rights granted to the applicable JV Company(ies) hereunder (including the cost to the applicable JV
Company(ies)), and Solazyme, Inc. shall provide to the applicable JV Company prompt notice thereof at least forty-five (45) days prior to any applicable deadline. 
 6.5 Right to Sublicense. Subject to the other terms and conditions of this Agreement, including, without limitation, Section 6.4 and this Section 6.5, any JV Company may grant sublicenses
under the licenses granted in Section 6.1 as it deems appropriate, but such sublicenses may only grant rights within the scope of the rights granted under Section 6.1 and only with the prior written consent of Solazyme, Inc., such consent
not to be unreasonably withheld, delayed or conditioned. 
 6.6 Company Third Party Agreements. In connection with the
manufacture of Products in the Manufacturing Territory for use in the Field in the Use Territory, in any agreement that a JV Company or any of its respective sublicensees enters with a Third Party relating to the manufacture, sale or use of any
Product, whether a license agreement, distribution agreement, supply agreement or other agreement, the applicable JV Company shall ensure that any such agreement shall include provisions that (i) prohibit the manufacture of any Product outside
the Manufacturing Territory, (ii) prohibit the sale of any Product for any use outside the Field, (iii) prohibit the sale of any Product for any use outside the Use Territory, and (iv) prohibit the export of any Product outside of the
Use Territory. 
 6.7 No Other Licenses. This Agreement grants no Party any licenses in or to any intellectual property
Controlled by such Party or its Affiliates, whether by implication, estoppel, or otherwise, other than the licenses that are expressly granted in this Article 6. 
 ARTICLE 7 
 PAYMENTS; PAYMENT REPORTS; AUDITS 

7.1 Invoices. Solazyme, Inc. shall issue invoices for each payment provided in Sections 2.7, 4.3 and 5.2, and the Company shall
pay the amount due within thirty (30) days of receipt of invoice. Such invoices shall be accompanied by sufficient back-up documentation to support each such payment. 

  

					
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 7.2 Payment Method; Late Payments. All payments due under this Agreement shall be
made by bank wire transfer in immediately available funds to a bank account designated by the applicable Party. All payments shall be made in the currency provided in the applicable invoice and shall be non-creditable and non-refundable, except as
provided in Section 5.2(b). Any payments that are not paid on the date such payments are due under this Agreement shall bear interest at the lesser of (i) the prime rate (as reported by the Bank of America, San Francisco, California) for
payments in Dollars, or CDI multiplied by 1.2 for payments in Reais, in each case on the date such payment is due, plus an additional two percent (2%) or (ii) the maximum rate permitted by law in the jurisdiction such payments are due, in
each case calculated on the number of days such payment is delinquent. Nothing in this Section shall prejudice any other rights or remedies available to any Party hereunder or at law or equity. 

7.3 Taxes. 
 (a) The Company will bear, and will indemnify the members of the Solazyme Group for, all Taxes imposed on amounts payable under this Agreement or as a result of a JV Company’s receipt of property or
services under this Agreement, except for any net income Taxes imposed upon any member of the Solazyme Group (all such non-excluded Taxes, “Indemnified Taxes”). All payments made under this Agreement shall be made free and clear of
any Taxes, unless a Party is required to withhold or deduct Taxes under Applicable Law. If a Party is required to withhold or deduct any amount for or on account of any Indemnified Taxes from any payment made pursuant to this Agreement, the
applicable Party will pay such additional amounts (“Additional Amounts”) to the applicable member of the Solazyme Group as may be necessary so that the net amount (including Additional Amounts) received by the applicable member of
the Solazyme Group after such withholding or deduction (including any withholding or deduction in respect of Additional Amounts) will not be less than the amount the applicable member of the Solazyme Group would have received if such Indemnified
Taxes had not been withheld or deducted. 
 (b) Any Tax required to be withheld under Applicable Law on amounts payable under
this Agreement will promptly be paid by the applicable Party on behalf of the applicable member of the Solazyme Group to the appropriate governmental authority, and the applicable Party will furnish the applicable member of the Solazyme Group with
proof of payment of such tax. 
 (c) The Parties will reasonably cooperate with respect to all documentation required by any
taxing authority or reasonably requested by the applicable Party to secure a reduction in the rate of applicable withholding Taxes. 

  

					
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 ARTICLE 8 

INVENTIONS AND PATENTS 
 8.1 Ownership. 
 (a) Background Technology. As among the Parties,
each Party retains ownership of its own Background Technology. 
 (b) Certain Other Solazyme Technology. As among the
Parties, Solazyme, Inc. shall solely own all Solazyme JDA Technology, Solazyme Project Technology, Solazyme Platform Technology and Solazyme Technical Services Technology. 
 (c) JV Company Technology. As among the Parties, the Company shall solely own all JV Company Technology. 
 (d) Inventorship; Authorship. Inventorship and rights of ownership of inventions and discoveries made in the performance of this Agreement, whether or not patentable, and regardless of where made
shall be determined in accordance with U.S. patent law. Authorship and rights of ownership of copyrightable works made in the performance of this Agreement shall be determined in accordance with U.S. copyright law. 

8.2 Patent Prosecution. 
 (a) Solazyme. As among the Parties, Solazyme, Inc. shall have the right, at its sole discretion and cost, to prepare, file, prosecute and maintain, all patent applications and patents with respect
to (i) the Background Technology of the Solazyme Group, (ii) the Solazyme Project Technology, (iii) the Solazyme Platform Technology, (iv) Solazyme JDA Technology and (v) the Solazyme Technical Services Technology, and to
conduct any interferences, re-examinations, reissues, oppositions or requests for patent term extension or governmental equivalents thereto. 
 (b) JV Companies. As among the Parties, the Company shall have the right, at its sole discretion and cost, to prepare, file, prosecute and maintain, all patent applications and patents with respect
to the JV Company Technology, and to conduct any interferences, re-examinations, reissues, oppositions or requests for patent term extension or governmental equivalents thereto. Notwithstanding the foregoing, in the event that the Company elects in
writing not to exercise (or fails to commence such exercise within thirty (30) days from receipt of a written request to do so from Solazyme, Inc.) any of the rights described in this Section 8.2(b) with respect to any JV Company
Technology that is Microbe Technology, then Solazyme, Inc. shall have the right (but not the obligation) to exercise such rights, at its sole cost and expense. 
 (c) Cooperation. The Parties shall each, at its own expense, reasonably cooperate with and help another Party in connection with its activities under Sections 8.1 and 8.2, at the requesting
Party’s request, including the execution of any assignment documents or other actions necessary to vest ownership as set forth in Section 8.1. 
 8.3 Enforcement. 
 (a) Solazyme. As among the Parties, Solazyme, Inc.
shall have the sole right, but not the obligation, at its sole cost, to take legal action to enforce or defend any declaratory action or counterclaim with respect to any Patents contained in (i) its Background Technology,

  

					
		 	12	 	CONFIDENTIAL

 
(ii) the Solazyme Project Technology, (iii) the Solazyme Platform Technology, (iv) Solazyme JDA Technology and (v) the Solazyme Technical Services Technology, and to settle any
such action. Solazyme, Inc. shall retain all recoveries or awards relating to such infringing activity or proceedings. 
 (b)
JV Companies. As among the parties, the Company shall have the sole right, but not the obligation, at its sole cost, to take legal action to enforce or defend any declaratory action or counterclaim with respect to any Patents contained in the
JV Company Technology, and to settle any such action. Notwithstanding the foregoing, in the event that the Company elects in writing not to take legal action to enforce or defend any declaratory action or counterclaim (or fails to give notice to
Solazyme, Inc. of its intent to do the foregoing within thirty (30) days from receipt of a written request to do so from Solazyme, Inc.) with respect to any JV Company Technology that is Microbe Technology, then Solazyme, Inc. shall have the
right (but not the obligation) to enforce or defend any declaratory action or counterclaim in regard to such Microbe Technology, at its sole cost and expense, and to settle any such action. 

(c) Cooperation. Each Party agrees to render such reasonable help in connection with enforcement activities described in this
Section 8.3 as the enforcing Party may request. Except as otherwise agreed, costs of maintaining any such action shall be paid by and any recoveries shall belong to the Party(ies) bringing the action. 

8.4 Common Interest Disclosures. With regard to any information or opinions disclosed pursuant to this Agreement by one Party to
another Party regarding intellectual property or technology owned by Third Parties or any Party (or their respective Affiliates), the Parties agree that they have a common legal interest in determining whether, and to what extent, Third Party
intellectual property rights may affect the conduct of the Joint Venture and the research and development contemplated under this Agreement, and have a further common legal interest in defending against any actual or prospective Third Party claims
based on allegations of misuse or infringement of intellectual property rights relating to the Joint Venture and the research and development conducted under this Agreement. All information and materials will be treated as protected by the
attorney-client privilege, the work product privilege, and any other privilege or immunity from discovery that may otherwise be applicable. By sharing any such information and materials, no Party intends to waive or limit any privilege or immunity
from discovery that may apply to the shared information and materials. No Party shall have the authority to waive any privilege or immunity on behalf of any other Party without such other Party’s prior written consent, nor shall the waiver of
privilege or immunity resulting from the conduct of one Party be deemed to apply against another Party. 
 ARTICLE 9

 REPRESENTATIONS AND WARRANTIES 
 9.1 Solazyme Representations and Warranties. Solazyme, Inc. hereby represents and warrants to the Company that, as of the Effective Date: 

(a) to the Knowledge of Solazyme, (i) the practice of its Background Technology as contemplated in the JV Agreements can be
practiced in the Manufacturing 

  

					
		 	13	 	CONFIDENTIAL

 
Territory and Use Territory without infringing any Patent of any Third Party and (ii) the disclosure to the JV Companies or use by the JV Companies of any Confidential Information provided
by it or its Affiliates under this Agreement does not and will not constitute misappropriation of trade secrets or infringement of copyrights of any Third Party; 
 (b) none of the Technology or Patents licensed to the JV Companies under this Agreement includes any Technology or Patent not owned by Solazyme, Inc., other than incidental research licenses in the
ordinary course of business that do not restrict commercial exploitation of the Products; 
 (c) all fees payable to any
governmental authority to issue or maintain in effect the Patents licensed to the JV Companies under this Agreement in the Manufacturing Territory and Use Territory and due before the Effective Date have been paid in full in a timely manner, and, to
the Knowledge of Solazyme, (i) all such issued or granted Patents are valid and enforceable and (ii) there exist no facts that would render any such issued or granted Patents invalid or unenforceable; 

