Document:

EX-10.36

 Exhibit 10.36 

 

					
		  		  	***Text Omitted and Filed Separately
Confidential Treatment Requested
Under 17 C.F.R. §§ 200.80(b)(4)
and 203.406

 RESTATED TOLL MANUFACTURING AGREEMENT 

THIS RESTATED TOLL MANUFACTURING AGREEMENT (the “Agreement”), signed as of December 7,
2012 (the “Signature Date”), with an effective date as of December 1st, 2011 (the “Effective Date”), is made and entered into by and among Agro Industrie Recherches et Développements, S.A., a French entity (“ARD”), BioAmber S.A.S., a
French entity (“BioAmber”) and BioAmber Inc., a Delaware corporation (“BioAmber US”). 

PRELIMINARY STATEMENTS 
 WHEREAS BioAmber US, ARD and BioAmber have signed a Transitional Work Plan Agreement as of September 30th, 2010 (the “Transitional Work Plan Agreement”) providing for the possible entry into force of a Toll
Manufacturing Agreement; 
 WHEREAS BioAmber US, ARD and BioAmber have signed a Toll Manufacturing
Agreement as of September 30th, 2010, which entered
into force as of November 8th, 2011 (the
“Initial Toll Manufacturing Agreement”); 
 WHEREAS BioAmber US, ARD and BioAmber have agreed to revised terms
and conditions relating to their relationship in connection with the Initial Toll Manufacturing Agreement and therefore with to execute a Restated Toll Manufacturing Agreement, being this Agreement; 

WHEREAS, BioAmber agrees to grant, for the duration of this Agreement, to ARD a non-exclusive, worldwide, royalty free license to any
intellectual property rights (“IP”) (i.e. any required licensed patents and licensed know-how granted by BioAmber US to BioAmber as defined in the License Agreement between BioAmber US and BioAmber dated 25 September 2008, with the
exclusion of the Derivative Products) required solely for ARD to perform its obligations as defined in this Agreement. ARD shall have the right to sublicense any of the aforementioned rights to third parties. ARD’s permitted use of the rights
granted pursuant to the aforementioned license or sub-licenses shall be solely limited to the performance by ARD of its obligations provided in this Agreement. 
 WHEREAS BioAmber US accepts to warrant the performance by BioAmber of all its obligations mentioned in this Agreement. 
 WHEREAS ARD and BioAmber now wish to agree on the terms and conditions of such Restated Toll Manufacturing Agreement; 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged
by each party, and intending to be legally bound hereby, the parties agree as follows: 

  
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 STATEMENT OF AGREEMENT 

 

	 	1.	TOLL MANUFACTURING 

  

	 	1.1	BioAmber hereby agrees to retain the services of ARD for the production of succinic acid, either in technical grade or in polymer grade, as more fully described in this
Agreement (respectively the “Technical Grade Product” and the “Polymer Grade Product”, or collectively the “Product”), at ARD’s succinic acid demonstration plant (“Demonstration
Plant”), and located at Pomacle, France, adjacent to the Chamtor wheat mill, for a quantity of Product limited to the production capacity of such demonstration plant and according to the terms and conditions provided in this Agreement.

 It is understood between the Parties that at the Effective Date, and solely in order to establish the maximum
production capacity of ARD, the Demonstration Plant has the following estimated capacities, based on the Product Specifications attached hereto as Schedule W and based on the actual process for the manufacture of the Products more fully described in
the document entitled Process Diagram TG (attached hereto as Schedule X), being in possession of both parties; BioAmber recognizes that any change in the Product Specifications or in such Process Diagram TG (including resulting from the use of an
anionic columns treatment unity or the recycling of mother liquor in nanofiltration) may reduce such production capacity of the Demonstration Plant: 
  

	 	•	 	 2,000 metric tons for Technical Grade Product, provided however the Demonstration Plant works 8,000 hours annually in [***] protocol mode only
(“[***]”, it being, fermentation media based on [***]); 

  

	 	•	 	 1,647 metric tons for Technical Grade Product, provided however the Demonstration Plant works 8,000 hours annually in [***] protocol mode only
(“[***]”, it being fermentation media based on [***]); 

  

	 	•	 	 A certain number of metric tons for Polymer Grade Product, being the number of Technical Grade Product produced and used for producing Polymer Grade
Product multiplied by a factor [***]. 

  

	 	1.2	 ARD shall provide such services to BioAmber on an exclusive basis, and ARD agrees that, for the term of this Agreement, no other activity will be
conducted at the Demonstration Plant without the prior written approval of BioAmber. The parties agree that during the term of this Agreement and during each of the Renewed Terms, BioAmber shall have the right, at its discretion, to perform
research & development activities in the Demonstration Plant relating to its succinic acid products or other products, subject to any required regulatory authorizations, provided that (i) BioAmber may not perform such
research & development activities during a period corresponding to more than 50% of the total time during which it is entitled to use the Demonstration Plant, and (ii) if such research & development activities are not
permitted activities under the 

  
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actual insurance policies covering the Demonstration Plant, BioAmber shall, prior to performing such activities, obtain the required insurance policies, at ARD’s satisfaction, acting
reasonably. In the event that the Demonstration Plant is not operating at full capacity, ARD will have the ability to propose to a third-party manufacturing services in the Demonstration Plant to produce non-succinic acid related products, in order
to reduce labor costs for BioAmber. Such third party manufacturing services shall be at BioAmber’s sole discretion and BioAmber shall be under no obligation to accept the production of non-succinic acid related products. For the avoidance of
doubt, in the event that ARD does not find a third-party duly approved by BioAmber accepting to enter into a manufacturing contract in the Demonstration Plant to produce non-succinic acid related products, BioAmber shall have to pay to ARD the
applicable labor costs listed in Appendix Z and fixed costs related to CO2 storage, Carbon filter rental, fork lift rental and rain water (as provided in Schedule Y) borne by ARD as provided in this Agreement resulting directly from the
Demonstration Plant not operating at full capacity. BioAmber US shall also have the right to propose a third party for manufacturing services to reduce labor costs, subject to the approval of ARD; should ARD not give its approval, BioAmber shall
have to pay ARD according to the provisions hereinabove. 

  

	 	2.	SPECIFICATIONS 

  

	 	2.1	ARD agrees that it shall manufacture the Products (based on Purchase Orders, as defined in section 10 of this Agreement) in accordance with the specification sheets
listed and attached hereto as Schedule W (the “Product Specifications”). The parties recognize that the Product Specifications are subject to change over the term of this Agreement. After each production batch, and at any other time
upon BioAmber’s request, ARD shall deliver to BioAmber samples of the Product manufactured by ARD and the results of its analytical tests. 

  

	 	2.2	In the event of a change of the Product Specifications that would trigger additional costs and/or a material change to the production process, and/or material change of
schedule for ARD, and only if ARD has provided BioAmber, in writing, with evidence of same, BioAmber shall assume such additional costs through the adjustment of the then applicable Target Usage Factors and the consequent Price paid by BioAmber for
a metric ton of succinic acid produced. 

  

	 	3.	LABELLING AND PACKING 

  

	 	3.1	ARD shall package and label the Product so as to conform with the specifications relating to labelling and packing (the “Packaging Specifications”)
provided from time to time by BioAmber. ARD shall be solely responsible for insuring that the Product is labelled and packed in conformity with the Packaging Specifications. The current Packaging Specifications are attached hereto as Schedule T.

  
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	 	3.2.	ARD shall supply at BioAmber’s cost the material required to effect the labelling and packing of the Product (the “Packing Materials”). ARD will
be responsible for the quality of the Packing Materials. In the event of a change to the Packaging Specifications that would trigger additional costs and/or change of process or material change of schedule for ARD, BioAmber shall pay any additional
costs related therewith. 

  

	 	4.	MODIFICATIONS TO THE SPECIFICATIONS 

  

	 	4.1	ARD will not make any changes in the specifications covering the manufacturing or processing of the Product or the production process without the express written
consent of BioAmber. BioAmber may modify the Product Specifications, the Packaging Specifications or the Quality Standards (as defined in Section 5.2 below) by giving written notice of such change to ARD. Any change in the Product
Specifications or the Packaging Specifications that would have an adverse effect on the production costs or schedule of the Product or on the process will be subject to good faith negotiations by the parties as to modifications in the Price and/or
delivery schedule of the Product. ARD shall not be required to implement any changes in the Product Specifications, in the Packaging Specifications or in the Quality Standards to the extent that these changes are impracticable as a result of a cause
or causes outside the reasonable control of ARD, including without limitation infeasible technological requirements or to the extent the approval of the changes would require ARD to violate any applicable laws, rules or regulations or would result
in the breach of any agreement, including without limitation, any confidentiality, non disclosure, or license agreement. 

  

	 	5.	CONTROL AND QUALITY 

  

	 	5.1	A Steering Committee will be put in place following the entry into force of this Agreement, consisting of one representative designated by BioAmber from time to time
and one representative designated by ARD from time to time. Such committee (i) will oversee the application of this Agreement and any process development or optimization work and (ii) shall remain in force until the termination of this
Agreement. In the event of any disagreement, the parties undertake to cooperate with diligence and good faith in order to find an amicable solution to any dispute that may arise between them, it being understood that BioAmber, as exclusive
beneficiary of the Demonstration Plant and the party liable for the operational cost of the Demonstration Plant during the term of this Agreement, shall make the final decision. If an amicable solution is not found and agreed to between the members
of the Steering Committee with respect to any disagreement within a period of two (2) weeks from its occurrence, BioAmber shall have the sole authority to make a final decision regarding the concerned disagreement. In the event that BioAmber
imposes a decision that ARD does not agree with, and ARD notifies BioAmber of its objection in writing, indicating the reasons for its objection, BioAmber shall be responsible for any cost related to lost batches or partially lost batches that are
the direct result of the decision imposed by BioAmber, if ARD has complied with all standard operating procedures and fulfilled its obligations under this Agreement, subject to all applicable laws. 

  
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	 	5.2.	ARD is to manufacture the Product in accordance with the Product Specifications and the prescribed quality norms and standards of good workmanship, as determined by
BioAmber in collaboration with ARD (the “Quality Standards”) as attached in Schedule V[NTD: ADDITIONAL PROCEDURES MAY NEED TO BE ADDED TO SCHEDULE V]. The Quality Standards may be amended, as provided for in Section 4.1.
In case of change of the Quality Standards that would trigger important additional costs and/or important changes to the process or an change of schedule for ARD, BioAmber shall be responsible for any related modifications in the Price and/or
delivery schedule of the Product, and only if ARD has provided BioAmber in writing, with evidence of same. 

  

	 	5.3.	ARD and BioAmber shall conform to all laws and regulations applicable to the production of Products in the Demonstration Plant and to the defined Quality Standards
relating to manufacturing, processing, storing and shipping of Product, without in any event being in breach of any French laws and regulations. 

  

	 	6.	EXCLUSIVE RIGHTS 

  

	 	6.1	Except as may be otherwise provided in this Agreement, ARD covenants to manufacture and furnish the Product exclusively to BioAmber or parties designated by BioAmber
subject to QC Release by BioAmber. Furthermore, ARD covenants that it shall in no way apply any aspect of the IP to which ARD may have access in connection with this Agreement in the manufacture of the Product for third parties unless expressly
authorised by BioAmber. 

  

	 	7.	PRICE 

  

	 	7.1	The parties agree that, in consideration of the manufacture by ARD of the Product in accordance with the terms of this Agreement, BioAmber will pay to ARD, (i) 50%
of the capital investments or equipment leasing required for new unit operations related to improving product quality that is mutually agreed by the Parties in writing, and (ii) the following, for any Product produced by ARD according to the
terms of this Agreement, duly approved by BioAmber in accordance with the terms of Sections 9 and 11 and being QC Released by BioAmber (a “Successfully Produced Product”): 

 

	 	7.1.1	 For the period from December 1st, 2011 until March 31st, 2012, a fixed price of [***] Euros/MT for Technical Grade Product and [***] Euros/MT for Polymer Grade Product,
including all manufacturing and packaging costs, but excluding labor costs; 

  

	 	7.1.2	 For the period from April 1st, 2012 until June 30th, 2012, a fixed price of [***] Euros/MT for Technical Grade Product and [***] Euros/MT for Polymer Grade Product
(including all manufacturing and packaging costs, 

  
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but excluding labor costs), based on the target usage factors listed in Schedule Y attached hereto related to the manufacture of the Product either in Technical Grade or Polymer Grade and which
are broken out into variable and fixed costs (the “Target Usage Factors”); 

 any change in the
unit price of the ingredients listed in the first column of Schedule Y (the “Ingredients”) during the aforementioned period will result in an adjustment (up or down) in the price BioAmber pays ARD, as defined in 7.1.1 and 7.1.2.

 Furthermore, any reduction in the labor costs listed for such period in Schedule Z attached hereto will benefit solely to
BioAmber; 
  

	 	7.1.3	 For the period from July 1st, 2012 until September 30th, 2012, a price calculated in Euros per metric ton of Successfully Produced Product produced by ARD, which price shall
be calculated as follows: the average usage factors measured for all batches of Successfully Produced Product produced in an operating mode of three (3) batches per week (any batch produced other than in an operating mode of three
(3) batches per week will not be counted) during the period from April 1st, 2012 until June 30th, 2012 (such average may not be higher than the Target Usage Factors indicated in subsection 7.1.2), multiplied by the Ingredients’ unit price then in effect (it being understood that any change in
the unit price of such Ingredients will result in an adjustment (up or down) in the price charged to BioAmber), but that any reduction in the consumed quantity of any relevant Ingredient (owing to process, operator or other improvements) necessary
for producing the Product shall be shared equally between ARD and BioAmber unless said Ingredient reduction is obtained due to a process expressly imposed on ARD by BioAmber in writing; 

 

	 	7.1.4	 For the period from October 1st, 2012 until December 31st, 2012, and for any subsequent periods of three (3) months, a price calculated in Euros per metric ton of
Successfully Produced Product produced by ARD, which price shall be calculated as follows: the average usage factors measured for all batches of Successfully Produced Product produced in an operating mode of three (3) batches per week (any
batch produced other that in an operating mode of three (3) batches per week will not be counted) during the preceding period of three (3) months (such average may not be higher than the usage factors used to determine the price for the
preceding period of three (3) months), multiplied by the Ingredients’ unit price then in effect (it being understood that any change in the unit price of such Ingredients will result in an adjustment (up or down) in the price charged to
BioAmber), but that any reduction in the consumed quantity of any relevant Ingredient (owing to process, operator or other improvements) necessary for producing the Product shall be shared equally between ARD and BioAmber, unless said Ingredient
reduction is obtained due to a process change expressly imposed on ARD by BioAmber in writing, in which case the reduction shall be for the sole benefit of BioAmber. 