(d) to the Knowledge of Solazyme, no Person is infringing, misappropriating or otherwise violating any of the Technology or Patents
licensed to the JV Companies under this Agreement or any foreign counterparts thereof; 
 (e) to the Knowledge of Solazyme,
(i) none of the Technology or Patents licensed to the JV Companies under this Agreement nor any foreign counterparts thereof are the subject of any court order, litigation, claim, demand, dispute, summons, reexamination or opposition,
cancellation or other inter partes proceeding and (ii) none of such things are threatened; 
 (f) no Person has
notified Solazyme, Inc. in writing, or, to the Knowledge of Solazyme, orally, that Solazyme, Inc.’s or any of its licensee’s practice of any of the Technology or Patents licensed to the JV Companies under this Agreement and foreign
counterparts thereof infringe, misappropriate or otherwise violate or will infringe, misappropriate or otherwise violate the intellectual property rights of any Person. 
 9.2 Disclaimer. The Parties each specifically disclaim any representation, warranty or guarantee that any research and development provided for in this Agreement will be successful, in whole or in
part. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT, THE PARTIES MAKE NO REPRESENTATIONS AND EXTEND NO WARRANTIES OR CONDITIONS OF ANY KIND, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE JV COMPANY TECHNOLOGY, SOLAZYME JDA TECHNOLOGY,
SOLAZYME PROJECT TECHNOLOGY, SOLAZYME PLATFORM TECHNOLOGY, SOLAZYME TECHNICAL SERVICES TECHNOLOGY, SOLAZYME BACKGROUND TECHNOLOGY, ANY INFORMATION DISCLOSED HEREUNDER, ANY TRANSFERRED MATERIALS, OR ANY MATERIALS, AND HEREBY EXPRESSLY DISCLAIM ANY
WARRANTIES OF MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, OR VALIDITY OF ANY JV COMPANY TECHNOLOGY, SOLAZYME JDA TECHNOLOGY, SOLAZYME PROJECT TECHNOLOGY, SOLAZYME PLATFORM TECHNOLOGY, SOLAZYME TECHNICAL SERVICES TECHNOLOGY, OR SOLAZYME
BACKGROUND TECHNOLOGY, PATENTED OR UNPATENTED, OR NON-INFRINGEMENT OF THE INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES. 

  

					
		 	14	 	CONFIDENTIAL

 ARTICLE 10 

CONFIDENTIALITY 
 10.1 Confidentiality Obligations. All information disclosed by one Party or its Affiliate to another Party or its Affiliate pursuant to this Agreement shall be the “Confidential
Information” of the Party who disclosed it (or the Party whose Affiliate disclosed it) for all purposes hereunder. Each Party agrees that, during the Term and for five (5) years after the termination of this Agreement, such Party
shall, and shall ensure that its Affiliates and its and their respective officers, directors, employees and agents shall, keep completely confidential (using at least the same standard of care as it uses to protect proprietary or confidential
information of its own, but in no event less than reasonable care) and not publish or otherwise disclose, any Confidential Information or materials furnished to it by another Party or its Affiliates (including, without limitation, know-how of the
disclosing Party or its Affiliates). The foregoing obligations shall not apply to any information disclosed by a Party or its Affiliates hereunder to the extent that the receiving Party can demonstrate with competent evidence that such Confidential
Information: 
 (a) was already known to the receiving Party or its Affiliates, other than under an obligation of
confidentiality to the disclosing Party, at the time of disclosure; 
 (b) was generally available to the public or otherwise
part of the public domain at the time of its disclosure to the receiving Party or its Affiliates; 
 (c) became generally
available to the public or otherwise part of the public domain after its disclosure and other than through any act or omission of the receiving Party or its Affiliates in breach of this Agreement; 

(d) was subsequently lawfully disclosed to the receiving Party or its Affiliates by a Third Party other than in contravention of a
confidentiality obligation of such Third Party to the disclosing Party or its Affiliates; or 
 (e) was developed or discovered
by employees of the receiving Party or its Affiliates who had no access to the Confidential Information of the disclosing Party or its Affiliates. 
 Specific information shall not become exempt from the obligations herein merely because it is embraced by general information within any of the exceptions according to Section 10.1 (a) –
(e) above. Combinations of parts of information are not exempt from the obligations herein if any of the exceptions of Section 10.1 (a) – (e) applies only to such parts but not to their combination. 

  

					
		 	15	 	CONFIDENTIAL

 A receiving Party shall notify the disclosing Party immediately upon discovery of any
unauthorized use or disclosure of Confidential Information or any other breach of this Article 10 by the receiving Party or its Affiliates, and shall cooperate with the disclosing Party and its Affiliates in every reasonable way to help the
disclosing Party and its Affiliates regain possession of such Confidential Information and to prevent its further unauthorized use. 
 10.2 Authorized Disclosure. A Party or its Affiliates may disclose the Confidential Information belonging to another Party or its Affiliates to the extent such disclosure is reasonably necessary in
the following instances: 
 (a) filing or prosecuting Patents as permitted in this Agreement with the advance written consent of
the disclosing Party, such consent not to be unreasonably withheld, conditioned or delayed; 
 (b) regulatory filings with any
governmental authority necessary for the activities contemplated under this Agreement; 
 (c) disclosure required by applicable
securities laws and regulations (including Nasdaq rules), provided, however, that the disclosure therein is limited to the extent necessary, as determined by securities counsel for the Party seeking to make such disclosure, and provided such
Party endeavors to obtain confidential treatment of any disclosed information to the extent allowed under Applicable Law; 
 (d)
in connection with the performance of this Agreement, to Affiliates, sublicensees, research collaborators, employees, consultants, subcontractors or agents, each of whom prior to disclosure must be bound by similar obligations of confidentiality and
non-use at least equivalent in scope to those set forth in this Article 10; or 
 (e) in connection with litigation to which a
Party is a party or otherwise as required by valid court order or legal process; provided, however, that such Party gives the disclosing Party advance notice of such required disclosure, limits the disclosure to that actually required as
determined by counsel for the Party seeking to make such disclosure, and cooperates in any other Party’s attempts to obtain a protective order or confidential treatment of the information required to be disclosed. 

10.3 Confidentiality of Agreement Terms. The Parties acknowledge that the terms of this Agreement shall be treated confidentially
as Confidential Information of all the Parties. Notwithstanding the foregoing, (a) such terms may be disclosed by a Party in the context of a potential transaction to investment bankers, investors, and potential investors, licensees, or
acquirers and their respective advisors, each of whom prior to disclosure must be bound by similar obligations of confidentiality and non-use at least equivalent in scope to those set forth in this Article 10 and (b) a copy of this Agreement
may be filed by a Party with the U.S. Securities and Exchange Commission if required by applicable securities laws and regulations, as determined by securities counsel for the Party seeking to make such filing. In connection with any such filing,
such Party shall endeavor to obtain confidential treatment of economic and trade secret information, research and development information (such as Exhibit B), and other competitively sensitive information of each Party, to the extent allowed,
as reasonably determined by securities counsel for the Party seeking to make such disclosure. In addition, Solazyme, Inc. may disclose the definition of “Products”, “Field”, “Manufacturing Territory”

  

					
		 	16	 	CONFIDENTIAL

 
and “Use Territory” to licensees and potential licensees of its Technology to the extent that it is necessary to enable Solazyme, Inc. to license its Technology outside the scope of the
licenses granted to the Company hereunder; provided, however, that the licensee or potential licensee has undertaken written confidentiality obligations at least as stringent as those set forth in this Article 10. 

ARTICLE 11 
 INDEMNIFICATION 
 11.1 Indemnification. 

(a) Indemnity Obligation to the Solazyme Group. 

(i) From the Company. The Company agrees to indemnify and hold harmless, each of the members of the Solazyme Group,
and each of their respective officers, directors, employees and agents (each a “Solazyme Indemnitee”) from and against all actions, claims, losses, liabilities, costs and expenses (including, without limitation, reasonable
attorneys’ and expert fees) and/or judgments and/or amounts paid in settlement that any Solazyme Indemnitee may suffer as a result of any Third Party claims, demands, actions or other proceedings to the extent arising out of or in connection
with: (i) any breach or inaccuracy of any of the representations, warranties and/or covenants in this Agreement of any of its Company Indemnitees; and/or (ii) any acts (whether of omission or commission) by any of its Company Indemnitees
and/or its sublicensees, relating to the development, manufacture, importation, use, offer for sale, sale and/or other commercial exploitation of any Product, including, without limitation, patent infringement, product liability and environmental
claims, except, in each case, to the extent due to the negligence or willful misconduct of a Solazyme Indemnitee or breach or inaccuracy of any of the representations, warranties and/or covenants in this Agreement of any Solazyme Indemnitee.

 (ii) From SB Oils. SB Oils agrees to indemnify and hold harmless, each Solazyme Indemnitee from and
against all actions, claims, losses, liabilities, costs and expenses (including, without limitation, reasonable attorneys’ and expert fees) and/or judgments and/or amounts paid in settlement that any Solazyme Indemnitee may suffer as a result
of any Third Party claims, demands, actions or other proceedings to the extent arising out of or in connection with: (i) any breach or inaccuracy of any of the representations, warranties and/or covenants in this Agreement of any of its Company
Indemnitees; and/or (ii) any acts (whether of omission or commission) by any of its Company Indemnitees and/or its sublicensees, relating to the development, manufacture, importation, use, offer for sale, sale and/or other commercial
exploitation of any Product, including, without limitation, patent infringement, product liability and environmental claims, except, in each case, to the extent due to the negligence or willful misconduct of a Solazyme Indemnitee or breach or
inaccuracy of any of the representations, warranties and/or covenants in this Agreement of any Solazyme Indemnitee. 

  

					
		 	17	 	CONFIDENTIAL

 (b) Indemnity Obligation to the JV Companies. 

(i) From Solazyme, Inc. Solazyme, Inc. agrees to indemnify and hold harmless each of the JV Companies, and each of
their respective officers, directors, employees and agents (each a “Company Indemnitee”) from and against all actions, claims, losses, liabilities, costs and expenses (including, without limitation, reasonable attorneys’ and
expert fees) and/or judgments and/or amounts paid in settlement that any Company Indemnitee may suffer as a result of any Third Party claims, demands, actions or other proceedings to the extent arising out of or in connection with any breach or
inaccuracy of any of the representations, warranties and/or covenants in this Agreement of any of its Solazyme Indemnitees, except to the extent due to the negligence or willful misconduct of a Company Indemnitee or breach or inaccuracy of any of
the representations, warranties and/or covenants in this Agreement of any Company Indemnitee, 
 (ii) From
Solazyme Brazil. Solazyme Brazil agrees to indemnify and hold harmless each Company Indemnitee from and against all actions, claims, losses, liabilities, costs and expenses (including, without limitation, reasonable attorneys’ and expert
fees) and/or judgments and/or amounts paid in settlement that any Company Indemnitee may suffer as a result of any Third Party claims, demands, actions or other proceedings to the extent arising out of or in connection with any breach or
inaccuracy of any of the representations, warranties and/or covenants in this Agreement of any of its Solazyme Indemnitees, except to the extent due to the negligence or willful misconduct of a Company Indemnitee or breach or inaccuracy of any of
the representations, warranties and/or covenants in this Agreement of any Company Indemnitee. 
 (c) Procedure. If a
Party intends to claim indemnification under Section 11.1(a) or Section 11.1(b), such Party (the “Indemnitee”) shall promptly notify the Party from whom it is seeking indemnity (the “Indemnitor”) in
writing of any claim for indemnification, and, except as otherwise expressly provided in this Agreement, the Indemnitor shall have control of the defense and/or settlement thereof using counsel reasonably acceptable to the Indemnitee. However, if
the Indemnitee believes (based on the advice of outside counsel) that due to potential conflicts of interest between the Indemnitee and the Indemnitor, representation of the Indemnitee by the Indemnitor’s counsel would be inappropriate (e.g.,
due to issues relating to the Field or scope of the rights licensed to the Indemnitor in this Agreement, and rights licensed to another entity), the Indemnitee may select separate counsel and the Indemnitor shall be responsible for the costs of such
representation of the Indemnitee. Under all other circumstances, the Indemnitee may, in its sole discretion, participate in any such proceeding with separate counsel of its choice, at its own expense. The foregoing indemnity obligation shall not
apply to amounts paid by the Indemnitee in settlement of any claim if such settlement is effected by the Indemnitee without the consent of the Indemnitor, which consent shall not be withheld unreasonably. At the Indemnitor’s request and
expense, the Indemnitee and its employees and agents shall provide reasonable cooperation to the Indemnitor and its legal representatives in the investigation of and preparation for the defense against any action, claim or liability covered by this
indemnification. The Indemnitor shall not enter into any settlement or consent to an adverse judgment in any such claim, demand, action or other proceeding that admits any wrongdoing on the part of the Indemnitee or its officers, directors,
employees or agents, or that imposes additional obligations (financial or otherwise) on the Indemnitee, without the prior express written consent of the Indemnitee, which consent shall not be unreasonably withheld, conditioned or delayed.

  

					
		 	18	 	CONFIDENTIAL

 (d) For the purposes of this Section 11.1 a Third Party claim shall not include a claim
made by or on behalf of a member of the Bunge Group. 
 11.2 Limitation on Liability. EXCEPT AS OTHERWISE EXPRESSLY
PROVIDED IN THIS SECTION 11.2, NO PARTY SHALL BE LIABLE TO ANOTHER PARTY FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, RELIANCE OR SPECIAL DAMAGES SUFFERED BY ANOTHER PARTY, AS THE CASE MAY BE (INCLUDING DAMAGES FOR HARM TO BUSINESS, LOST
REVENUES, LOST SAVINGS OR LOST PROFITS SUFFERED BY SUCH PARTY), WHETHER IN CONTRACT, WARRANTY, STRICT LIABILITY, TORT OR OTHERWISE, INCLUDING NEGLIGENCE OF ANY KIND, WHETHER ACTIVE OR PASSIVE, AND REGARDLESS OF WHETHER THE POSSIBILITY THAT SUCH
DAMAGES COULD RESULT WAS KNOWN. NOTWITHSTANDING THE FOREGOING, (A) THE ABOVE LIMITATIONS SHALL NOT APPLY IN THE EVENT OF DAMAGES ARISING OUT OF A BREACH OF THE NON-DISCLOSURE AND NON-USE OBLIGATIONS UNDER ARTICLE 10 OR UNAUTHORIZED EXPLOITATION
OF THE OTHER PARTY’S INTELLECTUAL PROPERTY RIGHTS BEYOND THAT LICENSED UNDER ARTICLE 6, AND (B) NOTHING IN THIS SECTION 11.2 IS INTENDED TO LIMIT ANY PARTY’S OBLIGATIONS UNDER SECTION 11.1 IN RELATION TO AMOUNTS PAID TO A THIRD PARTY.

 ARTICLE 12 
 TERM; TERMINATION 
 12.1 Term. The term of this Agreement shall
commence on the Effective Date and, except as provided in this Article 12, shall continue in full force until the * (such period during which this Agreement remains in effect in whole or in part, the “Term”). 

12.2 Partial Termination upon Material Breach. 
 (a) If a member of the Solazyme Group is in material breach of any of its obligations under Articles 2, 4 or 5 of this Agreement, a JV Company may give to the breaching Party a written notice specifying
the nature of the default, requiring it to make good or otherwise cure such breach, and stating its intention to terminate this Agreement in part if such breach is not cured. Subject to Article 13 and Section 14.8, if such breach is not cured
within ninety (90) days (or thirty (30) days with respect to breach of a payment obligation) after the receipt of such notice (or, if not capable of cure within ninety (90) days, the breaching Party is not using commercially
reasonable efforts to cure or is not diligently pursuing such cure), the JV Company shall be entitled, without prejudice to any of its other rights conferred under this Agreement, and in addition to any other remedies available to it by law or in
equity, to terminate the provisions of Section 2.1 together with Sections 2.2, 2.4, 2.5 and 2.7 (but not individually) for a material breach of Article 2, all of Article 4 for a material breach of Article 4, or all of Article 5 (other than the
second sentence of Section 5.1) for a material breach of Article 5, by written notice to the other Parties. 

  

					
		 	19	 	CONFIDENTIAL

  

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

 (b) If a JV Company is in material breach of any of its obligations under Articles 2, 4 or 5
of this Agreement, Solazyme, Inc. may give to the breaching Party a written notice specifying the nature of the default, requiring it to make good or otherwise cure such breach, and stating its intention to terminate this Agreement in part if such
breach is not cured. Subject to Article 13 and Section 14.8, if such breach is not cured within ninety (90) days (or thirty (30) days with respect to breach of a payment obligation) after the receipt of such notice (or, if not capable
of cure within ninety (90) days, the breaching Party is not using commercially reasonable efforts to cure or is not diligently pursuing such cure), Solazyme, Inc. shall be entitled, without prejudice to any of its other rights conferred under
this Agreement, and in addition to any other remedies available to it by law or in equity, to terminate the provisions of Section 2.1 together with Sections 2.2, 2.4, 2.5 and 2.7 (but not individually) for a material breach of Article 2, all of
Article 4 for a material breach of Article 4, or all of Article 5 for a material breach of Article 5 (other than the second sentence of Section 5.1), by written notice to the other Parties. 

(c) Except as provided in Sections 12.2(a) or (b) or in the Joint Venture Agreement, this Agreement may not be terminated for
breach, including a material breach, of this Agreement by any other Party. 
 12.3 Partial Termination for Insolvency.

 (a) If voluntary or involuntary proceedings by or against a JV Company are instituted in bankruptcy under any insolvency law,
or a receiver or custodian is appointed for such Party, or proceedings are instituted by or against such a Party for corporate reorganization, dissolution, liquidation or winding-up of such Party, which proceedings, if involuntary, shall not have
been dismissed within sixty (60) days after the date of filing, or if such Party makes an assignment for the benefit of creditors, or substantially all of the assets of such Party are seized or attached and not released within sixty
(60) days thereafter, Solazyme, Inc. may immediately terminate any or all of Articles 2 (other than Sections 2.3 and 2.6), 4 and 5 (other than the second sentence of Section 5.1) by written notice to the other Parties. 

(b) If voluntary or involuntary proceedings by or against Solazyme, Inc. or Solazyme Brazil are instituted in bankruptcy under any
insolvency law, or a receiver or custodian is appointed for such Party, or proceedings are instituted by or against such a Party for corporate reorganization, dissolution, liquidation or winding-up of such Party, which proceedings, if involuntary,
shall not have been dismissed within sixty (60) days after the date of filing, or if such Party makes an assignment for the benefit of creditors, or substantially all of the assets of such Party are seized or attached and not released within
sixty (60) days thereafter, a JV Company may immediately terminate any or all of Articles 2 (other than Sections 2.3 and 2.6), 4 and 5 (other than the second sentence of Section 5.1) by written notice to the other Parties. 

12.4 Partial Termination Pursuant to Joint Venture Agreement. Sections 2.1, 2.2, 2.4, 2.5 and 2.7 and Articles 4 and 5 (other than
the second sentence of Section 5.1) shall terminate automatically upon the consummation of BGI’s or its Affiliate’s acquisition of the Solazyme Group’s interest in the Company pursuant to Section 8.3(d), 9.1(e)(ii),
12.2(a)(v), 12.2(b)(v) or 12.3(c)(vi) of the Joint Venture Agreement. 

  

					
		 	20	 	CONFIDENTIAL

 12.5 Complete Termination for Dissolution. 

(a) This Agreement will terminate automatically if the Company is dissolved pursuant to any of Sections 17.1(a)(vi), (vii),
(viii) or (ix) of the Joint Venture Agreement. 
 (b) Either Party may terminate this Agreement immediately upon
notice to the other Party if the Company is dissolved pursuant to Section 17.1(a)(v) due to the insolvency or bankruptcy of the Company or SB Oils. 
 12.6 Certain Effects of Termination. Upon complete termination of this Agreement (i.e., not including partial termination pursuant to Sections 12.2, 12.3 or 12.4, but including termination pursuant
to Section 12.5), all licenses for Technology granted under this Agreement shall immediately terminate, the JV Companies shall promptly cease using all such Technology and shall return to Solazyme, Inc. (or destroy and provide Solazyme, Inc.
with a certificate of destruction) all Transferred Materials and Confidential Information provided by a member of the Solazyme Group; provided, however, that the JV Companies shall be entitled to retain copies of the Solazyme Group’s
Transferred Materials and Confidential Information to the extent necessary to comply with Applicable Law and shall be entitled to retain one copy of the Solazyme Group’s Confidential Information for archival purposes. 

12.7 Accrued Rights. Termination of this Agreement for any reason shall be without prejudice to any rights that shall have accrued
to the benefit of a Party prior to such termination. 
 12.8 Survival. Termination shall not relieve a Party from
obligations that are expressly indicated to survive termination of this Agreement. Without limiting the foregoing, the provisions of Sections 2.3, 2.6, 6.7, 9.2, 12.6, 12.7, and 12.8, the second sentence of Section 5.1 and Articles 1, 8,
10, 11, 13 and 14 shall survive the expiration or complete termination of this Agreement for any reason. 
 ARTICLE 13

 DISPUTE RESOLUTION 
 13.1 Negotiation. In the event of any controversy or claim arising out of, relating to or in connection with any provision of this Agreement, or the rights or obligations of the Parties hereunder,
the Parties shall try to settle their differences amicably between themselves. Any Party may initiate such informal dispute resolution by sending written notice of the dispute to the other Parties, and within ten (10) days after such notice
appropriate representatives of the Parties shall meet for attempted resolution by good faith negotiations. If such representatives are unable to resolve promptly such disputed matter, it shall be referred to the Chief Executive Officer of Solazyme,
Inc. and to the President of the Company, for good faith discussion and resolution. If such personnel are unable to resolve such dispute within thirty (30) days of initiating such negotiations, unless otherwise agreed by the Parties, such
dispute shall proceed to mediation as provided under Section 13.2. 