  
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	 	7.1.5	The Parties agree that for the purpose of Sections 7.1.1 to 7.1.4, the price of the Ingredients shall be increased or decreased based on any increase or decrease of the
unit price of any of the Ingredients listed in the Schedule Y attached hereto, on the basis of the unit price then in effect, it being understood that ARD hereby undertakes to (i) use its best efforts to purchase any Ingredient listed in Schedule Y
at the best available price on the market; and (ii) in the case of specific Ingredients such as raw materials and utilities purchased from affiliates of ARD (e.g. Chamtor and Cristal Union), ARD shall purchase according to the pricing formulas
listed in schedule Y; and (iii) to maintain separate accounting for all purchases made on behalf of the Demonstration Plant, including all Ingredients listed in Schedule Y, so that such purchases can be readily audited by BioAmber as per the process
defined in this Agreement; 

  

	 	7.1.6	A tolling fee of [***] of the variable and fixed costs (as defined in schedule Y of this Agreement) calculated according to sections 7.1.1 to 7.1.5 will be paid to ARD
on a quarterly basis, based on the quantity of Successfully Produced Products produced by ARD during each applicable quarter in Technical Grade or in Polymer Grade; 

 

	 	7.1.7	 BioAmber shall pay to ARD one hundred percent (100%) of the labor costs related to the production of the Product, as more fully described in the
attached Schedule Z, provided all such employees are hired by ARD. Labor costs shall be capped at an amount of [***], such amount being the total labor costs for the personnel of the Demonstration Plant in the event that the Demonstration Plant is
operating at full capacity. Any new hiring of staff will be subject to the prior written consent of BioAmber, it being understood that any increase in labor costs resulting from laws or applicable regulations, as well as a 3% annual increase in
employees’ salaries, shall not be subject to BioAmber consent and/or to the labor cost cap as defined hereinabove (it being understood that such labor cost cap may only be increased with respect to potential increase in employees’ salaries
that will be applicable from and after July 1st,
2013). Any changes to the labor costs listed in Schedule Z will require the prior written consent of BioAmber, which shall act reasonably taking into account the content of this paragraph; 

 

	 	7.1.8	 In the event that the manufacture of Products with the use of the [***] with the purpose of eliminate the Product’s [***] results in additional
cost for ARD, then BioAmber agrees that, subject to mutual agreement between ARD and BioAmber with respect to the determination of these additional costs from time to time, BioAmber is

  
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prepared to pay a maximum additional amount of [***]/MT for any Technical Grade Product produced and of [***]/MT for any Polymer Grade Product produced. 

 

	 	7.2.	ARD will provide BioAmber with a monthly calculation of Usage factors as well as a monthly update of the purchase price of Ingredients. 

 

	 	8.	INVOICES, PAYMENT 

  

	 	8.1	ARD shall submit original invoices to BioAmber in form, substance and format reasonably acceptable to BioAmber, within sixty days following the QC Release of each
Products produced during the term of this Agreement. All invoices must reference BioAmber’s Purchase Order number, contain an itemization of the amount of Product provided in connection with the applicable invoice period and any other
information reasonably requested by BioAmber, including the invoices received by ARD related to any costs to be borne by BioAmber pursuant to the Agreement, and must otherwise comply with the provisions of this Agreement and such reasonable
requirements as may be prescribed by BioAmber from time to time. Invoices shall be addressed as directed by BioAmber. 

  

	 	8.2	BioAmber is to pay any undisputed invoice submitted by ARD concerning the Product within fifteen (15) days of receipt of such invoice. In the event any invoice is
disputed the undisputed amount shall be paid immediately. An interest rate equal to the BCE interest rate plus 10 basis points shall automatically apply to any unpaid amounts as required by French law. 

 

	 	9.	DELIVERY 

  

	 	9.1	 The Technical Grade Products and Polymer Grade Products ordered by BioAmber through communication of Purchase Orders shall be delivered on behalf and
under the sole liability and risk of BioAmber according to ICC Incoterm EXW to the Demonstration Plant and as per the schedule of delivery indicated by BioAmber in the Purchase Order duly approved by ARD (as provided in Section 10 below). It is
agreed by the Parties that the liability and risk listed above for both Technical Grade and Polymer Grade products shall only be assumed by BioAmber after it has taken title of ownership, and that title of ownership of the Products shall only pass
to BioAmber as from QC Release (as hereinafter defined in Section 11 of this Agreement) according to ICC Incoterm EXW to the Demonstration Plant. The acceptance of the Product and the payment thereof (as provided in Section 8 above), by
BioAmber, shall at all times take place under reserve of inspection and approval by BioAmber that shall be completed by BioAmber no later than fifteen (15) business days after having received samples of the quarantined Products (which samples
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according to Schedule V standard operating procedure INS-BIO-A-ECHMOY) and the analytical data from the Demonstration Plant and any analytical data generated by ARD, unless BioAmber avails itself
of any of its rights provided in this Section 9.1. During such period, BioAmber shall have the right to perform its own analysis of the Product (it being understood that should BioAmber wish to take additional samples of the Product from the
sealed off bags (as provided in this Section 9), in addition to those taken by the parties according to Schedule V standard operating procedure INS-BIO-A-ECHMOY, both Parties will meet to open up the relevant sealed off bags and jointly affix a
new seal after the new sample is extracted.) from the sample received as provided for in this section 9. The analytical methods and equipment (including limits of detection) to be used by BioAmber are listed in Schedule U, which may not be
modified by BioAmber without the prior written consent of ARD. BioAmber shall have the right to refuse all or part of the Products being analysed in consideration of the fact that the Product does not conform with the Product Specifications.
BioAmber may issue reservation and make claims by email with confirmation of receipt sent to ARD within fifteen (15) business days after having received samples of the Products. ARD shall be in position to remedy the reservations and claims at
any time within thirty (30) days as of the reception of the above mentioned reservations and claims. ARD shall be responsible for all costs reasonably incurred for supplemental analysis undertaken by ARD or by a third party, unpacking,
inspection, repacking and storing of any Product refused by BioAmber by virtue of this Section 9.1 and ARD shall pay such costs upon presentation of documents as proof, provided that BioAmber demonstrates that the Product does not meet Product
Specifications. For sake of clarity, should BioAmber avail itself of any of its rights provided in this Section 9.1, the title of ownership and the risk of loss and product liability shall not be transferred to BioAmber and ARD shall thus be
responsible for any costs or loss. 

 The parties agree that, in addition to the average representative samples
taken by the parties from each big bag (containing 500 kg of Products) pursuant to the procedure provided in the standard operating procedure INS-BIO-A-ECHMOY, individual samples will be taken by the parties at the same time from each big bag
comprised in a lot and will be sent to BioAmber together with the average representative samples. Within the fifteen (15) business days period provided in Section 9.1, BioAmber will analyse, at its discretion, the average representative
samples and/or all or part of the individual samples received and will inform ARD of any refusal of all or part of the analysed samples according to the provisions contained in this Agreement. 

In the event that BioAmber determines that Products do not conform to the Product Specifications only based on an average representative
sample, then the following shall apply: 
  

	 	(i)	BioAmber shall notify ARD according to the provisions contained in this Section 9 (i.e. within fifteen (15) business days after having received the samples
for the Products) that the Products do not conform to the Product Specifications; 

  
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	 	(ii)	ARD may request, within forty-eight (48) hours following the date of the notice provided in the preceding Section (i), that BioAmber proceeds with the analysis of
all or part of the individual samples corresponding to the big bags refused based on the average representative sample; 

  

	 	(iii)	If ARD has exercised its rights pursuant to the preceding subsection (ii), BioAmber shall proceed with the analysis of the individual samples corresponding to the big
bags refused based on the average representative sample and the provisions contained in this Section 9 shall apply with respect to the analysis and review of such individual samples as if they would have been received by BioAmber at the expiry
of the forty-eight (48) hours period provided in the preceding subsection (ii), except that the fifteen (15) business days period shall be replaced by a twenty (20) business days period; for clarity, ARD shall reimburse BioAmber for
all costs incurred in connection with the analysis of the individual samples for each individual big bag being confirmed as being non conform as a result to such individual analysis being made by BioAmber, which costs shall not exceed [***]/big bag,
it being understood that the parties will, in good faith, determine the costs of each test comprised in the analytical methods described in Schedule U attached hereto, and establish a standard cost per test. 

For clarity purposes, and without limiting the rights of BioAmber provided in the preceding paragraph, the right to take any additional
samples by Bioamber, in addition to those initially sent together with the average representative samples, does not modify the QC Release procedure convened by the Parties under the Agreement, notably with respect to the following items: 

 

	 	a)	within the fifteen (15) business days period provided in Section 9.1, BioAmber shall take/obtain the requested additional samples, analyse them and (as
the case may be) inform ARD of any refusal of all or part of the additional analysed sealed off bags (provided ARD’s personnel is reasonably available to open the sealed off bags with a member of BioAmber’s personnel and take the
additional samples); 

  

	 	b)	The sealed off bags under additional samples analysis shall be QC Release in compliance with Section 11.3 of the Agreement. 

In order to facilitate and accelerate the analysis of the samples of the Products, the parties agree that BioAmber may install in the
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equipment in order to be able to proceed with the analysis of the samples of the Products received from ARD in the Demonstration Plant rather than in one of its other facilities. The use of
BioAmber’s equipment will be reserved exclusively to BioAmber’s personnel or authorized parties, it being understood that ARD or the jointly designated qualified third party analytical lab could have access to such BioAmber’s
equipment, subject to BioAmber’s approval, which shall not be unreasonably refused. If BioAmber elects to do so, the parties will negotiate in good faith a reduction in the analytical fees invoiced by ARD to BioAmber with respect to the
Products. 
 In the event of any disagreement between ARD and BioAmber stemming from the refusal by BioAmber to approve any
Product in connection with BioAmber’s right of inspection and approval provided in this subsection 9.1 (with respect to either the average representative samples or any individual samples taken in any particular big bag), ARD and BioAmber agree
to jointly designate a qualified independent third party analytical lab who shall proceed with an analysis of the concerned Product and shall determine if such Product is in accordance or not with the Product Specifications. Such third party
analytical laboratory shall be, until agreed otherwise by the parties, SGS. The analytical results of such third party, performed in triplicate, shall solely determine whether or not the contested Product meets Product Specifications, and the
Parties agree to respect the results generated by the independent third party. The analytical methods and equipment (including limits of detection) to be used by third parties are listed in Schedule U. The parties will agree in good faith on the
independent third party labs (e.g. SGS) that will undertake analyses in the event of a disagreement, subject to their having the necessary equipment and capabilities. By decreasing order of preference, said independent third party lab (e.g. SGS)
will perform the required analysis (i) in their own laboratory, (ii) in a third party’s laboratory jointly approved by the parties every time a specific analysis can only be performed with said third party’s equipment,
(iii) in ARD’s laboratory every time a specific analysis can only be performed with ARD’s equipment or (iv) in BioAmber’s laboratory every time a specific analysis can only be performed with BioAmber’s equipment.

 Should the independent party lab (e.g. SGS) ultimately determine that the Products are in conformity with the Product
Specifications, then any costs associated with that independent third party lab analysis shall immediately be borne by BioAmber or reimbursed by BioAmber to ARD, as the case may be, and the Product shall automatically be deemed QC Released.
Otherwise, all costs associated with the independent third party lab analysis will be borne by ARD and the Product will not be QC Released. 
  

	 	9.2.	If a force majeure event, as defined hereafter, occurs between the receipt of a Purchase Order and the stated date for the delivery of the Product, and if this event
prevents delivery within the time period stated in Agreement between the parties, ARD must inform BioAmber immediately by fax or e-mail with confirmation of receipt within 3 (three) business days at the latest as of the occurrence of the force
majeure event. 

  
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 If ARD does not comply with the provisions stipulated in the preceding paragraph, it shall
not be able to rely on any event of force majeure. 
  

	 	9.3.	Neither party may be held liable towards the other for any breach of its obligations hereunder if the sole cause of such breach is a force majeure event.

 A force majeure event means an event beyond the control of the party which has not performed its obligation,
such as strikes, natural disaster, social unrest, war, unavailability of means of transport, embargo. 
 The performance of
obligations shall resume its normal course as soon as the force majeure event has ceased. 
 If the force majeure event lasts
longer than a period of three months, each party shall have the option of automatically terminating this Agreement without damages due from either side. 
  

	 	10.	PURCHASE ORDER 

  

	 	10.1	ARD shall manufacture the Product as provided in purchase orders received from BioAmber (“Purchase Orders”) with respect to Technical Grade Product and
to Polymer Grade Product. ARD shall insure that each order complies with the quantities and dates of shipping indicated in the applicable Purchase Order. It is expressly understood that the terms and conditions of this Agreement along with the
quantities of the Product and the dates of shipping indicated in a Purchase Order, will govern the sale of such Product notwithstanding any contradictory, additional or different terms and conditions that may be contained within a Purchase Order, in
an acknowledgement, invoice or receipt or any kind of communication between the parties 

  

	 	10.2.	The Purchase Orders for Technical Grade Product and Polymer Grade Product shall be sent to ARD by email with confirmation of receipt. The Purchase Orders must, in
particular, mention the quantity and the date of delivery, it being understood that each Purchase Order will be for a quantity of at least One Hundred (100) MT of Product and that, for each Purchase Order, ARD will have the obligation to begin
the production of Products relating thereto no later than one (1) month following the date of receipt of each applicable Purchase Order (for clarity, ARD will benefit of a delay of no more than one (1) month before the date of receipt of
each Purchase Order and the date of the beginning of the production relating to each such Purchase Order). 

  

	 	10.3.	 The delivery dates related to the Purchase Orders are subject to confirmation by ARD, taking into account ARD’s production schedule, work in
progress and the availability of raw material. In the event ARD is not able to respect a delivery 

  
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date, the parties will agree to a revised delivery date. The Purchase Orders shall be deemed to have been accepted by ARD if it has not made any written reservations in relation to them within
eight (8) business days after the date of the confirmation of receipt of the corresponding email, it being specified that the aforesaid reservations must in any event be formally accepted by BioAmber. 

 

	 	11.	PROPERTY AND RISKS 

  

	 	11.1	Transfer of risks of the Product and the risk involved in the loss of the Product shall be transferred from ARD to BioAmber when the Product is QC Released.

  

	 	11.2.	Title of ownership shall be transferred from ARD to BioAmber upon QC Release. 

 

	 	11.3.	The Product will be released according to the provisions of this Agreement as soon as any of the following events happens (“QC Release”):

 11.3.1. when the fifteen (15) business days delay specified in Section 9.1 of this Agreement is
reached but only if during such period BioAmber has not indicated to ARD that it is not satisfied that such Product meets the Product Specifications and/or Packaging Specifications; or, 

11.3.2. when prior to the term defined in section 11.3.1 above the Product have been reviewed by BioAmber according to the provisions of
section 9 and BioAmber notifies ARD in writing that it is satisfied that such Product meets the Product Specifications and Packaging Specifications.; or, 
 11.3.3. if BioAmber moves the Products out of the Demonstration Plant without the prior express written consent of ARD. 
 11.3.4. when according to the provisions of section 9.1 the Product is deemed QC Released (solely if such determination is made by a third party laboratory) or BioAmber notifies ARD in writing of its
intention to take the Product despite its non comformity to the Product Specifications. 
 Upon any of the above event
occurrence, the Product will be released from quarantine and BioAmber will assume title of ownership as well as any risk associated with such ownership. 
  

	 	11.4	BioAmber’s personnel will ensure that no Product shall leave BioAmber’s designated warehousing facility within the Demonstration Plant or be delivered to the
designated carrier as provided in Section 9.1 prior to having been QC Release and having been closed with seals. BioAmber shall commit to complete the QC process in order to limit as much as possible the amount of quarantined Products
inventory. 

  
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	 	11.5	Subject to Section 11.6, and unless otherwise agreed to between the Parties, BioAmber’s employees shall not have access or manipulate any Product not having
been QC Released, except in the presence of ARD’s employees and for the purpose of obtaining samples of such Products. 

  

	 	11.6	Notwithstanding the preceding Section 11.5, BioAmber’s employees may have access to Products not having been QC Released, solely in order to move them from
the production area of the Demonstration Plant to the warehouse of the Demonstration Plant, provided such Products are in big bags and have been sealed by ARD prior to any manipulation by BioAmber’s employees. It is agreed that by doing so,
BioAmber will be deemed to have approved the Packaging Specifications solely related to each such Product being moved by BioAmber’s employees, but for clarity, the transfer of risks and ownership of such product as well as its QC Release shall
only occur when the terms and conditions described in Sections 11.1 to 11.4 will be met (except with respect to the Packaging Specifications). 

  

	 	12.	REPRESENTATIONS AND WARRANTIES 

  

	 	12.1	ARD represents and warrants to BioAmber: 

  

	 	12.1.1	That at the time of the QC Release, ARD will be the sole owner of the Product and that the said Product will be free of any lien, will not be liable to seizure or
garnishment and will not be subject to any right or claim from third parties. That the Products, when delivered to BioAmber, will comply with the Product Specifications, the Packaging Specifications and have been produced in compliance with the
standard operating procedures and master batch records attached hereto as Schedule V, in addition to any other requirement, terms and conditions as provided for in this Agreement. 

Notwithstanding the preceding, in the event that BioAmber imposes a decision that ARD does not agree with related to the Product
Specifications, the Packaging Specifications, the standard operating procedures and/or the master batch records of any Product to be manufactured by ARD in connection with this Agreement, and ARD notifies BioAmber of its objection in writing,
indicating the reasons for its objection, then, if ARD has complied with all applicable standard operating procedures and master batch records and fulfilled its obligations under this Agreement, subject to all applicable laws, ARD shall not have any
liability under this section 12.1.1 in the event that the concerned Product, when delivered to BioAmber, does not comply with the Product Specifications or the Packaging Specifications, if such non compliance is the result of the decision imposed by
BioAmber. 
  

	 	12.1.2	Subject to the provisions of 12.1.3, that it has obtained all the insurances, permits and authorizations required for the purpose of manufacturing and packaging the
crystalline succinic acid as required by law subject to any assistance BioAmber might provide with this respect. 

  
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	 	12.1.3	With respect to REACH, all costs related to registration shall be borne by BioAmber, but ARD will provide any reasonable assistance to BioAmber in connection with such
registration; 

  

	 	12.1.4	That it has all the powers as required by law to sign this Agreement, to exercise its own rights and to comply with the obligations resulting from this Agreement, and
is not a party to any contract whereby it would be prohibited from being a party to this Agreement. 

  

	 	12.2.	BioAmber represents and warrants to ARD that it has all the powers as required by law and has determined with appropriate legal assistance that it is authorized to sign
this Agreement, to exercise its own rights and to comply with the obligations resulting from this Agreement, and is not a party to any contract whereby it would be prohibited from being a party to this Agreement. 

 

	 	13.	INDEMNITY 

  

	 	13.1	ARD shall hold BioAmber free of any direct damage, costs (including reasonable legal and adjustment costs), losses and claims that BioAmber would have to pay relating,
directly to: 

  

	 	13.1.1	The failure by ARD to fulfill or meet any obligation, engagement, representation or warranty as stipulated in this Agreement. 

For the avoidance of doubt, this article 13 does not apply to any claim made pursuant to 9.1 when ARD has remedied the reservation and
claims made by BioAmber in accordance with section 9.1 of this Agreement. 
  

	 	13.1.2	Any direct damages or material losses resulting from any Product ARD produces which is not in compliance with the standard operating procedures and master batch records
attached hereto as Schedule V or resulting from gross negligence on the part of ARD or the obvious failure of ARD to comply with the Product Specifications or the Packaging Specifications at the time such Product was produced.

 No party shall, in any case, be liable to the other party for any indirect consequential, consecutive,
pecuniary and/or punitive damages suffered by such other party upon execution of the Agreement. 
  

	 	13.1.3	The amount of the indemnification for which ARD may be liable with respect to any damage suffered by BioAmber will be calculated after deducting, if any, the amount of
any benefit received by BioAmber from an insurance company on direct account of the damages giving rise to the claim. 

  
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 The amount of the indemnification for which ARD may be liable with respect to any damage
suffered by BioAmber will be calculated after deducting, if any, the amount of the benefit resulting from an immediate tax savings benefiting to BioAmber as a result of the tax deductibility of said damages. 

 

	 	13.1.4	ARD shall not be liable under this Article 13 unless a Claim Notice has been given at the latest by the first anniversary date following the occurrence date of the
event giving rise to the Claim under this Section 13 at which this Agreement is terminated. 

 BioAmber may
give notice of a Claim against ARD under this Article 13 (a “Claim Notice”) during the applicable claim period set out in this article 13.1.4. 
 Once BioAmber has become aware of events that are likely to give rise to Claims under this article 13, BioAmber must give notice of such Claims within 20 (twenty) Business Days from the date at which
BioAmber has become aware of the events that were likely to give rise to such Claim. Failure to provide such Claim Notice within such time period will not operate to relieve ARD of any liability for such claim. 

ARD shall be deemed to accept any Claim made by BioAmber and shall be liable to indemnify BioAmber Party for the amount of damages
requested in such Claim (subject to the limitations set out in this article 13) unless ARD have given BioAmber a notice within 30 days following the Claim Notice substantially evidencing that ARD is not in breach. For the avoidance of doubt, shall
ARD not reply within 30 days, this lack of reply shall be regarded as an acceptance of the Claim by ARD. If the notice to BioAmber following the Claim Notice is not given within 30 days or if said notice does not substantially evidence that ARD is
not in breach, BioAmber shall be entitled to ask to ARD for payment of the indemnities within twenty (20) business days as from the expiration of the above 30-day period. 
 Parties shall in good faith discuss any and all Claims with a view to reaching agreement on whether and to what extent ARD is liable for the damage. 

If ARD and BioAmber are unable to reach agreement within a period of two (2) months on the amount of the damage to be indemnified by
ARD, each party shall be free to exercise any available remedies pursuant to the applicable law, subject to Section 22.9. 

  
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	 	13.1.5	The liability cap for ARD under this Article 13 shall be limited, for each batch or each lot of ten (10) metric tons of Product, to the amount of the corresponding
payment made by BioAmber to ARD (related variable costs, fixed costs, labour costs and tolling fees), and, annually, to 20 % of the turn-over excluding taxes realised by ARD with BioAmber, excluding any situation of gross negligence or wilful
misconduct on the part of ARD. 

  

	 	13.2.	BioAmber and/or BioAmber US shall hold ARD free of any direct damage, costs (including reasonable legal and adjustment costs) or losses and claims that ARD would have
to pay relating directly to: 

  

	 	13.2.1.	The failure by BioAmber to fulfill or meet any obligation, engagement, representation or warranty as stipulated in this Agreement; 

 

	 	13.2.2.	Any bodily injury (including death) or moral prejudice sustained by a person and/or any damages or material losses in connection with the Product resulting from gross
negligence on the part of BioAmber. 

  

	 	13.2.3.	The provisions of the above subsections 13.1.3 to 13.1.5 shall apply to this section 13.2, mutatis mutandis. 

 

	 	14.	RECALL OF THE PRODUCT 

  

	 	14.1	In the event of a recall of the Product initiated by BioAmber, whether voluntarily or because of an order from competent authorities, BioAmber shall be solely
responsible for the organization, execution and costs of the recall unless ARD’s gross negligence is demonstrated, in which case ARD shall be solely responsible for the organization, execution and costs of the recall. In case of a shared
responsibility so declared by an expert, such responsibility shall be borne by each party in its relevant proportion. 

  

	 	15.	INSPECTION, RECORDS, AUDIT AND REPORTS 

  

	 	15.1	BioAmber, its representatives or agents shall have the right to access at all time the installations of ARD in relation to the manufacturing of the Product to make sure
that the Product is manufactured according to the terms and conditions of this Agreement. Samples can be taken from time to time for the purpose of laboratory evaluation independently of the Demonstration Plant and ARD analytical labs. Such
independent analyses will be paid solely by BioAmber, subject to the provisions of Section 9.1. 

  

	 	15.2.	ARD will keep records for at least five (5) years showing the Product manufactured pursuant to this Agreement and more generally, in sufficient detail to allow
BioAmber to audit the compliance of ARD’s obligations under the terms of this Agreement. ARD will permit BioAmber, its representatives or agents to obtain a copy of such records. 

  
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	 	15.3.	Twice per calendar year until the term of this Agreement is reached, including Renewal Options, or until termination of this Agreement, BioAmber shall have the right,
upon ten (10) days’ notice to ARD, to audit during regular business hours, those records deemed by the auditor to be reasonably necessary to audit the compliance by ARD of its obligations provided in this Agreement If any such audit
reveals that ARD has not complied with its obligations provided in this Agreement and/or that BioAmber has overpaid any amount contemplated hereunder, then, without limiting any other rights BioAmber may have, subject to the limitations provided in
this Agreement, ARD shall immediately (i) reimburse BioAmber’s reasonable expenses incurred in conducting the audit, and (ii) promptly reimburse BioAmber with respect to any such overpaid amount. 

 

	 	15.4.	ARD hereby undertakes to provide BioAmber, on a weekly basis, with a production report containing all relevant information reasonably requested by BioAmber with respect
to the activities performed in the Demonstration Plant during the preceding week, it being understood that the content of such report will be agreed upon between the Parties on an ongoing basis. 

 

	 	16.	TERM 

  

	 	16.1	This Agreement shall enter into force as of the Effective Date and shall remain in effect until June 30, 2013, unless earlier terminated in accordance with other
provisions of this Agreement or unless prorogated by the parties or renewed pursuant to the terms of Section 16.2. 

  

	 	16.2	 This Agreement shall be renewable, at the option of Bioamber, for three (3) successive periods of six (6) months (each, a “Renewal
Option”), being from July 1st, 2013 until
December 31st, 2013, from January 1st, 2014 until June 30th, 2014, from July 1st, 2014 until December 31st, 2014, (each, a “Renewed Term”).

 In order to exercise a Renewal Option, BioAmber shall notify ARD accordingly, in writing, at the latest on
February 15, 2013 for the first Renewal Option and at least six (6) months prior to the beginning of the applicable Renewed Term for any subsequent Renewal Options. 
 Prior to the beginning of each Renewed Term, BioAmber will determine the portion of such Renewed Term during which BioAmber will have the exclusive use of the Demonstration Plant (60% of the total
production capacity of the Demonstration Plant), subject to the provisions of Section 1.2, and will notify ARD of same, it being understood that each period reserved by BioAmber will be for at least four weeks, provided that the minimum time
between two separate periods reserved to BioAmber shall be three weeks. For the sake of clarity, during 

  
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each Renewed Term, ARD will be free to use the remaining periods corresponding to 40% of the total production capacity of the Demonstration Plant for any other activities, subject to the
Confidentiality and Non-Competition Agreement entered into with BioAmber. 
 The other terms and conditions applicable during
each Renewed Term shall be identical to those applicable during the initial term of this Agreement, except for the following: 
  

	 	(i)	 During the first Renewed Term (being from July 1st, 2013 until December 31st, 2013), BioAmber shall have the benefit of 60% of the total production capacity of the Demonstration Plant, shall
therefore not pay more than 60% of the labor costs associated with the operation of the Demonstration Plant during such period, and shall pay ARD the sum of [***] for 50% of the depreciation related to its use of the Demonstration Plant, payable in
equal monthly instalments. BioAmber shall also pay ARD for maintenance costs related to the proportion of BioAmber’s use of the plant. A tolling fee of [***] will be applied to the sum of the depreciation fees and maintenance fees invoiced to
BioAmber; 

  

	 	(ii)	During each of the two subsequent Renewed Terms, BioAmber shall have the benefit of 60% of the total production capacity of the Demonstration Plant, shall therefore not
pay more than 60% of the labor costs associated with the operation of the Demonstration Plant during such periods, and shall pay ARD the sum of [***] for 100% of the depreciation related to its use of the Demonstration Plant. BioAmber shall also pay
ARD for maintenance costs related to the proportion of BioAmber’s use of the plant, payable in equal monthly installments. A tolling fee of [***] will be applied to the sum of the depreciation fees and maintenance fees invoiced to BioAmber.

  

	 	17.	TERMINATION 

  

	 	17.1	This Agreement may be terminated as provided below, upon the occurrence of any of the following events: 

 

	 	17.1.1	 If the cumulative levels of the usage factors required for the production of crystalline succinic acid remain higher, after June 30th, 2011, than the Target Usage Factors listed in Schedule Y upon
execution by the Parties, BioAmber may solely terminate this Agreement without damages by giving written notice to this effect to ARD. 

  

	 	17.1.2	If a party to this Agreement becomes insolvent, assigns its assets to its creditors, initiates a liquidation of its assets, files for bankruptcy or if a petition for
bankruptcy is filed against it, the other party may immediately terminate this Agreement. 

  
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	 	17.1.3	ARD, BioAmber and BioAmber US hereby agree that ARD shall be entitled to terminate, immediately and without damages, this Agreement in case the validity, patentability,
enforceability and/or non-infringement of the IP which is licensed by BioAmber and/or BioAmber US to ARD to perform this Agreement, is challenged by a third party non-affiliated with ARD or any of its Affiliates and that a final judgment is issued
by a court confirming such third party’s allegation of infringement. 

 BioAmber US, BioAmber and their
Affiliates hereby agree to hold harmless and indemnify ARD, ARD’s direct and indirect subsidiaries, affiliated entities and corporations, against any and all damages, liabilities, losses, costs and expenses (including attorneys’ fees
and expenses), arising out of any above mentioned challenge of the IP which is licensed by BioAmber and/or BioAmber US to ARD to enable ARD to perform this Agreement. 

 

	 	17.1.4	If a party infringes or fails to respect any of the terms, clauses, conditions or stipulations of this Agreement, the other party may terminate this Agreement by giving
written notice of such default and provided that such default has not been cured within thirty (30) days from receipt of the notice. 

  

	 	18.	OBLIGATION OF THE PARTIES AT THE TERMINATION OF THE AGREEMENT 

 Following the termination of this Agreement: 
  

	 	18.1	ARD shall finish in an expeditious manner any Purchase Order in which the manufacturing, processing and/or packaging of the Product has begun. After completion of any
such order, ARD will stop all such manufacture, processing and/or packaging of the Product. 