  

					
		 	21	 	CONFIDENTIAL

 13.2 Mediation. 

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

13.3 Language of Dispute Resolution. All proceedings under this Article 13 (including pursuant to any other means of dispute
resolution) shall be conducted in the English language and all documents exchanged among the Parties or submitted in the context of a proceeding under this Article 13 (including pursuant to any other means of dispute resolution) shall be in English
or shall be accompanied with a certified English translation of the original document. 
 ARTICLE 14 

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

  

					
		 	22	 	CONFIDENTIAL

 (b) All notices, requests, demands and other communications that are required or may be
given pursuant to the terms of this Agreement shall be addressed as follows: 
 if to the Company, to: 

Solazyme Bunge Renewable Oils Coöperatief U.A. 
 225 Gateway Boulevard 
 South San Francisco, CA 94080 

Attn: Managing Directors 
 Telephone: * 
 Facsimile: * 

with copies to: 
 Solazyme, Inc. 
 225 Gateway Boulevard 

South San Francisco, CA 94080 
 Attn: General Counsel 
 Telephone: * 

Facsimile: * 

and to: 

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

Attn: General Counsel 
 Telephone: * 
 Facsimile: * 

or to such other address as the Company may designate in a written notice to the other Parties; 

if to SB Oils, to: 
 Solazyme Bunge Produtos Renováveis Ltda. 
 Fazenda Moema, s/n, Zona Rural,
Orindiúva 
 São Paulo, 15480-000, Brazil 

Attn: General Manager 
 Telephone: [—] 
 Facsimile: [—] 
 with copies to: 

Solazyme, Inc. 

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

Telephone: * 

Facsimile: * 

  

					
		 	23	 	

  

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

 and to: 
 Bunge North America, Inc. 
 11720 Borman Dr. 

St. Louis, MO 63146 
 Attn: General Counsel 
 Telephone: * 

Facsimile: * 
 or to such other
address as SB Oils may designate in a written notice to the other Parties; 
 if to Solazyme, Inc., to: 

Solazyme, Inc. 

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

Telephone: * 

Facsimile: * 
 or to such other
address as Solazyme, Inc. may designate in a written notice to the other Parties; and 
 if to Solazyme Brazil, to: 

Solazyme Brasil Óleos Renováveis e Bioprodutos Ltda. 

Avenida Pierre Simon de Laplace 
 751 – Campinas/SP 
 CEP 13063-320 

Brazil 
 Attn:
General Manager 
 Telephone: * 
 with a copy to: 
 Solazyme, Inc. 

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

Telephone: * 

Facsimile: * 
 or to such other
address as Solazyme Brazil may designate in a written notice to the other Parties. 
 14.2 Remedies for Breach. The
rights and remedies herein expressly provided are cumulative and not exclusive of any other rights or remedies that any Party would otherwise have at law, in equity, by statute or otherwise. 

  

					
		 	24	 	CONFIDENTIAL

  

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

 14.3 Relationship of the Parties. Nothing in this Agreement is intended or shall be
deemed to constitute a partnership, agency or employer-employee relationship between the Parties. No Party shall incur any debts or make any commitments for any other Party. 
 14.4 Assignment. Except as expressly provided herein, neither this Agreement nor any interest hereunder shall be assignable, nor any other obligation delegable, by a Party without the prior written
consent of the other Parties; provided, however, that a Party may assign or otherwise transfer this Agreement (a) to any Affiliate or (b) to any successor in interest by way of merger, sale of equity, or sale of all or substantially
all of its assets provided that such successor agrees in writing to be bound by the terms of this Agreement as if it were the transferring Party. This Agreement shall be binding upon the successors and permitted assigns of the Parties. Any
assignment or other transfer not in accordance with this Section 14.4 shall be void. Notwithstanding the foregoing, in the event that a Party assigns or otherwise transfers this Agreement to its successor in interest by way of merger, sale of
equity, or sale of all or substantially all of its assets, the intellectual property rights of such successor in interest, and of any of its Affiliates as of immediately prior to such assignment or other transfer, as existing immediately prior to
the closing of such transaction, shall be automatically excluded from the rights licensed to another Party under this Agreement. 
 14.5 Further Assurances. Each Party agrees to execute, acknowledge and deliver such further instruments and to do all such other reasonable acts as may be necessary or appropriate in order to carry
out the purposes and intent of this Agreement. 
 14.6 Force Majeure. No Party shall be liable to another Party for
failure or delay in the performance of any of its obligations under this Agreement for the time and to the extent such failure or delay is caused by acts of god, earthquake, fire, flood, war, accident, explosion, breakdowns or labor trouble;
embargoes or other import or export restrictions; shortage of or inability to obtain energy, equipment, transportation or feedstock; or good faith compliance with any regulation, direction or request (whether valid or invalid) made by any
governmental authority or any other reason that is beyond the control of the respective Party. The Party affected by force majeure shall provide the other Parties with full particulars thereof as soon as it becomes aware of the same (including its
best estimate of the likely extent and duration of the interference with its activities) and shall use commercially reasonable efforts to overcome the difficulties created thereby and to resume performance of its obligations as soon as practicable.

 14.7 Governing Law; Consent to Jurisdiction; Venue. This Agreement shall be governed by and construed in accordance
with the laws of the State of New York, without giving effect to conflict of laws principles. The Parties hereby irrevocably and unconditionally (i) consent to submit to the exclusive jurisdiction of the courts of the State of New York and the
courts of the United States of America located in New York, New York for any actions, suits or proceedings arising out of or relating to this Agreement and the transactions contemplated hereby and agrees not to commence any action, suit or
proceeding relating thereto except in such courts, (ii) agree that service of any process, summons, notice or document by United States registered or certified mail, to a Party’s address in effect pursuant to Section 14.1, shall be
effective service of process for any action, suit or proceeding brought in any such court, (iii) waive any objection to personal jurisdiction and the laying of venue of any action, suit or proceeding arising out of this Agreement or the
transactions contemplated hereby in such courts, 

  
 25 

 
and (iv) waive and agrees not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum.
Notwithstanding the foregoing, (a) a Party shall be entitled to seek injunctive or similar relief in the courts of any jurisdiction to protect such Party’s rights and interests ancillary to such litigation, and (b) any action between
the Parties regarding the infringement and/or validity of any non-U.S. Patent may be brought by either Party in any court or tribunal having jurisdiction over the Parties and such Patent matters. 

14.8 Tolling of Time Periods. In the event that a controversy or claim has been raised and is in the process of dispute
resolution in accordance with Article 13, any applicable time period set forth in this Agreement governing the underlying controversy or claim shall be tolled pending the outcome of the resolution process, after which the time period shall again
begin to run. 
 14.9 Severability. When possible, each provision of this Agreement shall be interpreted in such manner
as to be effective and valid under Applicable Law, but if any provision of this Agreement is held to be prohibited by or invalid under Applicable Law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without
invalidating the remainder of this Agreement. The Parties shall make a good faith effort to replace the invalid or unenforceable provision with a valid one that conforms as nearly as possible with the original intent of the Parties. 

14.10 Third Party Beneficiaries. Except for the rights of indemnitees set forth in Article 11, all rights, benefits and remedies
under this Agreement are solely intended for the benefit of the Parties and their permitted assigns, and no Third Party shall have any rights whatsoever to (i) enforce any obligation contained in this Agreement; (ii) seek a benefit or
remedy for any breach of this Agreement; or (iii) take any other action relating to this Agreement under any legal theory, including but not limited to, actions in contract, tort (including but not limited to negligence, gross negligence and
strict liability), or as a defense, setoff or counterclaim to any action or claim brought or made by any of the Parties. 

14.11 Fees; Brokers. Each Party shall bear its own legal fees and expenses in connection with this Agreement and the transactions
contemplated herein. Each Party represents and warrants to the other Parties that it has not engaged or been involved with any broker or finder in connection with the Agreement or the transactions contemplated herein, and each Party agrees to
indemnify and hold the other Parties harmless from and against any broker’s, finder’s or similar fees for which it is responsible. 
 14.12 Advice of Counsel. Each Party has consulted counsel of their choice regarding this Agreement, and each Party acknowledges and agrees that this Agreement shall not be deemed to have been
drafted by one Party or another and shall be construed accordingly. 
 14.13 Entire Agreement; Amendments. The Joint
Venture Agreement, this Agreement (including its Exhibits) and the other JV Agreements, taken together, collectively represent the entire understanding and agreement among the Parties with respect to the subject matter of and the transactions
contemplated by such agreements. The provisions of this Agreement shall be construed within the four corners of this Agreement; provided, however, that 

  

					
		 	26	 	CONFIDENTIAL

 
reasonable efforts shall be made to interpret and give full force and effect to the provisions of this Agreement in a manner that is not inconsistent with the interpretation given to the relevant
provisions of the other JV Agreements and that gives full force and effect to all relevant provisions of the JV Agreements in their entirety. No modification or amendment of any provision of this Agreement shall be valid or effective unless made in
writing and signed by a duly authorized officer of each Party. 
 14.14 Waiver. The failure or delay of a Party to
enforce or to exercise, at any time for any period of time, any provisions hereof or any right or remedy hereunder shall not be construed as a waiver of such provision or right or remedy or of the right of such Party thereafter to enforce or
exercise the same; provided, however, that such right or remedy is not time-barred or otherwise precluded by law or by a writing expressly waiving such right or remedy and signed by that Party seeking to assert such right or remedy. The
written waiver by the other Parties of a breach of any term or provision of this Agreement by a Party shall not be construed as a waiver of any subsequent breach. 
 14.15 Translation. This Agreement is in the English language only, which language shall be controlling in all respects, and all versions hereof in any other language shall be for accommodation only
and shall not be binding upon the Parties. All communications and notices to be made or given pursuant to this Agreement, and any dispute proceeding related to or arising hereunder, shall be in the English language. If there is a discrepancy between
any translation of this Agreement and this English language version of this Agreement, this English language version of this Agreement shall prevail. 
 14.16 Export, Import and Regulatory Laws. Notwithstanding anything to the contrary contained herein, all obligations of the Parties and their Affiliates are subject to prior compliance with U.S.
export regulations, Brazilian import regulations, and such other U.S. and Brazilian Applicable Laws. Each of the Parties shall each use its reasonable efforts to obtain such approvals for its own activities. Each Party shall cooperate with the other
Parties and shall provide help to the other Parties as reasonably necessary to obtain any required approvals. 
 14.17
Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. Signature pages received by facsimile transmission or PDF shall be
deemed the same as signature pages with original signatures. 
 [Signature page follows.] 

  

					
		 	27	 	CONFIDENTIAL

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

			
	SOLAZYME, INC.
		
	By:	 	 /s/ Jonathan S. Wolfson

	Name:	 	Jonathan S. Wolfson
	Title:	 	CEO
	
	SOLAZYME BRASIL ÓLEOS RENOVÁVEIS E BIOPRODUTOS LTDA.
		
	By:	 	 /s/ Rogerio Manso

	Name:	 	Rogerio Manso
	Title:	 	
	
	SOLAZYME BUNGE RENEWABLE OILS COÖPERATIEF U.A.
		
	By:	 	 /s/ Tyler Painter

	Name:	 	Tyler Painter
	Title:	 	
	
	SOLAZYME BUNGE PRODUTOS RENOVÁVEIS LTDA.
		