  

	 	18.2.	BioAmber will pay to ARD all Purchase Orders that have been completed and delivered to BioAmber or its customers, under reserve of the rights of BioAmber as provided
for in Section 9.1. 

  

	 	18.3.	ARD will immediately deliver to BioAmber, at the latter’s cost, all the QC Release Product in inventory, any in process materials related to the Product and all
BioAmber Packing Materials. 

  

	 	19.	INSURANCE 

  

	 	19.1	ARD and BioAmber shall, and shall cause their respective Affiliates to, have and maintain such type and amounts of liability insurance covering the performance of this
Agreement as it is normal and customary in this industry generally for parties similarly situated, and shall upon request provide the other Party with a coverage certificate in that regard, along with any amendments and revisions thereto.

  
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	 	20.	RESEARCH AND DEVELOPMENT / INTELLECTUAL PROPERTY 

  

	 	20.1	ARD acknowledges that all work, receipts, specifications, lists of ingredients, reports, documents, improvements or other original works relating directly or indirectly
to the BioAmber Technology and the Products, as well as all intellectual property rights and trade secrets related to the BioAmber Technology and the Products, are the exclusive property of BioAmber. ARD agrees expressly to abstain from claiming
rights with regards to the intellectual property, including, but not limited to, moral rights whenever applicable, and to abstain from using such property, including, but not limited to, all trade secrets, process improvements and process
modifications developed by either party over the term of this Agreement, without written authorization from BioAmber. 

  

	 	20.2.	ARD acknowledges and agrees that BioAmber shall be the owner of all improvements, modifications and applications to and of the BioAmber Technology and the Products
developed by ARD (the “ARD Improvements”) only to the extent that they relate to succinic acid, including, but not limited to the right to file any patent on such ARD Improvements. During the term of this Agreement, ARD shall be
granted a non-exclusive, worldwide royalty-free license to all ARD Improvements, solely for the purposes of this Agreement, and ARD shall be granted a non-exclusive, worldwide royalty free license to any and all ARD Improvements outside the field of
succinic acid. ARD shall provide to BioAmber a written notice of all ARD Improvements, in such detail as BioAmber may reasonably request. Upon termination or expiration of this Agreement, the license granted to ARD pursuant to this Section 20.2
shall terminate immediately. 

  

	 	20.3.	Undertakings and covenants of BioAmber with respect to any intellectual property rights required for the performance of this Agreement granted under this Agreement.

 20.3.1. BioAmber and BioAmber US or any of the successors of their business shall grant to ARD a non-exclusive,
worldwide, free license to any intellectual property rights (“IP”) required for ARD to perform this Agreement. 

20.3.2. Warranties: 
 Subject to sections below, BIOAMBER AGREES TO DEFEND, INDEMNIFY AND HOLD ARD HARMLESS FROM AND AGAINST ANY AND ALL OUT-OF-POCKET COSTS, DAMAGES AND LOSSES (INCLUDING WITHOUT LIMITATION REASONABLE
ATTORNEY’S FEES AND COSTS) ARISING OUT OF OR RESULTING FROM THIRD PARTY CLAIMS BASED ON ALLEGED INFRINGMENT OF ANY OF THE BIOAMBER’S INTELLECTUAL PROPERTY LICENSED TO ARD PURSUANT TO SECTION 20.3.1 HEREOF INCLUDING THE CONSEQUENCES
TRIGERRED BY THE CONSEQUENT TERMINATION OF THE AGREEMENT. 

  
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 SPECIAL DAMAGES. EXCEPT IN CIRCUMSTANCES OF GROSS NEGLIGENCE OR INTENTIONAL MISCONDUCT BY A
PARTY OR ITS AFFILIATES , NEITHER PARTY SHALL BE RESPONSIBLE TO THE OTHER FOR SPECIAL, INCIDENTAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES THAT MAY BE INCURRED PURSUANT TO THIS AGREEMENT OR PERFORMANCE HEREUNDER. 

HEALTH AND SAFETY. BIOAMBER WARRANTS OR GUARANTEES THAT THE EXERCISE OF THE RIGHTS GRANTED PURSUANT TO THIS AGREEMENT AND THE USE OF ANY
PRODUCTS MADE PURSUANT TO THE PRACTICE OF SUCH RIGHTS WILL NOT RESULT IN SAFETY OR HEALTH HAZARDS TO WORKERS, THE ENVIRONMENT, OR TO PURCHASERS OF SUCH PRODUCTS. 
 INDEMNIFICATION BY BIOAMBER. SUBJECT TO ARD LIABILITY AS MANUFACTURER ON BEHALF OF BIOAMBER AND UNDER BIOAMBER INSTRUCTIONS, BIOAMBER HAS SOLE DISCRETION AND RESPONSIBILITY FOR ITS DESIGN, MAKING,
MANUFACTURE, AND SALE OF PRODUCTS PURSUANT TO THIS AGREEMENT. ACCORDINGLY, TO THE EXTENT PERMITTED BY THE LAW OF FRANCE, OR ANY OTHER LAW APPLICABLE, BIOAMBER SHALL INDEMNIFY, DEFEND, AND HOLD ARD AND ITS AFFILATES HARMLESS FROM AND AGAINST ANY AND
ALL CLAIMS, SUITS, OBLIGATIONS, CAUSES OF ACTION, LIABILITY, COSTS AND DAMAGES (INCLUDING, WITHOUT LIMITATION, ALL CLAIMS, AWARDS FOR DAMAGES, ATTORNEY FEES, COURT COSTS, INTEREST, PENALTIES, ETC), INJURIES TO PERSONS (INCLUDING DEATH) OR PROPERTY
(INCLUDING, WITHOUT LIMITATION, LOSS OF USE), PRODUCT LIABILITY CLAIMS, CLAIMS FOR IP INFRINGEMENT AND CLAIMS FOR DAMAGE TO THE ENVIRONMENT (COLLECTIVELY, “LIABILITIES”), WHATEVER THE CAUSE MAY BE, BASED UPON, ARISING OUT OF, OR RELATED TO
THE ACTS OR OMISSIONS OF BIOAMBER AND ITS AFFILIATES AND/OR ANY OF THEIR EMPLOYEES, OFFICERS, EMPLOYEES, AND CONSULTANTS, SUBLICENSEES OR OTHER PERSONS ACTING ON THEIR BEHALF OR UNDER THEIR CONTROL, IN CONNECTION WITH BIOAMBER’S EXECUTION,
DELIVERY AND PERFORMANCE OF, OR FAILURE TO PERFORM, THIS AGREEMENT, EXCLUDING LIABILITIES ARISING OUT OF THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF ARD, SUCH LIABILITIES HAVING BEEN OR NOT ESTABLISHED IN A COURT OF LAW AS HAVING BEEN CAUSED
SOLELY AND DIRECTLY BY THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT ON THE PART OF ARD. 

  
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 INDEMNIFICATION BY ARD. TO THE EXTENT PERMITTED BY THE LAW OF FRANCE, OR ANY OTHER LAW
APPLICABLE, AND TO THE EXTENT THE FOLLOWING PROVISIONS ARE NOT CONTRADICTORY TO THE PROVISIONS OF SECTIONS 13.1 OF THIS AGREEMENT, ARD SHALL INDEMNIFY, DEFEND, AND HOLD BIOAMBER AND ITS AFFILATES HARMLESS FROM AND AGAINST ANY AND ALL CLAIMS, SUITS,
OBLIGATIONS, CAUSES OF ACTION, LIABILITY, COSTS AND DAMAGES (INCLUDING, WITHOUT LIMITATION, ALL CLAIMS, AWARDS FOR DAMAGES, ATTORNEY FEES, COURT COSTS, INTEREST, PENALTIES, ETC), INJURIES TO PERSONS (INCLUDING DEATH) OR PROPERTY (INCLUDING, WITHOUT
LIMITATION, LOSS OF USE), AND CLAIMS FOR DAMAGE TO THE ENVIRONMENT (COLLECTIVELY, “LIABILITIES”), WHATEVER THE CAUSE MAY BE, BASED UPON, ARISING OUT OF, OR RELATED TO THE ACTS OR OMISSIONS OF ARD AND ITS AFFILIATES AND/OR ANY OF THEIR
EMPLOYEES, OFFICERS, EMPLOYEES, AND CONSULTANTS, SUBLICENSEES OR OTHER PERSONS ACTING ON THEIR BEHALF OR UNDER THEIR CONTROL, IN CONNECTION WITH ARD’S EXECUTION, DELIVERY AND PERFORMANCE OF, OR FAILURE TO PERFORM, THIS AGREEMENT, NAMELY IN
CONNECTION WITH ARD’S MANUFACTURE OF PRODUCTS PURSUANT TO THE TERMS OF THIS AGREEMENT, EXCLUDING LIABILITIES ARISING OUT OF THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF BIOAMBER, SUCH LIABILITIES HAVING BEEN OR NOT ESTABLISHED IN A COURT OF
LAW AS HAVING BEEN CAUSED SOLELY AND DIRECTLY BY THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT ON THE PART OF BIOAMBER. 
  

	 	21.	CONFIDENTIALITY 

  

	 	21.1	 The parties hereby agree to treat the transactions contemplated hereby and all information received in connection therewith in the strictest confidence
and more particularly, ARD hereby agrees to comply will all provisions of the Confidentiality and Non-competition Agreement signed by ARD and effective as of July 1st, 2010, and BioAmber US hereby agrees to comply will all provisions of the Confidentiality Agreement signed by BioAmber
US and effective as of July 1st, 2010.

  

	 	22.	GENERAL PROVISIONS 

  

	 	22.1	 Entire Agreement. This Agreement, together with its schedules T, U, V, W, X, Y and Z, constitutes the entire agreement between the parties
hereto with respect to the subject matter hereof and cancels and supersedes any prior understanding or agreement between the parties hereto with respect to the subject matter hereof, including the Initial Toll Manufacturing Agreement which shall be
replaced and superseded by this Agreement from and after December 1st, 2011. 

  
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	 	22.2	Further Assurances. Each party shall at any time and from time to time, upon the request of the other party(ies), execute and deliver such further
documents and do such further acts and things as the other party(ies) may reasonably request to evidence, carry out and give full effect to the terms, conditions, intent and meaning of this Agreement. 

 

	 	22.3	Headings. The section and paragraph headings contained in this Agreement are for the purposes of convenience only and are not intended to define or limit the
content of any section or paragraph. 

  

	 	22.4	Notice. Any notice pursuant to this Agreement shall be in writing and shall be deemed given (a) if by hand delivery, upon receipt thereof, (b) if by
facsimile transmission, upon electronic confirmation thereof, (c) if by electronic mail, upon receipt of confirmation electronic mail message, if promptly followed by a confirmation copy registered mail, return receipt requested, or (d) if
by internationally recognized courier delivery service (such as Federal Express), upon such delivery. All notices shall be addressed (or such other address as either Party may in the future specify in writing to the other) to each concerned party at
the addresses mentioned below: 

  

	 	22.4.1	for ARD: 

 Mr. Yvon Le
Henaff, Directeur Général 
 Agro Industrie Recherches et Développements, S.A. 

Route de Bazancourt 
 F-51110, Pomacle, France 
 E-Mail: [***] 

Fax: (33).3.26.05.42.89 
 With a copy to: 
 Mr. Xavier DONNENFELD 

Service Juridique 
 2, Rue Clément Ader 
 51100, Reims 

E-Mail: [***] 

Fax: 0033(0) 326 78 64 15 
  

	 	22.4.2	for BioAmber: 

Mr. Jean-François Huc, President 
 BioAmber S.A.S. 
 1250 Rene-Levesque West, Suite 4110 

Montreal, Quebec, Canada 
 H3B 4W8 
 E-Mail: [***] 

Fax: (514) 844-1414 

  
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 With a copy to: 
 Mr. Thomas Desbiens 
 Boivin Desbiens Senécal, g.p. 

2000, McGill College Avenue, Suite 2000 
 Montreal, Quebec, Canada 
 H3A 3H3 

E-Mail: [***] 

Fax: (514) 844-5836 
  

	 	22.5	Assignment. ARD and BioAmber may assign their rights or their obligations in this Agreement without the prior written consent of BioAmber or ARD, as applicable,
provided that (a) ARD or BioAmber is in position to evidence in a satisfactory manner to ARD or BioAmber, as applicable, that (i) the beneficiary of the rights and obligations has the financial capacity to fully comply with all the terms
of this Agreement as they apply to ARD, (ii) the beneficiary is not a, direct or indirect, competitor of ARD or of BioAmber and that (iii) the third party shall be bound by all the conditions, covenants and warranties of the Agreement and
(b) ARD is in position to evidence in a satisfactory manner to BioAmber that the beneficiary of the rights and obligations has the ability to produce the Products and comply with the terms of this agreement. 

 

	 	22.6	Schedule and Preliminary Statements. The schedules attached hereto and the Preliminary Statements are hereby fully incorporated herein by this reference.

  

	 	22.7	Amendment. No modification of or amendment to this Agreement shall be valid or binding unless set forth in writing and duly executed by all parties
hereto. 

  

	 	22.8	Costs and Expenses. Each party shall bear its own costs and expenses in connection with the negotiation of this Agreement and the transactions
contemplated by this Agreement. 

  

	 	22.9	Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of France. Any disputes arising out of, relating to, or in
connection with this Agreement, including notably any question regarding its existence, validity, interpretation, performance, non-performance or termination, shall be referred to a mediation administered by the Center for Mediation and
Arbitration of Paris (CMAP). In case of failure to reach an agreement in the framework of this mediation, each party will be free to bring an action before the courts of France, in the district of Paris, which shall have exclusive jurisdiction.

  

	 	22.10	 Publicity. Press Releases, Disclosures and Public Announcements. Each party hereby undertakes not to issue any press release or other publicity
materials, or 

  
 25 

* Confidential Treatment Requested 

	 	
make any public presentation with respect to the terms or conditions of this Agreement without the prior written consent of the other parties (such consent not to be unreasonably withheld or
delayed). 

  

	 	22.11	Specific Performance. The parties hereof acknowledge that monetary damages may not be an adequate remedy for violations of this Agreement and that any party may,
in its sole discretion, in a court of competent jurisdiction, apply for specific performance or injunctive or other relief as the court may deem just and proper in order to enforce this Agreement or to prevent violation hereof. To the extent
permitted by applicable law, each party waives any objection to the imposition of such relief. 

  

	 	22.12	Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an
original, but all such counterparts shall together constitute one in the same instrument. This Agreement and all other agreements, certificates, documents and instruments furnished in connection herewith or therewith may be delivered by means of an
exchange of executed documents by facsimile or as an attachment in “pdf” or similar format to an electronic mail message. 

  

	 	22.13	Extraordinary Provisions. Given that this Agreement is signed as of the Signature Date, but with an effective date as of the Effective Date, the parties hereby
agree to the following with respect to certain matters having occurred since the Effective Date: 

  

	 	22.13.1	BioAmber will pay to ARD, within five (5) business days following the Signature Date, any outstanding amount due by BioAmber to ARD (based on the terms provided in
this Agreement) in connection with any invoices for any Successfully Produced Products produced by ARD since the Effective Date, which have been specifically QC Released by e-mail or in writing by BioAmber ; BioAmber will proceed with the purchase,
within five (5) business days following the Signature Date, of the batches #120909, 120910, 120911, 120912, 120913, 120914, 120915, 121001, 121003, 121004, 121005 (corresponding to Technical Grade Products), and will pay ARD the amounts due in
connection with such Products according to the terms of this Agreement, it being understood that such batches are accepted by BioAmber and thus QC Released, and therefore, BioAmber will take possession of such batches according to the terms of this
Agreement; 

  

	 	22.13.2	BioAmber will pay to ARD, within five (5) business days following the Signature Date, any outstanding amount due by BioAmber to ARD in connection with
Section 7.1.7 (labor costs) not already paid, except that the total amount due by BioAmber to ARD pursuant to such Section 7.1.7 until the Signature Date shall be reduced by an amount equal to fifty percent (50%) of all labor costs
incurred by ARD pursuant to Section 7.1.7 of this Agreement for the period between October [1], 2012 and December [1], 2012; 

  
 26 

* Confidential Treatment Requested 

	 	22.13.3	ARD will reprocess, at its costs, as soon as reasonably possible following the Signature Date, any Products having been manufactured by ARD since the Effective Date,
which have not been QC Released at least due to the fact that the level of [***] contained therein was higher than the maximum level provided in the Product Specifications (being all batches produced since the Effective Date, other than the batches
referred to in Section 22.13.1 and 22.13.4), and once reprocessed, ARD will submit to BioAmber samples of such Products and the provisions contained in Section 9 and 11 related to the analysis and release of such reprocessed Products will
apply accordingly as if such Products were ordered by BioAmber pursuant to a Purchase Order accepted by ARD (the 15 business days period will begin at the date of receipt by BioAmber of the samples of such reprocessed Products); once and if QC
Released, BioAmber will pay to ARD the purchase price applicable to Technical Grade Products for such Products as provided in Section 7 of this Agreement; 

 

	 	22.13.4	 ARD will send to BioAmber, as soon as reasonably possible following the Signature Date, samples of any Products having been manufactured by ARD since
the Effective Date, which have not been QC Released but not due to the fact that the level of [***] contained therein was higher than the maximum level provided in the Product Specification (being batches #120603, 120904 and 120908), and BioAmber
will reanalyze such Products by using the analytical methods provided in Schedule U attached hereto; the provisions contained in Section 9 and 11 related to the analysis and release of Products will apply to such reanalyzed Products as if such
Products were ordered by BioAmber pursuant to a Purchase Order accepted by ARD (the 15 business days period will begin at the date of receipt by BioAmber of the new samples of such Products), it being understood that specifically for such three
(3) batches, the value of the acceptable level of [***] will be adjusted to take into account the variation between the analytical methods attached hereto as Schedule U and those that were used in connection with the determination of the
Product Specifications; for clarity, if any such reanalyzed Products do not meet the Product Specifications following the reanalyze performed by BioAmber, ARD will reprocess, at its costs, as soon as reasonably possible, any such Products that
failed to meet the Product Specifications, and ARD will re-submit to BioAmber samples of such Products after such reprocessing and the provisions contained in Section 9 and 11 related to the analysis and release of such reprocessed Products
will apply accordingly as if such Products were ordered by BioAmber pursuant to a Purchase Order accepted by ARD (the 15 business days period will 

  
 27 

* Confidential Treatment Requested 

	 	
begin at the date of receipt by BioAmber of the samples of such reprocessed Products); once and if QC Released, BioAmber will pay to ARD the purchase price applicable to Technical Grade Products
for such Products as provided in Section 7 of this Agreement; 

  

	 	22.13.5	BioAmber undertakes to issue Purchase Orders, for a quantity of at least [***] MT but not more than [***] MT of Technical Grade Products (excluding the Products
described in Sections 22.13.1, 22.13.3 and 22.13.4), as soon as possible following the Signature Date, but in any event BioAmber will issue such Purchase Orders in order to allow ARD to be reasonably able to complete the manufacture of such Products
by no later than June 30, 2013, and ARD hereby agrees to accept such Purchase Orders provided they are in conformity with this Agreement; however, in the event that ARD is not able to complete the manufacture of such Products at the latest on
June 30, 2013, and that this Agreement is not renewed by BioAmber pursuant to the first Renewal Option, then ARD undertakes to complete the manufacture of such Products, until they are QC Released, even if the Agreement is terminated;

  

	 	22.13.6	BioAmber and ARD hereby agree that the purchase price to be paid by BioAmber to ARD in connection with the Products to be ordered pursuant to Section 22.13.5
([***] MT of Technical Grade Products) shall be reduced, in the aggregate, by an amount equal to [***], which special discount shall be equally applied to Successfully Produced Products resulting for such orders; 

 

	 	22.13.7	For any Products to be ordered by BioAmber from and after the Signature Date (including the products to be ordered pursuant to Section 22.13.5, but excluding, for
clarity, any Products referred to in Sections 22.13.1, 22.13.3 and 22.13.4), BioAmber will pay an additional fee to ARD corresponding to the cost incurred by ARD for [***] in connection with the manufacture of such Product, it being understood that
such additional fee shall be [***] of Product and shall be adjusted in good faith by the parties according to the actual cost resulting from such [***]; 

  

	 	22.13.8	The parties may reasonably adjust the [***] limits provided in the Product Specifications based on the results of the analysis made with the analytical methods
described in Schedule U attached hereto compared to the analytical methods that were used in connection with the determination of the Product Specifications. 

  
 28 

* Confidential Treatment Requested 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed as of
the date mentioned in the preamble of this Agreement. 
  

			
	AGRO INDUSTRIE RECHERCHES ET DÉVELOPPEMENTS S.A.
	
	 /s/ Yvon Le Henaff

	By:	 	Yvon Le Henaff
	Title:	 	Directeur Général
	
	BIOAMBER S.A.S.
	
	 /s/ Jean-François Huc

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

	By:	 	Jean-François Huc
	Title:	 	President

  
 29 

* Confidential Treatment Requested 

 SCHEDULE T 
 PACKAGING SPECIFICATIONS 
 See attached documents 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	
		
	Big-Bag # :	  	
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-827-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 30 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	2
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	 

  
	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
		  		 	
		  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-827-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 31 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	3
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-827-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 32 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	4
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	XI	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
		  		 	
		  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 33 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	5
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 34 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	6
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 35 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	7
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 36 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	8
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	XI	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 37 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	9
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 38 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	10
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 39 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	 11

		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	XI	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 40 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	12
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 41 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	13
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 42 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	14
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 43 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	15
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 44 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	16
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-827-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 45 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	Batch # :	  	120601
		
	Big-Bag # :	  	17
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	 

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	 IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several
 minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily. Continue rinsing.

	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 46 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	18
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	 

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	 P305+P351+P338 
	 	 IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several

minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily. Continue rinsing.

	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-300-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 47 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	120601
		
	Big-Bag # :	  	19
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 48 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

			
	 Batch # :
	  	
		
	Big-Bag # :	  	
		
	Net Weight :	  	             kg

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	Xi	 	Irritant
	  	R41	 	Risk of serious damage to the eyes
	  	H318	 	Can cause serious damage to the eyes
	  	P280	 	Wear protective gloves / protective clothing / protective equipment for eyes and face.
	  	P305+P351+P338 	 	IN CASE OF CONTACT WITH THE EYES: rinse carefully with water for several minutes. Remove contact lenses if the victime is wearing them and if they can be removed easily.
Continue rinsing.
	  	P310	 	Call a POISON CENTRE or doctor immediately.
	  		 	
	  		 	
		  	  
 For Hazardous Materials [or Dangerous Goods]
incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night
 Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-527-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 49 

* Confidential Treatment Requested 

 

 
 Bio-Based Succinic Acid 

 

					
	 Batch # :
	  		  	

	Big-Bag # :	  	FINE & REFUS	  
	Net Weight :	  	             kg	  
		  		  
		  		  
		  		  

 Storage: in unopened original packaging in a dry place 
 Shelf-life: one year after production date if stored in unopened packaging in dry place 
  

					
	

	  	H318	 	Can cause serious damage to the eyes.
	  	  
 P280
	 	  
 Wear protective gloves/protective clothing/protective equipment
for eyes and face.

	  	  
 P305 + P351
	 	  
 + P338 IN CASE OF CONTACT WITH THE EYES: Rinse carefully with
water for several minutes. Remove contact lenses if the victim is wearing them and if they can be removed easily. Continue rinsing.

	  	  
 P310
	 	  
 Call a POISON CENTRE or doctor
immediately

	  		 	
	  		 	
		  	 For Hazardous Materials [or Dangerous Goods) incidents
 Spill, Leak, Fire, Exposure, or Accident
 Call CHEMTREC Day or Night

Within USA and Canada: 1-800-424-9300

Outside USA and Canada: +1 703-627-3887 (collect calls accepted)
 France: + 33 (9) 75 18 14 07
 Orfila: +33
(0) 1-4542-5959

 BioAmber S.A.S. 

Route de Pomacle 
 51110 BAZANCOURT 

France 
 Tel: +33 (0)3 26 89 48 90 

  
 50 

* Confidential Treatment Requested 

 SCHEDULE U 
 ANALYTICAL METHODS AND EQUIPMENT 
  

	 	l.	The metals results were determined utilizing [***] 

  

	 	2.	The mercury results were determined utilizing [***] 

  

	 	3.	The succinic acid assay and residue on ignition were determined per [***] 

  

	 	4.	Glucose is currently run through [***] 

 [***] 
 BioAmber has received similar equipment and will be setting up to run this
assay internally by a similar validated method. 
  

	 	5.	UV-Vis – SUC-108-99 

  

	 	6.	Moisture – SUC-115-99 

  

	 	7.	pH – SUC-105-99 

  

	 	8.	Melting Point – SUC-104-99 

  

	 	9.	Lactic Acid – SUC-122-02 

  

	 	10.	Acetic and Fumaric Acid – SUC-123-02 

  

	 	11.	Total Nitrogen – SUC-117-99 

  

	 	12.	Sulfate – [***] 

  

	 	13.	Total Chloride - [***] 

  

	 	14.	Phosphate – SUC-114-99 

  
 51 

* Confidential Treatment Requested 

 SCHEDULE V 
 STANDARD OPERATING PROCEDURES AND MASTER BATCH RECORDS 
  

							
	Référence	 	Révision	 	Titro	 	Miso an appli
	[*** 2
pages omitted]

  
 52 

* Confidential Treatment Requested 

 SCHEDULE W 
 PRODUCT SPECIFICATIONS 
 BIOAMBERPRODUCTSPECIFICATION 

 

					
	 	  	 TechnicalGrade
	  	 PolymerGrade

			
	 Titration
	  	[***]	  	[***]
	 Moisture
	  		  	
	 MeltingPoint
	  		  	
	 pH
	  		  	
	 Color (Visual Test)
	  		  	
	 Odor
	  		  	
	 Black specks
	  		  	
			
	 ResidueonIgnition
	  		  	
	 Lead(Pb)Arsenic
	  		  	
	 Iron
	  		  	
			
	 Cadmium
	  		  	
	 Mercury
	  		  	
			
	 Bio-carbon
	  		  	
			
	 Lactic
	  		  	
	 Acetic
	  		  	
	 Fumaric
	  		  	
			
	 Glucose
	  		  	
	 TotalNitrogen
	  		  	
	 Sulfate
	  		  	
	 Phosphate
	  		  	
	 TotalChloride
	  		  	
			
	 UV270abs
	  		  	

  
 53 

* Confidential Treatment Requested 

 SCHEDULE X 
 PROCESS DIAGRAM TG 
  

							
	 ARD
	 	 Bio Demo
	 	 Process Diagram TG
	 	 BioAmber

		 		 		 	
		 		 		 	
		 		 		 	

 [*** 3 pages omitted] 

  
 54 

* Confidential Treatment Requested 

 SCHEDULE Y 
 TARGET USAGE FACTORS 
  
 

 
 [***] 
 The parties recognize that the costs as indicated in the above chart are only for information purpose as their amount will fluctuate, subject to the terms of the Agreement. 

The parties agree that any purchase by ARD of any of the following Ingredients will be made according to the following parameters: 

 

	(i)	any purchase of steam will be made by ARD according to the formula attached hereto as schedule Y.2; 

 

	(ii)	any purchase of glucose from the Chamtor Group or any of its associated entities will have to be made according to terms and conditions negotiated and agreed to by
BioAmber, and in the event that BioAmber does not agree with such terms and conditions, BioAmber may request ARD to purchase glucose from any other supplier designated by BioAmber from time to time; 

 

	(iii)	any cost associated with wasted water and the purchase of compressed air, reverse osmosis water, sulphuric acid and ammonia will have to be according to the terms and
conditions of the agreements in effect from time to time between ARD and the Chamtor Group, a copy of which will be provided to BioAmber. 

  
 55 

* Confidential Treatment Requested 

 Schedule Y.2 
 DETERMINATION OF THE COST OF STEAM 
  

					
	Basis of calculation	  	Example	  	
	[***]	  	[***]	  	

  
 56 

* Confidential Treatment Requested 

 SCHEDULE Z 
 LABOR COSTS 
  

									
	 	  	Base salary	  	Benefits	  	Social security	  	Total
	 	  	Annual	  	 	  	Annual	  	 
	 Plant manager
	  		  		  		  	
	 Technical supervisor
	  		  		  		  	
	 Production manager 1
	  		  		  		  	
	 Production manager 2
	  		  		  		  	
	 Team manager 1
	  		  		  		  	
	 Team manager 2
	  		  		  		  	
	 Team manager 3
	  		  		  		  	
	 Team manager 4
	  		  		  		  	
	 Team manager 5
	  		  		  		  	
	 Tech 1
	  	[***]
	 Tech 2
	  		  		  		  	
	 Tech 3
	  		  		  		  	
	 Tech 4
	  		  		  		  	
	 Tech 5
	  		  		  		  	
	 Tech 6
	  		  		  		  	
	 Tech 7
	  		  		  		  	
	 Tech 8
	  		  		  		  	
	 Tech 9
	  		  		  		  	
	 Tech 10
	  		  		  		  	
	 Analytical tech
	  		  		  		  	

  
 57 

* Confidential Treatment RequestedEX-10.37

 Exhibit 10.37 
 *** Text Omitted and Filed Separately 
 Confidential Treatment Requested

 Under 17 C.F.R. §§ 200.80(b)(4) 
 and 203.406 
 TECHNOLOGY LICENSE AGREEMENT 

This Agreement (the “Agreement”), made and effective as of the Effective Date, by and between Celexion, LLC, a Delaware limited
liability company having its principal place of business at One Memorial Drive, Suite 7, Cambridge, MA 02142 (hereinafter referred to as “Celexion” or “Licensor”) and DNP Green Technology, Inc., a Delaware corporation having its
principal place of business at 1250 Rene-Levesque West, Suite 4110, Montreal, QC, Canada, H3B 4W8 (hereinafter referred to as “DNP Green” or “Licensee”). 
 Celexion and DNP Green shall also hereinafter be referred to individually as “Party” and collectively as “Parties”. 