	By:	 	 /s/ Ricardo Ferreira Santos

	Name:	 	Ricardo Ferreira Santos
	Title:	 	
		
	By:	 	 /s/ Andre JS Pereira

	Name:	 	Andre JS Pereira
	Title:	 	

 Exhibit A – Defined Terms 
 Exhibit B – Project Plan 
 Signature page to Solazyme Development Agreement

  

					
		 	28	 	CONFIDENTIAL

 EXHIBIT A 

Defined Terms 
 “Affiliate” means, with respect to any Person, any other Person directly or indirectly Controlling, Controlled by or under common Control with such Person. As used in this definition,
“Control” means the possession of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise, but only during such time as such
power exists. Notwithstanding the foregoing, for purposes of this Agreement, (i) neither the Company nor any of its Subsidiaries shall be deemed to be an Affiliate of any member of the Solazyme Group or the Bunge Group, (ii) no member of
the Solazyme Group shall be deemed to be an Affiliate of the Company or any of its Subsidiaries and (ii) no member of the Bunge Group shall be deemed to be an Affiliate of the Company or any of its Subsidiaries. 

“Applicable Law” means any applicable constitution, treaty, statute, rule, regulation, ordinance, order, directive,
code, interpretation, judgment, decree, injunction, writ, determination, award, permit, license, authorization, directive, requirement or decision of or by government authorities. 

“Background Technology” means any Technology (i) Controlled by a Party as of the Effective Date, or
(ii) Controlled by a Party at any time after the Effective Date and developed or acquired by or on behalf of a Party independent of this Agreement or any of the other JV Agreements. As used in this definition, “Controlled”
means, with respect to any item of Technology or intellectual property rights, possession of the right, whether directly or indirectly, and whether by ownership, license or otherwise, to assign or grant a license, sublicense or other right to or
under, such Technology or intellectual property as provided for herein without violating the terms of any agreement or other arrangements with any Third Party or requiring the payment of additional consideration specifically in connection with such
grant unless that other Party has agreed in writing to pay for the amount of such payment. 
 “Bunge Group”
means BGI and its Affiliates. 
 “Business Day” means any day other than a Saturday or Sunday on which federal
or state-chartered banks located in New York, New York are open for the conduct of ordinary commercial banking business. 

“Commencement of Construction” means the earlier to occur of (a) execution of an engineering, procurement and
construction contract for the Initial Plant or (b) execution of a contract for the purchase of a production vessel for the Initial Plant. 
 “Field” means (i) *, uses and applications, outside the Secondary Field (the “Primary Field”) or (ii) * (the “Secondary Field”). 

“Fully-Loaded Cost” means (i) the actual cost of consumable materials, plus (ii) in regard to personnel, such
person’s base salary, bonus, social and retirement benefits, any accounting charge for equity compensation (each, as applicable) and a reasonable allocation of 

  
 Exhibit A
– Page 1 
  

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

 
overhead consistent with accounting standards applicable to the reporting Person as consistently applied; provided, however, that the costs calculated pursuant to this subclause
(ii) shall not exceed 220% of the applicable person’s base salary. 
 “JV Agreements” means,
collectively: (a) the Joint Venture Agreement; (b) this Agreement, (c) the Bunge Development Agreement dated as of the Effective Date by and among Bunge Global Innovation, LLC, Bunge Açúcar Bioenergia Ltda., the Company
and SB Oils (the “Bunge Development Agreement”); (d) the Cross-License Agreement dated as of the Effective Date by and among Solazyme, Inc. and Bunge Global Innovation, LLC (the “Cross-License Agreement”);
(e) the Feedstock Supply Agreement dated as of the Effective Date by and between Usina Moema Açúcar e Álcool Ltda. and SB Oils; (f) the Administrative Services Agreement dated as of the Effective Date by and among
Solazyme Brazil, Bunge Açúcar Bioenergia Ltda. and SB Oils (the “Administrative Services Agreement”); (g) the utility supply agreement, dated as of the Effective Date by and between Usina Moema
Açúcar e Álcool Ltda. and SB Oils; (h) the working capital financing agreement, substantially on the terms set forth in Exhibit F of the Joint Venture Agreement, by and among a member of the Bunge Group, the Company
and SB Oils; and (i) the agreement by and among Usina Moema Açúcar e Álcool Ltda., Solazyme Bunge Produtos Renováveis Ltda. and Sociedade Energética Orindiuva I Ltda., regarding the use and/or ownership of
land at Fazenda Moema (the “Lease”). 
 “JV Company Technology” means all Technology developed
by or on behalf of a JV Company to the extent not specified to the contrary in any of the JV Agreements. JV Company Technology includes: (a) Technology created or conceived by employees of the JV Companies (unless otherwise expressly stated in
a JV Agreement), and (b) Technology created or conceived by contractors of the JV Companies (unless otherwise expressly stated in a JV Agreement), including any Technology conceived or created by a member of the Solazyme Group or the Bunge
Group while performing their duties on behalf of the Company under the Administrative Services Agreements (unless otherwise expressly stated in a JV Agreement). 
 “Knowledge of Solazyme” means the actual knowledge of Solazyme’s CEO, President, Chief Technology Officer, General Counsel, or Associate Vice President – Intellectual Property
and Patent Counsel. 
 “Maintenance Termination Date” means the date upon which the JV Companies stop paying
the Technology Maintenance Fee to Solazyme, Inc. 
 “Manufacturing Territory” means *. 

“Microbe” means any single-celled microorganism with lipid-producing capability. 

“Microbe-Based Catalysis” means that portion of a process in which a Microbe is used as a biocatalyst to convert a
carbon source into a triglyceride oil or derivative from the lipid pathway starting with the introduction of carbon sources to the culture medium containing the Microbe and ending with the extraction of the oil or derivative from the Microbe (but
not including any process after the extraction of the oil or derivative). 

  
 Exhibit A
– Page 2 
  

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

 “Microbe Technology” means any Technology consisting of
(i) Microbe-Based Catalysis; (ii) any biomass that results from Microbe-Based Catalysis, (iii) any Microbes used for the Microbe-Based Catalysis; (iv) any isolating, screening, selecting, cultivating, or processing of a Microbe
used for Microbe-Based Catalysis, and the materials directly resulting from such screening or selecting; (v) any genetic or metabolic engineering or mutagenesis of a Microbe used for Microbe-Based Catalysis, and the materials directly resulting
from such genetic or metabolic engineering or mutagenesis; (vi) any oils or other materials resulting from Microbe-Based Catalysis, (vii) any uses with respect to any materials resulting from Microbe-Based Catalysis, and (viii) any
method or process for separating, recovering and/or extracting any material from any biomass that results from Microbe-Based Catalysis; in each case, with respect to the oils after extraction from the Microbe, to the extent not Oil Processing
Technology. 
 “Oil Processing Technology” means any Technology for the processing of oil starting after the
extraction of oil from a Microbe, to and through the point at which the triglyceride oil is suitable for sale, including methods and processes for purifying and processing triglyceride oils resulting from Microbe-Based Catalysis after the extraction
of the triglyceride oils from the Microbe biomass, and the oils resulting from such processing. 
 “Patents”
means (a) all national, regional and international patents and other indicia of ownership of an invention granted by any governmental authority, including utility patents, design patents, utility models, petty patents, inventors certificates
and plant patents; (b) all applications for any of the foregoing, including divisional, continuations, continuations-in-part, provisionals, converted provisionals, and continued prosecution applications; and (c) any and all extensions or
restorations by existing or future extension or restoration mechanisms, including revalidations, reissues, re-examinations and extensions (including any supplementary protection certificates and the like) of the foregoing (described in clauses
(a) and (b)). 
 “Person” means any human being, organization, general partnership, limited partnership,
corporation, limited liability company, cooperative, limitata, joint venture, trust, business trust, association, governmental entity or other legal entity. 
 “Plants” means the Initial Plant and any other production facilities constructed by any of the JV Companies. 
 “Product” means triglyceride oils * manufactured through Microbe-Based Catalysis. 
 “Research and Development Project” means the program of research and development activities conducted by Solazyme, Inc., Solazyme Brazil or their Affiliates in accordance with a Project
Plan. 
 “Solazyme JDA Technology” means all Microbe Program Technology, Juice Preparation Program Technology
and other Program Technology (each as defined in the Joint Development Agreement) owned solely by Solazyme, Inc. or its Affiliates or jointly by Bunge and its Affiliates on the one hand, and Solazyme, Inc. and its Affiliates on the other hand.

  
 Exhibit A
– Page 3 
  

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

 “Subsidiary” means, with respect to a first Person, any other Person
Controlled directly or indirectly by such first Person, wherein the term “Controlled”, as used in this definition, has the same meaning as used in the definition of Affiliate. 

“Taxes” means any present or future taxes, levies, imposts, duties, charges, assessments or fees of any nature
(including interest, penalties and additions thereto) that are imposed by the applicable federal government or other taxing authority. 
 “Technology” means all technical, scientific and other know-how and information, trade secrets, knowledge, technology, means, methods, processes, practices, formulas, instructions,
skills, techniques, procedures, experiences, ideas, technical help, designs, drawings, assembly procedures, computer programs, apparatuses, specifications, data, results and other material, manufacturing procedures, test procedures, and purification
and isolation techniques (in each case whether or not confidential, proprietary, patented or patentable) in written, electronic or any other form now known or hereafter developed, and all other discoveries, developments, inventions (in each case,
whether or not confidential, proprietary, patented or patentable), and tangible embodiments of any of the foregoing, and all related intellectual property rights. 
 “Third Party” means any Person other than a member of the Solazyme Group or a JV Company or its Subsidiary, and their permitted successors and assigns. 

“Third Party Agreement” shall mean any agreement entered into by Solazyme, Inc. or Solazyme Brazil with a Third Party,
pursuant to which Solazyme, Inc. or Solazyme Brazil obtained or obtains a license or other rights to Technology, with the right to license or sublicense such rights, which are necessary or useful in the Field in the Territory. 