RECITALS 
 WHEREAS, Celexion has filed two (2) patent applications listed in Schedule A attached hereto that describe novel metabolic pathways to producing a platform of 6-carbon chemicals (the “Celexion Patent
Applications”); 
 WHEREAS, DNP Green desires to obtain an exclusive license to use the Celexion Patent Applications and
other related rights according to the terms hereof, and Celexion is willing to grant such license and rights to DNP Green. 

NOW, THEREFORE, in consideration of these premises and the rights and obligations specified herein, Celexion and DNP Green agree as
follows: 
 ARTICLE I DEFINITIONS 
  

	1.1	“Affiliate” means any corporation, firm, limited liability company, partnership or other entity that directly or indirectly controls or is controlled
by or is under common control with a Party to this Agreement. For the purpose of this definition, control means ownership, directly or through one or more Affiliates, of fifty percent (50%) (or such lesser percentage which is the maximum
allowed to be owned by a foreign entity in a particular jurisdiction) or more of the shares of stock entitled to vote for the election of directors in the case of a corporation, or fifty percent (50%) (or such lesser percentage which is the
maximum allowed to be owned by a foreign entity in a particular jurisdiction) or more of the equity interests in the case of any other type of legal entity, or status as a general partner in any partnership, or any other arrangement whereby a Party
controls or has the right to control the board of directors or equivalent governing body of a corporation or other entity. 

  

	1.2	“Celexion Patent Rights” means (a) the Celexion Patent Applications and patent applications later filed on Work Plan Intellectual Property owned by
Celexion, (b) any substitutions, divisions, continuations, continuations-in-part thereof,(c) any patents issuing therefrom, (d) any reissues, renewals, re-examinations, extensions, supplementary protection certificates and the like of any
such patents or patent applications, and (e) counterparts of any of the foregoing in any other jurisdiction. 

  

					
	 Celexion and DNP
	 	1	  	Confidential

 * Confidential
treatment requested 

	1.3	“Confidential Information” means technical and business information owned or controlled by either Party (the “Disclosing Party”) that is
designated in writing to be Confidential (or a similar legend) and disclosed to the other Party (the “Receiving Party”); or, if disclosed orally or visually, such technical and business information that (i) is identified as
constituting Confidential Information at the time of disclosure, and (ii) a summary thereof is confirmed in writing by the Disclosing Party to be Confidential Information within thirty (30) days of the initial disclosure; provided that the
term and obligations of this Agreement shall not apply to information that: 

  

	 	(a)	is or becomes known to the public through no fault of the Receiving Party; or 

 

	 	(b)	is already known to the Receiving Party prior to its receipt from the Disclosing Party, as shown by the prior written records of the Receiving Party; or

  

	 	(c)	becomes known to the Receiving Party by disclosure from a third party who has a lawful right to disclose the information and who did not receive the information
directly or indirectly from the Disclosing Party; or 

  

	 	(d)	is subsequently developed by or for the Receiving Party, provided that such subsequently developed information is not derived from or based on Confidential Information
of the Disclosing Party and is developed by employees or contractors who did not have access to Confidential Information. 

 Information disclosed under this Agreement shall not be deemed to be within the foregoing exceptions merely because such information is embraced by more general knowledge in the public domain or in the
Receiving Party’s possession. In addition, no combination of features shall be deemed to be within the foregoing exceptions merely because individual features are in the public domain or in the Receiving Party’s possession, but only if the
combination itself and its principles of operation are in the public domain or in the Receiving Party’s possession. 
  

	1.4	“Control,” “Controlled by” and other correlatives meancontrol by Celexion in the Field of Use by ownership or license, provided that DNP Green shall
be responsible for all compensation to any future licensors (for licenses entered into after the Effective Date) in consideration for sublicensing rights for Celexionto grant the licenses to DNP Green granted in this Agreementthat DNP Green has
approved prior to its being agreed by Celexion and such Licensors. 

  

	1.5	“Effective Date” means September 25, 2010. 

  

	1.6	“Field of Use” means the production of the Products, either (i) as the end product of the pathways disclosed and enabled in the Licensed Intellectual
Property, or (ii) through the [***] produced in the pathways disclosed and enabled in the Licensed Intellectual Property. 

  

	1.7	 “Licensed Intellectual Property” means, subject to the terms and conditions of this Agreement, (a) the Celexion Patent
Applications, (b)the otherCelexion Patent Rights, (c) the Work Plan Intellectual Property owned by Celexion, and (d) all know-how, trade secrets, systems, copyrighted materials, software, database rights, technology, Confidential

  

					
	 Celexion and DNP
	 	2	  	Confidential

 * Confidential
treatment requested 

	 	
Information of Celexion not included in the foregoing and any other present or future intellectual property right, other than trademarks, wherever in the world enjoyable, in each case (a), (b),
(c) and (d) Controlled by Celexion,and necessary for the development, piloting, scale-up and otherexercise of the license rights granted in Section 2.1, according to the terms hereof, but excluding any rights that have no application
in the Field of Use. 

  

	1.8	“Product(s)” means all or any ofthe products listed in Schedule B, which practice, use or constitute, or which but for the license in this Agreement would
infringe, Licensed Intellectual Property or DNP Green Improvements. 

  

	1.9	“Successful Completion” and its correlatives mean the criteria for successful completion of each Work Plan Phase as set forth in the Work Plan.

  

	1.10 	“Transfer Date” means the date on which each Phase of the Work Plan has been Successfully Completed. 

 

	1.11 	“Work Plan Intellectual Property” means to the extent developed or invented solely by Celexion or DNP Green, or jointly by Celexion and DNP Green, in the
performance of the Work Plan: (a) all inventions and discoveries whether or not patented or patentable, and any Celexion Patent Rights claiming such inventions and discoveries, and (b) all know-how, trade secrets, systems, copyrighted
materials, software, database rights, technology, Confidential Information of Celexion not included in the foregoing and any other present or future intellectual property right, other than trademarks, wherever in the world enjoyable in each case
(a) and (b) owned or controlled by, or licensed to Celexion, in which Celexion has sufficient rights to grant the rights and licenses granted in this Agreement to DNP Green, and necessary for the development, piloting, scale-up and
commercially viable exercise of the license rights granted in Section 2.1, according to the terms hereof. 

 ARTICLE II
LICENSE GRANT; COLLABORATION R&D 
 License 

 

	2.1	Subject to the terms and conditions of this Agreement, Celexion hereby grants to DNP Green an exclusive, worldwide, royalty bearing license in the Field of Use, with
the right to sublicense, under and to the Licensed Intellectual Property, to develop, have developed, make, have made, use, sell or otherwise transfer, offer for sale, and/or import any Product, provided that any sublicensee has agreed in writing to
be bound by terms no less strict than the terms of this Agreement and must be in compliance with Sections 2.13 and 2.14. 

  

	2.2	There are no rights or licenses implied for either Party to practice the Confidential Information or intellectual property of the other Party, except as expressly
provided and granted in this Agreement. 

  

					
	 Celexion and DNP
	 	3	  	Confidential

 * Confidential
treatment requested 

 Experimental Work to be made by Celexion 

 

	2.3	During the first six (6) months following the Effective Date, with an option to extend such period by mutual agreement between Celexion and DNP Green, Celexion will
carry out [***] work relating to enzyme activity and selectivity in connection with the Licensed Intellectual Property, as more fully described in the work plan attached hereto as Schedule C (the “Work Plan”) and in accordance with the
level of FTE effort described in such Schedule C and Section 2.6. 

  

	2.4	Celexion will provide informed personnel trained in accordance with accepted industry practices, and Celexion will be solely responsible for the negligent acts, errors
and omissions of its employees, subcontractors, and agents and for any other person performing services in connection with the Work Plan. 

  

	2.5	Celexion will perform the Work Plan in a workmanlike manner with reasonable skill and care ordinarily exercised by members of the profession practicing under similar
conditions and in accordance with accepted industry practices and professional guidelines. 

  

	2.6	DNP Green shall pay Celexion [***] per full-time equivalent (FTE) person (calculated on a annual basis) to perform the Work Plan, and Celexion will make available up to
[***] FTE persons to perform the work as outlined in the Work Plan. 

  

	2.7	Celexion shall cover ordinary and customary lab supplies out of the FTE rate. Any lab expenses that are not ordinary and/or customary but are incurred as part of the
Work Plan will be paid by DNP Green. 

  

	2.8	Celexion shall submit to DNP Green a monthly invoice for costs owed by DNP Green, accompanied by a report summarizing Celexion’s activities in relation to actual
hours worked and expenses incurred. 

  

	2.9	DNP Green will pay Celexion’s costs within thirty (30) days of receipt of invoice and supporting documentation. 

 

	2.10 	DNP Green shall have the right to audit Celexion time sheets from time to time upon fifteen (15) days notice. Such audit shall occur during reasonable business
hours by an independent third party agreed to by both parties, who shall be under written obligations of confidentiality to Celexion at least as stringent as those herein. 

Sublicensing 
  

	2.11 	DNP Green shall promptly notify Celexion of the identity of any entity to which it has sublicensed the Licensed Intellectual Property under the rights granted in
Section 2.1 and subject to this Article II and provide a copy of the sublicense to Celexion, with financial and confidential information redacted that does not relate to this Agreement. DNP Green shall incorporate terms and conditions into its
sublicense agreements sufficient to enable DNP Green to comply with this Agreement, including without limitation Article VI and Section 8.6. Celexion shall be a third party beneficiary of each sublicense, with the right to enforce the terms
thereof in the event DNP Green does not enforce its rights. 

  

					
	 Celexion and DNP
	 	4	  	Confidential

 * Confidential
treatment requested 

	2.12 	Effective on the date this Agreement is terminated for any reason prior to the end of its term (the “Termination Date”), and provided that any DNP Green
sublicensee is not then in default under the terms of the sublicense to which it is a party, then DNP Green hereby assigns and agrees to assign to Celexion those of its rights, title and interest under any such sublicense that are in effect on the
Termination Date that relate to the license granted herein, including the right for Celexion to receive the portion of the income from the sublicense that relates to the license provided herein that would have been due DNP Green had this Agreement
not been terminated, and Celexion undertakes to respect the terms of any such sublicense as though Celexion itself had contracted directly with such sublicensee solely with respect to the Licensed Intellectual Property, in accordance with the terms
of any such sublicense so long as any such sublicensee is in full compliance with the terms of its sublicense; provided further that: 

 (i) such sublicensee must agree in a writing delivered to Celexion within thirty (30) days after the Termination Date to be bound to Celexion (a) for all obligations which relate to the Licensed
Intellectual Property, including the payment of royalties, specified in the sublicense agreement, and (b) IV, VI and X, and Sections 2.14 (pro rata with other sublicensees), 3.6, 8.1, 8.4, 8.5, 8.6, 8.8, 8.9, and 9.4 of this Agreement; and

 (ii) Celexion shall not assume any obligation of DNP Green to such sublicensee different from or beyond its obligations to DNP
Green sublicensees in this Agreement. 
 Prosecution and maintenance of patent rights 

 

	2.13 	Celexion shall use reasonable efforts to prosecute any and all patent application(s) included in the Celexion Patent Applications, for so long as DNP Green is in
compliance with Section 2.14, and thereafter in its sole discretion. 

  

	2.14 	DNP Green will reimburse Celexion for reasonable patent costs (including without limitation attorneys’ fees and filing and maintenance costs) associated with the
preparation, filing, prosecution, translation and maintenance of the Celexion Patent Rights in the United States and in other designated jurisdictions as mutually agreed per Section 2.15. Celexion will provide an invoice in reasonable detail,
and DNP Green shall reimburse such costs within thirty (30) days thereafter. Notwithstanding the preceding, the Parties agree that significant expenses related to the prosecution of claims outside of the Field of Use shall be borne by Celexion.

  

	2.15 	Celexion shall use reasonable efforts to obtain patents for all patent applications incorporated in the Celexion Patent Applications and to maintain said Celexion
Patent Applications, for so long as DNP Green is in compliance with Section 2.14, and thereafter in its sole discretion. The Parties agree to mutually establish a list of countries in which to file national entries for the Celexion Patent
Applications. 

  

					
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 ARTICLE III PAYMENTS AND DILIGENCE 

Up-Front and Annual Payments 
  

	3.1	DNP Green shall make the following nonrefundable payments to Celexion: 

  

	 	3.1.1	a payment of [***], at the Effective Date; 

  

	 	3.1.2	a payment of [***], on the first anniversary of the Effective Date; 

  

	 	3.1.3	prior to the earlier of the date of the groundbreaking (including without limitation new construction or remodeling of existing plant structure)
(“Groundbreaking”) of the first plant that will commercially manufacture Products or the date of first commercial sale of a Product by Licensee, its Affiliate or sublicensee (the “First Groundbreaking Date”), an annual payment of
[***], the first of such payment being due on the second anniversary of the Effective Date, and annually thereafter; 

  

	 	3.1.4	a payment of [***], on the First Groundbreaking Date; and 

  

	 	3.1.5	an annual payment of [***] on each anniversary of the Effective Date following the First Groundbreaking Date. 

Milestone Payments 
  

	3.2	DNP Green shall make the following milestone payments to Celexion within thirty (30) days of achieving each of the milestones summarized below, which payments
shall not be refundable in any event: 

  

	 	3.2.1	a payment of [***], when Phase I and Phase II of the Work Plan have been Successfully Completed; and a payment of [***] when Phase III of the Work Plan has been
Successfully Completed. 

  

	 	3.2.2	a payment of [***], when a Product developed under this Agreement achieves a laboratory demonstration of [***] of Product in [***] (DNP Green shall pay this Milestone
Payment for each Product developed under this Agreement); 

  

	 	3.2.3	a payment of [***], when the Celexion Patent Application [***] or a continuation or divisional thereof is approved and a first patent is officially issued in connection
therewith in the [***], according to the following schedule: $[***] upon the first such issuance, and $[***] upon the second such issuance. 

  

					
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	 	3.2.4	a payment of [***], on the date when the first kilogram of Product developed under this Agreement is first produced (DNP Green shall pay this Milestone Payment for each
Product developed under this Agreement); 

  

	 	3.2.5	a payment of [***], at the First Groundbreaking Date (DNP Green shall pay this Milestone for each plant built or remodeled to manufacture Products under this Agreement
during the term of this Agreement, with the limitation that the payment will be made only once for the first plant to produce each unique Product (each of the six (6) Products currently listed on Schedule B (and additional Products if Schedule B is
ever amended) is a unique Product). 

 Royalty Payments 

 

	3.3	In further consideration of the license granted in Article II, DNP Green shall pay Celexion the following amounts: 

 

	 	3.3.1	for any plant manufacturing Products in which DNP Green or its Affiliates have no ownership or less than a [***] (which shall require a sublicense to the Licensed
Intellectual Property), a royalty rate of [***] on the portion of all royalty and other payments and on the cash equivalent of the fair market value of non-cash compensation received by DNP Green from any sublicensee that relate to the Products,
Licensed Intellectual Property and/or the DNP Green Improvements; and 

  

	 	3.3.2	for any plant manufacturing Products in which DNP Green or its Affiliates owns a [***], DNP Green will pay Celexion a royalty rate of [***] of net sales of such
Products produced and sold (being the gross sales of such Products less allowed product returns and reasonable product allowances consistent with usual industry practices, all as determined according to standard accounting practices) and on the cash
equivalent of the fair market value of non-cash compensation. If a Product shall otherwise be distributed or invoiced for a discounted price substantially lower than customary in the trade or distributed at no cost, to Affiliates of Licensee or
otherwise, net sales shall be based on the average amount billed for such Products during the applicable reporting period. 

 Third Party Claims and Reduction of Payments 
  

	3.4	If the practice of the Celexion Patent Rightsgranted pursuant to this Agreement in the Field of Use results in a third party bringing a claim, suit or proceeding
alleging patent infringement against DNP Green, DNP Green shall promptly notify Celexion in writing setting forth the facts of such claim in reasonable detail. 

 

	3.5	If it is impossible for DNP Green to practice the Celexion Patent Rightsgranted pursuant to this Agreement in the Field of Use without obtaining a license from a third
party asserting an infringement claim pursuant to Section 3.4, and DNP Green takes a license directly from the third party alleging infringement, Celexion shall reduce the payment obligations set forth in Section 3.3 by an amount equal to
[***] of the amounts payable to such third party in exchange for a license to the asserted patent that allows DNP Green to practice the Celexion Patent Rights granted pursuant to this Agreement, provided that in no event shall the payment reductions
set forth immediately above be greater than [***] of the payments otherwise due to Celexion in any calendar quarter. 

  

					
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	3.6	All payments due hereunder shall be paid in full, without deduction of withholding taxes or other fees that may be imposed by any government, except as otherwise
provided in the definition of net sales in Section 3.3.2. 

 Diligence 

 

	3.7	(a) DNP Greenshall use commercially reasonable efforts to develop Products and shall continue commercially reasonable development and marketing efforts of Products in
the Field of Use throughout the term of this Agreement. 

 (b) In addition: 

(i) DNP Green shall provide a commercialization plan to Celexion upon the first anniversary of the Transfer Date, and provide an updated
plan annually thereafter on each anniversary of the Transfer Date. 
 (ii) DNP Green shall develop a first Product that achieves
a laboratory demonstration of [***] of Product in [***] by the [***] anniversary of the Transfer Date; and 
 (iii) The scale-up
to a pilot or demonstration plant for a Product shall begin on or before the [***] anniversary of the Transfer Date; and 
 (iv)
DNP Green shall first produce the first kilogram of the first Product developed under this Agreement by the [***] anniversary of the Transfer Date. 
 (v) The First Groundbreaking Date shall occur by the [***] anniversary of the Transfer Date; and 
 (vi) The first commercial production and sale of Products from a commercial plant shall be achieved by the [***] anniversary of the Transfer Date. 
 provided, however, Licensee will not be in breach of Section 3.7(b) for failure to meet any milestone as a result of technical or manufacturing difficulties beyond Licensee’s reasonable
control. In the event of technical or manufacturing difficulties beyond Licensee’s reasonable control, Licensee will notify Celexion if it anticipates missing a milestone date(s), and the parties will negotiate a milestone(s) extension in
good faith. If the parties are unable to agree on a milestone extension or other settlement within ninety (90) days, either party may send notice of a dispute pursuant to Section 10.2. If neither party sends such a notice within the
allotted time period in Section 10.2, either party may elect to terminate this Agreement effective on notice. 

  

					
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 ARTICLE IV PAYMENT REPORTS 

 

	4.1	Subsequent to the initial payment of Section 3.1.1, DNP Green shall report in writing to Celexion, within thirty (30) days after the end of each calendar
quarterafter the Effective Date, the royalty payments and net sales of Products subject to royalty payments pursuant to Article III during that calendar quarter. If there were no such royalties or sales, a report nevertheless shall be submitted so
stating. Payment shall be submitted to Celexion concurrent with submission of the report. Unless Celexion notifies DNP Green otherwise, the report shall be submitted to: 

Celexion, LLC 

One Memorial Drive, Suite 7 
 Cambridge, MA, 02142 
 Attention: Brian M. Baynes, CEO 

A copy of the report shall be submitted concurrently to the office receiving notices for Celexion in accordance with Article V.

  

	4.2	Unless Celexion notifies DNP Green otherwise, all payments due to Celexion hereunder shall be in U.S. Dollars and shall be submitted by wire transfer to:

 [***] 
 In the event that royalties accrue in a currency other than U.S. Dollars, the royalties shall be converted into U.S. Dollars at the closing buying rate of the bank abovementioned in effect on the last
business day of the accounting period for which payment is due; provided, however, Celexion may notify Licensee, for future payments, of (i) another published currency conversion standard that shall apply, or (ii) wire transfer
instructions for payment of royalties in the currency in which the royalties accrued. 
  

	4.3	If any payment due hereunder is not paid when due, the unpaid amount shall bear interest at an annual rate of the greater of two points above the prime rate then in
effect at the above bank or five per cent (5 %), until paid. The payment of such interest shall not foreclose Celexion from exercising any other rights it may have under this Agreement or in law or equity as a consequence of the lateness of any
payment. 

  

					
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	4.4	DNP Green, its Affiliates and the sublicensees shall keep adequate records in sufficient detail to enable the royalties payable to Celexion hereunder, and other
compliance with this Agreement, to be determined for at least five (5) years following the date on which a royalty report is due. Upon fifteen (15) days notice, the records may be inspected, and employees involved in the sale of Products
developed under this Agreement may be interviewed during normal business hours by an independent auditor appointed by Celexion for that purpose. The independent auditor shall be bound by terms of confidentiality and non-use at least as stringent as
those contained herein. The independent auditor shall report to Celexion only the amount of royalties payable hereunder except in the event that the auditor deems there has been underpayment or other noncompliance, in which event the auditor may
report to Celexion and DNP Green details concerning such underpayment or other noncompliance. DNP Green shall immediately pay the underpayment and reimburse Celexion for the audit expense if the audit reports a discrepancy of five percent
(5%) or more in underreported royalties. 

 ARTICLE V NOTICES 

 

	5.1	All notices pursuant to the Agreement shall be in writing and sent by facsimile or overnight or two-day courier, and deemed received on the date of confirmation of
transmission of facsimile or courier receipt, directed as follows, unless the Party receiving notice notifies the other Party of a different recipient for the notice: 

If to Celexion: 

Celexion, LLC 

One Memorial Drive, Suite 7 
 Cambridge, MA, 02142 
 Attn: Brian M. Baynes, CEO 

E-Mail : [***] 
 Facsimile : (617) 868-1115 
 If to DNP Green: 

DNP Green Technology, Inc. 
 1250 Rene-Levesque West, Suite 4110 
 Montreal, Quebec, Canada

 H3B 4W8 
 Attn: Mr. Jean-François Huc, President 
 E-Mail :
[***] 
 Facsimile : (514) 844-5836 

With a copy to : 
 Boivin Desbiens Senecal, g.p. 
 2000 McGill College, Suite 2000

 Montreal, Quebec, Canada 

H3A 3H3 
 Attn: Mr. Thomas Desbiens, Esq. 
 E-Mail : [***] 

Facsimile : (514) 844-5836 

  

					
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 ARTICLE VI CONFIDENTIAL INFORMATION 

 

	6.1	Confidential Information disclosed by a Disclosing Party to a Receiving Party shall be maintained in strict confidence by the Receiving Party, and not used for any
purpose other than those authorized by this Agreementfor the term of this Agreement and for ten (10) years after termination, if terminated early, or the term of this Agreement and for five (5) years after expiration; provided that a
Receiving Party may, in connection with the exercise of its rights hereunder, disclose the Confidential Information to third parties who have need to know in connection with the purpose pertained hereto and that agree in writing to be bound by terms
of confidentiality and non-use at least as stringent as those contained herein. Each Receiving Party shall take precautions as it normally takes with its own confidential and proprietary information of similar nature to prevent disclosure to third
parties, but no less than reasonable precautions. Each Receiving Party shall be responsible for the breach of this Article VI by the Receiving Party, its Affiliates, subcontractors and agents. 

 

	6.2	A Receiving Party agrees not to disclose Confidential Information received from a Disclosing Party to any of its employees other than those who have need to know in
connection with the purpose pertained hereto, and any employee to whom disclosure is made shall be made aware of the restrictions herein provided. 

  

	6.3	All Confidential Information disclosed by either Party to the other hereunder shall be maintained in strict confidence, and not used or disclosed to any third party by
the Receiving Party except as expressly authorized by provisions of this Agreement, for a period corresponding to the term of this Agreement and for ten (10) years after termination, if terminated early, or the term of this Agreement and for five
(5) years after expiration. 

  

	6.4	A Receiving Party may disclose Confidential Information to the extent required to be disclosed pursuant to law or regulation, judicial or administrative process;
provided that prior to any disclosure, the Receiving Party shall (a) assert the confidential nature of the Confidential Information to the authority; (b) immediately notify the Disclosing Party in writing; and (c) cooperate fully with
the Disclosing Party in protecting against disclosure or obtaining a protective order narrowing the scope of the compelled disclosure and protecting its confidentiality. 

 

	6.5	The Parties acknowledge and agree that because the breach or threatened breach of this Article VI would result in immediate and irreparable injury, each Disclosing
Party shall be entitled, without posting of bond or other security, to temporary and permanent injunctive and other equitable relief restraining the Receiving Party from activities constituting a breach or threatened breach of this Article VI to the
fullest extent allowed by law. Such relief shall not limit a Disclosing Party’s right to seek all other remedies available at law or in equity, including without limitation, the recovery of damages. 

  

					
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	6.6	As of the Effective Date, the Confidential Disclosure and Non-Use Agreement between the Parties dated November 6, 2009 (the “Confidentiality Agreement”)
is hereby superseded by this Agreement, except as to confidential information and materials provided thereunder prior to the Effective Date of this Agreement or otherwise not subject to this Agreement. 

ARTICLE VII IMPROVEMENTS 
  

	7.1	During the term of this Agreement, DNP Green shall have the exclusive right, at its cost, to create “DNP Green Improvements.” “DNP Green
Improvements” mean any derivative works from the Licensed Intellectual Property and developments, improvements and enhancements of the Licensed Intellectual Property, directly or through sub-contractors, in the Field of Use and outside of the
performance of the Work Plan. 

  

	7.2	The Parties acknowledge and agree that DNP Green shall own all rights, title, and interest in and to all such DNP Green Improvements throughout the world.

  

	7.3	The Parties also acknowledge and agree that Celexion shall own all rights, title, and interest in and to all Work Plan Intellectual Property. 

 

	7.4	DNP Green shall have the right at its own discretion to secure intellectual property protection in any of the DNP Green Improvements at its own expense.

  

	7.5	Licensee shall promptly disclose to Celexion any DNP Green Improvements. Subject to the terms and conditions of this Agreement, Licensee hereby grants to Celexion and
its Affiliates a nonexclusive, royalty-free, worldwide, irrevocable right and license outside the Field of Use to DNP Green Improvements, with the right to grant and authorize the grant of sublicenses at any tier, under Licensee’s intellectual
property rights to make, have made, use, offer for sale, sell, import and otherwise dispose of products and practice processes, and to practice processes and use, copy, modify and, if permitted under Article VI (Confidential Information), distribute
information outside the Field of Use. 

  

	7.6	Each Party shall promptly disclose to the other Party any Work Plan Intellectual Property. The Parties shall evaluate jointly whether trade secret or patent protection
is appropriate to protect any Work Plan Intellectual Property jointly invented by one or more employees of Celexion and by one or more employees of DNP Green. DNP Green agrees that it shall not use research data in support of a patent application or
apply for any intellectual property protection of any Work Plan Intellectual Property, without Celexion’s express prior written consent and subject to the terms of this Agreement. In the event that one or both of the Parties believe that patent
protection is appropriate, the Parties shall cooperate in the preparation, filing and prosecution of any such patent application claiming jointly invented Work Plan Intellectual Property. 

  

					
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 ARTICLE VIII REPRESENTATIONS AND LIMITATIONS 

 

	8.1	WHILE IT IS EXPECTED THAT THE RIGHTS PROVIDED BY CELEXION UNDER THIS AGREEMENT WILL BE USEFUL TO DNP GREEN TO MAKE PRODUCTS ON A COMMERCIAL SCALE, CELEXION DOES NOT
WARRANT OR GUARANTEE THAT SUCH RESULTS WILL BE OBTAINED. CELEXION SHALL NOT BE LIABLE TO DNP GREEN, ITS AFFILIATES OR ANY SUBLICENSEES BECAUSE OF ANY FAILURE IN ITS OPERATIONS OR OF THE LICENSED INTELLECTUAL PROPERTY TO ACHIEVE THE DESIRED RESULTS.
THERE ARE NO OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OR FITNESS FOR A PARTICULAR PURPOSE, OTHER THAN THOSE EXPRESSLY EXTENDED IN THIS ARTICLE VIII. 

 

	8.2	To Celexion’s knowledge and belief, but without obligation of inquiry, DNP Green may exercise its rights to practice the Celexion Patent Rights in the Field of Use
under the license granted in Section 2.1 of this Agreement without infringing patent(s) owned by any third partybecauseCelexion has received no third party notice of infringement. In the event that any claims or legal proceedings are brought by
any third party alleging that the use of the Licensed Intellectual Property by DNP Green, any of its Affiliates or any of its sublicensees would infringe patent rights or other third party intellectual property rights, Celexion shall provide
technical advice and assistance (as requested) to effectively aid DNP Green in defending such allegation of infringement. 

  

	8.3	In the event that either Party becomes aware that a third party is infringing any Licensed Intellectual Property in the Field of Use, it shall immediately inform the
other Party and provide such information in its possession concerning the alleged infringement. Celexion may, but shall not be obligated to, take steps to abate the infringement at its own expense. If Celexion does not elect to so proceed, DNP Green
may elect to bring suit, in its own name and at its own expense, against the alleged infringer solely in the Field of Use. The Party bringing suit shall receive any recoveriesafter reimbursement of the legal fees and expenses of each Party. Any
recoveries by DNP Green shall be deemed to be subject to royalty payments under Section 3.3.1 as if received by a sublicensee. 

  

	8.4	TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW AND EXCEPT FOR BREACH BY EITHER PARTY, ITS AFFILIATES OR SUBLICENSEES OF ANY LICENSE GRANTED TO SUCH PARTY IN THIS
AGREEMENT, BREACH BY EITHER PARTY, ITS AFFILIATES OR SUBLICENSEES OF ARTICLE VI (CONFIDENTIAL INFORMATION), OR DAMAGES SUBJECT TO INDEMNIFICATION UNDER THIS ARTICLE 8, NEITHER PARTY SHALL BE RESPONSIBLE TO THE OTHER FOR SPECIAL, INCIDENTAL,
EXEMPLARY, OR CONSEQUENTIAL DAMAGES THAT MAY BE INCURRED PURSUANT TO THIS AGREEMENT OR PERFORMANCE HEREUNDER. 