“Use Territory” means *. 
 Additional Definitions. Each of the following terms shall have the meaning defined in the corresponding sections of this Agreement indicated below: 

 

			
	 Term
	  	 Section Reference

	 Agreement
	  	Preamble
	 Effective Date
	  	Preamble
	 Company
	  	Preamble
	 SB Oils
	  	Preamble
	 JV Companies
	  	Preamble
	 Solazyme, Inc.
	  	Preamble
	 Solazyme Brazil
	  	Preamble
	 Bunge
	  	Recitals
	 BGI
	  	Recitals
	 Joint Development Agreement
	  	Recitals
	 Joint Venture Agreement
	  	Recitals
	 Joint Venture
	  	Recitals
	 Initial Plant
	  	Recitals
	 Party
	  	1.2

  
 Exhibit A
– Page 4 
  

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

			
	Dollar	  	1.2
	Reais	  	1.2
	Project Plan	  	2.1
	Project Term	  	2.2
	Solazyme Project Technology	  	2.6
	Transferring Party	  	3.1(a)
	Recipient	  	3.1(a)
	Transferred Materials	  	3.1(a)
	Results	  	3.1(c)
	Authorized Transferee	  	3.1(d)
	Solazyme Platform Research	  	4.1
	Solazyme Platform Technology	  	4.2
	Technology Maintenance Fee	  	4.3
	Solazyme Technical Services Technology	  	5.1
	Retainer Year	  	5.2(b)
	Indemnified Taxes	  	7.3(a)
	Additional Amounts	  	7.3(a)
	Confidential Information	  	10.1
	Solazyme Indemnitee	  	11.1(a)(i)
	Company Indemnitee	  	11.1(b)(i)
	Indemnitee	  	11.1(c)
	Indemnitor	  	11.1(c)
	Term	  	12.1
	Primary Field	  	Definition of Field
	Secondary Field	  	Definition of Field
	Bunge Development Agreement	  	Definition of JV Agreements
	Cross License Agreement	  	Definition of JV Agreements
	Administrative Services Agreement	  	Definition of JV Agreements
	Lease	  	Definition of JV Agreements

  
 Exhibit A
– Page 5 

 EXHIBIT B 

Project Plan No. [1] 
 THIS RESEARCH AND DEVELOPMENT PROJECT PLAN NO. [1] (the “Project Plan”) is
made and entered into as of             , 201     (the “Effective Date”), by and between Solazyme Bunge Renewable Oils Coöperatief U.A., a Dutch
cooperative (the “Company”) and Solazyme, Inc., a Delaware corporation with a principal place of business at 225 Gateway Boulevard, South San Francisco, CA 94080 (“Solazyme, Inc.”), and relates to the Solazyme
Development Agreement dated             , 2012 (the “Solazyme Development Agreement”). Pursuant to the Solazyme Development Agreement, Solazyme, Inc. has agreed to perform
certain research and development for the Company in accordance with written Project Plans, such as this one, entered into from time-to-time. 
 Solazyme, Inc. and the Company hereby agree as follows: 
 1. Project Plan.
This document constitutes a “Project Plan” under the Development Agreement, and this Project Plan and the research and development contemplated herein are subject to the terms and provisions of the Development Agreement. 

2. Research/Development and Payment of Fees and Expenses. The specific research and development contemplated by this Project Plan
and the related budget, timeline, payment schedule and other obligations are set forth as follows on the following attachment(s), which are incorporated herein by reference: 

 

			
	DESCRIPTION OF RESEARCH	  	ATTACHMENT 1
	PROJECT BUDGET	  	ATTACHMENT 1
	TIMELINE	  	ATTACHMENT 1
	PAYMENT SCHEDULE	  	ATTACHMENT 1

 3. Term. The term of this Project Plan shall commence on the Effective Date and shall continue
until the services described in Attachment 1 are completed, unless this Project Plan is earlier terminated in accordance with the Development Agreement or upon mutual agreement of Solazyme, Inc. and the Company. 

4. Amendments. No modification, amendment, or waiver of this Project Plan shall be effective unless in writing and duly executed
and delivered by Solazyme, Inc. and the Company. 
 ACKNOWLEDGED, ACCEPTED AND AGREED TO: 

 

											
	SOLAZYME, INC.	 		 		 	SOLAZYME BUNGE RENEWABLE OILS COÖPERATIEF U.A.
						
	By:	 	  
	 		 		 	By:	 	  

	Name:	 		 		 		 	Name:	 	
	Title:	 		 		 		 	Title:	 	

  
 Exhibit B
– Page 1EX-10.4

 Exhibit 10.4 
 WAIVER AND FIRST AMENDMENT TO LOAN DOCUMENTS 
 WAIVER AND FIRST
AMENDMENT TO LOAN DOCUMENTS (this “Amendment”), dated as of August 9, 2012, among PROCURIAN USA INC. (f/k/a/ ICG Commerce, Inc.) (“Procurian”), ICG COMMERCE INVESTMENTS, LLC
(“Investments”), PROCURIAN INTERNATIONAL I LLC (f/k/a ICG Commerce International, LLC) (“International I”), PROCURIAN INC. (f/k/a ICG Commerce Holdings, Inc.) (“Holdings” and
together with Procurian, Investments and International I, collectively the “Borrower”), and PNC BANK, NATIONAL ASSOCIATION (the “Bank”). 

W I T N E S S E T H: 

WHEREAS, the Borrower and the Bank are parties to a letter agreement dated as of August 3, 2010 (as amended, supplemented or
otherwise modified from time to time, the “Loan Agreement”); 
 WHEREAS, the Borrower has requested that the
Bank (i) waive the Loan Agreement’s requirement that acquisitions be accretive to earnings and cash flow with regard to Procurian’s acquisition of the stock of Utilities Analyses, Incorporated (the “Acquisition”)
pursuant to that certain Stock Purchase Agreement between the stock holders of Utilities Analyses, Incorporated and Procurian, (the “Purchase Agreement”), (ii) extend the Line of Credit Expiration Date from August 2, 2013
to August 2, 2015, (iii) increase the outstanding principal amount of the Term Loan by $12,999,999.92 and extend the maturity date of the Term Loan from August 1, 2015 to August 1, 2017, (iv) modify the negative covenant
permitting acquisitions, (v) amend the leverage ratio covenant, (vi) amend the Applicable Margin definition and (vii) make certain other changes to the Loan Documents; and 

WHEREAS, the Bank has agreed to such requests on the terms and subject to the conditions set forth herein. 

NOW, THEREFORE, in consideration of the foregoing and for other consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 1. Defined Terms.
Unless otherwise defined herein, terms defined in the Loan Agreement are used herein as therein defined. 
 2. Waiver and
Consent.  
 (a) The Borrower has requested that the Bank waive the requirement set forth in Section C(4)(b) of Exhibit
A to the Loan Agreement that acquisitions be accretive to earnings and cash flow with respect to the Acquisition. The Bank hereby consents to the Acquisition and waives the limitations of Sections C(4)(b) of Exhibit A to the Loan Agreement with
respect to the Acquisition, provided that on a pro forma basis after giving effect to the Acquisition there would be no Event of Default or other event that with the giving of notice or the passage of time, or both, would become an Event of Default.

 (b) The Borrower has requested that the Bank waive any default or Event of Default arising
under Section 6(d) of the Loan Agreement due to the Borrower’s failure to join Procurian International II LLC, Procurian IP Holdings, LLC, Media IQ, LLC and Utilities Analyses, Incorporated as a Borrower or Guarantor under the Loan
Documents at the time such Subsidiaries were formed or acquired. The Bank hereby waives any such default or Event of Default, provided however, that such waiver is given subject to the condition that the Borrower comply with its obligations under
Section 8(a) of this Amendment. 
 3. Increase in Existing Term Loan. Pursuant to the Loan Agreement, the
Bank made a Term Loan to the Borrower in an initial principal amount equal to $20,000,000 on August 3, 2010. The Borrower and the Bank hereby agree that, as of the date hereof, the outstanding principal amount of the Term Loan is
$12,000,000.08. On the date hereof, the Bank agrees to make an additional term loan advance to the Borrower in a principal amount equal to $12,999,999.92 (the “Additional Term Loan Advance”) to be used by the Borrower for their
general corporate purposes and to pay costs and expenses of the foregoing transactions. The Borrower hereby acknowledges and agrees that (i) the Additional Term Loan Advance constitutes a part of the “Term Loan” as defined in
the Loan Agreement and any references to the Term Loan in the Loan Documents shall include the Additional Term Loan Advance, (ii) this Amendment neither extinguishes any indebtedness evidenced by the current Term Note nor affects or impairs the
liens and security interests granted by the Borrower to the Bank in any and all collateral now or hereafter securing the payment of the Obligations, (iii) the Additional Term Loan Advance shall be evidenced by and shall bear interest and be
payable as provided in the New Note (as defined herein), which amends and restates the original Term Note dated as of August 3, 2010 and (iv) the outstanding principal amount of the Term Loan, after giving effect to the Additional Term
Loan Advance, equals $25,000,000. 
 4. Other Amendments to Loan Agreement. 

(a) The first paragraph of Section 1(A) of the Loan Agreement is hereby amended by deleting the date “August 2, 2013” and
substituting in lieu thereof the date “August 2, 2015”. 
 (b) Section 4(B) of the Loan Agreement is hereby
amended by deleting the date “August 1, 2015” and substituting in lieu thereof the date “August 1, 2017.” 

(c) Section B(1) of Exhibit A to the Loan Agreement is hereby amended and restated in its entirety to read in full as follows:

 “(1) The Borrower and its Subsidiaries will maintain as of the end of each fiscal quarter on a consolidated basis a ratio
of (a) Total Debt as of the last day of such fiscal quarter to (b) Adjusted EBITDA for the four-quarter period ending on the last day of such fiscal quarter of less than or equal to 2.25 to 1.00.” 

(d) Section B of Exhibit A to the Loan Agreement is hereby amended by inserting the new defined terms “Acquired EBITDA”
and “Adjusted EBITDA” in the appropriate alphabetic order, reading in full as follows: 

  
 2 

 “‘Acquired EBITDA’ means, with regard to a Person or assets acquired
in a Permitted Acquisition, for any Reference Period (i) the historical EBITDA of such Person or attributable to such assets for such Reference Period plus (ii) to the extent approved by the Bank in its reasonable discretion,
adjustments to such historical EBITDA to reflect reasonably identifiable and factually-supportable cost savings, calculated on a pro forma basis (utilizing the historical financial results of the Person or assets that are the subject of the
Permitted Acquisition) to be realized in connection with such Permitted Acquisition, in each case certified by the chief financial officer of the Borrower that, in the good faith judgment of the management of the Borrower, have been achieved;
provided, however, that for purposes of making the determination of such historical EBITDA for purposes of clause (i) above for the first Reference Period for which Acquired EBITDA is being calculated in respect of any particular
Permitted Acquisition, the historical EBITDA of such acquired Person or attributable to such acquired assets for the portion of such Reference Period consisting of the full fiscal quarters ending prior to the date of such acquisition (or on the date
of such acquisition in the case when such acquisition is consummated on the last day of a fiscal quarter) (the “Equalized Period”), shall be deemed to be earned equally over each fiscal quarter ending during such Equalized Period
(the “Equalized Quarterly Historical EBITDA”) and such Equalized Quarterly Historical EBITDA shall be used for each subsequent Reference Period which includes an Equalized Period in respect of such Permitted Acquisition. Please see
Exhibit B hereto to for an illustration, by way of example, of the foregoing calculation.” 
 “‘Adjusted
EBITDA’ means for any period of four consecutive fiscal quarters (each a “Reference Period”), EBITDA for such Reference Period, provided that, if at any time during such Reference Period, the Borrower or any
of its Subsidiaries has consummated a Permitted Acquisition, then Adjusted EBITDA shall be calculated as (i) EBITDA for such Reference Period plus (ii) the Acquired EBITDA with respect to the Person or attributable to the assets acquired
pursuant to such Permitted Acquisition, after giving pro forma effect to such Permitted Acquisition as if it had occurred on the first day of the Reference Period, but solely to the following extent: (a) if the Acquired EBITDA is equal to or
less than $3,000,000 (including negative Acquired EBITDA) for the four fiscal quarter period ended immediately prior to the consummation of the Permitted Acquisition and the Borrower has delivered to the Bank Borrower-prepared due diligence reports
satisfactory to the Bank in its reasonable discretion for such acquired Person or relating to such acquired assets (except in the case where the Acquired EBITDA is negative, in which case, such due diligence reports shall not be required), all of
the Acquired EBITDA (including negative Acquired EBITDA) shall be included in the calculation of Adjusted EBITDA or (b) if the Acquired EBITDA is greater than $3,000,000 for the four fiscal quarter period ended immediately prior to the
consummation of the Permitted Acquisition and the Borrower has delivered to the Bank (I) Borrower-prepared due diligence reports satisfactory to the Bank in its reasonable discretion for such acquired Person or relating to such acquired assets,
$3,000,000 of Acquired EBITDA shall be included in the calculation of Adjusted EBITDA, or (II) audited financial statements or independent third-party due diligence reports satisfactory to the Bank in its reasonable discretion for such acquired
Person or related to such acquired assets, then all of the Acquired EBITDA shall be included in the calculation of Adjusted EBITDA.” 

  
 3 

 (e) Section C(4) of Exhibit A to the Loan Agreement is hereby amended and restated to read
in full as follows: 
 “(4) The Borrower will not and will not permit its Subsidiaries to make acquisitions of all or
substantially all of the property, assets or equity of any person, firm, corporation or other entity (each, a “Person”) (or all or substantially all of the assets constituting a business unit, division, product line or line of
business) unless on a pro forma basis after giving effect to such acquisition there would be no Event of Default or other event that with the giving of notice or the passage of time, or both, would become an Event of Default (a “Permitted
Acquisition”). 
 (f) The Loan Agreement is amended by insertion of a new Exhibit B, reading in full as set forth on
Schedule I to this Amendment. 
 5. Amendments to Line of Credit Note. 

(a) The second sentence of Section 1 of the Line of Credit Note is hereby amended by deleting the date “August 2, 2013”
and substituting in lieu thereof the date “August 2, 2015”. 
 (b) The definition of “Applicable
Margin” in Section 2 of the Line of Credit Note is hereby amended and restated in its entirety to read in full as follows: 
 “‘Applicable Margin’ for any day, with respect to any advance bearing interest at the Base Rate Option, the LIBOR Option or the Daily LIBOR Rate Option, as the case may be, is the
percentage set forth below in the applicable column and row corresponding to the Borrower’s ratio of Total Debt to Adjusted EBITDA (as such terms are defined in the Loan Documents (as hereinafter defined)): 

 

											
	 Level
	  	 Total Debt to Adjusted

EBITDA
	 	Base Rate
Option	 	 	LIBOR Option or
Daily LIBOR Rate
Option	 
	 I
	  	Less than 0.75 to 1.00	 	 	0	% 	 	 	1.50	% 
	 II
	  	Greater than or equal to 0.75 to 1.00 but less than 1.50 to 1.00	 	 	0	% 	 	 	1.75	% 
	 III
	  	Greater than or equal to 1.50 to 1.00	 	 	0	% 	 	 	2.00	% 

 Notwithstanding anything herein to the contrary, the Applicable Margin will be adjusted by the Bank as
necessary on a quarterly basis as of the first Business Day (as hereafter defined) of the month following the delivery of the Borrower’s 

  
 4 

 
Financial Statements (as defined in the Loan Documents) and compliance certificate for the immediately preceding fiscal quarter as required by the Loan Documents based upon the ratio of Total
Debt to Adjusted EBITDA determined by the Bank pursuant to those Financial Statements; provided that (i) prior to the delivery of the Financial Statements for the period ending September 30, 2012, the Applicable Margin will
be Level II, and (ii) thereafter if the Borrower fails to deliver any such Financial Statements or such compliance certificate as and when required by the Loan Documents, the Applicable Margin will automatically be adjusted on the first
Business Day of the month following the due date for such Financial Statements to the highest Applicable Margin and will stay at such rate until the first Business Day following the month in which such Financial Statements and compliance certificate
are actually delivered.” 
 6. Amendments to Pledge Agreement. Exhibit A to the Pledge Agreement is
hereby amended and restating in its entirety to read as set forth on Schedule II to this Amendment. 
 7.
Replacement Note. Concurrently with the execution and delivery of this Amendment, the Borrower shall execute and deliver to the Bank a replacement Term Note in a principal amount equal to $25,000,000 (the “New Note”).

 8. Post-Closing Covenants. No later than November 15, 2012, the Borrower shall deliver, or cause to be
delivered, to the Bank: 
 (a) A joinder agreement (the “Joinder”) in form and substance satisfactory to the
Bank, whereby Procurian International II LLC, Procurian IP Holdings, LLC, Media IQ, LLC and Utilities Analyses, Incorporated (each a “Joining Subsidiary”) shall join the Loan Agreement and other Loan Documents as a Borrower,
Obligor, Grantor and Pledgor and grant the Bank a security interest in all their assets. 
 (b) A certificate from a responsible
officer of each Joining Subsidiary certifying (i) that attached thereto is a true and complete copy of the resolutions, in form and substance satisfactory to the Bank, of such Joining Subsidiary authorizing the execution and delivery of the
Joinder and the performance of the Joinder and the Loan Documents to which it is becoming a party pursuant to such Joinder, and that such resolutions have not been amended, modified, revoked or rescinded in any manner and are in full force and
effect, (ii) that attached thereto is a true and complete copy of such Joining Subsidiary’s organizational documents, and that such organizational documents have not been amended, modified, revoked or rescinded and are in full force and
effect, (iii) good standing certificates dated as of a recent date from the Secretary of State or appropriate taxing or other authorities in the jurisdiction of formation of such Joining Subsidiary and (iv) as to the incumbency and
specimen signatures of each officer executing the Joinder on behalf of such Joining Subsidiary; 
 (c) An executed legal opinion
of counsel to the Joining Subsidiaries, addressed to the Bank and covering such matters incident to the transactions contemplated by the Joinder as the Bank may reasonably require; 

  
 5 

 (d) The Bank shall have received UCC lien searches in form and substance satisfactory to it
for the Joining Subsidiaries; and 
 (e) Stock certificates for the certificated interests, if any, in Procurian Switzerland
GmbH, Procurian Spain, S.L., Media IQ, LLC and Utilities Analyses, Incorporated pledged under the Pledge Agreement (as amended by this Amendment), duly indorsed in blank. 
 If the Borrower fails to deliver any of the above items by November 15, 2012 after the date hereof (or such later date as the Bank shall agree to in writing), such failure shall as of such date
constitute an Event of Default, unless the Bank in its sole discretion shall extend the dates for the foregoing deliveries or waive such requirement. 
 9. Representations and Warranties. The Borrower hereby represents and warrants to the Bank that: 
 (a) No Default or Event of Default exists. 
 (b) The representations and
warranties made in the Loan Documents are true and correct in all material respects on and as of the date hereof as if made on and as of the date hereof. 
 (c) The Borrower has the power and authority, and the legal right to make, deliver and perform this Amendment and the New Note and to consummate the transactions contemplated hereby and thereby.

 (d) The execution and delivery of this Amendment and the New Note by and on behalf of the Borrower has been duly authorized
by all requisite action on behalf of the Borrower, and this Amendment and the New Note constitute the legal, valid and binding obligations of the Borrower, enforceable against the Borrower in accordance with their terms. 

(e) The execution, delivery and performance of this Amendment and the New Note the consummation of the transactions contemplated hereby
and thereby will not violate any law or any contractual obligation of the Borrower and will not result in, or require, the creation or imposition of any lien on any of its or their properties or revenues pursuant to any law or any such contractual
obligation. 
 (f) No consent, approval, authorization or order of, or filing, registration or qualification with, any court or
governmental authority or third party is required in connection with the execution, delivery or performance by the Borrower of this Amendment and the New Note, except to the extent obtained on or before the date hereof. 

(g) Procurian Inc. has no subsidiaries formed under the laws of any state of the United States of America that are not party to the Loan
Agreement as a borrower thereunder, other than the Joining Subsidiaries. 
 10. Conditions Precedent. The
effectiveness of this Amendment is subject to the fulfillment, to the satisfaction of the Bank, of the following conditions precedent: 

  
 6 

 (a) The Borrower and the Bank shall have executed and delivered this Amendment. 

(b) The Borrower shall have executed and delivered the New Note. 

(c) Receipt by the Bank of a certificate from a responsible officer of the Borrower dated as of the date hereof certifying (i) that
attached thereto is a true and complete copy of the resolutions, in form and substance satisfactory to the Bank, of the Borrower authorizing the execution, delivery and performance of this Amendment and the New Note and the borrowing of the
Additional Term Loan Increase, and that such resolutions have not been amended, modified, revoked or rescinded in any manner and are in full force and effect, (ii) that attached thereto is a true and complete copy of the Borrower’s
organizational documents (or a statement that there has been no change to such organizational documents since August 3, 2010 (the date they were last delivered to the Bank)), and that such organizational documents have not been amended,
modified, revoked or rescinded and are in full force and effect, (iii) good standing certificates dated as of a recent date from the Secretary of State or appropriate taxing or other authorities in the jurisdiction of formation of the Borrower
and (iv) as to the incumbency and specimen signatures of each officer executing the Loan Documents on behalf of the Borrower. 
 (d) Receipt by the Bank of a certificate of an officer of the Borrower certifying that (i) the representations and warranties made by the Borrower in the Loan Documents are true and correct in all
material respects as of the date hereof, (ii) it is in compliance with all of its covenants contained in the Loan Documents, and (iii) no Event of Default exists or would exist after giving effect to this Amendment, the advance of the
Additional Term Loan Advance, the Acquisition and the transactions contemplated hereby. 
 (e) There shall be no
(i) material actions, suits, proceedings or government investigations pending or threatened against the Borrower or any Subsidiaries, or (ii) material contingent obligations of the Borrower or any Subsidiary. 

(f) There shall have been no material adverse change in the condition (financial or otherwise), operations, properties, assets or
prospects of the Borrower and its Subsidiaries since the date of the audited Financial Statements most recently delivered to the Bank pursuant to the Loan Agreement. 
 (g) The Bank shall have received the executed legal opinion of counsel to the Borrower. Such opinion shall be addressed to the Bank and cover such matters incident to the transactions contemplated by this
Amendment and the New Note as the Bank may reasonably require. 
 (h) The Borrower shall have paid the Bank an amendment fee of
$32,500, which shall be deemed fully earned and non-refundable as of the date of this Amendment, and all expenses of the Bank payable by the Borrower in accordance with Section 16(a) of this Amendment to the extent then invoiced. 

(i) The Bank shall have received evidence satisfactory to it that all necessary actions to perfect and protect the security interests
created by the Pledge Agreement, as amended hereby, including, without limitation, the filing of UCC financing statements in the appropriate jurisdiction, have been taken. 