  

	8.5	WHILE IT IS BELIEVED THAT THE ORDINARY AND ANTICIPATED USE OF THE LICENSED INTELLECTUAL PROPERTY, AND PRODUCTS MADE THEREBY, WILL NOT RESULT IN SAFETY OR HEALTH HAZARDS
TO WORKERS OR TO PURCHASERS OF SUCH PRODUCTS, CELEXION DOES NOT WARRANT OR GUARANTEE AGAINST SUCH HEALTH OR SAFETY HAZARDS. 

  

					
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	8.6	DNP GREEN HAS SOLE DISCRETION AND RESPONSIBILITY FOR ITS DESIGN, MANUFACTURE, AND SALE OF PRODUCTS PURSUANT TO THIS AGREEMENT. ACCORDINGLY, DNP GREEN SHALL INDEMNIFY,
DEFEND, AND HOLD CELEXION AND ITS AFFILIATES, AND THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS AND CONSULTANTS, (COLLECTIVELY, “INDEMNITIES”) HARMLESS FROM AND AGAINST ANY AND ALL CLAIMS, SUITS, OBLIGATIONS, CAUSES OF ACTION,
LIABILITY, COSTS AND DAMAGES (INCLUDING, WITHOUT LIMITATION, ATTORNEY FEES AND COURT COSTS), BASED UPON, ARISING OUT OF, OR RELATED TO: INJURIES TO PERSONS (INCLUDING DEATH) OR PROPERTY (INCLUDING, WITHOUT LIMITATION, LOSS OF USE), PRODUCT LIABILITY
CLAIMS, CLAIMS FOR DAMAGE TO THE ENVIRONMENT, AND THIRD PARTY CLAIMS DUE TO THE BREACH OF ANY OF ITS REPRESENTATIONS, COVENANTS AND AGREEMENTS CONTAINED IN THIS AGREEMENT (COLLECTIVELY, “LIABILITIES”), WHATEVER THE CAUSE MAY BE, BASED
UPON, ARISING OUT OF, OR RELATED TO THE ACTS OR OMISSIONS OF DNP GREEN AND ITS AFFILIATES AND/OR ANY OF THEIR EMPLOYEES, OFFICERS, EMPLOYEES, SUBCONTRACTORS AND CONSULTANTS OR OTHER PERSONS ACTING ON THEIR BEHALF OR UNDER THEIR CONTROL, IN
CONNECTION WITH DNP GREEN’S EXECUTION, DELIVERY AND PERFORMANCE OF, OR BREACH OR FAILURE TO PERFORM, THIS AGREEMENT, EXCEPT TO THE EXTENT THAT SUCH LIABILITIES ARE ESTABLISHED IN A COURT OF LAW TO HAVE BEEN CAUSED BY THE GROSS NEGLIGENCE OR
WILLFUL MISCONDUCT ON THE PART OF ANY OF THE INDEMNITIES. 

  

	8.7	CELEXION AGREES TO DEFEND, INDEMNIFY, AND HOLD DNP GREEN, ITS AFFILIATES AND THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS, HARMLESS FROM AND AGAINST ANY
AND ALL OUT-OF-POCKET COSTS, DAMAGES AND LOSSES (INCLUDING, WITHOUT LIMITATION, REASONABLE ATTORNEYS’ FEES AND COSTS) ARISING OUT OF OR RESULTING FROM THIRD PARTY CLAIMS DUE TO THE BREACH BY CELEXION OF ANY OF ITS REPRESENTATIONS, COVENANTS AND
AGREEMENTS CONTAINED IN THIS AGREEMENT, EXCEPT TO THE EXTENT THAT SUCH LIABILITIES ARE ESTABLISHED IN A COURT OF LAW TO HAVE BEEN CAUSED BY THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT ON THE PART OF ANY OF SUCH INDEMNITIES. 

 

	8.8	The respective indemnitee shall notify the indemnifying Party within a reasonable period of time in writing of any claim, cooperate in the defense or settlement of such
claim as reasonably requested by the indemnifying Party, at the indemnifying Party’s expense, and tender the indemnifying Party with the sole control of the defense and all related settlement negotiations, although the indemnitee may be
represented by separate counsel at its expense. 

  

					
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	8.9	Nothing in this Agreement will be construed to limit either Party’s remedies for use of intellectual property rights outside the uses expressly permitted in this
Agreement. 

 ARTICLE IX TERM 
  

	9.1	The term of this Agreement shall commence on the Effective Date and continue in effect until expiry of the last to expire of the patents resulting from the Celexion
Patent Applications, or until the fifteenth (15th) anniversary of the Effective Date, whichever shall later occur, unless earlier terminated in accordance with this Article. 

 

	9.2	DNP Green may terminate this Agreement at any time, and for any reason whatsoever, by providing Celexion with ninety (90) days advance written notice of
termination, along with payment of any amounts then outstanding. 

  

	9.3	Celexion may elect to provide DNP Green with thirty (30) days advance written notice of termination in the event that DNP Green material breaches this Agreement.
If DNP Green shall not have cured any such material breach within such thirty-day notice period, this Agreement shall terminate on the last day of such notice period. 

 

	9.4	Termination shall not affect the rights and obligations of either Party incurred prior to termination. The following Articles and Sections shall survive termination: I,
2.12, 4.3, 4.4, 5.1, VI, 7.2, 7.3, 7.4, 7.5, 7.6, 8.1, 8.4, 8.5, 8.6, 8.7, 8.8, 8.9, 9.4, 9.5, and X. Upon termination, each Party shall return Confidential Information of the other Party, or destroy it, as the Disclosing Party shall instruct, and
cease any use of Confidential Information of the other Party, except as otherwise provided in Section 9.5. 

  

	9.5	In the event this Agreement is terminated before its expiry for any reason except in the event of a breach by Celexion or a breach by DNP Green of any of its
obligations listed at subsection 3.7 (b), DNP Green shall grant and hereby grants Celexion a royalty-free non-exclusive license to all DNP Green Improvements in the Field of Use, with the right to sub-license the DNP Green Improvements to third
parties. In the event that this Agreement is terminated due to a breach by DNP Green of any of its obligations listed at subsection 3.7 (b), within thirty (30) days after the effective date of termination, Celexion and DNP Green shall convene
to negotiate in good faith the commercially reasonable terms for a license to the DNP Green Improvements, solely to the extent it is required for Celexion, its Affiliates and sublicensees and their respective customers to practice the Licensed
Intellectual Property without infringing on patents or patent applications that result from the DNP Green Improvements. 

  

					
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 ARTICLE X MISCELLANEOUS 

 

	10.1 	The validity, interpretation and performance of this Agreement shall be governed and construed in accordance with the laws of the State of Delaware, without regard to
the conflict of law principles thereof. 

  

	10.2 	Any dispute hereunder shall be referred to senior management of the Parties for amicable settlement. If the Parties still are unable to agree within thirty
(30) days after referral of the dispute to senior management, they shall either: if mutually agreed, endeavor to resolve the dispute through a dispute resolution process reasonably selected for the dispute in question,or either Party may seek
remedy of a dispute in a court of law. 

  

	10.3 	This Agreement may be assigned or transferred by a Party to such entity that is the successor to substantially all of its equity or those business assets of the Party
to which this Agreement applies (“Successor”), provided that the Party gives written notice thereof to the other Party within a reasonable time and such successor agrees in writing to abide by the terms and conditions hereof within ten
(10) days after such assignment or transfer. Either Party may delegate performance hereunder, in whole or in part, to an Affiliate(s), but shall remain responsible for performance of its obligations hereunder and for the performance,
nonperformance, negligence, omission and acts of its Affiliates. Neither Party may otherwise assign, transfer or delegate this Agreement in whole or in part, without the prior written consent of the other Party. Notwithstanding anything to the
contrary in this Agreement, neither Party shall have any right or license whatsoever to any intellectual property rights, information or technology owned or controlled by an entity which becomes a Successor of the other Party hereunder (or any
subsequent Successor) and which was owned or controlled by such Successor prior to its becoming a Successor. Subject to the foregoing, this Agreement shall inure to the benefit of and be binding upon the Parties and their Successors.

  

	10.4 	The Parties shall abide by the laws and regulations of the United States, including, without limitation, Export Control and related regulations that pertain to the
export of technology. 

  

	10.5 	Each Party shall remain an independent contractor. Nothing herein shall be construed as creating an agency or joint venture relationship between the Parties.

  

	10.6 	This Agreement constitutes the entire agreement between the Parties concerning the subject matter contained herein. No representation or other affirmation of fact,
whether made by a Party’s employees, consultants, subcontractors or agents or otherwise, which is not contained in this Agreement will be deemed to be a warranty by such Party for any purposeor give rise to any liability of such Party
whatsoever. Any modifications or waivers shall be in writing, duly signed by both Parties. 

  

	10.7 	Neither party shall be responsible to the other for delay or failure in performance of any of the obligations imposed by this Agreement, provided such delay or failure
shall be occasioned by a cause beyond the control of and without the fault or negligence of such party, including fire, flood, explosion, lightning, windstorm, earthquake, subsidence of soil, discontinuity in the supply of power, court order or
governmental interference, civil commotion, riot, war, strikes, labor disturbances, transportation difficulties or labor shortage. Notwithstanding the aforesaid, if as a result either party fails to a substantial extent for at least three
(3) months to fulfill any of its obligations under this Agreement, the other party may terminate the Agreement upon thirty (30) days advance written notice of termination. 

  

					
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	10.7 	The waiver of performance of any of the provisions of this Agreement shall not be construed as a waiver of subsequent obligations to perform the same or different
provisions. Should any provision of this Agreement be held invalid, unenforceable or void for any reason, the remaining provisions shall remain in full force and effect. The headings are for convenience only and shall not be used in
construing this Agreement. 

  

	10.8 	Each Party shall execute and deliver such further assignments and other instruments and do such further reasonable acts and things as reasonably may be required to
carry out the intent and purpose of this Agreement. 

  

	10.9 	Licensee agrees to mark the Products sold in the United States with all applicable United States patent numbers in accordance with applicable United States patent Law.
All Products shipped to or sold in other countries shall be marked in such a manner as to conform with the patent laws and practice of the country of manufacture or sale. 

 

	10.10 	During the term of this Agreement and for a period of twelve (12) months thereafter, each Party agrees that neither it nor any of its Affiliates shall recruit,
solicit or induce any employee of the other Party to terminate his or her employment with the other party. In the event that either Party violates the above restriction and thereafter hires or engages the employee, such Party shall be liable for the
greater of (i) actual damages incurred as a result of the violation or (ii) liquidated damages in the amount of three months base salary of the employee as of the date of separation of employment. Such damages shall be in addition to and
not in lieu of any and all other equitable or legal remedies available including injunctive relief. 

  

	10.11 	If either Party would like to issue a press release at any time, it shall contact the other Party, and the Parties shall mutually agree on the content of the press
release. 

  

	10.12 	This Agreement may be executed in counterparts, each of which shall be deemed an original with all such counterparts together constituting one document. A signature
transmitted via facsimile or electronic pdf shall be deemed to be and shall be as effective as an original signature upon confirmation of transmission. 

  

					
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 IN WITNESS WHEREOF, the Parties have executed this Agreement. 

 

									
	CELEXION, LLC	 		 	DNP GREEN TECHNOLOGY, INC.
					
	Name:	 	/s/ [illegible]	 		 	Name:	 	/s/ Jim Millis
	Title:	 	CEO	 		 	Title:	 	CTO
					
	Date:	 	11/10/2010	 		 	Date:	 	7 November 2010

  

  

					
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 SCHEDULE A 
 List of the Celexion Patent Applications: 
  

	1.	[***] filed [***] 

  

	2.	Attorney docket [***] 

  

					
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 SCHEDULE B 
 List of Products included in the Field of Use: 
  

	1.	Adipic acid or equivalent – includes the free acid, salts, esters or other derivatives; 

 

	2.	6-hydroxycaproic acid or equivalent; 

  

	3.	6-aminocaproic acid or equivalent; 

  

	4.	Hexamethylene diamine; 

  

	5.	Hexane-1,6-diol; and 

  

	6.	6-Aminohexanol. 

  

					
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 SCHEDULE C 
 Work Plan 
 1. Introduction 
 1.1 Problem Summary 
 DNP would like to demonstrate the use of [***] 

To achieve this goal, Celexion will demonstrate the [***] 
 1.2 Project Summary 
 Celexion will undertake the characterization project in three phases.
The first phase will consist of [***] 
 The second phase will consist of [***]. In particular, Celexion will evaluate the performance
characteristics of the [***] 
 The third phase will consist of [***] Celexion will provide to DNP an assessment of the experimental data and
recommendations for further development. Separately, an assessment of the effect of [***] will be analyzed. 
 The experimental work for the
entire project (Phase I through Phase III) is expected to take between [***]. 
 2. Research Project 

2.1 Phase I Project Description 
 Celexion
will initiate the project by determining [***] 
 In tandem, methods will be developed for [***]. The two tracks of development are the
following: 
 [***] 
 Upon Successful Completion of this phase, Celexion will have the [***] necessary to carry out an evaluation of [***]. 
 2.2 Phase II Project Description 
 In the second phase, Celexion will evaluate the ability
of the enzymes to [***] Performance of the following reactions will be validated: 
  

	 	(1)	[***] 

  

	 	(2)	[***] 

 In addition, the following reactions
which have previously been observed will be analyzed since they will be used for comparison in Phase III. 
  

	 	(1)	[***] 

  

	 	(2)	[***] 

 Celexion proposes two paths to these
endpoints: [***] 
 The above criteria will establish that the [***]. The project will then move to Phase III to [***]. 

2.3 Phase III Project Description 
 In
Phase III, Celexion will [***]. 
 [***] 
 Upon Successful Completion of this phase, the [***] For example, if the desired reaction is slower than the undesired reaction, [***] may be used to improve selectivity. Alternatively, different relative
levels of expression of [***]. 
 An additional task to undertake via this phase is determination of [***] 

2.4 Project Timelines 
 The proposed
Phase I timeline encompasses [***]. 
 
 Table I: Targeted schedule
and timeline for Phase I 
 * - indicates steps that can be performed in parallel 

 

							
	 Step
	  	 Estimated

Duration, cost
	  	 From start of phase
	  	 Milestones

	 [***]
	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]

 The proposed Phase II timeline encompasses use of the [***]. 
 Table II: Targeted schedule and timeline for Phase II 
  

									
	 Step
	  	 Estimated

Duration, cost
	  	 From start of phase
	  	 From start of project
	  	 Milestones

	[***]	  	[***]	  	[***]	  	[***]	  	[***]

 The proposed Phase III timeline encompasses measuring the [***]. 

Table III: Targeted schedule and timeline for Phase III 
 * - indicates steps that can be performed in parallel 
  

									
	 Step
	  	 Estimated

Duration, cost
	  	 From start of phase
	  	 From start of project
	  	 Milestones

	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]

  

					
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