  
 7 

 (j) The Bank shall have received such additional documents, certificates, and information as
the Bank may reasonably require pursuant to the terms hereof or otherwise reasonably request. 
 11. Affirmations.
The Borrower hereby: (a) affirms all the provisions of the Loan Documents as supplemented and amended hereby, (b) agrees that the terms and conditions of the Loan Documents shall continue in full force and effect as supplemented and
amended hereby, and (c) acknowledges and agrees that it has no defense, set-off, counterclaim or challenge against the payment of any sums owing under the Loan Documents or the enforcement of any of the terms or conditions thereof. The Bank
hereby: (a) affirms all the provisions of the Loan Documents as supplemented and amended hereby, (b) agrees that the terms and conditions of the Loan Documents shall continue in full force and effect as supplemented and amended hereby.

 12. Limited Effect. Except as expressly modified hereby, the Loan Documents shall continue to be, and shall
remain, unaltered and in full force and effect in accordance with their terms, and nothing herein shall constitute a waiver of any Default, Event of Default or, except as expressly provided herein, any terms or provisions of the Loan Documents.

 13. Release and Indemnity. 
 (a) Recognizing and in consideration of the Bank’s agreements set forth herein, the Borrower hereby waives and releases the Bank and its affiliates and the officers, attorneys, agents, employees and
advisors of such Persons (collectively, the “Indemnified Parties”) from any liability, suit, damage, claim, loss or expense of any kind or nature whatsoever and howsoever arising that the Borrower ever had or now has against any of
them through and including the date hereof arising out of or relating to any acts or omissions with respect to this Amendment, the New Note, Loan Agreement, the other Loan Documents or any other matters described or referred to herein or therein or
related hereto or thereto. 
 (b) The Borrower further hereby agrees to indemnify and hold each Indemnified Party harmless from
any loss, damage, judgment, liability or expense (including counsel fees) suffered by or rendered against such Indemnified Party or any of them on account of anything arising out of this Amendment, the New Note, the Loan Agreement, the other Loan
Documents or any other document delivered pursuant hereto or thereto up to and including the date hereof; provided that the Borrower shall not have any obligation hereunder to any Indemnified Party with respect to indemnified liabilities arising
from the gross negligence or willful misconduct of such Indemnified Party as finally determined by a court of competent jurisdiction. 
 14. Integration. This Amendment constitutes the sole agreement of the parties with respect to the terms hereof and shall supersede all oral negotiations and the terms of prior writings with
respect thereto. 

  
 8 

 15. Severability. Any provision of this Amendment which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 16.
Miscellaneous. 
 (a) Expenses. The Borrower hereby agrees to pay all of the Bank’s reasonable
out-of-pocket fees and expenses incurred in connection with the preparation, negotiation and execution of this Amendment, the New Note and the transactions described herein and the other documents executed in connection herewith or therewith,
including without limitation, the reasonable fees and expenses of counsel to the Bank. 
 (b) Governing Law. This
Amendment shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania without regard to its conflict of laws provisions. 
 (c) Successor and Assigns. This Amendment shall inure to the benefit of, and be binding upon, the parties hereto and their respective successors and assigns. 

(d) Counterparts. This Amendment may be executed in one or more counterparts, each of which shall be deemed to be an original, and
all of which shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by telecopy or e-mail shall be effective as delivery of a manually executed counterpart of this Amendment.

 (e) Headings. The headings of any paragraph of this Amendment are for convenience only and shall not be used to
interpret any provision hereof. 
 (f) Modifications. No modification hereof or any agreement referred to herein shall be
binding or enforceable unless in writing and signed on behalf of the party against whom enforcement is sought. 
 [signature page
follows] 

  
 9 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed
and delivered by their proper and duly authorized officers as of the day and year first above written. 
  

			
	PROCURIAN USA INC.
		
	By:	 	/s/ Joseph F. Waterman
	Name:	 	Joseph F. Waterman
	Title:	 	Chief Financial Officer

  

			
	ICG COMMERCE INVESTMENTS, LLC
		
	By:	 	/s/ Joseph F. Waterman
	Name:	 	Joseph F. Waterman
	Title:	 	Treasurer

  

			
	PROCURIAN INTERNATIONAL I LLC
		
	By:	 	/s/ Joseph F. Waterman
	Name:	 	Joseph F. Waterman
	Title:	 	Treasurer

  

			
	PROCURIAN INC.
		
	By:	 	/s/ Joseph F. Waterman
	Name:	 	Joseph F. Waterman
	Title:	 	Treasurer

 
			
	PNC BANK, NATIONAL ASSOCIATION
		
	By:	 	/s/ John Barth
	Name:	 	John Barth
	Title:	 	SVP

  
 11 

 Schedule I to Amendment 

Exhibit “B” to Loan Agreement 
 Illustrative Example for Calculation of Acquired EBITDA and Equalization 

Borrower acquires Newco on August 15, 2012 in a Permitted Acquisition. The first financial covenant test date which would include
Acquired EBITDA of Newco as part of the Adjusted EBITDA calculation is September 30, 2012. 
 The historical EBITDA of
Newco to be included in the calculation of Acquired EBITDA for purposes of determining Adjusted EBITDA will be for the period from October 1, 2011 through August 14, 2012 (the date immediately preceding the date of the acquisition of
Newco). From and after August 15, 2012 through the end of September 30, 2012, the EBITDA of Newco will part of the Borrowers’ actual EBITDA. 
 The historical EBITDA of Newco is to be deemed to have been earned equally during the Equalized Period (i.e., the portion of the Reference Period consisting of full fiscal quarters ended prior to the date
of the acquisition during such Reference Period). Any historical EBITDA of Newco earned in a partially completed quarter during the Reference Period will be included in the calculation of Acquired EBITDA but will not be equalized. 

The Equalized Period in respect of Newco’s historical EBITDA included in the first Reference Period (i.e., ending September 30,
2012) would be the fiscal quarters ended December 31, 2012, March 31, 2012 and June 30, 2012. 
 Therefore,
if Newco earned (x) $1mm of EBITDA for the fiscal quarter ended December 31, 2011; (y) $2mm of EBITDA for the fiscal quarter ended March 31, 2012 and (z) $3mm of EBITDA for the fiscal quarter ended June 30, 2012, for an
aggregate EBITDA during such quarters of $6mm, the historical EBITDA of Newco for each of the fiscal quarters ended December 31, 2011, March 31, 2012 and June 30, 2012 will be deemed to be $2mm (after equalizing the $6mm
aggregate historical EBITDA of Newco over such three full fiscal quarter period). 
 For purposes of determining Acquired EBITDA
after giving effect to the Newco Acquisition, the Acquired EBITDA for the Reference Period ending September 30, 2012 will be equal to $6mm plus Newco’s historical EBITDA for the partial fiscal quarter from July 1, 2012 through
August 14, 2012. 
 For the subsequent Reference Period ending December 31, 2012, Acquired EBITDA will include
Newco’s historical EBITDA from January 1, 2012 through and including August 14, 2012. The Acquired EBITDA for Newco for the Reference Period ending December 31, 2012 will equal $2mm (for the quarter ended March 31, 2012)
plus $2mm for the quarter ended June 30, 2012 plus Newco’s actual historical Newco EBITDA attributable to the dates from July 1, 2012 through and including August 14, 2012. 

 Schedule II to Amendment 

EXHIBIT A TO PLEDGE AGREEMENT 
 The specific assets listed below are pledged as collateral and are restricted from trading and withdrawals. 
  

															
	 Pledgor
	  	 Issuer
	  	Description
of Securities	  	Issuer’s
Jurisdiction	  	Percentage
of Interest	 	 	Cert.
Number	 
	 Procurian Inc.
	  	Procurian USA Inc.	  	Common	  	Pennsylvania	  	 	100	% 	 	 	2	  
						
	 Procurian Inc.
	  	ICG Commerce Investments, LLC	  	Membership
Interest	  	Delaware	  	 	100	% 	 	 	n/a	  
						
	 Procurian Inc.
	  	Procurian International I LLC (f/k/a ICG Commerce International, LLC)	  	Membership
Interest	  	Delaware	  	 	100	% 	 	 	n/a	  
						
	 Procurian International I LLC
	  	Procurian International II LLC (f/k/a ICG Commerce International II, LLC)	  	Membership
Interest	  	Delaware	  	 	100	% 	 	 	n/a	  
						
	 Procurian International I LLC
	  	Procurian IP Holdings, LLC (f/k/a ICG Commerce Mexico II, LLC)	  	Membership
Interest	  	Delaware	  	 	100	% 	 	 	n/a	  
						
	 Procurian International I LLC
	  	Procurian UK Limited (f/k/a ICG Commerce UK Limited)	  	Common	  	UK	  	 	65	% 	 	 	n/a	  
						
	 Procurian International I LLC
	  	ICG Commerce India Private Limited	  	Common	  	India	  	 	65	% 	 	 	1, 3	  
						
	 Procurian International I LLC
	  	Procurian Australia Pty Limited (f/k/a ICG Commerce Australia Pty Limited)	  	Common	  	Australia	  	 	65	% 	 	 	1	  
						
	 Procurian International I LLC
	  	Procurian Singapore Pte. Ltd. (f/k/a ICG Singapore Pte. Ltd.)	  	Common	  	Singapore	  	 	65	% 	 	 	1	  
						
	 Procurian USA Inc.
	  	ICG Commerce (Shenzhen) Co., Ltd.	  	n/a	  	China	  	 	65	% 	 	 	n/a	  

 Schedule II to Amendment 

 

															
						
	 Procurian International I LLC
	  	ICG Commerce Czech Republic s.r.o.	  	Membership
Interest	  	Czech
Republic	  	 	65	% 	 	 	n/a	  
						
	 Procurian International I LLC
	  	Procurian Canadian Inc. (f/k/a ICG Commerce Canada Inc.)	  	Common	  	Canada	  	 	65	% 	 	 	n/a	  
						
	 Procurian International I LLC
	  	Procurian Brasil Serviços de Contractação de Suprimentos Ltda.	  	Membership
 Interest
	  	Brazil	  	 	65	% 	 	 	n/a	  
						
	 Procurian International I LLC
	  	Procurian Switzerland GmbH	  	Membership
Interest	  	Switzerland	  	 	65	% 	 	 	n/a	  
						
	 Procurian International I LLC
	  	Procurian Spain, S.L.	  	Membership
Interest	  	Spain	  	 	65	% 	 	 	n/a	  
						
	 Procurian International I LLC
	  	Procurian Japan G.K.	  	Membership
 Interest
	  	Japan	  	 	65	% 	 	 	n/a	  
						
	 Procurian USA Inc.
	  	Media IQ, LLC	  	Membership
Interest	  	New York	  	 	100	% 	 	 	n/a	  
						
	 Procurian USA Inc.
	  	Utlities Analyses Incorporated	  	Common	  	Georgia	  	 	100	% 	 	 	3, 5, 9, 10, 11, 12	  

  
 14

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